被动元件大厂国巨（2327）董事长陈泰铭收购日商芝浦电子案终于达成目标。国巨昨（3）日宣布，公 开收购芝浦参与应卖股数已过50.01%的门槛，累计持有约87%的芝浦股权。 依国巨每股7,130日圆价格估算，法人估计至今约斥资近950亿日圆（约新台币196亿元）。 业界人士指出，两件并购案是国巨近年来系统性布局半导体产业链的代表作，强化集团提供完整解决方 案，抢攻AI电源端的主动元件、被动元件新设计。 业界指出，从富鼎的功率半导体MOSFET技术，再到力智的电源管理IC设计能力，以及茂达的风扇马达 驱动IC和电源管理IC产品线，透过快速收购，国巨已经建立从被动元件到主动元件的垂直整合能力，形 成一个相互支援的完整电源解决方案生态系统。 业界进一步说，不论是电源IC或是芝浦的保护元件，都是用来处理电流、电压，功能包含稳压、储存电 能、滤波等，显示出国巨布局电源领域积极态度，未来在电源领域方面，可直接整合，在前端就将自家 的被动元件和IC绑定、提供客户完整解决方案，不仅简化了客户的采购流程，更能够确保不同元件间的 最佳匹配和系统优化，让国巨产品具备更强市场竞争力。 随着茂达纳入泛国巨集团，国巨版图已延伸至人形机器人 ...

Core Viewpoint - The establishment of the South China headquarters R&D and production base by Zhongwei Semiconductor Equipment (Shanghai) Co., Ltd. marks a significant step in enhancing its capabilities in the semiconductor and related industries, aiming to solidify its leading position in the global high-end semiconductor equipment market [2][3]. Group 1: Project Overview - The South China headquarters R&D and production base covers an area of approximately 130 acres with a total investment of 3 billion yuan [3]. - The first phase of the project, which has commenced, occupies about 50 acres and involves an investment of approximately 1 billion yuan, with completion expected by the end of 2026 and production planned for 2027 [3]. Group 2: Focus Areas - The base will initially focus on R&D and production in the large flat panel display equipment sector and will gradually expand into emerging fields such as smart glass and board-level packaging [3]. - The project aims to enhance product R&D and advanced manufacturing capabilities, further deepening the strategic layout in the semiconductor and broader semiconductor industry chain [3]. Group 3: Financial Performance - In the first half of 2025, Zhongwei Company achieved revenue of 4.961 billion yuan, representing a year-on-year growth of 43.88% [5]. - The net profit attributable to shareholders was 706 million yuan, an increase of 36.62% year-on-year, while the net profit after deducting non-recurring items was 539 million yuan, up 11.49% year-on-year [5].

Core Viewpoint - The establishment of multiple new companies in the semiconductor industry chain indicates a significant trend of regional expansion among leading enterprises, with a focus on key areas such as chip design, manufacturing equipment, materials, and packaging testing [1] Group 1: New Company Establishments - A total of 11 new semiconductor companies have been established, with a concentration in Shanghai (4), Jiangsu (3), and Zhejiang (2), while emerging regions like Hainan and Inner Mongolia are becoming new hubs for technology deployment [1] - Hainan Unisoc Technology Co., Ltd. focuses on integrated circuit design, data processing services, and cloud computing equipment sales, potentially aligning with the cross-border data flow policies of the free trade port [3] - Shanghai SIDA Integrated Circuit Co., Ltd. aims to enhance its capabilities in power semiconductor design and sales, particularly targeting the automotive electronics industry in the Yangtze River Delta [4] - Cambricon (Hohhot) Information Technology Co., Ltd. is dedicated to integrated circuit chip design and manufacturing, supporting AI chip trials and localization in Northern China [5] - Beijing Weifang Technology Co., Ltd. is involved in 5G communication and integrated circuit chip manufacturing, particularly in satellite mobile communication terminals and smart drones [6] - Haimuxing Laser Intelligent Equipment (Foshan) Co., Ltd. applies laser technology to semiconductor device manufacturing, contributing to the local semiconductor industry cluster [7][8] Group 2: Industry Chain Segmentation - Shanghai Huichunxin Semiconductor Materials Co., Ltd. focuses on the research and sales of electronic materials, potentially involving the localization of critical materials like photoresists and target materials [10] - Huzhou Sucas Semiconductor Technology Co., Ltd. continues its parent company's expertise in semiconductor cleaning equipment, while Suzhou Guanghuan Zhi Semiconductor Equipment Co., Ltd. is involved in semiconductor device manufacturing [12] - Basic Semiconductor (Hangzhou) Co., Ltd. specializes in silicon carbide discrete devices and integrated circuit chips, catering to high-voltage applications in electric vehicles and energy storage [13] Group 3: Investment Characteristics - 80% of the new companies are wholly owned by listed companies or industry leaders, indicating a trend of vertical integration to strengthen control over the industry chain [16] - Investment in automotive-grade chips, silicon carbide devices, and semiconductor laser equipment accounts for over 60% of the new establishments, closely linked to the explosive growth of end markets like electric vehicles and energy storage [16] - The establishment of companies in non-traditional semiconductor bases like Hohhot and Hainan suggests a shift towards regions with lower costs and better policies, accelerating the formation of a national industry chain network [16]

Core Viewpoint - A semiconductor company, Jinghe Integrated, is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and competitiveness [1][3]. Group 1: Company Strategy and Developments - Jinghe Integrated aims to deepen its international strategy, accelerate overseas business development, and improve its brand image by leveraging international capital market resources [1][3]. - The company is currently discussing the specifics of the H-share listing with relevant intermediaries, and this move will not change the controlling shareholder or actual controller [3]. - Prior to the H-share listing, Jinghe Integrated secured a strategic investment from Huakin Technology, which will acquire a 6% stake at a price of 19.88 yuan per share, totaling 2.39 billion yuan [3][5]. Group 2: Financial Performance - For the first half of 2025, Jinghe Integrated expects revenue between 5.07 billion yuan and 5.32 billion yuan, representing a year-on-year growth of 15.29% to 20.97% [6]. - The projected net profit attributable to shareholders is between 260 million yuan and 390 million yuan, indicating a significant increase of 39.04% to 108.55% year-on-year [6]. - The company attributes its performance improvement to increased product sales and high capacity utilization, alongside a focus on expanding application areas and developing high-end products [6]. Group 3: Product Development and Market Position - Jinghe Integrated is a leading semiconductor wafer manufacturer, producing various chips used in consumer electronics and office products, with a strong overlap with Huakin Technology's existing product lineup [5]. - The company has achieved mass production of its 40nm high-voltage OLED display driver chips and 55nm CIS chips, with ongoing development of 28nm chips expected to enter risk production by the end of the year [7]. - Continuous investment in R&D, with a 15% increase compared to the previous year, is aimed at ensuring ongoing technological innovation and enhancing market competitiveness [6].

Core Viewpoint - Konka Group has decided to terminate its acquisition plan for Hongjing Microelectronics due to failure to reach consensus on key terms with the counterpart, aiming to protect the interests of all shareholders, especially minority shareholders [1] Group 1: Acquisition Details - The acquisition plan involved purchasing 78% of Hongjing Microelectronics' shares and raising matching funds through issuing shares to 17 counterparties, with a share price set at 3.64 yuan, which is 80% of the average trading price over the previous 120 trading days [2] - Hongjing Microelectronics specializes in multimedia chip design, with applications in various sectors including medical, automotive, and smart manufacturing, and has developed at least 45 multimedia chip products [2][3] Group 2: Financial Performance - Hongjing Microelectronics has shown unstable financial performance, with revenues of 291 million yuan in 2022, 286 million yuan in 2023, and 269 million yuan in the first 11 months of 2024, alongside net profits of 19.41 million yuan, 27.64 million yuan, and 12.99 million yuan respectively [3] - As of November 30, 2024, Hongjing Microelectronics had total assets of 733 million yuan and total liabilities of 330 million yuan [3] Group 3: Strategic Implications - The acquisition was intended to enhance Konka Group's positioning in the semiconductor industry, particularly in high-end display terminals, and to improve the self-control capability of upstream core chips [4] - Konka Group's recent financial report indicated challenges in its strategic transformation, with a significant decline in semiconductor revenue from 340 million yuan to 17 million yuan, contributing only 1.53% to total revenue [4] Group 4: Ownership Changes - The termination of the acquisition may be linked to strategic adjustments following the change of control to China Resources, which occurred shortly after the acquisition plan was disclosed [5]

Core Viewpoint - Deep Konka A announced the termination of the plan to acquire 78% of Hongjing Microelectronics due to failure to reach agreement on key terms with the transaction parties [1][6]. Group 1: Acquisition Details - The acquisition plan was initially announced on December 30, with the intention to purchase shares from Liu Wei and 17 other parties at a price of 3.64 yuan per share [5]. - Hongjing Microelectronics specializes in audio and video chip design, having developed over 70 domestic chips for various applications including commercial displays and medical devices [5]. - The acquisition was expected to enhance Deep Konka A's capabilities in high-end display terminals and improve its semiconductor business integration [5]. Group 2: Financial Performance - Deep Konka A's stock price has seen a decline of nearly 11% year-to-date, closing at 4.93 yuan per share on June 10 [1][10]. - The company reported a significant drop in revenue for 2024, with total revenue of 11.11 billion yuan, a decrease of 37.73% compared to the previous year [8]. - The semiconductor and storage chip business accounted for only 1.53% of total revenue, down 94.99% year-on-year [8]. - The company has faced continuous losses, with net profits of -1.47 billion yuan in 2022, -2.16 billion yuan in 2023, and -3.30 billion yuan in 2024 [8][10]. Group 3: Market Conditions and Strategic Changes - The company cited intensified market competition and ongoing supply chain disruptions as factors contributing to its financial struggles [10]. - In April, it was announced that the controlling shareholder would change from Overseas Chinese Town Group to a subsidiary of China Resources, indicating a shift in strategic direction [10].