Investment Rating - The report maintains an "Overweight" rating for the semiconductor industry [1] Core Viewpoints - The increase in import tariffs on semiconductor equipment from the US is beneficial for the domestic replacement of both mature and advanced process equipment, supporting the trend of self-sufficiency [5][6] - The import value of semiconductor equipment from the US in 2024 is estimated to be approximately 33.7 billion yuan, accounting for about 20% of total imports [6][8] - The newly imposed 34% tariff on US imports is expected to increase the cost of imported equipment by over 50%, giving a significant price advantage to domestic equipment [5][6] - The report highlights that the major imported equipment from the US includes ion implantation and metrology equipment, with the largest import value for metrology equipment at approximately 12.25 billion yuan [7][8] - Major US equipment manufacturers have production bases in Singapore and Malaysia, which affects the reported import values [11] Summary by Sections Section 1: Impact of Tariffs - The increase in tariffs is expected to accelerate the domestic production of semiconductor equipment, particularly benefiting the mature process segment due to its price sensitivity [5][6] Section 2: Equipment Import Breakdown - In 2024, the largest import value from the US is for metrology equipment at 12.25 billion yuan, followed by ion implantation equipment at approximately 10.15 billion yuan [7][8] Section 3: Revenue from US Equipment Manufacturers - The combined revenue of four major US equipment manufacturers in China is estimated at around 120 billion yuan, indicating a significant market presence [11][15] Section 4: Investment Recommendations - The report recommends focusing on front-end and back-end semiconductor equipment manufacturers, highlighting specific companies such as North Huachuang and Zhongwei Company for front-end platform equipment, and others for various segments [18]

Investment Rating - The report maintains an "Overweight" rating for the semiconductor industry [1] Core Viewpoints - The increase in import tariffs on semiconductor equipment from the US is beneficial for the domestic replacement of both mature and advanced process equipment, supporting the trend of self-sufficiency [5][6] - The import value of semiconductor equipment from the US in 2024 is estimated to be approximately 33.7 billion yuan, accounting for about 20% of total imports [6][8] - The newly imposed 34% tariff on US imports is expected to increase the cost of imported key equipment by over 50%, giving a significant price advantage to domestic equipment [5][6] - The report highlights that the major imported equipment from the US includes ion implantation and metrology equipment, with the largest import value for metrology equipment at approximately 12.25 billion yuan [7][8] - Major US equipment manufacturers have production bases in Singapore and Malaysia, which affects the reported import values [11] Summary by Sections Section 1: Impact of Tariffs - The increase in tariffs is expected to accelerate the domestic replacement of semiconductor equipment, particularly benefiting mature process chips due to their price sensitivity [5][6] Section 2: Equipment Import Breakdown - In 2024, the largest import value from the US is for metrology equipment at 12.25 billion yuan, followed by ion implantation equipment at approximately 10.15 billion yuan [7][8] Section 3: Revenue from US Equipment Manufacturers - The combined revenue of four major US equipment manufacturers in China is estimated at around 120 billion yuan, indicating a significant presence in the market [11][12] Section 4: Investment Recommendations - The report recommends focusing on front-end and back-end semiconductor equipment and component manufacturers, highlighting specific companies such as North Huachuang and Zhongwei Company [18]

Investment Rating - The report maintains an "Overweight" rating for the machinery equipment industry, particularly highlighting opportunities in semiconductor equipment due to tariff impacts [1]. Core Insights - The report emphasizes the impact of tariffs on the machinery equipment sector, particularly the 34% tariff on U.S. imports, which raises the total export tariff to the U.S. for engineering machinery to 79%. However, the actual impact on major companies is limited due to their low exposure to the U.S. market [1][2]. - The report identifies potential growth in domestic demand and the electric vehicle transition as key factors for the forklift segment, while also noting the limited impact of tariffs on exports [3]. - The semiconductor equipment sector is expected to benefit from increased domestic production due to tariffs, with a focus on both mature and advanced process equipment [4]. Summary by Sections Engineering Machinery - The report highlights that major engineering machinery companies have minimal exposure to the U.S. market, with SANY Heavy Industry at approximately 3% and XCMG at about 1% [1][2]. - Companies with overseas factories, particularly in North America and Mexico, are better positioned to mitigate tariff risks [2]. - The report recommends companies like SANY Heavy Industry, XCMG, and LiuGong for their strategic factory locations [2]. Forklifts - The report notes that domestic forklift manufacturers have limited exposure to the U.S. market, and the impact of tariffs is manageable due to pre-stocked inventory [3]. - It suggests that the domestic forklift market will see growth driven by the electric vehicle transition and government policies supporting domestic demand [3]. Semiconductor Equipment - The report indicates that the 34% tariff on U.S. imports will accelerate the domestic production of semiconductor equipment, particularly in mature processes where price sensitivity is higher [4]. - It recommends focusing on companies involved in both front-end and back-end semiconductor equipment, highlighting firms like North China Innovation and Zhongwei Company [4]. General Automation - The report suggests that the general automation sector will see limited impact from tariffs, with a focus on domestic demand for tools and automation products [5][8]. - It highlights the recovery in manufacturing and logistics sectors as potential growth drivers for the general automation market [8]. Investment Recommendations - The report provides a list of recommended companies across various segments, including semiconductor equipment, engineering machinery, and general automation, emphasizing their potential for growth in the current market environment [1][16].

Investment Rating - The report maintains an "Overweight" rating for the machinery equipment industry, particularly highlighting opportunities in semiconductor equipment due to tariff impacts [1]. Core Insights - The report emphasizes the impact of tariffs on the machinery equipment sector, particularly the 34% tariff on U.S. imports, which raises the total export tariff to the U.S. for engineering machinery to 79%. However, the actual impact on major companies is limited due to their low exposure to the U.S. market [1][2]. - The report identifies potential growth in domestic demand and the electric vehicle transition as key factors for the forklift segment, while also highlighting the importance of overseas factory layouts to mitigate tariff risks [3][4]. - The semiconductor equipment sector is expected to benefit from increased domestic production due to tariffs, with a focus on both mature and advanced process equipment [4]. Summary by Sections Engineering Machinery - The report notes that major engineering machinery companies have limited exposure to the U.S. market, with SANY Heavy Industry at approximately 3% and XCMG at about 1% [1][2]. - Companies with overseas factories, particularly in North America and Mexico, are better positioned to mitigate tariff risks [2]. - The report recommends companies such as SANY Heavy Industry, XCMG, and LiuGong for their strategic factory locations [2]. Forklifts - The report indicates that domestic forklift exports to the U.S. will face a 79% tariff, but the impact is manageable due to low exposure and pre-stocked inventory [3]. - It highlights the potential for growth in the domestic market driven by policies supporting electric vehicle adoption and logistics industry upgrades [3]. Semiconductor Equipment - The report suggests that the 34% tariff on U.S. imports will accelerate the domestic production of semiconductor equipment, particularly in mature processes where price sensitivity is higher [4]. - It recommends focusing on companies involved in both front-end and back-end semiconductor equipment, such as North China Innovation and Zhongwei Company [4]. General Automation - The report suggests that the general automation sector will see limited impact from tariffs, with a focus on domestic demand for tools and automation products [5][8]. - It highlights the recovery in manufacturing and logistics sectors as potential growth drivers for the automation industry [8]. Investment Recommendations - The report provides a list of recommended companies across various segments, including semiconductor equipment, engineering machinery, and general automation, emphasizing their strategic positions to capitalize on current market conditions [1][16].

证券代码：300751 证券名称：迈为股份 公告编号：2025-004 苏州迈为科技股份有限公司 关于与专业机构共同投资的进展公告 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。 一、与专业投资机构共同投资概述 苏州迈为科技股份有限公司（以下简称"公司"）与冯源（宁波）私募基金 管理有限公司及其他有限合伙人进行合作，公司作为有限合伙人以自有资金认缴 出资 2,000 万元，参与认购广东冯源半导集电股权投资基金合伙企业（有限合伙） 的基金份额。本次交易事项无需提交公司董事会及股东大会审议。具体内容详见 公司于 2025 年 1 月 22 日在创业板信息披露网站巨潮资讯网（www.cninfo.com.cn） 披露的《关于与专业机构共同投资的公告》（公告编号：2025-002）。 3、托管人名称：平安银行股份有限公司 4、备案日期：2025 年 3 月 25 日 5、备案编码：SATX92 三、备查文件 1、私募投资基金备案证明。 特此公告。 二、基金备案情况 近日，本基金完成了私募投资基金备案手续，具体情况如下： 1、基金名称：广东冯源半导集电股权投资基金合伙企 ...

关于使用部分闲置募集资金进行现金管理的进展公告 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。 苏州迈为科技股份有限公司（以下简称"公司"）于 2024 年 10 月 24 日召 开了第三届董事会第十一次会议及第三届监事会第十一次会议，会议分别审议通 过了《关于使用部分闲置募集资金进行现金管理的议案》，同意公司使用不超过 45,000 万元的闲置募集资金进行现金管理，该资金额度自董事会审议通过之日 起 12 个月内可以滚动使用。公司独立董事、监事会、保荐机构均发表了明确同 意意见。具体内容详见中国证监会指定创业板信息披露网站巨潮资讯网 （http://www.cninfo.com.cn）披露的《关于使用部分闲置募集资金进行现金管理 的公告》（公告编号：2024-051）。 公司就使用部分闲置募集资金进行现金管理的相关事宜公告如下： 关联关系说明：公司与受托方无关联关系。 序 号 受托方 产品 类型 产品名称 认购金额 （万元） 起息日 到期日 预期年 化收益 率 资 金 类 型 1 中国建设 银行股份 有限公司 单 位 通 知 存款 单位通知 存款 1,500 ...

东吴证券股份有限公司 关于苏州迈为科技股份有限公司 2024 年度定期现场检查报告 | 保荐机构名称：东吴证券股份有限公司 被保荐公司简称：迈为股份 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 保荐代表人姓名：曹飞 联系电话：0512-62938583 | | | | | | | | 保荐代表人姓名：左道虎 联系电话：0512-62938583 | | | | | | | | 现场检查人员姓名：曹飞、左道虎 | | | | | | | | 现场检查对应期间：2024 年度 | | | | | | | | 现场检查时间：2024 年 12 月 26 日至 27 日 | | | | | | | | 一、现场检查事项 | 现场检查意见 | | | | | | | 是 | | （一）公司治理 否 不适用 | | | | | | 现场检查手段：1、查阅公司章程和公司治理相关制度；2、查阅三会会议文件；3、查阅公 | | | 司公告、股东名册，核查董监高、实际控制人变化情况；4、实地查看生产经营场所，了解 | | | | | 结构设置、人员配置等 ...

证券代码：300751 证券名称：迈为股份 公告编号：2024-075 苏州迈为科技股份有限公司 关于在全资子公司之间调剂担保额度的公告 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。 | 担保人 | 被担保人 | 担保总 | 未使用担 | 本次调剂担 | 调剂后担保 | 调剂后可使 | | --- | --- | --- | --- | --- | --- | --- | | | | 额度 | 保额度 | 保额度 | 总额 | 用担保额度 | | 公司 | 迈为自动化 | 20,000 | 0 | 130,000.00 | 150,000.00 | 130,000.00 | | 公司 | 新加坡迈为 | 420,000 | 415,562.12 | -130,000.00 | 290,000.00 | 285,562.12 | 三、被担保人基本情况 （1）被担保人名称：苏州迈为自动化设备有限公司 成立日期：2014 年 11 月 26 日 一、担保情况概述 苏州迈为科技股份有限公司（以下简称"公司"）于 2024 年 10 月 24 日召 开了第三届董事会第 ...

证券代码：300751 证券名称：迈为股份 公告编号：2024-074 苏州迈为科技股份有限公司 关于签署合伙企业认缴份额转让协议暨与专业机构共同投 资的公告 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： "执行事务合伙人"）及其他有限合伙人进行合作，参与认购陕西绿金熠柏科创 创业投资基金合伙企业（有限合伙）（以下简称"陕西绿金熠柏"、"合伙企业"、 "本基金"）的基金份额。 公司与本基金有限合伙人陈海荣签署《合伙企业认缴份额转让协议》，以 0 万元受让本基金有限合伙人陈海荣的合伙份额 2,000 万元，该部分合伙份额陈海 荣尚未完成实缴，在本次转让完成后由公司将进行实缴。本次转让完成后，公司 持有本基金 2,000 万元合伙份额，占比 6.6%。 1、本次投资事项尚需进行工商变更登记、基金变更备案等手续，具体实施 情况和进度尚存在不确定性。 2、投资基金具有周期长、流动性较低的特点，本次投资存在回收期较长、 短期内不能为公司贡献利润的风险。 3、本次投资基金在投资过程中可能受到宏观经济、行业周期、监管政策、 投资标的公司经营管理等多方面影响，可 ...

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。 一、股东股份质押基本情况 苏州迈为科技股份有限公司（以下简称"公司"）近日接到实际控制人、控 股股东之一王正根先生发来的函告，获悉其所持有本公司的部分股份办理了股份 质押及解除质押等手续，具体事项如下： 本次质押股份不存在负担重大资产重组等业绩补偿义务的情况。 证券代码：300751 证券简称：迈为股份 公告编号：2024-073 苏州迈为科技股份有限公司 关于控股股东部分股份质押及解除质押的公告 2、本次部分股份解除质押的基本情况 | 股东名称 | 是否为控股股东 或第一大股东及 | 本次解除质 | 占其所持 | 占公司总 | 质押起始 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 其一致行动人 | 押数量（股） | 股份比例 | 股本比例 | 日 | | | | 王正根 | 是 | 2,500,000 | 5.24% | 0.89% | 2023/12/18 | 2024/12/19 | 中信证券股份有限 | | | ...