本期业绩变化的主要原因：(1)报告期内，公司营业收入自 2025 年第二季度始逐季创历史新高；主要原 因：一方面，部分品类延续去年旺盛的测试需求和部分存量客户终端需求好转；另一方面，新拓展客户 新产品陆续导入并实现量产测试；综上使得相关芯片的测试收入同比大幅增长(如高算力、存储、汽车 电子、工业控制、特种芯片等)。(2)报告期内，营业成本端由于公司持续布局的产能陆续释放，使折 旧、摊销、人工、电力、厂房费用等固定成本持续上升。另外，公司发行可转换公司债券仍存续，使得 财务费用较上年同期有所增加。 格隆汇1月30日丨利扬芯片(688135.SH)公布，经公司财务部门初步测算，预计2025年年度将出现亏损， 实现归属于母公司所有者的净利润为-1150万元至-850万元，与上年同期(法定披露数据)相比，将减少亏 损5311.87万元到5011.87万元。预计2025年年度实现归属于母公司所有者的扣除非经常性损益的净利润 为-1350万元至-950万元；与上年同期(法定披露数据)相比，将减少亏损5218.08万元到5618.08万元。 ...

本期业绩变化的主要原因：(1)报告期内，公司营业收入自 2025 年第二季度始逐季创历史新高；主要原 因：一方面，部分品类延续去年旺盛的测试需求和部分存量客户终端需求好转；另一方面，新拓展客户 新产品陆续导入并实现量产测试；综上使得相关芯片的测试收入同比大幅增长(如高算力、存储、汽车 电子、工业控制、特种芯片等)。(2)报告期内，营业成本端由于公司持续布局的产能陆续释放，使折 旧、摊销、人工、电力、厂房费用等固定成本持续上升。另外，公司发行可转换公司债券仍存续，使得 财务费用较上年同期有所增加。 格隆汇1月30日丨利扬芯片(688135.SH)公布，经公司财务部门初步测算，预计2025年年度将出现亏损， 实现归属于母公司所有者的净利润为-1150万元至-850万元，与上年同期(法定披露数据)相比，将减少亏 损5311.87万元到5011.87万元。预计2025年年度实现归属于母公司所有者的扣除非经常性损益的净利润 为-1350万元至-950万元；与上年同期(法定披露数据)相比，将减少亏损5218.08万元到5618.08万元。 ...

国芯科技公告称，预计2025年度营收53168.37万元，同比减少7.40%；归属于母公司所有者的净利润 为-23755.56万元，亏损增加5696.56万元；扣除非经常性损益后的净利润为-28128.68万元，亏损增加 5727.50万元。业绩变动主因是定制量产芯片业务受外部因素影响，交付推迟致收入下滑，且研发、管 理费用增加等。不过，信创和信息安全、汽车电子芯片和工业控制芯片业务收入同比增长。 ...

Core Viewpoint - The article provides an overview of the semiconductor manufacturing capacity distribution in mainland China, highlighting key players, their production capacities, and technological focuses in various regions [6]. Group 1: Capacity Distribution - The total semiconductor production capacity in mainland China is significant, with major contributions from companies like SMIC (19.8 billion), Hua Hong Semiconductor (15.4 billion), and Changxin Storage (11.0 billion) [6]. - The Yangtze River Delta region has a total capacity of 91.7 billion, accounting for 42.1% of the national total, with a focus on advanced processes (14nm and below) and power devices [6]. - The Pearl River Delta region has a total capacity of 23.3 billion, focusing on mature processes (28nm to 180nm) and automotive power devices [6]. Group 2: Key Players and Technologies - Key players in the semiconductor industry include Intel in Dalian (9.0 billion), Longsys in Wuhan (1.5 billion), and Yangtze Memory Technologies (12.0 billion) [6]. - The article mentions various technological focuses, such as NAND storage, power devices, and automotive electronics, indicating a diverse range of applications across different manufacturers [6]. - Emerging technologies like MRAM and SiC (Silicon Carbide) are also highlighted, showcasing the industry's shift towards advanced materials and processes [6].

Core Viewpoint - The Chinese Ministry of Commerce has initiated anti-dumping investigations against U.S. imported analog chips and anti-discrimination investigations related to U.S. measures in the integrated circuit sector, reflecting a push for fair competition in the semiconductor industry [1][2] Group 1: Market Reaction - Semiconductor stocks surged following the announcements, with companies like Shengbang Co. and Naxin Micro reaching their daily price limits, indicating strong market confidence in domestic alternatives and positive expectations for industry growth under supportive policies [1] - The anti-dumping investigation targets major U.S. firms including Texas Instruments, Analog Devices, Broadcom, and ON Semiconductor, highlighting a significant increase in U.S. analog chip imports by 37% from 2022 to 2024, while prices have dropped by 52%, indicating a "volume-price divergence" strategy [1] Group 2: Industry Dynamics - Texas Instruments has been aggressively lowering prices, with a 20%-30% price cut in May 2023, leading to a 10%-15% average price drop in domestic analog chips, which has pressured profit margins and increased losses for local manufacturers [2] - The global semiconductor market is projected to reach $346 billion in the first half of 2025, with an 18.9% year-on-year growth, and analog chips expected to grow by 4%, indicating a recovery phase for the industry [2] Group 3: Domestic Replacement Progress - Domestic companies are enhancing their capabilities through technological innovation, particularly in the mid-to-low-end market, where they are gaining traction against international giants [3] - Companies like Jinghua Micro have successfully developed products that meet international standards and have entered supply chains of major brands, indicating a shift from small orders to stable, large-scale contracts [3] Group 4: Market Potential and Challenges - The current domestic analog chip replacement rate is around 20%, with significant room for growth as demand in automotive and industrial sectors rebounds [4] - While short-term benefits arise from anti-dumping measures and industry recovery, long-term challenges remain due to high technical barriers in the high-end market, where major players like Texas Instruments and Analog Devices hold nearly 70% market share [4] Group 5: Future Developments - Jinghua Micro plans to launch several new products in the second half of the year, including smart control chips, which have successfully passed verification and are set for mass production [5] - The journey towards domestic analog chip replacement is expected to be a long-term endeavor, requiring sustained commitment from companies to alter the global competitive landscape [5]

Core Viewpoint - The SEMI-e Shenzhen International Semiconductor Exhibition and 2025 Integrated Circuit Industry Innovation Exhibition will take place from September 10-12, 2025, in Shenzhen, serving as a significant indicator of industry transformation in 2025 [1] Group 1: Event Overview - The exhibition is organized by CIOE China Optical Expo and the Integrated Circuit Innovation Alliance, aiming to enhance the scale and influence of the event [1] - The combined exhibition area will reach 300,000 square meters, featuring 5,000 exhibitors and attracting over 160,000 professional visitors [1] - The event will integrate the "Optoelectronics + Semiconductor" industries, creating more cross-industry collaboration opportunities [1] Group 2: Themes and Coverage - The exhibition will focus on three main themes: "IC Design and Application," "IC Manufacturing and Supply Chain," and "Compound Semiconductors," covering the entire industry chain from design to manufacturing [2] - It will showcase the latest technologies from industry leaders, including major companies like Ziguang Zhanrui, ZTE, and SMIC [3][4] Group 3: Industry Trends and Innovations - The exhibition will highlight key industry trends, such as the integration of "Optoelectronics + Semiconductors," and will present core products and technologies across the semiconductor value chain [5] - It will also address advancements in packaging technologies, domestic equipment capabilities, and the commercialization of third-generation semiconductor materials [7] Group 4: Professional Audience and Resources - The event will gather professionals from wafer foundries, packaging and testing, and semiconductor core equipment sectors, facilitating resource sharing across various industries [6] - A series of high-level forums will be held, featuring international analysts and industry experts discussing the most pressing topics of the year [11]