格隆汇8月4日丨华勤技术(603296.SH)公布，公司董事会认为公司2025年限制性股票激励计划规定的限 制性股票授予条件已成就，确定本激励计划的预留授予日为2025年8月4日，同意以39.96元/股的授予价 格向91名激励对象授予46.4350万股限制性股票。 ...

Core Viewpoint - The company, Jinghe Integrated Circuit (688249), is planning to issue H-shares and list on the Hong Kong Stock Exchange to optimize its capital structure and broaden financing channels, without changing the control of its major shareholders [2] Group 1: Company Overview - Jinghe Integrated Circuit is one of China's leading semiconductor foundries, established in May 2015, and is the first 12-inch wafer foundry in Anhui Province [2] - The company officially listed on the STAR Market in May 2023 and primarily engages in 12-inch wafer foundry services, with capabilities in various technology platforms including DDIC, CIS, PMIC, MCU, and Logic [2] - The company has achieved mass production of products such as display driver chips (DDIC), CMOS image sensors (CIS), microcontrollers (MCU), power management ICs (PMIC), and logic applications, which are widely used in consumer electronics, smartphones, smart home appliances, security, industrial control, and automotive electronics [2] Group 2: Recent Developments - The company has successfully achieved mass production of its 40nm high-voltage OLED display driver chips and 55nm full-process stacked CIS chips, with 28nm OLED display driver chips and 28nm logic chips expected to enter risk mass production by the end of this year [3] - In July, Jinghe Integrated Circuit accelerated its capital market activities, with several semiconductor companies, including Chipsea Technology and Lattice Semiconductor, also disclosing plans for Hong Kong IPOs [3] Group 3: Shareholder Changes - On the same day Jinghe Integrated Circuit announced its Hong Kong IPO, Huakin Technology, the largest mobile ODM manufacturer in China, announced a cash acquisition of 120 million shares (6% of total shares) from the Taiwanese-backed investor, Liching Innovation Investment, for 2.39 billion yuan, at a price of 19.88 yuan per share, a 10% discount to the market price [3][4] - Following the transaction, Huakin Technology will become the fourth-largest shareholder of Jinghe Integrated Circuit and gain a board nomination seat, while Liching Innovation's shareholding will decrease to 13.08% [4] Group 4: Financial Performance - In 2024, Jinghe Integrated Circuit reported approximately 9.249 billion yuan in revenue, a year-on-year increase of 27.69%, attributed to the favorable semiconductor industry conditions and increased sales [5] - The net profit attributable to shareholders was approximately 533 million yuan, a significant year-on-year increase of 151.78% [5] - In Q1 2025, the company achieved approximately 2.568 billion yuan in revenue, a year-on-year increase of 15.25%, with a net profit of approximately 135 million yuan, reflecting a 70.92% year-on-year growth [6] Group 5: Market Position - As of August 1, Jinghe Integrated Circuit's stock closed at 21.57 yuan per share, with a market capitalization of 43.3 billion yuan [7]

Group 1 - A semiconductor company, Jinghe Integrated, is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and competitiveness [1] - Other semiconductor companies, such as Chipsea Technology and Weir Shares, have also announced plans for Hong Kong IPOs this year [1] - Jinghe Integrated is in discussions with intermediaries regarding the specifics of the H-share listing, which will not change the control of the company [1] Group 2 - Just days before the IPO announcement, Jinghe Integrated secured a strategic investment from Huaqin Technology, acquiring 6% of its shares for a total of 2.39 billion yuan at 19.88 yuan per share [2] - This marks Huaqin Technology's first venture into the semiconductor wafer manufacturing sector, enhancing its strategic collaboration with Jinghe Integrated [2] - The investment includes a commitment from Huaqin Technology to nominate a director and a 36-month lock-up period for the shares [2] Group 3 - Jinghe Integrated is a leading semiconductor wafer manufacturer, producing various chips used in consumer electronics and industrial applications [3] - The company expects its revenue for the first half of 2025 to be between 5.07 billion and 5.32 billion yuan, representing a year-on-year growth of 15.29% to 20.97% [3] - The projected net profit for the same period is estimated to be between 260 million and 390 million yuan, with a year-on-year increase of 39.04% to 108.55% [3] Group 4 - The increase in revenue is attributed to rising industry demand, higher sales volume, and maintained high capacity utilization [4] - The company has focused on expanding its application areas and developing advanced products, with significant growth in its CIS product line [4] - Research and development investment has increased by approximately 15% compared to the previous year, ensuring continuous innovation and competitive advantage [4]

Core Insights - The consumer electronics sector experienced a decline of 1.51% on August 1, with Dingjia Precision leading the drop [1] - The Shanghai Composite Index closed at 3559.95, down 0.37%, while the Shenzhen Component Index closed at 10991.32, down 0.17% [1] Stock Performance - 隆扬电子 (Longyang Electronics) saw a significant increase of 12.06%, closing at 43.10 with a trading volume of 297,700 shares and a transaction value of 1.29 billion [1] - 可川科技 (Kechuan Technology) rose by 9.99%, closing at 30.29 with a trading volume of 171,500 shares and a transaction value of 515 million [1] - 鼎佳精密 (Dingjia Precision) led the decline with a drop of 14.56%, closing at 55.22 with a trading volume of 98,100 shares and a transaction value of 561 million [2] - 工业富联 (Industrial Fulian) decreased by 4.65%, closing at 33.00 with a trading volume of 2,194,000 shares and a transaction value of 7.29 billion [2] Capital Flow - The consumer electronics sector saw a net outflow of 1.188 billion from main funds, while retail investors contributed a net inflow of 1.256 billion [2]

从减持规模来看，按公告当日收盘价计算，股东单笔拟减持金额超过5亿元的公司达到18家次。以"防水 茅"东方雨虹（002271.SZ）为例，根据公司7月3日公告，控股股东李卫国拟在15个交易日后的三个月 内，以大宗交易或集中竞价方式减持不超过4638.22万股，占总股本1.94%。按公告当日11.07元/股收盘 价测算，套现金额约5亿元。 | | | | 股东拟减持超5亿元公司名单 | | | | | --- | --- | --- | --- | --- | --- | --- | | 证券代码 | 证券简称 | 公告日期 | 嚴东名称 | 套现金额上 R (147) | 張持致量占 总股本比 | 变动目的 | | | | | | | (%) | | | 601179.SH | 中国两电 | 2025-07-21 | 通用电气新加坡公司 | 10.72 | 3.00 | 自身经营发展需要 | | 600926.SH | 杭州银行 | 2025-07-16 | 中国人寿保险股份有限公司 | 8.60 | 0.70 | 中国人寿资产配置的需要 | | 688702.SH | 感 随信-U | 2025-07-26 ...

Core Viewpoint - Huqin Technology (603296.SH), a leading ODM enterprise, announced a strategic investment of nearly 2.4 billion yuan to acquire a 6% stake in the A-share Sci-Tech Innovation Board company, Jinghe Integrated (688249.SH), aiming to enhance resource integration and collaboration within the industry chain [2][4]. Investment Details - The investment involves Huqin Technology purchasing approximately 120 million shares from Lichuang Innovation Investment Holdings at a price of 19.88 yuan per share, totaling around 2.393 billion yuan, which is about 10% lower than Jinghe's closing price on July 18 [3]. - Following the transaction, Huqin Technology will become the fourth largest shareholder of Jinghe Integrated, while Lichuang's stake will decrease to 13.08% [3][4]. Strategic Intent - Huqin Technology aims to deepen resource integration and explore potential collaborations in various business projects through this investment, reflecting confidence in Jinghe Integrated's future development and long-term investment value [4][5]. - The company plans to appoint a director to Jinghe Integrated and has secured a commitment from Lichuang to maintain a minimum shareholding of 8% for three years [4]. Company Background - Established in 2005, Huqin Technology has become a global leader in the ODM industry, serving major brands like Samsung, OPPO, and Xiaomi, with a diverse product line including smartphones, laptops, and AIoT products [5][6]. - The company reported a revenue of 109.878 billion yuan in 2024, marking a 28.76% year-on-year increase, and a net profit of 2.926 billion yuan, up 8.10% [6]. Recent Performance - In the first quarter of 2025, Huqin Technology achieved significant growth, with revenues and net profits reaching 34.998 billion yuan and 842 million yuan, respectively, reflecting year-on-year increases of 115.65% and 39.05% [6]. - The company's growth trajectory has been supported by strategic acquisitions, including a planned acquisition of 80% of Yiluda International for 2.85 billion HKD and a 65% stake in Nanchang Chunqiu for approximately 348 million yuan [7]. Global Expansion - Huqin Technology has established a dual supply system with core domestic bases and overseas VMI bases in Vietnam, Mexico, and India, to meet diverse customer demands and external uncertainties [7].

ODM龙头计划入股晶圆代工企业晶合集成。 7月29日晚间，双方发布公告称，华勤技术拟以现金方式协议受让力晶创新投资控股股份有限公司（以 下简称"力晶创投"）持有的晶合集成约1.20亿股股份。转让价格为每股19.88元，总交易金额达23.93亿 元。 交易完成后，华勤技术将持有晶合集成6.00%的股份，超越美的创新投资有限公司，跃居晶合集成第四 大股东。而力晶创投的持股比例则将从19.08%降至13.08%。 公开资料显示，力晶创投是台湾晶圆大厂力积电的母公司，曾在晶合集成的成长过程中提供重要技术支 持。然而，伴随晶合集成的持续发展壮大，力晶创投却逐步寻求退出路径。此前于2024年12月，力晶创 投已通过询价转让方式减持晶合集成3009.20万股，套现约5.98亿元。 近年来，华勤技术的对外扩张步伐明显加快。除此次入股晶合集成外，2024年12月，该公司宣布以 28.50亿港元完成对易路达企业控股有限公司（以下简称"易路达"）80%股份的收购；2025年1月，又收 购了深圳豪成智能科技有限公司（以下简称"豪成智能"）75%的股权。 这一系列"买买买"动作背后，反映了华勤技术推动业务转型的战略意图。作为全球ODM ...

Group 1 - ODM leader Huaqin Technology's strategic investment in Jinghe Integrated is attracting industry and market attention despite unexpected reactions in the secondary market [1] - On the first trading day after the announcement, both companies experienced a decline, with Huaqin Technology closing down 1.20% and Jinghe Integrated down 0.27% [1] - Industry experts express skepticism regarding the collaboration's logic, questioning the specific business synergies and the necessity of such a significant equity acquisition [1][2] Group 2 - Huaqin Technology is a core supplier for several well-known cloud service providers in China, with its server ODM business showing strong growth and capabilities [2] - The company's high-performance computing products generated revenue of 63.2 billion yuan in 2024, reflecting a year-on-year growth of 28.79% [2] - Jinghe Integrated is expected to make significant progress in its 28nm logic chip technology this year, with risk production anticipated by the end of the year [3] Group 3 - The 28nm logic platform from Jinghe Integrated supports various application chips, enhancing performance and reducing power consumption [3] - Huaqin Technology's position as a global leader in ODM for smart devices and high-performance computing is expected to create substantial demand for Jinghe Integrated's chip products, indicating potential upstream and downstream synergies [3]

华勤技术（603296）（603296.SH）拟战略入股晶合集成（688249.SH）。 一家是ODM龙头，一家是国内第三大晶圆代工厂，本次交易受到市场各方关注。 根据公告，华勤技术基于对晶合集成长期投资价值的认可，与力晶创投（晶合集成股东）于2025年7月 29日签署《股份转让协议》，拟以现金方式协议受让力晶创投持有的晶合集成1.2亿股股份，占晶合集 成总股本的6.00%，转让价格为19.88元/股，转让总价为人民币23.93亿元。 7月30日，华勤技术方面向21世纪经济报道记者回应称，这是公司首次将产业触角延伸至半导体晶圆制 造领域，实现"终端产品+芯片制造"的垂直整合。本次交易完成后华勤技术将向晶合集成提名董事1名， 成为晶合集成重要战略股东及伙伴，这一战略布局不仅延续了华勤技术一直以来向产业链上游拓展和协 同的战略，更向产业链核心环节深入，将增强技术实力与产品竞争力，提高经营韧性与风险能力。 加强产业协同 公告显示，本次权益变动前，力晶创投持有晶合集成19.08%的股份，此次权益变动后，力晶创投将持 有晶合集成13.08%的股份，华勤技术持有晶合集成6%股份。 公开资料显示，华勤技术是全球领先的智能产 ...

21世纪经济报道记者张赛男上海报道 华勤技术（603296.SH）拟战略入股晶合集成（688249.SH）。 一家是ODM龙头，一家是国内第三大晶圆代工厂，本次交易受到市场各方关注。 根据公告，华勤技术基于对晶合集成长期投资价值的认可，与力晶创投（晶合集成股东）于2025年7月 29日签署《股份转让协议》，拟以现金方式协议受让力晶创投持有的晶合集成1.2亿股股份，占晶合集 成总股本的6.00%，转让价格为19.88元/股，转让总价为人民币23.93亿元。 7月30日，华勤技术方面向21世纪经济报道记者回应称，这是公司首次将产业触角延伸至半导体晶圆制 造领域，实现"终端产品+芯片制造"的垂直整合。本次交易完成后华勤技术将向晶合集成提名董事1名， 成为晶合集成重要战略股东及伙伴，这一战略布局不仅延续了华勤技术一直以来向产业链上游拓展和协 同的战略，更向产业链核心环节深入，将增强技术实力与产品竞争力，提高经营韧性与风险能力。 加强产业协同 公告显示，本次权益变动前，力晶创投持有晶合集成19.08%的股份，此次权益变动后，力晶创投将持 有晶合集成13.08%的股份，华勤技术持有晶合集成6%股份。 华勤技术承诺，通过本 ...