Core Viewpoint - Sichuan Huafeng Technology Co., Ltd. plans to issue A-shares to specific investors, which may dilute immediate returns, and the company has proposed measures to compensate for this dilution [2][7][12] Group 1: Financial Impact Analysis - The company will issue no more than 30 million shares, with the final number subject to approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission [2][5] - The projected net profit attributable to shareholders for 2025, excluding non-recurring gains and losses, is estimated at -78.26 million yuan, with three scenarios for growth: flat, 10% increase, and 20% increase from 2024 [3][6] - The basic and diluted earnings per share (EPS) are projected to remain negative across all scenarios, with EPS of -0.04 yuan per share before and after the issuance under the flat scenario [6][9] Group 2: Purpose and Use of Funds - The funds raised will be used for projects including the expansion of high-speed cable modules, the construction of a defense connector base, and upgrading communication connector R&D capabilities, aligning with the company's core business and national industrial policies [8][9] - The company has a strong market position in the electrical connector industry, with established relationships with major clients such as Huawei and China Aerospace [9] Group 3: Measures to Mitigate Dilution - The company plans to enhance fund management to ensure effective use of raised capital, improve operational efficiency, and optimize the profit distribution policy to protect investor interests [10][11] - Commitments from company executives and controlling shareholders have been made to ensure the implementation of measures to mitigate the dilution of immediate returns [12]

Core Viewpoint - The company, Sichuan Huafeng Technology Co., Ltd., is focusing on raising funds through a specific stock issuance to enhance its capabilities in the technology innovation sector, particularly in the production of connectors and related components for various industries [21][22]. Group 1: Company's Main Business - The company primarily engages in the research, production, and sales of optical and electrical connectors and cable assemblies, which are essential components for signal transmission in various electronic devices and systems [1]. - Connectors are widely used across multiple sectors, including defense, aerospace, communications, automotive, rail transportation, and industrial applications [2]. Group 2: Fundraising and Investment Plans - The company plans to raise up to RMB 1 billion (100,000 million) through a specific stock issuance, with the net proceeds allocated to various projects [5]. - The total investment for the proposed projects amounts to RMB 1.1644891 billion (116,448.91 million), indicating a significant commitment to expanding its operational capabilities [5]. Group 3: Project Details - The High-Speed Line Module Expansion Project aims to enhance the production capacity of communication high-speed connector components, with an investment of RMB 449.734 million (44,973.40 million) and a planned use of RMB 388 million (38,800.00 million) from the raised funds [6][8]. - The Defense Connector Base Construction and Capacity Expansion Project involves an investment of RMB 470.1551 million (47,015.51 million), with a planned use of RMB 387.4 million (38,740.00 million) from the raised funds [10][15]. - The Communication Connector R&D Capability Upgrade Project has a total investment of RMB 80 million (8,000.00 million), with RMB 60 million (6,000.00 million) allocated from the raised funds [16]. Group 4: Market Opportunities and Trends - The company is positioned to capitalize on the rapid growth of artificial intelligence and data center demands, with the AI computing market in China projected to reach approximately USD 19 billion by 2024 [7]. - The company has established strong partnerships with leading global suppliers in the communications sector, enhancing its market presence and competitive edge [2]. Group 5: Technological and Policy Support - The company benefits from a robust technological foundation, having developed advanced connector technologies that meet high-performance standards for AI computing and data transmission [8][14]. - National policies are increasingly supportive of the digital economy and defense modernization, providing a favorable environment for the company's growth initiatives [10][21].

Core Viewpoint - Huafeng Technology reported significant revenue growth in 2024 and Q1 2025, driven by expansion in the server sector and new communication business capabilities [1][4]. Group 1: Financial Performance - In 2024, Huafeng Technology achieved a revenue of 1.092 billion yuan, representing a year-on-year increase of 20.83% [1]. - For Q1 2025, the company reported a revenue of 406 million yuan, a remarkable year-on-year growth of 79.82% [1]. - The net profit attributable to shareholders for Q1 2025 reached 31.81 million yuan, a substantial increase of 207.17% year-on-year [1]. - The company's non-recurring net profit for Q1 2025 was 23.05 million yuan, with an astonishing growth rate of 2253.89% [1]. Group 2: Market Position and Strategy - Huafeng Technology holds a significant position in the research, production, and sales of optical and electrical connectors, with applications in defense, communication, and automotive sectors [3]. - The company has successfully established relationships with key clients such as Huawei, ZTE, Inspur, and H3C in the high-end server market [3]. - The global AI server market is rapidly growing, with an expected increase from 125.1 billion USD in 2024 to 158.7 billion USD in 2025, and potentially reaching 222.7 billion USD by 2028 [3]. Group 3: Production Capacity and Profitability - The gross profit margin for Q1 2025 reached 27.9%, an increase of 12.2 percentage points year-on-year, attributed to the release of high-speed module production capacity [4]. - The completion of automated production lines has significantly reduced labor costs, enhancing product profit margins [4]. - The company is actively advancing its capacity enhancement plans, with the third phase of the connector industrial park nearing completion [3]. Group 4: Research and Development - In 2024, Huafeng Technology's R&D investment reached 110 million yuan, a year-on-year increase of 20.99%, maintaining R&D expenses at over 10% of sales revenue [5]. - The company applied for 68 new patents in 2024, including 23 invention patents and 44 utility model patents, and received 52 new authorized patents [5]. - Significant advancements were made in communication technology, including the development of 224G copper cable high-speed transmission technology and 112G high-density backplane products [6]. Group 5: Industry Trends and Future Outlook - The demand for high-speed backplane connectors and high-speed I/O connectors is expected to increase as server cabinets integrate more GPUs, presenting a broad market opportunity for Huafeng Technology [7]. - The company is focusing on new quality production capabilities in defense, industrial, and automotive sectors, aligning with trends in automation and smart technology [7]. - The rise of AI and the transformation in the connector industry position Huafeng Technology to capture market share and achieve sustained growth [7].

股票简称：华丰科技 股票代码：688629 四川华丰科技股份有限公司 Sichuan Huafeng Technology Co., LTD. （四川省绵阳市经开区三江大道118号） 首次公开发行股票科创板 上市公告书 保荐人（主承销商） 新疆乌鲁木齐市高新区（新市区）北京南路 358 号 大成国际大厦 20 楼 2004 室 二〇二三年六月二十六日 1 特别提示 四川华丰科技股份有限公司（以下简称"华丰科技"、"发行人"、"本公 司"或"公司"）股票将于 2023 年 6 月 27 日在上海证券交易所科创板上市。 本公司提醒投资者应充分了解股票市场风险以及本公司披露的风险因素，在 新股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 2 第一节 重要声明与提示 一、重要声明与提示 本公司及全体董事、监事、高级管理人员保证上市公告书所披露信息的真实、 准确、完整，承诺上市公告书不存在虚假记载、误导性陈述或者重大遗漏，并依 法承担法律责任。 上海证券交易所、有关政府机关对本公司股票上市及有关事项的意见，均不 表明对本公司的任何保证。 本 公 司 提 醒 广 大 投 资 者 认 真 阅 读 刊 载 于 上 ...

qyixwoz 本次发行股票拟在科创板上市，科创板公司具有研发投入大、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 应充分了解科创板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。 四川华丰科技股份有限公司 Sichuan Huafeng Technology Co., LTD. （四川省绵阳市经开区三江大道 118 号） 首次公开发行股票并在科创板上市 保荐人（主承销商） （新疆乌鲁木齐市高新区（新市区）北京南路 358 号 1-1-1 四川华丰科技股份有限公司 招股说明书 招股说明书 大成国际大厦 20 楼 2004 室） 科创板投资风险提示 四川华丰科技股份有限公司 招股说明书 声 明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表 明其对发行人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 断或保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》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；投资者自主判断发行人的投资价值，自主作出投资决策 ...

本次发行股票拟在科创板上市，科创板公司具有研发投入大、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 应充分了解科创板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。 四川华丰科技股份有限公司 Sichuan Huafeng Technology Co., LTD. （四川省绵阳市经开区三江大道 118 号） 首次公开发行股票并在科创板上市 保荐机构（主承销商） （新疆乌鲁木齐市高新区（新市区）北京南路 358 号 1-1-1 四川华丰科技股份有限公司 招股意向书 qyixwoz 招股意向书 大成国际大厦 20 楼 2004 室） 科创板投资风险提示 四川华丰科技股份有限公司 招股意向书 声 明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表 明其对发行人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 断或保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》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；投资者自主判断发行人的投资价值，自主作出投资决 ...

本次发行股票拟在科创板上市，科创板公司具有研发投入大、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 应充分了解科创板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。 四川华丰科技股份有限公司 Sichuan Huafeng Technology Co., LTD. （四川省绵阳市经开区三江大道 118 号） 首次公开发行股票并在科创板上市 招股说明书 （注册稿） 本公司的发行申请尚需经上海证券交易所、中国证监会履行相应程 序。本招股说明书（注册稿）不具有据以发行股票的法律效力，仅供预先 披露之用。投资者应当以正式公告的招股说明书全文作为作出投资决定的 依据。 保荐机构（主承销商） （新疆乌鲁木齐市高新区（新市区）北京南路 358 号 大成国际大厦 20 楼 2004 室） 1-1-1 四川华丰科技股份有限公司 招股说明书（注册稿） qyixwoz 科创板投资风险提示 四川华丰科技股份有限公司 招股说明书（注册稿） 声 明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表 明其对发行人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 ...