企业名称怡核机电（上海）有限公司法定代表人韩喜春注册资本500万人民币国标行业制造业>计算 机、通信和其他电子设备制造业>电子器件制造地址上海市宝山区上大路668号1幢5层A区企业类型有限 责任公司（自然人投资或控股的法人独资）营业期限2025-5-30至无固定期限登记机关宝山区市场监督 管理局 来源：金融界 天眼查App显示，近日，怡核机电（上海）有限公司成立，法定代表人为韩喜春，注册资本500万人民 币，由怡核（上海）科技有限公司全资持股。 序号股东名称持股比例1怡核（上海）科技有限公司100% 经营范围含许可项目：特种设备安装改造修理；建设工程设计；施工专业作业；建设工程监理；建设工 程勘察；建设工程施工；保险兼业代理业务。（依法须经批准的项目，经相关部门批准后方可开展经营 活动，具体经营项目以相关部门批准文件或许可证件为准）机械设备销售；发电机及发电机组销售；技 术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；机械设备租赁；机械设备研发；工业 控制计算机及系统销售；汽车零配件零售；专业保洁、清洗、消毒服务；泵及真空设备销售；新能源汽 车生产测试设备销售；汽车零配件批发；配电开关控制设备研发； ...

Group 1 - A new company, Zhijing Neng (Dongguan) New Energy Technology Co., Ltd., has been established with a registered capital of 60 million RMB [1] - The legal representative of the company is Hu Na, and it is wholly owned by Zhongjing Neng Electric General (Dongguan) New Energy Technology Co., Ltd. [1] - The company operates in the manufacturing industry, specifically in the electronic device manufacturing sector [2] Group 2 - The business scope of Zhijing Neng includes emerging energy technology research and development, energy storage technology services, solar power technology services, and investment activities [2] - The company is involved in the manufacturing and sales of integrated circuit chips and products, as well as photovoltaic equipment and components [2] - Additional services include electric vehicle charging infrastructure operation, energy management, software development, and carbon reduction technologies [2]

Company Overview - Chenkai (Weihai) Intelligent Technology Co., Ltd. has been established with a registered capital of 20 million RMB, and the legal representative is Wang Wenli [1] - The company is wholly owned by Taicang Ronggui Hometown Technology Co., Ltd. [1] Shareholder Information - Taicang Ronggui Hometown Technology Co., Ltd. holds 100% of the shares in Chenkai (Weihai) Intelligent Technology Co., Ltd. [2] Business Scope - The business scope includes research and development of intelligent robots, integration of intelligent control systems, and application system integration services in the artificial intelligence industry [2] - Other activities include sales and manufacturing of smart home consumer devices, artificial intelligence hardware, and basic manufacturing equipment [2] - The company is also involved in software development, technology services, and various consulting services related to artificial intelligence and information technology [2]

Core Viewpoint - The company, Guokewai, is planning to acquire a semiconductor foundry and custom chip manufacturing business, marking a significant step in the integration of the domestic chip industry [1][2][3] Company Overview - Guokewai was established in 2008 and is headquartered in Changsha, listed on the Shenzhen Stock Exchange's Growth Enterprise Market in 2017, and is recognized as a national-level integrated circuit design enterprise [1] - The company has focused on chip design and development using a Fabless model, outsourcing production processes to large professional integrated circuit manufacturers [1] - In 2024, Guokewai achieved a revenue of 1.978 billion yuan and a net profit of 97 million yuan, with a revenue of 305 million yuan and a net profit of 51.51 million yuan in Q1 2025, reflecting a 25% year-on-year growth [1] Industry Context - The semiconductor foundry industry is a critical manufacturing hub within the semiconductor supply chain, with China’s foundry sector experiencing rapid growth supported by national policies, although it still lags behind international standards, especially in advanced processes below 28nm [2] - The acquisition target operates in the "computer, communication, and other electronic device manufacturing" sector, specifically in "electronic device manufacturing," focusing on specialized semiconductor foundry and custom chip manufacturing [2] Strategic Move - The acquisition is seen as a crucial measure for Guokewai to overcome challenges posed by supply chain fluctuations and capacity limitations inherent in the Fabless model [2] - If successful, the acquisition will enable Guokewai to transition from a purely Fabless model to a partially Integrated Device Manufacturer (IDM) model, enhancing its competitive advantage across the entire chip industry chain [3]

Core Viewpoint - Guokewi (300672.SZ) is planning a major asset restructuring, which has led to a significant increase in its stock price prior to the announcement [1][2][4]. Group 1: Company Announcement and Stock Performance - On May 21, Guokewi announced it is planning to acquire assets through issuing shares and cash payments, leading to a stock suspension starting May 22 [1][2]. - The company did not disclose the specific acquisition target but indicated it is involved in specialized semiconductor wafer foundry and customized chip foundry services [1][2]. - Guokewi's stock price surged by 12.54% to 79.9 CNY per share on May 20, followed by a 1.45% increase to 81.06 CNY on May 21, totaling an approximate 14% rise before the suspension [1][4]. Group 2: Financial Performance - In 2024, Guokewi reported a revenue of 1.978 billion CNY, a decrease of 53.26% year-on-year, while net profit was 97.15 million CNY, a slight increase of 1.13% [1][6]. - The company's revenue from its smart vision series chips was 946 million CNY, down 23.43%, and from ultra-high-definition smart display series chips was 774 million CNY, down 70.15% [7]. - Despite the revenue decline, Guokewi's R&D investment reached 675 million CNY in 2024, a 10.26% increase, accounting for 34.14% of total revenue [7][8]. Group 3: R&D and Market Position - Guokewi employs a Fabless model, outsourcing production processes to large integrated circuit manufacturers [2][3]. - The company has a strong focus on R&D, with 646 R&D personnel making up 76.09% of its total workforce, and has accumulated 365 domestic patents [8]. - The competitive landscape in the end-user application markets is intense, with rapid product and technology updates impacting the company's performance [6][7].

Investment Rating - Industry rating is maintained at "Outperform the Market" [5] Core Viewpoints - The report highlights the recovery opportunities in the consumer electronics sector following the recent tariff agreement [2] - The 3D printing industry is experiencing significant advancements, particularly in collaboration between equipment suppliers and 3C manufacturers, which is becoming a key focus in the consumer goods sector [2][11] - The iPhone 16 series has shown a price stratification across different sales channels, with e-commerce platforms offering further discounts to meet trade-in subsidy thresholds [2][20] - The panel market is showing distinct characteristics across applications, with the TV panel market facing supply-demand challenges while the monitor panel market continues to see price increases due to tariff exemptions [3][24] Summary by Sections 3D Printing - Recent developments include a joint venture between Huagong Technology and Lika Precision to enhance SLM manufacturing technology [11] - The domestic supply chain is witnessing critical breakthroughs, with companies like Plittech and Raycus Laser making significant progress in metal materials and laser technology [2][11] Apple Supply Chain - The pricing strategy for the iPhone 16 series has created a three-tier pricing structure across different sales channels [20] - Innovation is emphasized with the upcoming foldable iPhone featuring a book-like design, showcasing Apple's commitment to new technology [21] Panel Market - The TV panel market is experiencing a decline in demand, leading manufacturers to adjust production capacity, with an expected decrease in average utilization rates by 6-7 percentage points [3][24] - The monitor panel market continues to rise, driven by tariff exemptions, although the growth rate may slow due to the weakening demand in the TV panel sector [24] Tariff Adjustments - The recent US-China trade talks have led to a temporary suspension of certain tariffs, positively impacting the expectations of Chinese Apple supply chain manufacturers [4][26] - The adjustment in tariff policies is expected to enhance the shipment volumes of upstream manufacturers like GoerTek and Luxshare Precision [4][28]

企业名称深圳市久鑫机器人有限公司法定代表人刘倩注册资本1000万人民币国标行业制造业>计算机、 通信和其他电子设备制造业>电子器件制造地址深圳市福田区福田街道福安社区益田路4068号卓越时代 广场大厦5101-5109企业类型有限责任公司营业期限2025-5-15至无固定期限登记机关深圳市市场监督管 理局 来源：金融界 天眼查App显示，近日，深圳市久鑫机器人有限公司成立，法定代表人为刘倩，注册资本1000万人民 币，深圳市中祥天成管理咨询有限公司、深圳市鉴翔智能科技有限公司持股。 经营范围含智能机器人的研发；智能机器人销售；通信设备制造；通信设备销售；货物进出口；进出口 代理；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；信息安全设备制造；信息系 统集成服务；人工智能硬件销售；云计算设备销售；网络技术服务；人工智能公共数据平台；人工智能 基础资源与技术平台；大数据服务；软件开发；集成电路设计；智能控制系统集成；人工智能通用应用 系统；人工智能行业应用系统集成服务；计算机系统服务；信息系统运行维护服务；数据处理和存储支 持服务；信息技术咨询服务；互联网设备销售；计算机软硬件及辅助设备零售；网络与 ...

企业名称净界巡航机器人科技（厦门）有限公司法定代表人崔海顺注册资本1000万人民币国标行业制造 业>计算机、通信和其他电子设备制造业>电子器件制造地址厦门火炬高新区软件园三期诚毅北大街56 号402室-269企业类型法人商事主体【有限责任公司(自然人投资或控股的法人独资)】营业期限2025-5- 12至无固定期限登记机关 来源：金融界 序号股东名称持股比例1净界巡航（苏州）科技有限公司100% 经营范围含技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；智能机器人的研发；智 能机器人销售；工业机器人制造；工业机器人销售；工业机器人安装、维修；服务消费机器人制造；服 务消费机器人销售；专业设计服务；机械设备租赁；运输设备租赁服务；通信设备销售；通用设备修 理；电子专用设备销售；专用设备修理；电气设备修理；家用电器研发；家用电器制造；家用电器销 售；家用电器安装服务；家用电器零配件销售；软件开发；计算机软硬件及辅助设备批发；计算机系统 服务；信息系统集成服务；图文设计制作；包装材料及制品销售；建筑材料销售；建筑装饰材料销售； 五金产品批发；电线、电缆经营；机械设备销售；电子产品销售；广告设计、代理；广告 ...

天眼查App显示，近日，江苏云哨智能科技有限公司成立，法定代表人为向阳，注册资本1000万人民 币，由四川忆欧企业管理有限公司全资持股。 序号股东名称持股比例1四川忆欧企业管理有限公司100% 企业名称江苏云哨智能科技有限公司法定代表人向阳注册资本1000万人民币国标行业制造业>计算机、 通信和其他电子设备制造业>电子器件制造地址江苏省徐州市贾汪区徐州工业园区武珞科技园C4栋414 室企业类型有限责任公司（非自然人投资或控股的法人独资）营业期限2025-5-12至无固定期限登记机 关徐州市贾汪区行政审批局 来源：金融界 经营范围含许可项目：建筑智能化系统设计；建设工程设计（依法须经批准的项目，经相关部门批准后 方可开展经营活动，具体经营项目以审批结果为准）技术服务、技术开发、技术咨询、技术交流、技术 转让、技术推广；可穿戴智能设备制造；智能家庭消费设备制造；智能无人飞行器制造；智能家庭消费 设备销售；人工智能通用应用系统；智能机器人销售；可穿戴智能设备销售；智能基础制造装备制造； 智能无人飞行器销售；物联网设备制造；物联网设备销售；人工智能应用软件开发；人工智能基础软件 开发；工程管理服务；工业工程设计服务； ...

天眼查App显示，近日，苏州红石榴苏迅汽车电子有限公司成立，法定代表人为李明，注册资本500万 人民币，昆山苏迅电子有限公司、苏州纬亚控股集团有限公司、江苏红石榴科技园发展有限公司持股。 企业名称苏州红石榴苏迅汽车电子有限公司法定代表人李明注册资本500万人民币国标行业制造业>计 算机、通信和其他电子设备制造业>电子器件制造地址江苏省苏州市昆山市玉山镇城北富士康路789号2 号房企业类型有限责任公司营业期限2025-5-12至无固定期限登记机关昆山市数据局 来源：金融界 序号股东名称持股比例1昆山苏迅电子有限公司51%2苏州纬亚控股集团有限公司30%3江苏红石榴科技 园发展有限公司19% 经营范围含汽车零部件及配件制造；电子元器件与机电组件设备制造；模具制造；模具销售；五金产品 制造；五金产品研发；金属链条及其他金属制品制造；金属制品销售；家用电器制造；家用电器研发； 气体、液体分离及纯净设备制造；气体、液体分离及纯净设备销售；家用电器销售；微特电机及组件制 造；微特电机及组件销售；专用设备制造（不含许可类专业设备制造）；电工机械专用设备制造；技术 服务、技术开发、技术咨询、技术交流、技术转让、技术推广；电子 ...