资料显示，2015年，大富科技围绕消费电子行业上下游进行投资，与内蒙古瑞盛新能源有限公司（以下简称"瑞盛新能源"）及其实际控制人 张彬签署了《投资总协议》，大富科技与瑞盛新能源合资成立大盛石墨，共同开展石墨烯等石墨应用的产品与项目的研发、生产和销售等。大 富科技以6亿元现金出资，持有大盛石墨49%股权。 据悉，大盛石墨主营天然石墨深加工，核心产品包括高纯石墨、可膨胀石墨、导电剂、锂离子电池负极材料及石墨化加工服务，下游覆盖冶 金、化工、电子、新能源电池、密封散热等领域。 往 期 回 顾 | 01 | ｜ | 融捷能源：下一代储能电芯技术，向大容量、高效率、长循环演进 | | --- | --- | --- | | 02 | ｜ | 先导智能：破界·精工 定义全固态电池量产新标准 | | 03 | ｜ | 德赛电池：主动安全-重新定义能源安全范式-基于实时感知与智能响应的下一代技 | | | 术方案 | | | 04 | ｜ | 清陶云能：瓦特和比特——AI时代绿色数据中心的储能电池需求 | 12月18日，大富科技发布公告称，公司董事会此前于10月审议通过了《关于拟挂牌出售乌兰察布市大盛石墨新材料股份有限公司4 ...

12月18日晚间，大富科技（300134）公告，公司于2025年10月27日召开董事会审议通过了《关于拟挂牌出售乌兰察布市大盛石墨新材料股份有限公司49% 股权的议案》，同意挂牌出售所持大盛石墨49%的股权。本次交易的底价将以评估值为基础，公司将以2.06亿元的底价正式挂牌转让大盛石墨49%股权。 本次交易通过公开挂牌方式进行，股权转让事项的受让方、最终交易价格及交易的结果尚存在不确定性。 据悉，2015年，大富科技与内蒙古瑞盛新能源有限公司合资成立乌兰察布市大盛石墨新材料股份有限公司(以下简称"大盛石墨")，共同开展石墨烯等石墨 应用的产品与项目的研发、生产和销售等。公司以6亿元现金出资，持有大盛石墨49%股权。 大盛石墨股东全部权益账面值3.84亿元，评估值4.19亿元，增值率9.27%。上述资产评估已经蚌埠市国资委核准批复。 资料显示，大盛石墨主营天然石墨深加工，核心产品包括高纯石墨、可膨胀石墨、导电剂、锂离子电池负极材料及石墨化加工服务，下游覆盖冶金、化 工、电子、新能源电池、密封散热等领域。 经查询大盛石墨2016年至2024年审计报告，自2016年起，大盛石墨持续多年亏损，2021年及2022年受 ...

大富科技（300134）(300134.SZ)公告，公司董事会此前于2025年10月27日审议通过了《关于拟挂牌出 售乌兰察布市大盛石墨新材料股份有限公司49%股权的议案》。截至目前，大盛石墨的审计、评估工作 已经完成。本次交易的底价将以评估值为基础，根据评估报告的评估结果，公司将以2.06亿元的底价正 式挂牌转让大盛石墨49%股权。 公告显示，大盛石墨主营天然石墨深加工，核心产品包括高纯石墨、可膨胀石墨、导电剂、锂离子电池 负极材料及石墨化加工服务，下游覆盖冶金、化工、电子、新能源电池、密封散热等领域。公司本次转 让大盛石墨49%股权，是为了进一步响应公司剥离低效资产、加快流动性收回的经营规划，有利于进一 步优化资源配置、夯实基础、聚焦主业。 ...

公告显示，大盛石墨主营天然石墨深加工，核心产品包括高纯石墨、可膨胀石墨、导电剂、锂离子电池 负极材料及石墨化加工服务，下游覆盖冶金、化工、电子、新能源电池、密封散热等领域。公司本次转 让大盛石墨49%股权，是为了进一步响应公司剥离低效资产、加快流动性收回的经营规划，有利于进一 步优化资源配置、夯实基础、聚焦主业。 智通财经APP讯，大富科技(300134.SZ)公告，公司董事会此前于2025年10月27日审议通过了《关于拟挂 牌出售乌兰察布市大盛石墨新材料股份有限公司49%股权的议案》。截至目前，大盛石墨的审计、评估 工作已经完成。本次交易的底价将以评估值为基础，根据评估报告的评估结果，公司将以2.06亿元的底 价正式挂牌转让大盛石墨49%股权。 ...

Core Viewpoint - Guomin Technology has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor. The company operates in the integrated circuit and lithium battery materials sectors, with both business segments expected to contribute approximately 47% of revenue in 2024 [2][3]. Group 1: Business Overview - Guomin Technology is a platform-based integrated circuit design company that provides high-security, high-reliability, and high-integration control chips and system solutions for various smart terminals. The company also develops lithium battery anode materials, creating a synergistic dual business model of "integrated circuits + new energy materials" [3][7]. - In the integrated circuit sector, the company focuses on four product lines: general-purpose MCUs, specialized market chips, RF chips, and BMS. It ranks among the top five Chinese companies in the global platform MCU market and is the leading company in the Chinese MCU market with built-in commercial encryption algorithm modules [7]. - The lithium battery anode materials business includes independent research, production, and sales of products such as artificial graphite and graphitization processing services, widely used in electric vehicles, energy storage systems, and portable devices [7]. Group 2: Financial Performance - Guomin Technology has experienced steady revenue growth in recent years but has faced continuous losses. In 2024, the company achieved revenue of 1.17 billion yuan, a year-on-year increase of 12.6%, while incurring a loss of 256 million yuan, although the loss narrowed compared to the previous year [12]. - The company reported a revenue of 304 million yuan in the first quarter of 2025, representing a year-on-year growth of 31.87%, with a net loss of approximately 21.38 million yuan [12]. - The company's gross profit margin has been unstable, with figures of 35.6%, 1.7%, and 15.6% from 2022 to 2024. The significant drop in 2023 was attributed to oversupply in the market leading to price declines and inventory write-downs [12]. - Research and administrative expenses are substantial, accounting for 16% and 13.9% of revenue in 2024, respectively. The company has reported a net cash outflow from operating activities for three consecutive years, with a cash and cash equivalents balance of 362 million yuan and short-term borrowings of 837 million yuan at the end of the period [12]. Group 3: Shareholding Structure - The prospectus indicates that Guomin Technology does not have a controlling shareholder or actual controller. Prior to the Hong Kong listing, the largest single shareholder is Sun Yingtong, holding 2.65% of the shares [13][16].

Core Viewpoint - Guomin Technology Co., Ltd. (国民技术) has submitted its prospectus for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor. The company is a platform-based integrated circuit design firm focused on providing high-security, high-reliability, and highly integrated control chips and system solutions for various smart terminals [1][3]. Company Overview - Guomin Technology is ranked among the top five Chinese companies in the global platform MCU market by revenue in 2024, and it ranks first in the Chinese MCU market with built-in commercial encryption algorithm modules [3]. - The company was established in March 2000 and is located in Shenzhen, Guangdong Province, with a registered capital of approximately 580 million RMB [5]. Financial Performance - The company's revenue for 2022, 2023, and 2024 is approximately 1.195 billion RMB, 1.037 billion RMB, and 1.168 billion RMB, respectively. The gross profit for the same years is approximately 426 million RMB, 18 million RMB, and 182 million RMB, while the net losses are approximately 18.93 million RMB, 594 million RMB, and 256 million RMB [4][6]. - Adjusted net profits (losses) according to non-IFRS measures for 2022, 2023, and 2024 are approximately 119 million RMB, -591 million RMB, and -192 million RMB, respectively, primarily due to the impact of share-based payments [7]. Product Sales and Market Trends - The sales volume of chip products increased from 136 million units in 2022 to 190 million units in 2023, and is expected to reach 341 million units in 2024. However, revenue from chip products decreased by 8.96% in 2023 to approximately 417 million RMB, with a projected increase of 33.22% in 2024 to about 556 million RMB [8]. - The sales volume of artificial graphite products increased from 14,000 tons in 2022 to 19,600 tons in 2023, and is expected to reach 26,500 tons in 2024, attributed to customer trust in the company's quality products [8]. Market Outlook - The global MCU market is projected to grow from approximately 29.9 billion USD in 2024 to about 48 billion USD by 2029, with a compound annual growth rate (CAGR) of 9.9% [3].