已全面进入战略落地加速期。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，奇梦岛（NASDAQ: HERE）公布了2026财年第一季度（2025年7月1日至 2025年9月30日）财报，这也是完成业务重组以纯潮玩业务亮相的首个财季。 财报显示， 本财季奇梦岛实现潮玩业务总营收1.271亿元，环比激增93.3%，远超1至1.1亿元的业 绩指引区间上限。2026财年Q2营收指引为1.5亿—1.6亿元。 在IP生态方面，奇梦岛展现出系统性的IP孵化和打造能力。截至9月30日，HERE奇梦岛拥有包括 WAKUKU哇库库和ZIYULI又梨等11个自有知识产权IP，以及SIINONO赛诺诺等4个独家授权IP和2 个非独家授权IP。 明星IP矩阵持续发力，WAKUKU哇库库营收8,973万元，ZIYULI又梨营收2,076万元，SIINONO赛 诺诺自7月中下旬推出后营收1,289万元，为奇梦岛业绩注入动能。明星IP哇库库WAKUKU近日推出 全新"立刻开挂吧"系列产品，彰显了强大的品牌和产品创造力。 奇梦岛供应链效率的突破进一步支撑了业绩增长。 2025年8 ...

Core Viewpoint - Recent shareholder reduction plan announced by Canxin Co., with three related shareholders planning to reduce their stake by up to 1.71%, potentially cashing out over 425 million yuan based on the latest closing price [1][8]. Group 1: Shareholder Reduction Details - The three shareholders, Liaoning Zhongde, Huzhou Yuntong, and Haitong Innovation, plan to reduce a total of 3,247,939 shares, representing no more than 1.71% of the total share capital [1][2]. - These shareholders had previously reduced their holdings on September 19, 2025, selling a total of 1.24 million shares at an average price of 61.88 yuan per share, amounting to 76.73 million yuan [3][4]. Group 2: Shareholder Composition - As of now, the three shareholders collectively hold 5,982,560 shares, accounting for 4.99% of the total share capital, with Liaoning Zhongde holding 2,354,380 shares and Huzhou Yuntong holding 442,220 shares [2][3]. - Haitong Innovation holds 3,185,960 shares, with a portion acquired before the IPO [2][3]. Group 3: Stock Performance and Financials - Following the announcement of the reduction plan, Canxin Co.'s stock price dropped significantly by 11.72% on October 17, 2025, closing at 131.10 yuan, with a market capitalization of 15.73 billion yuan [8]. - Despite the stock price surge, Canxin Co. reported disappointing financial results, with a revenue of 1.09 billion yuan in 2024, down 18.77% year-on-year, and a net profit of 61.05 million yuan, down 64.19% [8][9]. - In the first half of 2025, the company continued to face challenges, with revenue of 282 million yuan, a decline of 52.56%, and a net loss of 60.88 million yuan [9][12]. Group 4: Business Operations - The decline in revenue is primarily attributed to a decrease in chip volume business, which saw a 71.11% year-on-year drop due to reduced customer orders, although there are signs of improvement in the second quarter of 2025 [9][12]. - The company is focusing on long-term development, increasing R&D expenses by 43.25% in the first half of 2025, particularly in high-speed interface IP and high-performance analog IP [12].

Group 1 - The company has raised a total of RMB 1,806,856,851.88 through the issuance of 24,860,441 shares at a price of RMB 72.68 per share, with a net amount of RMB 1,780,262,125.56 after deducting issuance costs [1][2] - The raised funds are allocated for projects in the AIGC and smart mobility sectors, with a total investment of RMB 180,815.69 million, of which RMB 180,685.69 million is planned to be funded by the raised capital [2][3] - The company has pre-invested RMB 38,453.54 million of its own funds into the projects from December 22, 2023, to May 31, 2025, and plans to replace this with the raised funds [2][4] Group 2 - The company has incurred issuance costs totaling RMB 2,659.47 million, of which RMB 416.01 million was paid from its own funds prior to the capital being raised, and it intends to replace this amount with the raised funds [4][5] - The board of directors has approved the use of raised funds to replace pre-invested self-raised funds and issuance costs, confirming that this does not alter the intended use of the funds or harm shareholder interests [6][7] - The independent auditor, Deloitte, has verified the pre-invested funds and issuance costs, confirming compliance with relevant regulations and reflecting the actual expenditures accurately [7][8]

Fundraising Overview - The company, Chiplet Microelectronics (Shanghai) Co., Ltd., has received approval from the China Securities Regulatory Commission to issue shares to specific investors, raising a total of RMB 1,806,856,851.88 [1][2] Special Account and Supervision Agreement - The company has established a special account for the raised funds, which will only be used for the designated projects and not for any other purposes [2][3] - A tripartite supervision agreement has been signed between the company, the sponsoring institution (Guotai Junan Securities Co., Ltd.), and the banks holding the funds to ensure proper management and usage of the raised capital [2][3] Specific Projects and Fund Allocation - The funds will be allocated to research and development projects in the fields of AIGC (Artificial Intelligence Generated Content) and smart mobility, specifically for the Chiplet solution platform [3][4] - The agreement stipulates that the funds must be used solely for the specified projects, ensuring investor protection and compliance with relevant regulations [4][5] Monitoring and Reporting - The sponsoring institution is responsible for ongoing supervision of the fund usage, conducting at least biannual on-site inspections to verify compliance with the agreement [6][7] - The company is required to notify the sponsoring institution of any significant expenditures from the special account and provide detailed expenditure reports [8][9]