第二届监事会第二十七次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 证券代码：688256 证券简称：寒武纪 公告编号：2025-060 中科寒武纪科技股份有限公司 中科寒武纪科技股份有限公司（以下简称"公司"）第二届监事会第二十七次会议 于 2025 年 10 月 31 日上午 11 时以现场与通讯相结合的方式在公司会议室召开。会议通 知已于 2025 年 10 月 26 日送达。本次会议由监事会主席王敦纯先生主持，会议应到监 事 3 人，实到监事 3 人。本次会议的召集、召开符合有关法律、行政法规、部门规章、 规范性文件和公司章程的规定。 二、监事会会议审议情况 经与会监事认真审议，审议通过了以下议案： （一）审议并通过《关于增加募集资金投资项目实施主体及实施地点的议案》 公司监事会认为：根据《上市公司募集资金监管规则》等法律法规和规章制度的规 定，为优化资源配置、提高募集资金使用效率，同意新增公司的全资子公司上海寒武纪 信息科技有限公司（以下简称"上海寒武纪"）及其深圳分公司、 ...

Core Viewpoint - The article discusses the significant changes in the holdings of prominent investor Zhang Jianping during the third quarter, highlighting a major reduction in the number of stocks held and a focus on key investments in companies like Cambricon Technologies and Huayou Cobalt [1][3]. Group 1: Holdings Adjustment - Zhang Jianping's third-quarter report shows a drastic reduction in his portfolio, retaining only two stocks: Cambricon Technologies (688256.SH) and newly acquired Huayou Cobalt (603799.SH) [1][2]. - He exited from at least eight companies in the top ten circulating shareholders, including companies in the AI and humanoid robot sectors, indicating a strategic shift [2][3]. Group 2: Performance of Key Holdings - Cambricon Technologies saw a significant increase in holdings, with Zhang owning 640.65 million shares by the end of the third quarter, an increase of 32.02 million shares from the previous quarter, making him the fifth-largest shareholder [3][4]. - The company reported a staggering revenue of 4.607 billion yuan for the first three quarters, a year-on-year increase of 2386.38%, and a net profit of 1.605 billion yuan, marking a turnaround from losses [4]. Group 3: New Investment in Huayou Cobalt - Zhang Jianping's new investment in Huayou Cobalt amounted to 18.5 million shares, representing 0.98% of the circulating stock, with a market value of 1.219 billion yuan [4]. - Huayou Cobalt reported a revenue of 58.941 billion yuan for the first three quarters, a year-on-year increase of 29.57%, and a net profit of 4.216 billion yuan, benefiting from integrated operations and rising cobalt prices [4].

Core Insights - The technology growth sector is experiencing a downturn, with the domestic AI industry-focused ETF (589520) showing a decline of 1.93% on October 31, 2025, despite a strong buying interest indicated by continuous premium pricing [1][3] - The ETF's top-performing stocks are primarily in software development, with notable gains from companies like Foxit Software (20% increase) and Hehe Information (14.14% increase), while hardware-related stocks like Stone Technology and Cambrian fell significantly [3][4] - A new five-year plan emphasizes the implementation of "AI+" initiatives, aiming for substantial progress in data-driven urban economic development by the end of 2027 [4] Stock Performance - The top ten stocks in the ETF include Foxit Software, Hehe Information, and Xianghuan Technology, all showing significant gains, while several others in the computing hardware sector faced declines [4][5] - As of October 31, 2025, all 30 constituent stocks of the ETF reported their Q3 earnings, with 20 companies profitable and 22 showing year-on-year net profit growth, led by Cambrian's impressive 321% increase [5][6] Market Outlook - Analysts predict a turning point for domestic AI applications, driven by external environmental changes and domestic policy support, suggesting a significant increase in demand for AI applications [6][7] - The ETF has outperformed other indices since its low point on April 8, 2025, with a cumulative increase of 60.36%, surpassing the broader technology indices [7][8] Policy and Industry Trends - The government is focusing on AI as a key technology for achieving self-sufficiency and security in the context of technological friction, with the ETF strategically positioned in the domestic AI supply chain [7] - The report from QuestMobile indicates that the number of active mobile AI application users in China has surpassed 729 million as of September 2025, highlighting the growing adoption of AI technologies [5]

Core Insights - Nearly 80% of listed companies reported profits in the first three quarters, with over 50% showing positive net profit growth [1] - Total revenue and net profit of listed companies increased by 1.77% and 6.37% year-on-year, respectively [1] Group 1: Company Performance - Over 4,100 listed companies achieved profitability, accounting for nearly 80% of the total [1] - 2,853 companies reported net profit growth compared to the first three quarters of 2023, representing 54% [1] - Leading companies such as the four major state-owned banks and three major telecom operators showed double growth in both revenue and net profit [1] - Notable companies like Ningde Times, Cambrian, and Industrial Internet reported net profit growth exceeding 100% [1][2] Group 2: Industry Performance - More than 90% of the 31 primary industries reported overall profitability, with 17 industries showing year-on-year net profit growth [2] - Industries such as comprehensive, steel, non-ferrous metals, media, non-bank financials, electronics, and computers had significant net profit growth rates, reaching up to 2843% [2] - Nearly 700 companies saw their net profits double, with over 110 companies achieving net profit growth exceeding five times [2] Group 3: Major Companies - Among companies with a market capitalization exceeding 500 billion, Cambrian had the highest growth rate, with a net profit increase of 321.49% [2] - Zhongji Xuchuang and China Life ranked second and third, with net profit growth of 90.05% and 60.54%, respectively [2] - Companies like China Shenhua and Sinopec experienced declines in net profit growth, with decreases of 9.98% and 32.23% [2]

Group 1 - The core point of the article highlights the significant changes in the holdings of prominent investor Zhang Jianping, known as "Zhang the Leader," during the third quarter, where he reduced his positions from 9 companies to just 2, maintaining only Cambricon (688256.SH) and newly investing in Huayou Cobalt (603799.SH) [1] - Zhang Jianping exited from at least 8 companies that were previously in his top ten shareholders list, many of which were in popular sectors like AI and humanoid robots, indicating a strategic shift in his investment approach [1] - The stocks he exited saw substantial price increases, with Zhejiang Rongtai rising by 153.73% and Ningbo Huaxiang by over 120%, showcasing his ability to capture wave profits [1] Group 2 - Zhang Jianping increased his stake in Cambricon, holding 6.4065 million shares by the end of Q3, which is a 32,020-share increase from Q2, making him the fifth-largest shareholder with a market value of 8.8 billion yuan at the end of October [2] - Cambricon's performance was exceptional, with a reported revenue of 4.607 billion yuan for the first three quarters, a staggering year-on-year growth of 2386.38%, and a net profit of 1.605 billion yuan, marking a turnaround from losses [2] - Huayou Cobalt also showed strong performance, with a revenue of 58.941 billion yuan for the first three quarters, a 29.57% increase year-on-year, and a net profit of 4.216 billion yuan, up 39.59%, benefiting from integrated operations and rising cobalt prices [3] Group 3 - Despite the market viewing Zhang Jianping's holdings as a potential indicator, the delayed nature of periodic report disclosures and past regulatory penalties faced by him and his family members should be considered [4] - In August 2024, Zhang Jianping was fined for violating securities laws by using his father-in-law's account for trading, which may have influenced his investment decisions and the visibility of his family members in shareholder lists [4]

Group 1 - The average stock price of the Sci-Tech Innovation Board is 41.24 yuan, with 76 stocks priced over 100 yuan, and the highest priced stock is Cambrian-U at 1375.00 yuan, which fell by 3.31% today [2][3] - Among the stocks priced over 100 yuan, 367 stocks rose while 220 stocks fell today, with an average decline of 0.64% for the hundred-yuan stocks [2][3] - The average premium of the hundred-yuan stocks relative to their issue price is 474.74%, with the highest premiums seen in stocks like Shangwei New Materials (4230.47%), Cambrian-U (2035.42%), and GuoDun Quantum (1503.50%) [2][3] Group 2 - The net outflow of main funds from the hundred-yuan stocks today totaled 79.15 billion yuan, with the highest net inflows seen in Kingsoft Office (243.38 million yuan), BeiGene-U (206.17 million yuan), and C He Yuan-U (187.50 million yuan) [3] - The total margin balance for hundred-yuan stocks is 999.44 billion yuan, with the highest margin balances in SMIC (149.68 billion yuan), Cambrian-U (142.52 billion yuan), and Haiguang Information (86.65 billion yuan) [3]

Group 1 - The core focus of the article is on the investment performance of Zhang Jianping ("Zhang Mengzhu") in the third quarter, particularly highlighting his significant holdings in Cambricon Technologies and Huayou Cobalt [1][2][3] - Cambricon Technologies emerged as the "first AI chip stock," surpassing Kweichow Moutai to become the highest-priced stock, reaching a peak of 1,595.88 yuan per share [1][2] - Zhang Jianping's holdings in Cambricon increased from 6.0863 million shares to 6.4065 million shares, raising his stake from 1.46% to 1.53%, making him the fifth-largest circulating shareholder [2][3] Group 2 - Huayou Cobalt, a leading supplier of new energy materials, saw Zhang Jianping acquire 18.5 million shares valued at 1.199 billion yuan, positioning him as the fifth-largest circulating shareholder [3] - Huayou Cobalt's stock price increased over 70% in the third quarter, with the company reporting a revenue of 21.744 billion yuan, a year-on-year growth of 40.85% [3] - The demand for cobalt resources is expected to grow significantly due to the expansion of the new energy vehicle industry, indicating a strong growth potential for Huayou Cobalt [3]

Group 1 - GAC Group reported a loss of 3,643 yuan for every vehicle sold in the first three quarters, aiming for 2 million sales of its own brand by 2027 [1] - Greenland Holdings faced 1,344 new lawsuits in 20 days, with a debt-to-asset ratio of 89%, and its new business is still in the investment phase [1] - Chongqing Bank's net profit increased by 10%, but its middle-income dropped by 27.6%, and it was fined 2.2 million for violations in loan and investment businesses [1] Group 2 - Feilong Co. experienced a decline in both revenue and profit for the first time in three years, with a fundraising of 271 million for a project that has seen little progress in six months [1] - Yushu Technology is advancing its IPO with a name change, and its overseas business accounts for 50% of its operations, with accelerated product iteration [1] - CATL achieved a record profit of 200 million per day in the third quarter, entering a global expansion cycle, with Morgan Stanley optimistic about its prospects [1] Group 3 - Industrial Fulian reported positive performance and declared its first interim dividend, accumulating nearly 150 billion in profits and distributing 63.1 billion [1] - Estun faced 4.8 billion in interest-bearing debt, having sold assets twice to recover 340 million in funds [1] - GoerTek terminated a 10 billion acquisition, while investing 24.8 billion in R&D over five and a half years across multiple business lines [1] Group 4 - Agricultural Bank made a significant move by incorporating 192 institutions in Jilin, as state-owned banks push for "village reform" in the rural credit system [1] - Aier Eye Hospital's charitable operations faced scrutiny after being penalized for insurance fraud, with weak performance leading to a stock price drop back to six years ago, and 8.7 billion in goodwill concerns [1] - R&F Properties has accumulated over 16.3 billion in execution amounts, with a 19 billion acquisition of Wanda Hotels accelerating asset sales for liquidity [1] Group 5 - Cambrian Technology reported a profit of 1.6 billion in the first three quarters, an increase of over three times, with investor Zhang Jianping increasing his stake, resulting in a cumulative profit of 3.6 billion [1] - WuXi AppTec has reduced its holdings in WuXi AppTec by 64 billion through four transactions, with a workforce reduction of 6,529 over two and a half years, and CEO Li Ge's salary at 42 million [1]

Core Viewpoint - The Integrated Circuit ETF (159546) opened at 1.930 yuan, experiencing a slight decline of 0.31% on October 31, 2023 [1] Group 1: ETF Performance - The performance of the Integrated Circuit ETF (159546) is benchmarked against the CSI All-Share Integrated Circuit Index return [1] - Since its establishment on October 11, 2023, the fund has achieved a return of 93.26%, while the return over the past month has been -3.63% [1] Group 2: Major Holdings - Key stocks within the Integrated Circuit ETF include: - SMIC (中芯国际) down 0.40% - Cambrian (寒武纪) down 0.99% - Haiguang Information (海光信息) down 0.08% - Lattice Technology (澜起科技) down 2.63% - GigaDevice (兆易创新) down 0.43% - Haowei Group (豪威集团) down 0.79% - Chipone (芯原股份) up 0.77% - JCET (长电科技) down 0.72% - Unisoc (紫光国微) down 0.15% - Tongfu Microelectronics (通富微电) down 2.06% [1]

Market Overview - The Shanghai Composite Index fell by 0.73% to close at 3986.9 points, with a daily high of 4025.7 points [1] - The Shenzhen Component Index decreased by 1.16% to 13532.13 points, reaching a maximum of 13700.25 points [1] - The ChiNext Index dropped by 1.84% to 3263.02 points, with a peak of 3331.86 points [1] Margin Trading and Securities Lending - The total margin trading and securities lending balance in the Shanghai and Shenzhen markets was 24911.76 billion yuan, with a financing balance of 24732.7 billion yuan and a securities lending balance of 179.06 billion yuan, reflecting a decrease of 75.56 billion yuan from the previous trading day [2] - The Shanghai market's margin trading balance was 12657.39 billion yuan, down by 39.35 billion yuan, while the Shenzhen market's balance was 12254.37 billion yuan, decreasing by 36.21 billion yuan [2] - A total of 3456 stocks had financing funds for purchase, with the top three being Xinyi Technology (53.65 billion yuan), Zhongji Xuchuang (46.23 billion yuan), and Sunshine Power (36.47 billion yuan) [2] Fund Issuance - Four new funds were issued yesterday, including two mixed funds and two stock funds, all launched on October 30, 2025 [3][4] Top Trading Activities - The top ten net buying amounts on the Dragon and Tiger List included Jiangte Electric (27681.86 million yuan), Tianji Shares (20137.13 million yuan), and Guodun Quantum (16408.1 million yuan) [5] - The highest price increase was seen in Jiangte Electric with a rise of 9.98%, followed by Tianji Shares with a 10.0% increase [5]