Group 1: Anji Technology - Anji Technology continues to research and develop in the fields of electroplating solutions and additives, with smooth progress in local production for 2024 [1] - Significant growth in functional wet electronic chemicals, particularly in post-etch cleaning and post-polishing cleaning solutions, with an increase in the proportion of advanced process products [1] - The company adheres to a globalization strategy, with normal development of overseas customer cooperation projects [1] - The gross margin is expected to improve in 2024 due to product diversification and enhanced production efficiency [1] - Revenue in Q1 2025 may not align with some customers' performance due to broad business scope and low customer concentration, leading to cautious demand outlook in the second half of the year [1] - The company is strengthening its core raw material supply capabilities to ensure stability and competitiveness [1] Group 2: Haineng Industrial - Haineng Industrial has established a factory in Vietnam since 2018 to mitigate the impact of US tariffs, primarily handling export orders to the US [2] - The company focuses on technological innovation in mid-to-high-end fully functional sweeping and mopping robots, addressing issues like hair entanglement and smart cleaning [2] - To improve profitability, the company plans to enhance the scale of its incubated product lines and pursue vertical integration [2] - Projected revenue for 2024 is 2.213 billion yuan, representing a year-on-year growth of 16.26%, while Q1 2025 revenue is expected to reach 679 million yuan, a 66.60% increase [2] - New product categories such as cleaning robots, smart security products, and energy storage systems have achieved initial breakthroughs [2] - Future profit growth will depend on product line expansion and achieving scale, particularly in gaming power supplies, smart security, cleaning robots, and energy storage systems [2] - The chairman believes that faster speeds, higher power, and smarter technological breakthroughs will drive the development of the electronics industry [2] Group 3: Company Overview - Shenzhen Kaifeng Investment Management Co., Ltd. is a macro-hedge fund management company investing in global commodities, bonds, equity assets, and derivatives [3] - The company is a member of the China Fund Industry Association and the China Futures Association, with private fund management qualifications approved by the China Securities Investment Fund Association [3] - Kaifeng Investment has received multiple awards for its performance and scale in the domestic market, including "2014 Golden Bull Private Fund Management Company (Macro Futures Strategy)" [3] - The company emphasizes the investment philosophy of "details hide industrial codes, research discovers value core," focusing on macro and industrial fundamental research [3] - The research covers major trading varieties in domestic and international futures markets, utilizing in-depth industry chain research and quantitative methods to assist trading decisions [3] - In 2016, the company aimed to strengthen communication and cooperation with real enterprises, providing comprehensive solutions including industry consulting and cooperative hedging [3]

| 证券代码：688019 | 股票简称：安集科技 | 公告编号：2025-034 | | --- | --- | --- | | 债券代码：118054 | 债券简称：安集转债 | | 安集微电子科技（上海）股份有限公司 关于公司2025年限制性股票激励计划 内幕信息知情人买卖公司股票情况的自查报告 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。 安集微电子科技（上海）股份有限公司（以下简称"公司"）于2025年4月 14日召开第三届董事会第十八次会议，审议通过了《关于公司<2025年限制性股 票激励计划（草案）>及其摘要的议案》等相关议案，并于2025年4月16日在上海 证券交易所网站（www.sse.com.cn）披露了相关公告。 公司根据上述核查对象买卖公司股票的记录，结合激励计划的进程对上述核 查对象的交易行为进行了审核，并经上述核查对象出具书面说明及承诺，确认上 述核查对象交易公司股票情形发生在其知悉本次激励计划相关信息日期前，亦未 有任何人员向其泄露激励计划的相关信息，其在自查期间买卖公司股票的行为系 基于其 ...

| 证券代码：688019 | 证券简称：安集科技 | 公告编号：2025-033 | | --- | --- | --- | | 债券代码：118054 | 债券简称：安集转债 | | 安集微电子科技（上海）股份有限公司 2024年年度股东大会决议公告 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： 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 5 月 14 日 （二） 股东大会召开的地点：上海市华东路 5001 号金桥综合保税区 T6-5 公司 一楼会议室 （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 | 148 | | --- | --- | | 普通股股东人数 | 148 | | 2、出席会议的股东所持有的表决权数量 | 63,656,862 | | 普通股股东所持有表决权数量 | 63,656,862 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 49.3118 | | ...

地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话: 02120511000 传真: 02120511999 邮编: 200120 上海市锦天城律师事务所 上海市锦天城律师事务所 关于安集微电子科技（上海）股份有限公司 2024 年年度股东大会的 法律意见书 锦 天 城 律 师 事 务 所 ALLBRIGHT LAW OFFICES 法律意见书 上海市锦天城律师事务所 关于安集微电子科技(上海)股份有限公司 2024 年年度股东大会的 法律意见书 致:安集微电子科技(上海)股份有限公司 上海市锦天城律师事务所(以下简称"本所")接受安集徽电子科技(上海) 股份有限公司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以 下简称"《公司法》"）、《中华人民共和国证券法》(以下简称"《证券法》"）、 《上市公司股东会规则》(以下简称"《股东会规则》")等法律、法规、规范 性文件和《安集微电子科技(上海)股份有限公司章程》(以下简称"《公司章 程》"）的有关规定,指派律师列席公司 2024年年度股东大会(以下简称"本次股 东大会"），对本次股东大会相关事项进行见证，并依法出具本法 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the near term [1][5]. Core Views - The company has demonstrated high growth in performance, with strong progress in product research, validation, and ramp-up, leading to an optimistic outlook [1][5]. - The company reported a revenue of RMB 1.835 billion for 2024, representing a year-on-year increase of 48.24%, and a net profit of RMB 534 million, up 32.51% year-on-year [8][9]. - The report highlights the steady increase in market share for the company's polishing liquids, with a global market share rising from approximately 7% to 11% over the past three years [8]. Financial Performance Summary - For 2024, the company achieved a total revenue of RMB 1,835 million, with a growth rate of 48.24% compared to 2023 [9]. - The gross profit margin for 2024 was 58.45%, an increase of 2.64 percentage points year-on-year, while the net profit margin was 29.08%, a decrease of 3.45 percentage points [8]. - In Q1 2025, the company reported revenue of RMB 545.28 million, a year-on-year increase of 44.08%, and a net profit of RMB 168.83 million, up 60.66% year-on-year [11]. Market Position and Growth Prospects - The company’s polishing liquid revenue reached RMB 1.545 billion in 2024, with a year-on-year growth of 43.73% and a gross margin of 61.16% [8]. - The global semiconductor CMP polishing materials market is projected to grow from USD 3.42 billion in 2024 to USD 3.62 billion in 2025, with a compound annual growth rate (CAGR) of 5.6% from 2024 to 2028 [8]. - The company’s functional wet electronic chemicals segment saw revenue growth of 78.91% in 2024, indicating strong demand and market expansion [8].

| 证券代码：688019 | 证券简称：安集科技 | 公告编号：2025-031 | | --- | --- | --- | | 债券代码：118054 | 债券简称：安集转债 | | 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：2025 年 5 月 15 日（星期四）15:00-16:30 网 络 互 动 地 址 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/）、全景网"投资者关系互动平台"（网址：http://ir.p5w.net） 会议召开方式：网络互动方式 投资者可于 2025 年 5 月 8 日（星期四）至 5 月 14 日（星期三）16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目、全景网"投资者关系互动平台" 首页点击"业绩说明会问题征集"专题页面或通过公司邮箱 IR@anjimicro.com 进行 提问。公司将在说明会上对投资者普遍关注的问题进行回答。 安集微电子科技（上海） ...

安集微电子科技（上海）股份有限公司 2024 年年度股东大会会议资料 股票简称：安集科技 股票代码：688019 债券简称：安集转债 债券代码：118054 安集微电子科技（上海）股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 14 日 1 安集微电子科技（上海）股份有限公司 2024 年年度股东大会会议资料 目录 | | 年年度股东大会会议须知 3 | 2024 | | --- | --- | --- | | | 年年度股东大会会议议程 5 | 2024 | | | 年年度股东大会会议议案 7 | 2024 | | 关于 | 2024 年度董事会工作报告的议案 7 | | | 关于 | 2024 年度监事会工作报告的议案 8 | | | 关于 | 2024 年年度报告及其摘要的议案 9 | | | 关于 | 2024 年度独立董事述职报告的议案 10 | | | 关于 | 2024 年度财务决算和 2025 年度预算报告的议案 11 | | | 关于 | 2024 年度利润分配方案的议案 13 | | | | 关于公司董事 2025 年度薪酬标准的议案 15 | | | | 关于公司监 ...

| 证券代码：688019 | 证券简称：安集科技 | 公告编号：2025-032 | | --- | --- | --- | | 债券代码：118054 | 债券简称：安集转债 | | 安集微电子科技(上海)股份有限公司 董事会薪酬与考核委员会关于公司 2025 年限制性股票激励 一、公示情况 1、公司于2025年4月16日在上海证券交易所网站（www.sse.com.cn）上披露 了《安集微电子科技（上海）股份有限公司2025年限制性股票激励计划（草案）》 （以下简称"《激励计划（草案）》"）及其摘要、《安集微电子科技(上海)股 份有限公司2025年限制性股票激励计划实施考核管理办法》。 2、公司于2025年4月18日至2025年4月27日在公司内部对本次拟激励对象的姓 名和职务进行了公示，公示期间共计10天，公司员工可向公司董事会薪酬与考核 委员会提出意见。 截至公示期满，公司董事会薪酬与考核委员会未收到任何员工对本次拟激励 对象提出的任何异议。 二、董事会薪酬与考核委员会核查意见 计划激励对象名单的公示情况说明及核查意见 安集微电子科技（上海）股份有限公司（以下简称"公司"）于2025年4月14 日召 ...

Investment Rating - The report assigns a "Buy" rating to the company, indicating a potential upside in the stock price [7][8]. Core Insights - The company reported strong Q1 performance with revenue of 545 million RMB, a year-over-year increase of 44.08%, and a net profit of 169 million RMB, reflecting a year-over-year growth of 60.66% [8]. - The company's market share in CMP polishing liquids is steadily increasing, with expectations for continued growth in the semiconductor industry [8]. - The report highlights the importance of domestic substitution in the semiconductor materials sector, positioning the company to benefit from this trend [8]. Company Overview - The company operates primarily in the electronic industry, with a market capitalization of 21.695 billion RMB and a current stock price of 167.90 RMB [1]. - The major shareholder is Anji Microelectronics Co., Ltd., holding 30.81% of the shares [1]. Financial Performance - The company achieved a gross margin of 55.70% in Q1 2025, despite a slight year-over-year decline of 2.75 percentage points [8]. - The report projects net profits of 840 million RMB, 1.14 billion RMB, and 1.49 billion RMB for the years 2025, 2026, and 2027, respectively, with year-over-year growth rates of 56%, 37%, and 31% [11]. Product Composition - The product mix is heavily weighted towards chemical mechanical polishing (CMP) liquids, which account for 84.17% of revenue, followed by wet electronic chemicals at 15.07% [3]. Institutional Ownership - Institutional investors hold 23.4% of the circulating A-shares, with general corporations holding 38.4% [4].

Group 1 - The semiconductor industry ETF (159582) has seen a recent increase of 0.07%, with a latest price of 1.43 yuan, and a turnover rate of 3.05% during trading, amounting to 471.41 million yuan [3] - The semiconductor industry ETF has achieved a 41.19% increase in net value over the past year, ranking 109 out of 2765 in the index stock fund category, placing it in the top 3.94% [4] - The top ten weighted stocks in the semiconductor industry index account for 75.31% of the total index, with notable companies including Northern Huachuang (002371) and SMIC (688981) [5] Group 2 - Domestic semiconductor equipment manufacturers are expected to gradually replace foreign counterparts through technological advancements and market expansion, as the domestic demand is driven by the expansion of local wafer fabs like SMIC [3] - The semiconductor industry ETF has the lowest management fee rate of 0.50% and a custody fee rate of 0.10% among comparable funds, indicating cost efficiency for investors [4] - The ETF has a tracking error of 0.056% over the past year, which is the highest tracking precision among comparable funds [4]