Core Viewpoint - Yunnan Lincang Xinyuan Gallium Industry Co., Ltd. has made significant progress in its external investment by establishing a subsidiary for the "High-Quality Gallium Arsenide Chip Construction Project" [2][3]. Group 1: External Investment Announcement - On November 6, 2025, the company's board approved the establishment of a subsidiary to implement the "High-Quality Gallium Arsenide Chip Construction Project" [2]. - The company will jointly invest 50 million yuan with individual Liu Guangzheng to establish Hubei Xinyao Semiconductor Material Technology Co., Ltd. [2]. Group 2: Progress of External Investment - The subsidiary, Hubei Xinyao Semiconductor Co., Ltd., has completed registration and obtained a business license from the Huanggang Market Supervision Administration [3]. - The company is registered with a capital of 50 million yuan and was established on November 13, 2025 [3]. - The business scope includes manufacturing, research and sales of electronic special materials, as well as import and export activities [3].

（文章来源：证券日报） 证券日报网讯云南锗业11月17日在互动平台回答投资者提问时表示，截至2025年11月10日，公司合并普 通账户和融资融券信用账户股东总数为100387户。 ...

证券代码：002428 证券简称：云南锗业 公告编号：2025-064 统一社会信用代码：91421183MAK0QLEA3M 云南临沧鑫圆锗业股份有限公司 对外投资进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、对外投资事项前期公告情况 2025年11月6日，云南临沧鑫圆锗业股份有限公司（以下简称"公司"）第 八届董事会第三十一次会议审议通过《关于设立孙公司实施"高品质砷化镓晶片 建设项目"的议案》，同意控股子公司云南鑫耀半导体材料有限公司与自然人刘 广政共同出资5,000万元设立湖北鑫耀半导体材料科技有限公司（暂定名，以工 商登记信息为准），并同意以控股孙公司湖北鑫耀半导体材料科技有限公司为主 体实施"高品质砷化镓晶片建设项目"。 详细内容请见公司于2025年11月7日在《证券时报》《中国证券报》《上海 证券报》《证券日报》及巨潮资讯网（http://www.cninfo.com.cn）上刊登的《云 南临沧鑫圆锗业股份有限公司关于设立孙公司实施高品质砷化镓晶片建设项目 的公告》。 二、对外投资的进展情况 近日，上述控股孙公司已完成了注册登记手续，并 ...

Core Viewpoint - Yunnan Zhiye announced a capital increase of 100 million yuan by its subsidiary Yunnan Xinyao Semiconductor Materials Co., Ltd. to its subsidiary Yunnan Zhongke Xinyuan Crystal Materials Co., Ltd. [1] Group 1 - The eighth board meeting of Yunnan Zhiye approved the capital increase proposal on October 30, 2025 [1] - The capital increase has been fully paid, and the business registration changes have been completed [1] - Yunnan Zhongke Xinyuan has received a new business license from the Kunming Market Supervision Administration [1]

Core Viewpoint - The rapid growth in demand for commercial satellites, particularly low Earth orbit communication satellites, is significantly increasing the demand for space solar cells, leading to a positive growth trend in the global usage of solar germanium wafers [1][2] Group 1: Company Overview - Yunnan Germanium's main products include germanium ingots (metallic germanium) and germanium dioxide, with deep processing products such as solar germanium wafers and infrared germanium single crystals [1] - The company's photovoltaic products are primarily solar germanium wafers used in solar germanium cells, which are known for their high photoelectric conversion efficiency and stability, making them suitable for space vehicles like satellites [1] Group 2: Production Capacity and Future Plans - Currently, the production capacity for photovoltaic-grade germanium products is 300,000 wafers per year (4-inch) and 200,000 wafers per year (6-inch) [2] - The company plans to implement a "germanium wafer construction project for space solar cells" starting in March 2025, with a construction period of 18 months, aiming to reach an annual production capacity of 1.25 million wafers by the end of 2025 and 2.5 million wafers upon full completion [2]

Core Viewpoint - Yunnan Ge Industry Co., Ltd. is actively engaging with various financial institutions to discuss its production operations, product layout, capacity planning, and downstream market trends, indicating a proactive approach to investor relations and transparency [1][2]. Group 1: Company Overview - The company hosted a specific investor survey on November 13, 2025, at its production base in Kunming, attended by representatives from multiple securities firms and investment funds [2]. - Key personnel from the company included Vice General Manager and Board Secretary Jin Hongguo, and Securities Affairs Representative Zhang Xinchang, who provided insights into the company's operations [2]. Group 2: Product and Business Layout - Yunnan Ge Industry's product range includes material-grade germanium products such as germanium ingots and germanium dioxide, as well as deep-processing products like solar-grade germanium wafers and infrared germanium single crystals [2]. - The company is also involved in the compound semiconductor materials business through its subsidiary, Yunnan Xinyao Semiconductor Materials Co., Ltd., which sources raw materials like arsenic, gallium, phosphorus, and indium externally [3]. Group 3: Downstream Market and Capacity Planning - The demand for germanium is driven by its applications in infrared optics, fiber optics, and photovoltaics, with infrared optics being the largest segment [4]. - The company plans to increase its solar-grade germanium wafer production capacity from 300,000 pieces per year (4-inch) and 200,000 pieces per year (6-inch) to 1.25 million pieces per year by the end of 2025, with a total capacity of 2.5 million pieces per year upon project completion [4]. Group 4: Capital Expenditure and Future Strategy - In 2025, the company's capital expenditure will focus on three major projects: advanced germanium materials, solar-grade germanium wafers for space solar cells, and high-quality gallium arsenide wafers [5]. - The company aims to enhance its competitive edge by increasing the sales and proportion of deep-processing products while actively expanding its resource reserves through acquisitions and exploration [5].

Group 1 - Yunnan Zhenye (SZ 002428) announced that on November 13, 2025, it will accept investor research from GF Securities and others, with participation from the company's Deputy General Manager and Board Secretary Jin Hongguo [1] - As of the report, Yunnan Zhenye has a market capitalization of 17.4 billion yuan [1]

Core Viewpoint - Yunnan Germanium Co., Ltd. focuses on the production of material-grade germanium products, including germanium ingots and germanium dioxide, while planning to expand its deep processing capabilities in the semiconductor and solar energy sectors [1] Group 1: Product Offerings - The company currently produces material-grade germanium products such as germanium ingots and germanium dioxide [1] - Deep processing products include solar germanium wafers, infrared-grade germanium single crystals and blanks, germanium lenses, infrared thermal imaging devices, and optical fiber-grade germanium products [1] Group 2: Production Capacity - The current production capacity for photovoltaic-grade germanium wafers is 300,000 pieces per year for 4-inch wafers and 200,000 pieces per year for 6-inch wafers [1] - A new project, "Space Solar Cell Germanium Wafer Construction Project," is expected to increase production capacity to 1.25 million germanium wafers annually by the end of 2025 [1] Group 3: Future Plans - The company plans to enhance research and development of compound semiconductor materials and expand market outreach [1] - There is a strategic focus on increasing sales volume and sales proportion of deep processing products to gradually shift the internal industry towards deep processing [1]

Group 1: Company Overview and Products - Yunnan Ge Industry focuses on materials-grade germanium products, including germanium ingots and germanium dioxide, as well as deep-processed products like solar germanium wafers and infrared germanium products [2][3] - The main applications of the company's products span infrared optoelectronics, solar cells, fiber optics communication, LEDs, and high-power lasers [3] Group 2: Supply Chain and Raw Materials - The company does not produce raw materials like arsenic, gallium, phosphorus, and indium; all necessary raw materials for semiconductor production are sourced externally [4] - The downstream customers for compound semiconductor materials primarily include epitaxy manufacturers or device manufacturers with epitaxy capabilities [6] Group 3: Market Demand and Applications - The highest usage of germanium metal is in infrared optics, followed by fiber optics communication and photovoltaics [7] - The demand for solar germanium wafers is expected to grow significantly due to the increasing need for commercial satellites, particularly low-orbit communication satellites [11] Group 4: Production Capacity and Future Projects - Current production capacity for solar germanium wafers is 300,000 pieces per year (4 inches) and 200,000 pieces per year (6 inches), with plans to expand to 1.25 million pieces by the end of 2025 [10] - The company has initiated several key projects, including advanced germanium materials and high-quality gallium arsenide wafer construction projects, to enhance production capabilities [13] Group 5: Strategic Direction and Resource Management - The company aims to enhance its competitiveness by increasing the sales and proportion of deep-processed products while continuing to develop compound semiconductor materials [13] - There is an ongoing effort to seek resource reserves through acquisitions and integrations, with plans to disclose specific matters as they arise [13]

一、前期公告情况 2025 年 10 月 30 日，云南临沧鑫圆锗业股份有限公司（以下简称"公司"） 第八届董事会第三十次会议审议通过《关于控股子公司向孙公司增资的议案》， 同意控股子公司云南鑫耀半导体材料有限公司（以下简称"鑫耀公司"）以 10,000 万元自有资金对孙公司云南中科鑫圆晶体材料有限公司（以下简称"中科鑫圆"） 进行增资。 详细内容请见公司于 2025 年 10 月 31 日在《证券时报》《中国证券报》《上 海证券报》《证券日报》及巨潮资讯网（http://www.cninfo.com.cn）上刊登的 《云南临沧鑫圆锗业股份有限公司关于控股子公司向孙公司增资的公告》。 二、进展情况 证券代码：002428 证券简称：云南锗业 公告编号：2025-063 云南临沧鑫圆锗业股份有限公司 关于控股子公司向孙公司增资的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 电子器件制造；光电子器件销售；电子专用材料研发；电子专用材料制造；电子 专用材料销售；货物进出口；技术进出口（除依法须经批准的项目外，凭营业执 照依法自主开展经营活动）。 本次变更后，中 ...