Board Restructuring - The company held its 2024 Annual General Meeting on June 18, 2025, where the 10th Board of Directors was elected [1] - Non-independent directors elected include Zhang Wei, Shen Lei, Yan Na, Zhuang Qifei, Zhang Rui, and Song Jiale; independent directors include Shi Yanling, Wang Meijuan, and Hu Xue [1] - Zhang Wei was elected as the Chairman of the 10th Board, with various specialized committees formed, ensuring independent directors hold a majority in key committees [1] Senior Management Appointments - Zhang Wei was appointed as the General Manager, with Shen Lei as Executive Deputy General Manager, Diao Linshan as Deputy General Manager, and Jin Jianwei as Chief Financial Officer [2] - Zheng Kezhen was appointed as the Secretary of the Board, with all senior management meeting the qualifications required by relevant laws and regulations [2] Departures of Previous Board Members - Following the election, several directors and senior management members, including Jiang Guoxing, Shi Lei, and Yu Jun, will no longer serve on the board [3][2] Acknowledgment of Contributions - The company expressed gratitude for the contributions made by the departing members of the 9th Board of Directors and senior management [3]

Core Viewpoint - The company held its second extraordinary general meeting of shareholders in 2025, where significant resolutions regarding the issuance of H shares and listing on the Hong Kong Stock Exchange were approved [1][3][4]. Group 1: Meeting Procedures - The sixth board of directors convened on May 23, 2025, to decide on the meeting, and the notice was published on May 31, 2025, detailing the time, location, and agenda [3][4]. - The meeting was held on June 18, 2025, at 14:00 in Shanghai, combining both on-site and online voting methods [3][4]. Group 2: Attendance and Voting - A total of 2,096 participants attended the meeting, holding 580,171,168 shares, which represents a significant portion of the voting rights [4][5]. - The online voting system allowed 2,085 shareholders to cast votes, representing 20.1694% of the total voting rights [4][5]. Group 3: Voting Results - The proposal for issuing H shares and listing on the Hong Kong Stock Exchange received 546,537,622 votes in favor, accounting for a majority of the votes cast [6][7]. - The resolutions regarding the use of proceeds from the H share issuance and related governance changes were also passed with overwhelming support from minority investors, with over 99% voting in favor [8][12][13].

Core Viewpoint - The company, Shanghai Zhaoxin Integrated Circuit Co., Ltd., has officially received acceptance for its IPO application on the Sci-Tech Innovation Board, marking its entry as a "hard technology" enterprise in the market [1] Company Overview - Zhaoxin Integrated has been deeply engaged in the industry for many years, mastering core technologies in the design and development of general-purpose processors and supporting chips, positioning itself as a leading CPU design company in China that is compatible with multiple fields including desktop PCs, servers, workstations, and embedded systems [1] - The company has established a comprehensive and professional R&D team focused on the key core technologies of general-purpose processor chip development, with a fully autonomous design process and environment [1] - Zhaoxin has achieved the definition, expansion, and innovation of its own instruction set, fully mastering CPU core design methods and independently developing CPU core microarchitectures [1] Market Position and Achievements - In 2024, Zhaoxin's CPUs are expected to lead in market share among domestic desktop PC manufacturers, including Lenovo, Softcom, Unisoc, Ascend, and Vision Source, establishing a leading market position in the domestic desktop PC market [2] - The company has made significant progress in market expansion across various sectors such as government, finance, education, energy, communication, transportation, industry, and healthcare [2] Ecosystem Development - Zhaoxin's processors currently support various operating systems including Tongxin, Kirin, Zhongke Fangde, Euler, and Longxi, and have achieved compatibility and optimization with over 3,000 partners across databases, middleware, application software, security software, and cloud platforms [2] - The company has formed over 200,000 software and hardware adaptation and optimization projects, maintaining industry-leading ecosystem compatibility [2] Fundraising and Future Plans - The funds raised from the IPO will primarily be directed towards new generation server processors, new generation desktop processors, advanced process processor R&D projects, and R&D center projects [2] - The completion of these fundraising projects is expected to further solidify the company's market leadership in key desktop PC industries, enhance product competitiveness across the market, and support national information security strategies while improving domestic CPU self-sufficiency [2]

Group 1 - The Shanghai Electronic Index opened lower and reported at 5440.88 points, with a decline of 2.34% over the past month, 10.99% over the past three months, and 2.79% year-to-date [1] - The index includes 50 representative listed companies in the electronic sector on the Shanghai Stock Exchange, covering areas such as semiconductors, computer storage, and consumer electronics [1] - The top ten weighted companies in the index are: SMIC (9.12%), Haiguang Information (7.02%), Cambrian (6.66%), Weir Shares (5.93%), Zhongke Shuguang (5.53%), Lanke Technology (5.08%), Industrial Fulian (4.55%), Zhaoyi Innovation (4.52%), Zhongwei Company (4.16%), and Changdian Technology (2.54%) [1] Group 2 - The industry composition of the index shows that integrated circuits account for 59.71%, electronic terminals and components for 16.14%, semiconductor materials and equipment for 11.26%, electronic components for 4.54%, optoelectronics for 4.06%, discrete devices for 3.36%, and automotive parts and tires for 0.93% [2] - The index samples are adjusted every six months, with adjustments implemented on the next trading day following the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2]

Domestic News - Guangzhou Development Zone and Huangpu District focus on breakthroughs in high-end chip design, including CPU, GPU, and other advanced chips, with subsidies of up to 5 million yuan per company per year for R&D [5] - NIO plans to expand its European market presence in 2025-2026, launching five models in Portugal, Greece, Cyprus, Bulgaria, and Denmark through national agents [6] - Jiangqi Group signs a strategic cooperation agreement with Huawei to enhance smart driving solutions and promote the electric, intelligent, and connected development of the automotive industry [7][8] - BYD announces a strategic partnership with Telecharge and Star Charging to accelerate the nationwide deployment of megawatt fast charging networks [9] - Geely's EX5 model has entered six Adriatic markets, establishing 36 channel stores in collaboration with SEEAG [10] - Jinbiao Volkswagen partners with Didi Chuxing to enhance electric vehicle rental services, with 1,797 vehicles delivered across 30 cities [11][12] - Chery's Wuhu Jietu Automotive Sales Company increases its registered capital from 500 million to 2 billion yuan, a 300% increase [13] - The third China International Supply Chain Promotion Expo will be held in Beijing from July 16 to 20, with over 650 exhibitors from 75 countries expected [14] Foreign News - Mitsubishi Motors announces an average price increase of 2.1% for new vehicles in the U.S. market due to rising costs from tariffs [15] - Nissan launches the new third-generation LEAF, set to debut in the U.S. this fall [16] - Audi cancels its previous plan to stop developing internal combustion engine vehicles by 2033, shifting focus to platform architecture and software development [17] - Waymo expands its autonomous taxi service in the San Francisco Bay Area to more regions, including Brisbane and Palo Alto [18] Commercial Vehicles - Daimler Trucks and Volvo Group establish a joint venture named Coretura to drive transformation in the commercial vehicle industry through a software-defined vehicle platform [20] - SAIC Yuejin collaborates with CATL to launch the Danna T1 light truck, emphasizing low operational costs [21] - Jiangling Motors launches new vehicles in the Chilean market, including electric and fuel versions, to enhance its competitive position [22] - BYD's SHARK electric pickup officially enters the Bhutan market, accelerating its overseas strategy [24]

Group 1 - The "Investment Chengdu" Global Investment Conference highlighted significant projects, including the signing of the "Star Calculation Plan" global headquarters and major funding for the aviation industry [1] - Chengdu Investment Group's investment of 1 billion yuan in the aviation engine company aims to enhance local industry capabilities and support the development of high-end aviation equipment [1] - The group has implemented over 60 major industrial projects, attracting a total investment of approximately 400 billion yuan, contributing to the modernization of the local industrial system [1][6] Group 2 - The electronic information industry is a key focus for Chengdu, with efforts to attract major companies in the semiconductor sector to address challenges in chip production [2] - Chengdu Investment Group has successfully established a Micro-LED production line, marking a significant advancement in next-generation display technology [2] - The group is actively involved in national funds to support major projects, with over 10 billion yuan expected to be reinvested in Chengdu [2] Group 3 - The equipment manufacturing sector is crucial for the economy, with Chengdu Investment Group supporting local companies in the aerospace industry and promoting the development of high-end power equipment [3] - A new manufacturing center for turbine and engine core equipment is under construction, expected to produce 100 units annually and generate over 5 billion yuan in annual output [3] Group 4 - Chengdu Investment Group is driving the green transformation of industries, focusing on lithium battery production and clean energy initiatives [5] - The group has attracted leading companies in the battery sector and is investing in hydrogen energy projects to support the development of a world-class lithium battery industry [5] Group 5 - Chengdu Investment Group has invested in various innovative projects in the low-altitude and commercial space sectors, enhancing the city's competitiveness in these emerging industries [5] - The successful launch of the world's first space computing constellation by Guoxing Aerospace signifies Chengdu's advancements in commercial space [4][5] Group 6 - The group is focused on nurturing long-term capital and has plans to establish a third phase of its industrial fund to support major industrial projects [6] - Chengdu Investment Group aims to optimize the local industrial system, promoting collaboration across various sectors and enhancing the overall economic landscape [6]

2025.06. 18 本文字数：3727，阅读时长大约6分钟 "后续如果未盈利科技企业在科创板IPO数量有显著增加，会进一步改善一级市场投资机构的预 期。"上海金浦智能科技投资管理有限公司总裁田华峰称。 作为未盈利企业，百利天恒称，优化科创板上市公司股债融资制度，可以提高审核效率，加速募投项 目推进，对未盈利企业发展起到较大助推作用。 当然，科创板支持优质未盈利企业上市和发展，仍有待完善之处。清华大学国家金融研究院院长、五 道口金融学院副院长田轩认为，需进一步完善和优化上市发行制度，设置更加灵活的上市标准；鼓励 未盈利企业之间的并购整合，促进技术融合与产业链协同。 未盈利企业上市趋势如何？ 作者 | 第一财经 黄思瑜 一年前，"科创板八条"明确支持优质未盈利科技型企业上市和融资。如今一年后，成效几何？ 6月17日，科创板又新增受理了一单未盈利企业的IPO申请，这是去年6月19日"科创板八条"发布以 来，科创板新增受理的第4单未盈利企业IPO申请，4家企业合计拟融资超160亿元。另外，近一年6 家上市未盈利企业依据"轻资产、高研发投入"认定标准，披露了再融资方案。 在支持优质未盈利科技型企业上市的政策暖风中， ...

金十数据6月18日讯，在今天举行的2025陆家嘴论坛上，中国证监会主席吴清介绍，近年来，中国证监 会持续深化发行上市、并购重组、股权激励等领域的适配性改革，优化制度和产品供给，引导各类要素 资源加快向创新领域集聚，为支持科技创新和产业转型升级提供了重要支撑。上市公司成为科技创新主 力军。2024年，A股上市公司研发投入达到1.88万亿元，占全社会研发投入一半以上，拥有专利数量占 全国总量的1/3。数据显示，和10年前相比，市值超千亿的A股上市公司中，科技企业占比从12%提升至 27%，在集成电路、生物医药、新能源等领域形成了集聚效应，改善了投资者回报。 （央视新闻） 吴清：上市公司成为科技创新主力军 ...

Core Insights - The National Integrated Circuit Design Automation Technology Innovation Center has launched the iCell tool, marking a significant advancement in the Electronic Design Automation (EDA) field in China, providing essential support for high-end chip design [1][2] Group 1: iCell Tool Overview - iCell is the first intelligent standard cell automatic library construction tool in China, aimed at enhancing the efficiency of digital chip design [1] - The tool automates the construction of standard cell libraries, which traditionally required hundreds of engineers and several months to complete [1] Group 2: Technological Innovations - iCell employs a Transformer-based pre-training method for transistor layout, leveraging deep learning to optimize design processes [2] - The tool utilizes reinforcement learning and multi-task learning statistical methods to significantly reduce simulation costs and shorten the library construction cycle [2] Group 3: Application and Impact - iCell facilitates process exploration and optimization through design-process interaction, serving as a point tool for advanced process foundries [2] - The tool is currently being applied by leading domestic chip design companies and memory foundries in China [2]

Core Viewpoint - Shanghai Zhaoxin Integrated Circuit Co., Ltd. has submitted its application for listing on the Sci-Tech Innovation Board, aiming to raise 4.169 billion yuan [1] Financial Performance - The company reported revenues of 340 million yuan, 555 million yuan, and 889 million yuan for the years 2022, 2023, and 2024, respectively [1] - Net profits for the same years were -727 million yuan, -677 million yuan, and -951 million yuan, indicating ongoing losses [1] - The basic and diluted earnings per share are projected to be -0.09 yuan, -0.20 yuan, and -0.55 yuan for 2022, 2023, and 2024, respectively [1] - The weighted average return on equity is expected to be -24.01%, -15.91%, and -23.78% for the years 2022, 2023, and 2024 [1] - The net cash flow from operating activities is forecasted to be -658 million yuan, -487 million yuan, and -1.093 billion yuan for 2022, 2023, and 2024 [1]