证券代码：688012 证券简称：中微公司 公告编号：2025-023 第三个归属期归属结果暨股份上市的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为755,028 股。 本次股票上市流通总数为755,028股。 本次股票上市流通日期为2025 年 4 月 29 日。 根据中国证监会、上海证券交易所、中国证券登记结算有限责任公司上海分公 司有关业务规则的规定，中微半导体设备（上海）股份有限公司于 2025 年 4 月 24 日收到中国证券登记结算有限责任公司上海分公司出具的《证券变更登记证明》， 公司于 2025 年 4 月 23 日完成了 2022 年限制性股票激励计划第三个归属期的股份 登记工作。现将有关情况公告如下： 一、本次限制性股票归属的决策程序及相关信息披露 中微半导体设备（上海）股份有限公司 关于 2022 年限制性股票激励计划 （1）2022 年 3 月 9 日，公司召开第二届董事会第三次会议，会议审议通过了 《关于公司< ...

中微半导体设备（上海）股份有限公司2025 年第一季度报告 证券代码：688012 证券简称：中微公司 中微半导体设备（上海）股份有限公司 2025 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示 中微半导体设备（上海）股份有限公司（以下简称"公司"）在过去 14 年保持营业收入年均增 长大于 35%的基础上，2025 年第一季度营业收入继续保持高速增长，同比增长 35.40%，达到 21.73 亿元。 公司站在先进制程工艺发展的最前沿，坚持技术的创新、产品的差异化和知识产权保护的基 本原则。坚持原创的设计，和国际领先的半导体客户公司同步前行。公司针对先进逻辑和存储器 件制造中关键刻蚀工艺的高端产品新增付运量显著提升，先进逻辑器件中段关键刻蚀工艺和先进 存储器件超高深宽比刻蚀工艺实现量产。公司为先进存储器件和逻辑器件开发的六种薄膜设备已 经顺利进入市场，公司开发的薄膜设备性能达到国际领先水平，并同步推进多款金属薄膜气相设 备、新一代等离子体源的 PECVD 设备的开发，增加薄膜设备的覆盖率。公 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 226.67 CNY [3][5][9] Core Insights - The company has shown continuous high revenue growth, with a projected revenue of 90.7 billion CNY in 2024, representing a 45% year-on-year increase [8] - The company significantly increased its R&D investment to approximately 2.45 billion CNY in 2024, a 94% increase compared to the previous year, driven by the rising demand for new equipment [8] - The company's contract liabilities surged by 235% to approximately 2.59 billion CNY by the end of 2024, indicating strong order expectations [8] Financial Performance Summary - Revenue (in million CNY) is projected to grow from 6,264 in 2023 to 20,009 in 2027, with year-on-year growth rates of 32%, 45%, 33%, 30%, and 28% respectively [4] - The net profit attributable to the parent company is expected to rise from 1,786 million CNY in 2023 to 4,463 million CNY in 2027, with growth rates of 53%, -10%, 51%, 38%, and 33% [4] - The gross margin is projected to decline from 45.8% in 2023 to 41.1% in 2024, primarily due to structural changes in customer composition and discounts offered [8] Equipment Sales and Market Position - The company experienced significant growth in etching equipment sales, with over 1,200 reaction chambers shipped in 2024, marking a historical high [8] - The company's new deposition equipment, including LPCVD and ALD, has successfully entered the market, with over 150 reaction chambers shipped in 2024 [8] - The ICP etching equipment has been installed in over 1,025 reaction chambers across more than 50 customer production lines, achieving an average annual growth rate exceeding 100% over the past four years [8]

营收持续高增，打造设备平台化布局 中微公司 688012.SH 公司研究 | 年报点评 核心观点 盈利预测与投资建议 ⚫ 我们预测公司 25-27 年归母净利润分别为 24.3、33.6、44.6 亿元（原 25-26 年预测 为 23.1、31.3 亿元，主要调整了主营业务收入），采用 DCF 估值法，给予 226.67 元目标价，维持买入评级。 风险提示 ⚫ 研发费用增长影响盈利；晶圆厂扩产进度影响后续新增订单增长；业绩不及预期。 公司主要财务信息 | | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入(百万元) | 6,264 | 9,065 | 12,049 | 15,624 | 20,009 | | 同比增长 (%) | 32% | 45% | 33% | 30% | 28% | | 营业利润(百万元) | 1,980 | 1,704 | 2,584 | 3,715 | 5,083 | | 同比增长 (%) | 57% | -14% | 52% | 44% | 37% | | 归 ...

Flash | 17 Apr 2025 13:58:19 ET │ 12 pages Advanced Micro-Fabrication Eq (688012.SS) 2024 Results In-Line with Preliminary, Etcher Revenue Up 55% YoY CITI'S TAKE AMEC today (17 Apr) released its 2024 official results, with revenue and gross profit up 45% and 36% YoY in 2024, both of which are in line with its 2024 preliminary results. Despite strong gross profit growth, net profit dropped by 9% YoY to Rmb1.61bn in 2024, mainly due to lower investment incomes. GPM also contracted by 2.8pp YoY to 41.1% in 202 ...

电子/半导体 中微公司（688012.SH） 收入实现高增，高端化+平台化战略稳步推进 2025 年 04 月 20 日 投资评级：买入（维持） | 日期 | 2025/4/20 | | --- | --- | | 当前股价(元) | 190.00 | | 一年最高最低(元) | 256.99/115.50 | | 总市值(亿元) | 1,182.49 | | 流通市值(亿元) | 1,182.49 | | 总股本(亿股) | 6.22 | | 流通股本(亿股) | 6.22 | | 近 3 个月换手率(%) | 82.17 | 股价走势图 数据来源：聚源 -30% 0% 30% 60% 90% 2024-04 2024-08 2024-12 2025-04 中微公司 沪深300 相关研究报告 《Q3 业绩同环比高增，刻蚀龙头高端 产品加速放量—公司信息更新报告》 -2024.10.31 《高研发助力长期成长，2024H1 新签 订单加速放量—公司信息更新报告》 -2024.8.24 《2024Q1 营收同比持续增长，高端刻 蚀设备快速放量—公司信息更新报 告》-2024.4.28 陈蓉芳（分析师） 陈瑜熙（ ...

电子/半导体 中微公司（688012.SH） 收入实现高增，高端化+平台化战略稳步推进 | 日期 | 2025/4/20 | | --- | --- | | 当前股价(元) | 190.00 | | 一年最高最低(元) | 256.99/115.50 | | 总市值(亿元) | 1,182.49 | | 流通市值(亿元) | 1,182.49 | | 总股本(亿股) | 6.22 | | 流通股本(亿股) | 6.22 | | 近 3 个月换手率(%) | 82.17 | 股价走势图 数据来源：聚源 -30% 0% 30% 60% 90% 2024-04 2024-08 2024-12 2025-04 中微公司 沪深300 相关研究报告 《Q3 业绩同环比高增，刻蚀龙头高端 产品加速放量—公司信息更新报告》 -2024.10.31 《高研发助力长期成长，2024H1 新签 订单加速放量—公司信息更新报告》 -2024.8.24 《2024Q1 营收同比持续增长，高端刻 蚀设备快速放量—公司信息更新报 告》-2024.4.28 陈蓉芳（分析师） 陈瑜熙（分析师） chenrongfang@kysec.cn 证书 ...

Investment Rating - The report maintains a "Recommendation" rating for the company [1][12] Core Views - The company achieved a revenue of 9.065 billion yuan in 2024, representing a year-on-year growth of 44.73%, while the net profit attributable to shareholders was 1.616 billion yuan, down 9.53% year-on-year [4][7] - The company continues to invest heavily in research and development, with R&D expenses increasing by approximately 73.59% year-on-year to 1.418 billion yuan in 2024 [7][8] - The company is expanding its production and R&D bases in multiple locations, including Nanchang and Shanghai, to meet future demand [7][8] Financial Performance Summary - Revenue and Profit Forecasts: - 2024: Revenue of 9.065 billion yuan, net profit of 1.616 billion yuan [4][9] - 2025: Expected revenue of 11.785 billion yuan, net profit of 2.363 billion yuan [6][9] - 2026: Expected revenue of 15.320 billion yuan, net profit of 3.084 billion yuan [6][9] - 2027: Expected revenue of 19.916 billion yuan, net profit of 4.059 billion yuan [6][9] - Profitability Ratios: - Gross margin for 2024 is 41.1%, and net margin is 17.8% [7][10] - Return on equity (ROE) is projected to improve from 8.2% in 2024 to 14.1% in 2027 [10] Product Development and Market Position - The company has a leading position in the MOCVD equipment market, with successful product launches for various applications, including blue light and deep ultraviolet LEDs [8] - The company has developed multiple new products in the etching equipment line, with significant sales growth expected [7][8] - The company is also advancing in the development of thin film deposition products, which have received positive validation from key clients [8]

Core Insights - The company reported a revenue of 9.065 billion yuan for the year 2024, representing a year-on-year increase of 44.73%, while the net profit attributable to shareholders decreased by 9.53% to 1.616 billion yuan [1] - The fourth quarter of 2024 saw a revenue of 3.558 billion yuan, a year-on-year increase of 60.11% and a quarter-on-quarter increase of 72.76% [3] - The company is making significant progress in new product development, particularly in etching and thin film deposition technologies [4] Financial Performance - For the full year 2024, the company achieved a revenue of 9.065 billion yuan, with a net profit of 1.616 billion yuan and a non-GAAP net profit of 1.388 billion yuan, which is a 16.51% increase year-on-year [1] - In Q4 2024, the company reported a net profit of 703 million yuan, which is a 12.24% increase year-on-year and a 77.32% increase quarter-on-quarter [3] - The gross margin for Q4 2024 was 39.26%, down 6.55 percentage points year-on-year, indicating a shift in product mix [3] Product Performance - The etching equipment segment generated revenue of 7.277 billion yuan for the full year 2024, a 54.72% increase year-on-year, while the MOCVD segment saw a revenue decline of 18.03% to 379 million yuan [1] - In Q4 2024, etching equipment revenue reached 2.863 billion yuan, up 56.19% year-on-year and 66.94% quarter-on-quarter [3] - The LPCVD segment showed significant growth in the second half of 2024, with revenue increasing from 28 million yuan in the first half to 128 million yuan [3] Customer Insights - The top three customers accounted for 22.15%, 21.23%, and 18.80% of the company's revenue, indicating a concentrated customer base [2] New Product Development - The company has made advancements in etching technology, with ultra-high aspect ratio CCP equipment being applied in advanced production lines [4] - New tungsten deposition equipment has passed key client validations, and the company is actively developing metal gate series products for logic clients [4] - The establishment of a new subsidiary focused on electron beam measurement equipment is aimed at expanding market participation [5] Future Outlook - Revenue projections for 2025-2027 are estimated at 11.943 billion yuan, 15.656 billion yuan, and 19.710 billion yuan, with net profits of 2.312 billion yuan, 3.241 billion yuan, and 4.102 billion yuan respectively [5]

中微半导体创始人、董事长尹志尧（图片来源：CNR） 4月19日消息，钛媒体硅基世界获悉，据中微公司（SHA: 688012）周五发布的年度报告显示，中微半导体创始人、董事长兼执行长尹志尧已放弃美籍，恢 复中国籍。 当时，中微公司表示，他们的离职"不会对公司的研发进度、运营能力或竞争力造成重大不利影响"。 据了解，创办中微公司之时，尹志尧一直都是以美国籍示人。据中微半导体2022年发布的年报显示，他仍是美国公民，而2023年年报中，中微没有披露尹志 尧的国籍。如今到2024年年报，尹志尧国籍进行了变更，放弃了美籍，恢复了中国国籍。 至于尹志尧放弃了美籍、恢复中国国籍的具体原因，中微公司没有在财报中披露更多细节，但业内普遍猜测，可能与此前美国商务部对华出口管制措施当中 的"美国人"条款有关。 2022年10月7日，美国商务部公布一系列对华半导体出口管制措施，其中包括"美国人士"在未取得许可的情况下，不得支持某些在中国境内从事半导体制 造"设施"开发或生产集成电路的实体提供支持。 2023年8月，中微公司发布公告称，因工作调整，公司三位美籍核心技术人员杜志游、麦仕义、李天笑将不再参与公司核心技术的研发，故不再认定其 ...