证券代码：688508 证券简称：芯朋微 公告编号：2025-046 无锡芯朋微电子股份有限公司 3.一致行动人信息 上述信息披露义务人无一致行动人。 关于持股 5%以上股东减持股份进展暨权益变动触及 1%整数倍的提示性公告 股东张立新先生保证向本公司提供的信息真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | 控股股东/实际控制人及其一致行动人 | | --- | --- | | 投资者及其一致行动 | □其他 5%以上大股东及其一致行动人 | | | □合并口径第一大股东及其一致行动人（仅适用于无控 | | 人的身份 | | | | 股股东、实际控制人） | | | □其他______________ | 2.信息披露义务人信息 | 信息披露义务人名称 | | 投资者身份 | 统一社会信用代码 | | | --- | --- | --- | --- | --- | | |  控股股东/实控人 | | | 不适用  | | | □ | 控股股东/实控人的一致 | ...

Core Insights - The domestic production rate of analog chips for home appliances in China is projected to reach 65% by the end of 2024, with the overall domestic chip share in home appliances at 70-80% [4] - The domestic analog chip production rate is approximately 90%, while the power semiconductor devices exceed 70% [4] - Major domestic companies like Chipone Microelectronics, Jingfeng Mingyuan, and others are accelerating the replacement of imported analog chips, capturing a market share of 65% in power management chips [4] Group 1 - The domestic analog chips can meet the needs of ordinary home appliances, with a minimum of 60% share in major appliances like air conditioners and refrigerators [5] - The price of domestic chips is about 0.1-0.3 yuan, which is 15%-20% cheaper than imported counterparts, with similar performance [4][5] - Domestic companies are developing pure domestic chip solutions, and the anti-dumping investigation is expected to accelerate the domestic chip production process [5][6] Group 2 - The anti-dumping investigation aims to deter unfair competition from foreign companies leveraging their technological and market advantages [6] - The final market share of domestic chips will depend on comprehensive factors such as product performance, price, and service [6] - The domestic analog chip industry is expected to undergo a phase of competition, leading to a survival of the fittest scenario [5]

Core Viewpoint - The Chinese Ministry of Commerce has initiated anti-dumping investigations against imported analog chips from the United States, responding to domestic industry applications and aligning with WTO rules. The investigations focus on general interface and gate driver chips, revealing a significant increase in import volume and a drastic decrease in import prices, which have negatively impacted domestic sales prices and operations [1][2][4]. Group 1: Market Overview - The global semiconductor market reached $346 billion in the first half of 2025, marking an 18.9% year-on-year growth, with analog chips growing by 4% [4]. - In the A-share market, the semiconductor industry reported revenues of 321.2 billion yuan and a net profit of nearly 24.5 billion yuan, reflecting a year-on-year growth of approximately 30% [4]. - The demand for analog chips, particularly in mobile fast charging and power management, is significantly increasing, with domestic products rapidly capturing market share [4]. Group 2: Company Performance - Companies like Xilin Micro and Chipone reported substantial revenue growth, with Xilin Micro achieving a 36.83% increase and a 131.25% rise in net profit [6]. - Chipone's revenue grew by 40.32%, with net profit increasing by 106.02%, driven by new product categories and market expansion [7]. - Jiewa Tech reported a 58.2% revenue increase, primarily from power and signal chain chips, with a total revenue of 11.87 billion yuan [7]. Group 3: Profitability and Margins - The analog chip industry's gross margin improved, with the median gross margin rising from 34.72% in Q1 to 35.05% in Q2 of 2025 [11]. - Leading companies like Saimo Micro and Shengbang Co. maintain gross margins above 50%, showcasing their competitive advantage in the market [11]. - Companies such as Naxin Micro and Aiwai Electronics reported significant improvements in gross margins due to high-value product offerings and operational efficiencies [12][13]. Group 4: Inventory Management - The inventory turnover days for most analog chip companies decreased significantly in 2025 compared to 2024, indicating improved inventory management efficiency [16]. - Companies like Jiewa Tech and Xilin Micro saw their inventory turnover days reduced by over 100 days, reflecting enhanced operational performance [16]. Group 5: Mergers and Acquisitions - The anti-dumping investigations have prompted domestic analog chip companies to pursue mergers and acquisitions to enhance their technological capabilities and market presence [17][19]. - Recent acquisitions include Biyimei's purchase of Shanghai Xingan Semiconductor for approximately 295 million yuan and Jingfeng Mingyuan's acquisition of Yichong Technology for 3.283 billion yuan [18][19]. - These strategic moves aim to consolidate resources, fill technological gaps, and improve competitiveness against international giants [19].

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].

证券代码：688508 证券简称：芯朋微 公告编号：2025-045 无锡芯朋微电子股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 09 月 22 日（星期一）13:00-14:00 无锡芯朋微电子股份有限公司（以下简称"公司"）已于 2025 年 8 月 16 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 09 月 22 日（星期一） 13:00-14:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度的经营 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范 围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2025 年 09 月 22 日（星期一）13:00-14: ...

Company Overview - Chipone Microelectronics Co., Ltd. is located in Wuxi, Jiangsu Province, China, and was established on December 23, 2005. The company went public on July 22, 2020. Its main business involves the research, design, production, sales, and related technical services of electronic components and integrated circuits [1]. - The company's revenue composition is primarily from integrated circuits, accounting for 99.60%, with other supplementary income making up 0.40% [1]. Financial Performance - For the first half of 2025, Chipone Microelectronics achieved a revenue of 636 million yuan, representing a year-on-year growth of 40.32%. The net profit attributable to shareholders was approximately 90.49 million yuan, showing a significant increase of 106.02% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 200 million yuan in dividends, with 98.64 million yuan distributed over the past three years [3]. Stock Performance - As of September 12, the stock price of Chipone Microelectronics increased by 2.38%, reaching 66.59 yuan per share, with a total market capitalization of 8.744 billion yuan. The stock has risen by 56.40% year-to-date and has shown a 4.00% increase over the last five trading days [1]. - The trading volume on September 12 was 241 million yuan, with a turnover rate of 2.81%. The net outflow of main funds was 4.59 million yuan, while large orders accounted for 29.98% of buying and 28.78% of selling [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 15,400, a rise of 6.19% from the previous period. The average number of circulating shares per person decreased by 5.83% to 8,508 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest, holding 2.8884 million shares, which is an increase of 311,700 shares compared to the previous period [3].

Core Viewpoint - The analog chip industry is in an upward cycle, with domestic companies expected to enter a phase of scale expansion for new products in the coming years [1][2] Industry Overview - The global analog chip market is projected to grow at a CAGR of 4.77% from 2004 to 2024, with expected growth rates of 3.3% and 5.1% in 2025 and 2026, reaching market sizes of $82.2 billion and $86.4 billion respectively [1] - Major domestic companies recommended include: Shengbang Co. (300661.SZ), Jiewate (688141.SH), Sirepu (688536.SH), Naxinwei (688052.SH), Nanxin Technology (688484.SH), Aiwei Electronics (688798.SH), Chipengwei (688508.SH), Diaowei (688381.SH), and Jingfeng Mingyuan (688368.SH) [1] Domestic Market Potential - In 2024, China is expected to account for approximately 35% of the global analog chip market, representing a significant revenue source for international manufacturers [2] - Major international companies like TI, ADI, and MPS are projected to generate revenues of approximately $30 million, $21 million, and $12 million from China in 2024, respectively [2] Key Application Areas - **Industrial Sector**: After inventory depletion, normal procurement and new product introduction are expected to resume, with domestic companies' new products likely to achieve scale [2] - **AI Sector**: The AI industry is driving overall demand for analog chips, with a focus on domestic production of core power management chips [2] - **Automotive Sector**: The electrification and intelligence of vehicles provide growth opportunities for domestic analog chip companies, with the market for automotive analog chips still in its early stages [3] - **Consumer Electronics**: Companies are increasingly diversifying their product offerings to provide comprehensive solutions for applications like mobile devices, leading to a more pronounced "Matthew Effect" [3]

Transaction Overview - On June 21, 2024, the company signed an agreement to sell 1.6667% of its stake in ChipLink Integrated Circuit Manufacturing Co., Ltd. to ChipLink for a total consideration of RMB 135.8667 million [2] - The transaction was approved by the company's board on September 4, 2024, and subsequently by the shareholders at an extraordinary general meeting on September 20, 2024 [2] Financial Details - The total transfer price for the stake is RMB 135.8667 million, with RMB 122.28 million paid through share issuance and RMB 13.5867 million paid in cash [2] - As of the announcement date, the company has received the cash portion of RMB 13.5867 million, and 30,267,326 shares of ChipLink stock have been registered [3]

证券代码：688508 证券简称：芯朋微 公告编号：2025-044 无锡芯朋微电子股份有限公司 关于出售参股公司股权进展的公告 特此公告。 无锡芯朋微电子股份有限公司 2025 年 9 月 6 日 一、 交易情况 2024 年 6 月 21 日，无锡芯朋微电子股份有限公司（以下简称"公司"）与 芯联集成电路制造股份有限公司（以下简称"芯联集成"）签署《发行股份及支 付现金购买资产协议》，公司拟向芯联集成出售所持有的芯联越州集成电路制造 （绍兴）有限公司（以下简称"芯联越州"）1.6667%的股权。 2024 年 9 月 4 日，公司召开第五届董事会第十次会议，审议通过了《关于 出售参股公司股权的议案》并提请公司股东大会审议。 2024 年 9 月 20 日，公司召开 2024 年第四次临时股东大会，审议通过了《关 于出售参股公司股权的议案》，同意公司拟向芯联集成转让所持有的芯联越州 1.6667%的股权，转让价格为 13,586.67 万人民币，其中通过发行股份方式支付的 对价金额为人民币 12,228.00 万元，通过支付现金方式支付的对价金额为人民币 1,358.67 万元。具体信息详见公司在上海证券交 ...

Market Performance - The large fund concept sector increased by 2.8% on September 5, with Baiwei Storage leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Individual Stock Performance - Baiwei Storage (688525) closed at 71.66, with a rise of 12.89% and a trading volume of 304,500 shares, amounting to a transaction value of 2.11 billion [1] - Shenzhen South Circuit (002916) closed at 182.25, up 7.97%, with a trading volume of 157,000 shares and a transaction value of 2.75 billion [1] - Jingrui Electronic Materials (300655) closed at 13.20, up 7.76%, with a trading volume of 1,564,100 shares and a transaction value of 2.00 billion [1] - Jiangbolong (301308) closed at 93.59, up 7.72%, with a trading volume of 110,480 shares and a transaction value of 0.95 billion [1] - Other notable stocks include Saiwei Electronics (300456) up 6.87%, Sanan Optoelectronics (600703) up 6.67%, and Guoxin Technology (688262) up 5.66% [1] Fund Flow Analysis - The large fund concept sector saw a net inflow of 83.92 million from institutional investors, while retail investors contributed a net inflow of 620 million [1] - Notable net inflows from individual stocks include Sanan Optoelectronics with 17.8 million and Jingrui Electronic Materials with 13.7 million [2] - Conversely, retail investors showed significant outflows in several stocks, including Baiwei Storage with a net outflow of 127 million and Jingrui Electronic Materials with a net outflow of 94.4 million [2]