证券代码：688347 证券简称：华虹公司 华虹半导体有限公司 投资者关系活动记录表 □特定对象调研 □分析师会议 □媒体采访 投资者关系活动类别 业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 中信证券、华泰证券、中金公司、浦银国际、盛博及其他通过电 参与对象 话或网络方式参与华虹半导体2024年第一季度业绩说明会的广 大机构与个人投资者。 时间 2024年5月9日 17：00 电话/网络会议 地点 （http://www.huahonggrace.com/s/investor_webcast.php） 唐均君 总裁兼执行董事 上市公司出席人员 王鼎 执行副总裁兼首席财务官、董事会秘书 钱蕾 董办副部长 华虹半导体有限公司（A股简称: 华虹公司，688347；港股简称： 华虹半导体，01347）（“本公司”）是全球领先的特色工艺纯晶圆 代工企业，秉持“8英寸 + 12英寸”、先进“特色IC + Power ...

电子/半导体 公 司 研 华虹半导体（01347.HK）业绩如期逐季改善，复苏力度偏弱 究 2024年05月13日 ——港股公司信息更新报告 投资评级：增持（维持） 吴柳燕（分析师） wuliuyan@kysec.cn 日期 2024/5/10 证 书编号：S0790521110001 港 当前股价(港元) 18.020  PB估值仍处历史低位，2024年有望逐季改善，维持“增持”评级 股 一年最高最低(港元) 28.400/13.800 考虑到电源管理与CIS需求拉动公司产能利用率提升，我们将2024-2025年归母 公 司 总市值(亿港元) 309.37 净利润预测由1.01/1.19亿美金上调至1.52/1.88亿美金，新增2026年归母净利润 信 流通市值(亿港元) 235.89 预测 2.28 亿美金，对应同比增速分别为-45.9%/24.2%/21.3%，对应 EPS 分别为 息 总股本(亿股) 17.17 0.11/0.17/0.26美金。当前股价18.02港币对应2024-2026年21.8/13.6/8.8倍PE， 更 新 流通港股(亿股) 13.09 对应2024年0.6倍PB处在历史估 ...

Investment Rating - The report maintains a "Buy" rating for Huahong Semiconductor (1347.HK) and Huahong Company (688347.CH) [1][9] Core Views - Huahong's gross margin improved to 6.4% in Q1, exceeding company guidance and market expectations, with a projected median gross margin of 8% for Q2, indicating a continued upward trend [1] - The semiconductor foundry industry is in an upward cycle this year, particularly in China, with products like BCD, memory, and image sensors showing improved market conditions [1] - The company is on track to advance its 12-inch fab in Wuxi, with equipment expected to be moved in September and trial production anticipated in Q4 2024, leading to capacity release in 2025 [1] Financial Performance Summary - Q1 revenue decreased by 27% year-on-year, but gross margin improved from 4.0% in Q4 to 6.4% in Q1 [1] - The company expects EBITDA growth in the coming quarters, driven by improving operating profit margins from -16.9% in Q4 last year to -10.6% in Q1 this year [1] - The target EV/EBITDA for Huahong is set at 8.5x for 2024, with target prices of HKD 20.6 for the Hong Kong stock and RMB 43.6 for the A-share, representing potential upside of 21% and 35% respectively [1][3] Financial Metrics - Q1 2024 performance: Revenue of USD 460 million, gross profit of USD 30 million, and net profit of USD 32 million, with a gross margin of 6.4% [7] - The company’s total market capitalization is approximately HKD 37.79 billion and RMB 34.95 billion [3][9] - The stock price range over the past 52 weeks was HKD 13.8 to 29.8 for the Hong Kong stock and RMB 27.9 to 59.9 for the A-share [3]

Ladies and gentlemen, thank you for standing by and welcome to the Hua Hong Semiconductor's First Quarter 2024 Earnings Conference Call. The call is hosted by Mr. Zhenzhen Tang, President and Executive Director, and Mr. Daniel Wang, Executive Vice President and Chief Financial Officer. Please be advised that your dial-in is in a listen-only mode. However, At the conclusion of the management presentation there will be a question and answer session at which time you will receive instructions on how to partici ...

Ladies and gentlemen, thank you for standing by and welcome to the Hua Hong Semiconductor's First Quarter 2024 Earnings Conference Call. The call is hosted by Mr. Zhenzhen Tang, President and Executive Director, and Mr. Daniel Wang, Executive Vice President and Chief Financial Officer. Please be advised that your dial-in is in a listen-only mode. However, At the conclusion of the management presentation, there will be a question and answer session, at which time you will receive instructions on how to parti ...

香港交易及结算所有限公司、香港联合交易所有限公司及香港中央结算有限公司对本公告的内容概不负责，对其准 确性或完整性亦不发表任何声明，并明确表示，概不就因本公告全部或任何部分内容而产生或因依赖该等内容而引 致的任何损失承担任何责任。 HUA HONG SEMICONDUCTOR LIMITED 华虹半导体有限公司 （于香港注册成立之有限公司） （股份代号：01347） 新闻稿 二零二四年第一季度业绩公布 所有货币以美元列帐，除非特别指明。 本合并财务报告系依香港财务报告准则编制。 "华虹半导体二零二四年第一季度销售收入为 4.60 亿美元，符合指引预期；单季毛利率为 6.4%，略高 于指引。" "整体半导体市场的景气尚未摆脱低迷，且由于季节性和年度维修的影响，第一季度是代工企业的传统 淡季，但华虹半导体第一季度的产能利用率、销售收入、毛利率均实现环比提升，验证了公司特色工艺 的市场需求总体向好。" 中国香港 — 2024 年 5 月 9 日 — 全球领先的特色工艺纯晶圆代工厂华虹半导体有限公司（香港联交所 股票代号：01347；上交所科创板证券代码：688347) ("本公司")于今日公布截至二零二四年三月三 ...

3 Yin Chena Road Middle 上海市通力律师事务所关于华虹半导体有限公司 2024 年股东周年大会的法律意见书 致:华虹半导体有限公司 上海市通力律师事务所(以下简称"本所")接受华虹半导体有限公司(以下简称 "公司")的委托,指派本所郭璋师、王旭峰律师(以下简称"本所律师")根据《中 华人民共和国证券法》《上市公司股东大会规则》(以下合称"有关法律法规")及《华 虹半导体有限公司之组织章程细则》（以下简称"公司章程"）的规定就公司 2024 年 股东周年大会(以下简称"本次股东大会")相关事宜出具法律意见。 在本法律意见书中,本所仅对本次股东大会召集和召开的程序、出席本次股东大会 人员资格和召集人资格及表决程序、表决结果是否符合中国境内法律法规(不包括香港 特别行政区、澳门特别行政区以及台湾地区的法律、法规以及规范性文件)和公司章程 的规定发表意见,并不对本次股东大会所审议的议案内容以及该等议案所表述的事实或 数据的真实性和准确性发表意见,亦不对其他国家或地区法律管辖范围内的事项发表意 见。 24SH7200005/GG/pz/cm/D1 上海 SHANGHAI 北京 BEIJING 本所 ...

| 证券代码：688347 | 证券简称：华虹公司 | 公告编号：2024-017 | | --- | --- | --- | | 港股代码：01347 | 港股简称：华虹半导体 | | 华虹半导体有限公司 2024 年股东周年大会决议公告 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） 股东大会召开的时间：2024 年 5 月 9 日 （二） 股东大会召开的地点：中国香港特别行政区九龙么地道 64 号九龙香格里 拉大酒店 （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 | | 364 | | --- | --- | --- | | 普通股股东人数 | | 364 | | 其中：A | 股股东人数 | 348 | | 境外上市外资股股东人数 | | 16 | | 2、出席会议的股东所持有的表决权数量 | | 880,923,601 | | 普通股股东所持有表决权 ...

Financial Performance - In Q1 2024, Huahong Semiconductor reported sales revenue of $460 million, aligning with guidance expectations, and a gross margin of 6.4%, slightly above guidance [4]. - The company's net profit attributable to shareholders decreased by 78.76% year-on-year to approximately ¥221.74 million, primarily due to a decline in average selling prices [9]. - The operating cash flow for the quarter was ¥443.55 million, reflecting a 56.18% decrease compared to the previous year, attributed to lower cash received from sales and tax refunds [9]. - The company reported a decrease in diluted earnings per share by 83.54% to ¥0.13 [9]. - Total operating revenue for Q1 2024 was ¥3,297,290,706.10, a decrease of 24.6% compared to ¥4,374,300,427.29 in Q1 2023 [21]. - Operating profit for Q1 2024 was a loss of ¥325,448,232.28, compared to a profit of ¥902,583,094.35 in Q1 2023 [21]. - The company reported a net loss of ¥325,133,056.80 for Q1 2024, compared to a net profit of ¥902,964,889.56 in Q1 2023 [21]. - The total comprehensive income for the first quarter of 2024 was -172,727,803.40 RMB, while it was 967,984,293.17 RMB in the first quarter of 2023 [22]. - The basic earnings per share for Q1 2024 was 0.13 RMB, down from 0.80 RMB in Q1 2023 [22]. Cash Flow and Assets - Cash flow from operating activities for Q1 2024 was 443,549,494.96 RMB, a decrease from 1,012,192,400.58 RMB in Q1 2023 [25]. - Cash flow from investing activities showed a net outflow of -2,281,904,301.60 RMB in Q1 2024, compared to -1,489,259,999.89 RMB in Q1 2023 [26]. - Cash flow from financing activities generated a net inflow of 5,609,718,603.99 RMB in Q1 2024, significantly higher than 1,805,325,200.14 RMB in Q1 2023 [26]. - The cash and cash equivalents at the end of Q1 2024 amounted to 43,336,164,205.65 RMB, up from 15,245,189,360.85 RMB at the end of Q1 2023 [26]. - Total current assets as of March 31, 2024, reached approximately CNY 50.66 billion, an increase from CNY 46.53 billion as of December 31, 2023, representing a growth of about 8.5% [17]. - Cash and cash equivalents amounted to CNY 43.66 billion, up from CNY 39.86 billion, indicating an increase of approximately 7.0% [17]. - Accounts receivable stood at CNY 1.51 billion, slightly down from CNY 1.53 billion, reflecting a decrease of about 1.0% [17]. - Inventory was reported at CNY 4.44 billion, a minor decrease from CNY 4.45 billion, showing a decline of approximately 0.4% [17]. - Non-current assets totaled CNY 28.73 billion, compared to CNY 28.66 billion in the previous period, marking a slight increase of about 0.2% [17]. Research and Development - R&D expenses totaled ¥347.70 million, representing 10.55% of revenue, an increase of 2.96 percentage points year-on-year [6]. - Research and development expenses for Q1 2024 were ¥345,066,946.58, slightly up from ¥331,910,071.29 in Q1 2023 [21]. Shareholder Information - The company reported a total of 59,862 shareholders at the end of the reporting period [11]. - The largest shareholder, HKSCC Nominees Limited, holds 621,005,516 shares, representing 36.17% of total shares [11]. - Shanghai Hua Hong International, Inc. is the second-largest shareholder with 347,605,650 shares, accounting for 20.25% [11]. Future Outlook - The company expects Q2 2024 revenue to be between $470 million and $500 million, with a gross margin forecast of 6% to 10% [5]. - The first 12-inch production line is expected to operate at a monthly capacity of 94,500 wafers, with a second line under construction and projected to be operational by year-end [4]. - The company’s capacity utilization, sales revenue, and gross margin all showed a quarter-on-quarter improvement, indicating a positive market demand for its specialty processes [4]. Asset and Liability Overview - Total assets increased by 6.74% year-on-year to approximately ¥81.36 billion, while equity attributable to shareholders rose by 0.54% to approximately ¥43.59 billion [6]. - Total assets increased to ¥81,360,433,838.19 in Q1 2024 from ¥76,226,351,074.40 in Q1 2023, reflecting a growth of 6.5% [19]. - Total liabilities rose to ¥21,144,565,310.01 in Q1 2024, up from ¥20,735,545,554.93 in Q1 2023, marking an increase of 2.0% [19]. - Non-current assets totaled ¥30,698,682,802.27 in Q1 2024, compared to ¥29,696,173,376.39 in Q1 2023, indicating a growth of 3.4% [19]. - The total equity attributable to shareholders increased to ¥43,589,417,878.91 in Q1 2024 from ¥43,354,252,355.10 in Q1 2023, reflecting a growth of 0.5% [19]. - Deferred income tax liabilities decreased to ¥12,413,840.81 in Q1 2024 from ¥209,595,162.03 in Q1 2023, a reduction of 94.1% [19].

Financial Performance - Q1 2024 sales revenue was $460 million, down 27.1% year-over-year and up 1.0% quarter-over-quarter[6]. - Net profit attributable to shareholders was $31.8 million, a decrease of 79.1% year-over-year and a decrease of 10.1% quarter-over-quarter[12]. - The company reported a net loss of $25.3 million for Q1 2024, compared to a profit of $140.9 million in the same quarter last year[12]. - Sales revenue for the first quarter was $459.986 million, down 27.1% from $630.842 million in the same quarter last year[15]. - Total sales revenue for the first quarter of 2024 was $459.986 million, a decrease of 27.1% compared to $630.842 million in the same quarter of 2023[24]. - Gross profit for the quarter was $29.632 million, down from $202.197 million year-over-year[37]. - The company reported a basic earnings per share of $0.019, down from $0.116 in the same quarter last year[14]. Gross Margin and Utilization - Gross margin for Q1 2024 was 6.4%, significantly lower than 32.1% in the same quarter last year, but improved from 4.0% in the previous quarter[6]. - Gross margin decreased to 6.4% from 32.1% year-over-year, primarily due to a decline in average selling prices and lower capacity utilization[14]. - The utilization rate for production capacity was 91.7%, down from 103.5% year-over-year but up from 84.1% in the previous quarter[12]. - The overall capacity utilization rate was 91.7%, an increase of 7.6 percentage points from the previous quarter[25]. Future Outlook - The company expects Q2 2024 sales revenue to be between $470 million and $500 million, with a gross margin forecast of 6% to 10%[6]. - The semiconductor market remains sluggish, but the company has seen improvements in capacity utilization, sales revenue, and gross margin compared to the previous quarter[7]. Revenue Breakdown - Revenue from 8-inch wafers was $239.95 million, representing 52.2% of total sales, while 12-inch wafers generated $220.036 million, or 47.8% of total sales[16]. - Sales revenue from China was $365.695 million, accounting for 79.5% of total sales, down 23.4% year-over-year[19]. - Embedded non-volatile memory sales dropped 50.2% year-over-year to $119.214 million, mainly due to decreased demand for MCU and smart card chips[21]. - Revenue from discrete devices fell 38.4% year-over-year to $143.344 million, driven by lower demand and average selling prices for IGBT and MOSFET products[21]. - Sales revenue from 55nm and 65nm process nodes reached $94.5 million, a year-over-year increase of 61.5%, driven by increased demand for CIS and other power management products[23]. - Sales revenue from 90nm and 95nm process nodes was $88.5 million, a year-over-year decrease of 25.8%, primarily due to reduced demand for smart card chips[23]. - The electronics consumer segment contributed $287.863 million, accounting for 62.6% of total sales revenue, down 21.9% year-over-year[26]. Operating Expenses and Cash Flow - Operating expenses increased by 3.0% year-over-year to $78.5 million, primarily due to increased R&D spending[14]. - Net cash flow from operating activities was $40.660 million, a decrease of 69.2% year-over-year[31]. - The net cash flow from operating activities for the quarter was $40.7 million, a decrease of 69.2% year-over-year and 79.3% quarter-over-quarter, primarily due to reduced customer collections and government subsidies[9]. - The company reported a change in working capital and other items resulting in a cash outflow of $45,899, compared to an outflow of $118,952 in the previous year[42]. Capital Expenditures and Assets - Capital expenditures for the first quarter totaled $302.574 million, with $199.429 million allocated to Huahong Manufacturing[32]. - Total assets increased to $11.648 billion as of March 31, 2024, compared to $10.943 billion at the end of December 2023[32]. - As of March 31, 2024, total current assets amounted to $7.14 billion, an increase from $6.57 billion as of December 31, 2023[34]. - The current ratio improved to 7.4x from 6.8x in the previous quarter, indicating enhanced liquidity[34]. - Total assets as of March 31, 2024, were $10.68 billion, up from $9.97 billion at the end of the previous quarter[40]. Other Financial Metrics - The annualized return on equity was 2.0%, down from 19.6% year-over-year and slightly down from 2.4% in the previous quarter[12]. - The company experienced a foreign exchange loss of $8,817 during the quarter, contrasting with a gain of $17,946 in the previous year[42]. - Depreciation and amortization expenses rose to $133,088, compared to $120,338 in the same quarter last year[42]. - The company received $689,430 from non-controlling interest capital injections, significantly higher than $296,197 in the previous year[42].