Core Viewpoint - Tongfu Microelectronics (002156) reported significant growth in both revenue and net profit for the third quarter of 2025, indicating strong operational performance and effective management strategies [1] Financial Performance - The company's third-quarter revenue reached 7.078 billion yuan, representing a year-on-year increase of 17.94% [1] - Net profit for the third quarter was 448 million yuan, showing a remarkable year-on-year growth of 95.08% [1] - For the first three quarters of 2025, total revenue amounted to 20.116 billion yuan, with a year-on-year growth of 17.77% [1] - Net profit for the first three quarters was 860 million yuan, reflecting a year-on-year increase of 55.74% [1] Product Performance - There was a notable increase in revenue from mid-to-high-end products, contributing to the overall revenue growth [1] Management Efficiency - The company has improved its overall efficiency significantly due to enhanced management and cost control measures [1]

通富微电公告，2025年第三季度营收为70.78亿元，同比增长17.94%；净利润为4.48亿元，同比增长 95.08%。前三季度营收为201.16亿元，同比增长17.77%；净利润为8.60亿元，同比增长55.74%。 ...

Core Viewpoint - Tongfu Microelectronics (002156.SZ) reported significant growth in its Q3 2025 financial results, driven by increased revenue from mid-to-high-end products and improved management and cost control measures [1] Financial Performance - Q3 revenue reached 7.078 billion yuan, a year-on-year increase of 17.94% [1] - Net profit attributable to shareholders for Q3 was 448 million yuan, reflecting a substantial year-on-year growth of 95.08% [1] - For the first three quarters, total revenue amounted to 20.116 billion yuan, up 17.77% year-on-year [1] - Net profit attributable to shareholders for the first three quarters was 860 million yuan, representing a year-on-year increase of 55.74% [1] Growth Drivers - The performance improvement is primarily attributed to the rise in operating income, particularly from mid-to-high-end product sales [1] - Enhanced management and cost control have significantly contributed to the overall efficiency and profitability of the company [1]

Core Viewpoint - Tongfu Microelectronics (002156.SZ) reported significant revenue and profit growth in Q3 2025, driven by increased sales of mid-to-high-end products and improved management and cost control [1] Financial Performance - Q3 revenue reached 7.078 billion yuan, a year-on-year increase of 17.94% [1] - Net profit attributable to shareholders for Q3 was 448 million yuan, reflecting a year-on-year growth of 95.08% [1] - Revenue for the first three quarters totaled 20.116 billion yuan, up 17.77% year-on-year [1] - Net profit attributable to shareholders for the first three quarters was 860 million yuan, marking a year-on-year increase of 55.74% [1] Growth Drivers - The growth in performance is primarily attributed to the rise in operating income, particularly from mid-to-high-end product sales [1] - Enhanced management and cost control measures have significantly improved overall efficiency [1]

Core Viewpoint - Tongfu Microelectronics reported a significant increase in revenue and net profit for the third quarter of 2025, indicating strong financial performance and growth potential in the semiconductor industry [1] Financial Performance - In Q3 2025, the company achieved a revenue of 7.078 billion yuan, representing a year-on-year growth of 17.94% [1] - The net profit attributable to shareholders reached 448 million yuan, marking a substantial year-on-year increase of 95.08% [1] - Basic earnings per share for Q3 2025 were 0.2955 yuan [1] Year-to-Date Results - For the first three quarters of 2025, the company reported a total revenue of 20.116 billion yuan, reflecting a year-on-year growth of 17.77% [1] - The net profit attributable to shareholders for the same period was 860 million yuan, which is a year-on-year increase of 55.74% [1] - Basic earnings per share for the first three quarters were 0.567 yuan [1]

通富微电子股份有限公司 2025 年第三季度报告 证券代码：002156 证券简称：通富微电 公告编号：2025-044 通富微电子股份有限公司 2025 年第三季度报告 3.第三季度财务会计报告是否经过审计 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： □是 否 1 通富微电子股份有限公司 2025 年第三季度报告 一、主要财务数据 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大 遗漏，并承担个别和连带的法律责任。 （一） 主要会计数据和财务指标 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 7,078,012,733.14 | 17.94% | 20,116,258,889.41 | 17.7 ...

Group 1 - The core point of the news is that Tongfu Microelectronics experienced a 5.01% increase in stock price, reaching 43.98 CNY per share, with a trading volume of 5.151 billion CNY and a turnover rate of 7.83%, resulting in a total market capitalization of 66.744 billion CNY [1] - Tongfu Microelectronics, established on February 4, 1994, and listed on August 16, 2007, is primarily engaged in integrated circuit packaging and testing, with 96.98% of its revenue coming from this segment and 3.02% from the sale of molds and materials [1] Group 2 - Among the top ten circulating shareholders of Tongfu Microelectronics, Huaxia Fund's Huaxia Guozheng Semiconductor Chip ETF (159995) increased its holdings by 793,100 shares in the second quarter, now holding 19.6632 million shares, which accounts for 1.3% of the circulating shares [2] - The Huaxia Guozheng Semiconductor Chip ETF (159995) was established on January 20, 2020, with a latest scale of 25.421 billion CNY, achieving a year-to-date return of 50.62% and a one-year return of 57.61% [2] - The fund manager, Zhao Zongting, has been in the position for 8 years and 196 days, overseeing a total fund asset size of 305.809 billion CNY, with the best fund return during his tenure being 123.17% and the worst being -32.63% [2]

Core Insights - The National Big Fund holding concept rose by 4.88%, ranking second among concept sectors, with 48 stocks increasing in value, including Shenzhen Circuit which hit the daily limit, and Jiangbolong, Huahong Company, and Baiwei Storage showing significant gains of 16.73%, 15.02%, and 10.70% respectively [1][2] Market Performance - The top-performing concept sectors today included: - Storage Chips: +5.66% - National Big Fund Holdings: +4.88% - Tonghuashun Fruit Index: +4.60% - Co-packaged Optics (CPO): +4.25% - AI PC: +3.99% - AI Mobile: +3.88% [2] Capital Inflow - The National Big Fund holding concept saw a net inflow of 5.342 billion yuan, with 39 stocks receiving net inflows, and 15 stocks exceeding 100 million yuan in net inflow. The leading stock for net inflow was SMIC with 784 million yuan, followed by Tuojing Technology, Changchuan Technology, and Huahong Company with net inflows of 565 million yuan, 461 million yuan, and 432 million yuan respectively [2][3] Stock Performance - Key stocks within the National Big Fund holding concept included: - SMIC: +4.49%, turnover rate 5.12%, net inflow 784 million yuan, net inflow ratio 5.79% - Tuojing Technology: +10.55%, turnover rate 4.80%, net inflow 565 million yuan, net inflow ratio 15.17% - Changchuan Technology: +6.22%, turnover rate 13.34%, net inflow 461 million yuan, net inflow ratio 8.20% - Huahong Company: +15.02%, turnover rate 12.70%, net inflow 432 million yuan, net inflow ratio 6.83% [3][4]

Core Viewpoint - The advanced packaging concept sector has shown a significant increase of 3.65% as of the market close on October 24, ranking 8th among concept sectors, with 134 stocks rising, indicating strong investor interest and potential growth in this area [1][2]. Group 1: Sector Performance - The advanced packaging concept sector saw a net inflow of 3.73 billion yuan, with 91 stocks receiving net inflows, and 17 stocks exceeding 100 million yuan in net inflows [2][3]. - Key performers within the advanced packaging sector included Kexiang Co., which hit a 20% limit up, and other notable stocks such as Jiangbolong, Inno Laser, and Yongxi Electronics, which rose by 16.73%, 11.89%, and 11.17% respectively [1][2]. Group 2: Stock Performance - The top stocks by net inflow in the advanced packaging sector were TuoJing Technology with a net inflow of 565 million yuan, followed by Tongfu Microelectronics and Shenzhen South Circuit with net inflows of 415 million yuan and 387 million yuan respectively [2][3]. - The net inflow ratios for leading stocks included Kexiang Co. at 16.64%, TuoJing Technology at 15.17%, and Shenzhen South Circuit at 15.08% [3]. Group 3: Comparative Sector Analysis - Other concept sectors with notable performance included storage chips with a rise of 5.66%, while sectors like state-owned enterprise reform and coal concepts experienced declines of 3.74% and 1.91% respectively [2].

Group 1 - Over 16.5 billion in main funds flowed into the electronics sector, making it the top sector among 31 Shenwan first-level industries [1] - The electronic ETF (515260), covering the semiconductor and Apple supply chain, saw an intraday increase of 2.87%, currently up 2.41%, recovering the 20-day moving average [1] - Key stocks such as Jiangbolong surged over 15%, while other companies like Lianqi Precision and Sanhuan Group also saw gains exceeding 5% [1] Group 2 - Storage chip prices are rising, with major players like Samsung and SK Hynix increasing prices by up to 30% for DRAM and NAND products [3] - The demand for storage chips is experiencing explosive growth due to the rapid development of AI technology, with AI server storage capacity needs being 8-10 times that of traditional servers [3] - Strong policy support in China, including various national plans, emphasizes storage chips as a key technology area, fostering a favorable development environment for domestic companies [3] Group 3 - The electronic ETF (515260) and its linked funds track the electronic 50 index, focusing on three main characteristics: semiconductor and consumer electronics concentration, Apple supply chain performance, and AI-driven policy support [4] - The Apple supply chain is expected to outperform due to the strong sales of iPhone 17, with Apple-related stocks making up 43.43% of the ETF's components as of September [4] - The external environment is pushing China towards semiconductor self-sufficiency, with AI reshaping consumer electronics and enhancing user experience, indicating potential growth for the electronics sector [4]