据证券之星公开数据整理，近期晶华微（688130）发布2025年中报。根据财报显示，晶华微增收不增 利。截至本报告期末，公司营业总收入7862.26万元，同比上升30.68%，归母净利润-2296.17万元，同比 下降600.18%。按单季度数据看，第二季度营业总收入4158.21万元，同比上升24.28%，第二季度归母净 利润-1282.25万元，同比下降500.18%。 本次财报公布的各项数据指标表现一般。其中，毛利率50.92%，同比减13.2%，净利率-29.2%，同比减 435.8%，销售费用、管理费用、财务费用总计2595.49万元，三费占营收比33.01%，同比增8.32%，每股 净资产10.37元，同比减45.65%，每股经营性现金流-0.22元，同比增23.17%，每股收益-0.19元，同比减 280.0% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 6016.4万 | 7862.26万 | - 30.68% | | 归母净利润（元） | -327.94万 | -2296.17万 | -60 ...

证券之星数据中心根据近三年发布的研报数据计算，东北证券李玖研究员团队对该股研究较为深入，近三 年预测准确度均值为74.53%，其预测2025年度归属净利润为盈利8.2亿，根据现价换算的预测PE为46.36。 民生证券股份有限公司方竞,卢瑞琪近期对汇顶科技（603160）进行研究并发布了研究报告《2025年中报 点评：新品商用规模扩大，盈利能力持续改善》，给予汇顶科技买入评级。 汇顶科技 事件：8月21日，汇顶科技发布2025年中报，公司25H1实现营收22.51亿元，YOY-0.20%；归母净利润4.31 亿元，YOY+35.74%；扣非归母净利润3.40亿元，YOY+23.80%。公司25Q2实现营收11.87亿元， YOY+14.40%，QOQ+11.52%；归母净利润2.35亿元，YOY+51.95%，QOQ+20.43%。 营收同比微降但归母同比高增，公司盈利能力持续改善。25H1，受下游客户备货节奏影响，公司出货量 不及去年同期水平，致营收同比微降0.2%至22.51亿元；但从利润角度来看，公司毛利率和净利率均实现 同环比提升。其中，25H1公司毛利率为43.28%，YOY+1.23pcts，QOQ ...

作为AI芯片准独角兽，中昊芯英的创始人杨龚轶凡将入主天普股份（605255）。8月22日，天普股份复 牌后，股价封于涨停板，报收29.3元/股，公司总市值39亿元。同日，多家参股公司股价也大幅上涨。 拟入主上市公司 8月21日，天普股份公告称，公司控股股东天普控股、天昕贸易、尤建义拟以协议转让方式合计向中昊 芯英转让公司10.75%股份，转让价格为23.98元/股，合计斥资约3.46亿元；同时，普恩投资、天昕贸易 拟以协议转让方式向方东晖合计转让公司8%股份，合计2.57亿元。 以本次股份转让完成为前提，中昊芯英、海南芯繁和方东晖拟向天普控股增资，分别增资6.18亿元、 3.95亿元、5.07亿元；增资后，中昊芯英持有天普控股30.52%，海南芯繁持有天普控股19.49%，方东晖 持有天普控股24.99%，尤建义持有天普控股25%。 交易完成后，中昊芯英和海南芯繁合计持有天普控股50.01%股权，杨龚轶凡能够通过控制中昊芯英和 海南芯繁控制天普控股，并通过天普控股控制上市公司，杨龚轶凡成为上市公司实际控制人。 天普股份表示，收购方中昊芯英将结合自身在芯片核心研发技术、产业链资源等方面的优势，为上市公 司业务发 ...

"芯片"这个词，大家肯定不陌生。手机、电脑、航天、汽车，几乎所有科技产品都离不开它。但就是这么个小东西，却成了我们国家科技发展路上的一道 坎。 2021年，云南大学成功攻关了一种新型材料——硫化铂与石墨烯的复合结构。这种材料性能极其优异，据说可媲美5nm芯片、甚至超越3nm制程的表现，而 且成本更低，还能延续摩尔定律的生命。可以说，这项技术为中国芯片"换道超车"提供了可能。 但光有材料技术还不够，要想实现芯片量产，还必须要有成熟的制造系统和供应链管理能力。这其中，MES（制造执行系统）和WMS（仓库管理系统）尤 为关键。 它们就像是芯片生产的"神经中枢"，负责调度设备、跟踪质量、管理库存、优化流程，任何一个环节出错，都可能影响整个产线。 少层硫化铂材料的结构及光电特性示意图。（图片来源：云南大学材料与能源学院） 为啥这么说？因为长期以来，高端芯片的设计制造被国外"卡脖子"。比如华为，就因为芯片断供，一度面临巨大压力。美国一轮轮的制裁，明摆着就是要遏 制中国高科技的发展。但压力之下，必有回应。中国人最擅长的，就是把压力转化为突破的动力。 云南大学宣布设立西南地区首个"钱学森班"，计划2025年开始招生。这个班不 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has achieved significant revenue growth, with a 37.72% year-on-year increase in revenue to 503 million yuan in the first half of 2025, and a remarkable 274.58% increase in net profit attributable to shareholders, reaching 101 million yuan [4][5] - The product structure has been optimized, leading to high profit growth, with notable increases in sales across various product lines, particularly in multi-mode and audio products [5] - The company is actively promoting chip research and development, with new AI chips and Matter chips entering mass production, contributing to sales growth [6] Financial Performance - The company reported a comprehensive gross margin of 50.61%, an increase of 4.43 percentage points year-on-year, attributed to the optimization of the product sales structure [5] - For Q2 2025, the company achieved revenue of 273 million yuan, a year-on-year increase of 33.97% and a quarter-on-quarter increase of 18.86% [5] - The projected revenues for 2025, 2026, and 2027 are 1.14 billion yuan, 1.48 billion yuan, and 1.90 billion yuan respectively, with net profits expected to be 222 million yuan, 326 million yuan, and 440 million yuan [7][10] Market Position - The company has established itself as a leader in the chip market, being the first to produce Bluetooth 6.0 chips with new features and achieving significant sales in the overseas smart home sector [6] - The company’s stock performance is projected to significantly outperform the market, with expected growth rates of 32.69%, 34.53%, 30.64%, and 28.20% for the years 2024 to 2027 [10]

Group 1 - The stock price of Allwinner Technology reached 41.08 yuan as of August 12, 2025, with a daily increase of 2.57% [1] - The trading volume on that day was 453,997 hands, with a transaction amount of 1.844 billion yuan and a turnover rate of 6.72% [1] - Allwinner Technology specializes in the research and design of smart application processors SoC, high-performance analog devices, and wireless interconnect chips, with applications in smart hardware, consumer electronics, and industrial control [1] Group 2 - The latest industry report indicates a significant increase in the contract price of consumer-grade DDR4, which rose sharply in July, with an expected price growth of 85%-90% in the third quarter [1] - Institutional forecasts suggest that Allwinner Technology's net profit is expected to double this year [1] Group 3 - On August 12, the net inflow of main funds was 136.7381 million yuan, accounting for 0.49% of the circulating market value [1] - Over the past five days, the net outflow of main funds was 49.558 million yuan, representing 0.18% of the circulating market value [1]

花旗发表研究报告指，对ARM 2026年第一财季表现略感意外，授权活动增强，专利费低迷，研发支出 增加，后两项因素导致每股盈余(EPS)承压，但并非负面因素。ARM对今年稍后的专利费持保守态度， 尤其在关键但增长缓慢的智能手机市场；由于关税对终端需求的潜在影响，能见度低。更重要的是，在 更高的专利费率加速运算子系统(CSS)的开发、软银设计工作，以及ARM可能转向制造硅芯片，研发费 用正在增加。 花旗预期，未来几季内将有更多信息，ARM的财务模型也将朝着正面方式发展，从而支持其股价。花 旗重申对该股"买入"评级，目标价从170美元上调至190美元。花旗将ARM2026年至2027年收入预估分 别上调1%、2%，预测收入达到19%、23%的稳健增长。花旗大致维持公司收入并提高费用，导致 2026、2027年每股盈利各下调4%。 ...

Group 1 - The stock price of Jucheng Co., Ltd. closed at 74.33 yuan on July 31, down 1.68% from the previous trading day [1] - The opening price on the same day was 75.20 yuan, with a highest point of 77.22 yuan and a lowest point of 74.15 yuan, with a trading volume of 54,949 lots and a transaction amount of 415 million yuan [1] - Jucheng Co., Ltd. is a fabless chip design company based in Shanghai, focusing on the semiconductor field, including storage chips among various market segments [1] Group 2 - The company stated on an interactive platform that it has established long-term stable relationships with suppliers and has sufficient capacity reserves [1] - In the first half of the year, the company's R&D investment reached 103 million yuan, with the second quarter R&D expenses hitting a historical high of 62 million yuan [1] - The company is continuously upgrading technology and iterating products while optimizing process flows to reduce production costs [1] Group 3 - On July 31, the net outflow of main funds was 47.0968 million yuan, accounting for 0.4% of the circulating market value [1]

Market Performance - The main board led the gains with notable increases in stocks such as XinYa Electronics (+10.02%), Hengsheng Electronics (+10.01%), and WoGe Optoelectronics (+10.00%) [1] - The ChiNext board saw significant growth, particularly with XingFu Blue Ocean (+20.02%) and Guotou Intelligent (+18.52%) [1] - The Sci-Tech Innovation board also performed well, with Dongxin Co. (+20.01%) and Fangbang Co. (+20.00%) leading the charge [1] - Active sub-industries included SW Communication Network Equipment and Devices (+6.34%) and SW Printed Circuit Boards (+3.36%) [1] Domestic News - Yifang Commercial Technology launched its first AR glasses, NOMO-1, featuring over 82% light transmittance and a 120Hz refresh rate [1] - MuXi released the XiYun C600 chip, enhancing its training and inference capabilities with HBM3e memory and a storage capacity of 144GB [1] - Chengdu Silan's automotive semiconductor packaging project commenced with a total investment of 1.5 billion yuan, expanding production lines for automotive-grade power modules [1] - TSMC's advanced packaging plant in Arizona is expected to begin construction in the second half of next year, aligning with the development of a 2nm wafer plant [1] Company Announcements - Siwei Tuxin announced the acquisition of seven invention patents covering various technologies including autonomous driving and navigation [3] - Shijia Photon reported a total revenue of 993 million yuan for H1 2025, a year-on-year increase of 121.12%, with a net profit of 217 million yuan, up 1712% [3] - Zhongcheng Technology signed a significant contract with China Mobile for a big data cloud platform service project valued at approximately 50.52 million yuan [3] - Liansheng Technology received a government subsidy of 13.5 million yuan, representing 12.24% of its latest audited net profit [3] Overseas News - The VSAP advanced packaging technology laboratory project in Da Nang has officially launched, focusing on cutting-edge packaging technology research [4] - Nvidia has ordered 300,000 H20 chips from TSMC to meet strong demand in the Chinese market [4] - Texas Instruments announced the release of a new low-cost processor, AM62L, designed for various industrial and general applications [4] - The U.S. Department of Justice announced that an EDA company agreed to pay over $140 million to resolve allegations of illegal sales of chip design software to Chinese institutions [4]

Core Viewpoint - Aiwai Electronics is actively expanding its operations through a convertible bond issuance to raise up to 1.901 billion yuan for various R&D projects, despite facing challenges in cash flow and project timelines [1][2]. Group 1: Stock Performance - As of July 29, 2025, Aiwai Electronics' stock price closed at 73.00 yuan, an increase of 2.81 yuan, representing a 4.00% rise [1]. - The trading volume for the day was 40,148 hands, with a total transaction amount of 290 million yuan [1]. Group 2: Business Overview - Aiwai Electronics specializes in high-performance mixed-signal, power management, and signal chain integrated circuit design, with applications in smartphones, IoT, and industrial control [1]. - The company reported a revenue of 640 million yuan in Q1 2025, marking a year-on-year increase of approximately 150% [2]. - The net profit attributable to shareholders was 64.07 million yuan, with a non-recurring net profit of 45.22 million yuan [2]. Group 3: Fundraising and Project Development - The company plans to issue convertible bonds to raise funds for a global R&D center and various chip development projects, allocating 1.224 billion yuan for the global R&D center, 241 million yuan for edge AI projects, 226 million yuan for automotive chip projects, and 209 million yuan for motion control chip projects [1]. - Some fundraising project timelines have been adjusted, with the "Development and Technology Reserve Fund Project" now expected to be operational by August 2026, delayed from the original August 2025 target due to changes in market conditions, industry technology development, and corporate strategy [1]. Group 4: Cash Flow Concerns - The net cash flow from operating activities decreased by 48.31% compared to the same period last year [2].