Group 1 - The controlling shareholder of Haowei Group, Mr. Yu Renrong, holds approximately 333 million shares, accounting for 27.65% of the company's total share capital [1] - Following the recent pledge changes, Mr. Yu has pledged a total of about 178 million shares, representing 53.37% of his holdings [1] - Together with his concerted parties, they hold around 409 million shares, which is 33.88% of the total share capital, and have pledged approximately 217 million shares, accounting for 53.21% of their total holdings and 18.03% of the company's total share capital [1] - As of the report, Haowei Group has a market capitalization of 159.2 billion yuan [1]

Group 1 - The core point of the announcement is that the employee stock ownership plan of Haowei Integrated Circuit (Group) Co., Ltd. will expire on March 8, 2026, and the company is required to disclose the number of shares held and their proportion of the total share capital six months prior to expiration [1][2] - As of the announcement date, the employee stock ownership plan holds 158,500 shares, which accounts for 0.01% of the company's total share capital [2] - The company has adhered to market trading rules and regulations during the implementation of the employee stock ownership plan, ensuring no insider information was used for trading [2] Group 2 - The company will terminate the employee stock ownership plan upon expiration, and the management committee will handle the remaining rights in accordance with relevant regulations [2]

| 证券代码：603501 | 证券简称：豪威集团 公告编号：2025-086 | | --- | --- | | 转债代码：113616 | 转债简称：韦尔转债 | 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。 豪威集成电路（集团）股份有限公司（以下简称"公司"）2022 年员工持股 计划的存续期将于 2026 年 3 月 8 日届满，根据中国证监会《关于上市公司实施 员工持股计划试点的指导意见》及《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等规定，上市公司应当在员工持股计划届满前 6 个月公告到期计 划持有的股票数量以及占公司股本总额的比例，公司现将相关情况公告如下： 一、员工持股计划的基本情况 1、公司分别于 2022 年 10 月 10 日召开第六届董事会第八次会议、2022 年 10 月 26 日召开 2022 年第五次临时股东大会，审议通过了《关于公司<2022 年员 工持股计划（草案）及其摘要的议案》《关于公司<2022 年员工持股计划管理办 法>的议案》等相关议案，具体内容详见公司于 2022 ...

| 证券代码：603501 | 证券简称：豪威集团 | 公告编号：2025-087 | | --- | --- | --- | | 转债代码：113616 | 转债简称：韦尔转债 | | 关于控股股东部分股权质押及解除质押的公告 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： 豪威集成电路（集团）股份有限公司 豪威集成电路（集团）股份有限公司（以下简称"公司"）控股股东虞 仁荣先生持有公司股份 333,472,250 股，占公司目前总股本的 27.65%；本次质押 情况变动后，虞仁荣先生累计质押股份为 177,990,000 股，占其持股比例的 53.37%。 公司控股股东虞仁荣先生及其一致行动人绍兴市韦豪股权投资基金合 伙企业（有限合伙）（以下简称"绍兴韦豪"）、虞小荣先生共计持有公司股份 408,576,912 股，占公司目前总股本的 33.88%；本次质押情况变动后，虞仁荣先 生及其一致行动人累计质押公司股份 217,386,000 股，占其持有公司股份总数的 53.21%，占公司目前总股本的 18.03 ...

Core Insights - The AI Artificial Intelligence ETF (512930) has shown a strong performance, rising by 5.10% recently, with a current price of 1.98 yuan [3] - The underlying index, the CSI Artificial Intelligence Theme Index (930713), has increased by 5.25%, with notable gains from constituent stocks such as Xinyi Sheng (300502) and Zhongji Xuchuang (300308) [3][4] - The ETF has demonstrated high liquidity, with a turnover rate of 10.23% and a trading volume of 283 million yuan [3] Performance Metrics - The AI Artificial Intelligence ETF has accumulated a 7.18% increase over the past two weeks, ranking in the top 25% among comparable funds [3] - The ETF's management fee is 0.15% and the custody fee is 0.05%, making it the lowest among comparable funds [3] - The tracking error for the ETF over the past month is 0.006%, indicating the highest tracking precision among similar funds [3] Index Composition - The CSI Artificial Intelligence Theme Index comprises 50 listed companies involved in providing foundational resources, technology, and application support for artificial intelligence [4] - As of August 29, 2025, the top ten weighted stocks in the index account for 60.82% of the total index weight, with Xinyi Sheng (300502) and Zhongji Xuchuang (300308) being the top two [4][6]

Group 1 - The China Securities Consumer Electronics Theme Index (931494) has seen a strong increase of 3.36% as of September 5, 2025, with notable gains in constituent stocks such as Xinwangda (300207) up 13.87%, Dongshan Precision (002384) up 10.00%, and Yiwei Lithium Energy (300014) up 9.64% [3] - The Consumer Electronics ETF (561600) has risen by 2.92%, with the latest price reported at 1.09 yuan, and has accumulated a 6.63% increase over the past two weeks as of September 4, 2025 [3] - The trading volume for the Consumer Electronics ETF reached 45.49 million yuan with a turnover rate of 8.57% during the session, and the average daily trading volume over the past week was 108 million yuan, ranking first among comparable funds [3] Group 2 - As of August 29, 2025, the top ten weighted stocks in the China Securities Consumer Electronics Theme Index accounted for 54.8% of the index, including companies like Cambricon (688256), Luxshare Precision (002475), and SMIC (688981) [4] - The top ten stocks by weight include Luxshare Precision (8.06%), BOE Technology Group (6.71%), and Cambricon (5.79%), among others, indicating a concentration of investment in these key players [6]

Market Overview - The global stock markets showed mixed performance, with the Hang Seng Index closing at 25,059, down 1.12% for the day but up 24.92% year-to-date [1] - The US markets, including the Dow Jones and S&P 500, experienced gains of 0.77% and 0.83% respectively, while the Nasdaq rose by 0.98% [1] - Chinese stock markets faced declines, particularly in hardware technology, with the Shenzhen Composite Index down 2.05% [1][3] Sector Performance - In the Hong Kong market, the Hang Seng Financial Index decreased by 0.42%, while the Hang Seng Industrial Index fell by 1.58% [2] - The hardware technology sector in China led the declines, while sectors such as retail and food saw gains [3] - The US market saw a rise in consumer discretionary, banking, and solar sectors, while utilities and AI-related stocks lagged [3] Company Analysis - Salesforce reported a 10% year-on-year revenue growth to $10.2 billion for Q2 FY26, with non-GAAP net profit increasing by 12% to $2.8 billion, aligning with Bloomberg consensus [4] - The company’s cRPO grew by 11% to $29.4 billion, driven by strong orders from small and medium-sized enterprises [4] - Salesforce's AI and data cloud business saw an impressive annual recurring revenue growth of approximately 120% [4] Investment Recommendations - The report maintains a "Buy" rating for several companies, including Geely Automobile, Li Auto, and Tencent, with target prices indicating significant upside potential [5] - Geely Automobile is rated "Buy" with a target price of 25.00 HKD, representing a 37% upside from its current price of 18.24 HKD [5] - Tencent is also rated "Buy" with a target price of 705.00 HKD, suggesting an 18% upside from its current price of 599.50 HKD [5]

Group 1 - The average stock price of A-shares is 13.00 yuan, with 125 stocks priced over 100 yuan, a decrease of 16 from the previous trading day [1] - The Shanghai Composite Index closed at 3765.88 points, down 1.25%, while stocks priced over 100 yuan saw an average decline of 5.04%, underperforming the index by 3.79 percentage points [1] - The highest closing price among stocks over 100 yuan is Kweichow Moutai at 1472.66 yuan, down 0.53% [1] Group 2 - In the past month, stocks priced over 100 yuan have averaged an increase of 18.75%, outperforming the Shanghai Composite Index's increase of 5.78% [2] - The top performers among these stocks include Ying Shi Innovation, Hai Bo Si Chuang, and Kai Pu Yun, with increases of 108.14%, 81.29%, and 77.85% respectively [2] - Year-to-date, the average increase for stocks over 100 yuan is 64.45%, compared to the Shanghai Composite Index's 52.10% [2] Group 3 - The electronic industry has the highest representation among stocks over 100 yuan, with 40 stocks, accounting for 32.00% of the total [2] - The main board has 27 stocks, the ChiNext has 38, and the Sci-Tech Innovation Board has 57, making up 45.60% of the stocks priced over 100 yuan [2] - Twelve stocks priced over 100 yuan received "buy" ratings from institutions, including Zhongwei Company, Tuo Jing Technology, and Sai Li Si [2] Group 4 - Among the stocks with institutional buy ratings, BYD has the highest potential upside of 54.80%, with a target price of 161.00 yuan [3] - The second highest potential upside is for Haowei Group, with an upside of 53.57% [3] - A detailed list of high-priced stocks includes Kweichow Moutai, Han's Laser, and Jibite, with their respective latest closing prices and daily changes [3][4][5][6][7]

Investment Rating - The report maintains an "Overweight" rating for the semiconductor sector, driven by AI and domestic substitution [4]. Core Insights - The semiconductor industry is experiencing an upward cycle, with Q2 2025 revenue and net profit showing year-on-year and quarter-on-quarter growth, benefiting from AI-driven demand and ongoing domestic substitution efforts [4][12][26]. Summary by Sections Overall Industry Performance - The semiconductor sector achieved a revenue of 318.609 billion yuan in H1 2025, a year-on-year increase of 15.54%, and a net profit of 24.159 billion yuan, up 32.41% year-on-year. In Q2 2025, revenue reached 170.023 billion yuan, growing 15.17% year-on-year and 14.43% quarter-on-quarter, with net profit at 14.825 billion yuan, reflecting a year-on-year increase of 30.91% and a quarter-on-quarter increase of 58.82% [3][12][26]. Subsector Performance 1. **Semiconductor Equipment** - The semiconductor equipment sector reported H1 2025 revenue of 38.923 billion yuan, up 30.86% year-on-year, and a net profit of 6.306 billion yuan, up 18.84% year-on-year. Q2 2025 revenue was 21.038 billion yuan, a year-on-year increase of 28.80% and a quarter-on-quarter increase of 17.62% [27][32]. 2. **Semiconductor Materials** - The semiconductor materials sector achieved H1 2025 revenue of 22.416 billion yuan, up 11.73% year-on-year, with a net profit of 1.437 billion yuan, up 8.81% year-on-year. Q2 2025 revenue was 11.762 billion yuan, reflecting a year-on-year increase of 12.20% and a quarter-on-quarter increase of 10.40% [39][43]. 3. **Digital Chips** - The digital chip sector saw H1 2025 revenue of 87.129 billion yuan, up 24.72% year-on-year, and a net profit of 9.050 billion yuan, up 35.52% year-on-year. Q2 2025 revenue was 49.163 billion yuan, a year-on-year increase of 28.68% and a quarter-on-quarter increase of 29.49% [52][60]. 4. **Analog Chips** - The analog chip sector reported H1 2025 revenue of 24.502 billion yuan, up 13.16% year-on-year, with a net profit of 5.03 billion yuan, up 280.46% year-on-year. Q2 2025 revenue was 13.582 billion yuan, reflecting a year-on-year increase of 17.66% and a quarter-on-quarter increase of 24.38% [4][39]. 5. **Semiconductor Packaging and Testing** - The semiconductor packaging and testing sector achieved H1 2025 revenue of 45.864 billion yuan, up 18.73% year-on-year, with a net profit of 1.542 billion yuan, up 3.50% year-on-year. Q2 2025 revenue was 23.967 billion yuan, a year-on-year increase of 14.28% and a quarter-on-quarter increase of 9.46% [4][39]. 6. **Integrated Circuit Manufacturing** - The integrated circuit manufacturing sector reported H1 2025 revenue of 55.129 billion yuan, up 19.37% year-on-year, with a net profit of 2.814 billion yuan, up 44.65% year-on-year. Q2 2025 revenue was 27.857 billion yuan, reflecting a year-on-year increase of 16.14% and a quarter-on-quarter increase of 2.14% [4][39].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 197.56 CNY based on a projected average PE of 44 times for comparable companies in 2026 [2][5][11]. Core Insights - The company's performance is driven by growth in emerging markets and automotive business segments, with significant revenue increases expected in the coming years [1][10]. - The company is projected to achieve earnings per share of 3.58 CNY, 4.49 CNY, and 5.36 CNY for the years 2025, 2026, and 2027 respectively, reflecting adjustments in revenue and gross margin forecasts [2][11]. - The automotive market is expected to contribute significantly to revenue, with a 30% year-on-year growth in the first half of 2025 [10]. Financial Information Summary - Revenue projections for the company are as follows: - 2023: 21,021 million CNY - 2024: 25,731 million CNY (22% growth) - 2025: 31,446 million CNY (22% growth) - 2026: 37,386 million CNY (19% growth) - 2027: 44,199 million CNY (18% growth) [4][14] - The company's gross margin is expected to improve from 21.8% in 2023 to 31.7% in 2027, indicating enhanced profitability [4][14]. - Net profit attributable to the parent company is forecasted to grow from 556 million CNY in 2023 to 6,469 million CNY in 2027, with significant growth rates in the intervening years [4][14].