证券代码：688099 证券简称：晶晨股份 公告编号：2025-004 晶晨半导体（上海）股份有限公司 关于公司董事长暨实际控制人提议 公司回购股份的公告 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1月27日收 到公司董事长暨实际控制人《关于提议以集中竞价交易方式回购公司股份的函》。 提议内容主要如下： 3、回购股份的方式：通过上海证券交易所交易系统以集中竞价交易方式进 行回购。 一、提议人提议回购股份的原因和目的 基于对公司未来持续发展的信心和对公司价值的认可，为了维护广大投资者 利益，同时促进公司稳定健康发展，有效地将股东利益、公司利益和员工个人利 益紧密结合在一起，根据相关法律法规，公司董事长暨实际控制人提议公司以集 中竞价交易方式回购部分股份。 2、回购股份的用途：本次回购的股份拟在未来合适时机用于实施员工持股 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日后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 ...

证券代码：688099 证券简称：晶晨股份 公告编号：2025-003 晶晨半导体（上海）股份有限公司 特此公告。 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）股份有限公司董事会 2025 年 1 月 25 日 截止本公告披露日，晶晨股份实际控制人通过 Amlogic (Hong Kong) Limited 间接持有晶晨股份 11.32%的股份。 实际控制人自愿承诺不减持公司股份的公告 晶晨半导体（上海）股份有限公司（以下简称"公司"或"晶晨股份"）于 近日收到公司实际控制人出具的《关于自愿承诺未来 12 个月不减持公司股份的 承诺函》，现将相关情况公告如下： 基于对公司未来发展前景的信心和对公司长期价值的认可，促进公司持续、 稳定、健康发展，切实维护投资者权益和资本市场稳定，公司实际控制人承诺自 2025 年 1 月 24 日起未来 12 个月内（2025 年 1 月 24 日至 2026 年 1 月 23 日）不 减持其持有的公司股份。在上述承诺期间内，如发生资本公积转增股本、派送股 票红利、配股 ...

证券代码：688099 证券简称：晶晨股份 公告编号：2025-002 晶晨半导体（上海）股份有限公司 股东询价转让计划书 Amlogic (Hong Kong) Limited（以下简称"出让方"）保证向晶晨半导体（上 海）股份有限公司（以下简称"晶晨股份"）提供的信息内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其真实性、准确性和完整性依法承担法律责 任。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 1 拟参与晶晨股份首发前股东询价转让（以下简称"本次询价转让"）股 东为 Amlogic (Hong Kong) Limited； 公司实际控制人直接或间接持有的股份不参与本次询价转让； 出让方拟转让股份的总数为 16,330,657 股，占晶晨股份总股本的比例 为 3.90%； 本次询价转让不通过集中竞价交易或大宗交易方式进行，不属于通过 二级市场减持。受让方通过询价转让受让的股份，在受让后 6 个月内 不得转让； 本次询价转让的受让方为具备相应定价能力和风险承受能力的机构投 资者。 | 序号 | 股东名称 | 持股数量（股） | 持股占总股本比例 | | - ...

中信证券股份有限公司 关于晶晨半导体（上海）股份有限公司股东 向特定机构投资者询价转让股份 相关资格的核查意见 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 1 中信证券股份有限公司（以下简称"中信证券"）受晶晨半导体（上海）股 份有限公司（以下简称"晶晨股份"）股东 Amlogic (Hong Kong) Limited（以下 简称"出让方"）委托，组织实施本次晶晨股份首发前股东向特定机构投资者询 价转让（以下简称"本次询价转让"）。 根据《关于在上海证券交易所设立科创板并试点注册制的实施意见》《科创 板上市公司持续监管办法（试行）》《上海证券交易所科创板股票上市规则》《上 海证券交易所科创板上市公司自律监管指引第 4 号——询价转让和配售》（以下 简称"《询价转让和配售指引》"）等相关规定，中信证券对参与本次询价转让 股东的相关资格进行核查，并出具本核查意见。 一、本次询价转让的委托 中信证券收到出让方关于本次询价转让的委托，委托中信证券组织实施本次 询价转让。 二、关于参与本次询价转让股东相关资格的核查情况 （一）核查过程 根据相关法规要求，中信证券对出让方的相关资格进行了核查。出让方已出 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][6]. Core Views - The company achieved a record high in Q3 performance, with a revenue of 16.24 billion yuan, representing a year-on-year growth of 7.73%, and a net profit of 2.32 billion yuan, up 79.52% year-on-year [3][4]. - The multi-product line strategy has shown significant advantages, with the T series sales revenue growing over 50% year-on-year, and the W series Wi-Fi 6 chips gaining substantial market share [5]. - The company is focused on enhancing operational efficiency and has implemented various initiatives to improve performance [4]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported a revenue of 46.40 billion yuan, a 20.28% increase year-on-year, and a net profit of 5.94 billion yuan, up 89.26% year-on-year [3][4]. - The comprehensive gross margin for Q3 was 38.22%, an increase of 2.24 percentage points year-on-year [4]. Revenue and Profit Forecast - The company is projected to achieve revenues of 66.94 billion yuan, 82.57 billion yuan, and 100.99 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 8.23 billion yuan, 11.07 billion yuan, and 13.79 billion yuan [6][8]. Product Development - The company has made breakthroughs in new product development, including a 6nm chip with integrated 4K and AI capabilities, and has secured all shares in the first commercial batch bidding for 8K chips [5].

Financial Projections - The company expects 2024 annual revenue to be approximately CNY 5.92 billion, an increase of about CNY 549.06 million, representing a year-on-year growth of approximately 10.22%[2] - The projected net profit attributable to the parent company for 2024 is around CNY 820 million, an increase of about CNY 322.96 million, reflecting a year-on-year growth of approximately 64.65%[2] - The net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be about CNY 740 million, an increase of approximately CNY 355.25 million, indicating a year-on-year growth of approximately 92.33%[2] - The company achieved a revenue of CNY 5.37 billion in 2023, with a net profit of CNY 498.04 million[3] Research and Development - The company’s R&D expenses for 2024 are approximately CNY 1.35 billion, an increase of about CNY 69 million compared to the previous year, with cumulative R&D expenses over the past three years reaching approximately CNY 3.82 billion[7] Product Performance - The S series products have secured the largest share in domestic operator tenders, while the T series sales increased by over 30% year-on-year, expanding market share significantly[6] - The W series sales exceeded 14 million units in 2024, marking a cumulative sales figure of over 30 million units since its launch in 2020[6] - The company has launched multiple strategic new products, including the 6nm chip S905X5 series and the 8K chip S928X, which have received significant orders from both domestic and international operators[8] Operational Efficiency - The company anticipates continued improvement in operational efficiency, with a gross margin of 35.37% in the first half of 2024 and 37.59% in the second half[9] - The company has identified 2024 as the "Year of Operational Efficiency Improvement," with ongoing initiatives expected to enhance operational performance further in 2025[9]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 130.68 CNY based on a 36x PE valuation for 2026 [3][6]. Core Insights - The company is expected to benefit from the AI trend in televisions, with major manufacturers showcasing AI televisions at CES 2025, indicating a growing market for AI-enabled devices [2][10]. - The company's earnings per share (EPS) forecasts for 2024, 2025, and 2026 are 1.94 CNY, 2.71 CNY, and 3.63 CNY respectively, reflecting adjustments in expense ratios and asset impairment losses [3][14]. Financial Performance Summary - Revenue projections for the company are as follows: 6,519 million CNY in 2024, 8,250 million CNY in 2025, and 10,210 million CNY in 2026, with growth rates of 21%, 27%, and 24% respectively [5][17]. - Operating profit is expected to recover significantly, with forecasts of 859 million CNY in 2024, 1,200 million CNY in 2025, and 1,606 million CNY in 2026, showing growth rates of 71%, 40%, and 34% respectively [5][17]. - The net profit attributable to the parent company is projected to be 811 million CNY in 2024, 1,136 million CNY in 2025, and 1,522 million CNY in 2026, with growth rates of 63%, 40%, and 34% respectively [5][17]. - The company's gross margin is expected to stabilize around 37% from 2024 to 2026, while the net margin is projected to improve from 12.4% in 2024 to 14.9% in 2026 [5][17]. Market Position and Competitive Landscape - The company has established deep collaborations with major global television ecosystems, including Google TV and Amazon Fire TV, positioning itself well within the growing AI television market [10][11]. - The introduction of advanced features in AI televisions, such as real-time translation and personalized content, is expected to drive demand for the company's SoC (System on Chip) products [10][12].

Inventory Management - As of September 30, 2024, the company's inventory amounted to 1.271 billion CNY, primarily consisting of products, with a small portion of raw materials [1] - The majority of inventory items have an aging of less than 6 months, indicating a healthy inventory structure [1] - The inventory turnover days for the third quarter were 117 days, reflecting a fast sales pace and efficient turnover [1] Investor Communication - The company engaged in thorough communication with investors during the reception process, adhering to the "Information Disclosure Management System" to ensure the accuracy and completeness of information disclosed [1] Financial Performance - For the first three quarters of 2024, the company achieved a comprehensive gross margin of 36.37%, with a gross margin of 34.22% for the same period [11] - The gross margin for Q2 was 36.34%, while Q3 saw an increase to 38.22%, representing a year-on-year increase of 2.24 percentage points [11] Product Development - The company launched the industry's first 6nm commercial chip integrating 4K and AI capabilities, with CPU performance improved by over 60% and GPU performance increased by 230% compared to previous generations [9][10] - The new chip supports H.266/VVC video codec standards, reducing bandwidth and storage requirements by 50% compared to H.265 [8] - The company has over 15 chips with NPU computing power ranging from 1T to 5T, covering various applications in smart home technology [9] Market Expansion - The company has successfully expanded its 8K chip into the domestic market, securing all shares in the first batch of tenders from two major operators, China Mobile and China Telecom [9] - The automotive electronics sector is a long-term strategy for the company, with successful applications in multiple vehicle models, including BMW and Lincoln [11]

证券代码：688099 证券简称：晶晨股份 公告编号：2024-046 晶晨半导体（上海）股份有限公司 2019 年限制性股票激励计划预留授予部分第二批次 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 240,800 股。 本次股票上市流通总数为 240,800 股。 本次股票上市流通日期为 2024 年 11 月 18 日。 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司有关业务规则的规定，晶晨半导体（上海）股份有限公司（以 下简称"晶晨股份"或"公司"）于近日收到中国证券登记结算有限责任公司上海分公 司出具的《证券变更登记证明》，公司完成了 2019 年限制性股票激励计划预留授 予部分第二批次和第三批次第三个归属期及 2021 年限制性股票激励计划预留授予 部分第二批次第二个归属期的股份登记工作。现将有关情况公告如下： 一、 本次限制性股票归属的决策程序及相关信息披露 1、2019 年限制性股票激励计划归属的决策程序及相关信息披露 和第三批次第三个归属期及 2021 年限制性股票激励计划 预留授予部分第二批次第二个归属期 归属结果暨股 ...

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company achieved a revenue of 4.64 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 20.28%, while the net profit attributable to shareholders reached 594 million yuan, up 89.26% year-on-year [2] - The T-series chips continue to gain significant market share and customer adoption, with growth rates exceeding the overall TV market growth [2] - The company's 6nm chip, the first in the industry to integrate 4K and AI capabilities, shows substantial performance improvements, with CPU performance up over 60% and GPU performance up over 230% compared to previous generations [2] - The company is expanding its product lines and enhancing AI capabilities, which are expected to improve user satisfaction and reduce operational costs for carriers [2] Financial Summary - Revenue is projected to grow from 5.37 billion yuan in 2023 to 6.41 billion yuan in 2024, with a growth rate of 19.35% [3][5] - The net profit attributable to shareholders is expected to increase from 498 million yuan in 2023 to 851 million yuan in 2024, reflecting a growth rate of 70.83% [3][5] - The earnings per share (EPS) is forecasted to rise from 1.19 yuan in 2023 to 2.03 yuan in 2024 [3][5] - The company maintains a low debt-to-asset ratio of 13.6% [1]