Core Viewpoint - The storage chip sector in A-shares is experiencing a strong rally, becoming the leading segment in the semiconductor industry, driven by significant demand from AI applications and a favorable market cycle [1][2] Group 1: Market Performance - The storage chip sector has shown robust performance, with key stocks like Tian'ao Electronics and Hengsuo Co. hitting the daily limit, igniting profit-making sentiment across the sector [1] - There is a notable influx of capital into the market, indicating high recognition of the storage chip industry's cyclical reversal and growth potential [1] Group 2: Industry Dynamics - AI demand is driving a significant increase in high-end storage needs, with Micron Technology reporting a quarterly revenue of $13.6 billion, a 57% year-over-year increase, and a net profit of $5.5 billion, up 169% [1] - The storage requirements for AI servers are eight times that of regular servers, with global AI server shipments expected to grow by 180% in 2025, leading to a 220% surge in high-end storage chip demand [1] Group 3: Price Trends and Inventory Levels - The storage chip industry has seen prices soar, with DDR5 memory prices increasing by 80% from September to December, and HBM2e prices rising nearly 50% [2] - Inventory levels have dropped to a five-year low, with major players like Samsung and Micron reducing production, resulting in inventory levels falling from 12-16 weeks to 2-4 weeks [2] Group 4: Domestic Market Developments - Domestic companies are accelerating their market presence, with Shunming Storage achieving mass production of the first domestic ferroelectric memory, ranking among the top five global suppliers [2] - Changxin Storage's DDR5 memory module has entered the supply chains of major companies like Huawei, with revenue surpassing $1 billion in Q3 2025 [2] Group 5: Benefiting Sectors - The storage chip design and module sector is directly benefiting from the explosion in AI demand and rising prices, with companies like Beijing Junzheng and Jiangbolong positioned to gain from the industry's upward trend [3] - The storage chip materials and equipment sector is also seeing growth due to domestic production expansion and technological advancements, with companies like Shunming Storage achieving full localization of materials and equipment [3] - The AI server and computing equipment sector is experiencing synergistic growth, with a significant increase in demand for AI servers and storage chips [3]

Group 1 - The storage chip sector experienced a significant rally on December 25, with multiple companies seeing substantial stock price increases [1] - Companies such as Hengshuo Co., Tian'ao Electronics, and others reached their daily price limit, indicating strong market interest and investor confidence [1] - Other companies in the sector, including Beijing Junzheng, Xiangnong Xinchuang, Jiangbolong, Demingli, and Purang Co., also saw their stock prices rise, reflecting a broader positive trend in the storage chip industry [1]

Group 1 - The storage chip sector in A-shares has seen a resurgence, with companies like Huahai Chengke (688535.SH) rising by 12.88% and Demingli (001309.SZ) increasing by over 9% [2] - Semiconductor companies such as SMIC (688981.SH) and Xiangnong Chip (300475.SZ) also recorded gains, indicating a positive trend in the market [2] - In the Hong Kong market, SMIC (00981.HK) and Huahong Semiconductor (01347.HK) performed well, reflecting a broader recovery in the storage chip sector [2] Group 2 - Samsung Electronics and SK Hynix have raised HBM3E prices by nearly 20% for the upcoming year, driven by increased demand from companies like Nvidia, Google, and Amazon [3] - The demand for the sixth generation of HBM (HBM4) is expected to rise, leading to increased production capacity investments by storage manufacturers [3] - The ongoing price surge in the storage chip sector may exceed market expectations, potentially leading to significant improvements in the future performance of related companies [3] Group 3 - Micron Technology has confirmed that its entire HBM supply for 2026 has been sold out, with a projected total addressable market (TAM) for HBM expected to reach $100 billion by 2028 [4] - Micron anticipates capital expenditures of $20 billion in 2026 to support HBM and 1-gamma DRAM supply [4] - The domestic storage chip industry is poised to benefit from both price recovery and domestic substitution, leading to improved profitability for related companies [4]

Group 1 - The stock of Hengshuo Co., Ltd. (688416.SH) closed at 50.47 yuan, with a decline of 3.98%, currently in a state of breaking issue [1] - Hengshuo Co., Ltd. was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 29, 2022, with an issuance of 20.66 million new shares, accounting for 25.00% of the total share capital after the issuance, at a price of 65.11 yuan per share [1] - The total amount of funds raised by Hengshuo Co., Ltd. was 1.345 billion yuan, with a net amount of 1.209 billion yuan after deducting issuance costs, which exceeded the original planned fundraising by 455.76 million yuan [1] Group 2 - The funds were originally intended for projects including "NOR Flash memory chip upgrade R&D and industrialization," "general MCU chip upgrade R&D and industrialization," "CiNOR storage-computing integrated AI inference chip R&D project," and "development and technology reserve project" [1] - The total issuance costs amounted to 135.53 million yuan, with Guoyuan Securities receiving underwriting and sponsorship fees of 109.21 million yuan [1] - The controlling shareholders and actual controllers of Hengshuo Co., Ltd. are Xiang Dong Lu (American nationality) and Lü Yinan (Chinese nationality) [2]

恒烁半导体（合肥）股份有限公司 2025 年第四次临时股东会 证券代码：688416 证券简称：恒烁股份 恒烁半导体（合肥）股份有限公司 2025 年第四次临时股东会 会议资料 2025 年 12 月 恒烁半导体（合肥）股份有限公司 2025 年第四次临时股东会 目 录 | 2025 | 年第四次临时股东会会议须知 2 | | --- | --- | | 2025 | 年第四次临时股东会会议议程 4 | | 2025 | 年第四次临时股东会会议议案 6 | | 议案 | 1：《关于使用剩余超募资金永久补充流动资金的议案》 6 | | 议案 | 2：《关于变更注册资本、修订<公司章程>并办理工商变更登记的议案》 9 | 1 恒烁半导体（合肥）股份有限公司 2025 年第四次临时股东会 恒烁半导体（合肥）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，保证股 东会的顺利进行，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》及《恒 烁半导体（合肥）股份有限公司章程》（以下简 ...

格隆汇12月12日丨恒烁股份(688416.SH)公布，2025年12月12日，公司第二届董事会第十三次会议审议 通过了《关于使用剩余超募资金永久补充流动资金的议案》，同意公司使用5798.55万元（含利息收 入，实际金额以资金转出当日专户余额为准）超额募集资金永久补充流动资金。 ...

中国证券监督管理委员会于2022年7月12日下发《关于同意恒烁半导体（合肥） 股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕1255号），同 意公司向社会公众发行人民币普通股（A股）2,066万股。恒烁股份发行价格为 65.11元/股，募集资金总额为134,517.26万元，扣除发行费用（不含税）13,553.22 万元后，实际募集资金净额为120,964.04万元，超募资金总额为45,576.04万元。上 述募集资金于2022年8月24日全部到位，当日经容诚会计师事务所（特殊普通合伙） 审验并出具了"容诚验字[2022]230Z0228号"《验资报告》。募集资金到账后， 公司对资金进行专户存储，公司、保荐机构与募集资金开户行签署了《募集资金 专户存储三方监管协议》。 二、募集资金使用情况 国元证券股份有限公司（以下简称"国元证券"或"保荐机构"）作为恒烁 半导体（合肥）股份有限公司（以下简称"恒烁股份"或"公司"）首次公开发 行股票并在科创板上市（以下简称"首次公开发行"）的保荐机构，根据《证券 发行上市保荐业务管理办法》《上市公司募集资金监管规则》《上海证券交易所 科创板股票上市规则》《上 ...

恒烁半导体（合肥）股份有限公司 章 程 二〇二五年十二月 1 | 第一章 | 总则 3 | | --- | --- | | 第二章 | 经营宗旨和范围 4 | | 第三章 | 股份 4 | | 第一节 | 股份发行 4 | | 第二节 | 股份增减和回购 5 | | 第三节 | 股份转让 6 | | 第四章 | 股东和股东会 7 | | 第一节 | 股东的一般规定 7 | | 第二节 | 控股股东和实际控制人 10 | | 第三节 | 股东会的一般规定 11 | | 第四节 | 股东会的召集 14 | | 第五节 | 股东会的提案与通知 15 | | 第六节 | 股东会的召开 16 | | 第七节 | 股东会的表决和决议 19 | | 第五章 | 董事会 22 | | 第一节 | 董事 22 | | 第二节 | 董事会 26 | | 第三节 | 独立董事 30 | | 第四节 | 董事会专门委员会 32 | | 第六章 | 高级管理人员 34 | | 第七章 | 财务会计制度、利润分配和审计 35 | | 第一节 | 财务会计制度 35 | | 第二节 | 内部审计 39 | | 第三节 | 会计师事务所的聘 ...

证券代码：688416 证券简称：恒烁股份 公告编号：2025-062 本事项已经公司第二届董事会第十三次会议审议通过，尚需提交公司股东会 审议。 一、募集资金基本情况 （一）募集资金金额、资金到账时间 经中国证券监督管理委员会《关于同意恒烁半导体（合肥）股份有限公司首 次公开发行股票注册的批复》（证监许可〔2022〕1255 号）同意注册，公司首 次向社会公众发行人民币普通股 2,066.00 万股，每股面值为人民币 1.00 元，发 行价格为人民币 65.11 元/股，募集资金总额为人民币 1,345,172,600.00 元，扣除 发行费用人民币 135,532,200.00 元（不含增值税），实际募集资金净额为人民币 1,209,640,400.00 元。容诚会计师事务所（特殊普通合伙）对公司本次公开发行 恒烁半导体（合肥）股份有限公司 关于使用剩余超募资金永久补充流动资金的公告 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。 重要内容提示： 超额募集资金金额及使用用途 恒烁半导体（合肥）股份有限公司（以下简称"恒烁股 ...

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。 恒烁半导体（合肥）股份有限公司（以下简称"公司"）于 2025 年 12 月 12 日召开第二届董事会第十三次会议，审议通过了《关于变更注册资本、修订< 公司章程>并办理工商变更登记的议案》，具体情况如下： 一、变更公司注册资本的情况 公司于 2025 年 11 月 21 日收到中国证券登记结算有限责任公司上海分公司 出具的《证券变更登记证明》，公司已完成 2024 年限制性股票激励计划预留授 予部分第一个归属期的股份登记工作。本次限制性股票归属完成后，公司注册资 本由 8,292.9413 万元增加至 8,300.5689 万元，对应公司股本总数由 8,292.9413 万股增加至 8,300.5689 万股。具体内容详见公司于 2025 年 11 月 25 日在上海证 券交易所网站（www.sse.com.cn）披露的《关于 2024 年限制性股票激励计划预 留授予部分第一个归属期归属结果暨股份上市公告》（公告编号：2025-059）。 二、修订《公司章程》的情况 证券代 ...