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Core Viewpoint - The article highlights the growth and strategic initiatives of Jingfeng Mingyuan, a leading domestic power management chip design company, focusing on its expansion in various product lines and recent acquisitions to enhance market position [3][4][5][6]. Group 1: Company Overview - Jingfeng Mingyuan operates in two main business segments: power management chips and control driver chips, with products including LED lighting driver chips, motor control driver chips, AC/DC power chips, and high-performance computing power chips [3]. - The company serves multiple sectors such as LED lighting, high-performance computing, automotive electronics, industrial applications, and consumer electronics [3]. Group 2: Financial Performance - 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. Excluding share-based payment expenses, the net profit was 9 million yuan, and the non-recurring net profit was 4 million yuan [4]. Group 3: Product Line Expansion - The motor control driver chip segment experienced significant growth, with sales revenue reaching 318 million yuan in 2024, a year-on-year increase of 95.67%. The company has expanded its product coverage to electric mobility, clean appliances, automotive electronics, and more [5]. - The company is actively expanding its AC/DC power chip and motor control driver chip businesses while pushing high-performance computing power chips into mass production [4]. Group 4: Strategic Acquisitions - In October 2024, the company acquired a 19.193% stake in Lingou Chuangxin, increasing its control to 80.8068%. A full acquisition of the remaining 19.19% is planned for March 2025 [5]. - The acquisition of Yichong Technology is in progress, aimed at enhancing the consumer and automotive power management product lines. Yichong Technology has shown rapid revenue growth, with 2023 and the first half of 2024 revenues of 651 million yuan and 518 million yuan, respectively, marking year-on-year growth of 45.82% and 108.46% [6].

结束后将留有提问时间今天参会的嘉宾有金峰民园董事长总经理胡立强先生金峰民园战略投资总经理胡小波先生金峰民园财务负责人徐文女士以及金峰民园董事会秘书张一萌女士接下来有请公司财务负责人徐总对2024年度业绩情况进行介绍谢谢 尊敬的各位投资者各位嘉宾大家好首先感谢大家参加上海金融力源半导体股份有限公司2024年度的业绩说明会感谢各位投资人监管机构各平台等相关方对金融力源一直以来的关注支持理解和信任我是公司财务负责人徐文下面我针对公司2024年度的业绩进行整体说明第一整体业绩概述 2024年是充满挑战与机遇的一年在全球经济波动半导体行业周期性调整以及市场竞争日益激烈的大背景下公司凭借自身的技术实力管理团队的不懈努力和全体员工的齐心协力实现了业绩的逐步稳固复苏2024年度公司实现营业收入15.4亿元 较上年同比减分15.38%实现归属于母公司所有者的净利润负3305.13万元较上年同比减亏5820.87万元实现归属于母公司所有者的扣除非经常性损益的净利润负900.95万元较上年同比减亏1.37亿元 由于公司2023年存在未达到限制性股权股票激励计划业绩考核指标冲回股份支付的情况剔除股份支付影响2024年度公司实现归属于 ...

Investment Rating - The report maintains a "Buy" rating for several companies in the semiconductor sector, including 圣邦股份 (Sengbang), 纳芯微 (Naxinwei), and others [8][16]. Core Insights - The newly released semiconductor origin recognition rules indicate that the location of wafer fabrication will be considered the origin, potentially increasing costs for chips fabricated in the U.S. due to tariffs [4][14]. - The CITE 2025 exhibition showcased over 1,000 exhibitors and highlighted advancements in smart terminals, AI, and other cutting-edge technologies [5][15]. - The electronic industry experienced a decline of 3.31% from April 7 to April 11, ranking 14th among all sectors, with a current P/E ratio of 52.63 [21][24]. Summary by Sections Market Performance - The electronic sector's performance was down by 3.31% during the week of April 7-11, with semiconductor equipment and analog chip design showing slight increases [21][25]. - The report notes that the semiconductor materials and discrete devices sectors ranked fourth and fifth in terms of valuation [25]. Key Companies and Earnings Forecast - The report highlights several companies with their respective earnings per share (EPS) and price-to-earnings (P/E) ratios, recommending a "Buy" for companies like 圣邦股份 (Sengbang) and 纳芯微 (Naxinwei) [8][16]. - The earnings forecasts for 2023, 2024E, and 2025E are provided for each company, indicating growth potential [16][33]. Industry Dynamics - The report discusses the impact of U.S. tariffs on semiconductor products, particularly affecting analog chips fabricated in the U.S. [4][14]. - The CITE 2025 event emphasized the importance of innovation in the electronics sector, showcasing new products and technologies [5][15]. Overseas Leaders Overview - The report notes that overseas semiconductor leaders showed varied performance, with 博通 (Broadcom) leading with a 17.78% increase [17][18]. - The Philadelphia Semiconductor Index reflects a mixed trend, indicating fluctuations in the semiconductor market [19][20].

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 ...