新声半导体成立于2021年3月，系国家重点扶持的高新技术企业。业务方面，其专注于各类滤波器的设计与销售，产品涵盖BAW、SAW、TC- SAW、TF-SAW、IPD等类型，可提供从滤波器、双工器、多工器到模组的全系列产品，覆盖6GHz以下全频段。 近日，国产滤波器研发生产商深圳新声半导体有限公司（下称"新声半导体"）完成2.88亿元B+轮融资，本轮由洪泰基金领投，泓生资本、滕华投资、中山 金控、合肥市建投集团、滨湖金投集团跟投。 值得关注的是，新声半导体在本轮融资中，引入多地国资背景基金，如：合肥建投、滨湖金投，以及中山金控。 再看新声半导体，该公司成立于2021年3月，系国家重点扶持的高新技术企业。业务方面。其专注于各类滤波器的设计与销售，产品涵盖BAW、SAW、 TC-SAW、TF-SAW、IPD等类型，可提供从滤波器、双工器、多工器到模组的全系列产品，覆盖6GHz以下全频段。 据其官网信息，新声半导体创始团队由多位具备国际大厂背景的资深海归专家构成。截至目前，该公司已申请逾500项知识产权，授权发明专利超160项。 据其介绍，截至目前，该公司已有超100款产品投入量产。作为国产滤波器中少数拥有全栈自主设 ...

Core Points - Beijing Aofengyuan Technology Co., Ltd. (Aofengyuan) has disclosed its progress report on the guidance for its initial public offering (IPO) [2] - The IPO guidance was initiated in October 2023 and is expected to continue from April 2025 to June 2025 [2] Company Overview - Aofengyuan was established on June 30, 2004, with a registered capital of 35.926152 million yuan [3] - The company specializes in the research and development of microwave components, including power amplifiers, transceiver components, RF front-ends, high-power switch components, filters, duplexers, receivers, and frequency converters [3] - Aofengyuan's products are widely used in communications, telemetry, radar, and electronic countermeasure systems [3] Shareholding Structure - The controlling shareholders are Wang Xiaomei and Meng Jian, holding a combined stake of 71.41% [4] - Wang Xiaomei serves as the chairman and general manager, while Meng Jian is the director and deputy general manager [4] Management Background - Wang Xiaomei, born in March 1974, has a background in music education and has held various sales management positions before founding Aofengyuan [4] - Meng Jian, born in April 1983, holds a master's degree and has been involved in the company since its inception, focusing on core technology [5]

Core Viewpoint - The semiconductor company Jianwenlu (Zhejiang) has been filed for bankruptcy review by Suzhou Xinneng Environmental Technology Co., Ltd. on July 11, 2025, indicating significant financial distress within the company [2][3]. Company Overview - Jianwenlu Semiconductor was established in 2016, focusing on the mass production of RF chips, particularly targeting the 5G RF communication sector and high-frequency filters, which are considered critical technologies [3][4]. - The company has developed a complete set of mass production processes for surface acoustic wave filters, duplexers, and multiplexers, achieving performance levels comparable to leading international brands, and holds 57 patents, including 35 domestic and 22 PCT international patents [3][4]. Development Milestones - In 2019, Jianwenlu successfully completed the first version of its resonator chip with independent intellectual property rights [4]. - In 2020, the company achieved successful mass production of its Band 3 filter, utilizing aluminum nitride piezoelectric thin film device structures to circumvent international patent barriers [4]. - The first phase of the production line was initiated in March 2021, with a total investment of 1 billion yuan, capable of producing 1.63 billion MEMS RF chips annually, and was recognized as a significant provincial industrial project [4]. - By August 2022, the project was reported to have all equipment installed and was expected to commence production by the end of the month, with substantial orders already received [4]. - The company projected revenues exceeding 500 million yuan for 2024, with over 100 million yuan in orders by July 2023 [4]. Financial and Legal Issues - Jianwenlu Semiconductor has undergone four rounds of financing, attracting investments from various institutions, including Tsinghua Yangtze River Delta Research Institute and several venture capital firms [4]. - In July 2024, the company faced legal challenges due to patent agency contract disputes, followed by financial loan contract disputes and service contract disputes, leading to frozen equity and ultimately the bankruptcy filing [4].

Company Overview - Haoda Electronics has restarted its IPO process after previously withdrawing it in December 2022, with the guidance of Minsheng Securities [1] - The company specializes in the research, design, production, and sales of surface acoustic wave (SAW) radio frequency chips, with products including filters, duplexers, and oscillators [1][2] - Haoda Electronics aims to raise 960 million yuan for expansion projects and working capital [1] Product and Technology - The company has developed core technologies that allow it to design and manufacture high-performance SAW RF chip products [1] - Haoda Electronics utilizes CSP packaging technology, achieving product sizes of 0.9mm×0.7mm and 1.6mm×1.2mm, meeting industry miniaturization demands [1] - The company also employs WLP packaging technology, with filter and duplexer products reaching sizes of 0.8mm×0.6mm and 1.5mm×1.1mm, suitable for modular development [2] Market Position and Challenges - Haoda Electronics' products are widely used in the communication field, covering a frequency range of 30KHz to 3.6GHz, but the domestic industry still lags behind international leaders in technology [2] - The domestic SAW filter industry is in its early stages, with significant reliance on imports for mobile phone filters [2] - The major shareholder of Haoda Electronics is Wuxi Haoda Investment Co., Ltd., holding a direct stake of 25.19% [2]

Market Overview - The Shanghai Composite Index fell by 0.05%, the Shenzhen Component Index decreased by 0.41%, and the ChiNext Index dropped by 0.80% on May 26, with a total market turnover of 1,033.9 billion yuan, a decrease of 148.7 billion yuan from the previous day [1] - Nearly 3,800 stocks rose, with sectors such as controlled nuclear fusion, gaming, and beverage manufacturing leading the gains [1] Stock Performance - A total of 62 stocks hit the daily limit, with 10 stocks on consecutive limit-up days, and 23 stocks failed to hit the limit, resulting in a limit-up rate of 73% (excluding ST and delisted stocks) [3] - Notable stocks include: - Super Control Holdings with 16 consecutive limit-up days - Ha Welding Technology with 20% limit-up on two consecutive days - Suzhou Longjie with 12 limit-up days in 8 days [3] Key Stocks and Transactions - Wuhan Fanggu achieved a limit-up with a turnover of 1.244 billion yuan and a turnover rate of 16.75%, with net purchases from the Shenzhen Stock Connect special seat amounting to 86.06 million yuan [6][10] - Hongbo Co. also reached a limit-up with a turnover of 2.737 billion yuan and a turnover rate of 33.82%, with institutional net selling of 47.87 million yuan [15][16] - Kaimeite Gas hit a limit-up with a turnover of 1.318 billion yuan and a turnover rate of 19.02%, with institutional net purchases of 49.61 million yuan [20][21] Institutional Activity - The top three net purchases by institutions on the day were Wuhan Fanggu, Hongbo Co., and Kaimeite Gas, with net purchases of 194 million yuan, 170 million yuan, and 164 million yuan, respectively [6] - The top three net sales by institutions were Zhongzhou Special Materials, Snowman Co., and New World, with net sales of 104 million yuan, 92 million yuan, and 86 million yuan, respectively [7] Sector Highlights - The controlled nuclear fusion sector showed strong performance, with multiple stocks achieving significant gains [3] - The gaming sector also saw notable activity, contributing to the overall market performance [1] Summary of Key Stocks - Star Technology reached a limit-up with a turnover of 1.327 billion yuan and a turnover rate of 11.86%, with institutional net purchases of 59.82 million yuan [25] - Baobian Electric achieved a limit-up with a turnover of 1.266 billion yuan and a turnover rate of 7.41%, with net purchases from the Shanghai Stock Connect special seat amounting to 26.30 million yuan [25][29]

Summary of Key Points from Conference Call Records Industry or Company Involved - **Tungsten Industry**: Focus on strategic minerals and the impact of export controls on tungsten - **Huaihe Energy**: Involvement in coal, electricity, and logistics sectors - **5G-A Technology**: Development and deployment of advanced 5G technology Core Points and Arguments Tungsten Industry 1. **Export Control Measures**: The government has initiated actions to combat the smuggling of strategic minerals, including tungsten, which is essential in various industries such as automotive and aerospace [3][1] 2. **Tungsten Characteristics**: Tungsten is recognized for its high melting point, hardness, density, and thermal conductivity, earning it the nickname "industrial teeth" [3][1] 3. **Global Tungsten Supply**: By 2024, global tungsten reserves are projected to reach 4.6 million metric tons, with China contributing over 80% of the world's tungsten production [7][1] 4. **Demand and Applications**: The demand for tungsten is expected to reach 142,000 metric tons in 2024, primarily for hard alloys and tungsten steel, with significant applications in automotive and defense sectors [7][1] 5. **Recycling and Supply Challenges**: China's tungsten recycling rate is only 17%, indicating a gap in recovery and quality compared to international standards, which may affect future supply [7][1] Huaihe Energy 1. **Asset Injection Impact**: The company plans to acquire a significant stake in Huaihe Energy Power Group, which is expected to enhance its operational capacity and increase net profit by 105% [8][1] 2. **Coal Supply and Production**: Huaihe Energy has a strong coal supply chain, with a high coverage rate for long-term contracts, which positions it competitively in the market [11][1] 3. **Future Growth Potential**: The company has additional coal and power assets that could further increase its operational scale, with potential for significant growth in the coming years [11][1] 5G-A Technology 1. **Performance Enhancements**: 5G-A technology is expected to increase upload and download speeds by tenfold, significantly improving connectivity and reducing latency [12][1] 2. **Global Deployment**: Testing networks for 5G-A have been established across 31 provinces in China, with plans for expansion into international markets [12][1] 3. **Investment in Infrastructure**: There is a notable increase in capital expenditure from operators for 5G-A, indicating a strong commitment to enhancing network capabilities [15][1] Other Important but Possibly Overlooked Content - **Market Trends**: The tungsten sector is experiencing a bullish trend due to government actions against smuggling and the strategic importance of tungsten in various applications [4][1] - **Stock Performance**: Several companies within the tungsten industry and those involved in 5G technology have seen significant stock price increases, reflecting positive market sentiment [9][1][13][1] - **Long-term Outlook**: The overall outlook for both the tungsten industry and 5G-A technology remains positive, with expectations of sustained demand and growth opportunities in the coming years [7][1][15][1]