Earnings revision: We revise down our VeriSilicon earnings by 8% / 12% / 14% / 14% / 12% in 2026E-2030E to reflect a lower revenues contribution from higher margin semi design services and IP solutions considering the likely longer time needed to see an acceleration of AI edge devices. That said, we view robust cloud contribution positively and remain constructive on the strong growth ahead driven by Gen-AI demand. We revise down GM by 0.3ppts~1.9ppts in 2026E-2030E on product mix changes. Allen Chang 30 De ...

12月31日，芯原股份大宗交易成交3万股，成交额410.91万元，占当日总成交额的0.17%，成交价136.97 元，较市场收盘价136.97元持平。 | 交易日期 | 证券简称 | 证券代码 ---- | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | | 025-12-31 | 芯原股份 | 688521 | 136.97 410.91 | 图告景观劈公有限 | 公寓经营服的有限 | KO | ...

证券日报网12月30日讯，芯原股份在接受调研者提问时表示，截至2025年12月25日，公司第四季度新签 订单24.94亿元，其中AI算力相关订单占比超84%，包括云侧和端侧AI相关项目。 ...

证券日报网12月30日讯，芯原股份在接受调研者提问时表示，截至今年三季度末，公司在手订单32.86 亿元，已连续八个季度保持高位。 ...

Core Viewpoint - The company plans to acquire control of ZD Semiconductor through its subsidiary TianSuiXinYuan, which will enhance its competitive position in the display post-processing IP sector by combining its image pre-processing IP with ZD Semiconductor's image post-processing IP [1] Group 1 - The acquisition aims to provide a complete image processing solution for mobile clients [1] - The integration of technologies is expected to strengthen the company's offerings in the display post-processing IP market [1]

证券日报网12月30日讯，芯原股份在接受调研者提问时表示，目前公司已帮助客户设计了基于Chiplet架 构的Chromebook芯片，采用了SiP(System in Package)先进封装技术，将高性能SoC和多颗IPM内存合 封。 ...

证券日报网12月30日讯，芯原股份在接受调研者提问时表示，未来随着公司芯片设计业务订单增加，预 计未来公司会将更多研发资源投入客户项目，研发投入占营业收入比重将有所下降。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 一、公司2022年限制性股票激励计划已履行的决策程序和信息披露情况 1、2022年1月4日，公司召开第一届董事会第二十八次会议，审议通过了《关于审议〈芯原微电子（上 海）股份有限公司 2022 年限制性股票激励计划（草案）〉及其摘要的议案》《关于审议〈芯原微电子 （上海）股份有限公司 2022 年限制性股票激励计划实施考核管理办法〉的议案》《关于提请股东大会 授权董事会办理2022年限制性股票激励计划相关事宜的议案》等相关议案。公司独立董事就激励计划相 关议案发表了独立意见。 同日，公司召开第一届监事会第十八次会议，审议通过了《关于审议〈芯原微电子（上海）股份有限公 司 2022 年限制性股票激励计划（草案）〉及其摘要的议案》《关于审议〈芯原微电子（上海）股份有 限公司 2022 年限制性股票激励计划实施考核管理办法〉的议案》《关于审议〈芯原微电子（上海）股 份有限公司2022年限制性股票激励计划首次授予激励对象名单〉的议案》，公司监事会对2022年限制性 股票激励计划（以下简称"2022年激励计划"）的相关事项进行核实并出具了相关核查意见。 2、2022年1 ...

Group 1: Policy and Industry Dynamics - The Shanghai Stock Exchange released guidelines to expand the fifth listing standard for commercial rocket companies on the Sci-Tech Innovation Board, aiming to support the innovation and development of the commercial aerospace sector [1][17] - The guidelines consist of 14 articles detailing requirements related to business scope, "hard technology" attributes, and standards for commercial rocket enterprises, providing targeted support for high-quality companies without significant revenue [1][17] - Several rocket companies have recently submitted IPO counseling records, indicating a growing interest in capital market participation [1][17] Group 2: Market Overview and Trends - The commercial rocket industry is at a critical stage of large-scale commercialization, necessitating further support from the capital market [2][18] - The Sci-Tech Innovation Board focuses on hard technology, including sectors like electronic chips, emerging software, and new information technology services, reflecting the rise of advanced manufacturing in China [2][18] - Recent trends show a rebound in the Sci-Tech Innovation Board, particularly in sectors such as chips, information technology, and new materials [3][19] Group 3: Sector Performance - The top five industries on the Sci-Tech Innovation Board are electronics, biomedicine, power equipment, computers, and machinery, collectively accounting for 88.2% of the board's market capitalization [4][20] - The semiconductor sector has seen significant interest, with a notable rebound in chip stocks driven by demand for AI computing infrastructure [21] - The high-end equipment manufacturing sector is experiencing growth, with a 15.4% year-on-year increase in engineering machinery import and export trade, reflecting a recovery in overseas demand [22] Group 4: Investment Opportunities - The AI computing demand is expected to surge, with continued capital investment from cloud vendors driving high demand for advanced chips [21] - The domestic engineering machinery update cycle is starting, supported by favorable policies in real estate and infrastructure [22] - The pharmaceutical sector remains active, with multiple innovative drugs and medical devices receiving approvals, indicating a robust pipeline for growth [23]

Group 1 - The core viewpoint of the news highlights the strong performance of the China Securities Artificial Intelligence Theme Index, which rose by 1.18%, with notable gains in constituent stocks such as Cambricon (up 5.34%) and Chipone (up 5.25%) [1] - The AI Artificial Intelligence ETF also saw an increase of 1.33%, with the latest price reported at 2.2 yuan [1] - The robotics sector experienced a surge, potentially linked to rumors about the Trump administration considering an executive order on robots for 2026 and Tesla's Optimus project gaining traction in North America [1] Group 2 - Bank of China Securities noted that Tesla's FSD v14 upgrade enhances the recognition capabilities of emergency vehicles, road obstacles, and human gestures, marking a significant advancement in smart driving technology [2] - Samsung plans to apply its self-developed architecture to its GPU by 2027, aiming to create a complete ecosystem for edge AI products, including smart glasses and automotive SoCs [2] - The AI Artificial Intelligence ETF closely tracks the China Securities Artificial Intelligence Theme Index, which includes 50 listed companies involved in providing resources, technology, and application support for artificial intelligence [2] Group 3 - As of November 28, 2025, the top ten weighted stocks in the China Securities Artificial Intelligence Theme Index accounted for 63.92% of the index, including companies like Zhongji Xuchuang and Hikvision [3] - The AI Artificial Intelligence ETF has several off-market connections, including various classes of the Ping An China Securities Artificial Intelligence Theme ETF [3]