根据市场公开信息及8月1日披露的机构调研信息，知名私募淡水泉近期对2家上市公司进行了调研，相 关名单如下： 机构简介： 淡水泉成立于 2007 年，是中国领先的私募证券基金管理人之一，专注于与中国相关的投资机会，同时 开展国内私募证券投资、海外对冲基金和QFII/机构专户业务。客户群体包括全球范围内的政府养老 金、主权基金、大学捐赠基金、保险公司等机构客户及高净值个人客户。公司以北京为总部，在上海、 深圳、香港、新加坡和美国设有办公室。 1）睿智医药 （淡水泉参与公司特定对象调研） 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 2）宏发股份 （淡水泉(北京)投资管理有限公司参与公司分析师会议&线上交流&电话会议） 调研纪要：2025年上半年，宏发股份实现了高质量的增长，多个业务领域实现高速增长，人均款达到 65.4万元，同比增长8.9%。毛利率受业务规模增长速度影响较大，人均效率持续提升推动毛利率逐步上 升。车载继电器产品质量优秀，高容量控制盒产品获得客户认可，巩固了市场地位。欧洲电动车渗透率 提升，公司有望持续受益，欧洲市场布局进 ...

上海高毅资产管理合伙企业（有限合伙）是国内投研实力较强、管理规模较大、激励制度领先的平台型 私募基金管理公司，专注于资本市场，致力于为优秀的投资经理配备一流的研究支持、渠道资源、品牌 背书、资本对接和运营维护，打造以人为本的企业文化和扁平化的组织架构，让优秀的投资经理专注于 投资，全力以赴地为投资者创造更佳的收益。高毅资产旗下汇聚了多位长期业绩优秀、市场经验丰富的 明星投资经理。目前投研团队超过30人，投资经理包括千亿级基金公司投资总监、股票型基金8年业绩 冠军、偏股混合型基金6年业绩亚军、公募基金十周年金牛奖特别奖得主、公募基金五年期金牛奖得 主、公募基金三年期金牛奖得主、私募基金三年期金牛奖得主、私募基金一年期金牛奖得主等，研究员 绝大多数来自于嘉实、易方达、南方、博时、鹏华、招商等一线基金公司，整体投研实力在业内处于领 先地位。由邱国鹭先生担任董事长，邓晓峰先生担任首席投资官，卓利伟先生担任首席研究官，孙庆瑞 女士、冯柳先生、王世宏先生担任董事总经理。高毅资产已经在中国证券投资基金业协会备案，注册地 在上海，团队分布在深圳、上海和北京。 1）宏发股份 （上海高毅资产管理合伙企业(有限合伙)参与公司分析师 ...

Group 1 - The core viewpoint of the news highlights that Chengquan Capital conducted research on Hongfa Technology, indicating strong growth in multiple business areas and a significant increase in per capita revenue [1] - Hongfa Technology achieved a per capita revenue of 654,000 yuan, representing a year-on-year growth of 8.9% [1] - The gross profit margin is positively influenced by the growth rate of business scale, with continuous improvement in per capita efficiency [1] Group 2 - The company has established a strong market position with its high-quality automotive relay products and has received recognition for its high-capacity control boxes [1] - The penetration rate of electric vehicles in Europe is increasing, which is expected to benefit the company, alongside a strengthened market presence in Europe [1] - The industrial relay segment has shown good recovery growth, with a favorable competitive landscape in the industry [1] Group 3 - The initial customer for the high-capacity control box was Toyota, and the company is actively expanding its customer base to leading domestic automotive manufacturers and battery factories, as well as exploring overseas markets [1] - Production bases in Indonesia and Germany have been put into operation, supported by a core management team with rich experience [1] - The relay business continues to consolidate its leading advantage, with new product categories expected to enter a rapid development phase [1] Group 4 - The order intake and backlog maintain a favorable outlook, with a stable global economic environment likely to sustain good market conditions [1]

根据市场公开信息及8月1日披露的机构调研信息，知名私募银叶投资近期对1家上市公司进行了调研， 相关名单如下： 1）宏发股份 （银叶投资参与公司分析师会议&线上交流&电话会议） 调研纪要：2025年上半年，宏发股份实现了高质量的增长，多个业务领域实现高速增长，人均款达到 65.4万元，同比增长8.9%。毛利率受业务规模增长速度影响较大，人均效率持续提升推动毛利率逐步上 升。车载继电器产品质量优秀，高容量控制盒产品获得客户认可，巩固了市场地位。欧洲电动车渗透率 提升，公司有望持续受益，欧洲市场布局进一步强化。工业继电器实现较好的恢复性增长，下游应用领 域分散，行业竞争格局较好。高容量控制盒最初客户为丰田，后续扩展至国内头部车厂、电池厂，积极 拓展海外市场。印尼、德国两大生产基地投入使用，核心管理团队经验丰富。继电器业务继续巩固领先 优势，新门类产品有望步入快速发展轨道。接单和在手订单维持较好景气度，全球经济环境稳定有望维 持良好景气度。 机构简介： 上海银叶投资有限公司成立于2009年2月，注册资本11800万元，是一家平台型、综合型专业资产管理机 构。公司总部设在上海，并在北京、杭州、深圳等城市设有分支机构。依 ...

Group 1: Shijia Photon - Shijia Photon has made progress in multiple business segments, including the mass production of MT-F products for 800G/1.6T optical modules [1] - The company has completed the R&D and verification of WG chips and components for 1.6T optical modules, and is advancing its MPO product expansion plan [1] - Inventory growth is attributed to strategic stocking of key raw materials and increased reserves of general materials and semi-finished products [1] Group 2: Hongfa Co., Ltd. - Hongfa Co., Ltd. achieved high-quality growth in the first half of 2025, with a per capita revenue of 654,000 yuan, an increase of 8.9% year-on-year [2] - The company has strengthened its market position with high-quality automotive relays and has expanded its customer base to include major domestic automakers and battery manufacturers [2] - The company is expected to benefit from the increasing penetration of electric vehicles in Europe, with its production bases in Indonesia and Germany now operational [2] Group 3: Pengyang Fund - Pengyang Fund, established in 2016, has an asset management scale of 141.92 billion yuan, ranking 48th out of 210 in total public funds [3] - The fund has 183 public funds under management, ranking 37th out of 210, and has 24 public fund managers, ranking 58th out of 210 [3] - The best-performing public fund product in the past year is Pengyang Beizheng 50 Index A, with a net value of 1.41 and a growth of 74.31% over the past year [3]