香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。
HUA HONG SEMICONDUCTOR LIMITED
華虹半導體有限公司（於香港註冊成立之有限公司）（股份代號：01347）截至二零二四年十二月三十一日止年度全年業績公告
華虹半導體有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及其子公司截至二零二四年十二月三十一日止年度的經審核業績。
本公告載列本公司二零二四年年度報告全文，並符合香港聯合交易所有限公司（「香港聯交所」）證券上市規則有關全年業績初步公告附載資料之相關規定。
本公司二零二四年年度報告的印刷版本將於適當時候寄發予本公司股東，並可於香港聯交所網站 www.hkexnews.hk 及本公司網站 www.huahonggrace.com 進行查閱。
承董事會命華虹半導體有限公司董事會主席兼執行董事唐均君先生
中國上海，二零二五年三月二十七日於本公告日期，本公司董事分別為：
執行董事：
唐均君（董事會主席）白鵬（總裁）
非執行董事：
葉峻孫國棟陳博熊承艷
獨立非執行董事：
張祖同王桂壎太平紳士
封松林CONTENTS
Definitions 2
Key Financials 6
Letter to Shareholders 7
Corporate Information 9
Directors and Senior Management Team 12
Corporate Governance Report 22
Directors’ Report 34
2024 Environmental Social and Governance Report 66
Independent Auditor’s Report 293
Consolidated Statement of Profit or Loss 302
Consolidated Statement of Comprehensive Income 303
Consolidated Statement of Financial Position 304
Consolidated Statement of Changes in Equity 306
Consolidated Statement of Cash Flows 308
Notes to Financial Statements 310
Five Year Financial Summary 4122 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 3
DEFINITIONS
In this annual report unless otherwise required by the context the following terms shall have the meanings set out
below.“Annual General Meeting” or an annual general meeting of the Company to be held on 8 May 2025;
“AGM”
“Articles” the articles of association of the Company (as amended from time to time);
“Board” the Board of Directors of the Company;
“China IC Fund” China Integrated Circuit Industry Investment Fund Co. Ltd.* (國家集成電路產業投
資基金股份有限公司) a company incorporated in the PRC on 26 September 2014;
its shareholders include the Ministry of Finance the enterprises in the Integrated
Circuit Industry Cluster large-scale state-owned enterprises certain financial
institutions and private enterprises. It mainly focuses on the manufacturing of
semiconductor wafers and takes into account the upstream and downstream links
covering chip design package test equipment and materials etc;
“China IC Fund II” China Integrated Circuit Industry Investment Fund (Phase II) Co. Ltd.* (國家集成
電路產業投資基金二期股份有限公司) a company established in the PRC on 22
October 2019; its shareholders include the Ministry of Finance the enterprises in
the Integrated Circuit Industry Cluster large-scale state-owned enterprises certain
financial institutions and private enterprises. It mainly invests in the value chain of
the integrated circuit industry via equity investment primarily in integrated circuit
chip manufacturing as well as chip designing packaging test and equipment
and materials. To the best of the Directors’ knowledge information and belief and
having made all reasonable enquiry China IC Fund II is not an associate of China
IC Fund under Chapter 14A of the Listing Rules;
“Company” or Hua Hong Semiconductor Limited a company incorporated in Hong Kong with
“Hua Hong Semiconductor” limited liability on 21 January 2005 and except where otherwise required by the
context 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;
“Director(s)” the Director(s) of the Company;2 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 3
DEFINITIONS
“EPS” earnings per share;
“Extraordinary General Meeting” an extraordinary general meeting of the Company;
or “EGM”
“Grace Cayman” Grace Semiconductor Manufacturing Corporation an exempted company with
limited liability incorporated in the Cayman Islands on 5 October 1999 and a wholly
– owned subsidiary of our Company;
“Group” our Company and our subsidiaries or where required by the context with respect
to the period before our Company became the holding company of our present
subsidiaries (or became such associated companies of our Company) the business
operated by such subsidiaries or their predecessors (as the case may be);
“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 our Company;
“Hong Kong Stock Exchange” The Stock Exchange of Hong Kong Limited;4 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 5
DEFINITIONS
“Huahong Group” Shanghai Huahong (Group) Co. Ltd. (上海華虹（集團）有限公司) a company
incorporated in the PRC on 9 April 1996 as Shanghai Hua Hong Microelectronics
Co. Ltd. and renamed as Shanghai Huahong (Group) Co. Ltd. in 1998 and a
substantial shareholder of our Company;“Huahong Group Framework the framework agreement dated 30 December 2023 entered into between theAgreement” Company and Huahong Group to regulate the sales and purchase transactions and
provision of services between the Group and Huahong Group its subsidiaries or
associates (as defined under Chapter 14A of the Listing Rules) for the year ending
31 December 2024;
“Huahong Real Estate” Shanghai Huahong Real Estate Co. Ltd. (上海華虹置業有限公司) a company
incorporated in the PRC on 28 October 2011 and a wholly-owned subsidiary of
Huahong Technology Development;“Huahong Technology Shanghai Huahong Technology Development Co. Limited (上海華虹科技發展有限公Development” 司) a connected person a company incorporated in the PRC on 10 May 2010 and
a company 50% held by and consolidated with Huahong Group and 50% held by
HHGrace;
“Huajin Property Management” Shanghai Huajin Property Management Co. Ltd. (上海華錦物業管理有限公司) a
company incorporated in the PRC on 8 June 2012 a wholly-owned subsidiary of
Huahong Technology Development and a connected person of the Company;
“Huali Micro” Shanghai Huali Microelectronics Corporation (上海華力微電子有限公司) a company
incorporated in the PRC on 18 January 2010 and a connected person;
“Shanghai Huali” Huali Micro and its holding subsidiaries;
“Hua Hong Wuxi” Hua Hong Semiconductor (Wuxi) Limited a company incorporated in the PRC on
10 October 2017 and a non-wholly owned subsidiary of the Company held as to
approximately 22.22% 28.78% 20.00% 20.58% and 8.42% by the Company
HHGrace Wuxi Xi Hong Guo Xin China IC Fund and China IC Fund II respectively;“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 a non-
wholly owned subsidiary of the Company held as to approximately 21.90% 29.10%
20.00% and 29.00% by the Company HHGrace Wuxi Xi Hong Lian Xin and China
IC Fund II respectively;4 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 5
DEFINITIONS
“Listing Rules” the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong
Limited as amended or supplemented from time to time;
“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 are listed and became
available for trading on the STAR Market on 7 August 2023;
“SAIL” Shanghai Alliance Investment Limited (上海聯和投資有限公司) a company
incorporated in the PRC on 26 September 1994 a substantial shareholder of our
Company;
“SFC” the Securities and Futures Commission of Hong Kong;
“SFO” the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as
amended or supplemented from time to time;
“STAR Market” the Science and Technology Innovation Board of the Shanghai Stock Exchange;
“Wuxi Xi Hong Guo Xin” Wuxi Xi Hong Guo Xin Investment Co. Ltd.* (無錫錫虹國芯投資有限公司) a
professional investment company incorporated in the PRC on 16 January 2023
jointly controlled by municipal and district-level state-owned enterprises holding
20.00% of the shares of Hua Hong Wuxi a non-wholly owned subsidiary of the
Company; and
“Wuxi Xi Hong Lian Xin” Wuxi Xi Hong Lian Xin Investment Co. Ltd.* (無錫錫虹聯芯投資有限公司) a
professional investment company incorporated in the PRC on 19 December 2017
jointly established by municipal and district-level state-owned enterprises holding
20.00% of the shares of Hua Hong Manufacturing a non-wholly owned subsidiary
of the Company.* For identification purpose only6 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED PB
KEY FINANCIALS
Revenue Gross Profit Margin
US$ million %
30003634.1
2475.5
25002286.130
2004.0
200024
21.3
150018
10001210.2
5006
00
202220232024202220232024
Profit attributable to owners of the parent EPS
US$ million US$
5000.40449.9
0.345
0.35
400
0.30
280.00.25
300
0.189
0.20
200
0.15
0.10
100
58.1
0.050.034
00.00
2022 2023 2024 2022 2023 2024PB HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 7
LETTER TO SHAREHOLDERS
Dear Shareholders
For Hua Hong Semiconductor 2024 was a year of significant challenges as well as relentless progress and
determination. After enduring a period of weak demand and the pressure of high inventory the global semiconductor
industry is now witnessing a moderate recovery. Despite uncertainties in demand outside of the AI and consumer
electronics market sectors as well as intense competition and pricing pressures stemming from an increase in the
supply of mature-node chips Hua Hong Semiconductor has maintained steady development in a complex and
changeable environment by leveraging its deep-rooted expertise in specialty technologies and strong customer
support. The Company achieved sales revenue of US$2004 million for the year with near-full average capacity
utilization and steady quarter-on-quarter improvement in overall financial performance.In the fourth quarter of 2024 the second 12-inch production line located in Wuxi (the Hua Hong Manufacturing Project)
was successfully put into operation marking another significant milestone in the Company’s “8-inch + 12-inch” strategy.Following an eighteen-month period encompassing facility construction cleanroom delivery equipment installation
debugging and verification the Hua Hong Manufacturing Project was completed and commenced production ahead
of schedule. Various specialty process platforms have been successfully integrated and are expected to drive steady
revenue growth starting in 2025 laying a solid foundation for future performance improvement.As a technology enterprise that prioritizes high-quality productivity innovation remains the sole key to maintaining
leadership. The Company continues to increase its R&D investment in process technology – Our core competitive
edge. By the end of 2024 the Company had accumulated a total of 4644 authorized patents both domestically
and internationally. Through continuous iteration and advancement of its process platforms the Company provides
customers and ecosystem partners with an enhanced product portfolio while laying a solid foundation for the next
phase of development. With steadily advancing business expansion and capacity growth the Company has been
focusing on further improvements in operational efficiency during the industry’s trough. By implementing cost-reduction
and efficiency-enhancement measures across sales and marketing procurement and supply chain production
and manufacturing as well as operational support the Company has strengthened cost control and solidified its
competitive advantages.8 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED PB
LETTER TO SHAREHOLDERS
Looking ahead in 2025 the global semiconductor market is expected to continue its moderate recovery. The
penetration of AI applications is set to accelerate demand for upgrades in sectors such as smartphones computer
and automotive intelligence while demand in industrial and new energy fields is also anticipated to gradually rebound.In the new year Hua Hong Semiconductor will steadfastly enhance its production capacity expansion ensuring the Hua
Hong Manufacturing Project ramps up production as planned. The Company will continue to optimize its advanced
“Specialty IC + Power Discrete” process and product portfolio increasing the proportion of high-value products. It will
also deepen strategic collaboration with customers and end-market ecosystem partners to meet the rising demand
driven by supply chain localization in the Chinese market. Moving forward the Company will leverage innovation as
its engine for growth and quality for its foundation seizing opportunities in the industry’s new growth cycle to create
sustainable value for shareholders and collaborate with partners to write a new chapter in the semiconductor industry!
Junjun Tang
Chairman and Executive Director
Peng Bai
President and Executive Director
Shanghai PRC
27 March 2025PB HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 9
CORPORATE INFORMATION
Corporate Culture
SPIRIT
FACE CHALLENGES HEAD-ON
STRIVE FOR EXCELLENCE
VISION
WE EMPOWER OUR CUSTOMERS
THROUGH CONTINUOUS INNOVATION
MISSION
CREATING VALUE FOR SHAREHOLDERS CUSTOMERS AND
EMPLOYEES THROUGH COLLABORATION INNOVATION AND
BEING A GOOD CORPORATE CITIZEN
CORE VALUES
INTEGRITY TEAMWORK INITIATIVE
AND DISRUPTIVE INNOVATION10 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 11
CORPORATE INFORMATION
Board of Directors Hong Kong Legal Advisor
Executive Directors Herbert Smith Freehills
Junjun Tang (Chairman) 23/F Gloucester Tower
Peng Bai (President) (appointed on 1 January 2025) 15 Queen’s Road Central
Suxin Zhang (resigned on 31 December 2024) Hong Kong PRC
Non-Executive Directors
Jun Ye Principal Banks
Guodong Sun
Bo Chen (appointed on 7 March 2025) China Construction Bank Shanghai Branch
Chengyan Xiong (appointed on 28 March 2024) No. 900 Lujiazui Ring Road
Limin Zhou (appointed on 19 January 2024 resigned Pudong New Area
on 7 March 2025) Shanghai PRC
Independent Non-Executive Directors China Development Bank Shanghai Branch
Stephen Tso Tung Chang No. 68 Puming Road
Kwai Huen Wong JP Pudong New Area
Songlin Feng (appointed on 28 March 2024) Shanghai PRC
Long Fei Ye (resigned on 28 March 2024)
China Merchants Bank Co. Ltd. Shanghai Branch
Company Secretary No.1088 Lujiazui Ring Road
Sui Har Lee Pudong New Area
Authorized Representatives Shanghai PRC
Junjun Tang
Sui Har Lee China Construction Bank Corporation Hong Kong
Branch
Audit Committee 28/F CCB Tower 3 Connaught Road Central
Stephen Tso Tung Chang (Chairman) Hong Kong PRC
Chengyan Xiong (appointed on 28 March 2024)
Songlin Feng (appointed on 28 March 2024) Bank of Communications Co. Ltd. Hong Kong Branch
Jun Ye (resigned on 28 March 2024) 20 Pedder Street Central
Long Fei Ye (resigned on 28 March 2024) Hong Kong PRC
Remuneration Committee China Development Bank Jiangsu Branch
Kwai Huen Wong JP (Chairman) No. 232 Middle Jiangdong Road
Jun Ye (appointed on 28 March 2024) Nanjing Jiangsu PRC
Songlin Feng (appointed on 28 March 2024)
Long Fei Ye (resigned on 28 March 2024) Agricultural Bank of China Wuxi Xinwu Subbranch
No. 26 Hefeng Road Xinwu District
Nomination Committee Wuxi Jiangsu PRC
Junjun Tang (Chairman) (appointed
on 31 December 2024) China Construction Bank Wuxi High and New
Kwai Huen Wong JP Technology Industrial Development Zone Subbranch
Songlin Feng (appointed on 28 March 2024) No. 26 Hefeng Road Xinwu District
Suxin Zhang (resigned on 31 December 2024) Wuxi Jiangsu PRC
Long Fei Ye (resigned on 28 March 2024)
China CITIC Bank Wuxi New District Subbranch
Website No. 26 Hefeng Road Xinwu District
Wuxi Jiangsu PRC
www.huahonggrace.com
Bank of China Wuxi High and New Technology
Auditor Industrial Development Zone Subbranch
No. 140 Wangzhuang Road Xinwu District
Ernst & Young Wuxi Jiangsu PRC
Certified Public Accountants
27/F One Taikoo Place Bank of Communications Co. Ltd. Wuxi Branch
979 King’s Road Quarry Bay No.8 2nd Financial Street Binhu District
Hong Kong PRC
Wuxi Jiangsu PRC10 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 11
CORPORATE INFORMATION
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
Stock Code
Hong Kong Stock Exchange: 01347
Shanghai Stock Exchange: 68834712 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 13
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Junjun Tang aged 60 was appointed on 1 May 2019 as the President
and Executive Director of the Company and subsequently redesignated on
31 December 2024 as the Chairman and Executive Director of the Company.
Mr. Tang also serves as Chairman of HHGrace Hua Hong Wuxi and Hua
Hong Manufacturing. Mr. Tang has extensive experience in the integrated
circuit industry and management and possesses strong coordination and
execution ability. Prior to joining the Company Mr. Tang was the Secretary
of the Party Committee Vice President and Executive Vice President of
Huali Micro from February 2010 to March 2019 and concurrently served
as the President of Shanghai Huali from August 2016 to March 2019.During the period from July 2008 to February 2010 Mr. Tang was the Vice
Secretary of the Party Committee President of Trade Union and head of
administrative and government relationships of Shanghai Hua Hong NEC
Electronics Co. Ltd.. Prior to joining the Company Mr. Tang successively
held various positions including Associate Chief Officer of Shanghai Bureau
of Instrument and Telecommunications Industry (上海儀表電訊工業局)
Technologist of Shanghai Radio No.17 Factory (上海無線電十七廠) and
Technologist of Shanghai Semiconductor Device No.4 Factory (上海半導
體器件四廠). Mr. Tang graduated from Southwest Jiaotong University with
an Undergraduate’s degree in Business Administration. He also graduated
from China Europe International Business School with a Master’s degree in
Business Administration. He holds the title of Chief Senior Economist and
was awarded titles including National May 1st Labor Medal National Model
Worker National Outstanding Party Affairs Worker.Dr. Peng Bai aged 62 was appointed as the President and Executive
Director of the Company on 1 January 2025. Mr. Bai also serves as President
and Director of HHGrace Hua Hong Wuxi and Hua Hong Manufacturing.Mr. Bai has over 30 years of experience in the field of integrated circuits
manufacturing. Prior to joining the Company Mr. Bai was the Chief
Executive Officer of Rong Semiconductor Corporation (榮芯半導體有限公
司) where he had held the position since 2022. Before that he served as a
process integration engineer process integration manager director of yield
engineering director of research and development and vice president and
corporate vice president successively at Intel Corporation. Mr. Bai studied
at Peking University and subsequently graduated from the University of
Bucharest in 1985 with a Bachelor of Science degree in Physics and received
a Doctor of Philosophy degree in Physics from the Rensselaer Polytechnic
Institute in 1991.12 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 13
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Jun Ye aged 52 has been a Non-Executive Director of our Company
since February 2012 and is a Director of HHGrace. Mr. Ye has more than
20 years of experience in finance and investment. Mr. Ye has successively
held various positions in SAIL including Manager of the Investment Banking
Division and the Business Development Division General Manager Assistant
Deputy General Manager and General Manager since 1996 and Chairman
since March 2025. Mr. Ye is also a Director at Bank of Shanghai Chairman
of Shanghai Zhaoxin Semiconductor Co. Ltd. Sinotherapeutics Inc. and
Sino-US United MetLife Insurance Company Limited. Mr. Ye obtained a
Bachelor’s degree in Industrial and International Trade and a Master’s degree
in Business Administration from Shanghai Jiao Tong University.Mr. Guodong Sun aged 47 was appointed as a Non-Executive Director
of the Company with effect from 10 December 2020. Mr. Sun is also the
Director of Hua Hong Wuxi and Hua Hong Manufacturing. Mr. Sun joined
China Development Bank in 2000. From 2000 to 2014 Mr. Sun held various
positions in China Development Bank including Deputy Director of the Human
Resources Systems Division Deputy Director and Director of the Hubei
Branch Human Resources Department etc. Mr. Sun had been the General
Manager of the Human Resources Department of Sino-IC Capital Co. Ltd. (華
芯投資管理有限責任公司) from December 2014 to July 2016 and has been
the Managing Director of Sino-IC Capital Co. Ltd. since July 2016 and has
been the General Manager of Shanghai Branch of Sino-IC Capital Co. Ltd.since May 2024. Mr. Sun graduated from Beijing Institute of Technology in
the PRC with a Bachelor’s degree in Computer Application and from Central
University of Finance and Economics in the PRC with a Master’s degree in
Business Administration.14 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 15
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Bo Chen aged 48 was appointed as a Non-Executive Director of the
Company on 7 March 2025. Mr. Chen is also the Director of HHGrace Hua
Hong Wuxi and Hua Hong Manufacturing. Mr. Chen is currently serving as the
vice president of Shanghai Huahong (Group) Co. Ltd. (上海華虹(集團)有限公
司) and as the Chairman of Shanghai Hua Hong Hongri Electronics Co. Ltd.(上海華虹虹日電子有限公司). Mr. Chen has extensive experience in strategic
development of high-tech industries and fixed asset investment. Prior to
joining our Group Mr. Chen held various positions at the Shanghai Municipal
Development and Reform Commission (上海市發展和改革委員會) from 2001
to 2023 including Deputy Principal Staff Member Principal Staff Member
Assistant to the Division Director Deputy Division Director Division Director
and Level I Division Rank Official. Mr. Chen graduated from Fudan University
and received a Master of Science degree.Ms. Chengyan Xiong aged 45 was appointed as a Non-executive Director
of the Company with effect from 28 March 2024. Ms. Xiong has nearly 20
years of experience working in the finance and accounting sector. Prior
to joining the Company Ms. Xiong was a deputy chief staff member and
chief staff member of the budget office of Shanghai State-owned Assets
Supervision and Administration Commission* (上海市國有資產監督管理委
員會) after which she held positions as deputy head and head in various
departments within the group companies of Huahong Group. Ms. Xiong
is currently the director of the capital and finance department of Huahong
Group and holds various positions as a director or a supervisor at a number
of the subsidiaries of Huahong Group. Ms. Xiong graduated from Shanghai
University of Finance and Economics (上海財經大學) with a Master’s degree
in management. Ms. Xiong is also a senior accountant and a non-practising
certified public accountant in the PRC.14 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 15
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Suxin Zhang resigned on 31 December 2024 as the Chairman and an
Executive Director of our Company as well as the Chairman of the Nomination
Committee.Mr. Limin Zhou resigned on 7 March 2025 as a Non-Executive Director of
the Company.16 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 17
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Stephen Tso Tung Chang aged 76 is an Independent Non-Executive
Director of our Company and a Director of HHGrace. Mr. Chang was a
certified public accountant in Hong Kong and a member of the Hong Kong
Society of Accountants from 1978 to the end of 2003. He has been a Fellow
member of the Institute of Chartered Accountants in England and Wales since
January 1983 and has extensive experience in accounting auditing and
financial management. Mr. Chang held various positions at Ernst & Young
starting in 1976. He became a Management Committee Member of Ernst &
Young in 1989 and was actively involved in establishing and monitoring the
firm’s internal control and risk management policy and procedures. Prior to
his promotion to Managing Partner of the Professional Services Department
he was Chairman of Ernst and Young’s audit and advisory business services
for four years. He was a Partner of Ernst and Young and the Chairman of
Ernst and Young China and Hong Kong prior to his retirement in 2003. He is a
member of the Investment Committee of Shanghai Fudan University Education
Development Foundation and Fudan University Education Development
Foundation (overseas). He is also an Independent Non-Executive Director
of China World Trade Center Co. Ltd. (stock code: 600007.SH) and was
formerly an Independent Non-Executive Director of China Cinda Asset
Management Co. Ltd. (stock code: 1359.HK) Kerry Properties Limited (stock
code: 683.HK) and China Life Insurance Company Ltd. (stock code: 2628.HK). Mr. Chang obtained a Bachelor of Science degree in Food Science and
Chemistry from the University of London.Mr. Kwai Huen Wong SBS BBS JP aged 73 is an Independent Non –
Executive Director of our Company and a Director of HHGrace. Mr. Wong
had served as the PRC Managing Partner of two international law firms for
15 years. Prior to that he worked for the Lands Department Department of
Justice and Legislative Council of the Hong Kong SAR Government for a total
of 10 years. He was appointed as a Member of Airport Authority Hong Kong
Hospital Authority and the Competition Commission from 2011 to 2018. He
was the former Chairman of the Hong Kong International Arbitration Centre
the former President of the Law Society of Hong Kong and Inter-Pacific Bar
Association and the former Chairman of Hong Kong Copyright Tribunal. He
is presently the Chairman of Hong Kong Inland Revenue Board of Review
and the Independent Non-Executive Director of Vinda International Holdings
Limited (stock code: 3331.HK) and NWS Holdings Limited (stock code:
659.HK). Mr. Kwai Huen Wong was formerly a Director of the Hong Kong
Mortgage Corporation Limited and an Independent Non-Executive Director
of China Oilfield Services Limited. In addition he is the Honorary Lecturer
External Examiner Advisory Board Member and Professor at The University
of Hong Kong The Chinese University of Hong Kong City University of Hong
Kong Hong Kong Baptist University and Hong Kong Shue Yan University. Mr.Wong holds a Bachelor of Arts degree from The Chinese University of Hong
Kong and a Bachelor of Law degree from the University of London.16 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 17
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Songlin Feng aged 60 is an Independent Non-Executive Director
of our Company and the Director of HHGrace with effect from 28 March
2024. He has over 32 years of experience in academic research in science
and technology including integrated circuits and semiconductors. He
successively served as a deputy researcher researcher deputy director
director an assistant to head and the head of the Institute of Semiconductors
of the Chinese Academy of Sciences* (中國科學院半導體研究所) from
February 1992 to December 2000. From January 2001 to August 2010
he was a researcher deputy head and the head of Shanghai Institute of
Microsystems and Information Technology of the Chinese Academy of
Sciences* (中國科學院上海微系統與信息技術研究所). He successively served
as a researcher the leader of the planning team and the Dean of Shanghai
Advanced Research Institute of the Chinese Academy of Sciences* (中國科學
院上海高等研究院) from March 2009 to May 2017 and then as a researcher
of the Institute retiring in May 2024. Mr. Feng has been an independent
director of INESA Intelligent Tech Inc. (雲賽智聯股份有限公司) a company
listed on the Shanghai Stock Exchange (Stock Code: 600602) and Shanghai
Zhaoxin Semiconductor Co. Ltd.* (上海兆芯集成電路股份有限公司). In
addition Mr. Feng has been a director of Shanghai Zhongyan Hongling
Information Technology Co. Ltd.* (上海中研宏瓴信息科技有限公司) Jiaxing
Zhongke Wireless Sensor Network Technology Co. Ltd. (嘉興中科無線傳
感網科技有限公司) and Shanghai Zengwei Anxin Technology Development
Co. Ltd. (上海增維安信科技發展有限公司). Mr. Feng graduated from Wuhan
University (武漢大學) with a bachelor’s degree in semiconductor physics and
holds a master’s degree and a doctor’s degree in material sciences from from
Université Paris Diderot – Paris VII respectively.Mr. Long Fei Ye resigned on 28 March 2024 as an Independent Non-
Executive Director of our Company and the member of the Audit Committee
the Nomination Committee and the Remuneration Committee.18 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 19
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Daniel Yu-Cheng Wang aged 62 has been appointed as the Secretary
of the Board of the Company since February 2012. Mr. Wang is also an
Executive Vice President of our Company HHGrace Hua Hong Wuxi and
Hua Hong Manufacturing supervising key functional divisions including
finance information technology administration and compliance board
office and overseas human resources. In April 2001 Mr. Wang joined
Grace Shanghai Semiconductor Manufacturing Corporation and took on a
central leadership position at every phase of Grace Shanghai’s growth and
development. His responsibilities encompassed supervising the planning and
execution of the merger as well as the successful initial public offering of the
company on both the Hong Kong Stock Exchange and the STAR board at the
Shanghai Stock Exchange. Prior to joining Grace Shanghai Semiconductor
Manufacturing Corporation Mr. Wang served at LSI Logic Corporation in
San Jose Silicon Valley California from August 1995 to March 2001 as the
Division Controller in the Broadband Entertainment Division. Before that Mr.Wang was employed by Franklin Templeton Investments in the U.S. Mr. Wang
holds a Bachelor’s degree in Industrial Engineering and Operations Research
from the College of Engineering University of California Berkeley and a
Master’s degree of Business Administration degree in Finance and Bankingfrom the University of San Francisco in the U.S.. In the “All – Asia (Ex-Japan)Executive Team Ranking” published by Institutional Investor a respected
international financial magazine he was honored as the Best Chief Financial
Officer in the technology/semiconductor industry for several times.18 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 19
DIRECTORS AND SENIOR MANAGEMENT TEAM
Senior Management
As at the date of this report the Company’s senior management includes:
Mr. Junjun Tang aged 60 is the Chairman and an Executive Director of
our Company. For more information about Mr. Tang’s profile and academicbackground see the section headed “Directors and Senior ManagementTeam – Board of Directors”.Dr. Peng Bai aged 62 is the President and Executive Director of the
Company. For more information about Mr. Bai’s profile and academicbackground see the section headed “Directors and Senior ManagementTeam – Board of Directors”.Mr. Weiping Zhou aged 57 is an Executive Vice President of our Company
HHGrace Hua Hong Wuxi and Hua Hong Manufacturing responsible for
marketing and has over 35 years of experience in the integrated circuit
industry in China. Mr. Zhou joined the Company at the beginning of 2018.Prior to joining the Company Mr. Zhou was the Executive Vice President
of Shanghai Belling Corporation Limited the General Manager of Ningbo
Shanshan Ulica Solar Technology Developing Company Limited the General
Manager of Shanghai Belling Microelectronics Manufacturing Company
Limited the Deputy Secretary to the Communist Party Committee President
Chief Executive Officer Secretary to the Communist Party Committee and Vice
President of Advanced Semiconductor Manufacturing Corporation Limited.Mr. Zhou graduated from East China Normal University with a Bachelor’s
degree in Solid State Electronic Technology and subsequently obtained a
Master’s degree in Business Administration from Fudan University and he is a
professor-level Senior Engineer.20 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 21
DIRECTORS AND SENIOR MANAGEMENT TEAM
Mr. Daniel Yu-Cheng Wang aged 62 is an Executive Vice President of our
Company HHGrace Hua Hong Wuxi and Hua Hong Manufacturing and is
in charge of finance information technology administration and compliance
board office and overseas human resources. For more information about Mr.Wang’s profile and academic background see the section headed “Directorsand Senior Management Team – Board of Directors”.Mr. Guangping Hua aged 57 is an Executive Vice President of our
Company HHGrace Hua Hong Wuxi and Hua Hong Manufacturing and is in
charge of technology development and design services. Mr. Hua has nearly
30 years of working experience in the semiconductor industry. Prior to this
Mr. Hua has worked for Institute of Microelectronics of Tsinghua University
Chartered Semiconductor Manufacturing Limited (Singapore) Advanced
Semiconductor Manufacturing Corporation Limited and Shanghai Hua Hong
NEC Electronics Co. Ltd.. Mr. Hua graduated from Tsinghua University with a
Master’s degree in Microelectronics Engineering and holds a professional title
of Assistant Researcher.20 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 21
DIRECTORS AND SENIOR MANAGEMENT TEAM
Company Secretary
Ms. Sui Har Lee aged 47 has been serving as the Company Secretary of the
Company since November 2019. Ms. Lee is currently a Partner of Jun He Law
Offices. She has around 16 years of experience in general business practices
and corporate financial transactions such as assisting corporations in listing
their shares on the Hong Kong Stock Exchange merger and acquisitions
capital reorganization and compliance and regulatory matters in relation to
the Listing Rules of the Hong Kong Stock Exchange. Ms. Lee was admitted
as a Solicitor of the High Court of Hong Kong in 2005. Ms. Lee graduated
from City University of Hong Kong with the degree of Bachelor of Laws and
obtained the degree of Master of Laws from University College London.22 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 23
CORPORATE GOVERNANCE REPORT
The Board is pleased to present this corporate governance report for the year ended 31 December 2024.Corporate Governance Practices
The Company diligently practices good corporate governance and has established corporate governance procedures
that comply with the principles in the Corporate Governance Code (the “Code”) as set out in Appendix C1 to the
Listing Rules.The Company understands the importance of sound corporate governance practices and recognizes the changing
regulatory environment. Therefore the Company has continually monitored and updated its corporate governance
practices from implementing the Code and evaluating the effectiveness of its practices to responding to continuous
developments in the regulatory landscape.Compliance with the Code Provisions
During the year ended 31 December 2024 the Company complied with the Code.Securities Transactions by DirectorsThe Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the “ModelCode”) as set out in Appendix C3 to the Listing Rules as its own code of conduct regarding securities transactions by
Directors. The Company has made specific enquiries with all of the Directors each of whom has confirmed that they
have throughout the year ended 31 December 2024 complied with the required standards set out therein.Board of Directors
The Board is entrusted with the overall responsibility of managing the business and affairs of the Company. It has
the ultimate responsibility for the day-to-day management of the Company which is delegated to the Chairman and
management.The nine-member Board currently comprises two Executive Directors Mr. Junjun Tang (Chairman) (appointed as the
Chairman on 31 December 2024) and Dr. Peng Bai (President) (appointed on 1 January 2025); four Non-Executive
Directors Mr. Jun Ye Mr. Guodong Sun Mr. Bo Chen (appointed on 7 March 2025) and Ms. Chengyan Xiong
(appointed on 28 March 2024); and three Independent Non-Executive Directors Mr. Stephen Tso Tung Chang Mr.Kwai Huen Wong JP and Mr. Songlin Feng (appointed on 28 March 2024). Mr. Suxin Zhang Mr. Limin Zhou and Mr.Long Fei Ye resigned as an Executive Director a Non-Executive Director and an Independent Non-Executive Director
on 31 December 2024 7 March 2025 and 28 March 2024 respectively. More details of the Directors are disclosed
on page 12 of this annual report. The Company has published and maintained on its website and on the Hong Kong
Stock Exchange’s website an updated list of the Directors identifying their roles and functions.Each of the Non-Executive Directors of the Company is appointed for a specific term of three years and is subject to
re-nomination and re-election by the Company in general meetings unless previously terminated in accordance with
the terms and conditions of the relevant letter of appointment or Director’s service contract.22 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 23
CORPORATE GOVERNANCE REPORT
The Board meets regularly throughout the year. All Directors are given the opportunity to put items on the agenda for
regular Board meetings. All Directors have access to the Company Secretary to ensure that all Board procedures rules
and regulations are followed. Full minutes of Board meetings are kept by the Company Secretary and are available for
inspection on reasonable notice. Any Director may in furtherance of his duties take independent professional advice
where necessary at the expense of the Company.The Board is responsible for setting the strategic direction and policies of the Group and supervising management.Some functions are reserved by the Board including inter alia the monitoring and approval of material transactions;
matters involving a conflict of interest with a substantial shareholder or a Director of the Company; the approval of
the quarterly interim and final results; other disclosures to the public or regulators; and the internal control system.Decisions relating to such matters shall be subject to formal decisions of the Board. Matters not specifically reserved to
the Board and necessary for the daily operations of the Company are delegated to management under the supervision
of the respective Director(s) and the leadership of the Chairman.The Company has implemented different mechanisms to ensure independent views and input are available to the
Board:
* Composition of the Board: During the year ended 31 December 2024 the Board had at all times complied
with Rules 3.10 and 3.10A of the Listing Rules. The Company has three Independent Non-Executive Directors
representing more than one-third of the Board. At least one of the Independent Non-Executive Directors
possesses appropriate professional qualifications or accounting or related financial management expertise.* Independence assessment: Each of the Independent Non-Executive Directors has made an annual confirmation
of independence pursuant to Rule 3.13 of the Listing Rules. The Company is of the view that all Independent Non
– Executive Directors are independent in accordance with the guidelines set out in Rule 3.13 of the Listing Rules.* Board decision-making: A Director who has a material interest in any transaction contract or arrangement
shall not vote (nor shall be counted in the quorum) on any Board resolution approving the same. If a substantial
shareholder or a Director has a conflict of interest in a matter to be considered by the Board which the Board has
determined to be material such matter shall be dealt with in a Board meeting rather than by a written resolution.* Communication between the Chairman and Independent Non-Executive Directors: The Chairman of the
Board values communication with the Independent Non-Executive Directors highly and holds meetings with them
at least once each year without the presence of other Directors.* Remuneration of Independent Non-Executive Directors: Independent Non-executive Directors receive
fixed fees for their role as members of the Board and Board committees. No equity-based compensation with
performance-related elements is granted to the Independent Non-executive Directors to avoid potential bias in
their decision-making or compromise to their objectivity and independence.* Board evaluation: The Board assesses and reviews the time contributed by each Independent Non-Executive
Director and their attendance at Board and Board committee meetings so as to ensure that every Independent
Non-Executive Director has devoted sufficient time to the Board to discharge his responsibilities as a Director of
the Company.The implementation and effectiveness of the above mechanisms are reviewed on an annual basis. The Board
considers that such mechanisms had been implemented properly and effectively in the year ended 31 December
2024.24 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 25
CORPORATE GOVERNANCE REPORT
The roles of the Chairman and the President are separate. The Chairman is responsible for the overall management
and operations of the Company and for proposing and reviewing the corporate directions and strategies of the
Company. The Chairman is responsible for formulating business strategies and provides leadership to the Board
ensuring effective running of the Board including that all appropriate issues are discussed by the Board in a
timely manner. The Chairman ensures that all Directors are properly briefed on issues arising at Board meetings
and all Directors receive adequate complete and reliable information. The Chairman of the Board highly values
communication with the Independent Non-Executive Directors and will hold meetings with them at least once each
year without the presence of other Directors.The President is responsible for the day-to-day management of the Company’s business and operations as well as
implementation of the Company’s business strategies.Directors’ and Officers’ Liabilities Insurance
Appropriate insurance has been arranged by the Company to cover potential liabilities of Directors and Officers of the
Company regarding legal actions against said Directors and Officers of the Company and its subsidiaries arising out
of corporate activities of the Company.Board Operation
During the year ended 31 December 2024 the Board held six Board meetings. The attendance record of each Board
member at Board meetings meetings of the Audit Committee the Nomination Committee and the Remuneration
Committee as well as the annual/extraordinary general meeting is set out below:
Audit Nomination Remuneration Annual Extraordinary
Board Committee Committee Committee General General
meetings meetings meetings meetings Meeting Meeting
Executive Directors
Suxin Zhang (Note) 6 N/A 3 N/A 1 N/A
Junjun Tang (Note) 6 N/A 0 N/A 1 N/A
Peng Bai (Note) – – – – – –
Non-Executive Directors
Jun Ye 6 2 N/A 1 1 N/A
Guodong Sun 6 N/A N/A N/A 1 N/A
Limin Zhou (Note) 6 N/A N/A N/A 1 N/A
Chengyan Xiong (Note) 4 4 N/A N/A 1 N/A
Bo Chen (Note) – – – – – –
Independent Non-
Executive Directors
Stephen Tso Tung 6 6 N/A N/A 1 N/A
Chang
Kwai Huen Wong JP 6 N/A 3 3 1 N/A
Songlin Feng (Note) 4 4 1 1 1 N/A
Long Fei Ye (Note) 2 2 2 2 – N/A
Note: Peng Bai was appointed as the President and an Executive Director on 1 January 2025. Bo Chen was appointed as a Non-
Executive Director on 7 March 2025. Chengyan Xiong was appointed as a Non-Executive Director and a member of the Audit
Committee on 28 March 2024. Songlin Feng was appointed as an Independent Non-Executive Director a member of the Audit
Committee the Nomination Committee and the Remuneration Committee on 28 March 2024. Each of Peng Bai Bo Chen
Chengyan Xiong and Songlin Feng has obtained legal advice referred to in Rule 3.09D of the Listing Rules and each of them
has confirmed that he/she understood his/her obligations as a director of a listed issuer.Junjun Tang was appointed as the Chairman and an Executive Director and a member of the Nomination Committee on 31
December 2024; Suxin Zhang resigned as an Executive Director the Chairman and the Chairman of the Nomination Committee
on 31 December 2024; Limin Zhou resigned as a Non-Executive Director on 7 March 2025; Long Fei Ye resigned as an
Independent Non-Executive Director a member of Audit Committee a member of Nomination Committee and a member of
Remuneration Committee on 28 March 2024.24 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 25
CORPORATE GOVERNANCE REPORT
In place of physical meetings the Board may circulate written resolutions for approval by the relevant members of the
Board except for matters where a substantial shareholder or a Director has a conflict of interest that the Board has
determined to be material in which case the matter shall be dealt with by a physical Board meeting (rather than a
written resolution) to comply with provision C.5.7 of the Code.The Board having considered the attendance records of the Directors is satisfied that each Director spends sufficient
time performing his responsibilities.Continuous Professional Development
Directors shall keep abreast of their responsibilities as Directors and of the conduct business activities and
development of the Company.Under Code Provision C.1.4 the Directors should participate in appropriate continuous professional development
programs to develop and refresh their knowledge and skills to ensure that their contribution to the Board remains
informed and relevant. During the year ended 31 December 2024 all Directors were provided with timely updates
on the Company’s performance financial position prospects and materials on new or salient changes to laws and
regulations applicable to the Group to enable the Board as a whole and each Director individually to discharge their
duties. Internally-facilitated briefings for the Directors will be arranged in the next financial year and reading material
on relevant topics will be issued to the Directors where appropriate. All Directors are encouraged to attend relevant
training courses at the Company’s expense.The participation by each Director in continuous professional development for the year ended 31 December 2024 and
as of the date of this report is set out below:
Reading related rules and
materials and/or
Name of Director attending training courses
Junjun Tang (Chairman) ?
Peng Bai (President) ?
Jun Ye ?
Guodong Sun ?
Bo Chen ?
Chengyan Xiong ?
Stephen Tso Tung Chang ?
Kwai Huen Wong JP ?
Songlin Feng ?
Suxin Zhang ?
Limin Zhou ?
Long Fei Ye ?26 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 27
CORPORATE GOVERNANCE REPORT
Remuneration Committee
The Remuneration Committee currently comprises three Independent Non-Executive Directors Mr. Kwai Huen
Wong JP Mr. Songlin Feng (appointed on 28 March 2024) and one Non-Executive Director Mr. Jun Ye (appointed
on 28 March 2024). Mr. Long Fei Ye resigned as a member of the Remuneration Committee on 28 March 2024. The
Chairman of the Remuneration Committee is Mr. Kwai Huen Wong JP. Each member is sufficiently experienced and
is appropriately skilled in the issues of determining Executive compensation in public companies. The Board expects
committee members to exercise independent judgement in conducting the business of the committee. The roles
and functions of the Remuneration Committee include the determination of the specific remuneration packages of all
Executive Directors and senior management including benefits in kind pension rights and compensation payments
and making recommendations to the Board in connection with the remuneration of the Non-Executive Directors. The
Remuneration Committee should consider factors such as the salaries paid by comparable companies employment
conditions elsewhere in the Group and the desirability of performance-based remuneration. A copy of the terms
of reference of the Remuneration Committee is available from the Company’s website and the Hong Kong Stock
Exchange’s website. The Remuneration Committee shall meet at least once a year.For the year ended 31 December 2024 the Remuneration Committee held three meetings to discuss the vesting of
certain options granted under the Company’s share option scheme and resolved to submit a proposal to the Board
on the vesting arrangements for such options as well as the remuneration packages for the newly appointed Board
members.Details of the emoluments of the Directors are set out in note 8 to the Financial Statements.Nomination Committee
The Nomination Committee currently comprises one Executive Director Mr. Junjun Tang (appointed on 31 December
2024) and two Independent Non – Executive Directors Mr. Kwai Huen Wong JP and Mr. Songlin Feng (appointed
on 28 March 2024). Mr. Suxin Zhang and Mr. Long Fei Ye resigned as a member of the Nomination Committee on
31 December 2024 and on 28 March 2024 respectively. The Chairman of the Nomination Committee is Mr. Junjun
Tang. Each member is sufficiently experienced and is appropriately skilled in the issues of nomination of directors
to the Board. The Company has provided the Nomination Committee with sufficient resources to perform its duties.The Nomination Committee may seek independent professional advice at the Company’s expense to perform its
responsibilities. The roles and functions of the Nomination Committee are to review the structure size and composition
of the Board make recommendations on any proposed changes to the Board to complement the Company’s
corporate strategy with due regard to the board diversity policy identify individuals suitably qualified to become Board
members select or make recommendations to the Board on the selection of individuals nominated for directorships
assess the independence of Independent Non-Executive Directors and make recommendations to the Board on the
appointment or re-appointment of Directors and succession planning for Directors in particular the Chairman and
the President and monitor the implementation of the board diversity policy and review such policy as appropriate to
ensure its effectiveness. The Nomination Committee has established a specific written committee charter which deals
clearly with its authority and duties. A copy of the terms of reference of the Nomination Committee is available from
the Company’s website and the Hong Kong Stock Exchange’s website. The Nomination Committee shall meet at least
once a year.For the year ended 31 December 2024 the Nomination Committee held three meetings to recommend to the Board
the appointment of each of the new directors and discussed topics such as the Company’s remuneration policy and
the competitiveness of the Company’s salary levels.Pursuant to the Articles any person appointed as a Director to fill a casual vacancy of the Board shall hold office only
until the next following annual general meeting of the Company and shall then be eligible for re-election at the relevant
general meeting and any Director appointed as an addition to the existing Board shall hold office only until the next
annual general meeting of the Company and shall then be eligible for re-election at the relevant general meeting. Every
Director shall be subject to retirement by rotation at least once every three years and shall be eligible for re-election in
accordance with the Articles. The Articles also allow for removal of a Director by an ordinary resolution.26 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 27
CORPORATE GOVERNANCE REPORT
Audit Committee
At least one of the members of the Audit Committee has appropriate professional qualifications or accounting or related
financial management expertise as required under the Listing Rules. None of the members of the Audit Committee
was a former partner of the Company’s existing external auditors within one year immediately prior to the dates of
their respective appointments. All members have appropriate skills and experience in reviewing financial statements
as well as addressing significant control and financial issues of the Company. The Board expects the members of the
Audit Committee to exercise independent judgement and delegates the responsibilities of the corporate governance
functions to the Audit Committee in order to comply with the requirement of the Code.The Audit Committee currently comprises one Non-Executive Director Ms. Chengyan Xiong (appointed on 28 March
2024) and two Independent Non – Executive Directors Mr. Stephen Tso Tung Chang and Mr. Songlin Feng (appointed
on 28 March 2024). Mr. Long Fei Ye resigned as a member of the Audit Committee on 28 March 2024. Mr. Jun Ye
ceased to be a member of the Audit Committee on 28 March 2024 upon his re-designation as a member of the
Remuneration Committee. The Chairman of the Audit Committee is Mr. Stephen Tso Tung Chang. The primary duties
of the Audit Committee include the reviewing of the Company’s financial reporting system the nature and scope of the
audit review as well as the effectiveness of the system of internal control procedures and risk management. The Audit
Committee is also responsible for making recommendations in relation to the appointment reappointment and removal
of the external auditors and the reviewing and monitoring of the independence and objectivity of the external auditors.In addition the Audit Committee discusses matters raised by the external auditors and regulatory bodies to ensure that
appropriate recommendations are implemented. A copy of the terms of reference of the Audit Committee is available
from the Company’s website and the Hong Kong Stock Exchange’s website. The Audit Committee shall meet at least
twice a year.During the year ended 31 December 2024 the Audit Committee held six meetings and all the committee members
were present at the meetings. The major work performed by the Audit Committee with respect to the year ended 31
December 2024 included reviewing and recommending the re-appointment of the external auditor approving the
terms of engagement (including the remuneration) of the external auditor and the audit plan reviewing the unaudited
quarterly results announcement reviewing the unaudited interim report and interim results announcement for the
six months ended 30 June 2024 reviewing the audited financial statements and final results announcement for the
year ended 31 December 2024 reviewing the work of the Group’s audit department and assessing the effectiveness
of the Group’s systems of risk management and internal control. The Audit Committee also held discussions with
management to ensure that the Company has adequate resources qualified and experienced staff in the accounting
and financial reporting function training programs and budget.Auditor’s Remuneration
During the year ended 31 December 2024 the remuneration paid and payable to the auditors of the Company Ernst &
Young for the provision of audit services and non-audit related services to the Company were US$0.73 million and
US$0.01 million respectively. Details of significant non-audit related services include tax and risk management
advisory services.28 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 29
CORPORATE GOVERNANCE REPORT
Board Diversity
The Board adopted a board diversity policy (the “Policy”) in compliance with Rule 13.92 of the Listing Rules.The Company sees increasing diversity at the Board level as an essential element in maintaining the Company’s
competitive advantage. In designing the Board’s composition Board diversity will be considered from several aspects
including without limitation differences in the talents skills regional and industry experience background gender
age and other qualities of the members of the Board in order to maintain an appropriate range and balance of
talents skills experience and background on the Board. In recommending candidates for appointment to the Board
the Nomination Committee will consider candidates on merit against objective criteria and with due regard to the
benefits of diversity on the Board. The Nomination Committee discussed and agreed on the measurable objectives for
achieving diversity on the Board and recommended them to the Board for adoption. At any given time the Board may
seek to improve one or more aspects of its diversity and measure progress accordingly.The Board believes that gender diversity is an important aspect of Board diversity. Following the resignation of Ms.Jing Wang on 1 September 2023 the Company did not have a director of a different gender at that moment and as a
result prior to the appointment of Ms. Chengyan Xiong as a non-executive Director on 28 March 2024 the Company
could not meet the requirement set out in Rule 13.92 of the Listing Rules. Following the appointment of Ms. Chengyan
Xiong as a non-executive director the Company is compliant with the requirement under Rule 13.92 of the Listing
Rules. Gender diversity aside the Remuneration Committee took the view that the measurable objectives for Board
diversity had been achieved to a large extent for the year ended 31 December 2024. The Nomination Committee paid
particular attention to the cultural and educational background professional and technical experience and skills of
the members of the Board and also reviewed the composition of Executive Directors and Independent Non-Executive
Directors so as to ensure appropriate independence within the Board.The Company will continue to maintain a balance of diverse perspectives on the Board that is appropriate for and
conducive to the Company’s growth.Workforce Diversity
As at 31 December 2024 the gender ratio of the Group’s workforce (including the Company’s senior management)
was approximately 74% male to 26% female. The Company’s hiring is merit-based and non-discriminatory. The Board
is satisfied that the Company has achieved gender diversity in its workforce.Corporate Governance Functions
The Board is responsible for performing the functions set out in provision A.2.1 of the Code.The Board reviewed the Company’s corporate governance policies and practices the training and continuous
professional development of Directors and senior management the Company’s policies and practices on compliance
with legal and regulatory requirements the compliance with the Model Code and the Company’s compliance with the
Code and disclosure in this Corporate Governance Report.28 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 29
CORPORATE GOVERNANCE REPORT
Investor Relations
Shareholders’ Communication Policy
The Company has adopted a shareholders’ communication policy which is subject to annual review to ensure its
implementation and effectiveness. Such policy aims to ensure that Shareholders will have equal and timely access to
information about the Company so as to enable them to exercise their rights in an informed manner and to allow them
to engage actively with the Company.A summary of the Company’s shareholders’ communication policy is set out below.The Company provides information to Shareholders through its financial reports (including quarterly interim and
annual reports) circulars announcements and other disclosures submitted to the Hong Kong Stock Exchange and the
Shanghai Stock Exchange for publication.To further promote effective communication the Company maintains a website at www.huahonggrace.com with
information and updates on the Company’s business developments and operations list of Directors and their roles and
functions constitutional documents terms of reference of the Board and its committees procedures for nomination
of Directors for election corporate governance practices financial reports circulars announcements and other
information.Shareholders’ meetings are a primary forum for communication between the Board and Shareholders. The Company
encourages Shareholders to attend and participate in general meetings to ensure a high level of accountability and
to keep them informed of the Company’s goals and strategies. The Chairman of the Board other Board members
and the Chairmen of all the Board committees or in their absence other members of the respective committees are
available to answer any questions from Shareholders. Shareholders are given sufficient notice of the meetings and
detailed voting procedures are included in circulars to Shareholders accompanying the notices of meetings.In addition to the above the Company also publishes newsletters through its WeChat public account. Shareholders
can subscribe to the account to obtain the latest news of the Company.To promote investors’ understanding of the Company’s business the Company organises roadshows and on-site visits
to its clean rooms and exhibition halls for investors. The Company has also participated in a number of investment
forums and conducted multiple exchanges with securities analysts fund management companies and individual
investors through various means.In order for the Company to solicit and understand the views of Shareholders and stakeholders Shareholders and
other stakeholders may make enquiries to the Company through its investor relations contact by email at IR@hhgrace.com.The Company has reviewed the implementation and effectiveness of its shareholders’ communication policy for the
year ended 31 December 2024 including the steps taken at the general meetings the handling of queries received
and the multiple communication channels in place. The Company is of the view that the policy is effective and has
been properly implemented.30 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 31
CORPORATE GOVERNANCE REPORT
Company Secretary
Ms. Sui Har Lee the Company Secretary is responsible to the Board for ensuring that the Board procedures are
followed and that the Board activities are efficiently and effectively conducted. She is also responsible for ensuring that
the Board is fully appraised of the relevant legislative regulatory and corporate governance developments relating to
the Company and facilitating the induction and professional development of Directors.The Company Secretary reports to the Chairman and the President plays an essential role in the relationship between
the Company and its Shareholders and assists the Board in discharging its obligations to Shareholders pursuant to
the Listing Rules.During the year ended 31 December 2024 Ms. Sui Har Lee attended relevant professional seminars to update her
skills and knowledge and has complied with Rule 3.29 of the Listing Rules.Procedures for Shareholders to Convene an Extraordinary General Meeting
Extraordinary general meetings may be convened by the Directors on requisition of Shareholder(s) holding not less
than one-twentieth of the paid-up capital of the Company or by such Shareholder(s) who made the requisition (the
“Requisitionist(s)”) (as the case may be) pursuant to sections 566 to 568 of the Companies Ordinance (Chapter 622
of the laws of Hong Kong) (the “Companies Ordinance”). The objects of the meeting must be stated in the requisition
which must be signed by the Requisitionist(s) and deposited at the registered office of the Company. Shareholders
should follow the requirements and procedures as set out in sections 580 to 583 of the Companies Ordinance for
convening an extraordinary general meeting.Procedures for Putting Forward Proposals at Shareholders’ Meetings and Directing
Enquiries from Shareholders to the Board
Shareholders may at any time send their written requests proposals enquiries and concerns to the Company for the
attention of Chairman of the Board or the Company Secretary whose contact details are as follows:
288 Halei Road Zhangjiang Hi-Tech Park Shanghai 201203 China
Tel: (86) 21 38829909
Fax: (86) 21 50809999
Email: IR@hhgrace.com30 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 31
CORPORATE GOVERNANCE REPORT
Voting by Poll
Pursuant to Rule 13.39(4) of the Listing Rules any vote of Shareholders at a general meeting must be taken by poll.Risk Management and Internal Monitoring
Risk Management and Internal Monitoring Objectives
Risk Management Objective
From a compliance perspective the Company has implemented the provisions of the Corporate Governance Code
issued by the Hong Kong Stock Exchange to ensure the compliance with relevant requirements in a timely manner.From the perspective of operations the management team well understands the risks that may be confronted by the
Company as it undertakes future development. Therefore the risk management objective of the Company is to identify
and assess risks and take appropriate countermeasures to evade a risk entirely if possible otherwise to manage these
risks to reduce their impact and keep them under control. The Company has constructed a robust risk control system
working on a continuous basis established a risk management platform clarified risk management mechanisms
improved a risk map and carried out an annual risk evaluation. We have developed a concise scientific practical
and efficient risk management and control model which complies with regulatory requirements under the Code and is
in line with the Company’s specific evolving circumstances.Internal Control System Objective
The Company’s internal control system has fully implemented the requirements for a risk management framework as
set out by COSO (Committee of Sponsoring Organizations of the Treadway Commission) as well as the guidelines of
Hong Kong Institute of Certified Public Accountants for risk management. We refined the three tiers of risk map in the
processes and formed risk-oriented internal control evaluation by considering the Company’s ongoing operational
circumstances and business characteristics. The objective is to evaluate the effectiveness and applicability of our
internal monitoring system and provide reasonable guarantees for the effectiveness of the Company’s operating
activities the reliability of financial reports and compliance with laws and regulations.32 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 33
CORPORATE GOVERNANCE REPORT
Risk Management and Internal Monitoring System
To ensure our risk management work develops efficiently and forms a long-term mechanism the Company has
established a risk management monitoring system comprising a “three-line model”. It covers the roles and duties of
many different aspects as follows:
1st Line Business Departments
* Establish and maintain various departmental risk management mechanisms;
* Ongoing collection of risk data while performing day-to-day department tasks;
* Continue to carry out risk monitoring and early warning of the department;
* Assist in the implementation of the Company’s risk management work including
providing necessary documents and samples identify major risks related to the
department and determine major risk countermeasures;
2nd Line Business Supervision and Administration Departments
* Provide and supplement expertise play a supportive and supervisory role help
continuously implement and improve the risk management work; analyze and report
on the accuracy and effectiveness of risk management;
3rd Line Internal Audit Level
* Independently inspect and supervise risk management activities conducted by the
Business Departments and the Risk Management Level and evaluate whether the
Company’s risk management mechanism is implemented effectively and efficiently;
* Conduct annual comprehensive risk assessments based on the risk assessment
results define the major risk factors and relevant response responsibilities organize
and guide relevant departments in making response plans for major risks and follow
up on the implementation of the plans;
* Urge departments or agencies to rectify problems discovered during the auditing and
risk assessment process and monitor the ongoing status of the rectification work;
* Report the auditing and risk assessment results to the Audit Committee of the
Company.32 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 33
CORPORATE GOVERNANCE REPORT
Risk Management and Internal Monitoring Statement
The Board is responsible for the Company’s risk management and internal monitoring system as well as ensuring a
review of the system’s effectiveness. The Board designated the Internal Auditing Department to perform the internal
auditing function and granted it full independent responsibility and authority. The internal auditors audited the
effectiveness of the Company’s risk management and internal monitoring system each year through various audit
projects according to the approved auditing scope and in accordance with the provisions in D.2 of the Corporate
Governance Code and no material deficiency was found.Based on audits by the Internal Auditing Department the Board believes that the Company’s risk management and
internal monitoring system is adequate trustworthy and effective. However one must recognise that the Company’s
risk management and internal monitoring framework can only manage rather than completely eliminate risks that may
affect the Company’s ability to accomplish its business objectives. Therefore it provides a reasonable but not an
absolute guarantee for the avoidance of material misstatement or loss.With a view to identifying handling and disseminating inside information in compliance with the SFO procedures
including pre-clearance on dealing in the securities of the Company by designated members of management
notification of regular blackout period and securities dealing restrictions to relevant Directors and employees
identification of projects by code name and dissemination of information to stated purpose and on a need-to-know
basis have been implemented by the Group to guard against possible mishandling of inside information within the
Group.General
The Directors acknowledge their responsibility in preparing the Company’s financial statements for each financial
period to give a true and fair view of the state of affairs of the Company and in accordance with statutory requirements
and applicable accounting standards. In preparing the financial statements for the year ended 31 December 2024 the
Directors have selected suitable accounting policies and applied them consistently made judgments and estimates
that are prudent fair and reasonable and prepared the financial statements on a going concern basis.The responsibilities of the auditors with respect to the financial reporting are set out in the Independent Auditors’
Report on pages 299 to 301 of this annual report.On behalf of the Board
Mr. Junjun Tang
Chairman34 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 35
DIRECTORS’ REPORT
The Board presents the annual report of the Company for 2024 and the audited financial statements of the Company
for the period from 1 January 2024 to 31 December 2024 (the “Financial Statements”).Principal Activities
The Company was a pure-play 8-inch and 12-inch wafer foundry as at the end of 2024 with its long-term focus on
the development and application of advanced “Specialty IC + Power Discrete” differentiated specialty technologies
including Embedded/Standalone Non-Volatile Memory Power Discrete Analog & Power Management Logic & RF
providing diverse specialized process wafer manufacturing services to its customers. The activities of its principal
subsidiaries are set out in note 1 to the Financial Statements (Pages 310 to 311).Business Review
Revenue Analysis
Revenue of Hua Hong Semiconductor for 2024 was US$2004 million representing a decrease of 12.3% compared to
the previous year. The annual revenue reflected a scenario of declining prices but increasing volumes. Driven by the
rapid development of the AI sector and the gradual recovery of part of the consumer electronics market the global
semiconductor market maintained moderate growth. However due to the release of domestic supply-side capacity
competition in the wafer foundry market has intensified exerting downward pressure on prices. Nevertheless based on
the Company’s confidence in the long-term market growth and the trend of localization in the domestic semiconductor
market its “8-inch + 12-inch” strategy has achieved significant milestones with the Hua Hong Manufacturing Project
successfully completed and put into operation. Additionally leveraging its long-standing technological expertise
and proactive sales strategies the Company maintained an average annual capacity utilization rate close to 100%
securing a leading position among major global wafer foundry enterprises.Revenue by Service
YoY YoY
2024 2024 2023 2023 Change Change
US$’000 % US$’000 % US$’000 %
Semiconductor wafers 1900929 94.9% 2181591 95.4% (280662) (12.9)%
Others 103064 5.1% 104522 4.6% (1458) (1.4)%
Total 2003993 100.0% 2286113 100.0% (282120) (12.3)%
* In 2024 94.9% of our revenue was generated from the sale of semiconductor wafers.Revenue by Customer
YoY YoY
2024 2024 2023 2023 Change Change
US$’000 % US$’000 % US$’000 %
Systems and fabless companies 1919000 95.8% 2109482 92.3% (190482) (9.0)%
Integrated device manufacturers (IDMs) 84993 4.2% 176631 7.7% (91638) (51.9)%
Total 2003993 100.0% 2286113 100.0% (282120) (12.3)%
* Our revenue from systems and fabless companies accounted for 95.8%.34 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 35
DIRECTORS’ REPORT
Revenue by Geography
YoY YoY
2024 2024 2023 2023 Change Change
US$’000 % US$’000 % US$’000 %
China 1636528 81.6% 1774178 77.6% (137650) (7.8)%
North America 187899 9.4% 204882 9.0% (16983) (8.3)%
Other Asia 103410 5.2% 149087 6.5% (45677) (30.6)%
Europe 69528 3.5% 134760 5.9% (65232) (48.4)%
Japan 6628 0.3% 23206 1.0% (16578) (71.4)%
Total 2003993 100.0% 2286113 100.0% (282120) (12.3)%
* In 2024 81.6% of the Company’s revenue was generated in China.Revenue by Technology Type
YoY YoY
2024 2024 2023 2023 Change Change
US$’000 % US$’000 % US$’000 %
Embedded Non-Volatile Memory (eNVM) 526122 26.3% 703148 30.8% (177026) (25.2)%
Standalone Non-Volatile Memory (sNVM) 130137 6.5% 116715 5.1% 13422 11.5%
Power Discrete 623922 31.0% 902346 39.4% (278424) (30.9)%
Logic & RF 272201 13.6% 202483 8.9% 69718 34.4%
Analog & Power Management (PM) 448100 22.4% 358333 15.7% 89767 25.1%
Others 3511 0.2% 3088 0.1% 423 13.7%
Total 2003993 100.0% 2286113 100.0% (282120) (12.3)%
* In 2024 the Analog & PM and Logic & RF platforms delivered strong revenue growth primarily driven by rapid
demand expansion in AI-related applications and recovery in the consumer electronics market.36 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 37
DIRECTORS’ REPORT
Revenue by Technology Node
YoY YoY
2024 2024 2023 2023 Change Change
US$’000 % US$’000 % US$’000 %
55nm & 65nm 438656 21.9% 291683 12.8% 146973 50.4%
90nm & 95nm 389181 19.4% 386191 16.9% 2990 0.8%
0.11μm & 0.13μm 278597 13.9% 405911 17.8% (127314) (31.4)%
0.15μm & 0.18μm 129645 6.5% 147338 6.4% (17693) (12.0)%
0.25μm 16932 0.8% 24217 1.1% (7285) (30.1)%
≥0.35μm 750982 37.5% 1030773 45.0% (279791) (27.1)%
Total 2003993 100.0% 2286113 100.0% (282120) (12.3)%
* In 2024 the 55nm and 65nm platforms sustained robust revenue growth driven by strong demand from the
Analog & PM and other platforms.Revenue by End Market
YoY YoY
2024 2024 2023 2023 Change Change
US$’000 % US$’000 % US$’000 %
Consumer Electronics 1261705 63.0% 1294251 56.6% (32546) (2.5)%
Industrial & Automotive Electronics 461256 23.0% 673395 29.5% (212139) (31.5)%
Communications 251261 12.5% 256856 11.2% (5595) (2.2)%
Computing 29771 1.5% 61611 2.7% (31840) (51.7)%
Total 2003993 100.0% 2286113 100.0% (282120) (12.3)%
* In 2024 demand in the consumer electronics market remained relatively stable with revenue from this end-market
accounting for 63.0% of total revenue.36 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 37
DIRECTORS’ REPORT
Capacity and Capacity Utilization
Fab (In thousands of wafers per month) 2024 2023 YoY Change
Fab 1 65 65 –
Fab 2 60 60 –
Fab 3 53 53 –
Total monthly 8-inch wafer capacity 178 178 –
Fab 7 (12-inch wafer capacity) 95 95 –
Capacity utilization (8-inch wafer equivalent) 99.5% 94.3% 5.2%
* In 2024 capacity utilization (8-inch wafer equivalent) increased by 5.2 percentage points.Wafer Shipments
In thousands of wafers 2024 2023 YoY Change
Wafer shipments (8-inch wafer equivalent) 4545 4103 10.8%
* In 2024 there was a year-on-year increase of 10.8% in the Company’s wafer shipments.Research and Development
Hua Hong Semiconductor is committed to research and development (R&D) innovation and optimization of
differentiated technologies with a focus on eNVM/sNVM Power Discrete Analog & PM (Power Management) Logic
& RF and other featured process platforms. It continues to provide customers with product mix and services that meet
market demand. In 2024 Hua Hong Semiconductor continued accelerating the development of 12-inch capacity and
technology platforms; and the product mix of advanced “Specialty IC + Power Discrete” became more diverse due to
the extension of the 12-inch process platform.The NVM platform remains one of the main sources of revenue for the Company. Its embedded flash memory
technology maintains a leading position in smart card and automotive-grade MCU applications. Leveraging the product
mix advantages of its “8-inch + 12-inch” platform multiple full series MCU chips produced at process nodes with flash
memory process capability have entered mass production empowering costumers to secure first-tier positions in the
local supply chain for automotive electronics high-end home appliances and industrial control applications thereby
driving supply chain upgrades. For standalone flash memory platforms the Company enhanced the performance of
its proprietary NORD technology and traditional ETOX technology products earning recognition from costumers and
end-market applications. Technologically successful mass production of 48nm NOR Flash has further strengthened
competitiveness of our memory portfolio.38 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 39
DIRECTORS’ REPORT
The Analog & PM (Power Management) platform achieved significant revenue growth in 2024 primarily driven by
robust demand in AI supporting power applications and stable volumes of wafer inputs. The Company collaborated
with leading customers to strengthen its foothold in consumer markets such as smartphone fast-charging and
wireless charging chips and accelerated penetration into automotive electronics. Technologically the development of
“BCD+” hybrid processes based on our conventional BCD process enabled iterative advancements across multiple
process nodes and enabled us to serve our customers and provide single-chip solutions for a wide range of market
applications as a diversified specialty process platform.Logic & RF platform also achieved rapid revenue growth with the 55/40nm specialty process RF CMOS and 65nm
RF SOI processes entering mass production and the mass production of 55nm BSI image sensor chips for high-end
smartphone primary cameras. Breakthroughs in platform technology enabled the Company to rapidly secure leading
customers in the industry.The Power Discrete platform faced material pricing pressure due to competitors’ capacity expansions and softening
end-market demand in the industrial and new energy market sectors. Nevertheless the Company proactively pursued
technology innovation while maintaining stable capacity utilization. Specifically through iterative optimizations of
deep-trench structures in super-junction MOSFET it further narrowed the gap with oversea industry leaders. The
Company continued to iterate and mass-produce high-voltage IGBT aligning with international benchmarks and
solidifying its position as a cornerstone of the local supply chain’s advancement. Amid intensifying pricing competition
the Company accelerated the adoption of high-end products in industrial control and automotive electronics steadily
increasing the proportion of new products to reinforce its market leadership position.The Company’s major milestone in 2024 was the successful operation of the Huahong Manufacturing Project (Hua
Hong Fab 9). Following approximately 18 months of facility construction structural completion cleanroom delivery
major equipment installation and testing the production line commenced wafer input and mass production by the end
of 2024. It is expected to gradually introduce 40nm process nodes and multi-platform product mix in 2025 aiming for
a stable capacity ramp-up and sustained revenue growth.38 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 39
DIRECTORS’ REPORT
Outlook
Looking ahead to 2025 the global semiconductor market is expected to continue to experience a moderate recovery
driven by sustained strength in AI while the Chinese semiconductor market remains resilient. Under the leadership
of the entire management the Company will comprehensively enhance its management and operational efficiency.In R&D leveraging the newly operational 12-inch production line in Wuxi the Company will vigorously advance the
development of key technology platforms by shoring up weaknesses achieve breakthroughs in prioritized areas and
diversifying its product portfolio to strengthen its core competitiveness. In capacity the Hua Hong Manufacturing
Project will enter its ramp-up phase in 2025 unlocking further production capacity in a stepwise manner in synergy
with the Hua Hong Wuxi project to form a flexible capacity allocation system better aligning with customer demand. In
operations the Company will further improve operational efficiency and strengthen cost controls. In market strategy
focusing on the domestic ecosystem development the Company aims to expand and solidify its domestic client base
while collaborating with overseas strategic partners to implement the “China for China” strategy. These efforts are
designed to deliver enhanced performance for Hua Hong Semiconductor’s ecosystem partners and create value for
the Company and its shareholders.40 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 41
DIRECTORS’ REPORT
Management Discussion and Analysis
Financial Performance
2024 2023 Change
US$’000 US$’000
Revenue 2003993 2286113 (12.3)%
Cost of sales (1798865) (1799017) 0.0%
Gross profit 205128 487096 (57.9)%
Other income and gains 149072 144370 3.3%
Fair value (loss)/gain on an investment property (39) 103 (137.9)%
Selling and distribution expenses (9628) (10189) (5.5)%
Administrative expenses (351276) (322868) 8.8%
Other expenses (33395) (33666) (0.8)%
Finance costs (97113) (100497) (3.4)%
Share of profit of associates 3459 9230 (62.5)%
(Loss)/profit before tax (133792) 173579 (177.1)%
Income tax expense (6593) (47154) (86.0)%
(Loss)/profit for the year (140385) 126425 (211.0)%
Attributable to:
Owners of the parent 58108 280034 (79.2)%
Non-controlling interests (198493) (153609) 29.2%
Revenue
Revenue was US$2004.0 million 12.3% lower than 2023 primarily due to decreased average selling price partially
offset by an increase in the number of wafer shipments.Gross profit
Gross profit was US$205.1 million a decrease of 57.9% compared to 2023 mainly due to decreased average selling
price and increased depreciation costs.Administrative expenses
Administrative expenses were US$351.3 million an increase of 8.8% compared to 2023 mainly due to increased
research and development expenses and increased new fab start-up-costs.Share of profit of associates
Share of profit of associates was US$3.5 million a decrease of 62.5% compared to 2023 due to decreased profit
realized by the associates.Income tax expense
Income tax expense was US$6.6 million a decrease of 86.0% compared to 2023 mainly due to decreased taxable
profit.(Loss)/profit for the year
As a result of the cumulative effect of the above factors loss for the year was US$140.4 million compared to profit for
the year of US$126.4 million in 2023.40 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 41
DIRECTORS’ REPORT
Financial Status
31 December 31 December
2024 2023 Change
US$’000 US$’000
Non-current assets
Property plant and equipment 5859117 3519292 66.5%
Investment property 164153 166643 (1.5)%
Right-of-use assets 77761 78545 (1.0)%
Investments in associates 139799 139099 0.5%
Equity instruments designated at fair value
through other comprehensive income 289311 270506 7.0%
Other non-current assets 52464 199780 (73.7)%
Total non-current assets 6582605 4373865 50.5%
Current assets
Inventories 467060 449749 3.8%
Trade and notes receivables 270461 278669 (2.9)%
Due from related parties 18324 11219 63.3%
Other current assets 585902 212649 175.5%
Pledged deposits 31624 32088 (1.4)%
Cash and cash equivalents 4459132 5585181 (20.2)%
Total current assets 5832503 6569555 (11.2)%
Current liabilities
Trade payables 298372 235410 26.7%
Interest-bearing bank borrowings 280704 193035 45.4%
Due to related parties 9125 13876 (34.2)%
Government grants 57563 35017 64.4%
Other current liabilities 916474 495049 85.1%
Total current liabilities 1562238 972387 60.7%
Net current assets 4270265 5597168 (23.7)%
Non-current liabilities
Interest-bearing bank borrowings 1917235 1906526 0.6%
Other non-current liabilities 29016 49963 (41.9)%
Total non-current liabilities 1946251 1956489 (0.5)%
Net assets 8906619 8014544 11.1%42 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 43
DIRECTORS’ REPORT
Explanation of items with fluctuation over 10% from 31 December 2023 to 31 December 2024
Property plant and equipment
Property plant and equipment increased from US$3519.3 million to US$5859.1 million primarily due to capacity
expansion of the new production line.Other non-current assets
Other non-current assets decreased from US$199.8 million to US$52.5 million primarily due to decreased prepayments
for equipment.Due from related parties
Due from related parties increased from US$11.2 million to US$18.3 million primarily due to increased receivables
from certain of our related parties.Other current assets
Other current assets increased from US$212.6 million to US$585.9 million primarily due to increased value-added tax
credit.Cash and cash equivalents
Cash and cash equivalents decreased from US$5585.2 million to US$4459.1 million primarily due to reasons stated
in the cash flow analysis below.Trade payables
Trade payables increased from US$235.4 million to US$298.4 million primarily due to increased purchase of materials.Due to related parties
Due to related parties decreased from US$13.9 million to US$9.1 million primarily due to a payment of technology
purchased in the year.Government grants
Government grants increased from US$35.0 million to US$57.6 million primarily due to increased receipts of
government funding.Other current liabilities
Other current liabilities increased from US$495.0 million to US$916.5 million primarily due to increased payables for
capital expenditures.Interest-bearing bank borrowings
Total interest-bearing bank borrowings increased from US$2099.6 million to US$2197.9 million primarily due to
increased drawdowns of bank borrowings.Other non-current liabilities
Other non-current liabilities decreased from US$50.0 million to US$29.0 million primarily due to decreased deferred
tax liabilities.42 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 43
DIRECTORS’ REPORT
Cash Flow
2024 2023 Change
US$’000 US$’000
Net cash flows generated from operating activities 459495 641695 (28.4)%
Net cash flows used in investing activities (2671532) (833312) 220.6%
Net cash flows generated from financing activities 1150125 3781746 (69.6)%
Net (decrease)/increase in cash and cash equivalents (1061912) 3590129 (129.6)%
Cash and cash equivalents at beginning of the year 5585181 2008765 178.0%
Effect of foreign exchange rate changes net (64137) (13713) 367.7%
Cash and cash equivalents at end of the year 4459132 5585181 (20.2)%
Net cash flows generated from operating activities
Net cash flows generated from operating activities were US$459.5 million a decrease of 28.4% compared to 2023
mainly due to decreased receipts from customers.Net cash flows used in investing activities
Net cash flows used in investing activities were US$2671.5 million primarily attributed to US$2779.8 million for capital
investments and US$17.6 million for equity instrument investments offset by receipts of (i) US$82.0 million of interest
income (ii) US$41.2 million of government grants (iii) US$2.6 million of disposal of an equity instrument and (iv)
US$0.1 million for disposal of items of property plant and equipment.Net cash flows generated from financing activities
Net cash flows generated from financing activities were US$1150.1 million including (i) US$1181.8 million of capital
contribution from non-controlling interests (ii) US$289.3 million of proceeds from bank borrowings (iii) US$5.4 million
of government grants for interest expenses and (iv) US$3.6 million from share option exercises offset by (i) US$183.5
million of repayments of bank borrowings (ii) US$105.7 million of interest repayments (iii) US$36.2 million payment of
dividends and (iv) US$4.6 million payment of a principal portion of lease payments.Cash and cash equivalents
As a result of the cumulative effect of the above factors cash and cash equivalents decreased from US$5585.2 million
as of 31 December 2023 to US$4459.1 million as of 31 December 2024.44 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 45
DIRECTORS’ REPORT
Financial Risks
Interest rate risk
Our exposure to the risk of changes in market interest rates relates primarily to the Group’s interest-bearing bank
borrowings with a floating interest rate. Our policy is to manage interest rate risk using a mix of fixed and floating rate
debts.As at 31 December 2024 if the interest rates had been 100 basis points higher/lower with all other variables held
constant profit before tax for the year would have been US$20053000 lower/higher mainly as a result of higher/lower
interest expense on floating rate bank borrowings.Foreign currency risk
We have transactional currency exposures arising primarily from sales or purchases by our principal subsidiaries
operating in the Mainland China in US$ rather than the subsidiaries’ functional currency which is RMB. During
the year approximately 18% of our sales were denominated in currencies other than the functional currency of the
subsidiaries making the sale whilst 61% of costs of sales were denominated in the subsidiaries’ functional currency.In addition we have currency exposures from interest-bearing bank borrowings held by our subsidiaries operating in
the Mainland China. As at 31 December 2024 interest-bearing bank borrowings with a carrying amount of US$1502.3
million were dominated in US$ rather than the subsidiaries’ functional currency which is RMB.As at 31 December 2024 if the US$ had strengthened or weakened against the RMB by 5 percent with all other
variables held constant our profit before tax for the year would have been approximately US$99.6 million lower or
higher.Credit risk
We trade only with recognised and creditworthy third parties and related parties. It is our policy that all customers
who wish to trade on credit terms are subject to credit verification procedures. In addition receivable balances are
monitored on an ongoing basis and our exposure to bad debts is not significant.Our maximum exposure to credit risk in relation to our financial assets is: the carrying amounts of cash and cash
equivalents trade and notes receivables financial assets included in prepayments other receivables and other assets
amounts due from related parties and pledged deposits included in the consolidated statement of financial position.We have no other financial assets which carry significant exposure to credit risk.Liquidity risk
To meet liquidity requirements in the short and long term our policy is to monitor regularly the current and expected
liquidity requirements to ensure that we maintain sufficient reserves of cash and adequate committed lines of funding
from major financial institutions.Capital management
Our primary objectives of capital management are to safeguard our ability to continue as a going concern and to
maintain healthy capital ratios to support our business and maximize shareholders’ value.We manage our capital structure and make adjustments in light of 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 year.44 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 45
DIRECTORS’ REPORT
Gearing Ratio
Details of the gearing ratio are set out in Note 38 to the Financial Statements.Results
The results of the Group for the year ended 31 December 2024 and the state of affairs as at that date are set out in the
Financial Statements on pages 302 to 305 of this report.Final Dividends
Considering the capital-intensive nature of the semiconductor industry alongside the Group’s current development
and business model it is essential for the Group to retain adequate funds to fulfil its operational needs and fuel its
ongoing expansion of production capabilities R&D innovation and enhancement of market share which are conducive
to maintain the stability of the Group’s operations and promote its long-term development plans. Therefore subject to
approval at the Annual General Meeting the Board does not recommend payment of a dividend for the year ended 31
December 2024 (2023: HK$0.165 per Share).Dividend Policy
Subject to the approval of the Shareholders and the requirements of law it has been decided that the Company
will pay dividends to the Shareholders for the year of 2015 and onwards if the Group is profitable the operations
environment is stable and there is no significant investment made by the Group. It is intended that the average of
dividends paid in three consecutive years will be no less than 30% of the average distributable net profit of these three
years. The remaining net profit will be used for the development and operations of the Group.This dividend policy will continue to be reviewed from time to time and there can be no assurance that dividends will
be paid in any amount for any given period. In the event that the Board recommends a dividend the form and amount
will depend on the assessment by the Directors of the factors affecting the Group from time to time.Distributable Reserves
As at 31 December 2024 the Company has US$276812000 in distributable reserves available for distribution to
Shareholders.46 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 47
DIRECTORS’ REPORT
Bank Loans
The particulars of bank loans of the Group as at 31 December 2024 are set out in note 26 to the Financial Statements.As at 31 December 2024 certain of the Group’s bank loans were secured by pledges of the Group’s assets. Please
refer to note 26 to the Financial Statements for further details.Financial Summary
A summary of the published results and the assets and liabilities of the Group for the past five financial years is set out
on page 412. This summary does not form part of the audited financial statements.Property Plant and Equipment
Details of additions and other changes during the year ended 31 December 2024 in the property plant and
equipment and investment property of the Group are set out in notes 13 and 14 to the Financial Statements.In addition details of the investment property are set out below:
Gross Floor Area
Location Type of Use Term of Lease Group’s Interest (sq.m.)
Portions of 9 buildings Industrial use Held under a land 100% 91563.11
No. 818 Guo Shou Jing Road use right for a term
Zhangjiang Hi-Tech Park expiring on 8 March 2051
Pudong New Area
Shanghai PRC
Significant Events After the Reporting Period
As of the date of this report the Company has no significant events after the Reporting Period.Share Capital
Details of movement in the share capital of the Company during the year ended 31 December 2024 are set out in note
30 to the Financial Statements. These movements include the automatic inclusion of the amount standing to the share
premium account into the share capital as from 3 March 2014 in accordance with section 37 of Schedule 11 to the
New Companies Ordinance (Cap. 622) as part of the transition to the no-par value regime.46 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 47
DIRECTORS’ REPORT
Share Option Scheme
A share option scheme (the “Share Option Scheme”) was approved by an extraordinary general meeting of the
Company held on 1 September 2015. A summary of the Share Option Scheme is as follows:
Purpose of the Share Option Scheme: The purpose of the Share Option Scheme is to attract retain and
provide incentives to the Participants (defined below) to provide them
with the opportunity to obtain Shares of the Company and to link their
interests closely to the operating results and share performance of the
Company with the view to increasing the value of the Company.Participants: The participants of the Share Option Scheme (“Participants”)
include (1) existing Executive and Non-Executive Directors of any
member of the Group; or (2) senior management and key managerial
and technical personnel having a direct impact on the results of
operations and sustainable development of any member of the Group
subject always to any limits and restrictions specified in the Share
Option Scheme but shall not include any Independent Non-Executive
Directors.Maximum entitlement of each Participant: If the total number of Shares allotted and which may fall to be allotted
upon exercise of all the share options (“Share Options”) granted
and to be granted (including exercised cancelled and outstanding
Share Options) to a Participant in any 12-month period in aggregate
exceeds 1% of the issued share capital of the Company at the time
no further grant of Share Options shall be given to such Participant.Share Options may be granted to a Participant in excess of the
individual limit of 1% in any 12-month period only with the approval
of the Shareholders at a general meeting. No Share Option shall be
granted to any person who holds over 5% of Shares of the Company
which carry voting rights on the Grant Date (as defined in the Share
Option Scheme) unless such grant is approved by shareholders at
the general meeting.Minimum period if any for which an option Two years unless otherwise stated in the grant notice of the Share
must be held before it can be exercised: Option.The amount payable on application or HK$1.00 is to be paid by each grantee as consideration for the grant
acceptance of the Share Option and of Share Option within 28 days from the date of proposed offer.the period within which payments or calls
must be made or loans for such
purposes must be paid:
Number of options available for grant at the The Share Option Scheme shall be valid and effective for a period of
beginning and the end of year 2024 and seven (7) years commencing on the date of adoption. It has therefore
the remaining life of the Share Option Scheme: expired on 1 September 2022. No further options could be granted
and none has been granted under the Share Option Scheme from
that date.As at 31 December 2024 and the date of this report the total number of shares available for issue under the Share
Option Scheme is 19337302 shares and 12382480 shares representing approximately 1.13% and 0.72% of the total
number of shares in issue (representing all shares in issue of the listed company (including A Shares)) respectively.48 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 49
DIRECTORS’ REPORT
Share Options Granted under the Share Option Scheme
On 4 September 2015 the Company granted 30250000 Share options (the “2015 Options”) to subscribe for a total of
30250000 ordinary shares of the Company to certain individuals under the Share Option Scheme. Details of the 2015
Options are as follows:
Date of grant: 4 September 2015
Exercise price of options granted: HK$6.912
Number of options granted: 30250000 (representing 1.76% of the issued shares of the Company
as at 31 December 2023)
Validity period of the options: From 4 September 2015 to 3 September 2022 (seven (7) years) both
dates inclusive
Vesting period of the options: One third of the options shall vest on each of 4 September 2017 4
September 2018 and 4 September 2019
The exercise price of HK$6.912 per Share represents a premium of 0% over the higher of (i) the closing price of
HK$6.87 per Share as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the date of
the grant; (ii) the average closing price of HK$6.912 per Share as stated in the daily quotation sheets issued by the
Hong Kong Stock Exchange for the five trading days immediately preceding the date of the grant; and (iii) the closing
price of HK$6.800 per Share as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the
day immediately before the grant date.On 24 December 2018 the Company granted 34500000 share options (the “2018 Options”) to subscribe for a total of
34500000 ordinary shares of the Company to certain individuals under the Share Option Scheme. Details of the 2018
Options are as follows:
Date of grant: 24 December 2018
Exercise price of options granted: HK$15.056
Number of options granted: 34500000 (representing 2.01% of the issued shares of the Company
as at 31 December 2023)
Validity period of the options: From 24 December 2018 to 23 December 2025 (seven (7) years)
both dates inclusive
Vesting period of the options: For employees at or above the level of the vice president of the
Company (together with Directors) one fourth of the 2018 Options
shall vest on each of 24 December 2020 24 December 2021 24
December 2022 and 24 December 2023; for the other employees of
the Company one third of the 2018 Options shall vest on each of 24
December 2020 24 December 2021 and 24 December 202248 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 49
DIRECTORS’ REPORT
The exercise price of HK$15.056 per share represents the higher of (i) the closing price of HK$14.440 per share as
stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the date of the grant; (ii) the average
closing price of HK$15.056 per share as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange
for the five business days immediately preceding the date of the grant; (iii) the closing price of HK$14.380 per Share
as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the day immediately before the
grant date; and (iv) the nominal value of the share.On 29 March 2019 the Company granted 500000 share options (the “March 2019 Options”) to subscribe for a total of
500000 ordinary shares of the Company to one individual under the Share Option Scheme. Details of the March 2019
Options are as follows:
Date of grant: 29 March 2019
Exercise price of options granted: HK$18.400
Number of options granted: 500000 (representing 0.03% of the issued shares of the Company as
at 31 December 2023)
Validity period of the options: From 29 March 2019 to 28 March 2026 (seven (7) years) both dates
inclusive
Vesting period of the options: One fourth of the options will vest on each of 23 December 2021 12
August 2022 11 August 2023 and 9 August 2024
The exercise price of HK$18.400 per share represents the higher of (i) the closing price of HK$18.400 per share as
stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the date of the grant; (ii) the average
closing price of HK$18.176 per share as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange
for the five business days immediately preceding the date of the grant; (iii) the closing price of HK$18.220 per share
as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the day immediately before the
grant date; and (iv) the nominal value of the share.On 23 December 2019 the Company granted 2482000 share options (the “December 2019 Options”) to subscribe
for a total of 2482000 ordinary shares of the Company to certain individuals under the Share Option Scheme. Details
of the December 2019 Options are as follows:
Date of grant: 23 December 2019
Exercise price of options granted: HK$17.952
Number of options granted: 2482000 (representing 0.14% of the issued shares of the Company
as at 31 December 2023)
Validity period of the options: From 23 December 2019 to 22 December 2026 (seven (7) years)
both dates inclusive
Vesting period of the options: For employees at or above the level of the vice president of Hua Hong
Wuxi one fourth of the options will vest on each of 23 December
2021 23 December 2022 23 December 2023 and 23 December
2024; for the other employees of Hua Hong Wuxi one third of the
options will vest on each of 23 December 2021 23 December 2022
and 23 December 202350 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 51
DIRECTORS’ REPORT
The exercise price of HK$17.952 per share represents the higher of (i) the closing price of HK$17.260 per share as
stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the date of the grant; (ii) the average
closing price of HK$17.952 per share as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange
for the five business days immediately preceding the date of the grant; (iii) the closing price of HK$17.200 per share
as stated in the daily quotation sheets issued by the Hong Kong Stock Exchange on the day immediately before the
grant date; and (iv) the nominal value of the share.Among the March 2019 Options 500000 share options were granted to the Directors of the Company subject to their
acceptance.Details of the movements in the share options during the year ended 31 December 2024 are as follows:
Name or category of participants
Director
Number of share options Mr. Junjun Tang Resigned director Other employees Total
Granted at 4 September 2015 – 988000 – 29262000 – – 30250000
Granted at 24 December 2018 – – 680000 – 33820000 – 34500000
Granted at 29 March 2019 500000 – – – – – 500000
Granted at 23 December 2019 – – – – – 2482000 2482000
Cancelled/Lapsed during the year 2015 – – – -130000 – – -130000
Cancelled/Lapsed during the year 2016 – – – -1458000 – – -1458000
Cancelled/Lapsed during the year 2017 – – – -1353399 – – -1353399
Cancelled/Lapsed during the year 2018 – – – -754595 – – -754595
Cancelled/Lapsed during the year 2019 – – -600000 -58000 -1035000 -36000 -1729000
Cancelled/Lapsed during the year 2020 – -119000 -80000 – -993904 -84000 -1276904
Cancelled/Lapsed during the year 2021 -62500 – – – -5751868 -592993 -6407361
Cancelled/Lapsed during the year 2022 – – – – -543728 -73983 -617711
Cancelled/Lapsed during the year 2023 -8168 -6900 -15068
Exercised during the period – – – – 1740046 140075 1880121
Cancelled during the period – – – – – -6900 -6900
Lapsed during the period – – – – -87758 -116668 -204426
Outstanding at 1 January 2024 437500 – 19468101 1516248 21421849
Outstanding at 31 December 2024 437500 – 17640297 1259505 19337302
Vesting period of share options From 29 March From From From From From
2019 to 28 March 4 September 24 December 4 September 24 December 23 December
2026 2015 to 3 2018 to 23 2015 to 3 2018 to 23 2019 to 22
September December September December December
20222025202220252026
Exercise period of share options From 29 March From From From From From
2021 to 4 September 24 December 4 September 24 December 23 December
28 March 2026 2017 to 2020 to 23 2017 to 3 2020 to 23 2021 to 22
3 September December September 2022 December December
2022202520252026
Exercise price of share options HK$18.400 HK$6.912 HK$15.056 HK$6.912 HK$15.056 HK$17.952
Weighted average closing price of
the shares immediately before the
dates on which the share options were
exercised HK$20.67 HK$22.56
Save as disclosed above the Company has not adopted any other share option scheme during the year ended 31
December 2024.50 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 51
DIRECTORS’ REPORT
Reserves
Details of movements in the reserves of the Group during the year ended 31 December 2024 are set out in the
consolidated statement of changes in equity on pages 306 to 307 of this report.Issuance and Listing of Securities
Trading amount approved
Type of shares and to be listed as of the end of the
other derivative instruments Issue price Issue amount Listing date reporting period
Ordinary share RMB52.00 407750000 7 August 2023 391440000 (Circulating shares
not subject to selling restrictions);
16310000 (Circulating shares
subject to selling restrictions)
In order to enhance the overall competitiveness and strengthen the sustainable development capabilities of the
Company an extraordinary general meeting of the Company was held on 27 June 2022 to consider and approve the
resolution on the application for the initial public offering and listing of not more than 433730000 RMB Shares on the
STAR Market of the Shanghai Stock Exchange. The Board is of the view that the offering and listing of the Company
is in line with the relevant national industrial policies and the Company’s development strategies which will facilitate
the further expansion of the Company’s production capacity enhance the Company’s research and development
capabilities and enrich the technological platform. It helps the Company to better meet market demands and enhance
its market position and core competitiveness in the wafer foundry industry.On 7 August 2023 the Company was listed on the STAR Market of the Shanghai Stock Exchange under the stock
abbreviation of Hua Hong Company (華虹公司) and stock code of 688347.Through issuing the RMB Shares on the STAR Market of the Shanghai Stock Exchange a total of 407750000 ordinary
shares of the Company have been subscribed by eligible off-line investors as well as eligible natural persons legal
entities and other institutional investors (other than those prohibited by the laws and regulations and regulatory
documents of the PRC) or such other target subscribers meeting the relevant qualification requirements of the China
Securities Regulatory Commission and the Shanghai Stock Exchange who have maintained stock accounts with the
Shanghai Stock Exchange.52 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 53
DIRECTORS’ REPORT
The total proceeds raised amounted to RMB21203000000. After deducting the issuance expenses
including underwriting sponsorship fees as well as other issuance expenses the net proceeds amounted to
RMB20920677000 at an issue price of RMB52.00 per ordinary share (the closing price of the Company’s shares
on the Hong Kong Stock Exchange was HK$26.35 as at the date of the announcement of the Company in relation to
the terms of the RMB Share Issue (i.e. 4 August 2023)). Upon receipt of the proceeds the entire amount has been
deposited into a dedicated account for the proceeds which was approved by the Board. As of 31 December 2023
approximately RMB1944328349 of the net proceeds were utilized therefore approximately RMB18976348611 were
brought forward to the beginning of the Reporting Period. The proceeds raised will be utilised in accordance with the
previously disclosed intended use of the proceeds as set out below:
Unit: RMB
Accumulated Expected
unutilised timeframe for
Amount of proceeds at usage of
committed the end of the unutilised
Previously disclosed intended use of proceeds investments Reporting Period proceeds
Hua Hong Manufacturing (Wuxi) Project 12500000000.00 160279362.29 By the end of 2025
8-Inch Factory Optimisation and Upgrading Project 2000000000.00 1736605414.57 By the end of 2025
Specialty Technological Innovation Research and
Development Project 2500000000.00 1938773902.26 By the end of 2026
Replenishment of Working Capital 1000000000.00 – N/A52 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 53
DIRECTORS’ REPORT
Continuing Connected Transactions
The Group disclosed in the prospectus dated 3 October 2014 the continuing connected transactions with amongst
others Huali Micro Huahong Real Estate and Huajin Property Management. Certain details of such transactions are
summarized in the table below. With respect to such transactions the Company had applied for and the Hong Kong
Stock Exchange had granted a waiver from among others strict compliance with the announcement and independent
shareholders’ approval requirement (as the case may be). Details of such continuing connected transactions of the
Group together with certain other continuing connected transactions conducted during 2024 are set out as follows:
Actual Proposed
Transaction Transaction Annual
Transaction Date Parties to the Transaction Connected Relationship Transaction Amount 2024 Caps 2024
(1) 1 January 2024 Huahong Group (as purchaser) Huahong Group is a substantial T h e C o m p a n y ’s s a l e o f US$20441000 US$29320000
shareholder of the Company. semiconductor products to
The Company (as seller) Huahong Group its subsidiaries
Hongri and Huahong Zealcore and associates including
are owned 51% and 93.02% by Hongri and Huahong Zealcore
Huahong Group respectively. pursuant to the Huahong Group
Framework Agreement.
(2) 1 January 2024 Huahong Group (as seller) Huahong Group is a substantial The Company’s purchase of US$39531000 US$40425000
shareholder of the Company. wafers and chemicals from
The Company (as purchaser) Huahong Group its subsidiaries
Hongri and Huahong Zealcore and associates including
are owned 51% and 93.02% by Hongri and Huahong Zealcore
Huahong Group respectively. pursuant to the Huahong Group
Framework Agreement.54 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 55
DIRECTORS’ REPORT
Actual Proposed
Transaction Transaction Annual
Transaction Date Parties to the Transaction Connected Relationship Transaction Amount 2024 Caps 2024
(3) 1 January 2024 HHGrace (as service provider) Hua Hong Wuxi is a non-wholly Service agreement between RMB69912007 RMB140000000
owned subsidiary which is held HHGrace (as service provider) (approx. (approx.as to approximately 20.58% by and H ua H ong Wux i ( a s US$9.842000) US$19620000)
China IC Fund. recipient of services) in relation
As China IC Fund is no longer to the provision of corporate
a substantial shareholder of the services by HHGrace to Hua
Hua Hong Wuxi (as recipient of Company since 27 June 2024 Hong Wuxi.service) therefore Hua Hong Wuxi is no
longer a connected subsidiary
of the Company since the same
date.
(4) 1 January 2024 HHGrace (as rec ip ient o f Hua Hong Wuxi is a non-wholly Service agreement between US$63000(1) US$2550000
service) owned subsidiary which is held HHGrace (as rec ip ient o f
as to approximately 20.58% service) and Hua Hong Wuxi
Hua Hong Wuxi (as service by China IC Fund. As China IC (as service provider) in relation
provider) Fund is no longer a substantial to the provision of chemical
shareholder of the Company placing services.since 27 June 2024 therefore
Hua Hong Wuxi is no longer
a connected subsidiary of the
Company since the same date.
(5) 1 January 2024 Hua Hong Manufacturing (as Hua Hong Wuxi is a non-wholly Service agreement between RMB59974191 RMB120000000
recipient of service) owned subsidiary which is held Hua Hong Manufacturing (as (approx. (approx.as to approximately 20.58% recipient of services) and Hua US$8443000)(1) US$16817000)
Hua Hong Wuxi (as service by China IC Fund. As China IC Hong Wuxi (as service provider)
provider) Fund is no longer a substantial in relation to the provision of
shareholder of the Company joint venture internal services
since 27 June 2024 therefore by Hua Hong Wuxi to Hua Hong
Hua Hong Wuxi is no longer Manufacturing.a connected subsidiary of the
Company since the same date.
(6) 1 January 2024 Hua Hong Manufacturing (as Hua Hong Wuxi is a non-wholly Service agreement between RMB7100000 RMB7150000
recipient of service) owned subsidiary which is held Hua Hong Manufacturing (as (approx. (approx.as to approximately 20.58% recipient of services) and Hua US$999000)(1) US$1002000)
Hua Hong Wuxi (as service by China IC Fund. As China IC Hong Wuxi (as service provider)
provider) Fund is no longer a substantial in relation to the provision of
shareholder of the Company staff commissioning training
since 27 June 2024 therefore by Hua Hong Wuxi to the
Hua Hong Wuxi is no longer new employees of Hua Hong
a connected subsidiary of the Manufacturing.Company since the same date.54 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 55
DIRECTORS’ REPORT
Actual Proposed
Transaction Transaction Annual
Transaction Date Parties to the Transaction Connected Relationship Transaction Amount 2024 Caps 2024
(7) 25 February 2010 Huali Micro (as lessee) Huali Micro is 53.85% owned by Lease agreement between RMB98801000 RMB103000000
(together with Huahong Group a substantial Huali Micro (as lessee) and the (approx. (approx.the supplemental The Company (as lessor) shareholder of the Company. Company (as lessor) in relation US$13892000) US$14435000)
agreements dated to the factory premise situated
10 June 2011 and at Hill 2 13th street Zhangjiang
25 July 2014) Hi-Tech park Pudong New
Area Shanghai PRC leased by
the Company to Huali Micro for
their 300mm wafer production
line. The total gross floor area
leased was 96048.2 square
meters.
(8) 1 January 2024 Huali Micro (as lessee) Huali Micro is 53.85% owned by Lease agreement between Huali RMB1402000 RMB5316000
Huahong Group a substantial Micro (as lessee) and HHGrace (approx. (approx.HHGrace (as lessor) shareholder of the Company. (as lessor) in relation to certain US$197000) US$745000)
clean rooms in HHGrace’s
factory premises leased to Huali
Micro. The total gross floor area
leased was 192 square meters.
(9) 10 January 2013 Huahong Real Estate (as lessor) Huahong Real Estate is a Lease agreement between RMB11504000 RMB12700000
(together with w h o l l y - o w n e d s u b s i d i a r y Huahong Rea l Es ta te (as (approx. (approx.a supplemental The Company (as lessee) o f H u a h o n g Te c h n o l o g y lessor) and the Company US$1617000)(2) US$1780000)
agreement dated Development a company 50% (as lessee) in relation to the
10 June 2014) held by and consolidated with dormitory premises situated
Huahong Group a substantial at Hua Hong Innovation Park
shareholder of the Company Nong 2777 Jinxiu Road East
and 50% held by HHGrace a Pudong New Area Shanghai
wholly-owned subsidiary of the PRC (“Dormitory Premises”)
Company. rented by the Company from
Huahong Real Estate for use as
staff quarters for the Company’s
employees. The total gross
floor area rented was 17412.87
square meters.56 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 57
DIRECTORS’ REPORT
Actual Proposed
Transaction Transaction Annual
Transaction Date Parties to the Transaction Connected Relationship Transaction Amount 2024 Caps 2024
(10) 1 January 2024 Huajin Property Management Huajin Property Management P r o p e r t y m a n a g e m e n t RMB3933000 RMB5700000
(as property manager) is a wholly-owned subsidiary agreement between Huajin (approx. (approx.o f H u a h o n g Te c h n o l o g y Proper ty Management (as US$553000) US$799000)
The Company (as lessee) Development a company 50% property manager) and the
held by and consolidated with Company (as lessee) in relation
Huahong Group a substantial to the engagement of Huajin
shareholder of the Company Property Management by the
and 50% held by HHGrace a Group to provide property
wholly-owned subsidiary of the management services for the
Company. Dormitory Premises.
(11) 1 January 2023 Huahong Real Estate (as lessor) Huahong Real Estate is a Lease agreement between RMB6586000 RMB7300000
w h o l l y - o w n e d s u b s i d i a r y Huahong Rea l Es ta te (as (approx. (approx.HHGrace (as lessee) o f H u a h o n g Te c h n o l o g y lessor ) and HHGrace (as US$927000) (3) US$1023000)
Development a company 50% lessee) in re la t ion to the
held by and consolidated with dormitory premises situated
Huahong Group a substantial at Hua Hong Innovation Park
shareholder of the Company Nong 2777 Jinxiu Road East
and 50% held by HHGrace a Pudong New Area Shanghaiwholly-owned subsidiary of the PRC (“Additional DormitoryCompany. Premises”) rented by the
Company from Huahong Real
Estate for use as staff quarters
for the Company’s employees.The total gross floor area rented
was 9977.17 square meters.56 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 57
DIRECTORS’ REPORT
Notes:
(1) As China IC Fund ceased to be the substantial shareholder of the Company since 27 June 2024 therefore Hua Hong Wuxi is
no longer a connected subsidiary of the Company since the same date and the relevant transaction between the Group and
Hua Hong Wuxi ceased to be a connected transaction under the Listing Rules since that date and the disclosure of the amount
of the above continuing connected transaction only covers the period from 1 January 2024 to 27 June 2024 (inclusive).
(2) The Group entered into a twenty-year lease with respect to certain dormitory premises from Huahong Real Estate before the
adoption of Hong Kong Financial Reporting Standard 16. Thus the Group are not required to re-comply with the notifiable
or connected transaction Rules. The amount of rent payable by the Group under the lease is US$1617000 per year. As at
31 December 2024 the balances of those right-of-use assets and lease liabilities were US$9694000 and US$12237000
respectively.
(3) The Group entered into an additional lease of dormitory premises from Huahong Real Estate. The amount of rent payable by the
Group under the lease is US$927000 per year. As at 31 December 2024 the balances of those right-of-use assets and lease
liabilities were US$6341000 and US$6611000 respectively.The price and terms of the continuing connected transactions as described above were determined in accordance
with the pricing policies and guidelines as set out in the relevant announcements of the Company. The Board (including
the Independent Non-Executive Directors) has reviewed the continuing connected transactions as described above
and confirmed that such transactions did in fact continue in 2024:
(i) in the ordinary and usual course of business of the Company;
(ii) either on normal commercial terms or if there are no sufficient comparable transactions to judge whether they
are on normal commercial terms on terms no less favourable to the Company than terms available to or from (as
appropriate) independent third parties; and
(iii) in accordance with the relevant agreements on terms that are fair and reasonable and in the interests of the
Shareholders of the Company as a whole.The auditors of the Company have confirmed in a letter to the Board that with respect to the aforesaid continuing
connected transactions of 2024:
(i) nothing has come to their attention that causes the auditors to believe that the disclosed continuing connected
transactions have not been approved by the Company’s Board;
(ii) for transactions involving the provision of goods or services by the Group nothing has come to their attention
that causes the auditors to believe that the transactions were not in all material respects in accordance with the
pricing policies of the Company;
(iii) nothing has come to their attention that causes the auditors to believe that the transactions were not entered into
in all material respects in accordance with the relevant agreements governing such transactions; and
(iv) with respect to the aggregate amount of each of the continuing connected transactions nothing has come to their
attention that causes the auditors to believe that the disclosed continuing connected transactions have exceeded
the relevant annual caps disclosed in the relevant announcement(s) with respect to each of the disclosed
continuing connected transactions.58 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 59
DIRECTORS’ REPORT
Related Party Transactions
During the year ended 31 December 2024 the Group entered into certain transactions with parties regarded as
“related parties” under the applicable accounting standards. Details of the related party transactions entered into by the
Group during the year ended 31 December 2024 are disclosed in note 35 to the financial statements. The Company
has complied with the disclosure requirements set out in Chapter 14A of the Listing Rules. Save as disclosed in the
section headed “Continuing Connected Transactions and Connected Transactions” in this annual report the other
related party transactions disclosed in note 35 were not regarded as connected transactions or were exempt from
reporting announcement and shareholder approval requirements under the Listing Rules.Significant Investments
The Group did not hold any significant investment (with a value of 5% or more of the Group’s total assets) as of 31
December 2024.Future Plans for Material Investments and Capital Assets
Save as disclosed in this report the Group did not have other concrete plans for material investments or capital assets
as of 31 December 2024.Annual General Meeting
The AGM will be held on Thursday 8 May 2025.Closure of Register of Members
For determining the eligibility of Shareholders to attend and vote at the AGM
Latest time to lodge transfer documents for registration 4:30 p.m. on 30 April 2025 (Wednesday)
Closure of register of members 2 May 2025 (Friday) to 8 May 2025 (Thursday)
(both dates inclusive)
Record date 8 May 2025
In order to be eligible to attend and vote at the Annual General Meeting unregistered holders of shares should
ensure all share transfer forms accompanied by the relevant share certificates are lodged with the Company’s branch
share registrar Tricor Investor Services Limited at 17/F Far East Finance Centre 16 Harcourt Road Hong Kong for
registration no later than the aforementioned latest time.58 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 59
DIRECTORS’ REPORT
Directors and Directors’ Service Contracts
The Directors of the Company during the year and as of the date of this report were:
Executive Directors:
Mr. Junjun Tang (Chairman) (appointed as Chairman on 31 December 2024)
Dr. Peng Bai (President) (appointed on 1 January 2025)
Mr. Suxin Zhang (resigned on 31 December 2024)
Non-Executive Directors:
Mr. Jun Ye
Mr. Guodong Sun
Mr. Bo Chen (appointed on 7 March 2025)
Ms. Chengyan Xiong (appointed on 28 March 2024)
Mr. Limin Zhou (appointed on 19 January 2024 resigned on 7 March 2025)
Independent Non-Executive Directors:
Mr. Stephen Tso Tung Chang
Mr. Kwai Huen Wong JP
Mr. Songling Feng (appointed on 28 March 2024)
Mr. Long Fei Ye (resigned on 28 March 2024)
Each of the Directors of the Company is appointed for a specific term of three years and is subject to re-nomination
and re-election by the Company in general meetings unless his/her appointment has been early terminated in
accordance with the terms and conditions of the relevant letter of appointment or director’s service contract.Mr. Jun Ye Mr. Guodong Sun and Mr. Stephen Tso Tung Chang will retire by rotation from office as directors at the
Annual General Meeting in accordance with articles 117 to 118 of the Articles. Dr. Peng Bai and Mr. Bo Chen were
appointed by the Board as Executive Director and Non-Executive Director on 1 January 2025 and 7 March 2025
respectively and will retire at the Annual General Meeting in accordance with article 122 of the Articles. Mr. Jun Ye
Mr. Guodong Sun Mr. Stephen Tso Tung Chang Dr. Peng Bai and Mr. Bo Chen being eligible will offer themselves
for re-election pursuant to the Articles.None of the Directors proposed for re-election at the general meeting has a service contract which is terminable by the
Group within one year without payment of compensation other than statutory compensation.The Company has received annual confirmation of independence from each of the existing Independent Non –
Executive Directors and Mr. Long Fei Ye in accordance with Rule 3.13 of the Listing Rules. The Company considers
that all the aforesaid current and former Independent Non-Executive Directors are independent in accordance with the
Listing Rules.Profiles of Directors and Senior Management
Profiles of Directors and Senior Management of the Company are set out on pages 12 to 20 of this report.60 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 61
DIRECTORS’ REPORT
Remuneration of the Highest Paid Individuals and Directors and Senior Management
Details of the remuneration of the Directors and the five highest paid individuals are set out in Note 9 to the
consolidated financial statements in this annual report respectively.Interests of the Directors and the Chief Executive in Shares and Underlying Shares
of the Company
As at 31 December 2024 save as disclosed below none of the Directors or the Chief Executive of the Company had
any interests or short positions in the shares underlying shares or debentures of the Company or any associated
corporation (within the meaning of Part XV of the SFO) as recorded in the register kept under section 352 of the SFO
or as otherwise notified to the Company and the Hong Kong Stock Exchange pursuant to the Model Code contained in
the Listing Rules.Number of underlying Approximate
shares held in long percentage
Name of Director Capacity position(1) of interests
Mr. Junjun Tang Beneficial owner 448500 0.03%
Note:
(1) Long position in (a) 437500 underlying shares of the Company under share options granted pursuant to the Share Option
Scheme and (b) 11000 RMB Shares he held.Interests of Directors in a Competing Business
During the year none of the Directors of the Group had any interests in a business which competes either directly or
indirectly with the business of the Company or the Group.Interests of Directors in Transactions Arrangements or Contracts of Significance
No transaction arrangement or contract of significance to which the Company or any of its subsidiaries or associates
was a party and in which a Director or an entity connected with a Director has or had a material interest whether
directly or indirectly subsisted at the end of the year ended 31 December 2024 or at any time during the year.Directors’ Securities Transactions
The Company has devised its own code of conduct regarding Directors dealing in the Company’s securities (the
“Company Code”) on terms no less exacting than the Model Code. Specific enquiry has been made to all the
Directors and the Directors have confirmed that they have complied with the Company Code and the Model Code
throughout 2024.60 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 61
DIRECTORS’ REPORT
Indemnity and Insurance
The Company provides directors and officers liabilities (D&O) insurance for the Directors and Officers. The D&O
insurance covers day-to-day management liability and is renewed every year.Director(s) of the Subsidiaries
The names of Directors who have served on the boards of the Company’s subsidiaries during the year ended 31
December 2024 or during the period from the end of the year 2024 to the date of this report were as follows:
Name of the Subsidiary Place of Incorporation Name of the Director(s)
HHGrace Shanghai PRC Mr. Junjun Tang
Dr. Peng Bai
Mr. Jun Ye
Mr. Bo Chen
Ms. Chengyan Xiong
Mr. Stephen Tso Tung Chang
Mr. Kwai Huen Wong JP
Mr. Songling Feng
Mr. Suxin Zhang(2)
Mr. Limin Zhou(2)
Mr. Long Fei Ye(2)
Hua Hong Wuxi Wuxi PRC Mr. Junjun Tang
Mr. Jun Wei
Dr. Peng Bai
Mr. Guodong Sun
Mr. Weihua Wu
Mr. Bo Chen
Mr. Xin Jin
Mr. Suxin Zhang(3)
Mr. Limin Zhou(3)
Hua Hong Manufacturing Wuxi PRC Mr. Junjun Tang
Mr. Jun Wei
Dr. Peng Bai
Mr. Guodong Sun
Mr. Weihua Wu
Mr. Bo Chen
Mr. Xin Jin
Mr. Suxin Zhang(4)
Mr. Limin Zhou(4)
Huahong Real Estate (Wuxi) Co. Ltd. Wuxi PRC Mr. Weiping Zhou
Global Synergy Technology Limited Hong Kong PRC Mr. Daniel Yu-Cheng Wang
Mr. Cheng Fu
Grace Cayman Cayman Islands Mr. Suxin Zhang
Mr. Jun Ye
HHGrace Semiconductor USA Inc. CA USA Mr. Daniel Yu-Cheng Wang
Mr. Cheng Fu
HHGrace Semiconductor Japan Co. Ltd. Tokyo Japan Ms. Maki Nakamura
Mr. Daniel Yu-Cheng Wang
Mr. Cheng Fu62 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 63
DIRECTORS’ REPORT
Notes:
(1) Dr. Peng Bai Mr. Bo Chen Ms. Chengyan Xiong and Mr. Songling Feng were appointed as directors of HHGrace in January
2025 March 2025 April 2024 and April 2024 respectively and have been registered with the relevant market supervision and
management authority.
(2) The resignation of each of Mr. Suxin Zhang Mr. Limin Zhou and Mr. Long Fei Ye as a director of HHGrace was registered with
the relevant market supervision and management authority.
(3) Dr. Peng Bai and Mr. Bo Chen were appointed as directors of Hua Hong Wuxi in January 2025 and March 2025 respectively.
Mr. Suxin Zhang and Mr. Limin Zhou resigned as directors of Hua Hong Wuxi and the registration of the relevant market
supervision and management authority is in the process of change.
(4) Dr. Peng Bai and Mr. Bo Chen were appointed as directors of Hua Hong Wuxi in January 2025 and March 2025 respectively.
Mr. Suxin Zhang and Mr. Limin Zhou resigned as directors of Hua Hong Wuxi and the relevant market supervision and
management authority is in the process of change.Interests of Substantial Shareholders and Other Persons in the Shares and
Underlying Shares of the Company
As at 31 December 2024 persons other than a Director or Chief Executive of the Company having interests of 5% or
more or short positions in the shares and underlying shares of the Group were as follows:
Approximate
percentage of
aggregate
interests in
Number of issued share
Substantial shareholders Capacity and nature of interest shares held capital*
Shanghai Hua Hong International Inc. Legal and beneficial owner 347605650(1) 20.23%
(“Hua Hong International”)(2)
Huahong Group(2) Interest in a controlled corporation 347605650(1) 20.23%
Legal and beneficial owner 1198517(3) 0.07%
Sino-Alliance International Ltd. Legal and beneficial owner 160545541(1)(4) 9.34%
(“Sino-Alliance International”)
Sino-Alliance International Interest in a controlled corporation 28415606(1) 1.65%
SAIL Interest in a controlled corporation 188961147(1)(5) 10.99%
Xinxin (Hong Kong) Capital Co. Limited Legal and beneficial owner 118495939(1) 6.90%
Xun Xin (Shanghai) Investment Co. Ltd. Interest in a controlled corporation 118495939(1) 6.90%
China IC Fund Interest in a controlled corporation 118495939(1) 6.90%
Notes:
(1) Long positions in the shares of the Company.
(2) Hua Hong International is a wholly-owned subsidiary of Huahong Group.
(3) Huahong Group directly held a total of 1198517 A shares.
(4) Including 3084 shares held in escrow by Sino-Alliance International pursuant to an escrow arrangement.
(5) SAIL indirectly held interests in the Company through two wholly-owned subsidiaries including Sino-Alliance International.
* The percentages are calculated based on the total number of shares of the Company in issue as at 31 December 2024 i.e.
1718468815 shares.62 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 63
DIRECTORS’ REPORT
Save as disclosed above so far as is known to any of the Directors and the Chief Executive of the Company as at
31 December 2024 no other person or corporation other than a Director or Chief Executive of the Company had any
interests or short positions in any shares or underlying shares of the Company which were recorded in the register
required to be kept by the Company pursuant to section 336 of the SFO.Arrangements to Purchase Shares or Debentures
At no time during the year ended 31 December 2024 were rights to acquire benefits by means of an acquisition of
shares in or debentures of the Company granted to any of the Directors or their respective spouses or minor children
or were any such rights exercised by them or was the Company or any of its holding companies subsidiaries or
fellow subsidiaries a party to any arrangements to enable the Directors or their respective spouses or minor children
to acquire such rights in any other body corporate.Major Customers and Suppliers
Purchases attributable to the Group’s top five suppliers combined were less than 30% of the Group’s total purchases
for the Reporting Period.Revenue from sales attributable to the Group’s largest customer and the five largest customers combined accounted
for approximately 9.1% and 30.1% respectively of the Group’s total sales revenue for the Reporting Period.None of the Directors or any of their close associates (as defined in the Listing Rules) or any Shareholders (whom to
the best knowledge of the Directors own more than 5% of the total number of issued shares of the Company) had a
material interest in the Group’s five largest customers during the Reporting Period.Emolument Policy
As at 31 December 2024 the Group had a total of 7487 employees. The Group recruits and promotes individuals
based on their merit and development potential. The emolument policy for employees of the Group is set up by the
Remuneration Committee on the basis of their merit qualifications and competence.The emoluments of the Directors are determined by the Remuneration Committee having regard to the Group’s
operating results and individual performance. The emoluments of the Directors on a named basis are set out in note 8
to the financial statements for the year ended 31 December 2024.Purchase Sale or Redemption of Securities
For the year ended 31 December 2024 neither the Company nor any of its subsidiaries purchased sold or redeemed
any of the Company’s listed securities.Right of First Refusal
There are no provisions for right of first refusal under the Articles or the laws of Hong Kong which would oblige the
Company to offer new shares on a pro-rata basis to existing shareholders.64 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 65
DIRECTORS’ REPORT
Corporate Governance
The Company is committed to maintaining a high standard of corporate governance to safeguard the interests of
shareholders and to enhance corporate value and accountability.Information on the corporate governance practices adopted by the Company is set out in the Corporate Governance
Report in this annual report.Compliance with the Relevant Laws and Regulations
As far as the Board is aware the Company has complied in all material respects with the relevant laws and regulations
that have a significant impact on the business and operation of the Company.Environmental and Social Responsibilities
The Company firmly believes that robust and effective environmental social and governance (ESG) management is
the foundation for sustainable and high-quality development. The concept of ESG has been deeply integrated into the
Company’s strategy management and long-term development goal and has been involved in the entire process of
our business operations so as to drive continuous business growth and create and share value for all stakeholders.During the Reporting Period the Company revised its ESG management objectives to further enhance its management
capabilities in energy greenhouse gas emissions water resources and waste disposal to higher standards aligning
with evolving industry trends and seizing market opportunities. This initiative underscores the Company’s unwavering
commitment to advancing on the path of sustainable development. Moreover the Company obtained Platinum Award
rating certification from the Responsible Business Alliance.Compliance with the Deed of Non-Competition and the Deed of Right of First
Refusal
Huahong Group SAIL and INESA (Group) Co. Ltd. being the then controlling shareholders of the Company entered
into a deed of non-competition (the “Deed of Non-Competition”) dated 23 September 2014 details of which have been
set out in the paragraph headed “Non-Competition Undertaking” in the section headed “Relationship with ControllingShareholders” of the Company’s prospectus dated 3 October 2014 (the “Prospectus”). In addition Huahong Group
and SAIL also 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 “Relationshipwith Controlling Shareholders” of the Prospectus. The Company has reviewed the written declaration from each of
the controlling shareholders mentioned above on their compliance with their undertakings under the Deed of Non-
Competition and the Deed of Right of First Refusal (as the case may be) for the year ended 31 December 2024. The
Independent Non-Executive Directors have reviewed the status of compliance and confirmed that all the undertakings
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.64 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 65
DIRECTORS’ REPORT
Sufficiency of Public Float
Based on the information that is publicly available to the Company and within the knowledge of the Directors as at the
date of this report the Directors are satisfied that the Company has maintained the prescribed minimum public float
under the Listing Rules.On behalf of the Board
Junjun Tang
Chairman
27 March 202566 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 67
2024 ENVIRONMENTAL SOCIAL AND
GOVERNANCE REPORT
Report Preparation Instructions
This report is the ninth Environmental Social and Governance Report of Hua Hong Semiconductor Limited disclosing
to stakeholders the Company’s operating philosophy established management practices implemented work and
results achieved in ESG topics during its operations.Scope of the Report
The scope of this report covers Hua Hong Semiconductor Limited (“Hua Hong Semiconductor” “the Company” or
“we”). Unless otherwise specified its scope is consistent with the scope of the consolidated financial statements for
the same period of Hua Hong Semiconductor (stock code: 01347.HK/688347.SH).The factories of Hua Hong Semiconductor involved in production and manufacturing include the Shanghai Production
base and Wuxi Production Base. The Shanghai Production Base covers Fab 1 Fab 2 and Fab 3 while the Wuxi
Production Base covers Fab 7. Wuxi Fab 9 was completed and put into production in December 2024 and is not
included in the scope of this report.Reporting Period
This Reporting Period is from 1 January 2024 to 31 December 2024. Unless otherwise stated the data in this report
refers to the data within this period.Basis of Preparation
This report is prepared in accordance with Appendix C2 Environmental Social and Governance Reporting Guide
(effective from 31 December 2023) of the Listing Rules issued by the Hong Kong Stock Exchange Self-Regulatory
Guidelines No.14 for Companies Listed on Shanghai Stock Exchange—Sustainability Report (For Trial Implementation)
(April 2024) issued by the Shanghai Stock Exchange and the Environmental Social and Governance (ESG) Indicator
System for State-owned Listed Companies in Shanghai (Version 1.0) issued by the Shanghai Municipal State-owned
Assets Supervision and Administration Commission (“Shanghai SASAC”).Data Description
The data and cases in the report come from the Company’s official records of actual operations. The financial data
in the report were all denominated in RMB. If there is a discrepancy between the financial data and the Company’s
annual financial report the annual financial report shall prevail.Report Acquisition Method
This report is published in electronic form. The publishing platform includes the information disclosure platform
designated by the stock exchange and can also be viewed online or downloaded from the Company’s official website
(https://www.huahonggrace.com).Contact Us
If you have any suggestions regarding the report please contact us through the following methods:
Contact address: 288 Halei Road Zhangjiang Hi-Tech Park Shanghai PRC
Contact email: IR@ hhgrace.com66 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 67
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Reporting Principles
Materiality
The Company has identified the material topics related to its operations that are of concern to various stakeholders as
the focus of this report. While reporting on material topics in this report attention is also paid to the characteristics of
the industry and business operations in which the Company is involved. For details of the process and results of the
materiality analysis of topics please see the “Materiality Assessment” section of this report.Accuracy
The information in this report is as accurate as possible. Among them the measurements of quantitative information
have been described with data calibrations calculation bases and assumptions to ensure that the range of calculation
errors would not be misleading to the users of the information. For details of the quantitative information and the
accompanying information please see the “ESG Data and Notes” section of this report.Balance
The contents of this report reflect objective and truthful facts and provide unbiased disclosure of both positive and
negative information concerning the Company. During the Reporting Period no negative events were discovered that
should have been disclosed but were not.Clarity
This report is issued in simplified Chinese traditional Chinese and English. This report contains information such as
tables model diagrams and lists of laws regulations and relevant policies that the Company has complied with as an
adjunct to the textual content of this report so as to facilitate stakeholders to better understand the textual content of
the report. To facilitate faster access to information by stakeholders this report provides a table of contents and an
index table of ESG standards.Quantitative
This report discloses key quantitative disclosures and where possible historical data.Comparability
This report maintains a consistent approach to statistics and disclosure of the same quantitative disclosure items in
different reporting periods; if there are changes in the method of data collection measurement and calculation the
relevant data will be adjusted retrospectively and the circumstances and reasons for the adjustments will be explained
in the notes to the report so as to enable stakeholders to conduct meaningful analyses and assess the trend of the
development of the Company’s ESG data levels.Completeness
The scope of the disclosure object of this report is consistent with the scope of the Company’s consolidated financial
statements.Timeliness
This is an annual report covering the time period from 1 January 2024 to 31 December 2024
Verifiability
The cases and data in this report come from the original records of the Company’s actual operations or financial
reports. The sources of data and calculation processes disclosed by the Company are traceable and can be used to
support external verification checks.68 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 69
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
ESG Management Statement of the Board
The Company adheres to the entrepreneurial spirit of “set a course mastering the challenges ahead” with the vision of
empowering our customers through continuous innovation. We focus on “8-inch + 12-inch” and advanced “SpecialtyIC + Power Discrete” development strategies providing diversified wafer foundry and related support and strongly
supporting emerging applications in new energy vehicles green energy and the Internet of Things. Our commitment
to an exceptional quality management system ensures that we meet the stringent requirements of automotive electronic
chips.The Board places great emphasis on Environmental Social and Governance (ESG) matters recognizing them as
a core component of the Company’s sustainable development strategy. The Board directs the formulation of ESG
management policies and development strategies guides the identification and determination of significant ESG
topics. Directors and senior executives regularly monitor and review the progress of the Company’s ESG objectives to
ensure continuous improvement in environmental protection social responsibility and corporate governance.During the Reporting Period the Company reformulated its ESG management objectives and will systematically
improve the full-cycle management efficiency in the fields of energy control water recycling greenhouse gas
emissions and waste under the guidance of advanced standards actively responding to the national “Dual Carbon”
strategic orientation. Through the construction of a data-driven governance system and in-depth integration of
ESG standards we will dig deep into green economic opportunities demonstrate strategic determination in clean
technology application and industrial chain layout and firmly determine to forge ahead on the road of sustainable
development.During the Reporting Period the Company obtained Platinum Award rating certification from the Responsible Business
Alliance focusing on key areas such as employee rights environmental responsibility health and safety business
ethics and management systems. We have systematically integrated social responsibility into production operations to
ensure green healthy and sustainable development. The management practices and progress of ESG topics in this
report were considered and approved at the meeting of the Board of Directors of the Company.68 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 69
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
1. Materiality Assessment
1.1 Double Materiality Analysis
In compliance with the Hong Kong Stock Exchange’s Environmental Social and Governance Reporting Guide and theSelf-Regulatory Guidelines No.14 for Companies Listed on Shanghai Stock Exchange—Sustainability Report（ For TrialImplementation) (the “SSE Guidelines”) and with reference to international sustainability disclosure standards such as
the GRI Sustainability Reporting Standards from the Global Sustainability Standards Board the Company analyzes and
evaluates each ESG topic from the dual perspectives of impact materiality and financial materiality to determine the
material topics.Hua Hong Semiconductor 2024 Topics Double Materiality Analysis Process
Step Details
Step 1 * Gain insights into the Company’s strategic plans.Understand the Context of Company Activities and * Analyze the external market environment in which the
Business Relationships Company operates.* Identify value chain segments that generate impacts
and the key stakeholders.Step 2 * Communicate with key stakeholders to identify and
Conduct Stakeholder determine topics related to the Company taking into
Engagement Topic Identification and Due Diligence account the industry background and the Company’s
practices.* Conduct due diligence through engagement surveys
interviews and other methods to engage stakeholders
and analyze and identify the impacts risks and
opportunities of the topics.Step 3 * Establish key indicators and evaluation criteria using a
Materiality Assessment scientific and effective methodology.* Engage senior management and financial leaders to
assess the financial materiality of the topics while
involving employees suppliers customers and other
stakeholders to evaluate the impact materiality of
the topics thereby determining the ranking of topics
based on their overall materiality.Step 4 * After review and confirmation by the Company’s Board
Topic Identification and Disclosure of Directors prioritize the disclosure of topics deemed
highly material for the 2024 in this report.70 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 71
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
1.2 Stakeholder Engagement and Due Diligence
Based on the business and operational characteristics of our Company and leveraging the experience and practices
in industry at home and abroad Hua Hong Semiconductor has determined the following to be our stakeholders:
our shareholders and senior management customers employees government and regulatory authorities partners
communities and the public. The Company has established a stakeholder engagement mechanism to maintain close
engagement with these stakeholders via various channels and methods including websites media meetings reports
and social activities. This mechanism enables the Company to promptly address the concerns of stakeholders.Hua Hong Semiconductor Stakeholder Concerns and Engagement Methods
Key Stakeholders Description Concerned Topics Engagement and
Response Methods
Shareholders Domestic and foreign * Corporate governance * Financial and performance
and senior investors holding equity * Risk and compliance reports Shanghai Stock
management and debt investments in management Exchange e-interaction
our Company and senior * Business ethics platform emails and
management members of * Product and service roadshows
the Company safety and quality * Risk management system
* Anti-corruption mechanisms
* Comprehensive audits
* Quality reviews
Customers IDMs and fabless * Information security and * Information Security
semiconductor companies privacy protection Management System (ISMS)
* Product and service * ISO9001 and other quality
safety and quality management certifications
* R&D innovation and * Customer satisfaction surveys
intellectual property * Technical seminars and
protection industry exchange meetings
* Green products * Product lifecycle
* Clean technology management
opportunities
* Circular economy
Employees Our employees and * Rights and Interests of * Employee rights protection
contract personnel who Employees systems
serve our Company on a * Employee health and * Dual prevention mechanism
continuous basis safety for safety risk classification
* Employee development control and hidden
and training danger investigation and
management
* Comprehensive training
programs for all levels70 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 71
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Key Stakeholders Description Concerned Topics Engagement and
Response Methods
Government Tax environmental * Compliant operation * Compliance and internal
and regulatory protection safety and * Emissions and waste control systems
authorities other departments local management * Carbon footprint reports
governments and * Energy management * Water resource risk
regulatory authorities * Water resources assessments in factory
(such as SFC etc.) management operations
* Climate change * Environmental information
mitigation and adaptation disclosure
Partners Suppliers research * R&D innovation and * Industry exchanges
institutions industry intellectual property * Responsible Business
associations etc. protection Alliance (RBA) certification
* Sustainable supply * Local supplier diversification
chain management * Supplier social responsibility
* Circular economy audit mechanisms
Communities Communities in which we * Community and public * Engagement in Community
and the public operate the public and welfare activities employee volunteer
media etc. * Emissions and waste activities public welfare
management activities social cause
campaigns etc.* Environmental information
disclosure
The Company established and gradually improved due diligence mechanism appointed the ESG Working Group to
lead and coordinate various departments to carry out due diligence such as stakeholder communication interviews
and research so as to analyze identify and determine the impacts risks and opportunities of ESG topics in the short
term (within 1 year) medium term (1 year to 5 years) and long term (more than 5 years) so as to facilitate targeted
response measures.Hua Hong Semiconductor 2024 Topics Impacts Risks and Opportunities Analysis
Value Chain Scope
No. Topics Timeframe Key Risks and Opportunities Upstream Operations Downstream
1 Climate Change Short Risk: Increasing compliance costs √ √ √
Mitigation and Medium and low-carbon technology upgrade
Adaptation Long-term requirements due to stricter global
climate and environmental policies and
carbon emission control measures
Opportunity: Investments in climate-
friendly technologies and development
of more efficient eco-friendly products
can enhance market competitiveness
and brand reputation72 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 73
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Value Chain Scope
No. Topics Timeframe Key Risks and Opportunities Upstream Operations Downstream
2 Energy Short Risk: Optimizing energy management √ √ √
Management Medium systems may incur additional costs and
Long-term raise concerns from energy-efficiency-
focused customers and investors
Opportunity: Decl in ing costs of
renewable energy (e.g. solar wind)
provide stable low-cost energy options
reducing reliance on fossil fuels
3 Water Medium Risk: Water shortages in production √
Resources Long-term operations may lead to disruptions
Management unstable water quality and reduced
capacity and product yield increasing
costs and revenue losses
Opportunity: Improved water resources
m a n a g e m e n t s y s t e m s e n h a n c e
efficiency and reduce operational costs
4 Emissions Medium Risk: Stricter emissions regulations may √ √
and Waste Long-term invest funds to ensure that its production
Management processes and waste management
meet new regulatory requirements
including upgrading treatment facilities
or introducing new emission treatment
technologies
Opportunity: Higher waste recycling
rates can transform waste into reusable
resources lowering raw material costs
5 Environmental Medium Risk: Evolving environmental regulations √ √ √
management Long-term require diligence and monitoring to
ensure the operations comply with
al l relevant laws and standards.Non-compliance may result in fines
sanctions or production restrictions
Opportunity: Strong environmental
practices can attract ESG-focused
investors and customers enhancing
capital market image and market
reputation72 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 73
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Value Chain Scope
No. Topics Timeframe Key Risks and Opportunities Upstream Operations Downstream
6 Green Short Risk: In a rapidly evolving technological √ √
Products Medium environment failure to update product
Long-term designs and production processes may
result in falling behind competitors and
losing market share
Opportunity: Effective product lifecycle
management enables rapid response
to market demands and technological
advancemen ts d r i v i ng p roduc t
innovation and diversification
7 Circular Medium Risk: Without proper management and √ √ √
Economy Long-term operational mechanisms for recycling
raw materials and waste product quality
may be compromised
Opportunity: Improved resource
efficiency can reduce raw material
procurement costs and waste disposal
expenses enhancing overall operational
efficiency
8 Clean Medium Risk: Rapid advancements in clean √ √
Technology Long-term technology may render the products
Opportunities less competitive if they fail to keep pace
Opportunity: Growing global demand
for green and clean technologies and
products presents opportunities to
expand market share and create new
revenue streams through innovation
9 Employee Medium Risk: In high-intensity production √ √
Health Long-term environments accidents and injuries
and Safety may occur if safety measures are not
effectively managed potentially leading
to employee injuries or even more
severe accidents
Opportunity: Strengthening occupational
health and safety management can
improve safety standards reduce
accidents and mitigate legal and financial
risks creating a safer work environment74 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 75
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Value Chain Scope
No. Topics Timeframe Key Risks and Opportunities Upstream Operations Downstream
10 Rights and Medium Risk: The departure of key employees √
Interests of Long-term may result in the loss of critical industry
Employees knowledge and skills impacting project
progress and execution efficiency
Opportunity: Standardized employment
policies and a positive work environment
can enhance talent retention supporting
sustainable operations and business
growth
11 Employee Medium R i s k : F a i l u r e t o p r o v i d e h i g h - √
Development Long-term quality training may lead to gaps in
and Training employees’ professional knowledge
and management capabilities affecting
product qua l i ty and manager ia l
effectiveness
Opportunity: High-quality training
fosters innovative thinking and problem-
solving skills enabling the Company
to adapt to market changes and
technological advancements thereby
enhancing competitive advantage
12 Product and Short Risk: Inadequate product quality √ √ √
Service Safety Medium and customer service may increase
and Quality Long-term after-sales and maintenance costs
including additional labor costs and
recall expenses potentially leading to
customer loss and revenue decline
Opportunity: Robust product quality
management systems and customer
relationship management systems can
enhance product competitiveness
improve customer satisfaction and
drive revenue growth through increased
loyalty74 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 75
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Value Chain Scope
No. Topics Timeframe Key Risks and Opportunities Upstream Operations Downstream
13 Information Medium Risk: Strengthening cybersecurity √ √
Security and Long-term infrastructure requires continuous
Privacy financial and resource investments
Protection including firewalls intrusion detection
s y s t e m s a n d d a t a e n c r y p t i o n
technologies to mitigate the risk of
cyberattacks
Opportunity: Effective information
security management can attract
privacy-conscious customers enhance
brand image increase market share
and drive sales growth
14 Sustainable Medium Risk: Ensuring supply chain stability √ √
Supply Chain Long-term and sus ta i nab i l i t y may requ i r e
Management diversifying suppliers and incurring
higher procurement costs to meet
environmental and social responsibility
s tandards potent ia l ly impact ing
profitability and competitive advantage
Opportunity: Building a sustainable
supply chain enhances the Company’s
ab i l i t y t o i den t i f y and manage
env i ronmenta l and soc ia l r i sks
improving operational resilience and
reducing potential business risks
15 R&D Innovation Short Risk: Market acceptance of new √ √ √
and Intellectual Medium technologies or products may fall short
Property Long-term of expectations affecting sales and
Protection reducing revenue and profitability
Opportunity: Success in technological
innovation can attract investor attention
and R&D achievements can create
financing opportunities and open new
business prospects76 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 77
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Value Chain Scope
No. Topics Timeframe Key Risks and Opportunities Upstream Operations Downstream
16 Community and Short Risk: If the Company’s performance √
Public Welfare Medium in public benefit activities or social
Long-term responsibility fails to meet public
expectations it may harm brand image
and reputation
O p p o r t u n i t y : I n v o l v e m e n t a n d
investment in targeted communities can
help the Company better understand
local market needs seize expansion
o p p o r t u n i t i e s a n d s t r e n g t h e n
competitive advantage
17 Corporate Medium Risk : Non -comp l i an t co rpo ra te √ √ √
Governance Long-term governance may lead to regulatory
investigations and fines impacting
financial health
Oppor tun i ty : S t rong co rpo ra te
governance can attract more investors
enhance risk management capabilities
and foster trust driving high-quality
development
18 Business Ethics Medium Risk: Violations of business ethics may √ √ √
Long-term result in legal disputes hefty fines and
increased financial burdens
Opportunity: Improving governance
structures and transparency can
strengthen internal controls and risk
management reducing the likelihood of
violations
19 Risk and Medium Risk: Failure to comply with relevant √ √ √
Compliance Long-term laws and regulations may lead to legal
Management disputes fines or sanctions damaging
the Company’s reputation and market
trust
Opportunity: Optimizing internal
processes and systems can improve
o p e r a t i o n a l e f f i c i e n c y r e d u c e
compliance risks and support long-term
business development while minimizing
compliance costs76 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 77
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
1.3 Materiality Analysis Conclusion
In 2024 through the double materiality analysis Hua Hong Semiconductor identified 19 material topics categorized
as follows: 7 topics with double materiality 2 topics with financial materiality only 9 topics with impact materiality only
and 1 topic with neither financial nor impact materiality. The specific categorization is as follows:
* Topics with double materiality: R&D innovation and intellectual property protection climate change mitigation and
adaptation water resources management energy management environmental management sustainable supply
chain management and employee health and safety;
* Topics with financial materiality only: Information security and privacy protection and business ethics;
* Topics with impact materiality only: Green products clean technology opportunities circular economy employee
development and training product and service safety and quality emissions and waste management risk and
compliance management rights and interests of employees and corporate governance;
* Topics with neither financial materiality nor impact materiality: Community and public welfare.Hua Hong Semiconductor 2024 Topics Materiality Matrix
Highest
R&D innovation and intellectual
Green products property protection
Clean technology
opportunities Climate change mitigation and adaptation
Circular
economy Water Product and service
Employee development resources safety and quality
and training utilization
Emissions and waste Energy management
Both Financial Materiality
management and Impact Materiality
Risk and Environmental Sustainable supply
compliance management chain management
Rights and interests !management
of employees Employee health and safety Financial Materiality but
Corporate No Impact Materiality
governance
Information security and
privacy protection
Business ethics Impact Materiality but
No Financial Materiality
Community and public welfare
Neither Financial
Materiality nor
Impact Materiality
Highest
Lowest Impact on the Company’s Finance
Impact on the Economy Environment and Society78 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 79
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORTNote: Among the 21 topics set in the SSE Guidelines the Company does not involve the topics of “ecosystem and biodiversityprotection” and “science and technology ethics”; “due diligence” and “stakeholder engagement” are processes for ESG topic
identification assessment and management and are responded to in the “Materiality Assessment” section not included in the
matrix as ESG topics. The remaining Guideline topics are addressed in the main body of the report or in the index table. For thespecific chapter mapping and explanation please refer to the “Benchmarking Index Table of Self-Regulatory Guidelines No.14for Companies Listed on Shanghai Stock Exchange—Sustainability Report（ For Trial Implementation)”. In addition the Companyhas independently identified the topics of “Green Products” “Clean Technology Opportunities” “Risk Compliance Management”
and “Corporate Governance” all of which are responded to in the main body of the report.
2. ESG Management System
2.1 ESG Management Structure
Based on the corporate vision of “Continuous Innovation and Empowering the Future for Global Customers” the
Company established a top-down environmental social and governance (ESG) management structure continues to
improve the ESG management system encourages innovation-driven development fosters innovative talents and
strives to reduce the impact of business operation on the environment. We also make efforts to diversify the supply
chain capabilities and promote the joint creation of corporate business and social values.The Board as the highest decision-making/management body for the Company’s ESG management is responsible for
the following aspects:
* to direct the formulation of ESG management policies and strategies of the Company and ensure that they are up
to date relevant and in compliance with applicable legal and regulatory requirements;
* to direct the identification and determination of the importance of significant ESG topics of the Company;
* to supervise the setting and implementation of the Company’s ESG goals including: setting ESG management
performance goals of the Company; monitoring progress in achieving the goals; and advising on actions required
to achieve the goals;
* to review and approve the Company’s annual Environmental Social and Governance Report and other ESG
related disclosures.The management level is responsible for overseeing the overall implementation of the ESG objectives set forth by the
Company. The ESG Working Group is tasked with identifying the impacts risks and opportunities associated with ESG
topics developing ESG strategies and management policies and assisting relevant departments in implementing ESG
management practices. It also regularly reports to the management team and the Board on the progress of key ESG
performance indicators thereby advancing the achievement of the Company’s ESG management objectives.78 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 79
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
ESG Management Structure
Decision-making Level
Board of Directors
Management
Implementation Level
ESG Working Group
Comprehensive Compliance Internal Audit Purchase EHS QA
Management Department Department Department Department Department
Planning Human Finance Marketing Labor Union
Department Resources Department Department80 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 81
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
2.2 ESG Management Strategies and Targets
The Company has integrated ESG management into its products business operations and corporate development
and formed a complete ESG management strategy covering the four aspects of “Responsibility for Employees”
“Responsibility for the Industry” “Responsibility for People’s Livelihood” and “Responsibility for Investors”.ESG Management Strategies
Responsibility Responsibility
“Heart Felt” Value for Employees for Employees for the Industry Empowering the Future for
Global Customers
Respect for the Value
of Employees Providing Quality Products
Caring about the Growth Guaranteeing Rights & Interests
of Employees of Customers
Protecting Occupational Health Growing the Industrial Economy
Continuous
Innovation
Empowering the
Future for Global
Customers
“Prosperous” Environment “New” Profits for Shareholders
for Society
Development through Innovation
Promoting Green Development
Consolidate Operations with
Utilizing Resources Efficiently Integrity
Jointly Promoting Social Harmony Responsibility for Responsibility Sharing the Benefits of
’ ’People s Livelihood for Investors China s Growth80 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 81
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
The Company has set ESG management targets for water use efficiency energy use efficiency GHG emission
reduction pollutant reduction waste reduction and conflict mineral due diligence based on the development of its
business and its ESG performance in operations. On an annual basis the management and the Board review the ESG
performance and achievement of the Company’s ESG goals for the previous year and disclose the results in the ESG
report so as to promote the achievement of ESG management targets.Aspect Target Progress in 2024
Water resources The water consumed per unit product1 The water consumed per unit product was 2.76
management (m3 per 8-inch wafer) in 2030 will m3 per 8-inch wafer decreasing by 2.49% as
decrease by 5% as compared with 2023 compared with 2023
Energy Comprehensive energy consumption per Comprehensive energy consumption per unit
consumption unit product (MWh per 8-inch wafer) in product was 0.27 MWh per 8-inch wafer decreasing
management 2030 will decrease by 10% as compared by 9.08% as compared with 2023
with 2023
GHG emissions GHG emissions per unit product (tCO2e GHG emissions per unit product in 2024 was 0.12
management per 8-inch wafer) in 2030 will decrease tCO2e per 8-inch wafer decreasing by 9.53% as
by 10% as compared with 2023 compared with (0.14) in 2023
Waste discharge The waste produced per unit product (kg The waste produced per unit product was 8.29 kg
management per 8-inch wafer) in 2030 will decrease per 8-inch wafer increasing by 8.41% as compared
by 4% as compared with 2023 with 2023
Wastewater COD discharge concent ra t ion in Shanghai Production Base: The average COD
discharge wastewater will be 30% lower than the discharge concentration was 65.70 mg/L which is
management emission standard 30% lower than the emission standard of 500 mg/L
Wuxi Production Base: The average COD discharge
concentration was 29.90 mg/L which is 30% lower
than the emission standard of 50 mg/L
Air emission VOCs discharge concentration in air Shanghai Production Base: The average VOCs
discharge emissions will be 30% lower than the discharge concentration was 5.35 mg/m3 which is
management emission standard 30% lower than the emission standard of 50 mg/m3
Wuxi Production Base: The average VOCs
discharge concentration was 0.33 mg/m3 which is
30% lower than the emission standard of 100 mg/m3
Sustainable The due diligence rate on suppliers of Have conducted due diligence on suppliers of
supply conflict minerals will reach 100% and “conflict minerals” with a coverage rate of 100%
chain the utilization rate of compliant minerals and completed the latest version of the investigation
management will reach 100% report on conflict minerals and extended minerals
All suppliers are found to use compliant raw
materials with the utilization rate of compliant
minerals up to 100%
1 Water consumed per unit product = water consumption from municipal water supply / annual production excluding recycled
water and other water sources.82 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 83
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Honors and Recognitions Received by Hua Hong Semiconductor in 2024
No. Honors
Global
1 Responsible Business Alliance Platinum Award
National
2 Second Prize in State Science and Technology Improvement Award
3 National Worker Pioneer
4 National Model Unit for Professional Ethics Construction
Shanghai
5 Shanghai Quality and Technology Progress Award – Excellence Award
6 The 35th Shanghai Outstanding Invention Gold Award
7 Shanghai Green Manufacturing Demonstration List in 2024 (Second Batch) - Green Factory
8 Excellent Workstation of Academician in Shanghai
9 Shanghai Worker Pioneer
10 First Prize for Outstanding Collective in Shanghai Employee Labor and Skill Competition
11 Second Prize in Shanghai Employee Outstanding Innovation Achievement Award
12 Outstanding Achievement Award for Advanced Operational Methods of Shanghai Municipal Employees
13 Shanghai Employee Rationalization Proposal Innovation Award
Jiangsu
14 Wuxi Model Unit for Happy Enterprise Construction
15 Wuxi City Model Worker’s Home
3. Energy Conservation and Emission Reduction to Address Climate Change
3.1 Climate Change Mitigation and Adaptation
In the operational process of Hua Hong Semiconductor the direct sources of GHG emissions are the burning of
natural gas gasoline diesel and the fugitive emissions of the production process and the indirect sources of GHG
emissions are purchased heat and electricity. With reference to the International Sustainability Standards Board (ISSB)’s
Sustainability Disclosure Standards of IFRS 2 – Climate-Related Disclosures (“IFRS S2”) the Company has established
a top-down climate governance framework and formulated development strategies to cope with climate change so as
to enhance its adaptability to climate change and gradually minimize the impact of its operations on the environment.Hua Hong Semiconductor’s Climate Change Management System
Governance * The Board regularly reviews climate-related risks and opportunities as well as climate
change response strategies and management targets and regularly monitors progress
towards the achievement of those targets.* The ESG Working Group takes responsibility for formulating climate change response
strategies and management targets. According to the external regulatory requirements and
market demands the ESG Working Group makes timely adjustments to the timeliness of
management policies supervises the implementation of related initiatives at each plant and
regularly reports the work progress to the Board.* Each plant is responsible for executing specific tasks such as verifying GHG emissions
reducing GHG emissions through practical actions regularly collecting and summarizing
GHG emission data and performing self-assessments on the achievement of targets.82 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 83
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Strategy * Identifying climate change risks including transition risks and physical risks and conducting
scenario analysis to evaluate the financial impacts of climate change risks.a) Transition risks: Actively responding to a series of measures under the emission control
policies to continuously reduce GHG emissions through various initiatives such as lean
production green procurement improvement of production processes and replacement
of non-essential energy-intensive equipment details of which are available in the section
headed “Energy Management”.b) Market opportunities: Capitalizing on the growth opportunities of product application in
wind and solar power generation white goods and automotive electronics industries
details of which are available in the section headed “Clean Technology Opportunities”.c) Product opportunities: Developing low-power green products and utilizing our process
advantages to reduce the ESG emissions at the consumer end. Reducing the carbon
footprint of products through whole life-cycle management details of which are
available in the section headed “Green Products”.* Making clean technology innovation as one of our core strategies and incorporating climate
change strategies into our business development frameworks such as resource use
efficiency energy sources products and service opportunities.Impacts Risks * Integrating the management of climate-related risks and opportunities into the environmental
and Opportunities risk management system and formulating response strategies and implementing
Management management measures for significant climate-related risks and opportunities.* Conducting ISO14064-1 GHG emission verification and certification to systematically identify
the GHG emission sources and verify the GHG emissions.Metrics and * Publicly disclosing the GHG emission data annually through the ESG reports and reporting
Targets the management targets along with their achievement status.* Management target of GHG emissions: GHG emissions per unit product (tCO2e per 8-inch
wafer) in 2030 will decrease by 10% as compared with 2023.* Achievement status: GHG emissions per unit product in 2024 was 0.12 tCO2e per 8-inch
wafer decreasing by 9.53% as compared with 2023.The Company regularly identifies climate-related risks and opportunities assesses their impacts on its business
development and business model and analyzes the potential financial impacts so as to better adjust its strategies
and management approach and continuously improve its response to climate change.84 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 85
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Potential Financial Impacts on and Response Measures Taken by Hua Hong
Semiconductor Towards Climate-related Risks and Opportunities
Risks and Opportunities of Climate- Potential Financial
related as Identified Impacts Response Measures
Risks Transition Reputation Risks – Publicly disclosing the GHG emissions
Risks Transitioning to a low-carbon economy and reporting the target progress
various stakeholders expect companies to of GHG emissions per unit product
take active actions in response to climate annually.change and to enhance the transparency
Decreased Revenue
of information disclosure. As a result any – Disclosing climate change mitigation
company that fails to respond effectively to and adaptation efforts in accordance
these propositions from the stakeholders with IFRS S2 and reporting the progress
would be exposed to negative impacts on to stakeholders.its own reputation.Policy and Legal Risks – Conduc t i ng ca rbon accoun t i ng
The PRC has set a “Dual Carbon” target work annually and completing the
and regulatory scrutiny on corporate compliance and achievement of carbon
carbon emissions will continue to intensify emission quota limits required by
in the future. Companies whose carbon relevant ministries and commissions in
emissions do not meet the regulatory a timely manner.requirements shall purchase carbon
Increased Operating
emission allowances or China Certified – The Company ’ s annua l ca rbon
Costs
Emission Reductions (CCERs) which will emissions do not exceed the carbon
incur additional operating costs; companies quota limits therefore no additional
that fail to achieve their carbon emission costs are incurred.quota in full and on time may be subject
to penalties such as rectification within
prescribed period by relevant government
departments.Market Risks – Reducing GHG emissions through
Customers and consumers are increasingly various measures such as upgrading
concerned about the sustainability of process technologies and enhancing
products and are demanding higher production equipment performance.standards for carbon footprint and energy For example use of NF3 with high
consumption. If the Company fails to cleaning efficiency instead of C2F6 helps
meet the market demands for its products to reduce use of fluorocarbons thus
Decreased Revenue
and services in a timely and effective reducing GHG emissions annually.manner the Company will lose its market
advantage. – Developing products with lower power
consumption and higher efficiency to
help downstream industries improve
energy efficiency and reduce GHG
emissions across the value chain.84 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 85
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Risks and Opportunities of Climate- Potential Financial
related as Identified Impacts Response Measures
Physical Risks Acute Physical Risks – Formulating emergency response plans
The Company operates in coastal regions for extreme weather events.such as Shanghai and Wuxi and may
Reduced Value of
be exposed to climate-related disasters – Regularly conducting emergency
Fixed Assets
such as typhoons and rainstorms which drills and training for natural disaster
may damage fixed assets including incidents.infrastructure resulting in economic losses.Chronic Physical Risks
Persistent high-temperature weather
caused by climate change may disrupt the Decreased Revenue
Company’s business operations resulting
in lower business revenue.Opportunities Resource Use Efficiency – The 12-inch production line in Fab 7
Resource use efficiency shall be improved (Wuxi) was awarded Leadership in. including the efficiency of energy and water Decreased Energy and Environmental Design
resources which can help the Company Operating Costs (“LEED”) Gold certification from the
reduce operating costs during operations. United States Green Building Council
(“USGBC”).Energy Sources – Developing a rooftop photovoltaic
A higher utilization rate of clean energy construction plan to use renewable
in production activities can help reduce Decreased energy instead of non-renewable energy
reliance on fossil energy and in the long Operating Costs and increase the proportion of green
term reduce the cost of purchasing electricity.municipal electricity.Products and Services – The Company possesses non-volatile
The Company’s products are widely memory (eNVM) high-performance
used in energy solutions for household microcontroller (MCU) and single-
appliances and across all stages of the chip integration (BCD) processes
photovoltaic and energy storage industries Increased Revenue and has accumulated rich technology
from electricity generation to consumption. and experience in the new energy
The growing demand for chips in these power generation industry and the
sectors is driving a continuous increase in manufacturing processes in the field of
the Company’s business revenue home appliance applications.During the Reporting Period the Company completed the self-inspection report on the evaluation of dual-control
responsibility for carbon emissions in accordance with the Notice on Conducting 2023 Pilot Evaluation of Dual-Control
Responsibility for Carbon Emissions in Key Energy-Consuming Enterprises in the Industrial and Communication
Industry 《( 關於開展 2023 年度工業和通信業重點用能單位碳排放雙控責任評價考核工作(試點)的通知》) issued by
Shanghai Municipal Economic and Information Technology Commission. By implementing measures to reduce the
GHG emissions from the Company’s production and operation at both the management and equipment levels the
Company is progressively advancing toward its green and low-carbon transition objectives.86 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 87
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
The Company’s Shanghai Production Base (Fab 1 Fab 2 and Fab 3) is a carbon emission quota management unit
in Shanghai. The Shanghai Production Base conducts third-party verification of the GHG emission reports every year
and completes the total data control plan for the next year at the end of each year. During the Reporting Period the
Company completed the compliance and settlement work on schedule with a total payment quota of 251024 tons.
3.2 Energy Management
Hua Hong Semiconductor is committed to building a green enterprise integrating green technology green production
and green building to realize environment-friendly operation and sustainable development. The Company’s energy
sources include electricity heat natural gas gasoline and diesel of which electricity heat and natural gas are
sourced from municipal supplies with no significant impact on the surrounding environment and natural resources.Governance
The Company has formulated various administrative systems including the Resource and Energy Management
Procedure and the Management Regulations for Water Electricity Steam and Gas Metering in compliance with the
Energy Law of the People’s Republic of China and the Energy Conservation Law of the People’s Republic of China.During the Reporting Period the Company improved its energy management system in accordance with ISO 50001
and sorted out and updated its energy management system to further standardize its energy management work.The Company has established a three-tier energy management structure comprising the Board the Management and
the ESG Working Group. The Board is responsible for reviewing the energy management strategy and overseeing
the achievement of targets. The Management is responsible for formulating the energy management strategy and
targets facilitating implementation of relevant work in each production base and department overseeing achievement
of targets and reporting to the Board. The ESG Working Group leads the EHS power and production departments in
each production base to formulate specific action plans to implement and realize the management strategy.Strategy
The Company positions energy conservation as an important strategic development direction. On the one hand the
Company has reduced total energy consumption through energy-saving technological transformation and actively
complied with the energy consumption assessment requirements of the governmental or regulatory authorities to
reduce the policy risks. On the other hand the Company has strategically deployed photovoltaic power generation
facilities to safeguard against operational risks caused by interruption of the municipal energy supply thereby avoiding
additional operating costs resulting from energy shortages and price fluctuations.The Company actively integrates the concepts of clean production and low-carbon energy into its production and
operation processes and turns energy conservation achievements into product and service opportunities to create
green products with low environmental impacts. Through eco-design residual heat recovery and energy-saving
renovation the Company is building green factories. In December 2024 Fab 1 was awarded the Shanghai Green
Manufacturing Demonstration List in 2024 (Second Batch) - Green Factory.Impacts Risks and Opportunities Management
To address operational risks arising from energy supply interruptions the Company has developed various operational
protocols such as the Emergency Plan for Emergency Unloading the Emergency Plan for Emergency Power Cut
the On-site Treatment Plan of the Power Department for Power Cut and the Emergency Plan for Power Circuit Breaker
Tripping. Emergency response training and emergency drills were carried out to improve the ability of its employees to
manage various emergency power cut scenarios.86 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 87
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
In response to increasingly stringent local government regulations on energy consumption the Company has
formulated internal management targets that are higher than the regulatory requirements to mitigate the impacts of
policy risks. Aligned with the “Hundred One” Energy Conservation and Carbon Reduction Initiative in the ShanghaiIndustrial and Communication Industry (2022-2025) the Company rigorously implemented the “energy conservationproject plan of 3000 tons of standard coal”. By 2024 all 15 energy-saving renovation projects identified in the 14th
Five-Year Plan energy audit work were fully completed achieving an energy reduction of 3339 tons of standard coal.Metrics and Targets
The Company has set an overall energy management target which is divided up and allocated to each production
base for implementation. The Company monitors energy consumption of each production process on a daily basis and
regularly reviews the progress towards achieving the target.Hua Hong Semiconductor’s Energy Management Metrics and Targets in 2024
Progress Towards
2023 2024 the Completion of
Metric Unit Performance Performance 2030 Target the 2024 Target
Comprehensive MWh per 8- 0.30 0.28 Decreasing by 10% Decreasing by 5.91% as
energy consumption inch wafer as compared with compared with 2023 – in
per unit product 2023 progress of completing
the target
Honor and Award * Awarded Shanghai Green Manufacturing Demonstration List in 2024 – Green Factory
In order to effectively enhance energy efficiency management of equipment the Company conducted energy
consumption statistics on major energy-consuming equipment and formulated a work plan for energy efficiency
upgrading and equipment renovation in accordance with the Notice on Conducting Energy Efficiency Benchmarking
and Renovation on Major Energy-Consuming Equipment of Enterprises in the Industrial and Communication Industry
《( 關於開展工業和通信業企業重點用能設備能效對標及更新改造的通知》) issued by the Shanghai Municipal Economic
and Information Technology Commission.Hua Hong Semiconductor’s Energy Saving Initiatives and Achievements in 2024
Entity Specific Measures Achievements
Shanghai Variable frequency renovation on the RO * Annual energy reduction of 28.23
Production Base high-pressure pumps in the pure water tons of standard coal
system
Reducing process steps by 3% and * Annual electricity saving of 960000
manufacturing cycle by 4% in the eFlash kWh
platform
Building an intelligent energy management * Annual electricity saving of 3.2
platform million kWh
Creating high-efficiency cooling rooms
Completing heat recovery renovation on * Annual natural gas reduction of
chilled water in the refrigeration unit 188000 m388 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 89
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
During the Reporting Period the Company’s primary energy consumption was as follows:
Total electricity consumption Electricity consumption intensity
Unit: MWh Unit: kWh per 8-inch wafer
1104828.92
1030352.33
262.19
954667.00
248.00242.86
228.00
867682.00
20212022202320242021202220232024
Total natural gas consumption Natural gas consumption intensity
Unit: m
3 Unit: m3 per 8-inch wafer
11630543.00
11456569.004.49
11048312.003.27
2.81
2.56
10530287.00
20212022202320242021202220232024
Note: The production expansion project of the Wuxi Production Base was put into operation in 2023 and the production capacity
was expanded in 2024. The total consumption of electricity and natural gas has increased however the energy consumption
intensity indicators have all decreased in 2024.88 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 89
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
3.3 Clean Technology Opportunities
Hua Hong Semiconductor actively responds to the “dual-carbon” economy call and solidly promotes its “8-inch+ 12-inch” strategy and its advanced “Specialty IC + Power Discrete” dual-pronged strategy to fully support
the ecosystem construction across the whole industrial supply chain. Through continuous R&D and innovation
and expansion of specialty process advantages Hua Hong Semiconductor focuses on the intelligent terminal
communication Internet of Things automotive electronics and other fields. Its business not only covers high-end
consumer products from IPM modules to peripheral control and power management but also covers the power
industry supply chain from power generation to power consumption as well as the five major chip systems in the field
of automotive electronics.The Company focuses on clean technology innovation as one of its core strategies and continues to promote
development of new ecosystems and novel applications such as embedded non-volatile memory power management
technology power discrete technology and flash memory technology. This helps its customers to further expand their
strategic positioning in new energy sectors including automotive electronics premium home appliances photovoltaic
systems and wind energy storage and capitalize on market opportunities driven by clean technologies thus actively
contributing to future development of their business.Products Supporting Clean Technology Development
Power Discrete Non-Volatile Memory
Power components is an important equipment Non-volatile memory is widely used in chip
component for new energy generation and new applications such as microprocessors (MCUs) and
energy applications such as photovoltaic and wind application-specific integrated circuits (ASICs)
power generation equipment electric vehicles while these types of chips are widely used in new
electric two-wheeled vehicles the need to use a energy generation equipment.large number of insulated gate bipolar transistor
(IGBT) metal – oxide semiconductor field effect
transistor (MOSFET) and other devices.The Company has accumulated a large number According to IC Insights the automotive market
of customers in this field and maintained a good accounts for more than 30% of the global MCU
relationship and deep co-development cooperation consumption market. All Hua Hong Semiconductor
with the head enterprises in the field for a long manufacturing plants have passed IATF 16949
time. So far the scale of power discrete revenue automotive industry quality system certification
has become the largest part of the Company’s making important contributions to supporting local
share. manufacturing of automotive semiconductors.90 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 91
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
New energy components and application fields involved
Percentage
Product Application Field of Revenue
Power discrete Photovoltaic and wind power generation equipment electric vehicles 31.0%
electric two-wheeled vehicles etc.Embedded Non-Volatile New energy power generation equipment electric vehicles etc. 26.3%
Memory
Assist the development progress of new energy transformation technology
Automotive Electronics Industrial New Energy High-end Consumer Electronics
* Through supply chain collaboration * The key products of power * Cooperate with domestic
it helps customers accelerate their discrete have achieved mass well-known household
products into relevant module supply and significantly appliance brand companies to
factories and complete machine increased market share. In improve domestic production
enterprises. the future with the layout replacement rate and
and strong support of the continuously promote the
* Establish direct cooperative state for the double-carbon expansion of high-end consumer
relationship with domestic economy the future growth of electronics business.mainstream automobile the new energy market can be
enterprises from mature chip expected. * Famous domestic household
replacement to joint efforts to appliance brand companies
tackle key and difficult projects have adopted IGBTs display
and jointly build sustainable touch control chips fingerprint
development ecosystem lock chips and motor control
and other multi-dimensional products produced by the
cooperation. Recommended Company’s technology platform
mature chip types cover various and have gradually penetrated
fields such as automotive into the air-conditioner
powertrain body control cockpit refrigerator and other major
chassis and safety remote control appliance markets.and communication ADAS
charging piles etc. to achieve
mass supply.* A company-level automotive
electronic database has been
established and continuously
improved.The Company will further promote the development of silicon-based power discrete capable of achieving higher
energy efficiency and initiate the development of compound semiconductor power discrete with high power density
and low energy consumption so as to provide continuously optimized solutions for products in clean energy
application fields such as inverter appliances and new energy vehicles and further improve energy efficiency.90 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 91
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
4. Lean Production Pioneering a Green Future
4.1 Environmental Management
Hua Hong Semiconductor’s production and manufacturing fabs include the Shanghai Production Base and the Wuxi
Production Base. Among them Fab 1 Fab 2 Fab 3 and Fab 7 are key units monitored for water environment and
environmental risks while Fab 3 and Fab 7 are key units monitored for atmospheric environment. The Company
discloses environmental information annually in compliance with legal requirements.The Company strictly adheres to the Environmental Protection Law of the People’s Republic of China and the relevant
environmental regulations of local governments and has established internal policies such as the Standard Operating
Procedures for Industrial Water Supply System Internal Control Standards for Pollutants and Operating Norms for
Industrial Waste Management.Governance
The ESG Working Group is responsible for formulating environmental management strategies and objectives
promptly tracking regulatory requirements from local governments and industry standards identifying environmental
management risks within the Company overseeing environmental compliance in the daily operations of each fab and
reporting on key matters to the management team.The EHS Department is responsible for coordinating establishment of the Company’s environmental management
system including formulation of management regulations performance analysis and evaluation with respect to
energy and resource use emissions management etc. It also assists external agencies in the audit and testing of the
Company’s environmental management system.Strategies
In terms of wastewater and air emission management the Company prioritizes continuous improvement in
environmental governance with up-to-standard discharge as a key operational objective to avoid operational risks
caused by non-compliant discharge. The Company is located near office buildings and residential areas where a
significant number of people gather so the Company ensures the normal operation of exhaust gas treatment facilities
avoids the spread of harmful substances to the surrounding environment and creates potential exposure risks to the
respiratory system and ecosystem of community residents.The Company identifies risks throughout the lifecycle of pollutants from generation and collection to treatment and
discharge. Through regular monitoring and inspections it ensures the proper operation of environmental protection
facilities and compliance with air emission and wastewater treatment standards. Annually the Company allocates a
budget for environmental management and implements environmental protection and technical transformation projects
such as upgrading photoresist equipment and wastewater recycling systems. These initiatives aim to reduce raw
material usage extend the lifespan of chemicals and minimize wastewater and air emissions thereby mitigating the
environmental impact of operations and production.The Company emphasizes the capability of its staff to handle environmental emergencies aiming to prevent
environmental risk incidents such as chemical leaks fires or direct pollutant discharges due to mismanagement. The
Company regularly updates the emergency response plans and alternatives for environmental incidents at all fabs
formulates an annual emergency drill schedule each year and conducts emergency drills for potential environmental
incidents. Fab 1 conducted on-site response drills for unexpected shutdowns of exhaust treatment systems Fab 2
conducted on-site response drills for waste liquid leaks Fab 3 conducted drills for SiF4 cylinder leaks and Fab 7
conducted drills for chemical spills.Additionally the Company has established a green office strategy to strengthen employees’ environmental awareness
through cultural initiatives daily behaviour guidelines new employee orientation and advocacy. This approach
promotes the implementation of green office practices.92 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 93
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Hua Hong Semiconductor’s Practice in Green Culture
Saving paper * Implementing office informatization to reduce paper consumption.around the office * Making efforts to promote the use of recycled paper including for printing
business cards of employees to support recycling.Saving electricity * Regularly holding environmental management sharing sessions to strengthen
employees’ awareness of economical use of office resources and energy.* Turning off the power supplies when leaving work or a long absence.* Reasonably setting air conditioning temperature above 26℃ in summer and below
20℃ in winter.
Saving water * Developing employees’ awareness of saving water and posting water saving
signs.Waste disposal * Classifying domestic waste and implementing waste classification and disposal
procedures in accordance with the requirements at the place of operation.* Actively promoting waste classification initiatives to enhance employees’
environmental awareness.Commuting * Encouraging employees to commute by public transport.* Using new energy vehicles as shuttle buses for the Company.Impacts Risks and Opportunities Management
The pollutant discharge standards in the region and industry the Company operates in are continuously updated. To
proactively mitigate policy risks the Company has adopted internal pollutant discharge standards that are stricter than
the regulatory requirements. In 2024 the local government of Shanghai updated the Discharge Standards of Pollutants
for the Semiconductor Industry. In response the Company’s four fabs each established Internal Control Standards for
Pollutants to prepare for increasingly stringent environmental regulatory requirements.The Company regularly identifies and assesses environmental risk topics at its production sites and refines its
environmental management system. All four fabs have obtained ISO14001: 2015 certification. During the Reporting
Period no violation against environmental laws and regulations occurred. During the Reporting Period the Company
fully paid relevant taxes with respect to environmental protection.Environmental Management System Certification Status of Hua Hong Semiconductor
Entity Certification Name Validity of Certification
Shanghai Production Base ISO 14001: 2015 Environmental 18 April 2027
Management System
Wuxi Production Base ISO 14001: 2015 Environmental 18 April 2027
Management System
The Company uses its safety management auditing and tracking system to analyze sort out and list the
nonconforming items against environmental protection regulations found in daily management with follow up and
record keeping of subsequent rectifications through the regular reminder function of the system.Metrics and Targets
The Company has set overall targets for environmental management with the EHS department leading regular
monitoring and evaluation to assess progress toward these targets and the actual effectiveness of control measures.In 2024 the Company invested RMB112.56 million in safety environmental protection and technical transformation
projects as part of our continuing commitment to improving environmental management facilities.92 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 93
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
2024 Environmental Management Metrics and Targets of Hua Hong Semiconductor
Metric Unit 2024 Performance 2024 Target
Number of environmental violations Cases 0 0
Percentage of production base certified with ISO % 100 100
14001
Total environmental expenditure RMB 95057129 –
4.2 Water Resources Management
Water used by the Company comes to a large extent from the municipal water supply in addition to a smaller amount
of recycled water and air conditioning condensate from the pure water manufacturing process. In strict accordance
with laws rules and other relevant regulations including the Water Law of the People’s Republic of China the
Shanghai Administrative Measures for Water Conservation and the Jiangsu Water Conservation Ordinance the
Company has established management policies including the Standard Operating Procedures for Industrial Water
Supply System and the Tap Water Anomaly Handling Procedure to monitor the supply and quality of water resources
in its operational areas. The Company implements water-saving technical transformation recycles production
wastewater and organizes water conservation awareness activities to reduce water waste both in mindset and
practice.Overview of Water Used for Production and Operation of Hua Hong Semiconductor in 2024
148.4705 million m3
Water from municipal 12.5602 million m3 Water used for
Recycling and reuse
water supply production and domestic activities 148.4705 million m3
12.5602 million m3 161.0306 million m3
8.7350 million m3
Treated wastewater
9.6990 million m3
Reused and
recycled wastewater Municipal pipeline
8.7350 million m3 0.9640 million m
394 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 95
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
GovernanceThe Company has implemented a three-tier water conservation management system comprising the “Fab Manager– Water Conservation Leadership Group – Water Conservation Management Team.” Led by the fab manager the
water conservation leadership group establishes water resource management objectives for the fabs develops water
usage regulations and ensures that all departments adopt effective measures to achieve these objectives and comply
with the policies. Additionally each fab has established a water conservation management team which designs
water-saving initiatives tailored to production processes and operational workflows oversees daily operations monitors
water consumption and collects and reports data on water consumption.Strategy
Semiconductor manufacturing requires water purity of high standards and consumes substantial amounts of water
resources during production. As a water-intensive enterprise the Company utilizes water across various production
stages some of which involving the use of pure water.Recognizing the critical importance of a stable supply of water and pure water for on-going production the Company
has enhanced water use efficiency and increased investments and initiatives in water recycling. These measures aim
to mitigate potential challenges such as water outage and unstable water quality arising from increased water costs
and water scarcity thereby ensuring stable production and maintaining high product yield.To mitigate operational risks related to water resources the Company regularly identifies and monitors water-related
risks in its operations evaluates the likelihood and impact of physical and policy risks and develops corresponding
management policies and response strategies.Impacts Risks and Opportunities Management
Through energy conservation and emission reduction initiatives the Company continuously enhances the efficiency of
water recycling reduces its dependence on externally sourced ultrapure water and municipal water and generates
ultrapure water using RO reverse osmosis membranes. Furthermore the Company actively explores water-saving
opportunities and recycles water resources across various production stages.The Company constantly monitors the risk of water resources in areas where we operate through the “Aqueduct WaterRisk Atlas” an external tool from the World Resources Institute (WRI). We analyze the rationality of water consumption
for production and the operation of our fabs along with the possible impact of the water intake and implements
measures to mitigate water-related risks.WRI Risk Monitoring Results and Countermeasures of Hua Hong Semiconductor
Water risk monitoring * Water quantity risks: Water stress groundwater level decline
indicators interannual variability seasonal variability drought river flood
risks.* Water quality risks: Coastal eutrophication risk exposure to
untreated wastewater.* Legal regulatory and reputational risks: Regulatory and
reputational risks lack of access to drinking water sanitation
risks ESG reputational risks.94 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 95
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Monitoring results Water quantity * Overall water quantity risk: Very high
of Shanghai Fab and risks * Water stress: Very high
Wuxi Fab * River flood risk: High
* Drought risk: Medium to high
* Groundwater level decline risk annual and seasonal variability:
Low to medium
* Coastal flood risk: Low
Water quality * Overall water quality risk: Medium to high
risks * Exposure to untreated wastewater: High
* Sanitation risks: High
* Coastal eutrophication risk: Low to medium
Legal regulatory * Overall legal regulatory and reputational risks: Medium to
and reputational high
risks * Regulatory and reputational risks: Medium to high
* Lack of access to drinking water: Low to medium
* ESG reputational risks: Low to medium
Countermeasures * Relying on water monitoring sites for each fab the Company has
conducted water balance tests on a regular basis to calculate
the process water recycled water wastewater and domestic
water use of each fab.* The Company records the flow volume and recycling of water
resources so as to analyze whether there is any abnormal
utilization of water resources and predict the reasonable
allocation of water resources among water-consuming units.* Upgrade or replace equipment with high water consumption
and enhance water consumption efficiency.* Expand the sources of water resources by reusing up-to-
standard treated production wastewater and recycling by-
products such as concentrated water from pure water
production and air conditioning condensate.Metrics and Targets
The Company has set overall water resource management targets which are allocated to each production base for
execution. Water usage across all production processes is monitored daily and progress toward achieving the targets
is reviewed periodically.96 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 97
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
2024 Water Resource Management Metrics and Targets of Hua Hong Semiconductor
Progress towards
2023 2024 the Completion
Metric Unit Performance Performance 2030 Target of the 2024 Target
Water consumption m3 per 8-inch 2.83 2.76 Decreasing by 5% Decreasing by 2.49% as
per unit product wafer as compared with compared with 2023 – In
2023 progress of completing the
target
Honor * Awarded the title of Advanced Energy-Conservation and Emission-Reduction Enterprise in
and Award Xinwu District Wuxi.The Company improves water use efficiency through three measures including water conservation recycling
production wastewater for processes with lower water quality requirements and reusing treated production
wastewater. Water-saving measures have been implemented in critical water usage areas and integrated wastewater
recycling and treatment systems have been established to classify filter and reuse production wastewater.
2024 Water-Saving Measures and Achievements of Hua Hong Semiconductor
Entity Action Measures Annual Water-Saving Results
Shanghai Wastewater reuse Concentrate and recycle reverse A total of 250000 tons of water
Production Base osmosis concentrate; treat and reuse was saved during the year
equipment rinse water instrument
water and condensate.Wuxi Production Wastewater reuse Concentrate and recycle reverse A total of 420000 tons of water
Base osmosis concentrate; treat and reuse was saved during the year
equipment rinse water instrument
water and condensate.Wastewater Upgrade backwash wastewater A total of 2500 tons of water was
recycling system recycling system to increase the saved during the year
upgrade usage of recycled water.
4.3 Emissions and Waste Management
Air Emission Management
Air pollutants generated during the production process of the Company include sulfuric acid mist (H2SO4) hydrogen
chloride (HCl) nitric oxide (NOx) ammonia (NH3) and volatile organic compounds (VOCs).Hua Hong Semiconductor strictly adheres to the Law of the People’s Republic of China on the Prevention and Control
of Atmospheric Pollution the Discharge Standards of Pollutants for the Semiconductor Industry set by the relevant
industry association of Shanghai and other applicable laws regulations and requirements. During the Reporting
Period each of the four fabs developed its own Internal Control Standards for Pollutants adopting stricter internal
discharge control measures that exceed regulatory requirements.96 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 97
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Types and Treatment Methods of Air Pollutant of Hua Hong Semiconductor
Type Treatment Method
Air emission Acid air emission Up-to-standard discharge after removing most of the
components through pretreatment and centralized treatment of
the washing tower.Alkaline air emission (mainly Purification through a washing tower.ammonia gas)
Organic air emission Purification through activated carbon adsorption or combustion
after concentration.Air Emissions containing dust Removal through a dust-extraction unit.(mainly small particulates of
silicon dioxide)
The Company formulates an annual testing plan deploys online monitoring facilities and performs regular maintenance
of air emission treatment systems to ensure effective treatment efficiency and compliance with air emission discharge
standards. The Company proactively addresses regulatory requirements by gradually promoting the use of low-VOCs
cleaning agents thereby reducing untreated air emissions of volatile organic compounds during cleaning processes.In 2024 the Company’s air emission testing results confirmed that all air emissions met discharge standards.
2024 Air Emission Management Metrics and Targets of Hua Hong Semiconductor
Progress towards the
2024 Completion of the 2024
Metric Unit Production Base Performance 2024 Target Target
Annual average VOCs mg/m3 Shanghai Production 5.35 Better than the emission Emission concentration is
discharge concentration Base standard (50) by more more than 30% better than
than 30% that is <35 the emission standard
achieving target
Wuxi Production Base 0.33 Better than the emission
standard (100) by more
than 30% that is <70
2024 Air Pollutant Reduction Measures and Achievements of Hua Hong Semiconductor
Entity Specific Measures Results
Shanghai Production Extended the chemical lifespan of SPM tanks Reduced annual sulfuric acid usage by
Base (H2SO4+H2O2) through research 57 tons
Wuxi Production Base Reduced SPM usage at cleaning stations Reduced annual sulfuric acid mist
emissions by 0.66 tons
Upgraded boilers with low-carbon burners Reduced annual nitric oxide emissions
by 0.94 tons98 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 99
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Wastewater Discharge Management
The Company strictly complies with the Law of the People’s Republic of China on the Prevention and Control of
Water Pollution and the Integrated Wastewater Discharge Standard. The Shanghai Production Base complies with
the Discharge Standard of Water Pollutants for the Electronic Industry while the Wuxi Production Base follows the
Jiangsu Discharge Standards for the Semiconductor Industry. The Company has formulated internal management
systems such as the Operation Manual for Wastewater and Drainage Discharge and the Internal Control Standards
for Pollutants. Through enhancements in wastewater treatment processes and the expansion of wastewater reuse
initiatives the Company has minimized the generation of wastewater pollutants.Both the Shanghai Production Base and the Wuxi Production Base are equipped with online monitoring systems for
wastewater pollutants with discharge concentrations transmitted in real-time to the environmental regulatory authorities’
public information platform ensuring reliable transparent and traceable environmental information.Types and Treatment Methods of Water Pollutants at Hua Hong Semiconductor
Type Treatment Method
Wastewater pH COD ammonia nitrogen Discharged into the municipal sewage network upon meeting the
fluoride ion etc. discharge standards after being treated through a wastewater
treatment system utilizing processes such as coagulation
sedimentation air stripping acid washing absorption aerobic
biological contact acid-base neutralization MBR etc. and then
further treated by urban sewage treatment plants before being
released into natural water bodies
During the Reporting Period the wastewater test results of the Company indicated that all types of wastewater
pollutants achieved compliant discharge.Water Pollutant Management Metrics and Targets of Hua Hong Semiconductor in 2024
2024 2024 2024 Progress
Metric Unit Base Performance Target Towards Target
Annual COD mg/L Shanghai Production 65.7 Better than the emission Emission concentration is
discharge Base standard (500) by more more than 30% better than
concentration than 30% that is <350 the emission standard
achieving the target
Wuxi Production Base 29.9 Better than the emission
standard (50) by more
than 30% that is <3598 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 99
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Measures and Achievements in Reducing Water Pollutant Discharges at Hua Hong Semiconductor in 2024
Specific Measures Achievements
Recycling and reusing relatively clean cleaning wastewater to reduce wastewater Reducing DHF wastewater
discharge from hydrofluoric acid and deionized water (DHF) solution cleaning discharge by 10000 tons/
year
Completing the switch to 55LP Plus eFlash through the 55LP eFlash platform reduce Reducing wastewater
process steps by 3% and shorten manufacturing cycles by 4% discharge by 3708 tons/year
Waste Management
The Company complies with the Law of the People’s Republic of China on the Prevention and Control of Environmental
Pollution by Solid Wastes and the Standards for Pollutant Control in the Storage of Hazardous Wastes and has
formulated management systems such as the Waste Management Procedure and the Code of Practice for Industrial
Waste Management to standardize the processes of waste generation temporary storage transfer and disposal. The
Company also registers the waste disposal methods and destinations through the unified environmental protection
management system of the government to ensure traceability. The waste is properly recycled landfilled or incinerated
by qualified transportation and disposal units.During the Reporting Period in accordance with the Notice on Further Strengthening the Standardized Environmental
Management of Hazardous Wastes in the City issued by Shanghai Municipal Bureau of Ecology and Environment the
Company established an electronic tag application management system for hazardous wastes achieved real-time
connection with the solid waste system of Shanghai and added the Management Measures for the Electronic Tag
Application System for Hazardous Wastes to standardize the electronic management of hazardous waste tags.Types and Treatment Methods of Wastes at Hua Hong Semiconductor
Type Treatment Method
Non-hazardous Domestic waste and kitchen garbage Entrusting the environmental sanitation departments in
waste the places where we operate for unified disposal on a
regular basis
Raw materials for production and office Recycling within plant premises
supplies
Sludge etc. Landfilling and brick manufacturing
Hazardous Waste acid waste isopropanol waste Handled by suitable enterprises or reused in other
waste phosphoric acid and organic waste industries for a higher reuse rate
liquid etc.Waste glass bottles 200L chemical Chemical treatment
ba r re l s and was te l i qu id f r om
laboratory etc.Cleaning cloths plastic bottles waste Incineration
activated carbon waste resin and
arsenic-containing waste etc.The Company identifies and categorizes wastes as well as adopts appropriate management measures and reuse
methods to strive in maximizing the recycling rate of wastes.100 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 101
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Waste Management Metrics and Targets of Hua Hong Semiconductor in 2024
Progress towards
2023 2024 the Completion of
Metric Unit Performance Performance 2030 Target the 2024 Target
Waste generation kg/8-inch wafer 7.65 8.29 Decrease by 4% Increase by 8.41%
per unit product count compared to 2023 compared to 2023
towards the target
4.4 Circular Economy
The main types of raw materials for the Company’s production and operation include silicon slices quartz target
materials chemicals etc. To standardize the use of raw materials the Company has formulated raw material
management systems such as the Raw Materials Shelf Life Control Policy the Risk Identification and Response
Measures for Key Materials and the Key Materials Risk Analysis Table ensuring that raw materials are within their shelf
lives and that there are no quality or safety issues with key materials. For production auxiliaries such as chemicals and
gases the Company has established the Materials Management Department’s Management Standards for Chemical
Storage and Gas-based Operations promoting safe storage and handling procedures.On the basis of standardizing raw material management the Company adhering to the principles of “reduction fromthe source” and “circular economy” and complying with the Law of the People’s Republic of China on the Promotion
of Circular Economy strives to minimize the use of raw materials especially chemicals to further reduce safety risks.Additionally it reduces waste of resources by improving production processes and rationally allocating resources for
recycling.Measures and Achievements in Saving Raw Materials at Hua Hong Semiconductor in 2024
Entity Specific Measures Achievements
Shanghai Production Imp lement ing modi f ica t ions to the Annual photoresist reduction by about
Base equipment used for photoresists to reduce 1000 liters
raw material consumption
Improving production processes and Annual savings of 9100 liters of ammonia
extending the service life of chemicals water and 4300 l i ters of hydrogen
peroxide
Carrying out thin film process renovation Annual savings of 1217 kilograms of
hexafluoroethane
Wuxi Production Base Adjusting process parameters and reducing Annual savings of 2520 liters of sulfuric
cleaning frequency acid
Annual savings of 420 liters of hydrogen
peroxide
4.5 Green Products
Chemical Control
Multiple processes in the Company’s manufacturing operations require the use of chemicals among which some
hazardous and toxic chemicals require special management.100 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 101
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Types of Hazardous Chemicals of Hua Hong Semiconductor
Type Name
Flammable liquid Isopropanol photoresist and diesel fuel
Oxidants and organic peroxides Hydrogen peroxide
Toxic chemicals Phosphine and fluorine
Corrosive chemicals Sulfuric acid hydrochloric acid hydrofluoric acid
phosphoric acid mixed acid ammonia water and sodium
hydroxide
Compressed and liquefied gases Hydrogen methane silane nitrogen oxygen argon
helium ammonia and chlorine
The Company has formulated a number of management policies and operation procedures including the Chemicals
Management Procedure the Inspection and Registration System for Chemicals Coming In and Out of the Warehouse
the Hazardous Chemical Safety Management Regulations and the Management Measures for Hazardous Chemicals
aiming at reducing the risks associated with chemical operations through standardized label management and in/out
registration management.The Company has established a Factory Chemical Review Committee and formulated the Chemical Substance Review
Procedure to comprehensively evaluate the environmental protection and safety qualifications as well as the risk
prevention and control capabilities of chemical suppliers in advance. The Company employs the chemical substance
management system to: manage the handling storage and disposal of chemicals; control the maximum storage
quantity of chemicals; and dynamically monitor their use and consumption to ensure the safe use of chemicals and
eliminates environmental pollution caused by chemicals.Management Process of Hazardous Chemicals of Hua Hong Semiconductor
Purchase Use and Disposal
* The purchase and * Vehicles transporting * Hazardous chemicals
marketing personnel of hazardous chemicals shall be used in strict
chemicals shall work with shall be used for special accordance with the safe
qualification certificates purpose to prevent the operation procedures;and ask for chemical chemicals from “running * Hazardous chemicalsout spilling dripping orsafety specifications leaking”; that need to be disposed
and chemical safety * Chemicals shall be of shall be collected by
labels when purchasing separated classified special personnel sent to
hazardous chemicals. and stored by their the Company’s hazardous
performance; managed waste warehouse and then
by special personnel; and delivered to the hazardous
regularly inspected. waste disposal agency for
centralized disposal.Transportation
and Storage102 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 103
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Management for the Full Life Cycle of Products
The Company adopts the concept of circular economy reduces the amount of raw materials used continuously
explores the recycling links of wastewater energy and waste and lowers the impact of the full life cycle of products
on the environment.Environmental Management for the Full Life Cycle of Products of Hua Hong Semiconductor
Warehousing Product Product Transportation End-user Products Disposal
of Raw Materials Production
* Carry out hazardous * Choose low- * Use environmentally * Develop * All wafers are tested
substance energy and high- friendly packaging lowpower and for harmful substances
examination and efficiency production materials whenever highperformance to reduce their
systematic control on equipment to reduce possible chips to minimize environmental impact
raw materials the use of raw * Recycle and reuse environmental when discarded
* Review the materials and energy packaging materials impact * End-of-life products
qualification and * Treat production * Optimize * Develop new are disposed of as
environmental wastewater to meet transportation routes products that electronic waste by
compliance of standards and reuse to reduce repeated are smaller in consumers through
suppliers and require it in production and no-load size but more qualified institutions
suppliers to sign to increase the transportation efficient to reduce for harmless disposal
the Environmental wastewater reuse environmental with some parts
Protection rate pollution or metals being
Undertaking Letter * Optimize production dismantled refined
technologies and and recycled
pollution treatment
processes to reduce
the generation of
wastewater and
waste gas102 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 103
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
5. Caring for Employees and Promoting Harmonious Development
5.1 Rights and Interests of Employees
Employee Employment and Recruitment
The types of employee at Hua Hong Semiconductor include full-time contract workers dispatched labor workers
and employees of other forms (like retired rehires and trainees). During the process of employment and recruitment
Hua Hong Semiconductor strictly adheres to the Labor Contract Law of the People’s Republic of China and the Law
of the People’s Republic of China on the Protection of Women’s Rights and Interests. We insist on fair employment
implement the principle of equal pay for equal work and ensure that employees are not discriminated against or
treated differently based on non-work factors including age gender place of birth religious belief marital status or
disability. We prohibit the employment of child labor or forced labor.The Company has formulated relevant internal regulations including the Employment Procedures the Management
Procedures for Trainees and the Resignation Management Regulations. The Company strictly checks the identity
information of employees and never employs adolescents under the age of 16. If such a situation is identified and
verified it will be immediately suspended and investigated for rectification targeting at the omission of links around the
recruitment review process so that each process can be improved. During the Reporting Period the Company has
experienced no illegal or non-compliant incidents in connection with employee recruitment and dismissal work hours
and holidays job promotion and equal opportunities anti-discrimination and diversity the employment of child labor or
forced labor nor had any litigation in connection with the aforesaid matters.In order to better carry out the Company’s talent reserve and cultivation the Company launched a university campus
summer internship program to provide internship opportunities for students to help them understand the Company’s
corporate culture operation system management model etc. as soon as possible for future employment and career
preparation. The Company assigns senior professional staff to guide interns in all aspects of work study and life and
provides certain remuneration for their work.Employee Employment Norms of Hua Hong Semiconductor
Working Hours
Recruitment DemocraticRemuneration and Vacation
and Dismissal Participation
System
* Recruitment: Adhering * Providing competitive * A standard working * Establishing labor
to the principle of remuneration to hours system union employee
fairness equity and employees that are is adopted. A congress etc. to
openness; sufficient for them and comprehensive or ensure the democratic
* Dismissal: The their family members to flexible working hours participation of
Company and enjoy a decent standard system is adopted employees in the
employees go of living; for certain positions Company’s decision
through the dismissal * Contributing to with the approval of making.procedure according social insurance and the administrative
to relevant laws housing fund for full- department of human
regulations and the time employees and resources and social
Dismissal Management procuring commercial security;
Procedure. insurance such * Based on holidays
as accident injury and festivals specified
insurance and critical by the government
illness insurance supplementary annual
beyond the statutory leaves are provided for
requirements. full-time employees.104 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 105
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
The Company firmly believes that a diverse and inclusive culture is a key factor in stimulating team vitality and
promoting sustainable corporate development. In the recruitment process the Company actively expands diversified
recruitment channels to attract and accept outstanding talent with different cultural backgrounds educational
experiences and technical expertise while providing equal employment and development opportunities. Meanwhile
the Company attaches importance to diversity and equality in the workplace ensuring that all employees can
contribute their strengths in an environment that respects and supports differences.Practices of Employee Diversity of Hua Hong Semiconductor
Gender Diversity
* Upholding the principle of “gender equality” in recruitment employment and promotion the Company
incorporates employee aptitude and performance assessments into the standards of employment and promotion.Age Diversity
* Upholding the principle of “age equality” the Company provides job and promotion opportunities
for employees of different age groups.Functional Diversity
* The Company offers various positions and levels in management technology and functional support allowing
employees to choose based on their own development plans.Employee Composition of Hua Hong Semiconductor in 2024
Gender Distribution
26%74%
Female Male
Age Distribution
43%55%2%
<30 years old 30-50 years old > 50 years old
Over 1700 Persons Recruited in 2024 Including
49%35%9%
Front-line production Engineering and technical R&D personnel
personnel personnel
Employee Care
The Company creates a caring work environment for its employees providing benefits in terms of office facilities
dining accommodation travel etc. and fostering a warm loving and energetic work atmosphere.104 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 105
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Employee Care System of Hua Hong Semiconductor
Office * The ventilation system is installed in all offices and additional air purification devices added
to improve office air quality.* The soft furnishings in employee lounges such as refrigerators TVs and seats are
updated.* Greenery is increased within the factory premises with the addition of fountains decorative
fishponds and other landscaping features.Diet * There are staff canteens and coffee shops in all factories.* Establishing a food safety supervision team adopting the mode of centralized purchasing
of food materials and qualified supply chain management and inviting employees and
department representatives to carry out supervision.* Advocating healthy diet constructing a healthy dietary system scientific management of
meals with nutritional balance and oil and salt control effectively enhancing the rationality
of employees’ dietary structure and realizing the dynamic balance between deliciousness
and health.Accommodation * Construction of dormitory with private bathrooms 24-hour supply of hot water and WIFI
network etc.* The dormitory area has a library computer room snooker room laundry TV room parcel
locker and other facilities.Travel * Providing all employees with travel allowance.* Providing free commuter bus services between the park subway stations and the
dormitory.Culture * Setting up various cultural and sports associations including calligraphy and painting
and sports association gardening association tea art association fitness association cycling
association etc. which can be signed up for participation by all employees.* Organizing all kinds of competitions including basketball football swimming dry land
curling tennis badminton table tennis etc. which can be signed up for participation by all
employees.Extending * Celebrations and comfort activities are held during major holidays.solicitude * Providing holiday and birthday gift packages for employees so that employees can feel the
warmth and care of the Company.Health checkup * Offering annual health check-ups for all employees including screenings for multiple types
of cancer and establishing employee health records for systematic tracking of changes in
employee health status.* Setting up a “Health Protection Column” carrying out health special lectures publish
popular science articles to advocate healthy lifestyle.* Provide mutual aid insurance for employees every year improve the level of medical
insurance for employees and reduce the medical burden of employees.The Company complies with laws and regulations such as the Measures for Labor Protection of Female Employees
in Shanghai and the Measures for Urban Maternity Insurance in Shanghai and has concluded a Collective Contract
for the Protection of Female Employees to safeguard the legitimate rights and interests of female employees. Mammy
Huts are established across all factories and the Labor Union allocates funds annually to support the development of
female employees planning festival welfare for International Women’s Day each year.106 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 107
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Employee Care Actions of Hua Hong Semiconductor in 2024
Action Name Type and Effect
Expanding service areas The Volunteer Service Corps is established to deepen volunteer joint construction
activities in each factory area and to create a safe and healthy work environment
thereby continuously enhancing employees’ sense of happiness satisfaction and
security.Carrying out people-centric Bases in Shanghai and Wuxi have built new employee dormitories and organized aengagement programs rationalization proposal activity titled “Building Good Living Spaces and Creating aSatisfactory Environment” combining contemporary employee needs to build leisure
facilities.Employee Communication
Employee communication is an important part of corporate sustainability. The Company is committed to establishing
transparent and open communication mechanisms to ensure that employees can fully express their opinions and
participate in the Company’s decision-making. The Company has formulated the Employee Communication Rules
and encouraged multi-way communication between the Company and employees between officers and subordinate
officers and among employees.The Company listens to employees’ voices and responds to their concerns in a timely manner by holding regular
employee representative meetings employee joint meetings communication meetings and other forms. In addition
the Company allows employees to fully participate in the decision-making of the Company promotes communication
between management and employees safeguards the legitimate rights and interests of employees and creates a
harmonious working atmosphere. Through multiple forms and channels such as conducting dynamic research on
employees’ thoughts a rationalization suggestion platform and departmental communication meetings the Company
helps itself understand employees’ needs actively responding to reasonable demands and enhancing employees’
sense of responsibility and identity.In addition the Company conducts employee satisfaction surveys from time to time to collect opinions and needs of
various employees extensively through different forms including forums for young employees an OA online platform
and internal departmental communications. The results of the employee satisfaction survey in 2024 remained at around
90 points reflecting the overall recognition and satisfaction of employees with the work of the Company. In response
to specific opinions put forward by employees the Company actively responded and solidly promoted comprehensive
supporting projects in Shanghai and Wuxi through the practice of “I do practical things for the masses” addressed the
needs of employees and further enhanced the sense of belonging and happiness of employees.
5.2 Employee Health and Safety
The Company strictly adheres to laws and regulations such as the Occupational Disease Prevention and Control
Law of the People’s Republic of China the Work Safety Law of the People’s Republic of China and the Work Injury
Insurance Regulations in its daily production and operation. To strengthen work safety efforts and establish a
sound safety production responsibility system the Company has formulated management procedures including
Implementation Measures for the Safety Production Responsibility System of the Safety Production Committee the
Environmental Occupational Health and Safety Management Manual the Safety Production Expense Management
Procedure and the Work-Related Injury Management Method in accordance with the requirements of the
ISO45001:2018 Occupational Health and Safety Management System thus providing employees with a good working
environment and occupational health guarantees.106 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 107
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Governance
The Company follows the principle of “one position with one responsibility” for the primary responsibility system
of safety production while improving the overall safety production responsibility system for all employees. TheCompany has established a Safety Production Committee adhering to the principles of “strictly implementingprimary responsibilities strengthening direct supervision by departments consolidating on-site supervision withinthe factory area and reinforcing comprehensive safety supervision” and continuously promoting the standardization
systematization and intelligent implementation of safety work.The Safety Production Committee sets management objectives for safety production and occupational disease
prevention and control links safety management objectives with the safety production responsibility system and
regularly reviews the achievement of these objectives.Strategy
The Company formulates an occupational health and safety management policy strictly follows safety health and
environmental protection laws and regulations creates a safe healthy and comfortable working environment for its
employees and relentlessly pursues the ultimate goal of “zero disaster” and sustainable operation aiming to become
a model global corporate citizen.The Company continuously promotes special rectification actions for safer production covering aspects such as
hazardous chemicals engineering construction fire protection gas electricity and special equipment. During the
Reporting Period the Company held 4 safety committee meetings to deploy key tasks of the Three-Year Action Plan
for Fundamentally Improving Safety Production. The management review meeting annually reviews the implementation
of the occupational health and safety policy updates legal and regulatory requirements and deploys implementation
plans.Impacts Risks and Opportunities Management
The Company has formulated the Safety Production Expense Management Procedure determines the budget at
the beginning of the year reduces risks and hazards in key areas and critical facilities actively carries out safety
technology improvement programs and reports the progress of these programs on a weekly basis. The Company
routinely identifies safety hazards establishes emergency response infrastructure and teams adopts a digital safety
management system clarifies work injury identification and handling methods and establishes a complete safety
production management system.Safety Risk Identification and Management System of Hua Hong Semiconductor
Management Processes Management Measures
Hazard identification Grid-based Hazard Inspection: By adopting risk classification control and hazard
identification we have deeply promoted grid-based hazard screening. In 2024 we
conducted a total of 410 supervision inspections and checked and corrected 16139
hidden dangers.Special Inspection for Major Programs: We have strengthened safety management
for major construction projects implemented special actions for hazard identification
and rectification conducted safety inspections specifically for high-risk engineeringtasks adhered to twice-daily joint inspections and successfully completed the “threesimultaneous” phased work for major construction projects.Emergency response Fire Protection System Facilities: A comprehensive indoor and outdoor fire hydrant
system automatic fire extinguishing system automatic fire alarm system smoke
exhaust system fire emergency broadcasting system and evacuation indication and
emergency lighting system have been established.108 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 109
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Management Processes Management Measures
Alarm Monitoring System: The clean room is equipped with alarm systems for toxic
harmful and flammable gases a liquid leak detection system and a very early smoke
detection alarm system.Emergency Response Team Support: An Emergency Response Team (ERT) has
been established to conduct professional skills training. Emergency response plans
tailored to different types of disasters have been developed. Specialized disposal drills
are organized regularly and issues identified are promptly rectified.Digital management Digital Systems: Safety management systems such as a special equipment
registration system and an infrared inspection record system for equipment have been
established using data records to ensure the implementation of rectification measures
and standardize procedures.Work-related injury handling In accordance with the Work-Related Injury Management Regulations of the Company
when a work-related injury occurs the department involved must report the incident
to the safety department within 24 hours. The safety department shall then organize
an investigation into it and convene a work-related injury seminar together with the
Human Resources Department the Labor Union and the Medical Clinic under the
Comprehensive Management Department and submit the application for work-related
injury recognition to the social insurance administrative department.Furthermore to extend the development of our safety culture and enhance the safety awareness of all employees theCompany has launched thematic activities such as “Safety for Everyone and Emergency Response by All – KeepingLifelines Open” for Safety Production Month and “Fire Safety for All and Life Above All Else” for Fire Prevention
Awareness Month. Through various safety promotion and exhibition activities the Company aims to effectively improve
employees’ safety awareness and knowledge and promote the fulfillment of safety commitments and responsibilities by
all staff.Safety Production Culture Creation Action of Hua Hong Semiconductor in 2024
Action Name Content and Effect
Strengthening * Safety education on various safety topics and for all types of key personnel were
safety training conducted. In 2024 a total of 420 safety trainings were conducted with a total
of 60458 person-times of employee participation and 27789 person-times of
contractor participation.* The participation rate in terms of safety education and training reached 100% and
the certification rate for personnel holding required certificates reached 100%.Enhancing emergency * The expert review and filing of production safety emergency response plans
response capability have been completed normative documents for establishing and improving rapid
emergency response procedures against abnormalities at the production base
have been put in place and the goals of weekly training quarterly drills and
annual competitions have been achieved.* Standardized training and actual combat drills for emergency rescue teams (ERT)
were strengthened. In 2024 a total of 442 various emergency plan drills and 38
random ERT drills were organized and more than 45000 person-times of various
skills training were carried out.* During the “Fire Prevention Month” fire safety knowledge exhibition boards were
displayed and fire skills training as well as evacuation drills were conducted for all
staffs to enhance overall safety awareness and emergency response capabilities.108 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 109
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Safety technical * An evaluation activity for excellent safety technical transformation projects
improvement assessment covering six dimensions was conducted. In 2024 a total of 52 safety technical
improvements were implemented and 13 outstanding safety technical
improvements were selected in the previous year.The Company regularly identifies and evaluates safety risks. During the Reporting Period 3 work-related injuries
occurred in the Company and targeted protective education has been strengthened in this regard including safety
training for all personnel in the affected departments and on-site engineering control measures.Certification Status of Occupational Health and Safety Management System of Hua Hong Semiconductor
Validity Period of
Entity Certification Name Certification
Shanghai Production Base ISO45001: 2018 Occupational Health and Safety 18 April 2027
Management System
Wuxi Production Base ISO45001: 2018 Occupational Health and Safety 18 April 2027
Management System
In order to prevent control and eliminate occupational hazards and protect employees’ occupational health and rights
the Company has established a sound occupational health management system. In terms of occupational disease
prevention and control the Company regularly identifies and monitors occupational hazard factors informs employees
of these factors upon their entry provides consultation on personal protective equipment formulates standards for
protective equipment regularly organizes occupational hazard post education and training and supervises the correct
use of protective equipment. The positions involving occupational hazard factors in the Company mainly include
ion injection diffusion etching chemical mechanical grinding power gasification and other equipment operation
positions.Occupational Disease Hazard Prevention and Control System of Hua Hong Semiconductor
Job Positions with Occupational Occupational Health
Occupational Hazards Hazard Factors Countermeasures Monitoring
* Ion implantation * Fluorine and its * The equipment in * Annual occupational
diffusion etching inorganic compounds the clean room is health monitoring and
chemical mechanical hydrofluoric acid automatically operated assessment of current
grinding power hydrochloric acid in a closed space occupational hazards;
gasification and other nitric acid sulfuric and is equipped with * Strict pre-employment
positions involving acid phosphoric a closed process on-the-job and post-
equipment operation. acid ammonia exhaust system; employment medical
water hydrogen * Provide employees examinations for
peroxide arsenic with personal 100% employees at
and its compounds protective articles and positions exposed to
phosphorus and emergency response occupational disease
its compounds devices regularly hazards.isopropanol etc. checking such articles
and devices to ensure
their effectiveness.110 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 111
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Metrics and Targets
The Company has been certified with the Occupational Health and Safety Management System ISO 45001: 2018. All
employees have signed the Safety Responsibility Letter with a 100% participation rate and all contractors have signed
the Letter of Commitment on Safety and Environmental Protection with a 100% commitment rate so as to make every
department and every employee take their respective responsibility. In 2024 the total investment in safety production
was RMB34162300.Occupational Health and Safety Metrics and Targets of Hua Hong Semiconductor in 2024
2024 2024 Target
Metric Unit Performance
ISO 45001 certification coverage % 100 100
Employee signing rate of the Safety Responsibility Letter % 100 100
Contractor signing rate of the Letter of Commitment on % 100 100
Safety and Environmental Protection
Annual number of work-related fatal accidents Times 0 0
Annual number of occupational disease cases Times 0 0
5.3 Employee Development and Training
Employee Training
The Company has established a sound employee education and training system which is constantly adjusted based
on strategic development and employee needs. In 2024 the Company updated personnel rules and regulations such
as Education and Training Procedures to meet the all-round and multi-level training needs of employees in different
positions.The Company has complete training facilities equipped with dedicated training classrooms and training equipment
comma and an online platform for learning and sharing including online training enrollment management training
materials and job question banks multimedia learning courseware etc. In addition when necessary the Company
utilizes external resources to provide basic guarantees for employees’ learning and development.In 2024 the Company refined the classic programs of the special training camp for new college students
concentrated and updated the training courses further stimulated the subjective initiative of learning through innovative
forms helped new college students to quickly integrate into the Company’s and meet the challenges of future work
with full enthusiasm.110 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 111
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Employee Grading Training System of Hua Hong Semiconductor
Trainees Training Contents 2024 Performance
Grassroots Role recognition self-management * Training hours per capita 137.30 hours
managers managing others work management * Employee training coverage 100%
Front-line Develop management skills of front-
managers line shift and team leaders cultivate a
front-line management team with high
quality and high business ability and
lay a solid foundation for the Company’s
management
Newly-employed Career quality corporate culture
university introduction to special skills and other
students courses
Front-line Courses about theory and practical
employees training of the semiconductor
manufacturing module
The Company provides new employees with growth mentors systematically imparting professional knowledge and
practical experience to help them quickly adapt to the working environment and be competent at their jobs. The
Company provides a variety of training courses covering job skills professional technology management ability etc.We are committed to building a knowledge-based skilled and innovative workforce encouraging employees to carry
out scientific research and innovation activities based on their positions thereby enhancing the core competitiveness
of the Company.Employee Skill Enhancement Action by Hua Hong Semiconductor in 2024
Action Name Actions and Achievements
Innovation studio Based on 15 municipal and group-level employee innovation studios the Company has
established a platform for mass labor competitions in various forms and channels hosting
employee scientific paper contests front-line employee skill competitions energy-saving
and emission-reduction groups and other labor competitions covering all departments
and positions. Within the year 105 papers were received 178 patents were awarded and
111 energy-saving and emission-reduction projects were completed.
Youth vanguard team The Company launched company-wide youth vanguard team creation activities with thethemes such as “Youth Taking Responsibility on 520 and Striving to Exceed by 100Points” “Daring to Take on Responsibilities as Chip Youth and Contributing to Hua Hong’sHigh-Quality Development” and “Youth Setting Sail Forever Forward and Assisting HuaHong on Its New Journey”. Over the past five years a total of 147 company-level youth
vanguard teams have been established focusing on innovation efficiency and excellence
in process development flexible production cost reduction and supply chain safety.Career Development
The Company is committed to building a clear and transparent career development path for employees conducting
regular performance evaluations and giving feedback. According to the standard practice of the industry we have set
up three professional development paths including management technology and function support with corresponding
job training which not only supports employees to develop in a single sequence but also encourages conversion
from the technical path to the management path to take advantage of personal capabilities and promote professional
aspirations.112 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 113
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
To ensure a high-quality talent pool the Company enhances employees’ comprehensive capabilities through various
initiatives including specialized training technical exchanges and lectures to constantly optimize the talent cultivation
mechanism. The Company has formulated the Measures for Academic Education Subsidy which supports employees
in pursuing on-the-job continuing education enriching their professional knowledge and strengthening the Company’s
overall competitiveness.
5.4 Community and Public Welfare
The Company actively engages in social welfare dedicating itself to contributing in various fields such as community
service education and rural revitalization. It spreads love and warmth establishing itself as a model of corporate
responsibility.Main Actions and Achievements of Community and Public Benefit of Hua Hong Semiconductor in 2024
Action Name Action Content and Achievements
Volunteer Service * Employee volunteers have been visiting the Meixin Nursing Home for 19 consecutive
years to carry out volunteer service organizing activities such as singing dancing
and doing handicrafts. They put up festive couplets at the nursing home during the
Spring Festival delivered zongzi and mooncakes on traditional festivals and provided
heat relief supplies in summer.* Employees donated blood 166 times.Community * During the Zhangjiang Science Hall Science Festival themed “Enlightening with LightCo-building Exploring with Children (以光育光 探索‘童’行)” the Company organized a total of five
sessions of integrated circuit-themed science popularization activities.* Through the fun course “Turning Sand into Gold” over 500 children were educated
about the chip manufacturing process and the application of chips in daily life.* The Company has been providing the “First Aid Course for Accidents” in the
community where the headquarters operates for seven consecutive years covering
basic first aid knowledge and cardiopulmonary resuscitation to help residents master
skills for handling emergencies.One to-one Targeted * The Company launched a one to-one targeted poverty alleviation program with
Poverty Alleviation Yangbi Yi Autonomous Prefecture in Yunnan purchasing local agricultural products
Program such as walnuts and tea of approximately RMB1.2 million in aggregate.* The Company launched a one to-one targeted poverty alleviation program with
Youqiao Village in Chongming District Shanghai donating RMB50000.
6. Innovation-driven Development to Ensure Quality and Safety
6.1 R&D Innovation and Intellectual Property Protection
R&D Innovation
Relying on the layout advantage of “8-inch + 12-inch” the Company is committed to continuous innovation of
specialized process technologies and building core competitiveness around embedded/stand-alone nonvolatile
memory power discrete analog and power management logic and RF and other specialized process platforms.Adhering to the advanced “Specialty IC + Power Discrete” dual-engine strategy the Company is focused on high-
speed penetration into emerging markets such as communications new energy Internet of Things and automotive
electronics.Guided by the vision of “Continuous Innovation to Create ‘Chip’ Dreams for Global Customers” the Company strictly
adheres to laws and regulations such as the Law of the People’s Republic of China on Scientific and Technological
Progress and relevant requirements. It is committed to aligning with specialized technical processes continuously
enhancing its R&D innovation capabilities.112 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 113
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
GovernanceThe Company has established a governance structure comprising the “Board of Directors – Management – R&DDepartment”. The Board of Directors and Management are responsible for the Company’s overall R&D strategy and
ensuring that the direction of R&D is consistent with the Company’s long-term goals. Management is responsible
for implementing the Board of Directors’ decisions formulating specific R&D plans and technology roadmaps
and coordinating resources to drive the innovation process. The R&D Department as the core execution team
is responsible for day-to-day technology research product development and innovation to ensure continuous
breakthroughs and improvements in new technologies and products.Strategy
The Company recognizes the importance of continuously strengthening R&D innovation to refine manufacturing
processes and continues to provide excellent products and services to customers around the world. When making
strategic decisions on R&D innovation the Company thoroughly evaluates the impact risks and opportunities of
innovation on product promotion. For example the current digitalization trend is gradually enhancing the collaboration
and influence between automotive manufacturers and chip designers in the supply chain. Additionally the Company
improves its resilience to risks by sensing market trends and enhancing resource utilization efficiency.Impacts Risks and Opportunities Management
R&D Innovation Management System of Hua Hong Semiconductor
Management Process Management Measures
Identification and * Continuously monitor market changes and technological trends to ensure the
Assessment technology platform adapts to evolving needs.* Regularly review internal resources and technical capabilities to ensure support
for new product R&D and production.* Identify potential risk points such as technical barriers market acceptance and
regulatory changes and assess their likelihood and financial impact.Management and * Reduce risk levels by improving processes and increasing R&D investment.Optimization * Increase investment in potential chip technology and promote research and
development of relevant technologies.* Establish a flexible and efficient decision-making process to quickly respond to
opportunities arising from market changes and technological advancements.The Company has established broad product lines across multiple key technology platforms with end-use applications
covering diverse product needs including consumer electronics industrial control automotive electronics Internet of
Things communications and computers and power management.During the Reporting Period the Company actively promoted the the beginning to end industrial ecological cooperation
strategy and jointly promoted the sustainable development of the chip industry with its partners. Adhering to the
development concept of “openness innovation and cooperation” the Company actively cooperates with upstream
and downstream enterprises in the industrial chain. In the field of automotive electronics with more than 20 years of
successful experience in mass production of automotive electronic chips the Company helped automotive products
pass the AEC-Q100 Grade0 verification and improved a zero-defect management mode for automotive electronics
providing comprehensive high-quality chip processing services for automotive electronic application systems.114 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 115
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
R&D Innovation Indicators and Targets of Hua Hong Semiconductor in 2024
20232024
Indicators Unit Performance Performance
R&D Investment RMB10000 147858 164322
R&D Investment as % of Revenue % 9.11 11.13
Number of R&D Personnel Person 1285 1427
R&D Personnel as % of Total Employees % 18.72 19.06
Honors and Awards * National Science and Technology Progress Award (Second Prize)
* 35th Shanghai Outstanding Invention Gold and Silver Award (2024)
* Shanghai Outstanding Academician Expert Workstation (2024)
* Shanghai Employee Outstanding Innovation Achievement Award
Intellectual Property Protection
The Company strictly adheres to laws and regulations such as the Patent Law of the People’s Republic of China the
Copyright Law of the People’s Republic of China and the Trademark Law of the People’s Republic of China as well as
related requirements. It has established internal management systems including the Intellectual Property Management
System to build a comprehensive and efficient intellectual property protection framework. This framework promotes
technological innovation while standardizing intellectual property management.The Company continuously optimizes and refines its intellectual property management mechanisms striving to
integrate intellectual property protection concepts into every business process. Each year the Company sets goals
for patent applications actively safeguarding its own intellectual property. It commits to respecting and protecting the
intellectual property rights of all organizations and individuals while implementing stringent protection measures for the
product and technical information of upstream and downstream partners.To mitigate the risks of intellectual property infringement the Company standardizes and strengthens the assessment
of customers’ credibility and potential legal risks. Additionally the Company has established technology licensing
partnerships with multiple key technology providers to ensure that its products and services are developed on a legal
and compliant basis.Intellectual Property Protection Metrics and Targets of Hua Hong Semiconductor in 2024
Metric Unit 2023 Performance 2024 Performance
Cumulative Number of Patent Applications Piece 8969 9649
Cumulative Number of Patents Granted Piece 4427 4644
Number of Patent Applications Completed Piece 672 680
Number of Patents Approved Piece 270 230114 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 115
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
6.2 Product and Service Safety and Quality
Product Quality and Safety
The Company consistently upholds high standards in product quality adhering to the “zero-defect” philosophy and
striving to deliver exceptional products and services to customers.Governance
The Company complies with ISO9001 IATF16949 quality management system and related requirements. It has
established internal management systems including the Quality Manual Code of Practice for Quality Objective
Management Non-conforming Product Control Procedure and Supplier Management Regulations. These systems
specify the responsibilities of the Quality and Reliability Assurance Department in ensuring product quality and safety
requiring regular reporting to management and the Board of Directors to promote comprehensive planning and
implementation of quality management.Strategy
The Company emphasizes the profound impact of quality management on product and business development and
treats quality as a core element of its corporate strategy. It has established a rigorous quality management system
to identify and mitigate risk factors that may affect product quality enhancing the Company’s adaptability to external
environmental changes.Impacts Risks and Opportunities Management
According to the Non-conforming Products Control Procedures the Company has established a non-conforming
products management rules covering the entire product cycle specifying the handling specifications and applicable
circumstances for each process including incoming materials production testing inspection customer feedback
transportation and storage etc. For identified non-conforming products they are disposed in accordance with the
relevant provisions of the regulations to prevent their unintended use.Quality Management System Certifications of Hua Hong Semiconductor in 2024
Entity Name Expiration Date
Shanghai Base ISO 9001 Quality Management System 17 May 2027
IECQ QC 080000 Hazardous Substance Process Management 11 December 2026
System
IATF 16949 Quality Management System for Automotive Industry 17 May 2027
Wuxi Base ISO 9001 Quality Management System 11 November 2025
IECQ QC 080000 Hazardous Substance Process Management 11 December 2026
System
IATF 16949 Quality Management System for Automotive Industry 7 May 2026
During the Reporting Period the Company implemented multiple measures to drive quality improvement strengthen
quality reviews standardize supplier management and conduct quality training aiming to comprehensively enhance
product quality and customer satisfaction.116 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 117
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Product Quality Management Measures and Achievements of Hua Hong Semiconductor in 2024
Aspect Specific Measures and Achievements
Driving Quality * Conducted investigation and evaluation for five modules: R&D production
Improvement manufacturing testing and services and formulated improvement plans.* Proposed improvement solutions for each module and share our experiences in
relation to the quality issues related to automotive-grade processes.Strengthening Quality * Established the Company Quality Objective (CQO) and conduct the review
Reviews process.* Carried out activities such as the evaluation of the Quality Improvement Report
Competition (Eight Disciplines Report) and high-quality project reviews.Standardizing Supplier * Established performance indicators for supplier management including supplier
Management complaint rates and scrap rates due to supplier raw material quality.* Established the Electronic Certificate of Analysis (ECOA) for suppliers and
implemented Statistical Process Control (SPC) for key raw material parameters.Conducting Quality * The Shanghai and Wuxi bases conducted quality management and Zero Defects
Training quality awareness training simultaneously covering all employees totaling 6826
person-times.* Held quality month activities every year including quality lectures and debates
supplier exchanges information security weeks and quality essay and calligraphy
competitions to promote quality culture and enhance employee quality awareness.Product Quality Management Metrics and Achievements of Hua Hong Semiconductor in 2024
20232024
Metric Unit Performance Performance Target
Product Recalls Time 0 0 0
CQO % 93 84 80
Automotive Customer that Time 14 33 –
Passed AuditsHonors and * Shanghai Quality Technology Progress Award – Excellence Award: “Integration ofAwards 0.11-micron eFlash and BCD Automotive Process Platforms”* In 2024 the “Theme Activity of ‘Zero Defect of Characteristic Processes and High-quality Development of Hua Hong’” was recognized as the Quality Management
Model (Organization) Award (Excellent Level) by the Shanghai Association for
Quality
Hazardous Substance Control
The Company places high importance on controlling hazardous substances in its products and follows international
standards such as REACH WEEE RoHS and relevant requirements. It has established internal management systems
such as the Hazardous Substances Management Procedure to build a comprehensive hazardous substance
management system ensuring product quality and safety. During the Reporting Period the Company conducted
internal research on the use of Per – and Polyfluoroalkyl Substances (PFAS). For raw materials containing PFAS
the Company collaborated with customers to evaluate the replacement of raw materials ensuring compliance with
overseas regulations.During the Reporting Period the Company implemented measures across three dimensions namely source control
raw material testing and product certification to ensure compliance and safety in the use of hazardous substances.116 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 117
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Hazardous Substance Control Measures of Hua Hong Semiconductor in 2024
Aspect Specific Measures
Source Control * The Company incorporates hazardous substance control into the product R&D
process to reduce the risk of using hazardous substances from the source.Raw Material Testing * Suppliers are required to provide the product test report for hazardous substances
and sign the Letter of Commitment on Product and Environmental Protection.* We included hazardous substance compliance clauses in supplier audits and
regularly conducted sampling tests to ensure the safety of raw materials.Product Certification * A third-party organization is entrusted to carry out product Testing and certification
in accordance with the Directive on Restriction of the Use of Certain Hazardous
Substances in Electrical and Electronic Equipment Regulations (RoHS) and the
Regulation concerning the Registration Evaluation Authorization and Restriction of
Chemicals (REACH) to ensure that our products meet the requirements of relevant
certification standards.Customer Relationship Management
Guided by the concept of “providing customers with more convenient and safe services” the Company hasstrengthened its customer service management system covering “customer communication – customer complaints– customer satisfaction surveys”. In adherence to applicable laws and regulation including the Law of the People’s
Republic of China on the Protection of Consumer Rights and Interests and relevant requirements the Company has
formulated internal management systems such as the Customer Complaint Management Procedure and the Customer
Return Product Confirmation Procedure to continuously elevate customer service standards and improve customer
satisfaction.To ensure prompt responses to customer feedback and concerns the Company has outlined detailed standard
procedures and response strategies for handling customer complaints in line with the Customer Complaint
Management Procedure. Multiple customer complaint channels including email hotline letter and fax confirming
acceptance of customer complaints within 24 hours providing 3D reports (problem prevention measures report) within
48 hours and submitting 8D reports (problem solving report) of common products within 14 calendar days ensuring
timely resolution of customer complaints. As of the end of the Reporting Period the Company received a total of 2
customer complaints achieving a 100% complaint resolution rate.118 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 119
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Customer Complaint Handling Procedure of Hua Hong Semiconductor
Occurrence of a Complaint Investigation into Failure Causes Prevention and Correction
Normally communicate and Complaint cases requiring Implement corrective and
confirm with the customer failure analysis shall be preventive measures sort
within 24 hours after the t ransferred to relevant out and analyze relevant
occurrence of a complaint departments for handling information feedback by
and give a preliminary reply corrective and preventive customers regularly and
measures will be proposed review the recti f ication
according to the investigation effect
results and a reply will be
given to customers
The Company consistently conducts customer satisfaction surveys. During the Reporting Period the Company
continued to enhance customer satisfaction by conducting customer satisfaction surveys and promoting quality
improvement of its products and services in accordance with the Customer Satisfaction Evaluation and Improvement
Procedures. Management of the Company reviews the annual customer satisfaction survey results conducts analysis
and diagnostics and implements corrective actions based on the results. The Company continuously monitors the
effectiveness of these measures while providing feedback to customers.118 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 119
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Customer Satisfaction Survey Results of Hua Hong Semiconductor
2023 2024 Score change
8.97 points 8.89 points ↓0.08 point
6.3 Information Security and Privacy Protection
To continuously enhance information security and privacy protection the Company complies with laws and regulations
such as the Cyber Security Law of the People’s Republic of China the Data Security Law of the People’s Republic of
China the Cyber Security Management Regulations and the Regulation on the Administration of Commercial Cipher
Codes as well as other relevant requirements. During the Reporting Period the Company revised management
systems including the Data Management Procedures and the Personal Information Management Procedures in
response to changes in external management regulations to protect customer intellectual property user privacy and
personal information security.Governance
The Company continuously improves its Information Security Management System (ISMS) and has enhanced the
management structure of “President – Information Security Committee – Information Security Working Group” to ensure
the effective implementation and efficient operation of information security strategies. The Company has obtained
ISO/IEC 27001:2022 Information Security Management System certification with a validity period until February 2025.During the Reporting Period the Company did not experience any complaints or incidents related to the infringement
of customer privacy or loss of customer data.120 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 121
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
ISMS Structure of Hua Hong Semiconductor
President: As the top manager of ISMS takes overall control of
information management
Information Security Committee: It is composed of management
representatives and department heads to study and approve the
Company’s supervision rules and regulations on information security
and to supervise the duty performance of relevant departments
Information Security Working Group: With its members from the
Information Technology Department Quality and Reliability Assurance
Department Compliance Department etc. it is responsible for the
establishment and implementation of the ISMS
Strategy
The Company fully acknowledges the critical importance of information security and privacy protection. In response
to the dual challenges of increasingly stringent regulatory requirements and rapid technological advancements the
Company has embedded information security into its overall development strategy. By proactively allocating resources
and establishing a systematic management framework the Company strives to identify and mitigate potential risks in
advance while capitalizing on strategic opportunities in the field of information security.Impact Risks and Opportunities Management
During the Reporting Period the Company enhanced its overall capabilities in information security and privacy
protection through initiatives such as personal information access management risk assessments and self-inspections
and the execution of attack-defence drills. The Company is dedicated to establishing a more comprehensive efficient
and sustainable information security management system.Information Security and Privacy Protection Management System of Hua Hong Semiconductor in 2024
Management Process Management Measures
Information access * Enhanced protection measures across all stages of personal information
processing and upgraded the visitor registration system.* Revised the Personal Information Management Procedures to enforce privacy
protection requirements.Risk assessment * Strengthened the information security management system and revised the
Information Security Risk Assessment Management Procedures to comply with
data classification and grading requirements.Risk self-inspection * Promoted special initiatives on cyber security attaining a “Level 2 NetworkedIndustrial Enterprise” designation from the Ministry of Industry and Information
Technology.Practical drills * Implemented cyber security protection reinforcement initiatives and participated in
the “Cyber Security Enhancement with Industrial Empowerment” practical attack-
defence drill organized by the Shanghai Municipal Commission of Economy and
Informatization receiving the “Outstanding Blue Team Enterprise” award.120 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 121
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Metrics and Targets
The Company conducts quarterly training sessions on information security and privacy protection monitors participant
numbers and reviews training outcomes. Training topics include system certification information confidentiality trade
secret protection and strategies to counter cyberattacks.Information Security and Privacy Protection Training of Hua Hong Semiconductor in 2024
Participants Participants
Theme Coverage in 2023 in 2024
ISMS Training – Q1 Shanghai & Wuxi 8233 6683
Production Bases
ISMS Training – Q2 6554 6117
Introduction to the New Version of ISO 27001 6476 7346
System Standards and Information Security
Awareness Training – Q3
Introduction to the New Version of ISO 27001 6919 7491
System Standards and Information Security
Awareness Training – Q4
Confidentiality and Information Security 6802 7314
Compliance Training
Specialized Training for Attack and Defense Exercises – 7525
ISO 27001 Standards and Audit Skills Training – 99
6.4 Sustainable Supply Chain Management
Sustainable Supply Chain Management
The Company primarily relies on suppliers of silicon wafers chemicals and gases. The Company actively adheres
to industry standards and norms such as the Responsible Business Alliance (RBA). During the Reporting Period the
Company received the RBA “Platinum Award” certification.Governance
The Company has established a supply chain task force composed of engineering departments from various bases
the Quality and Reliability Assurance Department and the Procurement Department. The management team is
responsible for setting strategic directions and overseeing execution with regular reporting to the Board to ensure
that supply chain policies align with the Company’s objectives. The supply chain task force is tasked with evaluating
selecting and conducting regular audits of suppliers establishing a supplier performance management system and
compliance review mechanism to ensure the comprehensive implementation of quality environmental and social
responsibility requirements.The Company has formulated management systems such as the Supplier Risk Identification Planning and
Control Management Procedure and the Social Responsibility Management Manual to clarify the responsibilities
and requirements of supply chain management ensuring a scientific and rigorous process for supplier screening
qualification and management.Strategy
By establishing a systematic supply chain management process the Company integrates multi-dimensional risks and
opportunities related to the supply chain into its overall strategy promoting the development of a green supply chain.Through regular identification and assessment of key influencing factors within the supply chain the Company ensures
that its management strategies can effectively respond to external environmental shocks and market changes.122 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 123
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
At the same time the Company deeply integrates supply chain management with its strategic goals. Not only does it
ensure business continuity through risk control but it also actively explores the potential of the supply chain in cost
optimization technological collaboration and localized development. This enables the synergistic advancement of
supply chain management and the Company’s development.Overview of the Social Responsibility Requirements for Suppliers of Hua Hong Semiconductor
* Humane treatment
* Non-discrimination/
* Prohibition of forced labour * Working hours non-harassment
Labor * Non-employment of minors * Wages and benefits
* Freedom of
association and
collective bargaining
* Occupational safety * Industrial hygiene
* Public health food and
* Emergency preparedness * Heavy work
Environmental accommodation* Work injury and disease * Mechanical safety protection
Health and Safety
* Environmental licensing
* Water management
and reporting * Solid waste
* Energy consumption
* Pollution prevention and * Exhaust emissions
Environmental and greenhouse gas resource conservation * Restricted materials
protection emissions* Hazardous substances
* Intellectual property rights
* Business integrity * Fair dealing advertising and * Responsible mineral
* No unfair advantage competition sourcing
Business ethics * Information disclosure * Identity protection and * Privacy
prohibition of retaliation
* Management
responsibilities and
employee responsibilities * Improvement objectives
* Audit and evaluation
* Legal and customer * Training
Management * Corrective actionrequirements * Communication
system * Risk assessment and risk
management
Impacts Risks and Opportunities Management
The Company adheres to the Responsible Business Alliance (RBA) standards for social responsibility audits in the
electronics industry. It clearly defines the basic requirements for suppliers in terms of quality supply stability labor
management environmental protection and business ethics. The Company has established a management system
that includes initial reviews before supplier access annual evaluations and regular training sessions. This system
helps maintain stable cooperative relationships with high-performing suppliers.122 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 123
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Impacts Risks and Opportunities Management System of Sustainable
Supply Chain of Hua Hong Semiconductor
Management Process Management Measures
Supplier access * During the supplier access phase conduct initial reviews of performance in areas
such as quality requirements stable supply labor management environmental
protection and business ethics. Screen out suppliers with negative information
or those that fail to meet requirements. Key suppliers must pass the initial review
before being registered on the Approved Supplier List (ASL) to mitigate risks at
the initial stage of the supply chain.Supplier review * Conduct comprehensive risk assessments annually. In accordance with the
Supplier Risk Identification Planning and Control Management Procedure identify
potential risk points in suppliers through third-party audits or audit questionnaires
and propose corrective actions for identified risks. If a supplier fails to implement
effective corrections or commits major violations the cooperative relationship will
be terminated to ensure supply chain stability and compliance.Performance evaluation * Strictly control key performance such as raw material quality and compliance with
hazardous substance contents.* Conduct annual supplier performance evaluations and recognize outstanding
suppliers with awards to incentivize high-performing suppliers.Supplier dissemination * Regularly conduct dissemination and training covering multiple categories of
suppliers. Align suppliers with environmental ethical and quality standards
provide technical support and jointly explore potential opportunities for supply
chain optimization and improvement.The Company enforces strict anti-bribery and anti-corruption policies for suppliers requiring all suppliers to sign a
business ethics commitment letter. Through regular audits and performance evaluations the Company ensures that
their business practices align with its integrity and compliance standards.The manufacturing process of semiconductor silicon wafers requires a significant amount of water resources and
carries a high risk of pollution emissions. Failure to properly address pollution emissions and wastewater treatment
during production could exert greater pressure on water resource regeneration. To address this the Company has
implemented water resource management initiatives and performance investigations for silicon wafer suppliers
including water-saving goals water consumption and water-saving measures aiming to mitigate the impact of theirproduction operations on water resources. The Company set a goal of “achieving 100% coverage of water resourceinvestigations for major silicon wafer suppliers” which was accomplished during the Reporting Period.During the Reporting Period the Company conducted 270 investigations on related enterprises and established
contacts with over a hundred domestic suppliers further optimizing the supply chain management system. This
ensures the stability and efficiency of the supply chain providing strong support for business development.124 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 125
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Metrics and Targets of Sustainable Supply Chain Management of Hua Hong Semiconductor in 2024
Performance Performance
Metric in 2023 in 2024
Coverage Rate of Social Responsibility Review for Key Supplier 100% 100%
Number of Training Programs for Key Suppliers 20 20
Number of Newly Introduced Domestic Suppliers 28 18
Diversification rate of “8-inch + 12-inch” raw material suppliers 65.4% 76%
Diversification rate of “8-inch” raw material suppliers 72% 84%
Diversification rate of “8-inch” target materials and silicon wafers suppliers ＞90% 98%
Diversification rate of “12-inch” raw material suppliers 55% 65%
Responsible Minerals Management
“Conflict Minerals” refer to minerals mined in conflict zones that fund armed groups through illegal trade. These
minerals are extracted through violent coercion of laborers child labor and damaging the environment and ecology.The trade of such minerals frequently leads to human rights violations environmental damage and social instability.According to the Dodd-Frank Wall Street Reform and Consumer Protection Act and research by international
nongovernmental organizations conflict minerals may enter the information communication and technology (ICT)
industry and be used in electronic and electrical products such as mobile phones and computers.In the Company’s production process minerals such as gold (Au) tantalum (Ta) tungsten (W) tin (Sn) and cobalt (Co)
are used. To prevent the procurement and funding of mineral sources with negative social and environmental impacts
the Company has established the Conflict Minerals Management Policy to ensure that the minerals procured do not
originate from conflict zones.Over 71% of gold tin tantalum and tungsten used in the Company’s production process are from Asia with over
20% from Europe and the remaining portion from the Americas. Two-thirds of the cobalt used comes from Asia and
one-third from Europe. As of the end of the Reporting Period none of the gold tantalum tungsten or tin used by the
Company was from the regions with armed conflict.Types and Sources of Minerals Used of Hua Hong Semiconductor
Gold (Au) tantalum (Ta)
tungsten (W) and tin (Sn) Cobalt (Co)
7.6%
33.33%
20.7%
71.7%66.67%
Asia Europe The Americas Asia Europe124 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 125
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
In addition the Company adheres to international standards such as the Responsible Minerals Initiative (RMI) and the
Organization for Economic Co-operation and Development (OECD) Due Diligence Guidance for Responsible Supply
Chains of Minerals from Conflict-Affected and High-Risk Areas. It conducts traceability and due diligence on suppliers
requiring all suppliers to promise not to purchase conflict minerals in Conflict-Affected and High-Risk Areas. This
ensures that the mineral sources in the supply chain comply with regulatory and ethical requirements.Conflict Minerals Management Policy of Hua Hong Semiconductor
2. Suppliers are required to provide the
1. Suppliers whose raw materials contain The Company takes global social and declaration that they do not use gold (Au)
gold (Au) tantalum (Ta) tungsten (W) environmental responsibility as its tantalum (Ta) tungsten (W) tin (Sn) and
and tin (Sn) are required to purchase goal and follows green procurement cobalt (Co) from “conflict minerals” and
materials according to the Responsible principles and has promised to we issue the Conflict Minerals Reporting
Minerals Policy while suppliers whose raw undertake the following social and Template (CMRT) and the Extended
materials contain cobalt (Co) are required environmental responsibilities in its
metal supply chain Minerals Reporting Template (EMRT) to to disclose the smelters of cobalt suppliers
During the Reporting Period the Company conducted questionnaire surveys on metal target materials suppliers
achieving a coverage rate of 100% including both newly introduced and existing suppliers. The Company traced the
sources of mineral raw materials used in its products to ensure that the origin information of each batch of minerals
was clear and traceable. The traceability scope covered mines smelters and the entire supply chain. During the
Reporting Period the traceability results showed that 100% of the Company’s suppliers do not use conflict minerals.126 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 127
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
7. Robust Governance and Adherence to Business Ethics
7.1 Corporate Governance
Corporate Governance
As a listed company on the Main Board of the Hong Kong Stock Exchange and the STAR Market of the Shanghai
Stock Exchange the Company strictly complies with applicable laws and regulations of the place of incorporation the
place of overseas listing and the PRC such as the Companies Ordinance of Hong Kong the Listing Rules of the Stock
Exchange the Securities Law of the People’s Republic of China and the STAR Market Listing Rules of the Shanghai
Stock Exchange. It has established regulations such as the Articles of Association the Rules of Procedure for
Shareholders’ General Meetings and the Rules of Procedure for Board of Directors forming a corporate governance
structure and operational mechanism where the shareholders’ general meeting the board of directors and its
specialized committees work in coordination. This promotes scientific decision-making standardized operations and
further enhances the Company’s management level.The Company’s Board has established specialized committees including the Audit Committee Remuneration
Committee and Nomination Committee. Each committee performs its respective duties overseeing the Board’s
responsibilities and supporting its scientific decision-making. The Company has appointed three Independent
Non-Executive Directors to participate in decision-making and supervision enhancing the objectivity and scientific
rigor of the Board’s decisions.Corporate Governance Structure of Hua Hong Semiconductor
General meeting
of shareholders Audit
Committee
Board of Directors RemunerationCommittee
Nomination
The Management Committee126 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 127
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
As of the end of the Reporting Period the Board of the Company consists of 9 members including 1 female director.During the Reporting Period the Company held 16 Board meetings and considered 58 proposals.Information Disclosure
The Company strictly adheres to applicable laws and regulations and relevant requirements such as the Administrative
Measures for the Disclosure of Information of Listed Companies of the China Securities Regulatory Commission
(CSRC) and has established relevant documents such as the Information Disclosure Management System. It is
committed to ensuring the authenticity accuracy timeliness fairness and completeness of information disclosure to
meet the information needs of stakeholders. During the Reporting Period the Company strictly complied with relevant
information disclosure regulations promptly reported significant matters and continuously improved the quality and
compliance of its information disclosure.The Company regulates the shareholding behavior of directors and senior management by disclosing their
shareholding plans. In August 2023 the Company released the Announcement Regarding the Plan for Additional
Acquisition of A Shares of the Company by Certain Senior Management explicitly mentioning the share increase
plans of executive directors and senior management. The plan was fully implemented by 4 January 2024. Through
centralized bidding the Company’s senior management collectively increased their holdings of the Company’s
A-shares by 53618 shares with a total amount of RMB2.3094 million. After the increase the total shareholding ratio
rose to 0.0275%.Protection of Investors’ Rights and Interests
The Company places great emphasis on protecting shareholders’ rights and interests. By formulating reasonable profit
distribution policies and dividend plans it actively rewards shareholders and is committed to creating stable long-term
returns for investors. The Company has established an investor relations management department to maintain
proactive communication with stakeholders address key concerns of investors and ensure that their reasonable
demands are properly handled.Adhering to the principle of “equal treatment of all investors” and the requirement of “compliant information disclosure”
the Company follows the guidance of “integrity compliance and interactive communication”. It disseminates
information about the Company’s operations finances product technologies and significant matters to the capital
market through various channels such as shareholders’ general meetings regular reports direct hotline of investors
SSE e-Interaction special email for investors online and offline communication meetings official website and WeChat
account of the Company.During the Reporting Period the Company held 1 shareholder general meeting and considered 13 resolutions. All
meetings were open to all shareholders including small and medium-sized investors effectively safeguarding their
participation and right to know. Additionally the Company organized 4 performance exchange meetings to engage in
in-depth discussions with investors enhancing transparency and trust.
7.2 Risk and Compliance Management
The Company places great importance on risk and compliance management strictly adhering to the laws and
regulations applicable to its operating locations. It closely monitors the promulgation changes and revisions of laws
and regulations identifies provisions relevant to the Company’s operations and production and promptly aligns
internal management systems with external regulations to ensure compliance with the requirements of laws and
regulations.The Company has established the Rules about Comprehensive Control of Risks that covers all business processes. By
regularly identifying and analyzing risk lists it builds a long-term management mechanism implements risk prevention
measures across different levels and business lines and enforces effective risk control measures in key areas.128 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 129
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Drawing on the “Three-Line Model” by the Institute of Internal Auditors (IIA) the Company under the authorization of
the Audit Committee and management has established a risk management system tailored to its characteristics. It
clearly defines the division of responsibilities for addressing major risks including the responsible leaders leading
departments and their respective roles.Hua Hong Semiconductor’s Three Lines of Defence for Risk Management in the Economic Sector
Organisation Governing Body (accountable to stakeholders with supervisory responsibilities)
Board of Directors Audit Committee
Third Line
President/The Management
Internal Audit
Department
Information Quality & Reliability
Human Resources Finance Technology Compliance Assurance Second Line
Department Department Department DepartmentDepartment
Factory Customer Engineering China Sales International Sales Sales Service
Department Department Department Department
Market Development Business Administration Safety and Security Office of the
Development First Line
Department Department Department Department Board of Directors
Planning Purchasing Logistics Technical Research
Department and Testing and Development
Functions of the First Line: to provide products/services to customers and manage risks;
Functions of the Second Line: to provide expertise support monitoring and reasonable challenge
on risk-related matters;
Functions of the Third Line: to provide independent and objective confirmation and advice on all
matters related to the achievement of objectives.128 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 129
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Based on the “Three-Line Model” of risk management the Company adheres to the principle of combining
comprehensiveness and importance continuously optimizes its risk map integrates and categorizes certain similar risk
factors revises and supplements examples of risks and identifies 59 major risk factors. This enables comprehensive
prevention and effective supervision of both internal and external risks.During the Reporting Period the Company conducted annual risk assessments at its Shanghai and Wuxi Production
Bases. It designed risk survey questionnaires and systematically analyzed and identified key risk areas through
one-on-one interviews multi-department seminars on-site research sampling and other methods.Risk Management System of Hua Hong Semiconductor
Management Process Management Measures
Risk assessment * We identify and analyze risk areas through methods such as questionnaires one-
on-one interviews and multi-department seminars and score the risk areas to
generate an annual risk management report.Risk reporting * We implement a quarterly risk communication and reporting mechanism where
each business unit collects and reports risk events within their respective areas on
a quarterly basis or as needed.Communication and * From time to time we organize risk line management meetings conduct risk
training training and communicate risk issues across business units and at the company
level.130 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 131
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Risk Response Mechanism of Hua Hong Semiconductor
Risk Category Risk Content Strategy
Operation Research Cont inuous ly improve the R&D pro ject management system
and Developmentcomprehensively monitor the project initiation implementation and post-
evaluation of R&D continuously improve the project manager’s ability and
timely develop new technologies and products with commercial value
Product Structure Continuously promote technical product upgrading iteration increase flexible
production capacity promote process interoperability among factories and
optimize product structure
Talent Reserve Establish a talent resume database develop talent inventory continuously
and Developmentexplore recruitment channels optimize salary structure improve supporting
welfare policies and comprehensively enhance the attractiveness of
enterprises and employee satisfaction
Supply Chain Continuously develop diversified supply channels to ensure the stability
of the supply chain; set safety stock values for each production material
regularly review the rationality of safety stock values and timely adjust high-
risk materials with market changes
Information Establish information security framework and management policy implement
Security information security risk assessment process every year and continuously
monitor all critical information through DLP data protection system to ensure
that the best interests of the Company shareholders customers suppliers
and employees are protected
Finance Exchange Rate Adhering to the concept of exchange rate risk neutrality the Company
Control reduces the exchange rate risk of existing US dollar debts through currency
conversion interest rate swaps and the adoption of exchange rate risk
management products
Environment Security Inspection Continuously and regularly carry out safety inspection focusing on hidden
and Safety danger investigation and equipment fault diagnosis
Occupational The Company formulates environmental occupational health and safety
Health objectives indicators and scheme management tables according to the
objectives indicators and scheme management procedures of the HSE
management system
Environment The Company identifies evaluates and controls the planning and
management procedures according to environmental factors and makes a
list of major environmental factors130 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 131
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
7.3 Business Ethics
Anti-commercial Bribery and Anti-corruption
The Company is consistently committed to fostering a corporate culture of integrity honesty and fairness. It strictly
complies with laws and regulations such as the Criminal Law of the People’s Republic of China and the Interim
Provisions on Prohibition of Commercial Bribery and has established internal management systems including the
Social Responsibility Management Manual the Undertaking System on Anti-Corruption and Business Ethics and
the Business Ethics Talk Measures. These ensure adherence to high standards of integrity in partnerships and daily
operations.The Company integrates business ethics into its overall governance framework. Management is responsible for
overseeing the implementation and execution of this strategy while functional departments such as the Compliance
Department Human Resources Department and Procurement Department are specifically tasked with the
management and supervision of business ethics.Anti-corruption and Anti-bribery Mechanism of Hua Hong Semiconductor
prohibiting commercial bribery and maintaining fair competition order;
All employees (including
part-time employees) senior prohibiting seeking for illegitimate benefits through taking advantage of
management and Board influence in position and work;
members are required to
abide by relevant laws
a n d r e g u l a t i o n s a n d never violating financial management and operation regulations or seeking personal gain in the name of the Company;
practice and behave with
integrity dil igence and
self-discipline. Corruption prohibiting practicing fraud to undermine the legitimate interests and
and bribery in all forms are reputation of the Company;
prohibited including:
prohibiting any receipt of presents cash gifts securities and
monetary items that may cause a negative influence on work.The Company has established a systematic management system for business ethics to ensure that all operation
activities of the Company always comply with high standards of business ethics. The Company regularly conducts
comprehensive assessments of business ethics and anti-corruption efforts covering all business operations. The
Company not only assesses the effectiveness of anti-corruption mechanisms but also identifies potential integrity risks
and proposes improvement measures. In addition the Company has established a regular verification mechanism for
business ethics to ensure that ethical policies are consistent with business developments and industry norms.The Company is committed to creating a clean business ethics atmosphere. It conducts Responsible Business Alliance
(RBA) Code of Conduct training for new employees emphasizing clean business and other ethical business behaviors;
and organizes anti-corruption and business ethics training covering all employees in key positions to promote the
in-depth development of a culture of integrity and create a healthy work environment. During the Reporting Period
signing Ceremonies for the Undertaking on Business Ethics were held in Shanghai and Wuxi targeting the department
heads and above aiming to reinforce the commitment to ethical conduct and further enhance the transparent
atmosphere within the Company.The Company encourages employees to actively participate in supervision and whistle-blowing to maintain a clean
working environment and provides multiple whistle-blowing channels such as email telephone and mailbox and
employees can choose to report in real name or anonymously. The Company always maintains an open attitude to
ensure timely handling of reported information so as to promptly identify and solve problems and prevent and control
risks.132 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 133
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
To safeguard the fairness and transparency of whistle-blowing the Company has established a sound business ethics
supervision and whistle-blowing handling mechanism. All reported cases are investigated in detail and the results are
reported to the whistleblower after consideration. With regard to whistleblower protection the Company ensures that
their information is kept strictly confidential and prevents whistleblowers from being dismissed demoted suspended
or subjected to any form of retaliation for taking a lawful approach to whistle-blowing.Hua Hong Semiconductor’s Business Ethics Supervision and Whistle-blowing Case Handling Procedures
Complete the
investigation
and evidence
Immediately record collection within the
any individual specified time limit Give feedback to
whistleblowing case draw preliminary the whistleblower
received conclusions and report
to management
Arrange special
personnel or establish Hold a special meeting
a special team to to review the contents
understand the of the whistleblowing
situation carry out case and investigation
an investigation and results and come up
obtain evidence with a solution
As of the end of the Reporting Period the Company had no commercial bribery or corruption related incidents and
litigation cases.132 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 133
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Hua Hong Semiconductor’s 2024 Business Ethics Metrics and Targets
Achievement of
2024 Target 2024 Target
All suppliers have signed the Anti-Commercial Bribery Commitment Letter 100%
All employees in critical positions have signed the Integrity Commitment Letter 100%
Anti-Unfair Competition
Hua Hong Semiconductor strictly complies with the Anti-Unfair Competition Law of the People’s Republic of China
and other laws and regulations and relevant requirements explicitly prohibits unfair competitive behaviors such
as false advertising trade secret infringement and abuse of market dominance. The Company has established a
relatively comprehensive governance structure and internal supervision and management procedures implemented
risk assessment and compliance review processes and ensure timely identification and correction of any unfair
competitive behaviors. Meanwhile the Company conducts regular training for its employees to strengthen their legal
compliance awareness thereby preventing and addressing unfair competitive behaviors.The Company has clearly defined the responsibilities of each department to ensure effective identification of and
response to unfair competition risks. At the same time through strengthened analysis of the market and competitive
environment the Company conducts regular assessments of potential risks and opportunities and formulates
corresponding strategies to make adjustments.As of the end of the Reporting Period the Company has not been subject to any unfair competition lawsuits or
administrative penalties nor had it violated any laws or regulations regarding the use of product labels and promotional
content.134 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 135
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
8. Appendix
8.1 ESG Data and Notes
Environment1
Performance Indicators Unit 2022 2023 2024
Emissions
Total exhaust air emissions 10000 m3 2391024 2747929 2478838
Nitrogen oxide (NOx) emissions Kg 32650 33719 35333
Sulfur dioxide (SO2) emissions Kg 3546 5252 4013
Total wastewater discharge 10000 m3 832 898 970
Total Hazardous waste produced2 Ton 20385 20797 27601
Hazardous waste produced per unit product Kg/8-inch wafers 4.88 5.29 6.07
Total Non-hazardous waste produced2 Ton 9864 9269 10134
Non-hazardous waste produced Kg/8-inch wafers 2.36 2.36 2.23
per unit product
Use of Resources
Integrated energy consumed3 MWh 1065002 1168170 1272331
Integrated energy consumed per unit product MWh/8-inch wafers 0.25 0.30 0.28
Of which: Electricity purchased1 MWh 954667 1030352 1104829
Natural gas consumed1 m3 10530287 11048312 11630543
Gasoline consumed1 L – 43949 43923
Diesel consumed1 L – 15911 21244
Heat purchased1 GJ – 134940 141125
Total water consumed4 m3 18010226 19076734 21295153
Of which: Water from municipal water supply m3 10284063 11127266 12560168
Wastewater reused m3 7726163 7949468 8734985
Water consumed per unit product5 m3/8-inch wafers 2.46 2.83 2.76
Recycled/reused water m3 107163560 126544660 148470458
Total packaging materials used for the Ton 313.32 336.92 420.32
shipment of finished products
Packaging materials used for the shipment Kg/8-inch wafers 0.07 0.09 0.09
of per unit finished product
Recycled packaging materials used for Ton 54.90 66.33 84.71
the shipment of finished products
GHG Emission
GHG emissions6 tCO2e 497938 537070 562487
Of which: Direct GHG emissions tCO2e 24877 22881 25331
Indirect GHG emissions7 tCO2e 473060 514189 537156
GHG emissions per unit product tCO2e/8-inch wafers 0.12 0.14 0.12
Notes:
1. The expansion project of the Wuxi Production Base was put into operation in 2023 and the production capacity was expanded
in 2024. Therefore integrated energy consumed total wastewater discharge waste produced increased in 2024 but the
intensity performance indicators of most unit products have decreased.
2. Hazardous waste mainly includes waste isopropanol waste acid waste oil waste packaging materials etc. Hazardous waste
mainly includes waste sludge and domestic garbage.
3. Integrated energy consumption included electricity purchased natural gas gasoline diesel and heat purchased.
4. Total water consumption = water consumption from municipal water supply + wastewater reuse.134 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 135
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
5. In calculation water consumed per unit product only includes water from the municipal water supply.
6. GHG emissions are calculated in accordance with the GB/T 32150 General Guideline for Calculation and Reporting of GHG
Emissions from Industrial Enterprises and the GB/T 32151 Requirements on Calculation and Reporting of GHG Emissions
published by the Standardization Administration of China.
7. The indirect greenhouse gas emissions for the Shanghai and Wuxi plant were calculated based on the Notice on Adjusting the
Emission Factor Values in the Municipal Greenhouse Gas Emissions Accounting Guidelines issued by the Shanghai Municipal
Ecology and Environment Bureau and the Announcement on the Release of 2022 CO2 Emission Factors for Electricity (December
2024) issued by China’s Ministry of Ecology and Environment respectively. In 2024 Shanghai plant used a default value of
electricity emission factor of 0.42 tCO2/MWh and Wuxi plant used the national average grid emission factor of 0.5366 tCO2/MWh
when calculating.Employment and Labor Practice
Performance Indicators Unit 2022 2023 2024
Employment
Total number of full-time Person 6760 6863 7487
employees
By Gender Male employees Person 4932 5039 5525
Female employees Person 1828 1824 1962
By Type of Employment Employees working under a labor Person 6760 6863 7487
contract with the employer
Employees working under a labor Person 81 53 49
contract with a labor dispatch (not
included in the total number of
full-time employees)
Part-time employees Person 0 0 0
By Age Employees aged under 30 Person 2983 2894 3228
Employees aged between 30 and 50 Person 3624 3811 4091
Employees aged above 50 Person 153 158 168
By Level Non-management employees Person – – 7361
Management employees Person – – 126
By Educational Level Employees with graduate degree or Person – – 1987
above
Employees with undergraduate Person – – 2662
degrees
Employees with less than Person – – 2838
undergraduate degrees
By Region Employees working in Mainland China Person 6751 6855 7479
Employees working in Hong Kong Person 9 8 8
Macao Taiwan and overseas
Employee turnover rate1 % 12.0 10.0 11.2
By Gender Female employee % 9.7 7.1 6.3
Male employee % 12.8 11.3 12.5
By Age Employees aged under 30 % 18.3 14.0 17.2
Employees aged between 30 and 50 % 7.2 7.5 6.3
Employees aged above 50 % 0.7 1.9 1.2
By Region Employees working in Mainland China % 12.0 10.0 11.2
Employees working in Hong Kong % 0.0 9.7 0.0
Macao Taiwan and overseas136 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 137
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Performance Indicators Unit 2022 2023 2024
Health and Safety2
Occupational disease incidence % 0 0 0
Coverage of employees % 100 100 100
attending occupational
disease medical examinations
Number of work-related fatalities Person 0 0 0
Percentage of work-related % 0 0 0
fatalities
Lost days due to work injury Day 83 61 126
Employee Training
Average training hours Hour 122.2 133.7 137.3
completed per full-time
employee3
By Level Average training hours completed per Hour 123.7 135.6 139.1
non-management
Average training hours completed per Hour 26.5 31.6 29.3
management
By Gender Average training hours completed per Hour 124.3 125.1 119.6
female
Average training hours completed per Hour 121.4 136.8 143.6
male
Percentage of full-time % 100 100 100
employees trained4
By Level Percentage of non-management % 100 100 100
employees trained
Percentage of management % 100 100 100
employees trained
By Gender Percentage of female employees % 100 100 100
trained
Percentage of male employees % 100 100 100
trained
Total employee training RMB ten – – 195
expenditure thousand
Employee Rights
Employee labor contract signing rate % 100 100 100
Employee social insurance coverage % 100 100 100
rate
Number of employee discrimination Case 0 0 0
incidents
Amount of employee work injury RMB ten – – 963
insurance input thousand
Employee work injury insurance % 100 100 100
coverage rate
Notes:
1 Employee turnover rate for each category = number of employees in that category turned over during the year/number of
employees in that category at the end of the year.
2 Coverage rate for employee occupational disease physical examinations is calculated based on employees in occupational risk
positions at the end of the Reporting Period. During the Reporting Period the Company incurred 3 work-related injuries and has
strengthened protection education including safety training and education for all employees of the departments involved on-
site engineering control measures etc.
3 Average training hours for each category of employees = total hours of training received by each category of employees/
number of employees in that category at the end of the year.
4 Coverage rate of training for each category of employees = number of employees of that category receiving training/number of
employees of that category at the end of the year.136 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 137
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Product Responsibility and Customer Service
Performance Indicators Unit 2022 2023 2024
Product Responsibility and Customer Service
Number of incidents of non-compliance with relevant Case 0 0 0
laws and regulations on products and services during
the Reporting Period
Product return rate % 0.11 0.087 0.037
Percentage of products sold subject to recalls for safety % 0 0 0
and health reasons
Customer Service
Number of complaints received in relation to Case 0 4 2
products and services
Percentage of customer complaints resolved1 % – 100 100
Note:
1 Percentage of customer complaints resolved = number of customer complaints resolved/number of complaints
received about products and services *100%.Information security and privacy protection
Indicator Name Unit 2022 2023 2024
Number of confirmed incidents of leakage Case 0 0 0
theft or loss of customer information
Amount involved in data security incidents RMB ten 0 0 0
thousand
Amount involved in customer privacy leakage incidents RMB ten 0 0 0
thousand
Supply Chain Management
Performance Indicators Unit 2022 2023 2024
Total number of suppliers Supplier 551 561 581
By region Total number of suppliers in Supplier 413 420 436
Mainland China
Total number of suppliers from Supplier 138 141 145
Hong Kong Macao Taiwan
and overseas
Number of suppliers Supplier 112 114 139
assessed1
Number of suppliers subject Supplier 0 0 0
to rectification
Percentage of raw and % 100 100 100
auxiliary material suppliers
signing the Environmental
Protection Undertaking
Percentage of raw materials % 31 32 36
purchased from local
suppliers2
Notes:
1 Refers to the number of suppliers for which the Company has conducted assessments in respect of labor health environment
and ethics.
2 Raw material procurement includes: silicon wafers quartz target materials gases chemicals and other raw materials for
production.138 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 139
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Anti-corruption
Performance Indicators Unit 2022 2023 2024
Number of concluded legal cases regarding corrupt Case 0 0 0
practices brought against the issuer or its employees
during the Reporting Period
Cumulative hours of anti-corruption training Hour ╱ 2542 2245
received by employees
Average training hours per employee on anti-corruption1 Hour ╱ ╱ 1.2
Note:
1 Employees who have received anti-corruption training include all new employees and employees in key positions. Average
training hours per employee on anti-corruption = training hours for new employees and employees in key positions/number of
new employees and employees in key positions.Community Investment
Performance Indicators Unit 2022 2023 2024
Number of employees participating in volunteer services Person 4189 1108 1100
Cumulative hours of volunteer activities Hour 6283 1364 1212
Community investment RMB – 50000 50000
Economic Performance
Performance Indicators Unit 2022 2023 2024
Social contribution per share1 RMB 5.46 3.59 1.87
Note:
1 Social contribution per share = (net profit of the Company + tax paid to the state during the year + salaries paid to employees
+ interest on borrowings paid to banks and other creditors + value created for other stakeholders e.g. donations – other social
costs due to environmental pollution)/total number of shares of the Company.
8.2 List of Laws and Regulations Observed by the Company
Fields Names of Laws and Regulations
Environmental Responsibility
Environmental Management Environmental Protection Law of the People’s Republic of China Environmental Impact
Assessment Law of the People’s Republic of China Clean Production Promotion Law
of the People’s Republic of China Environmental Protection Tax Law of the People’s
Republic of China etc.Emissions and Waste Law of the People’s Republic of China on Prevention and Control of Atmospheric
Management Pollution Law of the People’s Republic of China on the Prevention and Control
of Water Pollution Law of the People’s Republic of China on the Prevention and
Control of Environmental Pollution by Solid Wastes Regulations on Administration of
Recovery and Disposal of Waste Electrical and Electronic Products Regulations on the
Administration of Pollution Discharge Permits etc.Energy and Resource Energy Conservation Law of the People’s Republic of China Law on Energy of the
Management People’s Republic of China Renewable Energy Law of the People’s Republic of
China Law on Circular Economy Promotion of the People’s Republic of China Water
Conservation Regulations etc.Product Quality Law of the People’s Republic of China on Product Quality Anti-Unfair Competition
Law of the People’s Republic of China EU Regulation concerning the Registration
Evaluation Authorization and Restriction of Chemicals (“REACH”) Waste Electrical
and Electronic Equipment Directive (“WEEE”) Restriction of Hazardous Substances
(“RoHS”) etc.138 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 139
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Information Security Cyber Security Law of the People’s Republic of China Data Security Law of the
and Privacy Protection People’s Republic of China Personal Information Protection Law of the People’s
Republic of China Cryptography Law of the People’s Republic of China Regulations
on the Protection of Computer Software Regulations on Network Data Security
Management
Intellectual Property Patent Law of the People’s Republic of China Copyright Law of the People’s Republic
Protection of China Trademark Law of the People’s Republic of China Implementation Rules of
the Patent Law of the People’s Republic of China Regulations on National Science and
Technology Awards etc.Responsibility for Employees
Employee Interests Labor Law of the People’s Republic of China Law of the People’s Republic of China
on Employment Contracts Social Insurance Law of the People’s Republic of China
Law of the People’s Republic of China on Protection of Women’s Rights and Interests
Vocational Education Law of the People’s Republic of China Regulations on the
Prohibition of Child Labor
Occupational Health Law of the People’s Republic of China on Prevention and Control of Occupational
and Safety Diseases Production Safety Law of the People’s Republic of China Special Equipment
Safety Law of the People’s Republic of China Regulation on Work-Related Injury
Insurances Regulations on Labor Protection in Workplaces Using Toxic Substances
Special Regulations on Labor Protection for Female Employees Regulations on
Emergency Response to Production Safety Accidents etc.Corporate Governance
Corporate Governance Company Law of the People’s Republic of China Securities Law of the People’s
Republic of China Hong Kong Companies Ordinance etc.
8.3 Benchmarking Index
The Hong Kong Stock Exchange’s Environmental Social and Governance Reporting Guide (effective from 31
December 2023)
Part B: Mandatory Disclosure Requirements
Mandatory Disclosure Items Section in the Report
Governance Structure ESG Management System
Reporting Principles Report Preparation Instructions
Reporting Boundary Report Preparation Instructions
Part C: “Comply or explain” Provisions
Aspects General Disclosures and KPIs Section in the Report
Subject Area A. Environmental
Aspect A1. Emissions
General Disclosure A1 Emissions and Waste Management
KPI A1.1 Emissions and Waste Management
ESG Data and Notes
KPI A1.2 ESG Data and Notes140 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 141
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Aspects General Disclosures and KPIs Section in the Report
KPI A1.3 ESG Data and Notes
KPI A1.4 ESG Data and Notes
KPI A1.5 Emissions and Waste Management
ESG Management Strategies and Targets
KPI A1.6 Emissions and Waste Management
ESG Management Strategies and Targets
Aspect A2. Use of Resources
General Disclosure A2 Energy Management
Water Resources Management
KPI A2.1 ESG Data and Notes
KPI A2.2 ESG Data and Notes
KPI A2.3 Energy Management
ESG Management Strategies and Targets
KPI A2.4 Water Resources Management
ESG Management Strategies and Targets
KPI A2.5 ESG Data and Notes
Aspect A3. Environment and Natural Resources
General Disclosure A3 Environmental Management
Water Resources Management
Circular Economy
KPI A3.1 Water Resources Management
Circular Economy
Aspect A4. Coping with Climate Change
General Disclosure A4 Climate Change Mitigation and Adaptation
KPI A4.1 Climate Change Mitigation and Adaptation
Subject Area B. Social Employment and Labour Practices
Aspect B1. Employment
General Disclosure B1 Rights and Interests of Employees
KPI B1.1 ESG Data and Notes
KPI B1.2 ESG Data and Notes
Aspect B2. Health and Safety
General Disclosure B2 Employee Health and Safety
KPI B2.1 ESG Data and Notes
KPI B2.2 ESG Data and Notes
KPI B2.3 Employee Health and Safety
Aspect B3. Development and Training
General Disclosure B3 Employee Development and Training
KPI B3.1 ESG Data and Notes140 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 141
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Aspects General Disclosures and KPIs Section in the Report
KPI B3.2 ESG Data and Notes
Aspect B4. Labor Standards
General Disclosure B4 Rights and Interests of Employees
KPI B4.1 Rights and Interests of Employees
KPI B4.2 Rights and Interests of Employees
Subject Area B. Social Operating Practices
Aspect B5. Supply Chain Management
General Disclosure B5 Sustainable Supply Chain Management
KPI B5.1 ESG Data and Notes
KPI B5.2 Sustainable Supply Chain Management
KPI B5.3 Sustainable Supply Chain Management
KPI B5.4 Sustainable Supply Chain Management
Aspect B6. Product Responsibility
General Disclosure B6 Product and Service Safety and Quality
KPI B6.1 Product and Service Safety and Quality
KPI B6.2 Product and Service Safety and Quality
ESG Data and Notes
KPI B6.3 R&D Innovation and Intellectual Property Protection
KPI B6.4 Product and Service Safety and Quality
KPI B6.5 Information Security and Privacy Protection
Aspect B7. Anti-corruption
General Disclosure B7 Business Ethics
KPI B7.1 ESG Data and Notes
KPI B7.2 Business Ethics
KPI B7.3 Business Ethics
Aspect B8. Community Investment
General Disclosure B8 Community and Public Welfare
KPI B8.1 Community and Public Welfare
KPI B8.2 ESG Data and NotesSelf-Regulatory Guidelines No.14 for Companies Listed on Shanghai Stock Exchange—Sustainability Report（ For TrialImplementation) (April 2024)
Disclosure Requirement Corresponding Sections of the Report
Coping with Climate Change Climate Change Mitigation and Adaptation
Pollutant Emissions Emissions and Waste Management
Waste Disposal Emissions and Waste Management142 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 143
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Disclosure Requirement Corresponding Sections of the Report
Ecosystem and Biodiversity Conservation In terms of biodiversity conservation the
four factories of the Company are located
in industrial plots and do not involve control
requirements such as ecological protection
red lines and water source protection areas.Environmental Compliance Management Environmental Management
Energy Utilization Energy Management
Water Resource Utilization Water Resources Management
Circular Economy Circular Economy
Rural Revitalization Community and Public Welfare
Social Contribution Community and Public Welfare
Innovation-Driven R&D Innovation and Intellectual Property
Protection
Technology Ethics The Company’s core business focuses
on the production and manufacturing of
semiconductor wafers and does not involve
this topic.Supply Chain Security Sustainable Supply Chain Management
Equal Treatment for SMEs As of the end of 2024 the balance of the
Company’s accounts payable (including
notes payable) will not exceed RMB30 billion
or account for more than 50% of total assets.Product and Service Safety and Quality Product and Service Safety and Quality
Data Security and Customer Privacy Information Security and Privacy Protection
Protection
Employee Rights and Interests of Employees
Employee Health and Safety
Employee Development and Training
Due Diligence Stakeholder Engagement and Due Diligence
Stakeholder Communication Stakeholder Engagement and Due Diligence
Anti-Commercial Bribery and Anti- Business Ethics
Corruption
Anti-Unfair Competition Business Ethics
Self-disclosure topics Green Products Green Products
Clean Technology Clean Technology Opportunities
Opportunities
Risk Compliance Risk Compliance Management
Management
Corporate Governance Corporate Governance142 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 143
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
Index Table of Environmental Social and Governance (ESG) Indicator System for State-owned Listed Companies in
Shanghai (Version 1.0)
KPIs Section in the Report
E Environment
E1 Environmental Management
E1.1 Environmental Management Objectives ESG Management Strategies and Targets
and Systems Environmental Management
E1.2 Passing Environmental Management Environmental Management
System Certification
E1.3 Research and Development of Green Green Products
Products and Use of Environmental Clean Technology Opportunities
Protection Technologies
E1.4 Total Investment in Environmental Environmental Management
Protection
E1.5 Environmental Protection Training Environmental Management
Performance
E2 Energy
E2.1 Energy Management Goals and Planning ESG Management Strategies and Targets
Energy Management
E2.2 Energy Saving Measures Energy Management
E2.3 Renewable Energy Development and Energy Management
Application
E2.4 Total Energy Consumption ESG Data and Notes
E3 Resources
E3.1 Resource Management System and Water Resources Management
Planning Circular Economy
E3.2 Water Resource Goals and Planning Water Resources Management
E3.3 Water Conservation Measures Water Resources Management
E3.4 Total Annual Water Consumption ESG Data and Notes
E3.5 Other Resource Usage Management Green Products
E4 Pollutants
E4.1 Sewage Management Goals and ESG Management Strategies and Targets
Planning Emissions and Waste Management
E4.2 Measures to Reduce Sewage Discharge Emissions and Waste Management
E4.3 Sewage Recycling Usage ESG Data and Notes
E4.4 Sewage Pollutant Discharge ESG Data and Notes
E4.5 Waste Gas Management Goals and ESG Management Strategies and Targets
Planning Emissions and Waste Management
E4.6 Measures to Reduce Waste Gas Emissions and Waste Management
Discharge
E4.7 Waste Gas Pollutant Emissions ESG Data and Notes144 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 145
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
KPIs Section in the Report
E4.8 Solid Waste Management Goals and ESG Management Strategies and Targets
Planning Emissions and Waste Management
E4.9 Solid Waste Treatment Measures Emissions and Waste Management
E4.10 Solid Waste Emissions ESG Data and Notes
E4.11 Solid Waste Recycling Utilization and ESG Data and Notes
Disposal Volume
E4.12 Other Pollutants Management The Company adopts noise prevention and
control measures such as building noise
insulation installation of vibration-damping
devices for equipment etc.E5 Climate Change
E5.1 Identify Climate Change Risks and ESG Management Strategies and Targets
Establish Goals and Strategies to Climate Change Mitigation and Adaptation
Address Climate ChangeE5.2 Measures to Support the “Emission Peak Climate Change Mitigation and Adaptationand Carbon Neutrality” Goal
E5.3 Carbon Verification/Review Measures Climate Change Mitigation and Adaptation
E5.4 Greenhouse Gas Emissions ESG Data and Notes
E6 Biodiversity
E6.1 Biodiversity Conservation System In terms of biodiversity conservation the
E6.2 Biodiversity Conservation Measures four factories of the Company are located
in industrial plots and do not involve control
requirements such as ecological protection
red lines and water source protection
areas.S Social
S1 Products and services
S1.1 Product Safety and Quality Management Product and Service Safety and Quality
System
S1.2 Passing Product Quality Management Product and Service Safety and Quality
System Certification
S1.3 Product Research and Development R&D Innovation and Intellectual Property
Innovation Protection
S1.4 Intellectual Property Protection R&D Innovation and Intellectual Property
Protection
S1.5 Customer Information Protection and Information Security and Privacy Protection
Privacy
S1.6 Customer Service Management System Product and Service Safety and Quality
S1.7 Responsible Publicity Product and Service Safety and Quality
S1.8 Number of Customer Complaints/ Product and Service Safety and Quality
Complaint Resolution rate
S1.9 Customer Satisfaction Product and Service Safety and Quality144 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED 145
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
KPIs Section in the Report
S2 Employee Responsibility
S2.1 Staff Employment and Staff Composition Rights and Interests of Employees
S2.2 Employee Turnover Rate ESG Data and Notes
S2.3 Democratic Management of Employees Rights and Interests of Employees
S2.4 Salary and Benefits System Rights and Interests of Employees
S2.5 Employee Care Rights and Interests of Employees
S2.6 Employee Satisfaction Rights and Interests of Employees
S2.7 Employee Occupational Health and Employee Health and Safety
Safety Management
S2.8 Passing Occupational Health and Safety Employee Health and Safety
Management System Certification
S2.9 Safety Emergency Management Employee Health and Safety
Measures
S2.10 Total Investment in Production Safety Employee Health and Safety
S2.11 Production Safety Training Performance Employee Health and Safety
S2.12 Work-related Injuries and Deaths ESG Data and Notes
S2.13 Employee Physical Examination ESG Data and Notes
Coverage
S2.14 Employee Career Development System Employee Development and Training
S2.15 Employee Training and Practical Employee Development and Training
Measures
S2.16 Employee Development Performance Employee Development and Training
S3 Supply Chain Responsibility
S3.1 Supplier Management System Sustainable Supply Chain Management
S3.2 Supplier ESG Review Sustainable Supply Chain Management
S4 Community Responsibility
S4.1 Carrying out Public Welfare and Charity Community and Public Benefit
Activities
S4.2 Public Welfare and Charity Investment ESG Data and Notes
S4.3 Volunteer Service Performance ESG Data and Notes
S5 Corporate Responsibility
S5.1 Serving National Strategy or Shanghai R&D Innovation and Intellectual Property
Strategy Protection Clean Technology Opportunities
Community and Public Benefit
S5.2 Responding to Public Crises Climate Change Mitigation and Adaptation
S5.3 Information Security Information Security and Privacy Protection
S5.4 Public Services Community and Public Benefit
S5.5 Tax Contribution Financial Statements Section of Hua Hong
Semiconductor Limited 2024 Annual Report
(A Share)146 HUA HONG SEMICONDUCTOR LIMITED ● 2024 ANNUAL REPORT 2024 ANNUAL REPORT ● HUA HONG SEMICONDUCTOR LIMITED PB
2024 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
KPIs Section in the Report
G Governance
G1 Corporate Governance
G1.1 Party Leadership Environmental Social Responsibility and
Other Corporate Governance Section of
Hua Hong Semiconductor Limited 2024
Annual Report (A Share)
G1.2 Separation of Chairman/General Separation of Chairman and General
Manager Manager
G1.3 Percentage of Directors Corporate Governance
G1.4 Compliance Management System Risk Compliance Management
G1.5 Risk Management System Risk Compliance Management
G1.6 Audit System Business Ethics
G1.7 Measures to Avoid Violating Business Business Ethics
Ethics
G1.8 Anti-monopoly and Fair Competition Business Ethics
G2 ESG Governance
G2.1 Board Involvement in ESG Management Board of Directors ESG Management
Statement
ESG Management Framework
G2.2 ESG Organizational Structure ESG Management Framework
G2.3 ESG strategy/objectives ESG Management Strategies and Targets
G2.4 ESG Stakeholder Identification Stakeholder Engagement and Due
Diligence
G2.5 Identification of Material Topics Double Materiality Analysis
G2.6 ESG-related System ESG Management Framework
G2.7 Carrying out Stakeholder Communication Stakeholder Engagement and Due
Activities Diligence
G2.8 Management Remuneration Linked to Environmental safety R&D goals linked to
ESG Performance management compensation
G2.9 Specific ESG Factors for Business Climate Change Mitigation and Adaptation
Clean Technology Opportunities
G3 Data Governance
G3.1 Basic Platform Construction Employee Health and Safety
R&D Innovation and Intellectual Property
Protection
G3.2 Data Convergence and Interoperability Production environment and procurement
data are kept in the Company’s intranet
which is physically isolated from the
extranet by setting access rights for
reasons of commercial confidentiality.G3.3 Data Governance System Not Involved目錄釋義148主要財務指標152致股東的信153公司資料155董事及高級管理層158企業管治報告168董事會報告180
2024年度環境、社會及管治報告212
獨立核數師報告293綜合損益表302綜合全面收益表303綜合財務狀況表304綜合權益變動表306綜合現金流量表308財務報表附註310
五年財務概覽412148華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司149釋義
於本年報內，除非文義另有所指，否則下列詞彙具有下文所載涵義。
「股東週年大會」本公司擬於二零二五年五月八日舉行的股東週年大會；
「細則」本公司的組織章程細則（不時修訂）；
「董事會」本公司董事會；
「國家集成電路產業基金」國家集成電路產業投資基金股份有限公司，一家於二零一四年九月二十六日在中國註冊成立的公司。公司股東包括中央財政、集成電路產業聚集區企業、大型國有企業、部份金融機構及民營企業，公司重點投向半導體晶圓製造業，兼顧芯片設計、封裝測試、設備及材料等上下游環節；
「國家集成電路產業基金II」 國家集成電路產業投資基金二期股份有限公司，一家於二零一九年十月二十二日在中國成立的公司；公司股東包括財政部、集成電路產業聚集區企業、大型國有企業、部
份金融機構及民營企業。其主要透過股權投資於集成電路產業價值鏈進行投資，其中以集成電路芯片生產及芯片設計、封裝測試以及設備及材料為主。據董事作出一切合理查詢後所深知、全悉及確信，根據上市規則第十四A章，國家集成電路產業基金II並非國家集成電路產業基金的聯繫人；
「本公司」或「華虹半導體」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；
「董事」本公司董事；148華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司149釋義
「EPS」 每股盈利；
「股東特別大會」本公司股東特別大會；
「Grace Cayman」 Grace Semiconductor Manufacturing Corporation，一家於一九九九年十月五日在開曼群島註冊成立的獲豁免有限公司，為本公司的全資子公司；
「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；
「香港聯交所」香港聯合交易所有限公司；150華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司151釋義
「華虹集團」上海華虹（集團）有限公司，一家於一九九六年四月九日在中國註冊成立為上海華虹微電子有限公司的公司，並於一九九八年更名為上海華虹（集團）有限公司，為本公司主要股東；
「華虹集團框架協議」本公司與華虹集團訂立日期為二零二三年十二月三十日之框架協議，旨在規範本集團與華虹集團、其子公司或聯營公司（定義見上市規則第十四A章）之間截至二零二四年十二月三十一日止年度的銷售及採購交易以及提供服務；
「華虹置業」上海華虹置業有限公司，一家於二零一一年十月二十八日在中國註冊成立的公司，為華虹科技發展的全資子公司；
「華虹科技發展」上海華虹科技發展有限公司，一家於二零一零年五月十日在中國註冊成立的公司，一家由華虹集團持有50%並與其合併報表及由華虹宏力持有50%的公司，為關連人士；
「華錦物業管理」上海華錦物業管理有限公司，一家於二零一二年六月八日在中國註冊成立的公司，為華虹科技發展的全資子公司，為本公司關連人士；
「華力微」上海華力微電子有限公司，一家於二零一零年一月十八日在中國註冊成立的公司，為關連人士；
「上海華力」華力微及其控股子公司；
「華虹無錫」華虹半導體（無錫）有限公司，一家於二零一七年十月十日在中國註冊成立的公司，為本公司非全資子公司，由本公司、華虹宏力、無錫錫虹國芯、國家集成電路產業基金及國家集成電路產業基金II分別持有約22.22%、28.78%、20.00%、20.58%及
8.42%；
「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註冊成立的公司，且為本公司非全資子公司，由本公司、華虹宏力、無錫錫虹聯芯及國家集成電路產業基金II分別持有約21.90%、29.10%、20.00%及29.00%；150 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 151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）；
「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」本公司於二零二三年八月七日發行407750000股人民幣股份，其在科創板上市且可供買賣；
「上海聯和」上海聯和投資有限公司，一家於一九九四年九月二十六日在中國註冊成立的公司，為本公司主要股東；
「證監會」香港證券及期貨事務監察委員會；
「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）；
「科創板」上海證券交易所科創板；
「無錫錫虹國芯」無錫錫虹國芯投資有限公司，一家於二零二三年一月十六日在中國註冊成立的公司，係由市屬及區級國企聯合控制的專業投資公司，持有本公司非全資子公司華虹無錫
20.00%股份；
「無錫錫虹聯芯」無錫錫虹聯芯投資有限公司，一家於二零一七年十二月十九日在中國註冊成立的公司，係由市屬及區級國企聯合設立的專業投資公司，持有本公司非全資子公司華虹製造20.00%股份。152 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 PB主要財務指標銷售收入毛利率
百萬美元%
30003634.1
2475.5
25002286.130
2004.0
200024
21.3
150018
10001210.2
5006
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母公司擁有人應佔溢利每股盈利百萬美元美元
5000.40449.9
0.345
0.35
400
0.30
280.00.25
300
0.189
0.20
200
0.15
0.10
100
58.1
0.050.034
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PB 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 153致股東的信
尊敬的各位股東：
對華虹半導體而言，二零二四年是充滿挑戰的一年，更是砥礪奮進的一年。全球半導體產業在經歷需求疲軟與庫存高壓的行業寒冬後，迎來溫和復甦。儘管面臨除AI及消費電子領域以外市場需求的不確定性，以及成熟製程芯片供給量增加導致的激烈競爭和價格承壓，華虹半導體憑藉在特色工藝持續深耕累積的技術優勢和客戶支持，在複雜多變的環境中仍保持了穩健發展，全年實現銷售收入20.04億美元，平均產能利用率接近滿產，整體業績表現逐季提升。
二零二四年第四季度，位於無錫的第二條12英寸產線——華虹製造項目順利投產，標誌着公司「8英寸+12英寸」戰略實現了又一個重要的里程碑。在歷時十八個月的廠房建設、潔淨室交付、設備搬入及調試驗證後，華虹製造提前建成投產並成功導入各大特色工藝平台，預計從二零二五年開始將帶動收入的穩步提升，為未來業績增長奠定堅實基礎。
作為注重新質生產力的科技企業，創新是保持領先的唯一秘訣。公司持續加大核心競爭力—工藝能力的研發投入，截至二零二四年底，公司累計獲國內外授權專利達到4644件。通過工藝平台的持續迭代進步，為客戶及生態鏈夥伴提供更優質的產品組合，也為下一步發展打下牢固的根基。在穩步推進業務拓展、產能擴張的同時，公司也不忘在行業築底期進一步提升自身運營效率。通過在銷售與市場、採購與供應鏈、生產製造、營運支持等全方位推行降本增效措施，加強成本控制，夯實公司的競爭優勢。154 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 PB致股東的信
展望二零二五年，全球半導體市場預計延續溫和回升態勢，AI應用滲透將加速手機、計算機、汽車智駕等領域的升級需求，工業與新能源等領域需求也有望逐步復甦。在新一年中，華虹半導體將堅定推進產能擴張，確保華虹製造項目按計劃進行產能爬坡；持續優化先進「特色IC + 功率器件」的工藝及產品組合，提升高價值產品佔比；深化與客戶及終端生態夥伴的戰略協同，應對中國市場供應鏈本土化所帶來的持續需求提升。面對未來，公司將以創新為引擎，以品質為基石，在行業新一輪增長週期中搶佔先機，為股東創造可持續價值，與合作夥伴共繪半導體產業的新篇章！唐均君主席兼執行董事白鵬總裁兼執行董事中國上海
二零二五年三月二十七日PB 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 155公司資料企業文化企業精神
知難而進 奮發圖強願景
持續創新，為全球客戶製造「芯」夢想使命
通過協作、創新和優秀的企業公民性，為股東、客戶和員工創造價值核心價值觀
誠信、團隊、進取、革新156華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司157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
唐均君（主席）中國香港白鵬（總裁）（於二零二五年一月一日獲委任）皇后大道中15號
張素心（於二零二四年十二月三十一日辭任）告羅士打大廈23樓非執行董事葉峻主要往來銀行孫國棟陳博（於二零二五年三月七日獲委任）中國建設銀行上海市分行
熊承艷（於二零二四年三月二十八日獲委任）中國上海市周利民（於二零二四年一月十九日獲委任，於二零二五年浦東新區三月七日辭任）陸家嘴環路900號獨立非執行董事國家開發銀行上海分行張祖同中國上海市王桂壎，太平紳士浦東新區封松林（於二零二四年三月二十八日獲委任）浦明路68號
葉龍蜚（於二零二四年三月二十八日辭任）招商銀行股份有限公司上海分行營業部公司秘書中國上海市李瑞霞浦東新區授權代表陸家嘴環路1088號唐均君李瑞霞中國建設銀行股份有限公司香港分行中國香港中環審核委員會干諾道中3號中國建設銀行大廈28樓
張祖同（主席）
熊承艷（於二零二四年三月二十八日獲委任）交通銀行股份有限公司香港分行
封松林（於二零二四年三月二十八日獲委任）中國香港中環葉峻（於二零二四年三月二十八日辭任）畢打街20號
葉龍蜚（於二零二四年三月二十八日辭任）國家開發銀行江蘇分行薪酬委員會中國江蘇省南京市王桂壎，太平紳士（主席）江東中路232號葉峻（於二零二四年三月二十八日獲委任）
封松林（於二零二四年三月二十八日獲委任）中國農業銀行無錫新吳支行
葉龍蜚（於二零二四年三月二十八日辭任）中國江蘇省無錫市新吳區和風路26號提名委員會
唐均君（主席）（於二零二四年十二月三十一日獲委任）中國建設銀行無錫高新技術產業開發區支行王桂壎，太平紳士（中國江蘇省無錫市封松林於二零二四年三月二十八日獲委任）
張素心（於二零二四年十二月三十一日辭任）新吳區和風路26號
葉龍蜚（於二零二四年三月二十八日辭任）中信銀行無錫新區支行網址中國江蘇省無錫市新吳區和風路26號
www.huahonggrace.com中國銀行無錫高新技術產業開發區支行核數師中國江蘇省無錫市新吳區旺莊路140號安永會計師事務所交通銀行股份有限公司無錫分行執業會計師中國香港中國江蘇省無錫市鰂魚涌英皇道979號濱湖區金融二街8號
太古坊一座27樓156華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司157公司資料股份過戶登記處
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股份代號
香港聯交所：01347
上交所：688347158華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司159董事及高級管理層
唐均君先生，60歲，於二零一九年五月一日起獲委任為本公司總裁兼執行董事，後於二零二四年十二月三十一日起轉任為本公司主席兼執行董事。唐先生亦為華虹宏力、華虹無錫、華虹製造董事長。唐先生擁有豐富的集成電路行業資歷與管理經驗，和極強的協調能力與執行力。在加入本公司之前，唐先生自二零一零年二月至二零一九年三月擔任華力微黨委書記、副總裁及執行副總裁，自二零一六年八月至二零一九年三月兼任上海華力總裁。二零零八年七月至二零一零年二月期間，擔任上海華虹NEC電子有限公司黨委副書記、工會主席兼行政與政府關係總監。此前，唐先生歷任上海儀表電訊工業局副主任科員、上海無線電十七廠技術員、上海半導體器件四廠技術員等職。唐先生於西南交通大學工商管理專業本科畢業，後畢業於中歐國際工商學院，獲工商管理碩士學位；正高級經濟師職稱；全國五一勞動獎章、全國勞模、全國優秀黨務工作者榮譽獲得者。
白鵬博士，62歲，於二零二五年一月一日起獲委任為本公司總裁兼執行董事。白先生亦為華虹宏力、華虹無錫、華虹製造總裁及董事。白先生在集成電路製造領域擁有逾30年經驗。在加入本公司之前，白先生自二零二二年起擔任榮芯半導體有限公司首席執行官。在此之前，他曾先後擔任英特爾公司工藝整合工程師、工藝整合經理、良率工程總監、研發總監兼副總裁以及公司副總裁。白先生曾就讀於北京大學，後於一九八五年畢業與布加勒斯特大學，獲得物理學學士學位，並於一九九一年獲得倫斯勒理工學院物理學博士學位。158華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司159董事及高級管理層
葉峻先生，52歲，自二零一二年二月起為本公司非執行董事及華虹宏力董事。葉先生於金融投資領域擁有二十多年經驗。自一九九六年起，葉先生歷任上海聯和投資銀行部經理、業務發展部經理、總經理助理、副總經理及總經理等職位，並於二零二五年三月起擔任上海聯和董事長。葉先生亦為上海銀行的董事，上海兆芯集成電路股份有限公司、上海宣泰醫藥科技股份有限公司及中美聯泰大都會人
壽保險有限公司的董事長。葉先生畢業於上海交通大學，獲工業外貿學士及工商管理碩士學位。
孫國棟先生，47歲，自二零二零年十二月十日起獲委任為本公司非執行董事。孫先生亦為華虹無錫、華虹製造董事。孫先生於二零零零年加入國家開發銀行，二零零零年至二零一四年，孫先生在國家開發銀行擔任多項職務，包括人事局系統幹部處副處長、湖北省分行人事處副處長及處長等。二零一四年十二月至二零一六年七月擔任華芯投資管理有限責任公司的人力資源部總經理，二零一六年七月起至今擔任華芯投資管理有限責任公司的總監，二零二四年五月起至今擔任華芯投資管理有限公司上海分公司總經理。孫先生畢業於中國北京理工大學，獲得計算機應用學士學位，並畢業於中國中央財經大學，獲得工商管理碩士學位。160華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司161董事及高級管理層
陳博先生，48歲，於二零二五年三月七日獲委任為本公司非執行董事。陳先生亦為華虹宏力、華虹無錫、華虹製造董事。陳先生現任上海華虹（集團）有限公司副總裁、上海華虹虹日電子有限公司董事長。陳先生擁有豐富的高新技術產業戰略發展和固定資產投資經驗。加入本公司之前，陳先生於二零零一年至二零二三年期間曾任上海市發展和改革委員會副主任科員、主任科員、處長助理、副處
長、處長、一級調研員等職務。陳先生畢業於復旦大學，獲理學碩士學位。
熊承艷女士，45歲，於二零二四年三月二十八日獲委任為本公司非執行董事。
熊女士於金融及會計領域擁有近二十年工作經驗。於加入本公司之前，熊女士曾任上海市國有資產監督管理委員會預算處副主任科員、主任科員，之後於華虹集團旗下公司擔任多個部門副主管及部門主管職位。熊女士現為華虹集團資金財務部總監，並於華虹集團多間子公司擔任董事或監事職務。熊女士畢業於上海財經大學，獲管理學碩士學位。熊女士亦為高級會計師及中國註冊會計師（非執業）。160華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司161董事及高級管理層
張素心先生，於二零二四年十二月三十一日辭任本公司主席、執行董事及提名委員會主席。
周利民先生，於二零二五年三月七日辭任本公司非執行董事。162華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司163董事及高級管理層
張祖同先生，76歲，為本公司獨立非執行董事及華虹宏力董事。張先生曾為香港執業會計師，並自一九七八年至二零零三年底為香港會計師公會會員，自一九八三年一月起為英格蘭及威爾士特許會計師公會資深會員，在會計、核數及財務管理方面具有豐富經驗。張先生自一九七六年起於安永會計師事務所擔任多個職位，並於一九八九年成為安永會計師事務所管理委員會成員。他積極參與制定和監督公司內部控制和風險管理政策和程序。他亦曾擔任安永審計和諮詢業務服務的主席四年。之後，他被晉升為專業服務部門的管理合夥人。於二零零三年退休前，張先生為安永會計師事務所合夥人暨中國及香港區主席。張先生為上海復旦大學教育發展基金會及復旦大學教育發展基金會（海外）投資委員會成員。張先生亦為中國國際貿易中心股份有限公司（股票代碼：600007.SH）的獨立非執行董事。張先生曾任中國信達資產管理股份有限公司（股票代碼：1359.HK）、嘉里建設有限公司（股票代碼：683.HK）以及中國人壽保險股份有限公司（股票代碼：2628.HK）的獨立非執行董事。張先生畢業於倫敦大學，獲食品科學及化學理學學士學位。
王桂壎先生，73歲，銀紫荊星章、銅紫荊星章獲得者，太平紳士，為本公司獨立非執行董事及華虹宏力董事。王先生曾於兩所國際律師事務所擔任中國主理合夥人達十五年。在此之前，王先生曾任職於香港特區政府的地政總署、律政司及立法會共達十年。王先生於二零一一年至二零一八年間分別獲委任為香港機場管理局、醫院管理局及競爭事務委員會的成員。王先生為前任香港國際仲裁中心主席，香港律師會及環太平洋律師協會前會長，以及香港版權審裁處前主席。王先生現時為香港稅務上訴委員會主席，維達國際控股有限公司（股票代碼：3331.HK）、新創建集團有限公司（股票代碼：659.HK）的獨立非執行董事；王桂壎先生曾任香港按揭證券有限公司董事及中海油田服務股份有限公司的獨立非執行董事；並於香港大學、香港中文大學、香港城市大學、香港浸會大學及香港樹仁大
學擔任名譽講師、校外評核委員、諮議委員及教授。王先生持有香港中文大學文學學士學位及倫敦大學法律學士學位。162華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司163董事及高級管理層
封松林先生，60歲，自二零二四年三月二十八日起擔任本公司的獨立非執行董事及華虹宏力董事。彼於集成電路及半導體等科學技術領域擁有超過32年的學術研究經驗。彼於一九九二年二月至二零零零年十二月歷任中國科學院半導體研究所副研究員、研究員、副主任、主任、所長助理及所長。二零零一年一月至二零一零年八月，彼歷任中國科學院上海微系統與信息技術研究所研究員、副所長及所長。二零零九年三月至二零一七年五月，彼歷任中國科學院上海高等研究院研究員、籌備工作組組長及院長，其後擔任該院研究員，於二零二四年五月退休。封先生為雲賽智聯股份有限公司（一間於上海證券交易所上市的公司（股票代碼：600602））及上海兆芯集成電路股份有限公司的獨立董事。此外，封先生為上海中研宏瓴信息科技有限公司、嘉興中科無線傳感網科技有限公司及上海增
維安信科技發展有限公司的董事。封先生畢業於武漢大學，獲得半導體物理系學士學位，並在巴黎第七大學獲得碩士及博士學位。
葉龍蜚先生，於二零二四年三月二十八日辭任本公司獨立非執行董事、審核委員會、提名委員會及薪酬委員會成員。164華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司165董事及高級管理層
王鼎先生，62歲，於二零一二年二月起獲委任為公司董事會秘書。王先生亦擔任本公司、華虹宏力、華虹無錫及華虹製造的執行副總裁，負責財務、資訊技術、行政與合規、董辦及外籍人事。王先生於二零零一年四月加入上海宏力半導體製造有限公司，並在其成長發展的各個階段起到了核心領導作用。他的職責包括主導合併的籌備與實施，以及本公司成功在香港聯合證券交易所和上海證券交易所科創板上市。在加入上海宏力半導體製造有限公司之前，王先生於一九九五年八月至二零零一年三月在美國加利福尼亞矽谷聖荷西的LSI Logic Corporation
擔任寬帶娛樂部的部門總監。於加入LSI Logic Corporation之前，王先生任職於美國Franklin Templeton Investments。王先生畢業於美國加州大學伯克利分校工程學院，獲工業工程及營運研究學士學位；後於美國舊金山大學獲工商管理碩士學位，主修財務及銀行專業。王先生在國際權威財經雜誌Institutional Investor《機構投資者》所發佈的「亞洲（除日本外）執行團隊榜單」中多次榮獲科技╱半導
體行業最佳首席財務官。164華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司165董事及高級管理層高級管理層
截至本報告日期的高級管理層成員列示如下：
唐均君先生，60歲，為本公司主席兼執行董事。有關唐先生履歷及學術背景的更多資料，請參閱「董事及高級管理層－董事會」一節。
白鵬博士，62歲，為本公司總裁兼執行董事。有關白先生履歷及學術背景的更多資料，請參閱「董事及高級管理層－董事會」一節。
周衛平先生，57歲，為本公司、華虹宏力、華虹無錫及華虹製造執行副總裁，負責市場銷售，在中國集成電路行業有超過35年的工作經驗。周先生於二零一八年初加入本公司。此前，周先生曾任上海貝嶺股份有限公司執行副總裁；寧波杉杉尤利卡太陽能科技發展有限公司總經理；上海貝嶺微電子製造有限公司總經理；上海先進半導體製造股份有限公司黨委副書記、總裁、首席執行官，黨委書記、副總裁等職務。周先生畢業於華東師範大學，獲固態電子技術專業學士學位；後於復旦大學獲工商管理碩士學位；教授級高級工程師職稱。166華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司167董事及高級管理層
王鼎先生，62歲，為本公司、華虹宏力、華虹無錫及華虹製造執行副總裁，負責財務、信息科技、行政與合規、董辦及外籍人事。有關王先生履歷及學術背景的更多資料，請參閱「董事及高級管理層－董事會」一節。
華光平先生，57歲，為本公司、華虹宏力、華虹無錫及華虹製造執行副總裁，負責技術研發與設計服務工作。華先生擁有進30年半導體行業經驗。此前，先後效力於清華大學微電子所、新加坡特許半導體製造有限公司、上海先進半導體製
造股份有限公司、上海華虹NEC電子有限公司。華先生畢業於清華大學，獲微電子工學碩士學位；助理研究員職稱。166華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司167董事及高級管理層公司秘書
李瑞霞女士，47歲，自二零一九年十一月起擔任本公司公司秘書。李女士目前為君合律師事務所合夥人。彼於一般收購合併及企業融資交易領域上（如協助企業股份於香港聯交所上市、併購、資本重組及香港聯交所上市規則相關合規及監管事務）擁有約16年的經驗。李女士於二零零五年取得香港高等法院律師資格。
李女士畢業於香港城市大學，獲法學學士學位，後於英國倫敦大學學院取得法學碩士學位。168華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司169企業管治報告董事會欣然匯報截至二零二四年十二月三十一日止年度的企業管治報告。
企業管治常規本公司致力於提倡良好企業管治，並已就企業管治制定程序，該等程序符合上市規則附錄C1所載的企業管治守則（「該守則」）。
本公司深諳完善的企業管治常規的重要性，並認識到監管環境的變化多端。因此，從實行守則及評估其常規的有效性到回應監管環境的持續發展，本公司持續監控及更新其企業管治常規。
遵守守則條文
截至二零二四年十二月三十一日止年度，本公司一直遵守該守則。
董事的證券交易
本公司已採納上市規則附錄C3所載的上市發行人董事進行證券交易的標準守則（「標準守則」）作為本公司關於董事進行證券交易的守則。本公司已向所有董事作特定查詢，每位董事均已確認其於截至二零二四年十二月三十一日止年度全年遵守當中所載的必守標準。
董事會
董事會總體上負責本公司的業務及事務管理，並對轉授予主席及管理層負責的本公司日常管理承擔最終責任。
董事會現時共有九名董事，當中包括兩名執行董事唐均君先生（主席）（於二零二四年十二月三十一日獲委任為主席）及白鵬博士（總裁）（於二零二五年一月一日獲委任），四名非執行董事葉峻先生、孫國棟先生、陳博先生（於二零二五年三月七日獲委任）及熊承艷女士（於二零二四年三月二十八日獲委任）以及三名獨立非執行董事張祖同先生、王桂壎先生，太平紳士及封松林先生（於二零二四年三月二十八日獲委任）。張素心先生、周利民先生及葉龍蜚先生分別於二零二四年十二月三十一日、二零二五年三月七日及二零二四年三月二十八日辭任執行董事、非執行董事及獨立非執行董事。有關各董事的更多詳情在本年度報告第158頁披露。本公司已於本公司網頁及香港聯交所網頁刊載經更新的董事名單，列明其角色和職能。
本公司各非執行董事皆以三年的特定任期委任，除非根據相關委任書或董事服務合約上的條款及條件被終止委任，彼等須於股東大會上接受本公司重新提名及重選。168華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司169企業管治報告
於本年度，董事會定期舉行會議。全體董事皆有機會提出商討事項列入董事會定期會議議程。全體董事皆可直接接觸公司秘書，確保董事會議事程序及規則及規例均獲得遵守。董事會會議的完整會議記錄由公司秘書保管，並應在獲得合理通知時，公開有關會議記錄以供查閱。如有需要，各董事可尋求獨立專業意見以履行其責任，費用由本公司支付。
董事會負責制定本集團的策略性方向及政策，並監督管理層。董事會保留的部份職能包括（但不限於）監察及批准重大交易、涉及本公司主要股東或董事利益衝突的事宜、批准季度、中期及全年業績、向公眾或監管機構進行其他披露及內部監控系統，另與前述事項相關的決定亦須由董事會決定。董事會並無具體保留、本公司日常運作所需的事宜則轉授予管理層，管理層由相應董事監督並由主席領導。
本公司已實施多項機制，確保董事會可獲得獨立的觀點和意見：
* 董事會的組成：截至二零二四年十二月三十一日止年度，董事會無論何時均遵守上市規則第3.10及3.10A條。本公司有三名獨立非執行董事，佔董事會成員三分之一以上。至少一名獨立非執行董事具備適當專業資格或具備適當的會計或相關財務管理專長。
*獨立性評估：各獨立非執行董事已根據上市規則第3.13條作出年度獨立性確認書。本公司認為，全體獨立非執行董事根據上市規則第3.13條所載指引屬獨立人士。
*董事會決策：倘董事於任何交易、合約或安排中擁有重大權益，則其不可就通過相同事宜的任何董事會決議進行表決，亦不應被計入法定人數。倘主要股東或董事於董事會審議的事宜中擁有利益衝突，且董事會已確定該利益衝突屬重大時，應召開董事會會議而非通過書面決議處理該事宜。
*主席與獨立非執行董事之間的溝通：董事會主席高度重視與獨立非執行董事之間的溝通，每年至少與其舉行一次沒有其他董事出席的會議。
*獨立非執行董事的薪酬：獨立非執行董事就其董事會及董事會委員會成員的職位收取固定費用。不授予獨立非執行董事與業績掛鈎的股權報酬，以避免其決策時出現潛在偏見或損害其客觀性及獨立性。
*董事會評估：董事會評估及審議各獨立非執行董事投入的時間以及董事會及董事會委員會會議參與情況，以確保每名獨立非執行董事於董事會投入足夠時間，履行其作為本公司董事的職責。
每年會對上述機制的執行情況及有效性進行審閱。董事會認為，該等機制於截至二零二四年十二月三十一日止年度得到妥善有效執行。170華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司171企業管治報告
主席與總裁的角色已予區分。主席負責本公司整體管理及運營，並建議及檢討本公司的企業方向及策略。主席負責制定商業策略，領導董事會，確保董事會有效地運作，包括董事會及時就所有適當事項進行討論。主席確保董事會會議所審議的事項均已向所有董事妥善簡報，而全體董事所收到的資訊亦充分、完備及可靠。董事會主席高度重視與獨立非執行董事的溝通，並在沒有其他董事出席的情況下每年與其舉行至少一次會議。
總裁負責本公司的業務與營運的日常管理並實施本公司的業務策略。
董事和高級人員的責任保險
本公司已為本公司及其子公司的全體董事和高級人員安排適當的保險，以就因本公司的企業行動而可能面對的法律訴訟給予保障。
董事會的運作
截至二零二四年十二月三十一日止年度，董事會曾舉行6次董事會會議。董事會各成員出席董事會會議、審核委員會會議、提名委員會會議及薪酬委員會會議以及股東週年╱特別大會的記錄如下：
董事會會議審核委員會會議提名委員會會議薪酬委員會會議股東週年大會股東特別大會執行董事
張素心（附註）6不適用3不適用1不適用
唐均君（附註）6不適用0不適用1不適用白鵬（附註）––––––非執行董事葉峻62不適用11不適用孫國棟6不適用不適用不適用1不適用
周利民（附註）6不適用不適用不適用1不適用
熊承艷（附註）44不適用不適用1不適用陳博（附註）––––––獨立非執行董事張祖同66不適用不適用1不適用王桂壎，太平紳士6不適用331不適用封松林（附註）44111不適用
葉龍蜚（附註）2222–不適用
附註：白鵬於二零二五年一月一日起獲委任為總裁兼執行董事，陳博於二零二五年三月七日起獲委任為非執行董事，熊承艷於二零二四年三月二十八日起獲委任為非執行董事及審核委員會成員，封松林於二零二四年三月二十八日起獲委任為獨立非執行董事、審核委員會成員、提名委員會成員及薪酬委員會成員。白鵬、陳博、熊承艷及封松林均已獲得上市規則第3.09D條所述的法律意見，而彼等各自已確認彼等了解其作為上市發行人董事的責任。
唐均君於二零二四年十二月三十一日起獲委任為主席兼執行董事及提名委員會成員，張素心於二零二四年十二月三十一日起辭任執行董事、主席及提名委員會主席，周利民於二零二五年三月七日起辭任非執行董事，葉龍蜚於二零二四年三月二十八日起辭任獨立非執行董事、審核委員會成員、提名委員會成員及薪酬委員會成員。170華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司171企業管治報告
董事會亦傳閱書面決議案，取得董事會相關成員批准，以代替有形的會議。惟若有主要股東或董事在事項中存有董事會認為重大的利益衝突，有關事項則以舉行董事會會議（而非書面決議案）方式處理，以遵守該守則第C.5.7條。
董事會認為各董事的出席記錄令人滿意，每位董事皆付出足夠時間來履行其董事職責。
持續專業發展
董事應跟進其作為本公司董事的責任，並跟進本公司的行為、業務活動及發展。
根據守則條文第C.1.4條，董事應參與適當的持續專業發展計劃，以建立並更新其知識及技能，確保其對董事會的貢獻是有根據及相關。截至二零二四年十二月三十一日止年度，全體董事獲及時提供有關本公司表現、財務狀況、前景的最新資料以及適用於本集團的法律及法規新的或顯著變化的材料，以便董事會整體及各董事單獨履行其職責。各董事將於下一個財政年度獲安排參與內部舉辦的簡報會，以及在適當時間獲發放相關議題的閱讀資料。本公司鼓勵所有董事參與相關培訓課程，課程費用由本公司負責。
截至二零二四年十二月三十一日止年度及本報告日期，各董事所參與之持續專業發展載列如下：
閱讀有關規則及相關
董事姓名材料及╱或出席培訓
唐均君（主席）?白鵬（總裁）?
葉峻?
孫國棟?
陳博?
熊承艷?
張祖同?王桂壎，太平紳士?封松林?
張素心?
周利民?
葉龍蜚?172華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司173企業管治報告薪酬委員會
薪酬委員會現時成員包括三名獨立非執行董事王桂壎先生，太平紳士、封松林先生（於二零二四年三月二十八日獲委任）及一名非執行董事葉峻先生（於二零二四年三月二十八日獲委任）。葉龍蜚先生於二零二四年三月二十八日辭任薪酬委員會成員。薪酬委員會主席為王桂壎先生，太平紳士。各成員在釐定公眾公司行政人員薪酬上經驗豐富，並具備適當之技能。董事會認為，委員會成員於處理委員會事務時均能作出獨立判斷。薪酬委員會的角色及功能包括為所有執行董事及高級管理層制定特定薪酬待遇，包括實物利益、退休金權利及報酬，並就非執行董事的薪酬待遇，向董事會提出建議。薪酬委員會應考慮同類公司支付的薪酬及集團內其他職位的僱用條件等因素，以及與工作表現掛鈎的薪酬安排的可取性。薪酬委員會已在本公司網站及香港聯交所網站上公開其職權範圍。薪酬委員會每年最少須舉行一次會議。
截至二零二四年十二月三十一日止年度，薪酬委員會召開了三次會議，討論了根據本公司購股權計劃已授出的若干購股權的歸屬情況，並決議通過了向董事會提交有關該等購股權的歸屬安排建議，及各位新任董事會成員的薪酬方案。
各董事的薪酬詳情已列於財務報表附註8。
提名委員會
提名委員會現時成員包括一名執行董事唐均君先生（於二零二四年十二月三十一日獲委任）及兩名獨立非執行董事王桂壎先生，太平紳士及封松林先生（於二零二四年三月二十八日獲委任）。張素心先生於二零二四年十二月三十一日，葉龍蜚先生於二零二四年三月二十八日辭任提名委員會成員。提名委員會主席為唐均君先生。各成員在釐定董事會董事提名上經驗豐富，並具備適當之技能。本公司已為提名委員會提供充足資源以履行其職責。提名委員會或會尋求獨立專業意見以履行其職責，費用由本公司承擔。提名委員會的角色及功能包括檢討董事會的架構、人數及組成，並就任何為補足本公司的公司策略而擬對董事會作出的任何建議變動提出建議；並遵從董事會成員多元化政策，物色具備合適資格可擔任董事的人士，並挑選提名董事人選或就此向董事會提供意見；評估獨立非執行董事的獨立性；就董事委任或重新委任以及董事（尤其是主席及總裁）繼任計劃向董事會提出建議，並監察落實董事會成員多元化政策的情況及適當檢討有關政策，以確保政策有效。提名委員會已書面訂明提名委員會的具體職權範圍，清楚說明其職權和責任。提名委員會已在本公司網站及香港聯交所網站上公開其職權範圍。提名委員會每年最少須舉行一次會議。
截至二零二四年十二月三十一日止年度，提名委員會召開了三次會議，向董事會推薦各位新董事委任，討論了本公司的薪酬政策及本公司薪酬水平的競爭力等議題。
根據本公司的細則，任何獲委任為董事以填補董事會臨時空缺的人士應留任至本公司下次股東週年大會為止，屆時將符合資格於相關股東大會上膺選連任，而任何獲委任為現有董事會新增成員的董事則應留任至本公司下屆股東週年大會為止，屆時將符合資格於相關股東大會上膺選連任。各董事最少每三年輪席退任一次，屆時應按細則規定膺選連任。細則亦允許以普通決議案罷免董事。172華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司173企業管治報告審核委員會
審核委員會中，最少一名成員具備上市規則所要求的適當專業資格，或具備適當的會計或相關的財務管理專長。審核委員會並無成員於緊接各自委任日期前一年內擔任本公司現任外聘核數師的前任合夥人。所有成員皆具備適當的能力和經驗去審閱財務報表，以及解決本公司的重大監控及財務問題。董事會期望審核委員會成員能作出獨立判斷，並將企業管治功能的責任轉授予審核委員會，以遵守該守則的要求。
審核委員會現時成員包括一名非執行董事熊承艷女士（於二零二四年三月二十八日獲委任）及兩名獨立非執行董事張祖同先
生及封松林先生（於二零二四年三月二十八日獲委任）。葉龍蜚先生於二零二四年三月二十八日辭任審核委員會成員。葉峻先生於二零二四年三月二十八日調任薪酬委員會成員後不再為審核委員會成員。審核委員會主席為張祖同先生。審核委員會的主要職責包括檢討本公司的財務報告系統、審計的性質及範疇，以及內部監控與風險管理系統是否有效。審核委員會同時負責就外聘核數師的委任、重新委任及罷免提供建議，以及檢討及監察外聘核數師是否獨立客觀。另外，審核委員會會就任何因外聘核數師及監管機構所引起的事宜進行討論，以確保適當的建議已予落實。審核委員會已在本公司網站及香港聯交所網站上公開其職權範圍。審核委員會每年最少須舉行兩次會議。
截至二零二四年十二月三十一日止年度，審核委員會已舉行六次會議，成員均出席會議。審核委員會於截至二零二四年十二月三十一日止年度進行的主要工作包括檢討及建議續聘外聘核數師、批准外聘核數師的聘用條款（包括薪酬）及審核計
劃、審查未經審核季度業績公告、審查截至二零二四年六月三十日止六個月的未經審核中期報告及中期業績公告、審查截
至二零二四年十二月三十一日止年度的經審核財務報表及末期業績公告、檢討本集團審計部門的工作及評估本集團風險管
理及內部控制系統的有效性。審核委員會亦與管理層進行討論，以確保本公司會計及財務匯報職能方面之資源、員工資歷及經驗、培訓課程及預算之足夠性。
核數師的薪酬
截至二零二四年十二月三十一日止年度，就向本公司提供的核數服務及與核數無關的服務已付或應付本公司核數師安永會計師事務所的薪酬分別為73萬美元及1萬美元。與核數無關的服務主要包括稅務諮詢和風險管理諮詢服務。174華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司175企業管治報告董事會成員多元化
董事會採納董事會成員多元化政策（該「政策」），以遵守上市規則第13.92條。
本公司視董事會層面日益多元化為維持其競爭優勢的關鍵元素。本公司在設定董事會成員組合時，將從多個方面考慮董事會成員多元化，包括但不限於天賦、技能、地區及行業經驗、背景、性別、年齡及董事會成員的其他素質，令董事會上各種天賦、技能、經驗及背景維持適當的範疇及平衡。向董事會建議選擇董事候選人時，提名委員會將按照客觀標準考慮候選人的功績，並充分顧及董事會成員在多元化方面的益處。提名委員會就達致董事會成員多元化的可計量目標，作出討論及達成一致，並向董事會作出建議，由董事會採用。在任何特定時間，董事會可在一個或多個方面改善其多元化，並相應檢討其進展。
董事會認為性別多元化屬董事會多元化的重要元素。在王靖女士於二零二三年九月一日呈辭後，本公司當時並無不同性別的董事，因此於截至二零二四年三月二十八日委任熊承艷女士為非執行董事前，本公司未能滿足上市規則第13.92條所載列規定。委任熊承艷女士為非執行董事後，本公司符合上市規則第13.92條的規定。除性別多元化外，於截至二零二四年十二月三十一日止年度，薪酬委員會認為在相當程度上已達致董事會成員多元化的可計量目標。提名委員會專注董事會成員文化及教育背景、專業及技能專長以及本領，並審閱執行董事及獨立非執行董事之組成，以確保董事會內適當之獨立性。
本公司將繼續在適合併有利於本公司發展的董事會多元化範疇保持平衡性。
員工多元化
於二零二四年十二月三十一日，本集團員工（包括本公司高級管理層）的男女性別比例約為74%：26%。本公司以用人唯才及非歧視為原則進行招聘。董事會信納，本公司的員工已滿足性別多元化。
企業管治職能
董事會負責執行該守則內第A.2.1條所列明的職能。
董事會已檢討本公司的企業管治政策及常規、董事及高級管理人員的培訓及持續專業發展、本公司在遵守法律和監管規定
方面的政策及常規、遵守標準守則、以及本公司遵守該守則的情況及在企業管治報告內的披露。174華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司175企業管治報告投資者關係股東通訊政策
本公司已採納股東通訊政策，該政策需每年進行檢討，以確保其執行情況及有效性。該政策旨在確保股東能夠平等及時地獲取有關本公司的資料，以使股東能夠以知情方式行使其權利，同時積極參與本公司事務。
本公司股東通訊政策的概要載列如下。
本公司透過其向香港聯交所及上海證券交易所提交發佈的財務報告（包括季度、中期及年度報告）、通函、公告等披露資料向股東提供資料。
為進一步推動有效之溝通，本公司設有網站 www.huahonggrace.com 以刊登本公司業務發展及營運的最新資訊、董事名單及其角色與職能、組織章程文件、董事會及其轄下委員會的職權範圍、提名董事候選人的程序、企業管治常規、財務報
告、通函、公告，以及其他資訊。
股東大會是董事會與股東之間的主要溝通渠道。本公司鼓勵股東出席及參與股東大會，以確保高問責水平，以及使其保持對本公司的目標及策略的了解。董事會主席、其他董事會成員及各董事會委員會主席（若主席未能出席，則由委員會其他成員出席）將在場為股東解答任何問題。股東會獲提供大會的充分通知，且載有詳細表決程序的通函將連同大會通告一起寄發予股東。
除上述外，本公司亦透過其微信公眾號發佈通訊。股東可訂閱該帳號以獲取本公司最新資訊。
為促進投資者對本公司業務的了解，本公司為投資者組織路演及現場參觀無塵室及展覽廳。本公司亦參加大量投資論壇並通過各種方式與證券分析師、基金管理公司及個人投資者進行多次交流。
為使本公司徵詢及了解股東及利益相關者的意見，股東及利益相關者可透過投資者關係聯繫人（郵箱： IR@hhgrace.com ）向本公司提出問詢。
截至二零二四年十二月三十一日止年度，本公司已對其股東通訊政策的執行情況及有效性進行審閱，包括於股東大會採取的行動、對所接收問詢的處理以及現有的多種溝通渠道。本公司認為該項政策具有有效性且已妥善實施。176華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司177企業管治報告公司秘書
公司秘書李瑞霞女士向董事會負責，以確保董事會程序獲得遵守，董事會活動亦獲有效率地進行。她亦負責確保董事會已全面評估與本公司有關的相應法律、法規及企業管治發展，協助董事的入職及專業發展。
公司秘書向董事會主席及總裁匯報，在本公司與其股東的關係中擔當重要角色，協助董事會向股東履行其責任，以遵守上市規則。
截至二零二四年十二月三十一日止年度期間，李瑞霞女士已出席相關專業講座以更新其技能及知識，並遵守上市規則第
3.29條的規定。
股東召開股東特別大會的程序
一名或多名持有本公司繳足股本不少於二十分之一的股東可請求董事，或根據香港法例第622章公司條例（「公司條例」）第566至568條提出請求的股東（「請求方」）（視情況而定）可提出召開股東特別大會的請求。請求書須列明召開大會的目的，
由請求方簽署，並送至本公司的註冊辦事處。股東召開股東特別大會時須遵守公司條例第580至583條所列明的要求及程序。
於股東大會上提出要求及將股東查詢轉達董事會的程序
股東可於任何時間以書面形式向本公司提出其要求、計劃、查詢及想法，信件抬頭請註明董事會主席或公司秘書，其聯絡地址為：
中國上海張江高科技園區哈雷路288號，郵編：201203電話：(86)2138829909
傳真：(86)2150809999
電子郵箱：IR@ hhgrace.com176 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 177企業管治報告以投票方式表決
根據上市規則第13.39(4)條，股東於股東大會上的任何表決均須以投票方式進行。
風險管理和內部監控風險管理及內部監控目標風險管理目標
在合規層面上，本公司依據香港聯交所的《公司管治守則》執行，確保適時符合有關規定。
在營運層面上，本公司管理層深知公司未來發展過程中所面臨的風險。因此，本公司的風險管理目標是要識別、評估這些風險，並採取降低、轉移、規避或接受等風險應對策略管理這些風險。本公司持續開展風險監控體系建設，搭建風險管理險監平台，明確風險管理機制，完善風險地圖，實行年度風險評估，形成滿足該守則監管要求的，符合公司實際情況的簡潔、科學、務實、高效的風險管控模式。
內部控制體系目標
本公司內部控制體系充分吸收COSO（反虛假財務報告委員會的發起人組織委員會）的風險管理框架要求和香港會計師公會
關於風險管理的指南，兼顧本公司實際情況和業務特點，將公司風險地圖的三級風險細化下沉到流程層面，形成風險導向的內部控制評價體系，目標是評價內部監控系統的有效性和適用性，為確保本公司經營活動的有效性、其財務報告的可靠性和法律法規的遵循性提供合理保證。178華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司179企業管治報告風險管理及內部監控體系
為保障風險管理工作有效開展並形成長效機制，本公司已建立風險管理「三線模型」的監控體系。它包含下列多個不同層面的角色和責任：
第一線業務部門
*建立與維護本部門風險管理的各項機制；
*於日常工作中持續收集風險原始信息；
*持續開展本部門風險監控與預警工作；
*協助落實公司風險管理工作，包括提供必要的資料與樣本，確定與本部門相關的重大風險，並確定重大風險應對措施；
第二線業務監督管理部門
*提供補充專業性知識，發揮支持和監督作用，幫助持續實施、改善風險管理工作；對風險管理的準確性和有效性進行分析和報告；
第三線內部審計條線
*對各業務部門和風險管理條線的風險管理工作開展情況進行獨立的監督檢查，評價公司風險管理機制是否有效落實；
*開展年度全面風險評估工作，基於風險評估結果，界定重大風險應對責任主體，組織並指導相關部門制定重大風險應對方案，並對方案的實施進行跟蹤；
*對於審計及風險評估過程中的發現點，督促相關部門或機構進行整改，並持續跟蹤整改情況；
*向公司審核委員會匯報各項審計及風險評估結果。178華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司179企業管治報告風險管理及內部監控聲明
董事會負責本公司的風險管理及內部監控系統，以及確保檢討該系統的有效性。董事會已指派內部審計部門執行內部審計職能，並充分保證其權威性及獨立性。內部審計師已根據經批准的檢查範圍及按企業管治守則內守則條文D.2條款規定，每年通過各審計項目對本公司風險管理及內部監控系統的有效程度進行檢查，並無出現重大缺失。
根據內部審計部門的工作成果，本公司董事會認為，本公司的風險管理及內部監控系統充分、令人信任且有效地運作。但我們也必須承認，公司的風險管理和內部監控架構旨在管理、而非完全消除影響本公司達致業務目標能力的風險，僅可對重大錯誤的陳述或損失提供合理而非絕對的保證。
為根據證券及期貨條例識別、處理及傳播內幕消息，本集團已實施若干程序，包括管理層指定人員進行本公司證券交易須獲得事先批准、告知相關董事及僱員常規禁售期及證券交易限制、通過代號識別項目以及按既定目的及按須知基準傳播信息，以防範本集團內部可能出現的內幕消息處理失誤。
一般資料
董事負責編製本公司每個財政期間的財務報表，使這些財務報表能真實和公平地反映本公司的業務狀況，並符合法定要求及適用會計準則。在編製截至二零二四年十二月三十一日止年度的財務報表時，董事已挑選並貫徹地應用適當的會計政策、作出審慎、公平及合理的判斷及估計，並按持續經營基準編製財務報表。
核數師的財政申報責任聲明載於本年度報告中第299至301頁的獨立核數師報告內。
代表董事會唐均君先生
主席180華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司181董事會報告董事會謹提呈本公司二零二四年年度報告和二零二四年一月一日至二零二四年十二月三十一日經審核的財務報表（「財務報表」）。
主要業務
截止二零二四年底，華虹半導體是一家兼具8英寸與12英寸的純晶圓代工企業，長期專注於開發與應用嵌入式╱獨立式非易失性存儲器、功率器件、模擬及電源管理和邏輯及射頻等先進「特色IC + Power Discrete」工藝技術，為客戶提供多元化的特色工藝晶圓製造服務。華虹半導體主要子公司的業務說明請參考財務報表附註1（第310至311頁）。
業務回顧營收分析
華虹半導體二零二四年度銷售收入約為20.04億美元，較上一年度下降12.3%，全年營收呈現價降量升的局面。在AI領域快速發展及部分消費電子市場逐步回暖的敺動下，全球半導體市場保持溫和增長的態勢。但受國內供給端產能釋放影響，晶圓代工市場競爭日趨激烈，價格承壓。儘管如此，基於對市場長期增長和國內半導體市場本土化替代趨勢的判斷與信心，公司「8英寸+12英寸」戰略取得階段性成績，華虹製造項目已順利建成並投產。同時，依託長期的技術積累與積極的銷售策略，公司全年平均產能利用率接近100%，在全球主要晶圓代工企業中保持領先水平。
按服務劃分營業收入二零二四年二零二四年二零二三年二零二三年同比變化同比變化
千美元%千美元%千美元%
半導體晶圓190092994.9%218159195.4%(280662)(12.9)%
其他1030645.1%1045224.6%(1458)(1.4)%
合計2003993100.0%2286113100.0%(282120)(12.3)%
*二零二四年，公司94.9%的營業收入來自半導體晶圓的銷售收入。
按客戶類型劃分營業收入二零二四年二零二四年二零二三年二零二三年同比變化同比變化
千美元%千美元%千美元%
系統公司和無廠晶片設計公司191900095.8%210948292.3%(190482)(9.0)%
整合器件製造商(IDMs) 84993 4.2% 176631 7.7% (91638) (51.9)%
合計2003993100.0%2286113100.0%(282120)(12.3)%
*公司來自系統公司和無廠晶片設計公司客戶類型的營業收入佔比95.8%。180華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司181董事會報告按區域劃分營業收入二零二四年二零二四年二零二三年二零二三年同比變化同比變化
千美元%千美元%千美元%
中國163652881.6%177417877.6%(137650)(7.8)%
北美區1878999.4%2048829.0%(16983)(8.3)%
亞洲其他區域1034105.2%1490876.5%(45677)(30.6)%
歐洲區695283.5%1347605.9%(65232)(48.4)%
日本區66280.3%232061.0%(16578)(71.4)%
合計2003993100.0%2286113100.0%(282120)(12.3)%
*二零二四年，公司中國區營業收入佔比達到81.6%。
按技術類型劃分營業收入二零二四年二零二四年二零二三年二零二三年同比變化同比變化
千美元%千美元%千美元%
嵌入式非易失性存儲器(eNVM) 526122 26.3% 703148 30.8% (177026) (25.2)%
獨立式非易失性存儲器(sNVM) 130137 6.5% 116715 5.1% 13422 11.5 %
功率器件62392231.0%90234639.4%(278424)(30.9)%
邏輯與射頻27220113.6%2024838.9%6971834.4%
模擬(Analog)與電源管理(PM) 448100 22.4% 358333 15.7% 89767 25.1 %
其他35110.2%30880.1%42313.7%
合計2003993100.0%2286113100.0%(282120)(12.3)%
* 二零二四年，模擬與電源管理、邏輯與射頻營業收入增長較好，主要由AI相關需求的快速增長及消費電子領域的復甦驅動。182華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司183董事會報告按工藝節點劃分營業收入二零二四年二零二四年二零二三年二零二三年同比變化同比變化
千美元%千美元%千美元%
55納米及65納米43865621.9%29168312.8%14697350.4%
90納米及95納米38918119.4%38619116.9%29900.8%
0.11微米及0.13微米27859713.9%40591117.8%(127314)(31.4)%
0.15微米及0.18微米1296456.5%1473386.4%(17693)(12.0)%
0.25微米169320.8%242171.1%(7285)(30.1)%
≥0.35微米75098237.5%103077345.0%(279791)(27.1)%
合計2003993100.0%2286113100.0%(282120)(12.3)%
*二零二四年，55納米及65納米平台營業收入由於模擬與電源管理等平台的需求而保持較強增長。
按終端市場劃分營業收入二零二四年二零二四年二零二三年二零二三年同比變化同比變化
千美元%千美元%千美元%
消費電子126170563.0%129425156.6%(32546)(2.5)%
工業和汽車電子46125623.0%67339529.5%(212139)(31.5)%
通信25126112.5%25685611.2%(5595)(2.2)%
計算297711.5%616112.7%(31840)(51.7)%
合計2003993100.0%2286113100.0%(282120)(12.3)%
*二零二四年，消費電子市場需求仍相對平穩，該終端營業收入佔比達63.0%。182華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司183董事會報告產能及產能利用率
晶圓廠（千片晶圓每月）二零二四年二零二三年同比變化
華虹一廠6565–
華虹二廠6060–
華虹三廠5353–
8英寸晶圓月產能合計178178–
華虹七廠（12英寸晶圓產能）9595–
產能利用率（折合8英寸晶圓）99.5%94.3%5.2%
*二零二四年度折合8英寸晶圓產能利用率上升5.2個百分點。
付運晶圓千片晶圓二零二四年二零二三年同比變化
付運晶圓（折合8英寸晶圓）4545410310.8%
*二零二四年公司付運晶圓同比上升10.8%。
技術研發
華虹半導體堅持致力於差異化技術的研發、創新和優化，主要聚焦於嵌入式╱獨立式非易失性存儲器、功率器件、模擬與電源管理、及邏輯與射頻等特色工藝平台，持續為客戶提供滿足市場需求的產品組合和服務。二零二四年，華虹半導體繼續加快12英寸生產與技術平台建設，先進「特色IC + Power Discrete」產品組合因12英寸工藝平台的擴展而變得更加豐富。
非易失性存儲器平台仍然是公司最主要的收入平台之一，嵌入式閃存技術在智能卡與車規級MCU領域保持領先地位。基於「8英寸+12英寸」平台的產品組合優勢，多個工藝節點閃存工藝生產的全系列MCU芯片量產供貨，助力客戶在汽車電子、高端家電、工控等領域進入本土供應鏈第一梯隊，推動本土供應鏈升級。獨立式閃存平台，進一步提升自主NORD閃存技術與傳統ETOX閃存技術產品性能，得到客戶及終端應用認可，並已在汽車電子領域批量供貨。技術上，48nm NOR Flash攻關成功並實現規模量產，進一步拓展存儲器產品競爭力。184華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司185董事會報告
模擬與電源管理平台，二零二四年收入顯著增長，主要得益於AI周邊電源應用和手機領域的需求和穩定投片量，協同頭部客戶深耕手機快充、無線充電芯片等消費市場，並加速向汽車電子滲透。技術上，基於傳統BCD工藝開發「BCD+」組合工藝，在多個工藝節點推進工藝集成方案，全力打造多元化特色工藝平台，服務客戶並提供滿足多種市場應用的單芯片解決方案。
邏輯與射頻平台收入同樣增長迅速，55/40nm特色工藝及RF CMOS工藝大規模量產，65nm RF SOI工藝進入量產階段。
應用於高端手機主攝的BSI圖像傳感器芯片在55nm實現大規模量產，該平台技術的研發突破助力公司快速導入業界頭部客戶。
功率器件平台受同業產能釋放，及工業、新能源等終端需求相對疲軟的影響，承受了相當的價格壓力。但公司仍積極推動技術創新，並維持產能利用率的平穩。其中，超級結MOSFET深溝槽結構與高壓IGBT平台持續迭代優化及量產，對標國際領先水平，成為本土供應鏈進步的核心支撐。面對價格競爭加劇的挑戰，公司加速導入工業控制與汽車電子領域的高端產品，新品佔比穩步提升，鞏固市場領先地位。
二零二四年，公司重要的階段性成績莫過於華虹製造項目（華虹九廠）的順利投產。在經過一年半左右的廠房建設、主體結構封頂、潔淨室交付、主要設備搬入及調試驗證工作後，截至二零二四年底，華虹製造產線已開始投片及量產，預計於二零二五年將提供包括40nm工藝節點在內的更豐富的工藝平台產品組合，力爭實現產能的穩定爬坡並帶動收入的穩步提升。184 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 185董事會報告展望
展望二零二五年，預計全球半導體市場將繼續溫和回升，AI持續強勁，中國半導體市場同樣充滿韌性。在全體管理層的帶領下，公司將全方位提升管理及營運效能。研發方面，依託無錫新12英寸產線，大力推進關鍵技術平台的提升，補齊短板，重點突破，豐富產品組合，提高公司核心競爭力。產能方面，二零二五年華虹製造項目進入產能爬坡階段，將逐步釋放更多產能，與華虹無錫項目形成柔性產能配置，更好地滿足客戶需求。營運方面，公司也將進一步提升營運效率，加強成本控制。市場方面，圍繞推動國內生態鏈建設，做大做強國內客戶群體，與海外戰略型客戶促成「China for China」策略的落地。最終為華虹半導體的生態夥伴帶來更好的業績表現，為公司及股東創造價值。186華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司187董事會報告管理層討論及分析財務表現二零二四年二零二三年變動千美元千美元
銷售收入20039932286113(12.3)%
銷售成本(1798865)(1799017)0.0%
毛利205128487096(57.9)%
其他收入及收益1490721443703.3%
投資物業的公平值（虧損）╱收益(39)103(137.9)%
銷售及分銷費用(9628)(10189)(5.5)%
管理費用(351276)(322868)8.8%
其他費用(33395)(33666)(0.8)%
財務費用(97113)(100497)(3.4)%
分佔聯營公司溢利34599230(62.5)%稅前（虧損）╱溢利(133792)173579(177.1)%
所得稅開支(6593)(47154)(86.0)%年內（虧損）╱溢利(140385)126425(211.0)%
下列人士應佔：
母公司擁有人58108280034(79.2)%
非控股權益(198493)(153609)29.2%銷售收入
銷售收入達20.040億美元，較二零二三年下降12.3%，主要由於平均銷售價格下降所致，部分被付運晶圓數量增加所抵銷。
毛利
毛利為2.051億美元，較二零二三年減少57.9%，主要由於平均銷售價格下降及折舊成本增加所致。
管理費用
管理費用為3.513億美元，較二零二三年增加8.8%，主要由於研發費用增加及新晶圓廠啟動成本增加所致。
分佔聯營公司溢利
分佔聯營公司溢利為350萬美元，較二零二三年減少62.5%，乃由於聯營公司實現溢利減少所致。
所得稅開支
所得稅開支為660萬美元，較二零二三年減少86.0%，主要由於應課稅溢利減少所致。
年內（虧損）╱溢利
在上述因素的累計影響下，年內虧損為1.404億美元，而二零二三年的年內溢利為1.264億美元。186華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司187董事會報告財務狀況二零二四年二零二三年十二月三十一日十二月三十一日變動千美元千美元非流動資產
物業、廠房及設備5859117351929266.5%
投資物業164153166643(1.5)%
使用權資產7776178545(1.0)%
於聯營公司的投資1397991390990.5%
指定按公平值計入其他全面收益的權益工具2893112705067.0%
其他非流動資產52464199780(73.7)%
非流動資產總額6582605437386550.5%流動資產
存貨4670604497493.8%
貿易應收款項及應收票據270461278669(2.9)%
應收關聯方款項183241121963.3%
其他流動資產585902212649175.5%
已抵押存款3162432088(1.4)%
現金及現金等價物44591325585181(20.2)%
流動資產總額58325036569555(11.2)%流動負債
貿易應付款項29837223541026.7%
計息銀行借款28070419303545.4%
應付關聯方款項912513876(34.2)%
政府補助575633501764.4%
其他流動負債91647449504985.1%
流動負債總額156223897238760.7%
流動資產淨額42702655597168(23.7)%非流動負債
計息銀行借款191723519065260.6%
其他非流動負債2901649963(41.9)%
非流動負債總額19462511956489(0.5)%
資產淨額8906619801454411.1%188華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司189董事會報告
就二零二三年十二月三十一日至二零二四年十二月三十一日同比變動超過10%的項目的闡釋
物業、廠房及設備
物業、廠房及設備由35.193億美元增至58.591億美元，主要是由於新生產線產能擴張所致。
其他非流動資產
其他非流動資產由1.998億美元減少至5250萬美元，主要是由於設備預付款項減少所致。
應收關聯方款項
應收關聯方款項由1120萬美元增至1183萬美元，主要由於應收若干關聯方的款項增加所致。
其他流動資產
其他流動資產由2.126億美元增至5.859億美元，主要由於增值稅留抵稅額增加所致。
現金及現金等價物
現金及現金等價物由55.852億美元減至44.591億美元，主要由於下文現金流量分析所述之原因。
貿易應付款項
貿易應付款項由2.354億美元增至2.984億美元，主要由於材料採購增加所致。
應付關聯方款項
應付關聯方款項由1390萬美元減至910萬美元，主要由於一項購買技術應付款於年內支付所致。
政府補助
政府補助由3500萬美元增至5760萬美元，主要由於收到政府補助資金增加所致。
其他流動負債
其他流動負債由4.950億美元增至9.165億美元，主要由於資本開支的應付款項增加所致。
計息銀行借款
計息銀行借款總額由20.996億美元增至21.979億美元，主要由於提取銀行借款增加所致。
其他非流動負債
其他非流動負債由5000萬美元減至2900萬美元，主要由於遞延稅項負債減少所致。188華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司189董事會報告現金流量二零二四年二零二三年變動千美元千美元
經營活動所得現金流量淨額459495641695(28.4)%
投資活動所用現金流量淨額(2671532)(833312)220.6%
融資活動所得現金流量淨額11501253781746(69.6)%
現金及現金等價物（減少）╱增加淨額(1061912)3590129(129.6)%
年初現金及現金等價物55851812008765178.0%
外匯匯率變動影響，淨額(64137)(13713)367.7%年末現金及現金等價物44591325585181(20.2)%經營活動所得現金流量淨額
經營活動所得現金流量淨額為4.595億美元，較二零二三年減少28.4%，主要由於來自客戶的收入減少所致。
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26.715億美元，主要由於資本投資27.798億美元及權益工具投資1760萬美元，被收到(i)利息收入8200萬美元，(ii)政府補助4120萬美元，(iii)出售權益工具260萬美元，及(iv)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11.501億美元，包括(i)非控股權益注資11.818億美元，(ii)銀行借款所得款項2.893億美元，(iii)政府對利息開支的補助540萬美元，及(iv)購股權行使所得360萬美元，被(i)償還銀行借款1.835億美元，(ii)償付利息
1.057億美元，(iii)支付股息3620萬美元，及(iv)支付租賃付款的本金部分460萬美元所抵銷。
現金及現金等價物
在上述因素的累計影響下，現金及現金等價物由截至二零二三年十二月三十一日的55.852億美元減至截至二零二四年十二月三十一日的44.591億美元。190華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司191董事會報告財務風險利率風險
我們面臨市場利率變動的風險，主要與本集團浮動利率計息銀行借款有關。我們的政策為運用固定及浮動利率債務組合管理利率風險。
於二零二四年十二月三十一日，倘利率增加╱減少100基點，而所有其他變量維持不變，年內稅前溢利將減少╱增加
2005.3萬美元，乃主要由於浮動利率銀行借款的利息開支增加╱減少所致。
外幣風險
我們面臨交易性貨幣風險，該等風險主要產生自我們於中國內地營運的主要子公司以美元而非以該子公司的功能貨幣人民幣進行的買賣。於年內，我們的銷售額中約18%乃以進行銷售的子公司的功能貨幣以外的貨幣計值，與此同時，銷售成本中61%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。於二零二四年十二月三十一日，賬面值為15.023億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。
於二零二四年十二月三十一日，倘美元對人民幣升值或貶值5%，而所有其他變量維持不變，我們的年內稅前溢利將減少或增加約9960萬美元。
信貸風險
我們僅與獲認可及信譽良好的第三方及關聯方交易。根據我們的政策，所有擬按信用條款交易的客戶均須通過信用核實程序。此外，由於持續對應收款項結餘進行監控，故我們的壞賬風險並不重大。
我們的金融資產中面臨最大信用風險的項目為：綜合財務狀況表內現金及現金等價物、貿易應收款項及應收票據、計入預
付款項、其他應收款項及其他資產的金融資產、應收關聯方款項以及已抵押存款的賬面值。我們並無其他存在重大信用風險的金融資產。
流動資金風險
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，以應對短期及長期流動資金需要。
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。年內，管理資本的目標、政策或程序概無任何變動。190華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司191董事會報告資產負債比率資產負債比率的詳情載於財務報表附註38。
業績本集團截至二零二四年十二月三十一日止年度的業績及於該日的事務狀況載於本報告第302至305頁的財務報表。
末期股息
考慮到半導體行業的資本密集性質，結合本集團目前的發展及業務模式，本集團必須保留充足資金以滿足其運營需求，並推動其持續擴大產能、研發創新及提高市場份額，這有利於維持本集團的運營穩定性，並促進其長期發展計劃。因此，董事會不建議派付截至二零二四年十二月三十一日止年度的股息（二零二三年：每股0.165港元），惟須待股東週年大會批准。
股息政策
本公司決定自二零一五年度起，在本集團實現利潤、經營環境趨勢穩定且無重大投資行為的情況下，於本公司股東同意及合乎法例要求下，將對股東派發股息。計劃連續三年所派股息的平均額將不低於該三年平均可分配淨利潤的30%；其餘部份將用於本集團發展與經營。
有關股息政策仍會不時檢討，不保證會在任何指定期間派付任何特定金額的股息。如董事會建議派付股息，股息形式及金額將視乎董事評估不時影響本集團的因素而定。
可供分派儲備
於二零二四年十二月三十一日，本公司擁有276812000美元的可供分派儲備可供分派予股東。192華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司193董事會報告銀行貸款本集團於二零二四年十二月三十一日的銀行貸款的詳情載於財務報表附註26。
於二零二四年十二月三十一日，本集團若干銀行貸款由本集團資產作抵押。有關進一步詳情，請參閱財務報表附註26。
財務摘要本集團於過往五個財政年度的已公佈業績及資產以及負債摘要載於第412頁。本摘要並不構成經審核財務報表之一部份。
物業、廠房及設備
本集團旗下物業、廠房及設備和投資物業於截至二零二四年十二月三十一日止年度的添置及其他變動詳情載於財務報表附註13和14。
此外，投資物業詳情載列如下：
建築樓面面積
位置用途類別租期本集團權益（平方米）
中國上海工業用途按於二零五一年三月八日屆100%91563.11浦東新區滿的土地使用權持有張江高科技園區郭守敬路818號
9幢樓宇的一部份
報告期後重大事項
截至本報告日期，本公司無報告期後重大事項。
股本本公司截至二零二四年十二月三十一日止年度的股本變動詳情載於財務報表附註30。由二零一四年三月三日起按新公司條
例（第622章）附表11第37條，這些變動包括自動將股份溢價賬的進賬額列入股本中，為過渡至無面值股份制度的一部份。192華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司193董事會報告購股權計劃
購股權計劃（「購股權計劃」）已經於二零一五年九月一日舉行的本公司股東特別大會批准。購股權計劃的概要如下：
購股權計劃的目的：購股權計劃的目的是吸引、挽留參與者（定義見下文）及對其提供獎勵，以讓其有機會獲得本公司股份及將其利益與本公司的經營業績及股價表現密切相連，旨在提升本公司價值。
參與者：購股權計劃參與者（「參與者」）包括(1)本集團任何成員公司的現時執行
及非執行董事；或(2)對本集團任何成員公司的經營業績及可持續發展有直接影響的高級管理層以及主要管理及技術人員之人士（視乎購股權計劃列明的任何限制及約束而定），惟不包括任何獨立非執行董事。
各參與者的最高配額：倘在任何12個月期間內所配發及因授出及將予授出的全部購股權（「購股權」，包括已行權、已註銷及尚未行使的購股權）獲行使而向參與者配發的股份總數超過本公司當時已發行股本的1%，則不得向該參與者進一步授出購股權。經股東於股東大會上批准，可在任何12個月期間內向任何參與者授予超出1%個人限額的購股權。在授出日期（定義見購股權計劃），任何持有本公司5%以上附有表決權股份的人員，未經股東於股東大會上批准，不得被授予購股權。
購股權可予行使前須持有的最短期間（如有）：2年（除非購股權授予通知另有規定）。
申請或接納購股權所應付的款項及1.00港元乃由各被授予人自建議授出日期起計28日內支付，作為授出須予付款或催繳或就此須支付貸款的期間：購股權的代價。
於二零二四年初及末可供授出的購股權計劃有效期間為採納日期起計七(7)年。因此其已於二零二二年購股權計劃數目及購股權計劃的餘下期限：九月一日屆滿。自該日起，購股權計劃項下將不再授出購股權且概無授出購股權。
於二零二四年十二月三十一日及本報告日期，購股權計劃項下可供發行的股份總數為19337302股及12382480股，分別佔已發行股份總數的約1.13%及0.72%（佔上市公司已發行所有股份含A股）。194 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 195董事會報告根據購股權計劃授出的購股權
於二零一五年九月四日，本公司根據購股權計劃向若干個人授出30250000份購股權（「二零一五年購股權」），以認購合共
30250000股本公司普通股。二零一五年購股權的詳情如下：
授出日期：二零一五年九月四日
所授出購股權的行使價：6.912港元所授出購股權的數目：30250000份（佔本公司截至二零二三年十二月三十一日止已發行股份的1.76%）
購股權的有效期間：自二零一五年九月四日起至二零二二年九月三日（七(7)年）止（包括首尾兩日）
購股權的歸屬期間：購股權的三分之一應分別於二零一七年九月四日、二零一八年九月四日及二零一九年九月四日歸屬
每股行使價6.912港元較以下較高者溢價0%：(i)於授出日期香港聯交所每日報價表所報每股收市價6.87港元；(ii)於緊接授
出日期前五個交易日香港聯交所每日報價表所報平均每股收市價6.912港元；及(iii)於緊接授出日期前一天香港聯交所每日
報價表所報每股收市價6.800港元。
於二零一八年十二月二十四日，本公司根據購股權計劃向若干個人授出34500000份購股權（「二零一八年購股權」），以認購合共34500000股本公司普通股。二零一八年購股權的詳情如下：
授出日期：二零一八年十二月二十四日
所授出購股權的行使價：15.056港元所授出購股權的數目：34500000份（佔本公司截至二零二三年十二月三十一日止已發行股份的2.01%）購股權的有效期間：自二零一八年十二月二十四日起至二零二五年十二月二十三日（七(7)年）止（包括首尾兩日）
購股權的歸屬期間：就本公司副總裁（及董事）或以上級別的僱員而言，二零一八年購股權的四分之一應分別於二零二零年十二月二十四日、二零二一年十二月二
十四日、二零二二年十二月二十四日及二零二三年十二月二十四日歸屬；就本公司其他僱員而言，二零一八年購股權的三分之一應分別於二零二零年十二月二十四日、二零二一年十二月二十四日及二零二二年十
二月二十四日歸屬194華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司195董事會報告
每股行使價15.056港元為以下各項的較高者：(i)於授出日期香港聯交所每日報價表所報每股收市價14.440港元；(ii)於緊接
授出日期前五個營業日香港聯交所每日報價表所報平均每股收市價15.056港元；(iii)於緊接授出日期前一天香港聯交所每日
報價表所報每股收市價14.380港元；及(iv)股份的面值。
於二零一九年三月二十九日，本公司根據購股權計劃向一人授出500000份購股權（「二零一九年三月購股權」），以認購合共500000股本公司普通股。二零一九年三月購股權的詳情如下：
授出日期：二零一九年三月二十九日
所授出購股權的行使價：18.400港元所授出購股權的數目：500000份（佔本公司截至二零二三年十二月三十一日止已發行股份的
0.03%）
購股權的有效期間：自二零一九年三月二十九日至二零二六年三月二十八日（七(7)年）止（包括首尾兩日）
購股權的歸屬期間：購股權的四分之一將分別於二零二一年十二月二十三日、二零二二年八
月十二日、二零二三年八月十一日及二零二四年八月九日歸屬
每股行使價18.400港元為以下各項的較高者：(i)於授出日期香港聯交所每日報價表所報每股收市價18.400港元；(ii)於緊接
授出日期前五個營業日香港聯交所每日報價表所報平均每股收市價18.176港元；(iii)於緊接授出日期前一天香港聯交所每日
報價表所報每股收市價18.220港元；及(iv)股份的面值。
於二零一九年十二月二十三日，本公司根據購股權計劃向若干個人授出2482000份購股權（「二零一九年十二月購股權」），以認購合共2482000股本公司普通股。二零一九年十二月購股權的詳情如下：
授出日期：二零一九年十二月二十三日
所授出購股權的行使價：17.952港元所授出購股權的數目：2482000份（佔本公司截至二零二三年十二月三十一日止已發行股份的
0.14%）
購股權的有效期間：自二零一九年十二月二十三日至二零二六年十二月二十二日（七(7)年）止（包括首尾兩日）
購股權的歸屬期間：就華虹無錫副總裁或以上級別的僱員而言，購股權的四分之一將分別於二零二一年十二月二十三日、二零二二年十二月二十三日、二零二三年十二月二十三日及二零二四年十二月二十三日歸屬；就華虹無錫其他僱員而言，購股權的三分之一將分別於二零二一年十二月二十三日、二零二二年十二月二十三日及二零二三年十二月二十三日歸屬196華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司197董事會報告
每股行使價17.952港元為以下各項的較高者：(i)於授出日期香港聯交所每日報價表所報每股收市價17.260港元；(ii)於緊接
授出日期前五個營業日香港聯交所每日報價表所報平均每股收市價17.952港元；(iii)於緊接授出日期前一天香港聯交所每日
報價表所報每股收市價17.200港元；及(iv)股份的面值。
於二零一九年三月購股權中，500000份購股權已授予本公司董事，惟須待彼等接納。
購股權於截至二零二四年十二月三十一日止年度的變動詳情如下：
參與者姓名或類別董事購股權數目唐均君先生已離任董事其他僱員總數
於二零一五年九月四日授出–988000–29262000––30250000
於二零一八年十二月二十四日授出––680000–33820000–34500000
於二零一九年三月二十九日授出500000–––––500000
於二零一九年十二月二十三日授出–––––24820002482000
於二零一五年註銷╱失效–––-130000––-130000
於二零一六年註銷╱失效–––-1458000––-1458000
於二零一七年註銷╱失效–––-1353399––-1353399
於二零一八年註銷╱失效–––-754595––-754595
於二零一九年註銷╱失效––-600000-58000-1035000-36000-1729000
於二零二零年註銷╱失效–-119000-80000–-993904-84000-1276904
於二零二一年註銷╱失效-62500–––-5751868-592993-6407361
於二零二二年註銷╱失效––––-543728-73983-617711
於二零二三年註銷╱失效-8168-6900-15068
期內行使––––17400461400751880121
期內註銷–––––-6900-6900
期內失效––––-87758-116668-204426於二零二四年一月一日
尚未行使437500–19468101151624821421849於二零二四年十二月三十一日
尚未行使437500–17640297125950519337302購股權之歸屬期二零一九年二零一五年二零一八年二零一五年二零一八年二零一九年三月二十九日九月四日十二月二十四日九月四日十二月二十四日十二月二十三日至二零二六年至二零二二年至二零二五年至二零二二年至二零二五年至二零二六年三月二十八日九月三日十二月二十三日九月三日十二月二十三日十二月二十二日購股權之行使期二零二一年二零一七年二零二零年二零一七年二零二零年二零二一年三月二十九日九月四日十二月二十四日九月四日十二月二十四日十二月二十三日至二零二六年至二零二二年至二零二五年至二零二二至二零二五年至二零二六年三月二十八日九月三日十二月二十三日年九月三日十二月二十三日十二月二十二日
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港元股份於緊接購股權獲行使日期
之前的加權平均收市價20.67港元22.56港元
除上文披露者外，本公司於截至二零二四年十二月三十一日止年度並未採納任何其他購股權計劃。196華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司197董事會報告儲備本集團截至二零二四年十二月三十一日止年度的儲備變動詳情載於本報告第306至307頁之綜合權益變動表。
證券發行與上市股票及其衍生證券的種類發行價格發行數量上市日期截至報告期末獲准上市交易數量普通股人民幣52.00元407750000股2023年8月7日391440000股（無限售條件的流通股）；16310000股（有限售條件的流通股）
為了提高公司的綜合競爭力，增強公司的持續發展能力，於二零二二年六月二十七日，本公司召開股東特別大會，審議通過向上交所申請首次公開發行人民幣普通股股票（「人民幣股份」）不超過43373萬股，並於上海證券交易所科創板上市的議案。董事會認為，公司本次發行上市符合國家有關產業政策和公司發展戰略，有助於進一步擴大產能規模，增強研發實力，豐富工藝平台，以更好地滿足市場需求、提升公司在晶圓代工行業的市場地位和核心競爭力。
於二零二三年八月七日，本公司在上海證券交易所科創板掛牌上市，證券簡稱「華虹公司」，證券代碼「688347」。
通過在上海證券交易所科創板進行人民幣股份發行，本公司407750000股普通股已被認購，認購人包括符合資格的網下投資者及已於上海證券交易所開立賬戶並符合條件的自然人、法人、其他機構投資者（中國法律、法規及監管文件禁止購買者除外）或符合中國證券監督管理委員會、上海證券交易所相關資格規定的其他目標認購人。198華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司199董事會報告
本次發行募集資金總額為人民幣21203000000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20920677000元，每股普通股的發行價為人民幣52.00元（於本公司公告人民幣股份發行條款當天（即二零二三年八月四日），本公司股份於香港聯交所的收市價為港幣26.35元）。募集資金到賬後，已全部存放於經公司董事會批准開設的募集資金專項賬戶內。截至二零二三年十二月三十一日，所得款項淨額約人民幣1944328349元已動用，因此約人民幣18976348611元結轉至報告期初。募集所得款項是按照先前披露的所得款項計劃用途來使用的，詳情如下：
單位：人民幣元報告期末未動用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所得款項累計預計使用時間
華虹製造（無錫）項目12500000000.00160279362.292025年底前
8英寸廠優化升級項目2000000000.001736605414.572025年底前
特色工藝技術創新研發項目2500000000.001938773902.262026年底前
補充流動資金1000000000.00–不適用198華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司199董事會報告持續關連交易
本集團已於二零一四年十月三日發佈的招股章程中披露有關與（其中包括）華力微、華虹置業及華錦物業管理之間的持續關連交易。具體交易詳情概要載於下表。本公司已申請並獲香港聯交所豁免（其中包括）就有關交易嚴格遵守公告及獨立股東批准之規定（視情況而定）。本集團持續關連交易以及二零二四年期間執行的其他持續關聯交易詳情載列如下：
二零二四年二零二四年交易交易日期交易雙方關連關係交易實際交易金額建議年度上限
(1)二零二四年一月一日華虹集團（作為買方）華虹集團為本公司的主要股東。本公司根據華虹集團框架協議向華虹集團、20441000美元29320000美元其子公司及聯營公司（包括虹日及華虹摯本公司（作為賣方）虹日及華虹摯芯分別由華虹集團擁有51%及芯）銷售半導體產品。
93.02%。
(2)二零二四年一月一日華虹集團（作為賣方）華虹集團為本公司的主要股東。本公司根據華虹集團框架協議自華虹集團、39531000美元40425000美元其子公司及聯營公司（包括虹日及華虹摯本公司（作為買方）虹日及華虹摯芯分別由華虹集團擁有51%及芯）購買晶圓及化學品。
93.02%。200華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司201
董事會報告二零二四年二零二四年交易交易日期交易雙方關連關係交易實際交易金額建議年度上限
(3)二零二四年一月一日華虹宏力（作為服務提供華虹無錫為非全資子公司，並由國家集成電華虹宏力（作為服務提供方）與華虹無錫（作人民幣69912007元人民幣140000000元方）路產業基金持有約20.58%。為服務接收方）訂立的服務協議，內容有關（約9.842000美元）(1)（約19620000美元）由於國家集成電路產業基金於2024年6月27華虹宏力向華虹無錫提供公司服務。
華虹無錫（作為服務接收日起不再是本公司主要股東，因此，華虹無方）錫自當天起不再是本公司的關連附屬公司。
(4)二零二四年一月一日華虹宏力（作為服務接收華虹無錫為非全資子公司，並由國家集成電華虹宏力（作為服務接收方）與華虹無錫（作63000美元(1)2550000美元方）路產業基金持有約20.58%。由於國家集成為服務提供方）訂立的服務協議，內容有關電路產業基金於2024年6月27日起不再是本提供化學品配售服務。
華虹無錫（作為服務提供公司主要股東，因此，華虹無錫自當天起不方）再是本公司的關連附屬公司。
(5)二零二四年一月一日華虹製造（作為服務接收華虹無錫為非全資子公司，並由國家集成電華虹製造（作為服務接收方）與華虹無錫（作人民幣59974191元人民幣120000000元方）路產業基金持有約20.58%。由於國家集成為服務提供方）訂立的服務協議，內容有關（約8443000美元）(1)（約16817000美元）電路產業基金於2024年6月27日起不再是本華虹無錫向華虹製造提提供合營內部服務。
華虹無錫（作為服務提供公司主要股東，因此，華虹無錫自當天起不方）再是本公司的關連附屬公司。
(6)二零二四年一月一日華虹製造（作為服務接收華虹無錫為非全資子公司，並由國家集成電華虹製造（作為服務接收方）與華虹無錫（作人民幣7100000元人民幣7150000元方）路產業基金持有約20.58%。由於國家集成為服務提供方）訂立的服務協議，內容有關（約999000美元）(1)（約1002000美元）電路產業基金於2024年6月27日起不再是本華虹無錫向華虹製造新員工提供員工委託培華虹無錫（作為服務提供公司主要股東，因此，華虹無錫自當天起不養。方）再是本公司的關連附屬公司。200華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司201董事會報告二零二四年二零二四年交易交易日期交易雙方關連關係交易實際交易金額建議年度上限
(7)二零一零年二月二十華力微（作為承租人）華力微由本公司主要股東華虹集團擁有華力微（作為承租人）與本公司（作為出租人民幣98801000元人民幣103000000元五日（連同日期為二零53.85%。人）訂立的租賃協議，內容有關本公司將位（約13892000美元）（約14435000美元）一一年六月十日及二本公司（作為出租人）於中國上海浦東新區張江高科技園區13街
零一四年七月二十五坊2丘晶園廠的物業出租予華力微，供其設日的補充協議） 置300mm晶圓生產線。總出租建築面積為
96048.2平方米。
(8)二零二四年一月一日華力微（作為承租人）華力微由本公司主要股東華虹集團擁有華力微（作為承租人）與華虹宏力（作為出租人民幣1402000元人民幣5316000元53.85%。人）訂立的租賃協議，內容有關華虹宏力將（約197000美元）（約745000美元）
華虹宏力（作為出租人）位於其廠房內的若干清潔室出租予華力微。
總出租建築面積為192平方米。
(9)二零一三年一月十日華虹置業（作為出租人）華虹置業為華虹科技發展的全資子公司，華華虹置業（作為出租人）與本公司（作為承租人民幣11504000元人民幣12700000元（連同日期為虹科技發展為由本公司主要股東華虹集團持人）訂立的租賃協議，內容有關本公司向華（約1617000美元）(2)（約1780000美元）二零一四年六月十日本公司（作為承租人）有50%並與其綜合入賬及由本公司全資子公虹置業租賃位於中國上海浦東新區錦綉東的補充協議）司華虹宏力持有50%的公司。路2777弄華虹創新園的宿舍物業（「宿舍物業」）以用作本公司僱員的員工宿舍。租賃總建築面積為17412.87平方米。202華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司203董事會報告二零二四年二零二四年交易交易日期交易雙方關連關係交易實際交易金額建議年度上限
(10)二零二四年一月一日華錦物業管理（作為物業華錦物業管理為華虹科技發展的全資子公華錦物業管理（作為物業管理公司）與本公人民幣3933000元人民幣5700000元管理公司）司，華虹科技發展為由本公司主要股東華虹司（作為承租人）訂立的物業管理協議，內（約553000美元）（約799000美元）集團持有50%並與其綜合入賬及由本公司全容有關本集團委聘華錦物業管理就宿舍物業
本公司（作為承租人）資子公司華虹宏力持有50%的公司。提供物業管理服務。
(11)二零二三年一月一日華虹置業（作為出租人）華虹置業為華虹科技發展的全資子公司，華華虹置業（作為出租人）與華虹宏力（作為承人民幣6586000元人民幣7300000元虹科技發展為由本公司主要股東華虹集團持租人）訂立的租賃協議，內容有關本公司向（約927000美元）(3)（約1023000美元）華虹宏力（作為承租人）有50%並與其綜合入賬及由本公司全資子公華虹置業租賃位於中國上海浦東新區錦綉東司華虹宏力持有50%的公司。路2777弄華虹創新園的宿舍物業（「新增宿舍物業」）以用作本公司僱員的員工宿舍。租賃總建築面積為9977.17平方米。202華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司203董事會報告
附註：
(1)由於國家集成電路產業基金於2024年6月27日起不再是本公司主要股東，因此，華虹無錫自當天起不再是本公司的關連附屬公司，本集團與華虹無錫之有關交易自當天起不再是上市規則項下的關連交易，上述有關持續關連交易金額的披露僅包含2024年1月1日至
2024年6月27日（含首尾兩天）。
(2)本集團在採納香港財務報告準則第16號之前就華虹置業的若干宿舍物業訂立一項為期二十年的租約。因此，本集團毋須重新遵守須
予公佈或關連交易規則。本集團根據該項租約應付的租金為每年1617000美元。於二零二四年十二月三十一日，該等使用權資產及租賃負債的結餘分別為9694000美元及12237000美元。
(3)本集團就華虹置業的宿舍物業訂立另一項租約。本集團根據該項租約應付的租金為每年927000美元。於二零二四年十二月三十一日，該等使用權資產及租賃負債的結餘分別為6341000美元及6611000美元。
如上所述持續關連交易的價格及條款乃根據本公司相關公告所載的定價政策及指引釐定。董事會（包括獨立非執行董事）已審閱以上持續關連交易，並確認所訂立之該等交易實則上於二零二四年持續進行：
(i) 於本公司日常業務過程中進行；
(ii) 按照一般商務條款進行，或如可供比較的交易不足以判斷該等交易的條款是否為一般商務條款，對本公司而言，該等交易的條款不遜於獨立第三方可取得或提供（視屬何情況而定）的條款；及
(iii) 根據有關的協議條款進行，而交易條款公平合理，並且符合本公司股東的整體利益。
本公司核數師已致函董事會，認為就上文所述於二零二四年訂立之持續關連交易：
(i) 核數師並不知悉任何事項使核數師相信，已披露的持續關連交易尚未得到本公司董事會的批准；
(ii) 就涉及本集團提供商品或服務的交易而言，核數師並不知悉任何事項使核數師相信，這些交易未能在所有重大方面符合本公司的定價政策；
(iii) 核數師並不知悉任何事項使核數師相信，這些交易的訂立未能在所有重大方面符合關於這些交易的相關協議的規定；及(iv) 就各持續關連交易之總額而言，核數師並不知悉任何事項使核數師相信，對於各項已披露的持續關連交易，其交易金額已超過相關公告所披露的相關年度上限。204華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司205董事會報告關聯方交易
於截至二零二四年十二月三十一日止年度，本集團根據適用會計準則與被視為「關聯方」的人士進行若干交易。本集團於截至二零二四年十二月三十一日止年度訂立的關聯方交易的詳情於財務報表附註35披露。本公司已遵守上市規則第十四A章所載之披露規定。除本年報「持續關連交易及關連交易」一節所披露者外，於附註35披露的其他關聯方交易並不被視為關連交易，或根據上市規則獲豁免申報、公佈及獲股東批准之規定。
重大投資
於二零二四年十二月三十一日，本集團並無持有任何重大投資（價值為本集團總資產5%或以上）。
重大投資及資本資產的未來計劃
除本報告所披露者外，截至二零二四年十二月三十一日，本集團並無重大投資或資本資產的其他具體計劃。
股東週年大會
股東週年大會將於二零二五年五月八日（星期四）舉行。
暫停辦理股份過戶登記手續為釐定股東出席股東週年大會並於會上投票的資格
交回股份過戶文件以作登記的最後時限二零二五年四月三十日（星期三）下午四時三十分
暫停辦理股份過戶登記手續二零二五年五月二日（星期五）至
二零二五年五月八日（星期四）（包括首尾兩日）記錄日期二零二五年五月八日
為確保符合資格出席股東週年大會並於會上投票，尚未登記的股份持有人要確保將全部股份過戶文件連同有關股票於上述最後時限前送達本公司的股份過戶登記分處卓佳證券登記有限公司辦理股份過戶登記手續，地址為香港夏愨道16號遠東金融中心17樓。204華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司205董事會報告董事及董事服務合約
年內及截至本報告日期，本公司的董事如下：
執行董事：
唐均君先生（主席）（於二零二四年十二月三十一日獲委任為主席）
白鵬博士（總裁）（於二零二五年一月一日獲委任）
張素心先生（於二零二四年十二月三十一日辭任）
非執行董事：
葉峻先生孫國棟先生
陳博先生（於二零二五年三月七日獲委任）
熊承艷女士（於二零二四年三月二十八日獲委任）
周利民先生（於二零二四年一月十九日獲委任、二零二五年三月七日辭任）
獨立非執行董事：
張祖同先生
王桂壎先生，太平紳士封松林先生（於二零二四年三月二十八日獲委任）
葉龍蜚先生（於二零二四年三月二十八日辭任）
本公司各董事以三年特定任期獲委任，並須於股東大會上由本公司再次提名及重選，除非其委任已按照相關委任函或董事服務合約的條款及條件提早終止。
根據細則第117條及118條，葉峻先生、孫國棟先生及張祖同先生將於股東週年大會上輪席退任董事職務。白鵬博士及陳博先生分別於二零二五年一月一日及二零二五年三月七日獲董事會委任為執行董事及非執行董事，將根據細則第122條於股東週年大會上退任。葉峻先生、孫國棟先生、張祖同先生、白鵬博士及陳博先生符合資格並願按照細則膺選連任。
概無擬於股東大會上膺選連任的董事已訂立本集團可於一年內終止而無須補償（法定補償除外）的服務合約。
本公司已接獲現任各獨立非執行董事及葉龍蜚先生按照上市規則第3.13條發出的年度獨立性確認書。本公司認為根據上市規則，所有上述現任及前任獨立非執行董事均為獨立人士。
董事及高級管理層履歷
本公司董事及高級管理層的履歷載於本報告第158至167頁。206華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司207董事會報告最高薪人士及董事及高級管理層的薪酬董事及5名最高薪人士的薪酬詳情分別載於本年報綜合財務報表附註9。
董事及最高行政人員於本公司股份及相關股份的權益於二零二四年十二月三十一日，除下文披露者外，概無本公司董事及最高行政人員於本公司或任何相聯法團（定義見證券及期貨條例第XV部）的股份、相關股份或債權證中擁有載入根據證券及期貨條例第352條須予存置的登記冊內的任何權益或淡倉，或須按照上市規則所載上市的標準守則須知會本公司及香港聯交所的任何權益或淡倉。
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
唐均君先生實益擁有人4485000.03%
附註：
(1) 彼於(a)按購股權計劃授出的購股權項下437500股份本公司相關股份及(b)11000股人民幣股份中持有好倉。
董事於競爭業務的權益
於本年度，概無本集團董事於與本公司或本集團業務直接或間接競爭的業務中擁有任何權益。
董事於重大交易、安排或合約的權益
本公司或其任何子公司或聯營公司並無訂立於截至二零二四年十二月三十一日止年度完結時或年內任何時間仍然生效，且有董事或與董事相關之實體直接或間接擁有重大權益的重大交易、安排或合約。
董事的證券交易
本公司已自行頒佈董事買賣本公司證券的行為守則（「公司守則」），條款不比標準守則寬鬆。經向全體董事進行具體查詢，董事確認他們於二零二四年整個年度一直遵守公司守則及標準守則。206華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司207董事會報告彌償保證及保險
本公司為董事及高級職員提供D&O保險。D&O保險承保日常管理責任及每年續保。
子公司的董事
於截至二零二四年十二月三十一日止年度或於二零二四年末起至本報告日期期間，在本公司子公司董事會任職的董事姓名如下：
子公司名稱註冊成立地點董事姓名華虹宏力中國上海唐均君先生白鵬博士葉峻先生陳博先生熊承艷女士張祖同先生
王桂壎先生，太平紳士封松林先生
張素心先生(2)
周利民先生(2)
葉龍蜚先生(2)華虹無錫中國無錫唐均君先生韋俊先生白鵬博士孫國棟先生吳衛華先生陳博先生金新先生
張素心先生(3)
周利民先生(3)華虹製造中國無錫唐均君先生韋俊先生白鵬博士孫國棟先生吳衛華先生陳博先生金新先生
張素心先生(4)
周利民先生(4)
華宏置業（無錫）有限公司中國無錫周衛平先生力鴻科技有限公司中國香港王鼎先生傅城先生
Grace Cayman 開曼群島 張素心先生葉峻先生
HHGrace Semiconductor USA Inc. 美國加州 王鼎先生傅城先生
HHGrace Semiconductor Japan Co. Ltd. 日本東京 中村真紀女士王鼎先生
傅城先生208華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司209董事會報告
附註：
(1)白鵬博士、陳博先生、熊承艷女士、封松林先生分別於二零二五年一月、二零二五年三月、二零二四年四月及二零二四年四月獲委
任為華虹宏力董事，已在相關市場監督管理部門登記。
(2)張素心先生、周利民先生、葉龍蜚先生辭任華虹宏力董事，已在相關市場監督管理部門登記。
(3)白鵬博士、陳博先生分別於二零二五年一月及二零二五年三月獲委任為華虹無錫董事。張素心先生、周利民先生辭任華虹無錫董事，相關市場監督管理部門登記正在變更中。
(4)白鵬博士、陳博先生分別於二零二五年一月及二零二五年三月獲委任為華虹無錫董事。張素心先生、周利民先生辭任華虹無錫董事，相關市場監督管理部門登記正在變更中。
主要股東及其他人士於本公司股份和相關股份的權益
於二零二四年十二月三十一日，除本公司董事或最高行政人員外，於本集團股份及相關股份中擁有5%或以上權益或淡倉的人士如下：
佔已發行股本權益
主要股東身份及權益性質持有股份數目總額的概約百分比*
上海華虹國際有限公司（「華虹國際」）(2)法定及實益擁有人347605650(1)20.23%
華虹集團(2)受控制法團權益347605650(1)20.23%
法定及實益擁有人1198517(3)0.07%
Sino-Alliance International Ltd. 法定及實益擁有人 160545541(1)(4) 9.34%（「Sino-Alliance International」）
Sino-Alliance International 受控制法團權益 28415606(1) 1.65%
上海聯和受控制法團權益188961147(1)(5)10.99%鑫芯（香港）投資有限公司法定及實益擁有人118495939(1)6.90%巽鑫（上海）投資有限公司受控制法團權益118495939(1)6.90%
國家集成電路產業基金受控制法團權益118495939(1)6.90%
附註：
(1)於本公司股份中的好倉。
(2)華虹國際為華虹集團的全資子公司。
(3) 華虹集團直接持有合共1198517股A股股份。
(4) 包括Sino-Alliance International根據一項託管安排，以託管方式持有的3084股股份。
(5) 上海聯和透過兩家全資子公司包括Sino-Alliance International間接持有本公司權益。
*百分比乃按本公司於二零二四年十二月三十一日已發行的股份總數（即1718468815股股份）計算。208華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司209董事會報告
除上文披露者外，就本公司董事及最高行政人員所知，於二零二四年十二月三十一日，概無本公司董事或最高行政人員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任何權益或淡倉並已記入根據證券及期貨條例第336條本公司須予存置的記錄冊內。
購買股份或債權證的安排
於截至二零二四年十二月三十一日止年度任何時間，概無向任何董事或彼等各自之配偶或未成年子女授出任何權利以收購本公司股份或債權證方式得到利益，亦無上述人士曾行使上述權益；再者，本公司或其任何控股公司、子公司或同系子公司亦無訂立任何安排，使董事或彼等各自之配偶或未成年子女可購買任何其他法人團體之上述權利。
主要客戶及供應商
於報告期間，本集團前五名供應商合共應佔的採購額少於本集團總採購額的30%。
於報告期間，本集團最大客戶及前五名客戶合共應佔的銷售收入分別佔本集團總銷售收入的約9.1%及30.1%。
於報告期間，概無董事或其任何緊密聯繫人（定義見上市規則）或任何股東（據董事所深知，擁有本公司已發行股份總數5%以上者）於本集團前五名客戶中擁有重大權益。
薪酬政策
截至二零二四年十二月三十一日，本集團僱用合共7487名員工。本集團按其優點及發展潛能招聘及擢升人員。本集團僱員的薪酬政策由薪酬委員會按其優點、資質及勝任程度設立。
董事薪酬由薪酬委員會決定，並會考慮到本集團的經營業績及個人表現。董事薪酬按姓名載列於截至二零二四年十二月三十一日止年度的財務報表附註8。
買賣、銷售或贖回證券
截至二零二四年十二月三十一日止年度，本公司或其任何子公司概無買賣、銷售或贖回本公司任何上市證券。
優先購買權
本公司的細則或香港法律概無優先購買權條文，規定本公司須按比例向現有股東提呈新股份發售。210華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司211董事會報告企業管治
本公司致力保持企業管治在高水平，以保障股東權益及提升企業價值及問責性。
本公司所採納的企業管治常規資料載於本年報企業管治報告內。
遵守相關法律法規
據董事會所知，本公司在各重大方面均已遵守對本公司業務及營運具有重大影響的相關法律法規。
環境及社會責任
本公司堅信穩健有效的環境、社會及管治(ESG)管理是企業可持續高品質發展的基礎，公司將ESG理念深刻融入到戰略、管理和長期發展目標中，貫穿企業運營全過程，推動業務不斷發展，並為所有的利益相關方創造和分享價值。
報告期內，公司重新制定了ESG管理目標，以更高的標準促進自身在能源、溫室氣體排放、水資源、廢棄物等方面的管理水平持續提升，順應時代發展，把握市場機遇，堅定了公司在可持續發展道路上持續奮進的決心。公司亦通過了責任商業聯盟(Responsible Business Alliance)的鉑金級(Platinum Award)的審核認證。
遵守不競爭契據及優先購買權契據
華虹集團、上海聯和及上海儀電（集團）有限公司（作為本公司當時的控股股東）訂立日期為二零一四年九月二十三日的不
競爭契據（「不競爭契據」），詳情載於日期為二零一四年十月三日的本公司招股章程（「招股章程」）「與控股股東的關係」一節中「不競爭承諾」一段。另外，華虹集團和上海聯和亦訂立日期為二零一四年六月十日的優先購買權契據（「優先購買權契據」），詳情載於招股章程「與控股股東的關係」一節中「優先購買權」一段。本公司於截至二零二四年十二月三十一日止年度已覆核上述各控股股東有關他們遵守不競爭契據及優先購買權契據（視情況而定）內承諾的書面聲明。獨立非執行董事已覆核遵守情況，並確認不競爭契據及優先購買權契據（視情況而定）下的全部承諾均獲有關訂約方遵守。210華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司211董事會報告足夠公眾持股量
按本公司可公開取閱的資料，就董事於本報告日期所知，董事信納本公司已維持上市規則下的指定最低公眾持股量。
代表董事會唐均君主席
二零二五年三月二十七日212華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司213
2024年度環境、社會及管治報告
報告編製說明
本報告是華虹半導體有限公司第九份《環境、社會及管治報告》，向各利益相關方披露公司在經營中對於ESG議題所秉持的運營理念、建立的管理辦法、推行的工作與達到的成效。
報告範圍
本報告範圍涵蓋華虹半導體有限公司（簡稱「華虹半導體」「公司」）。除非特別說明，與華虹半導體（股票代碼：01347.HK/688347.SH）同期合併財務報表範圍一致。
華虹半導體涉及生產製造的工廠包括上海基地及無錫基地，上海基地涵蓋華虹一廠、華虹二廠、華虹三廠；無錫生產基地涵蓋華虹七廠。無錫華虹九廠於2024年12月建成投片，暫不納入本次報告範圍中。
報告期間
本報告期間為2024年1月1日至2024年12月31日。本報告中的數據如無特別說明，均為此期間內數據。
編製依據
本報告依據香港交易所刊發的《上市規則》附錄C2《環境、社會及管治報告指引》（2023年12月31日起生效版）、上海證券交
易所刊發的《上海證券交易所上市公司自律監管指引第14號－可持續發展報告（試行）》（2024年4月）、上海市國有資產監
督管理委員會（「上海市國資委」）印發的《上海市國有控股上市公司環境、社會和治理(ESG)指標體系（1.0版）》進行編製。
數據說明報告中數據和案例來自公司實際運行的正式記錄。報告中的財務數據均以人民幣為單位。財務數據與公司年度財務報告不符的，以年度財務報告為準。
報告獲取方式
本報告通過電子版形式發佈，發佈平台包括證券交易所指定的信息披露平台，亦可於公司官方網站（ https://www.huahonggrace.com ）在線瀏覽或下載。
聯繫我們
如對報告有建議，可通過以下方式與我們聯繫：
聯繫地址：中國上海市張江高科技園區哈雷路288號
聯繫郵箱：IR@ hhgrace.com212 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 213
2024年度環境、社會及管治報告
報告編製原則重要性
公司識別出各利益相關方關注的與經營相關的重要性議題，作為本報告匯報重點。本報告中對重要性議題匯報的同時，關注公司所處行業和經營業務的特點。議題重要性分析過程及結果詳見本報告「議題重要性評估」章節。
準確性
本報告盡可能確保信息準確。其中，定量信息的測算已說明數據口徑、計算依據與假定條件，以保證計算誤差範圍不會對信息使用者造成誤導性影響。定量信息及附註信息詳見本報告「ESG數據表及附註」章節。
平衡性
本報告內容反映客觀、真實的事實，對涉及公司正面、負面的信息均予以不偏不倚的披露。在報告期間內未發現應當披露而未披露的負面事件。
清晰性
本報告以簡體中文、繁體中文和英文發佈。本報告中包含表格、模型圖以及公司遵守的法律法規及相關政策列表等信息，作為本報告中文字內容的輔助，便於利益相關方更好地理解報告中文字內容。為便於利益相關方更快獲取信息，本報告提供目錄及ESG標準的對標索引表。
量化性
本報告披露關鍵定量披露項，並盡可能披露歷史數據。
可比性
本報告對同一定量披露項在不同報告期內的統計及披露方式保持一致；若數據的採集、測量與計算方法有更改，對相關數據進行追溯調整，並在報告附註中說明調整的情況和原因，以便利益相關方進行有意義的分析，評估公司ESG數據水平發展趨勢。
完整性本報告披露對象範圍與公司合併財務報表範圍保持一致。
時效性
本報告為年度報告，覆蓋時間範圍為2024年1月1日至2024年12月31日。
可驗證性
本報告中案例和數據來自公司實際運行的原始記錄或財務報告。公司所披露數據來源及計算過程均可追溯，可用於支持外部鑑證工作檢查。214華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司215
2024年度環境、社會及管治報告
董事會ESG管理聲明
公司秉承「知難而進、奮發圖強」的企業精神，以持續創新，為全球客戶製造「芯」夢想為願景，堅持「8英寸+12英寸」、先進「特色IC + Power Discrete」的發展戰略，為客戶提供多元化的晶圓代工和配套服務，有力支持新能源汽車、綠色能源、物聯網等新興領域應用，以卓越的質量管理體系滿足汽車電子芯片的要求。
公司董事會高度重視環境、社會及管治(ESG)事宜，將其視為公司可持續發展戰略的核心組成部分，指導公司ESG管理方針和發展戰略，指導識別和判定重要ESG議題，董事及高管定期監督審閱公司ESG目標的進展，以確保公司在環境保護、社會責任及公司治理方面持續改進。
報告期內，公司重新制定了ESG管理目標，將以先進標準為引領，系統化提升能源管控、水循環利用、溫室氣體排放和廢棄物等領域的全週期管理效能，積極響應國家「雙碳」戰略導向，通過數據化治理體系構建，並深度融入ESG標準，深挖綠色經濟機遇，在清潔技術應用和產業鏈佈局中展現戰略定力，堅定在可持續發展道路上砥礪前行的決心。
報告期內，公司通過責任商業聯盟(Responsible Business Alliance)鉑金級(Platinum Award)的審核認證，聚焦員工權益、環境責任、健康安全、商業道德和管理體系等關鍵領域，在生產運營中踐行社會責任，確保綠色、健康和可持續發展。本報告中有關ESG議題上的管理實踐與進展，均經本公司董事會會議審議通過。214 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 215
2024年度環境、社會及管治報告
1.議題重要性評估
1.1雙重重要性分析
公司遵守香港聯合交易所《環境、社會及管治報告指引》、上海證券交易所《上市公司自律監管指引第14號－可持續發展報告（試行）》（簡稱「上交所《指引》」），參考全球可持續發展標準委員會《GRI可持續發展報告標準》等國際可持續信息披露標準，從影響重要性和財務重要性的雙重視角對各ESG議題進行分析和評估，以確定重要性議題。
華虹半導體2024年議題雙重重要性分析流程流程具體內容
步驟一*了解公司的戰略規劃。
了解公司活動和業務關係背景*了解公司所處的外部市場環境。
*了解產生影響的價值鏈環節及關鍵利益相關方。
步驟二*與關鍵利益相關方進行溝通，結合行業背景和公司實踐，開展利益相關方溝通、議題識別和盡職調查識別並確定與公司相關的議題。
*通過溝通、調研、訪談等形式，面向各利益相關方開展盡職調查，分析並確定議題影響、風險和機遇。
步驟三*通過科學有效的評價方式設定關鍵指標及判斷標準。
議題重要性評估*邀請公司高管及財務負責人對議題的財務重要性進行評估，邀請員工、供應商、客戶等利益相關方對議題的影響重要性進行評估，確定議題重要性排序。
步驟四*經公司董事會審核確認，就2024年度重要性較高的議題在議題確認與披露報告中進行重點披露。216華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司217
2024年度環境、社會及管治報告
1.2利益相關方溝通、盡職調查
根據公司自身業務和運營特點，對標國內外行業的經驗和實踐，華虹半導體將主要利益相關方確定為股東及高級管理層、客戶、員工、政府及監管機構、合作夥伴、社區及公眾，並建立利益相關方溝通機制，通過網站、媒體、會議、報告、活動等渠道和方式，保持與利益相關方的密切溝通，對利益相關方的關切進行及時回應。
華虹半導體利益相關方關注議題及溝通方式關鍵利益相關方相關方說明關注的議題溝通與回應方式
股東及高級管理層對公司進行股權、債權投資的*公司治理*財務報告、業績報告、上
國內外投資人及公司高級管理 * 風險合規管理 證e互動、郵件、路演
層員工*商業道德*風險管理體系
*產品和服務安全與質量*反腐敗機制
*全方位審計
*質量評審
客戶 集成器件製造商及無廠半導體 * 信息安全與隱私保護 * 信息安全管理體系(ISMS)
公司 * 產品和服務安全與質量 * ISO9001等質量管理體系
*研發創新與知識產權保護認證
*綠色產品*客戶滿意度調查
*清潔技術機遇*技術研討會、行業交流會
*循環經濟*產品全生命週期管理
員工公司員工，以及常年服務於公*員工權益及福利*員工權益保障體系司業務的人員*員工健康與安全*安全風險分級管控與隱患
*員工發展與培訓排查治理雙重預防機制
*覆蓋全層級的員工培訓課
程216華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司217
2024年度環境、社會及管治報告
關鍵利益相關方相關方說明關注的議題溝通與回應方式
政府及監管機構稅務、環保、安全等部門，地*合規經營*合規內控體系方政府以及監管機構（如證監*排放物與廢棄物管理*碳盤查報告會等）*能源管理*工廠運營區域水資源風險
*水資源管理評估
*氣候變化減緩與適應*環境信息公示
合作夥伴供應商、研究院校、行業協會*研發創新與知識產權保護*行業交流
等 * 可持續供應鏈管理 * 責任商業聯盟(RBA)認證
*循環經濟*本土供應商多元化
*供應商社會責任審核機制
社區及公眾運營所在地社區、社會公眾、*社區與公益*社區活動、志願者活動、
媒體等*排放物與廢棄物管理公益活動、社會事業支持項目等
*環境信息公示
公司建立並逐步完善盡職調查機制，委任ESG工作組牽頭，協調各部門開展利益相關方溝通、訪談、調研等盡職調查工作，以分析、識別和確定ESG議題在短期（1年以內）、中期（1年至5年）和長期（5年以上）的影響、風險和機遇，便於針對性開展應對措施。
華虹半導體2024年議題影響、風險和機遇分析價值鏈範圍序號議題時間範圍主要風險與機遇類型價值鏈上游自身運營價值鏈下游
1氣候變化減短、中、長風險：隨着全球持續加強氣候和環保政√√√
緩與適應期策及碳排放管控措施，可能面臨不斷增加的合規運營成本和低碳技術升級需求
機遇：公司在氣候友好型技術方面的創新投入，研發更高效、更環保的產品，能夠提升市場競爭力和品牌聲譽218華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司219
2024年度環境、社會及管治報告
價值鏈範圍序號議題時間範圍主要風險與機遇類型價值鏈上游自身運營價值鏈下游
2能源管理短、中、長風險：能源管理體系優化，可能造成額√√√
期外的成本支出，也可能導致重視能效管理表現的客戶和投資者對公司表現提出質疑
機遇：隨着技術進步，太陽能、風能等可再生能源的發電成本持續下降，長期來看能夠為公司提供穩定且低成本的能源選擇，降低對傳統化石能源的依賴
3水資源管理中、長期風險：若公司生產運營出現水資源短√缺，導致生產停水、水質不穩定等問題發生，可能影響產能及產品合格率，造成成本投入和營收損失
機遇：完善的水資源管理體系有助於提
高資源使用效率，降低運營成本
4排放物與廢中、長期風險：隨着合規排放監管趨嚴，公司可√√
棄物管理能需要投入資金以確保生產過程和廢棄
物管理符合新的法規要求，例如升級處理設施或引入新的排放處理技術
機遇：通過提高廢棄物的回收率，有助於將廢棄物轉化為可再利用的資源，降低原材料採購成本
5環境管理中、長期風險：隨着環保相關法規的出台及迭√√√代，公司需持續關注並進行監測，確保其運營符合所有相關環境法律法規，如不合規可能導致罰款、制裁或生產限制
機遇：良好的環境管理實踐可能吸引更
多關注ESG風險的投資者和客戶，從而加強公司的資本市場形象和市場聲譽218華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司219
2024年度環境、社會及管治報告
價值鏈範圍序號議題時間範圍主要風險與機遇類型價值鏈上游自身運營價值鏈下游
6綠色產品短、中、長風險：在技術快速發展的環境中，如果√√
期公司未能及時更新產品設計和生產工藝，可能會落後於競爭對手，影響市場份額
機遇：通過有效的產品生命週期管理，公司能夠快速響應市場需求和技術進步，推動產品創新和多樣化
7循環經濟中、長期風險：對原材料和廢棄物的循環利用，√√√
如若未形成配套的管理和運營機制，產品質量可能會受到影響
機遇：通過提高資源效率，公司能夠降低原材料採購成本和廢棄物處理費用，進而提高整體運營效率
8清潔技術機中、長期風險：清潔技術領域的快速發展，若公√√
遇司未能及時跟上技術進步，可能會面臨產品競爭力下降的風險
機遇：隨着全球對綠色清潔技術及產品
的需求日益增加，通過創新清潔技術有利於拓展市場份額和創造新的營收增長點
9員工健康與中、長期風險：在高強度的生產環境中，事故和√√
安全傷害的風險始終存在，若未能有效管理安全措施可能導致員工受傷或甚至出現更嚴重的事故
機遇：通過加強職業健康與安全管理，有助於提高安全標準，減少事故發生，降低潛在的法律和財務風險，創造一個更安全的工作環境220華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司221
2024年度環境、社會及管治報告
價值鏈範圍序號議題時間範圍主要風險與機遇類型價值鏈上游自身運營價值鏈下游
10員工權益與中、長期風險：關鍵員工的離職可能導致公司失√
福利去重要的行業和技能知識，影響項目的推進和執行效率
機遇：規範的員工僱傭政策和良好的工
作環境有助於保證人才的穩定性，助力公司運營及業務端的可持續發展
11員工發展與中、長期風險：若未能開展高質量的培訓，可能√
培訓導致員工專業知識和管理能力無法符合
公司經營的需要，影響產品質量以及人員管理的有效性
機遇：高質量的培訓有助於培養員工的
創新思維和解決問題的能力，使公司能夠更好地適應市場變化和技術進步，提升競爭優勢
12產品和服務短、中、長風險：產品質量和客戶服務不到位可能√√√
安全與質量期會增加售後服務和維護的成本，從而導致額外的人力成本和召回處理的費用，也可能導致客戶流失和營收下降
機遇：通過完善的產品質量管理體系和
客戶關係管理體系，有利於提高公司的產品競爭力，提升客戶滿意度，從而增強客戶忠誠度，進而推動營收增長220華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司221
2024年度環境、社會及管治報告
價值鏈範圍序號議題時間範圍主要風險與機遇類型價值鏈上游自身運營價值鏈下游
13信息安全與中、長期風險：不斷加強網絡安全基礎設施建√√
隱私保護設，需要持續投入資金和資源，包括防火牆、入侵檢測系統和數據加密技術等，以降低網絡攻擊的風險機遇：有效的信息安全管理不僅能吸引
更多注重隱私保護的客戶，還能提升公司的品牌形象，提高市場份額，促進銷售增長
14可持續供應中、長期風險：為確保供應鏈的穩定性和可持續√√
鏈管理性，公司可能需要尋找更多元化的供應商，也可能需要支付更多的成本實施採購，以滿足環境和社會責任的標準，因此可能影響利潤率、降低競爭優勢
機遇：建立可持續供應鏈可以增強公司
對環境和社會風險的識別和管理能力，提高整體運營的韌性，降低潛在的業務風險
15研發創新與短、中、長風險：新技術或新產品的市場認可度和√√√
知識產權保期接受度可能達不到預期，從而影響銷售護額、降低公司的收入和盈利能力
機遇：在技術創新領域取得成功的公司
往往更能吸引投資者的關注，研發成就可能為公司帶來更多的融資機會，創造新的業務機遇222華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司223
2024年度環境、社會及管治報告
價值鏈範圍序號議題時間範圍主要風險與機遇類型價值鏈上游自身運營價值鏈下游
16社區與公益短、中、長風險：如果公司開展公益活動或履行社√
期會責任的表現未滿足公眾期待，可能損害公司的品牌形象和聲譽
機遇：在特定社區的參與和投資可以幫
助公司更好地理解當地市場需求，抓住市場拓展機會，增強競爭優勢
17公司治理中、長期風險：不合規的公司治理可能引發監管√√√
機構的調查和罰款，影響公司的財務健康
機遇：良好的治理實踐可以吸引更多的投資者，加強風控能力，有助於獲得投資者信任及推動公司高質量發展
18商業道德中、長期風險：違反商業道德的行為可能引發法√√√律訴訟，導致高額的賠償和罰款，增加公司的財務負擔
機遇：通過改善治理結構和提升透明度
來增強內部控制及風險管控水平，有助於減少違規風險
19風險合規管中、長期風險：若未能遵循相關法律法規，可能√√√
理面臨法律訴訟、罰款或制裁，導致公司聲譽受損，影響市場信任機遇：通過優化內部流程和系統來提高
運營效率，降低潛在的合規風險，有助於企業長期發展並減少合規成本支出222華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司223
2024年度環境、社會及管治報告
1.3議題重要性分析結論
2024年，經過議題的雙重重要性分析，在華虹半導體篩選出的19項議題中，共有7項議題具有雙重重要性，2項議題僅具
有財務重要性，9項議題僅具有影響重要性，1項議題既不具有財務重要性、又不具有影響重要性，具體包括：
*具有雙重重要性的議題：研發創新與知識產權保護、氣候變化減緩與適應、水資源管理、能源管理、環境管理、可持
續供應鏈管理、員工健康與安全；
*僅具有財務重要性的議題：信息安全與隱私保護、商業道德；
*僅具有影響重要性的議題：綠色產品、清潔技術機遇、循環經濟、員工發展與培訓、產品和服務安全與質量、排放物
與廢棄物管理、風險合規管理、員工權益與福利、公司治理；
*既不具有財務重要性、又不具有影響重要性的議題：社區與公益。
華虹半導體2024年議題重要性矩陣圖非常重要綠色產品研發創新與知識產權保護清潔技術機遇氣候變化減緩與適應循環經濟產品和服務安全與質量員工發展與培訓水資源管理同時具有財務重要性能源管理排放物與廢棄物管理與影響重要性環境管理可持續供應鏈管理風險合規管理員工權益與福利員工健康與安全具有財務重要性公司治理但不具有影響重要性信息安全與隱私保護商業道德具有影響重要性但不具有財務重要性社區與公益既不具有財務重要性也不具有影響重要性非常重要不重要對公司財務的重要性
對經濟、社會和環境影響的重要性224華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司225
2024年度環境、社會及管治報告
註：上交所《指引》所設置的21項議題中，公司不涉及「生態系統和生物多樣性保護」「科技倫理」議題；「盡職調查」「利益相關方溝通」作為ESG議題識別、評估與管理的流程，於「議題重要性」評估章節進行響應，不作為ESG議題納入矩陣，其餘《指引》議題均在報告正文或索引表進行響應，具體章節對應及解釋說明請見「對標索引表《上海證券交易所上市公司自律監管指引第14號－可持續發展報告（試行）》」。此外，公司自主識別「綠色產品」「清潔技術機遇」「風險合規管理」「公司治理」議題，均於報告正文進行回應。
2. ESG管理體系
2.1 ESG管理架構
公司秉承「持續創新，為全球客戶製造『芯』夢想」的願景，成立了自上而下的環境、社會及管治(ESG)管理架構，並持續完善ESG管理體系，創新驅動發展，培養創新人才，努力降低運營對環境產生的影響，並推進供應鏈多元化，促進企業商業價值和社會價值的共同創造。
董事會是公司ESG管理的最高決策╱管理機構，承擔以下職責：
* 指導公司ESG管理方針及策略的制定，確保其與時並進、切合所需，並符合適用的法律及監管要求；
* 指導公司重要ESG議題的識別和重要性程度判定；
* 監督公司ESG目標的制定和實施，包括：制定公司ESG管理績效目標；監督目標實現的進度，並就實現目標所需採取的行動提供建議；
* 審閱並批准公司年度的《環境、社會及管治報告》及其他ESG相關披露信息。
經營管理層根據制定的ESG目標，負責監督總體落實情況；ESG工作組負責識別ESG議題的影響、風險和機遇，制定ESG策略和管理方針，協助各相關部門落實ESG管理工作，並定期向經營管理層及董事會報告ESG關鍵績效指標的進度，推進公司ESG管理目標的實現。224 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 225
2024年度環境、社會及管治報告
ESG管理架構決策層董事會經營管理層實施層
ESG工作組
綜合管理部 合規部 內審部 採購部 EHS 品保部
計劃部人力資源財務部市場部工會226華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司227
2024年度環境、社會及管治報告
2.2 ESG管理策略和目標
公司把ESG管理融入產品、業務運營及企業發展中，形成了「員工責任」「產業責任」「民生責任」「投資人責任」四大維度的ESG管理策略。
ESG管理策略員工責任產業責任
為員工實現「心」價值為客戶創造「芯」夢想尊重員工價值品質產品服務關愛員工成長客戶權益保障保障職業健康繁榮產業經濟持續創新為全球客戶
製造「芯」夢想
為社會構建「欣」生態為股東創造「新」利潤推動綠色發展創新驅動發展資源高效利用夯實誠信經營共促社會和諧共享中國發展
民生責任投資人責任226華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司227
2024年度環境、社會及管治報告
公司根據業務發展情況、自身運營過程中的ESG表現，制定了用水效益、能源使用效益、減少溫室氣體排放、減少污染物、減少廢棄物、衝突礦產盡職調查的ESG管理目標，經營管理層及董事會每年審視公司上一年度ESG績效及ESG管理目標達成情況，並在ESG報告中披露進展，從而推動ESG管理目標的實現。
層面目標2024年度進展水資源管理2030年單位產品耗水量（1立方米╱8英寸單位產品耗水量為2.76立方米╱8英寸晶圓，較晶圓）較2023年減少5%2023年減少2.49%能源使用管理2030年單位產品綜合能源消耗量（兆瓦單位產品綜合能源消耗量為0.27兆瓦時╱8英寸晶時╱8英寸晶圓）較2023年減少10%圓，較2023年減少9.08%溫室氣體排放管理2030年單位產品溫室氣體排放量（噸二氧化2024年單位產品溫室氣體排放量為0.12噸二氧化碳碳當量╱8英寸晶圓）較2023年減少10%當量╱8英寸晶圓，較2023年(0.14)減少9.53%廢棄物排放管理2030年單位產品廢棄物產生量（千克╱8英單位產品廢棄物產生量為8.29千克╱8英寸晶圓，寸晶圓數）較2023年下降4%較2023年增加8.41%
廢水排放管理 COD廢水污染物排放濃度優於排放標準 上海基地：COD平均排放濃度為65.70毫克╱升，
30%以上排放標準為500毫克╱升，優於排放標準30%以上
無錫基地：COD平均排放濃度為29.90毫克╱升，排放標準為50毫克╱升，優於排放標準30%以上廢氣排放管理 VOCs廢氣污染物排放濃度優於排放標準 上海基地：VOCs平均排放濃度為5.35毫克╱立方
30%以上米，排放標準為50毫克╱立方米，優於排放標準
30%以上
無錫基地：VOCs平均排放濃度為0.33毫克╱立方米，排放標準為100毫克╱立方米，優於排放標準
30%以上
可持續供應鏈管理開展供應商衝突礦產盡職調查率達100%，對「衝突礦產」供應商進行盡職調查，覆蓋率達且合規礦產使用率達100%100%，並完成最新版衝突礦產和擴展礦物調查報告供應商全部使用合規原物料，合規礦產使用率達
100%
1單位產品耗水量=市政供水的用水量╱年產量，不含循環用水等其他用水來源。228華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司229
2024年度環境、社會及管治報告
華虹半導體2024年所獲榮譽及認可序號榮譽全球
1 Responsible Business Alliance Platinum Award
全國
2國家科學技術進步獎二等獎
3全國工人先鋒號
4全國職工職業道德建設標兵單位
上海市
5上海市質量技術進步獎－優秀獎
6第三十五屆上海市優秀發明金獎
7上海市2024年度（第二批）綠色製造示範名單－綠色工廠
8上海市優秀院士工作站
9上海市工人先鋒號
10上海職工勞動和技能競賽優秀集體一等獎
11上海職工優秀創新成果獎二等獎
12上海市職工先進操作法優秀成果獎
13上海市職工合理化建議創新獎
江蘇省
14無錫市幸福企業建設示範單位
15無錫市模範職工之家
3.節能減排，應對氣候變化
3.1氣候變化減緩與適應
華虹半導體運營過程中直接溫室氣體排放來源為天然氣、汽油、柴油等能源燃燒及工藝過程的逸散排放，間接溫室氣體排放來源為外購熱力、外購電力。公司參考國際可持續準則理事會(ISSB)《 國際財務報告可持續披露準則第2號－氣候相關披露》（ 簡稱「IFRS S2」），搭建自上而下的氣候治理架構，制定應對氣候變化的發展戰略，提升應對氣候變化的適應性，並逐步減少自身運營對環境的影響。
華虹半導體氣候變化管理體系
治理*董事會定期審議氣候相關的風險和機遇，以及氣候變化應對策略和管理目標，並定期檢視目標的完成進展。
* ESG工作組負責制定氣候變化應對策略和管理目標。根據外部監管和市場需求，及時調整管理方針的時效性，監督各工廠執行相關工作，定期向董事會匯報工作進展。
*各工廠負責執行具體工作，如核查溫室氣體排放情況，通過實際行動減少溫室氣體排放，定期收集和匯總溫室氣體排放數據，自查目標達成情況。228華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司229
2024年度環境、社會及管治報告
戰略*識別氣候變化相關的風險，包括轉型風險和實體風險。通過情景分析，評估氣候變化風險帶來的財務影響。
a) 轉型風險：積極響應排放控制政策的系列措施，通過精益生產、綠色採購、改進生產工藝、更換非必要的高能耗設備等舉措持續降低溫室氣體排放量，詳見「能源管理」章節。
b) 市場機遇：擴展產品應用於風能光伏發電、白色家電、汽車電子產業的發展機會，詳見「清潔技術機遇」章節。
c) 產品機遇：研發低功耗綠色產品，利用自身工藝優勢減少消費端的溫室氣體排放。
通過產品全生命週期管理減少產品碳足跡，詳見「綠色產品」章節。
*將清潔技術創新作為核心戰略之一，將氣候變化戰略納入公司業務發展戰略中，如資源使用效率、能源來源、產品和服務機遇。
影響、風險和機遇管理*將氣候相關風險和機遇的管理融入環境風險管理體系，針對具有重要性的氣候相關風險和機遇，制定應對策略並落實管理舉措。
* 開展ISO14064-1溫室氣體排放核查認證工作，系統性識別溫室氣體排放源，核查溫室氣體排放情況。
指標與目標 * 通過ESG報告每年公開披露溫室氣體排放數據，並匯報管理目標及目標達成情況。
*溫室氣體管理目標：2030年單位產品溫室氣體排放量（噸二氧化碳當量╱8英寸晶圓）較
2023年減少10%。
*目標達成情況：2024年單位產品溫室氣體排放量為0.12噸二氧化碳當量╱8英寸晶圓，較2023年減少9.53%。
公司定期識別氣候相關風險和機遇，評估氣候變化對業務發展和商業模式的影響，分析潛在的財務影響，以更好地調整策略和管理方針，不斷完善氣候變化的應對措施。230華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司231
2024年度環境、社會及管治報告
華虹半導體氣候相關風險和機遇的潛在財務影響及應對措施氣候相關風險與機遇識別結果潛在財務影響應對措施
風險轉型風險聲譽風險－每年公開披露溫室氣體排放情
隨着低碳經濟轉型，各利益相關方期望企況，匯報單位產品溫室氣體排放業在應對氣候行動方面採取積極的管理行量目標進展。
動並提升信息披露透明性。如果公司無法營業收入減少很好地回應這些利益相關方的訴求，會對 － 依據IFRS S2披露氣候變化減緩與自身的聲譽產生負面影響。適應工作，與利益相關方匯報工作進展。
政策法律風險－每年開展碳核算工作，按時完成中國已制定「雙碳」目標，未來對企業碳排相關部委的碳配額排放履約清繳放的監管力度也將不斷提升。若公司碳排工作。
放量無法滿足監管要求，需要購買碳配額營運成本增加
或國家核證自願減排量(CCER)，帶來額 － 公司年度碳排放量不超過碳配額外的營運成本；若未按時足額清繳碳排放限值，無需支付額外成本。
配額的，將面臨政府部門的限期改正等處罰。
市場風險－通過工藝技術升級、生產設備性
客戶以及消費者愈加關注產品的可持續能提升等措施，減少溫室氣體排性，對產品碳足跡、產品能耗水平不斷提 放，如採用高清洗效率NF3替代出更高的要求。如果公司提供的產品與服 C2F6，減少氟碳化合物的使用，務無法及時有效地滿足市場需求，將會失營業收入減少從而每年減少溫室氣體排放。
去市場優勢。
－開發更低功耗與更高效能的產品，助力下游產業能效提升，減少價值鏈上的溫室氣體排放。230華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司231
2024年度環境、社會及管治報告
氣候相關風險與機遇識別結果潛在財務影響應對措施
實體風險急性實體風險－制定極端天氣應對應急預案。
公司經營位於上海、無錫等沿海地區，可固定資產價值能面臨颱風、暴雨等氣候災害，可能會破降低－定期開展自然災害事故應急演練壞基礎設施等固定資產，造成經濟損失。以及培訓。
慢性實體風險氣候變化導致的持續性高溫天氣等可能會營業收入減少
導致公司業務營運中斷，造成營業收入降低。
機遇資源使用效率－華虹七廠（無錫）12英寸生產線獲
提高資源使用效率，包括能源、水資源 美國綠色建築委員會(USGBC)認營運成本降低等，能夠幫助公司降低運營過程中的營運 證的LEED「能源與環境設計先鋒」成本。金獎。
能源來源－制定屋頂光伏建設計劃，使用可在生產活動中提高清潔能源的使用，減少再生能源代替不可再生能源，提營運成本降低
對化石能源的依賴，從長期來看，減少購高綠色電力佔比。
買市政電力的成本。
產品與服務－公司擁有非易失性存儲器
公司產品廣泛應用於家用電器的能源解決 ( e N V M ) 、高性能微控制器
方案、光伏儲能產業從發電到用電各環 (MCU)、單晶片集成工藝(BCD)，營業收入增加節，相關產業對於芯片的需求也不斷擴在新能源發電產業、家用電器應大，為公司帶來營業收入的增長。用領域的製造工藝方面積累了豐富的技術與經驗。
報告期內，公司依據上海市經濟和信息化委員會發佈的《關於開展2023年度工業和通信業重點用能單位碳排放雙控責任評價考核工作（試點）的通知》，完成碳排放雙控責任評價考核自查報告，從管理層面和設備層面減少公司生產運營產生的溫室氣體，逐步實現綠色低碳轉型。232華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司233
2024年度環境、社會及管治報告
公司上海基地（華虹一廠、二廠、三廠）是上海市碳排放配額管理單位，每年開展溫室氣體排放報告的第三方核查工作，並於每年年末完成下一年度數據總量控制計劃。報告期內，公司按時完成履約清繳工作，清繳配額量為251024噸。
3.2能源管理
華虹半導體致力於打造集綠色技術、綠色生產、綠色建築於一體的綠色企業，實現環境友好和可持續發展。公司的能源使用種類有電力、熱力、天然氣、汽油、柴油，其中電力、熱力、天然氣來自於市政供應，對周邊環境和自然資源不構成重大影響。
治理
公司遵守《中華人民共和國能源法》《中華人民共和國節約能源法》，制定了《資源、能源管理程序》《用水，電，蒸汽，燃氣計量管理制度》等制度。報告期內，公司根據ISO50001完善能源管理體系，梳理並更新能源管理制度，以進一步規範能源管理工作。
公司建立了「董事會－管理層－ESG工作組」的三級能源管理架構。董事會負責審議能源管理策略，監督目標達成情況；
管理層負責制定能源管理策略和目標，推動各生產基地和部門執行相關工作，監督目標達成情況並向董事會匯報；ESG工作組牽頭各生產基地的EHS、動力、生產部門負責制定具體行動路徑，執行和實現管理策略。
戰略
公司將節約能源視為重要的戰略發展方向，一方面通過節能技改降低能源消耗總量，積極應對政府監管部門的能耗考核要求，降低政策風險；另一方面統籌建設光伏發電設施，規避因市政能源供應中斷造成的運營風險，及因能源短缺價格上漲帶來的額外運營成本。
公司積極將生產潔淨化、能源低碳化理念貫穿於生產運營過程，並將節能成效作為產品和服務機遇，打造對環境影響小的綠色產品，通過產品生態設計、餘熱利用、節能改造等方式建設綠色工廠。2024年12月，華虹一廠榮獲上海市2024年度
（第二批）綠色製造示範名單－「綠色工廠」稱號。
影響、風險和機遇管理
為應對能源供應中斷帶來的運營風險，公司制定了《緊急卸載應急預案》《緊急停電應急預案》《供電停止情況時動力部現場處置方案》《供電回路開關跳閘應急預案》等操作規程，針對各項突發停電情景，開展應急處置培訓及演練，提高工作人員能源管理的能力。232華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司233
2024年度環境、社會及管治報告
隨着當地政府對於能源消耗量的監管要求趨於嚴格，公司制定高於監管要求的內部管理目標，減緩政策風險帶來的影響。
公司響應《上海市工業和通信業節能降碳「百一」行動計劃(2022-2025)》，認真執行「3000噸標煤的節能項目規劃」，2024年全面完成「十四五」能源審計工作確定的15項節能改造項目，實現節能量3339噸標煤。
指標與目標
公司制定了整體能源管理目標，並拆分下達給各生產基地執行，日常監控各生產環節用能情況，定期檢視目標達成進展。
華虹半導體2024年能源管理指標與目標指標單位2023年績效2024年績效2030年目標2024年目標完成進展
單位產品綜合能源兆瓦時╱8英寸0.300.28較2023年減少較2023年減少5.91%－
消耗量晶圓10%目標過程中
榮譽與獎項*榮獲上海市2024年度綠色製造示範名單－綠色工廠為有效提升設備能效管理方面，公司依據上海市經濟和信息化委員會發佈的《關於開展工業和通信業企業重點用能設備能效對標及更新改造的通知》，完成主要用能設備的能耗統計，制定設備能效升級和更新改造工作計劃。
華虹半導體2024年節能舉措及成果主體具體措施成果
上海基地 純水系統RO高壓泵變頻改造 * 年度節能28.23噸標煤
eFlash平台減少工藝流程步驟3%，縮短製造 * 年度節電96萬千瓦時週期4%
建設智慧能源管理平台*年度節電320萬千瓦時打造高效冷凍機房
冷凍機冷郤水熱能回收改造*年度節約天然氣18.8萬立方米234華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司235
2024年度環境、社會及管治報告
報告期內，公司主要能源消耗情況如下：
電力消耗總量電力消耗強度
單位：兆瓦時單位：千瓦時╱8英寸晶圓
1104828.92
1030352.33
262.19
954667.00
248.00242.86
228.00
867682.00
20212022202320242021202220232024
天然氣消耗總量天然氣消耗強度
單位：立方米單位：立方米╱8英寸晶圓
11630543.00
11456569.004.49
11048312.003.27
2.81
2.56
10530287.00
20212022202320242021202220232024
註：2023年無錫生產基地擴產項目投產，並於2024年擴大產能，電力及天然氣消耗的總量有所增加，但2024年能源消耗強度指標均有所降低。234華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司235
2024年度環境、社會及管治報告
3.3清潔技術機遇
華虹半導體積極響應「雙碳」經濟號召，紮實推進「8英寸+12英寸」及先進「特色IC + Power Discrete」雙核引擎戰略，全力支持全產業鏈生態建設。華虹技術不斷研發創新，拓展特色工藝優勢，圍繞智能終端、通信、物聯網、汽車電子等領域，不僅覆蓋高端消費類從IPM模塊到周邊控制與電源管理，還覆蓋電力產業鏈從發電端到用電端，同時還覆蓋汽車電子五大芯片系統等。
公司將清潔技術創新作為核心戰略之一，持續推進新生態鏈、新型應用的發展機會，嵌入式非易失性存儲器、電源管理技術、功率器件技術、閃存技術，助力客戶進一步深化汽車電子、高端家電、光伏和風力儲能相關的新能源領域佈局，把握清潔技術帶來的市場機遇，為未來的業務發展起到積極貢獻。
支援清潔能源發展產品功率器件非易失性存儲器功率分立器件是新能源發電與新型能源應用領域的非易失性存儲器工藝被大量使用在如微處理器
重要設備零部件。如光伏及風能發電設備、電動汽 (MCU)、專用集成電路(ASIC)等芯片應用中，同時這車、電動兩輪車，需要大量使用絕緣柵雙極型晶些芯片種類被大量應用於新能源發電設備中。
體管 (IGBT)、金屬－氧化物半導體場效應晶體管
(MOSFET)等器件。
公司在該領域積累了大量客戶，並長期保持領域內頭 根據IC Insights統計，全球MCU消耗市場中，車用部企業的良好合作關係，與深度的共同開發合作。至 市場佔比超過30%。華虹所有製造工廠均通過IATF今，功率分立器件營收規模已經成為公司佔比最大的16949汽車行業質量體系認證，為支持本土製造車用部分。半導體作出重要貢獻。236華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司237
2024年度環境、社會及管治報告
參與開發的新能源零部件及應用領域產品應用領域營收佔比
功率器件光伏及風能發電設備、電動汽車、電動兩輪車等31.0%
嵌入式非易失性存儲器新能源發電設備、電動汽車等26.3%助力新能源轉型技術開發進展汽車電子工業新能源高端消費電子
*通過供應鏈協同，助力客戶產品加*功率器件重點產品均實現了批量*與國內知名家電品牌公司合作，速進入相關模組廠與整機企業。供貨，並顯著提升市場份額，未提升國產替代率，持續推動高端來隨著國家對雙碳經濟的佈局和消費電子業務拓展。
*與國內主流車企建立直接合作關大力扶持，新能源市場的未來增係，從成熟晶片替代到重點難點專長可期。*國內知名家電品牌公司採用公司案合力攻關，共建可持續發展生態 工藝平台生產的IGBT、顯示觸摸體系等多維度合作。推薦成熟晶片控制晶片、指紋鎖晶片、電機控種類涉及汽車的動力系統、車身控制等產品，已逐步切入空調、冰制、座艙、底盤和安全、遠端控制箱等大家電市場。
及通信、ADAS、充電樁等各個領域，實現批量供貨。
*建立了公司級汽車電子資料庫並不斷完善。
公司將進一步推動能夠實現更高能效的硅基功率器件的開發，並啟動具備高功率密度、低能耗等特性的化合物半導體功率器件的開發工作，為變頻家電、新能源汽車等清潔能源運用領域產品提供不斷優化的解決方案，進一步提升能源使用效率。236華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司237
2024年度環境、社會及管治報告
4.精益生產，引領綠色未來
4.1環境管理
華虹半導體涉及生產製造的工廠包括上海基地及無錫基地，華虹一廠、二廠、三廠、七廠為水環境和環境風險重點監控單位，華虹三廠和華虹七廠為大氣環境重點監控單位，每年依法公開披露環境信息。
公司嚴格遵守國家《中華人民共和國環境保護法》及地方政府的環境管理規定，制定《工業用水供水系統標準作業程序》《污染物內控標準》《工業廢棄物管理作業規範》等內部制度。
治理
ESG工作組負責制定環境管理策略和管理目標，及時跟進所在地政府、行業標準監管要求，識別公司環境管理風險，監督各工廠在日常工作中環保合規，就重點事項向經管層匯報。
EHS部門負責統籌公司環境管理體系的建設事宜，涵蓋對能源與資源使用、排放物管理等方面的管理制度制定、績效分析及評估，協助外部機構對公司的環境管理體系開展的審核及檢測工作。
戰略
在廢水、廢氣污染物管理方面，公司持續提升環境治理水平為首要管理目標，將達標排放作為重要工作目標，避免因不合規排放給公司造成運營風險。公司周邊有寫字樓、小區等人群聚集場所，因此公司保障廢氣處理設施的正常運行，避免有害物質擴散至周邊環境，對社區居民呼吸系統及生態系統產生潛在暴露風險。
公司識別污染物從產生、收集、處理、排放過程中的風險，並通過定期監測和巡檢，確保環保設施正常運行以及廢氣、廢水處理達標。公司每年制定環境管理投入預算，開展環保技改項目，用於光刻膠使用設備改造、廢水回用等項目，減少原材料用量，延長化學品使用壽命，減少廢水廢氣排放量等，以減少運營生產環節對環境的影響。
公司重視工作人員應對突發環境事件的處置能力，避免因管理不當造成化學品洩露、火災、污染物直排等環境風險事件。
公司定期更新所有工廠的突發環境事件應急預案備案，每年制定應急演練年度計劃，開展突發環境事件應急演練，華虹一廠開展排氣處理系統意外停機現場處置演練、華虹二廠開展廢液洩漏現場處置演練、華虹三廠開展SiF4鋼瓶洩漏演練、華虹七廠開展化學品洩漏演練。
此外，公司制定綠色辦公策略，通過文化輸入、日常行為習慣規範、新員工宣貫及倡導等方式，加強員工的環保意識，推動綠色辦公的落實。238華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司239
2024年度環境、社會及管治報告
華虹半導體綠色文化實踐
節約辦公用紙*推行信息化辦公，減少紙張使用。
*大力提倡使用再生紙張，包括打印員工名片等，以支持循環再造。
節約用電*定期召開環境管理分享會，提高員工節約使用辦公資源和能源的意識。
*下班或長時間離開時關閉電源。
*合理設置空調溫度，夏季不低於26℃，冬季不高於20℃。
節約用水*培養員工的節約意識，張貼節約用水標識。
廢棄物處置*生活垃圾分類，根據營運所在地要求進行垃圾分類和清運工作。
*積極宣傳垃圾分類，提高員工的環保意識。
員工出行*鼓勵員工使用公共交通上下班。
*公司班車使用新能源汽車。
影響、風險和機遇管理
公司所在地區、所在行業的污染物排放標準不斷更新，公司為提前適應政策風險，內部採取更嚴格、高於監管要求的污染物排放標準。2024年，上海市更新《半導體行業污染物排放標準》，公司四家工廠分別制定《污染物內控標準》，提前應對日趨嚴格的環保監管要求。
公司定期識別、評估生產基地的環境風險點，完善環境管理體系，四家工廠均通過ISO14001: 2015體系認證。報告期內，公司未發生違反環境保護相關法律法規的事件。報告期內，公司足額繳納環境保護相關稅費。
華虹半導體環境管理體系認證情況主體認證名稱認證有效期
上海基地 ISO 14001：2015環境管理體系 2027年4月18日
無錫基地 ISO 14001：2015環境管理體系 2027年4月18日
公司運用安全管理審核追蹤系統，對在日常管理中發現的不符合環保規定的事項進行分析整理、列出清單，並通過系統定時提醒的方式，進行後續整改並跟蹤記錄。
指標與目標
公司設立了環境管理方面的整體目標，並由EHS部門牽頭定期的監測和評估，以檢視目標達成進展及管控措施的實際成效。2024年，公司投入11256萬元，開展安全環保與技術改造項目，持續完善環境管理設施。238華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司239
2024年度環境、社會及管治報告
華虹半導體2024年環境管理指標與目標指標單位2024年績效2024年目標環境違規事件數量件00
ISO14001生產基地覆蓋率 % 100 100
總環保支出元95057129–
4.2水資源管理公司主要用水來源是市政供水，少部分來自於純水製造過程中的回收用水和空調冷凝水。公司嚴格遵守《中華人民共和國水法》《上海市節約用水管理辦法》《江蘇省節約用水條例》等法律法規及相關規定，制定《工業用水供水系統標準作業程序》《自來水異常處置流程》等管理制度，檢測運營區域水資源供給及質量現狀，開展節水技改、生產廢水回用措施，並組織節水宣貫活動，從意識和行動上減少水資源浪費。
華虹半導體2024年生產運營用水概覽
14847.05萬立方米
1256.02萬立方米
市政用水生產及生活用水循環利用
1256.02萬立方米16103.06萬立方米14847.05萬立方米
873.50萬立方米
廢水達標處理
969.90萬立方米
廢水利用回收市政管網
873.50萬立方米96.40萬立方米240華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司241
2024年度環境、社會及管治報告
治理
公司搭建了「廠長－節水領導小組－節水管理小組」三級節水管理體系，節水領導小組由公司廠長任組長，確立工廠的水資源管理目標，制定用水管理條例，各部門開展有效措施確保目標和制度落實到位。同時，各廠設置節水管理小組，結合生產工藝、操作流程制定節水路徑，負責執行日常管理，監督用水情況，收集和匯報水資源消耗數據。
戰略
半導體製造對用水潔淨度具有特定要求，在生產過程中需要消耗大量的水資源，公司作為水資源依賴型企業，各個生產環節均涉及水資源的使用，部分涉及純水資源的使用。
公司深知水資源、純水資源的穩定供應對持續生產至關重要，公司提升水資源使用效率，增加回水利用的投資和舉措，減少因水資源價格提升和水資源短缺，而可能出現停水或水質不穩定等問題，確保公司的生產穩定運行及產品的良率。
為減少水資源可能帶來的運營風險，公司定期識別和監測運營過程中的水風險，評估物理風險、政策風險等發生的可能性與影響程度，建立相應的管理方針和應對策略。
影響、風險和機遇管理
公司通過節能減排舉措，不斷提升回水利用效能，減少對外購超純水、市政用水的依賴，通過RO反滲透膜製備超純水，並深度挖掘節水潛力，在多個生產環節回收利用水資源。
公司持續對工廠運營區域水資源現狀開展監測，通過使用外部工具－世界資源研究所（World Resources Institute，簡稱「WRI」）「輸水道水源風險地圖」(Aqueduct Water Risk Atlas)，對工廠生產運營的用水合理性及取水可能造成的影響進行分析，並採取措施降低用水風險。
華虹半導體WRI風險監測結果及應對措施
水風險檢測指標*水量風險：水資源壓力、地下水位下降、年際波動、季度波動、
乾旱、河流洪水風險。
*水質風險：沿海富營養化風險、未經處理的污水接觸。
*法律法規及聲譽風險：監管和聲譽風險、無飲用水風險、衛生風
險、ESG聲譽風險。240 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 241
2024年度環境、社會及管治報告
上海、無錫檢測結果水量風險*整體水量風險：極高
*水資源壓力：極高
*河流洪水風險：高
*乾旱風險：中－高
*地下水水位下降風險、年度季度波動：低－中
*海岸線洪水風險：低
水質風險*整體水質風險：中－高
*未經處理的污水接觸：高
*衛生風險：高
*沿海富營養化風險：低－中
法律法規及聲譽風險*整體法律法規和聲譽風險：中－高
*監管和聲譽風險：中－高
*無飲用水風險：低－中
* ESG聲譽風險：低－中
應對措施*建立了用水監測點，定期開展水平衡測試，計算廠內製程用水、回收水、廢水、生活用水。
*掌握用水流向、流量與回用水平，分析是否存在用水異常，並預估各用水單位之間的水量合理調配。
*升級或替換耗水較多的設備，提高用水效率。
*拓展水資源來源，將生產廢水處理達標後回用，循環利用純水製備的濃水和空調冷凝水等。
指標與目標
公司制定了整體水資源管理目標，並拆分下達給各生產基地執行，日常監控各生產環節用水情況，定期檢視目標達成進展。242華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司243
2024年度環境、社會及管治報告
華虹半導體2024年水資源管理指標與目標指標單位2023年績效2024年績效2030年目標2024年目標完成進展
單位產品用水量立方米╱8英寸晶圓2.832.76較2023年減少5%較2023年減少2.49%－目標過程中
榮譽與獎項*榮獲無錫新吳區節能減排先進企業榮譽。
公司通過節約用水、回收生產廢水用於對水質要求低的工序、對生產廢水處理後回用三種方式，加強水資源利用效率。公司在主要用水環節採取了節水措施，建設綜合廢水回收和處理系統，對生產廢水分類收集、篩選和回用。
華虹半導體2024年節水措施及成果主體行動措施年度節水成效上海基地廢水回用對反滲透濃水進行濃縮處理後回收利用；對機年度節水25萬噸
台淋洗水、儀表水、冷凝水等廢水處理後回收利用。
無錫基地廢水回用對反滲透濃水進行濃縮處理後回收利用；對機年度節水42萬噸
台淋洗水、儀表水、冷凝水等廢水處理後回收利用。
廢水回收系統改造對反洗廢水回收系統進行改造，增加回用水量。年度節水0.25萬噸
4.3排放與廢棄物管理
廢氣排放管理
公司生產過程中涉及到的大氣污染物包括硫酸霧(H2SO4)、氯化氫(HCl)、氮氧化物(NOx)、氨(NH3)、揮發性有機物(VOCs)等。
華虹半導體嚴格遵守《中華人民共和國大氣污染防治法》、上海市行業標準《半導體行業污染物排放標準》等法律法規及相關要求。報告期內，四家工廠分別制定《污染物內控標準》，內部採取更嚴格、高於監管要求的污染物排放控制標準。242華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司243
2024年度環境、社會及管治報告
華虹半導體廢氣污染物類型及處理方式類型處理方式
廢氣酸性廢氣通過預處理和洗滌塔集中處理，去除絕大部分成份後達標排放。
鹼性廢氣（主要為氨氣）通過洗滌塔進行淨化。
有機廢氣通過活性炭吸附或濃縮後燃燒處理進行淨化。
粉塵廢氣（主要為二氧化硅的細小顆粒物）通過除塵裝置去除。
公司每年制定檢測方案，導入在線監測設施，定期檢修廢氣處理設施，維持有效的廢氣處理效率，確保廢氣排放的合規性。公司積極應對監管要求，逐步推廣低VOCs含量清洗劑的使用，減少清洗工序中揮發性有機物帶來的無組織廢氣排放。2024年，公司廢氣檢測結果顯示，各類大氣污染物均實現達標排放。
華虹半導體2024年大氣污染物管理指標與目標指標單位基地2024年績效2024年目標2024年目標完成進展
年均VOCs排放濃度 毫克╱立方米 上海基地 5.35 優於排放標準（50） 排放濃度優於排放標準30%以
30%以上，即<35上，達成目標
無錫基地0.33優於排放標準（100）
30%以上，即<70
華虹半導體2024年大氣污染物減排措施及成果主體具體措施成果
上海基地 通過調研延長SPM tank(H2SO4+H2O2)化學品使用壽命 年度減少化學品硫酸使用57噸
無錫基地 減少清洗站點SPM使用量 年度減少硫酸霧排放0.66噸
鍋爐低碳燃燒器改造年度減少氮氧化物排放量0.94噸244華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司245
2024年度環境、社會及管治報告
廢水排放管理
公司嚴格遵守《中華人民共和國水污染防治法》《污水綜合排放標準》，上海生產基地遵守《電子工業水污染物排放標準》，無錫生產基地遵守《江蘇省半導體行業排放標準》。公司制定《造排水廢棄物出料操作手冊》《污染物內控標準》等內部管理制度，通過改進廢水處理工藝，拓展廢水回用環節等措施，減少廢水污染物的產生量。
上海基地和無錫基地均安裝廢水污染物在線檢測設備，排放濃度實時上傳至環境監管部門環境信息公開平台公示，環境信息可靠、透明、可追溯。
華虹半導體水污染物類型及處理方式類型處理方式
廢水 pH，COD，氨氮，氟離子等 經廢水處理系統，混凝沉澱、空氣吹脫、酸洗吸收、好氧生物接觸、酸鹼綜合、MBR等工藝處理，處理達標後排入市政污水管網，再經城鎮污水處理廠處置後排入自然水域報告期內，公司廢水檢測結果顯示，各類廢水污染物均實現達標排放。
華虹半導體2024年水污染物管理指標與目標指標單位基地2024年績效2024年目標2024年目標完成進展
年度COD排放濃度 毫克╱升 上海基地 65.7 優於排放標準（500） 排放濃度優於排放標準30%以
30%以上，即<350上，達成目標
無錫基地29.9優於排放標準（50）30%以上，即<35244華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司245
2024年度環境、社會及管治報告
華虹半導體2024年減少水污染物排放措施及成果具體措施成果
回收利用較清潔的清洗廢水，以減少由氫氟酸和去離子水(DHF)溶液清洗產生 減少DHF廢水排放10000噸╱年的廢水排放
55LP eFlash平台完成了到55LP Plus eFlash的切換，減少工藝流程步驟3%， 減少廢水排放3708噸╱年
縮短製造週期4%廢棄物管理
公司遵守《中華人民共和國固體廢物污染環境防治法》《危險廢物貯存污染物控制標準》，制定了《廢棄物管理程序》《工業廢棄物管理作業規範》等管理制度，規範廢棄物產生、暫存、轉移、處置的操作流程，並通過政府統一的環保管理系統對廢棄物處理方式及去向進行登記，確保廢棄物的處置去向有跡可循，由有合法資質的運輸單位和處置單位妥善回收利用或填埋焚燒。
報告期內，根據上海市生態環境局發佈的《關於進一步加強本市危險廢物規範化環境管理有關工作的通知》，公司建立危險廢棄物電子標籤應用管理系統，完成與上海市固廢系統實時對接，並新增《危險廢物電子標籤應用系統管理辦法》，規範危險廢棄物標籤電子化管理。
華虹半導體廢棄物類型及處理方式類型處理方式
無害廢棄物生活垃圾、廚餘垃圾交由營運所在地環衛部門定期進行統一清運
生產原料、辦公類用品廠內循環利用
污泥等填埋、製磚
有害廢棄物廢酸液、異丙醇、廢磷酸、有機廢液等交由適用企業，其他行業再利用，提高再利用率廢玻璃瓶、200L化學桶、實驗室廢液等 化學處理
抹布、塑料瓶、廢活性炭、廢樹脂、含砷廢物等焚燒
公司通過對廢棄物進行識別及歸類，採取相應合適的管理和重複利用方式，盡可能提升廢棄物的循環利用率。246華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司247
2024年度環境、社會及管治報告
華虹半導體2024年廢棄物管理指標與目標指標單位2023年績效2024年績效2030年目標2024年目標完成進展
單位產品廢棄物產生量千克╱8英寸晶圓數7.658.29較2023年下降4%較2023年增加8.41%－目標進程中
4.4循環經濟公司生產經營主要原材料類型包括硅片、石英、靶材、化學品等。為規範原材料的使用，公司制定了《原物料有效期管控方針》《關鍵物料的風險識別及應對措施》《關鍵物料風險分析表》等原材料管理制度，確保原材料在有效期內，關鍵物料無質量和安全異常。對於化學品和氣體等生產輔料，公司制定《物料管理科儲存化學品及氣體作業管理規範》，宣導安全的儲存及取用操作流程。
在規範原材料管理的基礎上，公司秉承「源頭減量」及「循環經濟」的理念，遵守《中華人民共和國循環經濟促進法》，盡可能減少原材料的使用，尤其是減少化學品的使用，進一步降低安全風險，並通過改進生產工藝、合理配置資源循環，減少資源浪費。
華虹半導體2024年節約原材料措施及成果主體具體措施成果
上海基地對光刻膠使用設備進行改造，以減少原材料消耗年光刻膠減量約1000升改進生產工藝，延長化學品使用壽命年節省氨水9100升、雙氧水4300升開展薄膜工藝改造項目年節省六氟乙烷1217千克
無錫基地調整工藝參數，減少清洗頻次年節省硫酸2520升年節省雙氧水420升
4.5綠色產品
化學品管控
公司生產製造過程中多道工序需要使用化學品，其中部分危險、有毒有害化學品需要特殊管理。246華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司247
2024年度環境、社會及管治報告
華虹半導體危險化學品類型類型名稱
易燃液體異丙醇、光刻膠、柴油氧化劑和有機過氧化物過氧化氫
有毒品磷化氫、氟
腐蝕品硫酸、鹽酸、氫氟酸、磷酸、混酸、氨水、氫氧化鈉
壓縮氣體和液化氣體氫氣、甲烷、硅烷、氮氣、氧氣、氬氣、氦氣、氨、氯
公司建立多項化學品管理制度，如《化學品管理程序》《化學品出入庫核查登記制度》《危險化學品安全管理規定》《危害性化學品管理辦法》，通過規範的標籤管理、出入庫登記管理，減少化學品操作風險。
公司設立了工廠化學品審查委員會，制定《化學物質審查規程》，事前綜合評估化學品供應商環保安全資質與風險防控能力，運用化學物質管理系統實施化學品使用、保管、廢棄的管理，管控化學品最大保管量，對使用消耗情況進行動態監控，確保化學物質的安全使用，消除因化學物質所引起的環境污染等。
華虹半導體危險化學品管理流程採購使用及廢棄
*化學品的購銷人員持證上*運輸危險化學品的車輛應*危險化學品使用嚴格按照崗，購買危險化學品時索專車專用，確保不發生安全操作規程進行；
取化學品安全技術說明書「跑、冒、滴、漏」；*對需廢棄處理的危險化學
和化學品安全標籤。*化學品按性能分區、分品由專人收集，送往公司類、分庫儲存，設有專人危險廢棄物倉庫，再交危管理，並定期巡查。廢處置單位統一處置。
運輸及儲存248華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司249
2024年度環境、社會及管治報告
產品全生命週期管理
公司採取循環經濟理念，減少原材料用量，不斷挖掘廢水、能源、廢棄物的回用環節，減少產品全生命週期對環境的影響。
華虹半導體產品全生命週期環境管理原材料入庫產品生產產品運輸終端產品使用產品廢棄
*對原材料進行有害*選擇低能耗高效能*盡可能採用環保材*研發低功耗、高性*晶圓均通過有害物
物質審查與系統管的生產設備，減少質的包裝能的芯片，減少對質檢測，在廢棄後控原材料和能源的使*對包裝材料進行回環境的影響能減少對環境的影
*對供應商開展資質用收與重複利用*研發面積更小更高響
和環境合規的審*生產廢水處理達標*優化運輸路線，減效能的新品，減少*終端產品由消費者查，並要求供應商後，回用於生產，少重複運輸及空載對環境的污染作為電子垃圾投簽署《環保承諾書》提升廢水回用率運輸放，經有資質的機*優化生產技術及污構無害化處置，部染處理工藝，減少分零部件或金屬拆廢水、廢氣產生解提煉後回收利用248華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司249
2024年度環境、社會及管治報告
5.關愛員工，促進和諧發展
5.1員工權益與福利
員工僱傭與招聘
公司員工僱傭類型為全職勞動合同工、勞務派遣工和其他用工形式（退休返聘工和實習生）。在員工僱傭與招聘過程中，華虹半導體嚴格遵守《中華人民共和國勞動合同法》《中華人民共和國婦女權益保障法》，堅持公平用工、貫徹同工同酬的原則，確保員工不因其年齡、性別、籍貫、宗教信仰、婚姻狀況或殘疾等非工作因素受到歧視或差別待遇，並嚴禁僱傭童工或強制勞工。
公司制定《僱傭規程》《實習生管理規程》《離職管理規程》等內部制度，嚴格核查員工身份信息，不招聘未滿16周歲的員工。若核查發現有誤招童工的情況，應立即停用並調查整改，針對疏漏環節完善招聘審查流程。報告期內，公司未發生與員工招聘與解僱、工時與假期、晉升與平等機會、反歧視及多元化、僱傭童工及強制勞工相關的違法違規事件，也未有上述事項引起的訴訟案件發生。
為了更好地進行公司人才的儲備與培養，公司開展大學校園暑期實習生計劃，給在校學生提供實習的機會，以幫助其盡早地了解公司的企業文化、運作體系、管理模式等，為將來的就業與擇業做好準備。公司指派資深的專業員工為實習生進行工作、學習、生活上各方面的指導，並提供一定的工作報酬。
華虹半導體員工僱傭規範工時與招聘與離職薪酬民主參與休假制度
*招聘：堅持公平、*為員工提供有競爭*標準工時制度，部*設立工會、召開職公正、公開的原力的薪酬，足夠員分崗位經人力資源工代表大會等保障則；工和其家庭成員享社會保障行政部門員工民主參與公司
*離職：公司與員工有體面的生活水批准，實行綜合工決策。
依照相關法律法規平；時制或不定時工時
及《離職管理規程》*為全職員工繳納五制；
辦理離職手續。險一金，並購買法*在國家規定節假日定之外的意外傷害的基礎上，為全職保險、重大疾病保員工提供補充年假。
險等商業保險。250華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司251
2024年度環境、社會及管治報告
公司堅信多元包容的文化是激發團隊活力、促進公司可持續發展的關鍵因素。公司在招聘過程中積極拓展多元化的招聘渠道，吸引並接納具有不同文化背景、教育經歷和技術專長的優秀人才，提供平等的就業和發展機會。同時，公司關注工作場所的多樣性和平等性，確保所有員工都能在一個尊重和支持差異的環境中貢獻自己的力量。
華虹半導體員工多元化實踐性別多元化
*在招聘、僱傭、晉升環節，秉承「性別平等」理念，將員工能力及績效表現等作為僱傭、晉升評定標準。
年齡多元化
*秉承「年齡平等」理念，為不同年齡層的員工提供工作、晉升機會。
職能多元化
*為員工提供管理、技術和職能支持等多個崗位序列，員工可基於自身發展規劃選擇。
華虹半導體2024年員工組成情況性別分佈
26%74%
女性男性年齡分佈
43%55%2%
<30歲30-50歲>50歲
2024年招聘1700餘人，其中
49%35%9%
生產一線人員工程技術人員研發人員員工關愛
公司為員工打造關懷備至的工作環境，提供辦公、飲食、住宿、出行等方面的福利，為員工營造一個溫暖、有愛且充滿活力的工作氛圍。250華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司251
2024年度環境、社會及管治報告
華虹半導體員工關愛體系
辦公*所有辦公場所均配置新風系統，同時還增加空氣淨化裝置，改善辦公室空氣質量。
*對職工休息室冰箱、電視、座椅的軟裝進行更新。
*在廠內增加綠化，設置噴泉、觀賞魚池等景觀。
飲食*全部工廠均設有員工餐廳、咖啡廳。
*成立食品安全監督小組，建立食材集中採購及合格供應鏈管理模式，邀請員工、部門代表等進行監督。
*倡導健康飲食，構建健康膳食體系，對餐食進行營養均衡和控油控鹽的科學管理，有效提升員工膳食結構合理性，實現美味與健康的動態平衡。
住宿 * 建立員工宿舍，內含獨立衛生間、24小時熱水和WIFI網絡等。
*住宿區內設有圖書室、電腦室、桌球室、洗衣房、電視房、快遞櫃等設施。
出行*為全體員工發放交通補貼。
*在園區、地鐵站、員工宿舍區之間提供免費班車服務。
文體*開設各類文體協會，包括書畫協會、園藝協會、茶藝協會、健身協會、騎行協會等，全體員工均可報名參與。
*組織各類比賽活動，包括籃球比賽、足球比賽、游泳比賽、旱地冰壺比賽、網球比賽、羽毛球比賽、乒乓球比賽等，全體員工均可報名參與。
慰問*重要節假日慰問，開展節假日慶祝活動。
*為員工提供節日和生日禮包，讓員工感受到公司的溫暖和關懷。
健康*為全體員工提供一年一次的健康體檢，包含多發性癌症項目篩查等項目，並建立員工健康檔案用於系統性追蹤員工健康狀況的變化。
*建立「健康守護專欄」，開展健康專題講座，發表科普文章倡導健康生活方式。
*每年為公司員工提供互助保障，提高員工醫療保障水平，減輕員工醫療負擔。
公司遵守《上海市女職工勞動保護辦法》《上海市城鎮生育保險辦法》等法律法規，簽訂《女職工保護集體合同》，保障女職工的合法權益。公司各工廠均建立媽咪小屋，工會每年安排一定資金以支持女性員工發展，每年三八婦女節籌劃節日福利。252華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司253
2024年度環境、社會及管治報告
華虹半導體2024年關愛員工行動行動名稱行動類型及成效
拓寬服務領域成立志願者服務總隊，深化各廠區志願者聯建活動，建設安全健康的工作環境等，不斷提升員工幸福感、滿足感和安全感。
開展聚民心工程上海、無錫基地新建員工宿舍，組織開展「建好生活場所、營造滿意環境」合理化建議活動，結合當代員工需求建好休閒設施員工溝通
員工溝通是企業可持續發展的重要組成部分。公司致力於建立透明、開放的溝通機制，確保員工能夠充分表達意見並參與公司決策。公司制定了《員工溝通規程》，鼓勵公司與員工之間、主管與下屬之間、員工相互之間的多向溝通。
公司通過定期召開員工代表大會、員工聯席會議、溝通會議等形式，傾聽員工聲音，及時回應他們的關切。此外，公司讓員工充分參與到公司的決策中來，促進管理層與員工之間的溝通，維護員工合法權益，營造和諧工作氛圍。通過開展員工思想動態調研、合理化建議平台以及部門溝通會等多形式多渠道，幫助公司了解員工需求，積極響應合理訴求，提升員工責任感和認同感。
此外，公司不定期展開員工滿意度調查，通過不同形式，廣泛收集各類員工的心聲和需求，包括青年員工座談會、OA在線平台、部門內部溝通等。2024年度員工滿意度調查結果保持在90分左右，反映出員工對公司各項工作的整體認可和滿意度。針對員工提出的具體意見，公司積極響應，並通過「我為群眾辦實事」的實踐，紥實推進滬錫兩地綜合配套項目，解決員工需求，進一步提升員工的歸屬感和幸福感。
5.2員工健康與安全
公司日常生產經營嚴格遵守《中華人民共和國職業病防治法》《中華人民共和國安全生產法》《工傷保險條例》等法律法規，為加強公司安全生產工作，建立健全的安全生產責任體系，根據ISO45001: 2018職業健康安全管理體系要求，制定了《安全生產委員會安全生產責任制實施辦法》《環境職業健康安全管理手冊》《安全生產費用管理程序》《工傷管理辦法》等管理規程，為員工提供良好的工作環境和職業健康保障。252華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司253
2024年度環境、社會及管治報告
治理
公司遵循「一崗一責」安全生產主體責任制，健全全員安全生產責任體系。公司設置安全生產委員會，堅持「嚴格落實主體責任、強化部門直接監管、強化廠區屬地監管、強化安全綜合監管」，持續推進安全工作標準化、系統化、智能化建設。
安全生產委員會設立安全生產與職業病防治管理目標，將安全管理目標與安全生產責任制掛鈎，定期審驗目標達成情況。
戰略
公司制定了職業健康與安全管理方針，嚴格遵循安全健康環保法律法規，為員工營造出安全健康舒適的工作環境，不懈追求「零災害」和永續經營的最高目標，成為模範全球企業公民。
公司持續推進安全生產專項整治行動項目，涵蓋危險化學品、建築施工、消防、燃氣、電力以及特種設備等方面。報告期內，公司召開4次安委會議，部署《安全生產治本攻堅三年行動方案》重點工作。管理評審會每年審查職業健康與安全方針的落實情況，更新法律法規要求，部署實施方案。
影響、風險和機遇管理
公司制定《安全生產費用管理程序》，年初確定預算，減少重點部位、關鍵設施風險隱患，積極開展安全技改項目，每週報告安全技改實施進度。公司常態化識別安全隱患，建立應急響應基礎設施和隊伍，搭載數字化安全管理系統，並明確工傷認定和處置方式，建立了完整的安全生產管理體系。
華虹半導體安全風險識別與管理體系管理流程管理措施
隱患識別網格化隱患檢查：採取風險分級管控和隱患排查的方式，深入推進網格化隱患排查，2024年共進行督導檢查410次，查改隱患16139條。
重大項目專項檢查：強化重大建設項目安全管理，落實隱患排查整治專項行動和危大工程安全專項檢查，堅持一日兩次聯合檢查，順利完成重大建設項目「三同時」階段性工作。
應急響應消防系統設施：建立完備的室內外消防栓系統、自動消防滅火系統、自動火災報警系統、防排煙系
統、消防應急廣播系統、疏散指示和應急照明系統。254華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司255
2024年度環境、社會及管治報告
管理流程管理措施
報警監控系統：潔淨廠房內設有有毒、有害、易燃氣體報警系統、液體洩漏檢測系統以及極早期煙霧報警系統。
應急隊伍保障：成立應急搶險隊(ERT)並開展專業技能訓練，制定針對不同災害的應急處置預案。定期組織專項處置演練，對發現的問題及時整改。
數字化管理數字化系統：建立特種設備登記系統、設備端紅外檢測記錄系統等安全管理系統，用數據記錄保障整改措施的落實，讓流程得以規範化執行。
工傷處置根據公司《工傷管理辦法》，當發生工傷事故時，當事部門24小時內將情況通報至安全部門，安全部門組織工傷事件調查，並聯合人事、工會、綜合管理部醫務室召開工傷討論會，並向社會保險行政部門提請工傷認定申請。
此外，為深入開展安全生產文化建設，加強全員安全文化意識，公司開展「人人講安全，個個會應急－暢通生命通道」安全生產月和「全民消防、生命至上」消防宣傳月主題活動，通過各種安全宣傳和展示主題活動，有效提升員工安全意識、安全知識儲備，促進全員履行安全承諾與安全責任。
華虹半導體2024年安全生產文化創建行動行動名稱行動內容及成效
深化安全培訓*開展各類安全主題和各類重點崗位人員安全教育。2024年共開展420場次安全培訓，共計員工
60458人次、承包商27789人次。
*安全教育培訓參訓率達100%、人員持證上崗率達100%。
強化應急能力*完成生產安全應急預案的專家評審及備案，建立完善生產基地異常快速應急處置流程等規範性文件，並做到了周周訓練、季季拉練、年年比賽。
* 加強應急搶險隊（ERT）標準化訓練和實戰化演練。2024年共組織各類預案演練442場和ERT隨機演練38次，開展各項技能訓練45000餘人次。
*組織開展「消防月」消防知識展板宣傳，全員消防技能訓練和疏散逃生演習，提升全員安全意識和應急響應能力。254華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司255
2024年度環境、社會及管治報告
安全技改評比*實施涵蓋六個維度的優秀安全技改項目評比活動。2024年共實施安全技改52項，評出上年度優秀安全技改13項。
公司對安全風險進行定期識別和評估。報告期內，公司發生3起工傷事件，已針對性加強防護教育，包括當事部門全員的安全培訓教育、現場工程控制措施等。
華虹半導體職業健康安全管理體系認證情況主體認證名稱認證有效期
上海基地 ISO45001: 2018職業健康安全管理體系 2027年4月18號
無錫基地 ISO45001: 2018職業健康安全管理體系 2027年4月18號
為預防、控制和消除職業危害，保護員工職業健康及權益，公司建立健全職業健康管理體系。在職業病防治方面，公司定期識別和檢測職業病危害因素，在入職時告知員工職業病危害因素，提供個人防護用具的諮詢，制定防護用具配備標準，定期組織職業危害崗位教育培訓，監督防護用具正確使用。公司涉及職業病危害因素的崗位主要包括離子注入、擴散、刻蝕、化學機械研磨、動力氣化等設備作業崗位。
華虹半導體職業病危害防治體系職業病危害崗位職業病危害因素防護措施職業健康監護
*離子注入、擴散、刻*氟及其無機化合物、氫*潔淨室機台設備為自動*實施年度職業健康監測
蝕、化學機械研磨、動氟酸、鹽酸、硝酸、硫化密閉運行，並設有密以及職業危害現狀評力氣化等設備作業崗酸、磷酸、氨水、過氧閉式工藝設備排氣系價；
位。化氫、砷及其化合物、統；*接觸職業病危害崗位磷及其化合物、異丙醇*為員工配備個人防護用員工100%嚴格實施崗等。品和應急防護用品，定前、崗中、離崗體檢。
期檢查器材確保防護用品的有效性。256華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司257
2024年度環境、社會及管治報告
指標與目標
公司已通過職業健康安全管理體系ISO 45001: 2018認證，員工100%簽訂《安全責任書》、承包商100%簽訂《安全環保承諾書》，做到層層負責、人人有責、各負其責。2024年，安全生產投入共計3416.23萬元。
華虹半導體2024年職業健康安全指標與目標指標單位2024年表現2024年目標
ISO 45001認證覆蓋率 % 100 100
《安全責任書》員工簽訂率%100100
《安全環保承諾書》承包商簽訂率%100100年度工傷死亡事故數次00年度職業病發生次數次00
5.3員工發展與培訓
員工培訓
公司建立了完善的員工教育培訓體系，並基於戰略發展和員工需求不斷進行調整。2024年，公司更新《教育培訓規程》等人事規章制度，滿足不同崗位員工全方位、多層次的培訓需求。
公司擁有完善的培訓設施，配備專用的培訓教室與培訓設備和學習分享線上平台，包括在線培訓報名管理、培訓教材與崗位題庫，多媒體學習課件等。此外，必要時公司利用外部資源為員工的學習與發展提供了基本保障。
2024年，公司精進新進大學生特訓營經典項目，濃縮更新培訓課程，通過創新形式進一步激發學習主觀能動性，幫助新進
大學生迅速融入公司大家庭，以飽滿的熱情迎接未來工作的挑戰。256華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司257
2024年度環境、社會及管治報告
華虹半導體員工分級培訓體系培訓對象培訓內容2024年績效
基層管理者角色認知、自我管理、管理他人、工作管理*人均培訓小時數137.30小時
*員工培訓覆蓋率100%
一線主管一線班組長管理技能，培養高素質、高業務能力的一線管理隊伍，夯實公司管理基礎新進大學生職業素養、企業文化、專業入門等課程一線員工半導體製造工藝模塊的理論與實訓課程
公司為新進員工配備成長導師，系統傳授專業知識與實戰經驗，幫助其快速適應工作環境，勝任工作崗位；公司提供涵蓋崗位技能、專業技術、管理能力等豐富多樣的培訓課程，致力於構建知識型、技能型、創新型的員工隊伍，鼓勵員工立足崗位開展科研創新活動，提升公司核心競爭力。
華虹半導體2024年開展的員工技能提升行動行動名稱行動及成果
創新工作室以15個市級和集團職工創新工作室為基礎，多形式多渠道搭建群眾性勞動競賽平台，開展職工科技論文大賽、一線員工技能比賽、節能減排小組等各項勞動競賽，覆蓋至全部門、全崗位。年內收到論文105篇，獎勵專利178件，完成節能減排項目111項。
青年突擊隊開展「青春擔當520，比學趕超100分」「奮勇擔當芯青年，助力華虹高質量」「青春啟航永向前，助力
華虹新徵程」公司級青年突擊隊創建活動，五年來共創建147支公司級青年突擊隊，圍繞工藝開發、柔性生產、成本降低、供應鏈安全等方面創新創效創優。
職業發展
公司致力於構建清晰、透明的員工職業發展路徑，定期進行績效評估並給予反饋。我們根據行業特性設立了管理、技術和職能支持三大職業發展系列，並配套相應的崗位培訓，既支持員工在單一序列內深入發展，也鼓勵從技術領域向管理崗位的轉換，以滿足個人特長和職業願望。258華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司259
2024年度環境、社會及管治報告
為了確保高質量的人才儲備，公司通過專場培訓、技術交流會和專題講座等多種形式提升員工的綜合能力，持續優化人才培養機制。公司制定《學歷教育補貼辦法》，資助員工參加在職繼續教育，豐富專業知識，提高公司綜合競爭力。
5.4社區與公益
公司積極投身社會公益事業，致力於在社區、教育和鄉村振興等多個領域貢獻力量，傳遞愛心與溫暖，樹立有責任感的企業典範。
華虹半導體2024年社區公益主要行動及成果行動名稱行動及成果
志願服務*員工志願者連續19年走進美馨養老院開展志願服務，組織唱歌、跳舞、做手工等活動，在春節為敬老院張貼春聯、傳統節日送粽子月餅、夏天送防暑降溫用品等。
*員工義務獻血166人次。
社區共建*在「以光育光*探索『童』行」張江科學會堂科普季活動中開展共計5場集成電路科普活動。
*通過科普「點砂成金」的趣味課程，向逾500個孩子科普芯片製造過程及芯片在日常生活中的應用。
*連續七年在總部社區舉辦《意外急救課程》，內容涵蓋急救基礎知識和心肺復甦術操作，幫助居民掌握應對突發事件的技能。
結對幫扶*與雲南漾濞彝族自治縣結對扶貧，購買當地核桃、茶葉等農產品，共計約120萬元消費扶貧費用。
*與上海市崇明區油橋村結對幫扶，捐贈金額5萬元。
6.創新驅動，保障質量安全
6.1研發創新與知識產權保護
研發創新
公司依托「8英寸+12英寸」的佈局優勢，致力於特色工藝技術的持續創新，圍繞嵌入式╱獨立式非易失性存儲器、功率器件、模擬與電源管理、邏輯與射頻等特色工藝平台打造核心競爭力，堅持先進「特色IC + Power Discrete」雙引擎戰略，高速滲透通信、新能源、物聯網、汽車電子等新興市場。
公司秉持「持續創新，為全球客戶製造『芯』夢想」的願景，嚴格遵守《中華人民共和國科學技術進步法》等法律法規及相關要求，致力於特色技術工藝，推動公司研發創新水平不斷提升。258華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司259
2024年度環境、社會及管治報告
治理
公司構建由「董事會－管理層－研發部門」組成的治理架構。董事會和管理層負責公司的整體研發戰略，確保研發方向與公司長遠目標一致。管理層則負責執行董事會的決策，制定具體的研發計劃和技術路線圖，協調各項資源以推動創新進程。研發部門是核心執行團隊，負責日常的技術研究、產品開發和創新工作，確保新技術和新產品的不斷突破與提升。
戰略
公司深知持續加強研發創新對製造工藝精進的重要性，持續為全球客戶提供卓越的產品和服務。公司在制定研發創新方面的戰略決策時，充分評估研發創新對產品推廣所帶來的影響、風險和機遇，如當前的數字化趨勢正在逐漸推進汽車整車廠與芯片設計廠商在供應鏈中的聯動關係與話語權發展。同時，公司通過感知市場趨勢、提升資源利用效率等措施，提高公司應對風險的韌性。
影響、風險和機遇管理華虹半導體研發創新管理體系管理流程管理措施
識別與評估*持續跟蹤市場變化和技術發展趨勢，確保技術平台能夠適應不斷變化的需求。
*定期審查內部資源和技術能力，確保可以支持新產品的研發和生產。
*識別潛在的風險點，如技術障礙、市場接受度、法規變動等，並評估發生的可能性及財務影響。
管理與優化*通過改進工藝、增加研發投入等方式降低風險水平。
*加大對潛力芯片技術領域的投資力度，促進相關技術研發。
*建立靈活高效的決策流程，確保能夠迅速響應市場變化和技術進步帶來的機遇。
公司在多個關鍵技術平台上建立了廣泛的產品線，終端應用覆蓋多樣化的產品需求，包括消費電子、工業控制、汽車電子、物聯網、通信和計算機以及電源管理等。
報告期內，公司積極推進產業終端生態合作戰略，與合作夥伴共同推進芯片產業的可持續發展。公司秉承「開放、創新、合作」的發展理念，與產業鏈上下游企業積極聯動。在汽車電子領域，憑藉公司20多年成功量產汽車電子芯片的經驗，幫助車規產品通過AEC-Q100 Grade0驗證，並完善了汽車電子零缺陷管理模式，為汽車電子應用系統提供了全面的優質的芯片加工服務。260華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司261
2024年度環境、社會及管治報告
華虹半導體2024年研發創新指標與目標指標單位2023年表現2024年表現研發投入萬元147858164322
研發投入佔營業收入比例%9.1111.13研發人員數量人12851427
研發人員佔員工總人數比例%18.7219.06
榮譽與獎項*國家科學技術進步獎二等獎
*2024第三十五屆上海市優秀發明金獎、銀獎
*2024年度上海市優秀院士專家工作站
*上海市職工優秀創新成果獎知識產權保護
公司嚴格遵守《中華人民共和國專利法》《中華人民共和國著作權法》《中華人民共和國商標法》等法律法規及相關要求，制定《知識產權管理制度》等內部管理制度，致力於構建一個全面且高效的知識產權保護體系，以促進技術創新發展的同時，規範知識產權管理。
公司持續優化和完善知識產權管理機制，力求在每一個業務環節中融入知識產權保護的理念。公司每年確立專利申請工作目標，積極保護自身知識產權，承諾尊重並保護所有單位及個人的知識產權，同時對上下游合作夥伴的產品和技術信息實施嚴格保護。
為防範知識產權侵權風險，公司規範並加強對客戶的信譽和潛在法律風險的評估。此外，公司持續與多家關鍵技術提供商建立了技術授權合作關係，確保產品和服務均建立在合法合規的基礎上。
華虹半導體2024年知識產權保護指標與目標指標單位2023年表現2024年表現累計專利申請數個89699649累計專利授權數個44274644完成專利申請數個672680
已獲批專利數個270230260華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司261
2024年度環境、社會及管治報告
6.2產品和服務安全與質量
產品質量與安全
公司在產品質量方面始終秉持高標準，堅持「零缺陷」理念，致力於為客戶提供卓越產品和服務。
治理
公司遵循ISO9001、IATF16949質量管理體系及相關要求，制定《質量手冊》《質量目標管理實施規程》《不合格品控制規程》《供應商管理規程》等內部管理制度，明確品質及可靠性保證部在產品質量與安全方面的職責，要求其定期向管理層及董事會匯報質量工作，推動質量管理的統籌規劃及執行。
戰略
公司注重質量管理對產品及業務發展的深遠影響，將質量視為企業戰略的核心要素，建立嚴格的質量管理體系以幫助識別和減輕可能影響產品質量的風險因素，增強公司對外部環境變化的適應能力。
影響、風險和機遇管理
公司依據《不合格品控制規程》，建立覆蓋產品全週期的不合格品管理規則，明確各環節處理規範和適用情形，包括進料、生產、測試、檢驗、客戶反饋和搬運存儲等。對於確定的不合格產品，根據規程相關規定進行處置，防止不合格品的非預期使用。
華虹半導體2024年質量管理體系認證情況主體名稱有效期限
上海基地 ISO 9001質量管理體系 2027年5月17日
IECQ QC 080000有害物質過程管理體系 2026年12月11日
IATF 16949汽車行業質量管理體系 2027年5月17日
無錫基地 ISO 9001質量管理體系 2025年11月11日
IECQ QC 080000有害物質過程管理體系 2026年12月11日
IATF 16949汽車行業質量管理體系 2026年5月7日
報告期內，公司圍繞推動質量改善、強化質量評審、規範供應商管理、開展質量培訓等方面多措並舉，旨在全面提升產品質量和客戶滿意度。262華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司263
2024年度環境、社會及管治報告
華虹半導體2024年產品質量管理舉措及成果方面具體舉措及成果
推動質量改善*針對研發、生產、製造、測試、服務等五大模塊開展調查和評估，並制定改善方案。
*針對車規工藝相關質量問題，各模塊提出改善方案並分享經驗。
強化質量評審 * 制定公司年度質量目標(Company Quality Objective， CQO)，並開展評審工作。
* 開展質量改進報告評選（8D報告，Eight Disciplines Report）和高質量項目評審等活動。
規範供應商管理*設定供應商管理相關績效指標，包括供應商投訴率、供應商原材料質量引起的報廢率等。
* 建立供應商分析證書電子管理系統(Electronic Certificate of Analysis， ECOA)，並對其關鍵原物料參數進行統計過程控制管理(Statistical Process Control， SPC)。
開展質量培訓*上海和無錫基地同步開展質量管理和零缺陷質量意識培訓，覆蓋全體員工，共計6826人次。
*每年舉辦質量月活動，開展質量大講堂、質量辯論賽、供應商交流會、信息安全周、質量徵文和書法比賽等活動，提升質量文化宣貫，促進全員質量意識提升。
華虹半導體2024年產品質量管理指標及成果指標單位2023年表現2024年表現目標產品召回次數次000
CQO % 93 84 80
通過汽車客戶審核數個1433–
榮譽與獎項 * 上海市質量技術進步獎－優秀獎：「0.11微米eflash與BCD車載工藝平台的融合研發」
*2024年「『特色工藝零缺陷，華虹發展高質量』主題活動」獲得上海市質量協會頒發的卓越質量管理模式（組織）優秀級有害物質管控
公司高度重視產品中有害物質的管控，遵循REACH，WEEE，RoHS等國際標準及相關要求，制定《有害物質管理規程》等內部管理制度，建立全面的有害物質管理體系，促進產品質量和安全的保障。報告期內，公司開展針對全氟和多氟烷基物質(Per- and Polyfluoroalkyl Substances， PFAS)物質使用情況的內部調研，對於部分使用PFAS物質的原材料，配合客戶進行原材料替換的評價，確保符合海外地區的法規要求。
報告期內，公司從源頭管控、原料檢測、產品認證三大維度開展舉措，推動產品中有害物質使用的合規性與安全性。262華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司263
2024年度環境、社會及管治報告
華虹半導體2024年有害物質管控舉措方面具體內容
源頭管控*將產品有害物質管控理念納入產品研發環節，在源頭降低有害物質使用風險。
原料檢測*要求供應商提供產品有害物質檢測報告，並簽署《產品環保承諾書》。
*供應商審核中包含有害物質的合規性條款，並定期開展抽樣檢測，確保原料的安全性。
產品認證 * 委託第三方機構根據《關於限制在電子電器設備中使用某些有害成份的指令》 (RoHS)、《關於化學品註冊、評估、許可和限制規定》 (REACH)開展產品檢測與認證，確保產品符合相關認證標準要求。
客戶關係管理
公司圍繞「為客戶提供更加便捷安全的服務」理念，完善「客戶交流－客戶投訴－客戶滿意度調查」的客戶服務管理體系，遵循《中華人民共和國消費者權益保護法》等法律法規及相關要求，制定《客戶投訴管理規程》《客戶返品確認規程》等內部管理制度，不斷提升客戶服務水平，旨在提升客戶滿意度。
為及時響應客戶意見和心聲，公司依據《客戶投訴管理規程》詳細規定處理客戶投訴的標準流程和應對策略，建立多元化客戶投訴渠道，如電子郵件、電話熱線、信函、傳真等，24小時內確認接受客戶投訴、48小時內提供3D報告（問題防堵措施報告），14個自然日內提供普通產品的8D報告（問題解決報告），保證客戶投訴響應的及時性。截至報告期末，公司累計收到2起來自客戶的投訴，投訴處理率為100%。264華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司265
2024年度環境、社會及管治報告
華虹半導體客戶投訴處理流程投訴發生失效原因調查預防與糾正
正常投訴發生後24小時內與需進行失效分析的投訴案例落實糾正與預防措施，並定客戶進行溝通和確認，並給移交相關部門處理，根據調期對客戶反饋的相關信息進出初步回覆查結果制定糾正與預防措施行整理分析，對整改效果進並回覆客戶行審核
公司持續進行客戶滿意度調查工作，報告期內，公司根據《客戶滿意評價及改進規程》，通過開展客戶滿意度調查，不斷推進產品和服務的品質改善，持續提升客戶滿意度。公司管理層審核每年度客戶滿意度調查工作，針對滿意度調查結果組織分析診斷工作，並實施整改計劃，持續跟蹤落實效果並回覆給客戶。264華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司265
2024年度環境、社會及管治報告
華虹半導體客戶滿意度調查結果
2023年2024年分數變動情況
8.97分8.89分↓0.08分
6.3信息安全與隱私保護
公司不斷強化信息安全與隱私保護，遵守《中華人民共和國網絡安全法》《中華人民共和國數據安全法》《網絡安全管理條例》《商用密碼管理條例》等法律法規等相關要求。報告期內，公司根據外部管理條例變化，更新《數據管理規程》《個人信息管理規程》等管理制度，以保障客戶知識產權、用戶隱私和個人信息安全。
治理
公司持續優化信息安全管理體系(ISMS)，完善「總裁－信息安全委員會－信息安全工作小組」的管理架構，以確保信息安全策略的有效實施和高效運作。公司已通過ISO/IEC 27001:2022信息安全管理體系認證（有效期至2025年2月）。報告期內，公司未發生侵犯客戶隱私及遺失客戶資料的投訴事件。266華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司267
2024年度環境、社會及管治報告
華虹半導體信息安全管理架構
總裁：作為信息安全管理體系最高管理者，把握信息管理工作全局信息安全委員會：由管理者代表、部門負責人組成；研究審定公司信息
安全監督規章制度、監督相關部門職責履行
信息安全工作小組：由信息技術部、品質及可靠性保證部及合規部等部門人員組成；負責信息安全管理體系的建立和實施戰略
公司深刻認識到信息安全與隱私保護的重要性，在面對更嚴格的監管要求和技術快速變革的雙重挑戰下，將信息安全納入整體發展規劃，通過積極投入資源，構建系統化的管理機制，以實現潛在風險的預先識別和有效控制，同時挖掘信息安全相關領域的戰略機遇。
影響、風險和機遇管理
報告期內，公司從個人信息訪問管理、風險評估和自查、開展攻防演練等方面，進一步強化信息安全與隱私保護的整體能力，致力於構建更全面、高效、可持續的信息安全管理體系。
華虹半導體2024年信息安全與隱私保護管理體系管理流程管理措施
信息訪問*完善個人信息處理各階段的保護措施，升級訪客登記系統。
*更新《個人信息管理規程》，落實隱私保護要求。
風險評估*強化信息安全管理體系，更新《信息安全風險評估管理規程》，落實數據分類分級相關的要求。
風險自查*推進企業網絡安全專項工作，通過工業和信息化部的定級，被評為「二級聯網工業企業」。
實戰演練*落實網絡安全防護加固工程，參與上海市經濟和信息化委員會主辦的「工賦礪網」實戰攻防演練，榮獲「優秀藍方企業」。266華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司267
2024年度環境、社會及管治報告
指標與目標
公司每季度開展信息安全及隱私保護培訓，統計培訓覆蓋人數，回顧培訓效果，培訓內容包括體系認證、信息保密、商業秘密保護、防範網絡攻擊等培訓課程。
華虹半導體2024年信息安全與隱私保護培訓情況
培訓主題覆蓋範圍2023年參與人數（人）2024年參與人數（人）
信息安全管理體系培訓－第一季度上海基地和無錫基地82336683
信息安全管理體系培訓－第二季度65546117
ISO 27001新版體系標準介紹及信息安全 6476 7346
意識培訓－第三季度
ISO 27001新版體系標準介紹及信息安全 6919 7491
意識培訓－第四季度
保密、信息安全合規性培訓68027314
攻防演練專項培訓–7525
ISO 27001標準及審核技巧培訓 – 99
6.4可持續供應鏈管理
可持續供應鏈管理
公司主要的供應商類型為硅片、化學品、氣體的供應商。公司積極遵循責任商業聯盟(RBA)等行業標準及規範，報告期內，公司獲得RBA「Platinum Award」認證。
治理
公司構建由各基地工程部門、品質及可靠性保證部以及採購部組成的供應鏈工作小組，明確由經管層制定戰略方向並監督執行，並定期向董事會匯報，確保供應鏈政策與公司目標一致。供應鏈工作小組負責供應商的評估、選擇和定期審核，建立供應商績效管理體系和合規審查機制，確保質量、環境和社會責任要求的全面落實。
公司制定《供應商風險識別策劃控制管理程序》《社會責任管理手冊》等管理制度，以明確供應鏈管理的責任和要求，確保供應商篩選、准入及管理流程的科學與嚴謹。
戰略
公司通過建立系統化的供應鏈管理流程，將供應鏈相關的多維度風險和機遇納入整體戰略，推動綠色供應鏈發展。公司通過定期識別和評估供應鏈中的關鍵影響因素，確保管理策略能夠有效應對外部環境衝擊和市場變化。268華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司269
2024年度環境、社會及管治報告同時，公司將供應鏈管理與戰略目標深度融合，不僅通過風險控制以保障業務連續性，還積極挖掘供應鏈在成本優化、技術合作和本地化發展中的潛力，從而實現供應鏈管理與公司發展的協同推進。
《華虹半導體供應商社會責任要求》概覽
*人道待遇
*禁止強迫勞動*工作時間*不歧視╱不騷擾
*不錄用未成年的員工*工資和福利*結社自由與集體談勞工判
*職業安全*工業衛生
*公共衛生、飲食和
*應急準備*強體力型工作住宿
環境職業與健康*工傷與疾病*機械安全防護
*環境許可和報告*固體廢棄物*水源管理
*預防污染和節約資源*廢氣排放*能源消耗和溫室氣
環境保護*有害物質*限用物資體排放
*商業誠信*知識產權
*負責任的礦產採購
*無不正當利益*公平交易、廣告宣傳和競爭
*隱私
*信息披露*身份保護和禁止報復商業道德
*管理職責和責任*改進目標
*審核與評估
*法律和客戶要求*培訓
*矯正措施
管理體系*風險評估和風險管理*溝通
影響、風險和機遇管理
公司遵循責任商業聯盟(Responsible Business Alliance， RBA)電子行業社會責任審核標準，明確供應商在質量、供應穩定、勞工管理、環境保護、商業道德等方面的基本要求，建立供應商准入前初審、年度評估、定期宣導的管理體系，與表現優良的供應商維持穩定合作關係。268華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司269
2024年度環境、社會及管治報告
華虹半導體可持續供應鏈影響、風險和機遇管理體系管理流程管理措施
供應商准入*在供應商准入階段，進行品質要求、穩定供應、勞工管理、環境保護、商業道德等方面表現的初步審核，篩除有負面信息或不滿足要求的供應商，關鍵供應商須經過初審後方可登記進入合格供應商清單(Approved Supplier List， ASL)清單，以降低供應鏈起始階段的風險。
供應商審核*每年開展全面的風險評估，根據《供應商風險識別策劃控制管理程序》，通過第三方稽核或審核問卷，識別供應商潛在的風險點，對潛在風險提出整改方案；如供應商無法有效整改，或發生重大違規行為，則取消合作關係，確保供應鏈穩定合規。
績效評估*嚴格控制原材料質量、有害物質含量合規性等關鍵表現。
*每年開展供應商績效評估，並評選出傑出供應商等獎項，激勵表現優異的供應商。
供應商宣導*定期開展覆蓋多類別供應商的宣導和培訓，與供應商同步環境、道德及質量標準要求，為供應商提供技術支持，共同挖掘供應鏈優化和提升的潛在機遇。
公司對供應商實施嚴格的反賄賂和反腐敗政策，要求所有供應商簽署商業道德承諾書，並通過定期審核和績效評估，確保其業務實踐符合公司的誠信與合規標準。
半導體硅片製造過程對水資源需求量大，同時伴隨較高的污染排放風險。如果生產過程中未能妥善解決污染排放和廢水處理問題，將對水資源再生造成更大壓力。為此，公司針對硅片供應商實施水資源管理行動及績效調查，包括節水目標、耗水量、節水措施等，旨在降低其生產運營對水資源的影響。公司設定「對主要硅片供應商水資源調查覆蓋達100%」的目標，報告期內，該目標已達成。
報告期內，公司共調研相關企業270次，與上百家國內供應商建立聯繫，進一步優化供應鏈管理體系，確保供應鏈的穩定性和高效性，為業務發展提供強有力的支持。270華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司271
2024年度環境、社會及管治報告
華虹半導體2024年可持續供應鏈管理指標與目標指標2023年表現2024年表現
關鍵供應商社會責任審核覆蓋率100%100%關鍵供應商培訓宣導的次數2020
新引入國產供應商（家）2818
「8英寸+12英寸」原材料供應商多元化率65.4%76%
「8英寸」原材料供應商多元化率72%84%
「8英寸」靶材和硅片供應商多元化率＞90%98%
「12英寸」原材料供應商多元化率55%65%負責任礦產管理
「衝突礦產」指在衝突地區開採通過非法貿易資助武裝團體的礦產，通過暴力脅迫勞工、使用童工、破壞環境生態等手段進行開採礦產，這些礦產的交易往往導致人權侵犯、環境破壞和社會不穩定。根據《多德－弗蘭克華爾街金融改革與消費者保護法》以及國際非政府組織的研究，衝突礦產可能進入信息、通信和技術(ICT)產業，應用於收集、計算機等電子電氣產品。
在公司的生產過程中，涉及使用金(Au)、鉭(Ta)、鎢(W)、錫(Sn)、鈷(Co)等礦產資源。為防止採購和資助具有社會和環境負面影響的礦產來源，公司制定《衝突礦產管理政策》，確保採購的礦產不來源於衝突區域。
公司生產過程中使用的金、錫、鉭和鎢超過71%來自亞洲，超過20%來自歐洲，其餘來自美洲。使用的鈷三分之二來自亞洲，三分之一來自歐洲。截至報告期末，公司所使用的金、鉭、鎢、錫均不來自武裝衝突地區。
華虹半導體礦產使用類型及來源
金、鉭、鎢、錫鈷
7.6%
33.33%
20.7%
71.7%66.67%
亞洲歐洲美洲亞洲歐洲270華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司271
2024年度環境、社會及管治報告此外，公司遵循負責任礦產倡議(RMI)、經濟合作與發展組織(OECD)發佈的《受衝突影響和高風險地區礦產供應鏈盡職調查指南》等國際標準，對供應商進行追溯和盡職調查，要求所有供應商承諾不從受衝突影響或高風險地區採購衝突礦產，以確保供應鏈的礦產來源符合合規與道德要求。
《華虹半導體衝突礦產管理政策》
2、要求供貨商提供金 (Au)、鉭
1、要求原物料中含有金(Au)、鉭
將全球社會環境責任作為 (Ta)、鎢(W)、錫(Sn)、鈷(Co)金
(Ta)、鎢(W)、錫(Sn)的供應商遵
公司的目標，踐行綠色採屬不使用「衝突礦產」的聲明，循負責任礦物政策採購，要求原購原則，承諾在金屬供應向供應商發出衝突礦產調查問物料含鈷(Co)的供應商披露鈷的
鏈中承擔社會及環境責任 卷 (CMRT)和擴展礦物調查問卷來源冶煉廠
(EMRT)
報告期內，公司針對金屬靶材供應商開展問卷調查，覆蓋率達100%，包括導入的新供應商及存量供應商。公司追溯產品所用礦產原材料的來源，確保每一批次礦產的產地信息清晰可追溯，追溯範圍涵蓋礦山、冶煉廠及整個供應鏈環節。報告期內，追溯結果顯示，公司不使用衝突礦產的供應商比例為100%。272華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司273
2024年度環境、社會及管治報告
7.穩健治理，恪守商業道德
7.1公司治理
公司治理
作為香港交易所主板和上海證券交易所科創板上市公司，公司嚴格遵守香港《公司條例》《聯交所上市規則》《中華人民共和國證券法》以及上海證券交易所《科創板上市規則》等註冊地、境外上市地、中國境內適用法律法規，制定《組織章程細則》《股東大會議事規則》《董事會議事規則》等規章制度，構建了股東大會、董事會及其專門委員會相互配合的公司治理結構和運作機制，推動公司治理體系的科學決策、規範運作及經營管理水平進一步提升。
公司董事會下設審核委員會、薪酬委員會、提名委員會等專門委員會，各專門委員會各司其職，監督董事會職責履行並助力其科學決策。公司設置3位獨立非執行董事，參與決策和監督，增強董事會決策的客觀性、科學性。
華虹半導體公司治理架構股東大會審核委員會董事會薪酬委員會提名委員會
管理層272華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司273
2024年度環境、社會及管治報告
截至報告期末，公司董事會有9名成員，其中女性董事有1名。報告期內，公司召開董事會會議16次，審計議案58項。
信息披露
公司嚴格遵循中國證券監督管理委員會《上市公司信息披露管理辦法》等適用法律法規及相關要求，制定《信息披露管理制度》等相關文件，致力於確保信息披露的真實性、準確性、及時性、公平性和完整性，滿足利益相關方的信息需求。報告期內，公司嚴格遵守信息披露的相關規定，及時報告重要事項，並持續優化信息披露的質量和合規性。
公司通過披露董事及高級管理人員的持股計劃，規範董事及高管的持股行為。2023年8月，公司發佈《關於部分高級管理人員增持公司A股股份計劃的公告》，明確提及執行董事及高管的股份增持計劃，並於2024年1月4日實施完畢。公司高管通過集中競價方式累計增持公司A股53618股，總金額達230.94萬元，增持後合計持股比例升至0.0275%。
投資者權益保障
公司高度重視股東權益保障，通過制定合理的利潤分配政策和分紅方案，積極回饋股東，致力於為投資者創造穩定的長期回報。公司設立投資者關係管理部門，與利益相關方保持積極溝通，主動回應投資者關注的重點問題，確保投資者的合理訴求得到妥善處理。
公司秉持「平等對待所有投資者」的原則，遵循「合規信息披露」的要求，以「誠信守則、互動溝通」為指引，通過多種渠道向資本市場傳遞公司經營、財務、產品技術及重大事項等信息，如股東大會、定期報告、投資者直線電話、上證e互動、投資人專用郵箱、線上線下交流會議、公司官網、微信公眾號等。
報告期內，公司共召開1次股東大會，共審計13項決議案。所有會議均面向全體股東開放，包括中小投資者，切實保障其參與權和知情權。此外，公司組織了4次業績交流會，與投資者進行深入溝通，增強透明度和信任度。
7.2風險合規管理
公司重視風險合規管理，嚴格遵守運營所在地所適用的法律法規，密切監控法律法規頒佈變更、修訂情況，識別與公司運營生產相關條例，及時完善內部管理制度與外部法規的一致性，以確保符合法律法規要求。
公司制定覆蓋全業務流程的《全面風險管理制度》，通過定期識別和分析風險清單，建立長效管理機制，分層次、分業務線開展風險防範，針對重點領域實施有效的風險管控措施。274華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司275
2024年度環境、社會及管治報告
公司借鑒國際內審協會(IIA「) 三線模型」，在審核委員會和管理層的授權下，搭建符合公司特色的風險管理體系，明確重大風險的分管領導、牽頭部門及職責分工。
華虹半導體經濟領域風險管理三道防線
組織治理機構（對利益相關方負責、承擔監督職責）董事會審核委員會
第三道線
總裁╱管理層內部審計部門品質及可靠人力資源部財務部信息技術部合規部第二道線保證部工廠客戶工程部中國區銷售部國際銷售部銷售服務部市場發展部業務發展部行政管理安全保衛部董辦第一道線計劃部採購物流與測試技術研發
第一道線職能：為客戶提供產品╱服務，管理風險；
第二道線職能：為風險相關的事務提供專業知識、支持、監督並提出合理質疑；
第三道線職能：對所有與實現目標相關的事務提供獨立和客觀的確認和建議。274華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司275
2024年度環境、社會及管治報告
基於風險管理「三線模型」，公司堅持全面性與重要性相結合的原則，持續優化風險地圖，將部分同類風險因素整合歸類，修改並補充部分風險舉例，並辨析出公司59個主要風險因素，實現對公司內外部風險的全面防範與有效監督。
報告期內，公司在上海和無錫基地開展年度風險評估，設計風險調查問卷，通過一對一訪談、多部門座談、實地調研抽樣等多種方式，系統樹立並識別關鍵風險領域。
華虹半導體風險管理體系管理流程管理措施
風險評估*通過發放問卷、一對一訪談、多部門座談會等方式識別和樹立風險領域，對風險領域進行打分，形成年度風險管理報告。
風險上報*實行季度風險溝通上報機制，各業務條線每季度或不定期搜集並上報條線內風險事件。
溝通與培訓*不定期召開風險條線管理會議，開展風險培訓，溝通各業務條線及公司層面風險問題。276華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司277
2024年度環境、社會及管治報告
華虹半導體風險應對機制風險類別風險內容策略
運營研究與開發持續完善研發項目管理體系，對研發的立項、執行、後評估全方位監控，不斷提升項目經理能力，及時開發有商業價值的新技術、新產品產品結構持續推動技術產品升級迭代，增加柔性產能，促進各工廠工藝互通，優化產品結構人才儲備及發展建立人才簡歷數據庫、開展人才庫存、不斷探索招聘渠道、優化薪酬結構、完善配
套福利政策，全面提升企業的吸引力和員工滿意度供應鏈持續開發多元化供應渠道，確保供應鏈的穩定；針對各生產物料設置安全庫存值，定期審閱安全庫存值的合理性，高風險物料及時隨市場變化進行調整信息安全 建立信息安全框架和管理方針，每年度執行信息安全風險評估程序，同時通過DLP數據保護系統對各項關鍵信息進行持續監控，確保公司、股東、客戶、供貨商及公司員工的最佳利益得以保障
財務匯率管控公司秉承匯率風險中性的理念，通過幣種轉換、利率互換以及採用匯率風險管理產品等方式降低存量美元債務的匯率風險環境及安全安全檢查持續並定期開展以隱患排查和設備故障診斷為主的安全檢查
職業健康公司根據安全健康環境管理體系目標指標及方案管理程序，制定環境職業健康安全目標、指標及方案管理表
環境公司根據環境因素識別、評價和控制策劃管理程序，列出重大環境因素清單276華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司277
2024年度環境、社會及管治報告
7.3商業道德
反商業賄賂及反貪污
公司始終致力於培養清廉、誠信、公平的企業文化，嚴格遵守《中華人民共和國刑法》《關於禁止商業賄賂行為的暫行規定》等法律法規及相關要求，制定《社會責任管理手冊》《反腐倡廉廉潔從業承諾制度》《廉潔從業談話辦法》等內部管理制度，確保在合作與日常經營中遵循高標準的廉潔原則。
公司將商業道德的戰略納入公司整體治理框架，管理層負責監督戰略的執行與落地，合規部、人力資源部和採購部等職能部門具體負責商業道德的管理與監督工作。
華虹半導體反貪污與反賄賂機制
制止商業賄賂行為，維護公平競爭秩序；
絕不利用職務和工作上的影響力謀取不正當利益；
要求全體員工（包括兼職員工）、高級管理人員、董事成員均遵守法律法
絕不違反財務管理和使用規定，不假公濟私、不化公為私；
規，廉潔奉公，勤勉自律，禁止任何形式的貪污與賄賂行為，包括：
不弄虛作假，不損害公司合法權益和良好商譽；
不接受可能影響工作的禮品、禮金、有價證券和財務等。
公司在商業道德方面建立系統化的管理體系，以確保公司各項運營活動始終符合高標準的商業道德要求。公司定期對商業道德和反腐敗工作進行全面評估，覆蓋所有業務運營點。公司不僅評估反腐敗機制運行的有效性，同時還識別潛在的廉潔風險點，並提出改進措施。此外，公司還設立了商業道德的定期核查機制，確保道德政策與業務發展和行業規範保持一致。
公司致力於創造清廉的商業道德氛圍，在新入職員工中開展責任商業聯盟(RBA)行為準則培訓，強調廉潔經營等商業道德行為；組織反腐敗及商業道德培訓，覆蓋所有關鍵崗位的員工，推動廉潔文化的深入開展，塑造健康的工作環境。報告期內，公司在上海和無錫兩地舉行了廉潔從業責任書簽訂儀式，簽約對象為公司各部門的負責人及以上層級人員，旨在強化廉潔從業的責任落實，進一步優化公司風清氣正的企業氛圍。
公司鼓勵員工積極參與監督和舉報，以維護清正的工作環境，並提供郵件、電話及信箱等多個舉報渠道，員工可選擇實名或匿名舉報。公司始終保持開放態度，確保及時處理舉報信息，做到迅速發現和解決問題，防控風險。278華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司279
2024年度環境、社會及管治報告
為保障舉報的公平性和透明度，公司已建立健全商業道德監督和舉報處理機制。所有舉報案件都會經過詳細調查，並在審議後向舉報人反饋處理結果。在保護舉報人方面，公司確保其信息嚴格保密，防止舉報人因採取合法途徑進行舉報而遭受解僱、降職、停職或任何形式的報復。
華虹半導體商業道德監督及舉報處理程序在規定期限內完成調查
對收到的舉報個案，立取證工作，得出初步結反饋舉報人即登記在案論，並向管理層匯報召開專題會議，審議舉安排專人或成立專項小
報內容及調查結果，得組了解情況、調查取證出處理方案
截至報告期末，公司未發生商業賄賂或貪污相關事件以及訴訟案件。278華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司279
2024年度環境、社會及管治報告
華虹半導體2024年商業道德指標與目標
2024年目標2024年目標達成情況
所有供應商簽訂《反商業賄賂承諾書》100%
全體關鍵崗位員工簽署《廉潔從業承諾書》100%反不正當競爭
華虹半導體嚴格遵守《中華人民共和國反不正當競爭法》等法律法規及相關要求，嚴厲禁止虛假宣傳、商業秘密侵犯、濫用市場優勢等不正當競爭行為，建立較完善的治理結構和內部監督管理程序，實施風險評估與合規審查流程，確保及時發現和糾正不正當競爭行為。同時，公司對員工進行了定期的培訓，強化法律合規意識，確保不正當競爭行為的預防和處置。
公司明確規定各部門的職責，確保對不正當競爭風險的有效識別和應對。同時，通過加強對市場和競爭環境的分析，定期評估可能的風險和機遇，並制定相應的策略進行調整。
截至報告期末，公司未發生不正當競爭訴訟或行政處罰的情況，也未在產品標籤使用和宣傳內容方面未出現任何違法或違規情況。280華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司281
2024年度環境、社會及管治報告
8.附錄
8.1 ESG數據表及附註
環境1績效指標單位2022年2023年2024年排放物廢氣排放總量萬立方米239102427479292478838
氮氧化物(NOx)排放量 千克 32650 33719 35333
二氧化硫(SO2)排放量 千克 3546 5252 4013廢水排放總量萬立方米832898970有害廢棄物產生量2噸203852079727601
單位產品有害廢棄物產生量千克╱8英寸晶圓4.885.296.07無害廢棄物產生量2噸9864926910134
單位產品無害廢棄物產生量千克╱8英寸晶圓2.362.362.23資源使用綜合能源消耗量3兆瓦時106500211681701272331
單位產品綜合能源消耗量兆瓦時╱8英寸晶圓0.250.300.28其中，外購電力1兆瓦時95466710303521104829天然氣用量1立方米105302871104831211630543
汽油用量1升–4394943923
柴油用量1升–1591121244
外購熱力1吉焦–134940141125用水總量4立方米180102261907673421295153其中，來源於市政供水的水量立方米102840631112726612560168廢水回用立方米772616379494688734985
單位產品用水量5立方米╱8英寸晶圓2.462.832.76
循環╱再利用水量立方米107163560126544660148470458
成品出貨所用包裝材料的總量噸313.32336.92420.32
單位成品出貨所用包裝材料千克╱8英寸晶圓0.070.090.09
成品出貨所用包裝材料的回收量噸54.9066.3384.71溫室氣體排放溫室氣體排放量6噸二氧化碳當量497938537070562487其中，直接溫室氣體排放量噸二氧化碳當量248772288125331間接溫室氣體排放量7噸二氧化碳當量473060514189537156
單位產品溫室氣體排放量噸二氧化碳當量╱8英寸晶圓0.120.140.12
註：
12023年無錫生產基地擴產項目投產，並於2024年擴大產能，因此2024年綜合能源消耗量、廢水排放總量、廢棄物產生量有所增加，但大部分單位產品的強度型績效指標有所減少。
2有害廢棄物主要為廢異丙醇、廢酸、廢油、廢包裝物等。有害廢棄物主要為廢污泥、生活垃圾等。
3綜合能耗涵蓋外購電力、天然氣、汽油、柴油、外購熱力。
4用水總量=市政供水的用水量+廢水回用量。280華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司281
2024年度環境、社會及管治報告
5單位產品用水量的統計口徑僅包含市政供水。
6 溫室氣體排放所採取的統計口徑及核算依據遵循國家標準委《GB/T 32150工業企業溫室氣體排放核算和報告通則》及《GB/T 32151溫室氣體排放核算與報告要求》。
7間接溫室氣體排放量上海、無錫廠區分別依據《上海市生態環境局關於調整本市溫室氣體排放核算指南相關排放因子數值的通知》及
中國生態環境部《關於發佈2022年電力二氧化碳排放因子的公告》（2024年12月）計算。2024年，上海廠區採用電力排放因子缺省值
0.42 tCO2/MWh，無錫廠區採用全國平均電網排放因子0.5366 tCO2/MWh進行計算。
僱傭與勞務實踐績效指標單位2022年2023年2024年員工僱傭全職員工總數人676068637487按性別劃分男性員工人493250395525女性員工人182818241962按僱傭類型劃分勞動合同制員工人676068637487
勞務派遣制員工（不計入全職員工總數）人815349兼職員工人000按年齡劃分小於30歲員工人298328943228
30-50歲員工人362438114091
大於50歲員工人153158168
按級別劃分基層員工人––7361
管理層員工人––126
按學歷劃分擁有研究生及以上學歷的員工人––1987
擁有本科學歷的員工人––2662
擁有本科以下學歷的員工人––2838按地區劃分在中國大陸工作的員工人675168557479在港澳台及海外工作的員工人988
員工流失率1%12.010.011.2
按性別劃分女性員工%9.77.16.3
男性員工%12.811.312.5
按年齡劃分小於30歲員工%18.314.017.2
30-50歲員工%7.27.56.3
大於50歲員工%0.71.91.2
按地區劃分在中國大陸工作的員工%12.010.011.2
在港澳台及海外工作的員工%0.09.70.0282華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司283
2024年度環境、社會及管治報告
績效指標單位2022年2023年2024年健康與安全2
員工職業病發病率%000
參加職業病體檢的員工覆蓋率%100100100因公亡故的人數人000
因公亡故的比例%000因工傷損失工作天數天8361126員工培訓
全職員工人均接受培訓時長3小時122.2133.7137.3
按級別劃分基層員工人均培訓時長小時123.7135.6139.1
管理層員工人均培訓時長小時26.531.629.3
按性別劃分女性員工人均培訓時長小時124.3125.1119.6
男性員工人均培訓時長小時121.4136.8143.6
全職員工受訓覆蓋率4%100100100
按級別劃分基層員工受訓覆蓋率%100100100
管理層員工受訓覆蓋率%100100100
按性別劃分女性員工受訓覆蓋率%100100100
男性員工受訓覆蓋率%100100100
員工培訓總支出萬元人民幣––195員工權益
員工勞動合同簽訂率%100100100
員工社會保險覆蓋率%100100100員工歧視事件發生數件000
員工工傷保險投入金額萬元人民幣––963
員工工傷保險覆蓋率%100100100
註：
1各類別員工流失率=年內該類別員工流失人數╱年末該類別員工人數。
2參加職業病體檢的員工覆蓋率統計口徑為報告期末職業風險崗位的員工。報告期內，公司發生3起工傷事件，已針對性加強防護教育，包括當事部門全員的安全培訓教育、現場工程控制措施等。
3各類別員工人均接受培訓時長=該類別員工接受培訓的總小時數╱年末該類別員工人數。
4各類別員工受訓覆蓋率=接受培訓的該類別員工人數╱年末該類別員工人數。282華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司283
2024年度環境、社會及管治報告
產品責任與客戶服務績效指標單位2022年2023年2024年產品責任與客戶服務報告期內違反產品和服務有關法律法規的事件數件000
產品退貨率%0.110.0870.037
已售產品因安全與健康問題回收的比例%000客戶服務接獲關於產品及服務的投訴數目件042
客戶投訴辦結率1%–100100
註：
1客戶投訴辦結率=已辦結的客戶投訴數目╱接獲關於產品及服務的投訴數目*100%。
信息安全與隱私保護指標名稱單位2022年2023年2024年經證實的洩露、盜竊或丟失客戶資料的事件數件000數據安全事件涉及的金額萬元人民幣000客戶隱私洩露事件涉及的金額萬元人民幣000供應鏈管理績效指標單位2022年2023年2024年供應商總數家551561581按區域劃分中國大陸供應商總數家413420436港澳台及海外供應商總數家138141145接受評估的供應商數目1家112114139要求整改的供應商數目家000
原輔料供應商簽訂%100100100
《環保承諾書》的百分比
原材料採購本土化比例2%313236
註：
1指公司對其實施了勞工、健康、環境、道德方面的評估的供應商數目。
2原材料採購包括：硅片、石英、靶材、氣體、化學品等生產原材料。284華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司285
2024年度環境、社會及管治報告
反貪污績效指標單位2022年2023年2024年於匯報期內對發行人或其僱員提出並已審結的件000貪污訴訟案件的數目
員工接受反貪污培訓的累計時長小時╱25422245
員工人均接受反貪污培訓的時長1小時╱╱1.2
註：
1接受反貪污培訓員工包括所有新進員工及關鍵崗位員工。員工人均接受反貪污培訓的時長=新進員工及關鍵崗位員工接受培訓時長/
新進員工及關鍵崗位員工人數。
社區投資績效指標單位2022年2023年2024年員工參與志願服務的人數人418911081100志願者活動累計時長小時628313641212
社區投入元–5000050000經濟績效績效指標單位2022年2023年2024年每股社會貢獻值1元5.463.591.87
註：
1每股社會貢獻值=（公司淨利潤+年內為國家創造的稅收+向員工支付的工資+向銀行等債權人給付的借款利息+對外捐贈額等為其他利益相關者創造的價值額－因環境污染等造成的其他社會成本）╱公司股份總數。
8.2公司遵守的法律法規列表
領域法律法規名稱環境責任
環境管理《中華人民共和國環境保護法》《中華人民共和國環境影響評價法》《中華人民共和國清潔生產促進法》《中華人民共和國環境保護稅法》等
排放與廢棄物管理《中華人民共和國大氣污染防治法》《中華人民共和國水污染防治法》《中華人民共和國固體廢物污染環境防治法》《廢棄電器電子產品回收處理管理條例》《排污許可管理條例》等
能源和資源管理《中華人民共和國節約能源法》《中華人民共和國能源法》《中華人民共和國可再生能源法》《中華人民共和國循環經濟促進法》《節約用水條例》等
產品質量《中華人民共和國產品質量法》《中華人民共和國反不正當競爭法》、歐盟《關於化學品註冊、評估、許可和限制》（簡稱「REACH」）、《關於報廢電子電氣設備指令》（簡稱「WEEE」）、關於限制
在電子電器設備中使用某些有害成份的指令（簡稱「RoHS」）等284 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 285
2024年度環境、社會及管治報告
信息安全與隱私保護《中華人民共和國網絡安全法》《中華人民共和國數據安全法》《中華人民共和國個人信息保護法》
《中華人民共和國密碼法》《計算機軟件保護條例》《網絡數據安全管理條例》
知識產權保護《中華人民共和國專利法》《中華人民共和國著作權法》《中華人民共和國商標法》《中華人民共和國專利法實施細則》《國家科學技術獎勵條例》等員工責任
員工權益《中華人民共和國勞動法》《中華人民共和國勞動合同法》《中華人民共和國社會保險法》《中華人民共和國婦女權益保障法》《中華人民共和國職業教育法》《禁止使用童工規定》
職業健康與安全《中華人民共和國職業病防治法》《中華人民共和國安全生產法》《中華人民共和國特種設備安全法》《工傷保險條例》《使用有毒物品作業場所勞動保護條例》《女職工勞動保護特別規定》《生產安全事故應急條例》等公司治理
公司治理《中華人民共和國公司法》《中華人民共和國證券法》、香港《公司條例》等
8.3對標索引表
香港聯合交易所《環境、社會及管治報告指引》（2023年12月31日起生效版）
B部分：強制披露規定強制披露項報告章節
管治架構 ESG管理體系匯報原則報告編製說明匯報範圍報告編製說明
C部分：「不遵守就解釋」條文
層面、一般披露及關鍵績效指標報告章節
主要範疇A.環境
層面A1.排放物
一般披露A1 排放與廢棄物管理
KPI A1.1 排放與廢棄物管理
ESG數據表及附註
KPI A1.2 ESG數據表及附註286 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 287
2024年度環境、社會及管治報告
層面、一般披露及關鍵績效指標報告章節
KPI A1.3 ESG數據表及附註
KPI A1.4 ESG數據表及附註
KPI A1.5 排放與廢棄物管理
ESG管理策略與目標
KPI A1.6 排放與廢棄物管理
ESG管理策略與目標
層面A2.資源使用
一般披露A2 能源管理水資源管理
KPI A2.1 ESG數據表及附註
KPI A2.2 ESG數據表及附註
KPI A2.3 能源管理
ESG管理策略與目標
KPI A2.4 水資源管理
ESG管理策略與目標
KPI A2.5 ESG數據表及附註
層面A3.環境及天然資源
一般披露A3 環境管理水資源管理循環經濟
KPI A3.1 水資源管理循環經濟
層面A4.應對氣候變化
一般披露A4 氣候變化減緩與適應
KPI A4.1 氣候變化減緩與適應
主要範疇B.社會僱傭及勞工常規
層面B1.僱傭
一般披露B1 員工權益與福利
KPI B1.1 ESG數據表及附註
KPI B1.2 ESG數據表及附註
層面B2.健康與安全
一般披露B2 員工健康與安全
KPI B2.1 ESG數據表及附註
KPI B2.2 ESG數據表及附註
KPI B2.3 員工健康與安全
層面B3.發展及培訓
一般披露B3 員工發展與培訓
KPI B3.1 ESG數據表及附註286 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 287
2024年度環境、社會及管治報告
層面、一般披露及關鍵績效指標報告章節
KPI B3.2 ESG數據表及附註
層面B4.勞工準則
一般披露B4 員工權益與福利
KPI B4.1 員工權益與福利
KPI B4.2 員工權益與福利
主要範疇B.社會營運慣例
層面B5.供應鏈管理
一般披露B5 可持續供應鏈管理
KPI B5.1 ESG數據表及附註
KPI B5.2 可持續供應鏈管理
KPI B5.3 可持續供應鏈管理
KPI B5.4 可持續供應鏈管理
層面B6.產品責任
一般披露B6 產品和服務安全與質量
KPI B6.1 產品和服務安全與質量
KPI B6.2 產品和服務安全與質量
ESG數據表及附註
KPI B6.3 研發創新與知識產權保護
KPI B6.4 產品和服務安全與質量
KPI B6.5 信息安全與隱私保護
層面B7.反貪污
一般披露B7 商業道德
KPI B7.1 ESG數據表及附註
KPI B7.2 商業道德
KPI B7.3 商業道德
層面B8.社區投資
一般披露B8 社區與公益
KPI B8.1 社區與公益
KPI B8.2 ESG數據表及附註
《上海證券交易所上市公司自律監管指引第14號－可持續發展報告（試行）》（2024年4月）披露要求對應的本報告章節應對氣候變化氣候變化減緩與適應污染物排放排放與廢棄物管理
廢棄物處理排放與廢棄物管理288華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司289
2024年度環境、社會及管治報告
披露要求對應的本報告章節
生態系統和生物多樣性保護在生物多樣性保護方面，公司四個工廠均位於工業地塊內，不涉及生態保護紅線、水源地保護區等管控要求。
環境合規管理環境管理能源利用能源管理水資源利用水資源管理循環經濟循環經濟鄉村振興社區與公益社會貢獻社區與公益創新驅動研發創新與知識產權保護
科技倫理公司核心業務集中於半導體晶圓的生產製造，不涉及該議題。
供應鏈安全可持續供應鏈管理
平等對待中小企業截止2024年底，公司應付賬款（含應付票據）餘額不超過人民幣300億元或佔總資產的比重超過50%。
產品和服務安全與質量產品和服務安全與質量數據安全與客戶隱私保護信息安全與隱私保護員工員工權益與福利員工健康與安全員工發展與培訓
盡職調查利益相關方溝通、盡職調查
利益相關方溝通利益相關方溝通、盡職調查反商業賄賂及反貪污商業道德反不正當競爭商業道德自主披露的議題綠色產品綠色產品清潔技術機遇清潔技術機遇風險合規管理風險合規管理
公司治理公司治理288華虹半導體有限公司●2024年度報告2024年度報告●華虹半導體有限公司289
2024年度環境、社會及管治報告
上海市國有控股上市公司環境、社會與治理(ESG)指標體系（1.0版）索引表關鍵績效指標報告章節
E環境
E1環境管理
E1.1 環境管理目標和制度 ESG管理策略和目標環境管理
E1.2 通過環境管理體系認證 環境管理
E1.3 綠色產品研發與環保技術使用 綠色產品清潔技術機遇
E1.4 環保總投入 環境管理
E1.5 環保培訓績效 環境管理
E2能源
E2.1 能源管理目標和規劃 ESG管理策略和目標能源管理
E2.2 節約能源舉措 能源管理
E2.3 可再生能源開發與應用 能源管理
E2.4 能源消耗總量 ESG數據表及附註
E3資源
E3.1 資源管理體系和規劃 水資源管理循環經濟
E3.2 水資源目標和規劃 水資源管理
E3.3 節約用水舉措 水資源管理
E3.4 年度用水總量 ESG數據表及附註
E3.5 其他資源使用管理 綠色產品
E4污染物
E4.1 廢水管理目標和規劃 ESG管理策略和目標排放與廢棄物管理
E4.2 減少廢水排放舉措 排放與廢棄物管理
E4.3 廢水循環使用量 ESG數據表及附註
E4.4 廢水污染物排放量 ESG數據表及附註
E4.5 廢氣管理目標和規劃 ESG管理策略和目標排放與廢棄物管理
E4.6 減少廢氣排放舉措 排放與廢棄物管理
E4.7 廢氣污染物排放量 ESG數據表及附註290 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 291
2024年度環境、社會及管治報告
關鍵績效指標報告章節
E4.8 固體廢棄物管理目標和規劃 ESG管理策略和目標排放與廢棄物管理
E4.9 固體廢棄物處理舉措 排放與廢棄物管理
E4.10 固體廢棄物排放量 ESG數據表及附註
E4.11 固體廢棄物回收、利用、處置量 ESG數據表及附註
E4.12 其他污染物管理 公司採取建築隔音、設備加裝減震裝置等噪聲防控措施。
E5氣候變化
E5.1 識別氣候變化風險，以及建立應對氣候變 ESG管理策略和目標化的目標、戰略氣候變化減緩與適應
E5.2 助力「雙碳」目標的舉措 氣候變化減緩與適應
E5.3 碳核查╱盤查舉措 氣候變化減緩與適應
E5.4 溫室氣體排放量 ESG數據表及附註
E6生物多樣性
E6.1 生物多樣性保護制度 在生物多樣性保護方面，公司四個工廠均E6.2 生物多樣性保護舉措 位於工業地塊內，不涉及生態保護紅線、水源地保護區等管控要求。
S社會
S1產品和服務
S1.1 產品安全與質量管理制度 產品和服務安全與質量
S1.2 通過產品質量管理體系認證 產品和服務安全與質量
S1.3 產品研發創新 研發創新與知識產權保護
S1.4 知識產權保護 研發創新與知識產權保護
S1.5 客戶信息保護和隱私 信息安全與隱私保護
S1.6 客戶服務管理制度 產品和服務安全與質量
S1.7 負責任宣傳 產品和服務安全與質量
S1.8 客戶投訴量╱投訴解決率 產品和服務安全與質量
S1.9 客戶滿意度 產品和服務安全與質量290 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 291
2024年度環境、社會及管治報告
關鍵績效指標報告章節
S2員工責任
S2.1 員工僱傭和員工組成 員工權益與福利
S2.2 員工流失率 ESG數據表及附註
S2.3 員工民主管理 員工權益與福利
S2.4 薪酬與福利體系 員工權益與福利
S2.5 員工關愛 員工權益與福利
S2.6 員工滿意度 員工權益與福利
S2.7 員工職業健康安全管理 員工健康與安全
S2.8 通過職業健康安全管理體系認證 員工健康與安全
S2.9 安全應急管理舉措 員工健康與安全
S2.10 安全生產投入總額 員工健康與安全
S2.11 安全生產培訓績效 員工健康與安全
S2.12 因工受傷和死亡 ESG數據表及附註
S2.13 員工體檢覆蓋率 ESG數據表及附註
S2.14 員工職業發展制度 員工發展與培訓
S2.15 員工培訓和實踐舉措 員工發展與培訓
S2.16 員工發展的成效 員工發展與培訓
S3供應鏈責任
S3.1 供應商管理制度 可持續供應鏈管理
S3.2 供應商ESG審查 可持續供應鏈管理
S4社區責任
S4.1 開展公益慈善活動 社區與公益
S4.2 公益慈善投入 ESG數據表及附註
S4.3 志願服務績效 ESG數據表及附註
S5企業責任
S5.1 服務國家或上海市戰略 研發創新與知識產權保護清潔技術機遇社區與公益
S5.2 應對公共危機 氣候變化減緩與適應
S5.3 信息安全 信息安全與隱私保護
S5.4 公共服務 社區與公益
S5.5 稅務貢獻 《華虹半導體有限公司2024年年度報告》
（A股）財務報告章節292 華虹半導體有限公司 ● 2024 年度報告 2024 年度報告 ● 華虹半導體有限公司 PB
2024年度環境、社會及管治報告
關鍵績效指標報告章節
G治理
G1公司治理
G1.1 黨的領導 《華虹半導體有限公司2024年年度報告》
（A股）環境、社會責任和其他公司治理章節
G1.2 董事長╱總經理分設 董事長與總經理分設
G1.3 董事佔比 公司治理
G1.4 合規管理體系 風險合規管理
G1.5 風險管理體系 風險合規管理
G1.6 審計制度 商業道德
G1.7 避免違反商業道德的舉措 商業道德
G1.8 反壟斷與公平競爭 商業道德
G2 ESG治理
G2.1 董事會參與ESG管理 董事會ESG管理聲明
ESG管理架構
G2.2 ESG工作組織架構 ESG管理架構
G2.3 ESG戰略╱目標 ESG管理策略和目標
G2.4 ESG利益相關方識別 利益相關方溝通、盡職調查
G2.5 實質性議題識別 雙重重要性分析
G2.6 ESG相關制度 ESG管理架構
G2.7 開展利益相關方溝通活動 利益相關方溝通、盡職調查
G2.8 管理層薪酬同ESG績效掛鈎 環境、安全、研發等目標與管理層薪酬掛鈎
G2.9 具體業務考慮ESG要素 氣候變化減緩與適應清潔技術機遇
G3數據治理
G3.1 基礎平台建設 員工健康與安全研發創新與知識產權保護
G3.2 數據匯聚互通 生產、環境、採購數據在公司內網中保持，因商業秘密原因設置訪問權限，與外網形成物理隔離。
G3.3 數據治理體系 不涉及PB HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 293
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Ernst & Young 安永會計師事務所 Tel電話：+852 2846 9888
27/F One Taikoo Place 香港鰂魚涌英皇道979號 Fax傳真：+852 2868 4432
979 King’s Road 太古坊一座27樓 ey.com
Quarry Bay Hong Kong
To the members of Hua Hong Semiconductor Limited 致華虹半導體有限公司列位股東
(Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司）
Opinion 意見
We have audited the consolidated financial statements of Hua 吾等已審核華虹半導體有限公司（「貴公司」）
Hong Semiconductor Limited (the “Company”) and its subsidiaries 及其子公司（「貴集團」）載於第302至411頁的
(the “Group”) set out on pages 302 to 411 which comprise the 綜合財務報表，當中包括於二零二四年十二consolidated statement of financial position as at 31 December 月三十一日的綜合財務狀況表，以及截至該
2024 and the consolidated statement of profit or loss the 日止年度的綜合損益表、綜合全面收益表、consolidated statement of comprehensive income the consolidated 綜合權益變動表及綜合現金流量表，以及綜statement of changes in equity and the consolidated statement of 合財務報表附註（包括重大會計政策資料）。
cash flows for the year then ended and notes to the consolidated
financial statements including material accounting policy
information.吾等認為，該等綜合財務報表已根據香港會In our opinion the consolidated financial statements give a true and 計師公會（「香港會計師公會」）頒佈的香港財
fair view of the consolidated financial position of the Group as at 31 務報告準則（「香港財務報告準則」）真實而公
December 2024 and of its consolidated financial performance and 平地反映 貴集團於二零二四年十二月三十
its consolidated cash flows for the year then ended in accordance 一日的綜合財務狀況，及其截至該日止年度with Hong Kong Financial Reporting Standards (“HKFRSs”) 的綜合財務表現及綜合現金流量，並已按照issued by the Hong Kong Institute of Certified Public Accountants 香港公司條例妥為編製。
(“HKICPA”) and have been properly prepared in compliance with
the Hong Kong Companies Ordinance.294 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 295
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Basis for opinion 意見的基礎
We conducted our audit in accordance with Hong Kong Standards 吾等已根據香港會計師公會頒佈的香港審計
on Auditing (“HKSAs”) issued by the HKICPA. Our responsibilities 準則（「香港審計準則」）進行審計。根據該等under those standards are further described in the Auditor’s 準則，吾等的責任於本報告核數師就審計綜responsibilities for the audit of the consolidated financial statements 合財務報表承擔的責任一節進一步闡述。根section of our report. We are independent of the Group in 據香港會計師公會專業會計師道德守則（「守accordance with the HKICPA’s Code of Ethics for Professional 則」），吾等獨立於 貴集團，並已遵循守則Accountants (the “Code”) and we have fulfilled our other ethical 履行其他道德責任。吾等相信，吾等所獲得responsibilities in accordance with the Code. We believe that the 的審計憑證能充足和適當地為吾等的意見提
audit evidence we have obtained is sufficient and appropriate to 供基礎。
provide a basis for our opinion.Key audit matters 關鍵審計事項
Key audit matters are those matters that in our professional 關鍵審計事項是根據吾等的專業判斷，認為judgement were of most significance in our audit of the 對本期綜合財務報表的審計最為重要的事
consolidated financial statements of the current period. These 項。這些事項是在對綜合財務報表整體進行matters were addressed in the context of our audit of the 審計並形成意見的背景下進行處理的，吾等consolidated financial statements as a whole and in forming our 不對這些事項提供單獨的意見。吾等對下述opinion thereon and we do not provide a separate opinion on these 每一事項在審計中是如何應對的描述也以此
matters. For each matter below our description of how our audit 為背景。
addressed the matter is provided in that context.We have fulfilled the responsibilities described in the Auditor’s 吾等已經履行本報告核數師就審計綜合財務
responsibilities for the audit of the consolidated financial statements 報表承擔的責任一節所述的責任，包括有關section of our report including in relation to these matters. 該等事項的責任。因此，吾等的審計包括執Accordingly our audit included the performance of procedures 行為應對綜合財務報表重大錯誤陳述風險的
designed to respond to our assessment of the risks of material 評估而設計的程序。吾等執行審計程序的結misstatement of the consolidated financial statements. The results 果，包括應對以下事項所執行的程序，為吾of our audit procedures including the procedures performed to 等就隨附的綜合財務報表的審計意見提供基
address the matters below provide the basis for our audit opinion 礎。
on the accompanying consolidated financial statements.294 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 295
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Key audit matters (continued) 關鍵審計事項（續）
How our audit addressed the 關鍵審計事項在審
Key audit matter key audit matter 關鍵審計事項 計中是如何應對的
Impairment of long-term assets 長期資產減值
As at 31 December 2024 Our audit procedures included 於二零二四年十二月三 吾等的審計程序包
m a n a g e m e n t m a d e a among others evaluating the 十一日，管理層判斷賬 括（其中包括）評j udgement tha t a cer ta in competence capabilities and 面值為2464百萬美元 估 貴集團所委聘
cash-generating unit (“CGU”) objectivity of the independent 的若干現金產生單位 的獨立外部估值師
with a carrying amount of external valuer engaged by （「現金產生單位」）（相 的資質、能力及客US$2464 million representing the Group and involving our 當於 貴集團大部分 觀性，邀請內部專a signif icant proportion of internal specialists to assist us 資產總值）存在減值跡 家協助吾等評估減
the Group’s total assets had in evaluating the methodology 象，並委聘外部專家採 值測試的方法及貼indicators of impairment and of the impairment test and 用貼現現金流量法進行 現率等關鍵假設；
engages an external expert key assumptions such as the 減值測試，估計其可收 評估其他關鍵假to perform an impairment test discounted rate evaluating 回金額。該事項對吾等 設，特別是預測期using the discounted cash the other key assumptions in 的審計而言屬重大，原 長度、收入增長flow method to estimate its particular the projection period 因是長期資產的賬面值 率、毛利率及淨利
recoverable amount. This matter length revenue growth rate 對綜合財務報表而言屬 率；以及審查綜合
was significant to our audit gross profit margin and net profit 重要，且減值測試過程 財務報表中的相關because the carrying amount of margin and reviewing relevant 複雜並涉及重大判斷。 披露。
long-lived assets was material disclosures in the consolidated
to the consolidated financial financial statements. 貴集團有關長期資產減
statements and the impairment 值的披露載於財務報表
test process was complex and 附註3及13。
involved significant judgements.T h e G ro u p ’s d i s c l o s u re s
about the impairment of long-
lived assets are included in
notes 3 and 13 to the financial
statements.296 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 297
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Key audit matters (continued) 關鍵審計事項（續）
How our audit addressed the 關鍵審計事項在審
Key audit matter key audit matter 關鍵審計事項 計中是如何應對的
Fair value of an unlisted equity investment 未上市股權投資之公平值
The Group’s equity investments Our audit procedures included 於二零二四年十二月三 吾等的審計程序包
designated at fair value through among others assessing the 十一日， 貴集團指定 括（其中包括）評other comprehensive income as competence capabilities and 按公平值計入其他全面 估 貴集團所委聘
at 31 December 2024 included objectivity of the independent 收益的股權投資包括未 的獨立外部估值師
an unlisted equity investment e x t e r n a l v a l u e r e n g a g e d 上市股權投資269百萬 的資質、能力及客
amounting to US$269 million. by the Group and involving 美元。 貴集團於各報 觀性及在內部專家The Group measures the our in ternal specia l is ts to 告期末按公平值對該未 的協助下，評估於unlisted equity investment at assist us in evaluating the 上市股權投資進行計量 評估時使用的估值
fair value at the end of each methodology of the valuation 並聘請外部專家評估其 方法及關鍵假設，reporting period and engages and the key assumptions used 公平值。於年內，該事 如確定比較上市公an external expert to assess in the valuation such as the 項對吾等的審計而言屬 司（同業）、選擇
its fair value. During the year determination of comparable 重大，乃由於未上市股 價格倍數及缺乏流this matter was significant to publ ic companies (peers) 權投資的賬面值對綜合 通性的折讓價之估
our audit because the carrying selection of the price multiple 財務報表而言屬重要， 計。
amount of the unlisted equity and estimation of the discount 且估值過程複雜，並涉investment was material to for illiquidity. 及重大判斷。
the consol idated f inancial
statements and the valuation 貴集團關於評估未上市
process was complex and 股權投資的披露載於
involved significant judgements. 財務報表附註3、18及
37，其中說明管理層
The Group’s disclosures about 於評估時使用的關鍵假
the valuation of the unlisted 設。
equity investment are included
in notes 3 18 and 37 to the
financial statements which
explain the key assumptions
that management used in the
valuation.296 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 297
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Key audit matters (continued) 關鍵審計事項（續）
How our audit addressed the 關鍵審計事項在審
Key audit matter key audit matter 關鍵審計事項 計中是如何應對的
Fair value of an investment property 一項投資物業的公平值
The Group recognised an Our audit procedures included 於二零二四年十二月三 吾等的審計程序包
investment property amounting among others assessing the 十一日， 貴集團確認 括（其中包括）評to US$164 million as at 31 competence capabilities and 的投資物業金額為164 估 貴集團所委聘
December 2024. The Group objectivity of the independent 百萬美元。 貴集團於 的獨立外部估值師m e a s u re s i t s i n v e s t m e n t external valuers engaged by 各報告期末按公平值計 的資質、能力及客
property at fair value at the the Group comparing property- 量其投資物業，並委聘 觀性，將估值所用end of each reporting period re la ted data used for the 外部專家評估其公平 的物業相關資料
and engages external experts valuation with the underlying 值。於年內，該事項對 與相關文件進行比t o assess i t s f a i r va l ue . documentation and involving 吾等的審計而言屬重 較，並邀請內部專During the year this matter our in ternal specia l is ts to 大，因為投資物業的賬 家協助吾等評估估was significant to our audit assist us in evaluating the 面值對綜合財務報表而 值方法及於估值中
because the carrying amount methodology of the valuation 言屬重要，且估值過程 使用的關鍵假設，of the investment property was and the key assumptions used 複雜並涉及重大判斷。 如估計租賃價值、material to the consolidated in the valuation such as the 年期回報率、復歸
financial statements and the estimated rental value term 貴集團對投資物業估值 回報率及長期空置
valuation process was complex yield reversionary yield and 的披露載於財務報表附 率並審閱綜合財務
a n d i n v o l v e d s i g n i f i c a n t long-term vacancy rate and 註3及14，其中解釋管 報表的相關披露。
judgements. reviewing relevant disclosures 理層於估值中使用的關
in the consolidated financial 鍵假設。
T h e G ro u p ’s d i s c l o s u re s statements.about the valuation of the
i n v e s t m e n t p ro p e r t y a re
included in notes 3 and 14 to
the financial statements which
explain the key assumptions
that management used in the
valuation.298 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 299
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Other information included in the Annual Report 年報所載的其他資料
The directors of the Company are responsible for the other 貴公司董事須對其他資料負責。其他資料包information. The other information comprises the information 括年報所載資料（綜合財務報表及吾等就此發included in the Annual Report other than the consolidated financial 出的核數師報告除外）。
statements and our auditor’s report thereon.Our opinion on the consolidated financial statements does not cover 吾等對綜合財務報表的意見並不涵蓋其他資
the other information and we do not express any form of assurance 料，吾等亦不會就其發表任何形式的鑒證結conclusion thereon. 論。
In connection with our audit of the consolidated financial 就審計綜合財務報表而言，吾等的責任是閱statements our responsibility is to read the other information and 讀其他資料，及在此過程中，考慮其他資料in doing so consider whether the other information is materially 是否與綜合財務報表或吾等在審計過程中所
inconsistent with the consolidated financial statements or our 了解的情況有重大不符，或者似乎有重大錯knowledge obtained in the audit or otherwise appears to be 誤陳述。倘吾等基於已進行的工作認為其他materially misstated. If based on the work we have performed 資料出現重大錯誤陳述，吾等須報告有關事we conclude that there is a material misstatement of this other 實。就此，吾等並無報告事項。
information we are required to report that fact. We have nothing to
report in this regard.Responsibilities of the directors for the 董事對綜合財務報表須承擔的責
consolidated financial statements 任
The directors of the Company are responsible for the preparation 貴公司董事須負責根據香港會計師公會頒佈
of the consolidated financial statements that give a true and fair 的香港財務報告準則和香港公司條例編製綜
view in accordance with HKFRSs issued by the HKICPA and the 合財務報表以作出真實而公平的反映，並落Hong Kong Companies Ordinance and for such internal control 實董事認為必須之內部控制，以使綜合財務as the directors determine is necessary to enable the preparation 報表之編製不存在由於欺詐或錯誤而導致的
of consolidated financial statements that are free from material 重大錯誤陳述。
misstatement whether due to fraud or error.In preparing the consolidated financial statements the directors 在編製綜合財務報表時， 貴公司董事負責評of the Company are responsible for assessing the Group’s ability 估 貴集團持續經營的能力，並在適用情況to continue as a going concern disclosing as applicable matters 下披露與持續經營有關的事項，以及使用持related to going concern and using the going concern basis of 續經營為會計基礎，除非 貴公司董事有意accounting unless the directors of the Company either intend to 將 貴集團清盤或停止經營，或別無其他實liquidate the Group or to cease operations or have no realistic 際的替代方案。
alternative but to do so.The directors of the Company are assisted by the Audit Committee 審核委員會協助 貴公司董事履行監督 貴
in discharging their responsibilities for overseeing the Group’s 集團財務報告過程的責任。
financial reporting process.298 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 299
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Auditor’s responsibilities for the audit of the 核數師就審計綜合財務報表承擔
consolidated financial statements 的責任
Our objectives are to obtain reasonable assurance about whether 吾等的目標，是對綜合財務報表整體是否不the consolidated financial statements as a whole are free from 存在由於欺詐或錯誤而導致的重大錯誤陳述
material misstatement whether due to fraud or error and to issue 取得合理保證，並出具包括吾等意見的核數an auditor’s report that includes our opinion. Our report is made 師報告。吾等按照香港公司條例第405條僅向solely to you as a body in accordance with section 405 of the 整體股東報告，除此之外本報告別無其他目Hong Kong Companies Ordinance and for no other purpose. We 的。吾等不會就本報告的內容向任何其他人do not assume responsibility towards or accept liability to any other 士負上或承擔責任。
person for the contents of this report.Reasonable assurance is a high level of assurance but is not a 合理保證是高水平的保證，但不能保證按照guarantee that an audit conducted in accordance with HKSAs will 香港審計準則進行的審計總能發現存在的重
always detect a material misstatement when it exists. Misstatements 大錯誤陳述。錯誤陳述可以由欺詐或錯誤引can arise from fraud or error and are considered material if 起，如果合理預期它們單獨或匯總起來可能individually or in the aggregate they could reasonably be expected 影響綜合財務報表使用者依賴綜合財務報表
to influence the economic decisions of users taken on the basis of 所作出的經濟決定，則有關的錯誤陳述可被these consolidated financial statements. 視作重大。
As part of an audit in accordance with HKSAs we exercise 吾等根據香港審計準則進行審計的工作之
professional judgement and maintain professional scepticism 一，是運用專業判斷，在整個審計過程中保throughout the audit. We also: 持專業懷疑態度。吾等亦：
* Identify and assess the risks of material misstatement of the * 識別及評估綜合財務報表由於欺詐或錯
consolidated financial statements whether due to fraud or 誤而導致的重大錯誤陳述風險，因應該error design and perform audit procedures responsive to 等風險設計及執行審計程序，以及獲得those risks and obtain audit evidence that is sufficient and 充足及適當的審計憑證為吾等的意見
appropriate to provide a basis for our opinion. The risk of 提供基礎。由於欺詐涉及合謀串通、偽not detecting a material misstatement resulting from fraud is 造、故意遺漏、誤導性陳述或凌駕於內
higher than for one resulting from error as fraud may involve 部控制之上，因此未能發現由此造成的collusion forgery intentional omissions misrepresentations or 重大錯誤陳述風險比未能發現由於錯誤
the override of internal control. 而導致的重大錯誤陳述風險更高。
* Obtain an understanding of internal control relevant to the * 了解與審計有關的內部控制，以設計恰audit in order to design audit procedures that are appropriate 當的審計程序，但並非旨在對 貴集團in the circumstances but not for the purpose of expressing an 內部控制的有效性發表意見。
opinion on the effectiveness of the Group’s internal control.* Evaluate the appropriateness of accounting policies used * 評估所用會計政策的恰當性，以及董事and the reasonableness of accounting estimates and related 所作出的會計估算和相關披露的合理性。
disclosures made by the directors.300 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 301
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Auditor’s responsibilities for the audit of the 核數師就審計綜合財務報表承擔
consolidated financial statements (continued) 的責任（續）
* Conclude on the appropriateness of the directors’ use of the * 總結董事採用以持續經營為基礎的會計
going concern basis of accounting and based on the audit 法的恰當性，並根據已獲取的審計憑evidence obtained whether a material uncertainty exists 證，總結是否有可能對 貴集團持續related to events or conditions that may cast significant doubt 經營能力構成重大疑問的事件或情況等
on the Group’s ability to continue as a going concern. If we 重大不確定因素。倘若吾等總結認為有conclude that a material uncertainty exists we are required to 重大不確定因素，吾等需要在核數師報draw attention in our auditor’s report to the related disclosures 告中提請注意綜合財務報表內的相關披
in the consolidated financial statements or if such disclosures 露，或如果相關披露不足，則修訂吾等are inadequate to modify our opinion. Our conclusions are 的意見。吾等的結論是基於截至核數師based on the audit evidence obtained up to the date of our 報告日期所獲得的審計憑證。然而，未auditor’s report. However future events or conditions may 來事件或情況可能導致 貴集團不再具
cause the Group to cease to continue as a going concern. 有持續經營的能力。
* Evaluate the overall presentation structure and content of the * 評估綜合財務報表（包括披露）的整體列
consolidated financial statements including the disclosures 報、架構和內容，以及綜合財務報表是and whether the consolidated financial statements represent 否中肯反映相關交易及事項。
the underlying transactions and events in a manner that
achieves fair presentation.* Plan and perform the group audit to obtain sufficient * 計劃及進行集團審計，以就 貴集團內appropriate audit evidence regarding the financial information 實體或業務單位的財務資料獲取充足、
of the entities or business units within the Group as a basis for 適當的審計憑證，作為對綜合財務報表forming an opinion on the consolidated financial statements. 發表意見的基礎。吾等負責指導、監督We are responsible for the direction supervision and review of 和審閱為集團審計而執行的審計工作。
the audit work performed for purposes of the group audit. We 我們為審計意見承擔全部責任。
remain solely responsible for our audit opinion.We communicate with the Audit Committee regarding among other 吾等就（其中包括）審計工作的計劃範圍和時matters the planned scope and timing of the audit and significant 間以及重大審計發現（包括吾等在審計過程中audit findings including any significant deficiencies in internal 發現的任何內部控制的重大缺失）與審核委員
control that we identify during our audit. 會進行溝通。
We also provide the Audit Committee with a statement that we 吾等亦向審核委員會提交聲明，確認吾等已have complied with relevant ethical requirements regarding 遵守有關獨立性的道德要求，並就所有被合independence and to communicate with them all relationships 理認為可能影響吾等獨立性的關係和其他事
and other matters that may reasonably be thought to bear on our 宜以及為消除威脅而採取的行動或應用的保
independence and where applicable actions taken to eliminate 障措施（如適用），與審核委員會進行溝通。
threats or safeguards applied.300 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 301
INDEPENDENT AUDITOR’S REPORT獨立核數師報告
Auditor’s responsibilities for the audit of the 核數師就審計綜合財務報表承擔
consolidated financial statements (continued) 的責任（續）
From the matters communicated with the Audit Committee we 吾等通過與審核委員會溝通，確定哪些是本determine those matters that were of most significance in the 期綜合財務報表審計工作的最重要事項，即audit of the consolidated financial statements of the current 關鍵審計事項。除非法律或法規不容許公開period and are therefore the key audit matters. We describe 披露此等事項或在極罕有的情況下，吾等認these matters in our auditor’s report unless law or regulation 為披露此等事項可合理預期的不良後果將超
precludes public disclosure about the matter or when in extremely 過公眾知悉此等事項的利益而不應在報告中
rare circumstances we determine that a matter should not be 予以披露，否則吾等會在核數師報告中描述communicated in our report because the adverse consequences 此等事項。
of doing so would reasonably be expected to outweigh the public
interest benefits of such communication.The engagement partner on the audit resulting in this independent 出具本獨立核數師報告的審計項目合夥人為
auditor’s report is Lawrence K.W. Lau. 劉國華。
Ernst & Young 安永會計師事務所
Certified Public Accountants 執業會計師
Hong Kong 香港
27 March 2025 二零二五年三月二十七日302 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED PB
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
綜合損益表 Year ended 31 December 2024截至二零二四年十二月三十一日止年度
20242023
二零二四年二零二三年
Notes US$’000 US$’000附註千美元千美元
Revenue 銷售收入 5 2003993 2286113
Cost of sales 銷售成本 (1798865) (1799017)
Gross profit 毛利 205128 487096
Other income and gains 其他收入及收益 5 149072 144370投資物業的公平值
Fair value (loss)/gain on an investment property （虧損）╱收益 (39) 103
Selling and distribution expenses 銷售及分銷費用 (9628) (10189)
Administrative expenses 管理費用 (351276) (322868)
Other expenses 其他費用 5 (33395) (33666)
Finance costs 財務費用 7 (97113) (100497)
Share of profits of associates 分佔聯營公司溢利 3459 9230
(LOSS)/PROFIT BEFORE TAX 稅前（虧損）╱溢利 6 (133792) 173579
Income tax expense 所得稅開支 10 (6593) (47154)
(LOSS)/PROFIT FOR THE YEAR 年內（虧損）╱溢利 (140385) 126425
Attributable to: 下列人士應佔：
Owners of the parent 母公司擁有人 58108 280034
Non-controlling interests 非控股權益 (198493) (153609)
(140385)126425
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 12
Basic 基本
– For profit for the year －年內溢利 US$0.034 US$0.189
0.034美元0.189美元
Diluted 攤薄
– For profit for the year －年內溢利 US$0.034 US$0.188
0.034美元 0.188美元PB HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 303
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Year ended 31 December 2024截至二零二四年十二月三十一日止年度綜合全面收益表
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
(LOSS)/PROFIT FOR THE YEAR 年內（虧損）╱溢利 (140385) 126425
OTHER COMPREHENSIVE (LOSS)/INCOME 其他全面（虧損）╱收益
Other comprehensive loss that may be reclassified 於其後期間可能重新分類至
to profit or loss in subsequent periods: 損益的其他全面虧損：
Exchange differences on translation of foreign 換算海外業務產生的外匯
operations 差額 (123017) (56005)
Net other comprehensive loss that may be 於其後期間可能重新分類至
reclassified to profit or loss in subsequent periods 損益的其他全面虧損淨額 (123017) (56005)
Other comprehensive income that will not be 於其後期間不會重新分類至
reclassified to profit or loss in subsequent periods: 損益的其他全面收益：
Equity investments designated at fair value through 指定按公平值計入其他全面
other comprehensive income: 收益的股權投資：
Changes in fair value 公平值變動 7991 95310
Income tax effect 所得稅影響 (1199) (14628)
679280682
Share of other comprehensive (loss)/income of 分佔聯營公司的其他全面
associates （虧損）╱收益 (663) 1352
Net other comprehensive income that will not be 於其後期間不會重新分類至
reclassified to profit or loss in subsequent periods 損益的其他全面收益淨額 6129 82034
OTHER COMPREHENSIVE (LOSS)/INCOME FOR 年內其他全面（虧損）╱
THE YEAR NET OF TAX 收益，扣除稅項 (116888) 26029TOTAL COMPREHENSIVE (LOSS)/INCOME FOR 年內全面（虧損）╱收益總額
THE YEAR (257273) 152454
Attributable to: 下列人士應佔：
Owners of the parent 母公司擁有人 (21431) 331980
Non-controlling interests 非控股權益 (235842) (179526)
(257273) 152454304 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 305
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
綜合財務狀況表 31 December 2024二零二四年十二月三十一日
31 December 31 December
20242023
二零二四年二零二三年十二月三十一日十二月三十一日
Notes US$’000 US$’000附註千美元千美元
NON-CURRENT ASSETS 非流動資產
Property plant and equipment 物業、廠房及設備 13 5859117 3519292
Investment property 投資物業 14 164153 166643
Right-of-use assets 使用權資產 15 77761 78545
Intangible assets 無形資產 16 31456 49827
Investments in associates 於聯營公司的投資 17 139799 139099
Equity investments designated at fair value 指定按公平值計入其他全面
through other comprehensive income 收益的權益投資 18 289311 270506
Long-term prepayments to third parties 應付第三方之長期預付款項 21008 149953
Total non-current assets 非流動資產總額 6582605 4373865
CURRENT ASSETS 流動資產
Properties under development 開發中物業 19 221905 178828
Inventories 存貨 20 467060 449749
Trade and notes receivables 貿易應收款項及應收票據 21 270461 278669
Prepayments other receivables and 預付款項、其他應收款項及
other assets 其他資產 22 363997 33821
Due from related parties 應收關聯方款項 35(c) 18324 11219
Pledged deposits 已抵押存款 23 31624 32088
Cash and cash equivalents 現金及現金等價物 23 4459132 5585181
Total current assets 流動資產總額 5832503 6569555
CURRENT LIABILITIES 流動負債
Trade payables 貿易應付款項 24 298372 235410
Other payables and accruals 其他應付款項及暫估費用 25 880447 430478
Interest-bearing bank borrowings 計息銀行借款 26 280704 193035
Lease liabilities 租賃負債 27 4912 3076
Government grants 政府補助 29 57563 35017
Due to related parties 應付關聯方款項 35(c) 9125 13876
Income tax payable 應付所得稅 31115 61495
Total current liabilities 流動負債總額 1562238 972387
NET CURRENT ASSETS 流動資產淨額 4270265 5597168
TOTAL ASSETS LESS CURRENT 資產總值減流動負債
LIABILITIES 10852870 9971033
continued 續╱…304 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 305
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 December 2024
二零二四年十二月三十一日綜合財務狀況表
31 December 31 December
20242023
二零二四年二零二三年十二月三十一日十二月三十一日
Notes US$’000 US$’000附註千美元千美元
NON-CURRENT LIABILITIES 非流動負債
Interest-bearing bank borrowings 計息銀行借款 26 1917235 1906526
Lease liabilities 租賃負債 27 18068 19129
Deferred tax liabilities 遞延稅項負債 28 10948 30834
Total non-current liabilities 非流動負債總額 1946251 1956489
Net assets 資產淨額 8906619 8014544
EQUITY 權益
Share capital 股本 30 4938457 4933559
Reserves 儲備 32 1308569 1367436
Total equity attributable to owners of 母公司擁有人應佔權益總額
the parent 6247026 6300995
Non-controlling interests 非控股權益 40 2659593 1713549
Total equity 權益總額 8906619 8014544
Junjun Tang Jun Ye唐均君葉峻
Director Director
董事 董事306 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 307
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
綜合權益變動表 Year ended 31 December 2024截至二零二四年十二月三十一日止年度
Attributable to owners of the parent母公司擁有人應佔
Fair value
reserve of
financial
assets
Other at fair
capital Share of value
reserve other through
Share and comprehensive other Statutory Exchange Non-
Share Merger option contributed income of comprehensive Revaluation reserve fluctuation Retained controlling Total
capital reserve reserve surplus associates income surplus# funds reserve profits Total interests equity按公平值計入其他全面其他資本分佔聯營收益的購股權儲備及公司的金融資產之法定外匯波動非控股權益
股本合併儲備儲備供款盈餘其他全面收益公平值儲備重估盈餘#儲備基金儲備留存溢利總計權益總額
Notes US$’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附註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 30) (note 31) (note 32) (note 40)（附註30）（附註32）（附註31）（附註40）
At 1 January 2024 於二零二四年一月一日 4933559 645494 12794 35685 1352 58435 99257 233042 (60233) 341610 6300995 1713549 8014544
Profit/(loss) for the year 年內溢利╱（虧損） – – – – – – – – – 58108 58108 (198493) (140385)
Other comprehensive income 年內其他全面收益：
for the year:
Change in fair value of equity 按公平值計入其他
investments at fair value 全面收益的股權投資的
through other comprehensive 公平值變動，扣除稅項income net of tax – – – – – 6792 – – – – 6792 – 6792
Share of other comprehensive 分佔聯營公司的其他
income of associates 全面收益 – – – – (663) – – – – – (663) – (663)
Exchange differences related 有關海外業務的
to foreign operations 外匯差額 – – – – – – – – (8566 8) – (8566 8) (3734 9) (123017)
Total comprehensive 年內全面收益總額
income for the year – – – – (663) 6792 – – (85668) 58108 (21431) (235842) (257273)
Dividend declared 宣派股息 – – – – – – – – – (36223) (36223) – (36223)
Transfer of fair value reserve 於出售按公平值計入
upon the disposal of equity 其他全面收益的股權
investments at fair value 投資時轉撥公平值儲備
through other
comprehensive income – – – – – (592) – – – 592 – – –
Issue of shares 發行股份 30 4898 – (1215) – – – – – – – 3683 – 3683
Equity-settled share option 以權益結算的購股權
arrangements 安排 31 – – 12 – – – – – – – 12 6 18
Capital contribution from 非控股權益出資
non-controlling interests – – – – – – – – – – – 1181880 1181880
Transfer from retained profits 轉撥自一間子公司
generated by a subsidiary 產生的留存溢利 – – – – – – – 23324 – (23324) – – –
At 31 December 2024 於二零二四年
十二月三十一日4938457645494*11591*35685*689*64635*99257*256366*(145901)*340753*624702626595938906619
continued 續╱…306 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 307
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Year ended 31 December 2024截至二零二四年十二月三十一日止年度綜合權益變動表
Attributable to owners of the parent母公司擁有人應佔
Fair value
reserve of
Other financial
capital Share of assets at
reserve other fair value
and comprehensive through other Statutory Exchange Non-
Share Merger Share option contributed income of comprehensive Revaluation reserve fluctuation Retained controlling Total
capital reserve reserve surplus associates income surplus# funds reserve profits Total interests equity按公平值計入其他全面其他資本分佔聯營收益的
合併購股權儲備及公司的金融資產之重估法定外匯波動（累計虧損）╱非控股權益
股本儲備儲備供款盈餘其他全面收益公平值儲備盈餘#儲備基金儲備留存溢利總計權益總額
Notes 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附註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 30) (note 31) (note 32) (note 40)（附註30）（附註32）（附註31）（附註40）
At 1 January 2023 於二零二三年一月一日 1994462 645494 13346 35685 – (22247) 99257 191125 (30145) 103493 3030470 1104998 4135468
Profit/(loss) for the year 年內溢利╱（虧損） – – – – – – – – – 280034 280034 (153609) 126425
Other comprehensive 年內其他全面收益：
income for the year:
Change in fair value of equity 指定按公平值計入其他
investments designated 全面收益的股權投資的
at fair value through other 公平值變動，扣除稅項comprehensive income
net of tax – – – – – 80682 – – – – 80682 – 80682
Share of other 分佔聯營公司的
comprehensive income 其他全面收益
of associates – – – – 1352 – – – – – 1352 – 1352
Exchange differences related 有關海外業務的
to foreign operations 外匯差額 – – – – – – – – (30088) – (30088) (25917) (56005)
Total comprehensive income 年內全面收益總額
for the year – – – – 1352 80682 – – (30088) 280034 331980 (179526) 152454
Issue of shares 發行股份 30 2939097 – (1248) – – – – – – – 2937849 – 2937849
Equity-settled share option 以權益結算的購股權
arrangements 安排 31 – – 696 – – – – – – – 696 157 853
Capital contribution from 非控股權益出資
non-controlling interests – – – – – – – – – – – 787920 787920
Transfer from retained profits 轉撥自一間子公司
generated by a subsidiary 產生的留存溢利 – – – – – – – 41917 – (41917) – – –
At 31 December 2023 於二零二三年
十二月三十一日4933559645494*12794*35685*1352*58435*99257*233042*(60233)*341610*630099517135498014544
# Revaluation surplus arose from a change in use from an owner- # 重估盈餘源於按公平值列賬之一項自用物業
occupied property to an investment property carried at fair value. 的用途更改為投資物業。
* These reserve accounts comprise the consolidated reserves of * 該等儲備賬合計為綜合財務狀況表中的綜US$1308569000 (2023: US$1367436000) in the consolidated 合儲備1308569000美元（二零二三年：statement of financial position. 1367436000美元）。308 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 309CONSOLIDATED STATEMENT OF CASH FLOWS
綜合現金流量表 Year ended 31 December 2024截至二零二四年十二月三十一日止年度
20242023
二零二四年二零二三年
Notes US$’000 US$’000附註千美元千美元
CASH FLOWS FROM OPERATING 經營活動所得現金流量
ACTIVITIES
(Loss)/profit before tax 稅前（虧損）╱溢利 (133792) 173579
Adjustments for: 就以下各項作出的調整：
Finance costs 財務費用 7 97113 100497
Share of profits of associates 分佔聯營公司溢利 (3459) (9230)
Interest income 利息收入 5 (101967) (61345)
Loss on disposal of items of property 出售物業、廠房及
plant and equipment 設備項目的虧損 5 192 206
Depreciation of property plant 物業、廠房及設備折舊
and equipment 13 533568 481664
Changes in fair value of an investment 投資物業公平值變動
property 14 39 (103)
Depreciation of right-of-use assets 使用權資產折舊 15 6303 6427
Amortisation of intangible assets 無形資產攤銷 16 15961 12348
Impairment of trade receivables 貿易應收款項減值 6 91 1120
Impairment of items of property plant 物業、廠房及
and equipment 設備項目減值 13 – 2476
Equity-settled share option expense 以權益結算的購股權開支 31 18 853
414067821763
Increase in properties under development 發展中物業增加 (39145) (44105)
Increase in inventories 存貨增加 (17311) (97712)
Decrease in trade and notes receivables 貿易應收款項及應收票據減少814812082
Decrease in prepayments other 預付款項、其他應收款項及
receivables and other assets 其他資產減少 7229 11851
(Increase)/decrease in amounts due 應收關聯方款項
from related parties （增加）╱減少 (7105) 1787
Decrease/(increase) in pledged deposits 已抵押存款減少╱（增加） 464 (168)
Increase/(decrease) in trade payables 貿易應付款項增加╱（減少） 62962 (1589)
Increase/(decrease) in other payables 其他應付款項及暫估費用
and accruals 增加╱（減少） 80895 (106503)
Increase/(decrease) in government grants 政府補助增加╱（減少） 11479 (5257)
(Decrease)/increase in amounts due 應付關聯方款項
to related parties （減少）╱增加 (4751) 7780
Cash generated from operations 經營活動產生的現金 516932 713200
Income tax paid 已付所得稅 (57437) (71505)
Net cash flows generated from 經營活動所得現金流量淨額
operating activities 459495 641695
continued 續╱…308 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 309
CONSOLIDATED STATEMENT OF CASH FLOWS
Year ended 31 December 2024截至二零二四年十二月三十一日止年度綜合現金流量表
20242023
二零二四年二零二三年
Notes US$’000 US$’000附註千美元千美元
CASH FLOWS FROM INVESTING 投資活動所得現金流量
ACTIVITIES
Interest received 已收利息 82034 61551
Purchases of items of property plant and 購買物業、廠房及設備
equipment prepaid lease payments 項目、預付租賃款項及
and intangible assets 無形資產 (2779857) (906607)
Purchases of financial assets at fair value 購買按公平值計入
through other comprehensive income 其他全面收益的金融資產 (17618) –
Proceeds from disposal of items of 出售物業、廠房及
property plant and equipment 設備項目所得款項 112 52
Receipt of government grants for property 收到政府對物業、廠房及
plant and equipment 設備的補助 41149 11692
Proceeds from disposal of financial assets 出售按公平值計入其他全面
at fair value through other 收益的金融資產所得款項
comprehensive income 2648 –
Net cash flows used in investing activities 投資活動所用現金流量淨額 (2671532) (833312)
CASH FLOWS FROM FINANCING 融資活動所得現金流量
ACTIVITIES
Proceeds from issue of shares 發行股份所得款項 3642 2941945
New bank loans 新增銀行貸款 289285 615415
Capital contribution from non-controlling 非控股權益出資
interests 1181880 787920
Dividends paid to shareholders 向股東支付股息 (36247) –
Interest paid 已付利息 (105736) (106570)
Repayment of bank loans 償還銀行貸款 (183524) (422120)
Principal portion of lease payments 支付租賃本金部份 (4634) (4597)
Receipt of government grants for 收到政府對財務費用的補助
finance costs 5459 2997
Payment of share issue expenses 支付股份發行開支 – (2030)
Placement of pledged time deposits 存放已抵押定期存款 – (31214)
Net cash flows generated from 融資活動所得現金流量淨額
financing activities 1150125 3781746
NET (DECREASE)/INCREASE IN CASH 現金及現金等價物
AND CASH EQUIVALENTS （減少）╱增加淨額 (1061912) 3590129
Cash and cash equivalents at beginning 年初現金及現金等價物
of year 5585181 2008765
Effect of foreign exchange rate changes 外匯匯率變動影響，淨額net (64137) (13713)
CASH AND CASH EQUIVALENTS AT 年末現金及現金等價物
END OF YEAR 23 4459132 5585181
ANALYSIS OF BALANCES OF CASH 現金及現金等價物結餘分析
AND CASH EQUIVALENTS
Cash and bank balances 現金及銀行結餘 23 2749279 4638292
Non-pledged time deposits with original 於獲得時原到期日少於
maturity of less than three months 三個月的非抵押定期存款
when acquired 1709853 946889
Cash and cash equivalents as stated in 財務狀況表及現金流量表中
the statement of financial position and 所列現金及現金等價物
in the statement of cash flows 23 4459132 5585181310 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 311
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
1. CORPORATE AND GROUP INFORMATION 1. 公司及集團資料
Hua Hong Semiconductor Limited (the “Company”) is a limited 華虹半導體有限公司（「本公司」）為一
liability company incorporated in Hong Kong on 21 January 家於二零零五年一月二十一日在香港註
2005. The registered office of the Company is located at Room 冊成立的有限公司。本公司的註冊辦事
2212 Bank of America Tower 12 Harcourt Road Central 處為香港中環夏愨道12號美國銀行中心
Hong Kong. The principal place of business is located at No. 2212室。主要營業地點為上海市張江高
288 Halei Road Zhangjiang Hi-Tech Park Shanghai. 科技園區哈雷路288號。
The principal activity of the Company is investment holding. 本公司的主要活動為投資控股。於年During the year the Company’s subsidiaries were principally 內，本公司的子公司主要從事半導體產engaged in the manufacture and sale of semiconductor 品的生產及銷售及房地產開發。
products and real estate development.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.Information about subsidiaries 有關子公司的資料
Particulars of the Company’s subsidiaries are as follows: 本公司的子公司詳情如下：
Place of Percentage of equity
incorporation/ Issued ordinary/ attributable to the Company
registration and registered share 本公司應佔權益百分比
Name business capital (’000) Direct Indirect Principal activities
註冊成立╱已發行普通╱
名稱登記地點及業務註冊股本（千元）直接間接主要業務活動
Grace Semiconductor Manufacturing Cayman Islands US$0.001 100% – Investment holding
Corporation (“Grace Cayman”) 開曼群島 0.001美元 投資控股
Grace Semiconductor Manufacturing
Corporation（「Grace Cayman」）
Shanghai Huahong Grace PRC/Mainland China RMB20460928 100% – Manufacture and sale of semiconductor
Semiconductor Manufacturing 中國╱中國內地 人民幣 products
Corporation (“HHGrace”)* 20460928元 生產及銷售半導體產品上海華虹宏力半導體製造有限公司（「華虹宏力」）*
Huahong Semiconductor (Wuxi) PRC/Mainland China US$2536852 22.2% 28.8% Manufacture and sale of semiconductor
Co. Ltd. (“Hua Hong Wuxi”)** 中國╱中國內地 2536852美元 products
華虹半導體（無錫）有限公司生產及銷售半導體產品（「華虹無錫」）**310 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 311
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
1. CORPORATE AND GROUP INFORMATION 1. 公司及集團資料（續）
(continued)
Information about subsidiaries (continued) 有關子公司的資料（續）
Place of Percentage of equity
incorporation/ Issued ordinary/ attributable to the Company
registration and registered share 本公司應佔權益百分比
Name business capital (’000) Direct Indirect Principal activities
註冊成立╱已發行普通╱
名稱登記地點及業務註冊股本（千元）直接間接主要業務活動
Shanghai Huahong Real Estate PRC/Mainland China RMB30000 22.2% 28.8% Real estate development
(Wuxi) Co. Ltd. 中國╱中國內地 人民幣30000元 房地產開發
(“Huahong Real Estate Wuxi”)***
上海華宏置業（無錫）有限公司（「華宏置業無錫」）***
Huahong Semiconductor Manufacturing PRC/Mainland China US$4020000 21.9% 29.1% Manufacture and sale of semiconductor(Wuxi) Co. Ltd. (“Hua Hong 中國╱中國內地 4020000美元 productsManufacturing Wuxi”)** 生產及銷售半導體產品
華虹半導體製造（無錫）有限公司（「華虹製造無錫」）**
Global Synergy Technology PRC/Hong Kong HK$10 100% – Trading
Limited (“GST”) 中國╱香港 10港元 貿易
力鴻科技有限公司（「力鴻科技」）
HHGrace Semiconductor USA Inc. USA – 100% – Sales office
HHGrace Semiconductor USA Inc. 美國 – 銷售辦事處
HHGrace Semiconductor Japan Japan JPY10000 100% – Sales office
Co. Ltd. 日本 10000日圓 銷售辦事處
HHGrace Semiconductor
Japan Co. Ltd.* HHGrace is registered as a wholly-foreign-owned company * 華虹宏力根據中國法律註冊為外商獨資
under PRC law. 公司。
** Hua Hong Wuxi and Hua Hong Manufacturing Wuxi are ** 華虹無錫及華虹製造無錫根據中國法律
registered as Sino-foreign joint companies under PRC law. 註冊為中外合資公司。
*** Huahong Real Estate Wuxi is registered as a domestic company *** 華宏置業無錫根據中國法律註冊為內資
under PRC law. 公司。312 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 313NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES 2. 會計政策
2.1 BASIS OF PREPARATION 2.1 編製基準
These f inancial statements have been prepared in 該等財務報表乃根據由香港會計師公會
accordance with Hong Kong Financial Reporting Standards （「香港會計師公會」）頒佈的香港財務報(“HKFRSs”) (which include all Hong Kong Financial Reporting 告準則（「香港財務報告準則」，包括所有Standards Hong Kong Accounting Standards (“HKASs”) 香港財務報告準則、香港會計準則（「香and Interpretations) issued by the Hong Kong Institute of 港會計準則」）及詮釋）以及香港公司條
Certified Public Accountants (“HKICPA”) and the Hong Kong 例編製。財務報表乃根據歷史成本慣例Companies Ordinance. They have been prepared under the 編製，惟已按公平值計量的投資物業及historical cost convention except for an investment property 指定按公平值計入其他全面收益的股權and equity investments designated at fair value through other 投資除外。該等財務報表以美元（「美comprehensive income which have been measured at fair 元」）呈列，而除另有指明外，所有數值value. These financial statements are presented in United 已約整至最接近的千位數。
States dollars (“US$”) and all values are rounded to the
nearest thousand except when otherwise indicated.Basis of consolidation 綜合基準The consolidated financial statements include the financial 綜合財務報表包括本公司及其子公司（統statements of the Company and its subsidiaries (collectively 稱為「本集團」）截至二零二四年十二月
referred to as the “Group”) for the year ended 31 December 三十一日止年度的財務報表。子公司指2024. A subsidiary is an entity (including a structured entity) 受本公司直接或間接控制的實體（包括結directly or indirectly controlled by the Company. Control 構性實體）。倘本集團透過參與被投資方is achieved when the Group is exposed or has rights to 業務而享有或有權取得被投資方的可變
variable returns from its involvement with the investee and has 回報，且有能力行使在被投資方的權力the ability to affect those returns through its power over the 影響有關回報，則本集團擁有該實體的investee (i.e. existing rights that give the Group the current 控制權（即現時賦予本集團指導被投資方ability to direct the relevant activities of the investee). 相關活動能力的現有權利）。
Generally there is a presumption that a majority of voting 於一般情況下均存在多數投票權形成控
rights results in control. When the Company has less than a 制權之推定。倘本公司擁有的被投資方majority of the voting or similar rights of an investee the Group 投票權或類似權利不及大半，則評估本considers all relevant facts and circumstances in assessing 公司對被投資方是否擁有權力時，本集whether it has power over an investee including: 團會考慮所有相關事實及情況，包括：
(a) the contractual arrangement with the other vote holders of (a) 與該被投資方其他投票權擁有人的
the investee; 合約安排；
(b) rights arising from other contractual arrangements; and (b) 根據其他合約安排所享有的權利；
及
(c) the Group’s voting rights and potential voting rights. (c) 本集團的投票權及潛在投票權。
The financial statements of the subsidiaries are prepared 子公司與本公司的財務報表的報告期間
for the same reporting period as the Company using 相同，並採用一致會計政策編製。子公consistent accounting policies. The results of subsidiaries 司的業績由本集團取得控制權之日起計
are consolidated from the date on which the Group obtains 綜合入賬，並繼續綜合入賬至該等控制control and continue to be consolidated until the date that 權終止時為止。
such control ceases.312 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 313
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.1 BASIS OF PREPARATION (continued) 2.1 編製基準（續）
Basis of consolidation (continued) 綜合基準（續）
Profit or loss and each component of other comprehensive 損益及其他全面收益的各部份乃歸屬於
income are attributed to the owners of the parent of the 本集團母公司擁有人及非控股權益，即Group and to the non-controlling interests even if this results 使導致非控股權益產生虧絀結餘。本集in the non-controlling interests having a deficit balance. All 團成員公司之間交易所產生的集團內部
intra-group assets and liabilities equity income expenses and 資產及負債、權益、收入、支出及現金
cash flows relating to transactions between members of the 流量均在綜合入賬時全數對銷。
Group are eliminated in full on consolidation.The Group reassesses whether or not it controls an investee 倘事實及情況顯示上述三項控制因素之
if facts and circumstances indicate that there are changes to 一項或多項出現變動，本集團會重新評one or more of the three elements of control described above. 估其是否控制被投資方。子公司的所有A change in the ownership interest of a subsidiary without a 權權益變動（沒有失去控制權），按權益loss of control is accounted for as an equity transaction. 交易入賬。
If the Group loses control over a subsidiary it derecognises 倘本集團失去對一間子公司的控制權，the related assets (including goodwill) liabilities any 則其取消確認相關資產（包括商譽）、負
non-controlling interest and the exchange fluctuation reserve; 債、任何非控制權益及外匯波動儲備；
and recognises the fair value of any investment retained 並確認所保留任何投資的公平值及損益
and any resulting surplus or deficit in profit or loss. The 中任何因此產生的盈餘或虧損。先前於Group’s share of components previously recognised in other 其他全面收益內確認的本集團應佔部份
comprehensive income is reclassified to profit or loss or 重新分類為損益或留存溢利（如適用），retained profits as appropriate on the same basis as would 倘本集團已直接出售相關資產或負債則
be required if the Group had directly disposed of the related 須以同一基準確認。
assets or liabilities.
2.2 CHANGES IN ACCOUNTING POLICIES AND 2.2 會計政策的變動及披露
DISCLOSURES
The Group has adopted the following revised HKFRSs for the 本集團已採納並在本年度財務報表首次
first time for the current year’s financial statements. 應用以下經修訂香港財務報告準則。
Amendments to Lease Liability in a Sale and 香港財務報告準則第16號 售後回租之
HKFRS 16 Leaseback （修訂本） 租賃負債
Amendments to Classification of Liabilities as 香港會計準則第1號 負債分類為
HKAS 1 Current or Non-current （修訂本） 流動或非流動
Amendments to Non-current Liabilities with Covenants 香港會計準則第1號 具契諾之非流動
HKAS 1 （修訂本） 負債
The application of the revised HKFRSs in the current year 本年度經修訂的香港財務報告準則的應
had no material impact on the Group’s consolidated financial 用，對本集團本年度及以往年度的綜合position and performance for the current and prior years. 財務狀況及業績並無重大影響。314 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 315NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.3 ISSUED BUT NOT YET EFFECTIVE 2.3 已頒佈但尚未生效之香港財務
HONG KONG FINANCIAL REPORTING 報告準則
STANDARDS
The Group has not applied the following revised HKFRSs that 本集團並無於該等財務報表內應用下列
have been issued but are not yet effective in these financial 已頒佈但尚未生效之經修訂香港財務報
statements. The Group intends to apply these revised HKFRSs 告準則。本集團擬於該等經修訂香港財if applicable when they become effective. 務報告準則生效後應用該等經修訂香港
財務報告準則（如適用）。
HKFRS 18 Presentation and Disclosure in 香港財務報告準則 財務報表的呈列與
Financial Statements3 第18號 披露3
HKFRS 19 Subsidiaries without Public 香港財務報告準則 非公共受託責任子
Accountability: Disclosures3 第19號 公司的披露3
Amendments to Amendments to the Classification 香港財務報告準則 金融工具分類及計
HKFRS 9 and Measurement of Financial 第9號及 量之修訂2
and HKFRS 7 Instruments2 香港財務報告準則
第7號（修訂本）
Amendments to Sale or Contribution of Assets 香港財務報告準則 投資者與其聯營公
HKFRS 10 and between an Investor and its 第10號及香港會計準 司或合營企業之
HKAS 28 Associate or Joint Venture4 則第28號（修訂本） 間的資產出售或注資4
Amendments to Lack of Exchangeability1 香港會計準則第21號 缺乏可兌換性1
HKAS 21 （修訂本）
1 Effective for annual periods beginning on or after 1 January 2025 1 於二零二五年一月一日或之後開始之年
度期間生效
2 Effective for annual periods beginning on or after 1 January 2026 2 於二零二六年一月一日或之後開始之年
度期間生效
3 Effective for annual/reporting periods beginning on or after 1 3 於二零二七年一月一日或之後開始之年
January 2027 度╱報告期間生效
4 No mandatory effective date yet determined but available for 4 尚未釐定強制生效日期但可供採納
adoption314 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 315
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.3 ISSUED BUT NOT YET EFFECTIVE 2.3 已頒佈但尚未生效之香港財務
HONG KONG FINANCIAL REPORTING 報告準則（續）
STANDARDS (continued)
HKFRS 18 replaces HKAS 1 Presentation of Financial 香港財務報告準則第18號取代香港會計
Statements. While a number of sections have been brought 準則第1號財務報表的呈列。儘管香港會forward from HKAS 1 with limited changes HKFRS 18 計準則第1號的多個章節已被納入而變動
introduces new requirements for presentation within the 有限，香港財務報告準則第18號就損益statement of profit or loss including specified totals and 表內呈列方式引入新規定，包括指定的subtotals. Entities are required to classify all income and 總計及小計。實體須將損益表內所有收expenses within the statement of profit or loss into one 入及開支分類為以下五個類別之一：經
of the five categories: operating investing financing 營、投資、融資、所得稅及終止持續經
income taxes and discontinued operations and to present 營業務，並呈列兩項新界定小計。其亦two new defined subtotals. It also requires disclosures 規定於單一附註中披露管理層界定的績
about management-defined performance measures in a 效指標，並對主要財務報表及附註中資single note and introduces enhanced requirements on the 料的組合（合併及分類）和位置提出更嚴
grouping (aggregation and disaggregation) and the location 格的要求。若干早前已納入香港會計準of information in both the primary financial statements and 則第1號的規定移至香港會計準則第8號
the notes. Some requirements previously included in HKAS 會計政策、會計估計變更及差錯，並更
1 are moved to HKAS 8 Accounting Policies Changes in 名為香港會計準則第8號財務報表的呈列
Accounting Estimates and Errors which is renamed as 基準。由於頒佈香港財務報告準則第18HKAS 8 Basis of Preparation of Financial Statements. As a 號，對香港會計準則第7號現金流量表、consequence of the issuance of HKFRS 18 limited but widely 香港會計準則第33號每股盈利及香港會
applicable amendments are made to HKAS 7 Statement 計準則第34號中期財務報告作出有限但
of Cash Flows HKAS 33 Earnings per Share and HKAS 廣泛適用的修訂。此外，其他香港財務
34 Interim Financial Reporting. In addition there are minor 報告準則亦有輕微的相應修訂。香港財
consequential amendments to other HKFRSs. HKFRS 18 務報告準則第18號及其他香港財務報告
and the consequential amendments to other HKFRSs are 準則的相應修訂於二零二七年一月一日
effective for annual periods beginning on or after 1 January 或之後開始的年度期間生效，須追溯應
2027 with earlier application permitted. Retrospective 用，並可提早應用。本集團現正分析新
application is required. The Group is currently analysing the 訂規定並評估香港財務報告準則第18號
new requirements and assessing the impact of HKFRS 18 對本集團財務報表的呈列及披露的影響。
on the presentation and disclosure of the Group’s financial
statements.Save as disclosed above none of these HKFRSs is expected 除上文所披露者外，該等香港財務報告to have a significant impact on the Group’s results of 準則均預期不會對本集團的經營業績及
operations and financial position. 財務狀況產生重大影響。316 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 317NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策
Investments in associates 於聯營公司的投資
An associate is an entity in which the Group has a long term 聯營公司為一間本集團對其擁有一般不
interest of generally not less than 20% of the equity voting 少於20%股本投票權的長期權益，且本rights and over which it is has significant influence. Significant 集團對其有重大影響力的實體。重大影influence is the power to participate in the financial and 響力指有權力參與投資對象的財務及經
operating policy decisions of the investee but is not control or 營政策決策，但並非對該等政策擁有控joint control over those policies. 制或聯合控制權。
The Group’s investments in associates are stated in the 本集團於聯營公司的投資於綜合財務狀
consolidated statement of financial position at the Group’s 況表內按使用權益會計法計算的本集團
share of net assets under the equity method of accounting 應佔淨資產扣減任何減值虧損列賬。
less any impairment losses.Adjustments are made to bring into line any dissimilar 為使任何可能存在之不同會計政策貫徹
accounting policies that may exist. 一致而作出調整。
The Group’s share of the post-acquisition results and other 本集團應佔其聯營公司的收購後業績及
comprehensive income of an associate is included in the 其他全面收益分別列入綜合損益表及綜
consolidated statement of profit or loss and consolidated other 合其他全面收益表。此外，倘聯營公司comprehensive income respectively. In addition when there 的權益內直接確認某一變動，則本集團has been a change recognised directly in the equity of the 會於綜合權益變動表內確認其於任何變
associate the Group recognises its share of any changes 動（如適用）的應佔部份。本集團及其聯when applicable in the consolidated statement of changes in 營公司進行交易所產生的未變現收益及
equity. Unrealised gains and losses resulting from transactions 虧損按本集團於該聯營公司的投資進行
between the Group and its associate are eliminated to the 撇銷，惟未變現虧損有證據顯示所轉讓extent of the Group’s investment in the associate except 資產出現減值者除外。收購聯營公司產where unrealised losses provide evidence of an impairment of 生的商譽計入本集團於該聯營公司投資
the assets transferred. Goodwill arising from the acquisition of 的一部分。
an associate is included as part of the Group’s investment in
an associate.If an investment in an associate becomes an investment in a 倘於一家聯營公司的投資變成於合營企
joint venture the retained interest is not remeasured. Instead 業的投資，保留權益不會重新計量。相the investment continues to be accounted for under the equity 反，該投資將繼續按權益法列賬。於所method. In all other cases upon loss of significant influence 有其他情形下，倘本集團不再對聯營公over the associate the Group measures and recognises any 司擁有重大影響力，本集團將按其公平retained investment at its fair value. Any difference between 值計量及確認任何保留投資。於失去重the carrying amount of the associate upon loss of significant 大影響力或共同控制權後聯營公司的賬
influence or joint control and the fair value of the retained 面值與保留投資的公平值及出售所得款
investment and proceeds from disposal is recognised in profit 項之間的任何差額於損益內確認。
or loss.When an investment in an associate is classified as held 倘於一家聯營公司的投資被分類為持作
for sale it is accounted for in accordance with HKFRS 5 出售，則根據香港財務報告準則第5號持Non-current Assets Held for Sale and Discontinued Operations. 作出售非流動資產及終止持續經營業務列賬。316 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 317NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Fair value measurement 公平值計量
The Group measures its investment properties and 本集團於各報告期末按公平值計量投資
equity investments designated at fair value through other 物業及指定按公平值計入其他全面收益
comprehensive income at the end of each reporting period. 的股權投資。公平值指於計量日市場參Fair value is the price that would be received to sell an asset 與者之間的有序交易中，就出售資產所or paid to transfer a liability in an orderly transaction between 收取的價格或轉讓負債所支付的價格。
market participants at the measurement date. The fair value 公平值計量乃基於假設出售資產或轉讓
measurement is based on the presumption that the transaction 負債的交易於資產或負債的主要市場或
to sell the asset or transfer the liability takes place either in （在未有主要市場的情況下）資產或負債
the principal market for the asset or liability or in the absence 的最有利市場進行。主要或最有利市場of a principal market in the most advantageous market for 須為本集團能參與的市場。假設市場參the asset or liability. The principal or the most advantageous 與者基於彼等最佳經濟利益行事，資產market must be accessible by the Group. The fair value of 或負債的公平值使用市場參與者為資產
an asset or a liability is measured using the assumptions 或負債定價所用假設計量。
that market participants would use when pricing the asset
or liability assuming that market participants act in their
economic best interest.A fair value measurement of a non-financial asset takes into 非金融資產的公平值計量會計及市場參
account a market participant’s ability to generate economic 與者將資產用於最高增值及最佳用途或
benefits by using the asset in its highest and best use or by 售予會將資產用於最高增值及最佳用途
selling it to another market participant that would use the asset 的另一名市場參與者而創造經濟利益的
in its highest and best use. 能力。
The Group uses valuation techniques that are appropriate in 本集團針對不同情況使用不同估值技
the circumstances and for which sufficient data are available to 術，確保有足夠數據計量公平值，並盡measure fair value maximising the use of relevant observable 量利用相關可觀察輸入數據，減少使用inputs and minimising the use of unobservable inputs. 不可觀察輸入數據。318 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 319NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Fair value measurement (continued) 公平值計量（續）
All assets and liabilities for which fair value is measured or 公平值於財務報表計量或披露的所有資
disclosed in the financial statements are categorised within the 產及負債，均基於對公平值計量整體而fair value hierarchy described as follows based on the lowest 言屬重大的最低層級輸入數據按下述公
level input that is significant to the fair value measurement as a 平值層級分類：
whole:
Level 1 － based on quoted prices (unadjusted) in active 第1級 － 基於相同資產或負債於活躍
markets for identical assets or liabilities 市場的市場報價（未經調整）
Level 2 － based on valuation techniques for which the 第2級 － 基於對公平值計量而言屬重
lowest level input that is significant to the fair value 大的直接或間接可觀察最低
measurement is observable either directly or 層級輸入數據的估值技術
indirectly 第3級 － 基於對公平值計量而言屬重
Level 3 － based on valuation techniques for which the 大的不可觀察最低層級輸入
lowest level input that is significant to the fair value 數據的估值技術
measurement is unobservable
For assets and liabilities that are recognised in the financial 對於按經常性基準於財務報表確認的資
statements on a recurring basis the Group determines whether 產及負債，本集團於各報告期末重新評transfers have occurred between levels in the hierarchy by 估分類（基於對公平值計量整體而言屬重reassessing categorisation (based on the lowest level input 大的最低層級輸入數據），確定有否在不that is significant to the fair value measurement as a whole) at 同層級之間轉移。
the end of each reporting period.Impairment of non-financial assets 非金融資產減值Where an indication of impairment exists or when annual 倘一項非金融資產（存貨、合約資產、遞impairment testing for an asset is required (other than 延稅項資產、投資物業及非流動資產╱inventories contract assets deferred tax assets investment 分類為持作出售的出售組別除外）存在減
properties and non-current assets/a disposal group classified 值跡象，或需要進行年度減值測試，則as held for sale) the asset’s recoverable amount is estimated. 會估計資產的可收回金額。資產可收回An asset’s recoverable amount is the higher of the asset’s or 金額按該資產或現金產生單位的使用價
cash-generating unit’s value in use and its fair value less costs 值及其公平值減出售成本兩者中的較高
of disposal and is determined for an individual asset unless 金額計算，並按個別資產釐定，除非該the asset does not generate cash inflows that are largely 資產所產生的現金流入基本上不能獨立
independent of those from other assets or groups of assets 於其他資產或資產組別所產生的現金流
in which case the recoverable amount is determined for the 入，在此情況下，可收回金額將按該資cash-generating unit to which the asset belongs. In testing a 產所屬現金產生單位釐定。於進行現金cash-generating unit for impairment a portion of the carrying 產生單位減值測試時，倘可按合理且一amount of a corporate asset (e.g. a headquarters building) 致基準分配，或如否，則分配至最小現is allocated to an individual cash-generating unit if it can be 金產生單位組別，企業資產（如，總部大allocated on a reasonable and consistent basis or otherwise 樓）賬面值的一部份分配至個別現金產生
to the smallest group of cash-generating units. 單位。318 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 319NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Impairment of non-financial assets (continued) 非金融資產減值（續）
An impairment loss is recognised only if the carrying amount 減值虧損僅於資產賬面值超逾其可收回
of an asset exceeds its recoverable amount. In assessing 金額時確認。於評估使用價值時，估計value in use the estimated future cash flows are discounted to 未來現金流量乃按稅前貼現率貼現至其
their present value using a pre-tax discount rate that reflects 現值。稅前貼現率反映當時市場對貨幣current market assessments of the time value of money and 時間值的評估及該資產的特有風險。減the risks specific to the asset. An impairment loss is charged 值虧損於其產生期間的損益表內在與減
to the statement of profit or loss in the period in which it arises 值資產的功能一致的相關開支類別中扣
in those expense categories consistent with the function of the 除。
impaired asset.An assessment is made at the end of each reporting 於各報告期末，會評估是否有跡象顯示period as to whether there is an indication that previously 先前確認的減值虧損可能不再存在或可
recognised impairment losses may no longer exist or may 能已減少。倘有該等跡象存在，便會估have decreased. If such an indication exists the recoverable 計可收回金額。先前就資產（商譽除外）amount is estimated. A previously recognised impairment 確認的減值虧損，僅於用以釐定該資產loss of an asset other than goodwill is reversed only if there 的可收回金額的估計有變時予以撥回，has been a change in the estimates used to determine the 但撥回金額不得高於倘過往年度並無就
recoverable amount of that asset but not to an amount higher 該資產確認減值虧損情況下原應釐定的
than the carrying amount that would have been determined 賬面值（扣除任何折舊╱攤銷）。撥回的(net of any depreciation/amortisation) had no impairment loss 減值虧損於其產生期間計入損益表。
been recognised for the asset in prior years. A reversal of such
an impairment loss is credited to the statement of profit or loss
in the period in which it arises.Related parties 關聯方
A party is considered to be related to the Group if: 以下人士將被視為與本集團有關聯：
(a) the party is a person or a close member of that person’s (a) 倘為以下人士或其近親：
family and that person:
(i) has control or joint control over the Group; (i) 控制或共同控制本集團；
(ii) has significant influence over the Group; or (ii) 對本集團有重大影響力；或
(iii) is a member of the key management personnel of (iii) 為本集團或本集團母公司的主
the Group or of a parent of the Group; or 要管理層成員；或320 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 321
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Related parties (continued) 關聯方（續）
A party is considered to be related to the Group if: (continued) 以下人士將被視為與本集團有關聯：
（續）
(b) the party is an entity where any of the following conditions (b) 該人士為符合下列任何條件的實
applies: 體：
(i) the entity and the Group are members of the same (i) 該實體與本集團屬同一集團的
group; 成員公司；
(ii) one entity is an associate or joint venture of the other (ii) 實體為另一實體（或另一實體entity (or of a parent subsidiary or fellow subsidiary 的母公司、子公司或同系子公of the other entity); 司）的聯營公司或合營企業；
(iii) the entity and the Group are joint ventures of the (iii) 該實體與本集團為同一第三方
same third party; 的合營企業；
(iv) one entity is a joint venture of a third entity and the (iv) 實體為一名第三方實體的合營
other entity is an associate of the third entity; 企業，而另一實體為該第三方實體的聯營公司；
(v) the entity is a post-employment benefit plan for the (v) 該實體為本集團或與本集團有
benefit of employees of either the Group or an entity 關聯的實體就僱員利益設立的
related to the Group; 離職後福利計劃；
(vi) the entity is controlled or jointly controlled by a (vi) 該實體由 (a)項所列人士控制
person identified in (a); 或共同控制；
(vii) a person identif ied in (a)(i) has signif icant (vii) (a)(i)項所列人士對該實體具有influence over the entity or is a member of the key 重大影響力或為該實體（或該management personnel of the entity (or of a parent 實體的母公司）的主要管理層
of the entity); and 成員；及
(viii) the entity or any member of a group of which it is a (viii) 該實體或該實體所屬集團的任
part provides key management personnel services 何成員公司為本集團或本集團
to the Group or to the parent of the Group. 的母公司提供主要管理人員服務。320 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 321NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Property plant and equipment and depreciation 物業、廠房及設備以及折舊
Property plant and equipment other than construction in 物業、廠房及設備（在建工程除外）乃按
progress are stated at cost less accumulated depreciation 成本減累計折舊及任何減值虧損列賬。
and any impairment losses. When an item of property plant 倘物業、廠房及設備項目被分類為持作
and equipment is classified as held for sale or when it is 出售或倘其為分類為持作出售的出售組
part of a disposal group classified as held for sale it is not 別的一部份，則不會對此進行折舊，而depreciated and is accounted for in accordance with HKFRS 根據香港財務報告準則第5號列賬。物
5. The cost of an item of property plant and equipment 業、廠房及設備項目的成本包括其購買
comprises its purchase price and any directly attributable 價及任何使資產達致操作狀況及地點作
costs of bringing the asset to its working condition and location 擬定用途的直接應佔成本。
for its intended use.Expenditure incurred after items of property plant and 物業、廠房及設備項目投入運作後所產
equipment have been put into operation such as repairs and 生維修保養等支出，一般於其產生期間maintenance is normally charged to the statement of profit or 自損益表內扣除。倘達到確認標準，重loss in the period in which it is incurred. In situations where the 大檢修的開支於該資產的賬面值中資本
recognition criteria are satisfied the expenditure for a major 化為重置資產。倘物業、廠房及設備須inspection is capitalised in the carrying amount of the asset as 定期替換其重大部份，則本集團將該等a replacement. Where significant parts of property plant and 部份確認為具有特定可使用年期的獨立
equipment are required to be replaced at intervals the Group 資產，並相應對此進行折舊。
recognises such parts as individual assets with specific useful
lives and depreciates them accordingly.Depreciation is calculated on the straight-line basis to write 折舊的計算是按直線法，在其估計可使off the cost of each item of property plant and equipment to 用年期內將物業、廠房及設備各項目的
its residual value over its estimated useful life. The principal 成本撇銷至剩餘價值。就此所用的主要annual rates used for this purpose are as follows: 年率如下：
Buildings 3.8% 樓宇 3.8%
Plant and machinery 9.5% to 19.0% 廠房及機器 9.5%至19.0%
Office equipment 19.0% 辦公設備 19.0%
Motor vehicles 19.0% 汽車 19.0%
Leasehold improvements 20.0% 租賃物業裝修 20.0%
Where parts of an item of property plant and equipment 倘物業、廠房及設備項目的部份的可使
have different useful lives the cost of that item is allocated 用年期不同，該項目的成本會按合理基on a reasonable basis among the parts and each part is 準分配至有關部份，而各部份均分開計depreciated separately. Residual values useful lives and the 提折舊。剩餘價值、可使用年期及折舊depreciation method are reviewed and adjusted if appropriate 方法至少於各財政年度末檢討及按需要
at least at each financial year end. 作出調整。322 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 323NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Property plant and equipment and depreciation (continued) 物業、廠房及設備以及折舊（續）An item of property plant and equipment including any 物業、廠房及設備項目（包括任何初始確significant part initially recognised is derecognised upon 認的重大部份）於出售或預期使用或出售
disposal or when no future economic benefits are expected 有關項目不會產生未來經濟利益時終止
from its use or disposal. Any gain or loss arising on disposal 確認。於終止確認資產年度在損益表內or retirement recognised in the statement of profit or loss in the 確認的出售或報廢資產的任何收益或虧
year the asset is derecognised is the difference between the 損，為出售有關資產所得款項淨額與其net sales proceeds and the carrying amount of the relevant 賬面值兩者間的差額。
asset.Construction in progress is stated at cost less any impairment 在建工程乃按成本減任何減值虧損列
losses and is not depreciated. It is reclassified to the 賬，但不會計提折舊。其於完工且可供appropriate category of property plant and equipment when 使用時將重新分類至物業、廠房及設備
completed and ready for use. 的適當類別。
Investment properties 投資物業
Investment properties are interests in land and buildings 投資物業是指為賺取租金收入及╱或資(including right-of-use assets) held to earn rental income and/ 本增值而持有的土地及樓宇權益（包括使or for capital appreciation. Such properties are measured 用權資產）。該等物業初步以成本（包括initially at cost including transaction costs. Subsequent to 交易費用）計量。於初始確認後，投資物initial recognition investment properties are stated at fair value 業以反映報告期末市況的公平值列賬。
which reflects market conditions at the end of the reporting
period.Gains or losses arising from changes in the fair value of the 投資物業公平值變動產生的收益或虧損
investment property are included in the statement of profit or 計入其產生年度的損益表內。
loss in the year in which they arise.Any gains or losses on the retirement or disposal of an 因投資物業報廢或出售而產生的任何收
investment property are recognised in the statement of profit 益或虧損於報廢或出售年度的損益表內
or loss in the year of the retirement or disposal. 確認。
For a transfer from investment properties to owner-occupied 由投資物業轉為自用物業或存貨時，該物業properties or inventories the deemed cost of a property for 其後會計之認定成本為改變用途當日的公允
subsequent accounting is its fair value at the date of change 價值。如本集團之自用物業轉為投資物業，in use. If a property occupied by the Group as an owner- 本集團直至改變用途當日前會根據「物業、廠
occupied property becomes an investment property the
房及設備和折舊」所述之政策就自用物業將該
Group accounts for such property in accordance with thepolicy stated under “Property plant and equipment and 物業入賬及╱或根據「使用權資產」所述政策depreciation” for owned property and/or accounts for such 就直至改變用途當日持作使用權資產之物業property in accordance with the policy stated under “Right- 將該物業入賬，而物業於當日的賬面值與公of-use assets” for property held as a right-of-use asset up to 允價值之任何差額則根據香港會計準則第16
the date of change in use and any difference at that date 號物業、廠房及設備列作重估。由存貨轉為between the carrying amount and the fair value of the property 投資物業時，該物業於當日的公允價值與先is accounted for as a revaluation in accordance with HKAS 16 前的賬面值之任何差額於損益表中確認。
Property Plant and Equipment. For a transfer from inventories
to investment properties any difference between the fair value
of the property at that date and its previous carrying amount is
recognised in the statement of profit or loss.322 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 323
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Intangible assets (other than goodwill) 無形資產（商譽除外）
Intangible assets acquired separately are measured on initial 無形資產（商譽除外）單獨取得的無形資
recognition at cost. The cost of intangible assets acquired 產於初始確認時按成本計量。通過業務in a business combination is the fair value as at the date of 合併取得的無形資產的成本為於收購日
acquisition. The useful lives of intangible assets are assessed 期的公平值。無形資產的可使用年期評to be either finite or indefinite. Intangible assets with finite lives 定為有限期或無限期。有限期的無形資are subsequently amortised over the useful economic life and 產隨後按可使用經濟年期攤銷，並於有assessed for impairment whenever there is an indication that 跡象顯示無形資產可能出現減值時評估
the intangible asset may be impaired. The amortisation period 減值。有限可使用年期的無形資產的攤and the amortisation method for an intangible asset with a 銷期及攤銷方法至少於各財政年度末檢
finite useful life are reviewed at least at each financial year 討。
end.Process technology licence and software 工藝技術許可及軟件
Process technology licence and software are stated at 工藝技術許可及軟件按成本減任何減值
cost less any impairment losses and are amortised on the 虧損列賬，並自相關產品投入商業生產straight-line basis over their estimated useful lives of 5 to 10 日期起計在其5至10年估計可使用年限
years of the underlying products commencing from the date 內以直線法攤銷。
when the products are put into commercial production.Research and development costs 研發成本
All research costs are charged to the statement of profit or loss 所有研究成本於產生時列支於損益表。
as incurred.Expenditure incurred on projects to develop new products 研發新產品項目所產生的開支僅在本集
is capitalised and deferred only when the Group can 團能夠顯示其在技術上能夠完成無形資
demonstrate the technical feasibility of completing the 產以供使用或出售、打算完成資產並能
intangible asset so that it will be available for use or sale its 夠加以使用或將之出售、資產在未來如
intention to complete and its ability to use or sell the asset 何帶來經濟利益、有足夠資源以完成項
how the asset will generate future economic benefits the 目並且有能力可靠地計量開發期間的開
availability of resources to complete the project and the ability 支的情況下，才會被資本化及遞延。未to measure reliably the expenditure during the development. 能符合以上標準的產品研發開支會在產
Product development expenditure which does not meet these 生時列作開支。
criteria is expensed when incurred.324 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 325
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Leases 租賃
The Group assesses at contract inception whether a contract 本集團於合約開始時評估合約是否為或
is or contains a lease. A contract is or contains a lease if the 包含租賃。倘合約為換取代價而授予在contract conveys the right to control the use of an identified 一段時間內控制已識別資產使用的權
asset for a period of time in exchange for consideration. 利，則合約為或包含租賃。
Group as a lessee 本集團作為承租人The Group applies a single recognition and measurement 本集團對所有租賃（惟短期租賃及低價值approach for all leases except for short-term leases and 資產租賃除外）採取單一確認及計量方leases of low-value assets. The Group recognises lease 法。本集團確認租賃負債（以作出租賃付liabilities to make lease payments and right-of-use assets 款）及使用權資產（即使用相關資產的權representing the right to use the underlying assets. 利）。
(a) Right-of-use assets (a) 使用權資產Right-of-use assets are recognised at the commencement 於租賃開始日期（即相關資產可供date of the lease (that is the date the underlying asset is 使用的日期）確認使用權資產。使available for use). Right-of-use assets are measured at 用權資產按成本減累計折舊及任何
cost less accumulated depreciation and any impairment 減值虧損計量，並就任何重新計量losses and adjusted for any remeasurement of lease 租賃負債作出調整。使用權資產成liabilities. The cost of right-of-use assets includes the 本包括已確認租賃負債款額、已產
amount of lease liabilities recognised initial direct costs 生初始直接成本及於開始日期或之
incurred and lease payments made at or before the 前作出的租賃付款減任何已收取租
commencement date less any lease incentives received. 賃優惠。使用權資產於其租期及估Right-of-use assets are depreciated on a straight-line 計可使用年期的較短者內按直線法
basis over the shorter of the lease terms and the 折舊如下：
estimated useful lives of the assets as follows:
Land use rights 42 to 50 years 土地使用權 42至50年Buildings 2 to 20 years 樓宇 2至20年If ownership of the leased asset transfers to the Group at 倘租賃資產的所有權於租賃期末轉
the end of the lease term or the cost reflects the exercise 移至本集團或成本反映購買選擇權
of a purchase option depreciation is calculated using the 獲行使，則使用資產的估計可使用estimated useful life of the asset. 年期計算折舊。324 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 325NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Leases (continued) 租賃（續）
Group as a lessee (continued) 本集團作為承租人（續）
(b) Lease liabilities (b) 租賃負債
Lease liabilities are recognised at the commencement 於租賃開始日期，租賃負債按租賃date of the lease at the present value of lease payments 期內作出的租賃付款的現值予以確to be made over the lease term. The lease payments 認。租賃付款包括固定付款（包括include fixed payments (including in-substance fixed 實質固定付款）減任何應收租賃優
payments) less any lease incentives receivable variable 惠、取決於某一指數或比率的可變
lease payments that depend on an index or a rate 租賃付款，以及預期在剩餘價值擔and amounts expected to be paid under residual value 保下支付的金額。租賃付款亦包括guarantees. The lease payments also include the exercise 合理確定將由本集團行使的購買選
price of a purchase option reasonably certain to be 擇權的行使價，及倘若租賃期限反exercised by the Group and payments of penalties for 映本集團行使終止租賃選擇權，則termination of a lease if the lease term reflects the Group 終止租賃而需支付的罰款。不取決exercising the option to terminate the lease. The variable 於某一指數或比率的可變租賃付款
lease payments that do not depend on an index or a rate 於觸發付款的事件或條件發生的期
are recognised as an expense in the period in which the 間確認為開支。
event or condition that triggers the payment occurs.In calculating the present value of lease payments 在計算租賃付款的現值時，由於租the Group uses its incremental borrowing rate at the 賃中所隱含的利率不易確定，則本lease commencement date because the interest rate 集團在租賃開始日期使用增量借
implicit in the lease is not readily determinable. After the 貸利率。在開始日期之後，租賃commencement date the amount of lease liabilities is 負債的金額將會增加，以反映利息increased to reflect the accretion of interest and reduced 的增加及就已作出的租賃付款作出
for the lease payments made. In addition the carrying 扣減。此外，如有修改、租期發生amount of lease liabilities is remeasured if there is a 變化、租賃付款變化（如未來租賃modification a change in the lease term a change in 付款因指數或比率變動而出現變lease payments (e.g. a change to future lease payments 動）或購買相關資產的選擇權評估
resulting from a change in an index or rate) or a change 變更，租賃負債的賬面值將重新計in assessment of an option to purchase the underlying 量。
asset.(c) Short-term leases and leases of low-value assets (c) 短期租賃及低價值資產租賃
The Group applies the short-term lease recognition 本集團將短期租賃確認豁免應用於exemption to its short-term leases (i.e. those leases 其短期租賃（即自租賃開始日期起that have a lease term of 12 months or less from the 計租期為十二個月或以下，並且不commencement date and do not contain a purchase 包含購買選擇權的租賃）。低價值option). It also applies the recognition exemption for lease 資產租賃的確認豁免亦應用於被認
of low-value assets to leases of office equipment that is 為低價值的辦公室設備租賃。
considered to be of low value.Lease payments on short-term leases and leases of 短期租賃及低價值資產租賃的租賃
low-value assets are recognised as an expense on a 付款在租期內按直線法確認為支
straight-line basis over the lease term. 出。326 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 327NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Leases (continued) 租賃（續）
Group as a lessor 本集團作為出租人When the Group acts as a lessor it classifies at lease inception 倘本集團為出租人，於租賃開始時（或發(or when there is a lease modification) each of its leases as 生租賃變更時）將其各個租賃分類為經營
either an operating lease or a finance lease. 租賃或融資租賃。
Leases in which the Group does not transfer substantially 本集團並未轉讓資產所有權所附帶的絕
all the risks and rewards incidental to ownership of an asset 大部份風險及回報的租賃歸類為經營租
are classified as operating leases. When a contract contains 賃。當合約包含租賃及非租賃組成部分lease and non-lease components the Group allocates the 時，本集團以相對獨立的銷售價格為consideration in the contract to each component on a relative 基準將合約中的代價分配予各個組成部
stand-alone selling price basis. Rental income is accounted for 分。租金收入於租期內按直線法列賬，on a straight-line basis over the lease terms and is included in 且因其經營性質計入損益表之其他收入
other income and gains in the statement of profit or loss due to 及收益。於磋商及安排經營租賃時產生its operating nature. Initial direct costs incurred in negotiating 的初始直接成本乃計入租賃資產的賬面
and arranging an operating lease are added to the carrying 值，並於租期內按相同方法確認為租金amount of the leased asset and recognised over the lease 收入。或然租金乃於所賺取的期間內確term on the same basis as rental income. Contingent rents are 認為其他收入及收益。
recognised as other income and gains in the period in which
they are earned.Leases that transfer substantially all the risks and rewards 將相關資產所有權所附帶的絕大部份風
incidental to ownership of an underlying asset to the lessee 險及回報轉讓至承租人的租賃，則作為are accounted for as finance leases. 融資租賃入賬。
Investments and other financial assets 投資及其他金融資產
Initial recognition and measurement 初始確認及計量
Financial assets are classified at initial recognition as 金融資產於初始確認時分類為其後按攤
subsequently measured at amortised cost fair value through 銷成本、按公平值計入其他全面收益及
other comprehensive income and fair value through profit or loss. 按公平值計入損益計量。
The classification of financial assets at initial recognition 於初始確認時，金融資產分類取決於金depends on the financial asset’s contractual cash flow 融資產的合約現金流量特點及本集團管
characteristics and the Group’s business model for managing 理該等金融資產的業務模式。除並無重them. With the exception of trade receivables that do not 大融資成分或本集團已應用並未就重大
contain a significant financing component or for which the 融資成分的影響作出調整的可行權宜方
Group has applied the practical expedient of not adjusting 法的貿易應收款項外，本集團初步按公the effect of a significant financing component the Group 平值加上（倘金融資產並非按公平值計入initially measures a financial asset at its fair value plus in 損益）交易成本計量金融資產。並無重大the case of a financial asset not at fair value through profit or 融資成分或本集團已應用可行權宜方法
loss transaction costs. Trade receivables that do not contain 的貿易應收款項乃根據下文「銷售收入確
a significant financing component or for which the Group 認」所載政策按香港財務報告準則第15
has applied the practical expedient are measured at the 號釐定的交易價格計量。
transaction price determined under HKFRS 15 in accordance
with the policies set out for “Revenue recognition” below.326 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 327
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Investments and other financial assets (continued) 投資及其他金融資產（續）
Initial recognition and measurement (continued) 初始確認及計量（續）
In order for a financial asset to be classified and measured 為使金融資產按攤銷成本或按公平值計
at amortised cost or fair value through other comprehensive 入其他全面收益進行分類及計量，需產income it needs to give rise to cash flows that are solely 生純粹為支付本金及未償還本金利息
payments of principal and interest (“SPPI”) on the principal （「純粹支付本金及利息」）的現金流量。
amount outstanding. Financial assets with cash flows that are 現金流量並非純粹支付本金及利息的金not SPPI are classified and measured at fair value through 融資產按公平值計入損益分類及計量（無profit or loss irrespective of the business model. 論何種業務模式）。
The Group’s business model for managing financial assets 本集團管理金融資產的業務模式指其如
refers to how it manages its financial assets in order to 何管理其金融資產以產生現金流量。業generate cash flows. The business model determines whether 務模式確定現金流量是否來自收集合約
cash flows will result from collecting contractual cash flows 現金流量、出售金融資產，或兩者兼selling the financial assets or both. Financial assets classified 有。按攤銷成本分類及計量的金融資產and measured at amortised cost are held within a business 於一種業務模式中持有，旨在持有金融model with the objective to hold financial assets in order to 資產以收取合約現金流量，而以公平值collect contractual cash flows while financial assets classified 計入其他全面收益的已分類及計量金融
and measured at fair value through other comprehensive 資產則於一種業務模式中持有，旨在持income are held within a business model with the objective 有以收取合約現金流量及出售。未於上of both holding to collect contractual cash flows and selling. 述業務模式中持有的金融資產，按公平Financial assets which are not held within the aforementioned 值計入損益分類及計量。
business models are classified and measured at fair value
through profit or loss.Purchases or sales of financial assets that require delivery of 按照一般市場規定或慣例須在一定期間
assets within the period generally established by regulation 內交付資產的金融資產買賣於交易日期
or convention in the marketplace are recognised on the trade （即本集團承諾買賣該資產之日）確認。
date that is the date that the Group commits to purchase or
sell the asset.328 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 329
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Investments and other financial assets (continued) 投資及其他金融資產（續）
Subsequent measurement 後續計量
The subsequent measurement of financial assets depends on 金融資產其後視乎以下分類作出計量：
their classification as follows:
Financial assets at amortised cost (debt instruments) 按攤銷成本計量的金融資產（債務工具）
Financial assets at amortised cost are subsequently measured 按攤銷成本計量的金融資產其後使用實
using the effective interest method and are subject to 際利率法計量，並受減值影響。當資產impairment. Gains and losses are recognised in profit or loss 終止確認、修訂或減值時，收益及虧損when the asset is derecognised modified or impaired. 於損益中確認。
Financial assets designated at fair value through other 指定按公平值計入其他全面收益的金融
comprehensive income (equity investments) 資產（股本投資）
Upon initial recognition the Group can elect to classify 於初始確認時，本集團可選擇於股本投irrevocably its equity investments as equity investments 資符合香港會計準則第32號金融工具：
designated at fair value through other comprehensive 呈報項下的股本定義且並非持作買賣
income when they meet the definition of equity under 時，將其股本投資不可撤回地分類為指HKAS 32 Financial Instruments: Presentation and are not 定按公平值計入其他全面收益的股本投
held for trading. The classification is determined on an 資。分類乃按個別工具基準釐定。
instrument-by-instrument basis.Gains and losses on these financial assets are never recycled 該等金融資產的收益及虧損概不會被重
to the statement of profit or loss. Dividends are recognised 新計入損益表。當支付權確立，股息於as other income in the statement of profit or loss when the 損益表中確認為其他收入，惟當本集團right of payment has been established except when the 於作為收回金融資產一部份成本的所得
Group benefits from such proceeds as a recovery of part of 款項中獲益時則除外，於此等情況下，the cost of the financial asset in which case such gains are 該等收益於其他全面收益入賬。指定按recorded in other comprehensive income. Equity investments 公平值計入其他全面收益的股本投資不
designated at fair value through other comprehensive income 受減值評估影響。
are not subject to impairment assessment.328 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 329
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Derecognition of financial assets 終止確認金融資產A financial asset (or where applicable a part of a financial 出現以下情形時，金融資產（或（如適asset or part of a group of similar financial assets) is primarily 用）部份金融資產或一組同類金融資產的derecognised (i.e. removed from the Group’s consolidated 一部份）一般會終止確認（即自本集團綜statement of financial position) when: 合財務狀況表移除）：
* the rights to receive cash flows from the asset have * 從資產收取現金流量的權利已屆
expired; or 滿；或
* the Group has transferred its rights to receive cash flows * 本集團已根據「轉手」安排轉讓從資
from the asset or has assumed an obligation to pay the 產收取現金流量的權利，或已承擔received cash flows in full without material delay to a third 向第三方無重大延誤全額支付所收
party under a “pass-through” arrangement; and either 現金流量的責任；及(a)本集團已轉
(a) the Group has transferred substantially all the risks 讓資產的絕大部份風險及回報，或and rewards of the asset or (b) the Group has neither (b)本集團雖未轉讓或保留資產的絕
transferred nor retained substantially all the risks and 大部份風險及回報，但已轉讓資產rewards of the asset but has transferred control of the 的控制權。
asset.When the Group has transferred its rights to receive cash flows 倘本集團已轉讓從資產收取現金流量的
from an asset or has entered into a pass-through arrangement 權利或訂立轉手安排，則評估有否保留it evaluates if and to what extent it has retained the risk 資產所有權的風險及回報及保留程度。
and rewards of ownership of the asset. When it has neither 倘本集團並無轉讓或保留資產的絕大部
transferred nor retained substantially all the risks and rewards 份風險及回報，亦無轉讓資產控制權，of the asset nor transferred control of the asset the Group 則本集團將以本集團持續參與程度為限
continues to recognise the transferred asset to the extent of 繼續確認所轉讓資產。在該情況下，本the Group’s continuing involvement. In that case the Group 集團亦確認相關負債。已轉讓資產及相also recognises an associated liability. The transferred asset 關負債根據反映本集團所保留權利及責
and the associated liability are measured on a basis that 任的基準計量。
reflects the rights and obligations that the Group has retained.Continuing involvement that takes the form of a guarantee over 通過對已轉讓資產作出擔保的形式持續
the transferred asset is measured at the lower of the original 參與的計量，按資產原賬面值與本集團carrying amount of the asset and the maximum amount of 或須償還的最高代價兩者中的較低者計
consideration that the Group could be required to repay. 算。330 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 331NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Impairment of financial assets 金融資產減值
The Group recognises an allowance for expected credit losses 本集團確認對並非按公平值計入損益的(“ECLs”) for all debt instruments not held at fair value through 所有債務工具預期信貸虧損（「預期信貸profit or loss. ECLs are based on the difference between the 虧損」）的撥備。預期信貸虧損乃基於根contractual cash flows due in accordance with the contract 據合約到期的合約現金流量與本集團預
and all the cash flows that the Group expects to receive 期收取的所有現金流量之間的差額而釐
discounted at an approximation of the original effective interest 定、以原實際利率的近似值貼現。預期rate. The expected cash flows will include cash flows from the 現金流量將包括出售所持抵押的現金流
sale of collateral held or other credit enhancements that are 量或組成合約條款的其他信貸提升措施。
integral to the contractual terms.General approach 普通法
ECLs are recognised in two stages. For credit exposures for 預期信貸虧損分兩個階段進行確認。就which there has not been a significant increase in credit risk 自初始確認起信貸風險並無大幅增加的
since initial recognition ECLs are provided for credit losses 信貸敞口而言，會就未來12個月內可能that result from default events that are possible within the next 發生違約事件而導致的信貸虧損（12個
12 months (a 12-month ECL). For those credit exposures for 月預期信貸虧損）計提預期信貸虧損。就
which there has been a significant increase in credit risk since 自初始確認起信貸風險大幅增加的該等
initial recognition a loss allowance is required for credit losses 信貸敞口而言，不論何時發生違約，於expected over the remaining life of the exposure irrespective 敞口的餘下年期內的預期信貸虧損均須
of the timing of the default (a lifetime ECL). 計提虧損撥備（全期預期信貸虧損）。
At each reporting date the Group assesses whether the credit 於各報告日期，本集團評估金融工具信risk on a financial instrument has increased significantly since 貸風險是否自初始確認起大幅增加。於initial recognition. When making the assessment the Group 進行評估時，本集團比較金融工具於報compares the risk of a default occurring on the financial 告日期發生違約的風險及金融工具於初
instrument as at the reporting date with the risk of a default 始確認日期發生違約的風險，認為在無occurring on the financial instrument as at the date of initial 需付出過多成本或努力的情況下即可獲recognition and considers reasonable and supportable 得合理可靠的資料（包括歷史及前瞻性資information that is available without undue cost or effort 料）。本集團認為，當合約付款逾期30including historical and forward-looking information. The Group 天以上時，信貸風險顯著增加。
considers that there has been a significant increase in credit
risk when contractual payments are more than 30 days past
due.330 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 331
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Impairment of financial assets (continued) 金融資產減值（續）
General approach (continued) 普通法（續）
The Group considers a financial asset in default when 本集團會在合約付款逾期90日至150日
contractual payments are 90 days to 150 days past due. 時考慮金融資產違約。然而，在若干情However in certain cases the Group may also consider 況下，當內部或外部資料顯示，在並無a financial asset to be in default when internal or external 計及本集團持有的任何信貸提升措施
information indicates that the Group is unlikely to receive the 時，本集團不大可能悉數收到未償還合outstanding contractual amounts in full before taking into 約款項，則本集團亦可認為金融資產違account any credit enhancements held by the Group. 約。
A financial asset is written off when there is no reasonable 倘無法合理預期收回合約現金流量，則expectation of recovering the contractual cash flows. 撇銷金融資產。
Debt investments at fair value through other comprehensive 按公平值計入其他全面收益之債務投資
income and financial assets at amortised cost are subject to 及按攤銷成本計量的金融資產乃根據普
impairment under the general approach and they are classified 通法減值，且於以下階段就預期信貸虧within the following stages for measurement of ECLs except 損計量予以分類，惟採用下文所述簡化for trade receivables which apply the simplified approach as 法的貿易應收款項除外。
detailed below.Stage 1 － Financial instruments for which credit risk has not increased significantly 第一階段 － 信貸風險自初始確認起並未大幅增加且其
since initial recognition and for which the loss allowance is measured at an 虧損撥備按等於12個月預期信貸虧損的數
amount equal to 12-month ECLs 額計量的金融工具
Stage 2 － Financial instruments for which credit risk has increased significantly since 第二階段 － 信貸風險自初始確認起大幅增加但並非信
initial recognition but that are not credit-impaired financial assets and for 貸減值金融資產且其虧損撥備按等於全期
which the loss allowance is measured at an amount equal to lifetime ECLs 預期信貸虧損的數額計量的金融工具Stage 3 － Financial assets that are credit-impaired at the reporting date (but that 第三階段 － 於報告日期出現信貸減值（但並非購入或are not purchased or originated credit-impaired) and for which the loss 源生信貸減值）且其虧損撥備按等於全期
allowance is measured at an amount equal to lifetime ECLs 預期信貸虧損的數額計量的金融資產332 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 333
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Impairment of financial assets (continued) 金融資產減值（續）
Simplified approach 簡化法
For trade receivables that do not contain a significant financing 就並無重大融資成分或本集團已應用並
component or when the Group applies the practical expedient 未就重大融資成分的影響作出調整的可
of not adjusting the effect of a significant financing component 行權宜方法的貿易應收款項而言，本集the Group applies the simplified approach in calculating ECLs. 團採用簡化法計算預期信貸虧損。根Under the simplified approach the Group does not track 據簡化法，本集團並未追蹤信貸風險變changes in credit risk but instead recognises a loss allowance 動，轉而於各報告日期根據全期預期信based on lifetime ECLs at each reporting date. The Group has 貸虧損確認虧損撥備。本集團已根據其established a provision matrix that is based on its historical 歷史信貸虧損經驗建立撥備矩陣，並就credit loss experience adjusted for forward-looking factors 債務人及經濟環境特定的前瞻性因素作
specific to the debtors and the economic environment. 出調整。
Financial liabilities 金融負債
Initial recognition and measurement 初始確認及計量
Financial liabilities are classified at initial recognition as 金融負債於初始確認時分類為按公平值
financial liabilities at fair value through profit or loss loans and 計入損益的金融負債、貸款及借貸或應
borrowings or payables. 付款項。
All financial liabilities are recognised initially at fair value and 所有金融負債初始按公平值確認，貸款in the case of loans and borrowings and payables net of 及借貸以及應付款項則須扣除直接應佔
directly attributable transaction costs. 交易成本。
The Group’s financial liabilities include trade payables 本集團的金融負債包括貿易應付款項、
financial liabilities included in other payables and accruals 計入其他應付款項及應計費用的金融負
amounts due to related parties interest-bearing bank 債、應付關聯方款項、計息銀行借款以
borrowings and lease liabilities. 及租賃負債。
Subsequent measurement 後續計量
The subsequent measurement of financial liabilities depends 金融負債其後視乎以下分類作出計量：
on their classification as follows:332 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 333
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Financial liabilities (continued) 金融負債（續）Financial liabilities at amortised cost (trade and other payables 按攤銷成本計量的金融負債（貿易及其他and borrowings) 應付款項及借貸）
After initial recognition trade and other payables and 初始確認後，貿易及其他應付款項以及interest-bearing borrowings are subsequently measured at 計息借貸其後以實際利率法按攤銷成本
amortised cost using the effective interest rate method unless 計量，若貼現影響不大，則按成本列the effect of discounting would be immaterial in which case 賬。收益及虧損於負債終止確認時透過they are stated at cost. Gains and losses are recognised in the 實際利率攤銷程序於損益表確認。
statement of profit or loss when the liabilities are derecognised
as well as through the effective interest rate amortisation
process.Amortised cost is calculated by taking into account any 計算攤銷成本時已計及任何收購折讓或
discount or premium on acquisition and fees or costs that 溢價及屬實際利率不可分割部份的費用
are an integral part of the effective interest rate. The effective 或成本。實際利率攤銷則計入損益表的interest rate amortisation is included in finance costs in the 財務費用。
statement of profit or loss.334 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 335
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Derecognition of financial liabilities 終止確認金融負債
A financial liability is derecognised when the obligation under 金融負債於負債的責任解除、註銷或屆
the liability is discharged or cancelled or expires. 滿時終止確認。
When an existing financial liability is replaced by another 當現有金融負債被同一貸款人以條款明
from the same lender on substantially different terms or the 顯不同的負債取代時，或現有負債的條terms of an existing liability are substantially modified such 款有重大修改時，有關替換或修改則視an exchange or modification is treated as a derecognition of 為終止確認原有負債並確認一項新負
the original liability and a recognition of a new liability and 債，而相關賬面值的差額於損益表確認。
the difference between the respective carrying amounts is
recognised in the statement of profit or loss.Offsetting of financial instruments 抵銷金融工具
Financial assets and financial liabilities are offset and the net 當且僅當有現行可強制執行的法律權利
amount is reported in the statement of financial position if 抵銷已確認金額，並且擬以淨額基準進and only if there is a currently enforceable legal right to offset 行結算或同時將資產變現及清償負債，the recognised amounts and there is an intention to settle on 方可將金融資產及金融負債抵銷，而淨a net basis or to realise the assets and settle the liabilities 額於財務狀況表呈報。
simultaneously.Inventories 存貨
Inventories are stated at the lower of cost and net realisable 存貨按成本及可變現淨值兩者中的較低
value. Cost is determined on the weighted average basis and 者列賬。成本按加權平均基準釐定，而in the case of work in progress and finished goods comprises 就在製品及製成品而言，成本包括直接direct materials direct labour and an appropriate proportion 材料、直接勞工及適當比例的生產費
of overheads. Costs for properties under development include 用。發展中物業成本包括土地成本、建land costs construction costs and other direct and indirect 造成本及其他與物業開發有關的直接及
development expenses in relation to property development. 間接開發開支。可變現淨值按估計售價Net realisable value is based on estimated selling prices less 減去任何在完成及出售過程中產生的估
any estimated costs to be incurred to completion and disposal. 計費用計。
Cash and cash equivalents 現金及現金等價物
Cash and cash equivalents in the statement of financial 財務狀況表內的現金及現金等價物包括
position comprise cash on hand and at banks and short-term 手頭現金及銀行存款，及為履行短期現highly liquid deposits with a maturity of generally within three 金承諾而持有、通常於三個月內到期、
months that are readily convertible into known amounts of 可隨時轉換為已知金額現金且價值變動
cash subject to an insignificant risk of changes in value and 風險不大的短期高變現能力存款。
held for the purpose of meeting short-term cash commitments.For the purpose of the consolidated statement of cash flows 就綜合現金流量表而言，現金及現金等cash and cash equivalents comprise cash on hand and at 價物包括手頭現金及銀行存款以及上文
banks and short-term deposits as defined above less bank 界定的短期存款，減須按要求償還的銀overdrafts which are repayable on demand and form an 行透支，為本集團現金管理的組成部分。
integral part of the Group’s cash management.334 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 335
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Provisions 撥備
A provision is recognised when there is a present obligation 倘因過往事件而產生現時法定或推定責
(legal or constructive) has arisen as a result of a past event 任，而履行該責任可能導致未來資源流and it is probable that a future outflow of resources will be 出，且該責任所涉金額能夠可靠估計，required to settle the obligation provided that a reliable 則確認撥備。當本集團預計部分或全部estimate can be made of the amount of the obligation. When 撥備將得到報銷時，報銷金額將確認為the Group expects some or all of a provision to be reimbursed 單獨資產，但僅當報銷金額幾乎確定時the reimbursement is recognised as a separate asset but 才予以確認。與撥備相關的費用在扣除only when the reimbursement is virtually certain. The expense 任何報銷後的損益表中呈列。
relating to a provision is presented in the statement of profit or
loss net of any reimbursement.When the effect of discounting is material the amount 倘貼現影響重大，則確認撥備的數額為recognised for a provision is the present value at the end of 預期日後履行有關責任所需開支於報告
the reporting period of the future expenditures expected to be 期末的現值。倘已貼現的現值隨時間而required to settle the obligation. The increase in the discounted 有所增加，則該等增幅將於損益表列作present value amount arising from the passage of time is 財務費用。
included in finance costs in the statement of profit or loss.Income tax 所得稅
Income tax comprises current and deferred tax. Income tax 所得稅包括即期及遞延稅項。與於損益relating to items recognised outside profit or loss is recognised 外確認的項目有關的所得稅於損益外確
outside profit or loss either in other comprehensive income or 認為其他全面收益或直接於權益中確認。
directly in equity.Current tax assets and liabilities are measured at the amount 即期稅項資產及負債，根據於報告期expected to be recovered from or paid to the taxation 末已頒佈或實質上已頒佈的稅率（及稅authorities based on tax rates (and tax laws) that have been 法），按預期獲稅務機關退回或向稅務機enacted or substantively enacted by the end of the reporting 關支付的款項，並計及本集團經營所在period taking into consideration interpretations and practices 國家現行法律詮釋及慣例計量。
prevailing in the countries in which the Group operates.Deferred tax is provided using the liability method on all 遞延稅項於報告期末採用負債法就資產
temporary differences at the end of the reporting period 及負債稅基與其就財務報告目的所使用
between the tax bases of assets and liabilities and their 的賬面值的所有暫時差額撥備。
carrying amounts for financial reporting purposes.336 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 337
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Income tax (continued) 所得稅（續）
Deferred tax liabilities are recognised for all taxable temporary 除下列情況外，會就所有應課稅暫時差differences except: 額確認遞延稅項負債：
* when the deferred tax liability arises from the initial * 倘遞延稅項負債因非業務合併交易
recognition of an asset or liability in a transaction that 中初始確認資產或負債而產生，且is not a business combination and at the time of the 於交易時遞延稅項負債不會影響會
transaction affects neither the accounting profit nor 計溢利或應課稅溢利或虧損及不會
taxable profit or loss and does not give rise to equal 產生相等的應課稅及可扣減暫時差
taxable and deductible temporary differences; and 額；及
* in respect of taxable temporary differences associated * 就於子公司及聯營公司投資相關的
with investments in subsidiaries and associates when 應課稅暫時差額而言，倘可控制暫the timing of the reversal of the temporary differences 時差額的撥回時間，且於可見未來can be controlled and it is probable that the temporary 可能不會撥回暫時差額。
differences will not reverse in the foreseeable future.Deferred tax assets are recognised for all deductible temporary 於有可能動用應課稅溢利以抵銷可扣減
differences and the carryforward of unused tax credits and any 暫時差額以及未動用稅項抵免及未動用
unused tax losses to the extent that it is probable that taxable 稅項虧損結轉的情況下，就所有可扣減profit will be available against which the deductible temporary 暫時差額以及未動用稅項抵免及任何未
differences and the carryforward of unused tax credits and 動用稅項虧損結轉確認遞延稅項資產，unused tax losses can be utilised except: 惟下列情況除外：
* when the deferred tax asset relating to the deductible * 倘涉及可扣減暫時差額的遞延稅項
temporary differences arises from the initial recognition of 資產因非業務合併交易中初始確認
an asset or liability in a transaction that is not a business 資產或負債而產生，且於交易時遞combination and at the time of the transaction affects 延稅項資產不會影響會計溢利或應
neither the accounting profit nor taxable profit or loss 課稅溢利或虧損及不會產生相等的
and does not give rise to equal taxable and deductible 應課稅及可扣減暫時差額；及
temporary differences; and
* in respect of deductible temporary differences associated * 就於子公司及聯營公司投資相關的
with investments in subsidiaries and associates deferred 可扣減暫時差額而言，遞延稅項資tax assets are only recognised to the extent that it is 產僅於可見未來可能撥回暫時差
probable that the temporary differences will reverse in 額，且可動用應課稅溢利以抵銷暫the foreseeable future and taxable profit will be available 時差額的情況下確認。
against which the temporary differences can be utilised.336 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 337
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Income tax (continued) 所得稅（續）
The carrying amount of deferred tax assets is reviewed at the 遞延稅項資產賬面值於各報告期末檢
end of each reporting period and reduced to the extent that 討，並於不再可能有足夠應課稅溢利可it is no longer probable that sufficient taxable profit will be 容許動用全部或部份遞延稅項資產的情
available to allow all or part of the deferred tax asset to be 況下予以扣減。未確認遞延稅項資產於utilised. Unrecognised deferred tax assets are reassessed at 各報告期末重新評估，並在可能有足夠the end of each reporting period and are recognised to the 應課稅溢利可容許收回全部或部份遞延
extent that it has become probable that sufficient taxable profit 稅項資產的情況下予以確認。
will be available to allow all or part of the deferred tax asset to
be recovered.Deferred tax assets and liabilities are measured at the tax 遞延稅項資產及負債，根據於報告期rates that are expected to apply to the period when the asset 末已頒佈或實質上已頒佈的稅率（及稅is realised or the liability is settled based on tax rates (and tax 法），按預期適用於變現資產或清償負債laws) that have been enacted or substantively enacted by the 期間的稅率計量。
end of the reporting period.Deferred tax assets and deferred tax liabilities are offset if 當且僅當本集團有可強制執行的法律權
and only if the Group has a legally enforceable right to set off 利可將即期稅項資產與即期稅項負債抵
current tax assets and current tax liabilities and the deferred 銷，且遞延稅項資產與遞延稅項負債與tax assets and deferred tax liabilities relate to income taxes 同一稅務機關對同一應課稅實體或於預
levied by the same taxation authority on either the same 期有大額遞延稅項負債或資產需要結算
taxable entity or different taxable entities which intend either 或清償的各未來期間擬按淨額基準結算
to settle current tax liabilities and assets on a net basis or to 即期稅項負債及資產或同時變現資產及
realise the assets and settle the liabilities simultaneously in 結算負債之不同稅務實體徵收之所得稅
each future period in which significant amounts of deferred tax 相關，則遞延稅項資產與遞延稅項負債liabilities or assets are expected to be settled or recovered. 可予抵銷。
Government grants 政府補助
Government grants are recognised at their fair value where 政府補助在合理確定將會收取補助及將
there is reasonable assurance that the grant will be received 會符合一切所附條件時，按其公平值確and all attaching conditions will be complied with. When the 認。如補助與開支項目有關，其將於擬grant relates to an expense item it is recognised as income on 用作補償的成本支銷期間按系統基準確
a systematic basis over the periods that the costs for which it 認為收入。
is intended to compensate are expensed.Where the grant relates to an asset the fair value is credited to 倘補助與資產有關，則公平值計入遞延a deferred income account and is released to the statement of 收入賬，並在相關資產的預期可使用年profit or loss over the expected useful life of the relevant asset 期內逐年按等額分期撥回損益表，或自by equal annual instalments or deducted from the carrying 資產賬面值扣減並通過減少折舊開支方
amount of the asset and released to the statement of profit or 式撥回損益表。
loss by way of a reduced depreciation charge.338 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 339
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Revenue recognition 銷售收入確認
Revenue from contracts with customers 客戶合約收入
Revenue from contracts with customers is recognised when 於貨品或服務的控制權按反映本集團預
control of goods or services is transferred to the customers at 期就交換該等貨品或服務有權收取的代
an amount that reflects the consideration to which the Group 價的金額轉移予客戶時確認客戶合約收
expects to be entitled in exchange for those goods or services. 入。
Revenue from other sources 由其他來源產生之收入
Rental income is recognised on a time proportion basis 租金收入於租賃期按時間比例確認。不over the lease terms. Variable lease payments that do not 取決於某一指數或比率的可變租賃付款
depend on an index or a rate are recognised as income in the 於產生的會計期間確認為收入。
accounting period in which they are incurred.Other income 其他收入
Interest income is recognised on an accrual basis using the 利息收入按應計基準使用實際利率法，effective interest method by applying the rate that exactly 透過採用將金融工具在預期可使用年期
discounts the estimated future cash receipts over the expected 或較短期間（如適用）內的估計未來現金
life of the financial instrument or a shorter period when 收入準確貼現至金融資產之賬面淨值的
appropriate to the net carrying amount of the financial asset. 比率予以確認。
Contract liabilities 合約負債
A contract liability is recognised when a payment is received 合約負債於本集團向客戶轉移相關貨品or a payment is due (whichever is earlier) from a customer 或服務前收取或付款到期時（以較早者為before the Group transfers the related goods or services. 準）確認。合約負債於本集團履行合約時Contract liabilities are recognised as revenue when the Group （即相關商品或服務的控制權轉移至客戶performs under the contract (i.e. transfers control of the 時）確認為收入。
related goods or services to the customer).Share-based payments 以股份付款
The Company operates a share option scheme. Employees 本公司實施一項購股權計劃。本集團僱(including directors) of the Group receive remuneration in the 員（包括董事）以股份付款的方式收取報form of share-based payments whereby employees render 酬，僱員提供服務以換取股本工具（「股services in exchange for equity instruments (“equity-settled 權結算交易」）。與僱員進行股權結算交transactions”). The cost of equity-settled transactions with 易的成本，乃參照授出日期的公平值而employees is measured by reference to the fair value at the 計量。公平值由外聘估值師採用二項式date at which they are granted. The fair value is determined 模式釐定，進一步詳情載於財務報表附by an external valuer using a binomial model further details of 註31。
which are given in note 31 to the financial statements.338 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 339
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Share-based payments (continued) 以股份付款（續）
The cost of equity-settled transactions is recognised in 股權結算交易成本連同權益相應增加部
employee benefit expense together with a corresponding 份，在績效及╱或服務條件達成時於期increase in equity over the period in which the performance 內在僱員福利開支確認。截至歸屬日期and/or service conditions are fulfilled. The cumulative expense 前於報告期末確認的股權結算交易的累
recognised for equity-settled transactions at the end of each 計開支，反映歸屬期已到期部份及本集reporting period until the vesting date reflects the extent to 團對最終將會歸屬的股本工具數目的最
which the vesting period has expired and the Group’s best 佳估計。期內在損益表扣除或進賬，乃estimate of the number of equity instruments that will ultimately 指期初與期終已確認的累計開支的變動。
vest. The charge or credit to the statement of profit or loss for
a period represents the movement in the cumulative expense
recognised as at the beginning and end of that period.Service and non-market performance conditions are not 釐定獎勵的授出日期公平值並不考慮服
taken into account when determining the grant date fair 務及非市場表現條件，惟能達成條件的value of awards but the likelihood of the conditions being 可能性則被評定為將最終歸屬為本集團
met is assessed as part of the Group’s best estimate of the 股本工具數目的最佳估計的一部份。
number of equity instruments that will ultimately vest. Market 市場表現條件將反映在授出日期的公平
performance conditions are reflected within the grant date fair 值。附帶於獎勵中但並無相關聯服務要value. Any other conditions attached to an award but without 求的其他任何條件皆視為非歸屬條件。
an associated service requirement are considered to be 反映非歸屬條件的獎勵公平值若當中不
non-vesting conditions. Non-vesting conditions are reflected in 包含服務及╱或表現條件乃即時予以支
the fair value of an award and lead to an immediate expensing 銷。
of an award unless there are also service and/or performance
conditions.For awards that do not ultimately vest because non-market 因未能達至非市場表現及╱或服務條
performance and/or service conditions have not been met 件，而導致最終並無歸屬的獎勵並不會no expense is recognised. Where awards include a market or 確認支銷，惟包括一項市場或非歸屬條non-vesting condition the transactions are treated as vesting 件之獎勵，無論市場或非歸屬條件是否irrespective of whether the market or non-vesting condition is 達成，其均會被視為已歸屬，前提是所satisfied provided that all other performance and/or service 有其他表現及╱或服務條件須已達成。
conditions are satisfied.Where the terms of an equity-settled award are modified as 倘股權結算獎勵的條款有變更，假設符a minimum an expense is recognised as if the terms had not 合獎勵原條款，則所確認之開支最少須been modified if the original terms of the award are met. In 達到猶如條款並無任何變更的水平。此addition an expense is recognised for any modification that 外，倘按變更日期之計量，任何變更導increases the total fair value of the share-based payments or 致以股份付款的公平值總額增加，或為is otherwise beneficial to the employee as measured at the 僱員帶來其他利益，則就該等變更確認date of modification. 開支。340 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 341NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Share-based payments (continued) 以股份付款（續）
Where an equity-settled award is cancelled it is treated as if 倘股權結算獎勵註銷，則視為已於註銷it had vested on the date of cancellation and any expense 日期歸屬，任何尚未確認之獎勵（包括not yet recognised for the award is recognised immediately. 未能符合本集團或僱員可控制的非歸屬This includes any award where non-vesting conditions within 條件的任何獎勵）開支，均即時確認。
the control of either the Group or the employee are not met. 然而，若已授出新獎勵代替已註銷的獎However if a new award is substituted for the cancelled 勵，並於授出日期指定為替代獎勵，則award and is designated as a replacement award on the date 如前段所述，已註銷獎勵及新獎勵均視that it is granted the cancelled and new awards are treated as 為原有獎勵的變更。
if they were a modification of the original award as described
in the previous paragraph.The dilutive effect of outstanding options is reflected as 計算每股盈利時，未行使購股權的攤薄additional share dilution in the computation of earnings per 效應，反映為額外股份攤薄。
share.Other employee benefits 其他僱員福利
Pension scheme 退休金計劃
The employees of the Group’s subsidiary which operates in 本集團於中國內地營運的子公司屬下的
Mainland China are required to participate in a central pension 僱員須參與由有關地方市政府營運的中
scheme operated by the local municipal government. This 央退休金計劃。該子公司須按僱員薪金subsidiary is required to contribute a certain percentage of its 若干百分比對中央退休金計劃供款。供payroll costs to the central pension scheme. The contributions 款於按中央退休金計劃規則應付時在損
are charged to the statement of profit or loss as they become 益表內支銷。
payable in accordance with the rules of the central pension
scheme.Termination benefits 離職福利
Termination benefits are recognised at the earlier of when the 離職福利於本集團不再能取消提供該等
Group can no longer withdraw the offer of those benefits and 福利時及本集團確認涉及支付離職福利
when the Group recognises restructuring costs involving the 之重組成本時之較早者確認。
payment of termination benefits.Borrowing costs 借款成本Borrowing costs directly attributable to the acquisition 收購、建設或生產合資格資產（即需要一construction or production of qualifying assets i.e. assets 段較長時間方可達致擬定用途或出售的that necessarily take a substantial period of time to get ready 資產）直接應佔的借款成本會撥充資本，for their intended use or sale are capitalised as part of the 作為該等資產的部份成本。當資產已大cost of those assets. The capitalisation of such borrowing 致可作擬定用途或出售時，則不會再將costs ceases when the assets are substantially ready for their 該等借款成本撥充資本。所有其他借款intended use or sale. All other borrowing costs are expensed 成本於產生期間支銷。借款成本包括一in the period in which they are incurred. Borrowing costs 間實體借款時產生的利息及其他成本。
consist of interest and other costs that an entity incurs in
connection with the borrowing of funds.340 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 341
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Events after the reporting period 報告期後事項
There is no material subsequent event undertaken by the 於二零二四年十二月三十一日後，本集Group after 31 December 2024. 團並無進行重大後續事項。
Dividends 股息
Final dividends are recognised as a liability when they are 末期股息於股東在股東大會上批准時確
approved by the shareholders in a general meeting. Proposed 認作負債。擬派末期股息乃於財務報表final dividends are disclosed in the notes to the financial 附註披露。
statements.Interim dividends are simultaneously proposed and declared 由於本公司的組織章程大綱及細則授權
because the Company’s memorandum and articles of 董事宣派中期股息，故中期股息乃同時association grant the directors the authority to declare interim 予以擬派及宣派。因此，中期股息於擬dividends. Consequently interim dividends are recognised 派及宣派後隨即確認為負債。
immediately as a liability when they are proposed and
declared.Foreign currencies 外幣
These financial statements are presented in US$ which is 該等財務報表以本公司的功能貨幣美元
the Company’s functional currency. Each entity in the Group 呈列。本集團各實體自行決定其功能貨determines its own functional currency and items included in 幣，而各實體財務報表所載項目均採用the financial statements of each entity are measured using that 該功能貨幣計量。本集團實體記錄的外functional currency. Foreign currency transactions recorded 幣交易初步採用其各自於交易日期的功
by the entities in the Group are initially recorded using their 能貨幣匯率入賬。以外幣計值的貨幣資respective functional currency rates prevailing at the dates of 產及負債按各報告期末的功能貨幣匯率
the transactions. Monetary assets and liabilities denominated 換算。結算或換算貨幣項目產生的差額in foreign currencies are translated at the functional currency 於損益表確認。
rates of exchange ruling at the end of the reporting period.Differences arising on settlement or translation of monetary
items are recognised in the statement of profit or loss.Non-monetary items that are measured in terms of historical 根據以外幣計值的歷史成本計量的非貨
cost in a foreign currency are translated using the exchange 幣項目採用首次交易日期的匯率換算。
rates at the dates of the initial transactions. Non-monetary 按外幣公平值計量的非貨幣項目採用計
items measured at fair value in a foreign currency are 量公平值當日的匯率換算。換算以公平translated using the exchange rates at the date when the fair 值計量的非貨幣項目產生的收益或虧損
value was measured. The gain or loss arising on translation 按與確認項目公平值變動的收益或虧損of a non-monetary item measured at fair value is treated 一致的方式處理（即公平值收益或虧損in line with the recognition of the gain or loss on change 於其他全面收益或損益確認的項目的換
in fair value of the item (i.e. translation difference on the 算差額亦分別於其他全面收益或損益確item whose fair value gain or loss is recognised in other 認）。
comprehensive income or profit or loss is also recognised in
other comprehensive income or profit or loss respectively).342 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 343
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
2. ACCOUNTING POLICIES (continued) 2. 會計政策（續）
2.4 MATERIAL ACCOUNTING POLICIES 2.4 重大會計政策（續）
(continued)
Foreign currencies (continued) 外幣（續）
In determining the exchange rate on initial recognition of the 就釐定於初步確認有關資產、開支或收
related asset expense or income on the derecognition of a 入就非貨幣性資產或與墊支代價相關的
non-monetary asset or non-monetary liability relating to an 非貨幣性負債的終止確認所用的匯率
advance consideration the date of initial transaction is the 時，首次交易日期為本集團最初確認非date on which the Group initially recognises the non-monetary 貨幣性資產或墊支代價產生的非貨幣性
asset or non-monetary liability arising from the advance 負債的日期。倘存在多筆預付款或預收consideration. If there are multiple payments or receipts in 款，本集團須就每筆支付墊支代價或收advance the Group determines the transaction date for each 取墊支代價釐定交易日期。
payment or receipt of the advance consideration.The functional currencies of certain Mainland Chin and 若干中國內地及海外子公司及聯營公司
overseas subsidiaries and associate are currencies other 的功能貨幣為美元以外的貨幣。於報告than US$. As at the end of the reporting period the assets 期末，該等實體的資產及負債按報告期and liabilities of these entities are translated into US$ at the 末的通行匯率換算為美元，而其損益表exchange rates prevailing at the end of the reporting period 按與交易日期通行匯率大致相若的匯率
and their statements of profit or loss are translated into US$ at 換算為美元。
the exchange rates that approximate to those prevailing at the
dates of the transactions.The resulting exchange differences are recognised in other 由此產生的匯兌差額於其他全面收益確
comprehensive income and accumulated in the exchange 認，並於匯率波動儲備中累計，除非有fluctuation reserve except to the extent that the differences 關差額來自非控股權益。出售國外業務are attributable to non-controlling interests. On disposal of 時，儲備內有關特定國外業務的累計金a foreign operation the cumulative amount in the reserve 額於損益表確認。
relating to that particular foreign operation is recognised in the
statement of profit or loss.For the purpose of the consolidated statement of cash flows 就綜合現金流量表而言，中國內地及海the cash flows of Mainland China and overseas subsidiaries 外子公司的現金流量乃按年內現金流量
are translated into US$ at the weighted average exchange 的加權平均匯率換算為美元。中國內地rates for the year of the cash flows. Frequently recurring cash 及海外子公司年內重複產生的現金流量
flows of Mainland China and overseas subsidiaries which arise 乃按年內的加權平均匯率換算為美元。
throughout the year are translated into US$ at the weighted
average exchange rates for the year.342 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 343
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
3. SIGNIFICANT ACCOUNTING ESTIMATES 3. 重要會計估計及假設
AND ASSUMPTIONS
The preparation of the Group’s financial statements requires 管理層在編製本集團財務報表時須作出
management to make judgements estimates and assumptions 判斷、估計及假設，而有關判斷、估計that affect the reported amounts of revenues expenses assets 及假設會對收入、開支、資產及負債的
and liabilities and their accompanying disclosures and the 呈報金額及其隨附披露，以及或然負債disclosure of contingent liabilities. Uncertainty about these 披露造成影響。該等假設及估計的不確assumptions and estimates could result in outcomes that could 定性或會導致須對在未來遭受影響的資
require a material adjustment to the carrying amounts of the 產或負債的賬面值進行重大調整。
assets or liabilities affected in the future.Judgements 判斷
In the process of applying the Group’s accounting policies 於採納本集團會計政策的過程中，除涉management has made the following judgements apart from 及估計的會計政策外，管理層已作出對those involving estimations which have the most significant 財務報表已確認金額構成最重大影響的
effect on the amounts recognised in the financial statements: 判斷如下：
Property lease classification – Group as lessor 物業租賃分類－本集團作為出租人
The Group has entered into commercial property leases on 本集團訂立有關投資物業組合的商務物
its investment property portfolio. The Group has determined 業租賃。根據對有關安排條款及條件之based on an evaluation of the terms and conditions of the 評估，如租期不構成商用物業之經濟壽arrangements such as the lease term not constituting a major 命的主要部分且最低租賃款項現值不等
part of the economic life of the commercial property and the 於商用物業之絕大部分公平值，本集團present value of the minimum lease payments not amounting 已釐定其保留該等物業所有權附帶的絕
to substantially all the fair value of the commercial property 大部分風險及回報，並將有關合約以經that it retains substantially all the significant risks and rewards 營租賃入賬。
incidental to ownership of these properties which are leased
out and accounts for the contracts as operating leases.Estimation uncertainty 估計不確定性
The key assumptions concerning the future and other key 於報告期末，有關未來的主要假設及估sources of estimation uncertainty at the end of the reporting 計不確定的其他主要來源（存在導致於下period that have a significant risk of causing a material 一財政年度內對資產及負債的賬面值作adjustment to the carrying amounts of assets and liabilities 出重大調整的重大風險）論述如下。
within the next financial year are described below.344 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 345
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
3. SIGNIFICANT ACCOUNTING ESTIMATES 3. 重要會計估計及假設（續）
AND ASSUMPTIONS (continued)
Estimation uncertainty (continued) 估計不確定性（續）
Impairment of non-financial assets (other than goodwill) 非金融資產（商譽除外）減值
The Group assesses whether there are any indicators 本集團於各報告期末評估所有非金融
of impairment for all non-financial assets (including the 資產（包括使用權資產）有否任何減值
right-of-use assets) at the end of each reporting period. 跡象。年期無限的無形資產每年及於該Indefinite life intangible assets are tested for impairment 跡象存在的其他時間作減值測試。其他annually and at other times when such an indicator exists. 非金融資產在有跡象表明可能無法收回
Other non-financial assets are tested for impairment when 賬面值時進行減值測試。當資產或現金there are indicators that the carrying amounts may not be 產生單位賬面值超過可收回金額時，即recoverable. An impairment exists when the carrying value of 存在減值，可收回金額按公平值減出售an asset or a cash-generating unit exceeds its recoverable 費用或使用價值兩者的較高者計算。公amount which is the higher of its fair value less costs of 平值減出售費用按類似資產按公平原則
disposal and its value in use. The calculation of the fair value 進行具約束力的銷售交易所得的數據或
less costs of disposal is based on available data from binding 可觀察市場價格減出售資產的增量成本
sales transactions in an arm’s length transaction of similar 計算。計算使用價值時，管理層須估計assets or observable market prices less incremental costs for 資產或現金產生單位的預期未來現金流
disposing of the asset. When value in use calculations are 量，並選擇適合的折現率計算該等現金undertaken management must estimate the expected future 流量的現值。
cash flows from the asset or cash-generating unit and choose
a suitable discount rate in order to calculate the present value
of those cash flows.Fair value of unlisted equity investments 非上市股本投資的公平值
The unlisted equity investments have been valued using a 非上市股本投資已根據財務報表附註
market-based valuation technique as detailed in note 37 to 37所詳述的市場基準估值技術進行估
the financial statements. For an unlisted equity investment of 值。就於二零二四年十二月三十一日倘US$271921000 as at 31 December 2024 where no recent 並無近期交易價格，的非上市股本投資deal price is available the Group determines the comparable 271921000美元而言，本集團釐定可資public companies (peers) and selects the price multiple. In 比較公眾公司（同業）並選擇價格倍數。
addition the Group makes estimates about the discount for 此外，本集團須就流動性不足及規模差illiquidity and size differences. Further details are included in 異的貼現作出估計。進一步詳情載於財notes 18 and 37 to the financial statements. 務報表附註18及附註37。344 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 345NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
3. SIGNIFICANT ACCOUNTING ESTIMATES 3. 重要會計估計及假設（續）
AND ASSUMPTIONS (continued)
Estimation uncertainty (continued) 估計不確定性（續）
Fair value of an investment property 投資物業公平值
In the absence of current prices in an active market for 倘類似物業於活躍市場中並無現行市
similar properties the Group considers information from the 價，則本集團會考慮貼現現金流量預測discounted cash flow projections. 資料。
Discounted cash flow projections based on reliable estimates 根據可靠的未來現金流量估算、任何現
of future cash flows supported by the terms of any existing 有租約及其他合約的年期及（如可能）外lease and other contracts and (when possible) by external 在證據（如於同一地點及狀況下，類似物evidence such as current market rents for similar properties in 業的現行市值租金），以及使用可反映現the same location and condition and using discount rates that 金流量金額及出現時間不明朗因素的現
reflect current market assessments of the uncertainty in the 時市場評估的貼現率計算而得出的貼現
amount and timing of the cash flows. 現金流量預測。
The carrying amount of the investment property as at 31 於二零二四年十二月三十一日，投資物December 2024 was US$164153000 (31 December 業的賬面值為164153000美元（二零二
2023: US$166643000). Further details including the key 三年十二月三十一日：166643000美assumptions used for fair value measurement and a sensitivity 元）。進一步詳情（包括公平值計量及敏analysis are given in note 14 to the financial statements. 感度分析所採用的主要假設）載於財務報表附註14。346 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 347NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
4. OPERATING SEGMENT INFORMATION 4. 經營分部資料
For management purposes the Group is organised into one 出於管理需要，本集團僅構組一個業務single business unit that includes primarily the manufacture 單元，主要包括製造及銷售半導體產and sale of semiconductor products. Management reviews the 品。管理層在作出分配資源的相關決策consolidated results when making decisions about allocating 及評估本集團表現時審核綜合業績。因resources and assessing the performance of the Group. 此，並無呈列分部分析。
Accordingly no segment analysis is presented.The principal assets employed by the Group are located 本集團使用的主要資產位於中國上海及
in Shanghai and Wuxi the PRC. Therefore no segment 無錫，故並無按非流動資產的地理位置information based on the geographical location of non-current 於年內呈列分部資料。
assets is presented for the year.Revenues are attributed to geographical areas based on the 地理區域應佔收入乃按客戶所在地劃
locations of customers. Revenues by geographical segment 分。年內按客戶所在地劃分的地區分部based on the locations of customers for the year are presented 收入呈列如下：
as follows:
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
China (including Hong Kong) 中國（包括香港） 1636528 1774178
North America 北美 187899 204882
Asia (excluding China and Japan) 亞洲（不包括中國及日本） 103410 149087
Europe 歐洲 69528 134760
Japan 日本 6628 23206
Total revenue 總收入 2003993 2286113
The Group is involved in the business of the manufacture 本集團從事製造及銷售半導體產品業
and sale of semiconductor products. Revenue from the sale 務。來自銷售半導體產品的收入於資產of semiconductor products is recognised at the point in time 的控制權轉移予客戶時（一般於交付半導when control of the asset is transferred to the customer 體產品時）（即達成履約責任時）確認。
generally on delivery of the semiconductor products where 一般信貸期為交付後30至45天。若干合the performance obligation is satisfied. The normal credit term 約須提前付款。
is 30 to 45 days upon delivery. Payment in advance is required
for some contracts.Information about major customers 有關主要客戶的資料
No revenue amounting to 10% or more of the Group’s revenue 截至二零二四年十二月三十一日止年度
was derived from sales to a single customer for the year ended 並無對單一客戶的銷售所得收入金額達31 December 2024 (31 December 2023: Nil). 本集團收入的10%或以上（二零二三年十二月三十一日：無）。346 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 347NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
5. REVENUE OTHER INCOME AND GAINS 5. 收入、其他收入及收益及其他
AND OTHER EXPENSES 費用
An analysis of revenue other income and gains and other 對收入、其他收入及收益及其他費用的
expenses is as follows: 分析如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Revenue from contracts with customers 客戶合約收入
Sale of goods 銷售貨品 2003993 2286113
Other income 其他收入
Gross rental income from investment 來自投資物業經營租賃的
property operating leases: 租金收入總額：
Fixed lease payments 固定租賃付款 14210 14259
Interest income 利息收入 101967 61345
Government subsidies 政府補貼 31814 66466
Others 其他 1081 2300
149072144370
Other expenses 其他費用
Foreign exchange loss net 外匯匯兌虧損淨額 33164 33055
Loss on disposal of items of property 出售物業、廠房及
plant and equipment 設備項目的虧損 192 206
Others 其他 39 405
3339533666
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Types of goods 貨品類型
Sale of semiconductor products and total 半導體產品的銷售和
revenue from contracts with customers 來自客戶合約的總收入 2003993 2286113
Timing of revenue recognition 收入確認時間
Goods transferred at a point in time 在某一時點轉讓的貨品及
and total revenue from contracts 來自客戶合約的總收入
with customers 2003993 2286113
The disaggregation of the Group’s revenue based on the 截至二零二四年十二月三十一日止年度，本geographical region for the year ended 31 December 2024 is 集團基於地區的收入分類載列於附註4。
given in note 4.348 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 349
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
6. (LOSS)/PROFIT BEFORE TAX 6. 稅前（虧損）╱溢利
The Group’s (loss)/profit before tax is arrived at after charging/ 本集團的稅前（虧損）╱溢利乃於扣除╱
(crediting): （計入）下列各項後達致：
20242023
二零二四年二零二三年
Notes US$’000 US$’000附註千美元千美元
Cost of inventories sold 已售存貨成本 1798865 1799017
Depreciation of property plant 物業、廠房及設備折舊
and equipment 13 533568 481664
Depreciation of right-of-use assets 使用權資產折舊 15 6303 6427
Amortisation of intangible assets 無形資產攤銷 16 15961 12348
Research and development costs 研發成本 228327 206522
Lease payments not included in the 未計入租賃負債計量的
measurement of lease liabilities 租賃付款 33(b) 2693 2383
Auditor’s remuneration 核數師薪酬 575 749Employee benefit expense 僱員福利開支（包括董事及(including directors’ and chief 最高行政人員的薪酬
executive’s remuneration （附註8））：
(note 8)):
Wages salaries and other benefits 工資、薪金及其他福利 291204 282762
Equity-settled share option expense 以權益結算的購股權開支 31 18 853
Pension scheme contributions 退休金計劃供款
(defined contribution scheme)* （定額供款計劃）* 37178 36909
328400320524
Impairment of items of property 物業、廠房及設備
plant and equipment 項目減值 13 – 2476
Impairment of trade receivables 貿易應收款項減值 21 91 1120
Write-down of inventories to 存貨撇減至可變現淨值
net realisable value 2935 45572
Changes in fair value of an 投資物業公平值變動
investment property 14 39 (103)
* There are no forfeited contributions that may be used by * 本集團作為僱主概無可能將沒收的供款
the Group as the employer to reduce the existing level of 用於降低現有的供款水平。
contributions.348 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 349
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
7. FINANCE COSTS 7. 財務費用
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Interest on bank borrowings 銀行借款利息 96052 99429
Interest on lease liabilities 租賃負債利息 1061 1068
Total 總計 97113 100497
8. DIRECTORS’ AND CHIEF EXECUTIVE’S 8. 董事及最高行政人員的薪酬
REMUNERATION
Directors’ and chief executive’s remuneration for the year 根據上市規則及香港公司條例第383(1)disclosed pursuant to the Listing Rules section 383(1)(a) (b) (a)、(b)、(c)及(f)節及公司（披露董事利(c) and (f) of the Hong Kong Companies Ordinance and Part 2 益資料）規例第2部披露的本年度董事及
of the Companies (Disclosure of Information about Benefits of 最高行政人員薪酬如下：
Directors) Regulation is as follows:
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Fees 袍金 210 216
Other emoluments: 其他酬金：
Performance related bonuses 與表現掛鈎的花紅 242 196
Salaries allowances and benefits in kind 薪酬、津貼及實物利益 194 196
Pension scheme contributions 退休金計劃供款 10 10
Equity-settled share option expense 以權益結算的購股權開支 5 28
Subtotal 小計 451 430
Total 費用及其他報酬總額 661 646
In prior years certain directors were granted share options in 於過往年度，若干董事根據本公司的購respect of their services to the Group under the share option 股權計劃因其向本集團提供的服務獲授
scheme of the Company further details of which are set out 購股權，其進一步詳情載於財務報表附in note 31 to the financial statements. The fair value of such 註31。相關購股權的公平值已按歸屬期options which has been recognised in the statement of profit 於損益表確認，並於授出日期釐定且於or loss over the vesting period was determined as at the date 本年度財務報表入賬的金額已計入前述
of grant and the amount included in the financial statements 董事及最高行政人員的薪酬披露中。
for the current year is included in the above directors’ and
chief executive’s remuneration disclosures.350 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 351
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
8. DIRECTORS’ AND CHIEF EXECUTIVE’S 8. 董事及最高行政人員的薪酬
REMUNERATION (continued) （續）
(a) Independent Non-Executive Directors (a) 獨立非執行董事
The fees paid to Independent Non-Executive Directors 年內向獨立非執行董事支付的袍金
during the year were as follows: 如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Mr. Stephen Tso Tung Chang 張祖同先生 70 72
Mr. Kwai Huen Wong JP 王桂壎先生，太平紳士 70 72Mr. Song Lin Feng (appointed on 28 封松林先生（於二零二四年March 2024) 三月二十八日獲委任） 35 –Mr. Long Fei Ye (resigned on 28 March 葉龍蜚先生（於二零二四年
2024)三月二十八日辭任）3572
Total 總計 210 216
There were no other emoluments payable to the 年內並無應付予獨立非執行董事的
Independent Non-Executive Directors during the year 其他酬金（二零二三年：無）。
(2023: Nil).350 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 351
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
8. DIRECTORS’ AND CHIEF EXECUTIVE’S 8. 董事及最高行政人員的薪酬
REMUNERATION (continued) （續）
(b) The chief executive (b) 最高行政人員
Salaries
allowances Performance Equity-settled Pension
and benefits related share option scheme Total
Fees in kind bonuses expense contributions remuneration
薪酬、津貼及與表現掛鈎以權益結算的退休金計劃袍金實物利益的花紅購股權開支供款薪酬總額
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元千美元千美元
2024二零二四年
Chief executive: 最高行政人員：
Mr. Junjun Tang 唐均君先生 – 196 242 5 10 451
Salaries
allowances Performance Equity-settled Pension
and benefits related share option scheme Total
Fees in kind bonuses expense contributions remuneration
薪酬、津貼及與表現掛鈎的以權益結算的退休金計劃袍金實物利益花紅購股權開支供款薪酬總額
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元千美元千美元
2023二零二三年
Chief executive: 最高行政人員：
Mr. Junjun Tang 唐均君先生 – 196 196 28 10 430
Save as disclosed above none of the directors received 除前述披露者外，概無董事於二零any emoluments during 2024 and 2023. 二四年及二零二三年收取任何薪酬。
There was no arrangement under which a director or 於年內，概無董事或最高行政人員the chief executive waived or agreed to waive any 作出安排放棄或同意放棄任何薪
remuneration during the year. 酬。352 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 353NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
9. FIVE HIGHEST PAID EMPLOYEES 9. 五名最高薪僱員The five highest paid employees during the year included one 年內，五名最高薪僱員包括一名董事（亦director who is also the chief executive (2023: one director 為最高行政人員）（二零二三年：一名董being also the chief executive) details of whose remuneration 事（亦為最高行政人員）），其薪酬詳情載are set out in note 8 above. Details of the remuneration for the 於上文附註8。年內，其餘四名（二零二year of the remaining four (2023: four) highest paid employees 三年：四名）並非本公司董事的最高薪僱
who are not directors of the Company are as follows: 員的薪酬詳情如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Salaries allowances and benefits in kind 薪酬、津貼及實物利益 1105 1163
Performance related bonuses 與表現掛鈎的花紅 430 336
Equity-settled share option expense 以權益結算的購股權開支 – 6
Pension scheme contributions 退休金計劃供款 19 29
Total 總計 1554 1534
The number of non-director and non-chief executive highest 薪酬屬於以下範疇的非董事及非最高行
paid employees whose remuneration fell within the following 政人員的最高薪僱員人數如下：
bands is as follows:
Number of employees僱員人數
20242023
二零二四年二零二三年
HK$2000001 to HK$2500000 2000001港元至2500000港元 1 1
HK$2500001 to HK$3000000 2500001港元至3000000港元 2 2
HK$4000001 to HK$4500000 4000001港元至4500000港元 1 1
Total 總計 4 4
In prior years share options were granted to four non-director 於過往年度，四名非董事及非最高行政and non-chief executive highest paid employees in respect 人員的最高薪僱員因其向本集團提供服
of their services to the Group further details of which 務獲授購股權，其進一步詳情於財務報are included in the disclosures in note 31 to the financial 表附註31披露。相關購股權的公平值已statements. The fair value of such options which has been 按歸屬期於損益表確認，並於授出日期recognised in the statement of profit or loss over the vesting 釐定且於本年度財務報表入賬的金額已
period was determined as at the date of grant and the amount 計入前述非董事及非最高行政人員的最
included in the financial statements for the current year is 高薪僱員的薪酬披露中。
included in the above non-director and non-chief executive
highest paid employees’ remuneration disclosures.352 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 353
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
10. INCOME TAX 10. 所得稅Profits arising in Hong Kong were subject to profits tax at the 於年內的香港溢利須按16.5%（二零二三rate of 16.5% during the year (2023: 16.5%). No provision for 年：16.5%）的稅率繳納利得稅。由於本Hong Kong profits tax has been made as the Company and 公司及一家在香港註冊成立的子公司於
a subsidiary incorporated in Hong Kong had no assessable 年內並無取得應評稅收入，故並無就香income during the year (2023: Nil). 港利得稅作出撥備（二零二三年：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 Company’s subsidiaries registered in the PRC and 所有本公司在中國註冊且僅在中國內地
only having operations in Mainland China are subject to PRC 營運的子公司，應就其根據相關中國所enterprise income tax on the taxable income as reported in 得稅法調整的中國法定賬目所呈報應課
their PRC statutory accounts adjusted in accordance with 稅收入按25%的法定稅率繳納中國企業
relevant PRC income tax laws based on a statutory rate of 所得稅。
25%.
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 the Group’s 機關批准，本集團子公司華虹宏力及華subsidiaries HHGrace and Hua Hong Wuxi are qualified as 虹無錫符合資格成為「高新技術企業」，“High and New Technology Enterprises” and are therefore 故有權於二零二三年至二零二五年期間
entitled to a preferential tax rate of 15% from 2023 to 2025. 按15%的優惠稅率繳稅。
Pursuant to the relevant laws and regulations in the PRC 根據中國相關法律及法規獲稅務主管機
and with the approval from the tax authorities in charge 關批准，本集團的子公司華虹無錫及華the Group’s subsidiaries Hua Hong Wuxi and Hua Hong 虹製造無錫可從華虹無錫及華虹製造無
Manufacturing Wuxi are entitled to an exemption from CIT for 錫產生應課稅溢利的第一年起五年獲豁
five years commencing from the first year that Hua Hong Wuxi 免繳納企業所得稅，及隨後五年內享受and Hua Hong Manufacturing Wuxi generate taxable profits 企業所得稅稅率減免50%的優惠。於二and a deduction of 50% on the CIT rate for the following five 零二四年十二月三十一日，華虹無錫及years. Hua Hong Wuxi and Hua Hong Manufacturing Wuxi 華虹製造無錫處於累計稅務虧損狀態，were in accumulated tax loss positions as at 31 December 且免稅期尚未開始。
2024 and the tax holiday has not yet begun.
The Company’s subsidiary incorporated and operating in 本公司在日本註冊成立及營運的子公司
Japan was subject to corporation tax at a rate of 33.58% 應按33.58%（二零二三年：33.58%）的
(2023:33.58%).企業稅率繳稅。
The Company’s subsidiary incorporated and operating in the 本公司在美國註冊成立及營運的子公司
United States was subject to federal corporation income tax 應於年內按21%（二零二三年：21%）的at a rate of 21% during the year (2023: 21%) as well as a 聯邦企業所得稅率及8.84%（二零二三California state tax at 8.84% (2023: 8.84%). 年：8.84%）的加利福尼亞州稅率繳稅。354 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 355NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
10. INCOME TAX (continued) 10. 所得稅（續）
The major components of income tax expense of the Group 本集團所得稅開支的主要組成部份如
are as follows: 下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Current income tax – PRC 當期所得稅－中國 27568 57969
Current income tax – elsewhere 當期所得稅－其他地區 15 43
Deferred tax (note 28) 遞延稅項（附註28） (20990) (10858)
Total 總計 6593 47154
A reconciliation of the tax (credit)/expense applicable to (loss)/ 按本公司及其大部份子公司註冊或經營
profit before tax at the statutory rate of 25% for the jurisdiction 所在司法權區的法定稅率25%計算的稅
in which the Company and the majority of its subsidiaries are 前（虧損）╱溢利的適用稅項開支，與按domiciled or operate to the tax expense at the effective tax 實際稅率計算的稅項（抵免）╱開支的對
rate is as follows: 賬如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
(Loss)/profit before tax 稅前（虧損）╱溢利 (133792) 173579
Tax at the statutory tax rate of 25% 按法定稅率25%計算的稅項 (33448) 43395
Effect of different tax rates for specific 特定省份及國家或地方當局
provinces and countries or enacted 頒佈的不同稅率的影響
by local authority (26456) (47962)
Adjustments in respect of current tax 就上一期間當期稅項的調整
of previous periods 121 (108)
Profits attributable to associates 聯營公司應佔溢利 (519) (1387)
Income not subject to tax 免稅收入 (1319) (1548)
Expenses not deductible for tax 不可扣稅開支 1600 1063
Tax losses not recognised due 因未來不大可能產生應課稅溢利
to improbable future taxable profits 而未確認的稅項虧損 144816 121483
Temporary differences not recognised 未確認暫時差額 1457 397
Additional deduction of research 研發成本其他扣減
and development costs (60216) (56503)
Effect of withholding tax at 10% 按本集團中國子公司可供分派溢利
(2023: 10%) on the distributable 以10%（二零二三年：10%）
profits of the Group’s PRC subsidiary 計算預扣稅影響 (19443) (11676)
Tax charge at the Group’s effective rate 按本集團實際稅率計算的稅項開支 6593 47154354 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 355
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
11. DIVIDEND 11. 股息
The proposed final dividend for the year is subject to the 本年度的建議末期股息須待本公司股東
approval of the Company’s shareholders at the forthcoming 於應屆股東週年大會上批准後方可作實。
annual general meeting.The Board did not recommend the payment of any dividend 董事會不建議派發截至二零二四年十二of the year ended 31 December 2024 (2023: HK$0.165 per 月三十一日止年度的任何股息（二零二三share equivalent to US$36233000). 年：每股0.165港元，相當於36233000美元）。
12. EARNINGS PER SHARE ATTRIBUTABLE 12. 母公司普通股權持有人應佔每
TO ORDINARY EQUITY HOLDERS OF THE 股盈利
PARENT
The calculation of the basic earnings per share amount is 每股基本盈利金額乃基於母公司普通
based on the profit for the year attributable to ordinary equity 股權持有人應佔年內溢利及於年內已holders of the parent and the weighted average number 發行1717346778股（二零二三年：of ordinary shares of 1717346778 (2023: 1477978482) 1477978482股）普通股的加權平均數
outstanding during the year. 計算。
The calculation of the diluted earnings per share amount 每股已攤薄盈利金額乃根據母公司普通
is based on the profit for the year attributable to ordinary 股權持有人應佔年內溢利計算。計算時equity holders of the parent. The weighted average number 採用之普通股加權平均數為計算每股基
of ordinary shares used in the calculation is the number 本盈利時採用之年內已發行普通股數目
of ordinary shares outstanding during the year as used in 加上假設所有潛在攤薄普通股被視為行
the basic earnings per share calculation and the weighted 使或兌換為普通股時以行使價發行之普
average number of ordinary shares assumed to have been 通股加權平均數。
issued at the exercise price on the deemed exercise or
conversion of all dilutive potential ordinary shares into ordinary
shares.356 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 357
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
12. EARNINGS PER SHARE ATTRIBUTABLE 12. 母公司普通股權持有人應佔每
TO ORDINARY EQUITY HOLDERS OF THE 股盈利（續）
PARENT (continued)
The calculations of basic and diluted earnings per share are 每股基本及攤薄盈利的計算乃基於：
based on:
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Earnings 盈利
Profit attributable to ordinary equity 母公司普通股權持有人應佔溢利
holders of the parent 58108 280034
Number of shares股份數目
20242023
二零二四年二零二三年
Shares 股份
Weighted average number of ordinary 用於計算每股基本盈利的年內
shares outstanding during the year 已發行普通股加權平均數
used in the basic earnings per
share calculation 1717346778 1477978482
Effect of dilution – weighted average 普通股攤薄加權平均數的影響：
number of ordinary shares:
Share options 購股權 3739068 8553472
Total 總計 1721085846 1486531954356 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 357
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
13. PROPERTY PLANT AND EQUIPMENT 13. 物業、廠房及設備
Plant and Office Motor Leasehold Construction
Buildings machinery equipment vehicles improvements in progress Total樓宇廠房及機器辦公設備汽車租賃物業裝修在建工程總計
US$’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
31 December 2024 二零二四年十二月三十一日
At 1 January 2024: 於二零二四年一月一日：
Cost 成本 423230 7138922 66032 1236 3901 765367 8398688
Accumulated depreciation 累計折舊及減值
and impairment (234985) (4574826) (49635) (887) (3860) (15203) (4879396)
Net carrying amount 賬面淨值 188245 2564096 16397 349 41 750164 3519292
At 1 January 2024 net of 於二零二四年一月一日，accumulated depreciation and 扣除累計折舊及減值
impairment 188245 2564096 16397 349 41 750164 3519292
Additions 添置 – – – – – 2977512 2977512
Transfers 轉撥 458007 1362517 8712 165 – (1829401) –
Offset by government grant 被政府補助抵銷 – (28386) – – – – (28386)
Disposal 處置 – (67) (148) – – – (215)
Depreciation provided during 年內計提折舊
the year (12715) (515928) (4779) (130) (16) – (533568)
Exchange realignment 匯兌調整 (7200) (45553) (276) (5) – (22484) (75518)
At 31 December 2024 net of 於二零二四年
accumulated depreciation and 十二月三十一日，impairment 扣除累計折舊及減值 626337 3336679 19906 379 25 1875791 5859117
At 31 December 2024: 於二零二四年十二月三十一日：
Cost 成本 870445 8352634 70042 1381 3844 1890771 11189117
Accumulated depreciation 累計折舊及減值
and impairment (244108) (5015955) (50136) (1002) (3819) (14980) (5330000)
Net carrying amount 賬面淨值 626337 3336679 19906 379 25 1875791 5859117358 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 359
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
13. PROPERTY PLANT AND EQUIPMENT 13. 物業、廠房及設備（續）
(continued)
For the year ended 31 December 2024 no items of the 截至二零二四年十二月三十一日止年Group’s machinery and office equipment (31 December 2023: 度，本集團並無機器及辦公設備項目（二US$2476000) were obsolete with a minimal recoverable 零二三年十二月三十一日：2476000美amount determined based on their fair value less costs of 元）過時，而根據彼等公平值減出售成本disposal and were therefore fully impaired. 確定的可收回金額極小，因而完全減值。
As at 31 December 2024 certain of the Group’s property plant 於二零二四年十二月三十一日，本集團and equipment with a net carrying value of US$2064974000 賬面淨值為2064974000美元（二零二
(31 December 2023: US$1487211000) were pledged to 三年十二月三十一日：1487211000美banks to secure the Group’s banking facilities (note 26). 元）的若干物業、廠房及設備已抵押予銀
行以取得本集團的銀行融資（附註26）。
As management concluded there are impairment indicators for 誠如管理層認為，於二零二四年十二月long-term assets of Hua Hong Wuxi as at 31 December 2024. 三十一日，華虹無錫長期資產存在減值Therefore an impairment assessment was performed for the 跡象。因此，對截至二零二四年十二月year ended 31 December 2024. The impairment test is based 三十一日止年度進行了減值評估。減值on the recoverable amount of the CGU to which the long-term 測試以分配長期資產的現金產生單位的
assets is allocated. The key assumptions that management 可收回金額為基礎。管理層於評估中使used in the valuation are as follows: 用的主要假設如下：
Carrying Recoverable Impairment Years of the Key assumptions for the
amount amount amount forecast period forecast period賬面值可收回金額減值金額預測期年份預測期的主要假設
US$’000 US$’000 US$’000千美元千美元千美元
Hua Hong Wuxi 華虹無錫 2463824 2602158 – 5 years based on Discount rate: 14.0%;
the forecast and revenue
2.5 years based on growth rate: 3.7%-17.1%;
stable growth rates gross profit margin:
按預測計為5年及(3.7)%-54.6%;
按穩定增長率計 net profit margin:
為2.5年(14.5)%-45.1%
貼現率：14.0%；收入增
長率：3.7%至17.1%；毛
利率：(3.7)%至54.6%；
淨利率：(14.5)%至45.1%358 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 359
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
14. INVESTMENT PROPERTY 14. 投資物業
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Carrying amount at 1 January 於一月一日的賬面值 166643 169363
Net gain from a fair value adjustment 公平值調整的收益淨額 (39) 103
Exchange realignment 匯兌調整 (2451) (2823)
Carrying amount at 31 December 於十二月三十一日的賬面值 164153 166643
The Group’s investment property is situated in Shanghai 本集團的投資物業位於中國上海。董事the PRC. The directors have determined that the investment 已基於物業的性質、特點及風險釐定投
property is an industrial property based on the nature 資物業為工業物業。
characteristics and risks of the property.The Group’s investment property was revalued on 31 於二零二四年十二月三十一日，本集團December 2024 based on valuation performed by Jones 的投資物業已根據一家具專業資格的獨
Lang LaSalle Corporate Appraisal and Advisory Limited an 立估值師仲量聯行企業評估及咨詢有限
independent professionally qualified valuer on an open market 公司按公開市值進行了重估。該估值基value basis. The valuation is based on capitalisation of income 於現有租約收入的資本化，並考慮了物derived from the existing tenancy with allowance for the 業的潛在可復歸收入。
reversionary income potential of the property.Every year the Group’s property manager and the chief 每年，本集團的物業經理及財務總監決financial officer decide to appoint which external valuer to 定委任外聘估值師負責本集團物業的外
be responsible for the external valuations of the Group’s 部估值。選聘標準包括對市場的了解、properties. Selection criteria include market knowledge 聲譽、獨立性及是否具備專業水準。本reputation independence and whether professional standards 集團的物業經理及財務總監每年就年度
are maintained. The Group’s property manager and the 財務報告進行估值時，會與估值師就估chief financial officer have discussions with the valuer on the 值假設及估值結果進行討論。
valuation assumptions and valuation results annually when the
valuation is performed for annual financial reporting.The investment property is leased to a related party under an 投資物業根據經營租約出租予關聯方（附operating lease (note 33 and note 35(b)). 註33和附註35(b)）。360 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 361NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
14. INVESTMENT PROPERTY (continued) 14. 投資物業（續）
Fair value hierarchy 公平值層級
The recurring fair value measurement for the Group’s 本集團投資物業（為工業物業）於二零二
investment property which is an industrial property was 四年及二零二三年十二月三十一日的週
made using significant unobservable inputs (Level 3) as at 期公平值計量乃使用重大不可觀察輸入
31 December 2024 and 2023. During the year there were 數據（第3級）作出。於年內，第1級與第
no transfers of fair value measurements between Level 1 and 2級間並無公平值計量轉移，且第3級並Level 2 and no transfers into or out of Level 3 (2023: Nil). 無轉入或轉出（二零二三年：無）。
Below is a summary of the valuation techniques used and the 下文為投資物業估值所用估值技術及主
key inputs to the valuation of the investment property: 要輸入數據概要：
Significant unobservable Weighted
Industrial property Valuation techniques inputs average工業物業估值技術重大不可觀察輸入數據加權平均
As at 31 December 2024 Term and reversion method Estimated rental value US$12.7
(per sq.m. per month) (equivalent to
RMB91.50)
於二零二四年十二月三十一日年期及復歸法估計租賃價值（每平方米每月）12.7美元
（相當於人民幣91.50元）
Term yield 6.25%年期回報率
Reversionary yield 6.75%復歸回報率
Long term vacancy rate 10.00%長期空置率
As at 31 December 2023 Term and reversion method Estimated rental value US$13.1
(per sq.m. per month) (equivalent to
RMB92.00)
於二零二三年十二月三十一日年期及復歸法估計租賃價值（每平方米每月）13.1美元
（相當於人民幣92.00元）
Term yield 6.75%年期回報率
Reversionary yield 7.25%復歸回報率
Long term vacancy rate 10.00%
長期空置率360 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 361
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
14. INVESTMENT PROPERTY (continued) 14. 投資物業（續）
Fair value hierarchy (continued) 公平值層級（續）
Under the term and reversion method fair value is measured 根據年期及復歸法，公平值乃經計及現by taking into account the rental income derived from the 有租約產生的租金收入，並適當納入租existing lease with due allowance for the reversionary income 約的潛在可復歸收入，其後按適當資本potential of the lease which is then capitalised into the value 化率折算為價值而達致。
at appropriate rates.The term value was estimated based on the existing rent the 定期價值乃根據租賃協議所訂明的現有
tenancy period as stated in the lease agreement and the yield 租金、租期及年期內（租期）回報率估
during the term period (tenancy period). The reversionary 計。復歸價值乃根據市值租金、市場回value was estimated based on the market rents the market 報率及復歸期估計。
yield and the reversionary periods.A significant increase/(decrease) in the estimated rental value 估計租賃價值及市場租金年增長率單獨
and the market rent growth rate per annum in isolation would 大幅上升╱（下降）將導致投資物業的公
result in a significant increase/(decrease) in the fair value of 平值大幅增加╱（減少）。長期空置率及the investment property. A significant increase/(decrease) in 貼現率單獨大幅上升╱（下降）將導致投
the long-term vacancy rate and the discount rate in isolation 資物業的公平值大幅減少╱（增加）。一would result in a significant decrease/(increase) in the 般而言，就估計租賃價值作出的假設變fair value of the investment property. Generally a change 動同時，租金年增長率及貼現率出現同in the assumption made for the estimated rental value is 向變動，而長期空置率出現反向變動。
accompanied by a directionally similar change in the rent
growth per annum and the discount rate and an opposite
change in the long-term vacancy rate.362 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 363
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
15. RIGHT-OF-USE ASSETS 15. 使用權資產
2024二零二四年
Land use
rights Buildings Total土地使用權樓宇總計
US$’000 US$’000 US$’000千美元千美元千美元
At 1 January 2024 net of 於二零二四年一月一日，accumulated depreciation 扣除累計折舊 59591 18954 78545
Additions 添置 936 5745 6681
Depreciation provided during 年內計提折舊
the year (1722) (4581) (6303)
Exchange realignment 匯兌調整 (866) (296) (1162)
At 31 December 2024 於二零二四年十二月三十一日 57939 19822 77761
2023二零二三年
Land use
rights Buildings Total土地使用權樓宇總計
US$’000 US$’000 US$’000千美元千美元千美元
At 1 January 2023 net of 於二零二三年一月一日，accumulated depreciation 扣除累計折舊 62262 16163 78425
Additions 添置 – 7862 7862
Depreciation provided during 年內計提折舊
the year (1641) (4786) (6427)
Exchange realignment 匯兌調整 (1030) (285) (1315)
At 31 December 2023 於二零二三年十二月三十一日 59591 18954 78545
As at 31 December 2024 certain of the Group’s land use 於二零二四年十二月三十一日，本集團rights with a carrying value of US$47069000 as at 31 於二零二四年十二月三十一日賬面值為December 2024 (31 December 2023: US$44319000) were 47069000美元（二零二三年十二月三pledged to banks to secure the Group’s banking facilities (note 十一日：44319000美元）的若干土地
26).使用權已抵押予銀行以取得本集團的銀
行融資（附註26）。362 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 363NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
16. INTANGIBLE ASSETS 16. 無形資產
Process
technology
licence Software Total工藝技術許可軟件總計
US$’000 US$’000 US$’000千美元千美元千美元
31 December 2024 二零二四年十二月三十一日
At 1 January 2024: 於二零二四年一月一日：
Cost 成本 283354 157237 440591
Accumulated amortisation 累計攤銷及減值
and impairment (259547) (131217) (390764)
Net carrying amount 賬面淨值 23807 26020 49827
At 1 January 2024 net of 於二零二四年一月一日，accumulated amortisation 扣除累計攤銷及減值
and impairment 23807 26020 49827
Additions 添置 – 4972 4972
Offset by government grants 被政府補助抵銷 (6844) – (6844)
Amortisation provided during 年內作出攤銷
the year (7215) (8746) (15961)
Exchange realignment 匯兌調整 (193) (345) (538)
At 31 December 2024 net of 於二零二四年十二月三十一日，accumulated amortisation 扣除累計攤銷及減值
and impairment 9555 21901 31456
At 31 December 2024: 於二零二四年十二月三十一日：
Cost 成本 272416 159844 432260
Accumulated amortisation 累計攤銷及減值
and impairment (262861) (137943) (400804)
Net carrying amount 賬面淨值 9555 21901 31456364 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 365
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
16. INTANGIBLE ASSETS (continued) 16. 無形資產（續）
Process
technology
licence Software Total工藝技術許可軟件總計
US$’000 US$’000 US$’000千美元千美元千美元
31 December 2023 二零二三年十二月三十一日
At 1 January 2023: 於二零二三年一月一日：
Cost 成本 270734 147145 417879
Accumulated amortisation 累計攤銷及減值
and impairment (259246) (125647) (384893)
Net carrying amount 賬面淨值 11488 21498 32986
At 1 January 2023 net of 於二零二三年一月一日，accumulated amortisation 扣除累計攤銷及減值
and impairment 11488 21498 32986
Additions 添置 17112 12641 29753
Offset by government grants 被政府補助抵銷 – (35) (35)
Amortisation provided during 年內作出攤銷
the year (4646) (7702) (12348)
Exchange realignment 匯兌調整 (147) (382) (529)
At 31 December 2023 net of 於二零二三年十二月三十一日，accumulated amortisation 扣除累計攤銷及減值
and impairment 23807 26020 49827
At 31 December 2023: 於二零二三年十二月三十一日：
Cost 成本 283354 157237 440591
Accumulated amortisation 累計攤銷及減值
and impairment (259547) (131217) (390764)
Net carrying amount 賬面淨值 23807 26020 49827
As management concluded there are impairment indicators for 誠如管理層認為，於二零二四年十二月long-term assets of Hua Hong Wuxi as at 31 December 2024. 三十一日，華虹無錫的長期資產存在減Therefore an impairment assessment was performed for the 值跡象。因此，對截至二零二四年十二year ended 31 December 2024. The impairment test is based 月三十一日止年度進行了減值評估。減on the recoverable amounts of the CGU to which the long-term 值測試以分配長期資產的現金產生單位
assets is allocated. The key assumptions that management 的可收回金額為基礎。管理層於評估中used in the valuation can be found in note 13. 使用的主要假設參閱附註13。364 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 365NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
17. INVESTMENTS IN ASSOCIATES 17. 於聯營公司的投資
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Carrying amount 賬面值 139799 139099
Particulars of the material associate are as follows: 主要聯營公司詳情如下：
Percentage Percentage
of equity of voting
Place of Paid-in interest power
registration and capital attributable held by
Name of company business 實繳股本 to the Group the Group Principal activities
RMB’000 本集團應佔 本集團所持公司名稱登記及營業地點人民幣千元股權百分比投票權百分比主要業務
Shanghai Huahong Technology PRC/Mainland 548000 50% 40% Technology
Development Co. Ltd. China development and(“Huahong Technology 中國╱中國內地 investmentDevelopment”) 科技開發及投資上海華虹科技發展有限公司（「華虹科技發展」）
Shanghai Huahong Investment PRC/Mainland 480000 20% 20% Investment
Development Co. Ltd China 投資(“Huahong Investment 中國╱中國內地Development”)上海華虹投資發展有限公司（「華虹投資發展」）
The Group’s voting power held and profit sharing arrangement 本集團有關華虹科技發展持有的投票權
in relation to Huahong Technology Development are 40% and 及溢利分配安排分別為40%及50%。
50% respectively.
The Group’s shareholdings in the associates are held through 本集團透過本公司的全資子公司持有該
a wholly-owned subsidiary of the Company. 聯營公司的股權。366 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 367NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
17. INVESTMENTS IN ASSOCIATES (continued) 17. 於聯營公司的投資（續）
The following table illustrates the summarised financial 下表概述華虹科技發展及華虹投資發展
information of Huahong Technology Development and 的財務資料：
Huahong Investment Development:
Huahong Technology Huahong Investment
Development Development華虹科技發展華虹投資發展
31 December 31 December 31 December 31 December
2024202320242023
二零二四年二零二三年二零二四年二零二三年十二月三十一日十二月三十一日十二月三十一日十二月三十一日
US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元
Current assets 流動資產 15495 24581 8847 8917
Non-current assets 非流動資產 313339 295158 89635 115646
Current liabilities 流動負債 (62126) (63265) (348) (169)
Non-current liabilities 非流動負債 (23714) (22763) (6625) (13177)
Net assets 淨資產 242994 233711 91509 111217
Reconciliation to the 本集團於聯營公司
Group’s interest 的權益對賬：
in the associate:
Proportion of the 本集團於聯營公司
Group’s interest 的權益比例
in the associate 50% 50% 20% 20%
Carrying amount of 投資賬面值
the investment 121497 116856 18302 22243
Huahong Technology Huahong Investment
Development Development華虹科技發展華虹投資發展
31 December 31 December 31 December 31 December
2024202320242023
二零二四年二零二三年二零二四年二零二三年十二月三十一日十二月三十一日十二月三十一日十二月三十一日
US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元
Revenue 收入 26610 51500 804 811
Profit/(loss) for the 年內溢利（虧損）╱
year 12848 13341 (14825) 12797
Other comprehensive 其他全面（虧損）╱
(loss)/income 收益 – – (3315) 6760
Total comprehensive 年內全面收益╱
income/(loss) （虧損）總額
for the year 12848 13341 (18140) 19557366 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 367
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
18. FINANCIAL INVESTMENTS 18. 金融投資
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Equity investments designated at fair value 指定為按公平值計入
through other comprehensive income: 其他全面收益的股本投資：
Listed equity investments 上市股本投資 – 2429
Unlisted equity investments 非上市股本投資 289311 268077
Total 總計 289311 270506
Equity investments designated at fair value through other 指定為按公平值計入其他全面收益的股
comprehensive income primarily including an unlisted equity 本投資主要包括賬面值為269139000美investment in Shanghai Huali Microelectronics Co. Ltd. 元的上海華力微電子有限公司（「上海華(“Shanghai Huali”) with a carrying amount of US$269139000 力」）的非上市股本投資，而本集團認為were irrevocably designated at fair value through other 該等投資不可撤回地指定為按公平值計
comprehensive income as the Group considers the investment 入其他全面收益，乃由於該等投資屬策to be strategic in nature. 略性質。
19. PROPERTIES UNDER DEVELOPMENT 19. 發展中物業
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Carrying amount at 1 January 於一月一日的賬面值 178828 134723
Additions 添置 43077 44105
As at 31 December 於十二月三十一日 221905 178828
The Group’s properties under development are recognised in 本集團發展中物業於中國內地租賃土地
leasehold land situated in Mainland China. 內確認。
As at 31 December 2024 the Group’s properties under 於二零二四年十二月三十一日，本集development with an aggregate carrying amount of 團發展中物業賬面總值約90275000approximately US$90275000 (31 December 2023: 美元（二零二三年十二月三十一日：US$86565000) were pledged to secure bank and other 86565000美元）已抵押以換取授予本
borrowings granted to the Group (note 26). 集團銀行及其他借款（附註26）。368 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 369NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
20. INVENTORIES 20. 存貨
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Raw materials 原材料 256417 261359
Work in progress 在製品 214623 149321
Finished goods 製成品 70696 111912
541736522592
Provision for inventories 存貨撥備 (74676) (72843)
Total 總計 467060 449749
21. TRADE AND NOTES RECEIVABLES 21. 貿易應收款項及應收票據
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Trade receivables 貿易應收款項 225682 214414
Notes receivables 應收票據 47535 66951
273217281365
Impairment of trade receivables 貿易應收款項減值 (2756) (2696)
Net carry amount 賬面淨值 270461 278669
The Group’s trading terms with its customers are mainly 本集團與其客戶的貿易賬期以信貸為
on credit and the credit period is generally 30 to 150 days. 主，信貸期一般為30至150天。本集團There is no significant concentration of credit risk. The Group 並無重大集中信貸風險。本集團並無就does not hold any collateral or other credit enhancements 其貿易應收款項餘額持有任何抵押品或
over its trade receivable balances. Trade receivables are 採取其他信貸提升措施。貿易應收款項non-interest-bearing. 為免息。
An ageing analysis of the trade and bills receivables based 按發票日期計，貿易應收款項及應收票on the invoice date and net of loss allowance is as follows: 據（扣除虧損撥備）的賬齡分析如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Within 3 months 3個月以內 229151 232485
3 to 6 months 3至6個月 33918 43762
Over 6 months but within one year 超過六個月但於一年內 7392 2422
Total 總計 270461 278669368 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 369
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
21. TRADE AND NOTES RECEIVABLES 21. 貿易應收款項及應收票據（續）
(continued)
The movements in loss allowance for impairment of trade and 貿易應收款項及應收票據減值虧損撥備
bills receivables are as follows: 的變動如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
At 1 January 於一月一日 2696 1591
Impairment losses net (note 6) 減值虧損淨額（附註6） 91 1120
Exchange realignment 匯兌調整 (31) (15)
As at 31 December 於十二月三十一日 2756 2696
The Group applies a simplified approach in calculating ECLs 本集團採用香港財務報告準則第9號訂
prescribed by HKFRS 9 which permits the use of the lifetime 明計算預期信貸虧損之簡化方法，該準expected loss for all trade and notes receivables. To measure 則允許就所有貿易應收款項及應收票據
the expected credit losses trade and notes receivables have 採用整個存續期的預期虧損。為計量預been grouped based on shared credit risk characteristics 期信貸虧損，貿易應收款項及應收票據and the days past due. The expected credit losses have also 已根據共同信貸風險特性及逾期天數進
incorporated forward-looking information. The expected credit 行分組。預期信貸虧損亦包含前瞻性資loss rates for trade and notes receivables that were not yet 料。尚未逾期或賬齡為3個月以內的貿易past due or aged within 3 months are minimal. 應收款項及應收票據的預期信貸損失率極低。
An impairment analysis is performed at each reporting date 於各報告日期採用撥備矩陣進行減值分
using a provision matrix to measure expected credit losses. 析，以計量預期信貸虧損。撥備率乃基The provision rates are based on days past due for groupings 於具有類似虧損模式的多個客戶分部組of various customer segments with similar loss patterns (i.e. 別（即按地區、產品類型、客戶類型及評by geographical region product type customer type and 級、以及信用證或其他形式的信用保險rating and coverage by letters of credit or other forms of credit 承保範圍劃分）的逾期天數釐定。該計算insurance). The calculation reflects the probability-weighted 反映概率加權結果、貨幣時值及於報告
outcome the time value of money and reasonable and 日期可得的有關過往事項、當前狀況及
supportable information that is available at the reporting date 未來經濟條件預測的合理及可靠資料。
about past events current conditions and forecasts of future 一般而言，倘貿易應收款項逾期超過一economic conditions. Generally trade receivables are written 年及毋須受限於強制執行活動，則予以off if past due for more than one year and are not subject to 撇銷。
enforcement activity.Set out below is the information about the credit risk exposure 下文載列本集團使用撥備矩陣計算的貿
on the Group’s trade receivables using a provision matrix: 易應收款項信用風險敞口的資料：370 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 371
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
21. TRADE AND NOTES RECEIVABLES 21. 貿易應收款項及應收票據（續）
(continued)
The credit quality of the trade and bills receivables is as 貿易應收款項及應收票據的信貸質量如
follows: 下：
As at 31 December 2024 於二零二四年十二月三十一日
Past due逾期
Less than 3 to 6 Over 6
Current 3 months months months Total即期少於3個月3至6個月6個月以上總計
Expected credit 預期信貸虧損率
loss rate 0.06% 1.52% 27.80% 100.00% 1.01%
Gross carrying 賬面總值（千美元）
amount (US$’000) 248688 19874 3273 1382 273217
Expected credit 預期信貸虧損
losses (US$’000) （千美元） 161 303 910 1382 2756
As at 31 December 2023 於二零二三年十二月三十一日
Past due逾期
Less than 3 to 6 Over 6
Current 3 months months months Total即期少於3個月3至6個月6個月以上合計
Expected credit 預期信貸虧損率
loss rate 0.06% 1.45% 28.57% 100.00% 0.96%
Gross carrying 賬面總值（千美元）
amount (US$’000) 273399 5505 14 2447 281365
Expected credit 預期信貸虧損
losses (US$’000) （千美元） 165 80 4 2447 2696370 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 371
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
22. PREPAYMENTS OTHER RECEIVABLES 22. 預付款項、其他應收款項及其
AND OTHER ASSETS 他資產
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Other receivables 其他應收款項 33825 12520
Prepayments and other assets 預付款項及其他資產 12361 11393
Value-added input tax 增值稅進項稅額 318690 10796
36487634709
Impairment of other receivables 其他應收款項減值 (879) (888)
Total 總計 363997 33821
Other receivables are repayable on demand. 其他應收款項須按要求償還。
The movements in the loss allowance for impairment of other 其他應收款項減值撥備虧損的變動如
receivables are as follows: 下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
At 1 January 於一月一日 888 899
Exchange realignment 匯兌調整 (9) (11)
As at 31 December 於十二月三十一日 879 888
The Group applies a general approach in calculating ECLs for 本集團採用一般方法計算其他應收款項
other receivables. Other receivables related to debtors that 的預期信貸虧損。與違約債務人相關的are in default are classified as Stage 3 and the lifetime ECL 其他應收款項歸類為第三階段，根據歷rate was estimated to be 100% based on historical credit loss 史信貸虧損經驗估計全期預期信貸虧損
experience resulting in an impairment balance of US$879000 率為100%，因此減值結餘為879000美
(2023: US$888000). The remaining other receivables are 元（二零二三年：888000美元）。其餘
classified as Stage 1 without any significant increase in credit 其他應收款項歸類為第一階段，自初步risk tracked since initial recognition. Their recoverability was 確認後追蹤的信貸風險並無任何重大增
assessed with reference to the credit status of the debtors 加。其可收回性參照債務人的信用狀況and the expected credit losses as at 31 December 2024 and 評定，而於二零二四年及二零二三年十
2023 were considered to be insignificant. 二月三十一日的預期信貸虧損被視為不重大。372 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 373NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
23. CASH AND CASH EQUIVALENTS AND 23. 現金及現金等價物以及已抵押
PLEDGED DEPOSITS 存款
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Cash and bank balances 現金及銀行結餘 2749279 4638292
Time deposits 定期存款 1741477 978977
Subtotal 小計 4490756 5617269
Less: 減：
Pledged deposits 已抵押存款 (31591) (32061)
Others 其他 (33) (27)
Cash and cash equivalents 現金及現金等價物 4459132 5585181
At the end of the reporting period the cash and bank 於報告期末，本集團的現金及銀行結餘balances and time deposits of the Group denominated in 以及定期存款乃以人民幣（「人民幣」）Renminbi (“RMB”) amounted to US$3786750000 (2023: 計值，為3786750000美元（二零二三US$4849390000). The RMB is not freely convertible 年：4849390000美元）。人民幣不可into other currencies however under Mainland China’s 自由兌換為其他貨幣。然而，根據中國Foreign Exchange Control Regulations and Administration 內地的《外匯管理條例》及《結匯、售匯of Settlement and Sale and Payment of Foreign Exchange 及付匯管理規定》，本集團獲准透過獲授Regulations the Group is permitted to exchange RMB for 權開展外匯業務的銀行將人民幣兌換為
other currencies through banks authorised to conduct foreign 其他貨幣。
exchange business.Cash at banks earns interest at floating rates based on daily 銀行現金乃根據每日銀行存款利率按浮
bank deposit rates. Short term time deposits are made for 動利率計息。短期的定期存款乃視乎本varying periods of between seven days and three months 集團的即時現金需求為期七天至三個月
depending on the immediate cash requirements of the Group 不等，按各短期定期存款的利率賺取利and earn interest at the respective short term time deposit 息。銀行結餘乃存放於信譽良好且近期rates. The bank balances are deposited with creditworthy 並無違約記錄的銀行。
banks with no recent history of default.372 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 373
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
24. TRADE PAYABLES 24. 貿易應付款項
An ageing analysis of the trade payables of the Group as at 於報告期末按發票日期計，本集團貿易the end of the reporting period based on the invoice date is 應付款項的賬齡分析如下：
as follows:
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Within 1 month 1個月以內 151190 149116
1 to 3 months 1至3個月 70474 42579
3 to 6 months 3至6個月 16758 16166
6 to 12 months 6至12個月 22776 11158
Over 12 months 12個月以上 37174 16391
Total 總計 298372 235410
The trade payables are unsecured non-interest-bearing and 貿易應付款項為無抵押、不計息及一般
are normally settled on terms of 30 to 60 days. 於30天至60天期限內結清。
25. OTHER PAYABLES AND ACCRUALS 25. 其他應付款項及暫估費用
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Other payables and accruals 其他應付款項及暫估費用 690101 251248
Contract liabilities 合約負債 107631 86545
Payroll and bonus payables 應付薪金及花紅 82682 92658
Others 其他 33 27
Total 總計 880447 430478
Other payables are unsecured non-interest-bearing and 其他應付款項無抵押、免息及須於要求
repayable on demand. 時償還。
As at 1 January 2023 the carrying amount of contract liability 於二零二三年一月一日，合約負債的賬was US$192588000. 面值為192588000美元。
During the year ended 31 December 2024 contract liabilities 截至二零二四年十二月三十一日止年of US$86545000 (2023: US$192588000) at the beginning of 度，年初86545000美元（二零二三the year were recognised as revenue. The increase in contract 年：192588000美元）的合約負債被確
liabilities in 2024 was mainly due to the increase in short-term 認為收入。於二零二四年的合約負債增advances received from customers in relation to the sale of 加主要是由於與銷售半導體產品有關的
semiconductor products. 客戶短期墊款增加。374 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 375NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
26. INTEREST-BEARING BANK BORROWINGS 26. 計息銀行借款
2024
二零二四年
Effective
interest rate
(%) Maturity US$’000
實際利率(%)到期千美元
Current 流動
Current portion of long-term 長期銀行貸款的即期 1.20 – 6.40 2025 280704
bank loans – secured 部份－有抵押 1.20至6.40 二零二五年
Total – current 總計－流動 280704
Non-current 非流動
Secured bank loans 有抵押銀行貸款 1.20 – 6.40 2026-2033 1696011
1.20至6.40二零二六年－二零三三年
Unsecured bank loans 無抵押銀行貸款 2.00 – 2.51 2026-2033 221224
2.00至2.51二零二六年－二零三三年
Total – non-current 總計－非流動 1917235
Total 總計 2197939
2023
二零二三年
Effective
interest rate
(%) Maturity US$’000
實際利率(%)到期千美元
Current 流動
Current portion of long-term 長期銀行貸款的即期 1.20 - 5.50 2024 193035
bank loans – secured 部份－有抵押 1.20至5.50 二零二四年
Total – current 總計－流動 193035
Non-current 非流動
Secured bank loans 有抵押銀行貸款 1.20 - 5.50 2025-2033 1786526
1.20至5.50二零二五年－二零三三年
Unsecured bank loans 無抵押銀行貸款 2.00 2025-2033 120000
2.00二零二五年－二零三三年
Total – non-current 總計－非流動 1906526
Total 總計 2099561374 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 375
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
26. INTEREST-BEARING BANK BORROWINGS 26. 計息銀行借款（續）
(continued)
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Analysed into: 分析為：
Bank loans repayable: 應償還銀行貸款：
Within one year 一年內 280704 193035
In the second year 第二年 420860 266809
In the third to fifth years inclusive 第三至第五年（包括首尾兩年）1041487989585
After five years 五年後 454888 650132
Total 總計 2197939 2099561Except for bank loans of US$697271000 (2023: 除697271000美元（二零二三年：US$446551000) which are denominated in RMB all 446551000美元）的銀行貸款以人民幣
borrowings are dominated in United States dollars. 計值外，所有借款均以美元計值。
As at 31 December 2024 and 2023 certain of the Group’s 於二零二四年及二零二三年十二月三十
bank loans were secured by pledges of the Group’s assets 一日，本集團的若干銀行貸款由抵押本with carrying values as follows: 集團的資產作擔保，資產的賬面值如下：
20242023
二零二四年二零二三年
Notes US$’000 US$’000附註千美元千美元
Property plant and equipment 物業、廠房及設備 13 2064974 1487211
Right-of-use assets 使用權資產 15 47069 44319
Properties under development 發展中物業 19 90275 86565
Total 總計 2202318 1618095376 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 377
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
27. LEASE LIABILITIES 27. 租賃負債
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Carrying amount at 1 January 於一月一日的賬面值 22205 19348
Additions 添置 5745 7862
Accretion of interest 利息增加 1061 1068
Payments 付款 (5694) (5674)
Exchange realignment 匯兌調整 (337) (399)
Carrying amount at 31 December 於十二月三十一日的賬面值 22980 22205
The maturity profile of lease liabilities as at 31 December 2024 租賃負債於二零二四年十二月三十一日
is as follows: 的到期情況如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Within one year 一年內 5828 3981
In the second year 第二年 3465 2554
In the third to fifth years inclusive 第三至第五年（包括首尾兩年） 7550 7663
After five years 五年後 10066 12771
Total undiscounted lease liabilities 未貼現租賃負債總額 26909 26969
Discount amount 貼現額 (3929) (4764)
Total present value of lease liabilities 租賃負債的總現值 22980 22205
Current portion 即期部分 4912 3076
Non-current portion 非即期部分 18068 19129
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Analysed into: 分析為：
Within one year 一年內 4912 3076
In the second year 第二年 2737 1742
In the third to fifth years inclusive 第三至第五年（包括首尾兩年） 5948 5755
After five years 五年後 9383 11632
Total present value of lease liabilities 租賃負債的總現值 22980 22205376 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 377
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
28. DEFERRED TAX 28. 遞延稅項
The movements in deferred tax liabilities and assets during the 年內遞延稅項負債及資產的變動如下：
year are as follows:
Deferred tax liabilities 遞延稅項負債
Difference of
fixed
Fair value Fair value gain assets between
gains on on an accounting Right-
financial investment Withholding and tax of use
investments property tax basis assets Total金融投資的投資物業的固定資產稅使用權公平值收益公平值收益預扣稅會差異資產總計
US$’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
At 1 January 2023 於二零二三年一月一日 – 590 41268 3621 2424 47903
Deferred tax charged/(credited) to 年內扣自╱（計入）損益的
profit or loss during the year 遞延稅項（附註10）
(note 10) – 16 (11676) (565) 461 (11764)
Deferred tax charged to other 年內扣自其他全面收益的
comprehensive income during 遞延稅項
the year 10749 – – – – 10749
Exchange realignment 匯兌調整 (335) (10) – (65) (42) (452)
Gross deferred tax liabilities 於二零二三年十二月三十一日
as at 31 December 2023 遞延稅項負債總額 10414 596 29592 2991 2843 46436
At 1 January 2024 於二零二四年一月一日 10414 596 29592 2991 2843 46436
Deferred tax (credited)/charged to 年內（計入）╱扣自損益的
profit or loss during the year 遞延稅項（附註10）
(note 10) – (6) (19443) (685) 175 (19959)
Deferred tax charged to other 年內扣自其他全面收益的
comprehensive income during 遞延稅項
the year 1199 – – – – 1199
Exchange realignment 匯兌調整 (257) (9) – (37) (45) (348)
Gross deferred tax liabilities 於二零二四年十二月三十一日
as at 31 December 2024 遞延稅項負債總額 11356 581 10149 2269 2973 27328378 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 379
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
28. DEFERRED TAX (continued) 28. 遞延稅項（續）
The Group is liable for withholding taxes on dividends 本集團須就於中國內地成立的該等子公
distributed by those subsidiaries established in Mainland 司自二零零八年一月一日起產生的盈利
China in respect of earnings generated from 1 January 2008. 所分派的股息繳納預扣稅。倘中國內地A lower withholding tax rate may be applied if there is a tax 與外國投資者所屬司法權區間訂有稅務
treaty between Mainland China and the jurisdiction of the 協定，可能適用較低的預扣稅率。
foreign investors.There are no income tax consequences attaching to the 本公司向其股東派付股息並無附帶任何
payment of dividends by the Company to its shareholders. 所得稅後果。
Deferred tax is not recognised in respect of the Group’s 若本集團可控制其於聯營公司的投資的
investments in associates where the Group is able to control 匯款或以其他方式變現的時間，以及於the timing of remittance or other realisation and where 可見未來匯款或變現的機會不大，本集remittance or realisation is not probable in the foreseeable 團將不會就此等投資確認遞延稅項。有future. The aggregate temporary differences relating to 關於聯營公司投資產生的未確認遞延稅
unrecognised deferred tax liabilities arising on investments in 項負債之暫時差異總額為8832700美元
associates is US$88327000 (2023: US$86825000). （二零二三年：86825000美元）。378 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 379NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
28. DEFERRED TAX (continued) 28. 遞延稅項（續）
Deferred tax assets 遞延稅項資產
Write-down of Fair value
inventories and loss on
impairment of Lease financial Government
receivables Accruals liabilities investments grants Total存貨撇減及金融投資的應收款項減值暫估費用租賃負債公平值虧損政府補助總計
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元千美元千美元
At 1 January 2023 於二零二三年一月一日2864646528153879467720700
Deferred tax credited/(charged) to 年內計入╱（扣自）損益
profit or loss during the year 的遞延稅項（附註10）
(note 10) 571 (1715) 488 – (250) (906)
Deferred tax charged to other 年內扣自其他全面收益
comprehensive income during 的遞延稅項
the year – – – (3879) - (3879)
Exchange realignment 匯兌調整 (45) (139) (49) – (80) (313)
Gross deferred tax assets 於二零二三年
as at 31 December 2023 十二月三十一日遞延
稅項資產總額339046113254–434715602
At 1 January 2024 於二零二四年
一月一日339046113254–434715602
Deferred tax credited/(charged) to 年內計入╱（扣自）損益
profit or loss during the year 的遞延稅項（附註10）
(note 10) 399 442 202 – (12) 1031
Exchange realignment 匯兌調整 (50) (88) (52) – (63) (253)
Gross deferred tax assets 於二零二四年
as at 31 December 2024 十二月三十一日遞延
稅項資產總額 3739 4965 3404 – 4272 16380380 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 381
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
28. DEFERRED TAX (continued) 28. 遞延稅項（續）
For presentation purposes certain deferred tax assets and 出於呈列目的，若干遞延稅項資產及負liabilities have been offset in the statement of financial position. 債已在財務狀況表中抵銷。以下為就財The following is an analysis of the deferred tax balances of the 務報告目的對本集團遞延稅項結餘進行
Group for financial reporting purposes: 的分析：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Net deferred tax liabilities recognised 於綜合財務狀況表確認的
in the consolidated statement 遞延稅項負債淨額
of financial position 10948 30834
The Group has tax losses arising in Hong Kong of 本集團於香港產生的稅項虧損為
US$26819000 that are available indefinitely for offsetting 26819000美元，可無限期用作抵銷against future taxable profits of the companies in which 產生虧損的公司的未來應課稅溢利。本the losses arose. The Group also has tax losses arising 集團亦有於中國內地產生的稅項虧損
in Mainland China of US$1503187000 that will expire in 1503187000美元，將於一至十年內屆one to ten years for offsetting against future taxable profits. 滿，可用作抵銷未來應課稅溢利。由於Relevant deferred tax assets have not been recognised due to 不大可能出現未來應課稅溢利，故並無improbable future taxable profits. 確認相關遞延稅項資產。
The Group has tax losses arising in Hong Kong of 本集團在香港產生的稅項虧損為US$31628000 (2023: US$24916000) that are available 3 1 6 2 8 0 0 0美元（二零二三年：indefinitely for offsetting against future taxable profits of 24916000美元），可無限期抵銷產生虧the companies in which the losses arose. The Group also 損的公司的未來應課稅溢利。本集團亦has tax losses arising in Mainland China of US$12935000 於中國內地產生稅項虧損12935000美
(2023: US$11622000) that will expire in one to five years for 元（二零二三年：11622000美元），將
offsetting against future taxable profits. 於一至五年內到期以抵銷未來應課稅溢利。
Deferred tax assets have not been recognised in respect of 由於遞延稅項資產乃源自已虧損多時的
these losses as they have arisen in subsidiaries that have been 子公司，且不大可能有應課稅溢利可用loss-making for some time and it is not considered probable 以抵銷可予確認的稅項虧損，故並無就that taxable profits will be available against which the tax 該等虧損確認遞延稅項資產。
losses can been recognised.Deferred tax assets have not been recognised in respect of 由於認為上述項目不大可能得到確認，the temporary differences as it is not considered probable that 故並無就暫時差額確認遞延稅項資產。
the above items can been recognised.380 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 381
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
29. GOVERNMENT GRANTS 29. 政府補助
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
At 1 January 於一月一日 35017 37714
Additions 添置 69319 18976
Released to offsetting research and 撥入以抵銷研發成本
development costs (5773) (6408)
Released to offset finance costs 撥入以抵銷財務費用 (5459) (3015)
Offset with long term assets 抵銷長期資產 (35230) (11632)
Exchange realignment 匯兌調整 (311) (618)
As at 31 December 於十二月三十一日 57563 35017
The Group received government funding for several 本集團的多個政府資助項目均獲得政府
government-sponsored projects focusing on the research and 撥付資金資助，該等項目專注於研發先development of advanced technologies. 進技術。
30. SHARE CAPITAL 30. 股本
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Issued and fully paid: 已發行及繳足：
1718468815(2023:1716588694)1718468815股（二零二三年：ordinary shares 1716588694股）普通股 4938457 4933559382 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 383
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
30. SHARE CAPITAL (continued) 30. 股本（續）
A summary of movements in the Company’s share capital is as 本公司股本的變動概述如下：
follows:
Number of Amount
shares in of share
issue capital已發行股份數目股本金額
’000 US$’000千股千美元
At 1 January 2023 於二零二三年一月一日 1306837 1994462
Share options exercised (note (a)) 行使購股權（附註(a)） 2002 5126
Shares issued (note (b)) 已發行股份（附註(b)） 407750 2933971
At 31 December 2023 and 1 January 2024 於二零二三年十二月三十一日及二零二四年一月一日17165894933559
Share options exercised (note (a)) 行使購股權（附註(a)） 1880 4898
At 31 December 2024 於二零二四年十二月三十一日 1718469 4938457
Notes: 附註：
(a) The subscription rights attaching to 1880000 (2023: 2002000) (a) 根據二零一八年購股權，1880000份share options under the 2018 Options were exercised at the （二零二三年：2002000份）購股權
subscription prices of HK$15.056 and HK$17.952 per share 附帶之認購權已按認購價每股15.056(2023: HK$15.056 and HK$17.952 per share) resulting in the 港元及每股 1 7 . 9 5 2港元（二零二三issue of 1880000 (2023: 2002000) shares for a total cash 年：每股15.056港元及每股17.952港consideration of US$3683000 (2023: US$3878000). An amount 元）行使，引致發行1880000股（二of US$1215000 (2023: US$1248000) was transferred from the 零二三年：2002000股）股份，總現share option reserve to share capital upon exercise of the share 金代價為3683000美元（二零二三options. 年：3878000美元）。購股權獲行使後，1215000美元（二零二三年：1248000美元）款項已由購股權儲備轉撥至股本。
(b) On 7 August 2023 the Company was listed on the SSE STAR (b) 於二零二三年八月七日，本公司於上交Market. By way of the share issuance 407750000 ordinary 所科創板上市。通過發行股份的方式，shares of the Company were subscribed with gross proceeds 本公司407750000股普通股已獲認
of RMB21203 million (equivalent to US$2974 million). After 購，所得款項總額為人民幣21203百萬deducting issuance costs including underwriting fees and 元（相當於2974百萬美元）。經扣除發other issuance costs the net proceeds were RMB20921 million 行成本（包括承銷費用及其他發行費用）
(equivalent to US$ 2934 million) which resulted in an increase of 後，所得款淨額為人民幣20921百萬元RMB20921 million (equivalent to US$2934 million) in the share （相當於2934百萬美元），因此普通股capital of ordinary shares. 股本增加人民幣20921百萬元（相當於
2934百萬美元）。382 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 383
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
31. SHARE OPTION SCHEME 31. 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 Scheme includes two batches each of which 該計劃分為兩批，各自分別於二零一五was effective on 4 September 2015 (the “2015 Options”) and 年九月四日（「二零一五年購股權」）及二on 24 December 2018 (the “2018 Options”) respectively. 零一八年十二月二十四日（「二零一八年Eligible participants of the Scheme include the Company’s 購股權」）生效。該計劃之符合資格參與directors including a non-executive director an executive 者包括本公司董事（包括一名非執行董director and other employees of the Group. The share options 事、一名執行董事）及本集團其他僱員。
unless otherwise cancelled or amended will remain in force 除非另被取消或修訂，該等購股權將由for 7 years from the respective effective dates. 各生效日期起計7年內有效。
The maximum number of unexercised share options currently 現時可根據該計劃授出之未行使購股權
permitted to be granted under the Scheme is an amount 數目不得超過該等購股權行使後本公司
equivalent upon their exercise to 10% of the shares of the 任何時候已發行股份之10%。於任何十Company in issue at any time. The maximum number of shares 二個月期間，該計劃各符合資格參與者issuable under share options to each eligible participant in 根據購股權可獲發行之股份數目不得超
the Scheme within any 12-month period is limited to 1% of 過本公司任何時候已發行股份之1%。進the shares of the Company in issue at any time. Any further 一步授予超出此限額之購股權則須股東
grant of share options in excess of this limit is subject to 在股東大會上批准。
shareholders’ approval in a general meeting.Share options granted to a director chief executive or 向本公司董事、最高行政人員或主要股
substantial shareholder of the Company or to any of their 東或彼等之任何聯繫人士授予購股權須
associates are subject to approval in advance by the 事先取得獨立非執行董事批准。此外，Independent Non-Executive Directors. In addition any share 倘若於任何十二個月期間，授予本公司options granted to a substantial shareholder or an independent 主要股東或獨立非執行董事或彼等各自
non-executive director of the Company or to any of their 之任何聯繫人士之購股權超出本公司任associates in excess of 0.1% of the shares of the Company 何時候已發行股份之0.1%或總值（根據in issue at any time or with an aggregate value (based on the 授出日期本公司股份價格計算）超逾5百
price of the Company’s shares at the date of grant) in excess 萬港元，則須事先在股東大會上取得股of HK$5 million within any 12-month period are subject to 東批准。
shareholders’ approval in advance in a general meeting.The exercise period of the share options granted is 已授出購股權之行使期由董事決定，並determinable by the directors and commences after a vesting 於二至五年歸屬期後開始以及於該計劃
period of two to five years and ends on a date which is not 屆滿之日前終止。
later than the expiry date of the Scheme.The exercise price of share options is determinable by the 購股權之行使價為由董事釐定，惟不得directors but may not be less than the higher of (i) the Stock 少於以下兩者之最高者：(i)本公司股份
Exchange closing price of the Company’s shares on the 於授予購股權日期在聯交所之收市價；
date of offer of the share options; and (ii) the average Stock 及(ii)本公司股份於緊接授出日期前五個
Exchange closing price of the Company’s shares for the five 交易日在聯交所之平均收市價。
trading days immediately preceding the date of offer.384 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 385
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
31. SHARE OPTION SCHEME (continued) 31. 購股權計劃（續）
There are no cash settlement alternatives. The Group 不可選擇以現金結算。本集團過往並無does not have a past practice of cash settlement for these 以現金結算該等購股權。本集團將該計share options. The Group accounts for the Scheme as an 劃作為權益結算計劃入賬。
equity-settled plan.Share options do not confer rights on the holders to dividends 購股權並非附帶可令持有人獲得股息或
or to vote at shareholders’ meetings. 於股東大會投票的權利。
2018 Options 二零一八年購股權
The following 2018 Options were outstanding during the year: 年內，以下購股權尚未根據二零一八年購股權獲行使：
20242023
二零二四年二零二三年
Weighted Weighted
average average
exercise exercise
price Number price Number
HK$ per of options HK$ per of options
share ’000 share ’000加權平均加權平均行使價購股權數目行使價購股權數目每股港元千份每股港元千份
At 1 January 於一月一日 15.329 21422 15.318 23438
Exercised during the year 年內行使 15.272 (1880) 15.184 (2002)
Forfeited during the year 年內沒收 16.709 (205) 16.382 (14)
At 31 December 於十二月三十一日 15.320 19337 15.329 21422384 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 385
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
31. SHARE OPTION SCHEME (continued) 31. 購股權計劃（續）
2018 Options (continued) 二零一八年購股權（續）
The exercise prices and exercise periods of the 2018 Options 於報告期末二零一八年購股權項下尚未
outstanding as at the end of the reporting period are as 行使購股權的行使價及行使期如下：
follows:
20242023
二零二四年二零二三年
Number of Number of Exercise
options options price* Exercise period
購股權數目購股權數目行使價*行使期
’000 ’000 HK$ per share千份千份每股港元
24 December 2020 to 23 December 2025
5273588315.056二零二零年十二月二十四日至二零二五年十二月二十三日
24 December 2021 to 23 December 2025
3263387215.056二零二一年十二月二十四日至二零二五年十二月二十三日
24 December 2022 to 23 December 2025
8179878815.056二零二二年十二月二十四日至二零二五年十二月二十三日
24 December 2023 to 23 December 2025
92592515.056二零二三年十二月二十四日至二零二五年十二月二十三日
29 March 2021 to 28 March 2026
636318.400二零二一年三月二十九日至二零二六年三月二十八日
29 March 2022 to 28 March 2026
12512518.400二零二二年三月二十九日至二零二六年三月二十八日
29 March 2023 to 28 March 2026
12512518.400二零二三年三月二十九日至二零二六年三月二十八日
29 March 2024 to 28 March 2026
12512518.400二零二四年三月二十九日至二零二六年三月二十八日
23 December 2021 to 22 December 2026
12521117.952二零二一年十二月二十三日至二零二六年十二月二十二日
23 December 2022 to 22 December 2026
50859417.952二零二二年十二月二十三日至二零二六年十二月二十二日
23 December 2023 to 22 December 2026
55163617.952二零二三年十二月二十三日至二零二六年十二月二十二日
23 December 2024 to 22 December 2026
757517.952二零二四年十二月二十三日至二零二六年十二月二十二日
1933721422
* The exercise price of the share options is subject to adjustment * 倘若進行供股或紅股發行，或本公司之in the case of rights or bonus issues or other similar changes in 股本有其他類似改動，則購股權之行使the Company’s share capital. 價可予調整。386 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 387NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
31. SHARE OPTION SCHEME (continued) 31. 購股權計劃（續）
2018 Options (continued) 二零一八年購股權（續）
The Group recognised a share option expense of the 2018 本集團於年內根據二零一八年購股權Options of US$18000 (2023: US$853000) during the year. 確認購股權開支18000美元（二零二三年：853000美元）
The 1880000 (2023: 2002000) share options exercised 年內，二零一八年購股權項下1880000under the 2018 Options during the year resulted in the 份（二零二三年：2002000份）購股權
issue of 1880000 (2023: 2002000) ordinary shares of the 獲行使，引致本公司發行1880000股Company for a total cash consideration of US$3683000 （二零二三年：2002000股）普通股，(2023: US$3878000). An amount of US$1215000 (2023: 總現金代價為3683000美元（二零二US$1248000) was transferred from the share option reserve 三年：3878000美元）。如財務報表附to share capital upon the exercise of the share options as 註30進一步詳述，購股權獲行使後，further detailed in note 30 to the financial statements. 1215000美元（二零二三年：1248000美元）的款項已由購股權儲備轉撥至股本。
At the end of the reporting period the Company had 於報告期末，本公司擁有19337000
19337000 2018 Options outstanding. The exercise in full of 份尚未行使的二零一八年購股權。根
the outstanding share options would under the present capital 據本公司現時的資本架構，悉數行使尚structure of the Company result in the issue of 19337000 未行使的購股權可能會導致額外發行
additional ordinary shares of the Company and additional 19337000股本公司普通股及增加股本share capital of US$50432000 (including US$12268000 50432000美元（包括由購股權儲備轉transferred from the share option reserve to share capital). 撥至股本的12268000美元）
At the date of approval of these financial statements the 於批准該等財務報表日期，本公司擁有Company had 12382480 2018 Options outstanding which 12382480份尚未行使的二零一八年購
represented approximately 0.72% of the Company’s shares in 股權，佔該日期本公司已發行股份的約issue as at that date. 0.72%。386 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 387NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
32. RESERVES 32. 儲備
The amounts of the Group’s reserves and the movements 本集團於本年度及過往年度的儲備及相
therein for the current and prior years are presented in the 關變動金額於財務報表第306至307頁綜
consolidated statement of changes in equity on pages 306 to 合權益變動表中呈列。
307 of the financial statements.
According to the relevant PRC laws and regulations for 根據中國有關外商獨資企業的法律及法
wholly-foreign-owned enterprises which are applicable to 規（適用於本公司的中國子公司），按照the Company’s subsidiaries in the PRC profits of the PRC 適用的中國會計規則及規例釐定的中國
subsidiaries as determined in accordance with the applicable 子公司的溢利，可於中國子公司(1)償付accounting rules and regulations in the PRC are available 所有稅務負債；(2)就過往年度虧損作出
for distribution in the form of cash dividends to the Company 撥備；及(3)就法定儲備金作出撥備後以
after the PRC subsidiaries have (1) satisfied all tax liabilities; 現金股息形式向本公司作出分派。本公
(2) provided for losses in previous years; and (3) made 司的中國子公司須劃撥不少於其除稅後
appropriations to the statutory reserve funds. The Company’s 溢利的10%作為法定儲備金，直至儲備subsidiaries in the PRC are required to appropriate not less 結餘達到其註冊資本的50%。
than 10% of their profit after taxation to the statutory reserve
funds until the reserve balance reaches 50% of their registered
capital.388 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 389
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
33. LEASES 33. 租賃
As lessor 作為出租人
The Group leases its investment property (note 14) to Shanghai 本集團根據一項經營租賃安排，將其投Huali under an operating lease arrangement with a lease 資物業（附註14）出租予上海華力，租term of 20 years. The terms of the lease generally also require 期為20年。該租約的條款一般亦規定承the tenant to provide for periodic rent adjustments according 租人根據當時市況就定期租金調整作出
to the then prevailing market conditions. Rental income 撥備。本集團於年內確認的租賃收入為recognised by the Group during the year was US$14210000 14210000美元（二零二三年十二月三
(31 December 2023: US$14259000) details of which are 十一日：14259000美元），其詳情載於
included in note 5 to the financial statements. 財務報表附註5。
At 31 December 2024 and 2023 undiscounted lease 於二零二四年及二零二三年十二月三十
payments receivable by the Group in future periods under 一日，本集團根據不可撤銷經營租約於non-cancellable operating leases with its tenant are as follows: 未來期間應收其租戶的未貼現租賃付款
如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Within one year 一年內 13940 13884
After one year but within two years 一年後但於兩年內 13745 13884
After two years but within three years 兩年後但於三年內 13745 13884
After three years but within four years 三年後但於四年內 13745 13884
After four years but within five years 四年後但於五年內 13745 13884
More than five years 超過五年 3174 17097
Total 總計 72094 86517
As lessee 作為承租人
The Group has various lease contracts for land use rights 本集團擁有用於其業務營運的土地使用
offices and dormitory properties used in its operation. Lump 權、辦公室及宿舍物業的若干租賃合
sum payments were made upfront to acquire the leased land 約。已提前作出一次性付款以向業主收from the owners with lease periods of 42 to 50 years and no 購租賃土地，租期介乎42至50年，而根ongoing payments will be made under the terms of these land 據該等土地租賃的條款，將不會繼續支leases. Leases of offices and dormitory properties generally 付任何款項。辦公室及宿舍物業的租期have lease terms between 2 and 20 years. Generally the 通常介乎2至20年。一般而言，本集團Group is restricted from assigning and subleasing the leased 不可向本集團以外人士轉讓及分租租賃
assets outside the Group. 資產。388 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 389NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
33. LEASES (continued) 33. 租賃（續）
As lessee (continued) 作為承租人（續）
(a) Right-of-use assets and lease liabilities (a) 使用權資產及租賃負債
Detailed information regarding right-of-use assets and 與使用權資產及租賃負債有關的資
lease liabilities is set out in notes 15 and 27 respectively 料詳情分別載於財務報表附註15及
to the financial statements. 27。
(b) The amounts recognised in profit or loss in relation to (b) 於損益中確認的租賃相關金額如
leases are as follows: 下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Interest on lease liabilities 租賃負債利息 1061 1068
Depreciation charge of
right-of-use assets 使用權資產折舊開支 6303 6427
Expense relating to short-term leases 與短期租賃有關的開支 2693 2383
Total amount recognised in
profit or loss 於損益確認的總金額 10057 9878
(c) Total cash outflows for leases and non-cash additions to (c) 租賃現金流出總額以及使用權資產
right-of-use assets and lease liabilities are disclosed in 及租賃負債的非現金添置於財務報
note 39 to the financial statements. 表附註39內披露。
34. COMMITMENTS 34. 承擔
The Group had the following contractual commitments at the 本集團於報告期末有以下合約承擔：
end of the reporting period:
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Contracted but not provided for: 已訂約，但未撥備：
Property plant and equipment 物業、廠房及設備 1187570 1258232390 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 391
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
35. RELATED PARTY TRANSACTIONS AND 35. 關聯方交易及結餘
BALANCES
(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”) 20.23% shareholder of the Company
－華虹國際有限公司（「華虹國際」）持股20.23%之本公司股東
– Shanghai Huahong Zealcore Electronics Co. Ltd. Subsidiary of Huahong Group
(“Huahong Zealcore”)
－上海華虹摯芯科技有限公司（「華虹摯芯」）華虹集團子公司
– Zealcore Electronics Shanghai Co. Ltd. Subsidiary of Huahong Group
(“Zealcore Shanghai”)
－上海華虹摯芯電子科技有限公司（「摯芯上海」）華虹集團子公司
– Shanghai Hongri International Electronics Co. Ltd. Subsidiary of Huahong Group
(“Hongri”)
－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. Subsidiary of Huahong Group
(“Jitong”)
－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 Subsidiary of Huahong Group
－上海華力華虹集團子公司
SAIL and its subsidiaries上海聯和及其子公司
– Shanghai Alliance Investment Ltd. (“SAIL”) Holding company of Sino-Alliance International Ltd.－上海聯和投資有限公司（「上海聯和」） Sino-Alliance International Ltd.的控股公司
– Sino-Alliance International Ltd. (“SAIL International”) 11.00% shareholder of the Company
－ Sino-Alliance International Ltd（.「SAIL International」） 持股11.00%之本公司股東
Huahong Technology Development Associate of the Group華虹科技發展本集團聯營公司
– Shanghai Huahong Real Estate Co. Ltd. Subsidiary of Huahong Technology Development
(“Huahong Real Estate”)
－上海華虹置業有限公司（「華虹置業」）華虹科技發展子公司
– Shanghai Huajin Property Management Co. Ltd. Subsidiary of Huahong Technology Development
(“Huajin”)
－上海華錦物業管理有限公司（「華錦」） 華虹科技發展子公司390 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 391
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
35. RELATED PARTY TRANSACTIONS AND 35. 關聯方交易及結餘（續）
BALANCES (continued)
(b) Related party transactions (b) 關聯方交易
The Group had the following material transactions with 本集團於年內已與關聯方進行以下
related parties during the year: 重大交易：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Sales of goods to related parties 向關聯方出售貨品（附註(i)）
(note (i))
Huahong Zealcore# 華虹摯芯# 19969 18495
Hongri# 虹日# 472 2083
Purchases of goods from related 自關聯方購買貨品（附註(ii)）
parties (note (ii))
Hongri# 虹日# 38790 18433
Huahong Zealcore# 華虹摯芯# 711 801
Zealcore Shanghai# 摯芯上海# 30 –
Jitong 計通 16 32
Purchases of intangible assets from 自關聯方購買無形資產（附註(iii)）
a related party (note (iii))
Shanghai Huali# 上海華力# – 17112
Rental income from a related 來自關聯方的租金收入（附註(iv)）
party (note (iv))
Shanghai Huali# 上海華力# 14089 13985
Service fees charged by 關聯方收取的服務費（附註(v)）
related parties (note (v))
Huajin# 華錦# 553 567
Interest expense charged by a 關聯方收取的利息開支（附註(vi)）
related party (note (vi))
Huahong Real Estate# 華虹置業# 887 709
Expense paid on behalf of a 代關聯方支付的開支（附註(vii)）
related party (note (vii))
Shanghai Huali# 上海華力# 28571 29026
# The related party transactions also constitute continuing # 關聯方交易亦構成上市規則第十
connected transactions as defined in Chapter 14A of the 四A章所界定的持續關連交易。
Listing Rules.392 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 393
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
35. RELATED PARTY TRANSACTIONS AND 35. 關聯方交易及結餘（續）
BALANCES (continued)
(b) Related party transactions (continued) (b) 關聯方交易（續）
Note (i) The sales of goods to related parties were made 附註(i) 向關聯方出售的貨品乃根據與
according to the prices and terms agreed between the 關聯方協定的價格及條款作
related parties. 出。
Note (ii) The purchases of goods and intangible assets from 附註(ii) 自關聯方購買的貨品及無形資
related parties were made according to the prices and 產乃根據關聯方提供的價格及
terms offered by the related parties. 條款作出。
Note (iii) The purchases of intangible assets from a related party 附註(iii) 自關聯方購買無形資產乃根據
were made according to the prices and terms offered 關聯方提供的價格及條款作
by the related party. 出。
Note (iv) The rental income received from a related party was 附註(iv) 來自關聯方的租金收入乃根據
based on the prices and terms agreed between the 與關聯方協定的價格及條款收
related parties. 取。
Note (v) The service fees and interest expense charged by 附註(v) 服務費及利息開支乃由關聯方
related parties were based on the prices and terms 根據與關聯方協定的價格及條
agreed between the related parties. 款收取。
Note (vi) The Group entered into leases in respect of certain 附註(vi) 本集團就自華虹置業租賃的
dormitory properties from Huahong Real Estate. The 若干宿舍物業訂立租約。本amount of rent payable by the Group under the leases 集團於租賃項下應付的租金
is US$2544000 per year. At 31 December 2024 為每年2544000美元。於二the balances of those right-of-use assets and lease 零二四年十二月三十一日，liabilities were US$16035000 (31 December 2023: 該等使用權資產及租賃負債
US$18083000) and US$18848000 (31 December 的結餘分別為16035000美2023: US$20790000) respectively. 元（二零二三年十二月三十一日：18083000美元）及18848000美元（二零二三年十二月三十一日：20790000美元）。
Note (vii) The expense paid on behalf of the related party is 附註(vii) 代關聯方支付的開支為不計
interest-free and repayable on demand. 息，及須按要求償還。392 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 393NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
35. RELATED PARTY TRANSACTIONS AND 35. 關聯方交易及結餘（續）
BALANCES (continued)
(c) Outstanding balances with related parties (c) 與關聯方之間的未結清餘額
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Amounts due from related parties 應收關聯方款項
Shanghai Huali 上海華力 10074 6933
Huahong Zealcore 華虹摯芯 8250 4286
Total 總計 18324 11219
Amounts due to related parties 應付關聯方款項
Hongri 虹日 6455 2126
Shanghai Huali 上海華力 2445 11304
Huahong Zealcore 華虹摯芯 196 190
Jitong 計通 18 35
Huajin 華錦 11 221
Total 總計 9125 13876
(d) Compensation of key management personnel of the (d) 本集團主要管理人員的酬金
Group
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Short term employee benefits 短期僱員福利 6070 5744
Pension scheme contributions 退休金計劃供款 183 183
Equity-settled share option expense 以權益結算的購股權開支 18 113
Total compensation paid to key
management personnel 支付予主要管理人員的酬金總額 6271 6040
Further details of directors’ remuneration are included in 董事薪酬之進一步詳情載於財務報
note 8 to the financial statements. 表附註8。394 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 395NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
36. FINANCIAL INSTRUMENTS BY CATEGORY 36. 按類別劃分的金融工具
The carrying amounts of each of the categories of financial 各類金融工具於報告期末的賬面值如
instruments as at the end of the reporting period are as 下：
follows:
Financial assets – at amortised cost 金融資產－按攤銷成本
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Trade and notes receivables 貿易應收款項及應收票據 270461 278669
Financial assets included in prepayments 計入預付款項、其他應收款項
other receivables and other assets 及其他資產的金融資產
(note 22) （附註22） 32946 11632
Due from related parties 應收關聯方款項 18324 11219
Pledged deposits 已抵押存款 31624 32088
Cash and cash equivalents 現金及現金等價物 4459132 5585181
Total 合計 4812487 5918789
Financial assets – at fair value through other comprehensive 金融資產－按公平值計入其他全面收益
income without recycling to profit or loss （不得重新計入損益）
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Equity investments designated at fair value 指 定為按公平值計入其他全面收益
through other comprehensive income 的股權投資 289311 270506
Financial liabilities – at amortised cost 金融資產－按攤銷成本
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Trade payables 貿易應付款項 298372 235410
Financial liabilities included in other 計入其他應付款項及暫估費用的
payables and accruals (note 25) 金融負債（附註25） 690134 251275
Interest-bearing bank borrowings 計息銀行借款 2197939 2099561
Due to related parties 應付關聯方款項 9125 13876
Total 合計 3195570 2600122394 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 395
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
37. FAIR VALUE AND FAIR VALUE HIERARCHY 37. 金融工具的公平值及公平值層
OF FINANCIAL INSTRUMENTS 級The carrying amounts and fair values of the Group’s financial 本集團金融工具（不包括賬面值與公平值instruments other than those with carrying amounts that 大致相若的金融工具）的賬面值及公平值
reasonably approximate to fair values are as follows: 載列如下：
Carrying amounts Fair values賬面值公平值
2024202320242023
二零二四年二零二三年二零二四年二零二三年
US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元
Financial assets 金融資產
Equity investments 指定為按公平值
designated at fair 計入其他全面
value through other 收益的股權投資
comprehensive income 289311 270506 289311 270506
Financial liabilities 金融負債
Interest-bearing bank 計息銀行借款
borrowings 1917235 1906526 1910907 1911206
Management has assessed that the fair values of cash 管理層已評估現金及現金等價物、已抵
and cash equivalents pledged deposits trade and notes 押存款、貿易應收款項及應收票據、計
receivables financial assets included in prepayments other 入預付款項的金融資產、其他應收款
receivables trade payables financial liabilities included in 項、貿易應付款項、計入其他應付款項
other payables and accruals amounts due from/to related 及暫估費用的金融負債、應收╱應付關
parties the current portion of interest-bearing bank borrowings 聯方款項及計息銀行借款及租賃負債的
and lease liabilities approximate to their carrying amounts 流動部份的公平值與其賬面值相若，主largely due to the short term maturities of these instruments. 要是由於該等工具均於短期內到期。
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。估值instruments and determines the major inputs applied in the 過程及結果由董事會每年討論兩次，以valuation. The valuation is reviewed and approved by the 進行中期及年度財務申報。
chief financial officer. The valuation process and results are
discussed with the board of directors twice a year for interim
and annual financial reporting.396 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 397
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
37. FAIR VALUE AND FAIR VALUE HIERARCHY 37. 金融工具的公平值及公平值層
OF FINANCIAL INSTRUMENTS (continued) 級（續）
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。估計公平值乃other than in a forced or liquidation sale. The following 使用以下的方法及假設：
methods and assumptions were used to estimate the fair
values:
The fair values of the non-current portion of interest-bearing 計息銀行借款的非流動部份的公平值乃
bank borrowings have been calculated by discounting the 透過採用具有類似年期、信貸風險及剩
expected future cash flows using rates currently available 餘到期期限的工具的現有利率貼現預期
for instruments with similar terms credit risk and remaining 未來現金流量而計算。本集團評估後認maturities. The changes in fair value as a result of the Group’s 為，於二零二四年十二月三十一日因其own non-performance risk for the non-current portion of 自身的計息銀行借款的非流動部分不履
interest-bearing bank borrowings as at 31 December 2024 約風險而導致的公平值變動並不重大。
were assessed to be insignificant.The fair values of unlisted equity investments designated at 指定為按公平值計入其他全面收益的非
fair value through other comprehensive income have been 上市股本投資之公平值採用市場法估
estimated using the market approach. If there is a recent 算。倘最近成交交易有關未上市投資，deal regarding the unlisted investments the fair values are 公平值乃基於交易價估算。倘並無該estimated based on the dealing price. If there is no such deal 等交易可供參考，董事將根據行業、規to be referenced the directors will determine comparable 模、影響力及策略釐定可比較上市公司
public companies (peers) based on industry size leverage （同行），且就已確定的各可資比較公司and strategy and calculate an appropriate price multiple such 計算適當的價格倍數，如市賬率（「市as price to book value (“P/B”) multiple for each comparable 賬率」）倍數。該倍數乃按可資比較公company identified. The multiple is calculated by dividing the 司之企業價值除以淨資產所得。交易倍enterprise value of the comparable company by net assets. 數隨後根據公司特定情況及狀況就非流
The trading multiple is then discounted for considerations 動性等因素予以貼現。貼現倍數適用於such as illiquidity based on company-specific facts and 非上市股本投資的相應淨資產以計量公
circumstances. The discounted multiple is applied to the 平值。董事認為，計入綜合財務狀況表corresponding net assets of the unlisted equity investments to 的估值技術所產生的估計公平值以及計
measure the fair value. The directors believe that the estimated 入其他全面收益的公平值相關變動屬合
fair values resulting from the valuation technique which are 理，而於報告期末的價值最為恰當。
recorded 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.396 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 397
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
37. FAIR VALUE AND FAIR VALUE HIERARCHY 37. 金融工具的公平值及公平值層
OF FINANCIAL INSTRUMENTS (continued) 級（續）
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
31 December 2024 二零二四年十二月三十一日
Fair value measurement using公平值計量採用以下基準
Quoted Quoted Quoted
prices prices prices
in active in active in active
markets markets markets於活躍市場於活躍市場於活躍市場的市場報價的市場報價的市場報價
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$’000千美元千美元千美元千美元
Equity investments 指 定為按公平值計入
designated at 其他全面收益的股
fair value through other 權投資
comprehensive income – 17390 271921 289311
31 December 2023 二零二三年十二月三十一日
Fair value measurement using公平值計量採用以下基準
Quoted Quoted Quoted
prices prices prices
in active in active in active
markets markets markets於活躍市場於活躍市場於活躍市場的市場報價的市場報價的市場報價
Level 1 Level 2 Level 3 Total
第1級第2級第3級總計
US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元
Equity investments 指定 為按公平值計入
designated at fair 其他全面收益的股
value through other 權投資
comprehensive income 2429 265128 2949 270506398 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 399
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
37. FAIR VALUE AND FAIR VALUE HIERARCHY 37. 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）
The Group’s policy is to recognise transfers between levels of 於報告期末，本集團的政策為確認公平the fair value hierarchy at the end of the reporting period. 值層級之間的轉移。
During the year there were no transfers of fair value 於年內，第1級與第2級公平值計量之間measurements between Level 1 and Level 2 (2023: Nil). 並無轉移（二零二三年：無）
During the year 2024 there was a transfer from Level 2 to 於二零二四年內，賬面值為265128000Level 3 for an equity investment designated at fair value 美元的指定為按公平值計入其他全面收
through other comprehensive income with a carrying amount 益的股權投資自第2級轉入第3級，因為of US$265128000 because there was no recent dealing price 並無近期交易價可供參考，且公平值計to be referenced and the significant inputs used in the fair 量所用重大輸入數據為不再可供觀察。
value measurements were no longer observable.During the year 2023 there was a transfer from Level 3 to 於二零二三年內，賬面值為174170000Level 2 for an equity investment designated at fair value 美元的指定為按公平值計入其他全面收
through other comprehensive income with a carrying amount 益的股權投資自第3級轉入第2級，因為of US$174170000 because there was a recent dealing price 有近期交易價可供參考，且公平值計量to be referenced and the significant inputs used in the fair 所用重大輸入數據為可觀察。
value measurements were observable.398 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 399
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
37. FAIR VALUE AND FAIR VALUE HIERARCHY 37. 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 financial 本集團按公平值計入損益的金融資產的
assets at fair value through profit or loss was performed using 週期公平值計量乃使用二零二四年及二
significant unobservable inputs (Level 3) as at 31 December 零二三年十二月三十一日的重大不可觀
2024 and 2023. Below is a summary of the valuation technique 察輸入數據（第3級）作出。下文為估值
used and the key inputs to the valuation: 所用估值技術及主要輸入數據概要：
Valuation Significant Sensitivity of fair
technique unobservable input Range value to the input重大不可觀察公平值對輸入數據估值技術輸入數據範圍之敏感度
Equity investments designated 指 定為按公平值計入 Valuation multiples Average P/B 2024: 0.7x-3.0x 5%
at fair value through other 其他全面收益的 multiple of peers increase/decrease
comprehensive income 股本投資 would result in
increase/decrease in
fair value by 5%
估值倍數 同業平均市賬率 二零二四年：0.7x-3.0x 5%
的增加╱減少
將導致公平值增加╱
減少5%
Valuation multiples Average P/S 2024: 3.9x-7.4x 5% (2023: 5%)
multiple of peers 2023: 4.5x-11.9x increase/decrease
would result in
increase/decrease in
fair value by 5%
(2023:5%)
估值倍數 同業平均市銷率 二零二四年：3.9x-7.4x 5%（二零二三年：5%）
二零二三年：4.5x-11.9x 的增加╱減少將導致
公平值增加╱減少5%
（二零二三年：5%）
Discount for illiquidity 2024: 20%-30% 5% (2023: 5%)
2023: 20%-30% increase/decrease
would result in
decrease/increase in
fair value by 5%
(2023:5%)
缺乏流通性的折讓價二零二四年：20%-30%5%（二零二三年：5%）
二零二三年：20%-30%的增加╱減少將導致
公平值減少╱增加5%
（二零二三年：5%）400 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 401
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
37. FAIR VALUE AND FAIR VALUE HIERARCHY 37. 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 年內分類為第3級的金融資產變動如下：
during the year 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權投資
US$’000千美元
At 1 January 2023 於二零二三年一月一日 176190
Transfer to level 2 轉入第2級 (174170)
Total gains recognised in other 於其他全面收益確認的收益總額
comprehensive income 968
Exchange realignment 匯兌調整 (39)
At 31 December 2023 and 1 January 2024 於二零二三年十二月三十一日及二零二四年一月一日2949
Transfer from level 2 自第2級轉入 265128
Total gains recognised in other 於其他全面收益確認的收益總額
comprehensive income 7991
Exchange realignment 匯兌調整 (4147)
As at 31 December 2024 於二零二四年十二月三十一日 271921400 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 401
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
38. FINANCIAL RISK MANAGEMENT 38. 財務風險管理目標及政策
OBJECTIVES AND POLICIES
The Group’s principal financial instruments comprise bank 本集團的主要金融工具包括銀行貸款、
loans cash and short-term deposits. The main purpose of 現金及短期存款。該等金融工具的主要these financial instruments is to raise finance for the Group’s 用途乃為本集團的營運籌措資金。本集operations. The Group has various other financial assets and 團有多種直接自其營運產生的其他金融
liabilities such as trade and other receivables and trade and 資產及負債，如貿易及其他應收款項以other payables which arise directly from its operations. 及貿易及其他應付款項。
The main risks arising from the Group’s financial instruments 本集團金融工具所產生的主要風險為利
are interest rate risk foreign currency risk credit risk and 率風險、外幣風險、信貸風險及流動資
liquidity risk. The board of directors reviews and agrees 金風險。董事會檢討及協定管理各類該policies for managing each of these risks and they are 等風險的政策，有關政策概述於下文。
recognised below.Interest rate risk 利率風險
The Group’s exposure to the risk of changes in market interest 本集團面臨市場利率變動的風險，主要rates relates primarily to the Group’s interest-bearing bank 與本集團浮動利率計息銀行借款有關。
borrowings with a floating interest rate. The Group’s policy is to 本集團的政策為運用固定及浮動利率債
manage its interest cost using a mix of fixed and variable rate 務組合管理利息成本。
debts.As at 31 December 2024 if the interest rates had been 100 於二零二四年十二月三十一日，倘利率basis points higher/lower with all other variables held constant 增加或減少100基點，而所有其他變量profit before tax for the year would have been US$20053000 維持不變，年內稅前溢利將減少或增加lower/higher (31 December 2023: US$17524000) mainly as 20053000美元（二零二三年十二月三a result of higher/lower interest expense on floating rate bank 十一日：17524000美元），乃主要由於borrowings. 浮動利率銀行借款的利息開支增加或減少。402 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 403NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
38. FINANCIAL RISK MANAGEMENT 38. 財務風險管理目標及政策（續）
OBJECTIVES AND POLICIES (continued)
Foreign currency risk 外幣風險
The Group has transactional currency exposures. These 本集團面臨交易外匯風險。該等風險產exposures arise from sales or purchases by its significant 生自其在中國內地經營的重要子公司以
subsidiary operating in Mainland China in US$ other than the 美元進行的買賣，而並非以其功能貨幣subsidiary’s functional currency which is RMB. During the 人民幣進行。於年內，本集團的銷售額year approximately 18% (2023: 22%) of the Group’s sales 中約18%（二零二三年：22%）乃以進行
were denominated in currencies other than the functional 銷售的子公司的功能貨幣以外的貨幣計currency of the subsidiary making the sale whilst 61% (2023: 值，與此同時，銷售成本中61%（二零
53%) of costs of sales were denominated in the subsidiary’s 二三年：53%）乃以子公司的功能貨幣計
functional currency. 值。
In addition the Group has currency exposures from 此外，本集團面臨來自計息銀行借款的interest-bearing bank borrowings held by its subsidiary 外幣風險，該借款由其在中國內地經operating in Mainland China. As at 31 December 2024 營的子公司持有。於二零二四年十二interest-bearing bank borrowings with a carrying amount of 月三十一日，賬面值為1502330000US$1502330000 (31 December 2023: US$1653010000) 美元（二零二三年十二月三十一日：are dominated in United States dollars other than the 1653010000美元）的計息銀行借款以
subsidiary’s functional currency which is RMB. 美元計值，而非以該子公司的功能貨幣人民幣計值。
The following table demonstrates the sensitivity at the end of 下表顯示在所有其他變量維持不變的情the reporting period to a reasonably possible change in the 況下，於報告期末本集團稅前溢利（由美RMB exchange rates with all other variables held constant 元及人民幣計值的金融工具產生）對人民
of the Group’s profit before tax (arising from USD and RMB 幣匯率的合理可能變動的敏感度：
denominated financial instruments):
Increase/
Increase/ (decrease)
(decrease) in profit
in US$ rate before tax
美元匯率增加╱稅前溢利增加╱（減少）（減少）
Year ended 31 December 2024 截至二零二四年十二月三十一日止年度
If US$ weakens against RMB 倘美元兌人民幣貶值 5% 99620
If US$ strengthens against RMB 倘美元兌人民幣升值 (5%) (99620)
Year ended 31 December 2023 截至二零二三年十二月三十一日止年度
If US$ weakens against RMB 倘美元兌人民幣貶值 5% 47599
If US$ strengthens against RMB 倘美元兌人民幣升值 (5%) (47599)402 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 403
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
38. FINANCIAL RISK MANAGEMENT 38. 財務風險管理目標及政策（續）
OBJECTIVES AND POLICIES (continued)
Credit risk 信貸風險
Credit risk is the risk that a counterparty cannot meet its 信貸風險指對手方無法履行金融工具或
obligations under a financial instrument or customer contract 客戶合約項下責任而引致金融損失之風leading to a financial loss. The Group is exposed to credit risk 險。本集團面臨來自其經營活動（主要為from its operating activities (primarily trade receivables). 貿易應收款項）的信貸風險。
The Group trades only with recognised and creditworthy third 本集團僅與獲認可及信譽良好的第三方
parties and related parties. It is the Group’s policy that all 及關聯方交易。本集團的政策規定，所customers who wish to trade on credit terms are subject to 有擬按信用方式交易的客戶均須通過信
credit verification procedures. In addition receivable balances 用核實程序。此外，由於持續對應收款are monitored on an ongoing basis and the Group’s exposure 項結餘進行監控，故本集團的壞賬風險to bad debts is not significant. 並不重大。
The carrying amounts of cash and cash equivalents trade and 綜合財務狀況表內現金及現金等價物、
notes receivables financial assets included in prepayments 貿易應收款項及應收票據及計入預付款
other receivables and other assets amounts due from related 項、其他應收款項及其他資產的金融資
parties and pledged deposits included in the consolidated 產、應收關聯方款項以及已抵押存款的
statement of financial position represent the Group’s maximum 賬面值為本集團就其金融資產所面臨的
exposure to credit risk in relation to its financial assets. The 最大信貸風險。本集團並無其他存在重Group has no other financial assets which carry significant 大信貸風險的金融資產。
exposure to credit risk.Further qualitative and quantitative information regarding 有關貿易應收款項的進一步定性及定量trade receivables for which the Group applies the simplified 資料（本集團根據香港財務報告準則第9approach in calculating ECLs under HKFRS 9 is disclosed in 號對其採用簡化方法計算預期信貸虧損）
note 21 to the financial statements. 於財務報表附註21內披露。
Apart from trade and notes receivables all the carrying 除財務報表附註22內所載分類為第三階amounts of financial assets at amortised cost applying the 段的全數已減值的其他應收款項（除貿易general approach under HKFRS 9 are classified as Stage 1 in 應收款項及應收票據外），所有按攤銷成terms of ECLs as at 31 December 2024 in addition to the fully 本計量的金融資產的賬面值（根據香港財impaired other receivables classified as Stage 3 as stated in 務報告準則第9號採用一般方法）就二零
note 22 to the financial statements. 二四年十二月三十一日的預期信貸虧損分類為第一階段。
Liquidity risk 流動資金風險
The Group’s policy is to monitor regularly the current and 本集團的政策為定期監控現時及預期流
expected liquidity requirements to ensure that it maintains 動資金需要，以確保維持充裕的現金儲sufficient reserves of cash and adequate committed lines of 備及從主要金融機構獲得足夠的融資承
funding from major financial institutions to meet its liquidity 擔額度，以應對其短期及長期流動資金requirements in the short and long term. 需要。404 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 405NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
38. FINANCIAL RISK MANAGEMENT 38. 財務風險管理目標及政策（續）
OBJECTIVES AND POLICIES (continued)
Liquidity risk (continued) 流動資金風險（續）
The maturity profile of the Group’s financial liabilities as at 於報告期末，本集團金融負債根據合約the end of the reporting period based on the contractual 未貼現付款的到期情況如下：
undiscounted payments is as follows:
31 December 2024 二零二四年十二月三十一日
On Less than 3 to 1 to Over
demand 3 months 12 months 5 years 5 years Total按要求少於三個月三至十二個月一至五年五年以上總計
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
Interest-bearing bank 計息銀行借款
borrowings 2552 4925 388251 1692471 495886 2584085
Lease liabilities 租賃負債 282 3131 2415 11015 10066 26909
Trade payables 貿易應付款項 76708 221664 – – – 298372
Financial liabilities included 計入其他應付款項
in other payables 及暫估費用的
and accruals 金融負債 483094 207040 – – – 690134
Amounts due to related 應付關聯方款項
parties 9125 – – – – 9125
Total 總計 571761 436760 390666 1703486 505952 3608625
31 December 2023 二零二三年十二月三十一日
On Less than 3 to 1 to Over
demand 3 months 12 months 5 years 5 years Total按要求少於三個月三至十二個月一至五年五年以上總計
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
Interest-bearing bank 計息銀行借款
borrowings – 1676 283006 1578487 703782 2566951
Lease liabilities 租賃負債 – 3468 513 10217 12771 26969
Trade payables 貿易應付款項 43715 191695 – – – 235410
Financial liabilities included 計入其他應付款項
in other payables 及暫估費用的
and accruals 金融負債 175893 75382 – – – 251275
Amounts due to related 應付關聯方款項
parties 13876 – – – – 13876
Total 總計 233484 272221 283519 1588704 716553 3094481404 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 405
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
38. FINANCIAL RISK MANAGEMENT 38. 財務風險管理目標及政策（續）
OBJECTIVES AND POLICIES (continued)
Capital management 資本管理
The primary objectives of the Group’s capital management 本集團資本管理的首要目標為，維護本are to safeguard the Group’s ability to continue as a going 集團的持續經營能力及維持良好的資本
concern and to maintain healthy capital ratios to support its 比率，以支持其業務及實現股東價值最business and maximise shareholders’ value. 大化。
The Group manages its capital structure and makes 本集團根據經濟狀況的變動管理及調整
adjustments to it in light of changes in economic conditions. 其資本架構。為維持或調整資本架構，To maintain or adjust the capital structure the Group may 本集團或會調整派付予股東的股息、向
adjust the dividend payment to shareholders return capital to 股東返還資本或發行新股。本集團不shareholders or issue new shares. The Group is not subject to 受任何外部施加的資本要求規限。於年any externally imposed capital requirements. No changes were 內，本集團管理資本的目標、政策或程made in the objectives policies or processes for managing 序概無任何變動。
capital during the year.The Group monitors capital using a gearing ratio which is net 本集團以資產負債比率監控資本，資產debt divided by total equity plus net debt. The Group includes 負債比率按淨負債除以權益總額加淨負
within net debt trade payables other payables and accruals 債計算。本集團將貿易應付款項、其他interest-bearing bank borrowings lease liabilities and amounts 應付款項及暫估費用、計息銀行借款、
due to related parties less cash and cash equivalents. The 租賃負債以及應付關聯方款項扣除現金
gearing ratios as at the end of each of the reporting periods 及現金等價物計入淨負債。於各報告期were as follows: 末的資產負債比率如下：
31 December 31 December
20242023
二零二四年二零二三年十二月三十一日十二月三十一日
US$’000 US$’000千美元千美元
Trade payables 貿易應付款項 298372 235410Other payables and accruals excluding 其他應付款項及暫估費用（合約contract liabilities (note 24) 負債除外）（附註24） 772816 343933
Interest-bearing bank borrowings 計息銀行借款 2197939 2099561
Lease liabilities 租賃負債 22980 22205
Amounts due to related parties 應付關聯方款項 9125 13876
Less: Cash and cash equivalents 減：現金及現金等價物 (4459132) (5585181)
Net debt 淨負債 (1157900) (2870196)
Total equity 權益總額 8906619 8014544
Total equity and net debt 權益總額及淨負債 7748719 5144348
Gearing ratio 資產負債比率 (14.94)% (55.79)%406 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 407
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
39. NOTES TO THE CONSOLIDATED 39. 綜合現金流量表附註
STATEMENT OF CASH FLOWS
(a) Major non-cash transactions (a) 主要非現金交易
During the year the Group had non-cash additions to 於年內，本集團與建築物租賃安排right-of-use assets or lease liabilities of US$5745000 有關的使用權資產或租賃負債的非(2023: US$7862000) in respect of lease arrangements 現金添置為5745000美元（二零二for buildings. 三年：7862000美元）
(b) Changes in liabilities arising from financing activities are (b) 融資活動所產生的負債變動如下：
as follows:
Interest-
bearing bank Lease
borrowings liabilities計息銀行借款租賃負債
US$’000 US$’000千美元千美元
As at 1 January 2023 於二零二三年一月一日 1908336 19348
Changes from financing cash flows 融資現金流量變動 85657 (5674)
Interest expense 利息開支 102444 1068
New leases 新租賃 – 7862
Foreign exchange movements 外匯變動 3124 (399)
As at 31 December 2023 and 於二零二三年十二月三十一日
1 January 2024 及二零二四年一月一日 2099561 22205
Changes from financing cash flows 融資現金流量變動 1086 (5694)
Interest expense 利息開支 101511 1061
New leases 新租賃 – 5745
Foreign exchange movements 外匯變動 (4219) (337)
As at 31 December 2024 於二零二四年十二月三十一日 2197939 22980
(c) Total cash outflow for leases (c) 租賃現金流出總額
The total cash outflow for leases included in the statement 計入現金流量表的租賃現金流出總
of cash flows is as follows: 額如下：
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Within operating activities 經營活動內 2693 2383
Within financing activities 融資活動內 5694 5674
Total 總計 8387 8057406 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 407
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
40. PARTLY-OWNED SUBSIDIARIES WITH 40. 有重大非控股權益之非全資子
MATERIAL NON-CONTROLLING INTERESTS 公司
Details of the Group’s subsidiaries that have material 本集團具有重大非控股權益之子公司之
non-controlling interests are set out below: 詳情如下：
20242023
二零二四年二零二三年
Percentage of interest held by 非控股權益持有權益比率：
non-controlling interests:
Hua Hong Manufacturing 華虹製造 49% 49%
Hua Hong Wuxi 華虹無錫 49% 49%
The board of directors is the supreme governing body for Hua 董事會為華虹無錫的最高管理機構，由Hong Wuxi in which non-controlling shareholders hold three 七名董事組成，其中三名董事為非控股seats out of seven. Therefore the proportion of voting rights is 股東。因此，投票權比例不同於上述所different from that of the ownership interest above. 有權權益比例。
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Loss for the year allocated to 分配至非控股權益之年內虧損：
non-controlling interests:
Hua Hong Wuxi 華虹無錫 (174455) (150000)
Hua Hong Manufacturing 華虹製造 (24038) (3609)
(198493)(153609)
Accumulated balances of non-controlling 於報告日期非控股權益累計結餘：
interests at the reporting date:
Hua Hong Wuxi 華虹無錫 750194 936596
Hua Hong Manufacturing 華虹製造 1909399 776953
2659593 1713549408 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 409
NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
40. PARTLY-OWNED SUBSIDIARIES WITH 40. 有重大非控股權益之非全資子
MATERIAL NON-CONTROLLING INTERESTS 公司（續）
(continued)
The following tables illustrate the summarised financial 下表概述上述子公司的財務資料，所披information of the above subsidiary. The amounts disclosed 露之金額為任何公司間抵銷前之金額：
are before any inter-company eliminations:
Hua Hong Wuxi華虹無錫
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Revenue 銷售收入 1006948 995981
Other income 其他收入 17878 61382
Total expenses 開支總額 (1380856) (1357791)
Loss and total comprehensive loss 年內虧損及全面虧損總額
for the year (356030) (300428)
Current assets 流動資產 1351216 1248003
Non-current assets 非流動資產 2516963 2846165
Current liabilities 流動負債 653614 475938
Non-current liabilities 非流動負債 1678009 1701179
Net cash flows generated from operating 經營活動所得現金流量淨額
activities 272611 219745
Net cash flows used in investing activities 投資活動所用現金流量淨額 (200949) (533561)
Net cash flows used in financing activities 融資活動所用現金流量淨額 (40283) (50119)
Effect of foreign exchange rate changes 外匯匯率變動影響，淨額net (8967) (13819)
Net increase/(decrease) in cash and cash 現金及現金等價物增加╱
equivalents （減少）淨額 22412 (377754)408 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 409
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
40. PARTLY-OWNED SUBSIDIARIES WITH 40. 有重大非控股權益之非全資子
MATERIAL NON-CONTROLLING INTERESTS 公司（續）
(continued)
The following tables illustrate the summarised financial 下表概述上述子公司的財務資料，所披information of the above subsidiaries. The amounts disclosed 露之金額為任何公司間抵銷前之金額：
are before any inter-company eliminations:
Hua Hong Manufacturing華虹製造
20242023
二零二四年二零二三年
US$’000 US$’000千美元千美元
Revenue 銷售收入 485 –
Other income 其他收入 34905 9002
Total expenses 開支總額 (84572) (16450)
Loss and total comprehensive loss 年內虧損及全面虧損總額
for the year (49182) (7448)
Current assets 流動資產 1778408 1444804
Non-current assets 非流動資產 2896429 357112
Current liabilities 流動負債 606185 103430
Non-current liabilities 非流動負債 172126 112951
Net cash flows used in operating activities 經營活動所用現金流量淨額 (84512) (8487)
Net cash flows used in investing activities 投資活動所用現金流量淨額 (2359696) (260150)
Net cash flows generated from financing 融資活動所得現金流量淨額
activities 2472698 1772576
Effect of foreign exchange rate changes 外匯匯率變動影響，淨額net (27379) (18123)
Net increase in cash and cash equivalents 現金及現金等價物增加淨額 1111 1435816
41. EVENT AFTER THE REPORTING PERIOD 41. 報告期後事項
There is no material subsequent event undertaken by the 於二零二四年十二月三十一日後，本集Group after 31 December 2024. 團並無進行重大後續事項。410 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 411NOTES TO FINANCIAL STATEMENTS
財務報表附註 31 December 2024二零二四年十二月三十一日
42. STATEMENT OF FINANCIAL POSITION OF 42. 本公司的財務狀況表
THE COMPANY
Information about the statement of financial position of the 有關本公司於報告期末的財務狀況表資
Company at the end of the reporting period is as follows: 料載列如下：
31 December 31 December
20242023
二零二四年二零二三年十二月三十一日十二月三十一日
US$’000 US$’000千美元千美元
NON-CURRENT ASSETS 非流動資產
Investments in subsidiaries 投資於子公司 4795657 4267223
Total non-current assets 非流動資產總額 4795657 4267223
CURRENT ASSETS 流動資產
Trade and notes receivables 貿易應收款項及應收票據 2481 2680
Prepayments other receivables and other 預付款項、其他應收款項及
assets 其他資產 307 360
Due from a subsidiary 應收子公司款項 1001 1001
Restricted and time deposits 已凍結及定期存款 33 27
Cash and cash equivalents 現金及現金等價物 457551 1021676
Total current assets 流動資產總額 461373 1025744
CURRENT LIABILITIES 流動負債
Other payables and accruals 其他應付款項及暫估費用 712 801
Due to subsidiaries 應付子公司款項 96467 98701
Total current liabilities 流動負債總額 97179 99502
NET CURRENT ASSETS 流動資產淨額 364194 926242
TOTAL ASSETS LESS CURRENT 資產總值減流動負債
LIABILITIES 5159851 5193465
Net assets 淨資產 5159851 5193465
EQUITY 權益
Share capital (note 30) 股本（附註30） 4938457 4933559
Reserves (note) 儲備（附註） 221394 259906
Total equity 權益總額 5159851 5193465
Junjun Tang Jun Ye唐均君葉峻
Director Director
董事 董事410 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED 411
NOTES TO FINANCIAL STATEMENTS
31 December 2024
二零二四年十二月三十一日財務報表附註
42. STATEMENT OF FINANCIAL POSITION OF 42. 本公司的財務狀況表（續）
THE COMPANY (continued)
Note: 附註：
A summary of the Company’s reserves is as follows: 本公司的儲備概述如下：
Other Share option Retained
reserve reserve profits Total其他儲備購股權儲備留存溢利總計
US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元
As at 1 January 2023 於二零二三年一月一日 (68260) 14434 180048 126222
Profit for the year 年內溢利 – – 134079 134079
Equity-settled share option 以權益結算的購股權安排
arrangements – 853 – 853
Issue of shares 發行股份 – (1248) – (1248)
At 31 December 2023 and 1 於二零二三年十二月三十一日
January 2024 及二零二四年一月一日 (68260) 14039 314127 259906
Profit for the year 年內溢利 – – (1082) (1082)
Equity-settled share option 以權益結算的購股權安排
arrangements – 18 – 18
Dividends 股息 – – (36233) (36233)
Issue of shares 發行股份 – (1215) – (1215)
As at 31 December 2024 於二零二四年十二月三十一日 (68260) 12842 276812 221394
43. APPROVAL OF THE FINANCIAL 43. 財務報表的批准
STATEMENTS
The financial statements were approved and authorised for 財務報表已於二零二五年三月二十七日
issue by the board of directors on 27 March 2025. 獲董事會批准及授權刊發。412 HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 ● 2024 ANNUAL REPORT 年度報告 年度報告 ANNUAL REPORT 2024 ● 華虹半導體有限公司 HUA HONG SEMICONDUCTOR LIMITED PBFIVE YEAR FINANCIAL SUMMARY五年財務概覽
A summary of the results and of the assets liabilities and 下文載列本集團於最近五個財政年度的業績
non-controlling interests of the Group for the last five financial years 以及資產、負債及非控股權益的概要，有關as extracted from the published audited financial statements is set 資料乃摘錄自已刊發經審核財務報表。
out below.Year ended 31 December截至十二月三十一日止年度
20242023202220212020
二零二四年二零二三年二零二二年二零二一年二零二零年
US$’000 US$’000 US$’000 US$’000 US$’000千美元千美元千美元千美元千美元
RESULTS 業績
REVENUE 銷售收入 2003993 2286113 2475488 1630754 961279
Cost of sales 銷售成本 (1798865) (1799017) (1631832)) (1179156) (726486)
Gross profit 毛利 205128 487096 843656 451598 234793
Other income and gains 其他收入及收益 149072 144370 70986 60758 57313
Fair value gain on an investment property 投資物業的公平值收益 (39) 103 78 183 198
Selling and distribution expenses 銷售及分銷費用 (9628) (10189) (12464) (10673) (8169)
Administrative expenses 管理費用 (351276) (322868) (266666) (198920) (261139)
Other expenses 其他費用 (33395) (33666) (111360) (165) (10)
Finance costs 財務費用 (97113) (100497) (40331) (13226) (2968)
Share of profits of associates 分佔聯營公司溢利 3459 9230 12171 6765 26059
PROFIT BEFORE TAX 稅前溢利 (133792) 173579 496070 296320 46077
Income tax expense 所得稅開支 (6593) (47154) (89499) (65349) (12762)
(LOSS)/PROFIT FOR THE YEAR 年內（虧損）╱溢利 (140385) 126425 406571 230971 33315
Attributable to: 以下各項應佔：
Owners of the parent 母公司擁有人 58108 280034 449912 261476 99443
Non-controlling interests 非控股權益 (198493) (153609) (43341) (30505) (66128)
(140385)12642540657123097133315
As at 31 December於十二月三十一日
20242023202220212020
二零二四年二零二三年二零二二年二零二一年二零二零年
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
Total assets 資產總值 12415108 10943420 7055376 6202099 4568586
Total liabilities 負債總額 (3508489) (2928876) (2919908) (2517552) (1214465)
Non-controlling interests 非控股權益 (2659593) (1713549) (1104998) (814188) (825679)
62470266300995303047028703592528442
沪公网安备31011802005267号
