Core Viewpoint - Jiangsu Leadmicro Nano Technology Co., Ltd. reported significant growth in revenue and net profit for the first half of 2025, driven by advancements in semiconductor and photovoltaic equipment manufacturing. Company Overview and Financial Indicators - The company achieved a revenue of 1,049.95 million yuan, a 33.42% increase compared to the same period last year [6] - The total profit reached 203.23 million yuan, marking a 538.79% increase year-on-year [6] - Net profit attributable to shareholders was 192.36 million yuan, up 348.95% from the previous year [6] - The net assets of the company stood at 2,819.73 million yuan, an 8.64% increase from the end of the previous year [6] Business Operations - The company specializes in semiconductor and photovoltaic equipment, focusing on atomic layer deposition (ALD) technology and chemical vapor deposition (CVD) [7] - It has established itself as a leader in the domestic market for ALD technology, particularly in the semiconductor and photovoltaic sectors [7] - The company has formed long-term partnerships with leading domestic photovoltaic manufacturers, enhancing its market position [7] Industry Development - The semiconductor industry is experiencing significant growth, driven by advancements in AI and new chip technologies, with the global semiconductor market expected to exceed $1 trillion by 2030 [8] - The demand for thin film deposition equipment is increasing due to the need for advanced manufacturing processes in semiconductor production [8] - The photovoltaic industry is also expanding, with thin film deposition equipment playing a crucial role in improving solar cell efficiency, supported by national carbon neutrality goals [8]

江苏微导纳米科技股份有限公司2025 年半年度报告摘要 公司代码：688147 简称：微导纳米 江苏微导纳米科技股份有限公司 公司股票简况 规划，投资者应当到 www.sse.com.cn 网站仔细阅读半年度报告全文。 公司已在报告中详细描述可能存在的相关风险，敬请查阅半年度报告全文第三节 管理层讨论与分 析"四、风险因素"部分内容。 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 无 □适用 √不适用 第二节 公司基本情况 江苏微导纳米科技股份有限公司2025 年半年度报告摘要 第一节 重要提示 限公司－银华中小盘 其他 0.76 3,521,077 0 0 无 0 精选混合型证券投资 基金 境内自 杨大可 0.62 2,847,789 0 0 无 0 然人 上述股东关联关系或一致行动 行动关系。 的说明 2、除此之外，未知上述其他股东是否存在关联关系或一致行动 关系。 表决权恢复的优先股股东及持 无 股数量的说明 □适用 √不适用 □适用 √不适用 □适用 √不适用 □适用 √不适用 □适用 √不适用 第三节 重要事项 公司应当根据重要性原则，说明报告期内公司经营情况的重大变化 ...

Meeting Overview - The second meeting of the board of directors of Jiangsu Weidao Nano Technology Co., Ltd. was held on August 28, 2025, with all six directors present, ensuring compliance with relevant laws and regulations [1]. Financial Reporting - The board approved the 2025 semi-annual report and its summary, confirming the content's authenticity and completeness, which will be disclosed in designated media [2]. - The semi-annual report was not audited by an accounting firm [2]. Action Plans and Evaluations - The board approved the semi-annual evaluation report of the 2025 quality improvement and efficiency enhancement action plan, reflecting the implementation of specific measures in the first half of 2025 [3]. - The board also approved a special report on the storage and actual use of raised funds for the first half of 2025, ensuring compliance with relevant regulations [3]. Fund Management Adjustments - The board approved an adjustment to the amount of funds to be invested in the convertible bond fundraising projects, ensuring the smooth implementation of these projects without affecting the normal use of raised funds [4]. - A proposal to use up to RMB 800 million of temporarily idle raised funds for cash management was approved, allowing for investment in safe and liquid financial products [5]. Risk Management - The board approved the establishment of a foreign exchange hedging management system to enhance the company's ability to manage foreign exchange risks [6]. - A proposal to engage in foreign exchange hedging activities with banks and financial institutions was approved, with a maximum transaction amount of RMB 300 million or equivalent [7].

Meeting Overview - The second meeting of the second supervisory board of Jiangsu Weidao Nano Technology Co., Ltd. was held on August 28, 2025, with all three supervisors present, ensuring compliance with relevant laws and regulations [1][2]. Financial Reporting - The supervisory board approved the 2025 semi-annual report and its summary, confirming that the report accurately reflects the company's operational management and financial status for the first half of 2025 [2][3]. Fund Management - The board reviewed and approved a special report on the storage and actual use of raised funds for the first half of 2025, confirming compliance with relevant regulations and that the funds were stored and used appropriately [3][5]. - The board also approved an adjustment to the amount of raised funds allocated to investment projects, ensuring that this adjustment does not adversely affect the normal use of the funds or the interests of shareholders [5][6]. Cash Management - The company plans to use up to RMB 800 million of temporarily idle raised funds for cash management, investing in safe and liquid financial products while ensuring that this does not conflict with the investment plans [6][7]. Foreign Exchange Risk Management - The supervisory board approved the establishment of a foreign exchange hedging management system to mitigate foreign exchange market risks and authorized the company to engage in foreign exchange hedging activities with a maximum transaction amount of RMB 300 million or equivalent [7].

Group 1 - Hailiang Co., Ltd. achieved a revenue of 44.476 billion yuan, a year-on-year increase of 1.17%, and a net profit of 711 million yuan, a year-on-year increase of 15.03% [1] - Yinfai Storage reported a revenue of 543 million yuan, a year-on-year decrease of 18.97%, and a net profit of 62.347 million yuan, a year-on-year decrease of 20.05% [1] - Huamao Technology achieved a revenue of 1.108 billion yuan, a year-on-year increase of 14.42%, and a net profit of 137 million yuan, a year-on-year increase of 3.21% [2] Group 2 - Postal Savings Bank reported a revenue of 179.446 billion yuan, a year-on-year increase of 1.5%, and a net profit of 49.228 billion yuan, a year-on-year increase of 0.85% [4] - Bright Dairy achieved a revenue of 12.472 billion yuan, a year-on-year decrease of 1.9%, and a net profit of 217 million yuan, a year-on-year decrease of 22.53% [6] - Pianzaihuang reported a revenue of 5.379 billion yuan, a year-on-year decrease of 4.81%, and a net profit of 1.442 billion yuan, a year-on-year decrease of 16.22% [7] Group 3 - Great Wall Motors achieved a revenue of 92.335 billion yuan, a year-on-year increase of 0.99%, and a net profit of 6.337 billion yuan, a year-on-year decrease of 10.21% [9] - Haowei Group reported a revenue of 13.956 billion yuan, a year-on-year increase of 15.42%, and a net profit of 2.028 billion yuan, a year-on-year increase of 48.34% [10] - Batian Co., Ltd. achieved a revenue of 2.543 billion yuan, a year-on-year increase of 63.93%, and a net profit of 456 million yuan, a year-on-year increase of 203.71% [12] Group 4 - Yuxin Technology reported a revenue of 1.415 billion yuan, a year-on-year decrease of 5.01%, and a net profit of 220 million yuan, a year-on-year increase of 35.26% [14] - Zhongti Industry reported a revenue of 787 million yuan, a year-on-year decrease of 25.24%, and a net loss of 24.3955 million yuan [15] - Kemei Diagnostics achieved a revenue of 165 million yuan, a year-on-year decrease of 27.03%, and a net profit of 24.3408 million yuan, a year-on-year decrease of 68.24% [16] Group 5 - Huatai Co., Ltd. reported a revenue of 6.409 billion yuan, a year-on-year decrease of 1.86%, and a net profit of 67.6382 million yuan, a year-on-year decrease of 63.13% [17] - Fudan Fuhua reported a revenue of 326 million yuan, a year-on-year increase of 2.20%, and a net loss of 711.58 million yuan [19] - Haili Co., Ltd. achieved a revenue of 12.426 billion yuan, a year-on-year increase of 13.16%, and a net profit of 333.546 million yuan, a year-on-year increase of 693.76% [21] Group 6 - Xintong New Science reported a revenue of 61.852 million yuan, a year-on-year increase of 8.49%, and a net loss of 30.393 million yuan [22] - Newzhisoft achieved a revenue of 897 million yuan, a year-on-year decrease of 3.40%, and a net profit of 30.3531 million yuan, a year-on-year increase of 42.84% [24] - Maolai Optics reported a revenue of 319 million yuan, a year-on-year increase of 32.26%, and a net profit of 32.7555 million yuan, a year-on-year increase of 110.36% [25] Group 7 - Qianjin Pharmaceutical achieved a revenue of 1.818 billion yuan, a year-on-year decrease of 5.52%, and a net profit of 128 million yuan, a year-on-year increase of 8.50% [28] - Quanfeng Automotive reported a revenue of 1.218 billion yuan, a year-on-year increase of 18.90%, and a net loss of 167 million yuan [29] - Zhongjin Lingnan's application for a specific issuance of A-shares has been accepted by the Shenzhen Stock Exchange [31] Group 8 - Zhonglv Electric achieved a revenue of 2.333 billion yuan, a year-on-year increase of 29.30%, and a net profit of 618 million yuan, a year-on-year increase of 33.06% [33] - Sanhuan Group reported a revenue of 4.149 billion yuan, a year-on-year increase of 21.05%, and a net profit of 1.237 billion yuan, a year-on-year increase of 20.63% [35] - China Energy Construction achieved a revenue of 212.091 billion yuan, a year-on-year increase of 9.18%, and a net profit of 28.02 billion yuan, a year-on-year increase of 0.72% [37] Group 9 - Liou Co., Ltd. reported a revenue of 9.635 billion yuan, a year-on-year decrease of 9.62%, and a net profit of 478 million yuan, turning from a loss to profit [38] - Suzhou Bank achieved a revenue of 6.504 billion yuan, a year-on-year increase of 1.81%, and a net profit of 3.134 billion yuan, a year-on-year increase of 6.15% [40] - Shunxin Agriculture reported a revenue of 4.593 billion yuan, a year-on-year decrease of 19.24%, and a net profit of 173 million yuan, a year-on-year decrease of 59.09% [43] Group 10 - Tongfu Microelectronics achieved a revenue of 13.038 billion yuan, a year-on-year increase of 17.67%, and a net profit of 412 million yuan, a year-on-year increase of 27.72% [44] - Weidao Nano reported a revenue of 1.05 billion yuan, a year-on-year increase of 33.42%, and a net profit of 192 million yuan, a year-on-year increase of 348.95% [44] - ZTE Corporation achieved a revenue of 715.53 billion yuan, a year-on-year increase of 14.51%, and a net profit of 50.58 billion yuan, a year-on-year decrease of 11.77% [46]

Core Viewpoint - MicroGuide Nano experienced a decline of 5.12% on August 29, with a stock price of 42.07 CNY per share and a trading volume of 354 million CNY, resulting in a total market capitalization of 19.401 billion CNY [1] Company Overview - Jiangsu MicroGuide Nano Technology Co., Ltd. was established on December 25, 2015, and went public on December 23, 2022. The company focuses on advanced micro and nano-scale film deposition technology and equipment, primarily serving the photovoltaic, integrated circuit, flexible electronics, and semiconductor industries [1] - The revenue composition of the company includes: 84.83% from photovoltaic equipment, 12.12% from semiconductor equipment, 2.68% from supporting products and services, and 0.23% from other sources [1] Shareholder Information - Silver Hua Fund's Silver Hua Small and Medium Cap Mixed Fund (180031) is among the top ten circulating shareholders of MicroGuide Nano, having increased its holdings by 163,000 shares in Q2, totaling 3.5211 million shares, which represents 3.48% of the circulating shares. The estimated floating loss today is approximately 7.9928 million CNY [2] - The fund was established on June 20, 2012, with a current size of 2.638 billion CNY. Year-to-date returns are 42.49%, ranking 1037 out of 8189 in its category, while the one-year return is 74.21%, ranking 1096 out of 7969 [2] Fund Manager Performance - The fund managers of Silver Hua Small and Medium Cap Mixed Fund include Zhang Ping, Li Xiaoxing, and Du Yu, with varying tenures and performance records. Zhang Ping has a tenure of 6 years and 299 days, managing assets of 20.578 billion CNY, with the best return of 138.99% and the worst of -34.57% [3] - Li Xiaoxing has a tenure of 10 years and 57 days, managing 24.674 billion CNY, with the best return of 228.71% and the worst of -34.17% [3] - Du Yu has a tenure of 5 years and 264 days, managing 8.819 billion CNY, with the best return of 33.68% and the worst of -6.12% [3]

Core Viewpoint - MicroNano's strong revenue growth in the first half of 2025 is driven by significant advancements in both photovoltaic and semiconductor sectors, with a notable increase in net profit [1] Group 1: Financial Performance - The company achieved a revenue of 1.05 billion yuan, representing a year-on-year growth of 33.42% [1] - Net profit attributable to shareholders reached 192 million yuan, marking a substantial increase of 348.95% year-on-year [1] - Semiconductor revenue amounted to 194 million yuan, with a year-on-year growth of 27.17%, increasing its share of total revenue from 7.27% in 2023 to 18.45% [2] Group 2: Business Growth and Orders - The company reported that its semiconductor equipment orders exceeded the total for the previous year by mid-2025, with a backlog of 2.328 billion yuan, up 54.72% from the beginning of the year [2] - In the photovoltaic sector, the company generated 803 million yuan in revenue, achieving nearly 32% growth despite industry downturns [2] Group 3: Strategic Initiatives - The company plans to issue convertible bonds to raise up to 1.17 billion yuan, with proceeds allocated to semiconductor equipment production expansion and R&D [3] - The completion of the bond-funded projects is expected to increase semiconductor equipment production capacity by over 30%, addressing the growing order demand [3] - R&D investment reached 153 million yuan in the first half of 2025, accounting for 14.59% of revenue, with over 60% of total R&D spending since 2023 directed towards semiconductor equipment [3]

Semiconductor Industry Performance - Semiconductor giants SMIC and Zhongwei both reported strong financial results on the same day, with SMIC achieving a revenue of 32.348 billion yuan, a year-on-year increase of 23.1%, and a net profit of 2.301 billion yuan, up 39.8% [2] - Zhongwei reported a revenue of 4.961 billion yuan, a year-on-year growth of approximately 43.88%, and a net profit of 706 million yuan, an increase of 36.62% [2] - SMIC's revenue growth was attributed to an increase in wafer sales volume and average selling prices, with wafer sales rising by 19.9% to 4.682 million pieces [2][3] R&D and Technological Advancements - SMIC invested 2.375 billion yuan in R&D, accounting for 7.3% of its revenue, and holds 14,200 authorized patents, including 12,300 invention patents [3] - Zhongwei's R&D investment reached 1.492 billion yuan, a significant increase of 53.7%, with R&D expenses exceeding 30% of its revenue [3] - Zhongwei's plasma etching equipment sales reached 3.781 billion yuan, a year-on-year increase of approximately 40.1%, covering over 95% of etching applications [3][4] Market Expansion and Future Plans - Zhongwei is actively expanding into the semiconductor market, with plans to cover 50% to 60% of high-end semiconductor equipment through organic growth and acquisitions over the next 5 to 10 years [4] - MicroNano reported a revenue of 1.05 billion yuan, a year-on-year increase of 33.42%, driven by growth in both photovoltaic and semiconductor businesses [6] - MicroNano's semiconductor equipment revenue reached 194 million yuan, with a significant increase in orders, indicating a transition from a technology breakthrough phase to a volume order phase [7] Globalization and Strategic Investments - Gree Electric reported a revenue of 97.325 billion yuan, a year-on-year decline of 2.46%, but maintained a net profit of 14.412 billion yuan, a growth of 1.95% [10] - Gree is focusing on diversifying its revenue structure, with a goal to reduce reliance on air conditioning, as its consumer electronics revenue reached 76.28 billion yuan, a decrease of 5.09% [12] - Gree's foreign sales revenue increased by 10.19%, reaching 16.71% of total revenue, as the company accelerates its globalization strategy [15] Innovation and Product Development - Yingshi Innovation reported a revenue of 3.671 billion yuan, a year-on-year increase of 51.17%, with a focus on market expansion and new product launches [17] - The company doubled its R&D investment to 561 million yuan, accounting for 15.30% of its revenue, and holds nearly 1,000 authorized patents [18] - Yingshi plans to launch new drone products, leveraging its panoramic imaging technology, with a market share of 67.2% in the panoramic camera sector [20]

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with total revenue reaching 1.05 billion and a net profit of 192 million, reflecting year-on-year growth of 33.42% and 348.95% respectively [1] - The semiconductor equipment segment has emerged as a new growth driver, with revenue of 194 million, a year-on-year increase of 27.17%, and its share of main business revenue rising to 18.45% [1] - The company has a strong order backlog in the semiconductor sector, amounting to 2.328 billion, which is a 54.72% increase from the beginning of the year, with new orders exceeding the total for the previous year [1] - The photovoltaic equipment revenue remained robust at 804 million, showing a year-on-year growth of 31.53% [1] - The company issued convertible bonds totaling 1.17 billion, which are set to be listed on the Shanghai Stock Exchange, with proceeds aimed at enhancing semiconductor thin-film deposition equipment and expanding R&D facilities [1] - The company plans to continue its innovation-driven development strategy, increasing investment in the semiconductor field and maintaining a leading position in next-generation photovoltaic battery technology [2]

Core Viewpoint - MicroGuide Nano reported a significant increase in both revenue and net profit for the first half of the year, indicating strong financial performance and growth potential in the market [1]. Financial Performance - The company's revenue for the first half of the year reached 1,049,948,203.50 yuan, representing a year-on-year increase of 33.42% [1]. - The net profit attributable to shareholders was 192,360,633.27 yuan, showing a remarkable year-on-year increase of 348.95% [1]. Shareholder Information - Among the top ten circulating shareholders, China Merchants Bank Co., Ltd. - Southern CSI 1000 Exchange-Traded Open-Ended Index Securities Investment Fund has been identified as a new circulating shareholder [1].