| 简称 | 申购代 | 发行日期 | 发行 | 发行总量（万 | 网上发行量（万 | 网上发行最终中签率 | | --- | --- | --- | --- | --- | --- | --- | | | 码 | | 价 | 股） | 股） | （%） | | 北芯生命 | 787712 | 2026.01.26 | 17.52 | 5700.00 | 1368.00 | 0.03264275 | | 恒运昌 | 787785 | 2026.01.16 | 92.18 | 1693.06 | 541.75 | 0.02184853 | | 强一股份 | 787809 | 2025.12.19 | 85.09 | 3238.99 | 1036.50 | 0.02295383 | | 健信超导 | 787805 | 2025.12.15 | 18.58 | 4192.00 | 1341.45 | 0.0241683 | | 优迅股份 | 787807 | 2025.12.08 | 51.66 | 2000.00 | 640.00 | 0.0224897 | | 沐曦股份 U | 787802 | 2025.12 ...

关注本周新股申购情况。 根据发行安排，本周（1月26日—1月30日），A股市场将有3只新股申购，为科创板的北芯生命、电科 蓝天和沪市主板的林平发展（603284），3股分别将于本周一（北芯生命）和周五（电科蓝天、林平发 展）开启申购。 资料显示，北芯生命是国内领先的心血管精准诊疗创新医疗（002173）器械企业，林平发展是国内领先 的循环造纸生产商，电科蓝天是国内宇航电源的核心供应商，公司宇航电源产品在国内市场覆盖率超过 50%。 具体来看，北芯生命的发行价为17.52元/股，公司单一账户申购上限为9000股，顶格申购需持沪市市值 9万元。 公司本次募集资金将主要用于介入类医疗器械产业化基地建设项目、介入类医疗器械研发项目和补充流 动资金。 电科蓝天单一账户申购上限为27500股，顶格申购需持沪市市值27.5万元。 招股书显示，电科蓝天主要从事电能源产品及系统的研发、生产、销售及服务，拥有发电、储能、控制 和系统集成全套解决方案，产品应用领域实现深海（水下1公里）至深空（距地球2.25亿公里）广泛覆 盖。公司在电能源领域深耕数十年，致力于成为中国先进电能源系统解决方案和核心产品的供应商。 招股书显示，北芯生命 ...

Group 1: New Stock Offerings - This week (January 26 - January 30), three new stocks will be available for subscription in the A-share market: Beixin Life, Electric Science Blue Sky, and Linping Development [1] - Beixin Life is a leading domestic company in cardiovascular precision diagnosis and innovative medical devices, with an issue price of 17.52 yuan per share and a single account subscription limit of 9,000 shares [1] - Electric Science Blue Sky is a core supplier of aerospace power systems, with a market coverage of over 50% in domestic aerospace power products [1][4] Group 2: Beixin Life - Beixin Life is the first domestic medical device company to have both FFR and IVUS product combinations, filling a market gap and reducing reliance on imported products [2] - The core product, the FFR system, captured 30.6% of the domestic market share in 2021, with over 70% of its usage in tertiary hospitals by September 30, 2025 [2] - Revenue projections for Beixin Life are 0.92 billion yuan, 1.84 billion yuan, and 3.17 billion yuan for the years 2022, 2023, and 2024, respectively, with net losses of -290 million yuan, -140 million yuan, and -44 million yuan [2] Group 3: Electric Science Blue Sky - The single account subscription limit for Electric Science Blue Sky is 27,500 shares, requiring a market value of 275,000 yuan [3] - The company specializes in the research, production, and sales of electric energy products and systems, covering applications from deep sea to deep space [4] - Revenue projections for Electric Science Blue Sky are 25.21 billion yuan, 35.24 billion yuan, and 31.27 billion yuan for the years 2022, 2023, and 2024, with net profits of 2.08 billion yuan, 1.9 billion yuan, and 3.37 billion yuan [5] Group 4: Linping Development - The single account subscription limit for Linping Development is 7,500 shares, requiring a market value of 75,000 yuan [7] - Linping Development focuses on the research, production, and sales of corrugated paper and boxboard products, emphasizing environmental protection and resource recycling [7] - Revenue projections for Linping Development are 28.79 billion yuan, 28 billion yuan, and 24.85 billion yuan for the years 2022, 2023, and 2024, with net profits of 1.54 billion yuan, 2.12 billion yuan, and 1.53 billion yuan [7]

作为北芯生命此次发行上市的保荐人和主承销商，中金公司在与公司长期合作进程中，既见证了公司稳 健快速的发展，亦深切体会到公司管理层超前的行业洞察力与深厚的从业经验。公司的技术平台、研发 体系以及丰富的产品管线，都为未来的长期发展奠定了坚实基础。此次上市，将为公司注入更多的资本 力量，进一步推动其核心产品的产业化进程，加强全球市场布局，并推动公司向世界级医疗科技企业的 目标迈进。 我们相信，通过此次公开发行，北芯生命能够充分释放其创新潜力。我们也期待，北芯生命这样一家优 秀的医疗器械企业，在资本市场的大舞台上，展现更加亮眼的成绩。 在今天的网上交流中，我们将认真负责地回答各位投资者朋友提出的问题，让大家能更全面、深入地了 解北芯生命，帮助大家把握投资机会，共享北芯生命的发展硕果。欢迎大家踊跃提问，积极申购。 最后，预祝北芯生命本次发行圆满成功！谢谢大家！ 尊敬的各位嘉宾、各位投资者朋友： 大家好！ 首先，我谨代表中国国际金融股份有限公司，向所有参与深圳北芯生命科技股份有限公司网上投资者交 流会的嘉宾和投资者表示热烈的欢迎和衷心的感谢！ 北芯生命自成立以来，凭借强大的自主研发能力、技术创新积累和良好的市场口碑，迅速 ...

北芯生命：专注心血管精准介入领域用创新和品质改善生命健康 ——深圳北芯生命科技股份有限公司首次公开发行股票并在科创板上市网上投资者交流会精彩回放 出席嘉宾 深圳北芯生命科技股份有限公司董事长、总经理（首席执行官）宋亮先生 深圳北芯生命科技股份有限公司董事、副总经理、财务负责人（首席财务官）连菲女士 深圳北芯生命科技股份有限公司董事会秘书罗睿先生 罗睿：公司是一家专注于心血管疾病精准诊疗创新医疗器械研发、生产和销售的国家高新技术企业，致 力于开发为心血管疾病诊疗带来变革的精准解决方案。自成立以来，公司根据心血管疾病诊疗临床需求 和前沿技术发展持续布局了冠状动脉疾病、外周血管疾病及房颤等领域。 问：公司的主要产品和服务有哪些？ 罗睿：截至2025年9月30日，公司累计向市场推出11个产品，在研产品共有6个，覆盖IVUS系统、FFR 系统、血管通路产品、冲击波球囊治疗系统及电生理解决方案五大产品类别。公司核心产品包括血管内 超声（IVUS）诊断系统和血流储备分数（FFR）测量系统。 问：请介绍公司主要业务的经营情况。 罗睿：公司核心产品FFR系统于2020年上市后，即于2021年占据了30.6%的国内市场份额。截至 ...

本周，2只北交所新股的上市首日平均涨幅为168.91%，维持较高活跃度。Choice数据显示，2025年共有26只北交所新股上市，上市首日平均涨幅为 368.13%，较2024年大幅提升。 根据目前安排，下周将有3只新股可申购。拟于下周一（1月26日）申购的北芯生命是国内领先的精准PCI医疗器械生产商。公司核心产品血管内超声 （IVUS）诊断系统为中国首个获国家药监局批准的自主创新60MHz高清高速国产IVUS产品，核心产品血流储备分数（FFR）测量系统为金标准FFR领域 内中国首个获国家药监局批准的国产产品。截至2025年9月30日，公司累计向市场推出11个产品，在研产品共有6个，覆盖IVUS系统、FFR系统、血管通 路产品、冲击波球囊治疗系统及电生理解决方案五大产品类别。 拟于下周五（1月30日）申购的电科蓝天是国内宇航电源核心供应商，主营业务涵盖宇航电源、特种电源、新能源应用及服务三大板块。在商业航天卫星 电源系统领域，公司目前合作的客户包括中国卫星网络集团有限公司、中国东方红卫星股份有限公司、上海格思航天科技有限公司等国有单位，银河航天 （北京）科技有限公司、哈尔滨工大卫星技术有限公司、椭圆时空（北京 ...

长沙晚报掌上长沙1月25日讯（全媒体记者 刘军）根据相关安排，下周A股市场有3只新股可申购，分别 是沪市主板的林平发展，科创板的北芯生命与电科蓝天。其中，北芯生命周一申购，林平发展与电科蓝 天周五申购。 北芯生命是一家专注于心血管疾病精准诊疗创新医疗器械研发、生产和销售的国家高新技术企业，致力 于开发为心血管疾病诊疗带来变革的精准解决方案。公司核心产品血管内超声（IVUS）诊断系统为中 国首个获国家药监局批准的自主创新60MHz高清高速国产IVUS产品，核心产品血流储备分数（FFR） 测量系统为金标准FFR领域内中国首个获国家药监局批准的国产产品。据招股意向书，北芯生命计划公 开发行5700万股，拟募集资金9.52亿元用于介入类医疗器械产业化基地建设、介入类医疗器械研发、补 充流动资金。 北芯生命本次发行价格17.52元/股。业绩方面，公司预计2025年度营收为5.2亿元至5.6亿元，同比增长 64.24%至76.88%；预计归母净利润为7800万元至8800万元，同比增长278.91%至301.85%。 电科蓝天当前共有3大产品业务线，分别是宇航电源、特种电源、新能源应用及服务。公司表示，未来 将继续专注于 ...

新股精要—国内领先的精准 PCI 医疗器 械生产商北芯生命 ——IPO 专题 本报告导读： 北芯生命（688712.SH）是国内精准 PCI 领域领先的医疗器械生产商，核心产品打 破国际厂商垄断，有望受益于精准 PCI 渗透率提升和国产化替代进程。2024 年公司 实现营收/归母净利润 3.12/-0.44 亿元。截至 2026 年 1 月 19 日，可比公司对应 2024/2025/2026 年平均 PS 为 19.31/15.94/12.46 倍。 投资要点： 新股研究 /[Table_Date] 2026.01.20 | [Table_Authors] | 王政之(分析师) | | --- | --- | | | 021-38674944 | | | wangzhengzhi@gtht.com | | 登记编号 | S0880517060002 | | | 施怡昀(分析师) | | | 021-38032690 | | | shiyiyun@gtht.com | | 登记编号 | S0880522060002 | | | 王思琪(分析师) | | | 021-38038671 | | | wangsiq ...

Core Viewpoint - Shenzhen Beixin Life Technology Co., Ltd. is focused on innovative medical devices for precise diagnosis and treatment of cardiovascular diseases, aiming for an IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board after a failed attempt on the Hong Kong Stock Exchange [1][5]. Group 1: Company Background - Beixin Life was established in 2015 by a group of investors including Song Liang, who has over 18 years of experience in advanced medical imaging technology and cardiovascular interventional devices [2]. - The company transitioned from a limited liability company to a joint-stock company in June 2021 and submitted its prospectus for a Hong Kong IPO in August 2021, which ultimately failed [2][3]. Group 2: Financial Performance - Beixin Life has incurred cumulative losses of approximately 474 million yuan over the past three years, with revenues of 92.45 million yuan, 184 million yuan, and 317 million yuan for the years 2022, 2023, and 2024 respectively [16][18]. - The company’s net profit attributable to shareholders was -290 million yuan, -140 million yuan, and -43.6 million yuan for the same years, indicating ongoing financial struggles [16][18]. Group 3: Market Position and Competition - The company faces significant competition, with Boston Scientific and Philips dominating over 80% of the market for intravascular ultrasound (IVUS) systems, while Beixin Life holds a market share of 10.6% [11]. - In the blood flow reserve fraction (FFR) measurement system market, Beixin Life is the first domestic product approved by the National Medical Products Administration, with a projected market share of 29.5% in 2024 [14]. Group 4: Investment and Valuation - Beixin Life has undergone multiple funding rounds, with its post-investment valuation increasing from 54 million yuan in the Pre-A round to 5.043 billion yuan in the D round, reflecting a growth of over 90 times in five years [3]. - The company’s valuation has decreased to 4.8 billion yuan following a share transfer by foreign investor SpringHill, which sold its shares at 13.33 yuan each [5]. Group 5: Challenges and Risks - The company has high sales expenses, which accounted for 82.08%, 55.98%, and 34.61% of its revenue in the years 2022, 2023, and 2024, respectively, significantly higher than industry averages [19]. - Beixin Life is currently in a critical phase of commercialization and R&D, with a need to stabilize its R&D team and prevent talent loss, as evidenced by the departure of key personnel [23][26].

Core Points - Several securities firms, including CITIC Securities and Guosen Securities, have launched trading permissions for the Sci-Tech Innovation Growth Tier on their apps, requiring investors to have 500,000 yuan in assets and two years of investment experience to participate in upcoming IPOs and trading [1][4] - At least two companies have received IPO approval and are set to list on the Sci-Tech Innovation Growth Tier [2][8] - The Shanghai Stock Exchange has implemented a risk disclosure document for investors participating in the Sci-Tech Innovation Growth Tier, which must be signed before trading [3][5] Group 1 - Numerous securities firms have made the trading permission for the Sci-Tech Innovation Growth Tier available, with a total of at least 14 firms reported to have launched this feature by July 29 [4] - Investors must sign the "Risk Disclosure Document for Sci-Tech Innovation Growth Tier" to participate in new stock subscriptions and trading, ensuring they are aware of the associated risks [3][5][6] - The risk disclosure document highlights that companies in the growth tier may be unprofitable at the time of listing, and investors should be cautious about the uncertainties related to revenue and profitability [6][7] Group 2 - Two companies, He Yuan Biotechnology and Bei Xin Life, have successfully passed the IPO review process and are awaiting listing, with He Yuan Biotechnology already receiving its IPO approval [8] - There are three additional unprofitable companies in the IPO queue, with two having submitted registration applications and one in the inquiry stage [8] - Existing unprofitable listed companies do not require new trading permissions for participation in transactions [8]