Core Viewpoint - Kangpeng Technology has released its annual performance forecast, indicating a significant net loss for 2025, with expected losses ranging from 55 million to 65 million yuan for net profit attributable to shareholders, and a loss of 82 million to 69 million yuan for net profit after deducting non-recurring gains and losses [1] Financial Performance - The company anticipates a growth in operating revenue compared to the previous year, driven by the growth of its CDMO (Contract Development and Manufacturing Organization) business segment [1] - The overall gross profit margin has slightly increased during the reporting period [1] - Due to cost reduction and efficiency improvement measures, the company's period expenses have decreased year-on-year [1] Profitability Analysis - The net loss attributable to shareholders, after excluding non-recurring gains and losses, has decreased [1] - However, the company experienced a significant decline in investment income due to the previous year's gains from the disposal of part of its stake in the joint venture Shanghai Zhongke Kangrun New Materials Technology Co., Ltd., and adjustments related to deferred tax assets and expenses [1] - The company has increased its asset impairment losses by testing assets for impairment signs and making provisions accordingly, leading to an increase in net loss attributable to shareholders [1]

Core Viewpoint - The company expects a net loss of approximately 43.5 million yuan for the year 2025, representing a year-on-year decrease in loss of 42.86% [1] - The company aims to become a leading global supplier of RF front-end products, focusing on enhancing core competitiveness and expanding product lines [1] Financial Performance - The projected net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be around -63 million yuan, a year-on-year decrease in loss of 34.51% [1] - The anticipated operating revenue for 2025 is approximately 683.5 million yuan, reflecting a year-on-year growth of about 30.74% [1] Product and Market Development - The Wi-Fi 7 product line is expected to grow rapidly, contributing around 50% to the total operating revenue, thus becoming a core driver of performance growth [1] - The company plans to maintain high R&D investment, estimated at around 95.6 million yuan, to ensure long-term competitiveness [1] Legal and Compliance Costs - The company expects to incur approximately 59.36 million yuan in legal and expert fees related to ongoing patent litigation and investigations, significantly increasing management expenses compared to the previous year [1] - Despite the increase in operating revenue, the net profit attributable to shareholders is still projected to be a loss due to the impact of legal fees; however, profitability is expected when excluding these costs [1] Government Subsidies - The amount of government subsidies that meet the conditions for profit recognition is expected to exceed that of the previous year [1]

Core Viewpoint - 康希通信 has achieved a preliminary victory against Skyworks in a patent infringement case, indicating the capability of Chinese companies to compete with industry giants under international regulations [3][7][16]. Group 1: Legal Dispute Overview - 康希通信 was sued by Skyworks in May 2024 for allegedly infringing on five patents related to Wi-Fi RF front-end modules [5]. - The U.S. International Trade Commission (ITC) ruled that 康希通信 did not infringe on two of the patents claimed by Skyworks, leading to a significant legal advantage for 康希通信 [4][8]. - The investigation into three other patents was terminated after Skyworks withdrew them during the evidence disclosure phase [6]. Group 2: Financial Implications - 康希通信 incurred substantial legal costs, amounting to approximately 38.84 million yuan in 2024 and an additional 50.59 million yuan in the first three quarters of 2025, bringing total expenses close to 100 million yuan [10][12]. - Despite a revenue increase to 520 million yuan in 2024, 康希通信 reported a loss of 76 million yuan, primarily due to legal expenses [10]. - The ongoing legal battle is expected to exceed 100 million yuan in total costs, significantly impacting 康希通信's profitability [12]. Group 3: Market Context and Competitive Landscape - 康希通信 operates primarily in the RF front-end chip design sector, with a focus on markets in Hong Kong and Taiwan, while less than 5% of sales come from other overseas markets [8]. - The company faces competition from established players like Skyworks and Qorvo, which dominate the Wi-Fi communication market [8]. - The legal victory is seen as a potential turning point that could alleviate concerns from European and Southeast Asian clients regarding 康希通信's products [9]. Group 4: Broader Industry Trends - The semiconductor industry is witnessing an increase in patent litigation, with 康希通信 not being the only Chinese company facing such challenges [13][15]. - The competitive landscape is characterized by significant patent holdings from multinational companies, with Skyworks alone holding over 5,000 patents [15]. - Chinese semiconductor firms are ramping up R&D investments, with 康希通信 increasing its R&D spending by 70% to 107 million yuan in 2024 [15].

Core Viewpoint - 康希通信's subsidiary achieved significant progress in the 337 investigation initiated by the U.S. International Trade Commission (ITC), with a preliminary ruling stating that it did not violate the relevant patent laws [3][4] Group 1: Investigation Details - The 337 investigation was initiated by Skyworks Solutions, Inc. in July 2024, accusing 康希通信's subsidiary of infringing on five patents related to specific radio frequency front-end modules (FEMS) [3] - The investigation case number is Inv. No. 337-TA-1413 [3] Group 2: Preliminary Ruling Outcomes - The preliminary ruling indicated that 康希通信 did not infringe on the two patents claimed by Skyworks, specifically US9,917,563 and US8,717,101 [4] - Three additional patents (US9,450,579, US9,148,194, and US7,409,200) were withdrawn by Skyworks during the evidence disclosure phase, leading to the termination of the investigation regarding these patents [4] Group 3: Company Position and Future Steps - 康希通信 emphasized its commitment to intellectual property management and protection, highlighting its independent and complete intellectual property system [4] - The preliminary ruling provides crucial legal support for 康希通信's product exports to the U.S. market [4] - The ruling is preliminary, and both parties have the right to request a review from the ITC within the statutory period, leading to administrative review and final ruling stages [4]

Core Viewpoint - The announcement by Kangxi Communication indicates that its subsidiary, Kangxi Communication Technology (Shanghai) Co., Ltd., and GRANDCHIPLABS, INC. have not infringed on the patent rights of Skyworks, a leading RF chip company [1] Summary by Relevant Sections - **Patent Infringement Case**: In 2024, Skyworks filed a complaint with the U.S. International Trade Commission, alleging that Kangxi Communication's subsidiaries manufactured and exported specific RF front-end modules that infringed on five of its patents [1]

Core Viewpoint - In 2024, Skyworks filed a lawsuit against the company's subsidiary for patent infringement in the U.S. District Court for the Central District of California and also requested an investigation from the ITC under the Tariff Act of 1930 [1] Group 1 - On January 24, 2026, the company learned that the ITC administrative law judge issued a preliminary ruling stating that its subsidiary, Kangxi Communication Technology (Shanghai) Co., Ltd., GRANDCHIPLABS, INC., and related entities did not violate Section 337 of the Tariff Act of 1930 and did not infringe on two of Skyworks' patents [1] - Additionally, three other patents have been terminated from investigation [1] - The preliminary ruling is favorable for the company, but the case will proceed to ITC administrative review and final ruling stages [1]

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法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 楼 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于上海康鹏科技股份有限公司 2025 年第四次临时股东会的 上海市锦天城律师事务所 关于上海康鹏科技股份有限公司 2025 年第四次临时股东会的 法律意见书 致：上海康鹏科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海康鹏科技股份有限 公司（以下简称"公司"）委托，就公司召开 2025 年第四次临时股东会（以下简 称"本次股东会"）的有关事宜，根据《中华人民共和国公司法》（以下简称"《公 司法》"）《上市公司股东会规则》《上海证券交易所科创板股票上市规则》（以下 简称"《上市规则》"）等法律、法规和其他规范性文件以及《上海康鹏科技股份 有限公司章程》（以下简称"《公司章程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循 ...

证券代码：688602 证券简称：康鹏科技 公告编号：2026-001 2025年第四次临时股东会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 12 月 31 日 （二） 股东会召开的地点：上海市普陀区祁连山南路 2891 弄 200 号 1 幢一楼会 议室 上海康鹏科技股份有限公司 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 90 | | --- | --- | | 普通股股东人数 | 90 | | 2、出席会议的股东所持有的表决权数量 | 304,026,507 | | 普通股股东所持有表决权数量 | 304,026,507 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 58.5369 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 58.53 ...

Group 1 - The A-share market shows strong performance in the Changxin Storage concept, with stocks like Jingce Electronics rising nearly 13%, Hefei Urban Construction hitting a 10% limit up, and Shenzhen Technology increasing by nearly 8% [1] - Changxin Technology, the first in China and the fourth globally in DRAM manufacturing, has submitted its IPO application to the Sci-Tech Innovation Board, aiming to raise 29.5 billion yuan [1] - The prospectus reveals that the company's profits are expected to exceed expectations by the fourth quarter of 2025 [1]