Group 1 - The A-share market saw a majority of semiconductor stocks rise, with Zhenlei Technology increasing by over 16% [1] - Hengshuo Co. experienced a rise of over 14% [1] - Fudan Microelectronics and Chengdu Huami both rose by over 13% [1] Group 2 - Changchuan Technology increased by nearly 9% [1] - Jingfeng Mingyuan saw an increase of over 7% [1] - Beijing Junzheng and Hongwei Technology both rose by over 6% [1] Group 3 - Juxin Technology increased by over 5% [1] - Hangyu Micro, Ruichuang Weina, Xindong Linke, Yandong Micro, and Yuanjie Technology all rose by over 4% [1]

上海晶丰明源半导体股份有限公司 2025 年第四次临时股东会 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 2025 年第四次临时股东会会议资料 2025 年 12 月 1 上海晶丰明源半导体股份有限公司 2025 年第四次临时股东会 目 录 上海晶丰明源半导体股份有限公司 2025 年第四次临时股东会会议须知 ................. 3 上海晶丰明源半导体股份有限公司 2025 年第四次临时股东会会议议程 ................. 5 2 议案一：关于公司本次交易部分发行股份购买资产的交易对方更新股份锁定期安排的议案 7 议案二：关于公司本次交易履行法定程序的完备性、合规性及提交法律文件有效性的议案 9 上海晶丰明源半导体股份有限公司 2025 年第四次临时股东会 上海晶丰明源半导体股份有限公司 2025 年第四次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证 会议的顺利进行，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 公司股东会规则》以及《上海 ...

Group 1 - The core point of the news is that Jingfeng Mingyuan's stock price increased by 5.35% to 113.58 yuan per share, with a total market capitalization of 10.051 billion yuan as of the report date [1] - Jingfeng Mingyuan Semiconductor Co., Ltd. specializes in the design, research, and sales of semiconductor power management chips, with its main revenue sources being LED lighting driver chips (51.44%), motor control driver chips (26.21%), AC/DC power chips (17.56%), high-performance computing power chips (4.76%), and others (0.03%) [1] Group 2 - The fund "Shangzheng Research Selected Mixed Initiation A" (023397) has increased its holdings in Jingfeng Mingyuan by 3,156 shares, bringing the total to 11,400 shares, which constitutes 7.31% of the fund's net value, making it the sixth-largest holding [2] - The fund has a total scale of 16.4659 million yuan and has achieved a return of 30.53% since its inception [2] Group 3 - The fund managers of "Shangzheng Research Selected Mixed Initiation A" are Zhang Zhimei and Li Rui, with Zhang having a tenure of 8 years and 20 days, managing assets totaling 253 million yuan, and achieving a best return of 121.21% during his tenure [3] - Li Rui has a tenure of 310 days, managing assets of 18.0713 million yuan, with a best return of 30.33% during his tenure [3]

Core Viewpoint - The semiconductor industry in China is experiencing a wave of mergers and acquisitions (M&A) driven by policy incentives and the need for industrial upgrades, with leading companies focusing on "supply chain enhancement and value synergy" [1] Group 1: M&A Trends and Strategies - Leading semiconductor companies on the Sci-Tech Innovation Board are engaging in M&A to consolidate resources and enhance competitiveness, reflecting a shift from "quantity accumulation" to "quality leap" in the industry [1][2] - The semiconductor sector has seen 125 companies on the Sci-Tech Innovation Board, accounting for over 60% of A-share counterparts, indicating a strong presence across various segments including design, manufacturing, and testing [2] - Major players like SMIC and Hua Hong Semiconductor are pursuing strategic acquisitions to enhance their market share and technological capabilities, such as SMIC's move to gain full control of its subsidiary [2][3] Group 2: Sector-Specific M&A Activities - In the equipment segment, companies are using M&A to overcome technical barriers and transition towards platform development, as seen with the acquisition of Zhongsil Technology by Zhongwei [3] - The design, IP, and EDA sectors are witnessing urgent M&A needs, with domestic firms focusing on acquiring scarce resources to compete against established foreign leaders [3] - Notable transactions include Jingfeng Mingyuan's acquisition of a leading wireless charging firm to strengthen its market position and capabilities [3] Group 3: Market Dynamics and Transaction Rationality - The recent termination of some semiconductor M&A deals is viewed as a natural outcome of a rational market rather than a cooling of industry consolidation [4] - Since the implementation of the "Eight Articles" policy, over 150 M&A transactions have been disclosed, with more than 70% successfully completed, indicating a robust M&A environment [4] - The semiconductor industry is characterized by complex shareholder structures and high valuations, leading to increased negotiation challenges and a higher likelihood of deal terminations [4][5] Group 4: Institutional Innovation and Future Outlook - The rational prosperity of the semiconductor M&A market is supported by institutional innovations that enhance transaction flexibility and inclusivity [6] - The adoption of innovative payment mechanisms, such as convertible bonds and differentiated pricing, has facilitated strategic investments while safeguarding long-term interests [6] - Future M&A activities are expected to focus on optimizing resource allocation and fostering technological integration, marking a shift from mere scale expansion to creating substantial value [6]

格隆汇12月19日丨晶丰明源(688368.SH)公布，公司于2025年12月18日收到政府补助款项人民币550.00万 元，其中与资产相关的补助金额为420.00万元，占公司最近一期经审计总资产的0.20%；与收益相关的 补助金额为130.00万元，占公司最近一个会计年度经审计的归属于上市公司股东的净利润绝对值的 3.93%。 ...

人民财讯12月19日电，晶丰明源(688368)12月19日公告，公司于2025年12月18日收到政府补助款项550 万元，其中与资产相关的补助金额为420万元，占公司最近一期经审计总资产的0.2%；与收益相关的补 助金额为130万元，占公司最近一个会计年度经审计的归属于上市公司股东的净利润绝对值的3.93%。 ...

截至发稿，晶丰明源市值为97亿元。 （记者 贾运可） 2024年1至12月份，晶丰明源的营业收入构成为：集成电路占比99.94%，其他业务占比0.06%。 每经AI快讯，晶丰明源（SH 688368，收盘价：110元）12月19日晚间发布公告称，公司于2025年12月 18日收到政府补助款项人民币550万元，其中与资产相关的补助金额为420万元，占公司最近一期经审计 总资产的0.2%；与收益相关的补助金额为130万元，占公司最近一个会计年度经审计的归属于上市公司 股东的净利润绝对值的3.93%。 每经头条（nbdtoutiao）——海南封关首日直击：为中国探路，全球最大自贸港如何重塑开放边界？ ...

二、补助的类型及其对上市公司的影响 根据《企业会计准则第 16 号——政府补助》的有关规定，上述获得的政府 补助为与资产和收益相关的补助款项。上述政府补助数据未经审计，具体会计处 理以及对公司相关年度损益的影响最终以审计机构年度审计确认后的结果为准。 敬请广大投资者注意投资风险。 特此公告。 上海晶丰明源半导体股份有限公司 证券代码：688368 证券简称：晶丰明源 公告编号：2025-096 上海晶丰明源半导体股份有限公司 关于获得政府补助的公告 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。 一、获得补助的基本情况 上海晶丰明源半导体股份有限公司（以下简称"公司"）于 2025 年 12 月 18日收到政府补助款项人民币550.00万元，其中与资产相关的补助金额为420.00 万元，占公司最近一期经审计总资产的 0.20%；与收益相关的补助金额为 130.00 万元，占公司最近一个会计年度经审计的归属于上市公司股东的净利润绝对值的 3.93%。 董 事 会 2025 年 12 月 20 日 ...

截至发稿，晶丰明源市值为105亿元。 每经AI快讯，晶丰明源（SH 688368，收盘价：118.6元）12月15日晚间发布公告称，公司第三届第三十 六次董事会会议于2025年12月15日以现场与通讯结合方式召开。会议审议了《关于批准公司本次交易相 关的加期评估报告的议案》等文件。 （记者 曾健辉） 2024年1至12月份，晶丰明源的营业收入构成为：集成电路占比99.94%，其他业务占比0.06%。 每经头条（nbdtoutiao）——中标企业频频弃标 大型医疗设备采购有何难言之隐？ ...

股票代码：688368 股票简称：晶丰明源 上市地点：上海证券交易所 上海晶丰明源半导体股份有限公司 发行股份及支付现金 购买资产并募集配套资金报告书（草案） 摘要（修订稿） | 项目 | 交易对方 | | --- | --- | | 发行股份及支付 | 海南玮峻思投资合伙企业（有限合伙）等 50 名易冲科 | | 现金购买资产 | 技股东 | | 募集配套资金 | 不超过 35 名符合中国证监会规定的特定投资者 | 独立财务顾问 签署日期：二〇二五年十二月 声 明 本部分所述词语或简称与本报告书摘要"释义"所述词语或简称具有相同含义。 一、上市公司声明 本公司及本公司全体董事及高级管理人员保证上市公司及时、公平地披露信息， 保证本报告书及其摘要内容的真实、准确、完整，不存在虚假记载、误导性陈述或者 重大遗漏，保证本报告书摘要所引用的相关数据的真实性和合理性，并对所提供信息 的真实性、准确性、完整性负相应的法律责任。 如本次交易所披露或提供的信息涉嫌虚假记载、误导性陈述或者重大遗漏，被司 法机关立案侦查或者被中国证监会立案调查的，在形成调查结论以前，不转让在该上 市公司拥有权益的股份，并于收到立案稽查通知的两 ...