证券代码：603929 证券简称：亚翔集成 公告编号：2025-043 亚翔系统集成科技（苏州）股份有限公司 关于召开2025年第二次临时股东大会的通知 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、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第二次临时股东大会 召开的日期时间：2025 年 11 月 18 日 13 点 30 分 召开地点：苏州工业园区方达街 33 号公司会议室 本次股东大会审议议案及投票股东类型 股东大会召开日期：2025年11月18日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合 的方式 (四) 现场会议召开的日期、时间和地点 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 11 月 18 日 至2025 年 11 月 18 日 采用上海证券交易所网络投票系统 ...

本公司监事会及全体监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 和完整性承担法律责任。 一、监事会会议召开情况 证券代码：603929 证券简称：亚翔集成 公告编号：2025-039 亚翔系统集成科技（苏州）股份有限公司 关于第六届监事会第十次会议决议的公告 亚翔系统集成科技（苏州）股份有限公司（以下简称"公司"） 第六届监事会第十次会议于 2025 年 10 月 21 日以书面方式发出会议 通知和会议材料，并于 2025 年 10 月 30 日以现场及通讯会议方式召 开。本次监事会会议应到监事三名，实到监事三名,符合《公司法》 和《公司章程》的规定。会议由监事会主席王富琳先生主持。本次会 议的召开符合《公司法》、《上海证券交易所股票上市规则》等有关法 律、行政法规、部门规章、规范性文件和《公司章程》的规定。会议 决议合法有效。会议经认真审议，情况如下： 监事会保证公司 2025 年第三季度报告所载资料不存在任何虚假 记录、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 整性承担个别及连带责任。 季报具体内容详见同日披露的《亚翔集成—公司 2025 年第三 ...

关于第六届董事会第十次会议决议的公告 本次会议的召开符合《公司法》、《上海证券交易所股票上市规则》等有 关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。会议决 议合法有效。 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、准确性和完整性承担个 别及连带责任。 一、董事会会议召开情况 证券代码：603929 证券简称：亚翔集成 公告编号：2025-038 亚翔系统集成科技（苏州）股份有限公司（以下简称"公司"）第六届 董事会第十次会议于2025年10月21日以书面方式发出会议通知和会议材料， 并于 2025 年 10 月 30 日以现场及通讯的方式召开。本次会议应出席会议董事 9 名，实际出席会议董事 9 名。 亚翔系统集成科技（苏州）股份有限公司 3、审议通过《关于修订、制定公司部分治理制度的议案》； 表决结果：赞成 9 票；反对 0 票；弃权 0 票。 本议案涉及的部分管理制度尚需提交公司 2025 年度第二次临时股东大会 审议。 二、董事会会议审议情况 1、审议通过《公司 2025 年第三季度报告的议案》； 表决结果：赞成 9 票；反对 0 ...

亚翔系统集成科技（苏州）股份有限公司 2025 年第三季度报告 证券代码：603929 证券简称：亚翔集成 亚翔系统集成科技（苏州）股份有限公司 2025 年第三季度报告 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、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 1,425,418,098. ...

南财智讯10月30日电，亚翔集成公告，公司董事会于2025年10月30日收到董事兼COO运营长吕信宏先 生的书面辞职报告。吕信宏先生由于个人原因，提请辞去公司第六届董事会董事及COO运营长职务。 吕信宏先生将不再担任公司任何职务，其辞职行为自公司董事会收到该书面辞职报告之日起生效。 ...

Core Viewpoint - Domestic mid-to-high-end cleanroom engineering companies are expected to benefit from capital expenditure expansion driven by domestic substitution processes and are likely to seize overseas market opportunities, particularly in Southeast Asia, leading to a new growth cycle and improved profit margins [1][3]. Group 1: Cleanroom Engineering Overview - Cleanroom engineering is a foundational engineering aspect of advanced manufacturing, with the IC semiconductor sector being the primary application area for high-end cleanrooms [2]. - Cleanrooms provide controlled, clean environments for product manufacturing, serving high-tech industries such as integrated circuits, new displays, life sciences, and food and pharmaceuticals [2]. - The capital expenditure for cleanroom engineering in integrated circuit manufacturing accounts for 5-10% of total spending, indicating significant investment potential [2]. Group 2: Global Demand and Market Trends - Global demand for mid-to-high-end cleanroom engineering is expected to grow, driven by capital expenditure expansion in AI and HPC applications [3]. - According to SEMI's July 2025 forecast, global semiconductor equipment sales are projected to reach $125.5 billion and $138.1 billion in 2025 and 2026, respectively, reflecting a year-on-year growth of 6% and 10% [3]. - The U.S. market is anticipated to see accelerated capital expenditure growth due to manufacturing reshoring and supportive chip policies, while Southeast Asia is expected to become a major growth market due to industry chain development and capacity transfer investments [3]. Group 3: Domestic Companies and Overseas Expansion - Leading domestic cleanroom engineering companies are expanding overseas, with international business becoming a new growth point and potentially higher profit margins [4]. - The global mid-to-high-end cleanroom engineering market is concentrated, with high entry barriers due to large investment scales, short project implementation cycles, and low tolerance for errors [4]. - Domestic companies are accelerating their overseas expansion, particularly in Southeast Asia, where early movers like Yaxin Integration and Shenghui Integration have seen over half of their revenue come from international operations by mid-2025 [4].

Investment Rating - The industry rating is "Outperform the Market" (maintained rating) [5] Core Insights - Infrastructure investment showed weakness in September, but the fourth quarter may benefit from increased funding and policy catalysts. The report highlights the importance of infrastructure as a stabilizing measure for the economy, with a focus on undervalued, high-dividend construction stocks [1][2] - The real estate sector saw a decline in sales area by 5.5% year-on-year from January to September, with a significant drop of 21.3% in September alone. However, the completion rate for real estate projects turned positive for the first time since 2024, indicating a potential recovery [2] - Cement demand is gradually weakening, with a production drop of 5.2% year-on-year from January to September. The report suggests that cement companies may seek to optimize supply and increase prices to recover profitability [3] - The flat glass market showed signs of improvement in September, with a slight increase in demand. However, overall production still declined by 5.2% year-on-year, and inventory levels have risen significantly [4] Summary by Sections Infrastructure Investment - Infrastructure investment from January to September showed a year-on-year increase of 1.1%, but September alone saw a decline of 4.7%. The report anticipates a recovery in the fourth quarter due to early fiscal funding and new policy financial tools [1][2] Real Estate Sector - Real estate sales area decreased by 5.5% year-on-year from January to September, with a notable drop of 11.9% in September. New construction area fell by 18.9% year-on-year, while completion area saw a slight increase in September, marking the first positive growth since 2024 [2] Cement Industry - Cement production from January to September was 1.259 billion tons, down 5.2% year-on-year. The average shipment rate was 41.3%, a decrease of 2.6 percentage points year-on-year. The report indicates that cement companies are likely to push for price increases to enhance profitability [3] Glass Industry - Flat glass production from January to September was 72.881 million weight cases, down 5.2% year-on-year. The report notes a slight improvement in demand in September, but overall inventory levels have increased significantly, indicating potential challenges ahead [4]

Group 1 - The core point of the article highlights a significant block trade involving Yaxiang Integration, with 60,000 shares traded at a price of 34.63 yuan, representing a discount of 11.48% compared to the market closing price of 39.12 yuan [1] - The total transaction amount for this block trade was 2.0778 million yuan, accounting for 2.77% of the total trading volume on that day [1] - The trade was executed on October 23, 2025, indicating a notable market activity for Yaxiang Integration [2]

Investment Rating - The investment rating for the cleanroom industry is "Positive" and maintained [11] Core Viewpoints - The cleanroom sector is currently in a phase of marginal improvement, with ongoing domestic and international project releases, leading to a potential acceleration in orders for related companies and sustained growth in performance [3][32] Summary by Sections Upstream Equipment - Air filtration systems, including various types of filters and purification devices, are critical solutions designed for semiconductor clients. Major international brands include AAF and Camfil, while domestic players include Meier Technology and Youyuan Environment [7][35] - The global AMHS (Automated Material Handling System) market accounts for approximately 3% of the semiconductor equipment total, with expectations for the Chinese AMHS market to exceed 10 billion yuan by 2025. The market has been historically dominated by Japanese companies Daifuku and Murata Machinery, which hold over 90% market share [7][47][49] Cleanroom Engineering - The competitive landscape for cleanroom engineering is stable, with leading design and general contracting firms such as Shiyi Technology and Shiyuan Technology establishing strong market positions. Shiyi Technology has unique expertise in high-level purification systems for semiconductor and biopharmaceutical environments [8][52] - Major players in the cleanroom engineering subcontracting market include Shen Sanda A, Shenghui Integration, and Yaxiang Integration, all of which have significant market shares and experience in high-end cleanroom projects [8][65] Downstream Capital Expenditure - Since mid-2022, companies like Shenghui and Yaxiang have seen significant stock price increases, driven by growth in semiconductor projects. Shenghui's uncompleted project scale reached 47 billion yuan, a 44% increase, while Yaxiang's cumulative orders surged to 208.49 billion yuan, with 63% from semiconductors [9][88] - The cleanroom industry is expected to benefit from ongoing overseas expansions in Southeast Asia and North America, as well as domestic projects driven by local replacements. Key projects include the Shanghai Xinpux Tianying project and the AMOLED 8.6 generation line by Visionox [10][60]

Summary of Key Points from Conference Call Records Industry Overview - The conference call primarily discusses the **non-ferrous metals industry** and its strategic planning under the "15th Five-Year Plan" (2026-2030) in China, focusing on resource security, technological innovation, and market optimization [1][2][4][5]. Core Insights and Arguments 1. **Resource Security and Development**: - The non-ferrous metals industry will enhance resource security by increasing domestic reserves and integrating resources, especially for strategic minerals like copper, cobalt, and nickel, where foreign dependency is projected to remain above 50% to 70% [2][5]. - China ranks 53rd globally in per capita proven reserves of major minerals, with half of its 30 key mineral resources below the world average in terms of reserves [2]. 2. **Technological Innovation**: - Technological innovation is identified as the core driver for high-quality development, focusing on domestic production of high-end materials to overcome foreign technology blockades [1][4]. - Key areas for innovation include AI chip optical modules, solid-state battery materials, magnesium alloys for humanoid robots, and titanium alloys for aerospace applications [1][4]. 3. **Market Structure Optimization**: - The "15th Five-Year Plan" aims to optimize the non-ferrous metals industry structure through market-oriented and legal measures, addressing overcapacity in sectors like copper and lithium smelting [1][4][5]. - The plan emphasizes integrated operations and green low-carbon development to enhance efficiency and sustainability [1][4]. 4. **Export Control and Global Positioning**: - In response to geopolitical tensions, China may strengthen export controls on rare metals to enhance negotiation power and participate in global governance of dual-use items [1][4][5]. - The strategy aims to transition from being a resource power to a rule-making power, enhancing global pricing power for rare metals [5]. Additional Important Insights 1. **Investment Opportunities**: - Companies with strong metal resource reserves, such as Zijin Mining, are expected to benefit from increased mineral resource development [6]. - The digital economy and AI advancements will favor companies involved in high-end new materials, such as Putailai, and those positioned in the lithium supply chain, like Ganfeng Lithium [6]. - The green transition in industries like aluminum may benefit leading companies such as China Aluminum [6]. 2. **Electric Power Industry Developments**: - The electric power sector is set to establish a unified national market by 2029, enhancing various service mechanisms and improving transaction efficiency [12][13]. - By 2030, coal-fired power generation is expected to account for 30% of installed capacity, down from current levels, with a shift towards auxiliary services and capacity compensation as key revenue sources [9][10]. 3. **Clean Energy Growth**: - By 2030, renewable energy installations are projected to reach 3 billion kilowatts, representing 60% of total capacity, with significant growth opportunities in solar and wind energy [10][13]. 4. **Urban Renewal and Construction Industry**: - Urban renewal initiatives will focus on improving living conditions and infrastructure, with a projected urbanization rate exceeding 70% by the end of the "15th Five-Year Plan" [20]. - The construction industry is expected to leverage AI and digital technologies to enhance efficiency and safety in building projects [18][24]. 5. **Challenges and Future Directions**: - The non-ferrous metals industry faces challenges such as overcapacity and the need for technological upgrades, which will be addressed through strategic planning and investment in innovation [37][39]. - The construction sector will focus on high-quality development, digital transformation, and international expansion to adapt to changing market dynamics [42][43]. This summary encapsulates the key points discussed in the conference call, providing insights into the strategic direction and investment opportunities within the non-ferrous metals and related industries in China.