格隆汇2月11日｜晶晨股份(688099.SH)公告称，2025年实现营业总收入67.93亿元，同比增长14.63%；归 属于母公司所有者的净利润8.71亿元，同比增长6.00%。预计2026年第一季度公司营收将实现10%~20% 的同比增长，2026年全年公司营收将实现25%~45%的同比增长，具体业绩存在一定不确定性。 ...

证券代码：688099 证券简称：晶晨股份 公告编号：2026-006 晶晨半导体（上海）股份有限公司 2025 年度业绩快报公告 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。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审计， 具体数据以晶晨半导体（上海）股份有限公司（以下简称"公司"）2025年年度 报告中披露的数据为准，提请投资者注意投资风险。 一、2025 年全年主要财务数据和指标 单位：人民币 万元 | 项目 | 本报告期 | 上年同期 | 增减变动幅度（％） | | --- | --- | --- | --- | | 营业总收入 | 679,323.36 | 592,631.53 | 14.63 | | 营业利润 | 91,209.13 | 85,230.15 | 7.02 | | 利润总额 | 91,168.18 | 85,181.45 | 7.03 | | 归属于母公司所有者的净利润 | 87,123.89 | 82,192.14 | 6.00 | | 归属于母公司所有者的扣除非 经 ...

2025年是端侧智能技术快速发展年,公司不断推出契合市场需求的芯片产品,当前公司各产品线已有超过 20款芯片搭载自研端侧智能算力单元。2025年,搭载自研端侧智能算力单元的芯片出货量已超2,000万 颗，同比增长近160%。与此同时,公司充分发挥平台型SoC技术优势,联合全球智能领域头部客户和新兴 客户,持续推动芯片在创新硬件形态和应用场景上的突破，2025年已有多款适配最新端侧大模型或新应 用场景的新产品上市。 格隆汇2月11日丨晶晨股份(688099.SH)公布2025年度业绩快报，2025年，公司近年来重点投入的新产品 批量上市，快速打开市场局面，公司多年来在全球化市场的持续耕耘逐步进入收获期，经营业绩稳步增 长，经营质量持续提升。2025年全年，公司实现营业收入67.93亿元，同比增加8.67亿元；归属于母公司 所有者的净利润8.71亿元，同比增加0.49亿元；全年芯片销量超1.74亿颗，同比增加超0.31亿颗。2025年 度营业收入、归属于母公司所有者的净利润以及芯片销量均创历史新高。 在2024年"运营效率提升年"的基础上，2025年公司持续推进运营效率提升行动项，2025年公司综合毛利 率逐季提 ...

格隆汇2月11日丨晶晨股份(688099.SH)公布2025年度业绩快报，2025年，公司近年来重点投入的新产品 批量上市，快速打开市场局面，公司多年来在全球化市场的持续耕耘逐步进入收获期，经营业绩稳步增 长，经营质量持续提升。2025年全年，公司实现营业收入67.93亿元，同比增加8.67亿元；归属于母公司 所有者的净利润8.71亿元，同比增加0.49亿元；全年芯片销量超1.74亿颗，同比增加超0.31亿颗。2025年 度营业收入、归属于母公司所有者的净利润以及芯片销量均创历史新高。 在2024年"运营效率提升年"的基础上，2025年公司持续推进运营效率提升行动项，2025年公司综合毛利 率逐季提升，分别为36.23%、37.29%、37.74%、40.46%，2025年全年综合毛利率37.97%,同比2024年综 合毛利率（36.55%）绝对值提升1.42个百分点。2026年公司还将持续推进运营效率提升，经营质量还将 继续改善。 2025年是端侧智能技术快速发展年,公司不断推出契合市场需求的芯片产品,当前公司各产品线已有超过 20款芯片搭载自研端侧智能算力单元。2025年,搭载自研端侧智能算力单元的芯片出 ...

Core Viewpoint - The A-share market has seen a significant rally in semiconductor stocks, indicating strong investor interest and potential growth in this sector [1] Group 1: Stock Performance - Guoxin Technology has increased by over 13% [1] - Xinyuan Technology has risen by more than 12% [1] - Changguang Huaxin and Huahai Chengke have both gained over 9% [1] - Guoke Microelectronics, Canxin Technology, Taiji Industry, Yuanjie Technology, and Guangliwei have all seen increases of over 7% [1] - Huaya Intelligent, Jiangfeng Electronics, China Shipbuilding Industry, Dike Co., Changdian Technology have all risen by over 6% [1] - Moer Thread, Tianyue Advanced, Zhaoyi Innovation, and Cambrian have all increased by over 5% [1]

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry, indicating an expectation of returns stronger than the market benchmark by over 5% [5]. Core Insights - Strong demand for computing power driven by AI applications is expected to continue, with significant investments from major cloud providers [8]. - The hardware supply-demand imbalance is spreading across various sectors, leading to price increases [8]. - New technologies such as CPO (Co-Packaged Optics) are anticipated to create additional demand [8]. Summary by Sections Investment Recommendations and Targets - Key investment targets include: - Semiconductor manufacturing: SMIC (688981, Buy), Hua Hong Semiconductor (01347, Buy) - Testing and packaging: Changdian Technology (600584, Buy), Tongfu Microelectronics (002156, Buy), and others [9]. - Server storage: Lianqi Technology (688008, Buy) - CPUs: Haiguang Information (688041, Buy), Longxin Technology (688047, Not Rated), and others [9]. - Passive components: Sanhua Group (300408, Buy), Fenghua Advanced Technology (000636, Not Rated) [9]. - Server manufacturing: Industrial Fulian (601138, Buy), Huaqin Technology (603296, Buy) [9]. - Analog and power chips: Naxin Micro (688052, Buy), Sierui Technology (688536, Not Rated), and others [9]. - Semiconductor equipment: Zhongwei Company (688012, Buy), Northern Huachuang (002371, Buy), and others [9]. - Optical devices/chips: Zhishang Technology (301486, Not Rated), Tianfu Communication (300394, Not Rated), and others [9]. AI Applications and Edge Computing - Key targets in edge AI applications include: - AI main control chips: Amlogic (688099, Buy), Hengxuan Technology (688608, Buy) - Edge storage: Zhaoyi Innovation (603986, Buy), Bawei Storage (688525, Buy) [10]. - Terminal manufacturers: Hikvision (002415, Buy), Luxshare Precision (002475, Buy), BYD Electronics (00285, Not Rated), and others [10]. - Core components for AI edge: Huanxu Electronics (601231, Buy), Sunny Optical Technology (02382, Buy), and others [10].

Core Insights - The article discusses the transformation of the technology industry driven by the integration of AI into various end-user devices, highlighting the critical role of domestic System-on-Chip (SoC) manufacturers in this shift [1][2]. Group 1: AI Migration to Edge Devices - The migration of AI capabilities from cloud to edge devices is driven by technological maturity, demand pressures, and cost optimization [2][3]. - Technological advancements, particularly in specialized Neural Processing Units (NPU), have enabled significant improvements in edge device performance, overcoming previous limitations related to power consumption and size [2][3]. - Consumer demand for personalized and real-time AI experiences, along with stringent requirements in industrial applications, has accelerated the adoption of edge AI solutions [2][3]. Group 2: Cost Optimization and Market Growth - The reduction in production costs due to semiconductor industry maturation has made edge AI more economically viable, fostering a positive cycle of cost reduction and widespread adoption [3]. - The year 2023 marks the beginning of edge AI technology deployment, with significant growth expected in 2024 and a projected explosion in market size by 2025, which is anticipated to be recognized as the "Year of Edge AI" [3][4]. Group 3: Performance of Domestic SoC Companies - Six domestic SoC companies, referred to as the "Six Little Dragons," have shown robust performance in the first three quarters of 2025, with most achieving revenue and net profit growth [4][5]. - Notable companies include: - **Rockchip**: Projected revenue of 43.87 to 44.27 billion yuan for 2025, with a net profit increase of 71.97% to 85.42% [6]. - **Allwinner Technology**: Expected net profit growth of 50.53% to 76.92% for 2025 [6]. - **Zhongke Blue Communication**: Anticipated revenue growth of 0.60% to 1.70% for 2025 [6]. Group 4: Company-Specific Insights - **Rockchip**: Positioned as a leader in edge AI with a comprehensive AI development ecosystem, serving major clients like SONY and Xiaomi [7]. - **Amlogic**: Dominates the smart home terminal market, with significant revenue from multimedia SoC chips and a strong client base including Xiaomi and Haier [8][9]. - **Espressif Systems**: Focuses on smart home applications, utilizing an open-source model to lower AI development barriers for clients [10][11]. - **Allwinner Technology**: Specializes in visual AI applications, leveraging its expertise in multimedia chips for various consumer and industrial applications [12]. - **Hengxuan Technology**: A leader in audio AI, providing low-power wireless SoC chips for a range of smart devices [13]. - **Zhongke Blue Communication**: Competes in the audio AI SoC market with a focus on cost control and high value [14]. Group 5: Future Trends in Edge AI - AI glasses are identified as a key application area for edge AI, with the potential for significant market growth as technology matures [15][16]. - Various SoC solutions for AI glasses are emerging, including high-performance systems and cost-effective MCU-based designs, indicating a competitive landscape among domestic manufacturers [16][17].

Core Viewpoint - On February 2, 2025, Amlogic Co., Ltd. experienced a 4.33% decline in stock price with a trading volume of 989 million yuan, indicating market volatility and investor sentiment [1] Financing and Margin Trading - On the same day, Amlogic had a financing purchase amount of 124 million yuan and a repayment of 99.15 million yuan, resulting in a net financing purchase of 24.92 million yuan [1] - As of February 2, the total margin trading balance for Amlogic was 1.143 billion yuan, with the financing balance of 1.136 billion yuan accounting for 3.22% of the circulating market value, which is above the 90th percentile of the past year [1] - In terms of securities lending, Amlogic had a repayment of 1,200 shares and a sell amount of 1,484 shares, with a selling amount of 124,400 yuan calculated at the closing price [1] Company Overview - Amlogic Co., Ltd. was established on July 11, 2003, and listed on August 8, 2019, focusing on the research, design, and sales of system-level SoC chips and peripheral chips [1] - The company's main business revenue composition is 99.98% from product sales and 0.02% from leasing services [1] Financial Performance - As of September 30, 2025, Amlogic reported a total revenue of 5.071 billion yuan, representing a year-on-year growth of 9.29%, and a net profit attributable to shareholders of 698 million yuan, reflecting a year-on-year increase of 17.51% [2] - Since its A-share listing, Amlogic has distributed a total of 257 million yuan in dividends, with 208 million yuan distributed over the past three years [2] Shareholder Structure - As of September 30, 2025, Amlogic had 21,900 shareholders, a decrease of 1.08% from the previous period, with an average of 19,200 circulating shares per shareholder, an increase of 1.09% [2] - The top ten circulating shareholders include notable funds such as Xingquan Helun Mixed A and E Fund Shanghai Stock Exchange Science and Technology Innovation Board 50 ETF, with significant reductions in their holdings [3]

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）。 证券代码：688099 证券简称：晶晨股份 公告编号：2026-005 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 ...

Core Viewpoint - The company, Amlogic Co., Ltd. (晶晨股份), has announced a share buyback program, indicating a commitment to returning value to shareholders through repurchasing its own shares [1] Summary by Categories Share Buyback Details - As of January 31, 2026, the company has repurchased a total of 1.0735 million shares, which represents 0.2549% of its total share capital [1] - The highest price paid for the repurchased shares was 96.00 CNY per share, while the lowest price was 65.82 CNY per share [1] - The total amount spent on the share buyback is approximately 79.9357 million CNY, excluding commissions and transfer fees [1]