合肥芯碁微电子装备股份有限公司 董事会审计委员会工作制度 （H股发行并上市后适用） 第 二 条 审计委员会是董事会下设的专门委员会，行使《公司法》规定的 监事会的职权。 第 三 条 审计委员会成员须保证足够的时间和精力履行委员会的工作职责， 勤勉尽责，切实有效地监督公司的外部审计,指导公司内部审计工作，促进公司 建立有效的内部控制并提供真实、准确、完整的财务报告。 第一章 总则 第 一 条 为规范公司董事会审计委员会的议事程序，充分保护公司和公司 股东的合法权益，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》"）、《企业内部控制基本 规范》、《上市公司章程指引》《香港联合交易所有限公司证券上市规则》（以 下简称"《香港联交所上市规则》"）等有关法律、法规、规章、规范性文件和 《合肥芯碁微电子装备股份有限公司章程》（以下简称"《公司章程》"）的规 定，结合公司实际情况，制定本工作制度。 第 四 条 公司须为审计委员会提供必要的工作条件，配备专门人员或机构 承担审计委员会的工作联络、会议组织、材料准备和档案管理等日常工作。审计 委员会履行职责时，公司管理层 ...

董事会提名委员会工作制度 （H股发行并上市后适用） 二○二五年八月 第一章 总则 第一条 为进一步建立健全合肥芯碁微电子装备股份有限公司（以下简称"公 司"）董事、高级管理人员的选择标准和程序，完善公司治理结构，根据《中华 人民共和国公司法》、《香港联合交易所有限公司证券上市规则》（以下简称"《香 港联交所上市规则》"）及《合肥芯碁微电子装备股份有限公司章程》（以下简 称"《公司章程》"）及其他有关法律、行政法规、部门规章和其他规范性文件 规定，公司特设立董事会提名委员会，并制定本工作制度。 第二条 提名委员会是董事会按照《公司章程》设立的董事会专门工作机构， 主要负责对公司董事（包括独立非执行董事）、高级管理人员的选任程序、标准 和任职资格进行审议并向董事会提出建议。 第二章 人员组成 合肥芯碁微电子装备股份有限公司 第六条 提名委员会设主任委员一名，由董事会主席或独立非执行董事委员 担任，由董事会批准产生。主任委员担任召集人，负责主持提名委员会工作。 第三条 提名委员会由至少三名董事组成，其中需包含一名性别不同的董事， 且独立非执行董事应当过半数。 第四条 提名委员会委员由董事长、1/2以上独立非执行董事 ...

合肥芯碁微电子装备股份有限公司 ESG 工作细则 第一章 总则 第一条 为适应合肥芯碁微电子装备股份有限公司（以下简称"公司"）的企 业战略与可持续发展需要，构建科学、系统、规范的环境、社会和治理（以下称 "ESG"）工作体系，提升公司在 ESG 方面的风险控制能力和价值创造能力，根 据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理准则》《上 市公司信息披露管理办法》《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》《上海证券交易所上市公司自律监管指引第 14 号——可持续发展报告 （试行）》《上海证券交易所科创板上市公司自律监管指南第 13 号——可持续发 展报告编制》《企业内部控制基本规范》等法律法规、准则规则以及《合肥芯碁 微电子装备股份有限公司章程》《合肥芯碁微电子装备股份有限公司信息披露事 务管理制度》的规定，结合公司实际情况，并制定本办法。 （三）公司设 ESG 领导小组，由公司总经理担任组长，副总经理担任副组 长，负责为战略委员会履行 ESG 相关工作职责提供保障和专业支持； （四）公司设 ESG 执行小组，由董事会秘书担任负责人，公司各部门、各 子公司（以下简称"各 ...

合肥芯碁微电子装备股份有限公司 董事会薪酬与考核委员会工作制度 （H股发行并上市后适用） 二○二五年八月 第一章 总则 第一条 为进一步建立健全合肥芯碁微电子装备股份有限公司（以下简称"公 司"）董事及高级管理人员的考核和薪酬管理制度，完善公司治理结构，根据《中 华人民共和国公司法》《香港联合交易所有限公司证券上市规则》《香港联合交 易所有限公司证券上市规则》（以下简称"《香港上市规则》"）及《合肥芯碁 微电子装备股份有限公司章程》（以下简称"《公司章程》"）及其他有关法律、 行政法规、部门规章和其他规范性文件规定，公司特设立董事会薪酬与考核委员 会，并制定本工作制度。 第二条 薪酬与考核委员会是董事会按照《公司章程》设立的专门工作机构， 主要负责制定公司董事及高级管理人员的考核标准并进行考核，负责制定、审查 公司董事及高级管理人员的薪酬政策与方案，对董事会负责。 第三条 本工作制度所称董事是指在公司领取薪酬的董事，高级管理人员是 指董事会聘任的经理、副经理、财务总监、董事会秘书及董事会聘任的其他人员 高级管理人员，未在公司领取薪酬的董事不在本工作制度的考核范围内。 第二章 人员组成 第六条 薪酬与考核委员会 ...

Core Viewpoint - The company plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy, diversify financing channels, and improve its core competitiveness [1] Group 1 - The company aims to deepen its global strategic layout and enhance its international brand image [1] - The issuance of H-shares is intended to diversify the company's financing channels [1] - The company will consider the interests of existing shareholders and the conditions of domestic and foreign capital markets during the issuance process [1] Group 2 - The company will complete the issuance and listing of H-shares within 18 months from the date of approval by the shareholders' meeting [1] - The timing and window for the issuance will be chosen appropriately [1]

Core Viewpoint - The company plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy, diversify financing channels, and improve its core competitiveness [1] Group 1 - The company aims to deepen its global strategic layout and enhance its international brand image [1] - The issuance of H-shares is intended to diversify the company's financing channels [1] - The company will consider the interests of existing shareholders and the conditions of domestic and foreign capital markets during the issuance process [1] Group 2 - The company will complete the issuance and listing of H-shares within 18 months following the approval of the shareholders' meeting [1] - The timing and window for the issuance will be chosen appropriately [1]

Core Viewpoint - The company plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy, improve international brand image, and strengthen financing channels and core competitiveness [1] Group 1 - The board and supervisory committee have approved the relevant proposal, but specific details are yet to be determined [1] - The issuance will require approval from the shareholders' meeting and regulatory bodies such as the China Securities Regulatory Commission and the Hong Kong Stock Exchange [1] - The company will disclose further developments in a timely manner due to significant uncertainties involved [1]

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [2][9]. Core Insights - The PCB industry is experiencing continuous expansion driven by the demand for AI computing infrastructure, with major companies like Huadian and Shenghong investing significantly in new projects [3]. - The expansion is primarily focused on high-layer HDI boards, leading to increased requirements for equipment quantity and pricing [3]. - The exposure segment of PCB equipment, which accounts for 10%-15% of the total equipment value, is seeing higher demand for advanced exposure equipment due to stricter requirements from high-end PCB boards [3]. - The drilling segment, which constitutes about 25% of PCB equipment value, is benefiting from the increasing complexity of PCB designs, with a shift towards laser drilling technology [3]. - The PCB drill needle market is experiencing growth due to the surge in AI demand, prompting manufacturers to expand production capacity [3]. - The electroplating segment, which represents around 10% of PCB equipment value, is seeing increased demand for high-end equipment as AI applications require thicker copper and finer lines [3]. Summary by Sections PCB Expansion - Continuous expansion in the PCB sector is driven by AI computing needs, with significant investments from leading companies [3]. Exposure Equipment - Exposure equipment is critical for high-end PCB production, with domestic companies improving their capabilities to meet rising demands [3]. Drilling Equipment - The drilling process is evolving with a shift towards laser technology, driven by the need for smaller apertures and tighter tolerances in PCB manufacturing [3]. Drill Needles - The demand for high-quality drill needles is increasing, with manufacturers ramping up production to meet the needs of upgraded AI server PCBs [3]. Electroplating Equipment - The demand for advanced electroplating equipment is growing, particularly for high-end applications in the AI sector [3].

Investment Rating - The investment rating for the company is "Buy" with a market price of RMB 135.00 and a sector rating of "Outperform" [1][3]. Core Views - The company is expected to benefit from the PCB expansion wave driven by AI, as the CoWoP technology pushes for upgrades in PCB processes, leading to increased demand for drilling equipment [3][8]. - The company is actively entering the drilling equipment sector to establish a second growth curve, maintaining a "Buy" rating [3][5]. Financial Projections - The company's revenue is projected to grow significantly, with estimates of RMB 1,479 million in 2025, representing a growth rate of 55.1% [7]. - The EPS estimates have been raised to RMB 2.21 for 2025, RMB 3.25 for 2026, and RMB 4.17 for 2027, reflecting increases of 5.7%, 18.2%, and 23.7% respectively [5][7]. - The company's total market capitalization is approximately RMB 178 billion, with corresponding PE ratios of 61.2, 41.5, and 32.4 for 2025, 2026, and 2027 [5][7]. Market Dynamics - The global market for multilayer boards and HDI boards is expected to reach USD 24.21 billion and USD 12.518 billion in 2024, with growth rates of 40.2% and 18.8% respectively, driven by demand from AI servers and high-speed network devices [8]. - The company is launching new drilling equipment, which is anticipated to help penetrate the new market segment and further expand growth opportunities [8].

Group 1 - The total margin balance of the STAR Market reached 176.24 billion yuan on August 5, an increase of 1.34 billion yuan from the previous trading day [1] - The financing balance amounted to 175.63 billion yuan, up by 1.35 billion yuan, while the securities lending balance decreased to 0.62 billion yuan, down by 0.01 billion yuan [1] - A total of 307 STAR Market stocks experienced net financing purchases, with 19 stocks having net purchases exceeding 30 million yuan [1] Group 2 - Dongxin Technology topped the list with a net financing purchase of 103 million yuan, followed by Borui Pharmaceutical, Zhuhai Guanyu, Huahong Semiconductor, Haiguang Information, Shengyi Electronics, and Chipone Technology with net purchases of 84.22 million yuan, 80.13 million yuan, 79.03 million yuan, 73.75 million yuan, 67.11 million yuan, and 58.72 million yuan respectively [1]