10月17日，南芯科技跌5.04%，截至发稿，报45.58元/股，成交1.94亿元，换手率1.42%，总市值194.04 亿元。南芯科技股价已经连续5天下跌，区间累计跌幅7.6%。 前海联合科技先锋混合A（006801）成立日期2019年8月14日，最新规模1603.3万。今年以来收益 21.58%，同类排名4132/8160；近一年收益32.04%，同类排名2897/8021；成立以来收益60.17%。 前海联合科技先锋混合A（006801）基金经理为张磊。 截至发稿，张磊累计任职时间5年133天，现任基金资产总规模4.48亿元，任职期间最佳基金回报 39.86%， 任职期间最差基金回报-10.44%。 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）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，上海南芯半导体科技股份有限公司位于中国(上海)自由贸易试验区盛夏路565弄54号(4 幢)1201，成立日期2015年8月4日，上市日期2023年4月7日，公司主营业务涉及模拟与嵌入式芯片的研 ...

Core Viewpoint - The Shanghai Nanchip Semiconductor Technology Co., Ltd. held its third extraordinary general meeting of shareholders in 2025, where multiple resolutions regarding the issuance of convertible bonds were approved, indicating the company's strategic move to raise funds for future growth [1][2]. Meeting Details - The meeting was held on September 26, 2025, at the company's conference room in Shanghai [2]. - The total share capital as of the meeting date was 425,702,911 shares, with 1,752,889 shares in the company's repurchase account not entitled to vote [2]. Voting and Attendance - The meeting was conducted with a combination of on-site and online voting, and was presided over by a director due to the chairman's absence [3]. - All 9 current directors and 3 supervisors attended the meeting, along with the board secretary and other senior executives [4]. Resolutions Passed - The following key resolutions were approved: - The company meets the conditions for issuing convertible bonds to unspecified objects [5]. - Various aspects of the bond issuance, including types, quantities, scale, face value, pricing, terms, interest rates, and redemption clauses were all approved [6][7][8]. - The feasibility analysis reports regarding the use of raised funds were also passed [9]. - A three-year shareholder return plan for 2025-2027 was approved [10]. Legal Verification - The meeting was witnessed by lawyers from Shanghai Jintiancheng Law Firm, confirming that the meeting's procedures and voting results were in compliance with legal and regulatory requirements [11].

上海市锦天城律师事务所关于 上海南芯半导体科技股份有限公司 2025 年第三次临时股东会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11、12 楼 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 （一） 经本所律师查验，本次股东会由董事会提议并召集，根据公司董事会 2025 年 9 月 8 日发布的《上海南芯半导体科技股份有限公司关于召开 2025 年第 三次临时股东会的通知》（以下简称"召开通知"），本次股东会由公司董事会 召集，并且公司董事会已作出相关决议。根据会议通知，本次股东会将于 2025 年 9 月 26 日召开，公司董事会已就召开本次股东会提前 15 日以公告方式向全体 股东发出通知。会议通知的内容包括会议时间、地点、方式、召集人、会议审议 议题、股权登记日以及会议出席对象、登记方法等内容。 上海市锦天城律师事务所 关于上海南芯半导体科技股份有限公司 2025 年第三次临时股东会的法律意见书 致：上海南芯半导体科技股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）《中华人民共 和国 ...

证券代码：688484 证券简称：南芯科技 公告编号：2025-062 上海南芯半导体科技股份有限公司 2025年第三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 本次股东会由董事会召集，采用现场投票与网络投票相结合的方式召开。董 事长阮晨杰先生不能主持，经半数以上董事推举董事卞坚坚先生主持本次会议。 会议的召集和召开程序、出席会议人员的资格、会议的表决方式和程序均符合《公 司法》及《上海南芯半导体科技股份有限公司章程》的有关规定。 （五） 公司董事、监事和董事会秘书的出席情况 1、 公司在任董事9人，出席9人； 2、 公司在任监事3人，出席3人； 3、 董事会秘书梁映珍出席本次会议，其他高管列席了本次会议。 （一） 股东会召开的时间：2025 年 9 月 26 日 （二） 股东会召开的地点：上海市浦东新区盛夏路 565 弄 54 号 D 幢 1201 南芯 科技会议室 （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 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][7]. Core Views - The launch of the new ASIL-D functional safety grade automotive SBC SC6259XQ will support automotive intelligence, integrating multiple power sources in a single chip [2][3]. - The company is experiencing a growth phase with a 21.08% year-on-year revenue increase to 785 million yuan in Q2 2025, driven by product line expansion and entry into high-end consumer electronics and smart automotive electronics [3]. - Future revenue projections are optimistic, with expected revenues of 3.31 billion yuan in 2025, 4.21 billion yuan in 2026, and 5.30 billion yuan in 2027, alongside net profits of 331 million yuan, 452 million yuan, and 608 million yuan respectively [4][6]. Financial Forecasts and Metrics - Revenue for 2024 is projected at 2.567 billion yuan, with a growth rate of 44.19%, and is expected to grow at rates of 28.78%, 27.29%, and 25.94% in the following years [6][13]. - The company's EBITDA is forecasted to increase from 267.87 million yuan in 2024 to 703.60 million yuan in 2027 [6]. - The net profit margin is expected to stabilize around 10% by 2027, with a projected net profit of 607.60 million yuan [6][13]. - The company’s P/E ratio is projected to decrease from 71.05 in 2024 to 35.89 in 2027, indicating potential valuation improvement [6][13].

Group 1 - The core transaction of Nanchip Technology on September 19 involved a block trade of 237,200 shares, amounting to 9.2494 million yuan, with a transaction price of 39.00 yuan, representing a discount of 19.88% compared to the closing price of the day [2][3] - Over the past three months, Nanchip Technology has recorded a total of 2 block trades, with a cumulative transaction amount of 18.1044 million yuan [2] - The closing price of Nanchip Technology on the day of the report was 48.68 yuan, showing a slight decline of 0.04%, with a daily turnover rate of 2.90% and a total trading volume of 423 million yuan [2] Group 2 - The latest margin financing balance for Nanchip Technology is 313 million yuan, which has increased by 20.3953 million yuan over the past five days, reflecting a growth rate of 6.98% [3] - Nanchip Technology was established on August 4, 2015, with a registered capital of 4.25702911 billion yuan [3]

Group 1 - The core point of the news is that Nanchip Technology conducted a block trade on September 18, with a transaction volume of 230,000 shares and a transaction amount of 8.855 million yuan, at a price of 38.50 yuan, which represents a discount of 20.94% compared to the closing price of the day [2][3] - The closing price of Nanchip Technology on the same day was 48.70 yuan, reflecting an increase of 1.37%, with a turnover rate of 4.45% and a total transaction amount of 648 million yuan, indicating a net inflow of main funds of 4.439 million yuan [2][3] - Over the past five days, the stock has accumulated a rise of 4.28%, with a total net inflow of funds amounting to 67.6782 million yuan [2][3] Group 2 - The latest margin financing balance for Nanchip Technology is 328 million yuan, which has increased by 37.2116 million yuan over the past five days, representing a growth rate of 12.78% [3] - Nanchip Technology was established on August 4, 2015, with a registered capital of 4.25702911 billion yuan [3]

Southchip Semiconductor Research Summary Company Overview - **Company**: Southchip Semiconductor (688484 CH) - **Industry**: Semiconductors - **Current Share Price**: CNY 46.70 - **Target Price**: CNY 57.30 (previously CNY 41.20) [5][12] Key Financial Highlights - **Market Capitalization**: CNY 19.88 billion (USD 2.793 billion) [7] - **Net Profit for 1H25**: RMB 123 million (down 40% year-on-year) [2] - **2025-27 Net Profit CAGR**: Expected at 44% (previously 40%) [5][32] - **2026e EPS**: RMB 1.17 (previously RMB 0.87) [5][32] Core Insights - **Market Share Expansion**: Southchip is expected to gain market share in Samsung products, particularly in the charge pump segment, with a target of 40-50% [3][12]. - **Product Portfolio Diversification**: The company is expanding its product offerings, including display PMICs and multiphase controllers, which are anticipated to drive revenue growth [4][12]. - **Charge Pump Revenue**: Expected contributions from Samsung are estimated at RMB 50 million in 2025 and RMB 150 million in 2026 [3]. Revenue Projections - **Total Revenue Estimates**: - 2025: CNY 3.345 billion - 2026: CNY 4.397 billion - 2027: CNY 5.447 billion [13][30] - **Revenue Growth Drivers**: - Mobile device power management, including charge pumps and wireless charging solutions [30]. - Smart energy power management and automotive electronics [30]. Gross Profit Margin (GPM) Trends - **Blended GPM**: Expected to decrease by 1.7, 1.6, and 1.6 percentage points for 2025-27 due to product mix changes [30]. - **Charge Pump GPM**: Anticipated to improve as market share increases [31]. Risks and Challenges - **R&D Costs**: Higher-than-expected R&D expenses are anticipated to impact profitability [2][32]. - **Market Competition**: Potential price wars in the charge pump market could pressure revenues [40]. - **Slower Market Share Gains**: In adapter power management, slower-than-expected gains could pose risks [40]. Investment Recommendation - **Rating**: Maintain Buy - **Target Price Increase**: From CNY 41.20 to CNY 57.30, implying approximately 23% upside potential [5][32]. Conclusion Southchip Semiconductor is positioned for growth through market share expansion and product diversification, despite facing challenges from increased R&D costs and competitive pressures. The revised target price reflects confidence in the company's future profitability and market position.

Group 1 - A total of 83 stocks experienced block trades in the A-share market on September 18, with a total transaction value of 11.257 billion yuan [1] - The top three stocks by transaction value were Pudong Development Bank (6.368 billion yuan), Shenghong Technology (3.073 billion yuan), and Haoyuan Pharmaceutical (276 million yuan) [1] - Among the stocks, 21 were traded at par, 8 at a premium, and 54 at a discount; the highest premium rates were for Bangyan Technology (12.72%), Pudong Development Bank (3.29%), and Huayu Pharmaceutical-W (2.99%) [1] Group 2 - The top stocks by institutional buy amounts included Shenghong Technology (2.499 billion yuan), Dameng Data (70.342 million yuan), and Yinzhijie (54.357 million yuan) [1] - The top stocks by institutional sell amounts were Sanhua Intelligent Controls (9.11 million yuan), New Industry (7.968 million yuan), and Hailiang Co. (4.9551 million yuan) [2]

上海南芯半导体科技股份有限公司 2025年第三次临时股东会会议资料 2025 年第三次临时股东会会议资料 二〇二五年九月 1 证券代码：688484 证券简称：南芯科技 上海南芯半导体科技股份有限公司 上海南芯半导体科技股份有限公司 2025年第三次临时股东会会议资料 目录 | 上海南芯半导体科技股份有限公司 | 年第三次临时股东会会议须知 3 2025 | | --- | --- | | 上海南芯半导体科技股份有限公司 | 2025 年第三次临时股东会会议议程 5 | | 上海南芯半导体科技股份有限公司 | 2025 年第三次临时股东会会议议案 8 | | 议案一： | 关于公司符合向不特定对象发行可转换公司债券条件的议案 8 | | 议案二： | 关于公司向不特定对象发行可转换公司债券方案的议案 9 | | 议案三： | 关于公司向不特定对象发行可转换公司债券预案的议案 20 | | 议案四： | 关于公司向不特定对象发行可转换公司债券方案论证分析报告的议案 21 | | 议案五： | 关于公司向不特定对象发行可转换公司债券募集资金使用可行性分析报告 | | 的议案 22 | | | 议案六： | 关于公 ...