Core Viewpoint - Shenzhen has implemented measures to promote high-quality development in the semiconductor and integrated circuit industry, aiming to enhance the core competitiveness and innovation leadership of the industry [1][2]. Group 1: Policy Measures - The newly introduced measures include 10 specific support initiatives focusing on high-end chip product breakthroughs, chip design support, EDA tool promotion, core equipment and component breakthroughs, key manufacturing and packaging materials, high-end packaging testing, and accelerating the maturity of compound semiconductors [1]. - The measures emphasize the importance of market resource allocation and the role of enterprises as market entities, promoting a stable and efficient collaborative development mechanism across the industry chain [1]. Group 2: Industry Performance - Shenzhen's integrated circuit industry reached a scale of 142.4 billion yuan in the first half of the year, marking a historical high with a year-on-year growth of 16.9% [2]. - The establishment of the Semi Industry Private Equity Fund, with a total scale of 5 billion yuan, aims to invest in key projects and leading enterprises in Shenzhen's semiconductor and integrated circuit sector, focusing on building a localized supply chain [2].

Core Viewpoint - Zongyi Co., Ltd. is actively pursuing mergers and acquisitions, with a recent plan to invest 220 million yuan in Jiangsu Jilai Microelectronics Co., Ltd. to gain over 50% control, marking its entry into the power semiconductor manufacturing sector [1][2] Group 1: Investment and Acquisition Strategy - The investment involves two main components: a capital increase of 220 million yuan for 43.23 million new shares, representing 45.28% of the post-investment total shares, and a voting rights delegation from the original controlling shareholder, allowing Zongyi to control 53.96% of the voting rights [1] - Zongyi has not distributed dividends for 12 consecutive years since 2013, relying heavily on investment income [2] Group 2: Financial Performance and Risks - In 2024, Zongyi reported revenue of 348 million yuan, an increase of 8.15% year-on-year, but incurred a net loss of 36.49 million yuan after excluding non-recurring gains and losses [1] - The company has faced continuous net profit losses over the past three years, totaling approximately 450 million yuan in losses over the last decade [1][2] - Following the acquisition announcement, Zongyi's stock price surged over 30% in a week, indicating speculative trading behavior among retail investors, which raises concerns about potential price corrections if due diligence reveals issues with the acquisition [2]