据证券之星公开数据整理，近期杰华特（688141）发布2025年中报。截至本报告期末，公司营业总收入 11.87亿元，同比上升58.2%，归母净利润-2.95亿元，同比上升12.44%。按单季度数据看，第二季度营业 总收入6.59亿元，同比上升56.47%，第二季度归母净利润-1.82亿元，同比下降42.08%。本报告期杰华特 盈利能力上升，毛利率同比增幅1.32%，净利率同比增幅43.82%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率28.16%，同比增1.32%，净利率-25.36%，同比 增43.82%，销售费用、管理费用、财务费用总计1.69亿元，三费占营收比14.22%，同比减15.11%，每股 净资产4.1元，同比减22.87%，每股经营性现金流-0.22元，同比增21.53%，每股收益-0.67元，同比增 10.67% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 7.51亿 | 11.87 乙 | 58.20% | | 归母净利润(元) | -3.37 乙 | -2.95 Z | 12. ...

Investment Rating - The investment rating for the company is "Outperform the Market" [6][28]. Core Views - The company achieved a record high revenue in Q2 2025, with a revenue of 1.187 billion yuan, representing a year-over-year increase of 58.20%. However, the net profit attributable to shareholders was -295 million yuan, indicating a continued loss but with a narrowing loss margin compared to the previous year [1]. - The company is focusing on diversifying its product offerings in emerging fields, with over 3,200 product models available as of mid-2025. New products have been launched in sectors such as renewable energy, automotive electronics, and communication [3]. - Despite short-term profit pressures due to intense market competition and high R&D investments, the company is expected to successfully expand into new markets and launch new products, maintaining the "Outperform the Market" rating [3]. Financial Performance Summary - In the first half of 2025, the company's revenue from power management chips reached 1.105 billion yuan, accounting for 93% of total revenue, with a gross margin increase of 0.76 percentage points to 28.44% [2]. - The revenue from DC-DC chips grew by 82.92% year-over-year to 674 million yuan, representing 57% of total revenue, while the gross margin for these chips improved by 0.3 percentage points to 25.50% [2]. - The company forecasts a gradual improvement in net profit, with estimates of -130 million yuan in 2025, followed by positive net profits of 52 million yuan in 2026 and 146 million yuan in 2027 [5][26].

Core Viewpoint - The company achieved record revenue in the first half of 2025, indicating a strong recovery in the semiconductor industry, particularly in the automotive and computing sectors, while also narrowing its net loss, suggesting a potential operational turning point [1][2]. Financial Performance - In the first half of 2025, the company reported revenue of 1.187 billion yuan, a year-on-year increase of 58.20%, marking a historical high for semi-annual performance [1][2]. - The net loss attributable to shareholders was 295.09 million yuan, a year-on-year reduction of 12.44%, indicating positive improvement [2]. Research and Development - The company invested 420 million yuan in R&D in the first half of 2025, a more than 30% increase from 320 million yuan in the same period last year [3]. - The number of R&D personnel reached 1,022, accounting for 61.49% of the total workforce, with a year-on-year growth of 60.94% [3]. - The company has applied for 1,550 domestic and international patents, with 768 patents granted, showcasing its strong innovation capabilities [3]. Market Trends and Opportunities - The semiconductor industry is in a state of recovery, with significant growth potential in the automotive-grade chip market, driven by the increasing demand for high-performance semiconductor products [1][4]. - The AI sector is emerging as a key growth driver, with high demand for power management solutions and efficient semiconductor products [4]. - The automotive electronics market is rapidly expanding, with projections indicating a compound annual growth rate (CAGR) of over 25% for new energy vehicle sales in China from 2025 to 2030 [4]. Strategic Initiatives - The company is pursuing a dual strategy of "technology leadership + ecological layout" to penetrate emerging markets [4]. - Recent acquisitions of semiconductor companies have expanded the company's product offerings and market reach, particularly in signal chain products and power management [5]. - The company is actively pursuing a listing on the Hong Kong Stock Exchange to enhance its capital structure and global brand presence [5].

8月25日晚间，杰华特发布2025年半年报。上半年，杰华特实现营收11.87亿元，同比增长58.20%，创历 史新高。归母净利润亏损29,509万元，同比收窄。报告期内，公司基本每股收益、稀释每股收益、扣除 非经常性损益后的基本每股收益分别较上年同期均有所上升。公司表示，行业下游终端市场客户采购需 求逐步恢复常态，同时公司重点投入的计算、汽车等领域产品逐步实现规模化量产，从而使得公司营收 同比大幅攀升。 从整体市场来看，半导体行业仍处于持续复苏状态，尤其是对于模拟芯片细分领域而言，国产车规级芯 片产品市场正处于规模化冲刺阶段，技术过硬创新能力在线的企业更具备爆发的潜力。近年来，杰华特 营收持续攀升，增长态势明确，同时公司还在持续加大研发创新、市场开拓、供应链优化及精细化运 营，车规级产品进一步丰富，正处于高增长高投入阶段，盈利拐点或有望加速出现。 营收再创历史新高 亏损收窄或迎来经营拐点 2025 年上半年，杰华特实现营业收入11.87亿元，创下半年度业绩新高，单季度来看，公司自2024年以 来营收已经实现连续6个季度正增长，2025年单季度营收增速近60%，增长显著。 汽车电子消费市场快速增长也推动了车规级 ...

杰华特微电子股份有限公司2025 年半年度报告摘要 公司代码：688141 公司简称：杰华特 杰华特微电子股份有限公司 杰华特微电子股份有限公司2025 年半年度报告摘要 第一节 重要提示 规划，投资者应当到 www.sse.com.cn 网站仔细阅读半年度报告全文。 报告期内，不存在对公司生产经营产生实质性影响的特别重大风险，公司已在本报告中描述可能 存在的风险，敬请查阅本报告"第三节 管理层讨论与分析"之"四、风险因素"部分。 完整性，不存在虚假记载、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 杰华特 688141 不适用 创板 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（信息披露境内代 证券事务代表 表） 姓名 马问问 韩晶晶 电话 0571-87806685 0571-87806685 办公地址 浙江省杭州市西湖区华星路创 浙江省杭州市西湖区华星路创 业大厦7楼西 业大厦7楼西 杰华特微电子股份有限 ...

Core Viewpoint - The company has developed a "Quality Improvement and Efficiency Enhancement Action Plan" for 2025, focusing on optimizing operations, governance, and investor returns, with significant progress reported in various areas of business development and technology innovation [1] Group 1: Business Development and Core Competitiveness - The company has achieved continuous revenue growth, reaching a historical high in Q2 2025, by focusing on technological upgrades and optimizing product performance [1] - A strategic partnership with leading wafer foundries has led to the development of a fully proprietary BCD process technology platform, enhancing the company's competitive edge in the market [1] - The company has established a comprehensive product line covering power management and signal chain chips, with over 3,200 product models available, catering to diverse customer needs [1][2] Group 2: Product Innovation and Market Expansion - The company has introduced advanced AC-DC series products with competitive advantages in technology and efficiency, gaining recognition in the market [2] - The company has made significant strides in the DC-DC chip product portfolio, achieving a cost advantage through optimized circuit design and high efficiency [2][3] - The company has launched a complete PC power solution and has entered the supply chains of major global notebook manufacturers, demonstrating its capability in the PC application sector [3] Group 3: Cost Reduction and Efficiency Enhancement - The company emphasizes cost reduction and efficiency as a core strategy, implementing centralized procurement and digital office processes to lower operational costs [7][8] - Continuous monitoring and adjustment of human resources are in place to ensure efficient allocation and high performance across departments [8] Group 4: Mergers and Acquisitions - The company has successfully completed acquisitions of several semiconductor firms, enhancing its product matrix and market position in the signal chain and sensor chip sectors [8] Group 5: International Market Positioning - The company has submitted an application for H-share listing on the Hong Kong Stock Exchange, aiming to leverage international capital markets for financing and brand enhancement [9] Group 6: Research and Development - The company has increased its R&D personnel to 1,022, focusing on key technology breakthroughs and patent applications to strengthen its competitive position [9] - A total of 1,550 patents have been applied for, with 768 granted, showcasing the company's commitment to innovation in the semiconductor field [9] Group 7: Corporate Governance and Investor Relations - The company is enhancing its governance structure to meet dual regulatory requirements for A-share and H-share listings, ensuring compliance and transparency [13] - Active investor relations management is prioritized, with multiple communication channels established to maintain transparency and trust with investors [14]

Group 1 - The company, Jiewater Microelectronics Co., Ltd., has decided to abolish its supervisory board and transfer its supervisory functions to the audit committee of the board of directors, in accordance with the new Company Law effective from July 1, 2024 [1][2] - The company will revise its Articles of Association and related internal governance systems to reflect the cancellation of the supervisory board, with the specific amendments detailed in an attached comparison table [1][5] - The revised Articles of Association and internal governance systems will require approval from the shareholders' meeting before implementation [1][2] Group 2 - The company is also in the process of formulating and revising several internal governance systems to enhance its operational standards, which will be submitted for shareholder approval [2][3] - The internal governance systems include management measures for related party transactions and cumulative voting implementation details, which will take effect upon the company's H-share listing [3][4] - The company will disclose the full text of the revised Articles of Association and internal governance systems on the Shanghai Stock Exchange website [2][3]

证券代码：688141 证券简称：杰华特 公告编号：2025-047 杰华特微电子股份有限公司 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。 一、监事会会议召开情况 杰华特微电子股份有限公司（以下简称"公司"）于2025年8月25日以现 场会议方式召开第二届监事会第十二次会议（以下简称"本次会议"）。根据 《杰华特微电子股份有限公司章程》（以下简称"《公司章程》"）的规定， 本次会议通知已于2025年8月21日以书面通知方式送达。本次会议由公司监事 会主席刘国强先生召集和主持，应参会监事3名，实际参会监事3名。本次会议 的召集、召开和表决情况符合《中华人民共和国公司法》及有关法律法规的规 定。 二、监事会会议审议情况 全体监事对本次监事会会议议案进行了审议，经表决形成如下决议： （一）审议通过了《关于 <公司2025年半年度报告> 及摘要的议案》 （三）审议通过《关于开展外汇衍生品交易业务的议案》 监事会认为：公司及控股子公司开展外汇衍生品交易业务能够有效规避外汇 市场的风险，防范汇率大幅波动对公司经营业绩造成不良影响， ...

杰华特微电子股份有限公司 关联交易管理办法 （2025 年 8 月修订） 第一条 为保障杰华特微电子股份有限公司（以下简称"公司"）关联交易 的公允性，确保公司的关联交易行为符合公平、公正、公开的原则以及监管部门 的规范要求，维护公司和全体股东的利益，根据《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》"）、《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》《上海证券交易所上市公司自律监管指引第 5 号——交易与关联交易》等法 律、法规、规范性文件及《杰华特微电子股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，制定本办法。 第二条 公司全资、控股子公司（以下合称"子公司"）发生的关联交易行为 适用本办法。 第一章 前 言 第二章 关联方 第三条 具有下列情形之一的自然人、法人和其他组织，为公司的关联人： （一）直接或者间接控制公司的自然人、法人或其他组织； （二）直接或间接持有公司 5%以上股份的自然人； （三）公司董事或高级管理人员 ...

杰华特微电子股份有限公司 独立董事工作制度 （2025 年 8 月修订） 第一章 总 则 第一条 为进一步完善杰华特微电子股份有限公司（以下简称"公司"）的 法人治理结构，强化对董事会及管理层的约束和监督机制，更好地维护中小股东 的利益，促进公司的规范运作，根据《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 公司治理准则》《上市公司独立董事管理办法》（以下简称"《管理办法》"）、 《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》"）、 《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、规范性文件以及《杰华特微电子股份有限公司章程》（以下简称"《公司章 程》"），制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及其主 要股东、实际控制人不存在直接或者间接利害关系，或者其他可能影响其进行独 立客观判断关系的董事。 独立董事应当独立履行职责，不受公司及其主要股东、实际控制人或其他与 公司存在利害关系的单位或个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务。独立董 ...