光伏概念盘初走强，云南锗业、泰嘉股份双双涨停，风光股份涨超18%，凯德石英、鼎际得、东岳硅 材、鑫磊股份等跟涨。 ...

Core Viewpoint - Jiangfeng Electronics is expected to achieve steady growth in performance by 2025 and plans to acquire a controlling stake in Kaide Quartz to enhance its core competitiveness in the semiconductor components business [1] Group 1: Company Overview - After the completion of the transaction, Jiangfeng Electronics will become the controlling shareholder of Kaide Quartz, gaining control over the company [1] - Beijing Kaide Quartz Co., Ltd. specializes in the research, production, and sales of quartz glass products, including quartz instruments, quartz pipelines, and quartz boats [1] Group 2: Industry Position - Kaide Quartz's products are widely used as production consumables in the semiconductor integrated circuit chip field, photovoltaic solar industry, and other sectors [1] - Kaide Quartz is one of the few domestic companies capable of processing quartz glass products for 8 and 12-inch semiconductor integrated circuit chip production lines [1] Group 3: Business Strategy - Jiangfeng Electronics aims to enhance its core competitiveness in the semiconductor components business by integrating leading domestic quartz glass processing resources [1] - The company is a leader in semiconductor target materials, and the acquisition of Kaide Quartz's controlling stake will improve its layout in quartz components [1] Group 4: Financial Projections - The expected earnings per share (EPS) for Jiangfeng Electronics from 2025 to 2027 are projected to be 1.92 yuan, 2.75 yuan, and 3.55 yuan respectively [1]

Core Viewpoint - Jiangfeng Electronics is expected to achieve steady growth in performance by 2025 and plans to acquire a controlling stake in Kaide Quartz to enhance its core competitiveness in the semiconductor components business [1] Group 1: Company Overview - Jiangfeng Electronics will become the controlling shareholder of Kaide Quartz after the completion of the transaction, gaining control over the company [1] - Beijing Kaide Quartz Co., Ltd. specializes in the research, production, and sales of quartz glass products, including quartz instruments, pipes, and boats [1] Group 2: Industry Application - Kaide Quartz's products are widely used as production consumables in the semiconductor integrated circuit chip field, photovoltaic solar industry, and other sectors [1] - Kaide Quartz is one of the few companies in China capable of processing quartz glass products for 8 and 12-inch semiconductor integrated circuit chip production lines [1] Group 3: Market Position and Performance - Kaide Quartz has been engaged in the export processing of quartz glass products for 4, 6, 8, and 12-inch semiconductor chip production lines for many years, with products primarily sold to Germany, the United States, and Taiwan [1] - The company offers over a hundred types of products, with processing technology and product quality reaching a high level in the industry [1] Group 4: Financial Projections - Jiangfeng Electronics is expected to see earnings per share (EPS) of 1.92 yuan, 2.75 yuan, and 3.55 yuan for the years 2025, 2026, and 2027, respectively [1] - The company maintains a "recommended" rating following the acquisition of Kaide Quartz's controlling stake, which will enhance its layout in the quartz component sector [1]

(凯德石英)：预期差最大的半导体石英零部件公司 国内市场空间约100亿元，2030年将高速增长至200亿元 半导体石英件市场由capex和opex两部分构成，其中capex部分约占刻蚀、 沉积、扩散、清洗等设备的BOM成本的 5%，opex则随着设备存量数量增加市场需求不断增长，按照2-6月的更换寿命计算市场空间将大于capex。 两者累计市场空间百亿以上。 国产化率仅10%以内，公司规模、大客户验证进度绝对领先 当前半导体石英件国产化率不足10%，凯德石英收入处于第一梯队。 公司已成功导入国内头部设备公司（收入占比约40%），在国内头部逻辑晶圆代工厂已经验证通过12寸产品将于 2026年放量，同步在导入国内头部存储厂、海外晶圆代工龙头台积电等。 产能持续扩张，业绩即将迎来高速释放期 公司现有三大生产基地，过去2-3年资本开支累计投入4-5亿元，目前已有的三大基地累计产值8-10亿元，均已进入 爬产阶段，满产之后将贡献较大利润弹性，目前公司的大客户北京通美等需求非常旺盛(axt股价已经10倍)，产值 有望在1-2年内打满。 预计26年利润0.8-1亿、27-28年冲击2.5-3亿元利润，估值性价比极高 公司股 ...

Core Viewpoint - The rising prices of NAND flash memory, driven by major suppliers like Samsung, SK Hynix, and Micron, are creating significant opportunities for companies like Jiangfeng Electronics, which is strategically acquiring stakes in key players like Kaide Quartz to enhance its market position and product offerings [1][4]. Group 1: Market Dynamics - In Q1 2026, Samsung Electronics raised NAND flash memory prices by over 100% [1]. - Major storage manufacturers are tightening pricing control through shorter contract terms and "post-settlement" clauses, which require customers to pay additional fees if market prices rise after delivery [1]. - Jiangfeng Electronics is positioned within the supply chains of SK Hynix, TSMC, and SMIC, indicating its strategic importance in the semiconductor industry [1]. Group 2: Jiangfeng Electronics' Strategic Moves - Jiangfeng Electronics announced plans to acquire a 20.64% stake in Kaide Quartz for 591 million yuan, aiming to gain control over the company [1][2]. - The company reported a 48.08% year-on-year increase in long-term equity investments, reaching 437 million yuan, with investment income hitting a historical high of 68 million yuan, a staggering increase of 157.15 times [2][4]. - Jiangfeng's revenue forecast for 2025 is between 4.31 billion and 5.11 billion yuan, reflecting a year-on-year growth of 7.5% to 27.5% [2]. Group 3: Business Growth and Product Synergy - Jiangfeng's core business focuses on ultra-pure metal sputtering targets, essential for manufacturing storage chips, contributing over 64% of its revenue [6][4]. - The company has achieved a stable supply of high-purity 300mm silicon targets, with a year-on-year profit increase of 36.11% and a gross margin improvement of approximately 3 percentage points to 33.26% [7]. - Jiangfeng's order backlog for ultra-pure target materials reached 1.387 billion yuan, accounting for 59.45% of the expected revenue for 2024 [9]. Group 4: Acquisition Rationale and Future Prospects - The acquisition of Kaide Quartz is seen as a strategic move to enhance Jiangfeng's capabilities in semiconductor precision components, which are critical in semiconductor manufacturing [9][12]. - Kaide Quartz's products are highly aligned with Jiangfeng's business, as they focus on quartz products used in semiconductor integrated circuits, with 95.15% of Kaide's revenue coming from this sector [12][14]. - The timing of the acquisition coincides with Kaide Quartz's capacity expansion, which will reduce Jiangfeng's capital investment post-acquisition [14][16]. Group 5: Future Investment Plans - Jiangfeng Electronics plans to raise 1.928 billion yuan through a private placement, with approximately 1 billion yuan allocated for semiconductor component projects [19][20]. - The company aims to capitalize on the high-profit potential of static suction cups, which currently have a low domestic production rate of less than 10% [20][21]. - Jiangfeng has already secured over 50 million yuan in orders for its independently developed static suction cups, indicating strong market demand [21].

Group 1 - The core viewpoint of the news is the acquisition of Kaide Quartz by Jiangfeng Electronics and Ningbo Yongjin, which aims to enhance industry chain synergy and complement their business operations [1] - Jiangfeng Electronics is a leading enterprise in the field of high-purity metal sputtering targets in China, providing comprehensive solutions for advanced processes, mature processes, and specialty processes [1] - Kaide Quartz is a key supplier of quartz products in China, focusing on the research, production, and sales of quartz glass products used in the semiconductor and photovoltaic industries [1] Group 2 - The company is expected to benefit from its technological advantages and advanced manufacturing capabilities, leading to a steady increase in revenue and performance, with projected revenue of approximately 4.6 billion yuan in 2025, a year-on-year growth of about 28% [2] - The company anticipates achieving a net profit attributable to shareholders of 431 to 511 million yuan in 2025, representing a year-on-year growth of approximately 7.5% to 27.5% [2] - The company is actively expanding its product line in the semiconductor precision components sector to meet customer demands and enhance overall competitiveness [2] Group 3 - The investment recommendation suggests adjusting the company's profit forecast, with expected revenues of 4.61 billion, 5.78 billion, and 7.38 billion yuan for 2025 to 2027, with growth rates of 27.9%, 25.3%, and 27.8% respectively [3] - The net profit attributable to shareholders is projected to be 503 million, 679 million, and 915 million yuan for the same period, with growth rates of 25.6%, 34.9%, and 34.9% respectively [3] - The acquisition of Kaide Quartz is expected to strengthen the synergy within the industry chain, maintaining a "buy" rating for the company [3]

Group 1 - The core point of the article is that Kaide Quartz (920179) has seen significant trading activity on February 9, 2026, with a turnover rate of 23.85% and a transaction volume of 14.24 million shares, amounting to 816 million yuan [1][2][3] Group 2 - The top buying seat was from Dongfang Securities Co., Ltd. Shenzhen Jintian Road Securities Business Department, purchasing approximately 68.02 million yuan worth of shares [1][2] - The top selling seat was from Wanlian Securities Co., Ltd. Beijing Xisanhuan Securities Business Department, selling approximately 32.76 million yuan worth of shares [1][2] - Other notable buying and selling activities included purchases from Guosen Securities and institutional investors, with significant amounts also being sold by various securities firms [2]

Core Viewpoint - Jiangfeng Electronics (300666.SZ) and Kaide Quartz (920179.BJ) resumed trading, with Jiangfeng opening up 0.09% and Kaide down 2.73%, but both later strengthened. Jiangfeng announced a plan to acquire control of Kaide Quartz through a cash transaction of approximately RMB 590.70 million [1][2]. Group 1: Acquisition Details - Jiangfeng Electronics and its wholly-owned subsidiary, Ningbo Jiangfeng Boxin Technology Co., Ltd., plan to acquire 15,475,627 shares of Kaide Quartz, representing 20.6424% of its equity, at a price of RMB 38.17 per share [2][3]. - The transaction involves multiple shareholders, including Zhang Zhongshu and Wang Yumin, who will collectively transfer their shares to Jiangfeng and its subsidiary [3][4]. - After the transaction, Jiangfeng will become the controlling shareholder of Kaide Quartz and will nominate a majority of the board members [4]. Group 2: Financial Performance of Kaide Quartz - Kaide Quartz reported net profits of RMB 54 million, RMB 38 million, and RMB 32 million for the years 2022, 2023, and 2024, respectively, with a decline of 24.57% in the first three quarters of 2025 compared to the same period in 2024 [6][7]. - The company's revenue for 2024 was RMB 306.30 million, a 17.95% increase from RMB 259.69 million in 2023, while the gross profit margin decreased to 41.67% from 48.08% in 2022 [7][6]. - Jiangfeng Electronics expects its net profit for 2025 to be between RMB 430.60 million and RMB 510.70 million, indicating a growth of 7.50% to 27.50% [8].

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index up by 0.11%, the Shenzhen Component Index up by 0.65%, and the ChiNext Index also up by 0.65% as of midday [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.38 trillion yuan, a decrease of 63.3 billion yuan compared to the previous trading day, with over 3,800 stocks rising [2] Sector Performance - Active sectors included lithium batteries, energy metals, humanoid robots, and fintech, while traditional sectors like liquor, retail, and AI application stocks weakened [1] - The Chinese medicine and chemical sectors showed notable gains, with the Chinese medicine sector rising by 2.52% [2][7] - The small metals sector rebounded, with stocks like Xianglu Tungsten and Zhangyuan Tungsten hitting the daily limit [7] Notable Stocks - Mingdiao Co. experienced significant trading activity, achieving a "limit-up" with nearly 700 million yuan in transactions and marking its fifth consecutive trading day of gains [3] - Jiangfeng Electronics saw a slight increase of 0.09% after announcing plans to acquire control of Kaide Quartz [9] Economic Indicators - The industrial development plan for traditional Chinese medicine aims for a collaborative development system by 2030, which may positively impact the sector [7]

新京报贝壳财经讯 2月5日，江丰电子发布公告，公司及全资子公司江丰博鑫与凯德石英的实际控制人 签署了《关于北京凯德石英股份有限公司之股份转让协议》，约定以4.48亿元收购凯德石英15.6424%股 份。同时，宁波甬金以1.43亿元收购凯德石英5.0000%股份。本次交易完成后，江丰电子将成为凯德石 英的控股股东。公司股票将于2026年2月6日开市起复牌。 ...