6月27日，证监会官网披露了国泰海通证券关于紫光展锐（上海）科技股份有限公司的上市辅导备案报 告，标志着这家国产芯片设计巨头正式启动A股IPO进程。这是继今年3月完成股份制改造后，紫光展锐 在资本化道路上的又一重要进展。 面对AI时代机遇，紫光展锐在今年上海世界移动通信大会上发布了UNISOC端侧AI平台化解决方案。该 方案基于T9100芯片实现AI性能全面提升，支持多芯片互联，可灵活应用于手机、平板、汽车等多种终 端设备，展现出公司在AI赛道的布局决心。 业内人士表示，紫光展锐启动IPO预示着国产芯片企业正在加速资本化进程。随着5G普及和AI发展，芯 片设计行业迎来新一轮增长机遇，上市融资将助力企业突破技术瓶颈，提升市场竞争力。 公开信息显示，紫光展锐于2024年3月31日完成股份制改造，公司名称由"紫光展锐（上海）科技有限公 司"变更为"紫光展锐（上海）科技股份有限公司"，注册资本约55.32亿元人民币。股权结构方面，北京 紫光展讯投资管理有限公司作为控股股东，直接持有公司32.22%的股权，其背后是新紫光集团。 作为国内领先的平台型芯片设计企业，紫光展锐在移动通信领域已全面掌握2G至6G全场景通信技术， ...

Core Insights - Xiaomi's YU7 model officially launched on June 26, 2025, and achieved over 240,000 pre-orders within just 18 hours, indicating strong market demand [2][3] - The estimated delivery times for different configurations of the YU7 are as follows: Standard version: 53-56 weeks, Pro version: 48-51 weeks, Max version: 33-36 weeks, highlighting significant wait times for consumers [2][3] - The rapid order volume reflects high consumer recognition of the YU7, with initial orders surpassing expectations set by Xiaomi's founder Lei Jun, who anticipated only a modest improvement over the previous model, SU7 [3] Delivery and Production - The YU7's delivery timelines suggest that consumers will have to wait up to a year for the standard version, while the Max version will take over seven months [2][3] - Xiaomi's second-phase factory is expected to commence production in July, which is anticipated to alleviate capacity issues and improve delivery times [3] Market Response - The YU7's launch saw an impressive order volume, with 200,000 orders placed within the first three minutes and 289,000 within the first hour, showcasing the model's popularity [3] - The pricing for the YU7 ranges from 253,500 to 329,900 yuan, reflecting its positioning in the market [3] - The overwhelming demand for the YU7 not only demonstrates consumer confidence in the product but also highlights Xiaomi's strengths in product development, quality control, and industrial design [3]

Core Viewpoint - Sega Technology announced a temporary shutdown of its wholly-owned subsidiary, Zhongshan Yitaina Precision Manufacturing Technology Co., Ltd., to optimize resource allocation and reduce losses due to a challenging market environment and declining operational performance [2][3] Group 1: Company Overview - Zhongshan Yitaina was established on October 20, 2011, with a registered capital of 30 million yuan, primarily engaged in precision casing systems, including elevator casing systems and specialized equipment casing systems [2] - The subsidiary has been facing continuous operational declines due to a sluggish real estate market and intensified competition, resulting in a revenue of 50,961,538.29 yuan and a net loss of 8,559,476.19 yuan for the fiscal year 2024 [2] Group 2: Financial Impact - The revenue from Zhongshan Yitaina accounted for 5.31% of Sega Technology's most recent audited revenue, while its net assets represented only 0.01% of the equity attributable to the parent company [3] - The expected impact of the temporary shutdown on the consolidated net profit of Sega Technology is estimated to be between -15 million and -12 million yuan, with the exact figure to be confirmed in the 2025 audited report [3] Group 3: Operational Status - Aside from Zhongshan Yitaina, the operations of Sega Technology and its other subsidiaries are functioning normally, ensuring that the main business operations remain unaffected [3]

壹石通于2022年7月26日获得中国证券监督管理委员会的批复，同意公司向特定对象发行人民币普通股股票（A股）17,610,850股，募集资金 总额为人民币950,985,900元，扣除发行费用后实际募集资金净额为人民币929,804,701.21元。募集资金主要用于"年产15,000吨电子功能粉体材 料建设项目"、"年产20,000吨锂电池涂覆用勃姆石建设项目"、"技术研发中心建设项目"及补充流动资金。 "年产15,000吨电子功能粉体材料建设项目"中的子项目重庆基地"年产9,800吨导热用球形氧化铝项目"进行了工艺优化升级，并涉及相关行政 审批手续的调整。截至目前，该子项目已完成生产线主体建设，但工艺优化升级所需的部分辅助设备仍在推进落地过程中。同时，相关行政 审批手续的办理周期较长，导致项目实施进度有所延缓。基于上述原因，公司决定将该项目达到预定可使用状态的日期调整为2025年9月。 壹石通表示，本次部分募投项目延期仅涉及项目进度的变化，未改变募投项目的投资内容、投资总额、实施主体，不会对募投项目的实施造 成实质性影响。本次延期不存在改变或变相改变募集资金投向和其他损害股东利益的情形，不会对公司的正常经营 ...

Core Viewpoint - Stada Semiconductor plans to issue convertible bonds totaling up to RMB 150 million to optimize its capital structure, support business development, and enhance market competitiveness [2] Group 1: Convertible Bond Issuance - The proposed convertible bonds will have a face value of RMB 100 each and will be issued at par, with a term of six years from the issuance date [2] - The interest rate for the bonds will be determined based on market conditions and discussions with the lead underwriter prior to issuance [2] - The conversion period for the bonds will start six months after issuance and last until the maturity date, with the initial conversion price set at no less than the average trading price of the company's stock over the last twenty trading days prior to the announcement [2] Group 2: Use of Proceeds - The funds raised will be allocated to several projects, including: 1. Automotive-grade SiC MOSFET module manufacturing project with a total investment of RMB 100,245.26 million, seeking RMB 60 million from the raised funds [3] 2. IPM module manufacturing project with a total investment of RMB 30,080.35 million, seeking RMB 27 million from the raised funds [3] 3. Automotive-grade GaN module industrialization project with a total investment of RMB 30,107.68 million, seeking RMB 20 million from the raised funds [3] 4. Working capital supplementation project with a total investment of RMB 43 million, seeking the full amount from the raised funds [3] Group 3: Financial Performance - The financial reports from 2022 to Q1 2025 show the following: - Revenue figures: RMB 270,549.84 million, RMB 366,296.54 million, RMB 339,062.07 million, and RMB 91,923.04 million [2] - Net profit figures: RMB 82,074.64 million, RMB 92,069.91 million, RMB 51,338.67 million, and RMB 10,485.51 million [2] - Debt-to-asset ratios: 19.45%, 23.44%, 30.09%, and 31.81% [2] - Current ratios: 8.91, 6.31, 3.83, and 3.62 [2] - Quick ratios: 7.70, 4.49, 2.55, and 2.36, indicating strong solvency [2]

Core Viewpoint - The announcement highlights Yandong Micro's strategic decision to transfer its 6.27% stake in Shanghai Xinxiang Microelectronics Co., Ltd. to its controlling shareholder, Beijing Electronics Holdings Co., Ltd., for a price of RMB 600,166,458, marking a significant step in optimizing asset allocation and focusing on core business development [1][2]. Group 1: Share Transfer Details - Yandong Micro completed the transfer of its shares on June 26, 2025, following the approval process that began with the disclosure of the plan on March 19, 2025, and received formal approval from Beijing Electronics on March 21, 2025 [1]. - The transfer increased Beijing Electronics' ownership in Xinxiang Micro from 5.67% to 11.94%, establishing it as a significant shareholder in the company [1]. Group 2: Strategic Implications - The share transfer is part of Yandong Micro's strategic adjustment aimed at concentrating resources on core business areas and enhancing long-term value for shareholders [1]. - Yandong Micro intends to continue its commitment to technological innovation and business expansion in the semiconductor sector, contributing to the industry's development [2].

Core Viewpoint - The company announced adjustments to certain fundraising projects, including the termination of the "annual production of 80 sets of semiconductor material polishing and thinning equipment" project and the postponement of the "12-inch integrated circuit large silicon wafer equipment testing experimental line project" to June 30, 2027 [2][3][6] Project Adjustment Background - The adjustments were made based on the industry's development trends and the company's actual business situation, responding to the surge in domestic equipment demand in the semiconductor industry [3] - The company shifted its strategy to procure components from the supply market and enhance automation and intelligent production management, leading to significant savings in funds originally planned for importing equipment [3] - The wholly-owned subsidiary, Jinghong Precision, has developed core manufacturing capabilities to meet the demand for key components of polishing and thinning equipment, avoiding redundant construction and improving fund utilization efficiency [3] Remaining Fund Arrangement - As of May 31, 2025, the remaining balance of funds from the terminated project is 430.31 million yuan (including interest income and net of bank fees) [4] - These funds will continue to be managed in the original fundraising account, and the company will actively plan and evaluate new investment projects to ensure efficient use of the funds [4] Fundraising Project Postponement - The postponement of the "12-inch integrated circuit large silicon wafer equipment testing experimental line project" is due to the need for extended testing and validation cycles for the equipment, driven by ongoing technological and process innovations [6] - The postponement does not involve changes to the project's implementation entity, investment purpose, or scale, and will not adversely affect the project's execution [6] Project Re-evaluation - The necessity of the project is highlighted by the need to improve testing conditions, enhance R&D and testing capabilities, cultivate talent, and support domestic substitution in the semiconductor industry [7] - The project will help meet high standards in laboratory testing, accelerate the industrialization process, and attract high-quality R&D talent [7] Feasibility of the Project - The feasibility is supported by the company's experienced R&D team, technical reserves, and national policies encouraging technological innovation [8] - The company possesses core technologies and a strong capacity for continuous innovation, backed by supportive national policies [8] Impact on the Company - The termination of certain fundraising projects and the postponement are reasonable adjustments based on the company's actual situation and will not significantly impact normal operations [9] - These changes will enhance the efficiency of fund utilization and optimize resource allocation, aligning with the company's future strategic requirements [9]

中国证监会监管江苏局认为，锦富技术的上述行为违反了《证券法》相关规定，锦富技术董事长顾清、时任财务总监邓浩、时任总经理方永刚是锦富技术信 息披露违法行为直接负责的主管人员，时任董事、副总经理兼审计委员会委员ZHANG WEI是锦富技术信息披露违法行为其他直接责任人员。 根据当事人违法行为的事实、性质、情节与社会危害程度，依据《证券法》相关规定，中国证监会江苏监管局决定对锦富技术给予警告，并处以400万元罚 款；对顾清给予警告，并处以120万元罚款；对邓浩给予警告，并处以100万元罚款；对方永刚给予警告，并处以80万元罚款；对ZHANG WEI给予警告，并 处以50万元罚款。 锦富技术表示，本次收到的《行政处罚决定书》中认定的情况与《行政处罚事先告知书》中涉及的违法违规行为一致，公司不触及《深圳证券交易所创业板 股票上市规则》第十章第五节规定的重大违法强制退市的情形。截至本公告披露日，公司生产经营情况正常，上述事项不会对公司生产经营产生重大影响。 公司就本次事项向广大投资者致以诚挚的歉意，并将吸取经验教训，严格按照监管要求，进一步强化守法合规意识，提高规范运作水平，确保真实、准确、 完整、及时、公平地履行信息披 ...

Core Viewpoint - Longqi Technology has submitted an application for H-share listing on the Hong Kong Stock Exchange, highlighting its position as a leading global provider of smart products and services, particularly in the ODM sector for consumer electronics and smartphones [2][3]. Group 1: Company Overview - Longqi Technology was established in 2004 and has developed a diverse product portfolio including smartphones, AIPC, automotive electronics, tablets, smartwatches, and smart glasses [3]. - The company has a strong client base, including major brands like Xiaomi, Samsung, Lenovo, Honor, OPPO, and vivo, supported by a professional team of approximately 4,000 R&D and engineering personnel [3]. - Longqi Technology has created a comprehensive smart product ecosystem compatible with popular platforms such as Android and Windows, structured around a "1+2+X" framework [3]. Group 2: Financial Performance - In 2024, Longqi Technology's smartphone revenue reached RMB 36,132.7 million, accounting for approximately 77.9% of total annual revenue [4]. - The company achieved a smartphone ODM shipment volume of 172.9 million units in 2024, ranking first globally in this category [4]. - The tablet computer business generated revenue of RMB 3,696.3 million in 2024, representing about 8% of total revenue, with ODM shipments of 12.3 million units [5]. - Longqi Technology's AIoT business saw significant growth, with revenue reaching RMB 5,573.1 million in 2024, a 122.0% increase from 2023, contributing approximately 12.0% to total revenue [5]. Group 3: Strategic Initiatives - Longqi Technology is strategically investing in new business areas such as AIPC and automotive electronics, having launched its first laptop featuring a Qualcomm Snapdragon processor in Q3 2024 [6]. - The company has established partnerships with multiple OEMs and tier-one clients in the automotive electronics sector, actively expanding into overseas markets [6].

Core Viewpoint - Jiangsu Yadian Technology Co., Ltd. (Yadian Technology) has officially submitted its IPO application to the Shanghai Stock Exchange, aiming to raise 950 million yuan for the development of advanced semiconductor cleaning equipment and related projects [1][3]. Group 1: Company Overview - Yadian Technology is a leading supplier of wet cleaning equipment in China, focusing on the research, production, and sales of equipment used in silicon-based semiconductors, compound semiconductors, and photovoltaic fields [1][4]. - The company's products are essential in the wet cleaning process during the front-end manufacturing of semiconductor wafers, directly impacting the integrity, purity, and yield of subsequent manufacturing processes [1][2]. Group 2: Technology and Market Position - Yadian Technology has developed key core technologies in the semiconductor wet cleaning equipment sector, enhancing wafer cleaning capabilities, efficiency, and equipment stability [2]. - The company ranks second among domestic brands in the market share of slot-type wet cleaning equipment, according to a report by Frost & Sullivan [2]. - Yadian Technology's revenue has shown significant growth, with figures of 121 million yuan in 2022, 442 million yuan in 2023, and projected 598 million yuan in 2024, alongside a turnaround in net profit from a loss of 93.99 million yuan in 2022 to a profit of 85.12 million yuan in 2024 [2]. Group 3: Future Strategy and Goals - The company aims to become a leading supplier of semiconductor wet process equipment in China, focusing on customer-centric product development and continuous innovation [4]. - Future projects include enhancing production and delivery capabilities for both semiconductor and photovoltaic wet cleaning equipment, as well as advancing the research and development of cutting-edge cleaning technologies [3][4].