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有研硅: 有研硅2025年度“提质增效重回报”行动方案的半年度评估报告

Core Viewpoint - The company has made significant progress in its "Quality Improvement and Efficiency Enhancement" action plan for 2025, focusing on high-quality development and increasing investor returns through various strategic initiatives [1][2]. Group 1: Business Performance - In the first half of 2025, the company achieved operating revenue of 491 million yuan and a total profit of 150 million yuan, maintaining a high operating rate and a 37% year-on-year increase in 8-inch silicon wafer production [2][5]. - The company's comprehensive gross profit margin reached 39.98%, an increase of 5.16 percentage points compared to the same period last year [5]. Group 2: Research and Development - The company invested 44.2153 million yuan in R&D, accounting for 9.01% of its operating revenue, and has made advancements in new product development, including 8-inch zone-melt silicon wafers and ultra-low oxygen silicon wafers [3][4]. - The company received a national award for its project on "Innovation and Technology Improvement of Ultra-Large Size Monocrystalline Silicon" [3]. Group 3: Supply Chain and Cost Management - The company has focused on domestic sourcing of key raw materials and equipment, increasing the proportion of domestic procurement while ensuring quality, which has effectively reduced production costs and enhanced supply chain security [2][5]. - The company has implemented measures for systematic process optimization and cost control, enhancing operational efficiency [2]. Group 4: Financial Management - As of June 2025, the company maintained a cash balance of 643 million yuan and trading financial assets of 1.841 billion yuan, ensuring a strong liquidity position [5]. - The company has actively sought investment opportunities in the upstream and downstream sectors to optimize resource allocation and improve capital returns [5]. Group 5: Governance and Risk Management - The company has restructured its board to include a "Strategic and Sustainable Development Committee" to enhance governance and sustainability management [6]. - The company has established a market value management system and a public opinion management system to protect investor rights and enhance transparency [6]. Group 6: Investor Relations - The company emphasizes high-quality information disclosure, having published two regular reports and 24 temporary announcements in the first half of 2025, and received an "A" rating in ESG governance [7][8]. - The company maintains a 100% response rate on the Shanghai Stock Exchange's interactive platform, ensuring effective communication with investors [8]. Group 7: Shareholder Returns - The company has implemented a stable profit distribution policy, distributing a cash dividend of 0.6 yuan per 10 shares to shareholders, reflecting a commitment to sharing operational results with investors [9]. - The company has granted stock options to key personnel to align their interests with those of shareholders, reinforcing a shared responsibility for long-term value creation [9][10].