苏州纳芯微电子股份有限公司 2024年度独立董事述职报告 （王如伟） 2024年度，作为苏州纳芯微电子股份有限公司（以下简称"公司"、"纳芯微"） 独立董事，本人严格按照《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司治理准则》《上海证券交易所科创板股票上市规则》《上市公司独立董 事管理办法》等相关法律、法规、规范性文件和《公司章程》《独立董事工作制 度》的要求，认真履行独立董事职责，坚持独立、客观、公正的立场，认真审议 董事会相关议案，对其中重要事项进行必要的核实与沟通，切实维护公司和广大 股东的合法权益。现将2024年度履职情况报告如下： 一、独立董事的基本情况 （一）个人工作履历、专业背景及兼职情况 王如伟，男，律师，1971年1月出生，中国国籍，拥有加拿大永久居留权， 本科学历。1992年8月至2003年7月任苏州市人民政府外事办公室科员；2003年8 月至2012年8月历任中新苏州工业园区管委会科员、副处长、处长；2013年9月至 2013年12月任加拿大新斯科舍省高级法院公证员；2013年10月至2013年11月任加 拿大麦克尼斯律师事务所观察员；2014年1月至2015年10月任加拿 ...

苏州纳芯微电子股份有限公司 2024年度独立董事述职报告 （陈西婵） 2024年度，作为苏州纳芯微电子股份有限公司（以下简称"公司"、"纳芯微"） 独立董事，本人严格按照《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司治理准则》《上海证券交易所科创板股票上市规则》《上市公司独立董 事管理办法》等相关法律、法规、规范性文件和《公司章程》《独立董事工作制 度》的要求，认真履行独立董事职责，坚持独立、客观、公正的立场，认真审议 董事会相关议案，对其中重要事项进行必要的核实与沟通，切实维护公司和广大 股东的合法权益。现将2024年度履职情况报告如下： 一、独立董事的基本情况 （一）个人工作履历、专业背景及兼职情况 陈西婵，女，1984年7月出生，中国国籍，无境外永久居留权，毕业于重庆 大学会计学专业，获管理学博士学位，具有管理学副教授资格。2006年7月至2007 年7月，任瑞华会计师事务所（特殊普通合伙）河南分所助理审计；2007年8月至 2010年6月，攻读重庆交通大学管理学院硕士研究生；2010年7月至2018年3月， 任重庆工商大学融智学院教师、副教授；2015年9月至2019年6月，攻读重庆大学 ...

（洪志良） 2024年度，作为苏州纳芯微电子股份有限公司（以下简称"公司"、"纳芯微"） 独立董事，本人严格按照《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司治理准则》《上海证券交易所科创板股票上市规则》《上市公司独立董 事管理办法》等相关法律、法规、规范性文件和《公司章程》《独立董事工作制 度》的要求，认真履行独立董事职责，坚持独立、客观、公正的立场，认真审议 董事会相关议案，对其中重要事项进行必要的核实与沟通，切实维护公司和广大 股东的合法权益。现将2024年度履职情况报告如下： 一、独立董事的基本情况 （一）个人工作履历、专业背景及兼职情况 苏州纳芯微电子股份有限公司 2024年度独立董事述职报告 本人洪志良，男，1946年8月出生，中国国籍，无境外永久居留权，中国科 学技术大学学士，瑞士苏黎世高等理工学院博士。1970年7月至1980年6月，就职 于沈阳工业大学，任讲师；1980年7月至1985年6月，就读于瑞士苏黎世高等理工 学院；1985年7月至1987年12月，就职于复旦大学，任博士后；1989年2月至1989 年5月，就职于加州大学伯克利分校，任副研究员；1993年3月至1994 ...

前十大流通股东累计持有： 2168.69万股，累计占流通股比： 23.24%，较上期变化： -53.86万股。 | 名称 | 持有数量(万股) | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 深圳市慧悦成长投资基金企业(有限合伙) | 368.47 | 3.95 | -10.72 | | 中国光大银行股份有限公司-兴全商业模式优选混合型证券 | | | | | 投资基金(LOF) | 255.13 | 2.73 | 新进 | | 全国社保基金四零六组合 | 223.16 | 2.39 | 新进 | | 招商银行股份有限公司-兴全合润混合型证券投资基金 | 219.00 | 2.35 | 新进 | | 中信证券股份有限公司-嘉实上证科创板芯片交易型开放式 指数证券投资基金 | 214.68 | 2.30 | 新进 | | 苏州国润瑞祺创业投资企业(有限合伙) | 201.54 | 2.16 | -20.39 | | 深圳市创新投资集团有限公司 | 180.68 | 1.94 | -17.65 | | 兴业银行股份有限公司-兴全新视 ...

Group 1 - The report maintains an "outperform" rating for the semiconductor sector, highlighting the acceleration of domestic substitution in the analog chip segment due to increased tariffs between China and the US [2][7]. - The SW semiconductor index fell by 5.70% in March 2025, underperforming the electronic industry by 1.33 percentage points and the CSI 300 index by 5.63 percentage points [4][15]. - As of March 31, 2025, the SW semiconductor index's price-to-earnings ratio (TTM) was 92.69x, placing it in the 72.16 percentile since 2019, indicating a relatively high valuation level [4][26]. Group 2 - In Q4 2024, the proportion of semiconductor heavy holdings in funds increased to 11.4%, which is 6.8 percentage points above the semiconductor market capitalization [5][33]. - The global semiconductor sales in February 2025 reached $54.92 billion, marking a year-on-year growth of 17.1%, although the growth rate has been narrowing for five consecutive months [6][44]. - The report emphasizes the potential for improved performance in the analog chip sector, with companies like 圣邦股份 (Sengbang), 思瑞浦 (Siyipu), and 纳芯微 (Naxinwei) recommended for investment due to expected earnings recovery in 2025 [7][9]. Group 3 - The report notes that the global semiconductor sales for Q4 2024 were $170.9 billion, reflecting a year-on-year increase of 17.1% and a quarter-on-quarter increase of 3.0% [57]. - The report highlights that the NAND Flash contract price increased from $2.18 to $2.29 in February 2025, while DRAM contract prices remained stable [51][51]. - The semiconductor equipment sales in Q3 2024 reached $30.4 billion, showing a year-on-year growth of 18.7% [57].

Investment Rating - The report maintains a "Recommended" rating for key companies in the semiconductor industry, indicating a potential stock price increase of over 15% relative to the benchmark index within the next 12 months [4]. Core Viewpoints - The recent U.S. tariff policy is seen as a unilateral action that could accelerate the domestic replacement of semiconductor products in China. The report emphasizes the importance of increasing exposure to self-sufficient sectors within the semiconductor industry, particularly in areas with low domestic production rates [1][3]. - The semiconductor industry in China has made significant progress since the trade disputes began in 2018, and the new tariff measures are expected to further enhance the development of domestic alternatives [1][3]. Summary by Sections Semiconductor Industry Overview - The U.S. government announced a 34% tariff on all imports from the U.S. to China, effective April 10, 2025, which is viewed as a significant escalation in trade tensions [1]. - The report suggests that this situation is different from previous trade disputes, as it represents a broader attempt by the U.S. to isolate China economically [1]. Investment Opportunities - **Analog Chips**: The report highlights that the domestic supply rate for analog chips in China is below 15%, with even lower rates in automotive and high-end industrial markets. Companies like Siwei Pu, Naxin Micro, and Shengbang Co. are recommended due to their exposure to these sectors [2]. - **Semiconductor Equipment**: In 2024, China's total semiconductor equipment imports are projected to be $47.1 billion, with $4.5 billion from the U.S. The report suggests that the tariff response may accelerate the domestic replacement of semiconductor equipment, recommending companies like Northern Huachuang and Tuo Jing Technology [2]. - **Domestic Computing Power**: The report identifies SMIC as a key player in domestic computing power, with a focus on ASIC and CPU development. Companies such as Chipone Technology and Haiguang Information are highlighted for their potential growth in this area [3]. Key Company Forecasts and Valuations - The report provides earnings per share (EPS) and price-to-earnings (PE) ratios for several companies, with all listed companies receiving a "Recommended" rating. For example, SMIC is projected to have an EPS of 0.49 yuan in 2024 with a PE ratio of 180 [4].

2025 年第一次临时股东大会 会议资料 二〇二五年四月 1 / 26 苏州纳芯微电子股份有限公司 2025 年第一次临时股东大会会议资料 苏州纳芯微电子股份有限公司 2025 年第一次临时股东大会会议资料 证券代码：688052 证券简称：纳芯微 苏州纳芯微电子股份有限公司 2 / 26 苏州纳芯微电子股份有限公司 2025 年第一次临时股东大会会议资料目录 苏州纳芯微电子股份有限公司 2025 年第一次临时股东大会会议资料 苏州纳芯微电子股份有限公司 2025 年第一次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保 证股东大会的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司股东大会规则（2022 年修订）》以及《苏州纳芯微电子股份有限 公司章程》《苏州纳芯微电子股份有限公司股东大会议事规则》等相关规定，特 制定 2025 年第一次临时股东大会会议须知： 一、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。出 席会议的股东及股东代理人须在会议召开前 30 分钟到 ...

Core Viewpoint - The current phenomenon of "increased revenue without increased profit" in the automotive industry is fundamentally a result of technological homogenization and excessive competition, driven by aggressive competitive strategies among companies to capture future market positions [1][4]. Group 1: Industry Challenges - The automotive chip industry in China currently holds approximately 10%-15% of the global market share, with significant growth and increasing product coverage [3]. - The challenges faced by domestic chip manufacturers include the need to enhance product competitiveness and navigate global market expansion while maintaining a strong presence in the domestic market [3]. Group 2: Innovation Strategies - The essential path to overcoming industry "involution" lies in differentiated innovation, particularly in the chip sector, to avoid highly homogeneous product competition [2][5]. - Companies should leverage their advantages in understanding the Chinese market and customer needs to develop differentiated, customized, and innovative products [5]. Group 3: Domestic Chip Development - Although there are domestic alternatives for various chip categories, not all possess high-quality replacement capabilities, and achieving 100% domestic substitution is not currently feasible [6]. - The long-term outlook for domestic chips is optimistic, with the belief that they will eventually achieve superior replacement capabilities in a broader range of applications [6]. Group 4: AI and Emerging Applications - The automotive industry is witnessing a trend where AI applications are leading to new opportunities, such as in smart cars, flying cars, and humanoid robots, which share similar electrical architectures with traditional vehicles [7]. - The evolution of AI is creating significant opportunities for the chip industry, with a focus on product development that aligns with AI applications and sensor technologies [8].

Core Viewpoint - Naxin Micro, a high-tech company focused on automotive-grade signal chain chip development, is facing significant financial challenges despite its impressive market performance and global expansion efforts [2][4][5]. Group 1: Company Overview - Naxin Micro is dedicated to providing core chip solutions for the deep integration of the real world and digital systems, covering semiconductor devices, integrated circuits, and sensor sales [2]. - The company has expanded its business to include full-chain technology development services for electronic products and is also venturing into computer software and system integration [2]. Group 2: Financial Performance - In 2023, Naxin Micro reported a revenue of 1.311 billion yuan, a year-on-year decline of 21.52%, marking its first loss since going public [6]. - The net profit and net profit excluding non-recurring items were losses of 305 million yuan and 393 million yuan, respectively, with year-on-year declines of 221.85% and 332.08% [6]. - For 2024, the company expects a revenue of 1.961 billion yuan, a year-on-year increase of 49.56%, but still anticipates a net loss of 403 million yuan, an increase in loss of 31.97% [6]. Group 3: Strategic Initiatives - Naxin Micro has faced two consecutive years of losses, accumulating a total loss of 708 million yuan [7]. - The company is seeking to break through its current financing framework through an H-share issuance plan, aiming to connect with international capital markets to optimize its capital structure and enhance global resource allocation capabilities [7]. - Despite having a clear capital strategy, the company faces uncertainties from intense market competition and macroeconomic conditions, raising questions about its ability to reverse its performance through the Hong Kong listing [7].

Core Viewpoint - The company, Naxin Micro, is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its competitiveness and international strategy, despite facing significant losses in recent years [1][2][5]. Group 1: Company Overview - Naxin Micro specializes in high-performance analog and mixed-signal chips, focusing on sensors, signal chains, and power management for various sectors including automotive and industrial [2][4]. - The company has established branches in Germany, Japan, and South Korea, and has a localized sales team to support its international operations [1][3]. Group 2: Financial Performance - In 2024, Naxin Micro reported a revenue of 1.961 billion yuan, a year-on-year increase of 49.56%, but incurred a net loss of 403 million yuan, representing a 31.97% increase in losses compared to the previous year [1][5]. - The company has experienced a cumulative net loss of 708 million yuan over the past two years, with a significant decline in profitability in 2023, marking its first loss since going public [5][6]. Group 3: Market Position and Strategy - Naxin Micro's overseas revenue share has been steadily increasing, reaching 15.41% in the first half of 2024, up from 12.34% in 2023 [1][3]. - The company has made strategic acquisitions, including the purchase of 100% of Maigen for 1 billion yuan, which is expected to enhance its market position [6]. Group 4: Future Outlook - The company anticipates growth in the automotive electronics sector and improvements in consumer electronics demand, although it faces challenges from macroeconomic conditions and increased market competition [6].