近日，豪威集团发布公告称，公司控股股东虞仁荣计划将于2025年10月29日至2026年1月28日期间，通 过大宗交易方式减持公司股份不超过2400万股，减持比例合计不超过公司股份总数的1.99%。 据了解，虞仁荣此次减持的原因是为归还借款并降低质押率。 分业务来看，图像传感器解决方案贡献收入103.46亿元，占总营收比重的74.21%，较上年同期增加 11.10%，主要得益于汽车电子、全景、运动相机等新兴领域需求的增长。 数据显示，截至9月26日，虞仁荣及其一致行动人累计质押股份1.98亿股，占其持有股份的48.54%及公 司总股本的16.44%，股权质押率处于较高水平。其中，未来半年内到期的质押股份2538万股，对应融 资余额为11亿元；未来一年内到期的质押股份约1.1亿股，对应融资余额55.58亿元。 其中，汽车CIS业务的收入为37.89亿，同比增长30.04%。据其港股上市招股书显示，豪威科技在2024年 全球汽车CIS市场市占率达32.9%，并有望在2024-2026年持续提升在汽车CIS市场市占率。 此次减持也并非是虞仁荣首次减持豪威集团。自2021年1月至今，虞仁荣已累计减持3890万股股份。截 ...

9月30日晚间，A股芯片龙头之一的豪威集团公告，公司控股股东虞仁荣为归还其借款并降低质押率，计划自本公告披露之日起15个交易日后的3个月内通 过大宗交易方式减持公司股份不超过2400万股，减持比例合计不超过公司股份总数的1.99%。上述股份减持价格按照减持实施时的市场价格确定。 | 股东名称 | 虞仁荣 | | --- | --- | | 计划减持数量 | 不超过:24.000.000 股 | | 计划减持比例 | 不超过:1.99% | | 减持方式及对应减持数量 | 大宗交易减持,不超过:24,000,000 股 | | 减持期间 | 2025年10月29日~2026年1月28日 | | 拟减持股份来源 | IPO 前取得 | | 拟减持原因 | 归还借款并降低质押率 | 据公告，虞仁荣目前持有公司股份333472250股，占公司目前总股本的27.65%。虞仁荣所持上述股份来源于公司首次公开发行股票前已取得的股份。 9月30日，豪威集团收盘报151.17元/股，以此粗略计算，虞仁荣拟最高减持的这2400万股的最新市值为36.28亿元。 读创财经注意到，对于虞仁荣此次堪称巨额的减持计划，网友在股吧的反应不一 ...

（编辑 任世碧） 证券日报网讯 豪威集团9月26日在互动平台回答投资者提问时表示，公司是全球知名提供先进数字成像 解决方案的芯片设计公司，致力于提供图像传感器解决方案、模拟解决方案和显示解决方案。公司产品 已经广泛应用于消费电子和工业应用领域，包括汽车、智能手机、家居安防、医疗、工业/机器视觉、 新兴市场等领域。 ...

Core Viewpoint - Company has successfully entered NVIDIA's supply chain, enhancing its position in the smart driving automotive sector and potentially increasing overseas revenue [1][2][3] Group 1: Financial Performance - In 2024, company achieved operating revenue of 25.731 billion yuan, a year-on-year increase of 22.41%, and net profit attributable to shareholders of 3.323 billion yuan, up 498.11% [2] - For the first half of 2025, company reported operating revenue of 13.956 billion yuan, a 15.42% increase, and net profit of 2.028 billion yuan, growing by 48.34% [4] - The semiconductor design business contributed 11.572 billion yuan in revenue, accounting for 83.01% of total revenue, with a year-on-year growth of 11.08% [5] Group 2: Market Expansion - Company’s overseas revenue reached 20.961 billion yuan in 2024, a 14.35% increase, making up over 81% of total revenue [2] - Company is accelerating international development and has submitted an IPO application to the Hong Kong Stock Exchange [3] Group 3: Business Segments - Image sensor solutions are the core business, contributing 10.346 billion yuan in revenue, which is 74.21% of the main business revenue, with an increase of 11.10% year-on-year [6] - Revenue from IoT image sensors surged by 249.42% to 1.173 billion yuan, while automotive-related revenue reached 3.789 billion yuan, up 30.04% [6] Group 4: Research and Development - Company’s R&D expenses have been increasing annually, reaching 1.365 billion yuan in the first half of 2025, a growth of 8.7% [6]

Core Viewpoint - Company has made significant progress in market expansion by entering NVIDIA's supply chain, which is expected to boost its overseas revenue further [1][2][3] Group 1: Financial Performance - Company has achieved continuous high growth in net profit for eight consecutive quarters since Q3 2023, with a projected revenue of 25.731 billion yuan in 2024, representing a year-on-year increase of 22.41% [2] - The net profit attributable to shareholders is expected to reach 3.323 billion yuan in 2024, showing a remarkable year-on-year growth of 498.11% [2] - Overseas revenue is projected to be 20.961 billion yuan in 2024, with a year-on-year increase of 14.35%, accounting for over 81% of total revenue [2] Group 2: Business Development - Company has entered NVIDIA's supply chain to support the NVIDIA DRIVE AGXThor ecosystem, utilizing advanced imaging solutions for next-generation smart driving vehicles [1][2] - The company's sensor data can integrate directly with NVIDIA's Blackwell GPU for real-time processing and fusion of multi-camera images [2] - Company is also collaborating with toolchain suppliers like AdaCore and QNX to provide comprehensive support from hardware to software, reducing development barriers for clients [2] Group 3: Market Position and Strategy - Company is recognized as one of the top ten fabless semiconductor companies globally, with a significant portion of its revenue derived from international markets [2][4] - The company is pursuing an IPO in Hong Kong to accelerate its international development, having submitted its application to the Hong Kong Stock Exchange [3] - The company has rebranded from Weir Shares to reflect its comprehensive industry layout and actual situation after acquiring a leading image sensor design company [4] Group 4: Revenue Breakdown - In the first half of 2025, the company achieved a revenue of 13.956 billion yuan, marking a year-on-year increase of 15.42%, with a net profit of 2.028 billion yuan, up 48.34% [4] - The semiconductor design business contributed 11.572 billion yuan in revenue, accounting for 83.01% of total revenue, with a year-on-year growth of 11.08% [5] - The image sensor solutions business generated 10.346 billion yuan, representing 74.21% of the main business revenue, with an increase of 11.10% year-on-year [6] Group 5: Growth Drivers - The company's IoT image sensor revenue surged by 249.42% year-on-year, becoming a new growth driver [6] - Revenue from automotive-related image sensors reached 3.789 billion yuan, reflecting a year-on-year growth of 30.04% [6] - Revenue from the smartphone sector for image sensors was 3.92 billion yuan in the first half of the year [6] Group 6: R&D Investment - R&D expenses have been increasing annually, with amounts of 2.11 billion yuan, 2.496 billion yuan, 2.234 billion yuan, and 2.622 billion yuan from 2021 to 2024 [6] - In the first half of 2025, R&D expenses were 1.365 billion yuan, showing a year-on-year increase of 8.7% [6]

Core Viewpoint - The stock of Haowei Group has shown a significant increase in price and trading volume, indicating strong market interest and positive financial performance in the semiconductor industry [1][2]. Company Overview - Haowei Group, established on May 15, 2007, and listed on May 4, 2017, is located in Shanghai and specializes in semiconductor products, including discrete devices and power management ICs [1]. - The company's main revenue sources are: image sensor solutions (74.58%), semiconductor agency sales (15.31%), analog solutions (5.53%), display solutions (4.00%), semiconductor design technology services (0.35%), and others (0.24%) [1]. Financial Performance - For the first half of 2025, Haowei Group reported a revenue of 13.956 billion yuan, representing a year-on-year growth of 15.42%, and a net profit attributable to shareholders of 2.028 billion yuan, up 48.34% year-on-year [2]. - The company has distributed a total of 1.664 billion yuan in dividends since its A-share listing, with 771 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Haowei Group had 144,100 shareholders, a decrease of 6.08% from the previous period, with an average of 8,445 circulating shares per shareholder, an increase of 6.50% [2]. - Major shareholders include Hong Kong Central Clearing Limited, which holds 163 million shares, and various ETFs such as Huaxia SSE 50 ETF and Huatai-PineBridge CSI 300 ETF, with varying changes in their holdings [3]. Market Activity - On September 11, 2023, Haowei Group's stock price increased by 2.08%, reaching 133.94 yuan per share, with a trading volume of 1.298 billion yuan and a turnover rate of 0.82% [1]. - The stock has appreciated by 28.55% year-to-date, with notable increases over the past 5 days (4.12%), 20 days (9.04%), and 60 days (6.22%) [1].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company has shown significant revenue growth driven by the automotive sector and AIoT, with a revenue increase of 15.42% year-on-year in the first half of 2025 [8] - The semiconductor design revenue reached 115.72 billion yuan, accounting for 83.01% of total revenue, with a year-on-year growth of 11.08% [8] - The automotive segment, particularly image sensors, has become a major growth driver, with revenue from automotive products increasing by 30.04% year-on-year [8] - The company is expected to achieve revenues of 308.06 billion yuan, 376.89 billion yuan, and 441.79 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding net profits of 42.85 billion yuan, 56.58 billion yuan, and 73.75 billion yuan [8] Financial Performance Summary - In the first half of 2025, the company reported a revenue of 139.56 billion yuan and a net profit of 20.28 billion yuan, reflecting a year-on-year increase of 15.42% and 48.34% respectively [8] - The projected earnings per share (EPS) for 2025 is 3.55 yuan, with a price-to-earnings (PE) ratio of 40.3 [7] - The return on equity (ROE) is expected to improve to 15.5% by 2025, indicating enhanced profitability [7] Revenue and Profit Forecast - The company forecasts a revenue growth rate of 19.7% for 2025, followed by 22.3% in 2026 and 17.2% in 2027 [7] - The net profit growth rate is projected at 28.9% for 2025, 32.1% for 2026, and 30.3% for 2027 [7] - The company anticipates a steady increase in operating income, with a gross margin expected to reach 30.9% by 2025 [9]

Core Insights - The company, OmniVision Technologies, reported a record revenue of 13.956 billion yuan for the first half of 2025, representing a year-on-year growth of 15.42% [1] - The net profit attributable to shareholders reached 2.028 billion yuan, a significant increase of 48.34% compared to the previous year [1] - The company continues to focus on its core business, achieving a main business revenue of 13.940 billion yuan, up 15.49% year-on-year [1] Revenue Breakdown - The semiconductor design business, which is the main revenue driver, generated 11.572 billion yuan, accounting for 83.01% of the main business revenue, with a year-on-year growth of 11.08% [1] - The semiconductor agency sales business experienced a rapid growth of 41.73%, with revenue of 2.314 billion yuan, highlighting the synergy effects of the business [1] - The image sensor solutions, a key component of the semiconductor design business, achieved revenue of 10.346 billion yuan, representing 74.21% of the main business revenue and a year-on-year increase of 11.10% [2] Sector Performance - Revenue from the automotive sector for image sensors reached 3.789 billion yuan, growing by 30.04%, further solidifying market share [2] - Emerging markets and IoT image sensors generated 1.173 billion yuan, showing a substantial increase of 249.42%, becoming a new growth driver [2] - Revenue from the smartphone segment for image sensors was 3.920 billion yuan in the first half of 2025 [2] R&D Investment - The company invested 1.724 billion yuan in R&D for its semiconductor design sales business, which is 14.90% of the sales revenue, reflecting a year-on-year increase of 9.01% [2] Shareholder Returns - The company has completed a cash dividend distribution of 2.64 billion yuan for the 2024 fiscal year, with a payout of 2.20 yuan per 10 shares [3] - The board has been authorized to formulate a profit distribution plan for the mid-2025 period, continuing the "multiple dividends per year" mechanism [3]

Core Viewpoint - The company,豪威集团, reported strong financial performance for the first half of 2025, with significant growth in revenue and net profit, indicating a robust business momentum and operational efficiency [1][2]. Financial Performance - The company achieved a revenue of 13.956 billion yuan, a year-on-year increase of 15.42%, and a net profit of 2.028 billion yuan, up 48.34% [1]. - In Q2 2025, revenue reached 7.484 billion yuan, growing by 16.07%, and net profit was 1.162 billion yuan, an increase of 43.58% [1]. - The main business revenue for the first half was 13.940 billion yuan, with a growth of 15.49% [1]. Business Segments - The semiconductor design business generated 11.572 billion yuan, accounting for 83.01% of main business revenue, with an 11.08% year-on-year growth [1][2]. - The semiconductor agency sales business saw a remarkable growth of 41.73%, achieving revenue of 2.314 billion yuan [1]. Key Product Areas - The image sensor solutions segment generated 10.346 billion yuan, representing 74.21% of main business revenue, with an 11.10% increase, driven by demand in automotive intelligent driving and action camera sectors [2]. - The automotive electronics sector is a rapidly growing area, with increasing demand for vehicle-mounted image sensors due to advancements in smart and electric vehicles [2]. - Emerging markets for image sensors, particularly in outdoor sports and short video creation, showed explosive growth, with revenue from new markets and IoT image sensors reaching 1.173 billion yuan, a 249.42% increase [3]. R&D and Innovation - The company invested 1.724 billion yuan in R&D for semiconductor design sales, representing 14.90% of the segment's sales, with a 9.01% year-on-year increase [5]. - The company holds 4,761 authorized patents, with over 95% being invention patents, establishing a strong competitive edge [5]. Shareholder Returns - The company has completed a cash dividend distribution of 2.64 billion yuan for the 2024 fiscal year, with a plan for a mid-year profit distribution for 2025, emphasizing a commitment to shareholder value [6].

Core Viewpoint - OmniVision Technologies has successfully entered the CIS market through external acquisitions, but the industry is highly concentrated with one dominant player, leading to intense competition among peers. The future growth potential of OmniVision may be uncertain due to financial engineering practices observed during years of performance pressure, such as significant increases in capitalized R&D expenses and the lack of goodwill impairment despite substantial declines in the profitability of acquired companies [1][9][20]. Group 1: Company Overview - OmniVision, formerly known as Weir Shares, was established in 2007 and initially focused on semiconductor distribution and analog solutions. In 2019, the company acquired Huasen Technology and CIS design company Sipek, successfully entering the CIS market [2][4]. - The company's semiconductor product design business includes image sensor solutions, display solutions, and analog solutions. The image sensor solutions segment has been the core of the company's operations, with revenues of 136.75 billion, 155.36 billion, and 191.90 billion RMB from 2022 to 2024, accounting for 68.3%, 74%, and 74.7% of total revenue, respectively [2][3]. Group 2: Market Position and Competition - The global CIS market is highly concentrated, with the top five players accounting for 84.1% of the market share by revenue in 2024. OmniVision ranks third with approximately 2.7 billion USD (about 194 billion RMB) in revenue, representing a 13.7% market share [4][5]. - In the smartphone CIS segment, OmniVision ranks third globally with 1.4 billion USD (about 100 billion RMB) in revenue and a 10.5% market share, while the leading company, Sony, holds a 46.4% share with 6 billion USD in revenue [5][6]. Group 3: Financial Performance - OmniVision's revenue for the reporting period was 200.4 billion, 209.84 billion, and 257.07 billion RMB, with net profits of 9.51 billion, 5.44 billion, and 32.78 billion RMB, respectively. The company experienced negative revenue growth in 2022 and 2023, with declines of 16.78% and 4.64% [9][10]. - The company's inventory surged to 12.3 billion RMB in 2022, and its inventory turnover significantly declined during 2022 and 2023 [11][13]. Group 4: Financial Engineering Concerns - During periods of financial pressure, OmniVision increased its capitalized R&D expenses significantly, reaching 700 million RMB in 2022, compared to less than 400 million RMB in 2020 [14][16]. - Despite a dramatic drop in profitability for its subsidiary Beijing OmniVision, which saw net profits plummet from over 3 billion RMB in 2021 to 749 million RMB in 2022, the company did not record any goodwill impairment [20][21].