Core Viewpoint - The financial performance of Shannon Chip Creation (300475) for the first half of 2025 shows significant growth in revenue but a slight increase in net profit, indicating a mixed financial outlook with concerns over cash flow and receivables [1][2]. Financial Performance Summary - Total revenue reached 17.123 billion yuan, a year-on-year increase of 119.35% [1] - Net profit attributable to shareholders was 158 million yuan, up 0.95% year-on-year [1] - Gross margin decreased to 2.65%, down 55.33% year-on-year [1] - Net margin fell to 0.88%, a decrease of 53.82% year-on-year [1] - Total receivables accounted for 872.23% of net profit, indicating a high level of receivables relative to profit [1][9] Revenue and Cost Analysis - Revenue growth of 119.35% attributed to increased market demand, higher product prices, and changes in product structure [2] - Operating costs increased by 127.01%, driven by similar factors affecting revenue [2] - Tax expenses rose by 79.46%, influenced by previous year’s deferred tax adjustments [2] Balance Sheet Insights - Accounts receivable increased by 14.42% to 2.303 billion yuan [1][3] - Inventory decreased by 32.99%, indicating sales outpaced purchases [3] - Short-term borrowings rose by 65.11%, reflecting increased bank loans [3] - Contract liabilities surged by 1640.27%, due to increased pre-sales [3] Cash Flow Analysis - Net cash flow from operating activities increased by 52.71%, as sales exceeded purchases [8] - Net cash flow from investing activities decreased by 158.28%, due to fewer stock disposals [8] - Net cash flow from financing activities fell by 45.55%, impacted by increased loan repayments [8] Investment Sentiment - Analysts project 2025 earnings at 624 million yuan, with an average earnings per share of 1.34 yuan [4] - The company is held by prominent fund managers, with significant recent increases in holdings [5][7]

财报体检工具显示：建议关注公司现金流状况(货币资金/流动负债仅为23.48%、近3年经营性现金流均 值/流动负债仅为-0.12%)建议关注公司债务状况(有息资产负债率已达27.37%、近3年经营性现金流均值 为负)建议关注财务费用状况(近3年经营活动产生的现金流净额均值为负)建议关注公司应收账款状况(应 收账款/利润已达872.23%) 本次财报公布的各项数据指标表现尚佳。其中，毛利率2.65%，同比减55.33%，净利率0.88%，同比减 53.82%，销售费用、管理费用、财务费用总计2.3亿元，三费占营收比1.35%，同比减44.81%，每股净资 产6.89元，同比增14.28%，每股经营性现金流-1.07元，同比增53.35%，每股收益0.34元 | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 78.06亿 | 171.23亿 | 119.35% | | 归母净利润(元) | 1.56亿 | 1.58亿 | 0.95% | | 扣非净利润(元) | 2.19亿 | 1.56亿 | -28.76% | | 货 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company, indicating an expectation to outperform the benchmark index by over 20% in the next six months [4][22]. Core Insights - The company reported significant improvement in profitability for Q2 2025, with a revenue of 92.17 billion yuan, representing a year-over-year increase of 67.48% and a quarter-over-quarter increase of 16.59%. The net profit for the same quarter was 1.41 billion yuan, showing a year-over-year decrease of 0.8% but a substantial quarter-over-quarter increase of 743.49% [1][7]. - The report highlights that the company is benefiting from rising storage prices and a favorable product mix, which has led to improved gross and net profit margins in Q2 2025 [7]. - The company is well-positioned to capitalize on the expected continued rise in storage prices in Q3 2025, with projections indicating a potential increase of 10% to 20% in DRAM prices due to supply constraints and seasonal demand [7]. Financial Summary - For the first half of 2025, the company achieved a total revenue of 171.23 billion yuan, a year-over-year increase of 119.35%. The net profit attributable to shareholders was 1.58 billion yuan, reflecting a year-over-year increase of 0.95% [1][7]. - The financial forecast for the company shows a projected revenue growth from 24.27 billion yuan in 2024 to 47.04 billion yuan by 2027, with corresponding net profits expected to rise from 264 million yuan to 1.05 billion yuan over the same period [3][8]. - The report provides a target price of 61.24 yuan per share, based on a 35x price-to-earnings ratio for 2026, indicating significant upside potential from the current price of 43.51 yuan [4][7].

2025年8月27日，香农芯创(300475.SZ)发布2025年中报。 公司营业总收入为171.23亿元，在已披露的同业公司中排名第2，较去年同报告期营业总收入增加93.17亿元，实现2年连续上涨，同比较去年同期上涨 119.35%。归母净利润为1.58亿元，在已披露的同业公司中排名第6，较去年同报告期归母净利润增加149.16万元，同比较去年同期上涨0.95%。经营活动现 金净流入为-4.98亿元，较去年同报告期经营活动现金净流入增加5.55亿元。 公司摊薄每股收益为0.34元，在已披露的同业公司中排名第6。 公司最新总资产周转率为2.07次，在已披露的同业公司中排名第1，较去年同期总资产周转率增加0.65次，实现2年连续上涨，同比较去年同期上涨45.77%。 最新存货周转率为6.99次，在已披露的同业公司中排名第1，较去年同期存货周转率增加2.22次，实现2年连续上涨，同比较去年同期上涨46.54%。 公司股东户数为3.40万户，前十大股东持股数量为1.96亿股，占总股本比例为42.29%，前十大股东持股情况如下： | 序号 | 股东名称 | 持股 | | --- | --- | --- | | | 深 ...

（记者 胡玲） 每经AI快讯，香农芯创（SZ 300475，收盘价：43.51元）8月27日发布公告称，公司第五届第十二次董 事会会议于2025年8月25日以现场结合通讯方式召开。会议审议了《关于召开2025年第一次临时股东大 会的议案》等文件。 2024年1至12月份，香农芯创的营业收入构成为：电子元器件分销占比97.15%，电气机械和器材制造业 占比1.45%，电子元器件制造业务占比1.2%，通用设备制造业占比0.19%。 每经头条（nbdtoutiao）——能给主人"打电话"的宠物智能手机也来了！宠物产业3000亿元市场大爆 发，行业上市公司"涨"声一片 ...

Core Viewpoint - The company has approved a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.35 yuan per 10 shares, based on a total share capital of 463,773,767 shares, reflecting a commitment to shareholder returns while maintaining financial stability [3][12][30]. Company Overview - The company is named Shannon Semiconductor Technology Co., Ltd., with a stock code of 300475 [1]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [5]. Financial Data and Profit Distribution - The net profit attributable to shareholders for the first half of 2025 is reported at 157,832,328.06 yuan, with a total distributable profit of 714,162,539.04 yuan after accounting for previous distributions and retained earnings [12][30]. - The profit distribution plan includes a cash dividend of 0.35 yuan per 10 shares, with no stock dividends or capital reserve transfers [12][30]. Board and Supervisory Meetings - The fifth board of directors and the supervisory board held meetings on August 25, 2025, where the half-year report and profit distribution plan were unanimously approved [10][23]. - The meetings were conducted in compliance with legal and regulatory requirements [9][22]. Shareholder Meeting - A temporary shareholder meeting is scheduled for September 12, 2025, to review and approve the profit distribution plan [37][40]. - The meeting will be conducted both in-person and via online voting, ensuring accessibility for all shareholders [39][40]. Guarantee and Related Transactions - The company has provided guarantees totaling 77.12 billion yuan, which is 262.56% of its audited net assets for 2024, primarily for its wholly-owned subsidiaries [59][60]. - The company has also engaged in related party transactions, including guarantees provided by related parties totaling 230 billion yuan [61][62].

证券代码：300475 证券简称：香农芯创 公告编号：2025-063 （一）董事会审议程序 香农芯创科技股份有限公司 关于 2025 年半年度利润分配预案的公告 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。 一、本次利润分配预案的内容 根据香农芯创科技股份有限公司（以下简称"公司"）2025 年半年度财务 报告(未经审计)，公司 2025 年半年度实现归属于上市公司股东的净利润为 扣除上年的利润分配金额 26,485,736.21 元，加上以前年度结转的未分配利润 股本 463,773,767 股为基数，向全体股东每 10 股派发现金股利 0.35 元（含 税），不以资本公积金转增股本，不送红股，剩余未分配利润结转至以后年度。 在利润分配的预案披露日至实施权益分派股权登记日期间，公司总股本若发生 变动的，公司将按照"现金分红总额固定不变"的原则，按照最新总股本对分 配比例进行调整。 二、本次利润分配预案的决策程序 公司于 2025 年 8 月 25 日召开第五届董事会第十二次会议及第五届监事会 第十一次会议，会议审议通过了《2025 年半年度利润分配预案》 ...

上市公司2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 | 编制单位：香农芯创科技股份有限公司 | | | | | | | | | | 金额单位：人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占 | 资金占用方名称 | 占用方与上市公司的关联关系 | 上市公司核算的会计科目 | 2025年初占用资 | 2025年半年度占用累计 | 2025年半年度占用资 | 2025年半年度偿 | 2025年半年度末 | 占用形成原因 | 占用性质 | | 用 | | | | 金余额 | 发生金额（不含利息） | 金的利息（如有） | 还累计发生额 | 占用资金余额 | | | | 控股股东、实际 控制人及其附属 | 不适用 | 不适用 | 不适用 | | | | | | | 非经营性占用 | | 企业 | | | | | | | | | | 非经营性占用 | | 小 计 | | | | | | | | | | | | 前控股股东、实 际控制人及其附 | 不适用 | 不适用 | 不适用 | ...

香农芯创科技股份有限公司 2025 年半年度财务报告 香农芯创科技股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 香农芯创科技股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：香农芯创科技股份有限公司 2 2025 年 06 月 30 日 单位：元 项目 期末余额 期初余额 流动资产： 货币资金 887,567,463.90 897,608,697.80 结算备付金 拆出资金 交易性金融资产 156,355,033.61 105,037,566.77 衍生金融资产 应收票据 161,594,160.93 176,966,483.37 应收账款 2,303,311,231.31 1,074,016,372.59 应收款项融资 636,873,189.40 194,557,903.54 预付款项 1,491,920,288.91 777,917,434.92 应收保费 应收分保账款 应收分保合同准备金 其他应收款 39,804,308.33 40,092 ...

智通财经APP讯，香农芯创(300475.SZ)发布2025年半年度报告，该公司营业收入为171.23亿元，同比增 长119.35%。归属于上市公司股东的净利润为1.58亿元，同比增长0.95%。归属于上市公司股东的扣除非 经常性损益的净利润为1.56亿元，同比减少28.76%。基本每股收益为0.34元。 ...