Core Viewpoint - The 2025 TrendBank Lithography Industry Conference aims to address the challenges and advancements in lithography technology, materials, and equipment, focusing on enhancing domestic capabilities and self-sufficiency in the semiconductor industry [23][25][26]. Group 1: Conference Overview - The conference will take place on July 9-10, 2025, at the Sheraton Hotel in Hefei, Anhui, with an expected attendance of 300 participants [14][25]. - The event will feature over 20 speakers from the lithography industry, covering various topics related to advanced lithography technologies and materials [13][15]. - The agenda includes specialized sessions on advanced lithography technology, photoresists, and wet electronic chemicals, as well as discussions on the current state and future trends of the industry [12][15]. Group 2: Industry Challenges - The domestic high-end photoresist supply rate is low, and there is a significant gap in R&D and production technology compared to international standards, affecting the performance and quality needed for advanced chip manufacturing [23][25]. - The high-precision manufacturing technology for masks is challenging, with reliance on imported materials, which poses risks to supply chains [23][25]. - The lithography equipment market is dominated by foreign companies, particularly in high-end lithography machines like EUV, which are difficult to obtain for domestic manufacturers [23][25]. Group 3: Keynote Speakers and Topics - Notable speakers include Xiao Guilin, Vice President of Hubei Dinglong Holdings, who will discuss the development and application trends of advanced packaging PSPI and bonding adhesives [8][12]. - Other topics include the development of nano-imprint and electron beam technologies, and the challenges of hybrid bonding in advanced packaging [7][12]. - The conference will also explore the domestic production of photoresists and the challenges faced in achieving self-sufficiency [12][23]. Group 4: Conference Goals - The conference aims to foster collaboration between academia, research institutions, and industry to accelerate technological innovation and the transformation of research outcomes into practical applications [25]. - It seeks to build a communication bridge for upstream and downstream enterprises in the industry, promoting resource integration and complementary advantages [25]. - The event will provide a platform for discussing solutions to enhance the competitiveness of the lithography industry as a whole [25].

Core Insights - Flexible display technology is revolutionizing the display industry by enabling devices to be curved, folded, and rolled, breaking the traditional rigid display limitations [1][17] - The global flexible display market is projected to grow from $23.2 billion in 2024 to over $173 billion by 2031, driven by advancements in 5G, AI, and VR technologies [1][17] - The flexible OLED segment is expected to see significant growth, with global shipments estimated at approximately 617 million units in 2024, reflecting a year-on-year increase of 21.5% [21] Industry Overview - Flexible displays are made from soft materials and are characterized by low energy consumption, lightweight, durability, and shape variability [2][7] - The main types of flexible displays include bendable, foldable, rollable, and stretchable displays, with bendable and foldable displays already seeing large-scale applications in consumer electronics [2][4] Technology Landscape - The leading technology for flexible displays is flexible OLED, known for its high contrast, wide viewing angles, and rapid response times [4][6] - Other technologies include flexible LCD, electronic paper, quantum dot LEDs, and Micro-LEDs, with flexible OLED being the most widely adopted [4][6] Market Dynamics - The Asia-Pacific region dominates the flexible display market, accounting for over 65% of the global market share, with China, South Korea, and Japan as key contributors [17] - The flexible AMOLED market share in smartphones is expected to rise from 28% in 2022 to 40% in 2024, driven by the demand for high-end smartphone models [19][21] Competitive Landscape - Samsung is the leading global supplier of flexible OLED displays, while BOE Technology Group is the largest producer in China, having broken the international monopoly in 2017 [23] - Chinese companies like BOE, Visionox, Tianma, and TCL Huaxing have made significant technological advancements, enhancing their competitiveness and gradually reducing Samsung's market dominance [23]

Investment Rating - The report maintains a "Positive" investment rating for the semiconductor and semiconductor production equipment industry [11]. Core Insights - Since early 2025, the semiconductor sector has entered an adjustment period following a surge driven by AI, facing multiple challenges such as geopolitical tensions and macroeconomic uncertainties, which have hindered demand growth [4][7]. - Despite these challenges, the report suggests that the valuation pressure on semiconductor equipment and materials is limited, with expectations for improved performance and order fulfillment as domestic wafer manufacturing capabilities enhance [4][7]. Summary by Sections Market Overview - The semiconductor sector has transitioned from a valuation-driven logic to one focused on performance, with dynamic P/E ratios reflecting a normalization to mid-2024 levels [4][21]. - The semiconductor equipment and materials sectors are currently undervalued compared to the broader semiconductor sector, with dynamic P/E ratios at 12.5% and 63.2% percentile points respectively [4][21]. Industry Growth Drivers - Global semiconductor sales are projected to grow by 11.2% in 2025, with semiconductor equipment and materials expected to see sales growth rates of 7.7% and 8% respectively [8][29]. - The domestic demand for semiconductor equipment remains strong, driven by local foundries' expansion and the potential for domestic companies to capture market share from foreign competitors [8][47]. Company-Specific Insights - In the equipment sector, companies like North Huachuang are noted for their stable growth and market leadership, while firms in niche segments like Zhongke Feicai and Xinyuanwei are highlighted for their potential breakthroughs [9]. - In the materials sector, companies such as Anji Technology and Xingfu Electronics are recognized for successfully replacing domestic products and expanding into overseas markets [9]. Future Outlook - The report anticipates that the domestic semiconductor industry will continue to grow, with significant opportunities for local companies to replace foreign products and expand their market presence [8][47]. - The ongoing development of new production lines and technologies by leading domestic firms is expected to further enhance their competitive positioning in the global market [66].

Market Overview - Federal Reserve Chairman Jerome Powell anticipates significant inflationary pressures, overshadowing optimistic sentiments from Trump's comments on Iran negotiations, leading to a slight decline in major U.S. stock indices [1] - The S&P 500 index closed down 0.03%, the Dow Jones down 0.10%, while the Nasdaq rose 0.13% [1] - Technology stocks led the gains in the U.S. market, with banks benefiting from proposed easing of capital regulations on U.S. Treasury transactions [1] - Circle, the first stablecoin company, surged over 34% following the U.S. Senate's passage of a stablecoin regulatory framework [1] Commodity and Financial Markets - Gold prices fell over 1% from intraday highs, while platinum reached an eleven-year high [3] - Oil prices experienced volatility, declining after Trump expressed a desire to avoid U.S. involvement in Middle Eastern conflicts [3] AI and Technology Developments - OpenAI has initiated a price war by discounting its ChatGPT enterprise version, putting Microsoft in a reactive position [4] - Sam Altman, in a recent interview, discussed the potential of AI to discover new sciences and the future prevalence of AI companions and humanoid robots [5] Regulatory and Policy Updates - The Central Financial Committee of China issued opinions to support the development of Shanghai as an international financial center, emphasizing the use of blockchain in supply chain finance [8] - The China Securities Regulatory Commission released guidelines to enhance the inclusivity of the Sci-Tech Innovation Board [8] Industry Insights - Goldman Sachs predicts a boom in China's AI/AR glasses market, projecting sales to reach 7 million units by 2030 [7] - The Ministry of Industry and Information Technology of China aims for over 70% digitalization in key business processes of large textile enterprises by 2027 [9] Stock Market Highlights - Circle's market capitalization reached approximately $44.4 billion (around 320 billion RMB) after a significant price increase [15] - The price of platinum has risen over 60 CNY per gram in the past month, with a nearly 30% increase [16][17] - DRAM prices saw a significant increase, with DDR4 experiencing a 53% rise in May, the largest increase since 2017 [18][19]

Core Viewpoint - Dinglong Co., Ltd. has successfully penetrated the domestic mainstream wafer factory market with its CMP polishing pad products and has received small batch orders from a major foreign logic manufacturer after passing testing [1] Group 1: Product Development and Market Penetration - The company has developed over 20 high-end wafer photoresists, with 12 samples sent for client validation, and 7 of these have entered the gallon sample stage, indicating smooth overall testing progress [1] - For the year 2024, the company has already received orders for two photoresist products from two domestic mainstream wafer factory clients [1]

Group 1: Business Progress and Market Expansion - The company's polishing pad products have penetrated mainstream domestic wafer manufacturers and are actively promoting to foreign wafer manufacturers, achieving small batch orders and expanding market growth [1] - In the semiconductor display materials sector, the company launched several key products, achieving a sales revenue of 130 million yuan in Q1 2025, representing a year-on-year growth of 85.61% and a quarter-on-quarter growth of 8.48% [3] - The company has established itself as a leading domestic supplier for YPI and PSPI products, securing a significant market share among mainstream display panel customers [3] Group 2: Research and Development Investments - In 2024, the company invested 462 million yuan in R&D, a year-on-year increase of 21.01%, accounting for 13.86% of total revenue, which supports the rapid deployment of new products and resources [2] - The company is actively expanding its semiconductor materials product lineup, including CMP polishing pads and advanced packaging materials, with ongoing client validation processes [1][2] Group 3: Production Capacity and Supply Chain - The company is enhancing its production capacity with the YPI product line in Xiantao, planning to complete the second phase of construction for an annual capacity of 800 tons [4] - The PSPI production line in Xiantao is set to begin operations in the first half of 2024, with an annual capacity of 1,000 tons [4] - The company has achieved a high degree of autonomy in its supply chain for core raw materials, which enhances production stability and cost advantages [6]

证券代码：300054 证券简称：鼎龙股份 公告编号：2025-056 债券代码：123255 债券简称：鼎龙转债 关于控股股东部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完 整，没有虚假记载、误导性陈述或者重大遗漏。 湖北鼎龙控股股份有限公司（以下简称"公司"）于近日收到本公司控股股东、 共同实际控制人之一--朱双全先生的函告，获悉朱双全先生所持有本公司的部分 股份办理了质押业务，具体事项如下： 注：1、截至 2025 年 6 月 16 日，公司 2024 年股票期权激励计划第一个行权期可行权的 9,775,200 股已行权 5,131,115 股，公司总股本由 938,282,591 股变更为 943,413,706 股。（同 下表） 湖北鼎龙控股股份有限公司 2、本次质押股份不存在被用作重大资产重组业绩补偿等事项的担保或其他保障用途的 情形。 股东 名称 是否 为控 股股 东或 第一 大股 东及 其一 致行 动人 本次 质押 数量 （股） 占其 所持 股份 比例 占公 司总 股本 比例 是否为限 售股（如 是，注明 限售类 型） 是否 为补 充质 押 质押 起始 日 质押 到 ...

四、备查文件 特此公告。 湖北鼎龙控股股份有限公司董事会 三、其他说明 截至本公告披露日，朱双全先生及其一致行动人质押股份数量占其所持公司 股份数量比例为 7.45%，其资信状况良好，具备良好的资金偿还能力，质押风险 可控，不存在平仓风险，不会对公司生产经营、公司治理等产生影响，也不会导 致公司实际控制权发生变更。公司将持续关注其质押变动情况，并按相关规定及 时履行信息披露义务，敬请广大投资者注意投资风险。 | | 证券代码：300054 | | | | | | | | | | 公告编号：2025-056 | | | | | | | 证券简称：鼎龙股份 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 债券代码：123255 | | | | 债券简称：鼎龙转债 | | | | | | | | | | | | | | | | | | | | ...

Group 1 - The Shanghai Stock Exchange's benchmark market-making bond ETFs have collectively surpassed 100 billion yuan, with a total scale of nearly 48 billion yuan as of June 10, representing a 300% increase from the issuance scale [1] - The Shenzhen Stock Exchange is set to welcome "H+A" listed companies, which is expected to bring more quality listing resources and new opportunities for the A-share market [1] Group 2 - BMW's 5 Series has seen a price drop of 180,000 yuan within six months, with a nearly 40% decline in its five-year resale value [2] - Google has offered voluntary severance packages to employees across multiple departments, including its core engineering and search teams, as part of its latest workforce reduction efforts [2] Group 3 - Volkswagen announced a leadership change, appointing Kai Ze Kai as the new CEO for its passenger car brand in China, effective July 1, 2025 [3] - The wholesale price of the 25-year Flying Moutai has dropped below 2,000 yuan per bottle, indicating a price decline in the liquor market [3] Group 4 - The founder of Pang Dong Lai estimates the company's net profit for 2025 to be around 1.5 billion yuan, with an average monthly income of 9,000 yuan for over 8,000 employees [3] Group 5 - Tencent has established an executive committee for its online video business unit, with Sun Zhonghuai appointed as chairman [4] - Industrial Securities has announced a leadership change, with Su Junliang appointed as the party secretary [4] Group 6 - Yilian Biotech has hired banks to arrange its IPO in Hong Kong, aiming to raise over 100 million USD [5] - October Rice Field has received a notice from the China Securities Regulatory Commission regarding its H-share full circulation application [5] Group 7 - New City Development plans to fully repurchase its 300 million USD offshore bonds maturing in July [5] - Rongfa Nuclear Power intends to issue non-public corporate bonds totaling no more than 1 billion yuan [5] Group 8 - Changyuan Donggu has been designated as a supplier for a well-known domestic automaker's engine cylinder body semi-finished product project, with an expected total sales amount of 450 million to 500 million yuan over five years [6] Group 9 - Huaxia Bank has received approval from the National Financial Regulatory Administration for the appointment of Zhang Chuanliang as a director [7][8] Group 10 - Dinglong Co. plans to acquire an 8% stake in its subsidiary, Dinghui Microelectronics, for 240 million yuan, increasing its ownership from 91.35% to 99.35% [9] Group 11 - The Shanghai Composite Index rose by 0.52% to surpass 3,400 points, with significant gains in rare earth and automotive parts sectors [10]

Group 1 - Libet has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds, valid for 12 months [1] - Dinglong plans to acquire an additional 8% stake in its subsidiary, increasing its ownership from 91.35% to 99.35% for a total price of 240 million yuan [1] - Longyuan Donggu has been designated as a supplier for a major automotive project, with an expected total sales amount of 450 to 500 million yuan over five years [14] Group 2 - Luoniushan reported a sales revenue of 100 million yuan in May, a year-on-year decrease of 11.45% [2] - Baoming Technology has secured a loan commitment of up to 7 million yuan for stock repurchase [2] - Xinhua Pharmaceutical has received approval for the listing of a new chemical raw material used in treating chronic heart failure and hypertension [3] Group 3 - China Minmetals announced a new contract amount of 396 billion yuan for the first five months of the year, a decrease of 22.2% year-on-year [7] - Zhongbei Communication's application for a specific stock issuance has been accepted by the Shanghai Stock Exchange [8] - Rongfa Nuclear Power plans to issue bonds not exceeding 1 billion yuan to repay debts and supplement working capital [9] Group 4 - Phoenix Optical plans to invest 8.5 million USD to establish a wholly-owned subsidiary in Vietnam for manufacturing optical products [11] - Xiamen Airport reported a passenger throughput of 2.4752 million in May, a year-on-year increase of 8.34% [12] - Weilan Biological has received a new veterinary drug registration certificate for a product aimed at treating canine allergies and inflammation [13] Group 5 - Shouxiangu has completed the registration of a health food product that claims to enhance immunity [13] - Xingye Yinxin's subsidiary has passed a resource reserve verification report, confirming significant mineral reserves [16] - Shaanxi Construction has won two major projects with a total contract value exceeding 2.8 billion yuan [18] Group 6 - Huari received a cash dividend of 50 million yuan from its subsidiary [20] - Zhongchu's deputy general manager has resigned due to governance arrangements [21] - Kexin Pharmaceutical's core product has received breakthrough therapy designation from the National Medical Products Administration [39]