Core Viewpoint - The company Huizhiwei (688512.SH) announced that its shareholder GZPA plans to reduce its holdings through centralized bidding and block trading, with a total reduction of no more than 10.52 million shares, accounting for up to 2.25% of the company's total shares [1] Summary by Category - **Shareholder Actions** - GZPA intends to reduce its stake in the company by up to 10.52 million shares [1] - The reduction will not exceed 2.25% of the total shares outstanding [1] - The reduction period is set to begin three trading days after the announcement and will last for three months [1]

证券代码：688512 证券简称：慧智微 公告编号：2025-045 广州慧智微电子股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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： 股东持有的基本情况 截至本公告披露日，GZPA Holding Limited（以下简称"GZPA"）持有广州 慧智微电子股份有限公司（以下简称"公司"）股份 10,521,604 股，持股比例 2.25%。 前述股份来源于公司首次公开发行股票并上市前持有的股份，已于 2024 年 5 月 16 日解除限售并上市流通。 减持计划的主要内容 公司于近日收到股东 GZPA 出具的《关于股东减持计划的告知函》，因自身 资金需求，GZPA 拟通过集中竞价、大宗交易的方式减持所持公司股份，合计减 持不超过 10,521,604 股，合计减持比例不超过公司股份总数的 2.25%，自本公告 披露之日起 3 个交易日后的 3 个月内进行。 上述减持价格将根据减持时的市场价格确定，若在减持计划实施期间公司发 生送股、资本公积转增股本、配股等股份变更事 ...

Core Viewpoint - The company, Huizhiwei (688512.SH), clarified on the investor interaction platform that it does not have any collaboration with Huawei [1] Group 1 - The company confirmed the absence of a partnership with Huawei, which may impact investor perceptions and market positioning [1]

| 变更项目 | 变更前 | 变更后 | | --- | --- | --- | | 办公地址 | 广州市高新技术产业开发区科学城科学 大道182号创新大厦C2第八层 | 广州市黄埔区开创大道1565号11层 | | 邮政编码 | 510663 | 510000 | 证券代码：688512 证券简称：慧智微 公告编号：2025-044 广州慧智微电子股份有限公司 关于变更办公地址的公告 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、准确性和完整性依法承担法律责任。 广州慧智微电子股份有限公司（以下简称"公司"）因经营发展需要，于近日搬 迁至新地址办公，现将公司主要办公地址变更的具体情况公告如下： 除上述变更外，公司网址、投资者热线、电子邮箱等其他联系方式均保持不变， 具体如下： 公司网址：http://www.smartermicro.com 投资者联系电话：020-82258480 广州慧智微电子股份有限公司 董事会 2025年11月4日 传真：020-82258993 电子邮箱：db@smartermicro.com 敬请广大投资者关注，由此带来的不 ...

Core Insights - The latest investment direction of the "National Big Fund" has emerged, with 30 A-share listed companies having the fund as a significant shareholder [1] Group 1: Investment Holdings - The "National Big Fund" has significant holdings in companies such as Northern Huachuang, Hushi Silicon Industry, and Tuojing Technology, among others [1] - The fund's investments are primarily in the semiconductor and integrated circuit sectors, reflecting a strategic focus on these industries [1] Group 2: Company Performance - Northern Huachuang reported a Q3 revenue of 11.16 billion yuan, a year-on-year increase of 38.31%, with a net profit of 1.92 billion yuan, up 14.60% [3] - Hushi Silicon Industry achieved a Q3 revenue of 944 million yuan, a 3.79% increase, but reported a net loss of 265 million yuan [4] - Tuojing Technology saw a significant Q3 revenue increase of 124.15% to 2.27 billion yuan, with a net profit of 462 million yuan, up 225.07% [5]

Group 1 - The core viewpoint of the news is that Huizhi Microelectronics has shown significant financial activity, with a notable increase in revenue and a rise in shareholder numbers, despite reporting a net loss [1][2]. Group 2 - As of October 30, Huizhi Microelectronics' stock price decreased by 0.84%, with a trading volume of 74.13 million yuan [1]. - The financing data indicates that on the same day, the company had a financing buy-in amount of 5.5963 million yuan and a financing repayment of 11.4781 million yuan, resulting in a net financing buy of -5.8818 million yuan [1]. - The total balance of margin trading for Huizhi Microelectronics reached 158 million yuan, accounting for 4.13% of its circulating market value, which is above the 70th percentile of the past year [1]. - The company had no short selling activity on October 30, with a short selling balance of 0.00 shares, indicating a high level of short selling availability compared to the past year [1]. Group 3 - As of September 30, the number of Huizhi Microelectronics' shareholders increased to 17,700, reflecting a 9.39% rise, while the average circulating shares per person decreased by 8.59% to 18,296 shares [2]. - For the period from January to September 2025, Huizhi Microelectronics reported a revenue of 568 million yuan, marking a year-on-year growth of 48.04%, while the net profit attributable to the parent company was -122 million yuan, showing a year-on-year increase of 58.98% [2]. Group 4 - Huizhi Microelectronics, established on November 11, 2011, and listed on May 16, 2023, specializes in the research, design, and sales of RF front-end chips and modules, with 55.01% of its revenue coming from 5G modules and 44.80% from 4G modules [1].

Core Insights - HuiZhiWei, established in November 2011, is a leading domestic RF front-end chip company that went public on May 16, 2023, on the Shanghai Stock Exchange [1] Group 1: Business Performance - In Q3 2025, HuiZhiWei reported revenue of 568 million yuan, ranking 19th among 34 companies in the industry, with the industry leader, WitsView, generating 3.521 billion yuan [2] - The revenue composition includes 195 million yuan from 5G modules (55.01%) and 159 million yuan from 4G modules (44.80%) [2] - The net profit for the same period was -122 million yuan, placing the company 29th in the industry, with the industry leader achieving a net profit of 677 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, HuiZhiWei's debt-to-asset ratio was 24.86%, higher than the previous year's 15.56% and above the industry average of 16.92%, indicating increased debt pressure [3] - The gross profit margin was reported at 7.77%, significantly lower than the industry average of 36.44%, although it improved from 1.13% in the previous year [3] Group 3: Management and Shareholder Information - The chairman and general manager, Li Yang, received a salary of 1.0887 million yuan in 2024, an increase of 11,000 yuan from the previous year [4] - As of September 30, 2025, the number of A-share shareholders increased by 9.39% to 17,700, while the average number of circulating A-shares held per shareholder decreased by 8.59% [5] Group 4: Market Outlook - In the first half of 2025, the company achieved revenue of 355 million yuan, a year-on-year increase of 39.97%, while the net profit was -65 million yuan, reducing losses by 118 million yuan [6] - The company is expected to benefit from stable shipments to platform customers and Samsung, with new products like Phase8L L-PAMID entering mass production [6] - Investment recommendations suggest a target price of 17.20 yuan, maintaining a "buy" rating, with revised revenue forecasts for 2025-2027 [6]

Core Viewpoint - The company HuiZhiWei (688512.SH) reported a significant increase in revenue for Q3 2025, but also posted a net loss attributed to shareholders. Financial Performance - The company's operating revenue reached 213 million yuan, representing a year-on-year increase of 63.73% [1] - The net profit attributable to shareholders was -57.11 million yuan [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was -68.33 million yuan [1]

证券代码：688512 证券简称：慧智微 公告编号：2025-041 广州慧智微电子股份有限公司 关于注销2021年股票期权激励计划部分股票期权的公告 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、准确性和完整性依法承担法律责任。 广州慧智微电子股份有限公司（以下简称"公司"）于2025年10月30日召开第二 届董事会第九次会议，审议通过了《关于注销2021年股票期权激励计划部分股票期权 的议案》。鉴于1名持有1.80万份已授予但尚未行权股票期权的激励对象因离职已不符 合《2021年股票期权激励计划》中有关激励对象的规定，以及本激励计划第二个行权 期第一期激励对象的行权期已于2025年9月30日结束，激励对象尚有19.50万份当期股 票期权未行权，董事会根据《2021年股票期权激励计划》的规定，同意注销共计21.30 万份股票期权，现将具体情况公告如下： 一、股权激励计划方案及履行程序 2021年3月29日，广州慧智微电子有限公司（下称"慧智有限"）做出董事会决议， 为了达到对核心员工的激励并吸引优秀人才加盟，公司董事会审议通过期权激励方案： 期权预留总 ...

关于广州慧智微电子股份有限公司 2021 年股票期权 激励计划之第三个行权期第一期激励对象行权条件 成就及注销部分股票期权的 法律意见书 二〇二五年十月 北京市中伦（广州）律师事务所 法律意见书 北京市中伦（广州）律师事务所 关于广州慧智微电子股份有限公司 2021 年股票期权激励计划之 第三个行权期第一期激励对象行权条件成就及注销部分股票期 权的法律意见书 致：广州慧智微电子股份有限公司 北京市中伦（广州）律师事务所（简称"本所"）受广州慧智微电子股份有 限公司（简称"慧智微"、"公司"）的委托，作为慧智微 2021 年股票期权激励计 划第三个行权期第一期激励对象行权条件成就（以下简称"本次行权"）及注销 2021 年股票期权激励计划部分股票期权（以下简称"本次注销"）的相关事宜的 法律顾问，就本次行权及本次注销的相关事宜进行核查，并出具本法律意见书。 本所根据《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"）颁发的《上市公司股权激励管理办法》（以下简称"《管理办法》"） 等法律、法规及规范性文件以及《 ...