Core Viewpoint - The company is currently in the early stages of business development in the cybersecurity sector, with this segment contributing a small proportion to the overall revenue [1]. Group 1: Business Overview - The company's main business includes metrology calibration, testing, and certification services [1]. - The testing services primarily focus on consumer batteries, power batteries, and energy storage battery testing [1]. Group 2: Cybersecurity Revenue - The company has not yet generated significant revenue from the cybersecurity field, indicating that it is still in the initial phase of market expansion [1].

Group 1 - The company, Tian Su Measurement, specializes in professional technical services such as measurement calibration, testing, and certification [2] - The main business areas include ten calibration fields: geometric, thermal, mechanical, electromagnetic, radio, time and frequency, acoustic, optical, chemical, and ionizing radiation, along with specialized measurement instruments [2] - The testing services primarily focus on consumer batteries, power batteries, and energy storage battery testing [2]

Core Viewpoint - The company Tian Su Measurement (301449.SZ) specializes in professional technical services such as measurement calibration, testing, and certification, serving various sectors of the national economy [1] Group 1: Business Overview - The main business activities of the company include measurement calibration, testing, and certification [1] - The company's clients span multiple fields including biomedicine, automotive, new energy, rail transportation, energy and electricity, light industry and daily chemicals, and equipment manufacturing [1] Group 2: Collaboration Status - The company has confirmed that it currently has no order cooperation with Blue Arrow Aerospace [1]

Core Viewpoint - Tian Su Measurement has shown a positive performance in stock trading, with a 2.63% increase in share price and a trading volume of 315 million yuan on January 19, indicating investor interest and activity in the company [1]. Group 1: Financial Performance - For the period from January to September 2025, Tian Su Measurement achieved a revenue of 648 million yuan, representing a year-on-year growth of 12.12% [2]. - The net profit attributable to the parent company for the same period was 92.9851 million yuan, reflecting a year-on-year increase of 11.62% [2]. Group 2: Shareholder and Market Data - As of December 23, 2025, the number of shareholders for Tian Su Measurement reached 20,200, which is a significant increase of 201,920% compared to the previous period [2]. - The average number of circulating shares per shareholder is 688 shares, showing no change from the previous period [2]. Group 3: Financing and Margin Trading - On January 19, Tian Su Measurement recorded a financing buy-in amount of 20.582 million yuan, while the financing repayment was 27.4816 million yuan, resulting in a net financing outflow of 6.8996 million yuan [1]. - The total margin trading balance for Tian Su Measurement as of January 19 is 66.9206 million yuan, which accounts for 5.58% of its market capitalization [1].

Fundraising Performance - In December 2025, 18 new stocks were listed on the A-share market, raising a total of 31.41 billion yuan, marking the highest monthly fundraising since September 2023[4] - For the entire year of 2025, a total of 116 new stocks were listed, raising 131.77 billion yuan, which represents increases of 16% and 96% compared to the same period in 2024, respectively[5] - The monthly fundraising amount in December 2025 exceeded 30 billion yuan, driven by several large projects including Moer Thread and Muxi Co., which raised over 4 billion yuan each[3] Initial Performance of New Stocks - In December 2025, 14 out of 15 new stocks listed on the Shanghai and Shenzhen markets adopted offline issuance, with an average first-day increase of 249%, continuing the upward trend from November[11] - The average first-day increase for new stocks on the Sci-Tech Innovation Board exceeded 300%, with Moer Thread and Muxi Co. seeing increases of over 600% and 400%, respectively[14] - The main board saw an average first-day increase of 200% for its four new stocks, with China Uranium Industry leading at 269%[14] Subscription Returns - In December 2025, the estimated returns for A/B class accounts from new stock subscriptions were 5.48 million yuan and 2.87 million yuan, respectively, marking the highest monthly returns of the year[21] - The returns from the Sci-Tech Innovation Board's new stocks contributed significantly, with the average return for A/B class accounts being 4.71 million yuan and 2.13 million yuan, respectively[21] Investment Strategy and Risks - The current optimal strategy is to participate in low-priced, small-cap new stocks with expected first-day increases exceeding expectations, as well as large-cap stocks with significant offline allocation[22] - Risks include an increased rate of new stock price declines and a potential decrease in subscription success rates, which could impact overall returns[3]

Group 1 - The core viewpoint of the news is that Tian Su Measurement has shown fluctuations in its stock performance and financing activities, with a notable drop in stock price on January 5, 2025 [1] - On January 5, 2025, Tian Su Measurement's stock price fell by 2.29%, with a trading volume of 381 million yuan [1] - The financing buy-in amount on January 5 was 29.36 million yuan, while the financing repayment was 19.33 million yuan, resulting in a net financing buy-in of 10.03 million yuan [1] Group 2 - As of January 5, 2025, the total balance of margin trading for Tian Su Measurement was 54.57 million yuan, accounting for 4.75% of its circulating market value [1] - The company has not engaged in any short selling activities on January 5, with no shares sold or repaid [1] - Tian Su Measurement, established on June 17, 2009, specializes in measurement calibration, testing, and certification services across various sectors, including biomedicine, automotive, and renewable energy [1] Group 3 - As of December 23, 2025, the number of shareholders for Tian Su Measurement reached 20,200, reflecting a significant increase of 201,920% [2] - For the period from January to September 2025, the company reported a revenue of 648 million yuan, representing a year-on-year growth of 12.12% [2] - The net profit attributable to the parent company for the same period was 92.99 million yuan, showing an increase of 11.62% year-on-year [2]

Core Viewpoint - Tian Su Measurement experienced a significant decline of 24.93% in stock price on December 24, with a trading volume of 602 million yuan. The company reported a net financing purchase of 6.85 million yuan on the same day [1]. Group 1: Financial Performance - For the period from January to September 2025, Tian Su Measurement achieved a revenue of 648 million yuan, representing a year-on-year growth of 12.12% [2]. - The net profit attributable to the parent company for the same period was 92.99 million yuan, reflecting a year-on-year increase of 11.62% [2]. Group 2: Shareholder and Market Data - As of December 23, the number of shareholders for Tian Su Measurement reached 20,200, marking an increase of 201,920% compared to the previous period [2]. - The average number of circulating shares per shareholder was 688 shares, with no change from the previous period [2]. Group 3: Financing and Margin Data - On December 24, the financing purchase amount for Tian Su Measurement was 30.49 million yuan, with a total financing balance of 42.99 million yuan, accounting for 4.07% of the circulating market value [1]. - There were no shares sold or repaid in the margin trading on December 24, indicating a stable margin position with a balance of 0 yuan [1]. Group 4: Company Overview - Tian Su Measurement, established on June 17, 2009, is located in Longgang District, Shenzhen, Guangdong Province. The company specializes in measurement calibration, testing, and certification services across various sectors, including biomedicine, automotive, new energy, rail transportation, energy power, light industry, and equipment manufacturing [1]. - The revenue composition of the company's main business includes measurement calibration services (83.63%), testing services (16.23%), and certification services (0.14%) [1].

Group 1 - N Tian Su (301449) was listed today, opening with a rise of 113.32%, and closing with an increase of 174.48%, with a total trading volume of 11.7965 million shares and a turnover of 1.019 billion yuan, resulting in a turnover rate of 84.79% [2] - The company is primarily engaged in measurement calibration, testing, and certification professional technical services [3] - The total issuance volume for the company was 16.3043 million shares, with an online issuance volume of 7.0925 million shares, an issuance price of 36.80 yuan per share, and a price-to-earnings ratio of 21.78 times, compared to the industry average of 35.72 times [3] Group 2 - The first-day performance of newly listed stocks includes N Na Baichuan (301667) with a closing price of 115.00 yuan and a rise of 408.17% with a turnover rate of 86.16%, and N Xi Hua (603248) with a closing price of 36.81 yuan and a rise of 264.46% with a turnover rate of 80.28% [3] - The company's initial fundraising amount was 600 million yuan, primarily allocated to regional measurement testing laboratory construction projects, enhancement of measurement testing capabilities at the Shenzhen headquarters, working capital supplementation, and digital center construction projects [3]

Group 1 - N Tian Su (301449) was listed today, opening with a rise of 113.32%, and by the end of the morning session, the increase expanded to 120.65% with a trading volume of 8.309 million shares and a transaction value of 680 million yuan, resulting in a turnover rate of 59.72% [2] - The company’s main business includes measurement calibration, testing, and certification professional technical services [3] - The total issuance amount for the company was 16.3043 million shares, with an online issuance volume of 7.0925 million shares at an issuance price of 36.80 yuan per share, resulting in a price-to-earnings ratio of 21.78, compared to the industry average of 35.72 [3] Group 2 - The company raised a total of 600 million yuan through its initial public offering, with the funds primarily allocated to regional measurement and testing laboratory construction projects, enhancement of measurement and testing capabilities at the Shenzhen headquarters, working capital supplementation, and digital center construction projects [3] - Other newly listed stocks today include N Na Baichuan (301667), which saw a price increase of 215.86% with a turnover rate of 63.59%, and N Xi Hua (603248), which increased by 146.04% with a turnover rate of 50.22% [2][3]

Group 1 - The company focuses on passive optical devices in the optical communication field, with a total market value of 1.827 billion yuan and an issuance price of 31.59 yuan per share [2][3] - The company has achieved significant revenue growth, with projected net profit of 1.315 billion yuan in 2024, representing a 114.51% increase, and revenue of 613 million yuan in 2023, up 29.05% [3] - The company plans to use the raised funds for the expansion of its manufacturing base in Guilin, expansion of its production base in Vietnam, and to supplement working capital [3] Group 2 - The company is one of the top three leaders in the domestic polyvinyl alcohol industry, with a focus on high-value-added products and strategic partnerships with international firms [7] - The company has a rich customer base, exporting products to over 40 countries, and is actively developing DMC industrialization projects for lithium battery applications [7] Group 3 - The company specializes in wind turbine gearboxes and injection molding machines, providing comprehensive services and has established deep ties with major clients [9] - The company is positioned as a national independent calibration service provider with strong advantages in the new energy battery testing sector, aiming for significant growth by 2024 [10]