Group 1 - The company has decided to extend the completion date of the "Annual Production of 1.8 Million 12-inch Semiconductor Silicon Epitaxial Wafer Project" to December 2027 due to market conditions and demand fluctuations [3][6][8] - The company raised a total of RMB 339 million through the issuance of convertible bonds, with a net amount of RMB 337.81 million after deducting issuance costs [1][2] - As of December 31, 2025, the cumulative investment from the raised funds amounted to RMB 286.99 million, excluding issuance costs [2] Group 2 - The project was initially delayed to May 2026 due to weak market conditions affecting the semiconductor industry, leading to underutilization of existing production capacity [3][5] - The construction of the new epitaxial workshop has reached the roofing stage and is expected to be completed by August 2026, followed by equipment installation and debugging [6][7] - The company has observed a recovery in the semiconductor silicon wafer industry since Q1 2025, with increased demand for high-end power devices, prompting a faster project construction pace [7] Group 3 - The board of directors approved the project delay during a meeting on January 9, 2026, and the decision followed necessary procedures [9][42] - The company has implemented a prudent investment strategy to protect shareholder interests and mitigate investment risks [5][8] - The company will continue to monitor market conditions and adjust the project implementation pace accordingly to ensure efficient use of raised funds [7][8]

Core Viewpoint - The announcements from the company reveal the completion of the 6-inch silicon polishing wafer project and the second delay of the 12-inch semiconductor silicon epitaxial wafer project, highlighting challenges in the semiconductor industry and adjustments in project timelines. Group 1: 6-inch Silicon Polishing Wafer Project - The 6-inch silicon polishing wafer project has officially completed as of January 9, 2026, with a total investment of 124,739.68 million yuan against a promised amount of 125,000 million yuan, resulting in a surplus of 1,840.24 million yuan [2] - The surplus funds will be fully allocated to the 12-inch semiconductor silicon epitaxial wafer project, as the surplus is below 5% of the committed investment, thus not requiring board approval [2] Group 2: 12-inch Semiconductor Silicon Epitaxial Wafer Project - The timeline for the 12-inch semiconductor silicon epitaxial wafer project has been postponed from May 2026 to December 2027, marking the second delay after an initial postponement from April 2024 [3] - The project has a planned investment of 113,000 million yuan, with 62,263.61 million yuan already invested, reflecting a progress rate of 55.10% as of December 31, 2025 [3] - The delay is attributed to the downturn in the semiconductor silicon wafer industry, leading to underutilization of existing capacity and increased profitability pressure, prompting the company to slow down construction and equipment procurement [3] Group 3: Industry Environment and Future Outlook - Since the first quarter of 2025, the semiconductor silicon wafer industry has seen a recovery in demand, with significant increases in order volumes and shipment quantities, particularly for high-end power devices [4] - The company has accelerated the construction pace of its projects since the second half of 2025 and plans to adjust the construction schedule dynamically based on market conditions [4]

（文章来源：证券日报） 证券日报网讯 1月9日，立昂微发布公告称，公司"年产600万片6英寸集成电路用硅抛光片项目"结项， 节余募集资金1840.24万元（含利息）全部转入在建的"年产180万片12英寸半导体硅外延片项目"，无需 董事会审议。 ...

Group 1 - The company, Hangzhou Lion Microelectronics Co., Ltd, has issued convertible bonds totaling 339 million RMB, with 3.39 million bonds at a face value of 100 RMB each [3][4][15] - The bonds have a maturity period of up to 6 years, with an interest rate that increases from 0.3% in the first year to 2.0% in the sixth year [4][6] - The initial conversion price for the bonds is set at 45.38 RMB per share, subject to adjustments based on various corporate actions [6][8] Group 2 - The company reported a significant decline in net profit for 2024, with a loss of 26.58 million RMB, a decrease of 504.18% compared to the previous year [18] - The total revenue for 2024 was 309.23 million RMB, reflecting a 14.97% increase from 2023 [18] - The company's total assets increased by 5.73% year-on-year, reaching 1.93 billion RMB by the end of 2024 [18] Group 3 - The company is engaged in the semiconductor industry, focusing on the research, production, and sales of semiconductor silicon wafers and power device chips [18] - The main applications of the company's products include 5G communication, automotive electronics, and artificial intelligence [18] - The company has faced challenges in project timelines due to external economic conditions, leading to delays in the construction of certain projects [21][22]