证券代码：688729 证券简称：屹唐股份 公告编号：2025-018 北京屹唐半导体科技股份有限公司 2025年第四次临时股东会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 12 月 15 日 （二） 股东会召开的地点：北京市北京经济技术开发区瑞合西二路 9 号北京屹 唐半导体科技股份有限公司多功能厅 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 281 | | --- | --- | | 普通股股东人数 | 281 | | 2、出席会议的股东所持有的表决权数量 | 2,194,670,300 | | 普通股股东所持有表决权数量 | 2,194,670,300 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 74.2557 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权 ...

北京市金杜律师事务所 关于北京屹唐半导体科技股份有限公司 2025 年第四次临时股东会 之法律意见书 致：北京屹唐半导体科技股份有限公司 公司已向本所保证，公司已向本所披露一切足以影响本法律意见书出具的事 实并提供了本所为出具本法律意见书所要求公司提供的原始书面材料、副本材料、 复印材料、承诺函或证明，并无隐瞒记载、虚假陈述和重大遗漏之处；公司提供给 本所的文件和材料是真实、准确、完整和有效的，且文件材料为副本或复印件的， 其与原件一致和相符。 北京市金杜律师事务所（以下简称本所）接受北京屹唐半导体科技股份有限公 司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会（以 下简称中国证监会）《上市公司股东会规则（2025 年修订）》（以下简称《股东会规 则》）等中华人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包 括中国香港特别行政区、中国澳门特别行政区和中国台湾省）现行有效的法律、行 政法规、规章、规范性文件和《北京屹唐半导体科技股份有限公司章程》（以下简 称《公司章程》）有关规定，指派律师出席了公司于 ...

Group 1 - The core viewpoint of the articles highlights the fundraising activities of companies listed on the STAR Market, with a total of 17 companies raising 35.089 billion yuan this year, averaging 2.064 billion yuan per company [1][2] - Among the companies, Moer Technology raised the most at 8 billion yuan, primarily for cash management and the development of AI training chips and graphics chips [1] - Other notable fundraisers include Xian Yicai with 4.636 billion yuan for its silicon industry base project, and Muxi Co., Ltd. with 4.197 billion yuan [1] Group 2 - The average initial offering price for STAR Market stocks this year is 36.56 yuan, with four companies priced above 50 yuan, and two exceeding 100 yuan, the highest being Moer Technology at 114.28 yuan [2] - The issued price-earnings ratio ranges from 6.14 to 519.12, with an average of 83.91 and a median of 42.64, where C Bai Ao has the highest ratio at 519.12 [2] - Geographically, the majority of the issued companies are concentrated in Beijing, Hubei, and Guangdong, with fundraising amounts led by Beijing at 14.692 billion yuan [2]

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [4] Core Viewpoints - The company maintains a strong position in its core business, leading globally in dry stripping and rapid thermal processing (RTP) with a market share of approximately 35% in dry stripping, ranking second globally, and about 13% in RTP, with a long-term gross margin above 40% [2] - The etching segment is expected to become a new growth driver, with significant breakthroughs in differentiated ICP technology, including the newly launched RENA-E etching equipment, which has received bulk orders, and the commercial introduction of atomic-level surface treatment equipment, Escala [2] - The company benefits from local supply chain advantages, leading to higher gross margins domestically compared to overseas operations, and has increased inventory to 3.69 billion yuan to meet strong downstream demand [3] Financial Summary - For the first three quarters, the company achieved revenue of 3.796 billion yuan, a year-on-year increase of 14.01%, and a net profit attributable to shareholders of 516 million yuan, up 22.73% year-on-year [1] - The forecasted net profits for 2025, 2026, and 2027 are expected to be 660 million yuan, 884 million yuan, and 1.275 billion yuan, respectively, with corresponding P/E ratios of 116, 86, and 60 times [3][4] - The company’s revenue is projected to grow from 4.633 billion yuan in 2024 to 7.999 billion yuan in 2027, reflecting a compound annual growth rate of 26.51% [11]

Core Insights - The total amount raised by companies on the Sci-Tech Innovation Board (STAR Market) this year has reached 34.31 billion yuan, with an average fundraising of 2.144 billion yuan per company [1][2] - C Moore has raised the highest amount at 8 billion yuan, primarily for the development of AI chip projects [1] - The average initial offering price for STAR Market stocks this year is 37.68 yuan, with four companies priced above 50 yuan [2] Fundraising Overview - A total of 16 companies have issued new shares on the STAR Market this year, with 12 companies raising over 1 billion yuan and 3 companies raising between 500 million yuan and 1 billion yuan [1] - The companies with significant fundraising include C Moore (8 billion yuan), Xi'an Yicai (4.636 billion yuan), and Muxi Co., Ltd. (4.197 billion yuan) [1] Pricing and Valuation - The average initial price of STAR Market stocks is 37.68 yuan, with C Moore having the highest price at 114.28 yuan [2] - The issued price-to-earnings (P/E) ratio ranges from 6.14 to 519.12, with an average of 86.10 and a median of 41.55 [2] - The highest P/E ratio is recorded by Bai Ao Sai Tu at 519.12, with 50% of the companies having a P/E ratio above the industry average [2] Geographic Distribution - The majority of the companies listed on the STAR Market this year are concentrated in Beijing (5 companies), Hubei (2 companies), and Guangdong (2 companies) [2] - The top fundraising regions are Beijing (14.692 billion yuan), Shaanxi (4.636 billion yuan), and Shanghai (4.197 billion yuan) [2]

Summary of Yitang Co., Ltd. Conference Call Company Overview - Yitang Co., Ltd. is a leading semiconductor equipment supplier in China, focusing on three main platforms: stripping, thermal processing, and etching. The products are utilized by top manufacturers in memory and advanced logic chip production, benefiting from domestic substitution and downstream customer expansion [2][3]. Key Business Segments Stripping Equipment - Yitang's stripping equipment includes three series: Suprema, Hydrasys, and Optimax, addressing customer needs for photoresist removal. The dry stripping technology has a market share of 34.6%, ranking second globally, and is applied in TSMC's 5nm and 3nm processes [2][5]. Thermal Processing (RTP) - The RTP equipment, including Helios and Melius series, is used to activate the electrical properties of silicon wafers. Yitang holds a 13% market share in the global RTP market, ranking second. The technology covers spike annealing, isothermal annealing, and millisecond annealing [2][6]. Etching and Surface Treatment - Etching and surface treatment are identified as new growth points. Yitang offers ICP and CCP etching, along with differentiated atomic-level surface treatment and high selectivity etching technologies to meet advanced process customer needs [2][7]. Financial Performance - Since 2018, Yitang has maintained rapid growth, with projected revenue of 500 million RMB in 2024, reflecting a compound annual growth rate (CAGR) of 68.5%. Revenue for the first three quarters of 2023 reached 520 million RMB, with etching equipment revenue increasing to 12.5% of total revenue [4][10]. Market Trends - The global semiconductor equipment market is expected to rebound, reaching $138 billion by 2026, with China accounting for 42% of the demand. The increase in domestic production rates will benefit companies like Yitang, presenting significant growth opportunities [4][11]. Team and Shareholding Structure - Yitang has a clear shareholding structure, with Beijing Yizhuang Guotou as the largest shareholder. The team is experienced, with the CEO having a background in equipment R&D at Marvell Technology and Intel, and the management team possessing over 20 years of experience in fab management [2][8]. Future Outlook - The company plans to leverage its existing technology in stripping to expand into etching equipment, anticipating significant demand growth due to the increasing complexity of chip manufacturing processes. The etching equipment market is projected to exceed $30 billion by 2032 [13][14]. Investment Plans - In 2025, Yitang plans to raise 2.5 billion RMB, focusing on etching and surface treatment equipment. The new Rina-1 platform has already received bulk orders from clients [15]. Product Development - Yitang currently holds a 0.21% global market share but expects to increase this as it expands its product offerings. The company is also exploring atomic-level surface treatment for advanced logic processes, which is anticipated to grow in demand as technology evolves [16].

2025 年第四次临时股东会会议资料 2025 年 12 月 | 议案三：关于修订部分公司治理制度的议案 8 | | --- | 股票代码：688729 股票简称：屹唐股份 北京屹唐半导体科技股份有限公司 北京屹唐半导体科技股份有限公司 2025 年第四次临时股东会会议须知 为维护北京屹唐半导体科技股份有限公司（以下简称"公司"）全体股东的 合法权益，确保股东会的正常秩序和议事效率，保证本次会议的顺利进行，根据 《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股东会规则》 以及《北京屹唐半导体科技股份有限公司章程》《北京屹唐半导体科技股份有限 公司股东会议事规则》等相关规定，特制定本次股东会须知如下： 一、为确认出席会议的股东或其代理人或其他出席者的出席资格，会议工作 人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次会议的严肃性和正常秩序，切实维护股东的合法权益，请出 席会议的股东或其代理人或其他出席者准时到达会场签到确认参会资格。会议开 始后，会议登记应当终止，由会议主持人宣布现场出席会议的股东和代理人人数 及所持有的表决权数量。 三、会议按照会议通知上所列顺序审议 ...

Group 1 - The core viewpoint of the news is that Yitang Co., Ltd. has experienced a continuous increase in stock price, rising 0.73% to 24.81 yuan per share, with a total market value of 73.327 billion yuan and a cumulative increase of 6.16% over six days [1] - Yitang Co., Ltd. specializes in the research, production, and sales of wafer processing equipment necessary for integrated circuit manufacturing, providing solutions including dry stripping equipment, rapid thermal processing equipment, and dry etching equipment [1] - The company's main business revenue composition includes 77.21% from specialized equipment sales, 20.28% from spare parts sales, 2.49% from service income, and 0.02% from licensing fees [1] Group 2 - Southern Fund's Southern CSI Robot ETF has Yitang Co., Ltd. as its third-largest holding, with 2,471 shares, representing 0.0009% of the circulating shares, and has generated a floating profit of approximately 444.78 yuan today [2] - The Southern CSI Robot ETF has achieved a year-to-date return of 21.5%, ranking 2302 out of 4207 in its category, and a one-year return of 26.6%, ranking 1631 out of 4009 [2] - The fund manager, Pan Shuiyang, has a total asset scale of 78.28 billion yuan, with the best fund return during his tenure being 88.04% and the worst being -6.44% [3]

Core Insights - The total amount raised by companies on the STAR Market this year has reached 27.013 billion yuan, with an average fundraising of 2.078 billion yuan per company [1][2] - The company with the highest fundraising amount is Moer Technology, which raised 8 billion yuan primarily for AI chip development projects [1] - The average initial offering price of STAR Market stocks this year is 27.96 yuan, with the highest being 114.28 yuan for Moer Technology [1][2] Fundraising Overview - A total of 13 companies have issued new shares on the STAR Market this year, with 9 companies raising over 1 billion yuan and 3 companies raising between 500 million yuan and 1 billion yuan [1] - The companies with significant fundraising amounts include Moer Technology (8 billion yuan), Xi'an Yicai (4.636 billion yuan), and Heyuan Bio (2.599 billion yuan) [1] Pricing and Valuation - The average issuance price-to-earnings (P/E) ratio for the issued STAR Market companies is 88.97 times, with a median of 40.46 times [2] - The highest P/E ratio recorded is 519.12 times for Bai'ao Saitou, with 4 companies exceeding the industry average P/E ratio [2] Geographic Distribution - The majority of the issued STAR Market companies are concentrated in Beijing, Hubei, and Guangdong, with 4, 2, and 2 companies respectively [2] - The top fundraising regions are Beijing (12.625 billion yuan), Shaanxi (4.636 billion yuan), and Hubei (3.767 billion yuan) [2]

证券代码：688729 证券简称：屹唐股份 公告编号：2025-017 北京屹唐半导体科技股份有限公司 关于召开2025年第四次临时股东会的通知 本公司董事会及全体董事保证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。 召开地点：北京市北京经济技术开发区瑞合西二路 9 号北京屹唐半导体科技 股份有限公司多功能厅 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 重要内容提示： 一、 召开会议的基本情况 （一） 股东会类型和届次 2025年第四次临时股东会 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 12 月 15 日 15 点 00 分 网络投票起止时间：自2025 年 12 月 15 日 至2025 年 12 月 15 日 股东会召开日期：2025年12月15日 本次股东会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 采用上海证券交易所网络投票系统，通过交易系 ...