2025 年 8 月 中巨芯科技股份有限公司 内部审计制度 中巨芯科技股份有限公司 中巨芯科技股份有限公司 内部审计制度 中巨芯科技股份有限公司 内部审计制度 内部审计制度 第一章 总则 第一条 为了规范中巨芯科技股份有限公司（以下简称"公司"）内部审计 工作，提高内部审计工作质量，保护投资者合法权益，根据《中华人民共和国公 司法》《中华人民共和国审计法》《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》等有关法律、部门规章和《中巨芯科技股份有限公司章 程》（以下简称"《公司章程》"）的相关规定，结合公司实际情况，制定本制 度。 第二条 本制度所称内部审计，是指由公司内部审计机构或人员依据国家有 关法律法规和本制度的规定，对公司各内部机构、控股子公司以及具有重大影响 的参股公司的内控制度和风险管理的有效性、财务信息的真实性、完整性以及经 营活动的效率和效果等开展的一种评价活动。 第三条 本制度所称内部控制，是指公司董事会、高级管理人员及其他有关 人员为实现下列目标而提供合理保证的过程： （一）遵守国家法律、法规、规章及其他相关规定； （二）提高公司经营的效率和效果； （三）保障公司资产的安全 ...

中巨芯科技股份有限公司 信息披露事务管理制度 中巨芯科技股份有限公司 信息披露事务管理制度 2025 年 8 月 中巨芯科技股份有限公司 信息披露事务管理制度 中巨芯科技股份有限公司 信息披露事务管理制度 第一章 总 则 第一条 为规范中巨芯科技股份有限公司（以下简称"公司"）信息披露工作， 加强信息披露事务管理，保护投资者合法权益，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》"）、《上市公司信息披露管理办法》《上海证券交易所科创板股票上市规 则》（以下简称"《上市规则》"）等相关法律、法规及规范性文件和《中巨芯 科技股份有限公司章程》（以下简称"《公司章程》"），制定本制度。 第二条 本制度所述信息披露是指将可能对公司股票及其衍生品种交易价格 产生较大影响或对投资决策有较大影响以及证券监管部门、《上市规则》要求披 露的信息，在规定时间内，通过指定的媒体，以规定的方式向社会公众公布，并 送达证券监管部门。 第三条 信息披露文件主要包括招股说明书、募集说明书、收购报告书、上 市公告书、定期报告和临时报告等。 第四条 信息披露义务人是指公司及其董事、高 ...

Section I Definitions [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter provides definitions for key terms, company entities, and specialized electronic chemical materials industry terminology to ensure clear understanding of the report - Company, Grandit, and Issuer all refer to Grandit Technology Co., Ltd[10](index=10&type=chunk) - Major shareholders include Juhua Co., Ltd., National Integrated Circuit Industry Investment Fund, Hengxin Enterprise, Yuanzhifuhai, and Yingchuan Fund[10](index=10&type=chunk) - The reporting period refers to January 1, 2025, to June 30, 2025[10](index=10&type=chunk) - Electronic chemical materials are specialized, high-purity chemicals and materials used in the electronics industry for integrated circuits, display panels, and photovoltaics[10](index=10&type=chunk) - Electronic wet chemicals (ultra-pure electronic chemicals) require particle sizes below **0.5µm** and impurity levels below **ppm**, used in processes like cleaning and etching[10](index=10&type=chunk) - Electronic gases are categorized into electronic specialty gases and electronic bulk gases, applied in semiconductor and electronic product manufacturing[11](index=11&type=chunk) - Precursor materials are substances carrying target elements, existing as gaseous, volatile liquid, or solid forms, possessing chemical thermal stability and reactivity[11](index=11&type=chunk) Section II Company Profile and Key Financial Indicators [I. Company Overview](index=6&type=section&id=I.%20Company%20Overview) Grandit Technology Co., Ltd. specializes in the R&D, production, and sales of electronic wet chemicals, electronic specialty gases, and precursor materials, primarily for integrated circuits, display panels, and photovoltaics - The company's Chinese name is Grandit Technology Co., Ltd., abbreviated as Grandit[14](index=14&type=chunk) - The company's legal representative is Tong Jihong[14](index=14&type=chunk) - The company's registered address is Room 857, Building 3, Southeast Times City, Quzhou City, Zhejiang Province[14](index=14&type=chunk) [II. Contact Persons and Information](index=6&type=section&id=II.%20Contact%20Persons%20and%20Information) This chapter provides contact details for the company's Board Secretary (domestic information disclosure representative) Chen Lifeng and Securities Affairs Representative Ji Lingjie, facilitating communication for investors and stakeholders - The Board Secretary (domestic information disclosure representative) is Chen Lifeng, and the Securities Affairs Representative is Ji Lingjie[15](index=15&type=chunk) - Contact phone numbers are both **0570-3091960**, and the email address is Grandit_IR@grandit.com.cn[15](index=15&type=chunk) [III. Information Disclosure and Document Availability Changes](index=7&type=section&id=III.%20Information%20Disclosure%20and%20Document%20Availability%20Changes) The company designates "China Securities Journal," "Shanghai Securities News," "Securities Times," and "Securities Daily" for information disclosure, with the semi-annual report published on the Shanghai Stock Exchange website and available at the company's securities department, with no changes during the reporting period - The company's designated information disclosure newspapers include "China Securities Journal," "Shanghai Securities News," "Securities Times," and "Securities Daily"[16](index=16&type=chunk) - The website address for publishing the semi-annual report is www.sse.com.cn[16](index=16&type=chunk) - The company's semi-annual report is available at the company's securities department[16](index=16&type=chunk) [IV. Company Shares/Depositary Receipts Overview](index=7&type=section&id=IV.%20Company%20Shares%2FDepositary%20Receipts%20Overview) The company's shares are RMB ordinary shares (A-shares) listed on the STAR Market of the Shanghai Stock Exchange, with the stock abbreviation "Grandit" and stock code "688549," and no changes to the former stock abbreviation during the reporting period; the company has no depositary receipts - The company's stock type is RMB ordinary shares (A-shares), listed on the STAR Market of the Shanghai Stock Exchange[17](index=17&type=chunk) - The stock abbreviation is Grandit, and the stock code is **688549**[17](index=17&type=chunk) - The company has no depositary receipts[18](index=18&type=chunk) [VI. Key Accounting Data and Financial Indicators](index=7&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's operating revenue increased by **20.40%** to **566.57 million yuan**, but total profit, net profit attributable to shareholders, and net profit after deducting non-recurring items significantly decreased by **80.11%**, **64.57%**, and **92.24%** respectively, mainly due to lower product selling prices and higher raw material costs; net cash flow from operating activities increased by **86.75%**, primarily due to an increase in operating payables reducing cash outflows 2025 Semi-Annual Key Accounting Data | Indicator | Current Reporting Period (Jan-Jun) (yuan) | Prior Year Period (yuan) | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 566,566,646.39 | 470,569,562.96 | 20.40 | | Total Profit | 5,478,923.39 | 27,547,167.54 | -80.11 | | Net Profit Attributable to Shareholders of the Listed Company | 8,137,661.54 | 22,966,908.51 | -64.57 | | Net Profit Attributable to Shareholders of the Listed Company After Deducting Non-Recurring Gains and Losses | 969,199.85 | 12,484,176.92 | -92.24 | | Net Cash Flow from Operating Activities | 77,122,969.84 | 41,297,880.78 | 86.75 | | Net Assets Attributable to Shareholders of the Listed Company (End of Reporting Period) | 3,032,014,725.44 | 3,029,540,316.48 | 0.08 | | Total Assets (End of Reporting Period) | 4,050,051,261.34 | 4,013,928,886.89 | 0.90 | 2025 Semi-Annual Key Financial Indicators | Key Financial Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.0055 | 0.0155 | -64.52 | | Diluted Earnings Per Share (yuan/share) | 0.0055 | 0.0155 | -64.52 | | Basic Earnings Per Share After Deducting Non-Recurring Gains and Losses (yuan/share) | 0.0007 | 0.0085 | -91.77 | | Weighted Average Return on Net Assets (%) | 0.27 | 0.75 | Decrease of 0.48 percentage points | | Weighted Average Return on Net Assets After Deducting Non-Recurring Gains and Losses (%) | 0.03 | 0.41 | Decrease of 0.38 percentage points | | Proportion of R&D Investment to Operating Revenue (%) | 7.17 | 6.22 | Increase of 0.95 percentage points | - Total profit, net profit attributable to shareholders, and net profit after deducting non-recurring gains and losses decreased by **80.11%**, **64.57%**, and **92.24%** respectively, primarily due to intensified market competition leading to lower selling prices for some products, and increased production costs due to rising raw material prices[21](index=21&type=chunk) - Net cash flow from operating activities increased by **86.75%**, mainly due to an increase in operating payables, which reduced cash outflows for purchasing goods and services[21](index=21&type=chunk) [VIII. Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=VIII.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This chapter details the non-recurring gains and losses items and their amounts for the reporting period, totaling **7.17 million yuan**, primarily including government grants recognized in current profit or loss, fair value change gains and losses, and non-current asset disposal gains and losses 2025 Semi-Annual Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -783,647.97 | | Government grants recognized in current profit or loss | 6,333,676.00 | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from disposal of financial assets and liabilities | 3,270,320.62 | | Other non-operating income and expenses apart from the above | -503,524.00 | | Less: Income tax impact | 266,386.23 | | Impact on minority interests (after tax) | 881,976.73 | | Total | 7,168,461.69 | Section III Management Discussion and Analysis [I. Industry and Main Business Overview During the Reporting Period](index=9&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20During%20the%20Reporting%20Period) The company primarily engages in the R&D, production, and sales of electronic wet chemicals, electronic specialty gases, and precursor materials, widely applied in integrated circuits, display panels, and photovoltaics; it operates in a technology-intensive sector, crucial for the semiconductor industry's upstream support, with a business model centered on "production based on sales, order-driven, reasonable inventory," and an R&D approach focused on independent innovation, supported by robust procurement and sales systems - The company's main business involves the R&D, production, and sales of electronic wet chemicals, electronic specialty gases, and precursor materials, applied in integrated circuit, display panel, and photovoltaic manufacturing[27](index=27&type=chunk) - The company operates in the cross-section of the electronic information and chemical industries, a typical technology-intensive sector, holding significant importance for the independent and secure development of the electronic information industry[28](index=28&type=chunk) Company's Main Products and Uses | Category | Product Name | Main Product Uses | | :--- | :--- | :--- | | Electronic Wet Chemicals | Electronic grade hydrofluoric acid, sulfuric acid, nitric acid, hydrochloric acid, ammonium fluoride, ammonia water | Etching, cleaning, glass thinning, raw material for buffered oxide etchant, alkaline cleaning | | Electronic Wet Chemicals | Buffered oxide etchant, silicon etchant | Slow etching, silicon etching | | Electronic Specialty Gases | High-purity chlorine, hydrogen chloride, hydrogen fluoride, fluorocarbon gases | Aluminum metal etching, polysilicon etching, optical fiber dehydration, cleaning, silicon dioxide etching, furnace tube cleaning | | Electronic Specialty Gases | High-purity tungsten hexafluoride | Deposition of tungsten conductive layers in integrated circuits | | Precursor Materials | HCDS, BDEAS, TDMAT | Thin film deposition | - The company's main profit model is generating revenue and profit by selling electronic wet chemicals and electronic specialty gases to downstream customers in integrated circuits, display panels, and photovoltaics[31](index=31&type=chunk) - The R&D model is primarily independent research, supplemented by collaborative research, guided by integrated circuit market applications, and focused on new product development and process optimization through the "Zhejiang Engineering Research Center for Advanced Electronic Chemical Materials"[32](index=32&type=chunk) - The sales model primarily adopts direct sales to customers, with a small portion through distributors, serving key production enterprises in integrated circuits, display panels, and photovoltaics[36](index=36&type=chunk) [II. Discussion and Analysis of Operations](index=12&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, facing a weak global economic recovery, raw material price volatility, and geopolitical challenges in the semiconductor materials industry, Grandit achieved revenue growth, increased R&D investment, and enhanced market expansion and operational management through a strategic focus on "pursuing leadership, integrating culture, strategy, and execution to elevate management; benchmarking excellence, focusing on efficiency, safety, and quality to strengthen operational capabilities; and continuous innovation, concentrating on technology, products, and models to improve development quality" - Global economic recovery is weak, and the semiconductor materials sector faces raw material price volatility and geopolitical impacts[36](index=36&type=chunk) - The company's operational philosophy focuses on pursuing leadership, benchmarking excellence, and continuous innovation to enhance management, strengthen operational capabilities, and improve development quality[36](index=36&type=chunk) [(I) Revenue Growth, Production and Sales Expansion](index=12&type=section&id=(I)%20Revenue%20Growth%2C%20Production%20and%20Sales%20Expansion) During the reporting period, the company's total operating revenue reached **566.57 million yuan**, a **20.40%** year-on-year increase, with net profit attributable to shareholders turning profitable quarter-on-quarter in the second quarter; specifically, electronic wet chemicals revenue grew by **25.57%**, and electronic specialty gases and precursor materials revenue increased by **10.49%**, while sales volumes for electronic wet chemicals and electronic specialty gases and precursor materials rose by **39.69%** and **12.45%** respectively 2025 Semi-Annual Revenue and Sales Overview | Indicator | Amount/Quantity | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Total Operating Revenue | 56,656.66 (10,000 yuan) | 20.40 | | Operating Revenue from Electronic Wet Chemicals Segment | 43,415.12 (10,000 yuan) | 25.57 | | Operating Revenue from Electronic Specialty Gases and Precursor Materials Segment | 12,042.15 (10,000 yuan) | 10.49 | | Cumulative Sales Volume of Electronic Wet Chemicals Segment | 75,641.42 tons | 39.69 | | Cumulative Sales Volume of Electronic Specialty Gases and Precursor Materials Segment | 1,372.65 tons | 12.45 | - Net profit attributable to shareholders of the listed company turned profitable quarter-on-quarter in the second quarter of 2025[37](index=37&type=chunk) - The company received the 2024 Strategic Raw Material Supplier Award from Corning Optical Communications (China)[37](index=37&type=chunk) [(II) Technology Leadership, Continuous Innovation for Development](index=12&type=section&id=(II)%20Technology%20Leadership%2C%20Continuous%20Innovation%20for%20Development) During the reporting period, the company continued to increase R&D investment, with R&D expenses growing by **38.70%** to **40.60 million yuan**, raising the proportion of R&D expenses to operating revenue to **7.17%**; it obtained **2 new invention patents**, bringing the cumulative total to **59 authorized invention patents**, focused new product R&D on core semiconductor applications, successfully developed multiple new etchant formulations entering industrialization, and improved the quality and efficiency of existing capacity through technical upgrades and optimized production costs 2025 Semi-Annual R&D Investment | Indicator | Amount/Ratio | | :--- | :--- | | Cumulative R&D Expenses | 4,059.64 (10,000 yuan) | | R&D Expenses as % of Operating Revenue | 7.17% | | R&D Expenses Year-on-Year Growth | 38.70% | - During the reporting period, **2 new invention patents** were authorized, increasing the cumulative number of authorized invention patents to **59**[38](index=38&type=chunk) - Multiple new etchant formulations were successfully developed and have entered the industrialization plant construction phase[38](index=38&type=chunk) - Product purity stability was enhanced, and unit product energy consumption was reduced, optimizing production costs through precise control of process parameters and intelligent equipment upgrades[39](index=39&type=chunk) [(III) Market Cultivation, Benchmarking Excellence for Operations](index=13&type=section&id=(III)%20Market%20Cultivation%2C%20Benchmarking%20Excellence%20for%20Operations) The company enhances customer satisfaction by establishing professional market teams to provide personalized product solutions and one-stop material supply services, consistently maintaining product quality above industry average, and improving production and delivery capabilities through technical upgrades; concurrently, it refines its safety production management system based on a "dual prevention mechanism" and continuously promotes supply chain localization to ensure stable raw material supply and cost reduction - Professional market teams were established to provide personalized product solutions and one-stop material supply services, enhancing customer purchasing convenience and satisfaction[40](index=40&type=chunk) - Key indicators such as product stability consistently exceed industry average, and product quality complaint rates are reduced through a stringent quality management system[40](index=40&type=chunk) - A "dual prevention mechanism" serves as the core to refine the risk hierarchical control system and conduct accident emergency drills, ensuring safe production[40](index=40&type=chunk) - The company continuously promotes the "localization" process in packaging materials and raw materials, establishing long-term strategic partnerships with upstream suppliers to enhance cost reduction and supply assurance capabilities[41](index=41&type=chunk) [(IV) Management Advancement, Pursuing Leadership for Foundation](index=13&type=section&id=(IV)%20Management%20Advancement%2C%20Pursuing%20Leadership%20for%20Foundation) The company aims for "industry leadership" by upgrading its management model, building a strategic management system tailored to its needs, and optimizing business expansion and functional planning; it continuously advances digitalization to improve production systems and data information integration efficiency, providing digital empowerment for production, operations, and decision-making, and will continue to focus on the needs of domestic semiconductor manufacturing enterprises to become a trusted partner in the semiconductor industry ecosystem - The company aims for "industry leadership" by advancing its management model and building a professional strategic management system[42](index=42&type=chunk) - Continuous digitalization efforts optimize production systems and enhance data information integration efficiency, providing digital empowerment for production, operations, and decision-making[42](index=42&type=chunk) - In the future, the company will focus on its business positioning as a "semiconductor manufacturing support industry specialist," striving to become a trusted partner in the semiconductor industry ecosystem[42](index=42&type=chunk) [III. Analysis of Core Competencies During the Reporting Period](index=13&type=section&id=III.%20Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company's core competencies are rooted in technological innovation, a diverse product portfolio, stringent quality management, stable customer relationships, and an experienced team; during the reporting period, it consistently increased R&D investment, accumulated numerous core technologies and patents, successfully developed new products, maintained a stable and broadly specialized R&D team, and had its subsidiaries Zhejiang Kaisen Fluorochemical Co., Ltd. and Zhejiang Borui Electronic Technology Co., Ltd. recognized as national-level "Little Giant" enterprises specializing in niche sectors - Technological innovation is a key factor in maintaining the company's competitive advantage, with continuous R&D investment, abundant technological achievements, and a high-caliber R&D team[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) - The company's business covers three major segments: electronic wet chemicals, electronic specialty gases, and precursor materials, offering a rich product variety and comprehensive professional solutions to customers[45](index=45&type=chunk) - Product performance stability and excellent quality are ensured through an SGS-certified quality management system and high-precision analytical and testing equipment[46](index=46&type=chunk) - Long-term, stable partnerships with major customers have been established, resulting in high customer stickiness and forming a customer barrier[47](index=47&type=chunk) - Core management members possess extensive industry experience, and an equity incentive scheme has fostered a cohesive and highly effective team[47](index=47&type=chunk) [1. Core Technologies, Their Advancement, and Changes During the Reporting Period](index=15&type=section&id=1.%20Core%20Technologies%2C%20Their%20Advancement%2C%20and%20Changes%20During%20the%20Reporting%20Period) The company has accumulated core technologies in product preparation, inspection, and packaging material treatment across its three major business segments: electronic wet chemicals, electronic specialty gases, and precursor materials; during the reporting period, the company actively implemented its "demand-driven research, ecological synergy" R&D philosophy, continuously conducting new product R&D, process improvement, and application development to deepen its technological foundation - The company's core technologies include product preparation technology, product inspection technology, and packaging material treatment technology[48](index=48&type=chunk) - The company actively implements its "demand-driven research, ecological synergy" R&D philosophy, continuously conducting new product R&D, process improvement, and application development[48](index=48&type=chunk) National-Level "Little Giant" Enterprise Certification Status | Certified Entity | Certification Title | Certification Year | Product Name | | :--- | :--- | :--- | :--- | | Zhejiang Kaisen Fluorochemical Co., Ltd. | National-level "Little Giant" Enterprise | 2022 | Electronic wet chemicals and other products | | Zhejiang Borui Electronic Technology Co., Ltd. | National-level "Little Giant" Enterprise | 2024 | Electronic specialty gases and other products | [2. R&D Achievements During the Reporting Period](index=15&type=section&id=2.%20R%26D%20Achievements%20During%20the%20Reporting%20Period) During the reporting period, the company continued R&D efforts around "new products, new technologies, and new applications" leveraging the Zhejiang Provincial Engineering Technology Research Center; in new products, it completed industrialization plant construction for BDEAS and other products, developed technologies for multiple precursor products, and industrialized four etchant products; in process improvement and application development, progress was made in purification technologies for high-purity hydrogen chloride, electronic-grade hydrochloric acid, and high-purity hydrogen fluoride, and advanced packaging technology for electronic wet chemicals was developed; **2 new invention patents** were authorized this period, bringing the cumulative total to **70 patents** - Completed industrialization plant construction for BDEAS and other products, and is developing technologies for multiple metal and silicon-based precursor products[50](index=50&type=chunk) - Four etchant products have been industrialized, passed client-side phase testing, and commenced mass supply[50](index=50&type=chunk) - Significant progress has been made in the purification technology for high-purity hydrogen chloride raw materials, electronic-grade hydrochloric acid raw materials, and high-purity hydrogen fluoride products[50](index=50&type=chunk) Patent Authorization Status During the Reporting Period | Category | New Authorizations This Period (count) | Cumulative Authorizations (count) | | :--- | :--- | :--- | | Invention Patents | 2 | 59 | | Utility Model Patents | 0 | 11 | | Total | 2 | 70 | [3. R&D Investment Table](index=16&type=section&id=3.%20R%26D%20Investment%20Table) During the reporting period, the company's total R&D investment was **40.60 million yuan**, a **38.70%** increase from the prior year period, with R&D investment as a percentage of operating revenue rising to **7.17%**, an increase of **0.95 percentage points** R&D Investment Status | Indicator | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 40,596,423.10 | 29,269,265.33 | 38.70 | | Total R&D Investment | 40,596,423.10 | 29,269,265.33 | 38.70 | | Total R&D Investment as % of Operating Revenue | 7.17 | 6.22 | Increase of 0.95 percentage points | [4. R&D Project Status](index=17&type=section&id=4.%20R%26D%20Project%20Status) The company currently has **30 R&D projects** with an estimated total investment of **277.57 million yuan**, and **40.60 million yuan** invested this period; these projects cover high-purity organic gas application development, precursor material development, new C4F6 production routes, deep dehydration of high-purity gases, key electronic wet chemical technology development, and compounded functional electronic chemical development, with most projects achieving phased results, some industrialized or in client testing, aiming to replace imports and meet domestic advanced process demands - There are **30 R&D projects** in total, with an estimated total investment of **277.57 million yuan**, and **40.60 million yuan** invested this period[59](index=59&type=chunk) - Multiple projects have completed laboratory development or industrialization plant construction, such as the completion of BDEAS product industrialization plant construction, and the development of multiple metal and silicon-based precursor product technologies[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk)[58](index=58&type=chunk) - Some projects have achieved client batch supply or passed phased tests, such as high-purity organic gases achieving batch supply at several domestic core IC clients, and multiple electronic chemicals passing client-side phased tests[54](index=54&type=chunk)[57](index=57&type=chunk) - R&D projects aim to replace imports, meet the demands of high-end domestic clients, and be applied in advanced integrated circuit processes[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk)[58](index=58&type=chunk) [5. R&D Personnel Status](index=23&type=section&id=5.%20R%26D%20Personnel%20Status) As of the end of the reporting period, the company had **116 R&D personnel**, accounting for **16.29%** of its total workforce, with total R&D personnel compensation of **13.82 million yuan** and an average compensation of **120,900 yuan**; the R&D team's educational structure is primarily bachelor's degree holders (**68.97%**), with master's and doctoral candidates accounting for **18.10%**, and the age structure is dominated by young talent aged **30-40** (**38.79%**) and under **30** (**30.17%**) R&D Personnel Basic Information | Indicator | Current Period Number | Prior Year Period Number | | :--- | :--- | :--- | | Number of Company R&D Personnel (persons) | 116 | 110 | | Proportion of R&D Personnel to Total Company Employees (%) | 16.29 | 17.16 | | Total R&D Personnel Compensation (10,000 yuan) | 1,382.14 | 1,189.01 | | Average R&D Personnel Compensation (10,000 yuan) | 12.09 | 11.54 | R&D Personnel Educational Background | Educational Background | Number (persons) | Proportion (%) | | :--- | :--- | :--- | | Doctoral Candidate | 7 | 6.03 | | Master's Candidate | 14 | 12.07 | | Bachelor's Degree | 80 | 68.97 | | Associate Degree | 13 | 11.21 | | High School and Below | 2 | 1.72 | | Total | 116 | 100.00 | R&D Personnel Age Structure | Age Range | Number (persons) | Proportion (%) | | :--- | :--- | :--- | | Under 30 | 35 | 30.17 | | 30-40 years old | 45 | 38.79 | | 40-50 years old | 29 | 25.00 | | 50-60 years old | 5 | 4.31 | | 60 years old and above | 2 | 1.72 | | Total | 116 | 100.00 | [IV. Risk Factors](index=23&type=section&id=IV.%20Risk%20Factors) The company faces multiple risks, including core competency risks such as lagging technological R&D and talent loss; operational risks like slower-than-expected client certification, safety production accidents, product quality issues, and increased environmental protection costs; financial risks including low gross profit margins, uncertain returns on fixed asset investments, goodwill impairment, and inventory obsolescence and markdown; as well as industry and macroeconomic risks from intensified competition and geopolitical uncertainties - Core competency risks include the inability of technological R&D to keep pace with industry iteration, leading to client loss, and the risk of losing technical talent[62](index=62&type=chunk) - Operational risks include slower-than-expected client certification for new products, safety production accidents involving hazardous chemicals, product quality instability leading to client losses, and increased environmental governance costs and environmental accident risks[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk) - Financial risks include low gross profit margins in the main business, fixed asset investments leading to depreciation not offset by revenue growth, goodwill impairment risk (from acquiring subsidiaries), and inventory obsolescence and markdown risk[66](index=66&type=chunk)[67](index=67&type=chunk) - Industry risks stem from the semiconductor sector's vulnerability to external macro environments and intensified domestic competition, while macroeconomic risks arise from geopolitical tensions, trade protectionism, and global economic uncertainty[68](index=68&type=chunk)[69](index=69&type=chunk) [V. Key Operating Performance During the Reporting Period](index=25&type=section&id=V.%20Key%20Operating%20Performance%20During%20the%20Reporting%20Period) During the reporting period, the company's operating revenue increased by **20.40%**, primarily due to market expansion; however, total profit, net profit, and net profit after deducting non-recurring items all significantly declined, mainly affected by lower product prices and rising raw material costs; net cash flow from operating activities grew substantially by **86.75%**, mainly due to an increase in operating payables; the asset-liability structure remained stable, but there were significant changes in accounts receivable financing, other current assets, employee compensation payable, and other accounts; the company made equity investments during the reporting period and disclosed financial information for its major holding and associate companies [(I) Analysis of Main Business](index=25&type=section&id=(I)%20Analysis%20of%20Main%20Business) During the reporting period, the company's operating revenue increased by **20.40%**, with operating costs rising by **24.47%**; selling expenses decreased by **5.96%**, and R&D expenses increased by **38.70%**; financial expenses changed due to reduced interest income; net cash flow from operating activities significantly increased by **86.75%**, mainly due to an increase in operating payables, which reduced cash outflows for procurement Financial Statement Related Item Fluctuation Analysis | Item | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 566,566,646.39 | 470,569,562.96 | 20.40 | | Operating Cost | 501,554,413.23 | 402,955,463.85 | 24.47 | | Selling Expenses | 9,772,747.57 | 10,392,086.59 | -5.96 | | Administrative Expenses | 23,630,953.93 | 23,217,562.90 | 1.78 | | Financial Expenses | -11,780,408.06 | -19,595,914.57 | Not applicable | | R&D Expenses | 40,596,423.10 | 29,269,265.33 | 38.70 | | Net Cash Flow from Operating Activities | 77,122,969.84 | 41,297,880.78 | 86.75 | | Net Cash Flow from Investing Activities | -352,091,057.08 | -130,141,392.76 | Not applicable | | Net Cash Flow from Financing Activities | -6,700,643.09 | 35,835,809.61 | Not applicable | - Operating revenue growth is primarily attributed to the company's intensified market expansion efforts[71](index=71&type=chunk) - The change in financial expenses is mainly due to a decrease in interest income from cash management of some idle raised funds during the current period[71](index=71&type=chunk) - The increase in net cash flow from operating activities is primarily due to an increase in operating payables, which reduced cash outflows for purchasing goods and services[71](index=71&type=chunk)[72](index=72&type=chunk) [(III) Analysis of Assets and Liabilities](index=26&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) As of the end of the reporting period, the company's total assets were **4.05 billion yuan**, an increase of **0.90%** from the end of the previous year; accounts receivable financing decreased by **81.23%**, mainly due to a reduction in bills held issued by state-owned and joint-stock banks; prepayments increased by **39.89%**, contract liabilities increased by **145.37%**, employee compensation payable decreased by **46.10%** (due to year-end bonus payments), and taxes payable increased by **135.89%** (due to increased VAT payable) Asset and Liability Status Changes | Item Name | Current Period End Amount (yuan) | Current Period End % of Total Assets | Prior Year End Amount (yuan) | Prior Year End % of Total Assets | Change from Prior Year End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 1,583,747,940.75 | 39.10 | 1,586,029,322.60 | 39.51 | -0.14 | | Accounts Receivable Financing | 7,779,734.10 | 0.19 | 41,451,563.03 | 1.03 | -81.23 | | Prepayments | 31,977,838.12 | 0.79 | 22,859,436.76 | 0.57 | 39.89 | | Other Current Assets | 9,752,457.93 | 0.24 | 43,051,492.60 | 1.07 | -77.35 | | Long-Term Equity Investments | 90,492,384.03 | 2.23 | 62,810,947.20 | 1.56 | 44.07 | | Right-of-Use Assets | 73,238.45 | 0.00 | 393,011.32 | 0.01 | -81.36 | | Other Non-Current Assets | 26,795,887.40 | 0.66 | 555,000.00 | 0.01 | Not applicable | | Notes Payable | 274,643,512.39 | 6.78 | 204,951,653.76 | 5.11 | 34.00 | | Contract Liabilities | 6,495,885.92 | 0.16 | 2,647,420.58 | 0.07 | 145.37 | | Employee Compensation Payable | 10,102,618.72 | 0.25 | 18,743,715.05 | 0.47 | -46.10 | | Taxes Payable | 11,674,188.58 | 0.29 | 4,948,932.69 | 0.12 | 135.89 | - Accounts receivable financing decreased by **81.23%**, mainly due to a reduction in the volume of bills held that were issued by state-owned and joint-stock banks during the reporting period[74](index=74&type=chunk) - Other current assets decreased by **77.35%**, primarily due to a reduction in deductible VAT during the reporting period[74](index=74&type=chunk) - Long-term equity investments increased by **44.07%**, mainly due to new external investments where significant influence was applied during the reporting period[74](index=74&type=chunk) - Employee compensation payable decreased by **46.10%**, primarily due to the payment of year-end bonuses during the reporting period[75](index=75&type=chunk) - Taxes payable increased by **135.89%**, mainly due to an increase in VAT payable during the reporting period[75](index=75&type=chunk) [(IV) Analysis of Investment Status](index=29&type=section&id=(IV)%20Analysis%20of%20Investment%20Status) During the reporting period, the company's total external equity investment was **26 million yuan**, a **51.13%** decrease from the prior year period; the main investment project was an additional investment in Jingheng Xidao (Shanghai) Technology Co., Ltd., increasing its shareholding to **49.81%**, with an investment gain of **1.58 million yuan** for the period; the company also held financial assets measured at fair value, with an end-of-period balance of **15.83 million yuan**, primarily including trading financial assets and accounts receivable financing Overall Analysis of External Equity Investments | Indicator | Investment Amount in Reporting Period (yuan) | Investment Amount in Prior Year Period (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total External Equity Investment | 26,000,000.00 | 53,200,000.00 | -51.13 | - An additional investment of **26 million yuan** was made in Jingheng Xidao (Shanghai) Technology Co., Ltd., increasing the shareholding to **49.81%**, with an investment gain of **1.58 million yuan** for the current period[80](index=80&type=chunk) End-of-Period Balance of Financial Assets Measured at Fair Value | Asset Category | End-of-Period Amount (yuan) | | :--- | :--- | | Trading Financial Assets | 4,052,181.15 | | Accounts Receivable Financing | 7,779,734.10 | | Other Equity Instrument Investments | 4,000,000.00 | | Total | 15,831,915.25 | [(VI) Analysis of Major Holding and Associate Companies](index=30&type=section&id=(VI)%20Analysis%20of%20Major%20Holding%20and%20Associate%20Companies) The company's major holding subsidiaries include Zhejiang Kaisen Fluorochemical Co., Ltd., Zhejiang Borui Electronic Technology Co., Ltd., Grandit (Hubei) Technology Co., Ltd., Grandit (Quzhou) Technology Co., Ltd., and Zhejiang Borui Zhongxiao Technology Co., Ltd., primarily engaged in electronic wet chemicals, electronic specialty gases, and precursor materials; associate companies include Zhejiang Zhongxiao Borui Trading Co., Ltd. and Jingheng Xidao (Shanghai) Technology Co., Ltd.; among them, Zhejiang Kaisen Fluorochemical Co., Ltd. and Grandit (Hubei) Technology Co., Ltd. showed good operating revenue and net profit performance, while Zhejiang Borui Zhongxiao Technology Co., Ltd. reported a negative net profit for the current period Financial Information of Major Holding and Associate Companies (Unit: 10,000 yuan) | Company Name | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zhejiang Kaisen Fluorochemical Co., Ltd. | Electronic wet chemicals business | 30,000.00 | 128,301.78 | 60,886.12 | 41,126.39 | 1,170.39 | 1,128.99 | | Zhejiang Borui Electronic Technology Co., Ltd. | Electronic specialty gases and precursor materials business | 72,600.00 | 73,811.20 | 59,840.65 | 10,541.82 | 227.19 | 227.27 | | Grandit (Hubei) Technology Co., Ltd. | Electronic wet chemicals business | 20,000.00 | 74,680.68 | 65,979.1 | 5,653.58 | 238.95 | 210.68 | | Grandit (Quzhou) Technology Co., Ltd. | Formulated functional chemicals and precursor materials business | 10,000.00 | 42,723.49 | 37,110.91 | 0.00 | 233.05 | 174.30 | | Zhejiang Borui Zhongxiao Technology Co., Ltd. | Electronic specialty gases business | 2,600 (USD million) | 22,247.98 | 16,585.58 | 2,198.71 | -467.73 | -467.54 | | Zhejiang Zhongxiao Borui Trading Co., Ltd. | Electronic specialty gases trading business | 300 (USD million) | 2,755.39 | 2,266.01 | 2,521.02 | 19.83 | 19.83 | | Jingheng Xidao (Shanghai) Technology Co., Ltd. | Glass products (high-purity quartz materials) related business | 15,900.00 | 23,800.23 | 21,801.05 | 11,152.65 | 318.05 | 318.05 | Section IV Corporate Governance, Environment, and Society [II. Profit Distribution or Capital Reserve Conversion Plan](index=32&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company's board of directors has resolved that there will be no profit distribution or capital reserve conversion plan for the current reporting period, meaning no such actions will be taken for this semi-annual period - The profit distribution plan or capital reserve conversion plan for the current reporting period is "none"[5](index=5&type=chunk) [IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information](index=32&type=section&id=IV.%20Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information) One of the company's subsidiaries, Zhejiang Kaisen Fluorochemical Co., Ltd., is included in the list of enterprises required to disclose environmental information, and its environmental information disclosure report can be accessed through the Zhejiang Provincial Department of Ecology and Environment website - Zhejiang Kaisen Fluorochemical Co., Ltd. is included in the list of enterprises required to disclose environmental information[87](index=87&type=chunk) - Its environmental information disclosure report can be accessed at https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-search[87](index=87&type=chunk) Section V Significant Matters [I. Fulfillment of Commitments](index=33&type=section&id=I.%20Fulfillment%20of%20Commitments) The company's actual controller, shareholders, related parties, and the company itself have all timely and strictly fulfilled their commitments during or continuing into the reporting period, primarily involving share lock-ups, share price stabilization, avoidance of horizontal competition, standardization of related party transactions, and truthfulness of information disclosure, all aimed at protecting investor interests and the company's long-term development - Major shareholders including Juhua Co., Ltd., Industry Investment Fund, and Hengxin Enterprise committed not to transfer pre-IPO shares for **36 months** from the company's listing date[89](index=89&type=chunk)[91](index=91&type=chunk)[95](index=95&type=chunk) - Directors, senior management, and core technical personnel committed not to transfer pre-IPO shares for **36 months** from the company's listing date and to comply with share reduction regulations during their tenure[89](index=89&type=chunk)[99](index=99&type=chunk)[101](index=101&type=chunk) - The company and relevant parties committed to initiating share price stabilization measures, including company share repurchases and share increases by directors and senior management, if the closing price falls below net assets per share for **20 consecutive trading days**[103](index=103&type=chunk)[104](index=104&type=chunk)[106](index=106&type=chunk) - Juhua Co., Ltd., Industry Investment Fund, and Juhua Group committed to avoiding horizontal competition with the company, refraining from directly or indirectly engaging in businesses identical or similar to the company's main operations[140](index=140&type=chunk)[143](index=143&type=chunk)[145](index=145&type=chunk) - Juhua Co., Ltd., Industry Investment Fund, and Juhua Group committed to standardizing and minimizing related party transactions with the company, ensuring they are conducted based on fair pricing principles[147](index=147&type=chunk)[148](index=148&type=chunk) - The company committed that the prospectus content is true, accurate, and complete, without false records, misleading statements, or major omissions, and pledged to repurchase all new shares in case of fraudulent issuance[113](index=113&type=chunk)[129](index=129&type=chunk) [X. Significant Related Party Transactions](index=50&type=section&id=X.%20Significant%20Related%20Party%20Transactions) During the reporting period, the company engaged in related party transactions related to its daily operations, primarily selling goods worth **2.25 million yuan** to Shanghai Xinsheng Jingke Semiconductor Technology Co., Ltd.; these transactions were negotiated at market fair prices and settled via bank transfer; company director Shu Kai serves as a director at this related party Related Party Transactions Related to Daily Operations | Related Party | Related Party Relationship | Related Party Transaction Type | Related Party Transaction Content | Related Party Transaction Amount (yuan) | Proportion of Similar Transactions (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Shanghai Xinsheng Jingke Semiconductor Technology Co., Ltd. | Other related party | Sales of goods | Sale of goods | 2,251,994.70 | 0.40 | - Company director Shu Kai serves as a director at Shanghai Xinsheng Jingke Semiconductor Technology Co., Ltd[151](index=151&type=chunk) [XI. Significant Contracts and Their Performance](index=52&type=section&id=XI.%20Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company had leasing arrangements and significant guarantees; as a lessee, the company leased premises from Zhejiang Juhua Co., Ltd., with rent increasing by **3%** every two years; the total guarantee balance provided by the company and its subsidiaries for subsidiaries was **544.30 million yuan**, accounting for **17.49%** of the company's net assets, primarily joint liability guarantees for Zhejiang Kaisen Fluorochemical Co., Ltd., all currently not overdue Leasing Status | Lessor Name | Leased Asset Description | Lease Start Date | Lease End Date | Related Party Relationship | | :--- | :--- | :--- | :--- | :--- | | Zhejiang Juhua Co., Ltd. | 1,515.70 square meters in Building 7, No. 899 Zuchongzhi Road, Zhangjiang Hi-Tech Park, Pudong New Area, Shanghai | 2025.03.01 | 2029.02.28 | Associate shareholder | - The lease contract stipulates a **3%** rent increase every two years based on the previous period[155](index=155&type=chunk) Company and Its Subsidiaries' Guarantees for Subsidiaries | Guarantor | Guaranteed Party | Guarantee Amount (10,000 yuan) | Guarantee Start Date | Guarantee End Date | Guarantee Type | Has Guarantee Been Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Grandit Technology Co., Ltd. | Zhejiang Kaisen Fluorochemical Co., Ltd. | 23,430.00 | 2021.07.14 | 2031.01.02 | Joint liability guarantee | No | | Grandit Technology Co., Ltd. | Zhejiang Kaisen Fluorochemical Co., Ltd. | 31,000.00 | 2024.01.05 | 2030.03.04 | Joint liability guarantee | No | | Total Guarantee Balance for Subsidiaries at End of Reporting Period (B) | | 54,430.00 | | | | | | Proportion of Total Guarantee to Company's Net Assets (%) | | 17.49 | | | | | [XII. Progress Report on Use of Raised Funds](index=54&type=section&id=XII.%20Progress%20Report%20on%20Use%20of%20Raised%20Funds) The company's net proceeds from its initial public offering amounted to **1,806.75 million yuan**, with a committed investment of **1,500 million yuan** and over-raised funds of **306.75 million yuan**; as of the end of the reporting period, cumulative raised funds invested totaled **990.22 million yuan**, representing an investment progress of **54.81%**; some funded projects are completed or under construction, and **180 million yuan** of over-raised funds have been permanently used to supplement working capital; the company also used bank acceptance bills to pay for funded projects, with equivalent replacement from raised funds, and managed idle raised funds through cash management [(I) Overall Use of Raised Funds](index=54&type=section&id=(I)%20Overall%20Use%20of%20Raised%20Funds) The company's net proceeds from its initial public offering amounted to **1,806.75 million yuan**, with a committed investment of **1,500 million yuan** and over-raised funds of **306.75 million yuan**; as of the end of the reporting period, cumulative raised funds invested totaled **990.22 million yuan**, representing an investment progress of **54.81%**, with **126.74 million yuan** invested this year Overall Use of Raised Funds | Source of Raised Funds | Net Raised Funds (1) (10,000 yuan) | Committed Investment Amount in Prospectus (2) (10,000 yuan) | Total Over-Raised Funds (3)=(1)-(2) (10,000 yuan) | Cumulative Over-Raised Funds Invested at End of Reporting Period (10,000 yuan) | Cumulative Raised Funds Invested at End of Reporting Period (5) (10,000 yuan) | Amount Invested This Year (10,000 yuan) | Investment Progress (%) (7)=(5)/(1) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering | 180,675.03 | 150,000.00 | 30,675.03 | 18,000.00 | 99,021.90 | 12,674.23 | 54.81 | [(II) Details of Projects Funded by Raised Capital](index=55&type=section&id=(II)%20Details%20of%20Projects%20Funded%20by%20Raised%20Capital) The company's projects funded by raised capital include the Qianjiang 50,000 tons/year Ultra-Pure Electronic Chemicals Project, the 100,700 tons/year Electronic Wet Chemicals Capacity Expansion and Renovation Project, and the Wet Etching and Cleaning Solution Project for Integrated Circuits; the Qianjiang Project Phase I is completed, and Phase II is expected to be completed by December 2026; projects for supplementing working capital and permanently supplementing working capital are **100%** invested; **180 million yuan** of over-raised funds have been permanently used to supplement working capital, with **126.75 million yuan** remaining unused Detailed Use of Raised Funds (Unit: 10,000 yuan) | Project Name | Planned Total Investment of Raised Funds (1) | Amount Invested This Year | Cumulative Raised Funds Invested at End of Reporting Period (2) | Investment Progress (%) (3)=(2)/(1) | Date Project Reaches Intended Usable State | | :--- | :--- | :--- | :--- | :--- | :--- | | Qianjiang 50,000 tons/year Ultra-Pure Electronic Chemicals Project Phase I | 50,800.00 | 1,718.04 | 38,197.36 | 75.19 | Completed, Phase II expected to be completed by December 2026 | | 100,700 tons/year Electronic Wet Chemicals Capacity Expansion and Renovation Project | 25,200.00 | 4,276.76 | 4,649.61 | 18.45 | December 2026 | | Wet Etching and Cleaning Solution Project for Integrated Circuits | 35,000.00 | 6,627.09 | 8,122.59 | 23.21 | December 2026 | | Electronic Grade Sulfuric Acid Supporting 102,000 tons/year High-Purity Sulfur Trioxide Project | 9,000.00 | 52.34 | 52.34 | 0.58 | June 2026 | | Supplementing Working Capital | 30,000.00 | 0.00 | 30,000.00 | 100 | Not applicable | | Permanently Supplementing Working Capital with Over-Raised Funds | 18,000.00 | 0.00 | 18,000.00 | 100 | Not applicable | | Remaining Over-Raised Funds | 12,675.03 | 0.00 | 0.00 | 0 | Not applicable | [(IV) Other Uses of Raised Funds During the Reporting Period](index=57&type=section&id=(IV)%20Other%20Uses%20of%20Raised%20Funds%20During%20the%20Reporting%20Period) During the reporting period, the company continued to use bank acceptance bills to pay for projects funded by raised capital, with equivalent replacement from raised funds, and managed temporarily idle raised funds (including over-raised funds) and its own funds through cash management; the board of directors has approved the use of temporarily idle raised funds (including over-raised funds) up to a maximum of **1,000 million yuan** for cash management - The company and its subsidiaries used bank acceptance bills to pay for projects funded by raised capital and made equivalent replacements from raised funds[166](index=166&type=chunk)[167](index=167&type=chunk) - The board of directors approved the company and its subsidiaries implementing projects funded by raised capital to use temporarily idle raised funds (including over-raised funds) up to a maximum of **1,000 million yuan** for cash management[169](index=169&type=chunk) Idle Raised Funds Cash Management Status | Board of Directors Approval Date | Approved Amount for Cash Management of Raised Funds (10,000 yuan) | Cash Management Balance at End of Reporting Period (10,000 yuan) | Did the Maximum Balance During the Period Exceed the Authorized Amount | | :--- | :--- | :--- | :--- | | September 26, 2024 | 100,000.00 | 59,402.00 | No | Section VI Share Changes and Shareholder Information [I. Share Capital Changes](index=58&type=section&id=I.%20Share%20Capital%20Changes) During the reporting period, there were no changes in the company's total ordinary share capital or share capital structure, and information on changes in restricted shares is not applicable - During the reporting period, there were no changes in the company's total ordinary share capital or share capital structure[172](index=172&type=chunk) - Information on changes in restricted shares is not applicable[173](index=173&type=chunk) [II. Shareholder Information](index=58&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the company had **33,560 ordinary shareholders**; among the top ten shareholders, Zhejiang Juhua Co., Ltd. and National Integrated Circuit Industry Investment Fund Co., Ltd. were co-first largest shareholders, each holding **390 million shares**, representing **26.40%**; Quzhou Hengxin Enterprise Management Partnership (Limited Partnership) held **107.96 million shares**, representing **7.31%**; some shareholders' shares are subject to lock-up conditions, such as Haitong Innovation Securities Investment Co., Ltd. with a **24-month** lock-up period Total Number of Shareholders | Indicator | Number | | :--- | :--- | | Total number of ordinary shareholders at the end of the reporting period (households) | 33,560 | Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholder Nature | Proportion (%) | Number of Shares Held at Period End | Number of Restricted Shares Held | | :--- | :--- | :--- | :--- | :--- | | Zhejiang Juhua Co., Ltd. | State-owned legal person | 26.40 | 390,000,000 | 390,000,000 | | National Integrated Circuit Industry Investment Fund Co., Ltd. | State-owned legal person | 26.40 | 390,000,000 | 390,000,000 | | Quzhou Hengxin Enterprise Management Partnership (Limited Partnership) | Other | 7.31 | 107,957,000 | 107,957,000 | | Quzhou Kecheng Yingchuan Industrial Fund Management Co., Ltd. | State-owned legal person | 5.42 | 80,000,000 | 0 | | Shenzhen Yuanzhifuhai Investment Management Co., Ltd. - Shenzhen Yuanzhifuhai No. 11 Investment Enterprise (Limited Partnership) | Other | 3.50 | 51,724,874 | 0 | | CITIC Securities Co., Ltd. - Harvest SSE STAR Market Chip ETF | Other | 0.95 | 13,977,841 | 0 | | Haitong Innovation Securities Investment Co., Ltd. | State-owned legal person | 0.78 | 11,583,011 | 11,583,011 | | Guotai Junan Securities Co., Ltd. - Guolian An CSI All-Index Semiconductor Products and Equipment ETF | Other | 0.42 | 6,259,400 | 0 | | China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF | Other | 0.37 | 5,442,622 | 0 | | Zhang Zhengwen | Domestic natural person | 0.31 | 4,600,000 | 0 | - National Integrated Circuit Industry Investment Fund Co., Ltd. holds equity in Shanghai Silicon Industry Group Co., Ltd[176](index=176&type=chunk) Top Ten Shareholders with Restricted Shares and Their Restrictions | No. | Name of Shareholder with Restricted Shares | Number of Restricted Shares Held | Date Available for Trading | Restriction Conditions | | :--- | :--- | :--- | :--- | :--- | | 1 | Zhejiang Juhua Co., Ltd. | 390,000,000 | 2026.9.8 | 36 months from listing date | | 2 | National Integrated Circuit Industry Investment Fund Co., Ltd. | 390,000,000 | 2026.9.8 | 36 months from listing date | | 3 | Quzhou Hengxin Enterprise Management Partnership (Limited Partnership) | 107,957,000 | 2026.9.8 | 36 months from listing date | | 4 | Haitong Innovation Securities Investment Co., Ltd. | 11,583,011 | 2025.9.8 | 24 months from listing date | Section VII Bond-Related Information [I. Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=63&type=section&id=I.%20Corporate%20Bonds%20(Including%20Enterprise%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments [II. Convertible Corporate Bonds](index=63&type=section&id=II.%20Convertible%20Corporate%20Bonds) During the reporting period, the company had no convertible corporate bonds Section VIII Financial Report [I. Audit Report](index=64&type=section&id=I.%20Audit%20Report) This semi-annual report is unaudited - This semi-annual report is unaudited[6](index=6&type=chunk) [II. Financial Statements](index=64&type=section&id=II.%20Financial%20Statements) This chapter presents the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively illustrating the company's financial position, operating results, and cash flow during the reporting period [Consolidated Balance Sheet](index=64&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, the company's consolidated total assets were **4.05 billion yuan**, total liabilities were **938.01 million yuan**, and total owners' equity was **3.11 billion yuan**; total current assets were **2.19 billion yuan**, total non-current assets were **1.86 billion yuan**; total current liabilities were **786.62 million yuan**, and total non-current liabilities were **151.39 million yuan** Consolidated Balance Sheet Key Data (June 30, 2025) | Item | Period-End Balance (yuan) | Period-Beginning Balance (yuan) | | :--- | :--- | :--- | | Total Assets | 4,050,051,261.34 | 4,013,928,886.89 | | Total Liabilities | 938,012,408.94 | 902,073,503.49 | | Total Owners' Equity | 3,112,038,852.40 | 3,111,855,383.40 | | Total Current Assets | 2,192,174,480.97 | 2,217,808,026.12 | | Total Non-Current Assets | 1,857,876,780.37 | 1,796,120,860.77 | | Total Current Liabilities | 786,620,307.50 | 734,484,490.37 | | Total Non-Current Liabilities | 151,392,101.44 | 167,589,013.12 | [Consolidated Income Statement](index=68&type=section&id=Consolidated%20Income%20Statement) In the first half of 2025, the company achieved total operating revenue of **566.57 million yuan**, a **20.40%** year-on-year increase; total operating costs were **565.87 million yuan**, a **26.23%** year-on-year increase; total profit was **5.48 million yuan**, a **80.11%** year-on-year decrease; net profit attributable to parent company shareholders was **8.14 million yuan**, a **64.57%** year-on-year decrease Consolidated Income Statement Key Data (Jan-Jun 2025) | Item | 2025 Semi-Annual (yuan) | 2024 Semi-Annual (yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 566,566,646.39 | 470,569,562.96 | | II. Total Operating Costs | 565,869,905.45 | 448,296,275.11 | | III. Operating Profit | 6,766,095.36 | 27,182,568.92 | | IV. Total Profit | 5,478,923.39 | 27,547,167.54 | | V. Net Profit | 5,846,721.58 | 24,352,524.90 | | Net Profit Attributable to Parent Company Shareholders | 8,137,661.54 | 22,966,908.51 | | Minority Interest Income/Loss | -2,290,939.96 | 1,385,616.39 | | VIII. Earnings Per Share: Basic Earnings Per Share (yuan/share) | 0.0055 | 0.0155 | | VIII. Earnings Per Share: Diluted Earnings Per Share (yuan/share) | 0.0055 | 0.0155 | [Consolidated Cash Flow Statement](index=72&type=section&id=Consolidated%20Cash%20Flow%20Statement) In the first half of 2025, the company's net cash flow from operating activities was **77.12 million yuan**, a **86.75%** year-on-year increase; net cash flow from investing activities was **-352.09 million yuan**, indicating increased cash outflow; net cash flow from financing activities was **-6.70 million yuan**, also indicating increased cash outflow; the period-end balance of cash and cash equivalents was **536.30 million yuan** Consolidated Cash Flow Statement Key Data (Jan-Jun 2025) | Item | 2025 Semi-Annual (yuan) | 2024 Semi-Annual (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 77,122,969.84 | 41,297,880.78 | | Net Cash Flow from Investing Activities | -352,091,057.08 | -130,141,392.76 | | Net Cash Flow from Financing Activities | -6,700,643.09 | 35,835,809.61 | | Net Increase in Cash and Cash Equivalents | -281,394,769.70 | -52,544,592.39 | | Cash and Cash Equivalents at End of Period | 536,296,816.58 | 361,435,029.50 | [III. Company Basic Information](index=86&type=section&id=III.%20Company%20Basic%20Information) Grandit Technology Co., Ltd., formerly Grandit Co., Ltd., was established on December 25, 2017, restructured into a joint-stock company on June 25, 2021, and listed on the STAR Market of the Shanghai Stock Exchange on September 8, 2023; the company has a registered capital of **1,477.28 million yuan** and primarily engages in the R&D, production, and sales of electronic wet chemicals, electronic specialty gases, and precursor materials - The company, formerly Grandit Co., Ltd., was established on December 25, 2017[221](index=221&type=chunk) - It was restructured into a joint-stock company on June 25, 2021, and listed on the Shanghai Stock Exchange on September 8, 2023[221](index=221&type=chunk) - The company's registered capital is **1,477.28 million yuan**, with a total of **1,477.28 million shares**[221](index=221&type=chunk) - Its main business is the R&D, production, and sales of electronic wet chemicals, electronic specialty gases, and precursor materials[222](index=222&type=chunk) [IV. Basis of Financial Statement Preparation](index=86&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, with no events or circumstances that would raise significant doubt about its ability to continue as a going concern for the 12 months from the end of the reporting period - The company's financial statements are prepared on a going concern basis[223](index=223&type=chunk) - There are no events or circumstances that would raise significant doubt about its ability to continue as a going concern for the 12 months from the end of the reporting period[224](index=224&type=chunk) [V. Significant Accounting Policies and Estimates](index=86&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This chapter details the company's significant accounting policies and estimates, including enterprise accounting standards, accounting period, operating cycle, functional currency, materiality criteria, business combinations, consolidated financial statements, cash and cash equivalents, foreign currency transactions, financial instruments, notes receivable, accounts receivable, accounts receivable financing, other receivables, inventories, assets held for sale, long-term equity investments, fixed assets, construction in progress, borrowing costs, intangible assets, long-term deferred expenses, contract liabilities, employee compensation, provisions, share-based payments, revenue, government grants, deferred income tax assets/liabilities, and leases, all of which are followed in preparing the financial statements - The company's financial statements comply with enterprise accounting standards, accurately and completely reflecting its financial position[226](index=226&type=chunk) - The company's accounting year runs from January 1 to December 31, with a short operating cycle, using **12 months** as the liquidity classification standard[227](index=227&type=chunk)[228](index=228&type=chunk) - Financial assets are classified into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss[236](index=236&type=chunk) - Accounts receivable impairment provisions are accrued based on aging, with an expected credit loss rate of **5.00%** for receivables within **1 year**[250](index=250&type=chunk) - Inventories are measured at the lower of cost and net realizable value, with impairment provisions accrued for the difference when cost exceeds net realizable value[256](index=256&type=chunk) - Fixed assets are depreciated using the straight-line method, with depreciation periods of **10-40 years** for buildings, **3-10 years** for general and specialized equipment, and **5-8 years** for transportation vehicles[270](index=270&type=chunk) - Intangible assets, including land use rights, software, and proprietary technology, are amortized using the straight-line method[274](index=274&type=chunk) - Revenue recognition principles involve identifying distinct performance obligations, determining whether they are satisfied over time or at a point in time, and recognizing revenue based on the progress of satisfaction or when the customer obtains control[291](index=291&type=chunk)[292](index=292&type=chunk) - Government grants are classified as asset-related or income-related, either reducing the carrying amount of the asset or recognized as deferred income, or directly recognized in current profit or loss[295](index=295&type=chunk)[296](index=296&type=chunk) [VI. Taxation](index=108&type=section&id=VI.%20Taxation) The company's main taxes include VAT (**13%**, **9%**, **6%**), property tax (**1.2%**, **12%**), urban maintenance and construction tax (**7%**), education surcharge (**3%**), local education surcharge (**2%**), and corporate income tax; Zhejiang Kaisen Fluorochemical Co., Ltd. and Zhejiang Borui Electronic Technology Co., Ltd., as high-tech enterprises, enjoy a **15%** corporate income tax preferential rate, and Zhejiang Borui Electronic Technology Co., Ltd. also benefits from a **15%** VAT super deduction policy for integrated circuit enterprises Main Tax Types and Rates | Tax Type | Tax Rate | | :--- | :--- | | Value-Added Tax (VAT) | 13%, 9%, 6% | | Property Tax | 1.2%, 12% | | Urban Maintenance and Construction Tax | 7% | | Education Surcharge | 3% |

证券代码：688549 证券简称：中巨芯 公告编号：2025-027 中巨芯科技股份有限公司 关于全资子公司之间吸收合并暨变更 部分募投项目实施主体的公告 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： 浙江凯圣氟化学有限公司（以下简称"凯圣氟化学"）和中巨芯（衢州） 科技有限公司（以下简称"中巨芯（衢州）"）均系中巨芯科技股份有限公司（以 下简称"中巨芯"或"公司"）全资子公司，凯圣氟化学拟吸收合并中巨芯（衢 州）。吸收合并完成后凯圣氟化学继续存续，中巨芯（衢州）的独立法人资格依 法将被注销，其全部资产、债权、债务、人员和业务由凯圣氟化学依法继承。公 司首次公开发行股票募集资金投资项目（以下简称"募投项目"）之一的"集成 电路用先进电子化学材料项目（一期）"（项目名称已变更为"集成电路用湿法 刻蚀及清洗液项目"）实施主体相应由中巨芯（衢州）变更为凯圣氟化学，该项 目的投资金额、用途、实施地点等其他事项不变。 根据《上海证券交易所科创板股票上市规则》以及《中巨芯科技股份有 限公司章程》等规定，本次吸收合并暨 ...

证券代码：688549 证券简称：中巨芯 公告编号：2025-032 根据《企业会计准则第8号——资产减值》及中巨芯科技股份有限公司（以 下简称"公司"）会计政策、会计估计的相关规定，为了客观、公允地反映公 司截至2025年6月30日的财务状况和2025年半年度的经营成果，基于谨慎性原则， 公司对截至2025年6月30日合并报表范围内可能发生信用减值损失及资产减值损 失的有关资产计提资产减值准备。 2025年半年度，公司确认信用减值损失和资产减值损失共计9,787,491.20元， 具体如下： 单位：人民币元 | | 项目 | 2025年1-6月计提金额 | | --- | --- | --- | | 信用减值损失 | 应收账款坏账损失 | 681,531.04 | | | 其他应收款坏账损失 | 84,541.36 | | | 小计 | 766,072.40 | | 资产减值损失 | 存货跌价损失 | 9,021,418.80 | | | 小计 | 9,021,418.80 | | | 合计 | 9,787,491.20 | 注：本次计提减值准备计入的报告期间为 2025 年 1 月 1 日至 2025 年 ...

中巨芯科技股份有限公司 2025 年度"提质增效重回报"行动方案 半年度评估报告 为践行"以投资者为本"的上市公司发展理念，贯彻落实《关于深化科创 板改革服务科技创新和新质生产力发展的八条措施》，积极响应上海证券交易 所《关于开展沪市公司"提质增效重回报"专项行动的倡议》，中巨芯科技股 份有限公司（以下简称"公司"）在对 2024 年"提质增效重回报"行动方案落 实评估的基础上，于 2025 年 4 月 11 日发布了《关于 2025 年度"提质增效重回 报"行动方案》。2025 年上半年，公司积极落实"提质增效重回报"行动方案， 并在推动公司高质量发展、投资价值提升、保障投资者权益等方面取得了阶段 性进展。为进一步推动公司高质量发展，提升公司价值，保障投资者权益，公 司对《2025 年度"提质增效重回报"行动方案》的半年度执行情况进行了评估， 执行情况具体如下： 一、深化经营主业，夯实高质量发展根基 对标卓越，立足效率、安全、品质，强运营能力；持续创新，聚焦技术、产品、 模式，提发展质量"为工作指导思想，全面推进年度战略目标的实现。 （一）积极进取，市场版图持续扩张 公司自设立以来专注于半导体材料领域，当前 ...

证券代码：688549 证券简称：中巨芯 公告编号：2025-029 中巨芯科技股份有限公司 关于公司董事离任暨补选董事的公告 (二) 离任对公司的影响 张昊玳女士的离任不会导致公司董事会成员低于法定最低人数，不会影响公 司董事会和公司经营的正常运作。截至本公告披露日，张昊玳女士未持有公司股 份，不存在应当履行而未履行的承诺事项。 张昊玳女士在任期间恪尽职守、勤勉尽责，公司及公司董事会谨向张昊玳女 士对公司所做的贡献表示衷心的感谢！ 二、补选董事情况 为完善公司治理结构，保证公司董事会的规范运作，根据《中华人民共和国 公司法》《中巨芯科技股份有限公司章程》等相关规定，经公司股东国家集成电 路产业投资基金股份有限公司提名并经公司董事会提名委员会资格审查，提名张 丹女士（简历详见附件）为公司第二届董事会非独立董事候选人，任期自公司股 东大会选举通过之日起至第二届董事会届满之日止。 公司于 2025 年 8 月 25 日召开第二届董事会第八次会议，审议并通过了《关 于提名张丹为公司第二届董事会非独立董事候选人的议案》，该议案尚需提交股 东大会审议。 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 ...

证券代码：688549 证券简称：中巨芯 公告编号：2025-026 中巨芯科技股份有限公司 关于放弃优先购买权暨关联交易的公告 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： 中巨芯科技股份有限公司（以下简称"公司"）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向晶恒希道增资 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司（以下简称"云德半导体"）放弃对晶恒希道本次增资 扩股的优先购买权。本次增资后，晶恒希道仍为公司的重要参股子公司，公司对 晶恒希道的持股比例由 49.81%变为 44.75%，最终持股比例以工商变更登记为准。 本次增资不构成《上市公司重大资产重组管理办法》规定的重大资产重 组。本次交易实施不存在重大法律障碍。 本次关联交易已经公司第二届董事会独立 ...

证券代码：688549 证券简称：中巨芯 公告编号：2025-024 中巨芯科技股份有限公司 2025 年半年度募集资金存放、管理与实际使用情况 专项报告 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。 根据《上市公司募集资金监管规则》《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》的规定，以及《中巨芯科技股份有限公司募集资 金管理制度》（以下简称"《募集资金管理制度》"）的规定，现中巨芯科技股 份有限公司（以下简称"公司"）将 2025 年半年度募集资金存放、管理与实际 使用情况专项说明如下： 一、募集资金基本情况 (一) 实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意中巨芯科技股份有限公司首次公开 发行股票注册的批复》（证监许可〔2023〕1278 号），公司首次向社会公众公 开发行人民币普通股（A 股）股票 369,319,000 股，每股面值 1 元，发行价为每 股人民币 5.18 元，募集资金总额为 1,913,072,420.00 元，坐扣保荐和承销费用（不 含税）89 ...

一、募集资金基本情况 根据中国证券监督管理委员会于 2023 年 6 月 13 日出具的《关于同意中巨芯 科技股份有限公司首次公开发行股票注册的批复》（证监许可〔2023〕1278 号）， 同意公司首次公开发行股票的注册申请，公司首次向社会公开发行人民币普通股 （A 股）36,931.90 万股，每股发行价格为人民币 5.18 元，募集资金总额为人民 币 1,913,072,420.00 元，扣除发行费用人民币 106,322,101.94 元（不含税），实 际募集资金净额为人民币 1,806,750,318.06 元。上述募集资金已于 2023 年 9 月 1 日全部到位，经天健会计师事务所（特殊普通合伙）审验，并出具了《验资报告》 （天健验〔2023〕第 467 号）。公司已对上述募集资金进行了专户存储，并与保 荐机构、存放募集资金的银行签署了募集资金专户存储的相关监管协议。 二、募集资金使用情况 证券代码：688549 证券简称：中巨芯 公告编号：2025-025 中巨芯科技股份有限公司 关于继续使用暂时闲置募集资金（含超募资金）和自 有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 ...