Core Viewpoint - Shenghui System Integration Group Co., Ltd. reported a steady growth in its order backlog, indicating a positive business development trend as of September 30, 2025 [2] Group 1: Order Backlog Details - As of September 30, 2025, the company's order backlog reached 2.214 billion yuan (excluding tax), representing a year-on-year increase of 21.21% [2] - The IC semiconductor industry is the primary source of orders, with a backlog of 1.633 billion yuan (excluding tax); the precision manufacturing industry has a backlog of 464 million yuan (excluding tax); and the optoelectronics and other industries have a backlog of 117 million yuan (excluding tax) [2] - The fluctuation in the order amounts for the IC semiconductor and optoelectronics industries is attributed to internal classification adjustments, specifically a transfer of 675 million yuan from the optoelectronics and other industries to the IC semiconductor industry [2] Group 2: Future Disclosure and Order Execution - The company will continue to disclose order backlog data either separately or in regular reports to provide reference for investors [3] - The disclosed data is based on internal statistics and is unaudited, meaning it cannot be directly used to infer revenue or net profit figures; the order data may vary monthly due to statistical criteria and tax factors [3] - Due to differing delivery cycles among business types, it is expected that not all orders will be recognized as revenue within the year, and execution may be affected by various uncontrollable factors, leading to uncertainty in the impact on current and future performance [3]

Key Recommendations - The report highlights the social services industry, particularly focusing on the chain restaurant sector, recommending leading brands that offer good value for money in the dining and tea beverage segments [7] - The construction industry report emphasizes the necessity of cleanroom engineering as a critical component of AI infrastructure, with global demand for construction rapidly increasing [11] Industry and Company Insights - In the restaurant sector, the report notes that in September 2025, the stock prices of major restaurant brands faced pressure, with notable increases for brands like Xiaobai Xiaobai (+33%) and Yum Brands (+4%) [7] - The mid-year financial summary indicates that the tracked chain restaurant leaders saw a 29% increase in net profit attributable to shareholders in the first half of 2025, with a 16% revenue growth, outperforming the overall retail dining market growth of 4% [7] - The cleanroom engineering market is driven by the need for controlled environments in precision product manufacturing, with investments in cleanroom engineering typically accounting for 10-20% of total project costs [11] - The global cleanroom market is expected to grow due to increasing demands for semiconductor manufacturing and data center construction, particularly in North America, which is identified as a market with significant potential [11] Market Dynamics - The report indicates that in September 2025, the domestic restaurant revenue showed a slight year-on-year increase of 1%, recovering from previous months' declines [7] - The cleanroom engineering demand is expected to rise as companies like TSMC ramp up investments in the U.S., with TSMC planning an additional $100 billion investment, indicating a robust growth trajectory for the cleanroom sector [11] Investment Recommendations - The report suggests focusing on leading companies in the cleanroom engineering space, such as Shenghui Integration and Yaxiang Integration, which are expected to benefit from the global semiconductor supply chain restructuring [12] - In the restaurant sector, it recommends investing in brands like Xiaobai Xiaobai, Gu Ming, and Mi Xue Group, which are positioned to capitalize on the recovery and growth in the dining market [9]

Core Insights - Cleanroom and facility engineering are essential components for the expansion of the AI computing power supply chain [2] - The global cleanroom market is experiencing continuous growth due to increasing environmental requirements as industrial product process dimensions shrink [2][4] Industry Overview - Supply chain security and AI computing power are the two main drivers for global chip production expansion [3] - The expansion of mature process chips is driven by risk aversion, particularly influenced by the decoupling between China and the U.S., leading to increased domestic production in China [3] - Advanced process chip expansion is driven by AI computing power demand, with TSMC controlling 90% of global advanced process capacity [3] Market Potential - North America is identified as the market with the greatest potential for cleanroom engineering demand [4] - TSMC's significant investment in the U.S. is expected to accelerate capacity construction, with a total planned investment of $165 billion, including an additional $100 billion announced in March 2025 [4] - The rapid increase in investment intensity has led to saturation among primary suppliers involved in factory construction, creating a likely overflow of orders [4] Company Recommendations - Shenghui Integrated is recommended due to its extensive overseas market experience and strong order growth, with a 70% increase in new orders and a 39% rise in revenue in the first half of 2025 [5][6] - Yaxiang Integrated is also recommended, benefiting from the restructuring of the global semiconductor supply chain, with significant overseas project wins, although there are concerns about the sustainability of overseas orders [5][6]

证券日报网讯 10月15日晚间，圣晖集成发布公告称，因圣晖系统集成集团股份有限公司（以下简称"公 司"）所在行业发展稳定，公司业务稳步增长，截至2025年9月30日，公司在手订单余额为22.14亿元 （未含税），比上年同期增长21.21%。其中，IC半导体行业在手订单余额为16.33亿元（未含税），精 密制造行业在手订单余额为4.64亿元（未含税），光电及其他行业在手订单余额为1.17亿元（未含 税）。 （文章来源：证券日报） ...

Group 1 - High Energy Environment reported a net profit of 646 million yuan for the first three quarters, a year-on-year increase of 15.18% [1] - Tianzhun Technology received approval from the China Securities Regulatory Commission for issuing convertible bonds to unspecified objects [1] - Energy Conservation Wind Power achieved a cumulative power generation of 9.349 billion kWh, a year-on-year increase of 1.72% [1][2] Group 2 - Sichuan Road and Bridge's total amount of projects won in the first three quarters reached 97.173 billion yuan, a year-on-year increase of 25.16% [3] - Shaanxi Energy's power generation in the third quarter decreased by 1% year-on-year, while its coal sales increased by 136.98% [3][4] Group 3 - Jintuo Co. announced that four shareholders plan to reduce their holdings by up to 2.95% of the company's shares [5] - Tailin Microelectronics expects a net profit increase of 118% year-on-year for the first three quarters, with revenue of approximately 766 million yuan [6] - Asia-Pacific Co. anticipates a net profit of 310 million to 335 million yuan for the first three quarters, a year-on-year increase of 97.38% to 113.30% [8] Group 4 - He Sheng New Materials expects a net profit increase of 60% to 80% for the first three quarters, with a projected profit of 137 million to 154 million yuan [9] - Spring Airlines reported a passenger turnover of 4.835 billion person-kilometers in September, a year-on-year increase of 22.87% [10][11] Group 5 - Mingxin Xuteng received a notification from a leading new energy vehicle company for a project worth approximately 650 million yuan [12] - Acolyte's subsidiary received a government subsidy of 47.13 million yuan for fixed asset investment [13] Group 6 - Fangsheng Pharmaceutical's subsidiary received approval for clinical trials of a new drug for treating advanced prostate cancer [14] - Aofu Technology plans to sell idle factory assets for a total price of 23.852 million yuan [16] Group 7 - Ganyue Expressway reported a service income of 313 million yuan in September [18] - Dong'an Power secured five new market agreements in the third quarter, with a total projected sales volume of approximately 1 million units [20] Group 8 - Zhongmin Energy achieved a cumulative power generation of 1.922 billion kWh, a year-on-year increase of 1.25% [21] - Pan-Asia Micro-Pore's application for issuing shares to specific objects has been accepted by the Shanghai Stock Exchange [23] Group 9 - Shenghui Integration reported an order balance of 2.214 billion yuan as of September 30, a year-on-year increase of 21.21% [24] - Jineng Technology's vice president resigned for personal reasons [25] Group 10 - Ruixin Microelectronics expects a net profit increase of 116% to 127% for the first three quarters, with a projected profit of 760 million to 800 million yuan [33] - Shanghai Pharmaceuticals received FDA approval for a new drug application for doxycycline capsules [34] Group 11 - Ruima Precision's subsidiary received a project notification for air suspension systems from a domestic automaker, with a total sales forecast of approximately 265 million yuan [36] - Galaxy Magnetics anticipates some impact on its export business due to the Ministry of Commerce's announcement on export controls for certain rare earth items [37] Group 12 - Ba Tian Co. expects a net profit increase of 230.79% to 260.15% for the first three quarters, with a projected profit of 676 million to 736 million yuan [43] - Donglai Technology plans to reduce its repurchased shares by up to 1% of the total share capital [45] Group 13 - Guangkang Biochemical announced that shareholders plan to reduce their holdings by up to 2.68% of the company's shares [46] - Nanwang Energy reported a net profit increase of 37.13% for the first three quarters, with a total revenue of 5.32 billion yuan [48] Group 14 - Yahua Group expects a net profit increase of 106.97% to 132.84% for the first three quarters, with a projected profit of 320 million to 360 million yuan [49] - Hualitai's annual production project for 20,000 tons of benzidine has been successfully completed and is now in full production [51]

Investment Rating - The report maintains an "Outperform" rating for the cleanroom engineering industry [1] Core Insights - Cleanroom engineering is a critical component in the AI infrastructure, with global construction demand rapidly increasing [2] - The global cleanroom market is expected to grow significantly, driven by the increasing precision requirements in industrial products and the expansion of semiconductor manufacturing [51][56] - The cleanroom engineering market is projected to reach $10.04 billion by 2025 and $14.16 billion by 2030, with a CAGR of 7.1% [56] Summary by Sections Cleanroom Engineering Overview - Cleanrooms provide controlled environments necessary for the production of precision products, including semiconductor manufacturing and data center construction [2] - Cleanroom and facility engineering typically accounts for 10-20% of total investment in semiconductor production [47] Global Chip Expansion and Cleanroom Demand - The expansion of global chip production is driven by two main factors: supply chain security and AI computing power [3] - The North American market is identified as having the highest potential for cleanroom demand, particularly due to significant investments from companies like TSMC [4] Investment Recommendations - The report recommends focusing on companies like Shenghui Integration and Yaxiang Integration, which are positioned to benefit from the ongoing expansion in the semiconductor supply chain [5] Market Dynamics - The cleanroom market is characterized by high competition barriers, with strong ties between engineering service providers and their clients [6] - The electronic industry accounts for over 54% of cleanroom demand, highlighting the sector's critical need for controlled environments [14][16] Future Trends - The report emphasizes the trend towards increasing precision in industrial products, which will continue to drive the growth of the cleanroom market [56] - The construction of cleanrooms is becoming more complex, requiring advanced engineering services to meet stringent environmental control standards [59]

证券代码：603163 证券简称：圣晖集成 公告编号：2025-050 圣晖系统集成集团股份有限公司 关于在手订单情况的自愿性披露公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、截至2025年9月30日的在手订单余额情况 因圣晖系统集成集团股份有限公司（以下简称"公司"）所在行业发展稳定， 公司业务稳步增长，截至 2025 年 9 月 30 日，公司在手订单余额为 22.14 亿元（未 含税），比上年同期增长 21.21%。其中，IC 半导体行业在手订单余额为 16.33 亿元（未含税），精密制造行业在手订单余额为 4.64 亿元（未含税），光电及 其他行业在手订单余额为 1.17 亿元（未含税）。 注：本期末 IC 半导体、光电及其他行业分类金额波动较大，系因内部分类 调整，从光电及其他行业调出 6.75 亿元至 IC 半导体行业。 二、相关说明及风险提示 1、公司未来将单独或在定期报告中披露在手订单情况以供广大投资者参考； 2、上述在手订单数据源自公司内部统计，未经审计，不能以此直接推算公 司营业收入、净利润等财 ...

【圣晖集成：截至2025年9月30日 公司在手订单余额为22.14亿元】智通财经10月15日电，圣晖集成 (603163.SH)公告称，截至2025年9月30日，公司在手订单余额为22.14亿元（未含税），同比增长 21.21%。其中，IC半导体行业在手订单余额为16.33亿元（未含税），精密制造行业在手订单余额为 4.64亿元（未含税），光电及其他行业在手订单余额为1.17亿元（未含税）。公司未来将单独或在定期 报告中披露在手订单情况。注意投资风险。 转自：智通财经 ...

Core Viewpoint - Shenghui Integrated (603163.SH) reported steady business growth, with a total order backlog of 2.214 billion yuan (excluding tax) as of September 30, 2025, representing a year-on-year increase of 21.21% [1] Group 1: Order Backlog - The total order backlog is 2.214 billion yuan (excluding tax), up 21.21% from the same period last year [1] - The order backlog in the IC semiconductor sector is 1.633 billion yuan (excluding tax) [1] - The order backlog in the precision manufacturing sector is 464 million yuan (excluding tax) [1] - The order backlog in the optoelectronics and other sectors is 117 million yuan (excluding tax) [1]

Core Viewpoint - Shenghui Integrated (603163) reported a significant increase in its order backlog as of September 30, with a total of 2.214 billion yuan (excluding tax), representing a year-on-year growth of 21.21% [1] Summary by Category - **Total Order Backlog** - The company's total order backlog reached 2.214 billion yuan (excluding tax), marking a 21.21% increase compared to the same period last year [1] - **IC Semiconductor Sector** - The order backlog in the IC semiconductor sector amounted to 1.633 billion yuan (excluding tax) [1] - **Precision Manufacturing Sector** - The order backlog in the precision manufacturing sector was 464 million yuan (excluding tax) [1] - **Optoelectronics and Other Industries** - The order backlog in the optoelectronics and other industries stood at 117 million yuan (excluding tax) [1]