证券代码：688082 证券简称：盛美上海 公告编号：2024-021 盛美半导体设备（上海）股份有限公司 关于召开 2023 年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 4 月 17 日（星期三）下午 16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频录播和网络互动 投资者可于 2024 年 4 月 10 日（星期三）至 4 月 16 日（星期二）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （ir@acmrcsh.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。 盛美半导体设备（上海）股份有限公司（以下简称"公司"）已于2024年2 月29日发布公司2023年年度报告，为便于广大投资者更全面深入地了解公司2023 年度经营成果、财务状况，公司计 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The successful delivery of 4,000 wet cleaning equipment units marks a significant milestone, reflecting high market recognition of the company's products [1] - The company has a strong focus on semiconductor cleaning equipment, with a revenue share of 67.24% in 2023, and aims to achieve a market share of 55%-60% in China [1][2] - The company expects revenue for 2024 to be between 5.0 billion to 5.8 billion yuan, representing a year-on-year growth of 28.59% to 49.16% [2] Financial Performance - In 2023, the company achieved a revenue of 3.888 billion yuan, a year-on-year increase of 35.34%, and a net profit of 911 million yuan, up 36.21% [2][3] - The gross margin for 2023 was 51.99%, an increase of 3.09 percentage points compared to the previous year [2] - The company plans to maintain R&D expenditure at 15-16% of revenue, with 2023 R&D expenses amounting to 615 million yuan, a 62.04% increase year-on-year [2] Revenue Projections - Revenue projections for 2024 to 2026 are 5.4 billion, 6.501 billion, and 7.854 billion yuan, with growth rates of 38.9%, 20.4%, and 20.8% respectively [2][3] - The net profit for the same period is expected to be 1.122 billion, 1.422 billion, and 1.800 billion yuan, with growth rates of 23.2%, 26.7%, and 26.6% respectively [2][3] Market Position - The company holds a 7.2% market share in the global single-wafer cleaning equipment market as of 2022 [1] - The company is expanding its product portfolio to include semiconductor plating equipment, furnace tube equipment, and other advanced technologies [1][2]

Group 1: Company Performance and Projections - The company expects a revenue guidance of 5-5.8 billion RMB for 2024, driven by strong demand in the semiconductor equipment market [3][5] - The anticipated shipment growth rate for 2024 is expected to exceed the revenue growth rate due to delayed deliveries from the previous year [3] - The company’s revenue structure for 2024 will primarily come from cleaning equipment, followed by copper plating and furnace equipment, with advanced packaging equipment contributing as well [9] Group 2: Market Trends and Demand - The semiconductor equipment market in China shows a positive outlook, with strong order demand from both leading and mid-tier manufacturers [3][4] - The company has received multiple repeat orders for TSV plating equipment, indicating sustained market demand [8] - The company’s cleaning equipment currently covers 90-95% of the cleaning process steps, positioning it as a leading provider globally [9] Group 3: Profitability and Margins - The company’s gross margin has been positively impacted by the increased volume of plating equipment, which has a relatively high margin [4] - The gross margin is expected to continue improving in 2024, supported by the growth of plating equipment and the gradual delivery of advanced packaging equipment orders [4] Group 4: Research and Development - R&D investment as a percentage of revenue has increased by over 2 percentage points compared to the previous year, with expectations to maintain a level of 15-16% going forward [6] - The company is focusing on developing new products, particularly in the high-end packaging sector, to meet evolving market demands [7] Group 5: International Market and Revenue Composition - The company anticipates that the majority of its 2024 revenue will still come from the Chinese market, with a smaller proportion from international sales [5] - The gross margin from international business is significantly higher than that from the Chinese market, influenced by the product mix sold [6]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company achieved a revenue of 3.89 billion yuan in 2023, representing a year-on-year growth of 35.3%. The semiconductor cleaning equipment contributed 2.61 billion yuan, growing by 25.8%, while other semiconductor equipment saw a significant increase of 81.6% to 940 million yuan. The net profit attributable to shareholders was 910 million yuan, up 36.2% year-on-year [2][9][11] - The company is experiencing a robust growth in new product lines, with a focus on expanding its product categories, including PECVD and Track equipment, while maintaining its leading position in semiconductor cleaning equipment [3][17][18] - The company has a strong order backlog of 6.796 billion yuan as of September 27, 2023, a 46.3% increase from the previous year, indicating strong demand from leading domestic enterprises [14] Summary by Sections Revenue and Profitability - In 2023, the total revenue was 3.89 billion yuan, with a year-on-year increase of 35.3%. The net profit attributable to shareholders was 910 million yuan, reflecting a growth of 36.2% [2][9][11] - The gross margin for the company was 52%, an increase of 3 percentage points year-on-year. The gross margin for semiconductor cleaning equipment was 48.6%, while other semiconductor equipment reached 59.5% [3][11] Product Development and Market Position - The company is actively expanding its product offerings, particularly in PECVD and Track equipment, to meet diverse customer needs in both logic and storage applications [17][18] - The company has established a strong order backlog, covering various semiconductor fields, including logic, storage, and advanced packaging [14] Financial Forecast and Valuation - The forecast for net profit attributable to shareholders is 1.24 billion yuan for 2024 and 1.55 billion yuan for 2025, with an expected net profit of 1.87 billion yuan for 2026. The corresponding dynamic P/E ratios are projected to be 30, 25, and 20 times [19]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 145.74 CNY per share [3][5]. Core Insights - The company experienced rapid growth in 2023, with revenue reaching 3.888 billion CNY, a year-on-year increase of 35.34%. This growth was driven by increasing demand for semiconductor equipment in the domestic market, successful new customer acquisition, and new product recognition [3]. - The company's net profit attributable to shareholders was 911 million CNY, reflecting a year-on-year growth of 36.21%. The gross margin improved to 51.99%, up 3.09 percentage points year-on-year, while the net profit margin was 23.42%, a slight increase of 0.15 percentage points [3]. - The company is steadily advancing its equipment platformization strategy, having developed a range of products including cleaning, semiconductor plating, and advanced packaging equipment. The company has established a leading position in the domestic 12-inch copper interconnect plating equipment market [3]. Financial Summary - In Q4 2023, the company reported revenue of 1.139 billion CNY, a year-on-year increase of 27.22%. The net profit for the quarter was 238 million CNY, up 4.51% year-on-year [3]. - The company forecasts net profits for 2024, 2025, and 2026 to be 1.232 billion CNY, 1.623 billion CNY, and 2.044 billion CNY, respectively, indicating a strong growth trajectory [3][4].

Financial Performance - The company reported a significant increase in revenue, reaching $1.2 billion for the fiscal year 2023, representing a 15% year-over-year growth[12]. - The company's revenue for 2023 reached CNY 3.89 billion, a year-on-year increase of 35.34% driven by growing demand in the domestic semiconductor equipment market[25]. - Net profit attributable to shareholders for 2023 was CNY 910.52 million, reflecting a 36.21% increase compared to the previous year[26]. - Basic earnings per share for 2023 were CNY 2.09, a 35.71% increase from the previous year[27]. - The company's main business revenue for 2023 reached RMB 3.715 billion, a year-on-year increase of 34.78%[108]. - The semiconductor cleaning equipment revenue was RMB 2.614 billion, growing approximately 25.79% year-on-year[109]. - The gross margin improved to 40%, up from 35% in the previous year, due to operational efficiencies[13]. - The gross margin for semiconductor cleaning equipment improved to 48.62%, an increase of 0.34 percentage points compared to the previous year[109]. - The gross margin for other semiconductor equipment reached 59.50%, up by 7.43 percentage points year-on-year[109]. - The company reported a net profit margin of 20%, maintaining strong profitability amidst market challenges[157]. Research and Development - The company is investing $200 million in R&D for advanced packaging technologies, aiming to reduce costs by 15%[13]. - Research and development expenses accounted for 16.93% of total revenue in 2023, up from 14.88% in 2022[27]. - The total R&D investment for the year reached approximately ¥658.36 million, a significant increase of 53.95% compared to the previous year, with R&D expenses accounting for 16.93% of operating revenue, up by 2.05 percentage points[80]. - The company filed 164 patents in 2023, a 78.26% increase from the previous year, bringing the total to 1,113 patents, which is a 24.49% increase year-over-year[41]. - The company has successfully developed the world's first SAPS/TEBO ultrasonic cleaning technology and single-wafer combination cleaning technology, primarily applied in the 12-inch wafer manufacturing cleaning process[87]. - The company is focusing on advanced packaging technologies and new semiconductor processes, including 3D NAND and FinFET[82]. Market Expansion - Market expansion efforts are underway in the Asia-Pacific region, targeting a 30% increase in market share by 2025[14]. - The company is expanding its market presence through strategic advancements in semiconductor manufacturing technologies[82]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share within the next two years[163]. - The company is focused on expanding its market presence in the semiconductor equipment sector, which is characterized by high technical barriers and significant investment requirements[139]. Corporate Governance - The company has established a comprehensive internal control system and governance structure, enhancing risk management and internal controls to protect shareholder rights[42]. - The company emphasizes strict compliance with information disclosure regulations to ensure transparency and protect investor interests[42]. - The company has a dedicated team for investor relations, actively engaging with shareholders and addressing their concerns[151]. - The company conducted 4 shareholder meetings in 2023, with all proposals passed without any rejections[153]. - The company’s governance practices align with regulatory requirements, with no significant discrepancies noted[152]. Risks and Challenges - There are no significant risks that could materially affect the company's operations during the reporting period[4]. - The company faces risks related to technological updates, as the semiconductor equipment industry is technology-intensive and requires continuous R&D investment to maintain competitiveness[89]. - The company is at risk of losing key technical talent, which is crucial for maintaining its competitive edge in the technology-intensive semiconductor equipment industry[89]. - The company faces risks related to macroeconomic fluctuations that could impact demand in the semiconductor equipment sector[97]. - The company has a high customer concentration risk, as major clients may change their non-binding purchase forecasts, potentially leading to significant sales fluctuations[93]. Strategic Initiatives - The company plans to implement a new customer engagement strategy, aiming to increase customer retention rates by 10%[14]. - The company plans to continue focusing on R&D and market expansion to sustain growth in the semiconductor equipment sector[25]. - The company aims to enhance its competitive edge by focusing on technological innovation and meeting the stringent quality requirements of semiconductor industry clients[66]. - The company intends to pursue mergers and acquisitions of high-end semiconductor equipment manufacturers to expand its product range and market coverage[145]. Employee and Talent Management - The workforce grew from 1,199 to 1,578 employees, representing a net increase of 379 employees and a growth rate of 31.61%[42]. - The number of R&D personnel increased by 214, a growth of 41.23% compared to the previous year, reaching a total of 733[84]. - The total compensation for R&D personnel amounted to 27,148.32 million RMB, up from 20,542.19 million RMB in the previous year[84]. - The average salary for R&D personnel decreased to 38.84 million RMB from 43.80 million RMB[84]. Financial Management - The company plans to distribute a cash dividend of 6.27 CNY per 10 shares, totaling 273,188,545.44 CNY, which represents 30% of the net profit attributable to shareholders for 2023[5]. - The company's cash flow from operating activities for 2023 was -CNY 426.96 million, a decline attributed to increased cash payments for raw materials and employee compensation due to rising sales orders[26]. - The company reported a foreign exchange gain of 19.00 million RMB during the reporting period, highlighting the impact of currency fluctuations on financial results[95]. - The company has established a cash dividend policy to protect the rights of minority investors, with no adjustments made during the reporting period[186].

Compa n y U pda te Ch in a Res ear ch Dep t . 阿 2024年2月29日 盛美上海(688082.SH) Buy 买进 朱吉翔 C0044@capitalcom.tw 目标价(元) 115.0 新业务快速增长，2023年业绩靓丽 结论与建议： 公司基本资讯 产业别 电子设备制造 2023年公司营收端增长35%，净利润增长36%，扣非后净利润增长26%。 A股价(2024/2/28) 87.05 同时公司电镀设备获得客户批量重复订单，带动其他半导体设备收入增速增 上证指数(2024/2/28) 2957.85 股价12个月高/低 129.03/68.8 长超过8成，形成新的业绩增长点，标志公司半导体设备平台型企业初具规 总发行股数(百万) 435.71 模。 A股数(百万) 75.86 A市值(亿元) 66.04 展望未来，得益于国内半导体设备市场需求增长、公司在清洗设备领域 主要股东 ACM Research, Inc.(82.09%) 竞争优势的提升以及不断开拓新的半导体设备产品，其业绩具备持续快速增 每股净值(元) 14.82 长潜力。2024-2025年实现净 ...

按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露 内部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责 组织领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内 容不存在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别 及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整， 提高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标 提供合理保证。此外，由于情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程 度降低，根据内部控制评价结果推测未来内部控制的有效性具有一定的风险。 二. 内部控制评价结论 1. 公司于内部控制评价报告基准日，是否存在财务报告内部控制重大缺陷 □是 √否 2. 财务报告内部控制评价结论 公司代码：688082 公司简称：盛美上海 盛美半导体设备（上海）股份有限公司 2023 年度内部控制评价报告 盛美半导体设备（上海）股份有限公司全体股东： 根据《企业内部控制 ...

海通证券股份有限公司关于 盛美半导体设备（上海）股份有限公司 确认2023年度日常关联交易 及2024年度日常关联交易预计的核查意见 海通证券股份有限公司（以下简称"海通证券"或"保荐机构"）作为盛美 半导体设备（上海）股份有限公司（以下简称"盛美上海"或"公司"）首次公 开发行股票并在科创板上市的持续督导保荐机构，根据《证券发行上市保荐业务 管理办法》《上海证券交易所科创板股票上市规则》《上海证券交易所上市公司自 律监管指引第11号——持续督导》以及《上海证券交易所科创板上市公司自律监 管指引第1号——规范运作》等有关规定，对公司确认2023年度日常关联交易及 2024年度日常关联交易预计事项进行了核查，具体情况如下： 一、日常关联交易基本情况 3、公司审计委员会意见 经审核，董事会审计委员会认为：公司2023年已发生的日常关联交易事项公 平、合理，不存在损害公司和其他非关联方股东利益的情形。本次预计2024年度 日常关联交易符合公开、公平、公正的原则，定价公允；公司与关联方的交易符 合公司日常生产经营业务需要，不会损害公司及其股东特别是中小股东的利益， 也不会影响公司的独立性。我们同意本次关联交易事项，并 ...

一、董事会的责任 贵公司董事会的责任是按照中国证券监督管理委员会《上市公司 监管指引第2号 -- 上市公司募集资金管理和使用的监管要求(2022 年修订)》(证监会公告[2022]15号)、《上海证券交易所科创板 上市公司自律监管指引第1号 -- 规范运作》的相关规定编制募集资 金专项报告。这种责任包括设计、执行和维护与募集资金专项报告编 制相关的内部控制,确保募集资金专项报告真实、准确、完整,不存 在虚假记载、误导性陈述或重大遗漏。 关于盛美半导体设备(上海)股份有限公司 2023 年度募集资金存放与使用情况 专项报告的鉴证报告 信会师报字[2024]第 ZI10022 号 立信会计师事务所(特殊普通合伙) BDO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS L 关于盛美半导体设备(上海)股份有限公司 2023年度募集资金存放与使用情况 专项报告的鉴证报告 盛美半导体设备(上海)股份有限公司全体股东: 信会师报字[2024]第ZI10022号 我们接受委托,对后附的盛美半导体设备(上海)股份有限公司 (以下简称"贵公司")2023年度募集资金存放与使用情况专 ...