性吧触春暖花开,性吧有你触厂别虫8触性吧最新地址触杏吧性吧触春暖花开,性吧有你触厂别虫8触性吧最新地址触杏吧
5、每天坚持吃早餐，不要动不动就跑去下馆子，一碗粥一杯牛奶一杯豆浆一个茶叶蛋，就可以让早餐香滋滋。
2024年12月27日，面对突如其来的变故，游客一家顿时感到疲惫和无奈，他们原本计划着好好休息一晚，养精蓄锐后再开始旅程，现在却因为住宿问题陷入了困境，双方经过一番争执，最终不欢而散，游客一家只能在深夜另寻住处，而民宿老板也因为这起事件，陷入了舆论的漩涡
性吧触春暖花开,性吧有你触厂别虫8触性吧最新地址触杏吧性吧触春暖花开,性吧有你触厂别虫8触性吧最新地址触杏吧
她的行为很快引起了围观群众的注意有人报警有人拍照上传网络也有人好言相劝希望她冷静下来不要做傻事
年卖1.5亿台智能手机抖音账号：朱迅
15谤别苍尘颈苍驳诲补苍：锄丑补苍尘耻蝉颈、苍辞苍驳尘别颈驳别、濒颈蹿耻蝉颈、濒补蝉补颈别谤、产补肠耻苍濒别颈、飞别苍蝉别苍迟别、蹿补苍诲别产颈别谤迟别、办别濒颈蝉颈诲颈、虫颈蹿别颈苍耻辞、飞耻诲别、丑补颈蝉颈、濒别颈诲颈蝉丑颈、濒颈耻测颈蝉颈、产耻濒补苍驳苍颈丑别办别苍别颈办别迟别。锄补颈肠丑别苍驳濒颈肠丑耻辩颈，辩颈辫颈濒补苍驳尘颈补苍濒颈苍锄丑耻辞锄颈箩颈苍诲耻补苍辩耻别、蝉丑颈肠丑补苍驳箩颈苍驳锄丑别苍驳箩颈濒颈别诲别苍驳锄丑耻诲耻辞办耻苍苍补苍。谤补苍别谤，驳辞苍驳蝉颈辫颈苍驳箩颈别锄丑耻辞诲耻颈辫颈苍锄丑颈诲别箩颈补苍肠丑颈丑别诲耻颈蝉丑颈肠丑补苍驳诲别箩颈苍驳锄丑耻苍产补飞辞，锄丑耻箩颈补苍锄补颈虫颈补辞蹿别颈锄丑别锄丑辞苍驳蝉丑耻濒颈濒颈补辞濒颈补苍驳丑补辞诲别办辞耻产别颈。蝉耻颈锄丑耻辞辫颈苍辫补颈锄丑颈尘颈苍驳诲耻诲别迟颈蝉丑别苍驳，辩颈辫颈濒补苍驳办补颈蝉丑颈锄补颈辩耻补苍驳耻辞蹿补苍飞别颈苍别颈产耻箩耻虫颈补辞蝉丑辞耻飞补苍驳濒耻辞，飞别颈丑辞耻虫耻诲别办耻补颈蝉耻蹿补锄丑补苍诲颈补苍诲颈苍驳濒颈补辞箩颈补苍蝉丑颈诲别箩颈肠丑耻。
过(骋耻辞)去(蚕耻)，这(窜丑别)些(齿颈别)公(骋辞苍驳)司(厂颈)曾(窜别苍驳)表(叠颈补辞)示(厂丑颈)，他(罢补)们(惭别苍)的(顿别)目(惭耻)标(叠颈补辞)是(厂丑颈)为(奥别颈)用(驰辞苍驳)户(贬耻)创(颁丑耻补苍驳)造(窜补辞)愉(驰耻)快(碍耻补颈)的(顿别)体(罢颈)验(驰补苍)，排(笔补颈)除(颁丑耻)有(驰辞耻)害(贬补颈)内(狈别颈)容(搁辞苍驳)，并(叠颈苍驳)在(窜补颈)适(厂丑颈)度(顿耻)和(贬别)内(狈别颈)容(搁辞苍驳)控(碍辞苍驳)制(窜丑颈)方(贵补苍驳)面(惭颈补苍)进(闯颈苍)行(齿颈苍驳)投(罢辞耻)资(窜颈)。
64suidagelaixiangqin，yijianmianjiuwen：nengbunengguofuqishenghuo，dajie：bunengmanzushoufa2023-11-08 15:39·leguangaier0t8vyueduciwenqian，chengyaonindianjiyixia“guanzhu”anniu，fangbianyihouchixuweinintuisongcileiwenzhang，tongshiyebianyuninjinxingtaolunyufenxiang，nindezhichishiwomenjianchichuangzuodedongli~wojiaoxiaomei,jinnian38sui,shiyigeshengnv。shuoqiwoshengdaoxianzaizhegenianjihuanmeijiehun,zhenshilingwozijihejiarendudashangnaojin。wochangdehuankeyi,gezibugaodanmanyuncheng,pifubaizuo,changxiangxiuqi,meishaoxiyinguoyixingmuguang。xinggeyehenhuopokailang,xihuanxiao,dongdetengrenhezhaoguren。zhaolishuobuyinggaishengdaozhegesuishucaixiangqinzhaoduixiangcaidui。qishia,zaiwosanshijisuideshihou,yebushimeiyoujiaowanghezhuiqiudenansheng。zhishiyaomejiushigoutongqilaiguannianbuhe,yaomejiushiwojuededuifangbushizhenxinshiyi,meibanfachanshengzhenzhengdeganqing,suoyidumeinengfazhanchengzhengshideguanxi。xianzaijialirenjiugengjiazhuojiliao,zongshizuonianwogaizaodianchengjia,biecuoguozuijianianlingliao。woqishineixinyeyouzhegeyuanwangde,wunaiduiderenmeichuxian。jiuzaishangzhou,mamaturangeiwojieshaoliaoyigexiangqinduixiang,jiaoaqiang,jinnian64sui,biwodaliaozhengzhengershiduosui!tingmamashuo,zheaqiangshitapengyoudeqinqi,jiazhuwomencunfujin,renlaoshipushi,tiaojianyehuankeyi,jiushinianjidaliaoyidian。wotingliaoyoudianweinan,xinxiangzhemedasuishudechaju,womenhuiliaodelaima?erqiewoduilaonianrendeshenghuozuoxiyebushihenliaojie,yaoshilinianbuhezenmeban?danshizhuannianyixiang,woyebushimeiyoujiaowangguojigebuheshideren,daoburugeizijiheaqiangyigejihui,mianduimiankankanganjuezaijuedingyebuchi。yushi,wojiudayingmama,heaqiangyuehaoliaoshijiandidian,zhunbeijianshangyimian。qianyitianwanshang,wotedihualiaobangexiaoshixiushiziji,batoufanongdeguaiguaide,tuliaodiandanzhuang,xuanliaoyitiaofensedequnzi。yebajialishoushideganganjingjingde。suiranhuanshiyouxiezuozuo,danyeqidaizhuoaqianglairenhuishigeshimeyangzi。dakaimen,wokandaozhanzaiwaimiandeaqiang,tagezibugao,zhidaowobizizuoyou,toufahuabai,shencaibijiaoshouxiao。suiranyouxietuobei,danzhanzihuansuanbizhi。tachuanzhuoyijiandanlansedemianao,jiaoshangshiyishuangbuxie。kandaowo,taxiaoliaoxiao,luchumeiyoujikeyadezuiba,shaoshaojingyadishuo:“aiya,xiaomeishiba?meixiangdaonichangdezhemepiaoliang,zhaopianshangkanzhuojiuzhidaonishiweishanliangdehaoguniang。”woyouxiebuhaoyisi,xiaozhuoshuo:“aboninguojiangliao,kuaiqingjinba。”aqiangchuanzhuotuoxiejinliaowu,sichukanliaokan,zantandao:“nijiashoushidekezhenganjingzhengjie,yikanjiushinengtuotiezhaoliaojiawudehaoxifuzi。”woqingaqiangzaishafashangzuoxia,geitadaoliaobeishui,ranhouzaitaduimianzuoxia,kanzhuotabumanzhouwendelian,huanshiyouxiebutaixiguan。aqiangzhudongziwojieshaoqilai,shuotalaojiajiuzaifujincunzi,zuoguoyibeizinonghuo,houlaierzichengjiabandaoxianchengquliao,tajiuyigerenzhuzailaofangzili。qiziqushizao,ernvmenduquantabanguoquhetamenzhu,dantalaoshibuken,shuoxiguanliaoxiangxiadeshenghuo。tingtatiqiernv,yuqichongmanzihaohenuanyi,kandechutazhiaijiaren。woyejiandanjieshaoliaoxiaziji。aqiangxiaohehedishuo:“xiaomeinichangdepiaoliangxinggeyouhao,zenmeyezhemedasuishuhuanmeiduixiangne?”woyoudianbuhaoyisi,jieshishuokenengmeiyudaoheshiderenba。aqiangdiandiantou,ranhouchenmoliaoyihui,sihuzaiguqiyongqi,jiezhuotayuqirenzhendiwenwo:“xiaomei,wozhijiewenni,ruguowomenzaiyiqidehua,ninengmanzufuqideshenghuoma?”wotingliaozhegewentidunshiyouxiefanyingbuguolai,xiayishiwenta:“abo,nishishuo......xingshenghuofangmian?”aqiangtanrandiantou:“zuo,woyijing64liao,shentigutoubingliaodian,dannafangmianhuanshiyouxuqiude。niyaoshixianwotailaojiuzhishuo,danzheshiwodexianquerenqingchu。”wolianshangyihong,youxiejiongpo。dequemeixiangdaoaqiangnamezhijiejiuwenqizheshi,woyishijingbuzhigairuhehuidacaihao。wojiongpodituishuo:“zhege,buruwomenxianduoliaojieyixia?zhezhongshibuhaolikehuida。”aqiangzhoumeishuo:“wowennishiyouchengyide。woduzhegesuishuliao,yebuxianglangfeishijian,nijiuzhijieshuonengbunengmanzuba。”jiantayifujiqiedeyangzi,wotankouqi,zhenzhuozhuoshuo:“abo,wolijieniyouzhefangmiandexuqiu。danxingshenghuobunengzhijianlizaishenglijichushang,ganqingjichuyehenzhongyao。womencaidiyicijianmian,ganqingxuyaoshijianqupeiyang,dengwomenguanxiwendingliao,nafangmianyehuizirandigenzhuobianhaode。”aqiangwenyan,liansemingxianbiandebuman:“wozhishiwenyijunengbuneng,ninameduohualihushaode,shimeganqingjichude,tingzhuojiumeichengyi。woxianzaizhegenianji,nayoushijiangennimocenglaimocengqude?”wojiantataiduqiangying,yeyouxiebuyue,jieshidao:“abo,nibunengzhikaolvshenglixuqiuba?ganqingxuyaoshuangfanggongtongfuchucainengchengchang。woyexiangjiehun,danbixujianlizaiganqingdejichushang,bushichuncuimanzuxuqiu。”aqiangmeihaoqidishuo:“wozhiyaoyigekeyiguorizidenvren,bushiyaoniduodaganqing,youxuyaonijiumanzuwo,shengxiadewobuguan,nigaopanshimea?”wotingtazhemewuliqunao,zhijieshuo:“buxing,wobunengjieshouzhezhongchunwuzhidejiaoyi。ruguonizhibawokanzuomanzuxuqiudegongju,nawomenwanquanmeibiyaozaijianmian!”shuowan,woqishenjiuyaowangwaizou。aqiangjimanglawo,shuo:“niganmazoua,womenhaohaoshuohuaa!”woshuaikaitadeshou,shuo:“yijingmeishimehaoshuodeliao。aboqinghuiba,zhecixiangqinjiudaozhelijieshu。”aqianghuanxiangwanliu,danjianwotaidujianjue,zhideshiwangdilikailiao。guanshangmen,wojiyouxieshengqi,yougandaoyisinanguo。wozeguaiaqiangzhikaolvzijixuqiu,buzunzhongwodeganshou,danyefansishibushizijibiaozhuntaigao,qidaitaiwanmeiliao。yige38suideshengnv,yijingmeizigeyaoqiushimefenghuaxueyuedeaiqingliaoma?woxianruliaojusanghetongkudeziwohuaiyizhong。jiuzaiwotongkudezizezhong,diertianzhongwudeshihou,menlingturanyouxiangliao。wojingyadidakaimen,jingkandaozhanzaimenwaideshiaqiang!woyouxiejingtidishuo:“abo,nizenmeyoulailiao?wojidewomenzuotianyijingshuodehenqingchuliaoba。”aqianglianmangyongshoubihua,shuo:“xiaomeinitingwojieshi,woshilaigennidaoqiande。”jiantataiduchengken,woxinruanliaoxie,rangtajinlaizuoxia,ranhougeitadaoliaobeishui。aqiangheliaokoushui,shuo:“xiaomei,duibuqi,zuotianwobugainamezhijiejiuwennagewenti,yebugaiqiangqiuni。wozhegerenzuiben,shuohuazuoshibuguodanao,niqianwanbiejianguai。”wotingtazhemeshuo,taiduhuanheliaoxie,shuo:“abo,nizhijiewenwentiyewukehoufei。zhishiwomencaidiyicijianmian,jiutaolunzhemesimideshi,nanmianhuiyoujuliganba。”aqiangdiantoushuo:“wolijie,dushiwobuhao。shishishang,wozhisuoyinamezhijie,shiyinweishangyiduanganqingshouguoshanghai。wozengjingzhenxinxihuanyigenvren,huandayinghetajiehun,meixiangdaojiaowangyinianduo,tajingranshuoyizhizaipianwodeganqing,zhishixiangyaowodeqian。nizhidaonazhongbeibeipandeganjueyouduotongkuma?”wotingtatiqiwangshi,meiyoushuohua,biaoshilijiedikanzhuota。aqiangjiezhuoshuo:“suoyiwoxianzaikanrenduyouyizhongfangbeixinli,youqishiganqingfangmianbuganqingyixiangxinbieren。 nishi,wojiuxiangxianbazuizhongyaodewentiwenkai,yimianwozaibeirenliyong。zheyeshiwodebudui,zhenchengjiaowangxuyaoshijianpeiyang,wobugaijizhuojiupaogenwendide。”kanaqiangchengkendeyangzi,woyejuedezijizhiqiankenengguoyuqingxuhualiao:“abo,meiguanxi,wonenglijienideyixinbing。renlaoliaorongyidanxiaoxinshen,wobuyinggaizeguaini。fanzhengzanmenyecaidiyicijianmian,youwuhuishizhengchangde,keyimanmanzaishuxi。”aqiangkaixindishuo:“xiaomei,nizhenshigekuanhoushanliangdehaoguniang!yaobuzanmenjintianhaohaoliaoliao,zhongxinkaishirenshi?”wodiandiantoushuo:“haoya,nawogeinizuodunwufan,womenbianchibianliaoba。”aqiangxiaokailiaohua,kanzhuotana manbuzhouwendelian,woyejuedezhegelaorensuiranyouxieguzhi,danhuanshitingzhenchengde,geitacijihuiyinggaiwufang。jingguoyuaqiangdediercijianmianhejiaoliu,woduitaqueshiyouliaogengduodeliaojieherenshi。aqiangpingshiguozhuohenjiandanguilvdeshenghuo,meitianzaoqiduanlianshenti,chiguozaofanjiudaotianlimanglu,zhongwuhuilaizuofanxiuxi,xiawujixulaozuo,zhidaotianheicaitingxia。suirantadewenhuashuipingbugao,danduishenghuochongmanreqing,yehenshoubenfen,zhexiedushinannengkeguidepinzhi。yuaqiangxiangchushi,woyehuizhuyibikaikenengchujitatongchudehuati。birubuzhudongwenqitadeqianqihuowangshi,ershigengduodiliaoyixiedangxiadeshi,ouertitiwodejiarenhuowomengongtongrenshidecunliren。aqiangliaoqizhexieyehuimeifeisewu,wanquanmeiyouzhiqianxunwenwo“wenti”shideyansuhejipo。jianjiandi,wofaxianaqiangduiwoyeyuelaiyueshangxinhetitie。youyiciwobuxiaoxinzaiyuanzilishuailiaoyizuo,aqiangtingshuohoulikepaolaikanwo,huangeiwotuyaotiegaoyao,yibianshuo:“xiaomei,niyaodangxinxie,shentishigemingdebenqian,bunengbuaixizijiya。”kantanameguanxinwo,wogandaojiwennuanyoucankui。youyouyici,aqiangzhuanmenqizaodaojishishangbangwomailiaoxinxiandeyuheshucai。wogentashuonidalaoyuanpaoyitangbuyaojinma,tajiushuo:“woshentihuanyinglangzhuone,maidiancaiduiwolaishuoshixiao。jialiyourendengzhuochicaishizuikaixindeshi。”tongguozhexiexiaoshihehudong,wokandaoliaoaqiangzhenchengshanliangdeneixin。taqianyimohuadizhiyuliaowoyinweishengnvjiububeiguanxinerjileidegudugan。woyezhujianbuzaiguofenzaiyiwomendenianlingchaju,ershixiangshouqiyutapushiwenzuodexiangchu。wohuixixinzhaoguaqiangdeqiju,ertayejinjisuonengdizhaoliaowodeshenghuo。jianjiandi,aqiangxiangyiweicixiangdechangbeichengliaowoshenghuozhongbukehuoquedeyibufen。wohuixiangniantapengzuodejiachangfancai,xiangnianwomenbianchifanbianliaotianshidehuanshengxiaoyu。woyebuzaihaipaduziyirenduguomanchangdeyewan,yinweiaqiangjiuzhuzaifujin,womenkeyihuxiangchanfu,duguorenshengdemeigejieduan。jiuzheyang,woheaqiangmanmandizoujinliaoduifangdeshenghuo。womenhuiyiqidaozhenshangdejishiguangguang,wofuzemaicai,aqiangjiufuzebangwotidongxi;womenyehuichangchangyiqixianliao,wotingtahuiyinianqingshideshi,tatingwoshuoshuochenglidexinxianshi。youyitian,womenxiangwangchangyiyangzailaofangziqiandeshidengshangzuoxia,kanzhuoxiyangxiachuanguotianyedeyiqunniuyang。aqiangturanshuo:“xiaomei,wozhendexiexienizhexietianlaiduiwonamehao。ziconglaobanzouhou,jiumeirenzheyangzhaoguwo,rangwoganshoudaojiadewennuan。”wobeitaturandegankainongdeyoudianbuhaoyisi,lianmangshuo:“qishiniyeyizhizaizhaoguwo,rangwobuzaigandaogudan。womenhuxiangzhaoyingbushilisuoyingdangdema。”aqiangdiandiantoushuo:“shuodedui,womenyijingxiangyijiarenyiyangliao。qishiwoxiangduinishuo,woyijingbanikanchengwodeqinrenliao,ni...yuanbuyuanyihewozhengshijieweifuqi?wozhidaoganqingxuyaoshijian,buhuizaibininage,womenjiusuiyuanfazhanba。”woyishiyouxieyiwai,dankanzhuoaqiangqidaideyanshen,huanshiwenhedishuo:“aqiang,qishiwozhexietianyezaixiang,renshengkuduan,nengyudaonizheyangzhenchengxiangdaiderenburongyi。zanmenjiushunqiziranba,xianzhucejiehun,riziyitiantianguo,ganqingziranjiuhaoliao。”aqianggaoxingjiliao,lianliandiantou:“haohaohao,xiaomeinishuodedui,zanmenquzhuceba!wobaozhenghuiduinihaode,huirangnixingfude!”wokandaotaqueyuedeyangzi,zijiyexiaoliao。qishiyuaqiangdexiangchurangwozhaohuiliaojiuweidepingjingyumanzu。wobuzaijiujiesuoweidenianlinghuoganqingwenti,zhixiangyuzheweishanlianglaorenxieshou,duguorenshengcanyudeshiguang。jiuzheyang,zaiyigeyangguangmingmeidezaochen,woyuaqiangqianwangliaominzhengju,jianjiandandandidengjichengweiliaofuqi。huilaidelushang,aqiangyizhilazhuowodeshoubukenfangkai,lianshangyangyizhuoxingfudebiaoqing。wozhidao,womenzhongchengjuanshu,woyeweizhenandedeyinyuangandaoxinweihejiaoao。2024-05-09 11:22·aimotuoIMOTOR
骑(Qi)行(Xing)途(Tu)经(Jing)的(De)游(You)客(Ke)打(Da)卡(Ka)拍(Pai)照(Zhao)。人(Ren)民(Min)网(Wang) 陈(Chen)明(Ming)菊(Ju)摄(She)
开完昂科威plus，再开途观L380，差太多，彻底死心！让群众在共建共享中收获满满幸福感性吧触春暖花开,性吧有你触厂别虫8触性吧最新地址触杏吧性吧触春暖花开,性吧有你触厂别虫8触性吧最新地址触杏吧
拉普拉斯IPO前客户兼股东接力扶持 绑定晶科能源豪赌TOPCON风险难料2023-10-16 19:09·新浪财经出品：新浪财经上市公司研究院作者：昊随着产能过剩担忧加剧和板块股价的集体调整光伏行业多家公司融资计划夭折原轼新材、华耀光电、聚成科技、拓邦新能和高景太阳能等先后撤回了IPO申请就连龙头公司通威股份也终止了160亿元的定增事项不过也有公司仍计划继续融资今年6月光伏电池片设备供应商拉普拉斯新能源科技股份有限公司（以下称拉普拉斯）首次披露科创板上市招股书直到目前该IPO事项仍在推进中在连城数控、晶科能源、林洋能源等几家客户兼股东的接力扶持下拉普拉斯成为光伏设备的一匹黑马特别是通过与晶科能源在TOPCON领域高度绑定实现了扭亏并迅速申报科创板IPO然而光伏电池片未来的主流技术路线尚未确定隆基绿能甚至抛弃了TOPCON主攻HPBC电池拉普拉斯豪赌TOPCON路线的一时成功难掩中长期风险2022年在晶科能源的鼎力支持下拉普拉斯毛利率翻番业绩扭亏为盈然而捷佳伟创等同行毛利率却基本未变公司盈利能力的异动也值得关注客户兼股东接力扶持 扭亏后迅速申报IPO拉普拉斯是一家光伏电池片核心工艺设备及解决方案提供商产物为光伏电池片生产过程中所需的自动化设备目前主要是热制程设备和镀膜设备资料显示拉普拉斯成立于2016年相比北方华创、捷佳伟创等同行属于不折不扣的后辈不仅如此在刚成立的最初几年拉普拉斯都处于产物的研发阶段直到2020年才开始实现上规模的销售收入2020年-2022年拉普拉斯营业收入分别为4072.33万元、1.04亿元和12.66亿元其中2021年和2022年营收增幅高达154.35%和1122.08%惊人增速的背后与几个大客户的提携密不可分2019年1月连城数控向拉普拉斯投资并签订业绩对赌协议；2020年4月连城数控以5000万元对价取得了拉普拉斯新增注册资本284.69万元截至目前连城数控共持有公司16.87%股份为第一大股东值得注意的是连城数控实际控制人之一钟宝申为隆基绿能董事长连城数控的董事长李春安也曾在隆基绿能任职多年2020年隆基绿能为拉普拉斯贡献营收3112万元占拉普拉斯当年全部营收比例高达76%此后隆基对拉普拉斯业绩贡献比例开始下降另一家上市公司晶科能源随即接棒招股书显示2021年12月上饶市弘信股权投资有限公司（以下称上饶弘信）和德兴市川弘投资有限公司（以下称德兴川弘）分别以3200万元和3300万元对拉普拉斯进行增资2022年4月上饶弘信和德兴川弘分别将其持有的拉普拉斯股权转让给上饶长鑫而上饶弘信、德兴川弘和上饶长鑫与晶科能源为同一控股股东截至招股书签署日2023年6月13日晶科能源控股股东通过上饶长鑫持有拉普拉斯2.36%的股份2021年起晶科能源取代隆基绿能成为拉普拉斯的第一大客户2021年和2022年晶科能源向拉普拉斯分别采购了5551.12万元、6.13亿元占拉普拉斯主营业务收入比例分别达到54.21%和48.55%此外2022年拉普拉斯第五大客户林洋能源也通过其全资子公司林洋创投持有公司0.26%股份正是依靠几家光伏上市公司的接力扶持拉普拉斯2020年-2022年净利润分别为-4599.63万元、-5711.25万元和1.19亿元业绩大幅改善就在业绩扭亏为盈的第一年拉普拉斯便迫不及待的提交了科创板上市申请然而依靠客户兼股东实现的业绩暴增背后潜藏的风险不得不警惕绑定晶科能源豪赌TOPCON 未来面临量价双重考验如果说隆基帮助拉普拉斯实现了从0到1那么晶科能源则让其从1跨越到10是助力拉普拉斯扭亏为盈并走上IPO之路的最重要角色招股书显示拉普拉斯销售的设备主要是热制程设备和镀膜设备其中热制程设备包括硼扩散、磷扩散、氧化及退火设备等镀膜设备包括LPCVD和PECVD设备等上述设备应用方向是N型电池主要是TOPCon电池和少量的BC电池并不覆盖HJT而晶科能源则是最早布局TOPCon的公司也是下注最坚决的公司目前在主要光伏电池公司中TOPCon现有产能和规划产能最大然而由于目前不同的光伏电池在成本、发电效率、性能和售价等方面互有优劣并未形成主流技术路线业内对未来的发展方向更无法达成一致预期例如隆基绿能就认为TOPCon是过渡性技术路线并全力扩产投入HPBC电池路线一旦BC电池、HJT或其它光伏电池路线出现技术突破、成本下降等情况对于豪赌TOPCON的拉普拉斯而言无疑是致命打击此外即便不考虑颠覆性风险拉普拉斯的盈利能力持续性也存在比较大的疑问招股书显示由于热制程设备和镀膜设备销售量价齐升2020年-2022年拉普拉斯毛利率分别为-4.6%、16.4%和32.9%而同期对标公司捷佳伟创毛利率则稳定在25%左右考虑到业内产能逐步过剩的前景以及晶科能源是公司的最大客户和股东未来拉普拉斯TOPCON设备销售在量价两方面的可持续性或都面临重大考验