本资产评估报告依据中国资产评估准则编制 成都高投芯未半导体有限公司拟出租部分资产所涉及物 业的市场租金评估项目 资 产 评 估 报 告 中联川评报宇[2025]第 149 号 中联资产评估集团四川有限公司 二〇二五年十二月三日 成都高投芯未半导体有限公司拟出租部分资产所涉及物业的市场租金评估项目·资产评估报告 | | | | 声 | 明 . | | --- | --- | | 摘 | 要 . | | 资 产 评 估 报 告 | | | 一、 | 委托人、产权持有人和其他资产评估报告使用人概况 | | ニ、 | 评估目的 . | | = 、 | 评估对象和评估范围 . | | 四、价值类型及其定义………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………12 | | | 五、评估基准日 | | | 六、 | 评估依据 | | 七、评估方法 | | | 八、评估程序实施过程和情况………………………………………………………………………………………………………………17 | | | 九、评估 ...

根据本次转让资产一揽子交易方案，按照中联资产评估集团四川有限公司出具的《成都高投芯未半导体 有限公司拟转让设备类资产评估项目资产评估报告》（中联川评报字[2025]第146号），截至2025年9月 30日，本次标的资产账面价值17,361.92万元，评估值18,008.17万元（不含税），评估增值646.25万元， 增值率3.72%。经测算，本次标的资产转让含税价为20,349.23万元。同时，芯未公司将现有部分厂房出 租给高投集团用于标的资产运行，租赁期限自2026年1月1日起至2026年12月31日止，年度租金按照中联 资产评估集团四川有限公司出具的评估基准日为2025年9月30日的《成都高投芯未半导体有限公司拟出 租部分资产所涉及物业的市场租金评估项目资产评估报告》（中联川评报字[2025]第149号）评估价格 确定为522.75万元（含税价）。高投集团为公司控股股东，属于公司的关联方，本次交易构成关联交 易。本次关联交易不构成《上市公司重大资产重组管理办法》规定的重大资产重组。 格隆汇12月12日丨高新发展(000628.SZ)公布，为支持公司科技转型培育的功率半导体业务发展，提高 下属功率半导体设计 ...

Core Viewpoint - The company held its 28th temporary board meeting on December 10, 2025, where significant decisions regarding board leadership and management appointments were made [1][16]. Group 1: Board Leadership and Appointments - The board elected Sun Yingcai as the chairman for the 11th board, with a term aligned with the board's duration [2][4]. - Yang Yongbo was appointed as the general manager, effective from the date of the board's approval until the end of the 11th board's term [8][10]. - Guo Jiming was appointed as the board secretary, with a similar term as the general manager [10][12]. Group 2: Non-Independent Director Nominations - The board nominated Yang Yongbo, Zheng Yunguo, Li Meng, and Guo Jiming as candidates for non-independent directors, pending approval from the shareholders' meeting [4][5]. - The nomination process adhered to legal and regulatory requirements, ensuring all candidates met the necessary qualifications [5][6]. Group 3: Resignations - Several board members, including Wang Chengdong and Jia Wei, submitted their resignations due to work-related reasons, effective immediately upon submission [18]. - The resignations will not affect the board's operational capacity, as the remaining members meet the legal minimum requirements [18]. Group 4: Upcoming Shareholders' Meeting - The company plans to hold its fifth temporary shareholders' meeting on December 30, 2025, to discuss the nominated non-independent directors [12][23]. - The meeting will utilize both on-site and online voting methods, ensuring broader participation [23][25].

（编辑 楚丽君） 证券日报网讯 12月9日，高新发展在互动平台回答投资者提问时表示，公司始终高度重视廉洁防控工 作：一是扎紧制度笼子，完善廉洁规范与合规流程；二是织密监督网，整合党内、群众等多维监督力 量；三是夯实思想根基，常态化开展纪法宣讲与警示教育。 ...

（编辑 姚尧） 证券日报网讯 12月9日，高新发展在互动平台回答投资者提问时表示，根据中国证券登记结算有限责任 公司深圳分公司最新一期下发的股东名册，截至2025年11月28日，公司股东人数为57198户。 ...

Core Viewpoint - The conference highlighted the need for the chlor-alkali industry to address challenges such as regional imbalances, product structure issues, and the necessity for high-end product development during the "14th Five-Year Plan" period, advocating for a new paradigm of "high-end + collaborative" development [1][5]. Industry Overview - In 2024, there are 172 caustic soda production enterprises in China with a total capacity of 50.1 million tons, including an increase of 1.69 million tons. In the first half of 2025, the market remained stable with an additional 450,000 tons of capacity and a year-on-year production increase of 4.8%, reaching 22.67 million tons [2]. Market Supply and Demand - The South China caustic soda market is characterized by insufficient local production and reliance on external supply, with total capacity at 2.87 million tons, accounting for 5.69% of national capacity. The demand in Guangdong has surpassed 2 million tons, necessitating external support [3]. - The Guangxi region has a total caustic soda capacity of 1.145 million tons, primarily driven by the aluminum oxide industry, which is expected to see a significant increase in demand due to new production capacities coming online [3]. - The Fujian region has a caustic soda capacity of 1.44 million tons, meeting some local demand, while emerging industries like new energy and electronics are increasing the demand for caustic soda [3]. Systemic Challenges - The chlor-alkali industry faces systemic challenges including product structure imbalance, intensified market competition, and ongoing environmental constraints. Despite increased production and supply, key chlorinated products are operating below 70% capacity, indicating a persistent "alkali-chlorine imbalance" [5][6]. Development Strategies - To address these challenges, the industry must focus on expanding downstream products with high chlorine consumption and developing high-value, differentiated fine chemical products [6]. - The industry is urged to optimize market layouts to achieve supply-demand balance, enhance technological innovation for green development, and improve collaborative efficiency through smart transformation [7][8].

Market Overview - The housing construction sector experienced a slight decline of 0.02% compared to the previous trading day, with high-tech development leading the drop [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] Stock Performance - Notable stock performances in the housing construction sector included: - 重庆建工 (Chongqing Construction) rose by 1.57% to a closing price of 3.88 with a trading volume of 674,900 shares and a turnover of 263 million yuan [1] - 中国建筑 (China State Construction) increased by 0.19% to 5.25 with a trading volume of 1,148,700 shares and a turnover of 604 million yuan [1] - 高新发展 (High-tech Development) fell by 2.35% to 43.60 with a trading volume of 35,700 shares and a turnover of 157 million yuan [1] Capital Flow - The housing construction sector saw a net outflow of 98.94 million yuan from institutional investors, while retail investors contributed a net inflow of 83.80 million yuan [1] - The detailed capital flow for selected stocks showed: - 高新发展 (High-tech Development) had a net outflow of 23.69 million yuan from institutional investors, with a retail net inflow of 9.86 million yuan [2] - 上海建工 (Shanghai Construction) experienced a significant net outflow of 47.66 million yuan from institutional investors, while retail investors contributed a net inflow of 40.08 million yuan [2]

Core Insights - The housing construction sector experienced a rise of 0.65% on December 1, with China State Construction leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Sector Performance - The housing construction sector saw a net inflow of 58.82 million yuan from main funds, while retail and speculative funds experienced net outflows of 29.59 million yuan and 29.23 million yuan, respectively [1] - Key stocks in the housing construction sector and their performance include: - China State Construction (601668): Closed at 5.24 yuan, up 0.77%, with a trading volume of 1.55 million shares and a turnover of 812 million yuan [1] - Shanghai Construction (600170): Closed at 2.78 yuan, up 0.72%, with a trading volume of 1.49 million shares and a turnover of 411 million yuan [1] - Shaanxi Construction (600248): Closed at 3.72 yuan, up 0.27%, with a trading volume of 99,900 shares and a turnover of 37.07 million yuan [1] Fund Flow Analysis - Main fund inflows and outflows for selected stocks in the housing construction sector: - Shanghai Construction (600170): Main fund inflow of 53.12 million yuan, speculative fund outflow of 18.29 million yuan, and retail fund outflow of 34.83 million yuan [2] - China State Construction (601668): Main fund inflow of 12.68 million yuan, speculative fund outflow of 20.99 million yuan, and retail fund inflow of 8.32 million yuan [2] - Longyuan Construction (600491): Main fund outflow of 1.91 million yuan, speculative fund outflow of 0.30 million yuan, and retail fund inflow of 2.21 million yuan [2]

Market Overview - The housing construction sector increased by 0.05% compared to the previous trading day, with Gao Xin Development leading the gains [1] - The Shanghai Composite Index closed at 3870.02, up by 0.87%, while the Shenzhen Component Index closed at 12777.31, up by 1.53% [1] Stock Performance - Key stocks in the housing construction sector showed varied performance, with Gao Xin Development closing at 44.28, up by 1.40%, and other notable stocks including Ningbo Construction and Shanghai Construction with increases of 0.57% and 0.36% respectively [1] - The trading volume and turnover for Gao Xin Development reached 50,000 shares and 221 million yuan respectively, indicating strong market interest [1] Capital Flow Analysis - The housing construction sector experienced a net outflow of 46.14 million yuan from main funds, while retail investors saw a net outflow of 1.36 billion yuan [1] - Conversely, speculative funds recorded a net inflow of 1.41 billion yuan, suggesting a shift in investment strategy among different investor types [1] Individual Stock Capital Flow - China State Construction saw a net inflow of 20.09 million yuan from main funds, while Gao Xin Development had a net inflow of 10.82 million yuan [2] - Zhejiang Construction experienced a net inflow of 1.46 million yuan from main funds, but also had significant outflows from retail investors [2] - Shanghai Construction faced the largest net outflow from main funds at 22.35 million yuan, indicating potential concerns among institutional investors [2]

Core Viewpoint - The housing construction sector experienced a slight increase of 0.59% on November 24, with Shanghai Construction leading the gains, while the overall market indices showed modest growth [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3836.77, up 0.05% [1] - The Shenzhen Component Index closed at 12585.08, up 0.37% [1] - The housing construction sector's individual stock performance is detailed in a table, highlighting various companies' closing prices and percentage changes [1] Group 2: Stock Performance - Shanghai Construction (600170) closed at 2.76, with a rise of 1.85% and a trading volume of 1.7342 million shares, totaling a transaction value of 47.6 million [1] - High-tech Development (000628) closed at 43.67, up 1.79%, with a trading volume of 50,200 shares and a transaction value of 217 million [1] - Zhejiang Construction Investment (002761) closed at 9.24, up 1.54%, with a trading volume of 139,000 shares and a transaction value of 128 million [1] - Other notable performances include Ningbo Construction (601789) at 5.26 (+1.15%), Chongqing Construction (600939) at 3.55 (+1.14%), and China State Construction (601668) at 5.27 (+0.38%) [1] Group 3: Capital Flow - The housing construction sector saw a net outflow of 42.0469 million from institutional investors and 39.3414 million from speculative investors, while retail investors contributed a net inflow of 81.3883 million [1] - A detailed table shows the net capital flow for individual stocks, indicating varying levels of institutional, speculative, and retail investor activity [2]