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]

Core Points - The company has completed the equity transfer related to its stake in Chip Union Integrated Payment, receiving a cash payment of RMB 13.5867 million and having 30.2673 million shares of Chip Union Integrated stock registered [1] Group 1 - The company sold a 1.6667% stake in Chip Union Yuezhou Integrated Circuit Manufacturing (Shaoxing) Co., Ltd. for a total price of RMB 136 million [1] - The payment structure for the equity transfer includes RMB 122 million through share issuance and RMB 13.5867 million in cash [1]

Core Viewpoint - The company, Wuxi Chipeng Microelectronics Co., Ltd., has shown significant growth in revenue and is actively expanding its product lines and market presence, particularly in the industrial sector, while facing various operational and market risks. Financial Performance - The company achieved operating revenue of 636 million yuan, a year-on-year increase of 40.32%, driven by accelerated penetration of new products and expansion into new markets [2][16] - The net cash flow from operating activities significantly decreased due to increased procurement costs and changes in supplier payment terms [2] - R&D expenditure accounted for 19.69% of operating revenue, with an increase in R&D personnel salaries contributing to the rise in R&D spending [12][22] Stock Issuance - In August 2023, the company issued 17,904,986 shares at a price of 54.11 yuan per share, raising approximately 968.84 million yuan, with a net amount of about 959.88 million yuan after deducting issuance costs [3][24] Risk Factors - The company faces core competitiveness risks due to rapid technological advancements in the integrated circuit design industry, which necessitates continuous R&D investment [12] - Market and operational risks arise from intense competition with established foreign companies and the need for customer certification for new products [13][14] - High supplier concentration poses a risk, as any disruption from key suppliers could impact production and costs [14] Competitive Advantages - The company has developed a robust core technology platform, enabling it to produce a range of power semiconductor products that meet stringent global standards [17][19] - A strong R&D team, comprising 71.77% of the workforce, supports continuous innovation and product development [21][22] - Strategic partnerships with leading manufacturers enhance the company's supply chain efficiency and product reliability [20][22] Product Development - The company has expanded its product offerings to include a comprehensive range of power solutions for various applications, including home appliances and industrial equipment [19][20] - Continuous upgrades to its technology platform have allowed the company to maintain a competitive edge and meet evolving market demands [17][19] Compliance and Governance - The company has established internal systems and controls to ensure compliance with legal and regulatory requirements, enhancing transparency and accountability [5][6] - Ongoing supervision by the sponsoring institution ensures adherence to disclosure obligations and corporate governance standards [4][5]

国泰海通证券股份有限公司 关于无锡芯朋微电子股份有限公司 2025 年半年度持续督导跟踪报告 2 项 目 工作内容 1、建立健全并有效执行持续督导工作制度， 针对公司的具体情况确定持续督导的内容和 重点，督导公司履行有关上市公司规范运作、 信守承诺和信息披露等义务，审阅信息披露文 件及向中国证监会、证券交易所或其他机构提 交的其他文件，并按保荐办法要求承担相关持 续督导工作。 保荐机构已建立健全并有效执行持续督导工 作制度，针对公司的具体情况确定持续督导的 内容和重点，督导公司履行有关上市公司规范 运作、信守承诺和信息披露等义务，审阅信息 披露文件及向中国证监会、证券交易所或其他 机构提交的其他文件，并按保荐办法要求承担 相关持续督导工作。 2、根据上市规则规定，与公司就持续督导期 间的权利义务签订持续督导协议。 保荐机构已与上市公司签署了保荐协议，协议 明确了双方在持续督导期间的权利和义务。 3、协助和督促上市公司建立相应的内部制度、 决策程序及内控机制，以符合法律法规和上市 规则的要求，并确保上市公司及其控股股东、 实际控制人、董事、监事和高级管理人员、核 心技术人员知晓其在上市规则下的各项义务。 保荐机 ...

Core Viewpoint - The company has made significant breakthroughs and mass production in high-voltage, high-reliability AC-DC products, particularly for industrial clients, including server customers [1] Group 1 - The company has developed power chips that are being applied in computing servers [1] - The company’s products include a 12/20-phase digital controller, a 70A DrMOS chip, and a series of high-integration power chips with 48V input, which are in trial and mass production [1] - Some of the power and driver chips developed by the company are utilized in cooling systems [1]

Core Viewpoint - The company has achieved significant breakthroughs and mass production of its high-voltage, high-reliability AC-DC products among industrial clients, including server customers [1] Group 1: Product Development - The company has launched a series of products including a 12/20-phase digital controller, 70ADrMOS chip set, and a high-integration power chip series for 48V input, which are now in trial and mass production [1] - The company has developed high-current EFUSE chips that are also entering trial and mass production [1] Group 2: Application Areas - Some of the company's power and driver chips are being applied in cooling systems [1]

金融界消息 截至2025年8月25日收盘，芯朋微（688508）报收于65.81元，下跌0.95%，换手率8.73%， 成交量11.46万手，成交金额7.60亿元。 通过天眼查大数据分析，无锡芯朋微电子股份有限公司共对外投资了12家企业，参与招投标项目5次， 知识产权方面有商标信息48条，专利信息81条，此外企业还拥有行政许可13个。 资金流向方面，今日主力资金净流出1824.52万元，占比成交额2.4%。其中，超大单净流入882.93万 元、占成交额1.16%，大单净流出2707.45万元、占成交额3.56%，中单净流出流入2576.95万元、占成交 额3.39%，小单净流出752.43万元、占成交额0.99%。 来源：金融界 芯朋微最新一期业绩显示，截至2025中报，公司营业总收入6.36亿元、同比增长40.32%，归属净利润 9049.35万元，同比增长106.02%，扣非净利润6844.16万元，同比增长50.56%，流动比率4.690、速动比 率4.026、资产负债率18.15%。 天眼查商业履历信息显示，无锡芯朋微电子股份有限公司，成立于2005年，位于无锡市，是一家以从事 计算机、通信和其他电子 ...