来源：新浪证券-红岸工作室 存储芯片+先进封装+OLED+芯片概念+人民币贬值受益 1、2025年10月14日公司，合肥新汇成微电子股份有限公司举办特定对象调研活动，向舟资本、兴全基 金、平安资管等多家机构投资者披露重磅布局：公司通过直接与间接投资相结合，拿下合肥鑫丰科技有 限公司（简称 "鑫丰科技"）27.5445% 股权，并与鑫丰科技股东华东科技（苏州）有限公司（简称 "华 东科技"）达成战略合作，共同拓展 3D DRAM 等存储芯片封测业务，瞄准 AI 基建时代下存储芯片的爆 发式需求。 2、据2023年2月投资者关系活动记录表： Chiplet先进封装技术是凸块制造、Fan-out、3D、SiP等高端先 进封装技术的集合，公司掌握的凸块制造技术是Chiplet的基础之一。在研发端，公司将以客户需求为导 向，基于凸块制造技术，纵向拓展技术边界，积极布局Fan-out、2.5D/3D、SiP等高端先进封装技术。 3、2024年7月3日公司投资者关系活动记录表：公司目前OLED客户主要包括联咏、瑞鼎、奕力、云英 谷、集创北方、芯颖、傲显、昇显微、晟合微等。 4、合肥新汇成微电子股份有限公司的主营业务是集成电 ...

11月14日，气派科技跌0.54%，成交额4313.89万元。两融数据显示，当日气派科技获融资买入额326.50 万元，融资偿还682.35万元，融资净买入-355.85万元。截至11月14日，气派科技融资融券余额合计 8488.64万元。 融资方面，气派科技当日融资买入326.50万元。当前融资余额8488.16万元，占流通市值的3.31%，融资 余额低于近一年20%分位水平，处于低位。 资料显示，气派科技股份有限公司位于广东省东莞市石排镇气派科技路气派大厦，成立日期2006年11月 7日，上市日期2021年6月23日，公司主营业务涉及集成电路的封装、测试。主营业务收入构成为：集成 电路封装测试87.52%，功率器件封装测试6.54%，其他5.20%，晶圆测试0.74%。 截至9月30日，气派科技股东户数7974.00，较上期增加20.84%；人均流通股13329股，较上期减少 17.24%。2025年1月-9月，气派科技实现营业收入5.31亿元，同比增长7.08%；归母净利润-7666.88万 元，同比减少25.89%。 分红方面，气派科技A股上市后累计派现5951.12万元。近三年，累计派现0.00元。 ...

来源：新浪证券-红岸工作室 11月14日，汇成股份跌5.13%，成交额4.51亿元，换手率3.59%，总市值123.72亿元。 异动分析 存储芯片+先进封装+OLED+芯片概念+人民币贬值受益 1、2025年10月14日公司，合肥新汇成微电子股份有限公司举办特定对象调研活动，向舟资本、兴全基 金、平安资管等多家机构投资者披露重磅布局：公司通过直接与间接投资相结合，拿下合肥鑫丰科技有 限公司（简称 "鑫丰科技"）27.5445% 股权，并与鑫丰科技股东华东科技（苏州）有限公司（简称 "华 东科技"）达成战略合作，共同拓展 3D DRAM 等存储芯片封测业务，瞄准 AI 基建时代下存储芯片的爆 发式需求。 2、据2023年2月投资者关系活动记录表： Chiplet先进封装技术是凸块制造、Fan-out、3D、SiP等高端先 进封装技术的集合，公司掌握的凸块制造技术是Chiplet的基础之一。在研发端，公司将以客户需求为导 向，基于凸块制造技术，纵向拓展技术边界，积极布局Fan-out、2.5D/3D、SiP等高端先进封装技术。 3、2024年7月3日公司投资者关系活动记录表：公司目前OLED客户主要包括联咏、瑞鼎 ...

来源：新浪证券-红岸工作室 11月13日，汇成股份涨0.46%，成交额4.12亿元，换手率3.15%，总市值130.41亿元。 异动分析 3、2024年7月3日公司投资者关系活动记录表：公司目前OLED客户主要包括联咏、瑞鼎、奕力、云英 谷、集创北方、芯颖、傲显、昇显微、晟合微等。 4、合肥新汇成微电子股份有限公司的主营业务是集成电路高端先进封装测试服务。公司的主要产品是 集成电路封装测试。 5、根据2024年年报，公司海外营收占比为54.15%，受益于人民币贬值。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 存储芯片+先进封装+OLED+芯片概念+人民币贬值受益 1、2025年10月14日公司，合肥新汇成微电子股份有限公司举办特定对象调研活动，向舟资本、兴全基 金、平安资管等多家机构投资者披露重磅布局：公司通过直接与间接投资相结合，拿下合肥鑫丰科技有 限公司（简称 "鑫丰科技"）27.5445% 股权，并与鑫丰科技股东华东科技（苏州）有限公司（简称 "华 东科技"）达成战略合作，共同拓展 3D DRAM 等存储芯片封测业务，瞄准 AI 基建时代下存储芯片的爆 发式需求。 ...

来源：新浪证券-红岸工作室 11月11日，汇成股份涨2.67%，成交额8.57亿元，换手率6.34%，总市值135.21亿元。 异动分析 存储芯片+先进封装+芯片概念+人民币贬值受益+专精特新 1、2025年10月14日公司，合肥新汇成微电子股份有限公司举办特定对象调研活动，向舟资本、兴全基 金、平安资管等多家机构投资者披露重磅布局：公司通过直接与间接投资相结合，拿下合肥鑫丰科技有 限公司（简称 "鑫丰科技"）27.5445% 股权，并与鑫丰科技股东华东科技（苏州）有限公司（简称 "华 东科技"）达成战略合作，共同拓展 3D DRAM 等存储芯片封测业务，瞄准 AI 基建时代下存储芯片的爆 发式需求。 2、据2023年2月投资者关系活动记录表： Chiplet先进封装技术是凸块制造、Fan-out、3D、SiP等高端先 进封装技术的集合，公司掌握的凸块制造技术是Chiplet的基础之一。在研发端，公司将以客户需求为导 向，基于凸块制造技术，纵向拓展技术边界，积极布局Fan-out、2.5D/3D、SiP等高端先进封装技术。 3、合肥新汇成微电子股份有限公司的主营业务是集成电路高端先进封装测试服务。公司的主要产 ...

Core Viewpoint - ST Zhongdi has experienced a continuous stock price surge despite being a loss-making real estate company, raising speculation about a potential change in control following a recent share auction [3][4]. Group 1: Company Performance - ST Zhongdi reported a revenue of 135 million yuan for the first three quarters of the year, a decrease of 52.64% year-on-year [4]. - The net profit attributable to shareholders was -151 million yuan, down 42.08% year-on-year [4]. - In the third quarter alone, ST Zhongdi's revenue was only 808,400 yuan [4]. Group 2: Share Auction and Control Change - The controlling shareholder's 23.77% stake was auctioned for 255 million yuan, with Shenzhen Tianwei Investment winning the bid [4][5]. - The auction was the second attempt, with the initial auction in September failing to attract bids at a starting price of 319 million yuan [5]. - The share transfer has not yet been completed, meaning Shenzhen Tianwei is not yet the controlling shareholder [6]. Group 3: Buyer Background - Shenzhen Tianwei was established just over three months ago, with its ownership split between two individuals, both linked to Shenzhen Tianwei Electronics [7]. - Shenzhen Tianwei Electronics is a well-known player in the semiconductor industry, indicating potential strategic interests in ST Zhongdi [8]. Group 4: Future Prospects - The auction of shares was necessitated by a 750 million yuan loan taken by ST Zhongdi's subsidiary, for which the controlling shareholder provided a guarantee [10]. - ST Zhongdi has indicated plans to develop new business areas, focusing on projects with appropriate scale and industry relevance [11].

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5] Core Views - The company reported a significant increase in net profit attributable to shareholders, with a year-on-year growth of 135.4% in Q3 2025, driven by revenue growth and other factors [1] - The acquisition of Huayi Microelectronics is expected to enhance the company's business chain and expand its power device packaging and testing capabilities, creating a second growth curve [2] - The establishment of an industrial fund aims to synergize the semiconductor industry chain, which aligns with the company's strategic development [3] - The semiconductor industry is currently in an upward cycle, and the packaging and testing sector is experiencing a recovery in demand [3] Financial Performance Summary - For Q1-Q3 2025, the company achieved revenue of 123.80 billion yuan, a year-on-year increase of 17.55%, and a net profit of 5.43 billion yuan, up 51.98% year-on-year [1] - The company expects to generate revenues of 176.43 billion yuan, 213.48 billion yuan, and 258.31 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits of 9.54 billion yuan, 12.74 billion yuan, and 16.07 billion yuan [3] - The company’s total assets for Huayi Microelectronics are approximately 2.4 billion yuan, with an expected profit of over 30 million yuan in Q3 2025, reflecting an 80% quarter-on-quarter growth [2] Financial Data and Valuation - The company’s projected revenue growth rates are 22% for 2025, 21% for 2026, and 21% for 2027 [4] - The estimated net profit for 2025 is 953.91 million yuan, with a growth rate of 54.79% [4] - The company’s earnings per share (EPS) is projected to be 0.29 yuan in 2025, increasing to 0.49 yuan by 2027 [4]

Core Viewpoint - The company, Hefei Xinhui Microelectronics Co., Ltd., is strategically investing in the storage chip and advanced packaging sectors to capitalize on the growing demand driven by AI infrastructure [2][3]. Group 1: Company Overview - Hefei Xinhui Microelectronics Co., Ltd. specializes in high-end integrated circuit packaging and testing services, with its main products being integrated circuit packaging tests [3]. - The company was established on December 18, 2015, and went public on August 18, 2022. Its primary business involves gold bumping, wafer testing, and various packaging processes, contributing to a comprehensive service capability for display driver chips [8]. Group 2: Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.295 billion yuan, representing a year-on-year growth of 21.05%, and a net profit attributable to shareholders of 124 million yuan, with a year-on-year increase of 23.21% [9]. - As of September 30, 2025, the company had a total of 23,500 shareholders, an increase of 15.93% from the previous period, with an average of 36,445 circulating shares per person, up by 27.82% [9]. Group 3: Strategic Investments - The company has acquired a 27.5445% stake in Hefei Xinfeng Technology Co., Ltd. and has formed a strategic partnership with East China Technology (Suzhou) Co., Ltd. to expand into 3D DRAM and other storage chip packaging businesses [2]. - The company is focusing on advanced packaging technologies, including Chiplet, Fan-out, 2.5D/3D, and SiP, to meet customer demands and enhance its technological capabilities [2]. Group 4: Market Position and Trends - The company benefits from a significant overseas revenue share of 54.15%, largely due to the depreciation of the Chinese yuan [4]. - The main customers for the company's OLED products include several notable firms, indicating a strong market presence in the OLED sector [2].

Core Viewpoint - The company, Hefei Xinhui Microelectronics Co., Ltd., is strategically expanding its business in the semiconductor industry, particularly in advanced packaging and storage chip sectors, to capitalize on the growing demand driven by AI infrastructure [2][3]. Group 1: Company Developments - On October 14, 2025, the company announced a significant investment by acquiring a 27.5445% stake in Hefei Xinfeng Technology Co., Ltd., and forming a strategic partnership with East China Technology (Suzhou) Co., Ltd. to expand into 3D DRAM and other storage chip packaging services [2]. - The company is focusing on advanced packaging technologies, including Chiplet, Fan-out, 3D, and SiP, leveraging its expertise in bump manufacturing as a foundational technology [2]. - As of September 30, 2025, the company reported a revenue of 1.295 billion yuan, marking a year-on-year growth of 21.05%, and a net profit of 124 million yuan, with a growth of 23.21% [9]. Group 2: Market Position and Financials - The company has a significant international presence, with overseas revenue accounting for 54.15% of total revenue, benefiting from the depreciation of the Chinese yuan [4]. - The main business of the company is integrated circuit advanced packaging and testing services, with display driver chip packaging accounting for 90.25% of its revenue [3][8]. - As of September 30, 2025, the number of shareholders increased to 23,500, with an average of 36,445 shares held per shareholder, indicating growing investor interest [9].

Group 1 - The core point of the article is that Qipai Technology (SH 688216) held its fourth meeting of the fifth board of directors on October 30, 2025, via telecommunication voting, where it reviewed the proposal for the third quarter report of 2025 [1] - For the year 2024, the revenue composition of Qipai Technology is as follows: integrated circuit packaging and testing accounts for 89.57%, other businesses account for 5.94%, power device packaging and testing accounts for 4.03%, and wafer testing accounts for 0.46% [1] - As of the time of reporting, Qipai Technology has a market capitalization of 2.6 billion yuan [1]