美国专利商标局（USPTO）近期披露的一项正式裁定显示，该局已撤销了此前准予对美光科技的两项重要专利进 行多方复审（IPR）的决定，并且驳回了长江存储发起的专利无效请求。 裁定书显示，长江存储发起的两项针对美光拥有的专利（专利号：US 8,945,996 B2 与 US 10,872,903 B2）的无效 请求已被正式终止。美国专利商标局局长约翰·斯奎尔斯在裁决书中宣称，该局驳回长江存储请求的原因在于 其"未能履行法律义务"。 据悉，这两项专利均涉及闪存的重要制造工艺。如果这两项专利被判无效，将在一定程度上削弱美光在与长江存 储的"诉讼大战"中的主动权。 此前，斯奎尔斯已于去年11月发布命令，要求长江存储解释：鉴于其已被美国商务部列入"实体清单"，为何该局 仍要承接长江存储针对美光的专利挑战。斯奎尔斯表示，长江存储发起的专利挑战，可能违背所谓美国的"外交 此前，彭博社分析指出，斯奎尔斯及其之前的代理局长寇克·斯图尔特，扩大了拒绝专利挑战申请的自由裁量因 素，以所谓"紧迫的经济、公共卫生或国家安全利益"为由拒绝了许多企业的诉求。 早在去年11月，中国商务部曾就相关问题回应称：中方注意到，美方近期以"国家安全"为 ...

第2笔成交价格为47.80元，成交8.40万股，成交金额401.52万元，溢价率为-11.27%，买方营业部为华泰 证券股份有限公司北京分公司，卖方营业部为中国中金财富证券有限公司无锡分公司。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月27日，力芯微收涨7.05%，收盘价为53.87元，发生5笔大宗交易，合计成交量27.3万股，成交金额 1304.94万元。 第1笔成交价格为47.80元，成交4.20万股，成交金额200.76万元，溢价率为-11.27%，买方营业部为国泰 海通证券股份有限公司深圳登良路证券营业部，卖方营业部为中国中金财富证券有限公司无锡分公司。 第3笔成交价格为47.80元，成交4.70万股，成交金额224.66万元，溢价率为-11.27%，买方营业部为中信 建投证券股份有限公司北京望京证券营业部，卖方营业部为中国中金财富证券有限公司无锡分公司。 责任编辑：小浪快报 第4笔成交价格为47.80元，成交5.50万股，成交金额262.90万元，溢价率为-11.27%，买方营业部为摩根 大通证券（中国）有限公司上海银城中路证券营业部，卖方营业部为中国中金财富证券 ...

2025年7月至2026年1月，国内半导体集成电路行业迎来融资热潮，资本布局呈现频次密集、赛道聚焦、区域集群化的鲜明特征。在国产替代攻坚与全球算 力需求爆发的双重驱动下，行业正步入资本与技术深度绑定、产业链协同升级的关键阶段。本次分析基于公开报道及笃威尔自有数据综合整理，涵盖股权 融资、战略投资、收购等各类资本事件，分析半导体集成电路的产业发展。 一、全国融资全景 规模攀升，结构分化显著 本期全国半导体集成电路领域资本活跃度持续攀升，全周期共发生融资事件681起，覆盖610家企业，吸引1130家投资机构参与布局，其中交易金额超10亿 元的大额融资事件达82起，充分彰显资本对半导体赛道的高度关注与重度投入，整体呈现规模与质量双升态势。 从融资结构来看，额度与轮次分布呈现鲜明特征，额度层面，"小额密集、大额集中"的格局显著，500万以下小额融资事件达578起，占比超84.9%，为行 业创新储备提供源头活水；而82起10亿级以上大额融资则高度集中于资本密集型领域，头部企业虹吸效应明显，长鑫科技、摩尔线程等龙头企业单次募资 规模均超数十亿元，凭借技术壁垒与量产能力占据资本高地。 轮次分布上，战略融资以307起占据绝对 ...

Core Insights - The "Zhihui Dongguan · Ju Chuang Future" 2025 Dongguan Innovation and Entrepreneurship Competition successfully held its semifinals and finals, with over 20 quality projects signing landing intentions with Fenggang Town, demonstrating the effectiveness of "using competitions to attract talent and promote production" [1][3] - The competition aligns with Dongguan's "14th Five-Year Plan" urban development strategy, aiming to gather innovation momentum in the Greater Bay Area and promote the development of new productivity [1][7] Group 1: Competition Overview - The competition focused on five strategic emerging fields: artificial intelligence, embodied robotics, new energy and new materials, low-altitude economy, and semiconductor integrated circuits, attracting 387 quality projects from various regions including Beijing, Shanghai, Shenzhen, Hong Kong, and Taiwan [3][4] - A total of 31 teams advanced to the semifinals, with project distribution aligning with Dongguan's industrial development direction: 9 projects in semiconductor integrated circuits, 9 in new energy and new materials, 8 in artificial intelligence, 3 in embodied robotics, and 2 in low-altitude economy [3][4] Group 2: Expert Guidance and Support - A high-level mentor team was formed, including academicians and industry experts, to provide systematic guidance on technology transfer, business model optimization, and resource matching for the participating projects [4][6] - The competition provided participants with 30,000 square meters of industrial space and a fund of 300 million yuan, along with incentives such as rent-free industrial space and recommendations for applying for innovation research projects [6][7] Group 3: Strategic Alignment and Future Development - The competition's success resonates with Dongguan's latest urban development strategy, emphasizing the cultivation of new productivity through projects focused on strategic emerging fields [7][8] - Fenggang Town aims to become a preferred location for project landing, leveraging its dual advantages of cost-effectiveness and high value, supported by high-end industrial platforms [6][7]

Core Viewpoint - The era of a technology-driven nation and a golden age for venture capital investment has arrived, as stated by Gao Hongliang, General Manager of the Smart Internet Industry Fund, during the Shenzhen Global Investment Conference [1][3]. Group 1: Industry Insights - The 14th Five-Year Plan emphasizes the comprehensive implementation of the "Artificial Intelligence +" initiative, which aims to empower various industries and accelerate the construction of a modern industrial system centered on advanced manufacturing [3]. - Strategic emerging industries such as new energy, new materials, aerospace, and low-altitude economy are prioritized, along with future industries like quantum technology, biomanufacturing, hydrogen energy, and brain-computer interfaces [3]. - Gao identifies seven key investment hotspots, including commercial aerospace, low-altitude economy, robotics, and deep-sea exploration, categorized under "AI + horizontal and vertical" frameworks [3]. Group 2: Financial Strategies - There is a call for increased support for technology innovation bonds ("chip funds") similar to past support for urban investment bonds and housing loans, with a focus on creating industry mother funds [4]. - The proposed "chip fund" should have a longer duration of at least 15 years to better support the growth of technology enterprises, contrasting with the current average lifespan of venture capital funds at 8 years [4]. - National and provincial-level AI and semiconductor groups are suggested to convert fund assets into equity assets, enhancing the technological capabilities of national capital [4]. Group 3: Economic Dynamics - The rapid advancement of productivity has fundamentally changed the supply-demand balance, leading to a scenario where supply exceeds demand, particularly with the integration of AI and robotics into production [5]. - A new distribution relationship is proposed, focusing on protecting consumer groups through labor laws and tax policies, ensuring that "workers" have regulated working hours while "consumers" have guaranteed livelihoods [5]. Group 4: Conference Outcomes - The Shenzhen Global Investment Conference featured over 1,000 enterprises and institutions from more than 30 countries, resulting in the signing of over 340 projects with an investment amount exceeding 770 billion yuan [6].

Core Viewpoint - The company has decided to terminate the issuance of shares and cash payment for asset acquisition, along with the related fundraising activities, after careful consideration and discussions with the counterparties [1] Group 1 - The second meeting of the second board of directors is scheduled for December 5, 2025, to review the termination of the asset acquisition proposal [1] - The decision to terminate the transaction was made after thorough research and friendly negotiations with the counterparties [1] - The company's production and operational status remains normal, and the termination of this transaction will not have a significant adverse impact on its financial condition [1]

Core Insights - The semiconductor industry in Gansu Province, particularly in Tianshui City, is experiencing significant growth, with a production increase of 18.53% year-on-year, reaching 43.11 billion chips, making it the second highest in the country [2][3] - Tianshui City has established itself as a hub for semiconductor enterprises, housing over 80% of Gansu's integrated circuit companies, and is recognized for its high-quality development in the semiconductor sector [2][3] - The city is focusing on quality improvement initiatives to enhance industrial competitiveness and has seen substantial economic growth, with industrial output value increasing by 8.0% year-on-year [3][5] Industry Development - Tianshui Semiconductor Co., Ltd. is the only full-industry chain enterprise in Gansu, covering chip design, wafer manufacturing, packaging, testing, and sales, and has achieved significant breakthroughs in critical technologies through independent innovation [1][2] - The integrated circuit industry in Tianshui has surpassed an annual output value of 20 billion yuan, with local companies like Huati Electronics and Tianshui Semiconductor being recognized as excellent chain leaders [1][2] - The city is implementing a "quality first" approach to strengthen enterprise quality, optimize industrial chains, and enhance regional brand recognition [6] Economic Impact - The mechanical manufacturing sector in Tianshui is advancing in high-end CNC machine tools, while the electrical and electronic industry is expanding its scale, contributing to the overall economic growth of the city [3][4] - The agricultural and food processing sectors are also showing robust growth, with a reported output value of 14.63 billion yuan in the first half of the year, reflecting a 10.6% increase [3][5] - Tianshui's industrial growth is supported by various initiatives, including the establishment of technology innovation funds and e-commerce platforms for agricultural products, leading to significant economic benefits [5][6]

Core Insights - The company reported a revenue of 592 million yuan for the first three quarters of 2025, representing a year-on-year growth of 19.32% [1] - The net loss attributable to shareholders of the listed company was 59.47 million yuan [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 81.12 million yuan [1] - The basic loss per share was 0.27 yuan [1]

Core Points - Guangzhou has launched an upgraded support policy for specialized, refined, distinctive, and innovative (referred to as "specialized and new") small and medium-sized enterprises (SMEs), with over 1 billion yuan allocated for various enterprise support measures over the next three years [2][3] - The city has cultivated 354 national-level "little giant" enterprises and 6,399 specialized and new SMEs, generating over 800 billion yuan in annual revenue, positioning them as a driving force for new productivity [3][10] - The support measures include 25 initiatives across seven areas, such as enhancing financial support, promoting digital transformation, and optimizing comprehensive services [3][4] Financial Support - New recognized "little giant" enterprises will receive a maximum reward of 1 million yuan, while national-level manufacturing champions can receive up to 1.5 million yuan [3] - Additional financial incentives include up to 500,000 yuan for specialized and new enterprises undergoing technological transformation and 100,000 yuan for "little giant" enterprises expanding their capital [4][8] Land and Cost Reduction - Guangzhou is implementing policies to reduce land acquisition costs for specialized and new SMEs, including long-term leases and flexible land transfer terms [6][7] - The city offers an "interest-free installment" policy for industrial projects, allowing enterprises to pay only 50% of the land transfer fee upfront [7] Innovation and Growth - Specialized and new enterprises in Guangzhou have an average growth rate of 18.1% over the past three years, significantly higher than the industry average [10] - The R&D expenditure of "little giant" enterprises is 8.8%, surpassing the city's average, with an average of 40.93 patents per "little giant" enterprise [11] Industry Focus - Over 60% of "little giant" enterprises are in the industrial foundation sector, with 90% involved in key industries such as intelligent networking, new energy vehicles, biomedicine, artificial intelligence, and semiconductors [12]

Group 1 - The core viewpoint of the article highlights the financial performance of Xidiwei, indicating a significant increase in revenue but continued net losses [1] - For the first half of 2025, the company reported an operating income of approximately 466 million yuan, representing a year-on-year increase of 102.73% [1] - The net loss attributable to shareholders for the same period was approximately 44.69 million yuan, with a basic earnings per share loss of 0.11 yuan [1] Group 2 - In comparison, for the first half of 2024, the company had an operating income of approximately 230 million yuan and a net loss of about 118 million yuan, with a basic earnings per share loss of 0.29 yuan [1] - As of the report date, the market capitalization of Xidiwei is 6.5 billion yuan [2]