Core Viewpoint - The stock price of Lian De Equipment (300545.SZ) has shown volatility over the past week, with a slight overall decline of 0.16% despite a recent rebound on February 13 [1] Stock Performance - On February 9, the closing price was 32.04 yuan, marking a daily increase of 2.69% - The stock experienced three consecutive days of decline, with closing prices of 31.39 yuan (down 2.03%) on February 10, 31.02 yuan (down 1.18%) on February 11, and 30.56 yuan (down 1.48%) on February 12 - A rebound occurred on February 13, with a closing price of 31.25 yuan, reflecting an increase of 2.26% - The price fluctuation over the past week was approximately 6.52%, with a net outflow of about 26.33 million yuan in the last five days, although there was a net inflow of 12.73 million yuan on February 13, ending a streak of outflows - The short-term resistance level is noted at around 35.98 yuan [1] Recent Developments - Lian De Equipment has made progress in the perovskite battery equipment sector, with related equipment entering the pilot testing phase at client sites - According to the company's response on February 10 on the investor interaction platform, core process equipment such as perovskite coating machines and rapid vacuum extraction equipment has been tested by leading domestic manufacturers, indicating that the technology is at an industry-leading level - This advancement may provide long-term growth potential for the company in the new energy equipment sector, although the short-term impact on orders has yet to be realized [1]

Group 1 - The company is actively increasing its research and development efforts in the fields of solid-state batteries and perovskite batteries, aiming to capture market opportunities as these industries are in their early development stages [2] - The company has achieved a technological breakthrough in solid-state battery equipment, with ultrasonic welding process equipment already delivered to customers [2] - In the perovskite battery sector, relevant equipment is currently undergoing pilot testing at client sites, indicating progress towards commercialization [2] Group 2 - The company plans to continue monitoring industry trends and increase R&D investment to leverage its technological advantages when clients establish large-scale production lines [2] - The goal is to gain a larger market share in these emerging fields by being well-prepared for future demand [2]

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。 深圳市联得自动化装备股份有限公司（以下简称"公司"）近日收到全资子公司深圳市联 得半导体技术有限公司（以下简称"联得半导体"）、深圳市联鹏智能装备科技有限公司（以 下简称"深圳联鹏"）的通知，联得半导体、深圳联鹏的注册地址由"深圳市龙华区观湖街道 樟溪社区下围工业区一路 1 号 L 栋 101"变更为"深圳市龙华区观湖街道大和社区大和工业区 28 号 1 栋 101"。 联得半导体、深圳联鹏已办理完成工商变更登记手续，并取得了深圳市市场监督管理局 换发的《营业执照》，除上述注册地址外，联得半导体、深圳联鹏营业执照其他登记事项未 发生改变，变更后的登记信息如下: 证券代码：300545 证券简称：联得装备 公告编号：2026-003 深圳市联得自动化装备股份有限公司 关于全资子公司注册地址变更的公告 1、名称：深圳市联鹏智能装备科技有限公司 （一）深圳市联得半导体技术有限公司 1、名称：深圳市联得半导体技术有限公司 2、统一社会信用代码：91440300MA5GWD043X 3、类型：有限责任公司（法人独资） 4、 ...

Core Viewpoint - The company, LianDe Equipment, is forecasting a significant decline in net profit for the year 2025, with estimates indicating a decrease of 51.44% to 62.14% compared to the previous year [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between 92 million and 118 million yuan [1] - The net profit after deducting non-recurring gains and losses is anticipated to be between 86.5 million and 112.5 million yuan, reflecting a year-on-year decrease of 50.92% to 62.26% [1] Reasons for Performance Change - The company cites a complex and severe external economic environment, leading to intensified competition in the new semiconductor display equipment industry, which has resulted in a decrease in the amount of orders that meet acceptance standards and can be recognized as revenue [1] - The gross profit margin of the company's main products has not met expectations, with some recognized orders experiencing a year-on-year decline in gross profit margin, further compressing profitability [1] - The impact of non-recurring gains and losses on net profit is estimated to be around 5.5 million yuan for 2025 [1]

Financial Performance Forecast - The company expects a net profit of approximately 92 million yuan for 2025, representing a decline of over 62% compared to the previous year's profit of 118 million yuan[5] - The net profit after deducting non-recurring gains and losses is projected to be around 86.5 million yuan, down 62.26% from 112.5 million yuan in the same period last year[5] - The expected impact of non-recurring gains and losses on net profit for 2025 is approximately 5.5 million yuan[8] Revenue and Economic Environment - The decrease in revenue is attributed to a competitive external economic environment and a reduction in the order amount that meets acceptance standards, impacting the company's operating income[7] Communication and Reporting - The company has communicated with its auditing firm regarding the performance forecast, and there are no discrepancies in the forecast data[6] - The specific financial data for 2025 will be detailed in the company's annual report[10] - The company advises investors to make cautious decisions and be aware of investment risks[10]

Core Viewpoint - The company is focusing on the semiconductor industry, particularly in the field of chip packaging and testing equipment, and is committed to expanding its presence in advanced packaging processes and third-generation semiconductor equipment [1] Group 1: Company Focus - The company's current equipment in the semiconductor sector mainly includes high-speed and high-precision devices such as display driver chip ILB flip chip machines, semiconductor flip chip machines, soft solder die bonding machines, eutectic die bonding machines, film laminating machines, and lead frame inspection machines [1] - The company plans to continuously increase its R&D investment in the semiconductor sector to enhance its new business segment and promote the development of its semiconductor equipment business [1] Group 2: Market and Technology Expansion - The company is actively laying out and expanding in the areas of advanced packaging processes and third-generation semiconductor-related equipment, focusing on both market and technological aspects [1]

Core Viewpoint - The company is actively increasing its investment in the research and development of perovskite equipment and market expansion, indicating a strategic focus on this emerging technology [1] Group 1: Technological Advancements - The company has made progress in key processes related to perovskite equipment, including slot-die coating, rapid vacuum extraction, and high-temperature crystallization [1] - The company's coating equipment is one of the few in China capable of producing 2.4-meter wide mass production products, showcasing its advanced capabilities in the market [1] Group 2: Market Development - The relevant equipment has entered the pilot testing phase at client sites, indicating a move towards practical application and validation of the technology [1]

Core Viewpoint - The company is actively advancing its research and development in perovskite equipment, highlighting its potential advantages in lightweight, high energy-to-weight ratio, low cost, and stability for space power solutions [1] Group 1: Company Progress - The company has made progress in key processes for perovskite equipment, including slot-die coating, rapid vacuum extraction, and high-temperature crystallization [1] - The perovskite coating equipment is one of the few in China capable of producing 2.4-meter wide mass production products [1] - Current equipment is in the pilot testing phase with clients, indicating a move towards practical application [1]

Summary of Key Points from Conference Call Records Industry Overview - The conference call discusses the AI equipment sector, focusing on semiconductor, gas turbine, PCB equipment, and liquid cooling technologies. [1][3] Company Highlights Guanggang Gas - Expected to double new orders from 150,000 cubic meters to approximately 300,000 cubic meters by 2026, with a market capitalization projected to grow from 26 billion to between 80 billion and 100 billion [1][4] - Profit margin anticipated to rise from 10% in 2025 to 34% in the first half of the current year [4] - Actively expanding into overseas markets and developing new products like supercritical carbon dioxide [4] Gas Turbine Sector - Global gas turbine orders expected to increase from 85 GW in 2025 to over 120 GW in 2026, driven by severe electricity shortages in the U.S. [1][5] - Jie Rui is highlighted as a key player, with a potential market capitalization of over 100 billion due to shortened delivery times and strong channel capabilities [5] Gas Turbine Blade Market - Ying Liu and Wan Ze hold less than 2% of a market worth approximately 170 billion, indicating significant growth potential [6] - Improvement in yield rates from 40% to 50-60% expected, enhancing order capacity and profit margins, which currently exceed 40% [6] Lian De Co. - Projected profits for 2026 could exceed expectations, reaching between 350 million and 360 million, with a potential increase to 500 million by 2027 [9] PCB Equipment - Notable companies include Dazhu Laser, New Qiwei, and Kaige, with Dazhu Laser expected to achieve profits of 2 billion by 2026, corresponding to a market cap of 80 billion [10] Liquid Cooling Technology - Companies like Hongsheng and Ying Wei are recommended, with Ying Wei's products being more reliable and likely to enter the U.S. AI supply chain [11] Optical Communication Equipment - Aotewei is identified as a key player with significant market potential in AOI and gold wire bonding machines, with a potential revenue increase of 2 to 2.5 billion if it captures 10% market share [12] Semiconductor Industry - Huahong Semiconductor is highlighted as a key player with a favorable competitive landscape and future growth potential [13] Additional Insights - The gas turbine sector is seen as the most sustainable segment within AI equipment, with increasing demand due to electricity shortages in the U.S. [5] - The liquid cooling technology is noted for its potential to ensure operational stability in data centers, especially under extreme weather conditions [11] - The PCB equipment sector is characterized by limited investment options, making it a secondary focus compared to gas turbines and liquid cooling [3] This summary encapsulates the key points and insights from the conference call, providing a comprehensive overview of the discussed companies and industry trends.

Group 1 - The company, Lian De Equipment, announced the completion of its registered capital change, increasing from 178,484,320 yuan to 185,461,376 yuan [2] - The company has also completed the filing of its updated Articles of Association [2]