Earnings release
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1 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. HUA HONG SEMICONDUCTOR LIMITED 華虹半導體有限公司 (Incorporated in Hong Kong with limited liability) Stock Code (01347) News Release Reports 2025 Third Quarter Results All currency figures in this report are in US Dollars unless indicated otherwise. The consolidated financial statements are prepared in accordance with HKFRS. Hong Kong Special Administrative Region of the People’s Republic of China – November 6, 2025. Hua Hong Semiconductor Limited (SEHK: 01347; SSE STAR MARKET: 688347) (the “Company”), a global, leading pure-play foundry, today announced its consolidated operational results for the quarter ending September 30, 2025. Third Quarter 2025 Highlights (Unaudited) Revenue reached an all-time high of US$635.2 million, 20.7% over 3Q 2024 and 12.2% above 2Q 2025. Gross margin was 13.5%, 1.3 percentage points over 3Q 2024 and 2.6 percentage points above 2Q 2025. Net profit attributable to shareholders of the parent company was US$25.7 million, 42.6% lower than 3Q 2024 and 223.5% above 2Q 2025. Fourth Quarter 2025 Guidance We expect revenue to be approximately US$650 million to US$660 million. We expect gross margin to be in the range of 12% to 14%.
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2 President’s Message Dr. Peng Bai, Chairman and President of the Company, commented on the third quarter performance for 2025: "Third quarter 2025 sales revenue for Hua Hong Semiconductor reached a record high of US$635.2 million, in line with guidance, while gross margin stood at 13.5%, above guidance. Driven by the recovery in global semiconductor demand and the Company's lean management practices, our capacity utilization remained high. Both sales revenue and gross margin showed year -on-year and quarter-on- quarter growth. The enhancements in our core competencies — including process technology R&D, market development, and ope rations — along with the results of our cost -reduction and efficiency - improvement initiatives, are gradually becoming evident. Our overall profitability is improving, laying a solid foundation for long-term sustainable development." Dr. Bai continued, "Hu a Hong Semiconductor possesses extensive expertise and exceptional management experience in specialty technology. Facing the rapidly evolving global semiconductor landscape, the Company must continuously advance across multiple core dimensions, such as technology nodes, process capabilities, and capacity expansion. The acquisition, which is currently progressing smoothly, will further increase our production capacity and diversify our process platform portfolio, while creating synergies with our 12-inch production line in Wuxi, to strengthen our profitability. Furthermore, the Company is actively engaged in strategic capacity planning, focusing on technological breakthroughs and ecosystem development, to continuously enhance our core competitiveness amidst the global industry transformation."
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3 Webcast/Conference Call Announcement Date: Thursday, November 6, 2025 Time: 17:00 Hong Kong/Shanghai Time 04:00 EST Presenters: Dr. Peng Bai, Chairman and President of the Company Mr. Daniel Wang, Executive Vice President and Chief Financial Officer Webcast: The call will be webcast live with audio and slides at: https://www.huahonggrace.com/html/ir_calendar.php or https://edge.media-server.com/mmc/p/e4idyvb2 (Note: registration is required to access the webcast.) Dial-in Details: Please register in advance of the conference using the link provided below. U pon registering, you will be provided with participant dial-in numbers and personal PIN. https://register-conf.media-server.com/register/BI0669e89919e0410ebaab072b3eb6b049 Important Note: Before the meeting starts, you will need the personal PIN to join the call. Please check and save the confirmation email after registering. For security reasons, please do not share your personal PIN with anyone else. Replay: A recording will be available for replay at the below website about 2 hours after the event and will be available for 12 months. https://www.huahonggrace.com/html/ir_calendar.php About the Company Hua Hong Semiconductor Limited (Stock Code: 688347.SH/ 01347.HK) (the “Company”) is a global leading pure-play foundry with specialty technologies which offers a diverse array of wafer foundry and supporting services to its customers, implementing “8 -inch + 12 -inch” and advanced “Specialty IC + Power Discrete” development strategies. The Company focuses on continuous innovation of specialty technologies, including embedded/standal one non-volatile memory (NVM), power discrete, analog & power management, and logic & RF, supporting applications in emerging areas, such as new energy vehicles, green energy, and the Internet of Things. Of special note is the Company’s outstanding quality control system that satisfies the strict requirements of automotive chip manufacturing. The Company is a member of the Hua Hong Group, which is an industrial group in China that owns mainstream "8 -inch + 12-inch" advanced IC manufacturing process technologies. The Company operates three 8 -inch wafer fabrication facilities in Shanghai Jinqiao and Shanghai Zhangjiang. In addition, the Company has built two global leading 12 -inch wafer fabrication facilities devoted to specialty processes in Wuxi National Hi -Tech District, one of which is the world’s first 12 - inch power semiconductor foundry. For more information, please visit: www.huahonggrace.com.
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4 Summary of Operating Results (Amounts in US$ thousands, except for EPS and operating data) 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) 2Q 2025 (Unaudited) YoY Change QoQ Change Revenue 635,180 526,306 566,065 20.7 % 12.2 % Gross profit 85,854 64,007 61,611 34.1 % 39.3 % Gross margin 13.5 % 12.2 % 10.9 % 1.3 2.6 Operating expenses (100,433) (81,430) (97,917) 23.3 % 2.6 % Other income net 17,752 51,797 10,602 (65.7)% 67.4 % Profit / (loss) before tax 3,173 34,374 (25,704) (90.8)% (112.3)% Income tax expense (10,363) (11,461) (7,097) (9.6)% 46.0 % (Loss) / profit for the period (7,190) 22,913 (32,801) (131.4)% (78.1)% Net profit margin (1.1)% 4.4 % (5.8)% (5.5) 4.7 Attributable to: Owners of the parent 25,725 44,816 7,952 (42.6)% 223.5 % Non-controlling interests (32,915) (21,903) (40,753) 50.3 % (19.2)% Earnings per share attributable to owners of the parent Basic 0.015 0.026 0.005 (42.3)% 200.0 % Diluted 0.015 0.026 0.005 (42.3)% 200.0 % Wafers shipped (in thousands 8” equivalent wafers) 1,400 1,200 1,305 16.7 % 7.3 % Capacity utilization1 109.5 % 105.3 % 108.3 % 4.2 1.2 ROE2 1.6 % 2.8 % 0.4 % (1.2) 1.2 1The capacity utilization is calculated based on average monthly equivalent wafers output divided by total estimated monthly capacity. 2Profit attributable to owners of the parent / weighted average net assets attributable to owners of the parent. Third Quarter 2025 Revenue reached an all-time high of US$635.2 million, 20.7% over 3Q 2024 and 12.2% over 2Q 2025, primarily driven by increased wafer shipments and improved average selling price. Gross margin was 13.5%, 1.3 percentage points over 3Q 2024, primarily driven by improved capacity utilization and average selling price, partially offset by increased depreciation costs, and 2.6 percentage points above 2Q 2025, primarily driven by improved average selling price. Operating expenses were US$100.4 million, 23.3% over 3Q 2024, primarily due to increased engineering wafer costs and depreciation expenses, and 2.6% over 2Q 2025. Other income net was US$17.8 million, 65.7% lower than 3Q 2024, primarily due to decreased foreign exchange gains and interest income, partially offset by decreased finance costs, and 67.4% over 2Q 2025, primarily driven by foreign exchange gains versus foreign exchange losses in 2Q 2025. Income tax expense was US$10.4 million, 9.6% lower than 3Q 2024, primarily due to decreased taxable income. Net loss for the period was US$7.2 million, compared to a profit of US$22.9 million in 3Q 2024 and a loss of US$32.8 million in 2Q 2025. Net profit attributable to shareholders of the parent company was US$25.7 million, 42.6% lower than 3Q 2024 and 223.5% above 2Q 2025. Basic earnings per share was US$0.015, 42.3% lower than 3 Q 2024, and 200.0% over 2Q 2025. ROE (annualized) was 1.6%,1.2 percentage points lower than 3Q 2024, and 1.2 percentage points above 2Q 2025.
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5 Analysis of Revenue Revenue by service type 3Q 2025 US$000 (Unaudited) 3Q 2025 % (Unaudited) 3Q 2024 US$000 (Unaudited) 3Q 2024 % (Unaudited) YoY Change US$000 YoY Change % Wafers 610,810 96.2 % 497,847 94.6 % 112,963 22.7 % Others 24,370 3.8 % 28,459 5.4 % (4,089) (14.4)% Total revenue 635,180 100.0 % 526,306 100.0 % 108,874 20.7 % Analysis of Revenue Revenue by wafer size 3Q 2025 US$000 (Unaudited) 3Q 2025 % (Unaudited) 3Q 2024 US$000 (Unaudited) 3Q 2024 % (Unaudited) YoY Change US$000 YoY Change % 8” wafers 258,805 40.7 % 263,139 50.0 % (4,334) (1.6)% 12” wafers 376,375 59.3 % 263,167 50.0 % 113,208 43.0 % Total revenue 635,180 100.0 % 526,306 100.0 % 108,874 20.7 % 96.2% of total revenue was derived from the sale of semiconductor wafers in 3Q 2025. Revenues from 8" wafers and 12" wafers were US$258.8 million and US$376.4 million, respectively, in 3Q 2025.
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6 Analysis of Revenue Revenue by geography 3Q 2025 US$000 (Unaudited) 3Q 2025 % (Unaudited) 3Q 2024 US$000 (Unaudited) 3Q 2024 % (Unaudited) YoY Change US$000 YoY Change % China3 522,621 82.3 % 434,532 82.5 % 88,089 20.3 % North America4 63,832 10.0 % 46,709 8.9 % 17,123 36.7 % Other Asia5 30,302 4.8 % 28,707 5.5 % 1,595 5.6 % Europe 18,425 2.9 % 16,358 3.1 % 2,067 12.6 % Total revenue 635,180 100.0 % 526,306 100.0 % 108,874 20.7 % 3Includes Chinese Mainland and Hong Kong. 4Includes a major customer in US that was acquired by a n Europe headquartered company in 2020. 5Includes Taiwan, China and Japan. Revenue from China was US$522.6 million, contributing 82.3% of total revenue and an increase of 20.3% compared to 3Q 2024, mainly driven by increased demand for flash, other PMIC, and MCU products. Revenue from North America was US$63.8 million, an increase of 36.7% compared to 3Q 2024, mainly driven by increased demand for other PMIC and MCU products. Revenue from Other Asia was US$30.3 million, an increase of 5.6% compared to 3Q 2024. Revenue from Europe was US$18.4 million, an increase of 12.6% compared to 3Q 2024, mainly driven by increased demand for IGBT and smart card ICs.
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7 Analysis of Revenue Revenue by technology platform 3Q 2025 US$000 (Unaudited) 3Q 2025 % (Unaudited) 3Q 2024 US$000 (Unaudited) 3Q 2024 % (Unaudited) YoY Change US$000 YoY Change % Embedded NVM 159,658 25.1 % 132,598 25.2 % 27,060 20.4 % Standalone NVM 60,598 9.5 % 29,334 5.6 % 31,264 106.6 % Power Discrete 169,036 26.7 % 163,253 31.1 % 5,783 3.5 % Logic & RF 81,127 12.8 % 77,010 14.6 % 4,117 5.3 % Analog & PM 164,761 25.9 % 124,111 23.5 % 40,650 32.8 % Total revenue 635,180 100.0 % 526,306 100.0 % 108,874 20.7 % Revenue from embedded NVM was US$159.7 million, an increase of 20.4% compared to 3Q 2024, mainly driven by increased demand for MCU products. Revenue from standalone NVM was US$ 60.6 million, an increase of 106.6% compared to 3Q 2024, mainly driven by increased demand for flash products. Revenue from power discrete was US$169.0 million, an increase of 3.5% compared to 3Q 2024, mainly driven by increased demand for super junction products. Revenue from logic & RF was US$81.1 million, an increase of 5.3% over 3Q 2024, mainly driven by increased demand for logic products. Revenue from analog & power management was US$164.8 million, an increase of 32.8% over 3Q 2024, mainly driven by increased demand for other PMIC products.
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8 Analysis of Revenue Revenue by process technology node 3Q 2025 US$000 (Unaudited) 3Q 2025 % (Unaudited) 3Q 2024 US$000 (Unaudited) 3Q 2024 % (Unaudited) YoY Change US$000 YoY Change % ≤65nm 172,197 27.1 % 116,596 22.2 % 55,601 47.7 % 90nm & 95nm 144,396 22.7 % 98,966 18.8 % 45,430 45.9 % 0.11µ m & 0.13µ m 73,231 11.5 % 68,274 13.0 % 4,957 7.3 % 0.15µ m & 0.18µ m 36,492 5.7 % 37,894 7.2 % (1,402) (3.7)% 0.25µ m 3,163 0.5 % 4,155 0.8 % (992) (23.9)% ≥0.35µm 205,701 32.5 % 200,421 38.0 % 5,280 2.6 % Total revenue 635,180 100.0 % 526,306 100.0 % 108,874 20.7 % Revenue from 65nm and below technology nodes was US$172.2 million, an increase of 47.7% over 3Q 2024, mainly driven by increased demand for flash, logic, and analog products. Revenue from the 90nm & 95nm technology nodes was US$144.4 million, an increase of 45.9% over 3Q 2024, mainly driven by increased demand for other PMIC and MCU products. Revenue from the 0.11µ m & 0.13µ m technology nodes was US$73.2 million, an increase of 7.3% compared to 3Q 2024, mainly driven by increased demand for MCU products. Revenue from the 0.15µ m & 0.18µ m technology nodes was US$36.5 million, a decrease of 3.7% compared to 3Q 2024. Revenue from the 0.25µ m technology node was US$3.2 million, a decrease of 23.9% compared to 3Q 2024, mainly due to decreased demand for discrete products. Revenue from the 0.35µm and above technology nodes was US$205.7 million, an increase of 2.6% compared to 3Q 2024, mainly driven by increased demand for super junction products.
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9 Analysis of Revenue Revenue by end market distribution 3Q 2025 US$000 (Unaudited) 3Q 2025 % (Unaudited) 3Q 2024 US$000 (Unaudited) 3Q 2024 % (Unaudited) YoY Change US$000 YoY Change % Consumer electronics 407,544 64.1 % 330,928 62.9 % 76,616 23.2 % Industrial & automotive 137,858 21.7 % 123,853 23.5 % 14,005 11.3 % Communications 79,843 12.6 % 65,952 12.5 % 13,891 21.1 % Computing 9,935 1.6 % 5,573 1.1 % 4,362 78.3 % Total revenue 635,180 100.0 % 526,306 100.0 % 108,874 20.7 % Capacity6 and Capacity Utilization 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) 2Q 2025 (Unaudited) Total capacity (in thousands 8” equivalent wafers) 468 391 447 Overall capacity utilization 109.5% 105.3% 108.3% Wafer Shipments in thousands 8” equivalent wafers 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) 2Q 2025 (Unaudited) YoY Change QoQ Change Wafer shipments 1,400 1,200 1,305 16.7 % 7.3 % 6 Wafers per month at the end of the period, calculated on a 30 -day basis for comparison purposes. Revenue from consumer electronics, our largest end market segment , contributed US$407.5 million, reaching 64.1% of total revenue, a n increase of 23.2% over 3Q 2024, mainly driven by increased demand for flash, other PMIC, and MCU products. Revenue from industrial & automotive was US$137.9 million, an increase of 11.3% compared to 3Q 2024, mainly driven by increased demand for MCU and other PMICs. Revenue from communications was US$79.8 million, an increase of 21.1% compared to 3Q 2024, mainly driven by increased demand for analog and RF products. Revenue from computing was US$9.9 million, an increase of 78.3% compared to 3Q 2024, mainly driven by increased demand for general MOSFET and MCU products. Monthly capacity was 468,000 8-inch equivalent wafers at the end of 3Q 2025. Overall capacity utilization was 109.5% in 3Q 2025, 1.2 percentage points over 2Q 2025. Wafer shipments were 1,400,000, a n increase of 16.7% year over year , and 7.3% quarter over quarter.
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10 Operating Expenses Analysis Amounts in US$ thousands 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) 2Q 2025 (Unaudited) YoY Change QoQ Change Selling and distribution expenses 2,332 2,241 2,630 4.1 % (11.3)% Administrative expenses7 98,101 79,189 95,287 23.9 % 3.0 % Operating expenses 100,433 81,430 97,917 23.3 % 2.6 % Other Income Net Analysis Amounts in US$ thousands 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) 2Q 2025 (Unaudited) YoY Change QoQ Change Rental income 3,625 3,612 3,460 0.4 % 4.8 % Interest income 13,762 26,710 15,294 (48.5)% (10.0)% Foreign exchange gains / (losses) 3,746 29,270 (1,064) (87.2)% (452.1)% Share of profit of associates 1,843 1,087 591 69.5 % 211.8 % Finance costs (18,249) (27,275) (18,250) (33.1)% (0.0)% Government subsidies 12,741 18,535 9,866 (31.3)% 29.1 % Others 284 (142) 705 (300.0)% (59.7)% Other income net 17,752 51,797 10,602 (65.7)% 67.4 % 7Administrative expenses include government grants recognized as an offset item . Operating expenses were US$100.4 million, 23.3% over 3Q 2024, primarily due to increased engineering wafer costs and depreciation expenses, and 2.6% over 2Q 2025. Other income net was US$17.8 million, 65.7% lower than 3Q 2024, primarily due to decreased foreign exchange gains and interest income, partially offset by decreased finance costs, and 67.4% over 2Q 2025, primarily driven by foreign exchange gains versus foreign exchange losses in 2Q 2025.
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11 Cash Flow Analysis Amounts in US$ thousands 3Q 2025 (Unaudited) 3Q 2024 (Unaudited) 2Q 2025 (Unaudited) YoY Change QoQ Change Net cash flows generated from / (used in) operating activities 184,150 (26,838) 169,630 (786.2)% 8.6 % Net cash flows used in investing activities (253,296) (715,920) (385,556) (64.6)% (34.3)% Net cash flows generated from / (used in) financing activities 104,163 (5,007) (25,185) (2,180.3)% (513.6)% Effect of exchange rate changes 22,816 90,648 8,076 (74.8)% 182.5 % Net change in cash 57,833 (657,117) (233,035) (108.8)% (124.8)% Capital Structure Amounts in US$ thousands 30-Sep-2025 (Unaudited) 30-Jun-2025 (Unaudited) Total assets 12,511,666 12,237,080 Total liabilities 3,502,618 3,363,437 Total equity 9,009,048 8,873,643 Debt ratio8 28.0% 27.5% Capital Expenditures Amounts in US$ thousands 3Q 2025 (Unaudited) 2Q 2025 (Unaudited) Hua Hong 8” 19,305 17,612 Hua Hong Wuxi 11,898 13,676 Hua Hong Manufacturing 230,691 376,440 Total 261,894 407,728 8 Debt ratio is calculated based on total liabilities / total assets. Net cash flows generated from operating activities was US$184.2 million, compared to net cash flows used in operating activitie s of US$26.8 million , primarily due to increased receipts from customers. Net cash flow s used in investing activities was US$ 253.3 million, including US$261.9 million investment in fixed assets and US$14.0 million investment in an equity instrument, partially offset by US$15.6 million interest income and US$ 7.0 million receipts of government grants of equipment. Net cash flow s generated from financing activities was US$ 104.2 million, including US$99.9 million p roceeds from bank borrowings and US$14.4 million proceeds from share option exercises, partially offset by US$5.0 million interest payments , US$3.2 million of bank principal repayments and US$1.9 million lease payments. Capital expenditures were US$261.9 million in 3Q 2025, including US$230.7 million for Hua Hong Manufacturing, US$19.3 million for Hua Hong 8”, and US$11.9 million for Hua Hong Wuxi.
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12 Liquidity Amounts in US$ thousands 30-Sep-2025 (Unaudited) 30-Jun-2025 (Unaudited) Completed properties held for sale 223,302 221,661 Inventories 526,840 513,434 Trade and notes receivables 257,067 264,329 Prepayments, other receivables and other assets 494,222 452,513 Due from related parties 22,150 14,360 Restricted and time deposits 31,993 31,756 Cash and cash equivalents 3,904,733 3,846,900 Total current assets 5,460,307 5,344,953 Trade payables 275,064 263,352 Other payables and accruals 704,754 716,648 Interest-bearing bank borrowings 340,686 341,313 Lease liabilities 3,598 5,839 Government grants 66,498 59,040 Due to related parties 7,832 8,560 Income tax payable 14,341 16,046 Total current liabilities 1,412,773 1,410,798 Net working capital 4,047,534 3,934,155 Quick ratio 3.3x 3.3x Current ratio 3.9x 3.8x Trade and notes receivables turnover days 37 44 Inventories turnover days 85 88 Please visit Company’s website at www.huahonggrace.com for further details regarding recent announcements. Inventories increased from US$5 13.4 million on 30 June 2025 to US$526.8 million on 30 September 2025, mainly due to increased work- in-progress and finished goods of our new fab. Prepayments, other receivables and other assets increased from US$452.5 million on 3 0 June 2025 to US$494.2 million on 30 September 2025, mainly due to increased value-added tax credit. Trade payables increased from US$263.4 million on 30 June 2025 to US$275.1 million on September 2025, due to increased purchase. Other payables and accruals decreased from US$716.6 million on 30 June 2025 to US$704.8 million on 30 September 2025, mainly due to payments for capital expenditures. On 30 September 2025, net working capital was US$4,047.5 million and the current ratio was 3.9. Trade and notes receivables turnover days were 37. Inventories turnover days were 85.
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13 Hua Hong Semiconductor Limited Condensed Consolidated Statements of Profit or Loss (In US$ Thousands Except Share Data) For the Three Months Ended 30-Sep-2025 (Unaudited) 30-Sep-2024 (Unaudited) 30-Jun-2025 (Unaudited) Revenue 635,180 526,306 566,065 Cost of sales (549,326) (462,299) (504,454) Gross profit 85,854 64,007 61,611 Other income and gains 34,361 78,092 29,353 Selling and distribution expenses (2,332) (2,241) (2,630) Administrative expenses (98,101) (79,189) (95,287) Other expenses (203) (107) (1,092) Finance costs (18,249) (27,275) (18,250) Share of profit of associates 1,843 1,087 591 Profit / (loss) before tax 3,173 34,374 (25,704) Income tax expense (10,363) (11,461) (7,097) (Loss) / profit for the period (7,190) 22,913 (32,801) Attributable to: Owners of the parent 25,725 44,816 7,952 Non-controlling interests (32,915) (21,903) (40,753) Earnings per share attributable to owners of parent Basic 0.015 0.026 0.005 Diluted 0.015 0.026 0.005 Shares used in calculating basic earnings per share attributable to owners of parent 1,731,461,953 1,717,612,830 1,726,241,791 Shares used in calculating diluted earnings per share attributable to owners of parent 1,733,014,365 1,721,402,553 1,731,895,843
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14 Hua Hong Semiconductor Limited Condensed Consolidated Statements of Financial Position (In US$ Thousands) As of 30-Sep-2025 (Unaudited) 30-Jun-2025 (Unaudited) 30-Sep-2024 (Unaudited) ASSETS NON-CURRENT ASSETS Property, plant and equipment 6,162,217 6,101,971 5,198,989 Investment property 220,223 218,468 168,433 Right-of-use assets 65,141 66,002 81,372 Intangible assets 33,982 27,313 38,897 Investment in associates 147,349 144,421 144,534 Equity instruments designated at fair value through other comprehensive income 381,305 290,515 290,857 Long term prepayment 41,142 42,672 83,396 Deferred tax assets - 765 795 Total non-current assets 7,051,359 6,892,127 6,007,273 CURRENT ASSETS Completed properties held for sale 223,302 221,661 225,711 Inventories 526,840 513,434 487,480 Trade and notes receivables 257,067 264,329 268,186 Prepayments, other receivables and other assets 494,222 452,513 269,191 Due from related parties 22,150 14,360 25,426 Restricted and time deposits 31,993 31,756 32,443 Cash and cash equivalents 3,904,733 3,846,900 5,766,749 Total current assets 5,460,307 5,344,953 7,075,186 CURRENT LIABILITIES Trade payables 275,064 263,352 273,352 Other payables and accruals 704,754 716,648 1,237,992 Interest-bearing bank borrowings 340,686 341,313 262,296 Lease liabilities 3,598 5,839 4,451 Government grants 66,498 59,040 40,072 Due to related parties 7,832 8,560 10,167 Income tax payable 14,341 16,046 26,494 Total current liabilities 1,412,773 1,410,798 1,854,824 NET CURRENT ASSETS 4,047,534 3,934,155 5,220,362 TOTAL ASSETS LESS CURRENT LIABILITIES 11,098,893 10,826,282 11,227,635 Non-current liabilities Interest-bearing bank borrowings 2,056,802 1,933,971 1,983,494 Lease liabilities 15,329 15,035 19,334 Deferred tax liabilities 17,714 3,633 9,388 Total non-current liabilities 2,089,845 1,952,639 2,012,216 Net assets 9,009,048 8,873,643 9,215,419 Equity and liabilities capital and reserves Share capital 4,982,556 4,960,855 4,936,472 Reserves 1,466,529 1,339,047 1,478,303 Equity attributable to the owners of the company 6,449,085 6,299,902 6,414,775 Non-controlling interests 2,559,963 2,573,741 2,800,644 Total equity 9,009,048 8,873,643 9,215,419
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15 Hua Hong Semiconductor Limited Condensed Consolidated Statement of Cash Flows (In US$ Thousands) For the Three Months Ended 30-Sep-2025 (Unaudited) 30-Sep-2024 (Unaudited) 30-Jun-2025 (Unaudited) Cash flows from operating activities: Profit / (loss) before tax 3,173 34,374 (25,704) Depreciation and amortization 187,269 143,557 179,658 Share of profit of associates (1,843) (1,087) (591) Changes in working capital and others (4,449) (203,682) 16,267 Net cash flows generated from / (used in) operating activities 184,150 (26,838) 169,630 Cash flows from investing activities: Payments for property, plant and equipment and intangible assets (261,894) (734,069) (407,728) Investment in an equity instrument (14,030) - - Investment in an associate - - (2,794) Other cash flow generated from investing activities 22,628 18,149 24,966 Net cash flows used in investing activities (253,296) (715,920) (385,556) Cash flows from financing activities: New bank loans 99,923 2,287 138,096 Proceeds from issue of shares 14,376 1,471 2,218 Repayment of bank borrowings (3,284) (4,476) (125,677) Interest paid (4,971) (3,283) (38,623) Payment of lease liabilities (1,881) (1,004) (1,199) Dividends paid to shareholders - (2) - Net cash flows generated from / (used in) financing activities 104,163 (5,007) (25,185) Net increase / (decrease) in cash and cash equivalents 35,017 (747,765) (241,111) Cash and cash equivalents, beginning of period 3,846,900 6,423,866 4,079,935 Effects of exchange rate changes 22,816 90,648 8,076 Cash and cash equivalents, ending of period 3,904,733 5,766,749 3,846,900 As of the date of this announcement, the directors of the Company are: Executive Directors 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 By order of the Board Hua Hong Semiconductor Limited Peng Bai Chairman and Executive Director Hong Kong SAR, PRC November 6, 2025