机构持仓方面，截止2025年6月30日，盛景微十大流通股东中，中信保诚多策略混合(LOF)A（165531） 位居第五大流通股东，持股66.06万股，为新进股东。大成中证360互联网+指数A（002236）位居第八 大流通股东，持股41.77万股，为新进股东。 责任编辑：小浪快报 资料显示，无锡盛景微电子股份有限公司位于江苏省无锡市新吴区景贤路6号中国物联网国际创新园 H7，成立日期2016年4月8日，上市日期2024年1月24日，公司主营业务涉及公司是一家具备高性能、超 低功耗芯片设计能力的电子器件提供商。主营业务收入构成为：电子控制模块80.16%，放大器7.24%， 其他5.03%，其他(补充)3.91%，起爆控制器3.66%。 截至9月20日，盛景微股东户数1.56万，较上期减少12.08%；人均流通股4087股，较上期增加13.74%。 2025年1月-6月，盛景微实现营业收入2.35亿元，同比增长2.40%；归母净利润1437.78万元，同比增长 57.66%。 分红方面，盛景微A股上市后累计派现5033.35万元。 9月24日，盛景微涨2.74%，成交额1.80亿元。两融数据显示，当日盛景微获融 ...

Group 1 - The core viewpoint of the news is that Shengjing Microelectronics has experienced fluctuations in its stock price and trading activity, with a recent decline of 2.02% and a total market capitalization of 4.102 billion yuan [1] - As of September 18, the stock price is reported at 40.75 yuan per share, with a trading volume of 1.25 billion yuan and a turnover rate of 4.72% [1] - Year-to-date, the stock has increased by 9.28%, with a 2.70% rise over the last five trading days, a 2.98% decline over the last 20 days, and a 9.13% increase over the last 60 days [1] Group 2 - Shengjing Microelectronics, established on April 8, 2016, is located in Wuxi, Jiangsu Province, and specializes in high-performance, ultra-low power chip design [2] - The company's main business revenue composition includes electronic control modules (80.16%), amplifiers (7.24%), and other categories [2] - As of August 10, the number of shareholders has increased by 4.80% to 17,700, with an average of 3,594 circulating shares per shareholder, a decrease of 4.58% [2] Group 3 - As of June 30, 2025, Shengjing Microelectronics has distributed a total of 50.335 million yuan in dividends since its A-share listing [3] - Among the top ten circulating shareholders, CITIC Prudential Multi-Strategy Mixed Fund (LOF) A is the fifth largest with 660,600 shares, while Dacheng CSI 360 Internet + Index A is the eighth largest with 417,700 shares, both being new shareholders [3]

Group 1 - The core viewpoint of the news is that Shengjing Microelectronics has shown a positive stock performance with a 5.90% increase year-to-date and a recent rise of 2.01% on September 11, 2023, indicating investor interest and market activity [1] - As of September 11, 2023, Shengjing Microelectronics' stock price is reported at 39.49 CNY per share, with a total market capitalization of 3.975 billion CNY [1] - The company has experienced a net inflow of 14.39 thousand CNY from main funds, with significant buying and selling activity from large orders, indicating active trading [1] Group 2 - Shengjing Microelectronics, established on April 8, 2016, is located in Wuxi, Jiangsu Province, and specializes in high-performance, ultra-low power chip design [2] - The company's main business revenue composition includes electronic control modules (80.16%), amplifiers (7.24%), and other products [2] - For the first half of 2025, Shengjing Microelectronics reported a revenue of 235 million CNY, a year-on-year increase of 2.40%, and a net profit of 14.38 million CNY, reflecting a significant growth of 57.66% [2] Group 3 - Since its A-share listing, Shengjing Microelectronics has distributed a total of 50.33 million CNY in dividends [3] - As of June 30, 2025, notable institutional shareholders include CITIC Prudential Multi-Strategy Mixed Fund and Dacheng CSI 360 Internet + Index Fund, both of which are new shareholders [3]

Group 1 - The core viewpoint of the news is that Shengjing Micro has shown a positive stock performance with a year-to-date increase of 14.88% and a recent rise in trading volume and market capitalization [1][2] - As of August 22, Shengjing Micro's stock price was 42.84 yuan per share, with a total market capitalization of 4.313 billion yuan [1] - The company has experienced a net inflow of main funds amounting to 2.6 million yuan, indicating strong investor interest [1] Group 2 - Shengjing Micro, established on April 8, 2016, specializes in high-performance, ultra-low power chip design, with its main business revenue composition being 80.16% from electronic control modules [2] - The company is categorized under the semiconductor industry, specifically in analog chip design, and is involved in various concept sectors including electronic skin and oil exploration [2] - As of August 10, the number of shareholders increased by 4.80% to 17,700, with an average of 3,594 circulating shares per person, a decrease of 4.58% [2] Group 3 - Since its A-share listing, Shengjing Micro has distributed a total of 50.335 million yuan in dividends [3] - As of June 30, 2025, notable institutional shareholders include CITIC Prudential Multi-Strategy Mixed Fund and Great Wall CSI 360 Internet + Index Fund, both of which are new shareholders [3]

Group 1 - The Yarlung Tsangpo River downstream hydropower project has a total investment of 1.2 trillion yuan, setting a record for the largest hydropower station globally [1] - Following the announcement, stocks related to the Yarlung Tsangpo hydropower concept surged in the A-share market, with companies like China Power Construction and Shengjing Microelectronics hitting the daily limit [1] - Shengjing Microelectronics' stock price showed a significant increase during the pre-market trading phase, driven by expectations of heightened demand for electronic detonators due to the complex tunnel excavation required for the project [1] Group 2 - Shengjing Microelectronics expects a net profit of 11.7 million to 17.5 million yuan for the first half of 2025, representing an increase of 2.58 million to 8.38 million yuan year-on-year, with a growth rate of 28.29% to 91.89% [1] - The company attributes its performance growth to its core technological advantages and flexible marketing strategies, leading to a year-on-year increase in sales of electronic control modules [2] - Shengjing Microelectronics has a strong technical foundation in microsecond-level precision control and extreme environment applications, making it one of the few companies capable of independent chip design and product iteration in the industry [2] Group 3 - The company's electronic control modules and detonator controllers are critical components of electronic detonator systems, primarily used in infrastructure and mining sectors [2] - Shengjing Microelectronics has developed specialized products for seismic exploration and oil perforation, becoming a core supplier for major companies like PetroChina and Sinopec, with annual sales reaching tens of millions and significantly higher profit margins compared to traditional explosives [2]

Core Viewpoint - The company is transitioning from incremental growth to focusing on existing market opportunities, with a projected revenue of 504 million yuan for 2024, while maintaining a strong commitment to R&D investment [1][3] Group 1: Financial Performance - In 2024, the company expects to achieve a revenue of 504 million yuan, with R&D investment reaching 89 million yuan, a year-on-year increase of 15.24% [1] - In Q1 2025, the company has turned a profit, with revenue remaining stable compared to the same period last year, and net profit showing improvement [1] - The management anticipates that as the competitive landscape evolves, product prices will gradually return to rational levels, which will help restore gross margin levels [1] Group 2: Business Development - The company leverages its "chip design + control module + system integration" R&D platform to maintain its advantage in high-precision control and extreme environment applications [1] - In the oil service sector, the company has developed specialized products for geological exploration and high-temperature, high-pressure applications, becoming a core supplier for major oil companies [1] - The company is focusing on high-end precision analog chips through its subsidiary, with expectations for growth in this segment and an emphasis on domestic substitution opportunities [2] Group 3: Market Expansion - The company is expanding its overseas market presence with a "detonator + explosives + blasting services" model, targeting regions such as the Middle East, Central Asia, and Southeast Asia [2] - The management is exploring investment or acquisition opportunities in high-potential areas that align with their technology capabilities to enhance global presence [2] - The core products, including electronic control modules and detonation controllers, play a crucial role in the domestic market, particularly in infrastructure and mining sectors, with future demand expected to increase due to national strategic initiatives [2]

Core Viewpoint - The company, Wuxi Shengjing Microelectronics Co., Ltd., reported a significant decline in its 2024 performance due to multiple factors including shrinking demand in the civil blasting industry, oversupply of electronic detonators, and intensified price competition, leading to an 88.24% drop in net profit [1][4][8] Group 1: Performance Decline - The company's main product, electronic control modules, saw a sales volume decrease of 18.37% and an average price drop of 28.42% in 2024 [1][5] - The overall revenue for 2024 fell by 38.70% compared to the previous year, with a net profit decline of 88.24% [4][8] - The gross margin for the company decreased from 44.11% in 2023 to 35.28% in 2024, primarily due to increased competition and price pressures [5][6] Group 2: Market Dynamics - The production of industrial detonators in China decreased from 7.24 billion units in 2023 to 6.72 billion units in 2024, a decline of 7.18% [2] - The number of competitors in the electronic control module market has increased to over 40, intensifying price competition [2][3] - Major clients have shifted to other suppliers, further eroding the company's market share [2][3] Group 3: Cost Structure and R&D - The company increased its R&D expenses by 15.24% in 2024, totaling approximately 89.45 million yuan, due to more projects and personnel [7] - Selling expenses rose by 33.53% as the company intensified its marketing efforts in response to market changes [6][8] - The subsidiary, Shanghai Xianji, reported a net loss of approximately 41.51 million yuan in 2024, exacerbating the overall financial decline [7] Group 4: Early 2025 Performance - In Q1 2025, the company reported a revenue of 88.01 million yuan, a slight decrease of 0.7%, but achieved a net profit of 4.17 million yuan, marking a turnaround from a loss in the previous year [9] - The sales volume of electronic control modules increased by 16.43% in Q1 2025, indicating a potential recovery [9] - The company continues to expand its product offerings in high-tech areas, including modules for seismic exploration and oil and gas wells [9]

Core Viewpoint - The company, Wuxi Shengjing Microelectronics Co., Ltd., has experienced significant fluctuations in its performance since its listing in January 2024, with a notable decline in revenue and profit margins attributed to market competition and changing customer procurement strategies [1][5][21]. Financial Performance - In 2023, the company achieved a revenue of 823 million yuan, which dropped to 504 million yuan in 2024, reflecting a year-on-year change of 6.71% and -38.70% respectively [1]. - The cash received from sales relative to revenue (cash collection ratio) was 38% in 2024, slightly up from 36% in 2023 [15]. - The net profit attributable to the parent company fell from 180 million yuan in 2023 to 10 million yuan in 2024, with a year-on-year change of 4.16% and -94.44% respectively [1]. Customer Dynamics - The top five customers remained relatively stable, with North Special Energy Group being the largest customer in both 2023 and 2024, contributing sales of 182 million yuan and 106 million yuan respectively [2][3]. - The company faced a decline in sales volume of electronic control modules by 29.42% due to customers switching to lower-priced products and introducing alternative suppliers [4][6]. Market Trends - The overall production of electronic detonators in China decreased by 5.02% in 2024, impacting the demand for the company's main products [5][12]. - The market for electronic control modules has become increasingly competitive, with over 40 domestic competitors emerging, leading to price reductions and a decline in market share from 40.41% in 2022 to 21.98% in 2024 [10][12][13]. Operational Challenges - The company reported a significant drop in the average selling price of electronic control modules by 28.42% in 2024, contributing to a decrease in gross profit margins [19]. - The cash flow from operating activities turned negative, with a net cash flow of -10.68 million yuan in 2024, primarily due to reduced sales and extended payment cycles from customers [18][21]. Strategic Adjustments - The company has increased its focus on research and development, with R&D expenses rising by 15.24% in 2024 to support product innovation and meet evolving customer demands [20]. - The shift in customer procurement strategies, including the introduction of secondary and tertiary suppliers, has pressured the company's market position and necessitated adjustments in pricing and product offerings [13][21].

Core Viewpoint - The company, Shengjing Microelectronics, is facing challenges in the civil blasting industry due to a decline in demand, leading to a decrease in sales of its main product, electronic control modules, by 18.37% year-on-year. However, the company maintains a leading position in the market and continues to invest in research and development to adapt to changing market conditions and regulatory requirements [4][8][16]. Company Overview - Shengjing Microelectronics primarily operates in the electronic control module sector, which is essential for electronic detonators used in civil blasting applications across various industries such as mining, metallurgy, and construction [4]. - The company has a significant market share in the electronic control module segment, with a market share of 21.98% in 2024, although this represents a decline from previous years [7]. Industry Situation - The civil blasting industry is experiencing a downward trend, with the total production of industrial detonators decreasing by 7.18% year-on-year, impacting the sales of electronic control modules [4]. - Government policies are increasingly promoting the use of electronic detonators for safety reasons, with several initiatives aimed at upgrading the industry towards higher safety and efficiency standards [5][6]. Financial Performance - For the fiscal year 2024, the company plans to distribute a cash dividend of 0.10 RMB per share, amounting to a total of approximately 10.07 million RMB, which represents a cash dividend payout ratio of 43.94% of the net profit attributable to shareholders [3][84][86]. - The company reported total assets of approximately 1.71 billion RMB and operating revenue of about 504 million RMB for the year [16]. Research and Development - The company emphasizes research and development as a core aspect of its operations, focusing on enhancing the safety and reliability of its products while also expanding its technology applications [9][10]. - Continuous investment in R&D has led to the development of new products tailored to meet the evolving demands of the market, including high-value products for seismic exploration and oil and gas applications [16][97]. Sales and Marketing Strategy - The company employs a direct sales model for its products, primarily targeting well-known domestic civil blasting enterprises, which helps streamline the sales process and improve customer service [14][16]. - The company is actively enhancing its market strategies to retain existing customers and attract new ones amid increasing competition in the electronic detonator market [8][16].

无锡盛景微电子股份有限公司 Wuxi Holyview Microelectronics Co.,Ltd. 招股说明书 （申报稿） 说明书不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正 式公告的招股说明书作为投资决定的依据。 （上海市静安区新闸路 1508 号） 1-1-1 （住所：无锡市新吴区景贤路 6 号中国物联网国际创新园 H7） 首次公开发行股票并在主板上市 本公司的发行申请尚需经上海证券交易所和中国证监会履行相应程序。本招股 保荐人（主承销商） 无锡盛景微电子股份有限公司 招股说明书（申报稿） 声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行 人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担 股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 1-1-1 无锡盛景微电子股份有限 ...