Core Viewpoint - The Shanghai Xinxiangwei Electronics Co., Ltd. has approved the 2025 Restricted Stock Incentive Plan and has publicly disclosed the list of proposed incentive recipients, ensuring compliance with relevant laws and regulations [1][5]. Disclosure and Verification - The company publicly disclosed the draft of the 2025 Restricted Stock Incentive Plan and related documents on the Shanghai Stock Exchange website on November 4, 2025 [1]. - From November 4 to November 13, 2025, the company announced the names and positions of the proposed incentive recipients internally, allowing employees to provide feedback [2]. - No objections were raised by employees regarding the proposed incentive recipients by the end of the public notice period [3]. Verification Process - The Board's Compensation and Assessment Committee verified the proposed recipients' qualifications, including their identity documents and employment contracts [4]. - The committee confirmed that all proposed recipients meet the qualifications stipulated by relevant laws and the company's articles of association [5]. - The proposed recipients do not fall under any disqualifying conditions as outlined in the management regulations [6][7]. Recipient Details - The proposed recipients include directors, senior management, core technical personnel, and key employees deemed necessary for incentives, including the actual controller Peter Hong Xiao and his associate Zhou Jian [7]. - The list excludes immediate family members of major shareholders and independent directors [7].

证券代码：688593 证券简称：新相微 公告编号：2025-081 上海新相微电子股份有限公司 董事会薪酬与考核委员会关于公司2025年限制性股票激励 计划激励对象名单的核查意见及公示情况说明 本公司董事会薪酬与考核委员会及全体委员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。 公司于2025年11月4日至2025年11月13日通过公司钉钉内部公告对本次拟激 励对象的姓名和职务进行了公示，公示期间共计10天，公司员工可通过书面方式 或邮件方式向公司董事会薪酬与考核委员会反馈意见。 截至公示期满，公司董事会薪酬与考核委员会未收到任何员工对本次激励计 划拟激励对象提出的异议。 （二）董事会薪酬与考核委员会对拟激励对象的核查方式 公司董事会薪酬与考核委员会核查了本次拟激励对象的名单、身份证件、拟 激励对象与公司（含分公司及子公司）签订的劳动合同或聘用合同或劳务合同、 拟激励对象在公司（含分公司及子公司）担任的职务及其任职情况等。 二、董事会薪酬与考核委员会核查意见 根据《管理办法》《公司章程》及公司对拟激励对象名单及职务的公示情况， 并结合董事会 ...

Core Viewpoint - The major shareholder, Kexin (Hong Kong) Co., Ltd., has completed a share reduction plan, decreasing its stake in Shanghai Xinxiang Microelectronics Co., Ltd. from 6.23% to 5.23% through the sale of 4,595,294 shares, which is 1% of the total share capital [2][5]. Group 1: Shareholder Information - Before the reduction plan, Kexin held 28,619,320 shares, representing 6.23% of the total share capital of the company [1]. - After the completion of the reduction plan, Kexin now holds 24,024,026 shares, which is 5.23% of the total share capital [2]. Group 2: Reduction Plan Implementation - The reduction plan was disclosed on September 30, 2025, with a maximum reduction of 4,595,294 shares [2]. - As of November 12, 2025, Kexin successfully reduced its holdings by the planned amount, confirming that the actual reduction matched the previously disclosed plan [5]. - The reduction was executed through a centralized bidding process, and the plan was completed without any early termination [4][5].

Core Points - The company, Shanghai Xinxiangwei Electronics Co., Ltd., announced a share reduction plan by its shareholder, Kexin Chip (Hong Kong) Co., Ltd. [2] - Before the implementation of the reduction plan, Kexin Chip held 28,619,320 shares, accounting for 6.23% of the company's total share capital [2] - As of November 12, 2025, Kexin Chip has reduced its holdings by 4,595,294 shares, which is 1% of the total share capital, completing the reduction plan [2] - After the reduction, Kexin Chip holds 24,024,026 shares, representing 5.23% of the total share capital [2]

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。 证券代码：688593 证券简称：新相微 公告编号：2025-080 上海新相微电子股份有限公司 持股 5%以上股东减持股份结果公告 重要内容提示： 大股东持股的基本情况 本次减持计划实施前，上海新相微电子股份有限公司（以下简称"公司" 或"新相微"）股东科宏芯(香港)有限公司（以下简称"科宏芯"）持有公司股份 28,619,320 股（占本公司总股本比例 6.23%）。上述股份来源于公司首次公开发 行前取得。 减持计划的实施结果情况 公司于 2025 年 9 月 30 日披露在上海证券交易所网站的《新相微持股 5%以 上股东减持股份计划公告》（公告编号：2025-066）。科宏芯基于自身资金需求， 拟通过集中竞价方式减持所持有的公司股票，减持数量不超过 459.5294 万股， 即不超过公司总股本的 1%。 公司于 2025 年 11 月 12 日收到科宏芯出具的《持股 5%以上股东减持股份结 果告知函》，截至 2025 年 11 月 12 日，科宏芯通过集中竞 ...

Market Performance - The Sci-Tech Innovation Board (STAR Market) index fell by 0.57%, closing at 1407.56 points, with a total trading volume of 4.379 billion shares and a turnover of 203.38 billion yuan [1] - Among the tradable stocks on the STAR Market, 332 stocks closed higher, with 8 stocks hitting the daily limit up, while 252 stocks closed lower, including 1 stock with a decline exceeding 10% [1] Trading Activity - The highest turnover rates were observed in He Yuan Biological, which closed down by 1.54% with a turnover rate of 23.03%, and Wanrun New Energy, which closed down by 0.81% with a turnover rate of 21.13% [1][3] - A total of 36 stocks with high turnover rates experienced net inflows of main funds, with the highest net inflows recorded for Purun Co., Shen Gong Co., and Shijia Photon, amounting to 214 million yuan, 171 million yuan, and 132 million yuan respectively [2] Sector Analysis - In terms of industry distribution, the electronics sector had the most stocks with a turnover rate exceeding 5%, totaling 23 stocks, followed by the power equipment and computer sectors with 15 and 9 stocks respectively [2] - The stocks with the highest turnover rates also showed significant variations in net fund flows, with some experiencing substantial net outflows, such as Guo Dun Quantum and Hua Hong Company, with net outflows of 543 million yuan and 342 million yuan respectively [2] Notable Stocks - Key stocks with notable performance included: - He Yuan Biological (688765): Closed at 93.50 yuan, down 1.54%, with a turnover rate of 23.03% and a net outflow of 67.69 million yuan [3] - Wanrun New Energy (688275): Closed at 90.77 yuan, down 0.81%, with a turnover rate of 21.13% and a net outflow of 40.22 million yuan [3] - Yingfang Software (688435): Closed at 54.89 yuan, up 14.28%, with a turnover rate of 19.78% and a net inflow of 36.17 million yuan [3]

上海新相微电子股份有限公司 2025 年第一次临时股东会会议资料 证券代码：688593 证券简称：新相微 上海新相微电子股份有限公司 2025 年第一次临时股东会 会议资料 2025 年 11 月 上海新相微电子股份有限公司 2025 年第一次临时股东会会议资料 目 录 | 2025 | 年第一次临时股东会会议须知 | 1 | | --- | --- | --- | | 2025 | 年第一次临时股东会会议议程 | 3 | | 2025 | 年第一次临时股东会会议议案 | 5 | | | 议案一 关于对外投资暨关联交易的议案 5 | | | | 议案二 关于修订公司部分治理制度的议案 10 | | | | 议案三 关于公司《2025 年限制性股票激励计划（草案）》及其摘要的议案 11 | | | | 议案四 关于公司《2025 年限制性股票激励计划实施考核管理办法》的议案 | 12 | | | 议案五 关于提请股东会授权董事会办理公司 年限制性股票激励计划有关事项的 2025 | | | | 议案 13 | | | | 议案六 关于终止部分募投项目并将节余募集资金永久补充流动资金的议案 | 15 | 上海新 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][8]. Core Insights - The company reported a revenue of 436 million yuan for the first three quarters of 2025, representing a year-on-year growth of 27.21%. The net profit attributable to the parent company was 8 million yuan, showing a significant increase of 138.88% year-on-year [2][3]. - In Q3 2025, the company achieved a revenue of 151 million yuan, which is a 34.93% increase year-on-year and an 11.72% increase quarter-on-quarter. However, the net profit for Q3 decreased by 59.80% year-on-year and 16.33% quarter-on-quarter [3]. - The fourth quarter is expected to see further growth due to seasonal demand in the consumer electronics sector and the upcoming small-scale shipments of new OLED products [3]. - The company is expanding its OLED product applications, particularly in wearable devices and automotive sectors, which are anticipated to contribute to revenue growth in the coming years [4]. Financial Projections - Revenue projections for 2025, 2026, and 2027 are estimated at 640 million yuan, 1 billion yuan, and 1.47 billion yuan, respectively. The net profit attributable to the parent company is projected to be 10 million yuan, 100 million yuan, and 150 million yuan for the same years [5][7]. - The company is expected to experience significant growth in net profit, with a forecasted increase of 689.81% in 2026 compared to 2025 [7][14]. Relative Valuation - The company is positioned as one of the more comprehensive display driver chip design firms in China, with a focus on TFT-LCD and AMOLED display driver chips. The report highlights the potential for significant revenue growth as the company increases its market share in the mobile and automotive sectors [12][13].

Core Viewpoint - New Silicon Microelectronics (688593.SH) announced a share reduction by a major shareholder, Kexin Hong Kong Co., Ltd., which has decreased its stake from 6.23% to 6.00% [1] Summary by Relevant Sections - **Shareholder Activity** - Kexin Hong Kong Co., Ltd. reduced its holdings by 1,047,600 shares through centralized bidding from October 29 to November 4, 2025, representing 0.2280% of the total share capital [1]

Group 1 - The core point of the news is that Xinxiangwei (SH 688593) has announced that as of the date of the announcement, KHHK Holdings Limited has pledged a total of 8 million shares, accounting for 29.02% of its holdings [1] - As of the report date, Xinxiangwei's market capitalization is 10 billion yuan [3] - For the year 2024, Xinxiangwei's revenue composition is entirely from integrated circuits, with a 100.0% share [2] Group 2 - The industry is experiencing a significant increase in overseas orders, with a surge of 246%, covering over 50 countries and regions [3] - Entrepreneurs have raised concerns about some companies selling products at a loss, warning of potential vicious competition expanding to overseas markets [3]