Summary of Nanxin Technology Conference Call Company Overview - **Company**: Nanxin Technology - **Industry**: Semiconductor and Embedded Chip Design Key Financial Highlights - **Q3 Revenue**: 910 million RMB, a year-on-year increase of 40.26% and a quarter-on-quarter increase of 15.97%, marking the highest quarterly revenue in history [2][4] - **Gross Margin**: Increased to 36.99%, up approximately 1 percentage point from the previous quarter, driven by high-margin new product sales and cost reduction measures in the supply chain [2][6] - **R&D Investment**: R&D expense ratio reached 19.28%, with R&D personnel accounting for about two-thirds of total employees [2][4][10] Product and Market Developments - **New Products**: Significant contributions from new products such as Display Power, BMS, and wireless charging products, particularly in the smart energy sector [2][5] - **Automotive and Industrial Business**: Combined revenue contribution of approximately 10%, with automotive business alone accounting for about 6%, showing a year-on-year growth of 100% [2][8] - **Future Goals**: Aim for automotive business revenue to exceed 20% by 2030 [2][8] Strategic Initiatives - **R&D Focus**: Emphasis on expanding into AI, industrial sensing, and automotive sectors, with potential short-term profit impacts but long-term improvements expected [2][10] - **BMS Product Growth**: Rapid revenue growth from BMS products, with applications expanding to AI glasses and electric tools [2][11] - **AI Server Power Modules**: Expected to start shipping in the second half of the year, initially focusing on primary power supply [2][12][13] Partnerships and Collaborations - **Collaboration with Samsung**: Progressing well, with expected revenue of 40-50 million RMB in Q4 from products like hydraulic pumps and wireless charging for watches [3][14] Market Outlook - **Mobile Market Demand**: Weak recovery in mobile market demand, but stable shipment rhythm expected for Q4 [9] - **Future Revenue Projections**: Anticipated continued growth in revenue and profit, with clearer guidance expected in two months [19] Workforce and Organizational Changes - **Employee Growth**: Employee count increased from 827 at the end of last year to an expected 1,300 by year-end [15] - **Acquisition of Shunshunwei**: Completed in Q1, with expected contributions to revenue and synergy effects gradually emerging [16] Industry Trends - **M&A Trends**: Increasing trend of small companies seeking mergers with listed companies for funding and market credibility [17][18] Long-term Strategic Vision - **2030 Revenue Target**: Aim to achieve 10 billion RMB in revenue, with 50% from consumer products and over 20% from automotive [20] Additional Insights - **Liquid Cooling Micro Modules**: Currently being introduced to various clients, with significant future revenue potential if validated [21] - **Talent Acquisition Strategy**: Focus on campus recruitment and strategic hiring for specific product areas, particularly in computing power [21][22] - **Supply Chain Dynamics**: Tightening capacity in upstream wafer foundry and testing, with potential cost pressures anticipated [23]

Investment Rating - The investment rating for the company is "Outperform the Market" [6][29]. Core Insights - The company achieved a record high quarterly revenue in Q3 2025, with a total revenue of 2.38 billion yuan for the first three quarters of 2025, representing a year-over-year increase of 25.34%. The net profit attributable to shareholders was 191 million yuan, down 29.66% year-over-year [1][3]. - The company plans to issue convertible bonds to raise up to 1.933 billion yuan for projects in smart computing, automotive, and industrial applications, indicating a strategic expansion of its product lines and market applications [3][6]. - The gross margin for the first three quarters of 2025 was 36.98%, a decrease of 3.88 percentage points year-over-year, but the gross margin for Q3 2025 improved sequentially to 36.99% [2][3]. Financial Performance Summary - For the first three quarters of 2025, the company reported a revenue of 2.38 billion yuan, with a net profit margin of 7.91%, down 6.4 percentage points from the previous year [1][2]. - The company’s R&D expenses increased by 53.34% year-over-year to 459 million yuan, reflecting a commitment to innovation [2][3]. - The projected net profits for 2025-2027 are estimated at 307 million, 446 million, and 578 million yuan respectively, with corresponding price-to-earnings ratios of 65, 45, and 34 times [3][5].

上海南芯半导体科技股份有限公司 2025年第四次临时股东会会议资料 上海南芯半导体科技股份有限公司 2025 年第四次临时股东会会议资料 证券代码：688484 证券简称：南芯科技 二〇二五年十一月 1 上海南芯半导体科技股份有限公司 2025年第四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 2025 年第四次临时股东会会议须知 3 | | --- | | 上海南芯半导体科技股份有限公司 2025 年第四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 年第四次临时股东会会议议案 7 | | 议案一： 关于取消监事会及修订《公司章程》的议案 7 | | 议案二： 关于修订公司部分治理制度的议案 8 | | 附：上海南芯半导体科技股份有限公司独立董事工作制度 9 | | 附：上海南芯半导体科技股份有限公司关联交易管理制度 22 | | 附：上海南芯半导体科技股份有限公司对外担保管理制度 32 | | 附：上海南芯半导体科技股份有限公司对外投资管理制度 42 | | 附：上海南芯半导体科技股份有限公司累积投票制实施细则 49 | | 附：上海南芯半导体科技股份有限公司 ...

Core Insights - The company reported a revenue of 910 million yuan for Q3 2025, marking a year-on-year increase of 40.26%, with a net profit attributable to shareholders of 68.51 million yuan, up 2.82% from the previous year [1] - Cumulatively, the company achieved a revenue of 2.38 billion yuan from the beginning of the year to the end of the reporting period, reflecting a year-on-year growth of 25.34% [1] R&D Investment - The company's R&D expenditure reached 176 million yuan in Q3 2025, representing a year-on-year increase of 51.32%, with R&D investment accounting for 19.38% of revenue, an increase of 1.41 percentage points year-on-year [3] - Year-to-date, the total R&D investment amounted to 459 million yuan, up 53.34% year-on-year, with the R&D investment ratio at 19.28%, an increase of 3.52 percentage points year-on-year [3] Business Development Stages - The first stage involved deepening the consumer electronics sector, establishing the company as an industry leader by capitalizing on the smartphone charging management market with high-performance charging management chips [4] - The second stage focused on platform-based development, creating a comprehensive "end-to-end" charging solution that expanded into wireless charging, lithium battery management, and power management for displays and adapters [4] - The third stage marked a strategic shift towards automotive and industrial markets, leveraging existing advantages in charging products to introduce automotive-grade charging solutions and expand into core areas like body control and intelligent driving [4] Market Positioning and Future Outlook - The company is proactively positioning itself in industrial communication and computing power sectors, driven by the wave of industrial upgrades due to artificial intelligence [5] - The strong revenue growth in Q3 2025 indicates successful customer expansion and product commercialization efforts [5] - Despite short-term profit pressures, the significant increase in R&D investment is expected to support long-term growth, with potential improvements in profitability and market position in niche segments amid accelerating semiconductor localization trends [5]

Core Points - Nanchip Technology announced the election of Mr. Bian Jianjian as the vice chairman of the company's second board of directors during the meeting held on October 24, 2025 [1] Summary by Category Company Announcement - The company held its second board meeting on October 24, 2025, where the election of the vice chairman was approved [1]

Core Viewpoint - Nanchip Technology (688484.SH) reported a revenue of 2.38 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 25.34% while the net profit attributable to shareholders decreased by 29.66% to 191 million yuan, with basic earnings per share at 0.45 yuan [1] Financial Performance - Total operating revenue for the first three quarters reached 2.38 billion yuan, marking a 25.34% increase year-on-year [1] - Net profit attributable to the parent company's shareholders was 191 million yuan, showing a decline of 29.66% compared to the previous year [1] - Basic earnings per share stood at 0.45 yuan [1]

Group 1 - The core viewpoint of the article highlights that Nanchip Semiconductor Technology Co., Ltd. reported significant revenue growth in Q3 2025, achieving 910 million yuan, a year-on-year increase of 40.26% [1] - The net profit attributable to shareholders for Q3 was 68.51 million yuan, while the net profit after deducting non-recurring items was 64.05 million yuan [1] - For the first three quarters of the year, Nanchip's total revenue reached 2.38 billion yuan, reflecting a year-on-year growth of 25.34% [1] Group 2 - The company has increased its R&D investment significantly, totaling 459 million yuan in the first three quarters, which is a 53.34% increase year-on-year [1] - R&D expenses accounted for 19.28% of the total revenue, indicating a strong commitment to innovation and development [1] - The increase in R&D investment is attributed to a rise in the number of R&D personnel and related costs such as salaries and materials [1] Group 3 - Nanchip's main business focuses on the research, design, and sales of analog and embedded chips, particularly in the power and battery management sectors [2]

Group 1 - The core point of the article is that Nanchip Technology (SH 688484) held its 10th meeting of the 2nd board of directors on October 24, 2025, to discuss the election of a vice chairman and other documents [1] - For the year 2024, Nanchip Technology's revenue composition is 99.84% from the integrated circuit industry and 0.16% from other businesses [1] - As of the report, Nanchip Technology has a market capitalization of 19.9 billion yuan [1]

上海南芯半导体科技股份有限公司（以下简称"公司"）于 2025 年 10 月 24 日召开第二届董事会第十次会议，审议通过了《关于取消监事会及修订<公司 章程>的议案》《关于修订公司部分治理制度的议案》。现将具体情况公告如下： 证券代码：688484 证券简称：南芯科技 公告编号：2025-063 上海南芯半导体科技股份有限公司 关于取消监事会、修订《公司章程》 及部分公司治理制度的公告 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、准确性和完整性依法承担法律责任。 一、 取消监事会的情况 根据 2024 年 7 月 1 日起实施的《中华人民共和国公司法》（以下简称"《公 司法》"）、《关于新<公司法>配套制度规则实施相关过渡期安排》《上市公 司章程指引》等相关法律、法规、规范性文件的规定，并结合公司实际情况，公 司拟取消监事会，原监事会职权由董事会审计委员会行使。同时，《上海南芯半 导体科技股份有限公司监事会议事规则》相应废止，公司各项治理制度中涉及监 事、监事会的规定不再适用。并对《上海南芯半导体科技股份有限公司章程》（以 下简称"《公司章程》"）中 ...

证券代码：688484 证券简称：南芯科技 公告编号：2025-070 上海南芯半导体科技股份有限公司 关于选举副董事长的公告 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、准确性和完整性依法承担法律责任。 为进一步完善公司治理结构，提高公司董事会运作水平及工作效率，根据《中 华人民共和国公司法》、《中华人民共和国证券法》等相关法律法规及《上海南 芯半导体科技股份有限公司章程》有关规定，公司于 2025 年 10 月 24 日召开了 第二届董事会第十次会议，审议通过了《关于选举副董事长的议案》，同意选举 卞坚坚先生为公司第二届董事会副董事长，任期至第二届董事会届满之日止。 特此公告。 上海南芯半导体科技股份有限公司董事会 2025 年 10 月 28 日 附件： 卞坚坚先生简历 1980 年出生，中国国籍，无境外永久居留权，硕士研究生学历。2004 年至 2007 年任 Linear Technology Corporation 设计工程师，2007 年至 2011 年任上海贝 岭股份有限公司设计经理，2011 年至 2012 年任 Linear Tec ...