证券代码：688439 证券简称：振华风光 公告编号：2025-032 贵州振华风光半导体股份有限公司 2025年第一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 表决情况： （一） 股东大会召开的时间：2025 年 9 月 8 日 （二） 股东大会召开的地点：贵州省贵阳市高新区高纳路 819 号贵州振华风光 半导体股份有限公司 101 办公大楼 5 楼会议室 （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 | 128 | | --- | --- | | 普通股股东人数 | 128 | | 2、出席会议的股东所持有的表决权数量 | 124,404,541 | | 普通股股东所持有表决权数量 | 124,404,541 | | 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 | 62.2022 | | 例（%） | | | 普通股股东所持 ...

中信证券股份有限公司 关于贵州振华风光半导体股份有限公司 2025 半年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为贵州振 华风光半导体股份有限公司（以下简称"振华风光"或"公司"或"上市公司"） 首次公开发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理 办法》、《上海证券交易所科创板股票上市规则》等相关规定，中信证券履行持 续督导职责，并出具本持续督导半年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 8 月 21 日对公司进行了募集资金半年度现场检查。 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制度； （3）查阅公司与 ...

Core Viewpoint - Zhuhai Wind Power experienced a decline of 0.55% on September 1, with a trading volume of 201 million yuan, indicating a potential concern regarding its stock performance and investor sentiment [1] Financing Summary - On September 1, Zhuhai Wind Power had a financing buy-in amount of 28.14 million yuan and a financing repayment of 27.08 million yuan, resulting in a net financing buy of 1.06 million yuan [1] - As of September 1, the total financing and securities lending balance for Zhuhai Wind Power was 444 million yuan, which accounts for 3.73% of its circulating market value, indicating a high level of financing activity compared to the past year [1] - The company repaid 2,000 shares in securities lending and sold 3,000 shares on the same day, with a selling amount of 178,400 yuan, while the securities lending balance was 587,000 yuan, which is below the 20th percentile level over the past year [1] Financial Performance - For the first half of 2025, Zhuhai Wind Power reported a revenue of 465 million yuan, a year-on-year decrease of 23.90%, and a net profit attributable to shareholders of 62.37 million yuan, down 73.03% year-on-year [2] - Since its A-share listing, Zhuhai Wind Power has distributed a total of 249 million yuan in dividends [3] Shareholder Structure - As of June 30, 2025, the number of shareholders for Zhuhai Wind Power increased by 13.18% to 10,000, while the average circulating shares per person decreased by 11.65% to 11,339 shares [2] - Among the top ten circulating shareholders, E Fund Defense Industry Mixed A (001475) is the second-largest shareholder with 3.55 million shares, a decrease of 798,000 shares from the previous period [3] - New entrants among the top ten shareholders include Guotai CSI Military Industry ETF (512660) and Southern CSI 1000 ETF (512100), holding 1.19 million shares and 929,500 shares respectively [3]

贵州振华风光半导体股份有限公司 贵州振华风光半导体股份有限公司 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司股东会规则》以及《贵州振华风光半导体股份有限公司章程》《贵州振华 风光半导体股份有限公司股东大会议事规则》等相关规定，特制定贵州振华风光 半导体股份有限公司（以下简称"公司"）2025 年第一次临时股东大会会议须 知： 一、为确认出席大会的股东或其股东代理人或其他出席者的出席资格，会议 工作人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，务必 请出席大会的股东或其股东代理人或其他出席者在会议召开前 30 分钟到会议现 场办理签到手续，并请按规定出示证券账户卡、身份证明文件或法人单位证 明、授权委托书等，上述登记材料均需提供复印件一份，个人登记材料复印件须 个人签字，法定代表人证明文件复印件须加盖公司公章，经验证后领取会议资 料，方可出席会议。在会议主持人宣布现场出席会议的股东和股东代理人人数及 所持有的表决权数量之前，会议 ...

贵州振华风光半导体股份有限公司2025年第一次临时股东大会会议资料 2025年 9月 8日 贵州振华风光半导体股份有限公司2025年第一次临时股东大会会议资料 贵州振华风光半导体股份有限公司 2025年第一次临时股东大会会议资料 目录 | 2025年第一次临时股东大会会议须知 - | 1 | - | | --- | --- | --- | | 2025年第一次临时股东大会会议议程 - | 4 | - | | - | 5 | - | | 议案一：关于取消监事会及修订《公司章程》的议案 | | | | 议案二：关于制定和修订公司部分治理制度的议案 | - 6 | - | 贵州振华风光半导体股份有限公司2025年第一次临时股东大会会议资料 贵州振华风光半导体股份有限公司 2025年第一次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司股东会规则》以及《贵州振华风光半导体股份有限公司章程》《贵州振华 风光半导体股份有限公司股东大会议事规则》等相关规定，特制定贵州振华风光 半导体股份有限公司（以下简 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 73.79 CNY [4][2] Core Views - The company's performance is under short-term pressure due to price reductions, but it is effectively expanding its market and product categories, indicating a positive long-term outlook [1][7] - In H1 2025, the company achieved revenue of 465 million CNY, a decrease of 23.90% year-on-year, and a net profit attributable to the parent company of 62 million CNY, down 73.03% [1] - The company is focusing on new product development and market expansion, with significant breakthroughs in new product R&D and orders [7] Financial Summary - Revenue projections for 2025 are adjusted to 1,198 million CNY, with an estimated EPS of 1.57 CNY [2] - The company expects revenue growth of 12.7% in 2025, followed by 26.0% in 2026 and 23.6% in 2027 [10] - The gross margin is projected to decline to 60.9% in 2025, with a recovery to 63.5% in 2026 and 64.4% in 2027 [10] - The net profit margin is expected to be 26.2% in 2025, improving to 30.1% in 2026 and 33.3% in 2027 [10] - The company is positioned as a leading supplier of high-reliability amplifiers in the military integrated circuit sector, benefiting from industry growth [7]

Core Viewpoint - On August 26, a total of 2 listed companies had their restricted shares unlocked, with a total market value of approximately 6.179 billion yuan [1]. Group 1: Company Specifics - Company Jinlu Electronics (stock code: 301282) had 7.48 million shares of pre-issue restricted shares released [2]. - Company Zhenhua Wind Power (stock code: 688439) had 86.0824 million shares released [2].

Summary of Key Points Core Viewpoint - On August 26, a total of 7 companies had their restricted shares unlocked, with a total unlock volume of 149 million shares, amounting to a market value of 6.802 billion yuan based on the latest closing price [1]. Unlock Volume - Three companies had unlock volumes exceeding 10 million shares: - Zhenhua Wind Power: 86.0824 million shares - Jiacheng International: 33.2236 million shares - Xiaofang Pharmaceutical: 14.4 million shares [1]. Unlock Market Value - Three companies had unlock market values exceeding 100 million yuan: - Zhenhua Wind Power: 5.238 billion yuan - Xiaofang Pharmaceutical: 512 million yuan - Jiacheng International: 417 million yuan [1]. Unlock Ratio - One company had an unlock ratio exceeding 10%: - Zhenhua Wind Power: 43.04% - Xiaofang Pharmaceutical: 8.97% - Jiacheng International: 6.5% [1].

Group 1 - The core viewpoint of the news is that Zhuhai Wind Power (振华风光) has experienced a significant decline in both revenue and net profit in its latest financial report, indicating potential challenges for the company moving forward [1][3] - As of August 25, 2025, Zhuhai Wind Power's stock closed at 60.85 yuan, down 0.83%, with a turnover rate of 5.95% and a trading volume of 67,800 hands, amounting to a transaction value of 413 million yuan [1] - The company's latest financial results show total operating revenue of 465 million yuan, a year-on-year decrease of 23.90%, and a net profit attributable to shareholders of 62.37 million yuan, down 73.03% year-on-year [1] Group 2 - The company has a current ratio of 11.644, a quick ratio of 10.078, and a debt-to-asset ratio of 9.31%, indicating a strong liquidity position despite the decline in profitability [1] - Zhuhai Wind Power has made one external investment, participated in 447 bidding projects, and holds 258 patents along with 2 trademark registrations [2]

证券日报网讯振华风光8月25日在互动平台回答投资者提问时表示，公司专注于高可靠集成电路领域的 技术研发，其中，磁编码器技术通过其高精度、高可靠性、环境适应性、快速响应、紧凑设计以及无源 多圈记忆能力，有效地解决了人形机器人在运动控制、环境适应、结构设计、断电记忆和成本控制等多 个方面的关键问题，为人形机器人的性能提升和实用化进程提供了重要的技术支撑。 ...