| 证券代码：688536 | 证券简称：思瑞浦 | 公告编号：2025-010 | | --- | --- | --- | | 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 部分董事减持股份结果公告 本公司董事会、全体董事及相关股东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。 本次减持计划实施前，思瑞浦微电子科技（苏州）股份有限公司（以下简称 "公司"）董事长 ZHIXU ZHOU 先生持有公司股份 9,988,648 股，占公司当前总 股本的 7.53%。以上股份为公司首次公开发行前以及上市以来资本公积转增股本 所取得的股份，于 2023 年 9 月 21 日起解除限售上市流通。2023 年 9 月 13 日， 董事长 ZHIXU ZHOU 先生出具《关于自愿延长限售股锁定期的承诺》，承诺将 前述股份自愿延长锁定期 6 个月至 2024 年 3 月 20 日。 减持计划的实施结果情况 2024 年 12 月 31 日，公司披露了《部分董事、高级管理人员减持股份计划 公告》（公告编号：202 ...

Financial Performance - The company achieved total operating revenue of RMB 121,953.82 million, an increase of 11.52% compared to the same period last year[4] - The net profit attributable to the parent company was RMB -19,535.26 million, a significant decline from RMB -3,471.31 million in the previous year[4] - The comprehensive gross profit margin for the year was 48.20%[6] - The basic earnings per share were RMB -1.48, down from RMB -0.28 in the previous year[4] - The company reported a weighted average return on equity of -3.61%, a decrease of 2.76 percentage points year-on-year[4] Assets and Equity - Total assets at the end of the reporting period were RMB 619,803.96 million, reflecting a growth of 4.91% from the beginning of the period[4] - The equity attributable to the parent company was RMB 530,265.36 million, with a decrease of 4.95% compared to the previous period[4] - The company holds approximately RMB 3.688 billion in cash and investment balances, indicating a healthy asset-liability situation[6] Inventory and Expenses - The company plans to recognize a provision for inventory impairment of over RMB 92 million due to increased long-term inventory[6] - The company has been actively investing in R&D and expanding its market presence, which has led to increased operating expenses[6]

Core Viewpoint - The article emphasizes the importance of the semiconductor industry in China's new industrialization, highlighting the role of the Science and Technology Innovation Board (STAR Market) in supporting the growth and innovation of this sector through capital and policy initiatives [1][2]. Group 1: Industry Support and Development - The China Securities Regulatory Commission (CSRC) aims to enhance support for key industries such as integrated circuits, industrial mother machines, and medical equipment, recognizing the semiconductor industry as a strategic and foundational sector for economic development [1]. - Since its establishment, the STAR Market has become the preferred platform for semiconductor companies to go public, with 116 semiconductor firms listed, accounting for 60% of A-share semiconductor companies [1][2]. - The STAR Market has facilitated significant capital inflow, with 116 semiconductor companies raising a total of 298.9 billion yuan through IPOs, representing over 80% of the total IPO fundraising in the A-share semiconductor sector [2]. Group 2: Capital Utilization and R&D Investment - The average capital utilization rate among the 116 semiconductor companies is 66%, indicating high efficiency in fund usage [2]. - In the first three quarters of 2024, these companies invested a total of 32.9 billion yuan in R&D, with a median R&D intensity of 17%, significantly higher than the overall A-share level of 4% [2]. - Notable advancements include the development of a new generation of CPUs by Loongson Technology and the introduction of domestically produced CMP equipment by Huahai Qingshi, showcasing the impact of increased R&D investment [2]. Group 3: Policy Innovations and Talent Attraction - The STAR Market has implemented flexible stock incentive mechanisms to attract and retain high-end talent, with 77 semiconductor companies launching 150 stock incentive plans, covering approximately 66% of the sector [3]. - The introduction of policies to support mergers and acquisitions has led to a surge in high-quality industry consolidations, with 76 disclosed equity acquisitions since the "Eight Measures" policy, totaling over 19 billion yuan [4]. Group 4: Market Mechanisms and Investment Products - The STAR Market has established a market-friendly environment for venture capital and institutional investors, including the introduction of a market-making system to enhance liquidity and price stability [6]. - The STAR Market has also launched thematic indices and ETFs focused on the semiconductor industry, catering to investor demand and facilitating participation in the sector's growth [6].

| 证券代码：688536 | 证券简称：思瑞浦 | 公告编号：2025-008 | | --- | --- | --- | | 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 股东大宗交易减持股份计划时间届满暨减持股份 结果公告 本公司董事会、全体董事及相关股东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： 本次减持计划实施前大股东持股基本情况 本次减持计划实施前，思瑞浦微电子科技（苏州）股份有限公司（以下简称 "公司"）股东苏州金樱创业投资合伙企业（有限合伙）（以下简称"金樱创投"） 持有公司股份 9,567,572 股，占公司当前总股本的 7.22%。以上股份为公司首次 公开发行前以及上市以来资本公积转增股本所取得的股份，于 2023 年 9 月 21 日起解除限售上市流通。2023 年 9 月 13 日，金樱创投出具《关于自愿延长限售 股锁定期的承诺》，承诺将前述股份自愿延长锁定期 6 个月至 2024 年 3 月 20 日。 减持计划的实施结果情况 2024 年 10 月 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][6]. Core Views - The company is expected to achieve revenue of between 1.205 billion to 1.25 billion yuan in 2024, representing a year-on-year growth of 10.19% to 14.31%. However, it anticipates a net loss attributable to shareholders of between 197 million to 180 million yuan, a decrease of 145 million to 162 million yuan compared to the previous year [1]. - In Q4 2024, the company is projected to achieve a single-quarter revenue of 357 million to 402 million yuan, with a quarter-on-quarter growth of 4.39% to 17.54% and a year-on-year growth of 27.5% to 43.57% [2]. - The company has completed the acquisition of Shenzhen Chuangxin Microelectronics Co., Ltd., enhancing its product matrix and customer base [3]. - The company is focusing on optimizing its product line and internal resource allocation, particularly in the analog and mixed-signal product lines [3]. Summary by Sections Revenue and Profit Forecast - The company’s revenue for 2024 is forecasted at 1.245 billion yuan, with a growth rate of 13.81%. The net profit is expected to be a loss of 190 million yuan, with a significant adjustment of -177% from previous estimates [4][5]. - The revenue for 2025 is projected to be 1.884 billion yuan, reflecting a growth rate of 51.41% [5]. Product Development and Market Strategy - The company is increasing its R&D investment to accelerate the development of new products in signal chains, power management, and automotive-grade products, with a notable increase in the number of new products launched [2][3]. - The company is also enhancing its market expansion efforts both domestically and internationally, increasing its sales personnel and marketing investments [2]. Financial Metrics - The company’s gross margin is expected to be around 48% in 2024, with a projected decline in gross margin to 45.9% in 2025 [3][4]. - The P/E ratios for 2024, 2025, and 2026 are projected to be N/A, 78X, and 28X respectively [4][5]. Valuation - The report suggests that despite the pressure on 2024 earnings, the progress of new products and the gradual ramp-up of automotive business are positive indicators for the company's long-term potential [4].

Financial Projections - The company expects to achieve operating revenue of between 1,205 million and 1,250 million yuan in 2024, representing a year-on-year increase of 10.19% to 14.31%[3] - The projected net profit attributable to shareholders is expected to be between -197 million and -180 million yuan, a decrease of 145.29 million to 162.29 million yuan compared to the previous year[3] - The company anticipates a net cash flow from operating activities of 70 million to 80 million yuan, a significant improvement from -164.89 million yuan in the previous year[3] - The comprehensive gross profit margin for 2024 is estimated to be around 48%[5] - The financial data provided is preliminary and subject to final audit, with no significant uncertainties affecting the accuracy of the forecast identified[9] Business Developments - The overall shipment volume is expected to increase by over 50% compared to the same period last year[5] - The company completed the acquisition of 100% equity in Shenzhen Chuangxin Microelectronics Co., enhancing its business and customer structure[5] Operational Strategies - The company plans to recognize inventory impairment provisions of 85 million to 95 million yuan due to increased long-term inventory ratios[6] - Increased R&D investment is expected to accelerate the development of new products in signal chains, power management, and automotive-grade applications[6] - The company has increased its sales personnel and marketing efforts in overseas markets, leading to higher sales expenses[6]

| 证券代码：688536 | 证券简称：思瑞浦 公告编号：2025-002 | | --- | --- | | 转债代码：118500 | 转债简称：思瑞定转 | 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 1 月 10 日 （二） 股东大会召开的地点：上海市浦东新区张东路 1761 号（创企天地）2 号 楼 4 楼会议室 思瑞浦微电子科技（苏州）股份有限公司 2025 年第一次临时股东大会决议公告 本公司董事会及全体董事保证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： （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 82 | | --- | --- | | 普通股股东人数 | 82 | | 2、出席会议的股东所持有的表决权数量 | 61,801,443 | | 普通股股东所持有表决权数量 | 61,801,443 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的 | 47.0 ...

证券代码：688536 证券简称：思瑞浦 公告编号：2025-004 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 第四届董事会第一次会议决议公告 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、董事会会议召开情况 思瑞浦微电子科技（苏州）股份有限公司（以下简称"公司"）第四届董事 会第一次会议通知已于 2025 年 1 月 3 日发出，会议于 2025 年 1 月 10 日在公司 会议室以现场结合通讯表决的方式召开。本次会议应参加董事 9 名，实际参加董 事 9 名。本次会议由董事 ZHIXU ZHOU（周之栩）主持。会议的召集与召开符 合《中华人民共和国公司法》和《思瑞浦微电子科技（苏州）股份有限公司章程》 等相关规定，表决形成的决议合法、有效。 二、董事会会议审议情况 （一）审议通过《关于董事会战略委员会调整为董事会战略与可持续发展委 员会并修订相关制度的议案》 表决结果：9 票同意，0 票反对，0 票弃权。 详见公司同日刊登在上海证券交易所网站（www.sse.com.cn） ...

2025 年第一次临时股东大会 之 法律意见书 上海市山西北路 99 号苏河湾中心 MT 25-28 层 邮编：200085 25-28/F, Suhe Centre, No.99 North Shanxi Road, Shanghai 200085, China 电话/Tel: +86 21 5234 1668 传真/Fax: +86 21 5234 1670 网址/Website: http://www.grandall.com.cn 二零二五年一月 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 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 2025 年第一次临时股东大会之法律意见书 致：思瑞浦微电子科技（苏州）股份有限公司 受思瑞浦微电子科技（苏州）股份有限公司（以下简称"公司"）委托，国 浩律师（上海）事务所（以下简称"本所"）指派律师出席了公司于 2025 年 1 月 10 日召开的 2025 年第一次临时股东大会，并根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"） 等法律、法规及中国证券监督管理 ...

董事会战略与可持续发展委员会工作细则 第一章 总则 第二章 人员组成 委员会委员可以在任期届满以前向董事会提出辞职，辞职报告中应当 就辞职原因以及需要公司董事会予以关注的事项进行必要说明。 思瑞浦微电子科技（苏州）股份有限公司 经董事长提议并经董事会讨论通过，可对委员会委员在任期内进行调 整。 第七条 战略与可持续发展委员会因委员不再担任公司董事、辞职、免职或其 他原因，导致人数不足三人时，董事会应当根据本细则规定补足委员 人数，补充委员的任职期限截至该委员担任董事的任期结束。 1 第一条 为适应思瑞浦微电子科技（苏州）股份有限公司（以下简称"公司"） 战略发展需要，保证公司发展规划和战略决策的科学性，增强公司的 可持续发展能力，根据《中华人民共和国公司法》（以下简称"《公 司法》"）《上市公司治理准则》《思瑞浦微电子科技（苏州）股份 有限公司章程》（以下简称"公司章程"）及其他有关规定，公司特 设立董事会战略与可持续发展委员会，并制定本细则。 第二条 董事会战略与可持续发展委员会是董事会设立的专门工作机构，对董 事会负责，向董事会报告工作。 第三条 战略与可持续发展委员会成员由三到五名董事组成。 第四条 公 ...