Core Insights - Long光华芯 (688048.SH) reported a revenue of 339 million yuan for the first three quarters of 2025, representing a year-on-year increase of 67.42% [1] - The company achieved a net profit attributable to shareholders of 20.94 million yuan, marking a turnaround from a loss to profitability [1] - The company's non-recurring net profit showed a loss of 24.15 million yuan, indicating challenges in core operational performance [1] - Basic earnings per share were reported at 0.1188 yuan [1]

Core Viewpoint - The company Long光华芯 announced a comprehensive review of its assets in accordance with accounting standards, resulting in significant impairment losses for the third quarter of 2025 [1] Financial Performance - The company recognized a credit impairment loss of 7.3389 million yuan for the first three quarters [1] - Total asset impairment losses for the first three quarters amounted to 32.643 million yuan [1] Asset Management - The company conducted a thorough examination of its consolidated assets to reflect its financial status accurately [1] - Inventory was measured at the lower of cost and net realizable value, leading to the recognition of inventory impairment losses [1]

Core Insights - The company reported a significant increase in revenue and profit for the third quarter of 2025, indicating strong market performance and effective business strategies [1] Financial Performance - Third quarter revenue reached 125 million yuan, representing a year-on-year growth of 66.3% [1] - Net profit for the third quarter was 11.968 million yuan [1] - For the first three quarters, total revenue amounted to 339 million yuan, with a year-on-year increase of 67.42% [1] - The net profit for the first three quarters was 20.9426 million yuan, marking a turnaround from previous losses [1] - Basic earnings per share were reported at 0.1188 yuan [1] Business Development - The company has successfully expanded its market presence, particularly in high-power product sales [1] - Previous investments in optical communication and other sectors have gained recognition from end customers, leading to bulk shipments and opening new growth avenues [1]

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. 计提资产减值准备情况概述 依据《企业会计准则》及公司会计政策的相关规定，为真实、公允地反映公 司 2025 年三季度报告的财务状况及经营情况，公司对合并范围内的相关资产进 行了全面清查，基于谨慎性原则，对存在减值迹象的资产计提了减值准备。具体 情况如下表所示： 单位：人民币 万元 | 项目 | 计提金额 | 备注 | | --- | --- | --- | | 信用减值损失 | 733.89 | 含应收账款、应收票据、其他应收款等的减值 | | 资产减值损失 | 3,264.30 | 存货跌价准备 | | 合计 | 3,998.19 | | 二. 计提资产减值准备事项的具体说明 1.信用减值损失 证券代码：688048 证券简称：长光华芯 公告编号：2025-050 苏州长光华芯光电技术股份有限公司 关于 2025 年三季度计提资产减值准备的公告 变现净值的差额计提存货跌价准备。经测试，公司前三季度计提资产减值损失共 计 3,264.30 万元。 三. 本次计提资产减值 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥125,325,758.13, representing a year-on-year increase of 66.30%[4] - The total profit for the period was ¥13,722,322.32, while the net profit attributable to shareholders was ¥11,968,033.69[4] - The total profit for the year-to-date period reached ¥17,366,845.33, with a net profit attributable to shareholders of ¥20,942,553.29[4] - Total operating revenue for the first three quarters of 2025 reached ¥339,390,192.06, a significant increase from ¥202,721,135.17 in the same period of 2024, representing a growth of approximately 67.4%[21] - Operating profit for the first three quarters of 2025 was ¥17,630,174.94, compared to a loss of ¥90,243,886.04 in the same period of 2024, indicating a turnaround in profitability[21] - Net profit for the first three quarters of 2025 was ¥22,018,108.36, contrasting with a net loss of ¥62,235,161.07 in the same period of 2024, marking a substantial improvement[22] - The net profit for the first three quarters of 2025 was ¥27,378,864.97, recovering from a net loss of ¥59,964,843.17 in the first three quarters of 2024[31] Research and Development - Research and development expenses amounted to ¥28,969,135.86, accounting for 23.12% of operating revenue, a decrease of 19.43% compared to the previous year[5] - Research and development expenses for the first three quarters of 2025 totaled ¥86,390,463.80, slightly down from ¥94,262,309.82 in the same period of 2024, reflecting a focus on cost management[21] - Research and development expenses for the first three quarters of 2025 were ¥81,377,480.47, slightly lower than ¥87,194,255.76 in the same period of 2024[31] Assets and Liabilities - Total assets increased to ¥3,333,180,308.13, reflecting a growth of 0.94% from the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥1,237,123,969.65, a decrease from ¥1,633,139,116.05 as of December 31, 2024[15] - Total liabilities as of September 30, 2025, are ¥270,589,586.86, compared to ¥260,216,820.06 at the end of 2024[16] - The company’s total assets amount to ¥3,333,180,308.13, slightly up from ¥3,302,078,019.35[16] - The total liabilities increased to ¥320,358,487.22 in 2025 from ¥309,726,459.75 in 2024, indicating a rise of approximately 8.3%[21] - The total equity attributable to shareholders of the parent company rose to ¥3,005,334,709.04 in 2025, up from ¥2,985,940,002.80 in 2024, showing a growth of about 0.7%[21] - The total assets as of September 30, 2025, amounted to ¥3,250,770,073.13, compared to ¥3,196,548,901.20 at the end of 2024, reflecting a growth of 1.7%[28] - The total liabilities increased to ¥234,714,813.43 as of September 30, 2025, compared to ¥208,824,659.42 at the end of 2024, representing an increase of 12.4%[28] Cash Flow - The company reported a net cash outflow from operating activities of ¥36,184,605.47 for the first three quarters of 2025, an improvement from a net outflow of ¥47,385,999.54 in the same period of 2024[24] - The net cash flow from operating activities for the first three quarters of 2025 was -169,157,966.17 RMB, compared to -38,443,019.02 RMB in the same period of 2024, indicating a significant decline[33] - The company reported a net cash outflow from investing activities of ¥470,927,346.19 for the period, compared to a net outflow of ¥453,149,000.19 in the previous year[25] - The cash inflow from financing activities was ¥42,129,537.78, a decrease from ¥92,594,887.24 in the same period of 2024[25] Shareholder Information - Total number of common shareholders at the end of the reporting period is 18,200[12] - The largest shareholder, Suzhou Huafeng Investment Center, holds 32,409,000 shares, representing 18.38% of total shares[12] Market and Product Development - The company reported a significant increase in high-power product revenue, contributing to the overall growth in operating income[9] - The company is focused on market expansion and has achieved significant customer recognition for its optical communication products, leading to increased sales[9] - The company has successfully opened up other business growth curves through prior investments in optical communication and related sectors[10] Other Financial Metrics - The basic earnings per share for the quarter was ¥0.0679, with a diluted earnings per share also at ¥0.0679[5] - The company achieved a basic earnings per share of ¥0.1188 in the first three quarters of 2025, recovering from a loss per share of ¥0.3604 in the same period of 2024[22] - The company incurred cash outflows of 457,987,126.83 RMB from operating activities in 2025, compared to 334,380,474.74 RMB in 2024, reflecting increased operational costs[33] - Cash received from sales of goods and services was 246,348,280.10 RMB in the first three quarters of 2025, a slight decrease from 249,647,414.78 RMB in 2024[33] Accounting Standards - The company has not adopted new accounting standards for the year 2025, as indicated in the announcement[35]

Core Insights - The company reported a third-quarter revenue of 125 million yuan, representing a year-on-year increase of 66.30% [1] - The net profit for the third quarter was 11.968 million yuan [1] - For the first three quarters, the total revenue reached 339 million yuan, showing a year-on-year growth of 67.42% [1] - The net profit for the first three quarters amounted to 20.9426 million yuan [1] Financial Performance - Third-quarter revenue: 125 million yuan, up 66.30% year-on-year [1] - Third-quarter net profit: 11.968 million yuan [1] - Year-to-date revenue (first three quarters): 339 million yuan, up 67.42% year-on-year [1] - Year-to-date net profit (first three quarters): 20.9426 million yuan [1]

证券代码：688048 证券简称：长光华芯 公告编号： 2025-049 苏州长光华芯光电技术股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2025 年 10 月 30 日 （星期四） 13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 24 日（星期五）至 10 月 29 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目进行提问。公司将在说明 会上对投资者普遍关注的问题进行回答。 苏州长光华芯光电技术股份有限公司（以下简称"公司"）为便于广大投资 者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 10 月 30 日 （星期四） 13:00-14:00 举行 2025 ...

Core Insights - The semiconductor sector experienced a decline of 0.9% on October 23, with Dazhi Semiconductor leading the drop [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Semiconductor Sector Performance - Notable gainers included: - Xidian Co., Ltd. (301629) with a closing price of 214.12, up 13.09% and a trading volume of 37,700 [1] - Jiangbolong (301308) closed at 190.19, up 5.12% with a trading volume of 213,000 [1] - Pudian Co., Ltd. (688766) closed at 119.06, up 4.44% with a trading volume of 85,400 [1] - Major decliners included: - Dazhi Semiconductor (688691) closed at 134.00, down 11.41% with a trading volume of 116,800 [2] - Jinhaitong (603061) closed at 132.20, down 5.10% with a trading volume of 16,800 [2] - Tailin Micro (688591) closed at 47.01, down 4.70% with a trading volume of 115,900 [2] Capital Flow Analysis - The semiconductor sector saw a net outflow of 2.971 billion yuan from institutional investors, while retail investors contributed a net inflow of 2.597 billion yuan [2][3] - Notable capital flows included: - Demingli (001309) with a net inflow of 631 million yuan from institutional investors [3] - Jiangbolong (301308) had a net inflow of 263 million yuan from institutional investors [3] - Zhongke Lanyun (688332) experienced a net inflow of 56.43 million yuan from institutional investors [3]

Core Insights - The semiconductor sector experienced a rise of 1.05% on October 20, with Yuanjie Technology leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Semiconductor Sector Performance - Yuanjie Technology (688498) closed at 413.98, with a significant increase of 14.49%, trading volume of 71,600 shares, and a transaction value of 2.978 billion [1] - Changguang Huaxin (688048) rose by 9.39% to 69.68, with a trading volume of 115,100 shares and a transaction value of 803 million [1] - Silan Microelectronics (600460) increased by 8.65% to 32.53, with a trading volume of 2.1866 million shares and a transaction value of 7.174 billion [1] - Other notable performers include Zhongti Electronics (300327) up 7.16%, Sitwei (688213) up 6.42%, and Zhizheng Co. (603991) up 5.09% [1] Decliners in the Semiconductor Sector - Lianyun Technology (688449) fell by 4.48% to 54.54, with a trading volume of 81,900 shares [2] - Dongxin Co. (688110) decreased by 3.27% to 97.32, with a trading volume of 212,200 shares [2] - Other notable decliners include Fuchuang Precision (688409) down 2.55%, Weijie Chuangxin (688153) down 2.50%, and Huatian Technology (002185) down 2.39% [2] Capital Flow in the Semiconductor Sector - The semiconductor sector saw a net outflow of 2.37 billion from main funds, while retail funds experienced a net inflow of 3.236 billion [2]

Market Overview - The A-share market experienced a pullback after an initial rise, with the ChiNext Index rising over 3% at one point. By the end of the trading day, the Shanghai Composite Index increased by 0.63%, the Shenzhen Component Index by 0.98%, and the ChiNext Index by 1.98%. The total trading volume in the Shanghai and Shenzhen markets was 1.75 trillion yuan, a decrease of 203.1 billion yuan compared to the previous trading day, marking the lowest trading volume since August 8 [1][2]. Sector Performance - The coal sector continued to strengthen, with Dayou Energy achieving 11 consecutive trading days of gains and Antai Group securing 3 consecutive gains. Gas stocks also saw a rapid rise, with Guo Xin Energy achieving 4 gains in 5 days. The optical module (CPO) concept stocks surged, with multiple stocks rising over 6% [4][3]. Company Highlights - Mu Xi Integrated Circuit (Shanghai) Co., Ltd. is set for its IPO review on October 24. Established in 2020, the company is one of the few in China that has mastered the development, design, and mass production of high-performance GPU chips and their underlying system software. Their flagship GPU, the Xi Yun C600, was launched at the 2025 World Artificial Intelligence Conference, featuring a domestic supply chain and advanced capabilities [6]. - Cambrian Technology reported a third-quarter revenue of 1.727 billion yuan, a year-on-year increase of 1333%, with a net profit of 567 million yuan, compared to a loss of 194 million yuan in the same period last year. The gross margin was 54.24%, indicating better-than-expected revenue performance [7]. Cryptocurrency Market - The cryptocurrency market saw significant gains, with Bitcoin rising to $111,209, an increase of over 4% in the past 24 hours, and Ethereum reaching $4,077, up over 5% [9][10]. Economic Indicators - The U.S. Federal Reserve hinted at a potential interest rate cut in October due to a deteriorating labor market, with expectations of a further increase in the likelihood of rate cuts in the coming months [13]. Investment Strategy - Analysts suggest maintaining a balanced allocation with a focus on cost-effectiveness, particularly in sectors such as semiconductor equipment, AI edge computing, batteries, and non-ferrous metals, while continuing to hold positions in gold and large financials [15][16].