Guangdong Huicheng Vacuum Technology Co., Ltd.
2026 Annual Report on the Feasibility Analysis of Issuing A-shares to Specific Objects
Guangdong Huicheng Vacuum Technology Co., Ltd. (hereinafter referred to as "the Company," "Huicheng Vacuum," or "the Issuer"), a company listed on the ChiNext market of the Shenzhen Stock Exchange, in order to meet the capital needs of its business development, enhance its profitability, and improve its overall competitiveness, is considering its actual situation and, in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," and the "Administrative Measures for the Registration of Securities Issuances by Listed Companies" (hereinafter referred to as the "Administrative Measures"), plans to issue A-shares to specific objects (hereinafter referred to as "this Offering"). The total amount of capital to be raised shall not exceed RMB 955,000,000, after deducting issuance expenses, which will be used for: 1. "Industrialization Project of Ultra-precision Semiconductor and Continuous PVD Equipment," to achieve capacity reserves for ultra-precision optical coating equipment, TGV micro-hole coating equipment, and continuous coating equipment, and other PVD equipment; 2. Supplementing working capital for the Company's main business.
Unless otherwise specified, the abbreviations and terms in this feasibility analysis report are the same as those defined in the "Guangdong Huicheng Vacuum Technology Co., Ltd. 2026 Plan for Issuing A-shares to Specific Objects."
I. Background and Objectives of This Offering
(I) Background of This Offering
- The rapid development of the semiconductor industry coupled with national policy support makes the localization of the entire industry chain a necessary trend.
The semiconductor industry is a leading and strategic industry for the development of the modern economy and society, and it is the cornerstone of the electronic information industry. With the advancement of semiconductor technology, improvement of processing capabilities, and expansion of downstream market demand, the global and Chinese semiconductor markets have shown significant growth in recent years. According to statistics from the World Semiconductor Trade Statistics (WSTS), the global semiconductor market size is expected to grow from US$468.8 billion in 2018 to US$791.7 billion in 2025, with an average annual compound growth rate of 7.77%. According to statistics and forecasts from the China Semiconductor Industry Association, China's semiconductor industry sales revenue is expected to expand from RMB 919.0 billion in 2018 to RMB 21,367.7 billion in 2025, with an average annual compound growth rate of up to 12.81%. In the future, while supporting the transformation and upgrading of traditional industries, with the vigorous development of emerging fields such as AI computing power, smart terminals, industrial automation, robotics, and new energy and energy storage, the semiconductor industry, as the underlying technological support, will maintain a high growth momentum.
As a major global manufacturing country and consumer market for electronic products, China's electronic information industry has continued to develop rapidly, and its global position has been rapidly enhanced, providing good opportunities for the development of China's semiconductor industry. A complete semiconductor industry chain, including chip design, wafer manufacturing, and packaging and testing, has initially been formed. However, key areas of the semiconductor industry chain are still facing "bottlenecks" and a lack of coordinated industrial chain ecosystem, leading to a gap between China and developed countries like the US, Europe, Japan, and South Korea in some core areas. High-end chips and semiconductor equipment are still mainly imported. At the same time, frequent international geopolitical conflicts, trade disputes, and export controls on semiconductors to China by overseas countries have exacerbated the uncertainty of the global supply chain for high-end semiconductor materials. Against this backdrop, it is imperative to improve the safety and stability of the semiconductor industry chain and build a localized, full-chain supply system for the semiconductor industry.