日前，新紫光集团旗下核心上市公司紫光国微的一则公告，宣告了其平台化布局的关键一步：公司正筹 划收购国内功率半导体企业瑞能半导体科技股份有限公司（简称"瑞能半导"）控股权。 业内人士认为，此次收购并非一次简单的业务拓展，而是加速了公司向综合性半导体平台的战略转型进 程。瑞能半导的加入，是助力该目标实现的重要一环。 为何是瑞能半导？ 首先是深厚的技术传承与高起点的市场卡位。瑞能半导曾隶属于恩智浦，这使其继承了国际一流的产品 开发流程与质量管理体系、技术积淀以及成熟的客户群。其次是较强的抗风险能力。瑞能半导的设计与 制造主要在国内，为供应链安全提供了保障。最后是即将释放的业绩增长弹性。 有熟悉瑞能半导的相关人士表示，当前其利润受新建的北京、上海工厂折旧费用拖累，随着工厂陆续建 成以及设备搬入，预计明年可实现量产，届时产能释放有望助力整体经营表现。 协同效应驱动 收购优质资产只是开始，真正的价值创造源于成功的整合与协同。 "作为芯片设计公司，紫光国微的强项在于芯片设计与方案开发。"上述行业分析师表示，瑞能半导拥有 晶圆厂和制造能力，可为紫光国微提供产能支撑。此外，双方战略方向契合，紫光国微正大力布局汽车 电子赛道，瑞 ...

12月29日晚间，紫光国微（002049）（002049.SZ）发布重磅停牌公告，宣布正筹划以发行股份及支付 现金相结合的方式，收购瑞能半导体科技股份有限公司（以下简称"瑞能半导"，873928.NQ）控股权或 全部股权，并同步募集配套资金。公司股票及可转债自12月30日开市起正式停牌，预计不超过10个交易 日内披露具体交易方案。 资料显示，瑞能半导前任董事长李滨先生同为上市公司间接控股股东新紫光集团有限公司董事长，并间 接持有瑞能半导股权；紫光国微董事长暨间接控股股东新紫光集团有限公司董事陈杰先生通过交易对方 天津瑞芯间接持有瑞能半导股权。专业人士指出，此次收购作为关联交易，不构成重大资产重组及控制 权变更，却标志着紫光国微在半导体产业链的布局按下"加速键"，通过整合"专精特新"优质资源，进一 步夯实核心竞争力。 瑞能半导深耕功率半导体 兼具技术积淀与全球渠道 全景网了解到，作为此次收购的核心标的，瑞能半导是国内功率半导体领域的领军企业，成立于2015年 8月，注册资本3.62亿元，注册地址位于江西南昌，目前为新三板创新层挂牌企业。 紫光国微补全业务短板 双轮驱动迈向产业生态化 值得一提的是，此次收购并非紫 ...

同日，紫光国微披露另一则公告显示，公司近日收到玉田县行政审批局出具的《登记通知书》，确认公 司全资子公司捷准芯测已完成注销登记。本次注销完成后，捷准芯测将不再纳入紫光国微合并报表范 围。 紫光国微明确表示，本次子公司清算注销事项，不会对公司正常生产经营、整体业务发展及盈利能力产 生重大不利影响，亦不存在损害公司及全体股东，尤其是中小股东合法权益的情形。 12 月 29 日，紫光国微发布重大资产重组公告称，公司正筹划以发行股份及支付现金相结合的方式，收 购南昌建恩半导体产业投资中心（有限合伙）、北京广盟半导体产业投资中心（有限合伙）、天津瑞芯 半导体产业投资中心（有限合伙）等交易对方所持有的瑞能半导体科技股份有限公司控股权或全部股 权，同时拟募集配套资金。 12 月 29 日，紫光国微发布重大资产重组公告称，公司正筹划以发行股份及支付现金相结合的方式，收 购南昌建恩半导体产业投资中心（有限合伙）、北京广盟半导体产业投资中心（有限合伙）、天津瑞芯 半导体产业投资中心（有限合伙）等交易对方所持有的瑞能半导体科技股份有限公司控股权或全部股 权，同时拟募集配套资金。 根据深圳证券交易所相关规定，经公司申请，紫光国微股票 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a strong performance expectation relative to the market [7]. Core Insights - The company is planning to acquire the controlling stake or all equity of Ruineng Semiconductor through a combination of issuing shares and cash payments, which is expected to enhance its automotive electronics business [4][7]. - The acquisition is anticipated to enrich the company's automotive product offerings and further solidify its position in the automotive electronics sector, providing comprehensive solutions to clients [7]. - The company is positioned to enter a new growth phase, supported by a robust incentive mechanism for core employees and strategic partnerships, particularly with Ningde Times [7]. - The demand for specialized integrated circuits is expected to grow, driven by advancements in defense information technology and commercial aerospace, which will benefit the company's FPGA and specialized AI chip segments [7]. Financial Data and Earnings Forecast - Total revenue is projected to grow from 5,511 million in 2024 to 12,209 million by 2027, with a compound annual growth rate (CAGR) of approximately 31.5% [6]. - The net profit attributable to the parent company is expected to increase from 1,179 million in 2025 to 3,495 million in 2027, reflecting a significant growth trajectory [6]. - The company's gross margin is forecasted to improve slightly from 56.8% in 2025 to 57.5% in 2027, indicating operational efficiency [6]. - The price-to-earnings (PE) ratio is projected to decrease from 39 in 2025 to 19 in 2027, suggesting an attractive valuation as earnings grow [6].

Group 1: Key Insights on Xingfu Electronics - The company is backed by Xingfa Group, a leading player in the phosphate chemical and fine chemical industry, ensuring strong supply chain support [8] - It focuses on semiconductor applications, with a complete wet electronic chemical product system, including 60,000 tons of electronic-grade phosphoric acid and 100,000 tons of electronic-grade sulfuric acid, leading the domestic market [8] - The company aims to become a world-class electronic materials enterprise, with ongoing internationalization and diversification strategies [8] Group 2: Key Insights on JD Industrial - JD Industrial is a leading provider of industrial supply chain technology and services in China, with a projected revenue of 20.398 billion yuan and an adjusted net profit of 909 million yuan for 2024 [10] - The company has established a comprehensive digital infrastructure for supply chain management, covering 80 product categories and serving over 11,100 key enterprise clients [10] - The industrial supply chain market in China is vast, with a size of 11.4 trillion yuan in 2024, and JD Industrial holds a market share of 4.1% in the industrial supply chain technology and services market [10] Group 3: Insights on the Coal Industry - The coal industry is experiencing a restructuring due to stricter safety regulations, with a cumulative coal production of 4.402 billion tons from January to November, showing a year-on-year increase of 1.4% [14] - The demand for coal remains stable, with a projected increase in coal consumption in the chemical industry, and the overall coal demand is expected to grow slightly [14] - Investment recommendations include stable high-dividend stocks like China Shenhua and Shaanxi Coal, as well as growth stocks such as TBEA and Huaihe Energy [14] Group 4: Insights on MEMS Sensor Industry - The company is a leading player in high-performance MEMS inertial sensors, with a revenue and net profit CAGR exceeding 38% from 2019 to 2024 [15] - The MEMS technology market is expanding, with applications in consumer electronics, automotive, industrial, and aerospace sectors [16] - The company is actively pursuing new market opportunities, including partnerships in autonomous driving and low-altitude aviation [16] Group 5: Insights on Automotive Industry - The automotive market is seeing a shift towards intelligent and high-end vehicles, with a focus on new energy vehicles and the potential for significant growth in the second-hand car market [24] - Recent data indicates a 9% month-on-month increase in retail sales of passenger vehicles, despite a year-on-year decline [26] - Investment recommendations include companies with strong alpha potential and those benefiting from the ongoing reforms in state-owned enterprises [27]

12月26日，台基股份盘中下跌2.07%，截至11:18，报35.55元/股，成交2.11亿元，换手率2.48%，总市值 84.09亿元。 资金流向方面，主力资金净流出5296.36万元，特大单买入508.44万元，占比2.41%，卖出4188.52万元， 占比19.88%；大单买入3303.07万元，占比15.67%，卖出4919.35万元，占比23.34%。 台基股份今年以来股价跌1.59%，近5个交易日涨2.54%，近20日涨1.34%，近60日跌15.34%。 责任编辑：小浪快报 台基股份所属申万行业为：电子-半导体-分立器件。所属概念板块包括：小盘、IGBT概念、国资改革、 融资融券、湖北国资等。 截至9月30日，台基股份股东户数7.37万，较上期减少22.35%；人均流通股3209股，较上期增加 28.78%。2025年1月-9月，台基股份实现营业收入2.71亿元，同比增长5.85%；归母净利润5668.53万元， 同比增长205.58%。 分红方面，台基股份A股上市后累计派现4.91亿元。近三年，累计派现3429.70万元。 机构持仓方面，截止2025年9月30日，台基股份十大流通股东中，香港中 ...

整流二极管和晶闸管都是基础半导体器件，不仅广泛应用在手机充电器、灯光调节、吸尘器调速、电磁 炉功率控制等家用电器中，也广泛应用于电动汽车及其充电桩、新能源发电、新型电力系统、智能电 网、工业自动化以及航空航天等领域。 在全球能源转型和科技竞争加剧的背景下，两项国际标准解决了标准技术内容长期与产品发展不匹配、 不适应问题，提升了大功率半导体器件(例如用于"西电东送"高压直流输电工程)测试的适用性和可操作 性，将成为全球制造商、用户及第三方检测机构进行产品研发、检测和应用的重要依据，有助于提升中 国电力电子产业整体技术和质量水平。(完)【编辑:刘阳禾】 中新社北京12月11日电 (记者 刘亮)中国国家市场监管总局11日公布，中国牵头修订的两项功率半导体 器件国际标准近日发布。这两项国际标准将提升大功率半导体器件测试的适用性和可操作性。 国际电工委员会近日发布由中国牵头修订的两项功率半导体器件领域关键国际标准《半导体器件 第2部 分：分立器件 整流二极管》和《半导体器件 第6部分：分立器件 晶闸管》。这是中国深度参与功率半 导体器件国际标准化工作的重要突破。 ...

我国专家作为项目负责人，与来自日本、德国、韩国的专家，对标准中的术语和定义、测试方法和条件 等内容进行多次研讨，国内技术团队更是进行了上千次相关试验验证，确保标准内容结构严谨、内容完 备。 整流二极管和晶闸管都是基础半导体器件，不仅广泛应用在手机充电器、灯光调节、吸尘器调速、电磁 炉功率控制等家用电器中，也广泛应用于电动汽车及其充电桩、新能源发电、新型电力系统、智能电 网、工业自动化以及航空航天等领域。 在全球能源转型和科技竞争加剧的背景下，该两项国际标准解决了标准技术内容长期与产品发展不匹 配、不适应问题，提升了大功率半导体器件(例如用于"西电东送"高压直流输电工程)测试的适用性和可 操作性，将成为全球制造商、用户及第三方检测机构进行产品研发、检测和应用的重要依据，有助于提 升我国电力电子产业整体技术和质量水平。 12月11日，记者从市场监管总局获悉，近日，国际电工委员会(IEC)发布由我国牵头修订的两项功率半 导体器件领域关键国际标准《半导体器件第2部分：分立器件整流二极管》(IEC60747—2:2025ED4.0)和 《半导体器件第6部分：分立器件晶闸管》(IEC60747—6:2025ED4.0)。 ...

记者11日从市场监管总局获悉，国际电工委员会（IEC）近日发布由我国牵头修订的两项功率半导体器 件领域关键国际标准《半导体器件第2部分：分立器件整流二极管》《半导体器件第6部分：分立器件晶 闸管》。 这两项国际标准解决了标准技术内容长期与产品发展不匹配、不适应问题，提升了大功率半导体器件测 试的适用性和可操作性，将成为全球制造商、用户及第三方检测机构进行产品研发、检测和应用的重要 依据，有助于提升我国电力电子产业整体技术和质量水平。 整流二极管和晶闸管都是基础半导体器件，不仅广泛应用在手机充电器、灯光调节、吸尘器调速、电磁 炉功率控制等家用电器中，还广泛应用于电动汽车及其充电桩、新能源发电、新型电力系统、智能电 网、工业自动化以及航空航天等领域。 （文章来源：新华网） 据介绍，这是我国深度参与功率半导体器件国际标准化工作的重要突破，为全球电能转换与控制技术的 规范化、产业化注入"中国智慧"。 ...

Core Viewpoint - Taiji Co., Ltd. is a leading enterprise in the domestic high-power semiconductor device segment, focusing on the research, manufacturing, sales, and service of high-power semiconductor devices and their components, with a strong emphasis on quality and capacity delivery [1] Financial Performance - In Q3 2025, Taiji Co., Ltd. achieved a revenue of 271 million yuan, ranking 16th among 18 companies in the industry, while the industry leader, Wentech, reported revenue of 29.769 billion yuan [2] - The revenue composition includes module income of 79.051 million yuan (44.19%), thyristor income of 76.250 million yuan (42.65%), and other income of 23.532 million yuan (13.16%) [2] - The net profit for the same period was 55.800 million yuan, ranking 10th in the industry, with the industry leader reporting a net profit of 1.505 billion yuan [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 8.46%, an increase from 7.82% year-on-year, which is significantly lower than the industry average of 24.02% [3] - The gross profit margin for the same period was 30.27%, slightly below the industry average of 30.71% [3] Management and Shareholder Information - The chairman, Xing Yan, received a salary of 618,200 yuan in 2024, an increase of 18,500 yuan from the previous year [4] - As of September 30, 2025, the number of A-share shareholders decreased by 22.35% to 73,700, while the average number of circulating A-shares held per account increased by 28.78% to 3,209.9 [5] Business Highlights - The company is positioned well in the domestic high-power semiconductor device sector, benefiting from accelerated domestic substitution processes and a strong brand effect [5] - In 2024, the company plans to continue adjusting its product and market structure, with a steady increase in high-end market revenue share [5] - The company has secured significant orders in specialized power supply fields and reported over 40% year-on-year growth in sales of devices in the digital energy sector [5]