🇭🇰 港交所HUA HONG GRACEDoubao · 实盘不做把握 7/10不做原因:无增量信息
北京时间·🕒 发布 09-11 16:41:00时区推断·⟳ 抓取 09-11 16:43:17·⚡ 决策 09-12 16:42:03 +23h58m·45.1 天前
华虹半导体公告82.68亿元发行股份收购华力微分立资产已完成交割，标的成全资子公司
这是一笔自2025年8月停牌筹划、经草案/通函/多次进展公告充分披露的关联收购的'交割完成'公告：条件满足、股份发行登记、标的并表均为协议预先约定且市场预期内的程序性落地，不含新增金额、指引、订单或超预期条款，不构成短线可交易的预期差；两类上市股票在公告日均下跌，亦无抢跑后的补涨逻辑。
📄 原文HUA HONG GRACE↗ 原文
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the con…
不做 华虹半导体（H股）（01347.HK）
无新增事实/已price-in：收购华力微资产自2025-08公开、2026-01通函定型，本次仅为预期内交割与股份登记，不含增量利好；公告当日H股-1.15%、近20日-14.2%，无短线edge，不做多。
不做 华虹公司（A股）（688347.SH）
程序性交割+A股股本扩大46.8%已在草案中披露，公告当日A股-2.25%、近20日-13.5%，无预期差；6个月后上海IC基金3076万股解禁构成中期供给，不构成做多催化，也无强空触发（非利空事件），故不做。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
华虹82.68亿元换股收购华力微分立资产（解决IPO同业竞争承诺）如期交割，条款与1.91亿股发行为旧闻，本次仅确认条件满足与并表，属预期内程序性事件，无增量edge，A/H股均不做。
消息传播链
- 公司首次公告筹划发行股份及支付现金购买华力微控股资产并配套募资、8-18起停牌，交易目的为解决IPO同业竞争承诺——这是本事件催化的真正起点。
- 草案/通函完整披露交易对方（华虹集团、上海IC基金、大基金二期、国投先导）、发股购买资产及配套募资安排，方案与对价结构在此已公开。
- 公告确认交割于2026-09-09完成、190,768,392股A股以43.34元发行登记、标的并表；属程序性状态迁移，无新增交易条款。市场反应:公告当日（9-11）01347.HK收111.7港元(-1.15%)，688347.SH收219.07元(-2.25%)，近20日分别-14.2%/-13.5%，未现正向重定价。
关键理由
- 交割确认标的成全资子公司并将于后续报表并表，集团晶圆制造产能与收入口径扩大——但这一结果在2025-08至2026-07的公告链及2026-01通函中已充分定价。
- 本次无新增对价、溢价、业绩承诺变更或指引上修，纯为'先决条件满足+股份登记'的状态迁移，按交易阶段经验不构成新催化。
主要风险
- A股股本一次性扩大约46.8%，上海IC基金所持3076万股仅6个月禁售（2027-03到期），中期存在解禁供给压力。
- 华虹集团代价股份设股价保护式延锁条款（6个月内连续20日收盘低于43.34元则延锁6个月），侧面反映发行价锚定，短期缺乏向上重定价触发。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-09-11 · 影响 weakens
完成公告未含新增业绩承诺、盈利预测上调、订单或超预期对价；公告日A/H股双双下跌，未发现支撑短线做多的增量利好。
检索:华虹半导体 华力微 收购 完成 业绩承诺 指引上修 超预期 利好 原文 ↗
先例如何影响了这次决策
对本次决策的影响:确认按'无新增事实/已price-in'出AVOID，不为H股或A股设做多腿。
方向:未构建外部先例面板：本事件为同一交易的预期内交割节点，决策依据是事件阶段（程序性完成）与本交易自身的充分披露/价格反应，而非同类交割的涨跌幅统计；缺少可改变'无增量edge'结论的对齐先例。
涨幅量级:无高相似对齐先例用于校准幅度，且不据此设定tp/sl——因最终为AVOID，不需要幅度。
形态:并购经验先验表明：审批/交割等程序性节点不能冒充新催化，短窗口只用于真正改变成交概率或权益价值的节点；本次成交概率本已接近确定。
工具执行结果 · 成功 5 · 降级 0 · 失败 0 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 34 ms
{"result": "search_processed_events:agent query=`hua hong grace 01347 completion acquisition 190,768,392 consideration shares rmb43.34 | 华虹半导体 收购 目标公司 全资附属 交割 2026年9月9日 | 华虹宏力 01347 完成主要及关连交易 代价股份 发行`；结构化索引覆盖完整 72 小时；旧记录兼容扫描近 23.5/72 小时、173 条本臂决策(完整)，返回 0 条候选。未命中只表示这些 agent query 表达式没有召回候选，不能据此证明消息首 - fetch_decision_experience 成功 stock_tools HTTP · 17 ms
{ - stock_quote 成功 stock_tools HTTP · 764 ms
{ - stock_quote 成功 stock_tools HTTP · 320 ms
{ - web_search 成功 doubao_search · 1,465 ms
豆包搜索结果（原始查询:华虹半导体 01347 收购 华虹制造 82.68亿 发行股份 2025年8月 公告 标的；API SearchType:web）
原文全文
展开原文 · 9,318 字
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility
for the contents of this announcement, make no representation as to its accuracy or completeness and expressly
disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the
contents of this announcement.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase,
or subscribe for any securities of the Company.
HUA HONG GRACE SEMICONDUCTOR LIMITED
華虹宏力半導體有限公司
(Incorporated in Hong Kong with limited liability)
(Stock Code: 01347)
COMPLETION OF THE MAJOR AND CONNECTED TRANSACTION
References are made to, amongst others, (i) the announcements of the Company dated 31 August
2025, 31 December 2025, 10 February 2026, 30 March 2026, 11 June 2026 and 8 July 2026;
and (ii) the circular of the Company dated 22 January 2026 (the “Circular”), each in relation to,
amongst others, the Proposed Acquisition. Unless otherwise defined herein, capitalised terms used
in this announcement shall have the same meanings as those defined in the Circular.
The Company is pleased to announce that all the conditions precedent as set out in the Acquisition
Agreement (as supplemented by the Supplemental Agreement) have been satisfied and Completion
took place on 9 September 2026. Pursuant to the Acquisition Agreement (as supplemented by
the Supplemental Agreement), the Total Consideration of RMB8,267,902,153.26 was settled by
the allotment and issuance of 190,768,392 Consideration Shares under the Proposed Acquisition
Specific Mandate (together with such cash consideration in lieu of fractional Shares). All
such Consideration Shares have been registered with the Shanghai Branch of China Securities
Depository and Clearing Corporation Limited on 9 September 2026. The issue price of the
Consideration Shares is RMB43.34 per Consideration Share, representing not less than 80% of the
Average Trading Price of the RMB Shares for the 120 trading days prior to the Pricing Benchmark
Date.
At the Completion of the Proposed Acquisition, the final adjusted lock-up period of each Vendor
has been determined as follows:
(1)
Huahong Group shall not transfer any of the Consideration Shares subscribed for within 36
months from the date of issue of the Consideration Shares (i.e. 9 September 2026). In the
event that (i) within 6 months after the Completion, the closing price of the Shares for 20
consecutive trading days is lower than the Consideration Shares issue price, or (ii) the closing
price of the Shares at the end of the 6-month period after the Completion is lower than the
Consideration Shares issue price, the lock-up period on the Consideration Shares obtained by
Huahong Group shall automatically extend for an additional 6-month period.
(2)
Shanghai IC Fund shall not transfer any of the Consideration Shares subscribed for within 6
months from the date of issue of the Consideration Shares.
1
(3)
China IC Fund II shall not transfer (i) 10,163,843 Consideration Shares subscribed for
within 12 months from the date of issue of the Consideration Shares, and (ii) 9,892,171
Consideration Shares subscribed for within 36 months from the date of issue of the
Consideration Shares.
(4)
Guotou IC Fund shall not transfer any of the Consideration Shares subscribed for within 36
months from the date of issue of the Consideration Shares.
The abovementioned lock-up period arrangement of the Vendors shall also apply to any additional
RMB Shares received by the Vendors as a result of bonus issues, capitalization issues, and/
or conversion of share premium into share capital after completion of the Consideration Share
Issuance.
Upon completion of the Consideration Share Issuance, the total issued Shares of the Company
increased from 1,737,726,402 Shares to 1,928,494,794 Shares, of which the total issued RMB
Shares increased from 407,750,000 Shares to 598,518,392 Shares, and the total issued Hong Kong
Shares are 1,329,976,402 Shares. The Company has become, directly and indirectly, interested
in the entire issued share capital of the Target. As such, the Target has become a wholly-owned
subsidiary of the Company and the financial results and assets and liabilities of the Target will be
consolidated into the financial statements of the Group.
EFFECT ON THE SHAREHOLDING STRUCTURE OF THE COMPANY
The following table sets out the shareholding structure of the Company immediately upon
Completion and the allotment and issuance of the Consideration Shares:
Shareholders
Percentage of
Hong Kong
Hong Kong
Shares held Shares held (Note 2)
RMB Shares
held
Percentage of
RMB Shares
held (Note 2)
Total Shares
held
Percentage of
issued Share
capital (Note 2)
Huahong Group (Note 1)
SAIL (Note 1)
Shanghai IC Fund
Guotou IC Fund
China IC Fund II
Others (Note 1)
347,605,650
188,961,147
–
–
–
–
26.14%
14.21%
–%
–%
–%
–%
125,530,570
–
30,761,109
15,619,216
68,390,263
16,856,987
20.97%
–%
5.14%
2.61%
11.43%
2.82%
473,136,220
188,961,147
30,761,109
15,619,216
68,390,263
16,856,987
24.53%
9.80%
1.60%
0.81%
3.55%
0.87%
Huahong Concert Group sub-total
536,566,797
40.34%
257,158,145
42.97%
793,724,942
41.16%
China IC Fund (Note 3)
Other public Shareholders
62,351,603
731,058,002
4.69%
54.97%
–
341,360,247
–%
57.03%
62,351,603
1,072,418,249
3.23%
55.61%
Total:
1,329,976,402
100.00%
598,518,392
100%
1,928,494,794
100.00%
2
Notes :
1.
The shareholding of Huahong Group includes Shanghai Hua Hong International, Inc., its wholly-owned
subsidiary. The shareholding of SAIL includes Wisdom Power Technology Limited, its wholly-owned
subsidiary. Others include Haitong Innovation Securities Investment Co., Ltd. (海通創新證券投資有限公司),
Guotai Junan Zhengyu Investment Co., Ltd. (國泰君安證裕投資有限公司) and Shanghai Technology Venture
Investment (Group) Co., Ltd. (上海科技創業投資(集團)有限公司).
2.
Percentage holdings are subject to rounding adjustments and may not add up to the aggregate figures shown or
100%.
3.
China IC Fund is not one of the Vendors, and is not considered to be part of the Huahong Concert Group given
it is not a party acting in concert with Huahong Group nor China IC Fund II to consolidate control over the
Company, based on its historical investment in the Company and different compositions of fund investors and
decision-making process vis-à-vis China IC Fund II.
By Order of the Board
Hua Hong Grace Semiconductor Limited
Dr. Peng Bai
Chairman and Executive Director
Shanghai, the PRC
11 September 2026
As at the date of this announcement, the directors of the Company are:
Executive Director:
Peng Bai (Chairman and President )
Non-executive Directors:
Jun Ye
Guodong Sun
Bo Chen
Chengyan Xiong
Independent Non-executive Directors:
Stephen Tso Tung Chang
Kwai Huen Wong, JP
Songlin Feng
3
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分內容而產生或因倚
賴該等內容而引致的任何損失承擔任何責任。
本公告僅供參考，並不構成收購、購買或認購本公司任何證券的邀請或要約。
HUA HONG GRACE SEMICONDUCTOR LIMITED
華虹宏力半導體有限公司
（於香港註冊成立之有限公司）
（股份代號：01347）
完成主要及關連交易
茲提述（其中包括）(i)本公司日期為二零二五年八月三十一日、二零二五年十二月
三十一日、二零二六年二月十日、二零二六年三月三十日、二零二六年六月十一
日及二零二六年七月八日的公告；及(ii)本公司日期為二零二六年一月二十二日的
通函（「通函」），各自內容均有關（其中包括）建議收購事項。除本公告另有界定
外，本公告所用詞彙與通函所界定者具有相同涵義。
本公司欣然宣佈，收購協議（經補充協議補充）所載的所有先決條件均已達成，而
完成已於二零二六年九月九日發生。根據收購協議（經補充協議補充），總代價人
民幣8,267,902,153.26元已透過根據建議收購事項特別授權配發及發行190,768,392
股代價股份（連同代替零碎股份的現金代價）結算。所有該等代價股份已於二零二
六年九月九日在中國證券登記結算有限責任公司上海分公司完成登記。代價股份
的發行價為每股代價股份人民幣43.34元，不低於定價基準日前120個交易日人民
幣股份平均交易價格的80%。
於建議收購事項完成時，各賣方的最終經調整禁售期已釐定如下：
(1) 華虹集團自代價股份發行日期（即二零二六年九月九日）起36個月內不得轉讓
任何所認購的代價股份。倘(i)完成後六個月內股份連續20個交易日的收市價
均低於代價股份發行價，或(ii)完成後六個月末股份收市價低於代價股份發行
價，則華虹集團所取得的代價股份的禁售期將自動延長額外六個月。
(2) 上海集成電路基金自代價股份發行日期起6個月內不得轉讓任何所認購的代價
股份。
1
(3) 國家集成電路產業基金II自代價股份發行日期起(i)12個月內不得轉讓其所認
購的10,163,843股代價股份；及(ii)36個月內不得轉讓其所認購的9,892,171股
代價股份。
(4) 國投先導基金自代價股份發行日期起36個月內不得轉讓任何所認購的代價股
份。
上述賣方的禁售期安排亦適用於賣方於代價股份發行完成後，因送股、轉增股本
及 ╱ 或將股份溢價轉為股本而獲得的任何額外人民幣股份。
於代價股份發行完成後，本公司已發行股份總數由1,737,726,402 股增加至
1,928,494,794股，其中已發行人民幣股份總數由407,750,000股增加至598,518,392
股，而已發行香港股份總數為1,329,976,402股。本公司已直接及間接擁有標的全
部已發行股本的權益。因此，標的已成為本公司的全資附屬公司，而標的公司的
業績、資產及負債將綜合入賬至本集團的財務報表。
對本公司股權架構的影響
下表載列緊隨完成以及配發及發行代價股份後本公司的股權架構：
股東
所持
香港股份
佔所持
香港股份
百分比
佔所持
人民幣股份
所持
百分比
（附註2）
人民幣股份
（附註2）
佔已發行
所持 股本百分比
（附註2）
股份總數
華虹集團（附註1）
上海聯和（附註1）
上海集成電路基金
國投先導基金
國家集成電路產業基金II
其他（附註1）
347,605,650
188,961,147
–
–
–
–
26.14%
14.21%
–%
–%
–%
–%
125,530,570
–
30,761,109
15,619,216
68,390,263
16,856,987
20.97%
–%
5.14%
2.61%
11.43%
2.82%
473,136,220
188,961,147
30,761,109
15,619,216
68,390,263
16,856,987
24.53%
9.80%
1.60%
0.81%
3.55%
0.87%
華虹一致行動集團小計
536,566,797
40.34%
257,158,145
42.97%
793,724,942
41.16%
國家集成電路
產業基金（附註3）
其他公眾股東
62,351,603
731,058,002
4.69%
54.97%
–
341,360,247
–%
62,351,603
57.03% 1,072,418,249
3.23%
55.61%
總計：
1,329,976,402
100.00%
598,518,392
100% 1,928,494,794
100.00%
2
附註：
1.
華虹集團的股權包括其全資附屬公司上海華虹國際有限公司。上海聯和的股權包括其全資
附屬公司Wisdom Power Technology Limited。其他包括海通創新證券投資有限公司、國泰
君安證裕投資有限公司及上海科技創業投資（集團）有限公司。
2.
持股百分比經四捨五入調整，可能與所示總計數字或100%不符。
3.
國家集成電路產業基金並非賣方之一，且不被視為華虹一致行動集團的一部分，原因為基
於其過往於本公司的投資以及相較國家集成電路產業基金II，基金投資者及決策過程組成
不同，其並非與華虹集團或國家集成電路產業基金II採取一致行動以鞏固對本公司控制權
的一方。
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
二零二六年九月十一日
於本公告日期，本公司董事分別為：
執行董事：
白鵬（主席兼總裁）
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
3
for the contents of this announcement, make no representation as to its accuracy or completeness and expressly
disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the
contents of this announcement.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase,
or subscribe for any securities of the Company.
HUA HONG GRACE SEMICONDUCTOR LIMITED
華虹宏力半導體有限公司
(Incorporated in Hong Kong with limited liability)
(Stock Code: 01347)
COMPLETION OF THE MAJOR AND CONNECTED TRANSACTION
References are made to, amongst others, (i) the announcements of the Company dated 31 August
2025, 31 December 2025, 10 February 2026, 30 March 2026, 11 June 2026 and 8 July 2026;
and (ii) the circular of the Company dated 22 January 2026 (the “Circular”), each in relation to,
amongst others, the Proposed Acquisition. Unless otherwise defined herein, capitalised terms used
in this announcement shall have the same meanings as those defined in the Circular.
The Company is pleased to announce that all the conditions precedent as set out in the Acquisition
Agreement (as supplemented by the Supplemental Agreement) have been satisfied and Completion
took place on 9 September 2026. Pursuant to the Acquisition Agreement (as supplemented by
the Supplemental Agreement), the Total Consideration of RMB8,267,902,153.26 was settled by
the allotment and issuance of 190,768,392 Consideration Shares under the Proposed Acquisition
Specific Mandate (together with such cash consideration in lieu of fractional Shares). All
such Consideration Shares have been registered with the Shanghai Branch of China Securities
Depository and Clearing Corporation Limited on 9 September 2026. The issue price of the
Consideration Shares is RMB43.34 per Consideration Share, representing not less than 80% of the
Average Trading Price of the RMB Shares for the 120 trading days prior to the Pricing Benchmark
Date.
At the Completion of the Proposed Acquisition, the final adjusted lock-up period of each Vendor
has been determined as follows:
(1)
Huahong Group shall not transfer any of the Consideration Shares subscribed for within 36
months from the date of issue of the Consideration Shares (i.e. 9 September 2026). In the
event that (i) within 6 months after the Completion, the closing price of the Shares for 20
consecutive trading days is lower than the Consideration Shares issue price, or (ii) the closing
price of the Shares at the end of the 6-month period after the Completion is lower than the
Consideration Shares issue price, the lock-up period on the Consideration Shares obtained by
Huahong Group shall automatically extend for an additional 6-month period.
(2)
Shanghai IC Fund shall not transfer any of the Consideration Shares subscribed for within 6
months from the date of issue of the Consideration Shares.
1
(3)
China IC Fund II shall not transfer (i) 10,163,843 Consideration Shares subscribed for
within 12 months from the date of issue of the Consideration Shares, and (ii) 9,892,171
Consideration Shares subscribed for within 36 months from the date of issue of the
Consideration Shares.
(4)
Guotou IC Fund shall not transfer any of the Consideration Shares subscribed for within 36
months from the date of issue of the Consideration Shares.
The abovementioned lock-up period arrangement of the Vendors shall also apply to any additional
RMB Shares received by the Vendors as a result of bonus issues, capitalization issues, and/
or conversion of share premium into share capital after completion of the Consideration Share
Issuance.
Upon completion of the Consideration Share Issuance, the total issued Shares of the Company
increased from 1,737,726,402 Shares to 1,928,494,794 Shares, of which the total issued RMB
Shares increased from 407,750,000 Shares to 598,518,392 Shares, and the total issued Hong Kong
Shares are 1,329,976,402 Shares. The Company has become, directly and indirectly, interested
in the entire issued share capital of the Target. As such, the Target has become a wholly-owned
subsidiary of the Company and the financial results and assets and liabilities of the Target will be
consolidated into the financial statements of the Group.
EFFECT ON THE SHAREHOLDING STRUCTURE OF THE COMPANY
The following table sets out the shareholding structure of the Company immediately upon
Completion and the allotment and issuance of the Consideration Shares:
Shareholders
Percentage of
Hong Kong
Hong Kong
Shares held Shares held (Note 2)
RMB Shares
held
Percentage of
RMB Shares
held (Note 2)
Total Shares
held
Percentage of
issued Share
capital (Note 2)
Huahong Group (Note 1)
SAIL (Note 1)
Shanghai IC Fund
Guotou IC Fund
China IC Fund II
Others (Note 1)
347,605,650
188,961,147
–
–
–
–
26.14%
14.21%
–%
–%
–%
–%
125,530,570
–
30,761,109
15,619,216
68,390,263
16,856,987
20.97%
–%
5.14%
2.61%
11.43%
2.82%
473,136,220
188,961,147
30,761,109
15,619,216
68,390,263
16,856,987
24.53%
9.80%
1.60%
0.81%
3.55%
0.87%
Huahong Concert Group sub-total
536,566,797
40.34%
257,158,145
42.97%
793,724,942
41.16%
China IC Fund (Note 3)
Other public Shareholders
62,351,603
731,058,002
4.69%
54.97%
–
341,360,247
–%
57.03%
62,351,603
1,072,418,249
3.23%
55.61%
Total:
1,329,976,402
100.00%
598,518,392
100%
1,928,494,794
100.00%
2
Notes :
1.
The shareholding of Huahong Group includes Shanghai Hua Hong International, Inc., its wholly-owned
subsidiary. The shareholding of SAIL includes Wisdom Power Technology Limited, its wholly-owned
subsidiary. Others include Haitong Innovation Securities Investment Co., Ltd. (海通創新證券投資有限公司),
Guotai Junan Zhengyu Investment Co., Ltd. (國泰君安證裕投資有限公司) and Shanghai Technology Venture
Investment (Group) Co., Ltd. (上海科技創業投資(集團)有限公司).
2.
Percentage holdings are subject to rounding adjustments and may not add up to the aggregate figures shown or
100%.
3.
China IC Fund is not one of the Vendors, and is not considered to be part of the Huahong Concert Group given
it is not a party acting in concert with Huahong Group nor China IC Fund II to consolidate control over the
Company, based on its historical investment in the Company and different compositions of fund investors and
decision-making process vis-à-vis China IC Fund II.
By Order of the Board
Hua Hong Grace Semiconductor Limited
Dr. Peng Bai
Chairman and Executive Director
Shanghai, the PRC
11 September 2026
As at the date of this announcement, the directors of the Company are:
Executive Director:
Peng Bai (Chairman and President )
Non-executive Directors:
Jun Ye
Guodong Sun
Bo Chen
Chengyan Xiong
Independent Non-executive Directors:
Stephen Tso Tung Chang
Kwai Huen Wong, JP
Songlin Feng
3
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分內容而產生或因倚
賴該等內容而引致的任何損失承擔任何責任。
本公告僅供參考，並不構成收購、購買或認購本公司任何證券的邀請或要約。
HUA HONG GRACE SEMICONDUCTOR LIMITED
華虹宏力半導體有限公司
（於香港註冊成立之有限公司）
（股份代號：01347）
完成主要及關連交易
茲提述（其中包括）(i)本公司日期為二零二五年八月三十一日、二零二五年十二月
三十一日、二零二六年二月十日、二零二六年三月三十日、二零二六年六月十一
日及二零二六年七月八日的公告；及(ii)本公司日期為二零二六年一月二十二日的
通函（「通函」），各自內容均有關（其中包括）建議收購事項。除本公告另有界定
外，本公告所用詞彙與通函所界定者具有相同涵義。
本公司欣然宣佈，收購協議（經補充協議補充）所載的所有先決條件均已達成，而
完成已於二零二六年九月九日發生。根據收購協議（經補充協議補充），總代價人
民幣8,267,902,153.26元已透過根據建議收購事項特別授權配發及發行190,768,392
股代價股份（連同代替零碎股份的現金代價）結算。所有該等代價股份已於二零二
六年九月九日在中國證券登記結算有限責任公司上海分公司完成登記。代價股份
的發行價為每股代價股份人民幣43.34元，不低於定價基準日前120個交易日人民
幣股份平均交易價格的80%。
於建議收購事項完成時，各賣方的最終經調整禁售期已釐定如下：
(1) 華虹集團自代價股份發行日期（即二零二六年九月九日）起36個月內不得轉讓
任何所認購的代價股份。倘(i)完成後六個月內股份連續20個交易日的收市價
均低於代價股份發行價，或(ii)完成後六個月末股份收市價低於代價股份發行
價，則華虹集團所取得的代價股份的禁售期將自動延長額外六個月。
(2) 上海集成電路基金自代價股份發行日期起6個月內不得轉讓任何所認購的代價
股份。
1
(3) 國家集成電路產業基金II自代價股份發行日期起(i)12個月內不得轉讓其所認
購的10,163,843股代價股份；及(ii)36個月內不得轉讓其所認購的9,892,171股
代價股份。
(4) 國投先導基金自代價股份發行日期起36個月內不得轉讓任何所認購的代價股
份。
上述賣方的禁售期安排亦適用於賣方於代價股份發行完成後，因送股、轉增股本
及 ╱ 或將股份溢價轉為股本而獲得的任何額外人民幣股份。
於代價股份發行完成後，本公司已發行股份總數由1,737,726,402 股增加至
1,928,494,794股，其中已發行人民幣股份總數由407,750,000股增加至598,518,392
股，而已發行香港股份總數為1,329,976,402股。本公司已直接及間接擁有標的全
部已發行股本的權益。因此，標的已成為本公司的全資附屬公司，而標的公司的
業績、資產及負債將綜合入賬至本集團的財務報表。
對本公司股權架構的影響
下表載列緊隨完成以及配發及發行代價股份後本公司的股權架構：
股東
所持
香港股份
佔所持
香港股份
百分比
佔所持
人民幣股份
所持
百分比
（附註2）
人民幣股份
（附註2）
佔已發行
所持 股本百分比
（附註2）
股份總數
華虹集團（附註1）
上海聯和（附註1）
上海集成電路基金
國投先導基金
國家集成電路產業基金II
其他（附註1）
347,605,650
188,961,147
–
–
–
–
26.14%
14.21%
–%
–%
–%
–%
125,530,570
–
30,761,109
15,619,216
68,390,263
16,856,987
20.97%
–%
5.14%
2.61%
11.43%
2.82%
473,136,220
188,961,147
30,761,109
15,619,216
68,390,263
16,856,987
24.53%
9.80%
1.60%
0.81%
3.55%
0.87%
華虹一致行動集團小計
536,566,797
40.34%
257,158,145
42.97%
793,724,942
41.16%
國家集成電路
產業基金（附註3）
其他公眾股東
62,351,603
731,058,002
4.69%
54.97%
–
341,360,247
–%
62,351,603
57.03% 1,072,418,249
3.23%
55.61%
總計：
1,329,976,402
100.00%
598,518,392
100% 1,928,494,794
100.00%
2
附註：
1.
華虹集團的股權包括其全資附屬公司上海華虹國際有限公司。上海聯和的股權包括其全資
附屬公司Wisdom Power Technology Limited。其他包括海通創新證券投資有限公司、國泰
君安證裕投資有限公司及上海科技創業投資（集團）有限公司。
2.
持股百分比經四捨五入調整，可能與所示總計數字或100%不符。
3.
國家集成電路產業基金並非賣方之一，且不被視為華虹一致行動集團的一部分，原因為基
於其過往於本公司的投資以及相較國家集成電路產業基金II，基金投資者及決策過程組成
不同，其並非與華虹集團或國家集成電路產業基金II採取一致行動以鞏固對本公司控制權
的一方。
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
二零二六年九月十一日
於本公告日期，本公司董事分別為：
執行董事：
白鵬（主席兼總裁）
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
3
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