中国经济网北京12月19日讯 今日，厦门优迅芯片股份有限公司（股票简称：优迅股份，股票代码：688807.SH）在上交所科创板上市。该股开盘报 240.00元，截至收盘报230.70元，涨幅346.57%，成交额28.54亿元，振幅117.79%，换手率78.74%，总市值184.56亿元。 优迅股份专注于光通信前端收发电芯片的研发、设计与销售，公司产品广泛应用于光模组（包括光收发组件、光模块和光终端）中，应用场景涵盖接 入网、4G/5G/5G-A无线网络、数据中心、城域网和骨干网等领域。 公司股权较为分散，单一股东所持表决权均未超过30%。任何单一股东所持的表决权均无法控制股东会或对股东会决议产生重大影响。因此，公司认 定无控股股东。 本次发行前，柯炳粦直接持有公司10.92%股份，通过担任科迅发展的执行事务合伙人间接控制公司4.59%表决权，共控制公司15.51%表决权；柯腾隆 担任员工持股平台芯优迅、芯聚才、优迅管理的执行事务合伙人，并通过上述三个员工持股平台控制公司11.63%表决权。柯炳粦与柯腾隆合计控制公司 27.13%表决权，为公司实际控制人。 优迅股份于2025年10月15日首发过会，上交所上 ...

Core Viewpoint - The Shanghai Stock Exchange's listing review committee has postponed the initial public offering (IPO) review of Xiamen Youxun Chip Co., Ltd. (referred to as "Youxun") during its 37th meeting of 2025 [1] Company Overview - Youxun focuses on the research, design, and sales of optical communication front-end transceiver chips [2] - The company's shareholding is relatively dispersed, with no single shareholder holding more than 30% of voting rights, indicating the absence of a controlling shareholder [2] - The actual controllers of the company are Ke Binglan and Ke Tenglong, who collectively control 27.13% of the voting rights [2] IPO Details - Youxun plans to publicly issue up to 20 million shares on the Shanghai Stock Exchange's Sci-Tech Innovation Board, accounting for no less than 25% of the total share capital post-issuance [2] - The company aims to raise approximately 809.065 million yuan for projects related to next-generation access networks, automotive chips, and 800G and above optical communication chips [2][3] Fund Allocation - The total investment for the projects is as follows: - Next-generation access network and high-speed data center chip development: 467.8065 million yuan [3] - Automotive chip research and development: 169.0847 million yuan [3] - 800G and above optical communication chips and silicon photonic components: 172.1738 million yuan [3] - The total amount to be raised is 809.065 million yuan [3] Key Questions from the Listing Committee - The committee raised concerns regarding the sustainability of the company's operating performance, potential risks of declining gross margins, and the stability of the actual controller's control over the company [4][5]

Core Viewpoint - The Shanghai Stock Exchange is set to review the initial public offering (IPO) application of Xiamen Youxun Chip Co., Ltd. on September 19, 2025, focusing on its development in optical communication chips [1] Company Summary - Xiamen Youxun Chip Co., Ltd. specializes in the research, design, and sales of optical communication front-end transceiver chips [1] - The company’s IPO application was accepted on June 26, 2025, and it entered the inquiry phase on July 15, 2025 [1] Fundraising and Project Allocation - The company aims to raise approximately 809 million yuan, which will be allocated to the development and industrialization of next-generation access network and high-speed data center chips, vehicle-mounted chip R&D and industrialization projects, and the development of 800G and above optical communication chips and silicon photonic components [1]

Core Viewpoint - The Shanghai Stock Exchange will hold a listing review meeting on September 19, 2025, to evaluate Xiamen Youxun Chip Co., Ltd.'s application for fundraising of 809.065 million yuan for various chip development projects [1][2]. Group 1: Fundraising Details - Youxun Chip plans to raise a total of 809.065 million yuan for three main projects: 1. Development and industrialization of next-generation access network and high-speed data center chips, with an investment of 467.8065 million yuan [2]. 2. Research and industrialization of vehicle-mounted chips, with an investment of 169.0847 million yuan [2]. 3. Research and development of 800G and above optical communication chips and silicon photonic components, with an investment of 172.1738 million yuan [2]. - The total investment for these projects sums up to 809.065 million yuan [2]. Group 2: Underwriting Information - The lead underwriter for Youxun Chip's fundraising is CITIC Securities Co., Ltd., with representatives Dai Wushi and Ma Rui overseeing the process [2].

Core Insights - The company reported a revenue of 3.047 billion yuan for the first half of 2025, representing a year-on-year growth of 6.07% and a net profit of 653 million yuan, up 4.39% year-on-year [1] - Total assets reached 17.696 billion yuan, an increase of 2.17%, while the net assets attributable to shareholders rose to 12.878 billion yuan, up 3.90% [1] - The company is a leading integrated circuit manufacturer in China, focusing on special integrated circuits and smart security chips, while also expanding into quartz crystal frequency devices [1] Business Performance - The special integrated circuit segment expanded into new application scenarios such as commercial aerospace, with successful production of new high-performance FPGA and system-level chips [2] - The smart security chip business has launched multiple eSIM solutions globally, and the first pilot of a bank card using the E450R security chip has been initiated [2] - The automotive safety chip solutions have been enhanced, with new products like the T97-415E chip being introduced and achieving significant shipment volumes [3] R&D and Innovation - The company maintained a strong focus on R&D, achieving 26 invention patents and 6 utility model patents during the reporting period [1] - New products in the analog sector, including high-performance RF clock and low-power Ethernet PHY, have shown leading technical specifications domestically, with increasing orders [2] - The company is committed to high-quality operations and enhancing core competitiveness by focusing on cutting-edge technologies and expanding into new fields [3]

Financial Performance - In the first half of 2025, the company reported operating revenue of 283 million yuan, a decrease of 6.99% year-on-year [1][3] - The net profit attributable to shareholders was -8.81 million yuan, an improvement from -10.61 million yuan in the same period last year [1][3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -14.52 million yuan, compared to -27.28 million yuan in the previous year [1][3] - The net cash flow from operating activities was 4.15 million yuan, down 43.56% year-on-year [1][3] Future Projections - The projected net profit attributable to shareholders for 2023 and 2024 is -19.07 million yuan and -17.17 million yuan, respectively [3][4] - The projected net profit after deducting non-recurring gains and losses for the same years is -58.57 million yuan and -46.28 million yuan, respectively [3][4] Stock Market Information - The company went public on May 26, 2022, with an issuance of 17.26 million shares at a price of 55.15 yuan per share [4][5] - The stock is currently trading below its initial offering price, indicating it is in a state of decline [4] Fundraising Details - The total amount raised from the initial public offering was 952 million yuan, with a net amount of 860 million yuan after deducting issuance costs [5] - The funds are intended for the development and industrialization of power management control chips, motor drive control chips, and the establishment of a research and development center [5]

Core Viewpoint - Dongxin Co., Ltd. (688110) announced the recent market activity regarding its investment in Lishuan Technology (Shanghai) Co., Ltd., which has launched its first self-developed GPU chip "7G100" and the first graphics card product Lisuan eXtreme. The products are currently undergoing optimization and will soon enter customer sampling and mass production phases, but have not yet generated revenue [1]. Group 1 - The company has disclosed that Lishuan Technology has released its first self-developed GPU chip and graphics card [1]. - The chip products are still in the optimization phase and are preparing for customer sampling and mass production [1]. - There are risks associated with the industrialization progress and performance of Lishuan Technology, which investors should consider [1].