证券代码：001309 证券简称：德明利 公告编号：2025-050 1、本次解除限售股份涉及激励对象 14 名，解除限售的限制性股票数量合 计为 165,438 股，占公司目前总股本的比例为 0.1023%； 2、本次解除限售的限制性股票的上市流通日为 2025 年 7 月 1 日。 深圳市德明利技术股份有限公司（以下简称"公司"或"德明利"）于 2025 年 6 月 6 日召开第二届董事会第二十九次会议和第二届监事会第二十七次会议， 审议通过了《关于 2023 年限制性股票激励计划预留部分限制性股票第一个解除 限售期解除限售条件成就的议案》。根据《上市公司股权激励管理办法》、深圳 证券交易所、中国证券登记结算有限责任公司深圳分公司和公司《2023 年限制 性股票激励计划（草案）》（以下简称"本激励计划"）的有关规定，公司办理 完成本激励计划预留部分限制性股票第一个解除限售期解除限售股份手续，现将 有关情况公告如下： 深圳市德明利技术股份有限公司 关于 2023 年限制性股票激励计划预留部分限制性股票第一个解除 限售期解除限售股份上市流通的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整 ...

Core Viewpoint - The article highlights the significant growth and strategic positioning of Demingli in the embedded storage market, driven by the increasing demand for low-power, high-integration storage solutions due to the explosive growth of AI applications [3][16]. Group 1: Company Performance - Demingli's embedded storage business achieved revenue of 843 million yuan in 2024, marking a staggering year-on-year growth of 1730.6%, accounting for 17.7% of the company's total revenue [3]. - The company has successfully integrated its embedded products into the supply chains of several well-known enterprises, achieving important breakthroughs in both brand terminals and industrial clients [3]. Group 2: Product Offerings - At MWC, Demingli showcased a range of embedded products tailored for various applications, including high-performance, low-power, and large-capacity eMMC, UFS, and LPDDR4X/5/5X for AI terminals [5]. - The company also presented industrial-grade eMMC products designed for high stability and reliability in complex environments, catering to industrial automation and security monitoring [5]. - Additionally, Demingli exhibited a diverse product line including PCIe 5.0 SSDs and DDR5 memory modules, demonstrating its comprehensive capabilities in storage technology [8]. Group 3: Strategic Development - Demingli is focused on building a full-stack capability that encompasses everything from chip design to firmware development, packaging testing, and mass production delivery [10]. - The company is investing in deep research and development in the storage main control chip sector, aiming to accelerate the domestic substitution process through self-controllable core technologies [12]. - Demingli plans to continue expanding its embedded storage product lines into high-threshold fields, actively exploring new markets such as communications and the Internet of Things while deepening industry chain collaborations [14].

Macroeconomic Group - The Federal Open Market Committee (FOMC) decided to maintain the federal funds rate at 4.25% - 4.50%, marking a pause in the rate cut cycle that began in September of the previous year, aligning with market expectations [3] - The FOMC's statement was revised to indicate that uncertainty has diminished but remains high, and it reiterated that net export fluctuations affect data while the economy continues to expand steadily [3] - The dot plot indicates that the median FOMC members expect two rate cuts in 2025, totaling 50 basis points, with the median rate forecast for 2025 at 3.9% [4][5] Industry Comprehensive Group - The price of DDR4 memory products has surged nearly 100% since January 2025, with current prices exceeding the June 2024 peak, while DDR5 prices have also increased significantly [9] - The rapid price increase in the storage market has led to substantial growth in the performance of domestic storage module manufacturers and distributors, particularly benefiting companies with high inventory levels such as Jiangbolong and Demingli [9] Advanced Manufacturing Group - Powin, a major battery storage system integrator in the U.S., filed for Chapter 11 bankruptcy, affecting several Chinese companies, including CATL and Qingdao CIMC Puwei [11] - The bankruptcy was attributed to soaring tariff costs and a weak business model lacking vertical integration, leading to significant debt risks for Chinese firms [11] - The U.S. energy storage market is expected to experience a short-term freeze, with Fluence reducing its annual revenue guidance by 27% [11] Consumption Group - The combined GMV of beauty products on Tmall and Douyin reached 29.96 billion yuan in May 2025, showing a slight year-on-year increase of 1.3%, with a notable divergence in performance between high-end and mass-market brands [14] - High-end domestic brands like Mao Ge Ping and Ke Li Jin saw significant sales growth, while mass-market brands like Proya and Winona faced declines [15] - The beauty consumption trend is shifting towards high-end, efficacy-driven products, with Douyin emerging as a new growth engine for high-end brands [15]

证券代码：001309 证券简称：德明利 公告编号：2025-049 深圳市德明利技术股份有限公司 关于为全资子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 特别风险提示： 1、截至本公告披露日，深圳市德明利技术股份有限公司（以下简称"公 司"）对资产负债率超过 70%的全资子公司源德（香港）有限公司（以下简称 "源德"）提供担保，累计担保合同金额为 22,000 万美元及 25,000 万人民 币，按 2025 年 6 月 18 日美元兑人民币汇率中间价 7.1761 元计算，折合人民 币 182,874.20 万元；公司累计对外提供担保实际发生额折合人民币为 58,338.73 万元，占公司 2023 年度经审计净资产的比例为 23.52%。前述担保 全部为公司对全资子公司源德提供的担保。 2、公司及子公司无对合并报表范围外的对外担保事项，也不存在逾期担 保。敬请投资者充分关注担保风险。 一、公司为源德提供担保事项履行的内部决策程序和披露情况 1、2025 年 4 月 24 日，公司召开第二届董事会第二十七次会议、第二届 监事会 ...

证券代码：001309 证券简称：德明利 公告编号：2025-048 深圳市德明利技术股份有限公司 关于为全资子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 特别风险提示： 1、截至本公告披露日，深圳市德明利技术股份有限公司（以下简称"公 司"）对资产负债率超过 70%的全资子公司源德（香港）有限公司（以下简称 "源德"）提供担保，累计担保合同金额为 22,000 万美元及 20,000 万人民 币，按 2025 年 6 月 16 日美元兑人民币汇率中间价 7.1789 元计算，折合人民 币 177,935.80 万元；公司累计对外提供担保实际发生额折合人民币为 58,338.73 万元，占公司 2023 年度经审计净资产的比例为 23.52%。前述担保 全部为公司对全资子公司源德提供的担保。 2、公司及子公司无对合并报表范围外的对外担保事项，也不存在逾期担 保。敬请投资者充分关注担保风险。 由于前述《产品销售与采购协议》已到期，且基于此协议的相关款项已结 清，近日，源德与长江存储重新签订了《产品销售与采购协议》（以下简称 "主合同 ...

Group 1 - The stock price of Demingli (001309) increased by 0.44% to 119.78 yuan as of June 13, 2025, with a market capitalization of 19.377 billion yuan, ranking 54th in the semiconductor sector and 803rd in the A-share market [1][3] - The number of shareholders decreased by 147 to 23,300, a reduction of 0.63%, with an average holding value of 823,000 yuan per shareholder [1][3] - The company announced the use of 20 million yuan to purchase a one-month structured deposit from Jiangsu Bank, with an expected annual yield of 1.2%-1.95% [1][3] Group 2 - The company provided a cumulative guarantee amounting to 168.048 million yuan for its wholly-owned subsidiary, Yuande (Hong Kong) Limited, which represents 23.52% of the company's audited net assets for 2024 [2][3] - The company plans to provide a total guarantee limit of up to 300 million yuan for Yuande, which was approved at the 2024 annual general meeting [2] - Yuande has signed a comprehensive credit contract with CITIC Bank Shenzhen Branch, with a credit limit of 100 million yuan [2]

Investment Rating - The report maintains an "Outperform" rating for the electronic industry, indicating expected performance above the market index by more than 10% [5][39]. Core Viewpoints - The global semiconductor sales forecast for 2025 has been raised to $700.9 billion, reflecting a year-on-year growth of 11.2%, with continued growth expected in 2026 [2]. - The semiconductor market is experiencing expansion driven by demand from AI, cloud infrastructure, and advanced consumer electronics, with specific focus on logic and memory segments [2]. - The report emphasizes the importance of AI-driven innovations and the recovery of the storage industry, particularly in DDR4 pricing, which is expected to rise significantly in Q2 2025 [3][4]. Summary by Sections Market Trends - The electronic sector saw a 3.60% increase, with components rising by 7.46% and electronic chemicals by 1.53% over the past week [12]. - The report highlights a strong performance in the semiconductor sector, driven by AI-related demand and tariff relief, despite cautious investor sentiment regarding Q3 2025 performance sustainability [1][12]. Semiconductor Sales Forecast - WSTS has increased its global semiconductor sales forecast for 2025 to $700.9 billion, with a projected growth of 8.5% to $760.7 billion in 2026 [2]. - The report identifies key players in the semiconductor field, recommending companies such as 德明利, 圣邦股份, and 翱捷科技 for investment [2]. Storage Industry Recovery - DDR4 prices are expected to rise by 18-23% for server modules and 13-18% for PC modules in Q2 2025 due to reduced supply and increased demand [3]. - The report suggests that companies involved in storage, such as 德明利 and 兆易创新, are likely to benefit from this price recovery [3]. AI and ASIC Innovations - The report notes that 快手's 可灵 AI has achieved an annual revenue run rate exceeding $100 million, indicating strong market potential for AI services [4]. - The launch of 博通's Tomahawk 6 chip is expected to address AI computing bottlenecks, enhancing data transmission efficiency in AI networks [4]. Key Investment Recommendations - The report recommends focusing on companies involved in ASIC, storage, and edge innovations, including 澜起科技, 翱捷科技, and 小米集团 [1][2][4].

证券代码：001309 证券简称：德明利 公告编号：2025-047 深圳市德明利技术股份有限公司 关于为全资子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 特别风险提示： 1、截至本公告披露日，深圳市德明利技术股份有限公司（以下简称"公 司"）对资产负债率超过 70%的全资子公司源德（香港）有限公司（以下简称 "源德"）提供担保，累计担保合同金额为 22,000 万美元及 10,000 万人民 币，按 2025 年 6 月 10 日美元兑人民币汇率中间价 7.1840 元计算，折合人民 币 168,048.00 万元；公司累计对外提供担保实际发生额折合人民币为 58,333.26 万元，占公司 2024 年度经审计净资产的比例为 23.52%。前述担保 全部为公司对全资子公司源德提供的担保。 2、公司及子公司无对合并报表范围外的对外担保事项，也不存在逾期担 保。敬请投资者充分关注担保风险。 一、公司为源德提供担保事项履行的内部决策程序和披露情况 1、2025 年 4 月 24 日，公司召开第二届董事会第二十七次会议、第二届 监事会 ...

证券代码：001309 证券简称：德明利 公告编号：2025-046 二、 对公司经营的影响 深圳市德明利技术股份有限公司 关于使用暂时闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 深圳市德明利技术股份有限公司（以下简称"公司"）于 2025 年 1 月 21 日 召开第二届董事会第二十六次会议、第二届监事会第二十四次会议，审议通过了 《关于使用暂时闲置的募集资金进行现金管理的议案》，同意公司在确保不影响 募投项目建设进度的情况下，使用不超过 50,000.00 万元人民币的暂时闲置募集 资金进行现金管理，现金管理方式为投资安全性高、流动性好的投资产品（包括 但不限于结构性存款、定期存款、通知存款、大额存单等）。该额度使用期限自 公司董事会审议通过之日起 12 个月内有效，在上述额度及有效期内资金可循环 滚动使用，期限内任一时点的交易金额（含前述投资的收益进行再投资的相关金 额）不应超过审议额度。闲置募集资金现金管理到期后本金及收益将归还至募集 资金专项账户。 具体内容详见公司于 2025 年 1 月 23 日在巨潮资讯 ...

Investment Rating - The industry rating is maintained at "Outperform" [7] Core Insights - The semiconductor industry is expected to continue its optimistic growth trajectory in 2025, driven by AI applications and domestic substitution efforts [5] - The release of AI glasses by major companies like ByteDance and Xiaomi is anticipated to catalyze growth in the related supply chain [2][13] - The storage sector is experiencing price increases across various products, with DDR4 and LPDDR4X leading the price surge [3][20] Summary by Sections AI Glasses - ByteDance is in the substantial development phase of its self-developed AI glasses, integrating its "Doubao" model for visual interaction and lightweight design, potentially using the Hengxuan main control chip [2][14] - Xiaomi is also expected to enter the AI smart glasses market, leveraging its existing expertise in smart eyewear [2][18] Storage Market Overview - The storage market has seen a price increase for DDR4 and LPDDR4X products, with DDR4 8G 2666Mbps prices rising over 50% [3][21] - Embedded storage prices have generally increased by 5-10%, driven by rising NAND resource prices [3][21] - The NAND Flash market is projected to see contract price increases of 3-8% in Q2 2025 and 5-10% in Q3 2025 [4][22] Market Trends and Predictions - The demand for AI infrastructure is expected to drive performance elasticity in enterprise storage products [4][5] - The semiconductor sector is witnessing a recovery in the industrial control market, indicating a positive trend for the analog segment [5] - The overall semiconductor market is projected to outperform major indices, with significant growth in the IC design sector [63][69]