Industry Overview - The projector industry has seen rapid development since 2016, driven by consumer-level penetration, new light source applications, and the expansion of online channels [1][17] - The COVID-19 pandemic significantly impacted the industry in 2020, causing fluctuations in shipment volumes [1][17] - As of 2023, the projector shipment volume in China is expected to grow annually, with an estimated total shipment of approximately 5.5 million units in 2024 and a projected 9.26 million units by 2028 [1][17] Market Structure - The projector market is primarily divided into home and commercial segments, with home projectors accounting for over 80% of the market share in 2024 [18] - The consumer base is becoming younger, leading to increased demand for smart home entertainment solutions [18] Industry Development History - The projector industry in China can be divided into three stages: the embryonic phase (1990-2000), the initial phase (2000-2010), and the rapid development phase (2010-present) [5] - The market for home projectors has grown significantly, with nearly 70% market share in 2022 [5] Industry Chain - The projector industry chain consists of three main segments: upstream (core components like chips and lenses), midstream (manufacturers), and downstream (end-user applications) [7][9] - Upstream suppliers include companies like Rockchip, Allwinner Technology, and Sony, while midstream manufacturers include companies like XGIMI and Fengmi [9] Key Companies - XGIMI Technology has established itself as a leading domestic brand, achieving full-chain self-research capabilities and strong sales performance [21][23] - Other notable companies in the industry include BenQ, Epson, Sony, and Panasonic, which dominate the commercial projector market [21] Market Trends - Online channels are becoming a significant sales avenue for projectors, shifting the consumer structure from B2B to B2C [27] - The consumer market is expected to continue growing, driven by the demand for high-quality home entertainment experiences [28] - New application scenarios, including automotive and AR/VR technologies, are emerging as growth points for the industry [30]

一、说明会类型 | A | 股代码：688347 | A 股简称：华虹公司 | 公告编号：2025-014 | | --- | --- | --- | --- | | 港股代码：01347 | | 港股简称：华虹半导体 | | 华虹半导体有限公司 关于召开 2025 年第一季度业绩说明会的预告公告 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、准确性和完整性依法承担法律责任。 重要事项提示： 华虹半导体有限公司（以下简称"公司"）将于 2025 年 5 月 8 日 交易时段后 披 露 公 司 2025 年 第 一 季 度 业 绩 ， 相 关 内 容 请 详 见 上 海 证 券 交 易 所 网 站 （http://www.sse.com.cn/）及香港交易所网站（https://www.hkex.com.hk/）。 为方便广大投资者更全面深入了解公司经营业绩的具体情况，公司拟于 2025 年 5 月 8 日举行"2025 年第一季度业绩说明会"。 二、 说明会召开的时间、地点 说明会将于 2025 年 5 月 8 日（星期四）下午 17:00-18:00 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 （於香港註冊成立之有限公司） （股份代號：01347） 董事會會議日期通知 承董事會命 華虹半導體有限公司 董事會主席兼執行董事 唐均君先生 中國上海，二零二五年四月二十四日 1 於本公告日期，本公司董事分別為： 執行董事 唐均君 （董事會主席） 白鵬 （總裁） 非執行董事 葉峻 孫國棟 陳博 熊承艷 華虹半導體有限公司（「本公司」）特此通知，本公司謹訂於二零二五年五月八日 （星期四）上午十時舉行董事會會議，以商討下列事項： 1. 考慮及批准刊發本公司及其附屬公司就二零二五年一月一日至三月三十一日 止三個月期間的第一季度未經審核財務業績；及 2. 商議任何其他事項。 獨立非執行董事 張祖同 王桂壎太平紳士 封松林 2 ...

| A 股代码：688347 | 股简称：华虹公司 A 公告编号：2025-013 | | --- | --- | | 港股代码：01347 | 港股简称：华虹半导体 | 2025 年 4 月 23 日 1/2 华虹半导体有限公司 关于调整保荐代表人的公告 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、准确性和完整性依法承担法律责任。 华虹半导体有限公司（以下简称"公司"）于近日收到国泰海通证券股份有 限公司（以下简称"国泰海通"，原名为"国泰君安证券股份有限公司"）通知， 根据中国证券监督管理委员会出具的批复（证监许可〔2025〕96号），核准国泰 君安证券股份有限公司（以下简称为"国泰君安"）吸收合并海通证券股份有限 公司。目前国泰君安已更名为国泰海通证券股份有限公司。 公司首次公开发行 A 股股票原保荐代表人为寻国良先生、李淳女士、邬凯丞 先生、刘勃延先生。本次合并后，国泰海通指派保荐代表人寻国良先生、李淳女 士（简历详见附件）履行对公司的持续督导职责，持续督导期至中国证券监督管 理委员会和上海证券交易所规定的持续督导义务结束为止。 特此公告。 华 ...

Industry Overview - The Beidou receiver is a crucial component of the Beidou satellite navigation system, serving as a bridge between satellites and users, directly impacting service quality and user experience [1][17] - The global service capability of the Beidou system has been continuously enhanced, providing broader application space and higher performance requirements for Beidou receivers [1][17] - The Chinese Beidou receiver industry is experiencing rapid development opportunities, with market potential gradually being released, projected to reach approximately 30.06 billion yuan in 2024 [1][17] Market Size and Segmentation - The market size for Beidou receivers in China is estimated to be around 30.06 billion yuan in 2024, with high-precision receivers accounting for about 10 billion yuan and low-precision receivers for approximately 20.06 billion yuan [1][17] - The industry is driven by both policy support and market demand, focusing on high performance, low power consumption, and multi-scenario integration [1][17] Industry Development History - The development of the Beidou receiver industry is closely linked to the construction of the Beidou satellite navigation system, which began in the 1990s [5] - The industry has evolved from initial military applications to a broader range of civil applications, including transportation, surveying, and public safety [5] - Recent years have seen significant achievements in technological innovation, market expansion, and the improvement of the industrial chain, enhancing international competitiveness [5] Key Companies in the Industry - Major companies in the Beidou receiver industry include: - **Haige Communication**: Holds over 30% market share in military high-precision receivers [18][20] - **Zhenxin Technology**: Maintains a leading position in the satellite-based augmentation system (SBAS) receiver market [18][20] - **Beidou Xingtong**: Focuses on a comprehensive product range and is accelerating the development of integrated cloud-core business models [18][20] - **HuaCe Navigation**: Specializes in high-precision surveying and geographic information solutions [18][20] Technological Advancements - The Beidou receiver industry is moving towards higher positioning accuracy, with potential breakthroughs expected through the integration of satellite and ground-based augmentation systems [26] - Future receivers will evolve from single-function devices to integrated smart terminals, incorporating 5G communication and environmental sensing capabilities [27] - The application of third-generation semiconductor materials is anticipated to significantly reduce the size and power consumption of receivers, facilitating their use in consumer-grade wearable devices and IoT terminals [28]

Group 1 - The A-share market's three major indices closed mixed, with the Shanghai National New Science and Technology Board State-owned Enterprise Index down 0.41% to 963.1 points, with a trading volume of 10.744 billion yuan [1] - The Shanghai National New Science and Technology Board State-owned Enterprise Index has decreased by 7.12% in the past month, increased by 1.30% over the last three months, and has fallen by 0.59% year-to-date [1] - This index reflects the overall performance of state-owned enterprises listed on the Science and Technology Innovation Board, selected from state-owned enterprises or companies with state capital participation without actual controllers [1] Group 2 - The top ten holdings of the index include Haiguang Information (6.23%), China Resources Microelectronics (6.11%), Huahai Qingke (5.7%), SMIC (5.65%), Western Superconducting (5.15%), Zhongwei Company (4.2%), Huahong Semiconductor (4.14%), Jinghe Integrated (4.07%), China Railway Signal & Communication (3.38%), and Zhongke Star Map (3.29%) [1] - The index's holdings are entirely from the Shanghai Stock Exchange, with a 100% allocation [1] - In terms of industry distribution, Information Technology accounts for 55.88%, Industry 28.72%, Materials 9.41%, Healthcare 3.41%, and Communication Services 2.58% [2] Group 3 - The index samples are adjusted every six months, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments possible under special circumstances [2] - Companies that are delisted or undergo mergers, acquisitions, or spin-offs will be processed according to calculation and maintenance guidelines [2]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 半导体板块爆发 半导体板块今日大幅拉升，截至收盘，晶华微、唯捷创芯、富满微、纳芯微、圣邦股份、思瑞浦等20% 涨停，华虹公司涨19.75%。 在全球股市普遍走低背景下，A股、港股逆市走高。 今日，在隔夜美股大跌后，亚太市场普遍走低，日经225指数一度跌超5%。欧股今日开盘后也迅速走 低，截至发稿，主要指数均转跌，德国DAX指数、意大利富时MIB指数、欧元区斯托克50指数跌幅均 超1%。 | 英国富时100 | 7883.60 | -29.65 | -0.37% | | --- | --- | --- | --- | | 法国CAC40 | 7088.53 | -37.49 | -0.53% | | 德国DAX | 20341.84 | -220.89 | -1.07% | | 意大利富时MIB | 33779.85 | -497.24 | -1.45% | | 欧元区STOXX50(欧元) | 4762.53 d | -56.39 | -1.17% | A股、港股今日逆市走高。A股创业板指、科创50指数等较为强势；港股午后再度拉升，恒生 ...

Group 1 - The storage chip sector rose by 4.62%, ranking fourth among concept sectors, with 91 stocks increasing in value, including Yachuang Electronics which hit a 20% limit up [1] - Major gainers in the storage chip sector included Huahong Company, Lierda, and Hualing Co., which rose by 19.75%, 14.36%, and 11.40% respectively [1] - The sector saw a net inflow of 4.219 billion yuan from main funds, with 73 stocks receiving net inflows, and 12 stocks exceeding 100 million yuan in net inflow [2] Group 2 - The top stocks by net inflow included Shanghai Beiling with 499.35 million yuan, followed by Huahong Company and Tongfu Microelectronics with 481 million yuan and 464 million yuan respectively [2][3] - The net inflow ratio was highest for Yingfang Microelectronics at 59.12%, followed by Dagang Co. at 56.30% and Haoshanghao at 31.89% [3][4] - The storage chip sector's performance was contrasted by declines in other sectors, such as genetically modified and grain concepts, which fell by 5.96% and 4.68% respectively [2]

Core Viewpoint - The semiconductor sector experienced a significant rally in the afternoon, with nearly 20 stocks hitting the daily limit up, indicating strong investor interest and positive market sentiment towards the industry [1] Group 1: Stock Performance - Companies such as Weijie Chuangxin, Jinghua Micro, SIRUI, Meixin Sheng, Naxin Micro, Fuman Micro, Jiewate, Huahong Company, Shanghai Beiling, Tongfu Microelectronics, and Yingfang Micro all reached the daily limit up [1] - Other stocks like Jingfeng Mingyuan, Guomin Technology, Aiwei Electronics, and Anlu Technology saw increases of over 10% [1]

开源证券指出，商务部于2025年1月宣布将针对国内产业的诉求依法启动调查，或打破美企"低价换份 额"策略，推动国内消费、汽车及工业等终端需求加速转向本土。叠加国内关税反制政策落地，国产化 进程有望进一步提升。模拟芯片是以成熟制程的产品为主，国内供应链相对成熟。同时，国内模拟芯片 市场目前由国际大厂主导，国产化速度相对缓慢。随着中国开始对成熟制程芯片展开反倾销调查，我国 模拟芯片国产化进程有望加速。 科创芯片ETF（588200）跟踪科创芯片指数，该指数从科创板上市公司中选取业务涉及半导体材料和设 备、芯片设计、芯片制造、芯片封装和测试相关的证券作为指数样本。此外，科创芯片ETF（588200） 还配备了场外联接基金（A类：017469；C类：017470）。 消息面上，据央视新闻，由中国移动承建的全国首个"四算合一"算力网络调度平台日前正式投入使 用。"四算合一"是指将通用算力、智能算力、超级算力和量子算力四种计算能力融合的算力体系。据了 解，该算力调度平台可以支持每天上亿次的算力调用，能调度全国1/6的算力规模，算网一体化效率提 升20%。平台自有智算中心的芯片国产化率超过90%，兼容8种国产AI芯片，对保 ...