沪指12月15日下跌0.55%，申万所属行业中，今日上涨的有13个，涨幅居前的行业为非银金融、商贸零 售，涨幅分别为1.59%、1.49%。跌幅居前的行业为电子、通信，跌幅分别为2.42%、1.89%。通信行业 位居今日跌幅榜第二。 资金面上看，两市主力资金全天净流出471.84亿元，今日有8个行业主力资金净流入，国防军工行业主 力资金净流入规模居首，该行业今日上涨0.83%，全天净流入资金22.87亿元，其次是食品饮料行业，日 涨幅为0.67%，净流入资金为11.24亿元。 主力资金净流出的行业有23个，电子行业主力资金净流出规模居首，全天净流出资金163.31亿元，其次 是电力设备行业，净流出资金为59.19亿元，净流出资金较多的还有有色金属、机械设备、通信等行 业。 通信行业今日下跌1.89%，全天主力资金净流出44.95亿元，该行业所属的个股共124只，今日上涨的有 27只，涨停的有2只；下跌的有95只，跌停的有2只。以资金流向数据进行统计，该行业资金净流入的个 股有31只，其中，净流入资金超亿元的有5只，净流入资金居首的是三维通信，今日净流入资金7.70亿 元，紧随其后的是通宇通讯、联特科技，净流入 ...

Core Viewpoint - Changfei Fiber (601869) announced a partnership with several companies to invest in the Shanghai M&A Private Equity Fund Phase III, focusing on high-end manufacturing and other key industries supported by national policies [1] Group 1: Investment Details - Changfei Capital plans to invest 60 million yuan, accounting for 7.23% of the total 830 million yuan commitment to the Shanghai M&A Fund Phase III [1] - Changxin Bochuang intends to invest 40 million yuan, representing 4.82% of the total fund [1] Group 2: Fund Focus - The Shanghai M&A Fund Phase III will primarily target mergers and acquisitions in high-end manufacturing, integrated circuits, new materials, new energy, and information technology sectors [1]

Investment Rating - The report maintains a "Buy" rating for key companies in the optical communication sector, including Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication [5][10]. Core Insights - The optical isolator is a critical passive device in optical communication systems, relying on the combination of polarizers and Faraday plates. There is a significant technological dependency and supply gap in the upstream manufacturing of these core components, particularly in high-end Faraday magnetic optical materials, which has become a bottleneck for industry development [1][19]. - The report highlights the low domestic production rate of core materials for polarizers, which are monopolized by Japanese and Korean suppliers, indicating a need for increased localization [3][21]. - The global shortage of Faraday plates is a critical issue, as their complex material growth and precision processing are dominated by a few companies in the US and Japan, leading to supply constraints that hinder the expansion of isolators and high-speed optical modules [4][22][23]. Summary by Sections Investment Strategy - The report suggests focusing on the upstream gaps in isolators, particularly polarizers and Faraday plates, and recommends companies like Zhongji Xuchuang, Xinyi Sheng, and Tianfu Communication for investment [8][24]. Market Review - The communication sector has seen an increase, with optical communication performing particularly well, as indicated by various indices showing significant growth [15][18]. Supply Chain Dynamics - In 2024, China's production capacity for polarizers is expected to account for approximately 73% of the global market, yet the localization rate of core materials remains below 10%, posing challenges to supply chain stability [6][7][24]. Key Companies to Watch - The report identifies several key companies to monitor within the optical communication and related sectors, including Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and others involved in the supply chain [8][9][24].

Core Viewpoint - Changxin Bochuang (300548.SZ) has approved a proposal to participate in the establishment of a merger fund, focusing on investment opportunities in high-end manufacturing, integrated circuits, new materials, new energy, and information technology sectors supported by national policies [1] Group 1 - The company will act as a limited partner in the Shanghai Merger Fund Phase III, collaborating with several other entities including Haitong M&A Capital and others [1] - The total committed capital for the Shanghai Merger Fund Phase III is set at 830 million RMB, with the company contributing 40 million RMB, representing 4.82% of the total [1] - The board and supervisory meetings held on December 12, 2025, approved this investment initiative [1]

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，并且没有虚假记载、 误导性陈述或重大遗漏。 证券代码：300548 证券简称：长芯博创 公告编号：2025-088 长芯博创科技股份有限公司 关于召开 2025 年第四次临时股东会的通知 一、召开会议的基本情况 1、股东会届次：2025 年第四次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所创业板股票 上市规则》《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公司规范运作》等 法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 12 月 29 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 29 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具 体时间为 2025 年 12 月 29 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：20 ...

长芯博创科技股份有限公司 证券代码：300548 证券简称：长芯博创 公告编号：2025-084 本议案尚需提交公司股东会审议。 2、审议通过《关于参与设立并购基金暨关联交易的议案》 第六届监事会第二十一次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，并且没有 虚假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 长芯博创科技股份有限公司（以下简称"公司"）第六届监事会第二十一次会 议通知于 2025 年 12 月 9 日以电子邮件形式发出，会议于 2025 年 12 月 12 日以 通讯方式召开。公司本次监事会应出席监事 3 人，实际出席监事 3 人。会议由监 事会主席 Jinpei Yang（杨锦培）先生主持。本次会议的召集、召开和表决程序符 合法律、法规及公司章程的有关规定，表决所形成的决议合法、有效。 二、监事会会议审议情况 1、审议通过《关于 2026 年度日常关联交易预计额度的议案》 表决结果：同意 2 票，反对 0 票，弃权 0 票（关联监事 Jinpei Yang（杨锦培） 回避表决） 经审议，监事会认为，公司预计的 2026 年度日常关联交易符合日常经营需 要及 ...

证券代码：300548 证券简称：长芯博创 公告编号：2025-083 长芯博创科技股份有限公司 第六届董事会第二十三次会议决议公告 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，并且没有 虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 长芯博创科技股份有限公司（以下简称"公司"）第六届董事会第二十三次会 议通知于 2025 年 12 月 9 日以电子邮件形式发出，会议于 2025 年 12 月 12 日以 通讯方式召开。公司本次董事会应出席董事 9 人，实际出席董事 9 人，监事会成 员及公司高级管理人员列席了会议。会议由董事长庄丹先生主持。本次会议的召 集、召开和表决程序符合法律、法规及公司章程的有关规定，表决所形成的决议 合法、有效。 二、董事会会议审议情况 1、审议通过《关于修订公司章程议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理 准则》及《深圳证券交易所创业板股票上市规则》等相关法律法规、规范性文件 的要求，结合公司实际情况，公司拟不再设置监事会，由公司董事会审计委员会 行使监事会职权，并对公司章 ...

Core Viewpoint - The company plans to participate in the establishment of the Shanghai M&A Private Equity Fund Phase III, contributing 40 million yuan as a limited partner in a total fund size of 830 million yuan, focusing on investment opportunities in high-end manufacturing and other key industries supported by national policies [1][1][1] Group 1 - The total committed capital for the Shanghai M&A Fund Phase III is 830 million yuan [1] - The company will invest 40 million yuan of its own funds as a limited partner [1] - The fund will primarily target mergers and acquisitions in high-end manufacturing, integrated circuits, new materials, new energy, and information technology sectors [1][1][1] Group 2 - The investment in the M&A fund aims to leverage the resources and advantages of professional investment institutions in the equity investment field [1] - The initiative is intended to broaden the company's investment channels [1] - The company seeks to consolidate and enhance its market position through this investment [1]

Group 1 - The company Changxin Bochuang (SZ 300548) held its 13th meeting of the 6th board of directors on December 12, 2025, via communication methods, where it reviewed the proposal to amend the company's articles of association [1] - For the year 2024, the company's revenue composition is entirely from the communication and related equipment manufacturing industry, accounting for 100.0% [1] - As of the report date, Changxin Bochuang has a market capitalization of 43.2 billion yuan [1]

国泰海通证券股份有限公司 关于长芯博创科技股份有限公司 2026年度日常关联交易预计额度的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）作为长芯 博创科技股份有限公司（以下简称"长芯博创"或"公司"）向特定对象发行股票持 续督导机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所上市公 司自律监管指引第13号——保荐业务》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第7号——交易与关联交易》等有关规 定，对长芯博创2026年度日常关联交易预计额度进行了核查，具体情况如下： 一、日常关联交易基本情况 1、日常关联交易概述 2025 年 12 月 12 日，公司召开了第六届董事会第二十三次会议和第六届监 事会第二十一次会议，审议通过了《关于 2026 年度日常关联交易预计额度的议 案》，关联董事庄丹、Peter Johannes Wijnandus Marie Bongaerts （扬帮卡）、周 理晶、郑昕、罗杰、关联监事 Jinpei Yang（杨锦培）回避表决。本次关联交易在 提交董事会审议前已经公司独立董事专门会议审议通过。按照《深圳证券交易所 ...