央广网北京7月29日消息（记者 邹煦晨）近日，武汉新芯集成电路股份有限公司（下称"新芯股份"）的科创板IPO进程因财 务资料过期而中止，需补充更新后恢复审核。 作为国内领先的半导体特色工艺晶圆代工企业，新芯股份此番IPO计划募集资金48亿元，由国泰海通证券与华源证券保 荐。央广财经记者深入研究发现，该公司在报告期内虽然持续盈利，但来自关联方"公司二"的技术授权收入却构成了新芯 股份2023年全年及2024年前三季度净利润的主要来源，并且若剔除尚不确定的提成费因素，该收入对新芯股份2025年净利 润的贡献将出现"断崖"下降。 接受采访的多位业内人士指出，上述关联交易已构成重大影响，公司应做好风险提示。 净利润贡献将出现"断档" 招股书显示，新芯股份主要提供12英寸特色工艺晶圆代工服务，涵盖特色存储、数模混合及三维集成等领域的多种半导体 产品。公司在特色存储领域还经营自有品牌NOR Flash产品，并可为客户提供研发流片、技术授权、光掩膜版等配套服务。 2021年至2023年及2024年前三季度（以下简称"报告期"），新芯股份营业收入呈现连续增长态势，分别为31.38亿元、35.07 亿元、38.15亿元、31. ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1][5]. Core Views - The company has shown strong operational performance in 2024 and Q1 2025, with a focus on basic storage and MCU products, and is gradually enhancing its diversified product lines [3][5]. - The revenue forecast for the company is adjusted to RMB 92.04 billion, RMB 111.44 billion, and RMB 134.90 billion for the years 2025, 2026, and 2027 respectively, with corresponding net profits of RMB 15.95 billion, RMB 20.41 billion, and RMB 25.27 billion [5][7]. Summary by Sections Financial Performance - In 2024, the company achieved a revenue of RMB 73.56 billion, a year-on-year increase of 27.69%, and a net profit of RMB 11.03 billion, up 584.21% year-on-year [8]. - For Q1 2025, the company reported revenue of RMB 19.09 billion, a year-on-year increase of 17.32%, and a net profit of RMB 2.35 billion, up 14.57% year-on-year [8]. Market Position and Product Development - The company has seen a significant increase in product shipments, reaching 4.362 billion units in 2024, a growth of 39.72% year-on-year [8]. - The NOR Flash products have continued to grow in various sectors including consumer electronics and automotive, while MCU products have also seen strong demand in industrial markets [8]. Future Outlook - The company is actively pursuing opportunities in AI applications and expanding its market presence in Europe and Japan [8]. - The report highlights the potential for further growth through diversified business lines and collaboration with major clients in various sectors [8].