亚世光电（集团）股份有限公司 2025 年半年度报告全文 亚世光电（集团）股份有限公司 亚世光电（集团）股份有限公司 2025 年半年度报告全文 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人贾继涛（JIA JITAO）、主管会计工作负责人贾艳及会计机 构负责人(会计主管人员)袁婧声明：保证本半年度报告中财务报告的真实、 准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 有关公司经营风险及应对措施，请参见本报告第三节"管理层讨论与分析" 之"十、公司面临的风险和应对措施"的相关具体内容陈述。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 亚世光电（集团）股份有限公司 2025 年半年度报 告全文 亚世光电（集团）股份有限公司 2025 年半年度报告全文 （一）载有公司负责人、主管会计工作负责人、会计机构负责人签名并盖章的财务报表； （二）报告期内在中国证监会指定网站上公开披露过的所有公司文件的正本及公告的原稿； （三）载有法定代表人签名的 2025 年半年度报告。 亚世 ...

周末要闻 | 下周策略 | 下周新股 01.周末要闻 贯彻落实民营经济促进法，最高法发布25条指导意见； 证监会将继续严把发行上市入口关，不会出现大规模扩容的情况； 世界黄金协会：6月全球官方黄金储备净增22吨，连续第三个月环比小幅上升； 国家统计局：7月份全国居民消费价格同比持平，环比上涨0.4%； 乘联分会：7月新能源乘用车市场零售98.7万辆，同比增长12%； 我国成功发射吉利星座04组卫星； 支持企业降本增效，河南出台20项政策措施； 北京人形机器人产业规模约占全国1/3； 上海再推重磅生育支持政策，实施女职工产假社保补贴； 首项医疗保障领域国家标准发布； 电影《南京照相馆》票房破21亿； 台积电7月销售额3231.7亿元台币，同比增长25.8%。 02.下周策略 核心问题 短期压力无碍中期格局！ 城投宽庭REITs扩募启动，保租房租金收入三年激增近10倍； 险资今年举牌已达22次，偏好低估值、低波动等资产； 154家A股公司"中考"交卷，超七成实现净利润增长； 加密货币总市值重返4万亿美元上方，以太坊市值突破5000亿美元； 证监会严肃查处贵州辖区深交所主板上市公司*ST高鸿严重财务造假案件； 过去 ...

Group 1 - The stock of Aowei New Materials exhibited a low-open high-rise trend, with a peak increase of over 17%, marking it as the first 10x stock in A-shares for 2025 [1] - Since July, Aowei New Materials has experienced a record of 10 consecutive trading days with limit-up performance, setting a new record for A-share "20cm" consecutive boards [1][3] - The emergence of the "10x stock" is linked to an announcement on July 8, where Aowei New Materials disclosed that Zhiyuan Robotics plans to establish a holding platform to seek control of the company through a combination of agreement transfer and tender offer [3][6] Group 2 - If the transaction is completed, the controlling shareholder will change to Shanghai Zhiyuan Hengyue Technology Partnership (Limited Partnership), with the actual controller being Deng Taihua [6] - Aowei New Materials, listed on the Sci-Tech Innovation Board on September 28, 2020, focuses on the research, production, and sales of new materials, being a major supplier of environmentally friendly corrosion-resistant resins [8] - The company has responded to market concerns regarding its robotics business, stating that its thermosetting resins are primarily used in industrial robots, while humanoid robots mainly use thermoplastic resins, indicating that its products have not yet become a widespread choice [8] Group 3 - As of July 25, 2025, 21 stocks in the A-share market have achieved over 2x growth, entering the "star stock" category [10] - Notable companies include Shutaishen, which has seen a 5x increase due to advancements in innovative drug research and development, and *ST Yushun, which has experienced over a 4x increase due to strategic adjustments and potential asset restructuring [11][12] - United Chemical has also achieved over a 4x increase, benefiting from the overall recovery of the chemical industry and its strong technical research and development capabilities [13]

Group 1 - Northern Long Dragon is planning to acquire the controlling stake of Henan Zhongsheng and raise matching funds, leading to a stock suspension [1] - The company specializes in the research, design, production, and sales of non-metal composite materials for military vehicle equipment [1] - Koyuan Pharmaceutical's major shareholder plans to reduce their stake by up to 3%, amounting to 324.87 million shares [2] Group 2 - Jiaste Technology's shareholder intends to reduce their stake by up to 3%, totaling 1,428.75 million shares [2] - Chengdi Xiangjiang's subsidiary has won a bid for a data center project with China Mobile, valued at 492 million yuan [3] - Zhongchao Holdings' actual controller sold 223 million shares during a period of stock price fluctuation, representing 0.16% of total shares [4] Group 3 - ST Yushun's stock will resume trading after confirming no significant changes in its operational environment [6] - Xing Shuai Er's shareholder plans to reduce their stake by up to 0.37%, equating to 130 million shares [7] - Weiguang Co. intends to reduce its stake by up to 1.32%, totaling 300 million shares [8] Group 4 - Zhongsheng Pharmaceutical's subsidiary has received ethical approval for two Phase III clinical trials for its innovative peptide drug RAY1225 [9][10] - Nongxin Technology's major shareholder plans to reduce their stake by up to 1.35%, amounting to 135 million shares [12] - Mintai Aluminum has signed a strategic cooperation agreement with Penghui Energy for collaboration in battery technology [14] Group 5 - Youyan Powder's controlling shareholder plans to reduce their stake by up to 1%, totaling 103 million shares [16] - Runjian Co. has been shortlisted for a procurement project with China Mobile, valued at 374 million yuan [17] - Bangyan Technology has terminated its plan to issue shares and raise funds for asset acquisition [18] Group 6 - Xianggang Technology's controlling shareholder intends to reduce their stake by up to 3%, equating to 648.42 million shares [19] - Zhongke Shuguang is undergoing a stock suspension due to a planned share swap merger with Haiguang Information [20]

Core Viewpoint - *ST Yushun's stock price has experienced significant volatility, with a notable increase of 204.18% from March 31 to May 20, 2025, leading to a trading suspension for verification of stock price fluctuations [1][2]. Group 1: Stock Performance and Trading Suspension - On May 26, 2025, *ST Yushun's stock reached a limit up at 15.27 CNY per share, with a total market capitalization of 4.279 billion CNY [1]. - The stock price surged from 4.51 CNY to 14.54 CNY between March 31 and May 20, 2025, with 22 limit up days recorded in 25 trading days from April 10 to May 20 [1]. - The company announced a trading suspension starting May 21, 2025, pending the completion of an internal review regarding stock price fluctuations, which was expected to last no more than three trading days [1]. Group 2: Major Asset Restructuring - *ST Yushun is pursuing a significant asset restructuring by planning to acquire 100% equity of three companies involved in data center infrastructure services, which will position it as an AI concept stock [2]. - The acquisition is expected to enhance *ST Yushun's capabilities in the data center sector, as the target companies currently operate approximately 8,000 server cabinets [2]. - The transaction is still in the planning stage, and various factors may affect the terms of the deal as negotiations progress [2]. Group 3: Financial Performance and Risks - In 2024, *ST Yushun reported an operating revenue of 220 million CNY and a net loss attributable to shareholders of 17.575 million CNY, triggering a delisting risk warning from the Shenzhen Stock Exchange [3]. - For Q1 2025, the company recorded an operating revenue of 45.727 million CNY and a net profit of 1.145 million CNY, indicating a slight improvement [4]. - The stock's recent volatility has drawn scrutiny from the Shenzhen Stock Exchange, which has implemented self-regulatory measures in response to abnormal trading behaviors [4].

Core Viewpoint - *ST Yushun's stock price surged over 200% in a month due to acquisition expectations, but the company faces significant financial challenges and has announced a temporary suspension for stock price verification [1][3][5]. Group 1: Stock Performance - From March 31 to May 20, *ST Yushun's stock price increased by 204.18%, with 22 out of 25 trading days resulting in price increases [1][3]. - The stock price rose from 4.51 yuan to 14.54 yuan, marking a total increase of over 200% [1][3]. - The stock's performance outpaced both the ST sector and comparable companies in the manufacturing and electronics industry [3][4]. Group 2: Acquisition Plans - The company announced plans to acquire 100% equity in three companies, which are involved in internet and related services, indicating a strategic shift [4][5]. - A total of 30 million yuan was paid as earnest money for the acquisition, which is still in the planning stage [5]. - The acquisition aims to improve asset quality and profitability, as the company has been struggling with financial losses [5][8]. Group 3: Financial Challenges - As of March 31, the company had a cash balance of 14.5 million yuan and liabilities of 155 million yuan, indicating financial distress [2][8]. - The company has been borrowing from its controlling shareholder, Shanghai Fengwang, to meet operational funding needs [9][10]. - Despite a brief positive net profit in 2023, the company returned to losses, with a net profit loss of 17.57 million yuan in the last reported year [8][11]. Group 4: Audit and Reporting Issues - The company has changed its auditing firm twice in a short period, raising concerns about its financial reporting practices [12][13]. - Prior to the 2024 annual report, the company revised its profit forecast significantly downward, indicating potential issues with revenue recognition [11][12].

Core Viewpoint - *ST Yushun's stock price has surged by 204.18% from March 31, 2025, to May 20, 2025, despite the company's ongoing financial struggles and risk of delisting [1][6]. Group 1: Stock Performance and Trading Suspension - The company announced a trading suspension starting May 21, 2025, due to significant stock price fluctuations and investor concerns, with the suspension expected to last no more than three trading days [1]. - The Shenzhen Stock Exchange has been monitoring *ST Yushun's unusual trading behavior and has warned investors about trading risks [3]. Group 2: Financial Performance - *ST Yushun has faced continuous financial pressure, with annual revenues below 300 million yuan over the past five years and negative net profits [4]. - In the 2024 annual report, the company reported revenues of 220.28 million yuan, a year-on-year increase of 41.94%, but a net loss of 17.58 million yuan [6][7]. Group 3: Acquisition and Restructuring Plans - The recent stock surge is linked to a proposed acquisition involving *ST Yushun and three companies related to a data center project, which is expected to constitute a significant asset restructuring [6][7]. - The acquisition is still in the planning stage, with the framework agreement requiring further negotiations and necessary decision-making processes, indicating uncertainty regarding the finalization of the deal [8]. Group 4: Market Capitalization - As of May 20, 2025, *ST Yushun's stock price was 14.54 yuan per share, with a total market capitalization of 4.075 billion yuan [8].

Core Viewpoint - The top-performing stocks in April include United Chemical and Guofang Group, with significant price increases of 159.09% and 117.10% respectively, amidst a general market decline [1][3]. Stock Performance Summary - **United Chemical**: Achieved a cumulative increase of 159.09% in April, with two trading days recording a 20% limit up. The company reported a revenue of 535 million yuan for 2024, a 24.80% increase year-on-year, and a net profit of 56.43 million yuan, up 66.81% [5]. - **Guofang Group**: Experienced a 117.10% increase, despite multiple risk warnings. The company reported a revenue of 757 million yuan for 2024, a 21.92% decrease, and a net profit of 58.01 million yuan, down 63.23% [6]. - **Hongbaoli**: Recorded a 104.27% increase, with eight trading days hitting the limit up. The company is undergoing technical modifications for its epoxy propylene project, which has not yet generated sales revenue [7]. - **ST Yushun**: Increased by 88.49%, with 16 trading days hitting the limit up. The company announced a significant asset restructuring involving a data center project [8]. - **Zhongqi New Materials**: Achieved an 85.72% increase, with a major share transfer that changed its controlling shareholder [9]. - **Lintai New Materials**: Increased by 84.94%, reporting a revenue of 101 million yuan for Q1 2025, a 107.43% increase, and a net profit of 38.36 million yuan, up 287.62% [10]. - **Wancheng Group**: Increased by 82.79%, reporting a revenue of 10.821 billion yuan for Q1 2025, a 124.02% increase, and a net profit of 215 million yuan, up 3344.13% [11][12]. - **Anji Food**: Increased by 76.69%, with a revenue of 607 million yuan for 2024, a 4.06% decrease, and a net profit of 38.33 million yuan, up 23.29% [13]. - **Leshan Electric Power**: Increased by 71.69%, with multiple risk warnings regarding high stock price increases [14]. - **Redick**: Increased by 70.20%, with ongoing uncertainty regarding its acquisition activities [15].

广东省广州市黄埔区蓝玉四街 9 号科技园 5 号厂房 3 楼 广州视声智能股份有限公司 广州视声智能股份有限公司招股说明书 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因 保荐机构（联席主承销商） （西安市高新区锦业路 1 号都市之门 B 座 5 层） 联席主承销商 1-1-0 证券简称： 视声智能 证券代码： 870976 （中国（上海）自由贸易试验区商城路 618 号） 素，审慎作出投资决定。 1-1-1 声明 发行人及全体董事、监事、高级管理人员承诺招股说明书及其他信息披露资料不存在虚 假记载、误导性陈述或者重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 发行人控股股东、实际控制人承诺招股说明书不存在虚假记载、误导性陈述或者重大遗 漏，并对其真实性、准确性、完整性承担相应的法律责任。 公司负责人和主管会计工作的负责人、会计机构负责人保证招股说明书中财务会计资料 真实、准确、完整。 发行人及 ...

证券简称： 视声智能 证券代码： 870976 广东省广州市黄埔区蓝玉四街 9 号科技园 5 号厂房 3 楼 广州视声智能股份有限公司 广州视声智能股份有限公司招股说明书（申报稿） 效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 保荐机构（主承销商） 西安市高新区锦业路 1 号都市之门 B 座 5 层 1-1-0 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册申 请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利能力、 投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属虚假不实 陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行负 责 ...