目 录 | 一、 | 问题 | 1……………………………………………………………第 | 1—42 | 页 | | --- | --- | --- | --- | --- | | 二、问题 | | 2………………………………………………………… 第 | 42—63 | 页 | 问询函专项说明 天健函〔2025〕1312 号 深圳证券交易所： 由华泰联合证券有限责任公司转来的《关于杭州长川科技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〕020065 号，以下简称问询函） 奉悉。我们已对问询函中提及的杭州长川科技股份有限公司（以下简称长川科技公 司或公司）需要我们说明的财务事项进行了审慎核查，现汇报如下。 一、问题 1 根据申报材料，受到宏观经济环境、集成电路行业周期、下游客户需求等因 素的影响，公司业绩呈现一定波动，最近三年营业收入分别为 257652.90 万元、 177505.49 万元、364152.60 万元。扣非归母净利润分别为 39509.38 万元、-7655.71 万元、41414.63 万元。根据公司近期披露的 2025 年三季度报告，2025 年 1-9 月 实现营业 ...

华泰联合证券有限责任公司 二〇二五年十一月 关于 杭州长川科技股份有限公司 2025 年向特定对象发行股票并在创业板上市 之 上市保荐书 保荐人（主承销商） （深圳市前海深港合作区南山街道桂湾五路128号前海深港基金小镇B7栋401） 上市保荐书 华泰联合证券有限责任公司关于 杭州长川科技股份有限公司 2025 年向特定对象发行股票并在创业板上市 之上市保荐书 注册地址：杭州市滨江区聚才路 410 号 设立日期：2008 年 4 月 10 日 深圳证券交易所： 作为杭州长川科技股份有限公司（以下简称"发行人"、"公司"）2025 年向特定对象发行股票并在创业板上市的保荐人，华泰联合证券有限责任公司及 其保荐代表人已根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人 民共和国证券法》（以下简称《证券法》）等法律法规和中国证券监督管理委员会 （以下简称中国证监会）及贵所的有关规定，诚实守信，勤勉尽责，严格按照依 法制定的业务规则和行业自律规范出具上市保荐书，并保证所出具文件真实、准 确、完整。 现将有关情况报告如下： 一、发行人基本情况 （一）发行人概况 发行人名称：杭州长川科技股份有限公司 法定代表人 ...

| 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。 | 杭州长川科技股份有限公司（以下简称"公司"）于 2025 年 11 月 12 日收到 深圳证券交易所（以下简称"深交所"）下发的《关于杭州长川科技股份有限公 司申请向特定对象发行股票的审核问询函》（审核函〔2025〕020065 号）（以下 简称"问询函"）。 证券代码：300604 证券简称：长川科技 公告编号：2025-077 杭州长川科技股份有限公司 关于向特定对象发行股票的审核问询函回复及募集说明书 等申请文件更新的提示性公告 董 事 会 2025 年 11 月 28 日 公司收到问询函后，会同相关中介机构对问询函所提出的问题进行了认真研 究和逐项落实，并对问询函所列问题进行了逐项说明和回复，同时对募集说明书 等申请文件涉及的相关内容进行了更新，具体内容详见公司同日于巨潮资讯网 （www.cninfo.com.cn）披露的相关文件。 公司本次向特定对象发行股票事项尚需深交所审核通过，并经中国证券监督 管理委员会（以下简称"中国证监会"）同意注册后方可实施，最终能否通过深 交 ...

Core Viewpoint - The company plans to raise 3.132 billion yuan for semiconductor equipment R&D and to supplement working capital, with a total project investment of 3.840 billion yuan [1] Fundraising and Project Details - The company intends to use 2.192 billion yuan from the fundraising for the project [1] - The project will be implemented by the company and its subsidiaries, with funding allocations of 53.97% by the company, 26.96% by Changchun Suzhou, 12.87% by Changchun Harbin branch, and 6.20% by Shanghai Changchun [1] Project Implementation Considerations - Some lease terms may not cover the project implementation period, but there are agreements for lease renewals and high site substitutability, which will not cause significant adverse effects [1]

Core Points - The company received an inquiry letter from the Shenzhen Stock Exchange regarding the issuance of shares to specific targets on November 12, 2025 [1] - Following the receipt of the inquiry letter, the company will work with relevant intermediary institutions to address the questions raised and update the fundraising prospectus and other application documents [1] - The issuance is subject to approval from the Shenzhen Stock Exchange and registration consent from the China Securities Regulatory Commission, with the final outcome and timeline being uncertain [1]

Core Viewpoint - Changchuan Technology's stock has shown significant performance this year, with a year-to-date increase of 78.47%, despite recent fluctuations in the market [1][2]. Group 1: Stock Performance - As of November 27, Changchuan Technology's stock price reached 78.58 CNY per share, with a market capitalization of 498.51 billion CNY [1]. - The stock has experienced a 1.59% increase over the last five trading days, a 10.70% decrease over the last 20 days, and a 31.87% increase over the last 60 days [1]. - The company has appeared on the "龙虎榜" (a trading board for stocks with significant trading volume) twice this year, with the most recent appearance on September 24, where it recorded a net buy of -1.93 billion CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, Changchuan Technology reported a revenue of 3.779 billion CNY, representing a year-on-year growth of 49.05%, and a net profit attributable to shareholders of 865 million CNY, which is a 142.14% increase year-on-year [2]. - The company's main business revenue composition includes testing machines (57.68%), sorting machines (32.73%), and other products (9.59%) [1]. Group 3: Shareholder Information - As of November 10, the number of shareholders for Changchuan Technology was 119,100, a decrease of 9.84% from the previous period, with an average of 4,108 circulating shares per shareholder, an increase of 11.81% [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 9.9685 million shares, a decrease of 6.155 million shares from the previous period [3].

Market Performance - The three major U.S. stock indices closed lower last week, with the Dow Jones down 1.91%, the Nasdaq down 2.74%, and the S&P 500 down 1.95% [1] - European indices also performed poorly, with the FTSE 100 down 1.64%, the CAC 40 down 2.29%, and the DAX down 3.29% [1] Economic Data Releases - A series of key economic data, delayed due to government shutdown, will be released this week, potentially increasing market volatility ahead of the Federal Reserve's December meeting [2] - Important data includes September retail sales and Producer Price Index (PPI) on Tuesday, and September durable goods orders on Wednesday [2] - The release of the revised Q3 GDP growth rate and October personal income and spending data has been rescheduled [2] CPI and Employment Reports - The U.S. Bureau of Labor Statistics announced it will not release the complete October Consumer Price Index (CPI) report, with the November report scheduled for December 18 [3] - The delay in the October employment report may increase the importance of weekly initial jobless claims data [2] MSCI Index Adjustments - The MSCI China Index will undergo adjustments effective after the market close on November 24, including the addition of 26 stocks and the removal of 16 stocks [4] - New additions include companies like Qianli Technology and Huahong Semiconductor, while removals include Beikong Water Group and China Everbright Bank [4] U.S.-Ukraine Talks - U.S. and Ukrainian representatives reported progress in talks regarding a new 28-point plan to end the Russia-Ukraine conflict [5] - U.S. Secretary of State Rubio indicated that both sides are working to narrow differences and move towards a mutually acceptable solution [6]

Group 1 - The company, Changchuan Technology, focuses on the research, development, production, and sales of integrated circuit specialized equipment [2] - It is recognized as a national high-tech enterprise and software enterprise, dedicated to enhancing the technology level of integrated circuit testing equipment in China [2] - The company actively promotes the upgrade of the integrated circuit equipment industry [2]

Core Viewpoint - Changchuan Technology is progressing with its private placement plan as scheduled and will disclose updates in accordance with regulations [2] Group 1 - The company confirmed that its operations are normal and there are no significant undisclosed matters [2]

Core Viewpoint - The semiconductor sector is experiencing growth despite a general market decline, driven by increased investments in AI infrastructure by major tech companies [1] Group 1: Market Performance - Major stock indices continued to decline, while the semiconductor materials ETF rose by 1.68% as of 14:30 [1] - Notable gains were observed in individual stocks, with North China Innovation rising by 5.65%, Tuojing Technology by 4.50%, and Zhongwei Company by 3.57% [1] Group 2: Investment Trends - Major tech companies, including Meta, Google, Amazon, and Microsoft, are expected to invest over $400 billion in AI infrastructure next year, representing a 21% increase compared to 2025 [1] - Meta's spending in AI infrastructure is projected to reach $72 billion this year, with further increases planned for next year [1] - Google plans to invest $40 billion in building three new data centers in Texas, with the investment extending until 2027 [1] Group 3: Industry Outlook - According to Everbright Securities, the demand for AI computing power, data centers, and smart driving is driving the expansion of the semiconductor industry [1] - The construction of advanced wafer processing capacity is accelerating, contributing to steady growth in the semiconductor materials market [1] - There is a continued demand for specific materials such as photoresists, wet electronic chemicals, and electronic specialty gases, indicating a phase of demand expansion and domestic production resonance in the semiconductor materials sector [1] - Companies with technological advantages and customer validation in core material areas like photoresists, wet electronic chemicals, electronic specialty gases, and CMP are recommended for attention [1]