（编辑 姚尧） 证券日报网讯 1月8日，星宸科技在互动平台回答投资者提问时表示，公司专注端侧AI SoC芯片研发， 聚焦端侧推理与计算，依托自研NPU及"感知+计算+连接"一体化，提供适配不同端边侧智能硬件终端 的需求。公司暂不涉及GPU业务。 ...

芯东西12月3日报道，12月2日，国内智能驾驶芯片龙头黑芝麻智能发布公告，宣布拟以4亿元至5.5亿元，通过股权收购及注资方式收购广东珠海端侧AI芯 片公司亿智电子。 该收购预计于2026年第一季度完成，收购完成后黑芝麻智能将获得珠海亿智电子的多数股权。亿智电子作为非全资附属公司，财务业绩并入黑芝麻智能。 黑芝麻智能成立于2016年，主要提供车规级计算SoC及基于SoC的智能汽车解决方案，专注于大算力计算芯片与平台研发。 亿智电子成立于2016年，是以AI机器视觉算法和SoC芯片设计为核心的系统方案供应商，专注于边缘侧、端侧通用算力AI SoC芯片的研发，产品线涵盖智 能车载、智能硬件、智慧安防三大应用领域。 该公司已经形成SA、SH、SV三大系列边缘侧、端侧AI SoC芯片产品矩阵，覆盖边缘侧/端侧AI的多种应用场景。2019年亿智电子就量产发布了集成首代 自研NPU（神经网络处理器）的系统级AI芯片。2020年，亿智电子联合创始人兼COO吴浪曾透露，亿智电子已有超百万颗芯片量产落地。 | SA系列 SH系列 | SV系列 | | ω 首页 >产品中心 | | --- | --- | --- | --- | ...

Core Insights - Starry Technology reported a revenue of approximately 1.4 billion yuan for the first half of 2025, marking an 18.6% year-on-year increase, with the second quarter achieving 740 million yuan, a 12.4% year-on-year and 10.9% quarter-on-quarter growth, setting a historical high for both half-year and single-quarter revenue [2] - The company announced a cash acquisition of approximately 210 million yuan for a 53.3087% stake in Shanghai Furui Kun Microelectronics, which will become a subsidiary and be included in the consolidated financial statements, enhancing its strategic positioning in AI SoC chip design [2][5] - Furui Kun, established in 2014, specializes in Bluetooth chip design and has been recognized as a national-level "specialized and innovative" enterprise, boasting a comprehensive R&D capability across various domains [3] Financial Performance - Furui Kun achieved a revenue of approximately 58.75 million yuan in the first half of 2025, with a performance commitment to achieve a cumulative net profit of no less than 100 million yuan from 2026 to 2028 [2][3] Product and Market Position - Furui Kun's main products include dual-mode Bluetooth SoC chips and low-power Bluetooth MCU chips, serving various applications in consumer, industrial, and automotive sectors, with significant market presence and multiple certifications [4] - The acquisition will enhance Starry Technology's existing core IPs, allowing for a more integrated SoC platform that combines perception, computation, and connectivity capabilities [5] Strategic Implications - The acquisition represents a strategic complement between "intelligent computing" and "reliable connectivity," aiming to create a balanced competitive edge in performance, power consumption, and cost for edge AI SoC chips [5]

Investment Rating - The report maintains a "Buy" rating for the company, expecting its stock price to outperform the market benchmark by 5% to 15% over the next six months [4][11]. Core Insights - The company achieved a record high quarterly revenue of 1.403 billion yuan in the first half of 2025, representing an 18.63% year-on-year increase, while the net profit attributable to shareholders decreased by 7.47% to 120 million yuan [1]. - The growth engines for the company include its smart vehicle and smart IoT businesses, with significant advancements in the pre-installed market and strong performance in the smart robotics sector [2]. - The company is focusing on high-intensity R&D and strategic acquisitions to build long-term competitive advantages, particularly in the fields of 3D perception, mobile imaging, and advanced ADAS [3]. Financial Summary - The company forecasts revenues of 2.354 billion yuan for 2024, increasing to 4.265 billion yuan by 2027, with a compound annual growth rate of approximately 19.63% [3][9]. - The net profit attributable to shareholders is projected to grow from 256 million yuan in 2024 to 459 million yuan in 2027, reflecting a net profit growth rate of 30.33% [3][9]. - The earnings per share (EPS) is expected to rise from 0.62 yuan in 2024 to 1.09 yuan in 2027, indicating a positive trend in profitability [3][9].

Key Points - The article highlights recent trends in investment across various sectors, including new consumption, hard technology, and healthcare [2][3] - Significant funding rounds were reported, indicating a vibrant investment landscape [3] New Consumption - Suzhou Shidu Intelligent Technology Co., Ltd. completed seed round financing of several million yuan [5] - Shenzhen Xingcan Intelligent Robot Co., Ltd. secured angel round financing in the tens of millions of yuan [7] - Shenzhen Kangdu Wine Group completed A round financing of several million yuan [8] - Photon Leap completed angel round financing of several hundred million yuan [9] Hard Technology - Hefei Junlian Electronics completed nearly 100 million yuan in A round financing [14] - Anhui Xin Yi Hua Intelligent Machinery Co., Ltd. completed over 300 million yuan in B+ round financing [11] - Beijing Haibo Unmanned Ship Technology Co., Ltd. announced A round financing, marking its third round of financing in two years [12] - Hangzhou Xingchuan New Materials Technology Co., Ltd. completed B round financing of several hundred million yuan [13] Healthcare - Shanghai Sipurei Pharmaceutical Technology Co., Ltd. completed over 200 million yuan in angel round financing [33] - Tianchen Biopharmaceutical (Suzhou) Co., Ltd. announced over 200 million yuan in C round financing [29] - Hefei Guoyan Hanin Detection Technology Co., Ltd. completed A round financing of several million yuan [30] - Shanghai Qiyu Biotechnology Co., Ltd. completed C1 round financing of 100 million yuan [35]

Group 1 - The three major stock indices continued to rise, with the 500 Quality Growth Index showing a significant upward trend, gaining 1.07% as of 13:30 on May 29 [1] - In the electronic sector, nearly 100 listed companies have received broker research in May, making it the most researched sector, despite a recent market pullback [1] - Specific stocks such as Crystal Optoelectronics, Jingchen Co., and Kaiying Network saw gains of 2.39%, 2.30%, and 1.83% respectively, indicating positive investor sentiment [1] Group 2 - Tianfeng Securities forecasts that AI SoC chip companies will benefit from increased penetration of AI hardware, with optimistic growth outlooks following the release of AI glasses in June and July [2] - The ASIC sector is expected to show gradual revenue growth, supported by the entry of DeepSeek, while the CIS market is driven by rising demand from smart vehicles [2] - The storage sector anticipates an increase in contract prices for memory products in Q2, contributing to a sequential performance boost for companies [2]

Group 1 - A-shares experienced a broad pullback on May 15, with technology sectors such as computers, communications, and media leading the declines, while the popular semiconductor ETF (588170) fell over 1% [1] - Tianfeng Securities projects a continued optimistic growth trajectory for the global semiconductor market through 2025, with a notable recovery in certain end-user demands [1] - The report highlights the ongoing risks related to supply chain disruptions and the push for domestic substitution, suggesting a focus on design sectors like SoC, analog, and storage for Q2 performance [1] Group 2 - The semiconductor ETF (588170) tracks the Shanghai Stock Exchange's semiconductor materials and equipment theme index, encompassing hard-tech companies in the semiconductor equipment and materials sectors [2] - The semiconductor equipment and materials industry is identified as a crucial area for domestic substitution, characterized by low domestic production rates and high potential for domestic replacement, benefiting from the expansion of semiconductor demand driven by the AI revolution [2]