Group 1 - Kanghong Pharmaceutical received a drug registration certificate for Lifisig Eye Drops, approved for treating dry eye symptoms [1] - Kanghong Biotech, a wholly-owned subsidiary, received clinical trial approval for KH813 injection for metastatic non-squamous non-small cell lung cancer [1] - Kanghong Pharmaceutical was established in October 1996, focusing on drug and medical device research, production, and sales [1] Group 2 - Guoyuyuan's subsidiary received a government subsidy of 7.5521 million yuan, accounting for 10.14% of the company's audited net profit for 2024 [2] - Guoyuyuan was founded in November 1996, specializing in drug research, production, and sales [3] Group 3 - Haicheng Bonda's subsidiary signed a lease termination agreement, incurring a termination fee of 3.35 million USD [4] - Haicheng Bonda was established in December 2009, providing comprehensive modern logistics services [4] Group 4 - Hongxin Electronics' subsidiary signed contracts totaling 373 million yuan for computing power business [5] - Hongxin Electronics was founded in September 2003, focusing on FPC research, design, manufacturing, and sales [6] Group 5 - Tianbang Food reached a settlement agreement regarding a 1.214 billion yuan lawsuit, agreeing to repay 410 million yuan over 36 months [8] - Tianbang Food was established in September 1996, specializing in pig farming and pork processing [9] Group 6 - Daoshi Technology's controlling shareholder plans to reduce holdings by up to 1.97% of the company's shares [10] - Daoshi Technology was founded in September 2007, focusing on ceramic color glazes and related products [10] Group 7 - Jinpu Titanium is planning a major asset restructuring, leading to a stock suspension [10] - Jinpu Titanium was established in November 1989, specializing in titanium dioxide production and sales [11] Group 8 - Shenzhen Energy plans to invest 6.332 billion yuan in upgrading the Mawan Power Plant [12] - Shenzhen Energy was founded in August 1993, focusing on conventional and renewable energy development [13] Group 9 - Lihua Co. plans to reduce holdings by up to 3% of the company's shares [14] - Lihua Co. was established in June 1997, specializing in the breeding and sales of poultry [15] Group 10 - China Communications Construction Company plans to repurchase shares worth 500 million to 1 billion yuan [16] - China Communications Construction Company was founded in October 2006, focusing on infrastructure design and construction [17] Group 11 - Huatiankeji's subsidiary received a government subsidy of 80.6569 million yuan, accounting for 13.09% of the company's latest audited net profit [20] - Huatiankeji was established in December 2003, specializing in integrated circuit packaging and testing [21] Group 12 - Luxin Chuangtou plans to acquire shares in Hongke Electronics for a total of 9 million yuan [23] - Luxin Chuangtou was founded in November 1993, focusing on venture capital and industrial development [24] Group 13 - Feilong Co.'s controlling shareholder plans to reduce holdings by up to 563,250 shares [25] - Feilong Co. was established in January 2001, specializing in thermal management components for automotive and civil applications [26] Group 14 - Linglong Tire submitted an application for H-share listing on the Hong Kong Stock Exchange [27] - Linglong Tire was founded in June 1994, focusing on tire design, development, manufacturing, and sales [27] Group 15 - Saiwei Electronics plans to acquire 9.5% of its subsidiary's shares for up to 324 million yuan [28] - Saiwei Electronics was established in May 2008, focusing on MEMS chip development and semiconductor equipment [28] Group 16 - Suzhou Bank's major shareholder plans to increase holdings by no less than 400 million yuan [29] - Suzhou Bank was founded in December 2004, focusing on various banking services [29]

Core Viewpoint - Company Qizhong Technology plans to raise up to 850 million yuan through convertible bonds to invest in two projects aimed at enhancing its advanced packaging and testing capabilities for integrated circuits [1][5]. Investment Projects - The total investment for the high-pin-count micro-sized bump packaging and testing project is approximately 41.95 million yuan, with the company planning to use 41.9 million yuan from the raised funds [3]. - The advanced power and flip-chip packaging technology renovation project at Qizhong Technology (Suzhou) has a total investment of about 43.17 million yuan, with 43.1 million yuan expected to be funded from the new issuance [3]. - The combined total investment for both projects is around 85.11 million yuan, with the company intending to utilize 85 million yuan from the fundraising [3]. Business Focus and Market Position - Over half of the raised funds will be allocated to enhance the packaging and testing capacity for non-display chips, which currently contribute less than 10% to the company's revenue in 2024 [5]. - Qizhong Technology is one of the few domestic firms capable of large-scale production of various bump manufacturing technologies and has maintained a leading position in advanced packaging technology [6]. - The company reported a projected revenue of nearly 2 billion yuan in 2024, with its display driver chip packaging business expected to sell 1.845 billion units, generating 1.758 billion yuan in revenue, ranking third globally in this sector [6]. Financial Performance and Stock Status - Since its IPO in April 2023, Qizhong Technology's stock has underperformed, trading below its initial offering price of 12.1 yuan per share, with a notable drop to around 8 yuan [9]. - The company has experienced a decline in net profit, reporting 313 million yuan in 2024, a decrease of 15.71% year-on-year, attributed to rising costs such as equipment depreciation and employee compensation [10]. - The company plans to repurchase shares at a price not exceeding 16.61 yuan per share, with a total repurchase amount between 75 million and 150 million yuan [9].

[Table_Info1] 证券研究报告 [Table_Title] 证券研究报告 / 债券研究报告 [Table_Report] 相关报告 甬矽转债定价：首日转股溢价率 23%~28% ---东北固收转债分析 报告摘要： [Table_Summary] 6 月 24 日，甬矽电子发布公告，拟于 2025 年 6 月 26 日通过网上发行可 转债，公司本次计划发行可转换公司债券募集资金总额不超过 11.65 亿 元。其中 9 亿元拟用于投资"多维异构先进封装技术研发及产业化项目"， 总投资 14.64 亿元；2.65 亿元拟用于补充流动资金。 甬矽转债发行方式为优先配售，网上发行，债项和主体评级 A+。发行规 模为 11.65 亿元，初始转股价格为 28.39 元，参考 6 月 25 日正股收盘价 格 29.46 元，转债平价 103.77 元，参考同期限同评级中债企业债到期收 益率（6 月 24 日）为 5.97%，到期赎回价 113 元，计算纯债价值为 83.7 元。博弈条款方面，下修条款（15/30，85%）正常、赎回条款（15/30， 130%）正常、回售条款（30/30，70%）正常。综合来看，债券 ...

一场"苏超"联赛的狂欢，让江苏"十三太保"的"内斗"文化再次出圈。 网友戏称江苏"散装"，但在这看似各自为政的竞争背后，却是中国第二大经济体的硬核底气——13个地 级市个个身怀绝技，产业版图百花齐放。即便在足球场上胜负仍有悬念，但若论经济实力，这场"十三 太保"的较量早已胜负分明。 01 "苏大强"领跑：万亿俱乐部与产业高地 从经济总量看，苏州以2024年GDP 2.67万亿元的绝对优势稳居榜首，不仅是江苏唯一突破两万亿的城 市，更以全国地级市"天花板"的姿态傲视群雄，辖下昆山市也已连续20年蝉联全国百强县（市）榜首。 2024年，苏州规上工业总产值突破4.7万亿元，外贸进出口额达2.62万亿元，堪称"世界工厂"与"创新雨 林"的结合体，集聚工业企业16万家，拥有电子信息、装备制造、先进材料3大万亿级产业集群、6个国 家先进制造业集群。 此外，苏州港成为全国首个年集装箱吞吐量突破千万的内河港，连续15年位居长江第一（虽然没有自己 的机场）；累计使用外资超1600亿美元，居中国第三；连续5年获评"中国最佳引才城市""中国最佳促进 就业城市"；连续5年入选全国"万家民营企业评营商环境"最佳口碑城市…… 2026年 ...

据介绍，2024年，气派科技在晶圆测试方面完成了第三代半导体、电源管理、MCU、Nor-Fash、LDO 等产品系列的测试开发和量产；引进LaserTrim设备，增加DC/DC、电源管理IC等模拟类器件的测试范 围；新增OTP测试流程，MCU以及Nor-Fash产品测试量产。在高密度大矩阵引线框封装技术方面，公司 持续扩大高密度大矩阵引线的产品覆盖，报告期，公司完成SOP、TSSOP、SOT89的高密度大矩阵集成 电路封装技术的开发，SOP、TSSOP均已大批量生产，SOT89完成设计审核、项目立案、产线架设并通 线。 "半导体行业经过2022、2023年度深度调整后，2024年度在需求上温和复苏，公司订单逐渐增多，产能 利用率有所恢复，经营业绩同比有所改善。"气派科技(688216)副总经理、董事会秘书文正国在2024年 度暨2025年第一季度业绩说明会上表示，随着行业的温和复苏，公司在手订单稳中有升。 资料显示，气派科技是华南地区规模最大的内资集成电路封装测试企业之一，公司掌握了5G基站GaN 射频功放塑封封装技术、高密度大矩阵集成电路封装技术、小型化有引脚自主设计的封装方案、封装结 构定制化设计技术、F ...

证券研究报告：电子 | 公司点评报告 发布时间：2025-05-08 股票投资评级 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 28.30 | | --- | --- | | 总股本/流通股本（亿股）4.08 | / 2.79 | | 总市值/流通市值（亿元）116 | / 79 | | 52 周内最高/最低价 | 37.28 / 16.49 | | 资产负债率(%) | 70.4% | | 市盈率 | 176.88 | | 第一大股东 | 浙江甬顺芯电子有限公 | | 司 | | 研究所 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 分析师:翟一梦 SAC 登记编号:S1340525040003 Email:zhaiyimeng@cnpsec.com 甬矽电子(688362) 盈利能力显著改善 4 月 23 日，公司披露 2024 年年度报告及 2025 年第一季度报 告。 2024 年，公司实现营收 36.09 亿元，同比+50.96%；实现归母 净利润 6,632.75 万元，同比增长 15,971.54 万 ...

证券研究报告：电子 | 公司点评报告 发布时间：2025-05-08 股票投资评级 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 28.30 | | --- | --- | | 总股本/流通股本（亿股）4.08 | / 2.79 | | 总市值/流通市值（亿元）116 | / 79 | | 52 周内最高/最低价 | 37.28 / 16.49 | | 资产负债率(%) | 70.4% | | 市盈率 | 176.88 | | 第一大股东 | 浙江甬顺芯电子有限公 | | 司 | | 研究所 4 月 23 日，公司披露 2024 年年度报告及 2025 年第一季度报 告。 2024 年，公司实现营收 36.09 亿元，同比+50.96%；实现归母 净利润 6,632.75 万元，同比增长 15,971.54 万元；扣非归母净利 润为-2,531.26 万元，同比增长 13,659.71 万元。 2025Q1，公司实现营收 9.45 亿元，同比+30.12%；实现归母净 利润 2,460.23 万元，同比增长 6,005.27 万元。 l 投资要点 规模效应逐渐体现，盈利能力显著改善。 ...