Core Viewpoint - The company plans to repurchase shares with a total fund of no less than RMB 200 million and no more than RMB 400 million, using its own funds for employee stock ownership plans or equity incentives [2][7][30] Group 1: Share Repurchase Plan - The total amount for share repurchase is set between RMB 200 million and RMB 400 million [2][14] - The repurchase price will not exceed RMB 200 per share [2][15] - The repurchase will be conducted through centralized bidding on the Shanghai Stock Exchange [2][9] - The duration for the repurchase is within 12 months from the board's approval [2][10] - If the repurchase funds reach the upper limit, the plan will be completed early [11] Group 2: Purpose and Use of Repurchased Shares - The purpose of the repurchase is to enhance investor confidence and establish a long-term incentive mechanism [7][29] - The repurchased shares will be used for employee stock ownership plans or equity incentives within three years [7][12] - If the shares are not used within the specified period, they will be canceled [7][12] Group 3: Financial Impact and Company Status - The maximum repurchase amount of RMB 400 million will account for 5.21% of total assets, 6.81% of net assets, and 8.91% of current assets as of September 30, 2025 [17] - The company's debt-to-asset ratio is 23.48%, indicating that the repurchase will not significantly impact its debt repayment ability [18] - The repurchase will not change the company's control structure or affect its listing status [18] Group 4: Board Meeting and Approval - The board meeting to approve the repurchase plan was held on November 24, 2025, with all directors present and voting in favor [29][30] - The decision was made in accordance with the company's articles of association and relevant regulations [29]

Group 1 - The core point of the article is that Naxin Micro (SH 688052) announced a board meeting to discuss a share repurchase plan and reported its revenue composition for 2024, with integrated circuits accounting for 99.31% of total revenue [1][1][1] - Naxin Micro's market capitalization is currently valued at 20.7 billion yuan [1][1][1] Group 2 - The company held its third board meeting on November 24, 2025, to review the share repurchase proposal [1][1][1] - The revenue breakdown for Naxin Micro indicates a strong focus on integrated circuits, with only 0.69% coming from other business segments [1][1][1]

Key Points - Industrial Fulian (601138.SH) has not lowered its profit target for the fourth quarter [1] - Shanghai Port Bay (605598.SH) reported that its commercial aerospace and perovskite solar business account for less than 1% of its revenue, indicating a small scale and no profitability yet [1] - Zhaohong Wanli (603210.SH) plans to establish a wholly-owned subsidiary to invest 480 million yuan in the construction of an automotive body structure component production line [1] - Tongji Technology (600846.SH) announced that its subsidiary won the bid for the Xi'an Heshan Jinxiu Mansion project construction [1] - ST Zhongzhu (600568.SH) revealed that Shen Shang Group intends to transfer 100% equity of Langdi Technology to Bubugao Investment for 30 million yuan [1] - Naxinwei (688052.SH) plans to repurchase shares worth between 200 million to 400 million yuan [1] - Star Entertainment (300043.SH) reported that its actual controller and concerted parties plan to reduce their holdings by no more than 2.9% [1] - Cixing Co., Ltd. (300307.SH) intends to raise no more than 300 million yuan through a private placement [2] - Zhongding Co., Ltd. (000887.SH) has become a supplier of liquid cooling dummy loads for two domestic liquid cooling system integrators [2]

Core Viewpoint - Naxin Micro plans to repurchase shares through centralized bidding, with a total amount between 200 million and 400 million yuan, and a maximum repurchase price of 200 yuan per share, indicating confidence in long-term development and commitment to core team incentives [1][2][3] Summary by Relevant Sections Repurchase Plan - The repurchase plan was first disclosed on November 25, 2025, and will be implemented within 12 months after board approval [2] - The expected repurchase amount is between 200 million and 400 million yuan [2] - The source of funds for the repurchase will be the company's own funds [2] - The maximum repurchase price is set at 200 yuan per share [2] - The repurchased shares will be used for employee stock ownership plans or equity incentives [2] Financial Impact - As of September 30, 2025, the company's debt-to-asset ratio is 23.48%, with cash and cash equivalents amounting to 713.5972 million yuan [3] - The repurchase will not significantly impact the company's debt repayment ability or ongoing operations [3] - The company's stock price has experienced fluctuations, with a historical high of 331.03 yuan per share and a recent closing price of 144.98 yuan per share, which is 37.95% lower than the maximum repurchase price [3] Performance Overview - Naxin Micro's revenue has shown a fluctuating upward trend, with revenues of 1.67 billion yuan in 2022, 1.31 billion yuan in 2023, and 1.96 billion yuan in 2024 [4] - The net profit attributable to shareholders has been negative in recent years, with figures of 251 million yuan, -305 million yuan, and -403 million yuan for the same periods [4] - The gross profit margin has decreased from 48.50% in 2022 to 28.00% in 2024 [4] IPO Progress - Naxin Micro has initiated the "A+H" listing process, having passed the Hong Kong Stock Exchange hearing on November 18, 2025, with plans to issue up to 40.9769 million ordinary shares [4] - The funds raised from the IPO will be used for technology upgrades, expansion of automotive electronics, overseas market development, and strategic acquisitions [4] - While there is no direct causal relationship between the share repurchase and the IPO, it is noted that shareholder cash-outs may affect market confidence in the IPO [4][5]

Key Points - Industrial Fulian (601138.SH) has not lowered its profit target for the fourth quarter [1] - Shanghai Port Bay (605598.SH) reported that its commercial aerospace and perovskite solar business account for less than 1% of its revenue, indicating a small scale and no profitability [1] - Taihong Wanli (603210.SH) plans to establish a wholly-owned subsidiary to invest 480 million yuan in the construction of an automotive body structure component production line [1] - Tongji Technology (600846.SH) announced that its subsidiary won the construction bid for the Xi'an Heshan Jinxiu Mansion project [1] - ST Zhongzhu (600568.SH) revealed that Shen Shang Group intends to transfer 100% equity of Landi Technology to Bubugao Investment for 30 million yuan [1] - Naxinwei (688052.SH) plans to repurchase shares worth between 200 million to 400 million yuan [1] - Xinghui Entertainment (300043.SH) reported that its actual controller and concerted parties plan to reduce their holdings by no more than 2.9% [1] - Cixing Co., Ltd. (300307.SZ) intends to raise no more than 300 million yuan through a private placement [3] - Zhongding Co., Ltd. (000887.SZ) announced that its controlling subsidiary has become a supplier of liquid cooling dummy loads for two domestic liquid cooling system integrators [3]

Core Viewpoint - Naxin Micro plans to repurchase shares worth between 200 million and 400 million yuan, with a maximum repurchase price of 200.00 yuan per share, which is 37.95% higher than the current price of 144.98 yuan [1] Group 1: Share Repurchase - The company intends to use its own funds for the share repurchase, which will take place within 12 months [1] - The current share price has increased by 11.27% year-to-date [1] - Share repurchase is generally viewed as a price stabilization measure [1] Group 2: Financial Performance - For the period from January to September 2025, Naxin Micro achieved a revenue of 2.366 billion yuan, representing a year-on-year growth of 73.18% [2] - The net profit attributable to shareholders was -140 million yuan, showing a year-on-year increase of 65.54% [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders increased by 39.73% to 11,200 [2] - The average circulating shares per person decreased by 28.44% to 12,708 shares [2] - The company has distributed a total of 162 million yuan in dividends since its A-share listing, with 80.85 million yuan distributed over the past three years [3] Group 4: Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the fourth-largest circulating shareholder with 6.0758 million shares, being a new shareholder [3] - XINGQUAN He Run Mixed A (163406) is the seventh-largest circulating shareholder with 2.4277 million shares, having reduced its holdings by 1.1057 million shares [3] - Galaxy Innovation Mixed A (519674) and XINGQUAN Business Model Mixed (LOF) A (163415) have exited the top ten circulating shareholders list [3]

Core Insights - On November 24, several A-share listed companies disclosed their shareholding changes, with some announcing share buybacks while others reported share reductions [1][2] Summary of Buybacks - Zhongchumai's controlling shareholder plans to increase holdings between 42 million to 80 million yuan - Lege Co., Ltd.'s controlling shareholder intends to buy back shares worth 40 million to 80 million yuan - Naxinwei plans to repurchase shares valued at 200 million to 400 million yuan - Jichuan Pharmaceutical aims to buy back shares worth 25 million to 50 million yuan [2] Summary of Reductions - Zhongtian Rocket's seventh and eighth largest shareholders collectively reduced their holdings by 1.2565 million shares - Wuxian Media's shareholders plan to reduce their holdings by no more than 4.70% - Shenwei Electronics has seen recent share reductions by the National Integrated Circuit Industry Investment Fund - Zhongji Xuchuang's Wang Xiaodong has cumulatively reduced 708,600 shares at an average price of 414.24 yuan per share - Dinglong Co., Ltd.'s directors Yang Pingcai and Yao Hong plan to reduce their holdings by no more than 0.04% - Dongfang Ocean's shareholder Guoyuan Fund intends to reduce holdings by no more than 3% - Xinghui Entertainment's shareholders plan to reduce their holdings by no more than 2.90% - Zhongke Information's directors Shi Zhiming and Wang Xiaodong plan to reduce their holdings by no more than 0.11% - Hongfuyun's controlling shareholder Zhang Dingwu intends to reduce holdings by no more than 2.00% - Huifa Food's shareholder Hui Xiping plans to reduce holdings by no more than 3% - Yidian Tianxia's second largest shareholder has sold company shares during stock fluctuations - Xinlaifu's shareholder Xinlaifu Asset Management Plan intends to reduce holdings by no more than 0.83% - Huitong Co., Ltd.'s shareholder Tong'an Fund plans to reduce holdings by no more than 1% - Changjiang Materials' largest shareholder and actual controller Xiong Ying reduced 190,000 shares on November 21 - Luokai Co., Ltd.'s shareholder Tiansai Electric plans to reduce holdings by no more than 0.2684% - Yaopi Glass's shareholder China Composite Materials plans to reduce holdings by no more than 2.2619% [2]

格隆汇11月24日丨纳芯微(688052.SH)公布，本次回购的股份将在未来适宜时机全部用于员工持股计划 或股权激励。回购资金总额不低于人民币20,000万元，不超过人民币40,000万元；回购股份价格不超过 人民币200元/股。 ...

每经AI快讯，11月24日，纳芯微(688052.SH)公告称，公司拟以集中竞价交易方式回购公司股份，回购 资金总额不低于人民币20,000万元，不超过人民币40,000万元。回购股份将在未来适宜时机全部用于员 工持股计划或股权激励。若公司未能在股份回购实施结果暨股份变动公告后3年内使用完毕已回购股 份，尚未使用的已回购股份将予以注销。回购价格不超过人民币200元/股。 ...

证券代码：688052 证券简称：纳芯微 公告编号：2025-055 苏州纳芯微电子股份有限公司 关于以集中竞价交易方式回购公司股份的 回购报告书 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： ●回购股份金额：回购资金总额不低于人民币 20,000 万元，不超过人民币 40,000 万元； 案的事项发生，则存在回购方案无法顺利实施或者根据相关规定变更或终止本次回 购方案的风险； ●回购股份资金来源：自有资金 ●回购股份用途：本次回购的股份将在未来适宜时机全部用于员工持股计划或 股权激励。若苏州纳芯微电子股份有限公司（以下简称"公司"）未能在股份回购实 施结果暨股份变动公告后 3 年内使用完毕已回购股份，尚未使用的已回购股份将予 以注销。如国家对相关政策调整，则本回购方案按调整后的政策实行； ●回购股份价格：不超过人民币 200 元/股； ●回购股份方式：通过上海证券交易所系统以集中竞价交易方式回购； ●回购股份期限：自公司董事会审议通过本次回购股份方案之日起 12 个月内； ●相关股东是否存在减持计划：公 ...