Core Viewpoint - WI Harper Fund VII plans to reduce its stake in Meixin Sheng by up to 1.1154 million shares, representing no more than 1% of the company's total share capital [1] Group 1: Shareholder Actions - As of the announcement date, WI Harper Fund VII holds 6.24 million shares, accounting for 5.59% of the total share capital [1] - The reduction will be executed through centralized bidding and block trading methods, with a timeframe of three months starting from 15 trading days after the announcement [1] - The selling price will be determined based on market prices, and any changes in share capital during this period will adjust the number and proportion of shares to be sold accordingly [1] Group 2: Compliance and Rationale - The reduction is attributed to the shareholder's personal needs and complies with relevant laws and regulations [1]

9月24日，美芯晟涨5.06%，截至发稿，报49.25元/股，成交1.43亿元，换手率3.52%，总市值54.93亿 元。 资料显示，美芯晟科技(北京)股份有限公司位于北京市海淀区中关村东升科技园·东畔科创中心B座12 层，成立日期2008年3月11日，上市日期2023年5月22日，公司主营业务涉及高性能模拟及数模混合芯片 研发和销售的集成电路设计。 从基金十大重仓股角度 数据显示，鹏华基金旗下1只基金重仓美芯晟。鹏华增瑞混合(LOF)A（160642）二季度减持556股，持 有股数6.45万股，占基金净值比例为3.85%，位居第六大重仓股。根据测算，今日浮盈赚取约15.28万 元。 截至发稿，汪坤累计任职时间5年28天，现任基金资产总规模90.34亿元，任职期间最佳基金回报 50.36%， 任职期间最差基金回报-4.59%。 陈大烨累计任职时间4年50天，现任基金资产总规模3.95亿元，任职期间最佳基金回报48.89%， 任职期 间最差基金回报-30.47%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等 ...

Group 1 - The core viewpoint of the news highlights the financial performance and market activity of Meixinsheng Technology, indicating a significant increase in revenue and net profit, alongside notable trading activity in its stock [1][2][3] Group 2 - As of June 30, Meixinsheng reported a total of 6,070 shareholders, an increase of 9.09% from the previous period, with an average of 14,014 circulating shares per shareholder, a decrease of 7.11% [2] - For the period from January to June 2025, Meixinsheng achieved operating revenue of 265 million yuan, representing a year-on-year growth of 36.83%, and a net profit attributable to shareholders of 5.01 million yuan, reflecting a year-on-year increase of 131.25% [2] - Since its A-share listing, Meixinsheng has distributed a total of 7.88 million yuan in dividends [3] - Among the top ten circulating shareholders as of June 30, 2025, Xinao Advanced Manufacturing Stock A (006257) ranked as the fourth largest shareholder with 2.3682 million shares, an increase of 228,000 shares from the previous period [3]

Group 1 - The core point of the article is that Meixinsheng (688458.SH) has clarified that its products are not currently used in Apple smartphones, although it maintains cooperative relationships with some Apple accessory manufacturers [1] Group 2 - The company is actively engaging with investors through an interactive platform to provide updates on its product usage and partnerships [1] - The statement indicates a strategic positioning of the company within the Apple supply chain, highlighting its role in the accessory market rather than direct smartphone manufacturing [1]

Core Viewpoint - The analog chip industry is entering an upward cycle, with expected global market growth of 3.3% in 2025 and 5.1% in 2026, reaching $82.2 billion and $86.4 billion respectively. The long-term growth is driven by AI applications such as data centers, autonomous driving, and humanoid robots, indicating significant potential for domestic companies [3][7][12]. Industry Overview - The global analog chip market has a CAGR of 4.77% from 2004 to 2024, with a projected market size of $79.6 billion in 2024, which is a 2.0% decrease from the previous year. The market is expected to recover in 2025 and 2026 [3][12]. - The Chinese analog chip market is projected to reach ¥195.3 billion in 2024, with a CAGR of 11% from 2025 to 2029. The market is driven by sectors such as industrial, automotive, and AI [18][21]. Key Applications and Growth Areas - Key growth areas for analog chips include industrial applications, AI, and automotive sectors. The industrial sector is expected to see a recovery in procurement and new product introductions, while the automotive sector is experiencing a shift towards electrification and intelligence [7][21][37]. - AI applications are expected to significantly increase the demand for analog chips, particularly in power management and signal processing [31][34]. Domestic Market Potential - China accounts for approximately 35% of the global analog chip market, making it a crucial revenue source for international manufacturers. However, the domestic self-sufficiency rate remains low, indicating substantial room for growth [7][34]. - Major international players like TI and ADI derive significant revenue from China, with TI's revenue from China estimated at $3 billion in 2024, while ADI's is around $2.1 billion [34][35]. Competitive Landscape - The competitive landscape is characterized by a mix of established international firms and emerging domestic players. The industry is seeing increased competition as domestic companies aim to capture market share in high-end applications [51][52]. - The growth model for analog chip companies often involves a combination of product diversification and customer base expansion, with established firms leveraging extensive product lines and customer relationships to drive revenue [23][28]. Investment Strategy - The report recommends investing in companies with high-end and platform capabilities, as these firms are better positioned to capitalize on the growth opportunities in the analog chip market [5][8].

Group 1: Communication Industry Insights - The communication industry is experiencing a positive spillover effect from AI computing power, with both domestic and international demand resonating [5][7]. - In H1 2025, 226 listed companies in the communication sector reported a total revenue of 1,969.54 billion, a year-on-year increase of 11.2% [5]. - The overall gross margin for the communication industry in Q2 2025 was 25.2%, with a slight year-on-year decrease of 1.3 percentage points [5]. Group 2: Individual Company Performance - China Resources Beer - China Resources Beer is positioned as a leader in the Chinese beer industry, with a focus on high-end product strategies driving revenue per ton and profit margin improvements [9][10]. - The company’s revenue forecasts for 2025-2027 are 38.87 billion, 40.65 billion, and 42.20 billion respectively, with net profits expected to be 5.89 billion, 6.29 billion, and 6.79 billion [10]. - The implementation of a "three precision management" strategy has led to an increase in gross margin to 48.9% and net profit margin to 24.0% in H1 2025 [9][10]. Group 3: Company Performance - Peak Technology - Peak Technology achieved a revenue of 375 million in H1 2025, representing a year-on-year growth of 32.84% [13][14]. - The company is expanding into automotive and robotics sectors, with revenue forecasts for 2025-2027 set at 760 million, 949 million, and 1.212 billion respectively [14]. - The decline in net profit by 4.52% in H1 2025 was attributed to increased stock incentive expenses, but excluding this, net profit would have grown by 18.69% [14]. Group 4: Company Performance - Longxun Co., Ltd. - Longxun Co., Ltd. reported a revenue of 247 million in H1 2025, with a year-on-year increase of 11.35% [17][18]. - The company is focusing on automotive electronics, with expectations for revenue growth driven by the SerDes product line, which is entering full market promotion [18][19]. - Revenue forecasts for Longxun Co., Ltd. for 2025-2027 are 705 million, 1.119 billion, and 1.450 billion respectively [19]. Group 5: Company Performance - Fuzhijun Technology - Fuzhijun Technology achieved a revenue of 519 million in H1 2025, with a year-on-year increase of 18.10% [21][22]. - The company is focusing on the ultra-precision optical field, with significant growth in its subsidiary, achieving a revenue of 76.1 million in 2024, a year-on-year increase of 180.08% [23]. - Revenue forecasts for Fuzhijun Technology for 2025-2027 are 1.031 billion, 1.165 billion, and 1.306 billion respectively [23]. Group 6: Company Performance - Meixinsheng - Meixinsheng reported a revenue of 265 million in H1 2025, reflecting a year-on-year growth of 36.83% [25][26]. - The optical sensor business saw a significant increase in revenue, driven by demand from leading smartwatch brands [26]. - Revenue forecasts for Meixinsheng for 2025-2027 are 653 million, 1.043 billion, and 1.417 billion respectively [27].

中信建投证券股份有限公司 关于美芯晟科技（北京）股份有限公司 2025 年持续督导半年度报告书 | 保荐人名称：中信建投证券股份有限 | 上市公司名称：美芯晟科技（北京）股 | | --- | --- | | 公司 | 份有限公司 | | 保荐代表人姓名：王桐 | 联系方式：010-86451335 联系地址：北京市朝阳区景辉街 16 号院 | | | 号楼泰康集团大厦 层 1 10 | | 保荐代表人姓名：董军峰 | 联系方式：021-68801585 528 | | | 联系地址：上海市浦东新区浦东南路 | | | 号上海证券大厦北塔 室 2203 | 经中国证券监督管理委员会（简称"中国证监会"）"证监许可〔2023〕521 号文"批准，同意美芯晟科技（北京）股份有限公司（简称"公司"或"美芯晟"） 向社会公众发行人民币普通股（A 股）20,010,000 股，每股面值 1 元。本次公司 发行新股的发行价为 75.00 元/股，募集资金总额为 150,075.00 万元，扣除发行费 用 12,426.69 万元后，实际募集资金净额为 137,648.31 万元。本次公开发行股票 于 2023 年 5 月 ...

Investment Rating - The investment rating for the company is "Buy" [5] Core Insights - The company reported a revenue of 265 million yuan for H1 2025, representing a year-on-year increase of 36.83% and a return to profitability with a net profit of 5 million yuan [1][5] - The optical sensor product line saw a significant revenue increase of 246.65% year-on-year, driven by rising demand from leading smartwatch brands [2] - The overall gross margin for H1 2025 reached 35.01%, an increase of 11.90 percentage points year-on-year, indicating improved profitability [2] - The company is focusing on three strategic growth areas, with sensors and wireless charging becoming the core growth drivers [3] Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 265 million yuan, with a net profit of 5 million yuan, marking a turnaround from losses [1] - For Q2 2025, the company reported a revenue of 140 million yuan, a year-on-year increase of 41.27% and a quarter-on-quarter increase of 11.82% [1] - The company’s revenue from optical sensors and wireless charging combined reached 183 million yuan, a year-on-year growth of 107.42% [2] Profitability - The gross margin for H1 2025 was 35.01%, up 11.90 percentage points from the previous year, reflecting a favorable shift in product mix towards higher-margin products [2] - The company’s R&D, sales, and management expense ratios collectively decreased by 10.85 percentage points to 39.43%, indicating effective cost control [2] Future Outlook - The company anticipates that the share of sensors and wireless charging in its revenue will continue to rise in the second half of 2025 and into 2026, driving future growth [3] - Revenue projections for 2025-2027 are estimated at 653 million, 1.043 billion, and 1.417 billion yuan respectively, with net profits expected to reach 41 million, 140 million, and 220 million yuan [3]

| 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-09-10 | 284.25万 | 1.63亿 | 4.47% | | 2025-09-09 | 603.74万 | 1.60亿 | 4.33% | | 2025-09-08 | 161.77万 | 1.54亿 | 4.02% | | 2025-09-05 | -561.04万 | 1.53亿 | 4.07% | | 2025-09-04 | -253.83万 | 1.58亿 | 4.34% | 证券之星消息，9月10日，美芯晟（688458）融资买入822.1万元，融资偿还537.84万元，融资净买入 284.25万元，融资余额1.63亿元，近3个交易日已连续净买入累计1049.77万元，近20个交易日中有11个 交易日出现融资净买入。 融券方面，当日无融券交易。 融资融券余额1.63亿元，较昨日上涨1.77%。 融资融券：目前，个人投资者参与融资融券主要需要具备2个条件：1、从事证券交易至少6个月；2、账 户资产满足前20个交易日日均资产50万。融资融券标的：上交所 ...

证券代码：688458 证券简称：美芯晟 公告编号：2025-049 美芯晟科技（北京）股份有限公司 2025年第一次临时股东会决议公告 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 1、公司在任董事6人，出席6人，独立董事陈玲玲女士现场出席本次会议，其余董事均以通讯方式出席 本次会议； （一）股东会召开的时间：2025年9月10日 （二）股东会召开的地点：北京市海淀区中关村东升科技园·东畔科创中心B座12层公司会议室 （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： ■ 注：上述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，已剔除截至股权登记日公司已回 购的股份5,262,415股。 （四）表决方式是否符合《公司法》及公司章程的规定，股东会主持情况等。 1、本次股东会以现场结合通讯方式召开，会议采取了现场投票与网络投票结合的方式进行表决； 2、本次会议由公司董事会召集，由于公司董事长CHENG ...