证券日报网讯 12月15日，长电科技在互动平台回答投资者提问时表示，股价波动受多重因素影响。公 司注重投资者回报，持续优化利润分配方案，增加分红频次，通过稳定的现金分红回馈股东。公司目前 处于加速向先进封装转型的阶段，固定资本开支力度和研发投入强度均大幅超过封测行业主要公司。初 期这些投入转化为业绩需要一定的时间，相信未来几年随着先进产品地大量导入，盈利能力会得到逐步 的释放。 （文章来源：证券日报） ...

Core Viewpoint - The chip ETF Tianhong (159310) opened with a decline of 1.08%, indicating a negative market sentiment towards the semiconductor sector [1] Group 1: ETF Performance - The Tianhong chip ETF (159310) opened at 2.018 yuan, reflecting a decrease of 1.08% [1] - Since its establishment on April 18, 2024, the fund has achieved a return of 104.32%, with a monthly return of 0.75% [1] Group 2: Major Holdings Performance - Major holdings within the Tianhong chip ETF include: - SMIC (中芯国际) down 1.41% - Cambrian (寒武纪) down 2.08% - Haiguang Information (海光信息) down 1.05% - Northern Huachuang (北方华创) up 1.25% - Lanke Technology (澜起科技) down 2.02% - Zhaoyi Innovation (兆易创新) down 2.32% - Zhongwei Company (中微公司) up 0.16% - OmniVision (豪威集团) down 0.85% - Chipone (芯原股份) down 5.06% - Changdian Technology (长电科技) down 0.92% [1]

Core Viewpoint - The advanced packaging industry is experiencing high expectations for the future development potential of Fan-out wafer-level packaging (FOWLP) and Fan-out panel-level packaging (FOPLP) technologies, driven by large-scale orders from TSMC's InFO series and CoWoS-R products [2] Group 1: Market Trends and Projections - The global demand for high-end Fan-out (FO) products is limited, with high-value orders primarily secured by leading international companies [2] - By 2025, the domestic Fan-out packaging market in China is projected to exceed $100 million, with a year-on-year growth of 29%, and FOWLP expected to account for 73% of this market [4] - The demand for wafer-level Fan-out packaging is currently less than 10,000 pieces per month (equivalent to 300mm), which is a strategic focus for most packaging manufacturers [4] Group 2: Competitive Landscape - Domestic advanced packaging companies in China possess strong technical competitiveness, but the demand for high-value FO orders remains limited, leading to a rapid increase in the number of players in the market [2] - Longji Technology is expected to hold a dominant market share in the FOWLP sector in mainland China, ranking fourth globally [4] Group 3: Future Development and Strategies - The industry needs to explore larger-scale and broader application areas for FO wafer products, such as discrete devices, power chips/modules, and audio/RF/radar modules, which have lower requirements for wafer reconstruction packaging [2] - The FOPLP technology is anticipated to become the preferred solution in low-value application scenarios as its maturity and production line utilization improve [4] - The FOWLP technology is expected to maintain a high growth rate of over 30% penetration in the next five years, as domestic manufacturers expand their product applications and accumulate process cases [4]

Core Viewpoint - Changdian Technology has received approval for a total of 4.8 billion yuan in medium-term notes, marking a significant step in its debt financing strategy [1][2]. Group 1: Financing Details - The registered amount of 4.8 billion yuan for the medium-term notes is valid for two years from the date of the notice [3][5]. - Eight banks, including Bank of Communications and China Merchants Bank, will act as joint lead underwriters for the issuance [3][5]. - The company can issue the medium-term notes in phases based on its funding needs and market conditions, allowing for better management of financing schedules [3][5]. Group 2: Company Overview - Changdian Technology is a provider of integrated circuit manufacturing and technical services, offering one-stop solutions for chip manufacturing [3][5]. - The company's business includes integrated circuit packaging and testing, serving various domestic and international integrated circuit design companies and manufacturers [3][5]. - In the first three quarters of the year, the company reported a net profit attributable to shareholders of 954 million yuan, a year-on-year decrease of 11.39% [3][5]. Group 3: Strategic Implications - Registering medium-term notes in the interbank market will help the company flexibly match its medium to long-term funding needs, supporting future technology upgrades, production line investments, and global customer service capabilities [3][5]. - In the context of accelerating domestic production and supply chain layout in the integrated circuit industry, optimizing the debt structure will enhance the company's risk resistance and operational stability [3][5].

（编辑 丛可心 王雪儿） 证券日报网讯 12月11日，长电科技在互动平台回答投资者提问时表示，股价波动受多重因素影响。公 司注重投资者回报，持续优化利润分配方案，增加分红频次，通过稳定的现金分红回馈股东。 ...

Core Viewpoint - Longi Technology has received approval for a total of 4.8 billion yuan in medium-term notes, marking a significant step in its debt financing strategy [1][3] Group 1: Financing and Debt Structure - The company has been granted a registration quota of 4.8 billion yuan for medium-term notes, valid for two years from the date of the notice [3] - Eight banks, including Bank of Communications and China Merchants Bank, will act as joint lead underwriters for the issuance [3] - This financing approach is expected to broaden the company's financing channels, optimize its debt structure, and enhance the flexibility of its capital management [3] Group 2: Business Overview and Financial Performance - Longi Technology is a provider of integrated circuit manufacturing and technology services, offering one-stop chip manufacturing solutions [3] - The company reported a net profit attributable to shareholders of 954 million yuan for the first three quarters of the year, reflecting a year-on-year decline of 11.39% [3] - The registration of medium-term notes is anticipated to support the company's funding needs for technology upgrades, production line investments, and enhancing global customer service capabilities [3] Group 3: Industry Context - The move to optimize the debt structure aligns with the broader trend of accelerating domestic production and supply chain layout in the integrated circuit industry [3] - Improving the debt structure is also seen as a way to enhance the company's risk resistance and operational stability [3]

Core Viewpoint - The company, Changdian Technology (600584.SH), has reported a significant growth in its packaging and testing services for storage chips, driven by a recovery in market demand and strategic investments in technology and resources [1] Group 1: Business Performance - The company's packaging and testing services cover various storage chip products, including DRAM and Flash [1] - The storage-related packaging and testing business has seen continuous growth this year, with production capacity utilization rates gradually increasing to full capacity [1] - Revenue from the computing electronics business, which includes storage, has increased by nearly 70% year-on-year in the first three quarters, accounting for over 20% of total revenue [1]

Core Viewpoint - The Chip Leader ETF (516640) opened with a slight increase of 0.48%, priced at 1.054 yuan, indicating a stable market performance for chip-related investments [1] Group 1: ETF Performance - The Chip Leader ETF (516640) has a performance benchmark based on the CSI Chip Industry Index return [1] - Since its establishment on August 19, 2021, the ETF has achieved a return of 4.90% [1] - Over the past month, the ETF has experienced a return of -1.83% [1] Group 2: Major Holdings Performance - Among the major holdings, SMIC opened with a gain of 0.19% [1] - Cambrian fell by 0.77%, while Haiguang Information saw a minimal increase of 0.01% [1] - Northern Huachuang increased by 0.22%, and Lanke Technology rose by 2.75% [1] - Zhaoyi Innovation gained 1.46%, while Zhongwei Company decreased by 0.08% [1] - OmniVision Technologies increased by 0.23%, and Chipone Technology rose by 0.18% [1] - Changdian Technology experienced a decline of 0.08% [1]

Core Viewpoint - The semiconductor ETF (159813) opened with a slight increase of 0.45%, indicating a stable market performance for semiconductor stocks [1] Group 1: ETF Performance - The semiconductor ETF (159813) opened at 1.105 yuan [1] - The ETF's performance benchmark is the National Securities Semiconductor Chip Index return rate [1] - Since its establishment on April 17, 2020, the ETF has achieved a return of 65.12%, while its return over the past month has been -2.33% [1] Group 2: Major Holdings Performance - Key stocks within the semiconductor ETF include: - Cambrian (寒武纪) down 0.77% - SMIC (中芯国际) up 0.19% - Haiguang Information (海光信息) up 0.01% - Northern Huachuang (北方华创) up 0.22% - Lattice Semiconductor (澜起科技) up 2.75% - GigaDevice (兆易创新) up 1.46% - Zhongwei Company (中微公司) down 0.08% - OmniVision (豪威集团) up 0.23% - Changdian Technology (长电科技) down 0.08% - Unisoc (紫光国微) up 0.22% [1]

Core Viewpoint - The Chip 50 ETF (516920) opened with a slight increase of 0.10%, indicating a stable market performance for the semiconductor sector [1] Group 1: ETF Performance - The Chip 50 ETF (516920) opened at 1.021 yuan, reflecting a modest gain [1] - Since its establishment on July 27, 2021, the fund has achieved a return of 2.15% [1] - The fund's performance over the past month has seen a decline of 1.83% [1] Group 2: Major Holdings Performance - Among the major holdings, SMIC opened with a gain of 0.19% [1] - Cambrian fell by 0.77%, while Haiguang Information saw a slight increase of 0.01% [1] - Northern Huachuang rose by 0.22%, and Lanke Technology increased by 2.75% [1] - Zhaoyi Innovation gained 1.46%, while Zhongwei Company decreased by 0.08% [1] - OmniVision Technologies rose by 0.23%, and Chipone Technology increased by 0.18% [1] - Changdian Technology experienced a decline of 0.08% [1]