中日被动元器件龙头企业的专利纠纷出现戏剧性转折。 2月9日，顺络电子（SZ002138，股价38.26元，市值308.50亿元）公告称，公司已就全球被动元器件巨 头株式会社村田制作所（Murata Manufacturing Co.,Ltd.）（以下简称"村田制作所"）此前发起的专利诉 讼提起反诉，指控其构成"恶意提起知识产权诉讼"。 根据该公告，公司于近日收到上海知识产权法院的《受理案件通知书》，正式以"因恶意提起知识产权 诉讼损害责任纠纷"为由起诉村田制作所。这是继2025年12月之后，顺络电子第二次对村田制作所发 起"恶意诉讼"指控。 自2024年起，村田制作所曾对顺络电子发起多轮专利侵权诉讼，但截至2025年11月7日，村田制作所已 主动撤回了其在2024年对顺络电子提起的全部5起专利侵权诉讼。 值得注意的是，这已不是顺络电子第一次以"恶意诉讼"为由反击村田制作所。 2025年12月10日，顺络电子曾发布公告称，已就村田制作所提起的另一起专利诉讼向上海知识产权法院 提起"恶意诉讼"索赔。在该案中，顺络电子同样要求确认村田制作所的诉讼构成恶意诉讼，并索赔经济 损失150万元、要求其公开道歉。 顺络电子在 ...

（原标题：AI需求激增 MLCC接棒内存上涨） AI服务器需采用耐高温、大容量的高端MLCC，因此具备大规模量产能力的厂商率先受益。TrendForce 集邦咨询的报告显示，受惠于英伟达服务器以及亚马逊、谷歌等云服务巨头的备货需求，高端MLCC订 单畅旺。日韩大厂高端MLCC产能满载，村田制作所、三星电机、太阳诱电的产能稼动率均维持在80% 以上。其中，村田制作所因掌握先进封装关键材料，预估第一季高端MLCC订单量将增长20%至25%， 产线持续满载。 AI引发的涨价潮正在元器件产业链蔓延。继存储芯片价格飙升后，片式多层陶瓷电容器（MLCC）成为 下一个涨价的关键元器件。据悉，韩国MLCC现货价格已上涨近20%，业内预计短期内仍持续上涨。 资本市场反应积极。今年以来，MLCC行业龙头韩国三星电机涨幅明显，风华高科、三环集团等A股相 关股票同步上行。业内普遍预计，2026年MLCC行业将呈现分化格局：受益于AI热潮，高端产品需求有 望爆发；中低端产品则面临需求疲软和成本上涨的压力。国内相关企业在中低端市场已确立优势，目前 正加速向高端市场突围。 高端MLCC供不应求 2026年以来，MLCC行业相关股票持续上涨 ...

● 本报记者 葛瑶 AI引发的涨价潮正在元器件产业链蔓延。继存储芯片价格飙升后，片式多层陶瓷电容器（MLCC）成为 下一个涨价的关键元器件。据悉，韩国MLCC现货价格已上涨近20%，业内预计短期内仍持续上涨。 业绩数据印证了市场景气度。数据显示，三星电机2025年四季度营收创历史新高，其中高电压、高容量 MLCC所在的组件部门营收达1.3203万亿韩元，同比增长22%。 国产厂商加速突围 从当前全球竞争格局看，国际龙头企业市场占有率位居前列。根据中国电子元件行业协会信息中心统 计，2023年，包括村田制作所、三星电机、太阳诱电在内的全球MLCC供给端前五大厂商占据超过80% 的市场份额。 业内人士认为，中国在全球中低端MLCC市场已确立相对优势。然而在高容值、高可靠性等高端MLCC 产品领域，国内产业化进程相对滞后。 不过，国内厂商也在高端市场加速突围。国元证券研报显示，国内MLCC市场分为民用和军用两大领 域。民用领域高端市场虽仍由国际龙头主导，但国内企业正持续发力。三环集团MLCC产品聚焦5G通 信、AI服务器、汽车电子等方向，已覆盖0201至2220尺寸常规产品及中高压产品、车规产品，并在高 容产品领域 ...

股票代码：002138 股票简称：顺络电子 编号：2026-013 3、涉案的金额：原告请求判令被告赔偿原告因被告恶意提起知识产权诉讼 而遭受的经济损失人民币 150 万元整。 深圳顺络电子股份有限公司 关于公司提起诉讼的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、案件所处的诉讼阶段：已立案受理，暂未开庭审理。 2、上市公司所处的当事人地位：深圳顺络电子股份有限公司为原告。 4、对上市公司损益产生的影响：本次诉讼系深圳顺络电子股份有限公司（以 下简称"公司"、"原告"）因被恶意提起知识产权诉讼而提请获得损失赔偿的诉讼， 是公司维护自身合法权益进行的正当举措，不会影响公司正常生产经营。鉴于本 次涉诉案件尚未开庭审理，因此诉讼事项对公司本期利润或期后利润的影响具有 不确定性，最终实际影响以法院判决为准，敬请广大投资者注意投资风险。 一、本次起诉的基本情况 公司于近日收到上海知识产权法院送达的关于公司以因恶意提起知识产权 诉讼损害责任纠纷为由起诉株式会社村田制作所(Murata Manufacturing Co.,Ltd.) 的《受理案件通 ...

Core Viewpoint - The recent price hikes in passive components, led by major players like Yageo and Walsin, indicate a significant shift in the market driven by supply-demand imbalances and rising raw material costs, particularly in high-end sectors like AI and electric vehicles [1][4][19]. Group 1: Price Adjustments - Yageo announced a price increase of 15%-20% for certain resistor products starting February 1, marking its third price adjustment in a short period [1]. - Walsin and Panasonic also announced price hikes of around 20% and 15%-30% respectively for various passive components, reflecting a broader trend among major manufacturers [1][2]. - Smaller manufacturers in China, such as Fenghua Advanced Technology and Shunluo Electronics, have also followed suit with price adjustments ranging from 5%-30% across multiple product categories [2][3]. Group 2: Supply Chain Dynamics - The passive component market is experiencing supply tightness, with lead times extending and some distributors pausing quotes due to uncertainty in price adjustments [3][4]. - Rising costs of raw materials, particularly precious metals like silver and palladium, have significantly increased production costs for passive components, with estimates suggesting a 20%-30% rise in production costs [5][6]. - Capacity constraints are exacerbated by major manufacturers shifting focus to high-end products, leading to a structural shortage in the mid-range market [7][8]. Group 3: Demand Drivers - The demand for passive components is being driven by the rapid growth of AI and electric vehicles, with AI servers requiring significantly more MLCCs than traditional servers [10][11]. - The automotive sector is also a major growth area, with electric vehicles using up to three times more passive components compared to traditional vehicles, creating a favorable environment for price increases [11][12]. - The overall market for passive components in China is projected to grow from 1237.65 billion yuan in 2023 to 2583.59 billion yuan by 2030, with a compound annual growth rate of 11.09% [13]. Group 4: Market Structure Changes - The current price hikes reflect a structural change in the passive components market, with high-end products experiencing significant demand while traditional consumer electronics face challenges [15][19]. - Domestic manufacturers in China are beginning to capture more market share, particularly in high-end segments, as they improve their technology and production capabilities [19][20]. - The geopolitical landscape and supply chain diversification are providing opportunities for Chinese manufacturers to enter high-end markets, as global players face capacity and delivery challenges [19][24]. Group 5: Future Outlook - The passive components market is expected to continue evolving, with AI and automotive electronics driving demand for high-value products [25][26]. - Companies need to focus on high-capacity, miniaturized, and reliable products to meet the changing market demands and maintain competitiveness [25][26]. - Collaboration across the supply chain will be crucial for manufacturers to overcome technical challenges and align with market needs [25][26].

Core Viewpoint - The recent price hikes in passive components, driven by supply-demand imbalances and rising raw material costs, indicate a significant transformation in the market dynamics of the passive components industry [6][9][12]. Price Adjustments - Yageo announced a price increase of 15%-20% for certain resistor products starting February 1, reflecting its position as a market leader with an 18% global market share [2]. - Other companies, including Walsin Technology and Panasonic, have also announced price hikes for various passive components, with increases ranging from 15% to 30% [2][3]. - The price adjustments are widespread, with many small and medium-sized manufacturers in China also raising prices by 5%-20% across multiple product categories [3]. Supply Chain Dynamics - The price increases are primarily driven by rising costs of raw materials such as silver, copper, and aluminum, which have seen significant price surges, with silver prices increasing over 140% in 2025 [7][9]. - The production costs for passive components have risen by 20%-30% due to these raw material price increases, prompting manufacturers to pass on costs to customers [7][9]. - Capacity constraints are exacerbating the situation, as many Japanese manufacturers have shifted focus to high-end products, reducing supply in the mid-to-low-end market [8][9]. Demand Drivers - The demand for passive components is being driven by the rapid growth of AI and electric vehicle markets, with AI server motherboards requiring significantly more MLCCs than traditional servers [10][11]. - The demand for passive components in electric vehicles is also increasing, with the number of MLCCs used per vehicle rising dramatically compared to traditional vehicles [10][11]. - The overall market for passive components in China is projected to grow from 1237.65 billion yuan in 2023 to 2583.59 billion yuan by 2030, with a compound annual growth rate of 11.09% [12]. Market Structure Changes - The current price hikes reflect a structural change in the passive components market, with high-end products for AI servers and electric vehicles experiencing significant demand while traditional consumer electronics face challenges [14][17]. - Domestic manufacturers are beginning to capture more market share, with companies like Walsin Technology and Sunlord Electronics seeing increased orders and expanding their production capabilities [18][19]. - The shift towards high-end products presents opportunities for domestic manufacturers to enter the supply chains of larger companies, especially as global manufacturers face capacity and delivery challenges [22][23].

Core Viewpoint - Both ZTE Corporation and Sunlord Electronics announced their intention to invest 200 million yuan as limited partners in the Guangdong-Hong Kong-Macao Greater Bay Area Venture Capital Guidance Fund [2][8]. Group 1: Fund Overview - The Guangdong-Hong Kong-Macao Fund was established on December 22, 2025, with a total scale of 50.45 billion yuan, focusing on areas supported by national policies such as new-generation information technology, biotechnology, high-end equipment manufacturing, new materials and new energy, and electronic hardware [5][7]. - The fund is one of three regional funds under the National Venture Capital Guidance Fund, which has a registered capital of 100 billion yuan and is fully owned by the Ministry of Finance [7]. - The fund aims to support seed and early-stage technology companies in strategic emerging industries and future industries, promoting original and disruptive technological innovation [7]. Group 2: Investment Strategy - The fund adopts a "sub-fund + direct investment" model, primarily targeting equity investments in strategic emerging industries [7]. - The fund's partners include notable entities such as the National Guidance Fund, which has committed 20 billion yuan, accounting for 39.64% of the total contributions [7][8]. - The investment strategy emphasizes long-term investments in hard technology, with a focus on achieving significant technological advancements and converting major scientific achievements into productive forces [7]. Group 3: Company Involvement - ZTE Corporation stated that its investment in the Guangdong-Hong Kong-Macao Fund supports the strategic execution of its core business and aims to achieve investment returns through quality industry investments [8]. - Sunlord Electronics indicated that its participation in the fund allows it to leverage the resources and advantages of professional investment institutions in equity investment and industry cultivation, aiming for long-term investment returns [8]. - The investment areas of the fund align with the main business operations of both companies, facilitating external business development and enhancing overall competitiveness and profitability [8].

顺络电子（002138）(002138.SZ)公告，公司拟作为有限合伙人出资2亿元认购粤港澳大湾区创业投资引 导基金合伙企业(有限合伙)(简称"粤港澳基金")份额。该基金将重点关注新一代信息科技、生物技术、 高端装备制造、新材料与新能源、电子硬件等国家政策支持的领域。 ...

智通财经APP讯，顺络电子(002138.SZ)公告，公司拟作为有限合伙人出资2亿元认购粤港澳大湾区创业 投资引导基金合伙企业(有限合伙)(简称"粤港澳基金")份额。该基金将重点关注新一代信息科技、生物 技术、高端装备制造、新材料与新能源、电子硬件等国家政策支持的领域。 ...

格隆汇2月6日丨顺络电子(002138.SZ)公布，公司作为有限合伙人与普通合伙人国投创新投资管理有限 公司、厦门产投新圆科技投资有限公司，其他有限合伙人厦门市产业投资有限公司、厦门市创业投资有 限公司、厦门市思明区产业投资有限公司、厦门火炬产业股权投资管理有限公司、浙江中力实桥企业管 理有限公司、广州新创多策略股权投资合伙企业（有限合伙）、杭州和达产业基金投资有限公司，及特 殊有限合伙人上海新盈恒裕企业管理中心（有限合伙）共同签署《厦门恒创产投股权投资基金合伙企业 （有限合伙）合伙协议》。共同投资设立厦门恒创产投股权投资基金合伙企业（有限合伙）（简称"合 伙企业"），合伙企业目标募集规模为人民币10亿元，出资方式均为货币。全体合伙人本次的认缴出资 总额为人民币40,875.91万元，公司拟以自有资金认缴出资人民币10,000万元。投资方向：重点方向为新 材料、数字经济、智能制造、新能源汽车智能化、生命科学等领域。经合伙人会议批准，合伙企业也可 以适当投向除前述外的其他行业，但合伙企业投资于前述主投行业的比例不得低于合伙企业基金募集规 模的百分之七十。 ...