Group 1: Zhenlei Technology - Zhenlei Technology achieved a revenue of 205 million yuan in the first half of 2025, representing a year-on-year growth of 73.64% [1] - The net profit for the same period was 62.32 million yuan, with a significant year-on-year increase of 1006.99% [1] - The company’s products include power management chips, RF transceiver chips, and digital beamforming chips, which are widely used in special industries and satellite communication [1] - Zhenlei Technology's digital beamforming chips have advantages such as low power consumption and high integration, and small batch deliveries have already been realized [1] - The company is optimistic about the application trend of non-space-grade components in commercial aerospace and plans to provide low-cost radiation-resistant power supplies and single particle protection solutions [1] - A tiered pricing system is adopted, linking price to quantity, with a positive outlook for the next three years in special and satellite communication fields [1] Group 2: Weixing New Materials - Weixing New Materials emphasizes avoiding ineffective price competition while enhancing quality, value, and service [2] - The waterproof business primarily focuses on indoor home decoration, aligning with market demand [2] - In the first half of 2025, product prices decreased year-on-year but showed a gradual recovery compared to the previous period [2] - The retail business has seen an increase in the proportion of second-hand and old house renovations [2] - The company has not adjusted its annual targets, aiming to motivate employees to strive for better performance [2] - The waterproof business is experiencing steady growth, while the water purification business model is still being adjusted and optimized [2] - Weixing New Materials holds a cautious attitude towards demand in the second half of the year, as retail business is significantly influenced by economic conditions [2] - The company employs a cost-plus pricing strategy, focusing on product and service enhancement in retail, while engineering business adapts to market conditions [2] - The semi-annual dividend considers external environment, development plans, profit levels, and investor return needs [2]

调研纪要：臻镭科技2025年上半年实现营业收入2.05亿元，同比增长73.64%，净利润6231.97万元，同 比增长1006.99%。公司产品涵盖电源管理芯片、射频收发芯片、数字波束成形器芯片等，广泛应用于 特种行业和卫星通信领域。公司数字波束成形器芯片具有低功耗、高集成度等优势，已实现小批量供 货。公司将继续围绕不同频率、带宽、波束规模、功耗进行研发，预计今年研发费用投入同比增幅不及 去年。公司看好商业航天中非宇航级别元器件的应用趋势，提供低成本抗辐照电源和单粒子保护方案。 公司采用阶梯报价体系，价格与数量挂钩，未来3年在特种领域和卫星通信领域保持乐观预期。 2）金橙子 （高毅资产参与公司特定对象调研&电话会议） 调研纪要：公司收购萨米特主要考虑双方同属于光学控制领域，在产品体系、客户资源、技术开发、供 应链等方面均有显著的协同效应。萨米特主要从事精密光电控制产品研发、生产和销售，主要产品包括 高精度快速反射镜、高精密振镜等，拥有关键技术及多项专利。萨米特快反镜与公司振镜产品在技术原 理上有相近性，收购后可提升高端精密振镜领域的竞争能力。本次收购设置业绩补偿、减值补偿双承 诺，具体协议待审计评估后签署。预 ...