在集成电路自主化与国产替代的浪潮下，国内市场对本土产品的需求持续攀升，叠加国内集成电路产线 对成品率提升的迫切诉求，共同开辟出广阔的市场空间。广立微凭借软硬件融合的一站式高效解决方 案，搭配持续拓展的EDA工具、测试设备、数据分析系统等产品矩阵，显著提升芯片成品率、降低生 产成本，有效增强客户产品的市场竞争力，进一步强化客户粘性。多重利好因素交织，共同推动公司业 绩稳健增长。 全流程软硬件产品覆盖，构建集成电路全产业链协同发展"三驾马车" 随着全球数字化浪潮的加速演进，5G通信、人工智能、物联网、大数据、新能源汽车等新兴产业迎来 爆发式增长，由此催生了对集成电路的海量需求，成为驱动EDA软件行业市场规模持续扩张的核心引 擎。中商产业研究院发布的《2025-2030年中国集成电路市场调研及发展趋势预测报告》预测，2024年 中国集成电路行业销售规模将达到12890.7亿元，2025年约为13535.3亿元。 作为国内领先的集成电路EDA软件与晶圆级电性测试设备供应商，广立微深耕芯片成品率提升与电性 测试快速监控技术领域，已成为国内外多家大型集成电路制造及设计企业的核心合作伙伴。 8月17日，广立微（301095 ...

证券时报·数据宝统计，截至8月19日，有663家公司公布2025年半年报，其中432家净利润同比增长， 231家同比下降，440家营业收入同比增长，223家同比下降，净利润和营业收入同时增长的公司有智明 达等355家，利润收入均下降的有蓝盾光电等146家，业绩增幅翻倍的公司有111家，其中智明达增幅最 大，达2147.93%。（数据宝） 已公布半年报公司净利润增幅排名 | 代码 | 简称 | 每股收益 | 净利润（万 | 净利润同比 | 营业收入（万 | 营业收入同比 | | --- | --- | --- | --- | --- | --- | --- | | | | （元） | 元） | （%） | 元） | （%） | | 688636 | 智明达 | 0.2284 | 3829.80 | 2147.93 | 29475.64 | 84.83 | | 688768 | 容知日 新 | 0.1600 | 1423.55 | 2063.42 | 25633.20 | 16.55 | | 688313 | 仕佳光 子 | 0.4793 | 21664.75 | 1712.00 | 99262.53 | 121 ...

Core Viewpoint - Guangli Micro (301095) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit, indicating robust business growth and recovery in demand [1]. Financial Performance Summary - Total revenue reached 246 million yuan, a year-on-year increase of 43.17% [1]. - Net profit attributable to shareholders was 15.68 million yuan, up 518.42% year-on-year [1]. - Gross margin was 58.58%, down 10.6% compared to the previous year [1]. - Net margin improved to 6.61%, a 106.29% increase year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 30.90 million yuan, representing 12.57% of total revenue, a significant increase of 193.11% [1]. Key Financial Metrics - Earnings per share (EPS) increased to 0.08 yuan, a rise of 526.77% year-on-year [1]. - Operating cash flow per share was -0.07 yuan, an improvement of 82.7% compared to the previous year [1]. - The company's cash and cash equivalents decreased by 64.88% to 736 million yuan due to increased investments and dividend distributions [3]. - Accounts receivable increased by 8.14% to 340 million yuan, attributed to the recovery of sales [4]. Cost and Expense Analysis - Operating costs rose by 72.02%, driven by business expansion [6]. - Financial expenses increased by 75.01%, primarily due to reduced interest income from lower bank rates [6]. - Research and development expenses grew by 9.10%, reflecting the company's commitment to innovation [6]. Investment and Cash Flow Insights - The net cash flow from operating activities increased by 82.67%, supported by a 87.11% rise in sales collections [6]. - The net cash flow from investing activities decreased significantly by 463.12%, due to substantial investments in structured deposits [6]. - The net increase in cash and cash equivalents dropped by 113.09%, influenced by high structured deposit balances and increased capital expenditures [6]. Market Position and Future Outlook - The company’s return on invested capital (ROIC) was 1.26%, indicating moderate capital efficiency [7]. - Analysts expect the company's revenue for 2025 to reach 149 million yuan, with an average EPS forecast of 0.75 yuan [8]. - The largest fund holding Guangli Micro is the NuAn Optimized Configuration Mixed A Fund, which has shown a significant increase in value over the past year [9].

Summary of Guangli Micro's Conference Call Company Overview - **Company**: Guangli Micro - **Acquisition**: Acquired Belgian company Luxida to enhance capabilities in device simulation, link simulation, and PDK services, solidifying its position in the optical communication sector [2][4] Industry Insights - **Silicon Photonics Market**: Expected to grow at over 45% CAGR until 2033, driven by increasing bandwidth demands [2][6] - **Optical Chip Solutions**: There is a pressing demand for efficient, low-cost optical chip solutions, with traditional EML technology facing challenges [5][6] Financial Performance - **2025 H1 Financials**: - Revenue: Approximately 1.2 billion CNY, up 15% YoY - Net Profit: 280 million CNY, up 20% YoY - Software business growth: Over 50% - Hardware business growth: 38% - Overall revenue growth: Restored to over 43% [3][20][22] Business Developments - **New Orders**: New orders reached approximately 310 million CNY, a 60% increase YoY, with total orders nearing 500 million CNY [22] - **DFT Business**: Revenue doubled YoY, with a new team established for DFT and DFM tool development, expecting multiple tool launches by year-end [2][26][27] Acquisition Impact - **Luxida Acquisition**: - Enhances Guangli Micro's global capabilities in device simulation and PDK services, crucial for improving silicon photonics yield and reducing manufacturing costs [5][9] - Plans to integrate Luxida's technology with teams from MIT and other partners to create a complete industrial ecosystem [5][12] Market Position and Strategy - **Market Share**: Luxida holds over 50% market share in its segment, with plans for further acquisitions to enhance capabilities [8][9] - **Revenue Goals**: Aiming for Luxida to contribute approximately 200 million USD in revenue within 3-5 years, leveraging partnerships and domestic collaborations [9][10] Challenges and Risks - **Overseas Market Expansion**: Slow progress in overseas markets, particularly in hardware sales in South Korea, but software sales are more stable [4][34] - **Geopolitical Factors**: Potential impacts from US-China relations on business dynamics, particularly concerning overseas clients [17] Future Outlook - **R&D Expansion**: Plans to establish several R&D centers in China post-acquisition, while retaining core teams in Belgium [35] - **Revenue Composition**: Anticipated revenue sources include 70% from licensing, 20-30% from design services, and 10-20% from royalties in the long term [15][16] Conclusion Guangli Micro is strategically positioned to capitalize on the growing silicon photonics market through its recent acquisition of Luxida, robust financial performance, and a clear focus on expanding its product offerings and market reach. The company is actively addressing challenges in overseas markets while enhancing its domestic capabilities to drive future growth.

8月18日，A股三大指数今日延续强势表现，沪指一举创出2015年8月以来的十年新高，北证50创历史新 高，深成指、创业板指均突破去年10月8日高点。截止收盘，沪指涨0.85%，收报3728.03点；深证成指 涨1.73%，收报11835.57点；创业板指涨2.84%，收报2606.20点。沪深两市成交额达到27642亿，较上一 交易日大幅放量5196亿。 天岳先进——8月18日，天岳先进正式公布其境外上市外资股（H股）发行最终定价为每股42.80港元。 公司本次H股发行已确定于2025年8月20日在香港联合交易所有限公司主板正式挂牌并开始上市交易， 标志着这家国内领先的半导体装备制造商即将开启国际化资本市场新征程。 半导体板块表现较好。集微网从电子元件、材料、设备、设计、制造、IDM、封测、分销等领域选取了 117家半导体公司。其中108家公司市值上涨，旋极信息、力源信息、深圳华强等公司市值领涨；7家公 司市值下跌，澜起科技、振芯科技、楚江新材等公司市值领跌。 随着A股上市公司进入半年报密集披露期，市场资金对业绩主线的关注度持续提升。统计显示，截至发 稿，已有525家A股上市公司披露了半年报，其中超过380家 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300730 | 科创信息 | 21.25 | 19.99% | 99.70万 | | 19.54亿 | | 688579 | 山大地纬 | 13.58 | 16.87% | 36.05万 | | 4.62亿 | | 688590 | 新致软件 | 26.53 | 15.75% | 35.23万 | | 260.6 | | 300803 | 指南针 | 125.96 | 14.64% | 129.78万 | | 157.94亿 | | 301095 | 广立微 | 94.88 | 13.86% | 17.87万 | | 16.15 Z | | 688083 | 中望软件 | 77.00 | 12.46% | 6.75万 | | 5.06亿 | | 688318 | 财富趋势 | 155.85 | 12.36% | 17.00万 | | 25.11亿 | | 300033 | 同花顺 | 404.90 | 10.27% | 30.88 ...

收购LUCEDA 进军硅光，业务增长空间打开。公司于8.12 日公告收购全球硅光设计软件龙头 LUCEDA，该公司的主要业务为硅光芯片设计成套软件以及PDK 开发、设计流程优化等。在AI 产业大 趋势下，全球硅光模块市场规模高速增长，尤其是国内相关厂商也在全球产业链中占据重要地位，我们 认为LUCEDA 可以作为公司在硅光产业布局的锚点，未来公司有望将目前在半导体制造端的业务方案 逐步复制至硅光领域，实现从传统EDA 到PDK 的业务扩展。根据收购公告，LUCEDA 2024/2025E 年收 入为0.38/0.42 亿元，净利润端基本盈亏平衡，在收购完成并表后预计对公司收入端也能够实现一定的 充实。 2Q25 收入略超预期，利润符合预期 公司公布1H25 业绩：1H25 收入2.46 亿元，同比+43%；归母净利润0.16亿元，同比+518%；扣非归母净 利润-0.01 亿元，亏损同比收窄70%。单季度来看，2Q25 收入1.79 亿元，同比+404%；归母净利润0.29 亿元，同比增长16%；扣非归母净利润0.21 亿元，同比持平。 发展趋势 软件业务实现高增，设备业务复苏延续。公司上半年软件开发及授权业 ...

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 92.78 [1][4]. Core Views - The company's revenue growth is driven by the increasing demand for EDA software and testing equipment, with a significant year-on-year revenue increase of 43.17% in H1 2025, reaching RMB 246 million [1][2]. - The acquisition of Luceda NV for EUR 40 million allows the company to enter the silicon photonics chip design field, enhancing its product offerings and market reach [3]. - The company is well-positioned to benefit from the domestic semiconductor industry's push for self-sufficiency, with a focus on R&D and product diversification [2]. Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of RMB 246 million, a year-on-year increase of 43.17%, and a net profit of RMB 15.68 million, up 518.42% from the previous year [1]. - Q2 2025 revenue was RMB 179 million, reflecting a year-on-year growth of 40.34% and a quarter-on-quarter increase of 169.91% [1]. Product Development - The company has launched new products, including DFT and DFM tools, which have contributed to a 50.24% increase in software development and licensing revenue [1]. - The software and testing equipment segments are expected to continue growing, with software revenue projected to reach RMB 267 million in 2025 [4][10]. Market Position and Strategy - The company is leveraging the trend of domestic substitution in the semiconductor industry, with increasing adoption of its software and testing solutions [2]. - The acquisition of Luceda NV is expected to enhance the company's capabilities in silicon photonics, potentially accelerating its overseas expansion [3]. Earnings Forecast and Valuation - Revenue forecasts for 2025-2027 have been adjusted upwards by 9%, 11%, and 10% respectively, with expected revenues of RMB 760 million, RMB 987 million, and RMB 1.23 billion [4]. - The estimated net profit for 2025 is projected to be RMB 163 million, with an EPS of RMB 0.81 [4][9].

Core Insights - In August 18, 2023, 18 companies released their semi-annual reports for 2025, with 10 companies reporting a year-on-year increase in net profit, while 8 companies experienced a decline [1] - 14 companies reported a year-on-year increase in operating revenue, whereas 4 companies saw a decrease [1] - Among the companies, 10 had both net profit and operating revenue growth, while 4 had declines in both metrics [1] - Notably, 4 companies experienced a doubling of their performance growth, with Shengnong Development showing the highest increase at 791.93% [1] Company Performance Summary - Shengnong Development (002299): - Earnings per share: 0.7382 - Net profit: 91,024.96 million - Net profit growth: 791.93% - Operating revenue: 885,640.52 million - Operating revenue growth: 0.22% [1] - Xiaoming Co., Ltd. (300967): - Earnings per share: 0.9928 - Net profit: 18,472.13 million - Net profit growth: 733.34% - Operating revenue: 75,181.40 million - Operating revenue growth: 93.65% [1] - Guangli Micro (301095): - Earnings per share: 0.0796 - Net profit: 1,568.42 million - Net profit growth: 518.42% - Operating revenue: 24,593.73 million - Operating revenue growth: 43.17% [1] - Sifangguang Electric (688665): - Earnings per share: 0.8400 - Net profit: 8,412.38 million - Net profit growth: 103.41% - Operating revenue: 50,790.40 million - Operating revenue growth: 49.36% [1] - Huayou Cobalt (603799): - Earnings per share: 1.6100 - Net profit: 271,093.61 million - Net profit growth: 62.26% - Operating revenue: 3,719,651.41 million - Operating revenue growth: 23.78% [1] - Other companies with declines in performance include: - Sanxia New Materials (600293): - Net profit: -2,699.30 million - Net profit decline: -182.33% - Operating revenue: 62,546.45 million - Operating revenue decline: -28.01% [1]

Group 1 - Guangli Micro (301095.SZ) released its 2025 semi-annual report on August 18, 2025, showing that as of August 17, 2025, 11 institutional investors disclosed holding A-shares of Guangli Micro, with a total holding of 88.5624 million shares, accounting for 44.22% of the total share capital [1] - The top ten institutional investors include Hangzhou Guangli Micro Equity Investment Co., Ltd., Hangzhou Guangli Gongchuang Investment Partnership (Limited Partnership), and others, with the top ten investors holding a combined proportion of 44.21%, an increase of 0.24 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, two public funds increased their holdings compared to the previous period, including Nuoan Optimized Allocation Mixed A and Guolian An Semiconductor ETF, with an increase ratio of 0.25% [2] - One new public fund disclosed this period compared to the previous quarter, namely Shenwan Hongyuan Lingxin Specialized and New Theme Mixed Initiated A, while four public funds were not disclosed this period, including Southern Zhihong Mixed A and others [2]