Core Viewpoint - Juchip Technology's stock increased by 3.40% on December 24, with a trading volume of 262 million yuan, indicating strong market interest and activity in the company's shares [1]. Financing Summary - On December 24, Juchip Technology had a financing buy-in amount of 31.00 million yuan and a financing repayment of 43.35 million yuan, resulting in a net financing buy of -12.34 million yuan [1]. - The total financing and securities balance for Juchip Technology reached 490 million yuan, accounting for 5.35% of its market capitalization, which is above the 70th percentile of the past year [1]. - In terms of securities lending, there were no shares repaid on December 24, with 200 shares sold short, amounting to 10,400 yuan at the closing price [1]. Company Overview - Juchip Technology, established on June 5, 2014, and listed on November 29, 2021, is located in Zhuhai, Guangdong Province, specializing in the research, design, and sales of mid-to-high-end smart audio SoC chips [1]. - The company's revenue composition includes 70.82% from smart wireless audio SoC chips, 18.80% from edge AI processor chips, 10.31% from portable audio and video SoC chips, and 0.06% from other sources [1]. Financial Performance - As of September 30, Juchip Technology reported a revenue of 722 million yuan for the first nine months of 2025, representing a year-on-year growth of 54.74% [2]. - The net profit attributable to the parent company was 152 million yuan, showing a significant year-on-year increase of 113.85% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Juchip Technology reached 21,000, an increase of 22.56% from the previous period [2]. - The average number of circulating shares per shareholder decreased by 2.20% to 8,357 shares [2]. - The top circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder with 3.80 million shares, and several mutual funds with varying holdings [3].

Market Overview - The market experienced a strong upward trend with the Shanghai Composite Index rising for six consecutive days, and the Shenzhen Component Index increasing by nearly 1%. Over 4,100 stocks in the market saw gains [1] Spring Market Outlook - The spring market may unfold in two ways: first, capital may rush in to buy on dips, leading to a generally strong market; second, if incremental capital is exhausted and negative news arises, a "deep squat jump" may occur. Currently, there is a strong willingness among A-share investors to capitalize on the spring market, with limited visibility of negative factors [2] - Historical data suggests that sectors with high returns in the first half of the year may see a pullback at the end of the year, while underperforming sectors may experience a rebound. The internal demand sector is highlighted as having sufficient attractiveness and increasing win rates, supported by year-end industry allocation patterns and policies aimed at boosting domestic demand [2] Key Sectors to Watch - Focus on sectors such as insurance, brokerage, non-ferrous metals, AI computing/power semiconductors, retail/personal care/social services/dairy products, aviation, and new energy [3] North American AI Power Supply Issues - North America faces a significant power supply gap, exacerbated by the growing demand for AI Data Centers (AIDC). Traditional rapid energy replenishment methods are limited, making AIDC energy storage solutions more economically viable and quicker to deliver. The demand for AIDC energy storage is projected to increase from 9.6 GWh in 2025 to 21 GWh by 2028, with storage duration extending from 4 hours to 6-8 hours [4] - The global AIDC transformer market is expected to grow significantly, with estimates of 60 billion yuan in 2024 and 264 billion yuan in 2027, reflecting a compound annual growth rate (CAGR) of approximately 64% [4] Transformer Export Data - According to customs data, China's transformer exports totaled 579 million yuan from January to November, marking a year-on-year increase of 36%, indicating sustained high demand in the transformer export market [5] AIDC Concept Stocks - AIDC concept stocks focus on core areas such as computing infrastructure, liquid cooling, power distribution, and network equipment. Key players include: - **Core Computing and IDC Operations**: Companies like Zhongke Shuguang and Inspur Information are leading in liquid cooling and AI server markets [6] - **Liquid Cooling Technology**: Companies such as Yingweike and Qiu Tianwei are key suppliers in the liquid cooling sector, catering to AI server needs [7] - **Power Distribution and Storage**: Companies like Zhongheng Electric and Kehua Data are positioned to meet AIDC power supply demands [8] - **Network and Server Support**: Companies such as Xinyi Sheng and Zhongji Xuchuang are critical suppliers for AI computing network transmission [8]

Group 1: Company Performance - As of September 30, 2025, the company achieved a revenue of 722 million yuan, representing a year-on-year growth of 54.74% [2] - The net profit attributable to the parent company for the same period was 152 million yuan, showing a significant increase of 113.85% year-on-year [2] - Cumulative cash dividends distributed by the company since its A-share listing amount to 99.35 million yuan [3] Group 2: Shareholder and Financing Information - The number of shareholders increased to 21,000, up by 22.56% compared to the previous period [2] - The average number of circulating shares per shareholder decreased by 2.20% to 8,357 shares [2] - As of December 23, 2023, the total margin financing and securities lending balance for the company was 502 million yuan, accounting for 5.68% of its market capitalization [1]

率会延续结构性复苏趋势，后期需要密切关注存储价格变化、AI持续性投资、需求复苏的持续性力 度。 2025年AI呈现从云服务器到端侧的全面共振，AI在短期或存在投资过热等分歧，但长期高速增长趋势 不容置疑，可以长期持续关注AI服务器、AI端侧应用等产业链机遇。全球随着ChatGPT的问世，AI进入 到一个全新的发展阶段。AI产业快速增长，带动了诸多例如算力芯片、光模块、PCB、高端存储等多个 上游产业快速发展，我国部分企业充分享受AI时代高速发展与国产替代加速发展的红利。短期内全球 存在AI投资过热的分歧，但长期增长趋势不改。AI云端的高速发展，同时也带动了端侧的创新，AI赋 能新产品，带动了零组件的升级，AIOT进入到一个可以持续创新迭代的阶段。我们认为长期来看，AI 不仅给我们的生产、生活带来降本增效的功能，而且还给我们的生活 带来新的感受、体验、便捷，开创了诸多新的需求。建议关注AI服务器与AI端侧的长期发展机遇。 面对海外市场管制的压力，我国半导体产业加速发展的决心不可动摇，国产化进程的加速更离不开上游 设备、零组件、材料的升级换代，我国上游产业链或迎来加速发展机遇。我国目前是全球晶圆厂产能最 大的经济 ...

证券日报网讯12月16日，炬芯科技在互动平台回答投资者提问时表示，公司芯片的销售模式主要为客户 下单后，交付给指定加工厂或ODM厂商，最终集成在AIoT终端产品后整机进行销售。 ...

Group 1 - The core point of the article is that Juchip Technology Co., Ltd. plans to use up to RMB 4.5 billion of temporarily idle raised funds and RMB 16 billion of temporarily idle self-owned funds for cash management, with a usage period of 12 months from the board's approval [2] - The company will strictly adhere to compliance requirements, investing idle raised funds in high-security and high-liquidity products such as time deposits and structured deposits, and will not use these funds for pledging or securities investment [2] - The cash management is expected to enhance the efficiency of fund usage and increase returns for shareholders, while not affecting the progress of fundraising projects or daily operations [2] Group 2 - According to industry experts, the core of using idle raised funds for financial management is compliance, requiring board approval and adherence to specific regulations [3] - Juchip Technology's raised funds are primarily directed towards upgrading smart Bluetooth audio chips and developing ultra-low-power MCUs, with any excess funds allocated for new chip development and R&D center construction [3] - The company is also planning to issue H-shares and list on the Hong Kong Stock Exchange to leverage the advantages of the international capital market for its global development strategy [3]

证券日报网讯 12月12日晚间，炬芯科技发布公告称，公司于2025年12月11日召开了第二届董事会第二 十七次会议，审议通过了《关于使用部分暂时闲置募集资金及自有资金进行现金管理的议案》。同意公 司在保证不影响募集资金使用计划正常进行的前提下，使用最高不超过人民币45，000.00万元（含）的 暂时闲置募集资金和最高不超过人民币160，000.00万元（含）的暂时闲置自有资金进行现金管理，使 用期限自董事会审议通过之日起12个月之内有效。在前述额度及期限范围内，公司可以循环滚动使用资 金。 （文章来源：证券日报） ...

申万宏源证券承销保荐有限责任公司 关于炬芯科技股份有限公司使用部分暂时闲置募集资金及 自有资金进行现金管理的核查意见 申万宏源证券承销保荐有限责任公司（以下简称"保荐机构"）作为炬芯科 技股份有限公司（以下简称"炬芯科技"或"公司"）首次公开发行股票并在科 创板上市的持续督导保荐人，根据《证券发行上市保荐业务管理办法》《上海证 券交易所科创板股票上市规则》《上海证券交易所科创板上市公司自律监管指引 第 1 号——规范运作》及《科创板上市公司持续监管办法（试行）》等有关规定， 对炬芯科技使用部分暂时闲置募集资金及自有资金进行现金管理的事项进行了 审慎核查，具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意炬芯科技股份有限公司首次公开发 行股票注册的批复》（证监许可〔2021〕3301 号）批复，同意公司首次公开发 行股票的注册申请。并经上海证券交易所同意，公司首次向社会公众公开发行人 民币普通股（A 股）股票 3,050 万股，发行价格为每股人民币 42.98 元，募集资 金总额为人民币 131,089.00 万元，扣除各项发行费用（不含增值税）人民币 11,602.39 万元后，实际募 ...

证券代码：688049 证券简称：炬芯科技 公告编号：2025-075 炬芯科技股份有限公司 关于使用部分暂时闲置募集资金及自有资金 进行现金管理的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 炬芯科技股份有限公司（以下简称"公司"）于 2025 年 12 月 11 日召开了第 二届董事会第二十七次会议，审议通过了《关于使用部分暂时闲置募集资金及自 有资金进行现金管理的议案》。同意公司在保证不影响募集资金使用计划正常进 行的前提下，使用最高不超过人民币 45,000.00 万元（含）的暂时闲置募集资金 和最高不超过人民币 160,000.00 万元（含）的暂时闲置自有资金进行现金管理， 使用期限自董事会审议通过之日起 12 个月之内有效。在前述额度及期限范围内， 公司可以循环滚动使用资金。现将具体情况公告如下： 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意炬芯科技股份有限公司首次公开 发行股票注册的批复》（证监许可〔2021〕3301 号）批复，同意公司首次公开 发行股票的注册申请。并经上海证券交易所 ...

Core Viewpoint - The company, Juchip Technology (688049.SH), has approved a proposal to utilize part of its temporarily idle raised funds and self-owned funds for cash management, ensuring that it does not affect the normal use of the raised funds [1] Group 1 - The company will use up to RMB 45,000 million of temporarily idle raised funds for cash management [1] - The company will also use up to RMB 160,000 million of temporarily idle self-owned funds for cash management [1] - The usage period for these funds is valid for 12 months from the date of the board's approval [1] Group 2 - The company is allowed to use the funds in a rolling manner within the approved limits and time frame [1]