| 证券代码：688362 | 证券简称：甬矽电子 | 公告编号：2025-080 | | --- | --- | --- | | 债券代码：118057 | 债券简称：甬矽转债 | | 况使公司股份发生变化时，公司将按上述条件出现的先后顺序依次进行转股价 格调整（保留小数点后两位，最后一位四舍五入）。 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。 重要内容提示： "甬矽转债"的转股期：2026年1月2日起至2031年6月25日，目前尚未 进入转股期。 一、转股价格调整依据 甬矽电子（宁波）股份有限公司（以下简称"公司"）于2025年9月18日收 到中国证券登记结算有限责任公司上海分公司出具的《证券变更登记证明》， 公司已完成2024年限制性股票激励计划首次授予部分第一个归属期的股份登记 工作，完成57名激励对象的归属股份登记合计857,100股，使公司总股本由 409,625,930股变更为410,483,030股，具体内容详见公司于2025年9月20日在上海 证券交易所网站（www.sse.com.cn）披露的《甬矽 ...

证券代码：688362 证券简称：甬矽电子 公告编号：2025-078 债券代码：118057 债券简称：甬矽转债 甬矽电子（宁波）股份有限公司 2024 年限制性股票激励计划首次授予部分 第一个归属期归属结果暨股份上市的公告 （一）2024 年 7 月 19 日，公司召开第三届董事会第七次会议，审议通过了《关 于<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关于<2024 年限制性 股票激励计划实施考核管理办法>的议案》及《关于提请股东大会授权董事会办理 股权激励计划相关事宜的议案》等议案。 同日，公司召开第三届监事会第四次会议，审议通过了《关于<2024 年限制性 股票激励计划（草案）>及其摘要的议案》《关于<2024 年限制性股票激励计划实施 考核管理办法>的议案》及《关于核实<2024 年限制性股票激励计划首次授予激励 对象名单>的议案》，公司监事会对本次激励计划的相关事项进行核实并出具了相 关核查意见。公司于 2024 年 7 月 20 日在上海证券交易所网站（www.sse.com.cn） 披露了相关公告。 （二）2024 年 7 月 20 日至 2024 年 7 月 29 日，公司 ...

| 证券代码：688362 | 证券简称：甬矽电子 | 公告编号：2025-079 | | --- | --- | --- | | 债券代码：118057 | 债券简称：甬矽转债 | | 1、审议通过《关于"甬矽转债"转股价格调整的议案》 甬矽电子（宁波）股份有限公司 第三届董事会第二十一次会议决议公告 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。 一、董事会会议召开情况 甬矽电子（宁波）股份有限公司（以下简称"公司"）第三届董事会第二十一次 会议于 2025 年 9 月 19 日以现场结合通讯会议方式在公司会议室召开。全体董事一致 同意豁免本次会议的提前通知期限，召集人已在董事会会议上就豁免董事会会议通知 的相关情况作出说明。会议由公司董事长王顺波主持，本次会议应出席董事 7 名，实 际出席董事 7 名。本次会议的召集、召开方式符合有关法律、法规和《甬矽电子（宁 波）股份有限公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 本次会议经与会董事审议并以记名投票表决方式审议通过了相关的议案，形成决 议如下： ...

Investment Rating - The industry investment rating is maintained as "Outperform" [3] Core Insights - The semiconductor packaging and testing industry is experiencing significant growth driven by AI and advanced packaging technologies, with major players focusing on creating one-stop solutions for packaging and testing [1][5] - Key companies such as Jiayuan Electronics and Weicai Technology are increasing their capital expenditures and expanding high-end testing capacities, reflecting strong demand across various applications [2][5] - The overall gross margin for the domestic packaging sector has shown a notable increase, with leading companies like Huada Technology and Liyang achieving higher margins compared to the industry average [11][12] Summary by Sections Overview - The gross margin for the semiconductor packaging sector has significantly improved, reaching 21.44% in Q2 2025, which is higher than the average for previous quarters [11][12] OSAT (Outsourced Semiconductor Assembly and Test) - Daylight Technology's advanced packaging revenue has surpassed 10% of its total, with a recovery in general business observed [17] - Anke Technology reported a revenue of 10.779 billion RMB in Q2 2025, with a 14.3% quarter-on-quarter growth, driven by strong demand in various markets [30][31] - Powertech Technology's revenue reached 4.226 billion RMB in Q2 2025, reflecting a 16.56% quarter-on-quarter increase [39] Testing - Jiayuan Electronics has significantly increased its capital expenditure, with a 149.64% quarter-on-quarter growth in Q2 2025 [2][3] - Weicai Technology has seen strong revenue and profit growth in H1 2025, driven by the increasing demand for high-end testing services [5][20] Equipment - AI continues to be the main driver for industry growth, with strong demand for TCB, hybrid bonding, and SoC testing equipment [5][21] - ASMPT reported a 50% year-on-year increase in TCB equipment orders in H1 2025 [5][23] Market Trends - The smartphone market is experiencing regional differentiation, with strong growth in specific areas such as the Middle East and Africa [6][28] - The automotive sector is showing positive trends, particularly in the new energy vehicle segment, while traditional fuel vehicles are stabilizing [6][32] Investment Recommendations - The report suggests focusing on key players in packaging, testing, and equipment sectors, including Daylight Technology, Tongfu Microelectronics, and ASMPT, among others [5][34]

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the semiconductor industry [4]. Core Insights - The semiconductor packaging sector has shown significant improvement in gross margins, with leading companies like Huada and Liyang experiencing notable growth [12][13]. - AI continues to be the primary driving force behind industry growth, with major OSAT players focusing on advanced packaging solutions [6][18]. - The report highlights the strong performance of key companies such as Tongfu Microelectronics and ASE Technology, driven by robust demand in AI and automotive electronics [50][47]. Summary by Sections 1. Overview - The gross margin of the semiconductor packaging sector has significantly increased, surpassing levels seen in 2024. In Q2 2025, the gross margin reached 21.44%, up 4.52 percentage points from the previous quarter [12][13]. 2. OSAT - **ASE Technology**: In Q2 2025, ASE's revenue reached 132.13 billion RMB, with a year-on-year growth of 6.68% and a quarter-on-quarter increase of 9.55%. The advanced packaging and testing business has shown strong growth, accounting for over 10% of total revenue [18][19]. - **Anke Technology**: Reported revenue of 107.79 billion RMB in Q2 2025, with a quarter-on-quarter growth of 14.3% and a year-on-year increase of 3.42%. The company is expanding its testing capabilities and focusing on advanced packaging solutions [31][39]. - **Powertech Technology**: Achieved a revenue of 42.26 billion RMB in Q2 2025, with a quarter-on-quarter growth of 16.56%. The company is set to restart significant capital expenditures to expand its production capacity [40][44]. 3. Testing - **King Yuan Electronics**: Capital expenditures surged to 26.62 billion RMB in Q2 2025, reflecting a 149.64% quarter-on-quarter increase and a 474.34% year-on-year increase. All application segments reported growth [2][29]. - **Weichai Technology**: Continued to enhance its high-end testing capacity, with strong revenue and profit growth in H1 2025, driven by AI and automotive electronics [5][35]. 4. Equipment - AI remains the main driver for industry development, with significant growth in TCB, hybrid bonding, and SoC testing machines. ASMPT reported a 50% year-on-year increase in TCB equipment orders in H1 2025 [5][4]. 5. Market Trends - The smartphone market is experiencing regional differentiation, with strong growth in specific areas such as the Middle East and Africa. The PC market saw an 8.4% year-on-year increase in shipments in Q2 2025 [6][11]. 6. Investment Recommendations - The report suggests focusing on companies involved in packaging, testing, and equipment, including ASE Technology, Tongfu Microelectronics, and ASMPT, as they are expected to benefit from the ongoing advancements in AI and semiconductor technology [6][50].

Summary of Key Points Core Viewpoint - On September 16, five listed companies conducted stock buybacks, indicating a trend of companies returning capital to shareholders and potentially signaling confidence in their financial health [1] Group 1: Company Buyback Details - Industrial Fulian repurchased shares worth 7.71 million yuan, acquiring 1.29 million shares [1] - Tapai Group repurchased shares worth 5.02 million yuan, acquiring 560,000 shares [1] - Yongxi Electronics repurchased shares worth 2.97 million yuan, acquiring 90,000 shares [1]

Group 1 - The company approved a share repurchase plan on October 28, 2024, allowing for the repurchase of shares at a price not exceeding RMB 32.44 per share, with a total amount between RMB 70 million and RMB 90 million [2][3] - The repurchase will utilize both the company's own funds and a special loan from a bank, and is intended for employee stock ownership plans or convertible bond conversions [3][4] - As of September 15, 2025, the company has repurchased a total of 2,655,280 shares, accounting for 0.65% of the total share capital, with an average repurchase price of RMB 26.92 per share [3][4] Group 2 - The repurchased shares will not enjoy rights such as profit distribution or voting rights, and if not used within three years, the company will reduce its registered capital accordingly [7] - The company completed the second vesting period of its restricted stock incentive plan on June 10, 2025, with a total of 210,000 shares allocated to a senior executive [6] - The company issued RMB 1.165 billion in convertible bonds, with a net fundraising amount of approximately RMB 1.151 billion after deducting issuance costs [11][12] Group 3 - The convertible bonds will be listed on the Shanghai Stock Exchange starting July 16, 2025, and can be converted into shares from January 2, 2026 [11][12] - Investors must meet the suitability requirements for investing in Sci-Tech Innovation Board stocks to convert the bonds into shares, otherwise, they may face risks [12]

Summary of Key Points Core Viewpoint - Yongxi Electronics has successfully completed a share buyback, indicating confidence in its stock value and future prospects [1]. Company Performance - As of September 15, 2025, Yongxi Electronics has repurchased approximately 2.66 million shares, representing 0.65% of its total share capital [1]. - The highest price for the repurchased shares was 32.33 CNY per share, while the lowest was 23.79 CNY per share, with an average repurchase price of 26.92 CNY per share [1]. - The total amount spent on the buyback was approximately 71.49 million CNY [1]. Revenue Composition - For the year 2024, Yongxi Electronics' revenue composition is as follows: integrated circuit packaging and testing accounted for 97.96%, while other businesses contributed 2.04% [1]. Market Capitalization - As of the report, Yongxi Electronics has a market capitalization of 14.1 billion CNY [1].

Core Points - Company completed a share buyback on September 15, 2025, repurchasing a total of 2.6553 million shares, which represents 0.65% of the company's total share capital [1] - The highest price for the repurchased shares was 32.33 CNY per share, while the lowest price was 23.79 CNY per share, with an average buyback price of 26.92 CNY per share [1] - The total amount spent on the buyback was 71.4921 million CNY, excluding transaction fees such as stamp duty and commission [1]

| 证券代码：688362 | 证券简称：甬矽电子 | 公告编号：2025-076 | | --- | --- | --- | | 债券代码：118057 | 债券简称：甬矽转债 | | 甬矽电子（宁波）股份有限公司 关于股份回购实施结果暨股份变动的公告 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。 重要内容提示： | 回购方案首次披露日 | 2024/10/29 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2024 10 | 10 | 28 | 日~2025 | 年 | 月 | 27 | 日 | | 预计回购金额 | 7,000万元~9,000万元 | | | | | | | | | 回购价格上限 | 32.44元/股 | | | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 √用于转换公司可转债 | | | | | | | | | | □为维护公司 ...