证券代码：688045 证券简称：必易微 公告编号：2025-052 深圳市必易微电子股份有限公司 首次公开发行部分限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 32,142,750股。 本次股票上市流通总数为32,142,750股。 本次股票上市流通日期为2025 年 11 月 26 日。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会《关于同意深圳市必易微电子股份有限公司首 次公开发行股票注册的批复》（证监许可〔2022〕819 号），同意深圳市必易微电子 股份有限公司（以下简称"公司"）首次公开发行股票的注册申请。并经上海证券 交易所同意，公司首次向社会公众公开发行人民币普通股（A 股）股票 1,726.2300 万股，并于 2022 年 5 月 26 日在上海证券交易所科创板挂牌上市。公司首次公开 发行 A 股前总股本为 5,178.6639 万股，首次公开发行 A 股后总股本为 6,904.8939 万 ...

申万宏源证券承销保荐有限责任公司 关于深圳市必易微电子股份有限公司 首次公开发行部分限售股上市流通的核查意见 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"、 "保荐人")作为深圳市必易微电子股份有限公司(以下简称"必易微"或"公 司"）首次公开发行并在科创板上市的持续督导保荐人,根据《证券发行上市保 荐业务管理办法》《上海证券交易所科创板股票上市规则》等有关规定,对必易 微首次公开发行部分限售股上市流通的事项进行了审慎核查,相关核查情况如下: 一、本次上市流通的限售股类型 根据中国证券监督管理委员会《关于同意深圳市必易微电子股份有限公司首 次公开发行股票注册的批复》(证监许可〔2022〕819 号 ),同意深圳市必易微电 子股份有限公司首次公开发行股票的注册申请。并经上海证券交易所同意,公司 首次向社会公众公开发行人民币普通股(A 股)股票 1.726.2300 万股,并于 2022 年 5 月 26 日在上海证券交易所科创板挂牌上市。公司首次公开发行 A 股前总股 本为 5.178.6639 万股,首次公开发行 A 股后总股本为 6.904.8939 万股,其中有 限售条件流通股 5.44 ...

Core Insights - The company reported a revenue of 461 million yuan for the first three quarters of 2025, a year-on-year decrease of 3.15%, while achieving a net profit attributable to shareholders of -3 million yuan, significantly reducing losses [1] - In Q3 2025, the company achieved a revenue of 179 million yuan, a year-on-year increase of 3.61% and a quarter-on-quarter increase of 12.13%, with a net profit attributable to shareholders of 6 million yuan, a year-on-year increase of 161.63% and a quarter-on-quarter increase of 39.46% [1] Revenue and Profitability - The most notable highlight of the quarter was the recovery in profitability, with a gross margin exceeding 30%, an increase of over 5 percentage points year-on-year, directly driving the net profit attributable to shareholders into positive territory and achieving profitability for two consecutive quarters [2] - Despite a decline in revenue year-on-year, the gross profit amount increased by over 15% in the first three quarters, supported by a simultaneous optimization of expenses, including a 12.83% year-on-year decrease in R&D expenses [2] Strategic Acquisition - The acquisition of Xinggan Semiconductor, a leading global supplier of high-performance sensor chips, aims to build a comprehensive system-level solution capability [3] - Xinggan Semiconductor possesses independent intellectual property and rich technical reserves in sensor devices, high-precision mixed-signal processing, and sensor packaging, serving downstream sectors such as new energy equipment, automotive terminals, and industrial automation [3] - Post-acquisition, the company will form a complete product system from current detection, motion sensing to power management, battery management, and motor drive, significantly enhancing product portfolio competitiveness [3] Investment Outlook - Revenue projections for 2025-2027 are estimated at 738 million, 909 million, and 1.121 billion yuan, respectively, with net profits attributable to shareholders of 15 million, 42 million, and 70 million yuan [4] - Corresponding EPS is projected at 0.22, 0.60, and 1.00, with PE ratios of 188.06, 68.81, and 40.92x, maintaining a "buy" rating [4]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company reported a revenue of 461 million yuan for the first three quarters of 2025, a year-on-year decrease of 3.15%, but significantly reduced its net loss to 2.79 million yuan [7] - The company has shown a strong improvement in profitability, with a gross profit margin increase of over 15% due to product structure optimization and market share expansion [7] - The company has maintained a high level of R&D investment, with R&D expenses reaching 112 million yuan in the first three quarters of 2025, accounting for 24.33% of revenue [7] - The forecast for revenue from 2025 to 2027 is 670 million yuan, 773 million yuan, and 977 million yuan respectively, with corresponding net profits of 14 million yuan, 35 million yuan, and 56 million yuan [7] Financial Performance Summary - Revenue for 2023 is projected at 578 million yuan, with a growth rate of 10.0%, and a net profit of -19 million yuan [6] - For 2024, revenue is expected to be 688 million yuan, with a growth rate of 19.0%, and a net profit of -17 million yuan [6] - The company is expected to achieve a net profit of 14 million yuan in 2025, with a PE ratio of 210.2 [6] - By 2027, the projected revenue is 977 million yuan, with a net profit of 56 million yuan and a PE ratio of 51.6 [6] Market Performance - The company's stock has shown a performance of -25% over the last 12 months compared to the Shanghai Composite Index and the semiconductor sector [4]

Core Viewpoint - The article discusses the upcoming "2025 Heterogeneous Integration Frontier Forum" organized by the Yongjiang Laboratory in collaboration with TrendBank and the Ningbo Electronic Industry Association, focusing on advancements and challenges in heterogeneous integration technology within the semiconductor industry [2][31]. Group 1: Event Details - The forum will take place from November 17-19, 2025, at the Pan Pacific Hotel in Ningbo, with an expected attendance of 300-500 participants [31]. - The event aims to facilitate discussions among industry experts, academic institutions, and investment organizations regarding the current state and future trends of advanced packaging technologies [2][31]. Group 2: Participants and Speakers - Notable companies and professionals from various sectors, including Huawei, Longxin Storage, and the Chinese Academy of Sciences, are expected to participate, showcasing a diverse range of expertise [2][3]. - The forum will feature keynote speeches and panel discussions led by industry leaders and researchers, addressing critical topics such as micro-nano manufacturing technologies and advanced packaging integration [16][18]. Group 3: Forum Agenda - The agenda includes specialized forums on topics like heterogeneous integration, advanced packaging, and micro LED technology, with sessions dedicated to discussing the latest innovations and challenges in these fields [19][28]. - Specific sessions will cover advancements in chiplet technology, high-performance sensors, and the application of polymer materials in semiconductor packaging [16][18][29]. Group 4: Registration and Fees - Registration for the forum is available, with ticket prices set at RMB 2500 per person, offering various benefits such as access to conference materials and meals [32]. - Early bird discounts are available for those who register before October 31, with student discounts also offered [32].

证券代码：688045 证券简称：必易微 公告编号：2025-050 深圳市必易微电子股份有限公司 关于开立募集资金专用账户并签订募集资金 专户存储四方监管协议的公告 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、准确性和完整性依法承担法律责任。 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意深圳市必易微电子股份有限公司首 次公开发行股票注册的批复》（证监许可〔2022〕819 号），同意深圳市必易微 电子股份有限公司（以下简称"公司"）首次公开发行股票的注册申请。并经上 海证券交易所同意，公司首次向社会公众公开发行人民币普通股（A 股）股票 1,726.23 万股，发行价为人民币 55.15 元/股，募集资金总额为人民币 95,201.58 万元，扣除发行费用（不含增值税）人民币 9,123.79 万元后，实际募集资金净额 为人民币 86,077.79 万元。上述募集资金已全部到位，由大华会计师事务所（特 殊普通合伙）于 2022 年 5 月 23 日对公司首次公开发行股票的资金到位情况进行 了审验，并出具了《验资报告》（大华验字[2022 ...

Core Insights - The company reported a total revenue of 461 million yuan for Q3 2025, ranking 87th among disclosed peers, which represents a decrease of 15.0026 million yuan or 3.15% year-on-year [1] - The net profit attributable to shareholders was -2.793 million yuan, ranking 95th among peers [1] - The net cash inflow from operating activities was 21.5248 million yuan, ranking 83rd among peers [1] Financial Metrics - The latest debt-to-asset ratio is 7.51%, an increase of 0.08 percentage points from the previous quarter [3] - The latest gross profit margin is 29.77%, ranking 73rd among peers [3] - The latest return on equity (ROE) is -0.20%, ranking 95th among peers [3] - The diluted earnings per share (EPS) is -0.04 yuan, also ranking 95th among peers [3] - The total asset turnover ratio is 0.32 times, a decrease of 0.01 times or 3.99% year-on-year [3] - The inventory turnover ratio is 1.99 times [3] Shareholder Information - The number of shareholders is 6,367, with the top ten shareholders holding a total of 45.6581 million shares, accounting for 65.38% of the total share capital [3] - The top ten shareholders and their holdings are as follows: - Xie Pengcun: 18.3% - Suzhou Fangguang Phase II Venture Capital Partnership (Limited Partnership): 9.23% - Shenzhen Kaiweisi Enterprise Management Center (Limited Partnership): 7.16% - Shenzhen Kavisite Enterprise Management Center (Limited Partnership): 6.64% - Zhang Bo: 6.14% - Yuan Chengjun: 6.09% - Shenzhen Kawaiti Enterprise Management Center (Limited Partnership): 4.74% - Yu Huijie: 3.07% - Beijing Fenghui Investment Management Co., Ltd.: 2.72% - Shanghai Jiupeng Asset Management Center (Limited Partnership) - Jiupeng Xingchen Growth No. 8 Private Securities Investment Fund: 1.20% [3]

Group 1 - The core viewpoint of the news is that Beiyiwei (688045.SH) reported its Q3 2025 results, highlighting the institutional investor holdings and changes in share ownership [1] - As of October 29, 2025, a total of 10 institutional investors disclosed holdings in Beiyiwei A-shares, with a combined holding of 22.5416 million shares, representing 32.28% of the total share capital [1] - The top ten institutional investors include various investment management firms, with their combined holding percentage decreasing by 1.16 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one public fund, West China Lide Quantitative Preferred One-Year Holding Mixed A, increased its holdings slightly compared to the previous period [2] - Two new public funds disclosed their holdings this quarter, namely Huashang Quality Preferred Mixed A and Huashang CSI A500 Index Enhanced A [2] - A total of 38 public funds were not disclosed in this period compared to the previous quarter, including notable funds such as Nuon An Multi-Strategy Mixed A and Guotai Jin Xin Stock A [2]

Core Insights - The company reported a revenue of 179 million yuan for Q3 2025, showing growth both year-on-year and quarter-on-quarter, with a gross margin exceeding 30%, an increase of over 5 percentage points compared to the previous year [1] - The net profit attributable to shareholders for the quarter was 6.02 million yuan, an increase of 15.79 million yuan compared to the same period last year, marking the second consecutive quarter of profitability [1] - The rapid development of AI technologies and applications in industrial robotics has driven new demand for power management chips, motor drive control chips, and battery management chips [1] Financial Performance - For the first three quarters of the year, the company achieved a net profit of 2.79 million yuan, reducing losses by 17.59 million yuan compared to the same period last year [1] - The gross profit increased by over 15% year-on-year due to continuous optimization of product structure and market expansion [1] Strategic Acquisition - In August, the company announced plans to acquire 100% of Shanghai Xingan Semiconductor Co., Ltd. for 295 million yuan [2] - Xingan Semiconductor specializes in high-performance sensor chip design, focusing on integrated sensor chips, particularly current sensors, with applications in energy, industrial control, new energy vehicles, and aerospace [2] - The acquisition will enhance the company's product portfolio, creating a comprehensive product system that includes current detection, motion sensing, power management, battery management, and motor drive solutions [2]

Core Viewpoint - The company reported a decline in total operating revenue for the first three quarters of 2025, indicating challenges in maintaining growth [1] Financial Performance - Total operating revenue for the first three quarters reached 461 million yuan, representing a year-on-year decrease of 3.15% [1] - The net profit attributable to shareholders of the parent company was -2.793 million yuan, which is an improvement of 17.5863 million yuan compared to the same period last year [1] - Basic earnings per share stood at -0.04 yuan [1]