Group 1 - The storage chip sector rose by 4.62%, ranking fourth among concept sectors, with 91 stocks increasing in value, including Yachuang Electronics which hit a 20% limit up [1] - Major gainers in the storage chip sector included Huahong Company, Lierda, and Hualing Co., which rose by 19.75%, 14.36%, and 11.40% respectively [1] - The sector saw a net inflow of 4.219 billion yuan from main funds, with 73 stocks receiving net inflows, and 12 stocks exceeding 100 million yuan in net inflow [2] Group 2 - The top stocks by net inflow included Shanghai Beiling with 499.35 million yuan, followed by Huahong Company and Tongfu Microelectronics with 481 million yuan and 464 million yuan respectively [2][3] - The net inflow ratio was highest for Yingfang Microelectronics at 59.12%, followed by Dagang Co. at 56.30% and Haoshanghao at 31.89% [3][4] - The storage chip sector's performance was contrasted by declines in other sectors, such as genetically modified and grain concepts, which fell by 5.96% and 4.68% respectively [2]

Core Viewpoint - The semiconductor sector experienced a significant rally in the afternoon, with nearly 20 stocks hitting the daily limit up, indicating strong investor interest and positive market sentiment towards the industry [1] Group 1: Stock Performance - Companies such as Weijie Chuangxin, Jinghua Micro, SIRUI, Meixin Sheng, Naxin Micro, Fuman Micro, Jiewate, Huahong Company, Shanghai Beiling, Tongfu Microelectronics, and Yingfang Micro all reached the daily limit up [1] - Other stocks like Jingfeng Mingyuan, Guomin Technology, Aiwei Electronics, and Anlu Technology saw increases of over 10% [1]

Group 1 - A-shares opened lower on April 11, with the chip sector seeing multiple stocks rise against the market trend, including a significant increase in the Kexin Chip ETF (588200) which rose over 3% with a trading volume exceeding 1.9 billion yuan and a turnover rate over 8% [1] - The Kexin Chip ETF (588200) tracks the Kexin Chip Index, which selects securities involved in semiconductor materials, equipment, chip design, manufacturing, packaging, and testing from companies listed on the Sci-Tech Innovation Board [1] - The Kexin Chip ETF (588200) received a net inflow of over 300 million yuan yesterday, ranking first among similar ETF products [1] Group 2 - China Mobile has launched the country's first "four-in-one" computing power network scheduling platform, integrating general, intelligent, super, and quantum computing capabilities, which can support over 100 million computing power calls daily and manage one-sixth of the national computing power scale [2] - The platform's self-owned intelligent computing center has a domestic chip localization rate exceeding 90% and is compatible with eight types of domestic AI chips, which is significant for supply chain security and promoting high-quality development of the national digital economy [2] - Guosen Securities suggests that the recent U.S. announcement of "reciprocal tariffs" may accelerate the domestic semiconductor localization process, particularly in the analog chip sector, which has seen increased R&D investment from domestic companies [2] Group 3 - Open Source Securities indicates that the Ministry of Commerce will initiate investigations based on domestic industry demands, potentially disrupting U.S. companies' "low-price for market share" strategy and accelerating the shift of domestic demand towards local products [3] - The domestic analog chip market is currently dominated by international firms, but the localization process is expected to speed up as China begins anti-dumping investigations on mature process chips [3] - The overall profitability of analog chip companies has been low in the past two years, but improvements are anticipated in 2025 with new product releases and margin recovery starting in 2024 [2][3]

Core Viewpoint - The A-share market's Shanghai state-owned enterprise reform sector experienced a short-term surge, with several companies reaching their daily limit up [1] Group 1: Company Performance - Changjiang Investment and Shanghai Material Trade both hit the daily limit up [1] - Dongfang Chuangye previously reached its limit up [1] - Huahong Company saw an increase of over 10% [1] - Lansheng Co., Shanghai Phoenix, Jiaoyun Co., Jinjiang Online, and Huajian Group also experienced gains [1]

恒生科技指数收盘涨2.64%。半导体股大涨，中芯国际涨约10%，华虹半导体涨约8%。地产股上涨，融 创中国涨约13%。部分科技股上涨，小米集团涨约8%。南向资金净买额约356亿元，创历史新高。 ...

Financial Performance - In 2024, the company's operating revenue decreased by 11.36% compared to the same period last year[3]. - The net profit attributable to the parent company decreased by 80.34% year-on-year[3]. - The basic earnings per share dropped to $0.22 in 2024, down 83.21% from the previous year[24]. - The net profit attributable to shareholders for the current period is approximately ¥380.58 million, a significant decrease from ¥1.94 billion in the previous period, primarily due to a decline in average sales prices in wafer foundry and an increase in R&D expenses[27]. - The company reported a net profit of ¥380,576,197.36 for the most recent fiscal year[164]. - The company achieved operating revenue of RMB 14.388 billion, a decrease of 11.36% compared to the same period last year[82]. - Cash generated from operating activities was RMB 3.608 billion, a decline of 29.32% compared to the previous year[82]. - The net cash flow from operating activities decreased by 29.32% to ¥3.61 billion, down from ¥5.10 billion year-on-year[84]. - The company has seen strong demand for its power management chips due to a recovery in the mobile phone and consumer electronics markets, as well as increased AI penetration[39]. Governance and Compliance - The company is classified as a red-chip enterprise, indicating specific governance arrangements[6]. - The company has established a comprehensive governance system to protect investor rights, ensuring compliance with applicable laws and regulations[126]. - The company has received commitments from its controlling shareholders to avoid competition, ensuring operational independence[127]. - The company has established a comprehensive corporate governance system in accordance with applicable laws and regulations, ensuring that shareholder rights, including asset returns and participation in major decisions, meet or exceed domestic legal requirements[128]. - The company disclosed executive compensation in its annual report, in compliance with the China Securities Regulatory Commission's regulations, ensuring the completeness of information disclosure[129]. - The company has maintained stable shareholding among its board members, with no changes in shareholdings reported for the chairman and other directors during the reporting period[131]. - The company is governed by the special provisions for red-chip enterprises as per the STAR Market Listing Rules, ensuring compliance with relevant legal frameworks[130]. Research and Development - The company has accumulated 4,644 authorized patents by the end of 2024, reflecting its commitment to innovation and core competitiveness[15]. - R&D investment accounted for 11.42% of the operating revenue in 2024, an increase of 2.31 percentage points compared to the previous year[24]. - The total R&D investment for the year reached approximately ¥1.64 billion, an increase of 11.13% from the previous year, with R&D expenses accounting for 11.42% of operating revenue, up from 9.11%[62]. - The company has filed 665 domestic invention patents and 20 international patents this year, with a total of 9,649 patents filed cumulatively[60]. - The company has established a comprehensive research and development system to drive innovation across various process platforms[46]. - The company is focusing on differentiated technology development, particularly in embedded non-volatile memory, power devices, and analog power management, to enhance its competitive edge[37]. Market and Industry Outlook - The global semiconductor market is projected to reach approximately $632.3 billion in 2024, reflecting a year-on-year growth of 20.3%[37]. - The company expects a steady increase in revenue starting from 2025 due to the new manufacturing project and ongoing demand recovery in various sectors[15]. - The global semiconductor market is projected to recover moderately in 2025, with an expected sales growth of 22.4% to approximately $622 billion in 2024[51]. - The semiconductor foundry industry is experiencing rapid development driven by new demands in applications such as automotive electronics, industrial manufacturing, and IoT, leading to increased opportunities for wafer manufacturing technology breakthroughs[55]. Environmental and Social Responsibility - The company is committed to sustainable development and actively responds to national carbon neutrality strategies[173]. - The company has achieved Platinum Award certification from the Responsible Business Alliance, emphasizing employee rights and environmental responsibility[173]. - The company has implemented a comprehensive environmental management system, achieving ISO 14001 certification for all production bases[195]. - The company has established a robust environmental risk management system to address climate-related risks and opportunities[196]. - The company has implemented self-monitoring plans in accordance with environmental impact assessments and discharge permits, with all emission indicators meeting standards[183]. Strategic Initiatives - The company plans to deepen strategic collaboration with customers and partners to enhance supply chain localization in the Chinese market[15]. - The company aims to optimize its advanced "specialty IC + power device" product mix to increase the proportion of high-value products[15]. - The company is actively building an ecosystem to support national strategies, focusing on collaboration with terminal application enterprises and chip design customers[42]. - The company is expanding its 12-inch production and technology platform, enhancing its advanced "specialty IC + power discrete" product offerings[58]. - The company is implementing a "China for China" strategy to enhance domestic industrial ecosystems and support new business and product platform development[53]. Operational Efficiency - The company is enhancing its operational efficiency and cost control measures to improve profitability amidst challenges in supply-demand balance in the power device sector[41]. - The company plans to gradually release more capacity from the Huahong manufacturing project, which is expected to enter ramp-up phase in 2025, with a monthly capacity of 83,000 wafers[42]. - The company aims to enhance its operational efficiency and product offerings by 2025, focusing on key technology platforms and flexible capacity allocation[122]. - The company has set a goal to reduce operational costs by 5% through efficiency improvements in manufacturing processes[134]. Human Resources - The total number of employees in the parent company and major subsidiaries is 7,487, with 5,505 in production, 113 in sales, and 1,427 in R&D[157]. - Employee training coverage reached 100% in 2024, with an average of 137.3 training hours per employee[159]. - The company has a competitive compensation policy based on performance, position, and skills, along with various benefits for employees[158]. - The company emphasizes the importance of talent retention and recruitment in the semiconductor industry to maintain its technological edge[71]. Risks and Challenges - The company faces significant risks including industry cyclicality, intense competition, and potential delays in customer product acceptance[7]. - The semiconductor industry faces risks from demand fluctuations in consumer electronics, industrial, and new energy sectors, which could impact revenue[73]. - Supply chain risks are present due to reliance on specific raw materials and limited qualified suppliers, potentially affecting product delivery[74]. - The company is exposed to performance volatility risks due to economic slowdown and geopolitical factors affecting market demand[74]. - The company is facing risks related to not keeping pace with technological iterations in the semiconductor industry, which could impact its competitive position[70].

A股代码：688347A股简称：华虹公司公告编号：2025-011 港股代码：01347 港股简称：华虹半导体 华虹半导体有限公司 关于续聘会计师事务所的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 拟聘任的会计师事务所名称：安永华明会计师事务所（特殊普通合伙）（以下简称"安永华明"）为华 虹半导体有限公司（以下简称"公司"）中国企业会计准则财务报告审计师，安永会计师事务所（以下简 称"安永香港"）为公司香港财务报告准则财务报告核数师。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、安永华明 （1）基本信息 安永华明于1992年9月成立，2012年8月完成本土化转制，从一家中外合作的有限责任制事务所转制为特 殊普通合伙制事务所。安永华明总部设在北京，注册地址为北京市东城区东长安街1号东方广场安永大 楼17层01-12室。 截至2024年末拥有合伙人251人，首席合伙人为毛鞍宁先生。安永华明一直以来注重人才培养，截至 2024年末拥有执业注册会计师逾1700人，其中拥有证券相关业务服务经验 ...

HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 (Incorporated in Hong Kong with limited liability) (Stock Code: 01347) （股份代號：01347） （於香港註冊成立之有限公司） CONTENTS | Definitions | 2 | | --- | --- | | Key Financials | 6 | | Letter to Shareholders | 7 | | Corporate Information | 9 | | Directors and Senior Management Team | 12 | | Corporate Governance Report | 22 | | Directors' Report | 34 | | 2024 Environmental, Social and Governance Report | 66 | | Independent Auditor's Report | 293 | | Consolidated Statement of Profit or ...

| A 股代码：688347 | A 股简称：华虹公司 | 公告编号：2025-011 | | --- | --- | --- | | 港股代码：01347 | 港股简称：华虹半导体 | | 华虹半导体有限公司 关于续聘会计师事务所的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 拟聘任的会计师事务所名称：安永华明会计师事务所（特殊普通合伙）（以 下简称"安永华明"）为华虹半导体有限公司（以下简称"公司"）中国企 业会计准则财务报告审计师，安永会计师事务所（以下简称"安永香港"） 为公司香港财务报告准则财务报告核数师。 一、 拟聘任会计师事务所的基本情况 （一）机构信息 1、安永华明 （1）基本信息 安永华明于 1992 年 9 月成立，2012 年 8 月完成本土化转制，从一家中外合 作的有限责任制事务所转制为特殊普通合伙制事务所。安永华明总部设在北京， 注册地址为北京市东城区东长安街 1 号东方广场安永大楼 17 层 01-12 室。 截至 2024 年末拥有合伙人 251 人，首席合伙人为毛鞍宁 ...

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