格隆汇12月31日丨雅创电子（维权）(301099.SZ)公布，公司拟通过发行股份及支付现金的方式购买李 永红、杨龙飞、王磊、黄琴、盛夏、张永平持有的欧创芯40.00%的股权，以及海能达科技、海友同 创、王利荣持有的怡海能达45.00%的股权；同时，拟向其他不超过35名特定投资者发行股份募集配套 资金。本次交易前，上市公司分别持有欧创芯60%股权和怡海能达55%股权；本次交易完成后，欧创芯 和怡海能达将成为上市公司全资子公司。交易价格（不含募集配套资金金额）31,700万元。 怡海能达是一家电子元器件行业的代理分销商，主营业务为电子元器件的代理分销，产品涉及的应用领 域和服务的客户群体涵盖通讯、汽车、工控、医疗、家电、照明、电源、安防、新能源及消费电子等多 个行业和领域。怡海能达主要代理的产品包括被动器件、分立器件、IC和模块产品等，并与国际知名品 牌原厂建立了长期稳定的合作关系，取得了村田、松下、TELINK、昕诺飞等在内的全球领先电子元器 件行业设计制造商的授权分销商资质。 欧创芯是一家模拟芯片研发商，专注于模拟集成电路设计、研发及销售，产品主要聚焦于LED照明驱 动、电源管理相关的集成电路设计及配套方案 ...

12月24日，晶丰明源涨5.35%，截至发稿，报113.58元/股，成交1.01亿元，换手率1.03%，总市值100.51 亿元。 资料显示，上海晶丰明源半导体股份有限公司位于中国(上海)自由贸易试验区申江路5005弄3号9-11层,2 号102单元，成立日期2008年10月31日，上市日期2019年10月14日，公司主营业务涉及拟半导体电源管 理类芯片的设计、研发与销售。主营业务收入构成为：LED照明驱动芯片51.44%，电机控制驱动芯片 26.21%，AC/DC电源芯片17.56%，高性能计算电源芯片4.76%，其他0.03%。 从基金十大重仓股角度 尚正研究睿选混合发起A（023397）基金经理为张志梅、李睿。 截至发稿，张志梅累计任职时间8年20天，现任基金资产总规模2.53亿元，任职期间最佳基金回报 121.21%， 任职期间最差基金回报-29.86%。 李睿累计任职时间310天，现任基金资产总规模1807.13万元，任职期间最佳基金回报30.33%， 任职期 间最差基金回报1.74%。 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 ...

Group 1 - The core point of the news is that Jingfeng Mingyuan's stock price has dropped by 5.41%, currently trading at 88.32 yuan per share, with a total market capitalization of 7.815 billion yuan [1] - The company, Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd., specializes in the design, research, and sales of semiconductor power management chips, with its main revenue sources being LED lighting driver chips (51.44%), motor control driver chips (26.21%), AC/DC power chips (17.56%), high-performance computing power chips (4.76%), and others (0.03%) [1] Group 2 - From the perspective of fund holdings, Shangzheng Fund has one fund heavily invested in Jingfeng Mingyuan, specifically the Shangzheng Research Selected Mixed Fund A (023397), which increased its holdings by 3,156 shares in the third quarter, now holding 11,400 shares, accounting for 7.31% of the fund's net value [2] - The fund has a current scale of 16.4659 million yuan and has achieved a return of 26.58% since its inception [2] Group 3 - The fund managers of Shangzheng Research Selected Mixed Fund A are Zhang Zhimei and Li Rui, with Zhang having a tenure of 7 years and 352 days, managing assets totaling 253 million yuan, and achieving a best return of 121.21% during her tenure [3] - Li Rui has a tenure of 277 days, managing assets of 18.0713 million yuan, with a best return of 28.73% during his tenure [3]

Core Viewpoint - The stock of Jingfeng Mingyuan has experienced fluctuations, with a recent decline of 2.05%, while the company shows a year-to-date increase of 8.13% in stock price [1] Financial Performance - For the period from January to September 2025, Jingfeng Mingyuan achieved a revenue of 1.117 billion yuan, representing a year-on-year growth of 2.67% [2] - The net profit attributable to shareholders for the same period was 23.33 million yuan, showing a significant year-on-year increase of 142.96% [2] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 8,574, up by 37.18% from the previous period [2] - The average number of circulating shares per shareholder decreased by 27.11% to 10,269 shares [2] Dividend Distribution - Since its A-share listing, Jingfeng Mingyuan has distributed a total of 388 million yuan in dividends, with 43.46 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the sixth largest circulating shareholder, holding 715,500 shares, an increase of 57,800 shares from the previous period [3] - Other notable institutional shareholders include Jiashi Technology Innovation Mixed Fund and Jiashi Innovation Pioneer Mixed Fund, with varying changes in their holdings [3]

Core Viewpoint - Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. plans to acquire Sichuan Yichong Technology Co., Ltd. to enhance its platform layout in the analog chip sector through product synergy and customer resource integration [1] Integration Management Plan - The integration plan covers five dimensions: business, assets, finance, personnel, and organization [2] - Business integration focuses on complementary product matrices and shared customer resources, with a joint launch of a 140W fast charging solution and future development of "MCU + driver" solutions in automotive electronics [2] - Financial management will unify the financial systems of both companies, ensuring compliance through regular audits [2] - Personnel stability will be maintained during the performance commitment period, with the core management team of Yichong Technology remaining intact [2] Differentiated Performance Commitment - The performance commitment includes differentiated assessment indicators for two major business segments: charging chips and other power management chips [3] - For charging chips, net profit commitments for 2025-2027 are set at no less than 92 million, 120 million, and 160 million yuan respectively [3] - For other power management chips, revenue commitments for the same period are set at no less than 190 million, 230 million, and 280 million yuan respectively [3] - The compensation trigger conditions are set at 90% of the committed net profit or revenue, with a maximum compensation amount covering 90% of the after-tax share price [3] Historical Acquisition Effectiveness - Jingfeng Mingyuan has accelerated its layout in the power management chip sector through external acquisitions, with a total transaction value of 945 million yuan since 2020 [4] - Acquired companies have shown steady performance growth, with Lingou Chuangxin's 2024 revenue increasing by 69.11% and net profit by 83.37% [4] Synergy Focus Areas - The transaction's synergy value is detailed in three areas: technical complementarity, customer sharing, and R&D integration [5] - The company's 40V medium-voltage BCD process platform is expected to reduce unit costs for Yichong's automotive chips by 15%-20% [5] - Shared customers in consumer electronics include Honor, Lenovo, and Vivo, while automotive electronics have introduced companies like BYD and Changan [5] - Joint development of mixed-signal SoC architecture aims to enhance the integration and reliability of power management chips for smart terminals [5] - The transaction's asset valuation is set at 3.283 billion yuan, with share payments accounting for 61.9% and a share issuance price of 50.39 yuan per share [5]

Core Viewpoint - Jingfeng Mingyuan is a leading domestic analog chip design company specializing in semiconductor power management chips, with strong technical research and development capabilities [1] Group 1: Business Performance - In Q3 2025, Jingfeng Mingyuan reported revenue of 1.117 billion yuan, ranking 13th in the industry, with the industry leader, Weiting Technology, at 3.521 billion yuan [2] - The main business composition includes LED lighting driver chips at 376 million yuan (51.44%), motor control driver chips at 192 million yuan (26.21%), AC/DC power chips at 128 million yuan (17.56%), and high-performance computing power chips at 34.794 million yuan (4.76%) [2] - The net profit for the same period was 27.367 million yuan, ranking 14th in the industry, with the industry leader at 677 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 40.63%, up from 35.91% year-on-year, which is higher than the industry average of 16.92% [3] - The gross profit margin for Q3 2025 was 39.53%, an increase from 36.11% year-on-year, exceeding the industry average of 36.44% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 37.18% to 8,574, while the average number of circulating A-shares held per shareholder decreased by 27.11% [5] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and several mutual funds, with notable changes in their holdings [5] Group 4: Future Outlook - The company is expected to achieve net profits of 96 million yuan, 184 million yuan, and 260 million yuan from 2025 to 2027 [5] - The company plans to acquire 100% of Yichong Technology to enhance business synergy and revenue [6]

Core Viewpoint - The stock of Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. experienced a decline of 5.02% on October 17, with a trading price of 101.20 yuan per share and a total market capitalization of 8.955 billion yuan [1] Company Overview - Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. was established on October 31, 2008, and listed on October 14, 2019. The company is located in the China (Shanghai) Pilot Free Trade Zone [1] - The company's main business involves the design, research and development, and sales of semiconductor power management chips. The revenue composition is as follows: LED lighting driver chips 51.44%, motor control driver chips 26.21%, AC/DC power chips 17.56%, high-performance computing power chips 4.76%, and others 0.03% [1] Fund Holdings - According to data from the top ten heavy stocks of funds, one fund under Shangzheng Fund holds a significant position in Jingfeng Mingyuan. The Shangzheng Research Selected Mixed Fund A (023397) held 8,249 shares in the second quarter, accounting for 6.8% of the fund's net value, making it the seventh-largest heavy stock [2] - The fund has an estimated floating loss of approximately 44,100 yuan as of the current trading day [2] Fund Manager Performance - The fund manager of Shangzheng Research Selected Mixed Fund A is Zhang Zhimei, who has been in the position for 7 years and 317 days, with a total fund asset size of 429 million yuan. The best fund return during her tenure is 121.21%, while the worst is -25.03% [3] - Co-manager Li Rui has been in the position for 242 days, managing assets totaling 10.6467 million yuan, with a best return of 38.55% and a worst return of 0.9% during his tenure [3]

Group 1 - The core point of the article highlights the recent decline in the stock price of Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd., which fell by 5.02% to 101.20 CNY per share, with a total market capitalization of 8.955 billion CNY [1] - The company specializes in the design, research, and sales of semiconductor power management chips, with its main revenue sources being LED lighting driver chips (51.44%), motor control driver chips (26.21%), AC/DC power chips (17.56%), high-performance computing power chips (4.76%), and others (0.03%) [1] - The company was established on October 31, 2008, and went public on October 14, 2019, located in the Shanghai Free Trade Zone [1] Group 2 - From the perspective of fund holdings, one fund under Dongcai has a significant position in Jingfeng Mingyuan, specifically the Dongcai Huixin Preferred Mixed Initiation A (019113), which held 4,900 shares, accounting for 4.72% of the fund's net value [2] - The fund has experienced a floating loss of approximately 26,200 CNY today, with a total fund size of 8.8871 million CNY and a year-to-date return of 12.7% [2] - The fund manager, Luo Shen, has been in position for 248 days, with the fund's total assets amounting to 30.0017 million CNY, achieving a best return of 13.25% and a worst return of -11.02% during his tenure [3]

Core Viewpoint - The stock of Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. experienced a decline of 5.05% on October 14, closing at 108.00 CNY per share, with a trading volume of 159 million CNY and a turnover rate of 1.61%, resulting in a total market capitalization of 9.557 billion CNY [1] Company Overview - Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. was established on October 31, 2008, and listed on October 14, 2019. The company is located in the China (Shanghai) Pilot Free Trade Zone [1] - The company's main business involves the design, research and development, and sales of semiconductor power management chips. The revenue composition is as follows: LED lighting driver chips 51.44%, motor control driver chips 26.21%, AC/DC power chips 17.56%, high-performance computing power chips 4.76%, and others 0.03% [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under Shangzheng Fund has a significant position in Jingfeng Mingyuan. The Shangzheng Research Selected Mixed Fund A (023397) held 8,249 shares in the second quarter, accounting for 6.8% of the fund's net value, making it the seventh-largest holding. The estimated floating loss today is approximately 47,300 CNY [2] - The Shangzheng Research Selected Mixed Fund A (023397) was established on February 18, 2025, with a latest scale of 10.5849 million CNY and a cumulative return of 43.27% since inception [2] - The fund managers are Zhang Zhimei and Li Rui. Zhang Zhimei has a tenure of 7 years and 314 days, managing assets totaling 429 million CNY, with the best fund return of 121.21% and the worst return of -21.22% during the tenure. Li Rui has a tenure of 239 days, managing assets of 10.6467 million CNY, with the best return of 42.71% and the worst return of 0.03% during the tenure [2]

Core Viewpoint - The stock of Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. experienced a decline of 5.13%, trading at 111.53 yuan per share, with a total market capitalization of 9.869 billion yuan as of October 10 [1]. Company Overview - Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. was established on October 31, 2008, and listed on October 14, 2019. The company is located in the China (Shanghai) Pilot Free Trade Zone [1]. - The company's main business involves the design, research and development, and sales of semiconductor power management chips [1]. Revenue Composition - The revenue composition of the company is as follows: - LED lighting driver chips: 51.44% - Motor control driver chips: 26.21% - AC/DC power chips: 17.56% - High-performance computing power chips: 4.76% - Others: 0.03% [1]. Fund Holdings - Taiping Fund has a significant holding in Jingfeng Mingyuan, with its Taiping Industry Select A fund (009537) holding 129,400 shares, accounting for 6.69% of the fund's net value, making it the fourth-largest holding [2]. - The fund has reported a floating loss of approximately 780,400 yuan as of the latest data [2]. Fund Performance - Taiping Industry Select A fund was established on September 1, 2020, with a current scale of 93.3723 million yuan. Year-to-date returns are 41.79%, ranking 1274 out of 4220 in its category [2]. - Over the past year, the fund achieved a return of 47.59%, ranking 942 out of 3852 in its category, and since inception, it has returned 18.58% [2]. Fund Manager Information - The fund manager of Taiping Industry Select A is Lin Kaisheng, who has been in the position for 8 years and 157 days. The total asset size of the fund is 396 million yuan, with the best return during his tenure being 83.66% and the worst being -12.31% [2].