股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年12月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 華虹半導體有限公司（於香港註冊成立的有限公司） | | | 呈交日期: | 2026年1月7日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01347 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,328,249,496 | | 0 | | 1,328,249,4 ...

本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 【1月7日交银国际报告：华虹半导体82.68亿收购华力微近98%股权】1月7日，交银国际发布报告透 露，华虹半导体以82.68亿元的交易价格，收购华力微97.4988%股权。该行认为，从财务角度看，华力 微聚焦产线或已基本完成设备折旧，整合后总体盈利水平或强于华虹半导体现有产线平均盈利能力。此 次整合是公司兑现2023年A股上市时的市场承诺，交易后实际控股关系不变，顺应内地集成电路产业专 业化整合趋势。整合完成后，公司在全球晶圆代工市场的份额有望进一步提升，特色工艺领域供给能力 或增强。同时，募资或助力公司推进产线升级、进一步拓产，提高研发能力。交银国际维持对华虹半导 体"买入"评级，H股目标价91港元。 ...

交银国际发表报告指，华虹半导体以82.68亿元交易价格收购华力微97.4988%股权。该行认为，从财务 角度看，华力微聚焦产线或已经基本完成设备折旧，整合后或推动总体盈利水平强于华虹半导体现有产 线的平均盈利能力。该行指，整合华力微是公司兑现2023年A股上市时的市场承诺。本次交易后，华力 微和华虹半导体的实际控股关系不改，且顺应内地集成电路产业专业化整合的发展趋势。此外，整合完 成后，公司在全球晶圆代工市场的份额有望进一步提升，在特色工艺领域的供给能力或增强。同时募资 或帮助公司推进产线升级和进一步拓产，提高研发能力。该行维持对华虹半导体"买入"评级，H股目标 价91港元。 本文源自：金融界AI电报 ...

交银国际发表报告指，华虹半导体以82.68亿元交易价格收购华力微97.4988%股权。该行认为，从财务 角度看，华力微聚焦产线或已经基本完成设备折旧，整合后或推动总体盈利水平强于华虹半导体现有产 线的平均盈利能力。该行指，整合华力微是公司兑现2023年A股上市时的市场承诺。本次交易后，华力 微和华虹半导体的实际控股关系不改，且顺应内地集成电路产业专业化整合的发展趋势。此外，整合完 成后，公司在全球晶圆代工市场的份额有望进一步提升，在特色工艺领域的供给能力或增强。同时募资 或帮助公司推进产线升级和进一步拓产，提高研发能力。该行维持对华虹半导体"买入"评级，H股目标 价91港元。 ...

Core Viewpoint - Huahong Semiconductor (01347) announced plans to acquire 97.4988% of Huali Micro for 8.268 billion yuan, aiming to resolve industry competition in 65/55nm and 40nm processes, which will significantly enhance its production capacity and financial performance [1] Financial Impact - The acquisition is expected to increase Huahong's net profit from 380 million yuan to 960 million yuan, representing a 151% growth, and boost earnings per share (EPS) from 0.22 yuan to 0.50 yuan, a 127% increase [1] - The company plans to raise up to 7.556 billion yuan in supporting funds, which will enhance liquidity and support production line upgrades [1] Capacity Expansion - Post-acquisition, Huahong will add 38,000 wafers per month in 65/55nm and 40nm capacity, further increasing its 12-inch wafer foundry capacity [1]

Group 1 - The core viewpoint of the news is the performance and market position of Huahong Semiconductor, which saw a stock price increase of 5.1% to 125.98 CNY per share, with a total market capitalization of 218.7 billion CNY [1] - Huahong Semiconductor specializes in wafer foundry services with a focus on specialty processes, including embedded/non-volatile memory, power devices, analog and power management, and logic/RF [1] - The company's revenue composition is primarily from integrated circuit wafer foundry services (94.60%), with minor contributions from other services (4.78%) and rental income (0.62%) [1] Group 2 - Huabao Fund has a significant holding in Huahong Semiconductor, with its fund "Huabao Shanghai Stock Exchange Sci-Tech Innovation Board Chip Index Initiation A" (021224) holding 187,500 shares, representing 2.49% of the fund's net value [2] - The fund has achieved a year-to-date return of 6.08% and a one-year return of 81.35%, ranking 440 out of 5488 and 221 out of 4192 respectively in its category [2] - The fund manager, Chen Jianhua, has a tenure of over 13 years, with the fund's total asset size at 27.702 billion CNY and a best return of 175.25% during his management [3]

Group 1 - The semiconductor industry chain is experiencing significant growth, with major stocks like North Huachuang, Zhongwei Company, and Tuojing Technology reaching historical highs, and the total market value of these stocks exceeding 100 billion yuan [1][4] - The price of storage chips is rising, with reports indicating that a single 256G DDR5 server memory stick from Hynix and Samsung can exceed 40,000 yuan, with some reaching as high as 49,999 yuan [5] - Huang Renxun's speech at CES 2026 emphasized the long-term demand for storage chips, indicating a shift in AI processing bottlenecks towards context storage, which is expected to drive significant growth in the storage chip market [14] Group 2 - Recent major asset restructuring announcements from companies like SMIC, Zhongwei Company, and Huahong Company have boosted market sentiment [15] - The upcoming IPO of Changxin Technology, which aims to raise 29.5 billion yuan for various technology upgrade projects, is expected to further enhance the domestic storage sector [15]

Core Insights - The Chinese integrated circuit industry has evolved from a technology exploration phase to a stage of partial leadership in emerging fields such as third-generation semiconductors and AI chips [1] Group 1: Industry Overview - Major listed companies in the Chinese integrated circuit industry include companies like Chipone (688521.SH), Cambricon (688256.SH), and SMIC (688981.SH/00981.HK) [1] - The development of integrated circuit technology in China has gone through three main phases: foundational exploration (1950s-1978), technology introduction (1978-2000), and independent breakthroughs (2000-2020) [1] Group 2: Core Production Technologies - The integrated circuit technology system focuses on three core areas: design, manufacturing, and packaging/testing [4] - Key design aspects include EDA tools, chip architecture (RISC-V/ARM), and semiconductor IP [4] - Manufacturing focuses on wafer processes (including EUV lithography) and advanced process nodes (such as 7nm and 5nm) [4] - Packaging/testing emphasizes advanced techniques like Chiplet and 3D stacking [4] Group 3: Current Production Status - Chinese companies lead in production volume but lack sufficient autonomy in technology [7] - The design sector has achieved some autonomy in mature process tools and IP, but high-end EDA and core IP still rely on imports [7] - Manufacturing has sufficient capacity for mature processes but faces limitations in advanced processes due to equipment restrictions [7] - The packaging/testing sector is a strength, with leading companies holding significant global market shares [7] Group 4: Market Segmentation - The low-end market (45nm and above) has a self-sufficiency rate exceeding 75%, with companies like Hua Hong Semiconductor leading [10] - The mid-range market (14-28nm) has a domestic production rate of about 35%, with breakthroughs in memory chips [10] - The high-end market (7nm and below) has a self-sufficiency rate of less than 20%, heavily relying on overseas foundries [10] Group 5: Challenges and Future Outlook - The Chinese integrated circuit industry faces challenges such as low domestic production of high-end technologies, risks to industrial security, and the need for improved product quality [13] - Future strategies include focusing on technological breakthroughs, collaborative ecosystem development, and enhancing talent cultivation to support high-quality industry growth [13]

Core Viewpoint - The semiconductor industry chain is experiencing significant growth, driven by rising prices of storage chips and positive market sentiment from recent corporate developments [7][8][9]. Semiconductor Industry - The semiconductor sector showed strong performance, with leading companies like North Huachuang, Zhongwei Company, and Tuojing Technology reaching historical highs in stock prices, collectively exceeding a market capitalization of 100 billion yuan [3][5]. - North Huachuang's stock price increased by over 6%, closing at 516.66 yuan, with a market capitalization of 374.3 billion yuan [3][4]. - The demand for storage chips is expected to outpace supply, with projections indicating a 15% to 20% increase in DRAM supply and a 20% to 25% increase in demand for 2026 [8]. - Recent asset restructuring announcements from companies like SMIC and Huahong have boosted market sentiment [8]. OLED Industry - The OLED sector also saw a rise, with companies like Gaomeng New Materials and Nanda Optoelectronics experiencing significant stock price increases [11][13]. - The price increase in OLED panels is attributed to production adjustments by major LCD panel manufacturers ahead of the Lunar New Year, leading to a tighter supply-demand balance [13]. - Long-term growth in the OLED market is anticipated due to factors such as the replacement cycle of IT products and upcoming major sporting events driving TV demand [13].

Market Overview - The Shanghai Composite Index rose by 0.29%, approaching 4100 points, while the Shenzhen Component increased by 0.35%, and the ChiNext Index gained 0.41% [3] - The total trading volume in the Shanghai and Shenzhen markets reached 1.84 trillion yuan, an increase of 538 billion yuan compared to the previous trading day, with over 2700 stocks declining [3] Sector Performance - The coal sector showed strength, with major stocks like Antai Group hitting the daily limit, and other companies such as Baotailong and Shanxi Coking rising alongside [5] - The futures contract for coking coal hit the daily limit with a rise of 7.98%, priced at 1164 yuan per ton [6] - The semiconductor industry chain performed strongly, with significant gains in sectors like photolithography and storage chips [7] - The photolithography sector saw a rise of 6.66%, with stocks like Yake Technology hitting the daily limit [4] - The rare earth permanent magnet sector also experienced a rise of 3.37%, with companies like Zhongcai Rare Earth and Jiuling Technology seeing gains [9] Individual Stock Highlights - Shangfeng Cement opened over 3% higher after announcing a plan to invest 90 million yuan to establish a semiconductor industry fund [16] - Times New Material opened 3.38% higher following the signing of a 3.32 billion yuan wind turbine blade sales contract [18] - The stock of Puhua Technology surged over 10% as it reached a new historical high [12] International Market Influence - The Hang Seng Index opened down 0.41%, with notable declines in stocks like Alibaba and NIO, while companies like Huahong Semiconductor and SMIC showed strength [19] - The central bank conducted a reverse repurchase operation of 28.6 billion yuan at an interest rate of 1.40% [18]