Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company reported strong revenue growth of 47.53% year-on-year, reaching 634 million yuan, and a remarkable net profit increase of 831.03%, amounting to 101 million yuan in the first half of 2025 [1] - The company's business structure optimization and improved profitability quality are attributed to increased demand for advanced packaging testing driven by the rise in smart driving penetration, rapid growth in data centers and AI computing power, and accelerated domestic substitution [1][3] - The semiconductor industry is expected to maintain optimistic growth, with significant demand for chip testing in mainland China, providing a broad development space for independent third-party testing [3] Financial Performance - Revenue projections for 2025-2027 have been revised upwards, with expected revenues of 1.52 billion yuan, 1.96 billion yuan, and 2.45 billion yuan respectively, compared to previous estimates of 1.37 billion yuan, 1.74 billion yuan, and 2.31 billion yuan [4] - The forecast for net profit attributable to the parent company has also been increased, with expected figures of 227 million yuan, 304 million yuan, and 434 million yuan for 2025-2027, up from 196 million yuan, 280 million yuan, and 387 million yuan [4] Market Expansion and Client Base - The company has a solid client base of over 200 clients, including well-known domestic integrated circuit design companies and some wafer fabs, packaging plants, and IDM companies, ensuring long-term stable cooperation [3] - The company is actively expanding its market presence through technology innovation and participation in major industry exhibitions, enhancing its overall market competitiveness [3] Capacity Expansion - The company is accelerating its capacity layout for high-end and high-reliability chip testing, with significant investments in testing bases in Wuxi and Nanjing, and plans for new projects in Nanjing and Chengdu [2] - The overall capacity utilization rate has exceeded 90%, further expanding testing capabilities and supporting the development of strategic emerging industries such as AI, cloud computing, IoT, new energy vehicles, and autonomous driving [2]

| 证券代码：688372 | 证券简称：伟测科技 | 公告编号：2025-075 | | --- | --- | --- | | 转债代码：118055 | 转债简称：伟测转债 | | 上海伟测半导体科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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、准确性和完整性承担法律责任。 二、 说明会召开的时间、地点 1、会议召开时间：2025 年 9 月 25 日（星期四）13:00-14:00 2、会议召开地点：上证路演中心 3、会议召开方式：上证路演中心网络互动 重要内容提示： 投资者可于 2025 年 9 月 18 日（星期四）至 9 月 24 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司投资者关系 邮箱 ir@v-test.com.cn 进行提问。公司将在业绩说明会上对投资者普遍关注的问 题进行回答。 上海伟测半导体科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 21 日披露公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Insights - In the first half of 2025, the company achieved revenue of 634 million yuan, a year-on-year increase of 47.53%, and a net profit attributable to shareholders of 101 million yuan, a significant increase of 831.03% compared to the same period last year [2][4] - The second quarter of 2025 saw the company achieve a revenue of 349 million yuan, a year-on-year increase of 41.68% and a quarter-on-quarter increase of 22.38%, with a net profit of 75 million yuan, reflecting a year-on-year increase of 573.34% and a quarter-on-quarter increase of 189.99% [2][4] - The company is entering a high-growth phase driven by increased demand, high capacity utilization, and rapid expansion [4] Summary by Sections Financial Performance - For 2025H1, the company reported a net profit of 101 million yuan, with a non-recurring net profit of 54 million yuan, showing a year-on-year increase of 1173.61% [2][4] - In 2025Q2, the gross margin reached 35.99%, an increase of 5.93 percentage points year-on-year, and the net margin was 21.53%, a significant increase of 17 percentage points year-on-year [4] Industry Outlook - The semiconductor industry is expected to continue its optimistic growth trajectory, driven by high growth in AIoT, industrial control, and automotive electronics [4] - The demand for high-end chips and high-reliability chip testing is increasing as many domestic high-end chips enter mass production [4] Expansion Strategy - The company is focusing on high-performance chip testing and has announced a convertible bond project to further procure high-end core equipment [4] - Capital expenditures in 2025Q2 reached 594 million yuan, a year-on-year increase of 77.71%, indicating aggressive expansion in its three major bases [4] Revenue and Profit Forecast - The company is projected to achieve revenues of 1.62 billion yuan, 2.16 billion yuan, and 2.98 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding net profits of 275 million yuan, 418 million yuan, and 670 million yuan [4]

Group 1 - The core viewpoint of the news is that Shanghai Weicai Semiconductor Technology Co., Ltd. has seen a significant stock price increase of 5.22%, reaching 75.16 CNY per share, with a total market capitalization of 11.195 billion CNY [1] - The company was established on May 6, 2016, and went public on October 26, 2022. Its main business includes wafer testing, chip finished product testing, and related integrated circuit testing services [1] - The revenue composition of the company is as follows: wafer testing accounts for 55.40%, chip finished product testing for 40.09%, and other services for 4.51% [1] Group 2 - According to the data, Debon Fund's Debon Semiconductor Industry Mixed Initiation A (014319) has entered the top ten circulating shareholders of Weicai Technology, holding 1.4323 million shares, which is 1.39% of the circulating shares [2] - The fund has achieved a year-to-date return of 42.68%, ranking 960 out of 8175 in its category, and a one-year return of 104.14%, ranking 301 out of 7982 [2] - The fund manager, Lei Tao, has been in position for 3 years and 259 days, with the fund's total asset size at 3.689 billion CNY and a best return of 199.87% during his tenure [3]

股票简称：伟测科技 股票代码：688372.SH 债券简称：伟测转债 债券代码：118055.SH 上海伟测半导体科技股份有限公司 向不特定对象发行可转换公司债券 第四次临时受托管理事务报告 本报告依据《公司债券发行与交易管理办法》《上海伟测半导体科技股份有 限公司向不特定对象发行可转换公司债券受托管理协议》（以下简称《受托管理 协议》）《上海伟测半导体科技股份有限公司向不特定对象发行可转换公司债券 募集说明书》（以下简称《募集说明书》）等相关规定，以及上海伟测半导体科 技股份有限公司（以下简称公司、伟测科技或发行人）出具的相关说明文件以及 提供的相关资料等，由本次债券受托管理人平安证券股份有限公司（以下简称平 安证券）编制。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为平安证券所作的承诺 或声明。请投资者独立征询专业机构意见，在任何情况下，投资者不能将本报告 作为投资行为依据。 （2025 年度） 受托管理人：平安证券股份有限公司 二〇二五年九月 重要声明 平安证券作为伟测科技向不特定对象发行可转换公司债券（债券简称："伟 测转债" ...

上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于上海伟测半导体科技股份有限公司 上海市锦天城律师事务所 关于上海伟测半导体科技股份有限公司 2025 年第三次临时股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 2025 年第三次临时股东大会的 法律意见书 致：上海伟测半导体科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海伟测半导体科技 股份有限公司（以下简称"公司"）委托，就公司召开 2025 年第三次临时股东 大会（以下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司 法》（以下简称"《公司法》"）等法律、法规、规章和其他规范性文件以及 《上海伟测半导体科技股份有限公司章程》（以下简称"《公司章程》"）的有 关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业 务管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履 行了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东大会所涉及 ...

证券代码：688372 证券简称：伟测科技 公告编号：2025-074 转债代码：118055 转债简称：伟测转债 上海伟测半导体科技股份有限公司 2025年第三次临时股东大会决议公告 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 9 月 9 日 （二） 股东大会召开的地点：无锡市新吴区电科路 2 号（无锡新厂） （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 | 86 | | --- | --- | | 普通股股东人数 | 86 | | 2、出席会议的股东所持有的表决权数量 | 53,172,050 | | 普通股股东所持有表决权数量 | 53,172,050 | | 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比例 | 35.6995 | | （%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（% ...

Core Insights - On September 5, Weicet Technology's stock rose by 1.95%, with a trading volume of 539 million yuan [1] - The company reported a financing buy-in of 45.72 million yuan and a financing repayment of 47.29 million yuan on the same day, resulting in a net financing outflow of 1.57 million yuan [1] - As of September 5, the total margin balance for Weicet Technology was 394 million yuan, with a financing balance of 393 million yuan, accounting for 5.05% of its market capitalization [1] Financing Summary - On September 5, Weicet Technology had a financing buy-in of 45.72 million yuan, with a current financing balance of 393 million yuan, which is below the 50th percentile level over the past year [1] - The company’s margin trading showed a high level, with a short selling balance of 93.39 million yuan, exceeding the 80th percentile level over the past year [1] Company Performance - As of June 30, Weicet Technology had 12,500 shareholders, an increase of 18.36% from the previous period, with an average of 8,217 circulating shares per shareholder, up by 10.29% [2] - For the first half of 2025, Weicet Technology achieved a revenue of 634 million yuan, representing a year-on-year growth of 47.53%, and a net profit attributable to shareholders of 101 million yuan, a significant increase of 831.03% [2] - The company has distributed a total of 149 million yuan in dividends since its A-share listing [2] Shareholder Composition - As of June 30, 2025, the top ten circulating shareholders included notable institutional investors, with Southern Science and Technology Innovation Board 3-Year Open Mixed Fund holding 1.6014 million shares, an increase of 653,800 shares [2] - New institutional shareholders included Debang Semiconductor Industry Mixed Fund and Southern CSI 1000 ETF, with holdings of 1.4323 million shares and 977,400 shares, respectively [2]

Group 1 - The semiconductor stocks in the A-share market experienced a collective pullback, with significant declines observed in several companies [1] - Yuanjie Technology saw a drop of over 10%, while Cambricon and Tongfu Microelectronics fell by more than 7% [1] - Other companies such as Liyang Chip and Chengdu Huamei also reported declines exceeding 6% [1] Group 2 - Yuanjie Technology's market capitalization is 30.6 billion, with a year-to-date increase of 165.87% despite the recent decline of 10.42% [2] - Cambricon's market capitalization stands at 546.1 billion, with a year-to-date increase of 98.38%, experiencing a drop of 7.09% [2] - Tongfu Microelectronics has a market capitalization of 49.9 billion and a year-to-date increase of 11.39%, with a recent decline of 7.07% [2]

Core Points - The company is holding its third extraordinary general meeting of shareholders on September 9, 2025, to discuss key proposals including the cancellation of the supervisory board and changes to the registered capital [4][5][6] Meeting Rules - The meeting will ensure the protection of shareholders' rights and maintain order and efficiency, with a designated secretariat to manage proceedings [1] - Shareholders must present valid identification and may only speak after registering in advance [2][3] - Voting will be conducted by a named ballot, with each share representing one vote [2][3] Agenda - The main agenda includes announcing attendees, reading meeting rules, reviewing proposals, allowing shareholder questions, and voting on the proposals [5][6] Proposal One: Cancellation of Supervisory Board and Capital Changes - The company plans to abolish the supervisory board, transferring its powers to the audit committee of the board of directors [6][7] - The registered capital will change from RMB 113,834,777 to RMB 148,943,529, following the completion of stock incentive plans and profit distribution [7][8] - Amendments to the company's articles of association will be made to align with these changes, effective upon shareholder approval [7][8] Proposal Two: Governance System Revisions - The company aims to establish, revise, and abolish certain governance systems to enhance internal governance mechanisms [8] - Details of these changes will be disclosed on the Shanghai Stock Exchange website [8]