华虹公司: 港股公告:2024中期报告

证券之星 2024-09-05 21:16:19
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 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: 01347)
(股份代號:01347)
                                                      中   期   報   告
                                                                                         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;
“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;
“Hua Hong Manufacturing”           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 and held as to 51%
                                   by the Group;
“HK$”                              Hong Kong dollars, the lawful currency of Hong Kong;
“Hong Kong”                        the Hong Kong Special Administrative Region of the PRC;
“Hong Kong Stock Exchange”         The Stock Exchange of Hong Kong Limited;
“IC”                               Integrated Circuit;
“Independent Non-Executive         the independent non-executive Director(s) of our Company;
   Director(s)”
                                                                                               INTERIM REPORT 2024      1
DEFINITIONS
“Listing Rules”                   the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong
                                  Limited, as amended or supplemented from time to time;
“Model Code”                      the Model Code for Securities Transactions by Directors of Listed Issuers as set out
                                  in Appendix C3 to the Listing Rules;
“Non-Executive Director(s)”       the non-executive Director(s) of our Company;
“RMB”                             Renminbi, the lawful currency of the PRC;
“RMB Share(s)” or “A Share(s)”    the ordinary share(s) of the Company which are listed on the STAR Market and
                                  traded in RMB;
“RMB Share Issue”                 the Company’s issue of 407,750,000 RMB Shares, which have been listed on the
                                  STAR Market since 7 August 2023;
“SFO”                             the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as
                                  amended or supplemented from time to time;
“Shanghai Stock Exchange”         the Shanghai Stock Exchange;
“STAR Market”                     the Science and Technology Innovation Board of the Shanghai Stock Exchange;
“US$”                             US dollars, the lawful currency of USA.
                                      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, PRC
Non-Executive Directors
Jun Ye                                   Principal Banks
Guodong Sun
Limin Zhou                               China Construction Bank Shanghai Branch
Chengyan Xiong                           No. 900, Lujiazui Ring Road
                                         Pudong New Area
Independent Non-Executive Directors      Shanghai, PRC
Stephen Tso Tung Chang
Kwai Huen Wong, JP                       China Development Bank Co., Ltd. Shanghai Branch
Songlin Feng                             No. 68, Puming Road
                                         Pudong New Area
Company Secretary                        Shanghai, PRC
Sui Har Lee
                                         China Merchants Bank Co., Ltd. Shanghai Branch
Authorized Representatives               No.1088 Lujiazui Ring Road
Junjun Tang                              Pudong New Area
Sui Har Lee                              Shanghai, PRC
Audit Committee                          China Construction Bank Corporation Hong Kong
Stephen Tso Tung Chang (Chairman)        Branch
Chengyan Xiong                           28/F, CCB Tower, 3 Connaught Road, Central
Songlin Feng                             Hong Kong, PRC
Remuneration Committee                   Bank of Communications Co., Ltd. Hong Kong Branch
Kwai Huen Wong, JP (Chairman)            20 Pedder Street, Central
Jun Ye                                   Hong Kong, PRC
Songlin Feng
                                         China Development Bank Jiangsu Branch
Nomination Committee                     No. 232, Middle Jiangdong Road
Suxin Zhang (Chairman)                   Nanjing, Jiangsu, PRC
Kwai Huen Wong, JP
Songlin Feng                             Agricultural Bank of China Wuxi Xinwu Subbranch
                                         No. 26, Hefeng Road, Xinwu District
Website                                  Wuxi, Jiangsu, PRC
www.huahonggrace.com                     China Construction Bank Wuxi High and New
                                         Technology Industrial Development Zone Subbranch
Auditor                                  No. 26, Hefeng Road, Xinwu District
                                         Wuxi, Jiangsu, PRC
Ernst & Young
Certified Public Accountants             China CITIC Bank Wuxi New District Subbranch
Hong Kong, PRC
                                                                     INTERIM REPORT 2024     3
CORPORATE INFORMATION
Bank of China Wuxi High and New Technology Industrial   Stock Code
Development Zone Subbranch
No. 140, Wangzhuang Road, Xinwu District                Hong Kong Stock Exchange: 01347
Wuxi, Jiangsu, PRC
                                                        Shanghai Stock Exchange: 688347
Bank of Communications Co., Ltd. Wuxi Branch
No.8, 2nd Financial Street, Binhu District
Wuxi, Jiangsu, PRC
Share Registrar
Hong Kong shares:
Tricor Investor Services Limited
Hong Kong, PRC
A shares:
China Securities Depository and Clearing Corporation
Limited, Shanghai Branch
No. 188 South Yanggao Road
Pudong New Area
Shanghai, PRC
Registered Office
Room 2212, Bank of America Tower
Hong Kong, PRC
Principal Places of Business
Zhangjiang Hi-Tech Park
Shanghai, PRC
Postcode: 201203
No. 30, Xinzhou Road
Xinwu District
Wuxi, Jiangsu, PRC
Postcode: 214028
No.30-1, Xinzhou Road
Xinwu District
Wuxi, Jiangsu, PRC
Postcode: 214028
                                                            KEY FINANCIALS
Revenue                                        Gross profit margin
        US$ million                                   %
Profit attributable to owners of the parent    EPS
        US$ million                                   US$
                                                                      INTERIM REPORT 2024     5
MANAGEMENT DISCUSSION AND ANALYSIS
Financial Performance
                                                               US$’ 000            US$’000
                                                              Unaudited           Unaudited
Revenue                                                          938,510           1,262,223             (25.6)%
Cost of sales                                                   (858,815)           (884,970)             (3.0)%
Gross profit                                                      79,695             377,253             (78.9)%
Other income and gains                                            71,095              50,679               40.3%
Selling and distribution expenses                                 (4,770)             (5,090)             (6.3)%
Administrative expenses                                         (164,078)           (147,839)              11.0%
Other expenses                                                   (13,813)            (46,126)            (70.1)%
Finance costs                                                    (49,432)            (56,700)            (12.8)%
Share of profits of associates                                     2,805               3,504             (19.9)%
(Loss)/profit before tax                                         (78,498)            175,681            (144.7)%
Income tax credit/(expense)                                       11,464             (26,945)           (142.5)%
(Loss)/profit for the period                                     (67,034)            148,736            (145.1)%
Attributable to:
  Owners of the parent                                            38,491            230,758              (83.3)%
  Non-controlling interests                                     (105,525)           (82,022)               28.7%
Revenue
Revenue was US$938.5 million, a decrease of 25.6% compared to 1H 2023, primarily due to decreased average
selling price.
Cost of sales
Cost of sales was US$858.8 million, a decrease of 3.0% compared to 1H 2023, primarily due to decreased labor costs
and reversal of inventories to net realisable value, partially offset by increased depreciation costs.
Gross profit
Gross profit was US$79.7 million, a decrease of 78.9% compared to 1H 2023, primarily due to decreased average
selling price, capacity utilization and increased depreciation costs.
Other income and gains
Other income and gains were US$71.1 million, an increase of 40.3% compared to 1H 2023, primarily due to increased
interest income.
                                        MANAGEMENT DISCUSSION AND ANALYSIS
Selling and distribution expenses
Selling and distribution expenses were US$4.8 million, a decrease of 6.3% compared to 1H 2023, primarily due to
decreased labor expenses.
Administrative expenses
Administrative expenses were US$164.1 million, an increase of 11.0% compared to 1H 2023, primarily due to
increased operating expenses for Hua Hong Manufacturing and engineering wafer costs.
Other expenses
Other expenses were US$13.8 million, a decrease of 70.1% compared to 1H 2023, primarily due to decreased foreign
exchange losses.
Finance costs
Finance costs were US$49.4 million, a decrease of 12.8% compared to 1H 2023, primarily due to decreased interest
rate of bank borrowings.
Share of profits of associates
Share of profits of associates were US$2.8 million, a decrease of 19.9% compared to 1H 2023, due to decreased profit
realized by the associates.
Income tax credit/(expense)
Income tax credit was US$11.5 million, compared to income tax expenses of US$26.9 million in 1H 2023, primarily due
to decreased taxable profit.
(Loss)/profit for the period
As a result of the cumulative effect of the above factors, loss for the period was US$67.0 million, compared to profit for
the period of US$148.7 million in 1H 2023.
                                                                                               INTERIM REPORT 2024      7
MANAGEMENT DISCUSSION AND ANALYSIS
Financial Status
                                               US$’ 000       US$’000
                                              Unaudited        Audited
Non-current assets
Property, plant and equipment                 3,750,176      3,519,292      6.6%
Investment property                             165,611        166,643    (0.6)%
Right-of-use assets                              80,629         78,545      2.7%
Investment in associates                        141,036        139,099      1.4%
Equity instruments designated at fair value
   through other comprehensive income           285,938        270,506      5.7%
Other non-current assets                        182,374        199,780    (8.7)%
Total non-current assets                      4,605,764      4,373,865      5.3%
Current assets
Inventories                                     462,563        449,749      2.8%
Trade and notes receivables                     274,382        278,669    (1.5)%
Due from related parties                         16,034         11,219    42.9%
Other current assets                            282,912        212,649    33.0%
Pledged deposits                                 39,259         32,088    22.3%
Cash and cash equivalents                     6,423,866      5,585,181    15.0%
Total current assets                          7,499,016      6,569,555    14.1%
Current liabilities
Trade payables                                  246,206        235,410      4.6%
Interest-bearing bank borrowings                247,034        193,035     28.0%
Due to related parties                            8,340         13,876   (39.9)%
Government grants                                39,359         35,017     12.4%
Other current liabilities                       529,657        495,049      7.0%
Total current liabilities                     1,070,596        972,387     10.1%
Net current assets                            6,428,420      5,597,168     14.9%
Non-current liabilities
Interest-bearing bank borrowings              1,964,956      1,906,526     3.1 %
Lease liabilities                                19,440         19,129     1.6 %
Deferred tax liabilities                          4,892         30,834   (84.1)%
Total non-current liabilities                 1,989,288      1,956,489     1.7 %
Net assets                                    9,044,896      8,014,544    12.9 %
                                      MANAGEMENT DISCUSSION AND ANALYSIS
Explanation of items with fluctuation over 10% from 31 December 2023 to 30 June 2024
Due from related parties
Due from related parties increased from US$11.2 million to US$16.0 million, primarily due to increased rental
receivables from one of our related parties.
Other current assets
Other current assets increased from US$212.6 million to US$282.9 million, primarily due to increased value-added tax
credit.
Pledged deposits
Pledged deposits increased from US$32.1 million to US$39.3 million, primarily due to increased deposits for the
portion of dividend not paid yet on 30 June 2024.
Cash and cash equivalents
Cash and cash equivalents increased from US$5,585.2 million to US$6,423.9 million, mainly due to reasons stated in
the cash flow analysis below.
Due to related parties
Due to related parties decreased from US$13.9 million to US$8.3 million, primarily due to a payment of technology
purchased in the period.
Government grants
Government grants increased from US$35.0 million to US$39.4 million, primarily due to receipts from government for
research and development projects.
Interest-bearing bank borrowings
Total interest-bearing bank borrowings increased from US$2,099.6 million to US$2,212.0 million, due to increased
drawdowns of bank borrowings.
Deferred tax liabilities
Deferred tax liabilities decreased from US$30.8 million to US$4.9 million, primarily due to a reversal of dividend
withholding tax accrued for 2023.
                                                                                          INTERIM REPORT 2024     9
MANAGEMENT DISCUSSION AND ANALYSIS
Cash Flow
                                                                 US$’ 000              US$’000
                                                                Unaudited             Unaudited
Net cash flows generated from operating activities                 137,550              293,058              (53.1)%
Net cash flows used in investing activities                       (470,924)            (353,930)              33.1 %
Net cash flows generated from/(used in)
  financing activities                                           1,206,061               (36,934)         (3,365.4)%
Net increase/(decrease) in cash and
  cash equivalents                                                 872,687              (97,806)            (992.3)%
Cash and cash equivalents at beginning of the period             5,585,181            2,008,765              178.0 %
Effect of foreign exchange rate changes, net                       (34,002)             (60,002)             (43.3)%
Cash and cash equivalents at end of the period                   6,423,866            1,850,957              247.1 %
Net cash flows generated from operating activities
Net cash flows generated from operating activities decreased from US$293.1 million to US$137.6 million, primarily due
to decreased revenue.
Net cash flows used in investing activities
Net cash flows used in investing activities were US$470.9 million, primarily including US$499.4 million for capital
investments and US$17.6 million for an equity instrument, partially offset by US$46.0 million of interest income and
US$0.1 million for disposal of items of property, plant and equipment.
Net cash flows generated from financing activities
Net cash flows generated from financing activities were US$1,206.1 million, including (i) US$1,181.9 million of capital
contribution from non-controlling interests, (ii) US$202.4 million of proceeds from bank borrowings, and (iii) US$0.7
million from share option exercises, partially offset by (i) US$87.5 million of repayments of bank borrowings, (ii)
US$52.0 million of interest payments, (iii) dividend payments of US$28.9 million and (iv) US$3.2 million payment of
principal portion of lease payments.
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 2024, the Group had cash and bank balances of approximately US$6,423.9 million (of which approximately
US$5,716.8 million were denominated in RMB and approximately US$700.0 million in US dollars), representing an
increase of US$838.7 million as compared to US$5,585.2 million at the end of 2023.
Liquidity
To meet liquidity requirements in the short and long term, our policy is to monitor regularly the current and expected
liquidity requirements to ensure that we maintain sufficient reserves of cash and adequate committed lines of funding
from major financial institutions.
                                       MANAGEMENT DISCUSSION AND ANALYSIS
Capital Management
Our primary objectives of capital management are to safeguard our ability to continue as a going concern and to
maintain healthy capital ratios to support our business and maximize shareholders’ value. We manage our capital
structure and make adjustments in light of the changes in economic conditions. To do this, we may adjust the dividend
payment to shareholders, return capital to shareholders, or issue new shares. We are not subject to any externally
imposed capital requirements. No changes were made in the objectives, policies, or processes for managing capital
during the six months ended 30 June 2024.
Bank Loans
The particulars of bank loans of the Group as at 30 June 2024 are set out as below:
                                                                                     US$’ 000         US$’000
Current
Current portion of long term bank loans – secured                                      244,008             193,035
Current portion of long term bank loans – unsecured                                      3,026                   –
Non-current
Secured bank loans                                                                    1,740,373          1,786,526
Unsecured bank loans                                                                    224,583            120,000
The Group is dedicated to improving financing method. As at 30 June 2024, the Group had outstanding bank
borrowings of US$2,212.0 million, compared to US$2,099.6 million as at the end of 2023. The bank borrowings
included secured interest-bearing borrowings of US$1,984.4 million and unsecured interest-bearing borrowings of
US$227.6 million. Bank borrowing of US$253.6 million had fixed interest rates ranging from 1.2% to 2.3% per annum.
Except for bank loans of US$1,586.1 million were denominated in US$, all borrowings are denominated in RMB.
Charges on Group Assets
As at 30 June 2024, certain of Group’s property, plant and equipment with a net carrying value of US$2,187,134,000
(31 December 2023: US$1,487,211,000), right-of-use assets of US$47,248,000 (31 December 2023: US$44,319,000),
properties under development of US$86,029,000 (31 December 2023: US$86,565,000) and pledged deposits of
US$30,869,000 (31 December 2023: US$31,062,000) were pledged to banks to secure the Group’s banking facilities.
Pledged deposits with a carrying value of US$304,000 as at 30 June 2024 (31 December 2023: US$306,000) were
pledged to secure the issuance of letters of credit.
Other pledged deposits with a carrying value of US$7,395,000 as at 30 June 2024 (31 December 2023: US$27,000)
were pledged to secure the payment of dividends to shareholders.
                                                                                           INTERIM REPORT 2024    11
MANAGEMENT DISCUSSION AND ANALYSIS
Exposure to Fluctuations in Exchange Rates
We have transactional currency exposures, arising primarily from sales or purchases by our significant subsidiaries
operating in Mainland China in US$ rather than the subsidiary’s functional currency, which is RMB. During the six
months ended 30 June 2024, approximately 20% of our sales were denominated in currencies other than the functional
currency of the subsidiary making the sale, whilst 70% 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 2024, interest-bearing bank borrowings with a carrying amount of US$1,586.1 million
were denominated in US$, instead of the subsidiary’s functional currency, which is RMB.
As at 30 June 2024, 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$35.0 million lower or higher.
For the six months ended 30 June 2024, 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 2024, the Group did not have any contingent liabilities.
RMB Share Issue
On 7 August 2023, the Company was listed on the STAR Market of the Shanghai Stock Exchange, pursuant to which a
total of 407,750,000 ordinary shares of the Company were issued.
The total proceeds raised in the RMB Share Issue amounted to RMB21,203 million. After deducting the issuance
expenses, including underwriting, sponsorship fees, as well as other issuance expenses, the net proceeds amounted
to RMB20,920.7 million. Upon receipt of the proceeds, the entire amount has been deposited into a dedicated account
for the proceeds, which was approved by the Board. The proceeds raised will be utilised in accordance with the
previously disclosed intended use of the proceeds as set out below:
                                                                                                      Unit: RMB’000
                                                           Amount of            Accumulated    Expected timeframe
 Previously disclosed intended                             committed     unutilised proceeds           for usage of
 use of proceeds                                         investments      as at 30 June 2024   unutilised proceeds
 Hua Hong Manufacturing (Wuxi) Project                     12,500,000              9,705,574     By the end of 2025
   Project
 Specialty Technological Innovation,                        2,500,000              2,071,467     By the end of 2026
   Research and Development Project
 Replenishment of Working Capital                           1,000,000                     0                    N/A
Apart from the above, the surplus proceeds of RMB2,921 million raised from the RMB Share Issue will also be used for
the Group’s business operations upon obtaining the necessary approvals in accordance with relevant regulations.
During the six months ended 30 June 2024, the proceeds from the RMB Share Issue were used, and were proposed
to be used, according to the intentions previously disclosed by the Company in the prospectus, and there was no
material change or delay in the use of proceeds.
                                          MANAGEMENT DISCUSSION AND ANALYSIS
Business Review
In the first half of 2024, the global economy continued to recover after the spillover risks from the pandemic and
geopolitical conflicts. The global economy maintained a good growth trend, however, inflationary pressures recurred.
For the overall semiconductor market, the demand trend of some domestic supply chains was improving, however,
the supply-side competition was intensifying, there were regional and product differences in recovery, terminal
inventories were still at high levels, and the fragility of recovery still existed. In the first half of 2024, benefiting from
the advantages of our “8-inch + 12-inch” strategy, product competitiveness and continuous innovation of specialty
process technologies, the beliefs of “Courage, Perseverance and Unity” upheld by our entire workforce and joint
efforts with customers, our Company’s capacity utilization rate has gradually increased. The 8-inch capacity utilization
rate exceeded 100% while 12-inch capacity utilization rate approached full production in the second quarter, and
revenue has shown positive quarter-on-quarter growth for two consecutive quarters. In particular, the performance of
the analog and power management platform was especially impressive.
Benefiting from the localization of consumer ICs such as mobile phones and the booming development of some
downstream markets, the overall product demand for IC process platforms improved, and the shipments and revenue
of each process platform in the first half of 2024 showed a growth trend compared to that in the second half of
maintain rapid growth in both R&D and sales, with MCU and smart card IC products advancing in tandem. The 40nm
specialty process platform has successfully started small-scale pilot production, with a continuous enrichment of
product categories. The 65/90nm BCD platform business has developed smoothly, with strong end-user demand and
significant growth in shipment volume in the first half of the year.
Due to the competitive pressure gradually released from the industry’s expansion of production capacity, as well as
the impact of inventory adjustments in automotive electronics and new energy terminals, the overall power discrete
devices sector was facing a severe market situation. Our Company’s high-end power discrete devices have faced
double pressure on demand and price since the end of 2023. In the first half of 2024, the revenue of high-end power
discrete devices IGBT and superjunction MOSFET experienced some declines. However, customers still maintain good
intentions for the development of new products, which may be reflected from the introduction of new products, and the
number of new industrial and automotive-related products has continued to grow, showing no signs of decline.
In addition, the Company actively carries out ecological chain construction to serve the national strategy, which
promotes the coordinated development with the industrial chain of terminal application companies and IC design
customers, and establishes a sustainable industrial ecosystem. In the first half of 2024, a number of ecological chain
construction activities were carried out in the fields of automotive electronics, high-end consumption and new energy,
and cooperation at the business level was gradually expanded.
A groundbreaking ceremony for the Hua Hong Manufacturing project 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, and process manufacturing platforms capable of producing automotive-grade products. At present,
the construction unit and the engineering R&D team are refining and pushing forward the implementation of various
key nodes. The project has completed the structural topping-out of the main plant in April 2024, two months ahead
of schedule, and is expected to commence equipment move-in in the third quarter, achieve operational status of
production line in the fourth quarter, and release production capacity from 2025 onwards.
In the second half of 2024, the semiconductor situation will remain complicated and unclear, and the recovery of
the IC industry will coexist with challenges. The Company will continue to advance production capacity, accelerate
process development, and strive to cover a wider range of product categories; continue to pay close attention to end
market trends, 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 2024      13
MANAGEMENT DISCUSSION AND ANALYSIS
Significant Investment
The Company did not hold any significant investment (with a value of 5% or more of the Company’s total assets) as of
Future Plans for Material Investments and Capital Assets
Save as disclosed in this interim report, the Group did not have other concrete plans for material investments or capital
assets as of 30 June 2024.
                                                  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;
「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;
「華虹製造」        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,
              由本集團持有51%股份;
「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;
「IC」          集成電路;
「獨立非執行董事」     本公司獨立非執行董事;
釋義
「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C3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;
「人民幣」            中國法定貨幣人民幣;
「人民幣股份」或「A股」     在科創板上市及以人民幣買賣的本公司普通股;
「人民幣股份發行」        本公司發行407,750,000股人民幣股份,自二零二三年八月七日起在科創板上市;
「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。
                                        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)                中國香港
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
葉峻                     主要往來銀行
孫國棟
周利民                    中國建設銀行上海市分行
熊承艷                    中國上海市
                       浦東新區
獨立非執行董事                陸家嘴環路900號
張祖同
王桂壎,太平紳士               國家開發銀行上海分行
封松林                    中國上海市
                       浦東新區
公司秘書                   浦明路68號
李瑞霞
                       招商銀行股份有限公司上海分行營業部
授權代表                   中國上海市
唐均君                    浦東新區
李瑞霞                    陸家嘴環路1088號
審核委員會                  中國建設銀行股份有限公司香港分行
張祖同(主席)                中國香港中環
熊承艷                    干諾道中3號中國建設銀行大廈28樓
封松林
                       交通銀行股份有限公司香港分行
薪酬委員會                  中國香港中環
王桂壎,太平紳士(主席)           畢打街20號
葉峻
封松林                    國家開發銀行江蘇分行
                       中國江蘇省南京市
提名委員會                  江東中路232號
張素心(主席)
王桂壎,太平紳士               中國農業銀行無錫新吳支行
封松林                    中國江蘇省無錫市
                       新吳區和風路26號
網址
                       中國建設銀行無錫高新技術產業開發區支行
www.huahonggrace.com   中國江蘇省無錫市
                       新吳區和風路26號
核數師
                       中信銀行無錫新區支行
安永會計師事務所               中國江蘇省無錫市
執業會計師                  新吳區和風路26號
中國香港
鰂魚涌英皇道979號
太古坊一座27樓
公司資料
中國銀行無錫高新技術產業開發區支行     股份代號
中國江蘇省無錫市
新吳區旺莊路140號            香港聯交所:01347
交通銀行股份有限公司無錫分行        上交所:688347
中國江蘇省無錫市
濱湖區金融二街8號
股份過戶登記處
港股:
卓佳證券登記有限公司
中國香港
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
中國上海市
浦東新區
楊高南路188號
註冊辦事處
中國香港中環
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
中國江蘇省無錫市
新吳區
新洲路30-1號
郵編:214028
                                                         主要財務指標
銷售收入                                   毛利率
        百萬美元                                   %
         二零二二年      二零二三年     二零二四年                 二零二二年    二零二三年         二零二四年
          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
         二零二二年      二零二三年     二零二四年                 二零二二年    二零二三年         二零二四年
          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
                                二零二四年        二零二三年
                                  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                              938,510    1,262,223     (25.6)%
銷售成本                             (858,815)    (884,970)     (3.0)%
毛利                                 79,695      377,253     (78.9)%
其他收入及收益                            71,095       50,679       40.3%
銷售及分銷費用                            (4,770)      (5,090)     (6.3)%
管理費用                             (164,078)    (147,839)      11.0%
其他費用                              (13,813)     (46,126)    (70.1)%
財務費用                              (49,432)     (56,700)    (12.8)%
分佔聯營公司溢利                            2,805        3,504     (19.9)%
稅前(虧損)╱ 溢利                        (78,498)     175,681    (144.7)%
所得稅抵免 ╱(開支)                        11,464      (26,945)   (142.5)%
期內(虧損)╱ 溢利                        (67,034)     148,736    (145.1)%
以下各項應佔:
 母公司擁有人                            38,491     230,758      (83.3)%
 非控股權益                           (105,525)    (82,022)       28.7%
銷售收入
銷售收入達9.385億美元,較二零二三年上半年減少25.6%,乃主要由於平均銷售價格下降所致。
銷售成本
銷售成本為8.588億美元,較二零二三年上半年減少3.0%,主要由於人工費用減少及撥回存貨至可變現淨值所致,部分被
增加的折舊成本所抵銷。
毛利
毛利為7,970萬美元,較二零二三年上半年減少78.9%,主要由於平均銷售價格、產能利用率下降及增加的折舊成本所致。
其他收入及收益
其他收入及收益為7,110萬美元,較二零二三年上半年增加40.3%,主要由於利息收入增加所致。
                                         管理層討論及分析
銷售及分銷費用
銷售及分銷費用為480萬美元,較二零二三年上半年減少6.3%,主要由於人工費用減少所致。
管理費用
管理費用為1.641億美元,較二零二三年上半年增加11.0%,主要由於華虹製造經營費用以及工程片開支增加所致。
其他費用
其他費用為1,380萬美元,較二零二三年上半年減少70.1%,主要由於外匯匯兌損失減少所致。
財務費用
財務費用為4,940萬美元,較二零二三年上半年減少12.8%,主要由於銀行借款利率下降所致。
分佔聯營公司溢利
分佔聯營公司溢利為280萬美元,較二零二三年上半年減少19.9%,乃由於聯營公司實現溢利減少所致。
所得稅抵免 ╱(開支)
所得稅抵免為1,150萬美元,而二零二三年上半年為所得稅開支2,690萬美元,主要由於應課稅溢利減少所致。
期內(虧損)╱ 溢利
在上述因素的累計影響下,期內虧損為6,700萬美元,而二零二三年上半年為期內溢利1.487億美元。
管理層討論及分析
財務狀況
                      二零二四年         二零二三年
                      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              3,750,176     3,519,292      6.6%
投資物業                    165,611       166,643    (0.6)%
使用權資產                    80,629        78,545      2.7%
於聯營公司的投資                141,036       139,099      1.4%
指定按公平值計入其他全面收益的權益工具     285,938       270,506      5.7%
其他非流動資產                 182,374       199,780    (8.7)%
非流動資產總額               4,605,764     4,373,865      5.3%
流動資產
存貨                      462,563       449,749      2.8%
貿易應收款項及應收票據             274,382       278,669    (1.5)%
應收關聯方款項                  16,034        11,219    42.9%
其他流動資產                  282,912       212,649    33.0%
已抵押存款                    39,259        32,088    22.3%
現金及現金等價物              6,423,866     5,585,181    15.0%
流動資產總額                7,499,016     6,569,555    14.1%
流動負債
貿易應付款項                  246,206       235,410      4.6%
計息銀行借款                  247,034       193,035     28.0%
應付關聯方款項                   8,340        13,876   (39.9)%
政府補助                     39,359        35,017     12.4%
其他流動負債                  529,657       495,049      7.0%
流動負債總額                1,070,596       972,387     10.1%
流動資產淨額                6,428,420     5,597,168     14.9%
非流動負債
計息銀行借款                1,964,956     1,906,526     3.1 %
租賃負債                     19,440        19,129     1.6 %
遞延稅項負債                    4,892        30,834   (84.1)%
非流動負債總額               1,989,288     1,956,489     1.7 %
資產淨額                  9,044,896     8,014,544    12.9 %
                                             管理層討論及分析
就二零二三年十二月三十一日至二零二四年六月三十日變動超過10%的項目的闡釋
應收關聯方款項
應收關聯方款項由1,120萬美元增至1,600萬美元,主要由於應收一家關聯方的租賃款項增加所致。
其他流動資產
其他流動資產由2.126億美元增至2.829億美元,主要由於增值稅留抵稅額增加所致。
已抵押存款
已抵押存款由3,210萬美元增至3,930萬美元,主要由於二零二四年六月三十日部分未兌付股息的存款增加所致。
現金及現金等價物
現金及現金等價物由55.852億美元增至64.239億美元,主要由於下文現金流量分析所述之原因。
應付關聯方款項
應付關聯方款項由1,390萬美元減至830萬美元,主要由於一項購買技術應付款於本期支付所致。
政府補助
政府補助由3,500萬美元增至3,940萬美元,主要由於就研發項目自政府收取的款項所致。
計息銀行借款
計息銀行借款總額由20.996億美元增至22.120億美元,乃由於提取銀行借款增加所致。
遞延稅項負債
遞延稅項負債由3,080萬美元減少至490萬美元,主要由於轉回二零二三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
                                     二零二四年         二零二三年
                                       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                            137,550      293,058       (53.1)%
投資活動所用現金流量淨額                           (470,924)    (353,930)       33.1 %
融資活動所得 ╱(所用)現金流量淨額                    1,206,061      (36,934)   (3,365.4)%
現金及現金等價物增加 ╱(減少)淨額                      872,687      (97,806)     (992.3)%
期初現金及現金等價物                            5,585,181    2,008,765       178.0 %
外匯匯率變動影響,淨額                             (34,002)     (60,002)      (43.3)%
期末現金及現金等價物                            6,423,866    1,850,957       247.1 %
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2.931億美元減至1.376億美元,主要由於銷售收入減少所致。
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4.709億美元,主要包括資本投資4.994億美元及權益工具投資1,760萬美元,部分被利息收
入4,600萬美元及出售物業、廠房及設備項目10萬美元所抵銷。
融資活動所得現金流量淨額
融資活動所得現金流量淨額為12.061億美元,包括(i)非控股權益注資11.819億美元,(ii)提取銀行借款2.024億美元,及(iii)
購股權行使所得70萬美元,部分被(i)償還銀行借款8,750萬美元,(ii)利息付款5,200萬美元,(iii)股息付款2,890萬美元,及
(iv)支付租賃付款的本金部份320萬美元所抵銷。
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。於二零二四年六月三十日,本集團的現金及銀行結餘約為64.239億美元(其中約57.168億美元以
人民幣計值,約7.000億美元以美元計值),較二零二三年底的55.852億美元增加8.387億美元。
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。截至二零二四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
本集團於二零二四年六月三十日的銀行貸款詳情載列如下:
                                                二零二四年          二零二三年
                                                六月三十日        十二月三十一日
                                                  千美元            千美元
流動
長期銀行貸款的即期部分 - 有抵押                                244,008           193,035
長期銀行貸款的即期部分 - 無抵押                                  3,026                 –
非流動
有抵押銀行貸款                                         1,740,373         1,786,526
無抵押銀行貸款                                           224,583           120,000
本集團致力於改善融資方式。於二零二四年六月三十日,本集團未償還銀行借款為22.120億美元,而於二零二三年底為
年利率在1.2%至2.3%之間。除15.861億美元的銀行貸款以美元計值外,所有借款以人民幣計值。
抵押集團資產
於二零二四年六月三十日,本集團賬面淨值為2,187,134,000美元(二零二三年十二月三十一日:1,487,211,000美元)的
若干物業、廠房及設備、47,248,000美元(二零二三年十二月三十一日:44,319,000美元)的使用權資產、86,029,000
美元(二零二三年十二月三十一日:86,565,000美元)的發展中物業以及30,869,000美元(二零二三年十二月三十一日:
於二零二四年六月三十日,已抵押賬面值為304,000美元(二零二三年十二月三十一日:306,000美元)的已抵押存款以獲
發行信用證。
於二零二四年六月三十日,已抵押賬面值為7,395,000美元(二零二三年十二月三十一日: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。截至二零二四年六月三十日止六個月,我們的銷售額中約20%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70%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。於二零二四年六月三十日,
賬面值為15.861億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。
於二零二四年六月三十日,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3,500萬美元。
截至二零二四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
於二零二四年六月三十日,本集團概無任何或然負債。
人民幣股份發行
於二零二三年八月七日,本公司在上交所科創板上市,據此發行合共407,750,000股本公司普通股。
人民幣股份發行的募集資金總額為人民幣212.03億元。扣除發行費用(包括承銷、保薦費用和其他發行費用)後,募集資金
淨額為人民幣209.207億元。募集資金到賬後,已全部存放於經董事會批准開設的募集資金專項賬戶內。募集所得款項將
按照先前披露的所得款項計劃用途使用,詳情如下:
                                                        單位:人民幣千元
                                           於二零二四年
                                            六月三十日       未動用所得款項
先前披露的所得款項計劃用途             承諾投資金額        未動用所得款項累計        預計使用時間
華虹製造(無錫)項目                 12,500,000       9,705,574    二零二五年底前
特色工藝技術創新研發項目                2,500,000       2,071,467    二零二六年底前
補充流動資金                      1,000,000               0        不適用
除上述募集資金項目及用途外,公司自人民幣股份發行所獲得的人民幣29.21億元超募資金也將按照相關規定,在履行必
要的程序後用於本集團主營業務。
截至二零二四年六月三十日止六個月,人民幣股份發行的募集資金已按照本公司之前在招股章程中披露的計劃使用或擬使
用,募集資金的用途概無發生重大變更或延遲。
                                             管理層討論及分析
業務回顧
二零二四上半年,全球經濟在疫情和地緣衝突外溢風險後持續修復,全球經濟保持了較好的增長趨勢,但是通脹壓力反
覆。整體半導體市場部分國產供應鏈需求趨勢向好,但供給側競爭態勢加劇,復甦存在地區和產品差異性,而且終端庫存
仍在高位,復甦脆弱性仍然存在。二零二四上半年,得益於公司「8英寸+12英寸」的佈局優勢、特色工藝技術的產品競爭
力與持續創新,公司全體員工「勇敢、堅持、團結」的信念、以及與客戶的共同努力,公司產能利用率逐步提升,至二季度
業績尤為亮眼。
受惠於手機等消費類IC國產化和部分下游市場發展較旺,IC類工藝平台整體產品需求向好,各工藝平台二零二四上半年出
貨量與營收環比均呈增長趨勢。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,MCU和智慧卡IC產品齊頭並進。40納米特色工藝平台開始小規模試生產,產品種類持續豐富。65/90納米
BCD平台業務發展順利,終端需求旺盛,上半年出貨量大幅增長。
受業界擴充產能逐漸釋放的競爭壓力,以及汽車電子、新能源終端庫存調整影響,導致功率器件整體面臨著嚴峻的市場行
情。公司高端功率器件在二零二三年末起面臨需求和價格雙重承壓,二零二四上半年高端功率器件IGBT和超級結MOSFET
營收均出現一定程度的下滑。但是客戶對新品的開發仍然保持良好的意願,從新產品導入情況可以看出,工業及汽車相關
新產品數量保持增長,未見衰退。
此外,公司積極開展服務國家戰略的生態鏈建設,推動與終端應用企業和IC設計客戶的產業鏈協同發展,建立可持續發展
的產業生態。二零二四上半年開展了多場汽車電子、高端消費及新能源領域的生態鏈建設活動,業務層面的合作逐步開拓。
華虹製造項目於二零二三年六月三十日舉行開工儀式,規劃月產能8.3萬片,聚焦先進特色IC和高端功率器件,及具備生產
車規級產品能力的工藝製造平台。目前,建設單位和工程研發團隊正細化、推進落實各關鍵節點,該項目已於二零二四年
四月完成主廠房結構封頂,比計劃提前2個月,預計三季度開始進行設備搬入,四季度實現通線試運行,並在二零二五年
起釋放產能。
二零二四年下半年半導體形勢依然複雜,走勢未見明朗,IC行業復甦與挑戰並存。公司將持續推進產能建設,加速工藝開
發,努力將產品種類覆蓋更加全面;繼續密切關注終端市場趨勢,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
重大投資
截至二零二四年六月三十日,本公司並無持有任何重大投資(價值佔本公司資產總值的5%或以上)。
重大投資及資本資產的未來計劃
除本中期報告所披露者外,截至二零二四年六月三十日,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 29 至 59 頁的中期財務資
pages 29 to 59 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」)於二零二四
(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 2024 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             解釋附註。香港聯合交易所有限公司證券上
ended, and explanatory notes. The Rules Governing the Listing of           市規則規定,須按照當中訂明的相關規定及
Securities on The Stock Exchange of Hong Kong Limited require              香港會計師公會(「香港會計師公會」)頒佈的
the preparation of a report on interim financial information to be in      香港會計準則第34號中期財務報告(「香港會
compliance with the relevant provisions thereof and Hong Kong              計準則第34號」)的規定就中期財務資料編製
Accounting Standard 34 Interim Financial Reporting (“HKAS 34”)             報告。 貴公司的董事須負責根據香港會計
issued by the Hong Kong Institute of Certified Public Accountants          準則第34號編製及列報本中期財務資料。吾
(“HKICPA”). The directors of the Company are responsible for the           等的責任是根據吾等的審閱對本中期財務資
preparation and presentation of this interim financial information         料作出結論,並按照吾等雙方協定的委聘條
in accordance with HKAS 34. Our responsibility is to express a             款,僅向全體董事會報告。除此以外,吾等
conclusion on this interim financial information based on our review.      的報告不可用作其他用途。吾等概不會就本
Our report is made solely to you, as a body, in accordance with our        報告的內容向任何其他人士負責或承擔責任。
agreed terms of engagement, and for no 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 進行審閱。審閱中期財務資料
issued by the HKICPA. A review of interim financial information            包括主要向負責財務和會計事務的人員作出
consists of making inquiries, primarily of persons responsible for         查詢,及應用分析性和其他審閱程序。審閱
financial and accounting matters, and applying analytical and other        的範圍遠較根據香港審計準則進行審核的範
review procedures. A review is substantially less in scope than            圍為小,故不能令吾等保證吾等將知悉在審
an audit conducted in accordance with Hong Kong Standards on               核中可能發現的所有重大事項。因此,吾等
Auditing and consequently does not enable us to obtain assurance           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 2024
                                                   截至二零二四年六月三十日止六個月
                                                                                   For the six months ended
                                                                                    截至六月三十日止六個月
                                                                                    二零二四年                  二零二三年
                                                                                   (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              938,510              1,262,223
 Cost of sales                           銷售成本                                         (858,815)              (884,970)
 Gross profit                            毛利                                                79,695            377,253
 Other income and gains                  其他收入及收益                                        71,095                 50,679
 Selling and distribution expenses       銷售及分銷費用                        4               (4,770)                (5,090)
 Administrative expenses                 管理費用                                         (164,078)              (147,839)
 Other expenses                          其他費用                                          (13,813)               (46,126)
 Finance costs                           財務費用                                          (49,432)               (56,700)
 Share of profits of associates          分佔聯營公司溢利                                        2,805    2,805
 (LOSS)/PROFIT BEFORE TAX                稅前(虧損)╱溢利                      5                  (78,498)          175,681
 Income tax credit/(expense)             所得稅抵免╱(開支)                     6                  11,464             (26,945)
 (LOSS)/PROFIT FOR THE PERIOD            期內(虧損)╱溢利                                         (67,034)          148,736
 Attributable to:                        以下各項應佔:
   Owners of the parent                   母公司擁有人                                        38,491               230,758
   Non-controlling interests              非控股權益                                       (105,525)              (82,022)
                                                                                           (67,034)          148,736
 EARNINGS PER SHARE                      母公司普通股權持有人
  ATTRIBUTABLE TO ORDINARY                應佔每股盈利:
  EQUITY HOLDERS OF THE PARENT:                                         7
  Basic                                   基本
  – For profit for the period             -期內溢利                                      US$0.022              US$0.176
     Diluted                              攤薄
     – For profit for the period          -期內溢利                                      US$0.022              US$0.175
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
                     COMPREHENSIVE INCOME
                   中期簡明綜合全面收益表
             FOR THE SIX MONTHS ENDED 30 JUNE 2024
                      截至二零二四年六月三十日止六個月
                                                                          For the six months ended
                                                                           截至六月三十日止六個月
                                                                           二零二四年           二零二三年
                                                                          (Unaudited)     (Unaudited)
                                                                          (未經審核)          (未經審核)
                                                                          (US$’000)       (US$’000)
                                                                            (千美元)           (千美元)
(LOSS)/PROFIT FOR THE PERIOD                         期內(虧損)╱溢利                 (67,034)       148,736
OTHER COMPREHENSIVE LOSS                             其他全面虧損
Other comprehensive loss that may be                 於其後期間可能重新分類至
  reclassified to profit or loss in subsequent        損益的其他全面虧損:
  periods:
Exchange differences on translation of foreign       換算海外業務產生的外匯差額
  operations                                                                   (49,338)       (169,717)
Net other comprehensive loss that may be             於其後期間可能重新分類至
  reclassified to profit or loss in subsequent        損益的其他全面虧損淨額
  periods                                                                      (49,338)       (169,717)
Other comprehensive loss that will not be            於其後期間不會重新分類至
  reclassified to profit or loss in subsequent        損益的其他全面虧損:
  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                        (436)        (20,548)
Income tax effect                                    所得稅影響                          65           3,082
Net other comprehensive loss that will not be        於其後期間不會重新分類至損益
  reclassified to profit or loss in subsequent        的其他全面虧損淨額
  periods                                                                         (371)        (17,466)
OTHER COMPREHENSIVE LOSS FOR                         期內其他全面虧損,扣除稅項
 THE PERIOD, NET OF TAX                                                        (49,709)       (187,183)
TOTAL COMPREHENSIVE LOSS FOR                         期內全面虧損總額
  THE PERIOD                                                                  (116,743)        (38,447)
Attributable to:                                     以下各項應佔:
  Owners of the parent                                母公司擁有人                     3,062          95,074
  Non-controlling interests                           非控股權益                   (119,805)       (133,521)
                                                                              (116,743)        (38,447)
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
中期簡明綜合財務狀況表                                                 30 JUNE 2024
                                                            二零二四年六月三十日
                                                                            二零二四年        二零二三年
                                                                            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         3,750,176      3,519,292
 Right-of-use assets                           使用權資產                           80,629         78,545
 Investment property                           投資物業                           165,611        166,643
 Intangible assets                             無形資產                            42,320         49,827
 Investment in associates                      於聯營公司的投資                       141,036        139,099
 Equity instruments 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                     285,938       270,506
 Long term prepayments                         長期預付款項                         139,425       149,953
 Deferred tax assets                           遞延稅項資產                             629             –
 Total non-current assets                      非流動資產總額                      4,605,764      4,373,865
 CURRENT ASSETS                                流動資產
 Properties under development                  發展中物業                          207,151       178,828
 Inventories                                   存貨                             462,563       449,749
 Trade and notes receivables                   貿易應收款項及應收票據        10          274,382       278,669
 Prepayments, other receivables and            預付款項、其他應收款項及
   other assets                                 其他資產                           75,761         33,821
 Due from related parties                      應收關聯方款項                         16,034         11,219
 Pledged deposits                              已抵押存款                           39,259         32,088
 Cash and cash equivalents                     現金及現金等價物                     6,423,866      5,585,181
 Total current assets                          流動資產總額                       7,499,016      6,569,555
 CURRENT LIABILITIES                           流動負債
 Trade payables                                貿易應付款項             11          246,206       235,410
 Other payables and accruals                   其他應付款項及暫估費用                    505,945       430,478
 Interest-bearing bank borrowings              計息銀行借款                         247,034       193,035
 Lease liabilities                             租賃負債                             4,674         3,076
 Government grants                             政府補助                            39,359        35,017
 Due to related parties                        應付關聯方款項                          8,340        13,876
 Income tax payable                            應付所得稅                           19,038        61,495
 Total current liabilities                     流動負債總額                       1,070,596       972,387
 NET CURRENT ASSETS                            流動資產淨額                       6,428,420      5,597,168
 TOTAL ASSETS LESS CURRENT                     資產總值減流動負債
   LIABILITIES                                                             11,034,184      9,971,033
                                                                                         continued/…
                                                                                               續╱…
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL
                                             POSITION
                              中期簡明綜合財務狀況表
                                              二零二四年六月三十日
                                                                               二零二四年        二零二三年
                                                                               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                             1,964,956       1,906,526
Lease liabilities                            租賃負債                                  19,440          19,129
Deferred tax liabilities                     遞延稅項負債                                 4,892          30,834
Total non-current liabilities                非流動負債總額                            1,989,288       1,956,489
Net assets                                   資產淨額                               9,044,896       8,014,544
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            4,935,470       4,933,559
Reserves                                     儲備                                 1,333,799       1,367,436
Total equity attributable to owners of the   母公司擁有人應佔權益總額
  parent                                                                        6,269,269       6,300,995
Non-controlling interests                    非控股權益                              2,775,627       1,713,549
Total equity                                 權益總額                               9,044,896       8,014,544
                       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 2024
                                                                                                                                       截至二零二四年六月三十日止六個月
                                                                                                        Attributable to owners of the parent
                                                                                                                  母公司擁有人應佔
                                                                                          Share
                                                                                        of other         Other
                                                                         Share    comprehensive    reserve and                              Asset       Statutory    Exchange
                                                   Share     Merger     option        income of    contributed       Fair value        revaluation       reserve    fluctuation    Retained                 Non-controlling        Total
                                                  capital   reserve    reserve       associates        surplus         reserve            reserve#           fund       reserve      profits       Total          interests       equity
                                                                        購股權        分佔聯營公司的          其他儲備及                公平值                  資產             法定            匯兌
                                                     股本     合併儲備          儲備        其他全面收益            供款盈餘                 儲備            重估儲備#           儲備基金          波動儲備        留存溢利            總計           非控股權益          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$’000       US$’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           千美元
                                                (note 12)
                                               (附註12)
 At 1 January 2024               於二零二四年
                                  一月一日         4,933,559    645,494*   12,794*            1,352*       35,685*          58,435*            99,257*      233,042*       (60,233)*   341,610*    6,300,995          1,713,549    8,014,544
 Profit/(loss) for the period    期內溢利╱(虧損)             –           –         –                 –             –                –                  –             –             –       38,491       38,491           (105,525)     (67,034)
 Other comprehensive loss        期內其他全面虧損:
   for the period:
     Change in fair value of     指定按公平值計入
          equity investments      其他全面收益的股
          designated at fair      權投資的公平值變
          value through other     動,扣除稅項
          comprehensive
          income, net of tax                           –          –          –                –             –              (371)                   –           –             –            –         (371)                 –         (371)
     Exchange differences        換算海外業務產生的
          on translation of       外匯差額
          foreign operations                           –          –          –                –             –                 –                    –           –       (35,058)           –      (35,058)           (14,280)     (49,338)
 Total comprehensive (loss)/     期內全面(虧損)╱收益
     income for the period        總額                   –          –          –                –             –              (371)                   –           –       (35,058)      38,491        3,062           (119,805)    (116,743)
 Dividend declared               已宣派股息                 –          –          –                –                               –                    –           –             –      (36,233)     (36,233)                 –      (36,233)
 Issue of shares (note 12)       發行股份(附註12)        1,911          –       (474)               –             –                 –                    –           –             –            –        1,437                  –        1,437
 Equity-settled share option     以權益結算的購股權安
     arrangements                 排                    –          –          8                –             –                 –                    –           –             –            –            8                  3          11
 Capital contribution from       非控股權益出資
     non-controlling interests                         –          –          –                –             –                 –                    –           –             –            –            –          1,181,880    1,181,880
 Transfer from retained          轉撥自一間子公司產生
     profits generated by a       的留存溢利
     subsidiary                                        –          –          –                –             –                 –                    –      11,870             –      (11,870)           –                  –            –
 At 30 June 2024                 於二零二四年六月三十
 (unaudited)                      日(未經審核)      4,935,470    645,494*   12,328*            1,352*       35,685*          58,064*            99,257*      244,912*       (95,291)*   331,998*    6,269,269          2,775,627    9,044,896
 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 loss        期內其他全面虧損:
   for the period:
     Change in fair value of     指定按公平值計入
          equity investments      其他全面收益的股
          designated at fair      權投資的公平值變
          value through other     動,扣除稅項
          comprehensive
          income, net of tax                           –           –         –                 –             –          (17,466)                    –          –             –            –      (17,466)                 –      (17,466)
     Exchange differences        換算海外業務產生的
          on translation of       外匯差額
          foreign operations                           –           –         –                 –             –                –                     –          –      (118,218)           –     (118,218)           (51,499)    (169,717)
 Total comprehensive (loss)/     期內全面(虧損)╱收益
     income for the period        總額                   –           –         –                 –             –          (17,466)                    –          –      (118,218)     230,758      95,074            (133,521)     (38,447)
 Issue of shares (note 12)       發行股份(附註12)        3,367           –      (822)                –             –                –                     –          –             –            –       2,545                   –        2,545
 Equity-settled share option     以權益結算的購股權安
   arrangements                   排                    –           –       107                 –             –                –                     –          –             –            –         107                 33          140
 Capital contribution from       非控股權益出資
     non-controlling interests                         –           –         –                 –             –                –                     –          –             –            –            –           295,470      295,470
 Transfer from retained          轉撥自一間子公司產生
     profits generated by a       的留存溢利
     subsidiary                                        –           –         –                 –             –                –                     –     29,259             –      (29,259)           –                  –            –
 At 30 June 2023                 於二零二三年六月三十
   (unaudited)                    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
    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 2024
                                        截至二零二四年六月三十日止六個月
#
      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$1,333,799,000 (31 December 2023: US$1,367,436,000) in the             表內之綜合儲備1,333,799,000美元(二零
      interim condensed consolidated statement of financial position.          二三年十二月三十一日:1,367,436,000美
                                                                               元)。
INTERIM CONDENSED CONSOLIDATED STATEMENT OF
CASH FLOWS
中期簡明綜合現金流量表                                                FOR THE SIX MONTHS ENDED 30 JUNE 2024
                                                           截至二零二四年六月三十日止六個月
                                                                                FOR THE SIX MONTHS
                                                                                  ENDED 30 JUNE
                                                                                截至六月三十日止六個月
                                                                               二零二四年                二零二三年
                                                                              (Unaudited)          (Unaudited)
                                                                              (未經審核)               (未經審核)
                                                                                (US$’000)            (US$’000)
                                                                                (千美元)                (千美元)
 CASH FLOWS FROM OPERATING ACTIVITIES                 經營活動所得現金流量
 (Loss)/profit before tax                             稅前(虧損)╱溢利                    (78,498)           175,681
 Adjustments for:                                     就以下各項作出的調整:
   Finance costs                                       財務費用                         49,432              56,700
   Share of profits of associates                      分佔聯營公司溢利                     (2,805)             (3,504)
   Interest income                                     利息收入                        (54,808)            (25,421)
   Loss on disposal of items of property, plant and    出售物業、廠房及設備
      equipment                                          項目的虧損                          42                 16
   Depreciation of property, plant and equipment       物業、廠房及設備折舊                  258,527            234,954
   Amortisation of intangible assets                   無形資產攤銷                        8,272              5,836
   Depreciation of right-of-use assets                 使用權資產折舊                       3,170              3,209
   (Reversal of impairment)/impairment of trade        貿易應收款項
      receivables                                       (減值轉回)╱減值                      (438)              319
   Equity-settled share option expense                 以權益結算的購股權開支                       11               140
 (Increase)/decrease in inventories                   存貨(增加)╱減少                    (12,814)            43,287
 Increase in properties under development             發展中物業增加                      (28,323)            (8,951)
                                                      貿易應收款項及應收
 Decrease/(increase) in trade and notes receivables    票據減少╱(增加)                     4,740             (19,113)
 (Increase)/decrease in prepayments, other            預付款項、其他應收款項及
    receivables and other assets                       其他資產(增加)╱減少                 (32,387)            17,084
 Increase in amounts due from related parties         應收關聯方款項增加                     (4,815)            (3,797)
 Increase in pledged deposits                         已抵押存款增加                         (198)                 –
 Increase/(decrease) in trade payables                貿易應付款項增加╱(減少)                 10,796             (9,092)
                                                      其他應付款項及暫估費用
 Increase/(decrease) in other payables and accruals    增加╱(減少)                      75,872             (99,536)
 Increase/(decrease) in government grants             政府補助增加╱(減少)                    4,582              (1,873)
 Decrease in amounts due to related parties           應付關聯方款項減少                     (5,536)             (1,376)
 Cash generated from operations                       經營產生的現金                      194,822            364,563
 Income tax paid                                      已付所得稅                        (57,272)           (71,505)
 Net cash flows generated from                        經營活動所得現金流量淨額
   operating activities                                                            137,550            293,058
                                                                                                   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 2024
                                       截至二零二四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
                                                                             二零二四年           二零二三年
                                                                            (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                        45,990           27,646
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                      (499,404)       (381,586)
Purchase of an equity investment designated at fair 購買指定為按公平值計入其
   value through other comprehensive income           他全面收益的股權投資                 (17,618)              –
Proceeds from disposal of items of property,         出售物業、廠房及設備項目
   plant and equipment                                所得款項                          108               10
Net cash flows used in investing activities            投資活動所用現金流量淨額             (470,924)       (353,930)
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                  202,447          21,088
Proceeds from issue of shares                          發行股份所得款項                      693           2,849
Capital contribution from non-controlling interests    非控股權益出資                 1,181,880         296,197
Repayment of bank loans                                償還銀行貸款                    (87,530)       (128,092)
Increase in pledged deposits                           已抵押存款增加                    (7,369)       (167,738)
Interest paid                                          已付利息                      (51,955)        (57,533)
Principal portion of lease payments                    支付租賃本金部分                   (3,229)         (3,093)
Dividends paid                                         已付股息                      (28,876)              –
Payment of share issued expense                        支付股份發行開支                        –            (612)
Net cash flows generated from/(used in)                融資活動所得╱(所用)
  financing activities                                  現金流量淨額                 1,206,061         (36,934)
NET INCREASE/(DECREASE) IN CASH AND CASH 現金及現金等價物增加╱
EQUIVALENTS                                      (減少)淨額                          872,687         (97,806)
Cash and cash equivalents at beginning of period 期初現金及現金等價物                    5,585,181       2,008,765
Effect of foreign exchange rate changes, net     外匯匯率變動影響,淨額                     (34,002)        (60,002)
CASH AND CASH EQUIVALENTS AT END OF                    期末現金及現金等價物
 PERIOD                                                                        6,423,866       1,850,957
NOTES TO THE INTERIM CONDENSED
CONSOLIDATED FINANCIAL INFORMATION
中期簡明綜合財務資料附註                                                            30 June 2024
                                                                        二零二四年六月三十日
     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          截至二零二四年六月三十日止六個月的
     the six months ended 30 June 2024 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        集團截至二零二三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 2023.
     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 2023 that is included in the interim condensed               二零二三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
                                          二零二四年六月三十日
  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 2023 to the Registrar of Companies            附表 6 第 3 部的規定,將截至二零二三
  as required by section 662(3) of, and Part 3 of Schedule 6 to,       年十二月三十一日止年度的財務報表送
  the Hong Kong Companies Ordinance. The Company’s auditor             呈公司註冊處處長。本公司的核數師已
  has reported on the financial statements for the year ended 31       就截至二零二三年十二月三十一日止年
  December 2023. The auditor’s report was unqualified; did not         度財務報表提交報告。該核數師報告中
  include a reference to any matters to which the auditor drew         並無保留意見;並未提述核數師在不就
  attention by way of emphasis without qualifying its report; and      其報告作保留意見的情況下以強調方式
  did not contain a statement under sections 406(2), 407(2) or         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二零二三年十
  consistent with those applied 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.
  Amendments to               Lease Liability in a Sale and            香港財務報告準則第16號      售後回租的租賃負債
   HKFRS 16                     Leaseback                               (修訂本)
  Amendments to               Classification of Liabilities as         香港會計準則第1號(修訂本)    負債分類為流動或非流動
   HKAS 1                       Current or Non-current                 香港會計準則第1號(修訂本)    具契諾之非流動負債
  Amendments to               Non-current Liabilities with             香港會計準則第7號及香港財務    供應商融資安排
   HKAS 1                       Covenants                                報告準則第7號(修訂本)
  Amendments to               Supplier Finance Arrangements
   HKAS 7 and HKFRS 7
  The adoption of above revised standards has no significant           採納上述經修訂準則並無對本集團的中
  financial effect to the Group’s interim condensed consolidated       期簡明綜合財務資料產生重大財務影響。
  financial information.
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                          30 June 2024
                                                      二零二四年六月三十日
     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
                                                                           二零二四年         二零二三年
                                                                          (Unaudited)   (Unaudited)
                                                                          (未經審核)        (未經審核)
                                                                            (US$’000)     (US$’000)
                                                                            (千美元)         (千美元)
      China (including Hong Kong)                    中國(包括香港)                751,214       966,424
      North America                                  北美洲                      93,070       119,307
      Asia (excluding China and Japan)               亞洲(不包括中國及日本)             51,703        84,248
      Europe                                         歐洲                       38,912        77,309
      Japan                                          日本                        3,611        14,935
      Total                                          總計                      938,510      1,262,223
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
                                         INFORMATION
                             中期簡明綜合財務資料附註
                                     二零二四年六月三十日
  An analysis of revenue and other income and gains is as    對收入、其他收入及收益的分析如下:
  follows:
                                                                       For the six months
                                                                         ended 30 June
                                                                      截至六月三十日止六個月
                                                                     二零二四年           二零二三年
                                                                    (Unaudited)     (Unaudited)
                                                                    (未經審核)          (未經審核)
                                                                      (US$’000)       (US$’000)
                                                                      (千美元)           (千美元)
   Revenue from contracts with customers      客戶合約收入
   Sale of goods                              銷售貨品                      938,510        1,262,223
   Other income and gains                     其他收入及收益
   Rental income                              租金收入                        7,118            7,384
   Interest income                            利息收入                       54,808           25,421
   Government subsidies                       政府補貼                        8,577           15,001
   Others                                     其他                            592            2,873
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                           30 June 2024
                                                       二零二四年六月三十日
   (CONTINUED)
     An analysis of revenue and other income and gains is as            對收入、其他收入及收益的分析如下:
     follows: (continued)                                              (續)
                                                                             For the six months
                                                                               ended 30 June
                                                                            截至六月三十日止六個月
                                                                            二零二四年           二零二三年
                                                                           (Unaudited)     (Unaudited)
                                                                           (未經審核)          (未經審核)
                                                                             (US$’000)       (US$’000)
                                                                             (千美元)           (千美元)
      Type of goods or service                         貨品或服務類型
      Sales of semiconductor products and total        半導體產品的銷售和
        revenue from contracts with customers           來自客戶合約的總收入              938,510      1,262,223
      Timing of revenue recognition                    收入確認時間
      Goods transferred at a point in time and total   在某一時點轉讓的貨品及
        revenue from contracts with customers           來自客戶合約的總收入              938,510      1,262,223
     The disaggregation of the Group’s revenue based on the             截至二零二四年六月三十日止六個月,
     geographical region for the six months ended 30 June 2024 is       本集團基於地區的收入分類載列於附註
     included in note 3.                                                3。
     The Group’s profit before tax is arrived at after charging/        本集團的稅前溢利乃於扣除╱(計入)下
     (crediting):                                                       列各項後達致:
                                                                             For the six months
                                                                               ended 30 June
                                                                            截至六月三十日止六個月
                                                                            二零二四年           二零二三年
                                                                           (Unaudited)      (Unaudited)
                                                                           (未經審核)          (未經審核)
                                                                             (US$’000)        (US$’000)
                                                                            (千美元)            (千美元)
      Cost of inventories sold                         已售存貨成本                   858,815       884,970
      (Reversal of write-down)/write-down of           存貨(撇減撥回)╱撇減至可
        inventories to net realisable value             變現淨值                     (8,237)        20,697
      (Reversal of impairment)/impairment of           貿易應收款項(減值撥回)╱
        trade receivables                               減值                         (438)           319
      Exchange differences, net                        外匯差額淨額                    13,770         46,110
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
                                         INFORMATION
                             中期簡明綜合財務資料附註
                                            二零二四年六月三十日
  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              至二零二三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 2023: Nil).                                              利得稅作出撥備(截至二零二三年六月三
                                                                         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(截至二零二三
  Enterprise and are entitled to a preferential tax rate of 15% (six     年六月三十日止六個月:15%)。
  months ended 30 June 2023: 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           華虹無錫截至二零二四年六月三十日錄
  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 2024, 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                                               30 June 2024
                                                           二零二四年六月三十日
     The major components of income tax (credit)/expense of the             本集團所得稅(抵免)╱開支的主要組成
     Group are as follows:                                                  部分如下:
                                                                                  For the six months
                                                                                    ended 30 June
                                                                                 截至六月三十日止六個月
                                                                                 二零二四年          二零二三年
                                                                                (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                 15,035         47,071
      Current income tax expense – elsewhere              當期所得稅開支-其他地區                    2             26
      Deferred tax                                        遞延稅項                      (26,501)       (20,152)
      Total income tax (credit)/expense                   所得稅(抵免)╱開支總額              (11,464)       26,945
   TO ORDINARY EQUITY HOLDERS OF THE                                         股盈利
   PARENT
     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               1,716,776,029股(截至二零二三年六月
     ordinary shares of 1,716,776,029 in issue during the period (six       三十日止六個月:1,307,657,291股)普
     months ended 30 June 2023: 1,307,657,291).                             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
                                          二零二四年六月三十日
   TO ORDINARY EQUITY HOLDERS OF THE                                股盈利(續)
   PARENT (CONTINUED)
  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
                                                                          二零二四年           二零二三年
                                                                         (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 the 用於計算每股基本盈利的
     parent, used in the basic earnings per share         母公司普通股權持有人
     calculation                                          應佔溢利                38,491         230,758
                                                                             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
                                                                          二零二四年            二零二三年
                                                                            (’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                  1,716,776       1,307,657
   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                         2,675          11,002
   Total                                            總計                      1,719,451       1,318,659
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                       30 June 2024
                                                   二零二四年六月三十日
                                                                           For the six months
                                                                             ended 30 June
                                                                          截至六月三十日止六個月
                                                                          二零二四年        二零二三年
                                                                           US$’000      US$’000
                                                                            千美元          千美元
      Final declared and paid                      已宣派及派付末期股息                28,876             –
      Final declared and unpaid (included in       已宣派但未派付末期股息
        pledged deposits)                           (計入已抵押存款)                 7,357             –
      Total                                        總計                        36,233             –
     During the six months ended 30 June 2024, the Company’s        截至二零二四年六月三十日止六個月,
     shareholders approved 2023 proposed final dividend with a      本公司股東批准二零二三年建議末期股
     total amount of US$36,233,000 (HK$16.5 cents per ordinary      息,總金額為36,233,000美元(每股普
     share) (six months ended 30 June 2023: Nil).                   通股16.5港仙)
                                                                            (截至二零二三年六月三
                                                                    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
                                          二零二四年六月三十日
  During the six months ended 30 June 2024, the major changes       截至二零二四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$511,788,000 (six months             的成本為511,788,000 美元(截至
         ended 30 June 2023: US$246,129,000).                            二零二三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$258,527,000 during the period (six months ended          舊 為 2 5 8 , 5 2 7 , 0 0 0 美 元( 截 至 二
  •      Assets with a net book value of US$56,000 were disposed    •    截至二零二四年六月三十日止六
         of by the Group during the six months ended 30 June             個月,本集團已出售賬面淨值為
                                                                         年六月三十日止六個月:45,000美
                                                                         元)。
                                                                             二零二四年        二零二三年
                                                                             六月三十日 十二月三十一日
                                                                            (Unaudited)     (Audited)
                                                                            (未經審核)         (經審核)
                                                                              (US$’000)    (US$’000)
                                                                              (千美元)        (千美元)
      Trade receivables                             貿易應收款項                      214,852            214,414
      Notes receivable                              應收票據                         61,773             66,951
      Impairment of trade receivables               貿易應收款項減值                     (2,243)            (2,696)
      Total                                         總計                          274,382            278,669
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                           30 June 2024
                                                       二零二四年六月三十日
    (CONTINUED)
     An ageing analysis of the trade receivables, based on the          按發票日期計,貿易應收款項(扣除撥備)
     invoice date and net of provisions, is as follows:                 的賬齡分析如下:
                                                                             二零二四年        二零二三年
                                                                             六月三十日 十二月三十一日
                                                                            (Unaudited)     (Audited)
                                                                            (未經審核)         (經審核)
                                                                              (US$’000)    (US$’000)
                                                                              (千美元)        (千美元)
       Within 3 months                                  3個月以內                  213,283       232,485
       Over 3 and within 6 months                       超過3個月且於6個月內             60,113        43,762
       Over 6 months and within 1 year                  超過6個月且於1年內                 986         2,422
       Total                                            總計                     274,382       278,669
     An ageing analysis of the trade payables of the Group as at        於報告期末按發票日期計,本集團貿易應
     the end of the reporting period, based on the invoice date, is     付款項的賬齡分析如下:
     as follows:
                                                                             二零二四年        二零二三年
                                                                             六月三十日 十二月三十一日
                                                                            (Unaudited)     (Audited)
                                                                            (未經審核)         (經審核)
                                                                              (US$’000)    (US$’000)
                                                                              (千美元)        (千美元)
       Within 1 month                                   1個月以內                  121,164       149,116
       Over 1 but within 3 months                       超過1個月但於3個月內             70,747        42,579
       Over 3 but within 6 months                       超過3個月但於6個月內             30,709        16,166
       Over 6 but within 12 months                      超過6個月但於12個月內             9,520        11,158
       Over 12 months                                   12個月以上                  14,066        16,391
       Total                                            總計                     246,206       235,410
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
                                         INFORMATION
                             中期簡明綜合財務資料附註
                                          二零二四年六月三十日
                                                                         Number of        Amount of
                                                                     shares in issue    share capital
                                                                     已發行股份數目                股本金額
                                                                               (’000)      (US$’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                  739           1,911
                                                     (未經審核)                1,717,328       4,935,470
   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
  The Group had the following contractual commitments at the      本集團於報告期末有以下合約承擔:
  end of the reporting period:
                                                                         二零二四年        二零二三年
                                                                         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)
   Property, plant and equipment                       物業、廠房及設備            2,974,585       1,258,232
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                             30 June 2024
                                                         二零二四年六月三十日
     (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”)                  20.24% Shareholder of the
                                                                                     Company
          -華虹國際有限公司(「華虹國際」)                                                        持股20.24%之本公司股東
          – 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 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
          Shanghai Huahong Technology Development Co., Ltd.                        Associate of the Group
            (“Huahong 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                                                  Subsidiary of Huahong
            Estate Co., Ltd. (“Huahong Real Estate”)                                 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                                               Subsidiary of Huahong
            Management Co., Ltd. (“Huajin”)                                          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
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
                                         INFORMATION
                             中期簡明綜合財務資料附註
                                           二零二四年六月三十日
    (CONTINUED)
  (b) In addition to the transactions disclosed elsewhere in        (b) 除本財務資料其他部分所披露的交
      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
                                                                           二零二四年           二零二三年
                                                                          (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))
         Huahong Zealcore                             華虹摯芯                       9,110              7,698
         Hongri                                       虹日                           395                785
       Purchases of goods from related parties      自關聯方購買貨品
         (note (ii))                                 (附註(ii))
         Hongri                                       虹日                       16,699           10,804
         Huahong Zealcore                             華虹摯芯                        364              660
         Jitong                                       計通                            8                8
       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                       7,016              7,040
       Service fee charged by a related party       關聯方收取的服務費
         (note (iv))                                 (附註(iv))
         Huajin                                       華錦                          288                303
       Interest expense charged by a related        關聯方(作為承租人)
          party under lease arrangement as           根據租賃安排收取的
          a lessee (note (iv))                       利息開支(附註(iv))
          Huahong Real Estate                        華虹置業                         445                473
       Expense paid on behalf of a related          代關聯方支付的開支
         party (note (v))                            (附註(v))
         Shanghai Huali                               上海華力                     13,585           14,338
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                                    30 June 2024
                                                                二零二四年六月三十日
    (CONTINUED)
     (b) In addition to the transactions disclosed elsewhere in                   (b) 除本財務資料其他部分所披露的交
         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:
                                                                                           (續)
         (Continued)
         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。
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
                                         INFORMATION
                             中期簡明綜合財務資料附註
                                              二零二四年六月三十日
    (CONTINUED)
  (c) Compensation of key management personnel of the                            (c) 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
                                                                                          二零二四年               二零二三年
                                                                                         (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                                   2,282                1,869
       Pension scheme contributions                     退休金計劃供款                                    101                   80
       Equity-settled share option expense              以權益結算的購股權開支                                 11                  103
       Total compensation paid to key                   支付予主要管理人員的
         management personnel                            酬金總額                                    2,394                2,052
    OF 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
  instruments, 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
                                                                  二零二四年        二零二三年            二零二四年        二零二三年
                                                                  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 at fair   指定為按公平值計入其他
     value through other comprehensive     全面收益的股本投資
     income                                                         285,938        270,506        285,938            270,506
  Financial liabilities                   金融負債
  Interest-bearing bank borrowings        計息銀行借款                  1,964,956      1,906,526       1,967,202          1,911,206
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                              30 June 2024
                                                          二零二四年六月三十日
    OF 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
                                            二零二四年六月三十日
    OF 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                    二零二四年六月三十日及二零二三年十
  borrowings as at 30 June 2024 and 31 December 2023 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                              1,980      281,027          2,931      285,938
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                               30 June 2024
                                                           二零二四年六月三十日
    OF 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                            2,429       265,128           2,949     270,506
     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(截至二零二三年六月三
     liabilities (six months ended 30 June 2023: 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
                                               二零二四年六月三十日
    OF 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                       四年六月三十日的重大不可觀察輸入數
  inputs (Level 3) as at 30 June 2024. 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
                                 technique        unobservable input                          Range     to 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   Valuation        Average P/S multiple       30 June 2024: 4.5x-11.9x   5% (31 December 2023: 5%)
                                   multiples        of peers                      31 December 2023:      increase/decrease would result
                                                                                                         value by 5% (31 December
    未上市股本投資                      估值倍數             同業平均市銷率                           二零二四年               5%(二零二三年十二月三十一
                                                                              六月三十日:4.5x-11.9x           日:5%)的增加╱減少將導致公
                                                                                 二零二三年十二月                平值增加╱減少5%(二零二三年
                                                                               三十一日:4.5x-11.9x           十二月三十一日:5%)
                                                  Discount for illiquidity            2024:20%-30%      5% (31 December 2023: 5%)
                                                                                                         in decrease/increase in fair
                                                                                                         value by 5% (31 December
                                                  缺乏流通性的折讓價                    二零二四年:20%-30%            5%(二零二三年十二月三十一
                                                                               二零二三年:20%-30%             日:5%)的增加╱減少將導致公
                                                                                                         平值減少╱增加5%(二零二三年
                                                                                                         十二月三十一日:5%)
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註                                                30 June 2024
                                                            二零二四年六月三十日
    OF 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)
      Exchange realignment                                     匯兌調整                                  (18)
      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)
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
                                         INFORMATION
                             中期簡明綜合財務資料附註
                                          二零二四年六月三十日
  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 following share options were outstanding during the             以下購股權於期內尚未行使:
  period:
                                                                                Number of options
                                                                                   購股權數目
                                                                             二零二四年            二零二三年
                                                                               (’000)           (’000)
                                                                              (千份)             (千份)
   At 1 January                                      於一月一日                       21,422           23,438
   Exercised during the period                       期內行使                          (739)          (1,310)
   Forfeited during the period                       期內沒收                          (205)             (13)
   At 30 June                                        於六月三十日                      20,478           22,115
  To the date of approval of the interim condensed consolidated       直至批准中期簡明綜合財務資料之日,
  financial information, there is no material subsequent event        本集團概無發生任何重大期後事項。
  undertaken by the Group.
    CONSOLIDATED FINANCIAL INFORMATION
  The interim condensed consolidated financial information was        中期簡明綜合財務資料已於二零二四年
  approved and authorised 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                               30 JUNE 2024
                                     二零二四年六月三十日
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。於二零二四年六月三十日,本公司於購股權計
on 1 September 2022. No further options could be          劃項下共有20,477,972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1.19%。下表載列截至二零二四年六月
Option Scheme from that date. As of 30 June 2024,         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 20,477,972 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 1.19% 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
                                                                                           二零二四年六月三十日
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
Cancelled/lapsed during the year 2023                                                                                 -8,168         -6,900       -15,068
於二零二三年註銷╱失效
Exercised during the period                                     –             –              –             –        705,951          33,500       739,451
期內行使
Cancelled during the period                                     –             –              –             –              –               –             –
期內註銷
Lapsed during the period                                        –             –              –             –        -87,758        -116,668      -204,426
期內失效
Outstanding as at 1 January 2024                          437,500             –              –             –     19,468,191       1,516,248    21,421,849
於二零二四年一月一日尚未行使
Outstanding as at 30 June 2024                            437,500             –              –             –     18,674,392       1,366,080    20,477,972
於二零二四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$19.20        HK$21.65
股份於緊接購股權獲行使日期之前的
  加權平均收市價                                                                                                         19.20港元         21.65港元
OTHER DISCLOSURES
其他披露資料                           30 June 2024
                                 二零二四年六月三十日
Notes:                                                            附註:
     fourth of the options shall vest on each of 23 December          分別於二零二一年十二月二十三日、二零二二年八月十二
     third of the options shall vest on each of 4 September           分別於二零一七年九月四日、二零一八年九月四日及二零
     employees at or above the level of the vice president,           級別的僱員而言,期權的四分之一分別於二零二零年十二
     one fourth of the options shall vest on each of 24               月二十四日、二零二一年十二月二十四日、二零二二年十
     December 2020, 24 December 2021, 24 December 2022                二月二十四日及二零二三年十二月二十四日歸屬;其他僱
     and 24 December 2023; for the other employees, one               員而言,期權的三分之一分別於二零二零年十二月二十四
     third of the options shall vest on each of 24 December           日、二零二一年十二月二十四日及二零二二年十二月二十
     employees at or above the level of the vice president,           級別的僱員而言,期權的四分之一分別於二零二一年十二
     one fourth of the options shall vest on each of 23               月二十三日、二零二二年十二月二十三日、二零二三年十
     December 2021, 23 December 2022, 23 December 2023                二月二十三日及二零二四年十二月二十三日歸屬;其他僱
     and 23 December 2024; for the other employees, one               員而言,期權的三分之一分別於二零二一年十二月二十三
     third of the options shall vest on each of 23 December           日、二零二二年十二月二十三日及二零二三年十二月二十
     December 2020 to 23 December 2025                                年十二月二十三日
     December 2021 to 22 December 2026                                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
                                                                                二零二四年六月三十日
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 2024, except as disclosed below, none                     於二零二四年六月三十日,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                                      448,500            0.03%
Note:                                                                   附註:
(1)     Including (i) long position in 437,500 underlying shares        (1)   包括(i)按購股權計劃授出的購股權項下於本公司437,500股
        of the Company under share options granted pursuant                   相關股份的好倉,及(ii)日期為二零二四年一月五日之關於
        to the Share Option Scheme and (ii) 11,000 A shares                   部分高級管理人員增持公司A股股份計劃的公告所披露的
        of the Company as disclosed in the announcement                       11,000股公司A股股份。有關二零二四年一月一日及二零二
        regarding the plan for additional acquisition of A Shares             四年六月三十日的尚未行使的購股權的詳情,請參閱第61
        of the Company by certain senior management dated 5                   頁。
        January 2024. Please refer to page 61 for particulars of
        outstanding options as of 1 January 2024 and 30 June
OTHER DISCLOSURES
其他披露資料                          30 June 2024
                                二零二四年六月三十日
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 2024, persons other than a Director or              於二零二四年六月三十日,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)              20.24%
   (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        347,605,650(1)              20.24%
   (Huahong Group) (2)                        corporation
 上海華虹(集團)有限公司(華虹集團)(2)                     受控制法團權益
                                           Legal and beneficial owner        1,198,517(3)               0.07%
                                           法定及實益擁有人
 Sino-Alliance International, Ltd.         Legal and beneficial owner      160,545,541(1)(4)            9.35%
   (Sino-Alliance International)
                                           法定及實益擁有人
 Sino-Alliance International, Ltd.         Interest in a controlled         28,415,606(1)               1.65%
   (Sino-Alliance International)              corporation
                                           受控制法團權益
 Shanghai Alliance Investment              Interest in a controlled        188,961,147(1)(5)           11.00%
   Ltd. (SAIL)                                corporation
 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      168,262,925(1)               9.80%
 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        168,262,925(1)               9.80%
 巽鑫(上海)投資有限公司                                 corporation
                                           受控制法團權益
 China Integrated Circuit Industry         Interest in a controlled        168,262,925(1)               9.80%
  Investment Fund Co., Ltd.                   corporation
 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
                                                                           二零二四年六月三十日
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)   Huahong Group directly held a total of 1,198,517 A         (3)   華虹集團直接持有合共1,198,517股A股股份。
      shares.
(4)   Including 3,084 shares held in escrow by Sino-Alliance     (4)   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。
(5)   SAIL indirectly held beneficial ownership in the Company   (5)   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二零二四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1,717,328,145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          二零二四年六月三十日,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                  截至二零二四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
borrowings, lease liabilities and amounts due to related          零二四年六月三十日,本集團的資產負債比率為-64.39%
parties, less cash and cash equivalents. The Group’s             (二零二三年十二月三十一日:-55.79%)。
gearing ratio as at 30 June 2024 was -64.39% (31
December 2023: -55.79%).
OTHER DISCLOSURES
其他披露資料                       30 June 2024
                             二零二四年六月三十日
EMPLOYEES AND REMUNERATION                                僱員及薪酬政策
POLICIES
As at 30 June 2024, the Company had approximately         於二零二四年六月三十日,本公司於中國及海外擁有約
June 2023: approximately 6,700). 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 2024, the Company has reviewed the          本公司截至二零二四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
                                                               二零二四年六月三十日
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,本公司截至二零二四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C1所載的企業管治守則內的
Corporate Governance Code as contained in Appendix          守則條文。
C1 of the Listing Rules during the six-month period
ended 30 June 2024.
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二零二四年六月三十日
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 during the six-month period
ended 30 June 2024.
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二零二四年六月三十日
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 2024
                             二零二四年六月三十日
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D2所規定資料的截至二零二四年六月
of the Listing Rules will be dispatched to shareholders   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            ( www.huahonggrace.com )刊載。
Stock 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
www.huahonggrace.com

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