证券代码：688591 证券简称：泰凌微 公告编号：2025-004 泰凌微电子（上海）股份有限公司 首次公开发行部分限售股上市流通公告 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： 本次股票上市类型为首发限售股份；股票认购方式为网下，上 市股数为 2,062,260 股。 根据《泰凌微电子（上海）股份有限公司首次公开发行股票并在科创板上市 招股说明书》及《泰凌微首次公开发行股票科创板上市公告书》，本次申请股份 解除限售的股东金立洵关于其持有的限售股的有关承诺如下： "就发行人提交首次公开发行股票并上市申请前 12 个月内本人自发行人原股 东李须真处受让取得的发行人股份，自取得之日起三十六个月内，不转让或者委 托他人管理该部分股份，也不由发行人回购该部分股份。 本次股票上市流通总数为 2,062,260 股。 本次股票上市流通日期为 2025 年 2 月 13 日。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会出具的《关于同意泰凌微电子（上海）股份有 限公司首次公开发行股票注册的批复》（证监许 ...

国投证券股份有限公司（以下简称"国投证券"或"保荐机构"）作为泰凌 微电子（上海）股份有限公司（以下简称"泰凌微"或"公司"）首次公开发行 股票并在科创板上市项目的保荐机构，根据《证券发行上市保荐业务管理办法》 《上海证券交易所科创板股票上市规则》《上海证券交易所科创板上市公司自律 监管指引第 1 号——规范运作》等有关法律法规和规范性文件的要求，对泰凌微 首次公开发行部分限售股上市流通事项进行了核查，发表核查意见如下： 一、首次公开发行股票情况及本次上市流通的限售股类型 根据中国证券监督管理委员会出具的《关于同意泰凌微电子（上海）股份有 限公司首次公开发行股票注册的批复》（证监许可〔2023〕1450 号），公司获准 首次向社会公众公开发行人民币普通股 6,000 万股，并于 2023 年 8 月 25 日在上 海证券交易所科创板上市，发行后总股本为 24,000 万股，其中有限售条件流通 股为 187,954,832 股，无限售条件流通股为 52,045,168 股。具体情况详见公司 2023 年 8 月 22 日刊登在上海证券交易所网站（www.sse.com.cn）的《泰凌微电子（上 海）股份有限公司 ...

Investment Rating - The report maintains a "Buy" rating for TaiLing Microelectronics (688591) [4] Core Views - The company is expected to achieve a revenue of approximately 844 million yuan in 2024, representing a year-on-year increase of about 33%, and a net profit attributable to shareholders of around 97.43 million yuan, reflecting a year-on-year growth of approximately 95% [2][4] - There is a recovery in downstream demand, with overseas major clients starting to ramp up shipments, leading to rapid growth in overseas business. The company has seen stable growth in traditional markets such as smart home and smart retail, while also expanding into new sectors like healthcare and energy-saving [3] - The company places significant emphasis on R&D, with R&D expenses increasing by about 27%, accounting for approximately 26% of total revenue. New products like the TL721x and TL751x series enhance edge AI computing capabilities and are expected to enter mass production by mid-2025 [3] Financial Forecasts - The company is projected to achieve revenues of 844 million yuan, 1.1 billion yuan, and 1.5 billion yuan for the years 2024, 2025, and 2026, respectively. The net profits attributable to shareholders are expected to be 97.43 million yuan, 182.49 million yuan, and 299.60 million yuan for the same years [4][6] - The EBITDA is forecasted to be 64.80 million yuan in 2024, increasing to 147.67 million yuan in 2025 and 264.01 million yuan in 2026 [6] - The earnings per share (EPS) is expected to rise from 0.41 yuan in 2024 to 1.25 yuan in 2026 [6]

Investment Rating - The report maintains a "Recommended" rating for the company [5][7]. Core Views - The company is expected to achieve significant revenue growth in 2024, with projected revenue of 844 million yuan, a 33% increase year-on-year, and a net profit of 97 million yuan, representing a 95% increase [1]. - The company has successfully expanded its overseas customer base, leading to high growth in both revenue and gross profit, with a projected gross margin of 48.30% for 2024, up 4.80 percentage points year-on-year [2]. - New product launches and applications are expected to open up growth opportunities, particularly in the audio chip segment, which is projected to grow over 60% year-on-year [3]. - The introduction of edge AI chips and a development platform marks the company's entry into the edge AI market, enhancing its product offerings and market potential [4]. Summary by Sections Financial Performance - The company forecasts a total revenue of 844 million yuan for 2024, with a growth rate of 32.7% [6]. - The projected net profit for 2024 is 97 million yuan, reflecting a growth rate of 95% [6]. - The gross margin is expected to reach 48.30% in 2024, the highest since 2021 [2]. Product Development - The company has launched new edge AI chips and a machine learning platform, integrating AI capabilities into smart home and audio products [4]. - The audio chip business has shown remarkable growth, with sales expected to increase by over 60% compared to 2023 [3]. Market Expansion - The company has made significant strides in expanding its overseas market presence, contributing to increased revenue and profit [2]. - It is actively exploring new vertical markets, including healthcare and energy-saving sectors, to diversify its revenue streams [3].

Investment Rating - The investment rating for the company is upgraded to "Buy" [5] Core Views - The company is expected to achieve a revenue of approximately 844 million yuan in 2024, representing a year-on-year increase of about 33% [1] - The net profit attributable to the parent company is projected to be around 97 million yuan, reflecting a significant year-on-year increase of approximately 95% [1] - The company has launched new products, TL721X and TL751X, which are expected to enhance growth in the edge AI era [3] Revenue and Profit Forecast - Revenue forecasts for 2024-2026 have been adjusted to 844 million yuan, 1.115 billion yuan, and 1.466 billion yuan respectively, up from previous estimates [4] - The net profit forecasts for the same period have been revised to 97 million yuan, 171 million yuan, and 309 million yuan respectively [4] Financial Performance - The company has shown a consistent increase in quarterly revenue, with Q4 2024 expected to reach approximately 257 million yuan, a 16% increase from Q3 2024 [2] - The gross profit margin has been improving, with reported margins of 44.14%, 46.18%, and 47.90% for the first three quarters of 2024 [2] Product Development - The TL721X chip is noted for its ultra-low power consumption, achieving a working current as low as 1mA, and is positioned to meet the demands of high-performance IoT devices [3] - The TL751X chip features high performance and multi-protocol capabilities, targeting applications in smart audio, smart home, and wearable devices [3]

Financial Projections - The company expects to achieve an annual revenue of approximately 844 million yuan in 2024, representing an increase of about 208 million yuan or 33% compared to the previous year[3] - The projected net profit attributable to the parent company for 2024 is around 97 million yuan, an increase of approximately 47.23 million yuan or 95% year-on-year[3] - The net profit attributable to the parent company after deducting non-recurring gains and losses is estimated to be about 91 million yuan, reflecting a significant increase of approximately 68.09 million yuan or 297% compared to the previous year[3] Profitability and Margins - The company's gross profit margin is expected to reach approximately 48.3%, an increase of about 4.8 percentage points from 2023, marking the highest level since 2021[6] Sales and Market Performance - The company has seen a 60% increase in sales for its audio chip business compared to the same period last year[6] - The company has successfully expanded its overseas market, with overseas sales contributing a larger share of revenue compared to the previous year[6] - The company has achieved stable growth in traditional markets such as smart home and smart retail while making significant progress in new verticals like healthcare and energy-saving[6] Research and Development - R&D expenses are projected to grow by about 27% compared to 2023, accounting for approximately 26% of the total annual revenue[6] - The company has launched multiple new products during the reporting period, enhancing product competitiveness and expanding market share[6] Supply Chain Management - The company has maintained a strong focus on supply chain management, contributing to the overall improvement in gross profit margin[6]

证券代码：688591 证券简称：泰凌微 公告编号：2025-002 泰凌微电子（上海）股份有限公司 持股 5%以上股东减持股份计划公告 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： 持股 5%以上股东持股的基本情况 截至本公告披露日，泰凌微电子（上海）股份有限公司（以下简称"公司"） 持股 5%以上股东国家集成电路产业投资基金股份有限公司(以下简称"国家大基 金") 持有公司股份 21,488,400 股，占公司总股本比例为 8.95%。 | 股东名称 | 计划减持 | 计划减持 | | | 减持合 | 拟减持 | | 拟减 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 数量（股） | 比例 | 减持方式 | 减持期间 | 理价格 | 股份来 | | 持原 | | | | | | | 区间 | 源 | | 因 | | 国家集成电 | 不超过： | 不超过： | 竞价交易减持，不 | 2025/2/17 | 按市场 ...

国投证券股份有限公司 关于泰凌微电子（上海）股份有限公司 2024 年度持续督导现场检查报告 （一）公司治理和内部控制情况、三会运作情况 现场检查人员查阅了泰凌微的公司章程、股东会、董事会和监事会的议事规 则以及其他的内部控制制度；查看了股东会、董事会和监事会的会议文件、决议， 核对了公司相关公告；与公司高级管理人员进行了访谈。 经核查，保荐机构认为：本持续督导期内，公司章程和公司治理制度完备、 合规，相关制度得到有效执行；公司章程以及董事会、监事会和股东会的议事规 1 则能够有效执行，公司治理机制能够有效发挥作用；公司已经建立了内部审计制 度和内部控制制度，内部控制制度得到有效执行；公司"三会"的通知、召开及 表决程序合法合规，会议记录完整，会议资料保存完好；公司董事、监事和高级 管理人员能够按照相关法律、法规和上海证券交易所相关业务规则要求履行职责。 （二）信息披露情况 现场检查人员查阅了泰凌微的信息披露制度以及已披露的公告和相关资料， 对其是否符合信息披露制度、披露内容是否真实、准确和完整进行了核查。 国投证券股份有限公司（以下简称"国投证券"或"保荐机构"）作为泰凌 微电子（上海）股份有限公司（以下简 ...

Group 1: Company Overview - The company focuses on the Internet of Things (IoT) wireless connection chip sector, with a comprehensive product line covering mainstream wireless technologies globally [7] - The company ranks first in domestic low-power Bluetooth chip shipments and is among the top three globally [7] - The company has a strong presence in the Zigbee chip market, being the largest supplier in China [7] Group 2: Financial Performance - Revenue has steadily increased over the past two years, with Q1-Q3 2023 revenue reaching 587 million RMB and net profit exceeding 64 million RMB, representing over 70% year-on-year growth [7] - Gross margin has improved from 41.27% in 2022 to 43.5% in 2023, and further to 47.9% in Q1-Q3 2023 [7] - R&D investment has consistently exceeded 25% in both 2023 and 2024 [7] Group 3: Market Opportunities - The IoT market is still in its early stages, with significant growth potential ahead [7] - The company is expanding its overseas market presence, with competitors generating annual sales of 1.5 to 2 billion USD, while the company’s overseas performance is rapidly growing [7] - The launch of edge AI development platforms and new AI chip products opens new market opportunities [10] Group 4: Product Development - The company has introduced new chips supporting edge AI capabilities, targeting applications requiring both wireless connectivity and local AI processing [14] - The new chips can handle AI functions such as voice recognition and image analysis, supporting models with parameter counts in the hundreds of thousands to millions [8] - Upcoming products in the audio sector will include innovations in smart headphones and multi-party intercom systems, enhancing user experience with low latency and high sound quality [15] Group 5: Strategic Partnerships - The company collaborates with major global firms like Google, Amazon, and Nvidia, providing chips and software for various applications [9] - Ongoing projects with domestic and international large model companies are expected to yield significant results by 2025 [11] Group 6: Future Outlook - The company anticipates continued growth in sales and profits, driven by existing IoT business and new opportunities in edge AI and audio markets [16] - The company is well-positioned to leverage its leading status in the Matter protocol for smart home applications, expecting strong growth in the coming years [16]