Core Viewpoint - The company is currently facing performance pressure due to increased fixed asset depreciation from significant capital expenditures during production line construction, high costs during the ramp-up phase of new production lines, and intensified market competition [2] Group 1: Financial Performance - Short-term performance is impacted by multiple factors including high capital expenditures and increased competition [2] - The company is focused on sustainable development and aims to enhance its intrinsic strategic value to provide returns to investors [2] Group 2: Long-term Strategy - The company's long-term strategy is centered around the Chip Industry Project, which is considered a cornerstone for sustainable operations and future growth [2] - Plans to accelerate the establishment of resource platforms and invest in new cutting-edge technologies are in place to overcome technical barriers and align with leading international companies [2] Group 3: Future Outlook - Positive indicators such as the launch of new products and a reduction in high costs due to low output are expected to gradually improve performance [2]

Group 1 - The company, ZTE Microelectronics, considers Samsung a long-term and stable important partner, maintaining a good strategic cooperation relationship across multiple product categories [2][5] - The ongoing patent dispute with Murata only involves a few specific models of filter products, which represent a low proportion of the company's main business revenue [2][5] - Currently, the patent dispute has not significantly impacted the company's overall production, operations, or sustainability, and the company will continue to follow up on the relevant developments in accordance with laws and regulations [2][5]

Core Points - The mainland consumer electronics index (983105) closed at 4679.66 points, down 0.04%, with a trading volume of 75.462 billion yuan and a turnover rate of 1.56% [1] - Among the index constituents, 20 stocks rose while 29 fell, with AAC Technologies leading the gainers at 3.95% and Meitu leading the decliners at 6.0% [1] Index Constituents Summary - The top ten constituents of the mainland consumer electronics index are as follows: - Luxshare Precision (sz002475) holds a weight of 12.51%, latest price at 60.00 yuan, with a market cap of 436.926 billion yuan and a rise of 2.37% [1] - SMIC (hk00981) has a weight of 12.37%, latest price at 62.39 yuan, with a market cap of 499.131 billion yuan and a decline of 1.15% [1] - Other notable constituents include BOE Technology (sz000725) with a weight of 5.67% and a market cap of 145.166 billion yuan, and Xiaomi (hk01810) with a weight of 5.56% and a market cap of 963.341 billion yuan [1] Capital Flow Analysis - The net inflow of main funds into the index constituents totaled 775 million yuan, while retail funds saw a net outflow of 347 million yuan [3] - Key stocks with significant fund flows include: - Luxshare Precision with a net inflow of 604 million yuan, accounting for 5.53% of the main funds [3] - Other stocks like GoerTek (sz002241) and Shenghong Technology (300476) also experienced notable fund movements [3]

Group 1 - The core point of the article is that Zhaosheng Microelectronics (卓胜微) has changed the status of its application for a specific stock issuance to "submitted for registration" [2] - The company plans to issue up to 160 million shares [2] - The expected funds to be raised from this issuance amount to 3.475 billion yuan [2] - The underwriting institution for this issuance is China International Capital Corporation (CICC) [2]

Core Viewpoint - The stock of Zhaosheng Microelectronics has shown fluctuations, with a recent increase of 2.02% and a total market capitalization of 37.772 billion yuan, despite a year-to-date decline of 21.19% [1] Financial Performance - For the period from January to September 2025, Zhaosheng Microelectronics reported a revenue of 2.769 billion yuan, representing a year-on-year decrease of 17.77%. The net profit attributable to shareholders was -171 million yuan, a significant decline of 140.13% year-on-year [2] Shareholder Information - As of November 20, 2025, the number of shareholders for Zhaosheng Microelectronics was 75,600, a slight decrease of 0.19% from the previous period. The average number of circulating shares per person increased by 0.19% to 5,928 shares [2] Dividend Distribution - Since its A-share listing, Zhaosheng Microelectronics has distributed a total of 884 million yuan in dividends, with 265 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, the fourth largest circulating shareholder was Hong Kong Central Clearing Limited, holding 10.0688 million shares, an increase of 958,600 shares from the previous period. The ninth largest shareholder, E Fund's ChiNext ETF, held 7.3024 million shares, a decrease of 1.2461 million shares [3]

Core Viewpoint - The company has successfully delivered radio frequency front-end products for satellite communication applications, including mobile terminals, and has made a small number of deliveries that meet NTN standards [1] Group 1 - The company is actively investing in and laying out new frontier technologies and application areas [1] - The company is expanding its business in line with its development plan, leveraging its technological reserves [1]

Core Viewpoint - The leading company in the RF front-end sector, Zhaosheng Microelectronics (卓胜微), is facing a patent infringement lawsuit initiated by Murata Manufacturing Co., Ltd. in Germany, with the lawsuit amounting to approximately 8.2 million RMB (1 million euros) [1] Group 1: Legal Actions and Responses - Zhaosheng Microelectronics has quickly initiated a response system to the lawsuit, forming a specialized team of domestic and international experts to contest Murata's claims [1] - In July 2024, Zhaosheng Microelectronics proactively filed a request for invalidation of Murata's "elastic wave device patent" with the National Intellectual Property Administration, which was declared invalid in January 2025 [1][2] - The invalidation of the patent is seen as a significant breakthrough for domestic companies in international patent disputes, reinforcing Zhaosheng's competitive advantage in the SAW filter sector [1] Group 2: Patent Validity and Strategic Positioning - In April 2025, Murata launched multiple patent infringement lawsuits in China and South Korea, but Zhaosheng Microelectronics clarified that the patents in question lack essential innovation and are based on previously invalidated patents [2] - Zhaosheng Microelectronics has been building a systematic layout for risk resistance since several years ago, transitioning from a Fabless model to a Fab-Lite model in 2019 to reduce reliance on overseas foundries [2] Group 3: Research and Development Investments - In 2024, Zhaosheng Microelectronics invested 999.7 million RMB in R&D, accounting for 22.22% of its revenue, with an average annual growth rate of 49% in R&D investment over the past three years [3] - As of June 2025, the company has obtained a total of 156 patents, establishing a robust patent protection network that aligns with its technological development [3] - The company has achieved large-scale production of its self-built 6-inch filter production line, with its core product MAX-SAW reaching international mainstream performance levels [3]

Core Viewpoint - The company, ZTE Microelectronics, is facing patent infringement lawsuits filed by Murata Manufacturing Co., Ltd. in Germany and South Korea, with a total claimed amount of approximately 9.208 million RMB [3][4]. Group 1: Lawsuit Details - The lawsuits involve ZTE Microelectronics and its wholly-owned subsidiary, Maxscend Technologies (HK) Limited, with the German case initiated on November 20, 2023, and the case number 7O14074/25 [3][4]. - Murata claims that its European patent EP3007358B1 is valid and that the defendants have infringed upon it, making four specific requests including a cessation of the infringing activities and compensation for damages [4]. - In addition to the German lawsuit, Murata has filed two related lawsuits in South Korea, with one case already in court and the other yet to be heard, involving a total claimed amount of approximately 1.008 million RMB [4]. Group 2: Company Response - ZTE Microelectronics has stated that it does not recognize the claims made by Murata and will actively defend its rights, emphasizing that the disputed patent only pertains to a specific model of filter product, which constitutes a small portion of its revenue [5]. - The company has invested significantly in research and development, with R&D expenditures as a percentage of revenue projected to increase from 12.22% in 2022 to 22.22% in 2024, and has filed numerous patents related to filters [5]. - ZTE Microelectronics has raised questions regarding the validity of the patents in question, citing that the technologies are based on known industry structures and that several related patents have been declared invalid [5][6].

Core Viewpoint - The company and its wholly-owned subsidiary, Maxscend Technologies (HK) Limited, are involved in a lawsuit with the plaintiff claiming damages estimated at 1 million euros (approximately 8.2 million RMB) [1] Group 1 - The company asserts that all its products are independently developed and does not recognize the claims made by the plaintiff [1] - The company plans to actively respond to the lawsuit [1] - The impact of this lawsuit on the company's current profits is considered minimal, with the final effect to be determined by the court's ruling [1]

证券代码：300782 证券简称：卓胜微 公告编号：2025-086 2.公司所处的当事人地位：江苏卓胜微电子股份有限公司（以下简称"公司"） 为被告一，公司全资子公司 Maxscend Technologies（HK）Limited 为被告二。 3.涉案的金额：原告主张的诉讼标的额暂估算为 100 万欧元（约合人民币 820 万元）。 4.对上市公司损益产生的影响：公司产品均为自主研发，公司对原告主张不予认 可，并将积极应诉。公司产品系列及产品型号众多，本次专利诉讼仅涉及一款具体 型号的滤波器产品，其占公司主营业务收入比例较低。本次诉讼事项对公司本期利 润的影响较小，最终实际影响以法院判决为准。 一、涉及诉讼的基本情况 公司于 2025 年 11 月 20 日收到德国慕尼黑第一地方法院送达的《起诉状》等诉 讼相关的完整材料。诉讼材料反映的基本情况如下（以下内容参考德国慕尼黑第一 地方法院《起诉状》）： 案号：7 O 14074/25 江苏卓胜微电子股份有限公司 关于公司及子公司涉及诉讼的公告 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 ...