申万宏源证券承销保荐有限责任公司 关于安集微电子科技（上海）股份有限公司 持续督导之 2025 年度现场检查报告 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市 规则》《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关 法律、法规的规定，申万宏源证券承销保荐有限责任公司（以下简称"保荐机构"） 作为安集微电子科技（上海）股份有限公司（以下简称"公司"）持续督导工作的 保荐机构，对公司 2025 年度（以下简称"本持续督导期"）相关事项进行了现场 检查，现就现场检查情况报告如下： 一、本次现场检查的基本情况 （一）保荐机构 申万宏源证券承销保荐有限责任公司 （二）保荐代表人 以简易程序向特定对象发行股票项目保荐代表人： 康杰、周毅 向不特定对象发行可转换公司债券项目保荐代表人： 康杰、包建祥 （三）现场检查时间 2026 年 1 月 19 日-2026 年 1 月 21 日 （四）现场检查人员 康杰、袁圣杰 （五）现场检查内容 公司治理和内部控制、信息披露、独立性以及与控股股东及其他关联方资金 往来、募集资金使用、关联交易、对外担保、重大对外投资、公司经营状况以及 承诺履行 ...

Market Performance - The A-share market showed mixed results with the Shanghai Composite Index rising by 0.16% to close at 4157 points, while the Shenzhen Component Index fell by 0.3% and the ChiNext Index decreased by 0.57% [1] - The total market turnover reached 3.26 trillion yuan, an increase of 267.1 billion yuan compared to the previous trading day, with over 3500 stocks declining [1] Sector Highlights - The liquor sector experienced a surge, with Kweichow Moutai's price rising nearly 9%, and over twenty stocks including Wuliangye and Luzhou Laojiao hitting the daily limit [1] - The precious metals sector continued to rise, with spot gold approaching 5600 USD, leading to multiple stocks like Sichuan Gold and Zhaojin Gold hitting the daily limit [1] - AI application stocks collectively surged, with a significant increase in related stocks [1] - The cultural media sector also saw gains, with stocks like Zhejiang Wenlian hitting the daily limit [1] - Insurance stocks were active, with China Pacific Insurance leading the gains [1] - Real estate, oil and gas services, and banking sectors showed notable increases [1] Declines in Specific Sectors - The high-bandwidth memory and SMIC concepts faced declines, with Jingce Electronics dropping nearly 9% [1] - The electronic chemicals sector experienced widespread declines, with Anji Technology falling over 8% [1] - The electronic components and PCB sectors also saw declines, with Yidong Electronics dropping over 11% [1] - Other sectors such as power grid equipment, superconducting concepts, and optical communication modules faced significant downturns [1]

Core Viewpoint - The semiconductor materials and equipment sector is experiencing volatility, with the index showing a decline while certain stocks demonstrate mixed performance [1][2] Group 1: Index Performance - As of January 29, 2026, the CSI Semiconductor Materials and Equipment Theme Index (931743) decreased by 4.21% [1] - Over the past two weeks, the semiconductor equipment ETF from E Fund (159558) has increased by 7.04%, ranking 1 out of 5 among comparable funds [1] Group 2: Stock Performance - Leading stocks include Fuchuang Precision, which rose by 2.94%, and Jinhaitong, which increased by 0.98% [1] - Declining stocks include Jingyi Equipment, which fell by 8.91%, and Shenkong Co., which dropped by 8.69% [1] Group 3: ETF Trading Activity - The E Fund semiconductor equipment ETF had a turnover rate of 6.7% and a trading volume of 310 million yuan [1] - The average daily trading volume over the past week was 321 million yuan, placing it in the top 2 among comparable funds [1] Group 4: Fund Size and Inflows - The latest size of the E Fund semiconductor equipment ETF reached 4.758 billion yuan, marking a one-year high and ranking 2 out of 5 among comparable funds [1] - Recent net outflow was 2.2458 million yuan, but over the last five trading days, there were net inflows on four days, totaling 304 million yuan [1] Group 5: Index Composition - The top ten weighted stocks in the CSI Semiconductor Materials and Equipment Theme Index account for 65.08% of the index [2] - Key companies in the top ten include Northern Huachuang, Zhongwei Company, and Tuo Jing Technology [2]

截至2026年1月29日13:58，上证科创板半导体材料设备主题指数下跌3.91%。成分股方面涨跌互现，欧 莱新材领涨6.4%，富创精密上涨3.04%，耐科装备上涨0.99%；京仪装备领跌8.42%，安集科技下跌 8.03%，神工股份下跌7.27%。科创半导体ETF（588170）下跌3.86%，最新报价1.82元。流动性方面， 科创半导体ETF盘中换手10.8%，成交8.9亿元，市场交投活跃。 相关ETF：公开信息显示， 科创半导体ETF（588170）及其联接基金（A类：024417；C类：024418） 跟踪上证科创板半导体材料设备主题指数，囊括科创板中 半导体设备（60%）和半导体材料（25%）细 分领域的硬科技公司。 半导体设备和材料行业是重要的国产替代领域，具备国产化率较低、国产替代 天花板较高属性，受益于人工智能革命下的半导体需求，扩张、科技重组并购浪潮、光刻机技术进展。 半导体设备ETF华夏（562590）及其联接基金（A类：020356；C类：020357），指数中半导体设备 （63%）、半导体材料（24%）占比靠前，充分聚焦半导体上游。 爱建证券认为，存储芯片封测行业充分受益于下游需求市场 ...

Group 1: Semiconductor Market Performance - The Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index (950125) decreased by 3.11% as of January 29, 2026 [1] - Notable performers included Fuchuang Precision, which rose by 4.33%, and Oulaixin Materials, which increased by 3.42%, while Jingyi Equipment led the decline with a drop of 7.26% [1] - The ChiNext Semiconductor Materials and Equipment Theme Index (931743) fell by 3.45%, with Fuchuang Precision again leading gains at 3.82% [1] Group 2: ETF Performance - The Sci-Tech Semiconductor ETF (588170) declined by 3.17%, with a latest price of 1.83 yuan, and had a turnover rate of 8.94% with a transaction volume of 739 million yuan [1] - The Semiconductor Equipment ETF Huaxia (562590) also saw a decrease of 3.35%, with a latest price of 1.96 yuan and a turnover rate of 5.31% with a transaction volume of 160 million yuan [1] - Over the past week, the average daily transaction volume for the Sci-Tech Semiconductor ETF was 1.282 billion yuan, while the Semiconductor Equipment ETF Huaxia averaged 240 million yuan [1] Group 3: Alibaba's AI Chip Development - Alibaba's PingTouGe launched the high-end AI chip "Zhenwu 810E," which has been deployed in multiple large-scale clusters on Alibaba Cloud, serving over 400 clients including State Grid and Xiaopeng Motors [2] - This development positions Alibaba as the second global company, after Google, to possess a full-stack self-developed capability in "large models + cloud + chips" [2] - According to Shenwan Hongyuan, Alibaba is a rare domestic cloud provider with a complete self-developed technology system encompassing "chips, servers, cloud computing operating systems, and large models," with revenue and profit margins in the domestic top tier [2]

Group 1 - The A-share market experienced a collective decline on January 29, with the Shanghai Composite Index down by 0.06%. The ChiNext 50 Index fell by 0.24%, while the STAR 50 Index decreased by 2.08% [1] - The STAR 100 ETF (588800.SH) saw a net inflow of 100 million yuan over the past five trading days and 157 million yuan over the last ten days [1] - Among the top 50 weighted stocks in the STAR 100 Index, notable gainers included Xinke Mobile (+7.78%), Yirui Technology (+5.04%), and Fuchuang Precision (+4.18%), while Anji Technology and Weidao Nano experienced declines of -7.10% and -5.21%, respectively [1] Group 2 - A price increase wave has swept across the semiconductor sector, affecting various segments including LED drivers, analog chips, power devices, MCUs, and SoC chips, as manufacturers respond to rising costs and demand in AI-related applications [2] - The semiconductor industry is entering a new price adjustment cycle, with companies like Zhongwei Semiconductor and Fuman Microelectronics announcing price hikes of 15% to 50% and over 10%, respectively, due to rising raw material costs [1][2] - The STAR 100 ETF tracks the STAR 100 Index, which selects 100 medium-cap and liquid securities from the STAR Market, positioning it as a growth-oriented index suitable for investors seeking long-term growth and willing to accept high volatility [2]

Group 1 - Semiconductor concept stocks weakened, with Anji Technology falling over 5%, and Northern Huachuang, Zhongwei Company, and Lanke Technology dropping over 4% [1] - Chip and semiconductor-related ETFs declined by more than 2% [1] Group 2 - Various semiconductor ETFs experienced declines, with the E Fund Semiconductor Equipment ETF down 2.83% to 2.201, and the main Semiconductor ETF down 2.71% to 1.290 [2] - A brokerage noted that due to the explosive demand for AI and supply-side contraction, the storage chip market is currently in a price increase phase, leading to a performance surge for global storage industry companies [2] - The construction of storage production lines and the increase in domestic production rates are expected to accelerate, presenting investment opportunities in supporting semiconductor equipment and packaging and testing within the domestic storage chain [2]

2026年1月29日早盘，截至10:41，中证500质量成长指数下跌0.27%。成分股方面涨跌互现，网宿科技领 涨，湖南黄金、白银有色跟涨；厦门钨业领跌，安集科技、中信金属跟跌。500质量成长ETF(560500)下 修调整。规模方面，500质量成长ETF最新规模达5.60亿元。（文中所列示股票为指数成份股，仅做示 意不作为个股推荐。过往持仓情况不代表基金未来的投资方向，也不代表具体的投资建议，投资方向、 基金具体持仓可能发生变化，投资需谨慎） 消息方面，招商证券指出，刀具作为高端机加工核心耗材，正迎来格局重塑的历史性机遇：钨价持续新 高加剧中小企业成本压力甚至导致减产停工，而国产头部企业凭借原材料提前备库与顺价能力形成显著 利润剪刀差，叠加我国掌控全球80%以上钨资源并实施战略性供给收紧，日韩企业面临断供风险，需求 加速向具备稳定接单与供货能力的国内头部集中。这一结构性升级过程，凸显中盘制造企业在资源把 控、供应链韧性及技术迭代能力上的综合优势。 500质量成长ETF(560500)，场外联接(联接A：007593；联接C：007594)。 风险提示："中证500质量成长指数(930939)由中证指数有限公 ...

1月29日上午，A股三大指数走势分化，其中沪指下跌0.09%。截止10:03，科创100ETF华夏 （588800.SH）上涨0.13%。其他宽基指数中，上证50跌0.13%，科创50跌0.66%，创业板50涨0.11%，北 证50跌0.21%。 中国银河证券表示，短期经济结构性的特征依旧明显，政策支持的高端产业以及相关原材料行业仍是景 气重点。但A股市场的上行叠加政策对内需支持，有助于进一步刺激居民消费，带动消费动能释放。在 全球不确定性加剧的背景下，中国资产的确定性溢价有望持续提升。投资重点可关注政策支持的相关新 质生产力行业，以及受价格上涨支撑的部分原材料相关行业，这些板块在当前结构性机遇中仍具备较高 成长性和稳定收益潜力。 科创100ETF华夏（588800）跟踪上证科创板100指数，该指数从上海证券交易所科创板中选取市值中等 且流动性较好的100只证券作为样本。指数定位为科创板中小盘成长风格指数，与上证科创板50指数形 成互补。更适合能承受高波动、追求长期成长性的投资者，作为投资组合中的"卫星"配置来增强收益弹 性，其场外联接A/C：020291/020292。 以上内容与数据，与有连云立场无关，不 ...

Core Insights - The report highlights the steady growth in the semiconductor industry, with companies like Anji Technology and Guanggang Gas benefiting from the ongoing expansion cycle [14][15] - Anji Technology anticipates a revenue of 2.505 billion yuan for 2025, representing a 37% year-on-year increase, and a net profit of 795 million yuan, up 49% [14] - Guanggang Gas projects a revenue of 2.424 billion yuan for 2025, also reflecting a 15% year-on-year growth, with a net profit of 286 million yuan [15] Semiconductor Industry Overview - The semiconductor sector is experiencing a robust upturn, driven by high demand for DRAM and NAND chips, leading to significant price increases [15] - The report notes that the global semiconductor industry is entering a new capital expansion phase, with major players planning substantial capacity increases [14][15] Company-Specific Insights - Anji Technology's CMP polishing liquid market share is steadily increasing, with functional wet chemicals seeing rapid growth, contributing to high annual performance [14] - Guanggang Gas is benefiting from the high demand in the semiconductor industry, with existing projects and new ones coming online, leading to consistent quarterly revenue growth [15] Future Outlook - The semiconductor industry is expected to maintain its growth trajectory, with Anji Technology poised to benefit from new capacity releases in downstream sectors [14] - Guanggang Gas is also well-positioned to capitalize on the ongoing expansion in the semiconductor market, with numerous potential projects on the horizon [15]