VeriSilicon(SH:688521) Chang Jiang Shang Bao·2025-09-14 23:24Core Viewpoint - Chipone Technology (688521.SH), a leading company in the domestic semiconductor IP and chip customization sector, experienced a stock price surge, reaching the daily limit of 20% following the announcement of record-high new orders and a strategic acquisition plan [1][2][3]. Group 1: Financial Performance - As of September 11, 2025, Chipone signed new orders worth 1.205 billion yuan, marking a significant increase of 85.88% compared to the entire third quarter of 2024 [2][3]. - The total order backlog reached 3.025 billion yuan by the end of June 2025, representing a 23.17% increase from the end of the first quarter of 2025 [2][3]. - Approximately 64% of the new orders are related to AI computing, indicating a strong market demand in this segment [2][3]. Group 2: Strategic Developments - Chipone announced plans to acquire a 97.0070% stake in Chip Lai Technology to enhance its industry footprint [1][6]. - The acquisition is expected to strengthen Chipone's capabilities in AI ASIC design and improve its market competitiveness in key business areas [7][8]. - The company raised 1.807 billion yuan through a private placement to fund projects related to AIGC and smart mobility, as well as new IP development [1][8]. Group 3: Market Sentiment - The market has reacted positively to Chipone's announcements, with a significant increase in institutional holdings, reaching a record high of 142 million shares held by 632 funds [4][5]. - The stock price has seen substantial growth, increasing 6.51 times since September 18, 2024, and 2.5 times since the beginning of 2025 [4][5]. - Analysts expect that as the company's strategic initiatives progress and orders convert into revenue, its financial performance will improve significantly [9].