Group 1: Core Views on Domestic Computing Power Chips - The domestic computing power chip market is expected to grow rapidly as Chinese tech companies halt purchases of NVIDIA AI chips and terminate existing orders, leading to an increase in market share for domestic chips [1] - Huawei announced a three-year roadmap for its Ascend AI chips, planning to launch four new products from 2026 to 2028, including self-developed HBM technology [1] Group 2: Expansion of Advanced Process Technology - Domestic advanced logic production is exceeding expectations, and a new iteration cycle in storage technology is anticipated next year, benefiting domestic equipment manufacturers [2] - The establishment of Changxin Storage and the initiation of its IPO process are positive indicators for the domestic advanced process sector [2] Group 3: High-End SoC Testing Machine Market - The complexity of SoC chips increases testing difficulty, creating a significant market for high-end testing machines, with domestic companies like Huafeng Measurement and Changchuan Technology actively developing solutions [3] Group 4: Advanced Packaging Requirements for Computing Chips - The shift from NVIDIA's dominance in training cards to domestic alternatives is expected, with domestic companies benefiting from advanced packaging supply chains [4] - Investment opportunities identified in various sectors, including front-end processing, back-end packaging, advanced packaging, and silicon photonics equipment [4]

Company Overview - Jiangsu Weidao Nano Technology Co., Ltd. is located in Wuxi, Jiangsu Province, and was established on December 25, 2015. The company went public on December 23, 2022. Its main business focuses on advanced micro and nano-scale film deposition technology and equipment, primarily using ALD technology [1] - The company's revenue composition includes: 76.54% from photovoltaic equipment, 18.43% from semiconductor equipment, 3.07% from supporting products and services, and 1.89% from other sources [1] Stock Performance - On September 19, the stock price of Weidao Nano increased by 5.02%, reaching 49.40 CNY per share, with a trading volume of 138 million CNY and a turnover rate of 2.80%. The total market capitalization is 22.781 billion CNY [1] Fund Holdings - According to data from major funds, one fund under Nuoan Fund has a significant holding in Weidao Nano. The Nuoan High-end Manufacturing Stock A (001707) increased its holdings by 10,000 shares in the second quarter, bringing the total to 90,000 shares, which accounts for 4.21% of the fund's net value, ranking as the seventh largest holding [2] - The fund has achieved a return of 36.3% year-to-date, ranking 1278 out of 4222 in its category, and a return of 68.77% over the past year, ranking 1311 out of 3805 [2]

Investment Rating - The report maintains an "Overweight" rating for the semiconductor equipment industry, indicating a positive outlook for the sector [1]. Core Insights - The development of domestic computing power chips is gaining attention, with significant benefits expected for domestic equipment manufacturers. Huawei announced a three-year roadmap for its Ascend AI chips, aiming to release four new products between 2026 and 2028, which is expected to enhance the market share of domestic computing power chips [4]. - Domestic advanced process expansion is exceeding expectations, which is favorable for local equipment manufacturers. The report highlights the establishment of Changxin Storage and the anticipated new iteration cycle in memory technology [4]. - The high-end SoC testing machine market presents significant opportunities, with domestic companies like Huafeng Measurement and Changchuan Technology actively working on SoC testing machines to meet the high demands of testing [4]. - The demand for advanced packaging in computing power chips is expected to benefit equipment manufacturers, as domestic supply chains are anticipated to shift towards local advanced packaging suppliers [4]. - Investment recommendations include companies involved in front-end processes such as North Huachuang and Zhongke Feimeng, as well as back-end packaging firms like Huafeng Measurement and Changchuan Technology [4].

（文章来源：证券日报） 证券日报网讯 9月18日晚间，微导纳米发布公告称，公司于2025年8月1日召开了第二届董事会第二十四 次会议，审议通过了《关于变更公司注册资本、修订并办理工商变更登记的议案》，根据公司2023年第 二次临时股东大会对董事会的授权，结合注册资本变更的实际情况，同意向工商登记机关申请办理相关 变更（备案）登记手续，变更最终以工商登记机关核准的内容为准。近日，公司完成了上述事项相关的 工商变更登记和备案手续，并取得了由无锡市市场监督管理局换发的《营业执照》。 ...

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。 | 证券代码：688147 | 证券简称：微导纳米 | 公告编号：2025-062 | | --- | --- | --- | | 转债代码：118058 | 转债简称：微导转债 | | 江苏微导纳米科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 鉴于江苏微导纳米科技股份有限公司（以下简称"公司"）2023年限制性股 票激励计划首次授予部分第二个归属期及预留授予部分第一个归属期的股份登 记手续已完成，新增股份数量3,479,154股，公司股份总数由457,678,129股增加至 461,157,283股，公司注册资本由457,678,129元增加至461,157,283元。 公司于2025年8月1日召开了第二届董事会第二十四次会议，审议通过了《关 于变更公司注册资本、修订<公司章程>并办理工商变更登记的议案》，根据公 司2023年第二次临时股东大会对董事会的授权，结合注册资本变更的实际情况， 同意向工商登记机关申请办理相关变更（备案）登记手续，变更最终以工商登记 ...

Summary of MicroGuide Nano Conference Call Company Overview - MicroGuide Nano initially focused on photovoltaic ALD equipment and later expanded into semiconductor CVD equipment [2][3] - As of the first half of 2025, semiconductor revenue has increased to nearly 20%, while photovoltaic revenue has decreased to 70%, indicating a significant change in revenue structure [2][5] Financial Performance - The company expects revenue of approximately 2.7 billion RMB in 2024, with revenue in the first half of this year around 1 billion RMB, reflecting a year-on-year growth of about 30% [2][9] - The profit for the first half of the year is close to 200 million RMB, with a net profit margin recovering to 18% [2][9] - New orders signed in 2023 reached 6.2 billion RMB, expected to drop to 3 billion RMB in 2024, but the structure is changing significantly with semiconductor orders expected to exceed photovoltaic orders, reaching 1.7-2 billion RMB [2][10] Product and Market Insights - The gross margin for photovoltaic equipment is approximately 40%, while for semiconductor equipment it is around 28-30%, with expectations for semiconductor margins to exceed 30% due to economies of scale [2][7] - MicroGuide Nano holds a dominant position in the photovoltaic ALD equipment market with a market share of 70-80% [2][14] - The domestic market for thin film deposition equipment has a low localization rate of only 20-30%, indicating significant room for replacement [2][20] Core Business Logic - The core business logic of MicroGuide Nano includes rapid growth in semiconductor equipment orders, particularly ALE and CVD equipment, and exploring new applications of ALD technology in solid-state batteries [3][21] Future Outlook - The company anticipates a net profit of approximately 300 million RMB in 2025 and around 400 million RMB in 2026, driven by the rapid growth of the semiconductor business and improving profitability [2][26] - Semiconductor equipment new orders are expected to grow significantly, with projections of 1.8-2 billion RMB in 2025 and at least 2.5 billion RMB in 2026 [21][22] Challenges and Innovations - In the solid-state battery sector, the company is addressing challenges related to solid-solid interface bonding, which is critical for energy density and performance [23][24] - ALD technology is being utilized to mitigate side reactions and mechanical failures in solid-state batteries, offering advantages in coating uniformity and thickness control [25] Conclusion - MicroGuide Nano is positioned for strong growth in the semiconductor equipment market, with a strategic focus on expanding its product offerings and addressing emerging challenges in the solid-state battery sector. The company’s financial outlook remains positive, supported by a shift in revenue structure and increasing demand for semiconductor solutions [2][26]

Summary of Solid-State Battery Conference Call Industry Overview - The focus is on the solid-state battery industry, particularly addressing the solid-solid interface issues and innovations in materials and equipment systems [1][2][3]. Key Points and Arguments 1. **Manufacturing Techniques**: Solid-state batteries utilize dry forming, isostatic pressing, structured materials, and laser equipment to enhance ionic conductivity and reduce side reactions, thereby improving overall performance and commercialization [1][7]. 2. **International vs. Domestic Strategies**: - International companies like QuantumScape and Solid Power have advanced in high-end equipment and are in pilot to small-scale production stages, employing Atomic Layer Deposition (ALD) technology for interface modification [1][5]. - Domestic companies focus on technological innovation using cost-effective methods such as dry processes and structured materials, currently in small-scale to pilot stages [5][11]. 3. **Key Manufacturing Processes**: - **Solvent-free Dry Forming**: This method has the highest application certainty and is valued at tens of millions, with high technical barriers and a significant degree of localization [11]. - **Isostatic Pressing**: This technology addresses interface contact issues systematically and is also valued at tens of millions, currently in the technical verification or small-scale procurement phase [11]. - **Structured Materials**: These include structured copper foils and supporting membranes, which are in the scale testing or introduction phase, valued in the tens of millions [11]. - **Laser Equipment**: Used for cutting and processing, currently in scale testing or introduction stages, with a high degree of localization [11]. - **Atomic Layer Deposition (AOD)**: Although primarily used in semiconductor or photovoltaic fields, its potential in lithium batteries is significant, with domestic leaders collaborating with top companies [12]. 4. **Interface Modification Techniques**: - Techniques such as coating, doping, controlled reactions, and alloying are crucial for enhancing performance by increasing contact area and blocking adverse reactions [13][14]. - ALD is highlighted as one of the most effective methods for improving interface stability and ionic conductivity [15]. 5. **Challenges in Solid-State Batteries**: - Key challenges include ionic conduction barriers due to the absence of liquid electrolytes, side reactions from active materials, mechanical matching issues, high interface resistance, and dendrite growth risks [9][10]. - Solutions require advanced material selection, precise processing techniques, and innovative design to ensure reliability, safety, and long cycle life [10]. Additional Important Insights - **Market Leaders**: Companies like QuantumScape and Solid Power are leading the global solid-state battery development due to their deep ties with automotive manufacturers and measurable progress [12]. - **Emerging Players**: Domestic companies such as CATL and BYD are beginning sample trials and pilot line setups, indicating a slower but growing presence in the market [12]. - **Key Equipment Suppliers**: Companies like Xian Dai Intelligent and Li Yuan Heng are significant players in the dry and isostatic equipment sectors, contributing to the supply chain [17][18]. - **Potential Growth Companies**: Firms like DeLong Laser and Yanhang Precision are noted for their roles in the solid-state battery supply chain, with potential for growth despite some uncertainties [23][24]. This summary encapsulates the critical aspects of the solid-state battery industry as discussed in the conference call, highlighting the technological advancements, market dynamics, and key players involved.

Company Overview - Jiangsu Weidao Nano Technology Co., Ltd. is located in Wuxi, Jiangsu Province, and was established on December 25, 2015. The company went public on December 23, 2022. It focuses on advanced micro and nano-scale film deposition technology and equipment, primarily serving the photovoltaic, integrated circuit, flexible electronics, and semiconductor industries with high-end equipment and technical solutions [1]. Business Segmentation - The company's revenue composition is as follows: 76.54% from photovoltaic equipment, 18.43% from semiconductor equipment, 3.07% from supporting products and services, and 1.89% from other sources [1]. Stock Performance - On September 17, the stock price of Weidao Nano increased by 5.06%, reaching 49.79 CNY per share, with a trading volume of 499 million CNY and a turnover rate of 10.12%. The total market capitalization is 22.961 billion CNY [1]. Fund Holdings - According to data from major funds, one fund under Nuoan Fund has a significant position in Weidao Nano. The Nuoan High-end Manufacturing Stock A Fund (001707) increased its holdings by 10,000 shares in the second quarter, bringing the total to 90,000 shares, which accounts for 4.21% of the fund's net value, ranking it as the seventh-largest holding. The estimated floating profit today is approximately 216,000 CNY [2]. Fund Performance - The Nuoan High-end Manufacturing Stock A Fund (001707) was established on June 8, 2017, with a latest scale of 62.7319 million CNY. Year-to-date returns are 28.72%, ranking 1670 out of 4222 in its category. Over the past year, the return is 59.24%, ranking 1655 out of 3804. Since inception, the fund has achieved a return of 76.6% [2]. Fund Management - The fund manager of Nuoan High-end Manufacturing Stock A is Tong Yu, who has been in the position for 4 years and 262 days. The total asset size of the fund is 64.438 million CNY, with the best return during his tenure being 11.45% and the worst being -5.09% [3].

中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为正在对 江苏微导纳米科技股份有限公司（以下简称"微导纳米""公司"）进行持续督 导工作的保荐人，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》等相关规定，中信证券履行持续督导职责，并出具本持续督 导半年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 中信证券股份有限公司 关于江苏微导纳米科技股份有限公司 2025 年半年度持续督导跟踪报告 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制度； （3）查阅公司与控股股东及其关联方的资金往来明细及相关内部审议文件、 信息披露文件； （4）查阅公司募集资金管理相关制度、募集资金使用信息披露文件和决策 程序文件、募集资金专户银行对账单、募集资金使用 ...

证券之星消息，9月15日光伏设备板块较上一交易日上涨0.43%，晶盛机电领涨。当日上证指数报收于 3860.5，下跌0.26%。深证成指报收于13005.77，上涨0.63%。光伏设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300316 | 晶盛机电 | 38.07 | 8.49% | 69.61万 | | 26.24亿 | | 688147 | 微导纳米 | 47.99 | 8.28% | 19.84万 | | · 9.34亿 | | 688680 | 海优新材 | 52.10 | 5.32% | 4.42万 | | 2.26亿 | | 603381 | 永臻股份 | 24.65 | 4.58% | 13.97万 | | 3.47亿 | | 301168 | 通灵股份 | 40.74 | 2.93% | 3.41万 | | 1.38亿 | | 688556 | 高测股份 | 11.26 | 2.74% | 58.59万 | | 6.56亿 | | ...