Hwatsing Technology (SH:688120) Shang Hai Zheng Quan Bao·2025-06-27 21:19Project Overview - The project is named "Hua Hai Qing Ke Wafer Recycling Expansion Project" with a planned total capacity expansion of 400,000 wafers per month, where the initial construction capacity will be 200,000 wafers per month [5][6] - The initial investment is expected to not exceed 500 million RMB, with the final investment amount to be determined based on actual expenditures [5][8] - The funding will come from the company's own and self-raised funds [2][8] Project Implementation - The project will be implemented by a newly established wholly-owned subsidiary of the company [7][9] - The construction period is expected to be no more than 18 months, subject to actual progress [3][9] - The investment does not require approval from the board of directors or shareholders as it does not meet the threshold for such review [3][15] Market Context and Strategic Importance - The project aims to capitalize on the accelerated expansion of wafer manufacturing, enhancing the company's first-mover advantage and scale effect [5][15] - The integrated circuit industry is supported by national policies aimed at boosting innovation and international competitiveness, creating a favorable environment for project implementation [9] - The company has established a strong market position in wafer recycling, currently achieving a production capacity of approximately 200,000 wafers per month and receiving stable orders from major production lines [10][11] Technical and Operational Advantages - The company utilizes advanced Chemical Mechanical Polishing (CMP) and cleaning technologies, which are critical in the wafer recycling process, enhancing the competitiveness in advanced process wafer recycling services [11][12] - The existing customer base overlaps significantly with the integrated circuit manufacturing sector, providing a solid foundation for market expansion in wafer recycling [12] Impact on Company Performance - The expansion project is expected to enhance the company's production capacity and market share in wafer recycling, ultimately benefiting shareholders and improving overall company performance [15]