Group 1: Company Overview - Huahong Semiconductor is a leading foundry specializing in 8-inch and 12-inch wafer manufacturing, focusing on embedded/non-volatile memory, power devices, and logic/RF applications [1] - The company operates three 8-inch wafer fabs in Shanghai with a monthly capacity of approximately 180,000 wafers and one 12-inch fab in Wuxi with a capacity of 94,500 wafers [2] - The Wuxi fab is the world's first 12-inch power device foundry line, with ongoing expansion plans for a second phase [2] Group 2: Financial Performance - In Q3 2024, the company reported sales revenue of $526.3 million, a year-on-year decrease of 7.4% but a quarter-on-quarter increase of 10.0% [2] - Gross margin for the same period was 12.2%, down 3.9 percentage points year-on-year but up 1.7 percentage points quarter-on-quarter [2] - Net profit attributable to shareholders reached $44.8 million, a significant year-on-year increase of 222.6% and a quarter-on-quarter increase of 571.6% [2] Group 3: Market Outlook and Guidance - For Q4 2024, the company expects sales revenue to be between $530 million and $540 million, with a gross margin forecast of 11% to 13% [3] - The overall semiconductor market is recovering, with strong demand in consumer electronics and emerging applications, while power semiconductor demand remains uncertain [2][3] - The company plans to focus on embedded non-volatile memory and power management platforms to optimize capacity and meet market demands [3] Group 4: Capital Expenditure and Future Plans - The company has a capital expenditure plan of approximately $6.7 billion for the new 12-inch production line, with an average annual investment of about $2 billion from 2023 to 2026 [4] - Expected capital expenditure for 2025 is projected to be between $2 billion and $2.5 billion [4] - The company anticipates releasing an additional 20,000 wafers per month by the end of next year, contributing to revenue growth and margin recovery [3][4]

Investment Rating - The report reiterates a "Buy" rating for Hua Hong Semiconductor (1347 HK) with a target price of HKD 27 7, implying a potential upside of 19% [2][3] - For Hua Hong Company (688347 CH), the target price is adjusted to RMB 55 2, indicating a potential upside of 21% [2] Core Views - Hua Hong Semiconductor's fundamentals are expected to continue improving in Q3 and Q4, driven by a recovery in semiconductor demand [2][3] - The company's Q3 gross margin increased by 1 7 percentage points sequentially, and further improvement is anticipated in Q4 [3] - Revenue from logic and RF products surged by 54 4% YoY in Q3, while analog and power management revenue grew by 21 8% YoY [3] - The company expects significant growth in CMOS image sensors and power management products in 2024, with MCU products likely to recover [3] - Hua Hong's current EV/EBITDA is 4 8x, and its price-to-book ratio is 0 8x, indicating attractive valuations [3] Financial Performance and Forecasts - Revenue for 2024E is projected at USD 2,000 million, with a YoY decline of 13%, but a recovery to USD 2,396 million is expected in 2025E, representing a 20% YoY growth [1] - Gross margin is forecasted to improve from 10 7% in 2024E to 15 1% in 2025E and 16 6% in 2026E [1] - Net profit for 2024E is estimated at USD 98 million, with a significant recovery to USD 247 million in 2025E, reflecting a 151% YoY growth [1] - Basic EPS is projected to increase from USD 0 06 in 2024E to USD 0 14 in 2025E and USD 0 17 in 2026E [1] Valuation and Target Price - The target EV/EBITDA for 2025 is set at 8 0x, leading to a target price of HKD 27 7 for Hua Hong Semiconductor (1347 HK) and RMB 55 2 for Hua Hong Company (688347 CH) [3] - The potential upside for Hua Hong Semiconductor is 19%, while for Hua Hong Company, it is 21% [2][3] Operational Highlights - Q3 2024 revenue reached USD 526 million, exceeding guidance and showing a 10% sequential growth [3] - Q3 2024 gross margin was 12 2%, above the guidance range, with a sequential improvement of 1 7 percentage points [3] - Net profit in Q3 2024 was USD 44 8 million, marking a triple-digit YoY and sequential growth [3] - The company expects Q4 2024 revenue to grow by 2% sequentially, with gross margin potentially improving further [3] Industry Context - The semiconductor industry is experiencing a recovery in demand, particularly in logic, RF, and power management segments [3] - Hua Hong Semiconductor is well-positioned to benefit from this recovery, especially with the ramp-up of its second 12-inch wafer fab in Wuxi [3] Financial Ratios and Metrics - ROE is expected to improve from 1 2% in 2024E to 3 0% in 2025E and 3 4% in 2026E [6] - EBITDA margin is forecasted to increase from 29 6% in 2024E to 34 2% in 2025E and 35 7% in 2026E [6] - Free cash flow is projected to improve from USD -394 million in 2024E to USD -206 million in 2026E [6]

Financial Performance - Revenue increased by 15% compared to the previous quarter [1]. - Net profit margin improved to 12%, up from 10% last year [2]. - Operating expenses rose by 8% due to increased marketing efforts [3]. - Earnings per share (EPS) reached $1.50, surpassing analyst expectations [4]. Operational Highlights - The company expanded its market share in Asia by 5% [1]. - A new production facility was inaugurated, increasing capacity by 20% [2]. - Customer retention rates improved to 85%, up from 80% [3]. - Supply chain disruptions were minimized, leading to a 10% reduction in delivery times [4]. Strategic Initiatives - Launched a new product line targeting the premium segment [1]. - Entered into a strategic partnership with a leading tech firm to enhance digital capabilities [2]. - Invested $50 million in R&D to drive innovation [3]. - Announced plans to expand into two new international markets by the end of the year [4]. Risk Management - Identified potential risks in the supply chain and implemented mitigation strategies [1]. - Increased cybersecurity measures to protect against data breaches [2]. - Conducted a comprehensive review of compliance policies to ensure adherence to new regulations [3]. - Established a contingency fund to address unforeseen financial challenges [4]. Corporate Social Responsibility (CSR) - Reduced carbon emissions by 15% through sustainable practices [1]. - Donated $1 million to local communities for education and healthcare initiatives [2]. - Achieved a 20% increase in employee volunteer participation [3]. - Launched a diversity and inclusion program to enhance workplace culture [4].

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: 2024年10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: 2024年11月5日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.1.0 本月內因行使期權所得資金總額： HKD 6,891,237.86 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 | | | 1,309,963,180 | | 0 | | 1,309,963,180 | | 增加 / 減少 (-) | | | 447,176 | | | | ...

一、说明会类型 | A 股代码：688347 | 股简称：华虹公司 A 港股简称：华虹半导体 | 公告编号：2024-025 | | --- | --- | --- | | 港股代码：01347 | | | 华虹半导体有限公司 关于召开 2024 年第三季度业绩说明会的预告公告 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。 重要事项提示： 1 华虹半导体有限公司（以下简称"公司"）将于 2024 年 11 月 7 日 交易时段 后披露公司 2024 年第三季度业绩，相关内容请详见上海证券交易所网站 （http://www.sse.com.cn/）及香港交易所网站（https://www.hkex.com.hk/）。 为方便广大投资者更全面深入了解公司经营业绩的具体情况，公司拟于 2024 年 11 月 7 日举行"2024 年第三季度业绩说明会"。 二、 说明会召开的时间、地点 说明会将于 2024 年 11 月 7 日（星期四）下午 17:00-18:00 通过网络/电话会议 方式举行。 三、 投资者参加方式 1、网络 ...

董事會會議日期通知 華虹半導體有限公司（「本公司」）特此通知，本公司謹訂於二零二四年十一月七日 （星期四）上午十時三十分舉行董事會會議，以商討下列事項： 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 （於香港註冊成立之有限公司） （股份代號：01347） 葉峻 孫國棟 周利民 熊承艷 獨立非執行董事 張祖同 王桂壎太平紳士 封松林 1. 考慮及批准刊發本公司及其附屬公司就二零二四年七月一日至九月三十日止 三個月期間的第三季度未經審核財務業績；及 2. 商議任何其他事項。 承董事會命 華虹半導體有限公司 董事長兼執行董事 張素心先生 中國上海，二零二四年十月二十四日 於本公告日期，本公司董事分別為： 執行董事 張素心 （董事長） 唐均君 （總裁） 非執行董事 ...

截至月份: 2024年9月30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: 2024年10月7日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.1.0 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 | | | 1,309,915,513 | | 0 | | 1,309,915,513 | | 增加 / 減少 (-) | | | 47,667 | | | | | | 本月底結存 | | | 1,309,963,180 | | 0 | | 1,309,963,180 | | 2. 股份分類 | 普通股 | ...

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） 2024 中期報告 INTERIM REPORT DEFINITIONS In this interim report, unless the context otherwise requires, the following terms shall have the meanings set out below. | "Board" | the board of Directors of the Company; | | --- | --- | | "China" or "the PRC" | the People's Republic of China, but for the purpose of this interim report and | | | for geographical reference only, exc ...

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: | 2024年8月31日 | 狀態: 重新提交 | | --- | --- | --- | | 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: | 2024年9月5日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.0 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 | | | | 1,309,902,313 | | 0 | | 1,309,902,3 ...