证券代码：688498 证券简称：源杰科技 公告编号：2025-048 陕西源杰半导体科技股份有限公司 2025 年限制性股票激励计划（草案）摘要公告 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。 重要内容提示： 股权激励方式：限制性股票（第二类限制性股票） 股份来源：公司从二级市场回购的公司 A 股普通股股票和/或公司向激励 对象定向发行的公司 A 股普通股股票 股权激励的权益总数及涉及的标的股票总数：陕西源杰半导体科技股份 有限公司（以下简称"公司"）2025 年限制性股票激励计划（以下简称"本次 激励计划"）拟向激励对象授予限制性股票合计 63.45 万股，约占本次激励计划 草案公告日公司股本总额 8,594.7726 万股的 0.74%。其中，首次授予 50.76 万 股，约占本次激励计划草案公告日公司股本总额的 0.59%，约占本次激励计划拟 授予限制性股票总额的 80.00%；预留 12.69 万股，约占本次激励计划草案公告 日公司股本总额的 0.15%，约占本次激励计划拟授予限制性股票总额的 20.00%。 ...

证券代码：688498 证券简称：源杰科技 陕西源杰半导体科技股份有限公司 2025年限制性股票激励计划 （草案） 二〇二五年八月 陕西源杰半导体科技股份有限公司 2025年限制性股票激励计划（草案） 声 明 本公司董事会及全体董事保证本公告内容不存在虚假记载、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。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈述 或者重大遗漏，导致不符合授予权益或行使权益安排的，激励对象应当自相关信 息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本次激励计 划所获得的全部利益返还公司。 特别提示 一、《陕西源杰半导体科技股份有限公司2025年限制性股票激励计划（草案）》 （以下简称"本次激励计划"或"本计划"）由陕西源杰半导体科技股份有限公 司（以下简称"源杰科技"、"公司"或"本公司"）依据《中华人民共和国公 司法》《中华人民共和国证券法》《上市公司股权激励管理办法》《上海证券交 易所科创板股票上市规则》《科创板上市公司自律监管指南第4号——股权激励信 息披露》等有关法律法规、规范性文件以及《陕西源杰半导体科技股份有 ...

金杜律师事务所 KING&WCOD MALIFSONS 北京市朝阳区东三环中路1号 环球金融中心办公楼东楼18层 邮编100020 18th Floor, East Tower, World Financial Center 1 Dongsanhuan Zhonglu, Chaoyang District Beijing 100020, P. R. China T +86 10 5878 5588 F +86 10 5878 5566 www.kwm.com 北京市金杜律师事务所 关于陕西源杰半导体科技股份有限公司 2025年限制性股票激励计划(草案)的 法律意见书 致:陕西源杰半导体科技股份有限公司 北京市金杜律师事务所（以下简称"金杜"或"本所"）接受陕西源杰半导体科 技股份有限公司（以下简称"公司"）的委托，作为公司 2025 年限制性股票激励计划 (以下简称"本次激励计划"或"本计划"）的专项法律顾问,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》")、中国证券监督管理委员会(以下简称"中国证监会")《上市公司股权激励管 理办法》(以下简称" ...

陕西源杰半导体科技股份有限公司2025 年半年度报告 公司代码：688498 公司简称：源杰科技 陕西源杰半导体科技股份有限公司 2025 年半年度报告 1 / 188 陕西源杰半导体科技股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险及应对措施，敬请查阅本报告 "第三节管理层讨论与分析"之"四、风险因素"部分。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人王昱玺、主管会计工作负责人陈振华及会计机构负责人（会计主管人员）曹夏 璐声明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司拟向全体股东每 10 股派发现金红利 3 元（含税），不送红股，不进行资本公积转增股本。 截至 2025 年 8 月 29 日，公司总股本 85,947,726 股，扣除目前回购专户的股份余额 452,14 ...

陕西源杰半导体科技股份有限公司（以下简称"公司"）为进一步完善公司 法人治理结构，建立、健全公司长效激励约束机制，吸引和留住公司管理人员和 核心骨干，充分调动其积极性和创造性，有效提升核心团队凝聚力和企业核心竞 争力，有效地将股东、公司和核心团队三方利益结合在一起，使各方共同关注公 司的长远发展，确保公司发展战略和经营目标的实现，在充分保障股东利益的前 提下，按照收益与贡献对等的原则，制定了 2025 年限制性股票激励计划（以下 简称"本次激励计划"）。 为保证公司本次激励计划的顺利实施，现根据《中华人民共和国公司法》《中 华人民共和国证券法》《上市公司股权激励管理办法》《上海证券交易所科创板股 票上市规则》《科创板上市公司自律监管指南第 4 号－－股权激励信息披露》等 有关法律法规、规范性文件以及《陕西源杰半导体科技股份有限公司章程》的相 关规定，并结合公司实际情况，制定了《陕西源杰半导体科技股份有限公司 2025 年限制性股票激励计划实施考核管理办法》（以下简称"本办法"）。 陕西源杰半导体科技股份有限公司 2025 年限制性股票激励计划实施考核管理办法 陕西源杰半导体科技股份有限公司 2025 年限制性 ...

8月29日，源杰科技跌5.29%，截至发稿，报298.90元/股，成交2.73亿元，换手率1.51%，总市值256.90 亿元。 资料显示，陕西源杰半导体科技股份有限公司位于陕西省西咸新区沣西新城开元路1265号，成立日期 2013年1月28日，上市日期2022年12月21日，公司主营业务涉及光芯片的研发、设计、生产与销售。主 营业务收入构成为：电信市场类80.22%，数据中心及其他19.05%，其他(补充)0.73%。 长信金利趋势混合A（519994）成立日期2006年4月30日，最新规模46.47亿。今年以来收益26.55%，同 类排名2695/8189；近一年收益49%，同类排名2612/7969；成立以来收益659.46%。 长信金利趋势混合A（519994）基金经理为高远。 从源杰科技十大流通股东角度 数据显示，长信基金旗下1只基金位居源杰科技十大流通股东。长信金利趋势混合A（519994）一季度 新进十大流通股东，持有股数67万股，占流通股的比例为1.11%。根据测算，今日浮亏损失约1118.23万 元。 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 ...

Market Overview - The market experienced a significant drop, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index closing down by 1.76%, 1.43%, and 0.69% respectively, with over 4,700 stocks declining and only around 600 stocks rising [4] - Despite the indices showing a modest decline, the actual market impact was severe, indicating a split market where many stocks were falling while a few were driving index gains [5][6] Sector Performance - The computing power concept stocks saw a strong morning surge, with companies like Runjian Co., Meige Intelligent, and Dawang Technology hitting the daily limit, but faced significant sell-offs later [3] - The rare earth sector continued to perform well, with companies like Beikong Technology and Northern Rare Earth reaching their daily limit [3] - The CPO sector also experienced a notable rise, with Cambridge Technology achieving three consecutive limit-ups [3] Notable Stocks - Cambrian's stock price rose over 10% to exceed 1,460 yuan, surpassing Kweichow Moutai, which fell to 1,448 yuan, leading to discussions about Cambrian becoming the "new stock king" [11] - Alibaba-related computing power stocks initially surged but ultimately closed down by 1.81%, despite positive speculation about Alibaba's upcoming earnings report [14] - Zhouming Technology announced a partnership with Saudi Arabia's Al-Nassr Club, which initially boosted its stock price but ultimately closed down by 2% [16] Policy Impact - The Ministry of Commerce announced plans to introduce policies to promote service exports, which led to a temporary surge in Cross-Border Communication's stock price, although the connection to cross-border e-commerce remains tenuous [18]

Market Performance - The semiconductor sector rose by 2.99% on August 25, with Xin Heng Hui leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] Top Gainers in Semiconductor Sector - Xin Heng Hui (301678) closed at 100.69, up 16.59% with a trading volume of 179,300 shares and a transaction value of 1.713 billion [1] - Hai Guang Information (688041) closed at 210.10, up 12.92% with a trading volume of 1,022,000 shares and a transaction value of 21.036 billion [1] - Han Wu Ji (688256) closed at 1384.93, up 11.40% with a trading volume of 187,600 shares and a transaction value of 24.990 billion [1] Top Losers in Semiconductor Sector - Wen Sen Co., Ltd. (688720) closed at 50.15, down 4.44% with a trading volume of 67,300 shares [2] - Di Ao Wei (688381) closed at 27.21, down 4.29% with a trading volume of 208,000 shares [2] - Xin Lang Wei (688037) closed at 135.22, down 4.13% with a trading volume of 117,400 shares [2] Capital Flow Analysis - The semiconductor sector experienced a net outflow of 13.308 billion from institutional investors, while retail investors saw a net inflow of 7.245 billion [2] - The net inflow from speculative funds was 6.063 billion [2] Individual Stock Capital Flow - Xin Heng Hui (301678) had a net inflow of 266 million from institutional investors, while it saw a net outflow of 124 million from speculative funds [3] - Han Wu Ji (688256) had a net inflow of 101 million from institutional investors, with a net outflow of 98 million from speculative funds [3] - Zhuo Guang Technology (688167) had a net inflow of 60 million from institutional investors, with a net outflow of 40 million from speculative funds [3]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [7] Core Viewpoints - The AI computing direction is a key investment theme due to strong industry momentum and high demand, particularly in the overseas computing industry chain [3][29] - The report emphasizes the importance of the "AI + overseas + satellite" investment opportunities, highlighting the potential in AI infrastructure and applications in 2025 [4][30] - The satellite internet industry is gaining traction, with significant advancements expected to catalyze growth in related sectors [3][30] Summary by Sections 1. Artificial Intelligence and Digital Economy - Key recommendations include: - Optical modules & devices: Focus on companies like Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and Yuanjie Technology [5][32] - Switch server PCBs: Recommended companies include Hudian Co., ZTE, and Unisplendour [5][32] - Low valuation, high dividend: China Mobile, China Telecom, and China Unicom are highlighted for resource revaluation [5][32] - AIDC & cooling: Key recommendations include Yingweike and Runze Technology [5][32] - AIGC applications: Focus on companies like Guohua Tong and Meige Intelligent [5][32] 2. Offshore Wind Power and Intelligent Driving - Key recommendations for offshore cable companies include Hengtong Optic-Electric, Zhongtian Technology, and Oriental Cable [6][33] - The report suggests focusing on companies with strong recovery potential in overseas markets, such as Huace Navigation and Weisheng Information [6][33] - For intelligent driving, recommended companies include Guanghe Tong and Meige Intelligent [6][33] 3. Satellite Internet and Low Altitude Economy - The report highlights the acceleration of low-orbit satellites and the low-altitude economy, recommending companies like Huace Navigation and Haige Communication [7][34] - Suggested companies for attention include Chengchang Technology and Zhenlei Technology [7][34] 4. Market Performance Review - The communication sector rose by 10.47% during the week of August 18-22, outperforming the CSI 300 index by 6.29 percentage points [35][36] - Notable performers included ZTE and Dekeli, while companies like ST Gaohong experienced declines [37][38]

Investment Rating - The report maintains a "Positive" investment rating for the communication equipment industry [7]. Core Insights - Optical Circuit Switching (OCS) technology allows for routing and forwarding of optical signals without optical-electrical conversion, offering ultra-high transmission speeds, low latency, low power consumption, and high stability compared to traditional switches. This technology is expected to significantly enhance the value of the industry chain in the long term [2][10]. - Google has integrated OCS technology into its TPU v4 generation, which is now in large-scale deployment. Major overseas optical communication leaders are actively promoting OCS products, with significant revenue contributions expected by 2026 [2][10]. Summary by Sections OCS Technology Overview - OCS operates on the principle of direct optical signal switching, eliminating the need for optical-electrical conversion, thus providing advantages such as ultra-high transmission speed and low power consumption. It is seen as a potential long-term replacement for electrical switches [10]. - LightCounting predicts that OCS shipments will experience explosive growth, reaching 10,000 units in 2023 and exceeding 50,000 units by 2029 [10]. Competitive Landscape - There are three main approaches to OCS technology: MEMS, Digital Liquid Crystal (DLC), and Direct Laser Beam Steering (DLBS). Google and Lumentum primarily use the MEMS approach, while Coherent employs the non-mechanical DLC method [10]. - The report highlights that Lumentum and Coherent have begun generating revenue from their OCS businesses, with expectations for continued revenue growth in upcoming quarters [4][10]. Market Outlook - The report suggests that OCS technology will replace electrical switches in the spine layer first, with potential penetration into the leaf/ToR layer in the future. The market for OCS is projected to expand significantly, with an estimated market space of around $2 billion [10]. - Key players to watch include optical system manufacturers with first-mover advantages, as well as manufacturers of passive optical components and laser sources [10].