一、复牌 二、定增 1、厦门港务：拟发行股份及支付现金购买厦门国际港务，交易价格为61.78亿元。 2、浙江仙通：拟定增募资不超过10.5亿元，用于汽车无边框密封条智能制造项目、研发中心升级建设 项目、补充流动资金。 三、股权转让 超讯通信：控股股东梁建华拟协议转让5%。 1、观想科技：拟通过发行股份及支付现金方式购买辽晶电子100%股份，股票复牌；后者专注半导体集 成电路与分立器件研发生产，产品覆盖二极管、三极管、达林顿晶体管阵列、场效应晶体管阵列等，广 泛应用于航天、航空、船舶、兵器等高壁垒领域。 2、思维列控：终止筹划控制权变更事项，股票复牌。 3、百花医药：终止筹划控制权变更事项，股票复牌。 4、5天3板国晟科技：10月31日至1月6日期间累计涨幅370.2% 明起停牌核查 5、16天12板嘉美包装：股价涨幅异常，股票停牌核查。 四、对外投资、日常经营 五、业绩变动 1、超颖电子：变更AI算力高阶印制电路板扩产项目，投资金额由14.68亿元调整为33.15亿元，项目达 产年将形成年产16.65万平方米印制电路板的生产能力。 1、利尔化学：预计2025年净利润4.6亿元-5亿元，同比增长113.62%- ...

2025年12月21日，国防科技信息化领域上市公司观想科技发布公告，称拟筹划发行股份购买锦州辽晶电 子科技股份有限公司（以下简称"辽晶电子"）不低于60%股权，并募集配套资金，股票自12月22日起停 牌，预计10个交易日内披露交易方案。这场跨界并购，不仅标志着观想科技从国防信息化向半导体领域 的战略延伸，更折射出当前"科技+并购"浪潮下硬科技企业的转型逻辑。 2025年12月21日，国防科技信息化领域上市公司观想科技发布公告，称拟筹划发行股份购买锦州辽晶电 子科技股份有限公司（以下简称"辽晶电子"）不低于60%股权，并募集配套资金，股票自12月22日起停 牌，预计10个交易日内披露交易方案。这场跨界并购，不仅标志着观想科技从国防信息化向半导体领域 的战略延伸，更折射出当前"科技+并购"浪潮下硬科技企业的转型逻辑。 公告表示，公司与本次交易的主要交易对方已签署了《股权收购框架协议》，初步达成购买资产的意 向。最终股份转让数量、比例、交易价格、支付方式、业绩补偿安排、股份锁定安排、违约条款等由交 易各方另行签署正式股份收购协议确定。如正式股份收购协议与意向协议有约定不一致，以正式股份收 购协议的内容为准。 标的公 ...

12月21日晚间，观想科技（301213）发布公告称，公司正在筹划发行股份购买资产并募集配套资金事项，因有关事项尚存不确定性，公司股票自12月22日 开市起停牌，预计在不超过10个交易日的时间内披露本次交易方案。 截至12月19日收盘，观想科技股价报69.05元/股，涨幅达3.35%，总市值为55.24亿元。 目前，辽晶电子的主导产品包括二极管、三极管、达林顿晶体管、达林顿晶体管阵列、场效应晶体管阵列、三端集成稳压器、电流型PWM控制器、厚膜 电路、混合集成电路等，应用于航天、航空、船舶、兵器、电子、核物理等领域。 业绩方面，观想科技2021年12月在创业板上市，公司主要从事国防科技信息化领域相关业务。不过，上市4年来，公司业绩表现并不理想。2025年前三季 度，观想科技实现营业收入6536.43万元，同比增长4.86%；归母净利润为76.30万元，同比下降86.14%。 公告显示，观想科技筹划发行股份购买的资产是锦州辽晶电子科技股份有限公司（简称"辽晶电子"）。目前，观想科技正与辽晶电子的各个股东接洽，初 步确定的交易对方为合计持有辽晶电子67.69%股权的股东。 公开资料显示，辽晶电子成立于2007年，是 ...

公告显示，观想科技筹划发行股份购买的资产是锦州辽晶电子科技股份有限公司（简称"辽晶电子"）。目前，观想科技正与辽晶电子的各个股东接洽，初 步确定的交易对方为合计持有辽晶电子67.69%股权的股东。 公开资料显示，辽晶电子成立于2007年，是在原辽宁晶体管厂的基础上建立的专业从事半导体集成电路、分立器件科研、生产于一体的高新技术企业，已 通过国家级专精特新"小巨人"企业等认定。 目前，辽晶电子的主导产品包括二极管、三极管、达林顿晶体管、达林顿晶体管阵列、场效应晶体管阵列、三端集成稳压器、电流型PWM控制器、厚膜 电路、混合集成电路等，应用于航天、航空、船舶、兵器、电子、核物理等领域。 天眼查显示，辽晶电子对外投资了4家企业，分别是四川辽晶电子科技有限公司、成都芯海芯为科技有限公司、四川盈腾瑞德科技股份有限公司和锦州市 鸿昕电子有限责任公司。除锦州市鸿昕电子有限责任公司注销外，其余3家公司均处于存续状态。辽晶电子的实际控制人、董事长兼总经理为苏舟，后者 的直接持股比例为36.41%。 12月21日晚间，观想科技（301213）发布公告称，公司正在筹划发行股份购买资产并募集配套资金事项，因有关事项尚存不确定性，公司 ...

【文/观察者网 柳白】 安世荷兰与中国子公司的博弈仍在继续。路透社12月19日独家报道说，一份信件显示，安世中国已与本 土企业锁定硅晶圆供应，足以覆盖其某一类功率芯片在2026年的全部生产需求。此前，荷兰母公司已停 止向该中国业务实体供应晶圆。 分析人士认为，此举将确保安世中国能够继续生产绝缘栅双极晶体管（IGBT）功率芯片及模块。这类 芯片和模块是用于调节电动汽车及工业设备电流的核心开关器件。 报道称，尽管上月中荷在政府层面缓和了局势，但围绕安世半导体控制权的法律诉讼和内部博弈仍在持 续。安世中国和闻泰科技均发出警告，若无法达成长期解决方案，芯片供应中断的局面可能再度出现。 一位知情人士透露，安世中国已告知本土分销商，由于来自荷兰的晶圆供应短期内无望恢复，其位于中 国广东省东莞市工厂的晶圆库存已处于低位。 该知情人士表示，晶圆库存不足的问题已开始导致中国本土车企面临安世半导体芯片短缺，受影响的主 要是该公司的核心畅销产品——逻辑器件、晶体管和二极管。 日本本田汽车公司本周早些时候也表示，受芯片短缺影响，其在中国和日本的部分工厂将不得不临时停 产。 安世中国在信中称，鼎泰匠芯科技将为其供应12英寸车规级IGB ...

Core Viewpoint - The semiconductor supply chain for the automotive industry is undergoing a fundamental transformation, shifting from an efficiency-first approach to prioritizing safety and controllability in response to recent chip shortages [1][21]. Group 1: Impact of Ansys Semiconductor Crisis - Ansys Semiconductor, as the largest supplier of basic semiconductor devices, holds approximately 40% of the global automotive discrete device market share, and its supply fluctuations have led to production cuts or temporary shutdowns for major automakers like Honda, Ford, Volkswagen, and Nissan [1][3]. - The crisis highlights the structural risks within the automotive chip supply chain, emphasizing the industry's demand for safety and reliability, which complicates the rapid replacement of suppliers [3][4]. Group 2: Changes in Automotive Chip Supply Chain Logic - The automotive industry has experienced its second major chip shortage in five years, with the previous shortage during the pandemic primarily caused by supply-demand imbalances [3][5]. - The current crisis has revealed that the global automotive chip inventory turnover days are generally below 40 days, significantly lower than the 60-day safety level, indicating that the industry's focus on low inventory is unsustainable in the face of supply fluctuations [4][5]. Group 3: Localization Strategies of International Chip Manufacturers - Major international automotive chip manufacturers, including Infineon, STMicroelectronics, NXP, and Texas Instruments, are accelerating their localization strategies in China to enhance supply chain stability [7][11]. - Infineon has launched a "local for local" strategy, aiming for localized production of various products by 2027, while NXP has established a dedicated China division to adapt to local market needs [7][8][9]. Group 4: Opportunities and Challenges for Domestic Chip Manufacturers - The restructuring of the automotive supply chain presents unprecedented opportunities for domestic chip manufacturers, with the localization rate of automotive chips in China expected to rise from less than 5% in 2020 to 20% by the end of 2024 [16][17]. - Despite the opportunities, domestic manufacturers face challenges such as high certification barriers, longer certification cycles, and reliance on foreign EDA tools, which can hinder their competitiveness [17][19]. Group 5: Future Trends in the Automotive Chip Industry - The automotive chip industry is expected to evolve towards a more resilient and diversified supply chain, balancing global and regional strategies, with a focus on local production and multi-source backup [21]. - The trend of "local for local" is becoming a collective action among global semiconductor companies, reflecting a recognition of the importance of the Chinese market and the need for supply chain security [14][12].

Core Insights - Nexperia's supply chain disruptions are impacting the global automotive industry, highlighting structural vulnerabilities that cannot be overlooked [1] - The semiconductor industry is heavily reliant on a few suppliers, and geopolitical tensions can quickly lead to production halts [1] - Yole Group emphasizes the strategic importance of disassembly analysis in understanding competitors' innovations and strategies in the semiconductor landscape [1] Group 1: Nexperia's Role in the Automotive Ecosystem - Nexperia plays a critical role in the automotive ecosystem, providing essential components such as diodes, transistors, and MOSFETs for vehicle control units and power electronics [1] - Since 2020, 75% of the 400 automotive systems analyzed by Yole Group contain at least one Nexperia component, particularly in ADAS, infotainment, telematics, and electrification controllers [2] - Nexperia's components account for 1% of the semiconductor electronic bill of materials (eBOM), but they are crucial for the manufacturing process [4] Group 2: Financial Impact and Customer Base - In 2024, Nexperia's revenue is projected to reach $2.06 billion, with over 50% derived from automotive applications [7] - The company's customer base includes major automotive manufacturers in Europe and the U.S., as well as some Asian manufacturers, indicating its widespread influence [7] - Nearly every automotive manufacturer utilizes Nexperia's products, often without their knowledge, underscoring the company's foundational role in the automotive semiconductor ecosystem [7] Group 3: Supply Chain Challenges and Lessons Learned - The automotive industry is currently relying on existing inventory to maintain production, but prolonged supply chain disruptions could lead to shutdowns within weeks due to low inventory levels [7] - The recent semiconductor crisis during the COVID-19 pandemic has made OEMs aware of their dependency on immediate semiconductor supply [8] - Although many of Nexperia's products are technically simple and can be substituted, the challenges lie in qualification, validation, and logistics, which require time [8] Group 4: Future Trends and Demand - The Nexperia situation coincides with a pivotal moment for automotive manufacturers, as the integration of electrification, digitalization, and artificial intelligence is driving unprecedented semiconductor demand [9]

Core Viewpoint - The company, Bluestar Electronics, is engaged in semiconductor packaging and testing, with a focus on high-performance SSD products and advanced packaging technologies, indicating potential growth in the semiconductor industry driven by AI and other technological advancements [2][3][8]. Company Overview - Bluestar Electronics, established on December 30, 1998, is located in Foshan, Guangdong Province, and was listed on August 10, 2023. It is recognized as a national high-tech enterprise specializing in semiconductor device manufacturing and packaging testing [8]. - The company's main revenue sources are self-owned brands (49.20%), packaging and testing services (48.54%), and other supplementary services (2.26%) [8]. Financial Performance - As of September 30, 2025, Bluestar Electronics reported a revenue of 518 million yuan, reflecting a year-on-year growth of 2.55%. However, the net profit attributable to the parent company was a loss of 26.5 million yuan, a significant decrease of 28,229.49% compared to the previous period [9]. - The company has distributed a total of 68 million yuan in dividends since its A-share listing [10]. Market Activity - On December 4, 2023, Bluestar Electronics' stock rose by 1.19%, with a trading volume of 224 million yuan and a turnover rate of 6.77%, leading to a total market capitalization of 5.117 billion yuan [1]. - The stock has seen a net inflow of 3.92 million yuan from major investors, indicating a slight increase in interest, although the overall trend remains unclear [5][6]. Technological Advancements - The company has achieved automation and intelligence in the entire packaging and testing process, with capabilities for 12-inch wafer packaging, particularly in power semiconductors and third-generation semiconductor materials [2][4]. - Bluestar Electronics is focusing on providing customized solutions for storage needs in the AI era, including enterprise-grade SSDs and related technologies [2].

Group 1 - The core viewpoint of the article is that Blue Arrow Electronics (301348) has a diverse product range that includes diodes, LDOs, LED drivers, lithium battery protection ICs, DC-DC converters, and ESD devices, which are applicable in consumer electronics such as laptops, tablets, smartphones, and digital cameras [1] Group 2 - The company engages with investors through an interactive platform, indicating a commitment to transparency and communication [1] - The product applications highlight the company's involvement in the growing consumer electronics market, suggesting potential for future growth [1]

Core Viewpoint - The company, Blue Arrow Electronics, is actively involved in the automotive electronics sector, particularly in vehicle networking and communication applications, although its current sales contribution from these products is relatively low and has not significantly impacted its overall performance [2]. Group 1: Product Applications - The company's automotive-grade MOSFETs, diodes, and LDOs are applicable in vehicle networking, wireless communication, and monitoring and warning systems [2]. - Blue Arrow Electronics is supplying automotive electronic products to BYD New Energy, indicating a strategic partnership in the growing electric vehicle market [2]. Group 2: Sales Impact - The sales revenue from automotive electronic products currently represents a small portion of the company's total sales, suggesting that while there is potential for growth, it has not yet translated into a major impact on the company's financial performance [2].