Core Insights - Guoxin Technology reported a 34.7% decline in revenue to 170.58 million yuan for the first half of 2025, with a loss of 86.41 million yuan, but positive signals for future growth are evident in financial metrics and business developments [1][2][3] Financial Performance - Revenue decline primarily attributed to a drop in custom chip service income, impacted by external factors leading to longer production cycles [1] - The company has seen a 52.79% year-on-year increase in contract liabilities to 967 million yuan, indicating a potential increase in custom product deliveries in the future [1] - Operating cash flow turned positive, improving from a negative 19.74 million yuan to 52.54 million yuan year-on-year, signaling significant cash flow improvement [1][2] Research and Development - R&D expenses reached 153 million yuan in the first half, a 6.4% increase year-on-year, with Q2 expenses rising by 11.48% to 80.70 million yuan [2] - Continuous investment in R&D has enhanced product competitiveness, reflected in a 16.61 percentage point increase in gross margin to 36.82% [2] Business Segments - The automotive electronics chip segment saw a remarkable 63.81% revenue increase to 49.15 million yuan, with cumulative shipments reaching 17 million units, indicating strong acceptance by OEMs [3] - In the cloud security and data center sector, the company successfully developed a high-performance cloud security chip based on RISC-V architecture, achieving industry-leading standards [3] - The company is at the forefront of quantum-resistant technology, having developed the AHC001 quantum-resistant chip and successfully tested the CCUPHPQ01 quantum-resistant card [3] Strategic Outlook - The half-year report reflects a transformation phase for Guoxin Technology, with improving supply chain conditions and enhanced cash flow signaling positive future performance [3] - Continued growth in the automotive electronics chip business and ongoing technological breakthroughs in cloud security and quantum resistance are expected to strengthen the company's long-term competitive position [3]

Group 1 - The core viewpoint of the news highlights the recent performance and financial metrics of Guoxin Technology, including stock price movements and trading volumes [1][2] - On August 27, Guoxin Technology's stock fell by 2.70%, with a trading volume of 739 million yuan. The net financing buy was -14.07 million yuan, indicating a higher level of financing activity compared to the past year [1] - As of August 27, the total margin balance for Guoxin Technology was 391 million yuan, with financing balance accounting for 3.83% of the circulating market value, which is above the 70th percentile of the past year [1] Group 2 - As of June 30, the number of shareholders for Guoxin Technology was 26,600, a decrease of 3.37% from the previous period, while the average circulating shares per person increased by 3.49% to 9,942 shares [2] - For the first half of 2025, Guoxin Technology reported a revenue of 171 million yuan, a year-on-year decrease of 34.74%, and a net profit attributable to shareholders of -86.41 million yuan, down 4.66% year-on-year [2] Group 3 - Guoxin Technology has distributed a total of 120 million yuan in dividends since its A-share listing, with cumulative dividends of approximately 59.99 million yuan over the past three years [3]

Core Viewpoint - Guoxin Technology (688262) reported disappointing financial results for the first half of 2025, with significant declines in revenue and net profit, while showing improvements in gross margin and operating cash flow [1][3]. Financial Performance - Total revenue for the first half of 2025 was 171 million yuan, a decrease of 34.74% year-on-year [1]. - Net profit attributable to shareholders was -86.41 million yuan, down 4.66% year-on-year [1]. - In Q2 2025, total revenue was 83.31 million yuan, a slight increase of 0.57% year-on-year, while net profit was -51.66 million yuan, a decline of 42.66% year-on-year [1]. - Gross margin improved to 36.82%, an increase of 82.19% year-on-year, while net margin was -50.66%, a decrease of 60.39% year-on-year [1]. - Total expenses (selling, administrative, and financial) accounted for 29.13% of revenue, up 76.72% year-on-year [1]. - Cash flow per share was 0.16 yuan, a significant increase of 366.1% year-on-year [1]. Investment Returns - The company's historical median Return on Invested Capital (ROIC) is 1.49%, indicating average investment returns, with the worst year being 2024 at -7.64% [3]. - The company has reported losses in three out of its six years since going public, suggesting a fragile business model [3]. Cash Flow and Financial Health - The cash flow situation is concerning, with cash and cash equivalents covering only 65.53% of current liabilities [3]. - The average net cash flow from operating activities over the past three years has been negative [3]. Research and Development - Guoxin Technology is actively engaged in the development of quantum-resistant cryptography technologies, focusing on five algorithms based on lattice, hash, and coding principles [4][5]. - The company has completed hardware designs for three quantum-resistant algorithm modules and has filed patents related to these designs [5]. - The HC001 chip, developed in collaboration with Xinda Yi, is a low-power quantum-resistant cryptography chip based on a domestic 28nm process [6]. - The company has also developed the CCUPHPQ01 quantum-resistant cryptography card, which integrates both quantum-resistant and traditional cryptographic algorithms [7][8]. Market Position - The largest fund holding Guoxin Technology shares is the China Merchants CSI 1000 Index Enhanced A, which has seen a significant increase in value over the past year [4].

Core Viewpoint - The announcement details the share reduction plans of major shareholders of Suzhou Guoxin Technology Co., Ltd., including the National Integrated Circuit Industry Investment Fund and Ningbo Qiyue Venture Capital, due to fund exits, with specific timelines and quantities outlined for the planned reductions [1][2][4]. Shareholder Holdings - The National Integrated Circuit Industry Investment Fund holds 13,004,645 shares, representing 3.87% of the total shares [2][3]. - Ningbo Qiyue Venture Capital holds 22,149,387 shares, representing 6.59% of the total shares [3]. - Ningbo Jiaxin Jiahe Venture Capital holds 6,302,552 shares, representing 1.88% of the total shares [3]. - Other shareholders, including Sun Lisheng and Yang Zhiying, hold 7,457,894 shares (2.22%) and 932,363 shares (0.28%) respectively [3]. Reduction Plans - The National Integrated Circuit Industry Investment Fund plans to reduce up to 10,079,997 shares, which is 3% of its holdings, through market transactions over a period starting from three trading days after the announcement [4][6]. - Ningbo Qiyue Venture Capital plans to reduce up to 5,228,428 shares, which is 1.56% of its holdings, also through market transactions starting from 15 trading days after the announcement [4][6]. - Ningbo Jiaxin Jiahe Venture Capital plans to reduce up to 1,491,570 shares, which is 0.44% of its holdings, through market transactions starting from 15 trading days after the announcement [4][6]. Compliance and Regulations - The shareholders have committed to comply with relevant regulations regarding share reductions, including prior announcements and adherence to market rules [7][8]. - The reduction plans are in accordance with the guidelines set by the China Securities Regulatory Commission and the Shanghai Stock Exchange [5][6].

Summary of Guoxin Technology Conference Call Company Overview - **Company**: Guoxin Technology - **Industry**: Automotive Electronics and Information Security Financial Performance - **Revenue**: In the first half of 2025, Guoxin Technology reported revenue of 38.5 million yuan, a year-on-year decrease of 34.74% [2][3] - **Net Profit**: The net profit attributable to shareholders was -86.41 million yuan, an increase in loss of 3.85 million yuan compared to the previous year [3] - **Non-recurring Profit**: The net profit after excluding non-recurring items was -97.2 million yuan, worsening by 11 million yuan year-on-year [3] - **Gross Margin**: The overall gross margin reached 36.8%, an increase of 16.61 percentage points year-on-year [2][3] - **Contract Liabilities**: Contract liabilities amounted to 967 million yuan, a year-on-year increase of 37.56% [2][3] - **Operating Cash Flow**: Operating cash flow turned positive at 52.54 million yuan, compared to -19.74 million yuan last year [2][3] - **Inventory**: Inventory levels decreased year-on-year, indicating improved inventory management [2][3] Business Segments Automotive Electronics - **Revenue Growth**: Automotive electronics chip business revenue was 49.15 million yuan, a year-on-year increase of 63.81%, becoming the main growth driver [2][3] - **Product Lines**: The company has deepened its layout across 12 product lines, including domain control chips, driver assistance processing chips, and battery management chips [5][17] - **Partnerships**: Collaborations established with major manufacturers such as BYD, Chery, and Geely, as well as Tier One suppliers like ADITEK [5][17] - **Future Goals**: Aiming for at least 10% market share in the global automotive electronics chip market by 2030, targeting a market size of 75 to 90 billion USD [17][18] Information Security - **Revenue**: The information security business generated 80.74 million yuan, a slight increase of 0.33% year-on-year [3] - **Product Development**: Launched high-performance cloud security ICs with integrated neural network processing units, achieving operational speeds of 1 million operations and symmetric algorithm performance of 80 Gbps [6][7] - **Quantum Resistance**: Developed a 28nm reconfigurable low-power quantum-resistant algorithm chip in collaboration with Zhengzhou Xinda, supporting multiple algorithms and mainstream platforms [7][13] Artificial Intelligence - **AI Chip Development**: Introduced multiple AI MCU chips for smart appliances, with the CN200 series NPU core being optimized for AI PC and edge applications, achieving single-core performance of 8 TOPS [4][9] - **Revenue Challenges**: Custom AI business faced revenue decline due to production delivery issues, but improvements in the supply chain are expected to enhance delivery in the second half of the year [9][10] Market Outlook - **Order Growth**: Anticipated new orders in the second half of the year, supported by a strong contract liability position of 967 million yuan [12][21] - **Profitability Improvement**: Focus on improving gross margins and overall profitability throughout the year [11][21] - **Competitive Landscape**: Competing against major players like ADI and AKM in the automotive DSP market, with plans to achieve mass production of DSP chips [19][20] Strategic Initiatives - **R&D Investment**: Continued investment in R&D for automotive electronics, particularly in MCU and DSP segments, to enhance product offerings and market share [18][20] - **Market Positioning**: Aiming to replace foreign brands with domestic products, leveraging the growing demand for autonomous chips in the domestic market [20]

Group 1 - Zhonghong Medical's general manager Yang Hao plans to increase his holdings by no less than 50,000 shares [2] - 21 A-share listed companies disclosed share reduction situations, including Keda Intelligent, Weining Health, Jingyan Technology, Guoxin Technology, and others [1][2] - Keda Intelligent's actual controller Huang Mingsong cumulatively reduced his holdings by 4.5 million shares from August 26 to 27 [2] Group 2 - Weining Health's directors and senior management personnel Wang Tao and Wang Li plan to reduce their holdings [2] - Guoxin Technology's shareholders, including the National Integrated Circuit Industry Investment Fund, plan to reduce their holdings by no more than 5% [2] - Jingyan Technology's shareholder Shen Juanhua intends to reduce his holdings by no more than 0.89% [2] Group 3 - Yalian Development's shareholder Qian Dezhen plans to reduce his holdings by no more than 2% [2] - Hangzhou Garden's shareholders plan to reduce their holdings by no more than 3% [2] - Dongxin Co., Ltd.'s controlling shareholder and its concerted actors' shareholding ratio will decrease to 37.47% [2] Group 4 - Miaokelando's vice chairman and general manager Chai Xiu plans to reduce his holdings by no more than 1.95% [2] - Fudan Zhangjiang's shareholder Wang Haibo plans to reduce his holdings by no more than 0.01% [2] - Haohan Deep's Feng Yanjun plans to reduce his holdings by no more than 72,000 shares [2] Group 5 - Zhejiang University Network's shareholder intends to reduce his holdings by no more than 0.97% [2] - Youfa Group's executive Han Deheng plans to reduce his holdings by no more than 0.27% [2]

Core Viewpoint - On August 27, a total of 21 A-share listed companies disclosed their shareholding reduction situations, while Zhonghong Medical announced an increase in shareholding by its general manager [1][2]. Group 1: Shareholding Increase - Zhonghong Medical's general manager, Yang Hao, plans to increase his holdings by no less than 50,000 shares [2]. Group 2: Shareholding Reduction - Keda Intelligent's actual controller, Huang Mingsong, cumulatively reduced his holdings by 4.5 million shares from August 26 to 27 [2]. - Wei Ning Health's directors and senior management, Wang Tao and Wang Li, plan to reduce their shareholdings [2]. - Guoxin Technology's shareholders, including the National Integrated Circuit Industry Investment Fund, plan to collectively reduce their holdings by no more than 5% [2]. - Jingyan Technology's shareholder, Shi Juanhua, intends to reduce his holdings by no more than 0.89% [2]. - Yalian Development's shareholder, Qian Dezhen, plans to reduce his holdings by no more than 2% [2]. - New Network's shareholders, Hongta Innovation and Sun Xiujie, plan to reduce their holdings by no more than 2% [2]. - Hangzhou Garden's shareholders plan to reduce their holdings by no more than 3% [2]. - Dongxin Technology's controlling shareholder and its concerted actors will see their shareholding ratio drop to 37.47% [2]. - Miaokelando's vice chairman and general manager, Chai Zhuo, plans to reduce his holdings by no more than 1.95% [2]. - Fudan Zhangjiang's shareholder, Wang Haibo, plans to reduce his holdings by no more than 0.01% [2]. - Kangchen Pharmaceutical's executive, Niu Zhanqi, plans to reduce his holdings by no more than 87,500 shares [2]. - Fulaite's controlling shareholder and directors intend to collectively reduce their holdings by no more than 2.1333% [2]. - Hehui Optoelectronics' Shanghai Integrated Circuit Industry Investment Fund plans to reduce its holdings by no more than 2% [2]. - Cambridge Technology's controlling shareholder reduced his holdings by 1.8 million shares [2]. - Tuojing Technology's directors and supervisors plan to collectively reduce their holdings by no more than 0.0522% [2]. - Hongxing Development's senior management, Liu Zhengtai, plans to reduce his holdings by no more than 15,300 shares [2]. - Su Bian Electric's executive, Li Daiping, plans to reduce his holdings by no more than 0.03% [2]. - Haohan Depth's Feng Yanjun plans to reduce his holdings by no more than 72,000 shares [2]. - Zhejiang University Network's shareholder, Wangxin Group, plans to reduce its holdings by no more than 0.97% [2]. - Youfa Group's executive, Han Deheng, plans to reduce his holdings by no more than 0.27% [2]. - Hengyin Technology's Wang Shuqin plans to reduce his holdings by no more than 15,615,600 shares [2].

证券代码：688262 证券简称：国芯科技 公告编号：2025-061 苏州国芯科技股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 股东持有股份的基本情况 国家集成电路产业投资基金股份有限公司（以下简称"产业基金"）、 宁波麒越创业投资合伙企业（有限合伙）（以下简称"麒越创投"）等股东 及一致行动人共计持有公司 49,846,841 股股份，合计占公司总股本比例为 14.84%，产业基金不存在一致行动人关系,本次减持计划涉及 5%以上股东 麒越创投及其一致行动人宁波嘉信佳禾创业投资合伙企业（有限合伙）（以 下简称"嘉信佳禾"），前述股东的一致行动人孙力生、杨志瑛本次不计划 减持股份。 减持计划的主要内容 产业基金因基金退出需要通过二级市场集中竞价交易、大宗交易的方 式减持所持有的公司部分股份，股东的减持价格按照市场价格确定，减持 期间为自本公告披露之日起 3 个交易日后的 3 个月内，前述股东为持股 5% 以下股东，均不属于公司控股股东、实际控制人或董监高，本 ...

Core Viewpoint - Guoxin Technology (688262) announced plans for major shareholders to reduce their stakes through centralized bidding and block trading, indicating potential shifts in ownership dynamics within the company [1] Shareholder Reductions - The National Integrated Circuit Industry Investment Fund, holding 3.87% of shares, plans to reduce its stake by up to 10.08 million shares, representing no more than 3% of the total share capital [1] - Ningbo Qiyue Venture Capital Partnership, holding 6.59% of shares, intends to reduce its holdings by up to 5.2284 million shares, which is no more than 1.56% of the total share capital [1] - Ningbo Jiaxin Jiahe Venture Capital Partnership, holding 1.88% of shares, aims to reduce its stake by up to 1.4916 million shares, accounting for no more than 0.44% of the total share capital [1]

Core Viewpoint - Guoxin Technology (688262.SH) announced that shareholders, including the National Integrated Circuit Industry Investment Fund and Qiyue Venture Capital, plan to reduce their holdings in the company due to fund exits, through secondary market transactions [1] Summary by Category Shareholder Actions - The National Integrated Circuit Industry Fund plans to reduce its holdings by no more than 3% [1] - Qiyue Venture Capital plans to reduce its holdings by no more than 1.56% [1] - Jiaxin Jiahe plans to reduce its holdings by no more than 0.44% [1] Timeline - The reduction period will be within three months starting from three trading days after the announcement [1]