公司解释，此举旨在以更有竞争力的价格打开市场，尽管影响了短期毛利率和收入确认，但有利于长期 市场渗透。从下游客户看，服务器产品已成功导入联想、东海信息等多家厂商，2023年以来对主要客户 的销售占该系列收入超80%。 坦承与国际巨头存差距，多维度技术追赶进行时 1月26日，上海兆芯集成电路股份有限公司（简称：兆芯集成）的科创板IPO进程迎来关键进展。据上 海证券交易所官网披露，兆芯集成已完成对首轮审核问询函的回复，就市场关注的产品技术路线、收入 构成、客户结构及募投项目规划等核心问题进行了详细说明。 桌面PC处理器为当前收入基石，KX系列获市场认可 根据问询回复材料，兆芯集成自2014年起承担国家重大科技专项，确立了从桌面PC处理器向服务器处 理器延伸的技术与产品发展路径。报告期内（指2022年至2025年上半年），公司营收主要来源于"开 先"系列桌面PC/嵌入式处理器。 其中，KX-6000、KX-6000G及新一代KX-7000处理器是"开先"系列的销售主力，合计占各期主营业务收 入比例最高达106.55%。尤其是KX-6000处理器，累计销量已近350万颗，市场接受度显著。公司指出， 随着技术迭代，20 ...

Group 1: Company Overview and Market Dynamics - The company hosted a research meeting on January 23, 2026, with participation from seven institutions, focusing on its strategic core business in automotive displays, which has seen a 24% growth in sales in the first three quarters of 2025 [1][2] - The company has maintained its position as the global leader in automotive TFT-LCD and instrument display shipments since 2020, with its head-up display (HUD) expected to reach the top position globally in 2024 [2] Group 2: Profitability and Competitive Landscape - The gross margin for the automotive business has shown a steady increase in the first three quarters of 2025, despite facing competitive pressures and price challenges [3] - The company aims to enhance product value through a strategy of increasing the complexity and integration of its modules, focusing on high-value-added products to maintain a robust gross margin [3] Group 3: Technological Advancements - The company has been developing Micro-LED technology since 2017, achieving significant breakthroughs in automotive and large-screen applications, with over 30 mass production devices and materials developed in collaboration [4] - In response to the competitive OLED market, the company plans to enhance production capabilities and optimize product structures to adapt to market changes, focusing on high-end and diversified applications [4] Group 4: Supply Chain and Emerging Business - The company collaborates with thousands of global suppliers to enhance material diversification and domestic supplier development, resulting in increased localization of materials and strengthened supply chain resilience [5] - The establishment of the MPG platform aims to explore non-display applications, with ongoing technical development in areas such as smart antennas and flexible sensors, currently in the incubation phase [5] Group 5: Market Value Management - The company emphasizes market value management, incorporating relevant metrics into its assessment system, and has implemented several initiatives to protect shareholder interests and enhance investor confidence since 2025 [6]