Core Viewpoint - Guomin Technology Co., Ltd. (国民技术) has submitted its prospectus for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor. The company is a platform-based integrated circuit design firm focused on providing high-security, high-reliability, and highly integrated control chips and system solutions for various smart terminals [1][3]. Company Overview - Guomin Technology is ranked among the top five Chinese companies in the global platform MCU market by revenue in 2024, and it ranks first in the Chinese MCU market with built-in commercial encryption algorithm modules [3]. - The company was established in March 2000 and is located in Shenzhen, Guangdong Province, with a registered capital of approximately 580 million RMB [5]. Financial Performance - The company's revenue for 2022, 2023, and 2024 is approximately 1.195 billion RMB, 1.037 billion RMB, and 1.168 billion RMB, respectively. The gross profit for the same years is approximately 426 million RMB, 18 million RMB, and 182 million RMB, while the net losses are approximately 18.93 million RMB, 594 million RMB, and 256 million RMB [4][6]. - Adjusted net profits (losses) according to non-IFRS measures for 2022, 2023, and 2024 are approximately 119 million RMB, -591 million RMB, and -192 million RMB, respectively, primarily due to the impact of share-based payments [7]. Product Sales and Market Trends - The sales volume of chip products increased from 136 million units in 2022 to 190 million units in 2023, and is expected to reach 341 million units in 2024. However, revenue from chip products decreased by 8.96% in 2023 to approximately 417 million RMB, with a projected increase of 33.22% in 2024 to about 556 million RMB [8]. - The sales volume of artificial graphite products increased from 14,000 tons in 2022 to 19,600 tons in 2023, and is expected to reach 26,500 tons in 2024, attributed to customer trust in the company's quality products [8]. Market Outlook - The global MCU market is projected to grow from approximately 29.9 billion USD in 2024 to about 48 billion USD by 2029, with a compound annual growth rate (CAGR) of 9.9% [3].

当前，南沙系统推进海港、空港、数港、金融港、人才港"五港联动"发展策略，将建设"国际数港"作为关键一环，力争在数字经济领域跻身上游。南沙官方 介绍，此次设立数字产业基金，目的是深化资金活水赋能，并在区内积极利用QFLP试点政策引导境外资金"投进来"，为数字创新注入国际资本动能。通过 资金投入，一方面积极引入全球优质数字产业企业扎根南沙，另一方面全力培育本土数字产业潜力股，为企业提供从初创到成长、壮大的全周期资金支持。 随着政策"指南针"和资本"助推器"搭建成型，一批优质项目加速落地。杭州优科达人力资源产业园项目、帝聘信息华南总部项目、青岛城市大脑华南总部项 目、中兴科工智慧城市南方总部项目、360粤港澳大湾区数字安全创新总部项目等20个项目现场签约，总投资合计154亿元，涵盖数字经济、智慧城市、产业 升级等多个领域，令南沙数港的产业集聚效应增强。 南都讯 记者莫郅骅 6月18日，广州南沙国际数港高质量发展大会举办，目标规模100亿元的数字产业基金正式落地，首期规模为10亿元。 记者现场获悉，该基金由广州产投资本与南沙科金控股集团联手设立，计划围绕数字经济、人工智能等战略性新兴产业，重点投向软件和信息技术、半导 ...

母基金规模50亿元，主要投资于集成电路专用装备与材料、高端通用芯片研发设计、硅光芯片、 量 子 芯 片 、 第 三 代 半 导 体 、 高 端 功 率 半 导 体 、 EDA 等 领 域 。 围 绕 江 苏 省 "1650" 产 业 体 系、"51010"战略性新兴产业集群及《打造具有全球影响力的产业科技创新中心行动方案》明确的 13个新兴产业领域中的集成电路产业开展投资，坚持"投早、投小、投科技"，推动产业链强链补 链延链。 公告指出，产业子基金直接投资无锡市内企业，且在基金存续期内企业成长为国家级专精特新小巨 人企业的，返投认定金额按本基金投资金额的150%计算；产业子基金投资的企业在基金存续期内 在境内外股票交易所上市的，返投认定金额按本基金投资金额的200%计算。 为贯彻落实江苏省委省政府部署要求，发挥长期资本、耐心资本、战略资本作用，促进江苏省战略 性新兴产业发展，着力打造发展新质生产力的重要阵地，江苏省战略性新兴产业母基金（以下简称 省级母基金）与无锡市共同出资设立的江苏无锡集成电路产业专项母基金（有限合伙）（以下简称 产业专项母基金）现公开遴选产业子基金管理机构。 来源：锡创投 对接需求请扫码 ...

Group 1 - Huawei's recent patent application for a "four-chip" packaging design has garnered attention, potentially resembling NVIDIA's Rubin Ultra architecture, indicating Huawei's commitment to developing advanced packaging technology [1] - The Guangzhou Development Zone has issued policies to support the high-quality development of the integrated circuit industry, aiming to establish a core area for China's integrated circuit sector [1] - Advanced packaging technology is seen as a crucial method to enhance chip performance and reduce costs, particularly for AI training chips and automotive-grade SoCs, with major domestic packaging and wafer factories improving 2.5D packaging processes and expected to scale up production in the second half of the year [1] Group 2 - The advanced packaging materials market is characterized by high technical barriers and is largely dominated by foreign companies, but the domestic production of these materials is expected to accelerate due to the shift of global semiconductor capacity to China and considerations of supply chain security and cost control [2] - Key companies in the advanced packaging sector include Changdian Technology, Weicai Technology, Yongxi Electronics, and Huada Technology, indicating a competitive landscape in the industry [3]

甬矽电子（宁波）股份有限公司 关于2025年上半年度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 本公告所载甬矽电子（宁波）股份有限公司（以下简称"公司"）2025年上半年度主要经营数据为初步核 算数据，未经会计师事务所审计，具体数据以公司披露的2025年半年度报告为准，提请投资者注意投资 风险。 一、2025年半年度主要经营数据 证券代码：688362 证券简称：甬矽电子 公告编号：2025-043 1、2025上半年，随着全球终端消费市场出现回暖，集成电路行业景气度明显回升，在AI"创新驱动"的 周期下，新应用场景渗透率提升，下游需求稳健增长。 2、公司核心客户群竞争力持续增强，市场份额逐步提升，公司伴随客户一同成长；此外，公司客户结 构持续优化，海外大客户拓展、部分原有客户的份额提升使得公司营收规模持续增长。 3、公司晶圆级封装、汽车电子等产品线持续丰富，"Bumping+CP+FC+FT"的一站式交付能力不断提 升；先进封装产品线稼动率持续上升，成熟产品线稼动率饱满，整体稼动率稳中向好。上述因 ...

证券代码：688362 证券简称：甬矽电子 公告编号：2025-043 甬矽电子（宁波）股份有限公司 关于2025年上半年度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 。 本公告所载甬矽电子（宁波）股份有限公司（以下简称"公司"）2025年上半年度 主要经营数据为初步核算数据，未经会计师事务所审计，具体数据以公司披露的2025 年半年度报告为准，提请投资者注意投资风险。 一、2025年半年度主要经营数据 经公司财务部初步测算，预计2025年半年度实现营业收入190,000.00万元到 210,000.00万元，较上年同期增长16.60%到28.88%。 二、业绩增长的主要原因 2025年上半年，公司营收规模同比增长。主要得益于以下几个方面： 1、2025上半年，随着全球终端消费市场出现回暖，集成电路行业景气度明显回 升，在AI"创新驱动"的周期下，新应用场景渗透率提升，下游需求稳健增长。 2、公司核心客户群竞争力持续增强，市场份额逐步提升，公司伴随客户一同成 长；此外，公司客户结构持续优化，海外大客 ...

Group 1 - The article discusses the recent release of policies aimed at supporting the high-quality development of the integrated circuit industry in Guangzhou Development Zone and Huangpu District [1] - It emphasizes the encouragement of enterprises to develop EDA (Electronic Design Automation) software and key IP (Intellectual Property) cores for advanced design applications [1] - The policies aim to strengthen the research and development of key core technologies and promote the application of domestic EDA and IP, creating a tool software system with independent intellectual property rights [1] Group 2 - The initiative includes financial support for companies that purchase EDA tools and IP licenses from non-affiliated integrated circuit enterprises or institutions, with a cumulative annual procurement amount exceeding 500,000 yuan [1] - Eligible companies can receive a subsidy of up to 30% of their actual procurement amount for the year, with a maximum subsidy of 1 million yuan per company annually [1]

Core Viewpoint - Jiewa Microelectronics Co., Ltd. has officially commenced its IPO journey on the Hong Kong Stock Exchange, focusing on becoming a leader in the global analog integrated circuit industry through its innovative and efficient product offerings [2]. Company Overview - Jiewa operates as a virtual IDM model, specializing in the research and development of analog integrated circuits, with a comprehensive core technology architecture that includes process, integrated circuit design, and system definition [2]. - The company offers a wide range of analog integrated circuit products, with approximately 2,200 models available for sale, including over 2,000 power management integrated circuit models, achieving industry-leading status in 2024 [2][4]. Market Position - According to Frost & Sullivan, Jiewa ranks eighth globally and fourth among Chinese analog integrated circuit companies in terms of revenue from power management integrated circuits in 2024 [3]. - In the Chinese market, Jiewa ranks sixth globally and second among local companies for DC-DC integrated circuit revenue in 2024 [3]. - The company also ranks fifth globally and second in China for revenue from power management integrated circuits in the communications market, and sixth globally and second in China for the computing and storage market [3]. Financial Performance - Jiewa's revenues for the years 2022, 2023, and 2024 were RMB 1,447.7 million, RMB 1,296.7 million, and RMB 1,678.8 million, respectively, indicating strong revenue growth in 2024 due to increased demand across various sectors [4]. - The company has significantly invested in R&D, with expenditures of RMB 304.7 million, RMB 499.4 million, and RMB 619.3 million for the years 2022, 2023, and 2024, representing 21.0%, 38.5%, and 36.9% of total revenue, respectively [4]. - As of December 31, 2024, Jiewa employed 776 R&D personnel, accounting for over 62.1% of its total workforce, with approximately 62.9% holding master's degrees or higher [4].

Group 1 - The Shanghai Stock Exchange's Sci-Tech Innovation Board (STAR Market) has officially celebrated its 6th anniversary, emphasizing its focus on "hard technology" with over 588 listed companies, predominantly in integrated circuits, biomedicine, and high-end manufacturing, which account for over 60% of the total [2] - The integrated circuit sector on the STAR Market has 119 companies, representing a significant portion of A-share listed companies in the same category, covering the entire supply chain from chip design to packaging and testing [2] - The biomedicine sector includes 113 listed companies focusing on treatments for cancer, hepatitis B, hepatitis C, and AIDS, establishing itself as a major listing venue globally outside the US and Hong Kong [2] Group 2 - The top ten weighted stocks in the STAR Market index account for 22.3% of the index, with notable companies including Haiguang Information, Cambricon, and SMIC [4] - The Huaxia STAR Market ETF closely tracks the STAR Market Composite Index, which reflects the overall performance of eligible STAR Market listed companies, including dividend income [3][4] Group 3 - Investment sentiment in the technology sector remains cautious due to trade uncertainties, but there is a consensus that trade policies will not revert to earlier unfavorable conditions [3] - Artificial intelligence is identified as a key technological change, with expectations for market focus to shift back to infrastructure development and application realization in the latter half of the year [3] - There is an ongoing emphasis on domestic substitution processes within the technology supply chain, particularly in semiconductor design, equipment, and manufacturing [3]

Core Viewpoint - Xin Heng Hui Electronics Co., Ltd. (referred to as "Xin Heng Hui") has initiated its IPO process on the Shenzhen Stock Exchange's ChiNext board, with an offering price of 12.80 yuan per share and a total fundraising amount of approximately 767 million yuan [1][3]. Company Overview - Xin Heng Hui was established in December 2017, with a registered capital of approximately 180 million yuan, and is primarily engaged in the research, production, sales, and packaging testing services of integrated circuit materials [8][11]. - The company’s main business includes smart card modules, etching lead frames, and IoT eSIM chip packaging services [11]. Financial Performance - Xin Heng Hui's projected revenues for 2022, 2023, and 2024 are approximately 684 million yuan, 767 million yuan, and 842 million yuan, respectively, with net profits of about 111 million yuan, 153 million yuan, and 186 million yuan [11][12]. - The company anticipates a revenue increase of 13.56% in 2025, reaching approximately 956 million yuan, with a net profit forecast of about 195 million yuan, reflecting a 5.10% year-on-year growth [12][13]. Shareholding Structure - The major shareholders of Xin Heng Hui include Yu Renrong and Ren Zhijun, who are the controlling shareholders, with Yu holding 31.41% and Ren holding 16.21% of the shares [10][11]. - Ren Zhijun plans to use dividends from the company to repay a significant debt incurred from borrowing funds for acquiring shares, which may affect his shareholding percentage post-IPO [5][11]. Regulatory Scrutiny - The company faced scrutiny from the listing committee regarding its largest customer relationship and the stability of its control structure, particularly concerning Ren Zhijun's past roles and financial arrangements with Yu Renrong [3][4]. - Xin Heng Hui has committed to providing detailed explanations regarding its financial practices and the rationale behind its pricing strategies to address the concerns raised by the listing committee [4][5].