Group 1 - Shanghai Dongnao Zhihuo Technology Co., Ltd. has officially registered and established the Shanghai Brain-Computer Interface Future Industry Cluster, the first of its kind in the country, focusing on brain-computer interface technology development [2] - The company has gathered top talents from the semiconductor and neuroscience fields, with founder Gong Yi also serving as the chairman of Dongwei Semiconductor (stock code: 688261.SH) [2] - Dongnao Zhihuo aims to become a leading global brain-computer interface company by developing proprietary hydraulic-driven flexible neural interface electrode technology [2] Group 2 - Since the 12th Five-Year Plan, brain science and artificial intelligence research, including brain-computer interface technology, have gained increasing importance in China's national science and technology planning [3] - The government is supporting the industry through top-level design, with initiatives to promote the integration of brain-computer interfaces into medical insurance and the establishment of specialized wards [3] - The 2025 National Brain-Computer Interface Conference will be held in December at the Brain-Intelligence Heaven cluster, bringing together global experts and cutting-edge technology talents [3]

Core Viewpoint - The company focuses its business primarily on the domestic market, with a low proportion of overseas sales [2] Summary by Relevant Sections - **Business Focus** - The company's operations are concentrated in the domestic market, indicating a strategic choice to prioritize local opportunities over international expansion [2]

证券代码：688261 证券简称：东微半导 公告编号：2025-050 苏州东微半导体股份有限公司 关于举办 2025 年第三季度业绩说明会的公告 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： ● 会议问题征集：投资者可于 2025 年 11 月 21 日（星期五）14:00 点前访 问网址 https://eseb.cn/1t8J593VBe0 或使用微信扫描下方小程序码进行会前 提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的 问题进行回答。 一、说明会类型 苏州东微半导体股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日在上海证券交易所网站（www.sse.com.cn）披露了《苏州东微半导体股份有限 公司 2025 年第三季度报告》。为便于广大投资者更加全面深入地了解公司经营业 绩、发展战略等情况，公司定于 2025 年 11 月 21 日（星期五）15:00-16:00 在 "价值在线"（www.ir-online.cn）举办 2025 年第三季度业绩说 ...

Group 1 - Dongwei Semiconductor (688261.SH) closed at 66.91 yuan, with a decline of 2.25% [1] - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on February 10, 2022, issuing 16.844092 million shares, accounting for 25.00% of the total shares post-issuance, at a price of 130.00 yuan per share [1] - Currently, the stock is in a state of decline from its initial offering price [1] Group 2 - The total funds raised by Dongwei Semiconductor during its IPO amounted to 2.19 billion yuan, with a net amount of 2.007 billion yuan after deducting issuance costs, which was 1.068 billion yuan more than the original plan of 939 million yuan [1] - The funds are intended for upgrading and industrialization of super junction and shielding gate power devices, R&D of new structure power devices, and construction of a research and development engineering center [1] - The total issuance costs were 183 million yuan, with the lead underwriter, China International Capital Corporation, receiving 156 million yuan in underwriting fees [1] Group 3 - The company announced a cash dividend of 1.476 yuan per share (including tax) and a capital reserve transfer of 0.4 shares for every share held, resulting in a total cash dividend distribution of approximately 99.45 million yuan and a transfer of 26.95 million shares [2] - Following this distribution, the total share capital will increase to 94,326,914 shares [2] - For the 2023 annual dividend distribution, the company plans to distribute 1.79 yuan in cash for every 10 shares and transfer 3 shares for every 10 shares held, with the record date set for July 3, 2024 [2]

Core Viewpoint - The Chinese innovative drug market is entering a rapid development phase, with local leading companies like Heng Rui benefiting from policy support and industry expansion opportunities [1] Company Performance - Heng Rui Pharmaceutical reported a revenue of 23.188 billion yuan for the first three quarters of 2025, a year-on-year increase of 14.85%, and a net profit of 5.751 billion yuan, up 24.50% [2] - The company has received a total cash dividend of over 9.3 billion yuan, enhancing investor returns [1] - The company has established a differentiated competitive advantage through over 50 billion yuan in R&D investment and has 24 innovative drugs approved for sale in China [1] Industry Trends - The innovative drug sector is experiencing accelerated commercialization and increased business development (BD) transactions, leading to a sustained trend of rapid growth in performance [1] - Other innovative drug companies, such as Zai Lab and DiZhe Pharmaceutical, are also reporting significant revenue growth, with Zai Lab achieving a 54.49% increase in revenue to 593 million yuan [3] - The industry is expected to continue its growth trajectory, supported by favorable national policies and increasing international collaboration [4][5] R&D Focus - Heng Rui's innovative drugs, including Rivoceranib and Darsylis, are addressing unmet clinical needs, contributing to their revenue growth [2] - Zai Lab emphasizes its differentiated product pipeline focusing on oncology and autoimmune diseases, aiming to fill domestic gaps in treatment options [3] - The industry is witnessing a rise in R&D investments, with companies like Yi Fang Bio reporting a total R&D investment of 190 million yuan for the first three quarters of 2025 [4] Future Outlook - Analysts predict a new round of growth for the pharmaceutical sector, particularly in innovative drugs, as the international standing of Chinese innovative drug companies rises [5] - The innovative drug sector is expected to remain a key investment theme in the pharmaceutical industry through 2026, driven by increased BD transactions and international collaborations [5]

Summary of Conference Call Company Overview - **Company**: Dongwei Peninsula - **Industry**: Power Semiconductor Design Key Financial Highlights - **Revenue**: - For the first nine months, revenue reached 963 million yuan, a year-on-year increase of 41.6% [2][3] - Third-quarter revenue was 348 million yuan, a year-on-year growth of 3% [2] - **Net Profit**: - Net profit attributable to shareholders for the first nine months was 48.55 million yuan, up 58.46% year-on-year [2] - Third-quarter net profit was approximately 20.9 million yuan, a year-on-year increase of 53.09% [2] - **Non-recurring Profit**: - Non-recurring net profit for the first nine months was 20.38 million yuan, a significant increase of 374.48% [2] - Non-recurring net profit for the third quarter was 16.44 million yuan, up 524.69% year-on-year [3] Product and Market Insights - **Product Segmentation**: - Core products include Superjet, accounting for over 70% of revenue, and medium-low voltage shielding products, which exceeded 20% [6][7] - AI-related products are categorized under industrial and communication power supplies, contributing significantly to revenue [8] - **Growth Areas**: - The company has seen substantial growth in new power device modules, with revenue reaching over 10 million yuan [7] - AI-related revenue is expected to grow, with a stable upward trend in demand across various sectors [8] Supply Chain and Cost Management - **Supply Chain Strategy**: - The company is actively stocking up on wafer resources, particularly 12-inch wafers, to meet future demand [19][20] - Inventory levels have increased, reflecting a strategic decision to prepare for anticipated demand, especially in AI [18][19] - **Gross Margin**: - Average gross margin for the third quarter was around 16%, showing a slight year-on-year increase of 1.01 percentage points [11] Future Outlook - **Quarterly Projections**: - The company expects to maintain a stable revenue distribution, with the fourth quarter traditionally accounting for a higher percentage of annual revenue [16][17] - **Product Development**: - Focus on GaN (Gallium Nitride) technology is a priority, with ongoing partnerships and product development expected to yield results in the coming year [22][23] - **Market Positioning**: - The company aims to leverage its strengths in low-voltage products and expand into new markets, particularly in the context of increasing electrification and battery usage [30][31] Additional Insights - **Strategic Partnerships**: - Collaborations with leading semiconductor manufacturers and suppliers are being established to enhance product offerings and market competitiveness [22][26] - **Investment in R&D**: - The company is committed to investing in advanced technologies and projects to ensure long-term growth and innovation [31] This summary encapsulates the key points discussed during the conference call, highlighting the company's financial performance, product insights, supply chain strategies, and future outlook.

Core Viewpoint - The company has reported its third-quarter financial results, including the recognition of asset impairment provisions totaling 5,943,632.83 yuan, reflecting a cautious approach to financial reporting and asset valuation [12][13][15]. Financial Data - The company has not conducted an audit for the third-quarter financial statements [3][10]. - The total amount of credit impairment losses recognized in the third quarter is 2,246,536.01 yuan, while the total asset impairment losses amount to 8,190,168.84 yuan [15]. Impairment Provisions - The total impairment provisions for the third quarter amount to 5,943,632.83 yuan, which will impact the company's total profit before tax [15][16]. - The company has conducted a thorough assessment of its credit and assets, adhering to the principles of prudence in accounting [13][16]. Shareholder Information - The company has approved a stock incentive plan for 2025, which includes granting a total of 1,837,971 shares, representing 1.50% of the company's total share capital [6][8]. - As of the reporting period, the company has completed the granting of 456,327 shares at a price of 21.77 yuan per share [7]. Related Transactions - The company has increased the expected amount for daily related transactions for 2025 by 30 million yuan, with unanimous approval from the board of directors [8].

Core Viewpoint - Dongwei Semiconductor reported significant growth in both revenue and net profit for the third quarter of 2025, indicating strong operational performance and positive market conditions [1] Financial Performance - In Q3 2025, the company achieved a revenue of 348 million yuan, representing a year-on-year increase of 33.26% [1] - The net profit attributable to shareholders for Q3 2025 was 20.97 million yuan, reflecting a year-on-year growth of 53.09% [1] - Basic earnings per share for Q3 2025 stood at 0.17 yuan [1] - For the first three quarters of 2025, the company reported a total revenue of 964 million yuan, which is a year-on-year increase of 41.60% [1] - The net profit attributable to shareholders for the first three quarters was 48.55 million yuan, showing a year-on-year growth of 58.46% [1] - Basic earnings per share for the first three quarters was 0.40 yuan [1]

Core Viewpoint - Dongwei Semiconductor (688261) reported strong financial performance for Q3 2025, with significant year-on-year growth in both revenue and net profit [1] Financial Performance - Q3 2025 revenue reached 348 million yuan, representing a year-on-year increase of 33.26% [1] - Net profit for Q3 2025 was 20.97 million yuan, showing a year-on-year growth of 53.09% [1] - For the first three quarters of 2025, total revenue amounted to 964 million yuan, reflecting a year-on-year growth of 41.6% [1] - Net profit for the first three quarters of 2025 was 48.55 million yuan, with a year-on-year increase of 58.46% [1] Strategic Initiatives - The company actively optimized its product mix strategy during the reporting period [1] - Dongwei Semiconductor focused on iterative upgrades of its technology platform [1] - The company continued to explore emerging markets and deepen collaborations with excellent upstream and downstream partners [1] - There was a continuous expansion of production capacity, leading to an increase in sales scale [1]

Core Viewpoint - Dongwei Semiconductor (688261.SH) reported a significant increase in revenue and net profit for the first three quarters of 2025, indicating strong business performance and growth potential [1] Financial Performance - The total operating revenue for the first three quarters reached 964 million yuan, representing a year-on-year growth of 41.6% [1] - The net profit attributable to shareholders was 48.55 million yuan, showing a year-on-year increase of 58.46% [1] - The basic earnings per share were reported at 0.4 yuan [1]