Group 1: Share Buybacks and Investments - China Communications Construction Company plans to repurchase shares worth between 500 million to 1 billion yuan, with a maximum repurchase price of 13.58 yuan per share [6] - Yingtan Technology intends to adjust the upper limit of its share repurchase price from 38 yuan to 65.04 yuan per share due to recent stock price increases [3] - Zhongjian Technology is set to invest 1.402 billion yuan in a high-performance carbon fiber product project, aiming for an annual production capacity of 2,000 tons [13] Group 2: Mergers and Acquisitions - Zhejiang Longsheng plans to acquire a 37.57% stake in its subsidiary, Desida, for 697 million USD, aiming to resolve litigation issues and consolidate ownership [9] - Bohai Automotive intends to purchase equity stakes in several companies, with its stock set to be suspended from trading starting June 3, 2025, for up to 10 trading days [4] Group 3: Regulatory and Compliance Issues - Aerospace Morningstar has been suspended from participating in military procurement activities due to reported violations [2] - ST Baili received an administrative penalty notice from the Hunan Securities Regulatory Bureau for failing to disclose non-operating fund occupation matters, facing fines totaling 4 million yuan [8] - Jinfu Technology has also received an administrative penalty notice for falsely reporting revenue, with proposed fines totaling 7.5 million yuan [12] Group 4: New Listings and Stock Changes - Jiewate has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange, pending regulatory approvals [4] - ST Gengxing will change its stock name to ST Haiqin starting June 6, 2025, while maintaining its stock code [5]

Core Viewpoint - The company has announced the termination of a significant asset restructuring plan due to the inability to reach an agreement on certain commercial terms with the transaction counterparties [1][3]. Group 1: Overview of the Termination - The company intended to acquire approximately 60% of the equity of Gaofeng (Beijing) Technology Co., Ltd. through cash payment, which would have made the company the controlling shareholder of the target company [1]. - The termination was agreed upon after thorough discussions and negotiations, as the parties could not reach consensus on some commercial terms [3]. Group 2: Actions Taken During Restructuring - The company adhered to the regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange, actively promoting the transaction and engaging in multiple rounds of negotiations with relevant parties [2]. - The company fulfilled its information disclosure obligations and maintained confidentiality regarding insider information throughout the restructuring process [2]. Group 3: Reasons for Termination - The termination was a mutual decision due to the lack of agreement on specific commercial terms, aimed at protecting the interests of the company and all shareholders [3]. Group 4: Impact of Termination - The termination of the restructuring will not adversely affect the company's business operations, production activities, or financial status, and there is no harm to the interests of shareholders, particularly minority shareholders [4]. - The company expressed apologies for any inconvenience caused to investors and thanked them for their ongoing support [4]. Group 5: Commitment and Other Information - The company has committed not to plan any significant asset restructuring for at least one month following the announcement [4]. - The company emphasized that all information should be verified through its designated disclosure channels [4].

证券代码：688432 证券简称：有研硅 公告编号：2025-023 有研半导体硅材料股份公司 关于终止重大资产重组的提示性公告 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。 有研半导体硅材料股份公司（以下简称"公司"）于 2025 年 3 月 5 日披露 了《有研半导体硅材料股份公司关于筹划重大资产重组暨签署<股权收购意向协 议>的提示性公告》（公告编号：2025-002），拟以支付现金的方式收购高频（北 京）科技股份有限公司(以下简称"标的公司")约 60%的股权（以下简称"本次 交易"）。《股权收购意向协议》签署后，交易各方对本次交易方案进行积极论证 和协商，但未能就部分商业条款达成一致意见。为切实维护公司及全体股东利益， 经公司充分审慎研究并与交易对方友好协商，交易各方一致同意终止本次交易事 项，并于近日签署了《股权收购意向协议之终止协议》，本次重大资产重组事项 终止。现就有关情况公告如下： 一、 本次重大资产重组的基本情况 三、 终止筹划本次重大资产重组的原因 2025 年 3 月 4 日，公司与标的公司及其股 ...

Group 1 - The company announced its intention to acquire approximately 60% of the shares of Gaofeng (Beijing) Technology Co., Ltd. through a cash payment [1] - After signing the Share Acquisition Intent Agreement, the parties involved actively discussed and negotiated the transaction plan but could not reach consensus on certain commercial terms [1] - To protect the interests of the company and all shareholders, the parties agreed to terminate the transaction and signed the Termination Agreement for the Share Acquisition Intent Agreement [1]

Group 1 - The company announced a major asset restructuring plan on March 5, 2025, intending to acquire approximately 60% of the shares of Gaofeng (Beijing) Technology Co., Ltd. through cash payment [1] - The parties involved in the transaction could not reach an agreement on certain commercial terms, leading to a mutual decision to terminate the transaction [1] - A termination agreement for the equity acquisition intention agreement was signed recently, confirming the termination of the major asset restructuring matter [1] Group 2 - The company committed to not planning any major asset restructuring matters for at least one month from the date of this announcement [1]

Core Viewpoint - The global semiconductor industry is showing signs of recovery, but the recovery of semiconductor wafer production is lagging behind the overall market, with several A-share semiconductor wafer companies experiencing profit declines in Q1 2025 [1] Group 1: Market Trends - The semiconductor wafer industry entered a cyclical inventory adjustment phase since Q4 2022, with global wafer shipments expected to decline to 12.266 billion square inches in 2024, a year-on-year decrease of 2.67%, and sales expected to drop to $11.5 billion, a decline of 6.5% [2] - In Q1 2024, the semiconductor wafer market maintained a mild recovery, with global wafer shipment area increasing by 4.6% year-on-year, although there was a divergence in different sizes: 300mm wafer shipments grew by 5.7%, while 200mm shipments declined by 2.9% [2] Group 2: Company Performance - Shanghai Silicon Industry reported a revenue of approximately 3.388 billion yuan last year, with a net profit loss of about 971 million yuan, and a net profit loss of around 200 million yuan in Q1 this year [2] - Li Wei, the executive vice president of Shanghai Silicon Industry, indicated that sales and overall revenue are expected to rise in 2024 and Q1 2025, but price recovery depends on further market recovery [2] - Lian Microelectronics reported a revenue of 3.092 billion yuan last year, a year-on-year increase of nearly 15%, but a net profit loss of 266 million yuan due to cost pressures from capacity expansion and product price declines [3] Group 3: Capacity Expansion - The focus of capacity expansion is shifting towards 12-inch semiconductor wafers, with Lian Microelectronics' factories in Jiaxing and Quzhou currently in the ramp-up phase [4] - Lian Microelectronics plans to invest 1.23 billion yuan in a project to produce 960,000 pieces of 12-inch epitaxial wafers annually [4] - Shanghai Silicon Industry's 12-inch wafer capacity is expected to reach 600,000 pieces per month by the end of 2024, with ongoing capacity construction in Taiyuan [5] Group 4: Capital Operations - Semiconductor wafer companies are actively engaging in capital operations, with Shanghai Silicon Industry planning to acquire minority stakes in subsidiaries for 7.04 billion yuan to enhance its 300mm wafer business [6] - Yuyuan Silicon is expanding through acquisitions, including a plan to acquire 60% of High Frequency (Beijing) Technology Co., a supplier of ultra-pure water systems for chip manufacturing [7] - Yuyuan Silicon also plans to acquire 70% of DG Technologies for 11.91 billion yen, which will help enhance its manufacturing technology for etching equipment [7]

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、 本次重大资产重组的基本情况 有研半导体硅材料股份公司（以下简称"公司"）拟以支付现金的方式 收购高频（北京）科技股份有限公司(以下简称"标的公司")约 60%的股权（以 下简称"本次交易"），本次交易完成后公司将成为标的公司控股股东。 证券代码：688432 证券简称：有研硅 公告编号：2025-022 有研半导体硅材料股份公司 关于筹划重大资产重组的进展公告 截至本公告披露之日，公司及有关各方正在积极推进本次重大资产重组的相 关工作，具体方案仍在谨慎筹划论证中，公司将继续按照《上市公司重大资产重 组管理办法》及其他有关规定，及时履行信息披露义务。 1 三、 风险提示 本次交易尚处于筹划阶段，具体交易方案尚需进一步论证和沟通协商，并需 按照相关法律、法规及公司章程的规定履行必要的决策和审批程序，最终能否实 施及实施的具体进度均存在不确定性。 公司指定信息披露媒体为上海证券交易所网站（www.sse.com.cn），有关公 司的信息均以在上述指定信息披露媒体刊登的为准。公 ...

证券代码：688432 证券简称：有研硅 公告编号：2025-021 有研半导体硅材料股份公司 2024年年度股东会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 4 月 25 日 （二） 股东会召开的地点：北京市西城区新街口外大街 2 号有研大厦 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 163 | | --- | --- | | 普通股股东人数 | 163 | | 2、出席会议的股东所持有的表决权数量 | 999,643,686 | | 普通股股东所持有表决权数量 | 999,643,686 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 80.3530 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 80.3530 | 注：截至本次股东会股权登 ...

北京德恒律师事务所 关于有研半导体硅材料股份公司 2024 年年度股东会的 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于有研半导体硅材料股份公司 2024 年年度股东会的 法律意见 德恒 01G20250167-2 号 致：有研半导体硅材料股份公司 有研半导体硅材料股份公司（以下简称"公司"）2024 年年度股东会（以下 简称"本次会议"）于 2025 年 4 月 25 日（星期五）召开。北京德恒律师事务所 （以下简称"德恒"）受公司委托，指派黄卓颖、赵明宝律师（以下简称"德恒 律师"）出席了本次会议。根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、中国证券 监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》"）、《有 研半导体硅材料股份公司章程》（以下简称"《公司章程》"）的规定，德恒律 师就本次会议的召集、召开程序、现场出席会议人员资格、表决程序等相关事项 进行见证，并发表法律意见。 为出具本法律意见，德 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 230,824,367.90, a decrease of 1.64% compared to CNY 234,682,549.22 in the same period last year[4] - Net profit attributable to shareholders was CNY 49,079,915.63, down 12.96% from CNY 56,384,833.25 year-on-year[4] - Total operating revenue for Q1 2025 was CNY 230,824,367.90, a decrease of 1.8% compared to CNY 234,682,549.22 in Q1 2024[19] - Net profit for Q1 2025 was CNY 58,156,436.17, a decrease of 8.8% from CNY 63,718,209.36 in Q1 2024[21] - Earnings per share for Q1 2025 was CNY 0.039, compared to CNY 0.045 in Q1 2024[21] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 168.13%, reaching CNY 69,104,766.75 compared to CNY 25,772,581.76 in the previous year[4] - The total cash and cash equivalents at the end of the period reached 1,954,687,514.53, up from 1,322,161,758.61, indicating a strong liquidity position[27] - Cash inflow from investment activities totaled 1,926,185,900.14, compared to 2,491,441,257.69 in the prior period, indicating a decrease in investment returns[25] - The net cash flow from investment activities was 981,353,577.28, a turnaround from a negative cash flow of -144,742,977.46 in the previous period, showcasing improved investment management[25] - Cash outflow from financing activities was 2,055,690.69, a decrease from 37,188,965.37 in the previous period, reflecting reduced financing costs[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,346,652,897.59, a slight decrease of 0.39% from CNY 5,367,768,357.56 at the end of the previous year[5] - Non-current assets totaled CNY 2,149,851,249.59, an increase from CNY 1,779,566,059.30 year-over-year[17] - Total liabilities decreased to CNY 484,682,346.50 from CNY 570,823,719.82 in the previous period[17] - Total equity increased to CNY 4,861,970,551.09 from CNY 4,796,944,637.74 year-over-year[17] Research and Development - Research and development expenses totaled CNY 19,388,484.13, representing 8.40% of operating revenue, a decrease of 0.78 percentage points from 9.18%[5] - Research and development expenses for Q1 2025 were CNY 19,388,484.13, down from CNY 21,554,957.60 in Q1 2024[20] - The company plans to continue focusing on R&D and market expansion strategies to enhance its competitive position in the semiconductor industry[4] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,331[8] - The largest shareholder, Beijing Youyan Ais Semiconductor Technology Co., Ltd., holds 30.84% of the shares, totaling 384,750,000 shares[9] - The company’s major shareholders include China Research Institute of Technology with 230,422,500 shares, representing a significant ownership stake[10] Strategic Initiatives - The company has signed a cooperation agreement with Fujian Cangyuan Investment Co., Ltd., indicating a strategic partnership[11] - The company plans to acquire 70% of DG Technologies for a total consideration of JPY 119,138.82 million (approximately RMB 5,846.97 million), which is not classified as a major asset restructuring[12] Investment and Market Conditions - The company emphasizes the importance of monitoring investment risks associated with ongoing acquisitions and market fluctuations[13] - The company’s total assets and liabilities will be further detailed in the upcoming financial reports, with ongoing assessments of market conditions[13] Other Financial Metrics - The weighted average return on equity was 1.12%, down 0.23 percentage points from 1.35%[4] - The company reported non-recurring gains of CNY 14,816,911.24 for the period, after accounting for tax and minority interests[7] - The company reported an investment loss of CNY 1,387,835.50 in Q1 2025, compared to a gain of CNY 2,782,495.92 in Q1 2024[20] - Cash received from sales of goods and services in Q1 2025 was CNY 169,111,416.25, slightly down from CNY 170,618,930.96 in Q1 2024[24] - The cash paid for purchasing goods and services was 42,365,067.68, significantly lower than 102,743,977.74 in the previous period, indicating cost control measures[25] - The cash paid for fixed assets and other long-term assets was 17,275,322.86, compared to 21,184,235.15 previously, reflecting a decrease in capital expenditures[25] - The impact of exchange rate changes on cash and cash equivalents was 435,925.29, an increase from 18,899.77, indicating favorable currency movements[27]