公司布局"6+8+12"英寸产线，8英寸与6英寸晶圆生产线具备多种工艺平台量产能力，12英寸生产线部分工艺平 台也已实现量产。 【燕东微】有望代工长鑫晶圆，14nm注入带来增量 公司布局"6+8+12"英寸产线，8英寸与6英寸晶圆生产线具备多种工艺平台量产能力，12英寸生产线部分工艺平 台也已实现量产。 硅光布局方面，整合8/12英寸CMOS兼容工艺线，率先完成硅光工艺平台量产。 核心逻辑：属地化配套+先进制程突破 1 明确的属地化配套需求： 长鑫北京有望采用"本地代工"策略，其逻辑晶圆代工需求将创造巨大市场空间。 2关键的先进制程突破预期： 公司正推进14nm先进制程产线的实质性落地（已进入设备采购环节），若规划全面 落地，市值具备巨大想象空间。 风险提示： 技术进展不及预期；下游需求不及预期。 硅光布局方面，整合8/12英寸CMOS兼容工艺线，率先完成硅光工艺平台量产。 核心逻辑：属地化配套+先进制程突破 1 明确的属地化配套需求： 长鑫北京有望采用"本地代工"策略 【燕东微】有望代工长鑫晶圆，14nm注入带来增量 ...

Financial Performance - The company reported a revenue of 658.94 million yuan for the first half of the year, representing a year-on-year increase of 6.85% compared to 616.71 million yuan in the same period last year [1][3] - The net profit attributable to shareholders was 127.61 million yuan, marking a turnaround from a loss of 15.13 million yuan in the previous year [1][3] - The net profit excluding non-recurring gains and losses was -389.84 million yuan, compared to a loss of 73.54 million yuan in the same period last year [1] Cash Flow and Assets - The net cash flow from operating activities was 221.15 million yuan, an increase of 7.88% from 204.99 million yuan in the previous year [1] - The net assets attributable to shareholders at the end of the reporting period were 14.77 billion yuan, a slight increase of 0.62% from 14.68 billion yuan at the end of the previous year [1] - Total assets increased by 3.34% to 24.86 billion yuan from 24.06 billion yuan at the end of the previous year [1] Research and Development - The company invested 364.01 million yuan in R&D during the reporting period, a significant increase of 221.21% year-on-year [1] Industry Developments - The 28nm 12-inch integrated circuit production line project is progressing well, with the main plant and CUB building already topped out [2] - The company is actively developing multiple process routes including 55nm, 40nm, and 28nm simultaneously [2] - The company has made breakthroughs in the silicon photonics industry, achieving mass production of silicon photonics technology and launching SiN silicon photonics PDK 1.5, which has received customer recognition [2] Business Segments - The manufacturing and service business segment achieved a revenue of 333.03 million yuan, reflecting an 18.69% year-on-year growth [2] - The company is focusing on technology and product innovation, expanding strategic customer outreach, and promoting products in key areas such as silicon photonics [2] - The 65nm 12-inch production line continues to attract major clients and has introduced over 60 new products [2]