Shareholder Reductions - Fushi Holdings' shareholder Song Chunqing plans to reduce holdings by no more than 2% [1] - Yasheng Optoelectronics' director Lin Xuefeng intends to reduce holdings by no more than 0.976% [1] - Ruisheng Intelligent's shareholder Ruihe Sheng has cumulatively reduced 2% of the company's shares [1] - Jingjin Electric's shareholder Chenghui International has already reduced 1.00% of the company's shares [1] - Zhongke Feimiao's shareholder Guotou Chuangye Fund has cumulatively completed a reduction of 0.85% of the company's shares [1] - Saiwu Technology's shareholder Dongyun Chuangtou has cumulatively reduced 4.3468 million shares [1] - Huizhiwei's shareholder GZPA has reduced 4.6684 million shares [1] - Zhixin Precision's director Zhang Guojun plans to reduce holdings by no more than 1.8562% [1] - Hengtong Co., Ltd.'s shareholder Liu Zhendong plans to reduce holdings by no more than 21.4256 million shares [1] - Jingneng Thermal Power's shareholder Zhao Yibo has cumulatively reduced 3.018 million shares [1] - Lanfeng Biochemical's shareholder Hainan Wenqin has reduced 3.5648 million shares [1] - China Nuclear Construction's shareholder China Cinda has reduced 8.0354 million shares [1] - Gaiyang New Energy's shareholder Ningxia Bitai has cumulatively reduced 44.3618 million shares [1] Other Corporate Actions - Kaipu Cloud has terminated a major asset restructuring [1]

证券日报网讯2月24日，慧智微发布公告称，公司股东GZPAHoldingLimited于2025年11月27日至2026年1 月12日通过集中竞价减持4668435股，占总股本1%，减持金额53461378.22元，减持后仍持股5853169 股，占比1.25%。 ...

| 最新收盘价（元） | 12.43 | | --- | --- | | 总股本/流通股本（亿股）4.67 | / 3.25 | | 总市值/流通市值（亿元）58 | / 40 | | 52 周内最高/最低价 | 13.98 / 7.75 | | 资产负债率(%) | 18.3% | | 第一大股东 | 李阳 | 研究所 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 研究助理:陈天瑜 SAC 登记编号:S1340125090015 Email:chentianyu@cnpsec.com 慧智微(688512) 慧聚新力量，智启芯未来 l 投资要点 证券研究报告：电子 | 公司点评报告 股票投资评级 资料来源：聚源，中邮证券研究所 公司基本情况 l 投资建议 深度布局全频段射频前端领域，构建丰富完备的产品矩阵。公司 产品线布局丰富、型号齐全，产品系列覆盖 2G、3G、4G、3GHz 以下 的 5G 重耕频段、3GHz~6GHz 5G UHB 等蜂窝通信频段及 Wi-Fi 通信领 域，可提供无线通信射频前端发射模组、接收模组等产品，具备较强 的产 ...

本次减持计划实施前，GZPA Holding Limited（以下简称"GZPA"）持有广州 慧智微电子股份有限公司（以下简称"公司"）股份 10,521,604 股，占公司股份总 数的 2.25%。前述股份来源于公司首次公开发行股票并上市前持有的股份，已于 2024 年 5 月 16 日解除限售并上市流通。 证券代码：688512 证券简称：慧智微 公告编号：2026-004 广州慧智微电子股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 股东持股的基本情况 减持计划的实施结果情况 公司于 2025 年 11 月 18 日在上海证券交易所网站（www.sse.com.cn）披露 了《股东减持股份计划公告》（公告编号：2025-045）。GZPA 因自身资金需求， 计划于上述公告披露之日起 3 个交易日后的 3 个月内通过集中竞价、大宗交易的 方式减持公司股份，合计减持不超过 10,521,604 股，合计减持比例不超过公司股 份总数的 2.25%。 近日，公司收 ...

格隆汇2月24日丨慧智微(688512.SH)公布，近日，公司收到股东GZPA出具的《股份减持结果告知 函》，股东GZPA在减持计划期间内通过集中竞价方式减持公司股份466.84万股，占公司总股本的 1.00%。本次减持计划披露的减持时间区间届满。 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [8][14]. Core Insights - The company is projected to achieve revenue between 800 million to 860 million yuan in 2025, with a net loss forecasted between 235 million to 168 million yuan. The improvement in performance is attributed to product structure optimization and increased production of key products [3][4]. - The company has established a comprehensive product matrix covering various communication frequency bands, which positions it well for future market demands and enhances its competitive edge in the 5G RF front-end module market [4][5]. - The customer base includes major smartphone manufacturers such as Samsung, vivo, Xiaomi, and OPPO, which strengthens the company's market position and influence [5]. Financial Projections - Revenue forecasts for 2025, 2026, and 2027 are 820 million, 1.16 billion, and 1.49 billion yuan respectively, with net profits expected to improve from a loss of 200 million yuan in 2025 to a profit of 10 million yuan in 2027 [8][10]. - The company anticipates a significant growth rate of 57.11% in 2025, followed by 40.80% in 2026 and 28.67% in 2027 [10][11]. Market Position - The company has successfully launched its products in high-end flagship models and is expanding its presence in the IoT sector, indicating a strategic focus on diversifying its product offerings and enhancing market competitiveness [5][4]. - The report highlights the company's strong collaboration with leading wireless communication module manufacturers, which is expected to drive further growth in the 5G and IoT markets [5].

格隆汇2月13日｜有投资者在互动平台向慧智微提问：公司是否具备6G通信射频芯片的研发能力？有没 有6G通信方面的技术研发计划和项目？慧智微回复称，下一代移动通信6G技术尚未到商业化应用阶 段，公司技术目前主要应用于4G和5G领域，并随着无线通信技术演进不断优化迭代。 ...

Core Viewpoint - The company is focused on advancing its core technology in radio frequency front-end development and is committed to expanding its product offerings while ensuring smooth order deliveries and steady progress in collaboration with brand clients [1] Group 1 - The company plans to concentrate on research and development of core technologies related to radio frequency front-end through 2026 [1] - The company aims to deepen its product layout and promote mass production [1] - The company is actively seizing opportunities to supply products in collaboration with brand clients [1] Group 2 - Current orders for the company's core products are being delivered smoothly [1] - Collaborative projects with clients are progressing steadily [1] - Detailed operational information will be disclosed in the company's announcements [1]

证券日报网讯2月12日，慧智微在互动平台回答投资者提问时表示，公司高度重视人才团队建设，持续 引进优质人才充实管理团队与研发团队，通过内培外引的人才策略优化团队结构、提升核心竞争力，为 公司技术创新和业务发展提供人才支撑。 ...

证券日报网讯2月12日，慧智微在互动平台回答投资者提问时表示，公司向三星供货为正常商业合作， 目前无被三星收购股权的相关计划，相关信息请以公司法定披露公告为准。 ...