炬芯科技股份有限公司 2025 年第二次临时股东大会会议资料 证券代码：688049 证券简称：炬芯科技 炬芯科技股份有限公司 2025 年第二次临时股东大会 会议资料 2025 年 9 月 | 2025 | 年第二次临时股东大会会议须知 1 | | --- | --- | | 2025 | 年第二次临时股东大会会议议程 3 | | 2025 | 年第二次临时股东大会会议议案 5 | | | 的议案》 7 | 炬芯科技股份有限公司 2025 年第二次临时股东大会会议资料 炬芯科技股份有限公司 2025 年第二次临时股东大会会议须知 为维护全体股东的合法权益，保障股东在本次股东大会期间依法行使权利， 根据《公司法》、中国证监会《上市公司股东会规则》和公司《股东大会议事规 则》等有关规定，特制定本会议须知： 一、公司负责本次股东大会的议程安排和会务工作,为确认出席大会的股东 或其代理人或其他出席者的出席资格，会议工作人员将对出席会议者的身份进行 必要的核对工作，请被核对者给予配合。 二、出席会议的股东及股东代理人须在会议召开前半小时到会议现场办理签 到手续，并按规定出示证券账户卡、身份证明文件或营业执照/注册证书 ...

Investment Rating - The investment rating for the company is "Buy" [4] Core Views - The company has accelerated its AI transformation across all product categories, achieving significant revenue growth driven by strong AI technology integration. In the first half of 2025, the company reported revenue of 449 million yuan, a year-on-year increase of 60.12%, and a net profit attributable to shareholders of 91 million yuan, up 123.19% year-on-year [2][3] - The company is focusing on upgrading existing application scenarios and expanding into emerging markets. The integration of AI with hardware has created new market opportunities, and the company is committed to providing low-power, high-performance AI chip solutions for battery-powered edge devices. The successful launch of several AI audio chips has already shown significant commercial success [3][4] Financial Forecasts - Revenue projections for the company are 910 million yuan, 1.21 billion yuan, and 1.61 billion yuan for the years 2025, 2026, and 2027 respectively. Net profits are expected to be 190 million yuan, 260 million yuan, and 370 million yuan for the same years [4][8] - The company anticipates a compound annual growth rate (CAGR) of approximately 39.4% for revenue from 2024 to 2025, and a net profit growth rate of 76% for the same period [8][9]

证券代码：688049 证券简称：炬芯科技 公告编号：2025-060 炬芯科技股份有限公司 关于参加 2025 年半年度科创板芯片设计行业集体业 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法律责任。 重要内容提示： 投资者可于 2025 年 9 月 1 日（星期一）至 9 月 5 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮 箱 investor.relations@actionstech.com 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。 炬芯科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 25 日披露公司 2025 年半年度报告，为便于广大投资者更全面深入地 了解公司 2025 年上半年经营成果、财务状况，公司计划于 2025 年 9 月 8 日（星期一）15:00-17:00 参加 2025 年半年度科创板芯片设计 行业集体业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 （三）会议召开方式：线上文字互动 三、参加人员 本次业绩 ...

Group 1 - The A-share semiconductor sector experienced a significant rally, with notable increases in stock prices [1] - Lexin Technology surged nearly 18%, while Juchip Technology rose over 13% [1] - Other companies such as Biyimi, Zhongke Lanyun, and others saw gains exceeding 10%, with companies like Rockchip and Broadcom Integration hitting the daily limit [1]

Core Viewpoint - The AI chip sector is experiencing significant gains, with a notable increase of 3.95% in early trading on August 27th [1] Company Performance - Cambricon Technologies saw a rise of 7.78% [1] - Yuntian Lifei increased by 7.68% [1] - Rockchip gained 6.96% [1] - Jushin Technology, Yanshan Technology, and Amlogic all rose by over 3% [1]

Core Viewpoint - The AI chip sector is experiencing significant growth, with notable increases in stock prices for various companies in the industry [1] Group 1: Market Performance - On August 27, the AI chip sector led the market with a rise of 3.95% [1] - Companies such as Cambricon Technologies saw an increase of 7.78%, while Yuntian Lifei rose by 7.68% [1] - Other companies like Rockchip and Jingtel also experienced gains, with increases of 6.96% and over 3% respectively [1]

Summary of Key Points Core Viewpoint - On August 25, a total of 200 stocks received buy ratings from brokerages, with 34 stocks announcing target prices, indicating a positive sentiment in the market [1]. Group 1: Stock Performance - The stocks with the highest target price increases are Yuyue Medical, CRRC Corporation, and Juchip Technology, with target price increases of 56.27%, 41.85%, and 41.85% respectively [1]. Group 2: Rating Adjustments - Out of the 200 stocks, 196 maintained their ratings, while 4 stocks received their first ratings. Additionally, 28 stocks attracted attention from multiple brokerages [1]. Group 3: Brokerage Attention - Yuyue Medical, Hualu Hengsheng, and Huadian Technology received the most ratings, with 4, 3, and 3 brokerages respectively providing ratings [1]. Group 4: Industry Analysis - The sectors with the highest number of stocks receiving buy ratings are Materials II, Capital Goods, and Semiconductors and Semiconductor Equipment, with 37, 34, and 22 stocks respectively [1].

Group 1 - The company achieved steady revenue growth in the first half of 2025, with a revenue of 449 million yuan, representing a year-over-year increase of 60.12% [1] - The gross profit margin reached 50.67%, an increase of 4.21 percentage points year-over-year, while the net profit attributable to shareholders was 91 million yuan, up 123.19% year-over-year [1] - In Q2 2025, the company reported a revenue of 257 million yuan, a year-over-year increase of 58.72% and a quarter-over-quarter increase of 33.98% [1] Group 2 - The SoC chip business experienced rapid growth, with significant penetration in the AIoT and wireless audio markets, driven by the integration of AI and hardware [2] - The company launched three AI audio chips (ATS323X, ATS362X, ATS286X) that have been quickly adopted by brand customers in wireless microphone products [2] - The company is strengthening partnerships with leading brands like Harman, Sony, and Bose, enhancing its market share in the Bluetooth speaker chip market [2] Group 3 - The commercialization of in-memory computing technology is accelerating, with the second generation of in-memory computing IP development on track to enhance NPU performance and energy efficiency [3] - The company is upgrading its ANDT development tools to strengthen the AI development ecosystem, facilitating model deployment for customers [3] - Revenue forecasts for 2025-2027 have been slightly adjusted, with expected revenues of 1 billion, 1.187 billion, and 1.485 billion yuan respectively, and net profits adjusted to 170 million, 270 million, and 370 million yuan [3]

Core Viewpoint - Juchip Technology (688049) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit, driven by growth in AI processor chips and audio products. Financial Performance - Total revenue reached 449 million yuan, a year-on-year increase of 60.12% [1] - Net profit attributable to shareholders was 91.38 million yuan, up 123.19% year-on-year [1] - Gross margin improved to 50.67%, an increase of 9.08% year-on-year, while net margin rose to 20.35%, up 39.39% year-on-year [1] - Operating cash flow per share increased by 146.66% to 0.96 yuan [1] Key Financial Metrics - Revenue (2024 vs 2025): 280 million yuan vs 449 million yuan [1] - Net profit (2024 vs 2025): 40.94 million yuan vs 91.38 million yuan [1] - Gross margin (2024 vs 2025): 46.46% vs 50.67% [1] - Net margin (2024 vs 2025): 14.60% vs 20.35% [1] - Total expenses (2025): 21.02 million yuan, accounting for 4.68% of revenue [1] Business Growth Drivers - The company experienced a surge in sales due to the AI processing chip's successful penetration into leading brands and the booming demand for low-latency, high-quality audio products [3] - The introduction of a new three-core architecture chip, which significantly enhances performance while maintaining low power consumption, is expected to drive future revenue growth [6][8] Market Outlook - The end-side AI market is projected to grow rapidly, with an estimated 4 billion devices by 2028, reflecting a compound annual growth rate of 32% [6] - The company plans to expand its product applications beyond audio to include health monitoring and other IoT solutions [10] Investment Interest - The company is held by notable fund managers, with significant interest from the Tai Xin Fund, which ranks among the top in performance [4][5] - Analysts expect the company's earnings for 2025 to reach 183 million yuan, with an average earnings per share of 1.25 yuan [4]

Summary of the Conference Call for 巨星科技 (Juxing Technology) Industry Overview - The conference call primarily discusses the audio technology industry, focusing on AI-driven products and wireless audio solutions. Key Financial Performance - In the first half of 2025, 巨星科技 achieved revenue of approximately 4.5 billion yuan, representing a year-on-year growth of 60.12% [2][3] - Net profit reached 91.72 million yuan, up 123.38% year-on-year, while the non-GAAP net profit surged by 269.08% to 85.90 million yuan [2][3] Core Business Insights - The company is undergoing a significant transformation towards AI products, with the introduction of three AI audio chips based on first-generation in-memory computing technology [3] - The penetration rate of AI chips in high-end audio brands has significantly increased, leading to a multiple increase in sales revenue [5] - The demand for low-latency wireless audio products has surged, particularly in the Bluetooth speaker SoC chip series, which shows strong growth potential [5] R&D and Innovation - R&D investment reached 123 million yuan, a 22.72% increase year-on-year, with R&D personnel constituting 74% of the workforce [5] - The company is developing second-generation in-memory computing technology to enhance NPU performance and energy efficiency [4] Market Position and Growth Projections - 巨星科技's market share within the 哈曼 (Harman) ecosystem is rapidly increasing, with expectations to become a major supplier by 2026, contributing to high double-digit percentage growth [7] - The company anticipates maintaining a growth rate of 20%-30% in the coming years, driven by international brands like 哈曼 and 索尼 (Sony) [10] Product Line and Strategic Partnerships - The company is expanding its product lines to include wireless microphones, gaming headsets, and immersive home audio systems, maintaining overall growth [11] - Collaborations with major brands such as 哈曼, 索尼, and Bose are expected to solidify its position in the Bluetooth speaker market [15] Wireless Technology Trends - The market penetration of wireless technology is projected to exceed 50% by the end of 2026, with a potential ultimate penetration of around 80% [9] - The wireless gaming headset market is currently under 40% penetration, with rapid growth expected as wireless replaces wired solutions [8] Competitive Landscape - In the wireless gaming headset sector, the main competitors are Skyworks and 达发 (Dafa), with no significant new entrants observed in the market [16] - The company has a first-mover advantage in the wireless microphone market, being a leading supplier to major brands [11] Future Product Developments - The first-generation AI chip series 362X has been successfully launched, with the second-generation JM2 series expected to enter mass production in 2026 [17] - The 609X chip, aimed at high-end wearable devices, is anticipated to launch in 2026, with a price expected to be below $5 [19][20] Conclusion - 巨星科技 is positioned for significant growth driven by AI technology and strategic partnerships, with a strong focus on innovation and market expansion in the audio technology sector.