中国国际金融股份有限公司 关于华润微电子有限公司首次公开发行股票并上市 暨 2020 年度向特定对象发行股票的持续督导保荐总结报告书 | 保荐机构名称 | 中国国际金融股份有限公司 | | --- | --- | | 注册地址 | 北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层 | | 办公地址 | 北京市朝阳区建国门外大街 1 号国贸大厦 2 座 27 层及 28 层 | | 法定代表人 陈亮 | | | 保荐代表人 | 魏先勇、王健 | 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意华润微电子有限 公司首次公开发行股票注册的批复》（证监许可〔2020〕 144 号）核准并经上海证券交 易所同意，华润微电子有限公司（以下简称"华润微"或"发行人"或"公司"）首次 公开发行人民币普通股（A 股）股票 292,994,049 股（超额配售选择权行使前），募集资 金总额 375,032.38 万元（超额配售选择权行使前），上述款项已于 2020 年 2 月 18 日全部 到位；2020 年 3 月 27 日，保荐机构中国国际金融股份有限公司（以下简称"中金公司" 或"保荐机构 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][3] Core Views - The company's Q1 2024 performance showed a decline, but this short-term pressure does not alter its long-term growth potential, maintaining a "Buy" rating. The company reported a revenue of 9.901 billion yuan in 2023, down 1.59% year-on-year, and a net profit attributable to shareholders of 1.479 billion yuan, down 43.48% year-on-year. For Q1 2024, revenue was 2.116 billion yuan, down 9.82% year-on-year, and net profit was 33 million yuan, down 91.27% year-on-year [3][4]. Financial Performance Summary - In 2023, the company achieved a revenue of 9.901 billion yuan, with a year-on-year decline of 1.59%. The net profit attributable to shareholders was 1.479 billion yuan, a decrease of 43.48% year-on-year. The gross margin was 32.22%, down 4.49 percentage points year-on-year. For Q1 2024, revenue was 2.116 billion yuan, down 9.82% year-on-year, and the gross margin was 26.48%, down 8.33 percentage points year-on-year [3][5]. Earnings Forecast - The earnings forecast for 2024-2025 has been revised down to 1.340 billion yuan and 1.667 billion yuan respectively, with a new 2026 profit forecast of 1.960 billion yuan. The corresponding EPS for 2024, 2025, and 2026 are projected to be 1.01 yuan, 1.26 yuan, and 1.48 yuan respectively. The current stock price corresponds to a PE ratio of 35.7, 28.7, and 24.4 for the respective years [3][5]. Market Expansion - The company is actively expanding into the automotive electronics market, with products entering major automotive manufacturers such as BYD, Geely, and FAW. The company has made significant progress in car-grade product certification and has seen a 135% year-on-year increase in revenue from third-generation semiconductors [4][5].

公司研 究 证 券研究 报 告 集成电路 2024年04月28日 华 润微（688396）2023年报及2024 年一季报点评 强 推 （维持） 当前价：36.16元 业绩短期承压，产品结构优化助力远期成长 事项： 华创证券研究所  2024年4月25日，公司发布2023年度报告及2024年第一季度报告： 证券分析师：耿琛  1）2023年：营业收入99.01亿元，同比-1.59%；毛利率32.22%，同比-4.49pct； 电话：0755-82755859 归母净利润/扣非后归母净利润14.79/11.27亿元，同比-43.48%/-49.97%。 邮箱：gengchen@hcyjs.com  2）2024Q1：营业收入21.16亿元，同比/环比-9.82%/-10.75%；毛利率26.48%， 执业编号：S0360517100004 同比/环比-8.33pct/-1.95pct；归母净利润0.33 亿元，同比/环比-91.27%/-92.15%； 证券分析师：岳阳 扣非后归母净利润0.58亿元，同比/环比-82.83%/-72.06%。 评论： 邮箱：yueyang@hcyjs.com 执业编 号： ...

2024 年 04 月 26 日 公司研究 评级：买入 (维持 ) 研究所： [Table_Title] 业绩短期承压， 吋线 先进封测项目值得 Q1 12 + 证券分析师： 郑奇 S0350524030006 zhengq@ghzq.com.cn 证券分析师： 高力洋 S0350524010003 期待 gaoly01@ghzq.com.cn —华润微（688396）2023 年年报及 2024Q1 季报点评报告 最近一年走势 事件: 2024年4月25日，华润微发布2023年年报及2024Q1季报：2023年， 公司实现营业收入99.01亿元，同比下降1.59%；毛利率32.22%；归母 净利润14.79亿元，同比下降43.48%；扣非归母净利润11.27亿元，同 比下降49.97%。 分季度看，2023Q4公司实现营收23.71亿元，同比下降2.38%；毛利率 28.43%；归母净利润4.23亿元，同比下降24.45%；扣非归母净利润2.07 亿元，同比下降46.97%。 相对沪深300表现 2024/04/26 2024Q1公司实现营收21.16亿元，同比下降9.82%；毛利率26.48%； 表现 1 ...

2023 Sustainable Development Report 1 Table of contents New Journey Gather our Hearts and Minds to Draw a New Chapter 2 New Momentum Serve Customers to Share a Better Future 3 New Developments Create Sustainability Through Green Operations 4 New Vitality Empower Employees for Mutual Growth New Undertakings Dedicate to Society, Promote a Better Future 90 Ensure Safe Production New Opportunities Join Hands with Partners for Development Future Prospects Appendixes 97 98 1 6 5 About this Report 02 Message from ...

Financial Performance - The company reported a significant increase in revenue, reaching $1.2 billion, representing a 15% year-over-year growth[12]. - The company's operating revenue for 2023 was CNY 9,900,603,859, a decrease of 1.59% compared to the previous year[18]. - Net profit attributable to shareholders for 2023 was CNY 1,479,265,748.53, down 43.48% year-on-year[18]. - The net cash flow from operating activities was CNY 1,737,665,674.14, a decline of 43.18% compared to 2022[18]. - The basic earnings per share for 2023 was CNY 1.1206, representing a decrease of 43.48% from the previous year[19]. - The company's total assets at the end of 2023 were CNY 29,215,259,820.18, an increase of 10.42% year-on-year[18]. - The total net assets attributable to shareholders at the end of 2023 were CNY 21,558,056,748.30, reflecting a year-on-year increase of 7.89%[18]. - The company's operating cash flow net amount was 1.738 billion RMB, a decrease of 43.18% compared to the previous year[95]. - The company achieved operating revenue of 9.9 billion RMB, a decrease of 1.59% compared to the previous year[94]. - The net profit attributable to the parent company was 1.479 billion RMB, down 43.48% year-on-year[94]. Dividend Policy - The company plans to distribute a cash dividend of 1.118 RMB per 10 shares, totaling approximately 147.97 million RMB, which represents 10% of the net profit attributable to shareholders for the year 2023[3]. - The company has not proposed any capital reserve transfers to increase share capital or stock dividends for the year 2023, focusing instead on cash dividends[3]. - The company has not proposed any cash profit distribution plan despite having a positive profit available for distribution to shareholders[175]. Research and Development - The company is investing in R&D, with a budget increase of 20% to enhance technology development and innovation[12]. - R&D expenditure accounted for 11.66% of operating revenue, an increase of 2.50 percentage points compared to 2022[20]. - Research and development investment reached 1.154 billion RMB, an increase of 25.30%, accounting for 11.66% of operating revenue[94]. - The company has established a robust R&D framework for GaN devices, achieving high yield and excellent breakdown voltage performance[55]. - The total number of R&D personnel increased to 1,597, representing 15.58% of the company's total workforce[68]. - The average salary of R&D personnel rose to 31.70 thousand RMB, up from 29.33 thousand RMB in the previous period[68]. - The company has received 158 new invention patents during the reporting period, bringing the total to 4,731[61]. Market Expansion and Strategy - The company is exploring strategic acquisitions to bolster its product portfolio, with a target of $300 million in potential acquisitions[12]. - Market expansion efforts include entering two new international markets, aiming for a 5% market share within the first year[12]. - The company is actively expanding into the automotive electronics market, with products entering major automotive manufacturers such as BYD and Geely[27]. - The company aims to enhance its core technology and product offerings in power semiconductors and smart sensors, focusing on new economic applications[129]. - The company is focusing on the industrial control and automotive electronics sectors to achieve greater market penetration and business growth[130]. Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy of its financial statements[2]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties, indicating strong governance practices[2]. - The company has established governance systems that clarify the rights and responsibilities of shareholders in decision-making processes, ensuring no significant differences from A-share companies[150]. - The company is governed under the Cayman Islands Company Law, which allows for the distribution of remaining assets to shareholders after settling employee compensation, taxes, and debts[151]. - The company has implemented a comprehensive quality management system, achieving multiple certifications including ISO/IATF16949 and ISO9001[76]. Environmental Responsibility - The company reported a total greenhouse gas emissions of 556,800 tons in 2023, with a per unit output emission of 0.4237 tons per ten thousand yuan[196]. - The comprehensive energy consumption for 2023 was 86,056 tons of standard coal, with a per unit output energy consumption of 0.0655 tons per ten thousand yuan, representing a 4.20% decrease from 2022[197]. - The company invested 47.51 million yuan in environmental protection during the reporting period[186]. - The company has established environmental protection mechanisms and has been recognized as a key pollutant discharge unit by the environmental protection department[187]. - The company has conducted environmental impact assessments and applied for environmental protection permits in accordance with regulations[190]. Operational Efficiency - The company reported a decrease in operating expenses by 8%, reflecting improved operational efficiency[12]. - The gross margin improved to 40%, up from 35% in the previous year, indicating better cost management[12]. - The company's gross margin for integrated circuits decreased by 4.62 percentage points to 32.25% due to the increase in costs[97]. - The company's gross margin for the product and solution segment decreased by 9.51 percentage points to 26.62%[97]. Talent Development - The company has established a talent development system focusing on leadership and professional skills, with specific training programs for different management levels[173]. - A total of 162 middle-level managers are currently undergoing training programs aimed at enhancing their political awareness and professional capabilities[173]. - The company has trained 81 master's degree holders and 7 doctoral candidates through its in-house educational programs[173]. - The company emphasizes performance-oriented evaluations for senior management, linking their incentives to overall company performance and individual assessments[181]. Strategic Initiatives - The company is implementing a "four-chain integration" framework to drive business development, aiming for significant growth in the next two years[133]. - The company plans to achieve a twofold increase in sales of wide bandgap semiconductors in 2024, focusing on SiC MOSFET and GaN technologies[135]. - The company is pushing for a major increase in revenue from its advanced packaging sector in 2024, driven by the expansion of its advanced power packaging base[137].

证券简称： 华润微 证券代码：688396 华润微电子 2024 华 润 微 电 子 有 限 公 司 China Resources Microelectronics Limited | 坚持全产业链IDM商业模式 | 01 | | 06 | | --- | --- | --- | --- | | | | 以高质量发展铸就价值投资基础 | | | | | 加快发展新质生产力 | | | | 02 | 聚焦技术和产品创新 | 09 | | | 目 | | | | | | 以奋斗者为本 | | | 深入实施人才强企战略 | 录 03 | | 12 | | | | 以投资者为本 | | | 与投资者共享发展成果 | 04 | | 15 | | | | 完善公司治理结构 | | | 以卓越董事会实现高效管理 | 05 | | 17 | | 合规严谨做好投关管理 | | | | | 多措并举提高上市公司质量 | 06 | | 21 | | | | 全面贯彻"ESG"理念 | | | 坚定执行"双碳"战略 | 07 | | 23 | 坚持全产业链IDM商业模式 以高质量发展铸就价值投资基础 01 华润微电子有限公司是中国 ...

经核查公司独立董事夏正曙、杨旸、张志高、庄巍的兼职、任职情况 以及其签署的独立性自查情况报告，上述人员除在公司担任独立董事外， 不存在在公司任职以及在公司主要股东单位任职的情形，与公司以及主要 股东之间不存在利害关系、重大业务往来或其他可能妨碍其独立性的关系。 因此，董事会认为公司独立董事符合《上市公司独立董事管理办法》《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》中对独 立董事独立性的相关要求。 华润微电子有限公司董事会 2024 年 4 月 25 日 华润微电子有限公司董事会 2023 年度对独立董事独立性自查情况的专项报告 根据证监会《上市公司独立董事管理办法》《上海证券交易所科创板 股票上市规则》《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》等相关要求，华润微电子有限公司（以下简称"公司"或"华 润微"）董事会，就公司独立董事夏正曙、杨旸、张志高、庄巍的独立性 情况进行评估并出具如下专项意见： ...

华润微电子有限公司 会计师事务所履职情况评估报告 华润微电子有限公司（以下简称"公司"）聘请立信会计师事务所（特殊普 通合伙）（以下简称"立信"）作为公司 2023 年度财务报告出具审计报告的会 计师事务所。 （二）聘任会计师事务所履行的程序 公司于 2023 年 4 月 26 日召开第二届董事会审计合规委员会第五次会议和第 二届董事会第八次会议，于 2023 年 5 月 19 日召开 2022 年年度股东大会，分别 审议通过了《关于聘任公司 2023 年度审计机构的议案》，公司聘请立信为公司 2023 年度审计机构。公司独立董事对上述议案发表了事前认可意见及同意的独 立意见。 二、2023 年年审会计师事务所履职情况 按照《审计业务约定书》，遵循《中国注册会计师审计准则》和其他执业规 范，立信对公司 2023 年度财务报告及 2023 年 12 月 31 日的财务报告内部控制的 有效性进行了审计，同时对公司募集资金存放与实际使用情况、控股股东及其他 关联方占用资金情况等进行核查并出具了专项报告。 经审计，立信认为公司财务报表在所有重大方面按照企业会计准则的规定编 制，公允反映了公司 2023 年 12 月 ...

中国国际金融股份有限公司 关于华润微电子有限公司 2023 年度募集资金存放与使用情况的核查意见 中国国际金融股份有限公司（以下简称"中金公司"、"保荐机构"）作为 华润微电子有限公司（以下简称"华润微"或"公司"）首次公开发行股票并在 科创板上市的保荐机构，根据《上市公司监管指引第2号——上市公司募集资金 管理和使用的监管要求》《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》和《上海证券交易所科创板股票上市规则》等有关规定，对华润 微2023年度募集资金存放与使用情况进行核查并说明如下： 一、募集资金基本情况 （一）首次公开发行股票募集资金 经中国证券监督管理委员会证监许可[2020]144 号文核准，华润微首次公开 发行人民币普通股（A 股）股票 292,994,049 股（超额配售选择权行使前），募 集资金总额 375,032.38 万元（超额配售选择权行使前），募集资金净额为 367,320.13 万元（超额配售选择权行使前），上述款项已于 2020 年 2 月 18 日全 部到位。天职国际会计师事务所（特殊普通合伙）对公司本次公开发行新股的资 金到位情况进行了审验，并于 2020 年 ...