又见"肉签"！ A股市场今天（9月30日）上午整体上行，科创50指数走势强劲，盘中再创年内新高。 此外，今日A股、港股市场均有新股上市，首日表现均较亮眼。其中，A股市场今天有两只新股上市，新股云汉芯城（301563）（301563）盘中涨幅一度 超过400%，若按照盘中最高价计算，中一签新股最多可赚约5.75万元，这一单签盈利居于年内A股市场前列。港股市场今日有3只新股上市，其中西普尼 盘中一度涨近340%。 科创50指数走强 再创年内新高 A股市场今天上午整体上行，主要指数不同程度上涨，其中科创50指数走势强劲，盘中涨幅一度超过2%，再创年内新高。 主要行业和赛道板块中，若按照申万一级行业划分，有色金属板块大涨，板块盘中涨幅超过2%。铂科新材（300811）盘中涨幅一度超过18%，博迁新材 （605376）、精艺股份（002295）、锡业股份（000960）等涨停，中金黄金（600489）、湖南黄金（002155）等也不同程度上涨。 消息面上，金价和银价继续上涨。国内黄金期货主力合约盘中再创历史新高，已经突破870元/克。 国防军工、电力设备、房地产、计算机等板块涨幅居前；通信、综合、非银金融等板块上午盘中 ...

Group 1: Company Overview - Rui Li Ke Mi is a national high-tech enterprise specializing in the research, production, and sales of core components related to active safety systems for motor vehicles [1][3] - The company has developed capabilities in various active safety systems including ABS, ESC, EBS, EPB, and ECAS, and its products are widely used in commercial vehicles, passenger cars, and motorcycles [1][3] Group 2: Financial Performance - For the years 2022 to 2024, Rui Li Ke Mi is projected to achieve operating revenues of 1.33 billion, 1.76 billion, and 1.98 billion CNY, respectively, with net profits of 97 million, 236 million, and 269 million CNY [4] - The company has experienced significant fluctuations in its financial performance, with a notable reliance on raw materials such as chips and aluminum ingots, which account for over 35% of its procurement [4] Group 3: Market Position - Rui Li Ke Mi has maintained a leading position in the commercial vehicle pneumatic electronic braking system sector, ranking first in production and sales of ABS products for ten consecutive years from 2014 to 2023 [3] - The company's brand "Kormee" has become a top-tier brand in the industry, and it has established partnerships with major domestic vehicle manufacturers and exports to Europe and the United States [3] Group 4: Investment and Future Plans - The company plans to invest 8.81 billion CNY in the development of an intelligent electronic control system headquarters in the Greater Bay Area and 3.08 billion CNY in a research and development center [2][3] Group 5: Company Overview (Yunhan Xincheng) - Yunhan Xincheng is an innovative high-tech enterprise that integrates electronic component distribution with industrial internet, focusing on the R&D, production, and procurement needs of small-batch electronic components [4][10] - The company is recognized as a leading B2B enterprise in the electronic components sector in China [4][10] Group 6: Financial Performance (Yunhan Xincheng) - Yunhan Xincheng's projected operating revenues for 2022 to 2024 are 4.33 billion, 2.64 billion, and 2.58 billion CNY, with net profits of 136 million, 79 million, and 88 million CNY, respectively [10][11] Group 7: Investment and Future Plans (Yunhan Xincheng) - The company intends to allocate funds towards upgrading its big data center and component trading platform, building an electronic industry collaborative manufacturing service platform, and establishing intelligent shared warehousing [7][10]

智通财经APP获悉，9月19日，瑞立科密(001285.SZ)开启申购，发行价格为42.28元/股，申购上限为1.60 万股，市盈率29.64倍，属于深交所，中信证券为其保荐人。 招股书显示，瑞立科密是专业从事机动车主动安全系统相关核心部件研发、生产和销售的国家高新技术 企业，主营业务为机动车主动安全系统和铝合金精密压铸件的研发、生产和销售以及技术服务。经过长 期不懈的自主创新，瑞立科密不断突破技术壁垒和市场瓶颈，以高性价比的产品和服务为整车厂商提供 一揽子主动安全系统解决方案，已成长为国内商用车主动安全系统龙头企业。 最近三年，我国商用车销量分别为 330.05 万辆、403.10 万辆和 387.30 万辆，不考虑出口因素，瑞立科 密商用车 ABS、ESC、EBS 产品合计境内销售分别约 79.21 万套、95.60 万套和 108.13 万套，假设一辆 商用车配置一套行车制动系统，公司 ABS、ESC、 EBS 产品在商用车领域的市场份额分别为 24.00%、 23.72%和 27.92%，稳居行业领先地位。 本次发行的募集资金扣除发行费用后，将投资于以下项目： | 序号 | 项目名称 | 项目总投资 ...

9月30日，有两只新股上市，分别是深市主板上市的瑞立科密（001285.SZ），以及创业板上市的云汉芯 城（301563.SZ）。 瑞立科密是专业从事机动车主动安全系统相关核心部件研发、生产和销售的国家高新技术企业。公司作 为国内少数具备汽车制动防抱死系统（ABS）、电子稳定控制系统（ESC）、电子制动控制系统 （EBS）、电子驻车制动系统（EPB）、电控空气悬架系统（ECAS）等主动安全系统正向开发能力的 企业，核心产品已涵盖气压制动/液压制动、电控制动/线控制动等主流技术路线，广泛应用于商用车、 乘用车及摩托车的制动安全等领域。 | 打新早知道 | | | 南财快讯 | | --- | --- | --- | --- | | 今日上市 | | | | | 001285.SZ 瑞立科密 | | | | | 发行价(元/股) | 机构报价(元/股) | 市值(亿元) | 所属行业 | | 42.28 | 42.93 | 76.18 | 其他计算机制造 | | 发行市盈率 | 行业市盈率 | 可比公司 | 可比公司动态市盈率 | | 29.64 | 54.54 | 万安科技 | 38.52 | | | | 锡南 ...

目前，瑞立科密主营产品已覆盖一汽解放、中国重汽、东风集团、北汽福田、上汽红岩、陕汽集团、金 龙客车、中通客车、中集车辆、奇瑞、吉利、春风动力、钱江摩托等一众国内主流龙头整车企业，并出 口欧美等国家和地区，直接参与国际市场竞争。 根据中国汽车工业协会统计， 2014 年至 2023 年，瑞立科密气压电控制动产品包含的制动防抱死装置 （ABS）产量和销量连续 10 年排名行业第一位；根据中国汽车工业协会出具的证明，2021 年至 2023 年，公司气压电控制动系统产品市场占有率均排名行业第一位。 最近三年，我国商用车销量分别为 330.05 万辆、403.10 万辆和 387.30 万辆，不考虑出口因素，瑞立科 密商用车 ABS、ESC、EBS 产品合计境内销售分别约 79.21 万套、95.60 万套和 108.13 万套，假设一辆 商用车配置一套行车制动系统，公司 ABS、ESC、 EBS 产品在商用车领域的市场份额分别为 24.00%、 23.72%和 27.92%，稳居行业领先地位。 智通财经APP获悉，9月19日，瑞立科密(001285.SZ)开启申购，发行价格为42.28元/股，申购上限为1.60 万 ...

Core Viewpoint - The article highlights the significant role of active safety systems in the automotive industry's transition towards electrification and intelligence, emphasizing the importance of domestic production for industry autonomy and global competitiveness [2][8]. Company Overview - 瑞立科密 has evolved from a follower to a leader in the domestic commercial vehicle active safety system market over 20 years, establishing itself as a key player in the industry [2][4]. - The company is one of the few in China capable of developing various active safety systems, including ABS, ESC, EBS, EPB, and ECAS, covering mainstream technical routes in braking safety for commercial vehicles, passenger cars, and motorcycles [3][4]. Market Position - 瑞立科密 has maintained the top position in the production and sales of ABS and other braking systems for ten consecutive years, with market shares of 24.00%, 23.72%, and 27.92% for ABS, ESC, and EBS in the commercial vehicle sector, respectively [3][4]. - The company has established strategic partnerships with major domestic vehicle manufacturers, including FAW Jiefang, Dongfeng Group, and SAIC, and has begun exporting to Europe and the United States [4][6]. Financial Performance - The company reported revenues of 1.326 billion yuan, 1.760 billion yuan, and 1.977 billion yuan for 2022, 2023, and 2024, respectively, with net profits of 96.96 million yuan, 236 million yuan, and 269 million yuan during the same period [4][6]. - The active safety system business accounted for 74.24%, 82.37%, and 82.49% of the company's main business revenue from 2022 to 2024, indicating a strong focus on this segment [4]. Technological Advancements - 瑞立科密 has developed core technologies in active safety systems, breaking the international monopoly held by companies like ZF, Knorr, Bosch, and Continental, thus contributing to the domestic automotive industry's self-sufficiency [6][7]. - The company has achieved significant technological milestones, including the development of various advanced control technologies and has been recognized with numerous patents and industry awards [7][8]. Market Opportunities - The global automotive industry is shifting towards emerging markets, with significant growth potential in new energy vehicles, as evidenced by a compound annual growth rate of 47.03% in China's new energy vehicle production from 2015 to 2024 [8][9]. - New regulations mandating the installation of electronic stability control systems and electronic braking systems in commercial vehicles are expected to create a market space of approximately 3 billion yuan, which 瑞立科密 is well-positioned to capitalize on [9]. Future Outlook - The company plans to leverage its upcoming IPO to enhance its research and development capabilities and strengthen its market position in the global automotive intelligent electronic control system sector [9].

（原标题：瑞立科密启动招股 主动安全系统"硬核技术"筑牢行业地位） 瑞立科密(001285)首次公开发行股票并在主板上市招股意向书9月11日发布。按照本次发行计划，瑞立 科密公开发行股票的数量约4504.45万股，在深圳证券交易所主板上市，初步询价时间为9月15日，网上 网下申购日同为9月19日。 招股书显示，瑞立科密是专业从事机动车主动安全系统相关核心部件研发、生产和销售的国家高新技术 企业，主营业务为机动车主动安全系统和铝合金精密压铸件的研发、生产和销售以及技术服务。 瑞立科密是国内少数具备汽车制动防抱死系统（ABS）、电子稳定控制系统（ESC）、电子制动控制系 统（EBS）、电子驻车制动系统（EPB）、电控空气悬架系统（ECAS）等主动安全系统正向开发能力 的企业，核心产品已涵盖气压制动/液压制动、电控制动/线控制动等主流技术路线，广泛应用于商用 车、乘用车及摩托车的制动安全等领域。 历经20余年发展，瑞立科密已成长为国内商用车主动安全系统龙头企业，公司品牌"科密 （Kormee）"已成长为行业一线品牌。根据中国汽车工业协会统计，2014年至2023年，瑞立科密气压电 控制动产品包含的制动防抱死装置（A ...

Core Viewpoint - Ruike Kemi is accelerating its IPO process amid the rapid development of automotive intelligence, positioning itself as a leading enterprise in commercial vehicle active safety systems in China [1] Group 1: Company Overview - Ruike Kemi specializes in active safety systems for commercial vehicles, with core products including ABS, ESC, EBS, and EPB, applicable in commercial vehicles, passenger cars, and motorcycles [1] - The company has successfully passed the initial public offering (IPO) review and is set to list on the Shenzhen Stock Exchange [1] Group 2: Financial Highlights - The IPO aims to raise 1.522 billion yuan, with plans to invest approximately 881 million yuan in the development and manufacturing headquarters for automotive intelligent electronic control systems in the Greater Bay Area [1] - Revenue for Ruike Kemi from 2022 to 2024 is projected to be 1.326 billion yuan, 1.76 billion yuan, and 1.977 billion yuan, reflecting year-on-year growth rates of -4.18%, 32.81%, and 12.32% respectively [2] - Net profit attributable to shareholders for the same period is expected to be 96.9647 million yuan, 236 million yuan, and 269 million yuan, with growth rates of -50.91%, 143.32%, and 14.07% respectively, indicating some volatility in operating performance [2] Group 3: Production Capacity and Utilization - The production capacity for the pneumatic electronic braking system is set at 120,000 units for 2024, with a projected utilization rate of 75.12%, up from 72.77% in 2023 [2] - The hydraulic electronic braking system's capacity is expected to increase from 75,000 units in 2023 to 90,000 units in 2024, with a utilization rate of 96.73% [2] Group 4: Market Dynamics - The commercial vehicle market is experiencing a downturn, with sales figures declining from 5.133 million units in 2020 to an estimated 3.873 million units in 2024, a decrease of 3.92% year-on-year [7] - The transition to new energy vehicles is significantly impacting traditional commercial vehicle demand, with new energy commercial vehicle sales expected to grow by 56.89% in the first half of 2025 [7] Group 5: Challenges and Risks - Ruike Kemi faces challenges such as high accounts receivable, low turnover rates, and a high proportion of inventory, with accounts receivable reaching 622 million yuan in 2022, accounting for 46.92% of revenue [15] - The company has a complex relationship with its controlling shareholder, Ruike Group, which has historically been a major customer and supplier, but the reliance on this relationship has decreased significantly in recent years [9][11] Group 6: Competitive Landscape - The active safety system market is highly concentrated, with international giants like ZF, Knorr, Bosch, and Continental dominating the market share, posing a challenge for Ruike Kemi to compete effectively [17] - The company is working to enhance its technological capabilities and product offerings to keep pace with the evolving market demands for integrated solutions in commercial vehicle safety systems [18]

Overview - Bethel Automotive Safety Systems Co., Ltd. is issuing convertible bonds totaling 280,200 million yuan (28,020,000 bonds) [4][8] - The bonds will be listed on the Shanghai Stock Exchange on July 28, 2025 [4][9] - The bonds have a maturity period from July 1, 2025, to June 30, 2031, with a conversion period from January 7, 2026, to June 30, 2031 [4][8] Company Information - The registered capital of Bethel Automotive Safety Systems Co., Ltd. is 606.51 million yuan [9] - The company was established on June 25, 2004, and went public on April 27, 2018 [9] - The company specializes in the research, manufacturing, and sales of automotive safety system components, electronic control modules, and related consulting services [9] Bond Details - The convertible bond is named "伯 25 转债" with the code 113696 [4][9] - The bonds are rated AA by Zhongzheng Pengyuan Credit Rating Co., Ltd., with a stable outlook [5][6] - The bonds are unsecured and will not provide any guarantees [5] Issuance Process - The issuance will prioritize existing shareholders, with any remaining bonds available to the public through the Shanghai Stock Exchange [8][9] - If the subscription amount is less than 280,200 million yuan, the lead underwriters will underwrite the shortfall [8] Historical Context - The company previously issued convertible bonds totaling 90,200 million yuan in 2021, which were listed on July 21, 2021 [20] - The company has a history of share repurchase and employee stock ownership plans, indicating a commitment to shareholder value [15][21][28]

Group 1 - The introduction of the AEB (Automatic Emergency Braking) strong standard regulation is expected to accelerate the penetration of line control braking and promote domestic substitution of ESC (Electronic Stability Control) [1][2] - The Ministry of Industry and Information Technology has organized the solicitation of opinions for the national standard on AEB, with a proposed implementation date of January 1, 2028 [1] - The current penetration rate of AEB in new passenger cars in China is projected to reach 63% in 2024, an increase of approximately 5.6 percentage points year-on-year [1] Group 2 - AEB hardware consists of two main parts: intelligent driving (including cameras, millimeter-wave radar, and controllers) and chassis execution (which can utilize ESC or line control braking) [2] - Currently, ESC is primarily dominated by foreign companies, presenting significant opportunities for domestic substitution [2] - The new regulation is anticipated to drive the penetration of line control braking due to its higher braking efficiency compared to ESC [2]