格隆汇8月26日｜有投资者在互动平台向芯朋微提问：公司开发的电源芯片是否应用于算力服务器中？ 公司开发的芯片是否可以降低应用产品的热量产生？ 芯朋微回应称，公司的高耐压高可靠AC-DC产品在大多数工业客户取得大面积突破和量产，其中包括 服务器客户。同时，公司推出的适用于服务器和通信设备的12/20相数字控制器及70A DrMOS套片、 48V输入数模混合高集成电源芯片系列、超大电流EFUSE芯片等产品已陆续进入试产和量产。公司开发 的部分电源和驱动芯片应用于散热系统。 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 74.7 CNY per share [2][7]. Core Views - The company has demonstrated high growth in its performance for the first half of 2025, with significant progress in new product development. The revenue for 2025H1 reached 636 million CNY, representing a year-on-year increase of 40.32%, while the net profit attributable to the parent company was 90 million CNY, up 106.02% year-on-year [7][8]. - The company is benefiting from a recovery in demand within the analog chip industry, following a prolonged inventory destocking phase. This recovery is supported by innovations in downstream applications, particularly in AI terminals, electric vehicles, and data centers [7][8]. - The company maintains a high level of R&D investment, with R&D expenses reaching 125 million CNY in 2025H1, accounting for 19.69% of revenue. This investment is yielding results in emerging fields such as industrial applications and AI computing [7][8]. Financial Summary - Total revenue projections for the company are as follows: 965 million CNY in 2024, 1,205 million CNY in 2025, 1,459 million CNY in 2026, and 1,759 million CNY in 2027, with corresponding year-on-year growth rates of 23.6%, 24.9%, 21.1%, and 20.6% respectively [3][8]. - The net profit attributable to the parent company is forecasted to be 111 million CNY in 2024, 164 million CNY in 2025, 224 million CNY in 2026, and 294 million CNY in 2027, with growth rates of 87.2%, 46.9%, 36.9%, and 31.4% respectively [3][8]. - The earnings per share (EPS) are projected to be 0.85 CNY in 2024, 1.25 CNY in 2025, 1.70 CNY in 2026, and 2.24 CNY in 2027 [3][8].

无锡芯朋微电子股份有限公司 关于 2025 年度"提质增效重回报"行动方案的 半年度评估报告 为贯彻落实关于开展科创板上市公司"提质增效重回报"专项行动的倡议， 提出落实以投资者为本的理念，推动上市公司持续优化经营、规范治理和积极回 报投资者，大力提高上市公司质量，助力信心提振、资本市场稳定和经济高质量 发展的精神，无锡芯朋微电子股份有限公司（以下简称"公司"）于 2025 年 3 月 29 日发布了《2025 年度提质增效重回报行动方案》 （以下简称"行动方案"）， 为公司 2025 年度提质增效重回报行动制定出明确的工作方向，现将行动方案进 展半年度评估情况报告如下： 三、 持续加强募投项目管理，提升科技创新能力 源及电驱功率芯片研发及产业化项目"、 "工业级数字电源管理芯片及配套功率芯 片研发及产业化项目"和苏州研发中心的建设、实施。 近三年来公司重点投入研发的工业应用领域，随着拳头产品"高耐压高可靠 AC-DC"在大多数工业客户取得大面积突破和量产，公司跟进推出适用于服务 器和通信设备的 48V 输入数模混合高集成电源芯片系列和内置算法的数模混合 电机驱动芯片、超大电流 EFUSE 芯片、超大功率理想 ...

Performance Forecast - The company expects a significant increase in operating performance for the first half of 2025, with an estimated revenue increase of approximately 176 million yuan, representing a year-on-year growth of around 38% [1] - The net profit attributable to the parent company is projected to increase by approximately 46 million yuan, reflecting a year-on-year growth of about 104% [1] - The estimated net profit is around 70 million yuan, which is an increase of approximately 24 million yuan compared to the same period last year, indicating a year-on-year growth of about 53% [1] Previous Year Performance - The previous year's operating revenue was 453.28 million yuan [1] - The total profit was 35.77 million yuan, with a net profit attributable to the parent company of 43.92 million yuan [1] - The earnings per share for the previous year were 0.34 yuan [1] Reasons for Performance Change - The expected increase in performance is primarily driven by significant growth in new product categories, particularly in the "power system overall solution" strategy, with non-AC-DC product revenue expected to increase by over 70%, significantly outpacing the 26% growth in AC-DC products [1] - The company has made substantial progress in expanding into new markets, particularly in the industrial application sector, with anticipated revenue growth of over 55% in this area, which is higher than the overall revenue growth rate of approximately 38% [2]