Market Overview - The global semiconductor wafer market is projected to reach approximately $11.5 billion in sales in 2024, with a shipment area of 12,266 million square inches, reflecting a year-on-year decline of 2.7%, marking a recent low [2][3] - The domestic semiconductor wafer market in China is expected to be around 15 billion yuan in 2024, with significant growth in 300mm wafer shipments, particularly from companies like Shanghai Xinsheng, which saw over 70% year-on-year growth [2][3] Industry Trends - By 2027, the demand for silicon wafers is anticipated to grow robustly due to increasing needs related to artificial intelligence and advanced processes, with domestic companies like SMIC and Huahong Group planning clear capacity expansions [3][4] - The 300mm wafer segment is expected to dominate, with global sales projected at around $8.5 billion in 2024, accounting for over 70% of the market, and a domestic market size of approximately 7.5 billion yuan, with a growth rate exceeding 50% [4][5] Pricing Dynamics - In 2024, the pricing of semiconductor wafers is expected to show a divergence, with 300mm wafers remaining stable due to demand from AI and storage chips, while prices for 200mm and smaller wafers are under pressure, with 200mm epitaxial wafer prices dropping over 15% [5][6] - Major players like Shin-Etsu Chemical and SUMCO are controlling production to maintain high margins, while domestic companies are aggressively expanding capacity and pricing their products 10%-15% lower than international competitors [7][8] Financial Performance - In 2024, the total revenue of listed companies in the silicon wafer industry is projected to be approximately 13.453 billion yuan, reflecting a year-on-year growth of 10.58%, with an average gross margin of about 21.14% [10][11] - TCL Zhonghuan and Huahong Group are leading in revenue, with TCL Zhonghuan generating 4.687 billion yuan and Huahong Group 3.388 billion yuan [11] Stock Market Performance - The silicon wafer industry experienced a turbulent stock market in 2024, with an overall decline of 25.13% by year-end compared to the beginning of the year, and a maximum drawdown of 41.51% [14][16] - Huahong Group was the only company to see a slight increase in market value, while TCL Zhonghuan and Shen Gong Co. faced significant declines of 41.41% and 33.55%, respectively [16][17]

证券代码：688432 证券简称：有研硅 公告编号：2025-024 有研半导体硅材料股份公司 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： ? 是否涉及差异化分红送转：是 ? 每股分配比例 每股现金红利0.06元 ? 相关日期 股权登记日 除权（息）日 现金红利发放日 一、通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 4 月 25 日的2024年年度股东会审议通过。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 有研半导体硅材料股份公司（以下简称"公司"）回购专用证券账户除外。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所 上市公司自律监管指引第 7 号——回购股份》等相关法律、行政法规、部门规章 及其他规范性文件以及《公司章程》的有关规定，公司回购的股份不享有股东会 表决权、利润分配、公积金转增股本、认购新股等权利。 （1）本次差异化分红送转方案 ...

中信证券股份有限公司 关于有研半导体硅材料股份公司 差异化分红事项的核查意见 中信证券股份有限公司（以下简称"中信证券"）作为有研半导体硅材料股 份公司（以下简称"有研硅"或"公司"）首次公开发行股票并在科创板上市的 保荐机构和持续督导机构，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》）、《上海证券交易所上市公司自 律监管指引第 7 号——回购股份》等有关法律法规和规范性文件的要求，对有研 硅 2024 年度利润分配所涉及的差异化分红（以下简称"本次差异化分红"）进行 了审慎核查，具体情况如下： 一、本次差异化分红的原因 2024 年 2 月 21 日，公司披露了《有研半导体硅材料股份公司关于以集中竞 价交易方式回购公司股份暨公司落实"提质增效重回报"行动方案的公告》（公告 编号：2024-007）。公司为践行"以投资者为本"的上市公司发展理念，维护公司全 体股东利益，推动公司"提质增效重回报"，拟通过上海证券交易所以集中竞价交 易方式回购公司已发行的部分人民币普通股（A 股）股份，用于维护公司价值及 股东权益或在未来适宜时机用于股权激励、员工持股计划。 ...

证券代码：688432 证券简称：有研硅 公告编号：2025-024 有研半导体硅材料股份公司 2024年年度权益分派实施公告 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： 每股现金红利0.06元 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/24 | 2025/6/25 | 2025/6/25 | 一、通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 4 月 25 日的2024年年度股东会审议通过。 二、分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 有研半导体硅材料股份公司（以下简称"公司"）回购专用证券账户除外。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所 上市公司自律监管指引第 7 号——回购股份》等相关法律、行政法规、部门 ...

Core Viewpoint - Youyan Silicon has terminated its major asset restructuring plan to acquire approximately 60% of the shares of Gaofeng (Beijing) Technology Co., Ltd. due to failure to reach consensus on certain commercial terms [1][2] Group 1: Transaction Details - The transaction was initially announced on March 5, 2025, with the intention to pay cash for the acquisition [1] - The termination agreement was signed after thorough discussions and negotiations among the parties involved [1][2] - The target company specializes in ultra-pure water systems for chip manufacturing and has developed core technologies in this field, aiming for domestic substitution of foreign technologies [2] Group 2: Financial Performance - Youyan Silicon's net profit has been declining for two consecutive years, with a reported revenue of 960.40 million yuan in 2023, down 18.29% year-on-year [4] - The net profit attributable to shareholders was 254.18 million yuan in 2023, a decrease of 27.65% [4] - In 2024, the company reported a total revenue of 995.95 million yuan, a year-on-year increase of 3.70%, but the net profit still declined by 8.37% to 232.90 million yuan [4] Group 3: Initial Public Offering (IPO) Information - The company raised a total of 1.85 billion yuan from its IPO, with a net amount of 1.66 billion yuan after deducting issuance costs [3] - The IPO was conducted on November 10, 2022, with 187,143,158 shares issued at a price of 9.91 yuan per share [2][3] - The funds raised were intended for projects related to the production of 8-inch silicon wafers and other operational needs [3]

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]