二、 回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，公司应当在每个月的前 3 个交易日内公告截至上 月末的回购进展情况，现将公司回购股份情况公告如下： 截至 2025 年 7 月 31 日，公司通过上海证券交易所交易系统以集中竞价交易 方式累计回购公司股份 79.5289 万股，占公司总股本的比例为 0.1889%，回购成交 的最高价为 70.50 元/股，最低价为 65.82 元/股，支付的资金总额约为人民币 本次回购股份符合法律法规、规范性文件的规定及公司回购股份方案。 三、 其他事项 证券代码：688099 证券简称：晶晨股份 公告编号：2025-050 晶晨半导体（上海）股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 重要内容提示： 回购方案首次披露日 2025/4/11，由董事长暨实控人提议 回购方案实施期限 2025 年 4 月 10 日~2026 年 4 月 9 日 预计回购金 ...

（文章来源：证券日报） 证券日报网讯 7月31日晚间，晶晨股份发布公告称，截至2025年7月31日，公司通过上海证券交易所交 易系统以集中竞价交易方式累计回购公司股份79.5289万股，占公司总股本的比例为0.1889%。 ...

通过天眼查大数据分析，晶晨半导体(上海)股份有限公司共对外投资了10家企业，参与招投标项目6 次，知识产权方面有商标信息24条，专利信息347条，此外企业还拥有行政许可16个。 来源：金融界 晶晨股份最新一期业绩显示，截至2025一季报，公司营业总收入15.30亿元、同比增长10.98%，归属净 利润1.88亿元，同比增长47.53%，扣非净利润1.70亿元，同比增长44.04%，流动比率6.035、速动比率 4.677、资产负债率13.79%。 天眼查商业履历信息显示，晶晨半导体(上海)股份有限公司，成立于2003年，位于上海市，是一家以从 事计算机、通信和其他电子设备制造业为主的企业。企业注册资本41832.6368万人民币，实缴资本6352 万人民币。公司法定代表人为JOHN ZHONG。 金融界消息 截至2025年7月31日收盘，晶晨股份（688099）报收于72.35元，下跌2.65%，换手率2.0%， 成交量8.41万手，成交金额6.19亿元。 资金流向方面，今日主力资金净流出5876.71万元，占比成交额9.5%。其中，超大单净流出1435.23万 元、占成交额2.32%，大单净流出4441.4 ...

（文章来源：每日经济新闻） 晶晨股份（SH 688099，收盘价：72.35元）7月31日晚间发布公告称，截至2025年7月31日，公司通过上 海证券交易所交易系统以集中竞价交易方式累计回购公司股份约79.53万股，占公司总股本的比例为 0.1889%，回购成交的最高价为70.5元/股，最低价为65.82元/股，支付的资金总额约为人民币5495.18万 元。 2024年1至12月份，晶晨股份的营业收入构成为：集成电路占比100.0%。 ...

晶晨半导体(上海)股份有限公司（以下简称"公司"）于 2025 年 4 月 10 日召 开第三届董事会第十五次会议，审议通过了《关于以集中竞价交易方式回购公司 股份方案的议案》。同意公司使用自有资金通过上海证券交易所交易系统以集中竞 价交易方式回购部分公司已发行的人民币普通股 A 股，用于员工持股计划或股权 激励。公司拟用于回购的资金总额不低于人民币 5,000 万元（含）且不超过人民 币 10,000 万元（含），回购股份的价格不超过人民币 121.58 元/股（含），回购股 份的期限自董事会审议通过本次回购股份方案之日起 12 个月内。具体内容详见公 司于 2025 年 4 月 11 日在上海证券交易所网站（www.sse.com.cn）披露的《关于 以集中竞价交易方式回购股份的预案》（公告编号：2025-026）以及 2025 年 4 月 19 日披露的《关于以集中竞价方式回购股份的回购报告书》（公告编号：2025-034）。 二、回购股份的进展情况 证券代码：688099 证券简称：晶晨股份 公告编号：2025-050 晶晨半导体（上海）股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 本公 ...

Summary of Key Points Core Viewpoint - The company, Jingchen Co., Ltd. (688099.SH), has announced a share buyback program, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Group 1: Share Buyback Details - As of July 31, 2025, the company has repurchased a total of 795,289 shares, which represents 0.1889% of its total share capital [1] - The highest price paid for the repurchased shares was 70.50 CNY per share, while the lowest price was 65.82 CNY per share [1] - The total amount spent on the share buyback is approximately 54.95 million CNY, excluding transaction fees [1]

Investment Rating - The industry investment rating is "Positive" (maintained) [6] Core Viewpoints - Telecom operators are increasing their layout in AI terminals, which is expected to open up growth space for the industry. The focus should be on AI terminal SoC manufacturers such as Amlogic and Rockchip [4][22] - The market is currently more focused on smart hardware and internet companies' layouts in AI terminals, while the role of telecom operators in this area has been overlooked. Telecom operators have strong channel advantages and brand effects in the smart home sector [8][9] - The growth momentum of mobile smart screens is strong, with a projected retail volume of 254,000 units in 2024, representing a year-on-year increase of 65%. The online market accounts for 86.5% of total retail volume [12][20] Summary by Sections Investment Suggestions and Targets - It is recommended to pay attention to Amlogic (688099, Buy) and Rockchip (603893, Not Rated) as potential investment targets in the AI terminal SoC sector [4][22] Industry Trends - Major telecom operators are launching innovative AI smart home terminal products, enhancing their competitive advantage in the smart home business. The integration of mobile smart screens with 5G and broadband services is expected to promote the application of AI terminals in home scenarios [8][9] - Telecom operators are investing in AI large models to enhance the intelligence of AI terminals. For instance, China Mobile showcased its AI technologies at the 2025 World Artificial Intelligence Conference, while China Telecom introduced its self-developed star model system [15][20] Market Growth Projections - The mobile smart screen market is expected to maintain rapid growth, with total retail volume projected to reach 470,000 units in 2025, reflecting an 85% year-on-year increase [12][20]

AI and Market Trends - AI applications are entering a rapid growth phase, supported by mature infrastructure and decreasing costs of large model calls, enhancing commercial potential[3] - China possesses significant data reserves and a broad demand scale, providing a competitive advantage for AI development[3] Market Performance - The A-share market experienced a general rise, with the Shanghai Composite Index up by 1.67% and the Shenzhen Component Index up by 2.33% during the week[15] - Mid-cap indices such as the CSI 500 and CSI 1000 outperformed large-cap indices, with increases of 3.28% and 2.38% respectively[17] Dietary Supplements Industry - The global dietary supplement market is projected to reach $223 billion by 2026, driven by population growth and increasing health awareness[5] - HMB, a key nutrient for muscle health, is expected to see global production reach 3,572 tons by 2030, indicating strong market potential[5] Investment Recommendations - Recommended stocks include Toris (拓尔思), which has a robust open-source intelligence data resource, and Songlin Technology (松霖科技), focusing on health robots[3] - Other notable mentions are Rongxin Culture (荣信文化), which is expanding into AI+ education scenarios[3] Corporate Actions - This week, two companies listed on the A-share market, with C Shanda and C Jiyuan seeing first-day gains of 356% and 274% respectively[33] - There were six new public offerings announced, with an average discount rate of 18.9% and an average return of 40.7% on recent fundraising projects[34][40]

Group 1 - The core viewpoint of the article highlights the decline in fund sizes managed by prominent fund managers Zhang Kun and Xie Zhiyu during the second quarter, with Zhang's total fund size dropping to 55.047 billion yuan, a decrease of 5.775 billion yuan, and Xie's fund size at 39.266 billion yuan, down by approximately 446 million yuan [2] - Zhang Kun remains heavily invested in the consumer and technology sectors, increasing holdings in liquor stocks such as Wuliangye and Luzhou Laojiao, while reducing positions in Tencent Holdings and China Merchants Bank [2][3] - Xie Zhiyu has made new investments in Hong Kong innovative drug companies, including Innovent Biologics and Nuo Cheng Jianhua, while also increasing positions in his funds [2][12] Group 2 - Zhang Kun expressed that the pessimistic expectations in the market will eventually be broken, indicating that a sign of this would be when long-term government bond yields no longer remain at low levels that do not match economic development prospects [12] - Xie Zhiyu noted that the consumer sector is benefiting from an acceleration in policy subsidies, particularly in new consumption areas represented by tea drinks and trendy toys, although he cautioned that demand growth may face challenges in the second half of the year due to base effect declines [18] - The report indicates that Zhang Kun's flagship fund, E Fund Blue Chip, saw a decrease in size from 38.908 billion yuan to 34.943 billion yuan, with a stable stock position of 93.06% [3][5]

Core Insights - The launch of the Kimi K2 AI model in China has generated significant attention, marking a pivotal moment in the AI industry, similar to the "DeepSeek moment" [3] - The AI sector is characterized by a ten-year cycle of innovation, creating new demand through supply-side advancements, necessitating investors to stay attuned to technological evolution [4] Group 1: AI Industry Developments - The Kimi K2 model is designed as "Agentic AI," capable of understanding complex instructions and autonomously executing multi-step tasks, positioning it as a digital employee rather than just a chatbot [3] - The recent announcements from NVIDIA and AMD regarding the resumption of chip supplies to China indicate a positive trend in the AI hardware market, supporting local innovation [3] Group 2: Investment Opportunities - The Huabao AI ETF (589520) focuses on the domestic AI industry chain, showcasing strong characteristics of domestic substitution, with a balanced allocation across application software, terminal applications, and cloud chips [4] - The Huabao AI ETF has seen a remarkable performance, with the Sci-Tech Innovation Board AI Index rising by 90.90% since September 24, significantly outperforming other indices [5]