证券代码：688126 证券简称：沪硅产业 公告编号：2024-045 上海硅产业集团股份有限公司 关于召开 2024 年第三季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、准确性和完整性承担法律责任。 重要内容提示： 上海硅产业集团股份有限公司（以下简称"公司"）已于 2024 年 10 月 31 日 发布公司 2024 年第三季度报告报告，为便于广大投资者更全面深入地了解公司 2024 年第三季度报告经营成果、财务状况，公司计划于 2024 年 11 月 22 日 下 午 16:00-17:00 举行 2024 年第三季度业绩说明会，就投资者关心的问题进行交 流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2024 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 会议召开时间：2024 年 11 月 22 日(星期五) 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 ...

Financial Performance - The company's revenue for Q3 2024 reached CNY 90,915.79 million, an increase of 11.37% year-on-year[2] - The net profit attributable to shareholders was CNY -14,790.94 million, a decrease of 687.94% compared to the same period last year[2] - The basic earnings per share for Q3 2024 was CNY -0.054, reflecting a decrease of 700% compared to the same period last year[2] - The net profit attributable to shareholders for the year-to-date period was CNY -53,646.27 million, a decrease of 352.40% compared to the previous year[2] - The company reported a net loss of CNY 720,377,356.02 for the first three quarters of 2024, contrasting with a profit of CNY 210,745,863.59 in the same period of 2023[17] - The net profit attributable to the parent company for Q3 2024 was -536,462,707.25 RMB, compared to a profit of 212,542,954.70 RMB in Q3 2023, indicating a significant decline[18] - The total comprehensive income for Q3 2024 was -2,172,415,111.33 RMB, compared to 451,832,278.28 RMB in Q3 2023, reflecting a substantial decrease[18] - Net profit for the first three quarters of 2024 was CNY -47,452,920.19, compared to CNY 139,454,867.98 in the same period of 2023, indicating a significant loss[24] Cash Flow and Liquidity - The company reported a cash flow from operating activities of CNY -60,412.77 million year-to-date, indicating challenges in cash generation[2] - Cash flow from operating activities for the first three quarters of 2024 was -604,127,664.82 RMB, worsening from -175,492,292.63 RMB in the same period of 2023[19] - Cash inflow from operating activities totaled 2,936,179,752.26 RMB in the first three quarters of 2024, up from 2,763,833,397.65 RMB in 2023[19] - The total cash and cash equivalents at the end of Q3 2024 were 2,887,866,791.14 RMB, down from 3,580,209,950.24 RMB at the end of 2023[20] - The cash and cash equivalents at the end of Q3 2024 were not specified but are critical for assessing liquidity[15] - The company received cash from sales of goods and services amounting to 2,639,142,543.70 RMB in the first three quarters of 2024, compared to 2,469,879,173.12 RMB in 2023[19] Research and Development - The R&D investment totaled CNY 8,456.52 million, accounting for 9.30% of revenue, an increase of 1.07 percentage points year-on-year[3] - Research and development expenses for the first three quarters of 2024 were CNY 208,085,701.80, compared to CNY 175,241,771.59 in the same period of 2023, indicating a 18.76% increase[17] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,912,028.34 million, a slight increase of 0.30% from the end of the previous year[3] - Total assets as of the end of Q3 2024 amounted to CNY 29,120,283,404.69, slightly up from CNY 29,031,755,835.74 at the end of Q3 2023[15] - Total liabilities increased to CNY 9,544,301,454.71 in Q3 2024, compared to CNY 8,526,434,365.02 in Q3 2023[15] - The company’s total equity decreased to CNY 19,575,981,949.98 from CNY 20,505,321,470.72 year-over-year, reflecting a decline in shareholder value[15] - The total equity of the company decreased from CNY 10,269,939,544.14 to CNY 10,112,940,889.38, a decline of approximately 1.5%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 57,468[8] - The largest shareholder, National Integrated Circuit Industry Investment Fund Co., Ltd., holds 567,000,000 shares, accounting for 20.64% of the total shares[9] - The second-largest shareholder, Shanghai Guosheng Group Co., Ltd., holds 546,000,000 shares, representing 19.87% of the total shares[9] - The company has no pledged shares among its top shareholders[10] - There are no significant changes in the shareholding structure due to margin trading activities[11] Operating Performance - The company experienced a significant increase in sales volume, with a year-on-year growth of nearly 40%[7] - Total operating revenue for the first three quarters of 2024 reached CNY 2,478,562,227.86, an increase of 3.66% compared to CNY 2,390,165,982.90 in the same period of 2023[16] - Total operating costs for the first three quarters of 2024 were CNY 3,259,957,321.08, up from CNY 2,387,740,038.97 in 2023, reflecting a significant increase[17] - Operating profit for the first three quarters of 2024 was a loss of CNY 719,376,908.93, compared to a profit of CNY 210,809,233.82 in the same period of 2023[17] Investment Activities - Cash outflow from investing activities reached 12,401,873,467.62 RMB in the first three quarters of 2024, compared to 9,669,265,163.95 RMB in 2023[20] - The net cash flow from investing activities was -3,409,114,586.11 RMB for the first three quarters of 2024, compared to -2,081,484,814.39 RMB in 2023[20] - The total cash inflow from investment activities in the first three quarters of 2024 was 5,993,528,179.52 RMB, compared to 3,350,374,451.24 RMB in 2023, representing an increase of approximately 78.5%[28] - The total cash outflow from investment activities increased to 6,688,489,315.00 RMB in 2024, up from 3,807,906,955.79 RMB in 2023[28] Financial Ratios - The weighted average return on equity was -1.13% for the reporting period, a decrease of 1.30 percentage points[2] - Financial expenses increased significantly from CNY -2,924,769.14 to CNY 15,868,436.15, reflecting a change of over 600%[24] - The company reported a significant increase in interest expenses, rising from CNY 13,906,155.53 to CNY 45,915,451.48, an increase of approximately 230%[24]

证券代码：688126 证券简称：沪硅产业 公告编号：2024-044 上海硅产业集团股份有限公司 1.存货跌价准备 根据《企业会计准则第 1 号——存货》，资产负债表日，存货应当按照成本 与可变现净值孰低计量。可变现净值，是指在日常活动中，存货的估计售价减去 至完工时估计将要发生的成本、估计的销售费用以及相关税费后的金额。公司对 2024 年 9 月 30 日的存货项目进行减值测试并计提存货跌价准备损失约 4,717.22 万元，其中主要为针对存货成本高于估计售价的硅片产品。 2.坏账准备 关于2024年前三季度计提资产减值准备的公告 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。 一、计提资产减值准备情况概述 根据《企业会计准则》及相关会计政策的规定，为客观、公允地反映公司截 至 2024 年 9 月 30 日的财务状况及经营成果，经公司及下属子公司对各项金融资 产、存货、预付款项和长期资产等进行全面充分的评估和分析，认为其中部分资 产存在一定的减值迹象。经公司财务部门测算，公司 2024 年截至三季度末计提 的各项减值 ...

证券代码：688126 证券简称：沪硅产业 公告编号：2024-043 上海硅产业集团股份有限公司 关于聘任高级管理人员及变更董事会秘书的公告 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。 上海硅产业集团股份有限公司（以下简称"公司"）于 2024 年 9 月 27 日召 开第二届董事会第二十三次会议，审议并通过了《关于聘任公司常务副总裁的议 案》《关于聘任公司执行副总裁的议案》《关于聘任公司董事会秘书的议案》，现 就相关情况公告如下： 一、关于聘任高级管理人员的情况 特此公告。 上海硅产业集团股份有限公司董事会 2024 年 9 月 28 日 地址：中国(上海)自由贸易试验区临港新片区云水路 1000 号 电话：021-52589038 传真：021-52589196 邮箱：pr@sh-nsig.com 附件： 根据《公司法》等法律法规和《上海硅产业集团股份有限公司章程》的规定， 因公司业务发展需要，经总经理提名，董事会提名委员会资格审核，聘任李炜先 生为公司常务副总裁、陈泰祥先生为公司执行副总裁，任期自本次董事会审议 ...

Investment Rating - The investment rating for the company is "Buy" with a maintained rating [1]. Core Views - The company's performance in H1 2024 is under pressure, with a significant decline in net profit and revenue, attributed to a slow recovery in the semiconductor market and ongoing cost pressures [1]. - The company is enhancing its R&D capabilities and accelerating diversification projects, with a notable increase in 300mm silicon wafer production capacity [1]. - Despite the challenges, the company is expected to benefit from the gradual recovery of the semiconductor industry and its strategic capacity expansions [1]. Financial Performance Summary - The company reported a revenue of 1.569 billion yuan in H1 2024, a slight decrease of 0.28% year-on-year [1]. - The net profit attributable to the parent company was -389 million yuan, a significant decline of 307.35% year-on-year [1]. - The non-recurring net profit attributable to the parent company was -429 million yuan, down 1644.69% year-on-year [1]. Capacity Expansion and R&D - The company’s subsidiary, Shanghai Xinsheng, has achieved a monthly production capacity of 500,000 pieces of 300mm silicon wafers, with plans to reach 600,000 pieces per month by the end of 2024 [1]. - R&D investment reached 124 million yuan in H1 2024, an increase of 16.80% year-on-year, accounting for 7.87% of revenue [1]. - The company applied for 41 invention patents and obtained 6 patents in H1 2024, showcasing its strong innovation capabilities [1]. Financial Projections - Revenue projections for 2024E are estimated at 3.870 billion yuan, with a growth rate of 21.32% [2]. - The net profit attributable to the parent company is projected to be 210 million yuan in 2024E, reflecting a growth rate of 12.59% [2]. - The company’s EBITDA for 2024E is expected to be 995.80 million yuan [2]. Market Position and Strategy - The company is positioned as a leading supplier of 300mm silicon wafers in China, with a focus on expanding its market share in high-end applications [1]. - The ongoing projects in both 300mm and 200mm silicon wafer production are aimed at meeting the growing demand in niche markets [1]. - The company is also exploring collaborations in the IGBT/FRD product application market, driven by the growth in electric vehicles and industrial products [1].

Investment Rating - The investment rating for the company is "Buy" with a maintained rating [1] Core Views - The company's performance in H1 2024 is under pressure, with a significant decline in net profit and revenue, attributed to a slow recovery in the semiconductor market and ongoing cost pressures [1] - The company is enhancing its R&D capabilities and accelerating diversification projects, with a notable increase in 300mm silicon wafer production capacity [1] - The global semiconductor market is showing signs of improvement, but the recovery is slower than expected, particularly for smaller wafer sizes [1] Financial Performance Summary - The company reported a revenue of 1.569 billion yuan in H1 2024, a slight decrease of 0.28% year-on-year [1] - The net profit attributable to the parent company was -389 million yuan, a decline of 307.35% year-on-year [1] - The company’s R&D investment reached 124 million yuan, a year-on-year increase of 16.80%, accounting for 7.87% of revenue [1][2] Production Capacity and R&D - The subsidiary Shanghai Xinsheng has maintained stable production capacity and output for 300mm silicon wafers, with a total capacity of 500,000 pieces per month as of June 2024 [1] - The company is expected to complete the second phase of its 300mm silicon wafer capacity project by the end of 2024, aiming for a total production capacity of 600,000 pieces per month [1] - R&D personnel account for 30% of the total workforce, with a strong focus on various technical fields [1] Financial Projections - Revenue projections for 2024 are estimated at 3.870 billion yuan, with a growth rate of 21.32% [2] - The net profit attributable to the parent company is projected to be 210 million yuan in 2024, reflecting a growth rate of 12.59% [2] - The company’s EBITDA for 2024 is expected to be 995.80 million yuan [2] Market Position and Strategy - The company is focusing on expanding its 200mm specialty silicon wafer production to meet niche market demands [1] - The ongoing geopolitical tensions and trade frictions may adversely affect the company's future capacity expansion [1] - The company is actively collaborating with clients in the automotive and industrial sectors to explore new applications for its products [1]

海通证券股份有限公司 关于上海硅产业集团股份有限公司 2024 年度持续督导半年度跟踪报告 | 保荐机构名称：海通证券股份有限公司 | 被保荐公司简称：沪硅产业 | | --- | --- | | 保荐代表人姓名：张博文、曹岳承 | 被保荐公司代码：688126 | 重大事项提示 2024 年上半年，全球半导体市场整体有所改善，但复苏慢于预期。报告期 内，公司实现营业收入为 156,940.43 万元，较上年同期下降-0.28%；归属于上市 公司股东净利润为-38,855.33 万元，较上年同期下滑 57,593.89 万元；归属于上 市公司股东的扣除非经常性损益的净利润为-42,896.27 万元，较上年同期下滑 40,437.60 万元；经营活动产生的现金流量净额为-44,456.12 万元，较上年同期下 滑 40,766.31 万元。 报告期内，公司受产品平均单价下降，叠加持续扩产带来的折旧摊销费用、 持续较高水平的研发投入及其他固定成本增加的影响，归属于上市公司股东的 净利润等利润数据及相关利润指标、经营活动产生的现金流量净额较上年同期 均有明显下降。2024 年 1-6 月，公司生产经营正常，不存在 ...

Group 1: Industry Overview - The semiconductor industry is gradually recovering, with a positive long-term outlook despite experiencing cyclical adjustments [2] - The silicon wafer market is expected to hit bottom in 2024, with a projected year-on-year decline of approximately 11% in the first half of 2024 compared to the same period in 2023 [2] - The recovery in the silicon wafer market will lag behind downstream sectors such as end markets and chip manufacturing [2] Group 2: Company Performance - The company's total revenue for the first half of 2024 was 1.569 billion yuan, remaining stable compared to the same period last year [3] - The company's profit indicators declined due to significant price pressure and increased fixed costs from ongoing capacity expansion and R&D investments [3] - The production capacity for 300mm wafers reached 500,000 pieces per month by mid-2024, with a target of 600,000 pieces per month by the end of the year [3][4] Group 3: Market Dynamics - The demand for 200mm and smaller wafers remains weak, with sales volumes declining significantly, impacting overall company performance [4] - New product development in SOI materials is ongoing, with a focus on 300mm SOI products to meet market demands [5] - The company is preparing for market recovery by expanding its product offerings in high-end segments such as IGBT and advanced sensors [4][5] Group 4: Future Outlook - The company plans to increase production capacity by an additional 600,000 pieces per month, aiming for a total of 1.2 million pieces per month [4] - The company is confident in its competitive positioning for the next three years, particularly in the new energy and automotive sectors [6] - Strategies to improve gross margin include increasing average selling prices (ASP) and continuing R&D efforts to launch high-value products [9]

Investment Rating - The investment rating for the company is "Outperform the Market" [3][19]. Core Views - The company experienced a revenue of 1.569 billion yuan in the first half of 2024, showing a year-on-year decrease of 0.28%. The net profit attributable to shareholders was -389 million yuan, a significant decline of 307.35% year-on-year. The gross margin decreased by 31.7 percentage points to -10.91% due to a drop in average product prices and increased depreciation expenses from capacity expansion [1]. - In Q2 2024, the revenue reached 845 million yuan, reflecting a year-on-year increase of 9.6% and a quarter-on-quarter increase of 16.5%. However, the net profit attributable to shareholders was -191 million yuan, with a gross margin of -13.67% [1]. - The company is expanding its 300mm semiconductor wafer capacity, which currently stands at 500,000 pieces per month, with plans to increase it to 1.2 million pieces per month through new projects in Shanghai and Taiyuan, with a total investment of 13.2 billion yuan [1]. - The company’s subsidiary, Shanghai Xinxing, achieved a revenue of 952 million yuan in the first half of 2024, a year-on-year increase of 49%, contributing 61% to the total revenue [1]. - The company is also advancing its high-end silicon-based material research and development projects, with a trial production line for 300mm wafers already established [1]. Financial Summary - The company’s projected revenues for 2024-2026 are adjusted to 1.84 billion yuan, 2.80 billion yuan, and 3.82 billion yuan respectively, with corresponding price-to-sales ratios of 10.9x, 8.9x, and 7.6x based on the stock price as of August 29, 2024 [1]. - The financial forecast indicates a revenue of 3.788 billion yuan for 2024, an 18.7% increase from 2023, with a net profit of 184 million yuan, reflecting a slight decrease of 1.5% year-on-year [2][17]. - The company’s gross margin is expected to improve gradually, with projections of 10% in 2024, 14% in 2025, and 17% in 2026 [17].

Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2024, representing a year-on-year increase of 15%[9]. - The company's operating revenue for the first half of 2024 was CNY 156,940.43 million, a decrease of 0.28% compared to the same period last year[14]. - The net profit attributable to shareholders was CNY -38,855.33 million, representing a decline of 307.35% year-on-year[14]. - The basic earnings per share for the first half of 2024 was CNY -0.141, a decline of 304.35% from CNY 0.069 in the same period last year[15]. - The company reported a net loss of CNY 52,461,280.57 in the first half of 2024, compared to a profit of CNY 113,941,633.21 in the same period of 2023[127]. - The company reported a net loss of approximately ¥460.22 million for the first half of 2024, compared to a net profit of ¥177.62 million in the same period of 2023, indicating a significant decline in profitability[129]. - The total comprehensive loss for the period was approximately ¥1.89 billion, compared to a comprehensive income of ¥569.67 million in the prior year[130]. Research and Development - The company has allocated RMB 200 million for R&D in advanced semiconductor technologies for the upcoming fiscal year[9]. - Research and development expenses accounted for 7.87% of operating revenue, an increase of 1.15 percentage points compared to the previous year[15]. - The company achieved a total R&D investment of CNY 12,352.05 million, representing a 16.80% increase compared to the previous year, with R&D expenses accounting for 7.87% of operating revenue[25]. - The company applied for 41 invention patents and obtained 6 patents during the reporting period, bringing the total number of invention patents to 612[24]. - The company is developing 300mm IGBT silicon wafers with a total investment of CNY 4,500 million, with CNY 798.93 million invested so far[27]. - The company is also working on 300mm defect-free silicon wafer R&D with a total investment of CNY 16,000 million, having invested CNY 841.58 million to date[27]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[9]. - The company aims to become a "one-stop" silicon materials service provider, focusing on 300mm semiconductor wafers and SOI wafers[31]. - The company is actively pursuing collaborations in the IGBT/FRD product application market to meet the growing demand in the electric vehicle and industrial sectors[1]. - The company is considering strategic acquisitions to enhance its product offerings and expand its customer base, with potential targets identified[75]. Financial Position and Liabilities - The company's total liabilities increased from ¥8,526,434,365.02 to ¥8,823,968,171.81, marking an increase of approximately 3.48%[124]. - The debt-to-asset ratio increased to 32.29% from 29.37% year-on-year, indicating a rise in financial leverage[121]. - The company's interest-bearing debt increased by 1.6% year-on-year, from 18.458 billion RMB at the beginning of the period to 18.761 billion RMB at the end[112]. - The total interest-bearing debt under the consolidated scope increased by 7.8% year-on-year, from 51.68 billion RMB to 55.71 billion RMB[115]. Environmental Responsibility - The company has established environmental protection mechanisms and complies with national and local environmental laws and regulations[59]. - The company achieved compliance with pollutant discharge standards across all monitored discharge points during the reporting period[61]. - The company has implemented measures to ensure that all emissions from its facilities are treated and meet regulatory standards[61]. - The company continues to prioritize environmental responsibility as part of its operational strategy[59]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 61,412[93]. - The top shareholder, National Integrated Circuit Industry Investment Fund Co., Ltd., holds 567,000,000 shares, representing 20.64% of the total shares[94]. - The company has a stock option incentive plan with 26,878,787 shares subject to restrictions, which will become tradable on August 22, 2026[98]. - The company has not disclosed any significant changes in shareholder structure or voting rights restoration for preferred shareholders[93]. Cash Flow and Investments - Cash inflow from operating activities for the first half of 2024 was CNY 1,696,932,241.12, a decrease of 17.2% compared to CNY 2,050,531,218.36 in the same period of 2023[134]. - The ending balance of cash and cash equivalents was CNY 2,776,894,825.04, down from CNY 4,073,457,292.32 at the end of the first half of 2023[137]. - The company received CNY 6,306,435,914.17 in cash from investment recoveries, an increase from CNY 6,219,766,033.65 in the previous year[136]. Operational Challenges - The management highlighted risks related to global supply chain disruptions and their impact on production timelines[3]. - The company is facing risks from international trade tensions, which could impact its capacity expansion due to reliance on imported equipment for 300mm wafers[34]. - The company reported a significant increase in credit impairment losses, totaling ¥5.04 million, compared to a reversal of ¥3.46 million in the previous year[129].