蓝盾光电于12月11日晚间发布公告，决定终止以现金8000万元购买星思半导体股权的交易。该交易源于2024年7月26日与珠海洛 恒签署的《投资意向书》，并于2024年9月13日由全资子公司蓝芯合伙与珠海洛恒正式签署《关于上海星思半导体有限责任公司 之股权转让协议》。根据协议，蓝盾光电拟受让珠海洛恒持有的星思半导体3.4783%股权，对应注册资本78.28万元。 尽管交易终止，蓝盾光电仍持有星思半导体4.95%股权，位列股东榜第六位。星思半导体成立于2020年，聚焦5G/6G通信技术， 提供全场景天地一体化基带芯片及解决方案。公司已完成6轮融资，累计融资金额超17亿元，投资方包括高瓴、鼎晖等知名机 构。2025年6月，星思半导体完成新一轮融资，新增MPCVIHKLimited等投资方；同年10月，在2025卫星应用大会上发布全新Ka 模组及解决方案CM7810&CB7810，展示其在卫星通信领域的技术进展。 蓝盾光电表示，鉴于公司自身情况和星思半导体情况，为控制投入并减少对外投资对公司的影响，维护公司及全体股东尤其是 中小股东的利益，综合考虑相关因素后，公司及蓝芯合伙经慎重考虑并与珠海洛恒共同商议，决定终止本次 ...

Company Overview - The company, Si Rui Pu, is engaged in the research and sales of integrated circuit design, focusing on high-performance, high-quality, and high-reliability products [4][18] - The main business includes the development and sales of analog and mixed-signal integrated circuits, covering various applications such as new energy, automotive, communication, industrial, and healthcare [4][18] Financial Performance - In the first quarter of 2025, the company achieved operating revenue of 421.79 million yuan, a year-on-year increase of 110.88% and a quarter-on-quarter increase of 13.59% [34] - The net profit attributable to shareholders was 15.56 million yuan, marking a turnaround from losses [34] - The gross profit margin for the first quarter was 46.43%, showing a slight year-on-year decline but a quarter-on-quarter improvement [34] Industry Context - The global semiconductor market is projected to reach a size of 627.6 billion USD in 2024, reflecting a growth of 19.1% compared to 2023 [14] - The domestic integrated circuit industry in China is expected to see double-digit growth in both production and export volumes in 2024, with significant contributions from sectors like AI and smart vehicles [15][16] - The analog chip market is anticipated to grow to 79.43 billion USD in 2024, driven by demand from consumer electronics, automotive electronics, and industrial control [16][17] Technological Trends - The company is focusing on high-performance and low-power designs, as well as high integration and multi-functionality in its analog chip offerings [20][21] - Innovations in manufacturing processes and packaging technologies are being pursued to enhance product performance and reliability [22] Market Applications - The company’s products are widely used in various sectors, including communication, automotive, and industrial automation, with a growing demand for analog chips in 5G technology and electric vehicles [23][25][28] - The renewable energy sector, particularly solar and energy storage, is expected to drive further demand for analog chips due to the increasing installation of solar power systems and energy storage solutions [26][27]