Investment Rating - The report initiates coverage with a "Buy" rating for the company, highlighting its strong competitive position in the high-performance MEMS inertial sensor market [2][8]. Core Insights - The company is a leading domestic player in high-performance MEMS inertial sensors, having developed a comprehensive product line that includes gyroscopes, accelerometers, pressure sensors, and IMUs, achieving core performance metrics at an internationally advanced level [7][19]. - The MEMS market is expanding, with the company actively exploring diverse high-potential applications, including autonomous driving and low-altitude aviation, which are expected to drive significant revenue growth [7][10]. - The company's robust technical capabilities and stable shareholder structure provide a solid foundation for sustained growth, with projected net profits of 330 million, 470 million, and 656 million yuan for 2025 to 2027, respectively [6][8]. Financial Data and Profit Forecast - Total revenue is forecasted to grow from 405 million yuan in 2024 to 1.2 billion yuan by 2027, with a compound annual growth rate (CAGR) of 38.8% [6]. - The net profit attributable to shareholders is expected to increase from 222 million yuan in 2024 to 656 million yuan in 2027, reflecting a CAGR of 39.6% [6]. - The company maintains a high gross margin of around 85%, with a projected return on equity (ROE) increasing from 9.6% in 2024 to 19.5% by 2027 [6][41]. Market Position and Competitive Advantages - The company has established significant technical barriers, enabling it to break the overseas monopoly in high-performance MEMS gyroscopes and accelerometers, which are now being adopted in various high-reliability applications [7][10]. - The product lines are designed to meet the needs of multiple sectors, including consumer electronics, automotive, industrial, and aerospace, with a focus on high-potential scenarios that are expected to drive growth [7][10]. - The company’s strategic partnerships and investments in new market segments, such as OCS, further enhance its competitive positioning and growth prospects [7][10].

Group 1 - The Shanghai Composite Index closed at 3958.00 points, above the annual line, with a change of 0.43% [1] - The total trading volume of A-shares reached 1552.045 billion yuan [1] - A total of 131 A-shares have surpassed the annual line, with notable stocks including Xusheng Group, Chongqing Port, and *ST Zhisheng showing significant deviation rates of 8.27%, 8.15%, and 4.95% respectively [1] Group 2 - Stocks with the highest deviation rates from the annual line include: - Xusheng Group (10.01% increase, 8.74% turnover rate, latest price 15.38 yuan, deviation rate 8.27%) - Chongqing Port (10.02% increase, 2.26% turnover rate, latest price 5.82 yuan, deviation rate 8.15%) - *ST Zhisheng (4.98% increase, 3.86% turnover rate, latest price 11.60 yuan, deviation rate 4.95%) [1] - Other stocks with smaller deviation rates that have just crossed the annual line include Hu塑股份, Hu鑫股份, and Heng申新材 [1]

Group 1 - The A-share market saw a majority of semiconductor stocks rise, with Zhenlei Technology increasing by over 16% [1] - Hengshuo Co. experienced a rise of over 14% [1] - Fudan Microelectronics and Chengdu Huami both rose by over 13% [1] Group 2 - Changchuan Technology increased by nearly 9% [1] - Jingfeng Mingyuan saw an increase of over 7% [1] - Beijing Junzheng and Hongwei Technology both rose by over 6% [1] Group 3 - Juxin Technology increased by over 5% [1] - Hangyu Micro, Ruichuang Weina, Xindong Linke, Yandong Micro, and Yuanjie Technology all rose by over 4% [1]

Core Viewpoint - The company emphasizes that commercial aerospace is a significant downstream application area, focusing on high-performance MEMS inertial sensors, including MEMS gyroscopes and MEMS accelerometers, which are essential for satellite navigation, attitude control, and orbit determination systems [1] Group 1 - The company is actively engaged in the commercial aerospace sector, which is a key area for its business development [1] - The core products of the company in this sector include MEMS gyroscopes and MEMS accelerometers [1] - There is a growing demand for miniaturized and highly reliable inertial devices due to the acceleration of low Earth orbit satellite constellation construction and commercial aerospace launch schedules [1] Group 2 - The company is expected to benefit from the industry's growth driven by the increasing demand for its products in commercial aerospace applications [1] - Investors are encouraged to refer to the company's disclosed information and periodic reports for specific customer details [1]

Core Viewpoint - The company identifies commercial aerospace as one of its significant downstream application areas and anticipates benefiting from the accelerated development in this sector [1] Group 1: Company Products and Applications - The company primarily engages in high-performance MEMS inertial sensor business for commercial aerospace, with core products including MEMS gyroscopes and MEMS accelerometers [1] - These products are applicable in satellite navigation, attitude control, and orbit determination systems [1] Group 2: Market Trends and Opportunities - The demand for miniaturized and highly reliable inertial devices is expected to increase as the construction of low Earth orbit satellite constellations and the pace of commercial aerospace launches accelerate [1] - The company is positioned to benefit from the industry's growth due to these trends [1] Group 3: Customer Engagement - Specific customer information can be found in the company's disclosed information and periodic reports [1]

证券时报·数据宝统计显示，芯动联科今日收盘价为62.82元，下跌0.54%，日换手率为3.40%，成交额为 5.29亿元，全天主力资金净流出1998.88万元，近5日该股累计上涨5.54%，近5日资金合计净流入260.62 万元。 两融数据显示，该股最新融资余额为10.40亿元，近5日增加5078.22万元，增幅为5.13%。（数据宝） 12月17日芯动联科大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 5.08 | 319.13 | 62.82 | 0.00 | 中信证券股份有限公司 | 招商证券股份有限公司北 | | | | | | 总部(非营业场所) | 京景辉街证券营业部 | （文章来源：证券时报网） 芯动联科12月17日大宗交易平台出现一笔成交，成交量5.08万股，成交金额319.13万元，大宗交易成交 价为62.82元。该笔交易的买方营业部为中信证券股份有限公 ...

12月17日，芯动联科大宗交易成交5.08万股，成交额319.13万元，占当日总成交额的0.6%，成交价62.82 元，较市场收盘价62.82元持平。 | 交易日期 证券简称 | | 证券代码 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 025-12-17 | 芯动联科 | 688582 | 62.82 319.13 公司管家材料免费 | 5.08 | 器曾是家餐飲品證 | | ка | ...

● 股东持股的基本情况 本次股份减持计划实施前，安徽芯动联科微系统股份有限公司（简称"公司"）股东北方电子研究院有限 公司（简称"电子院"）持有公司11,978,687股股份，占当时公司总股本的2.9893%；安徽北方微电子研究 院集团有限公司（简称"微电子院"）持有公司56,000,000股股份，占当时公司总股本的13.9750%。 股东减持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： 证券代码：688582 证券简称：芯动联科 公告编号：2025-059 安徽芯动联科微系统股份有限公司 上述股份均为公司首次公开发行股票并上市前取得的股份，已于2024年7月1日解除限售并上市流通。 2024年8月20日，电子院与微电子院签署了《股份无偿划转协议》，电子院将持有的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。 一、减持主体减持前基本情况 ■ 上述减持主体存在一致行动人： ■ 注：上表中"持有比例"以2025年8月27日公司披露《安徽 ...

证券代码：688582 证券简称：芯动联科 公告编号：2025-059 安徽芯动联科微系统股份有限公司 股东减持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： 股东持股的基本情况 本次股份减持计划实施前，安徽芯动联科微系统股份有限公司（简称"公司"） 股东北方电子研究院有限公司（简称"电子院"）持有公司 11,978,687 股股份， 占当时公司总股本的 2.9893%；安徽北方微电子研究院集团有限公司（简称"微 电子院"）持有公司 56,000,000 股股份，占当时公司总股本的 13.9750%。 上述股份均为公司首次公开发行股票并上市前取得的股份，已于 2024 年 7 月 1 日解除限售并上市流通。2024 年 8 月 20 日，电子院与微电子院签署了《股 份无偿划转协议》，电子院将持有的 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。 减持计划的实施结果情况 公司于 2025 年 8 月 27 日在上海证券交易所网站（w ...

南财智讯12月16日电，芯动联科公告，公司股东北方电子研究院有限公司（简称"电子院"）和安徽北方 微电子研究院集团有限公司（简称"微电子院"）减持计划时间区间届满，已实施完毕。截至公告披露 日，电子院通过集中竞价方式减持1,021,215股，占公司总股本的0.2542%；微电子院通过集中竞价方式 减持2,003,578股，占公司总股本的0.4987%。两位一致行动人合计减持3,024,793股，累计减持比例为 0.75%。本次减持价格区间分别为77.00元至82.78元/股和53.95元至80.20元/股，减持总金额合计约2.12亿 元。减持后，电子院持股比例由2.9893%降至2.7275%，微电子院持股比例由13.9750%降至13.4407%。 本次实际减持情况与此前披露的减持计划一致，未违反相关承诺。 ...