证券代码：688790 证券简称：昂瑞微 公告编号：2026-008 北京昂瑞微电子技术股份有限公司 关于增加设立募集资金专户并签订募集资金专户存 储三方监管协议的公告 根据中国证券监督管理委员会于 2025 年 10 月 22 日出具的《关于同意北京 昂瑞微电子技术股份有限公司首次公开发行股票注册的批复》（证监许可〔2025〕 2348 号），北京昂瑞微电子技术股份有限公司（以下简称"公司"）首次公开 发行人民币普通股 2,488.2922 万股，每股发行价格为人民币 83.06 元，募集资金 总额为人民币 206,677.55 万元，扣除发行费用（不含增值税）人民币 13,445.28 万元后，募集资金净额为人民币 193,232.27 万元。上述资金已全部到位，经中审 众环会计师审验并于 2025 年 12 月 11 日出具《北京昂瑞微电子技术股份有限公 司验证报告》（众环验字（2025）第 0200032 号）。公司已开立了募集资金专项 账户，对募集资金实行专户存储，并与账户开设银行、保荐人签订了募集资金监 管协议。 二、本次增加设立募集资金专项账户情况及签订《募集资金专户存储三方 监管协议》情况 公 ...

Financial Performance Summary - In 2025, the company achieved total operating revenue of 188,405.10 million yuan, a decrease of 10.34% compared to the previous year [3] - The net profit attributable to the parent company was -11,912.41 million yuan, representing an increase in losses of 84.09% year-on-year [3] - The net profit attributable to the parent company after deducting non-recurring gains and losses was -16,453.14 million yuan, with losses expanding by 49.54% compared to the previous year [3] - As of the end of the reporting period, total assets amounted to 352,969.64 million yuan, an increase of 105.07% from the beginning of the period [3] - The equity attributable to the parent company was 278,675.13 million yuan, up 185.16% from the beginning of the period [3] - The net asset value per share attributable to the parent company was 28.00 yuan, an increase of 113.87% from the beginning of the period [3] Factors Affecting Performance - In 2025, some customers adjusted their procurement rhythm based on their terminal sales expectations and supply chain conditions, leading to a temporary slowdown in order fulfillment [4] - The company strategically optimized its customer and order structure, reducing low-margin and highly competitive projects, which negatively impacted performance [4] - Changes in customer demand structure, inventory strategies, and material price increases led to a decline in the realizable net value of certain products, prompting the company to recognize impairment losses on inventory [4] - To address these challenges, the company plans to enhance market development efforts, expand collaborations with existing RF front-end chip brand customers, and strengthen its presence in emerging application scenarios such as industrial, medical, and automotive sectors [4] Significant Financial Changes - The company experienced significant declines in operating profit, total profit, net profit attributable to the parent company, and basic earnings per share, primarily due to customer procurement adjustments, business structure optimization, and inventory impairment [5] - Total assets, equity attributable to the parent company, and net asset value per share saw increases exceeding 30% year-on-year, attributed to the initial public offering in December 2025, which raised additional capital [5][6] Asset Impairment Preparation - The company plans to recognize a total asset impairment loss of approximately 7,320.66 million yuan for the 2025 fiscal year, based on preliminary impairment testing [10] - This includes a credit impairment loss of 207.52 million yuan for receivables and an asset impairment loss of 7,113.14 million yuan for inventory [12][14] - The recognition of these impairment losses is expected to reduce the company's pre-tax profit by approximately 7,320.66 million yuan for the 2025 fiscal year [15]

Group 1 - The core viewpoint of the article is that Angrui Microelectronics (688790.SH) reported a significant decline in its financial performance for the fiscal year 2025, with total revenue decreasing by 10.34% compared to the previous year [1] - The company achieved total operating revenue of 1.884 billion yuan for 2025 [1] - The net profit attributable to the parent company's owners was a loss of 119 million yuan, which represents an increase in losses by 84.09% year-on-year [1] - The net profit attributable to the parent company after deducting non-recurring gains and losses was a loss of 165 million yuan, reflecting an increase in losses by 49.54% compared to the previous year [1]

Group 1 - The core point of the article is that Angrui Microelectronics reported a total operating revenue of 1,884.05 million yuan for the fiscal year 2025, which represents a decrease of 10.34% compared to the same period last year [2] Group 2 - The company’s performance indicates a significant decline in revenue, suggesting potential challenges in its business operations or market conditions [2] - The reported figures highlight the need for further analysis on the factors contributing to the revenue drop [2] - The announcement was made on February 27, indicating the company's commitment to transparency in financial reporting [2]

证券代码：688790 证券简称：昂瑞微 公告编号：2026-007 北京昂瑞微电子技术股份有限公司 关于 2025 年度拟计提资产减值准备的提示性公告 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。 一、本次拟计提资产减值准备的情况 为客观、公允地反映北京昂瑞微电子技术股份有限公司（以下简称"公司"） 的财务状况和经营状况，公司根据《企业会计准则》和公司会计政策的相关规定， 对合并报表范围内各公司截至 2025 年 12 月 31 日所属资产进行了初步减值测试， 本着谨慎性原则，拟对其中可能存在减值迹象的相关资产计提减值准备，预计 2025 年年度计提各类资产减值损失金额合计约 7,320.66 万元，本次计提资产减 值损失情况未经会计师事务所审计。 二、拟计提减值准备事项的具体情况 （一）信用减值损失 根据《企业会计准则第 22 号——金融工具确认和计量》的相关规定，公司 以预期信用损失为基础，对于应收票据、应收账款、其他应收款等应收款项，若 某一客户信用风险特征与组合中其他客户显著不同，或该客户信用风险特征发生 显著 ...

Financial Performance - In 2025, the company achieved total operating revenue of 188,405.10 million yuan, a decrease of 10.34% compared to the previous year[2] - The net profit attributable to the parent company was -11,912.41 million yuan, an increase in loss of 84.09% year-on-year[5] - The basic earnings per share decreased to -1.55 yuan, compared to -0.87 yuan in the previous year[2] Assets and Equity - The total assets at the end of the reporting period were 352,969.64 million yuan, an increase of 105.07% from the beginning of the period[3] - The equity attributable to the parent company increased by 185.16% to 278,675.13 million yuan[5] - The significant increase in total assets and equity is attributed to the initial public offering of shares in December 2025, which raised substantial funds[8] Market Strategy - The company plans to enhance market expansion efforts, focusing on new applications in industrial, medical, and automotive sectors[7] - The company will continue to strengthen cooperation with existing RF front-end chip brand customers and accelerate the introduction of a full range of products[7] Inventory and Risks - The company has recognized impairment losses on certain inventories due to structural changes in customer demand and rising material costs[7] - There are no major uncertainties affecting the accuracy of the performance report as of the announcement date[9]

Core Viewpoint - Angrui Micro reported a total operating revenue of 1.884 billion yuan for the fiscal year 2025, representing a year-on-year decline of 10.34%. The net profit was a loss of 119 million yuan, compared to a loss of 64.7092 million yuan in the same period last year [1] Group 1 - In 2025, some customers adjusted their procurement rhythm based on their terminal sales expectations and supply chain conditions, leading to a temporary slowdown in delivery pace [1] - The company is pursuing high-quality development by optimizing its customer and order structure, strategically reducing involvement in low-margin and highly competitive projects, which has impacted its performance [1] - Certain products were affected by structural changes in customer demand, inventory strategies, and rising material costs, resulting in their recoverable net value being lower than their book value. Consequently, the company made impairment provisions for some inventories in accordance with relevant accounting standards, which also affected its current performance [1]

Group 1 - On February 25, Angrui Microelectronics experienced a slight increase of 2.21% in stock price, with a trading volume of 92.8467 million yuan [1] - The financing data for Angrui Microelectronics on the same day showed a financing purchase amount of 7.2251 million yuan, while the financing repayment was 12.0909 million yuan, resulting in a net financing outflow of 4.8657 million yuan [1][2] - As of February 25, the total balance of margin trading for Angrui Microelectronics was 112 million yuan, which accounts for 6.28% of its circulating market value [2] Group 2 - Angrui Microelectronics, established on July 3, 2012, is located in Haidian District, Beijing, and specializes in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips [2] - The company's main business revenue composition includes RF front-end chips at 78.54%, RF SoC chips at 20.78%, and other products and services at 0.69% [2] - For the period from January to September 2025, Angrui Microelectronics reported an operating income of 1.335 billion yuan, a year-on-year decrease of 20.69%, and a net profit attributable to shareholders of -62.7719 million yuan, a year-on-year decrease of 426.66% [2]

Group 1 - The core viewpoint of the news is that Angrui Microelectronics has experienced fluctuations in its stock price and financial performance, with a notable decrease in revenue and profit in recent months [1][2]. - As of February 25, Angrui Microelectronics' stock price increased by 2.07% to 147.60 CNY per share, with a total market capitalization of 14.691 billion CNY [1]. - The company has seen a net inflow of 4.1464 million CNY in main funds, with significant buying activity from large orders [1]. Group 2 - For the period from January to September 2025, Angrui Microelectronics reported a revenue of 1.335 billion CNY, representing a year-on-year decrease of 20.69% [2]. - The net profit attributable to the parent company was -62.7719 million CNY, reflecting a significant year-on-year decline of 426.66% [2]. - The company specializes in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips, with the majority of its revenue coming from RF front-end chips (78.54%) [1].

Core Insights - The RF front-end module is a critical subsystem that directly impacts terminal communication quality, driven by the acceleration of global 5G commercialization and the increasing demand for multi-band compatibility in terminals [1][5] - The global market for RF front-end modules is projected to reach $14.881 billion by 2025, with modules accounting for nearly 70% of the market share [5] - China's RF front-end market is expected to grow from 22.9 billion yuan in 2020 to 33.6 billion yuan in 2024, and is projected to exceed 53 billion yuan by 2029, becoming the largest regional market globally [6][7] Industry Overview - RF front-end modules (RFFE) serve as the core components in wireless communication systems, integrating multiple RF devices into a single package to perform essential tasks such as signal processing [2][4] - The classification of RF front-end modules includes power amplifiers, low-noise amplifiers, filters, RF switches, and duplexers, among others, catering to various application scenarios [3] Market Dynamics - The demand for RF front-end devices is increasing due to the rapid commercialization of 5G, with a notable rise in the need for high-end products associated with key technologies like millimeter-wave communication [5] - The global RF front-end market is expected to grow at a compound annual growth rate (CAGR) of approximately 3.4% from 2025 to 2030, reaching $17.5 billion by 2030 [5] China's Market Growth - China's RF front-end market is experiencing rapid growth, driven by the acceleration of 5G commercialization, the rise of domestic smartphone brands, and the expansion of emerging applications like IoT [6][10] - The domestic market's growth is supported by policies promoting the semiconductor industry, which have created a robust support system for the RF front-end module sector [4] Industry Chain Analysis - The RF front-end module industry chain in China includes upstream suppliers of EDA design software and semiconductor materials, with domestic breakthroughs in certain areas [8] - Midstream focuses on module design, manufacturing, and testing, with local companies narrowing the technology gap with international giants [8] Competitive Landscape - The current market landscape shows a coexistence of international dominance and domestic breakthroughs, with major international companies holding about 76% of the global market share [12] - Domestic companies like Weijie Chuangxin, Huizhiwei, and Zhuoshengwei are gradually increasing their market share through continuous R&D and technological advancements [12] Future Development Trends - The RF front-end module industry in China is expected to develop along three main lines: technology, industry, and application, focusing on high integration and energy efficiency [13] - The trend of domestic substitution will deepen, with local companies aiming to penetrate high-end markets and enhance their competitiveness [14] - Application scenarios are expanding from consumer electronics to various fields, including smart vehicles and satellite internet, creating new growth opportunities [16]