证券代码：688099 证券简称：晶晨股份 公告编号：2025-035 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 | 年 2025 4 9 | 4 | 月 | 10 | 日~2026 | 年 | 月 | 日 | | 预计回购金额 | 5,000万元~10,000万元 | | | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | | | | | | | | 累计已回购股数 | 15.3万股 | | | | | | | | | 累计已回购股数占总股本比例 | 0.036% | | | | | | | | | 累计已回购金额 | 1,067.16万元 ...

Investment Rating - The report maintains a "Recommended" rating for the company, considering the recovery in downstream demand and the excellent performance of new products [4][6]. Core Insights - The company achieved steady growth in revenue and profit, with a 10.98% year-on-year increase in revenue to 1.53 billion yuan in Q1 2025 and a 47.53% increase in net profit to 188 million yuan [1]. - In 2024, the company reported a total revenue of 5.93 billion yuan, a 10.34% increase year-on-year, and a net profit of 822 million yuan, reflecting a 65.03% growth [1][2]. - The demand for smart home technology is driving revenue and profit growth, with Q1 2025 revenue and net profit maintaining high growth rates, particularly in smart home chip sales, which increased by over 50% year-on-year [2][3]. Summary by Sections Financial Performance - In Q1 2025, the company reported revenue of 1.53 billion yuan, up 10.98% year-on-year and 18.93% quarter-on-quarter, with a net profit of 188 million yuan, up 47.53% year-on-year but down 17.52% quarter-on-quarter [1]. - For the full year 2024, the company achieved revenue of 5.93 billion yuan, a 10.34% increase, and a net profit of 822 million yuan, a 65.03% increase [1][5]. Market Expansion and Product Development - The company has invested over 10 billion yuan in R&D for three consecutive years, totaling 3.82 billion yuan, leading to successful market performance of several strategic new products [3]. - The S series chips have gained significant market share in domestic and international markets, while the T series saw a year-on-year sales increase of over 30% [3]. Future Outlook - The company expects continued growth in Q2 2025 and throughout 2025, driven by the launch of new products and improved operational efficiency [2][4]. - Profit forecasts for 2025-2027 are adjusted to 1.05 billion yuan, 1.43 billion yuan, and 1.77 billion yuan, respectively, with corresponding PE ratios of 27, 20, and 16 [4][5].

Investment Rating - The report maintains a "Recommended" rating for the company, considering the recovery in downstream demand and the excellent performance of new products [4][6]. Core Insights - The company achieved steady growth in revenue and profit, with Q1 2025 revenue reaching 1.53 billion yuan, a year-on-year increase of 10.98%, and a net profit of 188 million yuan, up 47.53% year-on-year [1][2]. - The company has been actively expanding its market presence and improving operational efficiency, leading to record-high revenue and net profit in 2024 [2][3]. - The company has invested over 10 billion yuan in R&D for three consecutive years, totaling 3.82 billion yuan, resulting in strong market performance for several strategic new products [3]. Revenue and Profit Forecast - The forecast for the company's net profit for 2025-2027 is 1.05 billion, 1.43 billion, and 1.77 billion yuan, respectively, with corresponding PE ratios of 27, 20, and 16 [4][5]. - The company expects continued growth in revenue, with projected figures of 7.60 billion, 9.38 billion, and 10.84 billion yuan for 2025-2027, reflecting growth rates of 28.3%, 23.3%, and 15.6% [5][10]. Product Performance and Market Expansion - The company has seen significant sales growth in its smart home chip segment, with Q1 2025 sales increasing by over 50% year-on-year, and a shipment of nearly 4 million self-developed edge computing chips [2][3]. - Various product lines have made progress, with the S series capturing the largest share in domestic tenders and expanding globally, while the T series saw a year-on-year sales increase of over 30% [3].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 88.90 RMB [7][4]. Core Views - The company achieved a revenue of 1.53 billion RMB in Q1 2025, representing a year-over-year increase of 10.98% and a quarter-over-quarter increase of 18.93%. The net profit attributable to the parent company was 188 million RMB, up 47.53% year-over-year but down 17.52% quarter-over-quarter [1]. - The company expects revenue growth to continue in Q2 2025 and maintains its full-year revenue growth guidance, driven by the launch of new products in the 6nm and 8K segments, as well as the rapid growth of WiFi 6 [1][3]. Summary by Sections Q1 2025 Review - The company's revenue growth in Q1 2025 was primarily due to the rapid increase in smart home demand and the penetration of edge AI technology, with A series shipments exceeding 10 million units and revenue growth over 50% year-over-year. WiFi chip shipments also saw a year-over-year increase of over 35%, with WiFi 6 2*2 shipments reaching 25% of total shipments [2]. 2025 Outlook - The company has launched a restricted stock incentive plan for 2025, aiming for significant growth in wireless connection and visual system chip shipments, with targets set for 2,392 million units in 2025, reflecting a growth rate of approximately 50% per year. The S series is expected to benefit from a recovering domestic set-top box market, while the T series aims to increase its market share in international TV ecosystems [3]. Financial Projections - The company forecasts net profits attributable to the parent company of 1.07 billion RMB, 1.38 billion RMB, and 1.74 billion RMB for 2025, 2026, and 2027 respectively, with year-over-year growth rates of 29.83%, 29.24%, and 26.46% [6][4]. The expected revenue for 2025 is 7.19 billion RMB, reflecting a year-over-year growth of 21.30% [6]. Valuation Metrics - The report assigns a 35x price-to-earnings (P/E) ratio for 2025, compared to a peer average of 42.5x, leading to a target price of 88.90 RMB, down from a previous target of 99.8 RMB [4][8]. The company's market capitalization is approximately 28.73 billion RMB [8].

● 回购股份金额：回购资金总额不低于人民币 5,000 万元（含），不超过人民币 10,000 万元（含），具体回购资金总额以实际使用的资金总额为准。 ● 回购股份资金来源：本次回购股份的资金来源为晶晨半导体(上海)股份有限公 司（以下简称"公司"）自有资金。 ● 回购股份用途：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。如国家对相关政策作调整，则回 购方案按调整后的政策实行。 ● 回购股份价格：不超过人民币 121.58 元/股（含），该价格不高于公司董事会通 过回购决议前 30 个交易日公司股票交易均价的 150%。 ● 回购股份方式：通过上海证券交易所交易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：公司的董事、监事、高级管理人员、控股股东、 实际控制人及一致行动人、回购股份提议人，在未来 3 个月、未来 6 个月及回购 期间暂无明确减持公司股份的计划，如后续有相关减持股份计划，公司将 ...

证券代码：688099 证券简称：晶晨股份 公告编号：2025-031 晶晨半导体（上海）股份有限公司 关于 2025 年度日常关联交易预计的公告 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。 重要内容提示： 晶晨半导体（上海）股份有限公司（以下简称"公司"）于2025年4月17 日召开的第三届董事会第十六次会议和第三届监事会第十五次会议审议通过了 《关于2025年度日常关联交易预计的议案》，对自2024年年度股东大会至2025年 年度股东大会期间的日常关联交易事项进行了预计，该议案尚需提交公司股东大 会审议。 日常关联交易对上市公司的影响：此次关联交易根据交易双方生产经营 实际需要进行，遵循了平等、自愿、公平、有偿的原则，定价依据和定价方法符 合市场规律，交易价格公允、合理，符合公司整体利益，不存在损害公司及股东， 尤其是中小股东利益的情形，不会对公司的财务状况及经营成果造成重大不利影 响，也不会影响公司的独立性。公司主要业务未因上述关联交易而对关联人形成 依赖。 一、日常关联交易基本情况 （一）日常关联交易履行的审议 ...

证券代码：688099 证券简称：晶晨股份 公告编号：2025-033 关于2024年年度股东大会增加临时提案的公告 本公司董事会及全体董事保证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。 一、 股东大会有关情况 1. 股东大会的类型和届次： 2024年年度股东大会 | 股份类别 | | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | --- | | A | 股 | 688099 | 晶晨股份 | 2025/4/25 | 二、 增加临时提案的情况说明 公司已于2025 年 4 月 11 日公告了股东大会召开通知，单独持有22.04%股份 的股东Amlogic (Hong Kong) Limited，在2025 年 4 月 17 日提出临时提案并书面提 交股东大会召集人。股东大会召集人按照《上海证券交易所科创板上市公司自律 监管指引第 1 号 — 规范运作》有关规定，现予以公告。 3. 临时提案的具体内容 晶晨半导体(上海)股份有限公司 2. 股东大会召开日期：2025 年 5 月 7 日 3. 股东大 ...

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＜2025年第一季度报告＞的议案》 公司监事会对2025年第一季度报告进行了充分审核，经审核，公司监事会认 为： 1、公司2025年第一季度报告的编制和审议程序符合法律、法规、《公司章 程》和公司内部管理制度的各项规定； 2、公司2025年第一季度报告的内容和格式符合上海证券交易所的各项规定， 所包含的信息从各个方面真实地反映了公司2025年第一季度的经营成果和财务 状况等事项； 证券代码：688099 证券简称：晶晨股份 公告编号：2025-030 晶晨半导体（上海）股份有限公司 第三届监事会第十五次会议决议公告 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 五次会议于2025年4月17日以通讯表决的方式召开，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 ...

晶晨半导体（上海）股份有限公司 第三届董事会第十六次会议决议公告 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"）第三届董事会第十六 次会议于2025年4月17日以通讯表决的方式召开，公司以书面方式向全体董事发出 召开本次会议的通知，与会的各位董事已知悉与所议事项相关的必要信息。会议 应到董事5名，实到董事5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： 证券代码：688099 证券简称：晶晨股份 公告编号：2025-029 一、审议通过《关于＜2025 年第一季度报告＞的议案》 公司《2025年第一季度报告》的编制符合《证券法》《上海证券交易所科创 板股票上市规则》及《科创板上市公司自律监管指南第3号——日常信息披露： 第二十八号科创板上市公司季度报告》等法律法规的要求，报告内容真实、准确、 完整。 ...

2025 年限制性股票激励计划激励对象名单 一、激励对象获授限制性股票分配情况 晶晨半导体（上海）股份有限公司 | 姓名 | 国籍 | 职务 | 获授限制性股 | 占获授权益 | 占公司股本 | | --- | --- | --- | --- | --- | --- | | | | | 票数量(股) | 比例 | 总额比例 | | 一、董事、高级管理人员、核心技术人员 | | | | | | | 高静薇 | 中国 | 财务总监 | 21,250 | 0.36% | 0.005% | | 余莉 | 中国 | 董事、董事会秘书 | 27,500 | 0.46% | 0.007% | | 钟富尧 | 中国 | 核心技术人员 | 72,500 | 1.22% | 0.017% | | 潘照荣 | 中国 | 核心技术人员 | 72,500 | 1.22% | 0.017% | | 石铭 | 中国 | 核心技术人员 | 62,500 | 1.05% | 0.015% | | 二、管理骨干、技术骨干、业务骨干 | | | | | | | 管理骨干（60 | | 人） | 415,075 | 6.96% | 0.099% | ...