证券代码：688531 证券简称：日联科技 公告编号：2025-063 日联科技集团股份有限公司 关于拟购买土地使用权并投资建设项目的公告 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： 1、本次拟购买土地使用权事项尚需通过公开竞拍方式进行，竞拍成功 后公司还需与交易对手方无锡市自然资源和规划局签署《无锡市国有建设 用地使用权出让合同》，土地使用权能否竞得、土地使用权的最终成交价 格及取得时间尚存在不确定性。 交易内容：日联科技集团股份有限公司（以下简称"日联科技"或" 公司"）拟开展"日联科技年产3000台套工业射线智能检测设备"项 目，项目分两期建设，本次投资为项目二期，拟参与竞拍以挂牌方式 取得无锡市新吴区约43,077平方米（约64.62亩）土地使用权。 投资金额：本次投资为项目二期，投资金额为8亿元（包含土地出让 金）。 资金来源：自有资金及银行贷款。 本次投资事项已经2025年10月16日召开的第四届董事会第十五次会议 审议通过，在公司董事会权限范围内，无需提交股东会审议。本次交 易不构成关联 ...

Core Insights - Wuxi High-tech Zone has significantly increased investment in chip research and development, focusing on overcoming critical "bottleneck" technologies [1] - Rilian Technology Group has successfully developed China's first open-tube X-ray source, enabling nanometer-level resolution detection of high-density integrated circuits and third-generation semiconductor internal structural defects [1][2] - The open-tube X-ray source is a key quality control tool for the semiconductor manufacturing industry, supporting the trend towards smaller, more complex, and integrated designs [1] Company Developments - Rilian Technology's self-developed 160kV open micro-focus X-ray source has achieved standardized production processes, allowing for mass production of its AX9600 semiconductor intelligent inspection equipment [2] - The AX9600 equipment captures 0.8μm-level defects and provides nanometer-level imaging, ensuring a closed-loop quality control process for semiconductor packaging defects [2] - The deployment of this equipment in advanced production bases has significantly improved detection accuracy and reduced reliance on imported high-end detection equipment, enhancing the market share of domestic devices [2] Industry Context - Rilian Technology is recognized as a leading player in the industrial inspection field, competing globally and reshaping the industry landscape [3] - According to a recent Frost & Sullivan report, Rilian Technology is part of the "GUN" group alongside GE and Nordson, noted for its comprehensive service capabilities in industrial X-ray detection [3] - Wuxi High-tech Zone is optimizing its business environment and has introduced several policies to support the development of the integrated circuit industry, aiming to accelerate the domestic replacement of key technologies [3]

Investment Rating - The report maintains a positive outlook on the computer industry, with a focus on domestic AI applications and edge models [3][9]. Core Insights - DeepSeek's V3.2-Exp enhances long-text efficiency through DSA fine-grained sparse attention, achieving significant improvements in training and inference efficiency while reducing API costs by over 50% [3][9]. - OpenAI's launch of Sora 2 and Apps SDK outlines a business strategy focused on "entry + ecosystem," with Sora 2 allowing users to create AI-generated short videos, achieving over 1 million downloads in its first week despite being invite-only [3][9]. - Figure 03, featuring the Helix architecture, integrates cognition and action in humanoid robots, designed for mass production with a target of 120,000 units over four years, which will drive demand for related technologies [3][9]. Summary by Sections - **DeepSeek V3.2-Exp**: The release focuses on improving long-text processing efficiency with a new attention mechanism, significantly lowering operational costs for developers [3][9]. - **OpenAI Developments**: The introduction of Sora 2 and Apps SDK enhances user interaction with large language models, potentially increasing token consumption and creating new AI application opportunities [3][9]. - **Figure 03 and Helix Architecture**: The humanoid robot's design aims for high precision in tasks, with mass production capabilities that will stimulate demand across various sectors [3][9]. Key Targets - Key investment targets include Wuxi Unicomp Technology Co., Ltd., Kingdee International Software Group, Iflytek, Newland Digital Technology, Autel Intelligent Technology, Hand Enterprise, ArcSoft Corporation, and Hygon Information Technology Co., Ltd. [3][9].

Investment Rating - The report maintains a positive outlook on the computer industry, emphasizing that artificial intelligence (AI) remains a key focus area [4][9]. Core Insights - NVIDIA plans to invest up to 100 billion USD in OpenAI to support data center development, with a goal to deploy at least 10 GW systems by 2026, which will extend the global AI infrastructure expansion cycle and boost demand for high-end GPUs and advanced packaging [4][9]. - Moore Threads' IPO has been approved, aiming to raise approximately 8 billion RMB for the development of autonomous and controllable AI chips, marking a significant step for domestic GPU manufacturers [4][9]. - Alibaba Cloud has launched the Pangu 128 AI server, which supports 128 AI chips per cabinet and enhances inference performance by about 50%, indicating a shift in focus towards interconnect optimization and efficient systems [4][9]. Summary by Sections Investment Highlights - AI continues to be a primary focus, with significant investments from major players like NVIDIA and OpenAI [4][9]. - The report highlights the approval of Moore Threads' IPO, which will facilitate the development of new AI chip technologies [4][9]. - The launch of Alibaba Cloud's Pangu 128 AI server showcases advancements in high-density and low-latency computing capabilities [4][9]. Key Targets - The report identifies key investment targets in the computer sector, including Wuxi Unicomp Technology, Kingdee International, Iflytek, Newland Digital Technology, Autel Intelligent Technology, Hand Enterprise, ArcSoft Corporation, and Hygon Information Technology [4][9].

Core Insights - The report by Frost & Sullivan highlights the "GUN" combination of GE (Baker Hughes), Unicomp (日联科技), and Nordson as the leaders in the global industrial X-ray detection equipment market, showcasing their comprehensive product offerings and technological capabilities [1][2] Group 1: Market Position and Competitors - The "GUN" combination represents a unique alliance of companies that cover all scenarios and technologies, demonstrating strong capabilities in high-end manufacturing and industrial sectors [2] - GE (Baker Hughes) has a deep-rooted presence in the energy and heavy industry sectors, with a product line ranging from nano-level to high-power X-ray sources [2] - Nordson specializes in electronic manufacturing and semiconductor packaging, serving as a key partner for leading electronic manufacturers [2] - Unicomp (日联科技) stands out as the only Chinese company in the "GUN" combination, having established a strong technological barrier in the industrial X-ray detection field over nearly two decades [2][4] Group 2: Technological Advancements - Unicomp has achieved breakthroughs in core technologies for industrial X-ray sources and has successfully industrialized a wide range of standardized detection equipment, enhancing its competitive edge [2] - The company has integrated AI technology into its detection systems, significantly improving detection efficiency and precision [3] - Unicomp's 160kV nano-level open X-ray source has recently entered mass production, breaking the overseas monopoly and providing domestic technological support for semiconductor processes [4] Group 3: Global Expansion and Market Strategy - The "GUN" combination is leading global innovation, with Nordson operating in 57 countries and holding significant influence in the semiconductor micro-focus detection field [3] - GE (Baker Hughes) leads in the high-end equipment market for nano-level 2D and 3D/CT technologies, while Unicomp has established a comprehensive industry chain connecting X-ray sources and detection equipment [3] - Unicomp is accelerating its global expansion through its overseas headquarters in Singapore and production bases in Malaysia, Hungary, and the United States [3]

Core Insights - Risen Technology (688531) has announced the mass production of its UNOS series 160kV nano-level open X-ray source, marking a significant breakthrough in China's high-end X-ray source sector [1] - The product features three core advantages: a focal size of only 0.8μm for higher resolution imaging, a maximum tube voltage of 160KV for enhanced penetration performance, and a digital control system for more efficient and intelligent operation [1] - The successful development of this product addresses high-precision detection challenges in advanced packaging, multi-layer stacked chips, and other high-end products [1] Industry Context - The independent research and production of high-performance nano-level open X-ray sources has long been dominated by overseas companies such as Aikens, Finetech, and X-WorX, with limited public sales resources [1] - Risen Technology has not only developed the first domestically produced nano-level open tube X-ray source but has also achieved large-scale production, transitioning China from "technology catching up" to "global parallel" [1] - The UNOS series has established a standardized production process, reinforcing the company's leading position in the industrial inspection industry and allowing it to take strategic initiative amid technological solutions, market competition, and the wave of import substitution [1] Technical Perspective - X-ray sources are core components of industrial inspection equipment, with their performance directly affecting detection quality and efficiency [2] - Open tube X-ray sources are preferred for high-precision, high-resolution, and high-penetration detection scenarios, especially in the semiconductor industry, where detection requirements are continuously upgraded [2] - The open tube X-ray source can quickly locate small particles and scratches during wafer manufacturing and accurately verify the integrity of through-silicon vias (TSV) and the quality of micro-bump soldering in advanced packaging [2] Market Implications - The mass production of domestic open tube X-ray sources is significant as it breaks the overseas monopoly on core technologies, significantly reduces procurement and maintenance costs for domestic manufacturers, and alleviates profit squeeze pressures [2] - It provides domestic technical support for quality inspection in semiconductor wafer processing and front-end preparation processes, effectively maintaining supply chain security amid global trade changes [2] - Industry data indicates that global semiconductor revenue is expected to reach $800 billion by 2025, with the market potentially exceeding 8.47 trillion yuan by 2030, providing a vast market space for domestic inspection equipment [2] Policy Support - Multiple government departments have introduced favorable policies to support the industry, with the "Intelligent Manufacturing Development Plan (2025)" highlighting "high-end non-destructive testing equipment" as a key development area [3] - The "Guidance Catalog for the Promotion and Application of Major Technical Equipment" includes industrial CT and X-ray detection systems, offering subsidies and tax incentives to create a favorable environment for domestic equipment [3] - Risen Technology has achieved mass production of various models of micro-focus X-ray sources ranging from 90kV to 180kV, covering a full spectrum of products, and has initiated small batch shipments of open tube X-ray sources and integrated high-power small focus X-ray sources in the first half of 2025, accelerating the industrialization process [3] Future Outlook - China's semiconductor industry is currently in a period of accelerated domestic substitution, with X-ray inspection equipment being a "must-have" in the upstream of the industrial chain, benefiting from the industry's growth [3] - Risen Technology, through technological breakthroughs and industrialization capabilities, is pushing domestic equipment to approach international levels in terms of detection accuracy, stability, and automation, gradually capturing the high-end market [3] - As the demand for high-precision detection increases in precision manufacturing and the application of 3D/CT inspection and AI automatic defect recognition technology expands, domestic open tube X-ray sources will further empower the upgrade of intelligent manufacturing [3]

Investment Rating - The report maintains a "Positive" investment rating for the machinery equipment industry [2]. Core Views - The humanoid robot sector is experiencing continuous catalysts, with significant attention on the upcoming Q3 earnings reports [3][12]. - The report emphasizes the growth potential in humanoid robots and PCB equipment, alongside a focus on industries like process engineering and construction machinery that are expected to show improved performance [3][14]. Summary by Sections Humanoid Robots - Tesla announced plans to scale up humanoid robot production, aiming to launch the third generation by the end of 2025 and start mass production in 2026 [12][58]. - Figure AI introduced the Figure03, designed for household tasks, with a manufacturing base targeting an initial annual capacity of 12,000 units and a total of 100,000 units over four years [12][58]. Machinery Sales Performance - In August, excavator sales reached 16,523 units, a year-on-year increase of 12.8%, with domestic sales up 14.8% and exports up 11.1% [13][68]. - Loader sales also showed strong growth, with 9,440 units sold in August, reflecting a 13.3% increase year-on-year [76]. Company Highlights 1. **Lvtian Machinery** - Focuses on general power machinery and has begun mass production of energy storage products. Projected net profit growth rates for Q3 2024 to Q2 2025 are 24.1%, 55.9%, 56.3%, and 70.4% respectively [3][14]. 2. **Rilian Technology** - A leading supplier of industrial X-ray inspection equipment, with a nearly 100% increase in new orders and a 38.34% revenue growth year-on-year [4][15]. 3. **Xinxin Shares** - Specializes in hard alloy tools, reporting a revenue growth of 28.97% and a net profit increase of 2.88% in the first half of the year [5][16]. Market Trends - The manufacturing PMI in September 2025 was reported at 49.8%, indicating a slight recovery, with production indices improving [26]. - The report notes a significant increase in industrial profits, with a year-on-year growth of 20.4% in August, driven by a low base from the previous year [26][34]. Policy Support - Continuous government support for the humanoid robot industry is noted, with local governments actively implementing development plans [61][62].

Group 1 - The core point of the news is that Riheng Technology's stock price dropped by 5.01% to 67.81 CNY per share, with a trading volume of 119 million CNY and a turnover rate of 1.62%, resulting in a total market capitalization of 11.229 billion CNY [1] - Riheng Technology, established on July 22, 2009, and listed on March 31, 2023, is a leading supplier of industrial X-ray intelligent detection equipment in China, focusing on the R&D, production, sales, and service of micro-focus and high-power X-ray detection equipment [1] - The company's main business revenue composition includes: X-ray intelligent detection equipment (47.07%), X-ray detection for integrated circuits and electronic manufacturing (24.31%), X-ray detection for new energy batteries (11.24%), X-ray detection for castings and welds (10.58%), spare parts and others (5.81%), other X-ray detection equipment (0.94%), and other (0.06%) [1] Group 2 - From the perspective of major fund holdings, Guoshou Anbao Fund has one fund heavily invested in Riheng Technology, specifically the Guoshou Anbao Industrial Upgrade Stock Initiation A (020775), which held 4,399 shares, accounting for 3.2% of the fund's net value, ranking as the tenth largest holding [2] - The Guoshou Anbao Industrial Upgrade Stock Initiation A fund was established on April 17, 2024, with a latest scale of 9.8162 million CNY, achieving a year-to-date return of 30.2%, ranking 2074 out of 4220 in its category, and a one-year return of 32%, ranking 1757 out of 3852 [2] - The fund manager, Meng Yijia, has been in position for 1 year and 246 days, with total fund assets of 105 million CNY, achieving a best return of 39.04% and a worst return of 30.48% during the tenure [3]

Investment Rating - The report maintains a "Recommended" investment rating for the mechanical equipment industry [3] Core Viewpoints - The mechanical equipment industry is entering the "AI Era," which will create significant investment opportunities centered around AI infrastructure and AI empowerment [4][15] - The report highlights the historical performance of the mechanical equipment sector during previous five-year plans, indicating that each era has distinct characteristics that influence investment opportunities [6][10] Summary by Sections 1. Review of Five-Year Plans - The mechanical equipment industry has shown varying performance across the past four five-year plans, with significant growth during the Eleventh Five-Year Plan (642% increase) and a decline during the Thirteenth Five-Year Plan (-21% decrease) [6][7] - The industry ranked second among 28 sectors during the Eleventh Five-Year Plan and seventh during the Fourteenth Five-Year Plan, reflecting its evolving significance [7][8] 2. AI Infrastructure: Driving Demand for PCB Equipment, AIDC, Liquid Cooling, and Semiconductor Equipment - The AI computing revolution is expected to drive structural growth in PCB demand, with a projected annual growth rate of 16.3% for AI server-related HDI from 2023 to 2028 [19] - The report anticipates that the global PCB market will reach $73.565 billion in 2024, with a 5.8% year-on-year increase, and $94.661 billion by 2029 [19] - AI servers significantly increase the unit value of PCBs, with a single AI server PCB valued at $500-$800, compared to $200-$300 for traditional servers [20] - The report identifies challenges in capacity expansion, including long delivery times for high-end equipment and complex process validations [21] 3. AI Empowerment: The Rise of Embodied Intelligent Robots - The report discusses the practical applications of embodied intelligent robots in industrial logistics, elderly care, and specialized environments, emphasizing their potential to improve efficiency and safety [4][15] - It highlights the importance of technical feasibility and cost-effectiveness in the deployment of these robots [4] 4. Investment Recommendations - The report suggests focusing on AI infrastructure and AI empowerment as key investment directions for the mechanical equipment industry during the Fifteenth Five-Year Plan [4][15] - Specific recommendations include AI PCB equipment, AIDC power generation equipment, liquid cooling solutions, and semiconductor equipment [4][15] 5. Related Listed Companies - The report provides insights into key companies in the PCB equipment sector, such as Dazhu CNC, Chipbond Technology, and Dongwei Technology, highlighting their market performance and technological advancements [40][41]

格隆汇10月9日丨日联科技(688531.SH)公布，截至2025年9月30日，公司已累计回购股份195,604股，占 公司总股本的比例为0.1181%，回购成交的最高价为60.00元/股，最低价为45.94元/股，支付的资金总额 为人民币1,009.31万元（不含交易费用）。 ...