Core Viewpoint - Yan Dong Microelectronics (688172.SH) reported a significant increase in revenue for Q3 2025, but also posted a net loss for the period [1] Financial Performance - The company's operating revenue reached 508 million yuan, representing a year-on-year increase of 36.59% [1] - The net profit attributable to shareholders of the listed company was -141 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -159 million yuan [1]

Group 1 - The core viewpoint of the article highlights that Beijing Yandong Microelectronics Co., Ltd. reported a revenue of 1.167 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 18.03%, while the net profit attributable to shareholders was a loss of 13.4 million yuan [1] - In the third quarter alone, the company achieved a revenue of 507 million yuan, which is a year-on-year increase of 36.59%, with a net profit loss of 141 million yuan [1] - Research and development investment for the first three quarters increased by 161.85% year-on-year, while the third quarter saw a year-on-year increase of 105.54% [1] Group 2 - The company's main business includes two segments: products and solutions, and manufacturing and services. The products and solutions segment focuses on discrete devices and analog integrated circuits, adopting an IDM model that integrates chip design, wafer manufacturing, and packaging testing [1] - The manufacturing and services segment specializes in semiconductor foundry and packaging testing services, utilizing 6-inch, 8-inch, and 12-inch wafer production lines to provide professional outsourcing services for semiconductor companies [1] - The 8-inch and 6-inch wafer production lines have multiple process platforms capable of mass production, and some process platforms of the 12-inch production line have also achieved mass production [1]

第二条 本办法所称募集资金，是指公司通过公开发行证券（包括首次公开发行 股票、配股、增发、发行可转换公司债券、分离交易的可转换公司债券、权证等） 以及非公开发行证券向投资者募集并用于特定用途的资金，但不包括公司为实施股 权激励计划募集的资金监管。 募集资金管理办法 第一章 总 则 第一条 为了规范北京燕东微电子股份有限公司（以下简称"燕东股份"）的募 集资金的使用与管理，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》"）、《科创板上市公司持续 监管办法（试行）》、《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》、《上海证券交易所科创板股票上市规则》、《上市公司募集资金监管规 则》等规范性文件及《北京燕东微电子股份有限公司章程》（以下简称"《公司章 程》"）等有关规定，制定本办法。 第三条 本办法适用于北京燕东微电子股份有限公司（以下简称"燕东股份"） 及投资的全资公司、控股公司及实际控制公司（以下简称"所属公司"，燕东股份 及所属公司合并简称"燕东微"或"公司"）。 第四条 燕东股份董事会应当负责建立健全公司募集资金管理制度，并确保该 ...

Financial Performance - The company's revenue for the third quarter reached ¥507,726,838.47, an increase of 36.59% compared to the same period last year[3]. - The total profit for the quarter was a loss of ¥248,533,970.48, with a year-to-date loss of ¥212,425,946.21[3]. - The net profit attributable to shareholders was a loss of ¥141,005,771.07 for the quarter, and a loss of ¥13,400,432.67 year-to-date[3]. - Total operating revenue for the first three quarters of 2025 reached ¥1,166,668,127.75, an increase of 18% compared to ¥988,437,324.88 in the same period of 2024[19]. - The net loss for the first three quarters of 2025 was ¥130,549,128.75, slightly improved from a net loss of ¥138,646,126.39 in the same period of 2024[20]. - The comprehensive loss for the first three quarters of 2025 was ¥130,739,906.27, compared to a loss of ¥138,576,519.39 in the same period of 2024[20]. - The total comprehensive income attributable to minority shareholders was -117,148,696.08 RMB, compared to -16,588,137.78 RMB in the previous period[21]. Research and Development - Research and development expenses totaled ¥245,526,925.91 for the quarter, representing a 105.54% increase year-over-year[4]. - R&D expenses accounted for 48.36% of revenue in the current quarter, up 16.22 percentage points from the previous year[4]. - Research and development expenses surged to ¥609,540,215.35, representing a 162% increase from ¥232,782,528.55 in the previous year[19]. Assets and Liabilities - Total assets increased by 23.50% year-over-year, reaching ¥29,714,269,315.73[4]. - The equity attributable to shareholders rose by 27.26% year-over-year, totaling ¥18,678,983,710.18[4]. - Total current assets as of September 30, 2025, amount to ¥11,160,722,190.29, a decrease from ¥12,774,202,673.84 as of December 31, 2024[14]. - Total liabilities decreased to ¥3,782,574,302.73 from ¥5,765,010,087.49, indicating a reduction of approximately 34%[19]. - The total equity increased to ¥25,931,695,013.00, up from ¥18,295,186,604.65, reflecting a growth of about 42%[19]. Cash Flow - The net cash flow from operating activities for the year-to-date period was a negative ¥156,065,981.15, a decline of 144.43% compared to the previous year[3]. - Cash inflow from operating activities totaled 1,889,691,276.22 RMB, up from 1,685,509,553.47 RMB year-over-year[21]. - The net cash flow from investment activities was -8,448,596,031.72 RMB, worsening from -768,528,147.21 RMB year-over-year[22]. - Cash inflow from financing activities reached 8,696,878,891.64 RMB, compared to 91,125,300.00 RMB in the previous period[22]. - The net cash flow from financing activities was 5,678,126,586.02 RMB, a significant improvement from -47,991,451.19 RMB last year[22]. - The ending balance of cash and cash equivalents was 6,183,848,065.69 RMB, up from 4,310,037,165.27 RMB in the previous year[22]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 21,188[11]. - The largest shareholder, Beijing Electronic Holdings Co., Ltd., holds 645,657,112 shares, accounting for 45.21% of total shares[11]. Other Information - The company reported non-recurring gains of ¥17,691,473.95 for the quarter, with significant contributions from government subsidies and other non-operating income[6]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20]. - The company will not apply new accounting standards or interpretations starting from 2025[23].

证券代码：688172 证券简称：燕东微 公告编号：2025-079 北京燕东微电子股份有限公司 关于 2025 年三季度计提资产减值准备的公告 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。 一、本次计提资产减值准备的情况 结合北京燕东微电子股份有限公司（以下简称"公司"）的实际经营情况及行 业市场变化等因素的影响，根据《企业会计准则第 22 号——金融工具确认和计 量》《企业会计准则第 8 号—资产减值》及相关会计政策规定，为客观、公允地 反映公司截至 2025 年 9 月 30 日的财务状况及 2025 年前三季度的经营成果，经 公司及所属子公司对各项金融资产、存货和长期资产等进行全面充分的评估和分 析，认为部分资产存在一定的减值迹象。预计 2025 年前三季度计提减值准备金 额为 16,734.55 万元，具体情况如下： 二、2025 年前三季度计提资产减值准备事项的具体说明 （一）信用减值损失 公司以预期信用损失为基础，对应收票据、应收账款、其他应收款进行减值 测试并确认损失准备。经测试，2025 年前三季度计提信用 ...

证券代码：688172 证券简称：燕东微 公告编号：2025-080 北京燕东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 26 日（星期三）上午 11:00-12:00 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：上证路演中心线上文字互动 投资者可于 2025 年 11 月 19 日 （星期三） 至 11 月 25 日 （星期二） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 bso@ydme.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 北京燕东微电子股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日在上海证券交易所网站（www.sse.com.cn）披露了公司 2025 年第三季度报告。 为便于广大投资 ...

Core Viewpoint - Yandong Microelectronics has shown significant stock price growth this year, with a notable increase in trading activity and positive financial performance indicators [1][2][3]. Group 1: Stock Performance - As of October 29, Yandong Microelectronics' stock price increased by 2.27%, reaching 27.08 CNY per share, with a total market capitalization of 38.66 billion CNY [1]. - The stock has risen 35.06% year-to-date, with a 7.46% increase over the last five trading days, 18.82% over the last 20 days, and 34.73% over the last 60 days [2]. Group 2: Trading Activity - The net inflow of main funds was 7.74 million CNY, with large orders accounting for 23.48% of total buying and 17.72% of total selling [1]. - Yandong Microelectronics appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on October 9, where it recorded a net buy of -62.58 million CNY [2]. Group 3: Financial Performance - For the first half of 2025, Yandong Microelectronics reported a revenue of 659 million CNY, representing a year-on-year growth of 6.85%, and a net profit attributable to shareholders of 128 million CNY, reflecting a substantial increase of 943.17% [3]. - The company has distributed a total of 47.96 million CNY in dividends since its A-share listing [4]. Group 4: Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 2.43% to 17,000, while the average circulating shares per person increased by 2.49% to 34,345 shares [3]. - Among the top ten circulating shareholders, the Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF holds 5.70 million shares, an increase of 542,500 shares compared to the previous period [4].

Policy - The Ministry of Science and Technology emphasizes the need to strengthen the top-level design and systematic deployment of artificial intelligence during the 14th Five-Year Plan, focusing on developing new model algorithms and high-performance computing chips [1] - The Fourth Plenary Session of the Central Committee highlights the importance of cultivating and expanding emerging and future industries, aiming to build a modern industrial system and strengthen the foundation of the real economy [1] Industry Growth - In Shanghai, the manufacturing output of the three leading industries increased by 8.5% year-on-year in the first three quarters, with artificial intelligence manufacturing growing by 12.8% [2] - The total output value of strategic emerging industries in Shanghai's manufacturing sector rose by 7.3%, with the new energy industry growing by 19.6% [2] Regional Initiatives - Guangdong Province has launched an action plan to support high-quality development in manufacturing through artificial intelligence, including the establishment of an industrial model evaluation system and financial support for enterprises [3] - Zhejiang Province aims for over 90% penetration of intelligent applications by 2030, with plans to develop leading intelligent platforms and high-value scenarios [3] IPO and Financing - Domestic GPU manufacturer Muxi Co., Ltd. has received approval for its IPO, aiming to raise 3.904 billion yuan for various AI-related projects [5] - Robotics company Leju Robotics completed a 1.5 billion yuan Pre-IPO financing round, with plans for an upcoming IPO [5] - New Stone Technology announced over 600 million USD in Series D financing, led by UAE-based investors [6] - Eagle Semiconductor completed over 700 million yuan in Series B+ financing, setting a record for VCSEL startups in China [7] - Jiushi Intelligent raised 100 million USD in Series B4 financing, led by Ant Group [8] - Zhongzhi Keyi completed over 100 million yuan in Series A financing, focusing on fast imaging technology [9] - Renxin Technology raised over 100 million yuan in Series A+ financing for automotive chip production [10] - Suzhou Xien Technology completed several hundred million yuan in Pre-A+ financing, focusing on servo systems and chips [11] Market Movements - Hu Silicon Industry announced plans for a share reduction of up to 2% by its largest shareholder, the National Integrated Circuit Industry Investment Fund [12] - Tailin Micro plans to reduce its shares by up to 2% due to operational needs [13] - Lixin Micro's major shareholder intends to reduce its stake by up to 3% [14] - Yandong Micro reported a 1% reduction in shares by the National Integrated Circuit Fund [15] - Cambrian announced a specific issuance of shares to raise approximately 3.985 billion yuan [16] - Shunwei Storage is accelerating the expansion of its advanced packaging and testing center to enhance competitiveness [16]

Core Viewpoint - The optical communication module sector is leading the market with a rise of 6.26%, indicating strong investor interest and potential growth in this industry [2] Company Performance - Zhongji Xuchuang saw a significant increase of 11.37% in its stock price, reflecting positive market sentiment towards the company [2] - Dongtianwei experienced a rise of 10.47%, suggesting strong performance and investor confidence [2] - Changxin Bochuan's stock increased by 10.24%, indicating robust growth potential [2] - Other companies such as Huilv Ecology, Yandongwei, and Qiangda Circuit also saw gains exceeding 7%, highlighting a broader positive trend in the sector [2]

Core Viewpoint - The AI Fund Yongying State-Owned Enterprise Opportunity Selection Mixed Fund A (023824) reported a profit of 886,700 yuan for Q3 2025, with a weighted average profit per fund share of 0.0105 yuan, indicating a net value growth rate of 1.05% during the reporting period [3]. Fund Performance - As of the end of Q3 2025, the fund's scale was 84.97 million yuan, with a unit net value of 0.975 yuan as of October 21 [3]. - The fund manager, Wang Wenlong, currently manages three funds [3]. Investment Strategy - The fund's investment strategy focuses on "valuation reconstruction + growth breakthrough," with three main areas of emphasis: 1. High-quality state-owned enterprises undergoing asset integration and upgrades, particularly those with opportunities for value reassessment through asset injection [3]. 2. Technology innovation-driven state-owned enterprises, focusing on leading stocks with attributes of industrial chain leaders in new productivity directions [3]. 3. Stable holding positions in core assets [3]. Top Holdings - As of the end of Q3 2025, the fund's top ten holdings included: 1. Dongli New Science 2. Yandong Micro 3. Northern Huachuang 4. Kaipu Cloud 5. Huahong Semiconductor 6. AVIC Shenyang Aircraft 7. Shanda Diwei 8. Guodun Quantum 9. Zhongke Shuguang 10. GF Securities [3].