苹果公司宣布计划6月8-12日举办年度全球开发者大会，届时该公司将展示一系列至关重要的人工智能 功能。 快手CEO立下可灵年收入翻倍"军令状" 3月25日，OpenAI宣布舍弃视频生成模型Sora的当日，快手（1024.HK）发布2025年第四季度及全年业 绩，披露旗下视频生成模型可灵AI四季度营收已达3.4亿元。快手CEO程一笑表示，截至今年1月，可灵 AI ARR已超过3亿美元，团队有信心在今年实现可灵收入超过100%的同比增长。 【点评】可灵 AI 商业化数据初步显示快手在 AI 视频生成赛道商业化的成绩，但挑战仍旧严峻：算力 成本高企、盈利未明；字节即梦 AI 等强敌环伺、技术同质化加剧；快手传统业务承压、AI 高投入或拖 累利润；内容合规、付费持续性存隐忧。因此，虽然快手可灵虽然短期领跑，但长期需平衡增长、成本 与竞争等多方面问题。 美团2025年由盈转亏 3月26日，美团发布2025年第四季度及全年业绩。公告显示，美团全年收入为3649亿元人民币，同比增 长8%。财报中最大的变化是净利润。美团表示，受即时零售行业"内卷式"竞争影响，2025年业绩由盈 转亏，全年净亏损234亿元，2024年则实现了 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 InnoScience (Suzhou) Technology Holding Co., Ltd. 英 諾 賽 科（ 蘇 州 ）科 技 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2577） 截至2025年12月31日止年度之全年業績公告 英諾賽科（蘇州）科技股份有限公司（「本公司」或「公司」）董事（「董事」）會（「董事 會」）欣然宣佈本公司及其附屬公司（統稱「本集團」、「英諾賽科」或「我們」）截至 2025年12月31日止年度（「報告期」）的經審計綜合業績，連同截至2024年12月31 日止年度的業績比較數字，如下文所示： 2025年財務及業務亮點 營收持續高速增長(+46.3%)，實現全年毛利率轉正(+7.3%)、調整後EBITDA轉 正雙里程碑 報告期內，公司憑藉在氮化鎵領域的豐厚積累和經驗，成功將氮化鎵的應用邊界 從消費電子拓展至AI數據中心，新能源汽車及機器 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 英 諾 賽 科（ 蘇 州 ）科 技 股 份 有 限 公 司 InnoScience (Suzhou) Technology Holding Co., Ltd. （股份代號：2577） （於中華人民共和國註冊成立的股份有限公司） 董事會會議通告 英諾賽科（蘇州）科技股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此 宣佈，董事會會議將於2026年3月27日（星期五）舉行，藉以（其中包括）考慮及批 准本公司及其附屬公司截至2025年12月31日止年度業績及其發佈，並考慮建議派 發末期股息（如有）。 承董事會命 英諾賽科（蘇州）科技股份有限公司 董事長兼執行董事 Weiwei Luo博士 中國，2026年3月17日 於本公告日期，本公司董事會包括執行董事Weiwei Luo博士、Jay Hyung Son先 生、吳金剛博士及鍾山先生；非執行董事汪燦博士、張彥紅女士及崔米子女士； 及獨立非執行董事黃 ...

Investment Rating - The report assigns a "Buy" rating for the company, InnoScience [1]. Core Insights - InnoScience is a leading player in the global GaN power semiconductor market, recognized for its advanced technology and comprehensive layout in the third-generation semiconductor sector. The company has achieved significant market share, with a revenue share of 33.7% and a shipment volume share of 42.4% in 2023 [11][12]. - The company is expected to experience strong revenue growth driven by increasing demand in various sectors, including data centers and humanoid robots, with projected revenues of RMB 14.2 billion, RMB 27.3 billion, and RMB 44.2 billion for 2025, 2026, and 2027 respectively [1][15]. Summary by Sections 1. Market Position - InnoScience is the first company globally to achieve mass production of 8-inch GaN-on-Si wafers and has become the top supplier in terms of GaN power semiconductor shipments and revenue [11]. - The company operates two 8-inch GaN wafer production bases in Suzhou and Zhuhai, with plans to increase monthly production capacity from 13,000 wafers in 2024 to 70,000 wafers by 2030 [12]. 2. Financial Performance - The company has shown explosive revenue growth, with revenues increasing from RMB 0.68 billion in 2021 to RMB 8.28 billion in 2024, reflecting a compound annual growth rate of 129.9% from 2021 to 2024 [15]. - Despite being in a loss-making position, the company has been reducing its losses, with a projected net profit of RMB 6.76 billion by 2027 [1][15]. 3. Downstream Applications - The demand for GaN power semiconductors is expanding across various sectors, including consumer electronics, data centers, automotive electronics, renewable energy, and humanoid robots [28]. - The global GaN power semiconductor market is expected to grow from RMB 18 billion in 2023 to RMB 501 billion by 2028, with a market penetration increase from 0.5% to 10.1% [31]. 4. Product Development and Strategy - InnoScience has developed a comprehensive product line covering voltage ranges from 15V to 1200V, targeting multiple application scenarios [12]. - The company has established strategic partnerships with major clients such as OPPO and NVIDIA, enhancing its market position and product integration capabilities [42][50].

Investment Rating - The report assigns a "Buy" rating for the company, InnoScience [1] Core Insights - InnoScience is a leading player in the global GaN power semiconductor market, recognized for its advanced technology and comprehensive layout in the third-generation semiconductor sector [11][12] - The company has achieved significant revenue growth, with projections indicating a strong upward trend in both revenue and net profit over the next few years [15][27] - The global GaN power semiconductor market is expected to grow substantially, with forecasts suggesting an increase from RMB 18 billion in 2023 to RMB 501 billion by 2028, indicating a rising market penetration [31][32] Summary by Sections 1. Company Overview - InnoScience is the first company to achieve mass production of 8-inch GaN-on-Si wafers and currently holds the largest market share in GaN power semiconductor shipments and revenue [11] - The company operates two 8-inch GaN wafer production bases in Suzhou and Zhuhai, with plans to increase monthly production capacity from 13,000 wafers in 2024 to 70,000 wafers by 2030 [12] 2. Financial Performance - Revenue has shown explosive growth, with a compound annual growth rate (CAGR) of 129.9% from 2021 to 2024, driven by the release of 8-inch capacity and the launch of products across multiple scenarios [15] - The company is expected to achieve revenues of RMB 14.2 billion, RMB 27.3 billion, and RMB 44.2 billion from 2025 to 2027, with net profits projected to turn positive by 2027 [1][15] 3. Market Position and Strategy - InnoScience's strategy focuses on "8-inch mass production + full voltage coverage + multi-scenario deployment," which supports continuous technological iteration and product upgrades [12] - The company has established deep collaborations with major clients such as OPPO and NVIDIA, enhancing its competitive edge in various applications including consumer electronics, data centers, and automotive electronics [12][50] 4. Industry Outlook - The demand for GaN power semiconductors is expected to rise significantly due to the increasing need for efficient power supply devices across various industries, driven by the fourth industrial revolution [28] - The automotive sector is projected to see substantial growth, with the market for GaN power semiconductors in electric vehicles expected to grow from RMB 40 million in 2019 to RMB 6.94 billion in 2023, reflecting a CAGR of 266% [54]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 本公司董事會（「董事會」）欣然宣佈，本公司被富時羅素納入其富時全球股票指數 系列，包括富時全球大型股指數、富時全球股票指數（大中型股）、富時全盤股票 指數（大中小型股）及富時總盤股票指數（大中小微型股），此次納入於2026年3月 20日收市後生效。 富時羅素為倫敦證券交易所集團旗下提供股市指數及相關數據服務的全資子公 司。作為全球指數行業的領導者之一，為全球投資者提供創新的基準、分析和數 據解決方案。富時羅素的數千項指數被用以衡量和基準化遍佈70多個國家及地區 的各類資產類別，業務範圍覆蓋全球98%的可投資市場，約20萬億美元資產以富 時羅素指數為基準。 董事會相信，本公司獲納入富時全球股票指數系列標誌著國際資本市場對本公司 投資價值的認可，預期將吸引被動資金配置，為本公司帶來穩定增量資金，對增 強本公司在國際資本市場的影響力、改善股東結構、提升本公司股份買賣的流動 性具有重要作用。 InnoScien ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 英諾賽科（蘇州）科技股份有限公司 呈交日期: 2026年3月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02577 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 525,541,187 | RMB | | 1 RMB | | 525,541,187 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 525,541,187 | RMB | | 1 RMB | | 525,541,187 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) ...

Core Viewpoint - InnoLux (02577) has seen a significant stock increase, attributed to its successful integration of GaN power chips into Google's AI hardware platform, marking its entry into Google's AI server and data center supply chain [1] Group 1: Company Developments - InnoLux's GaN power chips have completed important design integration with Google's AI hardware platform and a compliance supply agreement has been signed [1] - The company aims to seize strategic advantages in the future upgrade of high-voltage direct current power supplies for data centers [1] Group 2: Market Analysis - According to Zhongyou Securities, InnoLux's GaN products meet core demands across multiple fields, with the 100V GaN's 48V-12V applications entering mass production [1] - The company has collaborated with leading robotics firms to achieve mass production of robotic joint motors and dexterous hand drive solutions featuring GaN chips [1] - In the electric vehicle electronics sector, products used in laser radar and onboard chargers are experiencing rapid growth [1] - In the consumer electronics segment, InnoLux is consolidating its advantages while expanding into home appliances and energy storage markets, achieving breakthroughs and scaling across multiple applications [1]

Core Viewpoint - InnoLux (02577) has seen a significant stock increase, rising over 6% and currently trading at 71.15 HKD, with a transaction volume of 514 million HKD, following the announcement of its GaN power chips being integrated into Google's AI hardware platform and signing a compliance supply agreement, marking its entry into Google's AI server and data center supply chain [1][1][1] Group 1: Company Developments - InnoLux's GaN products are strategically positioned to meet core demands across multiple fields, particularly in AI and data centers, with the 100V GaN's 48V-12V applications entering mass production [1][1] - The company has collaborated with several leading robotics firms to achieve the world's first mass production of robotic joint motors and dexterous hand drive solutions utilizing GaN chips [1][1] - In the electric vehicle electronics sector, products used in laser radar and onboard chargers are experiencing rapid growth, while the consumer electronics segment is solidifying its advantages and expanding into home appliances and energy storage markets [1][1]

Group 1 - Semiconductor stocks in the Hong Kong market showed strong performance in the afternoon session, with notable gains across several companies [1] - InnoCare Pharma surged over 12%, indicating significant investor interest and confidence in its growth potential [1] - SMIC (Semiconductor Manufacturing International Corporation) increased by nearly 6%, reflecting positive market sentiment towards its operational performance [1] Group 2 - Hua Hong Semiconductor rose by over 5%, suggesting a favorable outlook for the company's future prospects [1] - Naura Technology gained nearly 5%, highlighting its competitive position within the semiconductor sector [1] - Tensun Intelligent Chip saw an increase of over 4%, indicating a growing recognition of its technological advancements [1]