证券代码：688608 证券简称：恒玄科技 公告编号：2025-065 恒玄科技（上海）股份有限公司 第三届董事会第二次会议决议公告 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。 一、董事会会议召开情况 恒玄科技（上海）股份有限公司（以下简称"公司"）第三届董事会第二次 会议于 2025 年 12 月 4 日在公司会议室以现场结合通讯方式召开，本次会议通知 及相关材料已于 2025 年 11 月 27 日以电子邮件方式送达公司全体董事。本次会 议应出席董事 6 人，实际出席董事 6 人。本次会议由董事长 Liang Zhang 先生主 持。本次会议的召集、召开和表决程序符合《中华人民共和国公司法》等法律、 法规、规章、规范性文件和《恒玄科技（上海）股份有限公司章程》（以下简称 "《公司章程》"）、《恒玄科技（上海）股份有限公司董事会议事规则》的有关规 定。 二、董事会会议审议情况 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）上披露的 《关于公司关联方与全资子公司共同投资暨关联交易公告》（公告编 ...

恒玄科技（上海）股份有限公司 第三届董事会第一次独立董事专门会议决议公告 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。 一、独立董事专门会议召开情况 恒玄科技（上海）股份有限公司（以下简称"公司"）第三届董事会第一次 独立董事专门会议于 2025 年 12 月 4 日在公司会议室以现场结合通讯方式召开， 本次会议通知及相关材料已于 2025 年 11 月 27 日以电子邮件方式送达公司全体 独立董事。本次会议应出席独立董事 2 人，实际出席独立董事 2 人。本次会议由 全体独立董事共同推举董莉女士担任会议召集人并主持本次会议。本次会议的召 集、召开和表决程序符合《中华人民共和国公司法》等法律、法规、规章、规范 性文件和《恒玄科技（上海）股份有限公司章程》（以下简称"《公司章程》"）、 《恒玄科技（上海）股份有限公司董事会议事规则》《恒玄科技（上海）股份有 限公司独立董事工作制度》的有关规定。 二、独立董事专门会议审议情况 本次会议由董莉女士主持，经与会独立董事表决，会议通过以下议案： 审议通过《关于公司关联方与全资子公司 ...

Core Viewpoint - Hengxuan Technology (688608.SH) announced the initiation of fundraising and partner adjustment for its venture capital fund, Quching Ruxu, with specific contributions from individual partners [1] Group 1: Fundraising and Partner Contributions - Ms. Tang Xiaodong plans to contribute 5 million RMB as a limited partner in Quching Ruxu [1] - Mr. Ni Chunsheng intends to contribute 7 million RMB as a limited partner in Quching Ruxu [1] - The fund's general partner structure will be adjusted from dual general partners to a single general partner [1] Group 2: Fund Background and Structure - Quching Ruxu is a venture capital fund initiated by Qucheng Private Fund Management (Hainan) Co., Ltd., established in May 2024 [1] - The wholly-owned subsidiary, Wendaorifeng, is a limited partner in Quching Ruxu, with a registered contribution of 50 million RMB, representing a 32.4675% stake [1] - The transaction constitutes a related party transaction as per the Shanghai Stock Exchange's regulations [1]

Core Insights - The CSI 500 Quality Growth Index has shown a positive performance, with notable increases in stocks such as Jerry Holdings (10.00%) and Giant Star Technology (5.77) [1] - The Federal Reserve's interest rate decisions and the Central Economic Work Conference's directives are key variables affecting the market in December [1] - Artificial intelligence is identified as a crucial factor for China's economic development, presenting investment opportunities in infrastructure, AI applications, and edge devices [1] Group 1: Index Performance - As of December 3, 2025, the CSI 500 Quality Growth Index increased by 0.43%, with the CSI 500 Quality Growth ETF rising by 0.52% [1] - The top ten weighted stocks in the CSI 500 Quality Growth Index account for 21.53% of the index [2] Group 2: Key Stocks - The top ten stocks by weight include Huagong Technology (3.37%), Kaiying Network (2.96%), and Dongwu Securities (2.46%) [3] - Jerry Holdings and Jinchengxin have shown significant increases in their stock prices, contributing to the overall index performance [1][3] Group 3: Investment Focus - The focus for investment should be on sectors such as traditional manufacturing and resource industries, as well as companies expanding overseas [1] - The CSI 500 Quality Growth ETF selects 100 companies with strong profitability, sustainable earnings, and robust cash flow from the CSI 500 Index [1]

Core Viewpoint - The China Securities 500 Growth ETF (562340) opened with a slight increase of 0.24%, indicating a stable market performance despite fluctuations in its constituent stocks [1] Group 1: ETF Performance - The China Securities 500 Growth ETF (562340) opened at 1.229 yuan [1] - Since its establishment on April 25, 2024, the fund has achieved a return of 22.72% [1] - The fund's performance over the past month has seen a decline of 3.99% [1] Group 2: Constituent Stocks Performance - Among the major holdings, Huagong Technology decreased by 0.19%, and Kaiying Network fell by 0.13% [1] - Dongwu Securities increased by 0.22%, while Hengxuan Technology dropped by 0.81% [1] - Other notable movements include a 7.81% increase in Jereh Holdings and a 0.03% increase in Shunluo Electronics [1]

Core Insights - The AI industry chain experienced a strong start on December 1, with the Huatai-PineBridge AI ETF (589560) rising by 1.74% and a trading volume exceeding 23 million yuan, a 106% increase compared to the previous period [1] - The underlying index of the Huatai-PineBridge AI ETF saw a robust increase of 1.59%, with key component stocks such as Lexin Technology rising by 8.55% and several others, including Jingchen Technology and Fudan Microelectronics, increasing by over 4% [3] Market Performance - The top ten component stocks of the Huatai-PineBridge AI ETF showed varied performance, with Lexin Technology leading at 8.55% and Chip Original Co. experiencing a decline of 1.76% [4] - The overall market sentiment remains high, with a focus on the AI sector as a core investment theme, despite potential short-term adjustments [6] Industry Events - The "2025 AI+" Industry Ecosystem Conference, hosted by the China Internet Association, is taking place from December 1 to 3, covering the entire AI industry chain and releasing the "2025 AI+ Industry Development Report" [5] - The report indicates that the core AI industry in Beijing is projected to reach 215.22 billion yuan in the first half of 2025, reflecting a year-on-year growth of 25.3%, with an estimated total industry scale exceeding 450 billion yuan for the entire year [5] Future Outlook - According to Huatai Securities, the AI industry's positive trend is expected to continue, with a focus on supply-demand improvements and sector-specific growth opportunities [6] - China International Capital Corporation (CICC) emphasizes that AI infrastructure and applications will remain a primary investment focus through 2026, highlighting opportunities in domestic AI innovation and overseas hardware markets [7][8]

Group 1 - The core viewpoint of the news is that Hengxuan Technology's stock has seen a significant increase of 5.22%, reaching a price of 240.40 CNY per share, with a trading volume of 1.32 billion CNY and a turnover rate of 3.37%, resulting in a total market capitalization of 40.554 billion CNY [1] - Hengxuan Technology, established on June 8, 2015, and listed on December 16, 2020, specializes in the research, design, and sales of smart audio SoC chips, with 99.95% of its revenue coming from chip-related services [1] Group 2 - From the perspective of fund holdings, Huafu Fund has a significant position in Hengxuan Technology through its Huafu Artificial Intelligence ETF Connect A (008020), which held 2,000 shares, accounting for 0.02% of the fund's net value, making it the largest holding [2] - The Huafu Artificial Intelligence ETF Connect A (008020) has a total scale of 1.168 billion CNY and has achieved a year-to-date return of 62.39%, ranking 187 out of 4,206 in its category [2] - The fund managers, Zhang Ya, Li Xiaohua, and Gao Zhe, have varying tenures and performance records, with Zhang Ya having the longest tenure of 19 years and a best return of 215.97% during her management period [2]

Core Insights - The AI industry is undergoing a significant revolution, comparable to the Industrial Revolution, requiring a long-term perspective for observation [2] - The China Securities Artificial Intelligence Theme Index (930713) has shown positive performance, with notable increases in constituent stocks [1][3] Group 1: Market Performance - As of November 28, 2025, the China Securities Artificial Intelligence Theme Index (930713) rose by 0.65%, with key stocks like Xinyi Technology (300502) increasing by 4.17% and Hengxuan Technology (688608) by 4.13% [1] - The AI Artificial Intelligence ETF (512930) also saw a rise of 0.64%, with the latest price at 2.06 yuan [1] Group 2: Industry Development - The National Energy Administration has initiated a "Artificial Intelligence + Energy" pilot program, focusing on eight major scenarios and 37 key tasks to enhance the integration of AI in the energy sector [1] - CITIC Construction Investment Securities expresses optimism regarding the demand for AI computing power and applications, highlighting the need for significant investment in AI models for commercial realization [2] Group 3: Index Composition - As of October 31, 2025, the top ten weighted stocks in the China Securities Artificial Intelligence Theme Index (930713) accounted for 63.29% of the index, including companies like Zhongji Xuchuang (300308) and Cambricon Technologies (688256) [3] - The AI Artificial Intelligence ETF closely tracks the China Securities Artificial Intelligence Theme Index, which includes 50 companies involved in providing resources, technology, and application support for AI [2]

Group 1 - The technology sector is experiencing a resurgence, with significant gains in semiconductor, non-ferrous metals, new energy, and artificial intelligence stocks [1] - The AI ETF (515070) has seen its holdings, such as Hengxuan Technology and Zhongke Xintu, rise by over 4% and 3% respectively, indicating strong market interest [1] - Beijing has released an "Artificial Intelligence + Audio-Visual" action plan, aiming to develop a fusion technology innovation system focusing on AI-enabled smart terminal products [1] Group 2 - The AI ETF (515070) tracks the CS Artificial Intelligence Theme Index (930713), selecting stocks that provide technology, basic resources, and applications in the AI industry [2] - The top ten weighted stocks in the AI ETF include leading domestic technology companies such as Zhongji Xuchuang, Xinyi Sheng, and Hanwha [2] Group 3 - CignalAI projects that the global optical switching market could exceed $1.6 billion by 2029, with domestic optical module manufacturers likely to benefit [1] - CITIC Securities highlights that North American cloud providers are experiencing rapid growth in computing power demand, prompting domestic cloud companies to accelerate AI investments [1]

Core Insights - The report by Ernst & Young highlights a growth trend in IPO activities in mainland China and Hong Kong, with A-shares and Hong Kong markets accounting for 16% and 33% of global IPO numbers and fundraising amounts respectively [1] - Chinese companies secured five positions in the global top ten IPOs, with an increase in numbers compared to 2024, primarily in the automotive, mining, energy, and advanced manufacturing sectors [1] - The industrial, technology, and materials sectors are the top three in terms of IPO quantity [1] Market Performance - The A-share market has shown signs of recovery amidst fluctuations, with overall market confidence improving and a strong technical outlook [2] - The "14th Five-Year Plan" policies, capital market developments, and declining interest rates are positively influencing the market, indicating a phase of recovery [2] - Third-quarter reports indicate moderate improvements in fundamentals, which may drive further market recovery [2] Index and ETF Information - The CSI 500 Quality Growth Index selects 100 companies with high profitability, sustainable earnings, and strong cash flow from the CSI 500 Index, providing diverse investment options [2] - As of October 31, 2025, the top ten weighted stocks in the CSI 500 Quality Growth Index accounted for 21.64% of the index [2] - The top ten stocks include Huagong Technology, Kaiying Network, Dongwu Securities, Tianshan Aluminum, Keda Li, Crystal Optoelectronics, Shunluo Electronics, Chuangfeng Power, Changjiang Securities, and Shanghai Electric [2][4]