华润微电子有限公司 关于变更公司董事的公告 证券代码：688396 证券简称：华润微 公告编号：2025-026 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、准确性和完整性承担法律责任。 重要内容提示： 华润微电子有限公司（以下简称"华润微"或"公司"）董事会于近日收到 董事张丹女士提交的书面辞职报告。公司现任董事张丹女士因工作调整原因，申 请辞去公司董事职务，张丹女士辞职后将不再担任公司的任何职务，张丹女士递 交的辞任报告自送达董事会之日起生效。经公司董事会提名委员会提名，公司董 事会拟选举杨卓先生担任公司董事，杨卓先生的任期自股东会审议通过之日起至 第三届董事会任期届满止。该事项尚需提交公司股东会审议。 张丹女士的辞职未导致公司董事会成员人数低于法定人数，不影响公司董事 会的正常运行，亦不会对公司日常运营产生不利影响。截至本公告披露日，张丹 女士未持有公司股份，在本届董事会任期内，张丹女士承诺按照董事进行股份增 减持管理，遵守中国证监会及上海证券交易所关于董事股份增减持的规定。公司 董事会对张丹女士在任期间的勤勉工作和为公司发展做出的贡献表示衷心感 ...

证券简称：华润微 证券代码：688396 华 润 微 电 子 有 限 公 司 China Resources Microelectronics Limited 1 / 11 华润微电子有限公司 关于 2025 年度"提质增效重回报"专项 行动方案半年度评估报告 华润微电子有限公司（以下简称"公司"）秉持"以投资 者为本、高质量发展"的理念，结合公司战略发展规划及业务 实际，于 2025 年 4 月 30 日发布《华润微电子有限公司 2025 年度"提质增效重回报"行动方案》。公司致力于通过稳健经 营、规范治理、积极回报股东等措施，切实履行上市公司责任， 夯实长期投资价值根基。2025 年上半年，在行动方案及整体战 略指引下，各项举措扎实落地、成效显著。现将上半年具体执 行情况与成果报告如下： 3.先进功率封测基地 一、坚持 IDM 商业模式，以高质量发展铸就价值投资基础 2025 年上半年，受益于汽车电子、光伏、储能及消费电子 等市场平稳增长，公司持续强化产品核心竞争力，优化客户结 构，多个新产品成功导入核心客户，在国内市场已形成品牌影 响力。 报告期内，公司实现营业收入 52.18 亿元，同比增长 9.62 ...

Core Viewpoint - The Nasdaq China Golden Dragon Index experienced a decline of 2.58%, indicating a broad downturn in popular Chinese concept stocks [1] Group 1: Stock Performance - Upward Mobility and Canadian Solar saw declines exceeding 9% [1] - Li Auto dropped over 8%, while Xpeng Motors fell nearly 7% [1] - NIO experienced a decline of nearly 6%, and JinkoSolar decreased by almost 5% [1] - JD.com fell over 3%, with Baidu and Daqo New Energy also down nearly 3% [1] - Alibaba's stock decreased by 1.6% [1]

Core Insights - The power semiconductor industry in China has developed a complete ecosystem with leading companies specializing in various segments, including IGBT modules, diodes, and traditional devices, contributing to the import substitution process in key areas like automotive electronics and renewable energy [1][8]. Company Overview - New Energy and Stada Semiconductor focus on IGBT modules, leading in the renewable energy sector [1]. - Jiejie Microelectronics and Suzhou Good focus on diodes and thyristors, serving home appliances and industrial automation markets [1]. - Huazhong Microelectronics and Silan Microelectronics are IDM leaders covering the entire industry chain [1]. - Wentai Technology has expanded into automotive-grade products through the acquisition of Anshi Semiconductor [1]. - Yangjie Technology leads in discrete devices, while Dongwei Semiconductor and Hongwei Technology focus on high-end MOSFET and IGBT research [1]. - Pairui Technology specializes in high-voltage devices, and Zhenhua Technology and Huami Electronics have advantages in military and industrial sectors [1]. - Galaxy Microelectronics, Xindao Technology, and Kaiweite focus on miniaturized devices in niche markets [1]. Performance Comparison - In Q1 2025, most power semiconductor companies reported gross margins between 10% and 45%, indicating good profitability [5]. - Wentai Technology led in revenue with 13.1 billion yuan, although its year-on-year growth rate declined [5]. - Pairui Technology achieved the highest gross margin at 58.4%, showcasing its cost control and efficiency [5]. Revenue and Gross Margin Data - New Energy reported Q1 2025 revenue of 450 million yuan with a gross margin of 36.6% [6]. - Jiejie Microelectronics had revenue of 700 million yuan and a gross margin of 39.9% [6]. - Huazhong Microelectronics reported 2.35 billion yuan in revenue with a gross margin of 25.3% [6]. - Wentai Technology's revenue was 13.1 billion yuan with a gross margin of 14.0% [6]. - Silan Microelectronics had revenue of 3 billion yuan and a gross margin of 21.3% [6]. - Stada Semiconductor reported 920 million yuan in revenue with a gross margin of 30.4% [6]. - Suzhou Good achieved 900 million yuan in revenue with a gross margin of 10.8% [6]. - Yangjie Technology reported 1.58 billion yuan in revenue with a gross margin of 34.6% [6]. - Galaxy Microelectronics had revenue of 220 million yuan and a gross margin of 24.0% [6]. - Pairui Technology's revenue was 30 million yuan with a gross margin of 58.4% [6]. - Hongwei Technology reported 300 million yuan in revenue with a gross margin of 16.4% [6]. - Dongwei Semiconductor achieved 280 million yuan in revenue with a gross margin of 13.6% [7]. - Taiji Technology reported 70 million yuan in revenue with a gross margin of 29.0% [7]. - Zhenhua Technology had revenue of 910 million yuan and a gross margin of 42.5% [7]. - Huami Electronics reported 640 million yuan in revenue with a gross margin of 28.0% [7]. Regional Distribution - Domestic sales dominate, with most companies having over 70% of their sales in China, except Wentai Technology, which has a balanced global presence [8]. - The East and South China regions are core areas for companies like Stada Semiconductor, Silan Microelectronics, and New Energy, while North and Central China focus on industrial and power applications [8]. - Companies like Zhenhua Technology and Huami Electronics leverage local bases to expand into surrounding areas [8]. Future Business Plans - The industry aims to build competitive barriers through capacity expansion, automotive certification, and domestic substitution [16]. - Leading companies are accelerating the expansion of automotive-grade IGBT modules and focusing on the photovoltaic storage market [16]. - Companies are also enhancing their technology capabilities, with a focus on 12-inch wafer production and third-generation semiconductor layouts [16].

Market Overview - In 2024, the overall packaging market is expected to grow by 16% year-on-year to reach $105.5 billion, with the advanced packaging market growing by 20.6% to $51.3 billion, accounting for nearly 50% of the total [2][14]. - By 2030, the overall packaging market is projected to reach $160.9 billion, with advanced packaging expected to grow to $91.1 billion, resulting in a compound annual growth rate (CAGR) of 10% from 2024 to 2039 [2][14]. - The high-end market share is anticipated to increase from 8% in 2023 to 33% by 2029, driven by the demand from generative AI, edge computing, and intelligent driving ADAS [2][16]. Need for Advanced Packaging - The end of Moore's Law for advanced processes marks the beginning of the packaging Moore's Law, focusing on achieving higher performance at lower costs through system-level packaging techniques [3][30]. - The increasing demand for diverse functionalities leads to more frequent interactions between functional devices, necessitating efficient high-speed interconnections between chips to enhance overall system performance [3][30]. Need for Panel-Level Packaging (PLP) - PLP technology offers higher cost-effectiveness, greater design flexibility, and superior thermal and electrical performance, with significant potential to replace traditional packaging methods [4][42]. - The traditional packaging market is projected to reach $54.2 billion in 2024 and $69.8 billion by 2030, indicating a broad space for PLP to replace existing solutions [4][42]. - The wafer-level packaging market is expected to be $2.1 billion in 2024, with the FO/2.5D organic interposer market at $1.8 billion, potentially reaching $8.4 billion by 2030 [4][42]. Importance of Substrates in High-End Markets - Packaging substrates play a crucial role in signal transmission, heat dissipation, protection, and functional integration, with low-loss transmission being a key property [5][36]. - The increasing I/O density requirements driven by trends in mobile devices, 5G, data centers, and high-performance computing necessitate advancements in substrate technology to meet higher resolution demands [5][36]. COWOP and Substrate-Less Concepts - The Chip on Wafer on PCB (COWOP) concept blurs the definitions between PCB and substrate, focusing on transferring substrate functions to PCB while maintaining compatibility with existing technologies [6][36]. - Current PCB wiring density and I/O density are insufficient to match interposer requirements, necessitating the development of materials that can achieve high-density I/O [6][36]. Related Companies - Key players in the packaging substrate and materials sector include companies like Unimicron, BOE, and Corning, which are diversifying their businesses to capture opportunities in PLP and glass substrate applications [45].

截至2025年8月25日 10:55，科创综指ETF鹏华(589680)上涨2.95%，成分股开普云(688228)上涨20.00%， 航天宏图(688066)上涨20.00%，德科立(688205)上涨14.57%，云天励飞(688343)，海光信息(688041)等个 股跟涨。 浙商证券指出，自2024年9月24日以来，本轮AI主线引领的牛市中，科创板是引领板块。类似于，2013 年至2015年互联网主线引领的牛市中，创业板是引领板块。在这长达2年半的牛市运行中，主要划分为 三阶段，分别是，预期反转驱动、产业景气驱动、资金情绪驱动。其中，产业基本面驱动是主升段，是 牛市主要上涨阶段。 数据显示，截至2025年7月31日，上证科创板综合指数(000680)前十大权重股分别为海光信息(688041)、 寒武纪(688256)、中芯国际(688981)、金山办公(688111)、中微公司(688012)、百利天恒(688506)、联影 医疗(688271)、澜起科技(688008)、传音控股(688036)、华润微(688396)，前十大权重股合计占比 20.97%。 科创综指ETF(589680)，场外联接A ...

Market Performance - The three major U.S. stock indices experienced slight declines, with the S&P 500 down 0.4%, the Dow Jones down 0.34%, and the Nasdaq down 0.34% [1] - Major tech stocks mostly fell, with Tesla and Meta dropping over 1%, while Apple, Microsoft, Nvidia, Netflix, Amazon, AMD, and Intel saw slight declines; Google experienced a small increase [1] - Popular Chinese concept stocks mostly rose, with the Nasdaq Golden Dragon China Index up 1.35%. Xpeng Motors surged nearly 12%, NIO rose over 9%, and several others saw gains of over 6% [1] Federal Reserve and Market Sentiment - The market is highly focused on the future monetary policy direction of the Federal Reserve, with traders betting on a significant 50 basis point rate cut in September [2] - There are 325,000 options contracts betting on a 50 basis point cut, with a potential profit of $100 million if the Fed follows through [2] - Many market participants believe that a weak U.S. job market has opened the door for a more dovish statement from Powell at the upcoming Jackson Hole conference [2] Political Influence on Federal Reserve - Trump is pushing to remove Federal Reserve Governor Lisa Cook, which could allow him to gain majority control over the seven-member board [4] - If successful, this move would enhance the White House's influence over the Fed, which has faced ongoing criticism from Trump regarding its monetary policy decisions [4] - Analysts suggest that this is part of the current administration's broader strategy to exert control over the Federal Reserve [5]

Core Viewpoint - China Resources Microelectronics announced plans to hold a semi-annual performance briefing on August 29, 2025, from 10:00 to 11:00 [2] Company Summary - The company is preparing for a performance briefing to discuss its financial results for the first half of 2025 [2] - The event is scheduled to take place on a Friday, indicating a strategic choice for investor engagement [2]

证券代码：688396 证券简称：华润微 公告编号：2025-024 华润微电子有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 投资者可于 2025 年 8 月 29 日（星期五）10:00 前扫描文中问题征集二 维码进行会前提问。华润微电子有限公司（以下简称"公司"）将通过本次业绩 说明会，在信息披露允许范围内就投资者普遍关注的问题进行回答，"详见三、 投资者参加方式"。 公司将于 2025 年 8 月 29 日披露公司 2025 年半年度报告，为便于广大投资 者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 8 月 29 日（星期五）10:00-11:00 召开 2025 年半年度业绩说明会，就投资者关 心的问题进行交流。 一、说明会类型 本次业绩说明会以网络及电话会议方式召开，公司将针对 2025 年半年度经 1 手机端参会：登陆"进门财经"APP 或"进门财经"小程序，搜索"688396"或"华 润微"进入 ...

Group 1 - The Shanghai Stock Exchange National New Sci-Tech Board State-Owned Enterprises Index (950253) increased by 2.5%, closing at 1126.03 points with a trading volume of 37.353 billion yuan [1] - The index has risen by 11.82% over the past month, 16.07% over the past three months, and 15.75% year-to-date [1] - The index reflects the overall performance of state-owned enterprises listed on the Sci-Tech Board, selected from companies with state capital participation and no actual controllers, with a base date of December 30, 2022, set at 1000.0 points [1] Group 2 - The top ten weighted stocks in the index include Huahong Semiconductor (6.01%), Huahai Qingke (5.0%), Western Superconducting (4.97%), Haiguang Information (4.92%), SMIC (4.74%), China Resources Microelectronics (4.68%), Zhongwei Company (4.34%), Jinghe Integrated (3.43%), Guodun Quantum (3.33%), and Zhongke Xingtou (2.96%) [1] - The index's holdings are entirely composed of stocks listed on the Shanghai Stock Exchange, with a 100% allocation [1] Group 3 - In terms of industry composition, the index's sample shows that Information Technology accounts for 54.27%, Industry for 29.22%, Materials for 9.09%, Communication Services for 4.90%, and Healthcare for 2.52% [2] - The index samples are adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - In special circumstances, the index may undergo temporary adjustments, such as when a sample company is delisted or undergoes mergers, acquisitions, or splits [2]