Core Viewpoint - The company has appointed a new signing auditor for the 2025 fiscal year due to internal adjustments at the auditing firm, which will not adversely affect the audit process [1][2]. Group 1: Appointment of Auditor - The company has approved the appointment of Tianjian Accounting Firm as the auditing institution for the 2025 fiscal year during board meetings held on April 9 and May 8, 2025 [1]. - The signing auditors for the 2025 financial statement audit were originally Mr. Wei Jun and Ms. Xue Yan, but Mr. Hu Youlin has been appointed to replace Mr. Wei Jun due to internal adjustments at Tianjian [1][2]. Group 2: Auditor's Background - Mr. Hu Youlin has been a certified public accountant since September 2007 and has been practicing at Tianjian since then, starting to provide audit services for the company in 2025 [2]. - In the past three years, Mr. Hu has signed audit reports for several listed companies, including Dali Kape, Changling Hydraulic, Wuxi Zhenhua, and Dingsheng New Materials [2]. - Mr. Hu has not faced any criminal or administrative penalties, supervisory measures, or disciplinary actions related to his professional conduct in the last three years [2]. Group 3: Impact on the Company - The transition of responsibilities during the change of signing auditors has been orderly, and the change will not negatively impact the company's 2025 financial statement audit and internal control audit for the year-end report [2].

Core Viewpoint - The company will participate in a collective performance briefing for the semiconductor equipment and materials industry on September 10, 2025, to provide investors with insights into its operational results and financial status for the first half of 2025 [1]. Group 1: Meeting Details - Meeting Date and Time: September 10, 2025, from 15:00 to 17:00 [2] - Meeting Location: Shanghai Stock Exchange Roadshow Center [2] - Meeting Format: Online text interaction Q&A [3] Group 2: Participants - Key attendees include the Chairman and General Manager Mr. Chen Gang, Vice General Manager Mr. Chen Dongqiang, Board Secretary Mr. Chen Lifeng, Financial Officer Ms. Sun Lin, and Independent Directors Mr. Yu Weiping, Ms. Xu Jing, and Mr. Shi Jianbin [2]. Group 3: Investor Participation - Investors can log in to the Shanghai Stock Exchange Roadshow Center on September 10, 2025, to participate in the performance briefing and ask questions [2][3]. - Investors can submit questions from September 3 to September 9, 2025, through the Roadshow Center website or via the company's contact methods [3]. Group 4: Additional Information - After the briefing, investors can view the meeting's details and main content on the Shanghai Stock Exchange Roadshow Center [4].

二、说明会召开的时间、地点和方式 证券代码：688549 证券简称：中巨芯 公告编号：2025-033 中巨芯科技股份有限公司 关于参加 2025 年半年度科创板半导体设备及 材料行业集体业绩说明会的公告 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： 一、说明会类型 中巨芯科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 27 日在上 海证券交易所网站（www.sse.com.cn）披露了《中巨芯科技股份有限公司 2025 年半年度报告》。为便于广大投资者更加全面深入地了解公司 2025 年半年度的 会议召开时间：2025 年 9 月 10 日（星期三）15:00-17:00 会议召开地点：上海证券交易所上证路演中心 （https://roadshow.sseinfo.com/） 会议召开方式：网络文字互动问答 会议问题征集：投资者可于 2025 年 9 月 3 日（星期三）至 9 月 9 日（星 期二）16:00 前登录上证路演中心网站首页，点击"提问预征集"栏目 （https://roa ...

证券代码：688549 证券简称：中巨芯 公告编号：2025-034 中巨芯科技股份有限公司 关于变更签字注册会计师的公告 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。 中巨芯科技股份有限公司（以下简称"公司"）于2025年4月9日、2025年5 月8日分别召开第二届董事会第六次会议、2024年年度股东大会，审议通过了 《关于续聘会计师事务所的议案》，同意聘请天健会计师事务所（特殊普通合 伙）（以下简称"天健所"）为公司2025年度审计机构，具体内容详见公司于 2025年4月11日在上海证券交易所网站（www.sse.com.cn）披露的《关于续聘会 计师事务所的公告》（公告编号：2025-009）和公司于2025年5月9日在上海证 券交易所网站（www.sse.com.cn）披露的《2024年年度股东大会决议公告》 （公告编号：2025-016）。 近日，公司收到天健所出具的《关于变更签字注册会计师的函》，现将具 体情况公告如下： 一、本次变更基本情况 天健所作为公司聘任的2025年度审计机构，原委派签字注册会计师韦军 ...

Core Viewpoint - Zhongjuxin (688549) reported a total revenue of 567 million yuan for the first half of 2025, reflecting a year-on-year increase of 20.4%, while the net profit attributable to shareholders decreased by 64.57% to 8.14 million yuan [1] Financial Performance - The company's total revenue for Q2 2025 was 296 million yuan, up 24.95% year-on-year, but the net profit attributable to shareholders fell by 39.41% to 9.32 million yuan [1] - Gross margin stood at 11.47%, down 20.14% year-on-year, and net margin was 1.03%, a decrease of 80.06% [1] - Total selling, administrative, and financial expenses amounted to 21.62 million yuan, representing 3.82% of revenue, an increase of 28.16% year-on-year [1] - Earnings per share (EPS) was 0.01 yuan, down 64.52% year-on-year, while operating cash flow per share was 0.05 yuan, an increase of 86.75% [1] Debt and Cash Flow - The company has a significant amount of accounts receivable, with accounts receivable to net profit ratio reaching 2757.46% [1][3] - The average operating cash flow over the past three years is only 18.61% of current liabilities, indicating potential cash flow concerns [3] Business Model and Investment Returns - The company's historical return on invested capital (ROIC) is poor, with a median ROIC of -0.02% since its listing, and the worst year being 2018 with a ROIC of -5.27% [2] - The business model relies heavily on R&D, marketing, and capital expenditures, necessitating careful evaluation of capital spending projects [2]

Group 1 - Youyou Food achieved a net profit of 108 million yuan in the first half of 2025, a year-on-year increase of 42.47%, with a revenue of 771 million yuan, up 45.59% [1] - Keda achieved a net profit of 255 million yuan, a year-on-year increase of 16.49%, with a revenue of 2.163 billion yuan, up 14.35% [1] - North Navigation turned a profit with a net profit of 116 million yuan, achieving a revenue of 1.703 billion yuan, a year-on-year increase of 481.19% [1][2] Group 2 - China Satellite Communication reported a net profit of 181 million yuan, a year-on-year decrease of 55.59%, with a revenue of 1.221 billion yuan, up 6.33% [3] - Huqin Technology achieved a net profit of 1.889 billion yuan, a year-on-year increase of 46.3%, with a revenue of 83.939 billion yuan, up 113.06% [4] - Huasen Lithium reported a net loss of 72.739 million yuan, with a revenue of 350 million yuan, up 72.02% [4] Group 3 - Putailai achieved a net profit of 1.055 billion yuan, a year-on-year increase of 23.03%, with a revenue of 7.088 billion yuan, up 11.95% [5] - Suochen Technology reported a net loss of 45.698 million yuan, with a revenue of 57.351 million yuan, up 10.82% [5] - Canqin Technology achieved a net profit of 51.912 million yuan, a year-on-year increase of 51.94%, with a revenue of 287 million yuan, up 52.76% [6] Group 4 - Hengtong achieved a net profit of 99.3648 million yuan, a year-on-year increase of 38.86%, with a revenue of 669 million yuan, down 44.66% [6] - Sanan Optoelectronics reported a net profit of 176 million yuan, a year-on-year decrease of 4.24%, with a revenue of 8.987 billion yuan, up 17.03% [7] - New Dairy achieved a net profit of 397 million yuan, a year-on-year increase of 33.76%, with a revenue of 5.526 billion yuan, up 3.01% [8] Group 5 - Yiling Pharmaceutical achieved a net profit of 669 million yuan, a year-on-year increase of 26.03%, with a revenue of 4.040 billion yuan, down 12.26% [10] - Baosteel achieved a net profit of 4.879 billion yuan, a year-on-year increase of 7.36%, with a revenue of 151.372 billion yuan, down 7.28% [12] - Feikai Materials achieved a net profit of 217 million yuan, a year-on-year increase of 80.45%, with a revenue of 1.462 billion yuan, up 3.8% [13] Group 6 - Lier Chemical achieved a net profit of 271 million yuan, a year-on-year increase of 191.21%, with a revenue of 4.507 billion yuan, up 35.36% [15] - Shaanxi Coal achieved a net profit of 7.638 billion yuan, a year-on-year decrease of 31.18%, with a revenue of 779.83 billion yuan, down 14.19% [16] - Dongfang Materials reported a net profit of 654,400 yuan, a year-on-year decrease of 88.48%, with a revenue of 174 million yuan, down 5.06% [18] Group 7 - Blue Sky Bio achieved a net profit of 26.7163 million yuan, a year-on-year decrease of 8.98%, with a revenue of 652 million yuan, up 7.05% [19] - Shanghai Jiubai achieved a net profit of 23.7897 million yuan, a year-on-year increase of 0.24%, with a revenue of 45.0535 million yuan, down 1.09% [20] - Two Sides Needle reported a net loss of 5.0842 million yuan, with a revenue of 522 million yuan, up 1.02% [21] Group 8 - Shanghai Yashi achieved a net profit of 20.3263 million yuan, a year-on-year increase of 42.56%, with a revenue of 2.044 billion yuan, up 56.75% [23] - Bayi Steel reported a net loss of 697 million yuan, with a revenue of 8.733 billion yuan, down 6.73% [25] - Hongrun Construction plans to repurchase shares worth between 150 million and 300 million yuan [27] Group 9 - Kaile achieved a net profit of 10.9193 million yuan, a year-on-year increase of 280.42%, with a revenue of 137 million yuan, down 17.89% [28] - Jingda achieved a net profit of 306 million yuan, a year-on-year increase of 6.03%, with a revenue of 11.856 billion yuan, up 14.28% [29] - Blue Light Marker reported a net profit of 96.4427 million yuan, a year-on-year decrease of 47.33%, with a revenue of 32.36 billion yuan, up 4.87% [30] Group 10 - KOTAI Power achieved a net profit of 23.994 million yuan, a year-on-year increase of 35.52%, with a revenue of 711 million yuan, up 49.51% [33] - Bo Rui Data reported a net loss of 26.1918 million yuan, with a revenue of 70.1997 million yuan, up 5.19% [34] - Jiuzhoutong achieved a net profit of 1.446 billion yuan, a year-on-year increase of 19.7%, with a revenue of 81.106 billion yuan, up 5.10% [37] Group 11 - Aier Eye Hospital achieved a net profit of 2.051 billion yuan, a year-on-year increase of 0.05%, with a revenue of 11.507 billion yuan, up 9.12% [39] - Nandu Property achieved a net profit of 130 million yuan, a year-on-year increase of 532.87%, with a revenue of 914 million yuan, up 2.75% [41] - Weiyuan reported a net loss of 168 million yuan, with a revenue of 4.601 billion yuan, up 1.82% [42] Group 12 - Zhongke Chuangda achieved a net profit of 158 million yuan, a year-on-year increase of 51.84%, with a revenue of 3.299 billion yuan, up 37.44% [43] - Zhongjuxin reported a net profit of 8.1377 million yuan, a year-on-year decrease of 64.57%, with a revenue of 567 million yuan, up 20.40% [44] - Inspur Information achieved a net profit of 799 million yuan, a year-on-year increase of 34.87%, with a revenue of 80.192 billion yuan, up 90.05% [45] Group 13 - Shenghong Technology achieved a net profit of 2.143 billion yuan, a year-on-year increase of 366.89%, with a revenue of 9.031 billion yuan, up 86.00% [46] - Cambrian achieved a net profit of 1.038 billion yuan, turning a profit, with a revenue of 2.881 billion yuan, up 4347.82% [48] - Longteng Optoelectronics reported a net loss of 121 million yuan, with a revenue of 1.289 billion yuan, down 27.91% [49]

Core Insights - The company reported a total revenue of 567 million yuan for the first half of 2025, representing a year-on-year increase of 20.4% [2][3] - The net profit attributable to shareholders decreased by 64.57% to 8.14 million yuan, while the net profit excluding non-recurring gains and losses fell by 92.24% to 0.97 million yuan [2][3] - The company achieved a turnaround in net profit in the second quarter, moving from a loss to profitability [2] Financial Performance - Total revenue for the first half of 2025 was 567 million yuan, up from 471 million yuan in the same period last year, marking a 20.4% increase [3] - The profit before interest and tax dropped significantly by 80.11% to 5.48 million yuan compared to 27.55 million yuan in the previous year [3] - The net profit attributable to shareholders was 8.14 million yuan, down from 22.97 million yuan, reflecting a decline of 64.57% [3] - The net profit excluding non-recurring gains and losses was 0.97 million yuan, a decrease of 92.24% from 12.48 million yuan [3] - The net cash flow from operating activities increased by 86.75% to 77.12 million yuan, compared to 41.30 million yuan in the previous year [3] Segment Performance - The electronic wet chemical segment generated revenue of 434 million yuan, a year-on-year increase of 25.57% [2][3] - The electronic specialty gases and precursors segment reported revenue of 120 million yuan, up 10.49% from the previous year [2][3] - Sales volume for the electronic wet chemical segment reached 75,600 tons, reflecting a growth of 39.69% [2][3] - The electronic specialty gases and precursors segment sold 1,372.65 tons, which is a 12.45% increase year-on-year [2][3] Product Development and Innovation - The company completed the construction of industrialization facilities for products like BDEAS and initiated the development of various metal and silicon-based precursor products [4] - New product development projects include silicon etching liquids and metal etching liquids, with four products already industrialized and undergoing customer testing [4] - The company received two new invention patents during the reporting period, bringing the total to 70 patents, including 59 invention patents [4]

Investment Rating - The report maintains an "Accumulate" investment rating for the company [3][7]. Core Views - The company achieved a total revenue of 567 million yuan in the first half of 2025, representing a year-on-year increase of 20.40%. However, the net profit attributable to shareholders decreased by 64.57% year-on-year to 8.14 million yuan due to market conditions and increased competition [1][7]. - The electronic wet chemical segment generated revenue of 434.15 million yuan, up 25.57% year-on-year, while the electronic specialty gases and precursors segment saw revenue of 120.42 million yuan, a 10.49% increase year-on-year [7]. - The company is focusing on R&D, with R&D expenses amounting to 40.60 million yuan, which is 7.17% of total revenue, reflecting a 38.70% increase year-on-year [7]. - The company is expected to achieve revenues of 1.29 billion yuan, 1.62 billion yuan, and 1.95 billion yuan in 2025, 2026, and 2027 respectively, with year-on-year growth rates of 26%, 25%, and 20% [7][8]. Financial Data and Valuation - The company’s total revenue is projected to grow from 894 million yuan in 2023 to 1.95 billion yuan in 2027, with corresponding year-on-year growth rates of 12%, 15%, 26%, 25%, and 20% [2][10]. - The net profit attributable to shareholders is expected to increase from 14 million yuan in 2023 to 24 million yuan in 2027, with growth rates of 30%, -27%, 21%, 53%, and 31% respectively [8][11]. - The company’s PE ratios for 2025, 2026, and 2027 are projected to be 1100.2, 718.1, and 548.1 respectively, indicating a valuation above the industry average [7][11]. Stock Performance - The company's stock has shown a 14% absolute performance over the past month, a -1% performance over six months, and a 58% performance over the past year [5].

Core Viewpoint - The company has approved the use of temporarily idle raised funds and self-owned funds for cash management, with a total maximum amount of 1.35 billion yuan [1][4]. Fundraising and Usage - On June 13, 2023, the company received approval from the China Securities Regulatory Commission for its initial public offering, raising a total of 1.913 billion yuan, with a net amount of 1.807 billion yuan after deducting issuance costs [2]. - As of June 30, 2025, the company has disclosed the usage of raised funds in its special report [2]. Previous Cash Management Situation - On September 26, 2024, the company approved the use of up to 1 billion yuan of temporarily idle raised funds and up to 400 million yuan of self-owned funds for cash management, with a validity period of 12 months [3]. Current Cash Management Details - The purpose of the current cash management is to improve the efficiency of using raised and self-owned funds while ensuring the safety of funds and the implementation of investment projects [4]. - The maximum amount for temporarily idle raised funds is set at 750 million yuan, and for self-owned funds, it is 600 million yuan, with a validity period of 12 months starting from September 25, 2025 [4]. - The funds will be used to purchase low-risk cash management products with high safety and liquidity, and the income will be prioritized for supplementing investment amounts and daily operational liquidity [4]. Impact on the Company and Risk Control - The company states that the cash management will not affect the implementation of investment plans and will enhance fund usage efficiency, benefiting both the company and its shareholders [5]. - Various risk control measures will be implemented, including selecting appropriate investment products and adhering to strict disclosure obligations [5].

国泰海通证券股份有限公司 关于中巨芯科技股份有限公司 放弃优先购买权暨关联交易的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为中 巨芯科技股份有限公司（以下简称"中巨芯"或"公司"）首次公开发行股票并 上市持续督导的保荐人，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》《上海证券交易所上市公司自律监管指引第 11 号— —持续督导》《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》等相关法律、法规和规范性文件的规定，对中巨芯放弃优先购买权暨关联 交易的事项进行了核查，核查情况与意见如下： 一、关联交易概述 为更好地实施战略规划及支持日常经营和业务发展，中巨芯持有 49.81%股 权的重要参股子公司晶恒希道（上海）科技有限公司（以下简称"晶恒希道"） 拟通过增资扩股方式引入投资者上海盛芯腾接力私募基金合伙企业（有限合伙） （以下简称"盛芯腾"），盛芯腾拟以现金方式出资人民币 1,800 万元认缴晶恒希 道新增注册资本 1,800 万元。公司、徐州盛芯半导体产业投资基金合伙企业（有 限合伙）（以下简称"盛芯基金"）和宁波云德半导体材料有限公 ...