紫光国芯微电子股份有限公司 信息披露暂缓与豁免管理制度 （2025 年 8 月制定） 第四条 公司和其他信息披露义务人应当审慎确定信息披露暂缓、豁免事项， 履行内部审核程序。 第五条 本制度所称"信息披露义务人"，包括公司及其董事、高级管理人 员、股东、实际控制人，收购人，重大资产重组、再融资、重大交易有关各方等 自然人、单位及其相关人员，破产管理人及其成员，以及法律、法规和中国证监 会规定的其他承担信息披露义务的主体。 第二章 暂缓与豁免披露信息的范围 第六条 公司和其他信息披露义务人有确实充分的证据证明拟披露信息涉及 国家秘密（指国家有关保密法律、法规及部门规章规定的，关系国家安全和利益， 依照法定程序确定，在一定时间内只限一定范围的人员知悉，泄露后可能损害国 家在政治、经济、国防、外交等领域的安全和利益的信息。）或者其他因披露可 能导致违反国家保密规定、管理要求的事项（以下统称"国家秘密"），依法豁 免披露。 第七条 公司和其他信息披露义务人有保守国家秘密的义务，不得通过信息 披露、投资者互动问答、新闻发布、接受采访等任何形式泄露国家秘密，不得以 第一章 总则 第一条 为规范紫光国芯微电子股份有限公司（ ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 73.79 CNY [4][2] Core Views - The company's performance is under short-term pressure due to price reductions, but it is effectively expanding its market and product categories, indicating a positive long-term outlook [1][7] - In H1 2025, the company achieved revenue of 465 million CNY, a decrease of 23.90% year-on-year, and a net profit attributable to the parent company of 62 million CNY, down 73.03% [1] - The company is focusing on new product development and market expansion, with significant breakthroughs in new product R&D and orders [7] Financial Summary - Revenue projections for 2025 are adjusted to 1,198 million CNY, with an estimated EPS of 1.57 CNY [2] - The company expects revenue growth of 12.7% in 2025, followed by 26.0% in 2026 and 23.6% in 2027 [10] - The gross margin is projected to decline to 60.9% in 2025, with a recovery to 63.5% in 2026 and 64.4% in 2027 [10] - The net profit margin is expected to be 26.2% in 2025, improving to 30.1% in 2026 and 33.3% in 2027 [10] - The company is positioned as a leading supplier of high-reliability amplifiers in the military integrated circuit sector, benefiting from industry growth [7]

| 证券代码：002049 | 证券简称：紫光国微 | 公告编号：2025-082 | | --- | --- | --- | | 债券代码：127038 | 债券简称：国微转债 | | 紫光国芯微电子股份有限公司 第八届董事会第二十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 紫光国芯微电子股份有限公司（以下简称"公司"）第八届董事会第二十九 次会议通知于 2025 年 8 月 25 日以电子邮件的方式发出，会议于 2025 年 8 月 27 日以通讯表决的方式召开，会议应出席董事 7 人，实际出席董事 7 人。会议由董 事长陈杰先生召集并主持。公司部分高级管理人员列席了会议。会议的召集、召 开和表决程序符合《中华人民共和国公司法》和《紫光国芯微电子股份有限公司 章程》的规定。 经与会董事审议，会议形成如下决议： 具体内容详见公司于同日在巨潮资讯网（http://www.cninfo.com.cn）上披 露的《募集资金管理办法（2025 年 8 月修订）》。 2．会议以 7 票同意、0 票反对、0 票弃权的表决结果审议通过《关于制定< 信 ...

Core Insights - The article highlights a trend of decreasing shareholder accounts among 622 companies, indicating a concentration of shares among fewer investors [1][2] - Notable companies with significant declines in shareholder accounts include Unisoc Microelectronics and ZTE Corporation, with decreases of 27.88% and 16.17% respectively [1][3] - The performance of stocks with declining shareholder accounts shows mixed results, with 60 stocks increasing in price while 35 decreased, indicating potential investment opportunities [2][3] Shareholder Account Trends - A total of 622 companies reported their latest shareholder account numbers as of August 20, with 95 companies experiencing a decline for three consecutive periods or more [1] - Unisoc Microelectronics has the highest decline, with 154,193 accounts, down 27.88% over 13 periods [1][4] - ZTE Corporation has 455,100 accounts, down 16.17% over 12 periods [1][4] Stock Performance - Among the stocks with declining shareholder accounts, 60 have seen price increases, with notable gains from Yidong Electronics (52.12%), ST Jinglun (41.95%), and Chuangyitong (41.87%) [2][3] - 32 stocks outperformed the Shanghai Composite Index, with Yidong Electronics achieving a relative return of 43.84% [2][3] Industry Analysis - The industries with the highest concentration of stocks experiencing declining shareholder accounts include basic chemicals, machinery equipment, and electronics, with 13, 11, and 8 stocks respectively [2] - The main board has 62 stocks with declining accounts, while the ChiNext board has 31, and the Sci-Tech Innovation board has 2 [2] Institutional Activity - In the past month, four stocks with declining shareholder accounts have been frequently researched by institutions, with Unisoc Microelectronics receiving attention from 124 institutions [2][3] - Other companies with notable institutional interest include Fujilai and Jieya Co., with 24 and 17 institutions respectively participating in their research [2][3] Financial Performance - Among the 55 companies that have reported their semi-annual results, Fujilai shows the highest net profit growth at 12,430.96% year-on-year [3] - Yalian Machinery and Donghua Technology reported net profit increases of 20.57% and 14.64% respectively [3] - A total of 14 companies have issued performance forecasts, with Northeast Securities expected to have a net profit of 431 million yuan, reflecting a year-on-year increase of 225.90% [3]

Market Overview - On August 27, the semiconductor sector rose by 0.18% compared to the previous trading day, with Lexin Technology leading the gains [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Top Gainers in Semiconductor Sector - Lexin Technology (688018) closed at 219.99, up 17.33% with a trading volume of 125,700 shares and a turnover of 2.718 billion [1] - Changchuan Technology (300604) closed at 59.59, up 16.98% with a trading volume of 1,265,300 shares and a turnover of 7.356 billion [1] - Juxin Technology (688049) closed at 62.03, up 10.30% with a trading volume of 293,500 shares and a turnover of 1.828 billion [1] - Other notable gainers include Broadcom Integration (603068) and Ruixin Technology (603893), both up 10% [1] Top Losers in Semiconductor Sector - New Henghui (301678) closed at 95.70, down 6.77% with a trading volume of 131,000 shares and a turnover of 1.282 billion [2] - Juguang Technology (688167) closed at 124.50, down 6.29% with a trading volume of 81,100 shares and a turnover of 1.038 billion [2] - Other significant decliners include Astone Technology (300706) and Aoshanghai (688082), both down over 5% [2] Capital Flow Analysis - The semiconductor sector experienced a net outflow of 932 million from institutional investors and 1.231 billion from retail investors, while individual investors saw a net inflow of 2.163 billion [2][3] - Notable net inflows from retail investors were observed in Changchuan Technology (300604) and Ruixin Technology (603893) [3]

Core Viewpoint - The integrated circuit ETF (562820) opened with a slight increase of 0.38%, indicating a positive market sentiment towards the semiconductor sector [1] Group 1: ETF Performance - The integrated circuit ETF (562820) opened at 2.110 yuan [1] - Since its establishment on April 12, 2024, the fund has achieved a return of 110.35% [1] - The fund's performance over the past month has been a return of 24.77% [1] Group 2: Major Holdings Performance - Major stocks in the ETF include: - SMIC (中芯国际) increased by 1.26% [1] - Haiguang Information (海光信息) rose by 1.49% [1] - Cambrian (寒武纪) surged by 3.75% [1] - OmniVision (豪威集团) gained 2.38% [1] - Zhaoyi Innovation (兆易创新) increased by 0.95% [1] - Longsys Technology (长电科技) slightly rose by 0.03% [1] - Unisoc (紫光国微) decreased by 0.01% [1] - Chipone (芯原股份) fell by 1.11% [1] - Rockchip (瑞芯微) increased by 2.30% [1]

Group 1 - The top 20 stocks with significant capital inflow as of August 27 include: Yanshan Technology (1.618 billion), Huayin Electric Power (948 million), and Yingweik (730 million) [1] - Yanshan Technology experienced a price increase of 10.08%, while Huayin Electric Power rose by 9.63% [2] - Other notable stocks with substantial capital inflow include Jishi Media (567 million), Tianfeng Securities (485 million), and Maigemeite (437 million) [1][2] Group 2 - The sectors represented among the top inflow stocks include internet services, electric power, specialized equipment, cultural media, and securities [2][3] - Yanshan Technology and Huayin Electric Power are both in the electric power sector, indicating strong interest in this industry [2][3] - The stock with the highest price increase is Keda Intelligent, which rose by 17.75% with a capital inflow of 413 million [2]

Core Viewpoint - The Integrated Circuit ETF (159546) opened with a gain of 0.47%, reflecting positive market sentiment in the semiconductor sector [1] Group 1: ETF Performance - The Integrated Circuit ETF (159546) opened at 1.714 yuan [1] - Since its establishment on October 11, 2023, the fund has achieved a return of 70.46% [1] - The fund's return over the past month is reported at 24.76% [1] Group 2: Major Holdings Performance - Major holdings in the ETF include: - SMIC (中芯国际) with a gain of 1.26% [1] - Haiguang Information (海光信息) with a gain of 1.49% [1] - Cambrian (寒武纪) with a gain of 3.75% [1] - OmniVision (豪威集团) with a gain of 2.38% [1] - Zhaoyi Innovation (兆易创新) with a gain of 0.95% [1] - Longsys (长电科技) with a slight gain of 0.03% [1] - Unisoc (紫光国微) with a minor decline of 0.01% [1] - Chipone (芯原股份) with a decline of 1.11% [1] - Rockchip (瑞芯微) with a gain of 2.30% [1] Group 3: Management Information - The ETF is managed by Guotai Fund Management Co., Ltd. [1] - The fund manager is Ma Yiwen [1] - The performance benchmark for the ETF is the CSI All-Share Integrated Circuit Index [1]

Group 1: Government Policy and Industry Outlook - The State Council has issued a significant document to deepen the implementation of the "Artificial Intelligence +" initiative, aiming for extensive integration of AI with six key sectors by 2027 [2] - By 2030, AI is expected to fully empower high-quality development, with the application penetration rate of new intelligent terminals and agents exceeding 90% [2] - By 2035, China aims to enter a new stage of intelligent economy and society development, providing strong support for the realization of socialist modernization [2] Group 2: Company Performance and Market Trends - Xinhua Jin has announced that it received an administrative regulatory measure from the Qingdao Securities Regulatory Bureau regarding the non-operating occupation of company funds amounting to 406 million yuan [1] - Xinhua Jin's stock price has increased by 89.25% year-to-date, with a current market capitalization of 3.7 billion yuan [1] - The company's semi-annual report shows a 24.92% year-on-year decline in revenue to 669 million yuan and a 39.45% decrease in net profit attributable to shareholders to 12.87 million yuan [1] Group 3: AI Concept Stocks and Institutional Interest - AI concept stocks have seen an average increase of 16.5% since August, with over 90% of these stocks recording price increases [3] - Huasheng Tiancai has the highest increase in August, rising by 134.25%, focusing on generative AI and cloud-native technologies [3] - Desay SV has attracted significant institutional interest, with 351 institutions conducting research, and is developing low-speed unmanned vehicle business with multiple pilot projects underway [3][4]

记者 杨帆 进入中报密集披露期，公募机构调研热情显著升温，上周调研次数环比激增149%至1817次。其中，电 子行业成为焦点，被调研 357 次，涉及 27 只个股，无论是公募机构调研次数还是覆盖个股数量都遥遥 领先。 公募调研次数周增149%！ 上市公司进入到中报密集披露期，公募机构调研热情持续高涨。投资快报记者从公募排排网统计数据看 到，上周（2025年8月18日-8月24日）共有151家公募机构参与到A股调研活动中，调研范围覆盖到25个 申万一级行业中的155只个股，合计调研次数达1817次，较前一周增幅149.25%。 上周118只公募调研股实现上涨，占比为76.13%，其中61只个股涨幅在5%以内，33只个股涨幅5%-10% 之间，24只个股更是涨幅超10%。 医药生物行业个股福瑞股份以28.23%的涨幅领跑，吸引到招商基金、财通基金、华夏基金等24家公募 机构扎堆调研。福瑞股份公司是一家专注于肝病医疗领域的公司，其业务涵盖药品生产与销售、仪器研 发与销售以及医疗服务。 电子行业被调研357次，27股入围成"独宠" | 此外，电子行业个股表现尤为抢眼，在涨幅靠前的公募调研股中占据五席。伟测科技、德邦 ...