Summary of Key Points Core Viewpoint - The company, Xinxiang Microelectronics, has shown significant growth in revenue and net profit, indicating a positive trend in its financial performance since its recent IPO. Group 1: Financial Performance - For the first half of 2025, Xinxiang Microelectronics achieved operating revenue of 285 million yuan, representing a year-on-year growth of 23.48% [2] - The net profit attributable to shareholders reached 5.45 million yuan, marking a substantial year-on-year increase of 261.78% [2] Group 2: Shareholder Information - As of June 30, the number of shareholders for Xinxiang Microelectronics increased to 12,000, up by 22.93% from the previous period [2] - The average number of circulating shares per shareholder decreased to 26,872 shares, down by 17.72% from the previous period [2] Group 3: Business Operations - Xinxiang Microelectronics specializes in the research, design, and sales of display chips, aiming to provide comprehensive display chip system solutions [1] - The revenue composition of the company includes integrated display chips at 70.30%, separated display chips at 25.77%, liquid crystal display glass at 2.04%, and other businesses at 1.89% [1] Group 4: Market Activity - On September 23, the stock price of Xinxiang Microelectronics slightly decreased by 0.09%, with a trading volume of 466 million yuan [1] - The financing buy-in amount for the company on the same day was 48.23 million yuan, while the financing repayment was 31.06 million yuan, resulting in a net financing buy-in of 17.17 million yuan [1] - The total financing and securities lending balance reached 387 million yuan, accounting for 5.18% of the circulating market value, indicating a high level of financing activity [1]

Group 1 - The core viewpoint of the news is that Shanghai Xinxiang Microelectronics Co., Ltd. has experienced a slight decline in stock price, with a current trading price of 22.00 yuan per share and a total market capitalization of 10.11 billion yuan [1] - The company, established on March 29, 2005, specializes in the research, design, and sales of display chips, aiming to provide comprehensive display chip system solutions [1] - The revenue composition of the company's main business includes integrated display chips at 70.30%, separated display chips at 25.77%, liquid crystal display glass at 2.04%, and other businesses at 1.89% [1] Group 2 - From the perspective of fund holdings, one fund under Caitong Fund has a significant position in Xinxiang Microelectronics, with 41,700 shares held, accounting for 3.18% of the fund's net value, making it the fifth-largest holding [2] - The Caitong Advanced Manufacturing Select Mixed Fund A (019612) has a current scale of 18.63 million, with a year-to-date return of 31.91% and a one-year return of 43.24% [2] - The fund managers, Zhu Haidong and Gu Hongyuan, have varying tenures and performance records, with Zhu having a tenure of 6 years and Gu having 4 years, showcasing different best and worst fund returns during their management periods [2]

Group 1 - New Xiang Micro (688593) announced a capital increase of 100 million yuan to Beijing Electronic Digital Technology Co., Ltd. (North Electric Digital), which constitutes a related party transaction [1] - North Electric Digital, established in 2023 with a registered capital of 350 million yuan, focuses on AI technology innovation and has major products including intelligent computing power and AI cloud services [1] - North Electric Digital's significant project, the Beijing Digital Economy Computing Power Center, aims to provide 1000 PFLOPS of intelligent computing power upon completion [1] Group 2 - New Xiang Micro specializes in the research, design, and sales of display chip products, with major clients including BOE, Tianma, and Visionox [2] - The company's gross margin has declined from 67.71% in 2021 to 14.94% in 2024, with a reported revenue of 285 million yuan and a net profit of 5.45 million yuan for the first half of 2025 [2] - New Xiang Micro attempted to acquire Aisheng Technology, a company focused on human-computer interaction chips, but the acquisition was terminated in August due to disagreements among parties [2]

Group 1 - New Xiang Micro (688593) announced that its wholly-owned subsidiary, New Xiang Technology, plans to invest 100 million RMB in Beijing Electronic Digital Technology Co., Ltd. (Beijing Digital) [1] - Beijing Digital is a subsidiary of Beijing Electronic, which holds 12.30% of New Xiang Micro's shares, and the investment constitutes a related party transaction [1] - Beijing Digital, established in 2023 with a registered capital of 350 million RMB, focuses on AI technology and data-driven innovation, with major products including intelligent computing power and AI cloud services [1] Group 2 - In the first half of 2025, Beijing Digital reported revenue of 158 million RMB and a net loss of 101 million RMB, compared to revenue of only 33.22 million RMB in the previous year [2] - As of June 30, 2025, Beijing Digital's total assets were 1.416 billion RMB, with net assets of 71.4 million RMB [2] Group 3 - New Xiang Micro has focused on the research, design, and sales of display chip products, with major clients including BOE and Visionox [3] - The company's gross margin has declined from 67.71% in 2021 to 14.94% in 2024, indicating pressure on traditional business [3] - In the first half of 2025, New Xiang Micro reported revenue of 285 million RMB and a net profit of 5.4473 million RMB, with a gross margin of 14.64% [3] - The company attempted to acquire Aisheng, a chip and solution provider in the human-computer interaction field, but the acquisition was unsuccessful [3] - New Xiang Micro aims to strategically invest in high-quality AI companies to create a synergistic ecosystem and foster new technologies and business models [3]

Company Overview - Shanghai Xinxiang Microelectronics Co., Ltd. is located at 10 Cangwu Road, Xuhui District, Shanghai, established on March 29, 2005, and listed on June 1, 2023. The company specializes in the research, design, and sales of display chips, aiming to provide complete display chip system solutions [1]. Business Composition - The main business revenue composition includes integrated display chips at 70.30%, separated display chips at 25.77%, liquid crystal display glass at 2.04%, and other businesses at 1.89% [1]. Market Performance - As of September 15, the stock price of Xinxiang Micro fell by 5.24%, trading at 21.34 CNY per share, with a transaction volume of 114 million CNY and a turnover rate of 1.61%. The total market capitalization is 9.806 billion CNY [1]. Fund Holdings - According to data from the top ten heavy stocks of funds, one fund under Caitong Fund holds a significant position in Xinxiang Micro. The Caitong Advanced Manufacturing Select Mixed Fund A (019612) held 41,700 shares in the second quarter, accounting for 3.18% of the fund's net value, ranking as the fifth-largest heavy stock [2]. Fund Performance - The Caitong Advanced Manufacturing Select Mixed Fund A (019612) was established on May 29, 2024, with a latest scale of 18.6264 million CNY. Year-to-date returns are 31.81%, ranking 2432 out of 8246 in its category, while the one-year return is 43.3%, ranking 3787 out of 8054. Since inception, the return is 39.92% [2]. Fund Manager Information - The fund manager, Zhu Haidong, has a tenure of 6 years and 64 days, managing a total fund size of 1.478 billion CNY, with the best return during his tenure at 64.15% and the worst at -27.19%. Co-manager Gu Hongyuan has a tenure of 4 years and 114 days, managing 484 million CNY, with the best return at 47.9% and the worst at -23.03% [2].

Group 1 - The core viewpoint of the articles highlights the performance and financial metrics of Shanghai Xinxiang Microelectronics Co., Ltd., which has seen a stock price increase of 5.11% to 21.00 CNY per share, with a total market capitalization of 9.65 billion CNY [1] - The company specializes in the research, design, and sales of display chips, with its main revenue sources being integrated display chips (70.30%), separated display chips (25.77%), liquid crystal display glass (2.04%), and other businesses (1.89%) [1] - The company was established on March 29, 2005, and went public on June 1, 2023, indicating its recent entry into the stock market [1] Group 2 - From the perspective of fund holdings, the Caifeng Fund has a significant position in Xinxiang Micro, with its fund holding 41,700 shares, representing 3.18% of the fund's net value, making it the fifth-largest holding [2] - The Caifeng Advanced Manufacturing Select Mixed Fund A (019612) has achieved a year-to-date return of 31.57% and a one-year return of 43.02%, ranking 2407 out of 8174 and 3724 out of 7981 in its category, respectively [2] - The fund managers, Zhu Haidong and Gu Hongyuan, have notable performance records, with Zhu achieving a best return of 61.64% during his tenure and Gu achieving a best return of 46.63% [2]

股票简称：新相微 股票代码：688593 上海新相微电子股份有限公司 Shanghai New Vision Microelectronics Co., Ltd. （住所：上海市徐汇区桂平路 680 号 31 幢 7 楼） 首次公开发行股票并在科创板上市公告书 保荐机构（主承销商） （北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层） 二〇二三年五月三十一日 特别提示 上海新相微电子股份有限公司（以下简称"新相微"、"本公司"、"发行人"或 "公司"）股票将于 2023 年 6 月 1 日在上海证券交易所科创板上市。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在新股上市 初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 1 第一节 重要声明与提示 一、重要声明 本公司及全体董事、监事、高级管理人员保证上市公告书所披露信息的真实、准确、 完整，承诺上市公告书不存在虚假记载、误导性陈述或重大遗漏，并依法承担法律责任。 上海证券交易所、有关政府机关对本公司股票上市及有关事项的意见，均不表明对 本公司的任何保证。 本 公 司 提 醒 广 大 投 资 者 认 真 阅 读 刊 ...

本次股票发行后拟在科创板市场上市，该市场具有较高的投资风险。科创板公司 具有研发投入大、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解科创板市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 上海新相微电子股份有限公司 Shanghai New Vision Microelectronics Co., Ltd. （住所：上海市徐汇区桂平路 680 号 31 幢 7 楼） 首次公开发行股票并在科创板上市 招股意向书 保荐机构（主承销商） （住所：北京市朝阳区建国门外大街1号国贸大厦2座27层及28层） 上海新相微电子股份有限公司 招股意向书 发行人声明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行人自 行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票依法 发行后因发行人 ...

本次股票发行后拟在科创板市场上市，该市场具有较高的投资风险。科创板公司 具有研发投入大、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解科创板市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 上海新相微电子股份有限公司 Shanghai New Vision Microelectronics Co., Ltd. （住所：上海市徐汇区桂平路 680 号 31 幢 7 楼） 首次公开发行股票并在科创板上市 招股说明书 （注册稿） 中国证监会、上海证券交易所对本次发行所作的任何决定或意见均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对 发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之 相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行人自 行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票依法 发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 本公司的发行申请尚需经上海证券交易所和中国证监会履行相应程序。本招股说 保荐机构 ...

本次股票发行后拟在科创板市场上市，该市场具有较高的投资风险。科创板公司 具有研发投入大、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较 大的市场风险。投资者应充分了解科创板市场的投资风险及本公司所披露的风险 因素，审慎作出投资决定。 上海新相微电子股份有限公司 Shanghai New Vision Microelectronics Co., Ltd. （住所：上海市徐汇区桂平路 680 号 31 幢 7 楼） 首次公开发行股票并在科创板上市 招股说明书 （注册稿） 本公司的发行申请尚需经上海证券交易所和中国证监会履行相应程序。本招股说 明书（注册稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应 当以正式公告的招股说明书作为投资决定的依据。 保荐机构（主承销商） 发行人声明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见均不表明其对注 册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人 的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反的 声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人 ...