苏州禾盛新型材料股份有限公司 2025 年半年度报告全文 苏州禾盛新型材料股份有限公司 2025 年半年度报告 2025 年 8 月 1 苏州禾盛新型材料股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人梁旭、主管会计工作负责人周万民及会计机构负责人(会计主 管人员)周万民声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告中涉及的未来计划等前瞻性陈述，不构成公司对投资者的 实质承诺，敬请投资者注意投资风险。 公司在 2025 年可能面临行业竞争风险、原材料价格波动风险、汇率波动 风险、人工智能领域风险等。详见本报告"第三节 管理层讨论与分析，十、 公司面临的风险和应对措施"。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 重要提示、目录和释义 2 | | --- | | 第二节 公司简介和主要财务指标 6 | | 第三节 管理层讨论与分析 9 | | ...

苏州禾盛新型材料股份有限公司 第七届董事会第四次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的虚 假记载、误导性陈述或者重大遗漏承担责任。 一、董事会会议召开情况 苏州禾盛新型材料股份有限公司（以下简称"公司"）第七届董事会第四次 会议于 2025 年 7 月 25 日以邮件、电话形式通知全体董事及高级管理人员，会议 于 2025 年 8 月 6 日 14:00 以现场加通讯表决的方式召开，应出席董事 7 人，实 际出席董事 7 人，会议由董事长梁旭先生主持，公司高级管理人员列席本次会议。 本次会议出席人数符合召开董事会会议的法定人数，会议程序符合《公司法》和 《公司章程》的规定，会议合法有效。 二、董事会会议审议情况 经与会董事审议，以现场加通讯表决方式，通过了以下议案： 证券代码：002290 证券简称：禾盛新材 公告编号：2025-032 （一）审议通过了《苏州禾盛新型材料股份有限公司 2025 年半年度报告全 文及摘要》 表决结果：7 票同意，0 票反对，0 票弃权。 详见 2025 年 8 月 8 日披露于巨潮资讯网（www.cninfo.com.cn）及《证券时 报 ...

格隆汇8月5日｜民生证券研报指出，禾盛新材投资熠知电子，实现AI上下游一体化。公司以自有资金 或自筹资金2.5亿元向熠知电子增资，公司于本次投资后预计持有熠知电子10%股权。熠知电子建立了 完善的高端处理器的研发环境和流程，产品性能逐代提升，功能不断丰富，目前针对不同的应用场景已 经推出了两大系列产品，即包括一代TF16000系列融合处理器及服务器和二代TF7000系列融合处理器及 相应板卡。考虑禾盛新材通过多年的精细化运营，同时子公司海曦技术有望受益于国产AI大模型，认 为公司主业在行业政策支持下有望稳步增长，子公司海曦技术在人工智能、云计算、5G等产业趋势 下，相关订单有望加速落地。看好公司业务前景，维持"推荐"评级。 ...

Summary of the Conference Call Company and Industry Involved - The conference call involves **He Sheng New Materials** and its investment in **Yizhi Electronics**, focusing on the **high-end computing chip industry** in China. Key Points and Arguments 1. **Investment and Shareholding Structure** He Sheng New Materials increased its investment in Yizhi Electronics, becoming the second-largest shareholder, which resolved development bottlenecks related to advanced processes and EDA software usage, facilitating new chip development and talent acquisition [2][3] 2. **Chip Development and Market Position** Yizhi Electronics has released three generations of chips and gained qualification for China Telecom's procurement in 2024. The company achieved significant breakthroughs in the cloud gaming sector with major internet companies [2][5] 3. **Sales and Supply Forecast** In the first half of 2025, Yizhi Electronics supplied nearly 5,000 servers, with an expected total supply of 10,000 to 15,000 units for the year. The company also secured a $20 million overseas order [2][5] 4. **Focus on Domestic High-End Chips** Yizhi Electronics specializes in domestic high-end computing chips, including CPUs and XPUs for the AI era, applicable in industrial, edge computing, and large language model fields. The company plans to launch new chips with a cost-performance improvement of 30% to 60% [2][6] 5. **Dual-Drive Strategy** Yizhi Electronics employs a dual-drive strategy, utilizing advanced processes for overseas markets while opting for purely domestic processes for the domestic market to meet the demands of intelligent computing and computing power development [2][6][7] 6. **Advantages in Edge Computing and Private Deployment** Yizhi Electronics has advantages in edge computing and private deployment, particularly with its XPU dual-in-one design, which is suitable for China's scenario-based and vertical market needs. This design offers cost and power consumption advantages when paired with domestic GPUs [2][9] 7. **Industrial 4.0 Solutions** In the Industrial 4.0 sector, Yizhi Electronics provides competitive solutions through its XPU dual-in-one technology, addressing quality inspection, manual replacement, and patrol inspection issues for factories lacking complete server facilities [4][12] 8. **Future Development Directions** Yizhi Electronics aims to continue focusing on high-end computing chips, pursuing disruptive innovation in dual-in-one processors that combine CPUs and XPUs to enhance cost-performance ratios and adapt to harsh environments [7][8] 9. **Collaboration with Hai Xi Technology** Following the investment, He Sheng New Materials plans to integrate management teams and collaborate with Hai Xi Technology, emphasizing the growing importance of chips in the industry [14][15] 10. **Cooling Solutions for Integrated Machines** Hai Xi's integrated machines are now equipped with Yizhi Electronics' processors, utilizing both liquid cooling and air cooling solutions to meet diverse customer needs [16] Other Important but Possibly Overlooked Content - The investment by He Sheng New Materials not only resolved Yizhi Electronics' development constraints but also allowed the company to freely use various chip IPs and attract industry talent [6] - Yizhi Electronics has successfully replaced NVIDIA solutions in overseas CDN edge nodes, demonstrating the effectiveness of its XPU dual-in-one features [10]

Group 1 - The core viewpoint of the article is that Minsheng Securities has given a recommendation rating to Hesheng New Materials (002290.SZ) based on several positive factors [2] - Hesheng New Materials announced an investment in a 10% stake in Yizhi Electronics, which focuses on high-end computing chips [2] - Yizhi Electronics has a strong customer base that can deeply collaborate with AI integrated machines [2] - The company is working with its subsidiary Haixi Technology to integrate the AI industry chain [2]

Market Performance - The main board led the gains with notable increases in stocks such as Furi Electronics (+10.04%), Beiwai Technology (+10.03%), and Liding Optoelectronics (+10.00%) [1] - The ChiNext board saw significant growth, highlighted by Longyang Electronics (+20.00%) and Jinxi Modern (+19.96%) [1] - The Sci-Tech Innovation board also performed well, with Dongxin Co. (+20.00%) and Xunjiexing (+15.81%) leading the way [1] - Active sub-industries included SW Military Electronics III (+3.42%) and SW Robotics (+3.42%) [1] Domestic News - ZhiGe Technology, an AR glasses optical manufacturer, recently completed a financing round of over 100 million yuan, establishing China's first fully automated mass production line for diffractive waveguides with a monthly capacity of 100,000 pieces [1] - Semiconductor investment alliance member, Saiwei Electronics, announced that its subsidiary, Silex, has received a purchase order for a MEMS silicon oscillator after passing customer validation [1] - TSMC has begun equipment installation for its second 2nm plant in Kaohsiung, expected to enter trial production by the end of this year [1] - He Sheng New Materials announced a 250 million yuan investment in Yizhi Electronics, acquiring a 10% stake in the company, which specializes in high-end server CPU chip design [1] Company Announcements - Aohai Technology reported the repurchase of 534,100 shares, representing 0.19% of its total share capital [3] - Sanhuan Group announced the repurchase of 5,133,800 shares, accounting for 0.2679% of its total share capital [3] - OmniVision Technologies projected its H1 2025 revenue to be between 13.722 billion yuan and 14.022 billion yuan, reflecting a year-on-year increase of 13.49% to 15.97% [3] - Industrial Fulian reported a total repurchase of 7,697,400 shares, which is 0.04% of its total share capital [3] Overseas News - TrendForce predicts that major memory suppliers in South Korea and the U.S. will significantly reduce or halt production of LPDDR4X in 2025 and 2026, leading to supply-demand imbalances [1] - Samsung Electronics made a strategic investment in Israeli startup Teramount Ltd. to secure critical high-speed data transmission technology for next-generation semiconductor packaging [1] - Meta announced plans to dispose of certain data center assets valued at $2.04 billion, reclassifying them as "held for sale" [1] - Qualcomm reported Q3 FY2025 revenue of $10.4 billion, a 10% year-on-year increase, with net profit of $2.666 billion, up 25% year-on-year, driven by strong performance in automotive and IoT sectors [1]

进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为1.52亿元。 证券时报·数据宝统计显示，禾盛新材今日收盘价为33.25元，上涨6.71%，日换手率为3.42%，成交额为 2.75亿元，全天主力资金净流入2608.25万元，近5日该股累计上涨5.09%，近5日资金合计净流入1711.21 万元。（数据宝） 禾盛新材8月4日大宗交易平台出现一笔成交，成交量240.00万股，成交金额7980.00万元，大宗交易成交 价为33.25元。该笔交易的买方营业部为西南证券股份有限公司浏阳环府路证券营业部，卖方营业部为 中信证券股份有限公司上海世博馆路证券营业部。 8月4日禾盛新材大宗交易一览 | 成交量 （万 | 成交金额 | 成交价 | 相对当日收盘 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | | （万元） | 格 | 折溢价（%） | | | | 股） | | （元） | | | | | 240.00 | 7980.00 | 33.25 | 0.00 | 西南证券股份有限公司浏 | 中信证券股份有限公司上 | | | | | | 阳 ...

证券之星消息，8月4日家电零部件板块较上一交易日上涨2.27%，禾盛新材领涨。当日上证指数报收于 3583.31，上涨0.66%。深证成指报收于11041.56，上涨0.46%。家电零部件板块个股涨跌见下表： 从资金流向上来看，当日家电零部件板块主力资金净流入1.82亿元，游资资金净流出3750.41万元，散户 资金净流出1.44亿元。家电零部件板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 002050 三花智控 | | | 1.13亿 | 8.54% | -1362.94万 | -1.03% | -9938.85万 | -7.51% | | 300342 天银机电 | | | 7002.16万 | 11.26% | -2184.35万 | -3.51% | -4817.80万 | -7.75% | | 002418 康盛股份 | | | 5043.83万 | 12.67% ...

每经头条（nbdtoutiao）——"我们也深陷残酷价格战"！德资巨头中国区高管警告：智驾绝不能免费， 否则会给全行业带来灾难 2024年1至12月份，禾盛新材的营业收入构成为：家电用外观部件复合材料制造业占比98.25%，其他业 务占比1.71%，系统集成板块占比0.03%。 每经AI快讯，禾盛新材（SZ 002290，最新价：32.33元）8月1日晚间发布公告称，公司第七届第三次董 事会会议于2025年8月1日以通讯表决方式召开。会议审议了《关于对外投资暨签署增资协议的议案》等 文件。 （记者 王瀚黎） ...

Core Viewpoint - He Sheng New Materials (002290.SZ) is expanding its layout in the AI field by investing 250 million yuan in Shanghai Yizhi Electronic Technology Co., Ltd, which is seen as a significant move to enhance its presence in the chip and computing power market [1][2]. Investment Details - The investment will result in He Sheng New Materials holding a 10% stake in Yizhi Electronic, which has an estimated pre-investment valuation of 2.25 billion yuan [2]. - The capital structure of the investment includes 4.7669 million yuan for subscribing to newly registered capital, with the remaining 245.33 million yuan allocated to capital reserves [3]. Company Performance - He Sheng New Materials anticipates a net profit of 91.9 million to 104 million yuan for the first half of 2025, representing a year-on-year growth of 50% to 70% [1][6]. - The company reported a significant increase in operating cash flow, with a net cash flow of 59.92 million yuan in the first quarter of 2025, up 448.44% year-on-year [6]. Financial Health - As of the end of the first quarter of 2025, He Sheng New Materials had 424 million yuan in cash, marking a 34.55% increase year-on-year, indicating strong liquidity for business expansion [6]. - The company has reduced short-term borrowings by 51.61% to 45.03 million yuan and non-current liabilities due within one year by 82.43% to 2.971 million yuan [6]. R&D and Innovation - He Sheng New Materials has been actively enhancing its R&D capabilities, with total R&D expenditures from 2020 to 2024 amounting to 369 million yuan [6]. - The company holds 83 patents as of the end of 2024, including 8 invention patents and 75 utility model patents, showcasing its commitment to innovation [7]. Strategic Partnerships - The collaboration between He Sheng New Materials and Yizhi Electronic is expected to leverage their respective strengths in R&D to provide customized product development services [4].