证券代码：688525 证券简称：佰维存储 公告编号：2025-038 深圳佰维存储科技股份有限公司 关于签署募集资金专户存储监管协议之补充协议的 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。 一、募集资金基本情况 根据中国证券监督管理委员会于 2025 年 3 月 10 日出具的《关于同意深圳 佰维存储科技股份有限公司向特定对象发行股票注册的批复》（证监许可〔2025〕 447 号），同意深圳佰维存储科技股份有限公司（以下简称"公司"）2023 年 度向特定对象发行 A 股股票（以下简称"本次发行"或"本次向特定对象发行"）。 公司本次向特定对象发行人民币普通股 30,025,284 股，发行价格为每股人民币 63.28 元，共募集资金人民币 1,899,999,971.52 元，扣除不含税发行费用人民币 29,314,551.81 元，实际募集资金净额为人民币 1,870,685,419.71 元。上述资金 到位情况已经天健会计师事务所（特殊普通合伙）审验，并出具了天健验〔2025〕 3-16 号《验资报告》。 ...

Core Viewpoint - Shenzhen Biwin Storage Technology Co., Ltd. is currently involved in two lawsuits regarding patent infringement, with the company as the first defendant. The company believes that the lawsuits will not significantly impact its operations or financial status due to adherence to the FRAND principle and the impending expiration of the involved patents [1][2][6]. Summary by Sections Lawsuit Overview - The company received a summons from the Nanjing Intermediate People's Court on June 24, 2025, regarding two lawsuits filed by Yuan Yuzhi Technology (Shenzhen) Co., Ltd., a subsidiary of Jiangbolong Electronics [2][3]. - The lawsuits involve claims for stopping the manufacture and sale of eMMC products and the destruction of inventory, with a total claim amount of approximately RMB 608,425 for each case [3][4]. Details of the Cases - **Case One**: - Case Number: (2025) Su 01 Minchu 1539 - Involves a patent related to methods for booting host devices from MMC/SD devices, originally filed by Nokia and expiring on November 27, 2026 [3][4]. - **Case Two**: - Case Number: (2025) Su 01 Minchu 1541 - Involves a similar patent with the same expiration date and original applicant [4][5]. Company’s Position and Impact Assessment - The company has assessed that the lawsuits will not have a major adverse effect on its production, operations, or financial condition [1][2][6]. - The company has a strong patent portfolio with 404 patents, including 150 invention patents, which supports its technological leadership [6]. - The company maintains that it has acted in good faith during licensing negotiations and has not committed any significant wrongdoing [7][8]. - The company plans to file a request for invalidation of the involved patents with the National Intellectual Property Administration [8]. Future Actions - The company will actively defend its rights and interests in the lawsuits and will continue to disclose information regarding the progress of the cases in accordance with relevant regulations [2][9].

Core Viewpoint - Bawei Storage has received a lawsuit regarding patent infringement from Yuan Yuzhi Technology (Shenzhen) Co., Ltd., which claims that Bawei Storage and Jiangsu Jinzhen Mobile Chain Trading Co., Ltd. have infringed on two of its invention patents, seeking a total compensation of RMB 1,216,850 [4][5]. Summary by Sections Lawsuit Overview - The lawsuit involves two patents with numbers ZL200680051271.3 and ZL201110159902.6, with Yuan Yuzhi demanding Bawei Storage to cease manufacturing and selling related products [5]. Company Response - Bawei Storage emphasizes its commitment to fair and reasonable negotiations and believes the lawsuit lacks legal support. The company also notes that the patents in question will expire on November 27, 2026, after which the claims will no longer be valid [6]. Impact on Company - The company asserts that the lawsuit will not significantly affect its operations or financial status, and it expects minimal impact on current and future profits. Bawei Storage will continue to supply its customers without interruption [7]. Future Outlook - Bawei Storage plans to contest the claims regarding the patents and will file for invalidation of the patents with the National Intellectual Property Administration. The company remains focused on innovation and protecting its intellectual property rights [8]. Company Confidence - The board of Bawei Storage expresses confidence in handling the lawsuit and emphasizes its commitment to core business operations and providing high-quality products and services to customers [9].

证券代码：688525 证券简称：佰维存储 公告编号：2025-037 深圳佰维存储科技股份有限公司 关于公司收到《民事起诉状》的自愿性披露公告 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。 重要内容提示： 案件所处的诉讼阶段：法院已立案受理，尚未开庭审理。 上市公司所处当事人地位：深圳佰维存储科技股份有限公司（以下简称"公 司"）为被告一。 涉案金额（原告诉讼请求）合计：每个案件律师费等合理开支暂计人民币 608,425 元及诉讼费用，两案件合计 1,216,850 元。 对上市公司的影响：考虑到公司遵守 FRAND 原则（公平、合理、无歧视 原则）且没有明显过错及涉案专利即将保护期届满等因素，本案预计不会影响公 司向客户持续供货能力，涉案金额较低，预计该诉讼事项对公司本期及期后利润 影响较小，最终实际影响以诉讼结果为准。 公司经初步评估认为，此次诉讼不会对公司生产经营和财务状况造成重大 不利影响。为防止信息被误读或引发不当舆论，维护投资者知情权，公司秉承诚 信、审慎原则，特此对上述诉讼事项及时进行自愿性披露。 公司密 ...

证券代码：688525 证券简称：佰维存储 公告编号：2025-036 深圳佰维存储科技股份有限公司 关于变更注册资本并完成工商变更登记的公告 名称：深圳佰维存储科技股份有限公司 统一社会信用代码：91440300561500443T 类型：股份有限公司（上市、自然人投资或控股） 法定代表人：孙成思 注册资本：46,126.5626 万元人民币 成立日期：2010-9-6 住所：深圳市南山区桃源街道平山社区留仙大道 1213 号众冠红花岭工业南 区 2 区 4、8 栋 1 层-3 层及 4 栋 4 层 经营范围：一般经营项目是：经营进出口业务（法律、行政法规、国务院决 定禁止的项目除外，限制的项目须取得许可后方可经营）。许可经营项目是：大 规模集成电路、嵌入式存储、移动存储、其他数码电子产品的研发、测试、生产、 销售。 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。 深圳佰维存储科技股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日、2025 年 5 月 22 日分别召开第三届董事会第二十七次会议和 202 ...

Group 1 - The China Securities Regulatory Commission (CSRC) Chairman announced plans to enhance the STAR Market's demonstration effect, including the establishment of a STAR Market Growth Tier and the reintroduction of the fifth listing standard for unprofitable companies [1] - The STAR Market Growth ETF (588110) saw a strong increase of 1.20% as of June 18, 2025, with notable gains in constituent stocks such as Shengyi Electronics (688183) up 16.63% and Tiande Yu (688252) up 9.28% [1] - The STAR Market Growth ETF has experienced a significant increase in trading volume, with a turnover rate of 4.74% and a daily average transaction of 15.45 million yuan over the past week [1] Group 2 - The STAR Market Growth ETF has achieved a net value increase of 38.29% over the past year, ranking 185 out of 2854 index equity funds, placing it in the top 6.48% [2] - The ETF's highest monthly return since inception was 25.02%, with an average monthly return of 7.25% during the months it increased [2] Group 3 - The management fee for the STAR Market Growth ETF is 0.50%, and the custody fee is 0.10%, making it one of the lowest in its category [3] - The STAR Market Growth Index consists of 50 high-growth companies selected based on revenue and net profit growth rates, reflecting the overall performance of high-growth stocks on the STAR Market [3] - The top ten weighted stocks in the STAR Market Growth Index account for 53.67% of the index, including companies like Haiguang Information (688041) and Hengen Technology (688608) [3] Group 4 - The introduction of new indices in the STAR Market is positively impacting domestic index investment development by enriching the investment target pool and providing more diverse underlying assets for ETFs [4] - The emergence of thematic and industry indices is guiding investors to accurately allocate resources in emerging industries, enhancing the capital market's effectiveness in serving new productive forces [4]

Core Viewpoint - The article discusses the 16th Investor Relations Management Forum held in Yangzhou, where the winners of the Tianma Award for outstanding investor relations management were announced, highlighting the importance of effective communication between listed companies and their investors [1][2]. Group 1: Tianma Award Overview - The Tianma Award, organized by the Securities Times, is one of the earliest evaluation activities focused on investor relations management in China's capital market [2]. - The award aims to enhance the investor relations management level of listed companies and recognize those that excel in this field [2]. Group 2: Award Categories - Six categories of awards were presented: 1. Investor Relations Management Tianma Award 2. Outstanding Secretary of the Board Award 3. Excellent Team Award 4. Shareholder Return Award 5. Innovative Practice Award 6. Hong Kong Stock Market Investor Relations Management Tianma Award [2]. Group 3: Award Winners - A list of companies that received awards includes notable names such as BYD (002594), Mindray Medical (300760), and Yunnan Copper (000878) among others [3][4][5][6][8][9]. - The awards recognize companies across various sectors, indicating a broad commitment to improving investor relations [3][4][5][6][8][9]. Group 4: Notable Individuals - The article also highlights the names of secretaries of the board from awarded companies, showcasing the individuals who play a crucial role in investor relations [8][10]. - This recognition emphasizes the importance of leadership in fostering effective communication with investors [8][10]. Group 5: Hong Kong Stock Market Awards - The article lists the winners of the Hong Kong Stock Market Investor Relations Management Tianma Award, including companies like China Merchants Industry Holdings (1919.HK) and Kuaishou Technology (1024.HK) [19]. - This segment illustrates the growing recognition of investor relations practices in the Hong Kong market [19].

Summary of the Conference Call Industry Overview - The photovoltaic (PV) industry is experiencing severe overcapacity, with nominal capacities in various segments approximately double the expected module production of 650-700 GW for 2025, while nominal capacities across the supply chain exceed 1,200 GW [2][4] - The supply of auxiliary materials such as encapsulants and glass is projected to be between 800-900 GW annually, with glass supply being slightly better due to ongoing capacity construction [2][4] Key Points on Silicon Material Market - The end of the 430 and 531 rush has led to a decline in module production, causing silicon material prices to drop significantly. The price of n-type granular silicon has fallen to 34,500 CNY/ton (including tax), with the non-tax average between 30,000-33,000 CNY/ton [2][5] - Most companies are currently operating at a loss, with only a few able to cover cash costs. As a result, the silicon material industry plans to reduce monthly production from approximately 100,000 tons to 83,000 tons, resulting in an industry operating rate of only about 30% [2][5] Inventory and Production Outlook - Silicon material inventory has been high at around 500,000 tons but has recently decreased to about 400,000 tons due to increased module production. If production remains at 100,000 tons/month, inventory could normalize by mid-2026 [6] - If production drops to 85,000 tons/month starting in July, normalization could be achieved by the end of 2025 [6] Cost Reduction Strategies - In the context of profit pressure in the PV industry, reducing silver paste costs is critical. Silver paste accounts for 12% of module costs and 39% of battery costs, second only to glass and aluminum frames [2][7] - Copper substitution is a primary method for cost reduction, with technologies including silver-coated copper, high-copper paste, pure copper paste, and electroplated copper [2][7] Copper Diffusion and Efficiency - Copper has a higher diffusion coefficient than silver in silicon wafers, which can negatively impact battery efficiency. To mitigate this, copper powder must be coated, and a silver seed layer is placed between the copper paste and silicon wafer to prevent direct contact [8] - This approach reduces contact resistance and promotes copper paste sintering, with current market solutions primarily using a silver seed layer in conjunction with copper paste [8] Market Solutions for Copper Paste - Two main copper paste solutions are being promoted: high-copper paste developed by Dike and pure copper paste developed by Polymeric. Dike's high-copper paste uses silver as a coating material and is priced at 4,000-5,000 CNY/kg, offering a cost saving of approximately 0.5 cents per watt [9][10] - Polymeric's pure copper paste, which uses non-silver materials for coating, is priced at 2,500-3,000 CNY/kg and also provides similar cost savings but requires specialized sintering furnaces [10] Market Adoption and Future Prospects - Both high-copper and pure copper paste solutions are being actively promoted in the market. High-copper paste is progressing rapidly due to its reliability in preventing diffusion risks, with expected shipments reaching several hundred tons by 2026 [11] - The higher processing barriers for high-copper paste compared to traditional products may lead to significant performance elasticity, while the successful implementation of pure copper paste could yield even greater cost savings [11]

Group 1 - The AI mobile concept sector increased by 3.02%, ranking 10th among concept sectors, with 24 stocks rising, including Shenghong Technology, Plutec, and Nanchip Technology, which rose by 16.30%, 8.41%, and 6.80% respectively [1] - The AI mobile concept sector saw a net inflow of 279 million yuan from main funds, with 15 stocks receiving net inflows, and 5 stocks exceeding 30 million yuan in net inflow, led by iFlytek with a net inflow of 112 million yuan [2][3] - The top stocks in terms of net inflow ratio included Sixuan New Materials, Bawei Storage, and Plutec, with net inflow ratios of 8.74%, 8.46%, and 7.86% respectively [3][4] Group 2 - The top stocks in the AI mobile concept sector based on today's performance included iFlytek, ZTE, Bawei Storage, and Plutec, with respective daily price changes of 1.29%, 1.87%, 4.26%, and 8.41% [3][4] - The trading volume and turnover rates for key stocks in the AI mobile concept sector were highlighted, with iFlytek having a turnover rate of 1.38% and a main fund flow of 112.42 million yuan [3][4] - The overall market performance of the AI mobile concept sector reflects a positive trend, indicating potential growth opportunities within the sector [1][2]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][28][31] Core Views - The company is experiencing a short-term revenue decline due to storage price impacts, with a revenue of 1Q25 at 1.543 billion yuan, down 10.62% YoY and 7.58% QoQ. However, a gradual recovery in storage prices is expected in 2Q25, which may lead to performance improvement [1][20][28] - Embedded storage revenue for 2024 reached 4.241 billion yuan, a significant increase of 151.68% YoY, with products entering major client supply chains. AI-related products are also seeing rapid revenue growth, particularly in AI glasses, which are expected to grow over 500% YoY in 2025 [2][28] - The company is making steady progress in wafer-level advanced packaging, which is anticipated to drive long-term growth. The enterprise-level and automotive-grade storage segments are also expanding successfully [3][28] Summary by Sections Financial Performance - 1Q25 revenue was 1.543 billion yuan, with a net profit of -216 million yuan, reflecting a significant decline in profitability due to increased R&D expenses and inventory write-downs [1][28] - The company forecasts a gradual recovery in revenue, with expected net profits of 178 million yuan, 200 million yuan, and 382 million yuan for 2025, 2026, and 2027 respectively [28][29] Revenue Breakdown - Embedded storage is projected to generate revenues of 5.439 billion yuan, 6.459 billion yuan, and 7.363 billion yuan from 2025 to 2027 [28] - PC storage revenue is expected to be 2.206 billion yuan, 2.283 billion yuan, and 2.363 billion yuan for the same period [28] - Automotive-grade storage revenue is anticipated to grow to 155 million yuan, 294 million yuan, and 418 million yuan from 2025 to 2027 [28] Market Trends - The global storage market is experiencing a cyclical downturn, with NAND Flash prices expected to stabilize in 2Q25 after a decline in 1Q25. The company is well-positioned to benefit from this recovery [20][24] - The demand for AI-related storage products is increasing, particularly in the context of AI glasses and high-performance PC storage solutions [2][3][28]