证券日报网讯12月29日，星网宇达（002829）在互动平台回答投资者提问时表示，公司的惯导产品主要 是捷联式惯导。受益于市场需求牵引，惯性导航及其组合导航未来具有较大的增长空间。公司紧跟行业 发展趋势，持续加大研发投入，成功研发出光纤、MEMS等系列化惯性导航和组合导航产品。这些产品 不仅在公司的无人整机系统中得到成功应用，还广泛应用于铁路检测、智能交通、机器人、无人采煤 机、飞行滑板等领域和场景，为客户提供了多样化的导航定位解决方案。2025年上半年，公司凭借深厚 的技术积累和创新能力，成功研制出一款惯性测量单元、一款标定机器人以及一款船载光纤罗经。新一 代高性价比的战术级惯性测量单元，采用先进的阵列融合技术、全温标定及补偿技术，在确保同等精度 的前提下，有效降低了产品成本，具备显著的成本竞争优势。该产品广泛运用于车载导航、动中通、飞 行器等领域，为各类运动载体提供了精准可靠的惯性测量支持。此外，标定机器人通过集成高精度编码 器与电机，实现了±0.02mm的极高重复定位精度，确保了角度姿态采集的高准确性与高重复性，该机器 人可高效完成MEMS加速度计和陀螺仪的批量标定工作，为惯性器件的规模化生产与质量控制 ...

一句话趋势：科技与制造、医疗健康领域持续以案例密度和资金量级双优势主导融资市场。 过去一周，科技与制造领域以超20起案例、多笔5亿元级大额交易成融资核心：半导体设备企业新施诺完成超5亿元A+轮融资；通讯设备研发商昉擎科技斩 获超5亿元Pre-A轮融资；卫星通信企业星联芯通完成逾亿元B轮融资；智能特种机器人企业博清科技获数亿元B轮融资；二维半导体企业原集微完成近亿元 天使轮融资。 医疗健康领域稳健发力，大额交易与细分创新并行：新药研发服务平台康源博创完成2.5亿元B轮融资；恶性肿瘤创新药研发企业伯汇生物获近亿元A+轮融 资；AI驱动新药研发企业哲源科技完成亿级A+轮融资。此外，脑机接口企业阶梯医疗、眼病数字疗法企业集视科技、创新多肽药物研发商成都佩德生物等 细分场景企业均获资本加持，资金聚焦临床价值明确的创新领域。 消费服务领域无新增融资案例，整体延续"硬科技+医疗健康"双主线主导的市场格局。 02、哪些投资机构较为活跃 从机构投资活跃度来看，本周亦庄国投、国科投资较为活跃，各披露2笔投资，主要聚集在科技与制造领域与医疗健康领域。 | 刨投 | | 2025年12月15日-12月21日 国内一级市场活跃 | | ...

分红方面，芯动联科A股上市后累计派现2.27亿元。 12月3日，芯动联科盘中下跌2.01%，截至13:43，报59.13元/股，成交2.15亿元，换手率1.44%，总市值 237.55亿元。 机构持仓方面，截止2025年9月30日，芯动联科十大流通股东中，嘉实上证科创板芯片ETF（588200） 位居第六大流通股东，持股454.89万股，相比上期减少20.95万股。香港中央结算有限公司位居第九大流 通股东，持股295.38万股，为新进股东。南方中证500ETF（510500）位居第十大流通股东，持股292.47 万股，相比上期减少10.27万股。 资金流向方面，主力资金净流出2936.27万元，特大单买入684.34万元，占比3.18%，卖出1168.13万元， 占比5.43%；大单买入4861.77万元，占比22.59%，卖出7314.25万元，占比33.99%。 芯动联科今年以来股价涨18.43%，近5个交易日涨3.23%，近20日跌4.41%，近60日跌23.31%。 资料显示，安徽芯动联科微系统股份有限公司位于北京市海淀区知春路7号致真大厦A座19层1901号， 成立日期2012年7月30日，上市日期 ...

Group 1 - The core point of the news is that Xindong Lianke has experienced a continuous decline in stock price, dropping 0.63% to 61.87 CNY per share, with a total market value of 24.792 billion CNY and an accumulated decline of 9.74% over the past eight days [1] - Xindong Lianke specializes in the research, testing, and sales of high-performance silicon-based MEMS inertial sensors, with its main revenue sources being MEMS gyroscopes (87.41%), MEMS accelerometers (6.22%), inertial measurement units (5.76%), and other services [1] - The company was established on July 30, 2012, and went public on June 30, 2023, indicating a relatively recent entry into the public market [1] Group 2 - According to data, the Jianxin Fund holds a significant position in Xindong Lianke, with the Jianxin CSI 500 Index Enhanced A fund owning 570,500 shares, representing 0.93% of the fund's net value, and it is the tenth largest holding [2] - The Jianxin CSI 500 Index Enhanced A fund has incurred a floating loss of approximately 22.25 thousand CNY today and a total floating loss of 381.08 thousand CNY during the eight-day decline [2] - The Jianxin CSI 500 Index Enhanced A fund was established on January 27, 2014, and has a current scale of 3.908 billion CNY, with a year-to-date return of 25.82% and a one-year return of 26.03% [2]

Core Insights - Chip Motion Technology experienced a 2.06% decline in stock price on October 30, with a trading volume of 330 million yuan [1] - The company reported a net financing outflow of 9.63 million yuan on the same day, with a total financing and securities balance of 833 million yuan [1][2] - For the first nine months of 2025, the company achieved a revenue of 401 million yuan, representing a year-on-year growth of 47.73%, and a net profit of 239 million yuan, up 72.91% year-on-year [2] Financing and Securities - On October 30, Chip Motion Technology had a financing buy-in of 27.02 million yuan, with a current financing balance of 830 million yuan, accounting for 5.15% of the circulating market value [1] - The company’s financing balance is above the 90th percentile level over the past year, indicating a high level of financing activity [1] - The short-selling data shows a repayment of 2,122 shares and a short-selling amount of 51,700 yuan, with a short-selling balance of 338,870 yuan, also above the 90th percentile level [1] Shareholder and Dividend Information - As of September 30, the number of shareholders for Chip Motion Technology reached 19,700, an increase of 29.52% from the previous period [2] - The company has distributed a total of 227 million yuan in dividends since its A-share listing [3] - Among the top ten circulating shareholders, notable changes include a decrease in holdings by the Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF and the entry of Hong Kong Central Clearing Limited as a new shareholder [3]

Core Insights - ChipMotion Technology experienced a 2.77% decline in stock price on September 23, with a trading volume of 625 million yuan [1] - The company reported a net financing outflow of 15.13 million yuan on the same day, with a total financing and securities balance of 765 million yuan [1][2] - For the first half of 2025, ChipMotion Technology achieved a revenue of 253 million yuan, representing a year-on-year growth of 84.34%, and a net profit of 154 million yuan, up 173.37% year-on-year [2] Financing and Securities - On September 23, ChipMotion Technology had a financing buy-in of 61.81 million yuan, with a current financing balance of 764 million yuan, accounting for 4.01% of the circulating market value [1] - The company's financing balance is above the 90th percentile of the past year, indicating a high level of financing activity [1] - The short-selling data shows a repayment of 163 shares and a sale of 400 shares, with a short-selling balance of 1.27 million shares, which is below the 50th percentile of the past year [1] Company Overview - ChipMotion Technology, established on July 30, 2012, is located in Haidian District, Beijing, and specializes in the research, testing, and sales of high-performance silicon-based MEMS inertial sensors [1] - The company's main revenue sources include MEMS gyroscopes (87.41%), MEMS accelerometers (6.22%), inertial measurement units (5.76%), technical services (0.25%), pressure sensors (0.22%), and others (0.14%) [1] Shareholder Information - As of June 30, 2025, the number of shareholders for ChipMotion Technology reached 15,200, an increase of 7.95% from the previous period [2] - The average number of circulating shares per shareholder decreased by 6.49% to 16,353 shares [2] - The company has distributed a total of 227 million yuan in dividends since its A-share listing [3]

Group 1: Business Performance and Financials - The company's net cash flow from investment activities decreased by 138.05% in 2024 compared to the previous year, primarily due to receiving a large equity transfer payment in the prior period [3] - In Q1 2025, the company's operating revenue increased by 1.54% year-on-year, with net profit growing by 16.91% and non-recurring net profit surging by 66.22% [6] - The company's operating cash flow in 2024 decreased by 11.19%, while in Q1 2025, it increased by 86.21% year-on-year [12][24] Group 2: Market Strategy and Product Development - The company is focusing on the sensor and smart instrument sectors, emphasizing the importance of the robotics industry as a key application area for sensors [2][3] - The company has established a research institute for embodied intelligence to enhance its product offerings in the robotics sector [3] - The new regulations for electric vehicle batteries are expected to positively impact the company's business by increasing demand for its monitoring products [4] Group 3: Partnerships and Collaborations - The company has engaged with nearly 30 robotics manufacturers for potential collaborations on electronic skin products [12] - The company is actively exploring partnerships in the elderly care robotics sector, aligning with recent government policies [22] - The company is involved in the "Horizon Europe" project, indicating its commitment to international collaboration [12] Group 4: Challenges and Future Outlook - The company faces challenges due to increased market competition and rising R&D costs, which have impacted its financial performance [15][20] - Despite the challenges, the company remains optimistic about the growth potential in the sensor and IoT sectors, driven by digitalization trends [20] - The company plans to continue its strategy of "internal growth + external mergers and acquisitions" to strengthen its market position [2][3]

Summary of Junsheng Electronics Conference Call Company Overview - **Company**: Junsheng Electronics - **Industry**: Automotive Safety and Electronics Key Financial Metrics - **Q1 2025 Revenue**: 14.6 billion, a year-on-year increase of 10% [2][3] - **Net Profit**: 340 million, a year-on-year increase of 11% [2][3] - **Gross Margin**: 17.9%, an increase of 2.6 percentage points year-on-year [2][3] - **Automotive Safety Gross Margin**: Increased to 15.6%, up 1.9 percentage points [7] - **Automotive Electronics Gross Margin**: Increased to 21.2%, up 2.1 percentage points [7] - **New Orders**: 15.7 billion in Q1 2025, with a total of 84 billion in new orders for 2024, including a record high of 57.4 billion in automotive safety orders [2][8] Core Business Performance - **Automotive Safety Business**: - Junsheng Electronics is a leading player in the global automotive safety sector, showing significant improvement in operational capabilities and profitability [3] - The overseas market performance is better than the domestic market, particularly in automotive safety [3][5] Emerging Business Developments - **Robotics Business**: - The company is actively developing its robotics segment, showcasing components such as 6AD sensors and inertial measurement units [4][11] - Collaborations with potential robotics manufacturers are expected to open new growth avenues [4] Global Strategy and Market Position - **Global Layout**: - The company has effectively mitigated global tariff barriers through a local-for-local supply model [2][5][6] - Continuous cost improvement measures have stabilized overseas operations [5] - **Impact of Tariff Wars**: - Short-term impacts from tariff wars have significantly eased, with no effects noted in Q1 2025 [9][10] - The sustainability of tariff exemptions under the US-Mexico-Canada Agreement (USMCA) is a point of concern [9] Future Outlook - **Revenue Growth**: - The company expects to gradually realize revenue growth from its new orders over the next five years [8] - Projected non-GAAP profit for 2025 is around 1.6 billion, bolstered by the integration of Xiangshan, contributing approximately 6 billion in revenue [2][8][12] - **Market Valuation**: - Current market valuation corresponds to about 15 times the non-GAAP performance, indicating potential for growth [12] Additional Insights - **Cost Management**: - The local-for-local production model not only mitigates tariff impacts but also optimizes cross-regional R&D and production costs [10] - **Investment Recommendations**: - Investors are encouraged to consider Junsheng Electronics for its high growth potential and resilience in the current market environment [12]

Summary of Conference Call Records Industry or Company Involved - The records primarily discuss the **technology sector**, with a focus on **AI**, **robotics**, and **material science** innovations, particularly **PEEK materials** and their applications in robotics. Core Points and Arguments 1. **Market Sentiment and Trends** - The market has shown a strong upward sentiment despite fluctuations, with a notable increase in trading volume reaching **1.5 trillion** [2][9]. - The technology sector, particularly **AI** and **robotics**, remains a focal point for investors, indicating a potential for sustained growth [2][9]. 2. **Sector Performance** - **AI and Robotics**: These sectors are expected to remain active, with specific mentions of **DeepSeek** and its anticipated product launch [9][13]. - **Military and Agricultural Stocks**: These sectors experienced a surge but are noted for their uncertain sustainability [2][9]. - **Consumer Stocks**: There is a notable performance in consumer-related stocks, particularly in the **e-commerce** and **entertainment** sectors [9][17]. 3. **Investment Opportunities** - **PEEK Materials**: Highlighted as a revolutionary material in robotics, with a potential market value exceeding **100 billion** globally due to its applications in various industries, including automotive and drones [13]. - **振芯科技 (Zhenxin Technology)**: Positioned as a key player in the AI and military integration space, focusing on high-performance integrated circuits and intelligent applications [7]. - **敏芯股份 (Minxin Technology)**: Expected to benefit from the growing demand for integrated voice assistants in smart devices, with a projected market growth to **3 billion units** by **2028** [6]. 4. **Market Dynamics** - The market is experiencing a transition from speculative trading to value-based investing, with a shift in focus towards **high-quality stocks** in the technology sector [9][17]. - The **robotics sector** is highlighted for its potential breakthroughs, particularly with the mass production of **Tesla's Optimus robot**, which could significantly impact the supply chain [14]. Other Important but Possibly Overlooked Content 1. **High Purity PEEK Supply**: The company mentioned is one of the few global suppliers of high-purity PEEK, which has been certified by **Tesla**, indicating a strong market position [13]. 2. **AI in Military Applications**: The integration of AI in military technology is emphasized as a critical trend, with companies like **Palantir** setting benchmarks for growth in this area [7]. 3. **Market Volatility**: The records indicate a pattern of volatility in the market, with rapid shifts in investor sentiment and sector performance, suggesting a need for careful monitoring of market trends [2][9][17]. This summary encapsulates the key insights from the conference call records, focusing on the technology sector's dynamics, investment opportunities, and emerging trends.

Core Insights - Junsheng Electronics officially launched its latest products in the robotics field at the 2025 Auto Show in Shanghai, including various sensor kits and solutions for battery management, lightweight exoskeletons, and wireless charging [1] - The company aims to develop robotics as its "second curve," leveraging synergies from its core components to drive innovation in robotics technology [1] Group 1: Robotics Component Breakthroughs - Battery management systems (BMS) and sensors are critical upstream components for humanoid robots, with Junsheng achieving breakthroughs in these areas due to its experience in automotive electronics [2] - The "Xingchi" system developed by Junsheng integrates high-voltage platforms and advanced cooling technologies, improving charging efficiency by 40% and reducing energy loss risks by 70% [3][2] - The new wireless charging technology achieves over 90% efficiency, allowing robots to operate without cables and enhancing their endurance by 30% [3] Group 2: Technical Synergies and Market Position - Junsheng's entry into the robotics sector is facilitated by the high technical similarity between automotive electronics and robotics, allowing for a smooth transition of technology [6] - The company has established itself as a major supplier in the automotive sector, providing solutions across various domains, which can be directly applied to robotics [7] - The global humanoid robot market is projected to reach between $38 billion and $205 billion by 2035, indicating significant growth potential for Junsheng's robotics initiatives [8] Group 3: Strategic Partnerships and Future Plans - Junsheng has initiated a strategic partnership with Shanghai Zhiyuan New Technology Co., focusing on core technology development and customized solutions for robotics [9] - The company plans to develop its robotics business in five phases, including enhancing core component R&D and building a global industrial ecosystem [8] - Junsheng's recent financial performance, with projected revenues of 55.864 billion yuan in 2024, supports its ongoing investments in technology and innovation [9]