为进一步推进公司整体战略调整和优化产业结构，强化资源整合，巩固和增强和成显示核心竞争力，和成显示计划以人民币1.7亿元（含税）购买JNC旗下 两家子公司100%股权，以及以人民币2.12亿元（含税）购买JNC集团所有与显示液晶相关的专利；同时，JNC拟以货币出资人民币1.7亿元（含税）认购和成 显示新增注册资本，取得和成显示5.1%股权，飞凯材料放弃本次增资的优先认购权。 根据双方签订的《Intellectual Property Purchase Agreement》、《License Agreement》，JNC向和成显示转让其所有与显示液晶相关的专利，转让对价为人民 币2.12亿元（含税）。同时，和成显示向JNC及其关联公司授予许可，使其在中国大陆以外地区可以使用前述专利权开展显示液晶业务，且和成显示将按照 产品销售净额收取许可费。 为提高公司募集资金使用效率，基于对当前在建募投项目"年产50吨高性能混合液晶及200吨高纯电子显示单体材料项目"和"丙烯酸酯类及光刻胶产品升级改 造建设项目"建设进度与资金使用情况的综合评估，公司拟将已终止募投项目"年产15吨OLED终端显示材料升华提纯项目"的剩余募集资金 ...

其中，"海外智能制造产业基地扩建项目"在推进过程中，国际贸易环境发生较大变化，贸易政策频繁更迭，地缘政治冲突进一步加剧，为降低投资风险，同 时满足客户扩建产能快速落地需求，光莆股份拟使用募集资金先租赁厂房并进行装修，快速实现部分产能的投产，满足市场和客户的即时需求，降低前期资 金投入压力与投资风险；后续待国际贸易形势趋于明朗、贸易政策趋于稳定后，再继续推进海外购地和厂房建设。 基于此，光莆股份经审慎研究后决定增加该募投项目的实施方式：租赁厂房和厂房装修，并将该项目达到预定可使用状态日期延长至2027年12月31日。 光莆股份于2020年9月非公开发行不超过71,363,368股新股，共计募集人民币1,030,803,595.51元。扣除与发行有关的费用，实际募集资金净额为人民币 1,017,663,459.71元。 光莆股份于2024年7月审议通过了《关于变更部分募集资金用途及新增募集资金投资项目的议案》，同意公司将"高光功率紫外固态光源产品建设项 目"和"LED照明产品智能化生产建设项目"尚未使用的募集资金及累计收益用于实施公司新增的募投项目"光电传感器件集成封测研发及产业化项目"和"海外 智能制造产业基地 ...

Core Viewpoint - Basic Semiconductor has officially submitted its listing application to the Hong Kong Stock Exchange, positioning itself as a leading player in China's third-generation semiconductor power device industry, focusing on the research, manufacturing, and sales of silicon carbide power devices [2] Company Overview - Basic Semiconductor is the only company in China that integrates silicon carbide chip design, wafer manufacturing, module packaging, and gate driver design and testing capabilities [2] - The company has established a comprehensive product portfolio, including silicon carbide discrete devices, automotive-grade and industrial-grade silicon carbide power modules, and power semiconductor gate drivers [2][5] Market Position - According to Frost & Sullivan, Basic Semiconductor ranks seventh globally and sixth in China in the silicon carbide power module market by revenue for 2024, and third among Chinese companies [2] - The company has achieved significant sales growth, with revenue increasing from RMB 116.9 million in 2022 to RMB 220.6 million in 2023, and projected to reach RMB 299 million in 2024 [7] Product Applications - Basic Semiconductor's solutions serve various industries, including electric vehicles, renewable energy systems, energy storage systems, industrial control, data centers, and rail transportation [2] - The company has delivered over 90,000 units of its products for electric vehicle applications as of December 31, 2024, with sales of silicon carbide power modules increasing from over 500 units in 2022 to over 30,000 units in 2023, and further to over 61,000 units in 2024 [7] Technological Advancements - Basic Semiconductor holds 163 patents and has submitted 122 patent applications, with core product performance reaching international benchmark levels [5] - The company has established a research and development center in collaboration with Tsinghua University and has been recognized as a collaborative innovation center for third-generation semiconductors [5] Business Model - Basic Semiconductor operates under an IDM (Integrated Device Manufacturer) model, covering the entire value chain from silicon carbide chip design to wafer production and module packaging, with all processes achieving mass production [6] - The company plans to expand its packaging capacity in Shenzhen and Zhongshan, aiming to achieve significant supply chain and cost advantages [6]

For a to the 2 - 1 : 2016 1 100 200 STEPT The Mark the first and and the 33 lay 如本次1860万股股份司法拍卖最终竞价成功且完成过户，得胜公司所持公司股份将下降至21,744,933股，占公司总股本的3.60%；得胜公司及其一致行动人 所持公司股份将下降至47,944,966股，占公司总股本的7.93%，经与律师初步沟通判断，得胜公司仍为公司控股股东，公司控制权未发生变更。 每批次起拍价为7,544,160元，保证金为754,000元，增价幅度为37,700元及其倍数，拍卖时间为2025年6月9日10时至2025年6月10日10时止。 截至5月27日，得胜公司及实际控制人邱建民累计被司法拍卖并已完成相应过户手续的股份为37,128,699股（含司法划转至债权人的股份），占公司总股本比 例为6.14%。 截至目前，得胜公司持有公司股份66,344,933股，占公司总股本的10.98%；得胜公司及其一致行动人合计持有公司股份92,544,966股，占公司总股本的 15.31%。 得胜公司持有的公司股份26,000,000股将于2025 ...

Group 1 - The company has established mass production capabilities for electronic paper products and achieved small batch shipments as of the report date [2] - Electronic paper technology is gaining popularity due to its low energy consumption and alignment with global digitalization and sustainability trends [2] - The company has adjusted its fundraising project plans, terminating two projects to enhance the efficiency of fund usage and reallocating the remaining funds to other projects [2] Group 2 - The company is minimally affected by the U.S. tariffs, with normal production and operations ongoing [3] - The recent trade agreement has resulted in the cancellation of 91% of tariffs imposed on China, benefiting the company [3] - Future profit growth will rely on technology iteration, new product development, and expansion into various application fields, with stable customer bases established in healthcare and IoT sectors [3]

Core Insights - Lixun Precision has strategically positioned itself in the AI industry over a decade ago, focusing on four key areas: electrical connections, optical modules, power supply, and thermal management [3] - The company believes that the rise of smart electric vehicles has provided significant opportunities for the Chinese automotive market, which would have been difficult to achieve in the traditional fuel vehicle era dominated by Western companies [3] - Lixun's automotive business, although currently a small revenue contributor, is growing at a rate that exceeds the company's average growth, indicating strong potential for future expansion [3] Group 1 - Lixun Precision has established a leading position in electrical connection technology, while its optical modules, power supply, and thermal management are in a catch-up phase [3] - The growth rates of Lixun's power modules, thermal management, and optical module businesses are significantly higher than the industry average [3] - The company anticipates that the overall growth rate of the automotive supply chain in China will exceed 50% in the coming years, driven by a large domestic market and favorable policies [3] Group 2 - In response to tariff challenges, Lixun has adjusted its production capacity and shifted most of its U.S. exports away from China since the trade tensions of 2018-2019 [4] - The company has established production capabilities in Southeast Asia, Mexico, North Africa, and Eastern Europe, allowing it to mitigate risks and seize new business opportunities [4] - Lixun has conducted a thorough assessment of the impact of the current trade war, finding that only a minimal number of products are affected [4]

Group 1 - The company received a development notification from a leading domestic brand, confirming its selection as a supplier for a certain model's combined driving assistance solution, utilizing Horizon Journey® 6M chip [2] - This selection signifies the deepening of the partnership and further enhances the company's market competitiveness [2] - As of the end of 2024, the company has completed orders for 32 models in its self-developed autonomous driving product series and has delivered 22 models in mass production [2] Group 2 - In 2024, the company became the first globally to achieve mass production delivery of a BEV model on a relatively low computing power TI TDA4 chip, accelerating the adoption of autonomous driving in the passenger vehicle industry [3] - The company has deployed a fully automated production line for IFC intelligent front-view integration machine and iDC parking integration domain controller, ensuring high-quality and large-scale product delivery while reducing production costs [3] - The company is continuously optimizing its supply chain system to diversify chip suppliers, enhancing its bargaining power and providing industry-leading cost-performance products to customers [3]

Core Viewpoint - Jingwang Electronics has announced a delay in the completion of its HDI project while maintaining the original investment structure and purpose of the raised funds [2][3] Group 1: Project Details - The HDI project aims to produce 600,000 square meters of high-density interconnect printed circuit boards and began construction in Q4 2019, with partial production starting in June 2021 [3] - The total investment in the HDI project as of April 30, 2025, is RMB 210,671.52 million, with RMB 80,304.44 million from raised funds and RMB 130,367.08 million from the company's own funds, representing 81.43% of the committed total investment [2] Group 2: Fundraising and Financials - On April 4, 2023, the company issued 11.54 million convertible bonds at a face value of RMB 100 each, raising a total of RMB 115,400 million, with a net amount of RMB 113,961.54 million after deducting issuance costs [2] - The raised funds are allocated for the construction of the first phase of the HDI project at Jingwang Electronics Technology (Zhuhai) Co., Ltd. [2] Group 3: Strategic Considerations - The company has decided to delay the full completion of the HDI project from June 2025 to June 2026 to mitigate investment risks and enhance the efficiency of fund utilization, considering the macroeconomic environment and industry conditions [3]

Group 1 - The core viewpoint is that Micro LED is becoming an increasingly significant revenue driver for the company, expected to account for approximately 14% of revenue in 2024 and continue to grow in 2025 through enhanced market promotion and production capacity expansion [2] - The company has adopted a dual sales model in the domestic market, utilizing both direct sales and channel sales to meet the needs of vertical industry clients and expand into mid-tier and lower-tier markets [2] - The company has established a global strategy with teams centered in the US and Hong Kong to cover the European, American, and Asia-Pacific markets [2] Group 2 - The company initiated a "dual brand" strategy in the European and American markets in 2024, adding the "Leyard" brand to complement the existing "Planar" brand, aiming to cover high, medium, and low-end markets [3] - In the Asia-Pacific and Latin American markets, the company has set up a dedicated team and is focusing on mid-tier and lower-tier market clients, with revenue from this region expected to account for 34% of overseas smart display income in 2024, reflecting a nearly 40% year-on-year growth [3] - The company has established a factory in Slovakia and is planning to expand production capacity and product variety based on market conditions, while also accelerating the construction of a factory in Saudi Arabia for external production and sales [3]

公司多元化产品线同步推进，液力缓速器产品2024年量产交付规模显著增长，获商用车客户认可。2025年一季度经营延续向好态势，期间 费用率下降叠加新能源产品收入增长，驱动整体业绩提升。德尔股份表示将持续深化固态电池产业化进程，同时发挥卡酷思全球化布局优 势，把握汽车电动化发展机遇。 （校对/黄仁贵） 德尔股份自2018年设立日本德尔开启固态电池研发，经多轮技术路线论证后锁定"氧化物+有机复合电解质"方案。2023年其固态电池样品通 过第三方针刺、加热及过充测试，2024年获国家发明专利授权，并与江西江铃集团新能源达成战略合作，计划搭载验证整车。2025年1月上 海试制线建成后，生产工艺验证取得突破，2月携最新产品亮相东京国际电池展，展现技术实力。 在业务协同方面，子公司卡酷思作为全球领先的汽车声学与热管理方案商，持续强化在新能源汽车领域的布局。其电池阻燃防护罩等产品 已实现批量供货，为大众等品牌提供安全解决方案。依托北美、欧洲及国内生产基地，卡酷思构建起覆盖奔驰、宝马、奥迪等头部车企的 客户网络，新能源汽车产品收入占比持续提升。 近日，德尔股份在接受机构调研时表示，公司上海已经建成固态电池样品试制线，并在进行各 ...