在新能源板块，传艺科技钠离子电池业务取得实质性进展。公司不仅持续研发圆柱型、方型钠离子电 芯，还自建PACK产线，推出适用于电动二轮车的钠电池系统产品，进一步丰富产品矩阵。 报告指出，钠离子电池在安全性、环保性和高低温性能等方面优于传统锂电池，尤其在二轮车市场具备 替代潜力。公司通过建立直营店、招募经销商以及与整车厂合作等方式积极推动钠电池在电动二轮车领 域的应用。2025年6月，公司在高邮设立首家钠电池直营店，标志着其市场化步伐进一步加快。 现金流大幅改善，研发投入保持高位 值得注意的是，公司经营活动产生的现金流量净额同比大幅增长410.47%，达到1.52亿元，主要得益于 销售收入回款增加以及钠电池项目采购支出减少，显示出良好的营运资金管理能力。 尽管研发投入同比有所下降，但公司仍在笔记本键盘、平板皮套键盘，以及钠离子电池材料体系等方面 持续投入，巩固技术护城河。 8月26日晚间，江苏传艺科技（002866）股份有限公司（股票代码：002866.SZ）正式发布2025年半年度 报告。报告显示，公司上半年实现营业收入10.07亿元，同比增长13.33%；归属于上市公司股东的净利 润4215.57万元，同比增 ...

值得一提的是，近日壹连科技全资子公司宁德壹连电子有限公司举行了开园仪式，不仅产能规模跃升， 技术研发、智能化生产、绿色制造也实现全方位升级。 壹连科技方面称，未来公司将以全新落成的生产基地为重要战略支点，充分发挥其地理区位优势，进一 步提升服务核心客户的多维能力，构建更为高效、紧密的配套服务体系，全面夯实市场竞争力，以期实 现互利共赢的长期发展目标。 2025年上半年，壹连科技主营产品电芯连接组件实现营业收入12.16亿元，同比增长20.26%。乘新能源 汽车高速增长与储能规模扩大之风，电连接组件赛道迎来黄金发展期。 （编辑 丛可心 张明富） 同时，公司不断突破电连接零部件技术壁垒，加快实现部分零部件自制进程，向上整合产业链条，全力 推进FPC（柔性线路板）生产一贯化，为产品制造注入了创新动力，深度构筑技术护城河，保障供应链 自主安全，全面提升公司的市场竞争力与成本优势。 本报讯 （记者李昱丞）8月25日晚间，深圳壹连科技股份有限公司（以下简称"壹连科技"）披露2025年 半年度报告。公司2025年上半年实现营业收入20.66亿元，同比增长22.12%；实现归母净利润1.37亿 元，同比增长18.49%；实现 ...

Core Viewpoint - The Chinese semiconductor industry has faced significant adjustments since 2025, with many companies nearing bankruptcy or restructuring due to multiple pressures, including market saturation, technological shortcomings, and financial vulnerabilities [2][29]. Company Summaries 1. LiKeXin Semiconductor - Background: Former subsidiary of Datang Telecom, focused on smart IoT and smartphone SoC chip development - Dilemma: Filed for bankruptcy in July 2025 with debts exceeding 100 million yuan, unable to secure large-scale orders, and faced severe inventory backlog due to market saturation [2]. 2. Jianwenlu (Zhejiang) Semiconductor - Background: IDM model RF chip company targeting the 5G filter market - Dilemma: Entered bankruptcy review in July 2025 due to a 30% drop in production line utilization caused by declining global smartphone shipments and high operational costs [3]. 3. Times Chip Storage Semiconductor - Background: Planned to invest 13 billion yuan in a 12-inch storage chip wafer factory - Dilemma: Failed restructuring in June 2025 due to equipment payment defaults and plummeting storage chip prices [5]. 4. Sichuan Shangda Electronics - Background: FPC supplier with a 35% order growth in 2024 - Dilemma: Filed for bankruptcy in June 2025 due to delayed customer payments and external financing interruptions [8]. 5. Jiangxi Chuangcheng Microelectronics - Background: DSP chip design company supported by local government - Dilemma: Entered bankruptcy in April 2025 due to technological lag and fierce market competition [11]. 6. Xiangxin Integrated Circuit - Background: Leading power management chip packaging company in East China - Dilemma: Filed for bankruptcy in August 2025 due to a 40% revenue decline from customer concentration and order fluctuations [14]. 7. Paixin Semiconductor - Background: Focused on automotive-grade power device packaging - Dilemma: Filed for bankruptcy in June 2025 due to delayed technology implementation and cash flow issues [15]. 8. Juleicheng Semiconductor - Background: GaN epitaxial wafer and chip manufacturer - Dilemma: Filed for bankruptcy in May 2025 due to poor technology choices and equipment payment defaults [16]. 9. Lixin Chuangyuan Semiconductor - Background: Packaging company focusing on power management and MCU chips - Dilemma: Filed for bankruptcy in July 2025 due to delayed customer payments and external financing interruptions [17]. 10. Zhenjiang New District Zhenxin Semiconductor - Background: Chip testing company established in 2018 - Dilemma: Filed for bankruptcy in April 2025 due to equipment payment defaults and declining customer demand [19]. Industry Lessons 1. Technical Research Shortcomings - 80% of companies have R&D investment below 15%, significantly lower than international giants like TSMC [29]. 2. Financial Vulnerability - 90% of companies rely on external financing, with industry financing down 40% in 2025 [30]. 3. Market Demand Fluctuations - Continuous decline in smartphone shipments and high certification barriers in automotive electronics have pressured many companies [31]. 4. Supply Chain Constraints - Heavy reliance on imported equipment and materials poses significant risks, with less than 20% domestic production for equipment below 28nm [32]. 5. Strategic Management Errors - Companies often pursue blind expansion and have a concentrated customer base, leading to vulnerabilities [33]. Future Outlook - By the end of 2024, it is expected that 90% of chip companies will face bankruptcy or restructuring, with a significant concentration of market share among leading firms [35].