Core Viewpoint - Ruishi Chuangxin (Chongqing) Technology Co., Ltd. has officially submitted its application for listing on the Science and Technology Innovation Board, aiming to raise 809 million yuan for expanding its MEMS device production base, R&D center, and working capital, thereby enhancing its competitiveness in the high-end RF front-end sector [1] Group 1: Company Overview - Ruishi Chuangxin specializes in RF front-end chips and modules, being one of the few domestic manufacturers with independent production capabilities for RF filters [1] - The company has established a comprehensive product matrix covering high-integration modules and discrete components, supporting communication standards from 2G to 5G, and expanding into emerging fields like drones and satellite communications [2] Group 2: Technological Capabilities - The company has mastered core technologies across the entire industry chain, including RF front-end core component design, filter wafer manufacturing, and advanced packaging and testing of high-performance modules [2] - Ruishi Chuangxin has developed the Phase 8L L-PAMiD product, achieving full domestic production from chip to module, with key performance indicators reaching international first-tier standards [2] Group 3: Research and Development - The company has a research team of 222 members, with nearly half holding master's or doctoral degrees, and has been recognized as a national-level "little giant" enterprise [3] - Ruishi Chuangxin holds 330 authorized patents, including 144 invention patents, and is involved in several major provincial and municipal scientific research projects [3] Group 4: Strategic Focus - The company aims to accelerate the maturity of the domestic supply chain through mid-to-low integration products while concentrating resources on high-value L-PAMiD modules and emerging markets [3] - The second phase of the MEMS device production base project is crucial for expanding the production capacity of high-end filters, which is essential for meeting the increasing demand from high-end modules [3] Group 5: Future Outlook - Ruishi Chuangxin plans to continue its "technology innovation + domestic substitution" strategy, deepening technological collaboration across the industry chain to become a global leader in the RF front-end field [3]

Core Viewpoint - Shanghai Taosheng Electronics Technology Co., Ltd. has officially submitted its application for listing on the Sci-Tech Innovation Board, aiming to raise 1.058 billion yuan for the construction of a semiconductor testing interface and probe production base, R&D of wafer testing probe cards, and working capital supplementation, to strengthen its leading position in high-end chip testing hardware and accelerate the domestic substitution process [1] Group 1: Company Overview - Taosheng Technology is one of the earliest companies in China to independently develop chip testing interfaces and achieve large-scale production [1] - The company focuses on the semiconductor testing interface field, with products including chip testing interfaces and probe cards, which are critical for ensuring chip quality [1] - The company has developed over 4,000 chip testing interface technology solutions and possesses independent R&D and manufacturing capabilities for high-speed, high-frequency testing probes [2] Group 2: Market Position and Achievements - According to Yole, Taosheng Technology is projected to rank first in chip testing interface revenue in China and 11th globally in 2024 [2] - The company has built a broad customer ecosystem covering the entire semiconductor industry chain, serving over 700 clients, including leading companies in AI chips and autonomous driving [2] - Taosheng Technology has developed the first domestic DSA testing interface supporting parallel testing of 512 chips for Yangtze Memory Technologies, aiding the localization of the storage industry [2] Group 3: Technological Advancements - The company is expanding into the more technically challenging wafer testing probe card field, with its MEMS probe cards already commercialized for AI chip clients [3] - Taosheng Technology has achieved breakthroughs in the storage sector, with 2D MEMS products receiving orders and 2.5D MEMS products passing stringent certifications from Yangtze Memory Technologies [3] - The company is also conducting pre-research on 3D MEMS probe card technology to cover high-end storage testing scenarios [3] Group 4: Future Outlook - Taosheng Technology aims to focus on national strategic needs, pursuing high-end and large-scale development [3] - The company plans to increase R&D investment to tackle core key technologies in high-end testing interfaces, break overseas monopolies, and accelerate the domestic substitution process [3] - The goal is to further expand market share and solidify its leading position in the industry, aspiring to become a leading brand in the global semiconductor testing interface field [3]

12月30日，上海证券交易所正式受理了长鑫科技集团股份有限公司（简称"长鑫科技"）的科创板上市申请。作为我国规模最 大、技术最先进、布局最全的DRAM（动态随机存取存储器）研发设计制造一体化企业，长鑫科技此次IPO拟募集资金高达295 亿元，主要用于存储器晶圆制造量产线技术升级改造项目、DRAM存储器技术升级项目，以及动态随机存取存储器前瞻技术研 究与开发项目，标志着国产DRAM产业发展进入新的关键阶段。 目前，长鑫科技在合肥、北京两地拥有3座12英寸DRAM晶圆厂，产能规模位居中国第一。公司高度重视研发创新，截至2025年 6月30日，已在全球范围内拥有超过5500项专利，其中境内发明专利2348项。根据世界知识产权组织数据，公司2023年国际专利 申请公开数量位列全球第22位，展现出强劲的技术创新实力。 在产业链协同方面，公司已与阿里云、字节跳动、腾讯、小米、荣耀、OPPO、vivo等众多行业头部客户建立深度合作，并积极 联动半导体设备、材料、设计及模组等上下游企业，共同推动国产DRAM产业生态的完善与安全可控。 本次IPO募集资金将重点投向制造技术升级、DRAM技术迭代及前沿技术研发等领域。长鑫科技表示 ...

Core Viewpoint - Jiangsu Gaokai Precision Fluid Technology Co., Ltd. (referred to as "Gaokai Technology") has officially submitted its application for listing on the Sci-Tech Innovation Board, aiming to raise approximately 1.5 billion yuan for high-end semiconductor equipment component R&D, R&D center construction, and working capital supplementation [1][4]. Company Overview - Established in 2013, Gaokai Technology focuses on the R&D, production, and sales of key control components and related equipment in the precision fluid control field [3]. - The company has developed three core business segments: flow control series, dispensing packaging series, and precision coating series, with applications in semiconductor, consumer electronics, automotive electronics, and new energy sectors [3]. Market Position and Achievements - Gaokai Technology is one of the few domestic suppliers capable of mass production and application of key fluid control components in advanced semiconductor processes, including products used in 7nm and below logic chip manufacturing [3]. - The company's products have been validated by well-known domestic manufacturers, achieving stable mass production supply [3]. - In the semiconductor equipment fluid control sector, Gaokai's self-developed products are widely used in wafer manufacturing processes such as etching, thin film deposition, and cleaning, serving several leading domestic semiconductor equipment companies [3]. Recent Developments - This is Gaokai Technology's second attempt to list on the Sci-Tech Innovation Board, having previously been accepted in June 2021 but terminating the review in December of the same year [4]. - The renewed application reflects the company's commitment to the precision fluid control field and significant progress in core technology breakthroughs and market expansion [4]. Industry Outlook - Analysts note that the demand for precision fluid control is continuously growing due to the accelerated localization of semiconductor equipment and the rapid development of the new energy industry [4]. - Successful listing on the Sci-Tech Innovation Board would provide Gaokai Technology with more substantial financial support, potentially solidifying its leading position in the key components of semiconductor equipment and promoting the realization of more core technologies being self-controlled [4].

Core Viewpoint - Shenzhen ChenZhuo Technology Co., Ltd. has initiated its A-share IPO process, marking its entry into the semiconductor testing equipment sector as a new public candidate [1] Group 1: Company Overview - ChenZhuo Technology was established in May 2013 and focuses on SoC (System on Chip) testing machines as its core product [3] - The company’s main business includes the R&D, production, sales, and technical services of CIS (Image Sensor) testing machines, general digital testing machines, and DDIC (Display Driver IC) testing machines [3] - As of 2024, ChenZhuo Technology has been recognized as a national-level specialized and innovative "little giant" enterprise due to its technological strength and market performance [3] Group 2: Market Position and Achievements - The company has served over 200 domestic and international chip clients, including several industry leaders [3] - In 2024, ChenZhuo's SoC testing machines achieved stable mass production with over 400 units in operation, showcasing its technical capabilities and market competitiveness [3] - The company has accumulated over 100 intellectual property rights in the semiconductor testing field, indicating a solid technical foundation [3] Group 3: Technological Capabilities - ChenZhuo Technology has developed a complete testing system that includes hardware platforms, FPGA, driver software, application software, and algorithm libraries, forming a comprehensive independent technology ecosystem [3] - The company’s general digital testing machine series has surpassed the performance indicators of comparable overseas models in testing efficiency and machine stability for various digital chips [3] Group 4: Future Plans and Financial Backing - The company has achieved mass production and commercialization of CIS and general digital testing machines and has launched a high-performance DDIC testing machine for display driver chip testing [4] - Looking ahead, ChenZhuo Technology plans to introduce high-end testing equipment for complex SoC chips, including AI, CPU, GPU, and FPGA, to further expand its product line [4] - The company has completed financing of several hundred million yuan, attracting investments from notable semiconductor industry investment institutions, highlighting its value and potential in the industry chain [4]

Core Viewpoint - The completion of the IPO guidance for Hanbo Semiconductor marks a significant step towards its listing on the A-share market, focusing on GPU chip development [1][3]. Group 1: Company Overview - Hanbo Semiconductor specializes in the research and development of GPU chips, providing comprehensive chip solutions for artificial intelligence core computing power, graphics rendering, and content generation [3]. - The company aims to leverage the strong market demand for high-performance GPUs driven by rapid advancements in artificial intelligence and graphics technology [3]. Group 2: IPO Guidance Completion - The guidance report indicates that Hanbo Semiconductor has established the necessary governance structure, internal control systems, and accounting foundations to qualify as a public company [3]. - The successful completion of the IPO guidance is a crucial step in the A-share listing process, ensuring compliance with regulatory requirements [3]. Group 3: Future Prospects - If successfully listed, Hanbo Semiconductor is expected to gain significant capital to accelerate product iteration and technological breakthroughs, enhancing its brand influence and competitiveness in the global GPU market [4]. - The listing process is closely watched by the semiconductor industry and capital markets, as it is anticipated to promote independent innovation and development within the related industry chain [4].

Group 1 - The core viewpoint of the news is the announcement of a new policy by the National Development and Reform Commission and the Ministry of Finance to implement large-scale equipment updates and a trade-in policy for consumer goods in 2026, which aims to enhance the coverage and effectiveness of subsidies for green and smart products [1][2] Group 2 - The policy expands the scope of trade-in subsidies to include smart glasses and smart home products, alongside existing categories like automobiles and home appliances [1] - Specific subsidies for digital and smart products will cover smartphones, tablets, smartwatches, and smart glasses, with local governments responsible for detailing the subsidy rules [1] - The policy emphasizes targeted adjustments in subsidy standards to improve precision and effectiveness [1][2] Group 3 - The government has allocated 62.5 billion yuan in special long-term bonds to support the trade-in policy, ensuring timely implementation to meet consumer demand during traditional peak seasons [2] - The updated policy also includes support for installing elevators in old residential areas, enhancing safety in elderly care institutions, and improving commercial facilities, reflecting a focus on social welfare and safety [2] Group 4 - The subsidy for automobile trade-ins will shift from a fixed amount to a percentage of the new car sales price, while maintaining the upper limit [3] - For home appliances, the subsidy will be 15% of the sales price for energy-efficient products, with a cap of 1,500 yuan per item for each consumer [3] - The subsidy for digital and smart products will also be 15% of the sales price, with a limit of 500 yuan per item for each consumer [3]

Group 1 - The chairman of Zotye Auto, Li Lizhong, has resigned due to personal family reasons, and the company has nominated Han Biwen as a candidate for a non-independent director of the ninth board of directors [2] - Li Lizhong submitted a written resignation report to the board, resigning from all positions including chairman, director, and committee roles, and will no longer hold any position in the company [2] - As of the announcement date, Li Lizhong does not hold any shares in the company and has no unfulfilled commitments [2] Group 2 - Han Biwen, born in April 1978, has extensive experience in the automotive industry, having held various positions at Chery Automobile Co., Ltd. and other companies [3] - Han Biwen does not hold any shares in Zotye Auto and has no relationships with shareholders or other board members [3] - The nomination of Han Biwen as a non-independent director is set to take effect from the date of approval by the shareholders' meeting until the end of the ninth board's term [2]

Core Viewpoint - Great Wall Motors has signed a revised framework agreement with Beam Automobile, establishing the upper limit for daily related transactions for 2026, which is part of an ongoing collaboration that began in 2020 [2][3] Group 1: Transaction Details - From January 1 to November 30, 2025, Great Wall Motors engaged in various related transactions with Beam Automobile, including sales of parts and molds amounting to 1.193 billion yuan, vehicle and parts procurement around 12 million yuan, R&D services totaling 79.1193 million yuan, consulting services amounting to 7.6339 million yuan, procurement of R&D services at 51.1515 million yuan, IT-related services worth 4.2577 million yuan, and logistics services totaling 190.019 million yuan [2] - From 2020 to November 30, 2025, Great Wall Motors provided factory construction management and production process development services to Beam Automobile, with a cumulative amount of 137 million yuan [2] Group 2: Agreement Terms - The revised agreement specifies the upper limits for daily related transactions for 2026, although specific amounts were not disclosed in the announcement [2] - The previously agreed cumulative transaction limit for factory construction management and production process development services from 2020 to 2027 is set at 200 million yuan, with 137 million yuan already utilized as of November 30, 2025 [2] Group 3: Company Background - Beam Automobile was established in December 2019 with a registered capital of 1.7 billion yuan, jointly owned by Great Wall Motors and BMW (Netherlands) Holding Company, each holding a 50% stake [3] - The executive director and deputy general manager of Great Wall Motors, Zhao Guoqing, serves as a director of Beam Automobile, indicating that Beam Automobile is a related party [3]

公告显示，本次交易的主要交易对方包括南昌建恩半导体产业投资中心（有限合伙）、北京广盟半导体产业投资中心（有限合伙）、天津瑞芯半导体产业投 资中心（有限合伙）等，紫光国微已与上述三方签署《收购意向协议》，拟同步收购其他股东所持瑞能半导股份以确定最终交易对方范围。交易定价将以具 有证券从业资格的评估机构出具的评估报告为依据，由交易各方协商确定。 瑞能半导成立于2015年8月，注册资本3.62亿元，注册地址位于江西省南昌市南昌县，经营范围包括半导体产品和设备、零部件的研发、设计、生产、销售 及技术服务等。近期该公司完成管理层调整，选举庞俊成担任第三届董事会董事长及法定代表人，注册地址及法定代表人变更的工商登记手续尚未办理完 毕。 主要交易对方均为有限合伙企业，执行事务人均为北京建广资产管理有限公司：南昌建恩成立于2015年1月，出资额2.4亿元；北京广盟成立于2015年8月， 出资额2.04亿元；天津瑞芯成立于2017年11月，出资额2.26亿元，三者均聚焦半导体产业投资相关业务。 12月29日，紫光国微发布停牌公告，宣布正在筹划发行股份及支付现金购买资产并募集配套资金事项，拟收购瑞能半导体科技股份有限公司（以下简 ...