证券代码：688018 证券简称：乐鑫科技 乐鑫信息科技（上海）股份有限公司 Espressif Systems （Shanghai） Co., Ltd. （中国（上海）自由贸易试验区碧波路 690 号 2 号楼 204 室） 募集说明书 （申报稿） 保荐人（主承销商） 乐鑫信息科技（上海）股份有限公司 募集说明书（申报稿） 声 明 本公司及全体董事、监事、高级管理人员承诺本募集说明书内容真实、准确、 完整，不存在虚假记载、误导性陈述或重大遗漏，按照诚信原则履行承诺，并承 担相应的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务 会计资料真实、完整。 中国证券监督管理委员会、上海证券交易所对本次发行所作的任何决定或意 见，均不表明其对申请文件及所披露信息的真实性、准确性、完整性作出保证， 也不表明其对公司的盈利能力、投资价值或者对投资者的收益作出实质性判断或 保证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证券依法发行后因发行人经营与收益变化或 ...

Core Viewpoint - The company, VeriSilicon Microelectronics (Shanghai) Co., Ltd., is focused on providing comprehensive chip customization services and semiconductor IP licensing, leveraging its proprietary semiconductor IP to cater to various applications, including AI, consumer electronics, and automotive sectors [1][2][4]. Group 1: Company Overview - The company was established on August 21, 2001, and became a joint-stock company on March 26, 2019, with its shares listed on the Shanghai Stock Exchange under the stock code 688521.SH since August 18, 2020 [1][3]. - The total share capital of the company is 525,713,273 shares, and it operates primarily in the semiconductor industry, providing services such as chip design, modeling, and technical consulting [1][4]. Group 2: Main Business and Services - The company specializes in semiconductor IP, offering a wide range of processor IPs, including graphics, neural network, video, digital signal, image signal, and display processors, along with over 1,600 mixed-signal and RF IPs [1][5][9]. - The main business includes a one-stop chip customization service that encompasses the entire process from design to manufacturing, packaging, and testing, aimed at reducing design risks and shortening development cycles for clients [5][6]. Group 3: Market Position and Financial Performance - In 2023, the company ranked first in the semiconductor IP licensing market in mainland China and eighth globally, with its licensing revenue ranking sixth worldwide [5]. - The company reported a total revenue of 2.68 billion yuan in 2023, with a significant increase in net profit, turning from a loss of 29.65 million yuan in 2022 to a profit of 7.38 million yuan in 2023 [11][14]. Group 4: Research and Development - The company has consistently invested in R&D, with a focus on chip customization technology, software technology, and semiconductor IP technology, accumulating a substantial number of patents and intellectual property rights [10][12]. - As of December 31, 2024, the company had obtained 205 invention patents, 3 utility model patents, and 12 software copyrights, reflecting its commitment to innovation and technology advancement [10][12]. Group 5: Future Plans and Fundraising - The company plans to raise approximately 1.81 billion yuan through a private placement of shares, with the funds allocated to projects in the AIGC and smart mobility sectors, as well as new IP development [22][26]. - The issuance is set to take place on June 12, 2025, with a share price of 72.68 yuan, and the funds will be used to enhance the company's operational capabilities and long-term profitability [22][24].

作 者丨郭聪聪 编 辑丨杨希 近日，中国建筑设计领域迎来了一位"90"后女性新生代领导者。国内首家IPO上市的设计公司 ——中衡设计发布公告称，同意提名创始人冯正功之女、1993年出生的冯嘉音为公司非独立 董事。 在当下中国企业界的接班浪潮中，一个显著趋势正在形成：越来越多优秀的女性继承者正 以"领航者"的姿态，逐渐打破商业世界的性别天花板。无论是执掌千亿资产的商界翘楚，还 是到崭露头角的"90 后"新秀，在企业传承中，女性继承者正在展现独特的"她力量"。 执掌千亿资产女性继承者 从华为孟晚舟到娃哈哈宗馥莉，从美高梅中国何超琼到周大福郑志雯，这些继承者的名字所 代表的已不仅是个人成就，也是一个群体性的商业现象—— 多位女继承者正在成为千亿资产 商业巨轮的掌舵者。 娃哈哈营收重回700亿，是宗馥莉接班后交出的第一份成绩单。1982年出生的宗馥莉，在早年 留学归来后，并未直接进入集团核心管理层，而是先从市场部基层做起，逐步熟悉饮料生 产、供应链管理与渠道布局。她的商业能力，从一手打造的宏胜饮料集团可见一斑：该企业 从一条生产线起步，发展至拥有 20 个生产基地、40 多家子公司及 100 多条生产线的规模， 更在 ...

Core Viewpoint - Suzhou Planning is planning to acquire the controlling stake in Dongjin Aviation Technology, with the announcement made on July 1, 2023, and trading suspension effective from July 2, 2023 [1][9]. Group 1: Acquisition Details - The acquisition will involve issuing shares and cash payments, with a detailed transaction plan expected to be disclosed by July 16, 2023 [1]. - Dongjin Aviation Technology specializes in communication, navigation, and surveillance systems in the air traffic management sector, and is the only company involved in both system construction and general aviation flight service operations in China's low-altitude airspace management reform pilot project [1]. Group 2: Shareholder Changes - Prior to the acquisition announcement, significant changes occurred in Dongjin Aviation Technology's shareholder structure, with major shareholders Zhang Ning and Liu Xiaojie exiting the company on June 6, 2023 [2]. - As of now, Zhang Ning remains the actual controller of Dongjin Aviation Technology, holding 39.57% of the shares, while the new top shareholders include Shi Benning and Wu Xiaolin [2]. Group 3: Financial Performance - Suzhou Planning has faced financial challenges, reporting a cumulative net loss of over 38.95 million from 2018 to 2023, with annual net profits showing consistent losses [5]. - The company's revenue has also declined, with projected revenues of 404 million, 391 million, and 308 million for 2022, 2023, and 2024 respectively, alongside decreasing net profits [5]. - In Q1 2025, Suzhou Planning reported a revenue of 46.25 million, a year-on-year decrease of 18.42%, and a net profit of 3.23 million, down 5.65% year-on-year [6]. Group 4: Industry Outlook - The low-altitude economy is characterized as a policy-driven and technology-driven emerging industry, with potential for significant growth in the next five to ten years as the integration of general aviation and unmanned systems is promoted [6].

Core Viewpoint - The actual controller of Zhuhai Design, Xu Jiang, along with his concerted actors, plans to reduce their shareholding in the company by up to 4.8395 million shares, representing 3% of the total share capital, due to personal funding needs [1] Summary by Relevant Sections - **Share Reduction Plan** - The share reduction will occur within 15 trading days after the announcement and will take place over a period of three months [1] - The reduction will be executed through centralized bidding and block trading methods, with a maximum of 1% of the total share capital being sold via centralized bidding and 2% via block trading [1] - **Reason for Reduction** - The primary reason for the share reduction is the personal funding needs of the shareholders [1] - **Compliance and Commitment** - The shareholders have committed to comply with relevant laws and regulations, and any violation of this commitment will result in liability for compensation [1]

Group 1 - Figma has shifted its Bitcoin reserves from a marginal strategy to a core asset allocation, holding $69.5 million in Bitwise Bitcoin ETF, which constitutes 4% of its $10.7 billion cash reserves [1] - The company's board has authorized $30 million in USDC stablecoin for future Bitcoin investments, with a total investment of $55 million initiated in March 2024, which has appreciated by 27% in just four months, yielding a profit of nearly $14.5 million [1] - In the first half of 2025, public companies purchased a total of 245,000 Bitcoins, a staggering 375% increase compared to the same period last year, surpassing the net inflow of Bitcoin from spot ETFs [1] Group 2 - The SEC is collaborating with exchanges to establish a universal listing framework for cryptocurrency ETFs, which will streamline the approval process for issuers [3] - The new regulations could potentially allow a majority of the top 50 cryptocurrencies to qualify for ETF listings, igniting institutional interest and opening the door for billions in new capital [3] - Grayscale's crypto basket fund has been approved to convert into an ETF, with high probabilities for Solana, Litecoin, and XRP ETFs, indicating a significant shift in the regulatory landscape [3] Group 3 - Corporate purchases accounted for 1.3% of Bitcoin's total circulation in the first half of 2025, a significant increase from 0.19% at the beginning of 2024, suggesting that public companies may soon surpass ETFs as the largest incremental buyers [4] - Despite the surge in corporate buying, Bitcoin spot ETFs have experienced net outflows, indicating a potential disconnect between corporate demand and market sentiment [4] - Standard Chartered has warned that if Bitcoin falls below $90,000, it could trigger a 10% sell-off, highlighting the risks associated with corporate leverage in Bitcoin investments [4] Group 4 - The divergence between corporate buying and ETF outflows suggests underlying capital flows that may not be immediately visible in market price movements [6] - Hong Kong is enhancing its position as a crypto hub by introducing a stablecoin licensing regime and planning to launch Bitcoin and Ethereum spot ETFs [6] - Geopolitical factors, such as tariff policies, are creating short-term volatility in the market, with significant withdrawals from Bitcoin ETFs as deadlines approach [6] Group 5 - The $90,000 mark is identified as a critical psychological threshold for the market, with potential implications for corporate leverage and ETF dynamics [7] - The launch of the first Asian spot ETF could create liquidity effects that impact market behavior [7] - The timing of the SEC's new regulations could serve as a catalyst for alternative cryptocurrency ETFs, further influencing market trends [7] Group 6 - Figma's inclusion of Bitcoin in its IPO filing signifies a broader trend of institutional capital moving from traditional ETFs to corporate balance sheets [9] - The market is currently experiencing a tug-of-war around the $100,000 Bitcoin level, influenced by both regulatory changes and corporate leverage [9] - The convergence of traditional capital and crypto-native assets is leading to a significant transformation in financial strategies [9]

优化交通动线，遵循主通道宽敞、次通道便捷原则。同时，采用环形或回字形的动线设计，避免出现死胡同，让顾客能够轻松逛遍整个市场。此外，在入 口和出口处设置明显的标识，引导人流有序进出，减少人员聚集。 在农贸市场中，每一处的空间都有着重要的商业价值。然而，让许多农贸市场都有着面积有限，效率更低的问题。那么如何打破这一现状，让农贸市场的 每空间都能物尽其用？为此，今天就和大家来聊一聊关于农贸市场设计如何提高农贸市场面积的利用率要点。 合理的功能分区是提升面积利用率的基础。可以将市场划分为交易区、仓储区、加工区、公共服务区四大板块。同时根据农产品类别进行精细划分，方便 顾客快速找到目标商品，又能避免不同品类之间的气味干扰。采用立体式货架，充分利用垂直空间存放货物，减少地面占用面积。 采用模块化摊位，这种摊位可以根据不同的经营需求自由组合和调整，灵活性极高。满足摊主经营的需求。其次，利用立体空间打造多层摊位，上层可以 用来展示商品，下层作为储物空间，增加摊位的展示和存储能力。 利用智能监控系统，可以实时掌握市场内的人流情况，及时调整摊位布局和经营策略。此外，引入智能仓储管理系统，通过扫码入库、出库，提高货物存 取效率，减 ...

今年以来，受益于终端消费市场复苏，半导体行业整体延续高景气度，芯片设计、半导体设备、封测等各环节传递产销两旺的积极信号，多家公司近期披露 的经营业绩都颇为亮眼。广发证券指出，高技术制造业PMI连续4月高于荣枯线，延续较好发展态势。半导体行业在AI等新技术带领下呈现增长动力，半导 体设备领域成长空间明确。 在这样背景下，相关企业也加快了奔赴资本市场的步伐。智通财经APP获悉，据港交所披露，长春长光辰芯微电子股份有限公司(简称"长光辰芯")向港交所 主板递交上市申请，中信证券、国泰君安国际为其联席保荐人。 值得一提的是，2023年6月，公司曾向上交所科创板提交股份上市申请，随后于2025年1月，主动撤回了科创板的上市申请。 那么此次转战港交所，长光辰芯带来了哪些值得关注的亮点呢？ 营收向上 招股书显示，长光辰芯是一家高性能CMOS图像传感器(CIS)提供商。公司一直专注于高性能CMOS图像传感器的研发，提供九大产品系列，超过50款标准产 品，广泛适用于工业成像、科学成像、专业影像和医疗成像等先进技术领域。 其中，高性能CMOS图像传感器为公司最主要的营收来源。细分来看，公司高性能CMOS图像传感器可以按像素排列分 ...

智通财经APP获悉，近日，随着衢州南孔洛嘉旅游发展有限公司（以下简称"南孔洛嘉旅游"）的正式落 地运营，标志着奥雅股份（300949.SZ）在文化旅游领域的又一次重大布局迈入新阶段。 作为深圳洛嘉文化投资管理有限公司与衢州市鹿鸣旅游开发有限公司的合作结晶，南孔洛嘉旅游注册资 本3000万元，其将依托"衢州文化古城旅游区—严家淤岛建设项目"，全面助力衢州古城文化旅游区5A 景区申报工作。据悉，该项目核心板块"南孔洛嘉森乐园"将于今年9月开园，与广大游客朋友见面。 衢州，这座拥有着千年历史文化底蕴的城市，正在经历一场文化旅游的复兴。 严家淤岛建设项目位于衢州主城区三江交汇处，占地约1平方公里，是衢州古城文化旅游区创建国家5A 级旅游景区的重要组成部分，总投资约9.42亿元，建筑面积约1.6万平方米，绿化景观面积约35万平方 米。 该项目基于严家淤良好的生态本底，秉承"还岛于民"的原则，以南孔文化为依托，打造南孔文化体验 地、城市森林会客厅，并以"国内首个新国潮游学目的地"为目标，围绕对历史、艺术、自然、动物、未 来五大主题，规划了儒贤花海、南孔洛嘉森乐园、呦呦动物世界、橘放酒店等多个特色区域。此外，项 目还将植入 ...

Group 1 - Shida Shenghua expects a net loss of 52 million to 60 million yuan for the first half of 2025, a year-on-year decrease of 236.64% to 257.66% [1] - ST Zhizhi's vice president Wang Dong resigned for personal reasons, effective immediately upon delivery of the resignation to the board [1] - Haoyuan Pharmaceutical plans to increase capital by 400 million yuan to its wholly-owned subsidiary through a debt-to-equity swap, raising the registered capital from 400 million to 800 million yuan [1] Group 2 - Longxun Co. announced that shareholders and executives plan to reduce their holdings by up to 2% of the company's shares [2] - Aijian Group confirmed it has not engaged in any stablecoin-related business as of now [3] - Yanghe Co.'s chairman Zhang Liandong resigned due to work adjustments, effective immediately [5] Group 3 - Huanwei New Materials announced a stock suspension due to the major matter that may lead to a change in control [5] - Hualing Cable recently won contracts worth 456 million yuan in the power new energy sector, accounting for 10.97% of its audited revenue for 2024 [6] - Aerospace Changfeng plans to publicly transfer 55.45% of its stake in Aerospace Boke [6] Group 4 - Suzhou Planning is planning to acquire control of Dongjin Aerospace Technology, leading to a stock suspension for up to 10 trading days [6] - Yuexiu Capital intends to increase its stake in Yuexiu Real Estate using up to 204.22 million yuan through the Hong Kong Stock Connect [6] - Baichuan Co.'s actual controller and chairman Zheng Tiejiang is under investigation and has received a detention notice [7] Group 5 - XWANDA plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [8] - ST Aowei reported a loss of approximately 25.04 million yuan in inventory due to poor storage by a third party [8] - Yian Technology plans to increase capital by 120 million yuan to its subsidiary, raising its equity stake from 60% to 72.973% [9] Group 6 - Dongli New Science's wholly-owned subsidiary was applied for bankruptcy reorganization by creditors due to insolvency [11] - Bochuang Technology changed its name to Changxin Bochuang Technology, effective July 2, 2025 [14] - Huayang Co.'s controlling shareholder received a notice of administrative penalty from the China Securities Regulatory Commission [15] Group 7 - Hangzhou Thermal Power's shareholders plan to reduce their holdings by up to 4.09% of the company's shares [16] - Guoke Military Industry's two shareholders plan to reduce their holdings by up to 1.81% of the company's shares [17] - Pangu Intelligent's seven shareholders plan to reduce their holdings by up to 1% of the company's shares [19]