1. DeepSeek在留言区的一句话，引爆了8月22日A股半导体和算力行情，以寒武纪、海光信息、中科曙 光等为首的龙头个股接连涨停。其中寒武纪股价接连突破1100元和1200元两大关口，最终20CM涨停封 板，收盘价达1243.20元，总市值站上5200亿元。 2.炬芯科技公布2025年半年度报告显示，该公司上半年实现营业收入4.49亿元，同比增长60.12%；归母 净利润0.91亿元，同比增长123.19%；扣非净利润0.86亿元，同比增长269.08%。对于营收变化，炬芯科 技在半年报中表示，2025年上半年，该公司推进端侧产品AI化转型。端侧AI音频芯片方面，该公司基 于第一代存内计算技术的端侧AI音频芯片已成功进入多家头部品牌立项阶段，其中面向低延时私有无 线音频领域的客户终端产品率先实现量产，带动新品起量。同时，炬芯科技端侧AI处理器芯片已落地 头部音频品牌的高端音箱、Party音箱等产品，销售收入实现数倍增长；低延迟高音质无线音频产品市 场需求爆发，销售额攀升；蓝牙音箱SoC芯片系列在头部音频品牌渗透率上升。 3. 盛科通信2025年上半年实现营业收入5.08亿元，同比下降4.56%；归母净利润 ...

2025 年上半年，炬芯科技全力推进端侧产品 AI 化转型，通过加大研发投入与加速新品迭代，经营绩效 极为亮眼，公司整体价值加速跃升。公司基于第一代存内计算技术的端侧 AI 音频芯片推广成效显著， 已成功进入多家头部品牌立项阶段，其中面向低延时私有无线音频领域的客户终端产品率先实现量产， 带动新品快速起量。在端侧产品 AI 化浪潮的推动下，公司产品矩阵持续突破，端侧 AI 处理器芯片成 功落地头部音频品牌的高端音箱、Party 音箱等产品，渗透率显著提升，销售收入实现数倍增长；低延 迟高音质无线音频产品市场需求爆发，销售额高速攀升；蓝牙音箱 SoC芯片系列在头部音频品牌渗透率 持续上升，成长潜力进一步释放，头部品牌客户的产品价值量和合作深度同步提升。报告期内，公司的 产品和客户销售结构持续优化，带动公司毛利水平稳步上扬，同时，公司营业收入增速明显超过费用增 速，由此带来的规模效应显著提升了公司整体利润水平。 值得关注的是，报告期内，炬芯科技加大了研发力度，研发费用投入约 12,384.68 万元，同比增长 23.57%。公司围绕下游实际应用场景，从芯片硬件算力、无线连接技术、音频算法升级和开发生态， 全方位提 ...

Core Viewpoint - The article discusses the recent major asset restructuring plan of A-share listed company Kaipu Cloud, which aims to acquire a 70% stake in Nanning Taike, thereby expanding its storage product business and enhancing its competitiveness in the AI infrastructure sector [1][2][3]. Group 1: Kaipu Cloud's Restructuring Plan - Kaipu Cloud plans to acquire 30% of Nanning Taike's equity from Shenzhen Jintaike through the issuance of A-shares and will also raise supporting funds [2]. - The acquisition is expected to meet the criteria for a significant asset restructuring as defined by the restructuring management measures [2]. - Post-transaction, Nanning Taike will become a subsidiary of Kaipu Cloud, allowing the company to expand its business scope and improve its market influence [3]. Group 2: Performance of AI Concept Stocks - Kexin New Energy reported a revenue of 541 million yuan, a year-on-year increase of 43.9%, and a net profit of 17.6 million yuan, up 520.71% [4][5]. - Juxin Technology achieved a revenue of 449 million yuan, a 60.12% increase, and a net profit of 91.4 million yuan, up 123.19% [5]. - Anshuo Information's revenue reached 38 million yuan, growing 14.48%, with a net profit of 11.9 million yuan, an increase of 182.65% [6]. - Huazhan Optoelectronics reported a revenue of 2.532 billion yuan, a 33.93% increase, but incurred a net loss of 115 million yuan [7]. - Digital Zhengtong's revenue fell to 32.1 million yuan, a decrease of 40.34%, resulting in a net loss of 18.7 million yuan [7].

2025.08. 24 以下是第一财经对一些重要公告的汇总，供投资者参考。 【品大事】 中国中铁：尖扎黄河特大桥施工事故原因正在调查中 中国中铁(601390)公告，8月22日3时10分左右，公司全资子公司中铁大桥局集团有限公司施工的 川青铁路青海段尖扎黄河特大桥，辅助钢梁架设的吊索塔架前端扣索突然崩断，截至目前造成12人 遇难、4人失联。目前，现场应急和搜救等相关工作正有序开展，事故原因正在调查之中。公司对此 次事故不幸遇难者表示沉痛哀悼，并对遇难者家属表达歉意。公司将深刻汲取教训，落实好企业主体 责任，妥善处理相关后续工作。尖扎黄河特大桥全长1596.2米，合同额约4.36亿元。此次事故不会 对公司生产经营及业绩产生重大影响。 格林美：拟发行H股并在香港联交所主板挂牌上市 格林美(002340)公告，公司拟发行H股股票并在香港联交所主板挂牌上市。 景旺电子：拟50亿元投建珠海金湾基地扩产项目 聚焦AI算力等高增长领域 景旺电子(603228)公告，公司拟投资建设珠海金湾基地扩产项目，预计总投资50亿元。经初步测 算，此次扩产投资项目税后投资回收期约为7.5年（含建设期），项目建设周期为2025年至2027 ...

以下是第一财经对一些重要公告的汇总，供投资者参考。 【品大事】 鼎胜新材： 拟通过出售三门峡铝业0.57%股权 持有焦作万方股份 中国中铁：尖扎黄河特大桥施工事故原因正在调查中 中国中铁(601390)公告，8月22日3时10分左右，公司全资子公司中铁大桥局集团有限公司施工的川青铁 路青海段尖扎黄河特大桥，辅助钢梁架设的吊索塔架前端扣索突然崩断，截至目前造成12人遇难、4人 失联。目前，现场应急和搜救等相关工作正有序开展，事故原因正在调查之中。公司对此次事故不幸遇 难者表示沉痛哀悼，并对遇难者家属表达歉意。公司将深刻汲取教训，落实好企业主体责任，妥善处理 相关后续工作。尖扎黄河特大桥全长1596.2米，合同额约4.36亿元。此次事故不会对公司生产经营及业 绩产生重大影响。 格林美：拟发行H股并在香港联交所主板挂牌上市 格林美(002340)公告，公司拟发行H股股票并在香港联交所主板挂牌上市。 景旺电子：拟50亿元投建珠海金湾基地扩产项目 聚焦AI算力等高增长领域 景旺电子(603228)公告，公司拟投资建设珠海金湾基地扩产项目，预计总投资50亿元。经初步测算，此 次扩产投资项目税后投资回收期约为7.5年（含建 ...

报告期内，在端侧产品AI化浪潮的推动下，公司端侧AI处理器芯片成功落地头部品牌，渗透率显著提 升，销售收入实现数倍增长；低延迟高音质无线音频产品市场需求爆发，销售额高速攀升；蓝牙音箱 SoC芯片系列在头部音频品牌渗透率持续上升，成长潜力进一步释放，头部品牌客户的产品价值量和合 作深度同步提升，推动公司营业收入快速增长。 人民财讯8月24日电，炬芯科技(688049)8月24日晚间披露2025年半年报，上半年实现营业收入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%；基本每股收益0.53元。公司拟每10 股派发现金红利1元(含税)。 ...

格隆汇8月24日丨炬芯科技(688049.SH)公布2025年半年度报告，报告期实现营业收入4.49亿元，同比增 长60.12%；归属于上市公司股东的净利润9137.54万元，同比增长123.19%；归属于上市公司股东的扣除 非经常性损益的净利润8590.47万元，同比增长269.08%；基本每股收益0.53元。拟向全体股东每10股派 发现金红利1.00元人民币（含税）。 2025年上半年，公司全力推进端侧产品 AI 化转型，通过加大研发投入与加速新品迭代，经营绩效极为 亮眼，公司整体价值加速跃升。公司基于第一代存内计算技术的端侧AI 音频芯片推广成效显著，已成 功进入多家头部品牌立项阶段，其中面向低延时私有无线音频领域的客户终端产品率先实现量产，带动 新品快速起量。在端侧产品 AI 化浪潮的推动下，公司产品矩阵持续突破，端侧 AI 处理器芯片成功落 地头部音频品牌的高端音箱、Party 音箱等产品，渗透率显著提升，销售收入实现数倍增长；低延迟高 音质无线音频产品市场需求爆发，销售额高速攀升；蓝牙音箱SoC芯片系列在头部音频品牌渗透率持续 上升，成长潜力进一步释放，头部品牌客户的产品价值量和合作深度同步提升。 ...

Core Viewpoint - The 2024 Annual General Meeting of Juchip Technology Co., Ltd. outlines the company's financial performance, governance practices, and future plans, emphasizing a significant increase in revenue and net profit compared to the previous year [1][2][3]. Meeting Procedures - The meeting will follow a structured agenda as outlined in the notice, allowing shareholders to exercise their rights to speak, inquire, and vote [2][3]. - Shareholders must register and present necessary identification documents before participating in the meeting [1][2]. Financial Performance - The company reported a revenue of 651.88 million yuan for 2024, a 25.34% increase from 520.10 million yuan in 2023 [8][14]. - Net profit attributable to shareholders reached 106.58 million yuan, reflecting a 63.83% year-on-year growth [22]. - The basic earnings per share increased to 0.74 yuan, up 64.44% from 0.45 yuan in the previous year [8][14]. Financial Indicators - Total assets as of December 31, 2024, were 2.16 billion yuan, a 12.22% increase from 1.93 billion yuan in 2023 [8]. - The company's R&D expenditure accounted for 33% of its revenue, up from 31.80% the previous year, indicating a focus on innovation [8][14]. Cash Flow Analysis - The net cash flow from operating activities was 154.16 million yuan, slightly down by 0.60% from the previous year [15]. - Investment activities generated a positive cash flow of 82.03 million yuan, a significant turnaround from a negative cash flow of 280.21 million yuan in the prior year [15]. Governance and Compliance - The company plans to reappoint Tianjian Accounting Firm for the 2025 financial audit, ensuring compliance with relevant regulations [18][20]. - The board of directors has conducted meetings in accordance with legal requirements, ensuring transparency and accountability in decision-making [22][26]. Future Outlook - The company aims for steady growth in revenue and net profit for 2025, focusing on market expansion and cost control [16][22].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company specializes in wireless audio ICs, targeting high-end consumer and professional audio markets globally. Its main products include Bluetooth audio SoC chip series, portable audio and video SoC chip series, and smart voice interaction SoC chip series, which are widely used in Bluetooth speakers, headphones, smart education, and smart home applications. The company has become a mainstream supplier in the low-power wireless IoT field related to audio and has gradually achieved domestic substitution in relevant chip areas [2] - The company serves both international and domestic top-tier brands, including Harman, Sony, Bose, and Xiaomi, by providing differentiated chip combinations to meet the diverse needs of terminal brands in the market. This has led to increased penetration rates among mainstream terminal brands [2] - The company is continuously enhancing its product development and upgrades for 2.4G private communication protocols, which are widely applied in smart offices, smart homes, and industrial control. The latest generation of products supports a transmission power of up to 16dBm and a wireless transmission bandwidth of 4Mbps, showcasing strong wireless connection technology and anti-interference capabilities [2] - The company is leveraging AI advancements to enhance audio applications, including voice recognition and noise suppression. Its edge AI processor chips serve as a crucial link between audio and AI, providing low-power computing platforms for AI applications in IoT devices [2] Financial Forecast and Metrics - The company is projected to achieve revenues of 652 million yuan in 2024, with a growth rate of 25.34%, and is expected to reach 875 million yuan in 2025, 1,149 million yuan in 2026, and 1,493 million yuan in 2027. The net profit attributable to the parent company is forecasted to be 107 million yuan in 2024, growing to 163 million yuan in 2025, 231 million yuan in 2026, and 309 million yuan in 2027 [3][4] - The company's EBITDA is expected to grow from 80 million yuan in 2024 to 346 million yuan in 2027, indicating a strong upward trend in profitability [3] - The earnings per share (EPS) is projected to increase from 0.73 yuan in 2024 to 2.12 yuan in 2027, reflecting the company's robust growth potential [3] Product and Market Development - The company is deepening its focus on smart audio SoC technology, leading innovations in audio technology [5][8] - The company is expanding its market share in portable and home audio markets, particularly in wireless microphones and soundbars, with a gradual increase in market penetration [24][46] - The company is actively exploring the wireless microphone market, which is experiencing growth due to the rise of video streaming and content creation, with its products gaining popularity for their low power consumption and excellent noise reduction capabilities [50][51] R&D and Talent - The company is increasing its R&D investment, with a projected R&D expense rate of 33% in 2024, and total R&D expenditure expected to reach 215 million yuan, a year-on-year increase of 30.06% [22] - The company has optimized its R&D personnel structure, with 266 R&D staff accounting for 73.08% of the total workforce, focusing on high-performance and low-power technology innovations [22]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company specializes in wireless audio ICs, targeting high-end consumer and professional audio markets globally. Its main products include Bluetooth audio SoC chip series, portable audio and video SoC chip series, and smart voice interaction SoC chip series, which are widely used in Bluetooth speakers, headphones, smart education, and smart home applications. The company has become a mainstream supplier in the low-power wireless IoT field and is gradually achieving domestic substitution in related chip areas [2][14] - The company serves both international and domestic top-tier brands, including Harman, Sony, Bose, and Xiaomi, by providing differentiated chip combinations to meet diverse market demands, which has led to increased penetration in mainstream brands [2][14] - The company is continuously enhancing its product development and upgrades for 2.4G private communication protocols, which are widely applied in smart offices, smart homes, and industrial control. The latest products support high transmission power and improved wireless communication technology, showcasing strong wireless connection capabilities [2][14] - The company is leveraging AI advancements to enhance audio applications, with its edge AI processor chips providing low-power computing platforms for smart IoT applications, meeting the AI needs of low-power edge devices [2][14] Financial Projections and Indicators - The company forecasts revenue growth from 652 million in 2024 to 1,493 million by 2027, with a compound annual growth rate (CAGR) of approximately 29.87% [3] - The projected net profit attributable to the parent company is expected to grow from 107 million in 2024 to 309 million by 2027, reflecting a strong growth trajectory [3] - The company's EBITDA is projected to increase from 80 million in 2024 to 346 million by 2027, indicating robust operational performance [3] - The earnings per share (EPS) is expected to rise from 0.73 yuan in 2024 to 2.12 yuan by 2027, showcasing significant profitability improvement [3] Product and Market Development - The company is deepening its focus on smart audio SoC technology, leading innovations in audio technology [5][7] - The company is expanding its market presence in portable and home audio markets, with a gradual increase in market share for private protocol products like wireless microphones and soundbars [23][45] - The company is actively exploring the wireless microphone market, which is expanding due to the rise of video streaming and content creation, with its products gaining popularity for their low power consumption and excellent noise reduction capabilities [49][50]