机构持仓方面，截止2025年9月30日，联芸科技十大流通股东中，嘉实上证科创板芯片ETF（588200） 位居第二大流通股东，持股156.58万股，为新进股东。诺安积极回报混合A（001706）位居第五大流通 股东，持股85.45万股，为新进股东。泰康新锐成长混合A（014287）位居第六大流通股东，持股67.81 万股，为新进股东。诺安稳健回报混合A（000714）位居第八大流通股东，持股54.94万股，为新进股 东。招商丰盈积极配置混合A（009362）退出十大流通股东之列。 资料显示，联芸科技(杭州)股份有限公司位于浙江省杭州市滨江区西兴街道阡陌路459号C楼C1-604室， 成立日期2014年11月7日，上市日期2024年11月29日，公司主营业务涉及联芸科技是一家提供数据存储 主控芯片、AIoT信号处理及传输芯片的平台型芯片设计企业。主营业务收入构成为：数据存储主控芯 片产品85.68%，AIoT信号处理及传输芯片产品11.77%，其他2.55%。 截至1月30日，联芸科技股东户数2.04万，较上期减少1.83%；人均流通股14394股，较上期增加1.87%。 2025年1月-9月，联芸科技实现营业 ...

长江商报消息 ●长江商报记者 徐阳 受益存储行业高景气度及AI发展，联芸科技（688449.SH）经营业绩稳步增长。 2月2日晚间，联芸科技发布2025年度业绩快报公告，报告期内，公司实现营业总收入与归属于母公司所 有者的净利润（以下简称"归母净利润"）双双增长，归属于母公司所有者的扣除非经常性损益的净利润 （以下简称"扣非净利润"）实现大幅跃升，达到1.01亿元，同比激增130.29%。 联芸科技称，受下游需求增长影响，公司营收同比增长，同时由于高毛利产品收入占比增加，进一步带 动公司综合毛利率上升，使得扣非净利润大幅增加。 资料显示，联芸科技是一家提供数据存储主控芯片、AIoT信号处理及传输芯片的平台型芯片设计企 业。公司始终坚持核心技术自主研发和迭代创新，不断推出具有市场竞争力的大规模集成电路芯片及解 决方案。 在研发方面，联芸科技持续加大投入，2025年研发费用约5.06亿元，研发费用率约为38%，主要用于下 一代主控芯片迭代及研发团队建设。 2025年业绩继续稳增 据官网介绍，联芸科技于2014年11月在中国杭州滨江创建，公司专注于数据管理相关芯片的研究及产业 化。公司总部位于杭州，在上海、广州、深 ...

Core Viewpoint - Lianyun Technology (688449) reported a preliminary performance summary for 2025, indicating a dual increase in revenue and profit, driven by industry recovery and enhanced core competitiveness [1][4]. Financial Performance - Total operating revenue for 2025 reached 1.331 billion, a year-on-year increase of 13.42% [3][4]. - Operating profit and net profit attributable to the parent company both stood at 142.1 million, reflecting a year-on-year growth of 20.36% [3][4]. - The non-recurring net profit saw a significant increase of 130.29%, reaching 101.5 million, highlighting the resilience of core business profitability [3][4]. - Basic earnings per share were 0.31, a slight decrease of 3.13% compared to the previous year [3][4]. - The weighted average return on equity was 7.86%, down by 9.47 percentage points from the previous year [3][4]. - Total assets at year-end were 2.332 billion, with a year-on-year growth of 11.78%, and equity attributable to the parent company was 1.905 billion, up 11.40% [3][4]. Growth Drivers - The growth in performance was supported by three main factors: 1. Recovery in industry demand, particularly in storage and AI-related sectors, leading to increased shipments of PCIe and enterprise-grade SATA controller chips [5]. 2. Continuous investment in R&D, with annual R&D expenses around 506 million, maintaining a stable R&D expense ratio [5]. 3. Solid profitability in core business, with net profit attributable to the parent company around 196 million after excluding share-based payment expenses [5]. - Overall, Lianyun Technology achieved dual growth in revenue and profit for 2025, with a strong foundation for long-term development through R&D investment [5]. Company Overview - Founded in November 2014, Lianyun Technology is headquartered in Hangzhou and has branches in several cities, focusing on the research and industrialization of data management-related chips [7]. - The company specializes in data management, general IP, and SOC chip development, being one of the few globally to master core technologies in data storage management chips [7]. - Lianyun Technology operates on a Fabless model, emphasizing chip design and sales, and holds approximately 25% market share in the global independent third-party SSD controller chip market [7].

Financial Performance Summary - In 2025, the company achieved total operating revenue of 1,331.34 million RMB, representing a year-on-year increase of 13.42% [3] - The net profit attributable to the parent company was 142.10 million RMB, up 20.36% year-on-year [3] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 101.49 million RMB, showing a significant increase of 130.29% [3][5] - As of December 31, 2025, total assets reached 2,332.19 million RMB, an increase of 11.78% from the beginning of the year [3] - The equity attributable to the parent company was 1,904.77 million RMB, up 11.40% from the beginning of the year [3] Factors Influencing Performance - The company benefited from the recovery in the storage industry and the rapid development of the AI sector, leading to increased demand for storage products [4] - Significant growth in the shipment volume of PCIe 3.0, PCIe 4.0, and enterprise-level SATA controller chips contributed to a steady increase in overall gross margin [4] - The company focused on consolidating and expanding its core competitive advantages by enhancing R&D investment and talent acquisition, with R&D expenses amounting to approximately 505.96 million RMB, up from 425.18 million RMB in the previous year [4] - The company confirmed share-based payment expenses of approximately 53.58 million RMB, compared to 39.32 million RMB in the previous year, indicating a robust performance in core business profitability [4]

Group 1 - The company achieved total operating revenue of approximately 1.33 billion yuan in 2025, representing a year-on-year increase of 13.42% [1] - The net profit attributable to the parent company was approximately 142 million yuan, reflecting a year-on-year growth of 20.36% [1] - The net profit after deducting non-recurring items was approximately 101 million yuan, showing a significant year-on-year increase of 130.29% [1] Group 2 - The growth in performance was primarily driven by the recovery in the storage industry and the rapid development of the AI industry, leading to sustained demand for storage products [3] - The company saw a notable increase in the shipment volume of its PCIE3.0, PCIE4.0, and enterprise-grade SATA controller chip products, which contributed to a steady improvement in overall gross margin [3] - Research and development expenses for the company were approximately 506 million yuan, indicating an increase compared to the same period last year, while maintaining a stable R&D expense ratio [3] Group 3 - The company confirmed share-based payment expenses of approximately 53.58 million yuan for 2025 [3] - After excluding this factor, the net profit attributable to the parent company was approximately 196 million yuan, indicating robust profitability in core business operations [3] - The significant year-on-year growth of 130.29% in net profit after deducting non-recurring items was mainly due to increased operating revenue and a higher proportion of high-margin product shipments [3]

Company Announcements - Litong Electronics clarifies that its liquid cooling product development is still in the early discussion stage, and it does not have specific plans for product development or production [2] - Changfei Fiber announces that the global fiber optic cable market environment is normal, and new products related to data centers account for a small proportion of total demand [2] - Rundu Co., Ltd. has a Class 1 innovative drug, but the approval for its injection product remains uncertain [3] - Aorui De plans to invest approximately 145 million yuan in purchasing computing power equipment [3] Investment & Contracts - Jichuan Pharmaceutical's wholly-owned subsidiary has signed an exclusive commercialization cooperation agreement with Beijing Puqi Pharmaceutical Technology Co., Ltd. [4] Equity Changes - Hongxiang Co. plans to transfer 100% equity of Nantong Hanlan to Fujian Mingao for a total price of 120 million yuan, which will help resolve historical debt issues [5] Share Buybacks - Lexin Technology plans to repurchase shares with a total amount between 50 million and 100 million yuan for employee stock ownership or equity incentive [6] - XGIMI Technology also plans to repurchase shares with a total amount between 50 million and 100 million yuan for employee stock ownership or equity incentive [7] Business Performance - Chip导科技 reports a revenue of 394 million yuan for 2025, with a net profit of 106 million yuan, reflecting a 4.91% decrease year-on-year [8] - Sainz plans to engage in molybdenum processing and sales, aiming to recover rhenium [9] - Shenghe Resources announces the unilateral termination of its strategic cooperation with ETM, and it will take legal measures to protect its rights [10] - Lianyun Technology reports a net profit growth of 20.36% for 2025, driven by increased demand for storage products [10] - Shanghai Yizhong reports a staggering net profit growth of 819.42% for 2025, attributed to the inclusion of its core product in the national medical insurance directory [11] Other News - Beiyinmei's controlling shareholder's restructuring plan has been approved by the creditors' meeting, which may lead to changes in shareholder equity [12] - Changchun High-tech's subsidiary has received acceptance for a clinical trial application for a new drug [13][14] - Dingxin Communications' vice president has been warned and fined for suspected short-term trading of company stock [15]

2025年，公司以巩固和扩大核心竞争优势为目标，持续强化新产品的研发投入与人才储备。一方面加快 下一代主控芯片的迭代升级，另一方面将研发人才团队建设视作技术创新的核心支撑，扩充嵌入式主控 芯片研发团队。报告期内研发费用约为50,595.76万元，较上年同期的42,518.48万元实现增长。伴随公司 营收规模同步增长，研发费用率维持平稳，研发资源配置高效，为公司持续开展技术创新、推动产品升 级提供坚实支撑。 格隆汇2月2日丨联芸科技(688449.SH)公布2025年度业绩快报，2025年度公司实现营业总收入13.31亿 元，同比增长13.42%；实现归属于母公司所有者的净利润1.42亿元，同比增长20.36%；实现归属于母公 司所有者的扣除非经常性损益的净利润1.01亿元，同比增长130.29%。 受益于存储行业景气度回升，叠加AI产业快速发展，存储产品需求持续增加。2025年公司PCIE3.0、 PCIE4.0及企业级SATA主控芯片产品出货量明显增长，带动综合毛利率稳步提升；同时，公司依托自身 产品的技术优势与一站式解决方案能力，持续推进新客户开发及存储主控产品导入。在此基础上，公司 数据存储主控芯片的整 ...

Core Viewpoint - 联芸科技 shows a decline in stock price and significant trading activity, indicating potential volatility in the market [1] Group 1: Financial Performance - As of January 9, 2025, 联芸科技 reported a revenue of 921 million yuan, representing a year-on-year growth of 11.59% [2] - The net profit attributable to shareholders for the same period was 90.06 million yuan, reflecting a year-on-year increase of 23.05% [2] Group 2: Shareholder and Market Activity - On January 19, 2025, 联芸科技's stock price fell by 2.63%, with a trading volume of 575 million yuan [1] - The company had a financing balance of 638 million yuan, accounting for 4.05% of its market capitalization, which is above the 90th percentile of the past year [1] - The number of shareholders increased by 5.15% to 20,200, while the average number of circulating shares per person decreased by 4.90% to 14,550 shares [2] Group 3: Institutional Holdings - As of September 30, 2025, several new institutional investors entered the top ten shareholders, including 嘉实上证科创板芯片ETF and 诺安积极回报混合A [2] - 嘉实上证科创板芯片ETF holds 1.5658 million shares, making it the second-largest shareholder [2]

Group 1 - U.S. storage companies experienced a significant surge, with SanDisk rising over 20% and Western Digital and Seagate Technology increasing by more than 10% [1] - Analysts suggest that NVIDIA is exploring new technology for direct connection between GPUs and SSDs, which could impact the storage market [1] - GF Securities believes that the demand for SSDs will grow due to AI inference RAG vector databases, which require high throughput and low latency for large-scale vector data and indexing structures [1] Group 2 - Domestic developments include TOS launching Vector Bucket, which utilizes a self-developed Cloud-Native vector indexing library and a multi-tier local caching architecture, significantly lowering the barrier for enterprises to use vector data [1] - The transition of RAG vector database storage media from "memory participation in retrieval" to "full SSD storage architecture" is expected to drive sustained demand for high-bandwidth and large-capacity SSDs [1] - Company updates indicate that Lianyun Technology focuses on data storage control chips specifically for the SSD sector [2] - Haima Data has released the Vastbase G100 V3.0 product, integrating vector database capabilities for AI applications, providing various algorithms for approximate and nearest neighbor searches in large multidimensional data scenarios [2]

Group 1 - The core viewpoint of the news is that 联芸科技 (Lianyun Technology) is experiencing significant trading activity, with a notable increase in financing and stockholder numbers, indicating growing investor interest [1][2]. Group 2 - On December 30, Lianyun Technology's stock price fell by 1.09%, with a trading volume of 261 million yuan. The financing buy-in amount for the day was 30.17 million yuan, while the financing repayment was 29.17 million yuan, resulting in a net financing buy of 1.00 million yuan. The total financing and securities balance reached 575 million yuan [1]. - The financing balance of Lianyun Technology is 574 million yuan, accounting for 4.25% of its circulating market value, which is above the 90th percentile level over the past year, indicating a high level of financing activity [1]. - On the same day, Lianyun Technology had no shares repaid in securities lending, with 2,900 shares sold short, amounting to 133,700 yuan at the closing price. The securities lending balance was 30,440 yuan, also exceeding the 90th percentile level over the past year [1]. Group 3 - As of December 19, the number of shareholders for Lianyun Technology reached 17,500, an increase of 1.94% from the previous period. The average circulating shares per person decreased by 1.90% to 16,716 shares [2]. - For the period from January to September 2025, Lianyun Technology reported a revenue of 921 million yuan, representing a year-on-year growth of 11.59%. The net profit attributable to the parent company was 90.06 million yuan, reflecting a year-on-year increase of 23.05% [2]. - Among the top ten circulating shareholders as of September 30, 2025, several new institutional investors emerged, including 嘉实上证科创板芯片ETF (Jia Shi Shanghai Stock Exchange Sci-Tech Innovation Board Chip ETF) as the second-largest shareholder with 1.57 million shares, and others like 诺安积极回报混合A (Noan Active Return Mixed A) and 泰康新锐成长混合A (Taikang New Growth Mixed A) also entering the list [2].