"整体来说，当前公司产线仍处于供不应求状态，出货量还无法完全满足客户需求。"在11月14 日举行的中芯国际2025年第三季度业绩说明会上，中芯国际联合首席执行官赵海军透露，四季 度是传统淡季，客户备货有所放缓，但由于产业链切换迭代效应持续，将"淡季不淡"。 记者从多个渠道求证获悉，中芯国际已经对部分产能实施了涨价，涨幅约为10%。 有公司反映，预计涨价会很快执行。但由于之前存储产品价格过低，晶圆厂早已率先对其实施 了涨价。 "由于手机应用和AI需求持续增长，带动套片需求，从而带动了整体半导体产品需求的增 长。"对于中芯国际涨价的原因，有半导体业内人士解读，原材料涨价也是其中因素。 此外，台积电确认整合8英寸产能，并计划在2027年末关停部分生产线，或也引发晶圆厂涨价预 期。 事实上，由于需求旺盛，中芯国际、华虹公司的产能利用率持续增长，并已接近满载或超过满 载。 中芯国际在三季报中披露，第三季度，公司产能利用率上升至95.8%，环比今年第二季度的 92.5%增长3.3个百分点。 | | 2025 年第三季度 | 2025 年第二季度 | 2024 年第三季度 | | --- | --- | --- | --- ...

2025年12月22日，中国证监会国际合作司正式发布北京智谱华章科技股份有限公司境外发行上市及境内未上市股份"全流通"备案通知书，这一关键监管许 可的落地，标志着智谱华章的港股IPO进程迈入实质性阶段，公司向"全球大模型第一股"的目标发起最后冲刺。 | 中国证券监督管理委员会 CHINA SECURITIES REGULATORY COMMISSION | | | 请输入关键字 | | | | --- | --- | --- | --- | --- | --- | | △ 首页 价 机构概况 ■ 政务信息 吕. 办事服务 | 同 新闻发布 | 同 互动交流 | | 00 统计信息 | 三 专题专栏 | | √ 当前位置：首页 > 政务信息 > 政府信息公开 > 主动公开目录 > 按主题查看 > 国际合作 > 境外证券发行 > 结果公示 | | | | | | | 紧 引 号 bm56000001/2025-00014859 | | ਨੇ 类 | 结果公示,备案管理 | | | | 发布机构 | | 发文日期 | 2025年12月22日 | | | | 名 称 关于北京智谱华章科技股份有限公司境外发行上市及境内 ...

作为全球民用无人机和航拍技术的开创者，大疆也亮明了自身的价值：从赋能影像创作者的创意工具， 到深耕农业、巡检、测绘、消防救援等关键领域， 大疆 产品早已成为提升生产效率、守护生命与公共 安全的重要支撑，创造的价值不可替代。 对于美方炒作的"安全风险"，大疆更是硬气回应称，产品的安全性和可靠性，早已被全球市场和多家权 威第三方机构验证。目前，公司正在评估所有可行路径，坚定维护自身及全球用户的合法权益。 美国再次挥起贸易管制大棒，这次瞄准了全球民用无人机领域。 当地时间12月22日，美国联邦通信委员会（FCC）正式宣布，将大疆在内的所有外国制造无人机及零部 件，列入"对美国国家安全构成不可接受风险"的管制清单。这意味着，今后外国无人机企业想在美国销 售新款产品，将无法获得FCC批准，直接被关上了市场大门。 不过，需要注意的是，此次禁令并非"一刀切"。此前已获得FCC授权的旧型号无人机，仍可正常进口、 销售和使用，已经购买的用户无需担心影响。但从长期来看，这无疑切断了外国无人机企业在美国市场 的技术迭代之路。 （图片来源： FCC官网 ） 针对这一决定，大疆于今日（12月23日）迅速作出回应，明确表达了遗憾之情。在 ...

Core Viewpoint - Shanghai Silang Technology Co., Ltd. has officially initiated its IPO process, aiming to enhance the domestic integrated circuit industry with its self-developed chip architecture [1][2]. Company Overview - Established on June 16, 2016, Silang Technology focuses on "independent innovation" in the semiconductor sector, with its core team originating from the Chinese Academy of Sciences [2]. - The founder, Dr. Wang Donglin, has over 30 years of experience in the chip field and conceptualized the idea of creating a domestic chip architecture as early as 2009 [2]. - The company has a registered capital of 14.317801 million yuan and is controlled by Wang Donglin, who holds 19.21% of the shares directly and 34.24% in total through partnerships [2]. Technological Innovation - The core technology supporting Silang Technology's market entry is its 100% self-owned intellectual property of the MaPU architecture, which is a trillion-level algebraic operation microprocessor [4]. - This "soft ASIC" architecture combines the high performance of ASICs, the programmability of FPGAs, and the flexibility of CPUs, achieving over 90% resource utilization, significantly higher than traditional architectures [4]. - The MaPU architecture has led to the filing of over 240 core invention patents, ensuring complete autonomy from foreign technologies [4]. Product and Market Strategy - Silang Technology has developed a mature product matrix, with its UCP series chips being widely adopted by major enterprises, including the three major telecom operators and Lenovo [5]. - The upcoming "Xinxin" UCP8016 chip, set to launch in 2024, will be the first domestic "communication + AI" integrated chip, featuring 100 TOPS computing power and 8T8R capabilities [5]. - The company's products are involved in key projects such as the "Thousand Sails Constellation" low-orbit satellite internet initiative, providing essential computing power for integrated communication [5]. Future Outlook - Silang Technology has taken 15 years to evolve from a technical concept in 2009 to a market-ready entity in 2016, now poised for an IPO [7]. - With capital support and ongoing technological advancements, the company is expected to play a significant role in the competitive landscape of advanced integrated circuits, contributing to the high-quality development of domestic chips [7].

Core Viewpoint - The article discusses the IPO of Birun Technology, a leading domestic GPU company, which aims to reshape the valuation landscape of domestic GPUs in the context of increasing AI computing power demand and accelerated domestic substitution [1][10]. Group 1: IPO Details - Birun Technology plans to issue 247.69 million shares at a price range of HKD 17.00 to 19.60 per share, raising an estimated total of HKD 4.21 to 4.85 billion [1]. - The cornerstone subscription for the IPO has seen unprecedented enthusiasm, with 23 top investment institutions planning to subscribe for HKD 28.99 billion, resulting in a cornerstone subscription ratio of approximately 64% [1]. Group 2: Technological Innovation - Birun Technology has focused on original core architecture since its establishment in 2019, achieving a global breakthrough in Chiplet technology and developing high-performance chips with a computing density of 10 PFLOPS per chip using a 7nm process [2]. - The company has built a comprehensive software platform, BIRENSUPA, which supports major open-source frameworks, significantly reducing customer migration costs and fostering a collaborative innovation ecosystem [2]. Group 3: Patent and Product Pipeline - As of December 15, Birun Technology has applied for over 1,500 patents globally, ranking first among Chinese general GPU companies, with a 100% authorization rate for invention patents [3]. - The company has a clear and forward-looking product pipeline, with the next-generation flagship product, Birun™ 20X series, expected to be commercialized in 2026, which is a key focus for the market [3][4]. Group 4: Financial Performance - Birun Technology's revenue surged from CNY 500,000 in 2022 to CNY 337 million in 2024, representing a growth of approximately 675 times [6]. - The company holds five framework sales agreements and 24 sales contracts valued at CNY 1.241 billion, providing a solid foundation for short-term performance growth [6]. Group 5: Market Position and Valuation - Birun Technology's listing in Hong Kong fills a gap in the market for pure GPU companies, providing a rare hard-tech asset and enhancing the capital layout of the AI industry [7]. - The company's strong technological originality and comprehensive product pipeline position it for a potential upward valuation breakthrough, especially with the anticipated commercialization of the Birun™ 20X series [7][8]. Group 6: Investment Considerations - Investors are encouraged to focus on three core logics: technological certainty, product growth potential, and the scarcity of domestic substitution opportunities [8]. - The commercialization of the Birun™ 20X series is expected to unlock significant growth potential, supported by a solid order backlog of CNY 12.41 billion [8][10].

Core Viewpoint - Shanghai Jiyiwei Semiconductor Co., Ltd. has officially initiated its A-share IPO process after completing the listing guidance filing with the Shanghai Securities Regulatory Bureau, with Guotai Junan Securities as the guiding institution [1]. Group 1: Company Overview - Jiyiwei Semiconductor was established in August 2019 and is headquartered in Zhangjiang Microelectronics Port, Shanghai, with R&D centers in Hangzhou and Chengdu, forming a comprehensive R&D and industrial layout [2][3]. - The company has a registered capital of 151.9382 million yuan and a paid-in capital of 147.36185 million yuan, with no controlling shareholder [2]. Group 2: Business Focus and Technology - As a national high-tech enterprise, Jiyiwei Semiconductor aims to create a domestic, self-controllable high-end analog/digital mixed-signal IC design and industrialization platform, focusing on high-performance, low-power PLL, ADC/DAC, and SerDes core products [3]. - The company specializes in high-speed SerDes technology, offering solutions for high bandwidth interfaces such as 56Gbps and 112Gbps PAM4, targeting the needs of high-speed wired communications, data centers, 5G, and optical communications [3]. Group 3: Financial Backing and Growth - Jiyiwei Semiconductor has completed five rounds of financing, attracting a prestigious lineup of shareholders, including the National Integrated Circuit Industry Investment Fund II and Shanghai Integrated Circuit Industry Investment Fund, as well as industry capital from Tencent Investment and China Mobile Capital [3]. - The company emphasizes intellectual property development, having accumulated multiple patents and software copyrights, which supports its market competitiveness in the high-end chip sector [3].

Core Insights - The recent B+ round financing of domestic high-performance MCU leader Xianji Semiconductor, led by state-owned institutions, highlights the growing interest in the MCU sector despite semiconductor cycle fluctuations [1][2][10] - The MCU market is experiencing growth driven by emerging applications, accelerated domestic substitution, and the increasing demand from sectors like industrial automation, new energy, and automotive electronics [5][9] Group 1: Market Dynamics - The MCU market's vitality is closely tied to the iterative upgrades of end application scenarios, serving as the "brain" of embedded systems [4] - The competition in the consumer electronics sector has not diminished the overall potential of the MCU market; instead, it has created new growth opportunities in high-value sectors [5] - The deepening wave of domestic substitution has opened unprecedented market space for local MCU companies, breaking the long-standing monopoly of foreign brands [6] Group 2: Technological Advancements - Xianji Semiconductor has launched nearly 100 product models across six series in five years, with a focus on applications in servo drives, photovoltaic inverters, and instrumentation [5] - The company's HPM6E00 series MCU has become a benchmark product for domestic substitution in industrial control, having received formal authorization as an EtherCAT slave controller [6] - The core R&D team of Xianji Semiconductor, comprising 90% of its workforce, has over 15 years of SoC project experience, enabling the development of high-performance MCUs based on RISC-V architecture [8] Group 3: Future Outlook - The financing case of Xianji Semiconductor demonstrates that focusing on high-value sectors and adhering to technological self-innovation allows MCU companies to navigate industry cycles and seize opportunities during industrial transformations [10] - The continuous breakthroughs in core technologies and the ongoing improvement of the ecosystem for domestic MCUs are expected to expand their market space, positioning them as a crucial force in China's semiconductor industry [10]

Core Viewpoint - The upcoming IPO review of Shenzhen Dapu Microelectronics Co., Ltd. on December 25 is a critical moment for the company and is seen as a test of the A-share market's tolerance for high-quality unprofitable tech companies [1] Group 1: Company Overview - Dapu Micro was established in 2016 and is recognized as a leading provider of enterprise-level SSD controller chips and storage solutions in China, with a full-stack self-research capability [2] - The company has shipped over 4,900 PB of enterprise SSDs, with more than 75% of shipments utilizing self-developed controller chips, positioning it well in the domestic storage replacement wave [2] - Dapu Micro has a strong client base, including major internet companies and key industries such as finance and power, and has invested over 700 million yuan in R&D [2] Group 2: Financial Performance - From 2022 to the first half of 2025, Dapu Micro incurred cumulative losses of nearly 1.7 billion yuan, with retained earnings at -945 million yuan and continuous negative cash flow exceeding 1.8 billion yuan [2] - The company has a high short-term debt ratio of 95.76% as of June 2025, indicating significant pressure on its cash flow [2] Group 3: Profitability Goals - Dapu Micro aims to achieve profitability by 2026, with a projected revenue increase to 2.732 billion yuan and an expected gross margin improvement due to a rise in high-end product sales [3] - The company has secured 1.941 billion yuan in orders and anticipates a quarterly revenue nearing 900 million yuan in Q4, with a gross margin expected to rise to 7.68% [3] Group 4: Market Challenges - The company's profitability is highly dependent on fluctuations in NAND Flash prices, which have led to negative gross margins in recent periods [4] - Despite an industry growth rate of 187.9% in 2024, Dapu Micro's revenue growth is only projected at 85.3%, with its market share declining from 6.4% to 3.0% [6] Group 5: Implications for the Industry - Regardless of the outcome of Dapu Micro's IPO, it will provide valuable insights for unprofitable tech companies seeking to list, influencing future capital flows towards core technology sectors [7] - The review results will help balance support for tech innovation with financial risk prevention in the A-share market [7]

Group 1 - Samsung officially launched the Exynos 2600, the world's first mobile system-on-chip (SoC) using 2nm process technology, based on Samsung's Gate-All-Around (GAA) manufacturing process [1] - The 10-core ARM architecture chip aims to enhance performance and energy efficiency for upcoming flagship devices like the Galaxy S26 series [1] - The chip features Arm's latest cores and supports a new instruction set, claiming a CPU performance increase of up to 39% and an NPU performance increase of up to 113%, enabling it to handle larger and more efficient AI workloads [1] - The GPU is based on the latest Xclipse design, which Samsung states can double graphics performance and improve ray tracing performance by up to 50% [1] Group 2 - Early Exynos processors faced criticism for high heat generation and performance degradation, especially compared to Apple's chips [3] - To address these issues, Samsung introduced a new cooling solution called Heat Path Block (HPB), which uses high dielectric constant EMC materials to improve heat dissipation, allowing the Exynos 2600 to maintain higher performance levels under sustained high loads [3] - Apple is expected to adopt 2nm process technology for multiple devices by 2026, specifically using TSMC's 2nm (N2) process, with reports indicating that Apple has secured a significant portion of TSMC's initial N2 production capacity [3] - The upcoming iPhone 18 series is anticipated to feature the A20 and A20 Pro chips, which will be the first Apple chips to utilize this process technology [3] - Compared to current 3nm chips, TSMC's 2nm process can achieve up to a 15% performance increase at the same power consumption or reduce power consumption by 25% to 30% at the same performance level, along with a 15% increase in transistor density [3] Group 3 - Apple's first 2nm chip is likely to be used in the iPhone 18 Pro series and the first foldable iPhone, expected to be released by the end of 2026 [4] - Future Mac computers may also feature the M6 series chips utilizing TSMC's 2nm process, although there is currently no confirmed information regarding this [4]

Core Viewpoint - The article highlights the progress of domestic EDA (Electronic Design Automation) companies in China, particularly focusing on the IPO process of Chip and Semiconductor Technology (Shanghai) Co., Ltd., which has completed its IPO counseling and is now entering the Sci-Tech Innovation Board application process, indicating a rapid acceleration in the industry's capitalization process [1]. Group 1: Company Overview - Chip and Semiconductor Technology specializes in EDA software development, covering a full chain of business from chip design to system-level design, with a core focus on advanced packaging simulation and system-level EDA tools [2][3]. - The company has developed multi-physical engine technologies for SI/PI/electromagnetic/thermal/stress simulations, creating a comprehensive EDA solution that supports high-performance computing chip design, applicable in sectors like 5G, smartphones, IoT, AI, and data centers [3]. Group 2: Industry Recognition and Partnerships - The company has received recognition as a national-level "specialized and innovative" small giant enterprise and has won the National Science and Technology Progress Award for its project on RF system design automation, establishing itself as a benchmark in the domestic EDA field [4]. - Partnerships have been formed with notable companies such as SMIC and Samsung, and it is the first domestic EDA company to join the UCIe Chiplet industry alliance, enhancing its influence in the industry [4]. Group 3: Financial Performance and Growth - The company has completed multiple rounds of financing, with over 100 million yuan raised in its B round in 2021, and the latest round in October 2022 involved investments from various notable institutions, providing strong support for its technological development [4]. - Projected revenues for 2023 and 2024 are 106 million yuan and 265 million yuan respectively, with the latter year expected to achieve profitability, indicating significant improvement in its commercial capabilities [4]. Group 4: Market Context - The A-share market has seen the emergence of three listed EDA companies, forming a capitalization ladder for domestic EDA enterprises, with combined revenues exceeding 900 million yuan in the first half of 2025, showcasing a strong growth trend in the industry [6]. - However, there is a noticeable differentiation in growth structure and profitability among these companies, reflecting the evolving competitive landscape within the rapidly developing domestic EDA sector [6].