北方华创上半年营收同比增近30%、净利增长近15%，但由于订单和研发投入增加，经营活动净现金流出同比扩大约9倍。公司并购支出增加，也 导致投资活动现金流同比下滑超2倍。 8月28日周四，北方华创发布半年业绩报告。具体来看：上半年营收161.4亿元，同比增长29.51%。上半年归母净利润32.1亿元，同比增长 14.97%。扣非净利润31.8亿元，同比增长20.17%。经营活动现金流净额为-31.91亿元，较去年同期-3.14亿元大幅减少917.34%。总资产843.4亿元， 较年初增长27.09%。基本每股收益4.45元，同比增长14.23%。2024年度的分红方案为每10股派息10.60元，同时每10股转增3.5股。 | H TTH LTCT H | | | | | | --- | --- | --- | --- | --- | | | 本报告期 | 上年同期 | | 本报告期比上年 同期增减 | | | | 调整前 | 调整后 | 调整后 | | 营业收入(元) | 16,141,546,184.74 | 12,334,907,204.28 | 12,463,584,943.88 | 29.51% | | ...

Core Viewpoint - In the first half of 2025, Huasheng Tiancai achieved a turnaround with a net profit of 140 million yuan, driven by substantial investment returns from companies like Tailin Micro and Haibo Sichuang, despite ongoing losses in its core digital services business [2][10]. Financial Performance - Huasheng Tiancai reported a revenue of 2.262 billion yuan, marking a year-on-year increase of 5.11% [2]. - The company realized an investment income of 238 million yuan, significantly exceeding its net profit [2][10]. - The core business continued to incur losses, with a non-recurring net profit of -83.31 million yuan [10]. Investment Highlights - The investment income primarily stemmed from Tailin Micro, which saw a stock price increase of approximately 45% in the first half of 2025 [4][7]. - Huasheng Tiancai holds 17.8619 million shares of Tailin Micro, representing 7.42% of its total share capital, making it the largest shareholder [3][4]. - The company also benefited from investments in Haibo Sichuang and Youyou Green Energy, both of which successfully completed IPOs in 2025 [7][8]. Strategic Focus - Huasheng Tiancai is focusing on high-value areas such as generative AI, cloud-native technology, and digital twins, targeting sectors like government, finance, and energy [10]. - The company aims to leverage its investment strategy to support the growth of its core business and achieve synergy with its investment portfolio [10][11]. Market Position - As of August 28, 2025, Huasheng Tiancai's stock price was 26.10 yuan per share, with a total market capitalization of 28.6 billion yuan, reflecting a year-to-date increase of 260% [11].

格隆汇8月28日丨北方华创(002371.SZ)公布2025年半年度报告，上半年公司实现营业收入161.42亿元， 同比增长29.51%；归属于上市公司股东的净利润32.08亿元，同比增长14.97%；归属于上市公司股东的 扣除非经常性损益的净利润31.81亿元，同比增长20.17%；基本每股收益4.4496元。 ...

Summary of North Huachuang Conference Call Company Overview - North Huachuang was formed through the merger of Qixing Electronics and North Microelectronics, benefiting from domestic substitution and policy support since 2019, with revenue expected to reach 30 billion yuan in 2024, maintaining an annual growth rate of over 50% [2][7][19] - The company's business is divided into four main segments: semiconductor equipment, vacuum equipment, new energy lithium battery equipment, and precision components, with semiconductor equipment accounting for approximately 80% of revenue [2][5] Key Insights - North Huachuang has a strong state-owned background, with major shareholders including Qixing Huadian and Beijing Electric Control, holding over 40% of shares, yet operates with a market-oriented approach [2][6] - The company has stable order growth of about 30% annually, with order amounts projected to reach 38 billion yuan in 2024 and 48 billion yuan in 2025, indicating strong performance predictability [2][9] - The gross margin for component business has declined, while electronic industrial equipment and integrated circuit equipment maintain gross margins above 40% and 45%, respectively, with overall net profit margin around 20% [2][10][11] Business Performance - Revenue growth accelerated from 1.6 billion yuan in 2016 to 30 billion yuan in 2024, driven by increased domestic substitution demand and policy support following the US-China decoupling [7][8] - The company’s order growth has been robust, with orders increasing from 17.5 billion yuan in 2022 to 30 billion yuan in 2023, and projected to reach 48 billion yuan in 2025 [9] Employee and R&D Insights - As of the end of 2024, North Huachuang has nearly 20,000 employees, including about 5,000 in R&D, which supports its business expansion and talent retention [12][13] - The company implements stock incentives to bind employee interests, which is crucial in the competitive semiconductor equipment industry [14][15] Market Position and Strategy - North Huachuang has a comprehensive layout in the semiconductor equipment market, covering key areas such as thermal processing, thin film deposition, etching, cleaning, and coating, while actively expanding into overseas markets [3][16][18] - The global semiconductor equipment market is currently valued at approximately 100 billion USD, with North Huachuang aiming to expand its product categories to enhance market presence [17] Investment Recommendation - Investment in North Huachuang is recommended due to its relatively low valuation, consistent growth rate of 30% to 40%, and potential for international expansion, positioning it as a significant supplier in the semiconductor equipment sector [19] Demand for Domestic Equipment - Wafer fabs are increasingly seeking cost-effective and efficient solutions, particularly in mature processes, indicating a strong demand for domestically produced equipment that offers competitive pricing and performance [20]

每经记者｜胥帅 每经编辑｜董兴生 今年2月，四川省国资改革的一件大事就是四川能源发展集团有限责任公司（以下简称"四川能源发展集 团"）揭牌成立。 《每日经济新闻》记者注意到，华海清科是高端半导体装备供应商，处于集成电路制造上游关键产业 链。 华海清科的控股股东是清控创业投资有限公司，穿透后股东是四川能源发展集团。四川能源发展集团成 立于今年2月，成立后，集团总资产超3900亿元。从规划布局来看，四川能源发展集团将持续做强做优 做大综合能源核心主业，大力培育发展先进制造、高端化工和医药健康多元产业。 半年后，四川能源发展集团有了大动作，欲推动旗下高端半导体设备企业华海清科（688120.SH，股价 129.99元，市值459.39亿元）在港股上市。8月28日晚间，华海清科公告称，港股上市目的是加快推进公 司的国际化战略及海外业务布局，持续吸引并集聚优秀的国际化研发与管理人才。 若华海清科在港股成功上市，其将成为四川能源发展集团旗下首家在A股和港股两地上市的企业。 实际控制人曾是清华大学 8月28日晚间，华海清科公告称，为加快推进公司的国际化战略及海外业务布局，持续吸引并集聚优秀 的国际化研发与管理人才，进一步提 ...

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with total revenue reaching 1.05 billion and a net profit of 192 million, reflecting year-on-year growth of 33.42% and 348.95% respectively [1] - The semiconductor equipment segment has emerged as a new growth driver, with revenue of 194 million, a year-on-year increase of 27.17%, and its share of main business revenue rising to 18.45% [1] - The company has a strong order backlog in the semiconductor sector, amounting to 2.328 billion, which is a 54.72% increase from the beginning of the year, with new orders exceeding the total for the previous year [1] - The photovoltaic equipment revenue remained robust at 804 million, showing a year-on-year growth of 31.53% [1] - The company issued convertible bonds totaling 1.17 billion, which are set to be listed on the Shanghai Stock Exchange, with proceeds aimed at enhancing semiconductor thin-film deposition equipment and expanding R&D facilities [1] - The company plans to continue its innovation-driven development strategy, increasing investment in the semiconductor field and maintaining a leading position in next-generation photovoltaic battery technology [2]

Group 1 - The company, ChipSource Micro, announced on August 28 that its third board meeting approved several proposals, including the adjustment of the grant price for the 2023 restricted stock incentive plan [2]

转自：智通财经 【北方华创：上半年净利润32.08亿元 同比增长14.97%】智通财经8月28日电，北方华创(002371.SZ)公 告称，公司上半年实现营业收入161.42亿元，同比增长29.51%；净利润32.08亿元，同比增长14.97%。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 ...

北方华创公告，2025年上半年净利润32.08亿元，同比增长14.97%。 ...

北方华创8月28日披露半年报，公司上半年实现营业收入161.42亿元，同比增长29.51%；归属于上市公 司股东的净利润32.08亿元，同比增长14.97%；基本每股收益4.4496元/股。 ...