Core Insights - Changjiang Energy Technology (BJ:920158) was listed on the Beijing Stock Exchange, opening with a 290% increase, resulting in a total market capitalization of 2.87 billion CNY [1] - The company specializes in the design, research and development, manufacturing, and service of specialized equipment for the energy and chemical industries, including electro-dehydration equipment, separation equipment, heat exchange equipment, storage equipment, carbon capture equipment, and hydrogen energy equipment [1][2] Company Overview - Changjiang Energy Technology is recognized as a national-level "specialized, refined, distinctive, and innovative" small giant enterprise, focusing on energy chemical specialized equipment [1] - The company's core product, electro-dehydration equipment, is critical for the oil extraction and refining processes, influencing both the quality of crude oil and the efficiency of refining operations [2] - The company has maintained the highest market share in the electro-dehydration equipment sector in China from 2021 to 2023 [2] Financial Performance - For the years 2022 to 2024, the company's revenue figures were 219.07 million CNY, 347.96 million CNY, and 313.98 million CNY, respectively, with net profits of 40.68 million CNY, 40.85 million CNY, and 49.16 million CNY [4] - The gross profit margins for the same years were 54.81%, 47.18%, and 41.93%, indicating a downward trend in profitability [4] - The company expects steady growth in revenue and net profit for the first nine months of 2025, projecting revenue growth of 0.78% to 15.90% and net profit growth of 3.62% to 13.04% compared to the previous year [5] Client Base and Market Position - The company has established itself as a qualified supplier for major state-owned enterprises such as Sinopec, PetroChina, and CNOOC, and has long-term stable partnerships with other notable companies [2] - The concentration of clients is high, with the top five clients accounting for 86.93%, 63.42%, and 85.62% of total revenue in the respective years, reflecting the capital-intensive nature of the energy and chemical sectors [6] Ownership and Management - Prior to its listing, the controlling shareholder of Changjiang Energy Technology was Samsung Technology, with the actual controllers being Liu Jianchun and Liu Jiacheng, who collectively hold 88.03% of the shares [8] - Liu Jianchun has extensive experience in the chemical industry, having held various managerial positions since the 1980s, while Liu Jiacheng has a background in IT and sales management [8][9]

Core Viewpoint - Changjiang Energy Technology Co., Ltd. (Changjiang Nengke) successfully listed on the Beijing Stock Exchange, with its stock price soaring by 294% from the issuance price on the opening day [2][6]. Company Overview - Changjiang Nengke is a national-level specialized and innovative "little giant" enterprise focusing on the design, research and development, manufacturing, and service of energy chemical specialized equipment [5][6]. - The company has over 20 years of experience in the energy equipment sector, particularly in electric desulfurization technology, and has maintained the highest domestic market share for three consecutive years [4][5]. Financial Performance - The stock was issued at 5.33 yuan per share and opened at 21 yuan, reaching a peak of 21.96 yuan, with a midday price of 19.94 yuan, reflecting a 274.11% increase [2][3]. - The total market value of the company reached 27.53 billion yuan, with a circulating market value of 7.605 billion yuan [3]. Future Plans - The company aims to raise 160 million yuan through its listing to invest in projects including the production of heavy special materials and marine oil and gas engineering equipment, as well as the establishment of research and development centers [6][9]. - The R&D centers will focus on technological iterations of core products and cutting-edge technologies in marine and hydrogen energy equipment [6]. Industry Context - The successful listing of Changjiang Nengke reflects the support from the local government and the Beijing Stock Exchange for specialized and innovative enterprises [7][9]. - Jiangsu Province, particularly Zhenjiang, is actively promoting the listing of specialized and innovative companies, with a total of 26 companies listed on the Beijing Stock Exchange as of now [7][10].

Core Viewpoint - Changjiang Energy Technology Co., Ltd. (长江能科) has been listed on the Beijing Stock Exchange, focusing on specialized equipment for the energy and chemical industries [1] Company Overview - Changjiang Energy Technology specializes in the design, research and development, manufacturing, and service of energy and chemical specialized equipment, including electric desulfurization equipment, separation equipment, heat exchange equipment, storage equipment, carbon capture equipment, and hydrogen energy equipment [2] - The company's products are widely used in oil and gas engineering, refining and chemical industries, marine engineering, and clean energy sectors [2] Shareholding Structure - Before the issuance, Jiangsu Samsung Technology Co., Ltd. held 36,897,704 shares, accounting for 34.14% of the total share capital, making it the controlling shareholder [2] - The actual controllers of the company are Liu Jianchun and Liu Jiacheng, who are father and son [2] - Liu Jiacheng directly holds 36,825,501 shares, controlling 26.67% of the voting rights, while the combined control through Samsung Technology gives them 26.72% of the voting rights [2] - They also control additional voting rights through other partnerships, including 15.05% through Zhenjiang Xingfeng and 0.46% through Changjiang No. 1 [2] Fundraising and Projects - The total amount of funds raised before the exercise of the overallotment option is 159.90 million yuan, which will be used for the annual production of 1,500 tons of heavy special materials equipment and 4,500 tons of marine and land oil and gas engineering equipment, as well as the construction of a research and development center [3]

Group 1: Xi'an Yichuang (科创板, 688) - The company is set to issue shares at a price of 8.62 yuan, with a total market capitalization of 30.17 billion yuan [2] - The main revenue sources include testing wafers (43.68%), semiconductor silicon polishing wafers (39.16%), and semiconductor silicon epitaxial wafers (16.66%) [2] - The company has become the largest producer and seller in mainland China, with a strong demand forecast for chips driven by emerging applications like artificial intelligence [2][3] Group 2: Heyuan Biological (科创板, 688) - The company plans to issue shares at a price of 29.06 yuan, with a total market capitalization of 7.789 billion yuan [5] - It utilizes a rice endosperm cell bioreactor technology platform (OryzPur) to develop a comprehensive range of pharmaceuticals [5] - The company is a pioneer in using rice endosperm cell bioreactors for producing human serum albumin, which has significant clinical demand and market potential in China [6] Group 3: Changjiang Energy Technology (北交所, 920) - The company will issue shares at a price of 5.33 yuan, with an issuance price-to-earnings ratio of 14.99 [8] - It focuses on the design of energy and chemical specialized equipment, including heat exchange equipment, storage equipment, carbon capture equipment, and hydrogen energy equipment [8] - The company's core product, electro-dehydration equipment, is critical for oil extraction, ensuring that crude oil meets export standards [8]

刘建春 ◎记者 仲茜 10月16日，长江三星能源科技股份有限公司（以下简称"长江能科"）正式登陆北交所。这家国家级专精 特新"小巨人"企业，以能源装备领域的电脱设备技术领跑全球，市场占有率连续三年国内第一。近年 来，公司以"科技引领，装备强国"为使命，以硬核实力护航国家能源安全，主营产品远销20个国家和地 区，助力共建"一带一路"国家能源建设。 近日，长江能科董事长刘建春在接受上海证券报记者专访时表示，在经历了技术突围、国产替代20年攻 坚战后，公司正式迈入资本市场，迎来发展新起点、新高度。未来公司将借助资本市场赋能，进一步提 高硬科技含量、提升综合竞争实力，为企业高质量发展和全球化布局注入资本活水和强劲动力。 技术突破：20多年完成"三步跨越" 位于江苏镇江的长江能科，是一家专注于能源化工专用设备的设计、研发、制造和服务的国家级专精特 新"小巨人"企业。公司主要产品包括电脱设备、分离设备、换热设备、存储设备、固碳设备、氢能设备 等能源化工专用设备以及助剂和技术服务，广泛应用于油气工程、炼油化工、海洋工程、清洁能源等领 域。 是什么样的契机，让公司切入这个细分赛道？刘建春脱口而出四个字：替代进口。原来，早在2 ...

行业方面，公司属于能源化工装备行业。随着我国经济的稳定发展和能源需求的不断增长，油气等能源 装备行业在国内市场的需求持续上升。弗若斯特沙利文数据显示，我国石油炼制及石化设备的市场规模 由2018年的4849亿元人民币增长至2023年的7151亿元人民币，年复合增长率约为8.08%。随着中国石油 炼制能力加强及石化行业的快速发展，预计未来行业规模将以6.49%的增速实现增长，2028年我国石油 炼制及石化设备的市场规模将达到9792亿元。 业绩方面，公司2022~2024年分别实现营业收入2.19亿元、3.48亿元、3.14亿元，同比增速依次为 14.61%、58.83%、-9.77%；实现归母净利润0.41亿元、0.41亿元、0.49亿元，同比增速依次为83.76%、 0.42%、20.34%。根据最新财务情况，公司2025年上半年实现营业收入1.26亿元，较上年同期减少 6.23%；实现归母净利润0.18亿元，较上年同期增长4.02%。 要问近期A股哪个板块的新股表现最亮眼，那就非北交所莫属了。下半年以来，上市首日涨幅前五的新 股中，有3只是北交所新股，其中9月8日上市的三协电机上市首日涨幅785.62%， ...

每经记者｜闫峰峰 每经编辑｜吴永久 公司创始人为刘建春，其深耕能源装备领域近四十年：1972年从电机厂工人起步，历任无线电厂车间主 任、工业局科员、有机化工厂厂长等职。2003年，47岁的刘建春以1000万元启动资金创办长江能科前 身"长江有限"，凭借多年行业资源积累，首年即拿下中石化小额订单，营收突破800万元，奠定"技术攻 坚+大客户绑定"的发展基调。 公司在电脱设备领域形成了竞争优势。2021年起公司在电脱设备市场的占有率稳居国内第一，2024年约 为48.52%。与此同时，公司持续丰富产品结构，逐步由期初的电脱设备延伸至换热设备、分离设备、 存储设备以及LNG设备、氢能设备等能源化工装备，产品应用场景进一步拓展至海洋工程、清洁能源 等领域。 公司拥有丰富的优质客户资源，是中国石化、中国石油、中国海油的合格供应商，并与裕龙石化、东方 盛虹、荣盛石化、京博控股集团等知名公司建立了长期稳定的合作关系。 公司产品远销二十余个国家和地区，并持续丰富海外客户资源，陆续获得了阿联酋阿布扎比国家石油公 司、科威特原油公司、卡塔尔能源公司、巴西国家石油公司、墨西哥国家石油公司、意大利油服集团塞 班公司和英国派特法石油工 ...

证券日报网讯立昂技术（300603）10月13日在互动平台回答投资者提问时表示，公司依托"算力+算法 +应用"生态体系及简阳等新建算力基地的高性能集群，可以为AI大模型训练、推理等场景提供算力支 持，并供应服务器、存储设备等硬件设施；同时，公司技术运维服务，涵盖数据中心实时流量监控、跨 区域算力调度，以及GPU服务器的安装、调试、故障排除等专项运维，保障其业务稳定运行。公司主要 客户分布在政府、央企、市政交通单位、科研院所及互联网、科技、金融、人工智能等行业的企业。涉 及客户合作的具体情况，公司承担保密义务。公司会严格按照相关法律法规及时履行信息披露义务。 ...

国际摩擦再起，如何看待国产替代的投资机会 20251012 摘要 中国在贸易摩擦中采取更主动姿态，通过先出牌后退让的策略，旨在促 成双方都能接受的结果，增强国际谈判话语权，并为国内市场带来稳定 因素，投资者应关注其中蕴含的投资机会。 科技板块分化明显，消费类科技受情绪冲击可能回调，但回调即是介入 机会，如立讯精密案例；国产替代是长期机遇，尤其在半导体先进制程 和封装技术等领域，国产替代率提升迅速。 半导体产业链国产替代取得显著进展，部分设备品类国产替代率已超 50%，但光刻机等高端设备仍有差距。长存和长鑫的存储器扩产项目顺 利推进，预计将持续至明年上半年。 当前形势下，可逢低布局受情绪冲击的消费类科技和具有长期发展潜力 的国产替代领域，如半导体、信创等。中美科技博弈长期存在，这些领 域具备长期投资价值。 中美博弈促使订单回流国内晶圆厂，稼动率全球领先。成熟制程扩产问 题得到解决，28 纳米到 14 纳米扩产比例逐步提升，中芯国际和华为等 企业产能储备不断增加。 Q&A 当前中美贸易摩擦对市场的影响如何？与 4 月份相比有哪些不同？ 当前中美贸易摩擦对市场确实带来了一定的担忧，导致包括美股和 A 股在内的 多个 ...

Group 1 - The core viewpoint of the articles emphasizes the need for a paradigm shift in storage solutions to address the energy consumption challenges posed by the explosive growth of AI computing power [1][2] - The traditional "one-size-fits-all" storage architecture is identified as a key bottleneck for AI development, prompting the proposal of a new paradigm centered around "scene-defined storage" [1] - The CEO of Zhiyu Technology highlighted that as computing power rapidly increases, inefficient data infrastructure leads to significant power and computing waste, positioning storage as the "axis" of AI development [1] Group 2 - Industry experts discussed the necessity for storage solutions in autonomous driving to balance performance, cost, size, and reliability under safety constraints [2] - The focus of supercomputing and intelligent computing centers has shifted from peak traffic to long-term system stability, suggesting a transition from standardized to scene-customized storage systems [2] - The demand for storage devices in industrial control requires a lifespan of 5 to 15 years, necessitating collaboration between suppliers and chip manufacturers from the design phase [2]