长沙景嘉微电子股份有限公司（以下简称"公司"）近日收到公司控股股东、 实际控制人之一致行动人乌鲁木齐景嘉合创股权投资合伙企业（有限合伙）（以 下简称"景嘉合创"）函告，获悉其将所持有的部分公司股份办理了解除质押。 具体情况如下： 二、股东股份累计质押的情况 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： 股 东 名 称 是否为第 一大股东 及一致行 动人 解除质押 股数 （股） 占其所持 股份比例 占公司总 股本比例 质押开 始日期 解除质 押日期 质权人 景 嘉 合 创 是 4,612,500 30.75% 0.88% 2022 年 4 月 13 日 2025 年 4 月 9 日 国泰海通证 券股份有限 公司 4,272,500 28.48% 0.82% 2022 年 4 月 13 日 2025 年 4 月 11 日 国泰海通证 券股份有限 公司 一、股东股份解除质押的基本情况 证券代码：300474 证券简称：景嘉微 公告编号：2025-011 长沙景嘉微电子股份有限公司 关于公司控股股东、实际控制人之一致行动人 部分股份解除质押的公告 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 ...

证券代码：300474 证券简称：景嘉微 公告编号：2025-010 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。 长沙景嘉微电子股份有限公司（以下简称"公司"）近日收到公司控股股东、 实际控制人之一致行动人乌鲁木齐景嘉合创股权投资合伙企业（有限合伙）（以 下简称"景嘉合创"）函告，获悉其将所持有的部分公司股份办理了解除质押。 具体情况如下： 股 东 名 称 是否为 第一大 股东及 一致行 动人 解除质押 股数 （股） 占其所持 股份比例 占公司 总股本 比例 质押开 始日期 解除质 押日期 质权人 景 嘉 合 创 是 1,500,000 10.00% 0.29% 2021 年 9 月 28 日 2025 年 4 月 3 日 上海浦东 发展银行 股份有限 公司长沙 分行 一、股东股份解除质押的基本情况 | | | | 2022 | 年 | 2025 | | 国泰海通 | | --- | --- | --- | --- | --- | --- | --- | --- | | 340,000 | 2.27% | 0.07% | 4 月 | 13 | 年 4 | ...

Group 1: Company Overview - Jingjia Microelectronics, established in April 2006, is the first domestic company to achieve the industrial application of GPU chips and is publicly listed [1] - The company's main business segments include graphics control, small specialized radar, and GPU chip business, with revenue contributions of 65%, 18%, and 14% respectively in 2023 [1] - The latest JM11 series GPU has completed the tape-out, packaging, and initial testing phases, showing potential for various cloud applications and broad usage in servers, workstations, desktops, and laptops [1] Group 2: Market Trends - The global GPU market is projected to reach $105 billion by 2025, growing at a rate of 32.8%, and is expected to increase to $246.5 billion by 2028 [2] - The current GPU market is dominated by overseas companies like NVIDIA and AMD, with a market share of 90% and 10% respectively, indicating significant room for domestic alternatives [2] - The rise of AI applications is driving demand for GPU chips, particularly in training and inference, creating opportunities for domestic GPU manufacturers [2] Group 3: Strategic Initiatives - The company is actively expanding into the civilian market and has made significant investments in high-performance GPU development to create a second growth curve [3] - Collaborations with major domestic CPU manufacturers and operating system vendors are underway to build a localized computing application ecosystem [3] - In October 2024, the company announced a private placement to raise approximately 3.833 billion yuan for high-performance GPU chip R&D and advanced architecture development [3] Group 4: Financial Projections - Revenue projections for the company from 2024 to 2026 are estimated at 580 million, 720 million, and 930 million yuan, with year-on-year changes of -18.68%, +24.14%, and +29.17% respectively [4] - Net profit forecasts for the same period are 83 million, 135 million, and 172 million yuan, reflecting growth rates of +39.0%, +61.9%, and +27.0% [4] - The company's EPS is projected to be 0.16, 0.26, and 0.33 yuan for the years 2024, 2025, and 2026 [4]

Market Overview - The Shanghai Composite Index fell by 0.46% on March 31, with four sectors rising, led by telecommunications and home appliances, which increased by 0.58% and 0.37% respectively [1] - The sectors with the largest declines were electric power equipment and national defense industry, which dropped by 1.94% and 1.81% respectively [1] - Overall, there was a net outflow of 40.409 billion yuan in the main funds across the two markets, with five sectors experiencing net inflows [1] Sector Performance - The public utilities sector had the largest net inflow of funds, totaling 311 million yuan, while it rose by 0.15% [1] - The steel sector also saw a net inflow of 283 million yuan despite a decline of 1.45% [1] - A total of 26 sectors experienced net outflows, with electric power equipment leading at 5.832 billion yuan, followed by machinery equipment with 5.311 billion yuan [1] National Defense Industry - The national defense industry saw a decline of 1.81% with a net outflow of 2.175 billion yuan [2] - Out of 139 stocks in this sector, 22 rose while 115 fell, including one stock that hit the daily limit down [2] - The top three stocks with net inflows were Yaxing Anchor Chain (22.978 million yuan), Zhongke Haixun (21.664 million yuan), and Aopu Optoelectronics (15.279 million yuan) [2] National Defense Industry Outflows - The top three stocks with the largest net outflows were Guangqi Technology (-24.526 million yuan), Jingjiawei (-13.736 million yuan), and Tianhai Defense (-13.063 million yuan) [4] - Other notable outflows included China Shipbuilding (-8.134 million yuan) and AVIC Heavy Machinery (-9.586 million yuan) [4]

Core Viewpoint - The 2025 China Industrial Transfer Development Matching Event (Hunan) in Changsha marks a significant opportunity for the region, with 337 projects and an intended investment of 308.6 billion yuan, positioning Changsha as a key player in industrial transfer [1] Group 1: Industrial Development Strategy - Changsha has established itself as a leader in industrial transfer by focusing on emerging and advantageous industrial chains, creating a robust industrial foundation [2] - The city has achieved three national-level advanced manufacturing clusters and two national-level characteristic industrial clusters, showcasing its industrial growth during the 14th Five-Year Plan [2] - Changsha's engineering machinery industry cluster is recognized as a world-class advanced manufacturing cluster, with a scale that has ranked first in the nation for over a decade [3] Group 2: Resource Utilization - The city has developed a unique "advanced computing" pathway, leveraging its innovative and resourceful environment to create a competitive edge in the industry [5] - Changsha's advanced computing cluster includes over 1,400 enterprises, with significant contributions from state-owned and leading companies, as well as numerous small and medium-sized enterprises [5][6] - The cluster has established 32 national-level innovation platforms and has made breakthroughs in critical technologies, positioning Changsha as a leader in domestic chip design [6] Group 3: Business Environment - Changsha has improved its business environment through reforms and initiatives that support enterprise growth, including various networking and service activities [7][8] - The city has implemented a precise service mechanism to assist enterprises, resulting in significant financing and transaction volumes [7] - The efficient service model in industrial parks has been highlighted by rapid project execution and tailored support for businesses, enhancing the overall investment climate [9]

长沙景嘉微电子股份有限公司 简式权益变动报告书 上市公司名称：长沙景嘉微电子股份有限公司 股票上市地点：深圳证券交易所 股票简称：景嘉微 一、信息披露义务人依据《中华人民共和国公司法》、《中华人民共和国 证券法》（以下简称"《证券法》"）、《上市公司收购管理办法》（以下简 称"《收购办法》"）、《公开发行证券的公司信息披露内容与格式准则第 15 号—权益变动报告书》（以下简称"《准则 15 号》"）及相关的法律、法规编 写本报告书。 二、信息披露义务人签署本报告已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 股票代码：300474 信息披露义务人名称：国家集成电路产业投资基金股份有限公司 住所：北京市北京经济技术开发区景园北街 2 号 52 幢 7 层 718 室 通信地址：北京市西城区真武庙 1 号职工之家 C 座 21-23 层 股份变动性质：股份减少，持股比例下降至 5%以下（主动减持、被动变 动） 签署日期：二〇二五年三月 1 / 17 信息披露义务人声明 本部分所述词语或简称与本报告书"释义"所述词语或简称具有相同含 义。 三、依据《证券法》《收购办 ...

证券代码：300474 证券简称：景嘉微 公告编号：2025-009 长沙景嘉微电子股份有限公司 特别提示： 1、本次权益变动的股份源于国家集成电路产业投资基金股份有限公司（以 下简称"国家集成电路基金"）参与认购 2018 年长沙景嘉微电子股份有限公司 （以下简称"公司"）发行股票，本次权益变动未触及要约收购。 2、本次权益变动后，股东国家集成电路基金持有公司股份 26,130,861 股， 占公司总股本的比例为 4.99998%。 3、本次权益变动不会导致公司控股股东和实际控制人发生变化，不会影响 公司的治理结构和持续经营。 关于披露简式权益变动报告书的提示性公告 股东国家集成电路产业投资基金股份有限公司保证向公司提供的信息内容 真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 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。 4、关于国家集成电路基金权益变动的具体内容详见公司同日在巨潮资讯网 （www.cninfo.com.cn）披露的《简式权益变动报告书》。 一、本次权益变动的基本情况 三、其他相关说明 1、本次股份变动事项符合《中华人民共和国证券 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6] Core Views - The company is a pioneer in the domestic GPU field, continuously iterating its products and expanding applications from military to consumer and AI computing [1][2] - The company is transitioning from a "specialized" to a "specialized + general" product strategy, leveraging AI and consumer-grade graphics cards to open new growth avenues [2] - The domestic GPU market is expected to grow significantly, driven by increasing demand for AI capabilities and government support for computing infrastructure [3][4] Summary by Sections 1. Domestic GPU Pioneer - The company successfully developed the first domestically produced GPU chip and has been a leader in the field since 2007, with product evolution from the JM5 series to the JM11 series and the Jinghong series [1][14] - In 2023, the company's revenue was affected by macroeconomic fluctuations and demand changes, with revenue contributions from graphics display, chips, and radar at 65.1%, 14.2%, and 18.5% respectively [1][17] 2. AI Computing Opportunities - The company is capitalizing on the AI-driven demand for GPUs, with the JM11 series chips compatible with major operating systems and suitable for gaming, animation, cloud computing, and AI applications [2][34] - The launch of the Jinghong series high-performance intelligent computing modules aims to fill gaps in AI training and scientific computing, supporting various mixed-precision operations [2][14] 3. Financial Forecast and Valuation - Revenue projections for 2024-2026 are estimated at 5.15 billion, 7.77 billion, and 10.47 billion yuan, with corresponding growth rates of -27.82%, +50.96%, and +34.66% [4][11] - The company is compared to peers in the GPU sector, with a projected price-to-sales ratio of 60 times for 2025, indicating a favorable valuation compared to competitors [4][12]

Company Overview - The company focuses on information detection, processing, and comprehensive applications, providing high-quality and reliable products and solutions [2] - Main business areas include graphic display control, specialized radar, and chip development, with graphic display control being the core business [2] - The company has developed a series of graphic processing chips, including JM5400, JM7200, and JM9, and has successfully industrialized them [2] Recent Performance and Challenges - The company's 2024 performance was impacted by several factors, including a significant decline in specialized product sales due to industry demand, price discrepancies affecting revenue, and increased market competition leading to lower gross margins [4] - High R&D investment has contributed to profit decline, indicating a focus on long-term growth despite short-term challenges [4] Product Development - The JM11 series graphic processing chip supports multiple operating systems and is designed for cloud applications and high-performance rendering scenarios [5] - The company is committed to continuous R&D investment to enhance product competitiveness and contribute to the advancement of domestic graphic processing chip technology [3] Future Outlook - The company aims to expand product application areas and maintain a balance between performance growth and shareholder returns, ensuring a sustainable value return mechanism for investors [8] - The company is optimistic that temporary performance fluctuations will not affect its long-term and stable development [8] Strategic Initiatives - The company is actively promoting its fundraising projects to enhance its competitive advantage and profitability in the industry [7] - The rise of AI technologies, such as DeepSeek, presents both opportunities and challenges, prompting the company to explore AI applications in its business [6]

证券代码：300474 证券简称：景嘉微 公告编号：2025-008 长沙景嘉微电子股份有限公司 关于公司及子公司签订募集资金四方监管 协议的公告 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。 一、募集资金基本情况 长沙景嘉微电子股份有限公司（以下简称"公司"）经中国证券监督管理委 员会《关于同意长沙景嘉微电子股份有限公司向特定对象发行股票注册的批复》 （证监许可〔2024〕841 号）同意注册，公司向特定对象发行人民币普通股（A 股）共计 63,986,969 股，每股面值人民币 1 元，每股发行价格人民币 59.91 元， 募集资金总额为人民币 3,833,459,312.79 元，扣除各项发行费用人民币（不含税 金额）6,536,203.01 元后，实际募集资金净额为人民币 3,826,923,109.78 元。 上述募集资金于 2024 年 10 月 23 日全部到账，并于 2024 年 10 月 24 日经 中瑞诚会计师事务所（特殊普通合伙）审验，出具了中瑞诚验字[2024]第 404826 号《验资报告》。公司已将上述募集资金全部存放于募集资金专 ...