澜起科技(688008):MONTAGETECHNOLOGY2025ESGREPORT
原标题:澜起科技:MontageTechnology2025ESGReport development of PCIe 7.0 Retimer and PCIe Switch chips is progressing In 2025, our global R&D technical team continued to grow, reaching steadily, as we move toward offering customers a more comprehensive Giving Back to Society: Commitment to Social Responsibility a total of 583 members, accounting for 74% of the total employee and competitive suite of PCIe interconnect solutions. headcount. Within the R&D team, 64% hold master's degrees or above. Our growth is rooted in society, and we are committed to giving back. Time flows and seasons renew. As the wave of artificial The CXL technology ecosystem is thriving. As the first company During the Reporting Period, we actively engaged in initiatives to Governance Foundation: Safeguarding Long-Term Value with worldwide to introduce Memory Expansion Controller (MXC) chips, strengthen the industry ecosystem and support social welfare. Through intelligence reshapes the global technological Transparency and Compliance we have collaborated with partners to drive the maturation and philanthropic programs focused on education and community care, landscape with overwhelming momentum, Montage commercialization of CXL technology. During the Reporting Period, we fulfilled our responsibilities as a corporate citizen, extending the Corporate governance is the cornerstone of enterprise sustainable Technology ushered in a significant milestone in early we launched MXC chips compliant with the CXL 3.1 standard and have positive impact of technological progress to more communities. development. Leveraging our listing on the Main Board of the Stock begun sampling to key customers. We are encouraged to observe CXL Exchange of Hong Kong (H-share listing), we have continuously 2026—successful listing on the Main Board of the Stock Our listing on the international capital market in early 2026 marks memory pooling and expansion applications gaining traction, with AI optimized the Board structure, enhanced the internal control system, a new beginning for Montage Technology. We are grateful for this Exchange of Hong Kong Limited. Standing at the new inference emerging as a key catalyst for their widespread adoption.and strengthened business ethics and compliance management, further milestone and mindful of the responsibility it brings. Moving forward, starting point of the international capital market, the establishing a sound governance mechanism with clear accountability we will continue to uphold the corporate spirit of "accelerating Ethernet and optical interconnect are critical components in high-and efficient operations. We added one new independent director to Company looks back at 2025: the Company's people with focus & innovation", driving industrial advancement through speed connectivity and a key strategic focus for our expansion. the Board, increasing the proportion of independent directors to 50% technology, ensuring sustainable growth through sound governance, Currently, we are engaged in the development of Ethernet PHY Retimer fully embraced the arrival of the AI era, continuing and making the Board structure more diverse and balanced. We are protecting our environment through green operations, and chips to accelerate our product layout in this field. Leveraging our committed to responsible practices and actively manage our operations to strengthen the foundation of products through contributing sincerely to society. Together with all our stakeholders, long-term expertise in high-speed SerDes technology and proven and supply chain in accordance with the standards of the Responsible we look forward to interconnecting infinite possibilities and powering industrialization capabilities, we are well-positioned to achieve new technological innovation. While continuously creating Business Alliance (RBA) for the global electronics industry, striving to a better future in the unfolding journey of the artificial intelligence era.breakthroughs in both technology and the market. excellent value for customers, the Company remains foster an ethical, transparent, and sustainable business ecosystem. Our Innovation is the cornerstone of Montage Technology's development. information disclosure has been rated Grade A (Excellent) by the Shanghai steadfast and unremitting in its efforts to achieve About Montage Technology About Montage Technology South Korea Xi'an Kunshan Montage Technology was founded in 2004. It is a globally leading fabless integrated Shanghai (Headquarters) circuit design company dedicated to providing innovative, reliable, and high-efficiency interconnect solutions for cloud computing and artificial intelligence. Currently, the Zhuhai Macao Company has two major product lines: interconnect chips and Jintide products. Hainan The Company was listed in July 2019 among the first batch of companies on SSE STAR Market (Stock code: 688008.SH). In February 2026, Montage Technology was listed on the Main Board of the Hong Kong Stock Exchange(stock code:6809) .2022 Delivered the world's first CXL 2013 2018 Memory eXpander Controller (MXC) chip The DDR4 fully buffered "1+9" Intel Capital and 2008 architecture invented by our Samsung Venture Sampled the first DDR5 Clock 2020 2024 Company was adopted by invested in us Driver (CKD) chip in the DDR2 Advanced 2004 JEDEC as the international industry Memory Buffer (AMB) Profitable for 10 Launched DDR5 Gen1 standard for LRDIMM chips were certified consecutive years since MRCD/MDB chips Montage 2011 Technology was founded 2025 2023 2019 2021 2006 2011 2014 Launched PCIe 6.x/CXL 3.x Retimer chip Achieved mass production for our PCIe 5.0/CXL 2.0 Sampled DDR5 Gen2 MRCD/MDB chips One of the first 25 Elected to the JEDEC Board Our chips first achieved mass Completed certification Won the GSA Retimer chips companies to have listed production for our DDR3 Register Award for Best launched the CXL 3.1 MXC chip Achieved mass production on the Shanghai Stock Awarded Forbes "2023 Top Buffer chip and Memory Financially Managed and delivery of DDR5 Obtained the first authorized Exchange STAR Market 50 Innovative Enterprises in Buffer chip Semiconductor Awarded Fortune "Top 50 Chinese Tech Companies" memory interface and invention patent China" Company module supporting chips Achieved profitability for the first timeStrong Subscription from International Investors The Company submitted the Completed the overseas listing filing Listed on the Main Board of the application to the Stock Exchange of with China Securities Regulatory Stock Exchange of Hong Kong and Highlighting the Company's Core Value Hong Kong for the offering and listing Commission and passed the listing commenced trading (stock code: 6809. of H shares hearing in the Stock Exchange of HK), the closing price on the first day of Our global offering of H shares received strong interest from international investors, fully Hong Kong listing was HK$175, up 63.72% from the reflecting the high recognition from the global capital market for the Group's development issue price, with a total market value of strategy and investment value. over HK$210 billion Cornerstone Investors Anchor Investors We introduced multiple top-tier We received more than 500 orders in the international long-term investors, international placement, with order sizes strategic investors and renowned exceeding US$30 billion, representing an technology-focused funds, with oversubscription multiple of over 60 times subscription by cornerstone investors the amount allocated to them.accounting for 50% of the base offering Company Philosophy Focus Innovation Acceleration Interconnect solutions enable more efficient and reliable data Storing massive data Processing massive Development Strategy Interconnect solutions enable more efficient and reliable data Storing massive data Processing massive architectural complexity Memory Computing Interconnectivity The Company's interconnect chip solutions, based on open industry standards, mainly consist of memory interconnect chips, PCIe/CXL interconnect chips, and clock chips, helping make data interconnection and interoperability more efficient and reliable. Clock chips Memory Interconnect Chip PCIe / CXL Interconnect Chip Interconnect Chip Product Line The Company's interconnect chip solutions, based on open industry standards, mainly consist of memory interconnect chips, PCIe/CXL interconnect chips, and clock chips, helping make data interconnection and interoperability more efficient and reliable. Clock chips Memory Interconnect Chip PCIe / CXL Interconnect Chip
In 2025, we actively seized the industry opportunity presented by the AI industry trend. By intensifying our R&D innovation and market expansion, we achieved a substantial growth in operational results by leveraging our core technological advantage, alongside continuous improvement in development quality. Multiple key financial metrics reached record highs. Revenue Net profit attributable to shareholders of the parent Gross margin (%) unit：RMB 100million unit：RMB 100million 54.46 62.2% 22.36 58.9% 58.1% 36.39 22.86 14.12 2025 YoY Growth (%) 2025 YoY Growth (%) Business Performance In 2025, we actively seized the industry opportunity presented by the AI industry trend. By intensifying our R&D innovation and market expansion, we achieved a substantial growth in operational results by leveraging our core technological advantage, alongside continuous improvement in development quality. Multiple key financial metrics reached record highs. Revenue Net profit attributable to shareholders of the parent Gross margin (%) unit：RMB 100million unit：RMB 100million 54.46 62.2% 22.36 58.9% 58.1% 36.39 22.86 14.12 2025 YoY Growth (%) 2025 YoY Growth (%) 4.51 % % 49.9 58.4 2023 2024 2025 2023 2024 2025 2023 2024 2025 Revenue of Interconnect Chips Net profit attributable to shareholders the parent after excluding the Gross margin of interconnect chips (%) impact of share-based payment expenses unit：RMB 100million unit：RMB 100million 65.6% 26.47 51.39 62.7% 61.4% 33.49 14.63 2025 YoY Growth (%) 2025 YoY Growth (%) 21.85 5.57 53.4% 81.0% Board Statement The Company has established a comprehensive, well-structured, and efficient ESG management mechanism. It clearly defines the roles and responsibilities of all levels, departments, and positions concerning ESG matters. Board Responsibilities The Board of Directors, as the highest decision-making body for ESG governance, Montage Technology's ESG Governance Structure is fully responsible for the supervision, guidance, and review of ESG-related matters, and ensures the effective implementation of the ESG strategy in the Company's daily operations. The Board of Directors is responsible for formulating and overseeing the ESG strategy and objectives, listening to reports Board of Directors sustainable development and ESG-related strategic plans and guiding the implementation of related work; paying attention to ESG-related risks and Decision- opportunities that have a significant impact on the Company's business and making putting forward corresponding recommendations; and reviewing the Company's annual ESG report. based on the nature of the Company's business, formulates corresponding strategies, objectives, and action plans, comprehensively advances the Company's ESG strategy, integrates it into the Company's daily operations, and Stakeholder Communication The Company attaches great importance to interaction and communication with stakeholders and has established an institutionalized, regular multi-channel communication mechanism. The Company adheres Stakeholder to the communication principles of integrity, equality, and transparency, proactively and regularly conducts systematic exchanges with all parties, fully listens to and identifies feedback from stakeholders, and conducts dynamic evaluations and optimization adjustments on the Company's sustainable development strategic planning and related practices, to ensure that the Company's ESG work always progresses in alignment with stakeholders' expectations and social development requirements.Montage Technology has institutionalized regular channels for ESG communication and feedback, ensuring timely and Stakeholders Issues of concern Channels of communication transparent two-way dialogue with its key stakeholders. Through this mechanism, the Company actively solicits and incorporates Innovation & R&D Business Performance Results Release Rating agency Rating Win-Win Cooperation Customer Visits A Industry Seminars Customer Service Innovation Management Supplier Assessment Supplier Training CSI ESG Rating AA The Company has systematically identified 23 key issues covering environmental, social and governance (ESG) dimensions based on the Based on systematic evaluation and prudent analysis, Montage Technology has identified two key issues of financial materiality: "Innovation Company's development strategy, capital market concerns and expectations, and industry-leading practices. The Company extensively Driven" and "Intellectual Property Protection". Based on the constructed dual materiality matrix, the Company scientifically prioritizes the collects feedback from core stakeholders such as shareholders, customers, and employees on the issues through various methods such as management of the issues. It integrates the analysis into its strategic planning and resource allocation processes, identifies key priorities for conducting ESG special questionnaires and organizing investors. Through in-depth analysis and comprehensive evaluation of the research advancement, and continuously enhances the Company's long-term competitiveness and overall performance. results, Montage Technology has finally constructed a double materiality issue matrix for the year 2025, providing a scientific basis for the prioritization and strategic focus of ESG work. Double Materiality Identification Process Montage Technology's Double Materiality MatrixImpact importance
Corporate Governance Structure Corporate Governance System FrameworkThe Company strictly complies with the Company Law of the People's Republic of China, the Securities Law of the People's Republic The Company has revised the Articles of Association of Montage Technology Co., Ltd. (the "Articles of Association") and related internal of China, the Code of Corporate Governance for Listed Companies and other relevant laws, regulations, and regulatory requirements. governance policies in accordance with the Company Law of the People's Republic of China (2023 Revision), the Transitional Arrangements for In conjunction with the listing rules applicable to H shares, the Company has further optimized its corporate governance structure and the Implementation of Supporting Rules under the New Company Law, the Guidelines for the Articles of Association of Listed Companies (2025 revised and formulated relevant internal systems. Revision), and other relevant laws, regulations, and normative documents.As of the date of disclosure of this Report, the Company's Board of Directors consists of 8 members, including During the Reporting Period, the Company formulated the Board Diversity Policy. The Nomination Committee of the Board considers a range Business EthicsBusiness Ethics If an employee believes that a violation of the Code of Business Upon receiving the report, the General Manager's Office shall promptly register it, record each case truthfully, and submit it to the Company's General Manager within five working days. The General Manager, in Conduct or other illegal or unethical business conduct has conjunction with relevant departments, shall promptly investigate and handle the matter, and inform the reporter of the investigation status or outcome within one month. If the case is complex and cannot be occurred or may occur, they should immediately report it to concluded within the mentioned time frame, the reporter shall be informed of the reasons. If the reporter has not provided their real name or valid contact information, resulting in the inability to communicate the their supervisor or the General Manager's Office. They can also investigation results, the Company will not provide separate feedback. During the relevant investigation, the General Manager's Office may, as needed, conduct the investigation through internal secondments or the make a report through channels such as hotline, email, or letter. hiring of external experts. Alternatively, they may entrust someone else to make the report on their behalf. The Company encourages employees to report using their real names to facilitate more efficient handling. The reporting channels are as follows: Handling Measures The Company will take corresponding disciplinary actions against violations of the Code of Business Conduct, which specifically include the following measures: verbal warning, written warning, dismissal, etc. When determining the specific disciplinary action, the Company will comprehensively consider the following factors: the nature and severity of the violation, whether the violation is a single incident or a recurring event, Postal Address: General Manager's Office, 16/ F, 181 Caobao Road, Montage The Company is committed to maintaining the confidentiality of reports made in good faith and will take necessary measures to protect whistleblowers' rights. The Company expressly prohibits any form of Circle, Xuhui District, Shanghai, discrimination, or retaliation against whistleblowers. Any individual who unlawfully discloses a whistleblower's identity or engages in retaliatory acts will be subject to strict disciplinary action in accordance with China Company policies, which may include termination of employment depending on the severity of the violation. The Company's whistleblower protection mechanism includes the following: In its commitment to fair competition and compliant business conduct, the Company strictly adheres to all applicable laws and regulations, including the Anti-Unfair Competition Law of the People's Republic of China and internal regulations such as the Code of Business Conduct. The Company explicitly prohibits commercial bribery, improper benefit transfers, and all other forms of unfair competition. Key measures During the Reporting Period Compliant Competition In its commitment to fair competition and compliant business conduct, the Company strictly adheres to all applicable laws and regulations, including the Anti-Unfair Competition Law of the People's Republic of China and internal regulations such as the Code of Business Conduct. The Company explicitly prohibits commercial bribery, improper benefit transfers, and all other forms of unfair competition. Key measures During the Reporting Period Investor Relations Disclosure of More than The Company also addresses investor concerns by receiving online and offline investor research visits, Cash Dividends participating in brokerage strategy meetings, and responding to inquiries on the SSE e-Interaction 15 2,247 platform. transcripts of investor relations activities participating organizations The proposed 2025 profit The 2025 interim profit distribution To enhance the effectiveness of value communication, the Company has significantly improved the 4 distribution plan (completed) readability and communication impact of its reports through the use of long-form visual content. includes expected cash dividends of has distributed cash dividends of Honors RMB million RMB million 472 227 Share Repurchase Outstanding Practices in the 2024 Top 5 Most Institution-Favored Outstanding Practices in the 2024 Securities Times 15th Received an A-level (Outstanding) rating in the information Governance The Company has established a well-structured R&D governance structure with clear lines of responsibility. Through its integrated, three-stage innovation and R&D system—covering technology pipeline, research and development, and mass production—the Company efficiently advances the development of new technologies and products. R&D Governance Structure  |