□ 本报记者 胡春春 "大而强""小而美"回归业绩增长 "次新股""隐形冠军"一路领涨 当前，市场普遍认为，本轮A股大涨主要是政策红利、产业升级和资金重构等多重因素的合力推动。整 体来看，新兴产业备受青睐，如通信设备、电子元件、生物制药等行业轮番领涨。 在本轮大涨中，最典型的"牛股"，来自细分领域龙头企业，尤其是上市5年以内的次新股。这得益于江 苏近年来持续布局战略性新兴产业，在许多细分领域陆续跑出一批隐形冠军。这些细分领域龙头走向资 本市场后，集聚人才、技术、市场等资源要素，获得快速发展。 2023年上市的茂莱光学是国内超精密光学龙头企业，凭借精密光学产品成为许多头部半导体企业的供应 商。作为国内模拟芯片领军企业，思瑞浦于2020年上市，被认为是所处行业国产替代的代表，今年上半 年该公司净利润同比增长约200%。隆扬电子2022年上市，该公司不仅是电磁屏蔽材料的细分龙头，也 是目前全球唯二能量产HVLP5+铜箔的企业。据了解，该公司一笔与中国台湾台光电子的订单已签至 2027年。 从产业链上看，在新能源汽车产业链上，中材科技、瑞可达等都受益于新能源车渗透率提升及国产替代 加速。在智能制造与工业4.0上，主营 ...

以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 全球投融资周报 睿兽分析每周整理当周最值得关注的国内外热门投融资事件，帮助大家及时了解全球市场动向。 一级市场投融资概览 根据睿兽分析监测数据，本周国内一级市场披露的融资事件87个， 与上周相比减少26个， 其中已披 露融资金额的事件28个， 总融资规模为41.86亿元人民币， 平均融资金额为1.50亿元人民币。 行业分布 从融资事件数量来看，本周智能制造、医疗健康、人工智能领域融资最活跃。 分别为智能制造22 个、医疗健康17个、人工智能14个。 从已披露金额事件的融资规模来看，汽车交通最高，融资总规模约为16.00亿元人民币。 其中汽车电 子芯片研发商 「芯擎科技」 获过10亿人民币B轮融资。 芯擎科技是一家专注于汽车电子芯片整体方案提供的中外合资高科技公司。公司致力于为汽车产业的 未来发展提供技术先进的SOC解决方案，通过集成电路设计、制造与销售，以及智能车载设备、软件 的开发，推动汽车智能化进程。 其次是智能制造行业，已披露融资总额 ...

Group 1 - The 2025 Fortune China 500 list includes 38 companies from Shenzhen, such as Huawei, AAC Technologies, BYD, and Ping An [1] - The list is based on the same methodology as the Fortune Global 500, covering both listed and unlisted companies, providing insights into the latest development trends of China's largest enterprises [1] Group 2 - Among the top ten most profitable companies, Tencent and Ping An, both private enterprises from Shenzhen, achieved significant net profit growth, with Tencent's net profit exceeding $26.9 billion, a year-on-year increase of over 65%, ranking 6th in profitability [3] - Ping An ranked 10th in the profitability list, showcasing strong financial performance [3] - AAC Technologies reported a record revenue of 27.33 billion RMB in 2024, with a net profit of 1.797 billion RMB, reflecting a year-on-year growth of 142.7% [3] - AAC Technologies leads in multiple sectors, including micro-acoustics and precision optics, and has been recognized as a "Manufacturing Single Champion" by the Ministry of Industry and Information Technology [3] - The total revenue of the 500 companies on the list is projected to reach $14.2 trillion in 2024, with a net profit of $756.4 billion, representing a growth of approximately 7% compared to the previous year [3] - In dollar terms, China's GDP is expected to reach $18.75 trillion in 2024, with the combined revenue of the 500 companies accounting for about three-quarters of the country's GDP [3]

Group 1: Company Overview - The company specializes in research, production, sales, and service in the infrared optoelectronics field, being one of the few private manufacturers in China capable of producing both cooled and uncooled infrared detectors [2][3]. - The cooled infrared products include antimony indium series and type II superlattice series, with the former being the main contributor to sales during the reporting period [3]. Group 2: Market Demand and Applications - The market demand for cooled infrared detectors is expected to maintain a strong growth trend, particularly in defense applications, although specific data for the military infrared market in China is not publicly available [4]. - Cooled infrared detectors are primarily used for long-distance monitoring, target tracking, guidance, aerospace, and reconnaissance due to their high sensitivity and long detection range [5]. Group 3: Financial Performance - In 2024, the company achieved a revenue of CNY 960.645 million, representing a year-on-year growth of 36.93%, with a net profit of CNY 172.673 million, also up by 36.18% [7][8]. - The company plans to adjust the classification of its revenue to better reflect the performance of its various optical products, particularly as non-cooled infrared and precision optical products are expected to grow rapidly [8]. Group 4: Future Development Plans - The company aims to accelerate capacity construction and improve production efficiency for key components like type II superlattice detectors and uncooled detectors in 2025 [9]. - There will be an increase in R&D investment to enhance product lines, focusing on advanced infrared products and exploring new technologies like avalanche photodetectors and semiconductor infrared lasers [9]. - The company plans to strengthen internal controls and optimize management processes to improve operational efficiency and reduce costs [9]. Group 5: Product Margins and Market Strategy - The gross margin for optical products decreased in 2024 due to a higher proportion of lower-margin uncooled products and rapid sales growth of cooled detectors, which have lower margins compared to core products [9]. - The sales strategy for type II superlattice detectors will target both existing and new customers to expand market reach [9].

Core Viewpoint - The company is preparing for its 2024 annual shareholders' meeting, where various proposals will be discussed, including the appointment of auditors, financial reports, and capital changes. Group 1: Meeting Procedures - Shareholders and their representatives must arrive 30 minutes before the meeting to complete registration and present necessary identification documents [2][3] - The meeting will follow a specific agenda, allowing shareholders to exercise their rights to speak, inquire, and vote [2][3][4] - Voting will be conducted both on-site and online, with specific time frames for each method [5] Group 2: Financial Reports and Proposals - The company will present its 2024 annual financial report, which indicates a projected revenue increase of 51.38% despite a net loss for the year [8][9] - The profit distribution plan for 2024 proposes no cash dividends or stock bonuses due to the company's current financial situation and investment needs [8][11] - The company plans to continue its strategic investments in technology and capacity expansion, anticipating improved performance in the coming years [9][10] Group 3: Auditor Appointment - The company proposes to reappoint Tianjian Accounting Firm as its auditor for the 2025 fiscal year, with an audit fee of 750,000 RMB [11][12] - Tianjian has a strong track record and familiarity with the company's operations, which supports the decision for reappointment [11][12] Group 4: Capital and Financing - The company intends to apply for a credit limit of up to 1.5 billion RMB from financial institutions to support its operational and investment needs [19] - The company will provide guarantees for its subsidiaries' loans within the approved credit limit [19] - A proposal for foreign exchange hedging activities is also on the agenda, aimed at mitigating currency risk associated with international transactions [21][22] Group 5: Governance Changes - The company plans to amend its articles of association to eliminate the supervisory board, transferring its responsibilities to the audit committee of the board [30] - This change is part of a broader effort to enhance corporate governance and streamline operations [30]

Key Points - The article discusses various government-led investment funds established across different regions in China, focusing on strategic emerging industries and technological innovation [5][6][8][10][12][14][15][19][20][21]. Group 1: Government Guidance Funds - Hefei plans to establish a 10 billion yuan future industry fund to support the development of the intelligent robotics industry, with an additional 2 billion yuan allocated for public service platforms over three years [5]. - The Zhongguancun War New Fund, with a scale of 10 billion yuan, was launched to focus on strategic emerging industries and support hard technology enterprises [5]. - Chongqing's first S mother fund aims for a target scale of 3.6 billion yuan, focusing on strategic emerging industries and optimizing private equity investment exit mechanisms [6][7]. - Tianjin's state-owned industry development mother fund is set to reach approximately 6 billion yuan, supporting major strategic projects and optimizing state-owned enterprise structures [8]. Group 2: New Investment Funds - The first QFLP fund in Anhui has been established with a total scale of 300 million yuan, focusing on cross-border investment in key projects [8]. - Shenzhen's Longgang District has set up a 2 billion yuan district-level government-guided merger fund, targeting new generation information technology and strategic emerging industries [8]. - The Linyi City Carbon Neutral Industry Investment Fund is recruiting sub-fund management institutions, focusing on new energy and advanced manufacturing [9]. - The Zhengzhou Airport New Emerging Industry Development Fund has completed registration with a total scale of 5 billion yuan, focusing on equity investment and asset management [10]. Group 3: Industry-Specific Funds - The Shanghai Jing'an District has established a beauty industry investment fund with a total scale of 2 billion yuan, focusing on innovative brands in the beauty sector [11]. - Ningbo is planning to set up two new funds, one for the intelligent IoT industry with a scale of 300 million yuan and another for new display technology with a scale of 150 million yuan [11]. - The Jiangsu Province Strategic Emerging Industry Mother Fund is collaborating with Yancheng to establish a 2 billion yuan green low-carbon industry fund [12]. - The Guizhou Qianli Biopharmaceutical Venture Capital Fund has been established with a total scale of 500 million yuan, focusing on the biopharmaceutical industry [19]. Group 4: Corporate Participation in Funds - Companies like BoRui Pharmaceutical and ZhiTe New Materials are participating in various investment funds, focusing on early-stage projects in the pharmaceutical and new materials sectors [19][20]. - The establishment of the Guangzhou Tianze Aorong Equity Investment Fund, with a total scale of 500 million yuan, aims to invest in technology innovation [20]. - The Zhejiang Dongfang Group's subsidiary has registered a digital economy-focused investment fund with a scale of 200 million yuan [21].