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 瑞芯微电子股份有限公司（以下简称"公司"）第四届董事会第二次会议通 知和材料于 2025 年 3 月 19 日以电子邮件等方式向全体董事、监事及高级管理人 员发出，会议于 2025 年 3 月 19 日在公司会议室以现场结合通讯会议方式召开。 会议应出席董事 5 名，实际出席董事 5 名，公司监事及高级管理人员列席了本次 会议。会议由董事长励民先生主持。本次会议的召集、召开符合有关法律、法规、 规范性文件及《公司章程》的规定，会议合法有效。 二、董事会会议审议情况 证券代码：603893 证券简称：瑞芯微 公告编号：2025-012 瑞芯微电子股份有限公司 第四届董事会第二次会议决议公告 （一）审议通过《关于<瑞芯微电子股份有限公司 2025 年股票期权激励计 划（草案）>及其摘要的议案》 为了进一步建立、健全公司长效激励机制，吸引和留住优秀人才，充分调动 公司骨干员工的积极性，有效地将股东利益、公司利益和核心团队个人利益结合 在一起，使各方共同关注公司的 ...

1、2024 年 2 月 28 日，公司分别召开第三届董事会第二十七次会议和第三 届监事会第二十五次会议，审议通过《关于<瑞芯微电子股份有限公司 2024 年股 票期权与限制性股票激励计划（草案）>及其摘要的议案》等相关议案。公司独 立董事就本次激励计划是否有利于公司的持续发展及是否存在损害公司及全体 股东利益的情形发表了独立意见。公司监事会对本次激励计划相关事项进行核实 并出具了相关核查意见。 证券代码：603893 证券简称：瑞芯微 公告编号：2025-011 瑞芯微电子股份有限公司 关于 2024 年股票期权与限制性股票激励计划 预留权益失效的公告 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个别及连带责任。 一、2024 年股票期权与限制性股票激励计划的基本情况 2、2024 年 3 月 15 日，公司召开 2024 年第一次临时股东大会，审议通过《关 于<瑞芯微电子股份有限公司 2024 年股票期权与限制性股票激励计划（草案）> 及其摘要的议案》等相关议案。 3、2024 年 3 月 15 日，公司分别召开第三届董事会第二十 ...

Investment Rating - The report maintains a rating of "Outperform the Market" for the communication industry [6] Core Insights - The communication industry has shown strong performance, with the Shenyin Wanguo Communication Index rising by 2.8% over the past week, outperforming the broader market [2] - The report highlights the government's focus on 5G, AI, data and computing, and low-altitude economy as key development areas for 2025, suggesting a favorable environment for investment in these sectors [3][14] - The report emphasizes the acceleration of AI technology commercialization and recommends focusing on hardware opportunities in the application side, including AI chips, communication modules, robotics, and intelligent driving [3][38] Summary by Sections Market Review - The communication sector has outperformed the market, with a 2.8% increase in the Shenyin Wanguo Communication Index [2] - The overall valuation of the communication sector is at a historically high level, with a dynamic PE ratio of approximately 22, above the past two-year average of 19-20 [2][30] - Specific segments such as industrial internet, power communication, and 5G have seen significant weekly gains of 16.1%, 11.7%, and 8.0% respectively [2][34] - A total of 113 stocks in the sector rose, with notable performers including Yitong Technology and Lierda, which increased by 42.3% and 33.7% respectively [2][35] Configuration Suggestions - The report suggests focusing on hardware opportunities in the application side, particularly in AI chips (e.g., Rockchip, Espressif), communication modules (e.g., Quectel, Gree), robotics (e.g., Topband, Heertai), and intelligent driving (e.g., Zhucheng Technology) [3][38]

Investment Rating - The report maintains a "Buy" rating for the company [3][5] Core Views - The company is expected to achieve a revenue of 3.1-3.15 billion yuan in 2024, representing a year-on-year growth of 45.23%-47.57% [1] - The forecasted net profit attributable to shareholders is projected to be between 550-630 million yuan, indicating a significant year-on-year increase of 307.75%-367.06% [1] - The company is leveraging its AIoT chip "Yuanxing Fangzhen" product layout to enhance its market share across various sectors, particularly in automotive electronics, machine vision, and industrial applications [1][2] Revenue and Profit Forecast - The company is expected to achieve a net profit of 592 million yuan in 2024, with projections of 790 million yuan in 2025 and 966 million yuan in 2026, reflecting substantial growth rates of 339.06% and 33.40% respectively [3][4] - Revenue growth rates are forecasted at 45.79% for 2024, 35.77% for 2025, and 23.13% for 2026 [4] Product Development and Market Position - The company has introduced new AIoT products that benefit from the industrialization wave of AI, with chips supporting model deployment for various applications [2] - In the automotive electronics sector, the company has launched multiple projects, including the RK3588M chip for smart cockpits and RK2118M for in-car audio systems, which have been adopted by leading automotive manufacturers [3] Financial Metrics - The company’s revenue is projected to grow from 2.03 billion yuan in 2022 to 5.2 billion yuan in 2026, with a corresponding increase in net profit from 297 million yuan to 966 million yuan over the same period [4][9] - The report highlights an improvement in profitability metrics, with a forecasted gross margin of 40% in 2024 and a return on equity (ROE) of 16.51% [11]

Investment Rating - The report does not explicitly state an investment rating for the company [3]. Core Insights - Rockchip (瑞芯微) is a leading domestic SoC chip solution provider in China, with products widely used in tablets, smartphones, commercial display terminals, set-top boxes, smart homes, smart cars, and various IoT devices [4][10]. - The company has significantly benefited from the AIoT sector, particularly with its DeepSeek product, which has attracted over 300 million users and is expected to lead the edge AI application market [12][13]. - The flagship product RK3588 has been recognized for its excellent performance and is being adopted in emerging fields such as automotive smart cockpits and robotics [4][6]. Company Overview - Rockchip was founded in 2001 and has evolved through various product innovations, including significant market shares in the MP3 and MP4 sectors, and has established partnerships with major international companies [5][6]. - The company has a strong focus on innovation, particularly in AI integration, with its latest flagship product RK3588 supporting various AI capabilities [6][10]. Financial Summary - The company reported revenues of 2,030 million RMB in 2022, with projections of 3,119 million RMB for 2024 and 4,117 million RMB for 2025, indicating a growth rate of 46.1% and 32.0% respectively [15]. - Net profit is expected to rise from 135 million RMB in 2023 to 762 million RMB in 2025, reflecting a significant increase in profitability [15]. - The earnings per share are projected to grow from 0.3 RMB in 2023 to 1.8 RMB in 2025, showcasing strong financial performance [15].

Investment Rating - The report does not explicitly state an investment rating for the company [3]. Core Insights - The company, Rockchip (瑞芯微), is a leading provider of SoC chip solutions in China, with products widely used in tablets, smartphones, commercial display terminals, set-top boxes, smart homes, smart cars, and various IoT devices [4][10]. - The launch of the DeepSeek R1 inference model has significantly impacted the market, attracting over 300 million users and becoming the fastest application to reach 100 million users, surpassing previous records held by ChatGPT [12][13]. - The company is set to release its new flagship product, RK3688, in 2025, which is expected to enhance NPU computing power from 6 TOPS to 16 TOPS, supporting advanced AI applications [14]. Company Overview - Rockchip was founded in 2001 and has evolved through various product innovations, including significant market shares in the radio, MP3, and MP4 sectors [5][6]. - The company has established a strong presence in the automotive sector, with its RK3588M chip entering the supply chains of several leading domestic automotive manufacturers, achieving mass production for over 10 models [4][6]. - The company’s product lineup includes high-performance chips like RK3588, RK3568, and RK3308, catering to diverse applications from consumer electronics to industrial control [10]. Financial Summary - The company reported revenues of 2,030 million RMB in 2022, with projections of 3,119 million RMB for 2024 and 4,117 million RMB for 2025, indicating a growth rate of 46.1% and 32.0% respectively [15]. - Net profit is expected to rise from 135 million RMB in 2023 to 762 million RMB in 2025, reflecting a significant increase in profitability [15].

Group 1 - The stock of Rockchip Microelectronics (603893) reached the daily limit, with a turnover rate of 4.72% and a total transaction amount of 3.513 billion yuan, showing a price fluctuation of 15.11% [1] - According to the dragon and tiger list data, institutional investors net sold 226 million yuan, while the Shanghai Stock Connect saw a net purchase of 259 million yuan, and the total net purchase by brokerage seats amounted to 651 million yuan [1] - The Shanghai Stock Exchange's public information indicated that the stock was listed due to a daily price fluctuation of 15.11%, with institutional specialized seats net selling 226 million yuan and the Shanghai Stock Connect net buying 259 million yuan [1]

Investment Rating - The investment rating for the company is "Buy" with an expected return exceeding 10% relative to the CSI 300 index over the next six months [4][15]. Core Insights - The company is a leading player in the AIoT SoC chip market in China, leveraging over 20 years of experience in integrated circuit design, particularly in processor and mixed-signal chip design, multimedia processing, imaging algorithms, and system software development [1]. - The company aims to create a "V-shaped formation" in its chip offerings, with flagship chips leading advancements in computing power and process technology, while also developing a diverse product line across various sectors including machine vision, automotive electronics, industrial applications, and education [1]. - The launch of the DeepSeeK model has set a benchmark for AI cost-effectiveness, significantly reducing service pricing compared to competitors, which has attracted attention from major companies like Microsoft [2][3]. Financial Data and Projections - The company is projected to achieve revenues of 21.35 billion yuan in 2023, increasing to 55.56 billion yuan by 2026, with a compound annual growth rate (CAGR) of approximately 37.07% from 2024 to 2026 [9][10]. - Expected net profits for the company are forecasted to be 561.47 million yuan in 2024, 825.64 million yuan in 2025, and 1.09 billion yuan in 2026, reflecting significant growth potential [10][12]. - The company's gross margin is expected to improve from 34.25% in 2023 to 39.97% in 2026, indicating enhanced profitability [12]. Market Position and Competitive Landscape - The company has established partnerships with notable clients such as Alibaba, BYD, Baidu, and Xiaomi, which enhances its market presence and credibility in the AIoT sector [2]. - The competitive landscape is characterized by rapid advancements in AI technology, with the company focusing on expanding its product lines in automotive electronics and industrial applications to capture growth opportunities [10].

北京国枫律师事务所 北京国枫律师事务所 关于瑞芯微电子股份有限公司 2024 年第一期股票期权与限制性股票激励计划 调整股票期权行权价格和限制性股票 授予、回购价格的 法律意见书 国枫律证字[2024]AN025-6号 GRANDWAY 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 邮编:100005 电话（Tel）: 010-88004488/66090088 传真（Fax）: 010-66090016 关于瑞芯微电子股份有限公司 2024 年第一期股票期权与限制性股票激励计划 调整股票期权行权价格和限制性股票 授予、回购价格的 法律意见书 国枫律证字[2024]AN025-6 号 致: 瑞芯微电子股份有限公司（以下称"瑞芯微"或"公司"） 根据《中华人民共和国公司法》(以下称"《公司法》")、《中华人民共 和国证券法》（以下称"《证券法》"）、《上市公司股权激励管理办法》（以 下称"《管理办法》")等有关法律、法规、规章及规范性文件的规定,北京国 枫律师事务所(以下称"本所")接受瑞芯微的委托,担任瑞芯微 2024 年第一 期股票 ...

瑞芯微电子股份有限公司（以下简称"公司"或"本公司"）股票于 2025 年 1 月 17 日、1 月 20 日、1 月 21 日连续 3 个交易日内日收盘价格涨幅偏离值累 计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票交易异常 波动情形。 经公司自查并向公司实际控制人核实，截至本公告披露日，除公司已披 露事项外，不存在应披露而未披露的重大信息。 请广大投资者理性投资，注意二级市场交易风险。 一、股票交易异常波动的具体情况 证券代码：603893 证券简称：瑞芯微 公告编号：2025-010 瑞芯微电子股份有限公司 股票交易异常波动公告 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个别及连带责任。 重要内容提示： （三）媒体报道、市场传闻、热点概念情况 公司股票于 2025 年 1 月 17 日、1 月 20 日、1 月 21 日连续 3 个交易日内日 收盘价格涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规 定，属于股票交易异常波动情形。 二、公司关注并核实的相关情况 针对公司股票交易异常波动的情 ...