单位：人民币元 | | 项目 | 计提金额 | | --- | --- | --- | | 信用减值损失 | 应收账款坏账损失 | -71.62 | | | 其他应收款坏账损失 | -13,453.20 | | 信用减值损失小计 | | -13,524.82 | | 资产减值损失 | 存货跌价损失 | -10,677,029.92 | | 资产减值损失小计 | | -10,677,029.92 | | | 合计 | -10,690,554.74 | 注：转回以负数列示。 证券代码：688591 证券简称：泰凌微 公告编号：2025-048 泰凌微电子（上海）股份有限公司 关于 2025 年前三季度转回资产减值准备的公告 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。 一、本次转回减值准备情况概述 泰凌微电子（上海）股份有限公司（以下简称"公司"）依据《企业会计准则》 以及公司相关会计政策、会计估计的规定，为真实、公允地反映公司截至 2025 年 9 月 30 日的财务状况及 2025 年前三季度的经营情况，对合并范围内的相 ...

泰凌微电子（上海）股份有限公司 2025 年第三季度报告 证券代码：688591 证券简称：泰凌微 泰凌微电子（上海）股份有限公司 2025 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期 | 末比上年同期 | | | | 减变动幅度 | 末 | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 262,869,989.32 | 18.57 | 766,359,739.87 | 30.49 | | 利润总额 | 37,510,186.14 | 2.05 | 137,784,151.03 | 120.82 | | 归属于上市公司 ...

泰凌微发布2025年第三季度报告，前三季度实现营业收入7.66亿元，同比增长30.49%；归属于上市公司 股东的净利润为1.40亿元，同比增长117.35%。第三季度实现营业收入2.63亿元，同比增长18.57%；归 属于上市公司股东的净利润为3861.46万元，同比增长3.56%。 ...

Group 1 - The core point of the article is that TaiLing Microelectronics plans to acquire 100% equity of Shanghai Panqi Microelectronics through a combination of issuing shares and cash payment, with ongoing due diligence, auditing, and evaluation processes [1][3] - As of October 24, 2025, TaiLing Microelectronics' stock closed at 49.56 yuan, up 5.42%, with a turnover rate of 6.96%, trading volume of 117,200 shares, and a transaction amount of 574 million yuan [1] - On the same day, the net outflow of funds from major investors was 19.21 million yuan, while retail investors saw a net inflow of 43.89 million yuan [1][3] Group 2 - The valuation and transaction price for the acquisition have not yet been determined, and the transaction is expected not to constitute a related party transaction, major asset restructuring, or restructuring listing [1] - The company’s stock was suspended from trading from August 25, 2025, and resumed on September 1, 2025, with the transaction proposal and related documents disclosed on August 30, 2025 [1] - The transaction is subject to approval from the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission, indicating uncertainty regarding its approval and implementation [1]

Policy - The Ministry of Science and Technology emphasizes the need to strengthen the top-level design and systematic deployment of artificial intelligence during the 14th Five-Year Plan, focusing on developing new model algorithms and high-performance computing chips [1] - The Fourth Plenary Session of the Central Committee highlights the importance of cultivating and expanding emerging and future industries, aiming to build a modern industrial system and strengthen the foundation of the real economy [1] Industry Growth - In Shanghai, the manufacturing output of the three leading industries increased by 8.5% year-on-year in the first three quarters, with artificial intelligence manufacturing growing by 12.8% [2] - The total output value of strategic emerging industries in Shanghai's manufacturing sector rose by 7.3%, with the new energy industry growing by 19.6% [2] Regional Initiatives - Guangdong Province has launched an action plan to support high-quality development in manufacturing through artificial intelligence, including the establishment of an industrial model evaluation system and financial support for enterprises [3] - Zhejiang Province aims for over 90% penetration of intelligent applications by 2030, with plans to develop leading intelligent platforms and high-value scenarios [3] IPO and Financing - Domestic GPU manufacturer Muxi Co., Ltd. has received approval for its IPO, aiming to raise 3.904 billion yuan for various AI-related projects [5] - Robotics company Leju Robotics completed a 1.5 billion yuan Pre-IPO financing round, with plans for an upcoming IPO [5] - New Stone Technology announced over 600 million USD in Series D financing, led by UAE-based investors [6] - Eagle Semiconductor completed over 700 million yuan in Series B+ financing, setting a record for VCSEL startups in China [7] - Jiushi Intelligent raised 100 million USD in Series B4 financing, led by Ant Group [8] - Zhongzhi Keyi completed over 100 million yuan in Series A financing, focusing on fast imaging technology [9] - Renxin Technology raised over 100 million yuan in Series A+ financing for automotive chip production [10] - Suzhou Xien Technology completed several hundred million yuan in Pre-A+ financing, focusing on servo systems and chips [11] Market Movements - Hu Silicon Industry announced plans for a share reduction of up to 2% by its largest shareholder, the National Integrated Circuit Industry Investment Fund [12] - Tailin Micro plans to reduce its shares by up to 2% due to operational needs [13] - Lixin Micro's major shareholder intends to reduce its stake by up to 3% [14] - Yandong Micro reported a 1% reduction in shares by the National Integrated Circuit Fund [15] - Cambrian announced a specific issuance of shares to raise approximately 3.985 billion yuan [16] - Shunwei Storage is accelerating the expansion of its advanced packaging and testing center to enhance competitiveness [16]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688591 证券简称：泰凌微 公告编号：2025-047 根据上海证券交易所有关规定，经申请，公司证券（证券品种：A股股票，证券简称：泰凌微，证券代 码：688591）于2025年8月25日开市起停牌。具体内容详见公司于2025年8月23日在上海证券交易所网站 披露的《关于筹划发行股份及支付现金购买资产事项的停牌公告》（公告编号：2025-036）。 2025年8月29日，公司第二届董事会第十四次会议审议通过了《关于〈泰凌微电子（上海）股份有限公 司发行股份及支付现金购买资产并募集配套资金预案〉及其摘要的议案》等与本次交易相关的议案，具 体内容详见公司披露的相关公告。 根据相关规定，经向上海证券交易所申请，公司股票于2025年9月1日开市起复牌。具体内容详见公司于 2025年8月30日在上海证券交易所网站披露的《关于披露发行股份及支付现金购买资产并募集配套资金 预案的一般风险提示暨公司股票复牌的公告》（公告编号：2025-039）。 2025年9月27日，公司披露了《关于发行股份及支付现金方式购买资产并募集配套资金事项的进展公 告》（公告编号：20 ...

Investment Rating - The report maintains an investment rating of "Outperform" with a target price for key stocks such as 688099 (Jingchen Co.) at 97.1 and 688591 (Tailin Micro) at 66.95, both rated as "Buy" [5]. Core Insights - The report highlights that 2026 may be a breakthrough year for AI at the edge, with AIoT expected to lead the industry. Major companies like Apple, OpenAI, and Meta are already positioning themselves in this space, indicating a strong potential for explosive growth in AI-enabled consumer electronics [1][13]. - The semiconductor industry is anticipated to experience a resonance of inventory and innovation cycles in 2026, driven by the gradual rollout of AI terminal products, which will enhance both supply and demand dynamics [2]. - The System on Chip (SoC) sector is set to benefit significantly from the rise of AI terminals, with higher computational power and performance driving systematic growth opportunities. Leading firms in the SoC space are expected to capture excess growth returns during this industry transition [3]. Summary by Sections 1. AI Edge Breakthrough Year - AI at the edge is projected to see rapid growth in 2026, with AIoT leading the charge. The market is witnessing a shift from concept to large-scale commercialization, driven by urgent monetization needs from downstream manufacturers [1][14]. - Major players like Apple are transitioning to an "AI platform ecosystem" approach, enhancing their product offerings and user experiences through AI integration [15][18]. 2. Semiconductor Cycle - The semiconductor industry is expected to experience a dual cycle of inventory adjustment and innovation, with a historical pattern of approximately 60 months for major cycles and 2-3 years for smaller cycles [2]. - The current inventory situation is shifting from passive destocking to proactive restocking, indicating a positive outlook for the semiconductor market [2][19]. 3. SoC Sector - The SoC sector is positioned for significant growth, with AI terminals driving both performance and valuation increases. Leading companies are expected to leverage their technological advancements and customer relationships to achieve superior growth [3][27]. - The report emphasizes a structural growth cycle in the semiconductor and SoC industries, characterized by a clear delineation of opportunities and market dynamics [3]. 4. Investment Recommendations - The report suggests focusing on specific companies within the SoC sector, including Tailin Micro, Jingchen Co., and others in the consumer electronics and storage sectors, indicating a diversified investment approach [4].

证券代码：688591 证券简称：泰凌微 公告编号：2025-047 泰凌微电子(上海)股份有限公司 关于发行股份及支付现金方式购买资产并募集配套资 金事项的进展公告 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、准确性和完整性承担法律责任。 一、本次交易的基本情况 泰凌微电子（上海）股份有限公司（以下简称"公司"）拟通过发行股份及 支付现金方式购买上海磐启微电子有限公司 100%的股权并募集配套资金（以下 简称"本次交易"）。 本次交易标的资产的估值及交易价格尚未确定，预计不构成关联交易，不构 成重大资产重组，不构成重组上市。具体内容详见公司于 2025 年 8 月 30 日在上 海证券交易所网站披露的《泰凌微电子（上海）股份有限公司发行股份及支付现 金购买资产并募集配套资金预案》等文件。 二、本次交易的历史信息披露情况 根据上海证券交易所有关规定，经申请，公司证券（证券品种：A 股股票， 证券简称：泰凌微，证券代码：688591）于 2025 年 8 月 25 日开市起停牌。具体 内容详见公司于 2025 年 8 月 23 日在上海证券交易所网站披露 ...

Group 1 - The company, TaiLing Microelectronics (688591.SH), has announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global development strategy and brand influence [1] - The company is currently discussing specific details of the H-share listing with relevant intermediaries, and the actual implementation is subject to approval from various regulatory bodies [1] - The H-share listing is expected to optimize the company's capital structure and broaden financing channels, although there is significant uncertainty regarding its approval and execution [1] Group 2 - The National Integrated Circuit Fund plans to reduce its stake in TaiLing Microelectronics by up to 4.8149 million shares, representing 2% of the total share capital, between November 13, 2025, and February 12, 2026 [2] - As of October 22, 2023, the fund initially held 21.4884 million shares, or 8.95% of the total, and has already reduced its holdings by 4.8 million shares, realizing approximately 18.5 million yuan [2][3] - The company has also announced a plan to acquire 100% of Shanghai Panqi Microelectronics Co., with projected revenues and net profits showing a decline over the past three years [3] Group 3 - TaiLing Microelectronics was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 25, 2023, with an initial public offering of 60 million shares at a price of 24.98 yuan per share [4] - The total amount raised from the IPO was approximately 149.88 million yuan, with a net amount of 135.81 million yuan after deducting issuance costs, exceeding the initial plan by 3.45 million yuan [5] - The funds raised are intended for various technology upgrade projects and research and development initiatives [5][6]

Core Insights - The semiconductor sector experienced a decline of 0.9% on October 23, with Dazhi Semiconductor leading the drop [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Semiconductor Sector Performance - Notable gainers included: - Xidian Co., Ltd. (301629) with a closing price of 214.12, up 13.09% and a trading volume of 37,700 [1] - Jiangbolong (301308) closed at 190.19, up 5.12% with a trading volume of 213,000 [1] - Pudian Co., Ltd. (688766) closed at 119.06, up 4.44% with a trading volume of 85,400 [1] - Major decliners included: - Dazhi Semiconductor (688691) closed at 134.00, down 11.41% with a trading volume of 116,800 [2] - Jinhaitong (603061) closed at 132.20, down 5.10% with a trading volume of 16,800 [2] - Tailin Micro (688591) closed at 47.01, down 4.70% with a trading volume of 115,900 [2] Capital Flow Analysis - The semiconductor sector saw a net outflow of 2.971 billion yuan from institutional investors, while retail investors contributed a net inflow of 2.597 billion yuan [2][3] - Notable capital flows included: - Demingli (001309) with a net inflow of 631 million yuan from institutional investors [3] - Jiangbolong (301308) had a net inflow of 263 million yuan from institutional investors [3] - Zhongke Lanyun (688332) experienced a net inflow of 56.43 million yuan from institutional investors [3]