Company Highlights - Huahai Qingsi's stock price reached a historical high, increasing by 4.06% to 209.78 yuan, with a trading volume of 1.0778 million shares and a transaction amount of 221 million yuan [1] - The latest total market capitalization of Huahai Qingsi in A-shares is 49.66 billion yuan, while the circulating market capitalization is 35.66 billion yuan [1] - The margin trading data shows that as of November 8, the latest margin balance for Huahai Qingsi is 433 million yuan, with a financing balance of 424 million yuan, reflecting a recent increase of 18.55 million yuan, a 4.57% growth [1] Industry Overview - The electronic industry, to which Huahai Qingsi belongs, has an overall increase of 2.48%, with 404 stocks rising in price, including 11 stocks hitting the daily limit [1] - Among the stocks that declined, 64 experienced a drop, with the largest declines seen in Huaying Technology, Landai Technology, and Bodao Co., with declines of 10.05%, 10.01%, and 9.34% respectively [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][4]. Core Insights - The company has maintained high growth in Q3 2024, with a year-on-year revenue increase of 57.63% and a quarter-on-quarter increase of 17% [5][6]. - The company benefits from the acceleration of domestic equipment localization, leading to an increase in market share for its CMP products and related services [6]. - The company has completed the first verification of its thinning equipment, which is expected to enhance its core competitiveness in advanced packaging technologies [7]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 2.452 billion yuan, representing a year-on-year increase of 33.22% [5]. - The net profit attributable to shareholders was 721 million yuan, with a year-on-year growth of 27.8% [5]. - The gross margin was 45.82%, slightly down by 0.64 percentage points year-on-year, while the net margin was 29.4%, down by 1.25 percentage points year-on-year [5]. - The Q3 2024 single-quarter revenue was 955 million yuan, with a year-on-year increase of 57.63% and a quarter-on-quarter increase of 17% [5]. - The projected net profits for 2024, 2025, and 2026 are expected to be 1.008 billion yuan, 1.312 billion yuan, and 1.705 billion yuan, respectively [5]. Market Position and Growth Drivers - The company is recognized as a leading domestic CMP provider, benefiting from increased R&D investment and production capacity [6]. - The market share of CMP products continues to rise, driving growth in key consumables and maintenance services [6]. - The introduction of advanced packaging technologies is anticipated to significantly boost demand for thinning equipment, positively impacting the company's future development [7].

参与单位名称 线上参加公司 2024 年第三季度业绩说明会的投资者，详见附 件参会机构清单 证券代码：688120 证券简称：华海清科 华海清科股份有限公司投资者关系活动记录表 编号：2024-04 | --- | --- | --- | |--------------|------------------|------------| | | | | | | £ 特定对象调研 | 分析师会议 | | 投资者关系活 | £ 媒体采访 | 业绩说明会 | | 动类别 | £ 新闻发布会 £ | 路演活动 | | | £ 现场参观 £ | 其他 | | --- | --- | --- | |-----------------------|-----------------------------------|----------------------------------------------------------------------------------------------| | 时间 \n地点 | 董事长、首席科学家 路新春 | 2024 年 10 月 30 日 \n电话会议及上证路演中心（ ...

证券代码：688120 证券简称：华海清科 公告编号：2024-056 华海清科股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 因公司实施 2023 年年度权益分派事项，本次以集中竞价交易方式回购股份价 格上限由不超过 260.00 元/股（含）调整为不超过 174.19 元/股（含），调整后的 回购价格上限于 2024 年 7 月 2 日生效。具体内容详见公司于 2024 年 6 月 26 日披 露在上海证券交易所网站（www.sse.com.cn）的《关于 2023 年年度权益分派实施 后调整回购股份价格上限的公告》（公告编号：2024-043）。 二、 回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，公司应在每个月的前 3 个交易日内公告截至上月 末的回购进展情况。现将公司回购股份进展的具体情况公告如下： 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、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/3/5，由董事长路新春先生提议 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 224.64 RMB [2][5][7]. Core Insights - The company reported a revenue of 955 million RMB in Q3 2024, representing a year-on-year increase of 57.63% and a quarter-on-quarter increase of 17.00%. The net profit attributable to the parent company was 288 million RMB, up 51.74% year-on-year and 24.97% quarter-on-quarter [1][2]. - For the first three quarters of 2024, the company achieved a total revenue of 2.452 billion RMB, a year-on-year increase of 33.22%, and a net profit of 721 million RMB, up 27.80% year-on-year [1][2]. - The company's gross margin for Q3 2024 was 45.08%, with a net profit margin of 30.2%, indicating continuous improvement in profitability [2]. - The expansion of CMP (Chemical Mechanical Planarization) customer base and the increase in revenue from consumables and maintenance services contributed significantly to the revenue growth [1][2]. Summary by Sections Financial Performance - Q3 2024 revenue: 955 million RMB, YoY +57.63%, QoQ +17.00% [1][2]. - Q3 2024 net profit: 288 million RMB, YoY +51.74%, QoQ +24.97% [1][2]. - First three quarters 2024 revenue: 2.452 billion RMB, YoY +33.22% [1][2]. - First three quarters 2024 net profit: 721 million RMB, YoY +27.80% [1][2]. Business Strategy - The company is focusing on a "Equipment + Service" platform strategy, exploring new opportunities in thinning, cutting, cleaning, and measurement equipment [2]. - The Versatile-GP300 thinning equipment has successfully completed verification, and the company is expanding its product offerings to various semiconductor processes [2]. Valuation - The revenue forecasts for 2024-2026 have been revised upwards to 3.514 billion RMB, 4.794 billion RMB, and 6.206 billion RMB respectively [2]. - Corresponding net profit forecasts are 1.015 billion RMB, 1.363 billion RMB, and 1.707 billion RMB for the same periods [2]. - The report assigns a valuation premium based on the company's platform strategy, with a target price set at 224.64 RMB, reflecting a 39x PE for 2025 [2].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has shown robust growth in Q3 2024, with revenue reaching 2.452 billion yuan, a year-on-year increase of 33.2%, driven by strong demand in the integrated circuit industry and an expanding market share for CMP products [2] - The net profit attributable to the parent company for Q3 2024 was 721 million yuan, up 27.8% year-on-year, attributed to revenue growth and tax benefits [2] - The company's gross margin remains stable at 45.8%, with a slight year-on-year decrease of 0.6 percentage points [3] - Significant growth in inventory and contract liabilities was noted, with contract liabilities at 1.505 billion yuan, up 18% year-on-year, and inventory at 3.312 billion yuan, up 45% year-on-year [3] - The company is expected to benefit from the rapid development of AI and high-performance computing, leading to increased demand for its CMP and thinning equipment [4] - The forecast for net profit attributable to the parent company for 2024-2026 is 1.08779 billion yuan, 1.38169 billion yuan, and 1.58054 billion yuan, respectively, with corresponding dynamic P/E ratios of 40, 31, and 27 [4] Financial Summary - For Q1-Q3 2024, the company achieved total revenue of 2.452 billion yuan, with a gross margin of 45.8% and a net profit margin of 29.4% [2][3] - The company's operating cash flow for Q3 was 504 million yuan, a significant increase of 391% year-on-year [3] - The projected revenue for 2024 is 3.534 billion yuan, with a year-on-year growth rate of 40.92% [1][10] - The company's total assets are projected to reach 11.986 billion yuan by 2024, with total liabilities of 5.378 billion yuan [10]

Investment Rating - The report maintains a "Recommended" rating for the company [1][6] Core Insights - The company achieved a record high revenue of 24.52 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 33.22%. The net profit attributable to shareholders was 7.21 billion yuan, up 27.80% year-on-year [3][6] - The demand in emerging application fields has significantly increased, leading to a continuous improvement in the company's gross margin. The gross margin for Q3 was 45.08%, with a net margin of 30.16% [3][6] - The company is actively advancing the development of new products and technologies, enhancing its market competitiveness. New product launches include the Universal H300 CMP machine and the Versatile-GM300 wafer thinning machine [4][5][6] Financial Summary - For the first three quarters of 2024, the company reported a revenue of 24.52 billion yuan and a net profit of 7.21 billion yuan, with a non-recurring net profit of 6.15 billion yuan [3] - The company expects to achieve revenues of 34.88 billion yuan in 2024, with net profits projected at 10.09 billion yuan, reflecting a growth trajectory [6][10] - The earnings per share (EPS) are forecasted to be 4.26 yuan for 2024, 5.38 yuan for 2025, and 6.71 yuan for 2026, with corresponding price-to-earnings (P/E) ratios of 43.4X, 34.4X, and 27.6X respectively [6][10]

Investment Rating - The report maintains a "Buy" rating for the company [5][4]. Core Views - Q3 performance slightly exceeded expectations, with accelerated equipment acceptance and steady progress in platform layout [4]. - The company is enhancing its capacity layout and accelerating the localization of components [4]. Financial Summary - Revenue for 2022 was 1,649 million, projected to grow to 2,508 million in 2023, and reach 5,981 million by 2026, reflecting a growth rate of 104.9% in 2022 and 52.1% in 2023 [3]. - Net profit attributable to the parent company was 502 million in 2022, expected to rise to 724 million in 2023 and 1,677 million by 2026, with a growth rate of 153.0% in 2022 and 44.3% in 2023 [3]. - The earnings per share (EPS) is projected to be 2.12 in 2022, increasing to 3.06 in 2023 and 7.08 by 2026 [3]. - The return on equity (ROE) is expected to improve from 10.5% in 2022 to 17.9% by 2026 [3]. Performance Highlights - For Q1-Q3 2024, the company achieved revenue of 2,452 million, a year-on-year increase of 33.22%, and a net profit of 721 million, up 27.8% [4]. - In Q3 2024 alone, revenue reached 955 million, marking a 57.63% increase, with net profit at 288 million, up 51.74% [4]. - The gross margin for Q1-Q3 2024 was 45.82%, with a net margin of 29.4% [4]. Equipment and Product Development - The company is advancing its CMP equipment, with the Universal H300 achieving small batch shipments in the first half of 2024 [4]. - The Versatile-GP300 thinning equipment has secured multiple orders from leading front-end fabs, while the Versatile-GM300 is being validated at domestic packaging testing facilities [4]. - New cutting equipment for advanced packaging has been sent to multiple clients for validation [4]. Capacity and Localization Efforts - The Beijing and Tianjin bases are expected to complete construction by the end of 2024, enhancing CMP, thinning, and cleaning equipment capacity [4]. - The company is investing 1.698 billion in a new base in Shanghai Lingang [4]. - Localization efforts have progressed, with key components like the spindle and multi-hole suction cups reaching mass production conditions [4].

《科创板日报》10月29日讯（记者 吴旭光） 10月29日晚间，CMP半导体设备供应商华海清科公布2024 年三季报。 该公司前三季度实现营业收入24.52亿元，同比增长33.2%；完成归母净利润7.21亿元，同比增长27.8% ；扣非归母净利润6.15亿元，同比增长33.8%；经营现金流净额为8.76亿元，同比增长136.1%。 今年第三季度，该公司实现营收为9.55亿元，同比增长57.6%；归母净利润2.88亿元，同比增长51.7%； 扣非归母净利润2.46亿元，同比增长62.4%。 截至三季度末，该公司总资产109.38亿元，较上年度末增长20.0%；归母净资产为61.65亿元，较上年度 末增长11.7%。 对于营业收入增长，华海清科表示，主要系该公司把握住了集成电路产业需求拉动所带来的市场机遇， 加大研发投入，其CMP产品作为集成电路前道制造的关键工艺装备之一，市场占有率不断提高 。 "随着公司CMP产品的市场保有量扩大，关键耗材与维保服务等业务规模逐步放量，同时晶圆再生及湿 法装备收入逐步增加，公司营业收入较同期增长。"华海清科进一步表示。 2024年前三季度，该公司毛利率为45.82%，同比下降0 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥955,024,737.35, representing a year-on-year increase of 57.63%[2] - Net profit attributable to shareholders for Q3 2024 was ¥288,051,469.58, up 51.74% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was ¥246,428,215.86, reflecting a 62.36% increase year-on-year[2] - Basic and diluted earnings per share for Q3 2024 were both ¥3.04, compared to ¥2.38 in Q3 2023, representing a 27.5% increase[16] - The total comprehensive income for Q3 2024 reached approximately ¥718.94 million, up from ¥571.87 million in the same period last year, reflecting a growth of 25.7%[16] - Net profit for the first three quarters of 2024 was ¥720,702,833.04, representing a 27.8% increase from ¥563,929,246.56 in the same period of 2023[15] Research and Development - The total R&D investment for Q3 2024 amounted to ¥87,870,692.50, which is a 17.10% increase compared to the same period last year[2] - Research and development expenses for the first three quarters of 2024 amounted to ¥255,510,813.74, an increase of 19.5% compared to ¥213,746,113.75 in 2023[15] - The ratio of R&D investment to operating revenue decreased to 9.20%, down 3.18 percentage points from the previous year[3] Assets and Liabilities - The total assets of the company as of the end of Q3 2024 were ¥10,938,382,805.29, a 19.97% increase from the end of the previous year[3] - The company's total assets increased to ¥10,938,382,805.29 in Q3 2024, up from ¥9,117,359,632.14 in Q3 2023, reflecting a growth of 19.9%[14] - Total liabilities as of Q3 2024 were ¥4,773,492,450.28, compared to ¥3,599,623,655.77 in Q3 2023, marking an increase of 32.6%[14] - The company's equity attributable to shareholders reached ¥6,164,890,355.01 in Q3 2024, up from ¥5,517,735,976.37 in Q3 2023, indicating a growth of 11.7%[14] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 136.06% year-on-year, totaling ¥876,222,630.75[2] - Cash inflow from operating activities for the first three quarters of 2024 was approximately ¥3.17 billion, a significant increase from ¥2.09 billion in the same period of 2023[17] - The net cash flow from operating activities for Q3 2024 was approximately ¥876.22 million, compared to ¥371.19 million in Q3 2023, indicating a growth of 136.3%[17] - The cash outflow from investing activities in Q3 2024 was approximately ¥4.99 billion, slightly higher than ¥4.96 billion in Q3 2023, resulting in a net cash outflow of approximately ¥559.23 million[18] - The cash flow from financing activities in Q3 2024 showed a net outflow of approximately ¥331.36 million, compared to a net inflow of approximately ¥420.98 million in Q3 2023[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,254, with the largest shareholder, Qingkong Chuangye Investment Co., Ltd., holding 66,752,273 shares, representing 28.20% of the total shares[7] - There are no significant changes in the top 10 shareholders or their shareholding status compared to the previous period[11] Market and Operational Status - The company has expanded its market share in the integrated circuit industry, leading to increased revenue from key products and services[6] - The company has not disclosed any new product launches or technological developments during this reporting period[9] - The company has not announced any new market expansion or acquisition strategies in this quarter[9] - There are no other important reminders regarding the company's operational status during the reporting period[12] Inventory and Receivables - Accounts receivable increased to RMB 682.78 million from RMB 477.20 million, reflecting a growth of approximately 43% year-over-year[12] - Inventory surged to RMB 3.31 billion, up from RMB 2.42 billion, indicating a year-over-year increase of about 37%[12] - The total current assets reached RMB 9.06 billion, compared to RMB 7.69 billion at the end of 2023, marking an increase of approximately 17%[12] - The company reported a significant increase in trading financial assets, rising to RMB 2.22 billion from RMB 2.02 billion, which is an increase of about 10%[12]