Core Viewpoint - Yandong Microelectronics (688172.SH) announced that the National Integrated Circuit Fund will reduce its holdings in the company by selling a total of 1.0902 million unrestricted circulating shares through a centralized bidding process, decreasing its ownership percentage from 6.08% to 6.00% [1] Group 1 - The National Integrated Circuit Fund will sell 1.0902 million shares of Yandong Microelectronics [1] - The reduction in ownership percentage is from 6.08% to 6.00% [1] - The sale will occur between January 6, 2026, and January 6, 2026 [1]

Core Viewpoint - Yandong Microelectronics (688172.SH) announced that the National Integrated Circuit Fund will reduce its holdings in the company by selling a total of 1.0902 million unrestricted circulating shares through centralized bidding from January 6, 2026, resulting in a decrease in its shareholding ratio from 6.08% to 6.00% [1] Summary by Category - **Company Actions** - The National Integrated Circuit Fund will sell 1.0902 million shares of Yandong Microelectronics [1] - The shareholding ratio of the National Integrated Circuit Fund will decrease from 6.08% to 6.00% [1] - **Market Impact** - The reduction in shareholding may influence market perception and investor confidence in Yandong Microelectronics [1]

证券代码：688172 证券简称：燕东微 公告编号：2026-001 燕东微：关于持股 5%以上股东权益变动触及 1%刻 度的提示性公告 | 信息披露义务人名称 | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | | | □ 控股股东/实控人 | | | 国家集成电路产业投 | 控股股东/实控人的一致行 □ |  911100007178440918 | | 资基金股份有限公司 | 动人 | 不适用 □ | | |  其他直接持股股东 | | 重要内容提示： 权益变动方向 比例增加□ 比例减少 权益变动前合计比例 6.08% 权益变动后合计比例 6.00% 本次变动是否违反已作出的承 诺、意向、计划 是□ 否 是否触发强制要约收购义务 是□ 否 3.一致行动人信息 上述信息披露义务人无一致行动人。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | □控股股东/实际控制人及其一致行动人 其他 5%以上大股东及其一致行动人 | | --- | --- | | 投资者及其一致行动人的身份 | □ ...

Core Viewpoint - The announcement indicates that the National Integrated Circuit Industry Investment Fund Co., Ltd. has reduced its stake in Yandong Microelectronics by selling 1.0902 million unrestricted circulating shares, decreasing its ownership from 6.08% to 6.00% as part of a previously disclosed reduction plan [1] Group 1 - The share reduction occurred on January 6, 2026, through centralized bidding [1] - The reduction in shareholding touches a 1% threshold, indicating a significant change in ownership percentage [1] - The reduction plan has not yet been fully implemented as of the announcement date [1] Group 2 - This share reduction will not lead to changes in the company's controlling shareholder or actual controller [1] - There will be no significant impact on the company's governance structure or ongoing operations as a result of this share reduction [1]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board 100 Index (000698) increased by 0.28%, with notable gains in constituent stocks such as Gotion High-Tech (688390) up 10.44%, and ZK Measurement (688361) up 7.59% [1] - The China Passenger Car Association projected a 25% growth in the sales of new energy passenger vehicles in China for 2025, with December 2022 showing a 4% year-on-year increase in wholesale figures [1] - Prices for memory chips are on the rise, with Samsung and SK Hynix announcing price increases of 60%-70% for DRAM products in Q1 2023 compared to Q4 2022 [1] Group 2 - The Huaxia Sci-Tech 100 ETF (588800) is the first and only mid-cap index tracking the Sci-Tech 100 Index, focusing on high-growth sectors including semiconductors, pharmaceuticals, and new energy [2] - The semiconductor equipment sector is expected to experience a significant expansion cycle starting in 2026, with industry-wide order growth potentially exceeding 30% and possibly reaching over 50% [1]

Group 1 - The core viewpoint of the news is that Yandong Microelectronics has shown a positive stock performance, with a 5.05% increase in share price, reaching 34.10 yuan per share, and a total market capitalization of 48.682 billion yuan [1] - Yandong Microelectronics, established on October 6, 1987, is located in Beijing Economic and Technological Development Zone and specializes in the design, production, and sales of discrete devices, analog integrated circuits, and special integrated circuits [1] - The company's revenue composition includes 47.18% from products and solutions, 43.91% from manufacturing and services, and 5.79% from other sources [1] Group 2 - According to data, Yandong Microelectronics is a significant holding in the Fuyong Fund, specifically in the Fuyong Research Optimal Mixed A Fund (015657), which holds 58,700 shares, accounting for 1.81% of the fund's net value [2] - The Fuyong Research Optimal Mixed A Fund was established on September 19, 2023, with a latest scale of 1.3054 million, and has achieved a year-to-date return of 3.19% [2] - The fund has a one-year return of 51.95%, ranking 1707 out of 8081 in its category, and a cumulative return of 41.8% since inception [2]

北京燕东微电子股份有限公司 2026 年第一次临时股东会会议资料 证券代码：688172 证券简称：燕东微 北京燕东微电子股份有限公司 2026 年第一次临时股东会会议资料 $$=0\div\nexists\lnot\exists$$ 北京燕东微电子股份有限公司 2026 年第一次临时股东会会议资料 目 录 | 2026 | 年第一次临时股东会会议须知 1 | | --- | --- | | 2026 | 年第一次临时股东会会议议程 3 | | 2026 | 年第一次临时股东会会议议案 5 | 1 北京燕东微电子股份有限公司 2026 年第一次临时股东会会议资料 北京燕东微电子股份有限公司 2026 年第一次临时股东会会议须知 为了维护全体股东的合法权益，确保股东依法行使权力，保证股东会的正常 秩序和议事效率，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《北京燕东微电子股 份有限公司章程》（以下简称"《章程》"）、《股东会议事规则》等相关法律 法规的规定，特制定本须知： 一、出席会议的股东及其代理人请提前半小时到达会议现场办理签到，会议 召开前 ...

Group 1 - The semiconductor sector experienced significant gains, with companies like Zhongwei rising over 14%, Yandong Micro over 12%, and Shanghai Xinyang over 11% [1] - The semiconductor industry is benefiting from multiple favorable catalysts, including increased government support for domestic chip development and a substantial rise in the shareholding of the National Integrated Circuit Industry Investment Fund in SMIC from 4.79% to 9.25% [3] - TrendForce has revised its price expectations for memory chips, forecasting a 55-60% increase in DRAM and a 33-38% increase in NAND contract prices for Q1, which is significantly higher than previous predictions [3] Group 2 - CITIC Construction Investment reports that the semiconductor equipment sector is entering a growth cycle, with equipment orders expected to maintain high growth rates [4] - The Taikang Semiconductor Quantitative Stock Fund has achieved over 100% returns since its inception in May 2024, with a 1.28% increase in net value on the previous day [5] - Zhejiang Securities anticipates that the semiconductor equipment index will significantly outperform the market in 2025, with current valuations at the 28th percentile, indicating strong growth in front-end equipment revenue and explosive growth in back-end equipment [5]

Group 1 - Yandong Microelectronics experienced a stock increase of 6.32% on December 31, with a trading volume of 945 million yuan [1] - The company had a net financing purchase of 17.91 million yuan on the same day, with a total financing and securities balance of 612 million yuan [1] - The financing balance of Yandong Microelectronics accounted for 2.70% of its circulating market value, indicating a high level compared to the past year [1] Group 2 - As of September 30, Yandong Microelectronics reported a total of 21,200 shareholders, an increase of 24.34% from the previous period [2] - The company achieved a revenue of 1.167 billion yuan from January to September 2025, reflecting a year-on-year growth of 18.03% [2] - The net profit attributable to the parent company was -13.40 million yuan, showing an increase of 89.02% compared to the previous year [2] Group 3 - Since its A-share listing, Yandong Microelectronics has distributed a total of 47.96 million yuan in dividends [3] - Among the top ten circulating shareholders, Yongying Semiconductor Industry Smart Selection Mixed Fund is the seventh largest with 13 million shares, marking a new entry [3] - The Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF holds 6.48 million shares, an increase of 779,600 shares from the previous period [3]

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [1][6]. Core Insights - The company is actively advancing its 12-inch production expansion, with revenue from manufacturing and services expected to reach 333 million and 288 million yuan respectively in the first half of 2025, reflecting year-on-year growth of 18.69% and a decline of 5.5% [3]. - The company is enhancing its silicon photonics layout, integrating resources from its 8/12-inch CMOS compatible process lines to establish a collaborative development system, achieving significant progress in mass production of silicon photonics technology [4]. - A stock incentive plan has been proposed, aiming to grant 35.09 million restricted shares to up to 300 individuals, with performance targets set for revenue and R&D expenditures from 2027 to 2029 [5]. Financial Projections - The company is projected to achieve revenues of 1.74 billion, 2.57 billion, and 3.43 billion yuan in 2025, 2026, and 2027 respectively, with net profits expected to be -160 million, -1.22 billion, and -1.73 billion yuan [6][10]. - The anticipated profit pressure is attributed to ongoing 12-inch expansion efforts and the associated depreciation from new equipment, with expectations for profit improvement as capacity is gradually released [6]. Stock Performance - The stock has shown a performance trend with fluctuations, indicating a potential recovery phase as the company progresses with its expansion plans [8].