国泰海通证券股份有限公司 关于锦州神工半导体股份有限公司 2025 年半年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》（以下简称"《保荐办法》"）、《上 海证券交易所科创板股票上市规则》（以下简称"《上市规则》"）、《上海证券交易 所上市公司自律监管指引第 11 号——持续督导》等有关法律、法规的规定，国 泰海通证券股份有限公司（以下简称"保荐机构"）作为锦州神工半导体股份有 限公司（以下简称"神工股份"和"公司"）持续督导工作的保荐机构，负责神 工股份上市后的持续督导工作，并出具本 2025 年半年度持续督导跟踪报告。本 持续督导半年度跟踪报告释义与公司 2025 年半年度报告一致。 | 项目 | 工作内容 | | --- | --- | | 1、建立健全并有效执行持续督导工作制度， | 保荐机构已建立健全并有效执行持续督导 | | | 工作制度，针对公司的具体情况确定持续 | | 针对公司的具体情况确定持续督导的内容 | 督导的内容和重点，督导公司履行有关上 | | 和重点，督导公司履行有关上市公司规范运 | | | | 市公司规范运作、信守承诺和信息披露等 | | 作、信守承诺和信息披露等义 ...

Core Viewpoint - The solar photovoltaic demand in Q2 2025 has rapidly increased due to domestic rush installations, leading to a recovery in revenue and gross margins for major industry chain companies. Additionally, the easing of U.S. tariffs has significantly improved profitability in the U.S. market after companies streamlined their supply chains [1] Industry Chain Summary - The revenue of the main industry chain has increased, and gross margins have generally recovered, although there is differentiation among segments and companies. The downstream battery and module prices have risen quickly due to the rush installations, while the performance of silicon materials and wafers continues to decline marginally. Overall gross margin recovery is noted, but the increase in shipment volumes has not significantly reduced overall losses in the sector [1] - In Q2 2025, the output of slurry slightly increased quarter-on-quarter, but performance was heavily impacted by costs. The introduction of low-cost metal slurry production is expected to provide significant revenue and profit growth opportunities for slurry companies. The profitability of junction boxes, frames, and solder strips has been under pressure, while overseas production capacity for frames has shown strong contributions. Glass and film prices and profits have recovered due to domestic rush installations, with strong demand for centralized inverters and energy storage systems [2] Financial Outlook - The financial statements for Q3 2025 are expected to show further recovery, with a focus on the progress of reducing internal competition. Since July, the price of silicon materials has risen significantly, and downstream silicon wafers and battery modules have experienced varying degrees of price adjustments. The overall profit and operating cash flow for the sector are anticipated to improve further in Q3 2025, although the performance of the module segment may face some pressure quarter-on-quarter. Glass and film prices are expected to gradually rise above the production cost line of second-tier leading companies [3] Recommended Companies - Recommended companies include: - Silicon material segment: Tongwei Co., Ltd. (600438.SH) - High-efficiency module leader: JinkoSolar (688233.SH) - New technology BC and slurry: Dike Co., Ltd. (300842.SZ), Juhe Materials (688503.SH) - Racking: CITIC Bo (688408.SH) - Glass: Xinyi Solar (00968), Flat Glass (601865.SH) - Inverters and energy storage: Deye Technology (605117.SH), Jinlang Technology (300763.SZ), Shangneng Electric (300827.SZ), Canadian Solar (688472.SH) [4]

Group 1: Semiconductor Equipment Manufacturers - Companies in the semiconductor equipment sector reported smooth progress in product research and market introduction, indicating a positive outlook for future developments [1] - MicroNano's ALD (Atomic Layer Deposition) equipment has achieved industrial application in high-k materials and metal compound films, with increasing production scale [1] - New Yichang has successfully validated multiple wire bonding and testing packaging equipment, receiving market recognition and bulk orders [1] Group 2: Semiconductor Testing Equipment - YaoMai Technology is advancing in semiconductor testing equipment across three levels: silicon photonic wafer testing, IC carrier board testing, and MEMS sensor testing [2] - The silicon photonic testing equipment has been continuously delivered to overseas wafer fabs, while IC carrier board testing is in the prototype system testing phase [2] - MEMS sensor testing equipment has gained recognition from leading domestic clients, with incremental orders being secured [2] Group 3: Semiconductor Materials Manufacturers - Domestic semiconductor manufacturers are rapidly enhancing competitiveness, breaking the original global industry pattern, with expansion becoming a key focus for semiconductor materials companies [3] - ShenGong Co. plans to steadily expand production capacity for silicon components, which will drive growth in large-diameter silicon materials [3] - The company anticipates that internal demand for silicon components will actively drive growth, rather than relying solely on overseas recovery [3] Group 4: Production Expansion Plans - TianCheng Technology is expanding production capacity to meet increasing orders, planning to increase the capacity of its Jinshan plant from 30,000 tons to 40,000 tons annually [4] - A new plant in Zhuhai with an annual capacity of 30,000 tons is set to begin construction soon, targeting the South China PCB market [4] - A fully-owned subsidiary in Thailand is expected to complete a 30,000-ton plant by 2026, enhancing supply capabilities in Southeast Asia [4] Group 5: Revenue Growth Expectations - Longtu Photoresist's new products from its Zhuhai plant are expected to gradually ramp up production in the second half of the year, leading to significant year-on-year revenue growth [5] - The company aims to leverage capacity release in Zhuhai as a turning point for performance recovery through high-end process breakthroughs and customer structure upgrades [5] - Fangbang Co., as an electronic materials platform enterprise, anticipates positive performance growth with the gradual ramp-up of new products such as peelable copper and flexible copper-clad laminates [5]

Core Insights - The "14th Five-Year Plan" has led to improved overall production and operational conditions for participating companies, with significant advancements in technological innovation and digital transformation [1] - The "15th Five-Year Plan" is viewed as a critical phase for accelerating new industrialization, with companies highlighting the need to address new challenges and enhance core technology capabilities [1][2] Group 1 - The meeting was attended by leaders from major companies such as Sinopec, Ansteel Group, and Xiaomi, who collectively acknowledged the positive outcomes of the "14th Five-Year Plan" [1] - Companies emphasized the importance of strengthening key core technology research, enhancing supply chain resilience, and promoting high-end, intelligent, and green development [1][2] Group 2 - Li Lecheng highlighted the dual nature of opportunities and challenges during the "15th Five-Year Plan," stressing the need for strategic focus and leveraging China's market advantages [2] - The plan aims to maintain a reasonable proportion of manufacturing, enhance value creation through quality, and promote the high-end positioning of Chinese products [2] - There is a call for increased investment in technological innovation and the formation of innovation alliances to tackle national technology challenges [2]

证券代码：688233 证券简称：神工股份 公告编号：2025-032 锦州神工半导体股份有限公司 2025年第一次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 9 月 9 日 （二） 股东大会召开的地点：公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 132 | | --- | --- | | 普通股股东人数 | 132 | | 2、出席会议的股东所持有的表决权数量 | 77,508,445 | | 普通股股东所持有表决权数量 | 77,508,445 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 45.7668 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 45.7668 | 注：上述出席会议的股东所持表决权数量占公司表 ...

北京市中伦律师事务所 关于锦州神工半导体股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：锦州神工半导体股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受锦州神工半导体股份有限 公司（以下简称"公司"）的委托，指派本所律师列席公司 2025 年第一次临时 股东大会（以下简称"本次股东大会"），对本次股东大会的相关事项进行见证 并出具法律意见书。 本法律意见书根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、中国证券监督管理委 员会《上市公司股东会规则》（以下简称"《股东会规则》"）和上海证券交易 所发布的《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》 等现行有效的法律、法规、规范性文件以及《锦州神工半导体股份有限公司章程》 （以下简称"《公司章程》"）、《锦州神工半导体股份有限公司股东大会议事 规则》（以下简称"《股东大会议事规则》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所律师审查了公司本次股东大会的有关文件和材料。 法律意见书 本所律师得到公司如下保证，即其已提供了本所律师认为出具本法律意 ...

Core Points - The company is holding its first extraordinary general meeting of shareholders in 2025 on September 9, 2025, at 14:00 [6] - The meeting will combine on-site and online voting methods, allowing shareholders to exercise their voting rights through specified systems [2][5] - The agenda includes the cancellation of the supervisory board and amendments to the company's articles of association [8][9] Meeting Procedures - Shareholders must register 30 minutes before the meeting and present necessary identification documents [1] - The meeting will follow a structured agenda, including the announcement of the meeting's start, reading of the meeting rules, and voting on proposals [7] - Shareholders wishing to speak must register in advance and adhere to the meeting's agenda during their remarks [3][4] Voting and Participation - Shareholders can express their opinions on voting proposals as "agree," "disagree," or "abstain," and must sign their ballots [4] - The company will utilize a reminder service to ensure that small and medium investors can participate and vote [5] - Legal representatives will witness the meeting and provide legal opinions on the proceedings [5][6] Proposed Resolutions - The first resolution involves the cancellation of the supervisory board, with its powers transferred to the audit committee of the board [8] - The second resolution pertains to the revision and establishment of certain management systems to enhance corporate governance [9][10]

锦州神工半导体股份有限公司 2025年第一次临时股东大会会议资料 锦州神工半导体股份有限公司 2025 年第一次临时股东大会 会议资料 二○二五年九月 锦州神工半导体股份有限公司 2025年第一次临时股东大会会议资料 目录 | 锦州神工半导体股份有限公司 | 2025 年第一次临时股东大会会议须知 | 3 | | --- | --- | --- | | 锦州神工半导体股份有限公司 | 年第一次临时股东大会会议议程 2025 | 6 | | 议案一： | 《关于取消监事会、修订<公司章程>并办理工商变更登记的的议案》 7 | | | 议案二： | 《关于修订制定公司部分管理制度的议案》 9 | | 2 锦州神工半导体股份有限公司 2025年第一次临时股东大会会议资料 锦州神工半导体股份有限公司 2025 年第一次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）《上市公司股东大会规则》以及 《锦州神工半导体股份有限公司章程》（以下简称"《公司章程》" ...

证券代码：688233 证券简称：神工股份 公告编号：2025-031 锦州神工半导体股份有限公司 关于参加 2025 年半年度科创板半导体设备及材料 行业集体业绩说明会的公告 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。 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 03 日(星期三) 至 09 月 09 日(星期二)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 info@thinkon-cn.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。 锦州神工半导体股份有限公司（以下简称"公司"）已于 2025 年 08 月 23 日披露公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划参加由上海证券交易所主办的 2025 年 半年度科创板半导体设备及材料行业集体业绩说明会，就投资 ...

Investment Rating - The report maintains a "Buy" rating for the company [6][14]. Core Views - The company has shown significant growth in revenue and net profit for the first half of 2025, with revenue reaching 209 million yuan, a year-on-year increase of 66.53%, and net profit of 48.84 million yuan, a year-on-year increase of 925.55% [3][4]. - The demand for silicon materials is recovering, and the company is optimizing its sales structure, which has led to an increase in orders due to the semiconductor industry's cyclical recovery and domestic chip manufacturing needs [4][5]. - The company is expanding its production capacity in response to market demands, with its silicon component products entering major domestic manufacturers [5]. Summary by Sections Company Overview - The latest closing price is 37.45 yuan, with a total market capitalization of 6.4 billion yuan and a total share capital of 170 million shares [2]. Financial Performance - In the first half of 2025, the company achieved a revenue of 209 million yuan and a net profit of 48.84 million yuan, with a gross profit margin of 37.59% [3][4]. - For Q2 2025, revenue was 103 million yuan, with a net profit of 20.33 million yuan, reflecting a year-on-year increase of 53.49% and 515.88% respectively [3]. Growth Potential - The company is expected to achieve revenues of 471 million yuan, 709 million yuan, and 1.005 billion yuan in 2025, 2026, and 2027 respectively, with net profits projected at 108 million yuan, 203 million yuan, and 324 million yuan [6][10]. - The silicon component market in China is projected to grow significantly, with the company positioned to benefit from this trend [5]. Market Position - The company is deepening its integration with the domestic semiconductor supply chain while maintaining its roots in the international market [4].