业绩方面，2025年上半年，晶晨股份实现营业收入49.39亿元，同比增长18.6%；归母净利润5.42亿元，同 比增长22.8%。公司表示，业绩增长主要得益于车载及AI智能终端相关芯片出货规模扩大，同时产品结构 持续优化。 业内认为，本次赴港发行H股若顺利完成，将为晶晨股份进一步拓展海外市场、丰富融资渠道提供支持， 有助于巩固其在智能多媒体SoC芯片领域的全球竞争力。（校对/秋贤） （文/罗叶馨梅）9月26日，晶晨股份（688099）公告称，公司已于2025年9月25日向香港联合交易所有限 公司递交发行境外上市股份（H股）并在主板挂牌上市的申请，并已在港交所网站刊登相关申请资料。 公开信息显示，晶晨股份是一家聚焦智能多媒体SoC芯片的设计企业，产品涵盖智能机顶盒、智能电视、 智能音视频系统、车载智能座舱芯片等领域，并已批量应用于国内外知名品牌客户。公司近年来持续加大 研发投入，重点布局AI多媒体处理、超高清显示、车载智能芯片等新兴应用场景，推动产品向高性能、低 功耗方向迭代升级。 ...

（编辑 任世碧） 证券日报网讯 豪威集团9月26日在互动平台回答投资者提问时表示，公司是全球知名提供先进数字成像 解决方案的芯片设计公司，致力于提供图像传感器解决方案、模拟解决方案和显示解决方案。公司产品 已经广泛应用于消费电子和工业应用领域，包括汽车、智能手机、家居安防、医疗、工业/机器视觉、 新兴市场等领域。 ...

Core Viewpoint - Zhongwei Semiconductor (Shenzhen) Co., Ltd. has submitted an application for an IPO on the Hong Kong Stock Exchange, aiming to issue H-shares and list on the main board, which has attracted market attention due to its status as a leading domestic MCU chip design company [1] Financial Health - As of June 30, 2025, the company's debt-to-asset ratio is only 9.26%, significantly lower than the industry average, indicating a rare level of financial stability [2] - The company holds substantial cash and financial assets, with cash and cash equivalents amounting to 428 million yuan and total financial assets exceeding 2 billion yuan, primarily in bank wealth management products and large certificates of deposit [2] - The company's liquidity ratios are impressive, with a quick ratio of 9.60 and a current ratio of 10.70, reflecting strong short-term debt repayment capabilities [2] - In the first half of 2025, the company achieved operating revenue of 504 million yuan, a year-on-year increase of 17.56%, and net profit of 86.47 million yuan, up 100.99% year-on-year [2] Market Position and Revenue Sources - The company's business is highly concentrated in the domestic market, with negligible overseas revenue, contrasting with its stated goal of a "global strategic layout" [3] - In the first half of 2025, revenue from MCU solutions was 378 million yuan, accounting for 75.1% of total revenue, while SoC solutions contributed 112 million yuan (22.3%), and ASIC solutions only 11.05 million yuan (2.2%) [3] - The company's products are primarily focused on home appliances and consumer electronics, ranking first in the Chinese smart home appliance MCU chip market and second in the consumer electronics MCU chip market by revenue in 2024 [3] IPO Fund Utilization Concerns - The IPO proceeds are intended for enhancing R&D capabilities, strategic investments and acquisitions, global business development, and general corporate purposes [4] - Market analysts question the necessity of equity financing for a company with substantial cash reserves and low debt levels, suggesting that the company could fund its growth plans using its own resources [4] - Critics express concerns that large-scale equity financing could dilute existing shareholders' equity and reduce return on equity, given the company's already healthy financial status [4] Competitive Landscape and Market Growth - The domestic MCU market is highly competitive, with over 400 manufacturers, leading to intense price competition and low profit margins in the low-end market [5] - According to Frost & Sullivan, the Chinese MCU market is projected to grow from 56.8 billion yuan in 2024 to 96.9 billion yuan in 2029, with a compound annual growth rate of 11.3%, driven primarily by the automotive electronics sector [6] - The company is actively transitioning to the high-end market, focusing on automotive-grade control chips, with significant revenue growth in industrial control products (31.6% year-on-year) and automotive electronics (44.3% year-on-year) in the first half of 2025 [6] Strategic Considerations - Supporters of the IPO argue that it is part of the company's strategic layout, facilitating smoother connections with overseas investors and strengthening global business capabilities [7] - However, critics view it as a potential over-financing move, raising concerns about the efficient use of funds and the risk of idle capital if the company cannot effectively deploy the raised capital [7] - The company must demonstrate the rationale behind its financing plans and ensure efficient fund utilization to avoid falling into the "over-financing" criticism [7]

资料显示，联芸科技(杭州)股份有限公司位于浙江省杭州市滨江区西兴街道阡陌路459号C楼C1-604室， 成立日期2014年11月7日，上市日期2024年11月29日，公司主营业务涉及联芸科技是一家提供数据存储 主控芯片、AIoT信号处理及传输芯片的平台型芯片设计企业。主营业务收入构成为：数据存储主控芯 片产品85.68%，AIoT信号处理及传输芯片产品11.77%，其他2.55%。 截至9月19日，联芸科技股东户数1.53万，较上期增加5.76%；人均流通股4585股，较上期减少5.45%。 2025年1月-6月，联芸科技实现营业收入6.10亿元，同比增长15.68%；归母净利润5613.50万元，同比增 长36.38%。 机构持仓方面，截止2025年6月30日，联芸科技十大流通股东中，招商丰盈积极配置混合A（009362） 位居第九大流通股东，持股32.08万股，为新进股东。长城久嘉创新成长混合A（004666）退出十大流通 股东之列。 9月25日，联芸科技跌2.08%，成交额4.52亿元。两融数据显示，当日联芸科技获融资买入额9404.52万 元，融资偿还7303.35万元，融资净买入2101.17万元。 ...

证券代码： 300148 证券简称：天舟文化 天舟文化股份有限公司 投资者关系活动记录表 编号：2025-004 | 投资者关系活动类 □ | 特定对象调研 分析师会议 □ | | --- | --- | | 别 媒体采访 □ | 业绩说明会 ☑ | | □ | 新闻发布会 路演活动 □ | | □ 现场参观 | | | □ 其他 | （请文字说明其他活动内容） | | 参与单位名称及人 | 线上参与天舟文化（300148）2025 年投资者集体接待日暨半年度业绩说 | | 员姓名 | 明会的全体投资者 | | 时间 年 2025 | 月 日 （周五）14:00-17:00 9 19 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） 采用 | | | 网络远程的方式召开投资者集体接待日暨业绩说明会 | | 上市公司接待人员 | 董事会秘书、财务总监 刘英女士 | | 姓名 | 证券事务代表、董秘处主任 姜玲女士 | | | 1、请问贵公司今年有增发或重组的安排吗？ | | | 回复：您好，公司将紧紧围绕"大文化+科技"的发展战略，积极关注 | | | "AI+出版 ...

机构持仓方面，截止2025年6月30日，盛景微十大流通股东中，中信保诚多策略混合(LOF)A（165531） 位居第五大流通股东，持股66.06万股，为新进股东。大成中证360互联网+指数A（002236）位居第八 大流通股东，持股41.77万股，为新进股东。 责任编辑：小浪快报 资料显示，无锡盛景微电子股份有限公司位于江苏省无锡市新吴区景贤路6号中国物联网国际创新园 H7，成立日期2016年4月8日，上市日期2024年1月24日，公司主营业务涉及公司是一家具备高性能、超 低功耗芯片设计能力的电子器件提供商。主营业务收入构成为：电子控制模块80.16%，放大器7.24%， 其他5.03%，其他(补充)3.91%，起爆控制器3.66%。 截至9月20日，盛景微股东户数1.56万，较上期减少12.08%；人均流通股4087股，较上期增加13.74%。 2025年1月-6月，盛景微实现营业收入2.35亿元，同比增长2.40%；归母净利润1437.78万元，同比增长 57.66%。 分红方面，盛景微A股上市后累计派现5033.35万元。 9月24日，盛景微涨2.74%，成交额1.80亿元。两融数据显示，当日盛景微获融 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][7]. Core Views - The launch of the new ASIL-D functional safety grade automotive SBC SC6259XQ will support automotive intelligence, integrating multiple power sources in a single chip [2][3]. - The company is experiencing a growth phase with a 21.08% year-on-year revenue increase to 785 million yuan in Q2 2025, driven by product line expansion and entry into high-end consumer electronics and smart automotive electronics [3]. - Future revenue projections are optimistic, with expected revenues of 3.31 billion yuan in 2025, 4.21 billion yuan in 2026, and 5.30 billion yuan in 2027, alongside net profits of 331 million yuan, 452 million yuan, and 608 million yuan respectively [4][6]. Financial Forecasts and Metrics - Revenue for 2024 is projected at 2.567 billion yuan, with a growth rate of 44.19%, and is expected to grow at rates of 28.78%, 27.29%, and 25.94% in the following years [6][13]. - The company's EBITDA is forecasted to increase from 267.87 million yuan in 2024 to 703.60 million yuan in 2027 [6]. - The net profit margin is expected to stabilize around 10% by 2027, with a projected net profit of 607.60 million yuan [6][13]. - The company’s P/E ratio is projected to decrease from 71.05 in 2024 to 35.89 in 2027, indicating potential valuation improvement [6][13].

阿里巴巴正在将英伟达的一套用于所谓Physical AI的人工智能(AI)开发工具整合到其云软件平台 中。 这家总部位于杭州的公司的云智能平台将为客户提供使用英伟达工具为物理世界构建AI的选择， 涵盖从人形机器人到自动驾驶汽车等各个领域。这是AI开发领域两大领军企业之间的一次引人注目的 合作，将这家美国芯片设计公司与中国顶尖的云计算和服务提供商之一强强联手。 该公司周三在杭州举行的年度云栖大会上表示，阿里云的AI平台将把完整的英伟达Physical AI软件 栈纳入其开发者选项菜单。就在这一消息发布前不久，首席执行官吴泳铭宣布计划将阿里巴巴在AI基 础设施方面的投资从此前公布的3800亿元人民币(530亿美元)提高，从而推动该公司股价一度升至近四 年来的最高水平。 (责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

Core Viewpoint - The report from Zhongyou Securities indicates that Huadong Heavy Machinery has experienced a significant increase in net profit attributable to the parent company in the first half of the year, driven by improved profitability and reduced expenses [1] Group 1: Financial Performance - The company's net profit attributable to the parent company for the first half of 2025 reached 362 million yuan, showing a substantial year-on-year increase [1] - Profitability has improved compared to the previous year, while expense spending has decreased [1] Group 2: Revenue Sources - Container handling equipment (port machinery) is currently the main source of revenue for the company [1] - Key products include quay cranes, rail-mounted gantry cranes, and rubber-tired gantry cranes [1] Group 3: Market Outlook - The company has a sufficient backlog of orders and is expected to benefit further from the improving shipping market and the automation and intelligent upgrades of port machinery [1] Group 4: Strategic Expansion - In October 2024, the company acquired Xiamen Ruixin Tuchip Technology Co., Ltd., expanding into GPU-based chip design and solution business [1] - Ruixin Tuchip has also won a bid and signed a framework procurement project for power control chips with Southern Power Grid, with a contract amount of approximately 19.74 million yuan, and has begun to supply [1] Group 5: Investment Rating - The report initiates coverage with an "Overweight" rating for the company [1]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [1][7]. Core Insights - The company has shown a significant increase in its non-recurring net profit, with a year-on-year growth of 59.89% in the first half of 2025, despite a decline in overall revenue due to the divestment of its CNC machine tool business [4]. - The gross profit margin improved to 26.13%, reflecting a 24.6 basis point increase, while the net profit margin also saw a slight increase [4]. - The company is well-positioned in the container handling equipment sector, with a strong order backlog and increasing market share both domestically and internationally [5]. - The acquisition of Xiamen Ruixin Tuxin Technology Co., Ltd. is expected to drive growth in the GPU chip design and solutions business, targeting various industries [6]. Company Overview - The latest closing price is 9.19 yuan, with a total market capitalization of 9.3 billion yuan [3]. - The company has a total share capital of 1.008 billion shares, with a debt-to-asset ratio of 50.8% and a price-to-earnings ratio of 75.27 [3]. Financial Projections - Revenue projections for 2025-2027 are 11.39 billion, 14.50 billion, and 18.71 billion yuan, with expected growth rates of -3.82%, +27.34%, and +28.98% respectively [7]. - The forecasted net profit for the same period is 1.02 billion, 1.48 billion, and 2.30 billion yuan, with growth rates of -17.30%, +45.18%, and +55.66% respectively [7]. - The corresponding price-to-earnings ratios are projected to be 91.01, 62.69, and 40.27 [7].