截至发稿，上海复旦(01385.HK)跌6.29%、华虹半导体(01347.HK)跌4.37%、中芯国际(00981.HK)跌 2.62%。 ...

Core Viewpoint - Shanghai Fudan (01385) has issued a profit warning, expecting a slight increase in revenue but a significant decrease in net profit for the first half of the year [1] Financial Performance - The company anticipates revenue between 1.82 billion to 1.85 billion RMB, representing an increase of 1.4% to 3.1% year-on-year [1] - Net profit is expected to be between 180 million to 210 million RMB, reflecting a year-on-year decrease of 39.7% to 48.3% [1] - Other income has declined by approximately 68 million RMB due to reduced VAT deductions for integrated circuit design enterprises and a decrease in government subsidies [1] - The company has recognized an increase in inventory impairment losses of about 140 million RMB [1] Strategic Developments - On July 28, the company entered into a technical service contract with Fudan University to develop ultra-large-scale FPGA layout and routing technology [1] - The overall business goal is to become a market leader in China's IC design and system integration sector, aiming to be a global leader in specialized application IC design [1] - The development of ultra-large-scale FPGA technology is expected to enhance the company's technical capabilities and contribute positively to revenue and performance [1]

Core Insights - On July 29, 2023, brokerage firms provided target prices for listed companies, with notable increases for companies such as Ecovacs, Yingke Medical, and Ruina Intelligent, showing target price increases of 46.04%, 39.79%, and 38.85% respectively, across the small appliances, medical devices, and general equipment sectors [1][2]. Group 1: Target Price Increases - Ecovacs (603486) received a target price of 112.00 with a target increase of 46.04% from CITIC Securities [2]. - Yingke Medical (300677) has a target price of 45.00, reflecting a 39.79% increase, also from CITIC Securities [2]. - Ruina Intelligent (301129) was assigned a target price of 35.63, indicating a 38.85% increase from Guotai Junan Securities [2]. Group 2: Brokerage Recommendations - A total of 32 listed companies received brokerage recommendations on July 29, with Dongpeng Beverage receiving 5 recommendations, Hai Da Group 4, and Western Mining 3 [4]. - Dongpeng Beverage (605499) closed at 286.72 and was recommended by 5 firms in the beverage and dairy industry [5]. - Hai Da Group (002311) closed at 54.84 with 4 recommendations in the same sector [5]. Group 3: First Coverage - On July 29, 2023, 3 companies received their first coverage from brokerages, including Ruina Intelligent with an "Increase" rating from Guotai Junan Securities, Yayi International with a "Buy" rating from Shanghai Securities, and Dongpeng Beverage with a "Buy" rating from Qunyi Securities (Hong Kong) [6][7]. - Ruina Intelligent (301129) was rated "Increase" in the general equipment sector [7]. - Yayi International (000893) received a "Buy" rating in the agricultural chemical products sector [7].

Group 1 - The company anticipates a revenue of approximately RMB 1,820 million to RMB 1,850 million for the first half of 2025, representing a year-on-year increase of 1.44% to 3.12% [3] - The expected net profit attributable to the parent company is projected to be around RMB 180 million to RMB 210 million, indicating a year-on-year decrease of 39.67% to 48.29% [3] - The net profit attributable to the parent company after deducting non-recurring gains and losses is estimated to be between RMB 170 million and RMB 200 million, reflecting a year-on-year decline of 35.24% to 44.95% [3] Group 2 - The previous year's revenue was RMB 1,794 million, with a net profit attributable to the parent company of RMB 348 million [5] - The company faces intense market competition, but has achieved growth in various product lines, contributing to an increase in revenue [6] - Other income has decreased due to reduced VAT rebates and government subsidies, while inventory impairment losses have increased due to declining demand and longer inventory aging [7]

Group 1 - The company expects a revenue of approximately RMB 1,820 million to RMB 1,850 million, representing a year-on-year increase of 1.44% to 3.12% [1] - The net profit attributable to the parent company is expected to be around RMB 180 million, reflecting a decrease of 39.67% to 48.29% year-on-year [1] - The net profit attributable to the parent company after deducting non-recurring gains and losses is projected to be approximately RMB 138.82 million, a decrease of 35.24% to 44.95% year-on-year [1] Group 2 - The previous year's revenue was RMB 1,794.10 million, with a net profit of RMB 348.09 million and a net profit after deducting non-recurring gains and losses of RMB 308.82 million [2] - The increase in revenue is attributed to growth in various product lines within the integrated circuit design sector, despite intense market competition [2] - Other income decreased by approximately RMB 68 million due to reduced VAT rebates and government subsidies, while inventory impairment losses increased by about RMB 140 million due to declining demand and longer inventory aging [2]

2024年1至12月份，复旦微电的营业收入构成为：设计及销售集成电路占比96.32%，集成电路测试服务 占比3.68%。 （文章来源：每日经济新闻） 复旦微电（SH 688385，收盘价：53.19元）7月29日晚间发布业绩预告，预计实现归属于母公司所有者 的净利润约为人民币1.8亿元至2.1亿元，与上年同期相比，将减少约1.38亿元至约1.68亿元，同比减少 39.67%~48.29%；业绩变动主要原因是，营业收入和毛利影响。报告期内，公司各产品线所面对的市场 竞争激烈，公司积极拓展新产品和新市场，巩固或扩大市场占有率。除非挥发存储器外，集成电路设计 板块各产品线均取得增长，致营业收入有所提升；综合毛利率水平同比基本稳定。其他收益与资产减值 损失影响。报告期内，公司确认的集成电路设计企业增值税加计抵减额减少，以及政府补助专项验收减 少，使得其他收益下降约6800万；主要因存货中部分产品需求下降及库龄变长等原因，公司基于谨慎性 原则对存货计提减值，本报告确认存货跌价损失同比增加约1.4亿元。 ...

上海复旦(01385.HK)公告，公司预计上半年营业收入约为人民币182,000万元至185,000万元，与去年同 期约为人民币179,409.53万元相比，将增加人民币2,590.47万元至5,590.47万元，同比增加约为1.44%至 3.12%；预计归属于母公司所有者的净利润约为人民币18,000万元至21,000万元，与去年同期约为人民 币34,809.20万元相比，将减少人民币13,809.20万元至16,809.20万元，同比减少约为39.67%至48.29%。 来源：视频滚动新闻 ...

Key Points - The article summarizes important announcements from various listed companies in the Shanghai and Shenzhen stock markets, providing insights for investors [2] Major Events - Xizang Tianlu experienced significant abnormal fluctuations in the trading of its convertible bonds, with a cumulative price increase exceeding 100% over seven trading days, leading to a closing price of 481.80 CNY per bond, representing a premium of 381.80% over the face value [3][4] - Huqin Technology plans to acquire 6% of Jinghe Integrated's shares for 2.393 billion CNY, with a transfer price of 19.88 CNY per share [4][5] - Liyuan Technology's actual controller received a criminal judgment for violating information disclosure regulations, resulting in a one-year prison sentence with a one-and-a-half-year probation and a fine of 3.3 million CNY [6] - Huashi Technology's general manager had the detention measures lifted, allowing him to resume his duties [7] - Dongfang Materials' chairman resigned for personal reasons but will continue as a board member [8] - WuXi AppTec adjusted its share repurchase price limit to a maximum of 114.15 CNY per share [9] - ST Haihua's subsidiary plans to acquire 100% of Lixin Dingsheng for 43 million CNY [10] - Xizang Tourism clarified that it has not engaged in business cooperation related to the Yarlung Tsangpo River project amid stock price volatility [11][12] - Yabont Chemical decided to terminate its planned external investment in Gansu Haotian Technology [13] - Zhongbei Communication's subsidiary terminated its acquisition of a 55% stake in PT. Semesta Energi Services due to unmet conditions [14] - Quzhou Development plans to purchase shares of Xiandai Electronics and raise matching funds, leading to a temporary stock suspension [15] - Shenli Co. terminated its control change plan due to the buyer's failure to pay the agreed transaction price [16] Performance Reports - Greenland Holdings reported a 16.93% year-on-year increase in contract sales amounting to 21.752 billion CNY in Q2 2025 [17][18] - Lujiazui's net profit for the first half of 2025 was 815 million CNY, a decrease of 7.87% year-on-year [19] - Hongfa Co. achieved a net profit of 964 million CNY in the first half of 2025, reflecting a 14.19% increase [20] - Nanya New Materials expects a net profit increase of 44.69% to 71.82% in the first half of 2025 [21] - ST Tianwei anticipates a significant net profit increase of approximately 2064.85% year-on-year [22] - Fudan Microelectronics expects a net profit decrease of 39.67% to 48.29% in the first half of 2025 [23][24] - Sains expects a net profit decrease of 57.53% to 60.13% despite revenue growth [25] - Baotai anticipates a net loss reduction of 110 million to 140 million CNY in the first half of 2025 [26] Major Contracts - China CNR signed several major contracts totaling approximately 32.92 billion CNY [27] - Wantong Intelligent Control entered into an exclusive authorization agreement in the embodied intelligence field [28] - Anhui Construction won a bid for a highway concession project with an estimated total investment of 3.614 billion CNY [29] - Tiantian Technology's subsidiary signed a procurement order worth 400 million CNY for copper-lithium composite strips [30] - Daoshi Technology signed a strategic cooperation agreement related to humanoid robots [31] Shareholding Changes - Suzhou Planning's shareholders plan to reduce their holdings by up to 4.5% [32] - Jiahe Meikang's shareholder plans to reduce holdings by up to 3% [33] - Huaye Fragrance's controlling shareholder plans to reduce holdings by up to 3% [34] - Lanfeng Biochemical's shareholder plans to reduce holdings by up to 2.61% [35] - Anji Food's actual controller plans to reduce holdings by up to 2% [37] - Saiwei Electronics' National Integrated Circuit Fund reduced its holdings by 1.06% [38] - Lakala's Lenovo Holdings reduced its holdings by 535,960 shares [39] Share Buybacks - Shima Power plans to repurchase shares worth 300 million to 400 million CNY [40]

上海复旦(01385)发布公告，该集团截至2025年6月30日止半年度(报告期)，预计营业收入约为人民币 18.2亿元(单位下同)至18.5亿元，与去年同期约为17.94亿元相比，将增加2590.47万元至5590.47万元，同 比增加约为1.44%至3.12%;预计归属于母公司所有者的净利润约为1.8亿元至2.1亿元，与去年同期约为 3.48亿元相比，将减少1.38亿元至1.68亿元，同比减少约为39.67%至48.29%;预计归属于母公司所有者的 扣除非经常性损益的净利润约为1.7亿元至2亿元，与去年同期约为3.09亿元相比，将减少1.09亿元至1.39 亿元，同比减少约为35.24%至44.95%。 预期本集团期内取得收入增加及净利润减少的主要原因为报告期内，本公司各产品线所面对的市场竞争 激烈，本公司积极拓展新产品和新市场，巩固或扩大市场占有率，除非挥发存储器外，集成电路设计板 块各产品线均取得增长，致营业收入有所提升;综合毛利率水平同比基本稳定;及报告期内，本公司确认 的集成电路设计企业增值税加计抵减额减少，以及政府补助专项验收减少，使得其他收益下降约6800万 元;主要因存货中部分产品需求下降及库 ...

Core Viewpoint - The company anticipates an increase in revenue but a significant decrease in net profit for the half-year period ending June 30, 2025, primarily due to intense market competition and other financial factors [1][2] Revenue and Profit Forecast - The expected revenue for the period is approximately RMB 1.82 billion to RMB 1.85 billion, representing an increase of RMB 25.9 million to RMB 55.9 million, or about 1.44% to 3.12% year-on-year [1] - The net profit attributable to the parent company is projected to be around RMB 180 million to RMB 210 million, a decrease of RMB 138 million to RMB 168 million, or approximately 39.67% to 48.29% year-on-year [1] - The net profit excluding non-recurring gains and losses is expected to be about RMB 170 million to RMB 200 million, down by RMB 109 million to RMB 139 million, or approximately 35.24% to 44.95% year-on-year [1] Market Conditions and Challenges - The primary reasons for the anticipated revenue increase and net profit decrease include intense market competition across product lines and the company's efforts to expand into new products and markets [2] - The integrated circuit design segment has shown growth in all product lines, contributing to revenue improvement, while the overall gross margin remains stable year-on-year [2] - A reduction in the value-added tax credit for integrated circuit design enterprises and decreased government subsidies has led to a decline in other income by approximately RMB 68 million [2] - The company has recognized an increase in inventory impairment losses of about RMB 140 million year-on-year due to decreased demand and longer inventory aging [2]