格隆汇9月8日｜香农芯创(300475.SZ)今日大涨17.31%，股价创历史新高，换手率12.76%，成交额26.83亿元。龙虎榜数据显示，深股通买入2亿元，卖出1.78 亿元，净买入2275万元；四家机构买入2.23亿元，卖出1.61亿元，净买入6236万元；游资"温州帮"位列买二席位，净买入1.71亿元。上榜席位全天买入7.25亿 元，卖出4.07亿元，合计净买入3.18亿元。(格隆汇) | 序号 | 交易营业部名称 | | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | --- | | | 深股通专用 | 686次 46.94% | 2 | 20027.34 | 7.46% | | 2 | 招商证券股份有限公司深圳深南大道车公庙证券营业部 | 9次 55.56% | | 17406.93 | 6.49% | | 3 | 光大证券股份有限公司东莞大朗长富西路证券营业部 | 1次 100.00% | | 7676.33 | 2.86% | | 4 | 机构专用 | 1676次 42.36% | | 6722.11 | 2.51% | | 5 | 机 ...

香农芯创(300475.SZ)今日大涨17.31%，股价创历史新高，换手率12.76%，成交额26.83亿元。龙虎榜数 据显示，深股通买入2亿元，卖出1.78亿元，净买入2275万元；四家机构买入2.23亿元，卖出1.61亿元， 净买入6236万元；游资"温州帮"位列买二席位，净买入1.71亿元。上榜席位全天买入7.25亿元，卖出 4.07亿元，合计净买入3.18亿元。 ...

香农芯创涨15.68%，报49.73元/股，股价再创新高，总市值突破230.63亿元，成交额达21.25亿元。（第 一财经AI快讯） ...

Group 1: Market Overview - Since 2025, the global storage market has shown a clear trend of low-to-high performance, with weak demand in early Q1 due to inventory destocking in major downstream terminals like smartphones and PCs, leading to a decline in NAND Flash and DRAM prices [1] - In March, terminal demand began to recover, and with downstream inventory returning to healthy levels, combined with major storage manufacturers implementing production cuts and inventory control strategies, the supply-demand balance improved significantly, resulting in a rebound in storage prices [1] - In the first half of 2025, the NAND Flash market composite price index increased by 9.2%, while the DRAM market composite price index surged by 47.7% [1] Group 2: Company Performance - In terms of revenue for the first half of the year, Jiangbolong achieved 1,019,565.537 thousand yuan, leading the market, followed by Demingli with 410,903.6587 thousand yuan, and Baiwei Storage with 391,233.6914 thousand yuan [4] - From a gross margin perspective, Tongyou Technology had a sales gross margin of 51.6%, while Jiangbolong's was 13%, Baiwei Storage and Wanrun Technology both at 9.1%, and Demingli at 5% [6] - In terms of net profit, Wanrun Technology reported a net profit of 1,553.53 thousand yuan, while Jiangbolong had a net profit of 1,476.6 thousand yuan; however, Demingli and Baiwei Storage reported significant net losses of -11,794.56 thousand yuan and -22,579.55 thousand yuan, respectively [7] Group 3: Inventory and R&D Investment - Jiangbolong led in inventory with 807,615.8102 thousand yuan, followed by Demingli with 464,262.8646 thousand yuan, indicating a strategic approach to stockpiling during low market conditions [9] - Jiangbolong also led in R&D investment with 44,573.88 thousand yuan, followed by Baiwei Storage with 27,292.89 thousand yuan, highlighting the importance of R&D in the storage module industry, especially with the growth in AI technology and data center storage demand [11][12]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000062 | 深圳华强 | 29.13 | 2.17% | 33.81万 | | 9.60亿 | | 300184 | 力源信息 | 11.34 | 1.52% | 85.16万 | | 9.41亿 | | 300736 | 百邦科技 | 12.35 | 1.48% | 8.50万 | | 1.06亿 | | 002729 | 好利科技 | 14.33 | 0.42% | 6.45万 | | 9354.37万 | | 301359 | 东南电子 | 20.48 | 0.39% | 2.95万 | | 6104.90万 | | 002388 | ST新亚 | 4.96 | 0.20% | 20.57万 | | 1.03亿 | | 002161 | 远望谷 | 7.86 | -0.38% | 27.17万 | | 2.13亿 | | 002130 | 沃尔核材 | 23.28 | -0.56% | 86.15万 | | 20.46亿 ...

Company Overview - Shannon Semiconductor is located in Nanshan District, Shenzhen, and was established on September 16, 1998. The company went public on June 10, 2015, and primarily engages in the distribution of electronic components [1]. - The company operates within the "Electronics - Other Electronics II - Other Electronics III" sector and is involved in various concept sectors including overseas expansion, storage, integrated circuits, semiconductors, and margin financing [1]. Financial Performance - For the first half of 2025, Shannon Semiconductor reported a revenue of 17.123 billion yuan, representing a year-on-year growth of 119.35%. The net profit attributable to shareholders was 158 million yuan, showing a slight increase of 0.95% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 290 million yuan in dividends, with 167 million yuan distributed over the past three years [2]. Stock Performance - As of September 4, the stock price of Shannon Semiconductor was 43.17 yuan per share, with a market capitalization of 20.021 billion yuan. The stock has increased by 51.84% year-to-date, with a 4.05% rise over the last five trading days, 20.25% over the last 20 days, and 27.61% over the last 60 days [1]. - The trading volume on September 4 was 168 million yuan, with a turnover rate of 0.87%. The net outflow of main funds was 2.0106 million yuan, while large orders accounted for 21.52% of buying and 20.89% of selling [1]. Shareholder Structure - As of June 30, the number of shareholders for Shannon Semiconductor was 34,000, a decrease of 27.69% from the previous period. The average number of circulating shares per person increased by 39.55% to 13,066 shares [2]. - Among the top ten circulating shareholders, E Fund Quality Momentum Three-Year Holding Mixed A (014562) was the eighth largest shareholder, holding 9.9666 million shares as a new investor [2].

Core Viewpoint - The announcement details the provision of guarantees by the company for its wholly-owned subsidiaries and the acceptance of guarantees from related parties, highlighting significant financial commitments and the company's overall financial health [1][2][3]. Group 1: Guarantee Provision - As of the announcement date, the maximum guarantee amount is set at RMB 10 million, with the total cumulative guarantee (including counter-guarantees) amounting to RMB 77.14 billion, which represents 262.63% of the company's audited net assets for 2024 [2][8]. - The company has provided guarantees totaling RMB 7.14 billion for its wholly-owned subsidiary, Shenzhen Xinlianxin Storage Technology Co., Ltd. [2][8]. - The company approved a total guarantee limit of up to RMB 82.4 billion for several subsidiaries, including RMB 70.85 billion for United Chuangtai Technology Co., Ltd. and RMB 8.65 billion for Xinlianxin [3][4]. Group 2: Related Party Guarantees - The company accepted guarantees from related parties, allowing for a maximum of RMB 23 billion in credit enhancement measures, which include guarantees and counter-guarantees [6]. - The company and a related party agreed to provide a joint liability guarantee of up to RMB 10 million for Xinlianxin's loan application to Shanghai Pudong Development Bank [6][7]. Group 3: Guarantee Adjustments - Following the annual shareholders' meeting, the company adjusted the guarantee amounts for its subsidiaries, increasing the guarantee for United Chuangtai to RMB 72.25 billion and reducing the amounts for Chuangtai Electronics and Xinlianxin to RMB 9 million and RMB 7.35 billion, respectively [4]. Group 4: Cumulative Guarantees from Related Parties - Since the beginning of the year, a related party has provided guarantees totaling RMB 83.75 billion, with a cumulative total of RMB 103.13 billion for the company [9]. - The company has not provided any guarantees for the related party or its affiliates during the current year or in previous years [9].

证券代码：300475 证券简称：香农芯创 公告编号：2025-066 香农芯创科技股份有限公司 关于为全资子公司提供担保及接受关联方提供担保 暨关联交易的进展公告 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。 特别提示： 1、截至本公告日，以本次本金最高担保额人民币 1000 万元计算，公司累计 担保（含反担保）合同金额为人民币 77.14 亿元（美元合同汇率按照 2025 年 9 月 1 日中国外汇交易中心受权公布人民币汇率中间价 1 美元对 7.1072 元人民币 计算，不含子公司提供的担保。对同一债务提供的复合担保只计算一次。下同）， 占公司 2024 年度经审计净资产的比例为 262.63%。 一、审议情况概述 （一）担保审议情况概述 香农芯创科技股份有限公司（以下简称"公司"）分别于 2025 年 4 月 3 日、 4 月 29 日召开第五届董事会第十次会议、2024 年年度股东大会，审议通过了《关 于申请授信并为全资子公司提供担保额度的议案》，同意为联合创泰科技有限公 司（以下简称"联合创泰"）、宁国聚隆减速器有限公司、联合创泰(深圳)电子有 ...

华安证券股份有限公司 关于香农芯创科技股份有限公司 2025 年半年度跟踪报告 | 保荐机构名称：华安证券股份有限公司 | 被保荐公司简称：香农芯创 | | --- | --- | | 保荐代表人姓名：田之禾 | 联系电话：0551-65161771 | | 保荐代表人姓名：王晨 | 联系电话：0551-65161771 | 二、保荐人发现公司存在的问题及采取的措施 | 事 项 | 存在的问题 | 采取的措施 | | --- | --- | --- | | 1.信息披露 | 无 | 不适用 | | 2.公司内部制度的建立和执行 | 无 | 不适用 | | 3."三会"运作 | 无 | 不适用 | | 4.控股股东及实际控制人变动 | 无 | 不适用 | | 5.募集资金存放及使用 | 无 | 不适用 | | --- | --- | --- | | 6.关联交易 | 无 | 不适用 | | 7.对外担保 | 无 | 不适用 | | 8.购买、出售资产 | 无 | 不适用 | | 9.其他业务类别重要事项（包括对外投资、 风险投资、委托理财、财务资助、套期保值 | 无 | 不适用 | | 等） | | | | 1 ...

Investment Rating - The investment rating for the company is "Accumulate" [4] Core Views - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 17.123 billion yuan, a year-on-year increase of 119.35%, and a net profit of 158 million yuan, a year-on-year increase of 0.95% [1] - The strong performance is attributed to increased market demand, rising storage prices in Q2, and adjustments in the company's product structure [1] - The company's "product + distribution" strategy is expected to continue to drive growth, particularly in the cloud computing storage sector [2] Financial Summary - The company’s revenue projections for 2025-2027 have been adjusted to 35 billion, 40.68 billion, and 46.218 billion yuan, reflecting year-on-year growth rates of 44.2%, 16.2%, and 13.6% respectively [3] - The forecast for net profit for the same period is 431 million, 730 million, and 1.071 billion yuan, with year-on-year growth rates of 63.2%, 69.3%, and 46.9% respectively [3] - The earnings per share (EPS) are projected to be 0.93, 1.57, and 2.31 yuan for 2025, 2026, and 2027 respectively [3] - As of August 28, 2025, the stock price was 41.49 yuan, corresponding to price-to-earnings (PE) ratios of 36X, 21X, and 15X for the years 2025, 2026, and 2027 [3] Business Development - The company is collaborating with major players like Hynix and DaPo Micro to develop enterprise-level SSD and RDIMM products, which are progressing well [2] - A joint venture with Wuxi Lingjing Cloud Information Technology Co., Ltd. is expected to enhance the company's product sales channels and overall competitiveness [2]