Company Performance - Zhaosheng Microelectronics (SZ 300782) reported Q3 performance on October 29, indicating revenue of approximately 2.769 billion yuan for the first three quarters of 2025, a year-on-year decrease of 17.77% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 171 million yuan [1] - Basic earnings per share showed a loss of 0.3193 yuan [1] Market Capitalization - As of the report, Zhaosheng Microelectronics had a market capitalization of 42.2 billion yuan [1]

一、申请授信情况概述 公司拟向交通银行股份有限公司无锡分行申请总额不超过人民币 16 亿元的综 合授信额度，授信业务包括但不限于流动资金借款、固定资产贷款、保函、信用证、 银行承兑汇票、贴现、贸易融资等综合业务，具体授信业务品种、额度、业务期限 和利率等，以双方签署的合同为准，授信额度可循环使用。该综合授信额度有效期 自本次董事会审议通过之日起至下一年度审议年度授信额度的董事会或股东会决议 通过之日内有效。 二、申请授信的目的及公司的影响 公司此次向银行申请授信，主要是为了满足公司日常经营与发展的资金需求， 符合公司生产经营计划，不存在损害上市公司及全体股东利益的情形。 三、其他 以上授信额度不等于公司的实际融资金额，实际融资金额应在授信额度内， 并以银行与公司实际发生的融资金额为准，具体融资金额及品种将视公司业务发 展的实际需求来合理确定。公司董事会授权董事长或其指定的授权代理人在上述额 度内与银行签署相关的合同及法律文件。 证券代码：300782 证券简称：卓胜微 公告编号：2025-083 江苏卓胜微电子股份有限公司 关于向银行申请综合授信额度的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、 ...

江苏卓胜微电子股份有限公司 2025 年第三季度报告披露提示性公告 证券代码：300782 证券简称：卓胜微 公告编号：2025-081 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。 特此公告。 江苏卓胜微电子股份有限公司 董事会 2025 年 10 月 30 日 江苏卓胜微电子股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开 了第三届董事会第十四次会议，审议通过了公司《2025 年第三季度报告》。 为使投资者全面了解公司的经营成果、财务状况及未来发展规划，公司 《2025 年第三季度报告》于 2025 年 10 月 30 日在中国证监会指定的创业板信息 披露网站巨潮资讯网（http://www.cninfo.com.cn）披露，敬请投资者注意查阅。 ...

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。 证券代码：300782 证券简称：卓胜微 公告编号：2025-084 江苏卓胜微电子股份有限公司 关于参加 2025 无锡上市公司投资者集体接待日活动的公告 特此公告。 江苏卓胜微电子股份有限公司 董事会 2025 年 10 月 30 日 为进一步加强与投资者的互动交流，江苏卓胜微电子股份有限公司（以下简称 "公司"）将参加"2025 无锡上市公司投资者集体接待日"活动，现将相关事项公 告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参与本 次互动交流，活动时间为 2025 年 11 月 4 日（星期二）15:30-17:00。 届时，公司董事会秘书将通过网络在线交流方式就公司 2025 年三季度业绩、公 司治理、发展战略、经营状况、融资计划、股权激励和可持续发展等投资者关心的 问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ ...

证券代码：300782 证券简称：卓胜微 公告编号：2025-080 江苏卓胜微电子股份有限公司 第三届董事会第十四次会议决议公告 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。 一、董事会会议召开情况 江苏卓胜微电子股份有限公司（以下简称"公司"）第三届董事会第十四次 会议于 2025 年 10 月 28 日在公司会议室以现场结合通讯的方式召开。会议通知于 2025 年 10 月 23 日通过电子邮件方式送达全体董事。会议应参会董事 9 人，实际 参会董事 9 人。本次会议由董事长许志翰先生召集并主持，公司高级管理人员列席 了会议。本次会议的召集、召开符合《中华人民共和国公司法》和《江苏卓胜微电子股 份有限公司章程》（以下简称"《公司章程》"）的有关规定，会议合法有效。 二、董事会会议审议情况 与会董事对本次会议审议的议案进行讨论，并以表决票表决的方式进行了审 议表决： （一）审议通过《关于 2025 年第三季度报告的议案》 董事会认为：根据相关法律、法规及《公司章程》的规定，公司《2025 年第 三季度报告》真实、公允地反映了公司 2025 年第三季度的财 ...

Core Viewpoint - The company reported a decline in revenue and a net loss for the third quarter and the first three quarters of the year [1] Financial Performance - Third quarter revenue was 1.065 billion yuan, a decrease of 1.62% [1] - Net loss for the third quarter amounted to 23.3364 million yuan [1] - Revenue for the first three quarters was 2.769 billion yuan, down 17.77% [1] - Net loss for the first three quarters reached 171 million yuan [1]

Financial Performance - The company's revenue for Q3 2025 was ¥1,065,167,202.05, representing a decrease of 1.62% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of ¥23,336,355.98, a decline of 132.84% year-on-year[4] - The net profit after deducting non-recurring gains and losses was a loss of ¥53,874,173.52, down 189.21% from the previous year[4] - Total operating revenue decreased to ¥2,769,013,200.59 from ¥3,367,437,377.09, representing a decline of approximately 17.7% year-over-year[21] - Net profit for the period was a loss of ¥171,635,637.94, compared to a profit of ¥425,000,088.61 in the previous period, indicating a significant decline[22] - The company reported a comprehensive income total of -¥161,064,157.48, down from ¥453,676,020.69 in the prior year[23] - Basic earnings per share fell to -0.3193 from 0.7965, reflecting a substantial decrease in profitability[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥14,725,568,014.97, an increase of 3.46% compared to the end of the previous year[4] - Non-current assets totaled ¥9,237,008,980.92, slightly up from ¥9,216,416,245.51, indicating stability in asset management[20] - Total liabilities increased to ¥4,707,431,186.20 from ¥4,032,035,044.03, marking an increase of approximately 16.7%[20] - The company's long-term borrowings increased by 96.96% to ¥1,247,697,668.08, primarily due to increased borrowing[9] - Long-term borrowings rose significantly to ¥1,247,697,668.08 from ¥633,474,863.89, reflecting increased leverage[20] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥55,646,650.73, showing a significant increase of 115.19%[4] - The net cash flow from operating activities was $55,646,650.73, a significant improvement compared to a net outflow of -$366,270,295.42 in the previous period[26] - Total cash inflow from financing activities amounted to $2,312,729,428.09, while cash outflow was $2,112,985,506.88, resulting in a net cash flow of $199,743,921.21[27] - Cash inflow from operating activities totaled $3,147,815,913.79, while cash outflow was $3,092,169,263.06, leading to a positive net cash flow[26] - Cash inflow from investment activities was $38,531,980.99, while cash outflow was $570,831,772.50, resulting in a net cash outflow of -$532,299,791.51[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 79,417[10] - The total number of shareholders holding more than 5% of shares includes significant stakeholders such as Wuxi Huizhi United Investment with 59,209,013 shares[12] - The company has a total of 86,695,678 restricted shares at the end of the period, with specific shares released from restrictions for certain executives[15] Investments and Financial Strategies - The company announced a 2025 restricted stock incentive plan, with relevant details disclosed in multiple announcements[16] - The company provided guarantees for its wholly-owned subsidiary's bank loan applications, indicating strategic financial support[16] - The company's long-term equity investments decreased to ¥78,224,402.91 from ¥83,829,907.33, a decline of about 6.4%[18] - Other equity instrument investments increased to ¥202,329,718.99 from ¥192,329,717.71, showing a growth of approximately 5.2%[18] Operational Metrics - The weighted average return on net assets was -0.23%, a decrease of 0.93% year-on-year[4] - Financial expenses rose by 104.49% to ¥43,627,383.47, mainly due to increased interest on borrowings[9] - Total current assets amounted to ¥5,488,559,034.05, up from ¥5,016,425,768.98, which is an increase of around 9.4%[18] - Accounts receivable increased to ¥686,638,822.64 from ¥578,978,664.35, representing a growth of about 18.6%[18] - Inventory rose significantly to ¥3,016,034,376.40 from ¥2,520,876,207.07, indicating an increase of approximately 19.7%[18] - Total operating costs decreased slightly to ¥2,888,721,459.17 from ¥2,948,986,423.90, a reduction of about 2.0% year-over-year[22]

Core Insights - The Shanghai Composite Index briefly surpassed 4000 points, significantly boosting market sentiment, with notable stock gains in the electronics sector, including increases of over 10 times since August 2015 [1] - The electronic ETF (515260) experienced a volatile trading session, with a peak increase of 0.84% but ultimately closed down 0.56%, despite a substantial increase in trading volume [1][3] - Major electronic stocks showed strong performance, with significant gains in companies like Shenghong Technology and Huaxin Technology, reflecting a positive outlook for the sector [3][4] Market Performance - The electronic sector saw a net inflow of 6.145 billion yuan from major funds, ranking second among 31 primary industries, indicating strong investor interest [3] - Over the past 60 days, the electronic sector attracted a total of 411.6 billion yuan in net inflows, maintaining its leading position among industries [3] Company Performance - Among the 50 constituents of the electronic ETF, 15 companies reported third-quarter earnings, all of which were profitable, with 14 showing double-digit year-on-year growth in net profit [4] - Notable companies like Shenghong Technology and Hanwha Technology reported year-on-year net profit increases of 324% and 321%, respectively, highlighting strong financial performance in the sector [4] Future Outlook - The electronic sector is expected to benefit from the upcoming consumer electronics peak season and the release of AI-related products, with positive capital expenditure guidance from major domestic and international companies [5] - The electronic ETF (515260) is positioned to capitalize on trends in semiconductor and consumer electronics, with a significant portion of its constituents linked to the Apple supply chain [5]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) will implement reforms to the ChiNext board, aiming to establish listing standards that better align with the characteristics of emerging industries and innovative enterprises, providing more precise and inclusive financial services for new industries and technologies [5]. Group 1: Market Performance - As of October 28, 2025, the Tianhong ChiNext ETF (159977) rose by 0.72%, marking a three-day increase, with a transaction volume of 67.69 million yuan [3]. - The ChiNext ETF has seen significant growth, with an increase of 840 million yuan in scale over the past three months and a rise of 2.136 billion units in trading volume [3]. Group 2: Product Highlights - The Tianhong ChiNext ETF (159977) tracks the ChiNext Index, which is currently near its historical median, with growth potential. Its PE, PB, and PS valuations are below the 64th percentile over the past five years, indicating attractive valuation levels compared to other broad-based indices [4]. - The Tianhong A500 ETF (159360) covers 35 secondary industries and tracks 500 constituent stocks, serving as a balanced allocation to core assets of the Chinese economy [4]. - The Tianhong Sci-Tech Index ETF (589860) covers 97% of the Sci-Tech board's market value, focusing on hard technology sectors, with over 80% allocation to strategic emerging industries such as semiconductors and artificial intelligence [4]. Group 3: Institutional Perspectives - CICC believes that the market may see a shift in style between large and small caps, with large-cap growth stocks expected to outperform in the medium term (3-6 months). The macroeconomic environment remains supportive of emerging growth sectors, with continued encouragement for innovation and M&A activities [6].

证券代码：300782 证券简称：卓胜微 江苏卓胜微电子股份有限公司 Maxscend Microelectronics Company Limited （江苏省无锡市滨湖区建筑西路 777 号 A3 幢 11 层） 2025 年度向特定对象发行 A 股股票 募集说明书 （修订稿） 保荐机构（主承销商） （北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层） 二〇二五年十月 江苏卓胜微电子股份有限公司 募集说明书 公司声明 本公司及全体董事、高级管理人员承诺募集说明书不存在任何虚假记载、误导性陈 述或重大遗漏，并保证所披露信息的真实、准确、完整。 1-1-1 江苏卓胜微电子股份有限公司 募集说明书 重大事项提示 公司特别提示投资者对下列重大事项或风险因素给予充分关注，并仔细阅读本募 集说明书相关章节。 一、公司相关风险 本公司特别提醒投资者注意公司及本次发行的以下事项，并请投资者认真阅读本募 集说明书"第六章 本次股票发行相关的风险说明"的全部内容。 （一）净利润下滑的风险 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）保证本募集 说明书中财务会计报告真实、完整。 证券监督 ...