上海市广发律师事务所 关于上海芯导电子科技股份有限公司 发行可转换公司债券及支付现金购买资产 并募集配套资金相关股票买卖情况的 专项核查意见 电话：021-58358013|传真：021-58358012 网址：http://www.gffirm.com|电子信箱：gf@gffirm.com 办公地址：上海市浦东新区南泉北路 429 号泰康保险大厦 26 楼|邮政编码：200120 上海市广发律师事务所 关于上海芯导电子科技股份有限公司 发行可转换公司债券及支付现金购买资产 并募集配套资金相关股票买卖情况的 专项核查意见 致：上海芯导电子科技股份有限公司 上海市广发律师事务所（以下简称"本所"）接受上海芯导电子科技股份有 限公司（以下简称"芯导科技"、"公司"或"上市公司"）的委托，作为芯导 科技发行可转换公司债券及支付现金购买资产并募集配套资金事项（以下简称 "本次交易"）的专项法律顾问。本所现就本次交易相关人员及机构买卖芯导科 技股票情况进行核查并出具本专项核查意见。 本所律师履行了法定职责，遵循了勤勉尽责和诚实信用原则，保证本专项核 查意见不存在虚假记载、误导性陈述及重大遗漏。本所同意将本专项核查意见作 ...

国元证券股份有限公司 关于上海芯导电子科技股份有限公司本次交易 相关内幕知情人买卖股票情况自查报告的核查意见 上海芯导电子科技股份有限公司（以下简称"芯导科技"或"公司"）拟发 行可转换公司债券及支付现金购买盛锋、李晖、黄松、王青松合计持有的上海吉 瞬科技有限公司（以下简称"吉瞬科技"）100%的股权以及盛锋、李晖、黄松、 王青松、瞬雷优才（深圳）投资合伙企业（有限合伙）合计持有的上海瞬雷科技 有限公司（以下简称"瞬雷科技"，与吉瞬科技合称"标的公司"）17.15%的股权 并募集配套资金（以下简称"本次交易"）。本次交易完成后，公司将直接及间接 持有瞬雷科技 100%股权，实现对瞬雷科技的 100%控制。 根据《中华人民共和国证券法》《上市公司重大资产重组管理办法》《上市公 司监管指引第 7 号——上市公司重大资产重组相关股票异常交易监管》《公开发 行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》及 《监管规则适用指引——上市类第 1 号》等法律法规和规范性文件的规定，国元 证券股份有限公司（以下简称"国元证券"或"本独立财务顾问"）作为本次交 易的独立财务顾问，对本次交易相关内幕信息 ...

证券代码：688230 证券简称：芯导科技 公告编号：2026-014 上海芯导电子科技股份有限公司 关于本次交易相关主体买卖股票情况的自查报告 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个别及连带责任。 上海芯导电子科技股份有限公司（以下简称"芯导科技"或"公司"）拟发 行可转换公司债券及支付现金购买盛锋、李晖、黄松、王青松合计持有的上海吉 瞬科技有限公司（以下简称"吉瞬科技"）100%的股权以及盛锋、李晖、黄松、 王青松、瞬雷优才（深圳）投资合伙企业（有限合伙）合计持有的上海瞬雷科技 有限公司（以下简称"瞬雷科技"，与吉瞬科技合称"标的公司"）17.15%的股 权并募集配套资金（以下简称"本次交易"）。本次交易完成后，公司将直接及 间接持有瞬雷科技 100%股权，实现对瞬雷科技的 100%控制。 根据《中华人民共和国证券法》《上市公司重大资产重组管理办法》《上市 公司监管指引第 7 号——上市公司重大资产重组相关股票异常交易监管》《公开 发行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》 及《监管规则适用 ...

以下文章来源于证券之星 ，作者李若菡 公开资料显示，芯导科技主营业务为功率半导体的研发与销售，公司产品主要包括功率器件和功率IC两大类，产品可应用于消费类电子、网络通讯、 安防、工业、汽车、储能等领域。 证券之星 . 证券之星始创于1996年，是国内领先的金融信息及综合服务平台。关注证券之星，即时获取有价值的财经资讯。 来源|证券之星 作者|李若菡 近日，芯导科技(688230.SH)披露了科创板首份2025年年报，公司出现了增收不增利的情况。证券之星注意到，作为公司的营收支柱，功率器件产 品面临"量增价跌"的困境，拖累整体毛利率下滑，叠加理财收益减少等因素，公司净利润进一步承压。 同时，公司推出重组草案，其拟以现金支付及发行可转债收购瞬雷科技，并募集配套资金，但此次溢价收购对应的却是较为宽松的业绩承诺。进一步 研究发现，在计划发行可转债及定增募资的同时，芯导科技账面仍握有20亿元资金，且存在"左手分红、右手募资"的情况。 01 增收不增利，支柱业务毛利率下滑 2025年年报显示，芯导科技实现营收3.94亿元，同比增长11.52%；归母净利润为1.06亿元，同比下降4.91%，公司陷入增收不增利的情况。 证券 ...

Core Viewpoint - Chip导科技 is facing a "revenue growth without profit" dilemma, as it reported a revenue increase of 11.52% to 394 million yuan in 2025, while net profit attributable to shareholders decreased by 4.91% to 106 million yuan [1] Group 1: Financial Performance - The company's gross margin has declined for four consecutive years, reaching 32.84%, a decrease of 1.59 percentage points, primarily due to the "volume increase and price drop" in power device products, with sales volume up by 26.55% and average price down by 9.97% [3] - The non-recurring net profit increased by 17.54% to 68.89 million yuan, but the attributable net profit declined due to a drop in non-operating income, with investment income decreasing by 34.1% [3] - Operating cash flow net amount decreased by 25.91% to 62.79 million yuan, attributed to increased inventory procurement expenses [3] - In the fourth quarter, revenue increased by 4.29% year-on-year, and attributable net profit increased by 12.10%, indicating marginal improvement [3] Group 2: Major Events - Chip导科技 announced a major asset restructuring plan to acquire 100% equity of Shunlei Technology for 403 million yuan, with a high premium of 271.01% and concerns over the looseness of performance commitments [1] - The company has ample cash reserves, with monetary funds and financial investments totaling 2.07 billion yuan, raising questions about the necessity of fundraising [1] Group 3: Stock Performance - Over the past week (February 9 to February 13), Chip导科技's stock price fell by 1.88%, with a trading range of 4.74%, reaching a high of 73.19 yuan on February 9 and a low of 69.81 yuan on February 13 [2] - On February 13, the stock dropped by 2.25%, closing at 69.95 yuan, with a trading volume of 119 million yuan and a turnover rate of 1.43% [2] - There was a net outflow of 36.51 million yuan from main funds during the week, indicating increased short-term capital divergence [2]

Group 1 - The Sci-Tech Innovation Board Composite Index (Sci-Tech Index) has been operating smoothly for one year since its official release on January 20, 2025, and has become a key tool for investors to observe and share the dividends of China's new productive forces [2] - As of February 10, 2025, the Sci-Tech Index covers 580 samples with a market capitalization coverage exceeding 90%, and the weight of constituent stocks with a total market value above 10 billion yuan has increased by 15.1% since its release [2] - The index has gained recognition among investors, with a total of 49 fund managers launching 81 index funds related to the Sci-Tech Index, achieving a combined scale of 25.8 billion yuan as of February 9, 2025 [4] Group 2 - The Sci-Tech Board has gathered over 600 companies, with the latest addition being the listing of Yuhang Power on February 10, 2025, marking it as the 603rd listed company [5] - The total R&D investment of Sci-Tech Board companies reached 132.864 billion yuan in the first three quarters of 2025, which is 2.7 times the net profit of the board, with a median R&D investment ratio of 12.5% of operating income, significantly higher than other A-share sectors [5] - As of February 9, 2025, 391 companies on the Sci-Tech Board have disclosed their expected performance for 2025, with over 60% of them reporting a year-on-year increase in net profit [6] Group 3 - The integrated circuit and biopharmaceutical industries are experiencing a recovery in prosperity, with 87 companies in the integrated circuit sector expected to see a combined net profit increase of approximately 9.949 billion yuan due to demand from emerging applications like artificial intelligence [7] - In the innovative drug sector, 26 companies are projected to increase their net profit by 1.449 billion yuan in 2025, with 18 companies reporting a total revenue of 24.157 billion yuan, reflecting a year-on-year growth of 34.9% [7]

Core Insights - The Science and Technology Innovation Board (STAR Market) has welcomed a new company, Electric Science and Technology Blue Sky, bringing the total number of listed companies to 603, highlighting its role as a hub for "hard technology" enterprises in China [2] - The STAR Market Composite Index has gained significant attention, with a sample size of 580 stocks and a market capitalization coverage exceeding 90%, indicating a notable growth effect [2][3] - Nearly 60% of STAR Market companies have reported a year-on-year increase in net profit, with 39 companies experiencing a substantial growth of over 100% [3] STAR Market Overview - The STAR Market is characterized by a development pattern of "chain leader guidance and upstream-downstream collaboration," particularly in strategic emerging industries such as new-generation information technology, biomedicine, and high-end equipment manufacturing [2] - The STAR Market Composite Index has become one of the four core broad-based indices in A-shares, providing a vital tool for domestic and international investors to observe and share in the dividends of China's new productive forces [2] Performance and Growth - As of February 9, 2026, 391 companies on the STAR Market have disclosed their expected performance for 2025, with over 60% of them showing a year-on-year increase in net profit [3] - The total R&D investment of STAR Market companies reached 132.864 billion yuan in the first three quarters of 2025, which is 2.7 times the net profit of the sector, with a median R&D investment ratio of 12.5% of operating income, significantly higher than other A-share sectors [3] Reform and Development - The STAR Market has undergone three rounds of systematic reforms aimed at enhancing the inclusiveness and adaptability of the capital market, supporting various types of companies, including unprofitable and special equity structure enterprises [4] - Since the introduction of the "STAR Market Eight Articles," over 170 new merger and acquisition transactions have been recorded, totaling more than 90 billion yuan, with a transaction completion rate of nearly 70% [5] Index and Product Ecosystem - The STAR Market Composite Index has shown a steady upward trend since its launch, with an increase of approximately 63% as of February 10, 2026 [6] - A complete product chain has been established, including ETFs, linked funds, and enhanced products, with 49 fund managers launching a total of 81 STAR Market Composite Index funds, achieving a combined scale of 25.8 billion yuan [6]

上海芯导电子科技股份有限公司 2025 年年度股东会会议资料 证券代码：688230 证券简称：芯导科技 上海芯导电子科技股份有限公司 2025 年年度股东会会议资料 2026 年 2 月 | | | | 条及《重组审核规则》第八条规定的议案 42 | | --- | 上海芯导电子科技股份有限公司 2025 年年度股东会会议资料 | 议案十九：关于本次交易符合《上市公司向特定对象发行可转换公司债券购买资产 | | --- | | 规则》第四条规定的议案 45 | | 议案二十：关于本次交易相关的标的公司经审计的财务报告、评估报告及上市公司 | | 经审阅的备考财务报告的议案 46 | | 议案二十一：关于评估机构的独立性、评估假设前提的合理性、评估方法和评估目 | | 的的相关性以及评估定价的公允性的议案 47 | | 议案二十二：关于本次交易定价的依据及公平合理性的议案 49 | | 议案二十三：关于本次交易是否存在直接或间接有偿聘请其他第三方机构或个人的 | | 议案 50 | | 议案二十四：关于本次交易信息公布前公司股票价格波动情况的议案 51 | | 议案二十五：关于本次交易前十二个月内公司购买、出 ...

Core Viewpoint - The acquisition by Chipway Technology in the power semiconductor industry has attracted significant attention due to its unique financing structure involving cash and convertible bonds, despite the company holding substantial liquid assets [1][2]. Group 1: Acquisition Details - Chipway Technology plans to acquire 100% equity of Jishun Technology and 17.15% equity of Shunlei Technology for a total transaction price of 403 million yuan, with approximately 127 million yuan in cash and 276 million yuan in convertible bonds [1][2]. - The company intends to raise up to 50 million yuan through a private placement to no more than 35 specific investors as part of the financing for this acquisition [1]. Group 2: Financial Position and Market Reaction - As of the end of Q3 2025, Chipway Technology holds trading financial assets amounting to 1.936 billion yuan and cash equivalents of 114 million yuan, totaling over 2 billion yuan in broad money [1]. - The decision to issue convertible bonds for a transaction of 403 million yuan raises questions in the market, especially given the company's substantial cash reserves [2]. Group 3: Performance and Future Projections - Chipway Technology's performance has been volatile, with a 10.89% year-on-year decline in net profit attributable to shareholders in the first three quarters of 2025 [3]. - If the acquired company meets its profit commitments, it could contribute at least 35 million yuan to Chipway Technology's net profit in 2025, representing approximately 31% of the company's projected net profit for 2024 [3]. - The target company, Shunlei Technology, specializes in the research, production, and sales of power devices, with projected revenue of 217 million yuan and a net profit of 38.79 million yuan for 2024 [2].

Core Viewpoint - The company, Chipway Technology, reported its 2025 annual results, showing a slight decline in net profit but significant growth in non-recurring net profit, alongside plans for a major asset restructuring to enhance its competitive position in the power semiconductor sector [1][2]. Financial Performance - The company achieved an operating revenue of 394 million yuan, marking a consecutive increase [1][2]. - The net profit attributable to shareholders was 106 million yuan, a year-on-year decrease of 4.91% [1][2]. - The non-recurring net profit reached 68.89 million yuan, reflecting a year-on-year growth of 17.54%, the highest in nearly four years [1][2]. - The comprehensive gross margin was 32.84%, down 1.59 percentage points year-on-year [3]. Product Performance - The company's main products, including TVS, MOSFET, and Schottky diodes, saw a decline in gross margins, with respective rates of 32.58%, 34.85%, and 33.29%, down 2.53, 6.07, and 1.89 percentage points [3]. - The gross margin for power ICs increased by 11.47 percentage points to 29.75%, although its revenue contribution is relatively small [3]. Dividend Distribution - The company proposed a cash dividend of 4.30 yuan per 10 shares, totaling 50.568 million yuan, which represents 47.64% of the net profit attributable to shareholders [3]. Strategic Acquisition - The company plans to acquire 100% of Jishun Technology and 17.15% of Shunlei Technology for a total consideration of 403 million yuan, funded through convertible bonds and cash [4][5]. - The acquisition aims to leverage the target companies' technology and customer resources to strengthen the company's core competitiveness in the power semiconductor field [4][5]. Future Projections - The acquired companies are expected to contribute to a projected operating revenue of 633 million yuan in 2025, a 60.88% increase, and a net profit of 155 million yuan, reflecting a 45.76% growth [5]. - The transaction is anticipated to facilitate a strategic shift from a Fabless to a Fab-lite model, enhancing supply chain management and expanding into high-end application areas such as automotive electronics and industrial control [5].