Group 1 - The A-share semiconductor sector experienced an initial surge, with significant gains observed in stocks such as Xidian, which rose over 10% [1] - Other companies that followed the upward trend include Fulede, Sraypu, Chipengwei, Naxinwei, and Silan Micro [1]

公司点评 -30% 10% 49% 89% 128% 5/24 8/24 11/24 2/25 5/25 思瑞浦 沪深300 [Table_Author] 分析师：陈耀波 [Table_StockNameRptType] 思瑞浦（688536） Q1 实现扭亏，各下游亮点纷呈 | 投资评级：增持（维持） [Table_Rank] | | --- | | 报告日期： 2025-05-21 | | [Table_BaseData] 收盘价（元） | 146.82 | | --- | --- | | 近 12 个月最高/最低（元） | 194.95/66.80 | | 总股本（百万股） | 133 | | 流通股本（百万股） | 133 | | 流通股比例（%） | 100.00 | | 总市值（亿元） | 195 | | 流通市值（亿元） | 195 | [ 公司价 Table_Chart] 格与沪深 300 走势比较 公司在 2024 年实现营业收入 12 亿元，同比增加 12%；归母净利润-2 亿元，同比减少 468%；扣非净利-3 亿元，同比减少 150%。 l Q1 收入大幅增长，带动公司实现扭亏 202 ...

Core Points - The company will hold its annual shareholder meeting on May 30, 2025, to discuss various proposals including the remuneration of directors for 2024 and 2025 [1][2] - The company achieved a revenue of 1.22 billion RMB in 2024, representing a year-on-year growth of 11.52% [11] - The gross profit margin for the company was 48.19%, a decrease of 3.59 percentage points compared to the previous year [11] - The company reported a net profit attributable to shareholders of -197.22 million RMB for 2024, leading to a proposal of no cash dividends for the year [31][32] Meeting Procedures - The meeting will be conducted with strict attendance rules, allowing only shareholders, representatives, and invited personnel to enter [2][3] - Voting will be conducted both on-site and online, with specific time slots for each method [6] - Shareholders must register 30 minutes before the meeting and present necessary identification [2][3] Financial Performance - The company’s management chip products generated sales of 244 million RMB, with a year-on-year growth of 11.89% [11] - The company’s total equity stood at 5.30 billion RMB, with cash and investment balances around 3.69 billion RMB [11] Board and Governance - The board of directors consists of 9 members, including 3 independent directors, and has held 12 meetings during the reporting period [12][19] - The independent directors have actively participated in decision-making and have maintained communication with the management [19] Audit and Compliance - The company plans to reappoint Rongcheng Accounting Firm for the 2025 financial and internal control audit [37] - The audit firm has a strong track record, having audited 394 listed companies in 2023 [33] Future Plans - The company aims to enhance its governance structure and improve operational efficiency in 2025 [22] - The focus will be on maintaining sufficient funds for ongoing development and addressing operational risks [32]

[Table_StockNameRptType] 思瑞浦（688536） 公司点评 [Table_Author] 分析师：陈耀波 | 执业证书号：S0010523060001 | | --- | | 邮箱： chenyaobo@hazq.com | 分析师：李美贤 执业证书号：S0010524020002 邮箱： limeixian@hazq.com !"#$% l[Table_Summary] 事件 Q1 实现扭亏，各下游亮点纷呈 | | | | [Table_BaseData] 收盘价（元） | 146.82 | | --- | --- | | 近 12 个月最高/最低（元） | 194.95/66.80 | | 总股本（百万股） | 133 | | 流通股本（百万股） | 133 | | 流通股比例（%） | 100.00 | | 总市值（亿元） | 195 | | 流通市值（亿元） | 195 | [ 公司价 Table_Chart] 格与沪深 300 走势比较 -30% 10% 49% 89% 128% 5/24 8/24 11/24 2/25 5/25 思瑞浦 沪深300 公司 2025 年第一季 ...

Group 1 - The core viewpoint is that the China Securities Regulatory Commission (CSRC) is expediting a comprehensive policy package to deepen reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, aiming to enhance the scale and proportion of medium to long-term capital entering the market [1] - The People's Bank of China and four other departments are implementing policies to support technological innovation, encouraging financial institutions to expand first-time financing and equipment renewal loans for tech companies [1] - Guoyuan Securities believes that under high global technological barriers, companies on the Sci-Tech Innovation Board are pursuing independent innovation across various sectors, including chip design, biomedicine, high-end equipment, and new energy, positioning themselves as pioneers in the international value chain [1] Group 2 - As of April 30, 2025, the top ten weighted stocks in the Sci-Tech Innovation Board 100 Index account for 25.04% of the index, with companies like Hengxuan Technology and BeiGene among the leaders [2] - The Sci-Tech 100 ETF fund has shown a positive performance, with notable increases in the stock prices of several constituent companies, indicating a favorable market sentiment [1]

Group 1: Longxin Co., Ltd. (良信股份) - Longxin Co., Ltd. focuses on smart distribution business, particularly in industrial and commercial buildings, providing customized smart distribution solutions to expand market share [1] - The company's data center products are applied in areas such as power distribution, intelligent monitoring, and smart operations, collaborating closely with major domestic clients to develop customized products and expand overseas markets [1] - In Q1 2025, the gross margin improved due to product structure optimization, increased sales of high-margin new products, and better cost reduction effects compared to the previous year [1] - Rapid growth areas in Q1 include new energy, electricity, and data center industries [1] Group 2: Sirepu (思瑞浦) - In Q1 2025, Sirepu achieved operating revenue of 421.79 million yuan, a year-on-year increase of 110.88%, and net profit of 15.56 million yuan, marking a return to profitability [1] - Revenue from signal chain chips reached 286.65 million yuan, up 64.86%, while power management chip revenue soared to 135.04 million yuan, a staggering increase of 416.53% [1] - The company anticipates long-term growth in the analog integrated circuit design industry, benefiting from the development of emerging industries such as new energy vehicles, the Internet of Things, and artificial intelligence, along with support from national policies [1] - Sirepu has completed multi-market layouts, with industrial market demand gradually recovering, communication market business rebounding, and the automotive market expected to maintain high growth rates, while consumer market business is set to grow [1] Group 3: Changxin Fund (长信基金) - Changxin Fund, established in 2003, has an asset management scale of 179.66 billion yuan, ranking 37th out of 210 [2] - The fund's non-monetary public fund asset management scale is 85.70 billion yuan, ranking 52nd out of 210 [2] - The fund manages 170 public funds, ranking 41st out of 210, with 33 fund managers, ranking 36th out of 210 [2] - The best-performing public fund product in the past year is Changxin Electronic Information Quantitative Flexible Allocation Mixed A, with a latest net value of 1.06 and a growth of 38.2% over the past year [2] - The latest public fund product raised by Changxin is Changxin Stable Rui Pure Bond A, a long-term bond type, with a subscription period from March 24, 2025, to May 23, 2025 [2]

Core Viewpoint - 3PEAK has experienced a decline in stock price over four consecutive trading days, with a cumulative drop of -5.50%. The company focuses on developing high-performance, high-quality, and highly reliable integrated circuit products, including signal chain analog chips and power management analog chips, providing comprehensive solutions for customers [1]. Group 1: Company Performance - 3PEAK has seen a stock price decrease of -5.50% over the last four trading days [1]. - The company specializes in integrated circuit products, including signal chain analog chips and power management analog chips [1]. Group 2: Fund Holdings - Two funds managed by Wan Jia Fund have entered the top ten shareholders of 3PEAK, namely Wan Jia Industry Preferred Mixed (LOF) and Wan Jia Independent Innovation Mixed A [1]. - Wan Jia Industry Preferred Mixed (LOF) has a year-to-date return of 27.68%, ranking 78th out of 4548 in its category, while Wan Jia Independent Innovation Mixed A has a year-to-date return of 18.99%, ranking 196th out of 4548 [2]. Group 3: Fund Manager Profile - The fund manager for both Wan Jia funds is Huang Xingliang, who holds a Ph.D. from Tsinghua University and has over ten years of experience in the investment management industry [5][6]. - Huang Xingliang has managed multiple funds since joining Wan Jia Fund Management Company in November 2018, including various mixed-type funds [5][6].

Core Viewpoint - The company has expanded its revenue base through the consolidation of Chuangxinwei, achieving profitability in Q1 2025 after a period of losses, indicating a positive turnaround in financial performance [1][2]. Group 1: Financial Performance - In 2024, the company reported revenue of 1.22 billion yuan, a year-on-year increase of 11.52%, with a net loss of 197 million yuan and a gross margin of 48.19% [1]. - For Q1 2025, the company achieved revenue of 422 million yuan, a year-on-year increase of 110.9%, with a net profit of 15.56 million yuan, marking the first quarterly profit since Q4 2023 [1][2]. - The gross margin for Q1 2025 was 46.43%, showing a slight decline compared to the previous year [1]. Group 2: Business Segments - The automotive electronics segment is growing rapidly, with expected revenue of approximately 207 million yuan in 2024, representing a year-on-year growth of about 80% [2]. - The communications segment is recovering from a downturn, with growth anticipated in the optical module and server markets starting from the second half of 2024 [2]. - The industrial segment is gradually improving, focusing on increasing market share and introducing new products in areas like renewable energy and industrial control [2]. - The acquisition of Chuangxinwei has strengthened the company's position in the consumer electronics sector, contributing positively to overall profits [3]. Group 3: Strategic Developments - The acquisition of Chuangxinwei has enhanced the company's capabilities in consumer electronics, with significant contributions expected in the coming years [3]. - Chuangxinwei's product offerings, including lithium battery protection ICs and power devices, are expected to bolster the company's competitive edge in the consumer electronics market [3]. - The company has set performance commitments for Chuangxinwei, aiming for a combined net profit of no less than 220 million yuan from 2024 to 2026 [3].

证券时报·数据宝统计显示，5月6日共有12只科创板股发生大宗交易，合计成交21笔，累计成交量522.69 万股，成交额合计2.30亿元。 12只科创板股大宗交易平台今日发生交易，合计成交2.30亿元。 资金流向方面，今日发生大宗交易的科创板股中，有7股获主力资金净流入，净流入资金居前的有芯动 联科、爱科赛博、凌云光等，净流入资金为1755.59万元、1156.24万元、886.49万元，净流出资金居前 的有希荻微、灿芯股份、东微半导等，净流出资金为2155.66万元、866.68万元、369.54万元。 科创板股5月6日大宗交易概况 | 代码 | 简称 | 成交笔 | 大宗交易数量 | 平均成交价格 | 相对收盘价折溢价 | 大宗交易金额 | | --- | --- | --- | --- | --- | --- | --- | | | | 数 | （万股） | （元） | （%） | （万元） | | 688333 | 铂力特 | 1 | 127.05 | 68.00 | -0.41 | 8639.46 | | 688536 | 思瑞浦 | 1 | 39.00 | 155.77 | 0.00 | 6075. ...