Core Viewpoint - The company Xin Yi Chang (688383.SH) reported a significant decline in both revenue and net profit for the first half of 2025, primarily due to reduced international business activity and a decrease in orders for smart equipment [1] Financial Performance - The company's operating revenue for the first half of 2025 was 402 million yuan, representing a year-on-year decrease of 28.30% [1] - The net profit attributable to shareholders was 2.6157 million yuan, down 96.05% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.4588 million yuan, also down 96.02% year-on-year [1] - Basic earnings per share were reported at 0.03 yuan [1] Profitability Analysis - Total profit for the company was 7.6779 million yuan, reflecting a year-on-year decrease of 89.54% [1] - The significant drop in profits is attributed to the impact of international trade policies on the downstream customer base, affecting their international business layout and investment willingness in equipment [1] - The reduction in smart equipment orders has directly led to decreased revenue [1]

Core Insights - The company Xin Yi Chang (688383.SH) reported a significant decline in revenue and net profit for the first half of 2025, indicating challenges in its business operations [1] Financial Performance - The company's operating revenue for the first half of 2025 was 402 million yuan, representing a year-on-year decrease of 28.30% [1] - The net profit attributable to shareholders was 2.6157 million yuan, down 96.05% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.4588 million yuan, also down 96.02% year-on-year [1] - Basic earnings per share were reported at 0.03 yuan [1] Profitability Analysis - The total profit for the company was 7.6779 million yuan, reflecting a year-on-year decrease of 89.54% [1] - The significant drop in profits is attributed to the impact of international trade policies on the downstream customer base, affecting international business layout and equipment investment willingness [1] - A reduction in smart equipment orders has led to decreased revenue [1]

Core Viewpoint - New Yichang (688383.SH) reported a significant decline in both revenue and net profit for the first half of 2025, primarily due to the impact of international trade policies on downstream customers and a reduction in smart equipment orders [1] Financial Performance - The company achieved operating revenue of 402 million yuan, representing a year-on-year decrease of 28.30% [1] - Net profit attributable to shareholders was 2.6157 million yuan, down 96.05% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 2.4588 million yuan, also down 96.02% year-on-year [1] - Basic earnings per share stood at 0.03 yuan [1] Market Impact - The decline in revenue and profit is attributed to the adverse effects of international trade policies on the international business layout of downstream customer groups and their willingness to invest in equipment [1] - A decrease in orders for smart equipment has further contributed to the revenue drop [1]

Core Viewpoint - Open Source Securities issued a report on August 10, giving a "Buy" rating to Xinyi Chang (688383.SH) based on positive market trends and growth opportunities in advanced packaging and robotics [2] Group 1: Market Trends - The company is benefiting from the expansion of the display market and the increasing penetration of Mini/MicroLED technologies, leading to a positive trend in order recovery [2] Group 2: Business Expansion - The company is expanding its advanced packaging and robotics business, which opens up new growth opportunities [2] - The self-research of core components and the accumulation of algorithms are creating competitive barriers for the company [2]

Core Viewpoint - New Yi Chang is positioned to benefit from the accelerating demand for LED die bonding equipment, with growth opportunities in advanced packaging and robotics, leading to a "buy" rating from analysts [1][2]. Group 1: LED Business and Market Trends - The demand for LED products is improving, driven by the expansion of LED manufacturers and the penetration of Mini/Micro LED technologies. The company is expected to see significant performance growth as a result [2][3]. - The global Mini LED market is projected to exceed $3.3 billion by 2028, with a compound annual growth rate (CAGR) of approximately 40% from 2024 to 2028. The Micro LED market is expected to surpass $10 billion by 2027 [3]. Group 2: Advanced Packaging and Robotics Expansion - The company is expanding its semiconductor die bonding machine product line and plans to introduce wire bonding and testing packaging equipment in 2025, which will enhance its product offerings [4]. - The company has developed core components such as drivers and high-precision motors in-house, creating a competitive edge in the robotics sector. This strategic shift is expected to enhance market entry and growth potential [4]. Group 3: Financial Projections - The projected net profits for New Yi Chang are estimated to be 40 million yuan in 2025, 140 million yuan in 2026, and 270 million yuan in 2027. The current stock price corresponds to price-to-earnings (PE) ratios of 196.0, 53.1, and 27.8 for the years 2025 to 2027, respectively [2][6].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is a global leader in LED die-bonding equipment and is benefiting from the expansion of LED manufacturers and the penetration of Mini/Micro LED technologies. The company is also expanding into semiconductor and robotics businesses, which is expected to open up new revenue growth opportunities. The projected net profit for 2025-2027 is estimated at 0.4/1.4/2.7 billion yuan, with corresponding PE ratios of 196.0/53.1/27.8 [6][53]. Summary by Sections LED Market Recovery and Mini/Micro LED Penetration - The LED market is recovering, with a focus on expanding Mini/Micro LED production. In the first half of 2025, there were 56 disclosed LED display-related projects with a total investment exceeding 112 billion yuan. The Mini LED global market is expected to exceed 3 billion USD by 2028, with a compound annual growth rate (CAGR) of approximately 40% from 2024 to 2028 [15][21]. Advanced Packaging and Robotics Business Expansion - The company is actively expanding its semiconductor die-bonding product line and has introduced new wire bonding and testing packaging equipment in 2025. The advanced packaging market is expected to grow significantly, driven by the demand for high-performance computing and AI chips. The global advanced packaging market is projected to reach 69.5 billion USD by 2029, with a CAGR of 11% from 2023 to 2029 [26][29]. Financial Summary and Valuation Metrics - The company's revenue is projected to grow from 1.04 billion yuan in 2023 to 1.58 billion yuan in 2027, with year-over-year growth rates of 15.3%, 17.1%, and 25.7% respectively. The gross margin is expected to improve from 30.6% in 2023 to 37.1% in 2027 [9][50]. Robotics Market Growth - The global robotics market is expected to exceed 400 billion USD by 2029, with China accounting for nearly half of this market. The company has established a new subsidiary focused on robotics and AI development, leveraging its expertise in core components and software algorithms to enhance its competitive edge in the market [41][43].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688383 证券简称：新益昌 公告编号：2025-041 深圳新益昌科技股份有限公司 关于向2025年限制性股票激励计划激励对象首次授予限制性股票的公告 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。 ● 限制性股票首次授予日：2025年8月7日 ● 限制性股票首次授予数量：84.24万股，约占目前公司股本总额的0.82% ● 股权激励方式：第二类限制性股票 《深圳新益昌科技股份有限公司2025年限制性股票激励计划（草案）》（以下简称"《激励计划（草 案）》"）规定的限制性股票授予条件已经成就，根据深圳新益昌科技股份有限公司（以下简称"公 司"、"本公司"）2025年第一次临时股东会授权，公司于2025年8月7日召开第三届董事会薪酬与考核委 员会第二次会议、第三届董事会第三次会议，审议通过了《关于向2025年限制性股票激励计划激励对象 首次授予限制性股票的议案》，确定公司2025年限制性股票激励计划（以下简称"本激励计划"）的授予 日为2025年8月7日，并以28 ...

一、董事会会议召开情况 深圳新益昌科技股份有限公司（以下简称"公司"）第三届董事会第三次会 议于 2025 年 8 月 7 日在深圳市宝安区新安街道海旺社区兴业路瑞湾大厦 15 楼公 司会议室以现场结合通讯方式召开。本次会议通知已于 2025 年 8 月 4 日以电子 邮件的方式送达。本次会议由董事长胡新荣先生主持。本次会议应出席董事 7 人，实际出席董事 7 人。会议内容以及召集、召开的方式、程序均符合《中华人 民共和国公司法》（以下简称"《公司法》"）和《深圳新益昌科技股份有限公司 章程》（以下简称"《公司章程》"）的有关规定。 证券代码：688383 证券简称：新益昌 公告编号：2025-042 深圳新益昌科技股份有限公司 第三届董事会第三次会议决议公告 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。 (二)审议通过《关于向 2025 年限制性股票激励计划激励对象首次授予限制 性股票的议案》 二、董事会会议审议情况 经与会董事投票表决，审议通过了以下议案： (一)审议通过了《关于调整 2025 年限制性股票激励计划首次 ...

证券代码：688383 证券简称：新益昌 公告编号：2025-040 深圳新益昌科技股份有限公司 关于调整 2025 年限制性股票激励计划首次授予 激励对象名单及授予数量的公告 一、本次股权激励计划已履行的相关审批程序 （一）2025 年 5 月 23 日，公司召开第三届董事会薪酬与考核委员会第一次 会议，会议审议通过《关于 <公司 ensp="ensp" 年限制性股票激励计划="年限制性股票激励计划" 草案 ="草案"> 及其摘 《关于 <公司 ensp="ensp" 年限制性股票激励计划实施考核管理办法="年限制性股票激励计划实施 考核管理办法"> 的议案》 要的议案》 以及《关于核查 <公司 ensp="ensp" 年限制性股票激励计划激励对象名单="年限制性股票激励计划激励 对象名单"> 的议案》，公 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。 深圳新益昌科技股份有限公司（以下简称"公司"）于 2025 年 8 月 7 日召 开了第三届董事会第三次会议和第三届董事会薪酬与考核委员会第二次会议，分 别审议通过了《关 ...

股东会时公司股本总额的 20.00%。 深圳新益昌科技股份有限公司董事会 控制人及其配偶、父母、子女以及外籍员工。 深圳新益昌科技股份有限公司 一、限制性股票激励计划的分配情况 本激励计划授予的限制性股票在各激励对象间的分配情况如下表所示： 占本激励计 获授的限制 占拟授予权益总 划草案公告 姓名 国籍 职务 性股票数量 额的比例 时公司总股 （万股） 本的比例 一、董事、高级管理人员、核心技术人员 刘小环 中国 董事、董事会秘书 2.00 1.90% 0.02% 职工代表董事、 梁志宏 中国 2.00 1.90% 0.02% 核心技术人员 王丽红 中国 财务总监 2.00 1.90% 0.02% 周赞 中国 核心技术人员 2.00 1.90% 0.02% 王腾 中国 核心技术人员 0.50 0.47% 0.00% 二、其他激励对象 中层管理人员、骨干员工及董事会认为需 要激励的其他人员（共 181 人） 三、预留部分 21.28 20.17% 0.21% 合计 105.52 100.00% 1.01% 注：1、上述任何一名激励对象通过全部在有效期内的股权激励计划获授的本公司股票均未超过公司 股 本总额的 1 ...