Core Viewpoint - The company, 联动科技, is focusing on high-power devices, modules, and third-generation semiconductor testing, leveraging its leading domestic R&D capabilities to enhance both business scale and customer quality through strategic focus and market expansion [1] Group 1: Business Development - The company has established deep collaborations with international leaders such as 安森美集团, 力特半导体, and 威世集团, as well as domestic leaders like 芯联集成, 中国中车, 三安光电, 通富微电, 华天科技, 华润微, and 扬杰科技 [1] - The company has successfully penetrated the supply chain systems of multiple chip design manufacturers, leading to an optimized customer structure [1] Group 2: Technological Advancements - The QT-8400 series testing platform, developed in recent years, has created a technological barrier in the full performance testing of silicon carbide and gallium nitride third-generation semiconductor wafers and modules [1] - The mass production and shipment of the QT-8400 series are accelerating, with a steady increase in the number of customers [1]

Core Insights - The company reported a revenue of 232.75 million yuan for the first three quarters of 2025, representing a year-on-year growth of 3.48% [1] - The net profit attributable to shareholders was 14.46 million yuan, showing a year-on-year decline of 4.79% [1] - Increased market expansion efforts contributed to a rise in product sales revenue [1] - Share-based payment expenses amounted to 11.77 million yuan during the reporting period, which impacted the profit level [1]

Core Viewpoint - Company is actively advancing the research and validation of new products in the large-scale digital SOC integrated circuit testing field, recognizing significant market opportunities due to low domestic high-end SOC testing machine localization rates and the growth of AI data centers [1] Group 1 - Company is focusing on the development and validation of new products in the digital SOC testing area, which is characterized by high complexity and long validation cycles [1] - The domestic localization rate for high-end SOC testing machines is currently low, presenting an opportunity for domestic substitution and self-control [1] - Company plans to increase R&D and market investment in this field to capitalize on the identified market opportunities [1]

Economic Information - The People's Bank of China emphasizes a cautious approach towards the development of stablecoins and will continue to combat domestic virtual currency operations to maintain financial order [2] - The China Securities Regulatory Commission (CSRC) has issued guidelines to strengthen the protection of small investors in the capital market, enhancing monitoring of abnormal trading behaviors and ensuring transparency regarding delisting risks [2][6] - October's polysilicon production is expected to reach approximately 134,000 tons, exceeding market expectations, while some leading companies plan to reduce production in November [3] Company Updates - Victory Technology reported a net profit of 1.102 billion yuan for Q3, a year-on-year increase of 260.52%, but a quarter-on-quarter decrease of 9.88% [5] - Taicheng Light's Q3 revenue was 386 million yuan, a year-on-year decrease of 4.98%, while net profit was 86.9765 million yuan, a year-on-year increase of 31.20% but a quarter-on-quarter decrease of 7.5% [5] - Several companies, including Tongrun Equipment and Jingji Agriculture, announced plans to reduce their shareholdings by up to 3% [7] Overseas Market Updates - International precious metal futures saw a significant decline of over 3%, with COMEX gold futures dropping 3.4% to $3,997 per ounce and silver futures falling 3.61% to $46.83 per ounce [5] - The UK government has cut the support scale for offshore wind farms by 18% to £900 million, while providing an £1.1 billion budget for renewable energy support auctions [5]

Core Insights - The global semiconductor industry is expected to gradually recover in 2024 after a cyclical adjustment, driven by demand from artificial intelligence, automotive electronics, industrial IoT, and consumer electronics [1] - The power semiconductor market is expanding continuously, with silicon carbide (SiC) recognized as a third-generation semiconductor material showing significant application potential in new energy vehicles and renewable energy generation [1] - The increasing penetration rates of SiC and gallium nitride (GaN) devices are anticipated to boost the demand for high-precision, high-power testing equipment, indicating a positive outlook for the industry's future development [1]

Company Overview - Founded in 1998, the company specializes in semiconductor backend packaging and testing equipment, focusing on automated testing systems and laser marking devices [2][3] - Key products include automated testing systems for power semiconductors and mixed-signal integrated circuits, as well as laser marking equipment for semiconductor chips [3] Financial Performance - For the first three quarters of 2025, the company reported a revenue of ¥232.75 million, a year-on-year increase of 3.48% [4] - Net profit attributable to shareholders was ¥14.46 million, reflecting a year-on-year decrease of 4.79% due to stock incentive expenses totaling ¥11.77 million [4] Industry Outlook - The global semiconductor industry is expected to recover in 2024, driven by demand from AI, automotive electronics, and industrial IoT [5][6] - The power semiconductor market is expanding, particularly in electric vehicles, renewable energy, and industrial automation sectors [5][6] - Silicon carbide (SiC) is highlighted as a key material with significant application potential in various high-tech fields [6] Order Trends and Customer Base - The semiconductor equipment industry is projected to maintain a positive outlook in 2025, with strong customer expansion intentions [7] - The company aims to capitalize on opportunities in SiC wafer testing and module testing, gaining recognition from leading domestic and international clients [7][8] - Major clients include ON Semiconductor, Lite-On Semiconductor, and domestic leaders like China CRRC and Sanan Optoelectronics, indicating a robust customer structure [8] Product Development - The company is advancing the development of SOC testing equipment, focusing on high-end SOC testing machines with low domestic replacement rates [10] - Increased investment in R&D and market efforts is anticipated to capture market opportunities in this sector [10]

Core Viewpoint - The company reported a slight increase in revenue for the first three quarters of 2025, but net profit showed a decline compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters reached 233 million yuan, representing a year-on-year growth of 3.48% [1] - The net profit attributable to shareholders was 14.46 million yuan, reflecting a year-on-year decrease of 4.79% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 7.50 million yuan, which is a year-on-year decrease of 28.87% [1] - Basic earnings per share stood at 0.21 yuan [1]

Core Viewpoint - The company reported a significant decline in both revenue and net profit for the third quarter of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for Q3 2025 was 76.95 million yuan, representing a year-on-year decrease of 13.06% [1] - The net profit attributable to shareholders was 2.346 million yuan, showing a substantial decline of 81.08% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 231,700 yuan, which is a drastic decrease of 97.39% compared to the same period last year [1]

Group 1 - The core point of the article indicates that Lingdong Technology reported a revenue of 76.959 million yuan in the third quarter, representing a year-on-year decline of 13.06% [1] - The net profit for the third quarter was 2.346 million yuan, showing a significant decrease of 81.08% compared to the same period last year [1] - For the first three quarters, the total revenue reached 233 million yuan, which is a year-on-year growth of 3.48% [1] - However, the net profit for the first three quarters was 14.4577 million yuan, reflecting a decline of 4.79% year-on-year [1]

证券代码：301369 证券简称：联动科技 公告编号：2025-086 佛山市联动科技股份有限公司 关于 2025 年前三季度计提减值准备的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 一、本次计提减值准备的概述 （一）本次计提减值准备的原因 佛山市联动科技股份有限公司（以下简称"公司"）根据《企业会计准则》 及公司会计政策的相关规定，基于谨慎性原则，对合并报表范围内截至 2025 年 9 月 30 日的各类资产进行了全面清查，对存在减值迹象的资产计提相应减值准 备。 公司 2025 年前三季度计提资产减值准备共计 3,366,792.40 元，具体情 况 如 下： | 资产减值项目 | 本期发生额（元） | | --- | --- | | 1、信用减值损失（损失以"-"号填列，下同） | | | 其中：应收票据坏账损失 | 341,496.39 | | 应收账款坏账损失 | -1,092,322.33 | | 其他应收款坏账损失 | 138,156.48 | | 2、资产减值损失 | | | 其中：存货跌价损失及合同履约成本减值损失 | -2,75 ...