Core Viewpoint - Dongxin Semiconductor Co., Ltd. reported a significant increase in revenue for the first half of 2025, driven by a recovery in the semiconductor design industry and increased demand in downstream markets such as network communication and consumer electronics [3][11][12]. Company Overview and Financial Indicators - Dongxin Semiconductor specializes in the design of storage chips, providing complete solutions for NAND Flash, NOR Flash, and DRAM [3][8]. - The company reported a revenue of 342.99 million yuan for the first half of 2025, a year-on-year increase of 28.81% [4][11]. - The total loss for the period was 129.05 million yuan, with a net loss attributable to shareholders of 110.97 million yuan [4][12]. - The company’s cash flow from operating activities improved to -56.39 million yuan, compared to -173.05 million yuan in the previous year [4][11]. Business and Product Development - The company focuses on high-reliability storage products and aims to become a leading storage chip design enterprise in China [3][8]. - Key products include NAND Flash, NOR Flash, and DRAM, with applications in various sectors such as network communication, surveillance, consumer electronics, and automotive electronics [3][8][13]. - The company has made significant advancements in its NAND Flash technology, particularly in SLC NAND Flash, which has been recognized by major platform manufacturers [6][13]. Market Trends and Industry Outlook - The global storage chip market is expected to grow significantly, with sales projected to increase from 96 billion USD in 2023 to over 234 billion USD by 2025, driven by demand from AI and other emerging technologies [9][10]. - The domestic market for storage chips is experiencing a wave of localization, with increasing government support for local semiconductor companies [10][11]. - The automotive storage chip market is also expanding, with expectations of growth from 4.76 billion USD in 2023 to 10.25 billion USD by 2028 [9][10]. Research and Development - The company invested 1.05 billion yuan in R&D during the reporting period, accounting for 30.74% of its revenue, to enhance its technology and product offerings [13][15]. - Ongoing projects include the development of new DRAM products and the expansion of its MCP product line, which integrates NAND Flash and DRAM for various applications [14][15]. Strategic Initiatives - Dongxin Semiconductor is pursuing a "storage, computing, and connectivity" integrated development strategy to build a diversified technology ecosystem [15][16]. - The company is also focusing on developing Wi-Fi 7 communication chips and high-performance GPU chips to meet market demands [16][17].

东芯半导体股份有限公司2025 年半年度报告摘要 公司代码：688110 公司简称：东芯股份 东芯半导体股份有限公司 东芯半导体股份有限公司2025 年半年度报告摘要 第一节 重要提示 规划，投资者应当到上海证券交易所网站（www.sse.com.cn）网站仔细阅读半年度报告全文。 公司已在本报告中描述可能存在的风险，敬请查阅"第三节 管理层讨论与分析"之"四、风险因素" 部分，请投资者注意投资风险。 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 无 □适用 √不适用 第二节 公司基本情况 公司股票简况 公司股票简况 股票种类 股票上市交易所 股票简称 股票代码 变更前股票简称 A股 上海证券交易所科创板 东芯股份 688110 不适用 公司存托凭证简况 □适用 √不适用 联系人和联系方式 联系人和联系方式 董事会秘书 证券事务代表 （信息披露境内代表） 姓名 蒋雨舟 黄沈幪 电话 021-61369022 021-61369022 办公地址 上海市青浦区徐泾镇诸光路1588弄 上海市青浦区徐泾镇诸光路1588 东芯半导体股份有限公司2025 年半年度报告摘要 虹桥世界中心L4A-F5 弄虹桥 ...

[Definitions](index=4&type=section&id=Section%20I%20Definitions) This section provides definitions of key terms and company-related entities used in the report, covering semiconductor industry jargon, names of company subsidiaries and affiliates, ensuring accuracy in report interpretation [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter provides definitions of key terms and company-related entities used in the report, covering semiconductor industry jargon, names of company subsidiaries and affiliates, ensuring accuracy in report interpretation - Company, the Company, Issuer, Dosilicon: refers to Dosilicon Semiconductor Co., Ltd[10](index=10&type=chunk) - Dosilicon Nanjing: refers to Dosilicon Semiconductor (Nanjing) Co., Ltd., a wholly-owned subsidiary of Dosilicon[10](index=10&type=chunk) - NAND Flash: A non-volatile semiconductor memory chip with read, erase, and write capabilities, widely used in handheld mobile terminals, consumer electronics, and other fields[11](index=11&type=chunk) - Fabless: An operating model focused solely on design without manufacturing operations, responsible for chip circuit design and sales, outsourcing production, testing, and packaging[10](index=10&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of Dosilicon Semiconductor Co., Ltd., including basic information, contact details, information disclosure, stock summary, and key financial data and indicators [I. Basic Company Information](index=6&type=section&id=I.%20Basic%20Company%20Information) This section introduces the basic information of Dosilicon Semiconductor Co., Ltd., including its Chinese name, English name, legal representative, registered address, office address, website, and email, along with historical changes to the registered address - Company Chinese Name: Dosilicon Semiconductor Co., Ltd[14](index=14&type=chunk) - Legal Representative: Jiang Xueming[14](index=14&type=chunk) - Company Registered Address: Room 1336, Block B, 13th Floor, Building 3, No. 2875 Huqingping Highway, Zhaoxiang Town, Qingpu District, Shanghai[14](index=14&type=chunk) [II. Contact Persons and Information](index=6&type=section&id=II.%20Contact%20Persons%20and%20Information) This section discloses the names, contact addresses, telephone numbers, fax numbers, and email addresses of the Company's Board Secretary and Securities Affairs Representative, facilitating communication for investors and relevant parties - Board Secretary: Jiang Yuzhou[15](index=15&type=chunk) - Securities Affairs Representative: Huang Shenmeng[15](index=15&type=chunk) - Contact Number: 021-61369022[15](index=15&type=chunk) [III. Information Disclosure and Location Change Summary](index=6&type=section&id=III.%20Information%20Disclosure%20and%20Location%20Change%20Summary) This section lists the Company's designated newspapers for information disclosure, the website address for publishing semi-annual reports, and the location where the Company's semi-annual reports are kept - Company's Selected Information Disclosure Newspapers: Shanghai Securities News, China Securities Journal[16](index=16&type=chunk) - Website Address for Semi-Annual Report Publication: Shanghai Stock Exchange website (www.sse.com.cn)[16](index=16&type=chunk) [IV. Company Stock/Depositary Receipt Summary](index=7&type=section&id=IV.%20Company%20Stock%2FDepositary%20Receipt%20Summary) This section introduces the Company's A-share stock listing exchange, board, ticker symbol, and code, confirming no depositary receipt summary - Stock Type: A-shares[18](index=18&type=chunk) - Stock Listing Exchange and Board: Shanghai Stock Exchange STAR Market[18](index=18&type=chunk) - Stock Code: 688110[18](index=18&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=7&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section discloses the Company's key accounting data and financial indicators for the current reporting period and the same period last year, explaining changes in operating revenue, total profit, net profit, and net cash flow from operating activities. The Company's operating revenue increased by 28.81% year-on-year, but it still faces profitability pressure due to high R&D investment, increased administrative and sales expenses, higher financial expenses, and investment losses Key Accounting Data (January-June) | Indicator | Current Period (RMB) | Prior Period (Adjusted) (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 342,991,662.20 | 266,283,618.11 | 28.81 | | Total Profit | -129,051,283.47 | -93,274,194.12 | Not applicable | | Net Profit Attributable to Shareholders of Listed Company | -110,968,499.83 | -91,121,081.89 | Not applicable | | Net Cash Flow from Operating Activities | -56,392,480.18 | -173,050,008.84 | Not applicable | Key Financial Indicators (January-June) | Indicator | Current Period | Prior Period (Adjusted) | YoY Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | -0.26 | -0.21 | Not applicable | | Weighted Average Return on Net Assets (%) | -3.52 | -2.66 | Decrease 0.86 percentage points | | R&D Investment as % of Operating Revenue (%) | 30.74 | 39.72 | Decrease 8.98 percentage points | - Operating revenue increased by **28.81%** year-on-year, primarily benefiting from the recovery in the semiconductor design industry, increased demand in downstream markets such as network communication and consumer electronics, and the Company's proactive market expansion efforts, effectively boosting product sales[22](index=22&type=chunk) - Total profit and net profit losses increased, mainly due to sustained high R&D investment (especially in the Wi-Fi sector), rising administrative and sales expenses, a significant increase in financial expenses (due to lower interest income and increased exchange losses), and an investment loss of **52.3111 million RMB** in Shanghai Lisuo[23](index=23&type=chunk) - Net cash flow from operating activities was **-56.3925 million RMB**, an increase of **116.6575 million RMB** compared to **-173.0500 million RMB** in the same period last year, primarily due to increased sales collections[23](index=23&type=chunk) [VIII. Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=VIII.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the non-recurring gains and losses items and their amounts for the current reporting period, totaling **15,755,492.91 RMB**, primarily including government grants and fair value changes in financial assets - Government grants recognized in current profit or loss: **6,182,603.62 RMB**[25](index=25&type=chunk) - Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises, excluding effective hedge accounting related to normal business operations: **12,193,053.58 RMB**[25](index=25&type=chunk) - Total non-recurring gains and losses: **15,755,492.91 RMB**[26](index=26&type=chunk) [IX. Companies with Equity Incentive or Employee Stock Ownership Plans May Choose to Disclose Net Profit After Deducting Share-Based Payment Impact](index=9&type=section&id=IX.%20Companies%20with%20Equity%20Incentive%20or%20Employee%20Stock%20Ownership%20Plans%20May%20Choose%20to%20Disclose%20Net%20Profit%20After%20Deducting%20Share-Based%20Payment%20Impact) This section discloses that net profit after deducting the impact of share-based payments was **-119.8276 million RMB**, representing an increased loss year-on-year - Net profit after deducting the impact of share-based payments: **-119,827,645.70 RMB**[28](index=28&type=chunk) [Management Discussion and Analysis](index=10&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section discusses the company's industry, main business, operating performance, core competitiveness, and risk factors, highlighting revenue growth, R&D investment, and strategic initiatives [I. Explanation of the Company's Industry and Main Business Operations During the Reporting Period](index=10&type=section&id=I.%20Explanation%20of%20the%20Company%27s%20Industry%20and%20Main%20Business%20Operations%20During%20the%20Reporting%20Period) This section details the Company's main business, primary products and services (NAND Flash, NOR Flash, DRAM, MCP, and technical services), operating model (Fabless), and the development, market opportunities, and challenges of the semiconductor memory chip industry, including emerging demands from AI, automotive electronics, IoT, and the trend of domestic substitution - The Company's main business focuses on niche memory chip design, being one of the few companies in mainland China capable of simultaneously providing complete solutions for NAND Flash, NOR Flash, and DRAM memory chips[31](index=31&type=chunk) - The Company adopts a **Fabless** operating model, focusing on integrated circuit design, sales, and customer service, while outsourcing wafer manufacturing, packaging, and testing[43](index=43&type=chunk) - The memory market entered a clear upward cycle starting in **2024**, with further recovery in **2025**, and prices for mainstream memory chips like DRAM and NAND Flash stabilizing and steadily rising[45](index=45&type=chunk) - The widespread application of AI technology is reshaping the industry landscape, with surging computing power demand driving high-performance storage solutions, promoting the iteration of advanced storage technologies like HBM and 3D NAND, and gradually increasing demand for niche memory chips[47](index=47&type=chunk) - Driven by national information security and supply chain self-sufficiency strategies, the wave of domestic substitution for memory chips is surging, presenting significant opportunities for localization[47](index=47&type=chunk) - Overseas memory giants are focusing on large-capacity 3D NAND Flash, HBM, and DDR5, successively announcing new rounds of production cuts or control plans, gradually reducing investment and continuously cutting production in SLC NAND Flash, niche DRAM, and DDR4, which presents favorable development opportunities for the Company[48](index=48&type=chunk) [(1) Main Business, Products, or Services](index=10&type=section&id=(一)%20主要业务、主要产品或服务情况) The Company primarily designs niche memory chips, offering products such as NAND Flash, NOR Flash, DRAM, and MCP, widely used in network communication, security monitoring, consumer electronics, industrial and medical, and automotive electronics, while also providing customized design services. The Company has achieved technological breakthroughs in 1xnm NAND Flash and 48nm NOR Flash process technologies - The Company's main products are non-volatile memory chips NAND Flash and NOR Flash, volatile memory chip DRAM, and derivative product MCP[32](index=32&type=chunk) - NAND Flash products are diverse, low-power, and highly reliable, widely applied in communication equipment, security monitoring, wearable devices, and mobile terminals, with product reliability gradually advancing from industrial-grade to automotive-grade standards[32](index=32&type=chunk)[33](index=33&type=chunk)[35](index=35&type=chunk) - NOR Flash focuses on designing large-capacity, low-power, ETOX process SPI NOR Flash, with storage capacities ranging from **64Mb to 2Gb**, widely used in network communication, wearable devices, and mobile terminals[36](index=36&type=chunk) - DRAM's developed DDR3(L) series and LPDDR1/2/4X series products feature high bandwidth, low latency, low power consumption, and high transmission speeds, suitable for communication equipment, mobile terminals, smart terminals, and wearable devices[37](index=37&type=chunk) - MCP products integrate self-developed low-power **1.8V** SLC NAND Flash memory chips with low-power DRAM designs, certified on platforms such as Unisoc, Qualcomm, and MediaTek, and widely used in feature phones, MIFI, and communication modules[38](index=38&type=chunk) - The Company possesses independent and complete intellectual property rights, capable of customizing memory chip design services and overall solutions according to customer needs, helping clients reduce product development time and costs[42](index=42&type=chunk) [(2) Main Operating Model](index=12&type=section&id=(二)%20主要经营模式) The Company adopts a **Fabless** operating model, focusing on integrated circuit design, sales, and customer service, outsourcing wafer manufacturing, packaging, and testing. Product sales utilize a combination of distribution and direct sales models - As an IC design company, the Company adopts a **Fabless** operating model, focusing on integrated circuit design, sales, and customer service, outsourcing wafer manufacturing, packaging, and testing[43](index=43&type=chunk) - The Company's product sales adopt a "distribution and direct sales combined" model, with outright sales under the distribution model[43](index=43&type=chunk) [(3) Industry Overview](index=12&type=section&id=(三)%20所处行业情况) The Company operates in the integrated circuit design industry, specifically the chip design sub-sector. The global memory chip market is projected to exceed **$234 billion** in sales by **2025**, with a **16%** CAGR. Emerging applications like AI, automotive electronics, and IoT drive demand growth, while national policies promote domestic substitution, creating development opportunities for the Company - The Company operates in the "Integrated Circuit Design" (Code: 6520) sub-sector of the "Software and Information Technology Services Industry," specifically the chip design industry[45](index=45&type=chunk) - Yole Group projects global memory chip market sales to grow from **$96 billion** in **2023** to over **$234 billion** by **2025**, with a compound annual growth rate (CAGR) of **16%** between **2023** and **2029**[45](index=45&type=chunk) - The global automotive memory chip market size was **$4.76 billion** in **2023**, projected to reach **$10.25 billion** by **2028**, indicating continuous market demand expansion[47](index=47&type=chunk) - According to Zhongyan Puhua data, China's edge AI market size is expected to exceed **250 billion RMB** by **2025** and reach **1.2 trillion RMB** by **2030**, with a compound annual growth rate (CAGR) of **30.8%**[47](index=47&type=chunk) - Driven by national information security and supply chain self-sufficiency strategies, the wave of domestic substitution for memory chips is surging, presenting significant opportunities for localization[47](index=47&type=chunk) [II. Discussion and Analysis of Operations](index=13&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) In the first half of **2025**, the Company's operating revenue was **343 million RMB**, a year-on-year increase of **28.81%**, with a gross profit margin of **18.76%**, up **5.45** percentage points year-on-year. The Company continues to deepen its expertise in storage technology, advance its "storage, computing, and connectivity" integrated strategy, build a "local depth, global breadth" supply chain, and prioritize talent development and compliant operations. Despite revenue growth, net profit remains negative due to high R&D investment and investment losses Key Operating Performance in H1 2025 | Indicator | Amount/Ratio | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 343 million RMB | Up 28.81% | | Gross Profit Margin | 18.76% | Up 5.45 percentage points | | Net Profit Attributable to Parent Company Shareholders | -110.9685 million RMB | Loss | | Net Profit After Non-Recurring Gains and Losses | -126.7240 million RMB | Loss | - The Company's R&D expenses were **105 million RMB**, accounting for **30.74%** of current operating revenue, flat year-on-year, continuously strengthening its technological leadership in the SLC NAND Flash industry and actively promoting the upgrade and iteration of storage products[50](index=50&type=chunk) - The "1xnm Flash Product R&D and Industrialization Project" has achieved mass production, with continuous optimization of design and process, significantly improved product reliability indicators, and successful product sales[50](index=50&type=chunk) - The Company continues to advance its "storage, computing, and connectivity" integrated strategic layout, promoting Wi-Fi 7 wireless communication chip R&D in the connectivity chip sector, and strategically investing in Shanghai Lisuo to enter the high-performance GPU market. Shanghai Lisuo's first self-developed GPU chip "7G100" has completed tape-out, wafer manufacturing, and chip packaging, with test results meeting expectations, and is proceeding with customer sampling and mass production as planned[52](index=52&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk) - The Company highly values establishing a stable and reliable supply chain system, having built mutually beneficial and trusting cooperative relationships with multiple renowned domestic and international wafer foundries and packaging and testing factories, forming a "local depth, global breadth" supply chain network[54](index=54&type=chunk) - The Company continuously improves its incentive and restraint mechanisms, optimizes its compensation system, refines performance appraisal systems, and has implemented equity incentive plans for three consecutive years to attract and retain outstanding talent[55](index=55&type=chunk) [III. Analysis of Core Competitiveness During the Reporting Period](index=15&type=section&id=III.%20Analysis%20of%20Core%20Competitiveness%20During%20the%20Reporting%20Period) The Company's core competitiveness lies in technological innovation, supply chain assurance, quality service, talent team, and high-level R&D investment. The Company continuously iterates technology in memory chip design, builds a stable supply chain, enhances customer trust, attracts and retains talent through equity incentives, and maintains independent control over core technologies - The Company takes technological innovation as its core driving force, continuously improving its R&D system, iterating and upgrading products in NAND Flash, NOR Flash, DRAM, and MCP fields, with SLC NAND Flash, NOR Flash, and MCP products passing AEC-Q100 verification and achieving mass production for automotive-grade applications[59](index=59&type=chunk) - The Company adheres to the principle of "local depth, global breadth" in its supply chain layout, establishing mutually beneficial and trusting cooperative relationships with domestic and international suppliers to ensure efficient supply chain operation and product quality, and actively expanding dual foundry models both domestically and internationally[60](index=60&type=chunk) - The Company adheres to the quality policy of "Quality," "Competitiveness," "Customer Satisfaction," and "Continuous Improvement," continuously optimizing service processes and operating systems, establishing a strict automotive-grade quality management system, and continuously enhancing global customer trust[61](index=61&type=chunk) - As of the end of the reporting period, the Company had **206** R&D and technical personnel, accounting for **63.19%** of the total workforce, with approximately **98.54%** of R&D personnel holding bachelor's degrees or higher, effectively motivating the core team through equity incentive plans[62](index=62&type=chunk) - The Company maintains a high level of R&D investment, with R&D expenses of **105 million RMB** during the reporting period, accounting for **30.74%** of current operating revenue, and possesses **121** valid patents (domestic and international), **15** software copyrights, **86** integrated circuit layout designs, and **14** registered trademarks, adhering to independent control over core technologies[63](index=63&type=chunk) [(3) Core Technologies and R&D Progress](index=17&type=section&id=(三)%20核心技术与研发进展) The Company's core technologies are all independently developed, covering key aspects of NAND Flash, NOR Flash, and DRAM memory chip design, with no significant changes in core technologies during the reporting period. The Company continues to obtain invention patent authorizations, maintains high R&D investment, has multiple ongoing projects progressing smoothly, and a stable R&D team size and educational structure - The Company's core technologies are all independently developed, possessing independent R&D capabilities and core technologies in key aspects of NAND Flash, NOR Flash, and DRAM memory chip design, with no significant changes in core technologies during the reporting period[65](index=65&type=chunk) - During the reporting period, the Company obtained **8** authorized invention patents (including **2** Chinese invention patents, **3** US invention patents, and **3** Korean invention patents); applied for **5** integrated circuit layout designs; and applied for **8** registered trademarks[67](index=67&type=chunk) - As of the end of the reporting period, the Company possessed **121** valid patents (domestic and international), **15** software copyrights, **86** integrated circuit layout designs, and **14** registered trademarks[67](index=67&type=chunk) R&D Investment Overview | Indicator | Current Period (RMB) | Prior Period (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 105,437,103.94 | 105,765,542.10 | -0.31 | | Total R&D Investment as % of Operating Revenue (%) | 30.74 | 39.72 | Decrease 8.98 percentage points | - R&D projects include 1xnm NAND Flash, 2xnm NAND Flash, 28nm NAND Flash, 48nm NOR Flash, 55nm NOR Flash, DDR3, LPDDR4x, and other DRAM products, with some products already in or nearing mass production; Wi-Fi 7 products are in the R&D stage[73](index=73&type=chunk) R&D Personnel Information | Indicator | Current Period | | :--- | :--- | | Number of Company R&D Personnel (persons) | 206 | | R&D Personnel as % of Total Company Staff (%) | 63.19 | | Total R&D Personnel Compensation (10,000 RMB) | 7,441.16 | | Average R&D Personnel Compensation (10,000 RMB) | 36.12 | | Doctoral Degree Holders (%) | 1.46 | | Master's Degree Holders (%) | 39.81 | | Bachelor's Degree Holders (%) | 57.28 | [IV. Risk Factors](index=20&type=section&id=IV.%20Risk%20Factors) The Company faces multiple risks including performance decline or loss, core competitiveness (technology upgrades, R&D failure, talent loss, core technology leakage), operations (outsourcing and supplier concentration, overseas operations), financial (performance volatility, inventory impairment), and macroeconomic environment (industry cyclicality, international trade environment uncertainty) - The Company continues to maintain high R&D investment, promoting memory chip process upgrades and reliability improvements, and focusing on storage, expanding into "storage, computing, and connectivity" integration. The Wi-Fi sector still requires sustained R&D investment, and the Company's invested GPU sector has not yet generated revenue, further pressuring the Company's profitability and posing a risk of performance decline or continued losses[76](index=76&type=chunk) - The integrated circuit design industry, where the Company operates, is characterized by technology intensiveness and rapid product iteration. If the Company fails to accurately grasp technological trends or its product iteration speed lags behind industry developments and customer demand changes, it may weaken market competitiveness and negatively impact operating performance[76](index=76&type=chunk) - The integrated circuit design industry has high technical barriers, significant R&D investment, and long product development cycles, posing risks of R&D failure or industrialization failure[77](index=77&type=chunk) - The Company adopts a **Fabless** operating model, and the wafer foundry and packaging and testing markets are highly concentrated, leading to risks of high outsourcing and supplier concentration, which may result in supply shortages, limited production capacity, or increased procurement costs[78](index=78&type=chunk) - The book value of the Company's inventory is **952.8372 million RMB**, accounting for **27.40%** of total assets, a relatively high proportion. As of the end of the reporting period, the inventory impairment provision balance was **174.8332 million RMB**, indicating inventory impairment risk[79](index=79&type=chunk)[80](index=80&type=chunk) - The integrated circuit industry, especially the memory chip industry, exhibits certain cyclicality, and is influenced by global macroeconomic fluctuations and industry prosperity, which may have an impact on the Company's operating performance[80](index=80&type=chunk) - In recent years, the uncertainty in the international trade environment has increased, and Sino-US trade frictions have intensified, which may adversely affect the integrated circuit industry chain where the Company operates, leading to increased transaction costs for upstream and downstream segments of the industry chain[82](index=82&type=chunk) [V. Main Operating Performance During the Reporting Period](index=22&type=section&id=V.%20Main%20Operating%20Performance%20During%20the%20Reporting%20Period) During the reporting period, the Company's operating revenue was **343 million RMB**, a year-on-year increase of **28.81%**, but net profit attributable to parent company shareholders and net profit after non-recurring gains and losses remained negative. This section provides a detailed analysis of changes in financial statement items, asset and liability status, external equity investments, and the performance of major controlled and investee companies - During the reporting period, the Company achieved operating revenue of **342.9917 million RMB**, a year-on-year increase of **28.81%**; net profit attributable to shareholders of the listed company was **-110.9685 million RMB**, with the loss increasing by **19.8474 million RMB** year-on-year[83](index=83&type=chunk) Analysis of Changes in Financial Statement Items | Item | Current Period (RMB) | Prior Period (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 342,991,662.20 | 266,283,618.11 | 28.81 | | Operating Cost | 278,631,498.15 | 230,848,097.09 | 20.70 | | Administrative Expenses | 42,317,090.50 | 34,824,752.62 | 21.51 | | Financial Expenses | 7,684,279.56 | -21,640,013.74 | Not applicable | | Net Cash Flow from Operating Activities | -56,392,480.18 | -173,050,008.84 | Not applicable | | Net Cash Flow from Investing Activities | -104,166,619.26 | -40,834,095.19 | Not applicable | | Net Cash Flow from Financing Activities | 10,494,717.19 | -23,391,416.49 | Not applicable | - The significant increase in financial expenses was mainly due to decreased interest income from lower bank deposit rates and increased exchange losses[85](index=85&type=chunk) - The ending balance of financial assets held for trading was **743,087,000.01 RMB**, an increase of **197.03%** from the end of the previous year, primarily due to increased purchases of bank structured deposit products[89](index=89&type=chunk) - The ending balance of other receivables was **2,095,647.03 RMB**, a decrease of **91.21%** from the end of the previous year, primarily due to the recovery of capacity deposits[89](index=89&type=chunk) - Overseas assets amounted to **484,157,704.89 RMB**, accounting for **13.92%** of total assets[90](index=90&type=chunk) - The Company used **72.50 million RMB** of its own funds to increase capital in Yixintonggan Shanghai, subscribing to its newly added registered capital of **72.50 million RMB**. As of the end of the reporting period, the Company's cumulative paid-in capital was **101.50 million RMB**, used for the R&D and design of Wi-Fi 7 wireless communication chips[92](index=92&type=chunk) Operating Performance of Major Controlled and Investee Companies | Company Name | Operating Revenue (10,000 RMB) | Net Profit (10,000 RMB) | | :--- | :--- | :--- | | Fidelix Co.,Ltd. | 11,088.24 | -1,886.69 | | Nemostech Inc. | 877.55 | -31.96 | | Dosilicon Hong Kong | 18,553.15 | 245.39 | | Dosilicon Nanjing | 717.69 | 48.27 | | Yixintonggan Shanghai | 273.58 | -1,586.79 | | Yixintonggan Guangzhou | 0.00 | -1,289.58 | | Lisuo Technology (Shanghai) Co., Ltd. | 0.00 | -13,810.14 | [Corporate Governance, Environment, and Society](index=28&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section covers changes in the company's directors, senior management, and core technical personnel, profit distribution plans, equity incentive plans, environmental information disclosure, and rural revitalization efforts [I. Changes in Company Directors, Senior Management, and Core Technical Personnel](index=28&type=section&id=I.%20Changes%20in%20Company%20Directors%2C%20Senior%20Management%2C%20and%20Core%20Technical%20Personnel) During the reporting period, there were multiple changes in the Company's directors, senior management, and core technical personnel, including the appointment of Sun Xin as CFO, the election of Zhang Jun and Zhu Jiping as independent directors, and the departure of former independent directors and supervisory board members. The Company has abolished the supervisory board, with its functions now exercised by the Board's Audit Committee - The Company appointed Ms. Sun Xin as its Chief Financial Officer, with a term of office from the date of approval by the Company's Board of Directors until the expiration of the term of the Company's second Board of Directors[100](index=100&type=chunk) - The Company elected Mr. Zhang Jun and Mr. Zhu Jiping as independent directors for the Company's third Board of Directors; former independent directors of the second Board of Directors, Mr. Joseph Zhifeng Xie and Mr. Huang Zhiwei, retired after completing their six-year terms[101](index=101&type=chunk)[102](index=102&type=chunk) - The Company will no longer have a Supervisory Board, with its functions to be exercised by the Board's Audit Committee; former supervisors of the second Supervisory Board, Mr. Wang Qinqiang, Mr. Shan Huixing, and Ms. Ye Huihua, retired upon the expiration of their terms on the same day[101](index=101&type=chunk)[102](index=102&type=chunk) - The identification of the Company's core technical personnel is primarily based on a comprehensive assessment of their years of service, scientific and technological achievements, participation in or leadership of core technology development, and contributions to the Company's operations[104](index=104&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=29&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) For this semi-annual period, the Company has no profit distribution plan or capital reserve to share capital increase plan - Proposed profit distribution plan and capital reserve to share capital increase plan for this semi-annual period: No[105](index=105&type=chunk) [III. Status and Impact of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=29&type=section&id=III.%20Status%20and%20Impact%20of%20Company%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) During the reporting period, the Company cancelled some restricted shares and completed the share registration procedures for the first grant vesting periods of the **2023** and **2024** restricted stock incentive plans, aiming to establish a sound long-term incentive mechanism - The Company collectively cancelled **400,860** restricted shares from the **2022** incentive plan, **422,880** from the **2023** incentive plan, and **499,800** from the **2024** incentive plan, totaling **1,323,540** restricted shares to be cancelled[106](index=106&type=chunk) - The **856,320** restricted shares from the second vesting period of the first grant under the Company's **2023** restricted stock incentive plan, and the **952,800** restricted shares from the first vesting period of the first grant under the **2024** restricted stock incentive plan, completed share registration procedures on **July 9, 2025**[107](index=107&type=chunk) - The shares vested in this period originated from the Company's repurchase of its A-share common stock from the secondary market, thus the Company's total share capital will not change[107](index=107&type=chunk) [IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information by Law](index=31&type=section&id=IV.%20Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information%20by%20Law) There is no information regarding enterprises required to disclose environmental information by law for this reporting period [V. Specific Progress in Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, etc.](index=31&type=section&id=V.%20Specific%20Progress%20in%20Consolidating%20and%20Expanding%20Poverty%20Alleviation%20Achievements%2C%20Rural%20Revitalization%2C%20etc.) There is no specific progress in consolidating and expanding poverty alleviation achievements, rural revitalization, etc., for this reporting period [Significant Matters](index=32&type=section&id=Section%20V%20Significant%20Matters) This section details the fulfillment of commitments by the company and its related parties, absence of illegal fund occupation or guarantees, and provides an overview of major contracts, fundraising utilization, and other significant events [I. Fulfillment of Commitments](index=32&type=section&id=I.%20Fulfillment%20of%20Commitments) This section details the commitments made by the Company's actual controllers, shareholders, related parties, and the Company itself regarding initial public offerings, equity incentives, including share lock-up, repurchase for fraudulent issuance, measures to offset diluted immediate returns, profit distribution policies, regulation of related-party transactions, and disciplinary measures for non-fulfillment of commitments, stating that all commitments have been strictly fulfilled - The Company's controlling shareholder, actual controllers, non-independent directors, senior management, supervisors, and core technical personnel all have share lock-up commitments, including lock-up periods, reduction prices not lower than the issue price, and annual reduction proportion limits[111](index=111&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) - The Company, its controlling shareholder, and actual controllers commit that if there is any fraudulent issuance and listing, they will initiate a share repurchase procedure within **5** working days after confirmation by the China Securities Regulatory Commission and other competent authorities, repurchasing all new shares issued in this public offering[118](index=118&type=chunk) - The Company, its controlling shareholder, actual controllers, directors, and senior management commit to strengthening the management of raised funds, accelerating the investment progress of fundraising projects, and further improving and strictly implementing cash dividend policies, among other measures, to offset diluted immediate returns[118](index=118&type=chunk)[119](index=119&type=chunk) - The Company, its controlling shareholder, and actual controllers commit to strictly distribute profits to shareholders in accordance with the profit distribution policies stipulated in the "Articles of Association (Draft)" and the "Three-Year Dividend Return Plan After the Company's Initial Public Offering and Listing," as approved by the General Meeting of Shareholders[119](index=119&type=chunk) - The controlling shareholder, actual controllers, directors, supervisors, senior management, and some shareholders commit to minimizing related-party transactions with the Company and its subsidiaries, and for unavoidable related-party transactions, they will adhere to the principles of fairness, reasonableness, and fair pricing[121](index=121&type=chunk)[122](index=122&type=chunk)[123](index=123&type=chunk) - If the Company, its controlling shareholder, actual controllers, directors, supervisors, senior management, and core technical personnel fail to fulfill their public commitments, they will publicly explain the reasons and apologize, and accept restrictive measures such as salary reduction and prohibition of share transfer[123](index=123&type=chunk)[124](index=124&type=chunk)[125](index=125&type=chunk) - The Company commits not to provide loans or any other form of financial assistance to the beneficiaries of the equity incentive plan; beneficiaries commit that if the Company's information disclosure documents contain false records or other issues leading to non-compliance with equity grant or exercise arrangements, they will return all benefits obtained from this incentive plan[125](index=125&type=chunk)[126](index=126&type=chunk)[127](index=127&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties During the Reporting Period](index=48&type=section&id=II.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholder%20and%20Other%20Related%20Parties%20During%20the%20Reporting%20Period) During the reporting period, there was no non-operating fund occupation by the controlling shareholder or other related parties [III. Irregular Guarantees](index=48&type=section&id=III.%20Irregular%20Guarantees) During the reporting period, there were no irregular guarantees [IV. Semi-Annual Report Audit Status](index=49&type=section&id=IV.%20Semi-Annual%20Report%20Audit%20Status) This semi-annual report is unaudited - This semi-annual report is unaudited[4](index=4&type=chunk) [V. Changes and Handling of Matters Involving Non-Standard Audit Opinions in the Previous Annual Report](index=49&type=section&id=V.%20Changes%20and%20Handling%20of%20Matters%20Involving%20Non-Standard%20Audit%20Opinions%20in%20the%20Previous%20Annual%20Report) Not applicable [VI. Bankruptcy and Reorganization Matters](index=49&type=section&id=VI.%20Bankruptcy%20and%20Reorganization%20Matters) Not applicable [VII. Major Litigation and Arbitration Matters](index=49&type=section&id=VII.%20Major%20Litigation%20and%20Arbitration%20Matters) During the reporting period, the Company had no major litigation or arbitration matters [VIII. Alleged Violations, Penalties, and Rectification of Listed Company, Its Directors, Supervisors, Senior Management, Controlling Shareholder, and Actual Controllers](index=49&type=section&id=VIII.%20Alleged%20Violations%2C%20Penalties%2C%20and%20Rectification%20of%20Listed%20Company%2C%20Its%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20Controlling%20Shareholder%2C%20and%20Actual%20Controllers) Not applicable [IX. Explanation of the Integrity Status of the Company, Its Controlling Shareholder, and Actual Controllers During the Reporting Period](index=49&type=section&id=IX.%20Explanation%20of%20the%20Integrity%20Status%20of%20the%20Company%2C%20Its%20Controlling%20Shareholder%2C%20and%20Actual%20Controllers%20During%20the%20Reporting%20Period) During the reporting period, the Company, its controlling shareholder, and actual controllers maintained good integrity, with no unfulfilled obligations determined by effective legal documents, or large overdue debts - During the reporting period, the Company, its controlling shareholder, and actual controllers maintained good integrity, with no unfulfilled obligations determined by effective legal documents, or large overdue debts[129](index=129&type=chunk) [X. Major Related-Party Transactions](index=49&type=section&id=X.%20Major%20Related-Party%20Transactions) During the reporting period, there were no disclosed or undisclosed major related-party transactions related to daily operations, asset acquisitions/disposals, joint external investments, nor any related-party creditor-debtor relationships or financial business with affiliated finance companies [XI. Major Contracts and Their Fulfillment](index=50&type=section&id=XI.%20Major%20Contracts%20and%20Their%20Fulfillment) During the reporting period, the Company had no entrustment, contracting, or leasing matters, but disclosed significant guarantees provided by the Company and its subsidiaries to subsidiaries, with a total guarantee amount of **129 million RMB**, accounting for **4.11%** of the Company's net assets Guarantees Provided by the Company and Its Subsidiaries to Subsidiaries | Guaranteed Party | Guarantee Amount (RMB) | Guarantee Start Date | Guarantee End Date | Is Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Dosilicon Semiconductor (Hong Kong) Co., Ltd. | 24,000,000.00 | 2022/7/20 | 2025/7/31 | No | | Dosilicon Semiconductor (Hong Kong) Co., Ltd. | 30,000,000.00 | 2023/9/13 | 2025/1/26 | Yes | | Dosilicon Semiconductor (Hong Kong) Co., Ltd. | 128,854,800.00 | 2021/9/1 | 2026/8/31 | No | - The Company's total guarantee amount (including guarantees to subsidiaries) is **128,854,800.00 RMB**[135](index=135&type=chunk) - The total guarantee amount accounts for **4.11%** of the Company's net assets[135](index=135&type=chunk) - The debt guarantee amount provided for guaranteed parties with an asset-liability ratio exceeding **70%** is **128,854,800.00 RMB**[135](index=135&type=chunk) [XII. Explanation of Progress in Use of Raised Funds](index=53&type=section&id=XII.%20Explanation%20of%20Progress%20in%20Use%20of%20Raised%20Funds) This section discloses the overall use of the Company's raised funds and details of the fundraising projects. As of the end of the reporting period, cumulative raised funds invested totaled **2.13 billion RMB**, with an investment progress of **69.53%**. The "1xnm Flash Product R&D and Industrialization Project" has been completed, and the remaining **124 million RMB** of raised funds will permanently supplement working capital. The Company also used idle raised funds for cash management Overall Use of Raised Funds | Indicator | Amount (10,000 RMB) | | :--- | :--- | | Total Raised Funds | 333,677.44 | | Net Raised Funds | 306,358.16 | | Cumulative Raised Funds Invested as of End of Reporting Period | 213,013.06 | | Cumulative Investment Progress of Raised Funds as of End of Reporting Period (%) | 69.53 | - The "1xnm Flash Product R&D and Industrialization Project," a fundraising investment project from the Company's initial public offering, has been completed and reached its intended usable state, closing on **June 30, 2025**. The remaining raised funds of **124.2391 million RMB** will be used to permanently supplement the Company's working capital[141](index=141&type=chunk)[149](index=149&type=chunk)[150](index=150&type=chunk) Detailed Use of Over-Raised Funds | Purpose | Total Over-Raised Funds Planned for Investment (10,000 RMB) | Cumulative Over-Raised Funds Invested as of End of Reporting Period (10,000 RMB) | | :--- | :--- | :--- | | Permanent Supplement to Working Capital from Over-Raised Funds | 129,300.00 | 129,300.00 | | Repurchase of Company Shares with Over-Raised Funds | 20,028.97 | 20,028.97 | | Over-Raised Funds Unused | 82,029.19 | 0 | | Total | 231,358.16 | 149,328.97 | - During this reporting period, the Company cumulatively used **968 million RMB** of temporarily idle raised funds to purchase principal-protected products such as negotiable large-denomination certificates of deposit, notice deposits, and structured deposits, with a cumulative redemption amount of **1.106 billion RMB**; as of **June 30, 2025**, the unredeemed balance of principal-protected products was **862 million RMB**[146](index=146&type=chunk)[147](index=147&type=chunk) [XIII. Explanation of Other Significant Matters](index=59&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) Not applicable [Share Changes and Shareholder Information](index=59&type=section&id=Section%20VI%20Share%20Changes%20and%20Shareholder%20Information) This section details the company's share capital changes, shareholder structure, and information on directors, senior management, and core technical personnel holdings [I. Share Capital Changes](index=59&type=section&id=I.%20Share%20Capital%20Changes) During the reporting period, there were no changes in the Company's total number of common shares or share capital structure - During the reporting period, there were no changes in the Company's total number of common shares or share capital structure[152](index=152&type=chunk) [II. Shareholder Information](index=59&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the total number of common shareholders was **19,095**. This section discloses the shareholdings of the top ten shareholders and the top ten shareholders with unrestricted shares, with controlling shareholder Oriental Hengxin Group Co., Ltd. holding **34.28%**. The Company's dedicated share repurchase account held **8,725,033** shares - Total number of common shareholders as of the end of the reporting period: **19,095** households[153](index=153&type=chunk) Top Ten Shareholders' Shareholdings (Excluding Shares Lent via Securities Relending) | Shareholder Name | Number of Shares Held at Period End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Oriental Hengxin Group Co., Ltd. | 151,624,562 | 34.28 | Domestic Non-State-Owned Legal Person | | Suzhou Dosilicon Sci-Tech Equity Investment Partnership (Limited Partnership) | 22,500,000 | 5.09 | Other | | CITIC Securities Co., Ltd. - Harvest SSE STAR Market Chip ETF | 7,323,301 | 1.66 | Other | | Zhao Jianping | 5,130,000 | 1.16 | Domestic Natural Person | | Ningbo Meishan Bonded Port Area Lingding Investment Management Co., Ltd. - Lingding Hengrui No. 8 Private Securities Investment Fund | 3,361,388 | 0.76 | Other | - Among the Company's top ten shareholders is the "Dosilicon Semiconductor Co., Ltd. Repurchase Dedicated Securities Account," which held **8,725,033** shares as of the end of the reporting period[157](index=157&type=chunk) - Oriental Strait Capital Management Co., Ltd., the executive partner of Suzhou Dosilicon Sci-Tech Equity Investment Partnership (Limited Partnership), is a controlled subsidiary of Oriental Hengxin Group Co., Ltd[157](index=157&type=chunk) [III. Information on Directors, Senior Management, and Core Technical Personnel](index=62&type=section&id=III.%20Information%20on%20Directors%2C%20Senior%20Management%2C%20and%20Core%20Technical%20Personnel) During the reporting period, the indirect shareholdings of the Company's directors, senior management, and core technical personnel increased due to the controlling shareholder's additional purchases. Additionally, this section discloses the number of second-class restricted shares granted to and vested by some directors, senior management, and core technical personnel - During the reporting period, the Company's controlling shareholder, Oriental Hengxin, cumulatively increased its shareholding in the Company by **4,571,727** shares through centralized bidding transactions on the Shanghai Stock Exchange, leading to an increase in the indirect shareholdings of Chairman Jiang Xueming, Director and General Manager Xie Yingxia, Director Lü Jianguo, former Supervisory Board Chairman Wang Qinqiang, and former Supervisor Shan Huixing[159](index=159&type=chunk) Number of Restricted Shares Granted to Directors, Senior Management, and Core Technical Personnel at Period End | Name | Position | Number of Restricted Shares Granted at Period End (shares) | | :--- | :--- | :--- | | Jiang Xueming | Chairman | 276,000 | | Xie Yingxia | Director, General Manager | 245,280 | | Jiang Yuzhou | Director, Deputy General Manager, Board Secretary | 115,080 | | Chen Lei | Deputy General Manager | 132,760 | | KIM HACK SOO | Deputy General Manager | 160,720 | | Feng Yusheng | Deputy General Manager | 115,080 | | Pan Huizhong | Deputy General Manager | 132,760 | | Chen Hui | Core Technical Personnel | 146,000 | | Chen Weirong | Core Technical Personnel | 146,000 | | LEE HYUNGSANG | Core Technical Personnel | 63,800 | | Total | / | 1,533,480 | - The share registration procedures for **599,520** shares vested from the second vesting period of the first grant under the Company's **2023** restricted stock incentive plan, and **615,840** shares vested from the first vesting period of the first grant under the **2024** restricted stock incentive plan, were completed on **July 9, 2025**[161](index=161&type=chunk) [IV. Changes in Controlling Shareholder or Actual Controllers](index=64&type=section&id=IV.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controllers) During the reporting period, there were no changes in the Company's controlling shareholder or actual controllers [V. Implementation and Changes of Depositary Receipt Arrangements During the Reporting Period](index=64&type=section&id=V.%20Implementation%20and%20Changes%20of%20Depositary%20Receipt%20Arrangements%20During%20the%20Reporting%20Period) Not applicable [VI. Special Voting Rights Shares](index=64&type=section&id=VI.%20Special%20Voting%20Rights%20Shares) Not applicable [VII. Preferred Shares Information](index=64&type=section&id=VII.%20Preferred%20Shares%20Information) Not applicable [Bond-Related Information](index=64&type=section&id=Section%20VII%20Bond-Related%20Information) This section confirms the absence of company bonds, corporate bonds, non-financial enterprise debt financing instruments, or convertible corporate bonds [I. Company Bonds (Including Corporate Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=64&type=section&id=I.%20Company%20Bonds%20(Including%20Corporate%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) Not applicable [II. Convertible Corporate Bonds](index=64&type=section&id=II.%20Convertible%20Corporate%20Bonds) Not applicable [Financial Report](index=65&type=section&id=Section%20VIII%20Financial%20Report) This section presents the company's unaudited semi-annual financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owner's equity, along with detailed notes on accounting policies, tax items, and financial statement items [I. Audit Report](index=65&type=section&id=I.%20Audit%20Report) This semi-annual report is unaudited - This semi-annual report is unaudited[4](index=4&type=chunk) [II. Financial Statements](index=65&type=section&id=II.%20Financial%20Statements) This section provides the Company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owner's equity for the first half of **2025**, comprehensively reflecting the Company's financial position, operating results, and cash flows Consolidated Balance Sheet (June 30, 2025) | Item | Ending Balance (RMB) | Beginning Balance (RMB) | | :--- | :--- | :--- | | Monetary Funds | 579,391,443.19 | 729,533,640.15 | | Financial Assets Held for Trading | 743,087,000.01 | 250,168,611.11 | | Inventory | 952,837,229.32 | 892,341,994.94 | | Total Assets | 3,478,058,964.22 | 3,530,781,006.35 | | Total Liabilities | 184,251,504.81 | 161,204,671.14 | | Total Owner's Equity Attributable to Parent Company | 3,135,977,131.46 | 3,209,317,640.11 | Consolidated Income Statement (January-June 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Operating Revenue | 342,991,662.20 | 266,283,618.11 | | Operating Cost | 278,631,498.15 | 230,848,097.09 | | Total Profit | -129,051,283.47 | -93,274,194.12 | | Net Profit Attributable to Parent Company Shareholders | -110,968,499.83 | -91,121,081.89 | Consolidated Cash Flow Statement (January-June 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -56,392,480.18 | -173,050,008.84 | | Net Cash Flow from Investing Activities | -104,166,619.26 | -40,834,095.19 | | Net Cash Flow from Financing Activities | 10,494,717.19 | -23,391,416.49 | | Net Increase in Cash and Cash Equivalents | -150,142,196.96 | -240,602,853.15 | [III. Basic Company Information](index=87&type=section&id=III.%20Basic%20Company%20Information) This section provides an overview of Dosilicon Semiconductor Co., Ltd., including its establishment date, listing date, registered capital, legal representative, registered address, headquarters address, and main business activities, namely the R&D, design, production, and sales of semiconductor chips - Company Name: Dosilicon Semiconductor Co., Ltd[200](index=200&type=chunk) - Listing Date: **December 10, 2021**[200](index=200&type=chunk) - Registered Capital: **442,249,758.00 RMB**[200](index=200&type=chunk) - Main Business Activities: R&D, design, and sales of semiconductor chips, providing semiconductor chip-related development services and product technical support[200](index=200&type=chunk) [IV. Basis of Financial Statement Preparation](index=87&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance and relevant regulations of the China Securities Regulatory Commission, and on a going concern basis - These financial statements are prepared in accordance with the "Basic Standards for Business Accounting Standards" and various specific accounting standards, application guidelines, interpretations of accounting standards, and other relevant regulations issued by the Ministry of Finance, as well as the relevant provisions of the China Securities Regulatory Commission's "Reporting Rules for Information Disclosure by Companies Issuing Securities No. 15 - General Provisions for Financial Reports"[201](index=201&type=chunk) - These financial statements are prepared on a going concern basis[202](index=202&type=chunk) [V. Significant Accounting Policies and Estimates](index=87&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the Company's specific accounting policies and estimates regarding accounting period, operating cycle, functional currency, materiality standards, business combinations, consolidated financial statement preparation, joint arrangements, cash and cash equivalents, foreign currency transactions and translation, financial instruments, inventories, contract assets, assets held for sale, long-term equity investments, fixed assets, construction in progress, borrowing costs, intangible assets, impairment of long-term assets, long-term deferred expenses, contract liabilities, employee benefits, provisions, share-based payments, preferred shares/perpetual bonds, revenue, contract costs, government grants, deferred income tax assets/liabilities, and leases, as well as the impact of implementing Interpretation No. 18 of the new accounting standards on the presentation of operating costs starting from **2025** - The Company uses **RMB** as its functional currency. Its subsidiaries determine their functional currency based on their primary economic environment; Dosilicon Semiconductor (Hong Kong) Co., Ltd. uses **USD**, while Fidelix Co., Ltd. and Nemostech Inc. use **KRW**[207](index=207&type=chunk) - Based on the Company's business model for managing financial assets and the contractual cash flow characteristics of financial assets, financial assets are classified at initial recognition as: financial assets measured at amortized cost, financial assets measured at fair value through other comprehensive income, and financial assets measured at fair value through profit or loss[220](index=220&type=chunk) - Inventories are valued using the weighted average method when issued. At the balance sheet date, inventories are measured at the lower of cost and net realizable value[239](index=239&type=chunk)[242](index=242&type=chunk) - Expenditures for the Company's internal research and development projects are divided into research phase expenditures and development phase expenditures. Research phase expenditures are recognized in profit or loss when incurred. Development phase expenditures that meet specific conditions are recognized as intangible assets[267](index=267&type=chunk)[268](index=268&type=chunk) - The Company recognizes revenue when it satisfies a performance obligation in a contract, i.e., when the customer obtains control of the related goods or services. For contracts containing two or more performance obligations, the Company allocates the transaction price to each distinct performance obligation at contract inception based on the relative standalone selling prices of the goods or services promised in each distinct performance obligation[285](index=285&type=chunk) - The Company has implemented "Interpretation No. 18 of Accounting Standards for Business Enterprises" starting from **2024**, reclassifying warranty-type quality assurance provisions previously included in "selling expenses" to "operating costs," and retrospectively adjusting prior period figures[313](index=313&type=chunk)[314](index=314&type=chunk) [VI. Taxes](index=109&type=section&id=VI.%20Taxes) This section discloses the Company's main tax categories and rates, including VAT, urban maintenance and construction tax, education surcharge, local education surcharge, and corporate income tax. The Company enjoys a **15%** corporate income tax preferential rate as a high-tech enterprise and is recognized as a key integrated circuit design enterprise encouraged by the state, benefiting from a "five-year exemption, five-year half reduction" policy Main Tax Categories and Rates | Tax Category | Tax Rate | | :--- | :--- | | VAT | 13%, 10%, 6% | | Urban Maintenance and Construction Tax | 5%, 7% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | | Corporate Income Tax | 15%, 25%, 16.5%, 20.9%, 9.9% | - The Company's high-tech enterprise qualification review passed, obtaining the "High-Tech Enterprise Certificate," and enjoys a **15%** corporate income tax preferential rate during its validity period[317](index=317&type=chunk) - The Company was first recognized as a key integrated circuit design enterprise encouraged by the state, enjoying corporate income tax exemption for the first five years from its first profitable year, and a reduced rate of **10%** for subsequent years[318](index=318&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=110&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on various assets, liabilities, owner's equity, revenue, costs, expenses, and other items in the consolidated financial statements, including ending balances, beginning balances, current period changes, and related explanations - The ending balance of monetary funds was **579,391,443.19 RMB**, of which **64,395,762.96 RMB** was deposited overseas[320](index=320&type=chunk)[321](index=321&type=chunk) - The ending balance of financial assets held for trading was **743,087,000.01 RMB**, primarily structured deposits, representing a **197.03%** increase from the beginning of the period[323](index=323&type=chunk)[89](index=89&type=chunk) - The ending book value of accounts receivable was **118,813,053.52 RMB**, of which **29,465,400.89 RMB** was provided for bad debts on an individual basis[327](index=327&type=chunk)[329](index=329&type=chunk) - The ending book value of inventory was **952,837,229.32 RMB**, with an inventory impairment provision balance of **174,833,169.57 RMB** at period end[352](index=352&type=chunk) - Among long-term equity investments, the investment loss in associate Lisuo Technology (Shanghai) Co., Ltd. was **-52,311,146.71 RMB**[363](index=363&type=chunk) - The ending balance of other equity instrument investments was **111,735,739.03 RMB**, with a current period increase of **20,000,000.00 RMB**, primarily due to investment in Shanghai Daohe Chanxin Private Equity Investment Partnership (Limited Partnership)[366](index=366&type=chunk) - The ending book value of fixed assets was **116,747,933.33 RMB**, with an accumulated depreciation ending balance of **194,953,117.31 RMB**[370](index=370&type=chunk) - The ending original book value of goodwill was **46,836,302.20 RMB**, with a full impairment provision of **46,836,302.20 RMB** already made[380](index=380&type=chunk)[382](index=382&type=chunk) - The ending balance of deferred income tax assets was **24,108,850.79 RMB**, and deferred income tax liabilities was **42,465.91 RMB**[389](index=389&type=chunk) - The ending balance of short-term borrowings was **5,269,190.15 RMB**, a decrease of **64.53%** from the beginning of the period, primarily due to the repayment of some bank loans[397](index=397&type=chunk)[89](index=89&type=chunk) - The ending balance of accounts payable was **101,572,609.98 RMB**, an increase of **69.24%** from the beginning of the period, primarily due to increased payables for goods[401](index=401&type=chunk)[89](index=89&type=chunk) - The ending balance of employee benefits payable was **24,611,523.73 RMB**, a decrease of **30.30%** from the beginning of the period, primarily due to the payment of last year's annual bonus in the current period[405](index=405&type=chunk)[89](index=89&type=chunk) - The ending balance of long-term employee benefits payable was **10,673,094.87 RMB**, primarily net defined benefit liabilities[420](index=420&type=chunk) - The ending balance of provisions was **2,668,707.99 RMB**, an increase of **49.62%** from the beginning of the period, primarily due to the Company's expanded sales scale and a corresponding increase in accrued return costs[427](index=427&type=chunk)[89](index=89&type=chunk) - The ending balance of deferred income was **7,936,243.95 RMB**, an increase of **88.66%** from the beginning of the period, primarily due to increased government grants[428](index=428&type=chunk)[89](index=89&type=chunk) - The ending balance of capital reserves was **3,255,252,555.85 RMB**, with a current period increase of **30,262,232.69 RMB**, primarily due to equity incentive contributions and share-based payment expenses[431](index=431&type=chunk)[432](index=432&type=chunk) - The ending balance of undistributed profits was **-407,784,457.66 RMB**, an expanded loss compared to **-296,815,957.83 RMB** at the beginning of the period[437](index=437&type=chunk) - Current period operating revenue was **342,991,662.20 RMB**, and operating cost was **278,631,498.15 RMB**[440](index=440&type=chunk) - Current period financial expenses were **7,684,279.56 RMB**, compared to **-21,640,013.74 RMB** in the prior period, mainly due to decreased interest income and increased exchange losses[448](index=448&type=chunk) - Current period investment income was **-42,155,167.97 RMB**, compared to **9,950,900.35 RMB** in the prior period, primarily affected by investment losses in associates[451](index=451&type=chunk) - Current period fair value change gain was **2,037,074.84 RMB**, compared to **-1,349,326.07 RMB** in the prior period, mainly due to fair value changes in financial assets held for trading[452](index=452&type=chunk) - Current period credit impairment loss was **-3,221,034.83 RMB**, and asset impairment loss was **-3,204,216.48 RMB**[453](index=453&type=chunk)[454](index=454&type=chunk) - Current period income tax expense was **-4,629,269.14 RMB**, compared to **-161,478.38 RMB** in the prior period[458](index=458&type=chunk) - Net cash flow from operating activities was **-56,392,480.18 RMB**, an improvement of **116.6575 million RMB** compared to **-173,050,008.84 RMB** in the prior period[467](index=467&type=chunk) - Net cash flow from investing activities was **-104,166,619.26 RMB**, an increased outflow compared to **-40,834,095.19 RMB** in the prior period[467](index=467&type=chunk) - Net cash flow from financing activities was **10,494,717.19 RMB**, changing from an outflow to an inflow compared to **-23,391,416.49 RMB** in the prior period[467](index=467&type=chunk) [VIII. R&D Expenses](index=158&type=section&id=VIII.%20R%26D%20Expenses) During the reporting period, the Company's total R&D expenses were **105 million RMB**, primarily consisting of salaries and benefits, depreciation and amortization, and processing service fees,

证券代码：688110 证券简称：东芯股份 公告编号：2025-043 东芯半导体股份有限公司 关于部分募投项目结项并将节余募集 资金永久补充流动资金的公告 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。 东芯半导体股份有限公司（以下简称"公司"）于2025年8月21日召开了第三届董 事会第二次会议，审议通过了《关于部分募投项目结项并将节余募集资金永久补充流 动资金的议案》，鉴于公司首次公开发行募集资金投资项目之"1xnm闪存产品研发及 产业化项目"已建设完成并达预定可使用状态，同意将前述项目予以结项，并将项目 节余募集资金12,423.91万元（实际金额以募集资金转出当日专户余额为准）用于 永久补充公司流动资金。保荐机构对此发表了明确同意意见，相关事项无需提交股东 会审议。现将具体情况公告如下： 一、募集资金基本情况 根据中国证券监督管理委员会作出的《关于同意东芯半导体股份有限公司首次 公开发行股票注册的批复》（证监许可[2021]3558号），并经上海证券交易所同意， 公司获准向社会公开发行人民币普通股11,056.2 ...

2025 年上半年，公司继续深耕存储芯片主业，主动适应不断变化的经营环 境，持续加大技术和产品研发的投入。同时公司以存储为核心，向"存、算、联" 一体化领域进行技术布局，拓展行业应用领域，优化业务布局，以期为客户提供 更多样化的芯片解决方案。公司高度重视自主知识产权的保护，秉承长期主义理 念，坚持技术创新，致力于持续为企业、行业及社会创造更大价值。 （一）深耕主营业务，坚持技术创新 东芯半导体股份有限公司 关于 2025 年度"提质增效重回报"行动方案 的半年度评估报告 东芯半导体股份有限公司（以下简称"东芯股份"或"公司"）为践行"以 投资者为本"的上市公司发展理念，切实履行上市公司的责任，进一步提升公司 经营管理水平，不断提高公司核心竞争力，维护全体股东的利益，公司于 2025 年 4 月 23 日发布了《2025 年度"提质增效重回报"行动方案》。2025 年上半年 （以下简称"报告期"），公司积极开展和落实行动方案各项工作，取得了良好的 效果，现将行动方案 2025 年半年度执行情况评估如下： 一、聚焦公司主业，优化业务布局 报告期内，公司继续加强在 SLC NAND Flash 行业的技术领先优势， ...

证券代码：688110 证券简称：东芯股份 公告编号：2025-042 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。 根据中国证券监督管理委员会《上市公司募集资金监管规则》（证监会公告〔2025〕 10 号）、《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》等相关 规定，东芯半导体股份有限公司（以下简称"公司"）董事会就 2025 年半年度募集资金 存放、管理与实际使用情况作出如下说明： 一、 募集资金基本情况 （一）实际募集资金金额和到账时间 东芯半导体股份有限公司 2025 年半年度募集资金存放、管理与实际使用情况的 专项报告 经中国证券监督管理委员会《关于同意东芯半导体股份有限公司首次公开发行股票 注册的批复》（证监许可[2021]3558 号），并经上海证券交易所同意，公司于 2021 年 12 月向社会公开发行人民币普通股 11,056.244 万股，每股面值人民币 1.00 元，每股发 行价为人民币 30.18 元，募集资金总额为人民币 333,677.44 万元，扣除发行费用后的募 集资金 ...

东芯半导体股份有限公司（以下简称"公司"）于2025年8月21日召开了第 三届董事会第二次会议，审议通过了《关于修订公司部分内部治理制度的议案》， 现将具体情况公告如下： 为进一步促进公司规范运作，健全内部管理机制，根据《中华人民共和国公 司法》《上市公司信息披露管理办法》《上市公司信息披露暂缓与豁免管理规定》 《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》等法律、 法规和规范性文件的要求及《公司章程》的规定，公司结合实际情况，对《东芯 半导体股份有限公司信息披露管理制度》《东芯半导体股份有限公司信息披露暂 缓与豁免业务管理制度》进行了修订。 本次部分内部治理制度修订事项已经公司第三届董事会第二次会议审议通 过，无须提交公司股东会审议。 证券代码：688110 证券简称：东芯股份 公告编号：2025-044 东芯半导体股份有限公司 关于修订公司部分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。 修订后的《东芯半导体股份有限公司信息披露管理制度》及《东芯半导体股 份有限公司信息披露暂缓与豁 ...

东芯半导体股份有限公司信息披露暂缓与豁免业务管理制度 第一条 为规范东芯半导体股份有限公司（以下简称"公司"）信息披露暂 缓与豁免行为，督促公司及相关信息披露义务人（以下简称"信息披露义务人" ）依法合规地履行信息披露义务，保护投资者的合法权益，依据《中华人民共和 国证券法》《上市公司信息披露暂缓与豁免管理规定》《上海证券交易所科创板 股票上市规则》（以下简称"《科创板上市规则》"）和《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》（以下简称"《规范运作》"） 等法律法规、规范性文件的相关规定以及《东芯半导体股份有限公司章程》（以 下简称"公司章程"）《东芯半导体股份有限公司信息披露管理制度》等有关规 定，制定本制度。 第二条 信息披露义务人按照《科创板上市规则》《规范运作》及其他相关 法律法规、规范性文件的规定，办理信息披露暂缓、豁免业务的，适用本制度。 第三条 信息披露义务人应当披露的信息存在《科创板上市规则》《规范运 作》及上海证券交易所（以下简称"上交所"）其他相关业务规则中规定的暂缓、 豁免情形的，可以无须向上交所申请，由信息披露义务人自行审慎判断，履行内 部审核程序后实施，并接受上 ...

东芯半导体股份有限公司信息披露管理制度 东芯半导体股份有限公司 信息披露管理制度 第一章 总则 第一条 为加强对东芯半导体股份有限公司（以下简称"公司"）信息披露工 作的管理，规范公司的信息披露行为，保证公司真实、准确、完整地披露信息，维 护公司股东特别是社会公众股东的合法权益，依据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上 市公司信息披露管理办法》《上市公司治理准则》《上海证券交易所科创板股票上 市规则》（以下简称"《科创板上市规则》"）等有关法律法规和规范性文件及《东 芯半导体股份有限公司章程》（以下简称"《公司章程》"）的规定，特制定本制度。 第二条 公司及相关信息披露义务人应当依照相关法律法规和规范性文件以 及本制度的规定，及时、公平地披露所有对公司股票及其衍生品种交易价格可能产 生较大影响的信息，并保证所披露的信息真实、准确、完整，不得有虚假记载、误 导性陈述或者重大遗漏。 第三条 信息披露义务人包括但不限于： （一） 公司的全体董事和高级管理人员； （二） 各职能部门、分公司、直接或间接控制的子公司的主要负责人和相关 工作人员； ...

东芯股份8月22日披露半年报，公司上半年实现营业收入3.43亿元，同比增长28.81%；归属于上市公司 股东的净利润亏损1.11亿元，上年同期亏损9112.11万元；基本每股收益-0.26元。 ...