HUA HONG SEMICONDUCTOR LIMITED
華虹半導體有限公司
(Incorporated in Hong Kong with limited liability)
(於香港註冊成立之有限公司)
Stock Code 股份代號 : 1347
INTERIM REPORT
中 期 報 告
華彩 芯 未來
EMPOWERING
THE INFORMATION AGE
DEFINITIONS
In this interim report, unless the context otherwise requires, the following terms shall have the meanings set out below.
“Board” the board of Directors of the Company;
“China” or “the PRC” the People’s Republic of China, but for the purpose of this interim report and
for geographical reference only, except where the context otherwise requires,
references in this interim report to “China” and the “PRC” do not include Taiwan, the
Macau Special Administrative Region and Hong Kong;
“China IC Fund II” China Integrated Circuit Industry Investment Fund (Phase II) Co., Ltd.* (國家集成
電路產業投資基金二期股份有限公司), a company established in the PRC on 22
October 2019;
“Company” or “our Company” Hua Hong Semiconductor Limited, a company incorporated in Hong Kong with
limited liability on 21 January 2005 and, except where the context otherwise
requires, all of its subsidiaries, or its present subsidiaries where the context refers
to the time before it became the holding company of its present subsidiaries;
“Company Secretary” the company secretary of the Company;
“Director(s)” the director(s) of the Company;
“EPS” earnings per share;
“Executive Director(s)” the executive Director(s) of our Company;
“Group” our Company and our subsidiaries or, where the context so requires, the
businesses operated by our subsidiaries or their predecessors (as the case may
be) with respect to the period before our Company became the holding company of
our present subsidiaries (or became associated companies of our Company);
“HHGrace” Shanghai Huahong Grace Semiconductor Manufacturing Corporation* (上海華虹宏
力半導體製造有限公司), a company incorporated in the PRC on 24 January 2013
and a wholly-owned subsidiary of the Company;
“HK$” Hong Kong dollars, the lawful currency of Hong Kong;
“Hong Kong” the Hong Kong Special Administrative Region of the PRC;
“Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited;
“Independent Non-Executive the independent non-executive Director(s) of our Company;
Director(s)”
“JV Agreement” the joint venture agreement dated 18 January 2023 entered into among the
Company, HHGrace, China IC Fund II and the Wuxi Municipal Entity for the purpose
of setting up a joint venture to carry out the JV Business;
“JV Business” the manufacturing and sale of integrated circuits that the JV Company engages in,
including the production of 12-inch (300 mm) wafers adopting 65/55 nm to 40 nm
processes;
INTERIM REPORT 2023 1
DEFINITIONS
“JV Company” Hua Hong Semiconductor Manufacturing (Wuxi) Co., Ltd.* (華虹半導體製造(無錫)
有限公司), a company incorporated in the PRC on 17 June 2022 for the purpose of
the JV Business, the registered capital of which was held as to 100% by HHGrace
and, upon completion of the relevant filing(s) with the PRC authorities under the JV
Agreement and the JV Investment Agreement, became owned as to approximately
the Wuxi Municipal Entity;
“JV Investment Agreement” the investment agreement dated 18 January 2023 entered into among the JV
Shareholders and the JV Company, pursuant to which the JV Shareholders
conditionally agreed to increase the registered capital of the JV Company to
US$4.02 billion;
“JV Shareholders” the Company, HHGrace, China IC Fund II and the Wuxi Municipal Entity;
“Listing Rules” the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong
Limited, as amended or supplemented from time to time;
“Model Code” the Model Code for Securities Transactions by Directors of Listed Issuers as set out
in Appendix 10 to the Listing Rules;
“Non-Executive Director(s)” the non-executive Director(s) of our Company;
“QST” QST Corporation (上海矽睿科技有限公司), a company incorporated in the PRC on
“RMB” Renminbi, the lawful currency of the PRC;
“SFO” the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as
amended or supplemented from time to time;
“Shanghai Awinic” Shanghai Awinic Technology Co., Ltd. (上海艾為電子技術股份有限公司), a company
incorporated in the PRC on 18 June 2008 whose shares are listed on the STAR
Market of the Shanghai Stock Exchange (stock code: 688798);
“Shanghai Huali” Shanghai Huali Microelectronics Corporation (上海華力微電子有限公司), a company
incorporated in the PRC on 18 January 2010 and a connected person;
“Shanghai Stock Exchange” the Shanghai Stock Exchange;
“STAR Market” the Science and Technology Innovation Board of the Shanghai Stock Exchange;
“US$” US dollars, the lawful currency of USA;
“Wuxi Municipal Entity” Wuxi Xi Hong Guo Xin Investment Co., Ltd.* (無錫錫虹國芯投資有限公司), a
professional investment company jointly controlled by municipal and district-level
state-owned enterprises.
CORPORATE INFORMATION
Board of Directors Hong Kong Legal Advisor
Executive Directors Herbert Smith Freehills
Suxin Zhang (Chairman) 23/F, Gloucester Tower
Junjun Tang (President) 15 Queen’s Road Central
Hong Kong
Non-Executive Directors
Guodong Sun Principal Banks
Jing Wang
Jun Ye China Construction Bank Shanghai Branch
No. 900, Lujiazui Ring Road
Independent Non-Executive Directors Pudong New Area
Stephen Tso Tung Chang Shanghai, PRC
Kwai Huen Wong, JP
China Development Bank Shanghai Branch
Long Fei Ye
No. 68, Puming Road
Shanghai, PRC
Company Secretary
Sui Har Lee
China Construction Bank Corporation Hong Kong
Branch
Authorized Representatives 28/F, CCB Tower, 3 Connaught Road, Central
Junjun Tang Hong Kong
Sui Har Lee
Bank of Communications Co., Ltd. Hong Kong Branch
Audit Committee 20 Pedder Street, Central
Stephen Tso Tung Chang (Chairman) Hong Kong
Long Fei Ye
Jun Ye China Development Bank Jiangsu Branch
No. 232, Middle Jiangdong Road
Remuneration Committee Nanjing, Jiangsu, PRC
Kwai Huen Wong, JP (Chairman)
Long Fei Ye Agricultural Bank of China Wuxi Xinwu Subbranch
Jing Wang No. 26, Hefeng Road
Xinwu District
Nomination Committee Wuxi, Jiangsu, PRC
Suxin Zhang (Chairman)
Kwai Huen Wong, JP China Construction Bank Wuxi High and New Technology
Long Fei Ye Industrial Development Zone Subbranch
No. 26, Hefeng Road
Xinwu District
Website Wuxi, Jiangsu, PRC
www.huahonggrace.com China CITIC Bank Wuxi New District Subbranch
No. 26, Hefeng Road
Auditor Xinwu District
Wuxi, Jiangsu, PRC
Ernst & Young
Certified Public Accountants Bank of China Wuxi High and New Technology
Quarry Bay, Hong Kong Xinwu District
Wuxi, Jiangsu, PRC
INTERIM REPORT 2023 3
CORPORATE INFORMATION
Share Registrars
Hong Kong shares:
Tricor Investor Services Limited
Hong Kong
A shares:
China Securities Depository and Clearing Corporation
Limited, Shanghai Branch
No. 188 South Yanggao Road
Pudong New Area
Shanghai
Registered Office
Room 2212, Bank of America Tower
Hong Kong
Principal Places of Business
Zhangjiang Hi-Tech Park
Shanghai, PRC
Postcode: 201203
No. 30, Xinzhou Road
Xinwu District
Wuxi, Jiangsu, PRC
Postcode: 214028
Stock Codes
Hong Kong Stock Exchange: 01347
Shanghai Stock Exchange: 688347
KEY FINANCIALS
Revenue Gross profit margin
US$ million %
Profit attributable to owners of the parent EPS
US$ million US$
INTERIM REPORT 2023 5
MANAGEMENT DISCUSSION AND ANALYSIS
Financial Performance
US$’ 000 US$’000
Unaudited Unaudited
Revenue 1,262,223 1,215,471 3.8%
Cost of sales (884,970) (846,578) 4.5%
Gross profit 377,253 368,893 2.3%
Other income and gains 50,679 20,006 153.3%
Fair value loss on an investment property – (316) (100.0)%
Selling and distribution expenses (5,090) (7,026) (27.6)%
Administrative expenses (147,839) (138,914) 6.4%
Other expenses (46,126) (53,205) (13.3)%
Finance costs (56,700) (14,980) 278.5%
Share of profits of associates 3,504 2,299 52.4%
Profit before tax 175,681 176,757 (0.6)%
Income tax expense (26,945) (21,407) 25.9%
Profit for the period 148,736 155,350 (4.3)%
Attributable to:
Owners of the parent 230,758 186,877 23.5%
Non-controlling interests (82,022) (31,527) 160.2%
Revenue
Revenue reached an all-time high of US$1,262.2 million, an increase of 3.8% compared to 1H 2022, primarily
benefiting from improved average selling price.
Cost of sales
Cost of sales was US$885.0 million, an increase of 4.5% compared to 1H 2022, primarily due to increased depreciation
and utility costs.
Gross profit
Gross profit was US$377.3 million, an increase of 2.3% compared to 1H 2022, primarily driven by improved average
selling price, partially offset by increased depreciation and utility costs.
Other income and gains
Other income and gains were US$50.7 million, an increase of 153.3% compared to 1H 2022, primarily due to
increased interest income and government subsidies.
MANAGEMENT DISCUSSION AND ANALYSIS
Selling and distribution expenses
Selling and distribution expenses were US$5.1 million, a decrease of 27.6% compared to 1H 2022, primarily due to
decreased labor expenses.
Administrative expenses
Administrative expenses were US$147.8 million, an increase of 6.4% compared to 1H 2022, primarily due to increased
engineering wafer costs and decreased government grants for research and development.
Other expenses
Other expenses were US$46.1 million, a decrease of 13.3% compared to 1H 2022, primarily due to decreased foreign
exchange losses.
Finance costs
Finance costs were US$56.7 million, an increase of 278.5% compared to 1H 2022, primarily due to increased interest
rate of bank borrowings.
Share of profits of associates
Share of profits of associates was US$3.5 million, an increase of 52.4% compared to 1H 2022, due to increased profit
realized by the associates.
Income tax expense
Income tax expense was US$26.9 million, an increase of 25.9% compared to 1H 2022, primarily due to increased
taxable profit.
Profit for the period
As a result of the cumulative effect of the above factors, profit for the period was US$148.7 million, a decrease of 4.3%
compared to 1H 2022. Net profit margin was 11.8%, a decrease of 1.0 percentage points compared to 1H 2022.
INTERIM REPORT 2023 7
MANAGEMENT DISCUSSION AND ANALYSIS
Financial Status
US$’ 000 US$’000
Unaudited Audited
Non-current assets
Property, plant and equipment 3,256,562 3,367,716 (3.3)%
Investment property 163,241 169,363 (3.6)%
Right-of-use assets 80,145 78,425 2.2%
Investment in associates 129,414 130,721 (1.0)%
Equity instruments designated at fair value
through other comprehensive income 151,812 178,632 (15.0)%
Other non-current assets 89,500 54,794 63.3%
Total non-current assets 3,870,674 3,979,651 (2.7)%
Current assets
Inventories 558,252 578,060 (3.4)%
Trade and notes receivables 310,705 291,856 6.5%
Due from related parties 16,803 13,006 29.2%
Other current assets 175,868 182,996 (3.9)%
Pledged deposits 167,077 1,042 15,934.3%
Cash and cash equivalents 1,850,957 2,008,765 (7.9)%
Total current assets 3,079,662 3,075,725 0.1%
Current liabilities
Trade payables 227,907 236,999 (3.8)%
Interest-bearing bank borrowings 385,746 426,756 (9.6)%
Due to related parties 4,720 6,096 (22.6)%
Government grants 34,133 37,714 (9.5)%
Other current liabilities 451,860 674,851 (33.0)%
Total current liabilities 1,104,366 1,382,416 (20.1)%
Net current assets 1,975,296 1,693,309 16.7%
Non-current liabilities
Interest-bearing bank borrowings 1,410,544 1,481,580 (4.8)%
Lease liabilities 18,312 14,644 25.0%
Deferred tax liabilities 21,938 41,268 (46.8)%
Total non-current liabilities 1,450,794 1,537,492 (5.6)%
Net assets 4,395,176 4,135,468 6.3%
MANAGEMENT DISCUSSION AND ANALYSIS
Explanation of items with fluctuation over 10% from 31 December 2022 to 30 June 2023
Equity instruments designated at fair value through other comprehensive income
Equity instruments designated at fair value through other comprehensive income decreased from US$178.6 million to
US$151.8 million, primarily due to changes in fair value and exchange realignment.
Other non-current assets
Other non-current assets increased from US$54.8 million to US$89.5 million, primarily due to increased prepayments
for capital expenditure.
Due from related parties
Due from related parties increased from US$13.0 million to US$16.8 million, primarily due to increased receivables
from certain of our related parties.
Pledged deposits
Pledged deposits increased from US$1.0 million to US$167.1 million, primarily due to increased pledged deposits for
bank borrowings.
Due to related parties
Due to related parties decreased from US$6.1 million to US$4.7 million, primarily due to decreased payables to one of
our related parties.
Other current liabilities
Other current liabilities decreased from US$674.9 million to US$451.9 million, primarily due to decreased payables for
capital expenditures, prepayments from customers, and a payment of income tax for 2022.
Lease liabilities
Lease liabilities increased from US$14.6 million to US$18.3 million, primarily due to new lease contracts, partially offset
by payments of lease liabilities in the period.
Deferred tax liabilities
Deferred tax liabilities decreased from US$41.3 million to US$21.9 million, primarily due to a reversal of dividend
withholding tax accrued for 2022.
INTERIM REPORT 2023 9
MANAGEMENT DISCUSSION AND ANALYSIS
Cash Flow
US$’ 000 US$’000
Unaudited Unaudited
Net cash flows generated from operating activities 293,058 407,848 (28.1)%
Net cash flows used in investing activities (353,930) (227,059) 55.9 %
Net cash flows used in financing activities (36,934) (27,648) 33.6 %
Net (decrease)/increase in cash and cash equivalents (97,806) 153,141 (163.9)%
Cash and cash equivalents at beginning of the period 2,008,765 1,610,140 24.8 %
Effect of foreign exchange rate changes, net (60,002) (55,631) 7.9 %
Cash and cash equivalents at end of the period 1,850,957 1,707,650 8.4 %
Net cash flows generated from operating activities
Net cash flows generated from operating activities decreased from US$407.8 million to US$293.1 million, primarily due
to increased payments for materials and maintenance.
Net cash flows used in investing activities
Net cash flows used in investing activities were US$353.9 million, primarily including US$381.6 million for capital
investments, partially offset by US$27.7 million of interest income.
Net cash flows used in financing activities
Net cash flows used in financing activities were US$36.9 million, including US$167.7 million of pledged deposits,
US$128.1 million of bank principal repayments, US$57.5 million of interest payments, US$3.1 million of lease payments,
and US$0.6 million of listing fees, partially offset by US$296.2 million of capital contribution from non-controlling
interests, US$21.1 million of proceeds from bank borrowings, and US$2.8 million proceeds from share option exercise.
Financial Resources
The Group adopts a prudent approach to cash and financial management to ensure proper risk control and low cost
of funds. The Group finances its operations primarily with internally generated cash flow and bank loans. As at 30
June 2023, the Group had cash and bank balances of approximately US$1,851.0 million (of which approximately
US$1,245.7 million were denominated in RMB and approximately US$573.8 million in US dollars), representing a
decrease of US$157.8 million as compared to US$2,008.8 million at the end of 2022.
Liquidity
To meet liquidity requirements in the short and long term, our policy is to monitor regularly the current and expected
liquidity requirements to ensure that we maintain sufficient reserves of cash and adequate committed lines of funding
from major financial institutions.
Capital Management
Our primary objectives of capital management are to safeguard our ability to continue as a going concern and to
maintain healthy capital ratios to support our business and maximize shareholders’ value. We manage our capital
structure and make adjustments in light of the changes in economic conditions. To do this, we may adjust the dividend
payment to shareholders, return capital to shareholders, or issue new shares. We are not subject to any externally
imposed capital requirements. No changes were made in the objectives, policies, or processes for managing capital
during the six months ended 30 June 2023.
MANAGEMENT DISCUSSION AND ANALYSIS
Bank Loans
The particulars of bank loans of the Group as at 30 June 2023 are set out as below:
US$’ 000 US$’000
Unaudited Audited
Current
Bank loans – unsecured 240,966 314,039
Current portion of long term bank loans – secured 144,780 112,717
Non-current
Secured bank loans 1,380,544 1,451,580
Unsecured bank loans 30,000 30,000
The Group is dedicated to improving financing method. As at 30 June 2023, the Group had outstanding bank
borrowings of US$1,796.3 million, compared to US$1,908.3 million as at the end of 2022. The bank borrowings
included secured interest-bearing borrowings of US$1,525.3 million and unsecured interest-bearing borrowings of
US$271.0 million. Bank borrowings of US$36.2 million had fixed interest rates ranging from 1.2% to 2.0% per annum.
Except for bank loans of US$142.9 million which are denominated in RMB, all borrowings are denominated in US
dollars.
Charges on Group Assets
As at 30 June 2023, certain of Group’s property, plant and equipment with a net carrying value of US$1,460,173,000
(31 December 2022: US$1,803,095,000), right-of-use assets of US$12,719,000 (31 December 2022: US$50,231,000),
properties under development of US$84,850,000 (31 December 2022: US$88,033,000) and pledged deposits of
US$167,077,000 (31 December 2022: Nil) were pledged to banks to secure the Group’s banking facilities.
Pledged deposits with a carrying value of US$300,000 as at 30 June 2023 (31 December 2022: US$311,000) were
pledged to secure the issuance of letters of credit.
Other pledged deposits with a carrying value of US$27,000 as at 30 June 2023 (31 December 2022: US$27,000) were
pledged to secure the payment of dividends to shareholders.
INTERIM REPORT 2023 11
MANAGEMENT DISCUSSION AND ANALYSIS
Exposure to Fluctuations in Exchange Rates
We have transactional currency exposures, arising primarily from sales or purchases by our significant subsidiaries
operating in Mainland China in US$ rather than the subsidiary’s functional currency, which is RMB. During the six
months ended 30 June 2023, approximately 23% of our sales were denominated in currencies other than the functional
currency of the subsidiary making the sale, whilst 62% of costs of sales were denominated in the subsidiary’s
functional currency.
In addition, we have currency exposures from interest-bearing bank borrowings, held by our subsidiary operating in
Mainland China. As at 30 June 2023, interest-bearing bank borrowings with a carrying amount of US$1,653 million
were denominated in US$, instead of the subsidiary’s functional currency, which is RMB.
As at 30 June 2023, if the US dollar had strengthened or weakened against the RMB by 5%, with all other variables
held constant, our profit before tax for the period would have been approximately US$57 million lower or higher.
For the six months ended 30 June 2023, the Group had not entered into any arrangement to hedge the aforementioned
foreign currency risks. Nevertheless, the Company’s management will continue to monitor the foreign exchange
exposure position and will consider appropriate measures should the need arise.
Contingent Liabilities
As at 30 June 2023, the Group did not have any contingent liabilities.
MANAGEMENT DISCUSSION AND ANALYSIS
Business Review
In the first half of 2023, the global and regional economy recovered slowly, the consumer market remained sluggish,
and the foundry industry faced greater challenges. Nevertheless, HHGrace has maintained stable results. The solid
revenue performance can be attributable to the Company’s optimized product portfolio, the long-term support from our
customers, and the unremitting efforts of all employees. In the first half of 2023, the Company’s capacity utilization rate
remained high, and its sales of eNVM/Standalone NVM process platforms and Discrete process platforms constantly
maintained double-digit growth year-on-year.
Embedded/Standalone Non-Volatile Memory (eNVM/Standalone NVM) process platforms continued to maintain rapid
growth in both R&D and sales. In terms of R&D, the 90nm embedded flash automotive-grade process and IP reliability
verification, which are based on our NORD technology with independent intellectual property rights, have been
completed, which can support the design and mass production of AEC-Q100 Grade1 MCU products and will continue
to enrich the Company’s layout of automotive MCU solutions; the development of 65nm standalone NVM process
platform product has remained smooth. In terms of sales, the revenue and shipment of the platform achieved double-
digit growth year-on-year in the first half of 2023.
As the Company’s power discrete devices are increasingly applied to high-quality development markets, revenue of
the process platform increased over 30% year-on-year in the first half of 2023 due to the Company’s rich variety of
power discrete device processes, superior technology, and quality assurance, making it an important engine for the
Company’s stable results. Growth was continuously driven by the expanding electric vehicle and industrial applications
markets worldwide, particularly in Mainland China. Due to constantly innovative technology R&D and a stable supply
guarantee, Hua Hong’s services have won recognition from global customers.
Hua Hong Wuxi Phase I 12-inch fab (HH Fab7) operated smoothly, with a high capacity utilization rate in the first half
of 2023. Construction for a total monthly capacity of 94,500 wafers is expected to be completed by the end of the
year. On 18 January 2023, the Company, HHGrace, China IC Fund II and the Wuxi Municipal Entity entered into the
JV Agreement, pursuant to which the parties conditionally agreed to establish a joint venture (i.e. the Wuxi Phase II
project (HH Fab9)) through the JV Company and invest US$880.38 million, US$1,169.82 million, US$1,165.8 million
and US$804 million in cash, respectively, in the JV Company. Pursuant to the JV Agreement, the JV Company shall
engage in the manufacturing and sale of integrated circuits and 12-inch (300mm) wafers adopting 65/55 nm to 40 nm
processes. On the same day, the JV Shareholders and the JV Company entered into the JV Investment Agreement
to convert the JV Company into a joint venture and increase the registered capital of the JV Company from RMB6.68
million to US$4.02 billion. Details of the JV Agreement and the JV Investment Agreement are set out in the circular of
the Company dated 24 February 2023. A groundbreaking ceremony for the Wuxi Phase II project (HH Fab9) was held
on 30 June 2023. The project has a planned monthly production capacity of 83,000 wafers, with a focus on advanced
specialty ICs and high-end power discrete devices for automotive-grade process manufacturing platforms.
In the second half of 2023, the Company will continue to expand production capacity, accelerate process
development, and cover a wider range of product categories. Despite the slow recovery of the end-user market, the
Company will continue to unswervingly promote its diversified development strategy, deploy more advanced “Specialty
IC + Power Discrete” technologies in our “8-inch +12-inch” production platforms, and provide global customers with
more comprehensive and excellent technologies and services in the specialty wafer foundry field.
INTERIM REPORT 2023 13
MANAGEMENT DISCUSSION AND ANALYSIS
Issue of RMB Shares after the Interim Period
On 27 June 2022, an ordinary resolution was proposed and approved at the extraordinary general meeting of the
Company in relation to the Company’s proposed issue of no more than 433,730,000 ordinary shares, to be subscribed
for in RMB by target subscribers in the PRC and to be listed on the STAR Market and traded in RMB (the “RMB Share
Issue”), under a specific mandate granted by the shareholders at that meeting. The validity period of the resolution
was extended with the approval of the shareholders of the Company on 26 June 2023.
The Board considers that the RMB Share Issue will enable the Company to access the PRC capital market by way
of equity financing and thus broaden the Company’s fund-raising channels and shareholder base and improve the
Company’s capital structure. Also, the Board considers that the RMB Share Issue will be able to further strengthen the
financial position of the Group and serve general corporate purposes and working capital needs of the Group, as well
as to further enhance the Company’s corporate profile, visibility and market presence in the PRC market. Further, it
is expected that the RMB Share Issue will enable the Company to enhance its production capacity and research and
development capability which will then allow the Company to capture future growth opportunities and consolidate its
position as a leading pure-play foundry in the PRC.
By way of the RMB Share Issue, 407,750,000 ordinary shares of the Company (the “RMB Shares”) were issued and
subscribed for, with gross proceeds of RMB21,203 million (equivalent to US$2,974 million). After deducting issuance
costs (including underwriting fees and other issuance costs), the net proceeds were RMB20,921 million (equivalent
to US$2,934 million), which resulted in an increase of RMB20,921 million (equivalent to US$2,934 million) in the share
capital of ordinary shares. The offer price of each RMB Share was RMB52.00.
The RMB Shares of the Company were listed and became available for trading on the STAR Market of the Shanghai
Stock Exchange, with the stock code 688347, on 7 August 2023.
For further details about the RMB Share Issue, please refer to the Company’s announcements dated 21 March 2022,
June 2023.
MANAGEMENT DISCUSSION AND ANALYSIS
Future Plans for Material Investments and Capital Assets
As disclosed in the Company’s circulars dated 7 June 2022 and 5 June 2023, the Company intends to apply
the proceeds from the RMB Share Issue to, among others, the “Hua Hong Manufacturing (Wuxi) Project”, the “8-
Inch Factory Optimisation and Upgrading Project” and the “Specialty Technological Innovation and Research and
Development Project”.
The “Hua Hong Manufacturing (Wuxi) Project” aims at engaging in the design, research, manufacturing, testing,
packaging and sale of integrated circuits fabricated on 12-inch (300mm) wafers. The Company expects to establish
production facilities and make required purchases of various types of equipment, such as inspection equipment,
furnaces and implanters. The chips are expected to be used in technical products such as high-density smart card
integrated circuits, microcontrollers, smart power management systems and system-on-chips. Production is expected
to commence in early 2025, with the monthly production capacity targeted to be 40,000 wafers by the second quarter
of 2026.
The “8-Inch Factory Optimisation and Upgrading Project” aims at upgrading a part of logic technology platform
production lines and power device technology platform production lines, with a view to matching the technological
requirements of the relevant specialty platforms and enhancing the flexible manufacturing capability of the power
device technology platform.
The “Specialty Technological Innovation and Research and development Project” aims at enhancing the Company’s
proprietary innovation and research and development capabilities.
For further details, please refer to the Company’s circulars dated 7 June 2022 and 5 June 2023.
Save as disclosed above and in this interim report, the Group did not have other concrete plans for material
investments or capital assets as of 30 June 2023.
INTERIM REPORT 2023 15
釋義
於本中期報告內,除非文義另有所指,否則下列詞彙具有下文所載涵義。
「董事會」 本公司董事會;
「中國」 中華人民共和國,但僅就本中報及作地理參考而言,除文義另有所指,否則,本中報對「中
國」的提述不包括台灣、澳門特別行政區及香港;
「國家集成電路產業基金II」 國家集成電路產業投資基金二期股份有限公司,一家於二零一九年十月二十二日在中國成立
的公司;
「本公司」 華虹半導體有限公司,一家於二零零五年一月二十一日在香港註冊成立的有限公司,除非文
義另有所指,否則包括其所有子公司,或如文義指其成為其現有子公司的控股公司之前期
間,則指其現有子公司;
「公司秘書」 本公司公司秘書;
「董事」 本公司董事;
「EPS」 每股盈利;
「執行董事」 本公司執行董事;
「本集團」 本公司及我們的子公司,或如文義所指為本公司成為我們現有子公司的控股公司之前期間(或
成為本公司的該等聯營公司),則指由該等子公司或其前身公司(視乎情況而定)所經營的業
務;
「華虹宏力」 上海華虹宏力半導體製造有限公司,一家於二零一三年一月二十四日在中國註冊成立的公
司,為本公司的全資子公司;
「港元」 香港法定貨幣港元;
「香港」 中國香港特別行政區;
「香港聯交所」 香港聯合交易所有限公司;
「獨立非執行董事」 本公司獨立非執行董事;
「合營協議」 本公司、華虹宏力、國家集成電路產業基金II及無錫市實體訂立的日期為二零二三年一月十八
日的合營協議,旨在設立合營企業以開展合營業務;
「合營業務」 合營公司從事的集成電路的製造及銷售(包括採用65/55 nm至40 nm工藝生產12英寸(300
mm)晶圓);
釋義
「合營公司」 華虹半導體製造(無錫)有限公司,一家於二零二二年六月十七日在中國註冊成立的公司,用
於合營業務,其註冊資本由華虹宏力持有100%,根據合營協議及合營投資協議,向中國政
府完成相關備案後由本公司、華虹宏力、國家集成電路產業基金II及無錫市實體分別擁有約
「合營投資協議」 由合營股東及合營公司訂立的日期為二零二三年一月十八日的投資協議,據此,合營股東有
條件同意將合營公司的註冊資本增至40.2億美元;
「合營股東」 本公司、華虹宏力、國家集成電路產業基金II及無錫市實體;
「上市規則」 《香港聯合交易所有限公司證券上市規則》
(經不時修訂或補充);
「標準守則」 上市規則附錄十所載的《上市發行人董事進行證券交易的標準守則》;
「非執行董事」 本公司非執行董事;
「矽睿科技」 上海矽睿科技有限公司,一家於二零一二年九月十三日在中國註冊成立的公司,於二零二零
年九月一日之前為本公司的關連人士;
「人民幣」 中國法定貨幣人民幣;
「證券及期貨條例」 香港法例第571章《證券及期貨條例》
(經不時修訂或補充);
「上海艾為」 上海艾為電子技術股份有限公司,一家於二零零八年六月十八日在中國註冊成立的公司,其
股份在上交所科創板上市(股份代號:688798);
「上海華力」 上海華力微電子有限公司,一家於二零一零年一月十八日在中國註冊成立的公司,為關連人
士;
「上交所」 上海證券交易所;
「科創板」 上交所科創板;
「美元」 美國法定貨幣美元;
「無錫市實體」 無錫錫虹國芯投資有限公司,一家由市屬及區級國企聯合控制的專業投資公司。
公司資料
董事會 香港法律顧問
執行董事 史密夫斐爾律師事務所
張素心(主席) 香港
唐均君(總裁) 皇后大道中15號
告羅士打大廈23樓
非執行董事
孫國棟 主要往來銀行
王靖
葉峻 中國建設銀行上海市分行
中國上海市
獨立非執行董事 浦東新區
張祖同 陸家嘴環路900號
王桂壎,太平紳士
葉龍蜚 國家開發銀行上海分行
中國上海市
公司秘書 浦明路68號
李瑞霞
中國建設銀行股份有限公司香港分行
授權代表 香港中環
唐均君 干諾道中3號中國建設銀行大廈28樓
李瑞霞
交通銀行股份有限公司香港分行
審核委員會 香港中環
張祖同(主席) 畢打街20號
葉龍蜚
葉峻 國家開發銀行江蘇分行
中國江蘇省南京市
薪酬委員會 江東中路232號
王桂壎,太平紳士(主席)
葉龍蜚 中國農業銀行無錫新吳支行
王靖 中國江蘇省無錫市
新吳區和風路26號
提名委員會
張素心(主席) 中國建設銀行無錫高新技術產業開發區支行
王桂壎,太平紳士 中國江蘇省無錫市
葉龍蜚 新吳區和風路26號
網址 中信銀行無錫新區支行
中國江蘇省無錫市
www.huahonggrace.com 新吳區和風路26號
核數師 中國銀行無錫高新技術產業開發區支行
中國江蘇省無錫市
安永會計師事務所 新吳區旺莊路140號
執業會計師
香港
鰂魚涌英皇道979號
太古坊一座27樓
公司資料
股份過戶登記處
港股:
卓佳證券登記有限公司
香港
夏愨道16號
遠東金融中心17樓
A股:
中國證券登記結算有限責任公司上海分公司
上海市
浦東新區
楊高南路188號
註冊辦事處
香港中環
夏愨道12號
美國銀行中心2212室
主要營業地點
中國上海市
張江高科技園區
哈雷路288號
郵編:201203
中國江蘇省無錫市
新吳區
新洲路30號
郵編:214028
股份代號
香港聯交所:01347
上交所:688347
主要財務指標
銷售收入 毛利率
百萬美元 %
二零二一年 二零二二年 二零二三年 二零二一年 二零二二年 二零二三年
上半年 上半年 上半年 上半年 上半年 上半年
母公司擁有人應佔溢利 每股盈利
百萬美元 美元
二零二一年 二零二二年 二零二三年 二零二一年 二零二二年 二零二三年
上半年 上半年 上半年 上半年 上半年 上半年
管理層討論及分析
財務表現
二零二三年 二零二二年
上半年 上半年 變動
千美元 千美元
未經審核 未經審核
銷售收入 1,262,223 1,215,471 3.8%
銷售成本 (884,970) (846,578) 4.5%
毛利 377,253 368,893 2.3%
其他收入及收益 50,679 20,006 153.3%
投資物業的公平值虧損 – (316) (100.0)%
銷售及分銷費用 (5,090) (7,026) (27.6)%
管理費用 (147,839) (138,914) 6.4%
其他費用 (46,126) (53,205) (13.3)%
財務費用 (56,700) (14,980) 278.5%
分佔聯營公司溢利 3,504 2,299 52.4%
稅前溢利 175,681 176,757 (0.6)%
所得稅開支 (26,945) (21,407) 25.9%
期內溢利 148,736 155,350 (4.3)%
以下各項應佔:
母公司擁有人 230,758 186,877 23.5%
非控股權益 (82,022) (31,527) 160.2%
銷售收入
銷售收入創歷史新高,達12.622億美元,較二零二二年上半年增長3.8%,主要受益於平均銷售價格上漲。
銷售成本
銷售成本為8.850億美元,較二零二二年上半年上升4.5%,主要由於折舊及水電費用增加所致。
毛利
毛利為3.773億美元,較二零二二年上半年增長2.3%,主要受惠於平均銷售價格上漲,部分被折舊及水電費用增加所抵銷。
其他收入及收益
其他收入及收益為5,070萬美元,較二零二二年上半年增加153.3%,主要由於利息收入和政府補助增加所致。
管理層討論及分析
銷售及分銷費用
銷售及分銷費用為510萬美元,較二零二二年上半年下降27.6%,主要由於人工費用減少所致。
管理費用
管理費用為1.478億美元,較二零二二年上半年上升6.4%,主要由於工程晶圓費用增加及研發相關的政府補助減少所致。
其他費用
其他費用為4,610萬美元,較二零二二年上半年減少13.3%,主要由於外匯匯兌虧損減少所致。
財務費用
財務費用為5,670萬美元,較二零二二年上半年上升278.5%,主要由於銀行借款利率增加所致。
分佔聯營公司溢利
分佔聯營公司溢利為350萬美元,較二零二二年上半年上升52.4%,由於聯營公司實現的溢利增加所致。
所得稅開支
所得稅開支為2,690萬美元,較二零二二年上半年上升25.9%,主要由於應課稅溢利增加所致。
期內溢利
綜合考慮上述因素,期內溢利為1.487億美元,較二零二二年上半年減少4.3%。淨利潤率為11.8%,較二零二二年上半年
減少1.0個百分點。
管理層討論及分析
財務狀況
二零二三年 二零二二年
六月三十日 十二月三十一日 變動
千美元 千美元
未經審核 經審核
非流動資產
物業、廠房及設備 3,256,562 3,367,716 (3.3)%
投資物業 163,241 169,363 (3.6)%
使用權資產 80,145 78,425 2.2 %
於聯營公司的投資 129,414 130,721 (1.0)%
指定按公平值計入其他全面收益的權益工具 151,812 178,632 (15.0)%
其他非流動資產 89,500 54,794 63.3 %
非流動資產總額 3,870,674 3,979,651 (2.7)%
流動資產
存貨 558,252 578,060 (3.4)%
貿易應收款項及應收票據 310,705 291,856 6.5 %
應收關聯方款項 16,803 13,006 29.2 %
其他流動資產 175,868 182,996 (3.9)%
已抵押存款 167,077 1,042 15,934.3 %
現金及現金等價物 1,850,957 2,008,765 (7.9)%
流動資產總額 3,079,662 3,075,725 0.1 %
流動負債
貿易應付款項 227,907 236,999 (3.8)%
計息銀行借款 385,746 426,756 (9.6)%
應付關聯方款項 4,720 6,096 (22.6)%
政府補助 34,133 37,714 (9.5)%
其他流動負債 451,860 674,851 (33.0)%
流動負債總額 1,104,366 1,382,416 (20.1)%
流動資產淨額 1,975,296 1,693,309 16.7 %
非流動負債
計息銀行借款 1,410,544 1,481,580 (4.8)%
租賃負債 18,312 14,644 25.0 %
遞延稅項負債 21,938 41,268 (46.8)%
非流動負債總額 1,450,794 1,537,492 (5.6)%
資產淨額 4,395,176 4,135,468 6.3%
管理層討論及分析
就二零二二年十二月三十一日至二零二三年六月三十日同比變動超過10%的項目的闡釋
指定按公平值計入其他全面收益的權益工具
指定按公平值計入其他全面收益的權益工具由1.786億美元減少至1.518億美元,主要由於公平值變動及匯兌調整所致。
其他非流動資產
其他非流動資產由5,480萬美元增加至8,950萬美元,主要由於資本支出預付款項增加所致。
應收關聯方款項
應收關聯方款項由1,300萬美元增加至1,680萬美元,主要由於部分關聯方的應收款項增加所致。
已抵押存款
已抵押存款由100萬美元增加至1.671億美元,主要由於用於銀行借款的質押存款增加所致。
應付關聯方款項
應付關聯方款項由610萬美元減至470萬美元,主要由於應付一名關聯方款項減少所致。
其他流動負債
其他流動負債由6.749億美元減至4.519億美元,主要由於資本開支應付款和客戶預付款減少、及本期支付二零二二年度應
付所得稅所致。
租賃負債
租賃負債由1,460萬美元增加至1,830萬美元,主要由於新租賃合約,部分被期內支付租賃負債所抵銷。
遞延稅項負債
遞延稅項負債由4,130萬美元減少至2,190萬美元,主要由於轉回二零二二年計提的代扣代繳的股息稅金所致。
管理層討論及分析
現金流量
二零二三年 二零二二年
上半年 上半年 變動
千美元 千美元
未經審核 未經審核
經營活動所得現金流量淨額 293,058 407,848 (28.1)%
投資活動所用現金流量淨額 (353,930) (227,059) 55.9 %
融資活動所用現金流量淨額 (36,934) (27,648) 33.6 %
現金及現金等價物(減少)╱ 增加淨額 (97,806) 153,141 (163.9)%
期初現金及現金等價物 2,008,765 1,610,140 24.8 %
外匯匯率變動影響,淨額 (60,002) (55,631) 7.9 %
期末現金及現金等價物 1,850,957 1,707,650 8.4 %
經營活動所得現金流量淨額
經營活動所得現金流量淨額由4.078億美元減至2.931億美元,主要由於材料及維護保養付款增加所致。
投資活動所用現金流量淨額
投資活動所用現金流量淨額為3.539億美元,主要包括資本投資3.816億美元,部分被利息收入2,770萬美元所抵銷。
融資活動所用現金流量淨額
融資活動所用現金流量淨額為3,690萬美元,包括已抵押存款1.677億美元、償還銀行貸款本金1.281億美元、利息支出
萬美元及股票期權行使所得款項280萬美元所抵銷。
財務資源
本集團對現金及財務管理採取審慎的原則,以確保妥善管理風險及降低資金成本。本集團主要以內部產生現金流量及銀行
貸款為其營運提供資金。於二零二三年六月三十日,本集團的現金及銀行結餘約為18.510億美元(其中約12.457億美元以
人民幣計值,約5.738億美元以美元計值),較二零二二年底的20.088億美元減少1.578億美元。
流動資金
為滿足短期及長期流動資金需要,我們的政策為定期監控現時及預期流動資金需要,以確保維持充裕的現金儲備及從主要
金融機構獲得足夠的融資承擔額度。
資本管理
我們資本管理的首要目標為維護持續經營能力及維持良好的資本比率,以支持我們的業務及實現股東價值最大化。我們根
據經濟狀況的變動管理及調整資本架構。為此,我們或會調整派付予股東的股息、向股東返還資本或發行新股。我們不受
任何外部施加的資本要求規限。截至二零二三年六月三十日止六個月,管理資本的目標、政策或程序概無任何變動。
管理層討論及分析
銀行貸款
本集團於二零二三年六月三十日的銀行貸款詳情載列如下:
二零二三年 二零二二年
六月三十日 十二月三十一日
千美元 千美元
未經審核 經審核
流動
銀行貸款 - 無抵押 240,966 314,039
長期銀行貸款的即期部分 - 有抵押 144,780 112,717
非流動
有抵押銀行貸款 1,380,544 1,451,580
無抵押銀行貸款 30,000 30,000
本集團致力於改善融資方式。於二零二三年六月三十日,本集團未償還銀行借款為17.963億美元,而於二零二二年底為
年利率在1.2%至2.0%之間。除1.429億美元的銀行貸款以人民幣計值外,所有借款以美元計值。
抵押集團資產
於二零二三年六月三十日,本集團賬面淨值為1,460,173,000美元(二零二二年十二月三十一日:1,803,095,000美元)的若
干物業、廠房及設備、12,719,000美元(二零二二年十二月三十一日:50,231,000美元)的使用權資產、84,850,000美元
(二零二二年十二月三十一日:88,033,000美元)的發展中物業以及167,077,000美元(二零二二年十二月三十一日:無)的
已抵押存款已抵押予銀行以取得本集團的銀行信貸融資。
於二零二三年六月三十日,已抵押賬面值為300,000美元(二零二二年十二月三十一日:311,000美元)的已抵押存款以獲
發行信用證。
於二零二三年六月三十日,已抵押賬面值為27,000美元(二零二二年十二月三十一日:27,000美元)的其他已抵押存款,以
向股東支付股息。
管理層討論及分析
匯率波動風險
我們面臨交易外匯風險,主要產生自我們在中國內地經營的重要子公司以美元進行的買賣,而並非以其功能貨幣人民幣進
行。截至二零二三年六月三十日止六個月,我們的銷售額中約23%乃以進行銷售的子公司的功能貨幣以外的貨幣計值,而
銷售成本中62%乃以子公司的功能貨幣計值。
此外,我們面臨來自計息銀行借款的外幣風險,該借款由我們在中國內地經營的子公司持有。於二零二三年六月三十日,
賬面值為16.53億美元的計息銀行借款以美元計值,而非以子公司的功能貨幣人民幣計值。
於二零二三年六月三十日,倘美元對人民幣升值或貶值5%,而所有其他變量維持不變,則我們的期內稅前溢利將減少或增
加約5,700萬美元。
截至二零二三年六月三十日止六個月,本集團並無訂立任何對沖上述外匯風險的安排。然而,本公司管理層將繼續監控外
匯風險狀況並在必要時考慮適當措施。
或然負債
於二零二三年六月三十日,本集團概無任何或然負債。
管理層討論及分析
業務回顧
二零二三年上半年,全球及地區經濟恢復緩慢,消費類市場持續低迷,上游晶圓代工產業遭遇較大挑戰。儘管如此,華虹
宏力依然保持了業績穩定。穩健的營收表現得益於公司優化的產品組合,客戶的長期支持,以及全體員工的不懈努力與耕
耘。上半年公司產能利用率仍保持較高水平,嵌入式 ╱ 獨立式非易失性存儲器工藝平台、分立器件工藝平台銷售額繼續保
持同比雙位數增長。
嵌入式 ╱ 獨立式非易失性存儲器(eNVM/Standalone NVM)工藝平台繼續保持研發與銷售規模的快速發展。研發方面,基於
自主知識產權NORD技術的90nm嵌入式閃存車規級工藝及IP可靠性驗證完成,可以支持AEC-Q100 Grade1 MCU產品設計
及量產,將持續豐富公司在汽車MCU解決方案的佈局;65nm獨立式非易失性存儲器工藝平台產品研發順利。銷售方面,
上半年平台銷售額、銷售量同比雙位數增長。
隨着公司功率分立器件(Discrete)產品更多進入到高質量發展市場應用領域,在公司豐富的功率器件工藝種類與優越的技術
品質保證下,上半年功率分立器件工藝平台營收規模同比增長超過30%,成為公司業績穩定的重要引擎,為增長持續注入
動力的是全球,尤其是中國大陸不斷增長的電動汽車及工業應用市場。持續創新的技術研發及穩定的供應保障,贏得了全
球客戶對華虹服務的認可。
華虹無錫一期12英寸廠(華虹七廠)在二零二三年上半年運行一切順利,產能利用率保持高位運行,預計年底完成每月
議,據此,各方有條件同意透過合營公司成立合營企業(即無錫二期項目(華虹九廠))並以現金方式分別向合營公司投資
司轉為合營企業並將合營公司的註冊資本由人民幣6.68百萬元增至40.2億美元。合營協議及合營投資協議的詳情載於本公
司日期為二零二三年二月二十四日的通函。無錫二期項目(華虹九廠)於二零二三年六月三十日舉行開工儀式,規劃月產能
二零二三年下半年,公司產能持續擴大,工藝開發加速,產品種類覆蓋將更加全面。儘管終端需求市場恢復緩慢,但公司
仍將堅定不移地推進多元化發展戰略,將更多先進「特色IC + 功率器件」工藝佈局到「8英寸+12英寸」生產平台,為全球客
戶提供更全面、更優質的特色工藝晶圓代工技術與服務。
管理層討論及分析
於中期後發行人民幣股份
於二零二二年六月二十七日,本公司股東特別大會審議並通過一項普通決議案,內容有關根據股東於會上授予的特別授
權,本公司建議發行不超過433,730,000股普通股,將由目標認購人在中國境內以人民幣認購並在科創板上市及以人民幣
買賣(「人民幣股份發行」)。該決議案的有效期經本公司股東於二零二三年六月二十六日批准後予以延長。
董事會認為,人民幣股份發行將使本公司能通過股本融資進入中國資本市場,從而拓寬本公司的籌資渠道及股東基礎,並
改善本公司的資本結構。此外,董事會認為,人民幣股份發行將能夠進一步加強本集團的財務狀況,滿足本集團的一般企
業用途及營運資金需求,並進一步提升本公司在中國市場的企業形象、知名度及市場佔有率。此外,預期人民幣股份發行
將有助本公司提升產能及研發能力,從而使本公司把握未來增長機會,鞏固其在中國領先的純晶圓代工企業的地位。
通過人民幣股份發行,發行並認購本公司407,750,000股普通股(「人民幣股份」),募集資金總額為人民幣21,203百萬元
(相當於2,974百萬美元)。扣除發行費用(包括承銷費和其他發行費用)後,募集資金淨額為人民幣20,921百萬元(相當於
本公司的人民幣股份於二零二三年八月七日在上交所科創板上市及交易(證券代碼:688347)。
有關人民幣股份發行的進一步詳情,請參閱本公司日期為二零二二年三月二十一日、二零二二年五月十二日、二零二二年
六月二十七日、二零二二年十一月四日、二零二三年一月三十日、二零二三年四月十三日、二零二三年五月十日、二零二
三年五月十七日、二零二三年五月二十八日、二零二三年六月七日、二零二三年六月二十八日、二零二三年七月五日、二
零二三年七月十四日、二零二三年七月十八日、二零二三年七月二十一日、二零二三年七月二十四日、二零二三年七月二
十六日、二零二三年七月二十七日、二零二三年七月三十一日及二零二三年八月四日的公告,以及本公司日期為二零二二
年六月七日、二零二三年六月五日及二零二三年六月二十九日的通函。
管理層討論及分析
重大投資及資本資產的未來計劃
誠如本公司日期為二零二二年六月七日及二零二三年六月五日的通函所披露,本公司計劃將人民幣股份發行的募集資金應
用於(其中包括)
「華虹製造(無錫)項目」、「8英寸廠優化升級項目」及「特色工藝技術創新研發項目」。
「華虹製造(無錫)項目」旨在從事於12英寸(300mm)晶圓上製造的集成電路的設計、研究、製造、測試、封裝及銷售。本
公司預計將建立生產設施及採購各類所需設備,如檢查設備、熔爐及注入機。該等芯片預計將用於高密度智能卡集成電
路、微控制器、智能電源管理系統及片上系統等技術產品。預計於二零二五年初開始生產,到二零二六年第二季度的月產
能目標為40,000片。
「8英寸廠優化升級項目」旨在升級部分邏輯工藝平台生產線及功率器件工藝平台生產線,以符合相關特色工藝平台的技術
要求及提升功率器件技術平台的柔性生產力。
「特色工藝技術創新研發項目」旨在加強本公司的自主創新及研發能力。
有關進一步詳情,請參閱本公司日期為二零二二年六月七日及二零二三年六月五日的通函。
除上文及本中期報告所披露者外,截至二零二三年六月三十日,本集團並無重大投資或資本資產的其他具體計劃。
REPORT ON REVIEW OF INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料的審閱報告
To the board of directors of Hua Hong Semiconductor Limited 致華虹半導體有限公司的董事會
(Incorporated in Hong Kong with limited liability) (於香港註冊成立之有限公司)
Introduction 引言
We have reviewed the interim financial information set out on 吾等已審閱載於第 32 至 60 頁的中期財務資
pages 32 to 60 which comprises the condensed consolidated 料,其中包括華虹半導體有限公司(「貴公
statement of financial position of Hua Hong Semiconductor Limited 司」)及其子公司(統稱「貴集團」)於二零二三
(the “Company”) and its subsidiaries (collectively referred to 年六月三十日的簡明綜合財務狀況表及截至
as the “Group”) as at 30 June 2023 and the related condensed 該日止六個月期間的相關簡明綜合損益表、
consolidated statements of profit or loss, comprehensive income, 全面收益表、權益變動表及現金流量表以及
changes in equity and cash flows for the six-month period then 其他解釋附註。香港聯合交易所有限公司證
ended, and other explanatory notes. The Rules Governing the 券上市規則規定,須按照當中訂明的相關規
Listing of Securities on The Stock Exchange of Hong Kong Limited 定及香港會計師公會(「香港會計師公會」)頒
require the preparation of a report on interim financial information 佈的香港會計準則第34號中期財務報告(「香
to be in compliance with the relevant provisions thereof and 港會計準則第34號」)的規定就中期財務資料
Hong Kong Accounting Standard 34 Interim Financial Reporting 編製報告。貴公司的董事須負責根據香港會
(“HKAS 34”) issued by the Hong Kong Institute of Certified Public 計準則第34號編製及列報本中期財務資料。
Accountants (“HKICPA”). The directors of the Company are 吾等的責任是根據吾等的審閱對本中期財務
responsible for the preparation and presentation of this interim 資料作出結論,並按照吾等雙方協定的委聘
financial information in accordance with HKAS 34. Our responsibility 條款,僅向全體董事會報告。除此以外,吾
is to express a conclusion on this interim financial information 等的報告不可用作其他用途。吾等概不會就
based on our review. Our report is made solely to you, as a body, 本報告的內容向任何其他人士負責或承擔責
in accordance with our agreed terms of engagement, and for no 任。
other purpose. We do not assume responsibility towards or accept
liability to any other person for the contents of this report.
Scope of Review 審閱範圍
We conducted our review in accordance with Hong Kong Standard 吾等已根據香港會計師公會頒佈的香港審閱
on Review Engagements 2410 Review of Interim Financial 委聘準則第2410號由實體的獨立核數師執行
Information Performed by the Independent Auditor of the Entity 中期財務資料審閱 進行審閱。審閱中期財務
issued by the HKICPA. A review of interim financial information 資料包括主要向負責財務和會計事務的人員
consists of making inquiries, primarily of persons responsible for 作出查詢,及應用分析性和其他審閱程序。
financial and accounting matters, and applying analytical and other 審閱的範圍遠較根據香港審計準則進行審核
review procedures. A review is substantially less in scope than 的範圍為小,故不能令吾等保證吾等將知悉
an audit conducted in accordance with Hong Kong Standards on 在審核中可能發現的所有重大事項。因此,
Auditing and consequently does not enable us to obtain assurance 吾等不會發表審核意見。
that we would become aware of all significant matters that might
be identified in an audit. Accordingly, we do not express an audit
opinion.
Conclusion 結論
Based on our review, nothing has come to our attention that causes 按照吾等的審閱,吾等並無發現任何事項,
us to believe that the interim financial information is not prepared, in 令吾等相信中期財務資料在各重大方面未有
all material respects, in accordance with HKAS 34. 根據香港會計準則第34號編製。
Certified Public Accountants 執業會計師
Hong Kong 香港
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
PROFIT OR LOSS
中期簡明綜合損益表 FOR THE SIX MONTHS ENDED 30 JUNE 2023
截至二零二三年六月三十日止六個月
FOR THE SIX MONTHS
ENDED 30 JUNE
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
Notes (US$’000) (US$’000)
附註 (千美元) (千美元)
Revenue 銷售收入 4 1,262,223 1,215,471
Cost of sales 銷售成本 (884,970) (846,578)
Gross profit 毛利 377,253 368,893
Other income and gains 其他收入及收益 4 50,679 20,006
Fair value loss on an investment property 投資物業的公平值虧損 – (316)
Selling and distribution expenses 銷售及分銷費用 (5,090) (7,026)
Administrative expenses 管理費用 (147,839) (138,914)
Other expenses 其他費用 (46,126) (53,205)
Finance costs 財務費用 (56,700) (14,980)
Share of profits of associates 分佔聯營公司溢利 3,504 2,299
PROFIT BEFORE TAX 稅前溢利 5 175,681 176,757
Income tax expense 所得稅開支 6 (26,945) (21,407)
PROFIT FOR THE PERIOD 期內溢利 148,736 155,350
Attributable to: 以下各項應佔:
Owners of the parent 母公司擁有人 230,758 186,877
Non-controlling interests 非控股權益 (82,022) (31,527)
EARNINGS PER SHARE ATTRIBUTABLE 母公司普通股權持有人
TO ORDINARY EQUITY HOLDERS 應佔每股盈利:
OF THE PARENT: 7
Basic 基本 US$0.176 US$0.144
– For profit for the period -期內溢利 0.176美元 0.144美元
Diluted 攤薄 US$0.175 US$0.142
– For profit for the period -期內溢利 0.175美元 0.142美元
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
中期簡明綜合全面收益表
FOR THE SIX MONTHS ENDED 30 JUNE 2023
截至二零二三年六月三十日止六個月
FOR THE SIX MONTHS
ENDED 30 JUNE
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
PROFIT FOR THE PERIOD 期內溢利 148,736 155,350
OTHER COMPREHENSIVE INCOME 其他全面收益
Other comprehensive income that may be 於其後期間可能重新分類至
reclassified to profit or loss in subsequent 損益的其他全面收益:
periods:
Exchange differences on translation of foreign 換算海外業務產生的外匯差額
operations (169,717) (188,701)
Net other comprehensive income that may be 於其後期間可能重新分類至
reclassified to profit or loss in subsequent 損益的其他全面收益淨額
periods (169,717) (188,701)
Other comprehensive income that will not be 於其後期間不會重新分類至
reclassified to profit or loss in subsequent 損益的其他全面收益:
periods:
Equity investments designated at fair value 指定按公平值計入其他全面
through other comprehensive income: 收益的股權投資:
Changes in fair value 公平值變動 (20,548) (25,116)
Income tax effect 所得稅影響 3,082 3,767
Net other comprehensive income that will not be 於其後期間不會重新分類至
reclassified to profit or loss in subsequent 損益的其他全面收益淨額
periods (17,466) (21,349)
OTHER COMPREHENSIVE INCOME FOR THE 期內其他全面收益,扣除稅項
PERIOD, NET OF TAX (187,183) (210,050)
TOTAL COMPREHENSIVE LOSS FOR THE 期內全面虧損總額
PERIOD (38,447) (54,700)
Attributable to: 以下各項應佔:
Owners of the parent 母公司擁有人 95,074 16,669
Non-controlling interests 非控股權益 (133,521) (71,369)
(38,447) (54,700)
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
中期簡明綜合財務狀況表 30 JUNE 2023
二零二三年六月三十日
二零二三年 二零二二年
六月三十日 十二月三十一日
(Unaudited) (Audited)
(未經審核) (經審核)
Notes (US$’000) (US$’000)
附註 (千美元) (千美元)
NON-CURRENT ASSETS 非流動資產
Property, plant and equipment 物業、廠房及設備 9 3,256,562 3,367,716
Right-of-use assets 使用權資產 80,145 78,425
Investment property 投資物業 163,241 169,363
Intangible assets 無形資產 31,170 32,986
Investment in associates 於聯營公司的投資 129,414 130,721
Equity investments designated at fair value 指定按公平值計入其他
through other comprehensive income 全面收益的權益工具 151,812 178,632
Long term prepayments 長期預付款項 40,937 7,742
Deferred tax assets 遞延稅項資產 17,393 14,066
Total non-current assets 非流動資產總額 3,870,674 3,979,651
CURRENT ASSETS 流動資產
Properties under development 發展中物業 143,674 134,723
Inventories 存貨 558,252 578,060
Trade and notes receivables 貿易應收款項及應收票據 10 310,705 291,856
Prepayments, other receivables and 預付款項、其他應收款項及
other assets 其他資產 32,194 48,273
Due from related parties 應收關聯方款項 16,803 13,006
Pledged deposits 已抵押存款 167,077 1,042
Cash and cash equivalents 現金及現金等價物 1,850,957 2,008,765
Total current assets 流動資產總額 3,079,662 3,075,725
CURRENT LIABILITIES 流動負債
Trade payables 貿易應付款項 11 227,907 236,999
Other payables and accruals 其他應付款項及暫估費用 397,826 593,971
Interest-bearing bank borrowings 計息銀行借款 385,746 426,756
Lease liabilities 租賃負債 4,477 4,704
Government grants 政府補助 34,133 37,714
Due to related parties 應付關聯方款項 4,720 6,096
Income tax payable 應付所得稅 49,557 76,176
Total current liabilities 流動負債總額 1,104,366 1,382,416
NET CURRENT ASSETS 流動資產淨額 1,975,296 1,693,309
TOTAL ASSETS LESS CURRENT 資產總值減流動負債
LIABILITIES 5,845,970 5,672,960
continued/…
續╱…
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
中期簡明綜合財務狀況表
二零二三年六月三十日
二零二三年 二零二二年
六月三十日 十二月三十一日
(Unaudited) (Audited)
(未經審核) (經審核)
Notes (US$’000) (US$’000)
附註 (千美元) (千美元)
NON-CURRENT LIABILITIES 非流動負債
Interest-bearing bank borrowings 計息銀行借款 1,410,544 1,481,580
Lease liabilities 租賃負債 18,312 14,644
Deferred tax liabilities 遞延稅項負債 21,938 41,268
Total non-current liabilities 非流動負債總額 1,450,794 1,537,492
Net assets 資產淨額 4,395,176 4,135,468
EQUITY 權益
Equity attributable to owners of the 母公司擁有人應佔權益
parent
Share capital 股本 12 1,997,829 1,994,462
Reserves 儲備 1,130,367 1,036,008
Total equity attributable to owners of the 母公司擁有人應佔權益總額
parent 3,128,196 3,030,470
Non-controlling interests 非控股權益 1,266,980 1,104,998
Total equity 權益總額 4,395,176 4,135,468
Suxin Zhang Jun Ye
張素心 葉峻
Director Director
董事 董事
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
CHANGES IN EQUITY
中期簡明綜合權益變動表 FOR THE SIX MONTHS ENDED 30 JUNE 2023
截至二零二三年六月三十日止六個月
Attributable to owners of the parent
母公司擁有人應佔
Other
reserve Retained
Share and Asset Statutory Exchange profits/
Share Merger option contributed Fair value revaluation reserve fluctuation (accumulated Non-controlling Total
capital reserve reserve surplus reserve reserve# fund reserve losses) Total interests equity
購股權 其他儲備及 公平值 資產 法定 匯兌 未分配利潤╱ 非控股
股本 合併儲備 儲備 供款盈餘 儲備 重估儲備# 儲備基金 波動儲備 (未彌補虧損) 總計 權益 權益總額
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元
(note 12)
(附註12)
At 1 January 2023 於二零二三年一月一日 1,994,462 645,494* 13,346* 35,685* (22,247)* 99,257* 191,125* (30,145)* 103,493* 3,030,470 1,104,998 4,135,468
Profit/(loss) for the period 期內溢利╱(虧損) – – – – – – – – 230,758 230,758 (82,022) 148,736
Other comprehensive income for the period: 期內其他全面收益:
Change in fair value of equity investments 指定按公平值計入其他
designated at fair value through other 全面收益的股權投資的
comprehensive income, net of tax 公平值變動,扣除稅項 – – – – (17,466) – – – – (17,466) – (17,466)
Exchange differences on translation of 換算海外業務產生的
foreign operations 外匯差額 – – – – – – – (118,218) – (118,218) (51,499) (169,717)
Total comprehensive income/(loss) for the 期內全面收益╱(虧損)總額
period – – – – (17,466) – – (118,218) 230,758 95,074 (133,521) (38,447)
Issue of shares 發行股份 3,367 – (822) – – – – – – 2,545 – 2,545
Equity-settled share option arrangements 以權益結算的購股權安排 – – 107 – – – – – – 107 33 140
Capital contribution from non-controlling 非控股權益出資
interests – – – – – – – – – – 295,470 295,470
Transfer from retained profits generated by a 轉撥自一間子公司產生的
subsidiary 留存溢利 – – – – – – 29,259 – (29,259) – – –
At 30 June 2023 (unaudited) 於二零二三年六月三十日
(未經審核) 1,997,829 645,494* 12,631* 35,685* (39,713)* 99,257* 220,384* (148,363)* 304,992* 3,128,196 1,266,980 4,395,176
At 1 January 2022 於二零二二年一月一日 1,986,152 645,494* 14,572* 35,685* 25,055* 99,257* 140,426* 221,381* (297,663)* 2,870,359 814,188 3,684,547
Profit/(loss) for the period 期內溢利╱(虧損) – – – – – – – – 186,877 186,877 (31,527) 155,350
Other comprehensive income for the period: 期內其他全面收益:
Change in fair value of equity investments 指定按公平值計入其他
designated at fair value through other 全面收益的股權投資的
comprehensive income, net of tax 公平值變動,扣除稅項 – – – – (21,349) – – – – (21,349) – (21,349)
Exchange differences on translation of 換算海外業務產生的
foreign operations 外匯差額 – – – – – – – (148,859) – (148,859) (39,842) (188,701)
Total comprehensive income/(loss) for the 期內全面收益╱(虧損)總額
period – – – – (21,349) – – (148,859) 186,877 16,669 (71,369) (54,700)
Issue of shares 發行股份 1,342 – (340) – – – – – – 1,002 – 1,002
Equity-settled share option arrangements 以權益結算的購股權安排 – – 910 – – – – – – 910 107 1,017
Transfer from retained profits generated by a 轉撥自一間子公司產生的
subsidiary 留存溢利 – – – – – – 20,963 – (20,963) – – –
At 30 June 2022 (unaudited) 於二零二二年六月三十日
(未經審核) 1,987,494 645,494* 15,142* 35,685* 3,706* 99,257* 161,389* 72,522* (131,749)* 2,888,940 742,926 3,631,866
# The asset revaluation reserve arose from a change in use from an # 資產重估儲備源自將自用物業用途更改為
owner-occupied property to an investment property carried at fair 按公平值列賬之投資物業。
value.
* These reserve accounts comprise the consolidated reserves of * 該等儲備賬構成於中期簡明綜合財務狀況
US$1,130,367,000 (31 December 2022: US$1,036,008,000) in the 表內之綜合儲備1,130,367,000美元(二零
interim condensed consolidated statement of financial position. 二二年十二月三十一日:1,036,008,000美
元)。
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
CASH FLOWS
中期簡明綜合現金流量表
FOR THE SIX MONTHS ENDED 30 JUNE 2023
截至二零二三年六月三十日止六個月
FOR THE SIX MONTHS
ENDED 30 JUNE
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
CASH FLOWS FROM OPERATING ACTIVITIES 經營活動所得現金流量
Profit before tax 稅前溢利 175,681 176,757
Adjustments for: 就以下各項作出的調整:
Finance costs 財務費用 56,700 14,980
Share of profits of associates 分佔聯營公司溢利 (3,504) (2,299)
Interest income 利息收入 (25,421) (9,115)
Loss/(gain) on disposal of items of property, plant 出售物業、廠房及設備
and equipment 項目的虧損╱(收益) 16 (27)
Depreciation of property, plant and equipment 物業、廠房及設備折舊 234,954 224,253
Changes in fair value of an investment property 投資物業公平值變動 – 316
Write-down of inventories to net realisable value 存貨撇減至可變現淨值 42,614 6,262
Amortisation of intangible assets 無形資產攤銷 5,836 5,466
Depreciation of right-of-use assets 使用權資產折舊 3,209 2,866
Impairment/(reversal of impairment) of trade 貿易應收款項減值╱
receivables (減值轉回) 319 (126)
Equity-settled share option expense 以權益結算的購股權開支 140 1,017
Decrease/(increase) in inventories 存貨減少╱(增加) 673 (41,044)
Increase in properties under development 發展中物業增加 (8,951) (17,554)
Increase in trade and notes receivables 貿易應收款項及應收
票據增加 (19,113) (60,735)
Decrease/(increase) in prepayments, other 預付款項、其他應收款項及
receivables and other assets 其他資產減少╱(增加) 17,084 (16,481)
Increase in amounts due from related parties 應收關聯方款項增加 (3,797) (7,302)
Decrease in pledged deposits 已抵押存款減少 – 1,851
(Decrease)/increase in trade payables 貿易應付款項(減少)╱增加 (9,092) 108,878
(Decrease)/increase in other payables and accruals 其他應付款項及暫估費用
(減少)╱增加 (99,536) 59,188
(Decrease)/increase in government grants 政府補助(減少)╱增加 (1,873) 3,420
(Decrease)/increase in amounts due to 應付關聯方款項(減少)╱
related parties 增加 (1,376) 8,129
Cash generated from operations 經營產生的現金 364,563 458,700
Income tax paid 已付所得稅 (71,505) (50,852)
Net cash flows generated from operating activities 經營活動所得現金流量淨額 293,058 407,848
continued/…
續╱…
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
CASH FLOWS
中期簡明綜合現金流量表 FOR THE SIX MONTHS ENDED 30 JUNE 2023
截至二零二三年六月三十日止六個月
FOR THE SIX MONTHS
ENDED 30 JUNE
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
CASH FLOWS FROM INVESTING ACTIVITIES 投資活動所得現金流量
Interest received 已收利息 27,646 4,569
Purchases of items of property, plant and equipment, 購買物業、廠房及設備
prepaid lease payment and intangible assets 項目、預付租賃款項及
無形資產 (381,586) (236,433)
Proceeds from disposal of items of property, 出售物業、廠房及設備
plant and equipment 項目所得款項 10 –
Receipt of government grants for property, 就物業、廠房及設備收取
plant and equipment 政府補助 – 4,805
Net cash flows used in investing activities 投資活動所用現金流量淨額 (353,930) (227,059)
CASH FLOWS FROM FINANCING ACTIVITIES 融資活動所得現金流量
Proceeds from bank borrowings 銀行借款所得款項 21,088 84,384
Proceeds from issue of shares 發行股份所得款項 2,849 1,645
Capital contribution from non-controlling interests 非控股權益出資 296,197 –
Repayment of bank loans 償還銀行貸款 (128,092) (97,673)
Increase in pledged deposits 已抵押存款增加 (167,738) –
Interest paid 已付利息 (57,533) (13,784)
Principal portion of lease payments 支付租賃本金部份 (3,093) (2,220)
Payment of share issued expense 支付股份發行開支 (612) –
Net cash flows used in financing activities 融資活動所用現金流量淨額 (36,934) (27,648)
NET (DECREASE)/INCREASE IN CASH AND 現金及現金等價物(減少)╱
CASH EQUIVALENTS 增加淨額 (97,806) 153,141
Cash and cash equivalents at beginning of period 期初現金及現金等價物 2,008,765 1,610,140
Effect of foreign exchange rate changes, net 外匯匯率變動影響,淨額 (60,002) (55,631)
CASH AND CASH EQUIVALENTS AT END OF 期末現金及現金等價物
PERIOD 1,850,957 1,707,650
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
Hua Hong Semiconductor Limited (the “Company”) is a limited 華虹半導體有限公司(「本公司」)為一家
liability company incorporated in Hong Kong on 21 January 於二零零五年一月二十一日在香港註冊
Hong Kong. 2212室。
The principal activity of the Company is investment holding. 本公司的主要活動為投資控股。於期
During the period, the Company’s subsidiaries (collectively 內,本公司的子公司(統稱為「本集團」)
refer to as the “Group”) were principally engaged in the 主要從事半導體產品的生產及貿易。
manufacture and trading of semiconductor products.
In the opinion of the directors, the parent of the Company is 董事認為,本公司的母公司為上海華虹
Shanghai Huahong (Group) Co., Ltd. (“Huahong Group”), (集團)有限公司(「華虹集團」),該公司
which is a state-owned company established in the People’s 為於中華人民共和國(「中國」)成立並由
Republic of China (“PRC”) and supervised by the Shanghai 上海市國有資產監督管理委員會(「上海
State-owned Assets Supervision and Administration 市國資委」)監管的國有公司。本公司的
Commission (“Shanghai SASAC”). The ultimate parent of the 最終控股公司為上海市國資委。
Company is Shanghai SASAC.
The interim condensed consolidated financial information for 截至二零二三年六月三十日止六個月的
the six months ended 30 June 2023 has been prepared in 中期簡明綜合財務資料已根據香港會計
accordance with HKAS 34 Interim Financial Reporting . The 準則第34號中期財務報告 編製。中期簡
interim condensed consolidated financial information does 明綜合財務資料並不包括年度財務報表
not include all the information and disclosures required in the 規定的所有資料及披露事項,並應與本
annual financial statements, and should be read in conjunction 集團截至二零二二年十二月三十一日止
with the Group’s annual consolidated financial statements for 年度的年度綜合財務報表一併閱讀。
the year ended 31 December 2022.
The financial information relating to the year ended 31 中期簡明綜合財務狀況表所載有關截至
December 2022 that is included in the interim condensed 二零二二年十二月三十一日止年度的財
consolidated statement of financial position as comparative 務資料(作為比較資料),並不構成本公
information does not constitute the Company’s statutory annual 司於該年度之法定年度綜合財務報表,
consolidated financial statements for that year but is derived 惟摘錄自該等財務報表。根據香港公司
from those financial statements. Further information relating to 條例第436 條披露的有關該等法定財務
those statutory financial statements required to be disclosed 報表的進一步資料載列如下:
in accordance with section 436 of the Hong Kong Companies
Ordinance is as follows:
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
The Company has delivered the financial statements for the 本公司已按香港公司條例第662(3)條及
year ended 31 December 2022 to the Registrar of Companies 附表 6 第 3 部的規定,將截至二零二二
as required by section 662(3) of, and Part 3 of Schedule 6 年十二月三十一日止年度的財務報表送
to, the Hong Kong Companies Ordinance. The Company’s 呈公司註冊處處長。本公司的核數師已
auditors have reported on the financial statements for the 就截至二零二二年十二月三十一日止年
year ended 31 December 2022. The auditor’s report was 度財務報表提交報告。該核數師報告中
unqualified; did not refer to any matters to which the auditor 並無保留意見;並未提述核數師在不就
drew attention by way of emphasis without qualifying the 該報告作保留意見的情況下以強調方式
report; and did not contain a statement under sections 406(2), 促請有關人士注意的任何事項;亦未載
Disclosures
The accounting policies adopted in the preparation of the 編製中期簡明綜合財務資料所採納的會
interim condensed consolidated financial information are 計政策與編製本集團截至二零二二年十
consistent with those followed in the preparation of the Group’s 二月三十一日止年度的年度綜合財務報
annual consolidated financial statements for the year ended 表所採用者一致,惟就本期財務資料首
new and revised Hong Kong Financial Reporting Standards 準則(「香港財務報告準則」)除外。
(“HKFRSs”) for the first time for the current period’s financial
information.
HKFRS 17 Insurance Contracts 香港財務報告準則第17號 保險合約
Amendments to HKFRS 17 Insurance Contracts 香港財務報告準則第17號 保險合約
(修訂本)
Amendment to HKFRS 17 Initial Application of HKFRS 17 and 香港財務報告準則第17號 首次應用香港財務報告準則
HKFRS 9 – Comparative Information (修訂本) 第17號及香港財務報告準則
第9號-比較資料
Amendments to HKAS 1 and Disclosure of Accounting Policies 香港會計準則第1號及 會計政策披露
HKFRS Practice Statement 2 香港財務報告準則
實務報告第2號(修訂本)
Amendments to HKAS 8 Definition of Accounting Estimates 香港會計準則第8號(修訂本) 會計估計的定義
Amendments to HKAS 12 Deferred Tax related to Assets and Liabilities 香港會計準則第12號 與單一交易產生的資產及負債
arising from a Single Transaction (修訂本) 相關的遞延稅項
Amendments to HKAS 12 International Tax Reform – Pillar 香港會計準則第12號 國際稅務改革-第二支柱模型規則
Two Model Rules (修訂本)
The adoption of above new and revised standards has no 採納上述新訂及經修訂準則並無對本集
significant financial effect to the Group’s interim condensed 團的中期簡明綜合財務資料產生重大財
consolidated financial information. 務影響。
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
For management purposes, the Group is organised into one 出於管理需要,本集團僅構組一個業務
single business unit that includes primarily the manufacture 單元,主要包括製造及銷售半導體產
and sale of semiconductor products. Management reviews the 品。管理層在作出分配資源的相關決策
consolidated results when making decisions about allocating 及評估本集團表現時審核綜合業績。因
resources and assessing the performance of the Group. 此,並無呈列分部分析。
Accordingly, no segment analysis is presented.
The principal assets employed by the Group are located in 本集團使用的主要資產位於中國,故並
the PRC. Therefore, no segment information based on the 無按資產的地理位置於期內呈列分部資
geographical location of assets is presented for the period. 料。
Revenues are attributed to geographic areas based on the 地理區域應佔收入乃按客戶所在地劃
location of customers. Revenues regarding geographical 分。期內按客戶所在地劃分的地區分部
segments based on the location of customers for the period 收入呈列如下:
are presented as follows:
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
China (including Hong Kong) 中國(包括香港) 966,424 902,087
North America 北美洲 119,307 131,277
Asia (excluding China and Japan) 亞洲(不包括中國及日本) 84,248 112,822
Europe 歐洲 77,309 50,698
Japan 日本 14,935 18,587
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
An analysis of revenue and other income and gains is as 對收入、其他收入及收益的分析如下:
follows:
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Revenue from contracts with customers 客戶合約收入
Sale of goods 銷售貨品 1,262,223 1,215,471
Other income 其他收入
Rental income 租金收入 7,384 7,633
Interest income 利息收入 25,421 9,115
Government subsidies 政府補貼 15,001 2,338
Others 其他 2,873 893
Other gains 其他收益
Gain on disposal of items of property, plant and 出售物業、廠房及設備
equipment 項目所得收益 – 27
– 27
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
(Continued)
An analysis of revenue and other income and gains is as 對收入、其他收入及收益的分析如下:
follows: (continued) (續)
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Type of goods or service 貨品或服務類型
Sales of semiconductor products and total 半導體產品的銷售和
revenue from contracts with customers 來自客戶合約的總收入 1,262,223 1,215,471
Timing of revenue recognition 收入確認時間
Goods transferred at a point in time and total 在某一時點轉讓的貨品及
revenue from contracts with customers 來自客戶合約的總收入 1,262,223 1,215,471
The disaggregation of the Group’s revenue based on the 截至二零二三年六月三十日止六個月,
geographical region for the six months ended 30 June 2023 is 本集團基於地區的收入分類載列於附註
included in note 3. 3。
The Group’s profit before tax is arrived at after charging/ 本集團的稅前溢利乃於扣除╱(計入)下
(crediting): 列各項後達致:
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Cost of inventories sold 已售存貨成本 884,970 846,578
Write-down of inventories to net realisable value 存貨撇減至可變現淨值 42,614 6,262
Impairment/(reversal of impairment) of trade 貿易應收款項減值╱
receivables (減值撥回) 319 (126)
Exchange differences, net 外匯差額淨額 46,110 49,415
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
Profits arising in Hong Kong were subject to profits tax at the 於期內在香港產生的溢利須按16.5%(截
rate of 16.5% during the period (six months ended 30 June 至二零二二年六月三十日止六個月:
made as the Company and a subsidiary incorporated in Hong 及一家在香港註冊成立的子公司於期間
Kong had no assessable income during the period (six months 內並無取得應評稅收入,故並無就香港
ended 30 June 2022: Nil). 利得稅作出撥備(截至二零二二年六月三
十日止六個月:無)。
The Company’s subsidiary incorporated in the Cayman Islands 由於本公司在開曼群島註冊成立的子公
is not subject to corporate income tax (“CIT”) as it does not 司在開曼群島並無擁有營業地點(註冊辦
have a place of business (other than a registered office) or 事處除外)或經營任何業務,故有關子公
carry on any business in the Cayman Islands. 司毋須繳納企業所得稅(
「企業所得稅」)
。
All of the Group’s subsidiaries registered in the PRC and have 所有本集團在中國註冊且在中國內地營
operations in Mainland China are subject to PRC enterprise 運的子公司,應就其根據相關中國所得
income tax on the taxable income as reported in their PRC 稅法調整的中國法定賬目所呈報應課稅
statutory accounts adjusted in accordance with relevant PRC 收入按25%的法定稅率繳納中國企業所
income tax laws based on a statutory rate of 25%. 得稅。
Pursuant to the relevant laws and regulations in the PRC and 根據中國相關法律及法規及獲稅務主管
with approval from the tax authorities in charge, preferential 機關批准,被認定為高新技術企業的實
tax treatment of 15% is available to entities recognised as High 體可享受15%的稅收優惠待遇。本集團
and New Technology Enterprises. Shanghai Huahong Grace 一家子公司上海華虹宏力半導體製造有
Semiconductor Manufacturing Corporation, one of the Group’s 限公司被認定為高新技術企業,故有權
subsidiaries was recognised as High and New Technology 按15%的優惠稅率繳稅(二零二二年:
Enterprise and are entitled to a preferential tax rate of 15% 15%)。
(2022: 15%).
Pursuant to the relevant laws and regulations in the PRC and 根據中國相關法律及法規及獲稅務主管
with approval from the tax authorities in charge, one of the 機關批准,本集團一家子公司華虹半導
Group’s subsidiaries, Huahong Semiconductor (Wuxi) Co., 體(無錫)有限公司(「華虹無錫」)有權自
Ltd. (“Hua Hong Wuxi”), is entitled to an exemption from CIT 獲得應課稅溢利第一年起五年獲豁免繳
for five years, commencing from the first year that Hua Hong 納企業所得稅,及隨後五年減免50%。
Wuxi generates taxable profit, and a deduction of 50% on the 華虹無錫截至二零二三年六月三十日錄
CIT rate for the following five years. Hua Hong Wuxi was in 得累計稅項虧損,且免稅期尚未開始。
accumulated tax loss positions as of 30 June 2023, and the
tax holiday has not begun to take effect.
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
The major components of income tax expense of the Group 本集團所得稅開支的主要組成部份如
are as follows: 下:
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Current income tax expense – PRC 當期所得稅開支-中國 47,071 32,740
Current income tax expense – elsewhere 當期所得稅開支-其他地區 26 25
Deferred tax 遞延稅項 (20,152) (11,358)
Total income tax expense 所得稅開支總額 26,945 21,407
Equity Holders of the Parent 股盈利
The calculation of the basic earnings per share amounts is 每股基本盈利金額乃基於母公司普通股
based on the profit for the period attributable to ordinary equity 權持有人應佔期內溢利及於期內已發行
holders of the parent and the weighted average number of 1,307,657,291股(截至二零二二年六月
ordinary shares of 1,307,657,291 in issue during the period (six 三十日止六個月:1,301,607,081股)普
months ended 30 June 2022: 1,301,607,081). 通股的加權平均數計算。
The calculation of the diluted earnings per share amount 每股已攤薄盈利金額乃根據母公司普通
is based on the profit for the period attributable to ordinary 股權持有人應佔期內溢利計算。計算時
equity holders of the parent. The weighted average number 採用之普通股加權平均數為計算每股基
of ordinary shares used in the calculation is the number of 本盈利時採用之期內已發行普通股數目
ordinary shares in issue during the period, as used in the basic 加上假設所有潛在攤薄普通股被視為行
earnings per share calculation, and the weighted average 使或兌換為普通股時以零代價發行之普
number of ordinary shares assumed to have been issued at 通股加權平均數。
no consideration on the deemed exercise or conversion of all
dilutive potential ordinary shares into ordinary shares.
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
Equity Holders of the Parent (Continued) 股盈利(續)
The calculations of basic and diluted earnings per share are 每股基本及攤薄盈利的計算乃基於:
based on:
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Earnings 盈利
Profit attributable to ordinary equity holders of 用於計算每股基本盈利的
the parent, used in the basic earnings per 母公司普通股權持有人
share calculation 應佔溢利 230,758 186,877
Number of shares
股份數目
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(’000) (’000)
(千股) (千股)
Shares 股份
Weighted average number of ordinary shares 用於計算每股基本盈利的
in issue during the period used in the basic 期內已發行普通股
earnings per share calculation 加權平均數 1,307,657 1,301,607
Effect of dilution-weighted average number of 普通股攤薄加權平均數的
ordinary shares: 影響:
Share options 購股權 11,002 16,282
The directors did not declare any interim dividend for the six 董事並無就截至二零二三年六月三十日
months ended 30 June 2023 (six months ended 30 June 2022: 止六個月宣派任何中期股息(截至二零二
Nil). 二年六月三十日止六個月:無)。
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
During the six months ended 30 June 2023, the major changes 截至二零二三年六月三十日止六個月,
in property, plant and equipment include: 物業、廠房及設備的主要變動包括:
• The Group acquired items of property, plant and • 本集團購置物業、廠房及設備項目
equipment with a cost of US$246,129,000 (six months 的成本為246,129,000 美元(截至
ended 30 June 2022: US$214,708,000). 二零二二年六月三十日止六個月:
• Depreciation for items of property, plant and equipment • 期內物業、廠房及設備項目的折
was US$234,954,000 during the period (six months ended 舊 為 2 3 4 , 9 5 4 , 0 0 0 美 元( 截 至 二
• Assets with a net book value of US$45,000 were disposed • 截至二零二三年六月三十日止六
of by the Group during the six months ended 30 June 個月,本集團已出售賬面淨值為
loss/(gain) on disposal of US$16,000 (30 June 2022: 月三十日:61,000 美元),產生出
US$27,000). 售之虧損╱(收益)淨額16,000美元
(二零二二年六月三十日:27,000
美元)。
二零二三年 二零二二年
六月三十日 十二月三十一日
(Unaudited) (Audited)
(未經審核) (經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Trade receivables 貿易應收款項 240,229 229,409
Notes receivable 應收票據 72,331 64,038
Impairment of trade receivables 貿易應收款項減值 (1,855) (1,591)
An ageing analysis of the trade receivables, based on the 按發票日期計,貿易應收款項(扣除撥
invoice date and net of provisions, is as follows: 備)的賬齡分析如下:
二零二三年 二零二二年
六月三十日 十二月三十一日
(Unaudited) (Audited)
(未經審核) (經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Within 3 months 3個月以內 218,559 212,563
Over 3 and within 6 months 超過3個月且於6個月內 19,686 15,255
Over 6 months and within 1 year 超過6個月且於1年內 129 –
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
An ageing analysis of the trade payables of the Group as at 於報告期末按發票日期計,本集團貿易
the end of the reporting period, based on the invoice date, is 應付款項的賬齡分析如下:
as follows:
二零二三年 二零二二年
六月三十日 十二月三十一日
(Unaudited) (Audited)
(未經審核) (經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Within 1 month 1個月以內 137,266 141,338
Over 1 but within 3 months 超過1個月但於3個月內 39,700 60,772
Over 3 but within 6 months 超過3個月但於6個月內 16,903 11,699
Over 6 but within 12 months 超過6個月但於12個月內 18,570 9,388
Over 12 months 12個月以上 15,468 13,802
Number of
shares Amount
股份數目 金額
(’000) (US$’000)
(千股) (千美元)
Issue of shares with exercise of share options 發行可行使購股權的股份 1,310 3,367
(未經審核) 1,308,147 1,997,829
Issue of shares with exercise of share options 發行可行使購股權的股份 621 1,342
(未經審核) 1,301,813 1,987,494
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
The Group had the following capital commitments at the end 本集團於報告期末有以下資本承擔:
of the reporting period:
二零二三年 二零二二年
六月三十日 十二月三十一日
(Unaudited) (Audited)
(未經審核) (經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Contracted, but not provided for: 已訂約,但未撥備:
Property, plant and equipment 物業、廠房及設備 1,410,110 284,304
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
(a) Name and relationship (a) 名稱及關係
Name of related party Relationship with the Group
關聯方名稱 與本集團的關係
Huahong Group and its subsidiaries
華虹集團及其子公司
– Hua Hong International Inc. (“Huahong International”) Shareholder of the Company
-華虹國際有限公司(「華虹國際」) 本公司股東
– Shanghai Huahong Zealcore Electronics Co., Ltd. (“Huahong Zealcore”) Subsidiary of Huahong Group
-上海華虹摯芯科技有限公司(「華虹摯芯」) 華虹集團子公司
– Shanghai Hongri International Electronics Co., Ltd. (“Hongri”) Subsidiary of Huahong Group
-上海虹日國際電子有限公司(「虹日」) 華虹集團子公司
– Shanghai Integrated Circuit Research and Development Center (“ICRD”) * Subsidiary of Huahong Group
-上海集成電路研發中心(「集成電路研發」)* 華虹集團子公司
– Shanghai Hua Hong Jitong Smart System Co., Ltd. (“Jitong”) Subsidiary of Huahong Group
-上海華虹計通智能系統股份有限公司(「計通」) 華虹集團子公司
– Shanghai Huali Microelectronics Co., Ltd. (“Shanghai Huali”) Subsidiary of Huahong Group
-上海華力微電子有限公司(「上海華力」) 華虹集團子公司
SAIL and its subsidiaries
上海聯和及其子公司
– Shanghai Alliance Investment Ltd. (“SAIL”) Holding company of Sino-Alliance
International Ltd.
-上海聯和投資有限公司(「上海聯和」) Sino-Alliance International Ltd.的
控股公司
– Sino-Alliance International Ltd. (“SAIL International”) Shareholder of the Company
-Sino-Alliance International Ltd.(「SAIL International」) 本公司股東
Shanghai Huahong Technology Development Co., Ltd. (“Huahong Associate of the Group
Technology Development”)
上海華虹科技發展有限公司(「華虹科技發展」) 本集團聯營公司
– Shanghai Huahong Real Estate Co., Ltd. (“Huahong Real Estate”) Subsidiary of Huahong
Technology Development
-上海華虹置業有限公司(「華虹置業」) 華虹科技發展子公司
– Shanghai Huajin Property Management Co., Ltd. (“Huajin”) Subsidiary of Huahong
Technology Development
-上海華錦物業管理有限公司(「華錦」) 華虹科技發展子公司
* ICRD, a subsidiary of Huahong Group, is no longer a * 自二零二三年一月一日起,華虹
related party to the Group since 1 January 2023. 集團子公司集成電路研發不再為
本集團的關聯方。
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
(b) In addition to the transactions disclosed elsewhere in (b) 除本財務資料其他部份所披露的交
this financial information, the Group had the following 易外,本集團於期內已與關聯方進
transactions with related parties during the period: 行以下交易:
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Sales of goods to related parties 向關聯方出售貨品
(note (i)) (附註(i))
ICRD* 集成電路研發* – 2,098
Huahong Zealcore 華虹摯芯 7,698 4,202
Hongri 虹日 785 1,663
Purchases of goods from related parties 自關聯方購買貨品
(note (ii)) (附註(ii))
Hongri 虹日 10,804 9,340
Huahong Zealcore 華虹摯芯 660 373
Jitong 計通 8 5
Shanghai Huali 上海華力 – 20
Rental income from a related party 來自關聯方的租金收入
(note (iii)) (附註(iii))
Shanghai Huali 上海華力 7,040 7,340
Service fee charged by a related party 關聯方收取的服務費
(note (iv)) (附註(iv))
Huajin 華錦 303 175
Interest expense charged by a related 關聯方(作為承租人)
party under lease arrangement as a 根據租賃安排收取的
lessee (note (iv)) 利息開支(附註(iv))
Huahong Real Estate 華虹置業 473 370
Expense paid on behalf of a related party 代關聯方支付的開支
(note (v)) (附註(v))
Shanghai Huali 上海華力 14,338 16,884
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
(b) (Continued) (b) (續)
* The related party transactions with ICRD disclosed above * 上文所披露的與集成電路研發的
were conducted from 1 January 2022 to 30 June 2022. 關聯方交易乃於二零二二年一月
一日至二零二二年六月三十日期
間進行。
Notes: 附註:
(i) The sales of goods to the related parties were made (i) 向關聯方出售的貨品乃根據關聯
according to the prices and terms agreed between the 方之間協定的價格及條款作出。
related parties.
(ii) The purchases of goods and intangible assets from related (ii) 自關聯方購買的貨品及無形資產
parties were made according to the prices and terms 乃根據關聯方提供的價格及條款
offered by the related parties. 作出。
(iii) The rental income received from a related party was based (iii) 來自關聯方的租金收入乃根據關
on the prices and terms agreed between the related 聯方之間協定的價格及條款收取。
parties.
(iv) The service fees and interest expense charged by related (iv) 服務費及利息開支乃由關聯方根
parties were based on the prices and terms agreed 據關聯方之間協定的價格及條款
between the related parties. 收取。
(v) The expense paid on behalf of the related party is interest- (v) 代關聯方支付的開支為不計息,
free and repayable on demand. 及須按要求償還。
(c) Outstanding balances with related parties (c) 與關聯方之間的未結清餘額
The amounts due from/to related parties as at the end 於報告期末應收╱應付關聯方款項
of the reporting period are unsecured, interest-free and 為無抵押、不計息且根據與關聯方
settled in accordance with the terms agreed with the 的協定條款進行結算。
related parties.
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
(d) Compensation of key management personnel of the (d) 本集團主要管理人員的酬金
Group
For the six months
ended 30 June
截至六月三十日止六個月
二零二三年 二零二二年
(Unaudited) (Unaudited)
(未經審核) (未經審核)
(US$’000) (US$’000)
(千美元) (千美元)
Short term employee benefits 短期僱員福利 1,869 1,618
Pension scheme contributions 退休金計劃供款 80 54
Equity-settled share option expense 以權益結算的購股權開支 103 196
Total compensation paid to key management 支付予主要管理人員的
personnel 酬金總額 2,052 1,868
Financial Instruments 級
The carrying amounts and fair values of the Group’s financial 本集團金融工具(不包括賬面值與公平值
instrument, other than those with carrying amounts that 大致相若的金融工具)的賬面值及公平值
reasonably approximate to fair values, are as follows: 載列如下:
Carrying amounts Fair values
賬面值 公平值
二零二三年 二零二二年 二零二三年 二零二二年
六月三十日 十二月三十一日 六月三十日 十二月三十一日
(US$’000) (US$’000) (US$’000) (US$’000)
(千美元) (千美元) (千美元) (千美元)
(Unaudited) (Audited) (Unaudited) (Audited)
(未經審核) (經審核) (未經審核) (經審核)
Financial assets 金融資產
Equity investments designated 指定為按公平值計入其他
at fair value through other 全面收益的股本投資
comprehensive income 151,812 178,632 151,812 178,632
Financial liability 金融負債
Interest-bearing bank borrowings 計息銀行借款 1,410,544 1,481,580 1,472,322 1,537,685
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
Financial Instruments (Continued) 級(續)
The Group’s finance department headed by the finance 本集團旗下以財務經理為首的財務部負
manager is responsible for determining the policies and 責釐定金融工具公平值計量的政策及程
procedures for the fair value measurement of financial 序。財務部直接向財務總監報告。於各
instruments. The finance department reports directly to the 報告日期,財務部分析金融工具的價
chief financial officer. At each reporting date, the finance 值變動並釐定估值中適用的主要輸入數
department analyses the movements in the values of financial 據。估值由財務總監審核及批准。
instruments and determines the major inputs applied in the
valuation. The valuation is reviewed and approved by the chief
financial officer.
The fair values of the financial assets and liabilities are 金融資產及負債的公平值是按當前與自
included at the amount at which the instrument could be 願方交易(而非被迫或清盤出售)中可交
exchanged in a current transaction between willing parties, 換有關工具的金額列賬。估計該等按公
other than in a forced or liquidation sale. The following 平值計量的金融資產及負債的公平值乃
methods and assumptions were used to estimate the fair 使用以下的方法及假設:
values of those financial assets and liabilities measured at fair
value:
The fair values of listed equity investments are based on 倘投資仍處於禁售期,上市股本投資之
quoted market prices adjusted by discount for illiquidity if the 公平值基於市場報價由缺乏流通性的折
investments are still in the lock-up period. The fair values of 讓價調整。指定為按公平值計入其他全
unlisted equity investments designated at fair value through 面收益的未上市股本投資之公平值基
other comprehensive income have been estimated using a 於不受可觀察市場價格或利率支持的假
market-based valuation technique based on assumptions that 設採用市場基準估值技術估算。倘最近
are not supported by observable market prices or rates. If 成交交易有關未上市投資,公平值乃基
there is a recent deal regarding the unlisted investments, the 於交易價估算。倘並無該等交易可供參
fair values are estimated based on the dealing price. If there 考,董事將根據行業、規模、影響力及
is no such deal to be referenced, the directors will determine 策略釐定可比較上市公司(同行),且就
comparable public companies (peers) based on industry, size, 已確定的各可資比較公司計算適當的價
leverage and strategy, and calculates an appropriate price 格倍數,如市賬率(「市賬率」)倍數及市
multiple, such as price to book value (“P/B”) multiple and price 銷率(「市銷率」)倍數。該倍數乃按可資
to sales value (“P/S”) multiple, for each comparable company 比較公司之企業價值除以淨資產所得。
identified. The multiple is calculated by dividing the enterprise 交易倍數隨後根據公司特定情況及狀況
value of the comparable company by net assets. The trading 就非流動性等因素予以貼現。貼現倍數
multiple is then discounted for considerations such as 適用於非上市股本投資的相應淨資產以
illiquidity based on company-specific facts and circumstances. 計量公平值。董事認為,計入綜合財務
The discounted multiple is applied to the corresponding net 狀況表的估值技術所產生的估計公平值
assets of the unlisted equity investments to measure the fair 以及計入其他全面收益的公平值相關變
value. The directors believe that the estimated fair values 動屬合理,而於報告期末的價值最為恰
resulting from the valuation technique, which are recorded 當。
in the consolidated statement of financial position, and the
related changes in fair values, which are recorded in other
comprehensive income, are reasonable, and that they were
the most appropriate values at the end of the reporting period.
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
Financial Instruments (Continued) 級(續)
Management has assessed that the fair values of the non- 管理層評估,本公司浮動利率計息銀行
current portion of interest-bearing bank borrowings with 借款之非即期部分的公平值由於其浮動
floating interest rate of the Company approximate to their fair 利率而與其公平值相若。
values due to their floating interest rates.
The non-current portion of lease liabilities of the Group 本集團租賃負債的非即期部分與其公平
approximate to their fair values since their carrying amounts 值相若,乃由於其賬面值為現值,並且
are present value and the internal rates of return are close 內部回報率與具有相似條款、信貸風險
to rates currently available for instruments with similar terms, 及剩餘到期時間的工具之現行回報率相
credit risk and remaining maturities. 近。
The fair values of interest-bearing bank borrowings with fixed 固定利率的計息銀行借款的公平值乃透
interest rate have been calculated by discounting the expected 過使用具有類似條款、信貸風險及剩餘
future cash flows using rates currently available for instruments 到期時間的工具按目前適用之比率貼現
with similar terms, credit risk and remaining maturities. The 預期未來現金流量計算。本集團本身於
Group’s own non-performance risk for interest-bearing bank 二零二三年六月三十日及二零二二年十
borrowings as at 30 June 2023 and 31 December 2022 was 二月三十一日的計息銀行借款的不履約
assessed to be insignificant. 風險被評定為並不重大。
Fair value hierarchy 公平值層級
The following tables illustrate the fair value measurement 下表顯示本集團金融工具的公平值計量
hierarchy of the Group’s financial instruments: 層級:
Financial assets measured at fair value 按公平值計量的金融資產
Fair value measurement categorised into
分類為以下層級之公平值計量
Level 1 Level 2 Level 3 Total
第1級 第2級 第3級 總計
US$’000 US$’000 US$’000 US$’000
千美元 千美元 千美元 千美元
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
(未經審核) (未經審核) (未經審核) (未經審核)
Equity investments designated 指定為按公平值計入
at fair value through other 其他全面收益的
comprehensive income 股本投資 2,040 – 149,772 151,812
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
Financial Instruments (Continued) 級(續)
Fair value hierarchy (continued) 公平值層級(續)
Financial assets measured at fair value (continued) 按公平值計量的金融資產(續)
Fair value measurement categorised into
分類為以下層級之公平值計量
Level 1 Level 2 Level 3 Total
第1級 第2級 第3級 總計
(US$’000) (US$’000) (US$’000) (US$’000)
(千美元) (千美元) (千美元) (千美元)
(Audited) (Audited) (Audited) (Audited)
(經審核) (經審核) (經審核) (經審核)
Equity investments designated 指定為按公平值計入
at fair value through other 其他全面收益的
comprehensive income 股本投資 2,442 – 176,190 178,632
During the period, there were no transfers of fair value 於期內,金融資產及金融負債的第1級與
measurements between Level 1 and Level 2 and no transfers 第2級間並無公平值計量轉移,且第3級
into or out of Level 3 for both financial assets and financial 並無轉入或轉出(截至二零二二年六月三
liabilities (six months ended 30 June 2022: Nil). 十日止六個月:無)。
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
Financial Instruments (Continued) 級(續)
Fair value hierarchy (continued) 公平值層級(續)
The recurring fair value measurement for the Group’s 本集團指定為按公平值計入其他全面收
equity investments designated at fair value through other 益的股本投資及按公平值計入損益的金
comprehensive income and financial assets at fair value 融資產的週期公平值計量乃使用二零二
through profit or loss, was made using significant unobservable 三年六月三十日的重大不可觀察輸入數
inputs (Level 3) as at 30 June 2023. Below is a summary of the 據(第3 級)作出。下表為估值所用估值
valuation techniques used and the key inputs to the valuation: 技術及主要輸入數據概要:
Valuation Significant Sensitivity of fair value to
technique unobservable input Range the input
重大不可觀察 公平值對輸入數據之
估值技術 輸入數據 範圍 敏感度
Unlisted equity investment A Valuation Average P/B multiple of 2023:1.3x-2.1x 5%(2022: 5%) increase/
multiples peers 2022: 1.0x-2.6x decrease would result in
increase/decrease in fair
value by 5%(2022: 5%)
未上市股本投資A 估值倍數 同業平均市賬率 二零二三年:1.3x-2.1x 5%(二零二二年:5%)的增加╱
二零二二年:1.0x-2.6x 減少將導致公平值增加╱
減少5%(二零二二年:5%)
Discount for illiquidity 2023:20%-30% 5%(2022: 5%) increase/
decrease/increase in fair
value by 5%(2022: 5%)
缺乏流通性的折讓價 二零二三年:20%-30% 5%(二零二二年:5%)的增加╱
二零二二年:20%-30% 減少將導致公平值減少╱
增加5%(二零二二年:5%)
Unlisted equity investment B Valuation Average P/S multiple of 2023:4.8x-12.9x 5% increase/decrease would
multiples peers 2022:4.0x-10.9x result in increase/decrease in
fair value by 5%
未上市股本投資B 估值倍數 同業平均市銷率 二零二三年:4.8x-12.9x 5%的增加╱減少將導致公平值
二零二二年:4.0x-10.9x 增加╱減少5%
Discount for illiquidity 2023:34% 5% increase/decrease would
fair value by 5%
缺乏流通性的折讓價 二零二三年:34% 5%的增加╱減少將導致公平值
二零二二年:34% 減少╱增加5%
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
Financial Instruments (Continued) 級(續)
Fair value hierarchy (continued) 公平值層級(續)
The movements in financial assets categorised into Level 3 期內分類為第3級的金融資產變動如下:
during the period are as follows:
Equity investments
designated at fair
value through other
comprehensive
income
指定為按
公平值計入
其他全面收益的
股本投資
(US$’000)
(千美元)
Total loss recognised in other comprehensive income 於其他全面收益確認的虧損總額 (20,250)
Exchange realignment 匯兌調整 (6,168)
As at 30 June 2023 (unaudited) 於二零二三年六月三十日(未經審核) 149,772
Transfer to level 3 轉入第3級 2,236
Total loss recognised in other comprehensive income 於其他全面收益確認的虧損總額 (25,116)
Exchange realignment 匯兌調整 (11,600)
As at 30 June 2022 (unaudited) 於二零二二年六月三十日(未經審核) 221,072
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註
二零二三年六月三十日
The Company operates a share option scheme (the “Scheme”) 本 公 司 設 有 一 項 購 股 權 計 劃(「 該 計
for the purpose of providing incentives and rewards to eligible 劃」),旨在為對本集團順利發展有所貢
participants who contribute to the success of the Group’s 獻之符合資格參與者提供激勵及獎勵。
operations.
The Scheme includes two batches, each of which were 該計劃分為兩批,各自分別於二零一五
effective on 4 September 2015 (the “2015 Options”) and on 24 年九月四日(「二零一五年購股權」)及二
December 2018 (the “2018 Options”), respectively. 零一八年十二月二十四日(「二零一八年
購股權」)生效。
On 29 March 2019, 500,000 options were granted to the chief 於二零一九年三月二十九日,500,000
executive (“2018 Tranche A”). On 23 December 2019, 300,000 份購股權已授予最高行政人員(「二零一
options were granted to directors and key management 八年A部分」)。於二零一九年十二月二
personnel (“2018 Tranche B”) and 2,182,000 options were 十三日,300,000 份購股權已授予董事
granted to other employees (“2018 Tranche C”). 及主要管理人員(「二零一八年B部分」)
及2,182,000 份購股權已授予其他僱員
(「二零一八年C部分」)。
The following share options were outstanding under the 2015 以下購股權於期內尚未根據二零一五年
Options during the period: 購股權行使:
Number of options
購股權數目
二零二三年 二零二二年
(’000) (’000)
(千份) (千份)
At 1 January 於一月一日 – 4,738
Exercised during the period 期內行使 – (195)
At 30 June 於六月三十日 – 4,543
The following share options were outstanding under the 2018 以下購股權於期內尚未根據二零一八年
Options during the period: 購股權行使:
Number of options
購股權數目
二零二三年 二零二二年
(’000) (’000)
(千份) (千份)
At 1 January 於一月一日 23,438 24,963
Exercised during the period 期內行使 (1,310) (426)
Forfeited during the period 期內沒收 (13) (226)
At 30 June 於六月三十日 22,115 24,311
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註 30 June 2023
二零二三年六月三十日
On August 7, 2023, the Company became listed on the 於二零二三年八月七日,本公司在上交
STAR Market of the Shanghai Stock Exchange. By way of the 所科創板掛牌上市。通過股份發行,本
share issue, 407,750,000 ordinary shares of the Company 公司407,750,000股普通股獲認購,募集
were subscribed with gross proceeds of RMB21,203 million 資金總額為人民幣21,203百萬元(相當
(equivalent to US$2,974 million). After deducting issuance 於2,974百萬美元)。扣除發行費用(包
costs including underwriting fees and other issuance costs, the 括承銷費和其他發行費用)後,募集資
net proceeds were RMB20,921 million (equivalent to US$2,934 金淨額為人民幣20,921百萬元(相當於
million), which resulted in an increase of RMB20,921 million 2,934百萬美元),致使普通股股本增加
(equivalent to US$2,934 million) in the share capital of ordinary 人民幣20,921百萬元(相當於2,934百萬
shares. 美元)。
Consolidated Financial Information
The interim condensed consolidated financial information was 中期簡明綜合財務資料已於二零二三年
approved and authorized for issue by the board of directors on 八月二十九日獲董事會批准及授權刊發。
OTHER DISCLOSURES
其他披露資料
二零二三年六月三十日
SHARE OPTION SCHEME 購股權計劃
The Company adopted a share option scheme on 本公司於二零一五年九月一日採納一項購股權計劃,由二
September 2015. The share option scheme shall be 年內有效。因此,其已於二零二二年九月一日屆滿。自該
valid and effective for a period of 7 years commencing 日起,不得根據購股權計劃進一步授出購股權,且概無授
on the date of adoption. It has therefore expired 出購股權。於二零二三年六月三十日,本公司於購股權計
on 1 September 2022. No further options could be 劃項下共有22,115,413份未行使購股權,相當於該日期本
granted, and none has been granted, under the Share 公司已發行股份約1.69%。下表載列截至二零二三年六月
Option Scheme from that date. As of 30 June 2023, 三十日止六個月期間根據購股權計劃授予董事及其他承授
the Company had options for 22,115,413 shares 人的尚未行使的購股權的詳情及交易情況:
outstanding under the share option scheme, which
represented approximately 1.69% of the Company’s
issued shares as of that date. The table below sets
out details of outstanding options granted to Directors
and other grantees under the share option scheme
and transactions during the six months ended 30 June
OTHER DISCLOSURES
其他披露資料 30 June 2023
二零二三年六月三十日
Number of share options Name or category of participants
購股權數目 參與者姓名或類別
Directors
董事
Mr. Junjun Tang Former directors Other employees In aggregate
唐均君先生 已離任董事 其他僱員 總數
Granted on 4 September 2015 – 988,000 – 29,262,000 – – 30,250,000
於二零一五年九月四日授出
Granted on 24 December 2018 – – 680,000 – 33,820,000 – 34,500,000
於二零一八年十二月二十四日授出
Granted on 29 March 2019 500,000 – – – – – 500,000
於二零一九年三月二十九日授出
Granted on 23 December 2019 – – – – – 2,482,000 2,482,000
於二零一九年十二月二十三日授出
Cancelled/lapsed during the year 2015 – – – -130,000 – – -130,000
於二零一五年註銷╱失效
Cancelled/lapsed during the year 2016 – – – -1,458,000 – – -1,458,000
於二零一六年註銷╱失效
Cancelled/lapsed during the year 2017 – – – -1,353,399 – – -1,353,399
於二零一七年註銷╱失效
Cancelled/lapsed during the year 2018 – – – -754,595 – – -754,595
於二零一八年註銷╱失效
Cancelled/lapsed during the year 2019 – – -600,000 -58,000 -1,035,000 -36,000 -1,729,000
於二零一九年註銷╱失效
Cancelled/lapsed during the year 2020 – -119,000 -80,000 – -993,904 -84,000 -1,276,904
於二零二零年註銷╱失效
Cancelled/lapsed during the year 2021 -62,500 – – – -5,751,868 -592,993 -6,407,361
於二零二一年註銷╱失效
Cancelled/lapsed during the year 2022 – – – – -543,728 -73,983 -617,711
於二零二二年註銷╱失效
Exercised during the period – – – – 1,230,166 80,125 1,310,291
期內行使
Cancelled during the period – – – – – -5,000 -5,000
期內註銷
Lapsed during the period – – – – -8,167 – -8,167
期內失效
Outstanding as at 1 January 2023 437,500 – – – 21,389,723 1,611,648 23,438,871
於二零二三年一月一日尚未行使
Outstanding as at 30 June 2023 437,500 – – – 20,151,390 1,526,523 22,115,413
於二零二三年六月三十日尚未行使
Vesting period of share options Note 1 Note 2 Note 3 Note 2 Note 3 Note 4
購股權之歸屬期 附註1 附註2 附註3 附註2 附註3 附註4
Exercise period of share options Note 5 Note 6 Note 7 Note 6 Note 7 Note 8
購股權之行使期 附註5 附註6 附註7 附註6 附註7 附註8
Exercise price of share options HK$18.400 HK$6.912 HK$15.056 HK$6.912 HK$15.056 HK$17.952
購股權之行使價 18.400港元 6.912港元 15.056港元 6.912港元 15.056港元 17.952港元
Weighted average closing price of
the shares immediately before the
dates on which the share options
were exercised HK$31.86 HK$32.18
股份於緊接購股權獲行使日期之前的
加權平均收市價 31.86港元 32.18港元
OTHER DISCLOSURES
其他披露資料
二零二三年六月三十日
Note 1 Subject to conditions as set out in the grant notice, 附註1 在符合授予通知中規定的條件的前提下,期權的四分之
one fourth of the options shall vest on each of 23 一分別於二零二一年十二月二十三日、二零二二年八月
December 2021, 12 August 2022, 11 August 2023 十二日、二零二三年八月十一日及二零二四年三月二十
and 29 March 2024 九日歸屬
Note 2 Subject to conditions as set out in the grant 附註2 在符合授予通知中規定的條件的前提下,期權的三分之
notices, one third of the options shall vest on each 一分別於二零一七年九月四日、二零一八年九月四日及
of 4 September 2017, 4 September 2018 and 4 二零一九年九月四日歸屬
September 2019
Note 3 Subject to conditions as set out in the grant notices, 附註3 在符合授予通知中規定的條件的前提下,就副總裁或以
for employees at or above the level of the vice 上級別的僱員而言,期權的四分之一分別於二零二零年
president, one fourth of the options shall vest on 十二月二十四日、二零二一年十二月二十四日、二零
each of 24 December 2020, 24 December 2021, 二二年十二月二十四日及二零二三年十二月二十四日歸
other employees, one third of the options shall vest 十二月二十四日、二零二一年十二月二十四日及二零二
on each of 24 December 2020, 24 December 2021 二年十二月二十四日歸屬
and 24 December 2022
Note 4 Subject to conditions as set out in the grant notices, 附註4 在符合授予通知中規定的條件的前提下,就副總裁或以
for employees at or above the level of the vice 上級別的僱員而言,期權的四分之一分別於二零二一年
president, one fourth of the options shall vest on 十二月二十三日、二零二二年十二月二十三日、二零
each of 23 December 2021, 23 December 2022, 二三年十二月二十三日及二零二四年十二月二十三日歸
other employees, one third of the options shall vest 十二月二十三日、二零二二年十二月二十三日及二零二
on each of 23 December 2021, 23 December 2022 三年十二月二十三日歸屬
and 23 December 2023
Note 5 The exercise period of share options is from 29 附註5 購股權之行使期為二零二一年三月二十九日至二零二六
March 2021 to 28 March 2026 年三月二十八日
Note 6 The exercise period of share options is from 4 附註6 購股權之行使期為二零一七年九月四日至二零二二年九
September 2017 to 3 September 2022 月三日
Note 7 The exercise period of share options is from 24 附註7 購股權之行使期為二零二零年十二月二十四日至二零二
December 2020 to 23 December 2025 五年十二月二十三日
Note 8 The exercise period of share options is from 23 附註8 購股權之行使期為二零二一年十二月二十三日至二零二
December 2021 to 22 December 2026 六年十二月二十二日
Please refer to note 16 of the Notes to the Interim 進一步詳情請參閱中期簡明綜合財務資料附註的附註16。
Condensed Consolidated Financial Information for
further details.
OTHER DISCLOSURES
其他披露資料 30 June 2023
二零二三年六月三十日
DIRECTORS’ AND CHIEF EXECUTIVE’S 董事及最高行政人員於本公司股份及相關
INTERESTS IN SHARES AND 股份的權益
UNDERLYING SHARES OF THE
COMPANY
As of 30 June 2023, except as disclosed below, none 於二零二三年六月三十日,除下文披露者外,概無本公司
of the Directors nor the Chief Executive of the Company 董事及最高行政人員於本公司或任何相聯法團(定義見證
had any interests and short positions in the shares, 券及期貨條例第XV部)的股份、相關股份或債權證中擁有
underlying shares or debentures of the Company or any 載入根據證券及期貨條例第352條須予存置的登記冊內的
associated corporation (within the meaning of Part XV 任何權益及淡倉,或按照標準守則須知會本公司及香港聯
of SFO), as recorded in the register kept under section 交所的任何權益及淡倉。
and the Hong Kong Stock Exchange pursuant to the
Model Code.
Number of
underlying shares Approximate
held in percentage of
Name of Director Capacity long position (1) interests
以好倉持有的
董事姓名 身份 相關股份數目(1) 概約權益百分比
Mr. Junjun Tang Beneficial owner
唐均君先生 實益擁有人 437,500 0.03%
Note: 附註:
(1) Long position in the underlying shares of the Company (1) 按購股權計劃授出的購股權項下於本公司相關股份的好
under share options granted pursuant to the Share 倉。有關二零二三年一月一日及二零二三年六月三十日的
Option Scheme. Please refer to page 62 for particulars 尚未行使的購股權的詳情,請參閱第62頁。
of outstanding options as of 1 January 2023 and 30 June
OTHER DISCLOSURES
其他披露資料
二零二三年六月三十日
SUBSTANTIAL SHAREHOLDERS’ 主要股東及其他人士於本公司股份和相關
AND OTHER PERSONS’ OWNERSHIP 股份的權益
IN THE SHARES AND UNDERLYING
SHARES OF THE COMPANY
As of 30 June 2023, persons other than a Director or 於二零二三年六月三十日,除本公司董事或最高行政人員
Chief Executive of the Company, having ownership 外,於本集團股份及相關股份中擁有5%或以上權益或淡
of 5% or more or short positions in the shares and 倉的人士如下:
underlying shares of the Group, were as follows:
Approximate
percentage of
aggregate
ownership
Capacity and Number of in issued share
Substantial shareholders nature of ownership shares held capital*
佔已發行股本
權益總額的
主要股東 身份及權益性質 持有股份數目 概約百分比*
Shanghai Hua Hong International, Inc. Legal and beneficial owner 347,605,650(1) 26.57%
(Hua Hong International) (2)
上海華虹國際有限公司(華虹國際)(2) 法定及實益擁有人
Shanghai Huahong (Group) Co., Ltd. Interest in a controlled corporation 347,605,650(1) 26.57%
(Huahong Group) (2)
上海華虹(集團)有限公司(華虹集團)(2) 受控制法團權益
Sino-Alliance International, Ltd. Legal and beneficial owner 160,545,541(1)(3) 12.27%
(Sino-Alliance International)
法定及實益擁有人
Sino-Alliance International, Ltd. Interest in a controlled corporation 28,415,606(1) 2.17%
(Sino-Alliance International)
受控制法團權益
Shanghai Alliance Investment Ltd. (SAIL) Interest in a controlled corporation 188,961,147(1)(4) 14.44%
上海聯和投資有限公司(上海聯和) 受控制法團權益
Xinxin (Hongkong) Capital Co., Limited Legal and beneficial owner 178,705,925(1) 13.66%
鑫芯(香港)投資有限公司 法定及實益擁有人
Xun Xin (Shanghai) Investment Co., Ltd. Interest in a controlled corporation 178,705,925(1) 13.66%
巽鑫(上海)投資有限公司 受控制法團權益
China Integrated Circuit Industry Interest in a controlled corporation 178,705,925(1) 13.66%
Investment Fund Co., Ltd.
國家集成電路產業投資基金股份有限公司 受控制法團權益
OTHER DISCLOSURES
其他披露資料 30 June 2023
二零二三年六月三十日
SUBSTANTIAL SHAREHOLDERS’ 主要股東及其他人士於本公司股份和相關
AND OTHER PERSONS’ OWNERSHIP 股份的權益(續)
IN THE SHARES AND UNDERLYING
SHARES OF THE COMPANY
(Continued)
Notes: 附註:
(1) Long positions in the shares of the Company. (1) 於本公司股份中的好倉。
(2) Hua Hong International is a wholly-owned subsidiary of (2) 華虹國際為華虹集團的全資子公司。
Huahong Group.
(3) Including 3,084 shares held in escrow by Sino-Alliance (3) 包括Sino-Alliance International根據一項託管安排,以託管
International pursuant to an escrow arrangement. 方式持有的3,084股股份。
(4) SAIL indirectly held beneficial ownership in the Company (4) 上 海 聯 和 透 過 兩 家 全 資 子 公 司( 包 括 S i n o - A l l i a n c e
through two wholly-owned subsidiaries, including Sino- International)間接持有本公司權益。
Alliance International.
* The percentages are calculated based on the total * 百分比乃按本公司於二零二三年六月三十日已發行的股份
number of issued shares of the Company as of 30 June 總數(即1,308,147,031股股份)計算。
Except as disclosed above, so far as is known to any of 除上文披露者外,就本公司董事及最高行政人員所知,於
the Directors and Chief Executive of the Company, as of 二零二三年六月三十日,概無本公司董事或最高行政人員
beneficial ownership or short positions in any shares or 任何權益或淡倉並已記入根據證券及期貨條例第336條本
underlying shares of the Company which was recorded 公司須予存置的記錄冊內。
in the register required to be kept by the Company
pursuant to section 336 of the SFO.
PURCHASE, SALE OR REDEMPTION 買賣或贖回證券
OF SECURITIES
Neither the Company nor any of its subsidiaries 截至二零二三年六月三十日止六個月期間,本公司或其任
purchased, sold or redeemed any of the Company’s 何子公司概無買賣或贖回本公司任何上市證券。
listed securities during the six months ended 30 June
GEARING RATIO 資產負債比率
The Group monitors capital using a gearing ratio, 本集團以資產負債比率監控資本,資產負債比率按淨負債
which is net debt divided by total equity plus net debt. 除以權益總額加淨負債計算。本集團將貿易應付款項、其
The Group includes, within net debt, trade payables, 他應付款項及暫估費用、計息銀行借款、租賃負債以及應
other payables and accruals, interest-bearing bank 付關聯方款項扣除現金及現金等價物計入淨負債。於二零
borrowings, lease liabilities and amounts due to related 二三年六月三十日,本集團的資產負債比率為9.94%(二
parties, less cash and cash equivalents. The Group’s 零二二年十二月三十一日:11.94%)。
gearing ratio as at 30 June 2023 was 9.94% (31
December 2022: 11.94%).
OTHER DISCLOSURES
其他披露資料
二零二三年六月三十日
PERFORMANCE OF THE EQUITY 股權投資之表現
INVESTMENTS
The table below sets out the breakdown of the 下表載列截至二零二三年六月三十日止六個月期間有關股
performance in respect of the equity investments during 權投資之表現詳情。
the six-month period ended 30 June 2023.
Shanghai Shanghai
Huali QST Awinic
上海華力 矽睿科技 上海艾為
(USD’000) (USD’000) (USD’000)
(千美元) (千美元) (千美元)
Initial investment cost 229,133 1,704 2,120
初始投資成本
Book value at the beginning of the period 174,170 2,020 2,442
於期初之賬面值
Purchases – – –
購買
Redemption – – –
贖回
Changes in fair value (20,173) (77) (298)
公平值變動
Exchange realignment (6,096) (72) (104)
匯兌調整
Book value at the end of the period 147,901 1,871 2,040
於期末之賬面值
Subscribed capital contribution/number of shares held RMB
認購出資額╱持有股數 人民幣
Percentage of equity interest held 6.3428% 0.6220% 0.1072%
所持股權百分比
Size compared to the total assets 2.1% 0.0% 0.0%
與資產總值比較之規模
During the six-month period ended 30 June 2023, the 截至二零二三年六月三十日止六個月期間,本集團並未出
Group did not dispose of any equity interest in Shanghai 售於上海華力、矽睿科技或上海艾為之任何股權。本公司
Huali, QST or Shanghai Awinic. Change in the fair value 於上海華力、矽睿科技及上海艾為的股權投資之公平值變
of the Company’s equity investment in Shanghai Huali, 動分別為負20,173,000美元、負77,000美元及負298,000
QST, and Shanghai Awinic were minus US$20,173,000, 美元。
minus US$77,000, and minus US$298,000 respectively.
OTHER DISCLOSURES
其他披露資料 30 June 2023
二零二三年六月三十日
PERFORMANCE OF THE EQUITY 股權投資之表現(續)
INVESTMENTS (Continued)
Shanghai Huali was established in 2010. As an 上海華力起步於二零一零年。作為行業內領先的集成電路
industry-leading IC wafer foundry company, Shanghai 晶圓製造企業,上海華力擁有先進的工藝制程和完備的解
Huali has advanced process technologies and offers 決方案,專注於為設計公司、IDM公司及其他系統公司提
comprehensive solutions. It is devoted to providing 供65/55納米至28/22納米不同技術節點的一站式晶圓製造
one-stop wafer foundry technical services for 技術服務。上海華力在中國有兩座12英寸全自動晶圓工
process technology nodes from 65/55nm to 28/22nm 廠。
for design companies, IDM companies, and other
system companies. Shanghai Huali has two 12-inch
fully-automated wafer fabs in China.
During the six-month period ended 30 June 2023, the 截至二零二三年六月三十日止六個月期間,本公司的股
book value of the Company’s equity investment has 權投資賬面值減少 26,269,000 美元,包括公平值減少
decreased by US$26,269,000, including a decrease of 20,173,000 美元及外幣報表虧損約6,096,000 美元。因
US$20,173,000 in the fair value and a foreign currency 此,董事會認為,上海華力於截至二零二三年六月三十日
statement loss of around US$6,096,000. Accordingly, 止六個月期間之表現符合預期。
the Board is of the view that the performance of
Shanghai Huali during the six-month period ended 30
June 2023, has been in line with its expectations.
QST was founded in September 2012 and has a 矽睿科技成立於二零一二年九月,具有全面的知識產權組
robust IP portfolio, with over 83 patents issued. QST 合,擁有逾83項授權專利。矽睿科技為一家領先的傳感器
is a leading sensor platform company engaged in 平台公司,致力於創新型MEMS傳感器及解決方案的開發
the development and marketing of Innovative MEMS 及營銷,以簡化先進感知、測量及於消費者、汽車的控制
sensors and solutions to simplify advanced perception, 及工業應用。
measurement, and control in consumer, automotive,
and industrial applications.
During the six-month period ended 30 June 2023, the 截至二零二三年六月三十日止六個月期間,本公司於矽睿
book value of the Company’s equity investment in QST 科技的股權投資賬面值減少149,000美元,主要由於公平
decreased by US$149,000, mainly due to a decrease 值減少77,000美元及外幣報表虧損減少72,000美元。由
of US$77,000 in the fair value and a decrease of 於矽睿科技業務仍處於早期發展階段,董事會認為矽睿科
US$72,000 in a foreign currency statement loss. As the 技於截至二零二三年六月三十日止六個月期間的業績表現
business of QST is still in its early development stage, 及戰略規劃符合預期。
the Board is of the view that the performance and
strategic planning of QST during the six-month period
ended 30 June 2023 have been consistent with its
expectations.
Shanghai Awinic, founded in June 2008, is a 上海艾為創立於二零零八年六月,為一家專注於為手機、
high-tech company focusing on high-quality and 人工智能、物聯網、汽車電子、可穿戴和消費類電子提供
high-performance IC design of mixed signal, analog, 高品質及高性能的數模混合、模擬、射頻IC設計的高科技
and RF for mobile phone, AI, Internet of Things, 公司。上海艾為是上交所科創板上市公司。
automotive electronics, wearables, and consumer
electronics. Shanghai Awinic is a listed company on the
STAR Market of the Shanghai Stock Exchange.
OTHER DISCLOSURES
其他披露資料
二零二三年六月三十日
PERFORMANCE OF THE EQUITY 股權投資之表現(續)
INVESTMENTS (Continued)
During the six-month period ended 30 June 2023, 截至二零二三年六月三十日止六個月期間,本公司於上海
the book value of the Company’s equity investment in 艾為的股權投資賬面值減少402,000美元,包括公平值減
Shanghai Awinic decreased by US$402,000, including 少298,000美元及外幣報表虧損約104,000美元。董事會
a decrease of US$298,000 of fair value and a foreign 將其於上海艾為的投資視為長期戰略投資的一部分,本
currency statement loss of around US$104,000. The 集團將與上海艾為在模擬、BCD(包括12英寸90納米)、
Board considers its investment in Shanghai Awinic eFlash、功率器件、射頻和IC技術開發、擴大產能等領域
as part of a long-term strategic investment, which will 合作,以期為客戶提供更具競爭力、更高性能和質量的產
see the Group and Shanghai Awinic collaborate in 品。董事會認為上海艾為截至二零二三年六月三十日止六
areas such as development of Analog, BCD (including 個月期間的業績表現符合預期。
technologies, and expansion of production capacity,
with a view to providing more competitive products
with higher performance and quality to customers. The
Board is of the view that the performance of Shanghai
Awinic during the during the six-month period ended 30
June 2023 has been in line with its expectation.
The Company confirms that it has complied with the 本公司確認,其已遵守本公司截至二零二三年六月三十日
accounting policy of investments and other financial 止六個月期間的中報所載的投資及其他金融資產之會計政
assets (policies under HKFRS 9, applicable since 1 策(自二零一八年一月一日起適用的香港財務報告準則第9
January 2018) as contained in the interim report of the 號項下的政策)。
Company for the six-month period ended 30 June 2023.
OTHER DISCLOSURES
其他披露資料 30 June 2023
二零二三年六月三十日
EMPLOYEES AND REMUNERATION 僱員及薪酬政策
POLICIES
As of 30 June 2023, the Company had approximately 於二零二三年六月三十日,本公司於中國及海外擁有約
June 2022: approximately 6,300). The Company’s 公司定期審視薪酬政策,該政策乃參考市場競爭性分析、
remuneration policy is reviewed periodically and 公司業績表現及員工勝任技能與工作績效釐定。員工福利
determined by reference to the analysis on market 包括醫療計劃、強制性社會保險及公積金等。
competitiveness, company performance, and individual
qualifications and performance. Staff benefits include
medical schemes, mandatory social insurance and
provident fund etc.
COMPLIANCE WITH THE DEED OF 遵守不競爭契據及優先購買權契據
NON-COMPETITION AND DEED OF
RIGHT OF FIRST REFUSAL
Huahong Group, SAIL and INESA, being controlling 華虹集團、上海聯和及儀電集團(作為本公司當時的控股
shareholders of the Company at the time, entered 股東)訂立了日期為二零一四年九月二十三日的不競爭契
into a deed of non-competition (the “Deed of Non- 據(「不競爭契據」),詳情載於日期為二零一四年十月三日
competition”) dated 23 September 2014, details of 的本公司招股章程(「招股章程」)「與控股股東的關係」一節
which have been set out in the paragraph headed 中「不競爭承諾」一段。另外,華虹集團和上海聯和訂立了
“Non-competition Undertaking” in the section headed 日期為二零一四年六月十日的優先購買權契據(「優先購買
“Relationship with Controlling Shareholders” of the 權契據」),詳情載於招股章程「與控股股東的關係」一節中
Company’s prospectus dated 3 October 2014 (the 「優先購買權」一段。
“Prospectus”). In addition, Huahong Group and
SAIL entered into a deed of right of first refusal (the
“Deed of Right of First Refusal”) dated 10 June 2014,
details of which have been set out in the paragraph
headed “Right of First Refusal” in the section headed
“Relationship with Controlling Shareholders” of the
Prospectus.
As of 30 June 2023, the Company has reviewed the 本公司截至二零二三年六月三十日止已覆核華虹集團、上
written declaration from each of Huahong Group, SAIL 海聯和及儀電集團有關他們遵守不競爭契據及優先購買權
and INESA on their compliance with their commitments 契據(視情況而定)內承諾的書面聲明。獨立非執行董事已
under the Deed of Non-competition and the Deed 覆核遵守情況,並確認不競爭契據及優先購買權契據(視
of Right of First Refusal (as the case may be). The 情況而定)下的全部承諾均獲有關訂約方遵守。
Independent Non-Executive Directors have reviewed
the status of compliance and confirmed that all the
commitments under the Deed of Non-competition and
the Deed of Right of First Refusal (as the case may be)
have been complied with by the relevant parties.
OTHER DISCLOSURES
其他披露資料
二零二三年六月三十日
CORPORATE GOVERNANCE 企業管治
The Company is committed to maintaining a high 本公司致力保持企業管治在高水平,以保障股東權益及提
standard of corporate governance with a view to 升企業價值及問責性。
safeguarding the interests of its shareholders and
enhancing corporate value and accountability.
The Board is of the view that the Company has 董事會認為,本公司截至二零二三年六月三十日止六個月
complied with the code provisions set out in the 期間一直遵守上市規則附錄十四所載的企業管治守則內的
Corporate Governance Code as contained in Appendix 守則條文。
June 2023.
CODE OF CONDUCT FOR SECURITIES 董事進行證券交易之行為守則
TRANSACTIONS BY DIRECTORS
The Company has adopted a code of conduct 本公司已採納董事進行證券交易之行為守則,其有關條款
regarding the Directors’ securities transactions on terms 不低於標準守則所規定的標準。本公司已向所有董事作特
no less exacting than the required standard set out in 定查詢,每位董事均已確認其截至二零二三年六月三十日
the Model Code. Having made specific enquiries of all 止六個月期間遵守標準守則所載的必守標準。
Directors, the Company has received their confirmation
that they have complied with the required standard as
set forth in the Model Code throughout the six months
ended 30 June 2023.
AUDIT COMMITTEE 審核委員會
The Audit Committee, comprising one Non-executive 由本公司一位非執行董事及兩位獨立非執行董事組成之審
Director and two Independent Non-executive Directors 核委員會已審閱及批准本集團截至二零二三年六月三十日
of the Company, has reviewed and approved the 止六個月的未經審核業績,並已與管理層就本集團採納的
unaudited results of the Group for the six months ended 會計政策及常規、內部監控及財務報告相關事宜進行討
accounting principles and practices adopted by the
Group, internal controls and financial reporting matters.
OTHER DISCLOSURES
其他披露資料 30 June 2023
二零二三年六月三十日
PUBLICATION OF INTERIM REPORT 於香港聯交所及本公司網站刊發中期報告
ON THE WEBSITES OF THE HONG
KONG STOCK EXCHANGE AND THE
COMPANY
The interim report for the six months ended 30 June 載有上市規則附錄十六所規定資料的截至二零二三年六
of the Listing Rules will be dispatched to shareholders 東及於香港聯交所網站(www.hkexnews.hk)和本公司網站
and published on the websites of the Hong Kong Stock (www.huahonggrace.com)刊載。
Exchange (www.hkexnews.hk) and the Company (www.
huahonggrace.com) in due course.
By Order of the Board 承董事會命
Hua Hong Semiconductor Limited 華虹半導體有限公司
Mr. Suxin Zhang 張素心先生
Chairman and Executive Director 主席兼執行董事
HUA HONG SEMICONDUCTOR LIMITED
華虹半導體有限公司