Group 1 - The stock price of Galaxy Microelectronics closed at 25.63 yuan on July 29, 2025, down 0.62% from the previous trading day, with a trading volume of 0.60 billion yuan [1] - Galaxy Microelectronics focuses on the research and manufacturing of semiconductor devices, with products including discrete devices and power devices [1] - The company operates in sectors such as semiconductors, Jiangsu sector, and Chiplet concept [1] Group 2 - On July 29, the net outflow of main funds for Galaxy Microelectronics was 2.5886 million yuan [2] - The board of directors decided not to adjust the conversion price of "Yinwei Convertible Bonds" and clarified that if the adjustment conditions are triggered again within the next three months, no adjustment plan will be proposed [1]

Core Points - The company, Galaxy Microelectronics, announced that it will not adjust the conversion price of its "Yinwei Convertible Bonds" downward [1] - The decision was made by the board of directors and will remain in effect for the next three months, from July 30, 2025, to October 29, 2025 [1] - If the conditions for a downward adjustment of the conversion price are triggered again within this period, the company will also not propose a downward adjustment plan [1]

| 证券代码：688689 | 证券简称：银河微电 | 公告编号：2025-036 | | --- | --- | --- | | 转债代码：118011 | 转债简称：银微转债 | | 常州银河世纪微电子股份有限公司 关于不向下修正"银微转债"转股价格的公告 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： 截至 2025 年 7 月 29 日，"银微转债"转股价格已触发向下修正条款。 经常州银河世纪微电子股份有限公司（以下简称"公司"）董事会决定， 本次不向下修正"银微转债"转股价格。同时在未来三个月内（即 2025 年 7 月 30 日起至 2025 年 10 月 29 日），如果再次触发"银微转债"转股价格向下修正 条件，亦不提出向下修正方案。 一、可转债发行上市情况 （一）经中国证券监督管理委员会证监许可〔2022〕1180号文同意注册，公 司于2022年7月4日向不特定对象发行了500.00万张可转换公司债券，每张面值 100元，发行总额50,000.00万元，期限为自发行之日起六年，即自2022 ...

| 证券代码：688689 | 证券简称：银河微电 | 公告编号：2025-035 | | --- | --- | --- | | 转债代码：118011 | 转债简称：银微转债 | | 常州银河世纪微电子股份有限公司 关于"银微转债"预计触发转股价格向下修正条件的 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。 重要内容提示： 转股价格：31.30 元/股 转股起止日期：2023 年 1 月 9 日至 2028 年 7 月 3 日 常州银河世纪微电子股份有限公司（以下简称"公司"）股票自 2025 年 7 月 9 日至 2025 年 7 月 22 日已有 10 个交易日的收盘价低于当期转股价格的 85%（即 26.61 元/股），存在触发《常州银河世纪微电子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，公司将于触发条件当日召开董 事会审议决定是否修正转股价格，并及时履行信息披露义务。 根据《上海证券交易所上市公司自律监 ...

Industry News - The national insurance companies have fully implemented a long-cycle assessment mechanism of over three years, with the addition of five-year cycle indicators. The net asset return rate will now include a five-year cycle indicator, with weights of 30%, 50%, and 20% for the current year, three-year, and five-year indicators respectively [1][8] - The adjustment of the national basic medical insurance, maternity insurance, and work-related injury insurance drug catalog, as well as the commercial health insurance innovative drug catalog, has officially started. The new commercial insurance innovative drug catalog focuses on high innovation and significant clinical value drugs that cannot be included in the basic catalog due to exceeding the "basic protection" positioning [2][10] - The China Securities Association has released 28 measures to promote high-quality development in the securities industry, focusing on improving self-regulatory management and enhancing service functions [3][9] - The Shanghai Stock Exchange has published guidelines for the Sci-Tech Innovation Board, allowing 32 existing unprofitable companies to enter the growth layer immediately, with no additional listing thresholds for new unprofitable companies [3][6] Company News - China Shenhua announced a net profit of 23.6 billion to 25.6 billion yuan for the first half of the year, representing a year-on-year decline of 13.2% to 20% [14] - Fuda Alloy plans to acquire at least 51% of the shares of TOPCon battery silver paste company Guangda Electronics [15] - Huaxi Securities expects a year-on-year increase in net profit of 1025% to 1354% for the first half of the year [15] - Zijin Mining anticipates a net profit of approximately 23.2 billion yuan for the first half of the year, a year-on-year increase of 54% [16] - Sanhe Pile expects a year-on-year increase in net profit of 3091% to 3889% for the first half of the year [17] - Limin Co. anticipates a year-on-year increase in net profit of 719.25% to 782.27% for the first half of the year [17] - Lanqi Technology expects a year-on-year increase in net profit of 85.50% to 102.36% for the first half of the year [18] - Aopu Mai expects a net profit of approximately 37 million yuan for the first half of the year, a year-on-year increase of 53.28% [19] - China Jushi anticipates a year-on-year increase in net profit of 71.65% to 76.85% for the first half of the year [19] - Gaode Infrared expects a year-on-year increase in net profit of 735% to 957% for the first half of the year [19] - Degute is planning to acquire 100% of Haowei Technology, with stock resuming trading [19] - Kanghua Bio is planning a change of control, with stock suspended from trading [19] - Dongfang Caifu announced that its subsidiary Hafu Securities has been approved by the Hong Kong Securities and Futures Commission to provide virtual asset trading services [20] - Galaxy Microelectronics plans to invest 310 million yuan to build the first phase of a high-end integrated circuit discrete device industrialization base [20]

Group 1 - The article discusses the recent market performance, indicating that the Shanghai Composite Index has stabilized around 3500 points, driven by policy expectations and potential government stimulus measures [1][2] - Analysts from Citigroup predict that the upcoming Politburo meeting will not revise the budget or increase government bond quotas, but will focus on implementing existing policies to support consumption and the real estate sector [1][2] - The article highlights that the real estate market has shown signs of recovery, with a potential for further gains in the coming weeks, based on historical trends of policy-driven market movements [3][5] Group 2 - The banking sector is expected to see an increase in dividend yields due to upcoming dividend distributions, which could enhance the attractiveness of bank stocks [7] - The article notes that the insurance sector is adjusting its investment strategies to favor high-dividend assets, which may impact the overall market dynamics [7] - The article mentions that the real estate index has risen by 9.69% since June 23, indicating a positive trend relative to the Shanghai Composite Index [3][5] Group 3 - The article outlines the upcoming key events in the financial calendar, including the Politburo meeting and FOMC meetings, which are expected to influence market sentiment and policy direction [2] - It emphasizes the importance of monitoring economic indicators and policy announcements as they could significantly impact market performance in the second half of the year [2][10] - The article suggests that sectors such as renewable energy, construction materials, and industrial metals are likely to benefit from current market trends and policy support [15][18]

Core Viewpoint - Galaxy Microelectronics (688689) has shown a price increase of 2.54% this week, closing at 23.38 yuan, with a total market capitalization of 3.014 billion yuan, ranking 157th in the semiconductor sector and 4309th in the A-share market [1][2]. Company Announcements Summary - The company plans to utilize no more than 200 million yuan of idle convertible bond funds for cash management, aiming to enhance fund efficiency and increase company returns [2]. - Galaxy Microelectronics intends to invest 310 million yuan in the construction of the first phase of a high-end integrated circuit discrete device industrialization base, with a construction period of 30 months [2]. - The project aims to improve the production capacity of integrated circuit discrete devices and expand production scale to meet market demand [2].

Group 1 - Yuntian Lifa plans to issue H-shares and list on the Hong Kong Stock Exchange [3] - Aerospace Electromechanical's wholly-owned subsidiary intends to transfer 70% equity of Eschong Korea [4] - Three Gorges Water Conservancy plans to publicly transfer 41.0071% equity of Chongqing Tiantai Energy Group [5] Group 2 - Galaxy Microelectronics intends to invest 310 million yuan in the construction of a high-end integrated circuit device industrialization base [6] - Wanye Enterprises' wholly-owned subsidiary plans to invest 299 million yuan to establish a private equity investment fund [7] - Dailor New Materials will invest 45 million yuan to establish a holding subsidiary [8] Group 3 - Huaxi Securities expects a net profit increase of 1025.19% to 1353.9% year-on-year for the first half of 2025 [10][11] - Guolian Minsheng anticipates a net profit increase of approximately 1183% year-on-year for the first half of 2025 [12] - Gaode Infrared expects a net profit increase of 734.73% to 957.33% year-on-year for the first half of 2025 [13] Group 4 - Tianchen Co. expects a net profit increase of 640% to 786% year-on-year for the first half of 2025 [14] - Shenkai Co. anticipates a net profit increase of 183% to 278% year-on-year for the first half of 2025 [15] - Taishan Petroleum expects a net profit increase of 123% to 173% year-on-year for the first half of 2025 [16] Group 5 - Ruikeda expects a net profit increase of 132.44% to 163.22% year-on-year for the first half of 2025 [17] - Jinkong Electric anticipates a net profit of 120 million to 150 million yuan, turning from loss to profit [18] - Ankai Bus expects a net profit increase of 106.67% to 189.34% year-on-year for the first half of 2025 [19] Group 6 - Yara International expects a net profit increase of 170% to 244% year-on-year for the first half of 2025 [20] - Zhongshun Jierou anticipates a net profit increase of 59.85% to 82.68% year-on-year for the first half of 2025 [21] - Guoan Co. expects a loss of 25.9 million to 36.7 million yuan for the first half of 2025 [22] Group 7 - Huamei Holdings expects a loss of 46.5 million to 60 million yuan for the first half of 2025 [23] - AOC Technology anticipates a loss of 450 million to 490 million yuan for the first half of 2025 [24] - Shangrong Medical expects a loss of 7 million to 9.5 million yuan for the first half of 2025 [25] Group 8 - Hangang Co. expects a net loss of approximately 111 million yuan for the first half of 2025 [26] - Baili Electric's shareholder plans to reduce its stake by no more than 2% [27] - Dream Lily's major shareholder plans to reduce its stake by no more than 0.5% [28]

Group 1 - The core point of the announcement is that the company will use part of the idle convertible bond funds for cash management, which is deemed to not affect the normal operation and investment projects of the company [1][2] - The Supervisory Board meeting was held on July 11, 2025, with all three supervisors present, and the meeting complied with relevant laws and regulations [1] - The Supervisory Board unanimously agreed to use up to RMB 200 million of idle convertible bond funds for cash management, with a voting result of 3 in favor, 0 against, and 0 abstentions [2]

中信建投证券股份有限公司 关于常州银河世纪微电子股份有限公司 使用部分暂时闲置可转债募集资金进行现金管理的核查意见 中信建投证券股份有限公司（以下简称"中信建投"或"保荐机构"）作为 常州银河世纪微电子股份有限公司（以下简称"银河微电"或"公司"）向不特 定对象发行可转换公司债券的保荐机构，根据《证券发行上市保荐业务管理办法 （2025 年修正）》、《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规则适用指引第 1 号—规范运作》、《科创板上市 公司持续监管办法（试行）》等有关法律法规和规范性文件的要求，对银河微电 本次拟使用部分暂时闲置募集资金进行现金管理的情况进行了审慎核查，发表如 下意见： 一、募集资金基本情况 注：2021年11月10日及2021年11月26日，公司第二届董事会第十四次会议、2021年第三 次临时股东大会分别审议通过《关于拟使用超募资金投入建设及购买设备的议案》，同意使 用首次公开发行超募资金4,894.00万元，用于采购公司"车规级半导体器件产业化项目"所 需的部分光刻机、减薄机、划片机、装片机等设备。即车规级半导体器件产业化项目的投资 资金主要由可转债 ...