证券代码：688630 证券简称：芯碁微装 公告编号：2025-044 合肥芯碁微电子装备股份有限公司 第三届董事会第二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依 法承担法律责任。 一、董事会会议召开情况 合肥芯碁微电子装备股份有限公司（以下简称"公司"）第三届 董事会第二次会议于 2025 年 9 月 19 日以电子邮件方式向全体董事发 出通知，2025 年 9 月 26 日在公司会议室以现场结合通讯的方式召开。 会议应出席董事 9 名，实际出席董事 9 名，会议由董事长程卓召集并 主持。本次会议召开符合《中华人民共和国公司法》（以下简称"《公 司法》"）等法律法规及《公司章程》的有关规定。 二、董事会会议审议情况 （一）审议通过《关于公司<2025 年员工持股计划（草案）>及 其摘要的议案》 经审议，董事会认为：为建立和完善员工、股东的利益共享机制， 改善公司治理水平，提高职工的凝聚力和公司竞争力，调动员工的积 1 极性和创造性，促进公司长期、持续、健康发展，公司董事会根据《中 公司法》《中华人民共和国证券法》《关 ...

Company Overview - Chipone Microelectronics Equipment Co., Ltd. is located in Hefei, Anhui Province, China, and was established on June 30, 2015. The company went public on April 1, 2021. Its main business involves the research, development, manufacturing, sales, and maintenance services of direct imaging equipment and direct-write lithography equipment, with a focus on micro-nano direct-write lithography technology [1] - The company's primary products include PCB direct imaging equipment, semiconductor direct-write lithography equipment, and other laser direct imaging devices, covering lithography processes from microns to nanometers. The revenue composition is 99.58% from laser direct-write imaging equipment and 0.42% from other supplementary services [1] Market Performance - On September 26, Chipone Microelectronics Equipment's stock fell by 5.01%, trading at 152.01 CNY per share, with a transaction volume of 534 million CNY and a turnover rate of 2.61%. The total market capitalization is 20.026 billion CNY [1] Fund Holdings - According to data, one fund under Guotai Fund holds a significant position in Chipone Microelectronics Equipment. The Guotai Industry Prosperity Flexible Allocation Mixed Fund (003593) held 205,500 shares in the second quarter, accounting for 4.93% of the fund's net value, making it the seventh-largest holding. The estimated floating loss today is approximately 1.6458 million CNY [2] - The Guotai Industry Prosperity Flexible Allocation Mixed Fund was established on March 20, 2017, with a current size of 331 million CNY. Year-to-date returns are 62.09%, ranking 576 out of 8,171 in its category. Over the past year, returns are 124.82%, ranking 249 out of 8,004, and since inception, returns are 245.17% [2]

Core Insights - The domestic semiconductor industry in China is experiencing significant breakthroughs in lithography machine localization, highlighted by the recent China International Industrial Expo where key products were showcased [1][3] - The domestic lithography machine industry is entering a year of explosive growth, with advancements in production capabilities and technology [3][4] Industry Developments - Shanghai Micro Electronics and Chip-on-Micro showcased major products, indicating a "0-1" breakthrough in the industry, with advanced packaging machines entering mass production and domestic EUV machines in the principle machine construction phase [3] - The domestic lithography machine has made significant progress in the 90nm and below process nodes, with Shanghai Micro Electronics achieving mass production of its 600 series lithography machine [3][4] - Collaborations, such as between Yuliangsheng and SMIC, signal important advancements in domestic lithography machine testing [3] Market Performance - The stock of Zhangjiang Hi-Tech (600895) hit a historical high, reflecting positive market sentiment towards lithography machine concepts [4] - The A-share market has over 40 stocks related to lithography machines, with institutions showing strong interest in companies like Chip-on-Micro, Jiangfeng Electronics, and others [6][7] Financial Projections - Analysts predict significant net profit growth for several companies in the lithography machine sector, with expectations of over 30% growth for firms like Fuchuang Precision and Tongfei Shares in 2026 and 2027 [6] - Companies such as Chip-on-Micro and Jiangfeng Electronics are also expected to see net profit growth exceeding 20% in the same period [6] Investment Trends - Leveraged funds have shown strong interest in stocks like Tengjing Technology and Chip-on-Micro, with net purchases exceeding 100 million yuan since September [7][8] - The demand for domestic lithography machines remains high, but the localization rate is still low, indicating potential for future growth [5]

Core Insights - As of September 23, a total of 99 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] - The stocks with the longest streak of net financing inflows are Dike Co., Ltd. and Jingwang Electronics, both achieving this for 12 consecutive trading days [1] - Other notable stocks with significant net financing inflows include Seres, Chipone Microelectronics, Dongtianwei, Huaxia Bank, Xiaogoods City, Shandong Publishing, Weiteng Electric, and Xutian Salt Industry [1]

Group 1 - The core viewpoint of the news is the performance and market position of Chipone Microelectronics, which saw a stock price increase of 5.69% to 165.00 CNY per share, with a total market capitalization of 21.737 billion CNY [1] - Chipone Microelectronics, established on June 30, 2015, specializes in the research, manufacturing, and sales of direct imaging equipment and related maintenance services, focusing on micro-nano direct writing lithography technology [1] - The company's main revenue source comes from laser direct writing imaging equipment, accounting for 99.58% of total revenue, with other supplementary services making up the remaining 0.42% [1] Group 2 - From the perspective of fund holdings, Chipone Microelectronics is a significant investment for Guotai Fund, with its Guotai Industry Flexibly Configured Mixed Fund (003593) holding 205,500 shares, representing 4.93% of the fund's net value [2] - The Guotai Industry Flexibly Configured Mixed Fund has shown impressive performance, with a year-to-date return of 55.31% and a one-year return of 122.29%, ranking 307 out of 7996 in its category [2] - The fund manager, Du Pei, has been in charge for 5 years and 142 days, achieving a best return of 119.58% during his tenure [3]

Group 1 - The core viewpoint is that photolithography concept stocks continue to be active, with notable price increases in several companies [1] - Zhangjiang Hi-Tech reached the daily limit and hit a new high [1] - Jiangfeng Electronics rose over 15%, indicating strong market interest [1] Group 2 - Other companies such as United Chemical, Pioneer Precision, Hongtian Shares, Fuchuang Precision, and Chipbond also experienced price increases [1]

Group 1 - The core viewpoint of the article highlights a significant surge in the stock prices of photolithography-related companies, indicating strong market interest and potential investment opportunities in this sector [1] Group 2 - Company Kemetek saw its stock price hit the daily limit, reflecting a robust investor sentiment [1] - Wavelength Optoelectronics experienced a rise of over 10%, showcasing positive market performance [1] - Other companies such as Guangli Micro, Zhangjiang Hi-Tech, New Lai Materials, Chipcore Microelectronics, and Kema Technology also followed suit with notable increases in their stock prices [1]

Core Insights - As of September 22, a total of 131 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] - The stock with the longest consecutive net inflow is Wuzhou Transportation, which has seen net buying for 12 consecutive trading days [1] - Other notable stocks with significant consecutive net inflows include Dongtianwei, Dike Co., Xinqi Microelectronics, China Merchants Securities, Seres, Jingwang Electronics, Zhongyan Chemical, and Huadian International [1]

Summary of Key Points from Conference Call Industry Overview - The global photolithography machine market is highly monopolized, with ASML holding a leading position. China faces technological blockades and supply chain dependencies but has a complete industrial system and substantial market demand, providing a foundation for domestic production [1][2][4]. Core Insights and Arguments - Chinese photolithography technology has surpassed the 65nm node and is advancing towards higher processes. Companies like Shanghai Micro Electronics are actively researching, and while progress on 28nm photolithography machines is not yet confirmed, achieving technological breakthroughs is considered a matter of time [1][5]. - The core components of photolithography machines include five major systems: optical, motion control, measurement, transmission, and environmental control. Companies such as Keyi Hongyuan, Su Da Weige, and Aopu Optoelectronics have made advancements in critical technology areas like laser light sources and nano-imprinting [1][6]. - Photolithography machines are crucial for the development of AI capabilities in China, directly impacting the country's advanced process development and future competitiveness in the AI era [2]. Investment Opportunities - Investors should focus on companies involved in laser devices, high-end lenses, motion control materials, nano-imprinting technology, laser interferometry, and robotics. Notable companies include Keyi Hongyuan, Su Da Weige, and Aopu Optoelectronics [1][8]. - The domestic photolithography industry includes companies like Chipbond Technology (PCB photolithography machines), Su Da Weige (nano-imprinting photolithography machines), Huazhuo Jingke (dual-workpiece stage), Keyi Hongyuan (laser light sources), and Jingfang Technology (semiconductor optical devices) [1][9]. Additional Important Content - The collaboration between Nvidia and Intel aims to enhance AI technology infrastructure and personal computing products, indicating a strengthening of ecosystem collaboration among global computing chip giants, which could significantly impact the future of the global computing industry [11]. - Domestic computing chip companies are actively promoting the construction of a domestic computing ecosystem, with companies like Haiguang Information opening up CPU capabilities and protocols to facilitate industry collaboration [12]. - Huawei's release of the Super Pod products signifies a major advancement in AI computing capabilities, with projections indicating that the Chinese AI chip market could grow to 153 billion yuan by 2025, with a compound annual growth rate of nearly 53% [13].

Core Viewpoint - The company, Chipbond Technology, is facing significant challenges despite its impressive revenue growth and market share, raising concerns about its financial health and the motivations behind recent shareholder actions [1][2][10]. Financial Performance - Revenue has shown consistent growth: 2022 at 652.3 million, 2023 at 828.9 million, and projected 2024 at 953.9 million, with a growth rate peaking at 45.6% in the first half of 2025 [6][8]. - However, the company has reported negative cash flow from operations since 2023, with losses of 129.4 million in 2023 and 71.6 million in 2024 [9]. - Accounts receivable have increased significantly, from 584 million in 2022 to 1.122 billion in the first half of 2025, with collection days extending from 260 to 361 days [6][8]. Market Position - Chipbond holds a 15% global market share in PCB direct imaging equipment, making it the largest supplier in this segment and the only company with a comprehensive business covering PCB, IC substrates, advanced packaging, and masks [4][6]. Shareholder Actions - Prior to the IPO, shareholders, including the founder, cashed out approximately 218 million, raising questions about their confidence in the company's future [7][8]. Research and Development - R&D expenditure as a percentage of revenue has been declining: 13% in 2022, 11.4% in 2023, and projected 10.2% in 2024, with only 9.3% in the first half of 2025, which contrasts with competitors who maintain higher R&D investment [8][9]. Operational Challenges - The company faces increasing inventory levels, rising from 300 million to 794 million, leading to longer turnover days and potential cash flow issues [6][8]. - The financial health of the company is under scrutiny, as it balances high revenue growth with significant operational and cash flow challenges [10].