[Major Financial Data](index=1&type=section&id=I.%20Major%20Financial%20Data) [Major Accounting Data and Financial Indicators](index=1&type=section&id=I.(I)%20Major%20Accounting%20Data%20and%20Financial%20Indicators) The company reported strong revenue growth in Q3 2021 and year-to-date, despite a current period net loss, while total assets increased | Indicator | Current Period (Q3 2021) | YoY Change (%) for Current Period | Year-to-Date (YTD) | YoY Change (%) for YTD | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (million yuan) | 644.439 | 42.36 | 1,767.2912 | 35.22 | | Net Profit Attributable to Shareholders of Listed Company (million yuan) | -4.6322 | -105.73 | 100.6595 | Not Applicable | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) (million yuan) | -26.1508 | Not Applicable | -102.677 | Not Applicable | | Basic Earnings Per Share (yuan/share) | -0.002 | -106.06 | 0.041 | Not Applicable | | Net Cash Flow from Operating Activities (million yuan) | Not Applicable | Not Applicable | 164.645 | 712.88 | | Total R&D Investment (million yuan) | 35.4834 | -9.95 | 88.787 | -14.74 | | **Balance Sheet Indicators** | **End of Current Period** | | **End of Prior Year** | **Change (%) from Prior Year-End** | | Total Assets (million yuan) | 15,161.9824 | | 14,498.5073 | 4.58 | | Total Equity Attributable to Shareholders of Listed Company (million yuan) | 9,903.2077 | | 9,443.04 | 4.87 | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=I.(II)%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses, primarily government subsidies and fair value changes, significantly impacted net profit year-to-date | Item | Amount for Current Period (million yuan) | Amount Year-to-Date (million yuan) | | :--- | :--- | :--- | | Government Subsidies | 56.593 | 186.7247 | | Fair Value Changes in Financial Assets/Liabilities, etc | -33.4426 | 18.4616 | | **Total** | **21.5186** | **203.3365** | [Analysis of Changes in Major Financial Indicators](index=3&type=section&id=I.(III)%20Changes%20and%20Reasons%20for%20Major%20Accounting%20Data%20and%20Financial%20Indicators) Revenue growth was driven by market demand and capacity expansion, while net profit decline was due to a high prior-year base, and operating cash flow significantly improved from government subsidies - Operating revenue growth (**+42.36% for the current period**, **+35.22% year-to-date**) was primarily driven by strong market demand and increased sales from enhanced 300mm semiconductor silicon wafer production capacity[8](index=8&type=chunk)[9](index=9&type=chunk) - Net profit attributable to shareholders for the current period decreased by **105.73%** year-on-year, mainly due to significant fair value gains from the company's investment in Juyuan Xinxing Industry Fund in the prior period, resulting in a high comparison base[9](index=9&type=chunk) - Net cash flow from operating activities increased significantly by **712.88%** year-to-date, primarily due to substantial government subsidies received in the current period[9](index=9&type=chunk) [Shareholder Information](index=4&type=section&id=II.%20Shareholder%20Information) [Shareholding Status of Shareholders](index=4&type=section&id=II.(I)%20Total%20Number%20of%20Common%20Shareholders,%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights,%20and%20Top%20Ten%20Shareholders'%20Shareholding%20Table) The company had 75,860 common shareholders, with state-owned entities as the top two, each holding 22.86% - The total number of common shareholders was **75,860** at the end of the reporting period[10](index=10&type=chunk) | Shareholder Name | Shareholding Ratio (%) | Number of Shares Held (shares) | Nature of Shares | | :--- | :--- | :--- | :--- | | Shanghai Guosheng (Group) Co., Ltd. | 22.86 | 567,000,000 | State-owned Legal Entity | | China Integrated Circuit Industry Investment Fund Co., Ltd. | 22.86 | 567,000,000 | State-owned Legal Entity | | Shanghai Wuyuefeng Integrated Circuit Equity Investment Partnership | 6.53 | 162,000,000 | Other | | Shanghai Jiading Industrial Zone Development (Group) Co., Ltd. | 6.23 | 154,437,600 | State-owned Legal Entity | | Shanghai Xinyang Semiconductor Materials Co., Ltd. | 5.63 | 139,653,500 | Domestic Non-state-owned Legal Entity | | Shanghai Xinwei Technology Group Co., Ltd. | 5.54 | 137,500,000 | State-owned Legal Entity | [Other Reminders](index=7&type=section&id=III.%20Other%20Reminders) [Other Important Information](index=7&type=section&id=Other%20Important%20Information%20Regarding%20the%20Company's%20Operating%20Performance%20During%20the%20Reporting%20Period%20That%20Requires%20Investor%20Attention) The company has no other significant operating information to highlight for investors during the reporting period - The company confirms no other important information regarding its operating performance during the reporting period requires investor attention[14](index=14&type=chunk) [Quarterly Financial Statements](index=7&type=section&id=IV.%20Quarterly%20Financial%20Statements) [Consolidated Balance Sheet](index=7&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2021, total assets increased by 4.58% to 15.162 billion yuan, with equity attributable to parent company owners at 9.903 billion yuan | Item | September 30, 2021 (yuan) | December 31, 2020 (yuan) | | :--- | :--- | :--- | | **Total Assets** | **15,161,982,429.27** | **14,498,507,264.28** | | Total Current Assets | 2,603,643,892.99 | 3,327,717,225.96 | | Total Non-current Assets | 12,558,338,536.28 | 11,170,790,038.32 | | **Total Liabilities** | **5,222,598,683.16** | **4,958,540,172.18** | | Total Current Liabilities | 1,424,353,015.57 | 1,407,214,628.42 | | Total Non-current Liabilities | 3,798,245,667.59 | 3,551,325,543.76 | | **Total Owners' Equity** | **9,939,383,746.11** | **9,539,967,092.10** | | Total Equity Attributable to Parent Company Owners | 9,903,207,727.04 | 9,443,040,007.05 | [Consolidated Income Statement](index=10&type=section&id=Consolidated%20Income%20Statement) In Q1-Q3 2021, operating revenue grew 35.22% to 1.767 billion yuan, with net profit attributable to parent company shareholders turning profitable at 101 million yuan | Item (Q1-Q3 2021) | Amount (yuan) | Amount in Prior Period (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 1,767,291,186.49 | 1,306,961,775.51 | | Operating Profit | 115,311,053.93 | 20,838,492.05 | | Total Profit | 115,923,108.63 | 17,762,291.51 | | Net Profit | 101,235,767.41 | -2,225,452.45 | | Net Profit Attributable to Parent Company Shareholders | 100,659,490.53 | -1,736,940.48 | | Basic Earnings Per Share (yuan/share) | 0.041 | -0.001 | [Consolidated Cash Flow Statement](index=12&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1-Q3 2021, operating cash flow significantly increased to 165 million yuan, while investing outflow narrowed and financing inflow decreased | Item (Q1-Q3 2021) | Amount (yuan) | Amount in Prior Period (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 164,645,019.64 | 20,254,528.49 | | Net Cash Flow from Investing Activities | -638,769,177.37 | -1,904,225,427.57 | | Net Cash Flow from Financing Activities | 49,315,788.67 | 2,171,723,037.13 | | Net Increase in Cash and Cash Equivalents | -432,756,164.46 | 288,202,356.52 | | Cash and Cash Equivalents at Period-End | 847,066,067.64 | 982,242,104.44 | [Impact of New Lease Accounting Standard Implementation](index=14&type=section&id=(II)%20Adjustments%20to%20Financial%20Statements%20at%20the%20Beginning%20of%20the%20First%20Year%20of%20Implementation%20of%20New%20Lease%20Accounting%20Standard%20from%202021) The company adopted the new lease standard from January 1, 2021, adjusting opening financial statements by recognizing right-of-use assets and lease liabilities, with no impact on shareholders' equity - The company first adopted the new lease accounting standard on **January 1, 2021**, adjusting relevant items in the opening financial statements, with comparative financial statements not restated[28](index=28&type=chunk) | Adjustment Item | Adjustment Amount (yuan) | | :--- | :--- | | Right-of-Use Assets | +115,236,320.46 | | Fixed Assets | -73,055,980.94 | | Prepayments | -314,160.00 | | Non-current Liabilities Due Within One Year | +6,483,004.50 | | Lease Liabilities | +55,729,850.06 | | Long-term Payables | -20,346,675.04 |

[Item I. Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) This section contains important declarations from the board, supervisory board, and senior management, and confirms the report is unaudited [1.1 Declaration by Board of Directors, Supervisory Board, and Senior Management](index=3&type=section&id=1.1%20Declaration%20by%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Senior%20Management) The company's board of directors, supervisory board, and senior management declare the quarterly report's content to be true, accurate, and complete, assuming legal responsibility, with all directors attending the review - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions, and assume individual and joint legal responsibility[3](index=3&type=chunk)[40](index=40&type=chunk) - All directors attended the board meeting to review the quarterly report[3](index=3&type=chunk)[40](index=40&type=chunk) [1.2 Unaudited Quarterly Report](index=3&type=section&id=1.2%20Unaudited%20Quarterly%20Report) This company's 2021 first quarterly report is unaudited - This company's first quarterly report is unaudited[3](index=3&type=chunk)[40](index=40&type=chunk) [Item II. Company Basic Information](index=3&type=section&id=Item%20II.%20Company%20Basic%20Information) This section provides an overview of the company's key financial data and shareholder structure for the reporting period [2.1 Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) The company's Q1 2021 key financial data shows a 27.65% increase in operating revenue, a shift from net loss to profit attributable to shareholders, and significant improvement in net cash flow from operating activities, though net profit excluding non-recurring items remains a loss Q1 2021 Key Financial Data (Unit: 10,000 yuan) | Indicator | As of end of reporting period / Year-to-date | As of end of prior year / Prior year-to-date | Change (%) | | :--- | :--- | :--- | :--- | | **Balance Sheet:** | | | | | Total Assets | 1,456,888.42 | 1,449,850.73 | 0.49 | | Net Assets Attributable to Shareholders | 958,162.05 | 944,304.00 | 1.47 | | **Income Statement:** | | | | | Operating Revenue | 53,465.44 | 41,884.38 | 27.65 | | Net Profit Attributable to Shareholders | 906.29 | -5,381.47 | Not applicable | | Net Profit Attributable to Shareholders Excluding Non-recurring Items | -4,559.13 | -7,385.37 | Not applicable | | Weighted Average Return on Net Assets (%) | 0.096 | -1.16 | Not applicable | | Basic Earnings Per Share (yuan/share) | 0.004 | -0.029 | Not applicable | | Diluted Earnings Per Share (yuan/share) | 0.004 | -0.029 | Not applicable | | R&D Investment as % of Operating Revenue (%) | 5.13 | 8.32 | -3.19 | | **Cash Flow Statement:** | | | | | Net Cash Flow from Operating Activities | 4,955.32 | -1,623.79 | Not applicable | - Net profit attributable to shareholders shifted from a loss of **53.81 million yuan** in the prior year to a profit of **9.06 million yuan**[4](index=4&type=chunk)[41](index=41&type=chunk) - Net cash flow from operating activities turned positive at **49.55 million yuan**, compared to a negative **16.24 million yuan** in the prior year[4](index=4&type=chunk)[41](index=41&type=chunk) [2.1.1 Consolidated Key Financial Indicators](index=3&type=section&id=2.1.1%20Consolidated%20Key%20Financial%20Indicators) This section presents the company's Q1 2021 consolidated key financial indicators, including critical data on assets, net assets, revenue, profit, and cash flow Q1 2021 Consolidated Key Financial Indicators (Unit: 10,000 yuan) | Indicator | As of end of reporting period / Year-to-date | As of end of prior year / Prior year-to-date | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,456,888.42 | 1,449,850.73 | 0.49 | | Net Assets Attributable to Shareholders | 958,162.05 | 944,304.00 | 1.47 | | Net Cash Flow from Operating Activities | 4,955.32 | -1,623.79 | Not applicable | | Operating Revenue | 53,465.44 | 41,884.38 | 27.65 | | Net Profit Attributable to Shareholders | 906.29 | -5,381.47 | Not applicable | | Net Profit Attributable to Shareholders Excluding Non-recurring Items | -4,559.13 | -7,385.37 | Not applicable | | Weighted Average Return on Net Assets (%) | 0.096 | -1.16 | Not applicable | | Basic Earnings Per Share (yuan/share) | 0.004 | -0.029 | Not applicable | | Diluted Earnings Per Share (yuan/share) | 0.004 | -0.029 | Not applicable | | R&D Investment as % of Operating Revenue (%) | 5.13 | 8.32 | -3.19 | [2.1.2 Non-recurring Gains and Losses Items and Amounts](index=4&type=section&id=2.1.2%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's Q1 2021 non-recurring gains and losses items and their amounts, revealing non-operating impacts on net profit Q1 2021 Non-recurring Gains and Losses Items and Amounts (Unit: yuan) | Item | Current Period Amount | | :--- | :--- | | Government grants recognized in current profit/loss | 68,767,706.16 | | Fair value change gains/losses from holding or disposing of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and other debt investments, excluding effective hedge accounting related to normal business operations | -14,004,312.77 | | Other non-operating income and expenses apart from the above | 50,830.71 | | Impact of minority interests (after tax) | -11,560.42 | | Income tax impact | -148,422.55 | | Total | 54,654,241.13 | - Government grants were the primary positive contributor to non-recurring gains and losses this period, totaling **68.77 million yuan**[5](index=5&type=chunk)[42](index=42&type=chunk) - Fair value changes in financial assets resulted in a loss of **14.00 million yuan**, negatively impacting non-recurring gains and losses[5](index=5&type=chunk)[42](index=42&type=chunk) [2.2 Shareholder Information](index=5&type=section&id=2.2%20Shareholder%20Information) As of the reporting period end, the company had 75,513 shareholders, with Shanghai Guosheng (Group) Co., Ltd. and China Integrated Circuit Industry Investment Fund Co., Ltd. as co-largest shareholders, each holding 22.86% of restricted shares - As of the end of the reporting period, the total number of shareholders was **75,513**[6](index=6&type=chunk)[43](index=43&type=chunk) - Shanghai Guosheng (Group) Co., Ltd. and China Integrated Circuit Industry Investment Fund Co., Ltd. each held **567 million shares**, representing **22.86%** of shares, all of which are restricted shares[6](index=6&type=chunk)[43](index=43&type=chunk) [2.2.1 Total Number of Shareholders and Top Ten Shareholders' Holdings as of the End of the Reporting Period](index=5&type=section&id=2.2.1%20Total%20Number%20of%20Shareholders%20and%20Top%20Ten%20Shareholders%27%20Holdings%20as%20of%20the%20End%20of%20the%20Reporting%20Period) This section presents the total number of shareholders and detailed information on the top ten shareholders' holdings, including quantity, percentage, restricted status, and shareholder type as of the reporting period end Q1 2021 End Top Ten Shareholders' Holdings (Unit: shares) | Shareholder Name | Shares held at period-end | Percentage (%) | Number of restricted shares held | Number of restricted shares including those lent out via securities refinancing | Pledge or freeze status | Quantity | Shareholder Type | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shanghai Guosheng (Group) Co., Ltd. | 567,000,000 | 22.86 | 567,000,000 | 567,000,000 | None | 0 | State-owned legal person | | China Integrated Circuit Industry Investment Fund Co., Ltd. | 567,000,000 | 22.86 | 567,000,000 | 567,000,000 | None | 0 | State-owned legal person | | Shanghai Jiading Industrial Zone Development (Group) Co., Ltd. | 174,272,600 | 7.03 | 174,272,600 | 174,272,600 | None | 0 | State-owned legal person | | Shanghai Wuyuefeng Integrated Circuit Equity Investment Partnership (Limited Partnership) | 162,000,000 | 6.53 | 162,000,000 | 162,000,000 | None | 0 | Other | | Shanghai Xinwei Technology Group Co., Ltd. | 162,000,000 | 6.53 | 162,000,000 | 162,000,000 | None | 0 | State-owned legal person | | Shanghai Xinyang Semiconductor Materials Co., Ltd. | 139,653,500 | 5.63 | 139,653,500 | 139,653,500 | None | 0 | Domestic non-state-owned legal person | | China Insurance Investment Co., Ltd. - China Insurance Investment Fund (Limited Partnership) | 102,827,763 | 4.15 | 102,827,763 | 102,827,763 | None | 0 | Other | | Industrial and Commercial Bank of China Co., Ltd. - Noah Growth Stock Fund | 35,993,896 | 1.45 | 0 | 0 | None | 0 | Other | | Bank of Communications Co., Ltd. - Noah Hexin Capital Preservation Mixed Fund | 19,210,738 | 0.77 | 0 | 0 | None | 0 | Other | [2.2.2 Top Ten Unrestricted Shareholders' Holdings](index=6&type=section&id=2.2.2%20Top%20Ten%20Unrestricted%20Shareholders%27%20Holdings) This section presents the top ten unrestricted shareholders' holdings and share types as of the reporting period end, reflecting major holders of freely tradable shares Q1 2021 End Top Ten Unrestricted Shareholders' Holdings (Unit: shares) | Shareholder Name | Number of unrestricted tradable shares held | Type and quantity of shares | | :--- | :--- | :--- | | Industrial and Commercial Bank of China Co., Ltd. - Noah Growth Stock Fund | 35,993,896 | RMB ordinary shares 35,993,896 | | Bank of Communications Co., Ltd. - Noah Hexin Capital Preservation Mixed Fund | 19,210,738 | RMB ordinary shares 19,210,738 | | China Merchants Bank Co., Ltd. - ChinaAMC SSE STAR Market 50 Component ETF | 18,244,649 | RMB ordinary shares 18,244,649 | | Industrial and Commercial Bank of China Co., Ltd. - E Fund SSE STAR Market 50 Component ETF | 5,601,803 | RMB ordinary shares 5,601,803 | | China Construction Bank Co., Ltd. - Huatai-PineBridge SSE STAR Market 50 Component ETF | 3,939,882 | RMB ordinary shares 3,939,882 | | Agricultural Bank of China Co., Ltd. - ICBC Credit Suisse SSE STAR Market 50 Component ETF | 3,638,536 | RMB ordinary shares 3,638,536 | | CITIC Securities Co., Ltd. | 2,268,372 | RMB ordinary shares 2,268,372 | | Vanguard Investments Australia Ltd. - Vanguard Emerging Markets Stock Index Fund (ETF) | 1,875,919 | RMB ordinary shares 1,875,919 | | MORGAN STANLEY & CO. INTERNATIONAL PLC. | 1,642,918 | RMB ordinary shares 1,642,918 | | Industrial Bank Co., Ltd. - Boshi Huixing Return One-Year Holding Flexible Allocation Mixed Fund | 1,615,587 | RMB ordinary shares 1,615,587 | [Item III. Significant Events](index=7&type=section&id=Item%20III.%20Significant%20Events) This section details significant changes in the company's financial statement items and indicators, along with explanations for these movements [3.1 Significant Changes and Reasons for Major Financial Statement Items and Indicators](index=7&type=section&id=3.1%20Significant%20Changes%20and%20Reasons%20for%20Major%20Financial%20Statement%20Items%20and%20Indicators) This period saw significant changes in multiple financial statement items and indicators: derivative financial assets and notes payable decreased due to maturity or exchange rate fluctuations, while prepayments and other non-current assets increased due to capacity expansion, and right-of-use assets and lease liabilities were newly recognized under new leasing standards; finance expenses significantly decreased due to higher exchange gains, other income substantially grew from increased utilization of deferred income, and fair value change gains incurred significant losses due to industrial investment fund fluctuations; net cash flow from operating activities turned positive due to increased operating profit, and net cash outflow from investing activities significantly reduced due to the recovery of structured deposits - Derivative financial assets decreased by **100%** to **0**, primarily due to fluctuations in the Euro-USD forward exchange rate[9](index=9&type=chunk)[46](index=46&type=chunk) - Prepayments increased by **46.23%**, mainly due to the company's capacity expansion and increased prepayments for materials[9](index=9&type=chunk)[46](index=46&type=chunk) - Right-of-use assets and lease liabilities were newly recognized due to the adoption of new leasing standards effective January 1, 2021[9](index=9&type=chunk)[46](index=46&type=chunk) - Finance expenses decreased by **65.74%**, primarily due to exchange rate fluctuations resulting in higher exchange gains during the period[9](index=9&type=chunk)[46](index=46&type=chunk) - Other income increased by **217.88%**, mainly due to higher utilization of income-related deferred income during the period[9](index=9&type=chunk)[46](index=46&type=chunk) - Fair value change gains (losses) significantly increased by **1,104.30%** to a loss of **14.00 million yuan**, primarily due to fluctuations in the fair value of the industrial investment fund invested by the company in 2020[9](index=9&type=chunk)[46](index=46&type=chunk) - Net cash flow from operating activities turned positive at **49.55 million yuan**, compared to a negative **16.24 million yuan** in the prior year, mainly due to increased operating profit[11](index=11&type=chunk)[48](index=48&type=chunk) - Net cash flow from investing activities decreased by **69.74%** to a net outflow of **86.09 million yuan**, primarily due to the recovery of **200 million yuan** in matured structured deposits, increasing cash inflow[11](index=11&type=chunk)[48](index=48&type=chunk) [3.1.1 Balance Sheet Item Changes](index=7&type=section&id=3.1.1%20Balance%20Sheet%20Item%20Changes) This section details significant changes in key balance sheet items during the reporting period and their underlying reasons, reflecting shifts in asset and liability structures Significant Changes in Balance Sheet Items (Unit: 10,000 yuan) | Item | March 31, 2021 | December 31, 2020 | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Derivative Financial Assets | - | 109.64 | -100.00 | Mainly due to fluctuations in the Euro-USD forward exchange rate | | Prepayments | 7,508.32 | 5,134.55 | 46.23 | Mainly due to increased prepayments for materials as the company's capacity expanded | | Other Receivables | 793.94 | 2,610.68 | -69.59 | Mainly due to the recovery of rent receivables, advances, and prepaid income tax at the end of 2020 during this period | | Right-of-Use Assets | 11,089.81 | - | Not applicable | Mainly due to the company's adoption of new lease standards effective January 1, 2021 | | Other Non-current Assets | 23,876.66 | 15,983.59 | 49.38 | Mainly due to increased prepayments for machinery, equipment, and other fixed assets as the company's capacity expanded | | Notes Payable | - | 800.00 | -100.00 | Mainly due to the maturity of notes payable at the end of 2020 | | Lease Liabilities | 4,958.13 | - | Not applicable | Mainly due to the company's adoption of new lease standards effective January 1, 2021 | | Long-term Payables | - | 2,034.67 | -100.00 | Mainly due to the company's adoption of new lease standards effective January 1, 2021 | | Minority Interests | 3,106.53 | 9,692.71 | -67.95 | Mainly due to the company's acquisition of minority interests in its controlled subsidiary, Xinao Technology | [3.1.2 Income Statement Item Changes](index=7&type=section&id=3.1.2%20Income%20Statement%20Item%20Changes) This section details significant changes in key income statement items during the reporting period and their underlying reasons, revealing shifts in operating results and profitability Significant Changes in Income Statement Items (Unit: 10,000 yuan) | Item | January-March 2021 | January-March 2020 | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Finance Expenses | 800.38 | 2,336.12 | -65.74 | Mainly due to exchange rate fluctuations, resulting in higher exchange gains during the period | | Add: Other Income | 6,876.77 | 2,163.32 | 217.88 | Mainly due to higher utilization of income-related deferred income during this period, recognized as other income | | Fair Value Change Gains (Losses indicated by '-') | -1,400.43 | -140.15 | 1,104.30 | Mainly due to fluctuations in the fair value of the industrial investment fund invested by the company in 2020 | | Credit Impairment Losses (Losses indicated by '-') | -13.24 | -24.16 | -45.21 | Mainly due to fluctuations in the allowance for doubtful accounts for accounts receivable calculated by the company based on expected credit losses | | Add: Non-operating Income | 7.08 | 23.71 | -70.12 | Mainly due to a decrease in income unrelated to the company's operating activities | | Less: Non-operating Expenses | 2.00 | 0.18 | 1,029.28 | Mainly due to an increase in expenses unrelated to the company's operating activities | | Less: Income Tax Expense | 543.64 | 780.76 | -30.37 | Mainly due to a decrease in the company's current income tax expense | | Fair Value Change of Other Equity Instrument Investments | 42,864.16 | -78,544.49 | -154.57 | Mainly due to fluctuations in the share price of Soitec, a French listed company in which the company invested | | Foreign Currency Financial Statement Translation Differences | -25,498.41 | -932.86 | 2,633.36 | Mainly due to the impact of exchange rate fluctuations | [3.1.3 Cash Flow Statement Item Changes](index=8&type=section&id=3.1.3%20Cash%20Flow%20Statement%20Item%20Changes) This section details significant changes in key cash flow statement items during the reporting period and their underlying reasons, reflecting dynamic shifts in cash inflows and outflows Significant Changes in Cash Flow Statement Items (Unit: 10,000 yuan) | Item | January-March 2021 | January-March 2020 | Change (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 4,955.32 | -1,623.79 | -405.17 | Mainly due to an increase in the company's operating profit during this period | | Net Cash Flow from Investing Activities | -8,608.92 | -28,446.20 | -69.74 | Mainly due to the net amount of structured deposits purchased by the company using raised funds and own funds, which was the recovery of 200 million yuan in matured structured deposits, increasing cash inflow | [3.2 Analysis of Progress, Impact, and Solutions for Significant Events](index=8&type=section&id=3.2%20Analysis%20of%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Events) There are no significant events, their progress, impact, or solutions requiring explanation during this reporting period - There is no analysis or explanation of the progress, impact, or solutions for significant events during this reporting period[11](index=11&type=chunk)[48](index=48&type=chunk) [3.3 Commitments Overdue and Not Yet Fulfilled During the Reporting Period](index=8&type=section&id=3.3%20Commitments%20Overdue%20and%20Not%20Yet%20Fulfilled%20During%20the%20Reporting%20Period) There are no commitments overdue and not yet fulfilled during this reporting period - There are no commitments overdue and not yet fulfilled during this reporting period[11](index=11&type=chunk)[48](index=48&type=chunk) [3.4 Warning and Explanation of Potential Cumulative Net Loss from Year-Beginning to End of Next Reporting Period](index=8&type=section&id=3.4%20Warning%20and%20Explanation%20of%20Potential%20Cumulative%20Net%20Loss%20from%20Year-Beginning%20to%20End%20of%20Next%20Reporting%20Period) The company forecasts that net profit attributable to shareholders, excluding non-recurring items, will remain a loss from the year-beginning to the end of the next reporting period, primarily due to high fixed costs sustained by capacity expansion - The company forecasts that net profit attributable to shareholders, excluding non-recurring items, will remain a loss from the year-beginning to the end of the next reporting period[11](index=11&type=chunk)[48](index=48&type=chunk) - The primary reason for the loss is the company's capacity expansion, leading to persistently high fixed costs[11](index=11&type=chunk)[48](index=48&type=chunk) [Item IV. Appendix](index=9&type=section&id=Item%20IV.%20Appendix) This appendix provides the company's unaudited financial statements for the first quarter of 2021, including consolidated and parent company balance sheets, income statements, and cash flow statements [4.1 Financial Statements](index=9&type=section&id=4.1%20Financial%20Statements) The appendix provides the company's unaudited Q1 2021 financial statements, including consolidated and parent company balance sheets, income statements, and cash flow statements, comprehensively presenting the financial position, operating results, and cash flows for the reporting period - This section includes consolidated and parent company balance sheets, income statements, and cash flow statements[13](index=13&type=chunk)[50](index=13&type=chunk)[15](index=15&type=chunk)[52](index=15&type=chunk)[17](index=17&type=chunk)[54](index=17&type=chunk)[18](index=18&type=chunk)[55](index=18&type=chunk)[21](index=21&type=chunk)[58](index=21&type=chunk)[23](index=23&type=chunk)[60](index=23&type=chunk)[26](index=26&type=chunk)[63](index=26&type=chunk) - All financial statements are unaudited[15](index=15&type=chunk)[52](index=15&type=chunk)[17](index=17&type=chunk)[54](index=17&type=chunk)[18](index=18&type=chunk)[55](index=18&type=chunk)[21](index=21&type=chunk)[58](index=21&type=chunk)[23](index=23&type=chunk)[60](index=23&type=chunk)[26](index=26&type=chunk)[63](index=26&type=chunk) [4.1.1 Consolidated Balance Sheet](index=9&type=section&id=4.1.1%20Consolidated%20Balance%20Sheet) This section presents the company's consolidated balance sheet as of March 31, 2021, showing the period-end status of consolidated assets, liabilities, and owner's equity - As of March 31, 2021, consolidated total assets were **14.57 billion yuan**, a slight increase from **14.50 billion yuan** at the end of 2020[13](index=13&type=chunk)[50](index=13&type=chunk)[15](index=15&type=chunk)[52](index=15&type=chunk) - Total current assets were **3.09 billion yuan**, and total non-current assets were **11.48 billion yuan**[13](index=13&type=chunk)[50](index=13&type=chunk)[14](index=14&type=chunk)[51](index=14&type=chunk) [4.1.2 Parent Company Balance Sheet](index=11&type=section&id=4.1.2%20Parent%20Company%20Balance%20Sheet) This section presents the company's parent company balance sheet as of March 31, 2021, showing the period-end status of parent company assets, liabilities, and owner's equity - As of March 31, 2021, parent company total assets were **5.31 billion yuan**, an increase from **5.26 billion yuan** at the end of 2020[13](index=13&type=chunk)[54](index=13&type=chunk) - Parent company total current assets were **884.04 million yuan**, and total non-current assets were **4.43 billion yuan**[12](index=12&type=chunk)[53](index=12&type=chunk) [4.1.3 Consolidated Income Statement](index=13&type=section&id=4.1.3%20Consolidated%20Income%20Statement) This section presents the company's consolidated income statement for Q1 2021, showing consolidated operating revenue, profit, and earnings per share Q1 2021 Consolidated Income Statement Key Data (Unit: yuan) | Item | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Total Operating Revenue | 534,654,371.09 | 418,843,809.62 | | Operating Profit | 14,314,032.75 | -47,644,736.62 | | Net Profit | 8,928,482.15 | -55,217,018.79 | | Net Profit Attributable to Parent Company Shareholders | 9,062,896.88 | -53,814,666.50 | | Basic Earnings Per Share (yuan/share) | 0.004 | -0.029 | | Diluted Earnings Per Share (yuan/share) | 0.004 | -0.029 | - Total operating revenue increased by **27.65%**, from **418.84 million yuan** to **534.65 million yuan**[18](index=18&type=chunk)[55](index=18&type=chunk) - Net profit shifted from a loss of **55.22 million yuan** in the prior year to a profit of **8.93 million yuan**[19](index=19&type=chunk)[56](index=19&type=chunk) [4.1.4 Parent Company Income Statement](index=16&type=section&id=4.1.4%20Parent%20Company%20Income%20Statement) This section presents the company's parent company income statement for Q1 2021, showing parent company operating revenue, profit, and earnings per share Q1 2021 Parent Company Income Statement Key Data (Unit: yuan) | Item | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Operating Profit | -7,807,742.51 | -14,654,381.43 | | Net Profit | -7,807,742.51 | -14,654,381.43 | | Basic Earnings Per Share (yuan/share) | -0.003 | -0.008 | | Diluted Earnings Per Share (yuan/share) | -0.003 | -0.008 | - Parent company net loss narrowed from **14.65 million yuan** in the prior year to **7.81 million yuan**[22](index=22&type=chunk)[59](index=22&type=chunk) [4.1.5 Consolidated Cash Flow Statement](index=17&type=section&id=4.1.5%20Consolidated%20Cash%20Flow%20Statement) This section presents the company's consolidated cash flow statement for Q1 2021, showing consolidated cash flows from operating, investing, and financing activities Q1 2021 Consolidated Cash Flow Statement Key Data (Unit: yuan) | Item | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 49,553,194.50 | -16,237,887.95 | | Net Cash Flow from Investing Activities | -86,089,234.92 | -284,462,028.42 | | Net Cash Flow from Financing Activities | -37,859,131.52 | -42,298,600.09 | | Net Increase in Cash and Cash Equivalents | -78,509,371.42 | -342,366,456.83 | | Cash and Cash Equivalents at End of Period | 1,201,312,860.68 | 351,673,291.09 | - Net cash flow from operating activities turned positive, increasing from a negative **16.24 million yuan** to **49.55 million yuan**[24](index=24&type=chunk)[61](index=24&type=chunk) - Net cash outflow from investing activities significantly decreased, from **284.46 million yuan** to **86.09 million yuan**[25](index=25&type=chunk)[62](index=25&type=chunk) [4.1.6 Parent Company Cash Flow Statement](index=19&type=section&id=4.1.6%20Parent%20Company%20Cash%20Flow%20Statement) This section presents the company's parent company cash flow statement for Q1 2021, showing parent company cash flows from operating, investing, and financing activities Q1 2021 Parent Company Cash Flow Statement Key Data (Unit: yuan) | Item | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -5,266,518.63 | -122,347,578.56 | | Net Cash Flow from Investing Activities | -36,463,396.30 | -36,398.24 | | Net Cash Flow from Financing Activities | -29,874,858.11 | -69,407,819.13 | | Net Increase in Cash and Cash Equivalents | -71,609,308.84 | -191,791,890.25 | | Cash and Cash Equivalents at End of Period | 17,175,002.36 | 13,384,182.48 | - Net cash outflow from operating activities significantly narrowed, from **122.35 million yuan** to **5.27 million yuan**[28](index=28&type=chunk)[65](index=28&type=chunk) - Net cash outflow from investing activities increased, from **36,398.24 yuan** to **36.46 million yuan**[28](index=28&type=chunk)[65](index=28&type=chunk) [4.2 Adjustments to Financial Statements at the Beginning of the First Year of Adopting New Lease Standards from 2021](index=21&type=section&id=4.2%20Adjustments%20to%20Financial%20Statements%20at%20the%20Beginning%20of%20the%20First%20Year%20of%20Adopting%20New%20Lease%20Standards%20from%202021) Effective January 1, 2021, the company adopted the new lease standards, adjusting financial statement items at the beginning of the year based on cumulative effects, without retrospective adjustment of comparative period information - The company began implementing new lease standards effective January 1, 2021[31](index=31&type=chunk)[68](index=31&type=chunk) - Adjustments were made to retained earnings and other related financial statement items at the beginning of the year based on the cumulative effects of initial adoption of new lease standards[31](index=31&type=chunk)[68](index=31&type=chunk) - Comparative period information was not adjusted[31](index=31&type=chunk)[68](index=31&type=chunk) [4.2.1 Consolidated Financial Statement Adjustments](index=21&type=section&id=4.2.1%20Consolidated%20Financial%20Statement%20Adjustments) This section details the adjustments made to consolidated financial statement items at the beginning of the year due to the initial adoption of new lease standards, including changes in assets and liabilities Consolidated Financial Statement Adjustments (Unit: yuan) | Item | December 31, 2020 | January 1, 2021 | Adjustment Amount | | :--- | :--- | :--- | :--- | | Prepayments | 51,345,525.40 | 51,031,365.40 | -314,160.00 | | Fixed Assets | 3,366,022,459.30 | 3,292,966,478.36 | -73,055,980.94 | | Right-of-Use Assets | - | 115,236,320.46 | 115,236,320.46 | | Total Non-current Assets | 11,170,790,038.32 | 11,212,970,377.84 | 42,180,339.52 | | Total Assets | 14,498,507,264.28 | 14,540,373,443.80 | 41,866,179.52 | | Non-current Liabilities Due Within One Year | 244,960,046.19 | 251,443,050.69 | 6,483,004.50 | | Lease Liabilities | - | 55,729,850.06 | 55,729,850.06 | | Long-term Payables | 20,346,675.04 | - | -20,346,675.04 | | Total Non-current Liabilities | 3,551,325,543.76 | 3,586,708,718.78 | 35,383,175.02 | | Total Liabilities | 4,958,540,172.18 | 5,000,406,351.70 | 41,866,179.52 | - New right-of-use assets of **115.24 million yuan** and lease liabilities of **55.73 million yuan** were recognized[29](index=29&type=chunk)[66](index=29&type=chunk)[30](index=30&type=chunk)[67](index=30&type=chunk) - Fixed assets decreased by **73.06 million yuan**, and long-term payables decreased by **20.35 million yuan**[29](index=29&type=chunk)[66](index=29&type=chunk)[30](index=30&type=chunk)[67](index=30&type=chunk) [4.2.2 Parent Company Financial Statement Adjustments](index=23&type=section&id=4.2.2%20Parent%20Company%20Financial%20Statement%20Adjustments) This section details the adjustments made to parent company financial statement items at the beginning of the year due to the initial adoption of new lease standards, including changes in assets and liabilities Parent Company Financial Statement Adjustments (Unit: yuan) | Item | December 31, 2020 | January 1, 2021 | Adjustment Amount | | :--- | :--- | :--- | :--- | | Right-of-Use Assets | - | 478,870.81 | 478,870.81 | | Total Non-current Assets | 4,308,922,155.36 | 4,309,401,026.17 | 478,870.81 | | Total Assets | 5,264,044,269.58 | 5,264,523,140.39 | 478,870.81 | | Non-current Liabilities Due Within One Year | 76,980,454.52 | 77,236,683.24 | 256,228.72 | | Lease Liabilities | - | 222,642.09 | 222,642.09 | | Total Non-current Liabilities | 169,820,000.00 | 170,042,642.09 | 222,642.09 | | Total Liabilities | 420,762,132.21 | 421,241,003.02 | 478,870.81 | - Parent company recognized new right-of-use assets of **478,870.81 yuan** and lease liabilities of **222,642.09 yuan**[34](index=34&type=chunk)[71](index=34&type=chunk)[36](index=36&type=chunk)[73](index=36&type=chunk) [4.3 Explanation of Retrospective Adjustment of Prior Period Comparative Data for Initial Adoption of New Lease Standards from 2021](index=26&type=section&id=4.3%20Explanation%20of%20Retrospective%20Adjustment%20of%20Prior%20Period%20Comparative%20Data%20for%20Initial%20Adoption%20of%20New%20Lease%20Standards%20from%202021) The company did not retrospectively adjust prior period comparative data for the initial adoption of new lease standards from 2021 - The company did not retrospectively adjust prior period comparative data for the initial adoption of new lease standards from 2021[37](index=37&type=chunk)[74](index=37&type=chunk) [4.4 Audit Report](index=26&type=section&id=4.4%20Audit%20Report) This quarterly report does not include an audit report - This quarterly report does not include an audit report[37](index=37&type=chunk)[74](index=37&type=chunk)

Financial Performance - The company reported no profit distribution for the fiscal year 2020, with a proposal to not allocate statutory surplus reserves or discretionary reserves[4]. - The company's operating revenue for 2020 was CNY 181,127.78 million, an increase of 21.36% compared to CNY 149,250.98 million in 2019[18]. - The net profit attributable to shareholders of the listed company was CNY 8,707.08 million, a significant turnaround from a loss of CNY 8,991.45 million in 2019[18]. - The company reported a basic earnings per share of CNY 0.038 for 2020, compared to a loss of CNY 0.050 per share in 2019[19]. - The net cash flow from operating activities was CNY 37,654.60 million, a decrease of 57.53% from CNY 88,670.19 million in 2019[18]. - The company reported a net profit of approximately 367.72 million RMB for the reporting period, indicating strong financial performance despite market challenges[24]. - The company reported a net loss of CNY -28,064.76 million after deducting non-recurring gains and losses, an increase in loss of CNY 4,327.31 million compared to the previous year[49]. - The company achieved operating revenue of 1,811.28 million RMB in 2020, representing a year-on-year growth of 21.36%[58]. - The net profit attributable to shareholders was 87.07 million RMB, marking a turnaround from a loss to profit[58]. Assets and Investments - The company's total assets increased by 45.52% to CNY 1,449,850.73 million at the end of 2020, compared to CNY 996,324.41 million at the end of 2019[20]. - The net assets attributable to shareholders of the listed company rose by 86.18% to CNY 944,304.00 million at the end of 2020, up from CNY 507,201.00 million in 2019[18]. - Cash and cash equivalents increased by CNY 58,123.54 million, an 81.8% increase, primarily due to funds raised from the initial public offering and other financial activities[43]. - The company’s long-term equity investments increased by CNY 3,432.15 million, a 100% increase, due to investments in research and innovation centers[43]. - The company has ongoing projects with a total expected investment of CNY 64,712.36 million, with CNY 12,424.46 million invested in the current period[39]. Research and Development - Research and development expenses accounted for 7.23% of operating revenue in 2020, an increase from 5.64% in 2019[19]. - The company achieved a significant increase in R&D investment, totaling CNY 13,096.56 million, representing a 55.62% increase compared to the previous year, with R&D investment accounting for 7.23% of total revenue[37]. - The number of R&D personnel increased to 488, representing 30.87% of the total workforce, with an average salary of CNY 23.75 million[40]. - The company has mastered key technologies in wafer production, including crystal growth and polishing, positioning itself as a leader in the domestic market[29]. - The company successfully developed 14nm logic product silicon wafers and achieved mass production capabilities, covering mainstream chip types including DRAM and 3D NAND[47]. Market Position and Strategy - The company achieved a revenue of approximately 1.81 billion RMB in 2020, with a global market share of 2.3%, up from 1.8% in 2019[30]. - The semiconductor wafer industry is experiencing a supply tightness expected to last 2-3 years, driven by demand from 5G and data centers[29]. - The company has established long-term partnerships with major clients including TSMC, GlobalFoundries, and SMIC, covering markets in North America, Europe, and Asia[26]. - The company aims to become a "one-stop" silicon material service provider, ensuring effective supply of silicon materials while integrating into international markets[89]. - The company plans to expand production capacity for 300mm semiconductor wafers to meet increasing market demand driven by mobile communication, IoT, and automotive electronics[91]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from PwC Zhong Tian Certified Public Accountants[3]. - The company has confirmed that all directors are able to ensure the authenticity, accuracy, and completeness of the annual report[5]. - The company has not disclosed any special arrangements for corporate governance[5]. - The company has not violated any decision-making procedures regarding external guarantees[5]. - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[118]. Risks and Challenges - The company has outlined various operational risks and corresponding mitigation measures in the report[3]. - The report includes a forward-looking statement risk declaration, indicating that future plans and strategies do not constitute commitments to investors[5]. - The company faces risks related to potential future losses and the inability to distribute cash dividends to shareholders due to accumulated losses and the performance of its subsidiaries[49]. - The company is exposed to foreign exchange risks due to reliance on imported raw materials and equipment[54]. - The ongoing international trade tensions, particularly between the US and China, could adversely affect the company's production capacity expansion[57]. Shareholder and Equity Information - The company reported a total guarantee amount of 424,780.70 million RMB, which accounts for 44.53% of the company's net assets[130]. - The company has a cash dividend policy that stipulates a minimum cash dividend of 10% of the distributable profits if no major investment plans are in place[93]. - The company reported a commitment to ensure the accuracy and completeness of its prospectus, stating that there are no false records or misleading statements[107]. - The company has committed to not transferring or entrusting the management of shares held before the public offering for 36 months from the listing date[97]. - The company has no actual controller, as no single shareholder holds more than 50% of the voting rights[171]. Environmental Compliance - The company has invested in pollution control facilities, ensuring that wastewater, waste gas, and noise emissions comply with standards[147]. - All subsidiaries have obtained environmental impact assessment approvals and related environmental protection administrative licenses for their construction projects[148]. - Continuous online monitoring of wastewater pollutants is conducted, with data subject to supervision by environmental authorities[150]. - The company and its subsidiaries comply with environmental regulations, with no significant penalties for violations reported[151].

公司代码：688126 公司简称：沪硅产业 2020 年半年度报告 上海硅产业集团股份有限公司 2020 年半年度报告 1 / 164 2020 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险及应对措施，敬请查阅本 报告"第四节经营情况讨论与分析"。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人俞跃辉、主管会计工作负责人梁云龙及会计机构负责人（会计主管人员）梁云龙 声明：保证半年度报告中财务报告的真实、准确、完整。 六、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性陈述，不构成本公司对投资者的承诺，敬请 投资者注意投资风险。 九、 是否存在被控股股东及其关联方非经营性占用资金情况 否 十、 是否存在违 ...

2019 年年度报告 公司代码：688126 公司简称：沪硅产业 上海硅产业集团股份有限公司 2019 年年度报告 1 / 209 2019 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险及应对措施，敬请查阅本 报告"第四节 经营情况讨论与分析"。 三、 公司全体董事出席董事会会议。 四、 普华永道中天会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 五、 公司负责人俞跃辉、主管会计工作负责人梁云龙及会计机构负责人（会计主管人员）梁云龙 声明：保证年度报告中财务报告的真实、准确、完整。 六、 经董事会审议的报告期利润分配预案或公积金转增股本预案 公司于2020年4月27日召开的第一届董事会第十八次会议审议通过了《关于2019年度利润分配 方案的议案》，2019年度利润分配方案为不提取法定盈余公积金和任意公积金，也不进行利润分 配。本次利润分配方案尚需经股东大会审议批准。 七、 是否 ...