湖南国科微电子股份有限公司 2025 年第三季度报告 证券代码：300672 证券简称：国科微 公告编号：2025-066 湖南国科微电子股份有限公司 2025 年第三季度报告 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.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度财务会计报告是否经过审计 □是 否 1 湖南国科微电子股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | 比上年同期增减 | | | 营业收入（元） | 430,643,438.95 | 22.6 ...

Group 1 - The company's Q3 revenue reached 431 million yuan, representing a year-on-year increase of 22.60% [1] - The company reported a net loss of 12.72 million yuan in Q3, a significant decline of 129.45% compared to the previous year [1] - For the first three quarters, the company's revenue totaled 1.172 billion yuan, showing a year-on-year decrease of 2.50% [1] Group 2 - The net profit for the first three quarters was 7.41 million yuan, reflecting a substantial year-on-year decline of 89.42% [1]

Core Viewpoint - The recent acceleration in China's satellite internet construction is driving significant growth in related stocks, particularly in the satellite ETF sector, with notable increases in stock prices of key companies involved in this industry [2][5][6]. Group 1: Market Performance - The satellite ETF (159206) has risen by 1.89%, with significant gains in constituent stocks such as Aerospace Zhizhuang up over 11% and Guodun Quantum up over 8% [2][3]. - Other stocks showing strong performance include Alliance Electronics, XW Communication, and Guoke Micro, with increases ranging from approximately 5% to 8.5% [3]. Group 2: Industry Developments - China has recently accelerated its satellite internet initiatives, with three successful satellite launches in October, including the sixth batch of the "Thousand Sails Constellation" network [5]. - The successful launch of 12 low-orbit satellites using the Long March 8 rocket and the deployment of 18 satellites in one launch using the Long March 6 rocket highlight advancements in China's satellite capabilities [5]. - The successful launch of the 20th communication technology test satellite marks a significant milestone in satellite communication technology verification [5]. Group 3: Strategic Importance - The recent Fourth Plenary Session emphasized the strategic importance of the aerospace industry, positioning it as a core frontier industry amid international competition [6]. - The recognition of commercial aerospace as a "new growth engine" in the government work report further underscores the industry's elevated status and potential for accelerated development during the 14th Five-Year Plan period [6].

Core Viewpoint - Changsha has rapidly developed into a hub for advanced manufacturing, boasting multiple national and provincial-level industrial clusters, showcasing its competitive strength in the recent provincial industrial cluster competition [1][2][3]. Group 1: Industrial Cluster Development - Changsha has established 6 national-level, 10 provincial-level, and 5 provincial cultivation objects, ranking among the top provincial capitals in terms of total industrial clusters [1]. - In the recent 2025 Hunan Province industrial cluster competition, Changsha achieved a success rate of approximately 70%, with 9 out of 13 participating clusters winning [1][2]. - The city has pioneered the "chain leader system" and is building a gradient system to cultivate national-level industrial clusters, aiming for world-class status [3][19]. Group 2: Mechanisms and Strategies - The "chain leader system" integrates various support mechanisms, including financial, supply, innovation, and talent chains, forming a unique Changsha model for industrial development [8][9]. - Currently, 17 industrial chains account for over 60% of the city's large-scale enterprises, over 70% of industrial output value, and over 80% of provincial and municipal innovation platforms [10]. - The city has implemented a three-tier development system that combines top-level design, collaborative mechanisms, and industrial park support to enhance cluster cultivation [11]. Group 3: Key Industries and Achievements - Changsha is recognized as the "capital of engineering machinery," leading the industry in scale for 15 consecutive years and included as one of the three samples for world-class industrial cluster cultivation by the Ministry of Industry and Information Technology [5][15]. - The new generation of autonomous safety computing systems has emerged as a breakthrough in strategic emerging industries, with a complete local industrial chain [15][17]. - Notable industrial clusters include high-end chemical raw materials in Liuyang and CNC grinding machines in Changsha County, both recognized as national-level small and medium-sized enterprise characteristic industrial clusters [16][17]. Group 4: Future Directions - Changsha aims to transition from national-level to world-class industrial clusters, focusing on high-end, intelligent, and international development [19][20]. - The city is enhancing its innovation capabilities through the establishment of national-level innovation platforms and specialized talent teams [20][21]. - Collaborative efforts are being strengthened to create a "symbiotic and prosperous" industrial ecosystem, with various organizations coordinating to support high-quality industrial development [21][22].

Group 1 - The core viewpoint of the articles highlights a significant surge in the A-share market for storage chip concept stocks, driven by an unprecedented shortage and price increase in the storage chip market, primarily influenced by AI demand [1][2] - Notable stocks include Dawi Co., which reached a daily limit increase of 10.02%, and Shanghai Xinyang, which rose by over 7%, among others experiencing gains of over 6% [1][2] - The price increase cycle for storage chips is reported to be unusually prolonged, with some manufacturers halting price quotes for certain DRAM and Flash production lines [1] Group 2 - The article provides a detailed table of stock performance, indicating that Dawi Co. has a total market value of 6.074 billion and a year-to-date increase of 88.77% [2] - Shanghai Xinyang has a market capitalization of 20.3 billion with a year-to-date increase of 75.03% [2] - Other companies like Lianyun Technology and Jingzhida also show significant year-to-date increases of 60.13% and 142.27%, respectively, reflecting strong market performance [2]

Core Viewpoint - The A-share market for storage chip concept stocks has seen a collective rise, driven by a significant shortage and price increase in the storage chip market, primarily fueled by AI demand [1][2]. Group 1: Market Performance - Major stocks such as Daway Co. (002213) reached a limit up of 10.02%, with a total market value of 6.074 billion [2]. - Shanghai Xinyang (300236) increased by 7.16%, with a market capitalization of 20.3 billion [2]. - Other notable performers include Lianyun Technology (688449) up 6.93% (30.1 billion), Jingzhida (688627) up 6.78% (16.5 billion), and Purang Co. (688766) up 6.60% (22.5 billion) [2]. Group 2: Market Dynamics - The storage chip market is currently experiencing an unprecedented shortage and price surge driven by AI, which began in the first half of the year and is intensifying in the fourth quarter [1][2]. - Industry insiders report that some storage manufacturers have adopted a strategy of pausing quotes for certain DRAM and Flash production lines, indicating a significant shift in market dynamics [1][2].

Core Viewpoint - Guokewi's stock price has shown a significant increase of 36.41% year-to-date, indicating strong market performance despite recent fluctuations in the short term [2]. Company Overview - Guokewi, established on September 24, 2008, and listed on July 12, 2017, is located in Changsha Economic and Technological Development Zone, Hunan Province. The company specializes in the research and sales of chips related to video decoding, video encoding, solid-state storage, and the Internet of Things [2]. - The company's main business revenue is entirely derived from integrated circuits, accounting for 100% of its income [2]. Financial Performance - For the first half of 2025, Guokewi reported operating revenue of 741 million yuan, a year-on-year decrease of 12.86%. The net profit attributable to shareholders was 20.12 million yuan, down 25.02% compared to the previous year [2]. - Since its A-share listing, Guokewi has distributed a total of 371 million yuan in dividends, with 195 million yuan distributed over the past three years [3]. Stock Market Activity - As of October 21, Guokewi's stock price rose by 2.11% to 90.65 yuan per share, with a trading volume of 71.49 million yuan and a turnover rate of 0.38%. The total market capitalization stands at 19.684 billion yuan [1]. - The net inflow of main funds was 1.8773 million yuan, with significant buying activity from large orders amounting to 16.72 million yuan, while selling from large orders reached 12.39 million yuan [1]. Shareholder Information - As of September 10, the number of Guokewi's shareholders was 33,000, a decrease of 2.94% from the previous period. The average number of circulating shares per shareholder increased by 3.03% to 6,373 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder, holding 4.0473 million shares, a decrease of 2.8246 million shares from the previous period. Guolian An Zhongzheng Semiconductor Products and Equipment ETF was the tenth-largest circulating shareholder, with 1.6103 million shares, marking a new entry [3].

Core Viewpoint - The stock of Guokewi has shown a significant increase of 35.77% year-to-date, despite a recent decline in the last five and twenty trading days, indicating potential volatility in its performance [2]. Company Overview - Guokewi, established on September 24, 2008, and listed on July 12, 2017, is located in Changsha Economic and Technological Development Zone, Hunan Province. The company specializes in the research and sales of chips related to video decoding, video encoding, solid-state storage, and the Internet of Things [2]. - The company's main business revenue is entirely derived from integrated circuits, accounting for 100% of its income [2]. Financial Performance - For the first half of 2025, Guokewi reported an operating income of 741 million yuan, representing a year-on-year decrease of 12.86%. The net profit attributable to shareholders was 20.12 million yuan, down 25.02% compared to the previous year [2]. - Since its A-share listing, Guokewi has distributed a total of 371 million yuan in dividends, with 195 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Guokewi had 33,000 shareholders, a decrease of 2.94% from the previous period. The average number of circulating shares per shareholder increased by 3.03% to 6,373 shares [2]. - The fifth-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 4.0473 million shares, which is a reduction of 2.8246 million shares from the previous period. Additionally, Guolian An Zhongzheng Semiconductor Products and Equipment ETF (007300) is a new tenth-largest circulating shareholder with 1.6103 million shares [3]. Market Activity - On October 20, Guokewi's stock price rose by 2.05%, reaching 90.22 yuan per share, with a trading volume of 54.26 million yuan and a turnover rate of 0.29%. The total market capitalization stood at 19.59 billion yuan [1]. - The net inflow of main funds was 5.88 million yuan, with large orders accounting for 15.70% of purchases and 9.13% of sales [1].

Core Viewpoint - Guokewi's stock price has shown significant growth this year, with a 48.63% increase, indicating strong market performance and investor interest [2]. Group 1: Stock Performance - As of October 9, Guokewi's stock price rose by 2.25% to 98.77 CNY per share, with a trading volume of 4.55 billion CNY and a turnover rate of 2.22%, resulting in a total market capitalization of 21.447 billion CNY [1]. - Year-to-date, Guokewi's stock has increased by 48.63%, with a 2.10% rise in the last five trading days, 15.45% in the last 20 days, and 20.73% in the last 60 days [2]. Group 2: Financial Performance - For the first half of 2025, Guokewi reported a revenue of 741 million CNY, a year-on-year decrease of 12.86%, and a net profit attributable to shareholders of 20.1227 million CNY, down 25.02% year-on-year [2]. - Since its A-share listing, Guokewi has distributed a total of 371 million CNY in dividends, with 195 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 10, the number of Guokewi's shareholders was 33,000, a decrease of 2.94% from the previous period, with an average of 6,373 circulating shares per shareholder, an increase of 3.03% [2]. - As of June 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 4.0473 million shares, a decrease of 2.8246 million shares from the previous period [3].

Core Viewpoint - High-tech enterprises play an irreplaceable role in fostering and expanding new productive forces, with over 60% of A-share market comprised of such companies [1]. Group 1: High-tech Enterprises Overview - A total of 130 high-tech companies identified as "technology-leading companies" based on research reports from 62 brokerage firms, focusing on technology strength and secondary market performance [1]. - Among these, several companies are expected to break monopolies or focus on key industries, including Yirui Technology, Lite-On Optoelectronics, and Changyang Technology [1]. Group 2: Shareholder Changes and Profit Forecasts - Out of the 130 companies, 11 have seen a decrease in shareholder numbers compared to the end of Q2, with 4 companies experiencing a decline of over 10% [1]. - Among the companies with concentrated shareholding, only 5 are predicted to have a net profit growth exceeding 10% in 2025 and 2026 [2]. Group 3: Performance Metrics of Leading Companies - Notable companies and their performance include: - Shengyi Technology: 131.34% increase, leading in high-end products [3]. - Rilian Technology: 105.74% increase, benefiting from domestic substitution and structural growth [3]. - Jizhi Technology: 82.65% increase, breaking foreign monopolies in high-end fields [3]. - Yirui Technology: 70.95% increase, a one-stop supplier for X-ray imaging equipment [3]. - Changyang Technology: 58.23% increase, leading in domestic CPI film and global reflective film [3]. - Guokai Micro: 45.29% increase, aiming to break overseas filter monopolies [3]. - Dike Digital: 22.03% increase, set to become Huawei's top partner in the government sector [3]. - United Imaging Healthcare: 20.09% increase, breaking the medical imaging monopoly [3]. - Caite Optoelectronics: 10.18% increase, leading in domestic OLED materials [3]. - Zhongke Technology: 6.87% increase, breaking foreign monopolies in core equipment [3]. Group 4: Shareholder Metrics and Profit Growth - Companies with significant shareholder changes and their performance include: - Yisuo Technology: 12.15% decrease in shareholder numbers, 189.44% increase in stock price [6]. - Dike Digital: 11.78% decrease, 22.03% increase in stock price [6]. - Beida Pharmaceutical: 9.04% decrease, 24.29% increase in stock price [6]. - Northern Navigation: 5.15% decrease, 53.13% increase in stock price [6]. - Langxin Group: 40.28% increase in shareholder numbers, 61.89% increase in stock price [6].