资料显示，深圳佰维存储科技股份有限公司位于广东省深圳市南山区桃源街道平山社区留仙大道1213号 众冠红花岭工业南区2区4、8栋1层-3层及4栋4层，成立日期2010年9月6日，上市日期2022年12月30日， 公司主营业务涉及半导体存储器的研发、生产和销售,主要产品及服务包括智能终端存储芯片、消费级 存储模组、工业级存储模组及先进封测服务。主营业务收入构成为：存储产品48.77%，存储产品:嵌入 式存储29.93%，存储产品:PC存储18.12%，其他1.37%，先进封测服务1.09%，存储产品:工车规存储 0.71%。 从基金十大重仓股角度 10月9日，佰维存储涨5.99%，截至发稿，报110.55元/股，成交6.16亿元，换手率1.71%，总市值515.95 亿元。 数据显示，银华基金旗下1只基金重仓佰维存储。银华多元动力灵活配置混合（005251）二季度增持 3273股，持有股数4.8万股，占基金净值比例为4.07%，位居第六大重仓股。根据测算，今日浮盈赚取约 29.97万元。 银华多元动力灵活配置混合（005251）成立日期2017年12月14日，最新规模7935.64万。今年以来收益 56.28%， ...

瑞财经 吴文婷9月22日，佰维存储发布公告称，公司于2025年9月22日召开了第四届董事会第五次会议，审议通过了《关于公司发行H股股票并在香港联合交 易所有限公司上市的议案》《关于公司发行H股股票并在香港联合交易所有限公司上市方案的议案》等相关议案。 截至目前，公司正积极与相关中介机构就本次发行上市的相关工作进行商讨，除本次董事会审议通过的相关议案外，其他关于本次发行上市的具体细节尚未 最终确定。 佰维存储主要从事半导体存储器的研发设计、封装测试、生产和销售，主要产品及服务为半导体存储器和先进封测服务，其中半导体存储器按照应用领域不 同又分为嵌入式存储、PC存储、工车规存储、企业级存储和移动存储等。 2025上半年，佰维存储实现营收为39.12亿元，同比增长13.7%；归母净利润为-2.26亿元，而上年同期为2.83亿元。 | 主要会计数据 | 本报告期 (1-6月) | 上年同期 | | --- | --- | --- | | 营业收入 | 3.912.336.913.69 | 3.440.780.321.9 | | 利润总额 | -308.945.464.09 | 343.681.440.97 | | 归 ...

Group 1 - The company announced plans to issue overseas listed shares (H-shares) and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy and brand image [2] - The company specializes in the research, design, packaging, testing, production, and sales of semiconductor memory, with products categorized into embedded storage, PC storage, automotive-grade storage, enterprise storage, and mobile storage [4] - In the first half of 2025, the company achieved operating revenue of 3.912 billion yuan, a year-on-year increase of 13.7%, but reported a net profit attributable to shareholders of -226 million yuan, compared to a profit of 283 million yuan in the same period last year [5] Group 2 - Starting from the second quarter of 2025, the company saw a recovery in sales revenue and gross margin as storage prices stabilized, with a gross margin increase of 11.7 percentage points quarter-on-quarter [5] - The company completed a targeted issuance of shares, raising approximately 1.871 billion yuan, which will be used for expanding its advanced packaging and storage manufacturing base and wafer-level advanced packaging projects [5] - The wafer-level advanced packaging project is expected to become a new growth point for future performance, with construction progressing and production expected to commence in the second half of 2025 [6]

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！ 来自深圳的A股上市公司佰维存储(688525.SH)发布公告称，为深化公司全球化战略布局，提升公司国际 化品牌形象，并进一步提升公司核心竞争力，公司拟发行境外上市股份(H股)股票并申请在香港联合交 易所有限公司主板挂牌上市。根据相关法律法规的要求，公司本次发行上市符合中国境内法律、法规和 规范性文件的要求和条件，同意在经过董事会和股东会审议后向中国证券监督管理委员会、香港联交所 等有关监管机构提出本次境外发行股票并上市的申请。 佰维存储表示，截至目前，公司正积极与相关中介机构就本次发行上市的相关工作进行商讨，除本次董 事会审议通过的相关议案外，其他关于本次发行上市的具体细节尚未最终确定。 佰维存储同时公告，董事会同意公司聘任天健国际会计师事务所有限公司为公司香港上市的审计机构。 佰维存储，主要从事半导体存储器的研发设计、封装测试、生产和销售，主要产品及服务为半导体存储 器和先进封测服务，致力于成为全球一流的存储与先进封测厂商。公司紧紧围绕半导体存储器产业链， 构筑了研发封测一体化的经营模式，布局存储解决方案研发、主控芯片设计、存储器封测 ...

Group 1 - The core point of the news is that the shareholder, the National Integrated Circuit Fund Phase II, plans to reduce its stake in Baiwei Storage by up to 9.225 million shares, which is no more than 2% of the total shares [1][5] - The reduction period is set from September 5, 2025, to December 4, 2025, with the selling price determined by market conditions [2] - The National Integrated Circuit Fund, commonly referred to as the "Big Fund," has a history of reducing stakes in companies after their IPOs, which is seen as a necessary step for the fund to achieve a healthy exit after investment [5] Group 2 - Baiwei Storage specializes in the research, design, packaging, testing, production, and sales of semiconductor memory [5] - The main products of Baiwei Storage include embedded storage, PC storage, automotive-grade storage, and advanced packaging and testing services [6]

Financial Performance - The total assets of the company at the end of the reporting period amounted to 11.56 billion yuan, an increase from 7.96 billion yuan at the end of the previous year [1] - The net assets attributable to shareholders of the listed company increased from 2.41 billion yuan to 4.20 billion yuan [1] - Operating revenue for the reporting period was 3.91 billion yuan, up from 3.44 billion yuan in the previous year [1] - The total profit for the period was a loss of 308.95 million yuan, compared to a profit of 343.68 million yuan in the previous year [1] - The net profit attributable to shareholders of the listed company was a loss of 225.80 million yuan, down from a profit of 283.36 million yuan [1] - The net cash flow from operating activities was a negative 700.56 million yuan, compared to a positive 649.91 million yuan in the previous year [1] - The basic and diluted earnings per share were both -0.51 yuan, compared to 0.65 yuan in the previous year [1] - The research and development expenditure accounted for 6.98% of operating revenue, an increase from 6.11% [1] Research and Development - In the first half of 2025, the company invested 272.93 million yuan in research and development [2] - As of the end of the reporting period, the number of R&D personnel reached 1,054, representing 38.65% of the total workforce [2] - The company has obtained a total of 393 domestic and international patents and 53 software copyrights, including 171 invention patents, 166 utility model patents, and 56 design patents [2] Company Overview - Shenzhen Baiwei Storage Technology Co., Ltd. was established in 2010 and was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 30, 2022 [2] - The company primarily engages in the research, design, packaging, testing, production, and sales of semiconductor memory, with products categorized into embedded storage, PC storage, automotive-grade storage, enterprise-level storage, and mobile storage [2]

Core Viewpoint - The company, Baiwei Storage, is experiencing short-term pressure on its performance due to fluctuations in memory prices, leading to significant losses in the first half of 2025 despite a year-on-year revenue increase. Financial Performance - In the first half of 2025, Baiwei Storage achieved operating revenue of 3.912 billion yuan, a year-on-year increase of 13.7% [1] - The net profit attributable to shareholders was a loss of 226 million yuan, a year-on-year decline of 179.68% [1] - The net profit after deducting non-recurring gains and losses was a loss of 701 million yuan, a year-on-year decrease of 207.79% [1] - The comprehensive gross profit margins from 2022 to the first half of 2025 were 13.73%, 1.71%, 18.19%, and 9.07% respectively [5] Market Conditions - Starting from the third quarter of 2024, memory prices have been declining quarterly, reaching a low point in the first quarter of 2025, which has adversely affected the company's sales prices [5] - The company noted that from the second quarter of 2025, as memory prices stabilized and key projects were gradually delivered, sales revenue and gross margins began to improve [5] Research and Development - Baiwei Storage continues to increase its investment in research and development, with R&D expenses in the first half of 2025 amounting to 273 million yuan, a year-on-year increase of 29.77% [2][8] - The proportion of R&D expenses to operating revenue was 6.98%, an increase of 0.87 percentage points year-on-year [8] - As of June 30, 2025, the number of R&D personnel reached 1,054, an increase of 304 year-on-year, accounting for 38.65% of the total workforce [8] Inventory and Cash Flow - As of June 30, 2025, the total assets of Baiwei Storage reached 11.556 billion yuan, with inventory amounting to 4.382 billion yuan, a 23.89% increase from the end of 2024 [9] - The net cash flow from operating activities was -700 million yuan in the first half of 2025, indicating high cash expenditures on raw materials due to strategic procurement [8] Investment Activities - Baiwei Storage announced a joint investment in Beijing Xingyun Integrated Circuit Co., Ltd., with a total investment of 1.67 million yuan, aimed at enhancing understanding of edge AI solutions [10]

Group 1 - The company reported a revenue of 3.912 billion yuan for the first half of 2025, representing a year-on-year growth of 13.70%, with a quarter-on-quarter increase of 53.5% in the second quarter [1] - The company specializes in the research, design, packaging, testing, production, and sales of semiconductor memory, with products categorized into embedded storage, PC storage, automotive storage, enterprise storage, and mobile storage [1] - The company is focusing on innovation across six application areas: mobile smart terminals, PCs, industrial terminals, data centers, smart vehicles, and mobile storage, developing a comprehensive and differentiated product system [1] Group 2 - Due to the global macroeconomic environment, storage prices began to decline from the third quarter of 2024, reaching a low point in the first quarter of 2025, leading to significant price reductions in product sales [2] - Starting from the second quarter of 2025, as storage prices stabilized and key projects were gradually delivered, the company's sales revenue and gross margin began to recover, with a quarter-on-quarter increase of 11.7 percentage points in gross margin for the second quarter [2] - The company increased its R&D investment in chip design, firmware design, new product development, and advanced packaging testing by 29.77% year-on-year, with a total R&D expense of 1.5 billion yuan for the first half of 2025 [2]

Core Viewpoint - The company Bawei Storage (688525) reported a significant recovery in sales and gross margin in the second quarter of 2025, driven by stabilizing storage prices and the delivery of key projects, alongside plans to invest in AI enterprises [1][2][3]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 3.912 billion yuan, a year-on-year increase of 13.7%, while the net profit attributable to shareholders was -226 million yuan [2]. - In the second quarter, the company's operating revenue increased by 53.5% quarter-on-quarter, with a gross margin recovery of 11.7 percentage points [2]. - The operating cash flow for the first half of the year was negative, primarily due to inventory buildup for major clients [2]. Investment and Capital Structure - The company completed a targeted issuance of shares, raising a net amount of 1.871 billion yuan for expansion projects related to advanced packaging and storage manufacturing [3]. - Total assets increased by 45.16% compared to the beginning of the period, and equity attributable to the parent company grew by 74.29% [3]. Product Development and Market Position - Bawei Storage's main products include semiconductor storage and advanced packaging services, with a focus on embedded storage, PC storage, automotive-grade storage, enterprise storage, and mobile storage [4]. - The company has successfully delivered its self-developed main control chip, eMMC (SP1800), to major wearable device manufacturers [4]. - In the mobile sector, embedded storage products have been adopted by well-known clients such as OPPO and VIVO, while SSD products have entered major PC manufacturers like Lenovo and HP [5]. Strategic Investments - The company plans to invest in Beijing Xingyun Integrated Circuit Co., Ltd. through its wholly-owned subsidiary, Hainan Nanbaisuan Technology Co., Ltd., alongside other partners [6]. - The investment aims to enhance the company's understanding of edge AI solutions and is based on the potential growth of the target company, which has not yet turned a profit [7].

Core Viewpoint - The company reported a significant improvement in its second-quarter performance, with a notable increase in sales gross margin and a strategic focus on AI-related storage solutions, indicating a positive growth trajectory in the semiconductor storage industry. Financial Performance - For the first half of 2025, the company achieved operating revenue of 3.912 billion yuan, a year-on-year increase of 13.70% [1] - The net profit attributable to shareholders was -226 million yuan, while the net profit excluding share-based payment expenses was -75.57 million yuan [1] - In the second quarter, the company recorded a net profit of 41.29 million yuan after excluding share-based payment expenses, indicating a recovery in profitability [1] Product Development and AI Integration - The company has established a comprehensive product layout for AI applications, covering various scenarios such as AI smartphones, AI PCs, and AI wearables [2] - It has launched embedded storage products like UFS and LPDDR5X, with mass production of high-capacity LPDDR5X products supporting transmission rates of up to 8,533 Mbps [2] - The company is a key supplier for major brands like Meta and Google, providing storage solutions for AI glasses and smart devices [2] Research and Development Investment - The company increased its R&D expenditure to 273 million yuan in the first half of 2025, a year-on-year increase of 29.77% [3] - The number of R&D personnel rose to 1,054, reflecting a 40.53% increase compared to the previous year [3] - The company has obtained 393 domestic and international patents, including 171 invention patents, and is actively developing self-researched storage controllers [3] Capital Raising and Future Growth - The company completed a targeted issuance of shares, raising a net amount of 1.871 billion yuan, primarily for expanding its advanced packaging and storage manufacturing base [4] - The advanced packaging project is expected to enhance the company's production capacity and meet the growing demand for high-capacity storage solutions in AI and smart driving sectors [4] - The storage industry is entering a new upward cycle, with major manufacturers increasing prices, indicating a favorable market environment for the company's future performance [4]