"作为上海服务科技创新和产业发展的国有投资平台，瞄准的是产业链最上游、价值链最顶端、技术体 系最底层的资产。在这一过程中，将积极布局基础模型、算力芯片、具身智能等赛道，重点关注语料数 据、端侧AI、AI4S、垂类模型与应用等领域。"上海国投相关人士对外表示。 值得关注的是，上海国投先导AI母基金领投的壁仞科技传出IPO前最新融资消息，而除了这三家公司， 包括华虹半导体、邦芯半导体、积塔半导体、奕斯伟硅片身后，都有上海国投系基金的身影。 华夏时报（www.chinatimes.net.cn）记者 胡金华 上海报道 近年来纷纷成立的地方先导产业基金都投了些什么？ 5月18日，上海国有资本投资有限公司（下称"上海国投"）发布消息称，分别与芯耀辉、燧原科技、壁 仞科技三家半导体公司签署投资协议。尽管官方并未公布具体投资事项，不过在同类先导产业基金中， 上海国投"撒网式"投资行为引起业界关注。 各地产业先导基金投资布局 除了上海规模高达千亿元的先导产业基金外，全国各地也纷纷成立了规模不等的先导产业基金，且都进 入投资期。 上海国投遴选项目标准 上海国投管理着总规模达1000亿元的上海三大先导产业（集成电路、生物医药、人 ...

Core Viewpoint - Xiamen Hengkang New Materials Technology Co., Ltd. (Hengkang New Materials) is advancing its IPO process on the Sci-Tech Innovation Board, focusing on the development, production, and sales of photolithography materials and precursor materials, which are essential for integrated circuit manufacturing [1][9]. Group 1: Company Overview - Hengkang New Materials is one of the few companies in China capable of developing and mass-producing key materials for 12-inch integrated circuit wafer manufacturing [1][9]. - The company's products are primarily used in advanced NAND, DRAM storage chips, and logic chips at the 90nm technology node and below [1][9]. Group 2: Financing and Shareholding Structure - The company has undergone frequent financing, leading to a highly dispersed shareholding structure, with the actual controller, Yi Rongkun, holding only 19.52% directly [8][9]. - The company plans to raise approximately 1 billion yuan through its IPO, which is a reduction from the previously planned 1.2 billion yuan [9][11]. - The first five customers account for over 97% of the company's sales, indicating a high customer concentration risk [17][19]. Group 3: Financial Performance - Hengkang New Materials reported revenues of 322 million yuan, 368 million yuan, and 548 million yuan for the years 2022, 2023, and 2024, respectively, showing a general slowdown in growth [18][19]. - The net profit for the same years was 101 million yuan, 90 million yuan, and 97 million yuan, reflecting significant volatility [19]. - The company’s operating cash flow has been relatively stable, with figures of 149 million yuan, 88 million yuan, and 191 million yuan over the same period [19]. Group 4: Production Capacity and Utilization - The company has low capacity utilization rates for its main products, with significant portions of its production lines not yet operational [9][11][13]. - The planned fundraising will be used to build new production capacity for photolithography materials and precursor materials, raising questions about the necessity and rationality of these investments given the current low utilization rates [9][12][16]. Group 5: Supplier Relationships - The top five suppliers account for approximately 75% of the company's procurement, indicating a high supplier concentration [24][25]. - The company primarily sources its raw materials from foreign suppliers due to the technical requirements and quality control standards in the integrated circuit industry [25].

Core Viewpoint - Shanghai Pengwu Electronics Technology Co., Ltd. has recently completed a multi-million A+ round financing led by Jinyumaowu, indicating strong investor confidence in the company's potential in the integrated circuit testing equipment sector [2][4]. Company Overview - Established in 2015 and headquartered in Shanghai's Pudong New District, Pengwu Electronics is a high-tech enterprise focused on integrated circuit testing equipment [3]. - The company has sales centers in Zhangjiang, Shanghai, a research and development center in Suzhou Industrial Park, and a manufacturing base in Jiaxing, Zhejiang [3]. - Pengwu Electronics provides one-stop solutions for integrated circuit wafer and chip testing and verification equipment, combining hardware design and software development [3]. - The company's products have significant technological advantages in high-speed digital, high-precision analog, and wireless RF fields, effectively reducing testing costs and improving accuracy, thus breaking the long-standing monopoly of foreign giants in this area [3]. Financing Purpose - The recent financing will primarily be used for new product development and scaling production capacity [4]. - The company aims to increase R&D investment to enhance product performance and reliability, meeting the market demand for high-end integrated circuit testing equipment [4]. - Optimizing production capacity and improving efficiency will ensure faster product delivery and better service for customers, contributing to the independent innovation and domestic substitution of integrated circuit testing equipment [4]. Investment Rationale - Jinyumaowu's investment director highlighted the company's technological strength and innovation capabilities in the integrated circuit testing equipment field as key reasons for the investment [5]. - The company has achieved several technological breakthroughs through independent R&D, with its high-end ATE testing equipment 'P2' and high-speed digital instrument 'HSS10G' successfully introduced to clients, filling a gap in the domestic market [5]. - The market outlook for Pengwu Electronics is promising, as the rapid development of the domestic integrated circuit industry increases demand for high-end testing equipment, positioning the company to capture significant market share [5]. - The management team's experience and market insight were also noted as important factors for investment [5]. Industry Context - The national government has placed significant emphasis on the development of the integrated circuit industry, implementing various supportive policies, including tax incentives and financial subsidies for design, manufacturing, and testing sectors [5]. - The recent financing round for Pengwu Electronics reflects the positive impact of government policies on the industry, indicating a favorable environment for growth [5]. - The investment in Pengwu Electronics is seen as a response to national industrial policies, contributing to the development of the domestic integrated circuit industry and supporting independent innovation and domestic substitution [5].

据介绍，2024年，气派科技在晶圆测试方面完成了第三代半导体、电源管理、MCU、Nor-Fash、LDO 等产品系列的测试开发和量产；引进LaserTrim设备，增加DC/DC、电源管理IC等模拟类器件的测试范 围；新增OTP测试流程，MCU以及Nor-Fash产品测试量产。在高密度大矩阵引线框封装技术方面，公司 持续扩大高密度大矩阵引线的产品覆盖，报告期，公司完成SOP、TSSOP、SOT89的高密度大矩阵集成 电路封装技术的开发，SOP、TSSOP均已大批量生产，SOT89完成设计审核、项目立案、产线架设并通 线。 "半导体行业经过2022、2023年度深度调整后，2024年度在需求上温和复苏，公司订单逐渐增多，产能 利用率有所恢复，经营业绩同比有所改善。"气派科技(688216)副总经理、董事会秘书文正国在2024年 度暨2025年第一季度业绩说明会上表示，随着行业的温和复苏，公司在手订单稳中有升。 资料显示，气派科技是华南地区规模最大的内资集成电路封装测试企业之一，公司掌握了5G基站GaN 射频功放塑封封装技术、高密度大矩阵集成电路封装技术、小型化有引脚自主设计的封装方案、封装结 构定制化设计技术、F ...

证券代码：301366 证券简称：一博科技 深圳市一博科技股份有限公司 2024 年度业绩说明会 投资者关系活动记录表 编号：2025-006 投资者关系活动类别 □特定对象调研 □分析师会议 □媒体采访 □新闻发布会 □现场参观 ■业绩说明会 □路演活动 □其他 参与单位名称及人员姓名 （排名不分先后） 线上参与公司 2024 年度业绩说明会的投资者 时间 2025 年 5 月 21 日下午 15 点—16 点 地点 价值在线（www.ir-online.cn） 上市公司接待人员姓名 1、董事长兼总经理 汤昌茂先生； 2、副总经理兼董事会秘书 余应梓先生； 3、财务负责人（总监） 闵正花女士； 4、独立董事 周伟豪先生； 5、独立董事 胡振超先生； 6、独立董事 梁 融先生； 7、保荐代表人 胡安举先生。 投资者关系活动主要内容 介绍 公司于 2025 年 5 月 21 日（星期 三 ） 15:00-16:00 在价值在线 （www.ir-online.cn）举行了 2024 年度业绩说明会。本次年度业绩说明会通过 网络，采用文字互动的方式举行，主要内容如下： 问 1：目前产能情况如何？ 答 1:尊敬的投资 ...

Core Viewpoint - Zhangjiang Hi-Tech (600895.SH) is focusing on industrial investment, participating in the Yuanhe Puhua Integrated Circuit Industry Fund with a commitment of 100 million yuan, which has a target size of approximately 2 billion yuan [1][2] Investment Activities - The Yuanhe Puhua Integrated Circuit Industry Fund aims to invest in the semiconductor core sectors and hard technology fields, particularly in developed regions like the Yangtze River Delta and the Pearl River Delta [2] - Zhangjiang Hi-Tech has been actively investing in various sectors, including a 200 million yuan investment in the high-end electric vehicle brand Zhiji Auto and participation in the EDA Innovation Center [3] Financial Performance - In Q1 2025, Zhangjiang Hi-Tech reported a revenue of 1.219 billion yuan, a year-on-year increase of 24.41%, and a net profit of 294 million yuan, up 147.38% year-on-year [8] - The company achieved an investment income of 236 million yuan in Q1 2025, a significant increase of 333.74% year-on-year, accounting for 80% of the net profit for the period [5][8] Investment Scale and Focus - As of the end of 2024, Zhangjiang Hi-Tech's cumulative investment scale exceeded 9.5 billion yuan, with 56 direct investment projects and 30 fund participations [4] - The company primarily invests in integrated circuits (28% of total investments), biomedicine and medical devices (20%), and new energy vehicles (35%) [4] Operational Efficiency - Zhangjiang Hi-Tech has demonstrated effective cost control, with total operating expenses in Q1 2025 amounting to 155 million yuan, representing 12.69% of revenue, a decrease of 2.54 percentage points compared to the previous year [8] - The company maintains a stable dividend policy, having distributed cash dividends 25 times, totaling 4.706 billion yuan [8]

国家集成电路产业投资基金二期股份有限公司 上海硅产业集团股份有限公司 简式权益变动报告书 上市公司名称：上海硅产业集团股份有限公司 股票上市地点：上海证券交易所 股票简称：沪硅产业 股票代码：688126 信息披露义务人：国家集成电路产业投资基金二期股份有限公司 住所及通讯地址：北京市北京经济技术开发区景园北街 2 号 52 幢 7 层 701-6 股权变动性质：增加（以资产认购上市公司发行股份） 签署日期：2025 年 5 月 信息披露义务人声明 一、本报告书系信息披露义务人依据《中华人民共和国公司法》《中华人民 共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容 与格式准则第 15 号——权益变动报告书》等相关法律法规编制。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行 证券的公司信息披露内容与格式准则第 15 号——权益变动报告书》的有关规定， 本报告书已全面披露信息披露义务人在上海硅产业集团股份有限公司拥有权益 的股份变动情况。 截至本 ...

Core Viewpoint - The actual controllers of Zhaosheng Microelectronics (300782.SZ) are planning to reduce their holdings due to personal financial needs, despite the company's declining performance in recent years [1][2]. Group 1: Shareholding and Reduction Plans - The actual controllers, Xu Zhihan, Feng Chenhui, and Yi Gebing, hold 35.37 million shares (6.62%), 40.49 million shares (7.57%), and 32.76 million shares (6.13%) respectively [1]. - They plan to reduce their holdings by up to 5.35 million shares (1% of total share capital) within three months after the announcement [1]. - The potential cash-out from the maximum reduction could amount to approximately 400 million yuan based on the closing price of 73.40 yuan per share on May 16 [1]. Group 2: Company Performance and Financials - Zhaosheng Microelectronics has faced operational pressure, with net profits declining from 21.35 million yuan in 2021 to projected figures of 10.69 million yuan in 2022, 11.22 million yuan in 2023, and 4.02 million yuan in 2024 [2][3]. - The company reported a net loss of 46.62 million yuan in the first quarter of this year, marking its first loss since 2018 [4]. - Since the peak on June 30, 2021, the company's stock price has dropped by approximately 80% [5]. Group 3: Company Background - Zhaosheng Microelectronics specializes in the research, development, production, and sales of radio frequency integrated circuits, providing solutions for various RF components and low-power Bluetooth microcontroller chips [2].

不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 5月19日消息，通富微电公告，持有公司股份13315.6578万股（占公司总股本比例8.77%）的股东国家集 成电路产业投资基金股份有限公司计划在本减持计划公告发布之日起15个交易日后的3个月内（即2025 年6月11日至2025年9月8日），以集中竞价或大宗交易方式减持持有的公司股份不超过3793.9922万股 （即不超过公司股份总数的2.5%）。 国家集成电路产业投资基金俗称"大基金"，是国内规模最大的产业投资基金。 工信部官网显示，设立大基金是贯彻《国家集成电路产业发展推进纲要》的重要举措，也是适应集成电 路产业投资大风险高的产业特征、破解集成电路产业融资瓶颈、创新产业投资体制机制的积极探索。 2019年，大基金一期过了五年投资期之后，按照其自身规划，将进入回收期，开始分阶段退出。同年10 月，大基金二期成立，注册资本达2041.5亿元。 值得一提的是，大基金三期也在2024年5月成立，旨在引导社会资本加大对集成电路产业的多渠道融资 支持，重点投向集成电路全产业链。 国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 通富微电是集成电路封装测试 ...

Core Viewpoint - The company, Qianyuan Power, is experiencing significant growth in its main business of hydropower generation, with a notable increase in revenue and net profit in the first quarter of 2025, indicating a strong performance despite rising costs and financial expenses [6]. Company Performance - In Q1 2025, Qianyuan Power reported a main revenue of 401 million yuan, a year-on-year increase of 53.88% - The net profit attributable to shareholders reached 51.8465 million yuan, up 348.38% year-on-year - The net profit after deducting non-recurring gains and losses was 51.2663 million yuan, an increase of 353.21% year-on-year - The company's debt ratio stands at 55.11%, with investment income at -1.2394 million yuan and financial expenses at 52.6612 million yuan, while the gross profit margin is 52.55% [6]. Industry Outlook - The integrated circuit testing industry is expected to grow rapidly due to the increasing domestic chip localization rate and the rising complexity and integration of chips, which will drive demand for testing services [2][3]. - The shift of the global integrated circuit industry towards domestic markets, supported by national policies, is anticipated to create significant opportunities for the domestic third-party testing market [3]. - The company aims to enhance its core competitiveness in the integrated circuit field through a strategy focused on market orientation and technological innovation [5]. Financial Forecast - Various institutions have provided profit forecasts for Qianyuan Power, with net profit predictions for 2025 ranging from 413 million yuan to 453 million yuan, and for 2026, predictions range from 423 million yuan to 530 million yuan [9]. - The average target price set by institutions for the stock is 18.81 yuan, with four institutions rating it as a buy and one as hold [7].