Core Insights - The social security fund has disclosed its stock holdings for the third quarter, appearing in the top ten circulating shareholders of 20 stocks, with 9 new entries and 4 increases in holdings [1][2] Group 1: Stock Holdings - The total number of shares held by the social security fund in the 20 stocks is 68.2952 million, with a total market value of 4.237 billion yuan [1] - New entries include Sanyou Medical, Dongwei Technology, and Lexin Technology, with significant holdings [1] - The stocks with the highest number of social security fund shareholders include Yingxi Network, Nanwei Medical, Zhongwang Software, and Zhuoyi Information, with holdings of 7.934 million, 6.269 million, 3.809 million, and 2.337 million shares respectively [1] Group 2: Shareholding Ratios - The stock with the highest shareholding ratio by the social security fund is Haitai Xinguang, at 4.20%, followed by Nanwei Medical at 3.34% [2] - The largest number of shares held is in Yingxi Network, with 7.934 million shares, followed closely by Sanyou Medical and Nanwei Medical with 7.9145 million and 6.2692 million shares respectively [2] - The stocks with the highest market value held by the social security fund include Nanwei Medical, Lexin Technology, and Bochu Electronics, valued at 629 million, 598 million, and 542 million yuan respectively [2] Group 3: Performance Metrics - Among the stocks held by the social security fund, 15 reported year-on-year net profit growth in the first three quarters, with Sanyou Medical showing the highest increase of 623.19% [2] - Other notable net profit growth includes Shen Gong Co. and Xinxiang Micro, with increases of 158.93% and 138.88% respectively [2] - The social security fund's holdings are primarily concentrated in the electronics, computer, and power equipment industries, with 5, 4, and 3 stocks respectively [2] Group 4: Market Performance - The average decline of the stocks held by the social security fund since October is 3.32% [3] - The best-performing stock is Puyuan Precision, with a cumulative increase of 6.18%, followed by Maide Medical and Yingshi Innovation with increases of 4.89% and 4.22% respectively [3] - The stock with the largest decline is Lexin Technology, which has dropped by 13.80% [3]

Core Insights - Shanghai Xinxiang Microelectronics Co., Ltd. reported strong financial performance for the first three quarters of 2025, with revenue of 436 million yuan, a year-on-year increase of 27.21%, and a net profit attributable to shareholders of 8.18 million yuan, up 138.88% [1] Financial Performance - The company achieved a quarterly revenue of 151 million yuan in Q3, reflecting a year-on-year growth of 34.93%, and a non-recurring net profit of 1.13 million yuan, which is a significant increase of 262.17% [2] - R&D investment reached 52.4 million yuan in the first three quarters, marking a 23.83% increase, with R&D expenses accounting for 12.01% of revenue [3] Product Development and Market Position - Xinxiang Micro has expanded its product matrix to include a full range of display chip products, covering both integrated and separated types, which cater to various display technologies such as TFT-LCD, AMOLED, and MicroLED [2] - The company is well-positioned in the AMOLED and MicroLED high-end chip sectors, with expectations for AMOLED display driver chips to become a major growth driver, increasing its market share from 15.6% in 2024 to 23.6% by 2029 [3] Strategic Initiatives - The company is actively pursuing opportunities in the artificial intelligence sector, planning to invest 100 million yuan in Beijing Electronic Smart Technology Co., Ltd., which focuses on AI computing power and services [4] - By integrating its display chip expertise with AI capabilities, Xinxiang Micro aims to develop comprehensive solutions for emerging applications, fostering a collaborative ecosystem that enhances business growth and shareholder value [4] Market Outlook - Analysts suggest that the increasing importance of AI in global technology competition will lead to significant investments in AI infrastructure and applications, presenting major opportunities for sectors like domestic computing power and AI chips [5]

Summary of Key Points Core Viewpoint - Shanghai Xinxiang Microelectronics Co., Ltd. has fully repaid the temporarily used idle raised funds for working capital as of October 23, 2025 [1]. Group 1: Fundraising and Usage - The company held meetings on February 10, 2025, where it approved the use of up to RMB 100 million of idle raised funds to temporarily supplement working capital, ensuring that this would not affect the normal implementation of fundraising investment projects [1]. - The funds were intended for business expansion and daily operations related to the main business, with a usage period not exceeding 12 months from the board's approval date [1]. Group 2: Repayment of Funds - During the period of using the idle raised funds, the company adhered to relevant laws and regulations, and as of October 23, 2025, it has repaid a total of RMB 77.0869 million to the special account for raised funds ahead of schedule [1]. - The company has notified its continuous supervision institution and sponsor representative about the repayment of the funds [1].

Core Viewpoint - The company has conducted impairment testing on its credit and assets to fairly reflect its financial status as of September 30, 2025, and the operating results for the first three quarters of 2025 [2] Financial Summary - The company recognized an asset impairment loss of 6,357,526.37 RMB for the period from January to September 2025 [2] - The company reversed credit impairment losses amounting to 2,182,779.64 RMB [2] - The total provision for asset impairment amounted to 4,174,746.73 RMB [2]

Core Insights - Shanghai Xinxiang Microelectronics Co., Ltd. reported significant revenue growth in Q3 2025, achieving 151 million yuan, a year-on-year increase of 34.93% [1] - The net profit attributable to shareholders for Q3 was 2.73 million yuan, with a non-recurring net profit of 1.13 million yuan [1] - For the first three quarters of the year, the company recorded a total revenue of 436 million yuan, up 27.21% year-on-year, and a net profit of 8.18 million yuan, reflecting a substantial increase of 138.88% [1] Revenue and Profit Analysis - The significant revenue growth in Q3 was attributed to product category expansion, increased market share, and higher sales volume [1] - The non-recurring net profit saw a remarkable increase of 262.17% year-on-year, driven by higher revenue and increased gross profit [1] Research and Development Investment - Xinxiang Microelectronics increased its R&D investment to 52.4 million yuan in the first three quarters, marking a year-on-year growth of 23.83% [1] - R&D expenditure accounted for 12.01% of the total revenue, indicating a strong commitment to innovation and development [1] Company Overview - Xinxiang Microelectronics specializes in the research, design, and sales of integrated circuit products, primarily focusing on display chip products [1] - The company is recognized as one of the first in mainland China to achieve large-scale production of display chips, establishing a comprehensive industrial ecosystem advantage in the display chip design field [1]

Core Viewpoint - The company Xinxiangwei (688593.SH) reported significant growth in revenue and net profit for the first three quarters of 2025, indicating strong operational performance and potential for future investment opportunities [1] Financial Performance - The company achieved a revenue of 436 million yuan, representing a year-on-year increase of 27.21% [1] - The net profit attributable to shareholders reached 8.18 million yuan, showing a substantial year-on-year growth of 138.88% [1] - Basic earnings per share were reported at 0.018 yuan [1]

Group 1 - The company Xinxiangwei (SH 688593) announced on October 24 that it has recognized an asset impairment provision totaling approximately 4.17 million yuan, which will reduce the total profit for the period from January to September 2025 by the same amount [1] - As of the report date, Xinxiangwei's market capitalization is 10.2 billion yuan [3] Group 2 - For the year 2024, Xinxiangwei's revenue composition is entirely from integrated circuits, accounting for 100% [2]

第一条 为了加强上海新相微电子股份有限公司（以下简称"公司"）内部审 计工作，提高内部审计工作质量，维护公司和投资者的合法权益，依据《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》《上市公司审计委员会工作指引》等有关法律、法规、规 范性文件和《上海新相微电子股份有限公司章程》（以下简称"《公司章程》"）的 规定，结合公司实际情况，制定本制度。 上海新相微电子股份有限公司 内部审计工作制度 上海新相微电子股份有限公司 内部审计工作制度 第一章 总则 第二条 本制度适用于公司及其控股子公司（包括全资子公司）。 第三条 本制度所称内部审计，是指由公司内部审计机构或审计人员，对其 内部控制和风险管理的有效性、财务信息的真实性和完整性以及经营活动的效率 和效果等开展的一种评价活动。 第四条 本制度所称内部控制，是指公司董事会、高级管理人员及其他有关 人员为实现下列目标而提供合理保证的过程： （一） 遵守国家法律、法规、规章及其他相关规定； （五） 促进公司实现战略发展。 第二章 内部审计机构和审计人员 第五条 公司设立内审部，负责公司内部审计工作，依据国家法律、 ...

Group 1 - New Xiangwei (SH 688593) reported Q3 performance with revenue of approximately 436 million yuan, a year-on-year increase of 27.21% [1] - The net profit attributable to shareholders was approximately 8.18 million yuan, reflecting a year-on-year increase of 138.88% [1] - Basic earnings per share reached 0.018 yuan, up 125% year-on-year [1] Group 2 - As of the report, New Xiangwei's market capitalization stands at 10.2 billion yuan [2] - The Chinese innovative drug sector has seen overseas licensing sales reach 80 billion USD this year [2] - There is a contrast in the biopharmaceutical secondary market's heat versus the cooling fundraising in the primary market [2]

中国国际金融股份有限公司 关于上海新相微电子股份有限公司终止部分募投项目 并将节余募集资金永久补充流动资金的核查意见 中国国际金融股份有限公司（以下简称"保荐机构"）作为上海新相微电子股 份有限公司（以下简称"新相微"或"公司"）首次公开发行股票并在科创板上市的 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（2025年4月修订）》《科创板上市公司持续监管办法（试行）》《 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》等相关法律、 法规和规范性文件的规定，对新相微终止部分募投项目并将节余募集资金永久补 充流动资金的事项进行了核查，具体核查情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意上海新相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〔2023〕731号），同意公司首次公开发 行股票的注册申请。并经上海证券交易所同意，公司首次向社会公开发行人民币 普通股（A股）股票9,190.5883万股，每股发行价格为人民币11.18元，募集资金总 额为人民币102,750.78万元，扣除各项发行费用（不含增值税）人民币11,093.3 ...