Core Points - The stock of DiAo Micro (688381.SH) closed at 27.21 yuan, with a decline of 4.29%, currently in a state of breaking issue [1] - DiAo Micro was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 23, 2022, with an initial public offering of 63.05 million shares at a price of 41.68 yuan per share [1] - The stock reached a high of 55.50 yuan on its first trading day but has since experienced a downward trend [1] Fundraising and Financials - DiAo Micro raised a total of 262.79 million yuan through its initial public offering, with a net amount of 241.56 million yuan after deducting issuance costs [1] - The net fundraising amount exceeded the original plan by 91.56 million yuan, with the company initially aiming to raise 150 million yuan for various projects including chip product upgrades and the establishment of research centers [1] - The total issuance costs amounted to 21.23 million yuan, with the lead underwriters, CITIC Securities and Pacific Securities, receiving 18.08 million yuan in underwriting fees [1] Investment Participation - CITIC Investment, a subsidiary of the lead underwriter, participated in the offering with a stake of 3%, acquiring 1.89 million shares for an amount of 78.84 million yuan, subject to a 24-month lock-up period [2]

Core Insights - The company reported a total revenue of 306 million yuan for the first half of 2025, an increase of 40.19 million yuan compared to the same period last year, marking a year-on-year growth of 15.11% [1] - The net profit attributable to shareholders was -4.21 million yuan, indicating a loss [1] - The net cash inflow from operating activities was -17.77 million yuan, which is an improvement of 13.11 million yuan compared to the same period last year [1] Financial Metrics - The latest debt-to-asset ratio stands at 6.95% [3] - The gross profit margin is reported at 45.49% [3] - The return on equity (ROE) is -0.16% [3] - The diluted earnings per share (EPS) is -0.02 yuan [3] - The total asset turnover ratio is 0.11 times, which is an increase of 0.02 times year-on-year, reflecting a growth of 23.48% [3] - The inventory turnover ratio is 1.05 times [3] Shareholder Information - The number of shareholders is 15,600, with the top ten shareholders holding a total of 119 million shares, accounting for 48.11% of the total share capital [3] - The top shareholders and their respective holdings are as follows: - Ju Jianhong: 19.5% - Beijing Woyan Capital Management Center (Limited Partnership) - Shanghai Woyan Venture Capital Partnership (Limited Partnership): 4.98% - Guotai Integrated Circuit Development Co., Ltd.: 4.97% - Jiangsu Runyou Investment Group Co., Ltd.: 4.85% - Hubei Xiaomi Changjiang Industrial Investment Fund Management Co., Ltd. - Hubei Xiaomi Changjiang Industrial Fund Partnership (Limited Partnership): 4.86% - Gu Ningzhong: 2.59% - Zheng Hui: 1.86% - Nantong Antai Real Estate Development Co., Ltd.: 1.55% - Roger Zhang: 1.53% - Shanghai Xinxin Integrated Circuit Technology Center (Limited Partnership): 1.33% [3]

Summary of Key Points Core Viewpoint - On August 25, a total of 6 listed companies experienced the lifting of restrictions on their shares, with a total market value of approximately 3.883 billion yuan being unlocked [1]. Group 1: Companies and Share Unlocking Details - Zhongke Jincai (Stock Code: 002657) had 1.2562 million shares released from equity incentive restrictions [1]. - Oupokangshi (Stock Code: 300595) had 525,300 shares released from equity incentive restrictions [1]. - United Chemical (Stock Code: 301209) had 55.5 million shares released from pre-issue restrictions [1]. - Xuantai Pharmaceutical (Stock Code: 688247) had 31.1 million shares released [1]. - Diaowe (Stock Code: 688381) had 800,000 shares released [1]. - Tailin Micro (Stock Code: 688591) had 240,000 shares released [1].

Core Insights - The company reported a revenue increase but a significant decline in net profit for the first half of 2025, indicating challenges in profitability despite higher sales [1][3] Financial Performance - Total revenue for the first half of 2025 reached 306 million yuan, a year-on-year increase of 15.11% compared to 266 million yuan in 2024 [1] - The net profit attributable to shareholders was -4.21 million yuan, reflecting a 115.73% decline from a profit of 26.77 million yuan in the previous year [1] - The gross margin was 45.49%, a slight decrease of 0.72% from 45.82% in 2024 [1] - The net margin turned negative at -1.38%, a significant drop of 113.66% from 10.06% in the previous year [1] - Total expenses (selling, administrative, and financial) amounted to 58.93 million yuan, accounting for 19.25% of revenue, which is an increase of 9.16% year-on-year [1] Cash Flow and Assets - The company reported a negative operating cash flow per share of -0.07 yuan, although this was an improvement of 41.37% from -0.12 yuan in the previous year [1] - The net asset value per share decreased to 10.56 yuan, down 7.9% from 11.47 yuan in 2024 [1] - Accounts receivable increased by 40.89% to 72.16 million yuan, indicating potential issues with cash collection [1] Investment Returns - The company's historical return on invested capital (ROIC) has been low, with a median of 1.99% since its listing, and a particularly poor performance in 2018 with a ROIC of -13.04% [3] - The company has recorded two years of losses since its IPO, suggesting a fragile business model [3] Debt and Solvency - The company’s interest-bearing debt surged by 1985.88% to 106 million yuan, raising concerns about its debt management [1] - Despite the increase in debt, the company maintains healthy cash assets, which may support its solvency [3]

Group 1 - The core point of the article is that 31 stocks will have their restrictions lifted next week, with a total market value of 23.481 billion yuan based on the latest closing prices [1] - Rongbai Technology has the highest market value of restricted shares to be released, with 250 million restricted shares becoming tradable next week, primarily consisting of original shareholders' restricted shares from the initial public offering [1] - Several companies, including Nine Company-WD, Baiwei Storage, Rongbai Technology, Wanma Co., and Yinhui Technology, have recently received institutional research [1] Group 2 - The table lists the stocks with the highest market value of restrictions lifted, including Rongzi Technology (5.707 billion yuan), Zhenhua Wind Power (5.282 billion yuan), and Xuantai Pharmaceutical (3.798 billion yuan) [3] - The percentage of restricted shares released relative to the total shares varies, with Xuantai Pharmaceutical having 68.61% of its shares restricted, while Zhenhua Wind Power has 43.04% [3] - The price changes since August for these stocks show varied performance, with Kai Ge Precision Machinery increasing by 31.54% and Xuantai Pharmaceutical decreasing by 4.01% [3]

Core Viewpoint - DiAo Micro (688381.SH) reported its semi-annual results for 2025, highlighting a decrease in institutional investor holdings compared to the previous quarter [1] Institutional Holdings - As of August 22, 2025, a total of 9 institutional investors disclosed holdings in DiAo Micro, amounting to 61.19 million shares, which represents 24.72% of the total share capital [1] - The institutional holding percentage decreased by 2.18 percentage points compared to the previous quarter [1] Public Fund Holdings - One new public fund disclosed its holdings this period, namely the Chuangjin Hexin CSI Sci-Tech Innovation 50 Index Enhanced A [1] - One public fund, the Tianzhi China Manufacturing 2025 Mixed Fund, was not disclosed in this period compared to the previous quarter [1]

Core Viewpoint - Jiangsu Diao Microelectronics Co., Ltd. held its 13th meeting of the second Supervisory Board on August 22, 2025, where several key resolutions were passed regarding the company's financial reporting and governance structure [1][2][3] Group 1: Financial Reporting - The Supervisory Board unanimously approved the 2025 semi-annual report, confirming that the report's preparation and review processes comply with legal and regulatory requirements, and accurately reflect the company's financial status and operating results [1][2] - The report does not contain any false records, misleading statements, or significant omissions [1] Group 2: Fund Management - The Supervisory Board also approved the special report on the storage and use of raised funds for the first half of 2025, affirming compliance with relevant regulations and the company's fund management measures [2] - The company has stored and used the raised funds in a dedicated account, fulfilling information disclosure obligations without any unauthorized changes in fund usage or violations [2] Group 3: Governance Structure - A resolution was passed to cancel the Supervisory Board and transfer its powers to the Audit Committee of the Board of Directors, with corresponding amendments to the company's articles of association [3] - This resolution requires approval from the company's shareholders and aligns with various legal and regulatory guidelines [3]

Meeting Information - The shareholder meeting is scheduled for September 8, 2025 [1] - The meeting will utilize a combination of on-site and online voting methods [1] - Online voting will be conducted through the Shanghai Stock Exchange's network voting system [1][4] Voting Procedures - Voting will be available from 9:15 AM to 3:00 PM on the day of the meeting [1][4] - Shareholders can vote via the trading system or the internet voting platform [3][4] - Duplicate votes through different methods will be counted based on the first submission [3] Attendance Requirements - Shareholders must be registered by the close of trading on September 1, 2025, to attend the meeting [7] - Natural person shareholders must present identification and shareholder account cards [6] - Proxy representatives must provide authorization documents and identification [6][7] Meeting Agenda - The meeting will review various proposals that have been approved by the board and supervisory committee [3] - There are no related shareholders that need to abstain from voting [3] Registration Details - Registration for attendance must be completed by September 4, 2025 [5][7] - Registration can be done via mail, email, or fax, but not by phone [7] - The registration location is at the company's securities department in Shanghai [7]

Core Viewpoint - Jiangsu Diao Microelectronics Co., Ltd. held its 17th meeting of the second board of directors on August 22, 2025, to review and approve several key proposals, including the half-year report and the cancellation of the supervisory board [1][2][3]. Group 1: Financial Reporting - The board unanimously approved the 2025 half-year report, confirming that it accurately reflects the company's financial status and operational results without any false records or misleading statements [1][2]. - The board also approved the special report on the storage and use of raised funds, affirming compliance with relevant laws and regulations, and confirming that there were no violations in the use of these funds [2][3]. Group 2: Governance Changes - The board agreed to cancel the supervisory board, transferring its responsibilities to the audit committee, and proposed amendments to the company's articles of association accordingly [3][4]. - The board approved the revision and establishment of several governance systems, including rules for shareholder meetings, board meetings, and management of related party transactions [4][5][6]. Group 3: Action Plan Evaluation - The board reviewed the half-year implementation evaluation report of the "Quality Improvement and Efficiency Enhancement Action Plan for 2025," which assessed the effectiveness of related initiatives [7]. - A proposal to convene the third extraordinary general meeting of shareholders was also approved, as several items require shareholder approval [7].

格隆汇8月22日丨帝奥微(688381.SH)公布2025年半年度报告，报告期内公司实现营业收入3.06亿元，同 比增长15.11%；归属于上市公司股东的净利润-420.92万元；基本每股收益-0.0175元。 ...