Group 1 - Yongda Automotive shows strong recovery potential in luxury car dealership performance, supported by cash flow and dividend yield attractiveness [1] - The company benefits from BMW's support in new car gross profit, alongside the clearing of inefficient dealerships in the luxury car sector [1] - The new energy business is expected to contribute significantly, with a projected net cash flow exceeding 1.1 billion yuan in the first half of 2025 [1] Group 2 - Tianzhun Technology's core business is experiencing strong growth, but the industry faces cost pressures due to memory shortages [2] - The company focuses on intelligent driving and embodied intelligence, with significant growth momentum [2] - The shortage of high-end DDR5 memory and rising DRAM prices are impacting the cost structure for automotive manufacturers [2] Group 3 - Longsheng Technology has significant untapped potential in the commercial aerospace sector, with its subsidiary positioned in precision welding components [3] - The traditional business remains a core pillar of performance, while the robotics segment has clear long-term growth logic [3] - Yinxun shares are expected to see substantial market value elasticity due to the data center liquid cooling module as a core growth driver [3] Group 4 - Fuda shares have issued convertible bonds, signaling positive developments, with strong performance expected in 2026 due to scarce production capacity [3] - The company is involved in the drafting of national standards for robotic components, with overseas client validation progressing [3] - Tiancheng Self-Control is positioned as a key player in the low-altitude economy, with significant market share potential as the industry matures [3]

Investment Rating - The report maintains a positive outlook on the automotive industry, indicating an "Overweight" rating, suggesting that the industry is expected to outperform the overall market [2][12]. Core Insights - Yongda Automotive shows strong recovery signals with cash flow and dividend yield attractiveness, benefiting from support from manufacturers like BMW, and is expected to see significant performance improvements in 2025 [3]. - Tianzhun Technology's core business is experiencing robust growth, but the industry faces cost pressures due to memory shortages, particularly in high-end DDR5 memory [4]. - Longsheng Technology has significant untapped potential in the commercial aerospace sector, with a solid market position in satellite components and a clear growth trajectory in its robotics business [5]. - Yinlun Technology is positioned to benefit from the growth of data center liquid cooling solutions, with expected significant market elasticity by 2027 [5]. - Fuda Co., Ltd. has issued convertible bonds, indicating positive signals for business certainty and valuation support, with a focus on expanding production capacity [6]. - Tiancai Control is strategically positioned in the low-altitude economy, with ongoing efforts to secure key clients and certifications, which could lead to substantial market share gains [6]. Summary by Relevant Sections Yongda Automotive - The company is a key dealer for BMW, showing strong recovery signals with a projected net cash flow exceeding 1.1 billion yuan in the first half of 2025, supported by manufacturer subsidies and a reduction in inefficient dealerships [3]. Tianzhun Technology - The company focuses on intelligent driving and embodied intelligence, with strong growth momentum, but faces challenges from memory supply shortages impacting vehicle production costs [4]. Longsheng Technology - The company has significant growth potential in the commercial aerospace sector, with a strong foothold in satellite components and a clear growth strategy in its robotics business [5]. Yinlun Technology - The company is focusing on data center liquid cooling modules, with expectations for significant market growth by 2027, while also being a key supplier in the robotics sector [5]. Fuda Co., Ltd. - The issuance of convertible bonds at a conversion price of 17.5 yuan signals positive business prospects, with a focus on expanding production capacity and addressing market concerns regarding client structure [6]. Tiancai Control - The company is well-positioned in the low-altitude economy, actively working on client acquisition and technical certifications, which could lead to significant market share in the future [6].

Market Overview - The automation equipment sector experienced a decline of 2.05% on January 20, with Hongxun Technology leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] Stock Performance - Notable gainers in the automation equipment sector included: - Zhili Fang (301312) with a closing price of 55.99, up 3.46% [1] - Shuangyuan Technology (688623) at 112.98, up 2.48% [1] - Tianzhun Technology (688003) at 67.22, up 1.60% [1] - Major decliners included: - Hongxun Technology (603015) at 14.71, down 9.20% [2] - Buke Co. (688160) at 148.99, down 6.87% [2] - Jieput (688025) at 135.89, down 6.77% [2] Capital Flow - The automation equipment sector saw a net outflow of 2.591 billion yuan from institutional investors, while retail investors had a net inflow of 1.757 billion yuan [2][3] - The top stocks by net inflow from institutional investors included: - Tianzhun Technology (688003) with a net inflow of 35.53 million yuan [3] - Tiaohui Co. (688529) with a net inflow of 35.04 million yuan [3] - Lvdihuanbo (688017) with a net inflow of 34.19 million yuan [3]

（编辑 王雪儿） 证券日报网讯 1月16日，天准科技发布公告称，公司第四届董事会第二十七次会议审议通过《关于调整 募集资金投资项目拟投入募集资金金额的议案》《关于使用募集资金置换预先投入募投项目及已支付发 行费用的自筹资金的议案》《关于使用部分募集资金向子公司提供借款以实施募投项目的议案》等多项 议案。 ...

证券日报网讯 1月16日，天准科技发布公告称，公司2026年1月16日召开第四届董事会第二十七次会 议，审议通过了《关于调整募集资金投资项目拟投入募集资金金额的议案》，同意公司根据向不特定对 象发行可转换公司债券募集资金的实际情况，对募集资金投资项目拟投入募集资金金额进行调整。 （文章来源：证券日报） ...

| 证券代码：688003 | 证券简称：天准科技 | 公告编号：2026-008 | | --- | --- | --- | | 转债代码：118062 | 转债简称：天准转债 | | 关于使用部分暂时闲置募集资金进行现金管理的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 已履行及拟履行的审议程序：苏州天准科技股份有限公司（以下简称 "公司"）于 2025 年 1 月 16 日召开第四届董事会第二十七次会议，审议通过 了《关于使用部分暂时闲置募集资金进行现金管理的议案》，保荐人华泰联合 证券有限责任公司（以下简称"保荐人"）发表了核查意见。该事项在董事 会审批权限范围内，无需提交股东会审议。 特别风险提示：本次现金管理方式是购买安全性高、流动性好的投资 产品（包括但不限于结构性存款、协定存款、定期存款、通知存款、大额存 单等），该类投资产品受货币政策等宏观经济的影响，公司将根据经济形势以 及金融市场的变化适时、适量地介入，但不排除收益将受到市场波动的影响。 一、现金管理情况概述 （一）目的 为提高募集 ...

关于苏州天准科技股份有限公司 使用部分闲置募集资金临时补充流动资金的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）作 为苏州天准科技股份有限公司（以下简称"天准科技"或"公司"）向不特定对 象发行可转换公司债券并在科创板上市持续督导阶段的保荐人，根据《证券发行 上市保荐业务管理办法》《上市公司募集资金监管规则》《上海证券交易所科创板 股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范 运作》等相关法律法规和规范性文件的规定，对天准科技使用部分闲置募集资金 临时补充流动资金事项进行了审慎核查，并发表本核查意见，具体情况如下： 华泰联合证券有限责任公司 一、募集资金基本情况 | 发行名称 | 2025 | 年向不特定对象公开发行可转换公司债券 | | --- | --- | --- | | 募集资金总额 | 87,200.00 | 万元 | | 募集资金净额 | 86,227.76 | 万元 | | 募集资金到账时间 | 2025 年 12 | 月 18 日 | | 前次用于暂时补充流动资金的 | 不适用 | | | 募集资金归还日期及金额 | | | 根据中国 ...

华泰联合证券有限责任公司 关于苏州天准科技股份有限公司 使用部分募集资金向子公司提供借款以实施募投项目的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）作 为苏州天准科技股份有限公司（以下简称"天准科技"或"公司"）向不特定对 象发行可转换公司债券并在科创板上市持续督导阶段的保荐人，根据《证券发行 上市保荐业务管理办法》《上市公司募集资金监管规则》《上海证券交易所科创板 股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范 运作》等相关法律法规和规范性文件的规定，对天准科技使用部分募集资金向子 公司提供借款以实施募投项目事项进行了审慎核查，并发表本核查意见，具体情 况如下： 一、募集资金基本情况 根据中国证券监督管理委员会出具的《关于同意苏州天准科技股份有限公司 向不特定对象发行可转换公司债券注册的批复》（证监许可〔2025〕2266 号），同 意公司向不特定对象发行可转换公司债券（以下简称"本次发行"）的注册申请。 公司向不特定对象发行 87,200.00 万元的可转换公司债券，期限为六年，每张面 值为人民币 100 元，发行数量为 87.20 万手（872 ...

华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）作 为苏州天准科技股份有限公司（以下简称"天准科技"或"公司"）向不特定对 象发行可转换公司债券并在科创板上市持续督导阶段的保荐人，根据《证券发行 上市保荐业务管理办法》《上市公司募集资金监管规则》《上海证券交易所科创板 股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范 运作》等相关法律法规和规范性文件的规定，对天准科技使用募集资金置换预先 投入募投项目及已支付发行费用的自筹资金事项进行了审慎核查，并发表本核查 意见，具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会出具的《关于同意苏州天准科技股份有限公司 向不特定对象发行可转换公司债券注册的批复》（证监许可〔2025〕2266 号），同 意公司向不特定对象发行可转换公司债券（以下简称"本次发行"）的注册申请。 公司向不特定对象发行 87,200.00 万元的可转换公司债券，期限为六年，每张面 值为人民币 100 元，发行数量为 87.20 万手（872 万张）。本次发行的募集资金总 额为人民币 872,000,000.00 元，扣除发行费用 9,722, ...

关于苏州天准科技股份有限公司 以自筹资金预先投入募集资金投资项目和 支付发行费用的鉴证报告 BI J 中国杭州市钱江新城新业路 8 号 UDC 时代大厦 A 座 5-8 层、12 层、23 层 Floors5-8,12and23,Block A,UDC Times Building,No.8 Xinye Road. Qianjiang New City,Hangzhou Tel.0571-88879999 Fax.0571-88879000 www.zhcpa.cn 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.moc.gov.cn）" 您可使用手机"扫一扫"或进入"注册会计师行业统一监督平台（http://acc.mof.gov.cn）"进 酮史压 目 录 | | | 远 | | --- | --- | --- | | 、 | 以自筹资金预先投入募集资金投资项目和支付发行费用 | | | | 的鉴证报告 | 1-2 | | | 以自筹资金预先投入募集资金投资项目和支付发行费用 | | | | 的专项说明 | 3-5 | 中因杭州市钱江新城新业路8号UDC时代大厦A座5-8层 ...