华虹宏力(688347):港股公告：截至二零二六年六月三十日止六个月中期业绩公告
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 GRACE SEMICONDUCTOR LIMITED 華虹宏力半導體有限公司 （於香註冊成立之有限公司） （股份代號：01347） 截至二零二六年六月三十日止六個月 中期業績公告 華虹宏力半導體有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及其子公司截至二零二六年六月三十日止六個月的未經審核綜合業績。 本公告載列本公司二零二六年中期報告全文，並符合香聯合交易所有限公司（「香聯交所」）證券上市規則有關中期業績初步公告附載資料之相關規定。 本公司二零二六年中期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 華虹宏力半導體有限公司 董事會主席兼執行董事 白鵬博士 中國上海，二?二六年八月二十六日 於本公告日期，本公司董事分別為： 執行董事： 白鵬（董事會主席兼總裁） 非執行董事： 葉峻 孫國棟 陳博 熊承艷 DEFINITIONS In this interim report, unless the context otherwise requires, the following terms shall have the meanings set out below. “Board” the Board of Directors of the Company; “China” or “the PRC” the People’s Republic of China, but for the purpose of this interim report and for geographical reference only, except where the context otherwise requires, references in this interim report to “China” and the “PRC” do not include Taiwan, the Macau Special Administrative Region and Hong Kong; “Company” or “our Hua Hong Grace Semiconductor Limited, formerly known as Hua Hong Semiconductor Company” Limited, a company incorporated in Hong Kong with limited liability in January 2005, and completed its name change in May 2026; “Director(s)” the Director(s) of the Company; “Group” our Company and our subsidiaries; “HHGrace Shanghai” 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 in January 2013 and a wholly- owned subsidiary of the Company; “Hong Kong 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; “Hong Kong Model Code” the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Hong Kong Listing Rules; “Hong Kong SFO” the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as amended or supplemented from time to time; “Hong Kong Stock The Stock Exchange of Hong Kong Limited; Exchange” “Hua Hong Wuxi” Hua Hong Semiconductor (Wuxi) Limited (華虹半導體(無錫)有限公司), a company incorporated in the PRC in October 2017 and held as to 51% by the Group; “Huali Micro” Shanghai Huali Microelectronics Corporation (上海華力微電子有限公司), a company incorporated in the PRC in January 2010 and completed the company division in August 2025, a connected person of the Company; “RMB Share(s)” or the ordinary share(s) of the Company which are listed on the STAR Market and traded “A Share(s)” in RMB;CORPORATE INFORMATION Board of Directors Hong Kong Legal Advisor Executive Director Herbert Smith Freehills Kramer Peng Bai (Chairman and President) 23/F, Gloucester Tower 15 Queen’s Road Central Non-Executive Directors Hong Kong, PRC Jun Ye Guodong Sun Principal Banks Bo Chen Chengyan Xiong China Construction Bank Shanghai Branch No. 900, Lujiazui Ring Road Independent Non-Executive Directors Pudong New Area Stephen Tso Tung Chang Shanghai, PRC Kwai Huen Wong, JP Songlin Feng China Development Bank Shanghai Branch No. 68, Puming Road Company Secretaries Pudong New Area Ka Ming Ho, Catherine (appointed on 12 May 2026) Shanghai, PRC Sui Har Lee (resigned on 12 May 2026) China Merchants Bank Co., Ltd. Shanghai Branch Authorized Representatives No.1088 Lujiazui Ring Road Peng Bai Pudong New Area Ka Ming Ho, Catherine Shanghai, PRC Audit Committee China Construction Bank Corporation Hong Kong Stephen Tso Tung Chang (Chairman) Branch Chengyan Xiong 28/F, CCB Tower, 3 Connaught Road, Central Songlin Feng Hong Kong, PRC Remuneration Committee Bank of Communications Co., Ltd. Hong Kong Branch Kwai Huen Wong, JP (Chairman) 20 Pedder Street, Central Jun Ye Hong Kong, PRC Songlin Feng China Development Bank Jiangsu Branch Nomination Committee No. 232, Middle Jiangdong Road Peng Bai (Chairman) Nanjing, Jiangsu, PRC Kwai Huen Wong, JP Songlin Feng Agricultural Bank of China Wuxi Xinwu SubbranchCORPORATE INFORMATION Bank of China Wuxi High and New Technology Industrial Development Zone Subbranch No. 140, Wangzhuang Road, Xinwu District Wuxi, Jiangsu, PRC Bank of Communications Co., Ltd. Wuxi Branch No.8, 2nd Financial Street, Binhu District Wuxi, Jiangsu, PRC Share Registrar Hong Kong shares: Tricor Investor Services Limited 17/F, Far East Finance Centre 16 Harcourt Road Hong Kong, PRC A shares: China Securities Depository and Clearing Corporation Limited, Shanghai Branch No. 188 South Yanggao Road Pudong New Area Shanghai, PRC Registered Office Room 2212, Bank of America Tower 12 Harcourt Road, Central Hong Kong, PRC Principal Places of Business No. 288 Halei Road Pudong New Area Shanghai, PRC Postcode: 201203 No. 30, 30-1, 30-2, Xinzhou RoadKEY FINANCIALS Revenue Gross profit margin US$ million % 1,600 20.0% 1,378.5 1,400 14.8% 1,107.0 1,200 15.0% 938.5 1,000 10.1% 800 10.0% 8.5% 600 400 5.0% 200 0 0.0% 1H 2024 1H 2025 1H 2026 1H 2024 1H 2025 1H 2026 Profit attributable to owners of the parent Earning per share US$ million US$ 0.04 70 59.6 0.034 60 50 38.5 0.022 40 0.02 30MANAGEMENT DISCUSSION AND ANALYSIS Financial Performance 1H 2026 1H 2025 Change US$’000 US$’000 Unaudited Unaudited Revenue 1,378,462 1,107,002 24.5% Cost of sales (1,173,999) (995,394) 17.9% Gross profit 204,463 111,608 83.2% Other income and gains 47,212 59,916 (21.2)% Selling and distribution expenses (5,319) (4,844) 9.8% Administrative expenses (206,951) (189,051) 9.5% Impairment losses on trade and notes receivables (2,426) (1,132) 114.3% Other expenses (11) (17,300) (99.9)% Finance costs (57,104) (41,551) 37.4% Share of profits of associates 9,644 1,243 675.9% Loss before tax (10,492) (81,111) (87.1)% Income tax expense (2,897) (3,852) (24.8)% Loss for the period (13,389) (84,963) (84.2)% Attributable to: Owners of the parent 59,568 11,702 409.0% Non-controlling interests (72,957) (96,665) (24.5)% Revenue Revenue was a record high of US$1,378.5 million, an increase of 24.5% compared to 1H 2025, primarily driven by increased wafer shipments and improved average selling price. Cost of sales Cost of sales was US$1,174.0 million, an increase of 17.9% compared to 1H 2025, primarily due to increased wafer shipments and increased depreciation costs. Gross profit Gross profit was US$204.5 million, an increase of 83.2% compared to 1H 2025, primarily driven by improved average selling price and cost reduction efforts, partially offset by increased depreciation costs. Other income and gains Other income and gains were US$47.2 million, a decrease of 21.2% compared to 1H 2025, primarily due to decreased government subsidies and interest income, partially offset by increased foreign exchange gains.MANAGEMENT DISCUSSION AND ANALYSIS Impairment losses on trade and notes receivables Impairment losses on trade and notes receivables were US$2.4 million, an increase of 114.3% compared to 1H 2025, primarily due to increased trade receivables. Other expenses Other expenses were US$0.01 million, a decrease of 99.9% compared to 1H 2025, primarily due to foreign exchange gains in the current period as compared to foreign exchange losses in 1H 2025. Finance costs Finance costs were US$57.1 million, an increase of 37.4% compared to 1H 2025, primarily due to increased bank borrowings. Share of profits of associates Share of losses of associates were US$9.6 million, an increase of 675.9% compared to 1H 2025, due to increased profit realized by the associates. Income tax expense Income tax expense was US$2.9 million, a decrease of 24.8% compared to 1H 2025, primarily due to increased reversal of dividend withholding tax. Loss for the period As a result of the cumulative effect of the above factors, loss for the period was US$13.4 million, a reduction in loss of 84.2% compared to 1H 2025.MANAGEMENT DISCUSSION AND ANALYSIS Financial Status 30 June 31 December 2026 2025 Change US$’000 US$’000 Unaudited Audited Non-current assets Property, plant and equipment 7,286,266 6,676,442 9.1% Investment properties 226,803 219,772 3.2% Investment in associates 183,072 150,222 21.9% Equity instruments designated at fair value through other comprehensive income 787,420 478,799 64.5% Other non-current assets 321,199 321,840 (0.2)% Total non-current assets 8,804,760 7,847,075 12.2% Current assets Inventories 584,782 544,368 7.4% Trade and notes receivables 322,463 282,053 14.3% Other current assets 936,223 786,974 19.0% Time and pledged deposits 45,355 99,494 (54.4)% Cash and cash equivalents 4,532,224 4,893,808 (7.4)% Total current assets 6,421,047 6,606,697 (2.8)% Current liabilities Trade payables 289,753 330,370 (12.3)% Interest-bearing bank borrowings 1,902,063 403,748 371.1% Government grants 115,740 89,049 30.0% Other current liabilities 866,545 1,033,054 (16.1)% Total current liabilities 3,174,101 1,856,221 71.0% Net current assets 3,246,946 4,750,476 (31.7)% Non-current liabilities Interest-bearing bank borrowings 1,665,485 2,787,096 (40.2)% Other non-current liabilities 688,792 646,224 6.6% Total non-current liabilities 2,354,277 3,433,320 (31.4)% Net assets 9,697,429 9,164,231 5.8%MANAGEMENT DISCUSSION AND ANALYSIS Explanation of items with fluctuation over 10% from 31 December 2025 to 30 June 2026 Investment in associates Investments in associates increased from US$150.2 million to US$183.1 million, primarily due to profits generated by associates. Equity instruments designated at fair value through other comprehensive income Equity instruments designated at fair value through other comprehensive income increased from US$478.8 million to US$787.4 million, primarily due to increase in fair value of investee companies and a new investment. Trade and notes receivables Trade and notes receivables increased from US$282.1 million to US$322.5 million, primarily due to increased revenue. Other current assets Other current assets increased from US$787.0 million to US$936.2 million, primarily due to increased value-added tax credit. Time and pledged deposits Time and pledged deposits decreased from US$99.5 million to US$45.4 million, primarily due to the maturity of time deposits. Trade payables Trade payables decreased from US$330.4 million to US$289.8 million, mainly due to decreased payables to suppliers. Government grants Government grants increased from US$89.0 million to US$115.7 million, primarily due to subsidies received for government projects. Other current liabilities Other current liabilities decreased from US$1,033.1 million to US$866.5 million, primarily due to decreased payables for capital expenditures, partially offset by increased contract liabilities from customers. Interest-bearing bank borrowings Total interest-bearing bank borrowings increased from US$3,190.8 million to US$3,567.5 million, primarily due to increase in drawdowns of bank borrowings.MANAGEMENT DISCUSSION AND ANALYSIS Cash Flow 1H 2026 1H 2025 Change US$’000 US$’000 Unaudited Unaudited Net cash flows generated from operating activities 468,481 219,816 113.1% Net cash flows used in investing activities (1,188,153) (879,847) 35.0% Net cash flows generated from financing activities 232,703 33,952 585.4% Net decrease in cash and cash equivalents (486,969) (626,079) (22.2)% Cash and cash equivalents at beginning of the period 4,893,808 4,459,132 9.7% Effect of foreign exchange rate changes, net 125,385 13,847 805.5% Cash and cash equivalents at end of the period 4,532,224 3,846,900 17.8% Net cash flows generated from operating activities Net cash flows generated from operating activities increased from US$219.8 million to US$468.5 million, primarily driven by increased receipts from customers. Net cash flows used in investing activities Net cash flows used in investing activities were US$1,188.2 million, primarily including US$1,281.4 million for capital expenditure and US$16.0 million for equity instrument investment, partially offset by (i) US$57.8 million of maturity of time deposits, (ii) US$25.4 million of receipts of government grants, (iii) US$18.7 million of interest income, (iv) US$7.3 million of dividends received from an associate, and (v) US$0.2 million of proceeds from disposal of equipment. Net cash flows generated from financing activities Net cash flows generated from financing activities were US$232.7 million, including (i) US$850.9 million of drawdowns of bank borrowings and (ii) US$3.4 million of proceeds from the exercise of share options, partially offset by (i) US$569.8 million of repayments of bank borrowings, (ii) US$49.7 million of interest payments, and (iii) US$2.1 million payment of principal portion of lease payments. Financial Resources The Group adopts a prudent approach to cash and financial management to ensure proper risk control and low cost of funds. The Group finances its operations primarily with internally generated cash flow and bank loans. As at 30 June 2026, the Group had cash and bank balances of approximately US$4,532.2 million (of which approximately US$3,898.3 million were denominated in RMB and approximately US$585.9 million in US dollars), representing a decrease of US$361.6 million as compared to US$4,893.8 million at the end of 2025.MANAGEMENT DISCUSSION AND ANALYSIS Capital Management Our primary objectives of capital management are to safeguard our ability to continue as a going concern and to maintain healthy capital ratios to support our business and maximize shareholders’ value. We manage our capital structure and make adjustments in light of the changes in economic conditions. To do this, we may adjust the dividend payment to shareholders, return capital to shareholders, or issue new shares. We are not subject to any externally imposed capital requirements. No changes were made in the objectives, policies, or processes for managing capital during the six months ended 30 June 2026. Bank Loans The particulars of bank loans of the Group as at 30 June 2026 are set out as below: 30 June 2026 31 December 2025 US$’000 US$’000 Current Short term bank loans – unsecured 146,901 – Current portion of long term bank loans – secured 554,566 370,445 Current portion of long term bank loans – unsecured 1,200,596 33,303 1,902,063 403,748 Non-current Secured bank loans 1,302,536 1,576,623 Unsecured bank loans 362,949 1,210,473 1,665,485 2,787,096 3,567,548 3,190,844 The Group is dedicated to improving financing practices. As at 30 June 2026, the Group had outstanding bank borrowings of US$3,567.5 million, compared to US$3,190.8 million as at the end of 2025. The bank borrowings included secured interest-bearing borrowings of US$1,857.1 million and unsecured interest-bearing borrowings of US$1,710.4 million. Except for bank loans of US$576.3 million denominated in US$, all borrowings are dominated in RMB.MANAGEMENT DISCUSSION AND ANALYSIS Charges on Group Assets As at 30 June 2026 and 31 December 2025, certain of the Group’s bank loans were secured by pledges of the Group’s assets with carrying values as follows: 30 June 2026 31 December 2025 US$’000 US$’000 Property, plant and equipment 1,980,964 2,475,944 Investment property 50,254 52,176 Right-of-use assets 29,630 34,052 Completed properties held for sale 211,603 215,511 2,272,451 2,777,683 Exposure to Fluctuations in Exchange Rates We have transactional currency exposures arising primarily from sales or purchases by our significant subsidiaries ’ operating in Chinese mainland in US$ rather than the subsidiarys functional currency, which is RMB. During the six months ended 30 June 2026, approximately 21% of our sales were denominated in currencies other than the functional ’ currency of the subsidiary making the sale, whilst 59% of costs of sales were denominated in the subsidiarys functional currency. In addition, we have foreign currency exposures from interest-bearing bank borrowings held by our subsidiary operating in Chinese mainland. As at 30 June 2026, interest-bearing bank borrowings with a carrying amount of ’ US$577 million were denominated in US$ instead of the subsidiary s functional currency, which is RMB. As at 30 June 2026, if the US dollar had strengthened or weakened against the RMB by 5%, with all other variables held constant, our profit before tax for the period would have been approximately US$29 million lower or higher. For the six months ended 30 June 2026, the Group had not entered into any arrangement to hedge the aforementioned ’ foreign currency risks. Nevertheless, the Companys management will continue to monitor the foreign exchange exposure position and will consider appropriate measures should the need arise.MANAGEMENT DISCUSSION AND ANALYSIS Contingent Liabilities As at 30 June 2026, the Group did not have any contingent liabilities. RMB Share Issue On 7 August 2023, the Company was listed on the STAR Market of the Shanghai Stock Exchange, pursuant to which a total of 407,750,000 ordinary shares of the Company were issued. The total proceeds raised in the RMB Share Issue amounted to RMB21,203 million. After deducting the issuance expenses, including underwriting, sponsorship fees, as well as other issuance expenses, the net proceeds amounted to RMB20,921 million. Upon receipt of the proceeds, the entire amount has been deposited into a dedicated account for the proceeds, which was approved by the Board. The proceeds raised have been utilized in accordance with the previously disclosed intended use of the proceeds, as set out below: Unit: RMB’000 Amount of Accumulated Expected timeframe committed unutilized proceeds for usage of Previously disclosed intended use of proceeds investments as at 30 June 2026 unutilized proceeds Hua Hong Manufacturing (Wuxi) Project 12,500,000 7,264 By the end of 2026 8-Inch Factory Optimization and Upgrading Project 2,000,000 134,085 By the end of 2026 Specialty Technological Innovation, Research and 2,500,000 132,277 By the end of 2026 Development Project Replenishment of Working Capital 1,000,000 0 N/A Apart from the above, the surplus proceeds of RMB2,921 million, raised from the RMB Share Issue, will also be used ’ for the Group s business operations upon obtaining the necessary approvals, in accordance with relevant regulations. During the six months ended 30 June 2026, the proceeds from the RMB Share Issue were used and were proposed to be used, according to the intentions previously disclosed by the Company in the prospectus, and there was no material change or delay in the use of proceeds.MANAGEMENT DISCUSSION AND ANALYSIS Proposed Acquisition and Proposed Non-public Issuance of RMB Shares As disclosed in the Company’s announcements dated 31 August 2025 and 31 December 2025 and the Company’s circular dated 22 January 2026, the Company proposes to acquire 97.4988% equity interest in Huali Micro by way of issuance of consideration RMB Shares. The appraised value of 100% equity interest of Huali Micro is RMB8,480 million, and the total consideration for its 97.4988% equity interest is approximately RMB8,268 million. According to the relevant laws and regulations of the PRC, the issue price of the consideration shares for this acquisition is RMB43.34 per consideration share, and the number of issued shares is 190,768,392. Upon the completion of this acquisition, the Group will hold 100% of Huali Micro. Taking into account the future capital requirements of the Company, in addition to acquisition, the Board further approved and proposed proceeds raised of RMB7,556.29 million, being (i) not more than 100% of the final total consideration of the proposed acquisition, and (ii) the number of RMB shares to be issued shall not exceed 30% of the total issued share capital of the Company upon completion of the proposed acquisition. The proceeds raised will be used for the upgrading, R&D and industrialization of the production line of the Huali Micro, and to supplement the Company’s working capital. The issue period, price determination date and specific issue time of the proposed non-public offering of RMB Shares will be determined by the Company and the PRC independent financial advisor after due consideration of the market conditions and the intended use of proceeds. The Proposed Acquisition, Proposed Non-public Issuance of RMB Shares and the transaction contemplated thereunder were, amongst others, approved by the independent shareholders at the EGM held on 10 February 2026. As of the date of this report, all conditions precedent to the Company’s proposed acquisition have been satisfied. Business Review In the first half of 2026, the global economic growth remained structurally uneven, with full-year growth rate projected at approximately 3.0%, constrained primarily by geopolitical tensions, oil price volatility, and monetary policy divergences. After a post-destocking recovery, the global semiconductor industry entered a structural upcycle driven by AI infrastructure. Demand expanded from memory and advanced logic to server-related and mature-node products, including power management ICs, microcontrollers, and power discrete devices. The spillover effect supported a comprehensive recovery in mature-node and specialty process products, higher foundry utilization, as well as a rebound in wafer prices. In the first half of 2026, the Company recorded revenue of US$1.378 billion, achieving a year-on-year increase of 24.5%, with shipments growing by 17.9% to a record high. Growth was driven by strong end-market demand, the ramp-up of its 12-inch capacity, improved manufacturing flexibility, continuous technological iteration and product mix optimization. The company achieved growth in both volume and price and, as of the second quarter of 2026, has delivered sequential revenue growth for 10 consecutive quarters. Demand remained strong across power MANAGEMENT DISCUSSION AND ANALYSIS The Company continued to advance technological R&D and innovation. Its 40nm eFlash platform entered risk production, while its automotive-grade 55nm eFlash platform entered product adoption. The next-generation small- pitch IGBT platform, high-voltage Super-junction and Super IGBT processes entered mass production. In collaboration with a leading overseas customer, the 40nm MCU entered mass production, breaking into global high-end MCU markets. The 40nm ultra-low-power specialty process also entered mass production. Power management products continued to gain shares in automotive electronics, with multiple generations of process platforms entering large- scale production, further enhancing its technological competitiveness. Meanwhile, the company actively expanded its business with leading domestic and international customers, and strengthened its presence in high-end consumer electronics, automotive electronics, and new energy through industry ecosystem collaboration. In terms of production capacity expansion, all equipment required for the planned monthly capacity of 83k wafers at Wuxi Phase II project (Fab 9) has been fully moved in by the end of June 2026. Installation and qualification are proceeding intensively, with planned capacity expected to be reached by the end of the third quarter. The company is also progressing its proposed acquisition of 97.5% equity interest in Huali Micro. The transaction passed regulatory review in mid-June and is expected to be closed in the third quarter. The integration of Huali Micro will expand the 12- inch capacity and complement its existing platforms, enabling broader application coverage, more comprehensive technical solutions and enriched product offerings. Looking ahead to the second half of 2026, the global semiconductor industry is expected to maintain its strong structural momentum. Meanwhile, the company will continue to expand capacity, accelerate process innovation, expand its domestic and international businesses, and continue its cost-down and efficiency-enhancement initiatives. Through these efforts, the Company will seek to drive earnings growth, enhance its resilience to market volatility, and strive to provide global customers with more comprehensive, high-quality specialty process wafer foundry technologies and services. Significant Investment ’ The Company did not hold any significant investment (with a value of 5% or more of the Groups total assets) as of 30 June 2026. Future Plans for Material Investments and Capital Assets Save as disclosed in this interim report, the Group did not have other concrete plans for material investments or capital assets as of 30 June 2026. Any relevant information shall be based on the announcements to be released by the Company in the designated information disclosure media in due course. Interim Dividend釋義 於本中期報告內，除非文義另有所指，否則下列詞彙具有下文所載涵義。 「董事會」 本公司董事會； 「中國」 中華人民共和國，但僅就本中報及作地理參考而言，除文義另有所指，否則，本中報對 「中國」的提述不括台灣、澳門特別行政區及香； 「本公司」 華虹宏力半導體有限公司，曾名為華虹半導體有限公司，一家於二零零五年一月在香註 冊成立的有限公司，並於二零二六年五月完成名稱變更； 「董事」 本公司董事； 「本集團」 本公司及我們的子公司； 「華虹宏力上海」 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在中國註冊成立的公司，為本 公司的全資子公司； 「香上市規則」 《香聯合交易所有限公司證券上市規則》（經不時修訂或補充）； 「香標準守則」 香上市規則附錄C3所載的《上市發行人董事進行證券交易的標準守則》； 「香證券及期貨條例」 香法例第571章《證券及期貨條例》（經不時修訂或補充）； 「香聯交所」 香聯合交易所有限公司； 「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在中國註冊成立的公司，由本集團持 有51%股份； 「華力微」 上海華力微電子有限公司，一家於二零一零年一月在中國註冊成立的公司，並於二零二五 年八月完成公司分立，為本公司關連人士； 「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； 「上交所」 上海證券交易所； 「上交所科創板」 上海證券交易所科創板； 「無錫二期」 華虹半導體製造（無錫）有限公司，一家於二零二二年六月在中國註冊成立的公司，由本集 團持有51%股份。公司資料 董事會 香法律顧問 執行董事 史密夫斐爾律師事務所 白鵬（主席兼總裁） 中國香 皇后大道中15號 非執行董事 告羅士打大廈23樓 葉峻 孫國棟 主要往來銀行 陳博 熊承艷 中國建設銀行上海市分行 中國上海市 獨立非執行董事 浦東新區 張祖同 陸家嘴環路900號 王桂壎，太平紳士 封松林 國家開發銀行上海分行 中國上海市 公司秘書 浦東新區 何嘉明（於二零二六年五月十二日獲委任） 浦明路68號 李瑞霞（於二零二六年五月十二日辭任） 招商銀行股份有限公司上海分行?業部 授權代表 中國上海市 白鵬 浦東新區 何嘉明 陸家嘴環路1088號 審核委員會 中國建設銀行股份有限公司香分行 張祖同（主席） 中國香中環 熊承艷 干諾道中3號中國建設銀行大廈28樓 封松林 交通銀行股份有限公司香分行 薪酬委員會 中國香中環 王桂壎，太平紳士（主席） 畢打街20號 葉峻 封松林 國家開發銀行江蘇分行 中國江蘇省南京市 提名委員會 江東中路232號 白鵬（主席） 王桂壎，太平紳士 中國農業銀行無錫新吳支行 封松林 中國江蘇省無錫市 新吳區和風路26號 網址公司資料 中國銀行無錫高新技術產業開發區支行 中國江蘇省無錫市 新吳區旺莊路140號 交通銀行股份有限公司無錫分行 中國江蘇省無錫市 濱湖區金融二街8號 股份過戶登記處 股： 卓佳證券登記有限公司 中國香 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 中國香中環 夏愨道12號 美國銀行中心2212室 主要?業地點 中國上海市 浦東新區 哈雷路288號 郵編：201203 中國江蘇省無錫市 新吳區 新洲路30號、30-1號、30-2號主要財務指標 銷售收入 毛利率 百萬美元 % 1,600 20.0% 1,378.5 1,400 14.8% 1,200 1,107.0 15.0% 938.5 1,000 10.1% 800 10.0% 8.5% 600 400 5.0% 200 0 0.0% 二零二四年上半年 二零二五年上半年 二零二六年上半年 二零二四年上半年 二零二五年上半年 二零二六年上半年 母公司擁有人應佔溢利 每股盈利 百萬美元 美元 70 0.04 59.6 0.034 60 50 38.5 0.022 40 0.02 30管理層討論及分析 財務表現 二零二六年 二零二五年 上半年 上半年 變動 千美元 千美元 未經審核 未經審核 銷售收入 1,378,462 1,107,002 24.5% 銷售成本 (1,173,999) (995,394) 17.9% 毛利 204,463 111,608 83.2% 其他收入及收益 47,212 59,916 (21.2)% 銷售及分銷費用 (5,319) (4,844) 9.8% 管理費用 (206,951) (189,051) 9.5% 貿易應收款項及應收票據減值損失 (2,426) (1,132) 114.3% 其他費用 (11) (17,300) (99.9)% 財務費用 (57,104) (41,551) 37.4% 分佔聯?公司溢利 9,644 1,243 675.9% 稅前虧損 (10,492) (81,111) (87.1)% 所得稅開支 (2,897) (3,852) (24.8)% 期內虧損 (13,389) (84,963) (84.2)% 以下各項應佔： 母公司擁有人 59,568 11,702 409.0% 非控股權益 (72,957) (96,665) (24.5)% 銷售收入 銷售收入創歷史新高，達13.785億美元，較二零二五年上半年增長24.5%，主要得益於付運晶圓數量增加及平均銷售價格 提升。 銷售成本 銷售成本為11.740億美元，較二零二五年上半年上升17.9%，主要由於付運晶圓數量增加及折舊成本上升所致。 毛利 毛利為2.045億美元，較二零二五年上半年上升83.2%，主要得益於平均銷售價格提升及降本增效，部分被折舊成本上升所 抵銷。 其他收入及收益 其他收入及收益為4,720萬美元，較二零二五年上半年減少21.2%，主要由於政府補貼及利息收入減少，部分被外幣匯兌收 益增加所抵銷。管理層討論及分析 貿易應收款項及應收票據減值損失 貿易應收款項及應收票據減值損失為240萬美元，較二零二五年上半年增長114.3%，主要由於貿易應收款項增加。 其他費用 其他費用為1萬美元，較二零二五年上半年減少99.9%，主要由於本期外匯匯兌收益而二零二五年上半年為外幣匯兌損失。 財務費用 財務費用為5,710萬美元，較二零二五年上半年上升37.4%，主要由於銀行借款增加所致。 分佔聯?公司溢利 分佔聯?公司溢利為960萬美元，較二零二五年上半年上升675.9%，乃由於聯?公司實現溢利增加。 所得稅開支 所得稅開支為290萬美元，較二零二五年上半年下降24.8%，主要由於轉回代扣代繳的股息稅金增加所致。 期內虧損 在上述因素的累計影下，期內虧損為1,340萬美元，較二零二五年上半年減虧84.2%。管理層討論及分析 財務狀況 二零二六年 二零二五年 六月三十日 十二月三十一日 變動 千美元 千美元 未經審核 經審核 非流動資產 物業、廠房及設備 7,286,266 6,676,442 9.1% 投資物業 226,803 219,772 3.2% 於聯?公司的投資 183,072 150,222 21.9% 指定按公平值計入其他全面收益的權益工具 787,420 478,799 64.5% 其他非流動資產 321,199 321,840 (0.2)% 非流動資產總額 8,804,760 7,847,075 12.2% 流動資產 存貨 584,782 544,368 7.4% 貿易應收款項及應收票據 322,463 282,053 14.3% 其他流動資產 936,223 786,974 19.0% 定期及已抵押存款 45,355 99,494 (54.4)% 現金及現金等價物 4,532,224 4,893,808 (7.4)% 流動資產總額 6,421,047 6,606,697 (2.8)% 流動負債 貿易應付款項 289,753 330,370 (12.3)% 計息銀行借款 1,902,063 403,748 371.1% 政府補助 115,740 89,049 30.0% 其他流動負債 866,545 1,033,054 (16.1)% 流動負債總額 3,174,101 1,856,221 71.0% 流動資產淨額 3,246,946 4,750,476 (31.7)% 非流動負債 計息銀行借款 1,665,485 2,787,096 (40.2)% 其他非流動負債 688,792 646,224 6.6% 非流動負債總額 2,354,277 3,433,320 (31.4)% 資產淨額 9,697,429 9,164,231 5.8% 管理層討論及分析 就二零二五年十二月三十一日至二零二六年六月三十日變動超過10%的項目的闡釋 於聯?公司的投資 於聯?公司的投資由1.502億美元增至1.831億美元，主要由於聯?公司實現收益所致。 指定按公平值計入其他全面收益的權益工具 指定按公平值計入其他全面收益的權益工具由4.788億美元增至7.874億美元，主要由於被投資公司公允價值上升及新增一 項投資所致。 貿易應收款項及應收票據 貿易應收款項及應收票據由2.821億美元增至3.225億美元，主要由於銷售收入的上升所致。 其他流動資產 其他流動資產由7.870億美元增至9.362億美元，主要由於增值稅留抵稅額增加所致。 定期及已抵押存款 定期及已抵押存款由9,950萬美元減至4,540萬美元，主要由於定期存款到期所致。 貿易應付款項 貿易應付款項由3.304億美元減至2.898億美元，主要由於應付供應商款項減少所致。 政府補助 政府補助由8,900萬美元增至1.157億美元，主要由於收到政府項目的補助款。 其他流動負債 其他流動負債由10.331億美元減至8.665億美元，主要由於資本開支的應付款項減少，部分被預收客戶合同負債款項增加 所抵銷。 計息銀行借款 計息銀行借款總額由31.908億美元增至35.675億美元，主要由於銀行借款提款增加所致。管理層討論及分析 現金流量 二零二六年 二零二五年 上半年 上半年 變動 千美元 千美元 未經審核 未經審核 經?活動所得現金流量淨額 468,481 219,816 113.1% 投資活動所用現金流量淨額 (1,188,153) (879,847) 35.0% 融資活動所得現金流量淨額 232,703 33,952 585.4% 現金及現金等價物減少淨額 (486,969) (626,079) (22.2)% 期初現金及現金等價物 4,893,808 4,459,132 9.7% 外匯匯率變動影，淨額 125,385 13,847 805.5% 期末現金及現金等價物 4,532,224 3,846,900 17.8% 經?活動所得現金流量淨額 經?活動所得現金流量淨額由2.198億美元增至4.685億美元，主要得益於來自客戶的收入增加。 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11.882億美元，主要括資本開支12.814億美元及權益工具投資支出1,600萬美元，部分被 (i)定期存款到期5,780萬美元，(ii)收到政府補助款項2,540萬美元，(iii)利息收入1,870萬美元，(iv)收到一家聯?公司分紅 730萬美元，及(v)處置設備收款20萬美元所抵銷。 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2.327億美元，括(i)提取銀行借款8.509億美元及購股權行使所得340萬美元，部分被(i)償 還銀行借款本金5.698億美元，(ii)償付利息4,970萬美元，及(iii)支付租賃付款的本金210萬美元所抵銷。 財務資源 本集團對現金及財務管理採取審慎的原則，以確保妥善管理風險及降低資金成本。本集團主要以內部產生現金流量及銀行 貸款為其?運提供資金。於二零二六年六月三十日，本集團的現金及銀行結餘約為45.322億美元（其中約38.983億美元以 人民幣計值，約5.859億美元以美元計值），較二零二五年底的48.938億美元減少3.616億美元。 流動資金 為滿足短期及長期流動資金需要，我們的政策為定期監控現時及預期流動資金需要，以確保維持充裕的現金儲備及從主要 金融機構獲得足夠的融資承擔額度。管理層討論及分析 資本管理 我們資本管理的首要目標為維護持續經?能力及維持良好的資本比率，以支持我們的業務及實現股東價值最大化。我們根 據經濟狀況的變動管理及調整資本架構。為此，我們或會調整派付予股東的股息、向股東返還資本或發行新股。我們不受 任何外部施加的資本要求規限。截至二零二六年六月三十日止六個月，管理資本的目標、政策或程序概無任何變動。 銀行貸款 本集團於二零二六年六月三十日的銀行貸款詳情載列如下： 二零二六年 二零二五年 六月三十日 十二月三十一日 千美元 千美元 流動 短期銀行貸款－無抵押 146,901 – 長期銀行貸款的即期部分－有抵押 554,566 370,445 長期銀行貸款的即期部分－無抵押 1,200,596 33,303 1,902,063 403,748 非流動 有抵押銀行貸款 1,302,536 1,576,623 無抵押銀行貸款 362,949 1,210,473 1,665,485 2,787,096 3,567,548 3,190,844 本集團致力於改善融資實務。於二零二六年六月三十日，本集團未償還銀行借款為35.675億美元，而於二零二五年底為 31.908億美元。銀行借款括有抵押計息借款18.571億美元及無抵押計息借款17.104億美元。除5.767億美元的銀行貸款 以美元計值外，所有借款以人民幣計值。管理層討論及分析 抵押集團資產 於二零二六年六月三十日及二零二五年十二月三十一日，本集團的若干銀行貸款由抵押本集團的資產作擔保，資產的賬面 值如下： 二零二六年 二零二五年 六月三十日 十二月三十一日 千美元 千美元 物業、廠房及設備 1,980,964 2,475,944 投資物業 50,254 52,176 使用權資產 29,630 34,052 持作待售的已竣工物業 211,603 215,511 2,272,451 2,777,683 匯率波動風險 我們面臨交易外匯風險，主要產生自我們在中國內地經?的重要子公司以美元進行的買賣，而並非以其功能貨幣人民幣進 行。截至二零二六年六月三十日止六個月，我們的銷售額中約21%乃以進行銷售的子公司的功能貨幣以外的貨幣計值，而 銷售成本中59%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?的子公司持有。於二零二六年六月三十日， 賬面值為5.77億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。 於二零二六年六月三十日，倘美元對人民幣升值或貶值5%，而所有其他變量維持不變，則我們的期內稅前溢利將減少或增 加約2,900萬美元。 截至二零二六年六月三十日止六個月，本集團並無訂立任何對沖上述外匯風險的安排。然而，本公司管理層將繼續監控外 匯風險狀況並在必要時考慮適當措施。管理層討論及分析 或然負債 於二零二六年六月三十日，本集團概無任何或然負債。 人民幣股份發行 於二零二三年八月七日，本公司在上海證券交易所科創板上市，據此發行合共407,750,000股本公司普通股。 人民幣股份發行的募集資金總額為人民幣212.03億元。扣除發行費用（括承銷、保薦費用和其他發行費用）後，募集資金 淨額為人民幣209.21億元。募集資金到賬後，已全部存放於經董事會批准開設的募集資金專項賬戶內。募集所得款項已按 照先前披露的所得款項計劃用途使用，詳情如下： 單位：人民幣千元 於二零二六年 六月三十日 未動用所得款項 先前披露的所得款項計劃用途 承諾投資金額 未動用所得款項累計 預計使用時間 華虹製造（無錫）項目 12,500,000 7,264 二零二六年底前 8英寸廠優化升級項目 2,000,000 134,085 二零二六年底前 特色工藝技術創新研發項目 2,500,000 132,277 二零二六年底前 補充流動資金 1,000,000 0 不適用 除上述募集資金項目及用途外，公司自人民幣股份發行所獲得的人民幣29.21億元超募資金也將按照相關規定，在履行必 要的程序後用於本集團主?業務。 截至二零二六年六月三十日止六個月，人民幣股份發行的募集資金已按照本公司之前在招股章程中披露的計劃使用或擬使 用，募集資金的用途概無發生重大變更或延遲。管理層討論及分析 建議收購事項及建議非公開發行人民幣股份 誠如本公司日期為二零二五年八月三十一日及二零二五年十二月三十一日的公告以及本公司日期為二零二六年一月二十二 日的通函所披露，本公司建議透過發行代價人民幣股份的方式收購華力微97.4988%的股權。華力微100%股權的評估值為 人民幣8,480百萬元，而其97.4988%股權的總代價約為人民幣8,268百萬元。根據中國有關法律法槼的規定，本次收購代 價股份的發行價為每股代價股份人民幣43.34元，發行數量為190,768,392。本次收購完成後，本集團將持有華力微100% 股份。 經考慮本公司未來資金需求，除收購事項外，董事會進一步批准及建議配套募集資金人民幣75.5629億元，即(i)不超過建 議收購事項最終總代價的100%，及(ii)將予發行的人民幣股份數目不得超過本公司於建議收購完成時已發行股本總額的 30%。募集資金將用於華力微產線升級改造、研發及產業化，及補充本公司流動資金之用途。建議非公開發行人民幣股份 的發行期、定價日及具體發行時間將由本公司及中國獨立財務顧問經充分考慮市況及募集資金擬定用途後確定。 建議收購事項、建議非公開發行人民幣股份及其項下擬進行的交易已於二零二六年二月十日舉行的股東特別大會上獲獨立 股東批准。截至本報告日，本公司建議收購事項的前置條件均已達成。 業務回顧 2026年上半年，全球經濟整體維持結構性特徵，不同領域呈現高、低雙速增長格局，全年增速預估約3.0%，地緣政治、 油價波動、貨幣政策分歧是核心擾動。全球半導體行業正在從去庫存後的復甦階段進入AI基礎設施驅動的結構性重估階 段，需求從存儲、先進邏輯等核心鏈條逐步向電源管理、微控制器、功率器件等服務器配套器件及通用成熟器件傳導。算 力周邊配套需求的溢出效應，帶動了電源管理、嵌入式非易失性存儲器、獨立式非易失性存儲器等成熟制程與特色工藝芯 片的景氣度全面回暖，晶圓代工行業產能利用率全面攀升，晶圓價格觸底回升。 2026年上半年公司?業收入達13.78億美元，同比增長24.5%，出貨量同比增長17.9%，創歷史新高。受益於終端市場的 高景氣拉動，疊加12英寸產線產能持續爬坡、生產柔性不斷改善，同時依托特色工藝持續迭代、產品結構優化升級，公司 構築產能與技術雙輪驅動的增長動能，整體呈現量價齊升發展態勢。截止2026第二季度已經連續10個季度?收環比呈現增 長趨勢。上半年電源管理、嵌入式非易失性存儲器、獨立式非易失性存儲器、中低壓功率器件平台需求強勁，產能供不應 求。其中電源管理平台銷售額同比增長接近40%，嵌入式非易失性存儲器平台同比增長超40%，獨立式非易失性存儲器平 台同比增長接近80%，表現亮眼。管理層討論及分析 公司持續進行技術研發創新，上半年40nm eFlash工藝平台實現風險量產，55nm eFlash車規平台實現產品導入，新一代小 Pitch IGBT平台量產，高壓超級結以及Super IGBT系列工藝進入量產；與海外頭部客戶合作的40nm MCU成功大量量產， 打通全球高端MCU應用渠道；40nm超低功耗特色工藝大量量產，深度佈局低功耗芯片賽道；電源管理平台產品在汽車電 子等高質量領域快速滲透，多代工藝平台大規模量產，工藝競爭力持續強化。同時公司積極拓展各領域海內外頭部客戶業 務，堅持全球多元化客戶佈局，並通過產業生態鏈協同進一步拓展高端消費、汽車電子、新能源等應用領域業務。 產能建設方面，截至2026年6月底，無錫二期項目(Fab 9) 83K產能所需工藝設備全部完成搬入，正在加緊安裝調試，計劃 於三季度末達成規劃產能目標。與此同時，公司同步推進收購華力微97.5%股權事宜，並於6月中旬過會，預計第三季度完 成交割。華力微併入後，公司將進一步提升12英寸晶圓代工產能，雙方的優勢工藝平台可實現深度互補，共同構建覆蓋更 廣泛應用場景、更齊全技術規格的晶圓代工及配套服務，能夠為客戶提供更多樣的技術解決方案，豐富產品體系。 展望2026年下半年，全球半導體將延續強結構性行情。同時公司將持續推進產能建設，加速工藝創新，積極拓展海內外業 務，持續降本增效，積極推動公司業績增長和提升應對市場波動的能力，努力為全球客戶提供更全面、更優質的特色工藝 晶圓代工技術與服務。 重大投資 截至二零二六年六月三十日，本集團並無持有任何重大投資（價值佔集團資產總值的5%或以上）。 重大投資及資本資產的未來計劃 除本中期報告所披露外，截至二零二六年六月三十日，本集團並無重大投資或資本資產的其他具體計劃。如有相關資料 將以本公司適時於指定信息披露媒體刊發的公告為準。 中期派息 經董事會充分考慮公司所處行業目前的行業格局、公司自身的發展階段和資本開支計劃等因素，董事會不建議派付截至二 零二六年六月三十日止半年度的股息（二零二五年：無）。REPORT ON REVIEW OF INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION 中期簡明綜合財務資料的審閱報告 To the board of directors of Hua Hong Grace Semiconductor 致華虹宏力半導體有限公司董事會 Limited (Incorporated in Hong Kong with limited liability) （於香註冊成立之有限公司） Introduction 引言 We have reviewed the interim financial information set out on pages 吾等已審閱載於第29至62頁的中期財務資 29 to 62 which comprises the condensed consolidated statement 料，其中括華虹宏力半導體有限公司（「貴 of financial position of Hua Hong Grace Semiconductor Limited 公司」，前稱華虹半導體有限公司）及其子公 (the “Company”, formerly known as Hua Hong Semiconductor 司（「貴集團」）於二零二六年六月三十日的 Limited) and its subsidiaries (the “Group”) as at 30 June 2026 and 簡明綜合財務狀況表及截至該日止六個月期 the related condensed consolidated statements of profit or loss, 間的相關簡明綜合損益表、全面收益表、權 comprehensive income, changes in equity and cash flows for the 益變動表及現金流量表以及解釋附註。香 six-month period then ended, and explanatory notes. The Rules 聯合交易所有限公司證券上市規則規定，須 Governing the Listing of Securities on The Stock Exchange of Hong 按照當中訂明的相關規定及香會計師公會 Kong Limited require the preparation of a report on interim financial （「香會計師公會」）頒佈的香會計準則第 information to be in compliance with the relevant provisions 34號中期財務報告（「香會計準則第34號」） thereof and Hong Kong Accounting Standard 34 Interim Financial 的規定就中期財務資料編製報告。 貴公司的 Reporting (“HKAS 34”) as issued by the Hong Kong Institute of 董事須負責根據香會計準則第34號編製及 Certified Public Accountants (“HKICPA”). The directors of the 列報本中期財務資料。吾等的責任是根據吾 Company are responsible for the preparation and presentation of 等的審閱對本中期財務資料作出結論，並按 this interim financial information in accordance with HKAS 34. Our 照吾等雙方協定的委聘條款，僅向全體董事 responsibility is to express a conclusion on this interim financial 會報告。除此以外，吾等的報告不可用作其 information based on our review. Our report is made solely to you, 他用途。吾等概不會就本報告的內容向任何 as a body, in accordance with our agreed terms of engagement, 其他人士負責或承擔責任。 and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Scope of Review 審閱範圍 We conducted our review in accordance with Hong Kong Standard 吾等已根據香會計師公會頒佈的香審閱 on Review Engagements 2410 Review of Interim Financial 委聘準則第2410號由實體的獨立核數師執行 Information Performed by the Independent Auditor of the Entity 中期財務資料審閱進行審閱。審閱中期財務 as issued by the HKICPA. A review of interim financial information 資料括主要向負責財務和會計事務的人員 consists of making inquiries, primarily of persons responsible for 作出查詢，及應用分析性和其他審閱程序。 financial and accounting matters, and applying analytical and other 審閱的範圍遠較根據香審計準則進行審核 review procedures. A review is substantially less in scope than 的範圍為小，故不能令吾等保證吾等將知悉 an audit conducted in accordance with Hong Kong Standards on 在審核中可能發現的所有重大事項。因此， Auditing and consequently does not enable us to obtain assurance 吾等不會發表審核意見。 that we would become aware of all significant matters that might For the six months ended 30 June 截至六月三十日止六個月 2026 2025 二零二六年 二零二五年 (Unaudited) (Unaudited) （未經審核） （未經審核） ’ ’ Notes US$ 000 US$ 000 附註 千美元 千美元 Revenue 收入 4 1,378,462 1,107,002 Cost of sales 銷售成本 (1,173,999) (995,394) Gross profit 毛利 204,463 111,608 Other income and gains 其他收入及收益 4 47,212 59,916 Selling and distribution expenses 銷售及分銷費用 (5,319) (4,844) Administrative expenses 管理費用 (206,951) (189,051) Impairment losses on trade receivables 貿易應收款項及應收票據 and notes receivables 的減值損失 (2,426) (1,132) Other expenses 其他費用 (11) (17,300) Finance costs 財務費用 (57,104) (41,551) Share of profits of associates 分佔聯?公司溢利 9,644 1,243 LOSS BEFORE TAX 稅前虧損 5 (10,492) (81,111) Income tax expense 所得稅開支 6 (2,897) (3,852) LOSS FOR THE PERIOD 期內虧損 (13,389) (84,963) Attributable to: 以下各項應佔： Owners of the parent 母公司擁有人 59,568 11,702 Non-controlling interests 非控股權益 (72,957) (96,665) (13,389) (84,963) EARNINGS PER SHARE 母公司普通股權持有人 ATTRIBUTABLE TO ORDINARY 應佔每股盈利： EQUITY HOLDERS OF THE PARENT: 7 Basic 基本 – For profit for the period －期內溢利 US$0.034 US$0.007 For the six months ended 30 June 截至六月三十日止六個月 2026 2025 二零二六年 二零二五年 (Unaudited) (Unaudited) （未經審核） （未經審核） ’ ’ US$ 000 US$ 000 千美元 千美元 LOSS FOR THE PERIOD 期內虧損 (13,389) (84,963) OTHER COMPREHENSIVE INCOME 其他全面收益 Other comprehensive income that may be 於其後期間可能重新分類至損益 reclassified to profit or loss in subsequent 的其他全面收益： periods: Exchange differences on translation of foreign 換算海外業務產生的外匯差額 operations 277,745 35,116 Net other comprehensive income that may be 於其後期間可能重新分類至損益 reclassified to profit or loss in subsequent 的其他綜合收益淨額 periods 277,745 35,116 Other comprehensive income that will not be 於其後期間不會重新分類至損益 reclassified to profit or loss in subsequent 的其他全面收益： periods: Equity investments designated at fair value 指定按公平值計入其他全面收益 through other comprehensive income: 的權益工具： Changes in fair value 公平值變動 285,819 – Income tax effect 所得稅影 (42,873) – 242,946 – Share of other comprehensive income of an 分佔一間聯?公司的其他全面 associate 收益 25,639 – 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 損益的其他全面收益淨額 periods 268,585 – OTHER COMPREHENSIVE INCOME FOR 期內其他全面收益，扣除稅項 THE PERIOD, NET OF TAX 546,330 35,116 30 June 31 December 2026 2025 二零二六年 二零二五年 六月三十日 十二月三十一日 (Unaudited) (Audited) （未經審核） （經審核） ’ ’ Notes US$ 000 US$ 000 附註 千美元 千美元 NON-CURRENT ASSETS 非流動資產 Property, plant and equipment 物業、廠房及設備 8 7,286,266 6,676,442 Right-of-use assets 使用權資產 57,262 64,482 Investment properties 投資物業 226,803 219,772 Intangible assets 無形資產 30,483 35,509 Investment in associates 於聯?公司的投資 183,072 150,222 Equity investments designated at fair value 指定按公平值計入其他 through other comprehensive income 全面收益的權益工具 787,420 478,799 Financial asset at fair value through profit 按公平值計入損益的 or loss 金融資產 8,809 – Long-term prepayments 長期預付款項 224,645 221,849 Total non-current assets 非流動資產總額 8,804,760 7,847,075 CURRENT ASSETS 流動資產 Completed properties held for sale 已竣工待售物業 222,405 215,511 Inventories 存貨 584,782 544,368 Trade and notes receivables 貿易應收款項及應收票據 9 322,463 282,053 Prepayments, other receivables and 預付款項、其他應收款項 other assets 及其他資產 701,266 561,328 Due from related parties 應收關聯方款項 13 12,552 10,135 Time and pledged deposits 定期及已抵押存款 45,355 99,494 Cash and cash equivalents 現金及現金等價物 4,532,224 4,893,808 Total current assets 流動資產總額 6,421,047 6,606,697 CURRENT LIABILITIES 流動負債 Trade payables 貿易應付款項 10 289,753 330,370 Other payables and accruals 其他應付款項及暫估費用 829,746 1,008,586 Interest-bearing bank borrowings 計息銀行借款 1,902,063 403,748 Current portion of long-term payables 長期應付款項的即期部分 7,331 – 30 June 31 December 2026 2025 二零二六年 二零二五年 六月三十日 十二月三十一日 (Unaudited) (Audited) （未經審核） （經審核） ’ ’ Notes US$ 000 US$ 000 附註 千美元 千美元 NON-CURRENT LIABILITIES 非流動負債 Interest-bearing bank borrowings 計息銀行借款 1,665,485 2,787,096 Lease liabilities 租賃負債 7,938 15,679 Deferred tax liabilities 遞延稅項負債 67,251 35,964 Long-term payables 長期應付款項 613,603 594,581 Total non-current liabilities 非流動負債總額 2,354,277 3,433,320 Net assets 資產淨額 9,697,429 9,164,231 EQUITY 權益 Equity attributable to owners of the 母公司擁有人應佔權益 parent Share capital 股本 11 4,987,827 4,987,482 Reserves 儲備 2,150,209 1,625,181 Total equity attributable to owners of the 母公司擁有人應佔權益總額 parent 7,138,036 6,612,663 Non-controlling interests 非控股權益 2,559,393 2,551,568 Total equity 權益總額 9,697,429 9,164,231 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30 JUNE 2026 中期簡明綜合權益變動表 截至二零二六年六月三十日止六個月 Attributable to owners of the parent 母公司擁有人應佔 Fair value reserve of nancial assets Other capital Share of other at fair value reserve and comprehensive through other Exchange Share option contributed income of comprehensive Revaluation Statutory uctuation Retained Non-controlling # Share capital Merger reserve reserve surplus associates income surplus reserve funds reserve pro ts Total interests Total equity 按公平值計入其他 其他資本儲備及 分佔聯?公司的 全面收益的金融 # 股本 合併儲備 購股權儲備 供款盈餘 其他全面收益 資產的公平值儲備 重估盈餘 法定儲備基金 匯兌波動儲備 留存溢利 總計 非控股權益 權益總額 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 千美元 (note 11) （附註11） At 1 January 2026 於二零二六年一月一日 4,987,482 645,494* 145* 35,685* 689* 203,853* 99,257* 277,541* (11,942)* 374,459* 6,612,663 2,551,568 9,164,231 Profit/(loss) for the period 期內溢利╱（虧損） – – – – – – – – – 59,568 59,568 (72,957) (13,389) Other comprehensive 期內其他全面收益： income for the period: Exchange differences 換算海外業務產生的 on translation of foreign 外匯差額 operations – – – – – – – – 196,963 – 196,963 80,782 277,745 Change in fair value of 按公平值計入其他 equity investments at 全面收益的股權 fair value through other 投資的公平值變 comprehensive income, 動，扣除稅項 net of tax – – – – – 242,946 – – – – 242,946 – 242,946 Share of other 分佔一間聯?公司的 comprehensive income 其他全面收益 of an associate – – – – 25,639 – – – – – 25,639 – 25,639 Total comprehensive 期內全面收益總額 income for the period – – – – 25,639 242,946 – – 196,963 59,568 525,116 7,825 532,941 Issue of shares for exercise 發行股份以行使購 of share options (note 11) 股權（附註11） 345 – (88) – – – – – – – 257 – 257 Transfer from retained profits 轉撥自一間子公司 generated by a subsidiary 產生的留存溢利 – – – – – – – 11,390 – (11,390 ) – – – At 30 June 2026 (unaudited) 於二零二六年六月 三十日（未經審核） 4,987,827 645,494* 57* 35,685* 26,328* 446,799* 99,257* 288,931* 185,021* 422,637* 7,138,036 2,559,393 9,697,429 At 1 January 2025 於二零二五年一月一日 4,938,457 645,494 11,591 35,685 689 64,635 99,257 256,366 (145,901) 340,753 6,247,026 2,659,593 8,906,619 Profit/(loss) for the period 期內溢利╱（虧損） – – – – – – – – – 11,702 11,702 (96,665) (84,963) Other comprehensive 期內其他全面收益： income for the period: – – – – – – – – – – – – – Exchange differences on 換算海外業務產生 的外匯差額 translation of foreign operations – – – – – – – – 24,303 – 24,303 10,813 35,116 Total comprehensive 期內全面收益╱ income/(loss) for the period （虧損）總額 – – – – – – – – 24,303 11,702 36,005 (85,852) (49,847) Issue of shares for exercise 發行股份以行使INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2026 截至二零二六年六月三十日止六個月 中期簡明綜合現金流量表 For the six months ended 30 June 截至六月三十日止六個月 2026 2025 二零二六年 二零二五年 (Unaudited) (Unaudited) （未經審核） （未經審核） ’ ’ US$ 000 US$ 000 千美元 千美元 CASH FLOWS FROM OPERATING ACTIVITIES 經?活動所得現金流量 Loss before tax 稅前虧損 (10,492) (81,111) Adjustments for: 就以下各項作出的調整： Finance costs 財務費用 57,104 41,551 Share of profits of associates 分佔聯?公司溢利 (9,644) (1,243) Interest income 利息收入 (21,994) (30,913) Loss on disposal of items of property, plant and 出售物業、廠房及設備 equipment 項目的虧損 46 12 Gain on lease modifications 租賃修改的收益 (924) – Depreciation of property, plant and equipment 物業、廠房及設備折舊 438,862 344,036 Amortisation of intangible assets 無形資產攤銷 6,516 4,794 Depreciation of right-of-use assets 使用權資產折舊 2,696 2,953 Impairment of trade receivables and notes 貿易應收款項及 receivables 應收票據減值 2,426 1,132 Impairment of items of property, plant and 物業、廠房及設備項目 equipment 的減值 67 – 464,663 281,211 Increase in inventories 存貨增加 (40,414) (46,374) Decrease in completed properties held for sale 已竣工待售物業減少 – 244 (Increase)/decrease in trade and notes receivables 貿易應收款項及應收票據 （增加）╱減少 (42,924) 4,987 Increase in prepayments, other receivables and 預付款項、其他應收款項 other assets 及其他資產增加 (9,766) (3,184) (Increase)/decrease in amounts due from 應收關聯方款項（增加）╱ related parties 減少 (2,417) 3,964 Increase in pledged deposits 已抵押存款增加 (3,655) (132) Decrease in trade payables 貿易應付款項減少 (40,617) (35,020)INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2026 中期簡明綜合現金流量表 截至二零二六年六月三十日止六個月 For the six months ended 30 June 截至六月三十日止六個月 2026 2025 二零二六年 二零二五年 (Unaudited) (Unaudited) （未經審核） （未經審核） ’ ’ US$ 000 US$ 000 千美元 千美元 CASH FLOWS FROM INVESTING ACTIVITIES 投資活動所得現金流量 Interest received 已收利息 18,658 35,917 Purchases of items of property, plant and 購買物業、廠房及設備項目 equipment and intangible assets 及無形資產 (1,281,437) (918,579) Acquisition of interests in an associate 收購一間聯?公司權益 – (2,794) Dividend received from an associate 已收一間聯?公司股息 7,286 – Purchase of an equity investment designated at 購買指定為按公平值計入其 fair value through other comprehensive income 他全面收益的權益工具 (7,286) – Purchase of a financial assets at fair value through 購買按公平值計入損益的金 profit or loss 融資產 (8,809) – Receipt of government grants for property, plant 收取物業、廠房及設備的政 and equipment 府補助 25,394 5,590 Proceeds from disposal of items of property, plant 出售物業、廠房及設備項目 and equipment 所得款項 247 19 Withdrawal of time deposits 提取定期存款 57,794 – Net cash ows used in investing activities 投資活動所用現金流量淨額 (1,188,153) (879,847) CASH FLOWS FROM FINANCING ACTIVITIES 融資活動所得現金流量 New bank loans 新增銀行貸款 850,870 999,081 Proceeds from issue of shares for exercise of share 發行股份以行使購股權 options 所得款項 3,449 15,295 Repayment of bank loans 償還銀行貸款 (569,813) (936,833) Interest paid 已付利息 (49,742) (41,875) Principal portion of lease payments 支付租賃本金部分 (2,061) (1,716) Net cash ows generated from nancing 融資活動所得現金流量淨額 activities 232,703 33,952 1. CORPORATE INFORMATION 1. 公司資料 Hua Hong Grace Semiconductor Limited (the “Company”, 華虹宏力半導體有限公司（「本公司」， formerly known as Hua Hong Semiconductor Limited) is a 前稱華虹半導體有限公司）為一家於二零 limited liability company incorporated in Hong Kong on 21 零五年一月二十一日在香註冊成立的 January 2005. The registered office of the Company is located 有限公司。本公司的註冊辦事處為香 at Room 2212, Bank of America Tower, 12 Harcourt Road, 中環夏愨道12號美國銀行中心2212室。 Central, Hong Kong. The principal place of business is located 主要?業地點為上海市浦東新區哈雷路 at No. 288, Halei Road, Pudong New Area, Shanghai. 288號。 The principal activity of the Company is investment holding. 本公司的主要活動為投資控股。於截至 During the six months ended 30 June 2026, the Company’s 二零二六年六月三十日止六個月內，本 subsidiaries (collectively refer to as the “Group”) were 公司的子公司（統稱為「本集團」）主要從 principally engaged in the manufacture and trading of 事半導體產品的生產及貿易。 semiconductor products. In the opinion of the directors, the parent of the Company is 董事認為，本公司的母公司為上海華虹 Shanghai Huahong (Group) Co., Ltd. (“Huahong Group”), （集團）有限公司（「華虹集團」），該公司 which is a state-owned company established in the People’s 為於中華人民共和國（「中國」）成立並由 Republic of China (“PRC”) and supervised by the Shanghai 上海市國有資產監督管理委員會（「上海 State-owned Assets Supervision and Administration 市國資委」）監管的國有公司。本公司的 Commission (“Shanghai SASAC”). The ultimate parent of the 最終母公司為上海市國資委。 Company is Shanghai SASAC.1. CORPORATE INFORMATION (CONTINUED) 1. 公司資料（續） 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 incorporation/ Issued ordinary/registered Percentage of equity Name registration and business share capital (’000) attributable to the Company Principal activities 已發行普通╱ 名稱 註冊成立╱登記地點及業務 註冊股本（千） 本公司應佔權益百分比 主要業務活動 Direct Indirect 直接 間接 Grace Semiconductor Manufacturing Corporation Cayman Islands US$0.001 100% – Investment holding (“Grace Cayman”) Grace Semiconductor Manufacturing Corporation 開曼群島 0.001美元 100% – 投資控股 （「Grace Cayman」） Shanghai Huahong Grace Semiconductor PRC/Chinese mainland RMB20,460,928 100% – Manufacture and sale of Manufacturing Corporation (“HHGrace Shanghai”)* semiconductor products 上海華虹宏力半導體製造有限公司（「華虹宏力上海」）* 中國╱中國內地 人民幣20,460,928元 100% – 生產及銷售半導體產品 Hua Hong Semiconductor (Wuxi) Limited** （Hua Hong PRC/Chinese mainland US$2,536,852 22.2% 28.8% Manufacture and sale of Wuxi） semiconductor products 華虹半導體（無錫）有限公司**（華虹無錫） 中國╱中國內地 2,536,852美元 22.2% 28.8% 生產及銷售半導體產品 Huahong Real Estate (Wuxi) Co., Ltd. (“Huahong Real PRC/Chines 注意：本文为公告节选，部分内容省略，完整内容请查看交易所发布的PDF全文原文。  |