（编辑 袁冠琳） 证券日报网1月7日讯 ，先导基电在接受调研者提问时表示，截至2025年上半年，子公司凯世通现有存 量客户已突破12家，离子注入机产品已通过国内多家12英寸主流晶圆厂客户的验证验收，产品覆盖低能 大束流离子注入机、超低温离子注入机、高能离子注入机等多款机型。其中，应用于CIS器件掺杂的低 能大束流离子注入机实现首台设备验收，并稳步推进批量应用；高能离子注入机产业化进展良好，持续 拓展新客户。此外，公司正加快开发高能离子注入设备、氢离子注入设备、中束流离子注入设备等全谱 系差异化竞争设备。公司不仅持续获得现有核心客户的重复订单，也成功赢得多家新客户的认可，实现 了更多细分领域工艺应用，市场份额稳步提升。未来，凯世通将全力为客户提供性能卓越、高生产效率 的全周期一站式离子注入设备与解决方案，进一步拓展客户基础，增强市场覆盖能力。 ...

证券日报网1月7日讯 ，先导基电在接受调研者提问时表示，先导科技集团基于从材料、零部件到系统 解决方案的垂直一体化技术，在零部件领域，为凯世通定向开发了静电吸盘、MFC、微波电源、高压 电源等核心零部件，提升了零部件的国产化替代率。在材料领域，集团提供了掺杂气体、电子特气等高 纯材料，保障离子注入工艺的精确性。在工艺安全检测方面，集团也提供了如面向离子注入机的温度检 测等工艺支持。未来，凯世通将在控股股东的支持下，构建原材料、零部件、设备、服务、回收等全链 条服务，提供全周期、一站式的解决方案。 （编辑 袁冠琳） ...

证券日报网1月7日讯 ，先导基电在接受调研者提问时表示，从全球供需格局来看，铋材料的供给端整 体偏紧；相比之下，需求端持续向好，近年来在电子半导体、新能源、核工业等新兴应用领域的用量正 在不断增长。公司长期看好铋材料的发展前景，行业内也普遍预计铋材料的价格在中长期仍具备稳步上 涨的空间。据上海有色网（SMM）数据显示，精铋价格在本年度12月份再度上涨，维持在12万—13万 元/吨的价格区间。公司通过灵活动态的库存策略、积极稳定扩产带来的规模效应、高潜力下游客户的 挖掘覆盖，以及上游供应链的稳定性建设，将多维度协同提升铋业务的整体盈利水平。从现有产能和销 售情况来看，公司全年产能及销量规模在铋材料市场处于领先地位。 （编辑 袁冠琳） ...

证券日报网1月7日讯 ，先导基电在接受调研者提问时表示，目前铋材料业务是公司的核心收入来源。 未来，公司将通过铋材料业务产生的收入、利润和现金流来哺育驱动半导体业务的发展。规划在未来3 至5年内，逐步提升半导体材料、零部件与设备业务的收入贡献，长期目标是围绕半导体材料、零部件 及设备打造完整的半导体业务平台。 （编辑 袁冠琳） ...

今年，公司已成功拓展新增产业的新领域应用方向，截至2025年上半年，公司在铋业务领域合作的国内 外客户已超过250 家。未来，公司将依托下游核心领域的稳健需求增长及新兴市场领域的新增发展机 遇，深化铋材料及高端电子材料的产能建设与客户导入，实现业务的持续增长。 格隆汇1月7日丨先导基电(600641.SH)近日接受现场参观及电话会议时表示，铋材料下游应用领域广 泛，涵盖电子/半导体、医药化工、冶金合金、新能源、核工业等多个领域。以全资子公司安徽万导为 业务平台，公司已形成多元化产品矩阵，产品应用于半导体压敏电阻、光通信 TEC 制冷片、新能源、 化工、医药等领域。 ...

证券研究报告 AI驱动新成长，自主可控大时代 ——2026年半导体设备行业策略报告 行业评级：看好 2026年1月4日 | 分析师 | 邱世梁 | 王华君 | 王一帆 | | --- | --- | --- | --- | | 邮箱 | qiushiliang@stocke.com.cn | wanghuajun@stocke.com.cn | wangyifan01@stocke.com.cn | | 证书编号 | S1230520050001 | S1230520080005 | S1230523120007 | 半导体设备：AI驱动新成长，自主可控大时代 ◼ 2025行业复盘：跑赢大盘，持续增长 2025年至今，半导体设备指数显著跑赢大盘，当前估值处于28%分位点。 2025年前道设备营收持续高增长，利润增速结构性放缓；后道设备迎来爆发式增长，净利率显著提升，行业呈现高景气态势。 ◼ 2026行业展望：半导体行业景气度高，先进逻辑存储扩产共振 半导体行业景气度高：AI驱动下，2025年全球半导体市场创历史新高，预计2026年将继续增长9%至7607亿美元。 中国半导体设备市场：国内晶圆厂产能利用率回升扩 ...

Global Semiconductor Market Analysis - The global semiconductor market is projected to reach $659.1 billion in 2024, representing a year-on-year growth of 20.0%, and is expected to grow to $789.3 billion by 2025 [2][14] - Integrated circuits will account for the largest share at 73.9%, while artificial intelligence chips will see the fastest growth at 49.3% [2][14] - In 2023, the top ten companies in the global semiconductor market are primarily from the US, Taiwan, and South Korea, with no mainland Chinese companies in the top ranks [2][16] China Semiconductor Market Analysis - China's semiconductor market is expected to reach $176.9 billion in 2024, with a year-on-year growth of 15.9%, and is projected to reach $206.7 billion by 2025 [2][16] - Integrated circuits will dominate the Chinese market, accounting for $139.3 billion, or 78.7% of the total market, with artificial intelligence chips growing at 48.3% [2][16] Historical Development of the Semiconductor Industry - The global semiconductor industry has evolved through four major phases: the rise of personal computers and the internet (1986-1999), network communications and consumer electronics (2000-2010), the smartphone and 3G/4G/5G era (2010-2020), and the current AI technology and data center phase (2023-present) [3][21][24] Semiconductor Industry Chain Overview - The semiconductor industry chain consists of upstream (EDA/IP, semiconductor equipment, semiconductor materials), midstream (semiconductor design, wafer manufacturing, and packaging/testing), and downstream (packaging and testing) segments [6][62] - Upstream EDA/IP is dominated by companies like Synopsys and Cadence, while semiconductor equipment is led by ASML for EUV lithography, with high industry concentration [6][62] Future Development Directions in the Semiconductor Industry - Key future development areas in the semiconductor industry include third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory [8][10] Investment Recommendations - The domestic semiconductor industry is expected to make breakthroughs in upstream core equipment, materials, and software, driven by national policies and international dynamics [9] - Investment opportunities are particularly promising in third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth storage [9][10]

Investment Rating - The report rates the semiconductor industry as "Outperform" compared to the market [1] Core Insights - The global semiconductor market is projected to reach USD 659.1 billion in 2024, with a year-on-year growth of 20.0%, and is expected to grow to USD 789.3 billion in 2025 [2][13] - Integrated circuits will account for the largest share of the market at 73.9% in 2024, while artificial intelligence chips are anticipated to grow the fastest at 49.3% [2][13] - The report identifies four key future development directions for the semiconductor industry: third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory [2] Summary by Sections 1. Semiconductor Market Analysis - The global semiconductor market is expected to grow significantly, with integrated circuits leading the market share [13][15] - The Chinese semiconductor market is projected to reach USD 1,769 billion in 2024, with a year-on-year growth of 15.9% [15][17] 2. Historical Development of the Semiconductor Industry - The semiconductor industry has evolved through four major phases, driven by technological advancements and market demands [20][22] - The current phase is characterized by AI technology and data centers driving growth [22][23] 3. Semiconductor Industry Chain - The semiconductor industry chain consists of upstream (EDA/IP, semiconductor equipment, materials), midstream (design, wafer manufacturing, packaging), and downstream (packaging and testing) segments [64][73] - The report highlights the importance of domestic companies in advancing technology and achieving breakthroughs in core areas [2][64] 4. Future Development Directions - The report emphasizes the potential of third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory as key growth areas [2][4]

12月26日，先导基电盘中上涨2.01%，截至09:53，报17.73元/股，成交9825.01万元，换手率0.60%，总 市值165.00亿元。 分红方面，先导基电A股上市后累计派现25.46亿元。近三年，累计派现2.12亿元。 资金流向方面，主力资金净流出240.76万元，特大单买入167.82万元，占比1.71%，卖出243.64万元，占 比2.48%；大单买入1492.32万元，占比15.19%，卖出1657.28万元，占比16.87%。 机构持仓方面，截止2025年9月30日，先导基电十大流通股东中，南方信息创新混合A（007490）位居 第四大流通股东，持股1400.39万股，相比上期减少46.31万股。香港中央结算有限公司位居第五大流通 股东，持股1014.02万股，相比上期减少32.28万股。南方中证房地产ETF发起联接A（004642）位居第六 大流通股东，持股797.80万股，相比上期减少32.12万股。国泰中证半导体材料设备主题ETF（159516） 位居第八大流通股东，持股641.21万股，为新进股东。南方中证1000ETF（512100）位居第九大流通股 东，持股593.92万股，相 ...

Group 1 - Moer Thread plans to use up to 7.5 billion yuan of idle raised funds for cash management, with a usage period of 12 months [1] - O-film plans to purchase 8.46% equity of its subsidiary Anhui Che Lian for a total of 3.64 billion yuan, increasing its ownership from 78.54% to 87% [2] - ST Lian Shi applies to revoke the delisting risk warning as its restructuring plan has been completed [3] Group 2 - Weirli signs a strategic cooperation framework agreement with Primech Holdings to build an industrial robot cooperation platform [4] - Race Intelligent plans to raise no more than 1.144 billion yuan through a private placement for core components of intelligent equipment [5] - Renfu Pharmaceutical's stock will be subject to other risk warnings and will be suspended for one day starting December 15 [6] Group 3 - Yongding Co. clarifies that its subsidiary Dongbu Superconductor does not directly manufacture controllable nuclear fusion devices [7] - Rongbai Technology plans to acquire part of Guizhou Xinren's equity and increase its capital to achieve control [9] - ST Hu Ke is under investigation by the Securities Regulatory Commission for suspected information disclosure violations [10] Group 4 - Yunnan Ge Industry plans to establish a subsidiary focused on organic germanium-related products [11] - Greenme intends to acquire 16.38% equity of Henan Recycling Group for 400 million yuan [12] - Jiangzhong Pharmaceutical plans to change its name to China Resources Jiangzhong Pharmaceutical [13] Group 5 - Jiangsu Guoxin's subsidiary Ma Zhou Power has completed the trial operation of a 1,000 MW coal-fired power generation unit [16] - Longsheng Technology plans to invest in a center for embodied intelligent robots [18] - Guangzhou Development has received approval for the registration of 8 billion yuan medium-term notes and 6 billion yuan short-term financing notes [19] Group 6 - China Merchants Port reported a container throughput of 17.248 million TEUs in November, a year-on-year increase of 6.4% [20] - Tianma Technology reported a total eel output of approximately 11,415.87 tons from January to November [21] Group 7 - Xilong Science plans to reduce its stake by up to 1% [22] - Xicet Testing's actual controller plans to transfer 5% of the company's shares [23] - Oppein Home's actual controller plans to increase its stake by 50 million to 100 million yuan [24] Group 8 - Maide Medical plans to repurchase shares worth 20 million to 40 million yuan [25] - Baicheng Pharmaceutical's major shareholder increased its stake by 0.85% [26] - Mengbaihe's major shareholder plans to reduce its stake by up to 1% [27] Group 9 - Xian Dao Ji Dian's shareholder has reduced its stake by 1.70% [28] - Yaxiang Integration's shareholder reduced its stake by 41,400 shares [29] - Zhiwei Intelligent's actual controller has reduced its stake, bringing the total holding to 69% [30] Group 10 - Jincheng Co.'s actual controller plans to reduce its stake by up to 0.97% [31] - Jianghua Micro's chairman has reduced his stake by 1.09% [32] - COSCO Shipping Energy signed a shipbuilding contract worth 7.882 billion yuan [33] Group 11 - Dayu Water Saving's subsidiary is expected to win two high-standard farmland construction projects [34] - Guorui Technology's subsidiary is a candidate for the GXLF project [36] - ST Zhisheng has won a smart city governance project worth 104 million yuan [37]