9月18日，乐鑫科技涨5.27%，截至发稿，报201.50元/股，成交6.76亿元，换手率2.20%，总市值315.76 亿元。 王星星累计任职时间2年83天，现任基金资产总规模9.88亿元，任职期间最佳基金回报64.21%， 任职期 间最差基金回报27.7%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，乐鑫信息科技(上海)股份有限公司位于上海市浦东新区御北路235弄3号楼1-7层，成立日期 2008年4月29日，上市日期2019年7月22日，公司主营业务涉及集成电路产品的研发设计和销售。主营业 务收入构成为：模组及开发套件60.47%，芯片38.89%，其他0.64%。 从基金十大重仓股角度 数据显示，汇添富基金旗下1只基金重仓乐鑫科技。汇添富中证1000指数增强A（017953）二季度持有 股数1.44万股，占基金净值比例为0.48%，位居第八大重仓股。根据测算，今日浮盈赚取约14.53万元。 汇添富中证1000指数增强A（0179 ...

Group 1 - The core viewpoint of the news highlights the positive performance of the AI-focused ETF, with a 0.75% increase and significant trading activity, indicating a strong market interest in AI-related stocks [1][2] - Key stocks within the ETF include Stone Technology, which rose by 5.93%, Lingyun Optics with a 4.58% increase, and Sikan Technology up by 3.69%, showcasing the strong performance of leading companies in the AI sector [1] - The overall trading volume exceeded 21 million yuan, reflecting active market participation and robust liquidity [1] Group 2 - Huawei's announcement on September 16 outlines ten major technological trends for an intelligent world by 2035, predicting a 100,000-fold increase in total computing power and significant innovations in computing architecture and paradigms [1] - According to招商证券, both domestic and international demand for computing power remains high, with global AI infrastructure spending continuing at elevated levels, as evidenced by Nvidia's FY26Q2 performance meeting expectations [1] - Domestic computing companies are expected to continue delivering strong results, with recent developments such as Cambrian's capital increase approval and Haiguang's acquisition progress indicating confidence in future performance [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Insights - In the first half of 2025, the company achieved revenue of 1.246 billion yuan, a year-on-year increase of 35.35%, and a net profit attributable to shareholders of 261 million yuan, a year-on-year increase of 72.29% [5][11]. - In the second quarter of 2025, the company reported revenue of 688 million yuan, a year-on-year increase of 29.02% and a quarter-on-quarter increase of 23.28%, with a net profit of 168 million yuan, a year-on-year increase of 71.45% and a quarter-on-quarter increase of 78.82% [5][11]. - The company's performance is driven by digital and intelligent upgrades, along with the gradual release of new potential customers, leading to sustained high growth [11]. Financial Performance - The gross profit margin for the first half of 2025 was 45.20%, an increase of 2.00 percentage points year-on-year, attributed to changes in product structure and economies of scale [11]. - In the second quarter of 2025, the gross profit margin was 46.69%, an increase of 2.58 percentage points year-on-year and 3.32 percentage points quarter-on-quarter [11]. - The company’s revenue composition for the first half of 2025 included 38.9% from chips and 60.5% from modules, with a slight increase in the revenue share from modules [11]. Research and Development - In the first half of 2025, the company invested 268 million yuan in R&D, a year-on-year increase of 22.66% [11]. - The company focuses on self-research of core technologies and has launched 12 different product models, covering mature, growth, and emerging phases, laying a solid foundation for long-term growth [11]. Market Position and Strategy - The company is positioned as a leading player in the IoT technology ecosystem, with a focus on both hardware and software development, and has expanded its product application scenarios and customer base [11]. - The acquisition of M5Stack is expected to enhance the coverage of long-tail customers [11]. - The company’s AI solutions have gained recognition from industry leaders such as Apple, OpenAI, and ByteDance, facilitating the deployment of AI models in IoT scenarios [11]. Future Outlook - The company is expected to see a continuous increase in profitability, with projected net profits attributable to shareholders of 520 million yuan, 734 million yuan, and 978 million yuan for 2025, 2026, and 2027, respectively [11].

Core Viewpoint - Lexin Technology's stock has shown a significant increase in value this year, with a year-to-date rise of 18.71% and a 40% increase over the past 60 days, despite a recent decline in trading [1][2]. Company Overview - Lexin Technology, established on April 29, 2008, and listed on July 22, 2019, is based in Shanghai and specializes in the research, design, and sales of integrated circuit products [1]. - The company's main revenue sources are modules and development kits (60.47%), chips (38.89%), and other products (0.64%) [1]. Financial Performance - For the first half of 2025, Lexin Technology reported a revenue of 1.246 billion yuan, representing a year-on-year growth of 35.35%, and a net profit attributable to shareholders of 261 million yuan, up 72.29% year-on-year [2]. - Since its A-share listing, Lexin Technology has distributed a total of 384 million yuan in dividends, with 145 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Lexin Technology had 16,100 shareholders, a decrease of 0.47% from the previous period, with an average of 9,733 circulating shares per shareholder, an increase of 40.32% [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and several investment funds, with notable increases in their holdings [3].

Group 1 - The core viewpoint highlights the strong performance of the domestic AI industry, with the Sci-Tech Innovation AI ETF (589520) experiencing a significant intraday increase of 4.27% and a current rise of 2.91%, indicating active trading with a real-time transaction amount exceeding 430 million yuan [1] - Key stocks within the ETF, such as Cambricon, Yuntian Lifei, and Xinghuan Technology, have shown substantial gains, with Cambricon rising over 9% and others increasing by more than 6% [1] - OpenAI has signed a $300 billion agreement with Oracle for computing power over five years, leading to a 36% surge in Oracle's stock price, which resulted in a market capitalization increase of approximately $250 billion in a single day [3] Group 2 - The domestic computing power industry is experiencing significant growth, with the number of standard racks in use reaching 10.85 million and the intelligent computing power scale reaching 788 EFLOPS as of June this year [3] - The urgency for domestic computing power replacement is increasing due to U.S. restrictions on advanced chip exports to China, emphasizing the need for independent design and production of high-end AI chips in China [3] - The recent policy document on implementing the "Artificial Intelligence +" initiative is expected to catalyze the industrialization of AI, with a focus on hardware-software collaboration and the establishment of AI infrastructure [4] Group 3 - The Sci-Tech Innovation AI ETF (589520) has undergone a share split, reducing the trading threshold from approximately 120 yuan to about 60 yuan, making it more accessible for investors [4] - The ETF is positioned to benefit from the rapid advancement of AI technology, with a focus on domestic alternatives and information security amid ongoing technological tensions [5] - The top ten holdings of the ETF account for over 71.66% of its weight, with the semiconductor sector representing more than 54.1%, indicating a concentrated and aggressive investment strategy [5]

本公司及董事会全体成员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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 证券代码：688018 证券简称：乐鑫科技 公告编号：2025-067 乐鑫信息科技（上海）股份有限公司 第三届董事会第十次会议决议公告 表决结果：同意 7 票，反对 0 票，弃权 0 票 特此公告。 乐鑫信息科技（上海）股份有限公司董事会 乐鑫信息科技（上海）股份有限公司（以下简称"乐鑫科技"或"公司"） 第 三届董事会第十次会议（以下简称"本次会议"）于 2025 年 9 月 10 日在公司 7 楼 会议室以现场方式召开。本次会议的通知于 2025 年 9 月 6 日通过电话及邮件方 式送达全体董事。会议应出席董事 7 人，实际到会董事 7 人，会议由公司董事长 TEO SWEE ANN 张瑞安主持。会议的召集和召开程序符合有关法律、行政法规、 部门规章、规范性文件和公司章程的规定，会议决议合法、有效。 二、董事会会议审议情况 本次会议由公司董事长 TEO SWEE ANN 张瑞安主持，经全体董事表决，形 成决议如下： （一）审议通过《关于公司 2 ...

Core Viewpoint - The stock performance of Lexin Technology has shown fluctuations, with a year-to-date increase of 13.62% but a recent decline of 7.47% over the past five trading days [1] Company Overview - Lexin Technology, established on April 29, 2008, and listed on July 22, 2019, is located in Shanghai and specializes in the research, design, and sales of integrated circuit products [1] - The company's main revenue sources are modules and development kits (60.47%), chips (38.89%), and others (0.64%) [1] Financial Performance - For the first half of 2025, Lexin Technology achieved a revenue of 1.246 billion yuan, representing a year-on-year growth of 35.35%, and a net profit attributable to shareholders of 261 million yuan, up 72.29% year-on-year [2] - Cumulatively, the company has distributed 384 million yuan in dividends since its A-share listing, with 145 million yuan distributed over the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders for Lexin Technology is 16,100, a decrease of 0.47% from the previous period, with an average of 9,733 circulating shares per person, an increase of 40.32% [2] - Major shareholders include Hong Kong Central Clearing Limited, which holds 5.1822 million shares, and other significant shareholders such as the Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF and Shenwan Hongyuan Securities [3]

Core Viewpoint - Lexin Technology (Shanghai) Co., Ltd. plans to raise up to 1.78 billion RMB through a private placement of A-shares to enhance its core competitiveness and market position by investing in various technology innovation projects [2][6]. Fundraising Details - The total amount to be raised is capped at 1.78 billion RMB [4]. - The fundraising has been registered and is effective as of August 28, 2025 [3]. - The issuance will target no more than 35 specific entities, including securities investment fund management companies, securities companies, and trust companies [5]. Investment Projects - Wi-Fi 7 Router Chip R&D and Industrialization Project: Investment of 398.52 million RMB aimed at developing router chips supporting Wi-Fi 7 technology [5]. - Wi-Fi 7 Smart Terminal Chip R&D and Industrialization Project: Investment of 249.86 million RMB focused on developing Wi-Fi 7 chips for smart terminal devices [5]. - AI Edge Chip R&D based on RISC-V Self-Developed IP: Investment of 431.76 million RMB to develop AI edge chips based on RISC-V architecture [5]. - Shanghai R&D Center Construction Project: Investment of 597.73 million RMB to enhance R&D capabilities and technological innovation [5]. - Supplementary Working Capital: 100 million RMB to improve liquidity for daily operations [5]. Strategic Goals - The fundraising aims to further develop the company's business and enhance its competitiveness in the IoT chip design sector [6]. - The company intends to continuously monitor trends in IoT technology and increase R&D investment to improve product performance and innovation capabilities [6]. - The plan has received approval from the company's board and shareholders, as well as regulatory approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission [6].

Core Viewpoint - Leshin Technology (688018.SH), a leading IoT chip company in A-shares, is accelerating its technology R&D and capacity layout, aiming to raise up to 1.778 billion yuan through a targeted issuance of A-shares to enhance its competitive edge in the IoT technology ecosystem [1][4]. Fundraising Plan - Leshin Technology plans to issue no more than 15.67 million A-shares to no more than 35 specific investors, raising up to 1.778 billion yuan, marking the company's third attempt at refinancing since its listing in 2019 [2][3]. - Previous fundraising attempts in 2020 and 2022, aimed at raising 250 million yuan and 300 million yuan respectively, were unsuccessful [2][3]. Investment Focus - The funds will primarily be allocated to two major R&D projects: Wi-Fi 7 router chips and smart terminal chips, with investments of 399 million yuan and 250 million yuan, accounting for 22.44% and 14.06% of the total funds raised [2][3]. - Another significant focus is on the RISC-V self-developed AI chip project, with an investment of 432 million yuan, aimed at enhancing algorithm processing capabilities and energy efficiency [3]. R&D and Performance - Leshin Technology has invested a total of 2.084 billion yuan in R&D over the past six and a half years, with a consistent increase in R&D expenses from 120 million yuan in 2019 to 268 million yuan in the first half of 2025 [5][6]. - The company reported strong growth in 2025, with revenue reaching 1.246 billion yuan in the first half, a year-on-year increase of 35.35%, and a net profit of 261 million yuan, up 72.29% [5]. Market Position - Leshin Technology ranks first globally in the Wi-Fi MCU market and fifth in the broader Wi-Fi market, showcasing strong international market competitiveness [6].

Group 1 - The core point of the article is that Lexin Technology (688018) plans to issue A-shares to raise funds for the development and industrialization of Wi-Fi 7 router chips, AI edge chips based on RISC-V self-developed IP, and the construction of a research and development center in Shanghai [2][4] - As of September 5, 2025, Lexin Technology's stock closed at 179.54 yuan, with an increase of 1.99%, a turnover rate of 3.41%, a trading volume of 53,400 shares, and a transaction amount of 946 million yuan [1] - The company aims to raise a total of no more than 1.777 billion yuan through this issuance, which will not exceed 10% of the total share capital prior to the issuance, amounting to 15,670,272 shares [2][4] Group 2 - On September 5, the net inflow of main funds was 38.6154 million yuan, accounting for 4.08% of the total transaction amount, while retail investors had a net inflow of 12.04 million yuan, accounting for 1.27% [2][4] - The issuance of shares has already gone through the decision-making procedures of the board of directors and the shareholders' meeting, and has been approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission [2]