思瑞浦微电子科技（苏州）股份有限公司发行 可转换公司债券及支付现金购买资产并募集配 套资金向特定对象发行股票实施情况 暨新增股份上市公告书（摘要） 独立财务顾问（主承销商） （深圳市前海深港合作区南山街道桂湾五路 128 号前海深港基金小镇 B7 栋 401） 签署日期：二〇二五年八月 上市公司声明 本部分所述词语或简称与本公告书"释义"所述词语或简称具有相同含义。 1、本公司及全体董事、监事、高级管理人员保证本公告书内容的真实、准 确、完整，并对其虚假记载、误导性陈述或者重大遗漏承担法律责任。 2、本公司负责人和主管会计工作的负责人、会计机构负责人保证本公告书 中所引用的相关数据真实、准确、完整。 3、本次交易完成后，本公司经营与收益的变化，由本公司自行负责；由此 变化所引致的投资风险，由投资者自行负责。投资者在评价本次交易时，除本公 告书内容以及与其同时披露的相关文件外，还应认真考虑本次交易的其他全部信 息披露文件。投资者若对本公告书存在任何疑问，应咨询自己的股票经纪人、律 师、专业会计师或其他专业顾问。 4、本公告书所述事项并不代表中国证监会、上交所及其他监管部门对本次 交易相关事项的实质判断。审批机关 ...

| 证券代码：688536 | 证券简称：思瑞浦 | 公告编号：2025-045 | | --- | --- | --- | | 转债代码：118500 | 转债简称：思瑞定转 | | 思瑞浦微电子科技（苏州）股份有限公司 发行可转换公司债券及支付现金购买资产 并募集配套资金向特定对象发行股票发行结果暨股 本变动的公告 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。 重要内容提示： 发行数量和价格： 股票种类：人民币普通股（A 股） 发行股票数量：3,047,535 股 发行股票价格：125.80 元/股 预计上市时间 本次发行股份募集配套资金的新增股份已于 2025 年 8 月 5 日在中国证 券登记结算有限责任公司上海分公司办理完成登记手续。 资产过户情况 本次发行不涉及资产过户情况，发行对象均以现金认购。 如无特别说明，本公告中涉及有关单位及术语的简称与上市公司同日在上海 证券交易所网站（http://www.sse.com.cn）披露的《思瑞浦微电子科技（苏州） 股份有限公司发行可转换公司债券及支付现金购买资产并募 ...

特此公告。 中泰证券（上海）资产管理有限公司 风险提示： 基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资产，但不保证基金一定盈利，也不保证 最低收益。投资有风险，基金的过往业绩并不预示其未来表现，基金管理人管理的各只基金的业绩不构 成对基金管理人管理的其他基金业绩表现的保证。投资者投资基金时应认真阅读相关基金的基金合同、 招募说明书等法律文件。基金管理人提醒投资者基金投资的"买者自负"原则，请投资者根据自身的风险 承受能力选择适合自己的基金产品。 中泰证券（上海）资产管理有限公司(以下简称"本公司")旗下部分基金参与了思瑞浦微电子科技（苏 州）股份有限公司（股票简称：思瑞浦，股票代码：688536）非公开发行股票的认购。根据中国证监会 《关于基金投资非公开发行股票等流通受限证券有关问题的通知》等有关规定,本公司现将旗下部分基 金参与上述非公开发行股票认购的相关情况披露如下： ■ 注：基金资产净值、账面价值为2025年8月1日数据。 2025年8月5日 ...

通过天眼查大数据分析，思瑞浦微电子科技(苏州)股份有限公司共对外投资了15家企业，参与招投标项 目23次，知识产权方面有商标信息30条，专利信息263条，此外企业还拥有行政许可11个。 思瑞浦最新一期业绩显示，截至2025一季报，公司营业总收入4.22亿元、同比增长110.88%，归属净利 润1556.30万元，同比增长131.65%，扣非净利润174.47万元，同比增长102.37%，流动比率8.426、速动 比率7.741、资产负债率13.88%。 天眼查商业履历信息显示，思瑞浦微电子科技(苏州)股份有限公司，成立于2012年，位于苏州市，是一 家以从事软件和信息技术服务业为主的企业。企业注册资本13260.1444万人民币，实缴资本4385.7541万 人民币。公司法定代表人为吴建刚。 金融界消息 截至2025年8月5日收盘，思瑞浦（688536）报收于144.86元，下跌3.28%，换手率2.46%， 成交量3.26万手，成交金额4.72亿元。 资金流向方面，今日主力资金净流出3303.03万元，占比成交额6.99%。其中，超大单净流出3747.19万 元、占成交额7.93%，大单净流入444.16万 ...

Summary of the Conference Call for 思瑞浦 Industry Overview - The global analog IC market is approximately $80 billion, with the Chinese market accounting for nearly half of this total. However, the domestic localization rate remains low, with communication at 20%-25%, industrial at 10%-15%, and automotive at only 5%. This indicates significant potential for domestic substitution, especially in the electric vehicle sector where the value of analog ICs per vehicle is increasing [2][10] Company Performance and Financials - 思瑞浦's revenue structure for 2024 is projected to be 40%-45% from industrial, 17% from automotive, and 20%-25% from communication. In Q1 2025, automotive revenue is expected to approach 20%, with a nearly 90% year-on-year growth in automotive revenue compared to 2023 [2][6] - The company has a rich product line with over 2,800 products by the end of 2024, including more than 200 mass-produced automotive-grade products. The cumulative shipment volume has exceeded 10 billion units, indicating long-term growth potential in the analog field [2][7] - Despite a revenue decline in 2023-2024 due to decreased income from communication and industrial sectors, Q1 2025 has shown a recovery in growth. Profit margins are expected to rebound this year due to margin optimization and cost control measures [2][9] Market Dynamics - Recent price increases in analog components by competitors like TI (Texas Instruments) have sparked interest in the analog sector. TI has raised prices by up to 30% on several products, with some ADC prices doubling. This price increase is expected to create opportunities for domestic manufacturers [3][4][19] - The ongoing U.S.-China competition is anticipated to accelerate the localization process within the industry [5] Product Development and Innovation - 思瑞浦 is actively reducing reliance on major foundries by introducing other suppliers and has achieved synergies through the acquisition of 创新威. The company continues to launch new products to expand market share while controlling R&D expenses to enhance profit elasticity [4][11] - The automotive product line includes a variety of power management products, with significant contributions from the CAN transceiver and the newly launched audio sensor network (ASN), which fills a gap in the domestic audio bus market [13] Future Outlook - The communication sector, previously accounting for 60% of total revenue, has seen a decline due to lower-than-expected demand. However, the anticipated start of 6G technology research in 2025 is expected to initiate a new procurement cycle, positively impacting revenue [15][16] - The consumer electronics segment, which previously contributed minimally to revenue, has started to show growth following the acquisition of 创新威, with significant contributions expected in 2025 [17] - Profitability forecasts indicate that the signal chain department is expected to grow by 37% in 2025, with gross margins gradually recovering, particularly as price pressures from TI diminish [18] Conclusion - Overall, 思瑞浦 is positioned well within the analog IC market, with strong growth prospects driven by product innovation, market recovery, and favorable pricing dynamics. The company is recommended for continued investment as it navigates the evolving landscape of the semiconductor industry [21]

Group 1: Company Performance - The company experienced a significant increase in revenue from the automotive electronics sector, with a year-on-year growth of 80%, reaching 207 million yuan, accounting for 16.95% of total revenue in 2024 [1] - The acquisition of Chuangxinwei has enhanced the company's product and market layout in the consumer electronics sector, leading to rapid growth in sales and revenue as consumer electronic terminal shipments gradually recover [1][2] - Chuangxinwei's revenue for 2024 increased by 23.01% year-on-year, with a net profit growth of 165.46% after excluding share-based payment expenses [2] Group 2: Market Trends and Opportunities - The wireless communication market is showing signs of marginal recovery in customer demand starting from the second half of 2024 after a prolonged inventory destocking period [1] - The company plans to continue enhancing its market share and introducing new products in the diversified applications within the industrial sector [1] - The collaboration with Chuangxinwei is expected to create synergies in the industrial and automotive markets, leveraging Chuangxinwei's expertise in BMS technology and product development [2] Group 3: Financial Projections - Revenue projections for the company from 2025 to 2027 are estimated at 2.035 billion, 2.756 billion, and 3.631 billion yuan, with year-on-year growth rates of 67%, 35%, and 32% respectively [3] - The company is expected to turn profitable with net profits of 115 million, 256 million, and 458 million yuan for the same period, reflecting significant growth rates of +123% and +79% in 2026 and 2027 [3] - The company has been assigned a "buy" rating based on its strong revenue growth, cost control, and the potential for profit elasticity amid the recovery in industrial sectors and the acceleration of domestic chip substitution [3]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2]. Core Insights - The company has seen significant revenue growth in the automotive electronics sector, with a 80% year-on-year increase in revenue from the automotive market, reaching 207 million yuan in 2024, accounting for 16.95% of total revenue [4]. - The wireless communication market is showing signs of recovery after a prolonged inventory destocking period, with demand expected to improve in the second half of 2024 [4]. - The acquisition of Chuangxinwei has enhanced the company's product and market layout in the consumer electronics sector, with Chuangxinwei's revenue growing by 23.01% year-on-year in 2024 [4]. - The company anticipates strong synergy between its own business and Chuangxinwei, leveraging its platform capabilities and Chuangxinwei's experience in the consumer market [4]. - Revenue forecasts for 2025-2027 are projected at 2.035 billion, 2.756 billion, and 3.631 billion yuan, with year-on-year growth rates of 67%, 35%, and 32% respectively [4]. Company Overview - The company, founded in 2012 and listed on the STAR Market in 2020, focuses on high-performance integrated circuit products, including signal chain and power management chips [13]. - As of the end of 2024, the company has over 2,800 products, including more than 200 automotive-grade chips [13][14]. - The company has a diverse application range, covering automotive electronics, communications, industrial applications, and consumer electronics [14]. Financial Analysis - The company experienced significant revenue growth in Q1 2025, achieving 422 million yuan, a 110.88% increase year-on-year, and turning a profit with a net profit of 15.56 million yuan [26]. - The company's revenue and net profit have shown volatility due to macroeconomic factors and industry cycles, with a five-year CAGR of 74% from 2017 to 2022 [26]. - In 2024, the company reported revenue of 975 million yuan from signal chain chips and 244 million yuan from power management chips, with year-on-year growth rates of 12.19% and 11.89% respectively [28]. Market Analysis - The global analog IC market is valued at over 80 billion USD, with China being a major participant [39]. - The company is positioned to benefit from the ongoing trend of domestic substitution in the semiconductor industry, particularly in the automotive and industrial sectors [50]. - The automotive chip market is expected to grow significantly, with projections indicating a market size of 180 billion USD in China by 2025 [62].

《上海证券交易所首次公开发行证券发行与承销业务实 施细则》等法律、法规和中国证券监督管理委员会的有关规定，按照《律师事务 所从事证券法律业务管理办法》《律师事务所证券法律业务执业规则（试行）》 的要求，按照律师行业公认的业务标准、道德规范和勤勉尽责精神，就思瑞浦本 次发行的相关文件资料和已存事实进行了核查和验证，并据此出具本《关于思瑞 浦微电子科技（苏州）股份有限公司发行可转换公司债券及支付现金购买资产并 募集配套资金之募集配套资金向特定对象发行股票发行过程和认购对象合规性 的法律意见书》（以下简称"本法律意见书"）。 国浩律师（上海）事务所 法律意见书 | 国浩律师（上海）事务所 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 关 | | 于 | | | | | | 思瑞浦微电子科技（苏州）股份有限公司 | | | | | | | | 发行可转换公司债券及支付现金购买资产 | | | | | | | | 并募集配套资金 | | | | | | | | | | 之 | | | | | | 募集配套资金向特定对象发行股票 | | | | | ...

思瑞浦微电子科技（苏州）股份有限公司 独立财务顾问（主承销商） 上市公司全体董事声明 发行可转换公司债券及支付现金购买资产 并募集配套资金向特定对象发行股票 本公司及全体董事承诺本发行情况报告书不存在虚假记载、误导性陈述或者 重大遗漏，并对所提供信息的真实性、准确性、完整性承担相应的法律责任。 全体董事签字： | ZHIXU | ZHOU | FENG | YING | 吴建刚 | | --- | --- | --- | --- | --- | | 王 | 林 | 章晨健 | | 张明权 | | 潘 | 飞 | 黄 | 生 | 朱光伟 | | | | | | 思瑞浦微电子科技（苏州）股份有限公司 | 年 月 日 上市公司全体监事声明 （深圳市前海深港合作区南山街道桂湾五路 128 号前海深港基金小镇 B7 栋 401） 二〇二五年七月 发行情况报告书 本公司及全体监事承诺本发行情况报告书不存在虚假记载、误导性陈述或者 重大遗漏，并对所提供信息的真实性、准确性、完整性承担相应的法律责任。 全体监事签字： 何德军 类先盛 胡颖平 思瑞浦微电子科技（苏州）股份有限公司 年 月 日 上市公司全体高级管理人员声明 本公 ...

Summary of Key Points Core Viewpoint The report outlines the compliance and process of issuing convertible bonds and raising funds through a specific stock issuance by Si Rui Pu Microelectronics Technology (Suzhou) Co., Ltd. The issuance aims to support the acquisition of assets and is conducted under the regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange. Group 1: Issuance Overview - The issuance price is set at 125.80 yuan per share, which is 117.36% of the minimum price based on the average trading price over the previous 20 trading days [2][3][10] - The total amount raised from the issuance is capped at 383.38 million yuan, with a final issuance of 3,047,535 shares [3][10][17] - The issuance process has been approved by the board of directors and shareholders, complying with relevant regulations [4][20] Group 2: Compliance and Procedures - The issuance followed necessary internal and external approval processes, including obtaining registration from the China Securities Regulatory Commission [4][20] - The report confirms that the issuance process adhered to the principles of fairness and transparency, ensuring no conflicts of interest among the involved parties [19][20] - The final investors selected for the issuance are compliant with the regulations and do not include any related parties that could pose a conflict of interest [10][20] Group 3: Investor Participation - A total of 6 investors were confirmed for the issuance, all of whom met the criteria set forth in the relevant regulations [2][10] - The investors' funds were verified to ensure they did not receive any guarantees or financial support from the issuer or its major shareholders [18][20] - The issuance included a lock-up period of 6 months for the newly issued shares, preventing immediate resale [10][20]