日前，中国领先的碳化硅(SiC)功率器件和芯片方案商——上海瞻芯电子科技股份有限公司(简称"瞻芯电 子")宣布完成全部C轮融资，融资总金额超过10亿元人民币，近日完成工商变更手续。 北京市绿色能源和低碳产业基金认为，碳化硅功率器件作为基础的新一代能源电子器件，在新能源汽 车、电网、光伏、储能等诸多领域应用，未来发展潜力巨大。瞻芯电子团队长期专注SiC芯片领域，具 备深厚的技术积累，在前瞻产品布局、量产工艺迭代、重点行业客户验证等方面处于行业领先地位。此 次投资是基金在完善区域绿色能源产业链生态方面的重点布局，基金看好公司在碳化硅领域的领先优势 和长期发展潜力，并将充分发挥自身优势，为公司的技术创新和商业化应用带来战略协同资源。 海望资本则表示，碳化硅是目前半导体领域最炙手可热的宽禁带半导体材料之一，被誉为"第三代半导 体"的核心代表。在目前国内优秀厂商不断研发再创新的努力下，我国在该环节正逐渐实现对国外头部 厂商的赶超和突围。 除了在新能源汽车、储能等诸多领域应用，近期有中国台湾媒体报道，英伟达正计划在新一代GPU芯片 的先进封装环节中采用12英寸碳化硅(SiC)衬底，旨在解决AI芯片愈发突出的散热难题并提升 ...

新华财经上海9月12日电（谈瑞、周子涵）本周A股市场，新华出海TMT指数成份股香农芯创（300475）股价走势极为强势，截至9月12日 收盘，其股价周内涨幅高达71.74%，收盘价报73.83元，总市值飙升至342.40亿元，创下历史新高。如此强劲的股价表现，背后是存储行 业景气度持续向上，也从侧面印证了中国电子元器件产业稳步发展的历史进程。 香农芯创聚焦高端存储领域，电子元器件产品分销目前为公司的主要收入来源。公司具备数据存储器、控制芯片、模组等电子元器件产 品提供能力，产品广泛应用于云计算存储（数据中心服务器）、手机等领域。 从业绩数据来看，香农芯创2025年半年度营业收入达到171.23亿元，同比大幅增长119.35%；归属于上市公司股东的净利润为1.58亿元， 同比增长0.95%。 | 指数简称 | 指数点位 | 本周涨跌幅 | 涨跌平 | 指数上行 | 日均指数 | 最近１年 | | --- | --- | --- | --- | --- | --- | --- | | | | | 天数比 | 主要贡献行业 | 换手率 | 收益 | | 新华制造出海 50 | 2981.49 | 1.40% | 2 ...

Group 1 - Company plans to issue up to 19.33 billion yuan in convertible bonds, with a maximum of 19.33 million bonds at a face value of 100 yuan each, to be used for R&D and industrialization in smart power management chips, automotive chips, and industrial sensor and control chips [1] - The net proceeds from the bond issuance will be allocated as follows: 4.59 billion yuan for smart power management chip R&D, 8.43 billion yuan for automotive chip R&D, and 6.31 billion yuan for industrial application chips [1] - Company reported revenue growth from 13.01 billion yuan in 2022 to 25.67 billion yuan in the first half of 2025, with net profit increasing from 2.46 billion yuan to 3.07 billion yuan during the same period [1] Group 2 - The automotive chip industry in China faces low domestic production rates, primarily due to high entry barriers and the need for long-term technological accumulation [2] - The rise of electric vehicles and smart driving applications is expected to drive growth in the automotive chip market, creating new opportunities [2] - The automotive chip R&D and industrialization project by the company is a key focus, with an investment of over 8 billion yuan and a construction period of three years [2] Group 3 - The project aims to develop a complete ecosystem of automotive chips, covering power supply, charging management, transmission, perception, decision-making, and execution [3] - The company has a strong foundation in the automotive chip sector, with 756 R&D personnel, accounting for 68.35% of total employees, and over 150 team members dedicated to automotive chip development [3] - The core team in the automotive field has an average of over 10 years of R&D experience [3]

Investment Rating - The report maintains a "Strong Buy" rating for the company, indicating an expectation to outperform the benchmark index by over 20% in the next six months [4][22]. Core Insights - The company reported significant improvement in profitability for Q2 2025, with a revenue of 92.17 billion yuan, representing a year-over-year increase of 67.48% and a quarter-over-quarter increase of 16.59%. The net profit for the same quarter was 1.41 billion yuan, showing a year-over-year decrease of 0.8% but a substantial quarter-over-quarter increase of 743.49% [1][7]. - The report highlights that the company is benefiting from rising storage prices and a favorable product mix, which has led to improved gross and net profit margins in Q2 2025 [7]. - The company is well-positioned to capitalize on the expected continued rise in storage prices in Q3 2025, with projections indicating a potential increase of 10% to 20% in DRAM prices due to supply constraints and seasonal demand [7]. Financial Summary - For the first half of 2025, the company achieved a total revenue of 171.23 billion yuan, a year-over-year increase of 119.35%. The net profit attributable to shareholders was 1.58 billion yuan, reflecting a year-over-year increase of 0.95% [1][7]. - The financial forecast for the company shows a projected revenue growth from 24.27 billion yuan in 2024 to 47.04 billion yuan by 2027, with corresponding net profits expected to rise from 264 million yuan to 1.05 billion yuan over the same period [3][8]. - The report provides a target price of 61.24 yuan per share, based on a 35x price-to-earnings ratio for 2026, indicating significant upside potential from the current price of 43.51 yuan [4][7].

Core Viewpoint - Beijing Jichuang Beifang Technology Co., Ltd. (referred to as "Jichuang Beifang") is preparing for its initial public offering (IPO) on the Sci-Tech Innovation Board, having previously withdrawn its application in March 2023 after being accepted in June 2022 [1] Company Overview - Jichuang Beifang is an internationally leading display chip design company established in 2008, focusing on the research, design, and sales of display chips, providing comprehensive solutions for various display panels and screens [1] - The company has developed a rich product portfolio, including panel display driver chips, power management chips, LED display driver chips, and control chips, while also actively exploring advanced display technologies such as small-pitch LED displays and silicon-based OLED displays [1] Market Position - Jichuang Beifang ranks first among global or mainland Chinese manufacturers in several segments of the display chip market, including: - First in market share for smartphone LCD display driver chips and LCD TDDI chips in mainland China [2] - First in market share for large-size display DDICs among mainland manufacturers [2] - First in market share for power management chips in the mainland China display panel market [2] - First in global market share for LED display driver chips from 2019 to 2023 [2] Research and Development Team - The company has built a strong R&D team with extensive technical expertise and industry experience, comprising over 64% of its 1,086 employees as of March 31, 2025, with 95% holding at least a bachelor's degree and over 52% holding a master's degree or higher [2] Supplier and Customer Relationships - Jichuang Beifang has established stable partnerships with major wafer manufacturers and testing service providers, ensuring consistent product quality and output [3] - The company has a robust customer base, including well-known panel and LED screen manufacturers such as BOE, Huaxing Optoelectronics, and LG Group, and its products are widely used by leading brands like TCL, LG, Samsung, OPPO, vivo, and Xiaomi [3] Shareholding Structure - As of July 31, 2025, the controlling shareholder of Jichuang Beifang is Zhang Jinfang, who holds a total equity stake of 39.97% through direct and indirect holdings [3]

Core Viewpoint - Beijing Jichuang Beifang Technology Co., Ltd., a leading manufacturer of display driver chips, has officially initiated the listing counseling process for its initial public offering (IPO) on the Sci-Tech Innovation Board, with CITIC Securities as the counseling institution [1]. Group 1: Company Overview - Jichuang Beifang was established in 2008, with a registered capital of 431 million yuan. The legal representative is Zhang Jinfang. Investors include Xiaomi Yangtze River Industry Fund, Huawei Habo Technology, TCL Venture Capital, and Vivo [2]. - In December 2021, Jichuang Beifang secured over 6.5 billion yuan in Series E financing, leading to a valuation exceeding 30 billion yuan [2]. - The company specializes in the research, design, and sales of display chips, including panel display driver chips, LED display driver chips, power management chips, and control chips, covering mainstream display technologies such as LCD, LED, and OLED [3]. Group 2: Market Position and Products - According to TrendForce, Jichuang Beifang holds over 40% market share, ranking first in the LED display driver chip market for 2024. If successful in its IPO, it is expected to become the first stock on the Sci-Tech Innovation Board for all categories of display chips [3]. - The company has served major panel manufacturers such as BOE, TCL Huaxing, and Huike, as well as LED display manufacturers like Leyard, Zhouming Technology, and Absen. Its products are widely used by terminal brands including TCL, LG, Samsung, OPPO, Vivo, and Xiaomi [3]. Group 3: Future Developments - Jichuang Beifang is actively advancing the research and development of automotive display chips and SoC chips, while also expanding into MLED display and silicon-based OLED technologies to broaden its business scope and product line [3]. - In May, the company achieved a breakthrough in the automotive display chip sector with the mass production of the first domestically developed automotive-grade integrated local dimming bridge chip, ICNM7810B, for consumer-grade Mini LED display products [3].

Core Viewpoint - Jichuang Beifang is preparing for an initial public offering (IPO) on the Sci-Tech Innovation Board, having previously withdrawn its application in March 2023 due to regulatory concerns [2][5]. Company Overview - Jichuang Beifang is a leading international display chip design company focused on the research, design, and sales of display chips, providing solutions for various display technologies including LCD, LED, and OLED [2][4]. - The company has a diverse product range including panel display driver chips, power management chips, LED display driver chips, and control chips, which are widely used in smartphones, TVs, laptops, tablets, monitors, and various indoor and outdoor LED displays [2][4]. Market Position - According to Omdia's 2021 statistics, Jichuang Beifang ranks first among mainland Chinese manufacturers in the market share of smartphone LCD display driver chips and TDDI chips, and second in the market share of large-size LCD panel display driver chips [3]. - In the power management chip sector, it holds the top position among global manufacturers in mainland China, while in the LED display driver chip market, it has consistently ranked first globally from 2019 to 2021 [3]. Financial Performance - From 2019 to 2021, Jichuang Beifang's revenue increased from 144.74 million to 567.44 million, with net profits turning from a loss of 15.38 million in 2019 to a profit of 93.20 million in 2021 [3][4]. - The revenue composition for 2021 shows that panel display driver chips accounted for 51.41%, power management chips 13.39%, and LED display driver chips 29.68% of total revenue [4]. R&D and Innovation - The company invested 19.98%, 15.26%, and 15.73% of its revenue in R&D from 2019 to 2021, holding a total of 399 overseas patents and 189 domestic patents as of December 31, 2021 [4]. - Jichuang Beifang has developed various advanced display technologies, including the first domestically produced automotive-grade bridge chip with local dimming functionality, which supports FHD resolution and 144Hz refresh rate [8]. Client and Supplier Relationships - The company has established stable partnerships with major wafer manufacturers and testing companies, including World Advanced, Jinghe Integrated, and SMIC [9]. - Its major clients include well-known panel manufacturers and LED screen manufacturers such as BOE, Huaxing Optoelectronics, and international brands like TCL, LG, Samsung, OPPO, vivo, and Xiaomi [9].

Core Viewpoint - Beijing Jichuang Beifang Technology Co., Ltd. has submitted its initial public offering (IPO) application for listing on the Sci-Tech Innovation Board, with the filing date recorded as August 5, 2025, and the advisory institution being CITIC Securities [1][2]. Group 1: Company Background - Beijing Jichuang Beifang was established in 2008 and focuses on the research, design, and sales of display chips, providing solutions for various display panels and screens [4]. - The company's main products include panel display driver chips, power management chips, LED display driver chips, control chips, and others [4]. - Major clients include BOE Technology Group, Huaxing Optoelectronics, HKC, Leyard, Absen, and LG Group [5]. Group 2: Financial Performance - The company's revenue for the years 2019, 2020, and 2021 was 144.74 million, 237.98 million, and 567.44 million yuan, respectively [4]. - The net profit attributable to the parent company for the same years was -15.38 million, 5.33 million, and 93.20 million yuan, showing a significant recovery in profitability [4]. - The company's operating cash flow for 2021 was 637.32 million yuan, indicating a strong cash generation capability [5]. Group 3: Previous IPO Attempt - In June 2022, the company had previously applied for an IPO on the Sci-Tech Innovation Board but withdrew its application in March 2023, leading to the termination of its review by the Shanghai Stock Exchange [4][6]. - The previous IPO fundraising plan included projects such as the development and industrialization of display touch integrated chips and OLED display driver chips, with a total intended fundraising amount of 6.01 billion yuan [6][7]. Group 4: Advisory and Support Institutions - The advisory agreement between CITIC Securities and Jichuang Beifang was signed on July 31, 2025, with additional support from Beijing Guofeng Law Firm and Lixin Certified Public Accountants [2][3].

Core Insights - The China Securities Regulatory Commission (CSRC) disclosed the counseling report for Beijing Jichuang Beifang Technology Co., Ltd. (referred to as Jichuang Beifang) regarding its initial public offering (IPO) and listing on the Sci-Tech Innovation Board [1] - Jichuang Beifang is primarily focused on the research, design, and sales of display chips, providing comprehensive solutions for various display panels and screens [1] Company Overview - As of the report date, the controlling shareholder of Jichuang Beifang is Zhang Jinfang, who holds a total equity stake of 39.97% through direct and indirect holdings as well as concerted actions [1] - The company has developed a rich product portfolio in display chips, including panel display driver chips, power management chips, LED display driver chips, and control chips, covering mainstream display technologies such as LCD, LED, OLED, and AR/VR [1] Market Applications - Jichuang Beifang's products are widely used in smartphones, televisions, laptops, tablets, monitors, wearable devices, and various indoor and outdoor LED displays [1] - The company is also expanding into advanced display technology fields such as small-pitch LED displays and silicon-based OLED displays, while conducting research and development on SoC chips and automotive display chips to continuously expand its product line [1]

Core Viewpoint - Beijing Jichuang Beifang Technology Co., Ltd. (referred to as "Jichuang Beifang") is attempting to relaunch its IPO on the Sci-Tech Innovation Board after a previous failure, with the support of CITIC Securities as its counseling institution [1][2] Group 1: Company Overview - Jichuang Beifang was established in 2008 and has a registered capital of 431 million yuan [1] - The company focuses on the research, design, and sales of display chips, providing comprehensive solutions for various display panels and screens [1] - The major product lines include panel display driver chips, power management chips, LED display driver chips, and control chips, covering mainstream display technologies such as LCD, LED, OLED, and AR/VR [1] Group 2: Shareholding Structure - As of the report date, the controlling shareholder of Jichuang Beifang is Zhang Jinfang, who holds a total equity stake of 39.97% through direct and indirect holdings [1] Group 3: Technological Advancements - Jichuang Beifang is also expanding into advanced display technology fields such as small-pitch LED displays and silicon-based OLED displays [2] - The company is developing SoC chips and automotive display chips to continuously expand its product line [2]