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）
2024 INTERIM REPORT 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$” Hong Kong dollars the lawful currency of Hong Kong;
“Hong Kong” the Hong Kong Special Administrative Region of the PRC;
“Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited;
“IC” Integrated Circuit;“Independent Non-Executive the independent non-executive Director(s) of our Company;Director(s)”
INTERIM REPORT 2024 1DEFINITIONS
“Listing Rules” the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong
Limited as amended or supplemented from time to time;
“Model Code” the Model Code for Securities Transactions by Directors of Listed Issuers as set out
in Appendix C3 to the Listing Rules;
“Non-Executive Director(s)” the non-executive Director(s) of our Company;
“RMB” Renminbi the lawful currency of the PRC;
“RMB Share(s)” or “A Share(s)” the ordinary share(s) of the Company which are listed on the STAR Market and
traded in RMB;
“RMB Share Issue” the Company’s issue of 407750000 RMB Shares which have been listed on the
STAR Market since 7 August 2023;
“SFO” the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as
amended or supplemented from time to time;
“Shanghai Stock Exchange” the Shanghai Stock Exchange;
“STAR Market” the Science and Technology Innovation Board of the Shanghai Stock Exchange;
“US$” US dollars the lawful currency of USA.
2 HUA HONG SEMICONDUCTOR LIMITEDCORPORATE 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
27/F One Taikoo Place No. 26 Hefeng Road Xinwu District
979 King’s Road Quarry Bay Wuxi Jiangsu PRC
Hong Kong PRC
INTERIM REPORT 2024 3CORPORATE 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
17/F Far East Finance Centre
16 Harcourt Road
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
12 Harcourt Road Central
Hong Kong PRC
Principal Places of Business
288 Halei Road
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
4 HUA HONG SEMICONDUCTOR LIMITEDKEY FINANCIALS
Revenue Gross profit margin
US$ million %
140035.0%
1262.2
1215.530.3%29.9%
120030.0%
1000938.525.0%
80020.0%
60015.0%
40010.0%8.5%
2005.0%
00.0%
1H 2022 1H 2023 1H 2024 1H 2022 1H 2023 1H 2024
Profit attributable to owners of the parent EPS
US$ million US$
2500.20
230.8
0.176
0.18
200186.90.16
0.144
0.14
1500.12
0.10
1000.08
0.06
5038.50.04
0.022
0.02
00.00
1H 2022 1H 2023 1H 2024 1H 2022 1H 2023 1H 2024
INTERIM REPORT 2024 5MANAGEMENT DISCUSSION AND ANALYSIS
Financial Performance
1H 2024 1H 2023 Change
US$’000 US$’000
Unaudited Unaudited
Revenue 938510 1262223 (25.6)%
Cost of sales (858815) (884970) (3.0)%
Gross profit 79695 377253 (78.9)%
Other income and gains 71095 50679 40.3%
Selling and distribution expenses (4770) (5090) (6.3)%
Administrative expenses (164078) (147839) 11.0%
Other expenses (13813) (46126) (70.1)%
Finance costs (49432) (56700) (12.8)%
Share of profits of associates 2805 3504 (19.9)%
(Loss)/profit before tax (78498) 175681 (144.7)%
Income tax credit/(expense) 11464 (26945) (142.5)%
(Loss)/profit for the period (67034) 148736 (145.1)%
Attributable to:
Owners of the parent 38491 230758 (83.3)%
Non-controlling interests (105525) (82022) 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 pro t
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.
6 HUA HONG SEMICONDUCTOR LIMITEDMANAGEMENT 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 pro ts 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)/pro t 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$148.7 million in 1H 2023.INTERIM REPORT 2024 7MANAGEMENT DISCUSSION AND ANALYSIS
Financial Status
30 June 31 December
2024 2023 Change
US$’000 US$’000
Unaudited Audited
Non-current assets
Property plant and equipment 3750176 3519292 6.6%
Investment property 165611 166643 (0.6)%
Right-of-use assets 80629 78545 2.7%
Investment in associates 141036 139099 1.4%
Equity instruments designated at fair value
through other comprehensive income 285938 270506 5.7%
Other non-current assets 182374 199780 (8.7)%
Total non-current assets 4605764 4373865 5.3%
Current assets
Inventories 462563 449749 2.8%
Trade and notes receivables 274382 278669 (1.5)%
Due from related parties 16034 11219 42.9%
Other current assets 282912 212649 33.0%
Pledged deposits 39259 32088 22.3%
Cash and cash equivalents 6423866 5585181 15.0%
Total current assets 7499016 6569555 14.1%
Current liabilities
Trade payables 246206 235410 4.6%
Interest-bearing bank borrowings 247034 193035 28.0%
Due to related parties 8340 13876 (39.9)%
Government grants 39359 35017 12.4%
Other current liabilities 529657 495049 7.0%
Total current liabilities 1070596 972387 10.1%
Net current assets 6428420 5597168 14.9%
Non-current liabilities
Interest-bearing bank borrowings 1964956 1906526 3.1 %
Lease liabilities 19440 19129 1.6 %
Deferred tax liabilities 4892 30834 (84.1)%
Total non-current liabilities 1989288 1956489 1.7 %
Net assets 9044896 8014544 12.9 %
8 HUA HONG SEMICONDUCTOR LIMITEDMANAGEMENT DISCUSSION AND ANALYSIS
Explanation of items with uctuation 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$5585.2 million to US$6423.9 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$2099.6 million to US$2212.0 million due to increased
drawdowns of bank borrowings.Deferred tax liabilities
Deferred tax liabilities decreased from US$30.8 million to US$4.9 million primarily due to a reversal of dividend
withholding tax accrued for 2023.INTERIM REPORT 2024 9MANAGEMENT DISCUSSION AND ANALYSIS
Cash Flow
1H 2024 1H 2023 Change
US$’000 US$’000
Unaudited Unaudited
Net cash flows generated from operating activities 137550 293058 (53.1)%
Net cash flows used in investing activities (470924) (353930) 33.1 %
Net cash flows generated from/(used in)
financing activities 1206061 (36934) (3365.4)%
Net increase/(decrease) in cash and
cash equivalents 872687 (97806) (992.3)%
Cash and cash equivalents at beginning of the period 5585181 2008765 178.0 %
Effect of foreign exchange rate changes net (34002) (60002) (43.3)%
Cash and cash equivalents at end of the period 6423866 1850957 247.1 %
Net cash ows 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 ows 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 ows generated from nancing activities
Net cash flows generated from financing activities were US$1206.1 million including (i) US$1181.9 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$6423.9 million (of which approximately
US$5716.8 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$5585.2 million at the end of 2023.Liquidity
To meet liquidity requirements in the short and long term our policy is to monitor regularly the current and expected
liquidity requirements to ensure that we maintain sufficient reserves of cash and adequate committed lines of funding
from major financial institutions.
10 HUA HONG SEMICONDUCTOR LIMITEDMANAGEMENT DISCUSSION AND ANALYSIS
Capital Management
Our primary objectives of capital management are to safeguard our ability to continue as a going concern and to
maintain healthy capital ratios to support our business and maximize shareholders’ value. We manage our capital
structure and make adjustments in light of the changes in economic conditions. To do this we may adjust the dividend
payment to shareholders return capital to shareholders or issue new shares. We are not subject to any externally
imposed capital requirements. No changes were made in the objectives policies or processes for managing capital
during the six months ended 30 June 2024.Bank Loans
The particulars of bank loans of the Group as at 30 June 2024 are set out as below:
30 June 2024 31 December 2023
US$’000 US$’000
Current
Current portion of long term bank loans – secured 244008 193035
Current portion of long term bank loans – unsecured 3026 –
247034193035
Non-current
Secured bank loans 1740373 1786526
Unsecured bank loans 224583 120000
19649561906526
22119902099561
The Group is dedicated to improving financing method. As at 30 June 2024 the Group had outstanding bank
borrowings of US$2212.0 million compared to US$2099.6 million as at the end of 2023. The bank borrowings
included secured interest-bearing borrowings of US$1984.4 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$1586.1 million were denominated in US$ 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$2187134000
(31 December 2023: US$1487211000) right-of-use assets of US$47248000 (31 December 2023: US$44319000)
properties under development of US$86029000 (31 December 2023: US$86565000) and pledged deposits of
US$30869000 (31 December 2023: US$31062000) were pledged to banks to secure the Group’s banking facilities.Pledged deposits with a carrying value of US$304000 as at 30 June 2024 (31 December 2023: US$306000) were
pledged to secure the issuance of letters of credit.Other pledged deposits with a carrying value of US$7395000 as at 30 June 2024 (31 December 2023: US$27000)
were pledged to secure the payment of dividends to shareholders.INTERIM REPORT 2024 11MANAGEMENT DISCUSSION AND ANALYSIS
Exposure to Fluctuations in Exchange Rates
We have transactional currency exposures arising primarily from sales or purchases by our significant subsidiaries
operating in Mainland China in US$ 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$1586.1 million
were denominated in US$ 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 407750000 ordinary shares of the Company were issued.The total proceeds raised in the RMB Share Issue amounted to RMB21203 million. After deducting the issuance
expenses including underwriting sponsorship fees as well as other issuance expenses the net proceeds amounted
to RMB20920.7 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 12500000 9705574 By the end of 2025
8-Inch Factory Optimisation and Upgrading 2000000 1891860 By the end of 2025
Project
Specialty Technological Innovation 2500000 2071467 By the end of 2026
Research and Development Project
Replenishment of Working Capital 1000000 0 N/A
Apart from the above the surplus proceeds of RMB2921 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.
12 HUA HONG SEMICONDUCTOR LIMITEDMANAGEMENT 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
2023. The Embedded/Standalone Non-Volatile Memory (eNVM/Standalone NVM) process platforms continued to
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 83000 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 endmarket 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 13MANAGEMENT DISCUSSION AND ANALYSIS
Signi cant Investment
The Company did not hold any significant investment (with a value of 5% or more of the Company’s total assets) as of
30 June 2024.
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.
14 HUA HONG SEMICONDUCTOR LIMITED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；
2024年中期報告15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407750000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。
16華虹半導體有限公司公司資料
董事會香港法律顧問執行董事史密夫斐爾律師事務所
張素心（主席）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
2024年中期報告17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
18華虹半導體有限公司主要財務指標
銷售收入毛利率
百萬美元%
140035.0%
1262.2
1215.530.3%29.9%
120030.0%
1000938.525.0%
80020.0%
60015.0%
40010.0%8.5%
2005.0%
00.0%
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
2500.20
230.8
0.176
0.18
200186.90.16
0.144
0.14
1500.12
0.10
1000.08
0.06
5038.50.04
0.022
0.02
00.00
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
2024年中期報告19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9385101262223(25.6)%
銷售成本(858815)(884970)(3.0)%
毛利79695377253(78.9)%
其他收入及收益710955067940.3%
銷售及分銷費用(4770)(5090)(6.3)%
管理費用(164078)(147839)11.0%
其他費用(13813)(46126)(70.1)%
財務費用(49432)(56700)(12.8)%
分佔聯營公司溢利28053504(19.9)%稅前（虧損）╱溢利(78498)175681(144.7)%
所得稅抵免╱（開支）11464(26945)(142.5)%期內（虧損）╱溢利(67034)148736(145.1)%
以下各項應佔：
母公司擁有人38491230758(83.3)%
非控股權益(105525)(82022)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7970萬美元，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7110萬美元，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。
20華虹半導體有限公司管理層討論及分析
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1380萬美元，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4940萬美元，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1150萬美元，而二零二三年上半年為所得稅開支2690萬美元，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6700萬美元，而二零二三年上半年為期內溢利1.487億美元。
2024年中期報告21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375017635192926.6%
投資物業165611166643(0.6)%
使用權資產80629785452.7%
於聯營公司的投資1410361390991.4%
指定按公平值計入其他全面收益的權益工具2859382705065.7%
其他非流動資產182374199780(8.7)%
非流動資產總額460576443738655.3%流動資產
存貨4625634497492.8%
貿易應收款項及應收票據274382278669(1.5)%
應收關聯方款項160341121942.9%
其他流動資產28291221264933.0%
已抵押存款392593208822.3%
現金及現金等價物6423866558518115.0%
流動資產總額7499016656955514.1%流動負債
貿易應付款項2462062354104.6%
計息銀行借款24703419303528.0%
應付關聯方款項834013876(39.9)%
政府補助393593501712.4%
其他流動負債5296574950497.0%
流動負債總額107059697238710.1%
流動資產淨額6428420559716814.9%非流動負債
計息銀行借款196495619065263.1%
租賃負債19440191291.6%
遞延稅項負債489230834(84.1)%
非流動負債總額198928819564891.7%
資產淨額9044896801454412.9%
22華虹半導體有限公司管理層討論及分析
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1120萬美元增至1600萬美元，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3210萬美元增至3930萬美元，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1390萬美元減至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3500萬美元增至3940萬美元，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3080萬美元減少至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。
2024年中期報告23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137550293058(53.1)%
投資活動所用現金流量淨額(470924)(353930)33.1%
融資活動所得╱（所用）現金流量淨額1206061(36934)(3365.4)%
現金及現金等價物增加╱（減少）淨額872687(97806)(992.3)%
期初現金及現金等價物55851812008765178.0%
外匯匯率變動影響，淨額(34002)(60002)(43.3)%期末現金及現金等價物64238661850957247.1%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1760萬美元，部分被利息收入4600萬美元及出售物業、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8750萬美元，(ii)利息付款5200萬美元，(iii)股息付款2890萬美元，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。
24華虹半導體有限公司管理層討論及分析
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244008193035
長期銀行貸款的即期部分－無抵押3026–
247034193035
非流動有抵押銀行貸款17403731786526無抵押銀行貸款224583120000
19649561906526
22119902099561
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
20.996億美元。銀行借款包括有抵押計息借款19.844億美元及無抵押計息借款2.276億美元。2.536億美元銀行借款的固定
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2187134000美元（二零二三年十二月三十一日：1487211000美元）的若干物業、廠房及設備、47248000美元（二零二三年十二月三十一日：44319000美元）的使用權資產、86029000
美元（二零二三年十二月三十一日：86565000美元）的發展中物業以及30869000美元（二零二三年十二月三十一日：31062000美元）的已抵押存款已抵押予銀行以取得本集團的銀行信貸融資。
於二零二四年六月三十日，已抵押賬面值為304000美元（二零二三年十二月三十一日：306000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7395000美元（二零二三年十二月三十一日：27000美元）的其他已抵押存款，以向股東支付股息。
2024年中期報告25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3500萬美元。
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407750000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125000009705574二零二五年底前
8英寸廠優化升級項目20000001891860二零二五年底前
特色工藝技術創新研發項目25000002071467二零二六年底前補充流動資金10000000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。
26華虹半導體有限公司管理層討論及分析
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
8英寸產能利用率超過100%，12英寸產能利用率接近滿產，連續兩個季度營收環比呈正增長，尤其是模擬與電源管理平台業績尤為亮眼。
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。
2024年中期報告27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。
28 華虹半導體有限公司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
29 August 2024 二零二四年八月二十九日
2024年中期報告 INTERIM REPORT 2024 29INTERIM 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
30 June
截至六月三十日止六個月
20242023
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 938510 1262223
Cost of sales 銷售成本 (858815) (884970)
Gross profit 毛利 79695 377253
Other income and gains 其他收入及收益 71095 50679
Selling and distribution expenses 銷售及分銷費用 4 (4770) (5090)
Administrative expenses 管理費用 (164078) (147839)
Other expenses 其他費用 (13813) (46126)
Finance costs 財務費用 (49432) (56700)
Share of profits of associates 分佔聯營公司溢利 2805 3504
2805
(LOSS)/PROFIT BEFORE TAX 稅前（虧損）╱溢利 5 (78498) 175681
Income tax credit/(expense) 所得稅抵免╱（開支） 6 11464 (26945)
(LOSS)/PROFIT FOR THE PERIOD 期內（虧損）╱溢利 (67034) 148736
Attributable to: 以下各項應佔：
Owners of the parent 母公司擁有人 38491 230758
Non-controlling interests 非控股權益 (105525) (82022)
(67034)148736
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
0.022美元0.176美元
Diluted 攤薄
– For profit for the period －期內溢利 US$0.022 US$0.175
0.022美元0.175美元
30 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司INTERIM CONDENSED CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 JUNE 2024截至二零二四年六月三十日止六個月中期簡明綜合全面收益表
For the six months ended
30 June
截至六月三十日止六個月
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）（US$’000） （US$’000）（千美元）（千美元）
(LOSS)/PROFIT FOR THE PERIOD 期內（虧損）╱溢利 (67034) 148736
OTHER COMPREHENSIVE LOSS 其他全面虧損
Other comprehensive loss that may be 於其後期間可能重新分類至
reclassified to profit or loss in subsequent 損益的其他全面虧損：
periods:
Exchange differences on translation of foreign 換算海外業務產生的外匯差額
operations (49338) (169717)
Net other comprehensive loss that may be 於其後期間可能重新分類至
reclassified to profit or loss in subsequent 損益的其他全面虧損淨額
periods (49338) (169717)
Other comprehensive loss that will not be 於其後期間不會重新分類至
reclassified to profit or loss in subsequent 損益的其他全面虧損：
periods:
Equity investments designated at fair value 指定按公平值計入其他全面
through other comprehensive income: 收益的股權投資：
Changes in fair value 公平值變動 (436) (20548)
Income tax effect 所得稅影響 65 3082
Net other comprehensive loss that will not be 於其後期間不會重新分類至損益
reclassified to profit or loss in subsequent 的其他全面虧損淨額
periods (371) (17466)
OTHER COMPREHENSIVE LOSS FOR 期內其他全面虧損，扣除稅項THE PERIOD NET OF TAX (49709) (187183)
TOTAL COMPREHENSIVE LOSS FOR 期內全面虧損總額
THE PERIOD (116743) (38447)
Attributable to: 以下各項應佔：
Owners of the parent 母公司擁有人 3062 95074
Non-controlling interests 非控股權益 (119805) (133521)
(116743)(38447)
2024年中期報告 INTERIM REPORT 2024 31INTERIM CONDENSED CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
中期簡明綜合財務狀況表 30 JUNE 2024二零二四年六月三十日
30 June 31 December
20242023
二零二四年二零二三年六月三十日十二月三十一日
(Unaudited) (Audited)（未經審核）（經審核）
Notes (US$’000) (US$’000)附註（千美元）（千美元）
NON-CURRENT ASSETS 非流動資產
Property plant and equipment 物業、廠房及設備 9 3750176 3519292
Right-of-use assets 使用權資產 80629 78545
Investment property 投資物業 165611 166643
Intangible assets 無形資產 42320 49827
Investment in associates 於聯營公司的投資 141036 139099
Equity instruments designated at fair value 指定按公平值計入其他
through other comprehensive income 全面收益的權益工具 285938 270506
Long term prepayments 長期預付款項 139425 149953
Deferred tax assets 遞延稅項資產 629 –
Total non-current assets 非流動資產總額 4605764 4373865
CURRENT ASSETS 流動資產
Properties under development 發展中物業 207151 178828
Inventories 存貨 462563 449749
Trade and notes receivables 貿易應收款項及應收票據 10 274382 278669
Prepayments other receivables and 預付款項、其他應收款項及
other assets 其他資產 75761 33821
Due from related parties 應收關聯方款項 16034 11219
Pledged deposits 已抵押存款 39259 32088
Cash and cash equivalents 現金及現金等價物 6423866 5585181
Total current assets 流動資產總額 7499016 6569555
CURRENT LIABILITIES 流動負債
Trade payables 貿易應付款項 11 246206 235410
Other payables and accruals 其他應付款項及暫估費用 505945 430478
Interest-bearing bank borrowings 計息銀行借款 247034 193035
Lease liabilities 租賃負債 4674 3076
Government grants 政府補助 39359 35017
Due to related parties 應付關聯方款項 8340 13876
Income tax payable 應付所得稅 19038 61495
Total current liabilities 流動負債總額 1070596 972387
NET CURRENT ASSETS 流動資產淨額 6428420 5597168
TOTAL ASSETS LESS CURRENT 資產總值減流動負債
LIABILITIES 11034184 9971033
continued/?
續╱?
32 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL
POSITION
30 JUNE 2024
二零二四年六月三十日中期簡明綜合財務狀況表
30 June 31 December
20242023
二零二四年二零二三年六月三十日十二月三十一日
(Unaudited) (Audited)（未經審核）（經審核）
Notes (US$’000) (US$’000)附註（千美元）（千美元）
NON-CURRENT LIABILITIES 非流動負債
Interest-bearing bank borrowings 計息銀行借款 1964956 1906526
Lease liabilities 租賃負債 19440 19129
Deferred tax liabilities 遞延稅項負債 4892 30834
Total non-current liabilities 非流動負債總額 1989288 1956489
Net assets 資產淨額 9044896 8014544
EQUITY 權益
Equity attributable to owners of the 母公司擁有人應佔權益
parent
Share capital 股本 12 4935470 4933559
Reserves 儲備 1333799 1367436
Total equity attributable to owners of the 母公司擁有人應佔權益總額
parent 6269269 6300995
Non-controlling interests 非控股權益 2775627 1713549
Total equity 權益總額 9044896 8014544
Suxin Zhang Jun Ye張素心葉峻
Director Director董事董事
2024年中期報告 INTERIM REPORT 2024 33INTERIM CONDENSED CONSOLIDATED STATEMENT OF
CHANGES IN EQUITY
中期簡明綜合權益變動表 FOR THE SIX MONTHS ENDED 30 JUNE 2024截至二零二四年六月三十日止六個月
Attributable to owners of the parent母公司擁有人應佔
Share
of other Other
Share comprehensive reserve and Asset Statutory Exchange
Share Merger option income of contributed Fair value revaluation reserve fluctuation Retained Non-controlling Total
capital reserve reserve associates surplus reserve reserve# fund reserve profits Total interests equity購股權分佔聯營公司的其他儲備及公平值資產法定匯兌
股本合併儲備儲備其他全面收益供款盈餘儲備重估儲備#儲備基金波動儲備留存溢利總計非控股權益權益總額
US$’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4933559645494*12794*1352*35685*58435*99257*233042*(60233)*341610*630099517135498014544
Profit/(loss) for the period 期內溢利╱（虧損） – – – – – – – – – 38491 38491 (105525) (67034)
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 – – – – – – – – (3505 8) – (3505 8) (1428 0) (4933 8)
Total comprehensive (loss)/ 期內全面（虧損）╱收益
income for the period 總額 – – – – – (371) – – (35058) 38491 3062 (119805) (116743)
Dividend declared 已宣派股息 – – – – – – – – (36233) (36233) – (36233)
Issue of shares (note 12) 發行股份（附註12） 1911 – (474) – – – – – – – 1437 – 1437
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 – – – – – – – – – – – 1181880 1181880
Transfer from retained 轉撥自一間子公司產生
profits generated by a 的留存溢利
subsidiary – – – – – – – 1187 0 – (1187 0) – – –
At 30 June 2024 於二零二四年六月三十
(unaudited) 日（未經審核） 4935470 645494* 12328* 1352* 35685* 58064* 99257* 244912* (95291)* 331998* 6269269 2775627 9044896
At 1 January 2023 於二零二三年
一月一日199446264549413346–35685(22247)99257191125(30145)103493303047011049984135468
Profit/(loss) for the period 期內溢利╱（虧損） – – – – – – – – – 230758 230758 (82022) 148736
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 – – – – – (17466) – – – – (17466) – (17466)
Exchange differences 換算海外業務產生的
on translation of 外匯差額
foreign operations – – – – – – – – (118218) – (118218) (51499) (169717)
Total comprehensive (loss)/ 期內全面（虧損）╱收益
income for the period 總額 – – – – – (17466) – – (118218) 230758 95074 (133521) (38447)
Issue of shares (note 12) 發行股份（附註12） 3367 – (822) – – – – – – – 2545 – 2545
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 – – – – – – – – – – – 295470 295470
Transfer from retained 轉撥自一間子公司產生
profits generated by a 的留存溢利
subsidiary – – – – – – – 29259 – (29259) – – –
At 30 June 2023 於二零二三年六月三十
(unaudited) 日（未經審核） 1997829 645494 12631 – 35685 (39713) 99257 220384 (148363) 304992 3128196 1266980 4395176
34 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES
IN EQUITY
FOR THE SIX MONTHS ENDED 30 JUNE 2024截至二零二四年六月三十日止六個月中期簡明綜合權益變動表
# 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$1333799000 (31 December 2023: US$1367436000) in the 表內之綜合儲備1333799000美元（二零interim condensed consolidated statement of financial position. 二三年十二月三十一日：1367436000美元）。
2024年中期報告 INTERIM REPORT 2024 35INTERIM CONDENSED CONSOLIDATED STATEMENT OF
CASH FLOWS
中期簡明綜合現金流量表 FOR THE SIX MONTHS ENDED 30 JUNE 2024截至二零二四年六月三十日止六個月
FOR THE SIX MONTHS
ENDED 30 JUNE截至六月三十日止六個月
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’000) (US$’000)（千美元）（千美元）
CASH FLOWS FROM OPERATING ACTIVITIES 經營活動所得現金流量
(Loss)/profit before tax 稅前（虧損）╱溢利 (78498) 175681
Adjustments for: 就以下各項作出的調整：
Finance costs 財務費用 49432 56700
Share of profits of associates 分佔聯營公司溢利 (2805) (3504)
Interest income 利息收入 (54808) (25421)
Loss on disposal of items of property plant and 出售物業、廠房及設備
equipment 項目的虧損 42 16
Depreciation of property plant and equipment 物業、廠房及設備折舊 258527 234954
Amortisation of intangible assets 無形資產攤銷 8272 5836
Depreciation of right-of-use assets 使用權資產折舊 3170 3209
(Reversal of impairment)/impairment of trade 貿易應收款項
receivables （減值轉回）╱減值 (438) 319
Equity-settled share option expense 以權益結算的購股權開支 11 140
182905447930
(Increase)/decrease in inventories 存貨（增加）╱減少 (12814) 43287
Increase in properties under development 發展中物業增加 (28323) (8951)貿易應收款項及應收
Decrease/(increase) in trade and notes receivables 票據減少╱（增加） 4740 (19113)
(Increase)/decrease in prepayments other 預付款項、其他應收款項及
receivables and other assets 其他資產（增加）╱減少 (32387) 17084
Increase in amounts due from related parties 應收關聯方款項增加 (4815) (3797)
Increase in pledged deposits 已抵押存款增加 (198) –
Increase/(decrease) in trade payables 貿易應付款項增加╱（減少） 10796 (9092)其他應付款項及暫估費用
Increase/(decrease) in other payables and accruals 增加╱（減少） 75872 (99536)
Increase/(decrease) in government grants 政府補助增加╱（減少） 4582 (1873)
Decrease in amounts due to related parties 應付關聯方款項減少 (5536) (1376)
Cash generated from operations 經營產生的現金 194822 364563
Income tax paid 已付所得稅 (57272) (71505)
Net cash flows generated from 經營活動所得現金流量淨額
operating activities 137550 293058
continued/?
續╱?
36 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH
FLOWS
FOR THE SIX MONTHS ENDED 30 JUNE 2024截至二零二四年六月三十日止六個月中期簡明綜合現金流量表
FOR THE SIX MONTHS
ENDED 30 JUNE截至六月三十日止六個月
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’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 45990 27646
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(499404)(381586)
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 (17618) –
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 (470924) (353930)
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 202447 21088
Proceeds from issue of shares 發行股份所得款項 693 2849
Capital contribution from non-controlling interests 非控股權益出資 1181880 296197
Repayment of bank loans 償還銀行貸款 (87530) (128092)
Increase in pledged deposits 已抵押存款增加 (7369) (167738)
Interest paid 已付利息 (51955) (57533)
Principal portion of lease payments 支付租賃本金部分 (3229) (3093)
Dividends paid 已付股息 (28876) –
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 1206061 (36934)
NET INCREASE/(DECREASE) IN CASH AND CASH 現金及現金等價物增加╱
EQUIVALENTS （減少）淨額 872687 (97806)
Cash and cash equivalents at beginning of period 期初現金及現金等價物 5585181 2008765
Effect of foreign exchange rate changes net 外匯匯率變動影響，淨額 (34002) (60002)CASH AND CASH EQUIVALENTS AT END OF 期末現金及現金等價物
PERIOD 6423866 1850957
2024年中期報告 INTERIM REPORT 2024 37NOTES 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
1. CORPORATE INFORMATION 1. 公司資料
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
2005. The registered office of the Company is located at Room 成立的有限公司。本公司的註冊辦事處
2212 Bank of America Tower 12 Harcourt Road Central 位於香港中環夏愨道12號美國銀行中心
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.
2.1 BASIS OF PREPARATION 2.1 編製基準
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:
38 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
2.1 BASIS OF PREPARATION (CONTINUED) 2.1 編製基準（續）
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
407(3) of the Hong Kong Companies Ordinance. 有按香港公司條例第406(2)、407(2)或
407(3)條所指的陳述。
2.2 CHANGES IN ACCOUNTING POLICIES AND 2.2 會計政策的變動及披露
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
31 December 2023 except for the adoption of the following 次採納下列新訂及經修訂香港財務報告
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.
2024年中期報告 INTERIM REPORT 2024 39NOTES 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
3. OPERATING SEGMENT INFORMATION 3. 經營分部資料
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
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’000) (US$’000)（千美元）（千美元）
China (including Hong Kong) 中國（包括香港） 751214 966424
North America 北美洲 93070 119307
Asia (excluding China and Japan) 亞洲（不包括中國及日本） 51703 84248
Europe 歐洲 38912 77309
Japan 日本 3611 14935
Total 總計 938510 1262223
40 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
4. REVENUE AND OTHER INCOME AND GAINS 4. 收入、其他收入及收益
An analysis of revenue and other income and gains is as 對收入、其他收入及收益的分析如下：
follows:
For the six months
ended 30 June截至六月三十日止六個月
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’000) (US$’000)（千美元）（千美元）
Revenue from contracts with customers 客戶合約收入
Sale of goods 銷售貨品 938510 1262223
Other income and gains 其他收入及收益
Rental income 租金收入 7118 7384
Interest income 利息收入 54808 25421
Government subsidies 政府補貼 8577 15001
Others 其他 592 2873
7109550679
2024年中期報告 INTERIM REPORT 2024 41NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註 30 June 2024二零二四年六月三十日
4. REVENUE AND OTHER INCOME AND GAINS 4. 收入、其他收入及收益（續）
(CONTINUED)
An analysis of revenue and other income and gains is as 對收入、其他收入及收益的分析如下：
follows: (continued) （續）
For the six months
ended 30 June截至六月三十日止六個月
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’000) (US$’000)（千美元）（千美元）
Type of goods or service 貨品或服務類型
Sales of semiconductor products and total 半導體產品的銷售和
revenue from contracts with customers 來自客戶合約的總收入 938510 1262223
Timing of revenue recognition 收入確認時間
Goods transferred at a point in time and total 在某一時點轉讓的貨品及
revenue from contracts with customers 來自客戶合約的總收入 938510 1262223
The disaggregation of the Group’s revenue based on the 截至二零二四年六月三十日止六個月，geographical region for the six months ended 30 June 2024 is 本集團基於地區的收入分類載列於附註
included in note 3. 3。
5. PROFIT BEFORE TAX 5. 稅前溢利
The Group’s profit before tax is arrived at after charging/ 本集團的稅前溢利乃於扣除╱（計入）下
(crediting): 列各項後達致：
For the six months
ended 30 June截至六月三十日止六個月
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’000) (US$’000)（千美元）（千美元）
Cost of inventories sold 已售存貨成本 858815 884970
(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 (8237) 20697
(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 13770 46110
42 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
6. INCOME TAX 6. 所得稅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：
2023: 16.5%). No provision for Hong Kong profits tax has been 16.5%）的稅率繳納利得稅。由於本公司
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.
2024年中期報告 INTERIM REPORT 2024 43NOTES 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
6. INCOME TAX (CONTINUED) 6. 所得稅（續）
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
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’000) (US$’000)（千美元）（千美元）
Current income tax expense – PRC 當期所得稅開支－中國 15035 47071
Current income tax expense – elsewhere 當期所得稅開支－其他地區 2 26
Deferred tax 遞延稅項 (26501) (20152)
Total income tax (credit)/expense 所得稅（抵免）╱開支總額 (11464) 26945
7. EARNINGS PER SHARE ATTRIBUTABLE 7. 母公司普通股權持有人應佔每
TO ORDINARY EQUITY HOLDERS OF THE 股盈利
PARENT
The calculation of the basic earnings per share amounts is 每股基本盈利金額乃基於母公司普通股
based on the profit for the period attributable to ordinary equity 權持有人應佔期內溢利及於期內已發行holders of the parent and the weighted average number of 1716776029股（截至二零二三年六月ordinary shares of 1716776029 in issue during the period (six 三十日止六個月：1307657291股）普
months ended 30 June 2023: 1307657291). 通股的加權平均數計算。
The calculation of the diluted earnings per share amount 每股已攤薄盈利金額乃根據母公司普通
is based on the profit for the period attributable to ordinary 股權持有人應佔期內溢利計算。計算時equity holders of the parent. The weighted average number 採用之普通股加權平均數為計算每股基
of ordinary shares used in the calculation is the number of 本盈利時採用之期內已發行普通股數目
ordinary shares in issue during the period as used in the basic 加上假設所有潛在攤薄普通股被視為行
earnings per share calculation and the weighted average 使或兌換為普通股時以零代價發行之普
number of ordinary shares assumed to have been issued at 通股加權平均數。
no consideration on the deemed exercise or conversion of all
dilutive potential ordinary shares into ordinary shares.
44 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
7. EARNINGS PER SHARE ATTRIBUTABLE 7. 母公司普通股權持有人應佔每
TO ORDINARY EQUITY HOLDERS OF THE 股盈利（續）
PARENT (CONTINUED)
The calculations of basic and diluted earnings per share are 每股基本及攤薄盈利的計算乃基於：
based on:
For the six months
ended 30 June截至六月三十日止六個月
20242023
二零二四年二零二三年
(Unaudited) (Unaudited)（未經審核）（未經審核）
(US$’000) (US$’000)（千美元）（千美元）
Earnings 盈利
Profit attributable to ordinary equity holders of the 用於計算每股基本盈利的
parent used in the basic earnings per share 母公司普通股權持有人
calculation 應佔溢利 38491 230758
Number of shares股份數目
For the six months
ended 30 June截至六月三十日止六個月
20242023
二零二四年二零二三年
(’000)(’000)（千股）（千股）
Shares 股份
Weighted average number of ordinary shares 用於計算每股基本盈利的
in issue during the period used in the basic 期內已發行普通股
earnings per share calculation 加權平均數 1716776 1307657
Effect of dilution-weighted average number of 普通股攤薄加權平均數的
ordinary shares: 影響：
Share options 購股權 2675 11002
Total 總計 1719451 1318659
2024年中期報告 INTERIM REPORT 2024 45NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註 30 June 2024二零二四年六月三十日
8. DIVIDENDS 8. 股息
For the six months
ended 30 June截至六月三十日止六個月
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Final declared and paid 已宣派及派付末期股息 28876 –
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） 7357 –
Total 總計 36233 –
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$36233000 (HK$16.5 cents per ordinary 息，總金額為36233000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）。
46 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
9. PROPERTY PLANT AND EQUIPMENT 9. 物業、廠房及設備
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$511788000 (six months 的成本為511788000美元（截至ended 30 June 2023: US$246129000). 二零二三年六月三十日止六個月：
246129000美元）。
* Depreciation for items of property plant and equipment * 期內物業、廠房及設備項目的折was US$258527000 during the period (six months ended 舊為258527000美元（截至二
30 June 2023: US$234954000). 零二三年六月三十日止六個月：
234954000美元）。
* Assets with a net book value of US$56000 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2024 (six months ended 30 June 2023: US$45000). 56000美元的資產（截至二零二三年六月三十日止六個月：45000美元）。
10. TRADE AND NOTES RECEIVABLES 10. 貿易應收款項及應收票據
30 June 31 December
20242023
二零二四年二零二三年六月三十日十二月三十一日
(Unaudited) (Audited)（未經審核）（經審核）
(US$’000) (US$’000)（千美元）（千美元）
Trade receivables 貿易應收款項 214852 214414
Notes receivable 應收票據 61773 66951
276625281365
Impairment of trade receivables 貿易應收款項減值 (2243) (2696)
Total 總計 274382 278669
2024年中期報告 INTERIM REPORT 2024 47NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
中期簡明綜合財務資料附註 30 June 2024二零二四年六月三十日
10. TRADE AND NOTES RECEIVABLES 10. 貿易應收款項及應收票據（續）
(CONTINUED)
An ageing analysis of the trade receivables based on the 按發票日期計，貿易應收款項（扣除撥備）invoice date and net of provisions is as follows: 的賬齡分析如下：
30 June 31 December
20242023
二零二四年二零二三年六月三十日十二月三十一日
(Unaudited) (Audited)（未經審核）（經審核）
(US$’000) (US$’000)（千美元）（千美元）
Within 3 months 3個月以內 213283 232485
Over 3 and within 6 months 超過3個月且於6個月內 60113 43762
Over 6 months and within 1 year 超過6個月且於1年內 986 2422
Total 總計 274382 278669
11. TRADE PAYABLES 11. 貿易應付款項
An ageing analysis of the trade payables of the Group as at 於報告期末按發票日期計，本集團貿易應the end of the reporting period based on the invoice date is 付款項的賬齡分析如下：
as follows:
30 June 31 December
20242023
二零二四年二零二三年六月三十日十二月三十一日
(Unaudited) (Audited)（未經審核）（經審核）
(US$’000) (US$’000)（千美元）（千美元）
Within 1 month 1個月以內 121164 149116
Over 1 but within 3 months 超過1個月但於3個月內 70747 42579
Over 3 but within 6 months 超過3個月但於6個月內 30709 16166
Over 6 but within 12 months 超過6個月但於12個月內 9520 11158
Over 12 months 12個月以上 14066 16391
Total 總計 246206 235410
48 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
12. SHARE CAPITAL 12. 股本
Number of Amount of
shares in issue share capital已發行股份數目股本金額
(’000) (US$’000)（千股）（千美元）
1 January 2024 二零二四年一月一日 1716589 4933559
Issue of shares with exercise of share options 發行可行使購股權的股份 739 1911
30 June 2024 (unaudited) 二零二四年六月三十日（未經審核）17173284935470
1 January 2023 二零二三年一月一日 1306837 1994462
Issue of shares with exercise of share options 發行可行使購股權的股份 1310 3367
30 June 2023 (unaudited) 二零二三年六月三十日（未經審核）13081471997829
13. COMMITMENTS 13. 承擔
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:
30 June 31 December
20242023
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 2974585 1258232
2024年中期報告 INTERIM REPORT 2024 49NOTES 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
14. RELATED PARTY TRANSACTIONS 14. 關聯方交易
(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
50 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
14. RELATED PARTY TRANSACTIONS 14. 關聯方交易（續）
(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
20242023
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 9110 7698
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 16699 10804
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 7016 7040
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 13585 14338
2024年中期報告 INTERIM REPORT 2024 51NOTES 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
14. RELATED PARTY TRANSACTIONS 14. 關聯方交易（續）
(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。
52 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
14. RELATED PARTY TRANSACTIONS 14. 關聯方交易（續）
(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
20242023
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 2282 1869
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 2394 2052
15. FAIR VALUE AND FAIR VALUE HIERARCHY 15. 金融工具的公平值及公平值層
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
30 June 31 December 30 June 31 December
2024202320242023
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 285938 270506 285938 270506
Financial liabilities 金融負債
Interest-bearing bank borrowings 計息銀行借款 1964956 1906526 1967202 1911206
2024年中期報告 INTERIM REPORT 2024 53NOTES 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
15. FAIR VALUE AND FAIR VALUE HIERARCHY 15. 金融工具的公平值及公平值層
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.
54 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
15. FAIR VALUE AND FAIR VALUE HIERARCHY 15. 金融工具的公平值及公平值層
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
30 June 2024 二零二四年六月三十日
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 1980 281027 2931 285938
2024年中期報告 INTERIM REPORT 2024 55NOTES 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
15. FAIR VALUE AND FAIR VALUE HIERARCHY 15. 金融工具的公平值及公平值層
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）
31 December 2023 二零二三年十二月三十一日
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 2429 265128 2949 270506
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）。
56 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
15. FAIR VALUE AND FAIR VALUE HIERARCHY 15. 金融工具的公平值及公平值層
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 Signi cant 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
4.5x-11.9x in increase/decrease in fair
value by 5% (31 December
2023:5%)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%)
2023:20%-30% increase/decrease would result
in decrease/increase in fair
value by 5% (31 December
2023:5%)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%）
2024年中期報告 INTERIM REPORT 2024 57NOTES 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
15. FAIR VALUE AND FAIR VALUE HIERARCHY 15. 金融工具的公平值及公平值層
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）
1 January 2024 二零二四年一月一日 2949
Exchange realignment 匯兌調整 (18)
30 June 2024 (unaudited) 二零二四年六月三十日（未經審核） 2931
1 January 2023 二零二三年一月一日 176190
Total loss recognised in other comprehensive income 於其他全面收益確認的虧損總額 (20250)
Exchange realignment 匯兌調整 (6168)
30 June 2023 (unaudited) 二零二三年六月三十日（未經審核） 149772
58 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL
INFORMATION
30 June 2024
二零二四年六月三十日中期簡明綜合財務資料附註
16. SHARE OPTION SCHEME 16. 購股權計劃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
20242023
二零二四年二零二三年
(’000)(’000)（千份）（千份）
At 1 January 於一月一日 21422 23438
Exercised during the period 期內行使 (739) (1310)
Forfeited during the period 期內沒收 (205) (13)
At 30 June 於六月三十日 20478 22115
17. EVENT AFTER THE REPORTING PERIOD 17. 報告期後事項
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.
18. APPROVAL OF THE INTERIM CONDENSED 18. 批准中期簡明綜合財務資料
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。
29 August 2024.
2024年中期報告 INTERIM REPORT 2024 59OTHER 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
1 September 2015 which became effective on 4 零一五年九月四日起生效。該購股權計劃自採納之日起七
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20477972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 20477972 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
2024:
60 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司OTHER DISCLOSURES
30 June 2024
二零二四年六月三十日其他披露資料
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 – 988000 – 29262000 – – 30250000於二零一五年九月四日授出
Granted on 24 December 2018 – – 680000 – 33820000 – 34500000於二零一八年十二月二十四日授出
Granted on 29 March 2019 500000 – – – – – 500000於二零一九年三月二十九日授出
Granted on 23 December 2019 – – – – – 2482000 2482000於二零一九年十二月二十三日授出
Cancelled/lapsed during the year 2015 – – – -130000 – – -130000
於二零一五年註銷╱失效
Cancelled/lapsed during the year 2016 – – – -1458000 – – -1458000
於二零一六年註銷╱失效
Cancelled/lapsed during the year 2017 – – – -1353399 – – -1353399
於二零一七年註銷╱失效
Cancelled/lapsed during the year 2018 – – – -754595 – – -754595
於二零一八年註銷╱失效
Cancelled/lapsed during the year 2019 – – -600000 -58000 -1035000 -36000 -1729000
於二零一九年註銷╱失效
Cancelled/lapsed during the year 2020 – -119000 -80000 – -993904 -84000 -1276904
於二零二零年註銷╱失效
Cancelled/lapsed during the year 2021 -62500 – – – -5751868 -592993 -6407361
於二零二一年註銷╱失效
Cancelled/lapsed during the year 2022 – – – – -543728 -73983 -617711
於二零二二年註銷╱失效
Cancelled/lapsed during the year 2023 -8168 -6900 -15068
於二零二三年註銷╱失效
Exercised during the period – – – – 705951 33500 739451期內行使
Cancelled during the period – – – – – – –期內註銷
Lapsed during the period – – – – -87758 -116668 -204426期內失效
Outstanding as at 1 January 2024 437500 – – – 19468191 1516248 21421849於二零二四年一月一日尚未行使
Outstanding as at 30 June 2024 437500 – – – 18674392 1366080 20477972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
2024年中期報告 INTERIM REPORT 2024 61OTHER DISCLOSURES
其他披露資料 30 June 2024二零二四年六月三十日
Notes: 附註：
1 Subject to conditions as set out in the grant notice one 1 在符合授予通知中規定的條件的前提下，期權的四分之一
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
2021 12 August 2022 11 August 2023 and 9 August 日、二零二三年八月十一日及二零二四年八月九日歸屬
2024
2 Subject to conditions as set out in the grant notices one 2 在符合授予通知中規定的條件的前提下，期權的三分之一
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
2017 4 September 2018 and 4 September 2019 一九年九月四日歸屬
3 Subject to conditions as set out in the grant notices for 3 在符合授予通知中規定的條件的前提下，就副總裁或以上
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
2020 24 December 2021 and 24 December 2022 四日歸屬
4 Subject to conditions as set out in the grant notices for 4 在符合授予通知中規定的條件的前提下，就副總裁或以上
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
2021 23 December 2022 and 23 December 2023 三日歸屬
5 The exercise period of share options is from 29 March 5 購股權之行使期為二零二一年三月二十九日至二零二六年
2021 to 28 March 2026 三月二十八日
6 The exercise period of share options is from 4 September 6 購股權之行使期為二零一七年九月四日至二零二二年九月
2017 to 3 September 2022 三日
7 The exercise period of share options is from 24 7 購股權之行使期為二零二零年十二月二十四日至二零二五
December 2020 to 23 December 2025 年十二月二十三日
8 The exercise period of share options is from 23 8 購股權之行使期為二零二一年十二月二十三日至二零二六
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.
62 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司OTHER DISCLOSURES
30 June 2024
二零二四年六月三十日其他披露資料
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。
352 of the SFO or as otherwise notified to the Company
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4485000.03%
Note: 附註：
(1) Including (i) long position in 437500 underlying shares (1) 包括(i)按購股權計劃授出的購股權項下於本公司437500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) 11000 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 11000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61of 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
2024 respectively.
2024年中期報告 INTERIM REPORT 2024 63OTHER 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 347605650(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 347605650(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 1198517(3) 0.07%法定及實益擁有人
Sino-Alliance International Ltd. Legal and beneficial owner 160545541(1)(4) 9.35%
(Sino-Alliance International)法定及實益擁有人
Sino-Alliance International Ltd. Interest in a controlled 28415606(1) 1.65%
(Sino-Alliance International) corporation受控制法團權益
Shanghai Alliance Investment Interest in a controlled 188961147(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 168262925(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 168262925(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 168262925(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
64 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司OTHER DISCLOSURES
30 June 2024
二零二四年六月三十日其他披露資料
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 1198517 A (3) 華虹集團直接持有合共1198517股A股股份。
shares.
(4) Including 3084 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3084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 ethrough 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1717328145股股份）計算。
2024 i.e. 1717328145 shares.
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
30 June 2024 no other person or corporation had any 以外的其他人士或法團於本公司任何股份或相關股份中有
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
2024.
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%).
2024年中期報告 INTERIM REPORT 2024 65OTHER 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
7000 employees in the PRC and overseas (30 7000名僱員（二零二三年六月三十日：約6700名）。本
June 2023: approximately 6700). 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 REFUSALHuahong 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.
66 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司OTHER DISCLOSURES
30 June 2024
二零二四年六月三十日其他披露資料
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
30 June 2024 and has discussed with management the 論。
accounting principles and practices adopted by the
Group internal controls and financial reporting matters.
2024年中期報告 INTERIM REPORT 2024 67OTHER 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
2024 containing information required by Appendix D2 三十日止六個月的中期報告，將於適當時候寄發予股東
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
68 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司www.huahonggrace.com
