Group 1: IPO Market Overview - In the past week (July 28 - August 3, 2025), seven companies submitted IPO applications in the Hong Kong market, including YunTianLiFei (688343.SH), XinWangDa (300207.SZ), and DanNuo Pharmaceutical [3][4] - Two companies passed the Hong Kong Stock Exchange hearing: TianYue Advanced (688234.SH) and YinNuo Pharmaceutical [3][4] - One new company, ZhongHui Biological (02627.HK), initiated its IPO process, with no companies successfully listed during this period [3][4] Group 2: ZhongHui Biological - ZhongHui Biological officially launched its IPO on July 31, 2025, with a global offering of 33.4426 million shares, priced between HKD 12.90 and HKD 15.50 per share [3][17] - The expected listing date on the Hong Kong Stock Exchange is August 8, 2025 [3][17] - The company has secured cornerstone investors who agreed to subscribe for shares totaling approximately HKD 102 million [17][19] Group 3: YunTianLiFei - YunTianLiFei is a leading AI company in China, focusing on the research, design, and commercialization of AI inference chips [6] - The company ranks among the top three providers of AI inference chip-related products and services in China, based on revenue statistics for 2024 [7] - For the three months ending March 31, 2025, YunTianLiFei reported revenue of RMB 264 million, a year-on-year increase of 168.2%, but incurred a net loss of RMB 85.801 million, a decrease of 37.9% year-on-year [8] Group 4: XinWangDa - XinWangDa, a global leader in lithium battery technology, aims to provide integrated solutions for green and efficient energy [8] - The company has a diverse product matrix, including energy storage systems, consumer batteries, and power batteries [8] - For the three months ending March 31, 2025, XinWangDa recorded revenue of RMB 12.289 billion, a year-on-year increase of 12.0%, and a 21.3% increase in profit attributable to shareholders [9] Group 5: DanNuo Pharmaceutical - DanNuo Pharmaceutical is a biotechnology company focused on discovering, developing, and commercializing innovative drug products for bacterial infections and related diseases [10][11] - The company has established a pipeline of seven innovative assets, with no products currently approved for commercial sale [12][14] - For the three months ending March 31, 2025, DanNuo reported a net loss of RMB 38.011 million, an increase of 36.4% year-on-year [14] Group 6: TianYue Advanced - TianYue Advanced is a leading manufacturer of wide bandgap semiconductor materials, focusing on the research and industrialization of silicon carbide substrates [15] - The company ranks among the top three global manufacturers of silicon carbide substrates based on sales revenue for 2024 [15] - For the three months ending March 31, 2025, TianYue reported revenue of RMB 408 million, a year-on-year decrease of 4.2%, and a net profit of RMB 8.518 million, a decrease of 81.5% year-on-year [16] Group 7: YinNuo Pharmaceutical - YinNuo Pharmaceutical is a science-driven biopharmaceutical company focused on providing innovative and affordable high-quality drugs for metabolic diseases [16] - The company has developed a pipeline of candidate drugs targeting diabetes and other metabolic diseases, including a core product for treating obesity and related conditions [16] - For the five months ending May 31, 2025, YinNuo reported revenue of RMB 38.144 million, with a net loss of RMB 97.875 million, an increase of 58.1% year-on-year [16]

3. 据港交所7月30日披露，云天励飞向港交所主板递交上市申请。招股书显示，公司将对AI算法及实际 应用场景的深度理解融入到使用AI推理计算的强大且高性价比的应用，推出面向企业级、消费级、行 业级三大类应用场景的行业领先的NPU驱动AI推理芯片相关产品及服务，实现AI多元场景快速迁移。 【机构观点】 东方证券认为，AI 功能加入，持续推动手表智能化及高端化。AI 应用正在智能手表中逐步落地，在交 互方式上，智能手表搭载 AI 语音助手功能，大幅提升用户交互体验；在健康/运动体验上，AI 显著提 升健康/运动监测的智能化程度以及专业性，响应用户需求；在儿 童智能手表领域，AI 能为儿童安全赋能。AI 应用有望驱动高端智能手表需求成长。 【热门ETF】 【市场复盘】 本周三(7月30日)，科创人工智能ETF华夏(589010)收跌0.98%，仍稳居五日均线上方，跌幅或可看作对 前几个交易日大涨的技术性消化。持仓股方面，奥普特领跌7.71%，天准科技、寒武纪、星环科技、奥 比中光跌幅超3%。机器人ETF(562500)收跌1.44%，近一周板块走势不温不火，叠加昨日再回调近 1.5%，左侧布局机会或已显现。持仓股方 ...