电子院计划自公告披露之日起15个交易日后的3个月内，即2025年9月17日至2025年12月16日，根据市场 情况通过集中竞价或大宗交易的方式减持其所持有的公司股份，合计不超过2,003,578股，不超过公司当 前总股本的0.5%，拟减持股份来源于IPO前取得。 登录新浪财经APP 搜索【信披】查看更多考评等级 近日，安徽芯动联科微系统股份有限公司（简称"芯动联科"）发布股东减持股份计划公告，股东北方电 子研究院有限公司（简称"电子院"）与安徽北方微电子研究院集团有限公司（简称"微电子院"）基于自 身资金需求，计划减持公司股份。 减持主体情况 截至公告披露日，电子院持有芯动联科11,978,687股股份，占公司总股本的2.9893%；微电子院持有公 司56,000,000股股份，占公司总股本的13.9750%。二者所持股份均为公司首次公开发行股票并上市前取 得，已于2024年7月1日解除限售并上市流通。2024年8月20日，电子院还曾将持有的56,000,000股无限售 流通股通过非公开协议转让方式无偿划转 给微电子院。电子院与微电子院受同一控制人中国兵器工业 集团有限公司控制，为一致行动关系，合计持股67, ...

Company Overview - ChipMotion Technology Co., Ltd. is located in Haidian District, Beijing, and was established on July 30, 2012. The company went public on June 30, 2023. Its main business involves the research, testing, and sales of high-performance silicon-based MEMS inertial sensors [1]. Financial Performance - As of June 30, 2025, ChipMotion achieved a revenue of 253 million yuan, representing a year-on-year growth of 84.34%. The net profit attributable to shareholders was 154 million yuan, showing a significant increase of 173.37% year-on-year [2]. - The company has distributed a total of 165 million yuan in dividends since its A-share listing [3]. Stock Performance - On September 10, the stock price of ChipMotion increased by 2.01%, reaching 74.65 yuan per share, with a total market capitalization of 29.913 billion yuan. The stock has risen by 49.04% year-to-date, with a recent decline of 1.97% over the last five trading days [1]. - The company had 15,200 shareholders as of June 30, 2025, an increase of 7.95% from the previous period. The average number of circulating shares per shareholder decreased by 6.49% to 16,353 shares [2]. Shareholder Composition - As of June 30, 2025, the top ten circulating shareholders included the Harvest SSE STAR Market Chip ETF, which held 4.7584 million shares, an increase of 1.3018 million shares from the previous period. The Southern CSI 500 ETF entered as a new shareholder with 3.0273 million shares [3]. Business Segmentation - The main revenue sources for ChipMotion include MEMS gyroscopes (87.41%), MEMS accelerometers (6.22%), inertial measurement units (5.76%), technical services (0.25%), pressure sensors (0.22%), and other sources (0.14%) [1].

格隆汇9月8日丨芯动联科(688582.SH)在投资者互动平台表示，公司惯性传感器、IMU等核心产品在技 术指标上能够满足人形机器人对于姿态控制、运动检测等方面的需求。当前，公司主要客户和业务仍集 中在高可靠、高端工业、无人系统及车规级等相对成熟的市场领域，这些应用场景对产品需求明确且已 进入批量供货阶段。 人形机器人虽然市场关注度高，但整体仍处于产业化早期，商业化路径和客户需 求尚在培育过程中。公司目前正在研发的六轴IMU芯片正是瞄准的机器人及智能驾驶等市场，公司将持 续关注行业发展动态，并结合自身产能、研发和市场拓展节奏，择机与相关企业展开合作。 ...

Group 1 - The humanoid robot market is currently in its early industrialization stage, with commercial pathways and customer demands still being cultivated [1] - The company is developing a six-axis IMU chip aimed at the robotics and intelligent driving markets [1] - The company will continue to monitor industry developments and will consider partnerships with relevant enterprises based on its production capacity, R&D, and market expansion pace [1]

Investment Rating - The report indicates a positive outlook for the thermal management materials industry, driven by strong downstream market demand and technological advancements [3][21]. Core Insights - The thermal management materials industry is experiencing sustained growth due to increasing demand from downstream sectors such as consumer electronics, automotive electronics, and data centers. The global thermal management market is projected to grow at a compound annual growth rate (CAGR) of 8.5%, increasing from $17.3 billion in 2023 to $26.1 billion by 2028 [3][21]. - The penetration rates of heat pipes and vapor chambers are continuously rising, with local procurement becoming a significant trend as domestic companies mature technologically [3][21]. Summary by Sections 1. Industry Demand and Growth - The global demand for thermal management materials is on the rise, with a forecasted market size growth from $17.3 billion in 2023 to $26.1 billion by 2028, reflecting a CAGR of 8.5% [3][21]. - The shift towards high-performance, miniaturized, and integrated electronic products is intensifying the need for effective thermal management solutions [3][21]. 2. Market Segmentation - Heat pipes and vapor chambers are becoming mainstream solutions in high-end smartphones, with market sizes expected to reach $3.776 billion and $1.197 billion respectively by 2025, with CAGRs of 6.17% and 14.20% [15][18]. - The thermal interface materials market is projected to grow from $5.2 billion in 2019 to $7.6 billion by 2026, with a CAGR of 5.57% [16][19]. 3. Local Procurement Trends - Local procurement is becoming a dominant trend in the thermal management materials industry, driven by supply chain security concerns among domestic electronic brands [35][36]. - Domestic companies like Suzhou Tianmai and Zhongshi Technology are expected to benefit from this trend as they enhance their technological capabilities [35][36]. 4. Key Beneficiaries - Suzhou Tianmai is highlighted as a key player in the industry, having established itself early in the ultra-thin heat pipe and vapor chamber market, achieving significant production scale and client certifications [4][35].

Core Viewpoint - The report outlines the independent financial advisory opinion on the fairness and reasonableness of the initial grant of restricted stock under the 2025 incentive plan for Anhui Xindong Link Technology Co., Ltd, confirming that the necessary approvals and authorizations have been obtained for the stock grant [1][11]. Summary by Sections Independent Financial Advisor's Declaration - The independent financial advisor confirms that the report is based on documents provided by the company, which are guaranteed to be legal, truthful, accurate, complete, and timely [2][3]. Approval Process for the Incentive Plan - The 2025 restricted stock incentive plan has undergone necessary approval procedures, including meetings of the board of directors and supervisory board, where relevant proposals were passed [4][6]. Initial Grant Details - The initial grant of restricted stock occurred on September 5, 2025, with a total of 2.9577 million shares granted to 129 individuals at a price of 56.89 yuan per share [7][10]. Vesting Conditions and Schedule - The vesting period for the granted shares is structured over a maximum of 60 months, with specific trading days designated for vesting, and restrictions on transfer or use as collateral before vesting [9][10]. Impact on Financial Status and Performance - The independent financial advisor recommends that the company account for the costs associated with the stock incentive plan in accordance with relevant accounting standards, noting potential dilution effects on shareholders [10][11].

Core Viewpoint - The legal opinion letter issued by Grandway Law Offices confirms that Anhui Xindong Link Micro System Co., Ltd. has complied with all necessary legal procedures for the implementation of its 2025 Restricted Stock Incentive Plan, including the approval and authorization for the initial grant of restricted stocks [1][3][9] Group 1: Approval and Authorization - The company has completed the required legal procedures for the initial grant of restricted stocks, including approvals from the board of directors, supervisory board, and shareholders' meeting [3][4] - The board's remuneration and assessment committee has provided verification opinions on the incentive plan and the list of recipients [4][5] - The relevant directors recused themselves from voting on the incentive plan to ensure compliance with regulations [5][6] Group 2: Details of the Grant - The initial grant date for the restricted stocks is set for September 5, 2025, following the approval of the shareholders' meeting [6][8] - A total of 295.77 million shares will be granted to 129 eligible recipients at a price of 56.89 yuan per share [6][8] - The grant price meets the legal requirements, being above the stipulated thresholds based on historical trading averages [8] Group 3: Grant Conditions - The grant of restricted stocks is contingent upon the company not experiencing any adverse conditions, such as negative audit opinions or significant financial issues [9] - The recipients must also not be subject to any disqualifying circumstances, ensuring compliance with the incentive plan's conditions [9] Group 4: Conclusion - The legal opinion concludes that the grant of restricted stocks adheres to all relevant laws, regulations, and the provisions of the incentive plan [9]

Group 1 - The company has implemented a restricted stock incentive plan, with a total of 320 million shares allocated, representing 100% of the plan [1] - Among the total shares, 295.77 million shares (92.43%) are granted to directors, senior management, and core technical personnel, while 24.23 million shares (7.57%) are reserved for future grants [1] - The total number of shares granted to any individual under the incentive plan does not exceed 1% of the company's total share capital, and the total shares involved in the plan do not exceed 20% of the company's total share capital [1][2] Group 2 - The reserved equity proportion does not exceed 20% of the total equity to be granted under the incentive plan [2] - The company will disclose relevant information about the incentive objects in a timely and accurate manner after obtaining opinions from the remuneration and assessment committee and legal counsel [2]

Core Viewpoint - The company has approved a stock incentive plan, granting 2.9577 million restricted shares to 129 eligible participants at a price of 56.89 yuan per share, representing 0.74% of the total share capital as of the announcement date [1][12]. Summary by Sections Stock Grant Details - The first grant date for the restricted stock is set for September 5, 2025, with a total of 2.9577 million shares to be awarded [1][12]. - The stock incentive plan is classified as a second category of restricted stock [1]. Decision-Making Process - The decision to grant the restricted stock has undergone the necessary approval processes, including reviews by the board's remuneration and assessment committee [1][2]. - The plan aligns with the previously approved stock incentive plan by the company's second extraordinary general meeting in 2025 [3]. Eligibility and Conditions - The grant conditions have been met, with the company confirming that it has not faced any disqualifying events in the past year [4][5]. - The eligible participants include directors, senior management, and core technical personnel, excluding independent directors and major shareholders [11][12]. Vesting Schedule - The restricted stock will vest over a maximum period of 60 months, with specific vesting periods outlined [6][8]. - The vesting schedule includes multiple phases, with the first vesting occurring 12 months after the grant date [7][8]. Accounting and Financial Impact - The company will use the Black-Scholes model to determine the fair value of the restricted stock for accounting purposes [13]. - The estimated total expense for the stock grant will be amortized over the vesting period, impacting the company's net profit during the effective period [14]. Legal and Advisory Opinions - Legal opinions confirm that the stock incentive plan complies with relevant laws and regulations [15]. - An independent financial advisor has also validated the plan's adherence to legal requirements and the appropriateness of the grant details [15].

Core Viewpoint - The company conducted a self-examination regarding insider trading related to its 2025 Restricted Stock Incentive Plan, confirming that no insider trading occurred among the identified insiders during the specified period [1][4]. Group 1: Self-Examination Process - The company held meetings on August 15, 2025, to review and approve the draft of the 2025 Restricted Stock Incentive Plan and disclosed relevant announcements on August 19, 2025 [1]. - The self-examination was conducted in accordance with the relevant laws and regulations, including the Management Measures for Equity Incentives of Listed Companies and the Shanghai Stock Exchange's rules [1]. Group 2: Trading Activities of Insiders - During the self-examination period, key executives, including the general manager and other senior management, sold a total of 2,900,000 shares due to personal financial needs, with specific reductions of 1,200,000 shares by the general manager and 1,600,000 shares by a vice president [2]. - These transactions were conducted according to previously disclosed reduction plans and did not involve insider information, thus not constituting insider trading [2]. Group 3: Conclusion of the Self-Examination - The company confirmed that all trading activities by insiders complied with the relevant regulations, and no insider trading or leakage of insider information related to the incentive plan was found [3][4]. - The examination included documentation from China Securities Depository and Clearing Corporation, which verified the trading activities of the insiders [4].