Core Viewpoint - Xingchen Technology (301536.SZ) has announced a share buyback program, indicating a strategic move to enhance shareholder value through repurchasing its own shares [1] Group 1: Share Buyback Details - As of January 31, 2026, the company has repurchased a total of 919,043 shares, which represents 0.2179% of its total share capital [1] - The highest transaction price during the buyback was 69.98 CNY per share, while the lowest was 63.78 CNY per share [1] - The total amount spent on the buyback reached 60,973,594.84 CNY, excluding transaction fees [1]

证券代码：301536 证券简称：星宸科技 公告编号：2026-006 公司后续将严格按照《上市公司股份回购规则》《回购指引》等相关规定， 在回购期限内根据市场情况择机实施本次回购股份方案，并在回购期间根据相关 法律、法规和规范性文件的规定及时履行信息披露义务，敬请广大投资者注意投 资风险。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 星宸科技股份有限公司（以下简称"公司"）于2026年1月8日召开第二届董事 会第十三次会议，审议并通过《关于以集中竞价交易方式回购公司股份方案的议 案》，同意公司使用自有资金和/或自筹资金（含股票回购专项贷款资金等）以 集中竞价交易的方式回购公司部分股份，用于股权激励和/或员工持股计划。本 次回购股份的价格为不超过88.90元/股（含），回购资金总额不低于人民币6,000 万元（含），不超过人民币12,000万元（含），按回购总金额上下限和回购股份 价格上限测算，预计可回购股份数量为674,916股至1,349,831股，占公司目前总 股本比例为0.16%至0.32%。回购期限为自公司董事会审议通过本次回购方案之 日起不超过 ...

Core Viewpoint - The report highlights significant target price increases for several listed companies from January 26 to February 1, with notable mentions including Baili Tianheng, Zexing Pharmaceutical, and Great Wall Motors, indicating strong bullish sentiment in the market for these stocks [1][2]. Target Price Increases - Baili Tianheng (688506) has a target price increase of 375.97%, with a highest target price set at 1322.00 yuan [2]. - Zexing Pharmaceutical (688266) shows a target price increase of 88.56%, with a highest target price of 166.16 yuan [2]. - Great Wall Motors (601633) has a target price increase of 83.66%, with a highest target price of 38.00 yuan [2]. - Other companies with notable target price increases include Industrial Fulian (601138) at 73.31% and CATL (300750) at 71.71% [2][3]. Broker Recommendations - A total of 265 listed companies received broker recommendations during the period, with Qingdao Bank receiving the highest number of recommendations at 8 [3][4]. - Other companies with multiple recommendations include Xian Dao Intelligent and Wancheng Group, each receiving 5 recommendations [3][4]. Rating Adjustments - Eight companies had their ratings upgraded, including Shanghai Jahwa (600315) from "Hold" to "Buy" and ZTE Corporation (000063) from "Cautious Buy" to "Buy" [5][6]. - Two companies had their ratings downgraded, including Jincheng Shares (603396) from "Buy" to "Hold" and Huasheng Group (603018) from "Buy" to "Hold" [6]. First-Time Coverage - During the same period, 75 instances of first-time coverage were reported, with notable ratings including Shaanxi Tourism (603402) receiving a "Outperform Industry" rating and Bichu Electronics (688188) receiving a "Buy" rating [7].

Investment Rating - The report assigns a "Strong Buy" rating to the company, Starry Technology, with a target price of 99.3 CNY based on a projected 80x PE for 2026 [3][9]. Core Insights - Starry Technology is positioned as a global leader in visual AI SoC, with significant market share in various segments, including security, robotics, and automotive applications. The company has established a comprehensive product portfolio and is expanding into new AIoT scenarios [6][7][18]. - The demand for edge AI SoC is experiencing explosive growth, driven by advancements in large language models and multimodal models, leading to increased penetration in various applications [40][43]. - The company has a strong competitive advantage due to its self-developed ISP and NPU technologies, which enhance imaging quality and energy efficiency, as well as its integrated SoC platform that combines perception, computation, and connectivity [6][7][24]. Summary by Sections Section 1: Global Leader in Visual AI SoC - Starry Technology, founded in 2017, has rapidly gained a leading position in the visual AI SoC market, achieving significant milestones in product development and market penetration [13][15]. - The company has successfully transitioned from a focus on security electronics to a broader AIoT landscape, with applications in smart security, smart homes, and smart vehicles [18][22]. Section 2: Edge AI SoC Penetration and 3D Sensing Technology - The global market for visual AI SoC is expected to grow significantly, with a compound annual growth rate (CAGR) of 20.0% from 2024 to 2029, driven by increasing demand for edge AI applications [43]. - Starry Technology is actively developing 3D sensing technologies, integrating them with existing AI SoC solutions to meet market demands for high-precision applications [24]. Section 3: Multi-Scene Growth in AI SoC - The company is expanding its presence in multiple sectors, including security, IoT, and automotive, with a notable increase in revenue from these segments [33]. - Starry Technology's revenue from smart IoT and automotive sectors is growing rapidly, indicating a diversification of its business model beyond traditional security applications [33]. Section 4: Financial Projections - The company is projected to achieve a net profit of 256 million CNY in 2024, with significant growth expected in subsequent years, reaching 681 million CNY by 2027 [2][9]. - The financial outlook reflects a robust growth trajectory, supported by high R&D investment and a focus on innovation [31][38].

Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies, with notable gains for Ningde Times, China Railway, and Shanghai Jahwa, reflecting strong market confidence in these sectors [1][2]. Group 2 - On January 29, the companies with the highest target price increases were Ningde Times (75.79%), China Railway (53.99%), and Shanghai Jahwa (52.17%), indicating significant bullish sentiment in the battery, infrastructure, and cosmetics industries respectively [1][2]. - A total of 27 listed companies received broker recommendations on January 29, with Qingdao Bank receiving the most recommendations at 5, followed by Mingyang Smart Energy and Ruoyuchen with 2 each [1][3]. - Three companies had their ratings upgraded on January 29, including TBEA, which was upgraded from "Hold" to "Buy" by Huatai Securities, reflecting improved outlooks for these firms [4][6]. - Five companies received initial coverage on January 29, with Qingdao Bank rated "Recommended" by Guolian Minsheng Securities, indicating new interest from analysts in these stocks [6][7].

Group 1 - The company has launched new products in the fields of robotics and automotive, including the car-grade dToF laser radar chips SS905HP and SS901, which cover a resolution range from over 1000 lines to 192 lines for long-distance applications [1] - In the automotive vision perception and assisted driving sector, the company introduced the new 12nm process SAC8905 chip, designed for L2 level assisted driving, integrating a 32 Tops NPU suitable for front-view integration and parking scenarios [1] - The company also released the SSR670 for edge computing, featuring 8 Tops computing power and local large models for high-end edge intelligent hardware [1] Group 2 - The company has invested in Yuan Chuan Wei Technology, focusing on AI inference computing power innovation, aiming to develop products with thousands of Tops computing power to meet the needs of downstream applications in robotics and automotive [2] - The collaboration with Yuan Chuan Wei is expected to significantly reduce deployment complexity and total cost of ownership (TCO) for inference applications, addressing the core demands for low latency and high computing power [2] Group 3 - Revenue projections for the company are estimated at 2.95 billion, 4.03 billion, and 5.53 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits expected to be 300 million, 500 million, and 800 million yuan for the same years [3] - The investment rating has been upgraded to "Buy" [3]

Investment Rating - The investment rating for the company is upgraded to "Buy" [1][7] Core Insights - The company is experiencing accelerated growth through the launch of new products in various sectors, including automotive laser radar and intelligent robotics. Notable products include the dToF laser radar chips and the SAC8905 chip for L2 level assisted driving [5][6] - Revenue projections for the company are estimated at 29.5 billion, 40.3 billion, and 55.3 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits expected to be 3.0 billion, 5.0 billion, and 8.0 billion yuan for the same years [7] Company Overview - The latest closing price of the company's stock is 70.74 yuan, with a total market capitalization of 298 billion yuan and a circulating market value of 132 billion yuan. The company has a total share capital of 4.22 billion shares, with 1.87 billion shares in circulation [3] - The company has a debt-to-asset ratio of 31.0% and a price-to-earnings ratio of 114.10 [3] Financial Forecasts - The company’s projected operating revenues for 2025, 2026, and 2027 are 29.47 billion, 40.27 billion, and 55.28 billion yuan respectively, with corresponding growth rates of 25.2%, 36.7%, and 37.3% [9][11] - The expected net profit for the same years is projected to be 3.05 billion, 5.01 billion, and 8.03 billion yuan, with growth rates of 18.9%, 64.3%, and 60.3% respectively [9][11]

Investment Rating - The investment rating for the company is upgraded to "Buy" [1][7] Core Insights - The company is experiencing accelerated growth through the release of new products in various sectors, including automotive laser radar and intelligent robotics. Notable products include the dToF laser radar chips and the SAC8905 chip for L2 level assisted driving [5] - The company has invested in Yuan Chuan Micro to develop high-performance AI inference chips, aiming to meet the increasing demand for high computing power in robotics and automotive applications [6] Financial Projections - The projected revenues for 2025, 2026, and 2027 are 29.5 billion, 40.3 billion, and 55.3 billion yuan respectively, with net profits of 3.0 billion, 5.0 billion, and 8.0 billion yuan [7] - The company’s revenue growth rates are expected to be 25.2% in 2025, 36.7% in 2026, and 37.3% in 2027 [11] - The earnings per share (EPS) is projected to increase from 0.72 yuan in 2025 to 1.90 yuan in 2027 [11] Financial Metrics - The company’s total market capitalization is 298 billion yuan, with a total share capital of 4.22 billion shares [3] - The price-to-earnings (P/E) ratio is projected to decrease from 116.41 in 2024 to 37.15 in 2027, indicating improving valuation [11] - The company maintains a debt-to-asset ratio of 31.0%, which is expected to rise to 49.0% by 2027 [11]

格隆汇1月28日丨星宸科技(301536.SZ)在投资者互动平台表示，南京起跑线以智能穿戴芯片为主，双方 可实现技术互补、场景融合与生态协同，进一步筑牢公司智能穿戴端侧 AI 芯片的生态优化。公司目前 暂不涉及卫星业务。 ...

格隆汇1月28日丨星宸科技(301536.SZ)在投资者互动平台表示，南京起跑线以智能穿戴芯片为主，双方 可实现技术互补、场景融合与生态协同，进一步筑牢公司智能穿戴端侧 AI 芯片的生态优化。公司目前 暂不涉及卫星业务。 ...