证券日报网讯12月30日，华大九天（301269）在互动平台回答投资者提问时表示，公司始终秉持开放协 作的态度，积极与EDA领域具备技术互补的合作伙伴开展合作。关于对外投资，公司将严格按照法律 法规及监管要求履行信息披露义务。 ...

证券日报网讯12月30日，华大九天（301269）在互动平台回答投资者提问时表示，根据《中央企业国有 资本经营预算支出执行监督管理办法》(国资发资本规[2024]71号)文件规定："对于暂无增资计划的股权 多元化子企业，可列作委托贷款，在具备条件时及时转为股权投资"。因公司目前尚不具备国有资本金 注资条件，为满足国有资本经营预算资金的使用要求，中国电子集团拟以委托贷款方式向公司拨付国有 资本经营预算资金。 ...

统一社会信用代码：91110105690013756F 名称：北京华大九天科技股份有限公司 类型：其他股份有限公司（上市） 法定代表人：刘伟平 证券代码：301269 证券简称：华大九天 公告编号：2025-080 北京华大九天科技股份有限公司 关于完成工商变更登记的公告 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。 北京华大九天科技股份有限公司（以下简称"公司"）于 2025 年 12 月 9 日 召开第二届董事会第二十一次会议，并于 2025 年 12 月 26 日召开 2025 年第二次 临时股东大会，审议通过《关于变更注册资本及修订<公司章程>的议案》，具体 内容 详见 公司 于 2025 年 12 月 9 日和 2025 年 12 月 26 日在 巨潮 资讯 网 （http://www.cninfo.com.cn）上披露的相关公告。 公司已于 2025 年 12 月 30 日完成了相关工商变更登记和备案等手续，并取 得了北京市朝阳区市场监督管理局换发的《营业执照》，现将相关情况公告如下： 一、变更后的营业执照基本信息 的项目，经相关部门批准后依批准 ...

Core Insights - The core point of the news is that Xinhao Semiconductor has completed its IPO counseling work and is entering the final stage of its IPO process, marking a significant milestone for this leading domestic EDA company [1][4]. Financial Performance - In 2024, Xinhao Semiconductor achieved a revenue of 265 million yuan, more than doubling from 106 million yuan in 2023, with a net profit of 48.1282 million yuan, indicating a turnaround from losses in 2023 [1][4]. - The company's growth is attributed to its applications in 5G communication, smartphones, IoT, artificial intelligence, and data centers, as well as the increasing market recognition of its full-stack EDA solutions [1][4]. Product and Technology - Xinhao Semiconductor's core products span the entire chain from chips, packaging, modules, PCB-level interconnections to complete systems, supporting advanced packaging technologies like Chiplet [1][4]. - The self-developed 3DIC Chiplet advanced packaging simulation platform, Metis, won the CIIF award at the China International Industry Fair in September 2025, symbolizing a breakthrough in domestic EDA technology [1][5]. Market Dynamics - The company has been active in capital operations, having initiated its A-share IPO counseling on February 7, 2025, shortly before a proposed acquisition by Huada Jiutian was announced, which was later terminated due to disagreements on core terms [2][5]. - The domestic EDA market has been dominated by foreign companies, with major players like Synopsys, Cadence, and Siemens holding 74% of the global market share in 2024. The domestic EDA localization rate increased from 6% in 2018 to 11% in 2021 [2][5]. - Xinhao Semiconductor's decision to pursue an independent IPO reflects the competitive dynamics in the EDA market and may allow the company to maintain its unique technological path and proactively adjust its market strategy [2][5].

Global Semiconductor Market Analysis - The global semiconductor market is projected to reach $659.1 billion in 2024, representing a year-on-year growth of 20.0%, and is expected to grow to $789.3 billion by 2025 [2][14] - Integrated circuits will account for the largest share at 73.9%, while artificial intelligence chips will see the fastest growth at 49.3% [2][14] - In 2023, the top ten companies in the global semiconductor market are primarily from the US, Taiwan, and South Korea, with no mainland Chinese companies in the top ranks [2][16] China Semiconductor Market Analysis - China's semiconductor market is expected to reach $176.9 billion in 2024, with a year-on-year growth of 15.9%, and is projected to reach $206.7 billion by 2025 [2][16] - Integrated circuits will dominate the Chinese market, accounting for $139.3 billion, or 78.7% of the total market, with artificial intelligence chips growing at 48.3% [2][16] Historical Development of the Semiconductor Industry - The global semiconductor industry has evolved through four major phases: the rise of personal computers and the internet (1986-1999), network communications and consumer electronics (2000-2010), the smartphone and 3G/4G/5G era (2010-2020), and the current AI technology and data center phase (2023-present) [3][21][24] Semiconductor Industry Chain Overview - The semiconductor industry chain consists of upstream (EDA/IP, semiconductor equipment, semiconductor materials), midstream (semiconductor design, wafer manufacturing, and packaging/testing), and downstream (packaging and testing) segments [6][62] - Upstream EDA/IP is dominated by companies like Synopsys and Cadence, while semiconductor equipment is led by ASML for EUV lithography, with high industry concentration [6][62] Future Development Directions in the Semiconductor Industry - Key future development areas in the semiconductor industry include third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory [8][10] Investment Recommendations - The domestic semiconductor industry is expected to make breakthroughs in upstream core equipment, materials, and software, driven by national policies and international dynamics [9] - Investment opportunities are particularly promising in third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth storage [9][10]

Investment Rating - The report rates the semiconductor industry as "Outperform" compared to the market [1] Core Insights - The global semiconductor market is projected to reach USD 659.1 billion in 2024, with a year-on-year growth of 20.0%, and is expected to grow to USD 789.3 billion in 2025 [2][13] - Integrated circuits will account for the largest share of the market at 73.9% in 2024, while artificial intelligence chips are anticipated to grow the fastest at 49.3% [2][13] - The report identifies four key future development directions for the semiconductor industry: third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory [2] Summary by Sections 1. Semiconductor Market Analysis - The global semiconductor market is expected to grow significantly, with integrated circuits leading the market share [13][15] - The Chinese semiconductor market is projected to reach USD 1,769 billion in 2024, with a year-on-year growth of 15.9% [15][17] 2. Historical Development of the Semiconductor Industry - The semiconductor industry has evolved through four major phases, driven by technological advancements and market demands [20][22] - The current phase is characterized by AI technology and data centers driving growth [22][23] 3. Semiconductor Industry Chain - The semiconductor industry chain consists of upstream (EDA/IP, semiconductor equipment, materials), midstream (design, wafer manufacturing, packaging), and downstream (packaging and testing) segments [64][73] - The report highlights the importance of domestic companies in advancing technology and achieving breakthroughs in core areas [2][64] 4. Future Development Directions - The report emphasizes the potential of third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory as key growth areas [2][4]

证券代码：301269 证券简称：华大九天 公告编号：2025-078 北京华大九天科技股份有限公司 2025 年第二次临时股东大会决议公告 一、会议召开情况 通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 12 月 26 日 9:15—9:25，9:30—11:30 和 13:00—15:00； 通过深圳证券交易所互联网投票系统投票的时间为 2025 年 12 月 26 日上午 9:15 至下午 3:00 期间的任意时间。 2、现场会议地点：北京市朝阳区利泽中二路 2 号 A 座公司会议室 3、会议召开方式：现场投票和网络投票相结合的方式 6、会议的召集、召开与表决程序符合《公司法》、《上市公司股东会规则》 及《公司章程》等法律、法规及规范性文件的规定。 二、会议出席情况 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： 1、本次股东大会不存在否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 1、股东出席情况 1 1、召开时间： （1）现场会议时间：2025 年 12 月 26 日下午 2:30 （2）网络投票时 ...

关于北京华大九天科技股份有限公司 2025 年第二次临时股东大会 之法律意见书 致：北京华大九天科技股份有限公司 北京市金杜律师事务所（以下简称本所）接受北京华大九天科技股份有限 公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券 法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委 员会（以下简称中国证监会）《上市公司股东会规则》（以下简称《股东会规则》） 等中华人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包括 中国香港特别行政区、中国澳门特别行政区和中国台湾省）现行有效的法律、 行政法规、规章、规范性文件和现行有效的《北京华大九天科技股份有限公司 章程》（以下简称《公司章程》）有关规定，指派律师出席了公司于 2025 年 12 月 26 日召开的 2025 年第二次临时股东大会（以下简称本次股东大会），并就 本次股东大会相关事项出具本法律意见书。 北京市金杜律师事务所 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限 于： 1. 经公司 2022 年第二次临时股东大会审议通过的《公司章程》； 2. 公司 2025 年 12 月 9 日 ...

根据《中华人民共和国公司法》（以下简称《公司法》）、《上市公司章程指引》 的相关要求和规定，北京华大九天科技股份有限公司（以下简称"公司"）于 2025 年 12 月 26 日召开 2025 年第二次临时股东大会，审议通过了《关于变更注 册资本及修订<公司章程>的议案》。根据修订后的《北京华大九天科技股份有限 公司章程》（以下简称《公司章程》），公司董事会由 12 名董事组成，职工代表董 事 1 名。董事会中的职工代表由公司职工通过职工代表大会、职工大会或者其他 形式民主选举产生，无需提交股东会审议。 公司于近日召开了职工代表大会，经与会职工代表审议，一致同意选举于士 涛先生为职工代表董事（简历详见附件），任期与第二届董事会任期相同。 于士涛先生当选公司职工代表董事后，与股东大会选举产生的非职工代表董 事共同组成公司第二届董事会。公司第二届董事会成员中兼任公司高级管理人员 以及由职工代表担任的董事人数未超过公司董事总数的二分之一，符合相关法律 法规、规范性文件及《公司章程》的要求。 特此公告。 北京华大九天科技股份有限公司董事会 证券代码：301269 证券简称：华大九天 公告编号：2025-079 北京华大 ...

Core Viewpoint - The A-share merger and acquisition (M&A) market has seen a significant revival in 2025, with a total of 6,074 M&A events reported, including 279 major restructurings, marking a nearly twofold increase from the previous year. The total disclosed transaction amount reached 1.87 trillion yuan, over ten times higher than last year. However, one-quarter of these major transactions ended in failure, highlighting underlying challenges in the market [1][3][12]. Group 1: Market Performance - The number of major restructuring events in the A-share market has increased significantly, with 279 major restructurings reported this year, compared to 72 last year [1][3]. - The total disclosed transaction amount for M&A activities reached 1.87 trillion yuan, reflecting a growth of over ten times compared to the previous year [1][3]. - The approval rate for M&A applications in the Shanghai, Shenzhen, and Beijing stock exchanges reached 100%, with 39 companies' applications reviewed this year, a 160% increase from last year [3][12]. Group 2: Reasons for Failure - A total of 72 major restructurings failed this year, primarily due to market factors such as changes in market conditions, disagreements on valuation, and inconsistent interests among minority shareholders [3][12]. - The semiconductor and biopharmaceutical sectors experienced higher failure rates, with 12 and 8 failed restructurings, respectively, attributed to significant valuation discrepancies and the nature of their business models [4][5][12]. - Notable failed transactions included the merger between Haier Biomedical and Shanghai Laister, which was terminated after only 15 days of planning, indicating a trend of rapid failures in the current market [6][15]. Group 3: Market Dynamics - The current market environment has led to impulsive M&A decisions, with companies eager to initiate transactions without thorough negotiations, resulting in many deals being called off [2][11]. - The introduction of new IPO policies has influenced companies' attitudes towards M&A, with many firms reassessing their strategies in light of the evolving regulatory landscape [5][14]. - The phenomenon of "flash crash" terminations has become more common, with 18 failed restructurings occurring within 100 days of announcement, indicating a lack of adequate negotiation time [6][15]. Group 4: Investor Behavior - Investors are advised to be cautious of "hype-driven" restructurings, focusing on whether the M&A aligns with the company's long-term strategy and whether there is substantial synergy [8][17]. - The speculative nature of some M&A announcements has led to significant stock price fluctuations, with examples of companies experiencing over 400% price increases before ultimately failing to complete their transactions [7][17]. - The market's reaction to M&A announcements has been volatile, with many investors engaging in irrational speculation, particularly in sectors like semiconductors and renewable energy [7][16].