康达法意字【2025】第第0730号 致：宁波康强电子股份有限公司 北京市康达律师事务所（以下简称"本所"）接受宁波康强电子股份有限公司（以下简称"康强电 子"或"公司"）的委托，担任公司2025年员工持股计划（以下简称"本次员工持股计划"）的专项法律顾 问，依据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简 称"《证券法》"）、《关于上市公司实施员工持股计划试点的指导意见》（以下简称"《试点指导意 见》"）、《深圳证券交易所上市公司自律监管指引第1号一一主板上市公司规范运作》（以下简 称"《自律监管指引》"）、《律师事务所从事证券法律业务管理办法》、《律师事务所证券法律业务执 业规则（试行）》等有关法律、法规、规范性文件和《宁波康强电子股份有限公司章程》（以下简 称"《公司章程》"）的规定，按照律师行业公认的业务标准、道德规范和勤勉尽责精神，出具本法律意 见书。 本所律师仅依赖于本法律意见书出具日前已经发生或存在的事实以及《公司法》《证券法》《试点指导 意见》及其他现行的法律、法规和规范性文件的规定发表法律意见。对于本法律意见书至关重要而无法 得到独立证据支持的事实，本 ...

Core Viewpoint - Texas Instruments has formed a strategic partnership with UBTECH Robotics, the first publicly traded humanoid robot company, to enhance the application of humanoid robots in semiconductor manufacturing [1] Group 1: Strategic Collaboration - Texas Instruments has purchased UBTECH's Walker S2 industrial humanoid robot and is currently deploying it on its production line for testing and application [1] - The collaboration will involve UBTECH integrating more Texas Instruments components into the core parts of humanoid robots [1] Group 2: Future Developments - Both companies will engage in in-depth discussions and cooperation regarding humanoid robot products, technologies, and practical applications [1] - The partnership aims to explore strategic applications of humanoid robots within the semiconductor manufacturing industry [1]

Group 1 - The company, Naxin Microelectronics (02676.HK), plans to globally offer 19.0684 million shares, with 1.9069 million shares available in Hong Kong and 17.1615 million shares for international sale, along with an over-allotment option of 2.8602 million shares [1] - The subscription period for the offering is from November 28 to December 3, with a maximum offer price of HKD 116.00 per share, and an entry fee of approximately HKD 11,716.99 for a board lot of 100 shares [1] - The total expected fundraising amount is HKD 2.212 billion, with a net amount of HKD 2.096 billion, intended for strategic investments and/or acquisitions, expanding overseas sales networks, enhancing product offerings in automotive electronics, improving technical capabilities, and general corporate purposes [1] Group 2 - The company has introduced cornerstone investors including Hong Kong Good Easy International Limited and others, who will subscribe to approximately 9.3882 million shares at the offer price [2] - Naxin Microelectronics is expected to be listed on the main board on December 8, 2025, with China International Capital Corporation Hong Kong Securities Limited, CITIC Securities (Hong Kong) Limited, and Jianyin International Financial Limited acting as joint sponsors [2] - The company's main business includes the sale of semiconductor components, integrated circuits, sensors, and the development and consulting of related technologies and software [2] Group 3 - The company's net profits for the fiscal years 2023, 2024, and the first three quarters of 2025 (ending September 30) are projected to be -CNY 305 million, -CNY 403 million, and -CNY 140 million, reflecting year-on-year changes of -221.85%, -31.95%, and 65.54% respectively [3]

Group 1 - The company plans to globally offer 19.0684 million shares, with 1.9069 million shares available in Hong Kong and 17.1615 million shares for international sale, along with an over-allotment option of 2.8602 million shares [1] - The subscription period for the shares is from November 28 to December 3, with a maximum offer price of HKD 116.00 per share and an entry fee of approximately HKD 11,716.99 [1] - The total expected fundraising amount is HKD 2.212 billion, with a net amount of HKD 2.096 billion, which will be used for strategic investments, expanding overseas sales networks, enhancing product offerings, improving technical capabilities, and general corporate purposes [1] Group 2 - The company has introduced cornerstone investors including Hong Kong Good Easy International Limited and others, who will subscribe to approximately 9.3882 million shares at the offer price [2] - The company is expected to be listed on the main board on December 8, 2025, with China International Capital Corporation Hong Kong Securities Limited, CITIC Securities (Hong Kong) Limited, and Jianyin International Financial Limited as joint sponsors [2] - The company's main business includes the sale of semiconductor components, integrated circuits, sensors, and the development and consulting of related technologies [2] Group 3 - The company's net profits for the fiscal years 2023, 2024, and the first three quarters of 2025 (ending September 30) are projected to be -CNY 305 million, -CNY 403 million, and -CNY 140 million, reflecting year-on-year changes of -221.85%, -31.95%, and 65.54% respectively [3]

Group 1 - The Dutch Minister of Economic Affairs, Karremans, announced the suspension of intervention against Nexperia, indicating a potential easing of tensions after 50 days since the Dutch government's administrative takeover on September 30 [1] - The Chinese Ministry of Commerce welcomed the suspension but noted that it is only a first step towards resolving the underlying issues in the global semiconductor supply chain [3] - Nexperia's parent company, Wingtech, stated that the suspended ministerial order, effective for one year, restricts Nexperia and its global subsidiaries from making any adjustments to their assets, intellectual property, and personnel [3][4] Group 2 - Despite the suspension of the ministerial order, the corporate court's ruling remains in effect, limiting Wingtech's control over Nexperia and preventing the exercise of shareholder rights [4][6] - A legal expert highlighted that the corporate court's decision aligns with the Dutch Ministry of Economic Affairs' pressure on Nexperia, raising concerns about continued restrictions on Chinese shareholders and personnel [4] - Wingtech insiders emphasized that only a complete withdrawal of all Dutch government interventions and a correction of previous judicial decisions can resolve the control dispute over Nexperia [6] Group 3 - Nexperia is a crucial semiconductor supplier for the global automotive industry, with its Dongguan packaging plant producing over 50 billion semiconductor components annually, accounting for 80% of its global packaging capacity [6] - Automotive manufacturers are actively seeking alternative sources due to the instability caused by the Dutch government's interventions, with reports of companies like Volkswagen and Honda exploring short-term solutions [6]

Core Viewpoint - Daheng Technology, established in 1998 and listed in 2000, operates in the information technology and optoelectromechanical integration sectors, with a focus on technology advantages in its core business areas [1] Group 1: Business Performance - For Q3 2025, Daheng Technology reported revenue of 1.296 billion yuan, ranking 12th in the industry out of 35 companies, with the industry leader, iFlytek, generating 16.989 billion yuan [2] - The net profit for the same period was 84.63 million yuan, placing Daheng Technology 4th in the industry, while the top performer, Kingsoft Office, achieved a net profit of 1.164 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Daheng Technology's debt-to-asset ratio was 30.54%, higher than the industry average of 29.42% [3] - The gross profit margin for Q3 2025 was 36.10%, which is below the industry average of 63.59% [3] Group 3: Executive Compensation - The chairman and president, Xie Yan, received a salary of 1.0708 million yuan in 2024, an increase of 173,300 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 21.05% to 31,400 [5] - The average number of circulating A-shares held per shareholder increased by 26.66% to 13,900 [5]

Core Insights - Wentech Technology's stock price surged by 8.61% to 44.54 yuan, driven by significant performance growth despite a decline in revenue [1] - The company reported a net profit increase of 279.29% year-on-year for Q3 2025, while revenue decreased by 77.38% [1] - The semiconductor business achieved a revenue of 43 billion yuan in Q3, marking a 12.20% increase, and accounted for 49.29% of global revenue [1] Financial Performance - For Q3 2025, Wentech's revenue was 44.27 billion yuan, down 77.38% year-on-year, while net profit reached 10.40 billion yuan, up 279.29% [1] - In the first three quarters of 2025, total revenue was 297.69 billion yuan, a 44.00% decline, but net profit increased by 265.09% to 15.13 billion yuan [1] - The company's non-GAAP net profit for the first three quarters was 7.79 billion yuan, reflecting a 993.41% increase [1] Business Segments - The semiconductor segment generated 43 billion yuan in Q3, with a gross margin of 34.56% and a net profit of 7.24 billion yuan [1] - Following the acquisition of Nexperia, Wentech's semiconductor revenue grew from 15.90 billion yuan in 2019 to 147.15 billion yuan in 2024, nearly a ninefold increase [2] - The semiconductor business now represents 97% of total revenue after the divestiture of the product integration business [3] Strategic Adjustments - Wentech is focusing on its semiconductor business after being placed on the U.S. Entity List, leading to a strategic shift away from product integration [3] - The company has completed the sale of several subsidiaries related to product integration, which has significantly reduced its revenue from this segment [3] - Wentech is actively communicating with clients to ensure stable supply and quality of products from Nexperia amid ongoing uncertainties [4]

Core Viewpoint - Dahan Technology has undergone a significant change in its ownership structure, becoming a company without a controlling shareholder or actual controller following the judicial auction of shares held by its former controlling shareholder, Zheng Suzhen [1][2] Group 1: Ownership Change - Zheng Suzhen's 130 million shares, accounting for 29.75% of the total share capital, were auctioned for 1.712 billion yuan, leading to the company's transition to having no controlling shareholder or actual controller [1] - The auction was conducted through the Shandong Property Rights Exchange, and the ownership of the shares has been transferred to the buyer, lifting the freeze on the shares [1] - Following this change, Li Rongrong and Zhou Zhengchang collectively hold 40.46 million shares, becoming the largest shareholder and acting in concert, but they hold only 9.26% of the shares, which does not allow them to independently decide on the majority of board members [1][2] Group 2: Company Operations and Governance - Dahan Technology maintains independence in assets, business, and personnel from its former controlling shareholder, with no incidents of non-operating fund occupation or illegal guarantees reported [2] - The company’s governance structure will continue to operate under the "three meetings and one layer" mechanism, ensuring independent management without significant adverse effects on operations [2] - Dahan Technology specializes in mechatronic products, information technology, office automation products, digital television network editing and broadcasting systems, and semiconductor components, employing a business model of "independent research and development + production + supporting services + agency" [2] Group 3: Strategic Developments - The company announced plans to invest 600 million yuan to establish a wholly-owned subsidiary, Shanghai Xinhengxin Ruike Technology Co., Ltd., focusing on semiconductor-related auxiliary equipment [2] - This subsidiary aims to enhance the company's business layout in the semiconductor industry and emerging sectors, facilitating multidimensional strategic development breakthroughs [2]

Core Insights - The company, Yangjie Electronics Technology Co., Ltd., has become a national manufacturing champion in the semiconductor industry after 19 years of development, with projected revenues exceeding 6 billion yuan and net profits over 1 billion yuan in 2024 [1] - The company is a key supplier for major clients such as Huawei, BYD, CATL, LONGi Green Energy, and Philips, and is recognized as a leading player in the domestic semiconductor rectifier chip and device market [1] - The company aims to achieve 10 billion yuan in sales by 2027 and 15 billion yuan by 2030, with a target of entering the global top ten and increasing overseas revenue to 50% [1] Company Development - The company is actively expanding its global footprint by establishing its first overseas packaging manufacturing base in Vietnam, which will commence mass production in December 2024 [2] - The company plans to invest in wafer production lines in Vietnam and Malaysia, enhancing its global strategy and increasing investment in overseas R&D centers [2] Regional Economic Performance - Yangzhou city has shown strong performance in foreign investment, with actual foreign capital utilization reaching 780 million USD from January to August 2023, a year-on-year increase of 23% [2] - The city achieved an import and export volume of 86.42 billion yuan from January to August 2023, reflecting a year-on-year growth of 7.4%, ranking fourth in Jiangsu province [3]