21智讯1月12日电，鼎龙股份在投资者关系活动中表示，公司在OLED新型显示材料YPI、PSPI领域持续 保持国内供应领先地位，仙桃产业园年产1000吨PSPI产线已投产并批量供应，YPI二期项目可满足新增 订单需求。无氟光敏聚酰亚胺（PFASFreePSPI）、黑色像素定义层材料（BPDL）等新产品客户验证进 展符合预期，PI取向液等多款新一代材料已展开客户端验证。此外，临时键合胶、封装光刻胶已实现规 模出货，高端晶圆光刻胶重点型号正冲刺订单，潜江二期量产线计划转入试运行。 ...

21智讯1月12日电，鼎龙股份在投资者关系活动中表示，公司已全面实现CMP抛光硬垫核心原材料的自 主制备，并具备自产研磨粒子的能力，显著增强供应链稳定性。该优势叠加本地化快速响应服务能力， 巩固了与国内主流晶圆厂的深度合作关系，订单续签情况良好。同时，公司正积极推进与外资本土及海 外市场客户的接洽，依托供应链安全和产品竞争力，加速国际化布局进程。 ...

Core Viewpoint - The article discusses the rapid growth and investment opportunities in the advanced packaging materials sector, highlighting the potential for domestic companies to replace foreign imports in critical areas of technology [7][8]. Market Overview - The global market for advanced packaging materials is projected to reach $2.032 billion by 2028, with the Chinese market expected to grow to 9.67 billion yuan by 2025 [8]. - Specific materials such as PSPI and Al-X photoresist are highlighted, with PSPI's market size in China estimated at 7.12 billion yuan in 2023 [8]. Investment Opportunities - The article identifies 14 key advanced packaging materials that are critical for the semiconductor industry, emphasizing the potential for domestic companies to capture market share from established foreign competitors [7][8]. - Companies like 鼎龙股份, 国风新材, and 三月科 are mentioned as potential leaders in the domestic market for advanced packaging materials [8]. Growth Projections - The market for conductive adhesives is expected to reach 3 billion yuan by 2026, while the chip bonding materials market is projected to grow from approximately $4.85 billion in 2023 to $6.84 billion by 2029 [8]. - The epoxy encapsulation materials market is anticipated to grow to $9.9 billion by 2027, indicating strong demand in the electronics sector [8]. Competitive Landscape - The article outlines the competitive landscape, noting that foreign companies like Fujifilm, Toray, and Dow currently dominate the market, but domestic firms are rapidly advancing [8]. - The need for innovation and investment in R&D is emphasized for domestic companies to successfully compete against established international players [8].

Investment Rating - The industry investment rating is "Recommended" (maintained) [1] Core Insights - The new materials sector is a crucial direction for the chemical industry, currently experiencing rapid growth in downstream demand. With policy support and technological breakthroughs, domestic new materials are expected to accelerate their long-term growth. The report emphasizes that "one generation of materials leads to one generation of industries," highlighting the foundational nature of the new materials industry as the material basis for other industries [5][15]. Summary by Relevant Sections 1. Electronic Information Sector - Focus on semiconductor materials, display materials, and 5G materials [6] - Recent developments include NVIDIA's announcement of its new AI supercomputing platform, Vera Rubin, which has entered full production. The platform features six independent chips, with the Rubin GPU achieving a peak computing power of 50 Petaflops and a training performance 3.5 times that of its predecessor [7][37]. 2. Aerospace Sector - Focus on PI films, precision ceramics, and carbon fiber [8] - The successful acquisition of a production license for the AS700 manned airship marks a significant milestone for China's aerospace industry, indicating a shift towards standardized and commercialized production [9][10]. 3. New Energy Sector - Focus on photovoltaics, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials [10] - A notable development is the introduction of the world's first all-solid-state battery by a Finnish startup, set to enter OEM mass production [11]. 4. Biotechnology Sector - Focus on synthetic biology and scientific services [12] - Beijing's economic development zone has announced measures to support the innovation and development of the synthetic biology manufacturing industry, aiming to establish a globally influential industry cluster by 2028 [13]. 5. Energy Conservation and Environmental Protection Sector - Focus on adsorbent resins, membrane materials, and biodegradable plastics [14] - The Guangxi government has issued a plan for green mine construction, aiming for over 90% of large and medium-sized mines to meet green standards by the end of 2028 [15]. 6. Industry Rating and Investment Strategy - The new materials sector is expected to benefit from the catalytic effects of downstream application sectors, gradually entering a prosperous cycle, thus maintaining a "Recommended" rating for the new materials industry [15].

Core Viewpoint - The article discusses the rapid growth and investment opportunities in the advanced packaging materials sector, highlighting the potential for domestic companies to replace foreign imports in critical areas of technology [7][8]. Market Overview - The global market for advanced packaging materials is projected to reach $2.032 billion by 2028, with the Chinese market expected to grow to 9.67 billion yuan by 2025 [8]. - Specific materials such as PSPI, epoxy resin, and conductive adhesives are identified as key growth areas, with significant market sizes and growth rates anticipated [8]. Investment Opportunities - The article outlines various advanced packaging materials and their respective market sizes, including: - PSPI: $528 million in 2023, expected to grow significantly [8]. - Conductive adhesives: projected to reach $3 billion by 2026 [8]. - Chip bonding materials: expected to grow from approximately $485 million in 2023 to $684 million by 2029 [8]. - The investment landscape is characterized by a shift towards domestic production, with numerous Chinese companies emerging as competitors to established foreign firms [7][8]. Industry Trends - The article emphasizes the trend of domestic substitution in advanced materials, particularly in sectors heavily reliant on imports from countries like Japan [7][8]. - It highlights the importance of innovation and collaboration among domestic companies to achieve breakthroughs in material science and technology [21]. Strategic Insights - Different investment stages in the new materials industry are discussed, with a focus on the varying levels of risk and investment strategies appropriate for each stage, from seed funding to pre-IPO [10]. - The article suggests that companies at the A-round stage, which have established sales channels and are experiencing rapid growth, present lower investment risks and higher potential returns [10].

Core Viewpoint - The article discusses the rapid growth and investment opportunities in the advanced packaging materials sector, highlighting the potential for domestic companies to replace foreign imports in critical areas of technology [7][8]. Group 1: Market Size and Growth Projections - The global market for advanced packaging materials is projected to reach $2.032 billion by 2028, with the Chinese market expected to grow to 9.67 billion yuan by 2025 [8]. - Specific materials such as Al-X photoresist are forecasted to grow from $2.64 billion in 2022 to $5.93 billion in 2028 [8]. - The conductive adhesive market is anticipated to reach $3 billion by 2026, indicating significant growth potential [8]. Group 2: Key Players and Competitive Landscape - Major international players in the advanced packaging materials market include Fujifilm, Toray, and Dow, while domestic companies such as Dinglong Co., Guofeng New Materials, and SanYue Technology are emerging as strong competitors [8]. - The article lists various domestic companies involved in different segments of the advanced packaging materials market, indicating a robust competitive landscape [8]. Group 3: Investment Strategies - Investment strategies vary by stage, with early-stage companies requiring thorough team and industry assessments due to high risks [10]. - As companies mature, the focus shifts to evaluating sales growth and market share, with later stages presenting lower risks and higher potential returns [10]. - The article emphasizes the importance of understanding the industry landscape and the specific needs of companies at different development stages for effective investment [10].

证券代码：300054 证券简称：鼎龙股份 湖北鼎龙控股股份有限公司投资者关系活动记录表 编号：20260109 | | ■特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系 | □新闻发布会 □路演活动 | | 活动类别 | □现场参观 | | | □其他 | | 参与单位名称 | 工银瑞信基金：杜洋、单文、马丽娜、李昱、张玮升、杜晨、杨洋、徐薇， | | 及人员姓名 | 共 名投资者及证券人员 8 | | 时间 | 年 月 日下午 2026 1 8 14:00~15:30 | | 地点 | 公司 9 楼会议室 | | 上市公司接待 | 年 月 日下午 14:00~15:30：董事会秘书杨平彩女士、投资者关系总 2026 1 8 | | 人员姓名 | 监熊亚威先生 | | | 公司介绍： 公司是国内领先的关键大赛道领域中各类核心创新材料的平台型公司， | | | 主营业务横跨两大板块—半导体业务板块、打印复印通用耗材业务板块。现 | | | 阶段，公司重点聚焦半导体创新材料业务，业务覆盖：半导体制造用 CMP | | | 工艺材料和晶圆光刻胶、半 ...

存储材料：Opex 业务直接受益下游高景气及承接 Capex 后周期产能释放 20260107 摘要 长鑫存储四季度单季度净利润接近 40 亿元，预计 2026 年全年利润规 模可达三四百亿元，并计划上市募资超过 300 亿元人民币，显示出强劲 的增长势头。 长鑫和长存在全球存储市场份额虽不足 5%，但正通过高资本开支周期 大幅扩产，目标是完成国产替代并显著提升全球市占率，有望在五年内 成为全球领先者。 中国大陆已是全球第二大半导体市场，随着新产能释放，市场份额将进 一步提升。硅片是晶圆制造材料中占比最大的部分，国内厂商包括沪硅 产业等，而光刻胶和掩模板国产化率较低，存在替代空间。 建议重点关注安集科技（CMP 抛光液，存储领域敞口高，预计 2025 年 利润 8 亿元）、鼎龙股份（CMP 抛光液）、广钢气体（电子大宗气）和 江丰电子（靶材）等半导体材料公司。 存储周期对半导体材料公司有显著影响，短期内下游原厂价格上涨将提 升稼动率并加速新产能释放，增加原材料需求；长期来看，新产能扩张 将带来耗材需求的持续增长。 Q&A 2026 年半导体设备和材料市场的整体趋势如何？ 半导体材料行业的现状及重点关注领域有哪 ...

Core Viewpoint - Dinglong Co., Ltd. announced that its sixth board meeting approved the proposal not to redeem Dinglong convertible bonds in advance [2] Group 1 - The company held its seventh meeting of the sixth board of directors on January 7 [2] - The board's decision reflects the company's strategy regarding its convertible bonds [2]

Core Viewpoint - Dinglong Co., Ltd. announced that from December 12, 2025, to January 7, 2026, its stock price has closed at or above 130% of the conversion price of "Dinglong Convertible Bonds" at 28.58 CNY/share, which is 37.15 CNY/share, triggering the conditional redemption clause [1] Summary by Relevant Sections - Stock Performance - The stock price of Dinglong Co., Ltd. has met the criteria for triggering the conditional redemption clause by closing above 37.15 CNY/share for 15 trading days [1] - Board Decision - On January 7, 2026, the board decided not to exercise the early redemption right for this and the next three months, with a review planned if the condition is triggered again after April 7, 2026 [1]