Core Viewpoint - The report outlines the continuous supervision and guidance provided by Guotou Securities for Jiangsu Zhongxinbo New Energy Technology Co., Ltd. during its A-share issuance, emphasizing compliance with regulations and the company's operational integrity [1][2]. Continuous Supervision Work - Guotou Securities has established a comprehensive supervision system and signed a continuous supervision agreement with Zhongxinbo, detailing rights and obligations during the supervision period [1]. - The supervision includes regular communication, site inspections, and due diligence to ensure compliance with laws and regulations [1][2]. - The report highlights that no violations or breaches of commitments have been reported during the supervision period [2][3]. Financial Performance - For the first half of 2025, Zhongxinbo reported a revenue of CNY 403.65 million, a 19.55% increase from the previous year, while net profit attributable to shareholders decreased by 31.79% to CNY 15.78 million [5][6]. - The company's total assets were CNY 985.55 million, showing a slight decrease of 0.68% compared to the previous year [5]. - The basic earnings per share dropped by 57.56% to CNY 0.73, and the return on equity decreased by 4.3 percentage points to 3.61% [5][6]. Research and Development - Zhongxinbo increased its R&D expenditure by 35.07% to CNY 10.27 million, representing 2.54% of its revenue, indicating a focus on innovation [6][7]. - The company has a strong R&D team of 343 members, with 765 intellectual property rights, including 119 invention patents [6][7]. Market Position and Strategy - Zhongxinbo ranks second globally in the solar PV tracker market, according to Wood Mackenzie, solidifying its position as a leading player in the sector [7]. - The company is committed to a global strategy, enhancing its supply chain and expanding its market presence in Asia-Pacific and the Middle East [7]. Risk Factors - The company faces risks related to performance volatility due to global trade policies, competition, and macroeconomic uncertainties [3][4]. - Exchange rate fluctuations and international logistics challenges are also identified as potential risks impacting the company's operations [3][4].

证券研究报告·公司点评报告·光伏设备 中信博（688408） 2025 年一季报点评：在手订单充沛，海外优 势突出 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 6,390 | 9,026 | 11,255 | 13,775 | 16,405 | | 同比（%） | 72.59 | 41.25 | 24.69 | 22.39 | 19.10 | | 归母净利润（百万元） | 345.04 | 631.52 | 832.75 | 1,059.09 | 1,282.01 | | 同比（%） | 676.58 | 83.03 | 31.86 | 27.18 | 21.05 | | EPS-最新摊薄（元/股） | 1.58 | 2.89 | 3.81 | 4.85 | 5.87 | | P/E（现价&最新摊薄） | 29.47 | 16.10 | 12.21 | 9.60 | 7.93 | [Table_Tag] [T ...