| 证券代码：688135 | 证券简称：利扬芯片 | 公告编号：2025-046 | | --- | --- | --- | | 转债代码：118048 | 转债简称：利扬转债 | | 广东利扬芯片测试股份有限公司 关于注销部分募集资金专项账户的公告 根据前述相关规定，为确保募集资金的规范使用以及募投项目的有序实施， 公司、募投项目所属子公司东莞利扬芯片测试有限公司、保荐机构广发证券股份 1 有限公司已分别与存放募集资金的商业银行签订了《募集资金专户存储三方监管 协议》，具体内容可详见公司于 2024 年 7 月 12 日、2024 年 8 月 1 日披露于上 海证券交易所网站（www.sse.com.cn）的《关于签订募集资金专户存储三方监管 协议的公告》（公告编号：2024-050、公告编号：2024-060）。 前述协议内容与上海证券交易所制定的《募集资金专户存储三方监管协议 （范本）》不存在重大差异。 本公司董事会及全体董事保证公告内容不存在虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带法律责任。 一、募集资金基本情况 根据中国证券监督管理委员会出具的《关于同意 ...

Core Insights - The company reported a total revenue of 284 million yuan for the first half of 2025, representing a year-on-year increase of 23.09% [1] - The net profit attributable to shareholders was -7.06 million yuan, showing a year-on-year improvement of 16.38% [1] - The gross profit margin increased by 2.11% to 25.02%, while the net profit margin improved by 36.1% to -2.02% [1] Financial Performance - Total revenue for 2025 was 284 million yuan, up from 231 million yuan in 2024, a growth of 23.09% [1] - The net profit attributable to shareholders improved from -8.44 million yuan in 2024 to -7.06 million yuan in 2025, a 16.38% increase [1] - The gross profit margin rose to 25.02% from 24.50%, while the net profit margin improved from -3.16% to -2.02% [1] - Total expenses (selling, administrative, and financial) amounted to 54.71 million yuan, accounting for 19.26% of revenue, a decrease of 5.21% year-on-year [1] Cash Flow and Debt - Cash and cash equivalents increased significantly by 213.82% to 281 million yuan [1] - Interest-bearing liabilities rose by 45.38% to 1.211 billion yuan [1] - The net cash flow from operating activities decreased by 9.4%, attributed to increased expenses despite revenue growth [7] Strategic Developments - The company is focusing on a strategic layout termed "One Body, Two Wings," which includes expanding wafer thinning and laser grooving services [5] - The company has seen significant growth in testing revenue due to strong demand from existing and new customers [5] - The company is transitioning to a more precise investment model, focusing on specific projects driven by market demand [7] Investment and Capital Expenditure - The company has made substantial investments in testing capacity and infrastructure, which are expected to drive future revenue growth [5] - The company’s historical return on invested capital (ROIC) has been relatively low, with a median of 8.49% since its listing [8] - The company’s reliance on capital expenditure for performance improvement necessitates careful evaluation of the efficiency of these investments [8]

Core Viewpoint - Liyang Chip's 2025 semi-annual report indicates strong growth in integrated circuit testing revenue, driven by high demand and new customer product launches [1][2]. Group 1: Financial Performance - In the first half of 2025, Liyang Chip's revenue from integrated circuit testing reached 277 million yuan, a year-on-year increase of 21.85% [1]. - The second quarter saw record revenue of 150 million yuan, up 32.03% year-on-year, and a net profit of 523,400 yuan, reflecting a 105.96% increase [1]. - The company's profitability improved significantly in the second quarter after a challenging first quarter, with revenue increasing sequentially [1]. Group 2: Strategic Initiatives - The "One Body, Two Wings" strategy has begun to show results, focusing on integrated circuit testing while enhancing operational efficiency [2]. - The company has developed a comprehensive service chain covering wafer thinning, laser grooving, and stealth dicing, improving chip yield and reliability [2]. - The wafer thinning business achieved revenue of 6.75 million yuan in the first half of 2025, a substantial increase of 111.61% year-on-year [2]. Group 3: Collaborative Efforts - Liyang Chip has established an exclusive partnership with Azoteq to provide heterogeneous wafer stacking and testing services [3]. - The "TerraSight" project, developed in collaboration with Azoteq, successfully demonstrated its technology in July 2025, with plans for further testing in the second half of 2025 [3]. - The ongoing implementation of the "One Body, Two Wings" strategy positions Liyang Chip to maintain a leading edge in the integrated circuit testing sector, supporting the development of the domestic chip industry [3].

Core Insights - Liyang Chip (SH.688135) reported a positive performance in its 2025 semi-annual report, showcasing revenue growth, reduced losses, and a significant quarterly breakthrough in the integrated circuit testing sector [1][2] Financial Performance - In the first half of 2025, the company achieved operating revenue of 284.04 million yuan, a substantial increase of 23.09% compared to the same period last year, indicating enhanced market competitiveness in the integrated circuit testing field [1] - The net profit attributable to shareholders was -7.06 million yuan, but the loss narrowed significantly compared to the previous year, reflecting a clear trend of improving profitability [1] - The net profit after deducting non-recurring gains and losses was -6.76 million yuan, indicating that the core business's profitability is gradually improving with minimal interference from non-recurring factors [1] Business Segmentation and Quarterly Analysis - The integrated circuit testing business generated operating revenue of 277.29 million yuan in the first half of 2025, a year-on-year growth of 21.85%, demonstrating the core competitiveness and sustainability of the company's main business [2] - In Q2 2025, the company achieved a record high quarterly revenue of 150.26 million yuan, reflecting increased market orders and significant progress in capacity release and customer expansion [2] - The net profit attributable to shareholders in Q2 2025 was 523,400 yuan, marking the first quarterly profit and indicating a turning point in the company's operations, transitioning from loss reduction to quarterly profitability [2] Future Outlook - Overall, Liyang Chip's performance in the first half of 2025 is commendable, with steady revenue growth, continuous loss reduction, and improved quarterly profitability, confirming the gradual release of development potential in the integrated circuit testing sector [2] - With the recovery of the integrated circuit industry's prosperity and the company's ongoing efforts in its core business, there is potential for further market share expansion and sustained improvement in profitability, ultimately creating more value for shareholders [2]

Core Viewpoint - The company has released its 2025 semi-annual report, detailing its operational results, financial status, and future development plans, emphasizing the importance of reviewing the full report for comprehensive understanding [1][10]. Group 1: Company Overview - The company is Guangdong Liyang Chip Testing Co., Ltd., with stock code 688135 and convertible bond code 118048 [6][19]. - The company held its 11th board meeting on August 25, 2025, with all directors present, ensuring compliance with relevant laws and regulations [7][8]. Group 2: Financial Data - The company raised a total of RMB 520 million through the issuance of convertible bonds, with a net amount of RMB 512.89 million after deducting issuance costs [20][21]. - The company has established a dedicated account for managing the raised funds, in compliance with regulatory requirements [22][23]. Group 3: Fund Management and Usage - The company has implemented a fund management system to ensure the efficient use of raised funds, including a tripartite supervision agreement with banks and the sponsor [22][23]. - As of June 30, 2025, the company has not used idle funds for temporary working capital or for repaying bank loans [27][29]. - The company has approved the use of up to RMB 20 million of idle funds for cash management, investing in low-risk financial products [28]. Group 4: Board and Supervisory Committee Resolutions - The board and supervisory committee have both approved the semi-annual report and the special report on the management and actual use of raised funds, confirming the accuracy and completeness of the information disclosed [36][38].

Group 1 - The supervisory board of Guangdong Liyang Chip Testing Co., Ltd. confirmed that the 2025 semi-annual report was prepared and reviewed in compliance with relevant laws, regulations, and internal management systems [1][2] - The content and format of the 2025 semi-annual report meet the requirements of the Shanghai Stock Exchange, accurately reflecting the company's disclosed information without any false records or misleading statements [1][2] - The supervisory board unanimously agreed that the management and actual use of the raised funds for the first half of 2025 complied with the relevant regulations and that the funds were stored and used specifically for their intended purpose [2]

Core Viewpoint - The report highlights the financial performance and operational developments of Guangdong Leadyo IC Testing Co., Ltd. for the first half of 2025, emphasizing growth in revenue and the strategic importance of independent third-party integrated circuit testing in the semiconductor industry. Financial Performance - The company reported a revenue of approximately 284 million RMB for the first half of 2025, representing a 23.09% increase compared to the same period last year [4][5]. - The total profit for the period was approximately -8.95 million RMB, an improvement from -16.37 million RMB in the previous year [4][5]. - The net profit attributable to shareholders was approximately -7.06 million RMB, also showing improvement from -8.44 million RMB year-on-year [4][5]. - The company’s net assets increased by 1.82% to approximately 1.13 billion RMB compared to the end of the previous year [4][5]. Industry Overview - The company operates in the integrated circuit testing sector, which is classified under the "C3973 Integrated Circuit Manufacturing" category of the national economic industry classification [6][7]. - The integrated circuit testing industry is characterized by high capital intensity and requires significant investment in testing platforms and technology upgrades to meet the increasing complexity of chips [6][7]. - The demand for independent third-party testing services is growing due to the rising complexity of chips and the need for personalized testing solutions [6][7]. Technological Advancements - The company has developed 44 categories of chip testing solutions and completed mass testing for thousands of chip models, leveraging a vast database of testing data [8][9]. - The company focuses on high-performance chips, including CPU, GPU, and AI applications, and has established a competitive edge in various emerging product applications such as 5G communications and automotive electronics [8][9]. - Continuous investment in research and development is crucial for maintaining technological leadership and adapting to market demands [10][11]. Strategic Positioning - The company aims to enhance its market position by expanding its capabilities in automotive electronics, industrial control, and high-performance computing sectors [9][10]. - The establishment of long-term partnerships with chip design companies is essential for developing tailored testing solutions that meet specific product requirements [7][9]. - The company’s ability to quickly develop testing solutions in response to market needs is a significant competitive advantage [9][10].

Company Overview - Guangdong Liyang Chip Testing Co., Ltd. is listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board with the stock code 688135 [2] - The company reported total assets of approximately CNY 2.61 billion at the end of the reporting period, reflecting a 0.68% increase from the previous year [2] - The net assets attributable to shareholders increased by 1.82% to approximately CNY 1.13 billion [2] Financial Performance - The company's operating revenue for the reporting period was approximately CNY 284 million, representing a 23.09% increase compared to the same period last year [2] - The total profit for the period was a loss of approximately CNY 8.95 million, an improvement from a loss of CNY 16.37 million in the previous year [2] - The net profit attributable to shareholders was a loss of approximately CNY 7.06 million, compared to a loss of CNY 8.44 million in the same period last year [2] - The net cash flow from operating activities was approximately CNY 100.79 million, down 9.40% from the previous year [2] - The weighted average return on net assets improved to -0.64%, up from -0.76% [2] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,099 [2] - The largest shareholder, Huang Jiang, holds 29.61% of the shares, amounting to approximately 59.95 million shares [5] - Other significant shareholders include Qu Hao with 3.55% and Zhang Liping with 3.07% [5]

Core Viewpoint - Liyang Chip (688135.SH) reported a net loss of 7.06 million yuan for the first half of 2025 despite a revenue increase of 23.09% year-on-year, indicating challenges in profitability [1] Financial Performance - The company achieved a revenue of 284 million yuan, reflecting a year-on-year growth of 23.09% [1] - The net loss attributable to shareholders was 7.06 million yuan [1] - The non-recurring net profit loss was 6.76 million yuan [1] - Basic earnings per share were reported at -0.04 yuan [1]

Core Insights - Liyang Chip (688135) reported a revenue of 284 million yuan for the first half of 2025, representing a year-on-year growth of 23.09%, while the net profit attributable to shareholders was a loss of 7.06 million yuan, indicating a narrowing of losses compared to the previous year [1] - The company specializes in integrated circuit testing services, having developed 44 categories of testing solutions and completed mass production testing for thousands of chip models, with applications across various sectors including communications, computing, consumer electronics, automotive electronics, and industrial control [1] Business Performance - The revenue from integrated circuit testing services reached 277 million yuan in the first half of 2025, a year-on-year increase of 21.85%, with the second quarter achieving a record high of 150 million yuan in revenue [2] - The significant growth in testing revenue was driven by sustained demand from existing clients and the introduction of new products from newly acquired clients [2] - Revenue from wafer thinning services surged to 6.75 million yuan, marking a year-on-year increase of 111.61%, attributed to the company's strategic focus on wafer thinning and related technologies [2] - The company achieved a net profit of 523,400 yuan in the second quarter of 2025, reflecting improved profitability alongside rising revenues [2] Research and Development - Liyang Chip invested 37.31 million yuan in R&D during the reporting period, accounting for 13.13% of its revenue, emphasizing the importance of R&D in its growth strategy [3] - The company aims to address the imbalance in the integrated circuit testing sector, where there is a lack of full-process professional testing service providers to meet the high demand from design companies [3] - Future investments will focus on high-reliability testing capacities for GPUs, CPUs, AI, FPGAs, and automotive chips, enhancing the company's ability to provide efficient testing solutions and fostering a collaborative ecosystem within the industry [3]