证券日报网讯12月17日，晶华微在互动平台回答投资者提问时表示，公司主营业务收入以境内销售为 主，2024年度境外销售收入占比为0.75%。公司有少量产品出口欧盟国家，业务占比相对较少。 ...

格隆汇12月17日｜有投资者在互动平台向晶华微提问：请问近两年是否出口欧盟国家？晶华微回复称， 公司主营业务收入以境内销售为主，2024年度境外销售收入占比为0.75%。公司有少量产品出口欧盟国 家，业务占比相对较少。 ...

从披露数据看，标的公司2025年至2027年预计净利润分别为4,383.44万元、4,864.15万元和6,392.45万 元，而业绩承诺方承诺的净利润则为3,500.00万元、5,000.00万元和6,500.00万元，两者存在明显差异。 更关键的是，申报材料未列示预测期内净利润调整至企业自由现金流量的具体过程，使得投资者无法验 证现金流预测的合理性。此外，本次交易采用的折现率为11.29%，其中权益资本成本计算中对公司特 定风险报酬率仅按2.00%预测，却未考虑标的公司客户集中度较高的特别风险。这种选择性忽略关键风 险因子的做法，无疑人为压低了折现率，从而推高了估值。 在资本市场日益强调高质量发展的当下，科技型上市公司通过并购整合优质资产以实现技术跃升和业务 协同，本应是值得鼓励的战略举措。然而，当一项交易的财务结构呈现出高度集中于无形判断、关键参 数缺乏充分验证、且新增商誉占净资产比重超过50%时，其所谓的"战略协同"便不得不令人重新审视其 真实动机与潜在风险。 禾信仪器 (股票代码：688130)拟收购某标的公司所引发的监管问询及后续披 露，恰好为市场提供了一个观察高溢价并购逻辑脆弱性的典型案例。 根 ...

Core Viewpoint - Jinhua Microelectronics has shown a mixed performance in stock price, with a year-to-date increase of 9.53% but recent declines over various trading periods [1][2] Company Overview - Jinhua Microelectronics, established on February 24, 2005, and listed on July 29, 2022, is located in Hangzhou, Zhejiang Province. The company specializes in the research and sales of high-performance analog and mixed-signal integrated circuits [1] - The main products include healthcare SoC chips, industrial control and instrumentation chips, and intelligent sensing SoC chips [1] Financial Performance - For the period from January to September 2025, Jinhua Microelectronics achieved operating revenue of 123 million yuan, representing a year-on-year growth of 27.32%. However, the net profit attributable to shareholders was -30.84 million yuan, a significant decrease of 330.86% compared to the previous year [2] - The company has distributed a total of 9.984 million yuan in dividends since its A-share listing [3] Shareholder Information - As of November 10, 2025, the number of shareholders for Jinhua Microelectronics was 7,981, reflecting a slight increase of 0.09%. The average number of circulating shares per person decreased by 0.09% to 7,553 shares [2] - The top ten circulating shareholders saw a change, with Huashang Shanghai Stock Exchange Science and Technology Innovation Board Composite Index Enhanced A (023897) exiting the list by September 30, 2025 [3] Market Activity - On November 25, Jinhua Microelectronics' stock price rose by 2.07% to 22.19 yuan per share, with a trading volume of 2.0561 million yuan and a turnover rate of 0.15%. The total market capitalization stood at 2.683 billion yuan [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on April 11, where net purchases amounted to 9.8671 million yuan [1]

证券日报网讯晶华微11月18日在互动平台回答投资者提问时表示，截至2025年11月10日，公司股东人数 为7981户。 （文章来源：证券日报） ...

Core Insights - The article highlights recent developments in the energy storage sector, particularly focusing on contracts won by Chinese companies in the domestic market, indicating a growing trend in energy storage projects [2]. Group 1: Haixi Communications - Haixi Communications announced a procurement contract for energy storage systems worth 402 million yuan (approximately 57.5 million USD) with Zhejiang Zhaohui Energy Technology [3]. - The project involves a 400MW/800MWh energy storage system, which is a significant initiative for the Shandong provincial grid, implemented in two phases: the first phase is 194MW/388MWh costing 197.88 million yuan, and the second phase is 200MW/400MWh costing 204 million yuan, both including a 13% tax [3]. - Haixi's energy storage solutions have been applied across various industries, achieving significant cost savings, such as over 1 million yuan in annual electricity savings at a demonstration station in Zhejiang and over 30% monthly electricity savings at a manufacturing facility in Anhui [3]. Group 2: Yiwei Power - Yiwei Power is the first candidate for a competitive bidding process for a 60MWh energy storage system as part of a 100MW photovoltaic project, with a bid of 28.8864 million yuan (approximately 4.1 million USD) [4][6]. - The bid translates to a unit price of 0.481 yuan/Wh, indicating competitive pricing in the energy storage market [6]. - The project includes a total installed capacity of 120MWp for the photovoltaic system, along with a 15MW/60MWh energy storage system [7].

Group 1 - The blood oxygen meter concept index rose by 1.56%, ranking fourth among concept sectors, with 14 stocks increasing in value [1] - Key performers included Kexiang Co., which hit the daily limit with a 20% increase, and Aipeng Medical and Huashengchang, which rose by 8.21% and 1.79% respectively [1] - The sector experienced a net inflow of 0.81 billion yuan from main funds, with Kexiang Co. leading the inflow at 2.28 billion yuan [1][2] Group 2 - The top stocks by net inflow ratio included Kexiang Co. at 11.60%, *ST Yitong at 8.95%, and Jinghua Micro at 7.72% [2] - The trading volume for Kexiang Co. was 22.8 billion yuan, with a turnover rate of 29.96% [2] - Other notable stocks included Aipeng Medical with a net inflow of 487.14 million yuan and a turnover rate of 23.39% [2] Group 3 - The blood oxygen meter sector's performance was contrasted with other sectors, such as cell immunotherapy, which rose by 2.20%, and cultivated diamonds, which fell by 4.21% [1] - Stocks with significant declines included Fenda Technology, Sichuan Changhong, and *ST Yitong, with decreases of 1.34%, 0.80%, and 0.54% respectively [1][3] - The overall market sentiment reflected a mixed performance across various sectors, highlighting the volatility within the healthcare and technology industries [3]

杭州晶华微电子股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度的经营成果、财务状况，公司计划于 2025 年 11 月 20 日(星期 四)下午 16:00-17:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进 行交流。 证券代码：688130 证券简称：晶华微 公告编号：2025-050 杭州晶华微电子股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 11 月 20 日(星期四) 下午 16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 13 日(星期四) 至 11 月 19 日(星期三)16 ...

Core Viewpoint - Jinghua Micro is a leading player in the high-performance analog and mixed-signal integrated circuit sector in China, with a focus on precision and low power consumption [1] Group 1: Business Performance - For Q3 2025, Jinghua Micro reported revenue of 123 million yuan, ranking 34th among 34 companies in the industry, significantly lower than the top competitors, with the industry leader, Huida Technology, generating 3.521 billion yuan [2] - The company's net profit for the same period was -30.84 million yuan, placing it 25th in the industry, far behind Huida Technology's 677 million yuan and the industry average of 29.658 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Jinghua Micro's debt-to-asset ratio was 7.39%, an increase from 1.69% year-on-year, but still below the industry average of 16.92%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 51.02%, down from 58.28% year-on-year, yet still above the industry average of 36.44%, suggesting a competitive profitability position [3] Group 3: Executive Compensation - The chairman, Lv Hanzhuan, received a salary of 420,000 yuan for 2024, unchanged from 2023, while the general manager, Liang Guiwu, saw an increase in salary to 2.3834 million yuan, up by 547,900 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 2.24% to 7,974, while the average number of circulating A-shares held per shareholder decreased by 2.19% to 7,560.21 [5]

Group 1 - The core point of the article is that Jinghua Micro (688130.SH) reported its third-quarter results, showing a significant increase in revenue but a larger net loss compared to the previous year [1] Group 2 - For the first three quarters of 2025, the company achieved an operating revenue of 123 million yuan, representing a year-on-year growth of 27.32% [1] - The net profit attributable to shareholders of the parent company was a loss of 30.84 million yuan, which is an increase in loss of 23.68 million yuan compared to the same period last year [1] - The basic earnings per share were reported at -0.26 yuan [1]