证券代码：688521 证券简称：芯原股份 芯原微电子（上海）股份有限公司 2026 年第一次临时股东会会议材料 二〇二六年三月 目 录 | 芯原微电子（上海）股份有限公司 2026 年第一次临时股东会会议须知 2 | | | --- | --- | | 芯原微电子（上海）股份有限公司 2026 年第一次临时股东会会议议程 4 | | | 芯原微电子（上海）股份有限公司 2026 年第一次临时股东会会议议案 6 | | | 议案一 H 股股票并在香港联合交易所有限公司上市的议案 6 | 关于公司发行 | | 议案二 股股票并在香港联合交易所有限公司上市方案的议案 | 关于公司发行 H | | 7 | | | 议案三 关于公司转为境外募集股份有限公司的议案 10 | | | 议案四 H 股股票募集资金使用计划的议案 11 | 关于公司发行 | | 议案五 股股票发行上市决议有效期的议案 12 | 关于 H | | 议案六 关于提请股东会授权董事会及其授权人士全权处理与本次 股股票发 H | | | 行上市有关事项的议案 13 | | | 议案七 H 股之前滚存利润分配方案的议案 20 | 关于公司发行 | | ...

Core Viewpoint - Chipone Microelectronics (Shanghai) Co., Ltd. plans to issue H-shares and list on the Hong Kong Stock Exchange to support business development, attract talent, and enhance its international strategy and capital strength [1] Group 1: H-share Issuance - The company intends to issue H-shares not exceeding 10% of the total share capital post-issuance, with funds primarily allocated for R&D, global marketing network development, strategic investments, and general corporate purposes [1] - The expected revenue for 2025 is approximately 3.152 billion yuan, representing a 35.77% increase from 2024, with a projected total profit of -513 million yuan [1] Group 2: R&D Investment - In 2025, the company plans to invest 1.349 billion yuan in R&D, accounting for about 43% of its revenue [1] - Revenue from mass production is expected to grow by 73.98%, while chip design revenue is projected to increase by 20.94% [1] - Revenue from data processing is anticipated to grow by over 95%, contributing approximately 34% to total revenue [1] Group 3: Company Background - Chipone was listed in 2020 and is recognized as "China's first semiconductor IP stock," with a diverse portfolio of IPs including GPU, NPU, VPU, DSP, ISP, and Display Processing IPs [2] - The company has a strong focus on AI applications and has developed customized hardware and software solutions for various sectors, including smart wearables, AI PCs, and data centers [2] - Chipone has made several strategic acquisitions to enhance its capabilities, including the purchase of LSI Logic's DSP division and a leading GPU supplier in the automotive sector [2]

Investment Rating - The report maintains a rating of "Buy" for several key stocks in the optical communication sector, including Dongshan Precision, Shenghong Technology, and others [7][11]. Core Insights - The OFC 2026 conference is set to take place from March 15 to March 19, 2026, in California, coinciding with a critical point in the demand for optical interconnects driven by AI data centers [1][14]. - The report highlights the significant advancements in optical communication technologies, including the transition from 800G to 1.6T products and the evolution of architectures from copper cables to Co-Packaged Optics (CPO) [1][15]. - NVIDIA's investment of $4 billion in optical technology, including $2 billion each in Lumentum and Coherent, indicates a strategic move to secure key components for future optical interconnects [3][4]. - The penetration rate of CPO technology in AI data center optical communication modules is expected to reach 35% by 2030, driven by advancements in silicon photonics and CPO packaging technologies [3][4]. Summary by Sections OFC 2026 Conference Preview - The OFC 2026 conference will feature key players from the optical communication industry, including Coherent, Lumentum, and major tech companies like NVIDIA, Google, and Meta, focusing on the future of optical interconnect technologies [1][14]. - The conference will address critical topics such as the technology paths for 1.6T and 3.2T optical modules, CPO, and new optical I/O architectures [1][16]. NVIDIA's Strategic Moves - NVIDIA's NVLink 6 protocol supports a single-channel 400G SerDes, with a bandwidth limit of 3.6 TB/s per GPU, highlighting the limitations of copper cables in high-frequency transmission [2][3]. - The company is preparing for future bandwidth demands by investing in optical transmission solutions, which are essential for scaling up data center interconnects [2][3]. Supply Chain Dynamics - Lumentum reports a 25%-30% supply gap for EML components, with orders locked in until the end of 2027, indicating strong demand for optical components [4][20]. - Dongshan Precision is rapidly entering the optical communication market through its acquisition of Solstice Photonics, which has a dual technology reserve in EML and silicon photonics [4][20]. Market Trends and Projections - The report indicates a significant shift in the optical communication landscape, with traditional copper interconnects nearing their physical limits, pushing the industry towards optical solutions [15][16]. - The demand for optical interconnects is expected to grow substantially, with predictions that over 35% of AI data center optical communication modules will utilize CPO technology by 2030 [3][4].

关于股东权益变动触及 5%刻度的提示性公告 证券代码：688521 证券简称：芯原股份 公告编号：2026-016 芯原微电子（上海）股份有限公司 嘉兴时兴创业投资合伙企业（有限合伙）、嘉兴海橙创业投资合伙企业（有 限合伙）、共青城文兴投资合伙企业（有限合伙）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。 重要内容提示： 本次权益变动后，嘉兴时兴创业投资合伙企业（有限合伙）（以下简称 "嘉兴时兴"）、嘉兴海橙创业投资合伙企业（有限合伙）（以下简称"嘉兴海 橙"）、共青城文兴投资合伙企业（有限合伙）（以下简称"共青城文兴"，与 嘉兴时兴、嘉兴海橙合称"兴橙投资方"）合计持有公司股份 26,295,761 股，占 公司总股本的比例为 4.999999%，不再是公司持股 5%以上的股东。 本次权益变动为兴橙投资方履行此前披露的减持计划，不触及要约收购。 本次减持事项与股东此前已披露的计划、承诺一致。 本次权益变动不会导致公司控股股东和实际控制人发生变化，不会对公 司治理结构及持续经营产生重大影响。 芯原微电子（上海） ...

芯原微电子(上海)股份有限公司 简式权益变动报告书 上市公司名称:芯原微电子(上海)股份有限公司 股票上市地点:上海证券交易所科创板 股票简称:芯原股份 股票代码:688521 信息披露义务人一: 嘉兴时兴创业投资合伙企业(有限合伙) 通讯地址:上海市浦东新区金秋路 158 号张润大厦 2 号 501 信息披露义务人二:嘉兴海橙创业投资合伙企业(有限合伙) 通讯地址:上海市浦东新区金秋路 158 号张润大厦 2 号 501 信息披露义务人三:共青城文兴投资合伙企业(有限合伙) 通讯地址:上海市浦东新区金秋路 158 号张润大厦2 号 501 权益变动性质:股份减少 权益变动报告书签署日期:2026年3月13日 信息披露义务人声明 一、本报告系根据《中华人民共和国证券法》《上市公司收购管理办法》《公开 发行证券的公司信息披露内容与格式准则第 15号 -- 权益变动报告书》及相关 的法律、法规和规范性文件编写。 二、信息披露义务人签署本报告已获得必要的授权和批准,其履行亦不违反信息 披露义务人章程或内部规则中的任何条款,或与之相冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定,本报告 书已全 ...

Summary of Chipone's Conference Call Company Overview - **Company**: Chipone Technology Co., Ltd. (芯原股份) - **Industry**: AI ASIC (Application-Specific Integrated Circuit) Key Points IPO and Fundraising Strategy - Chipone plans to issue up to 15% of its shares in Hong Kong, including a green shoe option, to establish an international financing platform for global marketing, key technology R&D, and potential strategic acquisitions [2][3] - The funds raised will be allocated to four main areas: R&D for key technologies, global marketing network development, strategic investments and acquisitions, and general operational funding [3][4] Market Trends and ASIC Demand - AI computing demand is shifting from training to inference and fine-tuning, with ASICs expected to see a fivefold increase in capital expenditure by 2027 [2][4] - The demand for ultra-low power small models is surging in edge AI applications, such as AR glasses and robotics, with Chipone focusing on 270M parameter-level ultra-small model applications [2][4] Design-Light Model - Chipone is promoting a "Design-Light" model to reduce operational costs for chip companies by providing IP and design services, addressing the challenges of high operational costs in traditional Fabless models [2][5] AI Development Trends - The AI industry is transitioning from a focus on large models to a combination of large and small models, emphasizing the importance of physical world interaction and understanding [6][10] - The emergence of new applications, such as AR glasses and autonomous driving, is driving the need for specialized AI chips [6][10] Collaboration with Google - Chipone is deeply integrated with Google's open-source ecosystem, supporting projects like Gemma to secure commercial opportunities and strengthen its IP position in video coding and AIGC [2][9] Domestic Market Dynamics - The domestic autonomous driving chip market is expected to see over 50% penetration of domestic solutions within three years, with Chipone addressing differentiated computing needs through a Chiplet model [2][12] ASIC Market Growth - The ASIC market is experiencing significant growth, with major players like Broadcom and Marvell reporting substantial revenue increases, indicating ASICs' critical role in the current AI wave [4][10] Future of AI and AIGC - The future of AI should not solely focus on large models; small models are equally important and can derive capabilities from larger models [10][17] - The growth of edge AI applications will drive demand for efficient, low-power AI chips, positioning Chipone favorably in the AIGC landscape [17] Conclusion - Chipone's strategic initiatives, including its IPO, focus on R&D, and collaboration with major tech players, position it well to capitalize on the growing demand for AI and ASIC technologies in various applications. The emphasis on both edge and cloud AI solutions reflects a comprehensive approach to market opportunities.

Market Overview - A-shares saw all three major indices close higher, with the Shanghai Composite Index rising by 0.25% to 4133.43, the Shenzhen Component Index increasing by 0.78% to 14465.41, and the ChiNext Index up by 1.31% to 3349.53. However, the Sci-Tech Innovation Index fell by 0.98% to 1774.03 [3][4]. Sector Performance - The chemical raw materials sector performed strongly, with stocks such as Jinpu Titanium Industry, Zhongtai Chemical, Baofeng Energy, and Sanfu Co. hitting the daily limit up [5][6]. - Conversely, the semiconductor sector experienced declines, with stocks like Jinhaitong hitting the daily limit down and others like Xinyuan and Canxin falling over 7% [6][7]. Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 2.51 trillion yuan, an increase of 110.5 billion yuan compared to the previous trading day [7]. Capital Flow - Main capital inflows were observed in sectors such as electric power equipment, construction decoration, and basic chemicals, while there were outflows from defense, electronics, and non-ferrous metals sectors [9][11]. - Specific stocks with significant net inflows included Yangguang Energy, China Energy Construction, and Huagong Technology, with net inflows of 4.387 billion yuan, 3.483 billion yuan, and 2.067 billion yuan respectively [10]. - Stocks facing net outflows included Cambrian, Dongshan Precision, and Tianfu Communication, with outflows of 1.468 billion yuan, 1.102 billion yuan, and 992 million yuan respectively [11]. Analyst Insights - Tianfeng Securities expressed optimism regarding investment opportunities arising from changes in power supply systems in the AI era [12]. - Citic Securities noted that short-term uncertainties may still drive an increase in oil shipping rates [13]. - Citic Jinshi highlighted that capital expenditures from cloud vendors continue to be revised upward, with the PCB cycle still on an upward trend [14].

芯原微电子（上海）股份有限公司 对外投资管理制度 （草案） （H 股上市后适用） 二○二六年三月 芯原微电子（上海）股份有限公司 对外投资管理制度（草案） （H 股上市后适用） 第一章 总则 第一条 为规范芯原微电子（上海）股份有限公司（以下简称"公司"）的 对外投资行为，加强公司对外投资管理，防范对外投资风险，保障对外投资安全， 提高对外投资效益，维护公司形象和投资者的利益，依照《中华人民共和国公司 法》（以下简称"《公司法》"）、《科创板上市公司持续监管办法（试行）》、 《上海证券交易所科创板股票上市规则》、《香港联合交易所有限公司证券上市 规则》等法律、法规、规范性文件以及《芯原微电子（上海）股份有限公司章程》 （以下简称"公司章程"）的规定，并结合公司的实际情况制定本制度。 第二条 本制度所称的对外投资是指公司为获取未来收益而将一定数量 的货币资金、股权、以及经评估后的实物或无形资产作价出资，对外进行各种形 式的投资活动。 第三条 按照投资期限的长短，公司对外投资分为短期投资和长期投资。 短期投资主要指公司购入的能随时变现且持有时间不超过 1 年（含 1 年）的 投资，包括各种股票、债券、基金、分红型 ...

芯原微电子（上海）股份有限公司 关联交易管理制度 （草案） （H 股上市后适用） 二○二六年三月 芯原微电子（上海）股份有限公司 关联交易管理制度（草案） （H 股上市后适用） 第一章 总则 第一条 为规范芯原微电子（上海）股份有限公司（以下简称"公司"）的关 联交易行为，保护投资者特别是中小投资者的合法权益，根据《中华人民共和国 公司法》、《科创板上市公司持续监管办法（试行）》、《上海证券交易所科创板股票 上市规则》（以下简称"《科创板上市规则》"）、《上海证券交易所科创板上市公司 自律监管指引第1号——规范运作》、《上海证券交易所上市公司自律监管指引第5 号——交易与关联交易》、《香港联合交易所有限公司证券上市规则》（以下简称 "《香港上市规则》"）、《证券及期货条例》等有关法律、法规、规范性文件以及《芯 原微电子（上海）股份有限公司章程》（以下简称"公司章程"）的规定，并结合公 司的实际情况制定本制度。 本制度中，《科创板上市规则》所定义的"关联人"以及《香港上市规则》所定 义的"关连人士"统称为"关联人"；《科创板上市规则》所定义的"关联交易"和《香 港上市规则》所定义的"关连交易"统称为"关联交易" ...

芯原微电子（上海）股份有限公司 芯原微电子（上海）股份有限公司 董事会战略与 ESG 委员会议事规则（草案） （H 股上市后适用） 第一章 总 则 第一条 为适应芯原微电子（上海）股份有限公司（以下简称"公司"）战略 发展需要，增强公司核心竞争力，确定公司发展规划，健全投资决策程序，提升 公司环境、社会及公司治理（ESG）管理运作水平，加强决策科学性，提高重大 决策的效率和决策水平，完善公司治理结构，增强公司核心竞争力，根据《中华 人民共和国公司法》、《上市公司治理准则》、《科创板上市公司持续监管办法 （试行）》、《董事会专门委员会实施细则（1）—董事会战略委员会实施细则 指引》、《香港联合交易所有限公司证券上市规则》等有关法律法规、规范性文 件以及《芯原微电子（上海）股份有限公司公司章程》（以下简称"公司章程"）、 《芯原微电子（上海）股份有限公司董事会议事规则》的规定，并结合公司的实 际情况，公司设立董事会战略与ESG委员会，并制定本议事规则。 第二条 战略与ESG委员会是董事会下设的专门工作机构，主要工作是对公 司长期发展战略和重大投资决策进行研究并向公司董事会提出建议、方案。 第二章 人员组成 第三条 ...