东吴证券研报指出，紫光国微2025年上半年归母净利润6.92亿元，同比去年-6.18%。特种集成电路在宇 航用FPGA、存储器等高端产品领域实现批量交付，技术壁垒巩固市场地位；智能安全芯片虽在eSIM、 E450R银行卡芯片等新品推广中取得突破，但传统产品价格承压。2025年上半年，紫光国微核心竞争力 持续强化：特种集成电路领域完成新一代高性能FPGA、宇航用系统级芯片等关键产品迭代，形成完整 宇航解决方案；智能安全芯片实现eSIM产品批量供货头部手机厂商，全球首款开放式架构安全芯片 E450R完成银行卡试点首发；石英晶体器件推出SMD2016/2520型高基频差分振荡器，技术指标达行业 领先水平。公司通过技术升级与产品结构调整，在特种芯片、安全芯片等战略领域巩固领先地位，同时 通过资本运作增强发展动能。考虑到公司在国内特种集成电路处于领先地位的事实，因此维持"买入"评 级。 ...

Core Insights - The global semiconductor industry is expected to experience a new growth wave in 2025 driven by surging AI computing demand, the rapid penetration of smart vehicles, and the rise of commercial aerospace [1] Financial Performance - In the first half of the year, the company reported revenue of 3.047 billion yuan, a year-on-year increase of 6.07% - The net profit attributable to shareholders was 692 million yuan, a year-on-year decrease of 6.18% - The net profit excluding non-recurring items was 653 million yuan, a year-on-year increase of 4.39% [1] Industry Position and R&D Investment - The company is a major player in the domestic integrated circuit market, focusing on special integrated circuits and smart security chips, while also expanding into quartz crystal frequency devices [2] - R&D investment reached 687 million yuan in the first half of the year, a year-on-year increase of 1.41% - The company obtained 26 invention patents and 6 utility model patents during the reporting period [2] Product Development and Market Expansion - The company has over 800 shelf products in the special integrated circuit business, covering various fields including AI+ visual perception, processors, and storage [3] - The analog chip segment accounts for approximately 40% to 50% of the special integrated circuit business, with a growth rate of about 18% to 20% [3] - The company has made significant breakthroughs in the emerging commercial aerospace market, launching a series of products for space applications [3] Smart Security Chip Business - The company maintains a strong position in the global SIM card chip market, with multiple eSIM solutions commercialized in various countries [4] - The automotive electronics segment has become a highlight, with millions of automotive security chips shipped to major Tier 1 suppliers and OEMs [4] - The launch of the new generation automotive security chip T97-415E supports domestic automotive brands in expanding overseas [4] Future Outlook - The company is well-positioned to benefit from the ongoing growth in the global semiconductor market and the rapid development of the domestic digital economy [4] - The comprehensive layout in special integrated circuits, smart security chips, and quartz crystal frequency devices, along with active expansion into emerging fields like commercial aerospace and automotive electronics, will provide sustained momentum for future growth [4]

8月18日，紫光国微发布2025年半年度报告。报告显示，公司上半年实现营业收入30.47亿元，同比增长 6.07%；归母净利润6.92亿元，同比下降6.18%。公司三大主营业务板块均取得积极进展，在特种集成电 路、智能安全芯片和石英晶体频率器件领域持续深耕。 在特种集成电路领域，紫光国微展现出强劲的技术实力和市场竞争力。报告期内，公司优化研发组织架 构，显著缩短研制周期；自建封装线顺利投产，产品质量达到行业先进水平。FPGA和系统级芯片产品 继续保持行业领先地位，新一代高性能产品实现批量交货。在特种存储器方面，公司保持国内技术最先 进、系列最全的优势地位。新推出的交换机芯片批量交货，应用范围持续扩大。值得关注的是，公司在 宇航应用领域取得突破，新推出的宇航用FPGA、回读刷新芯片等产品获得核心用户批量应用。 智能安全芯片业务在产品技术和市场拓展方面不断取得新突破。公司持续保持在全球SIM卡芯片市场的 领先地位，eSIM产品导入多家头部手机厂商并实现批量发货。在金融IC卡领域，搭载全球首款开放式 软硬件架构安全芯片E450R的银行卡试点首发。更引人注目的是，公司在汽车电子领域取得显著进展， 汽车安全芯片解决方案 ...

人民财讯8月18日电，紫光国微（002049）8月18日晚间披露2025年半年报，公司上半年实现营业收入 30.47亿元，同比增长6.07%；归母净利润6.92亿元，同比下降6.18%；基本每股收益0.82元。报告期内， 公司在宇航应用领域新推出了宇航用FPGA、回读刷新芯片、存储器、总线接口等多项产品，具备完整 的宇航用系统解决方案，市场推广进展顺利，得到核心用户批量应用，为公司带来持续的营业收入。 ...