证券代码：002185 证券简称：华天科技 公告编号：2025-021 天水华天科技股份有限公司 四届四次员工会员代表大会决议公告 本公司及监事会全体成员保证公告内容真实、准确和完整，并对 公告中的虚假记载、误导性陈述或者重大遗漏承担责任。 二○二五年四月二十二日 1 附件： 天水华天科技股份有限公司 第八届监事会职工代表监事简介 天水华天科技股份有限公司（以下简称"公司"）四届四次员工会员代表大 会于 2025 年 4 月 20 日在公司九楼会议室召开。大会应到代表 678 人，实到代表 667 人。会议通过举手表决的方式，一致选举张玉明先生、李娜女士为公司第八 届监事会职工代表监事，与公司 2024 年年度股东大会选举产生的一名非职工代 表监事共同组成公司第八届监事会，任期与第八届监事会监事任期相同。 备查文件 公司四届四次员工会员代表大会决议 特此公告。 附件：第八届监事会职工代表监事简历 天水华天科技股份有限公司监事会 1、张玉明先生 张玉明，男，汉族，1963 年 6 月出生，中共党员，大专学历，政工师。曾 任天水永红器材厂党委书记、天水华天科技股份有限公司董事。现任天水华天科 技股份有限公司监事及 ...

Group 1 - The core index of the CSI 500 Relative Value Index closed at 6970.13 points, with mixed performance among the three major A-share indices [1] - The CSI 500 Relative Value Index has decreased by 8.64% in the past month, 1.57% in the past three months, and 5.41% year-to-date [2] - The index considers both value and growth characteristics of the CSI 500 index samples, selecting securities with prominent value styles and reflecting the overall performance of value-style securities [2] Group 2 - The top ten holdings of the CSI 500 Relative Value Index include Suzhou Bank (1.08%), Dongshan Precision (0.95%), Yongtai Energy (0.91%), and others [2] - The market capitalization distribution shows that the Shanghai Stock Exchange accounts for 55.26% and the Shenzhen Stock Exchange accounts for 44.74% of the index [2] Group 3 - The industry composition of the CSI 500 Relative Value Index includes 19.78% in industrials, 18.77% in materials, 14.47% in financials, and smaller percentages in other sectors [3] - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December [3]

Core Viewpoint - The recent performance reports of major semiconductor packaging and testing companies in the A-share market indicate a mixed outlook, with significant growth in net profits for Tongfu Microelectronics and Huada Semiconductor, while Huicheng Co., focused on display driver chip packaging, faces declining profits due to increased competition and lower gross margins [1][2][3]. Group 1: Performance Summary of Major Companies - Longji Technology reported a revenue of 35.96 billion yuan for 2024, a year-on-year increase of 21.2%, and a net profit of 1.61 billion yuan, up 9.5% [1]. - Tongfu Microelectronics achieved a revenue of 23.882 billion yuan, a growth of 7.24%, with a remarkable net profit increase of 299.9% to 677 million yuan [1][2]. - Huada Technology's revenue reached 14.462 billion yuan, reflecting a growth of 28%, while its net profit increased by 172.29% to 616 million yuan [1]. Group 2: Financial Dynamics and Challenges - The significant net profit growth for Tongfu Microelectronics and Huada Technology is based on a low comparison from 2023, where their profits had previously declined [2]. - Despite the net profit surge, Tongfu Microelectronics experienced a decline in net cash flow from operating activities, which fell by 9.68% to 3.877 billion yuan, attributed to increased depreciation expenses [2]. - The EBITDA for Tongfu Microelectronics was reported at 4.815 billion yuan, showing a modest growth of 9.38% [2][3]. Group 3: Industry Competition and Gross Margin Trends - Huicheng Co. reported a revenue of 1.501 billion yuan for 2024, a year-on-year increase of 21.22%, but its net profit decreased by 18.48% to 160 million yuan due to intensified competition in the display driver chip packaging sector [3][4]. - The average gross margin for Huicheng Co. was 22.34%, down 4.83 percentage points, while Tongfu Microelectronics and Huada Technology reported lower gross margins of 14.50% and 12.29%, respectively [4][5]. - The competitive landscape is expected to further pressure gross margins, as new entrants and expanded capacities in the display driver chip packaging market could lead to price declines [5].

Core Viewpoint - The advanced packaging sector in China's semiconductor industry is experiencing significant growth driven by technological advancements and increasing application demands, particularly in 2.5D/3D packaging, Chiplet technology, and System-in-Package (SiP) innovations [1] Financial Performance of Advanced Packaging Companies - Changdian Technology reported a revenue of RMB 35.96 billion for 2024, a year-on-year increase of 21.24%, with a net profit of RMB 1.61 billion, up 9.52% [2] - Tongfu Microelectronics achieved a revenue of RMB 23.88 billion, a 7.24% increase, and a net profit of RMB 678 million, soaring 299.90% [4] - Huatian Technology's revenue reached RMB 14.46 billion, marking a 28% growth, with a net profit of RMB 616 million, a significant increase of 172.29% [3] - Yongxi Electronics reported a revenue of RMB 3.61 billion, a 50.76% increase, and turned a profit with a net profit of RMB 67.1 million [5] - Guizhong Technology's revenue was RMB 1.96 billion, up 20.26%, but net profit decreased by 15.71% to RMB 313 million [5] - Jingfang Technology expects a net profit between RMB 240 million and RMB 264 million, reflecting a growth of 59.90% to 75.89% [6] Market Trends and Drivers - The advanced packaging market is recovering, with most companies reporting revenue growth between 20% and 50%, except for Guizhong Technology, which saw a decline in net profit [7] - The growth in revenue is attributed to increased demand in sectors such as data centers and automotive electronics, alongside the recovery of the semiconductor market [10] - Changdian Technology focuses on advanced technologies and key application markets, optimizing product structure and enhancing capacity utilization [7] - Tongfu Microelectronics has seen significant growth in automotive products, leveraging its technology advantages in industrial control and automotive applications [7] - Huatian Technology's revenue growth is supported by government subsidies, which contributed significantly to its profits [9] Capacity Expansion and Technological Advancements - Changdian Technology's advanced packaging capacity is fully utilized, prompting expansion efforts to meet customer demand [11] - Tongfu Microelectronics is implementing a multi-point layout strategy, enhancing its production capabilities across various locations [11] - Huatian Technology is progressing with new production bases and significant investment projects aimed at expanding its advanced packaging capacity [11] - Emerging advanced packaging projects are also making strides, with new facilities being established to enhance production capabilities [12] - Domestic advanced packaging companies are continuously iterating their technologies, with notable advancements in high-density packaging and chip integration [13]

证券代码：002185 证券简称：华天科技 公告编号：2025-020 天水华天科技股份有限公司 关于部分股票期权注销完成的公告 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。 特别提示： 本次注销 2023 年股票期权激励计划首次授予部分已授予但尚未行权的 股票期权合计 1,881.40 万份。 截至本公告披露日，上述股票期权已在中国证券登记结算有限责任公司 深圳分公司完成注销手续。 一、2023 年股票期权激励计划部分股票期权注销事项概述 天水华天科技股份有限公司（以下简称"公司"）于 2025 年 3 月 29 日召开 第七届董事会第二十一次会议、第七届监事会第十七次会议，审议通过了《关于 调整公司 2023 年股票期权激励计划首次授予部分激励对象名单及授予数量并注 销部分股票期权的议案》。鉴于 2023 年股票期权激励计划首次授予部分中有 244 名激励对象因离职等原因不再具备激励资格，同意将其全部已获授的股票期权合 计 1,837 万份予以注销；17 名激励对象因 2024 年度个人业绩考核结果不达标，对 应的第一个行权期股票期权合计 44.40 万 ...

从中证500相对价值指数持仓的市场板块来看，上海证券交易所占比55.14%、深圳证券交易所占比 44.86%。 金融界4月14日消息，上证指数高开高走，中证500相对价值指数 (500R价值，H30354)报6989.26点。 数据统计显示，中证500相对价值指数近一个月下跌7.13%，近三个月上涨1.59%，年至今下跌5.15%。 据了解，中证500相对价值指数综合考察中证500指数样本的价值和成长特征，选取价值风格较为突出的 证券为样本，并采用经综合价值概率调整后的自由流通市值加权，以反映中证500指数中具有价值风格 特征证券的整体表现，为市场提供更具多元化风险收益特征的投资标的。该指数以2004年12月31日为基 日，以1000.0点为基点。 从指数持仓来看，中证500相对价值指数十大权重分别为：苏州银行（1.04%）、东山精密（1.03%）、 永泰能源（0.91%）、华天科技（0.78%）、长沙银行（0.76%）、振华科技（0.75%）、东吴证券 （0.75%）、财通证券（0.72%）、云天化（0.72%）、浙江龙盛（0.7%）。 从中证500相对价值指数持仓样本的行业来看，工业占比19.84%、原材 ...

Group 1 - The meeting highlighted the importance of supporting and encouraging the development of the private economy, as emphasized by General Secretary Xi Jinping's speech at the private enterprise symposium [3] - Various private enterprise leaders provided suggestions for promoting high-quality development of the private economy in Tianshui [1][3] Group 2 - The meeting stressed the need to continuously optimize the business environment, enhance service efficiency, and expand market access for private enterprises [5] - It was emphasized to accurately implement policies that benefit enterprises, reduce operational costs, and strengthen financial support for private enterprises [5] - The establishment of a clear and supportive relationship between government and business was highlighted, along with the importance of regular communication and follow-up on entrepreneurs' suggestions [5]

Core Viewpoint - The company, Huatians Technology, is focusing on advanced packaging technology development, targeting applications in AI, XPU, memory, and automotive electronics, which are expected to become new growth points for the company [1] Group 1: Company Performance - In 2024, Huatians Technology achieved operating revenue of 14.462 billion yuan, a year-on-year increase of 28% [1] - The net profit attributable to shareholders reached 616 million yuan, representing a year-on-year growth of 172.29% [1] - The increase in performance is attributed to a recovery in demand for electronic terminal products, leading to increased orders and improved capacity utilization [1] Group 2: Industry Trends - The global semiconductor market is entering a recovery phase in 2024, ending a downturn that began in the second half of 2022, driven by increased demand for computing and memory chips [2] - According to the Semiconductor Industry Association (SIA), global semiconductor sales are projected to reach 627.6 billion USD in 2024, a year-on-year increase of 19.1% [2] Group 3: Advanced Packaging Technology - Huatians Technology is actively exploring packaging technology and accelerating the layout of advanced packaging capacity [3] - The company has completed the construction and equipment debugging of the 2.5D production line and has achieved mass production of various advanced packaging technologies [3] - The company’s subsidiaries are officially operational, and the expansion of advanced packaging capacity is expected to enhance market competitiveness [3]

Group 1: Market Overview and Growth Projections - The global semiconductor sales are expected to reach $697.2 billion in 2025, with a projected double-digit growth according to the Semiconductor Industry Association [2][3] - The recovery of consumer markets such as mobile phones and computers, along with innovations in robotics, will drive the sales of integrated circuit products [3][4] Group 2: Company Performance and Financial Highlights - In 2024, the company reported a 28% year-on-year increase in revenue and a 172.29% increase in net profit attributable to shareholders [4] - The company's order volume and capacity utilization have significantly increased due to the recovery in demand for electronic terminal products [3][4] Group 3: Advanced Packaging and Technological Developments - The company is expanding its advanced packaging capabilities through subsidiaries, with ongoing construction and production in locations such as Jiangsu and Shanghai [2][3] - Future growth points include a focus on AI, XPU, memory, and automotive electronics applications, as well as advancements in 2.5D platform technology and CPO packaging technology [2][3] Group 4: Competitive Positioning - The company aims to enhance its market competitiveness in advanced packaging as its subsidiaries ramp up production and expand their scale [2][3] - Compared to peers, the company has shown significant growth in both revenue and net profit, although the extent of growth varies among competitors [4]

Investment Rating - The investment rating for the company is "Buy" with a target price expected to yield over 20% relative return within six months [5]. Core Views - The company achieved significant revenue growth in 2024, with total revenue reaching 14.46 billion yuan, a year-on-year increase of 28.00%, and net profit attributable to the parent company of 616.25 million yuan, up 172.29% year-on-year [1][5]. - The company is positioned to benefit from the recovery cycle in the integrated circuit industry, leveraging its customer-centric approach to enhance product quality and drive sales growth both domestically and internationally [1][2]. - The company has made substantial advancements in advanced packaging technology, completing the construction and debugging of its 2.5D production line, and achieving mass production of various high-tech products [3][4]. Summary by Sections Financial Performance - In 2024, the company reported a total revenue of 14.46 billion yuan, with a net profit of 616.25 million yuan, reflecting a growth rate of 172.29% [1][11]. - The company expects continued growth, with projected net profits of 956.53 million yuan in 2025 and 1.25 billion yuan in 2026 [4][11]. Sales and Market Development - The company has strengthened its customer management and product quality assurance, resulting in domestic sales of 9.27 billion yuan and international sales of 5.19 billion yuan, representing year-on-year growth of 35.75% and 16.16%, respectively [2]. - The company has successfully developed 236 new customers, optimizing its product and customer structure [2]. Technological Innovation - The company has achieved significant milestones in advanced packaging technology, including the completion of its 2.5D production line and the successful mass production of high-integration products [3]. - In 2024, the company completed the packaging of 57.51 billion integrated circuits, marking a year-on-year increase of 22.56% [3]. Production and Efficiency - The company has implemented automation in its production processes, enhancing efficiency and reducing costs, with new production bases in Jiangsu and Shanghai now operational [4]. - The company has completed all fundraising investment projects, gradually releasing production capacity to support further industry expansion [4].