Summary of Conference Call Company/Industry Involved - The conference call was focused on Huafu Securities, targeting professional institutional clients and invited third-party experts [1] Core Points and Arguments - The opinions expressed during the call represent personal views and do not constitute investment advice [1] - The meeting was conducted in compliance with regulatory requirements, prohibiting the exchange of sensitive insider information [1] - Recording, note-taking, forwarding, reproducing, editing, or modifying the content of the meeting without prior written permission from Huafu Securities is strictly prohibited [1] Other Important but Possibly Overlooked Content - Huafu Securities reserves all legal rights regarding any violations of the aforementioned regulations [1]

Summary of Conference Call Company/Industry Involved - The conference call is related to Huafu Securities, focusing on professional investment institutions and invited third-party experts Core Points and Arguments - The opinions expressed during the meeting are personal views and do not constitute investment advice [1] - The meeting is regulated to avoid the exchange of sensitive insider information [1] - Recording, transcribing, or disseminating the meeting content without prior written permission from Huafu Securities is strictly prohibited [1] - Huafu Securities reserves all legal rights in case of violations of the above regulations [1] Other Important but Possibly Overlooked Content - The meeting emphasizes compliance with regulatory requirements and the importance of maintaining confidentiality [1]

Key Points Summary Industry/Company Involved - The meeting is focused on [Company Name], a leading player in the [Industry Name] sector. Core Views and Arguments - [1] The company's revenue for the last quarter was [X] billion, reflecting a [Y]% increase compared to the same period last year. - [2] The management attributed the growth to strong demand in [Product/Service A] and [Product/Service B], which accounted for [Z]% of total revenue. - [3] The company's gross margin improved by [A]% year-over-year, reaching [B]%, driven by cost optimization and efficient supply chain management. - [4] The management expressed optimism about the upcoming year, forecasting a [C]% growth in revenue and a [D]% increase in earnings per share. Other Important Content - [5] The company is investing in [Technology A] and [Technology B] to enhance its competitive edge and improve operational efficiency. - [6] The industry is expected to grow at a [E]% rate over the next five years, driven by [Factor F] and [Factor G]. - [7] The company is facing challenges from [Competitor H], which has been gaining market share in [Region I]. - [8] The management discussed the company's strategy to expand into [New Market J] and [New Market K] to diversify its revenue streams.

本次会议紧面向华福证券的专业投资机构客户或受邀客户第三方专家发言内容仅代表其个人观点所有信息或观点不构成投资建议根据监管规定会议不得交流敏感内幕信息未经华福证券事先书面许可任何机构或个人严禁录音制作纪要转发转载传播复制编辑修改等涉嫌违反上述情形的我们将保留一切法律权利感谢您的理解和支持谢谢 嗯好的那个各位投资者大家晚上好我是华富电子徐旬然后今天晚上我就给大家汇报一下我们那个7nv的一个深度的报告的一个情况包括说我们对于7nv各块业务的进展以及后面公司的一些看法 就是我们认为就是说CNV的话呢目前还是国内整个非常稀缺的一个涂装线影设备的供应商目前来看的话在各个客户那边吧目前还是处于一个国产非常理性的地位 然后整个前道的推销先营的话目前整个过人化率其实不像其他一些设备还没有特别高我们预期的话可能就是在20到30的一个幅度那么后续随着CNV这边像经贸市的一些产品的一些成熟以及说是国产设备的一些导入那么我们认为后续整个推销先营这块的一个份额还可以期待去逐步提升 那另一方面的话呢 许元威的话在整个清洗这边的话也是做了一些布局除开他的整个前道的物理清洗剂已经是国内第一的地位那么在化学清洗这一块今年的话我们预计的话公司会开 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4]. Core Views - The company has established itself as a domestic leader in the semiconductor equipment sector, particularly in photoresist coating and developing equipment, with a strong growth trajectory in revenue and profit [10][25]. - The semiconductor equipment market is expected to recover in 2024, driven by increasing demand for advanced packaging and domestic production capabilities [22][74]. Summary by Sections Company Overview - The company, founded in 2002, specializes in semiconductor production equipment and has developed a comprehensive product portfolio covering four main business segments: front-end coating and developing equipment, front-end cleaning equipment, back-end advanced packaging equipment, and small-sized devices [10][25]. - In 2023, the company achieved a revenue of 1.717 billion yuan, representing a year-on-year growth of 23.98%, with a net profit of 251 million yuan, also up by 24.98% [10][14]. Financial Data and Valuation - Revenue projections for 2024-2026 are 2.285 billion yuan, 3.033 billion yuan, and 3.916 billion yuan, respectively, with corresponding growth rates of 33% for both 2024 and 2025, and 29% for 2026 [3][90]. - The net profit is expected to reach 301 million yuan in 2024, 469 million yuan in 2025, and 625 million yuan in 2026, with growth rates of 20%, 56%, and 33% respectively [3][90]. - The company’s P/E ratio is projected to decrease from 47.7 in 2024 to 23.0 in 2026, indicating potential valuation upside as earnings grow [3]. Market Dynamics - The global semiconductor equipment market is projected to recover in 2024, with a market size expected to reach 105.3 billion USD, following a decline in 2023 due to weak demand and high inventory levels [22][74]. - The domestic market is anticipated to see significant growth, with local companies gradually breaking the overseas monopoly in key equipment segments [22][74]. Product and Technology Development - The company is the only domestic supplier capable of providing mass production front-end coating and developing machines, having achieved full coverage for 28nm and above process nodes [2][83]. - The introduction of new products, such as the KSCM300/200 front-end single wafer chemical cleaning machine, enhances the company’s product line and market competitiveness [2][61]. - The company is also expanding into advanced packaging and small-sized device sectors, with ongoing development of automated temporary bonding and debonding machines [2][65]. Order Backlog and Future Outlook - The company has a robust order backlog of approximately 2.2 billion yuan as of 2023, which supports future revenue growth [10][45]. - The anticipated growth in advanced packaging and the company’s ongoing R&D investments are expected to drive further revenue increases and market share expansion [3][90].

证券代码：688037 证券简称：芯源微 公告编号：2024-041 沈阳芯源微电子设备股份有限公司 2023 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： 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 6 月 17 日 （二） 股东大会召开的地点：辽宁省沈阳市浑南区彩云路 1 号沈阳芯源微电子 设备股份有限公司会议室 （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 | 39 | | --- | --- | | 普通股股东人数 | 39 | | 2、出席会议的股东所持有的表决权数量 | 57,922,374 | | 普通股股东所持有表决权数量 | 57,922,374 | | 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 | 41.9472 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 41.9 ...

北京市邦盛律师事务所 关于 沈阳芯源微电子设备股份有限公司 法 律 意 见 书 2023 年年度股东大会 之 [2024]邦盛股字第 060 号 中国·北京·海淀区中关村大街19号新中关大厦A座12层 电话（Tel）：(010)82870288 传真（Fax）：(010)82870299 二○二四年六月 北京市邦盛律师事务所 法律意见书 北京市邦盛律师事务所 关于沈阳芯源微电子设备股份有限公司 2023 年年度股东大会之 法律意见书 [2024]邦盛股字第 060 号 致：沈阳芯源微电子设备股份有限公司 北京市邦盛律师事务所（以下简称"本所"）接受沈阳芯源微电子设备股份 有限公司（以下简称"公司"）的委托，指派本所律师出席公司 2023 年年度股 东大会（以下简称"本次股东大会"），并根据《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》"）、 中国证券监督管理委员会（以下简称"中国证监会"）《上市公司股东大会规则》 （以下简称"《股东大会规则》"）等法律、法规和规范性文件及《沈阳芯源微 电子设备股份有限公司章程》（以下简称"《公司章程》"）的有关规定，就本 ...

证券代码：688037 证券简称：芯源微 公告编号：2024-040 沈阳芯源微电子设备股份有限公司 董监高集中竞价减持股份计划公告 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： 拟减持股东持股的基本情况 截至本公告披露日，沈阳芯源微电子设备股份有限公司（以下简称"公司"） 本次拟减持股东的持股情况如下： 集中竞价减持计划的主要内容 宗润福持有公司 2,435,273 股股份，占公司总股本比例为 1.762%，其中 IPO 前取得 1,603,455 股，其他方式取得 831,818 股。 李风莉持有公司 1,245,050 股股份，占公司总股本比例为 0.901%，其中 IPO 前取得 811,250 股，其他方式取得 433,800 股。 崔晓微持有公司 127,058 股股份，占公司总股本比例为 0.092%，其中 IPO 前取得 67,850 股，其他方式取得 59,208 股。 顾永田持有公司 125,702 股股份，占公司总股本比例为 0.091%，其中 IPO 前取得 54,93 ...

沈阳芯源微电子设备股份有限公司 2023 年年度股东大会会议资料 1 公司代码：688037 公司简称：芯源微 目 录 | 沈阳芯源微电子设备股份有限公司 2023 年年度股东大会会议须知 2 | | --- | | 沈阳芯源微电子设备股份有限公司 2023 年年度股东大会会议议程 4 | | 沈阳芯源微电子设备股份有限公司 2023 年年度股东大会会议议案 6 | | 一、《关于公司<2023 年度董事会工作报告>的议案》 6 | | 二、《关于公司<2023 年度监事会工作报告>的议案》 7 | | 三、《关于公司<2023 年度独立董事述职报告>的议案》 8 | | 四、《关于公司<2023 年年度报告>及摘要的议案》 9 | | 五、《关于公司<2023 年财务决算报告>的议案》 10 | | 六、《关于续聘 2024 年度审计机构的议案》 11 | | 七、《关于公司 2023 年年度利润分配及资本公积转增股本方案的议案》 12 | | 八、《关于预计公司 2024 年度日常关联交易的议案》 14 | | 九、《关于使用部分超募资金永久性补充流动资金的议案》 18 | | 十、《关于确认公司 202 ...

Investment Rating - The report maintains an "Accumulate-A" rating for the company, indicating a positive outlook for future performance [14][26]. Core Views - The company has secured significant verification orders from key domestic clients and is in the process of establishing cooperation intentions with several other important clients, with some already entering the configuration confirmation and business process stages [2]. - The company launched the fully automated SiC wafer splitting machine KS-S200-2H1L in March 2024, expanding its product offerings in the small-size equipment market and successfully entering the wafer splitting field [3]. - The company reported strong new order intake in Q2 2024, with production, delivery, and acceptance plans aligning with expectations [14]. Financial Performance - In 2023, the company achieved revenue of 1.717 billion yuan, a year-on-year increase of 23.98%, and a net profit attributable to shareholders of 251 million yuan, up 25.21% year-on-year [14]. - The gross profit margin for 2023 was 42.53%, an increase of 4.13 percentage points compared to the previous year [14]. - The company’s order backlog at the end of 2023 was approximately 2.2 billion yuan (including tax) [14]. Product Segmentation - In 2023, revenue from photoresist coating and developing equipment reached 1.066 billion yuan, growing by 40.80% year-on-year, while single-wafer wet processing equipment generated 600 million yuan, up 9.09% year-on-year [14]. - The company is the only domestic provider of mass-production photoresist coating and developing machines, having completed full coverage for 28nm and above process nodes, with ongoing validation for below 28nm processes [14]. - The company has made significant progress in sales of new machines for high-end NTD negative photoresist and SOC coating [14]. Future Outlook - The company expects revenue for 2024 to be 2.163 billion yuan, with a growth rate of 26.0%, and net profit attributable to shareholders to reach 329 million yuan, reflecting a growth rate of 31.3% [14][15]. - The report anticipates a recovery in the advanced packaging sector in 2024, with the company benefiting from increased production capacity in the 2.5D advanced packaging market [13][14].