Core Viewpoint - Angrui Microelectronics (688790.SH) experienced a significant decline in stock price, reaching an all-time low since its listing, indicating potential market concerns regarding its performance and future prospects [1] Group 1: Stock Performance - The stock price of Angrui Microelectronics dropped to a minimum of 168.33 yuan during trading, marking the lowest price since its IPO [1] - As of the market close, the stock was reported at 170.45 yuan, reflecting a decline of 5.20% [1] Group 2: IPO Details - Angrui Microelectronics was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 16, 2025, making today its fourth trading day [1] - The company issued a total of 24,882,922 shares at an initial price of 83.06 yuan per share [1] - The total funds raised from the IPO amounted to 2,066.7755 million yuan, with a net amount of 1,932.3227 million yuan after deducting issuance costs, which is 134.9787 million yuan less than originally planned [1] Group 3: Fund Utilization - The funds raised are intended for projects including the R&D and industrialization of 5G RF front-end chips and modules, RF SoC R&D and industrialization, and the construction of a headquarters and R&D center [1] Group 4: Issuance Costs - The total issuance costs for the public offering were 134.4528 million yuan, which included a sponsorship fee of 2.7 million yuan and an underwriting fee of 112.1727 million yuan [1]

Group 1 - A total of 20 companies have announced their performance forecasts for the year 2025, with 14 expecting profit increases, 2 expecting profit decreases, and 1 forecasting a loss [1][2] - The companies with the highest expected profit increase include Baiao with a projected increase of 303.57% and Lixun Precision with an expected increase of 26.09% [1] - Companies such as C. Angrui and Jinhua are forecasting profit decreases of -19.44% and -5.47%, respectively [2] Group 2 - The electronic industry has several companies forecasting profit increases, including C. Muxi with a 54.22% reduction in losses and Moer Thread with a 41.36% reduction in losses [1] - The machinery and equipment sector shows positive forecasts, with companies like Aomei and Nante expecting profit increases of 16.44% and 13.02%, respectively [1] - The power equipment industry has companies like Hongyuan and Xintong Electronics forecasting profit increases of 21.42% and 5.40%, respectively [1]

Core Viewpoint - The company, Angrui Microelectronics, experienced a decline in stock price and financial performance, with significant changes in shareholder numbers and revenue figures reported. Group 1: Stock Performance - On December 18, Angrui Microelectronics' stock fell by 11.08%, with a trading volume of 803 million yuan [1] - The financing buy-in amount for Angrui Microelectronics on the same day was 56.45 million yuan, while the financing repayment was 52.21 million yuan, resulting in a net financing buy of 4.24 million yuan [1] - As of December 18, the total financing and securities lending balance for Angrui Microelectronics was 120 million yuan, accounting for 5.55% of its market capitalization [1] Group 2: Company Overview - 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 revenue composition of the company includes 78.54% from RF front-end chips, 20.78% from RF SoC chips, and 0.69% from other products and services [1] Group 3: Financial Performance - As of December 16, the number of shareholders for Angrui Microelectronics was 17,400, representing an increase of 24,398.59% compared to the previous period [2] - 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% [2] - The net profit attributable to the parent company was -62.77 million yuan, reflecting a year-on-year decrease of 426.66% [2]

Core Insights - The article presents a ranking of the most profitable new stocks since the implementation of the comprehensive irrigation system on February 17, 2023, highlighting their first-day performance [2][3]. Summary by Sections Stock Performance - The top-performing new stock is C沐曦-U, which had an issuance price of 104.66 and closed at 829.90, achieving a closing increase of 692.95% and a peak increase of 755.15% [3]. - The second-ranked stock, 暨尔线程-U, was issued at 114.28 and closed at 600.50, with a closing increase of 425.46% and a peak increase of 502.03% [3]. - 长联科技, ranked third, had an issuance price of 21.12 and closed at 381.00, resulting in a closing increase of 1,703.98% and a peak increase of 1,831.82% [3][4]. - Other notable mentions include 红四方, 诺瓦星云, and 中国瑞林, which also demonstrated significant first-day performance with closing increases ranging from 202.62% to 1,917.42% [4]. Market Trends - The article indicates a trend of substantial returns for new stocks, particularly in the 科创板 and 创业板 segments, suggesting a robust market environment for new listings [2][3][4].

Core Insights - The article discusses the performance of newly listed stocks since February 17, 2023, highlighting the significant price increases on their first trading days [3][4]. Group 1: Stock Performance - The top-performing new stock is C沐園-U, which had an initial price of 104.66 and closed at 829.90, marking a closing increase of 692.95% [4]. - 摩尔线程-U follows with an initial price of 114.28 and a closing price of 600.50, resulting in a 425.46% increase [4]. - 长联科技, with an initial price of 21.12, closed at 381.00, reflecting a remarkable increase of 1,703.98% [4]. - 红四方 saw its stock rise from an initial price of 7.98 to a closing price of 160.99, achieving a closing increase of 1,917.42% [4]. - 中国瑞林's stock increased from 20.52 to 99.90, resulting in a closing increase of 386.84% [5]. Group 2: Trading Volume and Price Fluctuations - The highest intraday price increase was observed in 托普云农, which had a maximum price of 170.00, reflecting an intraday increase of 1,072.41% from its initial price of 14.50 [6]. - The stock with the highest trading volume was C沐園-U, with 395,170 shares traded on its first day [4]. - The stock with the second-highest trading volume was 摩尔线程-U, with 286,860 shares traded [4].

Group 1 - The core viewpoint of the article is that Yuexiu Capital has made strategic investments in Angrui Micro before its IPO and through a partnership in the China Insurance Investment Fund [1] - The company confirmed that these investments will not have a significant impact on its operating performance [1]

Core Viewpoint - Angrui Microelectronics (688790.SH) experienced a significant stock price decline, reaching an all-time low since its listing, indicating potential market concerns regarding its performance and future prospects [1] Company Summary - Angrui Microelectronics' stock price fell to a minimum of 179.68 yuan during trading, closing at 179.80 yuan with a drop of 11.08% [1] - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 16, 2025, marking its third trading day [1] - The total number of shares publicly issued by Angrui Microelectronics was 24,882,922 shares, with an initial offering price of 83.06 yuan per share [1] Fundraising and Financials - The total funds raised from the public offering amounted to 2,066.7755 million yuan, with a net amount of 1,932.3227 million yuan after deducting issuance costs, which is 134.9787 million yuan less than originally planned [1] - According to the prospectus disclosed on December 11, 2025, the company intended to raise 2,067.3014 million yuan for projects related to 5G RF front-end chip and module R&D, RF SoC R&D, and the construction of its headquarters and R&D center [1] - The total issuance costs for the public offering were 134.4528 million yuan, including a sponsorship fee of 2.7 million yuan and an underwriting fee of 112.1727 million yuan [1]

Group 1 - Beijing Angrui Microelectronics Technology Co., Ltd. officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, marking the eighth company from Haidian District to go public this year, bringing the total number of listed companies in Haidian to 263 [1] - On its first trading day, Angrui Micro's stock surged by 160.11%, reflecting strong confidence in the domestic semiconductor industry's breakthrough and showcasing China's core capabilities in the RF chip sector [1] - Founded in 2012, Angrui Micro specializes in integrated circuit design in the RF and analog fields, recognized as a national-level "little giant" enterprise, focusing on the R&D, design, and sales of RF front-end chips, RF SoC chips, and other analog chips [1] Group 2 - The funds raised from the IPO will primarily be used for R&D and industrial upgrades of 5G RF front-end chips and modules, RF SoC chips, and the construction of headquarters and R&D centers, further solidifying its technological leadership and industry position in the RF chip sector [2] - The recent listing of Angrui Micro follows the IPO of Moore Threads, which focuses on computing chips, indicating a strong momentum in the integrated circuit industry in Haidian, where over 240 integrated circuit companies are currently located, including 12 listed companies and more than 40 national-level "little giant" enterprises [2]

Core Insights - Beijing's integrated circuit sector sees a new "little giant" company, Angrui Microelectronics, listed on the Sci-Tech Innovation Board, marking a record high for new companies from Beijing in 2025 compared to 2024 [1][10] Company Overview - Angrui Microelectronics officially listed on the Sci-Tech Innovation Board on December 16, 2025, with an initial price of 83.06 yuan per share, opening at 240 yuan, a 188.95% increase [2] - The company's market capitalization reached 21.504 billion yuan on its first trading day, with a trading volume of 2.061 billion yuan [2] - The stock's closing price on the first day was 216.05 yuan, reflecting a 160.11% increase from the issue price, resulting in a profit of approximately 66,500 yuan for a single lot of 500 shares [5] Trading Activity - Angrui Microelectronics experienced a turnover rate of 75.28% on its first trading day, ranking among the top three of five newly registered companies on the Sci-Tech Innovation Board in 2025 [3] Financial Performance - The company reported revenues of 0.923 billion yuan, 1.695 billion yuan, and 2.101 billion yuan for the years 2022, 2023, and 2024, respectively, achieving a compound annual growth rate of 51% [8] Product and Market Position - Angrui Microelectronics specializes in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips, covering all network standards from 2G to 5G [7] - The company has developed a 5G-LPAMid module that meets international standards in performance and integration, contributing to domestic substitution [7] - Angrui's RF SoC product line includes low-power Bluetooth SoC chips and 2.4GHz private protocol SoC chips, widely used in smart home applications [7] Investment and Support - Since its establishment in July 2012, Angrui Microelectronics has received investments from various funds and companies, including the Beijing Integrated Circuit Advanced Manufacturing and High-end Equipment Industry Fund, Huawei Hubble, Xiaomi Changjiang, and Lenovo [8]

Core Insights - C Angrui-UW (688790) experienced a significant increase of 160.11% on its first trading day, with a turnover rate of 75.28% and a transaction volume of 2.061 billion yuan [2] - The stock's first-day margin trading amounted to 118 million yuan, representing 5.74% of the total trading volume, with a current margin balance of 101 million yuan, accounting for 3.90% of the circulating market value [2] - The company specializes in integrated circuit design in the RF and analog fields and is recognized as a national-level "little giant" enterprise focusing on specialized and innovative development [2] Company Overview - C Angrui primarily engages in the research, design, and sales of RF front-end chips, RF SoC chips, and other analog chips [2] - The company has consistently invested in R&D and technology accumulation since its establishment, leading to efficient product iterations that provide high-performance, high-reliability, low-power, and highly integrated RF and analog chip products [2] Market Activity - On its debut, C Angrui attracted a net inflow of 923 million yuan from major funds, with large orders contributing 599 million yuan and big orders adding 324 million yuan [2] - The recent trend in new stock margin trading indicates a strong interest from investors, as evidenced by the substantial first-day price increases and margin balances across various newly listed companies [3][4]