翱捷科技股份有限公司 关于 2025 年度"提质增效重回报"专项行动方案的 半年度评估报告 为积极践行"以投资者为本"的上市公司发展理念，响应上海证券交易所《关 于开展沪市公司"提质增效重回报"专项行动的倡议》，翱捷科技股份有限公司 （以下简称"公司"）于 2025 年 4 月 8 日发布了《关于 2024 年度"提质增效重 回报"专项行动方案的评估报告暨 2025 年度"提质增效重回报"专项行动方案》 （以下简称"行动方案"）。 行动方案发布后，公司积极落实、执行该行动方案，取得良好成效。公司于 2025 年 8 月 27 日召开第二届董事会第十七次会议审议通过了《关于 2025 年度 "提质增效重回报"专项行动方案的半年度评估报告的议案》。 2025 年上半年，公司根据"提质增效重回报"行动方案内容积极开展和落 实相关工作，在聚焦主营业务、提升科技创新能力、保障投资者权益、规范公司 治理，积极进行投资者交流等方面取得了较好成效。 现对 2025 年度行动方案的半年度执行情况报告如下： 一、聚焦以蜂窝基带芯片为核心的主营业务 公司凭借在蜂窝基带芯片领域长期深耕及技术积累，产品系列日趋丰富，竞 争优势彰显同时 ...

Core Viewpoint - Aojie Technology (688220) reported a significant increase in revenue for the first half of 2025, driven by continuous chip iteration and an expanded range of application scenarios, although it faced a net loss [1] Financial Performance - The company achieved operating revenue of 1.898 billion yuan, representing a year-on-year growth of 14.67% [1] - The net profit attributable to shareholders was a loss of 245 million yuan [1] - Basic earnings per share were reported at -0.60 yuan [1] Product Development - The company’s chip products have undergone continuous iteration, enhancing their competitive advantage [1] - The sales volume of chips has significantly increased, contributing to the overall revenue growth [1]

Group 1 - The core point of the news is the significant performance of Aojie Technology-U on the STAR Market, with its stock price reaching 122.40 yuan and a trading volume of 1.976 billion yuan, indicating strong market interest [2] - As of the report, 388 stocks on the STAR Market were rising, with 23 stocks increasing by over 10%, including Aojie Technology-U, Kaipu Cloud, Nanjing New Pharmaceutical, and Lexin Technology [2] - Conversely, 196 stocks were declining, with notable drops from Jingpin Special Equipment, Rejing Biology, and Hanbang Technology, which fell by 10.36%, 9.98%, and 8.72% respectively [2] Group 2 - In terms of capital flow, Aojie Technology-U experienced a net outflow of 112 million yuan in the previous trading day, with a total net outflow of 79.3369 million yuan over the last five days [3] - The latest margin trading data shows that as of August 26, the total margin balance for Aojie Technology-U was 722 million yuan, with a financing balance of 710 million yuan, reflecting an increase of 8.0892 million yuan or 1.15% from the previous trading day [3] - The total margin balance increased by 259 million yuan over the last ten days, representing a growth of 56.02%, with financing balance growth of 57.10% and a 10.65% increase in the margin balance [3]

Market Performance - Global markets continued to rise last week, with MSCI Global up by 1.5%, MSCI Developed up by 1.5%, and MSCI Emerging up by 1.3%[3] - The US stock market's earnings expectations for 2025 were revised upward, with the S&P 500 EPS forecast increased from 268 to 269[4] Economic Expectations - Global economic expectations were adjusted upward, with the Citigroup Economic Surprise Index for the US rising due to dovish signals from the Fed[4] - The issuance of new special bonds by local governments reached 2392.7 billion CNY, a year-on-year increase of 76.7%[19] Industry Insights - In the home appliance sector, TCL Electronics reported a total revenue of 54.777 billion HKD for H1 2025, a year-on-year increase of 20.4%[15] - The gaming industry saw a record high of 166 domestic game approvals in August, with a total of 1050 approvals in the first eight months of 2025, significantly higher than the previous year's 850[31] Investment Recommendations - In the home appliance sector, recommended stocks include Stone Technology and Ecovacs for their strong performance and growth potential[14] - For the construction industry, low valuation high-dividend companies such as China State Construction and China Railway Construction are recommended due to their expected benefits from PPP policy catalysts[39]

Core Viewpoint - The news highlights the performance of the STAR Market and the launch of Huawei's new AI SSD, indicating a growing interest in AI storage solutions and the potential for investment opportunities in the tech sector [3][4]. Group 1: STAR Market Performance - As of August 26, 2025, the STAR Market 100 Index rose by 0.61%, with notable increases in constituent stocks such as Huafeng Technology (up 13.04%) and Zhuhai Guanyu (up 12.17%) [3]. - The STAR 100 Index ETF saw a 0.78% increase, marking its third consecutive rise, with a latest price of 1.3 yuan [3]. - Over the past week, the STAR 100 Index ETF accumulated a 5.49% increase, with a trading volume of 99.8865 million yuan and a turnover rate of 1.36% [3][4]. Group 2: Investment Trends and Fund Performance - The STAR 100 Index ETF experienced a net inflow of 27.3865 million yuan over the last ten trading days, despite a recent net outflow of 6.55234 million yuan [4]. - The ETF's net asset value increased by 23.84% over the past six months, ranking it 514 out of 3544 in the index stock fund category [5]. - The ETF's management fee is 0.15%, and its tracking error is 0.020%, indicating a competitive cost structure and high tracking precision compared to similar funds [5][6]. Group 3: Huawei's AI SSD Launch - Huawei is set to launch a new AI SSD on August 27, targeting the AI storage market by addressing the limitations of traditional HBM with innovative technology [3]. - The new product aims to meet the demands for large capacity and high performance in AI training and inference processes, potentially revitalizing the AI storage market [3]. - Huawei plans to collaborate with integrated machine manufacturers to enhance the current market landscape, suggesting a strategic move to increase competitiveness in the AI storage sector [3]. Group 4: Domestic Computing Power Chain - The release of DeepSeek-V3.1 is expected to boost the domestic computing power chain, with significant growth anticipated in related infrastructure due to increased capital expenditure from domestic internet companies [4]. - The focus on domestic computing power and its supporting industries, such as optical modules and switches, is projected to maintain high demand and growth in the coming years [4].

中国经济网北京8月25日讯 翱捷科技（688220.SH）今日收报109.00元，跌幅3.92%。目前该股处于 破发状态。 翱捷科技首次公开发行股票的发行费用总额为3.37亿元，其中，保荐及承销费用3.10亿元。 保荐机构相关子公司海通创新证券投资有限公司跟投的股份数量为翱捷科技本次公开发行数量的 2.00%，即83.66万股，获配金额为1.38亿元，限售期为24个月。 （责任编辑：何潇） 翱捷科技于2022年1月14日在上交所科创板上市，发行的股票数量为4183.0089万股，发行价格为 164.54元/股，保荐人（主承销商）为海通证券股份有限公司（现更名为国泰海通证券股份有限公 司），保荐代表人为王鹏程、龚思琪。 上市首日开盘即破发，翱捷科技盘中最高价报130.11元，为该股上市以来最高价。 翱捷科技首次公开发行股票募集资金总额为68.83亿元，扣除发行费用后募集资金净额为65.46亿 元。翱捷科技最终募集资金净额比原计划多41.66亿元。该公司于2022年1月10日披露的招股说明书显 示，其拟募集资金23.80亿元，拟分别用于新型通信芯片设计，智能IPC芯片设计项目，多种无线协议融 合、多场域下高精度导 ...

Group 1 - The A-share semiconductor sector experienced a significant decline in the afternoon of August 25, with multiple stocks such as Aojie Technology, Xinyuan Micro, Aisen Co., and Jingyi Equipment dropping over 5% [1] - Other companies including Zhongwei Company, Huahai Chengke, SMIC, and Baiwei Storage also saw a shift to a downward trend [1]

Core Insights - The total margin balance of the Sci-Tech Innovation Board reached 202.642 billion yuan on August 21, increasing by 0.0513 billion yuan from the previous trading day [1] - The financing balance amounted to 201.981 billion yuan, up by 0.0498 billion yuan, while the securities lending balance was 0.0661 billion yuan, rising by 0.0015 billion yuan [1] Individual Stock Performance - On August 21, 322 stocks on the Sci-Tech Innovation Board experienced net financing inflows, with 18 stocks having net inflows exceeding 30 million yuan [1] - Cambricon Technologies led the net financing inflow with an amount of 0.278 billion yuan, followed by companies like Zhongwei Company, Baiwei Storage, Xiamen Tungsten New Energy, Tianyue Advanced, and Aojie Technology, each with net inflows exceeding 50 million yuan [1]

Group 1 - The semiconductor stocks in the A-share market have collectively strengthened, with notable gains in several companies [1] - Aojie Technology saw an increase of over 13%, while Shengke Communication rose nearly 10% [1] - Weicai Technology increased by 8%, and Zhaoyi Innovation rose by over 6% [1] Group 2 - The following companies reported significant price increases: - Aojie Technology (13.39%) with a total market value of 48.5 billion and a year-to-date increase of 114.24% [2] - Shengke Communication (9.93%) with a market value of 50 billion and a year-to-date increase of 45.26% [2] - Weicai Technology (8.01%) with a market value of 11.5 billion and a year-to-date increase of 72.61% [2] - Zhaoyi Innovation (6.76%) with a market value of 90 billion and a year-to-date increase of 27.32% [2] - Other companies like Canxin Technology, Xinyuan Technology, and Yutai Micro also reported increases of over 5% [1]

Core Viewpoint - The article highlights the recent implementation of the "AI + Manufacturing" initiative in Shanghai, aiming to integrate artificial intelligence into various manufacturing sectors to enhance productivity and innovation [1][2]. Group 1: Policy Implementation - On August 19, Shanghai released the "Implementation Plan for Accelerating the Development of AI + Manufacturing," focusing on deep integration of AI technology with manufacturing [2]. - The plan aims to elevate the level of intelligent development in manufacturing over three years, targeting 3,000 enterprises for smart applications and establishing 10 industry benchmark models [2][3]. Group 2: Industry Focus - Key industries targeted include integrated circuits, electronic information, automotive, high-end equipment, shipbuilding, aerospace, advanced materials, steel, fashion consumer goods, and pharmaceutical manufacturing [1][3]. - The initiative promotes the development of specialized AI models for specific sectors and encourages the application of AI in various manufacturing processes, such as chip design and production efficiency [3][4]. Group 3: Technological Advancements - The plan emphasizes the creation of an industrial intelligent computing cloud platform to support enterprises in their transformation and upgrade processes [3]. - It includes the development of AI applications in robotics, drug research, and automated production lines to enhance operational efficiency and safety [4][5]. Group 4: Market Trends - The article notes a significant increase in the consumption of tokens in AI applications, with a growth of over 300 times in just one and a half years, indicating rapid expansion in the AI sector [6]. - Analysts suggest that the commercialization of AI applications is expected to accelerate, particularly in AI infrastructure and vertical integration in sectors like education, taxation, and healthcare [6][7].