11月25日，泰凌微涨5.14%，截至发稿，报43.14元/股，成交1.56亿元，换手率2.18%，总市值103.86亿 元。 资料显示，泰凌微电子(上海)股份有限公司位于中国(上海)自由贸易试验区盛夏路61弄1号电梯楼层10 层、11层(实际楼层9层、10层)，成立日期2010年6月30日，上市日期2023年8月25日，公司主营业务涉 及无线物联网系统级芯片的研发、设计及销售,专注于无线物联网芯片领域的前沿技术开发与突破。主 营业务收入构成为：IOT产品87.62%，音频产品12.15%，其他0.23%。 从基金十大重仓股角度 刘浒累计任职时间65天，现任基金资产总规模17.89亿元，任职期间最佳基金回报0.56%， 任职期间最 差基金回报-4.72%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 招商中证2000指数增强A（019918）成立日期2024年1月2日，最新规模5.73亿。今年以来收益41.49%， 同类排名513/4206；近一年 ...

Core Insights - The stock price of Tailin Micro has declined for six consecutive days, with a total drop of 9.57% during this period, currently trading at 45.34 CNY per share [1] - Tailin Micro focuses on the research, design, and sales of wireless IoT system-level chips, with 87.62% of its revenue coming from IoT products [1] Company Overview - Tailin Microelectronics (Shanghai) Co., Ltd. was established on June 30, 2010, and went public on August 25, 2023 [1] - The company is located in the Shanghai Free Trade Zone and specializes in cutting-edge technology development in the wireless IoT chip sector [1] Fund Holdings - Wan Jia Fund has a significant holding in Tailin Micro, with its Wan Jia Technology Quantitative Stock Mixed Fund A (020975) holding 12,800 shares, accounting for 1.96% of the fund's net value [2] - The fund has experienced a floating loss of approximately 61,400 CNY during the six-day decline [2] Fund Performance - The Wan Jia Technology Quantitative Stock Mixed Fund A has a total asset size of 23.99 million CNY and has achieved a year-to-date return of 40.61% [2] - The fund's manager, Yin Hang, has been in position for over five years, with the best return during this period being 67.72% [3]

Core Viewpoint - TaiLing Microelectronics has shown significant stock performance and financial growth since its IPO, indicating strong market interest and operational success [1][2]. Financial Performance - As of September 30, 2025, TaiLing Microelectronics reported a revenue of 766 million yuan, representing a year-on-year growth of 30.49% [2]. - The net profit attributable to shareholders reached 140 million yuan, with a remarkable year-on-year increase of 117.35% [2]. - The company has distributed a total of 65.87 million yuan in dividends since its A-share listing [3]. Stock Market Activity - On October 31, 2023, the stock price increased by 2.01% to 48.15 yuan per share, with a trading volume of 104 million yuan and a turnover rate of 1.30% [1]. - Year-to-date, the stock price has risen by 54.33%, although it has seen a decline of 2.85% over the last five trading days and 17.27% over the last 20 days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent net buy of 19.80 million yuan on June 25 [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased by 19.07% to 21,600, while the average circulating shares per person decreased by 14.80% to 7,815 shares [2]. - Among the top ten circulating shareholders, notable changes include a decrease in holdings by Jin Ying Technology Innovation Stock A and the entry of Hong Kong Central Clearing Limited as a new shareholder [3].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook on its performance and growth potential [10][15]. Core Insights - The company demonstrated robust revenue performance in Q3 2025, with a year-on-year revenue increase of 19.9% and a net profit growth of 27.8%. The gross margin exceeded expectations, reflecting strong operational capabilities [6][8]. - The report highlights the sustained high growth in the security and robotic vacuum cleaner segments, while the charging and energy storage business faced temporary disruptions due to recalls and high base effects from the previous year [7][8]. - The company is expected to benefit from product upgrades and a global supply chain strategy, which will help maintain stable profitability in the long term [8]. Financial Performance Summary - Revenue for Q3 2025 reached 81.5 billion yuan, with a gross margin of 44.6%. The net profit margin was 9.4%, showing a 0.6 percentage point increase year-on-year [6][8]. - The company’s revenue is projected to grow significantly over the next few years, with estimates of 31.17 billion yuan in 2025, 38.76 billion yuan in 2026, and 47.45 billion yuan in 2027, reflecting a compound annual growth rate of 26.1% [9][12]. - The earnings per share (EPS) are forecasted to increase from 4.97 yuan in 2025 to 7.59 yuan in 2027, indicating strong profitability growth [9][12]. Segment Performance - Domestic revenue grew by 22% and international revenue by 28% in the first three quarters of 2025. Online and offline sales increased by 25% and 34%, respectively [7]. - The report anticipates a recovery in the charging and energy storage business as the impact of recalls diminishes and new products are launched [7][8].

Core Viewpoint - The company reported a decline in both revenue and net profit for the first three quarters of the year, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters was 2.056 billion, a year-on-year decrease of 4.16% [1] - The net profit attributable to shareholders of the listed company was 300 million, down 11.35% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 282 million, reflecting a year-on-year decline of 13.44% [1]

Core Insights - The company reported a third-quarter revenue of 704 million yuan, representing a year-on-year decline of 8.14% [1] - The net profit for the third quarter was approximately 99.84 million yuan, down 15.57% year-on-year [1] - For the first three quarters, the total revenue was 2.056 billion yuan, reflecting a year-on-year decrease of 4.16% [1] - The net profit for the first three quarters amounted to 300 million yuan, which is a decline of 11.35% compared to the previous year [1]

Core Viewpoint - 泰凌微's stock price has shown significant volatility, with a year-to-date increase of 53.50% but a recent decline in the short term, indicating potential market fluctuations and investor sentiment shifts [2][3]. Company Overview - 泰凌微电子 (Shanghai) Co., Ltd. was established on June 30, 2010, and went public on August 25, 2023. The company specializes in the research, design, and sales of wireless IoT system-level chips, focusing on cutting-edge technology in the wireless IoT chip sector [2]. - The company's main revenue sources are IoT products (87.62%), audio products (12.15%), and other products (0.23%) [2]. Financial Performance - For the period from January to September 2025, 泰凌微 reported a revenue of 766 million yuan, representing a year-on-year growth of 30.49%. The net profit attributable to shareholders was 140 million yuan, showing a substantial increase of 117.35% [3]. - As of September 30, 2025, the company had a total of 21,600 shareholders, an increase of 19.07% from the previous period, while the average number of circulating shares per person decreased by 14.80% [3]. Stock Market Activity - 泰凌微's stock experienced a decline of 2.01% on October 29, 2025, with a trading volume of 165 million yuan and a turnover rate of 2.02%. The total market capitalization stood at 11.529 billion yuan [1]. - The company has appeared on the "龙虎榜" (a list of stocks with significant trading activity) twice this year, with the most recent appearance on June 25, where it recorded a net buy of 19.802 million yuan [2]. Shareholder Information - As of September 30, 2025, the top ten circulating shareholders included 金鹰科技创新股票A (001167) with a holding of 2.8383 million shares, which decreased by 383,100 shares compared to the previous period. 新进股东 香港中央结算有限公司 held 2.4413 million shares [4].

Core Insights - The 138th Canton Fair has seen a significant increase in international participation, with over 240,000 foreign buyers pre-registered, marking a 10% increase compared to previous events [1] - The fair serves as a crucial platform for high-end manufacturing companies in the Guangdong-Hong Kong-Macao Greater Bay Area to showcase their capabilities and expand into overseas markets [1] Group 1: Industry Trends - The demand for equipment from countries involved in the Belt and Road Initiative is strong, with companies leveraging technological advancements to navigate international market changes [2] - The export of industrial mother machines has been growing at an annual rate of 25%-30%, driven by the increasing demand for foundational processing equipment in developing countries [2] - Companies are expanding their market presence from Southeast Asia to a broader range of countries, with a balanced domestic and international sales strategy [2] Group 2: Company Innovations - Guangdong Xinquanli Laser Intelligent Equipment Co., Ltd. showcased a new 3D five-axis steel cutting machine, which significantly improves efficiency by 30%-40% compared to traditional methods [2] - Guangzhou Haiweite Technology has achieved triple-digit annual sales growth, with a focus on audio technology and a robust network of over 200 agents globally [3][4] - Guangdong Wolt Technology introduced a solar-powered security monitoring product designed for areas with weak infrastructure, achieving an 80% export ratio and a 40% annual growth rate [5] Group 3: Market Strategies - Companies are adopting diversified overseas channel strategies to capitalize on the opportunities presented by the global market [3] - Guangzhou Minshi Digital Technology is focusing on AI algorithms for safety equipment, with 95% of its revenue coming from overseas markets, highlighting the importance of adapting to local regulations [6][7] - The integration of local marketing strategies and product design based on regional insights is crucial for companies to penetrate new markets effectively [4][5]

Company Overview - 泰凌微电子 (TaiLing Microelectronics) is located in the China (Shanghai) Free Trade Zone and was established on June 30, 2010. The company went public on August 25, 2023. Its main business involves the research, design, and sales of wireless IoT system-level chips, focusing on cutting-edge technology in the wireless IoT chip sector [2]. - The revenue composition of 泰凌微 is as follows: 87.62% from IoT products, 12.15% from audio products, and 0.23% from other sources [2]. - As of June 30, 2025, the company had 18,100 shareholders, an increase of 7.60% from the previous period, with an average of 9,173 circulating shares per shareholder, a decrease of 6.65% [2]. Financial Performance - For the first half of 2025, 泰凌微 achieved a revenue of 503 million yuan, representing a year-on-year growth of 37.72%. The net profit attributable to the parent company was 101 million yuan, showing a significant increase of 274.58% year-on-year [2]. - Since its A-share listing, 泰凌微 has distributed a total of 65.87 million yuan in dividends [3]. Stock Market Activity - On October 17, 泰凌微's stock price decreased by 2.04%, closing at 50.35 yuan per share, with a trading volume of 95.88 million yuan and a turnover rate of 1.11%. The total market capitalization is 12.12 billion yuan [1]. - Year-to-date, 泰凌微's stock price has increased by 61.38%, but it has seen a decline of 12.87% over the last five trading days and a slight decrease of 1.95% over the last 20 days. In the last 60 days, the stock price has risen by 9.93% [1]. - The company has appeared on the "龙虎榜" (a list of stocks with significant trading activity) twice this year, with the most recent appearance on June 25, where it recorded a net purchase of 19.80 million yuan [1]. Institutional Holdings - As of June 30, 2025, among the top ten circulating shareholders of 泰凌微, 金鹰科技创新股票A (Golden Eagle Technology Innovation Fund) is the sixth largest shareholder with 3.22 million shares, an increase of 336,600 shares from the previous period. 信澳新能源产业股票A (Xin'ao New Energy Industry Fund) is the seventh largest shareholder, holding 2.47 million shares as a new investor [3].

Group 1 - The core point of the news is that TaiLing Microelectronics has experienced a slight decline in stock price, with a current trading price of 53.41 yuan per share and a total market capitalization of 12.858 billion yuan [1] - TaiLing Microelectronics specializes in the research, design, and sales of wireless IoT system-level chips, with 87.62% of its main business revenue coming from IoT products [1] - The company was established on June 30, 2010, and went public on August 25, 2023, indicating its recent entry into the stock market [1] Group 2 - Dongcai Fund has one fund heavily invested in TaiLing Microelectronics, specifically the Dongcai Huixin Preferred Mixed Initiation A (019113), which held 11,500 shares, accounting for 6.04% of the fund's net value [2] - The fund has reported a floating loss of approximately 34,000 yuan as of the latest update [2] - The fund was established on October 31, 2023, with a current scale of 8.8871 million yuan and has achieved a year-to-date return of 12.61% [2] Group 3 - The fund manager of Dongcai Huixin Preferred Mixed Initiation A is Luo Shen, who has been in the position for 246 days [3] - During his tenure, the fund's best return was 16.95%, while the worst return was -14.22% [3] - The total asset size of the fund is currently 30.0017 million yuan [3]