（文章来源：证券日报） 证券日报网讯联合动力10月10日在互动平台回答投资者提问时表示，目前小米汽车是公司的主要客户之 一，公司向小米汽车供应电驱系统。公司暂时没有与华为鸿蒙智行合作。 ...

格隆汇10月10日丨联合动力(301656.SZ)在互动平台表示，公司致力于成为全球领先的智能电动汽车部 件及解决方案提供商，主要产品包括电驱系统（电控、电机、三合一/多合一驱动总成）和电源系统 （车载充电机、DC/DC转换器、二合一/三合一电源总成）等动力系统核心部件。目前，小米汽车是公 司的主要客户之一，公司向小米汽车供应电驱系统。公司暂时没有与华为、比亚迪、赛力斯合作。 ...

每经AI快讯，有投资者在投资者互动平台提问：请问贵公司有供货给小米汽车和华为汽车吗？ （记者 王晓波） 联合动力（301656.SZ）10月10日在投资者互动平台表示，目前小米汽车是公司的主要客户之一，公司 向小米汽车供应电驱系统。公司暂时没有与华为鸿蒙智行合作。 ...

Core Viewpoint - The A-share IPO market is experiencing growth in both the number of new listings and total fundraising amounts in the first three quarters of 2025 compared to the same period in 2024, indicating a healthier market environment [1][3][8]. Summary by Category IPO Quantity and Fundraising - A total of 78 new stocks were listed in the A-share market in the first three quarters of 2025, a 13.04% increase from 69 stocks in the same period last year [3][4]. - The total fundraising amount reached approximately 771.64 billion yuan, representing a 61.2% increase from 478.68 billion yuan in the previous year [3][4]. Major IPOs - The top five IPOs raised a total of about 320.75 billion yuan, a significant increase of 237.74% compared to 94.97 billion yuan in the same period last year [4]. - The largest IPO was Huadian New Energy, which raised approximately 181.71 billion yuan, followed by Zhongce Rubber with 40.66 billion yuan [3][4]. Market Segmentation - The number of new stocks listed on different boards included 29 on the Growth Enterprise Market (GEM), 26 on the Main Board, 15 on the Beijing Stock Exchange, and 8 on the Sci-Tech Innovation Board [5][6]. - The GEM accounted for approximately 37.18% of the new listings, with total fundraising of about 205.6 billion yuan, making up 26.64% of the total fundraising for the year [5][6]. Performance of New Stocks - Among the 78 new stocks, 50 reported a year-on-year increase in net profit, accounting for about 64.1% of the total [7]. - Notably, United Power achieved the highest net profit growth rate, with a 92.91% increase in net profit for the first half of 2025 [7]. Market Outlook - Experts suggest that the emphasis on "hard technology" in new stock listings reflects a focus on quality and regulatory control in the market [8]. - The overall performance of the A-share IPO market is expected to be better in 2025 compared to 2024, indicating a trend towards a healthier and fairer market environment [8].

Summary of Key Points Core Viewpoint - The A-share market is experiencing growth in the number of new IPOs and total fundraising in the first three quarters of 2025 compared to the same period in 2024, indicating a healthier market environment [1][3]. Group 1: IPO Statistics - A total of 78 new stocks were listed in the A-share market in the first three quarters of 2025, raising approximately 771.64 billion yuan, which is a 13.04% increase in the number of IPOs and a 61.2% increase in fundraising compared to the same period last year [1][3]. - The largest IPO was Huadian New Energy, which raised about 181.71 billion yuan, making it the only IPO to exceed 100 billion yuan this year [3]. - The top five IPOs raised a total of approximately 320.75 billion yuan, a significant increase of 237.74% compared to 94.97 billion yuan in the same period last year [3]. Group 2: Sector Performance - The ChiNext board had the highest number of new listings with 29 stocks, accounting for about 37.18% of total new listings, while the main board had 26 new stocks [4]. - The total fundraising from new stocks on the ChiNext board was approximately 205.6 billion yuan, representing about 26.64% of the total fundraising for new stocks this year [4]. - Notable IPOs from the main board included Zhongce Rubber and Tian You Wei, with fundraising amounts of 40.66 billion yuan and 37.4 billion yuan, respectively [3][4]. Group 3: Financial Performance - Among the 78 new stocks, 50 reported a year-on-year increase in net profit, representing about 64.1% of the total [6]. - The leading performer in terms of net profit growth was United Power, which achieved a 92.91% increase in net profit, amounting to approximately 5.49 billion yuan [6]. - Conversely, 28 stocks experienced a decline in net profit, with Huitong Technology showing the largest drop of 80.24% [6].

Core Viewpoint - The company aims to become a global leader in intelligent electric vehicle components and solutions, focusing on core power system components [1] Group 1: Product Offerings - The main products include electric drive systems (electric control, motors, integrated drive assemblies) and power systems (on-board chargers, DC/DC converters, integrated power assemblies) [1] - The company does not have plans to enter the robotics field [1]

9月25日，联合动力涨147.60%，成交额41.18亿元。两融数据显示，当日联合动力获融资买入额3.06亿 元，融资偿还1773.70万元，融资净买入2.88亿元。截至9月25日，联合动力融资融券余额合计2.88亿 元。 融资方面，联合动力当日融资买入3.06亿元。当前融资余额2.88亿元，占流通市值的5.59%。 资料显示，苏州汇川联合动力系统股份有限公司位于江苏省苏州市吴中区越溪天鹅荡路52号，成立日期 2016年9月30日，上市日期2025年9月25日，公司主营业务涉及公司致力于成为全球领先的智能电动汽车 部件及解决方案提供商,主要产品包括电驱系统(电控、电机、三合一/多合一驱动总成)和电源系统(车载 充电机、DC/DC转换器、二合一/三合一电源总成)等动力系统核心部件。主营业务收入构成为：电驱系 统86.85%，电源系统12.64%，其他(补充)0.43%，其他0.08%。 截至9月25日，联合动力股东户数16.82万，较上期增加5607900.00%；人均流通股991股，较上期增加 0.00%。2025年1月-6月，联合动力实现营业收入91.48亿元，同比增长51.08%；归母净利润5.49亿元， ...

Core Viewpoint - Suzhou Huichuan United Power System Co., Ltd. (stock code: 301656) was listed on the Shenzhen Stock Exchange's ChiNext board, opening at 34.20 yuan and closing at 30.90 yuan, with a rise of 147.60% and a total market capitalization of 743.08 billion yuan [1] Company Overview - The company aims to become a global leader in intelligent electric vehicle components and solutions, focusing on core components such as electric drive systems and power systems [1] - The controlling shareholder is Shenzhen Huichuan Technology Co., Ltd., which holds 94.51% of the total shares [1] Financial Performance - In 2022, 2023, and 2024, the company reported revenues of 502.70 million yuan, 936.54 million yuan, and 1.62 billion yuan, respectively, with net profits of -18.01 million yuan, 18.59 million yuan, and 93.59 million yuan [6][7] - The company achieved a net cash flow from operating activities of -13.68 million yuan in 2022, -9.70 million yuan in 2023, and 265.26 million yuan in 2024 [8] Stock Issuance and Fundraising - The company issued 28.86 million shares, accounting for 12.00% of the total shares post-issuance, at a price of 12.48 yuan per share, raising a total of 360.14 million yuan [4] - The net proceeds from the fundraising were 353.21 million yuan, which is 132.50 million yuan less than originally planned [4] Future Projections - For the first half of 2025, the company expects to achieve revenues of 914.81 million yuan, a year-on-year increase of 51.08%, and a net profit of 54.90 million yuan, up 92.91% [9] - The projected revenue for the first nine months of 2025 is between 1.40 billion yuan and 1.55 billion yuan, with a year-on-year growth of 30.62% to 44.61% [9]

Core Viewpoint - The recent listings of Jianfa Zhixin, United Power, and Jinhua New Materials on the stock exchanges highlight the growth and investment opportunities in the medical device and new energy sectors in China [1][2]. Group 1: Jianfa Zhixin - Jianfa Zhixin is a national high-value medical device distributor, primarily engaged in direct sales and distribution, providing centralized operation services for medical consumables to hospitals [1]. - The company has a market capitalization of 2.97 billion yuan, with an issuance price of 7.05 yuan per share and a P/E ratio of 13.29, significantly lower than the industry average of 25.73 [2]. - In 2024, Jianfa Zhixin's revenue is projected to be divided into three segments: direct sales (11.03 billion yuan, 61.69%), distribution (6.74 billion yuan, 37.68%), and services (112 million yuan, 0.63%) [4]. - The company plans to invest 1.4 billion yuan in information system upgrades, 1.04 billion yuan in centralized operation services, and 2.4 billion yuan to supplement working capital [3]. Group 2: United Power - United Power, spun off from the industrial automation giant Inovance Technology, specializes in new energy vehicle power systems, including electric drive and power supply systems [6][7]. - The company is a leader in the new energy vehicle power system sector, providing solutions to over 40 vehicle manufacturers and participating in the entire lifecycle of vehicle design and production [7]. - United Power's accounts receivable have increased significantly, with values of 1.85 billion yuan, 3.61 billion yuan, and 5.68 billion yuan from 2022 to 2024, representing 20.37%, 29.38%, and 31.45% of total assets respectively [8]. Group 3: Jinhua New Materials - Jinhua New Materials focuses on the research, production, and sales of ketoxime series fine chemicals, being a leader in the domestic silane crosslinking agent market with market shares of 27.85%, 31.60%, and 38.16% from 2022 to 2024 [9]. - The company's products are essential for various industries, including construction, energy, electronics, and new energy vehicles [9]. - Jinhua New Materials has received multiple national honors and has participated in the formulation of several industry standards [9].

Group 1: Company Listings - Jianfa Zhixin (建发致新) and United Power (联合动力) were listed on the Shenzhen Stock Exchange, while Jinhua New Materials (锦华新材) was listed on the Beijing Stock Exchange [1] Group 2: Jianfa Zhixin (建发致新) - Jianfa Zhixin is a national high-value medical device distributor, primarily engaged in direct sales and distribution of medical devices, and provides centralized operation services for medical consumables to hospitals [2] - The company raised a total of 445.51 million yuan, with a net amount of 363.33 million yuan after deducting issuance costs, which will be used for information system upgrades, centralized operation services for medical consumables, and to supplement working capital [2] Group 3: United Power (联合动力) - United Power aims to become a global leader in intelligent electric vehicle components and solutions, with main products including electric drive systems and power systems [3] - The company raised a total of 360.14 million yuan, with a net amount of 353.21 million yuan after deducting issuance costs, which will be allocated to the production of core components for new energy vehicles, R&D center construction, digital system development, and to supplement operating funds [4] Group 4: Jinhua New Materials (锦华新材) - Jinhua New Materials focuses on the R&D, production, and sales of ketoxime series fine chemicals, with main products including silane crosslinking agents and hydroxylamine salts [5] - The company raised a total of 59.29 million yuan, with a net amount of 54.91 million yuan after deducting issuance costs, which will be used for a high-end coupling agent project, a pilot project, and the construction of an intelligent factory for the ketoxime industry chain [5]