证券日报网讯2月6日，翱捷科技在互动平台回答投资者提问时表示，公司在定制业务方面项目技术复杂 度较高，交付周期较长，很多项目超过一个会计年度，这使得当期在手订单金额与当期可确认收入金额 存在较大差异，为避免误导投资者决策，公司选择在当前阶段不披露在手订单的金额，而是对年度收入 预期进行相关指引。即便如此，由于一些地缘政治、技术封锁升级或者项目本身的研发风险，该预期指 引也会存在一定的不确定性，所以公司在给出预期指引的同时也会提示投资风险。 ...

证券日报网讯2月6日，翱捷科技在互动平台回答投资者提问时表示，公司严格遵守信息披露的相关规 定，履行信息披露义务，不存在应披露未披露事宜。对于达到披露标准的重大合同，公司届时将严格按 照法律法规的规定及时履行信息披露义务。 ...

（文章来源：证券日报） 证券日报网讯 2月6日，翱捷科技在互动平台回答投资者提问时表示，目前公司员工总数超过1200人， 其中研发人员占比接近90%。 ...

证券日报网讯2月6日，翱捷科技在互动平台回答投资者提问时表示，每家公司都有自己的经营发展战 略。公司自创立以来，始终深耕蜂窝基带领域，未来，还将在该领域持续进行研发投入，以提升竞争实 力，争取更大的市场份额。在资源分配方面，公司会结合市场变化及各产品线发展情况进行调整。就芯 片定制业务，本身就是公司的主营业务之一，已经获得大量资源投入。 ...

证券日报网讯 2月6日，翱捷科技在互动平台回答投资者提问时表示，公司第一颗5G智能SoC芯片正在 测试中，目前5G实网电话已打通，其他各项仪表测试顺利。 （文章来源：证券日报） ...

Investment Rating - The industry investment rating is maintained as "Positive" [4] Core Insights - The demand for AI computing power is driving a persistent shortage in storage [2][8] - Major storage companies are experiencing strong performance, with AI demand expected to continue creating incremental opportunities [6] - The supply of niche storage is under pressure from mainstream storage, leading to a sustained tight supply situation [7] Summary by Sections Investment Recommendations and Targets - Key investment targets include domestic storage chip design companies such as Zhaoyi Innovation, Puran, Jucheng, Dongxin, Beijing Junzheng, and Hengsuo [2][8] - Domestic storage module manufacturers like Jiangbolong, Demingli, and Baiwei Storage are also highlighted [2] - Companies benefiting from storage technology iterations include Lanke Technology, Lianyun Technology, and Aojie Technology [2] - Semiconductor equipment firms such as Zhongwei Company, Jingzhida, and Beifang Huachuang are recommended [2] - Domestic packaging and testing companies like Shentek, Huicheng, and Tongfu Microelectronics are included in the investment targets [2] Market Dynamics - TrendForce has revised upward the price growth rates for DRAM and NAND Flash products for the first quarter, with DRAM contract prices expected to rise by 90-95% and NAND Flash by 55-60% [7] - AI computing demand is becoming the dominant factor in storage demand, with significant price increases anticipated for Server DRAM and Enterprise SSDs [7] - The AI inference process is expected to significantly alter data center storage structures, leading to increased demand for active data storage [7] Niche Storage Supply - Niche storage products like NOR Flash and MLC/SLC NAND Flash are expected to remain in tight supply due to reduced production from major suppliers focusing on mainstream products [7] - The global capacity for MLC NAND Flash is projected to decrease by 41.7% in 2026 due to supply constraints [7]

Core Viewpoint - Aojie Technology (688220.SH) has experienced a significant decline in stock price, closing at 81.67 yuan with a drop of 7.92%, currently in a state of underperformance [1] Group 1: Company Overview - Aojie Technology was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on January 14, 2022, with an initial stock issuance of 41.83 million shares at a price of 164.54 yuan per share [1] - The company raised a total of 6.883 billion yuan through its initial public offering (IPO), with a net amount of 6.546 billion yuan after deducting issuance costs, exceeding the original plan by 4.166 billion yuan [2] Group 2: Fund Utilization - The funds raised are intended for various projects, including the design of new communication chips, smart IPC chip design, integration of multiple wireless protocols, high-precision navigation solutions, research center construction, and working capital supplementation [2] Group 3: Financial Details - The total issuance costs for Aojie Technology's IPO amounted to 337 million yuan, with underwriting and sponsorship fees accounting for 310 million yuan [3]

证券代码：688220 证券简称：翱捷科技 公告编号：2026-002 翱捷科技股份有限公司 关于全资子公司参与投资私募基金管理人暨关联 交易的公告 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： 投资标的名称：上海浦东海望私募基金管理有限公司（以下简称"海望资 本"）。 （一）关联交易的基本概况 审议情况：本次交易已经第二届董事会独立董事专门会议2026年第一次 会议、第二届董事会第十九次会议审议通过，关联董事黄晨已回避表决，本事项 无需提交公司股东会审议。 相关风险提示： 受宏观经济环境、产业发展情况、市场需求变化、企业经营管理等多方面因 素的影响，海望资本未来经营和收益情况存在不确定性，公司对外投资收益可能 存在不及预期的风险。 本次对外投资概述：公司全资子公司翱捷智能拟以人民币1045万元实施 本次对外投资，其中：245万元用于受让上海海鋆创企业管理咨询合伙企业（有 限合伙）（以下简称"海鋆创合伙"）持有的海望资本10%的股权（对应注册资本 为1000万元，其中200万元已完成实缴）；800万元按照海望 ...

Core Viewpoint - Aojie Technology (688220.SH) announced an investment in Haiwang Capital, which was established on December 31, 2020, and registered as a private equity/venture capital fund manager on May 28, 2021, managing nearly 20 billion RMB in assets [1][2] Group 1: Investment Details - Aojie Intelligent, a wholly-owned subsidiary of the company, plans to invest 10.45 million RMB in Haiwang Capital, with 2.45 million RMB allocated for acquiring 10% equity held by Haiyun Chuanghe [1] - The remaining 8 million RMB will be used to fulfill future capital contribution obligations as per Haiwang Capital's articles of association [1] Group 2: Shareholding Structure - Shanghai Pudong Science and Technology Group Co., Ltd. holds 49% of Haiwang Capital's registered capital and is a shareholder of Aojie Technology, owning 604,731 shares, which represents 0.14% of the company [2] - Pudong Science and Technology, along with two other shareholders, collectively holds 31,833,531 shares, amounting to a total ownership of 7.61% in Aojie Technology [2]

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry [5] Core Insights - The ongoing shortage of niche storage is expected to continue, with AI demand opening up incremental growth opportunities [2][8] - AI demand is anticipated to drive the need for niche storage, particularly in applications such as automotive, industrial, and security [7] - Domestic manufacturers are positioned competitively in the niche storage market and are likely to benefit from the supply constraints caused by international suppliers exiting this segment [7] Summary by Sections Investment Recommendations and Targets - Key investment targets include domestic storage chip design companies such as Zhaoyi Innovation, Puran, Jucheng, Dongxin, Beijing Junzheng, and Hengshuo [3][8] - Other relevant companies include domestic storage module manufacturers like Jiangbolong, Demingli, and Baiwei Storage, as well as semiconductor equipment firms such as Zhongwei, Jingzhida, and Beifang Huachuang [3][8] - Companies benefiting from storage technology iterations include Lanke Technology, Lianyun Technology, and Aojie Technology [3][8] Market Dynamics - The supply of niche storage products is being significantly reduced as major international suppliers focus on mainstream storage products, leading to a substantial contraction in supply [7] - For instance, the global MLC NAND Flash capacity is projected to decrease by 41.7% in 2026 due to supply shrinkage, which is expected to drive prices significantly higher [7] - Domestic firms are gaining market share in niche storage, with Zhaoyi Innovation holding approximately 18.5% of the NOR Flash market in 2024, ranking second globally [7]