Core Points - The company Shengke Communication (688702.SH) announced that as of November 17, 2025, the National Integrated Circuit Industry Investment Fund has cumulatively reduced its shareholding by 10.1891 million shares, accounting for 2.49% of the company's total share capital [1] Summary by Category - **Shareholding Reduction** - The National Integrated Circuit Industry Investment Fund has completed its share reduction plan, which involved a total reduction of 10.1891 million shares [1] - This reduction represents 2.49% of the total share capital of Shengke Communication [1] - **Plan Completion** - The reduction plan's period has ended, marking the conclusion of this specific shareholding adjustment [1]

Group 1 - The core conclusion of the report explores investment opportunities in the "14th Five-Year Plan" from two dimensions: strategic directions indicated by planning suggestions and historical focus industries from previous five-year plans [1] - The three main policy lines of the "14th Five-Year Plan" are summarized as "Development," "Livelihood," and "Security," with "Development" focusing on advanced manufacturing and new productivity, "Livelihood" emphasizing domestic demand expansion, and "Security" reinforcing national defense and key technology areas [1][2] - The report indicates that while certain industry themes may create long-term excess returns if performance continues to validate, the likelihood of sustained excess returns throughout the entire five-year planning cycle is low [3] Group 2 - The "14th Five-Year Plan" emphasizes high-quality development, breaking down economic and social development goals into three main lines: "Development," "Livelihood," and "Security," with 12 key tasks identified [2][8] - The "Development" line focuses on enhancing traditional industries, scaling new pillar industries, and ensuring supportive industries for high-quality growth, with a strong emphasis on technological self-reliance [9][10] - The "Livelihood" line aims to address issues related to population structure changes and economic development, focusing on expanding domestic demand and improving residents' income levels to boost consumption in health, education, and elderly care sectors [11][12] - The "Security" line highlights the importance of national defense and ecological safety, with a focus on military modernization, key resource security, and the development of critical technologies [14][17] Group 3 - The investment guidance indicates that key themes and newly emphasized industries may not achieve significant excess returns over the entire five-year cycle, citing examples from previous plans where certain sectors underperformed [15][16] - The report notes that while industries like new energy vehicles have shown potential for long-term excess returns, the possibility of sustained excess returns throughout the five-year planning cycle remains limited due to over-optimistic pricing and cyclical nature of industries [15]

Core Viewpoint - Fudan Microelectronics, a leading domestic FPGA company with a market value exceeding 40 billion yuan, announced that Shanghai Guosheng Investment Co., Ltd. will acquire 106.73 million A-shares from Fuxin Vango, making Guosheng the largest shareholder of Fudan Microelectronics [1] Group 1: Share Transfer Details - Guosheng Investment will acquire 12.99% of Fudan Microelectronics' shares at a price of 48.2 yuan per share, totaling 5.144 billion yuan [1] - Following the transfer, Fuxin Vango will no longer hold shares in Fudan Microelectronics, and Guosheng Investment will become the largest shareholder [1] - The transfer does not constitute a takeover and will not significantly impact the management of Fudan Microelectronics [1] Group 2: Background of Guosheng Investment - Guosheng Investment is primarily engaged in investment and asset management, with its controlling shareholder being Shanghai Guosheng Group, which is under the supervision of the Shanghai State-owned Assets Supervision and Administration Commission [1][2] - The transfer is part of a strategy to enhance collaboration in the integrated circuit sector and achieve resource integration [2] Group 3: Fudan Microelectronics Overview - Fudan Microelectronics is the first listed integrated circuit design company in China, established in 1998, and has developed various product lines including safety and identification chips, non-volatile memory, and FPGA chips [3] - The company reported revenue of 3.024 billion yuan for the first three quarters of 2025, a year-on-year increase of 12.7%, but a net profit decline of 22.69% to 330 million yuan [3] - The decline in net profit is attributed to increased inventory impairment, reduced government subsidies, and other income [3] Group 4: Management Changes - In June 2023, Fudan Microelectronics underwent a management transition, appointing Zhang Wei as the new chairman and general manager, while core founders did not receive nominations for board or executive positions [4]

每经AI快讯，盛科通信（SH 688702，收盘价：120.77元）11月17日晚间发布公告称，公司近日收到股 东产业基金出具的《关于减持计划时间届满暨减持股份结果的告知函》，截至2025年11月17日收盘，产 业基金通过集中竞价方式累计减持了公司股份约1019万股，占公司总股本的2.49%。本次减持计划实施 完毕。 每经头条（nbdtoutiao）——展望"十五五" | 专访尹艳林：让有钱且愿消费的人顺利消费；个税起征点可 提高，最高边际税率可下调，让有关群体少缴税、多收入 （记者 贾运可） 截至发稿，盛科通信市值为495亿元。 2024年1至12月份，盛科通信的营业收入构成为：集成电路占比100.0%。 ...

Core Points - The major shareholder, National Integrated Circuit Industry Investment Fund Co., Ltd., completed its share reduction plan, selling a total of 10.1891 million shares, which accounts for 2.49% of the company's total equity [2] - The shares were sold at a price range of 102.26 to 144.74 yuan per share, resulting in a total cash-out of 1.265 billion yuan [2] - After the reduction, the major shareholder still holds 5.9802 million shares, representing 14.60% of the total shares outstanding [2]

Core Points - Shengke Communication (688702.SH) announced that the National Integrated Circuit Industry Investment Fund has completed its share reduction plan, reducing its holdings by 10.1891 million shares, which accounts for 2.49% of the company's total share capital [1] Summary by Category - **Company Announcement** - Shengke Communication received a notification from the National Integrated Circuit Industry Investment Fund regarding the completion of its share reduction plan [1] - The reduction was executed through centralized bidding and concluded on November 17, 2025 [1] - **Share Reduction Details** - The total number of shares reduced was 10.1891 million [1] - This reduction represents 2.49% of the total share capital of Shengke Communication [1]

（原标题：银河通用机器人持股企业等成立新公司，含集成电路业务） 企查查APP显示，近日，北京安纳智芯科技有限公司成立，经营范围包含：集成电路芯片设计及服务；集成电路芯片及产品销售；集成电路设 计；集成电路销售等。企查查股权穿透显示，该公司由北京燕缘智合管理咨询合伙企业（有限合伙）等共同持股，后者大股东为北京银河通用机 器人有限公司，持股40.16%。 相关ETF 食品饮料ETF (产品代码: 515170) ★ 跟踪：中证细分食品饮料产业主题指数 近五日涨跌:2.99%。 市盈率： 21.11倍 资金流向: 最新份额为105.1亿份, 增 加了3.4亿份,主力资金净 流出2435.8万元。 估值分位:23.44% 游戏ETF (产品代码：159869) ★ 跟踪：中证动漫游戏指数 近五日涨跌: - 2.76% 市盈率： 35.98倍 资金流向: 最新份额为81.4亿份,减少 了500.0万份,主力资金净 流出6239.5万元。 估值分位: 52.53% 科创50ETF (产品代码: 588000) ★ 跟踪：上证科创板50成份指数 近五日涨跌: -3.76% 市盈率：152.75倍 资金流向: 最新份额为50 ...

人民财讯11月17日电，企查查APP显示，近日，重庆创元智航科技有限公司成立，注册资本1亿元，经 营范围包含：集成电路设计；集成电路芯片设计及服务；集成电路芯片及产品销售；人工智能应用软件 开发；人工智能基础软件开发等。企查查股权穿透显示，该公司由蔚来汽车科技(安徽)有限公司全资子 公司安徽神玑技术有限公司、豪威集团（603501）等共同持股。 ...

Core Viewpoint - Shanghai Guosheng Group plans to acquire a 12.99% stake in Fudan Microelectronics through a share transfer from Fudan Microelectronics' largest shareholder, Fuxin Vango, for a total consideration of 5.144 billion yuan, which is approximately 15% lower than the previous closing price [1][2]. Group 1 - The transaction involves the transfer of 106.73 million A-shares at a price of 48.20 yuan per share, resulting in Guosheng Investment becoming the largest shareholder of Fudan Microelectronics [1][3]. - Following the transaction, Fuxin Vango will no longer hold any shares in Fudan Microelectronics, and the company will maintain its status of having no controlling shareholder or actual controller [1][2]. - Fudan Microelectronics stated that the transaction will not significantly impact its management or operations and does not involve a takeover bid [1][2]. Group 2 - Fudan University will continue to support Fudan Microelectronics in strategic cooperation and collaborative research and development efforts after the share transfer [2]. - Guosheng Investment's parent company, Guosheng Group, is controlled by the Shanghai State-owned Assets Supervision and Administration Commission, and it holds over 5% stakes in nine other listed companies [2][4]. - The report details Guosheng Group's significant holdings in various companies, including 19.87% in Hu Silicon Industry and 28.11% in Shanghai Jianke [4].

Core Insights - Chongqing Chuangyuan Zhihang Technology Co., Ltd. has been established with a registered capital of 100 million RMB, focusing on integrated circuit design and artificial intelligence application software development [1] Company Overview - The legal representative of the newly established company is Wang Zhou [1] - The company's business scope includes integrated circuit design, integrated circuit chip design and services, sales of integrated circuit chips and products, and development of artificial intelligence application software [1] Shareholding Structure - The company is jointly held by Aixin Yuan Zhi Semiconductor (Chongqing) Co., Ltd., OmniVision Technologies, and NIO's Anhui Shenji Technology Co., Ltd. [1]