证券代码：603690 证券简称：至纯科技 公告编号：2025-055 上海至纯洁净系统科技股份有限公司 为子公司提供担保的进展公告 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、准确性和完整性承担法律责任。 重要内容提示： 被担保人名称及是否为关联担保：上海至纯系统集成有限公司（以下简称 "系统集成"）、至微半导体（上海）有限公司（以下简称"至微半导体"）、 江苏启微半导体设备有限公司（以下简称"江苏启微"）、上海波汇科技有限公 司（以下简称"波汇科技"）、珐成制药系统工程（上海）有限公司（以下简称 "珐成制药"）。本次担保为对全资及控股子公司提供的担保，不属于关联担保。 本次担保金额及已实际为其提供的担保余额：因公司全资及控股子公司系 统集成、至微半导体、江苏启微、波汇科技、珐成制药向银行申请授信贷款事项， 公司与中国民生银行股份有限公司上海分行、中国邮政储蓄银行股份有限公司上 海长宁区支行、上海浦东发展银行股份有限公司南通分行、中国银行股份有限公 司上海自贸试验区分行、广发银行股份有限公司上海分行分别签订了《最高额保 证合同》和《小企业保证合同》。 ...

Core Viewpoint - The financial performance of Zhichun Technology (603690.SH) reflects a complex situation of both "highlights" and "concerns," with revenue growth but a significant drop in net profit, indicating potential underlying issues in cash flow management and financial stability [1][3]. Financial Performance - Since its IPO in 2017, Zhichun Technology has seen continuous revenue growth, reaching a historical high of 3.605 billion yuan in 2024, while net profit plummeted by 93.75% to 23.5975 million yuan during the same period [1]. - In Q1 2024, the company reported revenue of 728 million yuan, a year-on-year decline of 10.32%, and a net profit of 19.0161 million yuan, down 70.09% year-on-year [1]. Cash Flow and Profitability - The company has consistently reported negative cash flow from operating activities from 2016 to 2024, with a cumulative outflow exceeding 2.8 billion yuan, indicating a significant divergence between net profit and cash flow [1][4]. - As of the end of 2024, the company's accounts receivable amounted to 3.284 billion yuan, with a ratio of accounts receivable to revenue of approximately 0.91, significantly higher than industry peers, suggesting lower revenue quality and potential risks of bad debts [4][5][6]. Debt and Financing - As of Q1 2024, Zhichun Technology's short-term borrowings and current non-current liabilities totaled approximately 4.379 billion yuan, while cash and cash equivalents stood at only 874 million yuan, indicating a high reliance on external financing [3][11]. - The company's interest-bearing debt ratio reached 43.43% in Q1 2024, significantly higher than industry averages, with total interest-bearing debt exceeding 5.9 billion yuan [11][12]. Guarantees and Financial Risks - The total amount of guarantees provided by Zhichun Technology accounted for 64.39% of its net assets as of the end of 2024, raising concerns about financial vulnerability in case of defaults by guaranteed entities [11][12]. - The company has engaged in multiple rounds of financing since its IPO, but the effectiveness of these fundraising efforts has been questioned, as many projects have not met expected outcomes [9][11]. Future Outlook - The company aims to focus on the ramp-up of high-end cleaning equipment and the management of cash flow and accounts receivable in 2025, indicating a strategic shift to address current financial challenges [14].

证券代码：603690 证券简称：至纯科技 公告编号：2025-054 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、准确性和完整性承担法律责任。 上海至纯洁净系统科技股份有限公司 关于股份回购进展公告 重要内容提示： | 回购方案首次披露日 | 2024/10/29 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 个月 12 | | 预计回购金额 | 8,000万元~16,000万元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | 累计已回购股数 | 2,384,601股 | | 累计已回购股数占总股本比例 | 0.62% | | 累计已回购金额 | 5,992.68万元 | | 实际回购价格区间 | 24.20元/股~25.85元/股 | 一、回购股份的基本情况 上海至纯洁净系统科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开第五届董事会第八次会议审议通过《关于以集中竞价交易方式回购股份 方案的议案》，同 ...

一、本次交易的基本情况 上海至纯洁净系统科技股份有限公司（以下简称"公司"）正在筹划通过发 行股份及支付现金方式购买贵州威顿晶磷电子材料股份有限公司（以下简称"威 顿晶磷"）83.7775%股份并募集配套资金（以下简称"本次交易"）。本次交易完 成后，威顿晶磷将成为公司的控股子公司。本次交易预计不构成《上市公司重大 资产重组管理办法》规定的重大资产重组；本次交易不会导致公司实际控制人发 生变更，不构成重组上市。 二、本次交易的进展情况 根据上海证券交易所的相关规定，经公司申请，公司股票自2025年2月17日 （星期一）开市起开始停牌，预计停牌时间不超过10个交易日。详见公司2025 年2月15日披露于上海证券交易所网站的《关于筹划发行股份及支付现金购买资 产并募集配套资金事项的停牌公告》（公告编号：2025-017）； 停牌期间，公司积极组织各方推进本次交易的相关工作，并定期发布了停牌 进展公告。详见公司2025年2月22日披露于上海证券交易所网站的《关于筹划发 行股份及支付现金购买资产并募集配套资金事项的停牌进展公告》（公告编号： 2025-018）； 证券代码：603690 证券简称：至纯科技 公告编号： ...

证券代码：603690 证券简称：至纯科技 公告编号：2025-053 上海至纯洁净系统科技股份有限公司 为子公司提供担保的进展公告 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、准确性和完整性承担法律责任。 重要内容提示： 被担保人名称及是否为关联担保：上海至嘉半导体气体有限公司（以下简 称"至嘉半导体"）。本次担保为对公司全资子公司提供的担保，不属于关联担 保。 本次担保金额及已实际为其提供的担保余额：本次因公司全资子公司至嘉 半导体向银行申请授信贷款事项，公司与兴业银行股份有限公司上海卢湾支行签 订了《最高额保证合同》。本次公司为至嘉半导体提供担保金额为 1,000 万元， 截至本公告日累计为其提供担保余额为 59,620.43 万元。本次担保事项后的累计 担保金额，均在公司股东会批准的担保额度范围内。 本次担保是否有反担保：无 对外担保逾期的累计数量：无 特别风险提示：本次被担保人 2024 年末资产负债率超过 70%，敬请投资 者注意相关风险。 一、担保情况概述 经上海至纯洁净系统科技股份有限公司（以下简称"公司"或"本公司"） 2024 年第 ...

Core Viewpoint - The semiconductor industry is experiencing significant growth, highlighted by the launch of Xiaomi's first self-developed flagship processor "玄戒O1," which utilizes advanced 3nm technology, indicating a shift in the competitive landscape of mobile SoC chips [3][4]. Group 1: Market Performance - As of May 26, 2025, the China Securities Semiconductor Industry Index (931865) rose by 0.84%, with key stocks such as 至纯科技 (603690) increasing by 6.37% and 富创精密 (688409) by 5.38% [3]. - The Semiconductor Industry ETF (159582) has seen a 43.30% increase over the past year, closing at 1.39 yuan [3]. - The ETF's scale grew by 678.42 million yuan over the past three months, ranking it in the top half among comparable funds [4]. Group 2: Fund Performance Metrics - The Semiconductor Industry ETF has achieved a net value increase of 39.56% over the past year, placing it in the top 4.27% of 2808 index stock funds [4]. - The ETF's highest monthly return since inception was 20.82%, with a maximum consecutive monthly gain of 45.46% [4]. - The ETF's Sharpe ratio stands at 1.10, indicating a favorable risk-adjusted return [5]. Group 3: Key Holdings - As of April 30, 2025, the top ten weighted stocks in the China Securities Semiconductor Industry Index accounted for 76.35% of the index, with 北方华创 (002371) holding the highest weight at 15.51% [5][7]. - Other significant stocks include 中微公司 (688012) at 12.80% and 中芯国际 (688981) at 11.67% [7].

星标 ★ IPO日报 精彩文章第一时间推送 最近A股市场重组并购热一浪接着一浪，一些涉及并购的公司，其股价动不动就蹭蹭涨个不停。一 些敢于冒险的股民，特别是以做龙头著称，敢于打板的游资，因此赚得盆满钵满。 笔者发现，在这些轰轰烈烈的并购大军中，有一些上市公司对曾IPO但未成功的企业，特别钟情。 AI制图 比如，常州光洋轴承股份有限公司（002708.SZ）正在筹划发行股份及支付现金方式购买宁波银球 科技股份有限公司100%股权并募集配套资金事项。据IPO日报报道，银球科技在2022年启动A股 上市辅导工作。 前不久，天津汽车模具股份有限公司（002510.SZ）与东实汽车科技集团股份有限公司股东德盛拾 陆号企业管理（天津）合伙企业签署了《股权收购意向协议》，公司拟以现金方式分步收购德盛拾 陆号持有的东实股份50%股权。 由于公司已持有标的公司25%的股权，本次交易完成后，东实股 份将成为公司的控股子公司。 而东实股份曾申请在深市主板上市，后在2024年5月撤单。 光洋股份和天汽模都不过是今年以来上市公司追求IPO失败企业大军中的一员。据笔者所知，目前 上海概伦电子股份有限公司（688206.SH）拟收购成都锐 ...

证券代码：603690 证券简称：至纯科技 公告编号：2025-051 上海至纯洁净系统科技股份有限公司 为子公司提供担保的进展公告 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、准确性和完整性承担法律责任。 重要内容提示： 被担保人名称及是否为关联担保：上海至纯系统集成有限公司（以下简称 "系统集成"）、至微半导体（上海）有限公司（以下简称"至微半导体"）。 本次担保为对公司全资及控股子公司提供的担保，不属于关联担保。 本次担保金额及已实际为其提供的担保余额：本次因公司全资及控股子公 司系统集成、至微半导体向银行申请授信贷款事项，公司与盛京银行股份有限公 司上海分行、上海农村商业银行股份有限公司张江科技支行分别签订了《最高额 保证合同》《保证合同》。本次公司为系统集成提供担保金额为 2,000 万元，截 至本公告日累计为其提供担保余额为 60,287.24 万元；本次公司为至微半导体提 供担保金额为 4,000 万元，截至本公告日累计为其提供担保余额为 73,051.80 万 元。本次担保事项后的累计担保金额，均在公司股东会批准的担保额度范围内。 本次 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued guidelines encouraging listed companies to establish long-term incentive mechanisms, but some companies misuse stock incentive plans for personal gain, leading to significant discrepancies between executive compensation and company performance [1][2]. Group 1: Stock Incentive Plans - In 2023, 175 companies in A-shares had stock incentive plans that failed to meet performance targets, yet executive salaries increased despite poor performance [1]. - Honghe Technology and Zhichun Technology have been criticized for promoting stock incentive plans while their major shareholders and executives continuously reduce their holdings [2][11]. Group 2: Honghe Technology - Honghe Technology's stock option incentive plan aimed to grant 5.5 million stock options, with performance targets set for net profit over three years [3][4]. - The company's actual net profits from 2022 to 2024 were 318 million, 287 million, and 176 million yuan, respectively, showing a decline in meeting performance targets, especially in 2024 [4]. - Despite failing to meet performance targets, executive compensation at Honghe Technology surged, with total pre-tax remuneration for executives reaching 27.72 million yuan in 2024, a 165.72% increase from the previous year [7][8]. Group 3: Zhichun Technology - Zhichun Technology has implemented multiple stock incentive plans but has seen its market value drop significantly, raising questions about the effectiveness of its market value management [11][17]. - From 2021 to 2024, Zhichun Technology's net profits were 162 million, 285 million, 102 million, and -57 million yuan, with significant declines in 2023 and 2024 [13]. - Executive compensation at Zhichun Technology increased by 73.61% in 2024, despite the company's poor performance and failure to meet incentive plan targets [13]. Group 4: Regulatory Concerns - The CSRC has emphasized a "zero tolerance" policy towards companies that engage in "pseudo-market value management," which includes misleading disclosures and insider trading [17]. - Both Honghe Technology and Zhichun Technology have faced scrutiny for their internal controls and the actions of their executives, suggesting a need for regulatory intervention [9][10].

Group 1 - The semiconductor materials ETF (562590) has seen a decline of 1.20%, with a latest price of 1.07 yuan, while it has increased by 30.22% over the past year [3][4] - The liquidity of the semiconductor materials ETF shows a turnover rate of 0.95% with a transaction volume of 302.02 million yuan, and an average daily transaction volume of 16.30 million yuan over the past year, ranking it among the top two comparable funds [3] - The ETF's scale has grown significantly, with an increase of 609.55 million yuan over the past week, placing it second among comparable funds [3] Group 2 - The semiconductor materials ETF has reached a new high of 296 million shares, marking a peak in the last month [3] - The ETF has experienced continuous net inflows over the past four days, with a maximum single-day net inflow of 542.63 million yuan, totaling 1.30 billion yuan, and an average daily net inflow of 325.99 million yuan [3] - As of May 14, 2025, the tracking error of the semiconductor materials ETF over the past two months is 0.013%, the highest among comparable funds [4] Group 3 - The semiconductor sector is expected to see a recovery in overall performance in 2024, with the first quarter of this year showing a continued recovery trend [4] - The integrated circuit manufacturing and analog sub-sectors have returned to profitability, while other sub-sectors have achieved double-digit year-on-year growth in net profit, driven by terminal recovery, AI computing power construction, and demand in materials and advanced packaging [4] - The index tracks 40 listed companies involved in semiconductor materials and equipment, reflecting the overall performance of these securities [4] Group 4 - The top ten weighted stocks in the semiconductor materials equipment index account for 62% of the index, with notable companies including Northern Huachuang (002371) and Zhongwei Company (688012) [4][6] - The weightings of the top stocks include Northern Huachuang at 16.44%, Zhongwei Company at 13.55%, and Hu Silicon Industry at 5.61% [6]