Core Viewpoint - The company Qingyi Optoelectronics has commenced production at its Foshan Nanhai production base, focusing on high-precision flat panel display mask plates and high-end semiconductor mask plates, addressing the growing demand in the 5G and AI era for high-definition and flexible displays [1] Group 1 - The production ceremony for the Foshan Nanhai production base was held on November 14, 2025, marking the start of mass production for high-precision flat panel display mask plates [1] - The high-precision flat panel display mask plate facility primarily produces mask plates for 8.6 generation and below, filling the domestic gap in AMOLED high-precision mask plates [1] - The high-end semiconductor mask plate facility is focused on producing mask plates for semiconductor processes ranging from 180nm to 28nm [1] Group 2 - The commencement of production at the Foshan Nanhai base will significantly expand the company's production capacity [1]

Group 1 - The company's current revenue from semiconductor mask plates accounts for approximately 20% of its total revenue [1] - The production facility in Nanhai, Foshan, officially commenced operations in November 2025, which is expected to gradually contribute new revenue to the company [1]

Core Viewpoint - The article highlights the significant dependency of China's high-end manufacturing on Japan for critical strategic new materials, particularly in the semiconductor and advanced manufacturing sectors, emphasizing the risks posed by geopolitical tensions and supply chain vulnerabilities [2][4]. Group 1: Dependency on Japanese Core New Materials - Japan holds a monopolistic position in semiconductor materials, high-end polymers, and electronic chemicals, with China's dependency exceeding 50% in several key categories, and nearly 100% in some high-end areas [4][6]. - The complexity of semiconductor manufacturing processes means that Japan dominates the supply of critical materials like photoresists and silicon wafers, with global market shares consistently above 60% [6][9]. Group 2: Semiconductor Core Materials - **Photoresists**: China has an overall import dependency of about 90%, with high-end photoresists being 100% reliant on Japan. Major suppliers include JSR, Tokyo Ohka, Shin-Etsu Chemical, and Fujifilm, which control 92% of the high-end market [7]. - **12-inch Silicon Wafers**: The import dependency is around 90%, with Japan supplying 58%. Key players like Shin-Etsu Chemical and SUMCO dominate over 60% of the market [9]. - **High-Purity Ruthenium Targets**: The import dependency is 98%, with Japan's JX Metals and TOSOH holding a significant market share. Domestic production is limited to lower purity levels [12]. Group 3: High-End Polymer Materials - Japan leads the high-end market for electronic-grade polyimide films, with an import dependency of 85% for overall polyimide materials, and 90% for high-end applications [19]. - **Optical-grade PET Films**: The import dependency is 75%, with Japan supplying 100% of high-end films used in MLCCs [23]. Group 4: Other Key Materials in Electronics - **Sputtering Targets**: The import dependency is approximately 95%, with Japan's JX Metals and Nippon Mining controlling 60% of the market [27]. - **High-Purity Electronic Gases**: The import dependency is 70%, with Japan's Taiyo Nippon Sanso holding a 40% market share [31]. Group 5: Hydrogen Energy and Fuel Cell Key Materials - **High-End Carbon Carrier Materials**: The overall import dependency is 85%, with Japan's TOSOH dominating the market [35]. - **Fuel Cell Platinum-based Catalysts**: The import dependency is 78%, with significant reliance on European suppliers [107]. Group 6: Aerospace and High-End Manufacturing Key Materials - **High-Temperature Alloys**: The import dependency is 90%, with major suppliers from the US and Europe completely dominating the market [80]. - **Carbon Fiber**: The import dependency is 85%, with Japan and the US leading the high-end market [86]. Group 7: New Energy and Electronics Key Materials - **High-End Lithium-Ion Battery Separators**: The import dependency is 70%, with Japan's Asahi Kasei and Toray leading the market [94]. - **Ultra-Thin Copper Foils**: The import dependency is 80%, with Japan's JX Copper and Mitsui Mining dominating the supply [98].

证券代码：688138 证券简称：清溢光电 公告编号：2025-050 深圳清溢光电股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 会议召开时间：2025 年 12 月 3 日（星期三）上午 10:00-11:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 26 日（星期三）至 12 月 2 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 qygd@supermask.com 进行提问。公司将在说明会上对投资者普遍关注的问题进 行回答。 深圳清溢光电股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发 布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、 ...

Core Viewpoint - The article highlights the recent advancements in the G8.6 generation FMM project by Huancai Star and the mask production project by Qingyi Optoelectronics, with a total investment exceeding 4 billion RMB [1]. Group 1: Huancai Star's G8.6 Generation FMM Project - Huancai Star has completed the installation of the first G8.6 generation FMM manufacturing line in Ningbo, with a total investment of 580 million RMB [2]. - The production line features processing capabilities exceeding 700mm and is claimed to be the most integrated and automated FMM production line globally [2]. - The line integrates core processes such as high-precision lithography, electroforming, and laser cutting, meeting the mass production needs for 8.6 generation OLED panels, with a production efficiency improvement of over 40% compared to G6 generation lines [2]. - The pixel precision control is at the micron level, supporting the manufacturing of high-resolution OLED products like 4K and 8K [2]. - The Ningbo factory, as Huancai Star's core production base, already has the capacity for mass production of G6 generation FMM, and the new G8.6 line will further expand production capacity and enhance the product matrix [2][5]. Group 2: Qingyi Optoelectronics' Mask Production Base - Qingyi Optoelectronics held the inauguration ceremony for its flat panel display and semiconductor mask production base in Foshan on November 14 [6]. - The total investment for the two bases is 3.5 billion RMB, with the high-precision flat panel display mask base accounting for 2 billion RMB, constructed in three phases [8]. - The products from this base will cover a-Si, LTPS, and AMOLED technologies for flat panel displays, targeting 8.6 generation and below [8]. - In February 2025, Qingyi Optoelectronics received approval for a private placement plan to raise 1.2 billion RMB for the construction of the high-precision mask production base and the high-end semiconductor mask production base [8]. - The company specializes in the R&D, design, production, and sales of masks, serving various applications in flat panel displays and semiconductors, including power semiconductors and third-generation semiconductors [9].

Core Viewpoint - The stock of Qingyi Optoelectronics has shown a year-to-date increase of 24.42%, but has recently experienced declines over various time frames, indicating potential volatility in its stock performance [1][2]. Financial Performance - For the period from January to September 2025, Qingyi Optoelectronics achieved a revenue of 928 million yuan, representing a year-on-year growth of 12.28%. The net profit attributable to shareholders was 144 million yuan, reflecting a year-on-year increase of 19.33% [2]. - Since its A-share listing, the company has distributed a total of 217 million yuan in dividends, with 156 million yuan distributed over the past three years [3]. Stock Market Activity - As of November 13, the stock price of Qingyi Optoelectronics was 28.17 yuan per share, with a market capitalization of 8.868 billion yuan. The trading volume was 52.47 million yuan, with a turnover rate of 0.60% [1]. - The company has seen a net outflow of 583,600 yuan in principal funds, with significant buying and selling activity from large orders [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 18.95% to 12,700, while the average circulating shares per person decreased by 15.93% to 21,017 shares [2][3]. - Notable changes in institutional holdings include an increase in shares held by Hong Kong Central Clearing Limited and new entries from other funds [3]. Business Overview - Qingyi Optoelectronics, established on August 25, 1997, specializes in the research, design, production, and sales of photomasks, with quartz photomasks accounting for 93.16% of its main business revenue [1]. - The company operates within the semiconductor materials sector and is associated with various concepts such as third-generation semiconductors and OLED [2].

Core Viewpoint - Qingyi Optoelectronics announced participation in the "2025 Annual Online Collective Reception Day for Investors of Listed Companies in Shenzhen" organized by the Shenzhen Securities Regulatory Bureau and other entities, scheduled for November 20, 2025 [1] Group 1 - The event will take place on November 20, 2025, from 14:30 to 17:00 [1]

本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参与本 次互动交流，活动时间为 2025 年 11 月 20 日（周四）14:30-17:00。 届时公司董事、总经理姜巍先生，董事会秘书、财务总裁任新航先生及独立董事 高术峰先生、独立董事陈建惠先生将在线就公司业绩、公司治理、发展战略、经营状 况、融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交 流，欢迎广大投资者踊跃参与！ 特此公告。 深圳清溢光电股份有限公司 证券代码：688138 证券简称：清溢光电 公告编号：2025-049 深圳清溢光电股份有限公司 关于参加 2025 年度深圳辖区上市公司投资者网上集 体接待日活动的公告 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。 为进一步加强与投资者的互动交流工作，深圳清溢光电股份有限公司（以下简称 "公司"）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上市公司协会 与深圳市全景网络有限公 ...

Core Insights - The company, Qingyi Optoelectronics, reported strong performance in Q3 2025, with revenue reaching 306 million yuan, a year-on-year increase of 15.2%, and a net profit attributable to shareholders of 51.71 million yuan, up 63.9% year-on-year [1][5]. Financial Performance - The company's net profit excluding non-recurring items was particularly impressive, recording 47.38 million yuan, a significant increase of 75.3% year-on-year, indicating a notable enhancement in core business profitability [5]. - For the first three quarters of 2025, the cumulative revenue was 928 million yuan, reflecting a year-on-year growth of 12.3%, while the cumulative net profit attributable to shareholders reached 144 million yuan, up 19.3% year-on-year [5]. - The net profit excluding non-recurring items for the first three quarters was 130 million yuan, marking a year-on-year increase of 20.9% [5]. Asset Growth - As of the end of Q3 2025, the company's total assets amounted to 3.862 billion yuan, representing a substantial year-on-year growth of 40.8%, while the net assets attributable to shareholders surged by 84.2% to 2.733 billion yuan [5]. - The rapid expansion of the asset base was primarily driven by the successful fundraising of 1.2 billion yuan through a specific share issuance during the reporting period [5]. Research and Development - The company continued to invest in research and development, with R&D expenditures in Q3 amounting to 20.14 million yuan, which accounted for 6.58% of the revenue for the period [5]. Market Outlook - Analysts believe that Qingyi Optoelectronics demonstrated strong growth momentum in Q3, and the 1.2 billion yuan raised will provide ample support for its future development, with market attention focused on whether the company can maintain high growth rates for the entire year [5].

Core Viewpoint - Qingyi Optoelectronics reported a revenue of approximately 928 million yuan for the first three quarters of 2025, reflecting a year-on-year increase of 12.28% and a net profit attributable to shareholders of approximately 144 million yuan, which is a year-on-year increase of 19.33% [1] Company Summary - Qingyi Optoelectronics' market capitalization stands at 8.9 billion yuan as of the report [1]