证券代码：688141 证券简称：杰华特 公告编号：2026-001 杰华特微电子股份有限公司 关于重新向香港联合交易所有限公司递交H股发行及 上市的申请并刊发申请资料的公告 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。 杰华特微电子股份有限公司（以下简称"公司"）正在进行申请境外发行 股份（H股）并在香港联合交易所有限公司（以下简称"香港联交所"）主板 上市（以下简称"本次发行"）的相关工作。公司已于2025年5月30日向香港 联交所递交了本次发行的申请，并在香港联交所网站刊登了本次发行的申请资 料。 根据公司本次发行的时间安排及香港联交所的相关规定，公司已于2026 年1月13日向香港联交所重新递交了本次发行的申请，并于同日在香港联交所 网站刊登了相关更新文件。该申请材料为公司按照香港联交所及香港证券及期 货事务监察委员会的要求编制和刊发，为草拟版本，其所载资料可能会适时作 出更新及修订，投资者不应根据其中的资料作出任何投资决定。 鉴于本次发行的认购对象仅限于符合相关条件的境外投资者及依据中国 相关法律法规有权进行境 ...

Group 1 - The core point of the article is that Jiewa Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor [1] - Jiewa is a manufacturer operating under a virtual integrated device model, focusing on the research and development of analog integrated circuits [1] - The company previously submitted a listing application to the Hong Kong Stock Exchange on May 30, 2025 [1]

Group 1 - The core point of the article is that Jiewa Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - Jiewa is an analog integrated circuit design company that operates under a virtual integrated device manufacturing model, focusing on the research and development of analog integrated circuits [1] Group 2 - The company previously submitted a listing application to the Hong Kong Stock Exchange on May 30, 2025 [1] - The application includes details about the number of H-shares to be issued, which is contingent upon certain conditions [2] - The face value of each H-share is set at RMB 1.00 [2]

Core Viewpoint - Jiewa Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor, indicating a strategic move to enhance its market presence and capital access [1]. Group 1: Company Overview - Jiewa Technology is a manufacturer operating under a virtual integrated device model, focusing on the research and development of analog integrated circuits [1]. Group 2: Listing Details - The company previously submitted a listing application to the Hong Kong Stock Exchange on May 30, 2025 [1]. - The face value of each H share is set at RMB 1.00 [3].

Group 1 - The core point of the article is that Jiewa Microelectronics Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the exclusive sponsor [1] Group 2 - The company is taking steps towards going public, indicating potential growth and expansion in the semiconductor industry [1] - The involvement of CITIC Securities as the exclusive sponsor suggests a strong backing and confidence in the company's market potential [1]

Investment Strategy - The report emphasizes focusing on FAB and storage manufacturers that are expanding production and the recovery cycle of analog chips [3] - Longxin plans to raise 29.5 billion yuan, while SMIC Southern will receive a total cash contribution of 7.778 billion USD from shareholders [3] - Recommended companies include SMIC, Hua Hong Semiconductor, Zhongwei Company, and others [3] Market Trends - Microchip CEO noted a broad recovery in multiple end markets, with initial orders for the new quarter significantly better than the same period last year [3] - The storage demand is driven by AI, with prices still in an upward cycle; TrendForce predicts a 55-60% increase in general DRAM contract prices for Q1 2026 [3][30] Company Performance - The semiconductor index rose by 4.47% in December 2025, underperforming the electronics sector by 0.69 percentage points but outperforming the CSI 300 index by 2.19 percentage points [8] - Notable stock performances included Micron Technology (+20.74%) and Microchip Technology (+18.92%) [10] Semiconductor Sales Data - Global semiconductor sales reached 75.28 billion USD in November 2025, marking a year-on-year increase of 29.8% [26] - China’s semiconductor sales accounted for 26.9% of the global total, with a year-on-year growth of 15% [36] Price Trends in Storage - DRAM and NAND Flash contract prices increased in November, with DRAM prices rising from 7.00 USD to 8.10 USD and NAND Flash prices from 5.19 USD to 4.35 USD [30] - Predictions indicate a 55-60% increase in general DRAM contract prices and a 33-38% increase in NAND Flash prices for Q1 2026 [30][32]

香港聯合交易所有限公司及證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分內容而產生或因依賴該等內容而引 致的任何損失承擔任何責任。 JOULWATT TECHNOLOGY CO., LTD. 杰華特微電子股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監 會」）的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件， 即代表 閣下知悉、接納並向本公司、本公司的獨家保薦人、整體協調人、顧問及包銷團成員 表示同意： 倘在適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據於香港公司註冊處處長 註冊的本公司招股章程作出投資決定。招股章程副本將於發售期間向公眾發放。 (a) 本文件僅向香港公眾人士提供有關本公司的資料，概無任何其他目的。投資者不應根據 本文件中的資料作出任何投資決定； (b) 在聯交所網站登載本文件或其補充、修訂或更 ...

2026年01月12日 证券研究报告 | 半导体1月投资策略： 关注FAB和存储大厂扩产链及周期复苏的模拟芯片 行业研究 · 行业投资策略 电子 · 半导体 投资评级：优于大市（维持） 证券分析师：胡剑 证券分析师：胡慧 证券分析师：张大为 证券分析师：詹浏洋 证券分析师：李书颖 S0980521080001 S0980521080002 S0980524100002 S0980524060001 S0980524090005 021-60893306 021-60871321 021-61761072 010-88005307 0755-81982362 hujian1@guosen.com.cn huhui2@guosen.com.cn zhangdawei1@guosen.com.cn zhanliuyang@guosen.com.cn lishuying@guosen.com.cn 请务必阅读正文之后的免责声明及其项下所有内容 关注FAB和存储大厂扩产链及周期复苏的模拟芯片 l 12月SW半导体指数上涨4.47%，估值处于2019年以来80.92%分位 2025年12月SW半导体指数上涨4.47%，跑 ...

Group 1 - The core viewpoint of the news is that Jiewate Microelectronics Co., Ltd. has shown significant stock performance and growth in revenue, indicating a positive market sentiment and potential investment opportunity [1][2]. Group 2 - As of January 9, Jiewate's stock price increased by 2.04%, reaching 50.08 CNY per share, with a total market capitalization of 22.55 billion CNY [1]. - The company has experienced a year-to-date stock price increase of 15.31%, with a 29.54% rise over the past 20 days [1]. - Jiewate's main business involves the research and sales of analog integrated circuits, with power management chips accounting for 93.09% of its revenue [2]. - The company reported a revenue of 1.942 billion CNY for the first nine months of 2025, reflecting a year-on-year growth of 63.01% [2]. - The number of shareholders increased by 12.90% to 12,400 as of September 30, 2025 [2]. - The top ten circulating shareholders include notable funds, with changes in holdings indicating shifts in institutional interest [3].

Group 1 - The core point of the article highlights the performance of Jiewa Technology, which saw a 5.16% increase in stock price, reaching 50.95 CNY per share, with a trading volume of 920 million CNY and a turnover rate of 4.17%, resulting in a total market capitalization of 22.944 billion CNY [1] - Jiewa Technology specializes in the research and sales of analog integrated circuits, providing high-efficiency, high-performance, and high-reliability solutions. The main revenue sources include power management chips (93.09%), with specific contributions from DC-DC chips (56.79%), AC-DC chips (20.48%), linear power chips (14.40%), signal chain chips (4.37%), and battery management chips (1.43%) [1] Group 2 - Jiewa Technology's major circulating shareholder is the Jiashi Fund, which reduced its holdings in the Jiashi SSE STAR Market Chip ETF (588200) by 283,700 shares, now holding 6.084 million shares, representing 2.31% of circulating shares. The estimated floating profit from this transaction is approximately 15.21 million CNY [2] - The Jiashi SSE STAR Market Chip ETF (588200) has a total asset size of 40.404 billion CNY, with a year-to-date return of 6.74%, ranking 184 out of 5488 in its category, and a one-year return of 81.9%, ranking 216 out of 4192 [2]