这场资本狂欢始于8月21日晚间的一则公告。 天普股份宣布，中昊芯英拟通过"协议转让+增资控股股东"两步走方式获取天普股份控制权。这意味 着，中昊芯英将借天普股份这个"壳"完成上市。 对于一家主要客户包括福特、江铃、吉利、丰田等知名车企的天普股份而言，为何此次会有机会成为别 人的囊中之物呢？ 这或与近年来随着新能源汽车市场占有率提升，燃油车份额持续下降，天普控股业务发展受到冲击有 关。 9月23日，天普股份（605255）（605255.SH）再次一字涨停，开盘价定格在111.28元，这是该股连续第 15个交易日涨停，今年累计涨幅高达790%。 从8月22日启动至今，这家主营汽车橡胶管路的公司股价累计涨幅已近300%，市值从不足40亿元飙升至 135.64亿元。 与AI芯片新贵充满变数的牵手 天普股份的股价表现，堪称2025年下半年A股市场最引人注目的热点之一。 这家主营汽车橡胶管路的传统制造企业连续15个交易日涨停，今年累计涨幅高达790%，近20日涨幅达 214%。 根据公告，中昊芯英在历次股权融资中签有对赌协议，触发条件包括：2026年12月31日前未能完成合格 IPO或被收购，以及2024年和2025年 ...

从8月22日启动至今，这家主营汽车橡胶管路的公司股价累计涨幅已近300%，市值从不足 40亿元飙升至135.64亿元。 9月23日，天普股份（605255.SH）再次一字涨停，开盘价定格在111.28元， 这 是该股连续第 15个交易日涨停 ， 今年累计涨幅高达790% 。 与A I芯片新贵充满变数的牵手 天普股份的股价表现，堪称2025年下半年A股市场最引人注目的热点之一。 这家主营汽车橡胶管路的传统制造企业连续15个交易日涨停，今年累计涨幅高达790%，近20 日涨幅达214% 。 这场资本狂欢始于8月21日晚间的一则公告。 记者丨石恩泽 编辑丨朱益民 天普股份宣布，中昊芯英拟通过"协议转让+增资控股股东"两步走方式获取天普股份控制权。 收购方中昊芯英则是一家AI芯片设计企业，由曾任谷歌主任工程师的"80后"杨龚轶凡创办。 该公司自称是国内唯一掌握高性能TPU架构AI专用算力芯片研发技术并实现量产的企业，这 使得中昊芯英在资本市场里极具想象力。 对于此番控股权的获取，中昊芯英展现出了诚意，拟以23.98元/股的价格受让天普股份 10.75%的股份，转让价款合计3.46亿元。 同时，还拉来了一位新股东自然人 ...

（原标题：15连板，跨界易主的天普股份涨了个寂寞？） 21世纪经济报道记者 石恩泽 深圳报道 9月23日，天普股份（605255.SH）再次一字涨停，开盘价定格在111.28元，这是该股连续第15个交易日 涨停。 从8月22日启动至今，这家主营汽车橡胶管路的公司股价累计涨幅已近300%，市值从不足40亿元飙升至 135.64亿元。 这场资本狂欢的起点是一则控制权变更公告：AI芯片"准独角兽"中昊芯英拟通过"股份转让+增资控股股 东+全面要约"的方式入主这家传统制造业企业。 与AI芯片新贵充满变数的牵手 天普股份的股价表现，堪称2025年下半年A股市场最引人注目的热点之一。 这家主营汽车橡胶管路的传统制造企业连续15个交易日涨停，今年累计涨幅高达790%，近20日涨幅达 214%。 这场资本狂欢始于8月21日晚间的一则公告。 天普股份宣布，中昊芯英拟通过"协议转让+增资控股股东"两步走方式获取天普股份控制权。这意味 着，中昊芯英将借天普股份这个"壳"完成上市。 对于一家主要客户包括福特、江铃、吉利、丰田等知名车企的天普股份而言，为何此次会有机会成为别 人的囊中之物呢？ 这或与近年来随着新能源汽车市场占有率提升， ...

Core Viewpoint - Tianpu Co., Ltd. has experienced a significant stock price surge following the announcement of a change in control, with the new controlling entity being the AI chip technology company Zhonghao Xinying [3][4]. Group 1: Stock Performance and Trading - Tianpu Co., Ltd. stock was suspended from trading on August 15 due to a planned change in control, and it resumed trading on August 22, subsequently experiencing a continuous rise for 11 trading days, with a total increase of 185.29% [4]. - During the same period, the Shanghai Composite Index rose by 3.98%, and the automotive parts industry index increased by 5.9%, indicating that Tianpu's stock performance significantly outpaced these benchmarks [4]. Group 2: Control Change and Management Insights - The controlling shareholder, You Jianyi, is transferring control to Zhonghao Xinying, led by Yang Gongyifan, who has a strong background in AI chip development [5][6]. - You Jianyi cited personal limitations and a lack of successors as reasons for the control transfer, aiming to bring in new management to drive the company's transformation and sustainable development [6][7]. Group 3: Financial Overview - For 2024, Tianpu Co., Ltd. is projected to achieve a revenue of 342 million yuan, a slight decrease of 1.75% year-on-year, with a net profit of 33.07 million yuan, reflecting an increase of 8.03% [7]. - In the first half of 2025, the company expects a revenue of 151 million yuan, down 3.44% year-on-year, and a net profit of 11.30 million yuan, down 16.08% [7].

Core Viewpoint - The stock price of Tianpu Co., Ltd. experienced significant fluctuations due to a change in control, with a cumulative increase of 135.77% over nine consecutive trading days, raising concerns about compliance and information disclosure [4][6]. Group 1: Stock Price Movement - Tianpu Co., Ltd. announced a stock price increase of 135.77% from August 22 to September 3, 2025, with multiple instances of severe abnormal fluctuations [4]. - The company received two regulatory letters from the Shanghai Stock Exchange regarding the abnormal stock price movements and the need for clarification on the legitimacy of the funding sources for the control transfer [6][9]. Group 2: Control Change and Compliance Issues - The control change involves a transfer of 10.75% of shares from the current actual controller to Zhonghao Xinying, which may lead to Zhonghao Xinying becoming the new actual controller [6]. - Concerns have been raised regarding the legality of the funding sources for the acquisition, as the company has not provided sufficient details on the funding channels and has received regulatory inquiries about this matter [9][11]. Group 3: Potential for Shell Listing - Zhonghao Xinying's acquisition of Tianpu Co., Ltd. is perceived as a potential shell listing strategy, as the company has not initiated an IPO process and may rely on this acquisition for capital market entry [7]. - The transaction structure involves a three-step approach of share transfer, capital increase, and a comprehensive tender offer, indicating a strategic move towards asset securitization [8]. Group 4: Integration and Business Strategy - There is a lack of clarity regarding the integration plan between Tianpu Co., Ltd. and Zhonghao Xinying, with no clear explanation of how AI chip technology will enhance the existing automotive components business [12]. - The absence of a defined integration strategy raises concerns among shareholders, employees, and suppliers about the future direction of the company and potential impacts on existing operations [12].