必易微所属申万行业为：电子-半导体-模拟芯片设计。所属概念板块包括：氮化镓、模拟芯片、智能家 居、芯片概念、集成电路等。 截至6月30日，必易微股东户数6014.00，较上期增加28.86%；人均流通股6267股，较上期减少20.74%。 2025年1月-6月，必易微实现营业收入2.83亿元，同比减少6.99%；归母净利润-881.46万元，同比增长 16.92%。 机构持仓方面，截止2025年6月30日，必易微十大流通股东中，诺安多策略混合A（320016）位居第六 大流通股东，持股31.21万股，为新进股东。招商量化精选股票发起式A（001917）、信澳新能源产业股 票A（001410）退出十大流通股东之列。 责任编辑：小浪快报 9月23日，必易微盘中下跌2.08%，截至09:44，报44.31元/股，成交1753.38万元，换手率1.04%，总市值 30.95亿元。 资金流向方面，主力资金净流出124.02万元，大单买入208.95万元，占比11.92%，卖出332.98万元，占 比18.99%。 必易微今年以来股价涨38.90%，近5个交易日跌4.48%，近20日跌2.01%，近60日涨27.77%。 ...

Company Overview - Biyimi Microelectronics Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on May 29, 2014. The company went public on May 26, 2022. Its main business involves the design and sales of high-performance analog and mixed-signal integrated circuits [2]. Stock Performance - As of September 22, Biyimi's stock price increased by 2.02%, reaching 45.40 CNY per share, with a trading volume of 38.28 million CNY and a turnover rate of 2.26%. The total market capitalization is 3.171 billion CNY [1]. - Year-to-date, the stock price has risen by 42.32%. In the last five trading days, it increased by 0.89%, while it decreased by 1.13% over the past 20 days and increased by 31.98% over the last 60 days [2]. Financial Performance - For the period from January to June 2025, Biyimi achieved operating revenue of 283 million CNY, a year-on-year decrease of 6.99%. The net profit attributable to shareholders was -8.81 million CNY, representing a year-on-year increase of 16.92% [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Biyimi was 6,014, an increase of 28.86% from the previous period. The average number of circulating shares per shareholder was 6,267, a decrease of 20.74% [2]. - Among the top ten circulating shareholders, Noan Multi-Strategy Mixed A (320016) is the sixth largest shareholder with 312,100 shares, marking a new entry. Both China Merchants Quantitative Selected Stock Initiation A (001917) and Xin'ao New Energy Industry Stock A (001410) have exited the top ten circulating shareholders list [3]. Business Segmentation - The main business revenue composition of Biyimi is as follows: AC-DC accounts for 51.04%, Driver ICs 44.33%, DC-DC 3.94%, and other segments contribute 0.48% and 0.22% respectively [2]. - Biyimi operates within the Shenwan industry classification of Electronics - Semiconductors - Analog Chip Design, and is involved in concept sectors including Gallium Nitride, Smart Home, Analog Chips, Chip Concepts, and Integrated Circuits [2].

Company Overview - Biyimi Microelectronics Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on May 29, 2014. The company went public on May 26, 2022. Its main business involves the design and sales of high-performance analog and mixed-signal integrated circuits [2]. Stock Performance - As of September 19, Biyimi's stock price decreased by 2.01%, closing at 44.39 CNY per share, with a trading volume of 52.29 million CNY and a turnover rate of 3.08%. The total market capitalization is 3.1 billion CNY [1]. - Year-to-date, the stock price has increased by 39.15%. Over the past five trading days, it has risen by 0.07%, over the past 20 days by 3.35%, and over the past 60 days by 30.94% [2]. Financial Performance - For the period from January to June 2025, Biyimi achieved a revenue of 283 million CNY, a year-on-year decrease of 6.99%. The net profit attributable to shareholders was -8.81 million CNY, representing a year-on-year increase of 16.92% [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Biyimi is 6,014, an increase of 28.86% from the previous period. The average number of circulating shares per shareholder is 6,267, a decrease of 20.74% [2]. - Among the top ten circulating shareholders, Noan Multi-Strategy Mixed A (320016) is the sixth largest shareholder with 312,100 shares, marking its entry as a new shareholder. Both China Merchants Quantitative Selected Stock Initiation A (001917) and Xin'ao New Energy Industry Stock A (001410) have exited the top ten circulating shareholders list [3]. Business Segmentation - The main revenue composition of Biyimi is as follows: AC-DC accounts for 51.04%, Driver ICs for 44.33%, DC-DC for 3.94%, and other segments contribute 0.48% and 0.22% respectively [2]. - Biyimi operates within the Shenwan industry classification of Electronics - Semiconductors - Analog Chip Design, and is involved in several concept sectors including Gallium Nitride, Smart Home, Chip Concept, Integrated Circuits, and Analog Chips [2].

Company Overview - Biyimi Microelectronics Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on May 29, 2014. The company went public on May 26, 2022. Its main business involves the design and sales of high-performance analog and mixed-signal integrated circuits [2]. Stock Performance - As of September 18, Biyimi's stock price increased by 2.14%, reaching 47.19 CNY per share, with a trading volume of 39.70 million CNY and a turnover rate of 2.27%. The total market capitalization is 3.296 billion CNY [1]. - Year-to-date, Biyimi's stock price has risen by 47.93%. In the last 5 trading days, it increased by 7.42%, in the last 20 days by 14.85%, and in the last 60 days by 41.03% [2]. Revenue and Profitability - For the period from January to June 2025, Biyimi achieved a revenue of 283 million CNY, a year-on-year decrease of 6.99%. The net profit attributable to the parent company was -8.81 million CNY, which represents a year-on-year increase of 16.92% [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Biyimi was 6,014, an increase of 28.86% from the previous period. The average circulating shares per person decreased by 20.74% to 6,267 shares [2]. - Among the top ten circulating shareholders, Noan Multi-Strategy Mixed A (320016) is the sixth largest shareholder with 312,100 shares, marking a new entry. Both China Merchants Quantitative Selected Stock Initiation A (001917) and Xin'ao New Energy Industry Stock A (001410) have exited the top ten circulating shareholders list [3]. Business Segmentation - Biyimi's main business revenue composition is as follows: AC-DC accounts for 51.04%, Driver ICs 44.33%, DC-DC 3.94%, and other segments contribute 0.70% [2].

Core Insights - The domestic production rate of analog chips for home appliances in China is projected to reach 65% by the end of 2024, with the overall domestic chip share in home appliances at 70-80% [4] - The domestic analog chip production rate is approximately 90%, while the power semiconductor devices exceed 70% [4] - Major domestic companies like Chipone Microelectronics, Jingfeng Mingyuan, and others are accelerating the replacement of imported analog chips, capturing a market share of 65% in power management chips [4] Group 1 - The domestic analog chips can meet the needs of ordinary home appliances, with a minimum of 60% share in major appliances like air conditioners and refrigerators [5] - The price of domestic chips is about 0.1-0.3 yuan, which is 15%-20% cheaper than imported counterparts, with similar performance [4][5] - Domestic companies are developing pure domestic chip solutions, and the anti-dumping investigation is expected to accelerate the domestic chip production process [5][6] Group 2 - The anti-dumping investigation aims to deter unfair competition from foreign companies leveraging their technological and market advantages [6] - The final market share of domestic chips will depend on comprehensive factors such as product performance, price, and service [6] - The domestic analog chip industry is expected to undergo a phase of competition, leading to a survival of the fittest scenario [5]

Core Viewpoint - The article discusses the recent market performance, highlighting the impact of the anti-dumping investigation on the semiconductor industry, particularly in the analog chip sector, and the fluctuations in the gold jewelry market due to rising international gold prices. Market Performance - As of the midday close, the Shanghai Composite Index fell by 0.10%, the Shenzhen Component Index decreased by 0.26%, and the ChiNext Index dropped by 0.32% [2][3] - The total trading volume in the Shanghai and Shenzhen markets was 1.5 trillion yuan, a decrease of 25.1 billion yuan compared to the previous trading day, with over 2,800 stocks rising across the market [2][3] Semiconductor Industry - The anti-dumping investigation initiated by the Chinese Ministry of Commerce on U.S. imported analog chips is expected to alleviate price war pressures and improve profitability for domestic manufacturers [9][10] - The investigation focuses on general interface chips and gate driver chips, which are crucial for various electronic applications [9][10] - The U.S. accounts for over 50% of the global production capacity of these chips, with significant price declines impacting local manufacturers [9][10] - The import quantities of the investigated products have shown a continuous upward trend, with imports projected to reach 1.59 billion units by 2024 [10] - Analysts predict that the anti-dumping measures could expand the Chinese market for general interface chips and gate driver chips significantly, with potential market growth of 3.3 to 13.4 times [11] Gold Jewelry Market - The gold jewelry sector experienced a decline, with the gold jewelry index dropping over 2% during trading [12][13] - International gold prices reached new highs, with COMEX gold futures nearing $3,730 per ounce, influencing domestic gold jewelry prices to rise [15][17] - Major brands like Chow Sang Sang and Luk Fook Jewelry have seen their gold prices increase, with Chow Sang Sang's gold jewelry price surpassing 1,090 yuan per gram [17]

Core Viewpoint - The Chinese Ministry of Commerce has initiated anti-dumping investigations against imported analog chips from the United States, responding to domestic industry applications and aligning with WTO rules. The investigations focus on general interface and gate driver chips, revealing a significant increase in import volume and a drastic decrease in import prices, which have negatively impacted domestic sales prices and operations [1][2][4]. Group 1: Market Overview - The global semiconductor market reached $346 billion in the first half of 2025, marking an 18.9% year-on-year growth, with analog chips growing by 4% [4]. - In the A-share market, the semiconductor industry reported revenues of 321.2 billion yuan and a net profit of nearly 24.5 billion yuan, reflecting a year-on-year growth of approximately 30% [4]. - The demand for analog chips, particularly in mobile fast charging and power management, is significantly increasing, with domestic products rapidly capturing market share [4]. Group 2: Company Performance - Companies like Xilin Micro and Chipone reported substantial revenue growth, with Xilin Micro achieving a 36.83% increase and a 131.25% rise in net profit [6]. - Chipone's revenue grew by 40.32%, with net profit increasing by 106.02%, driven by new product categories and market expansion [7]. - Jiewa Tech reported a 58.2% revenue increase, primarily from power and signal chain chips, with a total revenue of 11.87 billion yuan [7]. Group 3: Profitability and Margins - The analog chip industry's gross margin improved, with the median gross margin rising from 34.72% in Q1 to 35.05% in Q2 of 2025 [11]. - Leading companies like Saimo Micro and Shengbang Co. maintain gross margins above 50%, showcasing their competitive advantage in the market [11]. - Companies such as Naxin Micro and Aiwai Electronics reported significant improvements in gross margins due to high-value product offerings and operational efficiencies [12][13]. Group 4: Inventory Management - The inventory turnover days for most analog chip companies decreased significantly in 2025 compared to 2024, indicating improved inventory management efficiency [16]. - Companies like Jiewa Tech and Xilin Micro saw their inventory turnover days reduced by over 100 days, reflecting enhanced operational performance [16]. Group 5: Mergers and Acquisitions - The anti-dumping investigations have prompted domestic analog chip companies to pursue mergers and acquisitions to enhance their technological capabilities and market presence [17][19]. - Recent acquisitions include Biyimei's purchase of Shanghai Xingan Semiconductor for approximately 295 million yuan and Jingfeng Mingyuan's acquisition of Yichong Technology for 3.283 billion yuan [18][19]. - These strategic moves aim to consolidate resources, fill technological gaps, and improve competitiveness against international giants [19].

Core Viewpoint - The analog chip industry is entering an upward cycle, with expected global market growth of 3.3% in 2025 and 5.1% in 2026, reaching $82.2 billion and $86.4 billion respectively. The long-term growth is driven by AI applications such as data centers, autonomous driving, and humanoid robots, indicating significant potential for domestic companies [3][7][12]. Industry Overview - The global analog chip market has a CAGR of 4.77% from 2004 to 2024, with a projected market size of $79.6 billion in 2024, which is a 2.0% decrease from the previous year. The market is expected to recover in 2025 and 2026 [3][12]. - The Chinese analog chip market is projected to reach ¥195.3 billion in 2024, with a CAGR of 11% from 2025 to 2029. The market is driven by sectors such as industrial, automotive, and AI [18][21]. Key Applications and Growth Areas - Key growth areas for analog chips include industrial applications, AI, and automotive sectors. The industrial sector is expected to see a recovery in procurement and new product introductions, while the automotive sector is experiencing a shift towards electrification and intelligence [7][21][37]. - AI applications are expected to significantly increase the demand for analog chips, particularly in power management and signal processing [31][34]. Domestic Market Potential - China accounts for approximately 35% of the global analog chip market, making it a crucial revenue source for international manufacturers. However, the domestic self-sufficiency rate remains low, indicating substantial room for growth [7][34]. - Major international players like TI and ADI derive significant revenue from China, with TI's revenue from China estimated at $3 billion in 2024, while ADI's is around $2.1 billion [34][35]. Competitive Landscape - The competitive landscape is characterized by a mix of established international firms and emerging domestic players. The industry is seeing increased competition as domestic companies aim to capture market share in high-end applications [51][52]. - The growth model for analog chip companies often involves a combination of product diversification and customer base expansion, with established firms leveraging extensive product lines and customer relationships to drive revenue [23][28]. Investment Strategy - The report recommends investing in companies with high-end and platform capabilities, as these firms are better positioned to capitalize on the growth opportunities in the analog chip market [5][8].

北京德恒（深圳）律师事务所 关于深圳市必易微电子股份有限公司 2025 年第二次临时股东会的 法律意见 深圳市福田区金田路 4018 号安联大厦 B 座 11 楼 电话:0755-88286488 传真:0755-88286499 邮编:518026 北京德恒（深圳）律师事务所 关于深圳市必易微电子股份有限公司 2025年第二次临时股东会的法律意见 北京德恒（深圳）律师事务所 关于深圳市必易微电子股份有限公司 2025 年第二次临时股东会的 法律意见 德恒 06G20250060-00005 号 致：深圳市必易微电子股份有限公司 深圳市必易微电子股份有限公司（以下简称"公司"）2025 年第二次临时股 东会（以下简称"本次会议"）于 2025 年 9 月 12 日（星期五）召开。北京德恒（深 圳）律师事务所（以下简称"德恒"）受公司委托，指派徐帅律师、孙静曲律师（以 下简称"德恒律师"）出席了本次会议。根据《中华人民共和国证券法》（以下简 称"《证券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）、中 国证券监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》"） 等法律、行政法规、部门 ...

重要内容提示： 证券代码：688045 证券简称：必易微 公告编号：2025-047 深圳市必易微电子股份有限公司 2025年第二次临时股东会决议公告 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法律责任。 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 43 | | --- | --- | | 普通股股东人数 | 43 | | 2、出席会议的股东所持有的表决权数量 | 37,262,817 | | 普通股股东所持有表决权数量 | 37,262,817 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例（%） | 53.4250 | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 53.4250 | 注：截至本次股东会股权登记日的总股本为 69,837,819 股；其中，公司回购专用账户中股份 数为 89,955 股，不享有股东会表决权。 （四） 表决方式是否 ...