Core Viewpoint - Jiangsu Yongding Co., Ltd. announced that its subsidiary, Eastern Superconductor Technology (Suzhou) Co., Ltd., will sign a debt-to-equity conversion agreement with Industrial Guoxin Asset Management Co., Ltd. This agreement involves converting 12 million RMB of convertible bond loans into equity investment, which will result in a slight decrease in Yongding's ownership percentage in Eastern Superconductor while maintaining control over the subsidiary [2][3][6]. Group 1: Transaction Overview - The debt-to-equity conversion involves converting 12 million RMB of the 30 million RMB convertible bond loan into an investment in Eastern Superconductor, based on a pre-investment valuation of 63 million RMB [2][5]. - After the conversion, Yongding's direct ownership in Eastern Superconductor will decrease from 60.9524% to 59.8131%, while the total ownership by Yongding and its wholly-owned subsidiary will decrease from 67.4286% to 66.1682% [3][6]. - The transaction has been approved by the company's board and does not require shareholder approval, as it does not constitute a related party transaction or a major asset restructuring [8][9]. Group 2: Impact on Company - The debt-to-equity conversion is expected to enhance Eastern Superconductor's operational strength and address urgent funding needs, potentially attracting strategic investors and new business opportunities [40]. - The company will continue to maintain actual control over Eastern Superconductor post-conversion, ensuring that the arrangement does not adversely affect its financial status or normal operations [40]. - The arrangement of the buyback rights associated with this transaction is designed to be manageable and will not harm the interests of the company or its shareholders, particularly minority shareholders [40].

《科创板日报》18日讯，据上交所官网披露，上海超导科技股份有限公司科创板首发申请获得上交所受 理。此次上海超导拟募集资金12.00亿元，保荐机构为中金公司。 上海超导科创板IPO申请获受理 ...

American Superconductor (AMSC) Q4 2025 Earnings Call May 22, 2025 10:00 AM ET Company Participants Nicol Golez - Director - CommunicationsDaniel McGahn - Chairman, President & CEOJohn Kosiba - CFO, Senior VP & TreasurerColin Rusch - Managing Director - Head of Sustainable Growth & Resource Optimization Research Conference Call Participants Eric Stine - Senior Research AnalystJustin Clare - MD & Research Analyst Operator Good morning, and welcome to the AMSC Fourth Quarter Fiscal twenty twenty four Financial ...

供应链与客户依赖的双重挤压 宁波健信超导科技股份有限公司（以下简称"健信超导"）冲刺科创板IPO的背后，隐藏着多重潜在风 险，这些风险不仅暴露了企业经营中的结构性矛盾，也引发了市场对其"硬科技"成色和上市动机的质 疑。结合多篇公开报道及招股书信息，其核心风险可归纳如下： 健信超导在产业链中处于弱势地位，上下游集中度"双高"问题尤为突出。报告期内，公司前五大客户贡 献营收占比逐年攀升至近80%，其中第一大客户富士胶片集团占比超40%，客户集中度远超行业警戒 线。 尽管宣称资金紧张需募资9000万元补流，但公司过去三年累计分红5999万元，董事长许建益个人独揽 2491万元。这种"左手分红、右手募资"的模式被质疑为变相套现，损害中小股东利益。招股书显示，公 司营运资金平均占营收比例达58.13%，高分红行为与经营现金流压力形成鲜明反差，暴露其资本运作 逻辑的合理性存疑。 政策依赖与国际竞争压力 技术护城河缺失 作为技术密集型行业，健信超导的研发投入严重不足。2022-2024年研发费用率仅5.66%、5.42%、 6.50%，不足同行可比公司（14%-18%）的三分之一。截至2024年，公司仅拥有42项发明专利， ...

搭载超导推进系统的电动飞机掠过江面，向远处飞去。 超导磁悬浮列车以时速1000公里平稳行驶，北京至上海只需一个多小时。 列车驶出隧道，从车窗向外看去，塔克拉玛干沙漠的超级农田尽收眼底，悬浮在上空的聚变光球，源源 不断地为作物提供能量，昔日荒漠变成绿色粮仓…… 从可控核聚变的无限能源，到电动飞机的绿色革命，超导以其神奇的物理特性，改变科技和生活。 可控核聚变 可控核聚变可以从根本上解决人类的能源问题，被许多国家列为未来能源的重要战略方向。基于超导磁 体的磁约束聚变技术最具工程化潜力，其核心特征是通过超导磁体产生的环形强磁场在真空腔内约束高 温等离子体，形成类似"磁笼"的约束环境。 想象一下，未来超导可能如何影响人类生活？ 晨光中，城市道路行驶的汽车，正通过地下的超导无线充电设备实时补能。 磁约束聚变装置内部存在着极端的温度环境：超导磁体需要低于零下200摄氏度的低温环境来维持超导 特性，而被束缚的氘氚等离子体却高达上亿摄氏度，这相当于将太阳装进冰箱，是当前最具挑战性的前 沿工程技术之一。近年来，高温超导材料和磁体技术快速发展，可在较高的温区产生远高于低温超导材 料的磁场，成为目前推动聚变装置发生变革性突破、实现 ...