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因关键设备依赖进口存不确定新,武汉凡谷终止入股武汉光钜

Core Viewpoint - Wuhan Fangu announced the termination of its investment in Wuhan Guangju Microelectronics to protect the company's and shareholders' interests and control investment risks [2][3] Group 1: Investment Decision - On March 12, 2025, Wuhan Fangu approved a capital increase plan to invest RMB 100 million in Wuhan Guangju, with RMB 11.2068 million allocated to registered capital and RMB 88.793194 million to capital reserves [2] - The investment aimed to support Wuhan Guangju's business development and capacity expansion [2] Group 2: Challenges Faced by Wuhan Guangju - The operating environment for Wuhan Guangju has significantly changed due to external policy fluctuations and intensified domestic industry competition, leading to increased uncertainty in its medium to long-term development [2] - Supply chain challenges include geopolitical impacts on core raw material supplies, limited procurement channels, and rising material prices, particularly for key materials like photoresist and high-purity electronic gases [2] - Capacity expansion challenges arise from reliance on imported key production equipment, with uncertainties in procurement costs and delivery timelines, despite efforts to localize the supply chain [2] Group 3: Market Competition - The domestic RF front-end market is experiencing intensified competition with severe product homogeneity, leading to irrational price competition in 2025, which has significantly reduced product prices for Wuhan Guangju [3] - The company faces challenges in turning profitable in the short term due to these competitive pressures [3] Group 4: Termination Agreement - Following a reassessment of the investment project, Wuhan Fangu decided to terminate the investment to mitigate uncertainties and enhance capital efficiency [3] - On September 25, 2025, a termination agreement was signed, requiring Wuhan Guangju to refund the RMB 100 million investment and corresponding interest within 30 days [3]