芯朋微公告，2025年第一季度营收为3.01亿元，同比增长48.23%；净利润为4107.29万元，同比增长 72.54%。 ...

好的各位投资者大家晚上好我是中游电子的万伟今天我们也是非常荣幸的邀请到了新铜威的总经理易博来给我们分享一下公司整体的一个情况在开始之前还是再强调一下合规声明不要录音不要外发任何纪要所有的文字解释全归上市公司所有 下面的话我们先请孙总来给我们介绍一下2024年年报的一个整体的一个情况 好的各位晚上好欢迎大家参加新罗威2024年度的业绩说明会在进入问答环节之前我们先对公司2024年的经营情况进一个回顾2024年因为我们高度看好和坚持大脑体能源赛道然后不断扩大在智能家电、电力能源、智能终端工业固质和AI计算五大重点应用市场 操控客户的信任和实战率2024年新鹏威在销售额和利润端都取得了显著的增长2024年的公司的总体营收是9.65亿比2023年增长了23.61%分纪录来看分别是2.03、2.40 2.53和2.57亿元营收在足迹攀升然后同时公司通过技术平台持续迭代来保证毛利率然后2024年全年的总统毛利率是37%和2023年大致是停毛利率稳定费用方面然后公司三倍中主要是研发费用全年的话是2.3亿然后占营收的比例是23.44% 同比是上升了7.13%这个主要是因为2024年度公司引进了多名国际的知名IC公司技术专家和 ...

Investment Rating - The report maintains a "Buy" rating for several companies in the semiconductor sector, including 圣邦股份 (Sengbang), 纳芯微 (Naxinwei), and others [8][16]. Core Insights - The newly released semiconductor origin recognition rules indicate that the location of wafer fabrication will be considered the origin, potentially increasing costs for chips fabricated in the U.S. due to tariffs [4][14]. - The CITE 2025 exhibition showcased over 1,000 exhibitors and highlighted advancements in smart terminals, AI, and other cutting-edge technologies [5][15]. - The electronic industry experienced a decline of 3.31% from April 7 to April 11, ranking 14th among all sectors, with a current P/E ratio of 52.63 [21][24]. Summary by Sections Market Performance - The electronic sector's performance was down by 3.31% during the week of April 7-11, with semiconductor equipment and analog chip design showing slight increases [21][25]. - The report notes that the semiconductor materials and discrete devices sectors ranked fourth and fifth in terms of valuation [25]. Key Companies and Earnings Forecast - The report highlights several companies with their respective earnings per share (EPS) and price-to-earnings (P/E) ratios, recommending a "Buy" for companies like 圣邦股份 (Sengbang) and 纳芯微 (Naxinwei) [8][16]. - The earnings forecasts for 2023, 2024E, and 2025E are provided for each company, indicating growth potential [16][33]. Industry Dynamics - The report discusses the impact of U.S. tariffs on semiconductor products, particularly affecting analog chips fabricated in the U.S. [4][14]. - The CITE 2025 event emphasized the importance of innovation in the electronics sector, showcasing new products and technologies [5][15]. Overseas Leaders Overview - The report notes that overseas semiconductor leaders showed varied performance, with 博通 (Broadcom) leading with a 17.78% increase [17][18]. - The Philadelphia Semiconductor Index reflects a mixed trend, indicating fluctuations in the semiconductor market [19][20].

证券代码：688508 证券简称：芯朋微 无锡芯朋微电子股份有限公司 2024 年年度股东大会会议资料 二〇二五年四月 1 无锡芯朋微电子股份有限公司 2024 年年度股东大会会议资料 无锡芯朋微电子股份有限公司 2024 年年度股东大会会议资料目录 | 年年度股东大会须知 2024 | 3 | | --- | --- | | 2024 年年度股东大会会议议程 | 5 | | 2024 年年度股东大会会议议案 | 7 | | 议案一：《关于<2024 | 年度董事会工作报告>的议案》 7 | | 议案二：《关于<2024 | 年年度报告>及摘要的议案》 8 | | 议案三：《关于<2024 | 年度财务决算报告>的议案》 9 | | 议案四：《关于<2025 | 年度财务预算报告>的议案》 10 | | 议案五：《关于<2024 | 年度利润分配预案>的议案》 11 | | 议案六：《关于公司续聘北京德皓国际会计师事务所（特殊普通合伙）为 | 年 2025 | | 度会计师事务所的议案》 | 12 | | 议案七：《关于公司董事 | 年度薪酬方案的议案》 13 2025 | | 议案八：《关于公司及子公司申请 ...

国泰君安证券股份有限公司 关于无锡芯朋微电子股份有限公司 2024 年度持续督导跟踪报告 序号 工作内容 持续督导情况 1 建立健全并有效执行持续督导工作制度，并 针对具体的持续督导工作制定相应的工作 计划 保荐人已建立健全并有效执行了持 续督导制度，并制定了相应的工作计 划 2 根据中国证监会相关规定，在持续督导工作 开始前，与上市公司签署持续督导协议，明 确双方在持续督导期间的权利义务，并报上 海证券交易所备案 保荐人已与芯朋微签订承销及保荐 协议，该协议明确了双方在持续督导 期间的权利和义务，并报上海证券交 易所备案 3 通过日常沟通、定期回访、现场检查、尽职 调查等方式开展持续督导工作 保荐人通过日常沟通、定期或不定期 回访等方式，了解芯朋微经营情况， 对芯朋微开展持续督导工作 4 持续督导期间，按照有关规定对上市公司违 法违规事项公开发表声明的，应于披露前向 上海证券交易所报告，并经上海证券交易所 审核后在指定媒体上公告 2024 年，芯朋微在持续督导期间未 发生按有关规定须保荐人公开发表 声明的违法违规情况 5 持续督导期间，上市公司或相关当事人出现 违法违规、违背承诺等事项的，应自发现或 应当自 ...

核心观点 1、2024 年公司营业收入保持增长，盈利能力显著提升。智能家电业务受益于市占率提升以及"以旧换 新"政策助推，延续高增长，标准电源和工业驱动业务触底反弹。 2、公司不断拓宽业务增长路径，扩大下游行业应用范围，以全面覆盖智能家电、电力能源、智能终 端、工业控制和AI 计算等五大重点市场应用领域的功率半导体需求为战略市场目标。 3、公司持续迭代技术平台并与产业链上游密切合作开发工艺，形成差异化战略级技术护城河。 事件 公司发布2024 年财报。2024 年，公司实现营业收入9.65 亿元，同比增长23.61%；归母净利润1.11 亿 元，同比增长87. 18%。 （1）市场需求恢复不达预期：受宏观经济变化的影响，下游需求复苏进度存在不确定性，终端客户可 能需要调节库存，导致对上游供应链的拉货强度减弱； 简评 1、智能家电延续高增长，标准电源与工业驱动触底反弹2024 年，公司实现营业收入9.65 亿元，同比增 长23.61% ，综合毛利率36.75%，同比基本持平。分业务结构来看，智能家电业务收入6.21 亿元，占比 64.4%，同比增长28.7%；标准电源业务收入1.74 亿元，占比18.1%，同比 ...

证券研究报告 | 2025年04月01日 芯朋微（688508.SH） 优于大市 2024 年推出逾百款新品，四季度收入创季度新高 2024 年收入同比增长 24%，四季度创季度新高。公司 2024 年实现收入 9.65 亿元(YoY +23.61%)，归母净利润 1.11 亿元(YoY +87.18%)，扣非归母净利 润 0.73 亿元(YoY +118%)，毛利率由于产品结构变化下降 1.2pct 至 36.75%， 研发费用增长 7%至 2.26 亿元，研发费率下降 3.6pct 至 23.44%。其中 4Q24 营收 2.57 亿元(YoY +28.41%, QoQ +1.35%)，创季度新高，归母净利润 3409 万元，扣非归母净利润 642 万元，毛利率 36.39%（YoY +0.5pct，QoQ -1.2pct）。 三大产品线收入均增长，家电类芯片毛利率稳定。分产品线看，2024 年公司 家用电器类芯片收入 6.21 亿元(YoY +28.73%)，占比 64%，毛利率提高 0.3pct 至 38.65%；标准电源类芯片收入 1.74 亿元(YoY +19.08%)，占比 18%，毛利 率下降 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [6] Core Views - The company is expected to achieve a revenue of 965 million yuan in 2024, representing a year-on-year growth of 23.61%, with a net profit of 111 million yuan, reflecting an increase of 87.18% [1] - The company plans to launch over 100 new products in 2024, expanding its product lines and applications in downstream industries [3] - The shift in business model towards Fablite is underway, with over 60% of wafers adopting COT or semi-custom cooperation processes [3] Financial Performance - In 2024, the company reported a revenue of 965 million yuan, with a gross profit margin of 36.75%, down 1.2 percentage points from the previous year [1] - The fourth quarter of 2024 saw a revenue of 257 million yuan, marking a quarterly high and a year-on-year increase of 28.41% [1] - The company’s R&D expenses grew by 7% to 226 million yuan, with an R&D expense ratio of 23.44% [1] Product Line Performance - Revenue from home appliance chips reached 621 million yuan in 2024, accounting for 64% of total revenue, with a gross margin increase of 0.3 percentage points to 38.65% [2] - Standard power chips generated 174 million yuan in revenue, representing a year-on-year growth of 19.08%, but with a gross margin decrease of 2.6 percentage points to 24.12% [2] - Industrial control power chips had a revenue of 165 million yuan, with a year-on-year growth of 14.32% and a gross margin decrease of 4.7 percentage points to 44.36% [2] Future Projections - The company’s projected net profits for 2025 and 2026 are 147 million yuan and 196 million yuan, respectively, with an expected net profit of 229 million yuan in 2027 [4] - The estimated price-to-earnings (PE) ratios for 2025, 2026, and 2027 are 44x, 34x, and 29x, respectively [4] - Revenue is expected to grow to 1.182 billion yuan in 2025, with a growth rate of 22.6% [5]

Investment Rating - The report maintains a "Buy" rating for Chipown Microelectronics (688508) [4] Core Views - The company achieved a revenue of 965 million yuan in 2024, representing a year-on-year growth of 23.61%, and a net profit attributable to shareholders of 111 million yuan, with a significant increase of 87.18% [1][2] - The company focuses on the semiconductor energy sector, covering five key application areas: smart home appliances, power energy, smart terminals, industrial control, and AI computing, aiming to expand its market share among top customers [2] - Continuous investment in R&D is evident, with R&D expenses projected at 226 million yuan in 2024, accounting for 23.44% of revenue, and the launch of over 100 new products [3] Summary by Sections Financial Performance - In 2024, the company reported a revenue of 965 million yuan, with a growth rate of 23.61%. The revenue from home appliance chips was 621 million yuan, up 28.73%, while standard power chips generated 174 million yuan, a 19.08% increase [2][6] - The net profit attributable to shareholders for 2024 was 111 million yuan, reflecting an 87.18% increase compared to the previous year [1][6] Future Projections - Revenue projections for 2025, 2026, and 2027 are estimated at 1.16 billion yuan, 1.45 billion yuan, and 1.82 billion yuan, respectively, with net profits expected to be 160 million yuan, 220 million yuan, and 290 million yuan [4][6] R&D and Product Development - The company is committed to expanding its product lines and applications in downstream industries, with significant breakthroughs in new technologies and products, including high-voltage isolation half-bridge chips and digital controllers [3] - The focus on new product design and development is expected to enhance the company's growth in emerging fields such as renewable energy, robotics, and AI computing [3]

关于召开 2024 年年度股东大会的通知 本公司董事会及全体董事保证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： 证券代码：688508 证券简称：芯朋微 公告编号：2025-014 无锡芯朋微电子股份有限公司 一、 召开会议的基本情况 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 4 月 22 日 至 2025 年 4 月 22 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 （一） 股东大会类型和届次 2024 年年度股东大会 召开日期时间：2025 年 4 月 22 日 10 点 00 分 召开地点：无锡市新吴区长江路 16 号芯朋大厦 2 楼会议室 股东大会召开日期：2025年4月22日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （五） 网络投票的系统、起止日期和投票时间。 二、 会议审议事项 本次股东大会审议议案及投票股东类型 | 序号 | 议案名称 | 投票股东类型 | | --- | --- | --- | | | | 股股东 ...