Group 1: New Listings - Jiangsu Xihua New Energy Technology Co., Ltd. listed on the Shanghai Stock Exchange main board on December 23, raising 1.01 billion yuan, with a first-day stock price increase of 264.46% and a market cap of approximately 11.4 billion yuan as of December 29 [3][5] - Ningbo Jianxin Superconducting Technology Co., Ltd. listed on the Shanghai Stock Exchange Sci-Tech Innovation Board on December 24, raising 779 million yuan, with a first-day stock price increase of 212.81% and a market cap of approximately 7.9 billion yuan as of December 29 [3][5] - Shenzhen Tian Su Measurement and Testing Co., Ltd. listed on the Shenzhen Stock Exchange ChiNext on December 23, raising 600 million yuan, with a first-day stock price increase of 174.48% and a market cap of approximately 6.8 billion yuan as of December 29 [4][5] - Nabai Chuan New Energy Co., Ltd. also listed on the Shenzhen Stock Exchange ChiNext on December 23, raising 632 million yuan, with a first-day stock price increase of 408.17% and a market cap of approximately 10.1 billion yuan as of December 29 [4][5] Group 2: Companies Passing Review - Shijiazhuang Vision Technology Co., Ltd. passed the review for listing on the Shanghai Stock Exchange Sci-Tech Innovation Board on December 24, focusing on micro-display solutions [6][8] - Luoyang Shenglong Mining Group Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange main board on December 23, engaged in non-ferrous metal mining [9][10] - Hangzhou Fuen Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange main board on December 26, specializing in eco-friendly fabric [9][10] - Shenzhen Dapu Microelectronics Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange ChiNext on December 25, focusing on enterprise-level SSD products [9][10] - Nanchang Sanrui Intelligent Technology Co., Ltd. passed the review for listing on the Shenzhen Stock Exchange ChiNext on December 26, specializing in drone and robot power systems [9][10] Group 3: Companies Submitting IPO Applications - Tianjin Fujida Bicycle Industrial Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange main board on December 24, planning to raise 773 million yuan [12][14] - Shenyang Compressor Group Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange main board on December 25, planning to raise 2.134 billion yuan [12][19] - Shenzhen Hanno Medical Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 23, planning to raise 1.062 billion yuan [12][23] - Dandong Oriental Measurement and Control Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 25, planning to raise 1.1 billion yuan [12][25] - Suzhou Tongxin Medical Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 26, planning to raise 1.064 billion yuan [12][27] - Shenzhen Deep Blue Ocean Technology Co., Ltd. submitted an IPO application to the Shanghai Stock Exchange Sci-Tech Innovation Board on December 26, planning to raise 1.5 billion yuan [12][29] Group 4: Financial Data Highlights - Fujida projected revenues of 4.371 billion yuan, 3.621 billion yuan, and 4.880 billion yuan from 2022 to 2024, with net profits of 348 million yuan, 285 million yuan, and 408 million yuan respectively [17][18] - Shenyang Compressor Group projected revenues of 7.396 billion yuan, 8.206 billion yuan, and 9.309 billion yuan from 2022 to 2024, with net profits of 181 million yuan, 355 million yuan, and 442 million yuan respectively [20][21] - Hanno Medical projected revenues of 0, 298 million yuan, and 493 million yuan from 2022 to 2024, with net losses of 647 million yuan, 3.41 billion yuan, and 1.83 billion yuan respectively [24] - Oriental Measurement and Control projected revenues of 603 million yuan, 521 million yuan, and 567 million yuan from 2022 to 2024, with net profits of 92.5 million yuan, 74.8 million yuan, and 73.1 million yuan respectively [26] - Tongxin Medical projected revenues of 8.611 million yuan, 50.453 million yuan, and 77.351 million yuan from 2022 to 2024, with net losses of 1.89 billion yuan, 3.06 billion yuan, and 3.72 billion yuan respectively [28]

智通财经APP获悉，深圳尼索科连接技术股份有限公司(尼索科)、东莞优邦材料科技股份有限公司(优邦科技)、广东恒翼能科技股份有限公司(恒翼能)、江苏 佳饰家新材料集团股份有限公司(佳饰家集团)深交所IPO已受理。 恒翼能是一家专注于新能源锂电池智能制造装备的国家级高新技术企业和国家级专精特新重点"小巨人"企业，主营业务为锂电池后处理系统核心设备及整体 解决方案的研发、生产和销售。公司深耕锂电池化成、分容、测试等后处理核心工序，产品覆盖方形、软包、圆柱等主流电池形态，广泛应用于动力电池、 储能电池及3C电池等领域，是行业内少数能够提供后处理系统一站式解决方案的核心供应商。 佳饰家集团主要专注于纸基新材料——浸渍纸及相关产品的研发、生产和销售。公司以氨基树脂等高分子改性树脂溶液对印刷装饰纸进行改性处理，为客户 提供耐磨损、耐污渍、耐冲击、耐老化、耐高温、耐灼烧、耐潮湿、易清洁并兼具设计之美的浸渍纸相关产品。下游终端应用领域除传统的建筑物装饰装修 和家居产品制造外，还不断扩展到医院、实验室等特殊需求场景，以及机场、商场、学校、酒店、办公楼等公共建筑领域。此外，发行人也在积极拓展汽 车、高铁、轮船等交通工具用内饰材料、 ...

据悉，佳饰家集团主要专注于纸基新材料——浸渍纸及相关产品的研发、生产和销售。本次冲击上市， 佳饰家集团拟募集资金约7.71亿元，扣除发行费用后，将按照重要性和紧迫性安排投资于智能绿色工厂 建设项目、研发中心及信息化建设项目、补充流动资金。 北京商报讯（记者 马换换 李佳雪）12月28日，深交所官网显示，江苏佳饰家新材料集团股份有限公司 （以下简称"佳饰家集团"）主板IPO获得受理。 ...

根据深交所发行上市审核信息，江苏佳饰家新材料集团股份有限公司（佳饰家）深市主板IPO已获受 理。 公司主要专注于纸基新材料——浸渍纸及相关产品的研发、生产和销售。 财务数据显示，2022年—2024年公司实现营业收入分别为14.24亿元、15.90亿元、16.00亿元，实现净利 润分别为1.40亿元、1.47亿元、1.35亿元。（数据宝） 公司主要财务指标 （文章来源：证券时报网） | 财务指标/时间 | 2024年 | 2023年 | 2022年 | | --- | --- | --- | --- | | 营业收入（万元） | 160047.77 | 159002.72 | 142374.48 | | 归属母公司股东的净利润（万元） | 13454.77 | 14712.14 | 14032.45 | | 扣除非经常损益后归属母公司所有者净利润（万元） | 13461.39 | 14116.90 | 13817.30 | | 基本每股收益（元） | 1.0000 | 1.1000 | 1.0500 | | 稀释每股收益（元） | 1.0000 | 1.1000 | 1.0500 | | 加权平均净资产收益率 ...

公开信息显示，入股前后，兔宝宝始终为佳饰家的核心客户，双方保持着稳定的采购合作，形成"资本 绑定+业务交织"的双重关系。事实上，目前市场竞争激烈，供应链管理对企业发展至关重要。此前， 兔宝宝参股的五金供应商悍高集团已成功登陆A股，其与兔宝宝的关联交易在IPO审核中顺利过关。 对于参股企业冲刺IPO，兔宝宝相关人士回应称，公司在悍高集团的持股比例为1.85%，在佳饰家的持 股比例为4.84%，均不超过5%。根据相关规定，两家上市公司不属于公司关联方，与其发生的交易不属 于关联交易。 聚焦合规本质 佳饰家顺利结束上市辅导，意味着其即将进入递交招股说明书和接受交易所问询的关键阶段。而佳饰家 参股企业兔宝宝扮演的"股东+核心客户"的双重角色，也成为审核中无法回避的核心问题。根据上海证 券交易所的监管规则，关联交易审议必须遵循"定价公允、审议程序合规、信息披露规范"的原则。监管 机构明确要求，不得通过将关联交易非关联化来规避审议和信息披露义务。虽然兔宝宝持股比例未达 5%的典型关联方认定标准，但审核中通常会遵循"实质重于形式"原则。这意味着，只要可能导致利益 倾斜的关系，都可能被认定为需要严格核查的关联方。 德华兔宝宝 ...

Core Viewpoint - The company Tubaobao's investment in the surface materials company Jiashijia has completed its IPO guidance and is preparing to enter the A-share market, raising market attention due to its dual role as a shareholder and core customer [1][3]. Group 1: Investment and Shareholding - Tubaobao invested 63.7 million yuan to acquire a 4.84% stake in Jiashijia in 2021, establishing a significant strategic partnership while maintaining a core raw material procurement relationship [3][4]. - Jiashijia's main products include decorative printing paper and impregnated paper, which are essential for Tubaobao's operations in the home building materials sector [3][4]. Group 2: Regulatory and Compliance Issues - The dual relationship of Tubaobao as both a shareholder and a core customer has triggered regulatory scrutiny regarding related party transactions during Jiashijia's IPO process [1][5]. - Regulatory rules require that related party transactions must adhere to principles of fair pricing, compliance in the review process, and proper information disclosure [5][6]. Group 3: Financial Implications - Tubaobao's revenue for the first three quarters was 6.319 billion yuan, a year-on-year decrease of 2.25%, while net profit increased by 30.44% to 629 million yuan, largely due to the fair value changes from its investment in the listed company Hanhigh Group [8]. - The successful IPO of Jiashijia is expected to provide Tubaobao with significant financial returns and improve the liquidity of its investment assets [8]. Group 4: Strategic Importance - Tubaobao's investment strategy focuses on binding with upstream suppliers to enhance supply chain collaboration, which is crucial in a competitive market environment [7]. - The listing of Jiashijia is anticipated to strengthen the business synergy between the two companies, enhancing Tubaobao's access to high-quality raw materials and fostering innovation in product development [8].

Core Viewpoint - The stock price of Jolly Culture has shown a significant increase this year, with a notable rise in recent trading days, indicating positive market sentiment towards the company [2]. Group 1: Stock Performance - As of November 13, Jolly Culture's stock price rose by 2.22% to 3.23 CNY per share, with a trading volume of 54.98 million CNY and a turnover rate of 2.69%, resulting in a total market capitalization of 2.748 billion CNY [1]. - Year-to-date, Jolly Culture's stock price has increased by 26.67%, with a 3.19% rise over the last five trading days, 17.45% over the last 20 days, and 14.95% over the last 60 days [2]. Group 2: Company Overview - Jolly Culture, established on January 18, 2000, and listed on June 12, 2008, is located in Hangzhou, Zhejiang Province, and specializes in the research, design, production, and sales of mid-to-high-end architectural decorative materials [2]. - The company's revenue composition includes decorative paper (41.13%), impregnated paper (21.17%), PVC decorative materials (19.55%), decorative paper veneer panels (16.22%), and other (1.92%) [2]. - Jolly Culture is classified under the building materials industry, specifically in the renovation materials sector, and is associated with concepts such as micro-cap stocks, low-priced stocks, small-cap stocks, QFII holdings, and the Yangtze River Delta integration [2]. Group 3: Financial Performance - For the period from January to September 2025, Jolly Culture reported a revenue of 588 million CNY, representing a year-on-year decrease of 6.45%, while the net profit attributable to shareholders decreased by 80.88% to 42.17 million CNY [2]. - Since its A-share listing, Jolly Culture has distributed a total of 310 million CNY in dividends, with no dividends paid in the last three years [3].

Core Viewpoint - The stock of Zhejiang Jule Culture Development Co., Ltd. has seen a 5.37% increase, reaching 3.14 CNY per share, with a total market capitalization of 2.672 billion CNY as of November 3 [1] Company Overview - Zhejiang Jule Culture Development Co., Ltd. was established on January 18, 2000, and listed on June 12, 2008 [1] - The company specializes in the research, design, production, and sales of mid-to-high-end architectural decorative facing materials [1] - The revenue composition of the company includes: decorative paper (41.13%), impregnated paper (21.17%), PVC decorative materials (19.55%), decorative paper panels (16.22%), and other (1.92%) [1] Fund Holdings - Industrial Bank of China Credit Fund has a significant holding in Jule Culture, with the fund "ICBC Joy Mixed A" (011729) owning 287,900 shares, representing 0.18% of the fund's net value, making it the fifth-largest holding [2] - The fund has achieved a year-to-date return of 29.91%, ranking 3061 out of 8223 in its category [2] Fund Manager Performance - The fund manager, Jiao Wenlong, has a tenure of 10 years and 173 days, with a total fund asset size of 8.548 billion CNY, achieving a best return of 60.43% during his tenure [3] - Co-manager He Shun has been in position for 2 years and 16 days, managing assets of 8.558 billion CNY, with a best return of 62.02% [3]

Core Insights - The 10th World Wood-based Panel Conference was held in Linyi, focusing on the theme "Full Chain Resonance, Quality Improvement and Renewal" to discuss high-quality development paths for the wood-based panel industry [1] - Linyi aims to become China's largest formaldehyde-free board production base and the largest integrated home furnishing production base in Northern China, transitioning from "City of Panels" to "City of Wood" [1] Industry Overview - Linyi has over 30 years of development in the high-end panel and green smart home industry, with more than 10,000 enterprises and a workforce of one million [2] - In the previous year, the output value of large-scale enterprises reached 135.1 billion, with the total industry chain value exceeding 300 billion, making it the largest and most iconic industry chain in Linyi [2] - Linyi's complete industry chain includes upstream raw materials, midstream plywood, particleboard, fiberboard, and downstream furniture, custom home furnishings, and smart home products, with significant market shares in various segments [2] Market Dynamics - As of the end of 2024, there are over 8,600 wood-based panel production enterprises in China, a decrease of 14.9% from the previous year, while production capacity has increased by 8.41% to 362 million cubic meters per year [3] - The overall wood-based panel production in China is expected to grow by 3.9% year-on-year in 2024, with consumption increasing by 3.5% [3] - International trade shows positive trends, with export volume increasing by 23.3% and export value rising by 9.7% year-on-year [3]