证券代码：688521 证券简称：芯原股份 公告编号：2024-039 芯原微电子（上海）股份有限公司 关于首次公开发行前股票期权行权限售股上市流通的公告 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 4,383,772 股。 本次股票上市流通总数为 4,383,772 股。 本次股票上市流通日期为 2024 年 11 月 6 日。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2020 年 7 月 21 日出具的《关于同意芯原微 电子（上海）股份有限公司首次公开发行股票注册的批复》（证监许可[2020]1537 号），芯原微电子（上海）股份有限公司（以下简称"芯原股份"或"公司"）获准 首次向社会公开发行人民币普通股（A 股）股票 48,319,289 股。经上海证券交易所 同意，公司于 2020 年 8 月 18 日在上海证券交易所科创板挂牌上市。公司首次公 开发行完成后，总股本为 483,192,883 股，其中有限售条件流通股为 440,447,482 股，无限售条件流通股为 42,745,401 股。 本次上市流通的限售股为公司 2019 年股票期权激 ...

证券代码：688521 证券简称：芯原股份 公告编号：2024-038 芯原微电子（上海）股份有限公司 关于召开2024年第三季度业绩说明会的公告 参加此次说明会人员包括：公司董事长、总裁 Wayne Wei-Ming Dai（戴伟 民）先生，公司首席财务官、董事会秘书施文茜女士（如有特殊情况，参会人员 可能进行调整）。 芯原微电子（上海）股份有限公司（以下简称"公司"）将于 2024 年 10 月 31 日在上海证券交易所网站（www.sse.com.cn）披露《芯原微电子（上海）股份 有限公司 2024 年第三季度报告》。为加强与投资者的深入交流，使投资者更加全 面、深入地了解公司情况，公司拟以网络互动方式召开 2024 年第三季度业绩说 明会（以下简称"说明会"），欢迎广大投资者积极参与。 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： 一、说明会类型 二、说明会召开的时间、方式、地点 （一）会议召开时间：2024 年 10 月 31 日（星期四）10:00-11:00 （二）会议召开方式：网络互动方 ...

Investment Rating - The report indicates a positive outlook for Shanghai Electric with an expected net profit of 2.252 billion to 2.680 billion, representing a year-on-year increase of 53.3% to 82.4% [2][4]. Core Insights - The recovery in profitability for downstream coal-related industries is highlighted, particularly for Shanghai Electric, which is expected to benefit from the decline in coal prices [2][5]. - The report notes that the overall performance of the power generation sector is improving, with several companies, including Shanghai Electric and Fuchun Environmental, showing significant profit growth [3][4]. - The smartphone market is experiencing a rebound, with companies like Stmicroelectronics reporting substantial increases in revenue and net profit due to rising demand [11][18]. Summary by Sections Performance Forecast - Shanghai Electric anticipates a net profit of 2.252 billion to 2.680 billion for the first three quarters of 2024, marking an increase of 7.83 billion to 12.11 billion compared to the previous year [2][4]. - Fuchun Environmental expects a year-on-year growth rate exceeding 80% for the same period, indicating strong performance in the power and heat service sector [3][4]. Industry Analysis - The report discusses the impact of coal price fluctuations on profitability, noting that Shanghai Electric's profit margins are closely tied to coal prices, which have been declining since 2022 [5][8]. - The recovery in the smartphone market is attributed to a three-year replacement cycle, with global smartphone shipments showing positive growth in recent quarters [18][20]. Company Comparisons - Shanghai Electric's primary energy source is coal, which has allowed it to achieve higher profit margins compared to competitors like Gansu Energy, which relies more on hydropower [4][5]. - Stmicroelectronics has seen a significant increase in revenue and net profit, driven by its focus on the smartphone sector, which is expected to continue growing in 2024 [11][12].

当二年实际上下起来很多不太成长甚至于个别还有跌落我们意识成长完之后后低前后为正在由所以大家要分析这个情况不管你现在还是亏还是怎么样但你要分析这个过程二十三年那是严重的 那当然我们也会影响 但是我要指出的是上半年扣币前后还是正的所以我们下来还比较晚而且下半年下得比较厉害这天下再厉害 大家分析一下在21年到2021年成长42% 是吧 二十一到二十一年增长25%基础上只要降了百分之十二点你要这样分析如果你二十一年已经在不涨了这是另外一回事所以从这情况影响我觉得我们下来得比较晚即使这样六月以后下半年到年底的时候超过二十一再次增长 经验有的第一季度好 第二季度不好 第三季度怎么样 上上下下是不是跟着走 走出来还不一定呢这三个表是很重要的连续四个季度 超过二季再是第三季度我们再是第三季度 百分之八十几在一年之内会转换回如来的领域这就可以看到今后六个月 九个月的情况这就是说 我们下了给人家晚上的这一块 尽管还没有百分之就说是这个情况是吧你们看到这个订单具体讲新的订单对吧这是这个情况这是非常重要的我们来看这个问题然后你看这次三期度环顶增加16.96%几乎每个部分都在成长 而且知道三分之一 三分之一 三分之一嘛 对吧那如果是同 ...

Business Overview - VeriSilicon is a company that provides platform-based, comprehensive, and one-stop chip customization services and semiconductor IP licensing services [2] - The company owns six types of processor IPs, including GPU IP, NPU IP, VPU IP, DSP IP, ISP IP, and Display Processor IP, as well as over 1,600 mixed-signal and RF IPs [3] - VeriSilicon has a rich portfolio of AI-focused hardware and software chip customization platform solutions, covering devices such as smartwatches, AR/VR glasses, AI PCs, AI phones, smart cars, robots, and data centers/servers [3] - The company is advancing its Chiplet technology and projects, guided by the principles of "IP as a Chiplet," "Chiplet as a Platform," and "Platform as an Ecosystem" [3] - VeriSilicon's business model, Silicon Platform as a Service (SiPaaS), serves a wide range of industries including consumer electronics, automotive electronics, computing, industrial, data processing, and IoT [3] Market Position and Achievements - In 2023, VeriSilicon ranked first in China and eighth globally in semiconductor IP licensing market share, and sixth globally in IP licensing revenue [3] - The company's IP portfolio ranks among the top two globally in terms of IP variety among the top ten IP companies [3] - VeriSilicon has successfully taped out chips at advanced process nodes, including 14nm/10nm/7nm/6nm/5nm FinFET and 28nm/22nm FD-SOI [3] Financial Performance - In Q3 2024, VeriSilicon's revenue is expected to reach 718 million yuan, a 16.96% increase quarter-over-quarter and a 23.60% increase year-over-year [4] - The company's new orders in Q3 2024 are expected to be 648 million yuan, with a backlog of 2.138 billion yuan, of which 78.26% is expected to convert into revenue within a year [4] - R&D investment in Q3 2024 accounted for 43.38% of revenue, with a focus on strategic technologies in AIGC and smart mobility [4] Key Business Areas - In the AI edge computing space, VeriSilicon has shipped over 100 million AI chips globally, with its NPU IP used in 128 AI chips across 10 market segments by 72 customers [4] - The company has provided chip customization services for AR glasses to a major international internet company and is collaborating with several leading AR/VR clients [4] - In Q3 2024, chip design revenue is expected to be 238 million yuan, an 81.26% year-over-year increase, driven by data processing and automotive electronics projects [5] - VeriSilicon has provided 5nm automotive-grade autonomous driving chip customization services to a leading new energy vehicle manufacturer, integrating multiple semiconductor IPs and meeting ISO 26262 functional safety standards [5] International Business - In H1 2024, domestic sales accounted for 64.72% of revenue (603 million yuan), while international sales accounted for 35.28% (329 million yuan) [5] - The company aims to maintain a long-term international revenue share of around 30% [5] Strategic Initiatives - VeriSilicon is open to strategic acquisitions to enhance its IP portfolio and chip customization capabilities, focusing on technologies and teams that align with its strategic direction [6] - The company plans to continue building its industry ecosystem and will make investments or acquisitions as needed, following relevant laws and regulations [6]

证券代码：688521 证券简称：芯原股份 公告编号：2024-037 芯原微电子（上海）股份有限公司 2024年第三季度业绩预告的自愿性披露公告 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、准确性和性依法承担法律责任。 重要内容提示： 芯原微电子（上海）股份有限公司（以下简称"公司"）预计 2024 年第三 季度实现营业收入 71,797.62 万元，环比增长 16.96%，同比增长 23.60%。 公司预计 2024 年第三季度实现归属于母公司所有者的净利润及归属于 母公司所有者扣除非经常性损益后净利润分别为-11,105.38 万元、-12,220.93 万 元，亏损同比分别收窄 4,538.25 万元、3,593.57 万元。 一、本期业绩预告情况 （一）业绩预告期间 2024 年 7 月 1 日至 2024 年 9 月 30 日。 （二）业绩预告情况 1、经财务部门初步测算，公司预计 2024 年第三季度实现营业收入 71,797.62 万元，环比增长 16.96%，同比增长 23.60%。 2、经财务部门初步测算，公司预计 2024 年第三 ...

关于首次公开发行前股票期权行权限售股上市流通的公告 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： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 588,568 股。 本次股票上市流通总数为 588,568 股。 本次股票上市流通日期为 2024 年 9 月 23 日。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2020 年 7 月 21 日出具的《关于同意芯原微 电子（上海）股份有限公司首次公开发行股票注册的批复》（证监许可[2020]1537 号），芯原微电子（上海）股份有限公司（以下简称"芯原股份"或"公司"）获准 首次向社会公开发行人民币普通股（A 股）股票 48,319,289 股。经上海证券交易所 同意，公司于 2020 年 8 月 18 日在上海证券交易所科创板挂牌上市。公司首次公 开发行完成后，总股本为 483,192,883 股，其中有限售条件流通股为 440,447,482 股，无限售条件流通股为 42,745,401 股。 证券代码：688521 证 ...

证券研究报告 | 公司动态点评 2024 年 08 月 11 日 芯原股份（688521.SH） 24Q2 营收环比高增 93%，积极拥抱 AIGC 及汽车智能化 财务指标 2022A 2023A 2024E 2025E 2026E 营业收入（百万元） 2,679 2,338 2,529 3,141 3,927 增长率 yoy（%） 25.2 -12.7 8.2 24.2 25.0 归母净利润（百万元） 74 -296 19 103 220 增长率 yoy（%） 455.3 -501.6 106.5 436.6 114.3 ROE（%） 2.5 -11.0 0.7 3.6 7.2 EPS 最新摊薄（元） 0.15 -0.59 0.04 0.21 0.44 P/E（倍） 198.3 -49.4 764.3 142.4 66.4 P/B（倍） 5.0 5.4 5.4 5.2 4.8 资料来源：公司财报，长城证券产业金融研究院 汽车/手机芯片设计项目顺利&量产订单恢复，24Q2 营收环比高增 93%。 公司 24H1 营收 9.32 亿元，同比下降 21.27%，归母净利润-2.85 亿元，同比 由盈转亏。24Q2 ...

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 52.32 [1][7]. Core Insights - The company reported a significant narrowing of losses in Q2, driven by a recovery in demand, with Q2 revenue reaching RMB 6.14 billion, a 93.0% increase quarter-on-quarter, despite a year-on-year decline of 4.7% [9]. - The company is expected to benefit from the AIGC trend and Chiplet developments, with a projected net profit of RMB -2.12 billion for 2024, turning positive in 2025 and 2026 [7][9]. Summary by Sections Financial Performance - Q2 revenue from IP licensing was RMB 184 million, down 32.1% year-on-year but up 45.2% quarter-on-quarter, with a notable increase in AI-related demand [5]. - Custom chip business revenue in Q2 was RMB 427 million, up 15.3% year-on-year and 123.7% quarter-on-quarter, with a strong order backlog of RMB 2.271 billion as of 1H24 [6][9]. Revenue Projections - The company anticipates total revenue of RMB 2.215 billion for 2024, with a projected growth to RMB 3.112 billion by 2026 [8][11]. - The revenue breakdown includes RMB 1.439 billion from custom chip business and RMB 776 million from IP licensing for 2024 [11]. Valuation Metrics - The target price of RMB 52.32 is based on a price-to-sales (PS) ratio of 7.0x for custom chip business and 20.7x for IP licensing, reflecting a premium due to the company's competitive advantages in the HPC/AI sectors [7][9].

证券代码：688521 证券简称：芯原股份 芯原微电子（上海）股份有限公司 投资者关系活动记录表 投资者关系活□ 特定对象调研 □ 分析师会议 □ 媒体采访 √ 业绩说明会 动类别 □ 新闻发布会 □ 路演活动 □ 现场参观 √ 电话会议 □ 其他（ ） 参与单位名称 2024 年 8 月 8 日 诚通基金、长江养老保险、淡水泉投资、嘉实基金、汇安基金、信达澳 亚基金、易米基金、中移资本等 2024 年 8 月 9 日 公开业绩说明会 时间 2024 年 8 月 8 日，2024 年 8 月 9 日 调研方式 线上会议 公司接待人员 姓名 公司董事长兼总裁：WAYNE WEI-MING DAI（戴伟民） 公司董事、CFO、董事会秘书：施文茜 投资者关系活动主要内容介绍 公司介绍 芯原是一家依托自主半导体 IP，为客户提供平台化、全方位、一站 式芯片定制服务和半导体 IP 授权服务的企业。 公司拥有自主可控的图形处理器 IP（GPU IP）、神经网络处理器 IP（NPU IP）、视频处理器 IP（VPU IP）、数字信号处理器 IP（DSP IP）、图像信号处理器 IP（ISP IP）和显示处理器 IP（Dis ...