目 录 | 一、审计报告…………………………………………………………第 | | 1—6 | 页 | | --- | --- | --- | --- | | 二、财务报表……………………………………………………… 第 | | 7—14 | 页 | | （一）合并资产负债表…………………………………………… | | 第 7 | 页 | | （二）母公司资产负债表………………………………………… | | 第 8 | 页 | | （三）合并利润表………………………………………………… | | 第 9 | 页 | | （四）母公司利润表………………………………………………第 | | 10 | 页 | | （五）合并现金流量表……………………………………………第 | | 11 | 页 | | （六）母公司现金流量表…………………………………………第 | | 12 | 页 | | （七）合并所有者权益变动表……………………………………第 | | 13 | 页 | | （八）母公司所有者权益变动表…………………………………第 | | 14 | 页 | | 三、财务报表附注……………………………………………… 第 | 15—1 ...

北京市中伦律师事务所 | 一、本次发行的批准和授权 5 | | --- | | 二、本次发行的主体资格 5 | | 三、本次发行的实质条件 6 | | 四、发行人的设立 8 | | 五、发行人的独立性 9 | | 六、发行人的股东 9 | | 七、发行人的股本及演变 9 | | 八、发行人的业务 9 | | 九、关联交易及同业竞争 10 | | 十、发行人的主要财产 10 | | 十一、发行人的重大债权债务 11 | | 十二、发行人重大资产变化及收购兼并 11 | | 十三、发行人章程的制定与修改 11 | | 十四、发行人股东（大）会、董事会、监事会议事规则及规范运作 12 | | 十五、发行人董事、监事、高级管理人员及其变化 12 | | 十六、发行人的税务 13 | | 十七、发行人的环境保护和产品质量、技术等标准 13 | | 十八、发行人募集资金的运用 13 | | 十九、发行人的重大诉讼、仲裁和行政处罚 14 | | 二十、结论 14 | 关于拓荆科技股份有限公司 2025 年度向特定对象发行 A 股股票的 法律意见书 二〇二五年十二月 北京市中伦律师事务所 关于拓荆科技股份有限公司 2025 ...

中信建投证券股份有限公司 关于 拓荆科技股份有限公司 2025 年度向特定对象发行股票 之 发行保荐书 保荐人 二〇二五年十二月 保荐人出具的证券发行保荐书 保荐人及保荐代表人声明 中信建投证券股份有限公司及本项目保荐代表人胡明勇、刘恺伦根据《中华 人民共和国公司法》《中华人民共和国证券法》等有关法律、法规和中国证监会 的有关规定以及上海证券交易所的有关业务规则，诚实守信，勤勉尽责，严格按 照依法制订的业务规则、行业执业规范和道德准则出具本发行保荐书，并保证发 行保荐书的真实性、准确性和完整性。 除另有说明外，本发行保荐书中简称和术语的涵义与《拓荆科技股份有限公 司 2025 年度向特定对象发行 A 股股票募集说明书》释义部分内容一致。 3-1-1 | 保荐人及保荐代表人声明 | 1 | | --- | --- | | 目 | 录 2 | | 第一节 | 本次证券发行基本情况 3 | | | 一、本次证券发行具体负责推荐的保荐代表人 3 | | | 二、本次证券发行项目协办人及项目组其他成员 4 | | | 三、发行人基本情况 6 | | | 四、保荐人与发行人关联关系的说明 9 | | | 五、保荐人内部审 ...

证券代码：688072 证券简称：拓荆科技 公告编号：2025-084 拓荆科技股份有限公司 关于向特定对象发行 A 股股票申请 获得上海证券交易所受理的公告 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。 拓荆科技股份有限公司（以下简称"公司"）于 2025 年 12 月 4 日收到上海 证券交易所出具的《关于受理拓荆科技股份有限公司科创板上市公司发行证券申 请的通知》（上证科审（再融资））〔2025〕174 号）。上海证券交易所依据相关规 定对公司报送的科创板上市公司发行证券的募集说明书及相关申请文件进行了 核对，认为申请文件齐备，符合法定形式，决定予以受理并依法进行审核。 公司本次向特定对象发行 A 股股票事项尚需通过上海证券交易所审核，并 获得中国证券监督管理委员会（以下简称"中国证监会"）作出予以注册的决定 后方可实施。上述事项最终能否通过上海证券交易所审核，并获得中国证监会予 以注册的决定及其时间尚存在不确定性。 公司将根据该事项的进展情况及时履行信息披露义务，敬请广大投资者注意 投资风险。 特此公告。 拓荆科 ...

Core Viewpoint - The company,拓荆科技, has received notification from the Shanghai Stock Exchange regarding the acceptance of its application for issuing securities, marking a significant step towards its A-share issuance [1] Group 1 - The company announced on December 4, 2025, that it received a notice from the Shanghai Stock Exchange regarding the acceptance of its application for issuing securities [1] - The Shanghai Stock Exchange has decided to accept and will conduct a legal review of the company's application [1] - The issuance of A-shares to specific investors is subject to approval from the Shanghai Stock Exchange and registration by the China Securities Regulatory Commission before implementation [1]

Market Overview - On December 4, A-shares showed mixed performance with the Shanghai Composite Index down 0.06% at 3875 points, while the Shenzhen Component Index rose by 0.4% and the ChiNext Index increased by 1.01% [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1.55 trillion yuan, a decrease of 121 billion yuan compared to the previous trading day [1] Sector Performance - The robotics sector experienced a surge, with stocks like Hengerdai, Haichang New Materials, and Huawu Co. hitting the 20% daily limit up [4][5] - The commercial aerospace concept also strengthened, with multiple stocks including Dahua Intelligent and Sichuan Jinding reaching their daily limit [7] - The semiconductor sector saw gains, with Hongwei Technology rising over 9% [9][10] - The film and cinema sector rallied, with Bona Film Group increasing by over 9% [11][12] - The Hainan sector faced declines, with stocks like Roniu Mountain and Hainan Ruize hitting the daily limit down [13][14] - The liquor sector weakened, with companies like Shede Liquor and Luzhou Laojiao dropping over 3% [15][16] Key Stock Movements - Notable gainers in the robotics sector included: - Hengerdai: +20.01% at 58.60 yuan - Haichang New Materials: +19.99% at 25.57 yuan - Huawu Co.: +19.96% at 11.24 yuan [5][8] - In the commercial aerospace sector, Haichang New Materials and Huawu Co. also saw significant increases [7] - The semiconductor sector's notable performers included: - Hongwei Technology: +9.55% at 28.00 yuan - Zhongke Blue News: +8.90% at 158.53 yuan [10] - In the film sector, Bona Film Group rose by 9.06% to 8.55 yuan [12] Future Outlook - UBS China strategists expect the A-share market to continue its upward trend, projecting an increase in earnings growth to 8% in 2026, up from 6% in 2025 [19]

Group 1 - The core viewpoint of the news highlights a strong performance in the semiconductor sector, particularly with the Shanghai Stock Exchange's Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index rising by 2.44% [1] - Key stocks such as Jingyi Equipment, Tuojing Technology, and Xinyuan Microelectronics saw significant increases, with gains of 5.77%, 5.68%, and 4.8% respectively [1] - The Sci-Tech Semiconductor ETF (588170) also experienced a rise of 2.43%, surpassing both the 5-day and 10-day moving averages, indicating a bullish trend [1] Group 2 - The trading volume for the Sci-Tech Semiconductor ETF was notably active, with a turnover rate of 14.39% and a transaction value of 476 million yuan [1] - Over the past month, the average daily trading volume for the Sci-Tech Semiconductor ETF reached 409 million yuan, outperforming similar funds [1] - Amazon AWS launched its new self-developed AI chip, Trainium3, at the Re:Invent conference, marking its first chip product using a 3nm process [1] Group 3 - The Sci-Tech Semiconductor ETF and its linked funds focus on semiconductor equipment (61%) and semiconductor materials (23%), representing a significant portion of the index [1] - The semiconductor equipment and materials industry is identified as a crucial area for domestic substitution, characterized by low domestic replacement rates and high potential for growth [1] - The sector is expected to benefit from the AI revolution, ongoing semiconductor demand, expansion, technology restructuring, mergers and acquisitions, and advancements in lithography technology [1]

Core Viewpoint - The A-share technology sector experienced a rebound, with the Sci-Tech Chip 50 ETF (588750) rising over 2% and trading volume significantly increasing, surpassing 118 million yuan during intraday trading [1][3]. Group 1: Market Performance - The majority of the constituent stocks of the Sci-Tech Chip 50 ETF saw gains, with notable increases in optical modules and optical chips. For instance, Yuanjie Technology rose over 6%, while Tuojing Technology increased by over 5% [3]. - The trading activity of the Sci-Tech Chip 50 ETF was notably active, with intraday trading volume exceeding 118 million yuan, indicating a significant increase compared to the previous day's total [1]. Group 2: Company Developments - Tuojing Technology held a performance briefing on December 4, stating that its thin film equipment series has achieved industrial application in storage chip manufacturing, with a full order book and expected demand growth if downstream clients expand production [5]. - Zhongwei Company announced its comprehensive layout in advanced packaging, including etching and CVD equipment, indicating a strong position in the market [5]. - Huahong Company plans to acquire Huali Micro through a combination of stock issuance and cash payment, which will make Huali Micro a subsidiary of Huahong [5]. Group 3: Industry Insights - According to SEMI, global semiconductor equipment shipments are projected to grow by 11% year-on-year in Q3 2025, reaching $33.66 billion, marking the sixth consecutive quarter of growth [6]. - The semiconductor industry is entering a strong recovery phase, driven by AI demand and storage needs, with the global semiconductor market expected to reach $728 billion in 2025, reflecting a year-on-year growth of 15.4% [8]. - The Sci-Tech Chip sector has attracted significant institutional interest, with 1,218 institutions conducting research on constituent stocks in November, a 51% increase from the previous month [6]. Group 4: Investment Opportunities - The Sci-Tech Chip 50 ETF focuses on the core segments of the semiconductor industry, with a high "chip content" and strong growth potential, making it an attractive investment option [12]. - The index's constituent stocks are expected to see a net profit growth rate of 94% for the first three quarters of 2025, with an anticipated full-year growth rate of 100%, significantly outperforming peers [15]. - The Sci-Tech Chip 50 ETF has demonstrated a maximum increase of 187.69% since September 2024, indicating strong upward elasticity compared to other indices [16].

Group 1 - The leading storage chip company Changxin Technology has completed its IPO guidance and will soon submit its prospectus [1] - Recent high stock prices of semiconductor equipment companies in the US reflect the market's renewed pricing of the semiconductor equipment industry driven by the AI wave, particularly in front-end process equipment [1] - Despite losing market share in mainland China, the super cycle of AI capital expenditure still possesses sufficient growth momentum [1] Group 2 - The demand for equipment in mainland China remains strong, creating a historic breakthrough window for two storage companies due to structural shortages in storage chips [1] - The core variable of China's semiconductor competitiveness is equipment, and the speed of breakthroughs in equipment will determine the ceiling for China's semiconductor manufacturing industry over the next 5-10 years [1] - As of December 4, 2025, the STAR Market semiconductor materials and equipment theme index (950125) rose by 2.74%, with significant gains in constituent stocks such as Tuojing Technology (up 6.41%) and Jingyi Equipment (up 4.86%) [1] Group 3 - The STAR Market semiconductor materials and equipment theme index closely tracks the performance of listed companies in the semiconductor materials and equipment sectors [2] - As of November 28, 2025, the top ten weighted stocks in the index accounted for 74.68% of the total index, including Tuojing Technology, Zhongwei Company, and Huahai Qingke [2]

Core Viewpoint - The semiconductor equipment ETF (561980) has shown significant growth, with a year-to-date increase of 54%, outperforming other major semiconductor indices. This growth is attributed to strong investments in advanced technologies, particularly in AI computing and high-end logic chips [1]. Group 1: ETF Performance - The semiconductor equipment ETF (561980) rose by 3.53%, with a trading volume exceeding 150 million yuan [1]. - Key constituent stocks such as Jin Hai Tong surged by 8.58%, Chang Chuan Technology increased by over 7%, and several others including Tuo Jing Technology and Xin Yuan Wei rose by over 6% [1]. - The ETF's index performance is the best among mainstream semiconductor indices, including the China Securities Semiconductor Index and the National Chip Index [1]. Group 2: Market Trends - According to SEMI, global semiconductor equipment sales are projected to grow by 11% year-on-year in Q3 2025, reaching $33.66 billion, with a quarter-on-quarter increase of 2% [1]. - The growth in sales is primarily driven by robust investments in advanced technology sectors, especially in AI computing, DRAM, and advanced packaging solutions [1]. - Guojin Securities indicates that the global semiconductor market has exited the destocking phase and is entering a strong recovery cycle, maintaining high demand in the equipment market [1]. Group 3: Future Projections - DIGITIMES forecasts that the global semiconductor market size may grow by 18.3% in 2026, reaching $880 billion, with the wafer foundry output expected to hit $233.1 billion, reflecting a 17% increase [1].