| 证券代码：688372 | 证券简称：伟测科技 | 公告编号：2025-092 | | --- | --- | --- | | 转债代码：118055 | 转债简称：伟测转债 | | 上海伟测半导体科技股份有限公司 关于"伟测转债"预计满足赎回条件的提示性公告 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： 上海伟测半导体科技股份有限公司（以下简称"公司"）股票自 2025 年 10 月 15 日至 2025 年 11 月 4 日期间，已有 10 个交易日的收盘价格不低于"伟 测转债"当期转股价格的 130%（即 81.48 元/股），若未来连续 15 个交易日内， 仍有 5 个交易日公司股票的收盘价格不低于当期转股价的 130%（含 130%），将 触发《上海伟测半导体科技股份有限公司向不特定对象发行可转换公司债券募集 说明书》（以下简称"《募集说明书》"）中规定的有条件赎回条款。届时，公 司有权决定是否按照债券面值加当期应计利息的价格赎回全部或部分未转股的 "伟测转债"。 根据《上海证券交易所上市公 ...

Core Points - The company has completed the registration of the first vesting period for the reserved portion of the 2024 restricted stock incentive plan, leading to an adjustment in the conversion price of the "Weicai Convertible Bonds" [2][6] - The conversion price has been adjusted from 62.68 CNY/share to 62.65 CNY/share, effective from November 5, 2025 [2][6] - The total share capital of the company has increased from 148,944,192 shares to 149,053,640 shares due to the issuance of 109,448 shares at a price of 21.99 CNY/share [2][6] Conversion Price Adjustment Basis - The adjustment of the conversion price is based on the completion of the registration of the first vesting period of the restricted stock incentive plan [3][4] - The adjustment follows the regulations set by the China Securities Regulatory Commission regarding convertible bonds [3] Conversion Price Adjustment Method - The conversion price adjustment formula is provided, which includes factors such as stock dividends, capital increases, and cash dividends [4][5] - The adjusted conversion price is calculated using the formula: P1 = (P0 + A × k) / (1 + k) [6] Upcoming Investor Meeting - The company will hold a third-quarter performance briefing on November 11, 2025, from 13:00 to 14:00 [10][12] - The meeting will be conducted online via the Shanghai Stock Exchange Roadshow Center, allowing for interactive communication with investors [11][12] - Investors can submit questions in advance through the designated channels [11][12]

Core Insights - The company reported strong performance in the first three quarters of 2025, with revenue reaching 1.083 billion yuan, a year-on-year increase of 46.22%, and net profit attributable to shareholders of 202 million yuan, up 226% [1] - The revenue from computing power-related products increased from 9% in the first half of the year to approximately 13.5% in the first three quarters, indicating a significant growth in this segment [2] - The company is focusing on high-end wafer and product testing, particularly in the fields of industrial-grade, automotive-grade, and high-computing power products, which is expected to benefit from the domestic computing power development [2] Financial Performance - In Q3 2025, the company achieved revenue of 448 million yuan, a quarter-on-quarter increase of 28%, and net profit of 101 million yuan, up 35% quarter-on-quarter [1] - The comprehensive gross margin improved from 35.99% in Q2 to 44.59% in Q3, driven by the growth of high-margin high-end businesses [1] - The company’s capital expenditure in the first three quarters reached approximately 1.8 billion yuan, exceeding initial plans due to strong customer demand, particularly in computing power and automotive electronics [2] Future Outlook - The company is projected to achieve revenues of 1.57 billion yuan, 2.12 billion yuan, and 2.72 billion yuan in 2025, 2026, and 2027 respectively, with net profits of 300 million yuan, 410 million yuan, and 560 million yuan [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Insights - The company's performance exceeded expectations, with a revenue of 1.083 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 46.22%. The net profit attributable to shareholders was 202 million yuan, up 226% year-on-year [4] - The revenue from computing power-related products increased from 9% in the first half of the year to 13.5% in the first three quarters, indicating a growing focus on high-margin high-end business [4][5] - The company has significantly increased its capital expenditure to approximately 1.8 billion yuan in the first three quarters, driven by strong customer demand, particularly in computing power and automotive electronics [5] Summary by Sections Company Overview - Latest closing price: 103.00 yuan - Total shares: 1.49 billion, with a total market capitalization of 15.3 billion yuan [3] Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 1.083 billion yuan and a net profit of 202 million yuan, with a significant increase in gross margin from 35.99% to 44.59% in the third quarter [4] - The company is projected to achieve revenues of 1.572 billion yuan, 2.120 billion yuan, and 2.716 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits of 300 million yuan, 406 million yuan, and 556 million yuan [6][9] Growth Strategy - The company is focusing on high-end wafer and product testing, actively expanding into industrial-grade, automotive-grade, and high-computing power product testing [5] - The strategy includes enhancing testing capabilities for complex computing power chips, which are highly customized and require significant investment in testing infrastructure [5]

| 股票简称: 伟测科技 | 股票代码: 688372. SH | | --- | --- | | 债券简称: | 债券代码: 118055. SH | 上海伟测半导体科技股份有限公司 向不特定对象发行可转换公司债券 第五次临时受托管理事务报告 平安证券作为伟测科技向不特定对象发行可转换公司债券（债券简称："伟 测转债"，债券代码：118055.SH，以下简称"本次债券"）的保荐机构、主承销 商及受托管理人，持续密切关注对债券持有人权益有重大影响的事项。根据《公 司债券发行与交易管理办法》《公司债券受托管理人执业行为准则》等相关规定、 本次债券的《受托管理协议》的约定以及发行人于 2025 年 11 月 4 日披露的 《上海伟测半导体科技股份有限公司关于本次限制性股票归属登记完成后调整 可转债转股价格暨转股停复牌的公告》（公告编号：2025-090），现就本次债券 重大事项报告如下： 本安证券 PING AN SECURITIES 二〇二五年十一月 !"#$ (2025 年度) 本报告依据《公司债券发行与交易管理办法》《上海伟测半导体科技股份有 限公司向不特定对象发行可转换公司债券受托管理协议》（以下简称《受 ...

| 证券代码：688372 | 证券简称：伟测科技 | 公告编号：2025-091 | | --- | --- | --- | | 转债代码：118055 | 转债简称：伟测转债 | | 上海伟测半导体科技股份有限公司 会议召开时间：2025 年 11 月 11 日（星期二）13:00-14:00 会议召开地点：上证路演中心（网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 二、 说明会召开的时间、地点 1、会议召开时间：2025 年 11 月 11 日（星期二）13:00-14:00 2、会议召开地点：上证路演中心 关于召开 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、准确性和完整性承担法律责任。 重要内容提示： 投资者可于 2025 年 11 月 4 日（星期二）至 11 月 10 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司投资者关系 邮箱 ir@v-test.com.cn 进行提问。公司将在业绩说明会上对投资者普遍关 ...

| 证券简称：伟测科技 | 公告编号：2025-090 | | --- | --- | | 转债简称：伟测转债 | | | 证券代码：688372 转债代码：118055 | | 上海伟测半导体科技股份有限公司 关于本次限制性股票归属登记完成后调整可转债转股 价格暨转股停复牌的公告 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、准确性和完整性承担法律责任。 重要内容提示： 证券停复牌情况：适用 因上海伟测半导体科技股份有限公司（以下简称"公司"）2024 年限制性股票激励 计划预留部分第一个归属期归属完成登记增发新股，引发"伟测转债"转股价格 调整,本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 期间 | | | | 118055 | 伟测转债 | 可转债转股停 | 2025/11/4 | 全天 | 2025/11/4 | 2025/11/5 | | | | 牌 ...

Core Points - Weicai Technology experienced a decline of 6.47% on November 3, with a stock price of 96.34 CNY per share and a total market capitalization of 14.349 billion CNY [1] Company Overview - Shanghai Weicai Semiconductor Technology Co., Ltd. was established on May 6, 2016, and went public on October 26, 2022 [1] - The company specializes in wafer testing, chip finished product testing, and related integrated circuit testing services [1] - Revenue composition includes wafer testing at 55.40%, chip finished product testing at 40.09%, and other services at 4.51% [1] Fund Holdings - A fund under Shangyin Asset Management holds a significant position in Weicai Technology, with 25,500 shares, representing 0.34% of the fund's net value, making it the seventh-largest holding [2] - The fund, Shangyin Fengrui One-Year Holding Period Mixed Initiation A (019787), has a current scale of 235 million CNY and has reported a year-to-date return of 2.76% [2] - The fund manager, Zhao Zhiyue, has a tenure of 10 years and 178 days, with a total asset scale of 1.768 billion CNY [2]

Group 1 - The core point of the news is that Weicet Technology's stock has increased by 5.07%, reaching a price of 105.30 CNY per share, with a trading volume of 847 million CNY and a turnover rate of 5.53%, resulting in a total market capitalization of 15.684 billion CNY [1] - Weicet Technology, established on May 6, 2016, and listed on October 26, 2022, is primarily engaged in wafer testing, chip finished product testing, and related integrated circuit testing services. The revenue composition is as follows: wafer testing 55.40%, chip finished product testing 40.09%, and others 4.51% [1] Group 2 - From the perspective of major fund holdings, one fund under GF Fund has a significant position in Weicet Technology. The GF Arbitrage Fund (000992) held 5,838 shares in the third quarter, accounting for 0.97% of the fund's net value, ranking as the eighth largest holding. The estimated floating profit today is approximately 29,700 CNY [2] - The GF Arbitrage Fund (000992) was established on February 6, 2015, with a latest scale of 53.5627 million CNY. Year-to-date return is 1.9%, ranking 7,649 out of 8,152 in its category; the one-year return is 2.7%, ranking 7,510 out of 8,038; and the return since inception is 20.43% [2] Group 3 - The fund managers of GF Arbitrage Fund (000992) are Sun Di and Yi Wei. As of the report, Sun Di has a cumulative tenure of 7 years and 323 days, with a total fund asset size of 3.438 billion CNY, achieving the best fund return of 234.15% and the worst return of -46.52% during his tenure. Yi Wei has a cumulative tenure of 2 years and 118 days, with a total fund asset size of 3.872 billion CNY, achieving the best fund return of 67.93% and the worst return of -2.24% during his tenure [3]

Investment Rating - The investment rating for the company is "Outperform the Market" [4][6]. Core Insights - The company achieved a revenue of 1.083 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 46.22%. The net profit attributable to shareholders reached 202 million yuan, up 226% year-on-year, with a net profit margin increasing by 10.3 percentage points to 18.70% [1][4]. - In Q3 2025, the company recorded a revenue of 448 million yuan, marking a quarterly high and a year-on-year increase of 44.40%. The net profit attributable to shareholders was 101 million yuan, reflecting a year-on-year growth of 98% [1][2]. - The gross margin for the first three quarters of 2025 was 38.68%, an increase of 4.3 percentage points year-on-year, with Q3 2025 gross margin at 44.59%, up 2.1 percentage points year-on-year [2][3]. - The company is benefiting from increased demand for advanced packaging testing and domestic testing, driven by AI testing needs, rising penetration of smart driving, and the recovery of consumer electronics [3][4]. Financial Forecast and Metrics - The company’s projected revenues for 2025-2027 are 2.70 billion yuan, 3.26 billion yuan, and 4.31 billion yuan respectively, with corresponding PE ratios of 40x, 33x, and 25x based on the stock price as of October 24, 2025 [4][5]. - The forecasted operating revenues for 2023, 2024, 2025E, 2026E, and 2027E are 737 million yuan, 1.077 billion yuan, 1.542 billion yuan, 1.965 billion yuan, and 2.392 billion yuan respectively, with growth rates of 0.5%, 46.2%, 43.2%, 27.5%, and 21.7% [5][29]. - The projected net profit for 2025 is 270 million yuan, with a significant increase of 110.6% compared to the previous year [5][29].