证券代码：688605 证券简称：先锋精科 公告编号：2026-002 江苏先锋精密科技股份有限公司 第二届董事会第四次会议决议公告 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、准确性和完整性承担法律责任。 一、董事会会议召开情况 江苏先锋精密科技股份有限公司（以下简称"公司"）第二届董 事会第四次会议（以下简称"本次会议"）于 2026 年 1 月 27 日以现 场结合通讯方式召开。本次会议为临时会议，公司已提前以电子邮件 方式通知全体董事。本次会议应到董事 9 人，实到董事 9 人（其中非 独立董事 5 人，独立董事 3 人，职工代表董事 1 人）。本次会议由董 事长游利先生主持，会议的召集、召开程序、内容符合《中华人民共 和国公司法》（以下简称"《公司法》"）和《江苏先锋精密科技股 份有限公司章程》（以下简称"《公司章程》"）的规定，会议合法 有效。 二、董事会会议审议情况 经与会董事认真讨论研究，会议作出如下决议： （二）审议通过《关于公司为全资子公司银行贷款提供担保的议 案》 为满足公司全资子公司靖江先捷航空零部件有限公司（以下简称 "靖江先 ...

Group 1 - The core point of the news is that Jiangsu Pioneer Precision Technology Co., Ltd. has seen a stock price increase of 5.11%, reaching 72.96 CNY per share, with a trading volume of 355 million CNY and a turnover rate of 4.63%, resulting in a total market capitalization of 14.766 billion CNY [1] - The company specializes in the precision manufacturing of key components for semiconductor etching and thin film deposition equipment, with its main business revenue composition being: process components 71.38%, structural components 19.61%, other components 3.83%, modules 3.79%, surface treatment 0.83%, and others 0.56% [1] Group 2 - Among the top ten circulating shareholders of Pioneer Precision, the Noan Growth Mixed A Fund (320007) holds 649,800 shares, unchanged from the previous period, representing 1.61% of the circulating shares, with an estimated floating profit of approximately 2.3068 million CNY [2] - The Noan Growth Mixed A Fund was established on March 10, 2009, with a latest scale of 14.102 billion CNY, achieving a year-to-date return of 11.82% and a one-year return of 50.89% [2]

Group 1 - The core index of the Sci-Tech Innovation Chip Design fell on January 26, with the Tianhong ETF (589070) tracking this index experiencing a 1.31% decline during intraday trading, with a transaction volume of 104 million yuan [1] - Among the constituent stocks, Chipone Technology, Dongxin Technology, and New Horizon Microelectronics saw increases of over 5%, while companies like CanSemi, Chengdu Huami, Longxin Zhongke, and others dropped by more than 5% [1] - The Tianhong ETF saw a net inflow of over 26 million yuan yesterday, indicating investor interest despite the index decline [1] Group 2 - According to Zhongyin International, the Chinese semiconductor chip industry, although starting late and only one-tenth the size of the U.S. market, is in a critical growth phase, supported by strong policies, explosive downstream market demand, and continuous technological breakthroughs [2] - The industry is expected to replicate the growth trajectory of other advantageous sectors over the next decade, presenting significant market capitalization growth potential, although careful selection of investment targets is necessary due to the evolving competitive landscape [2] - Institutions like Industrial Securities and Dongwu Securities emphasize that the "AI+" top-level design is crucial for achieving technological self-reliance, with Sci-Tech Innovation chips being fundamental resources for the AI industry, driven by domestic production and AI application surges [2]

Core Viewpoint - Kangxi Communication has achieved a preliminary victory against Skyworks, with the U.S. International Trade Commission (ITC) ruling that Kangxi did not infringe on Skyworks' patents, highlighting the capability of Chinese companies to compete with industry giants [2][4]. Group 1: Legal Dispute Overview - The legal conflict between Kangxi Communication and Skyworks began in May 2024 when Skyworks filed a lawsuit claiming patent infringement related to Wi-Fi RF front-end modules [3]. - Skyworks requested damages up to three times its losses and sought a market injunction against Kangxi Communication [3]. - Following the ITC's preliminary ruling, Kangxi Communication was found not to have violated any of the five patents claimed by Skyworks [4]. Group 2: Financial Implications - Kangxi Communication incurred significant legal expenses, totaling approximately 38.84 million yuan in 2024 and an additional 50.59 million yuan in the first three quarters of 2025, bringing total legal costs close to 100 million yuan [6][8]. - Despite revenue growth to 520 million yuan in 2024, Kangxi reported a loss of 76 million yuan due to high litigation costs [6]. Group 3: Market Position and Strategy - Kangxi Communication's primary market focus is not the U.S., with most sales in Hong Kong and Taiwan, and less than 5% in other overseas markets [5]. - The initial ruling has alleviated concerns among European and Southeast Asian customers, potentially boosting exports to the U.S. market [5]. Group 4: Industry Context - The semiconductor industry is witnessing increasing patent litigation, with Kangxi Communication not being the only Chinese company facing such challenges [9][10]. - The competitive landscape is dominated by foreign firms like Skyworks and Qorvo, which hold a significant market share and a vast number of patents compared to Chinese companies [10]. - Kangxi Communication and other Chinese firms are ramping up R&D investments, with Kangxi's R&D spending increasing by 70% to 107 million yuan in 2024 [10]. Group 5: Future Outlook - The outcome of the ITC's final ruling, expected in May 2026, will significantly impact the ongoing litigation in California [4]. - The preliminary victory serves as a positive case for other Chinese tech companies facing international patent disputes, challenging the stereotype of weak patent capabilities [11].

Core Viewpoint - The article discusses the performance of various sectors in the TMT (Technology, Media, and Telecommunications) industry, highlighting both the leading and lagging segments, as well as significant developments in the semiconductor and AI sectors. Domestic News / Part 02 - The semiconductor investment alliance, Fuman Micro, announced a price adjustment for LED display products, increasing prices by no less than 10% starting January 19, 2026 [1] - MCA Mobile Alliance reported that Kangxi Communication and its subsidiaries did not violate U.S. patent laws regarding Skyworks Solutions, Inc. [1] - SEMI noted that Fujian Jingxu Semiconductor's second-phase project is nearing completion with a total investment of 1.68 billion yuan, establishing the world's first production line for ultra-wide bandgap semiconductor high-frequency filter chips, expected to achieve an annual capacity of 400kk and generate around 1 billion yuan in output value [1] - Nanya Technology announced two equipment acquisition deals totaling over 3.3 billion New Taiwan dollars, marking a significant step in its expansion plans [1] Overseas News / Part 03 - According to South Korean customs data, the country's semiconductor imports reached $77.5 billion last year, a 4.9% increase year-on-year, driven by surging demand from artificial intelligence [2] - Omdia reported that global telecom operators are increasing capital investments in AI infrastructure to meet rising AI computing demands and local sovereignty requirements [2] - TrendForce projected a 14.8% decline in global laptop shipments in Q1 2026 due to a temporary CPU supply shortage and rising component costs [2] - Intel showcased a "Thick Core" glass substrate design aimed at the high-performance computing and AI server markets, marking a significant innovation in chiplet interconnect technology [2] AI News / Part 04 - Tencent launched a new feature "Yuanbao Pai" for its AI assistant "Yuanbao," focusing on AI social interactions [3] - MiniMax released the M2-her large language model designed for immersive role-playing and expressive multi-turn dialogues [3] - Yingmou Technology introduced the Rodin Gen-2 "Edit" model for 3D asset modification, claiming to be the first true 3D AI generation editing platform [3] - Tencent's mixed Yuan team released the mixed image model 3.0, featuring 80 billion parameters and supporting various visual creation functions [3] Industry Tracking / Part 05 - Blue Origin announced its large-scale satellite communication constellation plan "TeraWave," which includes 5,280 LEO satellites and 128 MEO satellites [4] - The first domestic humanoid diagnostic robot integrating non-invasive brain-computer interface technology was unveiled, suitable for rehabilitation scenarios [4] - By 2025, over 35,000 basic-level and 15 leading smart factories are expected to be established as part of the digital transformation of the manufacturing industry [4] - Midea Weiling launched a new generation of high-precision joint module products, focusing on core types for humanoid robots [4] High-Frequency Data Updates / Part 07 - The international DRAM spot prices for January 26 showed no significant changes in DDR5 and DDR4 memory prices, with DDR5 16G averaging $36.667 and DDR4 16Gb averaging $78.750 [6] - Semiconductor material prices from Baichuan Yingfu indicated stable pricing for various high-purity metals and substrates, with no daily changes reported [7]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index (950125) decreased by 3.27% as of January 26, 2026, with major component stocks like Tianyue Advanced leading the decline at 9.12% [1] - The China Securities Semiconductor Materials and Equipment Theme Index (931743) fell by 3.66%, with Zhichun Technology dropping 9.99% [1] - The liquidity of the Sci-Tech Semiconductor ETF (588170) was active, with a turnover rate of 13.63% and a transaction volume of 1.093 billion yuan [1] Group 2 - Shen Gong Co., Ltd. (688233.SH) announced an expected net profit for 2025 of 90 million to 110 million yuan, representing a year-on-year growth of 118.71% to 167.31% [2] - The global semiconductor market is recovering, driven by AI demand, leading to increased capital expenditure and steady growth in the company's large-diameter silicon materials business [2] - The domestic market in China is accelerating the pace of domestic substitution, with increased demand for key consumables from local storage chip manufacturers [2] Group 3 - The Sci-Tech Semiconductor ETF (588170) tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index, focusing on semiconductor equipment (60%) and materials (25%) [3] - The semiconductor equipment and materials industry is a significant area for domestic substitution, benefiting from low domestic substitution rates and high potential for growth [3] - The Huaxia Semiconductor Equipment ETF (562590) also focuses on semiconductor equipment (63%) and materials (24%), emphasizing the upstream semiconductor sector [3]

Core Viewpoint - The preliminary victory of Kangxi Communication against Skyworks demonstrates that Chinese companies can compete with industry giants and meet international standards [1] Group 1: Legal Dispute Overview - Kangxi Communication announced on January 25, 2026, that the U.S. International Trade Commission (ITC) ruled that it did not infringe on Skyworks' patents [1][4] - The legal conflict began in May 2024 when Skyworks filed a lawsuit against Kangxi Communication for patent infringement, claiming that some of its Wi-Fi RF front-end module products violated five of its patents [3][4] - Following the lawsuit, Skyworks requested an ITC investigation under Section 337 of the Tariff Act of 1930, which led to a formal investigation [3] Group 2: ITC Preliminary Ruling - On January 24, 2026, Kangxi Communication learned that the ITC's preliminary ruling found no infringement on two of Skyworks' patents, and three other patents were withdrawn by Skyworks during the evidence disclosure phase [4][5] - This ruling indicates that Kangxi Communication did not infringe on any of the five patents claimed by Skyworks [4] Group 3: Financial Implications - Kangxi Communication incurred significant legal expenses, spending approximately 38.84 million yuan in 2024 and an additional 50.59 million yuan in the first three quarters of 2025, bringing total legal costs close to 100 million yuan [8][10] - Despite revenue growth to 520 million yuan in 2024, Kangxi Communication reported a loss of 76 million yuan due to high litigation costs [8] Group 4: Market Context and Competitive Landscape - The RF chip market is dominated by foreign companies, with Skyworks and Qorvo holding over half of the market share [5] - Skyworks' major clients include Apple, which is seeking alternative suppliers, putting pressure on Skyworks' performance [5] - Kangxi Communication primarily focuses on markets in Hong Kong and Taiwan, with less than 5% of sales from other overseas markets [5] Group 5: Broader Industry Implications - The preliminary ruling has alleviated concerns among European and Southeast Asian customers regarding Kangxi Communication's products, providing legal support for exports to the U.S. market [6] - The ongoing patent litigation reflects a broader trend where Chinese semiconductor companies face increasing patent lawsuits as they expand internationally [12][13] - The need for Chinese companies to build their own intellectual property barriers is emphasized, as litigation costs can significantly hinder growth and internationalization efforts [13]

Core Viewpoint - On January 25, 2026, Kangxi Communication announced that its subsidiary, Kangxi Communication Technology (Shanghai) Co., Ltd., GRANDCHIPLABS, INC., and related enterprises did not infringe on Skyworks' patent rights according to the preliminary ruling by the U.S. International Trade Commission [1] Group 1 - Skyworks, a leading company in the RF chip industry, filed an investigation request with the U.S. International Trade Commission in 2024, claiming that Kangxi Communication's subsidiary and related companies manufactured and exported specific RF front-end modules and downstream products that infringed on five of its patents [1]

（文章来源：证券日报） 证券日报网讯 1月22日，先锋精科在互动平台回答投资者提问时表示，航天零部件表处的目的主要是为 了增强其耐腐蚀、抗磨损、抗侵蚀等性能。公司目前主要与九天行歌开展合作，也密切关注商业航天领 域的市场发展和动态，正在拓展、洽谈商业航天领域的其他客户，以获得更多业务增长空间。 ...

格隆汇1月22日丨先锋精科(688605.SH)在投资者互动平台表示，公司目前主要与九天行歌开展合作，也 密切关注商业航天领域的市场发展和动态，正在拓展、洽谈商业航天领域的其他客户，以获得更多业务 增长空间。 ...