深圳市恒运昌真空技术股份有限公司 中信证券股份有限公司 2026年1月8日 深圳市恒运昌真空技术股份有限公司（以下简称"恒运昌"、"发行人"或"公司"）首次公开发行人民币普 通股（以下简称"本次发行"）并在科创板上市的申请已经上海证券交易所（以下简称"上交所"）上市审 核委员会审议通过，并已经中国证券监督管理委员会（以下简称"中国证监会"）同意注册（证监许可 〔２０２５〕２６７１号）。《深圳市恒运昌真空技术股份有限公司首次公开发行股票并在科创板上市 招股意向书》及附录在上海证券交易所网站（ｈｔｔｐ：／／ｗｗｗ．ｓｓｅ．ｃｏｍ．ｃｎ）和符合 中国证监会规定条件网站（上海证券报：ｈｔｔｐｓ：／／ｗｗｗ．ｃｎｓｔｏｃｋ．ｃｏｍ；中国证 券报：ｈｔｔｐｓ：／／ｗｗｗ．ｃｓ．ｃｏｍ．ｃｎ／；证券日报：ｈｔｔｐ：／／ｗｗｗ．ｚｑｒ ｂ．ｃｎ；证券时报：ｈｔｔｐｓ：／／ｗｗｗ．ｓｔｃｎ．ｃｏｍ；经济参考网：ｈｔｔｐ：／／ｗ ｗｗ．ｊｊｃｋｂ．ｃｎ；中国日报网：ｈｔｔｐｓ：／／ｃｎ．ｃｈｉｎａｄａｉｌｙ．ｃｏｍ．ｃ ｎ；金融时报：ｈｔｔｐｓ：／／ｗｗｗ．ｆｉｎａｎｃｉａｌｎｅｗｓ．ｃｏｍ．ｃｎ）披露，并置 备于发行人、上交所 ...

Core Viewpoint - Shenzhen Hengyun Chang Vacuum Technology Co., Ltd. has received approval for its IPO application on the Sci-Tech Innovation Board, indicating a significant step in its growth trajectory [1] Financial Performance - The company reported revenues of 158 million yuan, 325 million yuan, and 541 million yuan for the years 2022, 2023, and 2024 respectively, with a projected revenue growth of 66.26% in 2024 [1] - Net profits for the same years were 26.19 million yuan, 79.83 million yuan, and 142.54 million yuan, reflecting a year-on-year increase of 77.31% in 2024 [1] - Basic and diluted earnings per share are projected to be 2.79 yuan in 2024, up from 1.62 yuan in 2023 [1] Research and Development - R&D expenditures over the past three years were 21.54 million yuan, 36.96 million yuan, and 55.28 million yuan, representing 13.62%, 11.36%, and 10.22% of revenue respectively [1] - As of June 30, 2025, the company employed 158 R&D personnel, accounting for 42.13% of its total workforce [1] Key Financial Metrics - The company’s key financial indicators for 2024 include: - Revenue: 540.79 million yuan - Net profit attributable to shareholders: 141.54 million yuan - Net profit after deducting non-recurring gains and losses: 128.97 million yuan - Net cash flow from operating activities: 99.50 million yuan - Return on equity: 23.26% [1]

每经AI快讯，据证监会网站12月4日消息，证监会同意深圳市恒运昌真空技术股份有限公司首次公开发 行股票并在科创板上市的注册申请。 ...

人民财讯12月4日电，证监会同意深圳市恒运昌真空技术股份有限公司(简称"恒运昌")首次公开发行股 票并在科创板上市的注册申请。 ...

Summary of Atlas Copco Group's Capital Markets Day 2025 Company Overview - **Company**: Atlas Copco Group - **Event**: Capital Markets Day 2025 - **Date**: November 26, 2025 - **Location**: Stuttgart Key Points and Arguments Company Performance and Strategy - The company is focused on sustainable, profitable growth, with a historical organic growth rate of 5% over 12 years, with targets of 8% growth over the business cycle [4][10][44] - Despite current challenges, the company is well-equipped to continue its growth journey, emphasizing the importance of return on capital employed and stable profitability [5][10] - Q3 results showed flat orders for compressors and negative organic growth in gas and process, attributed to the nature of large orders in the business [6][8] - The service business continues to grow organically, indicating resilience in the company's operations [6][7] Regional Performance - North America shows good sequential and year-on-year growth, while South America is flat [8] - Europe has good year-on-year growth but is flat sequentially, and Asia faces modest growth, particularly in the compressor business [8] Market Dynamics and Opportunities - The company sees opportunities in energy transition and energy security, with potential roles in decarbonization and CO2 capturing [13][14] - Digitalization and AI are viewed as significant growth levers, with a focus on automation and operational efficiency [12][32] - The company aims to maintain a diverse customer base and penetrate niche markets for better resilience [15][17] Financial Targets - The company aims for a sustained high return on capital employed, targeting 50% of net profit in dividends [10][47] - Current return on capital employed is around 25%, with a focus on maintaining above 20% [50] - The company has a low debt ratio and strong cash generation capabilities, allowing for flexibility in acquisitions [55][56] Innovation and R&D - Continuous investment in R&D is emphasized, with a focus on increasing output and speed of innovation [34][36] - Recent innovations include energy-efficient compressors and advanced dispensing technologies [36][37] - The company has acquired 160 companies over the last 10 years, with a focus on integrating these acquisitions for faster synergies [38] Service Strategy - The service business is evolving from selling spare parts to offering comprehensive service solutions, leveraging technology for better customer engagement [21][59] - The company aims to enhance its service offerings across all business areas, utilizing data and connectivity for improved service delivery [22][33] Organizational Structure - The decentralized model allows for agility and responsiveness to market changes, with 650 companies monitored monthly for performance [28][29] - The company emphasizes a culture of freedom with accountability, ensuring standardized processes while allowing flexibility in operations [29][30] Additional Important Content - The company acknowledges the impact of external factors such as tariffs and currency fluctuations on its performance [65] - There is a commitment to maintaining operational excellence and adapting the cost structure in line with market demand [65] This summary encapsulates the key insights and strategic directions discussed during the Atlas Copco Group's Capital Markets Day 2025, highlighting the company's focus on sustainable growth, innovation, and market resilience.