融券方面，炬芯科技10月9日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年80%分位水平，处于高位。 10月9日，炬芯科技涨0.80%，成交额7.75亿元。两融数据显示，当日炬芯科技获融资买入额1.19亿元， 融资偿还7779.27万元，融资净买入4103.45万元。截至10月9日，炬芯科技融资融券余额合计5.39亿元。 融资方面，炬芯科技当日融资买入1.19亿元。当前融资余额5.39亿元，占流通市值的4.91%，融资余额 超过近一年90%分位水平，处于高位。 机构持仓方面，截止2025年6月30日，炬芯科技十大流通股东中，泰信中小盘精选混合（290011）位居 第二大流通股东，持股300.00万股，相比上期减少58.00万股。富国新兴产业股票A/B（001048）位居第 三大流通股东，持股274.37万股，相比上期减少13.72万股。信澳新能源产业股票A（001410）位居第四 大流通股东，持股231.16万股，相比上期减少18.86万股。泰信鑫选混合A（001970）位居第六大流通股 东，持股194.00万股，相比上期减少 ...

9月25日，炬芯科技涨1.10%，成交额7.30亿元。两融数据显示，当日炬芯科技获融资买入额1.34亿元， 融资偿还1.02亿元，融资净买入3231.50万元。截至9月25日，炬芯科技融资融券余额合计5.30亿元。 截至6月30日，炬芯科技股东户数1.71万，较上期增加10.20%；人均流通股8544股，较上期增加 18.12%。2025年1月-6月，炬芯科技实现营业收入4.49亿元，同比增长60.12%；归母净利润9137.54万 元，同比增长123.19%。 分红方面，炬芯科技A股上市后累计派现8192.23万元。 机构持仓方面，截止2025年6月30日，炬芯科技十大流通股东中，泰信中小盘精选混合（290011）位居 第二大流通股东，持股300.00万股，相比上期减少58.00万股。富国新兴产业股票A/B（001048）位居第 三大流通股东，持股274.37万股，相比上期减少13.72万股。信澳新能源产业股票A（001410）位居第四 大流通股东，持股231.16万股，相比上期减少18.86万股。泰信鑫选混合A（001970）位居第六大流通股 东，持股194.00万股，相比上期减少4.00万股。 责任编辑 ...

格隆汇9月25日丨炬芯科技(688049.SH)在投资者互动平台表示，公司主要产品包括智能无线音频SoC芯 片系列、端侧AI处理器芯片系列、便携式音视频SoC芯片系列等，主要应用于蓝牙音箱、无线麦克风、 智能蓝牙穿戴设备、无线家庭影院音响系统、无线电竞耳机等领域。公司暂未向open AI提供智能音箱 芯片。 ...

Core Viewpoint - Juchip Technology's stock performance shows a slight decline, with significant financing activity indicating high investor interest and potential growth opportunities in the smart audio chip sector [1][2]. Financing Activity - On September 15, Juchip Technology experienced a financing buy-in of 54.63 million yuan, with a net buy of 8.96 million yuan, while the total financing balance reached 472 million yuan, accounting for 4.86% of its market capitalization [1]. - The financing balance is above the 90th percentile of the past year, indicating a high level of investor engagement [1]. Company Performance - As of June 30, Juchip Technology reported a revenue of 449 million yuan for the first half of 2025, reflecting a year-on-year growth of 60.12%, and a net profit of 91.38 million yuan, up 123.19% year-on-year [2]. - The company has distributed a total of 81.92 million yuan in dividends since its A-share listing [3]. Shareholder Structure - The number of shareholders increased by 10.20% to 17,100 as of June 30, 2025, with an average of 8,544 circulating shares per shareholder, up 18.12% [2]. - Major institutional shareholders have reduced their holdings, with notable decreases in shares held by several funds [3].

汇安均衡成长混合A（016388）基金经理为蒋毅。 截至发稿，蒋毅累计任职时间172天，现任基金资产总规模3553.44万元，任职期间最佳基金回报 21.31%， 任职期间最差基金回报6.76%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 9月11日，炬芯科技涨5.09%，截至发稿，报55.34元/股，成交4.34亿元，换手率4.57%，总市值96.94亿 元。 资料显示，炬芯科技股份有限公司位于广东省珠海市高新区唐家湾镇科技四路1号1#厂房一层C区，成 立日期2014年6月5日，上市日期2021年11月29日，公司主营业务涉及中高端智能音频SoC芯片的研发、 设计及销售。主营业务收入构成为：智能无线音频SoC芯片系列70.82%，端侧AI处理器芯片系列 18.80%，便携式音视频SoC芯片系列10.31%，其他0.06%。 从基金十大重仓股角度 数据显示，汇安基金旗下1只基金重仓炬芯科技。汇安均衡成长混合A（016388）二季度减持1.06万股 ...

Core Viewpoint - Juchip Technology's stock has shown significant growth this year, with a 44.41% increase, reflecting strong market interest and performance in the semiconductor sector [1][2]. Company Performance - As of June 30, 2025, Juchip Technology reported a revenue of 449 million yuan, marking a year-on-year growth of 60.12%, and a net profit of 91.38 million yuan, which is a 123.19% increase compared to the previous year [2]. - The company has a market capitalization of 9.42 billion yuan and has seen a trading volume of 93.90 million yuan on September 11, 2023 [1]. Stock and Shareholder Information - The stock price reached 53.78 yuan per share on September 11, 2023, with a trading turnover rate of 1.01% [1]. - The number of shareholders increased by 10.20% to 17,100 as of June 30, 2025, with an average of 8,544 shares held per shareholder, up by 18.12% [2]. Dividends and Institutional Holdings - Juchip Technology has distributed a total of 81.92 million yuan in dividends since its A-share listing [3]. - As of June 30, 2025, major shareholders include Taixin Small and Medium Cap Selected Mixed Fund, which holds 3 million shares, a decrease of 580,000 shares from the previous period [3].

Group 1 - The core viewpoint of the news is that Juchip Technology has experienced a significant decline in its stock price, dropping 5.1% on September 4, with a cumulative decline of 10.21% over four consecutive days [1] - As of the report, Juchip Technology's stock price is at 53.81 yuan per share, with a trading volume of 408 million yuan and a turnover rate of 4.20%, resulting in a total market capitalization of 9.426 billion yuan [1] - The company, established on June 5, 2014, specializes in the research, design, and sales of mid-to-high-end smart audio SoC chips, with its main business revenue composition being 70.82% from smart wireless audio SoC chips, 18.80% from edge AI processor chips, and 10.31% from portable audio and video SoC chips [1] Group 2 - From the perspective of fund holdings, one fund under Furong Fund has a significant position in Juchip Technology, with the Furong Research Optimal Mixed A Fund holding 2.8% of its net value in the stock, ranking as the ninth largest holding [2] - The fund has experienced a floating loss of approximately 6,011.2 yuan today, with a total floating loss of 13,400 yuan during the four-day decline [2] - The Furong Research Optimal Mixed A Fund was established on September 19, 2023, with a latest scale of 943,400 yuan, and has achieved a year-to-date return of 38.84% [2]

Core Viewpoint - The report highlights the significant growth in revenue and profit for Actions Technology Co., Ltd. in the first half of 2025, driven by the successful commercialization of AI audio chips and the increasing demand for low-latency wireless audio products [1][5]. Financial Performance - The company achieved operating revenue of approximately 449.12 million yuan, representing a year-on-year increase of 60.12% [4]. - The total profit reached approximately 91.72 million yuan, a 123.38% increase compared to the same period last year [4]. - The net profit attributable to shareholders was approximately 91.38 million yuan, reflecting a 123.19% year-on-year growth [4]. - Basic earnings per share were 0.53 yuan, up 120.83% from the previous year [5]. Business Overview - Actions Technology specializes in the design and sale of mid-to-high-end AIoT chips, focusing on wireless audio, smart wearables, and intelligent interaction [8][11]. - The company has successfully launched the ATS323X series of low-latency high-quality wireless audio chips, marking a significant step in the commercialization of in-memory computing technology [8][18]. - The product portfolio includes smart wireless audio SoC chips, edge AI processor chips, and portable audio-video SoC chips [8][9]. Market Position and Strategy - The company is positioned as a leading low-power AIoT chip designer in China, with a focus on integrating AI technology into audio applications [8][11]. - Actions Technology employs a Fabless business model, outsourcing manufacturing and testing while focusing on chip design and development [9][10]. - The company has established partnerships with major audio brands, enhancing its market presence and product penetration [18][19]. Industry Context - The semiconductor industry is experiencing rapid growth, with global sales projected to reach 627.6 billion USD in 2024, marking a 19.1% increase [12]. - The demand for AI capabilities in edge devices is rising, particularly in battery-powered applications, creating opportunities for high-efficiency AI chips [13][14]. - The development of private communication protocols is addressing the limitations of standard protocols in low-latency scenarios, further driving innovation in the audio technology sector [15][16].

Investment Rating - The report gives a "Strong Buy" rating for the company, Yuchip Technology (688049), with a target price of 76.84 CNY based on a 65x PE for 2025 [2][11]. Core Viewpoints - Yuchip Technology is a leading domestic low-power AIoT chip design manufacturer, focusing on the mid-to-high-end smart audio SoC sector. The company has established itself as a mainstream supplier in the Bluetooth speaker SoC market and is expanding into wireless microphones, home theaters, and wearable products [8][9][11]. - The company is expected to achieve significant revenue and profit growth in 2024 and 2025, driven by an increase in market share and the launch of new products. The projected revenue for 2024 is 652 million CNY, with a year-on-year growth of 25.3%, and a net profit of 107 million CNY, reflecting a year-on-year increase of 63.8% [2][30]. Company Overview - Yuchip Technology specializes in the research, design, and sales of mid-to-high-end smart audio SoC chips, with applications in various products such as Bluetooth speakers, smart wearables, and AIoT devices. The company has a diverse product matrix that includes smart wireless audio SoC chips, low-latency high-quality audio SoC chips, smart wearable SoC chips, and edge AI processor chips [19][20]. - The company has a stable and concentrated shareholding structure, with the controlling shareholder being the Taiwan Yeh family, ensuring consistent decision-making and strategic direction [24][26]. Financial Performance - The company is projected to achieve a net profit of 173 million CNY in 2025, 235 million CNY in 2026, and 317 million CNY in 2027, indicating strong growth potential [2][11]. - The revenue from the wireless audio SoC chip segment is the largest contributor to the company's income, accounting for over 74% of total revenue in recent years. The gross margin for this segment has been increasing, reaching 48.94% in 2024 [34][35]. Industry Analysis - The Bluetooth technology upgrade is driving the expansion of application scenarios, with the market for smart audio SoC chips expected to grow significantly. The structural recovery of the Bluetooth speaker market and innovations in wearable products are anticipated to further boost demand [10][11]. - The company is well-positioned to benefit from the ongoing energy efficiency revolution, with its innovative CIM architecture addressing the challenges of traditional computing structures. This positions Yuchip Technology as a leader in the low-power edge AI market [9][10].

Core Insights - The company, Juchip Technology, reported a revenue of 652 million yuan for 2024, representing a year-on-year growth of 25.34%, and a net profit of 107 million yuan, up 63.83% from the previous year [1][2] - The growth is attributed to the successful launch of popular products in the Bluetooth speaker chip market and an increase in the sales proportion of high-margin products [1][3] - The company has maintained a high level of R&D investment, with total R&D expenditure reaching 753 million yuan from 2020 to 2024, and a record R&D expense ratio of 32.98% in 2024 [1][5] Financial Performance - The net profit excluding non-recurring items for 2024 was 79 million yuan, reflecting a growth of 53.65% [2] - In Q4 2024, the company achieved a revenue of 185 million yuan, a year-on-year increase of 28.7%, and a net profit of 35.67 million yuan, up 96.7% [2][3] - The overall gross margin for 2024 reached 48.22%, an increase of 4.49 percentage points compared to the previous year [3] Product Development - Juchip Technology focuses on low-power AIoT chip design, with its main products being mid-to-high-end smart audio SoC chips [2][4] - The company’s AI processor chips saw a revenue increase of 141.08%, reaching 81.99 million yuan, while the smart wireless audio SoC chip series generated 486 million yuan, accounting for 74.54% of total revenue [3] - The company plans to launch the second generation of its MMSCIM chip in 2025, which will have three times the performance of the first generation [5] R&D Investment - R&D investment increased by 30.06% in 2024, totaling 215 million yuan, with a focus on core technology development in AI and wireless communication [5][6] - The company has a total of 337 global patents, including 300 invention patents, and has expanded its R&D team to 266 members, representing 73.08% of the total workforce [5][6]