智通财经APP讯，康鹏科技(688602.SH)公告，公司近日收到无锡云晖、桐乡稼沃及其一致行动人桐乡 云汇出具的《关于股份减持计划的告知函》，因自身资金安排，无锡云晖、桐乡稼沃、桐乡云汇计划根 据市场情况通过集中竞价、大宗交易进行减持：无锡云晖计划通过集中竞价、大宗交易方式减持康鹏科 技股份合计不超过1528.9169万股，占康鹏科技总股份的2.94%。桐乡稼沃和桐乡云汇计划通过集中竞 价、大宗交易方式减持康鹏科技股份合计不超过1182.1103万股，占康鹏科技总股份的2.28%。 ...

Group 1 - The company expects to report a net loss attributable to shareholders of the parent company for the year 2025, estimated between -65 million yuan and -55 million yuan [3] - The net profit attributable to shareholders of the parent company, after deducting non-recurring gains and losses, is projected to be between -82 million yuan and -69 million yuan [4] - The previous year's net profit attributable to shareholders of the parent company was -49.53 million yuan, indicating a worsening financial performance [6] Group 2 - The increase in operating income is attributed to growth in the CDMO segment, with a slight rise in overall gross profit margin [7] - The company has reduced period expenses year-on-year due to cost-cutting measures, which has led to a decrease in net loss attributable to shareholders after excluding non-recurring items [7] - The increase in asset impairment losses is due to the company's cautious approach in testing assets for impairment and making provisions accordingly [7]

Core Viewpoint - Kangpeng Technology (688602.SH) expects to report a net loss attributable to shareholders of the parent company for the year 2025, with an estimated loss ranging from 65 million to 55 million yuan [1] Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company in the range of -65 million to -55 million yuan for the year 2025 [1]

Core Viewpoint - Kangpeng Technology (688602.SH) expects to report a net loss attributable to shareholders of the parent company for the year 2025, with an estimated loss ranging from 65 million to 55 million yuan [1] Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company to be between -65 million yuan and -55 million yuan for the year 2025 [1]

Financial Performance Forecast - The company expects a net loss attributable to shareholders of the parent company for 2025 to be between -65 million yuan and -55 million yuan [4]. - The net loss attributable to shareholders after deducting non-recurring gains and losses is projected to be between -82 million yuan and -69 million yuan [4]. - In the same period last year, the net loss attributable to shareholders was -49.53 million yuan, and the loss after deducting non-recurring gains and losses was -93.60 million yuan [6]. Revenue and Expenses - The increase in revenue is attributed to growth in the CDMO segment, with a slight rise in overall gross margin [8]. - The company has reduced period expenses year-on-year due to cost-cutting and efficiency improvement measures [8]. - The decline in investment income is significant due to the previous year's gains from the disposal of equity in a joint venture [8]. - The company has increased asset impairment losses due to testing for impairment signs on certain assets [8]. Performance Forecast Reliability - The performance forecast has not been audited by a registered accountant and is based on preliminary calculations by the finance department [9]. - The company has not identified any major uncertainties affecting the accuracy of the performance forecast [9]. - Investors are advised to pay attention to investment risks as the forecast data is preliminary and subject to change upon the release of the audited annual report [10].

Core Viewpoint - Kangpeng Technology has released its annual performance forecast, indicating a significant net loss for 2025, with expected losses ranging from 55 million to 65 million yuan for net profit attributable to shareholders, and a loss of 82 million to 69 million yuan for net profit after deducting non-recurring gains and losses [1] Financial Performance - The company anticipates a growth in operating revenue compared to the previous year, driven by the growth of its CDMO (Contract Development and Manufacturing Organization) business segment [1] - The overall gross profit margin has slightly increased during the reporting period [1] - Due to cost reduction and efficiency improvement measures, the company's period expenses have decreased year-on-year [1] Profitability Analysis - The net loss attributable to shareholders, after excluding non-recurring gains and losses, has decreased [1] - However, the company experienced a significant decline in investment income due to the previous year's gains from the disposal of part of its stake in the joint venture Shanghai Zhongke Kangrun New Materials Technology Co., Ltd., and adjustments related to deferred tax assets and expenses [1] - The company has increased its asset impairment losses by testing assets for impairment signs and making provisions accordingly, leading to an increase in net loss attributable to shareholders [1]

Core Viewpoint - The company expects a net loss of approximately 43.5 million yuan for the year 2025, representing a year-on-year decrease in loss of 42.86% [1] - The company aims to become a leading global supplier of RF front-end products, focusing on enhancing core competitiveness and expanding product lines [1] Financial Performance - The projected net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be around -63 million yuan, a year-on-year decrease in loss of 34.51% [1] - The anticipated operating revenue for 2025 is approximately 683.5 million yuan, reflecting a year-on-year growth of about 30.74% [1] Product and Market Development - The Wi-Fi 7 product line is expected to grow rapidly, contributing around 50% to the total operating revenue, thus becoming a core driver of performance growth [1] - The company plans to maintain high R&D investment, estimated at around 95.6 million yuan, to ensure long-term competitiveness [1] Legal and Compliance Costs - The company expects to incur approximately 59.36 million yuan in legal and expert fees related to ongoing patent litigation and investigations, significantly increasing management expenses compared to the previous year [1] - Despite the increase in operating revenue, the net profit attributable to shareholders is still projected to be a loss due to the impact of legal fees; however, profitability is expected when excluding these costs [1] Government Subsidies - The amount of government subsidies that meet the conditions for profit recognition is expected to exceed that of the previous year [1]

Core Viewpoint - 康希通信 has achieved a preliminary victory against Skyworks in a patent infringement case, indicating the capability of Chinese companies to compete with industry giants under international regulations [3][7][16]. Group 1: Legal Dispute Overview - 康希通信 was sued by Skyworks in May 2024 for allegedly infringing on five patents related to Wi-Fi RF front-end modules [5]. - The U.S. International Trade Commission (ITC) ruled that 康希通信 did not infringe on two of the patents claimed by Skyworks, leading to a significant legal advantage for 康希通信 [4][8]. - The investigation into three other patents was terminated after Skyworks withdrew them during the evidence disclosure phase [6]. Group 2: Financial Implications - 康希通信 incurred substantial legal costs, amounting to approximately 38.84 million yuan in 2024 and an additional 50.59 million yuan in the first three quarters of 2025, bringing total expenses close to 100 million yuan [10][12]. - Despite a revenue increase to 520 million yuan in 2024, 康希通信 reported a loss of 76 million yuan, primarily due to legal expenses [10]. - The ongoing legal battle is expected to exceed 100 million yuan in total costs, significantly impacting 康希通信's profitability [12]. Group 3: Market Context and Competitive Landscape - 康希通信 operates primarily in the RF front-end chip design sector, with a focus on markets in Hong Kong and Taiwan, while less than 5% of sales come from other overseas markets [8]. - The company faces competition from established players like Skyworks and Qorvo, which dominate the Wi-Fi communication market [8]. - The legal victory is seen as a potential turning point that could alleviate concerns from European and Southeast Asian clients regarding 康希通信's products [9]. Group 4: Broader Industry Trends - The semiconductor industry is witnessing an increase in patent litigation, with 康希通信 not being the only Chinese company facing such challenges [13][15]. - The competitive landscape is characterized by significant patent holdings from multinational companies, with Skyworks alone holding over 5,000 patents [15]. - Chinese semiconductor firms are ramping up R&D investments, with 康希通信 increasing its R&D spending by 70% to 107 million yuan in 2024 [15].

Core Viewpoint - 康希通信's subsidiary achieved significant progress in the 337 investigation initiated by the U.S. International Trade Commission (ITC), with a preliminary ruling stating that it did not violate the relevant patent laws [3][4] Group 1: Investigation Details - The 337 investigation was initiated by Skyworks Solutions, Inc. in July 2024, accusing 康希通信's subsidiary of infringing on five patents related to specific radio frequency front-end modules (FEMS) [3] - The investigation case number is Inv. No. 337-TA-1413 [3] Group 2: Preliminary Ruling Outcomes - The preliminary ruling indicated that 康希通信 did not infringe on the two patents claimed by Skyworks, specifically US9,917,563 and US8,717,101 [4] - Three additional patents (US9,450,579, US9,148,194, and US7,409,200) were withdrawn by Skyworks during the evidence disclosure phase, leading to the termination of the investigation regarding these patents [4] Group 3: Company Position and Future Steps - 康希通信 emphasized its commitment to intellectual property management and protection, highlighting its independent and complete intellectual property system [4] - The preliminary ruling provides crucial legal support for 康希通信's product exports to the U.S. market [4] - The ruling is preliminary, and both parties have the right to request a review from the ITC within the statutory period, leading to administrative review and final ruling stages [4]

Core Viewpoint - The announcement by Kangxi Communication indicates that its subsidiary, Kangxi Communication Technology (Shanghai) Co., Ltd., and GRANDCHIPLABS, INC. have not infringed on the patent rights of Skyworks, a leading RF chip company [1] Summary by Relevant Sections - **Patent Infringement Case**: In 2024, Skyworks filed a complaint with the U.S. International Trade Commission, alleging that Kangxi Communication's subsidiaries manufactured and exported specific RF front-end modules that infringed on five of its patents [1]