2022年4月11日，公司全资子公司江阴圣邦微电子与江阴市自然资源和规划局签署完成《国有建设用地 使用权出让合同》。2022年6月28日，公司全资子公司江阴圣邦微电子完成土地使用权的权属登记手 续，并取得了江阴市自然资源和规划局颁发的《中华人民共和国不动产权证书》。 格隆汇4月8日丨圣邦股份(300661.SZ)发布全资子公司集成电路设计及测试项目的进展公告。圣邦微电 子(北京)股份有限公司(以下简称"公司"、"圣邦微电子")于2021年10月20日召开第四届董事会第二次会议 及第四届监事会第二次会议审议通过了《关于公司拟签署<投资协议>暨对外投资设立子公司的议 案》，公司拟与江阴高新技术产业开发区管理委员会签署《投资协议》，并在江阴高新技术产业开发区 内投资设立全资子公司作为项目实施主体，建设集成电路设计及测试项目，该项目总投资金额约人民币 3亿元。 近期，圣邦微电子江阴研发生产基地(以下简称"基地")落成，并已具备投产条件。 2021年10月27日，公司全资子公司江阴圣邦微电子制造有限公司(以下简称"江阴圣邦微电子")完成工商 设立登记手续并取得了江阴市行政审批局核发的《营业执照》。 基地总投资约3亿元， ...

2021 年 10 月 27 日，公司全资子公司江阴圣邦微电子制造有限公司（以下 简称"江阴圣邦微电子"）完成工商设立登记手续并取得了江阴市行政审批局核 发的《营业执照》，具体内容详见公司于同日在巨潮资讯网上披露的相关公告。 证券代码：300661 证券简称：圣邦股份 公告编号：2025-003 圣邦微电子（北京）股份有限公司 关于全资子公司集成电路设计及测试项目的进展公告 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、对外投资概述 圣邦微电子（北京）股份有限公司（以下简称"公司"、"圣邦微电子"） 于 2021 年 10 月 20 日召开第四届董事会第二次会议及第四届监事会第二次会议 审议通过了《关于公司拟签署<投资协议>暨对外投资设立子公司的议案》，公 司拟与江阴高新技术产业开发区管理委员会签署《投资协议》，并在江阴高新技 术产业开发区内投资设立全资子公司作为项目实施主体，建设集成电路设计及测 试项目，该项目总投资金额约人民币 3 亿元。具体内容详见公司于同日在巨潮资 讯网(http://www.cninfo.com.cn/new/index)上披露 ...

证券代码：300661 证券简称：圣邦股份 公告编号：2025-002 圣邦微电子（北京）股份有限公司 关于2021年限制性股票激励计划预留授予部分 第二个归属期归属结果暨股份上市的公告 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。 重要内容提示： 1、本次归属激励对象人数：8 人 2、本次归属股票数量：5,593股，占本次归属前公司总股本比例约为0.0012%。 3、本次归属股票上市流通时间：2025 年 4 月 8 日。 4、股票来源：公司向激励对象定向发行公司 A 股普通股股票。 圣邦微电子（北京）股份有限公司（以下简称"公司"）于 2024 年 10 月 11 日召开了第五届董事会第二次会议和第五届监事会第二次会议，审议通过了 《关于 2021 年限制性股票激励计划预留授予部分第二个归属期归属条件成就的 议案》。近日，公司已在中国证券登记结算有限责任公司深圳分公司办理完成本 次股份归属及上市的相关手续。现将相关事项公告如下： 一、激励计划简述 （一） 标的股票来源 本激励计划采取的激励工具为第二类限制性股票，涉及的标的股票来源为公 司向激励对象定向发 ...

光大证券指出，指数四月或将整固蓄势。3月份市场波动率有所下行，市场赚钱效应有所减弱，科技板 块也面临一定程度的调整压力。从历史情况来看，4月份市场通常会进入整固阶段，考虑到财报披露、 分析师盈利预期调整以及外部风险的扰动，今年4月市场或将再度整固蓄势。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） （文章来源：21世纪经济报道） A500指数ETF（159351）还配备了场外联接基金（A类022453；C类022454）。 东莞证券指出，考虑到市场即将进入公司财报的密集披露期，部分企业业绩不及预期可能导致股价快速 波动，叠加海外政策对我国经济仍旧存在一些扰动，短期市场或仍以区间震荡为主。但长期来看，国内 经济韧性足、发展前景好的局面仍旧，未来随着上市公司财务信息的逐渐披露，市场有望在基本面不确 定性缓解之后重新企稳走强。 4月3日，A股三大指数集体低开。主流宽基ETF中，截至发稿，A500指数ETF（159351）跌0.21%，成 交总额达3.2亿元，换手率1.97%，盘中交投活跃。成分股中，圣邦股份、华海清科涨超4%，四川路 桥、赤峰黄金、航天电器涨超3 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company is a leading domestic player in the analog chip sector, with a comprehensive product range driving growth [7] - The company has shown steady growth in operating performance, with a revenue CAGR of 30.42% from 2017 to 2023, despite facing challenges in 2023 due to industry downturns [7][23] - The domestic analog chip market has significant room for domestic substitution, particularly driven by AI terminals and automotive electronics [7][41] - The company is expected to benefit from industry recovery in the short term and product expansion in the long term, with projected earnings per share of 1.00, 1.48, and 2.26 yuan for 2024-2026 [7] Summary by Sections 1. Domestic High-End Analog Chip Leader - The company focuses on the research, design, production, and sales of analog chips, covering signal chain and power management sectors [16] - The product line includes over 5,200 models across 32 categories, with applications in various fields such as consumer electronics, industrial control, IoT, AI, and automotive electronics [16][23] - The company operates on a fabless model, outsourcing production to specialized manufacturers, primarily TSMC [17] 2. Steady Growth in Operating Performance - Revenue increased from 532 million yuan in 2017 to 2.616 billion yuan in 2023, with a net profit growth from 94 million yuan to 281 million yuan during the same period [23] - In 2023, the company faced a revenue decline of 17.94% and a net profit decline of 67.86% due to weak demand in consumer electronics and industrial control sectors [23][24] - The company anticipates a rebound in net profit for 2024, projecting a range of 449 million to 533 million yuan, representing a growth of 60% to 90% year-on-year [24] 3. Market Expansion and Domestic Substitution - The global analog chip market was valued at over 80 billion USD in 2023, with significant market share held by foreign companies, indicating a broad space for domestic substitution [7][41] - The automotive electronics sector is expected to drive demand for analog chips, with electric vehicles requiring significantly more chips than traditional vehicles [55][64] - The company has been actively expanding its product offerings and customer base through internal R&D and external acquisitions, positioning itself to lead in the domestic substitution process [7][41] 4. Investment Recommendations - The company is positioned as a leader in the domestic analog chip market, with a comprehensive product range and a strong focus on R&D and acquisitions [7] - Short-term outlook is positive due to industry recovery, while long-term growth is supported by product expansion and structural improvements [7] - The projected earnings for 2024-2026 suggest a favorable valuation, maintaining the "Buy" rating [7]

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 93.85 CNY, corresponding to a PE ratio of 91/63/44 for the years 2024-2026 [6][3]. Core Insights - Shengbang Co., Ltd. is a leading domestic analog IC company focusing on "power management + signal chain" products, with a product portfolio of over 5,200 items across 32 categories as of the end of 2023 [1][3]. - The company has shown strong revenue growth with a CAGR of 43.08% and a net profit CAGR of 56.23% from 2017 to 2022, although it faced a decline in 2023 due to industry cycle downturns. However, it is expected to recover in 2024 with a projected revenue growth of 29.96% and a net profit growth of 100.57% in the first three quarters [1][3][18]. - The analog chip industry is characterized by a long lifecycle and diverse product categories, which contribute to its relatively stable growth and lower cyclicality. The domestic market for analog chips is still in its early stages of development, with a self-sufficiency rate of less than 14% in 2023, indicating significant growth potential [2][3]. Summary by Sections Company Overview - Shengbang Co., Ltd. was established in 2007 and specializes in the design, research, and sales of analog chips, with applications in consumer electronics, communication devices, industrial control, and automotive electronics. The company has expanded its product lines significantly, focusing on both power management and signal chain products [11][13]. Industry Outlook - The analog chip industry is expected to see a bottoming out of the cycle, with recovery anticipated as downstream demand gradually improves. The report highlights that the leading company in the industry, Texas Instruments (TI), has shown signs of recovery in its gross margin, indicating a positive trend for the industry as a whole [2][3]. Financial Forecast - The financial projections for Shengbang Co., Ltd. indicate a revenue of 3,298 million CNY in 2024, with a growth rate of 26.1%, and a net profit of 486 million CNY, reflecting a growth rate of 73.1%. By 2026, the revenue is expected to reach 4,930 million CNY, with a net profit of 1,010 million CNY [5][3]. Product Lines - The company’s primary revenue source is its power management ICs, which accounted for 66.8% of total revenue in 2023. The report notes that the power management segment is expected to benefit from the growing demand in consumer electronics and the ongoing shift towards domestic alternatives [39][46]. Competitive Advantages - Shengbang Co., Ltd. has a strong R&D team with significant industry experience, which has led to a robust portfolio of patented technologies and products. The company has been actively involved in mergers and acquisitions to expand its product offerings and market reach [3][29][36].

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 93.85 CNY [6]. Core Views - The company is a leading player in the domestic analog IC market, focusing on both power management and signal chain products. It has expanded its product offerings significantly, with over 5,200 SKUs across 32 categories as of the end of 2023 [1][11]. - The company has shown strong revenue and net profit growth from 2017 to 2022, with a CAGR of 43.08% and 56.23% respectively. Despite a downturn in 2023 due to industry cycles, a recovery is expected in 2024 driven by new product launches and market demand [1][2]. - The company has a strong technical team with significant industry experience, including talent from major international firms like Texas Instruments [1][3]. Summary by Sections 1. Company Overview - The company was established in 2007 and specializes in the design, research, and sales of analog chips, with applications in consumer electronics, communication devices, industrial control, and automotive electronics [11]. - The product lines include operational amplifiers and LDOs, with a focus on expanding into more complex power management solutions like DCDC converters [11][39]. 2. Industry Outlook - The analog chip industry is characterized by a long lifecycle and diverse product categories, leading to stable growth despite cyclical downturns. The domestic market is expected to continue growing, with a self-sufficiency rate of less than 14% in 2023, indicating significant room for growth [2][3]. - The report highlights that the industry is nearing a recovery phase, with signs of demand returning and inventory levels stabilizing [2]. 3. Financial Performance - The company experienced a revenue decline in 2023, with total revenue of 2,616 million CNY, down 17.9% year-on-year. However, projections for 2024 show a recovery with expected revenue growth of 26.1% [5]. - The net profit for 2023 was 281 million CNY, a significant drop of 67.9%, but is projected to rebound to 486 million CNY in 2024, reflecting a growth rate of 73.1% [5]. 4. Product Lines - The power management ICs are the primary revenue source, accounting for 66.8% of total revenue in 2023, despite a 12.3% decline in sales [46]. - The signal chain products, while representing a smaller portion of revenue, have higher profit margins and are growing rapidly [24][39]. 5. Competitive Advantages - The company has a robust R&D capability, with a focus on innovation and a strong patent portfolio, having accumulated 229 authorized patents by 2023 [31][36]. - The management team is experienced, with a background in leading semiconductor firms, which enhances the company's competitive edge in technology and market strategy [29][30].

Investment Rating - The investment rating for the company is "Accumulate (Maintain)" [5] Core Views - The company is expected to achieve significant profit growth in 2024, with a projected net profit of 449 to 533 million yuan, representing a year-on-year increase of 60% to 90% [1][10] - The fourth quarter of 2024 is anticipated to see a substantial increase in profit, potentially reaching a new high since Q4 2022, with a net profit forecast of 164 to 249 million yuan, indicating a year-on-year growth of 18.46% to 79.17% and a quarter-on-quarter growth of 54.66% to 133.93% [2][10] - The company is benefiting from the acceleration of domestic high-end analog chip localization, as the Chinese government has initiated anti-subsidy investigations against U.S. imports, which is expected to enhance the competitive landscape for domestic manufacturers [3][10] - The company has developed over 5,200 products across 32 categories, with performance metrics that match or exceed those of leading global analog manufacturers [4][10] Financial Data and Valuation - The projected revenue for 2024 is 3.259 billion yuan, with a year-on-year growth rate of 24.6%, and net profit is expected to be 502 million yuan, reflecting a growth of 78.7% [9][10] - The company’s gross margin is projected to improve from 49.6% in 2023 to 52.5% in 2024, and the net profit margin is expected to rise from 10.7% to 15.4% [9][10] - The price-to-earnings (P/E) ratio is forecasted to decrease from 83.3 in 2024 to 39.8 by 2026, indicating an improving valuation as earnings grow [9][10]

Financial Projections - The estimated net profit attributable to shareholders for 2024 is projected to be between 449.23 million and 533.46 million CNY, representing a year-on-year growth of 60.00% to 90.00%[4] - The estimated net profit after deducting non-recurring gains and losses is projected to be between 388.23 million and 472.46 million CNY, indicating a year-on-year growth of 83.32% to 123.10%[4] Reasons for Profit Increase - The main reasons for the profit increase include business expansion, product structure improvement, application field expansion, and increased product sales, leading to a corresponding revenue growth[6] - The estimated impact of non-recurring gains and losses on the company's net profit is approximately 61 million CNY[6] Performance Forecast - The performance forecast is based on preliminary calculations by the company's finance department and has not been audited by the accounting firm[8]

消息面上，商务部新闻发言人16日表示，国内有关芯片产业反映自美进口成熟制程芯片低价冲击国内市 场，调查机关将依法启动调查。 财联社1月17日电，清溢光电午后触及20CM涨停，中芯国际涨超7%。 此前瑞芯微、康强电子涨停，圣邦股份、纳芯微、乐鑫科技、赛微微电涨超10%。 ...