【拓荆科技：董监高计划合计减持不超0.0522%公司股份】《科创板日报》27日讯，拓荆科技 (688072.SH)公告称，公司股东CHANGHSIAO-YUNG（张孝勇）、董事兼总经理刘静、副总经理陈新 益等7位董监高计划自公告披露之日起15个交易日后的3个月内，通过集中竞价方式合计减持不超过 14.63万股，占公司总股本的0.0522%。 转自：智通财经 ...

拓荆科技公告，股东CHANG HSIAO-YUNG（张孝勇）、董事总经理刘静、副总经理陈新益、宁建 平、牛新平、许龙旭、赵曦及财务负责人杨小强拟于2025年9月18日至2025年12月17日通过集中竞价分 别减持不超过60000股、30000股、10202股、9583股、8000股、9856股、16000股、2885股，合计不超 14.65万股，占公司总股本不超1%。 ...

Investment Rating - The report maintains a "Recommended" investment rating for the company [1][11]. Core Views - The company achieved a revenue of 1.954 billion yuan in the first half of 2025, representing a year-on-year growth of 54.25%, while the net profit attributable to shareholders decreased by 26.96% to 94.288 million yuan [2][6]. - In Q2 2025, the company reported a revenue of 1.245 billion yuan, a year-on-year increase of 56.64%, and a net profit of 241 million yuan, which is a significant year-on-year growth of 103.37% [2][6]. - The improvement in Q2 gross margin to 38.82% reflects a recovery in profitability, following a lower margin of 19.89% in Q1 due to high costs associated with new product validation [6][7]. - The company is successfully optimizing its customer structure and increasing market penetration, with contract liabilities reaching 4.536 billion yuan, up 52.07% from the end of 2024, indicating a solid order backlog [6][7]. Financial Summary - Revenue projections for 2025-2027 are 5.590 billion yuan, 7.050 billion yuan, and 8.868 billion yuan, respectively, with year-on-year growth rates of 36.2%, 26.1%, and 25.8% [5][9]. - Net profit estimates for the same period are 958 million yuan, 1.357 billion yuan, and 1.824 billion yuan, with corresponding growth rates of 39.2%, 41.7%, and 34.5% [5][9]. - The company's gross margin is expected to improve from 44.0% in 2025 to 47.1% by 2027, while the net margin is projected to increase from 17.1% to 20.6% over the same period [5][9]. - The report highlights a strong competitive position in the semiconductor equipment sector, with a focus on advanced deposition and bonding equipment, indicating significant growth potential [7][9].

8月27日，拓荆科技盘中上涨2.00%，截至09:42，报195.54元/股，成交2.64亿元，换手率0.49%，总市值 546.98亿元。 资金流向方面，主力资金净流出638.76万元，特大单买入2712.37万元，占比10.28%，卖出2507.54万 元，占比9.50%；大单买入6749.19万元，占比25.57%，卖出7592.78万元，占比28.77%。 拓荆科技今年以来股价涨27.47%，近5个交易日涨12.44%，近20日涨11.94%，近60日涨37.87%。 资料显示，拓荆科技股份有限公司位于辽宁省沈阳市浑南区水家900号，成立日期2010年4月28日，上市 日期2022年4月20日，公司主营业务涉及高端半导体专用设备的研发、生产、销售和技术服务。主营业 务收入构成为：半导体专用设备96.47%，其他(补充)3.53%。 拓荆科技所属申万行业为：电子-半导体-半导体设备。所属概念板块包括：半导体设备、中芯国际概 念、大基金概念、大盘、百元股等。 截至6月30日，拓荆科技股东户数1.41万，较上期减少4.69%；人均流通股19794股，较上期增加 89.04%。2025年1月-6月，拓荆科技实 ...

Core Viewpoint - The article highlights the significant revenue growth and profitability turnaround of Tuojing Technology in the first half of 2025, driven by advancements in their manufacturing processes and strong order backlog [2][4]. Group 1: Financial Performance - In H1 2025, the company's revenue reached 1.954 billion yuan, a year-on-year increase of 54.3%, while the net profit attributable to shareholders was 94.3 million yuan, down 27% year-on-year [2]. - In Q2 2025, revenue was 1.25 billion yuan, reflecting a year-on-year growth of 56.6% and a quarter-on-quarter increase of 75.7%. The gross margin was 38.8%, down 8.1 percentage points year-on-year but up 19 percentage points quarter-on-quarter [2]. - The net profit attributable to shareholders in Q2 2025 was 240 million yuan, a year-on-year increase of 103.4% and a quarter-on-quarter increase of 390 million yuan. The non-recurring net profit was 218 million yuan, up 240% year-on-year and an increase of 400 million yuan quarter-on-quarter [2]. Group 2: Product Development and Market Position - The company has successfully shipped multiple PECVD (Plasma-Enhanced Chemical Vapor Deposition) devices for advanced storage production lines, achieving comprehensive coverage of various hard mask processes [3]. - The PE-ALD (Plasma-Enhanced Atomic Layer Deposition) equipment has seen rapid growth, with multiple units passing customer validation, indicating full coverage of dielectric film materials [3]. - The company has received repeat orders for its wafer-to-wafer hybrid bonding equipment, and the new generation of high-speed, high-precision bonding products has been shipped for client validation [3]. Group 3: Investment Outlook - The company is expected to maintain high revenue growth in 2025, with a strong order backlog and continuous improvement in process coverage [4]. - The investment rating is maintained at "Accumulate," reflecting confidence in the company's future performance based on its current trajectory and market position [4].

新品验证顺利放量，Q2 盈利能力大幅回升 半导体 | | | 执业证书编号：S0740521120002 Email：wangfang02@zts.com.cn 执业证书编号：S0740521120001 Email：yangxu01@zts.com.cn 联系人：冯光亮 相关报告 1 、《【 中 泰 电 子 】 拓 荆 科 技 动业绩爆发》2024-09-10 拓荆科技（688072.SH） 证券研究报告/公司点评报告 2025 年 08 月 26 日 Email：fenggl@zts.com.cn | 总股本(百万股) | 279.73 | | --- | --- | | 流通股本(百万股) | 279.73 | | 市价(元) | 182.86 | | 市值(百万元) | 51,151.27 | | 流通市值(百万元) | 51,151.27 | | 评级： | 买入（维持） | 公司盈利预测及估值 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 指标 | 2023A | 2024A | 2025E | 2026E ...

今日（8.26），科创板多数回调，科创50指数ETF（588870）收跌2.4%，全天成交额超1.1亿元！大行情下，资金青睐20CM科创 宽基，科创50指数ETF（588870）昨日获资金净流入超1.4亿元，同类领先！ 科创50指数ETF（588870）标的指数成分股涨跌互现：权重股芯原股份跌超9%，海光信息跌超6%，寒武纪跌超4%，中芯国际跌 超2%。上涨方面，盛美上海涨超10%，拓荆科技、恒玄科技涨超4%。 | 序号 | 代码 | 名称 | 涨跌幅 | 估算权重 | | --- | --- | --- | --- | --- | | 1 | 688256 | 寒武纪-U | -4.04% | 14.07% | | 2 | 688041 | 海光信息 | -6.13% | 10.14% | | 3 | 688981 | 中芯国际 | -2.17% | 9.43% | | ব | 688008 | 澜起科技 | 1.59% | 5.96% | | 5 | 688521 | 芯原股份 | -9.33% | 2.81% | | 6 | 688012 | 中微公司 | 1.42% | 4.82% | | 7 | 6 ...

以下文章来源于湾芯展 ，作者湾芯展 湾芯展 . 湾芯展由中国国际工程咨询有限公司指导，深圳市半导体与集成电路产业联盟（深芯盟SICA）主办，依托深重投主导的重大产业项目集群等优质资源，聚 焦半导体晶圆制造装备、零部件、材料、先进封装、IC设计、第三代半导体等重点领域。 2025年10月15—17日 ， 第二届湾区半导体产业生态博览会（湾芯展2025） 将在 深圳会展中心（福田） 盛大举办。本届展会持续放大交流展示、"双招双引"、商 贸交易等平台功能作用，在首届基础上进一步打破地域边界，以更宽的全球视野整合产业资源，以更大的开放格局链接国际合作，成为连接全球半导体产业协同 发展的重要纽带。 更宽视野： 国际龙头集群式亮相，零距离接触全球前沿科技 作为展会国际化升级的核心标志，湾芯展2025的国际展商阵容实现跨越式增长。来自欧美、日韩、东南亚等20余个国家和地区的半导体领军企业集体亮 相，包括 荷兰阿斯麦、美国应用材料、泛林、科磊，日本东京电子、尼康、佳能、科意、日立、迪恩士，德国蔡司，英国爱德华，匈牙利瑟米莱伯，韩国 周星等 全球TOP30企业，带来覆盖芯片设计、晶圆制造、封装测试全链条的前沿技术，在多个关键领 ...

Market Overview - The main funds in the Shanghai and Shenzhen markets experienced a net outflow of 68.855 billion yuan, with the Sci-Tech Innovation Board seeing a net outflow of 5.398 billion yuan [1] - A total of 249 stocks saw net inflows, while 337 stocks experienced net outflows [1] Sci-Tech Innovation Board Performance - On the Sci-Tech Innovation Board, 229 stocks rose, with two stocks, Kaipu Cloud and Electric Wind Power, hitting the daily limit, while 352 stocks declined [1] - Among the stocks with net inflows, 8 stocks had inflows exceeding 100 million yuan, with Zhongwei Company leading at 242 million yuan [1] Continuous Fund Flow - There are 58 stocks that have seen continuous net inflows for more than three trading days, with Sanyou Medical leading at 9 consecutive days of inflow [1] - Conversely, 116 stocks have experienced continuous net outflows, with Dongxin Shares and Haimeixing both seeing 11 consecutive days of outflow [1] Top Net Inflows - The top stocks by net inflow include Zhongwei Company (242.20 million yuan), Tuojing Technology (184.78 million yuan), and Dingtong Technology (157.29 million yuan) [1][2] - Other notable stocks with significant inflows include Daqian Energy (151.01 million yuan) and Haitian Ruisheng (150.97 million yuan) [1][2] Top Net Outflows - The stock with the highest net outflow is SMIC, which saw a net outflow of 610 million yuan and a decline of 2.17% [1] - Other stocks with significant outflows include Haiguang Information (555 million yuan) and Yuntian Leifeng (330 million yuan) [1] Fund Flow Rates - The fund inflow rates for the top stocks range from 0.63% to 31.99%, with Kaipu Cloud having the highest rate at 31.99% [2][3] - The turnover rates for these stocks vary, with some stocks like Yitang Technology reaching as high as 27.32% [1][2]

Market Overview - The trading volume of the Shanghai and Shenzhen stock markets exceeded 2 trillion yuan for the 10th consecutive trading day, with a total volume of 2.71 trillion yuan on August 26, down by 462.1 billion yuan from the previous trading day [1][2] - The A-share market has seen significant trading days above 2 trillion yuan, with 18 days in 2024 and 12 days so far in 2025 [2] Index Performance - The Shanghai Composite Index closed at 3868.38, down by 15.18 points (-0.39%) [2] - The Shenzhen Component Index rose by 32.11 points (+0.26%) to 12473.17 [2] - The ChiNext Index fell by 20.86 points (-0.76%) to 2742.13 [2] Sector Performance - Consumer electronics showed strong performance, with stocks like Silan Microelectronics and Huasheng Tiancheng hitting the daily limit [3] - The low-altitude economy sector saw a surge, with Wan Feng Ao Wei briefly hitting the daily limit following a significant purchase order worth 3 billion yuan for eVTOL aircraft [5] Economic Insights - The high trading volume is attributed to a combination of policy support and market dynamics, with increased capital inflow from both domestic savings and foreign investments [8] - Recent macroeconomic conditions, including lower interest rates and a shift in savings towards capital markets, have enhanced the attractiveness of A-shares [8] - The market's upward trend is supported by a favorable policy environment and improved investor sentiment, indicating a potential bull market [10]