Performance Forecast - The company anticipates a net loss attributable to shareholders of the parent company for the year 2025, estimated between -110 million to -150 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between -130 million to -190 million yuan [2] Previous Year Performance - In the same period last year, the total profit was -64.71 million yuan, with a net profit attributable to shareholders of the parent company also at -64.71 million yuan [2] - The net profit after deducting non-recurring gains and losses was -110.03 million yuan, and the earnings per share were -0.87 yuan [2] Reasons for Performance Changes - The performance decline is attributed to clients adjusting their procurement schedules based on their sales expectations and supply chain conditions, leading to a temporary slowdown in product deliveries [2] - The company is strategically optimizing its customer and order structure, reducing low-margin and highly competitive projects, which has impacted performance [2] - Changes in customer demand, inventory strategies, and rising material costs have led to a lower realizable net value of certain products, prompting the company to make impairment provisions for some inventory [2] - To address these challenges, the company plans to enhance market development efforts, expand collaborations with existing RF front-end chip brand clients, and increase overseas market penetration to improve overall competitiveness [2]

Core Viewpoint - The company, Angrui Micro, anticipates a net profit loss attributable to shareholders of between 110 million and 150 million yuan for the year 2025 due to various operational challenges [1] Group 1: Financial Performance - The expected net profit loss for 2025 is projected to be between 110 million and 150 million yuan [1] - The company is experiencing a slowdown in order fulfillment as some clients adjust their purchasing schedules based on their terminal sales expectations and supply chain conditions [1] Group 2: Strategic Adjustments - In pursuit of high-quality development, the company is strategically optimizing its customer and order structure, which includes a reduction in low-margin and highly competitive projects [1] - The decision to focus on higher-quality projects has had a negative impact on the company's performance [1] Group 3: Inventory and Asset Valuation - Certain products have been affected by structural changes in customer demand, inventory strategies, and rising material costs, leading to a lower net realizable value than their book value [1] - The company has made provisions for inventory impairment in accordance with the relevant requirements of the Accounting Standards for Enterprises, which has also impacted its current performance [1]

Core Viewpoint - Angrui Microelectronics (688790.SH) is expected to report a net loss attributable to shareholders of the parent company ranging from -110 million to -150 million yuan for the year 2025, with a net profit excluding non-recurring gains and losses projected between -130 million and -190 million yuan [1] Group 1: Financial Performance - The company anticipates a significant net loss for 2025 due to adjustments in procurement rhythms by some clients based on their terminal sales expectations and supply chain conditions [1] - The company is facing challenges from structural changes in customer demand, inventory strategies, and rising material costs, leading to a lower realizable net value of certain products compared to their book value [1] - As a result of these factors, the company has made provisions for inventory impairment in accordance with relevant accounting standards, impacting its current performance [1] Group 2: Strategic Response - To address the anticipated challenges, the company plans to enhance market development efforts by expanding collaborations with existing RF front-end chip brand clients and accelerating the introduction of its full product range [1] - The company aims to strengthen its presence in emerging application scenarios such as industrial, medical, and automotive sectors while also increasing its focus on overseas market expansion to improve overall competitiveness [1]

Core Viewpoint - The company Angruiwei announced an expected net loss for the year 2025, projecting a loss attributable to shareholders of the parent company between -110 million and -150 million yuan, with a net profit excluding non-recurring gains and losses expected to be between -130 million and -190 million yuan [1] Financial Projections - The projected net profit attributable to shareholders of the parent company is expected to be between -110 million and -150 million yuan [1] - The net profit attributable to shareholders of the parent company, after excluding non-recurring gains and losses, is projected to be between -130 million and -190 million yuan [1]

Core Viewpoint - Angrui Microelectronics (688790.SH) is expected to report a net loss attributable to shareholders of the parent company ranging from -110 million to -150 million yuan for the year 2025, with a net profit excluding non-recurring gains and losses projected between -130 million and -190 million yuan [1] Group 1: Financial Performance - The company anticipates a significant net loss for 2025 due to adjustments in procurement rhythms by some clients based on their terminal sales expectations and supply chain conditions [1] - The net realizable value of certain products has fallen below their book value, prompting the company to make impairment provisions for some inventory, which has negatively impacted current performance [1] Group 2: Strategic Adjustments - In pursuit of high-quality development, the company is strategically optimizing its customer and order structure, leading to a reduction in low-margin and highly competitive projects, which has affected overall performance [1] - The company plans to enhance market development efforts by expanding collaborations with existing RF front-end chip brand clients and accelerating the introduction of a full range of products [1] - There is a focus on increasing efforts in overseas market expansion to improve the company's overall competitiveness [1]

Financial Performance - The company expects a net loss attributable to shareholders of the parent company for 2025 to be between -110 million yuan and -150 million yuan[3]. - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is projected to be between -130 million yuan and -190 million yuan[3]. - In the same period last year, the total profit was -64.71 million yuan, and the net profit attributable to shareholders of the parent company was also -64.71 million yuan[4]. - The company reported a loss per share of -0.87 yuan in the previous year[5]. Performance Challenges - The decline in performance is attributed to clients adjusting their procurement schedules based on sales expectations and supply chain conditions, leading to a slowdown in order fulfillment[6]. - Inventory impairment provisions were made due to structural changes in customer demand and rising material costs, impacting the company's performance[7]. Strategic Initiatives - The company is strategically optimizing its customer and order structure, reducing low-margin projects to pursue high-quality development[6]. - The company plans to enhance market expansion efforts, including broadening cooperation with existing RF front-end chip brand clients and exploring new application scenarios in industrial, medical, and automotive sectors[7]. - There is a focus on increasing overseas market development to improve overall competitiveness[7]. Financial Reporting - The financial data in the earnings forecast is preliminary and has not been audited by registered accountants, with the final figures to be disclosed in the audited annual report[8].

格隆汇1月27日｜昂瑞微公告，预计2025年年度归母净利润亏损1.1亿元到1.5亿元。2025年，部分客户基 于因自身终端销售预期及供应链情况调整了采购节奏，阶段性放缓了提货节奏。公司为追求高质量发 展，主动优化客户与订单结构，战略性收缩了部分低毛利、竞争激烈的项目，对公司业绩造成一定影 响。另外，部分产品受客户需求结构性变化、备货策略及材料涨价等因素影响导致其可变现净值低于账 面价值，公司根据《企业会计准则第8号——资产减值》的相关要求，对部分存货计提减值准备，亦对 公司本期业绩产生影响。 ...

Core Viewpoint - The company expects a net profit loss attributable to shareholders of between 110 million to 150 million yuan for the year 2025 due to various operational challenges [1] Group 1: Financial Performance - The anticipated net profit loss for 2025 is projected to be between 110 million to 150 million yuan [1] - The company is experiencing a slowdown in order fulfillment as some clients adjust their purchasing schedules based on their terminal sales expectations and supply chain conditions [1] Group 2: Strategic Adjustments - The company is actively optimizing its customer and order structure to pursue high-quality development, which includes strategically reducing involvement in low-margin and highly competitive projects [1] - The adjustments in strategy have had a negative impact on the company's performance [1] Group 3: Inventory and Asset Valuation - Certain products have been affected by structural changes in customer demand, inventory strategies, and rising material costs, leading to a lower net realizable value than their book value [1] - The company has made provisions for inventory impairment in accordance with the relevant requirements of the Accounting Standards for Enterprises, which has also impacted the current period's performance [1]

Core Viewpoint - The company, Angrui Microelectronics, experienced a decline in stock price and financial performance, with significant changes in financing activities and shareholder numbers [1][2]. Group 1: Stock Performance and Financing - On January 19, Angrui Microelectronics' stock price fell by 1.82%, with a trading volume of 157 million yuan [1]. - The financing data for January 19 shows a financing buy-in amount of 12.58 million yuan and a financing repayment of 17.10 million yuan, resulting in a net financing buy of -4.52 million yuan [1]. - As of January 19, the total financing and securities lending balance for Angrui Microelectronics was 162 million yuan, with the financing balance accounting for 8.30% of the circulating market value [1]. Group 2: Company Overview and Financials - 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 [1]. - The company's main revenue sources are RF front-end chips (78.54%), RF SoC chips (20.78%), and other products and services (0.69%) [1]. - For the period from January to September 2025, Angrui Microelectronics reported a revenue of 1.335 billion yuan, a year-on-year decrease of 20.69%, and a net profit attributable to shareholders of -62.77 million yuan, reflecting a year-on-year decrease of 426.66% [2]. Group 3: Shareholder Information - As of December 16, Angrui Microelectronics had 17,400 shareholders, an increase of 24,398.59% compared to the previous period [2]. - The average number of circulating shares per shareholder was 693 shares, with no change from the previous period [2].

Group 1 - The company announced the use of raised funds to replace self-raised funds previously invested in fundraising projects and to pay issuance expenses [1][5] - The total amount raised from the initial public offering was RMB 206,677.55 million, with a net amount of RMB 193,232.27 million after deducting issuance expenses [2][44] - The company has established a special account for the raised funds and signed a regulatory agreement with the bank and sponsor [2][44] Group 2 - The company plans to adjust the investment amounts for fundraising projects due to the actual net amount being lower than previously disclosed [23][45] - The company has pre-invested RMB 13,904.46 million of self-raised funds in fundraising projects and intends to replace this amount with raised funds [3][4] - The company has also paid RMB 160.83 million in issuance expenses using self-raised funds, which will be replaced by raised funds [4][5] Group 3 - The internal review process for using raised funds to replace self-raised funds was completed on January 16, 2026, with board approval [5][15] - The board's strategic committee confirmed that the replacement of self-raised funds complies with relevant regulations and does not affect the normal operation of fundraising projects [6][17] - The sponsor has issued a no-objection opinion regarding the use of raised funds for this purpose [9][41] Group 4 - The company intends to use part of the temporarily idle raised funds for phased cash management, with a maximum amount of RMB 15.5 billion [20][22] - The cash management products will include low-risk options such as time deposits and structured deposits, ensuring liquidity and safety [22][28] - The board approved the cash management plan on January 16, 2026, without the need for shareholder meeting approval [33][41] Group 5 - The company has added new implementation entities and locations for certain fundraising projects to enhance efficiency and resource allocation [43][50] - The new entities include Shenzhen Angrui Microelectronics Co., Ltd. and its Chengdu branch, which will manage specific projects [50][51] - This adjustment aims to leverage regional advantages and improve project execution without altering the intended use of raised funds [51][52]