证券日报网讯 1月28日，晶赛科技发布公告称，公司预计2025年归属于上市公司股东的净利润为800万 元至1000万元，同比增长35.05%至68.81%，上年同期为592.37万元。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 1月28日，晶赛科技发布公告称，2026年1月27日，公司全资子公司铜陵市峰华电子有限 公司已正式完成变更登记，并取得铜陵市铜官区市场监督管理局核发的《营业执照》。 ...

证券日报网讯 1月23日，晶赛科技发布公告称，2026年1月22日，公司收到容诚会计师事务所（特殊普 通合伙）（简称"容诚会计师事务所"）《关于变更安徽晶赛科技股份有限公司签字注册会计师的说明 函》。容诚会计师事务所作为公司2025年年度财务报表的审计机构，原委派宁云先生、童波先生、余锦 涛先生为签字注册会计师为公司提供审计服务。由于工作调整的原因，童波先生、余锦涛先生不再为公 司提供2025年年度审计服务，补充鲁意宏先生、许亚俊先生作为公司2025年年度审计项目的签字注册会 计师。变更后的签字注册会计师为：宁云先生、鲁意宏先生、许亚俊先生。 （文章来源：证券日报） ...

Core Viewpoint - The acquisition of Tongling Fenghua Electronics Co., Ltd. by Jinsai Technology for a nominal price of 1 RMB is overshadowed by the substantial debt of 41.87 million RMB that Jinsai must assume, raising questions about the strategic rationale behind the deal [2][3][5]. Financial Implications - Jinsai Technology's acquisition involves taking on 41.87 million RMB in debt, making the effective cost of the transaction significantly higher than the nominal price [4][5]. - As of September 30, 2025, Jinsai's cash reserves were only 33.65 million RMB, which is insufficient to cover the debt from the acquisition, despite a 533.48% increase from the beginning of the year [5][6]. - Fenghua Electronics has a total asset value of 56.97 million RMB and total liabilities of 62.69 million RMB, resulting in a negative net asset value of -5.72 million RMB, indicating it is a financially distressed company [5][6]. Strategic Rationale - The acquisition is positioned as a horizontal industry merger, aimed at resource integration to enhance Jinsai's competitiveness in the quartz crystal oscillator market, which aligns with its core business [6]. - Despite the financial burden, the acquisition allows Jinsai to gain existing production capacity and customer channels at a lower cost compared to building new facilities [6][7]. - The merger is seen as a potential strategy to increase market concentration by eliminating competition, which is a common approach among leading firms in a competitive industry [6][7]. Performance Concerns - Jinsai's profitability is under pressure, with a reported net profit of 7.96 million RMB for the first three quarters of 2025, reflecting a year-on-year decline of 6.39% [7]. - The integration of a loss-making subsidiary like Fenghua Electronics, which is projected to incur losses exceeding 6 million RMB, could negatively impact Jinsai's overall financial performance [7][10]. - Successful integration could lead to cost reductions and new growth opportunities, but failure to integrate could result in ongoing cash flow issues for Jinsai [10].

Core Viewpoint - Jinsai Technology (920981) has signed a contract to acquire 100% equity of Tongling Fenghua Electronics Co., Ltd. for 1 yuan, while also assuming a debt of 41.8717 million yuan [1] Group 1: Acquisition Details - The acquisition is conducted through a public bidding process [1] - The transaction price for the acquisition is set at 1 yuan [1] - Jinsai Technology will take on a debt of 41.8717 million yuan associated with Fenghua Electronics [1] Group 2: Company Profile - Fenghua Electronics primarily engages in the production, research, and sales of quartz crystal oscillator products [1] - The acquisition is part of Jinsai Technology's strategic decision to enhance its business layout and market competitiveness [1]

晶赛科技公告，为进一步整合行业资源，提升公司竞争力，公司通过公开摘牌方式收购铜陵市峰华电子 有限公司100%股权，并于2025年12月26日与安徽铜峰电子股份有限公司签署《产权交易合同》。本次 交易转让价款为1元人民币，同时公司为峰华电子承担4187.17万元债务，最终成交金额为4187.17万元。 峰华电子将成为公司全资子公司。 ...

（文章来源：证券日报） 证券日报网讯 12月19日晚间，晶赛科技发布公告称，公司第四届董事会第三次会议审议通过《关于通 过公开摘牌方式收购铜陵市峰华电子有限公司100%股权的议案》。 ...

Core Insights - The domestic market for high-end quartz crystal resonators is experiencing strong demand, prompting local manufacturers to expand production capacity and increase R&D investment to enhance their supply capabilities in the high-end market [1][10] - The quartz crystal resonator industry in China has grown from 5.496 billion yuan in 2015 to 8.288 billion yuan in 2024, with a compound annual growth rate (CAGR) of 4.67% [1][10] - Emerging applications in 5G communication, wearable electronics, automotive electronics, and the Internet of Things (IoT) are driving significant market opportunities for the quartz crystal resonator industry [1][10] Industry Overview - Quartz crystal components, known as crystal oscillators, are frequency control devices made from quartz crystals utilizing the piezoelectric effect [2][4] - The industry is categorized into quartz crystal resonators and oscillators, with further classifications based on frequency and packaging methods [2][4] Industry Policies - The Chinese government has increased policy support for the quartz crystal resonator industry, promoting new electronic components and smart manufacturing [7] - Key policies include the inclusion of new electronic components in the encouraged category of the 2024 Industrial Structure Adjustment Guidance Catalog and the 2025-2026 Action Plan for Stable Growth in the Electronic Information Manufacturing Industry [7] Industry Chain - The quartz crystal resonator industry chain consists of upstream raw materials (quartz sand, packaging materials), midstream manufacturing, and downstream applications (communication devices, consumer electronics) [6][8] Current Industry Development - Since 2018, Japanese companies have reduced capital expenditures, creating opportunities for Chinese manufacturers to expand in the quartz crystal resonator market [10] - From 2015 to 2024, China's production of quartz crystal resonators increased from 11.94 billion units to 23.298 billion units, with a CAGR of 7.71% [10] Competitive Landscape - The industry features a tiered competitive structure, with international giants leading the high-end market and domestic companies like Unisoc, Dongjing Electronics, and others gaining ground in mid to high-end segments [10][11] - Domestic companies are increasing R&D investments to enhance product consistency and reliability, narrowing the gap with international competitors [10] Development Trends - The industry is moving towards miniaturization, high frequency, low phase noise, and low aging rates to meet the demands of advanced applications [13][14][17] - Manufacturers are focusing on advanced packaging technologies and optimizing design processes to achieve these goals [13][14][17]

Core Viewpoint - Jinsai Technology announced an additional investment in Meijing Electronics (Thailand) Co., Ltd, increasing its registered capital to 70 million Thai Baht, with Jinsai holding an 80% stake [1] Group 1 - The additional investment amounts to 56 million Thai Baht from Jinsai Technology [1] - The remaining 14 million Thai Baht will be contributed by Hefei Jingweite Electronics Co., Ltd, which will hold a 20% stake [1]

Core Viewpoint - The A-share market's photoresist sector experienced a significant surge due to related rumors, indicating heightened investor interest and potential market movements in this industry [1] Company Summaries - Rongda Photoelectric saw its stock price increase by over 16% [1] - Guofeng New Materials and Xingye Co. both hit the 10% daily limit up [1] - Nanda Optoelectronics' stock rose by more than 9% [1] - Other companies such as Tongcheng New Materials, Jiaxian Co., Glinda, Aerospace Zhiguang, Gaomeng New Materials, and Jingsai Technology all experienced stock increases of over 6% [1] - Wavelength Optoelectronics, New Lai Materials, and Woge Optoelectronics saw their stock prices rise by over 5% [1]