Core Viewpoint - The company is focusing on solidifying its LED lighting driver chip business while actively expanding into AC/DC power chips and motor control driver chips, aiming for high-quality development through strategic acquisitions and product diversification [2][3][4]. Group 1: Business Performance - In 2024, the company achieved a sales revenue of 1.504 billion yuan, representing a year-on-year growth of 15.38% [2]. - The net profit attributable to the parent company was -33 million yuan, with a non-recurring net profit of -9 million yuan; excluding share-based payment impacts, the net profit was 9 million yuan, and the non-recurring net profit was 4 million yuan [2]. - The company’s motor control driver chip sales reached 318 million yuan, a year-on-year increase of 95.67% [3]. Group 2: Product Development - The company is expanding its product lines, including AC/DC power chips and motor control driver chips, while pushing high-performance computing power chips into mass production [2]. - The high-performance computing product line achieved a sales revenue of 43 million yuan in 2024, a staggering year-on-year increase of 1,402.25% [4]. - The company has received certifications from several international and domestic CPU/GPU chip manufacturers, becoming the first domestic power chip company to enter NVIDIA's recommended supplier list [4]. Group 3: Strategic Acquisitions - The company plans to acquire 100% equity of Yichong Technology through a combination of issuing shares, convertible bonds, and cash payments, which will enhance product complementarity and market competitiveness [2]. - As of the end of 2024, the company increased its stake in Lingou Chuangxin to 80.8068% through a cash acquisition of 19.1930% [3].

Investment Rating - The report maintains an "Accumulate" rating for the company [4][6]. Core Viewpoints - The company is actively expanding its product lines, including AC/DC power chips and motor control driver chips, while solidifying its core business in LED lighting driver chips. This strategic expansion is expected to enhance market competitiveness and drive revenue growth [1]. - In 2024, the company achieved a sales revenue of 1.504 billion yuan, representing a year-on-year growth of 15.38%. The net profit attributable to the parent company was -33 million yuan, with a non-recurring net profit of -9 million yuan [1]. - The acquisition of 100% equity in Yichong Technology is planned to enhance product offerings and market reach, which is anticipated to contribute to high-quality development [1]. - The motor control driver chip segment saw significant growth, with sales revenue reaching 318 million yuan in 2024, up 95.67% year-on-year [2]. - The high-performance computing power chip line achieved a remarkable sales revenue of 43 million yuan in 2024, marking a year-on-year increase of 1,402.25% [3]. - The company has adjusted its profit forecast for 2025 to 117 million yuan, down 54%, while projecting profits of 205 million yuan and 309 million yuan for 2026 and 2027, respectively [4]. Summary by Sections Business Overview - The company is focusing on internal and external growth strategies, particularly in new product lines, which are expected to open up new growth opportunities [1]. Financial Performance - The company reported a sales revenue of 1.504 billion yuan in 2024, with a 15.38% increase compared to the previous year. The net profit attributable to the parent company was -33 million yuan [1]. - The motor control driver chip segment generated 318 million yuan in sales, reflecting a 95.67% increase year-on-year [2]. - The high-performance computing power chip segment achieved sales of 43 million yuan, a significant increase of 1,402.25% year-on-year [3]. Profit Forecast and Valuation - The profit forecast for 2025 has been revised down to 117 million yuan, with projections of 205 million yuan and 309 million yuan for 2026 and 2027, respectively. The corresponding P/E ratios for 2025, 2026, and 2027 are expected to be 80, 45, and 30 [4].

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]

重要内容提示： 会议召开时间：2025 年 4 月 17 日（星期四）下午 15:00-17:00 证券代码：688368 证券简称：晶丰明源 公告编号：2025-023 上海晶丰明源半导体股份有限公司 关于参加 2024 年度科创板芯片设计环节行业 集体业绩说明会的公告 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。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 4 月 17 日（星期四）下午 15:00-17:00 （ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） （三）会议召开方式：上证路演中心网络互动 三、参加人员 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 4 月 10 日（星期四）至 4 月 16 日（星期三 ...

证券代码：688368 证券简称：晶丰明源 公告编号：2025-022 上海晶丰明源半导体股份有限公司 2024 年年度股东大会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 04 月 01 日 （二） 股东大会召开的地点：中国（上海）自由贸易试验区申江路 5005 弄 3 号 9 层上海晶丰明源半导体股份有限公司第一会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 80 | | --- | --- | | 普通股股东人数 | 80 | | 2、出席会议的股东所持有的表决权数量 | 60,210,246 | | 普通股股东所持有表决权数量 | 60,210,246 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的 | 69.2765 | | 比例（%） | | | 普通股股东所持有表决权数量占公司 ...

晶丰明源 2024 年年度股东大会法律意见书 国浩律师（杭州）事务所 国浩律师（杭州）事务所 关 于 上海晶丰明源半导体股份有限公司 2024 年年度股东大会 法律意见书 致：上海晶丰明源半导体股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受上海晶丰明源半导体股 份有限公司（以下简称"公司"）委托，指派律师现场见证公司 2024 年年度股 东大会（以下简称"本次股东大会"），并依据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 中国证券监督管理委员会（以下简称"中国证监会"）发布的《上市公司股东大 会规则》（以下简称"《股东大会规则》"）、《上市公司治理准则》（以下简 称"《治理准则》"）和上海证券交易所发布的《上海证券交易所科创板股票上 市规则》（以下简称"《上市规则》"）等法律、行政法规、规范性文件及现行 有效的《上海晶丰明源半导体股份有限公司章程》（以下简称"《公司章程》"）、 《上海晶丰明源半导体股份有限公司股东大会议事规则》（以下简称"《股东大 会议事规则》"）的规定，就本次股东大会的召集、召开程序、出席会议人员资 格、召集人资 ...

晶丰明源: 上海晶丰明源半导体股份有限公司2024 年年度股东大会会议资料 上海晶丰明源半导体股份有限公司 2024 年年度股东大会 公司代码：688368 公司简称：晶丰明源 上海晶丰明源半导体股份有限公司 上海晶丰明源半导体股份有限公司 2024 年年度股东 大会 目 录 上海晶丰明源半导体股份有限公司 2024 年年度股东大会 上海晶丰明源半导体股份有限公司 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保 证大 会的顺利进行，根据 《中华人民共和国公司法》（以下简称 "《公司 法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股 东大会规则》以及《上海晶丰明源半导体股份有限公司章程》（以下简称"《公 司章程》"）、《上海晶丰明源半导体股份有限公司股东大会议事规则》等相关 规定，特制定上海晶丰明源半导体股份有限公司（以下简称"公司"）2024 年年 度股东大会会议须知： 一、为确认出席大会的股东或其代理人或其他出席者的出席资格，会议工 作人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，务 ...

上海晶丰明源半导体股份有限公司 2024 年年度股东大会 公司代码：688368 公司简称：晶丰明源 上海晶丰明源半导体股份有限公司 2024 年年度股东大会会议资料 2025 年 4 月 1 上海晶丰明源半导体股份有限公司 2024 年年度股东大会 | | | | 上海晶丰明源半导体股份有限公司 2024 年年度股东大会会议须知 3 | | | --- | --- | | 上海晶丰明源半导体股份有限公司 2024 年年度股东大会会议议程 5 | | | 上海晶丰明源半导体股份有限公司 2024 年年度股东大会会议议案 7 | | | 议案一：关于《2024 年年度报告》及摘要的议案 | 7 | | 议案二：关于《2024 年度董事会工作报告》的议案 | 8 | | 议案三：关于《2024 年度监事会工作报告》的议案 | 9 | | 议案四：关于《2024 年度财务决算报告》的议案 | 10 | | 议案五：关于公司 年度利润分配预案的议案 2024 | 13 | | 议案六：关于续聘会计师事务所的议案 | 14 | | 议案七：关于公司董事 年度薪酬方案的议案 2025 | 15 | | 议案八：关于公司监 ...

证券代码：688368 证券简称：晶丰明源 公告编号：2025-021 上海晶丰明源半导体股份有限公司 关于筹划重大资产重组的进展公告 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、本次交易基本情况 上海晶丰明源半导体股份有限公司（以下简称"公司"）拟以发行股份、可 转换公司债券及支付现金方式购买四川易冲科技有限公司（以下简称"标的公 司"）100%的股权并拟向不超过 35 名特定投资者发行股份募集配套资金（以下 简称"本次交易"）。本次交易预计构成《上市公司重大资产重组管理办法》规 定的重大资产重组，构成《上海证券交易所科创板股票上市规则》规定的关联交 易，不构成重组上市。 二、本次交易进展情况 根据上海证券交易所相关规定，经公司向上海证券交易所申请，公司股票于 2024 年 10 月 22 日（星期二）开市起停牌，并于 2024 年 10 月 29 日（星期二） 开市起继续停牌，具体情况详见公司于 2024 年 10 月 22 日发布于上海证券交易 所网站（www.sse.com.cn）上的《上海晶丰明源半导体股 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index in the next six months [5][19]. Core Insights - The company achieved a revenue of 1.504 billion yuan in 2024, representing a year-on-year growth of 15.38%. Although the net profit attributable to shareholders remained negative at -33 million yuan, it marked a significant reduction in losses compared to the previous year [2][4]. - The overall gross margin improved to 37.12%, an increase of 11.45 percentage points year-on-year, primarily due to product structure optimization and cost reductions [2][3]. - The company is actively enhancing its product structure across four major product lines, with significant growth in the AC/DC power chip and motor control chip businesses [3][4]. Financial Performance Summary - Revenue projections for 2025-2027 are 1.936 billion yuan, 2.362 billion yuan, and 2.504 billion yuan, respectively, with growth rates of 28.8%, 22.0%, and 6.0% [1][9]. - The net profit attributable to shareholders is expected to turn positive in 2025, reaching 96 million yuan, with a projected EPS of 1.09 yuan [1][9]. - The company has increased its R&D expenditure to 400 million yuan in 2024, a year-on-year increase of 36.04%, reflecting its commitment to innovation [2][4]. Business Development and Strategic Moves - The company initiated a significant asset restructuring in October 2024, planning to acquire 100% of Yichong Technology, which is expected to enhance product complementarity and market collaboration [4]. - Additionally, the company signed an agreement to acquire a 19.19% stake in Lingou Chuangxin for 143 million yuan, aiming to optimize resource allocation and improve profitability [4].