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：2024-03 | --- | --- | --- | |--------------|---------------------------|----------------------------------------------------| | | | | | | £ 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 | | 参与单位名称 | 网络远程参加 2024 | 年度天津辖区上市公司半年报业绩说明会 | | | | 暨投资者网上集体接待日活动的投资者 | | 时间 | | 2024 年 9 月 3 日 | | 地点 | | 全景路演网站（http://rs.p5w.net） | | | 董事长、首席科学家 路新春 | | | 上市公司接待 | 独立董事 李 全 | | | 人员姓名 | | 董事、副总经理、董事会秘书 王同庆 | | | 财务总监 王怀需 | | | 投 ...

证券代码：688120 证券简称：华海清科 公告编号：2024-052 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 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 | | --- | --- | | 回购方案实施期限 | 待股东大会审议通过后 12 个月 | | 预计回购金额 | 5,000 万元~10,000 万元 | | 回购用途 | 用于员工持股计划或股权激励、用于转换公司可转债 | | 累计已回购股数 | 380,260 股 | | 累计已回购股数占总股本比例 | 0.16% | | 累计已回购金额 | 5,791.67 万元 | | 实际回购价格区间 | 127.95 元/股~179.00 元/股 | 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 ...

华海清科股份有限公司 关于参加 2024 年度天津辖区上市公司半年报业绩说 明会暨投资者网上集体接待日活动的公告 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： 活动时间：2024 年 9 月 3 日（星期二）13:30-16:40 活动地点：全景路演网站（http://rs.p5w.net） 活动方式：网络远程 投资者可于 2024 年 8 月 29 日（星期四）至 9 月 2 日（星期一）16：00 前通过华海清科股份有限公司（以下简称"公司"）邮箱 ir@hwatsing.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。 一、活动情况 公司已于 2024 年 8 月 17 日在上海证券交易所网站（www.sse.com.cn）披露 公司《2024 年半年度报告》及其摘要。为进一步加强与投资者的沟通交流，公 司定于 2024 年 9 月 3 日（星期二）13:30-16:40 参加由天津证监局、天津上市 公司协会与深圳市全景网络有限公司联合举办的"2024 年度天津辖区上市公司 半年 ...

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：2024-02 £ 特定对象调研 £ 分析师会议 £ 媒体采访 业绩说明会 投资者关系活 动类别 £ 新闻发布会 £ 路演活动 £ 现场参观 £ 其他 参与单位名称 参加公司 2024 年半年度业绩说明会的投资者，详见附件参会 机构清单 时间 2024 年 8 月 20 日 地点 电话会议 董事长、首席科学家 路新春 上市公司接待 董事、总经理 张国铭 人员姓名 董事、副总经理、董事会秘书 王同庆 财务总监 王怀需 一、公司董事会秘书介绍公司经营业绩主要情况： 投资者关系活 2024 年上半年，公司以更先进制程、更高产能、更低成 动主要内容介 绍 本为重要突破方向，一方面基于现有产品不断进行更新迭代， 另一方面积极布局新技术新产品的开发拓展，在 CMP 装备、 减薄装备及其他产品方面取得了积极成果。公司推出的全新抛 光系统架构 CMP 机台 Universal H300 已经实现小批量出 货；12 英寸超精密晶圆减薄机 Versatile–GP300 已取得多个 领域头部企业的批量订单，获得客户的高度认可；12 英寸晶 ...

本次电话会议我们也是非常荣幸的邀请到公司的董事长首席科学家陆总公司的董事总经理张总公司的董事副总经理兼董秘王总以及公司的财务总监王总参加我们的这个电话会议那我们看到就是公司也是刚刚了发布了2024年的一个中报可以看到 二季度的收入和利润还是在稳步的增长CMP实战率也是在不断的提升更加重要的是我们看到公司持续在推进产品多元化打开新的成长空间像新的曝光系统架构CMP设备晶圆的简薄机晶圆的简薄贴膜一体机晶圆的边缘切割装备等等都进展得非常快速同时公司也是在积极推进新的生产基地的建设 那么接下来的话我们首先有请公司的董秘王总介绍一下半年报的基本情况接下来有请王总尊敬的各位投资者大家下午好欢迎参加华海清科2024年半年度业绩说明会我是董事会秘书王同庆下面由我简要介绍公司2024年上半年的经营情况2024年上半年公司以 更先进制程更高产能和更低成本为重要突破方向一方面基于现有产品不断进行携带更新另一方面积极布局新技术新产品的开发拓展在CMP装备简薄装备及其他产品方面取得了积极的成果公司推出的全新后方系统架构CMP机台H300以实现小批量出货12英寸简薄 精密减薄机GP300已取得多个头部企业的批量订单获得客户的高度认可12 ...

Investment Rating - The report initiates coverage on Huahai Qingke with a "Buy" rating, predicting net profits of 1.009 billion, 1.303 billion, and 1.606 billion yuan for 2024-2026, with corresponding P/E ratios of 31x, 24x, and 19x, which are below the industry average [7][4] Core Views - Huahai Qingke has established a strong technical and market barrier in the CMP equipment sector, with its 12-inch CMP equipment achieving full domestic substitution for 14nm nodes and above, and a domestic market share of 35% in 2023 [4] - The semiconductor market recovery and increased CMP equipment usage due to process advancements present growth opportunities, with China's wafer fab capacity expected to reach 8.85 million and 10.10 million wafers per month in 2024 and 2025, respectively [4] - The company's platform strategy of "equipment + services" creates new profit growth points, with new equipment such as thinning, dicing, and cleaning devices sent to clients for verification by the end of 2023, and a combined market size of these new fields expected to be 2.1 times that of CMP equipment by 2030 [4] Company Overview - Huahai Qingke, originating from Tsinghua University, has been deeply involved in CMP technology for over a decade, achieving significant milestones such as the delivery of its 500th 12-inch CMP machine in July 2024 [19][20] - The company's revenue grew from 19 million yuan in 2017 to 2.508 billion yuan in 2023, with a CAGR of 125.3%, and net profit grew from 98 million yuan in 2020 to 724 million yuan in 2023, with a CAGR of 64.9% [26][4] - CMP equipment accounts for about 90% of the company's revenue, with orders remaining strong, and the company has expanded its product line to include thinning, dicing, and cleaning equipment, as well as wafer regeneration and maintenance services [30][20] Industry Analysis - The global semiconductor equipment market grew from $31.789 billion in 2013 to $106.246 billion in 2023, with China's market growing from $3.37 billion to $36.597 billion in the same period, accounting for 34.4% of the global market in 2023 [53][54] - CMP equipment is a niche market, accounting for 2.5-3.2% of the global semiconductor equipment market, with a global market size of $3.04 billion in 2023 and a Chinese market size of 6.44 billion yuan, expected to grow to 9.319 billion yuan by 2025 [54][63] - The demand for CMP equipment increases with process advancements, with 12-inch wafer lines requiring 17.5 CMP machines per 10,000 wafers per month, compared to 3.7 for 8-inch lines [4][49] Competitive Landscape - The global CMP equipment market is dominated by Applied Materials and Ebara, with a combined market share of over 90%, especially in the most advanced processes below 14nm [65] - In China, Huahai Qingke and Jingyi Jingwei are the main domestic players, with Huahai Qingke achieving full substitution for 14nm and above processes and holding a 35% market share in China in 2023 [65][67] - Huahai Qingke's CMP equipment meets the production requirements for 14nm and above processes, but there is still a technical gap compared to international competitors for processes below 14nm [67]

yaoj@ghzq.com.cn 证券分析师： 杜先康 S0350523080003 duxk01@ghzq.com.cn 研究所： 证券分析师： 姚健 S0350522030001 最近一年走势 相对沪深 300 表现 2024/08/19 表现 1M 3M 12M 华海清科 -9.5% 9.4% 1.1% 沪深 300 -5.1% -8.7% -11.3% 市场数据 2024/08/19 当前价格（元） 130.36 52 周价格区间（元） 119.00-228.33 总市值（百万） 30,859.46 流通市值（百万） 22,157.63 总股本（万股） 23,672.49 流通股本（万股） 16,997.26 日均成交额（百万） 269.03 近一月换手（%） 22.03 2024 年 08 月 19 日 公司研究 评级：买入(首次覆盖) [Table_Title] Q2 业绩稳健增长，平台化布局加速 ——华海清科（688120）2024 年中报点评 事件: 华海清科 8 月 16 日发布 2024 年中报：2024H1 公司实现收入 14.97 亿 元，同比增长 21.23%；实现归母净利润 4.3 ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [4] Core Views - The company's Q2 performance met expectations, with a revenue of 1.497 billion yuan, representing a year-on-year increase of 21.23%, and a net profit of 433 million yuan, up 15.65% [5] - The company continues to enhance its product offerings and platform layout, with significant growth in CMP equipment, supporting materials, technical services, and cleaning equipment [5] - The gross profit margin for H1 2024 was 46.29%, showing stability despite a slight decrease of 0.03 percentage points [5] Summary by Sections Financial Performance - For H1 2024, the company achieved a revenue of 1.497 billion yuan, a 21.23% increase year-on-year, and a net profit of 433 million yuan, up 15.65% [5] - In Q2 2024, revenue reached 816 million yuan, reflecting a 32.03% increase, with net profit at 231 million yuan, a rise of 27.89% [5] - The company maintains its profit forecasts for 2024-2026, with net profits projected at 1.007 billion yuan, 1.290 billion yuan, and 1.677 billion yuan respectively [5] Product Development - The company is actively upgrading its CMP equipment, with the new Universal H300 model already achieving small batch shipments [5] - The Versatile-GP300 thinning equipment has secured multiple orders from leading front-end fabs, while the Versatile-GM300 is undergoing validation at major domestic packaging factories [5] - New cutting equipment, Versatile-DT300, has been sent to several clients for validation, and the cleaning equipment for compound semiconductors has passed its first acceptance test [5] Capacity Expansion and Localization - The company is set to complete its Beijing and Tianjin bases by the end of 2024, which will enhance its production capacity for CMP, thinning, and cleaning equipment [5] - A new investment of 1.698 billion yuan is planned for a new base in Shanghai Lingang to further improve capacity [5] - The company is advancing the localization of key components, having completed the domestic development of critical parts for thinning equipment, with some reaching mass production conditions [5]

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 170.1 CNY, compared to the current price of 136.14 CNY [2]. Core Insights - The company achieved a revenue of 1.497 billion CNY in H1 2024, representing a year-over-year increase of 21.23%. The net profit attributable to shareholders was 433 million CNY, up 15.65% year-over-year [2]. - In Q2 2024, the company reported revenue of 816 million CNY, a year-over-year increase of 32.03% and a quarter-over-quarter increase of 20.00%. The net profit attributable to shareholders was 231 million CNY, reflecting a year-over-year growth of 27.89% [2]. - The company is focusing on enhancing its product offerings and technological innovations, with significant advancements in CMP equipment and other semiconductor technologies [2]. - The construction of new production bases is progressing, aimed at developing high-end semiconductor equipment, which is expected to create new profit growth points [2]. Financial Summary - Total revenue for 2023 is projected at 2.508 billion CNY, with a growth rate of 52.1%. For 2024, revenue is expected to reach 3.632 billion CNY, reflecting a growth rate of 44.8% [3]. - The net profit attributable to shareholders for 2023 is estimated at 724 million CNY, with a growth rate of 44.3%. For 2024, the net profit is projected to be 1.007 billion CNY, indicating a growth rate of 39.1% [3]. - Earnings per share (EPS) is forecasted to be 4.25 CNY for 2024, up from 3.06 CNY in 2023 [3].

Investment Rating - The report maintains an "Accumulate" rating for the company [2][7]. Core Views - The company reported a significant year-on-year revenue growth of 21.23% in H1 2024, with Q2 revenue increasing by 32.03%, primarily driven by accelerated revenue recognition from CMP equipment [3]. - The net profit attributable to the parent company for H1 2024 was 4.33 billion, reflecting a year-on-year increase of 15.65%, with Q2 net profit growing by 27.89% [4]. - The company is expanding its product line and investing in a new integrated circuit equipment manufacturing base in Shanghai, which supports its platform strategy [5][6]. Summary by Sections Financial Performance - H1 2024 revenue reached 1.497 billion, with Q2 revenue at 816 million, marking a significant acceleration in growth [3]. - H1 2024 net profit was 433 million, with a net profit margin of 28.91%, slightly down from the previous year [4]. - The company’s gross margin for H1 2024 was 46.26%, showing stability despite a slight decrease [4]. Product Development and Strategy - The company is enhancing its CMP equipment offerings and has received multiple orders for its thinning and cutting equipment [5]. - The investment in the Shanghai integrated circuit equipment base is aimed at expanding production capacity and developing new products [6]. Future Projections - Revenue forecasts for 2024-2026 are set at 3.5 billion, 4.74 billion, and 6.034 billion, with expected year-on-year growth rates of 39%, 35%, and 27% respectively [7]. - The projected net profit for the same period is 1.009 billion, 1.335 billion, and 1.701 billion, with growth rates of 39%, 32%, and 27% [7].