Core Viewpoint - The company is actively monitoring raw material price fluctuations and is implementing various strategies to mitigate the impact on its operational capabilities [1] Group 1 - The company is focusing on strategic procurement to stabilize the effects of raw material price volatility [1] - The company is investing in technological innovation to enhance its operational efficiency [1] - The company aims to deepen collaboration with customers to further manage raw material costs [1]

Core Viewpoint - As of January 9, 2026, the number of shareholders for Zhuosheng Microelectronics (300782) is reported to be 78,571 [1] Company Summary - Zhuosheng Microelectronics has engaged with investors through an interactive platform, providing transparency regarding its shareholder count [1]

证券日报网讯1月26日，卓胜微（300782）在互动平台回答投资者提问时表示，一直以来，公司积极布 局芯卓产业化项目建设，基于长期对射频设计和高端工艺的积累，公司现已储备了可面向高端射频、卫 星通讯、光通等不同领域的基础工艺技术底蕴积累。未来公司将加速落地资源平台的建设，专注布局和 投资新的前沿技术，突破工艺技术壁垒，深度构建核心竞争力，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。 ...

北京市天元律师事务所 关于江苏卓胜微电子股份有限公司 2026 年第一次临时股东会的法律意见 京天股字(2026)第040号 致:江苏卓胜微电子股份有限公司 江苏卓胜微电子股份有限公司(以下简称"公司")2026年第一次临时股东会 (以下简称"本次股东会")采取现场投票与网络投票相结合的方式,现场会议 于 2026 年 1 月 26 日下午 14:30 在江苏省无锡市滨湖区胡绿工业园刘闾路 29 号 (无锡芯卓湖光半导体有限公司)一层会议室召开。北京市天元律师事务所(以 下简称"本所"）接受公司聘任,指派本所律师参加本次股东会现场会议进行见 证,并根据《中华人民共和国公司法》《中华人民共和国证券法》(以下简称 "《证券法》"）《上市公司股东会规则》（以下简称"《股东会规则》"）以 及《江苏卓胜微电子股份有限公司章程》(以下简称"《公司章程》")等有关 规定,就本次股东会的召集、召开程序、出席现场会议人员的资格、召集人资 格、会议表决程序及表决结果等事项出具本法律意见。 为出具本法律意见,本所律师审查了《江苏卓胜微电子股份有限公司第三届 董事会第十五次会议决议公告》《江苏卓胜微电子股份有限公司关于召开 2026 ...

北京市天元律师事务所 关于 江苏卓胜微电子股份有限公司 延长 2025 年度向特定对象发行 A 股股票的 股东大会决议有效期及相关授权有效期的 专项核查意见 TLANYUAN 北京市天元律师事务所 北京市天元律师事务所 关于江苏卓胜微电子股份有限公司 延长2025年度向特定对象发行A股股票的 股东大会决议有效期及相关授权有效期的 专项核查意见 致:江苏卓胜微电子股份有限公司 北京市天元律师事务所（下称"本所"）接受江苏卓胜微电子股份有限公司 (下称"发行人"或"公司") 委托,担任发行人申请 2025 年度向特定对象发行 A 股股票并在深圳证券交易所上市(下称"本次发行")的专项法律顾问。 针对发行人延长本次发行股东大会决议有效期(下称"决议有效期")及延 长股东大会授权董事会及其授权人士全权办理公司本次向特定对象发行股票相 关事宜的有效期(下称"授权有效期",与决议有效期以下合称"决议及授权有 效期")事项,本所律师现根据《监管规则适用指引 -- 发行类第 6 号》(下称"《6 号监管指引》"）的相关要求进行核查并出具本专项核查意见。 本专项核查意见仅供发行人回复《6号监管指引》核查要求及为本次发行之 目的 ...

中国国际金融股份有限公司 关于江苏卓胜微电子股份有限公司 延长公司向特定对象发行股票股东大会决议有效期及 相关授权有效期的核查意见 中国国际金融股份有限公司(以下简称"中金公司"或"保荐机构")作 为江苏卓胜微电子股份有限公司(以下简称"卓胜微"或"公司")2025年度 向特定对象发行股票(以下简称"本次发行")项目的保荐入,根据《监管规 则适用指引 -- 发行类第 6 号》等有关文件规定,对卓胜微延长公司向特定对 象发行股票股东大会获议有效期及相关授权有效期的事项进行了审慎核查,具 体核查情况和核查意见如下: 一、关于延长公司向特定对象发行股票相关有效期的基本情况 公司于 2025年1月24日召开第三届董事会第九次会议、第三届监事会第九 次会议,并于 2025年2月 12日召开 2025年第一次临时股东大会,审议通过了 《关于公司 2025 年度向特定对象发行股票方案的议案》《关于提请股东大会授 权公司董事会及其授权人士全权办理公司本次向特定对象发行股票相关事宜的议 案》等与公司 2025年度向特定对象发行股票事宜相关的议案。根据上述决议, 公司本次向特定对象发行股票决议的有效期、授权董事会及其授权人士全权 ...

证券代码：300782 证券简称：卓胜微 公告编号：2026-007 江苏卓胜微电子股份有限公司 2026年第一次临时股东会决议公告 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。 特别提示： 一、会议召开和出席情况 （一）会议召开情况 1、股东会召开时间： （1）现场会议时间：2026 年 1 月 26 日（星期一）下午 14:30 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为： 2026 年 1 月 26 日（星期一）上午 9:15-9:25，9:30-11:30，下午 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：2026 年 1 月 26 日（星期 一）9:15-15:00 期间的任意时间。 2、股东会召开地点：江苏省无锡市滨湖区胡埭工业园刘闾路29号（无锡芯 卓湖光半导体有限公司）一层会议室 3、召开方式：现场投票与网络投票相结合的方式 4、召集人：江苏卓胜微电子股份有限公司（以下简称"公司"）董事会 5、主持人：公司董事长许志翰先生 1、本次股东会无否决提案的情况； 2、本次股东会无变更以往股东会 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [3][11]. Core Insights - The company is undergoing a transformation to a Fab-Lite model, which is expected to pressure short-term performance. For 2025, the company anticipates revenue of approximately 3.72 to 3.75 billion yuan, representing a year-on-year decline of about 16% to 18%. The net profit attributable to the parent company is projected to be between -295 million and -255 million yuan, a decrease of approximately 163.46% to 173.41% year-on-year [2][3]. - The company is actively preparing for growth in optical communication, satellite communication, and high-end RF sectors. Its SOI technology has evolved from a single product application to a comprehensive core technology platform covering all categories of RF front-end. The ongoing breakthroughs in the second-generation SOI process are expected to further solidify its position in the global RF chip market [2][3]. - The company has launched several high-performance, low-power mobile communication signal low-noise amplifier products based on germanium-silicon technology, which is crucial for efficient optoelectronic conversion in silicon photonics [2]. Financial Forecasts and Metrics - Revenue projections for 2025, 2026, and 2027 are estimated at 3.72 billion, 4.20 billion, and 5.00 billion yuan, respectively. The net profit attributable to the parent company is expected to be -270 million, 250 million, and 502 million yuan for the same years [3][5]. - The company’s EBITDA is forecasted to be 1.07 billion, 1.57 billion, and 1.82 billion yuan for 2025, 2026, and 2027, respectively [5]. - The projected EPS for the years 2025, 2026, and 2027 is -0.50, 0.47, and 0.94 yuan per share [5]. Relative Valuation - The company is recognized as one of the leading players in the RF front-end sector within the domestic integrated circuit industry, adopting a Fab-Lite operational model. It offers a comprehensive range of products across various materials and processes, allowing flexibility in meeting market and customer demands [8]. - The average PB ratio for comparable companies in 2026 is expected to be 5.82x, while the company’s projected PB ratios for 2025, 2026, and 2027 are 4.18, 4.13, and 4.03, respectively [8][9].

Market Overview - The semiconductor sector experienced a slight increase of 0.02% on January 23, with Zhenlei Technology leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up by 0.33%, while the Shenzhen Component Index closed at 14439.66, up by 0.79% [1] Top Gainers in Semiconductor Sector - Tanguo Technology (688270) saw a closing price of 215.93, with a significant increase of 20.00% and a trading volume of 306,400 shares, resulting in a transaction value of 6.166 billion [1] - Hangyu Micro (300053) closed at 22.96, up by 13.10%, with a trading volume of 1,644,800 shares and a transaction value of 3.686 billion [1] - Biyi Micro (688045) closed at 53.16, increasing by 12.72%, with a trading volume of 85,500 shares and a transaction value of 451 million [1] Top Losers in Semiconductor Sector - Jingchen Co. (688123) closed at 164.00, down by 7.87%, with a trading volume of 123,800 shares and a transaction value of 2.062 billion [2] - Mingwei Electronics (688699) closed at 55.07, decreasing by 6.53%, with a trading volume of 112,200 shares and a transaction value of 624 million [2] - Liandong Technology (301369) closed at 128.15, down by 5.79%, with a trading volume of 18,900 shares and a transaction value of 24.7 million [2] Capital Flow Analysis - The semiconductor sector experienced a net outflow of 9.034 billion from institutional investors, while retail investors saw a net inflow of 7.113 billion [2] - Speculative funds recorded a net inflow of 1.921 billion [2] Individual Stock Capital Flow - Tanguo Technology (688270) had a net inflow of 5.91 billion from institutional investors, while it faced a net outflow of 4.03 billion from speculative funds [3] - Ziguang Guowei (002049) saw a net inflow of 3.13 billion from institutional investors, with a net outflow of 1.79 billion from speculative funds [3] - Wenta Technology (600745) recorded a net inflow of 2.71 billion from institutional investors, while speculative funds experienced a net outflow of 1.52 billion [3]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [3][11]. Core Insights - The company is undergoing a transformation to a Fab-Lite model, which is expected to pressure short-term performance. For 2025, the company anticipates revenue of approximately 3.72 to 3.75 billion yuan, representing a year-on-year decline of about 16% to 18%. The net profit attributable to the parent company is projected to be between -295 million and -255 million yuan, a decrease of approximately 163.46% to 173.41% year-on-year [2][3]. - The company is actively preparing for growth in optical communication, satellite communication, and high-end RF sectors. Its SOI technology has evolved from a single product application to a comprehensive core technology platform covering all categories of RF front-end. The ongoing breakthroughs in the second-generation SOI process are expected to further solidify its position in the global RF chip market [2][3]. - The company has launched several high-performance, low-power mobile communication signal low-noise amplifier products based on germanium-silicon technology, which is crucial for efficient optoelectronic conversion in silicon photonics [2]. Financial Projections - Revenue projections for the company are as follows: 2025 at 3.72 billion yuan, 2026 at 4.20 billion yuan, and 2027 at 5.00 billion yuan. The net profit attributable to the parent company is expected to be -270 million yuan in 2025, 250 million yuan in 2026, and 503 million yuan in 2027 [3][5]. - The EBITDA for the years 2025, 2026, and 2027 is projected to be 1.07 billion yuan, 1.57 billion yuan, and 1.82 billion yuan respectively, indicating a recovery in profitability post-2025 [5][10]. - The company’s earnings per share (EPS) is forecasted to be -0.50 yuan in 2025, 0.47 yuan in 2026, and 0.94 yuan in 2027, reflecting a significant turnaround in profitability [5][10]. Relative Valuation - The company is recognized as one of the leading players in the RF front-end sector within the domestic integrated circuit industry, with a comprehensive business model and advanced industry chain layout. The average price-to-book (P/B) ratio for comparable companies is projected at 5.82x for 2026, while the company’s P/B ratio is expected to be around 4.18x [8][9].