2025年第二次 临时股东会会议资料 ..... 裕太微电子 Motorcomm 公司代码：688515 | 公司简称：裕太微 目 录 | 2025 年第二次临时股东会会议须知 . | | --- | | 2025 年第二次临时股东会会议议程 . | | 2025 年第二次临时股东会会议议案 . | | 议案一 ……………… | | 关于取消监事会及修订《公司章程》的议案 | | 议案二 | | 关于制定、修订及废止公司部分治理制度的议案 | 裕太微电子股份有限公司 2025 年第二次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证股 东会的顺利进行，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》"）、《上市公司股东会规 则》《裕太微电子股份有限公司章程》（以下简称"《公司章程》"）、《裕太 微电子股份有限公司股东会议事规则》等相关规定，裕太微电子股份有限公司（以 下简称"公司"）特制定 2025 年第二次临时股东会须知。 一、 为保证本次股东会的严肃性和正常秩序，切实维护与会股东（或股东 代理人）的合法权益，除出席 ...

Group 1 - The core point of the article is that Yutai Micro (SH 688515) announced a share reduction plan, where shareholder Li Haihua has reduced approximately 630,000 shares, accounting for 0.7854% of the total share capital of 80 million shares [1] - As of the announcement date, Yutai Micro's market capitalization is 8.4 billion yuan [1] - For the year 2024, Yutai Micro's revenue composition is heavily weighted towards the integrated circuit industry, which accounts for 99.95% of its total revenue, while other businesses contribute only 0.05% [1]

Core Viewpoint - Yutai Micro (688515.SH) announced the completion of a share reduction plan by shareholder Li Haihua, who has reduced his holdings through centralized bidding [1] Summary by Relevant Sections - Share Reduction Details - Li Haihua has reduced a total of 628,300 shares, which accounts for 0.7854% of the company's total share capital of 80 million shares [1]

Core Insights - Yutai Micro has achieved a significant milestone with its cumulative shipment of automotive Ethernet chips exceeding 10 million units, indicating strong product technology and market recognition [1] - The company has signed a strategic cooperation agreement with Zhongqi Chip (Shenzhen) Technology Co., Ltd., focusing on long-term collaboration in automotive communication and related chip security and performance testing [1] - This strategic move reflects the company's transition from being a "technology pioneer" to an "ecosystem builder" in the automotive communication chip sector [1]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 140.50 RMB [6][4]. Core Views - The company has shown strong revenue growth, achieving 388 million RMB in the first three quarters of 2025, a year-on-year increase of 45.70%. The net profit attributable to the parent company was -128 million RMB, indicating a reduction in losses compared to the previous year [1][4]. - The demand in the downstream market is recovering well, and the company’s products, including 2.5G PHY and automotive-grade chips, are ramping up production, contributing to revenue growth [1][2]. - The company is expected to achieve over 40% revenue growth in 2025, driven by the expansion of its product offerings and market penetration in automotive applications [3][4]. Summary by Sections Financial Performance - In Q3 2025, the company reported revenue of 166 million RMB, a year-on-year increase of 48.87% and a quarter-on-quarter increase of 17.78%. The gross margin was stable at 42.69% [2][1]. - The company’s expense ratio decreased significantly, leading to a further reduction in losses [2]. Product Development - The company is expanding its product lineup, with multiple new products in the automotive sector achieving mass production. This includes the automotive Ethernet TSN switch chip and various PHY chips [3][4]. - The 2.5G PHY chip is expected to see record revenue in 2025, with the company also developing higher-end applications like the 10G PHY chip [3][4]. Market Outlook - The automotive-grade market is experiencing a mild recovery, and the company is well-positioned to benefit from this trend through its innovative product offerings [3]. - The company’s strategy includes actively expanding into the automotive gateway and high-speed video transmission chip markets, which are expected to contribute to revenue in the medium to long term [3].

Group 1 - The core viewpoint of the news is that Yutai Micro has shown a mixed performance in its stock price, with a year-to-date increase of 15.56% but a recent decline over the last five and twenty trading days [2] - As of November 4, Yutai Micro's stock price rose by 2.05% to 114.40 yuan per share, with a total market capitalization of 9.152 billion yuan [1] - The company specializes in the research, design, and sales of high-speed wired communication chips, with 99.44% of its revenue coming from chip sales [2] Group 2 - Yutai Micro's revenue for the period from January to September 2025 reached 388 million yuan, representing a year-on-year growth of 45.70%, while the net profit attributable to shareholders was -128 million yuan, an increase of 8.89% [2] - The company is categorized under the electronic-semiconductor-analog chip design industry and is associated with concepts such as Huawei, robotics, Xiaomi, switches, and vehicle networking [2] - As of September 30, 2025, the number of shareholders increased by 15.83% to 8,684, while the average circulating shares per person decreased by 13.67% to 5,736 shares [2]

Core Viewpoint - The company is planning to cancel its supervisory board and amend its articles of association to enhance corporate governance in compliance with relevant laws and regulations [28][29][30]. Financial Data - The third-quarter financial statements have not been audited [3]. - The report includes major accounting data and financial indicators, but specific figures are not provided in the documents [3]. Shareholder Information - The total number of ordinary shareholders and the top ten shareholders' holdings are to be disclosed, with a note on the company's repurchase account holding 603,649 shares, representing 0.7546% [6]. - The company will hold its second extraordinary general meeting on November 17, 2025, at 14:00 in Shanghai [10][11]. Meeting Details - The meeting will utilize both on-site and online voting methods, with specific time frames for voting outlined [12][15]. - Shareholders must register to attend the meeting, with detailed registration methods provided [21][22]. Governance Changes - The company intends to abolish the supervisory board, transferring its responsibilities to the audit committee of the board of directors [29]. - Amendments to the articles of association will be made to align with the new corporate governance structure [30].

Group 1 - Yutai Micro (688515.SH) reported its Q3 2025 results on October 31, 2025, with 14 institutional investors holding a total of 23.73 million A-shares, representing 29.66% of the total share capital [1] - The top ten institutional investors collectively hold 27.99% of the shares, which is a decrease of 0.08 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, GF Sci-Tech Innovation Two-Year Open Mixed Fund, increased its holdings by 0.10% compared to the previous period [2] - Two public funds, including Taixin Xinselect Mixed A and Taixin Small Cap Selected Mixed, reduced their holdings by a total of 1.65% compared to the previous quarter [2] - One new public fund, China Europe Small Cap Growth Mixed A, was disclosed this period, while 96 public funds were not disclosed again, including several notable funds [2]

Financial Performance - In Q3 2025, the company's revenue reached 166 million yuan, a significant year-on-year increase of 48.87% [1] - Cumulative revenue for the first three quarters was 388 million yuan, reflecting a year-on-year growth of 45.70% [1] - The net profit attributable to the parent company in Q3 was -28.35 million yuan, a reduction in loss by 17.22 million yuan compared to the previous year [4] - Operating cash flow net amount improved by 76.84 million yuan year-on-year, indicating enhanced cash generation capability due to revenue growth [4] Product Development and Market Position - The company has shipped over 10 million vehicle chips, marking a significant milestone in its automotive business [2] - It has become one of the few suppliers in mainland China with fully independent intellectual property rights for multi-rate, multi-port Ethernet PHY chips [2] - The company launched the YT99 series, the first domestically integrated gigabit and hundred-megabit PHY vehicle TSN switch chip, filling a market gap [2] - The company is transitioning from a single chip supplier to a comprehensive vehicle communication solution provider, focusing on "PHY+SWITCH+SERDES" full-stack solutions [3] Research and Development - The company has developed capabilities for MIPI-APHY and HSMT protocols, with a high-speed video transmission chip based on HSMT expected to be released by the end of the year [3] - The product matrix has been continuously improved, with new products being launched regularly, enhancing market penetration and steadily increasing market share [4] - The 2.5G Ethernet PHY chip YT8821 series, as a strategic product, has shown significant market potential and is the first domestically produced 2.5G Ethernet PHY chip [5] - The company is still in the investment phase, but with product structure optimization and high-end chip volume production, a profitability turning point is anticipated [5]

Core Viewpoint - Yutai Micro (688515.SH) reported a significant increase in revenue for Q3 2025, but also posted a net loss attributable to shareholders [1] Financial Performance - The company's operating revenue for Q3 2025 reached 166 million yuan, representing a year-on-year growth of 48.87% [1] - The net profit attributable to shareholders was -23.30 million yuan [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was -28.35 million yuan [1]