从行业分布看，电子与医药生物等行业受到公募机构的青睐。在电子行业的定增个股中，寒武纪、盛美 上海、芯原股份等10余只个股获得公募机构认购，总额达89.86亿元；医药生物行业则有百利天恒、迪 哲医药等6只个股获青睐，公募机构认购总额为45.18亿元。此外，电力设备、基础化工和有色金属行业 的公募机构认购总额也均超10亿元。 业内人士认为，公募机构积极参与上市公司定增，不仅反映其对市场机会的敏锐捕捉，也折射出定增市 场生态的优化。一方面，政策利好与产业升级推动优质项目供给增加；另一方面，公募机构的专业研究 能力与资金规模优势，使其在定增市场中占据主动。随着A股市场国际化与机构专业化程度提升，定增 作为重要的再融资工具，其长期价值有望进一步凸显。 今年以来，公募机构参与上市公司定向增发(定增)的热情持续攀升。公募排排网数据显示，截至10月22 日(按定增上市日统计)，年内共有37家公募机构参与74家A股上市公司的定增项目，覆盖电子、医药等 18个行业，认购总额达302.92亿元，较去年同期的235.73亿元增长28.50%。按10月22日收盘价计算，目 前公募机构参与定增的浮动盈利金额已达108.45亿元，展现出可 ...

Group 1 - The company, Chip Origin Co., announced a change in the designated representatives for the ongoing supervision of its stock issuance to specific targets, appointing Mr. Xu Xiaosong and Mr. Wu Kaicheng as the new representatives [1] - The ongoing supervision period will last until the obligations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange are fulfilled [1]

周三（10月22日），大盘全天缩量震荡，三大指数集体回调，沪指微跌0.07%顽强守住3900点关口。个 股涨少跌多，量能成为制约指数关键，A股成交额不足1.7万亿元，创8月6日以来新低。 盘面上，攻守迅速转换，资金再度涌向红利资产，农业银行再涨2.66%，喜提14连涨，连续第四日刷新 历史新高。两百亿体量银行ETF（512800）日线强势10连阳，近10日巨量吸金近60亿元。 科技股普跌背景下，AI主线仍有异动，"AI双子星"——创业板人工智能ETF华宝（159363）、科创人工 智能ETF华宝（589520）先后于早盘、午后冲高，盘中最高涨幅均超1%。 | 序号 代码 类型 名称 | 现价 > 涨跌幅 ▼ > 成交额 | | --- | --- | | 1 512800 行 银行ETF | 0.829 c 0.85% -0.02% -0.02% 11.89亿 | | 2 562080 策 300现金流ETF | 1.166 c 0.43% 0.09% 4941.57万 | | 3 589520 主 科创人工智能ETF华宝 | 0.604 c 0.17% -0.08% 3285.24万 | | 4 56206 ...

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。 芯原微电子（上海）股份有限公司（以下简称"公司"）于近日收到国泰海通 证券股份有限公司（以下简称"国泰海通"）出具的《关于更换芯原微电子（上海） 股份有限公司持续督导保荐代表人的函》。国泰海通作为公司 2023 年度向特定 对象发行 A 股股票（以下简称"向特定对象发行股票"）的保荐机构，原指定 保荐代表人陈启明先生、邬凯丞先生履行持续督导职责，现陈启明先生因工作安 排原因，不再负责对公司的持续督导工作。为保证持续督导工作的有序进行，国 泰海通委派许小松先生（简历附后）接替陈启明先生继续履行持续督导工作。 本次变更后，公司向特定对象发行股票持续督导的保荐代表人为许小松先生 和邬凯丞先生，持续督导期至中国证券监督管理委员会和上海证券交易所规定的 持续督导义务结束为止。 证券代码：688521 证券简称：芯原股份 公告编号：2025-066 关于更换保荐代表人的公告 芯原微电子（上海）股份有限公司 2025 年 10 月 23 日 附件：保荐代表人许小松简历 许小松，现任职于国泰 ...

Core Viewpoint - The company has announced a change in its continuous supervision sponsor representative, with a new representative taking over due to the previous representative's work arrangements [1] Group 1 - The company received a letter from Guotai Junan regarding the replacement of the continuous supervision sponsor representative [1] - Guotai Junan is the sponsor for the company's A-share issuance to specific investors in 2023 [1] - The previous sponsor representative, Chen Qiming, will no longer be responsible for the duties, and Xu Xiaosong will take over [1] Group 2 - The new continuous supervision sponsor representatives will be Xu Xiaosong and Wu Kaicheng [1] - The supervision period will continue until the defined obligations are fulfilled [1]

10月22日，科创芯片ETF南方（588890）开盘跌0.11%，报2.682元。科创芯片ETF南方（588890）重仓 股方面，中芯国际开盘跌1.39%，海光信息跌1.33%，寒武纪跌2.04%，澜起科技跌0.94%，中微公司跌 0.62%，芯原股份跌0.59%，沪硅产业跌1.38%，恒玄科技跌1.11%，思特威跌1.26%，华海清科跌 0.70%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 来源：新浪基金∞工作室 科创芯片ETF南方（588890）业绩比较基准为上证科创板芯片指数收益率，管理人为南方基金管理股份 有限公司，基金经理为李佳亮，成立（2024-04-15）以来回报为168.21%，近一个月回报为5.87%。 ...

芯原股份今年以来股价涨227.88%，近5个交易日涨0.63%，近20日跌4.80%，近60日涨83.82%。 10月22日，芯原股份盘中上涨2.02%，截至13:25，报171.91元/股，成交11.79亿元，换手率1.40%，总市 值903.75亿元。 资金流向方面，主力资金净流出4559.97万元，特大单买入1.16亿元，占比9.82%，卖出1.86亿元，占比 15.76%；大单买入3.45亿元，占比29.28%，卖出3.21亿元，占比27.21%。 截至6月30日，芯原股份股东户数2.54万，较上期减少3.58%；人均流通股19656股，较上期增加3.71%。 2025年1月-6月，芯原股份实现营业收入9.74亿元，同比增长4.49%；归母净利润-3.20亿元，同比减少 12.30%。 机构持仓方面，截止2025年6月30日，芯原股份十大流通股东中，华夏上证科创板50成份ETF （588000）位居第六大流通股东，持股1955.60万股，相比上期减少23.27万股。易方达上证科创板 50ETF（588080）位居第八大流通股东，持股1180.63万股，相比上期减少228.49万股。诺安成长混合A （3 ...

Summary of VeriSilicon's Conference Call Company Overview - **Company**: VeriSilicon (688521.SS) - **Industry**: Semiconductor and IP Solutions Key Points Acquisition Announcements - VeriSilicon announced an agreement to acquire Pixelworks Semiconductor Technology (Shanghai) Co., Ltd. for Rmb929 million (US$130 million) in cash, acquiring 97.89% of the subsidiary's shares, with plans to hold 100% post-transaction closure expected by the end of 2025 [1][2][3] - This acquisition follows a proposed acquisition of Nuclei, a RISC-V CPU IP development company [1] Strategic Synergies - The integration of Pixelworks' image post-processing capabilities is expected to enhance VeriSilicon's total image solutions for smartphone clients and expand its reach into AI ASIC projects for devices such as AI glasses, AI TVs, and AI projectors [3] - Management anticipates that the combined technologies will allow VeriSilicon to offer GPU IP solutions with improved performance and lower power consumption, targeting data center and gaming clients [3] Industry Trends - The semiconductor industry in China is experiencing a consolidation trend, with several acquisitions announced since May 2025, including VeriSilicon's acquisition of Nuclei and others by Primarius and Sai Micro [4] - The average deal size for recent semiconductor M&A transactions is US$77 million, indicating a positive outlook for the semiconductor ecosystem in China [4] Financial Projections - Revenue projections for VeriSilicon show a significant increase from Rmb2,338 million in 2023 to Rmb5,269 million in 2026, representing a 48% year-over-year growth [10] - The company expects to achieve a net income of Rmb1,338 million by 2026, with an EPS of Rmb2.54 [10][14] Risks and Challenges - Potential risks include slower-than-expected technology development, higher costs for talent acquisition and retention, and weaker customer spending on IP and new chipset projects [12] Investment Rating - Goldman Sachs maintains a "Buy" rating on VeriSilicon with a 12-month target price of Rmb284, indicating an upside potential of 68.5% from the current price of Rmb168.50 [11][14] Financial Metrics - The company’s gross margin is projected to stabilize around 44.2% in 2026, while operating margins are expected to improve significantly from -2.4% in 2025 to 20.2% in 2027 [10] - R&D expenses are projected to be 40% of revenue in 2025, reflecting a strong commitment to innovation [10] Conclusion VeriSilicon is strategically positioning itself for growth through acquisitions and enhanced capabilities in the semiconductor industry, with optimistic financial projections and a solid investment rating from Goldman Sachs. However, the company must navigate potential risks associated with technology development and market conditions.

Core Viewpoint - The A-share market has seen significant gains in semiconductor stocks, with several companies reaching their daily price limits, indicating strong investor interest and market momentum [1] Group 1: Stock Performance - Yuanjie Technology hit the 20% daily limit increase [1] - Taiji Industry and Wentai Technology both reached a 10% daily limit increase [1] - Zhongwei Semiconductor rose over 9% [1] - Canxin Technology increased over 8% [1] - Companies such as Diaomicro, Jucheng Technology, and others saw gains exceeding 7% [1] - A number of other semiconductor stocks, including Hanwha Technology and Chipone Technology, experienced increases of over 5% [1]

Core Insights - On October 21, Chip Origin Co., Ltd. saw a stock price increase of 5.06%, reaching 168.48 CNY per share, with a trading volume of 1.657 billion CNY and a turnover rate of 2.02%, resulting in a total market capitalization of 88.572 billion CNY [1] Company Overview - Chip Origin Microelectronics (Shanghai) Co., Ltd. was established on August 21, 2001, and went public on August 18, 2020. The company is located in the China (Shanghai) Pilot Free Trade Zone [1] - The company's main business involves providing platform-based, comprehensive, and one-stop chip customization services and semiconductor IP licensing services, relying on its proprietary semiconductor IP [1] Revenue Composition - The revenue breakdown of the company's main business is as follows: - Chip volume business revenue: 41.85% - Intellectual property licensing fee revenue: 28.81% - Chip design business revenue: 23.83% - Franchise fee revenue: 5.21% - Other (supplementary): 0.29% [1] Fund Holdings - From the perspective of major fund holdings, Huatai Baoxing Fund has one fund heavily invested in Chip Origin Co., Ltd. The Huatai Baoxing Industrial Upgrade Mixed Initiation A (021792) held 7,000 shares in the second quarter, unchanged from the previous period, accounting for 6.02% of the fund's net value, making it the third-largest holding [2] - The fund was established on September 24, 2024, with a latest scale of 10.7543 million CNY. Year-to-date returns are 49.32%, ranking 677 out of 8162 in its category; the one-year return is 48.03%, ranking 758 out of 8024; and since inception, the return is 48.2% [2] - The fund manager, Shang Shuo Hui, has a cumulative tenure of 8 years and 214 days, with total assets under management of 808 million CNY. The best fund return during his tenure is 136.2%, while the worst is -38.16% [2]