Core Viewpoint - The article emphasizes the critical importance of domestic semiconductor equipment manufacturing in China, particularly in the thin film deposition sector, as a response to U.S. export restrictions and the need for technological independence [2][40]. Group 1: Industry Overview - The thin film deposition equipment market in China reached approximately 47.9 billion yuan in 2023, with a domestic production rate of less than 25%, indicating significant potential for domestic substitution [6][41]. - The semiconductor manufacturing process requires a growing number of thin film layers, with the number of deposition steps increasing from about 40 for 90nm processes to over 100 for 3nm processes [3][63]. - The global semiconductor capital expenditure (Capex) is expected to enter a new growth phase, driven by advanced products and increasing production capacity [48]. Group 2: Technological Developments - The transition from 2D to 3D chip structures has fundamentally changed the technology focus and market structure for thin film deposition equipment [9]. - ALD (Atomic Layer Deposition) technology is becoming essential for advanced nodes and 3D structures due to its atomic-level thickness control and 100% step coverage [19][20]. - PECVD (Plasma-Enhanced Chemical Vapor Deposition) holds the largest market share (33%) among thin film deposition technologies, particularly suited for 28nm and below nodes [13][41]. Group 3: Domestic Manufacturers - Key domestic manufacturers in the thin film deposition equipment sector include North Huachuang, Tuo Jing Technology, and Micro Company, each focusing on different aspects of the market [7][41]. - Domestic manufacturers are adopting a multi-dimensional strategy to break through the monopolistic barriers set by international giants, focusing on specialized equipment like HDPCVD and SACVD [25][70]. Group 4: Investment Insights - Investment focus should be on companies that can achieve a closed loop in specific advanced process windows rather than merely replacing single machines [28]. - Companies with dual capabilities in PEALD and Thermal ALD, particularly those that have validated their technology in specific applications, are expected to hold the highest value [29]. - The importance of core components and subsystems, such as plasma sources and vacuum systems, is highlighted as critical for the success of semiconductor equipment [34][36]. Group 5: Conclusion - The U.S. technology blockade has catalyzed a more resilient and innovative semiconductor equipment industry in China, moving from mere substitution to defining next-generation processes [38]. - The journey of domestic equipment manufacturers reflects a broader trend of understanding and meeting the specific needs of Chinese manufacturing, paving the way for long-term value discovery in the semiconductor sector [38].

Group 1 - The company participated in the public offering of shares by Changjiang Energy Technology Co., Ltd. and the subscription of shares by Zijin Gold International Limited [1][2] - The offering price for Changjiang Energy was set at 5.33 CNY per share, determined by the issuer and the lead underwriter based on various factors [2] - The offering price for Zijin Gold International was set at 71.59 HKD per share, also determined through negotiations between the issuer and the overall coordinator [2] Group 2 - The company disclosed that its managed funds participated in the non-public offering of shares by Shengmei Semiconductor Equipment (Shanghai) Co., Ltd. [3] - The announcement regarding the participation in Shengmei's non-public offering includes details about the net asset value and book value of the funds as of September 25, 2025 [3]

证券代码：688082 证券简称：盛美上海 公告编号：2025-067 盛美半导体设备（上海）股份有限公司 关于开设募集资金专项账户 并签订募集资金监管协议的公告 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、准确性和完整性依法承担法律责任。 一、募集资金基本情况 根据中国证券监督管理委员会于 2025 年 6 月 25 日出具的《关于同意盛美半 导体设备（上海）股份有限公司向特定对象发行股票注册的批复》（证监许可 [2025]1338 号），同意盛美半导体设备（上海）股份有限公司（以下简称"公司" 或"盛美上海"）向特定对象发行 A 股股票的注册申请。公司 2024 年度向特定 对象发行 A 股股票 38,601,326 股，发行价格为 116.11 元/股，募集资金总额为人 民币 4,481,999,961.86 元，扣除各项发行费用人民币 46,984,264.81 元（不含增值 税），募集资金净额为人民币 4,435,015,697.05 元。上述募集资金到位情况已经立 信会计师事务所（特殊普通合伙）审验，并于 2025 年 9 月 19 日出具 ...

Core Viewpoint - Shengmei Semiconductor Equipment (Shanghai) Co., Ltd. has shown a significant increase in stock price, reflecting positive market sentiment and potential growth in the semiconductor equipment sector [1] Company Overview - Shengmei Semiconductor Equipment was established on May 17, 2005, and went public on November 18, 2021. The company is located in the China (Shanghai) Free Trade Zone and specializes in the research, development, production, and sales of semiconductor equipment. The revenue composition is 99.72% from product sales and 0.28% from services [1] Stock Performance - On September 26, Shengmei Shanghai's stock rose by 5.26%, reaching a price of 192.99 CNY per share, with a trading volume of 472 million CNY and a turnover rate of 0.57%. The total market capitalization stands at 85.165 billion CNY [1] Shareholder Insights - Among the top ten circulating shareholders, the Huaxia Fund holds a position in Shengmei Shanghai. The Huaxia SSE STAR 50 ETF (588000) reduced its holdings by 59,500 shares in Q2, now holding 4.8937 million shares, which is 1.12% of the circulating shares. The estimated floating profit today is approximately 47.175 million CNY [2] Fund Performance - The Huaxia SSE STAR 50 ETF (588000) has a total asset size of 83.343 billion CNY and has achieved a year-to-date return of 48.41%, ranking 842 out of 4220 in its category. Over the past year, the return is 121.18%, ranking 209 out of 3824 [2] Fund Manager Profiles - The fund manager for the Huaxia SSE STAR 50 ETF is Rong Ying, who has been in the position for 9 years and 328 days, managing assets totaling 138.288 billion CNY, with the best return during his tenure being 129.49% [3] - Zhao Zongting, another fund manager, has been in the role for 8 years and 165 days, overseeing assets of 389.148 billion CNY, with a best return of 120.09% during his tenure [3] Top Holdings - The Huaxia SSE STAR Semiconductor Materials and Equipment Theme ETF (588170) holds 88,400 shares of Shengmei Shanghai, representing 4% of the fund's net value, ranking it as the tenth largest holding. The estimated floating profit today is around 852,300 CNY [4] Additional Fund Information - The Huaxia SSE STAR Semiconductor Materials and Equipment Theme ETF (588170) was established on March 24, 2025, with a current size of 252 million CNY and a return of 47.46% since inception [4]

截至6月30日，盛美上海股东户数1.17万，较上期减少7.31%；人均流通股37360股，较上期增加7.89%。 2025年1月-6月，盛美上海实现营业收入32.65亿元，同比增长35.83%；归母净利润6.96亿元，同比增长 56.99%。 分红方面，盛美上海A股上市后累计派现7.23亿元。 机构持仓方面，截止2025年6月30日，盛美上海十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股603.63万股，相比上期减少48.25万股。华夏上证科创板50成份ETF（588000）位居第三大 流通股东，持股489.37万股，相比上期减少5.95万股。易方达上证科创板50ETF（588080）位居第五大 流通股东，持股365.24万股，相比上期增加12.21万股。诺安成长混合A（320007）位居第六大流通股 东，持股322.27万股，相比上期减少91.41万股。东方人工智能主题混合A（005844）位居第七大流通股 东，持股274.22万股，相比上期减少87.42万股。嘉实上证科创板芯片ETF（588200）位居第八大流通股 东，持股209.70万股，相比上期增加20.18万股。南方信息创新混合A（ ...

Core Viewpoint - The semiconductor equipment sector has experienced a significant surge, driven by AI demand, making it a standout performer in the A-share market, although a recent pullback raises questions about future performance [1][5]. Group 1: Recent Performance - From September 10 to September 24, the semiconductor equipment index surged over 33%, ranking first among 276 sub-industries [2]. - On September 22 to 24, the index saw a cumulative increase of 16.85%, with several ETFs reaching daily limits [1][2]. - As of September 25, the semiconductor equipment index had risen 31.81% in the past half month and 51.57% over three months, with a year-to-date increase of 58.73% [5]. Group 2: Driving Factors - Key factors for the recent performance include the establishment of Changcun Phase III, which is expected to enhance domestic semiconductor equipment production capacity [2]. - Rising prices of memory chips are anticipated to drive global production expansion [2]. - The recent display of lithography machines at the Industrial Expo has positively influenced market sentiment [2]. Group 3: Market Sentiment and Future Outlook - The semiconductor equipment sector is viewed as a critical area for institutional investment in Q4, with current valuations still considered relatively low [4]. - Analysts believe the recent pullback is a rational correction after a rapid increase, rather than a trend reversal [6][4]. - The long-term growth trajectory of the semiconductor equipment sector remains clear, supported by increasing domestic production rates and capital expenditure expansion [6][5]. Group 4: Investment Opportunities - There is a focus on high-performance testing machines, advanced packaging equipment, and etching equipment as areas of potential growth [7][8]. - The demand for testing equipment related to AI chips and advanced storage technologies is expected to rise significantly [8]. - Companies with core technologies in the semiconductor equipment sector are recommended for investment, particularly those involved in technological breakthroughs and downstream expansion [8][7].

国泰海通证券股份有限公司 关于盛美半导体设备（上海）股份有限公司 调整2025年度部分日常关联交易预计的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为盛 美半导体设备（上海）股份有限公司（以下简称"盛美上海"、"公司"或"发行 人"）首次公开发行股票并在科创板上市的持续督导保荐机构，根据《证券发行 上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》《上海证券交易 所科创板上市公司自律监管指引第1号——规范运作》等有关规定，对公司调整 2025年度部分日常关联交易预计的事项进行了核查，具体情况如下： 一、日常关联交易基本情况 （一）调整部分日常关联交易预计履行的审议程序 1、董事会审议情况 公司于2025年9月24日召开第二届董事会第二十三次会议，以6票同意、0票 反对、0票弃权的表决结果通过了《关于调整2025年度部分日常关联交易预计的 议案》。董事会上，关联董事HUI WANG、王坚对该议案回避表决，其余非关联 董事对该议案一致同意。 2、独立董事专门会议的审查意见 公司于2025年9月24日召开第二届董事会独立董事专门会议第三次会议，审 议通过了上述议案，并形成以下意见 ...

证券代码：688082 证券简称：盛美上海 公告编号：2025-066 盛美半导体设备（上海）股份有限公司 关于调整 2025 年度部分日常关联交易预计的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次调整部分日常关联交易预计事项无须提交公司股东会审议。 公司本次调整与部分关联方发生的日常关联交易预计事项是正常生产经 营所必需，是基于公司业务发展及生产经营的需要做出的调整，符合公司实际经 营情况。公司与关联方发生的日常关联交易遵循公允、合理的原则，不存在损害 公司及全体股东特别是中小股东利益的行为，不会对关联方形成依赖，不会影响 公司独立性。 一、日常关联交易基本情况 4、本次调整部分日常关联交易预计事项在董事会权限范围内，无需提交股 东会审议。 | | | | | | | | 本年年初至 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 本次调整前 | | 本次调整后 | 本次调整后 | 2025 年 6 月 ...

一、董事会会议召开情况 2025 年 9 月 24 日，盛美半导体设备（上海）股份有限公司（以下简称"公 司"）第二届董事会第二十三次会议在中国（上海）自由贸易试验区丹桂路 999 弄 B2 栋会议室举行，本次会议应出席董事 8 名，实际出席会议的董事 8 名。全 体董事认可本次会议的通知时间、议案内容等事项。本次会议的召集和召开程序 符合《中华人民共和国公司法》《中华人民共和国证券法》等法律法规及《盛美 半导体设备（上海）股份有限公司章程》和《盛美半导体设备（上海）股份有限 公司董事会议事规则》的相关规定，合法有效。 证券代码：688082 证券简称：盛美上海 公告编号：2025-065 盛美半导体设备（上海）股份有限公司 第二届董事会第二十三次会议决议公告 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、准确性和完整性依法承担法律责任。 详见同日在上海证券交易所（http://www.sse.com.cn）披露的《关于调整 2025 年度部分日常关联交易预计的公告》（公告编号：2025-066）。 会议由董事长 HUI WANG 先生主持。 （二）审议 ...

每经AI快讯，盛美上海9月25日晚间发布公告称，公司第二届第二十三次董事会会议于2025年9月24日 在中国（上海）自由贸易试验区丹桂路999弄B2栋会议室召开。会议审议了《关于调整2025年度部分日 常关联交易预计的议案》等文件。 每经头条（nbdtoutiao）——"9·24"一周年，A股总市值破116万亿元！四大变革重塑中国资本市场新生 态 （记者 王晓波） ...