近期，IPO市场亮点纷呈，港股市场与明星企业上市成为核心看点。 本周周五过会的沐曦股份是一家GPU新秀，其科创板IPO于6月30日获受理，本次IPO拟募资39.04亿元。目前公司尚未盈利，适用于科创板的第四套上市标 准，2024年归母净利润为-14.09亿元。 经同花顺iFinD统计，年内安排上会企业数量已达67家，已超去年全年。另外，从当前的IPO存量企业来看，截至目前，共有275家企业正在排队中，其中北 交所存量IPO企业数量居首，达169家，占比超六成。 一、本周过会 1、沐曦集成电路(上海)股份有限公司 沐曦股份IPO计划发行不超过4010万股A股普通股，拟募集资金39.04亿元，其保荐人为华泰联合证券有限责任公司。 沐曦股份上市募集资金用于投资"新型高性能通用GPU研发及产业化项目""新一代人工智能推理GPU研发及产业化项目"和"面向前沿领域及新兴应用场景的 高性能GPU技术研发项目"。 招股书显示，陈维良合计控制沐曦股份22.94%的股权，并且拥有公司董事会除独立董事之外半数以上成员提名权，为发行人实际控制人。公司主要股东包 括混沌投资及其一致行动人葛卫东、经纬创投、和利资本、红杉资本等一众明星投 ...

中国经济网北京10月25日讯 北京证券交易所上市委员会2025年第26次审议会议于昨日上午召开， 审议结果显示，江苏爱舍伦医疗科技集团股份有限公司（以下简称"爱舍伦"）符合发行条件、上市条件 和信息披露要求。这是今年过会的第64家企业（其中，上交所和深交所一共过会39家，北交所过会25 家）。 爱舍伦的保荐机构为东吴证券股份有限公司，保荐代表人为林文茂、赵昕。这是东吴证券今年保荐 成功的第2单IPO项目。此前，8月4日，东吴证券保荐的中诚智信工程咨询集团股份有限公司过会。 爱舍伦长期专注于医疗健康事业，主要从事应用在专业的康复护理与医疗防护领域的一次性医用耗 材的研发、生产和销售，通过ODM/OEM等方式为国际知名医疗器械品牌厂商提供相关产品。 截至招股说明书签署日，江苏诺维克持有公司股份40,394,700股，占公司总股本的79.58%，系公司 的控股股东。张勇直接持有公司1.97%的股权，通过控股股东江苏诺维克间接持有公司79.58%的股权， 通过洛威尼森及普洛瑞斯分别控制公司4.33%及2.81%的股权，张勇合计控制公司88.69%的股权，并担 任公司董事长、总经理，为公司实际控制人。 爱舍伦本次初始发 ...

10月24日晚间，北京证券交易所（简称"北交所"）上市委员会（简称"上市委"）今年第26次审议会议结 果出炉， 江苏爱舍伦医疗科技集团股份有限公司（简称"爱舍伦"）符合发行条件、上市条件和信息披 露要求。 招股书表示，重点客户的销售订单对于公司的经营业绩有较大的影响，如果该等客户受到相关贸易政策 的影响，或者公司与其稳定合作的关系发生变动，将可能对公司的经营业绩产生不利影响，公司将面临 一定的因客户集中度较高和大客户依赖而导致的经营风险。 不过，2022年至今年上半年，公司对前五客户的销售金额约分别为4.7亿元、4.96亿元、5.97亿元和3.87 亿元，占比分别为81.99%、86.27%、86.27%和88.40%，均不断攀升。 公司业绩稳定增长，重点客户对公司经营影响较大 爱舍伦主要从事应用在专业的康复护理与医疗防护领域的一次性医用耗材的研发、生产和销售，通过 ODM/OEM等方式为国际知名医疗器械品牌厂商提供相关产品。此次公司计划募资3亿元，用于凯普乐 公共卫生医疗物资产业园建设项目。 近年来，公司业绩呈现稳定增长趋势。招股书显示，2022年、2023年、2024年及今年上半年分别实现销 售收入5.7 ...

IPO Review and Registration Progress - Three companies successfully passed the IPO review last week, including Youxun Co., Ltd., Angrui Microelectronics, and Tian Su Measurement [2][3] - Youxun Co., Ltd. focuses on the research, design, and sales of optical communication front-end transceiver chips, aiming to raise 809 million yuan for the development of next-generation data center chips and automotive chips [2] - Angrui Microelectronics specializes in RF front-end chips and plans to raise 2.067 billion yuan for 5G RF chip development and industrial upgrades [3] - Tian Su Measurement provides calibration and testing services, achieving a revenue of 409 million yuan in the first half of 2025, with a year-on-year growth of 11.99% [3] Upcoming IPOs - Four companies are scheduled for IPO reviews this week, including Jianxin Superconductor, Shuangxin Environmental Protection, Aishalun, and Muxi Co., Ltd. [4] - Jianxin Superconductor focuses on MRI equipment components, with revenues projected to decline by 5.58% in 2024 due to market pressures [4][5] - Shuangxin Environmental Protection has seen revenue declines of 25.25% and 7.85% in 2023 and 2024, respectively, due to reduced market demand [5] - Aishalun generates over 90% of its revenue from overseas, with projected revenues of 692 million yuan in 2024 [5] New Stock Listings - Two new stocks were listed last week: Changjiang Nengke and Daoshengtianhe, with the latter seeing a first-day increase of 396.32% [10][11] - Changjiang Nengke specializes in energy chemical equipment, while Daoshengtianhe is a leading supplier of materials for wind turbine blades [10][11] New Stock Subscription - Daming Electronics is set to launch a new stock subscription on October 24, aiming to raise approximately 400 million yuan for new factory projects and working capital [12] - The company focuses on automotive electronic components, with projected revenues of 2.727 billion yuan in 2024 [12]

Core Insights - Four companies are set to present their IPO applications, with a focus on various sectors including environmental protection, medical imaging, and artificial intelligence [1] Group 1: Upcoming IPOs - Double Xin Environmental Protection plans to list on the Shenzhen Main Board, aiming to raise 1.865 billion yuan for projects related to PVB resin and functional films, among others [1][2] - Two companies, Jianxin Superconductor and Muxi Co., are targeting the Sci-Tech Innovation Board (STAR Market) with proposed fundraising amounts of 775 million yuan each [1][3] - Aishalen is preparing for an IPO on the Beijing Stock Exchange, with a target of raising 300 million yuan [1][4] Group 2: Company Profiles - Double Xin Environmental Protection specializes in the research, production, and sales of PVA and related products, boasting a full industry chain layout [2] - Jianxin Superconductor focuses on the development and production of core components for medical MRI equipment [3] - Muxi Co. is engaged in the research, design, and sales of full-stack GPU products for AI training and general computing [3] - Aishalen is dedicated to the medical health sector, producing disposable medical supplies for rehabilitation and protection [4]

IPO and Financing Overview - Four companies are scheduled for IPO review next week (October 20-24), aiming to raise a total of 6.844 billion yuan [1] - Two companies are set for refinancing, with a total planned fundraising of 1.3 billion yuan [5] Company Summaries 1. Jianxin Superconducting Technology Co., Ltd. - The company plans to reduce its fundraising target from 865 million yuan to 775 million yuan, removing the supplementary working capital project [2] - Jianxin focuses on the R&D, production, and sales of core components for MRI equipment, including superconducting magnets, which account for approximately 50% of the cost of MRI equipment [7] - The company has been a pioneer in the mass production of high-field superconducting magnets in China, breaking the long-standing monopoly of foreign manufacturers since 2015 [7] 2. Muxi Integrated Circuit (Shanghai) Co., Ltd. - Muxi specializes in the R&D, design, and sales of high-performance GPU chips and computing platforms, targeting AI training and inference applications [10] - The company has established itself as one of the few in China with comprehensive capabilities in high-performance GPU chip development [10] 3. Shuangxin Environmental Protection Materials Co., Ltd. - Shuangxin is engaged in the R&D, production, and sales of products along the PVA (polyvinyl alcohol) industry chain, including PVA and its specialty fibers [15] - The company has a complete PVA industry chain layout and is controlled by Inner Mongolia Shuangxin Energy Chemical Co., Ltd. [15] 4. Aishalen Medical Technology Group Co., Ltd. - Aishalen focuses on the R&D, production, and sales of disposable medical consumables for rehabilitation and medical protection [19] - The company provides a range of medical dressing products, including medical care pads and surgical gowns [19] Financial Performance Jianxin Superconducting - Total assets as of June 30, 2025, were 688.99 million yuan, with a net profit of 31.92 million yuan for the first half of 2025 [9] - The company has maintained a steady increase in revenue, with a net profit margin of 6.64% [9] Muxi Integrated Circuit - As of March 31, 2025, total assets were approximately 1.046 billion yuan, but the company reported a net loss of 232.51 million yuan for the first quarter of 2025 [12] Shuangxin Environmental Protection - For the first half of 2025, total assets were 623.58 million yuan, with a net profit of 281.08 million yuan [17] - The company has shown a consistent revenue stream, with a net profit margin of 5.95% [17] Aishalen Medical Technology - As of June 30, 2025, total assets were approximately 1.201 billion yuan, with a net profit of 49.43 million yuan [21] - The company has demonstrated a stable growth trajectory, with a net profit margin of 6.61% [21]

Core Viewpoint - Zhejiang Gongdong Medical Technology Co., Ltd. reported a significant decline in net profit for the first half of 2025, primarily due to the impact of U.S. tariff policies, domestic medical procurement policies, and reduced product prices, leading to a 47.16% decrease in net profit compared to the same period last year [2][3][5]. Company Overview and Financial Indicators - The company’s main business involves the research, production, and sales of disposable medical consumables, categorized under specialized equipment manufacturing [4][5]. - Key financial data for the first half of 2025 includes: - Revenue: CNY 556.92 million, a slight increase of 0.58% year-on-year - Total profit: CNY 55.86 million, a decrease of 47.86% - Net profit attributable to shareholders: CNY 50.35 million, a decrease of 47.16% - Basic earnings per share: CNY 0.23, down 46.51% [2][3][4]. Industry Analysis - The global medical device market is projected to grow from USD 562.6 billion in 2024 to USD 886.8 billion by 2032, with a compound annual growth rate (CAGR) exceeding 6% [5]. - The medical device and consumables industry is characterized by inelastic demand, with consumption being less affected by economic cycles [5][6]. - The industry does not exhibit significant seasonal characteristics, although certain holidays may affect logistics and inventory levels [5][6]. Business Operations - The company has established a comprehensive product line in the disposable medical consumables sector, including blood collection, medical testing, and drug packaging materials [7][14]. - The procurement strategy focuses on centralized purchasing to enhance inventory management and reduce costs, utilizing a "make-to-order" model [8][9]. - The production process adheres to ISO13485 quality management standards, ensuring compliance with both domestic and international regulations [10][15]. Competitive Advantages - The company emphasizes a customized product strategy to differentiate itself in the low-value consumables market, enhancing product value and avoiding price wars [11][12]. - A strong focus on technological innovation and quality control has solidified the company's market position, allowing it to compete effectively against foreign enterprises [6][12][13]. Future Outlook - The company aims to enhance its product offerings and market presence through localized production and strategic partnerships, particularly in the U.S. market [13][14]. - Continuous investment in R&D and customer-oriented services is expected to drive future growth and maintain competitive advantages in the medical consumables sector [12][15].

Group 1 - The core viewpoint of the articles highlights the performance and valuation of Gongdong Medical, which has a closing price of 19.68 yuan and a rolling PE ratio of 28.19 times, with a total market value of 4.339 billion yuan [1][2] - Gongdong Medical ranks 61st in the medical device industry, which has an average PE ratio of 51.29 times and a median of 37.02 times [1][2] - As of March 31, 2025, Gongdong Medical has 8,909 shareholders, an increase of 735 from the previous count, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Group 2 - Gongdong Medical specializes in the research, production, and sales of disposable medical consumables, with main products including medical testing, blood collection, collection, medical care, and drug packaging [1] - In the latest quarterly report for Q1 2025, Gongdong Medical reported an operating income of 264 million yuan, a year-on-year decrease of 2.74%, and a net profit of 27.41 million yuan, down 39.23% year-on-year, with a gross profit margin of 32.40% [1]