神工股份(688233):THINKONSEMICONDUCTORCORPORATEVALUEANDRETURNENHANCEMENTACTIONPLAN2026
CorporateValueandReturnEnhancementActionPlan2026 ThinkonSemiconductorJinzhouCorp.(hereinafterreferredtoas"ThinkonSemiconductor"or"theCompany")believesthatimprovingthequalityoflistedcompanies,enhancingreturnstoinvestors,andincreasinginvestors'senseofgainaretheinherentresponsibilitiesofalistedcompany'sdevelopmentanditsdueobligationtoinvestors. TheCompanyactivelyimplementstherelevantrequirementsofthe"SeveralOpinionsonStrengtheningSupervision,PreventingRisks,andPromotingtheHigh-qualityDevelopmentoftheCapitalMarket"andthe"OpinionsonFurtherImprovingtheQualityofListedCompanies"issuedbytheStateCouncil.Itrespondstothe"InitiativeonCarryingoutthe'QualityImprovement,EfficiencyEnhancement,andReturnEmphasis'SpecialActionforCompaniesListedontheShanghaiStockExchange"bytheShanghaiStockExchange,practicesthedevelopmentconceptoflistedcompaniesthat"putsinvestorsfirst",andsafeguardstheinterestsofallshareholders. Basedonconfidenceinitsfuturedevelopmentprospectsandrecognitionofthecompany'svalue,andearnestlyfulfillingitssocialresponsibilities,theCompanyspeciallyformulatesthe"CorporateValueandReturn EnhancementActionPlan2026".Thisplansummarizestheimplementationofthe2025plan,furtherimprovesthecompany'soperationalefficiency,strengthensitsmarketcompetitiveness,protectsinvestors'rightsandinterests,stabilizesthestockprice,andbuildsagoodimageinthecapitalmarket.Themaincontentsareasfollows: 1. FocusonStrengtheningtheMainBusinessandImprovingCore Competitiveness Sinceitsestablishment,ThinkonSemiconductorhasbeendedicatedtotheproduction,researchanddevelopment,andsalesoflarge-diametersiliconmaterialsandtheirapplicationproducts.Withyearsofaccumulationandlayout,theCompanyhasmaintainedaleadingpositioninthefieldoflarge-diametersiliconmaterials,masteringalltechnicalprocessesforcrystalsupto22inchesandbelow.ItisoneoftheveryfewintegratedmanufacturersinChinawiththecompletemanufacturingcapability.TheCompanycanprovidelarge-diametersiliconmaterialproductstodownstreammanufacturersgloballyonalargescale,withhighquality,highreliability,andwidecoverage,rankinginthefirsttierintheglobalnichemarket.In2025,theCompany'slarge-diametersiliconmaterialbusinessachievedanoperatingincomeof188,152,050yuan,ayear-on-yearincreaseof8.11%;thegrossprofitmarginwas69.87%,a year-on-yearincreaseof6.02percentagepoints;andthesiliconpartsproductsachievedanincomeof237,171,645yuan,ayear-on-yearincreaseof100.15%,ayear-on-yearincreaseof14.48percentagepoints. In2026,theCompanywillfurtherfocusonitsmainbusinessandenhanceitscorecompetitiveness: a. SeizingtheDevelopmentOpportunitiesoftheSemiconductor Industry’sRecovery,StrengtheningMarketingEfforts DatafromtheWorldSemiconductorTradeStatisticsAssociationshowsthattheglobalsemiconductormarketsizein2025was$792billion,ayear-on-yearincreaseof25.60%.Entering2026,globalleadingICmanufacturersandsemiconductormanufacturingequipmentmanufacturershavemade predictions.TSMCandLamResearchexpectthattheglobalsemiconductormarketwillcontinuetorecoverthisyear.ThedownstreamdemandfortheCompany'slarge-diametersiliconmaterialsandtheirprocessedsiliconpartsproductsiscloselyrelatedtothecapacityutilizationrateandnewcapacityofterminalICmanufacturers.Currently,itisstillaperiodofdevelopmentopportunitiesfortheglobalsemiconductorindustry. TheCompanywillactivelyrespondtothediversifieddemandsoftherapidlygrowingdomesticmarket.Itwillsetuplocaloffices,getclosertotheactualproductionofcustomers,improvethefeedbackspeed,proactivelydeploymarketresources,integrateandimprovetechnical,quality,andlogisticsservices,andfurtherenhancecustomersatisfaction.Intheoverseasmarket,itwillmakestrategicarrangements,activelytrackthelatesttechnologicaldevelopmentdemands,andcollaboratewithoverseaspartnersbasedonitsownadvantagestofurtherenhancethecompany'sinternationalmarketstatus.b. OptimizeOperationalManagementandImproveBusinessQuality andEfficiency In2026,thecompanywillfurtherimproveordercollectionandpaymentmanagement,activelycontrolthescaleofaccountsreceivable,increasecollectionefforts,continuouslymonitorthecollectionofoverdueaccountsreceivable,andreduceorstopsalestospecificcustomersbasedoncreditriskassessment. Intermsofinventoryturnover,in2025,duetothelongevaluationand certificationcycleoftheCompany'sstrategicbusinesssemiconductor8-inchsiliconwaferproducts,theaveragecapacityutilizationratewaslimited.TheCompanyactivelysoughtorders,tookintoaccounttheneedsofevaluationandcertificationandeconomicbenefits,optimizedtheproductionschedulingplan,andadjustedtheproductionandoperationplaninatimelymanner,reducingtheinventorylevel.In2026,theCompanywillcontinuetooptimizetheproductionschedulingplan,strictlymanageinventory,andunremittinglypursuetheoptimalbalancebetweenR&Dverificationandeconomicbenefits.2. ShareDevelopmentResultsandImprovetheInvestorReturn Mechanism TheCompanybelievesthatagoodinvestorreturnisthecornerstoneofacompany'slong-termdevelopmentinthecapitalmarket. OnApril24,2023,theCompanyformulatedanddisclosedthe"Thinkon SemiconductorJinzhouCorp.ShareholderDividendReturnPlanfortheNextThreeYears(2023-2025)".TheCompanywilldistributeaccordingtotheprincipleof"sameshares,samerights,andsameshares,samebenefits"basedontheproportionofthecompany'ssharesheldbyeachshareholder.Thecompanyimplementsacontinuous,stable,andactiveprofitdistributionpolicy,valuesreasonableinvestmentreturnsforshareholders,andunderthepremiseofmeetingthecashdividenddistributionconditionsstipulatedbyrelevantlaws,regulations,normativedocuments,andthe"CompanyCharter",theCompanywillprioritizethecashdividenddistributionmethod.Intheabsenceofmajorinvestmentplansormajorcashexpenditureplans,withoutaffectingthenormalbusinessdevelopmentneedsofthecompany,the company'snetprofitfortheyearispositive,theaccumulatedundistributedprofitattheendoftheyearispositive,thecapitalreserveispositive,andothercashdividenddistributionconditionsstipulatedbyrelevantlaws,regulations,normativedocuments,andthe"CompanyCharter"aremet,theCompany shoulddistributenolessthan10%ofthedistributableprofitfortheyearincash. In2025,theCompanyplanstodistributeacashdividendof1.85yuan (includingtax)forevery10sharestoallshareholders.Asoftheannouncementdate,thetotalsharecapitaloftheCompanyis170,305,736shares.Afterdeducting635,016sharesintherepurchase-dedicatedaccount,thetotalplannedcashdividendis31,389,083.20yuan(includingtax).TheproportionofcashdividendsoftheCompanyinthenetprofitattributabletoshareholdersofthelistedcompanyintheconsolidatedfinancialstatementsforthisyearis30.76%.Thisprofit-distributionplanhasbeenreviewedandapprovedbythe12thmeetingofthe3rdBoardofDirectorsoftheCompanyandstillneedstobesubmittedtothegeneralmeetingofshareholdersforreview. In2026,theCompanywillcontinuetobalancethedynamicrelationshipbetweencompanydevelopment,performancegrowth,andshareholderreturns,activelyexplorewaysandmethods,andunderthepremiseofcomplyingwithrelevantlaws,regulations,andthe"CompanyCharter"profitdistributionpolicy,takeintoaccounttheimmediateandlong-terminterestsofshareholders,achievea"continuous,stable,andscientific"shareholderreturnmechanism,andenhancethesenseofgainforthemajorityofinvestors. 3. AcceleratetheDevelopmentofNewQualityProductiveForcesand InnovatetheAllocationofProductionFactors TheCompanywillcultivateandusenewqualityproductiveforcestopromotehigh-qualitydevelopmentofthecompanyandleadindustrialtransformationandupgrading.Itwillstrengthenindustry-academia-researchcooperationandactivelyimprovethecompany'soperationalefficiencythroughtechnologicalbreakthroughsandinnovativeallocationofproductionfactors. Astrongtalentsupplyisthesourceofmomentumfortechnology-intensiveenterprises.TheCompany,guidedbyjobvalueandcapability,drivenbyperformanceresults,establishesa"fairinternallyandcompetitiveexternally"compensationsystem,improvestheefficiencyofcompensationresourceuse,motivatesoutstandingemployees,encouragesemployeestoactively contributeideasforthecompany'sperformancedevelopment,technologicalinnovation,andmanagementoptimization,therebyattractingoutstandingtalents. In2026,theCompanywillcontinuetostrengthenitstalentdevelopmentstrategy,optimizetalentincentivemechanisms,maintainthestabilityoftheresearchteam,userestrictedstockincentiveplansasanormalizedincentivemechanism,continuetorecruitcompoundexpertsandtechnicianswithrichproductionandmanagementexperience,expandintotheexistingteamofmiddleandseniormanagementpersonnel,strengthentheconstructionofahigh-leveltalentechelon,andcontinuouslyenhancethecompetitiveadvantageoftalent;continuouslyoptimizeanditeratetheexisting performanceassessmentmechanism,improvetheCompany,department,andindividualthree-levelperformanceassessmentgoalsandcontent,andconstantlystrengthentheperformanceassessmentandbenefitdistributionsystemcenteredon"responsibility,rights,andinterests",stimulatingtheenthusiasmoftalentsatwork,achievingawin-winforthecompanyand employees. TheCompanycontinuestostrengthenR&Dinvestment,withthecompany'sR&Dinvestmentaimedfundamentallyatprofitability,andR&Dactivitiesarecarriedoutbasedonthespecificandclearassessmentandcertificationrequirementsofdownstreamclients.TheCompany'sR&Dinvestmentasaproportionofitsannualoperatingincomefrom2023to2025was16.64%,8.26%,7.63%,respectively.TheCompanyhascumulativelyobtained18inventionpatents,95utilitymodelpatents. In2026,theCompanywillstimulatethesynergisticeffectsofR&Dwiththemarket,supplychain,andcustomerservice.Itwillkeeppacewiththe requirementsofworld-advancedsemiconductormanufacturingprocesses,continuouslystrengthenitstechnicalreserves,andbuilditscore competitiveness. Intheindustrialsituationwhere"globaldivisionoflabor,freetrade,efficiencyfirst"coexistswith"localizationofICmanufacturing",theCompanyconsidersinnovatingtheallocationofproductionfactorsthroughinvestmentorcooperativedevelopmentwhilegrowinginternally,andgrowingtogetherwithdomesticandforeignhigh-endsemiconductormaterialandcomponent manufacturers,enablingtheCompanytocovermoreproductcategoriesandcapturemorenichemarkets,layingthefoundationforthecompany'slong-termsustainablegrowth. 4. ImprovetheQualityofInformationDisclosureandStrengthen InvestorCommunication TheCompany'ssecuritiesofficeisthededicateddepartmentfor communicationbetweenthecompanyandinvestors.Sinceitslisting,theCompanyhasactivelyansweredinvestorhotlines,promptlyrepliedtoinvestoremailsandthe"SSEE-Interaction"platform,andheldinvestorcommunicationmeetingsonplatformssuchas"SSERoadshowCenter"and"JinmenFinance"afterthedisclosureofquarterly,semi-annual,andannualreports,explainingthecompany'soperatingperformanceandinterpretingregularreports.In2025,theCompanyheld3earningspresentationmeetings,carriedout3investorrelationsmanagementactivitiesthroughnewmedia,andhad12investorexchanges.Therelevantinvestorrelationsactivityrecordshavebeenpromptlydisclosed. In2026,theCompanywillstrictlyfollowlaws,regulations,andregulatoryrequirements,implementthecompany'sinformationdisclosuremanagementsystem,andfulfillitsinformationdisclosureobligationstruly,accurately,completely,timely,andfairly.Specificaspectsinclude: a.InvestorOnlineCommunicationActivities Inthefuture,theCompanywillcontinuetomaintainactiveonline communicationwithinvestors,enrichinvestorcommunicationmethods,expandcommunicationchannels,andenhancetransparency.TheCompanywillholdnolessthan4investoronlinecommunicationmeetingseachyearthroughplatformssuchas"SSERoadshowCenter"and"JinmenFinance",ensuringthatthecommunicationmeetingsareheldwithinoneweekafterthereleaseofregularreports,withthecompany'schairman,generalmanager,andotherkeypersonnelactivelyparticipatinginrelevantactivities.b.ImprovetheInvestorOpinionSolicitationandFeedbackMechanism TheCompanywillcontinuetoimprovetheinvestoropinionsolicitationandfeedbackmechanism,enhancethetransparencyofinformationdisclosure,actively,timely,andin-depthunderstandinvestordemandsandmaketargetedresponses.Thiswillallowinvestorstofullyandtimelyunderstandthecompany'soperatingconditionsanddevelopmentstrategies,strengthencommunicationwithinvestors,andenhanceinvestortrustinthecompany.5. DeepenCorporateGovernanceandEnsureStandardizedOperations TheCompanyattachesgreatimportancetothesoundnessofitscorporategovernancestructureandtheeffectivenessofitsinternalcontrolsystem,andwillcontinuetoimprovethelegalpersongovernanceandinternalcontrolsystems,improvethestandardizationofcompanyoperationsandthescientificnatureofdecision-making,andfullyprotectshareholderrights.Thespecificplanisasfollows: a.Accelerate the Implementation of Independent Director SystemReform TheCompanywillacceleratetheimplementationofindependentdirectorsystemreform,optimizetheselectionofauditinstitutionsandinternalauditmanagement,furtherstrengthenthesupervisionofbranchesandsubsidiaries,andensurethecompany'scompliantoperations. b.ImproveInternalControlConstruction Combiningtheactualsituationofthecompany,comprehensivelysortouttheoriginalmanagementsystems,andestablishasuitableinternalcontrolmanagementsystemforthecompanyunderthepremiseofmeetinginternalcontrolrequirements,clarifytheresponsibilitiesandauthorityofrelevantdepartmentpersonnel,andimplementcomprehensivemanagement.The Companywillcompletetheupdateofitsmanagementsystemwithintheyear.c.ManagementSelf-disciplineandCompliance TheCompany'sdirectorsandseniormanagementpersonnelwillfaithfullyanddiligentlyperformtheirduties,restrainoccupationalconsumptionbehavior,nottransferbenefitstootherunitsorindividuals,andeffectivelyprotectthelegalrightsandinterestsofthelistedcompanyandallshareholders.Inmajormatterssuchasproductionandoperation,investmentandmergersand acquisitions,protectthelegalrightsandinterestsofinvestors,especiallysmallandmedium-sizedinvestors,enhanceinvestorparticipationandsenseofidentification. d.BoardandSupervisoryBoardandSeniorManagementTraining TheCompany'sboardandsupervisoryboardmembersandsenior managementactivelyparticipateinvarioustrainingorganizedbyregulatoryagenciessuchastheChinaSecuritiesRegulatoryCommission(CSRC)andtheShanghaiStockExchange,strengthenthestudyofsecurities market-relatedlawsandregulations,continuouslyimproveself-disciplineandcomplianceawareness,andpromotethecompany'scontinuousstandardizedoperation.TheCompanywillfullyencourageandassisttheboardand supervisoryboardmembersandseniormanagementtoactivelyparticipateinrelevanttraininginthefuture. 6. StrengthentheBindingofManagementandShareholders'Shared InterestsandtheResponsibilityofthe"KeyMinority" Sinceitslisting,theCompanyhasmaintainedclosecommunicationwiththeactualcontroller,controllingshareholders,shareholdersholdingmorethan5%oftheshares,andother"keyminorities"ofthecompany,organizedrelevantpartiestoparticipateintrainingonthestandardizedoperationoflistedcompanies,caseanalysisofriskprevention,andtrainingrelatedto"honestyobligationsofmajorshareholdersandboardandsupervisoryboardmembers",promptlyinformedthelatestregulatoryinformationandregulatorycases,standardizedtherightsandobligationsofthecompanyandshareholders,preventedtheabuseofshareholderrightsandtheadvantageouspositionofmanagementtodamagetherightsandinterestsofsmallandmedium-sizedinvestors;trackedthefulfillmentofpromisesbyrelevantpartiesonaquarterlybasisandconductedpre-communicationtoensurethatrelevantpartiesfulfilltheirpromises. In2026,theCompanywillcontinuetostrengthencommunicationwiththe"keyminorities",guideshareholderstoinvestlong-term,trackthefulfillmentofpromisesbytheaforementionedrelevantparties,continuouslystrengthenthesenseofresponsibilityandfulfillmentofpromisesoftherelevantparties.Atthesametime,theCompanywillcontinuetoorganizetheaforementionedrelevantpartiestoparticipateinvarioustrainingorganizedbyregulatoryagenciessuchastheShanghaiStockExchangeandtheCSRC,promptlyconveyregulatoryupdatesandregulatorydynamics,strengthenthe"keyminorities"learningofcapitalmarket-relatedlawsandregulations,professionalknowledge,andcontinuouslyimprovetheirself-disciplineawareness,jointlypromotethecompany'sstandardizedoperation.Effortswillbemadetoguidethe"keyminorities"toconveyconfidenceinthecompany'sdevelopmentprospectsthroughcommitmentsnottoreduceholdings,increaseholdingsinthe company'sshares,andothermethods. 7. OtherMatters TheCompanywillcontinuetoassesstheimplementationoftheactionplanandtimelyfulfillitsinformationdisclosureobligations.TheCompanywillcontinuetofocusonitsmainbusiness,enhancethecompany'score competitiveness,profitability,andriskmanagementcapabilities.Throughgoodbusinessmanagement,standardizedcorporategovernance,andactiveinvestorreturns,theCompanywilleffectivelyprotectinvestorinterests,fulfilltheresponsibilitiesandobligationsoflistedcompanies,rewardinvestortrust,maintainthecompany'sgoodmarketimage,andpromotethestableand healthydevelopmentofthecapitalmarket. TheCompany'splans,developmentstrategies,etc.,mentionedinthisreportareforward-lookingstatementsthathavenotyetbecomefactsanddonotconstituteasubstantivecommitmentfromthecompanytoinvestors.Investorsareadvisedtopayattentiontotherelevantrisks. ThinkonSemiconductorJinzhouCorp. BoardofDirectors March20,2026 中财网
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