金十数据7月14日讯，海关总署新闻发言人吕大良表示，今年以来，金砖合作机制再次扩员，已经成为 全球南方的"第一方阵"。上半年，我国对其他金砖成员国和伙伴国进出口6.11万亿元，同比增长3.9%， 占我国进出口总值的28.1%。我们将贸易与投资相结合，与研发相结合，支持相关国家改善基础设施， 促进产业转型升级，也带动了贸易增长。在工业领域，金砖大家庭各自发挥比较优势，化工、金属、电 子等产供链合作更为紧密。上半年，我国自其他金砖国家进口的印刷电路、自动数据处理设备的零附件 增幅明显，橡胶、塑料保持增长；我国出口石化机械、金属加工机床等设备也较快增长。 （中国网） 海关总署：上半年我国对其他金砖成员国和伙伴国进出口6.11万亿元 ...

Group 1: Core Theme and Overview - The 19th Hubei-Wuhan Taiwan Week focuses on "Integration Development and Building a Support Point," featuring 14 activities across three main areas: main events, economic and trade industry docking, and youth exchanges [1][4]. Group 2: Artificial Intelligence and Technology - Over 1,300 AI companies in Wuhan have surpassed a total industry scale of 70 billion yuan, with 92 national-level specialized "little giant" companies and 29 listed companies [2]. - The event aims to deepen understanding of AI development trends and explore new paths for integrating AI with the real economy [2]. - Discussions on advanced technologies included topics like autonomous driving, new energy, and vehicle networking during the exchanges [3]. Group 3: Economic Cooperation and Investment - A total of 39 cooperative projects were signed during the Taiwan Week, amounting to 13.975 billion yuan, covering sectors such as semiconductors, new materials, and biomedicine [4]. - Companies like Hushi Electronics and Jingfu Auto Parts are expanding investments in AI-related projects and smart production lines in Hubei [4][5]. Group 4: Youth Engagement and Cultural Exchange - The "2025 Han-Tai Youth Cultural and Sports Carnival" featured various cultural and sports activities, promoting interaction among youth from both sides [6]. - Events like the "Yangtze Cup" fashion competition and innovation and entrepreneurship competitions were held to encourage collaboration and creativity among young talents [7].

Market Overview - On July 8, A-shares opened mixed, with the Shanghai Composite Index up by 0.04%, while the Shenzhen Component and ChiNext indices were in the red. However, by the time of reporting, all three indices turned positive, with the ChiNext index rising over 1% [1][2]. Sector Performance - The morning session saw gains in sectors such as electronics, building materials, telecommunications, and computers, with PCB, CRO, and consumer electronics outsourcing stocks performing well. Conversely, public utilities and banking sectors showed weakness [2][3]. PCB Sector - PCB concept stocks continued to strengthen, with International Composite Materials and Yidong Electronics hitting the 20% daily limit up. Jin'an Guoji achieved a four-day consecutive rise, while Honghe Technology had four limit-up days in six days [8][9]. Pharmaceutical Sector - The pharmaceutical sector was notably strong, with CRO, innovative drugs, and weight-loss drug stocks collectively rising. Lianhuan Pharmaceutical achieved a consecutive limit-up, while companies like Weixin Kang, Hasan Lian, and Xiaofang Pharmaceutical also hit the limit-up. Toxin Pharmaceutical and Ruizhi Pharmaceutical saw increases exceeding 10% [4][5][6]. Notable Stock Movements - Fujilai (301258) surged to a limit-up of 20.01%, reaching a price of 39.28 CNY per share shortly after opening. Other notable stocks included Tuoxin Pharmaceutical and Ruizhi Pharmaceutical, which rose by 13.27% and 12.88%, respectively [5][6]. Regulatory Issues - Ruiskanda faced a trading halt due to a 9.95% drop, attributed to regulatory issues involving its chairman and director, who are under criminal coercive measures for alleged violations related to information disclosure. The company had previously faced administrative penalties from the CSRC [11][13].

【导读】医药股盘初拉升， PCB 概念股持续火热 中国基金报记者 晨曦 大家好！来一起关注最新的市场行情和资讯 ~ 7 月 8 日， A 股三大指数开盘涨跌不一，上证指数高开 0.04% ，深证成指、创业板指飘 绿。盘初市场拉升上行，截至发稿，三大指数集体飘红，创业板指涨超 1% 。 | 3480.61 | ﻳ | 10510.71 | [ | 2154.84 | | --- | --- | --- | --- | --- | | 上证指数 +0.22% | | 深证成指 +0.72% | | 创业板指 +1.16% | 盘面上，上午电子、建材、通信、计算机等板块涨幅居前，电路板、 CRO 、消费电子代工等 概念股走高；公用事业、银行等板块不振。 | Wind热门概念指数 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | CRO | 炒股软件 | 电路板 | 高速铜连接 | 4.06% | 3.26% | 3.01% | 3.01% | | 消费电子代工 | 英伟达产业链 | HBM | Al手机 | 2.11% | 2.6 ...

Core Viewpoint - Coosea Intelligent Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, aiming to raise funds for capacity expansion, R&D enhancement, strategic acquisitions, IT system upgrades, and general corporate purposes, although specific funding amounts and allocations have not been disclosed [1] Company Overview - Established in 2006, Coosea Intelligent is a provider of end-to-end solutions for smartphones, focusing on R&D, design, production, sales, and service [2] - The company is positioned as a significant player in the domestic smartphone brand solutions market, particularly serving local brands lacking independent design and production capabilities [2] - Coosea Intelligent has developed over 526 smartphone models and 46 other smart devices, with a strong emphasis on optimizing its proprietary didoOS to meet customization needs [2] Market Position - According to Frost & Sullivan data, Coosea Intelligent is the second-largest end-to-end solution provider for local smartphone brands by shipment volume in 2024, expected to rise to the top position in Q1 2025 [3] Financial Performance - Coosea Intelligent's revenue for 2022, 2023, and 2024 was approximately 1.713 billion, 2.302 billion, and 2.717 billion RMB, respectively, with profits of about 110 million, 203 million, and 207 million RMB [4] - The company has a high customer retention rate of 92.9% for local brands and 100% for telecom operators in 2024, indicating strong customer loyalty [4] Customer and Supplier Concentration - The revenue concentration from the top five customers was 38.4%, 44.1%, and 42.8% for the years 2022 to 2024, with the largest customer contributing 11.1% in 2022, increasing to 17.4% in 2023, and decreasing to 10.5% in 2024 [4] - In terms of geographical revenue distribution, 35% of the revenue in 2024 came from the Greater China region, while 28.2% came from the Americas [4] Supplier Dependency - Coosea Intelligent faces supplier dependency risks, with procurement from the top five suppliers accounting for 48.8%, 37.6%, and 33.2% of total procurement from 2022 to 2024 [5] - The company does not typically enter into long-term procurement agreements with suppliers, which raises concerns about the stability of raw material supply and pricing [5]

Core Viewpoint - Lens Technology, a leading player in the Apple supply chain, is entering the Hong Kong IPO phase, with the offering scheduled from June 30 to July 4, 2025, and expected trading to begin on July 9, 2025 [1] Group 1: IPO Details - The company plans to issue approximately 262 million H-shares, with 28.84 million shares for Hong Kong and around 233 million shares for international offerings [1] - The expected price range for the shares is between HKD 17.38 and HKD 18.18, with a trading unit of 200 shares [1] - The anticipated net proceeds from the IPO, based on a median price of HKD 17.78, are estimated to be approximately HKD 45.90 billion after expenses [2] Group 2: Use of Proceeds - About 48% of the funds raised will be used to enrich and expand the product and service portfolio, 28% for expanding overseas operations, 14% for enhancing vertical integration and smart manufacturing capabilities, and 10% for working capital and other general corporate purposes [2] Group 3: Market Context and Investor Sentiment - The Hong Kong IPO market is currently attracting significant attention, with many consumer electronics companies pursuing listings [1] - The pricing of Lens Technology's shares reflects a discount of about 25% compared to its A-share price, which aligns with the general trend of Hong Kong shares trading at a discount to A-shares [2] - Previous listings, such as CATL and Hansoh Pharma, have seen their H-shares outperform A-shares, raising investor expectations for Lens Technology [2] Group 4: Cornerstone Investors - The IPO has attracted notable cornerstone investors, with a total subscription amount of approximately USD 191 million (around HKD 1.49 billion) from various well-known investment institutions [3] - Key investors include Xiaomi, UBS AM Singapore, and Oaktree, among others, with Xiaomi and Seiyun Electric each committing USD 10 million [3][4] Group 5: Strategic Goals - The company aims to diversify its financing channels and has broader strategic ambitions, including expanding and optimizing production capacity, enhancing global presence, and improving smart manufacturing systems [6] - Plans include establishing new production lines in Vietnam and Thailand for smart terminal components and smart automotive products, with operations expected to commence by the end of 2025 [6][7] Group 6: Client Diversification - Lens Technology is actively working to reduce its reliance on Apple, with sales to its largest client projected to decrease from 71% in 2022 to below 50% by 2025 [8] - The company is focusing on expanding its customer base and product offerings, including investments in next-generation smart terminal technologies and other sectors like smart automotive and VR products [8][9]

近日，江门市统计局发布2025年1-5月江门经济运行简况，全市经济呈现"总体平稳"的特点。数据显 示，尽管固投持续下行，但江门规上工业增加值、社消零等主要数据依然保持正增长。作为外贸强市， 江门前5个月的外贸进出口值保持较高增长，其中出口增速排名全省第4位。 前5个月，江门市外贸呈现质升量稳的良好发展态势。数据显示，今年1-5月，江门市外贸进出口值为 800.8亿元，比去年同期增长6.7%。据江门海关统计，这一增速高于全国、全省平均水平。其中，出口 686.5亿元，增长9.9%，增速全省排名第4位；进口114.3亿元，下降9.3%。利用外资方面，实际利用外 资7.53亿元，同比增长66.7%。 作为外贸强市，今年前5个月，江门外贸呈现出民营企业进出口快速增长、新兴市场持续向好等特点。 据江门海关数据，前5个月，江门市民营企业进出口462.5亿元，增长12.4%，占57.8%；外商投资企业进 出口330.8亿元，增长0.1%，占41.3%；国有企业进出口7.2亿元，下降15.5%。同期，国家级专精特新企 业进出口6.2亿元，增长39.5%。前5个月，江门市对欧盟、东盟、中国香港等传统市场进出口分别为 117.5 ...

Group 1 - The core viewpoint of the article is that Coosea Intelligent Technology Co., Ltd. is preparing for an IPO in Hong Kong, focusing on the smartphone sector, with a projected revenue exceeding 2.7 billion yuan in 2024 [1][4] - Coosea Intelligent was founded in 2006 and has developed over 526 smartphone and PCB component models, with a global sales network covering more than 73 countries [4][11] - The company has shifted its IPO strategy from A-share to Hong Kong after terminating its relationship with Minsheng Securities in January 2025 [1][4] Group 2 - The average selling price of consumer smartphones has decreased from 572 yuan in 2022 to 500 yuan in 2024, while the average price of rugged smartphones has dropped from 1,246 yuan to 1,054 yuan during the same period [11][12] - Coosea Intelligent's revenue from overseas markets accounted for over 60% of total revenue in the reporting period, with sales in the U.S. representing 18.2%, 20.9%, and 24.9% of total revenue from 2022 to 2024 [13] - The company faces challenges in the competitive smartphone market, with net profit growth slowing down significantly despite revenue growth, indicating a need for strategic adjustments to maintain market share [15][20]

Core Viewpoint - KUSAI Intelligent Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor [1] Company Overview - KUSAI Intelligent is a leading global smart technology company that provides comprehensive one-stop solutions encompassing product definition, R&D, supply chain management, manufacturing, and after-sales services [4] - The company has generated revenue from over 70 countries and regions, including Asia, America, Europe, Oceania, and Africa [4] - KUSAI is recognized as a driving force behind local brands and a symbol of China's manufacturing strength, being the second-largest end-to-end solution provider for local smartphone brands by shipment volume in 2024, and expected to rise to the top in Q1 2025 [4] Product and Service Offerings - The company primarily offers smart devices, including consumer smartphones, rugged phones designed for industrial users, and other IoT products [5] - KUSAI has developed over 526 models of smartphones and PCB components, along with more than 46 other smart devices as of December 31, 2024 [5] - The company continuously optimizes its proprietary didoOS to meet the specific customization needs of global local brands and telecom operators [5] Financial Performance - KUSAI's revenue for the years 2022, 2023, and 2024 was approximately RMB 1.713 billion, RMB 2.302 billion, and RMB 2.717 billion, respectively [7] - The company's profits for the same years were approximately RMB 110 million, RMB 203 million, and RMB 207 million [7] - The gross profit for the years 2022, 2023, and 2024 was RMB 328 million, RMB 504 million, and RMB 606 million, respectively [8]

Core Viewpoint - The technology sector is experiencing a surge in demand driven by the North American computing power chain, particularly in the ASIC industry, with expectations for significant growth in AI-related PCB and optical module markets [1][2]. Group 1: Market Trends and Performance - The "three musketeers" of optical modules, namely Zhongji Xuchuang, New Yisheng, and Tianfu Communication, have seen cumulative stock price increases of over 20% since June [2]. - Victory Technology, closely tied to Nvidia, has become the new PCB market leader, with its stock reaching an all-time high, while Huadian shares have increased by 12% this week [2]. - The ASIC and GPU-driven AI PCB market is expected to double this year and grow by 65% next year due to increased investments from major tech companies [2]. Group 2: ASIC Market Developments - Major cloud providers are accelerating their ASIC chip projects to reduce customization costs, with Google, Meta, and Amazon all planning significant launches in 2024 [4][10]. - Broadcom's recent earnings call highlighted a robust demand for AI processing chips, projecting revenues of $5.1 billion from AI-related products, a 60% year-over-year increase [5][6]. - Marvell has raised its market expectations for AI custom chips, projecting a potential market size of $94 billion by 2028, up from $75 billion, with a target market share of 20% [8]. Group 3: Supply Chain and Production Capacity - Meta plans to upgrade its ASIC-based server clusters significantly, aiming to ship between 1 million to 1.5 million chips between 2025 and 2026, which could strain wafer production capacity [12][13]. - The ASIC market's complexity requires higher performance PCB materials, with Meta's designs featuring 36 to 40 layers, indicating a shift towards advanced manufacturing capabilities [24][25]. - Companies like Huadian and Shenghong Technology are positioned to benefit from the increasing demand for high-end PCBs, with margins significantly higher than industry averages due to their focus on advanced technology [26][29]. Group 4: Future Outlook - The ASIC narrative is expected to quadruple the value of the AI PCB industry by 2025-2026, presenting substantial growth opportunities for suppliers [30][31]. - The increasing share of AI-related orders is a major catalyst for valuation improvements in high-end PCB companies [29].