Core Viewpoint - Dongxin Co., Ltd. (688110) has disclosed an announcement regarding abnormal stock trading fluctuations, emphasizing that its investee, Shanghai Lishuan, has only signed a framework agreement with a cloud computing service provider and has not yet signed any orders or generated revenue [1][2]. Group 1: Company Performance - Dongxin's stock price has surged by 337% in the second half of this year, with a recent increase of 35% over the past two trading days, bringing its total market capitalization to 59.3 billion yuan, nearing its historical peak [1]. - The company reported a net profit attributable to shareholders of -35.22 million yuan for the third quarter of 2025, indicating a loss, and it expects to remain in a loss position for the entire year [1][2]. Group 2: Business Developments - Dongxin confirmed that Shanghai Lishuan has signed a strategic cooperation framework agreement with a leading domestic cloud computing service provider, focusing on areas such as domestic cloud desktop system development and digital twin solutions, but no orders have been signed yet [2]. - The first self-developed GPU chip "7G100" from Shanghai Lishuan is currently undergoing customer sampling and testing, with related work progressing normally, but it has not yet generated any revenue [2]. Group 3: Market Context - The global independent graphics card market is dominated by Nvidia and AMD, exhibiting a highly concentrated oligopoly, with these international giants holding a significant competitive advantage due to their technological accumulation and strong capital [3]. - Recent trading activity for Dongxin has shown a significant increase, with a total trading volume of approximately 14 billion yuan over the past two days, indicating notable market interest [3].

Core Viewpoint - Dongxin Co., Ltd. has seen a significant increase in stock price, rising 337% in the second half of the year, with a recent 35% surge, bringing its market capitalization to 59.3 billion yuan, nearing historical highs [3] Group 1: Company Performance - Dongxin Co., Ltd. specializes in various storage products serving multiple sectors including network communication, surveillance, consumer electronics, industrial control, and automotive electronics [3] - The company reported a net profit of -35.22 million yuan for Q3 2025, indicating a loss, and anticipates remaining in a loss position for the entire 2025 fiscal year [3] - Despite an increase in main business revenue, Dongxin Co., Ltd. noted that there has been no significant change in the internal and external operating environment [3] Group 2: Strategic Developments - Dongxin Co., Ltd. confirmed that its investee, Shanghai Lishuan, signed a strategic cooperation framework agreement with a leading domestic cloud service provider, but no formal orders have been placed yet [4][6] - The framework agreement focuses on future collaboration in areas such as domestic cloud desktop systems, AIPC, cloud rendering, and digital twin solutions, with specific projects to be defined later [6] - Dongxin Co., Ltd. invested approximately 211 million yuan in Shanghai Lishuan, acquiring about 35.87% equity, aiming to advance its "storage, computing, and networking" integrated strategy [6] Group 3: Market Context - The global discrete graphics card market is dominated by NVIDIA and AMD, creating a highly concentrated oligopoly, while domestic GPU development is still in its early stages [7] - Dongxin Co., Ltd. highlighted significant challenges for domestic GPU manufacturers, including limitations in R&D capabilities, ecosystem development, and overall technological maturity compared to international leaders [7] - Recent trading activity showed a substantial increase in transaction volume for Dongxin Co., Ltd., with a total trading amount of approximately 14 billion yuan over two days [7]

Core Viewpoint - Dongxin Semiconductor Co., Ltd. has experienced a significant stock price fluctuation, with a cumulative closing price increase of 30% over three consecutive trading days, prompting an announcement regarding abnormal trading conditions [2][5]. Group 1: Stock Trading Abnormalities - The company's stock price increased by a cumulative 30% over three trading days (November 25, 26, and 27, 2025), which is classified as abnormal trading behavior according to Shanghai Stock Exchange regulations [2][5]. - The company confirmed that there are no undisclosed significant matters affecting its operations, and its production and business activities are normal [2][6]. Group 2: Financial Performance - In the third quarter of 2025, the company reported a net loss attributable to shareholders of approximately 35.22 million yuan, indicating a continued loss for the fiscal year [2][6]. - The company anticipates remaining in a loss position for the entirety of 2025, despite a slight recovery in market demand for its main business [6]. Group 3: Investment in Shanghai Lishuan Technology - The company has invested approximately 21.05 million yuan in Shanghai Lishuan Technology, acquiring about 35.87% of its equity, as part of a larger investment totaling 50 million yuan [7][8]. - Shanghai Lishuan is primarily engaged in the research and development of GPU chips for various applications, but has not yet generated revenue from its products [10][11]. Group 4: Market Rumors and Clarifications - Recent market rumors suggested that Shanghai Lishuan had signed a large GPU chip order; however, the company clarified that only a strategic cooperation framework agreement was signed with a leading domestic cloud service provider, with no actual orders or revenue generated yet [3][11]. - The company has conducted due diligence and found no significant undisclosed matters that could impact its stock price [12].

证券代码：688110 证券简称：东芯股份 公告编号：2025-078 东芯半导体股份有限公司 股票交易异常波动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 1 东芯半导体股份有限公司（以下简称"公司"或"上市公司"）股票交易连 续三个交易日内（2025 年 11 月 25 日、11 月 26 日、11 月 27 日）日收盘价 格涨幅偏离值累计达到 30%，根据《上海证券交易所交易规则》《上海证券 交易所科创板股票异常交易实时监控细则》的有关规定，属于股票交易异常 波动情形。 经公司自查，并发函问询控股股东、实际控制人，截至本公告披露之日，确 认不存在关于公司的应披露而未披露的重大事项，公司目前生产经营正常， 生产经营未发生重大变化。 公司于 2025 年 10 月 29 日披露了《2025 年第三季度报告》，公司 2025 年第 三季度实现归属于上市公司股东的净利润为-3,521.58 万元，处于亏损状态。 公司 2025 年度预计仍处于亏损状态。 据悉，近日市场上出现了关于公司对外投资企业砺算科 ...

Group 1 - In the first ten months of 2023, the total profit of industrial enterprises above designated size reached 59,502.9 billion yuan, a year-on-year increase of 1.9%. However, in October alone, profits decreased by 5.5% compared to the same month last year due to high base effects and rising financial costs [2] - The National Development and Reform Commission (NDRC) has expanded the scope of infrastructure Real Estate Investment Trusts (REITs) to include 12 major industries and 52 asset types, with 18 asset types from 10 industries having completed their first issuance [2] - The NDRC is addressing issues of disorderly price competition in various industries, emphasizing the need for compliance with price competition regulations to maintain market order and support high-quality development [3] - The Ministry of Commerce plans to promote reforms in the automotive consumption sector, including expanding the second-hand car market and enhancing automotive aftermarket services [4] Group 2 - The State Administration for Market Regulation is enhancing antitrust enforcement and fair competition reviews, aiming to create a market-oriented and law-based business environment [4] - Shaanxi Province has introduced 16 measures to deepen capital market reforms, focusing on the role of state-controlled listed companies in resource integration and industry chain improvement [6] - Chongqing's government has implemented policies to support the development of the low-altitude economy, including financial support for recognized enterprises in this sector [5] - The National Press and Publication Administration approved 178 domestic online games and 6 imported online games in November 2023 [5] Group 3 - More Thread initiated a mechanism that resulted in a final online issuance success rate of 0.03635054%, with online investors subscribing for 16.77 million shares totaling 1.917 billion yuan [7] - FAW Jiefang plans to increase its capital by 191 million yuan, with investments from Ningde Times and Telepower [7] - Mindray Medical's chairman intends to increase his stake in the company by 200 million yuan [7] - Dongxin Co. signed a strategic cooperation framework agreement with a cloud service provider [7] - Jinfu Technology is planning to acquire equity in Lanyuan Technology, which involves risks related to industry consolidation [7] - Tianpu Co. will suspend trading for stock verification starting tomorrow [7] - Changan Technology is planning to issue shares to specific investors, which may lead to a change in control, resulting in a trading suspension [7] - *ST Songfa's subsidiary signed shipbuilding contracts worth approximately 1.1 to 1.6 billion US dollars [7]

Core Viewpoint - Dongxin Co., Ltd. (688110) has disclosed that its associate company, Shanghai Lishuan, has only signed a framework agreement with a cloud computing service provider and has not yet signed any orders or generated revenue [1][2] Group 1: Stock Performance and Market Reaction - Dongxin's stock price has surged by 337% since the second half of this year, with a recent increase of 35% over the past two trading days, bringing its total market capitalization to approximately 59.3 billion yuan [1] - The trading volume of Dongxin's shares has significantly increased, with a total transaction amount of about 14 billion yuan over the last two days [3] Group 2: Business Developments - Shanghai Lishuan has signed a strategic cooperation framework agreement with a leading domestic cloud computing service provider, focusing on future collaboration in various fields, but no specific business agreements have been signed yet [2] - The first self-developed GPU chip "7G100" from Shanghai Lishuan is currently undergoing customer sampling and testing, but has not yet generated revenue [3] Group 3: Financial Performance - Dongxin reported a net loss of 35.22 million yuan for the third quarter of 2025 and anticipates remaining in a loss position for the entire year [1][2] Group 4: Market Position and Competition - The global independent graphics card market is dominated by NVIDIA and AMD, creating a highly concentrated oligopoly, while domestic GPU development is still in its early stages and faces significant technological gaps compared to international leaders [3]

东芯股份涨14.49%，报136.01元/股，股价再创新高，总市值突破601.50亿元，成交额达58.68亿元。 （AI生成） ...

Core Viewpoint - Dongxin Co., Ltd. (688110.SH) announced that its stock price has deviated by 30% over three consecutive trading days, indicating abnormal trading activity due to market rumors regarding a large GPU chip order with Lishuan Technology (Shanghai) Co., Ltd. [1] Group 1: Company Developments - The company confirmed that Lishuan Technology has signed a strategic cooperation framework agreement with a leading domestic cloud service provider, focusing on future collaboration in areas such as domestic cloud desktop systems, domestic AIPC, cloud rendering, and digital twin solutions [1] - Currently, only the framework agreement has been signed, and no specific orders have been placed, meaning no revenue has been generated yet [1] - The chip products from Lishuan Technology are primarily intended for applications in personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twin scenarios, rather than for large model computing clusters [1] Group 2: Market Implications - The sales of Lishuan Technology's products are contingent upon product certification, customer onboarding, and mass production supply, all of which involve uncertainties [1]

Core Viewpoint - Dongxin Co., Ltd. (688110.SH) announced an abnormal stock trading fluctuation and clarified rumors regarding significant GPU chip orders from Shanghai Lishuan, which primarily focuses on the development of scalable GPU chips for various applications [1] Company Summary - Shanghai Lishuan is engaged in the research and design of multi-level scalable GPU chips, with applications in personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twins [1] - The first self-developed GPU chip "7G100" is currently undergoing customer sampling, testing, production, software support, optimization, and sales expansion, but has not yet generated revenue [1] Industry Summary - Recent market rumors suggested that Shanghai Lishuan signed large GPU chip orders; however, the company clarified that it has only signed a strategic cooperation framework agreement with a leading domestic cloud computing service provider [1] - The framework agreement outlines future collaboration in developing domestic cloud desktop systems, AIPC, cloud rendering, and digital twin solutions, with specific project agreements to be signed later [1] - As of now, no orders have been signed, and no revenue has been generated from this partnership [1]

Core Viewpoint - Dongxin Co., Ltd. announced unusual stock trading fluctuations and addressed market rumors regarding a large GPU chip order with Lishuan Technology (Shanghai) Co., Ltd. [1] Group 1: Company Developments - Lishuan Technology has signed a strategic cooperation framework agreement with a leading domestic cloud computing service provider, focusing on collaboration in areas such as domestic cloud desktop systems, domestic AIPC, cloud rendering, and digital twin solutions [1] - As of now, only the framework agreement has been signed, and no specific orders have been placed, resulting in no revenue generation to date [1] Group 2: Product and Market Context - The chip products from Lishuan Technology are primarily used in personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twin scenarios, rather than in large model computing clusters [1] - The sales of these products require product certification, customer onboarding, and mass production supply, all of which carry uncertainties [1] Group 3: Investment and Risk Factors - The company’s investment in Lishuan Technology is accounted for using the equity method and is not included in the consolidated financial statements [1] - There are several risks associated with Lishuan Technology, including industrialization progress risk, market competition risk, product singularity risk, performance risk, ongoing operation risk, and funding flow risk [1]