证券代码：688608 证券简称：恒玄科技 公告编号：2025-038 恒玄科技（上海）股份有限公司 关于公司 2022 年限制性股票激励计划 第三个归属期归属结果暨股份上市公告 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股权激励股份；股票认购方式为网下，上市股数为 428,852股。 本次股票上市流通总数为428,852股。 本次股票上市流通日期为2025 年 8 月 6 日。 激励相关事宜的议案》等相关议案。公司独立董事就激励计划相关议案发表了独 立意见。 同日，公司召开第一届监事会第十三次会议，审议通过了《关于<恒玄科技（上 海）股份有限公司 2022 年限制性股票激励计划（草案）>及其摘要的议案》《关 于<恒玄科技（上海）股份有限公司 2022 年限制性股票激励计划实施考核管理办 法>的议案》《关于核实公司<2022 年限制性股票激励计划首次授予激励对象名单> 的议案》，公司监事会对本激励计划的相关事项进行核实并出具了相关核查意见。 （二）2022 年 4 月 26 日，公司 ...

Group 1 - The recent insider trading activities at Hengxuan Technology show that Liang Zhang, a key executive, has reduced his holdings by a total of 25.1 thousand shares over two transactions on July 29 and July 30, 2025, at average prices of 251.65 and 250.63 respectively [1] - Liang Zhang's current holding stands at 666.93 thousand shares after the recent reductions, while other executives like the General Manager hold 17.03 million shares [1] - The stock has seen a net inflow of 42.14 million in financing over the past five days, indicating increased investor interest, while the short selling balance has decreased by 1.21 million [1] Group 2 - In the last 90 days, 20 institutions have rated the stock, with 15 giving a "buy" rating and 5 an "increase" rating, suggesting a positive outlook from analysts [2] - The average target price set by institutions for the stock over the past 90 days is 418.59 [2]

智通财经APP获悉，国泰海通发布研报称，根据映维网、JBD公众号，阿里自研的首款自研智能眼 镜"夸克AI眼镜"在WAIC 2025世界人工智能大会期间正式亮相，预计将在年内正式发布。政策面上， 《上海市下一代显示产业高质量发展行动方案》发布，其中《方案》提出，发展AI+AR、AI+MR等多 形态眼镜产品，鼓励下一代硅基微显示的产品模式与眼镜形态创新，加快推动全彩化、便携式智能眼镜 产品研发。看好大厂AI+AR眼镜密集发布催化及大模型多模态迭代对AI+AR眼镜交互能力的提升。 《上海市下一代显示产业高质量发展行动方案》(2026-2030年)于7月22日印发，《方案》提出，发展 AI+AR、AI+MR等多形态眼镜产品，聚焦轻量化、低功耗、高分辨率、大视场角等关键技术指标，推 动显示器件、波导镜片、核心芯片等关键部件迭代创新，持续提升产品性能，鼓励下一代硅基微显示的 产品模式与眼镜形态创新，加快推动全彩化、便携式智能眼镜产品研发。 全球AI眼镜出货量有望高速增长 Meta与雷朋联名的Rayban-MetaAI眼镜自2023年9月推出销量已突破200万台，25年Meta有望发布带显示 的AR眼镜；Rokid Gla ...

格隆汇7月31日丨恒玄科技(688608.SH)在互动平台表示，公司芯片产品广泛应用于智能可穿戴市场，包 括TWS耳机、智能手表/手环、智能眼镜等产品。智能可穿戴市场是公司重要的战略布局方向，基于公 司BES2800的智能眼镜方案已经实现量产，通过全集成的音频输入输出，可实现轻量化模型的本地运 行，同时低功耗双模Wi-Fi/BT可快速将部分在线语音AI需求与云端相互响应，适配市场上主流的ISP芯 片，形成带视频和拍照功能及图像识别的多模态智能眼镜系统，可实现更长佩戴时间。 ...

来源：金融界 银华数字经济股票发起式C股票持仓前十占比合计49.75%，分别为：中芯国际（8.44%）、小米集团-W （8.33%）、九号公司-（8.18%）、华虹半导体（5.47%）、恒玄科技（5.37%）、移远通信 （4.00%）、泰凌微（2.96%）、中科蓝讯（2.59%）、分众传媒（2.47%）、国光电器（1.94%）。 公开资料显示，银华数字经济股票发起式C基金成立于2022年5月20日，截至2025年6月30日，银华数字 经济股票发起式C规模14.90亿元，基金经理为王晓川。 简历显示：王晓川先生:清华大学硕士。2016年7月加入银华基金,历任交通运输、煤炭、传媒行业研究 员。自2022年5月9日起,拟任银华数字经济股票型发起式证券投资基金的基金经理。 金融界2025年7月30日消息，银华数字经济股票发起式C(015642) 最新净值1.4101元，下跌1.78%。该基 金近1个月收益率1.75%，同类排名340|352；近6个月收益率3.91%，同类排名286|342；今年来收益率 8.62%，同类排名218|340。 ...

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry, specifically focusing on the smart watch sector [3]. Core Insights - The smart watch industry is expected to continue its growth trajectory, driven by AI applications and increasing demand for sports functionalities [6][11]. - AI integration and sports features are becoming key selling points for smart watches, enhancing user experience and driving market demand [12][28]. Summary by Sections 1. Smart Watch Industry Growth - The smart watch segment is witnessing a steady increase in shipment volumes, with a significant rise in the share of smart watches equipped with operating systems, now accounting for approximately 80% of the wearable market [16][17]. - The global wearable market is recovering, with a 13% year-on-year increase in shipments in Q1 2025, indicating a positive trend for smart watches [19][22]. 2. AI Functionality and High-End Market - AI features are enhancing user interaction and health monitoring capabilities in smart watches, with predictions that AI watch penetration will reach 15% by 2025 [35][43]. - The demand for high-end smart watches is expected to rise, with advanced operating systems projected to dominate the market, potentially reaching 100 million units shipped by 2027 [52][56]. 3. Sports Watch Demand - The sports watch segment is characterized by specialized features for outdoor activities, with a higher average selling price compared to general smart watches, indicating a trend towards premiumization in the market [70]. - Garmin, a leader in the sports watch market, has shown strong revenue growth, reflecting the ongoing demand for high-performance sports watches [66][68]. 4. Investment Recommendations - The report suggests focusing on terminal manufacturers such as Huami Technology, Xiaomi Group, and Transsion Holdings, as well as SoC manufacturers like Hengxuan Technology, which are expected to benefit from market growth [14][74].

Group 1 - The core viewpoint of the news highlights the strong performance of the Southern Science and Technology Chip ETF (588890), which saw a nearly 2% increase during early trading on July 29, 2025, with a turnover of 5.5% and a transaction volume of 32.32 million yuan [1] - The underlying index, the Shanghai Science and Technology Chip Index (000685), rose by 1.57%, with significant gains in constituent stocks such as Dongxin Co., Ltd. (688110) up 20.01%, Fudan Microelectronics (688385) up 9.26%, and Naxin Microelectronics (688052) up 7.92% [1] - Over the past year, the Southern Science and Technology Chip ETF (588890) has seen an increase in scale by 534 million yuan, with a notable growth of 3 million shares in the last two weeks [1] Group 2 - On July 28, the Shanghai Municipal Economic and Information Commission released measures to further expand the application of artificial intelligence, emphasizing support for key technological innovations in areas such as intelligent chips and brain-computer interfaces, with funding support of up to 50% for strategic projects [2] - According to China International Capital Corporation (CICC), the semiconductor industry is experiencing high demand, with rapid growth in the shipment of existing applications and the emergence of new applications, benefiting leading companies through operational leverage and rising net profit margins [2] - The Southern Science and Technology Chip ETF (588890) closely tracks the Shanghai Science and Technology Chip Index, which includes companies involved in semiconductor materials, chip design, manufacturing, packaging, and testing, reflecting the overall performance of representative chip industry listed companies [3]

Core Viewpoint - Hengxuan Technology focuses on the design and development of low-power wireless computing SoC chips, with significant growth in revenue and customer base for its wearable chips, particularly the BES2800 series, which is expanding into smart glasses and low-power Wi-Fi markets [1][3] Group 1: Company Performance - In 2024, the company's revenue is expected to grow by 116% year-on-year, reaching 1.045 billion yuan, with a shipment volume exceeding 40 million units [1] - The BES2800 series chip serves as the flagship wearable platform, enhancing applications in smart glasses and low-power Wi-Fi, moving towards becoming a platform chip company [1][3] Group 2: Technological Advancements - The BES2800 chip, built on a 6nm FinFET process, integrates multi-core CPU/GPU, NPU, large storage, low-power Wi-Fi, and dual-mode Bluetooth, significantly improving performance and power efficiency [1] - The chip supports health algorithms for heart rate and blood oxygen monitoring, achieving over 20 days of battery life through dynamic power management technology [1] Group 3: Product Applications - The BES2800-based smart glasses solution features integrated audio input/output for lightweight model operation and low-power dual-mode Wi-Fi/BT for responsive online voice AI needs, enhancing user experience with longer wear times [2] - The BES2800 platform supports high-bandwidth, low-latency audio transmission, meeting the demands of professional audio equipment, and surpassing traditional Bluetooth audio transmission capabilities [2] Group 4: Future Projections - The company is expected to achieve revenues of 4.705 billion, 6.067 billion, and 7.621 billion yuan in 2025, 2026, and 2027 respectively, with net profits of 884 million, 1.245 billion, and 1.685 billion yuan [3]

Core Viewpoint - Chip stocks experienced a significant rally in the afternoon, with several companies seeing substantial gains, indicating a positive trend in the semiconductor sector [1] Company Performance - Aishi Technology reached a 20% limit up, showcasing strong market interest [1] - Companies such as Cambricon, Saiwei Microelectronics, Aojie Technology, Hengxuan Technology, Qipai Technology, and Chipway Technology all saw their stock prices increase by over 5% [1] - Other companies including Lianang Microelectronics, Taiji Co., and Huahong Semiconductor also followed suit with notable gains [1]

Group 1 - The A-share semiconductor sector showed strong performance in the afternoon, with notable gains in several companies [1] - Saiwei Microelectronics surged over 8%, while Hengxuan Technology increased by more than 7% [1] - Other companies such as Cambricon and Qipai Technology rose over 6%, with Dongwei Semiconductor and Xindao Technology also experiencing gains [1]