上海君澜律师事务所 关于 深圳市力合微电子股份有限公司 2023 年限制性股票激励计划调整及作废相关事项 之 法律意见书 二〇二五年十二月 上海君澜律师事务所 法律意见书 上海君澜律师事务所 关于深圳市力合微电子股份有限公司 2023 年限制性股票激励计划调整及作废相关事项之 法律意见书 （三）本所仅就公司本次调整及作废的相关法律事项发表意见，而不对公 司本次调整及作废所涉及的标的股权价值、考核标准等方面的合理性以及会计、 审计等专业事项发表意见，本所及经办律师不具备对该等专业事项进行核查和 作出判断的合法资格。本所及经办律师在本法律意见书中对与该等专业事项有 关的报表、数据或对会计报告、审计报告等专业报告内容的引用，不意味着本 所及经办律师对这些引用内容的真实性、有效性做出任何明示或默示的保证。 本法律意见书仅供本次调整及作废之目的使用，不得用作任何其他目的。 本所律师同意将本法律意见书作为力合微本次调整及作废所必备的法律文 件，随其他材料一同向公众披露，并依法对所出具的法律意见承担责任。 致：深圳市力合微电子股份有限公司 上海君澜律师事务所（以下简称"本所"）接受深圳市力合微电子股份有 限公司（以下简称" ...

使用部分闲置募集资金进行现金管理的核查意见 中信证券股份有限公司 关于深圳市力合微电子股份有限公司 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意深圳市 力合微电子股份有限公司首次公开发行股票注册的批复》（证监许可〔2020〕1272 号）同意，并经上海证券交易所同意，公司首次公开发行人民币普通股（A股） 2,700万股，募集资金总额为人民币48,357.00万元，扣除发行费用人民币5,801.84 万元（不含增值税），募集资金净额为人民币42,555.16万元。前次募集资金已于 2020年7月17日全部到位，天健会计师事务所（特殊普通合伙）2020年7月17日对 资金到位情况进行了审验，并出具了《验资报告》（天健验〔2020〕3-58号）。 公司依照规定对募集资金采取了专户存储管理，并与保荐机构、募集资金专户监 管银行签订了募集资金三方/四方监管协议。 （二）向不特定对象发行可转换公司债券募集资金情况（以下简称"本次发行"） 经中国证监会《关于同意深圳市力合微电子股份有限公司向不特定对象发行 可转换公司债券注册的批复》（证监许可〔2023〕1070号）的同意，公司2023 年6月28日发行了面 ...

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。 深圳市力合微电子股份有限公司（以下简称"公司"）于2025年12月30日召 开第四届董事会第二十六次（临时）会议，审议通过了《关于使用部分闲置募集 资金及自有资金进行现金管理的议案》，同意公司及子公司在保证不影响公司募 集资金投资计划正常进行的前提下，使用不超过人民币4亿元（含本数）闲置募集 资金、最高不超过人民币6亿元（含本数）的闲置自有资金进行现金管理，使用期 限为2026年1月1日至2026年12月31日（不超过12个月），在前述额度及期限范围 内，可循环滚动使用。董事会授权公司总经理在上述额度及决议有效期内行使投 资决策权、签署相关文件等事宜，包括但不限于：选择合格的专业金融机构、明 确现金管理金额、期间、选择产品/业务品种、签署合同及协议等。该议案已经第 四届董事会独立董事专门会议第五次会议审议通过，保荐机构中信证券股份有限 公司（以下简称"中信证券"）对本次事项出具了无异议的核查意见。本次事项 无需提交股东会审议。具体情况公告如下： 一、募集资金基本情况 | 证券 ...

深圳市力合微电子股份有限公司 第四届董事会第二十六次（临时）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 深圳市力合微电子股份有限公司（以下简称"公司")第四届董事会第二十 六次（临时）会议通知于 2025 年 12 月 26 日以邮件方式发出，会议于 2025 年 12 月 30 日在深圳市南山区高新技术产业园清华信息港科研楼 11 楼 1101 公司会 议室以现场结合通讯的方式召开。会议应出席的董事 9 人，实际出席的董事 9 人。本次董事会由董事长 LIU KUN 先生主持，公司董事会秘书列席会议，本次 会议的召集、召开符合有关法律、行政法规、部门规章、规范性文件及《公司章 程》的规定。 二、董事会会议审议情况 | 证券代码：688589 | 证券简称：力合微 | 公告编号：2025-061 | | --- | --- | --- | | 转债代码：118036 | 转债简称：力合转债 | | 根据公司《2023 年限制性股票激励计划（草案修订稿）》规定，鉴于该激励 计划部分原 ...

Core Viewpoint - The company announced its intention to utilize idle raised funds for cash management to enhance fund efficiency and returns [1] Fundraising and Financial Management - The company previously raised a net amount of 426 million yuan from its initial public offering [1] - The current issuance of convertible bonds is expected to raise a net amount of 371 million yuan [1] - The company and its subsidiaries plan to use no more than 400 million yuan of idle raised funds for cash management, with a usage period from January 1, 2026, to December 31, 2026 [1] Investment Strategy - The investment products selected for cash management are characterized by high safety, good liquidity, and capital protection agreements [1] - The proposal has been approved by the board of directors and the independent directors' special meeting, with no objections from the sponsoring institution [1]

Core Insights - The domestic GPU industry is poised for historic development opportunities by 2025, driven by technological breakthroughs and a growing ecosystem, reflecting strong market recognition of domestic "hard technology" [1][2] - The rapid development of domestic GPUs not only supports cutting-edge industries like artificial intelligence but also enhances supply chain security, contributing to high-quality economic development [1] Industry Development - The demand for computing power has surged due to the global rise of AI models, with China accelerating the construction of robust computing infrastructure [2] - By 2025, major tech companies in China, including Alibaba, Tencent, and ByteDance, are expected to invest approximately 450 billion yuan in AI computing power, with 30% allocated for domestic chip validation and adaptation [2] - The domestic GPU industry is transitioning from technological exploration to commercialization and scaling, with leading companies innovating architectures and integrating ecosystems to catch up with international giants [2][3] Technological Innovations - Domestic GPU manufacturers are striving to capture market share through technological innovation and differentiation strategies, with some companies achieving significant breakthroughs [3] - The introduction of supernodes as core computing units in intelligent computing centers is a key focus, with Huawei showcasing its Ascend 384 supernode, achieving a total computing power of 300 PFLOPS, surpassing international competitors [3] Market Dynamics - The emergence of open-source domestic models like DeepSeek is driving explosive growth in AI applications, with future demand for inference computing power expected to be significantly higher than training power [4] - The domestic GPU sector faces challenges in general computing and high-performance scenarios due to technological gaps and ecological barriers, particularly in comparison to NVIDIA's established CUDA ecosystem [5] Ecosystem Development - To address ecological shortcomings, domestic companies are exploring paths such as chiplet technology, collaboration with model manufacturers, and enhancing software ecosystems [5][6] - Strategic collaborations among companies like Wallen Technology, Jiyue Star, and Shanghai Yidian Smart Computing aim to create a comprehensive ecosystem for domestic chips, models, and computing power [6] Capital Market Trends - The domestic GPU industry is experiencing a notable IPO boom, with significant fundraising activities, including the record-setting IPO of Moore Threads on the STAR Market [7][8] - The market's enthusiasm for domestic AI chip companies is fueled by high valuations of international competitors like NVIDIA and AMD, alongside the successful turnaround of companies like Cambricon [8] - Analysts highlight that the accelerated IPO processes reflect strong market recognition of the domestic GPU sector, with funds raised primarily aimed at R&D and ecosystem development [8]

Core Insights - The PLC "Matter Bridge" product from Lihai Microelectronics has won the "Top 10 Most Attention-Grabbing Smart Home Products of the Year" award at the 2025 Smart Home Market Innovation Conference, highlighting its innovative connectivity capabilities and market value [1][1][1] - The award signifies the recognition of Lihai Microelectronics' PLC technology in the smart home application space and its leadership position in the industry [1][1][1] Industry Analysis - The smart home industry is currently facing challenges such as protocol fragmentation and ecological barriers, with interoperability among different brand devices being a key bottleneck for industry upgrades [1][1] - The Matter protocol, developed by major tech giants like Apple, Google, and Amazon, is seen as a core solution to overcome ecological isolation, with 2025 being a critical year for its reliability breakthroughs and large-scale applications [1][1] - The PLC Matter Bridge is designed to connect PLCP smart devices with the Matter network, enabling seamless integration with major Matter ecosystems like Apple HomeKit and Samsung SmartThings, thus facilitating deep integration of PLC technology with the Matter protocol [1][1][1] Future Outlook - The recognition of the PLC Matter Bridge not only reflects the success of a single product but also indicates the widespread acceptance of PLC technology in cross-ecosystem connectivity [1][1] - As the Matter protocol accelerates in popularity, devices with cross-ecosystem connectivity capabilities are expected to drive the smart home industry from fragmentation to integration, enhancing consumer experiences [1][1] - The company is poised to benefit from the trend of interconnected devices, leveraging its smart home and whole-home intelligence as a new growth driver [1][1]

消息面上，彭博社周一发文称，中国芯片技术发展迅速，有望在2026年或2027年迎来"DeepSeek时刻"，对英伟达及其供应链产生颠覆性影响。 12月22日，三大指数集体高开，芯片产业链多股拉升，存储和上游半导体设备板块表现活跃。半导体设备ETF（561980）高开拉涨3.60%，成交额迅速突破 1.5亿；成分股珂玛科技封涨停板，京仪装备涨超10%，上海新阳、长川科技、联动科技、中科飞测、立昂微等多股涨超8%。 | 证券代码 | 证券名称 | 年内最大上涨(%) | 年内涨跌幅(%) | | --- | --- | --- | --- | | 931865. CSI | 中证半导 | 80. 39 | 54. 82 | | 931743. CSI | 半导体材料设备 | 68. 13 | 47. 70 | | 980017. SZ | 国证芯片 | 71. 64 | 35. 67 | | 990001. CSI | 中华半导体芯片 | 73.01 | 37. 58 | | H30184. CSI | 半导体 | 73.78 | 39. 02 | | H30007.CSI | 芯片产业 | 72. 29 | 3 ...

Core Insights - The recent Xiaomi "Human-Vehicle-Home Ecosystem" partner conference showcased Xiaomi's progress in various sectors, including its IoT and ecosystem business, with Lihua Microelectronics participating as a key PLC chip manufacturer [1] Group 1: Company Developments - Lihua Microelectronics focuses on PLC technology and chip development, demonstrating its HCOA-PLC module through the Mijia smart home platform, which is based on the high-performance LME4015B chip [1] - The company's PLC chip solution marks a milestone after successfully integrating with other ecosystems like Honor, Matter/Apple HomeKit, and Haier, indicating industry recognition of its technology [1] - Lihua Microelectronics is dedicated to IoT communication and connection, continuously launching competitive chips and solutions for applications in smart grids, smart homes, photovoltaic new energy, and more [1] Group 2: Market Trends and Performance - Lihua Microelectronics attracted interest from multiple institutional investors, particularly regarding its expansion in non-grid sectors like smart homes [2] - In the first three quarters of the year, the company's non-electric IoT revenue grew by 30% compared to the previous year, driven by its efforts in consumer IoT applications [2] - The PLC technology is becoming a mainstream communication method in IoT, especially in smart grids and smart homes, due to its advantage of not requiring additional wiring [2] - The company collaborates with leading firms like Tmall Genie, Honor, and Haier to promote its PLCMesh technology within their ecosystems [2] - Future plans include increasing R&D investment, advancing chip product iterations, and deepening partnerships within the industry to expand PLC technology applications [2]

Core Viewpoint - Zhongbao Investment has established itself as a significant player in the long-term investment and patient capital sector in China, managing over 450 billion yuan in assets and focusing on supporting national development strategies through a new strategic plan [2][4][8]. Group 1: Company Overview - Zhongbao Investment was founded in December 2015 in Shanghai and serves as the manager and general partner of the China Insurance Investment Fund [2]. - The company has developed a diverse product toolbox characterized by "equity + debt + mezzanine" investments, emphasizing its role in the domestic long-term investment landscape [2]. Group 2: Strategic Initiatives - In December 2024, Zhongbao Investment collaborated with Xinhua Insurance and Zhonghui Life to establish the Zhijixin Fund, investing approximately 2.037 billion yuan to acquire shares in the Shanghai Integrated Circuit Industry Investment Fund, marking the largest single S fund transaction in China that year [3]. - The company raised 20 billion yuan to invest in Shanghai Real Estate Group to support urban renewal projects, benefiting nearly 60,000 residents [3]. - Zhongbao Investment has supported major infrastructure projects and technology enterprises, with cumulative cooperation scale reaching 48 billion yuan in overseas port projects [3][4]. Group 3: Competitive Advantages - The company has established four core competitive advantages: 1. Strong brand influence in the asset management industry [4]. 2. Unique integration capabilities due to its regulatory background, acting as a bridge between government and market [4]. 3. Diverse product innovation, offering customized financial solutions across various sectors [4]. 4. Agile decision-making structure that enhances responsiveness to market changes [5]. Group 4: Investment Philosophy - Zhongbao Investment emphasizes the importance of long-term, rational, and value-based investments, avoiding short-term speculation [6]. - The company is actively investing in key sectors such as integrated circuits, renewable energy, and biomedicine, supporting leading technology firms to address critical challenges [6][7]. Group 5: Future Development Strategy - The company plans to implement a new strategic framework of "One Foundation, Two Industries, Three Comprehensives, and Four Transformations" to enhance its asset management capabilities and international presence [8]. - Zhongbao Investment aims to expand its international asset allocation to meet the growing demands of Chinese enterprises going global [8].