Core Viewpoint - TSMC has placed an order for 10 units of 5nm plasma etching machines from Zhongwei Semiconductor Equipment, marking a significant achievement for Zhongwei in the semiconductor equipment sector [1][2]. Group 1: TSMC's Operations - TSMC's Nanjing factory, established in 2016 with an investment of approximately $3 billion, is a key part of TSMC's strategy in mainland China [3]. - The Nanjing facility achieved remarkable construction efficiency, completing the factory in 14 months and producing its first wafer within 6 months [3]. - The factory primarily focuses on 12nm and 16nm process technologies and has significantly enhanced local wafer foundry capabilities [3]. Group 2: Zhongwei Semiconductor Equipment - Zhongwei Semiconductor has successfully developed a 5nm etching machine that meets TSMC's stringent requirements, showcasing its technological maturity and reliability [1][2]. - The company has a strong track record in etching equipment, having progressed from 65nm to 5nm technology through continuous innovation and R&D investment [2]. - Zhongwei's etching equipment features advanced technology, including adjustable process stability, dual low-frequency RF sources, and a proprietary anti-corrosion reaction chamber [2]. Group 3: Market Position and Financials - Zhongwei Semiconductor is a leading player in the domestic semiconductor equipment market, with over 95% coverage of domestic etching needs and a projected revenue of approximately 7.277 billion yuan in 2024 [5]. - The company has experienced an average annual growth rate of over 50% in etching equipment revenue over the past four years [5]. - Zhongwei is also expanding into new areas, including GaN-based LED lighting and SiC power devices, while actively investing in over 30 upstream and downstream enterprises [6].

Company Performance - In 2024, the company achieved a revenue of approximately 4.103 billion, representing a year-on-year growth of 51.7% [1] - The net profit attributable to shareholders was 688 million, with a year-on-year increase of 3.86% [1] - However, in the first quarter of this year, the company reported a net loss of 147 million, attributed to high costs associated with new products and processes [1] Order Backlog and Market Outlook - The company has a robust order backlog, with an order amount of approximately 9.4 billion as of the end of 2024, indicating a healthy operational trend for 2025 [1] - The main products include thin film deposition equipment and advanced bonding equipment for 3D integration [1] Industry Position and Competition - The thin film deposition equipment industry is characterized by monopolistic competition, dominated by international giants such as Applied Materials, Lam Research, and Tokyo Electron, which hold about 70% of the CVD market [2] - The company has established a significant first-mover advantage in the domestic semiconductor equipment industry through its technological accumulation and rapid development [2] Research and Development - In 2023, the company's R&D investment reached 756 million, and in the first quarter of this year, it totaled 157 million, accounting for 22.38% of revenue, one of the highest among domestic semiconductor equipment companies [3] - The company launched over 10 new products/processes in 2024, including various thin film deposition equipment and advanced bonding equipment for 3D integration [3] International Expansion - The company's revenue is primarily sourced from mainland China, but it has established subsidiaries in Japan and Singapore to facilitate overseas market expansion [4] - The company plans to actively seek opportunities in overseas markets to continue its growth trajectory [4]

公司代码：688012 公司简称：中微公司 1、本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到www.sse.com.cn网站仔细阅读年度报告全文。 2、重大风险提示 报告期内，不存在对公司生产经营产生实质性影响的特别重大风险。公司已在报告中详细描述可能存在 的相关风险，敬请查阅第三节管理层讨论与分析"四、风险因素"部分内容。 3、本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实性、准确性、完整 性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 4、公司全体董事出席董事会会议。 5、普华永道中天会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 6、公司上市时未盈利且尚未实现盈利 □是 √否 7、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司拟向全体股东每10股派发现金红利3.00元（含税）。截止2024年12月31日，公司总股本622,363,735 股，扣除公司回购专户的股份余额2,096,273股，即620,267,462股，以此计算合计拟派发现金红利 186,080,238. ...