Hua Hong Semiconductor Co., Ltd. recorded a decline of 23.88% in revenue for the first half of 2024 compared to the same period last year, with net profit and net profit excluding non-recurring gains and losses decreasing by 83.33% and 83.46% respectively. The company was affected by industry cycles, resulting in a decrease in average selling prices for wafer foundry services, an increase in manufacturing costs, and an increase in research and development expenses. Nevertheless, the company operated normally and did not face any significant risks. As joint sponsors, GTJA Securities Co., Ltd. and Haitong Securities Co., Ltd. have provided continuous supervision and believe that the company is in compliance with relevant laws and regulations, fulfilling its commitments. Hua Hong Semiconductor continues to...Show More

Hua Hong Semiconductor Co., Ltd. recorded a decline of 23.88% in revenue for the first half of 2024 compared to the same period last year, with net profit and net profit excluding non-recurring gains and losses decreasing by 83.33% and 83.46% respectively. The company was affected by industry cycles, resulting in a decrease in average selling prices for wafer foundry services, an increase in manufacturing costs, and an increase in research and development expenses. Nevertheless, the company operated normally and did not face any significant risks. As joint sponsors, GTJA Securities Co., Ltd. and Haitong Securities Co., Ltd. have provided continuous supervision and believe that the company is in compliance with relevant laws and regulations, fulfilling its commitments. Hua Hong Semiconductor continues to invest in technology, research and development, and market competitiveness to maintain its leading position in the field of specialty process wafer foundry services. The use of funds raised by the company is in accordance with relevant regulations and there is no improper use. In addition, the controlling shareholder, Shanghai Hua Hong (Group) Co., Ltd., increased its shareholding in the company during the first half of 2024, demonstrating confidence in the company's future development.