Core Viewpoint - The company is actively promoting the marketization of domestically produced L-PAMiD modules, achieving significant performance improvements in various application scenarios, including successful mass production and delivery for the Honor Power2 model [1] Group 1: Company Advantages - The company's advantage lies in the integrated design, production line, packaging, and testing, which accelerates the design and product validation process, leading to product iteration advantages [1] - The company utilizes its self-controlled chip resource platform to ensure strict control over process development, product quality, and reliability, enabling rapid technological iteration and adjustment of new product development cycles to meet changing market demands [1] Group 2: Market Context - The high-end market and high-integration RF front-end module sector are primarily dominated by large multinational companies from the United States and Japan, which hold significant market shares due to their deep technical accumulation and comprehensive product layouts [1] - The company has successfully achieved scale production and delivery of various L-PAMiD products to multiple brand clients, indicating a competitive position in the market [1]

投资者提问： 尊敬的投资者，您好！公司一贯坚持自主可控的战略路线，前瞻性地建设基于芯卓的工艺技术和资源平 台，在当前地缘政治环境和贸易冲突不可控的背景下，资源平台的抗风险能力正在逐步释放，供应链的 安全与稳定性凸显，同时具备更好的成本优势和性能优势。 随着自主可控的战略意义越发显现，公司 已做好应对各项挑战的能力储备，并将持续深耕高效资源平台业务模式，在芯卓资源平台的战略支撑下 积极构建高端的差异化能力以把握并拓展出更多向其他应用领域和产品国产替代的机遇。感谢您对公司 的关注！查看更多董秘问答>> 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 据了解，目前成熟半导体行业也出现了产能紧张的局面，请问对于卓胜微这样拥有自己的晶圆厂的芯片 公司，在增加产能和成本控制方面更加有优势？ 董秘回答(卓胜微SZ300782)： ...

Core Viewpoint - The company is actively engaged in the development of 6G communication technology, focusing on research, product development, and market needs [1] Group 1: 6G Technology Development - The company places high importance on the advancement of 6G communication technology and has initiated relevant technical research and layout work [1] - The company has started the development of corresponding processes and products based on customer and market demands [1] - The company will continue to track the evolution of 6G technology and the standard-setting process to seize industry development opportunities [1] Group 2: Product and Market Strategy - The company's RF front-end products have been shipped for applications in satellite communication, such as smart terminals [1] - The company plans to accelerate the construction of resource platforms, focusing on new cutting-edge technology investments and breaking through technical barriers [1] - The company aims to leverage platform advantages to actively expand the market space and opportunities for high-end product series [1]

Core Viewpoint - The financial performance of Zhaosheng Microelectronics shows a significant decline in revenue and profit, indicating potential challenges ahead for the company [2]. Group 1: Financial Performance - As of January 20, Zhaosheng Microelectronics reported a revenue of 2.769 billion yuan for the period from January to September 2025, representing a year-on-year decrease of 17.77% [2]. - The company recorded a net profit attributable to shareholders of -171 million yuan, reflecting a year-on-year decrease of 140.13% [2]. - Cumulative cash dividends since the company's A-share listing amount to 884 million yuan, with 265 million yuan distributed over the past three years [2]. Group 2: Shareholder and Market Activity - As of February 2, Zhaosheng Microelectronics experienced a trading volume of 813 million yuan, with a net financing purchase of 8.9624 million yuan [1]. - The total balance of margin trading and securities lending for Zhaosheng Microelectronics reached 1.698 billion yuan, with a financing balance of 1.696 billion yuan, accounting for 4.26% of the circulating market value [1]. - The number of shareholders decreased to 73,500, a reduction of 6.47%, while the average circulating shares per person increased by 6.92% to 6,099 shares [2]. Group 3: Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 10.0688 million shares, an increase of 958,600 shares from the previous period [2]. - The ninth largest circulating shareholder, E Fund ChiNext ETF, held 7.3024 million shares, a decrease of 1.2461 million shares compared to the previous period [2]. - The tenth largest circulating shareholder, Huatai-PB CSI 300 ETF, held 6.3345 million shares, down by 297,300 shares from the previous period [2].

Core Viewpoint - The patent lawsuit initiated by Murata Manufacturing against Maxscend Microelectronics in 2025 is not a typical infringement dispute but a significant structural conflict in the Thin-Film Surface Acoustic Wave (TF-SAW) technology field, spanning across China, South Korea, and Germany, reflecting Murata's long-standing global IP enforcement strategy targeting a rapidly growing Chinese RF front-end manufacturer [1][2]. Group 1: Patent Overview - Murata claims eight patents against Maxscend in China, South Korea, and Europe, showcasing a systematic distribution across various technical abstraction levels rather than focusing on a single device feature or manufacturing process [3][4]. - The patents cover TF-SAW layered structure design, resonator-level transverse mode engineering, and complete filter system architecture, indicating a deliberate layered patent protection strategy [3][4]. Group 2: Timeline and Jurisdiction - The dispute first emerged in China and South Korea, with Murata filing lawsuits in Seoul and Shanghai on April 11, 2025, targeting specific patents in each jurisdiction [5]. - By November 2025, the lawsuit expanded to Europe, with Murata filing against a filter product sold in Germany, seeking a court order to stop infringement and recalling products, with a claim amount of approximately €1 million [6]. Group 3: Technical Focus - The claimed patents are based on the LiTaO₃/Si layered TF-SAW platform, addressing core issues in high-frequency, wideband RF applications, specifically transverse modes and higher-order modes [7]. - The patents impose multiple design constraints on structural, material, and system levels to mitigate the adverse effects of these modes [7]. Group 4: Chinese Patent Details - The four Chinese patents represent various complementary paths to control the TF-SAW design space, focusing on different aspects such as IDT structure, controlled sound speed distribution, and constraints on higher-order mode velocities [8][9]. Group 5: South Korean Patent Details - The three South Korean patents further develop the ideas from the Chinese patents, emphasizing mass loading for transverse mode control and establishing clear design rules for high-order mode velocity constraints [9][10]. Group 6: European Patent Details - The European patent EP3007358 addresses the transverse mode issue at the filter system level, proposing intentional differences in low-speed region widths between series and parallel resonators to disperse transverse mode resonance [10]. Group 7: Maxscend's IP Development - Since 2021, Maxscend has accelerated its patent activities in RF front-end modules and related devices, with a significant increase in patent applications and new patent families, indicating a strategic shift towards higher integration and frequency applications [11][16]. - Maxscend currently holds 217 RF patent families, with 25 directly related to TF-SAW technology, highlighting its importance in the company's RF technology roadmap [16][17]. Group 8: Comparative IP Landscape - Murata holds over 230 TF-SAW related patent families globally, significantly surpassing Maxscend's patent reserves, reflecting Murata's decades of R&D investment and strategic positioning in the TF-SAW domain [17][18]. - Maxscend's patents are primarily concentrated in China, with limited international extension, contrasting with Murata's extensive global patent coverage [17][18]. Group 9: Structural Impact of the Lawsuit - The lawsuit reveals systemic vulnerabilities for companies entering the TF-SAW technology field, particularly those relying on mainstream material systems and established design paradigms [20]. - The long-term implications for Maxscend include the need for differentiated technological paths to ensure freedom to operate as patent density increases in the TF-SAW domain [20][22]. Group 10: Industry Implications - This lawsuit exemplifies how established RF giants leverage comprehensive global patent portfolios to defend their technological leadership while highlighting the challenges faced by rapidly growing challengers in balancing innovation and existing IP constraints [22].

Group 1 - The stock of Zhuosheng Microelectronics (卓胜微) closed down by 2.60% at a price of 78.28 yuan on January 29 [1] - A block trade occurred with a total volume of 149,100 shares and a transaction amount of 10.1822 million yuan, with a discount rate of -12.75% [1] - The buyer was China Galaxy Securities Co., Ltd. and the seller was Huatai Securities Co., Ltd. [1] Group 2 - In the last three months, the stock has recorded one block trade with a total transaction amount of 10.1822 million yuan [1] - Over the past five trading days, the stock has declined by 1.19%, with a net outflow of 42.2692 million yuan from main funds [1]

Group 1 - On January 29, 2026, a block trade of 149,100 shares of Zhaosheng Microelectronics was executed, with a transaction value of 10.1822 million yuan, accounting for 0.96% of the total trading volume for that day [1] - The transaction price was 68.3 yuan per share, which represents a discount of 12.75% compared to the market closing price of 78.28 yuan [1] - The buyer was China Galaxy Securities Co., Ltd., while the seller was Huatai Securities Co., Ltd. [2]

证券日报网讯1月28日，卓胜微（300782）在互动平台回答投资者提问时表示，公司已具备提供卫星终 端产品、应用以及解决方案等能力，成为智能终端接入星网等商业航天网络的关键供应商之一，并已有 适用NTN标准的射频前端芯片等产品。基于资源平台的积累与赋能，公司现已储备了面向多个产业的 技术底蕴。未来公司也将深耕高效资源平台业务模式，充分发挥其长期可持续的资源性价值，把握并拓 展出更多向其他应用领域和产品的机遇。 ...

Core Viewpoint - The company anticipates a significant decline in revenue and net profit for 2025, primarily due to increased capacity investment and ongoing industry competition [1][2]. Group 1: Financial Forecast - The company expects to achieve revenue of approximately 37 to 37.5 billion yuan in 2025, representing a year-on-year decrease of about 16% to 18% [2]. - The projected net profit attributable to shareholders is estimated to be between -2.95 billion and -2.55 billion yuan, reflecting a year-on-year reduction of approximately 163.46% to 173.41% [2]. Group 2: Business Transformation and Growth Potential - The company is undergoing a transition to a Fab-Lite model, which is currently putting pressure on short-term performance [2]. - In the field of optical communication and satellite communication, the company is actively preparing for future growth, with advancements in SOI technology and the introduction of high-performance, low-power communication signal amplifiers based on germanium-silicon technology [2]. - The company has become a key supplier for smart terminal access to commercial space networks and has products that meet NTN standards in the early stages of shipment [2]. Group 3: Investment Recommendations - Revenue projections for 2025, 2026, and 2027 are estimated at 37.2 billion, 42.0 billion, and 50.0 billion yuan, respectively, with net profits of -2.7 billion, 2.5 billion, and 5.0 billion yuan [3]. - The investment rating is maintained at "Buy" [3].

证券日报网讯1月26日，卓胜微在互动平台回答投资者提问时表示，截至2026年1月20日公司股东人数为 73486户。 证券日报网讯1月26日，卓胜微在互动平台回答投资者提问时表示，截至2026年1月20日公司股东人数为 73486户。 ...