长江商报消息 ●长江商报记者 汪静 国内半导体龙头北方华创（002371.SZ）再传捷报。 4月8日盘前，北方华创发布公告称，2024年，公司实现营业收入298.38亿元，同比增长35.14%；实现净 利润56.21亿元，同比增长44.17%。 北方华创披露，公司营收和净利连续三年增长，营业收入年复合增长率为42.53%，净利润年复合增长 率为54.57%。长江商报记者注意到，自2016年重组以来，北方华创营收净利就实现持续增长。 同日，公司还发布了2025年一季度业绩预告，净利润预计为14.2亿元—17.4亿元，延续高增态势。 值得一提的是，当前北方华创正在推进"A吃A"，拟两步走耗资31.35亿元成为芯源微（688037.SH）第 一大股东，并谋求控制权，完善半导体产业布局。 净利八年增长59倍 北方华创是由七星电子和北方微电子重组而来，着眼半导体设备、真空设备、新能源锂电设备及精密电 子元件四大业务板块，是国内主流高端电子工艺装备供应商，也是重要的高精密电子元器件生产基地。 2016年联合重组实施，2017年更名为北方华创。近年来，由于下游行业需求扩大，北方华创业绩规模迅 速增长。2016年，公司营业收 ...

Investment Rating - The report maintains an "Overweight" rating for the semiconductor industry [1] Core Viewpoints - The increase in import tariffs on semiconductor equipment from the US is beneficial for the domestic replacement of both mature and advanced process equipment, supporting the trend of self-sufficiency [5][6] - The import value of semiconductor equipment from the US in 2024 is estimated to be approximately 33.7 billion yuan, accounting for about 20% of total imports [6][8] - The newly imposed 34% tariff on US imports is expected to increase the cost of imported equipment by over 50%, giving a significant price advantage to domestic equipment [5][6] - The report highlights that the major imported equipment from the US includes ion implantation and metrology equipment, with the largest import value for metrology equipment at approximately 12.25 billion yuan [7][8] - Major US equipment manufacturers have production bases in Singapore and Malaysia, which affects the reported import values [11] Summary by Sections Section 1: Impact of Tariffs - The increase in tariffs is expected to accelerate the domestic production of semiconductor equipment, particularly benefiting the mature process segment due to its price sensitivity [5][6] Section 2: Equipment Import Breakdown - In 2024, the largest import value from the US is for metrology equipment at 12.25 billion yuan, followed by ion implantation equipment at approximately 10.15 billion yuan [7][8] Section 3: Revenue from US Equipment Manufacturers - The combined revenue of four major US equipment manufacturers in China is estimated at around 120 billion yuan, indicating a significant market presence [11][15] Section 4: Investment Recommendations - The report recommends focusing on front-end and back-end semiconductor equipment manufacturers, highlighting specific companies such as North Huachuang and Zhongwei Company for front-end platform equipment, and others for various segments [18]

Investment Rating - The report maintains an "Overweight" rating for the semiconductor industry [1] Core Viewpoints - The increase in import tariffs on semiconductor equipment from the US is beneficial for the domestic replacement of both mature and advanced process equipment, supporting the trend of self-sufficiency [5][6] - The import value of semiconductor equipment from the US in 2024 is estimated to be approximately 33.7 billion yuan, accounting for about 20% of total imports [6][8] - The newly imposed 34% tariff on US imports is expected to increase the cost of imported key equipment by over 50%, giving a significant price advantage to domestic equipment [5][6] - The report highlights that the major imported equipment from the US includes ion implantation and metrology equipment, with the largest import value for metrology equipment at approximately 12.25 billion yuan [7][8] - Major US equipment manufacturers have production bases in Singapore and Malaysia, which affects the reported import values [11] Summary by Sections Section 1: Impact of Tariffs - The increase in tariffs is expected to accelerate the domestic replacement of semiconductor equipment, particularly benefiting mature process chips due to their price sensitivity [5][6] Section 2: Equipment Import Breakdown - In 2024, the largest import value from the US is for metrology equipment at 12.25 billion yuan, followed by ion implantation equipment at approximately 10.15 billion yuan [7][8] Section 3: Revenue from US Equipment Manufacturers - The combined revenue of four major US equipment manufacturers in China is estimated at around 120 billion yuan, indicating a significant presence in the market [11][12] Section 4: Investment Recommendations - The report recommends focusing on front-end and back-end semiconductor equipment and component manufacturers, highlighting specific companies such as North Huachuang and Zhongwei Company [18]

Core Viewpoint - The transfer of shares from Shen Yang Zhongke Tiansheng Automation Technology Co., Ltd. to Northern Huachuang is expected to enhance the collaboration between the two companies, potentially leading to accelerated growth in performance for Chip Source Microelectronics [3][4]. Group 1: Share Transfer Details - Shen Yang Zhongke Tiansheng Automation Technology Co., Ltd. transferred 16,899,750 shares, accounting for 8.41% of the total share capital of Chip Source Microelectronics [3]. - Northern Huachuang is set to acquire an additional 9.49% of shares from Advanced Manufacturing, totaling 19,064,915 shares, which will increase its stake to 17.90% if both transfers are completed [4]. Group 2: Business Performance and Strategy - In 2024, Chip Source Microelectronics experienced revenue growth in the front-end wafer processing sector, particularly in photoresist coating and development, with ongoing advancements in high-capacity machine models [4]. - The company maintains its leading position in the domestic market for front-end physical cleaning machines, with successful client introductions for new strategic products, including chemical cleaning machines [4].

Investment Rating - The report maintains an "Overweight" rating for the machinery equipment industry, particularly highlighting opportunities in semiconductor equipment due to tariff impacts [1]. Core Insights - The report emphasizes the impact of tariffs on the machinery equipment sector, particularly the 34% tariff on U.S. imports, which raises the total export tariff to the U.S. for engineering machinery to 79%. However, the actual impact on major companies is limited due to their low exposure to the U.S. market [1][2]. - The report identifies potential growth in domestic demand and the electric vehicle transition as key factors for the forklift segment, while also noting the limited impact of tariffs on exports [3]. - The semiconductor equipment sector is expected to benefit from increased domestic production due to tariffs, with a focus on both mature and advanced process equipment [4]. Summary by Sections Engineering Machinery - The report highlights that major engineering machinery companies have minimal exposure to the U.S. market, with SANY Heavy Industry at approximately 3% and XCMG at about 1% [1][2]. - Companies with overseas factories, particularly in North America and Mexico, are better positioned to mitigate tariff risks [2]. - The report recommends companies like SANY Heavy Industry, XCMG, and LiuGong for their strategic factory locations [2]. Forklifts - The report notes that domestic forklift manufacturers have limited exposure to the U.S. market, and the impact of tariffs is manageable due to pre-stocked inventory [3]. - It suggests that the domestic forklift market will see growth driven by the electric vehicle transition and government policies supporting domestic demand [3]. Semiconductor Equipment - The report indicates that the 34% tariff on U.S. imports will accelerate the domestic production of semiconductor equipment, particularly in mature processes where price sensitivity is higher [4]. - It recommends focusing on companies involved in both front-end and back-end semiconductor equipment, highlighting firms like North China Innovation and Zhongwei Company [4]. General Automation - The report suggests that the general automation sector will see limited impact from tariffs, with a focus on domestic demand for tools and automation products [5][8]. - It highlights the recovery in manufacturing and logistics sectors as potential growth drivers for the general automation market [8]. Investment Recommendations - The report provides a list of recommended companies across various segments, including semiconductor equipment, engineering machinery, and general automation, emphasizing their potential for growth in the current market environment [1][16].

事件： 此次交易基于公司发展战略进行，旨在发挥协同效应，提高股东回报。 在半导体装备业务板块，北方华创的主要产品包括刻蚀、薄膜沉积、炉管、清洗、快速退火和晶体生长 等核心工艺装备，芯源微的主要产品包括涂胶显影设备等核心工艺装备。双方同属集成电路装备行业， 但产品布局有所不同，具有互补性，有利于双方协同效应的发挥。一方面，双方可以通过合作，推动不 同设备的工艺整合，协同为客户提供更完整、高效的集成电路装备解决方案；另一方面，双方可在研 发、供应链、客户资源等方面加强协同，共同提升企业竞争力和股东回报能力。 2025 年3 月31 日，北方华创与中科天盛签署了《股份转让协议》。为加快推动北方华创战略落实，发 挥协同效应，提高股东回报，公司以现金为对价，协议受让中科天盛持有的芯源微8.41%股份，合计 16,899,750 股，受让价格为85.71元/股，交易金额为14.48 亿元。 风险提示：技术与产品研发风险；贸易环境影响。 点评： 2025 年3 月10 日，公司与先进制造签署了股份转让协议，公司拟受让沈阳先进制造技术产业有限公司 持有的芯源微9.49%股份，合计19,064,915 股，截至2025 年4 ...

证券代码：688037 证券简称：芯源微 公告编号：2025-020 沈阳芯源微电子设备股份有限公司 关于 2021 年限制性股票激励计划首次授予部分第三个 归属期第三批次归属结果暨股份上市的公告 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： ? 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 本次股票上市流通总数为 171,680 股。 ? 本次股票上市流通日期为 2025 年 4 月 7 日。 （公告编号：2021-024），根据公司其他独立董事的委托，独立董事宋雷先生作 为征集人就 2021 年第二次临时股东大会审议的公司 2021 年限制性股票激励计划 相关议案向公司全体股东征集投票权。 （三）2021 年 4 月 10 日至 2021 年 4 月 20 日，公司对本激励计划首次授予的 激励对象名单在公司内部进行了公示。在公示期内，公司监事会未收到与本激励计 划激励对象有关的任何异议。2021 年 4 月 21 日，公司于上海证券交易所网站 根据中国证券监督管理委员会、上海证券交易 ...

Core Viewpoint - The semiconductor industry is experiencing significant mergers and acquisitions, with Fuchuang Precision planning to acquire an 80.81% stake in Zhejiang Puchin to enhance its vertical integration and global competitiveness in the gas transmission components sector [1][2][5]. Group 1: Acquisition Details - Fuchuang Precision announced its intention to acquire 80.81% of Zhejiang Puchin through a special purpose company, with a total investment of 21.7 billion yuan [2][4]. - The acquisition involves purchasing 64.42% of Zhejiang Puchin's shares from 11 shareholders for a total price of 2.448 billion yuan [2][3]. - If successful in acquiring additional shares from state-owned shareholders, the total cost for 80.81% of Zhejiang Puchin could reach approximately 3.071 billion yuan [4]. Group 2: Financial Performance - Zhejiang Puchin's projected revenues for 2023 and 2024 are 672 million yuan and 878 million yuan, respectively, with net profits of 103 million yuan and 105 million yuan [6]. - The valuation for 100% of Zhejiang Puchin's equity is set at 3.8 billion yuan [6]. Group 3: Strategic Importance - Compart, the target company, is a leading manufacturer of gas transmission components with a strong market position and long-term relationships with major semiconductor equipment manufacturers [7][8]. - The gas transmission system is critical in wafer manufacturing, impacting the quality and efficiency of integrated circuit production [8]. Group 4: Recent Market Movements - Zheng Guangwen, the controlling shareholder of Fuchuang Precision, recently sold his stake in Chip Source Microelectronics, indicating a strategic shift in his investment focus [9][10].

证券代码：688037 证券简称：芯源微 公告编号：2025-020 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 171,680 股。 沈阳芯源微电子设备股份有限公司 本次股票上市流通总数为 171,680 股。 关于 2021 年限制性股票激励计划首次授予部分第三个 归属期第三批次归属结果暨股份上市的公告 本次股票上市流通日期为 2025 年 4 月 7 日。 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责任 公司上海分公司有关业务规则的规定，沈阳芯源微电子设备股份有限公司（以下简 称"公司"）于 2025 年 3 月 31 日收到中国证券登记结算有限责任公司上海分公 司出具的《证券变更登记证明》，公司完成了 2021 年限制性股票激励计划首次授 予部分第三个归属期第三批次的股份登记工作。现将有关情况公告如下： 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。 （二）2021 年 4 月 10 日，公司于上海证券交易所网站（www.sse.com.cn）披 露了《沈阳 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本次权益变动涉及的交易事项需国有资产监督管理部门批准，国家反垄断主管部门就本次权益变动涉及 的经营者集中事宜出具批准或不予进一步审查的决定，上海证券交易所进行合规性确认，并在中国证券 登记结算有限责任公司上海分公司办理过户登记手续。 六、本次权益变动不存在其他安排 截至本报告书签署日，除在本报告书中披露的以外，本次权益变动未附加其他特殊条件、不存在补充协 议及股份表决权的行使等其他安排。 第五节 前6个月内买卖上市公司股份的情况 除本报告书披露的权益变动外，在本报告签署之日前6个月内，信息披露义务人不存在通过证券交易所 的集中交易买卖上市公司股票的行为。 第六节 其他重大事项 除本报告书所披露的信息外，信息披露义务人不存在其他应披露而未披露的其他重大事项。 第七节 备查文件 一、备查文件 1、信息披露义务人营业执照复印件； 2、信息披露义务人董事及主要负责人的身份证复印件； 3、《股份转让协议》； 信息披露义务人声明 信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性、完整 性承担个别和连带法律责任。 信息披露义务人：沈阳中科 ...