海光信息技术股份有限公司 简式权益变动报告书 上市公司： 海光信息技术股份有限公司 信息披露义务人一：成都产业投资集团有限公司 住所：中国（四川）自由贸易试验区成都市高新区吉庆一路 178 号绿地之窗 2 号楼 18 至 20 层 股份权益变动性质：《一致行动协议》到期自动终止，不涉及权益变动前后信息 披露义务人持有公司股份数量的变动。 签署日期：二〇二五年八月 1 上市地点： 上海证券交易所 股票简称： 海光信息 股票代码： 688041.SH 海光信息技术股份有限公司 简式权益变动报告书 通讯地址：四川省成都市锦江区柳江街道永安路 588 号 信息披露义务人二：成都高新投资集团有限公司 住所及通讯地址：中国（四川）自由贸易试验区成都高新区盛兴街 55 号 信息披露义务人三：成都高新集萃科技有限公司 住所及通讯地址：中国（四川）自由贸易试验区成都高新区天府一街 1008 号 A 座 207 号 信息披露义务人声明 本部分所述词语或简称与本报告书"释义"所述词语或简称具有相同含义。 一、本报告书系根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格 ...

证券代码：688041 证券简称：海光信息 公告编号：2025-032 海光信息技术股份有限公司 关于股东权益变动的提示性公告 本公司董事会及全体董事保证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个别及连带责任。 重要内容提示： 本次权益变动系海光信息技术股份有限公司（以下简称"公司"）股东 成都产业投资集团有限公司（以下简称"成都产投有限"）、成都高新投资集团 有限公司（以下简称"成都高投有限"）、成都高新集萃科技有限公司（以下简 称"成集萃有限"）于 2021 年签署的《一致行动协议》到期自动终止所致，不 涉及持股数量的增减，未触及要约收购。 本次权益变动不会导致公司控制权发生变更，不改变公司无控股股东、 无实际控制人状态。 本次权益变动不影响相关股东已作出的公开承诺。 一、本次权益变动基本情况 （一）信息披露义务人基本情况 | 公司名称 | 成都产业投资集团有限公司 | | | --- | --- | --- | | 注册地址 | 中国（四川）自由贸易试验区成都市高新区吉庆一路 178 号绿地之 | | | | 号楼 18 至 20 层 | 窗 2 ...

海光信息技术股份有限公司发布股东权益变动提示性公告。本次权益变动系成都产投有限、成都高投有 限、成都集萃有限于2021年签署的《一致行动协议》到期自动终止所致，不涉及持股数量增减，未触及 要约收购。权益变动前后，三股东持股数量和比例不变，合计持股均为395,200,000股，占比17%。本次 变动不会导致公司控制权变更，不改变无控股股东、无实际控制人状态，也不影响相关股东已作出的公 开承诺。此外，公司正筹划换股吸收合并中科曙光相关事宜，信息披露义务人承诺交易换股完成前不减 持。 ...

Investment Rating - The report maintains a "Buy-A" rating for the company [1][9]. Core Insights - The company achieved a revenue of 5.464 billion yuan in the first half of 2025, representing a year-on-year increase of 45.21%. The net profit attributable to shareholders reached 1.201 billion yuan, up 40.78% year-on-year [4][5]. - The company is benefiting from the growing demand for domestic high-end chips, which supports its revenue growth. As of June 30, 2025, the company's contract liabilities stood at 3.091 billion yuan, indicating a strong pipeline of new contracts [5][6]. - The merger with Zhongke Shuguang is expected to create a complete industry chain from chips to servers to cloud services, enhancing market expansion and operational efficiency [7]. Financial Performance - In Q2 2025, the company reported a revenue of 3.064 billion yuan, a 41.15% increase year-on-year, with a net profit of 696 million yuan, reflecting a 23.14% growth [4]. - The gross margin decreased by 3.28 percentage points year-on-year due to increased R&D investments and marketing expenses, leading to a net profit margin of 30.05%, down 2.53 percentage points from the previous year [6]. - The company expects significant growth in earnings per share (EPS) from 1.35 yuan in 2025 to 2.82 yuan in 2027, with corresponding price-to-earnings (P/E) ratios decreasing from 100.69 to 48.32 over the same period [9][11]. Market Position and Outlook - The company is positioned in the top tier of domestic CPU and AI chip performance and ecosystem, indicating strong competitive advantages [8]. - The expected revenue growth rates for the upcoming years are 53.4% in 2025, 40.1% in 2026, and 32.9% in 2027, reflecting a robust growth trajectory [11][13].

沪深两市全天主力资金净流入100.20亿元，其中，科创板主力资金净流出20.87亿元，主力资金净流入的 有243只股，主力资金净流出的有344只股。 证券时报·数据宝统计显示，今日科创板个股上涨的有499只，涨停的有赛诺医疗、莱尔科技等2只，下 跌的有85只。 资金流向方面，今日主力资金净流入的科创板股共有243只，其中，10只个股主力资金净流入超5000万 元，东芯股份主力资金净流入1.86亿元，净流入资金居首；寒武纪、云从科技紧随其后，全天净流入资 金分别为1.38亿元、9916.17万元。主力资金净流出的有344只，净流出资金最多的是中芯国际，该股今 日上涨0.35%，全天主力资金净流出2.60亿元，其次是海光信息、芯原股份，主力资金净流出分别为 2.30亿元、2.22亿元。 从主力资金连续性进行观察，共有36只个股主力资金连续3个交易日以上持续净流入，连续流入天数最 多的是龙软科技，该股已连续8个交易日净流入；连续净流入天数较多的还有博瑞医药、鼎阳科技等， 主力资金分别连续流入7天、7天。主力资金连续流出的个股有140只，连续流出天数最多的是亿华通， 该股已连续18个交易日净流出；连续净流出天数较多的 ...

Core Viewpoint - The semiconductor industry is experiencing a recovery in demand, particularly in consumer electronics and AI applications, while inventory levels are improving and capital expenditures are being adjusted upwards by key players like TSMC and major overseas semiconductor manufacturers [1][2][4]. Demand Side - The consumer electronics sector is witnessing a recovery, with AI and automotive applications driving innovation. Global smartphone shipments in Q2 saw a year-on-year growth slowdown to 1%, while domestic shipments declined by 4%. PC shipments increased by 6.5% year-on-year in Q2, but growth is expected to weaken in H2 2025. Wearable devices, particularly AI glasses, are experiencing significant growth, with a 216% year-on-year increase in Q1 shipments [2][3]. - The automotive market in H1 2025 saw a 13.8% year-on-year increase in sales, with new models like Xiaomi's YU7 achieving substantial pre-order numbers [2]. Inventory Side - The Days of Inventory (DOI) for the smartphone supply chain has slightly increased, with terminal customer inventories remaining low. Major chip manufacturers like Intel reported a decrease in inventory levels, indicating a potential for increased shipments as demand rises [3]. Supply Side - TSMC is ramping up its advanced process production lines in the U.S., driven by strong demand from AI data centers. The capacity utilization rates for various foundries, including SMIC and UMC, have shown improvements, with SMIC reaching 92.5% in Q2 2025 [4][12]. - Major memory manufacturers are focusing capital expenditures on high-end memory products like HBM, with companies like Micron and SK Hynix increasing their capital spending forecasts for 2025 [4]. Price Side - Memory prices are showing signs of steady recovery, particularly for DDR4 and NAND Flash products. The analog chip sector is also expected to see potential price increases, which could positively impact the industry [6]. Sales Side - Global semiconductor sales reached $59.9 billion in June 2025, marking a 19.6% year-on-year increase. The Asia-Pacific region, excluding China and Japan, saw a 34.2% year-on-year sales growth, while sales in Japan declined by 2.9% [6]. Industry Chain Tracking - The semiconductor industry is experiencing marginal improvements in various segments, with a focus on companies benefiting from domestic control and recovery in demand. The design and IDM sectors are seeing growth driven by consumer demand and AI applications [6][17]. - The MCU market is recovering, particularly in consumer electronics and automotive sectors, with significant sales increases noted in Q2 2025 [7]. - The storage sector is seeing improved profitability among overseas manufacturers, with domestic companies also expected to recover in H2 2025 [8]. - The analog chip market is experiencing good demand trends, with many domestic companies reporting improved revenue in Q2 2025 [9]. Advanced Manufacturing and Testing - The demand for advanced processes remains strong, with TSMC maintaining a robust growth forecast for AI-related chips. The utilization rates for mature processes are also recovering, although customer inventory demand for Q4 2025 remains uncertain [12][13]. - Major international packaging and testing companies are forecasting significant revenue growth for Q3 2025, with domestic companies increasing investments in advanced packaging capabilities [13]. Equipment, Materials, and Components - Domestic semiconductor equipment manufacturers are showing positive trends in orders and revenue growth, while international firms express caution regarding future guidance due to geopolitical uncertainties [14]. - The push for domestic supply chain independence is accelerating, with ongoing efforts to reduce reliance on foreign components [14]. EDA/IP Sector - Chip design companies like Chipone are reporting record-high order backlogs, indicating strong demand in the EDA sector [15].

Investment Rating - The report maintains a "Recommended" investment rating for the company [1][10]. Core Views - The company, Hygon Information (688041.SH), is recognized as a leading domestic computing power enterprise, with significant growth in performance for the first half of 2025, achieving revenue of 5.464 billion yuan, a year-on-year increase of 45.21%, and a net profit attributable to shareholders of 1.201 billion yuan, up 40.78% [3][6]. - The growth is attributed to the continuous rise in demand for domestic high-end chips, with the company expanding its market presence through deepening collaborations with OEMs and ecosystem partners in key industries [6][7]. - The company has maintained high levels of inventory and contract liabilities, which are seen as a guarantee for future performance growth [6]. Financial Summary - **Revenue and Profit Forecasts**: - Revenue is projected to grow from 6.012 billion yuan in 2023 to 27.110 billion yuan by 2027, with year-on-year growth rates of 17.3%, 52.4%, 55.1%, 41.2%, and 35.1% respectively [5]. - Net profit is expected to increase from 1.263 billion yuan in 2023 to 6.210 billion yuan in 2027, with corresponding growth rates of 57.2%, 52.9%, 59.2%, 46.7%, and 37.7% [5]. - **Profitability Metrics**: - Gross margin is projected to stabilize around 61% from 2025 onwards, while net margin is expected to improve gradually, reaching 22.9% by 2027 [5]. - Return on equity (ROE) is forecasted to rise from 6.8% in 2023 to 19.6% in 2027 [5]. - **Valuation Ratios**: - Price-to-earnings (P/E) ratio is expected to decrease from 250.5 in 2023 to 50.9 by 2027, indicating improving valuation as earnings grow [5]. Market Position and Competitive Advantage - The company is positioned as a core player in the domestic computing power market, with strong competitiveness in its CPU and DCU product lines, benefiting from the AI wave and domestic substitution trends [7]. - The company has invested significantly in R&D, with expenditures reaching 1.711 billion yuan in the first half of 2025, accounting for 31.31% of revenue, which supports its technological leadership [6][7].

Core Insights - The financing balance of the Sci-Tech Innovation Board increased by 479 million yuan compared to the previous trading day, while the margin trading balance decreased by 16.67 million yuan [1] - As of August 8, the total margin trading balance on the Sci-Tech Innovation Board reached 180.87 billion yuan, marking a continuous increase for 20 trading days [1] - The stock with the highest financing balance is SMIC, with a latest financing balance of 7.577 billion yuan [1] Financing Balance Summary - The total financing balance on the Sci-Tech Innovation Board is 180.27 billion yuan, with a daily increase of 479 million yuan [1] - 284 stocks saw an increase in financing balance, while 300 stocks experienced a decrease [1] - Notable increases in financing balance include Kangtuo Medical (29.39%), Gongda High-Tech (25.38%), and Aerospace Universe (20.30%) [1] Margin Trading Balance Summary - The stock with the highest margin trading balance is Cambricon Technologies, with a latest balance of 20 million yuan [2] - 96 stocks saw an increase in margin trading balance, while 179 stocks experienced a decrease [2] - Significant increases in margin trading balance include Ruikeda (444.09%), KQ Bio (137.60%), and Youkede (56.17%) [2]

Group 1 - Beijing has lifted housing purchase restrictions outside the Fifth Ring Road, effective from August 9, leading to a 20%-30% increase in property viewings [2] - The new policy includes adjustments to housing provident fund policies, allowing a maximum loan of 1.4 million yuan for second homes and reducing the required contribution period [2] - Industrial Fulian reported a revenue of approximately 360.76 billion yuan for the first half of the year, a year-on-year increase of 35.58%, with a net profit of about 12.11 billion yuan, up 38.61% [10] Group 2 - This week, 34 companies will have a total of 3.057 billion shares released from lock-up, with a total market value of 232.51 billion yuan based on the latest closing prices [12] - The companies with the highest market value of released shares include Haiguang Information, Zhiwei Intelligent, and Guoxin Securities [12] - A new stock, Hongyuan Co., will be issued on August 11, with a subscription code of 920018 and an issue price of 9.17 yuan [15]

Group 1: Company News - Industrial Fulian reported a revenue of 360.76 billion yuan for the first half of the year, a year-on-year increase of 35.58%, and a net profit of 12.11 billion yuan, up 38.61% [3] - Jinghua New Materials announced a revenue of 0.947 billion yuan for the first half of the year, a year-on-year increase of 10.53%, but a net profit of 3.77 million yuan, down 7.30% [4] - Yanjing Beer reported a revenue of 8.558 billion yuan for the first half of the year, a year-on-year increase of 6.37%, and a net profit of 1.103 billion yuan, up 45.45% [4] - Bawei Storage reported a revenue of 3.912 billion yuan for the first half of the year, a year-on-year increase of 13.70%, but a net loss of 226 million yuan [4] - Kaipu Testing announced a revenue of 0.111 billion yuan for the first half of the year, a year-on-year increase of 3.23%, and a net profit of 40.79 million yuan, up 3.73% [4] - Fangsheng Pharmaceutical's subsidiary received approval for a clinical trial of its innovative traditional Chinese medicine, indicating progress in its R&D efforts [4] - Jiachuan Video announced a change in control, which may impact its future operations and governance [5] - Chunguang Technology plans to invest up to 1 billion yuan in a new project for clean electrical appliances, indicating expansion in its operational capacity [5] - Shiyun Circuit plans to invest 125 million yuan in Shenzhen New Sound Semiconductor, acquiring a 3.8238% stake, which reflects its strategy to enhance its technological capabilities [5] - Wantong Development plans to invest 854 million yuan to acquire a 62.98% stake in Shudu Technology, aligning with its strategy to transition into digital technology [6] Group 2: Industry Insights - The A-share market will see 34 stocks facing unlocks this week, with a total unlock volume of 3.057 billion shares, representing a week-on-week increase of 149.66% [2] - The medical device industry is experiencing significant growth in international business, with many companies seeing high growth rates in overseas markets [7] - The medical device sector is expected to witness a performance turning point in the second half of the year, driven by policy optimizations and improving market conditions [7] - The market lacks a clear main narrative, but sectors like pharmaceuticals and overseas computing are identified as potential high-growth areas [7]