正向深交所主板冲刺的电连接产品制造商北京维通利电气股份有限公司(以下简称"维通利")，在近日更 新了招股书并完成首轮问询回复。 近年来，搭乘新能源行业东风，维通利的业绩实现快速增长。然而，亮眼业绩的背后，毛利率波动、应 收账款及存货规模攀升问题随之而来。 不仅如此，长江商报记者还注意到，维通利在公司治理层面的隐患更为突出。本次发行前，黄浩云作为 维通利的控股股东、实控人，合计控制公司68.33%表决权，且与其一致行动人控制公司85.51%表决 权。 在股权高度集中的情况下，维通利长期与关联方保持大规模的关联交易。2022年至2025年上半年，公司 向黄浩云控制的企业累计发生约1.28亿元的采购交易。 此外，在近两年半内，维通利曾七次遭行政处罚，涉及统计、环保、消防、海关及生产安全等多个领 域，其内部控制的健全性与有效性被监管部门重点问询。 总资产过半为应收账款及存货 资料显示，维通利的前身是2003年成立的北京人民电气投资有限公司。2008年12月，黄浩云家族从李永 良家族手中拿下公司控制权。2010年，公司更名为维通利。 2023年9月，维通利实施股份制改制。2025年6月，深交所正式受理了维通利的主板首发 ...

Core Viewpoint - Beijing Vito Electric Co., Ltd. (referred to as "Vito") has disclosed its first-round response to the Shenzhen Stock Exchange's IPO inquiry, indicating its intention to raise approximately 1.594 billion yuan through its IPO process [1] Group 1: Company Overview - Vito's main business includes the research, production, and sales of a series of electrical connection products such as hard connections, flexible connections, contact components, laminated busbars, and CCS, as well as synchronous decomposers [1] Group 2: IPO Details - The IPO application was accepted on June 21, 2025, and entered the inquiry phase on July 4, 2025 [1] - The company is seeking to raise around 1.594 billion yuan through this IPO [1] Group 3: Regulatory Inquiry - The first-round inquiry raised questions regarding Vito's industry and business model, competition with peers, and related party transactions [1]

Core Viewpoint - Beijing Vito Electric Co., Ltd. (referred to as "Vito") has updated its prospectus and responded to the first round of inquiries from the Shenzhen Stock Exchange, addressing 17 key issues related to gross margin, operational compliance, related party transactions, and accounts receivable [1] Group 1: Business Performance - Vito's main business includes the research, production, and sales of various electrical connection products and synchronous decomposers. From 2022 to 2024, the company's operating revenue is projected to increase from 1.437 billion to 2.390 billion yuan, with a compound annual growth rate of 29%. The net profit after deducting non-recurring gains and losses is expected to rise from 114 million to 271 million yuan, a 1.4 times increase over three years [2][3] Group 2: Financial Risks - Despite rapid expansion, Vito faces risks such as declining gross margins, falling product prices, and international trade frictions. The gross margin for the main business is expected to decrease from 25.12% in 2024 to 21.78% in the first half of 2025 due to factors like product structure, material price fluctuations, market competition, and order quantities [3] - The average sales price of synchronous decomposers has dropped from 29.60 yuan per unit in 2022 to 17.93 yuan in the first half of 2025, with corresponding gross margins decreasing from 61.14% to 50.69% [3] - Accounts receivable have been increasing, with net amounts at the end of each reporting period rising from 517 million to 1.042 billion yuan, accounting for 48.96% to 51.21% of current assets. The company has recognized bad debt provisions for certain clients facing operational difficulties [5][6] Group 3: Market Position and Competition - The revenue from the new energy vehicle sector has shown an upward trend, accounting for 26.36% to 38.32% of total revenue from 2022 to 2024. This sector remains a key focus for the company's business development [4] - The exit of national purchase subsidies for new energy vehicles in 2023 and intensified competition among traditional car manufacturers and new entrants may pose challenges for Vito if it cannot adapt quickly to market changes [5] Group 4: Related Party Transactions and Compliance - Vito has engaged in related party transactions with suppliers, with procurement amounts from related parties showing a slight decline over the reporting period. The company asserts that these transactions are based on business needs and are conducted at fair prices [6] - The company has faced six administrative penalties related to statistical errors, construction violations, fire hazards, and environmental violations, indicating a need for improved internal controls [6] Group 5: IPO and Future Plans - Vito plans to raise 1.594 billion yuan through its IPO to fund various projects, including the construction of production bases and a research center. The company acknowledges that the benefits from these investments will take time to materialize and that adverse market conditions could impact profitability [7] - The company has reported fluctuating capacity utilization rates for its products, with some products experiencing significant drops in utilization, indicating potential challenges in managing production capacity [7]

Group 1 - The core viewpoint of the article is that Taili Technology (SZ 301595) held its 14th meeting of the second board of directors on November 14, 2025, to discuss adjustments to the board's specialized committee members [1] - For the first half of 2025, Taili Technology's revenue composition is as follows: vacuum storage bags account for 41.98%, flexible connections for 22.65%, home living for 16.14%, safety protection for 8.19%, and outdoor products for 5.35% [1] - As of the time of reporting, Taili Technology has a market capitalization of 4.3 billion yuan [1]

截至发稿，太力科技市值为42亿元。 每经AI快讯，太力科技（SZ 301595，收盘价：39.25元）发布公告称，2025年11月11日14:00-16:30，太 力科技接受中泰证券调研，公司副总经理、董事会秘书杨亮，财务总监聂琴，证券事务代表韩露露参与 接待，并回答了投资者提出的问题。 每经头条（nbdtoutiao）——谁在替王家卫写《繁花》？揭秘影视剧本层层转包"枪手链" 2025年1至6月份，太力科技的营业收入构成为：真空收纳袋占比41.98%，柔性连接占比22.65%，家居 生活占比16.14%，安全防护占比8.19%，户外用品占比5.35%。 （记者 曾健辉） ...

Core Viewpoint - Tai Li Technology (SZ 301595) announced the convening of its 13th meeting of the second board of directors on October 28, 2025, to review the proposal for the "2025 Q3 Report" [1] Company Summary - For the first half of 2025, Tai Li Technology's revenue composition is as follows: vacuum storage bags account for 41.98%, flexible connections account for 22.65%, home living products account for 16.14%, safety protection products account for 8.19%, and outdoor products account for 5.35% [1]

Group 1 - The core viewpoint of the article highlights that Taili Technology (SZ 301595) has engaged in a research meeting with Huazhang Securities, where the company's board secretary, Nie Qin, addressed investor inquiries [1] - For the first half of 2025, Taili Technology's revenue composition is as follows: vacuum storage bags account for 41.98%, flexible connections for 22.65%, home living for 16.14%, safety protection for 8.19%, and outdoor products for 5.35% [1]

Company Overview - Taili Technology (SZ 301595) announced an investor research meeting on August 29, 2025, attended by Chairman and General Manager Shi Zhengbing [1] - As of the report, Taili Technology has a market capitalization of 4.5 billion yuan [1] Revenue Composition - For the first half of 2025, Taili Technology's revenue composition is as follows: - Vacuum storage bags: 41.98% - Flexible connections: 22.65% - Home living products: 16.14% - Safety protection: 8.19% - Outdoor products: 5.35% [1]

Core Viewpoint - Beijing Weitongli Electric Co., Ltd. (referred to as Weitongli) has applied for a change in its listing review status to "inquired" on the Shenzhen Stock Exchange, with a fundraising target of 1.59374 billion yuan [1] Group 1: Business Overview - The company specializes in the research, production, and sales of a series of electrical connection products, including hard connections, flexible connections, contact components, laminated busbars, and CCS, as well as synchronous decomposers [1] - Weitongli aims to provide high-performance electrical connection products and customized solutions to meet the individual needs of global customers, enhancing safety, reliability, sustainability, and intelligence in electrical connections [1] - The company has expanded its application areas from traditional sectors like electric power and rail transportation to emerging industries such as new energy vehicles and wind-solar-storage [1] Group 2: Clientele and Market Position - Weitongli serves high-end clients in the electrical connection product sector, with products recognized by major players in various fields, including Siemens, Schneider, ABB, Hitachi Energy, and GE in the electric power sector [2] - In the new energy vehicle sector, clients include BYD, Stellantis, and others, while in the wind-solar-storage sector, clients include Goldwind Technology and Sungrow Power [2] - The company has received numerous awards and recognitions from its clients, indicating a strong market position and reputation [2] Group 3: Financial Performance - For the fiscal years 2022, 2023, and 2024, the company reported revenues of approximately 1.437 billion yuan, 1.699 billion yuan, and 2.390 billion yuan, respectively, with net profits of approximately 115 million yuan, 186 million yuan, and 271 million yuan [3] - Total assets as of December 31, 2024, are projected to be approximately 2.357 billion yuan, with equity attributable to shareholders of approximately 1.517 billion yuan [4] - The company's asset-liability ratio is expected to rise from 22.90% in 2022 to 40.90% in 2024, indicating a significant increase in leverage [4]