Core Viewpoint - The company, Siwei (Shanghai) Electronic Technology Co., Ltd., successfully completed a public offering of 40,010,000 shares at a price of 31.51 RMB per share, raising a total of approximately 1.26 billion RMB, with a net amount of about 1.17 billion RMB after deducting issuance costs [1][2]. Continuous Supervision Work - The sponsor, CITIC Securities, has established and effectively implemented a continuous supervision work system and plan [1]. - A supervision agreement was signed between the sponsor and the company, clarifying rights and obligations during the supervision period [1]. - The sponsor conducted regular communication, site inspections, and due diligence to understand the company's operational status [1]. - During the supervision period, the company did not violate any regulations or commitments [2][4]. Financial Performance - The company's operating income for 2024 reached approximately 5.97 billion RMB, representing a year-on-year increase of 108.87% [17]. - The net profit attributable to shareholders was approximately 391.42 million RMB, showing significant growth compared to the previous year [19]. - The total assets of the company increased by 27.41% year-on-year, reaching approximately 7.83 billion RMB [17]. - The basic earnings per share for 2024 was 0.98 RMB, a substantial increase from 0.04 RMB in 2023 [17][20]. Research and Development - The company invested approximately 44.74 million RMB in R&D in 2024, a year-on-year increase of 56.35% [24]. - R&D expenditure accounted for 7.50% of operating income, a decrease of 2.51 percentage points compared to the previous year [24]. - The company has established a strong R&D team, with 44.92% of its total workforce engaged in R&D activities [21]. Market Position and Competitive Advantage - The company has maintained a high market share in the security and machine vision sectors, with significant sales growth in smart mobile phones and automotive electronics [19][23]. - The company has developed a robust customer resource system, collaborating with well-known brands such as Hikvision, DJI, and Xiaomi [21][23]. - The company has a solid intellectual property system, holding a total of 464 authorized patents, including 96 overseas patents [21]. Industry Risks - The integrated circuit design industry is characterized by rapid technological changes, requiring continuous innovation and adaptation to market demands [7][8]. - The company faces operational risks due to its reliance on third-party foundries for chip production, which may affect profitability and supply stability [9][10]. - The company is exposed to macroeconomic fluctuations that could impact demand in downstream application areas [12][14].

Investment Rating - The investment rating for the company is "Recommended" [1] Core Views - The company reported strong profit performance in Q1 2025, with a revenue of 234 million yuan, representing a year-on-year growth of 9.77%, and a net profit of 10 million yuan, up 26.72% year-on-year [4][7] - The company maintains its leading position in the domestic EDA market, with a market share that remains the highest among local EDA firms [7][8] - The company has a robust R&D investment strategy, with R&D expenses amounting to 868 million yuan in 2024, accounting for 71.02% of its revenue [7][8] - The company has established strong relationships with nearly 700 domestic and international clients, enhancing its market expansion and brand recognition [8] Financial Performance Summary - In 2024, the company achieved a revenue of 1.222 billion yuan, a year-on-year increase of 20.98%, while the net profit was 109 million yuan, a decrease of 45.46% [4][7] - For Q1 2025, the company reported a significant increase in operating cash flow, reaching 240 million yuan, a year-on-year growth of 281.38% [7] - The company’s gross margin is projected to remain stable at 93.3% from 2024 to 2027, while the net profit margin is expected to improve from 9.0% in 2024 to 15.5% in 2027 [10] Earnings Forecast - The earnings per share (EPS) for 2025 is estimated at 0.41 yuan, with projections of 0.57 yuan for 2026 and 0.81 yuan for 2027 [8][10] - The company is expected to see a significant recovery in net profit, with forecasts of 222 million yuan in 2025, 309 million yuan in 2026, and 439 million yuan in 2027, reflecting growth rates of 103.1% and 39.2% respectively [10] Market Position and Strategy - The company has been recognized as a national-level "Little Giant" enterprise, indicating its strong capabilities in the EDA industry [8] - The company is focusing on enhancing its technological capabilities in key areas such as storage and automotive electronic design tools, which are approaching international advanced levels [8]

星标 ★ IPO日报 精彩文章第一时间推送 制图：佘诗婕 锐石创芯成立于2017年，是一家专注于高性能的4G/5G射频前端分立器件及模组的研发、制造及销售的高新技术企业，同时也 是国家级专精特新小巨人企业。公司具备射频前端产品所需全系列芯片的设计及模组化能力，并战略布局滤波器晶圆制造，构 建了"芯片设计-模组集成-滤波器晶圆制造"的全产业链能力。公司产品广泛应用于智能手机、物联网、卫星通信、无人机及智 能穿戴设备等领域。 | 辅导对象 | 锐石创芯(重庆)科技股份有限公司 | | | | --- | --- | --- | --- | | 成立日期 | 2017年4月1日 | | | | 注册资本 | 38,249.0525 万元 法定代表人 | | 倪建兴 | | 京果家 发 | 童庆市两江新区龙兴镇明理路6号104 | | | | 控 股 股 东 及持股比 | 倪建兴为公司控股股东,其直接持有公司 16. 28%的股份,间接持 | | | | | 有公司 3.07%的股份,合计持有公司 19.35%的股份。 | | | | જી | | 在其他交易场 | | | 行业分类 | C39 计算机、通信和其他电 ...

Core Viewpoint - The article discusses the termination of the acquisition of Yunyinggu Technology by Huizhi Technology, highlighting the reasons behind the decision and the financial status of Yunyinggu Technology [2][3][5]. Group 1: Termination of Acquisition - Huizhi Technology announced the termination of the acquisition of 100% shares of Yunyinggu Technology due to failure to reach an agreement on the transaction price and commercial terms [2][3]. - The decision was made after thorough analysis and discussions with the transaction parties, aiming to protect the interests of the company and its shareholders [3]. Group 2: Yunyinggu Technology Overview - Yunyinggu Technology specializes in OLED display driver chips (DDIC) and is classified under the "new generation information technology industry" as a strategic emerging industry [3][4]. - The company operates a Fabless model, focusing on integrated circuit design, quality control, and sales, while outsourcing manufacturing and testing [4]. Group 3: Financial Performance - As of September 30, 2024, Yunyinggu Technology reported total assets of 1.27 billion, total liabilities of 170 million, and a revenue of 704 million with a loss of 162 million for the first three quarters of the year [5]. - The losses are attributed to high early-stage R&D investments, which exceed 100 million annually, but are expected to improve as commercial applications scale up [5][6]. Group 4: Competitive Landscape - Yunyinggu Technology's main competitors are South Korean and Taiwanese firms, and it is currently in a revenue growth phase with relatively high production costs [6]. - The company has established stable partnerships with leading Micro-OLED panel manufacturers, positioning itself as a key supplier in the market [5].

本次股票发行后拟在科创板市场上市，该市场具有较高的投资风险。科创板公司 具有研发投入大、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解科创板市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 上海新相微电子股份有限公司 Shanghai New Vision Microelectronics Co., Ltd. （住所：上海市徐汇区桂平路 680 号 31 幢 7 楼） 首次公开发行股票并在科创板上市 招股意向书 保荐机构（主承销商） （住所：北京市朝阳区建国门外大街1号国贸大厦2座27层及28层） 上海新相微电子股份有限公司 招股意向书 发行人声明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行人自 行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票依法 发行后因发行人 ...

定、退市风险高等特点,投资者面临较大的市场风险。投资者应充分了解科创板的投资风 险及本公司所披露的风险因素，审慎作出投资决定。 上海南芯半导体科技股份有限公司 （中国（上海）自由贸易试验区盛夏路 565 弄 54 号（4 幢）1601） 首次公开发行股票并在科创板上市 招股意向书 声明及承诺 保荐人（主承销商） （北京市朝阳区安立路 66 号 4 号楼） 本次发行股票拟在科创板上市，科创板公司具有研发投入大、经营风险高、业绩不稳 上海南芯半导体科技股份有限公司 招股意向书 | 发行股票类型 | 股） 人民币普通股（A | | | --- | --- | --- | | 发行股数 | 本次公开发行股票数量为 6,353.00 例为 | 万股，占发行后总股本的比 15%。本次发行全部为发行新股，不涉及公司股东公开发 | | | 售股份。 | | | 每股面值 | 人民币 元 1.00 | | | 每股发行价格 | 【】元 | | | 预计发行日期 | 2023 年 3 月 24 | 日 | | 拟上市证券交易所和板块 | 上海证券交易所科创板 | | | 发行后总股本 | 42,353.00 万股 | | | 保 ...

本次股票发行后拟在科创板市场上市，该市场具有较高的投资风险。科创板公司具有研发投入 大、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较大的市场风险。投资者应充 分了解科创板市场的投资风险及公司所披露的风险因素，审慎作出投资决定。 龙迅半导体（合肥）股份有限公司 Lontium Semiconductor Corporation （住所：安徽省合肥市经济技术开发区宿松路 3963 号智能装备科技园 B3 栋） 首次公开发行股票并在科创板上市 招股说明书 保荐机构（主承销商） （住所：北京市朝阳区建国门外大街1号国贸大厦2座27层及28层） 龙迅半导体（合肥）股份有限公司 招股说明书 发行人声明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈 利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反的声明均 属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自 行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票依法发 行后因发行人经营 ...

股票简称：裕太微 股票代码：688515 裕太微电子股份有限公司 （苏州市高新区科灵路 78 号 4 号楼 201 室） 首次公开发行股票 科创板上市公告书 保荐机构（主承销商） 上海市广东路 689 号 二〇二三年二月九日 1 第 I 条 特别提示 裕太微电子股份有限公司（以下简称"裕太微"、"发行人"、"公司"、"本公 司"）股票将于 2023 年 2 月 10 日在上海证券交易所科创板上市。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在新 股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 2 第一节 重要声明与提示 一、重要声明 本公司及全体董事、监事、高级管理人员保证上市公告书所披露信息的真实、 准确、完整，承诺上市公告书不存在虚假记载、误导性陈述或重大遗漏，并依法 承担法律责任。 上海证券交易所、有关政府机关对本公司股票上市及有关事项的意见，均不 表明对本公司的任何保证。 本 公 司 提 醒 广 大 投 资 者 认 真 阅 读 刊 载 于 上 海 证 券 交 易 所 网 站 （http://www.sse.com.cn）的本公司招股说明书"风险因素"章节的内容，注意 风险 ...

本次股票发行后拟在科创板市场上市，该市场具有较高的投资风险。科创板公司 具有研发投入大、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解科创板市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 裕太微电子股份有限公司 Motorcomm Electronic Technology CO., LTD. 苏州市高新区科灵路 78 号 4 号楼 201 室 首次公开发行股票并在科创板上市 招股说明书 发行人实际控制人承诺本招股说明书不存在虚假记载、误导性陈述或重大遗 漏，并对其真实性、准确性、完整性承担个别和连带的法律责任。 保荐人（主承销商） （上海市广东路 689 号） 裕太微电子股份有限公司 招股说明书 声明及承诺 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行 人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价 ...

本次股票发行后拟在科创板市场上市，该市场具有较高的投资风险。科创板公司 具有研发投入大、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解科创板市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 裕太微电子股份有限公司 Motorcomm Electronic Technology CO., LTD. 苏州市高新区科灵路 78 号 4 号楼 201 室 首次公开发行股票并在科创板上市 招股意向书 保荐人（主承销商） （上海市广东路 689 号） 裕太微电子股份有限公司 招股意向书 声明及承诺 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行 人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 发行人及全体董事、监事、高 ...