Core Viewpoint - Suzhou Gude Electronic Co., Ltd. has responded to the Shenzhen Stock Exchange's inquiry regarding its application for a specific stock issuance, providing insights into key business aspects such as gross margin fluctuations, customer and supplier dependencies, and industry competition [1] Gross Margin Fluctuations and Response Strategies - The company experienced revenue growth but a declining overall gross margin during the reporting period. From 2022 to 2024, revenue increased due to the growth of the photovoltaic silver paste business, while the gross margin decreased. In the first half of 2025, the gross margin was 10.88%, a decrease of 1.30% year-on-year [2] - In the semiconductor business, revenue and gross margin declined from 2022 to 2024 due to industry downturns and market competition. However, in the first half of 2025, the gross margin rebounded to 14.93% due to increased sales and cost reduction efforts [2] - The photovoltaic silver paste business saw revenue growth from 2022 to 2024, but gross margin decreased due to intensified competition and cost pressures. In the first half of 2025, both revenue and gross margin declined due to operational strategy adjustments [2] - The company is enhancing R&D and market promotion in the semiconductor sector, while increasing R&D investment and expanding into overseas markets in the photovoltaic silver paste sector [2] - Integrated circuit packaging and testing products have had negative gross margins since 2023, primarily due to reduced demand in consumer electronics and pricing pressures. However, the company is implementing product upgrades and cost reduction strategies to improve the negative gross margin situation [2] Customer and Supplier Situation - The company has a high concentration of its top five customers, which is typical in the solar cell industry. The relationships with major customers are stable and do not involve significant dependency [3] - Similarly, the top five suppliers also have a high concentration, primarily sourcing photovoltaic silver powder, which aligns with industry characteristics. The relationships with suppliers are stable and do not involve significant dependency [3] Sales Model and Distribution Business - The company primarily operates on a direct sales model. In the semiconductor business, the gross margin from distribution is higher than that from direct sales due to a higher proportion of overseas customers, leading to better pricing and margins [4] - In the photovoltaic silver paste business, the gross margin from direct sales is lower than that from distribution, as distribution products mainly consist of HJT low-temperature silver paste, which has a higher gross margin, although distribution revenue is minimal [4] - Changes in major distributors are minimal, and there are no related party relationships with the company's directors and supervisors. The distribution business is clearly defined and complies with industry norms, with various verification procedures ensuring authenticity [4] Accounts Receivable and Bad Debt Provisions - The company has a reasonable basis for calculating the bad debt provision on an individual basis, considering customer operating conditions and debt settlement agreements. The bad debt provisions at the end of each period are sufficient and are reasonable compared to comparable companies in the industry [5] Prepayments and Inventory Situation - Prepayments mainly consist of advance payments for goods, with a significant reduction in the balance by the end of 2024 due to changes in settlement methods and decreased procurement volumes. The provision for inventory impairment for photovoltaic silver paste products is lower than the industry average, indicating reasonableness, and the company has adequately provided for inventory impairment [6] Fixed Assets and Period Expenses - During the reporting period, the company adequately provided for fixed asset impairment, in line with industry practices. R&D expenses increased due to team building and material investments, while financial expenses remained stable in 2023 and 2024, influenced by interest expenses, revenue, and exchange gains and losses. Sales expenses related to business promotion decreased in 2024 due to reduced sales agency fees in the photovoltaic silver paste business [7] Industry Competition and Financial Investments - There is no significant adverse impact from competition with Suzhou Silicon Energy and Suzhou Jingxun. The company has disclosed commitments and measures to avoid competition, which are complete and feasible. The implementation of the fundraising projects will not introduce significant adverse competition [9] - As of June 30, 2025, the company has financial investments totaling 149.26 million yuan, accounting for 4.88% of the latest net assets attributable to the parent company, which is not considered a large financial investment [9]

证券简称：苏州固锝 证券代码：002079 苏州固锝电子股份有限公司 （江苏省苏州市通安开发区通锡路 31 号） 2024 年度向特定对象发行 A 股股票 募集说明书 （修订稿） 保荐机构（主承销商） （广东省广州市黄埔区中新广州知识城腾飞一街 2 号 618 室） 二〇二五年八月 苏州固锝电子股份有限公司 募集说明书 声 明 本公司及全体董事、监事、高级管理人员承诺募集说明书及其他信息披露 资料不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及 完整性承担相应的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财 务会计资料真实、完整。 中国证监会、深圳证券交易所对本次发行所作的任何决定或意见，均不表 明其对申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明 其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由 发行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担证券依法发行后因发行人经营与收益变化或者证券价格变动 ...

关 于 苏 州 固 锝 电 子 股 份 有 限 公 司 2024 年 度 向 特 定 对 象 发 行 A 股 股 票 的 补 充 法 律 意 见 书 （ 二 ） 南京市建邺区贤坤路江岛智立方 C 座 4 层 邮编： 2 10019 电话： + 8 6 2 5 - 86633108 传真： + 8 6 2 5 - 8 3 3 2 9 3 3 5 江苏世纪同仁律师事务所 补充法律意见书（二） 江苏世纪同仁律师事务所 关于苏州固锝电子股份有限公司 2024 年度向特定对象发行 A 股股票的 补充法律意见书（二） 致：苏州固锝电子股份有限公司 根据《证券法》《公司法》等有关法律、法规和中国证券监督管理委员会发 布的《注册管理办法》《公开发行证券公司信息披露的编报规则第 12 号—公开 发行证券的法律意见书和律师工作报告》以及中国证监会、司法部共同发布的《律 师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规则（试 行）》等有关规定，本所受公司委托，作为公司本次发行的特聘专项法律顾问， 就本次发行事宜，本所已于 2025 年 5 月 20 日出具了《江苏世纪同仁律师事务所 关于苏州固锝电子股份有限公司 ...

立信会计师事务所（特殊普通合伙） 关于苏州固锝电子股份有限公司 申请向特定对象发行股票的审核问询函的回复 信会师函字[2025]第 ZA416 号 深圳证券交易所： 按照贵所审核函〔2025〕120023 号《关于苏州固锝电子股份有 限公司申请向特定对象发行股票的审核问询函》的相关要求。立信会 计师事务所（特殊普通合伙）（以下简称"我们"或"本所"）已对审核 问询函中提出由申报会计师进行核查并发表意见的问题进行了审慎 核查，具体回复如下： | 问题 | 1 2 | | --- | --- | | 问题 | 2 118 | 问题 1 申报材料显示，除新硅能微电子（苏州）有限公司外，发行人控股股东、 实际控制人及其一致行动人控制的其他企业与发行人及其控股子公司不存在经 营相同或相似业务的情形。发行人控股股东作为第一大股东投资的苏州硅能半 导体科技股份有限公司、苏州晶讯科技股份有限公司经营范围包括集成电路、 功率半导体芯片和器件、半导体器件等。报告期末，发行人交易性金融资产账 面价值为 21,719.22 万元，债权投资、一年内到期的非流动资产账面价值为 30,852.06 万元，其他货币资金账面价值为 7,100 ...

广发证券股份有限公司 关于苏州固锝电子股份有限公司 2024 年度向特定对象发行 A 股股票 之 上市保荐书 二〇二五年八月 3-3-2 | 目 | 录 1 | | --- | --- | | 声 | 明 2 | | 第一节 | 本次证券发行基本情况 3 | | | 一、发行人基本情况 3 | | | 二、本次证券发行的基本情况 13 | | | 三、保荐代表人、项目协办人及项目组其他成员情况 16 | | | 四、发行人与保荐机构的关联关系 17 | | 第二节 | 保荐机构的承诺事项 19 | | | 一、本保荐机构已按照法律法规和中国证监会及深圳证券交易所的相关规定， | | | 对发行人及其控股股东、实际控制人进行了尽职调查、审慎核查，充分了解 | | | 发行人经营状况及其面临的风险和问题，履行了相应的内部审核程序。...19 | | | 二、本保荐机构自愿接受深圳证券交易所的自律监管。 19 | | 第三节 | 保荐机构对本次证券发行上市的推荐意见 20 | | | 一、本保荐机构对本次证券发行上市的推荐结论 20 | | | 二、本次证券发行上市所履行的程序 20 | | | 三、本次发行符合上 ...

证券代码：002079 证券简称：苏州固锝 关于苏州固锝电子股份有限公司 申请向特定对象发行股票的审核问询函 之回复报告 保荐机构（主承销商） 二〇二五年八月 深圳证券交易所： 贵所于 2025 年 6 月 16 日出具的《关于苏州固锝电子股份有限公司申请向特 定对象发行股票的审核问询函》（审核函〔2025〕120023 号）（以下简称"《问询 函》"）已收悉，苏州固锝电子股份有限公司（以下简称"苏州固锝"、"公司"或 "发行人"）与广发证券股份有限公司（以下简称"保荐机构"）、江苏世纪同仁 律师事务所（以下简称"发行人律师"）及立信会计师事务所（特殊普通合伙） （以下简称"申报会计师"）等相关各方对问询函相关问题逐项进行了落实，现 对《问询函》回复如下，请审核。 说明： 一、如无特别说明，本回复报告中的简称或名词释义与募集说明书中的相同。 二、本回复报告中的字体代表以下含义： | 问询函所列问题 | 黑体 | | --- | --- | | 对问询函所列问题的回复 | 宋体 | | 对审核问询函回复、募集说明书的修改、补充 | 楷体（加粗） | 问题 1 三、本问询函回复部分表格中单项数据加总数与表格合计数 ...

苏州固铸电子股份有限公司 审计报告及财务报表 二〇二四年度 您可使用手机"扫一扫"或进商_【注册用于证明该审计报告是查由具有执业详可的会计师 您可使用手机"扫一扫"或进商_f注册会计师行业统一监管平台（http://acc.mof.gov.cn) (2024年 01 月 01 日至 2024 年 12 月 31 日止) | 目录 | 页次 | | --- | --- | | 审计报告 | 1-2 | | 财务报表 | | | 合并资产负债表和母公司资产负债表 | 1-4 | | 合并利润表和母公司利润表 | 5-6 | | 合并现金流量表和母公司现金流量表 | 7-8 | | 合并所有者权益变动表和母公司所有者权益变动表 | 9-12 | | 财务报表附注 | 1-128 | 6-1-2 立信会计师事务所(特殊普通合伙) DO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANT 审计报告 信会师报字[2025]第 ZA10766 号 苏州固得电子股份有限公司全体股东: 一、审计意见 苏州固得电子股份有限公司 审计报告及财务报表 我们审计了苏州固得电子股份有限公司(以下简 ...

苏州固锝电子股份有限公司 关于向特定对象发行股票申请文件的审核问询函回复及 募集说明书（申报稿）等相关申请文件更新的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 证券代码：002079 证券简称：苏州固锝 公告编号：2025-048 公司本次向特定对象发行股票事项尚需通过深交所审核，并获得中国证券监督管理 委员会（以下简称"中国证监会"）作出同意注册的决定后方可实施，最终能否通过深 交所审核，并获得中国证监会同意注册的批复及其时间尚存在不确定性。公司将根据该 事项的进展情况及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 苏州固锝电子股份有限公司董事会 二〇二五年九月二日 苏州固锝电子股份有限公司（以下简称"公司"）于2025年7月8日在巨潮资讯网 （www.cninfo.com.cn）披露了《关于苏州固锝电子股份有限公司申请向特定对象发行股 票的审核问询函之回复报告》《苏州固锝电子股份有限公司2024年度向特定对象发行A股 股票的募集说明书（修订稿）》等相关申请文件。 鉴于公司已于2025年8月22日披露了《2025年半年度报告》 ...

专利摘要显示，本申请涉及一种场效应晶体管RDSON的测试装置和测试方法，所述测试装置包括底 座，所述底座上设有产品固定座、SG测试片夹板和D测试片夹板，所述产品固定座用于固定产品，所述 产品上设有S引脚、G引脚和D引脚，所述SG测试片夹板用于固定F测试片组和S测试片组，所述D测试 片夹板用于固定D测试片组，所述F测试片组包括四个F测试片，所述S测试片组包括四个S测试片，所述 D测试片组包括四个D测试片，每个所述F测试片上设有F测试片钨钢触点部位，每个所述S测试片上设 有S测试片钨钢触点部位1，每个所述D测试片上设有D测试片钨钢触点部位。本测试装置既可以测试单 芯MOS产品的RDSON，又可以测试双芯MOS产品的RDSON。 国家知识产权局信息显示，苏州固锝电子股份有限公司申请一项名为"场效应晶体管RDSON的测试装置 和测试方法"的专利，公开号CN 120559424 A，申请日期为2025年06月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 天眼查资料显示，苏州固锝电子股份有限公司，成立于1990年，位于苏州市，是一家以从事计算机、通 信和其他电子设备制造业 ...

Core Insights - The power semiconductor industry in China has developed a complete ecosystem with leading companies specializing in various segments, including IGBT modules, diodes, and traditional devices, contributing to the import substitution process in key areas like automotive electronics and renewable energy [1][8]. Company Overview - New Energy and Stada Semiconductor focus on IGBT modules, leading in the renewable energy sector [1]. - Jiejie Microelectronics and Suzhou Good focus on diodes and thyristors, serving home appliances and industrial automation markets [1]. - Huazhong Microelectronics and Silan Microelectronics are IDM leaders covering the entire industry chain [1]. - Wentai Technology has expanded into automotive-grade products through the acquisition of Anshi Semiconductor [1]. - Yangjie Technology leads in discrete devices, while Dongwei Semiconductor and Hongwei Technology focus on high-end MOSFET and IGBT research [1]. - Pairui Technology specializes in high-voltage devices, and Zhenhua Technology and Huami Electronics have advantages in military and industrial sectors [1]. - Galaxy Microelectronics, Xindao Technology, and Kaiweite focus on miniaturized devices in niche markets [1]. Performance Comparison - In Q1 2025, most power semiconductor companies reported gross margins between 10% and 45%, indicating good profitability [5]. - Wentai Technology led in revenue with 13.1 billion yuan, although its year-on-year growth rate declined [5]. - Pairui Technology achieved the highest gross margin at 58.4%, showcasing its cost control and efficiency [5]. Revenue and Gross Margin Data - New Energy reported Q1 2025 revenue of 450 million yuan with a gross margin of 36.6% [6]. - Jiejie Microelectronics had revenue of 700 million yuan and a gross margin of 39.9% [6]. - Huazhong Microelectronics reported 2.35 billion yuan in revenue with a gross margin of 25.3% [6]. - Wentai Technology's revenue was 13.1 billion yuan with a gross margin of 14.0% [6]. - Silan Microelectronics had revenue of 3 billion yuan and a gross margin of 21.3% [6]. - Stada Semiconductor reported 920 million yuan in revenue with a gross margin of 30.4% [6]. - Suzhou Good achieved 900 million yuan in revenue with a gross margin of 10.8% [6]. - Yangjie Technology reported 1.58 billion yuan in revenue with a gross margin of 34.6% [6]. - Galaxy Microelectronics had revenue of 220 million yuan and a gross margin of 24.0% [6]. - Pairui Technology's revenue was 30 million yuan with a gross margin of 58.4% [6]. - Hongwei Technology reported 300 million yuan in revenue with a gross margin of 16.4% [6]. - Dongwei Semiconductor achieved 280 million yuan in revenue with a gross margin of 13.6% [7]. - Taiji Technology reported 70 million yuan in revenue with a gross margin of 29.0% [7]. - Zhenhua Technology had revenue of 910 million yuan and a gross margin of 42.5% [7]. - Huami Electronics reported 640 million yuan in revenue with a gross margin of 28.0% [7]. Regional Distribution - Domestic sales dominate, with most companies having over 70% of their sales in China, except Wentai Technology, which has a balanced global presence [8]. - The East and South China regions are core areas for companies like Stada Semiconductor, Silan Microelectronics, and New Energy, while North and Central China focus on industrial and power applications [8]. - Companies like Zhenhua Technology and Huami Electronics leverage local bases to expand into surrounding areas [8]. Future Business Plans - The industry aims to build competitive barriers through capacity expansion, automotive certification, and domestic substitution [16]. - Leading companies are accelerating the expansion of automotive-grade IGBT modules and focusing on the photovoltaic storage market [16]. - Companies are also enhancing their technology capabilities, with a focus on 12-inch wafer production and third-generation semiconductor layouts [16].