Core Viewpoint - Longxun Co., Ltd. (688486) reported a strong performance in its 2025 mid-year financial results, with significant increases in revenue and net profit compared to the previous year. Financial Performance Summary - Total revenue reached 247 million yuan, an increase of 11.35% year-on-year [1] - Net profit attributable to shareholders was 71.52 million yuan, up 15.16% year-on-year [1] - In Q2 alone, total revenue was 138 million yuan, reflecting a 17.42% increase year-on-year, while net profit for the quarter was 43.01 million yuan, a 38.32% increase [1] - Gross margin improved to 54.88%, up 0.4% year-on-year, and net margin increased to 28.96%, up 3.42% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 24.30 million yuan, accounting for 9.84% of revenue, a 29.05% increase year-on-year [1] - Earnings per share rose to 0.54 yuan, a 14.89% increase year-on-year, while operating cash flow per share surged to 0.39 yuan, a remarkable increase of 7507.23% [1] Key Financial Changes - Cash and cash equivalents decreased by 65.16% to 22.30 million yuan due to investment in financial products [1] - Accounts receivable increased by 17.21% to 32.97 million yuan [1] - Interest-bearing liabilities decreased by 46.78% to 266,000 yuan [1] - Prepayments increased significantly by 152.62%, attributed to advance payments for wafer procurement [2] - Other current assets increased due to prepaid corporate income tax [3] - Intangible assets surged by 479.82% due to land and EDA purchases [4] - Deferred tax assets rose by 37.31% due to increased share-based payments [5] - Accounts payable increased by 156.81% due to higher material payables [6] - Employee compensation payables decreased by 33.69% due to differences in bonus accruals [7] - Taxes payable decreased by 71.42% due to reduced corporate income tax [8] - Other payables increased by 39.7% due to agent deposits [9] - Management expenses rose by 32.31% due to changes in employee compensation and increased depreciation [10] - Financial expenses increased by 141.94% due to reduced interest income compared to the previous year [11] Investment Insights - The company's return on invested capital (ROIC) was 10.02%, indicating average capital returns, while the net profit margin was high at 30.99%, suggesting strong product or service value [11] - Analysts expect the company's 2025 performance to reach 206 million yuan, with an average earnings per share forecast of 1.55 yuan [11] - The company is held by a prominent fund manager, Dong Jizhou from Taixin Fund, who has recently increased his stake [12] - The largest fund holding Longxun shares is Taixin Small and Medium Cap Selected Mixed Fund, with a scale of 1.836 billion yuan and a recent net value increase of 2.94% [15]

Core Viewpoint - The report highlights the financial performance and growth prospects of Lontium Semiconductor, emphasizing its focus on high-speed mixed-signal chip development and sales, as well as the overall recovery of the semiconductor industry driven by AI and other technologies [3][5][6]. Company Overview and Financial Indicators - Lontium Semiconductor is a fabless integrated circuit design company based in Hefei, specializing in high-speed mixed-signal chips [6][7]. - For the first half of 2025, the company reported revenue of approximately 246.98 million yuan, a year-on-year increase of 11.35% [6][13]. - The net profit attributable to shareholders was approximately 71.52 million yuan, reflecting a 15.16% increase compared to the same period last year [6][13]. - The company's total assets reached approximately 1.54 billion yuan, with net assets attributable to shareholders at approximately 1.46 billion yuan, marking increases of 2.49% and 2.05% respectively [6][13]. Industry Development - The global semiconductor industry is expected to recover in 2024, with sales projected to exceed $627.6 billion, driven by demand in AI, edge computing, and 5G technologies [5][6]. - In China, the semiconductor industry is experiencing significant growth, with sales reaching $17.2 billion in June 2025, a year-on-year increase of 13.1% [6][7]. - The domestic integrated circuit exports amounted to $90.47 billion in the first half of 2025, reflecting an 18.9% year-on-year growth [6][7]. Business Development - Lontium focuses on developing high-speed mixed-signal chips for applications in display technology, automotive electronics, and AI [6][7][12]. - The company has established partnerships with major global chip manufacturers, integrating its products into their reference design platforms [7][12]. - The company has invested heavily in R&D, with expenditures amounting to approximately 57.06 million yuan in the first half of 2025, representing 23.10% of its revenue [13][21]. Product Lines - The company's product offerings include high-definition video bridging and processing chips, as well as high-speed signal transmission chips [9][10]. - The video bridging chips are designed for protocol conversion and function processing of various high-definition video signals, while the signal transmission chips facilitate high-speed data transfer [9][10][12]. - Recent product developments include chips that support high refresh rates and variable refresh rates, aimed at enhancing performance in commercial display and security applications [14][16]. Competitive Advantages - Lontium has built a strong competitive edge through continuous innovation and a focus on high-quality product development [21]. - The company maintains a high level of R&D investment, ensuring its ability to adapt to market demands and technological advancements [21]. - The firm has established a robust intellectual property portfolio, with 114 domestic patents and 44 international patents, enhancing its market position [18][21].

Core Viewpoint - Longxin Semiconductor (Hefei) Co., Ltd. reported a positive financial performance for the first half of 2025, with significant increases in revenue and net profit compared to the previous year [1]. Financial Performance - Total assets at the end of the reporting period reached approximately 1.54 billion RMB, an increase of 2.49% from the previous year [1]. - The net assets attributable to shareholders of the listed company were approximately 1.46 billion RMB, reflecting a growth of 2.05% year-on-year [1]. - Operating revenue for the period was approximately 247 million RMB, marking an increase of 11.35% compared to the same period last year [1]. - Total profit amounted to approximately 68.58 million RMB, which is a 3.16% increase from the previous year [1]. - The net profit attributable to shareholders was approximately 71.52 million RMB, representing a significant increase of 15.16% year-on-year [1]. - The net cash flow from operating activities was approximately 51.48 million RMB [1]. Profitability Metrics - The weighted average return on net assets was 5.00%, an increase of 0.69 percentage points from the previous year [2]. - Basic earnings per share were reported at 0.54 RMB, up 14.89% from 0.47 RMB in the previous year [2]. Research and Development - Research and development expenses accounted for 23.10% of operating revenue, an increase of 2.16 percentage points compared to the previous year [2].

Group 1 - The fourth meeting of the supervisory board of Longxun Semiconductor (Hefei) Co., Ltd. was held on August 22, 2025, with a legal and valid resolution [1][2] - The supervisory board approved the 2025 semi-annual report and its summary, confirming that the report accurately reflects the company's financial status and operational results for the first half of 2025 [1][2] - The supervisory board also approved the special report on the storage and actual use of raised funds for the first half of 2025, stating that the management of the funds complies with relevant laws and regulations [2]

Core Viewpoint - The report outlines the progress and effectiveness of the "Quality Improvement and Efficiency Enhancement Return" action plan for the first half of 2025, highlighting the company's focus on high-quality development and shareholder returns. Group 1: Business Performance - The company achieved total revenue of 246.98 million yuan, an increase of 11.35% year-on-year, and a net profit attributable to shareholders of 71.52 million yuan, up 15.16% year-on-year [1] - The net profit after excluding non-recurring gains and losses was 56.90 million yuan, reflecting a growth of 17.56% compared to the previous year [1] Group 2: Research and Development - The company invested 57.06 million yuan in R&D during the first half of 2025, a 22.87% increase year-on-year, representing 23.10% of total revenue [2] - The company successfully developed a chip for commercial display and security applications that supports high refresh rates and can switch between multiple input signals, significantly reducing design complexity and production costs [3] Group 3: Product Development and Market Expansion - The company is expanding its product line in high-definition video bridging and processing chips, leveraging AI technology to meet the growing demand for edge computing and advanced communication [4][5] - The company has made significant progress in automotive electronics, with new products being promoted in the market, including a vehicle-mounted SerDes chip group [5] Group 4: Talent Development and Incentives - The company emphasizes talent development, with 72.84% of employees in R&D roles, and 54.24% of R&D personnel holding master's degrees or higher [6] - The implementation of the 2024 restricted stock incentive plan aims to attract and retain talent while enhancing team stability and creativity [7] Group 5: Supply Chain and Production Capacity - The company is optimizing its supply chain management and has expanded its production capacity by adding two wafer fabs and one packaging plant [8] - The company is conducting R&D on mixed-signal chips with advanced manufacturing processes, achieving transmission rates of up to 20 Gbps [8] Group 6: Shareholder Returns - The company has implemented cash dividends and capital reserve transfers to enhance shareholder returns, distributing 7.00 yuan per 10 shares, totaling approximately 70.99 million yuan [9] - The capital reserve transfer increased the total share capital from 102,280,590 shares to 132,704,525 shares [9] Group 7: Corporate Governance and Transparency - The company has established a public opinion management system to enhance its response capabilities and protect investor interests [10] - The company has improved its information disclosure practices, holding 21 investor communication events in the first half of 2025 to enhance transparency [10]

Summary of Key Points Core Viewpoint The report provides a detailed account of the fundraising activities and the actual usage of the raised funds by Longxun Semiconductor (Hefei) Co., Ltd. for the first half of 2025, ensuring compliance with relevant regulations and highlighting the management of the funds. Fundraising Overview - The company raised a total of RMB 1,121,301,008.16 through the issuance of 17,314,716 shares at a price of RMB 64.76 per share, with net proceeds amounting to RMB 1,030,280,987.25 after deducting issuance costs of RMB 91,020,020.91 [1][2] - As of June 30, 2025, the balance in the fundraising account was RMB 54,652,144.00, which includes interest income after deducting fees [2][3] Fund Management - The company has established a fundraising management system to ensure proper storage and usage of the funds, adhering to various legal and regulatory requirements [2][4] - A tripartite supervision agreement was signed with the underwriter and banks to clarify the rights and obligations of all parties involved in managing the funds [2][4] Actual Usage of Funds - The company has directly invested RMB 213,822,073.62 in fundraising projects, with RMB 52,888,175.13 being invested during the reporting period [2][7] - There were no changes in the implementation locations or methods for the fundraising projects during the reporting period [3][6] - The company did not use idle funds to temporarily supplement working capital during the reporting period [5][8] Cash Management of Idle Funds - The company approved the use of idle funds for cash management, with a maximum amount of RMB 90,000,000.00 allocated for safe and liquid investment products [5][6] - Specific cash management activities included investments in structured deposits and other financial products, ensuring that these activities do not affect the implementation of fundraising projects [5][6] Project Status and Adjustments - The company has postponed the expected completion dates for certain fundraising projects, including the "HD Video Bridge and Processing Chip Development and Industrialization Project" and the "High-Speed Signal Transmission Chip Development and Industrialization Project" [6][8] - The total amount of funds invested in these projects as of the reporting period was RMB 28,432.36 million, with a completion rate of 27.60% [7][8]

龙迅半导体（合肥）股份有限公司 章 程 二〇二五年八月 第一章 总则 第一条 为规范龙迅半导体（合肥）股份有限公司（以下简称"公司"）的组织 和行为，维护公司、股东及债权人的合法权益，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》） 《上市公司章 程指引》 《上海证券交易所股票上市规则》《上海证券交易所科创板股票上市规则》 和其他有关规定，制订本章程。 第二条 公司系依《公司法》和其他有关规定设立的股份有限公司。公司是由龙 迅半导体科技（合肥）有限公司以整体变更的方式发起设立的股份有限公司。公司 在安徽省市场监督管理局注册登记，领取了《营业执照》，统一社会信用代码： 第三条 公司于 2023 年 1 月 4 日经中国证券监督管理委员会（以下简称"中国 证监会"）同意注册，首次向社会公众发行人民币普通股 17,314,716 股，于 2023 年 2 月 21 日在上海证券交易所科创板上市。 第四条 公司注册名称：龙迅半导体（合肥）股份有限公司，英文名称：Lontium Semiconductor Corporation 第五条 公司住所：安徽省合肥市经 ...

Group 1 - The company has established a "Market Value Management System" to enhance its market value management practices and improve investor returns [1] - The decision was made during the fourth board meeting on August 22, 2025, and aims to comply with national regulations encouraging listed companies to implement such systems [1] - The system is designed to protect the legitimate rights and interests of the company, investors, and other stakeholders [1]

人民财讯8月22日电，龙迅股份(688486)8月22日晚间披露2025年半年报，公司上半年实现营业收入2.47 亿元，同比增长11.35%；归母净利润7152.05万元，同比增长15.16%；基本每股收益0.54元。报告期 内，公司继续加大研发投入，累计投入5706.07万元，较上年同期增加22.87%，占营业收入比重为 23.10%。 ...

格隆汇8月22日丨龙迅股份(688486.SH)公布2025 年半年度报告，报告期实现营业收入2.47亿元，同比增 长11.35%；归属于上市公司股东的净利润7152.05万元，同比增长15.16%；归属于上市公司股东的扣除 非经常性损益的净利润5689.77万元，同比增长17.10%；基本每股收益0.54元。 ...