证券代码：688702 证券简称：盛科通信 公告编号：2025-024 苏州盛科通信股份有限公司 第二届监事会第七次会议决议公告 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。 遗漏。未发现参与公司 2025 年第三季度报告编制和审议的人员有违反保密规定 及损害公司利益的行为。 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 10 月 14 日以 电子邮件方式向全体监事发出第二届监事会第七次会议通知及相关材料，会议于 2025 年 10 月 28 日以现场结合通讯的方式在公司会议室召开。本次会议由监事 会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。 二、监事会会议审议情况 经与会监事审议表决，形成决议如下： （一）审议通过《关于公司 2025 年第三季度报告的议案》 监事会认为：公 ...

中国国际金融股份有限公司 关于苏州盛科通信股份有限公司 使用部分闲置募集资金进行现金管理事项的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为苏州盛科通 信股份有限公司（以下简称"盛科通信"或"公司"）的保荐机构，根据《上市公司募集资 金监管规则》《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 司自律监管指引第 1 号——规范运作》等有关法律、行政法规、部门规章及业务规则的 要求，对苏州盛科通信股份有限公司本次使用部分闲置募集资金（含超募资金）进行现 金管理的事项进行了认真、审慎核查，具体情况如下： 一、投资情况概述 （一）投资目的 为进一步规范公司募集资金的使用与管理，在不影响募集资金投资计划正常进行的 前提下，合理利用部分暂时闲置募集资金（含超募资金）进行现金管理，可以提高募集 资金使用效率。 （二）投资金额 在保证不影响公司募集资金投资计划正常进行的前提下，公司拟使用最高不超过人 民币 30,000 万元的部分闲置募集资金（含超募资金）进行现金管理。 （三） 资金来源 1、资金来源 | 发行名称 | 2023 | | | 年首次公开发行股份 | | --- ...

部分募投项目延期的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为苏州盛科通 信股份有限公司（以下简称"盛科通信"或"公司"）的保荐机构，根据《上海证券交易所 科创板股票上市规则》《上市公司募集资金监管规则》以及《上海证券交易所科创板上 市公司自律监管指引第 1 号——规范运作》等有关法律、行政法规、部门规章及业务规 则的要求，对苏州盛科通信股份有限公司部分募投项目延期事项进行了认真、审慎核查， 具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会（以下简称"中国证监会"）于 2023 年 7 月 13 日出 具的《关于同意苏州盛科通信股份有限公司首次公开发行股票注册的批复》（证监许可 〔2023〕1534 号），同意公司首次公开发行股票的注册申请。公司获准向社会公开发行 人民币普通股 5,000 万股，每股面值人民币 1.00 元，每股发行价为人民币 42.66 元，募 集资金总额为人民币 2,133,000,000.00 元，扣除发行费用后，实际募集资金净额为人民 币 2,004,215,801.87 元。 中国国际金融股份有限公司 关于苏州盛科通信股份有限公司 上 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥323,646,023.48, representing a year-on-year increase of 17.55%[3] - The total profit for the period was ¥33,125,228.65, with a net profit attributable to shareholders of ¥33,058,292.98[3] - Basic earnings per share for the quarter were ¥0.08, compared to ¥0.02 for the same period last year[4] - Total operating revenue for the first three quarters of 2025 reached ¥831.6 million, an increase of 2.7% compared to ¥807.5 million in the same period of 2024[17] - Net profit for the first three quarters of 2025 was ¥9.4 million, a significant recovery from a net loss of ¥76.2 million in the same period of 2024[18] - The company's basic earnings per share for the first three quarters of 2025 was ¥0.02, compared to a loss per share of ¥0.19 in the same period of 2024[19] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥227,653,456.08, reflecting a significant increase of 296.70%[3] - The company's cash flow from operating activities increased to ¥940.9 million, compared to ¥787.3 million in the previous year, reflecting a growth of 19.5%[20] - The net cash flow from operating activities was CNY 227,653,456.08, a significant increase from CNY 57,386,304.29 in the previous period, reflecting improved operational efficiency[21] - Cash inflow from investment activities totaled CNY 1,682,611,868.82, compared to CNY 1,134,087,983.43 last year, indicating a strong investment recovery[21] - The company recorded a cash inflow of CNY 1,676,600,000.00 from investment recoveries, significantly higher than CNY 1,125,000,000.00 previously[21] - The net cash flow from investment activities was CNY 602,484,435.81, up from CNY 548,898,688.15, showing positive investment performance[21] - The net cash flow from financing activities was negative at CNY -418,133.25, compared to CNY -156,064,332.40, indicating a reduction in financing activities[21] Research and Development - Research and development expenses totaled ¥112,064,335.87, accounting for 34.63% of revenue, a decrease of 3.90 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2025 were ¥351.3 million, up 6.4% from ¥330.2 million in 2024[17] Assets and Liabilities - The company's total assets increased by 1.24% to ¥2,695,170,953.03 compared to the end of the previous year[4] - Total current assets as of September 30, 2025, amount to ¥2,426,370,173.64, an increase from ¥2,348,884,067.03 as of December 31, 2024[14] - The company's total liabilities decreased slightly to ¥319.5 million from ¥328.8 million year-over-year[16] - The company reported a total equity attributable to shareholders of ¥2,375,681,897.90, an increase of 1.82% from the previous year[4] - The equity attributable to shareholders increased to ¥2.38 billion, up from ¥2.33 billion in the previous year, reflecting a growth of 1.5%[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,316[11] - The largest shareholder, China Zhinhua Electronics Group Co., Ltd., holds 87,172,346 shares, representing 21.26% of total shares[11] - The second largest shareholder, National Integrated Circuit Industry Investment Fund Co., Ltd., holds 61,500,200 shares, representing 15.00%[11] - The company has no pledged, marked, or frozen shares among its major shareholders[11] - The company has not reported any significant changes in shareholder participation in margin trading or securities lending[13] - There are no known related party transactions or concerted actions among shareholders beyond those disclosed[13] Operational Efficiency - The gross profit margin improved by 10.20 percentage points year-on-year due to supply chain optimization and changes in sales structure[8] - Total operating costs decreased to ¥860.0 million, down 5.0% from ¥905.4 million year-over-year[17] - The company paid CNY 257,485,657.47 in employee compensation, an increase from CNY 229,045,381.46, reflecting a commitment to workforce investment[21] - The cash outflow for operating activities totaled CNY 713,252,419.11, a decrease from CNY 729,877,590.43, indicating better cash management[21] Future Outlook - The company continues to focus on enhancing its market position through strategic initiatives and product development[8] - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[23] Currency Impact - The impact of exchange rate changes on cash and cash equivalents was CNY 884,966.83, contrasting with a negative impact of CNY -3,088,802.32 last year, suggesting improved currency stability[21]

Core Insights - The company reported a third-quarter revenue of 324 million yuan, representing a year-on-year increase of 17.55% [1] - The net profit for the third quarter was 33.0583 million yuan [1] - For the first three quarters, the total revenue reached 832 million yuan, showing a year-on-year growth of 2.98% [1] - The net profit for the first three quarters was 9.3692 million yuan [1]

Investment Rating - The industry investment rating is "Outperform the Market" (maintained) [3][36] Core Viewpoints - The report highlights that artificial intelligence (AI) is driving a semiconductor supercycle, with significant investments and collaborations in the sector, such as Anthropic's partnership with Google, which includes a deal for up to one million custom TPU chips [3] - Major memory manufacturers like Samsung and SK Hynix are expected to raise prices of DRAM and NAND storage products by up to 30% in response to the surge in AI-driven demand [3] - Amphenol reported a 53.35% year-on-year increase in revenue for Q3 2025, driven by the growing demand for data center solutions [3] - The report anticipates a substantial increase in overall computing power by 2035, predicting a growth of up to 100,000 times, emphasizing the transformative potential of general artificial intelligence [3] Summary by Sections 1. Market Review - The electronic industry saw a weekly increase of 8.49% from October 20 to October 24, with the communication sector leading at 11.55% [6] - The Philadelphia Semiconductor Index rose from 6,885.03 points to 6,976.94 points during the same period, indicating a positive trend since April 2025 [11] 2. Industry High-Frequency Data Tracking 2.1 Panel Prices - TV panel prices are expected to stabilize due to healthy inventory levels, with no significant changes anticipated for various sizes [17] 2.2 Memory Prices - Prices for DDR5 and DDR4 memory chips have shown an upward trend, with DDR5 increasing from $10.457 to $12.615 and DDR4 from $24.333 to $24.721 between October 20 and October 24 [21]

Core Insights - The semiconductor sector experienced a decline of 0.9% on October 23, with Dazhi Semiconductor leading the drop [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Semiconductor Sector Performance - Notable gainers included: - Xidian Co., Ltd. (301629) with a closing price of 214.12, up 13.09% and a trading volume of 37,700 [1] - Jiangbolong (301308) closed at 190.19, up 5.12% with a trading volume of 213,000 [1] - Pudian Co., Ltd. (688766) closed at 119.06, up 4.44% with a trading volume of 85,400 [1] - Major decliners included: - Dazhi Semiconductor (688691) closed at 134.00, down 11.41% with a trading volume of 116,800 [2] - Jinhaitong (603061) closed at 132.20, down 5.10% with a trading volume of 16,800 [2] - Tailin Micro (688591) closed at 47.01, down 4.70% with a trading volume of 115,900 [2] Capital Flow Analysis - The semiconductor sector saw a net outflow of 2.971 billion yuan from institutional investors, while retail investors contributed a net inflow of 2.597 billion yuan [2][3] - Notable capital flows included: - Demingli (001309) with a net inflow of 631 million yuan from institutional investors [3] - Jiangbolong (301308) had a net inflow of 263 million yuan from institutional investors [3] - Zhongke Lanyun (688332) experienced a net inflow of 56.43 million yuan from institutional investors [3]

Core Viewpoint - Shengke Communication experienced a 5.01% decline in stock price, closing at 115.37 CNY per share, with a total market capitalization of 47.302 billion CNY as of October 23 [1] Company Overview - Shengke Communication, established on January 31, 2005, is located in Suzhou Industrial Park, Jiangsu Province. The company specializes in the research, design, and sales of Ethernet switch chips and related products [1] - The revenue composition of Shengke Communication includes: Ethernet switch chips (72.43%), Ethernet switch chip modules (11.94%), Ethernet switches (10.48%), customized solutions and others (3.18%), and licensing (1.97%) [1] Shareholder Analysis - Noan Fund's Noan Growth Mixed A (320007) is among the top ten circulating shareholders of Shengke Communication, holding 2.816 million shares, unchanged from the previous period, representing 1.4% of circulating shares. The estimated floating loss today is approximately 17.1214 million CNY [2] - Noan Growth Mixed A (320007) was established on March 10, 2009, with a latest scale of 18.447 billion CNY. Year-to-date return is 33.62%, ranking 2192 out of 8159 in its category; the one-year return is 34.21%, ranking 1819 out of 8030; and since inception, the return is 176.2% [2] Fund Performance - The fund manager of Noan Growth Mixed A (320007) is Liu Huiying, who has been in the position for 3 years and 83 days. The total asset scale is 23.674 billion CNY, with the best fund return during the tenure being 68.38% and the worst being 10.61% [3] Top Holdings - Noan Fund's Noan Yixin Flexible Allocation Mixed A (002292) is a major holding in Shengke Communication, with 48,300 shares held, unchanged from the previous period, accounting for 5.97% of the fund's net value. The estimated floating loss today is about 293,700 CNY [4] - Noan Yixin Flexible Allocation Mixed A (002292) was established on January 22, 2016, with a latest scale of 43.6534 million CNY. Year-to-date return is 31.59%, ranking 2454 out of 8159; the one-year return is 33.72%, ranking 1869 out of 8030; and since inception, the return is 132.09% [4] Fund Manager Profile - The fund manager of Noan Yixin Flexible Allocation Mixed A (002292) is Chen Yanpeng, who has been in the position for 5 years and 107 days. The total asset scale is 3.078 billion CNY, with the best fund return during the tenure being 78.5% and the worst being 20.56% [5]

Core Viewpoint - Shengke Communication's stock price increased by 5.13% to 123.08 CNY per share, with a total market capitalization of 50.463 billion CNY as of October 22 [1] Company Overview - Shengke Communication, established on January 31, 2005, is located in Suzhou Industrial Park, Jiangsu Province. The company specializes in the research, design, and sales of Ethernet switch chips and related products [1] - The revenue composition of Shengke Communication includes: Ethernet switch chips (72.43%), Ethernet switch chip modules (11.94%), Ethernet switches (10.48%), customized solutions and others (3.18%), and licensing (1.97%) [1] Shareholder Information - Noan Fund's Noan Growth Mixed A (320007) is among the top ten circulating shareholders of Shengke Communication, holding 2.816 million shares, unchanged from the previous period, representing 1.4% of circulating shares. The estimated floating profit today is approximately 16.9243 million CNY [2] - Noan Growth Mixed A (320007) was established on March 10, 2009, with a latest scale of 18.447 billion CNY. Year-to-date return is 33.84%, ranking 2264 out of 8160 in its category; the one-year return is 32.4%, ranking 2194 out of 8026; and since inception, the return is 176.65% [2] Fund Manager Information - The fund manager of Noan Growth Mixed A (320007) is Liu Huiying, who has been in the position for 3 years and 82 days. The total asset scale is 23.674 billion CNY, with the best fund return during the tenure being 64.69% and the worst being 8.69% [3] Fund Holdings - Noan Fund's Noan Yixin Flexible Allocation Mixed A (002292) is a major holding in Shengke Communication, with 48,300 shares held, unchanged from the previous period, representing 5.97% of the fund's net value. The estimated floating profit today is approximately 290,300 CNY [4] - Noan Yixin Flexible Allocation Mixed A (002292) was established on January 22, 2016, with a latest scale of 43.6534 million CNY. Year-to-date return is 31.96%, ranking 2538 out of 8160; the one-year return is 34.39%, ranking 1959 out of 8026; and since inception, the return is 132.73% [4] Additional Fund Manager Information - The fund manager of Noan Yixin Flexible Allocation Mixed A (002292) is Chen Yanpeng, who has been in the position for 5 years and 106 days. The total asset scale is 3.078 billion CNY, with the best fund return during the tenure being 75.19% and the worst being 17.62% [5]

Group 1 - The core point of the news is the performance and market position of Shengke Communication, which saw a stock price increase of 5.13% to 123.08 CNY per share, with a total market capitalization of 50.463 billion CNY [1] - Shengke Communication, established on January 31, 2005, specializes in the research, design, and sales of Ethernet switching chips and related products, with its main revenue sources being Ethernet switching chips (72.43%), Ethernet switching chip modules (11.94%), Ethernet switches (10.48%), customized solutions and others (3.18%), and licensing (1.97%) [1] - The company was listed on September 14, 2023, and has a trading volume of 403 million CNY and a turnover rate of 1.66% as of the report [1] Group 2 - From the perspective of fund holdings, Shengke Communication is a top ten holding of the Vanguard Fund, specifically the Vanguard Jingyi A (003586), which held 1,079 shares in the second quarter, unchanged from the previous period, representing 2.97% of the fund's net value [2] - The Vanguard Jingyi A fund was established on November 18, 2016, with a current scale of 1.0139 million CNY, and has achieved a year-to-date return of 17.15% and a one-year return of 22.49% [2]