关于芯海科技（深圳）股份有限公司 天风证券股份有限公司 使用部分闲置募集资金及自有资金进行现金管理的 核查意见 天风证券股份有限公司（以下简称"天风证券"或"保荐机构"）作为芯海 科技（深圳）股份有限公司（以下简称"芯海科技"或"公司"）向不特定对象 发行可转换公司债券并上市及持续督导的保荐机构，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》等有关规定，对芯海科技拟使 用部分闲置募集资金及自有资金进行现金管理情况进行了认真、审慎的核查， 并发表本核查意见，具体情况如下： 一、募集资金的基本情况 根据中国证券监督管理委员会于 2020年 8月 25日出具的《关于同意芯海科 技（深圳）股份有限公司首次公开发行股票注册的批复》（证监许可〔2020〕 1930 号），公司获准向社会公开发行人民币普通股 25,000,000 股,每股发行价格 为 22.82 元，募集资金总额为 57,050.00 万元，扣除承销及保荐费用、发行登记 费以及其他交易费用共计 7,600.36 万元（不含增值税金额），募集资金净额为 49,44 ...

| 证券代码：688595 | 证券简称：芯海科技 | 公告编号：2024-041 | | --- | --- | --- | | 债券代码：118015 | 债券简称：芯海转债 | | 芯海科技（深圳）股份有限公司 关于"芯海转债"预计触发转股价格向下修正的 提示性公告 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。 特别提示： 1、证券代码：688595，证券简称：芯海科技 2、债券代码：118015，债券简称：芯海转债 3、转股价格：55.67 元/股 4、转股时间：2023 年 1 月 27 日至 2028 年 7 月 20 日。 5、芯海科技（深圳）股份有限公司（以下简称"芯海科技"或"公司"）股票 自 2024 年 9 月 5 日至 2024 年 9 月 20 日已有 10 个交易日的收盘价低于当期转股 价格的 85%（即 47.32 元/股），存在触发《芯海科技（深圳）股份有限公司向 不特定对象发行可转换公司债券募集说明书》（以下简称"募集说明书"）中规定 的转股价格向下修正条件的可能性。若触发条件，公司将于 ...

证券研究报告 | 公司动态点评 2024 年 09 月 09 日 芯海科技（688595.SH） H1 业绩同比改善，新品放量贡献增量 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|--------|---------|-------|-------|-------|-----------------------------------------|----------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 增持（维持评级） | | | 营业收入（百万元） | 618 | 433 | 694 | 1,029 | 1,374 | | | | 增长率 yoy （ % ） | -6.3 | -29.9 | 60.3 | 48.3 | 33.6 | 股票信息 | | | 归母净利润（百万元） | 3 | -143 | -48 | 23 | 118 | 行业 | 电子 | | 增长率 yoy （ % ） | -97 ...

债券代码：118015 债券简称：芯海转债 证券代码：688595 证券简称：芯海科技 编号：2024-010 芯海科技（深圳）股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | |-----------|------------------------|---------------------------|----------------------------------------------------------------|--------------------------------------------------------------------------| | | ■ | 特定对象调研 □分析师会议 | | | | 投资者关 | □ 媒体采访 ■ | 2024 年半年度业绩说明会 | | | | 系活动类 | □新闻发布会 □路演活动 | | | | | 别 | □ 现场参观 □电话会议 | | | | | | □ 其他 | | | | | 日期/时间 | 2024 年 9 | 月 4 日-6 日 | 地点 | 会议室 | | 投资 ...

Group 1: Company Overview and Market Position - Chipsea Technology has established a comprehensive product layout covering PD, HapticPad, and BMS, achieving both horizontal and vertical product integration in AI PC, industrial computers, and edge computing [2] - The company has developed a range of products for humanoid robots, including sensor signal conditioning, BMS, ADC, and pressure touch chips, which are essential for perception, decision-making, and execution [2] Group 2: Product Innovations - The newly launched edge BMC is a lightweight remote management solution that significantly reduces operational costs and enhances management efficiency for edge devices [3] - The first-generation EC chip has achieved large-scale production in leading computer clients, and the second-generation EC chip has passed Intel PCL certification, breaking the overseas monopoly in this market [4] Group 3: Financial Performance - In Q2 2024, the company reported a revenue of 199 million CNY, a year-on-year increase of 106.79% and a quarter-on-quarter increase of 31.37% [3] - The overall shipment volume in the first half of 2024 increased by 144% year-on-year, with single-section BMS shipments exceeding the total for 2023 [3] Group 4: Future Strategies - The company plans to focus on key strategic areas such as BMS, sensor management, PC, and automotive electronics to sustain long-term growth [3] - Future investments will be directed towards enhancing management efficiency and reducing operational costs to improve profit levels [4]

天风证券股份有限公司 关于芯海科技（深圳）股份有限公司 2024 年半年度持续督导跟踪报告 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》和《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关法律、法规的规定，天风证券股份有限公司（以下简称"保荐机构"）作为芯 海科技（深圳）股份有限公司（以下简称"芯海科技"、"公司"或"发行人"） 的持续督导保荐机构，负责芯海科技的持续督导工作，并出具本半年度持续督 导跟踪报告。 | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对具 体的持续督导工作制定相应的工作计划 | 保荐机构已建立健全并有效执行持 | | | | 续督导工作制度，并针对具体的持 | | | | 续督导工作制定相应的工作计划。 | | 2 | 根据中国证监会相关规定，在持续督导工作开始 | 保荐机构已与公司签订持续督导协 | | | 前，与上市公司或相关当事人签署持续督导协议， | 议，该协议已明确了双方在持续督 | | | 明确双方在持续督导期间的权利义务，并报上海证 ...

| 证券代码：688595 | 证券简称：芯海科技 | 公告编号：2024-040 | | --- | --- | --- | | 债券代码：118015 | 债券简称：芯海转债 | | 芯海科技（深圳）股份有限公司 关于召开2024年半年度业绩说明会的公告 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。 重要内容提示： 视频和线上文字互动平台：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开时间：2024 年 9 月 6 日（星期五）下午 13:00-14:30 会议召开方式：视频和线上文字互动 投资者可于 2024 年 8 月 28 日（星期三）至 2024 年 9 月 5 日（星期 四）16:00 前通过公司邮箱 info@chipsea.com 将需要了解和关注的问题提前提供 给公司。公司将在业绩说明会文字互动环节对投资者普遍关注的问题进行回 答。 芯海科技（深圳）股份有限公司（以下简称"公司"）已于2024年8月20日发 布公司2024年半年度报告，为便于广 ...

Financial Performance - Q2 2024 revenue reached 1.99 billion yuan, a year-on-year increase of 106.79% and a quarter-on-quarter increase of 31.37% [2] - H1 2024 shipment volume increased by 144% compared to the same period in 2023, with single-cell BMS shipments exceeding the total for 2023 [2] - Revenue from EC, PD, and HUB series chips for computers and peripherals increased by approximately 136% in H1 2024 [3] Product Development and Market Expansion - New products in communication, computer, and industrial measurement fields began mass shipments in 2024 [2] - The company has achieved a horizontal product layout covering EC, PD, HapticPad, USB HUB, and BMS, and a vertical layout from AI PC to edge computing servers [3] - The first-generation EC chip has achieved mass production with major computer clients, and the second-generation EC chip passed Intel PCL certification [4] Strategic Focus and Future Plans - Future investments will focus on BMS, sensor signal conditioning, PC, and automotive electronics to enhance industry position [3] - The company plans to slow down personnel expansion and focus on improving management efficiency and reducing operating costs [3] - Continued investment in PC business to develop products that enhance user experience [4] AI and IoT Opportunities - AI technology is driving growth in data centers, AI PCs, and humanoid robots, with the company's products applicable in sensing, decision-making, and execution systems [3] - The company provides IoT solutions with high-precision ADC, high-reliability MCU, and wireless connectivity, enabling devices to access the HarmonyOS [4] Partnerships and Certifications - The company's EC product is the first in mainland China to pass Intel international certification, breaking the monopoly of overseas products in this market [4] - Collaboration with major domestic laptop manufacturers, including the Honor AI PC MagicBook Pro 16, which uses the company's high-performance EC chip [4]

Investment Rating - Buy (Maintained) [1] Core Views - The company's revenue in H1 2024 reached RMB 350 million, a year-on-year increase of 121.89%, with a net loss attributable to the parent company of RMB 56.82 million, narrowing by RMB 13.29 million year-on-year [1] - In Q2 2024, the company achieved revenue of RMB 199 million, a year-on-year increase of 106.79%, with a net loss attributable to the parent company of RMB 21.39 million, narrowing by RMB 237,000 year-on-year [1] - Shipment volume in H1 2024 increased by 144% year-on-year, driven by strong demand recovery and the scaling up of new products [2] - The company's gross margin in H1 2024 improved by 3.93 percentage points year-on-year to 33.37%, with R&D investment increasing by 43.93% to RMB 129 million [2] - The company has made significant breakthroughs in product development and market expansion, particularly in BMS, PC, and traditional MCU products, with strategic customer share increasing significantly [2][5] Business Performance - BMS and PC: Single-cell BMS shipments in H1 2024 exceeded the total for 2023, and 2-5 cell BMS products achieved mass shipments. Revenue from EC, PD, and HUB series chips for computers and peripherals increased by approximately 136% year-on-year [2] - Traditional Products: With the recovery in consumer electronics demand and industry inventory bottoming out, sales of traditional MCU products, health measurement, and AIoT-related products have steadily rebounded [2] - Product Development: The company has launched new products in analog signal chains, MCUs, and health measurement AIoT, further solidifying its leading position in the full signal chain field [5] Market and Product Breakthroughs - Analog Signal: Achieved breakthroughs in haptic feedback, Hapticpad, and automotive pressure touch solutions with leading customers. PPG signal acquisition chips began mass production at benchmark clients [5] - MCU: PD chips achieved mass shipments in mobile phones, computer peripherals, energy storage, and power tools markets. The first-generation EC chip achieved mass production with leading computer clients, and the second-generation EC chip passed verification by a global computer leader [5] - Health Measurement AIoT: Strengthened its leading position in the HarmonyOS ecosystem, successfully introducing 245 HarmonyOS projects and completing 97 SKU product integrations [5] Financial Forecast - Revenue for 2024-2026 is projected to be RMB 725 million, RMB 1.054 billion, and RMB 1.428 billion, respectively, with net profit attributable to the parent company expected to be -RMB 46 million, RMB 22 million, and RMB 145 million [5] - The company's PS ratio for 2024-2026 is projected to be 4.74X, 3.26X, and 2.40X, respectively [5] Strategic Outlook - The company is expected to benefit from the development of the domestic smart hardware industry and the increasing demand for chip localization, with new products continuously iterating and achieving breakthroughs with clients [5]

电子 证 券 研 究 报 告 2024 年 08 月 22 日 芯海科技 (688595) ——MCU、AIOT 需求修复，PC/车载信号链新品放量 | --- | --- | |-----------------------------|-------------------------------| | 市场数据： | 2024 年 08 月 22 日 | | 收盘价（元） | 23.80 | | 一年内最高 / 最低（元） | 49.88/19.80 | | 市净率 | 4.4 | | 息率（分红/股价） | - | | 流通 A 股市值（百万元） | 3,390 | | 上证指数/深证成指 | 2,848.77/8,162.18 | | --- | --- | |-------------------------------|-------------------------------| | | | | | | | 基础数据 : | 2024 年 06 月 30 日 | | 每股净资产（元） | 5.38 | | 资产负债率 % | 42.62 | | 总股本 /流通 A 股（百万） | 142/1 ...