智通财经APP获悉，瑞银发表最新研报，基于其证据实验室对全球100多家分销商的库存与定价数据监 测指出，当前半导体行业库存与定价趋势整体向好，尤其是MCU库存的持续消化缓解了市场对供需失 衡的担忧。该行认为，尽管贸易紧张局势和关税风险可能抑制了进一步去库存的动力，但行业正逐步走 向供需平衡，继续看好德州仪器(TXN.US)、瑞萨电子(RNECY.US)和英飞凌(IFNNY.US)。 核心趋势：库存稳步调整，定价稳中有升 报告指出，7月全球半导体库存整体呈现稳定调整态势。除电容器和传感器库存环比分别增长6%外，其 余品类库存环比持平或下降2%。其中，MCU库存自2月以来持续消化，本月环比下降1%，虽较上月5% 的降幅有所放缓，但延续了去库存趋势。 被动元件：多层陶瓷电容器(MLCC)6月末库存环比增长2%，7月续增5%;电容器价格同比大涨36%，环 比上涨3%，库存同比下降12%。 传感器：价格同比上涨18%，环比上涨2%，主要由磁传感器推动;库存同比增长31%，环比上涨6%，近 几个月库存波动较大。 企业层面观察 从企业热力图分析，7月加权平均定价同比上涨3%(5月同比涨幅相同)。库存总体稳定，MCU库存消化 ...

Core Viewpoint - Samsung Electronics' Device Solutions (DS) department has set the maximum performance bonus for the first half of the year at 25% of the base salary due to underperformance in the high bandwidth memory (HBM) market and deteriorating conditions in the NAND flash market [1][2]. Summary by Sections Performance Bonuses - The Target Achievement Incentive (TAI) for Samsung Electronics is paid biannually, with a maximum of 100% of the monthly base salary, depending on departmental performance [1]. - The DS department will receive a TAI of 0-25%, with the memory division receiving 25%, system LSI 12.5%, semiconductor research center 12.5%, and foundry 0% [1]. - Executives in the DS department have decided to return their TAI to demonstrate a commitment to improving management performance [1]. Historical Performance - From 2015 to the first half of 2022, the DS department consistently received the maximum TAI of 100% but saw a decline starting in the second half of 2022 due to slowing performance [2]. - In the second half of 2023, the TAI reached a historical low, with memory at 12.5% and foundry and system LSI at 0%, but it gradually improved to 37.5-75% in the first half of 2023 [2]. - The second half of 2023 saw performance bonuses reach 200%, exceeding the maximum standard, with system LSI and foundry departments receiving 25% [2]. Other Departments - Samsung Electro-Mechanics will pay 100% bonuses to the components division and 75% to the packaging solutions division, reflecting strong sales in multilayer ceramic capacitors (MLCC) [3]. - Samsung Display will pay 100% bonuses to the small and medium-sized business units responsible for IT panels and 75% to the large business units producing TV panels [3]. - Samsung SDI's electronic materials division will receive a 25% bonus, while medium and small divisions will receive 0% [3].

Group 1 - The "Vibrant China Research Tour" focused on key enterprises in low-altitude economy, industrial robotics, artificial intelligence, and intelligent driving in Guangdong Province, showcasing the role of technological innovation in developing a modern industrial system [1] - Guangdong Province leads the nation with 15 out of 31 manufacturing categories at the top scale, fostering eight trillion-level industrial clusters including new-generation electronic information and green petrochemicals [1] - The province's investment in R&D, number of R&D personnel, high-tech enterprises, effective invention patents, and PCT international patent applications rank first in the country, indicating a strong emphasis on technological and industrial innovation [1] Group 2 - The Guangdong Provincial Development and Reform Commission announced plans to initiate R&D projects in humanoid robots, low-altitude economy, and commercial aerospace by 2025, aiming to enhance the quality and quantity of the new energy vehicle and intelligent connected vehicle industries [2] - The goal of "Recreating a New Guangdong" emphasizes continuous innovation and improvement in the province's industrial capabilities [2] Group 3 - Various innovative projects were highlighted during the tour, including smart agriculture initiatives at the Songshan Lake International Robotics Industrial Base [4] - Guangzhou Lifen Culture Technology Co., a multimedia technology service provider, showcased its capabilities in major events like the Beijing Olympics and Winter Olympics [5] - Xiaoma Zhixing Technology Co. demonstrated its autonomous driving taxi services in Guangzhou, reflecting advancements in intelligent transportation [7] - Industrial robots were tested at Guangzhou CNC Equipment Co., showcasing the province's focus on automation and robotics [9] - Yuan Sheng Intelligent Technology Co. presented its products at the Guangdong Intelligent Robot Research Institute, indicating the growth of the robotics sector [11] - The personal flying vehicle developed by Guangdong Aerospace Technology Research Institute aims to create a three-dimensional commuting network [16] - The E6A drone, designed for rapid assembly and versatile applications, was showcased in Zhongshan, highlighting advancements in UAV technology [22]

南方财经记者郑康喜 云浮报道 在人工智能加速崛起、关键核心元件和技术加速国产替代的当下，一家藏在广东云浮山区里的MLCC中 国独角兽企业，正向这个行业的全球前三展开冲锋。 "我们就是要打破高端MLCC被日韩几家企业垄断的局面，在完成国产替代的同时冲刺全球前三，成为 中国的'村田'。"6月29日，"活力中国调研行"广东主题采访团走进广东微容科技有限公司，面对南方财 经记者的提问，微容科技总裁陈伟荣如是说。 仲夏的雨后，云浮的山峦被云雾环绕，好似一幅清雅悠然的山水画。8年前，陈伟荣带领团队来这里扎 根，成立微容电子，一开始便明确规划了高容、车规、超微型等产品布局。 8年后的今天，南方财经记者见到陈伟荣时，他虽已头发花白，但话语间仍中气十足。采访环节，他拿 着话筒自豪地分享着微容科技在高端MLCC赛道的成就。 "从2017年开始，微容科技在山清水秀的云浮专注自主研发生产，今年已经第8年。以前国内想都不敢想 的车规类、消费电子类高端MLCC，都被我们逐一实现，我们成为国内头部新能源汽车和昇腾服务器供 应商。"陈伟荣说。 （图为微容科技产线。受访者供图） 将时间的指针拨回2017年。彼时，已经58岁的陈伟荣决定回到家乡 ...

Group 1 - The core viewpoint of the news highlights the significant stock performance of Tianli Holdings Group, which has seen a cumulative increase of 84% over the past month and 109.09% year-to-date, outperforming the Hang Seng Index by 21.26% [1] - As of June 27, the stock price of Tianli Holdings Group closed at HKD 0.58 per share, with a trading volume of 1.272 million shares and a turnover of HKD 618,800, reflecting a volatility of 30.43% [1] - Financial data indicates that for the year ending December 31, 2024, Tianli Holdings Group is projected to achieve total revenue of HKD 548 million, representing a year-on-year growth of 12.29%, while the net profit attributable to shareholders is expected to be a loss of HKD 153 million, showing a year-on-year increase of 30.96% [1] Group 2 - The company operates primarily in the production and sale of electronic products, focusing on multilayer ceramic capacitors (MLCC) [2] - Tianli Holdings Group is in the process of establishing several wholly-owned subsidiaries in Hong Kong and overseas to develop financial investment businesses and provide financial services, which may include direct investments in debt, equity, and other assets, asset management, and financial advisory services [2] Group 3 - The current average price-to-earnings (P/E) ratio for the industrial engineering sector is 14.34 times, with a median of 2.7 times, while Tianli Holdings Group's P/E ratio stands at -2.07 times, ranking 173rd in the industry [1] - Other companies in the same sector have the following P/E ratios: China Aerospace Wanyuan at 0.32 times, Yili Holdings at 0.43 times, Yidu (International Holdings) at 0.65 times, Tianjie Environment at 2.13 times, and Tongjing New Energy at 2.59 times [1]

瑞财经 刘治颖 5月30日，成都宏明电子股份有限公司（以下简称：宏明电子）创业板IPO获受理，保荐 机构为申万宏源证券承销保荐有限责任公司，保荐代表人为龙家立、黄学圣，会计师事务所为信永中和 会计师事务所（特殊普通合伙）。 招股书显示，宏明电子前身是国营第七一五厂，创建于1958年。公司主要从事以阻容元器件为主的新型 电子元器件的研发、生产和销售，致力于向客户提供高性能、高可靠性的电子元器件产品。同时，公司 还涉及精密 零组件业务，产品主要应用于平板电脑、笔记本电脑等消费电子领域和新能源电 池及汽车 电子结构件等领域。 电容器的基本结构是由两块导体极板和中间的电介质（绝缘体）组成，以静电的形式储存和释放电能。 根据介质的不同，电容器可分为陶瓷电容器、铝电解电容器、钽电解电容器、薄膜电容器等；其中，在 小型化的发展趋势下，陶瓷电容器因体积小、电压范围大、价格相对便宜等特点，在整个电容器领域中 占比达到50%左右。 陶瓷电容器可进一步分为单层陶瓷电容器（SLCC）、多层陶瓷电容器（MLCC）和引线式多层陶瓷电 容器。MLCC是由印好电极（内电极）的陶瓷介质膜片以错位的方式叠合起来，经过高温烧结一次性形 成陶瓷芯片 ...

Core Viewpoint - The number of aviation industrial parks in China is projected to reach 128 in 2024, an increase of 14 parks year-on-year, driven by strong national strategic support and favorable policies [1][12]. Industry Overview - Aviation industrial parks are designated areas focused on aviation-related manufacturing, research, maintenance, and operations, created to foster industry clustering and collaboration through government incentives [1]. Industry Development History - The development of China's aviation industrial parks has progressed through three stages: 1. Initial stage (2003-2008) with only 8 parks established 2. Steady growth phase (2009-2014) with the number increasing to 44 3. Rapid growth phase (2015-present) where the number of parks has surged, averaging 10 new parks annually [3]. Industry Chain - The upstream of the aviation industrial park industry chain includes raw materials, components, and basic equipment, while the midstream focuses on operations and services, and the downstream involves airlines and maintenance companies [5]. Current Industry Status - The aviation industry is experiencing a recovery with passenger transport expected to reach 730 million in 2024, a year-on-year increase of 18.1%, and air cargo volume increasing by 22.1% [12]. Policy Support - Recent policies, such as the "General Aviation Equipment Innovation Application Implementation Plan (2024-2030)", aim to enhance the supply capacity and innovation ability of general aviation equipment by 2027, providing a three-dimensional drive for aviation industrial parks [9][11]. Industry Development Trends 1. **Technological Upgrades**: The industry is focusing on innovation-driven high-quality development, with key areas including unmanned, electric, and intelligent technologies [21]. 2. **Industry Clustering**: Aviation industrial parks are becoming core carriers for industry chain integration, with significant regional differentiation and specialization [22]. 3. **International Cooperation**: There is an increasing trend of international collaboration, with domestic companies engaging in joint ventures and technology transfers to enhance global competitiveness [23].

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：本文 编译自 zdnet ，谢谢。 多层陶瓷电容器（MLCC）设计、工艺和制造技术、锌冶炼技术以及合成孔径雷达（SAR）有效载 荷制造和信号处理技术被新指定为"国家核心技术"。 产业通商资源部宣布，将于7日至27日对修订后的《国家核心技术指定等公告》进行行政公告。包 含上述内容。 产业通商资源部依据《防止产业技术泄漏及保护相关法律》，将对国家安全和国民经济具有重要意 义的技术指定为国家核心技术并进行管理。为了紧跟技术进步的步伐，我们定期推动新的国家核心 技术的指定、变更和发布。此次修改是从去年下半年以来，根据相关省市和行业的意见，经过各领 域专门委员会的审议，以及产业技术保护委员会的审议决议而制定的。 新指定的三项技术分别是▲超高电容密度21uF/mm3以上的MLCC设计、工艺及制造技术▲锌冶炼 工艺中采用的低温低压赤铁矿工艺技术▲分辨率1mm以下的SAR有效载荷制造及信号处理技术。 此外，现有的15项国家核心技术的范围和表述方式将根据技术环境和技术进步的变化进行调整， 以准确、符合实际的表达方式。 在半导体领域，"LTE/LTE_adv/5G基带调制解调器设计 ...

Core Viewpoint - Suzhou Yunzhu Electronic Technology Co., Ltd. plans to increase capital and introduce external investors, including local state-owned assets, into its subsidiary Chizhou Yunzhu Electronic Technology Co., Ltd. The total investment is expected to be no more than 150 million yuan, which will be used to accelerate the development of the MLCC business [1][4][18]. Group 1: Capital Increase Overview - Chizhou Yunzhu, a subsidiary of the company, is focusing on the research and production of high-end multilayer ceramic capacitors (MLCC) [3][18]. - The pre-investment valuation of Chizhou Yunzhu is set at 700 million yuan, with an investment price of 2.1861 yuan per 1 yuan of registered capital [4][10]. - The total capital increase amount will not exceed 150 million yuan, with the investment from Xuancheng Huiyuan Green Energy No. 2 Equity Investment Partnership (Limited Partnership) being 55 million yuan [1][3][4]. Group 2: Shareholding Structure and Governance - After the capital increase, the new investors will hold up to 17.65% of Chizhou Yunzhu's shares, while the company will maintain control over the subsidiary [1][4][18]. - The board of directors of Chizhou Yunzhu will consist of five members, with the existing shareholders appointing four and the new investor appointing one [15]. Group 3: Use of Funds - The funds raised from the capital increase will be allocated to the development of the MLCC business, including the purchase of production equipment and working capital [14][18]. - The investment is aimed at optimizing the capital structure of Chizhou Yunzhu and enhancing its cash flow [18].

Core Viewpoint - Samsung Electro-Mechanics has been approved to supply multilayer ceramic capacitors (MLCC) to BYD, indicating a strategic partnership in the electric vehicle supply chain [1] Group 1 - Samsung Electro-Mechanics is also supplying MLCC to Tesla, showcasing its role in the growing electric vehicle market [1]