Core Viewpoint - The company, Yongxi Electronics (Ningbo) Co., Ltd., maintains a stable credit rating of A with a stable outlook, supported by its technological strength and long-term partnerships with key chip enterprises, despite facing challenges in capacity expansion and profitability [3][4][5]. Financial Performance - Total assets increased from 83.21 billion yuan in 2022 to 123.31 billion yuan in 2023, with total liabilities rising from 53.76 billion yuan to 83.33 billion yuan during the same period [6][22]. - The company reported significant revenue growth, with total operating income rising from 21.77 billion yuan in 2022 to 36.09 billion yuan in 2023, while net profit improved from a loss of 1.35 billion yuan to a profit of 0.09 billion yuan [8][21]. - The gross profit margin decreased from 21.91% in 2022 to 13.90% in 2023, primarily due to increased costs associated with the second-phase factory construction [20][21]. Operational Capacity - The company is in a capacity expansion phase, with production capacity for non-wafer-level packaging increasing from 349.9 million units in 2022 to 575.7 million units in 2024, and production volume rising from 269 million units to 518 million units during the same period [17][16]. - The utilization rate for non-wafer-level packaging reached 90% in 2024, indicating effective capacity management [16]. R&D and Technological Development - The company has a strong focus on advanced packaging technologies, with R&D expenditures increasing from 1.22 billion yuan in 2022 to 2.17 billion yuan in 2024, representing a growing commitment to innovation [18][17]. - As of 2024, the company holds 400 patents, including 158 invention patents, showcasing its competitive technological capabilities [17][18]. Market Position and Customer Relationships - The company has established long-term relationships with major domestic chip manufacturers, with the top five customers accounting for approximately 38.38% of total sales in 2023 [13][14]. - The company benefits from strong customer loyalty and has successfully expanded its client base, particularly in the automotive and 5G sectors [13][14]. Industry Context - The global packaging and testing market is highly concentrated, with the top five companies holding over 50% market share, indicating significant competitive pressures [10][11]. - The advanced packaging market is expected to grow significantly, driven by increasing demand from high-performance computing and AI applications, positioning the company favorably for future growth [11][12].

Financial Performance - In the first half of 2025, the company's revenue was 325,906,482.77 yuan, representing a year-on-year increase of 4.09% [2] - The net loss attributable to shareholders was 58,668,634.55 yuan, compared to a loss of 40,595,709.81 yuan in the same period last year [2] - The net loss after deducting non-recurring gains and losses was 66,070,349.93 yuan, up from a loss of 46,833,806.8 yuan in the previous year [2] - Total assets at the end of the first half were 1,881,141,480.6 yuan, a decrease of 5.93% year-on-year [2] - Net assets attributable to shareholders were 597,180,424.56 yuan, down 8.64% year-on-year [2] - Basic earnings per share were 0.55 yuan, primarily due to an increase in net loss compared to the previous year [2] Reasons for Performance Changes - The increase in losses was attributed to the solidification of phase two infrastructure, leading to higher depreciation and the capitalization of loan interest, along with increased financing lease business and unrecognized financing costs [2] - The reduction in the value-added tax offset for integrated circuit companies compared to the previous year also contributed to the performance decline [2] R&D and Product Development - The company continued to invest in R&D, with total R&D expenditure of 26,021,200 yuan in the first half of 2025, an increase of 2.50% year-on-year [3] - In integrated circuit packaging and testing, the company upgraded high-density matrix packaging technology with an 85% conversion rate and completed product assessments and small-scale production for various series [3] - In power device packaging and testing, the company expanded production capacity for several products and completed engineering trials for new packaging technologies [3]

北京大成（南通）律师事务所 关于通富微电子股份有限公司 法律意见书 大成证字[2025]第 67 号 北 京 大 成 (南 通 )律 师 事 务 所 江苏省南通市工农南路155号印象城写字楼20楼（226004） Tel: 0513-85119000 Fax: 0513-85119001 法律意见书——通富微电子股份有限公司 2025 年第一次临时股东会 北京大成（南通）律师事务所 关于通富微电子股份有限公司 大成证字[2025]第 67 号 致：通富微电子股份有限公司 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证，保证本法律意见所认定的事实真实、准确、完 整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大遗 漏，并承担相应法律责任。 本所律师根据《股东会规则》第六条的要求，按照律师行业公认的业务标准、 道德规范和勤勉尽责的精神，对本次股东会所涉及的有关事项和相关文件进行了 必要的核查和验证，出席了 ...

Group 1 - The core point of the news is the performance and characteristics of the convertible bond issued by Yongxi Electronics, which has seen a price increase and notable trading volume [1] - Yongxi Convertible Bond has a credit rating of "A+" and a maturity period of 6 years, with a coupon rate that increases progressively from 0.20% in the first year to 2.50% in the sixth year [1] - The bond is convertible into common stock at a price of 28.39 yuan, with the conversion starting on January 2, 2026, and a current conversion premium of 43.32% [1] Group 2 - Yongxi Electronics was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in November 2022, focusing on integrated circuit packaging and testing solutions [2] - The company has a total investment of approximately 45 billion yuan for its first phase, which covers 126 acres, and plans for a second phase with an investment of 111 billion yuan over 500 acres [2] - For the first quarter of 2025, Yongxi Electronics reported a revenue of 945.5 million yuan, a year-on-year increase of 30.12%, and a net profit of 24.6 million yuan, up 169.4% year-on-year [2]

Core Viewpoint - Tongfu Microelectronics, a company specializing in integrated circuit packaging and testing, has a diverse client base that includes major international corporations and leading firms in various sectors, with most of the top 20 semiconductor companies globally and a majority of well-known domestic integrated circuit design companies as clients [1] Group 1 - The company primarily focuses on integrated circuit packaging and testing services [1] - The client resources of the company cover international giants and leading firms in various segments [1] - Most of the world's top 20 semiconductor companies are among the company's clients [1]

Core Viewpoint - The news highlights the performance and financial metrics of Yongxi Electronics and its convertible bonds, indicating a positive trend in revenue and profit growth, alongside details of the company's operations and future plans [1][2]. Group 1: Convertible Bonds - Yongxi Convertible Bonds rose by 2.37% to 154.175 yuan per bond, with a trading volume of 50.35 million yuan and a conversion premium of 34.32% [1]. - The credit rating of Yongxi Convertible Bonds is "A+", with a maturity of 6 years and a tiered coupon rate starting from 0.20% in the first year to 2.50% in the sixth year [1]. - The conversion price for the bonds is set at 28.39 yuan, with the conversion period starting on January 2, 2026 [1]. Group 2: Company Overview - Yongxi Electronics was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in November 2022, focusing on integrated circuit packaging and testing solutions [2]. - The company was established in November 2017 and has invested approximately 45 billion yuan in its first-phase facility, which covers 126 acres and produces various high-end packaging products [2]. - The second phase of the project will cover 500 acres with an investment of 111 billion yuan, focusing on advanced wafer-level packaging technologies [2]. Group 3: Financial Performance - For the first quarter of 2025, Yongxi Electronics reported a revenue of 945.5 million yuan, a year-on-year increase of 30.12% [2]. - The net profit attributable to shareholders was 24.6 million yuan, reflecting a significant year-on-year increase of 169.4% [2]. - The company reported a non-recurring net profit of -28.1 million yuan, which is an increase of 38.95% year-on-year [2]. Group 4: Shareholder Structure - As of March 2025, Yongxi Electronics has a concentrated shareholder structure, with the top ten shareholders holding a combined 52.91% of shares [2]. - The top ten circulating shareholders account for 35.14% of the shares, with a total of 16,660 shareholders [2]. - The average circulating shares per shareholder are 16,720, with an average holding amount of 503,300 yuan [2].

8月6日，甬矽电子大宗交易成交43.04万股，成交额1320.36万元，占当日总成交额的3.17%，成交均价30.68元，较市场收盘价32.29元折价4.99%，其中最高 成交价30.68元，最低成交价30.67元。 | 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-06 | 角矽电子 | 688362 | 30.68 | 920.4 | 30 | 西部证券股份有限 | 中信证券股份有限 | | | | | | | | | 公司西安东大街证 | 公司杭州延安路证 | | | | | | | | | 劳营业部 | 券营业部 | | | 2025-08-06 | 角矽电子 | 688362 | 30.67 | 399.96 | 13.04 | 华西证券股份有限 | 中信证券股份有限 | | | | | | | | | 公司成都西玉龙值 | 公司杭州延安路证 | | | | | | | | | 证 ...

Group 1 - The core transaction involved Tongfu Microelectronics, with a block trade of 1.4324 million shares [1] - The total transaction value was 35.108 million yuan, accounting for 2.48% of the total trading volume on that day [1] - The transaction price was 24.51 yuan per share, representing an 11.61% discount compared to the market closing price of 27.73 yuan [1]

| 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 13.50 | 399.97 | 29.63 | -5.00 | 华西证券股份有限公司成 | 中信证券股份有限公司杭 | | | | | | 都西玉龙街证券营业部 | 州延安路证券营业部 | （文章来源：证券时报网） 证券时报·数据宝统计显示，甬矽电子今日收盘价为31.19元，上涨4.59%，日换手率为4.92%，成交额为 4.24亿元，全天主力资金净流入1029.88万元，近5日该股累计上涨5.16%，近5日资金合计净流出3498.08 万元。 两融数据显示，该股最新融资余额为3.60亿元，近5日减少819.23万元，降幅为2.22%。（数据宝） 8月4日甬矽电子大宗交易一览 甬矽电子8月4日大宗交易平台出现一笔成交，成交量13.50万股，成交金额399.97万元，大宗交易成交价 为29.63元，相对今日收盘价折价5.00%。该笔交易的 ...

Group 1 - Luzhou Laojiao announced a cash dividend of 45.92 RMB per 10 shares for the 2024 fiscal year, totaling approximately 6.759 billion RMB [1] - The dividend will be distributed to all shareholders registered by the close of trading on August 7, 2025, with the ex-dividend date set for August 8, 2025 [1] Group 2 - Huatian Technology plans to establish a wholly-owned subsidiary, Nanjing Huatian Advanced Packaging Co., Ltd., with a total registered capital of 2 billion RMB to engage in 2.5D/3D integrated circuit packaging and testing [2] - The investment will be shared among its subsidiaries, with Huatian Jiangsu contributing 1 billion RMB (50%), Huatian Kunshan 665 million RMB (33.25%), and Advanced No. 1 335 million RMB (16.75%) [2] Group 3 - China Petroleum Engineering's subsidiary received a project award letter for a seawater pipeline project in Iraq, valued at approximately 18.032 billion RMB (2.524 billion USD) [3] - Successful signing and implementation of the project could enhance the company's market position in Iraq and the Middle East, positively impacting revenue and profit over the next 4-5 years [3] Group 4 - Jinghe Integrated is planning to issue H-shares and list on the Hong Kong Stock Exchange, with discussions ongoing with relevant intermediaries [4] - The H-share issuance will not change the company's controlling shareholder or actual controller [4] Group 5 - Huate Dain's subsidiary signed an exclusive distribution agreement for melatonin granules (Manlejing®) with Japan's Nobori Pharmaceutical, set to be approved for sale in mainland China by July 2025 [5] - This product will be the first melatonin formulation approved for treating sleep difficulties in children aged 6-15 with neurodevelopmental disorders in China [5] Group 6 - Baotai announced that its innovative drug BAT5906, a humanized monoclonal antibody injection, received clinical trial approval for new indications related to retinal conditions [6] - The drug has completed various phases of clinical trials for other indications and is preparing for further studies [6] Group 7 - Chipone Technology expects a revenue of approximately 584 million RMB for the second quarter, reflecting a quarter-on-quarter growth of 49.9% [7] - Qianli Technology reported July automobile sales of 10,200 units, a year-on-year increase of 142.34% [7] Group 8 - Hanma Technology's truck sales in July reached 956 units, marking a year-on-year growth of 42.69% [8] - Tianyi New Materials anticipates a net loss of 190 million to 240 million RMB for the first half of the year [8] Group 9 - Yabian Chemical signed a supply strategic agreement with Heng Rui Pharmaceutical [9] - Weisheng Information won procurement projects totaling 110 million RMB from South Grid and State Grid [9] - Dongjie Intelligent received a procurement order from PTT LOGISTICS SDN BHD worth approximately 62.5 million RMB [9]