证券代码：300308 证券简称：中际旭创 公告编号：2025-105 中际旭创股份有限公司 第五届董事会独立董事专门会议第七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 中际旭创股份有限公司(以下简称"公司"或"中际旭创")第五届董事会独立董 事专门会议第七次会议（以下简称"本次会议"）于 2025 年 11 月 11 日以电子邮件 方式发出通知，并于 2025 年 11 月 20 日上午 9:00 以通讯方式召开，本次会议由屈文 洲先生主持，会议应到独立董事 4 人，实到独立董事 4 人。本次会议的召开及表决程 序符合《公司法》《公司章程》的有关规定，会议合法有效。会议审议并通过了以下 议案： 表决结果：4 票赞成、0 票反对、0 票弃权。 三、备查文件 1、中际旭创第五届董事会独立董事专门会议第七次会议决议。 特此公告 中际旭创股份有限公司董事会 一、审议通过了《关于控股孙公司增资暨关联交易的议案》 为满足海外业务拓展及生产运营的资金需求，优化公司资产负债结构，持续推进 公司国际化战略，为长远发展奠定坚实基础，公司 VINCREST H ...

Core Viewpoint - The company announces a capital increase of $517 million for its subsidiary TeraHop Pte. Ltd. to enhance its operational capabilities and competitiveness [1][2] Group 1: Investment Details - The capital increase involves the company's wholly-owned subsidiary VINCREST HOLDINGS PTE.LTD, original shareholder INFIEVO Holding Pte.Ltd., and new shareholders including Platinum Orchid B2018RSC Limited, Daxue Investments Pte.Ltd., and True Light Investments P Pte.Ltd. [1] - A total of 16,089,272 ordinary shares of TeraHop will be subscribed as part of this capital increase [1] Group 2: Purpose of the Investment - The funds will be utilized for capacity construction, research and development, and daily operations of TeraHop and its subsidiaries [2] - The transaction aims to optimize TeraHop's equity structure and balance sheet, thereby enhancing its operational efficiency and competitive edge [2]

Group 1 - The core point of the article is that Zhongji Xuchuang (SZ 300308) held its 16th meeting of the fifth board of directors on November 21, 2025, via telecommunication, where it reviewed the proposal to convene the fourth extraordinary shareholders' meeting of 2025 [1] - For the year 2024, Zhongji Xuchuang's revenue composition is as follows: optical communication transceiver modules account for 95.91%, automotive optoelectronics account for 3.19%, and optical components account for 0.9% [1] - As of the time of reporting, Zhongji Xuchuang has a market capitalization of 515.6 billion yuan [1]

智通财经APP讯，中际旭创(300308.SZ)公告，公司全资孙公司 VINCREST HOLDINGS PTE. LTD(简 称"VINCREST"，系公司子公司苏州智达泰跃科技有限公司之子公司)、原股东 INFIEVO Holding Pte. Ltd.(简称 "INFIEVO")以及新股东 Platinum Orchid B 2018 RSC Limited(简称"Platinum Orchid"，系 ADIA(阿布扎比投资局)间接持股的全资下属平台)、Daxue Investments Pte. Ltd.(简称"Daxue"，系淡马锡 间接持股的全资下属企业)、True Light Investments P Pte. Ltd.(简称"True Light"，系淡马锡间接全资持有 的独立子公司)拟合计出资 5.17亿美元对公司控股孙公司 TeraHop Pte. Ltd.(简称"TeraHop")进行增资，合 计认购 TeraHop 1608.9272 万股普通股。增资完成后，公司通过子公司苏州智达泰跃科技有限公司及孙 公司 VINCREST HOLDINGS PTE. LTD 合计持有 Teraho ...

证券代码：300308 证券简称：中际旭创 公告编号：2025-107 中际旭创股份有限公司 关于控股孙公司实施股权激励的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 中际旭创股份有限公司（以下简称"公司"或"中际旭创"）于 2025 年 11 月 21 日召开第五届董事会第二十六次会议，审议通过了《关于控股孙公司实施股权激 励的议案》，具体内容公告如下： 一、交易概况 为进一步建立、健全公司及子公司经营机制和长效激励约束机制，激发控股孙 公司重庆君歌电子科技有限公司（以下简称"君歌电子"）管理团队和核心技术(业 务)骨干的能动性和创造力，吸引和留住优秀人才，有效地将股东利益、公司利益和 核心团队个人利益结合在一起，促进君歌电子持续、稳健、快速的发展，君歌电子 拟通过新设员工持股平台增资的方式对核心员工进行激励。 本激励计划君歌电子拟增加注册资本 921.38 万元（以最终实际认购的数量为 准），占君歌电子目前注册资本的 11.11%。其中：首次授予部分增加注册资本 634.00 万元，占君歌电子目前注册资本的 7.65%，占本激励计划新增出资总额的 ...

Core Viewpoint - The market experienced a significant downturn on November 21, with major indices declining, particularly the ChiNext Index which fell over 4% [1] Group 1: Market Performance - The ChiNext 50 ETF (159949) closed at 1.384 CNY, down 3.89% with a turnover rate of 9.89% and a trading volume of 2.429 billion CNY [1][2] - The ETF has seen a net inflow of 489 million CNY over the past five trading days, indicating positive investor sentiment despite the market decline [2][3] Group 2: ETF Details - As of November 20, 2025, the ChiNext 50 ETF has a total circulation scale of 25.25 billion CNY, leading among similar ETFs [2][3] - The top ten holdings of the ChiNext 50 ETF include leading companies such as CATL, Zhongji Xuchuang, and Dongfang Caifu, reflecting a focus on high-growth sectors [3] Group 3: AI Industry Insights - NVIDIA reported a quarterly revenue of 57 billion USD, a 62% year-over-year increase, and projected next quarter revenue to reach 65 billion USD, addressing concerns about AI asset price bubbles [4] - Analysts suggest that the AI industry is still in its early development stage, with significant long-term growth potential despite current high valuations [5] Group 4: Investment Strategies - The ChiNext 50 ETF (159949) is recommended as an efficient investment tool for those optimistic about the long-term growth of China's technology sector [5] - Investors are advised to consider dollar-cost averaging strategies to mitigate short-term volatility risks while monitoring the performance of index constituent stocks [5]

Market Overview - The market experienced significant fluctuations, with the Shanghai Composite Index falling over 2% and the ChiNext Index dropping more than 4%. Nearly 5,100 stocks declined, with 99 hitting the daily limit down [1] - The Shanghai Composite Index closed down 2.45%, the Shenzhen Component Index down 3.41%, and the ChiNext Index down 4.02% [1] Sector Performance - AI application concepts showed resilience, with Rongji Software achieving five consecutive limit-up days [1] - The military industry sector was active, with Jiuzhiyang hitting the limit up and companies like Jianglong Shipbuilding and Tianhai Defense also experiencing significant gains [1] - Conversely, the lithium battery supply chain faced a collective adjustment, with stocks like Shengxin Lithium Energy hitting the limit down [1] Trading Volume - The total trading volume of the Shanghai and Shenzhen markets reached 1.97 trillion yuan, an increase of approximately 257.47 billion yuan compared to the previous trading day [2] - The Shanghai market's trading volume was 824.93 billion yuan, while the Shenzhen market's was 1.14 trillion yuan [2] Notable Stocks - Zhongji Xuchuang had the highest trading volume at 19.48 billion yuan, followed by Xinyi Sheng, Ningde Times, Sunshine Power, and Industrial Fulian with trading volumes of 13.41 billion yuan, 11.85 billion yuan, 11.76 billion yuan, and 11.71 billion yuan respectively [2]

11月21日，沪深两市成交额合计1.97万亿元，较上一交易日放量约2574.72亿元。其中，沪市成交额 8249.31亿元，深市成交额1.14万亿元。中际旭创成交额居首，为194.79亿元。其后是新易盛、宁德时 代、阳光电源、工业富联，成交额分别为134.07亿元、118.51亿元、117.56亿元、117.08亿元。 ...

Investment Rating - The report maintains a "Buy-A" rating for the company, indicating a strong expectation for price appreciation relative to the benchmark index [1][9]. Core Insights - The company has demonstrated significant revenue growth, with a 44.4% year-on-year increase in revenue for the first three quarters of 2025, reaching 25 billion yuan, and a 90.1% increase in net profit, totaling 7.13 billion yuan [2][3]. - The company is preparing for an H-share listing to enhance its international strategy and financing capabilities, which is expected to attract overseas investors and potentially lead to a revaluation of the company's worth [2][3]. - The gross margin and net margin have shown continuous improvement, reaching 42.8% and 32.6% respectively in Q3 2025, indicating a shift towards higher-end product offerings and increased scale advantages [3][4]. Financial Performance - The company’s projected net profits for 2025, 2026, and 2027 are 10.56 billion, 26.80 billion, and 34.44 billion yuan respectively, reflecting a strong upward trend in profitability [9][11]. - The earnings per share (EPS) are expected to rise significantly, with projections of 9.51 yuan in 2025 and 30.99 yuan in 2027, indicating robust growth potential [11][13]. - The company’s return on equity (ROE) is projected to be 35.9% in 2025 and 41.3% in 2027, showcasing strong profitability relative to shareholder equity [11][13]. Market Dynamics - There is a notable increase in capital expenditures from major cloud service providers, with a year-on-year growth exceeding 50% for the top five North American CSPs in Q3 2025, indicating a strong demand for the company’s 1.6T silicon photonics solutions [4][8]. - The company is positioned to benefit from the anticipated large-scale deployment of 1.6T solutions by key clients in the upcoming quarters, which is expected to drive further revenue growth [4][9]. Valuation Metrics - The report indicates that the price-to-earnings (P/E) ratio is projected to decrease from 51.8 in 2025 to 15.9 in 2027, suggesting an attractive valuation as earnings grow [9][11]. - The price-to-book (P/B) ratio is also expected to decline from 18.8 in 2025 to 6.6 in 2027, further indicating potential for value appreciation [11][13].

Group 1 - The A-share market experienced a decline, with the Shanghai Composite Index down by 2.05%, the Shenzhen Component Index down by 2.80%, and the ChiNext Index down by 3.31% as of 14:13 on November 21 [1] - Lenovo Group announced plans to launch a personal super intelligent agent at the Lenovo Innovation Technology Conference next year, which will learn user habits and predict intentions to enhance user experience [1] - Lenovo's CEO Yang Yuanqing expressed confidence that the market will not experience an AI bubble, predicting a shift towards the popularization of AI technology, making it accessible to a broader audience [1] Group 2 - Huatai Securities noted that generative AI is entering a new development stage dominated by AI agents, with a trajectory of "first B2B, then B2C, and finally terminal" [2] - The AI ETF (515070) tracks the CS AI Theme Index (930713), focusing on companies providing technology, foundational resources, and applications in the AI sector, often referred to as the "robot brain" creators [2] - The top ten weighted stocks in the AI ETF include leading domestic technology companies such as Zhongji Xuchuang, Xinyisheng, and Hikvision, indicating a strong presence in the AI industry [2]