Core Viewpoint - The performance of Ethernet switch chips, as a core component of network devices, directly determines the processing capability and scalability of these devices. The demand for these chips is closely related to the technological iterations and scenario extensions in the switch market. The Chinese Ethernet switch chip industry is projected to reach a market size of approximately 16.2 billion yuan in 2024, reflecting a year-on-year growth of 7.95%, driven by ongoing advancements in digital transformation and network infrastructure construction [1][10]. Industry Overview - Ethernet switch chips are critical components in network devices, enabling data exchange and routing functions in local area networks (LAN) and data center networks. These chips are specialized integrated circuits (ASICs) designed for network applications, featuring multiple ports and routing tables to efficiently forward data frames based on target MAC addresses [6][4]. Market Size - The Chinese Ethernet switch chip market is expected to grow to approximately 16.2 billion yuan in 2024, marking a 7.95% increase from the previous year. This growth is indicative of the continuous progress in domestic network infrastructure and the sustained demand driven by digital transformation [10][1]. Key Companies' Performance - The Ethernet switch chip industry in China exhibits high market concentration, with foreign giants dominating the market. However, domestic companies like Shengke Communication and Yutai Micro are making significant strides. Shengke Communication is the only domestic company to enter the commercial 10G and above chip market, launching the Arctic series chip with 800G support in 2024. Yutai Micro focuses on automotive Ethernet physical layer chips, with plans to release a vehicle-grade TSN chip series by 2025 [12][13]. Industry Development Trends 1. **Technological Upgrades**: The demand for higher performance and lower power consumption in Ethernet switch chips is increasing due to the rapid development of data centers, cloud computing, and artificial intelligence. Companies are focusing on optimizing chip architecture and adopting advanced manufacturing processes to balance performance and power efficiency [17]. 2. **Breaking Foreign Monopoly**: Domestic companies are accelerating the process of replacing foreign products in the Ethernet switch chip market. With significant technological advancements, domestic firms are gradually capturing market share in the high-end chip sector [19][18]. 3. **Emerging Technologies**: The rise of artificial intelligence, the Internet of Things (IoT), and industrial internet technologies is creating new opportunities for the Ethernet switch chip industry. Chips need to support higher data transmission rates and lower latency while ensuring security and reliability for various applications [21].

Group 1 - The semiconductor sector opened mostly lower, indicating a negative market sentiment [1] - Shengke Communication experienced a decline of over 7% [1] - Companies such as Cambricon, Chipone, Guomian Technology, Haiguang Information, and Dongxin Technology all opened lower, with declines exceeding 5% [1]

特此公告。 苏州盛科通信股份有限公司董事会 证券的公司信息披露内容与格式准则第 15 号——权益变动报告书》等法律法规 及规范性文件规定，本次股东权益变动不涉及信息披露义务人披露权益变动报告 书。 继续督促其严格遵守减持相关规定，按照相关规定履行信息披露义务。敬请广大 投资者注意投资风险。 证券代码：688702 证券简称：盛科通信 公告编号：2025-020 苏州盛科通信股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的 提示性公告 股东国家集成电路产业投资基金股份有限公司保证向本公司提供的信息 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一 致。 重要内容提示： 权益变动方向 比例增加□ 比例减少 权益变动前合计比例 17.09% 权益变动后合计比例 17.00% 本次变动是否违反已作出的承 是□ 否 诺、意向、计划 是否触发强制要约收购义务 是□ 否 一、 信息披露义务人及其一致行动人的基本信息 □控股股东/实际控制人及其一致行动人 其他 5%以上大股东及其一致行动人 投资者及其一致行动人的身份 □合并口径第一大股东及其一 ...

证券代码：688702 证券简称：盛科通信 公告编号：2025-020 苏州盛科通信股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的 提示性公告 股东国家集成电路产业投资基金股份有限公司保证向本公司提供的信息 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一 致。 重要内容提示： | 权益变动方向 | 比例增加□ | | 比例减少☑ | | --- | --- | --- | --- | | 权益变动前合计比例 | 17.09% | | | | 权益变动后合计比例 | 17.00% | | | | 本次变动是否违反已作出的承 | 是□ | 否☑ | | | 诺、意向、计划 | | | | | 是否触发强制要约收购义务 | 是□ | 否☑ | | 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | □控股股东/实际控制人及其一致行动人 | | --- | --- | | | ☑其他 5%以上大股东及其一致行动人 | | 投资者及其一致行动人的身份 | □合并口径第一大股东及其一致行动人（仅适用 | | | 于无控股 ...

南财智讯8月25日电，盛科通信公告，持股5%以上股东国家集成电路产业投资基金股份有限公司通过集 中竞价方式减持公司股份34.91万股，占公司总股本的比例从17.09%减少至17.00%，权益变动触及1%刻 度。本次权益变动不触及要约收购，不会对公司治理结构及持续经营产生重大影响。国家集成电路产业 投资基金股份有限公司将继续按照相关规定履行信息披露义务。 ...

苏州盛科通信股份有限公司 第二届监事会第六次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 苏州盛科通信股份有限公司（以下简称"公司"）于 2025 年 7 月 31 日以电 子邮件方式向全体监事发出第二届监事会第六次会议通知及相关材料，会议于 主席阮英轶先生主持，应出席监事 3 人，实际出席监事 3 人。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》（以下简称"《公司法》"）及 《苏州盛科通信股份有限公司章程》（以下简称"《公司章程》"）的有关规定， 表决形成的决议合法、有效。 证券代码：688702 证券简称：盛科通信 公告编号：2025-018 表决结果：3 票同意，0 票反对，0 票弃权。 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的《盛 科通信 2025 年半年度报告》及《盛科通信 2025 年半年度报告摘要》。 （二）审议通过《关于 2025 年半年度募集资金存放与实际使用情况的专项 报告的议案》 监事会认为：根据《上市公司募 ...

Fundraising Overview - The company successfully raised a total of RMB 2,000 million through the issuance of 50 million shares at a price of RMB 42.66 per share, with all funds received by September 8, 2023 [1][2] - As of June 30, 2025, the company has utilized RMB 707.46 million of the raised funds, with RMB 165.61 million used during the reporting period [1][2] Fund Management - The company has established a fundraising management system to regulate the storage, use, and supervision of the raised funds, ensuring they are kept in dedicated accounts [1][2] - A tripartite supervision agreement was signed with various banks to ensure proper management of the funds [1][2] Fund Usage - The company has not used idle funds for temporary working capital during the reporting period [2] - A total of RMB 300 million of excess funds has been permanently allocated to supplement working capital, with RMB 600 million used cumulatively for this purpose [2][3] - The project "Next-Generation Network Switch Chip R&D and Production" has been completed, with total investment of RMB 600 million and no remaining funds [2][3] Cash Management - The company has engaged in cash management of idle funds, investing up to RMB 800 million in safe, liquid financial products, with a total of RMB 325.39 million currently managed [2][3] Project Status - The company has not changed any fundraising project during the reporting period, and there have been no external transfers or replacements of projects [2][3] - The project "Next-Generation Network Switch Chip R&D and Production" has reached its intended use status, with a total investment of RMB 589.63 million [3]

Core Viewpoint - Suzhou Shengke Communication Co., Ltd. is committed to enhancing operational quality and investor returns through a comprehensive action plan aimed at improving management, governance, and market confidence, thereby contributing to high-quality economic development [2][10]. Group 1: R&D Investment and Technological Innovation - The company is a leading domestic designer of Ethernet switch chips, which are essential for various network infrastructures, and has established a strong market position through over a decade of technological accumulation [2][3]. - Shengke Communication maintains a high R&D expense ratio of 47.10% of revenue, with a total of 405 R&D personnel, representing 75.84% of the workforce, to ensure continuous product innovation and technological advancement [3][4]. - The company has developed 11 core technologies and holds 1,465 intellectual property applications, including 1,268 invention patents, demonstrating its commitment to innovation and market leadership [3][4]. Group 2: Business Focus and Ecosystem Development - The main business involves the R&D, design, and sales of Ethernet switch chips, which are crucial for the information technology industry, especially as network communication technologies evolve [5][6]. - Despite a 4.56% decline in revenue to 50,795.40 million yuan, the company is focused on enhancing product quality and expanding its application fields to adapt to market demands [5][6]. - The company aims to strengthen its market position by deepening collaborations with existing clients and exploring new opportunities in emerging fields such as cloud computing and edge computing [6][7]. Group 3: Corporate Governance and Investor Relations - Shengke Communication emphasizes the importance of a robust governance structure and effective internal controls to protect investor rights, particularly for minority shareholders [7][8]. - The company has established a coordinated governance structure involving the shareholders' meeting, board of directors, and supervisory board, ensuring compliance and transparency in operations [7][8]. - It actively engages in investor relations through various channels, including investor hotlines and performance briefings, to enhance communication and address investor concerns [8][9]. Group 4: ESG Commitment and Sustainable Development - The company integrates ESG principles into its operations, focusing on social responsibility and stakeholder engagement to enhance management practices [10]. - Shengke Communication aims to align its corporate culture and strategy with sustainable development goals, ensuring a balance between economic performance and social responsibility [10]. Group 5: Continuous Evaluation and Market Image Maintenance - The company will continuously assess its action plan to ensure high-quality development and maintain a positive market image while fulfilling its responsibilities to investors [10][11].

Core Viewpoint - Suzhou Shengke Communication Co., Ltd. reported a net loss attributable to shareholders of 23.69 million yuan for the first half of 2025, continuing its trend of unprofitability due to a long-term development strategy focused on R&D investment and market expansion [2]. Financial Performance - The net profit attributable to shareholders was -23.69 million yuan, and the net profit after deducting non-recurring gains and losses was -62.82 million yuan for the first half of 2025 [2]. - Cumulative unabsorbed losses reached 155.63 million yuan as of June 30, 2025 [2]. - Total assets decreased by 3.06% from the end of the previous year, amounting to 2.58 billion yuan [2]. - Operating revenue for the period was 507.95 million yuan, a decline of 4.56% compared to the same period last year [2]. Strategic Focus - The company emphasizes a long-term development strategy, increasing R&D investment and expanding its R&D team to build a competitive edge in high-end products through technological innovation [2]. - In the mid-range and low-end product segments, the company is actively working on product line extensions and upgrades to capitalize on domestic market opportunities [2]. - The company acknowledges that if market expansion for its products does not meet expectations, it could significantly impact profitability and delay the timeline for achieving profitability [2].

Summary of Conference Call Records Industry Overview - The conference call primarily discusses the **domestic computing power industry** in China, particularly focusing on the developments and future prospects of **AI and large models** [1][3][4]. Key Points and Arguments 1. **Increased Capital Expenditure**: Major companies are showing enhanced confidence in investing in AI and large models, with expectations of capital expenditure growth in 2026, which is likely to boost domestic computing power demand [1][3]. 2. **Core Operating Data Disclosure**: Companies like Tencent and Kuaishou have begun to disclose key operational data, such as token consumption, improving market sentiment towards domestic computing power [1][3]. 3. **Model and Application Updates**: Companies including Minimax and Kuaishou have released updates to their models and applications, such as Deepsec V3.1, positively impacting market sentiment [1][3]. 4. **Supply Chain Changes**: Major companies have started to accept domestic chips, with widespread application in the internet sector since Q3, indicating positive changes on the supply side [1][3]. 5. **Export Control Uncertainties**: Recent uncertainties regarding H20 export controls and potential halts in production provide domestic computing power with time and space for product iteration and capacity enhancement [1][4]. 6. **Upcoming Product Launches**: A new wave of domestic computing power products is expected to be launched in 2026, with performance comparable to NVIDIA's H100 and H800, allowing for increased market share due to trade friction limiting overseas chip procurement [1][4]. Additional Important Insights 1. **Long-term Growth Prospects**: The future outlook for the domestic computing power sector is optimistic, with anticipated new product releases and enhanced competitiveness [4][8]. 2. **Technological Adaptation**: The introduction of U18M 0 data representation is expected to improve performance and efficiency in both domestic and NVIDIA cards, indicating a significant engineering optimization [5][6]. 3. **Market Position of Shengke Communication**: Shengke Communication holds a unique position in the domestic computing power supply chain, with a product range that spans from 100G to 25.6T switching capacity, and is well-positioned to benefit from the increasing demand for domestic chips [2][10][12]. 4. **Server Sector Dynamics**: The server sector is experiencing high demand, driven by the growth of domestic AI chips and the increasing acceptance of these chips by operators, suggesting a positive outlook for companies like Inspur and Ziguang [16][18]. Conclusion The domestic computing power industry is poised for growth, driven by increased investments in AI, positive market sentiment from key operational disclosures, and significant technological advancements. Companies like Shengke Communication are strategically positioned to capitalize on these trends, while the server sector remains robust amid rising demand for AI capabilities.