| A 股证券代码：688385 | 证券简称：复旦微电 | 公告编号：2024-061 | | --- | --- | --- | | 港股证券代码：01385 | 证券简称：上海复旦 | | 上海复旦微电子集团股份有限公司 关于召开 2024 年第三季度业绩说明会公告 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： 上海复旦微电子集团股份有限公司（以下简称"公司"、"复旦微电"）于 2024 年 10 月 31 日披露公司 2024 年第三季度报告。为便于广大投资者更全面 深入地了解公司报告期内的经营成果、财务状况，公司计划于 2024 年 11 月 7 日下午 16:00-17:00 举行 2024 年第三季度业绩说明会，就投资者关心的问题进 行交流。 一、说明会类型 本次投资者说明会以网络文字互动方式召开，公司将针对 2024 年第三季度 经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允 许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 会议召开时间：202 ...

Financial Performance - The company's revenue for Q3 2024 was approximately 889.55 million RMB, a decrease of 5.55% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2024 was approximately 79.15 million RMB, down 60.60% year-on-year[4]. - The cumulative revenue from January to September 2024 was approximately 2.684 billion RMB, a decrease of 1.99% compared to the same period last year[3]. - The cumulative net profit attributable to shareholders from January to September 2024 was approximately 427.24 million RMB, a decrease of 34.29% year-on-year[3]. - The gross profit margin for the product lines decreased from 64.58% to 55.05% year-on-year[4]. - The net profit attributable to shareholders decreased by 60.60% in the current reporting period[8]. - The net profit attributable to shareholders for the year-to-date period decreased by 34.29% due to intense market competition and declining product sales prices[8]. - The basic earnings per share for the current period dropped by 60.00%[8]. - The diluted earnings per share for the current period decreased by 58.33%[8]. - The company's net profit for the first three quarters was impacted by increased financial expenses, which rose to CNY 30,912,304.13 from CNY 5,339,727.34[20]. - The net profit for Q3 2024 was CNY 410,937,493.42, a decrease of 38% compared to CNY 663,928,750.13 in Q3 2023[22]. - The total comprehensive income for Q3 2024 was CNY 410,707,235.92, down from CNY 665,640,026.72 in the same period last year[23]. - Basic earnings per share for Q3 2024 were CNY 0.52, compared to CNY 0.80 in Q3 2023, reflecting a decline of 35%[23]. Research and Development - R&D expenses for Q3 2024 totaled approximately 301.68 million RMB, accounting for 33.91% of revenue, an increase of 3.12 percentage points year-on-year[3]. - The company is facing challenges due to increased R&D expenses and a decline in comprehensive gross profit margin[8]. - Research and development expenses reached CNY 803,837,831.02, an increase of 6.1% compared to CNY 757,831,871.78 in the prior year[20]. Assets and Liabilities - The company's total assets as of the end of Q3 2024 were approximately 88.42 billion RMB, an increase of 5.12% from the end of the previous year[3]. - Total assets amounted to CNY 8,841,772,247.60, an increase from CNY 8,411,350,886.39, representing a growth of 5.1%[19]. - Total liabilities increased to CNY 2,500,835,885.21 from CNY 2,449,649,077.25, marking a rise of 2.1%[19]. Cash Flow and Investments - Cash and cash equivalents decreased to CNY 723,801,076.42 from CNY 1,003,337,496.96, a decline of 27.8%[17]. - Accounts receivable rose significantly to CNY 1,489,881,836.30, up 60.2% from CNY 929,619,309.54[17]. - Inventory increased slightly to CNY 3,219,853,349.45, compared to CNY 3,177,370,636.58, reflecting a growth of 1.3%[17]. - The company reported a decrease in cash flow from operating activities, indicating potential liquidity challenges moving forward[20]. - Cash flow from operating activities for the first three quarters of 2024 was CNY 115,359,903.56, a significant improvement from a negative cash flow of CNY -1,102,588,369.69 in the same period last year[25]. - Cash inflow from investment activities in Q3 2024 was CNY 765,352,925.37, compared to CNY 626,636,738.23 in Q3 2023, indicating a 22% increase[25]. - The company reported a net cash outflow from investment activities of CNY -506,311,590.08 for Q3 2024, worsening from CNY -378,716,377.86 in Q3 2023[25]. - Total cash and cash equivalents at the end of Q3 2024 were CNY 703,756,076.42, down from CNY 727,223,855.98 at the end of Q3 2023[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,083[9]. - The largest shareholder, Hong Kong Central Clearing Limited, holds 284,196,830 shares, accounting for 34.70% of total shares[9]. - The second largest shareholder, Shanghai Fudan Microelectronics Group Co., Ltd., holds 109,620,000 shares, representing 13.38%[9]. Market Competition - The company faced intense competition in the market, leading to adjustments in product pricing and a decline in overall gross margin[5]. - The company has reported a 59.77% decrease in net profit after deducting non-recurring gains and losses for the current period[8].

| A 股证券代码：688385 | 证券简称：复旦微电 | 公告编号：2024-062 | | --- | --- | --- | | 港股证券代码：01385 | 证券简称：上海复旦 | | 上海复旦微电子集团股份有限公司 关于投资产业基金暨关联交易的进展公告 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。 一、投资基金概述： 上海复旦微电子集团股份有限公司（以下简称"公司"、"复旦微电"）第八 届董事会第二十五次会议及第八届监事会第九次会议审议通过了《关于对外投 资产业投资基金暨关联交易的议案》，公司作为上海皓骏创业投资合伙企业（有 限合伙）（以下简称"皓骏创投"或"基金"）的有限合伙人认缴出资人民币 2,500.00 万元，在合伙企业中占比不超过 25.00%（含），详见公司于 2021 年 8 月 30 日在指定媒体及上海证券交易所网站（www.sse.com.cn）披露的《关于对 外投资产业基金暨关联交易的公告》（公告编号：2021-011）。2022 年 1 月 19 日，公司披露了《关于参与投资的产业基金完 ...

董事会对 2024 年第三季度报告的编制和审核程序符合法律、行政法规、其 它有关规范性文件和境内外证券监管机构的规定，报告的内容能够及时、真实、 准确、完整地反映公司的实际情况。 表决结果：同意 12 票，反对 0 票，弃权 0 票。 特此公告。 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。 上海复旦微电子集团股份有限公司(以下简称"公司")第九届董事会第十八次 会议于 2024 年 10 月 30 日以现场加通讯表决的形式召开。会议通知于 2024 年 10 月 14 日以电子邮件方式发出。目前董事会共有 12 名董事，实到董事 11 名 （董事长蒋国兴先生因事未能出席会议，书面委托董事施雷先生代为出席并签 署相关文件）。经与会董事推选，由董事施雷先生主持会议。会议的召集召开符 合《公司法》和《公司章程》的有关规定，合法有效。 会议审议并通过了如下事项： 一、审议通过了《关于 2024 年第三季度报告议案》 | A 股证券代码：688385 | 证券简称：复旦微电 | 公告编号：2024-063 | | --- | - ...

M Idea Shanghai Fudan Microelectronics | Asia Pacific October 20, 2024 11:20 PM GMT Research Tactical Idea We believe the share price will fall relative to the country index over the next 30 days. This is because of an earnings release. The company announced preliminary 3Q24 earnings will be around Rmb77mn, down 59% QoQ and 62% YoY. This would represent only 18% of our 2H24 estimate of Rmb423mn, well below normal seasonality. The company has lowered some product pricing in the face of intense competition, a ...

Revenue Estimates - For the period from January 1, 2024, to September 30, 2024, the estimated revenue is expected to be between RMB 2,660 million and RMB 2,700 million, representing a year-on-year decrease of 2.85% to 1.39%[2]. - The previous year's revenue was RMB 2,738 million, and the net profit attributable to the parent company was RMB 650 million[2]. Profit Estimates - The estimated net profit attributable to the parent company is expected to be between RMB 400 million and RMB 450 million, reflecting a year-on-year decrease of 38.48% to 30.78%[2]. - The estimated net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be between RMB 370 million and RMB 400 million, indicating a year-on-year decrease of 38.69% to 33.72%[2]. Factors Affecting Performance - The decline in revenue and profit is attributed to intense market competition, price adjustments, and changes in product mix, leading to a decrease in overall gross margin[3]. - R&D expenses have increased due to ongoing product and technology iterations and a diversified supplier base[3]. Forecast Accuracy - The company has not identified any significant uncertainties affecting the accuracy of this earnings forecast[4]. - The data provided is preliminary and subject to change, with the final figures to be disclosed in the official Q3 2024 report[5].

| A 股证券代码：688385 | 证券简称：复旦微电 | 公告编号：2024-059 | | --- | --- | --- | | 港股证券代码：01385 | 证券简称：上海复旦 | | 上海复旦微电子集团股份有限公司 关于变更签字会计师的公告 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。 上海复旦微电子集团股份有限公司（以下简称"公司"）于 2024 年 3 月 22 日、2024 年 5 月 28 日分别召开第九届董事会第十四次会议、2023 年度股东周 年大会，审议通过了《关于续聘公司 2024 年度境内外审计机构及内部控制审计 机构的议案》，同意公司继续聘请安永华明会计师事务所（特殊普通合伙）（以 下简称"安永华明"）为公司 2024 年度境内外财务报告审计机构及内部控制审 计机构，聘期一年。具体内容详见公司于 2024 年 3 月 23 日在上海证券交易所 网站（www.sse.com.cn）披露的《关于续聘会计师事务所公告》（编号：2024- 018） 公司于近日收到安永华明发来的《关于变更上海复旦微 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The company is advancing its FPGA technology to 1xnm FinFET and has introduced products with millions to billions of gates, supported by proprietary EDA tools. The product range has been widely applied in various sectors including network communication and industrial control [5] - The company has completed the development of 55nm and 90nm embedded flash memory platforms for its MCU products, aiming to expand into key industries such as smart appliances and automotive electronics [6] - The company is expected to see growth in earnings per share (EPS) from 1.01 in 2024 to 1.54 in 2026, with a projected price-to-sales (PS) valuation range of 43.31 to 48.72 yuan, justifying the "Outperform the Market" rating [6][7] Financial Summary - The company's revenue for 2023 is projected at 3,536 million yuan, with a slight decrease from 2022, but expected to grow to 4,989 million yuan by 2026, reflecting a compound annual growth rate [7][9] - Net profit is forecasted to decline to 719 million yuan in 2023 but is expected to recover to 1,259 million yuan by 2026, indicating a strong recovery trajectory [7][9] - The gross margin is expected to stabilize around 59.7% to 59.8% from 2024 to 2026, while the return on equity is projected to improve from 13.6% in 2023 to 14.9% in 2026 [7][9] Product Development - The company is actively expanding its product matrix, particularly in the FPGA and MCU segments, with new products being developed and tested for various applications [5][6] - The introduction of new generation PSoC products and the enhancement of existing product lines are part of the company's strategy to maintain competitiveness in the market [5][6]

Group 1: Revenue Breakdown - In the first half of 2024, the revenue from the safety and identification product line was approximately CNY 370 million [1] - The non-volatile memory product line generated sales revenue of about CNY 599 million [1] - The smart meter chip product line's sales revenue was around CNY 212 million [1] - The FPGA and other products generated sales revenue of approximately CNY 553 million [1] - The testing services subsidiary, Hualing Co., achieved revenue of about CNY 130 million, with consolidated revenue after elimination being approximately CNY 58 million [2] Group 2: FPGA Business Insights - FPGA chips are ideal solutions in fields with frequent iterations and significant technological uncertainties, such as 5G communication and artificial intelligence [1] - The company is one of the leading domestic firms in the FPGA sector, providing low-cost, low-power, high-performance, and highly reliable product series for applications in computer vision, machine learning, and high-speed digital processing [1] - The market for FPGA and PSoC products is expected to expand as their applications continue to develop [1] Group 3: MCU and Industrial Expansion - The company's MCU products have a dispersed demand in the industrial sector, including power and industrial control instruments [1] - There are plans to expand business in the automotive and industrial sectors [1] Group 4: Testing Services and Market Trends - Hualing Co. is actively developing its business in integrated circuit testing technology and professional services [2] - After adjustments in 2023, the storage product line is experiencing a recovery in 2024, with significant sales growth and stable pricing for consumer and industrial-grade SPI NAND and NOR products [2] - The company offers FPGA products tailored for artificial intelligence applications across various sectors, including smart security, smart industry, smart agriculture, and smart logistics [2]

Financial Performance - The company's operating revenue for the first half of 2024 was approximately RMB 1.79 billion, a decrease of 0.12% compared to the same period in 2023[6]. - Net profit attributable to shareholders for the first half of 2024 was approximately RMB 348.09 million, a decrease of about 22.52% year-on-year[6]. - The comprehensive gross profit margin for the first half of 2024 was 56.49%, a decrease of 10.61 percentage points year-on-year[6]. - In the first half of 2024, the company achieved operating revenue of approximately RMB 1.794 billion, remaining basically flat year-on-year[24]. - Net profit attributable to shareholders was approximately RMB 348 million, a year-on-year decrease of 22.52%[24]. - The total comprehensive income for the first half of 2024 was RMB 339.89 million, down from RMB 465.87 million in the same period of 2023[46]. - The company reported a total profit of RMB 344.11 million, a decline of 26.2% from RMB 466.54 million in the previous year[45]. - The net profit for the first half of 2024 was RMB 339,684,234.43, a decrease of approximately 26.8% compared to RMB 463,997,407.12 in the same period of 2023[149]. Cash Flow and Liquidity - The net cash flow from operating activities turned positive at approximately RMB 127.13 million, compared to a negative cash flow of RMB 1.09 billion in the same period last year[7]. - Operating cash inflow for the first half of 2024 reached RMB 1,662,628,490.28, a significant increase from RMB 1,374,897,125.25 in the same period of 2023, representing a growth of approximately 21%[48]. - Cash inflow from investment activities totaled RMB 280,950,996.16, compared to RMB 48,757,854.90 in the previous year, indicating a substantial increase[50]. - Cash outflow for investment activities was RMB 605,566,029.33, up from RMB 356,171,193.91 in the first half of 2023, reflecting increased investment efforts[50]. - The ending cash and cash equivalents balance was RMB 782,322,362.59, compared to RMB 735,798,694.21 at the end of the first half of 2023, showing a slight increase[50]. - The company's cash and cash equivalents decreased to RMB 813,008,807.03, down from RMB 1,003,337,496.96 as of December 31, 2023, representing a decrease of approximately 19%[68]. Research and Development - Research and development expenses accounted for 33.31% of operating revenue, compared to 32.74% in the previous year[6]. - The company invested RMB 598 million in R&D during the reporting period, accounting for 33.31% of total revenue, highlighting a strong commitment to innovation[18]. - R&D expenses totaled RMB 540,299,186.90 for the first half of 2024, a slight increase of 2.6% from RMB 527,603,643.01 in the same period of 2023[133]. - The company has developed a new generation of NFC technology and achieved breakthroughs in UHF RFID tag chips, enhancing its competitive edge in the security and identification chip market[13]. - The company is advancing the development of new generation FPGA and PSoC products based on 1xnm FinFET technology, targeting applications in computer vision and machine learning[12]. Market and Product Performance - The semiconductor industry showed signs of recovery, with a reported 28.9% year-on-year increase in integrated circuit product output[8]. - The sales revenue from the security and identification product line was approximately RMB 370 million, down from RMB 410 million in 2023[9]. - The non-volatile memory product line achieved sales revenue of approximately RMB 599 million, slightly up from RMB 588 million in 2023[10]. - The smart meter MCU product line achieved sales revenue of approximately RMB 212 million in the reporting period, compared to RMB 113 million in 2023, reflecting a significant growth[11]. - The FPGA product line generated sales revenue of approximately RMB 553 million, slightly down from RMB 586 million in 2023, indicating a stable market presence despite a minor decline[12]. Assets and Liabilities - The company's total assets as of June 30, 2024, were approximately RMB 86.66 billion, an increase of about 3.03% from the beginning of the reporting period[7]. - The net assets attributable to shareholders increased to approximately RMB 55.99 billion, reflecting a growth of about 5.59% from the beginning of the reporting period[7]. - The company's inventory at the end of the reporting period was valued at approximately RMB 3.23 billion, representing 52.83% of total current assets[34]. - Total liabilities as of June 30, 2024, amounted to RMB 2,425,161,836.52, a slight decrease from RMB 2,449,649,077.25 as of December 31, 2023, representing a reduction of approximately 1%[42]. - Total equity attributable to shareholders increased to RMB 5,599,365,612.23 from RMB 5,302,976,177.60, reflecting a growth of about 5.6%[42]. Risk Factors - The company faces risks related to the slowdown in the integrated circuit industry and potential impacts from international trade environments[27][28]. - The company is focusing on improving its cash flow management by reducing outstanding receivables and increasing the efficiency of collections[84]. - The company faces market risks including interest rate risk and foreign exchange risk, but the impact of foreign exchange fluctuations is considered minimal due to operations primarily in RMB[174]. Corporate Governance and Compliance - The company has established a comprehensive quality control system and has received multiple management system certifications, enhancing its market credibility[20]. - The company continues to adhere to the accounting standards set forth by the Ministry of Finance, ensuring the accuracy and completeness of its financial reporting[62]. - The company has obtained high-tech enterprise certification, allowing it to pay a reduced corporate income tax rate of 15% for 2023[67].