Core Viewpoint - The public letter from the management team of Zhenxin Technology highlights internal conflicts and disputes regarding the actual control of the company, particularly targeting the contributions and qualifications of the actual controller, He Yan [1][2]. Group 1: Internal Conflicts - The public letter, signed by Chairman Xie Jun, Vice Chairman Xu Jin, and Director Bai Jie, accuses He Yan of not contributing to the company's development and causing significant obstacles due to personal issues [1]. - The letter claims that He Yan has never held a position or participated in the management of the company since its establishment, and her past legal issues have negatively impacted the company's reputation and market value [1][3]. - The management team asserts that He Yan has disrupted the company's stability and decision-making processes, including repeatedly rejecting legitimate resolutions from the shareholders' meetings [1]. Group 2: Legal Background - The public letter was issued following a shareholders' meeting on December 26, where several key proposals were rejected, likely due to opposition from the controlling shareholder, Chengdu Guoteng Electronics Group, which He Yan holds a 51% stake in [3]. - Zhenxin Technology, originally named Chengdu Guoteng Electronics Technology Co., Ltd., was co-founded by He Yan and others, and it specializes in products related to the BeiDou satellite navigation system [3]. - A series of lawsuits initiated by shareholders against Guoteng Group since 2018 reflect ongoing disputes over control, with a court ruling in 2021 ultimately deciding against the dissolution of Guoteng Group [4][6]. Group 3: Governance Issues - The company has been in a state of governance deadlock, with claims that it has a controlling shareholder but lacks an actual controller, which complicates its operational stability [5][6]. - Despite the court ruling that Guoteng Group should not be dissolved, the management team of Zhenxin Technology has maintained control over the board, indicating ongoing power struggles [6]. - The situation emphasizes the need for the company to resolve shareholder disputes and ensure fair representation of all parties involved [6].

Core Viewpoint - The commercial aerospace sector is experiencing a rebound, with significant gains in satellite-related stocks and the satellite ETF reaching a record high in scale [2][5]. Group 1: Stock Performance - The satellite ETF (159206) saw an intraday increase of 2.12% as of 11:06 AM, with constituent stocks like China Satellite Communications (601698) hitting the daily limit up, and Zhuosheng Micro (300782) rising over 11% [2]. - Key stock performances include: - Zhuosheng Micro (300782) at 84.75, up 11.18%, with a market cap of 25.29 billion - China Satellite Communications (601698) at 33.00, up 10.00%, with a market cap of 55.78 billion - China Satellite (600118) at 94.09, up 6.92%, with a market cap of 89.31 billion [4]. Group 2: Fund Inflows - The satellite ETF has experienced continuous net inflows over the past 12 days, with a peak single-day inflow of 4.49 billion, totaling 26.50 billion in net inflows, averaging 2.21 billion per day [5]. Group 3: Industry Developments - The Shanghai Stock Exchange has released refined rules for commercial rocket companies under the Sci-Tech Innovation Board, emphasizing the importance of market recognition and investment from professional institutions [7]. - At least 10 commercial aerospace companies have initiated IPO processes, including five rocket companies like Landspace and iSpace, with several A-share listed companies investing directly or indirectly in these firms [7]. - According to Kaiyuan Securities, the refinement of listing standards and acceleration of capital processes indicate that China's commercial aerospace industry is entering a golden development period characterized by "capital empowerment, technological breakthroughs, and scale expansion" [7]. - The satellite ETF (159206) focuses on commercial aerospace and satellite communications, expected to thrive under the "aerospace power" backdrop, being the first of its kind in the market [7].

Core Viewpoint - The company, Zhenxin Technology, has confirmed that its products applicable to satellite applications include basic components such as baseband, frequency synthesizers, SDR, and clocks, which can be tailored to different terminal needs based on various scenarios [1] Group 1 - The products are categorized as basic components for satellite applications [1] - Different manufacturing processes, testing, and production methods are employed based on the specific requirements of terminal scenarios [1] - The products are suitable for both satellite payloads and ground equipment [1]

其二，应建立多层次议案审核校验机制。可明确公司董事会办公室或证券部作为议案合规归口管理部门，负责对 议案的格式规范性、材料完整性进行初步审核。董事会秘书应履职尽责，对议案内容的合法合规性、信息披露的 充分性与公平性进行实质性复核。最终由董事长或董事会进行审阅确认。对于复杂的资产重组、关联交易、章程 修订等重大议案，可引入外聘律师事务所、会计师事务所等第三方专业机构进行独立验证。审核过程中若发现瑕 疵，应在议案提交审议前予以修正完善。 其三，应充分保障股东知情权和信披合规。公司应严格按照规定时限向全体股东送达完整的会议材料，保证股东 特别是中小股东有充足时间研读议案。对于专业性强、条款复杂或可能存有理解歧义的议案，公司可考虑同步提 供通俗的条款解读说明或问答，通过公告、官网、互动易等多种渠道解答疑问。若议案系修订原有制度，应披露 详细的修订内容对比。整个议案的筹划、起草、审议过程，必须严格执行内幕信息保密规定，防止泄露内幕信 息。 其四，完善审议阶段的沟通与事后跟进机制。在股东会审议过程中，议案提议方或公司管理层应就议案内容进行 清晰说明，真诚回应股东质询。当股东对议案内容存在重大分歧或材料准备不充分时，可考虑 ...

熊锦秋 12月26日振芯科技发布第一次临时股东会决议公告，《股东会议事规则》《董事会议事规则》《股东会 网络投票实施细则》三项核心治理议案未获通过，反对票占比均超71.84%，大概率来自控股股东国腾 电子集团，显示控股股东与董事会在治理理念方面或存分歧。 其三，应充分保障股东知情权和信披合规。公司应严格按照规定时限向全体股东送达完整的会议材料， 保证股东特别是中小股东有充足时间研读议案。对于专业性强、条款复杂或可能存有理解歧义的议案， 公司可考虑同步提供通俗的条款解读说明或问答，通过公告、官网、互动易等多种渠道解答疑问。若议 案系修订原有制度，应披露详细的修订内容对比。整个议案的筹划、起草、审议过程，必须严格执行内 幕信息保密规定，防止泄露内幕信息。 其四，完善审议阶段的沟通与事后跟进机制。在股东会审议过程中，议案提议方或公司管理层应就议案 内容进行清晰说明，真诚回应股东质询。当股东对议案内容存在重大分歧或材料准备不充分时，可考虑 暂缓表决，待沟通完善后再行审议。对于未获通过的议案，公司应认真分析原因，必要时可通过专项说 明会、意见征集等方式与股东沟通，并根据法律法规和股东合理意见进行修改完善。 比如，振芯科 ...

证券日报网讯12月29日，振芯科技（300101）在互动平台回答投资者提问时表示，公司自主研制的转换 器、软件无线电、时钟、视频接口、板卡、模块等产品可用于卫星载荷、卫星平台、地面设备及应用， 目前公司正积极对接行业优质需求，与相关客户洽谈合作，持续推进产品验证和市场拓展。 ...

格隆汇12月29日丨振芯科技(300101.SZ)在互动平台表示，公司自主研制的转换器、软件无线电、时 钟、视频接口、板卡、模块等产品可用于卫星载荷、卫星平台、地面设备及应用，目前公司正积极对接 行业优质需求，与相关客户洽谈合作，持续推进产品验证和市场拓展。 ...

Group 1 - The core viewpoint of the article is that Zhenxin Technology (300101.SZ) has successfully achieved small-scale sales of its GPU computing power boards, which are specifically targeted at certain industries [1] Group 2 - The company's GPU computing power boards are designed for specific industry applications [1] - The interaction platform indicates that the company is actively engaging with stakeholders regarding its product offerings [1]

格隆汇12月29日丨振芯科技(300101.SZ)在互动平台表示，公司的GPU算力板卡主要针对特定行业，已 实现小批量销售。 ...

Core Viewpoint - The company, Zhenxin Technology, has been engaged in the BeiDou navigation industry for many years, providing essential services such as positioning, navigation, communication, and timing across various fields including vehicles, aircraft, and ships [1] Group 1 - The company's products are applicable in multiple sectors, including automotive, aviation, and maritime [1] - Zhenxin Technology is developing products and expanding market applications in response to industry conditions [1] - The company offers video interface chips, such as SerDes, which can be utilized in the smart automotive sector [1]