证券代码：600563 证券简称：法拉电子 编号：2025-017 厦门法拉电子股份有限公司 关于对外投资设立新加坡全资子公司 并调整境外子公司股权架构的公告 本公司董事会及全体董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、准确性和完整性承担法律责任。 重要内容提示： ? 投资标的名称： Faratronic (Singapore) Pte. Ltd. [中文名：法拉 电子（新加坡）有限公司] 一、本次对外投资情况 子股份有限公司（以下简称"公司"）拟以自有资金不超过 2 亿元人民币在新加 坡投资设立全资子公司 Faratronic (Singapore) Pte. Ltd. [中文名：法拉电 子（新加坡）有限公司]。根据公司海外管理策略和整体布局，法拉电子（新加 坡）有限公司设立后将作为公司境外业务投资管理平台，负责海外工厂及相关资 本运作投资的管理工作。 于对外投资设立新加坡全资子公司并调整境外子公司股权架构的议案》。根据《上 海证券交易所股票上市规则》等法律法规、规范性文件及《公司章程》《总经理 工作细则》等相关规定，本次对外投资事项无需提交股东会决议。 规定的重大 ...

证券代码：600563 证券简称：法拉电子 编号：2025-017 厦门法拉电子股份有限公司 关于对外投资设立新加坡全资子公司 并调整境外子公司股权架构的公告 本公司董事会及全体董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、准确性和完整性承担法律责任。 重要内容提示： 投资标的名称： Faratronic (Singapore) Pte. Ltd. [中文名：法拉 电子（新加坡）有限公司] 投资金额：不超过人民币 2 亿元 相关风险提示： 1、本次对外投资设立境外子公司事项尚需获得国内外的合规审核后方可实 施，能否通过合规审核，以及最终通过合规审核的时间存在不确定性。 2、新加坡的法律法规、政策体系、商业环境、文化特征等与国内存在较大 差异，本次投资的计划和预测存在不能按期推进和实施的风险； 3、跨国经营管理过程中可能面临宏观经济及行业政策变化、市场竞争等不 确定因素影响，存在一定的管理、运营及市场风险。 一、本次对外投资情况 1、为充分适应国际环境变化，基于开展境外业务的整体规划，厦门法拉电 子股份有限公司（以下简称"公司"）拟以自有资金不超过 2 亿元人民币在新加 坡 ...

（一）本次董事会会议的召开符合《公司法》等有关法律、法规、规章以及 《公司章程》的有关规定。 证券代码：600563 证券简称：法拉电子 编号：2025-016 厦门法拉电子股份有限公司 第九届董事会 2025 年第三次会议决议公告 本公司董事会及全体董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、准确性和完整性承担法律责任。 一、 董事会会议召开情况 审议并通过了《关于法拉电子对外投资设立新加坡全资子公司并调整境外子 公司股权架构的议案》，并授权公司经理层开展相关工作。 （二）厦门法拉电子股份有限公司（以下简称"公司"）于 2025 年 8 月 4 日以专人送达、传真或邮件的方式向全体董事发出关于召开公司第九届 2025 年 第三次董事会会议的通知。 （三）本次董事会会议于 2025 年 8 月 14 日以现场结合通讯方式召开。 （四）本次董事会会议应到董事 9 人，实到董事 9 人，公司监事及高管人员 列席了会议。 （五）本次董事会会议的主持人为卢慧雄先生。 二、 董事会会议审议情况 与会董事经过认真审议，以同意 9 票，反对 0 票，弃权 0 票，一致通过 了以下决议 ...

厦门法拉电子股份有限公司2025 年半年度报告 公司代码：600563 公司简称：法拉电子 厦门法拉电子股份有限公司 2025 年半年度报告 1 / 107 厦门法拉电子股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人卢慧雄、主管会计工作负责人王清明及会计机构负责人（会计主管人员）洪冬 青声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 本报告期，公司不进行利润分配，也不进行公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中描述可能存在的相关风险，敬请投资者 ...

Industry Rating - The industry investment rating is "Outperform the Market" [1][1] Core Insights - The European new energy vehicle market is reaching a turning point driven by stringent carbon emission assessments and the cyclical nature of vehicle models [2] - The EU's policies, including the ban on fuel vehicles and tiered carbon reduction targets, are creating rigid constraints that push for electrification [2][8] - Major automakers are accelerating their electric vehicle (EV) strategies to meet upcoming carbon targets, with significant growth in battery electric vehicle (BEV) sales [3][19] Policy and Market Dynamics - The EU's tightening carbon reduction policies are compelling automakers to expedite their transition to new energy vehicles [7] - The EU has set ambitious carbon emission targets, including a ban on new fuel vehicles by 2035 and specific CO2 emission limits for new cars starting in 2025 [8][11] - The introduction of the ZLEV coefficient incentivizes manufacturers to increase the share of zero and low-emission vehicles in their fleets [15] Automaker Performance - Volkswagen delivered 465,500 BEVs globally in the first half of 2025, with a significant contribution from Europe, achieving a year-on-year growth of 89% [3][32] - Stellantis has improved its market share in Europe, ranking first in the hybrid market and second in the BEV market, supported by a multi-platform strategy [3][33] - Renault's BEV sales in Europe increased by 88% in Q1 2025, with a focus on affordable models and a strong platform strategy [3][42] Supply Chain and Component Manufacturers - Companies like Minth and Weimars are benefiting from the growth in the new energy vehicle supply chain, with significant revenue increases projected [4][49] - Minth's battery box business is expected to generate 5.338 billion yuan in revenue in 2024, reflecting a 50.96% year-on-year growth [4][48] - Weimars is positioned as a leading supplier in the domestic market, with a market share of 29.41% in the third-party vehicle charging market [4][52] Future Outlook - The report anticipates continued growth in the European new energy vehicle market, driven by regulatory pressures and technological advancements [2][19] - The performance of key players in the supply chain is expected to improve as the demand for new energy vehicles rises [4][59]

Group 1 - The core viewpoint of the news is that Xiamen Farah Electronics Co., Ltd. has shown significant revenue and profit growth in its latest quarterly report, indicating a positive financial performance [1][3] - As of August 8, 2025, the company's stock price closed at 108.19 yuan, down 1.09%, with a trading volume of 15,800 hands and a transaction amount of 172 million yuan [1] - The company's total operating revenue for the first quarter of 2025 was 1.204 billion yuan, representing a year-on-year growth of 22.78%, while the net profit attributable to shareholders was 264 million yuan, also up 22.61% [1] Group 2 - The company has a current ratio of 2.447 and a quick ratio of 2.075, indicating strong liquidity [1] - The asset-liability ratio stands at 30.44%, suggesting a relatively low level of debt [1] - Xiamen Farah Electronics has made investments in five companies and participated in 118 bidding projects, showcasing its active engagement in the market [2]

Core Viewpoint - The financing data for Farah Electronics indicates a net inflow of 14.83 million yuan, ranking 488th in the market, with a significant outflow of funds in recent days, suggesting potential investor concerns [1] Financing Activity - Last week, Farah Electronics had a total financing buy amount of 96.05 million yuan and repayment amount of 81.22 million yuan [1] - Over the past 5 days, the main capital outflow reached 96.14 million yuan, with a decline of 9.44% [1] - In the last 10 days, the main capital outflow totaled 117 million yuan, with a decrease of 5.47% [1] Company Profile - Farah Electronics, established in 1998, is located in Xiamen and primarily engages in the manufacturing of computers, communications, and other electronic devices [1] - The company has a registered capital of 225 million yuan, which is also the paid-in capital [1] - The legal representative of the company is Lu Huixiong [1] Investment and Intellectual Property - Farah Electronics has invested in 5 external companies and participated in 118 bidding projects [1] - The company holds 7 trademark registrations and 227 patents, along with 34 administrative licenses [1]

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry in China [4] Core Viewpoints - The demand for AI computing facilities is expected to drive the growth of SiC/GaN power devices, opening up new growth opportunities in the industry [2][24] - The report emphasizes that the application potential of SiC/GaN in AI computing facility power supply systems has not been fully explored, and future demand is likely to continue increasing [7][24] Summary by Sections Investment Recommendations and Targets - AI server and data center demand is anticipated to create growth opportunities for SiC/GaN power devices. Key companies to watch include: - GaN industry leader Innoscience - Major power device manufacturers such as Wingtech Technology, China Resources Microelectronics, New Clean Energy, Star Semiconductor, and Tianyue Advanced - Wafer foundry company Chipone Integrated Circuits focusing on SiC power devices - Passive component companies like Farah Electronics and Jianghai Co., Ltd. - Companies in the third-generation semiconductor equipment market like Zhongwei Company [2][29] Industry Dynamics - The report highlights that AI computing facilities will increase the demand for SiC/GaN devices, particularly in high-voltage direct current (HVDC) and power module applications [7][8] - The transition from traditional power supply architectures to higher voltage systems (800V DC) is expected to enhance power transmission efficiency, thus driving the adoption of SiC/GaN devices [10][14] - The report notes that the penetration rate of SiC in global power semiconductors is projected to reach 4.9% by 2024, while GaN's penetration is at 0.5% in 2023, indicating room for growth [21][22] Company Insights - Innoscience is recognized as the global leader in the GaN industry, with a revenue of 830 million yuan in 2024, reflecting a year-on-year growth of 39.8% [30][34] - Wingtech Technology is focusing on semiconductor business growth, with a revenue of 58.4 billion yuan in 2024, and is strategically transforming to enhance its position in the power semiconductor industry [40][44] - China Resources Microelectronics is experiencing steady revenue growth, achieving 10.12 billion yuan in 2024, with a focus on enhancing its SiC/GaN product capabilities [50][51]

Group 1 - Farah Electronics has experienced a decline for five consecutive trading days, with a cumulative drop of -3.79% [1] - The company is recognized as a leading manufacturer of professional film capacitors globally [1] - Two funds under Qianhai Open Source Fund have entered the top ten shareholders of Farah Electronics, with Qianhai Open Source Public Utility Stock reducing its holdings in Q2 this year [1] Group 2 - Qianhai Open Source Public Utility Stock has achieved a year-to-date return of 13.29%, ranking 321 out of 769 in its category [2] - Qianhai Open Source New Economy Mixed A has a year-to-date return of 6.71%, ranking 1003 out of 1866 in its category [2] - The performance of Qianhai Open Source Public Utility Stock shows a quarterly increase of 3.45% and a six-month increase of 15.47% [2] Group 3 - The fund manager for both Qianhai Open Source Public Utility Stock and Qianhai Open Source New Economy Mixed A is Mr. Cui Chenlong, who has been with Qianhai Open Source Fund Management since August 2017 [4][5] - Mr. Cui holds a PhD from Nanyang Technological University in Singapore and has extensive experience in investment research and management [4][5] - Qianhai Open Source Fund Management was established in January 2013 and has four shareholders, each holding 25% [5]

Group 1 - The core viewpoint indicates that the A-share market has seen a significant rise over three consecutive weeks, with a low overall systemic risk, suggesting that the current market conditions present an opportunity for further gains [1] - The report from CITIC Securities highlights a shift from a stock market focused on existing shares to one that is increasingly driven by new capital inflows, particularly benefiting the manufacturing sector, which is currently at a low valuation [1] - The valuation of the CSI 500 Quality Growth Index is noted to be at a historical low, with a price-to-book ratio (PB) of 1.9, which is below 88.84% of the time over the past three years, indicating a strong value proposition for investors [1] Group 2 - The CSI 500 Quality Growth Index consists of 100 companies selected for their high profitability, sustainable earnings, and strong cash flow, providing diverse investment options for investors [2] - As of June 30, 2025, the top ten weighted stocks in the CSI 500 Quality Growth Index account for 20.42% of the index, with notable companies including Dongwu Securities and Huagong Technology [2] Group 3 - The performance of individual stocks within the index shows varied results, with notable gainers such as Shenghong Technology increasing by 8.19%, while others like Chifeng Gold and Jiuhua Company experienced declines [4]