格隆汇11月20日丨安凯微(688620.SH)在投资者互动平台表示，公司2024年三季度之前发布的芯片产 品，如KM01、KM02、AK39A系列v100等均已经实现量产。今年四季度预计也会有部分其他新芯片会 导入量产环节，这些新产品明后年也预期会是销量上升期。 ...

Core Viewpoint - Tesla is expected to mass-produce the AI6 chip by 2027 using Samsung's 2nm process, but the yield rate and ability to meet production timelines remain uncertain [1] Group 1: Production and Technology - The AI6 chip will utilize Samsung's 2nm (SF2) advanced process technology [1] - The current yield rate for SF2 is approximately 40-50%, which is lower than TSMC's N2 process yield of over 70% and Intel's 18A yield of 50-55% [1] - SF2 employs GAA (Gate-All-Around) technology similar to SF3, which is beneficial for mass production [1] Group 2: Uncertainty in Production - There is significant uncertainty regarding whether the AI6 chip can be produced on schedule using the SF2 process [1]

Core Viewpoint - The annual shareholder meeting of Canxin Semiconductor (Shanghai) Co., Ltd. will address various proposals, including financial reports, profit distribution, and the appointment of auditing firms for the fiscal year 2025, amidst a significant decline in net profit and revenue for 2024. Group 1: Financial Performance - The net profit attributable to shareholders for 2024 is 61.05 million yuan, a decrease of 64.19% compared to the previous year [6][7]. - The total revenue for 2024 is approximately 1.09 billion yuan, reflecting an 18.77% decline from 2023 [7]. - The net cash flow from operating activities is reported at 9.12 million yuan, down 75.13% year-on-year [7]. Group 2: Business Segmentation - Revenue from chip design business and chip volume production business is categorized, with the latter generating 808.60 million yuan, a 14.54% decrease due to changes in customer demand [9]. - The company completed 190 chip design projects in 2024, marking a 30.14% increase from 2023 [9]. Group 3: Shareholder Meeting Proposals - Proposal one includes the review of the 2024 annual report and its summary, which has been approved by the board and supervisory committee [6]. - Proposal two involves the financial settlement report for 2024 and the budget report for 2025, emphasizing the need for revenue growth strategies [6][7]. - Proposal six outlines a profit distribution plan, proposing a cash dividend of 1.70 yuan per 10 shares, totaling approximately 20.40 million yuan, with a cash dividend ratio of 33.42% [28][30]. Group 4: Governance and Compliance - The board of directors has conducted meetings in compliance with legal regulations, ensuring the legitimacy of resolutions passed [16]. - The supervisory board has effectively monitored the company's operations and financial status, confirming adherence to laws and regulations [26]. - The company plans to revise its articles of association and governance structures, eliminating the supervisory board and transferring its responsibilities to the audit committee [31].

Group 1: Market Activity - Net purchases included Meituan at 1.234 billion, China Mobile at 550 million, China Construction Bank at 499 million, and others, while net sales included Xiaomi Group at -310 million and Tencent Holdings at -306 million [1] - Southbound funds have recorded 11 consecutive days of net sales for Tencent, totaling 13.90601 billion HKD, and 3 consecutive days of net sales for Xiaomi, totaling 1.28491 billion HKD [1] Group 2: Company Developments - Sangfor Biopharma has reached a milestone agreement with Pfizer for the PD-1/VEGF bispecific antibody SSGJ-707, involving an upfront payment of 1.25 billion and a total of 6.05 billion for global development and commercialization, setting a record for recent Chinese innovative drug licensing [4] - China Construction Bank and other major state-owned banks have announced a reduction in multiple terms of RMB deposit rates, with the three-year and five-year rates lowered by 25 basis points to 1.25% and 1.3% respectively [4] - Leap Motor reported a 187.1% year-on-year revenue growth in Q1, reaching 10.02 billion RMB, driven by strong sales growth and optimized product structure, with a 4.9% increase in revenue per vehicle [4] Group 3: Product Launches - Xiaomi's Lei Jun announced that the Xiaomi玄戒O1, a self-developed 3nm flagship chip, has begun mass production, with two flagship products set to launch: the high-end Xiaomi 15s Pro smartphone and the ultra-high-end OLED Xiaomi Pad 7 Ultra [5]