Financial Performance - In the first half of 2025, the company's revenue reached approximately 1.4 billion yuan, representing a year-on-year growth of 18.63% [2][3] - The net profit attributable to shareholders decreased by 7.47% to approximately 120 million yuan compared to the same period last year [2][3] - The net profit after deducting non-recurring gains and losses fell by 15.95% to about 95.6 million yuan [2][3] - The company's total assets increased by 3.05% to approximately 4.43 billion yuan, while the net assets attributable to shareholders grew by 1.96% to around 3.03 billion yuan [2][3] Business Segments Smart Security - Smart security is the largest business line, accounting for about 65.66% of the company's main business in the first half of 2025, with revenue of approximately 909 million yuan, a year-on-year increase of about 12% [4] - The consumer security and overseas markets are gradually increasing their share, with strong growth in emerging markets such as Southeast Asia, the Middle East, Africa, and Latin America [4] Smart IoT - Smart IoT is the second-largest business line, representing about 23.44% of the main business, with revenue of approximately 32.5 million yuan, reflecting a year-on-year growth of about 31.79% [5] - The growth is driven by the rapid development of smart robots, which have become a new growth engine for this segment [5] Smart Automotive - Smart automotive is the third-largest business line, accounting for approximately 10.9% of the main business, with revenue of about 15.1 million yuan, a year-on-year increase of approximately 45.43% [6] - The company is actively expanding its market presence from aftermarket to OEM, with significant growth in demand for automotive-grade chips [6]

Core Viewpoint - The report highlights the financial performance and strategic positioning of Xingchen Technology Co., Ltd. in the AI SoC chip industry, emphasizing growth in revenue and the company's focus on innovation and market expansion [1][6][7]. Financial Performance - The company reported a revenue of approximately 1.40 billion yuan for the first half of 2025, representing an 18.63% increase compared to the same period in 2024 [6]. - The net profit attributable to shareholders decreased by 15.95% to approximately 95.63 million yuan [6]. - The basic earnings per share fell by 12.50% to 0.28 yuan [6]. Business Segments - The main business lines include: - **Smart Security**: Contributed about 65.66% to total revenue, with a revenue of approximately 909 million yuan, growing by 12% [8][12]. - **Smart IoT**: Accounted for approximately 23.44% of revenue, with a significant growth of 31.79% to about 325 million yuan, driven by the rise of smart robotics [8][12]. - **Smart Automotive**: Made up about 10.9% of revenue, achieving a 45.43% increase to approximately 151 million yuan, benefiting from the growing demand for automotive-grade chips [9][12]. Industry Positioning - The company is positioned in the "new generation information technology industry," focusing on AI SoC chip design, which is a key area of national strategic development [7]. - The industry is experiencing significant technological evolution, with trends such as AI-ISP technology and low-power design becoming critical for product competitiveness [7]. Research and Development - The company invested approximately 316.86 million yuan in R&D, accounting for 22.58% of its revenue, focusing on low-power automotive chips and high-performance laser radar SoC chips [17]. - The R&D team consists of 615 members, with a high proportion holding master's degrees or above [17]. Competitive Advantages - The company possesses a robust portfolio of core IP resources, including image signal processing and AI processors, which are continuously optimized for various applications [13]. - A diversified product ecosystem is established, covering smart security, smart IoT, and smart automotive sectors, positioning the company as one of the most comprehensive product line providers in the domestic market [13]. Market Outlook - The rapid development of AI, 5G, and IoT is expected to drive significant demand for edge AI SoC chips, providing ample growth opportunities for the company [12][18].

证券简称：星宸科技 证券代码：301536 星宸科技股份有限公司 （草案） 星宸科技股份有限公司 二〇二五年八月 声 明 本公司及董事会、监事会全体成员保证本激励计划及其摘要的内容真实、准确、完整， 没有任何虚假记载、误导性陈述或者重大遗漏。 本公司所有激励对象承诺，如公司因本激励计划有关的信息披露文件中有虚假记载、 误导性陈述或者重大遗漏，导致不符合授予权益或归属权益安排的，激励对象应当自相关 信息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激励计划所获得 的全部利益返还公司。 特别提示 一、《星宸科技股份有限公司2025年限制性股票激励计划（草案）》（以下简称"本 激励计划"）系星宸科技股份有限公司（以下简称"公司"）依据《中华人民共和国公司法》 《中华人民共和国证券法》《深圳证券交易所创业板股票上市规则》《上市公司股权激励 管理办法》《深圳证券交易所创业板上市公司自律监管指南第1号——业务办理》和其他 有关法律、法规、规范性文件以及《公司章程》制订。 二、本激励计划采取的激励工具为限制性股票（第二类限制性股票）。股票来源为公 司向激励对象定向发行公司A股普通股股票和/或公司回购专用账户回 ...