Core Viewpoint - The National Venture Capital Guidance Fund has officially launched, marking a significant milestone for the venture capital industry in China, aimed at supporting technological innovation and development in key sectors [1][2]. Group 1: Fund Structure and Investment Strategy - The National Venture Capital Guidance Fund is established with a three-tier structure: "Fund Company - Regional Fund - Sub-Fund," which aligns national strategies while considering regional industrial characteristics [2]. - The fund will utilize 100 billion yuan from special long-term government bonds, encouraging social capital participation at the regional fund and sub-fund levels [2]. - The fund focuses on early-stage, small, long-term investments in hard technology, targeting strategic emerging industries and future industries as outlined in the 14th Five-Year Plan [1][5]. Group 2: Regional Funds and Investment Intentions - Three regional funds have been established: Beijing-Tianjin-Hebei Venture Capital Guidance Fund, Yangtze River Delta Venture Capital Guidance Fund, and Guangdong-Hong Kong-Macau Greater Bay Area Venture Capital Guidance Fund, each with a total scale exceeding 50 billion yuan [3]. - The regional funds have signed investment intentions with 49 sub-funds and 27 direct investment projects, indicating readiness for operational investment [3]. Group 3: Market Impact and Trends - The venture capital market in China is showing signs of recovery, with a reported 18.3% increase in the number of newly raised funds and an 8.0% increase in total fundraising scale in the first three quarters of 2025 [3]. - Key investment areas include IT, semiconductors, biotechnology/healthcare, and mechanical manufacturing, reflecting a focus on hard technology sectors [3]. Group 4: Role of the Guidance Fund - The National Venture Capital Guidance Fund aims to address the long-term capital shortage in the venture capital industry by acting as an "angel investor" to support early-stage innovative enterprises [5]. - The fund will complement existing funds focused on growth-stage cultivation and technology transfer, avoiding redundancy in the market [5]. Group 5: Performance Management and Regulatory Framework - The Ministry of Finance will actively fulfill its responsibilities as a state investor, focusing on performance evaluation and compliance of the guidance fund [6]. - A comprehensive risk prevention system covering the entire lifecycle of the fund will be established to enhance the effectiveness of fund utilization [6].

中芯国际（688981.SH）12月29日晚间公告称，公司拟向国家集成电路基金等5名中芯北方股东发行股份购买其所持有的标的公司49.00%股权，交易 价格406.01亿元。本次交易完成后，中芯国际将持有中芯北方100.00%的股权，中芯北方将成为公司的全资子公司。 加入"中国IC独角兽联盟"，请点击进入 是说芯语转载，欢迎关注分享 合作洽谈，进入公众号：服务—>商务合作 Q ··· 星标 是说芯语 是说芯语 阐述泛集成电路行业的技 780 H 不错过任何一条消息 ▶ 交流、市场应用、行业分析、产业 4篇原创内容 2014 - 10:3 进入公众号 不再关注 泛集成电路行业最新动态 2 4 2位朋友读过 设为星标 -- 此外，中芯国际公告称，公司全资子公司中芯控股与国家集成电路基金、国家集成电路基金二期等订立新合资合同及新增资扩股协议，以修订前合 资合同。据此，中芯南方注册资本将由65亿美元增加至100.773亿美元。中芯控股、国家集成电路基金、国家集成电路基金二期、国家集成电路基 金三期、上海集成电路基金、上海集成电路基金二期、泰新鼎吉、先导集成电路基金将分别持有中芯南方41.561%、9.392%、14.8 ...

智通财经APP讯，中芯国际(688981.SH)发布公告，公司拟向国家集成电路基金等5名中芯北方股东发行 股份购买其所持有的中芯北方49.00%股权，交易价格约406.01亿元。本次交易完成后，公司将持有中芯 北方100.00%的股权，中芯北方将成为公司的全资子公司。 中芯北方作为公司的控股子公司，主要为客户提供不同工艺平台的12英寸集成电路晶圆代工及配套服 务。本次交易有利于进一步提高上市公司资产质量、增强业务上的协同性，促进上市公司的长远发展。 交易前后上市公司的主营业务范围不会发生变化。 ...

Core Viewpoint - The national industrial and information technology conference emphasizes the need to consolidate the positive momentum of the industrial economy as the primary task for 2026, shifting focus from promoting stable growth to ensuring quality improvement [2][3]. Group 1: Industrial Economy - The conference highlights the importance of stabilizing the industrial economy, with expectations for telecommunications and software business revenues to grow by approximately 9% and 12% year-on-year, respectively, in 2025 [2]. - The shift in focus from "promoting stable growth" to "consolidating a positive momentum" reflects a deeper policy transition from stabilizing the economy to enhancing quality [2][3]. - The conference outlines ten key areas of focus for 2026, with the first being the consolidation of the industrial economy's positive momentum [2]. Group 2: Supply and Demand - The conference plans to increase the supply of green products, trendy products, and products for the elderly, responding to market demand trends [3]. - The emphasis on domestic demand as a priority aligns with the need for relevant supply to stimulate demand, indicating a policy shift towards domestic market strengthening [3]. Group 3: Technological Integration - The conference promotes the "Artificial Intelligence + Manufacturing" initiative, aiming to cultivate key industry intelligent entities and original intelligent enterprises [4][5]. - The transition from "digital empowerment" to "intelligent empowerment" signifies a deeper integration of intelligent technologies into traditional industries, enhancing efficiency and value creation [6]. Group 4: Emerging Industries - The conference outlines plans to develop emerging pillar industries such as integrated circuits, new displays, new materials, aerospace, low-altitude economy, and biomedicine [8][9]. - The focus on these industries is seen as a strategic move to address key technological challenges and enhance new productive forces, aligning with national strategic needs [10]. Group 5: Quality Enterprises - The conference emphasizes the cultivation of high-quality enterprises, including "little giant" enterprises and manufacturing champions, while addressing issues of overdue payments to businesses [12]. - The goal is to enhance the service capabilities of the information and communication industry, with significant growth in 5G infrastructure, reaching 4.758 million base stations by the end of October 2025 [12]. Group 6: Low-altitude Economy - The conference highlights the low-altitude economy as a new growth point, with the introduction of frequency development guidelines to support the industry [13]. - This initiative aims to facilitate the commercial operation of low-altitude logistics and aerial tourism, ensuring resource allocation and regulatory clarity [13].

Group 1 - The People's Bank of China has introduced an action plan for digital RMB management and infrastructure, set to officially launch on January 1, 2026, with significant transaction volumes already recorded [1] - As of November 2025, digital RMB has processed 3.48 billion transactions, amounting to 16.7 trillion yuan, with 230 million personal wallets opened through the digital RMB app [1] - The mBridge platform has handled 4,047 cross-border payment transactions, totaling approximately 387.2 billion yuan, with digital RMB accounting for about 95.3% of the transaction volume [1] Group 2 - China Chengtong and China Unicom have established a new technology innovation investment fund with a total investment of 10 billion yuan, focusing on venture capital for unlisted companies [2] - Dongguan Jimu Machinery Co., a Huawei subsidiary, has increased its registered capital from 3.89 billion yuan to approximately 4.689 billion yuan, marking a 21% increase [3] - Guangzhou Huitian Flying Car Manufacturing Co., a subsidiary of Xiaopeng Motors, has raised its registered capital from 650 million yuan to 900 million yuan, reflecting a 38% increase [4] Group 3 - Two ETFs from China have been listed in Thailand using the DR model, marking a significant step in the collaboration between Chinese and Thai capital markets [5] - Guangzhou Yu Xin Integrated Circuit Manufacturing Co. has increased its registered capital from 6.5 billion yuan to 7.5 billion yuan, a 15% increase [6] Group 4 - AI² Robotics has launched the world's first modular embodied intelligent service space, "Zhi Mo Fang," in Beijing and Shenzhen, with plans to deploy 1,000 units across various commercial and cultural locations in the next three years [8] Group 5 - The Ministry of Finance and the State Taxation Administration have announced that tobacco companies cannot deduct advertising expenses from taxable income, tightening regulations on advertising expenditures [9] - The State Administration for Market Regulation has introduced new regulations to oversee food contract manufacturing, effective December 1, 2026, emphasizing the responsibilities of both parties involved [10] Group 6 - Yang Gongyifan, CEO of Zhonghao Xinying, announced that the second generation of TPU products is set to launch next year, following the successful rollout of the first generation in 2023 [11]

登录新浪财经APP 搜索【信披】查看更多考评等级 截至本报告书签署日，信息披露义务人及其一致行动人最近一年及一期与上市公司之间不存在重大交易 情况。 六、信息披露义务人未来与上市公司之间的其他安排 截至本报告书签署日，信息披露义务人及其一致行动人不存在未来与上市公司之间的其他安排。 七、用于认购上市公司股份的非现金资产状况 本次交易过程中，上市公司拟向等5名交易对方以发行股份的方式收购中芯北方49%股权，本次交易标 的资产的交易价格为4,060,091.00万元。中芯北方相关情况如下： （一）基本情况 ■ （二）最近两年一期经审计的财务数据 中芯北方最近两年一期经审计的财务数据如下： ■ （三）资产评估情况 本次交易中，标的资产的评估基准日为2025年8月31日，评估对象为中芯北方股东全部权益。标的资产 的交易价格以符合《证券法》规定的资产评估机构出具的评估报告的评估结果为基础，由交易各方协商 确定。 单位：万元 根据上海东洲资产评估有限公司出具的《资产评估报告》（"东洲评报字[2025]第3160号"），以2025年 8月31日为评估基准日，评估机构采用资产基础法和市场法对中芯北方股东全部权益价值进行评估， ...

Group 1 - The core announcement involves the establishment of a new joint venture agreement and a capital increase agreement for SMIC Southern, increasing its registered capital from $6.5 billion to $10.0773 billion [2][3] - The shareholding structure post-capital increase will be as follows: SMIC Holdings 41.561%, National Integrated Circuit Fund 9.392%, National Integrated Circuit Fund II 14.885%, National Integrated Circuit Fund III 8.361%, Shanghai Integrated Circuit Fund 7.939%, Shanghai Integrated Circuit Fund II 11.253%, Tai Xin Ding Ji 5.545%, and Xian Dao Integrated Circuit Fund 1.063% [2][3] - The total cash contribution from all parties for this capital increase amounts to $7.778 billion, with $3.5773 billion allocated to registered capital and $4.2007 billion to capital reserves [7] Group 2 - The new joint venture agreement stipulates that all parties must complete 40% of their respective contributions by December 31, 2025, and the remaining 60% by December 31, 2026 [3][7] - The board of directors of SMIC Southern will consist of 7 members, with SMIC Holdings entitled to nominate 4 directors, and other funds entitled to nominate the remaining directors [4] - The management of SMIC Southern will be fully responsible for its daily operations and management [5] Group 3 - The capital increase is expected to reduce the asset-liability ratio of SMIC Southern, thereby creating a more robust financial structure for the group [9] - The new joint venture and capital increase agreements are deemed fair and reasonable by the board, aligning with the overall interests of the company and its shareholders [9][10] - The transactions are classified as connected transactions under Hong Kong listing rules due to the shareholding structure involving major shareholders [10][11]

Group 1 - The total GDP of the top 50 cities in China for the first three quarters of 2025 has surpassed 10,150 billion yuan, accounting for approximately 12% of the global GDP, indicating strong economic power [1][4] - The top three cities, Shanghai, Beijing, and Shenzhen, maintain their positions, but the core drivers of growth have shifted [4][5][7][9] - The overall economic landscape shows a transition from scale expansion to quality improvement among leading cities, with a notable focus on innovation and industrial strength [11][34] Group 2 - Shanghai's GDP reached 40,721.17 billion yuan, growing by 5.5%, driven by key industries such as integrated circuits, biomedicine, and artificial intelligence [5] - Beijing's GDP totaled 38,415.9 billion yuan, with a growth rate of 5.6%, supported by a strong financial sector and a burgeoning digital economy [7] - Shenzhen's GDP increased to 27,896.44 billion yuan, with a remarkable 69.2% growth in new energy vehicle production, highlighting its emerging low-altitude economy [9] Group 3 - Nanjing's GDP stood at 14,059.49 billion yuan, with a growth of 5.2%, but faces challenges in meeting its 2025 target of exceeding 20 trillion yuan [13][15] - Ningbo surpassed Tianjin with a GDP of 13,492.91 billion yuan, leveraging its port advantages and manufacturing strength [17] - The competition among cities like Changsha and Wuxi reflects different development paths, with Changsha focusing on industrial chain capabilities [20] Group 4 - Fuzhou, Hefei, and Jinan have all crossed the 1 trillion yuan mark for the first time, showcasing their emerging economic strength [23][25] - Cities like Wenzhou, Xuzhou, and Dalian are on the verge of reaching the 1 trillion yuan milestone, indicating significant regional economic development [27][32] - The overall competition among cities is not just about numbers but also about industrial capabilities, innovation, and governance [34][40]

记者丨刘雪莹 编辑丨曾静娇 12月29日晚，中芯国际(688981.SH)公告称，公司拟向国家集成电路基金等5名中芯北方股东发行股份购买其所持有的 标的公司49%股权，交易价格406亿元。 本次交易完成后，中芯国际将持有中芯北方100%的股权，中芯北方将成为公司的全资子公司。中芯北方主要为客户 提供不同工艺平台的12英寸集成电路晶圆代工及配套服务。 本次交易有利于进一步提高上市公司资产质量、增强业务上的协同性，促进上市公司的长远发展。交易前后上市公司 的主营业务范围不会发生变化。 此外，中芯国际同时公告，中芯控股与国家集成电路基金、国家集成电路基金二期等订立新合资合同及新增资扩股协 议，中芯南方注册资本将由65亿美元增加至100.773亿美元。中芯控股、国家集成电路基金、国家集成电路基金二 期、国家集成电路基金三期、上海集成电路基金、上海集成电路基金二期、泰新鼎吉、先导集成电路基金将分别持有 中芯南方41.561%、9.392%、14.885%、8.361%、7.939%、11.253%、5.545%及1.063%股权。 业绩方面，中芯国际2025年第三季度报告显示，公司前三季度营收为495.10亿元，同比增 ...

中芯国际（688981.SH）12月29日晚间公告称，公司拟向国家集成电路基金等5名中芯北方股东发行股份购买其所持有的标的公司49.00%股权，交易价格 406.01亿元。本次交易完成后，中芯国际将持有中芯北方100.00%的股权，中芯北方将成为公司的全资子公司。 此外，中芯国际公告称，公司全资子公司中芯控股与国家集成电路基金、国家集成电路基金二期等订立新合资合同及新增资扩股协议，以修订前合资合同。 据此，中芯南方注册资本将由65亿美元增加至100.773亿美元。中芯控股、国家集成电路基金、国家集成电路基金二期、国家集成电路基金三期、上海集成 电路基金、上海集成电路基金二期、泰新鼎吉、先导集成电路基金将分别持有中芯南方41.561%、9.392%、14.885%、8.361%、7.939%、11.253%、5.545% 及1.063%股权。 盘面上，截至A股今日收盘，中芯国际股价涨0.33%，报122.5元/股，总市值9800.5亿元。 中芯北方主要为客户提供不同工艺平台的12英寸集成电路晶圆代工及配套服务。本次交易有利于进一步提高中芯国际资产质量、增强业务上的协同性，促进 公司的长远发展。交易前后中芯国际的 ...