Core Viewpoint - The company intends to conduct foreign exchange hedging activities to mitigate currency risk arising from international operations and enhance financial stability [1][5][6] Transaction Overview - The primary purpose of the foreign exchange hedging is to protect against the adverse effects of currency fluctuations on the company's profitability due to overseas transactions [1][2] - The company plans to use various derivatives such as forwards, swaps, and options to manage foreign exchange risk associated with import materials and overseas payments [2][3] - The total amount for the foreign exchange hedging activities is capped at 36 million USD or equivalent foreign currency for the year 2025 [2] - The funding for these hedging activities will come from the company's own funds, not from raised capital [2][3] Risk Analysis - The company acknowledges potential risks associated with foreign exchange hedging, including market volatility and the complexity of currency movements [3][4] - The company will only engage with reputable financial institutions for these transactions to minimize credit risk [4] Risk Control Measures - The company has established strict internal controls and procedures to ensure that all hedging activities are conducted prudently and do not involve speculative trading [4][5] - Regular reporting on the status of foreign exchange risk exposure will be conducted to ensure timely identification of any issues [4] Impact on the Company - The foreign exchange hedging activities are expected to enhance the company's financial stability and protect against adverse currency movements, thereby safeguarding shareholder interests [5][6] - The company will adhere to relevant accounting standards for the recognition and measurement of financial instruments related to these hedging activities [5] Approval Process - The board of directors approved the foreign exchange hedging proposal during a meeting held on June 20, 2024, and it does not require further shareholder approval [5][6] Sponsor's Review Opinion - The sponsor believes that the foreign exchange hedging activities align with the company's operational needs and will help mitigate risks without harming the interests of the company or minority shareholders [6]

Core Points - The company has conducted a review of the list of incentive recipients for the 2025 restricted stock incentive plan, confirming compliance with relevant laws and regulations [1][2][3] - The incentive plan will grant 1,186,440 shares of restricted stock at a price of 72.81 yuan per share to 72 eligible recipients [3] Summary by Sections - **Eligibility Criteria**: The company outlined conditions under which individuals cannot be included as incentive recipients, including being deemed inappropriate by the stock exchange or regulatory bodies within the last 12 months, and other legal disqualifications [2] - **Approval of Incentive Plan**: The board's compensation and assessment committee has approved the list of recipients and set the grant date for June 20, 2025 [3]

Core Viewpoint - The company has approved the use of temporarily idle raised funds for cash management, aiming to enhance the efficiency of fund utilization while ensuring the normal operation of investment projects [1][6]. Summary by Sections 1. Basic Situation of Raised Funds - The company was approved to issue 20,000,000 shares, raising a total of RMB 2,314,200,000, with a net amount of RMB 2,145,746,574.65 after deducting issuance costs [2][3]. 2. Cash Management of Idle Raised Funds - The company plans to use up to RMB 25,000 million of idle raised funds for cash management, with a usage period from August 4, 2025, to August 3, 2026, not exceeding 12 months [4][5]. - Additionally, the company may use up to RMB 85,000 million of temporarily idle funds for the same purpose, under the same time frame and conditions [4][5]. 3. Investment Products and Safety - The company will invest in high-safety, liquid, principal-protected financial products, avoiding investments in stocks, derivatives, or unsecured bonds [5][6]. 4. Implementation and Disclosure - The company’s general manager or authorized agents are responsible for managing the investment of idle funds, with the finance department organizing the implementation [2][5]. - The company will comply with relevant regulations for timely information disclosure regarding the cash management activities [5][6]. 5. Monitoring and Opinions - The supervisory board supports the cash management plan, stating it will not affect the normal use of raised funds and will enhance fund efficiency [6][7]. - The sponsor, Guotai Junan Securities, has confirmed that the plan adheres to necessary approval procedures and regulations, ensuring it does not alter the intended use of raised funds [7][8].

Overview - The company aims to mitigate foreign exchange risks due to the complex international macroeconomic environment and the uncertainty in global financial markets and exchange rates [1][2] Transaction Details - The company and its subsidiaries plan to use derivatives such as forwards, swaps, options, and combinations thereof to hedge against foreign exchange risks arising from import materials and overseas payments [2][3] - The total amount for the foreign exchange hedging activities is capped at 36 million USD or equivalent foreign currency for the year 2025, with a rolling usage within a 12-month period from August 4, 2025, to August 3, 2026 [2][3][4] - The funding for these hedging activities will come from the company's own funds, without utilizing raised funds [2] Risk Management - The company will adhere to strict hedging principles, ensuring that all foreign exchange hedging activities are based on actual business operations and not for speculative purposes [3][5] - The company has established internal control measures to manage risks associated with foreign exchange derivatives, including setting appropriate stop-loss limits and ensuring compliance with internal procedures [5][6] Impact on Financial Stability - The foreign exchange hedging activities are intended to enhance the company's financial stability and protect against adverse effects from exchange rate fluctuations [6][7] - The company will follow relevant accounting standards for the recognition and measurement of financial instruments related to these hedging activities [7][8] Endorsement from Sponsor - The sponsor has confirmed that the foreign exchange hedging activities align with the company's operational needs and will help mitigate risks associated with foreign exchange market fluctuations, thereby protecting shareholder interests [8]

Group 1 - The company held its fourth supervisory board meeting on June 20, 2025, with all three supervisors participating in the vote, confirming the legality and validity of the resolutions passed [1][2] - The supervisory board approved the grant of restricted stock to 72 eligible recipients at a price of 72.81 yuan per share, totaling 1,186,440 shares [1][2] Group 2 - The supervisory board also approved the use of part of the idle raised funds for cash management, which is expected to enhance the efficiency of fund utilization and generate investment returns without harming the interests of the company or minority shareholders [2] - The authorized period for this cash management is from August 4, 2025, to August 3, 2026, with a maximum amount not exceeding 12 months for rolling use [2]

据港交所文件：长春长光辰芯微电子股份有限公司向港交所提交上市申请书。 ...

Core Viewpoint - The EU negotiators aim to prevent the U.S. from imposing higher tariffs on automobiles, pharmaceuticals, and microelectronics by establishing unified tariffs [1] Group 1 - The EU is seeking to unify tariffs as a strategy to avoid increased tariffs from the U.S. on key sectors [1]

Core Viewpoint - Suzhou Minxin Microelectronics Technology Co., Ltd. plans to cancel 62,694 shares repurchased from its special securities account, reducing its total registered capital from 56,066,784 yuan to 56,004,090 yuan, with the cancellation date set for June 16, 2025 [1][5]. Group 1: Share Repurchase and Cancellation - The company held meetings on April 9, 2025, April 28, 2025, and the first extraordinary shareholders' meeting of 2025, where it approved the change of purpose for repurchased shares from employee stock ownership plans to cancellation and capital reduction [2][4]. - The repurchase plan involved buying back shares at a price not exceeding 105 yuan per share, with a total repurchase fund between 10 million yuan and 20 million yuan, executed within six months from the board's approval [3][4]. Group 2: Share Structure Changes - Following the cancellation, the total share capital will decrease from 56,066,784 shares to 56,004,090 shares, with the canceled shares representing 0.79% of the total capital [5][6]. - The share structure will consist entirely of unrestricted circulating shares post-cancellation, maintaining the total share count at 56,004,090 [5]. Group 3: Impact and Future Arrangements - The decision to change the purpose of repurchased shares and proceed with cancellation is aimed at protecting investor interests and enhancing investor confidence, ultimately benefiting shareholder returns [6]. - The company asserts that this action complies with relevant laws and regulations and will not adversely affect its financial condition or operational results [6].

Core Insights - Guangzhou's private economy has shown significant growth, with the added value of the private economy accounting for 43.5% of GDP in Q1 2024, the highest in five years [6][12] - The implementation of the "Guangzhou Support for Private Economic Development Regulations" has led to the establishment of over 350 million private enterprises, with new registrations leading among major cities [6][12] - The city has cultivated 106 national-level specialized and innovative "little giant" enterprises in 2024, with 6 private companies newly listed domestically and abroad, and 24 companies included in the 2024 Global Unicorn List [17] Company Developments - 德擎光学 has achieved a breakthrough in domestic laser welding detection technology, with its online defect detection system completing processes in under 50 milliseconds and reducing false detection rates [9] - 纽恩泰 has developed AI-driven heat pump technology, overcoming challenges in extreme cold environments and improving product efficiency by 27% [10] - 新莱福 has filled domestic gaps in new materials, with innovative magnetic display materials that allow for easy installation and removal, achieving over 30 iterations in product development [10] - 苇渡微电子 focuses on domestic alternatives for display driver chips, achieving a threefold increase in output in 2024 and surpassing 100 million yuan in industrial output [11] - 维德科技 specializes in wireless communication technology, providing solar-powered communication devices that operate without fiber optics or electricity, enhancing coverage in remote areas [12] - 魅视科技 integrates AI with distributed audiovisual products, developing edge computing solutions for urban management and public safety applications [13] - 宏景科技 has developed smart city solutions that significantly reduce operational costs and energy consumption in data centers [14] Policy and Support Initiatives - Guangzhou has established a comprehensive support system for private enterprises, focusing on land, finance, talent, and technology to promote high-quality development [15][16] - The "信易贷" platform has been launched to address financing challenges for small and medium-sized enterprises, serving over 920,000 businesses and disbursing over 270 billion yuan in loans [16] - The city has implemented policies to reduce industrial land costs by an average of 40% through innovative land transfer and property division models [15]

思瑞浦微电子科技（苏州）股份有限公司 2025 年第二次临时股东会会议资料 证券代码：688536 证券简称：思瑞浦 转债代码：118500 转债简称：思瑞定转 思瑞浦微电子科技（苏州）股份有限公司 会议召开时间：2025 年 6 月 20 日 思瑞浦微电子科技（苏州）股份有限公 东会会议资料 司 2025 年第二次临时股 目 录 议案一：关于《公司 2025 年限制性股票激励计划（草案）》及其摘要的议案 议案二：关于《公司 2025 年限制性股票激励计划实施考核管理办法》的议 议案三：关于提请股东会授权董事会办理限制性股票激励计划相关事宜的议 思瑞浦微电子科技（苏州）股份有限公司 2025 年第二次临时股东会会议资料 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会 议的顺利进行，根据《中华人民共和国公司法》 （以下简称"《公司法》"） 《中华 人民共和国证券法》 （以下简称"《证券法》"） 《上市公司股东会规则》以及《思 瑞浦微电子科技（苏州）股份有限公司章程》（以下简称"《公司章程》"）等相 关规定，思瑞浦微电子科技（苏州）股份有限公司（以下简称"公司"）特制定 本次股东会会议须知： ...