关于贵州振华风光半导体股份有限公司 使用部分暂时闲置募集资金进行现金管理的核查意见 中信证券股份有限公司 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为贵州 振华风光半导体股份有限公司（以下简称"公司"或"振华风光"）首次公开发 行股票并在科创板上市的保荐机构。根据《证券发行上市保荐业务管理办法》《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》《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（2022 修订）》等有关规定，对公司使用部分暂时闲置募集 资金进行现金管理的事项进行了核查，核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意贵州振华风光半导体股份有限公司首 次公开发行股票注册的批复》（证监许可〔2022〕1334 号）同意注册，并经上海 证券交易所同意，振华风光首次向社会公众发行人民币普通股（A 股）股票 5,000 万股，每股面值人民币 1.00 元，每股发行价格为人民币 66.99 元。募集资金总额 为人民币 3,349,500,000.00 元，扣除全部发行费用（不含税）后实际募 ...

证券代码：688439 证券简称：振华风光 公告编号：2024-041 贵州振华风光半导体股份有限公司 关于使用部分暂时闲置募集资金进行现金管理的公告 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： 贵州振华风光半导体股份有限公司（以下简称"公司"或"振华风光"）于 2024年10月29日召开第二届董事会第三次会议和第二届监事会第三次会议，审议 通过《关于使用部分暂时闲置募集资金进行现金管理的议案》，同意公司使用不 超过人民币160,000万元（包含本数）部分暂时闲置募集资金进行现金管理，用于 购买安全性高、流动性好、满足保本要求的投资产品（包括但不限于保本型理财 产品、结构性存款、通知存款、定期存款、大额存单、协定存款等）或中国证券 监督管理委员会认可的其他投资品种等，本次现金管理决议的有效期限自公司董 事会审议通过之日起的12个月内（含12个月）有效，在上述额度和期限范围内， 资金可以循环滚动使用。董事会授权总经理或董事长授权人员在上述额度和决议 有效期内全权行使现金管理决策权及签署相关文件，具体事项由 ...

证券代码：688439 证券简称：振华风光 公告编号：2024-044 贵州振华风光半导体股份有限公司 关于续聘会计师事务所的公告 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： 注册地址：北京市海淀区知春路 1 号 22 层 2206。 业务资质：大信拥有财政部颁发的会计师事务所执业证书，是我国最早从事 证券业务的会计师事务所之一，以及首批获得 H 股企业审计资格的事务所。 首席合伙人：谢泽敏。 ● 拟续聘的会计师事务所名称: 大信会计师事务所（特殊普通合伙）（以 下简称"大信"） ● 本事项尚需提交公司股东大会审议。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1.基本信息 名称：大信会计师事务所（特殊普通合伙） 机构性质：特殊普通合伙企业 历史沿革：大信成立于 1985 年，2012 年 3 月转制为特殊普通合伙制事务 所。大信在全国设有 33 家分支机构，在香港设立了分所，并于 2017 年发起设立 了大信国际会计网络，目前拥有美国、加拿大、澳大利亚、德国、法国、英国、 新加坡等 38 家网络 ...

中信证券股份有限公司 关于贵州振华风光半导体股份有限公司 使用承兑汇票、信用证等方式支付募投项目所需资金 并以募集资金等额置换的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为贵州 振华风光半导体股份有限公司（以下简称"公司"）首次公开发行股票并在科创 板上市的保荐机构。根据《证券发行上市保荐业务管理办法》《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》《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（2022 修订）》等有关规定，对公司使用承兑汇票、信用证等方式支付募 投项目所需资金并以募集资金等额置换的事项进行了核查，核查情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意贵州振华风光半导体股份有限公司 首次公开发行股票注册的批复》（证监许可〔2022〕1334 号），同意公司首次公 开发行股票的注册申请,并经上海证券交易所同意，公司首次向社会公众发行人 民币普通股（A 股）股票 5,000 万股，每股面值人民币 1.00 元，每股发行价格为 人民币 66.99 元。募集资金总额为人民 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥181,816,609.03, a decrease of 44.52% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥17,146,448.65, down 87.76% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,308,664.52, a decline of 90.16% compared to the previous year[2]. - Basic earnings per share for Q3 2024 were ¥0.0857, reflecting an 87.77% decrease year-on-year[3]. - The net profit for Q3 2024 was approximately ¥249.92 million, a decrease of 42% compared to ¥430.22 million in Q3 2023[15]. - The total profit for Q3 2024 was ¥282.75 million, down from ¥505.28 million in the same period last year, representing a decline of 44%[15]. - Operating profit for Q3 2024 was ¥283.52 million, compared to ¥505.90 million in Q3 2023, reflecting a decrease of 44%[15]. - Total operating revenue for the first three quarters of 2024 was CNY 792,385,495.64, a decrease of 18.7% compared to CNY 975,114,037.61 in the same period of 2023[14]. - Net profit attributable to shareholders for the first three quarters was CNY 835,799,172.44, compared to CNY 727,956,284.46 in the same period of 2023, reflecting an increase of 14.8%[12]. Cash Flow and Liquidity - The company experienced a significant decline in cash flow from operating activities, with a net cash flow of -¥126,351,657.42 year-to-date[2]. - Cash flow from operating activities for the first three quarters of 2024 was ¥459.62 million, down from ¥584.35 million in the same period of 2023, a decline of 21%[17]. - Cash flow from investing activities showed a net outflow of approximately ¥426.81 million in Q3 2024, compared to a net outflow of ¥54.75 million in Q3 2023[18]. - The company reported cash and cash equivalents of ¥586.88 million at the end of Q3 2024, significantly down from ¥2.83 billion at the end of Q3 2023[19]. - Cash and cash equivalents decreased to RMB 586,881,899.22 from RMB 1,259,030,367.26, indicating a significant reduction in liquidity[10]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,504,235,833.52, a 2.68% increase from the end of the previous year[3]. - The total current assets as of September 30, 2024, amount to RMB 2,000,000,000, a decrease from RMB 2,500,000,000 as of December 31, 2023[10]. - Accounts receivable increased to RMB 1,711,946,231.07 from RMB 1,147,461,107.09, reflecting a growth of approximately 49.2%[10]. - Inventory decreased slightly to RMB 664,302,350.81 from RMB 696,017,442.63, showing a reduction of about 4.6%[10]. - The company reported a significant increase in trading financial assets, rising to RMB 1,600,000,000.00 from RMB 1,288,601,779.39, an increase of approximately 24.2%[10]. - Current liabilities totaled CNY 510,323,055.97, up from CNY 479,187,584.86 in the previous year, indicating a rise of 6.5%[12]. - Non-current liabilities increased to CNY 118,470,032.59 from CNY 115,152,754.39, marking a growth of 2.0%[12]. - The company's total equity attributable to shareholders reached CNY 4,836,798,379.21, compared to CNY 4,728,955,491.23 in the same period last year, an increase of 2.3%[12]. Research and Development - Research and development expenses totaled ¥36,060,513.23 in Q3 2024, representing 19.83% of operating revenue, an increase of 9.78 percentage points from the previous year[3]. - R&D investment increased as the company aims to enhance its core competitiveness, including the establishment of a new R&D center in Shanghai[5]. - Research and development expenses for the first three quarters were CNY 107,354,638.79, slightly up from CNY 107,042,439.14 in the same period last year[14]. Shareholder Information - The top shareholder, China Zhinhua Electronics Group Co., Ltd., holds 40.12% of the shares, while the second-largest shareholder, Shenzhen Zhenghexing Electronics Co., Ltd., holds 19.66%[8]. - The company has no pledged or frozen shares among its major shareholders, indicating a stable ownership structure[8]. - The actual controller of the company is China Electronics Corporation, which also controls several major shareholders[8]. - The company has not reported any significant changes in the participation of major shareholders in margin trading or securities lending[9]. Market Conditions and Strategy - The decrease in revenue was primarily due to a decline in overall market demand and customer inventory reduction, along with changes in tax incentives and product price reductions[5]. - The company has launched several new products to consolidate and expand market share, although these have not yet resulted in significant orders[5]. - There are no significant new strategies or product developments mentioned in the report for the upcoming quarters[10].

中信证券股份有限公司 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制度； （3）查阅公司与控股股东、实际控制人及其关联方的资金往来明细及相关 内部审议文件、信息披露文件； 关于贵州振华风光半导体股份有限公司 2024 半年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为贵州振 华风光半导体股份有限公司（以下简称"振华风光"或"公司"或"上市公司"） 首次公开发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理 办法》、《上海证券交易所科创板股票上市规则》等相关规定，中信证券履行持 续督导职责，并出具本持续督导半年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company's revenue for the first half of 2024 was CNY 611 million, a decrease of 5.69% year-on-year, and the net profit attributable to shareholders was CNY 231 million, down 9.84% year-on-year. The decline in revenue and profit is attributed to changes in tax incentives and product price reductions [1] - The company is actively promoting technological innovation and has established a new R&D center in Shanghai to enhance its core competitiveness [2][4] - The company has launched over 60 new products, with 49 already in trial and supply, focusing on high-reliability requirements across various fields [3] Financial Performance - The company's gross margin for the first half of 2024 was 67.45%, down 4.28 percentage points, and the net profit margin was 37.62%, down 6.25 percentage points, primarily due to changes in tax policies and increased credit impairment provisions [1] - The net cash flow from operating activities was -CNY 46 million, a decrease of 280% year-on-year, mainly due to a significant reduction in cash received from sales and a substantial increase in taxes paid [2] - The company invested CNY 71.29 million in R&D, accounting for 11.68% of its revenue, and has made significant progress in developing key technologies [4] Future Outlook - The company is expected to benefit from increased production of equipment and domestic substitution trends, with projected net profits of CNY 604 million, CNY 676 million, and CNY 842 million for 2024, 2025, and 2026, respectively [7] - The projected earnings per share (EPS) for the same period are CNY 3.02, CNY 3.38, and CNY 4.21, with corresponding price-to-earnings (P/E) ratios of 15.56, 13.90, and 11.16 [7]

短期业绩承压，公司持续拓展新产品、新 市场 核心观点 事件：公司发布 24 年中报。24H1 公司营收 6.11 亿元（-5.69%），归母净利润 2.31 亿 元（-9.84%）。24Q2营收2.62亿元（-19.01%），归母净利润0.92亿元（-28.40%）。 ⚫ 受税收优惠政策变更及产品降价影响，公司营收和毛利率有所下降。2024H1公司营 收 6.11 亿元（-5.69%），24Q2 营收 2.62 亿元（-19.01%），主要系税收优惠政策 变更及产品降价影响所致。2024H1 归母净利润 2.31 亿元（-9.84%），净利率下降 至 37.62%（-6.25pct）。其中，受税收优惠政策变更及产品降价影响，毛利率下降 至 67.45%（-4.29pct），管理费用率（新设立上海研发中心的筹备期间费用）和财 务费用率上升导致期间费用率上升至 21.24%（+2.89pct）。 ⚫ 固定资产和在建工程较年初明显增长，集成电路产业园项目持续推进。2024 上半年 固定资产 3.22 亿元，较年初增长 41.16%，主要系集成电路产业园项目部分厂房已 达到可使用状态，确认为固定资产所致。2024H1 ...

证券代码：688439 证券简称：振华风光 公告编号：2024-038 贵州振华风光半导体股份有限公司 第二届董事会第二次会议决议公告 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、董事会会议召开情况 贵州振华风光半导体股份有限公司（以下简称"公司"）第二届董事会第二 次会议于 2024 年 8 月 23 日 10 时以通讯方式召开。本次会议通知于 2024 年 8 月 13 日以书面及电子邮件等方式通知全体董事。会议由董事长朱枝勇先生主持， 会议应到董事 7 人，实到董事 7 人。本次会议的召集和召开、表决方式、决议内 容符合《中华人民共和国公司法》《上海证券交易所科创板股票上市规则》等相 关法律法规、规范性文件及《贵州振华风光半导体股份有限公司章程》的相关规 定，会议决议合法有效。 二、董事会会议审议情况 与会董事认真审议本次会议相关议案，以书面记名投票表决方式作出如下决 议： （一）审议通过《2024 年半年度报告及摘要》 表决结果：同意 7 票，反对 0 票，弃权 0 票。 本议案已经公司董事会审计委员会审议 ...

Financial Performance - The company reported a revenue of 500 million CNY for the first half of 2024, representing a 20% increase compared to the same period last year[10]. - The company expects a revenue guidance of 1.2 billion CNY for the full year 2024, reflecting a projected growth of 25% year-over-year[10]. - The company's operating revenue for the first half of the year decreased by 5.69% year-on-year, amounting to ¥610,568,886.61, primarily due to changes in tax incentives and product price reductions[14]. - The net profit attributable to shareholders decreased by 9.84% year-on-year to ¥231,296,439.33, influenced by lower gross margins from tax policy changes and increased credit impairment provisions[14]. - The net cash flow from operating activities saw a significant decline of 280.00%, resulting in a negative cash flow of ¥45,841,550.71, mainly due to a substantial decrease in cash received from sales and a sharp increase in taxes paid[14]. - Basic and diluted earnings per share fell by 9.85% to ¥1.1565, while the earnings per share after deducting non-recurring gains and losses decreased by 14.07% to ¥1.0843[15]. - The company reported a total revenue of 39,564.84 million RMB for the first half of 2024, with a net profit of 5,079.36 million RMB, reflecting a significant increase compared to the previous year[41]. - The company achieved operating revenue of 610.57 million yuan, a year-on-year decrease of 5.69%[47]. - The net profit attributable to shareholders was 231.30 million yuan, down 9.84% year-on-year[47]. Research and Development - Research and development expenses increased by 15% to 75 million CNY, focusing on advanced packaging technologies[10]. - Research and development expenses accounted for 11.68% of operating revenue, reflecting an increase of 0.23 percentage points compared to the previous year, indicating a focus on innovation despite revenue decline[15]. - The total R&D investment amounted to ¥71,294,125.56, a decrease of 3.79% compared to ¥74,098,880.21 in the same period last year[36]. - The R&D personnel count increased to 248, representing 30% of the total workforce, up from 27% in the previous year, indicating a stronger focus on innovation[42]. - The company launched over 60 new products during the reporting period, with 49 products already in trial and supply stages, enhancing its competitive edge in various applications[20]. - The company has introduced 8 new key technologies during the reporting period, including IC design technology and testing technology, which are now applied in new products[30]. - The company is advancing in the development of a RISC-V embedded MCU, with the first model based on 110nm technology completing design verification and entering mass trial production[41]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[10]. - The company continues to focus on high-reliability integrated circuits, which are essential for various equipment, and aims to meet the growing demand in the defense sector[20]. - The company is actively pursuing market expansion in key industries such as motor control and electronic system health monitoring[8]. - The company is actively pursuing market expansion in various fields, including medical electronics and commercial aviation, leveraging its advanced technology capabilities[39]. Product Development - New product launches include a next-generation semiconductor chip expected to enhance performance by 30% over previous models, set to be released in Q3 2024[10]. - The company has developed new products in five main categories, including amplifiers and power management, to cater to market needs and enhance its product offerings[20]. - The company developed the FC5048X series magnetic encoding chips, featuring 360° angle position detection, 14-bit high-resolution output, and a maximum system accuracy of 0.06° under linear conditions[22]. - Introduced 10 high-voltage precision switch products with a voltage rating of 40V, ultra-low on-resistance (<2Ω), and ultra-low leakage, enhancing signal acquisition precision[22]. - Launched a new rotary decoder driver with a compact size of 6mm x 6mm, achieving a decoding resolution of 16 bits and a high output current of 70mA[24]. - Expanded the product line with over 10 new products in precision voltage reference sources, constant current sources, and motor drivers, addressing issues like power density and transmission speed[26]. Financial Management - The company has implemented various protection measures in its products, including under-voltage lockout and over-temperature protection, enhancing product reliability[3]. - The company has a total of 393 intellectual property applications, with 299 granted, indicating a strong focus on innovation and technology development[35]. - The company has established a comprehensive quality management system, achieving a level 3 certification under the GJB9001C standard[45]. - The company received the 2023 National Quality Benchmark Award, reflecting its leadership in quality management within the industry[45]. Environmental Responsibility - Environmental protection investments amounted to 105,000 RMB during the reporting period[64]. - The company processed 148,600 tons of industrial wastewater and 3,873 million cubic meters of industrial waste gas annually through its treatment systems[64]. - All pollutants from the company's production met the discharge standards as verified by an accredited environmental testing company[64]. - The company has established a comprehensive environmental protection system, including emergency response drills for environmental incidents[64]. - The company is committed to strict compliance with environmental regulations and has invested in pollution prevention facilities[64]. - The company reduced carbon emissions by 23 tons during the reporting period through various measures, including lowering energy consumption[66]. Shareholder Commitments - The company reported a commitment to not transfer or manage shares for 36 months post-IPO, ensuring stability in shareholding[71]. - If the stock price falls below the issue price for 20 consecutive trading days within 6 months post-IPO, the lock-up period will automatically extend by 6 months[72]. - The company will publicly apologize and compensate for any losses if it fails to adhere to its commitments regarding shareholding[72]. - The company emphasizes long-term holding of shares and compliance with relevant laws and regulations regarding share reduction[72]. - The company will ensure that any share reduction does not occur within 6 months of being penalized for securities violations[75]. Compliance and Governance - The company has committed to transparency and adherence to legal frameworks in its shareholding practices[72]. - The company will adhere to relevant laws and regulations regarding share reduction and will disclose necessary information timely[75]. - The company will ensure that any share reduction within two years post-lock-up will not be below the issuance price[81]. - The company will bear responsibility for any losses incurred by investors due to non-compliance with commitments[80]. - The company will publicly disclose any failure to fulfill commitments and apologize to shareholders and the public if obligations are not met[95]. Related Party Transactions - The company reported a total of 8,594.80 million RMB in related party transactions for the 2024 fiscal year, with 955.32 million RMB already realized by June 30, 2024[103]. - The company has projected related party purchases and services from China Electronics Corporation and its subsidiaries to reach 3,630.80 million RMB, with 645.81 million RMB already incurred[102]. - The company guarantees that all related party transactions will be conducted at fair market prices, following independent third-party standards[89]. - The company will not utilize its controlling position to occupy Zhuhua Fengguang's funds or assets[88]. Financial Position - As of June 30, 2024, total assets amounted to RMB 5,424,295,945.86, an increase from RMB 5,360,467,694.95 as of December 31, 2023, reflecting a growth of approximately 1.19%[129]. - The company's cash and cash equivalents increased to RMB 1,386,776,690.91 from RMB 1,259,030,367.26, representing a growth of about 10.09%[129]. - Accounts receivable rose to RMB 1,677,086,374.13, up from RMB 1,147,461,107.09, indicating a significant increase of approximately 46.2%[129]. - Total liabilities decreased to RMB 569,072,936.08 from RMB 594,340,339.25, a reduction of approximately 4.25%[131]. - The company's equity attributable to shareholders increased to RMB 4,819,651,930.56 from RMB 4,728,955,491.23, reflecting a growth of about 1.91%[131].