Financial Performance - The proposed cash dividend distribution for the 2024 fiscal year is CNY 3.90 per share (including tax), totaling CNY 443,140,336.47, which represents 31.39% of the net profit attributable to shareholders of the listed company [6]. - The company reported a significant increase in revenue, reaching $1.2 billion, representing a 25% year-over-year growth [13]. - The company reported a significant increase in revenue, reaching $1.5 billion, representing a 25% year-over-year growth [18]. - In 2024, the company achieved operating revenue of CNY 3.64 billion, a 59.20% increase compared to CNY 2.29 billion in 2023 [27]. - The net profit attributable to shareholders reached CNY 1.41 billion, marking a 213.10% increase from CNY 450.91 million in the previous year [27]. - The net cash flow from operating activities was CNY 1.69 billion, up 131.29% year-over-year, reflecting strong profitability and operational efficiency [30]. - The company reported a basic earnings per share of CNY 1.25, a 212.50% increase from CNY 0.40 in 2023 [28]. - The net profit attributable to the parent company reached 1.412 billion RMB, an increase of 213.10% year-over-year [44]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was 1.249 billion RMB, up 237.44% from the previous year [44]. - The net cash flow from operating activities was 1.691 billion RMB, reflecting a growth of 131.29% year-over-year [44]. Research and Development - The company is investing $50 million in R&D for new technologies, focusing on AI and machine learning [13]. - Research and development expenses accounted for 20.98% of operating revenue, a decrease of 8.85 percentage points from the previous year [28]. - The company has maintained a strong focus on R&D investment since its IPO in 2019, with R&D expenses consistently increasing each year [30]. - The R&D team consists of 536 personnel, with approximately 74.65% of the total workforce, and 62.87% holding a master's degree or higher [64]. - Total R&D expenditure for the year was approximately ¥763.47 million, an increase of 11.98% compared to the previous year [187]. - The company has a strong focus on innovation and technology, with proprietary integrated circuit design platforms and high-performance memory interface solutions [197]. Product Development and Launches - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year [14]. - The company plans to introduce a new line of products aimed at the gaming sector, projected to generate $150 million in sales [13]. - The company launched three new high-performance chips, generating sales revenue of approximately 422 million RMB, which is eight times that of the previous year [44]. - The company successfully launched the sixth generation of its津逮® CPU and introduced new products including data protection and trusted computing acceleration chips [65]. - The company has launched DDR5 memory interface chips with data rates reaching up to 7200MT/s, representing a 50% increase compared to the first-generation RCD chip [78]. - The company has initiated the development of a high-performance AI chip, with a projected total investment of ¥290 million [192]. Market Expansion and Strategy - Market expansion efforts are underway, targeting a 10% increase in market share in the Asia-Pacific region [14]. - The company is expanding its market presence in Asia, targeting a 15% increase in market share by the end of the fiscal year [18]. - The company announced a strategic acquisition of a smaller tech firm for $300 million to enhance its product offerings [13]. - The company announced a strategic acquisition of a smaller tech firm for $200 million to enhance its product offerings and technological capabilities [18]. - A new partnership with a leading cloud service provider is expected to enhance service delivery and increase customer retention by 5% [14]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties [8]. - There are no violations of decision-making procedures regarding external guarantees [8]. - The company has not experienced any situation where more than half of the directors cannot guarantee the authenticity, accuracy, and completeness of the annual report [8]. - The board of directors, supervisory board, and senior management have confirmed the authenticity and completeness of the annual report [3]. - The company has optimized its governance structure and received an A-level rating for information disclosure from the Shanghai Stock Exchange [68]. Risk Management - The company has described potential risks in the report, which investors should be aware of [3]. - The report includes a forward-looking statement risk declaration, indicating that future plans and strategies do not constitute a substantive commitment to investors [7]. Audit and Financial Reporting - The company has received a standard unqualified audit report from Ernst & Young Hua Ming [5].

澜起科技公告，经财务部门初步测算，公司预计2025年第一季度实现营业收入约12.22亿元，较上年同 期增长约65.78%；预计2025年第一季度实现归属于母公司所有者的净利润5.1亿元~5.5亿元，较上年同 期增长128.28%~146.19%；预计2025年第一季度实现归属于母公司所有者的扣除非经常性损益的净利润 4.85亿元~5.25亿元，较上年同期增长120.82%~139.03%。 ...

数据统计显示，中证沪港深张江自主创新50指数近一个月下跌6.62%，近三个月上涨7.11%，年至今上 涨10.05%。 据了解，中证沪港深张江自主创新50指数从沪港深三地市场中选取50只业务涉及生物医药、集成电路、 人工智能、高端装备制造、节能环保、新材料等产业的张江高新区上市公司证券作为指数样本，以反映 沪港深三地市场张江高新区新兴产业上市公司证券的整体表现。该指数以2014年12月31日为基日，以 1000.0点为基点。 中证沪港深张江自主创新50指数上涨0.03%，前十 大权重包含中芯国际等 从中证沪港深张江自主创新50指数持仓样本的行业来看，信息技术占比67.98%、医药卫生占比 20.15%、工业占比6.75%、通信服务占比2.12%、原材料占比1.69%、房地产占比0.89%、可选消费占比 0.42%。 金融界3月24日消息，上证指数上涨0.15%，中证沪港深张江自主创新50指数 (SHS张江50，931596)上涨 0.03%，报1485.13点，成交额293.43亿元。 从指数持仓来看，中证沪港深张江自主创新50指数十大权重分别为：韦尔股份（11.04%）、中芯国际 （9.85%）、中微公司（ ...

Core Insights - The A-share market experienced a slight recovery with the Shanghai Composite Index rising by 0.15% to 3370 points, while the Sci-Tech AI ETF (588790) showed a remarkable "V-shaped" reversal, closing at 0.622 yuan with a gain of 1.14% [1] Group 1: AI Industry Acceleration - The release of Nvidia's BlackwellUltra AI chip, built on a 3nm process, enhances training speed by 18 times and reduces energy consumption by 90%, marking a significant advancement in AI capabilities [2] - The AI application market in China is projected to exceed 1.2 trillion yuan by 2025, with industrial, medical, and financial sectors contributing over 60% of the growth [3] Group 2: Policy Support - The Chinese government has established a 300 billion yuan industry fund under the "AI+ Action Plan" to support foundational layers such as chips, algorithms, and data [4] Group 3: Sci-Tech AI ETF (588790) Overview - The Sci-Tech AI ETF (588790) has gained traction as a key investment vehicle for AI core assets, with a total scale exceeding 2.6 billion yuan since January 10 [1][5] - Key components of the ETF include companies like Cambricon (7nm chip production), Zhongji Xuchuang (28% global market share in optical modules), and Stone Technology (25% global market share in AI vacuum cleaners) [5] Group 4: Future Opportunities - The domestic AI chip production capacity is expected to expand by 300%, while the demand for optical modules is projected to grow by 50% annually [8] - The cost of industry-specific models is anticipated to decrease by 90%, enabling millions of small and medium enterprises to adopt intelligent solutions [8]

Investment Rating - The report maintains a "Positive" outlook for the electronic industry [4] Core Insights - The Deepseek integrated machine is driving AI acceleration across various industries, with multiple manufacturers launching products that support the Deepseek model, enhancing deployment efficiency [7][8] - The integration of hardware and software in Deepseek machines significantly lowers the technical barriers for AI deployment, creating new opportunities for various sectors [13][14] - Domestic chips are becoming a foundational element for Deepseek machines, with over 80 companies adapting or launching Deepseek models based on domestic chip technology [11][12] Summary by Sections Investment Recommendations and Targets - The report suggests focusing on investment opportunities in companies related to the Deepseek integrated machine supply chain, including: 1. Chips: Haiguang Information, Longxin Zhongke, Lanke Technology, and Cambricon 2. Complete machines: Hikvision, Lenovo Group, and Dahua Technology [2][18] Industry Dynamics - The report highlights the rapid industrialization of AI integrated machines, with significant advancements in the Deepseek model's application across cloud computing, intelligent computing, and data center sectors [8] - Various manufacturers are adopting domestic chips and frameworks to enhance their integrated machine solutions, promoting a more localized AI ecosystem [9][12] Technological Advancements - Deepseek integrated machines are designed for soft and hardware optimization, allowing for dynamic resource allocation and improved performance [11][12] - The machines are equipped with pre-deployed models and industry-specific adaptations, significantly reducing the time required for AI application deployment [13][14]

Core Viewpoint - The article emphasizes the importance of the semiconductor industry in China's new industrialization, highlighting the role of the Science and Technology Innovation Board (STAR Market) in supporting the growth and innovation of this sector through capital and policy initiatives [1][2]. Group 1: Industry Support and Development - The China Securities Regulatory Commission (CSRC) aims to enhance support for key industries such as integrated circuits, industrial mother machines, and medical equipment, recognizing the semiconductor industry as a strategic and foundational sector for economic development [1]. - Since its establishment, the STAR Market has become the preferred platform for semiconductor companies to go public, with 116 semiconductor firms listed, accounting for 60% of A-share semiconductor companies [1][2]. - The STAR Market has facilitated significant capital inflow, with 116 semiconductor companies raising a total of 298.9 billion yuan through IPOs, representing over 80% of the total IPO fundraising in the A-share semiconductor sector [2]. Group 2: Capital Utilization and R&D Investment - The average capital utilization rate among the 116 semiconductor companies is 66%, indicating high efficiency in fund usage [2]. - In the first three quarters of 2024, these companies invested a total of 32.9 billion yuan in R&D, with a median R&D intensity of 17%, significantly higher than the overall A-share level of 4% [2]. - Notable advancements include the development of a new generation of CPUs by Loongson Technology and the introduction of domestically produced CMP equipment by Huahai Qingshi, showcasing the impact of increased R&D investment [2]. Group 3: Policy Innovations and Talent Attraction - The STAR Market has implemented flexible stock incentive mechanisms to attract and retain high-end talent, with 77 semiconductor companies launching 150 stock incentive plans, covering approximately 66% of the sector [3]. - The introduction of policies to support mergers and acquisitions has led to a surge in high-quality industry consolidations, with 76 disclosed equity acquisitions since the "Eight Measures" policy, totaling over 19 billion yuan [4]. Group 4: Market Mechanisms and Investment Products - The STAR Market has established a market-friendly environment for venture capital and institutional investors, including the introduction of a market-making system to enhance liquidity and price stability [6]. - The STAR Market has also launched thematic indices and ETFs focused on the semiconductor industry, catering to investor demand and facilitating participation in the sector's growth [6].

Financial Performance - In 2024, the company achieved total revenue of 3.639 billion yuan, a year-on-year increase of 59.20%[6] - The net profit attributable to the parent company reached 1.412 billion yuan, up 213.10% compared to the previous year[6] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 1.248 billion yuan, an increase of 237.44% year-on-year[6] - The basic earnings per share for 2024 was 1.25 yuan, reflecting a growth of 212.50% year-on-year[3] Product Performance - The company's interconnect chip product line generated sales revenue of 3.349 billion yuan, a growth of 53.31% year-on-year, with a gross margin of 62.66%[7] - Three new high-performance chips contributed approximately 422 million yuan in sales, which is eight times the revenue from the previous year[6] - The gross margin for the interconnect chip product line in Q4 2024 was 63.42%, an increase of 1.21 percentage points from the previous quarter[9] Quarterly Performance - In Q4 2024, the company reported revenue of 1.068 billion yuan, a year-on-year increase of 40.43% and a quarter-on-quarter increase of 17.90%[9] Asset and Equity Performance - Total assets at the end of the reporting period were 122.189 billion yuan, an increase of 14.22% from the beginning of the period[3] - The company's weighted average return on equity increased by 8.97 percentage points to 13.41%[3]

Investment Rating - The report assigns a "Buy" rating to the company, indicating a potential upside in the stock price [7][9]. Core Insights - The demand for AI computing power in China is expected to surge, benefiting the DRAM industry, particularly for the company as a leading memory interface chip manufacturer [7][9]. - The company's revenue for 2024 is projected to reach RMB 3.64 billion, representing a year-over-year growth of 59.2%, with net profit expected to increase by 206% to 219% [9]. - The company's earnings per share (EPS) is forecasted to grow significantly, with estimates of RMB 1.55 for 2025 and RMB 1.92 for 2026, reflecting a year-over-year growth of 28% and 24% respectively [9]. Summary by Sections Company Information - The company operates in the electronics industry, with a current stock price of RMB 72.44 as of February 20, 2025, and a market capitalization of RMB 82.93 billion [2]. Recent Ratings - The company was rated "Buy" on October 31, 2024, with a previous closing price of RMB 49.95 [3]. Financial Performance - The company’s net profit for 2022 was RMB 1.299 billion, with projections of RMB 1.769 billion for 2025 and RMB 2.188 billion for 2026, indicating a strong recovery and growth trajectory [8][9]. - The projected revenue for 2025 is RMB 5.827 billion, with a significant increase in operating profit expected [14]. Market Trends - The report highlights that the introduction of DeepSeek has lowered the barriers for AI applications, leading to increased competition among major internet companies in China, which will drive demand for high-speed memory products [9].

Investment Rating - The report assigns a "Buy" rating to the company, indicating a potential upside in the stock price [7][9]. Core Insights - The demand for AI computing power in China is expected to surge, benefiting the DRAM industry, particularly for the company as a leading memory interface chip manufacturer [7][9]. - The company's revenue for 2024 is projected to reach RMB 3.64 billion, representing a year-over-year growth of 59.2%, with net profit expected to grow significantly [9]. - The stock is currently trading at a PE ratio of 38 times for 2026, suggesting room for valuation improvement compared to other leading computing chip companies [7][9]. Summary by Sections Company Overview - The company operates in the electronics industry, with a current stock price of RMB 72.44 and a market capitalization of RMB 82.93 billion [2]. Recent Ratings - The latest rating was published on October 31, 2024, with a closing price of RMB 49.95 and a "Buy" recommendation [3]. Financial Performance - The company reported a net profit of RMB 1.299 billion in 2022, with projections for 2025 and 2026 to reach RMB 1.769 billion and RMB 2.188 billion, respectively [8][14]. - The earnings per share (EPS) is expected to increase from RMB 1.21 in 2024 to RMB 1.92 in 2026, reflecting a strong growth trajectory [8][9]. Market Trends - The report highlights a significant increase in demand for high-frequency and high-speed memory products, driven by advancements in AI applications and competition among major internet companies in China [9].

证券代码：688008 证券简称：澜起科技 公告编号：2025-004 重要内容提示： 关于持股 5%以上股东权益变动触及 1%的提示性公告 合计持股 5%以上股东珠海融英股权投资合伙企业（有限合伙）、WLT Partners, L.P 保证向澜起科技股份有限公司提供的信息不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其真实性、准确性和完整性依法承担法律责任。 本公司董事会及全体董事保证公告内容与上述股东提供的信息一致。 澜起科技股份有限公司（以下简称"公司"）于 2025 年 2 月 19 日收到珠海 融英股权投资合伙企业（有限合伙）、WLT Partners, L.P（以下简称"珠海融英 及其一致行动人"或"信息披露义务人"）发来的《关于澜起科技股份有限公司 股东权益变动的告知函》，珠海融英及其一致行动人自 2025 年 2 月 5 日至 2025 年 2 月 19 日期间，通过集中竞价交易方式合计减持公司股份 3,000,000 股，占公 司总股本的比例约为 0.26%；同时，因限制性股票归属致公司总股本增加，珠海 融英及其一致行动人持股比例被动稀释。本次权益变动后，珠海融英及其一致行 动人合计持有 ...