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。 一、董事会会议召开情况 证券代码：300458 证券简称：全志科技 公告编号：2025-1122-001 珠海全志科技股份有限公司(以下简称"公司")第五届董事会第二十次会议 于2025年11月21日在公司二楼会议室以现场表决与通讯表决相结合的方式召开， 本次应出席董事7人，实际出席董事7人。其中参加现场表决的董事5人，陈亚斌 先生、王忠为先生2人以通讯形式参加表决。会议通知已于2025年11月18日以电 子邮件、传真或电话通知的方式向全体董事送达，会议由董事长张建辉先生主持。 会议的召开符合《中华人民共和国公司法》和《公司章程》的有关规定。 二、董事会会议审议情况 珠海全志科技股份有限公司 第五届董事会第二十次会议决议公告 本次会议经审议表决作出如下决议： 部分条款进行修订，并根据前述修改的内容重新制定《公司章程》。 1.审议通过了《关于修订<公司章程>的议案》 同时提请股东会授权公司相关人员办理上述涉及的工商变更登记、章程备案 等相关事宜。 表决结果：同意 7 票；反对 0 票；弃权 0 票。 本议案尚需提交 ...

（记者 张明双） 截至发稿，全志科技市值为329亿元。 每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 每经AI快讯，全志科技（SZ 300458，收盘价：39.91元）11月21日晚间发布公告称，公司第五届第二十 次董事会会议于2025年11月21日在公司二楼会议室以现场表决与通讯表决相结合的方式召开。会议审议 了《关于修订 <董事会审计委员会工作条例> 的议案》等文件。 2024年1至12月份，全志科技的营业收入构成为：集成电路设计占比99.98%，房租占比0.02%。 ...

Core Viewpoint - On November 20, Allwinner Technology experienced a slight decline of 0.19% with a trading volume of 426 million yuan, indicating a mixed market sentiment towards the company [1] Financing Summary - On November 20, Allwinner Technology had a financing buy-in amount of 31.72 million yuan and a financing repayment of 49.55 million yuan, resulting in a net financing outflow of 17.83 million yuan [1] - As of November 20, the total financing and securities lending balance for Allwinner Technology was 1.567 billion yuan, with the financing balance at 1.552 billion yuan, accounting for 4.55% of the circulating market value, which is above the 60th percentile level over the past year [1] - In terms of securities lending, on November 20, Allwinner Technology repaid 300 shares and sold 900 shares, with a selling amount of 37,200 yuan, while the securities lending balance was 14.51 million yuan, exceeding the 90th percentile level over the past year [1] Company Performance Summary - As of September 30, Allwinner Technology had 157,300 shareholders, an increase of 14.26% from the previous period, with an average of 4,294 circulating shares per person, a decrease of 12.48% [2] - For the period from January to September 2025, Allwinner Technology achieved an operating income of 2.161 billion yuan, representing a year-on-year growth of 28.21%, and a net profit attributable to shareholders of 278 million yuan, reflecting a year-on-year increase of 84.41% [2] - Since its A-share listing, Allwinner Technology has distributed a total of 934 million yuan in dividends, with 348 million yuan distributed over the past three years [2] Institutional Holdings Summary - As of September 30, 2025, Hong Kong Central Clearing Limited was the second-largest circulating shareholder of Allwinner Technology, holding 44.8581 million shares, an increase of 7.205 million shares from the previous period [2] - The E Fund ChiNext ETF (159915) ranked as the seventh-largest circulating shareholder, holding 12.6897 million shares, a decrease of 2.1252 million shares from the previous period [2] - The Southern CSI 500 ETF (510500) was the ninth-largest circulating shareholder, holding 8.4133 million shares, a decrease of 150,200 shares from the previous period [2]

Core Insights - In 2025, advancements in hardware lightweight design and basic AI functionalities will enhance the user experience and drive product innovation in smart glasses [1] - The Chinese smart glasses market is expected to reach a critical turning point in 2026, with significant changes in product forms, interaction methods, and service models [1] - Global smart glasses shipments are projected to exceed 23.687 million units in 2026, with China's shipments surpassing 4.915 million units, marking the beginning of a new phase of scaled growth [1] Industry Analysis - Jianghai Securities anticipates rapid promotion and popularization of smart glasses as a key carrier for AI, recommending attention to companies in the supply chain such as Xiaomi Group-W, Hengxuan Technology, Allwinner Technology, GoerTek, and Crystal Optoelectronics [1] - Founder Securities suggests that with major industry players accelerating their strategies and supply chain efficiency improvements, AI+AR glasses are likely to develop quickly, recommending focus on ODM and acoustic segment representatives like GoerTek, as well as other companies in the ODM and optical segments [1]

Core Viewpoint - Yushu Technology Co., Ltd. plans to submit its IPO application in Q4 2025, marking a significant milestone as the first profitable humanoid robot company globally, which is expected to attract attention to the entire humanoid robot industry chain [1] Shareholding/Investment - Juxing Technology holds shares in Yushu Technology through its subsidiary, ensuring clear equity investment and direct asset appreciation [3] - Jing Shan Light Machine participated in Yushu's early investment through an industrial investment fund, though specific shareholding ratios are not disclosed [3] - Shoukai Co., Ltd. indirectly holds approximately 0.85% of shares through the Jinshi Growth Fund, indicating a relatively high indirect shareholding among A-share listed companies [3] - Jinfat Technology holds 4.77% indirectly through the Jinshi Growth Fund and is a leading chemical materials company with over 60% market share in robot shell materials, reporting a 35.5% revenue growth in H1 2025 [3] - Wolong Electric Drive holds 0.1525% indirectly and has seen a 36.76% net profit increase in H1 2025, with a gross margin of 28% [3] - Other companies like Jingxing Paper and Rongsheng Environmental Protection hold minor indirect stakes, primarily for financial investment [3][4] Core Suppliers - Zhongdali De is the core supplier of planetary reducers, with orders locked at 3.2 billion yuan for 2025, accounting for 36% of Yushu's costs [6] - Changsheng Bearings exclusively supplies self-lubricating bearings with over 80% penetration, expecting 8% of its revenue from robot business in 2025 [6] - Aobi Zhongguang is the sole supplier of 3D vision modules, with a supply ratio of 72% and a doubling of revenue in H1 2025 [6] - Lide Technology provides flexible tactile sensors, breaking the monopoly of Korean companies [6] - Weilan Lithium Core is the core supplier of lithium batteries for Yushu, with an expected 60% supply ratio in 2024 [6] Technical Cooperation Partners - iFLYTEK collaborates on developing the "robot brain," with a leading position in voice recognition and a planned R&D investment of 2.392 billion yuan in 2025 [8] - Lingyun Optical is jointly developing the FZMotion motion capture system, achieving high precision and expected stock price growth of over 200% in 2025 [8] - Zhongke Chuangda provides motion control algorithms and holds 1.86% of shares, with strong adaptability in edge computing modules [8] - Other partners include Shuanglin Co., Ltd. and Shengtong Co., Ltd., focusing on various components and educational collaborations in robotics [8][9]

Core Viewpoint - Allwinner Technology (300458.SZ) has announced its participation in the investment of Shenzhen Anchuang Technology Equity Investment Partnership (Limited Partnership) [1] Group 1 - Allwinner Technology is actively engaging in investment opportunities to expand its portfolio [1]

Group 1 - The storage chip sector experienced a collective rise, with companies like ShenGong Co. and Yingtang Zhikong hitting the daily limit, while others like Purun Co. and Shannon Chip also saw significant gains [1] - SanDisk, a leader in flash memory, announced a substantial price increase of up to 50% for NAND flash contracts, prompting companies like Transcend and ADATA to halt shipments and reassess pricing [1] - SanDisk's Q1 FY2026 revenue reached $2.308 billion, a 23% year-over-year increase, with NAND product demand exceeding supply and inventory turnover days decreasing from 135 to 115 days [1] Group 2 - The average stock price of storage-related companies has risen by 85.43% this year, with Demingli, Dongxin Co., and Jiangbolong leading with increases of 355.04%, 264.46%, and 230.31% respectively [2] - In November, seven storage concept stocks were investigated by institutions, with companies like Kechuang Data and Fudan Microelectronics receiving significant attention [2] - Kechuang Data reported a revenue of 8.331 billion yuan for the first three quarters of the year, a 54.43% increase year-over-year, benefiting from the rapid growth of AI services and a favorable storage market [2] Group 3 - Among storage concept stocks, companies like Lanke Technology, Unisoc, and Zhaoyi Innovation reported net profits exceeding 1 billion yuan in the first three quarters [3] - More than half of the storage concept stocks received increased financing in November, with six stocks seeing net purchases exceeding 100 million yuan, including Jiangbolong and Demingli [3]

Group 1 - The core point of the news is that Allwinner Technology's stock has experienced a continuous decline, with a total drop of 10.43% over the past seven days, closing at 43.70 CNY per share on November 5, with a market capitalization of 36.071 billion CNY [1] - Allwinner Technology, established on September 19, 2007, and listed on May 15, 2015, specializes in the research and design of intelligent application processors SoC, high-performance analog devices, and wireless interconnect chips, with 100% of its main business revenue coming from intelligent terminal application processor chips [1] - The trading volume for Allwinner Technology on November 5 was 815 million CNY, with a turnover rate of 2.76% [1] Group 2 - From the perspective of the top ten circulating shareholders, E Fund's ETF (159915) reduced its holdings by 2.1252 million shares in the third quarter, now holding 12.6897 million shares, which is 1.88% of the circulating shares, resulting in a floating loss of approximately 8.2483 million CNY today and a total floating loss of 64.5903 million CNY during the seven-day decline [2] - E Fund's ETF (159915) was established on September 20, 2011, with a latest scale of 110.2 billion CNY, achieving a year-to-date return of 48.21% and a one-year return of 45.15% [2] - The fund managers, Cheng Xi and Liu Shurong, have managed the fund for 9 years and 8 years respectively, with total assets under management of 250.121 billion CNY and 141.127 billion CNY, achieving best returns of 131.04% and 194.12% during their tenure [2]

Core Viewpoint - The stock of Allwinner Technology experienced a decline of 2.01% on November 4, with a trading price of 44.86 CNY per share and a total market capitalization of 37.03 billion CNY. The company has seen a year-to-date stock price increase of 51.44% but has faced recent declines over the past five and twenty trading days [1]. Financial Performance - For the period from January to September 2025, Allwinner Technology reported a revenue of 2.16 billion CNY, representing a year-on-year growth of 28.21%. The net profit attributable to shareholders was 278 million CNY, showing an impressive increase of 84.41% compared to the previous year [2]. Shareholder Information - As of September 30, 2025, Allwinner Technology had 157,300 shareholders, an increase of 14.26% from the previous period. The average number of tradable shares per shareholder was 4,294, which decreased by 12.48% [2]. Dividend Distribution - Since its A-share listing, Allwinner Technology has distributed a total of 934 million CNY in dividends, with 348 million CNY distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, the second-largest circulating shareholder of Allwinner Technology was Hong Kong Central Clearing Limited, holding 44.86 million shares, an increase of 7.21 million shares from the previous period. The seventh-largest shareholder, E Fund's ChiNext ETF, reduced its holdings by 2.13 million shares [3].

Investment Rating - The industry rating is maintained at "Overweight" [4] Core Insights - The global smart glasses market saw a shipment volume of 4.065 million units in the first half of 2025, representing a year-on-year growth of 64.2% [4] - The growth in the smart glasses market is driven by various factors including AI technology empowerment, supply chain optimization, optical solution development, and the entry of major players into the ecosystem [4] - The report highlights the launch of multiple new products in the smart glasses category, indicating a rapid promotion and popularization phase for smart glasses as an important carrier of AI at the edge [5] Summary by Sections Industry Performance - The electronic industry has shown relative returns of 0.16% over one month, 27.29% over three months, and 38.97% over twelve months compared to the CSI 300 index [2] - Absolute returns for the same periods are 3.8%, 41.56%, and 58.17% respectively [2] Market Developments - The report notes the release of the Galaxy XR by Samsung, which is the first product based on the Android XR platform, integrating multi-modal AI capabilities [4] - The report also mentions the launch of the Thunder Air 4 series AR glasses and the INMO GO3 smart glasses, showcasing the innovation in the smart glasses market [4] Future Outlook - The smart glasses industry is expected to enter a rapid development phase, with a focus on related companies such as Xiaomi Group-W, Hengxuan Technology, Allwinner Technology, GoerTek, and Crystal Optoelectronics [5]