Core Viewpoint - The global semiconductor industry is experiencing a recovery cycle, with significant sales growth driven by major contributions from the Americas and Asia-Pacific regions, including China, and Chinese semiconductor giants are leveraging domestic substitution benefits to upgrade production lines and technology [1]. Group 1: Industry Overview - In October 2025, global semiconductor sales reached $649 billion, marking a 21.7% year-on-year increase and a continuous nine-month growth trend [1]. - Inventory turnover days have decreased by 22 days compared to the peak in 2023, indicating a positive shift in the industry [1]. Group 2: New Unigroup's Business Restructuring - New Unigroup has successfully restructured its business, creating a comprehensive industrial chain covering chip design, manufacturing, testing, materials, modules, ICT equipment, and cloud services [1][3]. - The company is focusing on collaborative innovation across various business sectors, driven by technologies such as AI, communication, automotive electronics, and storage [1][3]. Group 3: Key Enterprises and Their Performance - Unigroup Guowei reported a revenue of 4.904 billion yuan in the first three quarters of 2025, a 15.05% increase year-on-year, with a net profit of 1.263 billion yuan, up 25.04% [4]. - Unigroup Zhanrui has launched over 800 products in high-reliability chips and has achieved significant market share in various sectors, including automotive electronics and security chips [5][6]. Group 4: Technological Innovations - Unigroup Guoxin has developed the fourth generation of 3D stacked DRAM technology, providing high bandwidth and low power consumption solutions for AI computing chips [10]. - Unigroup Tongchuang has released the first domestically produced FPGA product based on FinFET technology, filling a gap in the domestic mid-to-high-end FPGA market [8]. Group 5: Strategic Collaborations and Market Position - New Unigroup is actively participating in the development of 5G-A and 6G technologies, collaborating with various partners to create industry benchmark projects [14]. - The company is transitioning from merely supplying chips to co-creating systems, particularly in the automotive electronics sector, enhancing its competitive edge [15]. Group 6: AI and Cloud Integration - New Unigroup has launched an edge AI platform that supports various applications, indicating a strategic shift towards integrating AI with cloud services [16][17]. - The company is building a "computing power as a service" platform, enhancing its capabilities in AI and cloud computing [17][18]. Group 7: Future Outlook - The restructuring efforts of New Unigroup have established a solid foundation for future growth, with a clear focus on R&D, manufacturing, and market strategies [20]. - The company faces ongoing challenges in maintaining competitive advantages in technology, financial performance, and organizational efficiency in a global context [20].

Core Insights - The A-share computing power industry chain is experiencing significant growth, with 143 out of 147 listed companies reporting profits in the first three quarters of the year, driven by the global AI wave and accelerated domestic infrastructure deployment [2][3] Group 1: Company Performance - Among the 143 companies, 118 achieved profitability, with 32 companies doubling their profits year-on-year [2] - Industrial Fulian emerged as the "profit king" with a net profit of 22.487 billion yuan, a year-on-year increase of 48.52% [2][10] - Zhongji Xuchuang reported a net profit of 7.132 billion yuan, marking a remarkable growth of 90.05% [2][10] - Han's Semiconductor turned a loss of 724 million yuan last year into a profit of 1.605 billion yuan, with revenue soaring by 2386.38% to 4.607 billion yuan [4][10] - New Yisheng's revenue reached 16.505 billion yuan, up 221.70%, with a net profit of 6.327 billion yuan, increasing by 284.38% [6][10] Group 2: Sector Analysis - The server sector is the main driver of growth, with Industrial Fulian's revenue reaching 243.172 billion yuan, a 42.81% increase, and a net profit of 10.373 billion yuan, up 62.04% [3][10] - The PCB industry is also witnessing growth, with Shenghong Technology's revenue increasing by 83.40% to 14.117 billion yuan and net profit soaring by 324.38% to 3.245 billion yuan [7][10] - The light module sector is experiencing a positive cycle of "technological breakthroughs, product volume, and performance realization," with Zhongji Xuchuang's revenue growing by 44.43% to 25.005 billion yuan [5][10] Group 3: Market Trends - The demand for AI computing power is expected to remain high, with light module companies like New Yisheng anticipating continued growth in 1.6T products [6][8] - The PCB industry is moving towards high-end products, driven by AI data center construction needs, with increased technical barriers and capital requirements [8]

Core Viewpoint - Unisplendour Corporation Limited (紫光股份) reported a significant increase in revenue for the first three quarters of 2025, but a decline in net profit attributable to shareholders [1] Financial Performance - The company's operating revenue for the first three quarters reached 77.322 billion yuan, representing a year-on-year growth of 31.41% [1] - The net profit attributable to shareholders was 1.404 billion yuan, showing a year-on-year decrease of 11.24% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.46 billion yuan, which is a year-on-year increase of 5.15% [1] - Basic earnings per share stood at 0.4908 yuan [1]

Summary of Unisplendour Corporation's Conference Call Company Overview - **Company**: Unisplendour Corporation (紫光股份) - **Core Subsidiary**: New H3C Group (新华三) Key Financial Performance - **Revenue Growth**: Unisplendour's revenue for the first three quarters of 2025 reached 77.32 billion yuan, a year-on-year increase of 31.41% [3] - **Net Profit**: The net profit attributable to the parent company was 1.46 billion yuan, up 5.15% year-on-year [3] - **Core Subsidiary Performance**: New H3C's revenue was 59.623 billion yuan, growing 48.07% year-on-year, with a net profit of 2.529 billion yuan, an increase of 14.75% [2][3] Industry Dynamics - **Internet Sector Demand**: New H3C's domestic enterprise business benefited from the growing demand in the internet sector, with revenue increasing by 62.55% to 51.502 billion yuan [4] - **International Business Growth**: International revenue reached 3.478 billion yuan, a significant increase of 83.99% [4] Product and Technology Developments - **Supernode Products**: Unisplendour is advancing its UniPro S8 supernode product cluster deployment and collaborating with domestic manufacturers to develop competitive intelligent computing products [2][6] - **New Solutions**: The company launched a new generation of lossless network solutions and computing cluster switches, enhancing bandwidth and computing access efficiency [2][7] - **800G AR Intelligent Switch**: A new 800G AR intelligent switch was released, focusing on silicon photonics CPO and NPO technologies [2][7] Market Trends and Future Outlook - **Server Market Growth**: The Chinese server market is expected to maintain a growth rate of over 20% in 2026, with AI servers growing significantly faster than non-AI servers [13] - **Exchange and Server Business**: New H3C's switch business grew approximately 30%, while server business (including white-box servers) grew about 75% [11] - **High-Speed Switches**: The combined growth rate for 400G and 800G switches reached 287%, with these high-speed switches accounting for about 30% of overall shipments [13] Strategic Collaborations - **Partnerships with Internet Giants**: Unisplendour collaborates deeply with major internet companies like Alibaba and Tencent on supernode products, integrating domestic AI chips for cost-effective solutions [5][14] - **International Expansion**: New H3C has established 22 overseas branches and collaborates with 3,600 overseas partners, covering 180 countries and regions [10] Challenges and Risks - **Geopolitical Factors**: The company remains cautiously optimistic about future growth despite uncertainties such as US-China technology sanctions [25] - **Margin Pressures**: The overall gross margin has faced pressure due to the high proportion of white-box server sales, but future margins are expected to stabilize between 12% and 16% [21] Conclusion - **Positive Outlook**: Unisplendour is confident in its performance for the fourth quarter and the following year, driven by its robust supply chain and technological advantages in computing, networking, and storage solutions [26]

Core Viewpoint - Unisplendour Corporation Limited (紫光股份) announced that neither the company nor its subsidiaries have any overdue guarantees, nor are there any guarantees involved in lawsuits or losses due to judgments against them [1] Group 1 - The company confirmed the absence of overdue guarantees [1] - There are no guarantees related to ongoing lawsuits [1] - The company has not incurred losses from guarantees due to adverse judgments [1]

Core Viewpoint - Unisplendour Corporation Limited (紫光股份) reported a significant increase in revenue for the first three quarters of the year, but faced a decline in net profit attributable to shareholders [1] Financial Performance - The company's operating revenue for the first three quarters reached 77.32 billion yuan, representing a year-on-year growth of 31.41% [1] - The net profit attributable to shareholders was 1.4 billion yuan, showing a year-on-year decrease of 11.24% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.46 billion yuan, which reflects a year-on-year increase of 5.15% [1]

Core Viewpoint - Unisplendour Corporation (紫光股份) reported significant revenue growth in Q3 2025, but faced a decline in net profit, indicating a mixed financial performance amidst ongoing product innovation and market demand for AI solutions [1] Financial Performance - Q3 2025 revenue reached 29.897 billion yuan, representing a year-on-year increase of 43.12% [1] - Net profit for Q3 2025 was 363 million yuan, showing a year-on-year decrease of 37.56% [1] - For the first three quarters of 2025, total revenue was 77.322 billion yuan, up 31.41% compared to the same period last year [1] - Net profit for the first three quarters was 1.404 billion yuan, down 11.24% year-on-year [1] - Basic earnings per share for the first three quarters stood at 0.4908 yuan [1] Product and Market Strategy - The company has been continuously launching next-generation intelligent computing products and solutions to meet core demands in model training efficiency, large-scale computing cluster deployment, intelligent operation, and green energy-saving [1] - The "AI + scenario-based solutions" approach is aimed at assisting various industry clients, including government, internet, telecommunications, finance, and healthcare, in accelerating the implementation of "Artificial Intelligence +" initiatives [1]

紫光股份有限公司 互动易平台信息发布及回复内部审核制度 （经 2025 年 10 月 30 日公司第九届董事会第十四次会议审议通过） 第一章 总 则 第一条 为充分利用深圳证券交易所搭建的互动易平台，规范紫光股份有限公司 （以下简称"公司"）通过互动易平台信息发布和提问回复的管理，建立公司与投资 者良好沟通机制，提升公司治理水平，根据中国证券监督管理委员会《上市公司信 息披露管理办法》《上市公司投资者关系管理工作指引》以及《深圳证券交易所股票 上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运 作》《深圳证券交易所上市公司自律监管指南第 1 号——业务办理》等规定，制定本 制度。 第二条 本制度所指"互动易平台"是指深圳证券交易所为上市公司与投资者之 间搭建的自愿性、交互式信息发布和进行投资者关系管理的综合性网络平台， 是上 市公司法定信息披露的有益补充。具体网址为：http://irm.cninfo.com.cn。 第二章 总体要求 第三条 互动易平台管理是公司投资者关系管理的重要组成部分，公司通过互动 易平台发布信息或回复投资者提问，应当注重诚信，尊重并平等对待所有投资者， 主 ...

每经AI快讯，紫光股份（SZ 000938，收盘价：28.1元）10月30日晚间发布公告称，紫光计算机科技有 限公司（以下简称"紫光计算机"）系紫光股份有限公司（以下简称"公司"）下属从事商用计算终端研 发、生产和销售的控股子公司，为保证子公司业务顺利开展，公司拟为紫光计算机向郑州银行股份有限 公司长椿路支行申请的1年期人民币6000万元授信额度提供连带责任保证，保证期间为主合同项下债务 履行期限届满之日起三年，担保范围为主合同项下的主债权本金、利息（含罚息和复利）、违约金、损 害赔偿金、生效法律文书确定的迟延履行期间债务利息以及债权人为实现债权和担保权利而产生的全部 费用（包括但不限于诉讼费、仲裁费、律师代理费）及其他应付费用等全部债权。 紫光计算机将为上述担保提供全额连带责任反担保。紫光计算机的股东之一郑州紫慧企业管理中心(有 限合伙)、天津厚泰企业管理合伙企业（有限合伙)、天津厚豫企业管理合伙企业(有限合伙)、天津厚颐 企业管理合伙企业(有限合伙)和天津厚贞企业管理合伙企业(有限合伙)将按各自的持股比例为上述担保 提供连带责任反担保；股东郑州高新产业投资集团有限公司将不提供反担保。 上述担保事项已经公司 ...

股票简称：紫光股份 股票代码：000938 公告编号：2025－054 特别风险提示：公司存在对资产负债率超过 70%的子公司提供担保的情况，公 司及子公司担保余额已超过公司 2024 年末审计后的归属于母公司所有者权益的 50%， 公司及子公司对外担保总额已超过公司 2024 年末审计后的归属于母公司所有者权益 的 100%，敬请广大投资者注意投资风险。 一、担保情况概述 紫光计算机科技有限公司（以下简称"紫光计算机"）系紫光股份有限公司（以 下简称"公司"）下属从事商用计算终端研发、生产和销售的控股子公司，为保证子 公司业务顺利开展，公司拟为紫光计算机向郑州银行股份有限公司长椿路支行申请 的 1 年期人民币 6,000 万元授信额度提供连带责任保证，保证期间为主合同项下债务 履行期限届满之日起三年，担保范围为主合同项下的主债权本金、利息（含罚息和 复利）、违约金、损害赔偿金、生效法律文书确定的迟延履行期间债务利息以及债权 人为实现债权和担保权利而产生的全部费用（包括但不限于诉讼费、仲裁费、律师 代理费）及其他应付费用等全部债权。 紫光计算机将为上述担保提供全额连带责任反担保。紫光计算机的股东之一郑 州紫慧 ...