Core Viewpoint - The semiconductor industry is experiencing a significant upward trend, particularly in the photolithography equipment sector, with companies like Dongfang Jiasheng reaching their daily limit increase in stock price [1] Group 1: Market Performance - The semiconductor supply chain saw a notable rise, with Dongfang Jiasheng hitting the daily limit increase and other companies such as Maolai Optics and Zhongying Electronics rising nearly 10% [1] - Other companies in the sector, including Huicheng Vacuum, Shanghai Xinyang, Huahong Company, Kaimeteqi, and SMIC, also experienced stock price increases [1] Group 2: Industry Forecast - SEMI (Semiconductor Equipment and Materials International) predicts that the total sales of semiconductor manufacturing equipment by original equipment manufacturers (OEMs) will reach a record high of $125.5 billion by 2025, representing a year-on-year growth of 7.4% [1]

证券代码：300236 证券简称：上海新阳 公告编号：2025-050 本次持股计划的股票来源为公司回购专用账户已回购的股份。公司于 2022 年 7 月 6 日收到中国证券登记结算有限责任公司深圳分公司出具的《证券过户登 记确认书》，公司回购专用证券账户中所持有的 257,300 股公司股票已于 2022 年 7 月 5 日以非交易过户的方式全部过户至"上海新阳半导体材料股份有限公司－ 上海新阳半导体材料股份有限公司 关于芯征途（一期）持股计划股票出售完毕暨终止的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 上海新阳半导体材料股份有限公司(以下简称"公司") 芯征途（一期）持 股计划（以下简称"本次持股计划"）所持公司股票已于近日通过集中竞价交易 全部出售完毕。根据《关于上市公司实施员工持股计划试点的指导意见》《深圳 证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》及《上 海新阳半导体材料股份有限公司芯征途（一期）持股计划》等相关规定，本次持 股计划实施完毕并终止，现将相关事项公告如下： 一、芯征途（一期）持股计划基本情况 公司于 ...

关于芯征途（三期）持股计划股票出售完毕暨终止的公告 上海新阳半导体材料股份有限公司 证券代码：300236 证券简称：上海新阳 公告编号：2025-051 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 上海新阳半导体材料股份有限公司(以下简称"公司") 芯征途（三期）持 股计划（以下简称"本次持股计划"）所持公司股票已于近日通过集中竞价交易 全部出售完毕。根据《关于上市公司实施员工持股计划试点的指导意见》《深圳 证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》及《上 海新阳半导体材料股份有限公司芯征途（三期）持股计划》等相关规定，本次持 股计划实施完毕并终止，现将相关事项公告如下： 一、芯征途（三期）持股计划基本情况 公司于 2024 年 3 月 13 日召开第五届董事会第十七次会议、第五届监事会第 十六次会议审议通过了《关于<上海新阳半导体材料股份有限公司芯征途（三期） 持股计划（草案）>及其摘要的议案》等相关议案。2024 年 4 月 23 日，上述议 案经公司 2023 年度股东大会审议通过，同意公司实施芯征途（三期）持股计划， 并 ...

上海新阳半导体材料股份有限公司 关于使用部分闲置募集资金进行现金管理到期赎回 并继续进行现金管理的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、 前次使用部分闲置募集资金进行现金管理到期赎回的情况 上海新阳半导体材料股份有限公司（以下简称"公司"）于 2024 年 3 月 13 日召开的第五届董事会第十七次会议审议通过了《关于使用闲置募集资金进行现 金管理的议案》，同意公司使用不超过 2 亿元的闲置募集资金进行现金管理，包 括购买短期（投资期限不超过一年）、低风险的保本型理财产品和转存结构性存 款、定期存款等方式。以上资金额度在自董事会审议通过之日起 12 个月内有效， 可以滚动使用。具体内容见公司于 2024 年 3 月 15 日刊登在巨潮资讯网 （www.cninfo.com.cn）上的相关公告。 证券代码：300236 证券简称：上海新阳 公告编号：2025-049 三、 投资风险分析及风险控制措施 公司投资的理财产品属于低风险投资品种，但金融市场受宏观经济的影响较 大，不排除该项投资受到市场波动影响的风险，公司将根据经济形势以及金融市 场的 ...

Core Insights - The semiconductor electroplating copper industry is experiencing rapid growth driven by strong demand from emerging technologies such as AI, 5G, and HPC, with the market expected to reach 5.2 billion yuan in 2024 and exceed 9.7 billion yuan by 2028, reflecting a compound annual growth rate (CAGR) of 16.8% [1][12][10] - Domestic companies have made significant breakthroughs in key technologies, accelerating the process of domestic substitution, with notable advancements in electroplating solutions and equipment [1][16][18] - The industry is focusing on three main directions: technological autonomy, green manufacturing, and collaborative innovation across the industrial chain [1][20] Industry Overview - Semiconductor electroplating copper involves the electrochemical deposition of copper layers on semiconductor wafers, replacing traditional aluminum interconnects due to its high conductivity and low resistance [2][4] - The market structure shows that electroplating solutions dominate with a 65% share, with advanced packaging and wafer manufacturing being the primary growth engines [1][14] Market Dynamics - The advanced packaging sector is rapidly growing, with the market size increasing from 35.13 billion yuan in 2020 to an expected 110 billion yuan by 2025, driven by AI and HPC demands [10][12] - The industry is characterized by a dual structure where foreign companies dominate the high-end market while domestic firms focus on differentiated breakthroughs [18][20] Technological Developments - Significant technological advancements include the development of a "deposition rate reversal" patent by Nantong Saike, which achieves void-free filling in TSV applications, and the introduction of the first domestic 12-inch TSV electroplating equipment by Northern Huachuang [16][18] - The industry is also seeing a shift towards green manufacturing processes, with a focus on cyanide-free technologies and intelligent control systems to enhance production efficiency and product quality [22][21] Competitive Landscape - The competitive landscape is marked by international giants controlling over 75% of the high-end electroplating liquid and additive market, particularly in the sub-5nm advanced process area [18][20] - Domestic companies like Aisen and Shanghai Xinyang are making strides in the advanced packaging electroplating copper base liquid and achieving certifications for 28nm Damascus electroplating solutions [18][19] Future Trends - The industry is expected to continue its trajectory of high-end technology breakthroughs and domestic substitution, with a focus on green upgrades and application innovations [20][21] - The market for TSV electroplating solutions is projected to reach 5 billion yuan by 2028, with a CAGR of 18.92%, indicating strong growth potential [23][10]

Core Viewpoint - The article emphasizes the critical role of photoresist in semiconductor manufacturing, highlighting the challenges faced by domestic companies in this field and exploring potential investment opportunities amidst these challenges [4]. Group 1: Challenges in Photoresist Development - High technical barriers exist due to the complex chemical formulations required for different types of photoresists, necessitating extensive R&D and experimentation [7][9]. - Strict purity requirements for photoresists are crucial, as even minor impurities can lead to defects in chips, demanding a high level of quality control [11]. - Advanced production equipment is essential for photoresist manufacturing, which is often monopolized by foreign companies, posing a significant hurdle for domestic firms [12]. Group 2: Market Landscape - The global photoresist market is projected to reach $4.74 billion (approximately 34.33 billion RMB) in 2024, with a year-on-year growth of 1.6%, driven by the rapid development of the semiconductor industry [30]. - China's photoresist market is expected to exceed 20 billion RMB by 2029, with a compound annual growth rate of about 10% from 2024 to 2029, although high-end products remain largely imported [31]. Group 3: Domestic Opportunities and Challenges - Domestic companies are making strides in the mid-to-low-end photoresist market, with some achieving production in the KrF segment and progressing towards high-end products like EUV photoresists [33][34]. - Government policies are increasingly supportive of the semiconductor industry, providing funding and guidance for photoresist R&D, which is crucial for domestic companies to overcome technological barriers [36][37]. Group 4: Investment Considerations - Investment in the photoresist sector is seen as promising due to the growing market demand driven by advancements in technologies such as 5G and AI [44]. - The potential for domestic companies to replace imported products presents a significant investment opportunity, especially as they enhance their technological capabilities [45]. - Investors are advised to focus on companies with strong technical capabilities, market competitiveness, and excellent management teams to maximize returns [51][52][53].

上海新阳半导体材料股份有限公司（以下简称"公司"）于 2024 年 3 月 13 日召开的第五届董事会第十七次会议审议通过了《关于使用闲置募集资金进行现 金管理的议案》，同意公司使用不超过 2 亿元的闲置募集资金进行现金管理，包 括购买短期（投资期限不超过一年）、低风险的保本型理财产品和转存结构性存 款、定期存款等方式。以上资金额度在自董事会审议通过之日起 12 个月内有效， 可以滚动使用。具体内容见公司于 2024 年 3 月 15 日刊登在巨潮资讯网 （www.cninfo.com.cn）上的相关公告。 证券代码：300236 证券简称：上海新阳 公告编号：2025-048 上海新阳半导体材料股份有限公司 关于使用部分闲置募集资金进行现金管理到期赎回的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 截至本公告日，公司已如期赎回上述理财产品，赎回本金 5,000 万元，取得 理财收益 1,263,888.88 元，本金及理财收益于 2025 年 7 月 11 日均已到账。 二、 公告日前十二个月内使用闲置募集资金进行现金管理的情况 截至本公告日，公司前 ...

Core Viewpoint - CMP (Chemical Mechanical Polishing) technology is essential for the development of integrated circuits, playing a critical role in achieving surface flatness during chip manufacturing, which is increasingly important as technology nodes shrink and the number of layers in chips increases [6][38]. Group I: CMP Technology and Market Overview - CMP technology is a necessary process in wafer manufacturing, which includes multiple steps such as diffusion, lithography, etching, ion implantation, thin film growth, and CMP itself [9]. - The global CMP materials market is experiencing continuous growth, driven by advancements in semiconductor technology and increasing demand from various sectors, including 5G and AI [32][49]. - The CMP materials market is characterized by a high degree of technical, talent, and patent barriers, with significant market share held by leading companies from the US and Japan [54]. Group II: Market Size and Growth - The global CMP polishing pad market size increased from $650 million in 2016 to $1.13 billion in 2021, with a CAGR of 11.69% [49]. - The CMP polishing liquid market also saw growth, rising from $1.1 billion in 2016 to $1.43 billion in 2021, with a CAGR of 5.39% [50]. - China's CMP polishing liquid market grew significantly, from 1.23 billion yuan in 2016 to 2.2 billion yuan in 2021, achieving a CAGR of 12.28%, indicating a faster growth rate compared to the global market [50]. Group III: Domestic Industry Dynamics - Chinese companies are increasingly entering the CMP materials market, with government policies supporting the development of the semiconductor industry and promoting domestic alternatives to imported materials [39][41]. - The domestic semiconductor materials market is expected to continue growing at a rate higher than the global average, driven by technological advancements and increasing local demand [32][39]. - The shift towards domestic production of CMP materials is seen as a strategic move to reduce reliance on foreign suppliers, especially in light of export controls from the US and Japan [39][54]. Group IV: Product Segmentation and Applications - CMP materials are primarily categorized into polishing liquids, polishing pads, and cleaning agents, with polishing liquids accounting for 49% and polishing pads for 33% of the market share [18]. - Various types of polishing liquids are used for different applications, including copper CMP, tungsten CMP, and dielectric CMP, each tailored for specific manufacturing processes [19][21]. - Polishing pads are typically made from polyurethane and are designed to maintain a stable polishing environment while effectively distributing polishing liquids [20][22].

Group 1 - The controlling shareholder of Shanghai Xinyang, Shanghai Xinke Investment Co., Ltd., has completed its share reduction plan [1] - The reduction period was from July 1, 2025, to July 2, 2025, with an average reduction price of 39.06 yuan per share [1] - A total of 2 million shares were reduced, accounting for 0.64% of the company's total share capital [1] Group 2 - After the reduction, Shanghai Xinke holds 20.7881 million shares, representing 6.67% of the total share capital [1]

证券代码：300236 证券简称：上海新阳 公告编号：2025-046 关于持股 5%以上股东减持计划完成的公告 持股 5%以上股东上海新科投资有限公司保证向本公司提供的信息内容真 实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 上海新阳半导体材料股份有限公司（以下简称"公司"）于 2025 年 05 月 08 日披露了《关于持股 5%以上股东减持股份的预披露公告》（公告编号：2025-038）， 公司控股股东上海新科投资有限公司（以下简称"上海新科"）拟实施股份减持计 划，具体内容详见该公告。 公司于近日接到上海新科《股份减持计划实施进展情况告知函》，获悉其本 次减持计划已实施完毕。现将有关情况公告如下： 一、 股东减持情况 1、股东减持股份情况 上海新阳半导体材料股份有限公司 | 股东名称 | 减持方 | | 减持期间 | | | | 减持均价 | 减持数量 | 减持比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 式 | | | | | | ...