证券代码：688012 证券简称：中微公司 公告编号：2024-063 中微半导体设备（上海）股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2024 年 10 月 31 日(星期四) 上午 09:00-10:00 会议召开时间：2024 年 10 月 31 日 上午 09:00-10:00 会议召开地点：上证路演中心 会议召开方式：上证路演中心网络互动 三、参会人员 投资者可于 2024 年 10 月 24 日(星期四) 至 10 月 30 日(星期三)前登录 上证路演中心网站首页点击"提问预征集"栏目或通过电子邮件的形式发送至 公司投资者关系邮箱(IR@amecnsh.com)，公司将在说明会上对投资者普遍关注 的问题进行回答。 中微半导体设备（上海）股份有限公司（以下简称"公司"）拟于 2024 年 10 月 29 日收盘后在上海证券交易所网站（www.sse.com.cn）披露公司 2024 年 第三季度报告。为了便于广大投 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [1][7]. Core Views - The company's revenue growth is driven by the strong performance of etching equipment, with a significant increase in new orders, suggesting a positive outlook for the future [1]. - In the first half of 2024, the company achieved a revenue of 3.448 billion yuan, representing a year-on-year growth of 36.46%, while the net profit attributable to shareholders decreased by 48% to 517 million yuan [1]. - The company's etching equipment revenue reached 2.698 billion yuan in the first half of 2024, a year-on-year increase of approximately 56.68%, accounting for 78.26% of total revenue [1]. Financial Summary - The company is projected to achieve revenues of 8.260 billion yuan, 12.036 billion yuan, and 15.227 billion yuan for the years 2024, 2025, and 2026, respectively, with growth rates of 31.87%, 45.73%, and 26.51% [3][5]. - The net profit attributable to shareholders is expected to be 1.886 billion yuan, 2.670 billion yuan, and 3.359 billion yuan for the years 2024, 2025, and 2026, with corresponding growth rates of 5.61%, 41.57%, and 25.81% [3][5]. - The company’s diluted earnings per share (EPS) are projected to be 3.04 yuan, 4.30 yuan, and 5.41 yuan for the years 2024, 2025, and 2026, respectively [3][5]. Order and Production Insights - The company received new orders totaling 4.7 billion yuan in the first half of 2024, a year-on-year increase of approximately 40.3%, with etching equipment orders growing by about 50.7% to 3.94 billion yuan [1]. - The company has maintained a leading position in the domestic semiconductor equipment market, with significant growth in the shipment of plasma etching equipment [1].

Investment Rating - The report initiates coverage on Advanced Micro-Fabrication Equipment Inc (AMEC) with a "Buy" rating [3][32] Core Views - AMEC is a leading domestic etching equipment manufacturer, expanding towards platform-based development [1] - The company's MOCVD equipment dominates the blue and green LED production line market share [2] - AMEC's CCP etching machine Primo SD-RIE has entered verification with leading domestic logic chip manufacturers [2] - The company's Primo UD-RIE has demonstrated capability to etch structures with aspect ratios ≥60:1 [2] - ICP etching equipment Primo Nanova series has achieved >100% CAGR in installed chambers over the past three years [2] Financial Performance - Revenue is projected to grow from 6,264 million yuan in 2023 to 13,870 million yuan in 2026, with a CAGR of 30% [1][29] - Net profit is expected to increase from 1,786 million yuan in 2023 to 2,928 million yuan in 2026 [1][29] - EPS is forecasted to rise from 2.87 yuan in 2023 to 4.71 yuan in 2026 [1][29] - P/E ratio is expected to decline from 64.6 in 2023 to 39.4 in 2026 [1] Industry Outlook - Global semiconductor equipment market is projected to recover to $105.3 billion in 2024 [2][18] - China's wafer production capacity is expected to lead globally by 2026, driving long-term semiconductor demand [2][18] - Domestic substitution in semiconductor equipment is gaining momentum [2] Product Development - AMEC's 3D strategy is progressing steadily, with etching and MOCVD equipment maintaining competitive advantages [3] - CCP etching equipment has achieved multi-batch sales, with Damascene etching process progressing smoothly [3] - ICP etching equipment has expanded its process coverage in advanced logic chips, DRAM, and 3D NAND [24] - The company has developed 4 new thin film deposition products [27] Market Position - AMEC has accumulated over 2,800 CCP etching reaction chambers delivered by end of 2023 [23] - The company's etching equipment covers most CCP etching applications above 28nm and many below 28nm [23] - AMEC maintains a leading position in the international GaN-based MOCVD equipment market [25] R&D and Innovation - R&D investment reached 1,262 million yuan in 2023, accounting for 20.15% of revenue [23] - The company has over 20 new equipment developments in progress [15] - R&D personnel increased to 967 in H1 2024, representing 46.38% of total staff [15]

证券代码：688012 证券简称：中微公司 公告编号：2024-062 中微半导体设备（上海）股份有限公司 关于 2020 年股票增值权激励计划 第四个行权期行权结果公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 一、 本次股票增值权行权的决策程序及相关信息披露 （1）2020 年 3 月 18 日，公司召开第一届董事会第八次会议，会议审议通过 了《关于公司<2020 年股票增值权激励计划（草案）>及其摘要的议案》、《关于 公司<2020 年限制性股票、股票增值权激励计划实施考核管理办法>的议案》以 及《关于提请股东大会授权董事会办理股权激励相关事宜的议案》等议案。公司 独立董事就激励计划相关议案发表了独立意见。 同日，公司召开第一届监事会第五次会议，审议通过了《关于公司<2020 年 股票增值权激励计划（草案）>及其摘要的议案》、《关于公司<2020 年限制性股 票、股票增值权激励计划实施考核管理办法>的议案》等议案，公司监事会对激 励计划的相关事项进行核实并出具了相关核查意见。 （2）2020 年 ...

Investment Rating - The report assigns a "Buy" rating to the company, indicating a potential upside in the stock price [3][4]. Core Insights - The company is a leading player in the domestic semiconductor etching equipment sector, enhancing its market share while continuously expanding its product offerings in high-end semiconductor equipment [4]. - Despite a significant increase in R&D expenses leading to a decline in net profit, the company maintains a positive outlook due to its high R&D intensity, which is expected to bolster long-term competitiveness [4]. - The demand for advanced semiconductor processes in China is intensifying, particularly in light of U.S. restrictions on high-tech industries, creating a larger market space for domestic equipment manufacturers [4]. - The company reported a revenue of 3.45 billion RMB in the first half of 2024, a year-over-year increase of 36.5%, while net profit decreased by 48.5% due to previous equity sales [4]. - The company has secured approximately 4.7 billion RMB in new orders in the first half of 2024, reflecting a year-over-year growth of about 40% [4]. Financial Summary - The company is projected to achieve net profits of 1.8 billion RMB, 2.3 billion RMB, and 2.76 billion RMB for the years 2024, 2025, and 2026, respectively, with year-over-year growth rates of 1%, 28%, and 20% [4][6]. - The earnings per share (EPS) are expected to be 2.89 RMB, 3.7 RMB, and 4.44 RMB for the same years, with corresponding P/E ratios of 42, 33, and 27 [4][6]. - The company’s revenue is forecasted to grow from 8.31 billion RMB in 2024 to 13.05 billion RMB in 2026 [8].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding 15% over the next six months compared to the CSI 300 index [1][6]. Core Views - The company is positioned to benefit significantly from the domestic shift towards local semiconductor equipment, particularly as Yangtze Memory Technologies accelerates its transition from American to domestic equipment [1]. - The company has a strong order backlog, with expectations of new orders exceeding 7.5 billion yuan in the first three quarters of 2024, representing over 50% year-on-year growth [1]. - The company is actively expanding its product lines, including etching equipment, thin film deposition equipment, and inspection equipment, which are expected to drive robust growth [2]. Summary by Sections Investment Highlights - Yangtze Memory Technologies is rapidly replacing American equipment with domestic alternatives, benefiting companies like the report's subject [1]. - The company reported a significant increase in etching equipment revenue, reaching 2.698 billion yuan in the first half of 2024, a year-on-year growth of 56.68% [1]. - The company anticipates a total of 11 to 13 billion yuan in new orders for 2024, with a projected shipment increase of over 200% year-on-year [1]. Financial Projections - Revenue projections for 2024 to 2026 are set at 8.368 billion, 11.163 billion, and 14.592 billion yuan, respectively, with growth rates of 33.6%, 33.4%, and 30.7% [2]. - The net profit attributable to the parent company is expected to be 1.810 billion, 2.396 billion, and 3.235 billion yuan for the same years, with growth rates of 1.4%, 32.4%, and 35.0% [2]. - The company's gross margin is projected to remain stable, around 46% over the forecast period [2]. Market Position and Product Development - The company has established itself as a leader in the domestic etching equipment market, with a significant increase in market share and technological advancements [1]. - The company is focusing on high-aspect-ratio etching technologies and has made substantial progress in developing ultra-low temperature etching technologies [1]. - New product lines, including the Primo TwinStar® and LPCVD equipment, have successfully entered customer validation stages, indicating strong market demand [2].

证券代码：688012 证券简称：中微公司 公告编号：2024-061 中微半导体设备（上海）股份有限公司 关于副总经理、核心技术人员变动的公告 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、准确性和完整性依法承担法律责任。 中微半导体设备（上海）股份有限公司（以下简称"中微公司"或"公司"） 董事会于近日收到倪图强先生、杨伟先生提交的书面辞职报告。倪图强先生 因个人原因，申请辞去公司副总经理、核心技术人员职务。杨伟先生因个人 原因，申请辞去公司核心技术人员职务。辞职后，倪图强先生、杨伟先生仍 在公司任职。 公司拥有专业的研发技术团队及完整的研发体系，能够支持公司现有及未来 核心技术及产品的持续研发工作。本次核心技术人员的变动不会对公司现有 项目研发进展、持续经营能力、核心竞争力产生重大不利影响。 （一）核心技术人员的具体情况 倪图强先生，1962 年生，美国国籍，中国科学技术大学学士、硕士，美国德 州大学博士、博士后。2004 年 8 月加入中微公司，现任中微公司副总经理、核心 技术人员。截至本公告披露日，倪图强先生直接持股 764,358 股，所持股 ...

一、集中竞价减持主体减持前基本情况 | | | 持股数量 | | | | --- | --- | --- | --- | --- | | 股东名称 | 股东身份 | | 持股比例 | 当前持股股份来源 | | | | （股） | | | 证券代码：688012 证券简称：中微公司 公告编号：2024-060 中微半导体设备（上海）股份有限公司 董监高集中竞价减持股份结果公告 本公司董事会、全体董事及相关股东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、准确性和完整性依法承担法律 责任。 重要内容提示： （一）董监高因以下事项披露集中竞价减持计划实施结果： 披露的减持时间区间届满 | 股东名称 | 减持数量 | 减持比例 | 减持期间 | 减持方式 | 减持价格区 间 | 减持总金额 | 减持完成情 | 当前持股 数量 | 当前持股 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | （股） | | | | （元/股） | （元） | 况 | （股） | 比例 | | 尹志尧 | 230,000 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 175.25 CNY [1][4] Core Insights - The company has experienced rapid revenue and order growth, with a 36% year-on-year increase in revenue for the first half of 2024, reaching 3.45 billion CNY. However, the net profit attributable to the parent company decreased by 48% to 517 million CNY due to increased R&D expenses and changes in accounting standards [1][4] - The company’s etching equipment revenue grew by 57% to 2.7 billion CNY, with new orders increasing by 51% to 3.94 billion CNY, indicating a significant market share gain in key etching processes for advanced logic and memory devices [1][4] - The thin film deposition equipment has started to contribute, with the first sales of LPCVD equipment generating 28 million CNY in revenue and 168 million CNY in new orders [1][4] Financial Summary - Revenue is projected to grow from 6,264 million CNY in 2023 to 8,384 million CNY in 2024, reflecting a 34% year-on-year increase. The net profit attributable to the parent company is expected to decrease to 1,444 million CNY in 2024, down from 1,786 million CNY in 2023 [1][6] - The gross margin is forecasted to decline to 41.5% in 2024, while the net margin is expected to be 17.2% [1][6] - The company’s return on equity (ROE) is projected to be 7.8% in 2024, increasing to 13.6% by 2026 [1][6]

Investment Rating - The investment rating for the company is "Neutral" [2][11] Core Viewpoints - The company has experienced significant growth in plasma etching equipment revenue, with a 50.7% year-on-year increase in new orders for the first half of 2024 [6][7] - The company achieved a revenue of 3.448 billion yuan in the first half of 2024, representing a year-on-year increase of 36.46% [6][8] - The company is planning to develop more products in the LPCVD equipment category, with new orders amounting to 168 million yuan in the first half of 2024 [7][8] - The company expects total new orders to exceed 7.5 billion yuan in the first three quarters of 2024, a year-on-year increase of over 50% [8] Summary by Sections Financial Performance - In the first half of 2024, the company's revenue from plasma etching equipment reached 2.698 billion yuan, up 56.68% year-on-year, while MOCVD equipment revenue fell by 49.04% to 152 million yuan [6][8] - The company's gross profit margin for the first half of 2024 was 41.32%, a decrease of 4.57 percentage points [6][8] - The company forecasts revenues of 8.2 billion yuan, 11.6 billion yuan, and 14.05 billion yuan for 2024E, 2025E, and 2026E respectively, with year-on-year growth rates of 30.92%, 41.47%, and 21.10% [7][11] Order and Delivery Insights - The company has delivered a record number of etching equipment, with new orders for etching equipment reaching 3.94 billion yuan in the first half of 2024, a year-on-year increase of 50.7% [6][7] - The company has accumulated over 3,600 CCP etching reaction chambers produced and shipped by June 2024 [6][8] Market Position and Future Outlook - The company is positioned as a leader in the MOCVD market for GaN-based LEDs and is developing new products for various applications, including deep UV LEDs and Mini-LEDs [8][9] - The company plans to expand its market share in the semiconductor equipment sector, particularly in advanced processes and mature process expansions in domestic wafer fabs [8][9]