数据显示，华夏基金旗下1只基金位居晶晨股份十大流通股东。华夏上证科创板50成份ETF（588000） 二季度减持47.15万股，持有股数1843.61万股，占流通股的比例为4.38%。根据测算，今日浮盈赚取约 8425.3万元。 截至发稿，荣膺累计任职时间9年312天，现任基金资产总规模1382.88亿元，任职期间最佳基金回报 129.49%， 任职期间最差基金回报-7.58%。 华夏上证科创板50成份ETF（588000）成立日期2020年9月28日，最新规模833.43亿。今年以来收益 25.65%，同类排名1481/4222；近一年收益90.71%，同类排名358/3798；成立以来亏损8.99%。 华夏上证科创板50成份ETF（588000）基金经理为荣膺、赵宗庭。 9月10日，晶晨股份涨5.1%，截至发稿，报94.19元/股，成交7.43亿元，换手率1.92%，总市值396.64亿 元。 资料显示，晶晨半导体(上海)股份有限公司位于上海市浦东新区秀浦路2555号漕河泾康桥商务绿洲E5， 成立日期2003年7月11日，上市日期2019年8月8日，公司主营业务涉及系统级SoC芯片及周边芯片的研 发、设计 ...

Core Viewpoint - The company, A-share listed Jingchen Co., Ltd. (688099.SH), plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its capital strength and competitiveness, furthering its international strategy [1][2]. Group 1: Company Overview - Jingchen Co., Ltd. is a global fabless semiconductor system design company, focusing on the research, design, and sales of system-on-chip (SoC) and peripheral chips [2][3]. - The company's core products include S series SoC chips, which are widely used in various multimedia terminal products, including IPTV set-top boxes and OTT set-top boxes [2][3]. Group 2: Financial Performance - In the first half of 2025, Jingchen Co., Ltd. achieved a revenue of 3.33 billion yuan, a year-on-year increase of 10.42%, and a net profit of 497 million yuan, up 37.12% [1][5]. - The company reported a record high shipment of nearly 50 million units in the second quarter of 2025, with revenue reaching 1.80 billion yuan, a year-on-year increase of 9.94% [5][6]. Group 3: International Market Presence - By the first half of 2025, the company's overseas revenue reached 2.96 billion yuan, accounting for 88.9% of total revenue, with an overseas gross margin of 38.49%, significantly higher than the domestic gross margin of 23.25% [1][3]. - The company has received certifications from major streaming services like Netflix, Google, and Amazon, and its products are widely adopted by both domestic and international operators [3][4]. Group 4: Research and Development - Since 2022, the company has consistently invested over 1 billion yuan in R&D annually, with R&D expenses reaching 735 million yuan in the first half of 2025, representing a year-on-year increase of 8.98% [6]. - As of the first half of 2025, the company employed 1,564 R&D personnel, accounting for 86.55% of its total workforce, with an average salary of 332,800 yuan [6].

Group 1: Company Developments - Jingchen Semiconductor plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance capital strength and international competitiveness, with a revenue of 3.33 billion yuan and a net profit of 497 million yuan in the first half of 2025, reflecting a year-on-year growth of 10.42% and 37.12% respectively [1] - Panjie Electronics has submitted a listing application to the Hong Kong Stock Exchange, recognized as a global leader in wireless sensor SoC technology, and is the largest automotive wireless sensor SoC company in China, with significant R&D investments but currently operating at a loss [2] - Health 160 International has passed the listing hearing on the Hong Kong Stock Exchange, positioning itself as the largest digital healthcare service platform in China, despite currently being in a loss-making state [5] Group 2: Market Trends - The total amount of new stock financing in Hong Kong reached 134.5 billion HKD in the first eight months of this year, nearly six times higher than the same period in 2024, with total refinancing exceeding 358 billion HKD, indicating strong support for enterprise development [3][4] - The Hong Kong Stock Exchange has seen a significant increase in new stock financing and refinancing, with nearly 40% of the refinancing coming from technology companies, showcasing the growing importance of high-tech enterprises in the market [3][4] Group 3: Market Performance - As of September 5, the Hang Seng Index stood at 25,417.98, with a daily increase of 1.43%, while the Hang Seng Tech Index rose by 1.95% to 5,687.45, and the National Enterprises Index increased by 1.34% to 9,057.22 [6]

Investment Rating - The report indicates a positive outlook for the thermal management materials industry, driven by strong downstream market demand and technological advancements [3][21]. Core Insights - The thermal management materials industry is experiencing sustained growth due to increasing demand from downstream sectors such as consumer electronics, automotive electronics, and data centers. The global thermal management market is projected to grow at a compound annual growth rate (CAGR) of 8.5%, increasing from $17.3 billion in 2023 to $26.1 billion by 2028 [3][21]. - The penetration rates of heat pipes and vapor chambers are continuously rising, with local procurement becoming a significant trend as domestic companies mature technologically [3][21]. Summary by Sections 1. Industry Demand and Growth - The global demand for thermal management materials is on the rise, with a forecasted market size growth from $17.3 billion in 2023 to $26.1 billion by 2028, reflecting a CAGR of 8.5% [3][21]. - The shift towards high-performance, miniaturized, and integrated electronic products is intensifying the need for effective thermal management solutions [3][21]. 2. Market Segmentation - Heat pipes and vapor chambers are becoming mainstream solutions in high-end smartphones, with market sizes expected to reach $3.776 billion and $1.197 billion respectively by 2025, with CAGRs of 6.17% and 14.20% [15][18]. - The thermal interface materials market is projected to grow from $5.2 billion in 2019 to $7.6 billion by 2026, with a CAGR of 5.57% [16][19]. 3. Local Procurement Trends - Local procurement is becoming a dominant trend in the thermal management materials industry, driven by supply chain security concerns among domestic electronic brands [35][36]. - Domestic companies like Suzhou Tianmai and Zhongshi Technology are expected to benefit from this trend as they enhance their technological capabilities [35][36]. 4. Key Beneficiaries - Suzhou Tianmai is highlighted as a key player in the industry, having established itself early in the ultra-thin heat pipe and vapor chamber market, achieving significant production scale and client certifications [4][35].

Core Viewpoint - Company plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance capital strength and global competitiveness [2][3] Company Overview - Founded in 2003, the company became one of the first to list on the Shanghai Stock Exchange's Sci-Tech Innovation Board in August 2019 [2] - It is a leading fabless semiconductor system design company, focusing on the research, design, and sales of SoC chips and peripheral chips [2] - Product lines include multimedia smart terminal SoC chips, wireless connection chips, and automotive electronic chips, widely used in smart home, automotive electronics, office education, and industrial commercial sectors [2] Financial Performance - In the first half of 2025, the company achieved revenue of 3.33 billion yuan, a year-on-year increase of 10.42%, marking a historical high for the same period [2] - Net profit reached 497 million yuan, up 37.12% year-on-year, driven by strong product sales and rapid release of new products [2] Product Growth - Notably, sales of smart home products and wireless connection chips saw significant growth, with smart home product sales increasing over 50% year-on-year [3] - Wi-Fi 6 chip sales surpassed 1.5 million units in the second quarter, exceeding the total sales for 2024, with a quarter-on-quarter increase of over 120% [3] Market Position - The company is a leader in the global audio and video SoC market, maintaining a strong position in the smart set-top box and smart TV chip markets [3] - Over 90% of its revenue comes from overseas markets, with a customer network covering North America, Europe, Latin America, Asia-Pacific, and Africa [3] Strategic Implications - The potential listing in Hong Kong could help the company integrate global resources, enhance R&D investment, and expand market capabilities [3] - It aims to solidify its leading position in multimedia SoC, emerging automotive electronics, and AI audio-video sectors, providing a significant channel for global investors to share in the growth of China's semiconductor industry [4]

Core Viewpoint - The company, AmLogic (Shanghai) Co., Ltd., has announced significant corporate governance changes, including the abolition of the supervisory board and the issuance of H shares for listing on the Hong Kong Stock Exchange to enhance its capital strength and international competitiveness [1][2][3]. Group 1: Corporate Governance Changes - The board of directors unanimously agreed to abolish the supervisory board, transferring its powers to the audit committee of the board [1]. - The registered capital will be adjusted from RMB 419,935,640 to RMB 421,101,263 due to matters related to restricted stock [1]. - The company plans to revise its articles of association and related rules accordingly [1][2]. Group 2: H Share Issuance - The company intends to issue H shares and apply for listing on the main board of the Hong Kong Stock Exchange to further its international strategy [5][6]. - The shares will be issued at a nominal value of RMB 1.00 each, with the issuance expected to not exceed 10% of the total share capital post-issuance [8][9]. - The issuance will include both a public offering in Hong Kong and an international placement [9][10]. Group 3: Fund Utilization - Proceeds from the H share issuance will be allocated to advanced chip development, global customer service system construction, technology ecosystem integration, and general corporate purposes [15][16]. - The board will have the authority to adjust the use of raised funds based on regulatory feedback and operational needs [15]. Group 4: Shareholder Meeting and Authorizations - The board has proposed to hold the first extraordinary general meeting of 2025 on September 22, 2025, to discuss these matters [25]. - The board seeks authorization to handle all matters related to the H share issuance, with a validity period of 24 months from the date of shareholder approval [14][16].

证券代码：688099 证券简称：晶晨股份 公告编号：2025-056 第三届监事会第十八次会议决议公告 本公司监事会及全体监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。 晶晨半导体（上海）股份有限公司（以下简称"公司"）第三届监事会第十 八次会议于2025年9月5日以通讯表决的方式召开，全体监事一致同意豁免本次监 事会会议的提前通知期限，公司以通讯方式向全体监事发出召开本次会议的通知， 与会的各位监事已知悉与所议事项相关的必要信息。本次会议由监事会主席赵丹 女士召集并主持，会议应到监事3名，实到监事3名，会议的召集和召开程序符合 《中华人民共和国公司法》等法律、法规、部门规章以及《晶晨半导体（上海） 股份有限公司章程》（以下简称"《公司章程》"）的有关规定，作出的决议合 法、有效。 会议以投票表决方式审议通过了以下议案： 一、审议通过《关于变更注册资本、取消监事会并修订 <公司章程> 及相关 议事规则的议案》 根据相关法律法规的规定，结合公司的实际情况及需求，公司将不再设置监 事会，监事会的职权由董事会审计委员会行使，《晶晨半导体（上海） ...

Meeting Information - The first extraordinary general meeting of shareholders for 2025 will be held on September 22, 2025, at 14:30 [1] - The meeting will take place at the conference room on the first floor of E5 Building, Caohejing Kangqiao Business Oasis, 2555 Xiupu Road, Pudong New District, Shanghai [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's network voting system [1] Voting Procedures - Shareholders can vote via the Shanghai Stock Exchange network voting system from 9:15 to 15:00 on the day of the meeting [1][4] - Specific voting times through the trading system are from 9:15-9:25, 9:30-11:30, and 13:00-15:00 [1] - Shareholders must complete identity verification to vote on the internet platform [4] Agenda Items - The meeting will review several proposals, including amendments to the company's articles of association and matters related to the issuance and listing of H shares [2][4] - All proposals have been approved by the company's board and supervisory board prior to the meeting [2] Attendance and Registration - Shareholders registered by the close of trading on September 16, 2025, are eligible to attend the meeting [6] - Registration for attendance must be completed by September 19, 2025, with specific documentation required [5][7] Additional Information - The meeting is expected to last half a day, and attendees will be responsible for their own travel and accommodation expenses [8] - The company will provide reminders to shareholders about the meeting and voting through SMS notifications [4]

Core Viewpoint - The company plans to issue H shares and apply for listing on the Hong Kong Stock Exchange to enhance its capital strength and international competitiveness [2][3]. Group 1: Company Actions - The company's board of directors has approved the proposal for issuing H shares and listing on the Hong Kong Stock Exchange [1][2]. - The issuance complies with relevant Chinese laws and regulations, and the company will seek necessary approvals from regulatory bodies such as the China Securities Regulatory Commission and the Hong Kong Stock Exchange [2][3]. Group 2: Current Status and Future Steps - The company is actively discussing the issuance with relevant intermediaries, but specific details regarding the issuance have not yet been finalized [3]. - There is significant uncertainty regarding whether the issuance will pass the necessary review and approval processes [3].

证券代码：688099 证券简称：晶晨股份 公告编号：2025-057 晶晨半导体（上海）股份有限公司 关于变更注册资本、取消监事会 并修订《公司章程》及修订、制定相关内部治理制度的公告 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。 晶晨半导体（上海）股份有限公司（以下简称"公司"）于2025年9月5日召 开第三届董事会第二十次会议和第三届监事会第十八次会议，审议通过了《关于 变更注册资本、取消监事会并修订 <公司章程> 及相关议事规则的议案》《关于修 订和制定公司部分内部治理制度的议案》。现将具体情况公告如下： 一、关于变更注册资本的情况 次会议，审议通过了《关于公司2021年限制性股票激励计划首次授予部分第四个 归属期符合归属条件的议案》《关于公司2023年第二期限制性股票激励计划第一 个归属期符合归属条件的议案》 《关于作废处理部分限制性股票的议案》，监事会 对归属名单进行核实并发表了核查意见。立信会计师事务所（特殊普通合伙）于 （信会师报字［2025］第ZA14403号）， 二、关于取消公司监事会的相关情况 根据 ...