Core Viewpoint - The China Securities 1000 Growth ETF (562520) opened with a slight decline of 0.15%, priced at 1.376 yuan, while its constituent stocks showed mixed performance on January 7 [1] Group 1: ETF Performance - The China Securities 1000 Growth ETF (562520) has a performance benchmark based on the China Securities Intelligent Selection 1000 Growth Innovation Strategy Index [1] - Since its inception on March 8, 2022, the fund has achieved a return of 37.50%, with a one-month return of 8.71% [1] Group 2: Constituent Stocks Performance - Among the top holdings, Jucheng Co. saw a significant increase of 13.14%, while other stocks like Gylon Electronics and SourceJet Technology also experienced slight gains of 0.22% and 2.94% respectively [1] - Conversely, stocks such as Gigabit and Lexin Technology faced declines of 0.60% and 0.49% respectively, indicating a mixed performance across the ETF's holdings [1]

Core Viewpoint - The stock of SiRuPu Microelectronics has shown significant growth in recent trading sessions, with a notable increase in revenue and net profit year-on-year, indicating strong business performance and investor interest [1][2]. Group 1: Stock Performance - As of January 6, SiRuPu's stock price increased by 2.08%, reaching 165.68 CNY per share, with a trading volume of 3.67 billion CNY and a turnover rate of 1.70%, resulting in a total market capitalization of 22.847 billion CNY [1]. - Year-to-date, SiRuPu's stock has risen by 3.63%, with a 6.21% increase over the last five trading days, a 17.50% increase over the last twenty days, and a 3.87% increase over the last sixty days [1]. Group 2: Financial Performance - For the period from January to September 2025, SiRuPu achieved a revenue of 1.531 billion CNY, representing a year-on-year growth of 80.47%, and a net profit attributable to shareholders of 126 million CNY, reflecting a substantial increase of 227.64% [2]. - Since its A-share listing, SiRuPu has distributed a total of 90.985 million CNY in dividends, with 24.760 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, SiRuPu had 18,100 shareholders, an increase of 57.25% from the previous period, with an average of 7,321 circulating shares per shareholder, a decrease of 36.41% [2]. - Among the top ten circulating shareholders, notable changes include a decrease in holdings by Galaxy Innovation Mixed A and Wan Jia You Xuan, while Hong Kong Central Clearing Limited entered as a new shareholder [3].

| 证券代码：688536 | 证券简称：思瑞浦 | 公告编号：2026-001 | | --- | --- | --- | | 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 关于定向可转债转股结果暨股份变动及未转股的可转债面 值总额少于 3000 万元的公告 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： ●累计转股情况：思瑞浦微电子科技（苏州）股份有限公司（以下简称"公 司"）定向可转债"思瑞定转"自 2025 年 4 月 25 日起转股。截至 2025 年 12 月 31 日，定向可转债"思瑞定转"累计转股金额 355,400,000 元，累计因转股形成 的股份数量为 2,249,360 股，占转股前公司总股本（132,601,444 股）的 1.70%。 ●未转股可转债情况：截至 2025 年 12 月 31 日，尚未转股的"思瑞定转" 金额为 27,989,300 元（279,893 张），占可转债发行总额的比例为 7.30%。未转股 的定向可转债" ...

思瑞浦公告称，截至2025年12月31日，"思瑞定转"累计转股金额3.55亿元，累计转股数量224.94万股， 占转股前总股本的1.70%。未转股金额2798.93万元，占发行总额的7.30%，面值总额少于3000万元。 2025年第四季度转股金额3.55亿元，转股股数224.94万股。转股后公司总股本由13564.90万股扩大至 13789.83万股，持股5%以上股东苏州金樱创业投资合伙企业（有限合伙）持股比例由6.08%降至 5.98%。 ...

Market Performance - The semiconductor sector increased by 1.29% on December 24, with C Youxun leading the gains [1] - The Shanghai Composite Index closed at 3940.95, up 0.53%, while the Shenzhen Component Index closed at 13486.42, up 0.88% [1] Top Gainers in Semiconductor Sector - C Youxun (688807) closed at 231.60, up 14.03% with a trading volume of 75,500 shares and a transaction value of 1.682 billion [1] - Huayou Smoke Machine (688535) closed at 117.40, up 12.88% with a trading volume of 107,900 shares and a transaction value of 1.207 billion [1] - SIRUI (688536) closed at 158.00, up 10.10% with a trading volume of 65,400 shares and a transaction value of 1.002 billion [1] - Demingli (001309) closed at 221.00, up 9.13% with a trading volume of 262,900 shares and a transaction value of 5.712 billion [1] Market Capital Flow - The semiconductor sector saw a net inflow of 1.652 billion from institutional investors, while retail investors experienced a net outflow of 132 million [2] - The top stocks with significant net inflows from institutional investors include Demingli with 908 million and Zhaoyi Innovation with 595 million [3] Notable Decliners in Semiconductor Sector - Muxi Co., Ltd. (688802) closed at 620.66, down 7.03% with a trading volume of 46,300 shares and a transaction value of 2.921 billion [2] - Moer Thread (688795) closed at 634.01, down 6.32% with a trading volume of 57,200 shares and a transaction value of 3.668 billion [2] - Helin Micro-Nano (688661) closed at 52.58, down 4.92% with a trading volume of 110,200 shares and a transaction value of 581 million [2]

Core Viewpoint - The A-share market shows positive momentum with the Shanghai Composite Index closing at 3940.95 points, above the six-month moving average, reflecting a gain of 0.53% [1] Group 1: Market Performance - The total trading volume of A-shares reached 1,897.242 billion yuan today [1] - A total of 193 A-shares have surpassed the six-month moving average, indicating strong market interest [1] Group 2: Individual Stock Performance - The stocks with the highest deviation rates from the six-month moving average include: - Xinjingang (300629) with a deviation rate of 10.73%, closing at 22.66 yuan after a 20.02% increase [2] - Puni Testing (300887) with a deviation rate of 10.50%, closing at 9.32 yuan after a 19.95% increase [2] - Pulit (002324) with a deviation rate of 9.18%, closing at 14.42 yuan after a 9.99% increase [2] - Other notable stocks with significant performance include: - Anhui Heli (600761) with a 9.98% increase and a deviation rate of 7.99% [2] - Wuzhou Special Paper (605007) also increased by 9.97% with a deviation rate of 7.99% [2] - Beijing Culture (000802) saw a 10.11% increase with a deviation rate of 7.39% [2]

Group 1 - The core viewpoint of the news is that SIRUI Technology has seen a stock price increase of 5.05%, reaching 150.76 CNY per share, with a trading volume of 276 million CNY and a turnover rate of 1.40%, resulting in a total market capitalization of 20.775 billion CNY [1] - SIRUI Technology, established on April 23, 2012, and listed on September 21, 2020, is located in the China (Shanghai) Free Trade Zone and specializes in the research and sales of analog integrated circuit products [1] - The company's main business revenue composition includes 67.70% from signal chain analog chips, 32.25% from power analog chips, and 0.05% from other sources [1] Group 2 - From the perspective of major fund holdings, one fund under Green Fund has a significant position in SIRUI Technology, with the Green Macro Return Mixed A Fund (020062) holding 32,500 shares, accounting for 0.76% of the fund's net value, ranking as the eighth largest holding [2] - The Green Macro Return Mixed A Fund has a current scale of 487 million CNY and has achieved a year-to-date return of 49.44%, ranking 1137 out of 8088 in its category [2] - The fund manager, Zheng Zhonghua, has been in position for 6 years and 288 days, with the fund's total asset scale at 849 million CNY, achieving a best return of 76.58% and a worst return of 22.59% during his tenure [2]

Group 1 - The core viewpoint of the articles highlights a surge in mergers and acquisitions (M&A) within the semiconductor sector, driven by policy incentives and the need for industry upgrades, particularly among leading companies on the Sci-Tech Innovation Board [1][2][3] - The Sci-Tech Innovation Board has seen the accumulation of 125 companies in the integrated circuit field, covering essential areas such as design, manufacturing, and testing, as well as supporting sectors like equipment and materials [1] - Notable transactions among leading firms like SMIC and Hua Hong are progressing steadily, indicating a shift in the Chinese semiconductor industry from quantity accumulation to qualitative leaps, reflecting the strategic goal of becoming globally competitive [1] Group 2 - Recent terminations of some semiconductor M&A transactions have raised market concerns, but this is viewed as a natural outcome of a more rational market approach rather than a cooling of industry consolidation [2] - Since the release of the "Eight Articles" policy, over 150 M&A transactions have been disclosed on the Sci-Tech Innovation Board, with more than 70% successfully completed, while a number of others are actively progressing [2] - The innovative mechanisms introduced by the Sci-Tech Innovation Board, such as differentiated valuations and multi-payment tools, have facilitated complex industry integrations, removing institutional barriers for companies [2] Group 3 - The current phase of industry consolidation is characterized by optimizing resource allocation in the new productivity sector, rather than mere scale accumulation, and is crucial for nurturing leading "chain master" enterprises [3]

Group 1 - The semiconductor industry has become a hotbed for mergers and acquisitions, with 206 related events reported since the announcement of the "merger six rules" last September, averaging one event every two days, including 16 major asset restructurings [1][2] - However, since December, there has been a noticeable slowdown in A-share semiconductor mergers, with several companies, including Haiguang Information and SIRUI, announcing the termination of significant asset restructuring plans [1][5] - Cross-industry mergers are increasingly common, with companies from different sectors, such as outdoor brands and retail, entering the semiconductor space to diversify and seek new growth opportunities [1][8] Group 2 - The semiconductor sector is viewed as the foundation of digitalization and intelligence, making it a focal point for global competition and resource allocation [2][10] - Mergers and acquisitions are seen as essential for companies to overcome technological barriers and expand market share, necessitating clear industry judgment and effective post-merger integration capabilities [2][9] - Recent statistics indicate that 11 semiconductor-related merger announcements were made in early December alone, covering various fields such as semiconductor equipment and chip design [4] Group 3 - Notable recent mergers include the acquisition of a 49% stake in Zhuhai Noah Changtian Storage Technology by Puran Co., which aims to enhance its non-volatile storage product layout [4] - Conversely, several companies, including Haiguang Information and Chipone, have terminated their merger plans due to disagreements on core transaction terms and market conditions [5][7] - Industry experts suggest that the current trend of merger terminations is normal, as various factors influence negotiations, and future opportunities for mergers may still arise [7][12] Group 4 - The end-of-year surge in semiconductor mergers is attributed to a combination of capital market dynamics, policy support, and industry growth, with over 20 companies currently pursuing IPOs in the semiconductor sector [10][11] - The semiconductor industry is characterized by high research and development risks and significant capital requirements, making cross-industry mergers particularly challenging for traditional companies [12]

Group 1 - Several recent mergers and acquisitions in the A-share semiconductor sector have been halted, raising market concerns [1] - DiAo Micro announced the termination of its acquisition of Rongpai Semiconductor due to failure to reach consensus on key terms [1] - SiRuPu decided to terminate its acquisition of Ningbo Aola Semiconductor as the conditions for major asset restructuring were not fully mature [1] Group 2 - The majority of terminated transactions involve small and medium-sized private listed companies, primarily focusing on significant cash or share transactions [2] - The core issues leading to transaction terminations are the inability to agree on key terms and changes in market conditions that render transaction conditions immature [2] - The success rate of mergers and acquisitions in the Sci-Tech Innovation Board is over 70%, indicating that a certain percentage of terminated transactions may be a normal aspect of market-driven mergers [2] Group 3 - The high activity level in the semiconductor industry and the complexity of shareholder structures contribute to increased negotiation difficulties in mergers and acquisitions [3] - Market demand fluctuations and changes in the market environment have made companies more cautious in pursuing acquisitions to avoid operational risks [3] Group 4 - To protect investor interests, regulations have been established to enhance information disclosure and communication regarding terminated restructurings [4] - Companies that terminate restructurings have been proactive in disclosing reasons and potential impacts, often holding investor meetings to address market concerns [4] - Following the termination of restructurings, related companies' stock prices have seen an approximate decline of 4%, reflecting a stable market response without significant irrational fluctuations [4] Group 5 - The China Securities Regulatory Commission has proposed regulations to standardize merger and acquisition behaviors and clarify the responsibilities of financial advisors [5] - In 2024, regulatory authorities addressed 35 cases of insider trading related to mergers and acquisitions, demonstrating a strict regulatory approach [5] - The regulatory environment emphasizes a "zero tolerance" policy towards fraudulent activities in mergers and acquisitions, aiming to protect the rights of small investors [5]