证券代码：300666 证券简称：江丰电子 宁波江丰电子材料股份有限公司 向特定对象发行股票 募集资金使用可行性分析报告（修订稿） 2025 年 9 月 | 序号 | 项目名称 | 总投资金额 （万元） | 拟使用募集资金 （万元） | | --- | --- | --- | --- | | 年产 1 项目 | 5,100 个集成电路设备用静电吸盘产业化 | 109,790.00 | 99,790.00 | | 2 | 年产12,300个超大规模集成电路用超高纯金属 溅射靶材产业化项目 | 35,000.00 | 27,000.00 | | 3 | 上海江丰电子研发及技术服务中心项目 | 9,992.90 | 9,992.90 | | 4 | 补充流动资金及偿还借款 | 58,000.00 | 58,000.00 | | | 合计 | 212,782.90 | 194,782.90 | 在董事会审议通过本次发行方案后、募集资金到位前，公司董事会可根据市 场情况及自身实际，以自筹资金择机先行投入募投项目，待募集资金到位后予以 置换。如扣除发行费用后实际募集资金净额低于拟使用募集资金金额，公司将通 过自有资金、银 ...

宁波江丰电子材料股份有限公司 第三条 互动易平台管理是公司投资者关系管理的重要组成部分，公司通过互 动易平台发布信息或回复投资者提问，应当注重诚信，尊重并平等对待所有投资者， 主动加强与投资者的沟通，增进投资者对公司的了解和认同，营造健康良好的市场 生态。 第四条 公司应当在监管部门规定的时间内及时回复投资者问题。 第五条 公司在互动易平台发布信息或回复投资者提问时，应当谨慎、理性、 客观，以事实为依据，保证发布的信息和回复的内容真实、准确、完整。公司信息 披露以指定信息披露媒体披露的内容为准，不得通过互动易平台披露未公开的重大 信息。公司在互动易平台发布或回复的信息不得与依法披露的信息相冲突。 第六条 公司在互动易平台回复投资者提问时，不得使用虚假性、夸大性、宣 传性、误导性语言，应当注重与投资者交流互动的效果，不得误导投资者。不具备 明确事实依据的内容，公司不得在互动易平台发布或者回复。 第三章 内容规范性要求 互动易平台信息发布及回复内部审核制度 第一章 总则 第一条 为充分利用深圳证券交易所（以下简称"深交所"）搭建的互动易平 台，规范宁波江丰电子材料股份有限公司（以下简称"公司"）通过互动易平台与 ...

关于聘任董事会秘书兼投资总监的公告 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。 宁波江丰电子材料股份有限公司（以下简称"公司"）于 2025 年 9 月 8 日 召开第四届董事会第二十四次会议，审议通过《关于聘任公司董事会秘书兼投资 总监的议案》。经公司董事长提名，董事会提名委员会审核，董事会同意聘任邹 俊伟先生为公司董事会秘书兼投资总监，任期自董事会审议通过之日起至第四届 董事会届满之日止。 特此公告。 证券代码：300666 证券简称：江丰电子 公告编号：2025-101 宁波江丰电子材料股份有限公司 邹俊伟先生已取得深圳证券交易所颁发的《上市公司董事会秘书培训证明》， 其具备与岗位要求相适应的职业操守，具备履行职责所必需的专业能力与从业经 验。其任职符合《中华人民共和国公司法》（以下简称"《公司法》"）、《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（2025 年修 订）》（以下简称"《规范运作指引》"）等法律法规及《公司章程》的有关规定， 不存在不得担任上市公司高级管理人员、董事会秘书的情形。邹俊伟先生的简历 详见附件。 ...

宁波江丰电子材料股份有限公司（以下简称"公司"）第四届董事会第二十 四次会议决定于 2025 年 9 月 24 日（星期三）召开公司 2025 年第四次临时股东会 （以下简称"本次股东会"），现将本次股东会的有关事项通知如下： 一、召开会议的基本情况 证券代码：300666 证券简称：江丰电子 公告编号：2025-102 宁波江丰电子材料股份有限公司 关于召开 2025 年第四次临时股东会的通知 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。 （2）网络投票时间：通过深圳证券交易所（以下简称"深交所"）交易系统 进行网络投票的具体时间为：2025 年 9 月 24 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深交所互联网投票系统进行网络投票的具体时间为：2025 年 9 月 24 日上午 9:15 至下午 15:00。 5、会议的召开方式 1、股东会届次：2025 年第四次临时股东会 2、会议召集人：公司董事会 3、会议召开的合法、合规性：公司于 2025 年 9 月 8 日召开第四届董事会第 二十四次会议，审议通过《关 ...

证券代码：300666 证券简称：江丰电子 公告编号：2025-096 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、董事会会议召开情况 1、宁波江丰电子材料股份有限公司（以下简称"公司"）第四届董事会第二 十四次会议的会议通知于 2025 年 9 月 6 日通过电子邮件等方式送达至各位董事， 通知中包括会议相关资料，同时列明了会议的召开时间、地点和审议内容。 二、董事会会议审议情况 宁波江丰电子材料股份有限公司 第四届董事会第二十四次会议决议公告 2、本次会议于 2025 年 9 月 8 日在公司会议室，以现场及通讯相结合的方式 召开。 3、本次会议应出席董事 9 人，实际出席董事 9 人。其中现场出席会议的董 事 3 人，董事长边逸军先生、董事姚舜先生、吴祖亮先生，以及独立董事费维栋 先生、张杰女士和刘秀女士以通讯方式参会。 4、本次会议由董事长边逸军先生主持，公司高级管理人员列席了本次会议。 5、本次会议的召集、召开和表决程序符合《中华人民共和国公司法》（以下 简称"《公司法》"）等法律法规和《公司章程》的有关规定。 会议审议并通过了如下议案： 1 ...

Investment Rating - The report maintains a "Recommended" rating for Jiangfeng Electronics [2][10]. Core Views - Jiangfeng Electronics achieved a revenue of 2.095 billion yuan in the first half of 2025, representing a year-on-year growth of 28.71%. The net profit attributable to the parent company was 176 million yuan, with a year-on-year increase of 3.60% [3][4]. - The company's ultra-pure target material business generated revenue of 1.325 billion yuan, up 23.91% year-on-year, with a gross margin of 33.26%, an increase of 2.93 percentage points compared to the same period last year [4]. - The semiconductor precision components business saw revenue of 459 million yuan, a year-on-year growth of 15.12%, although the gross margin decreased by 10.99 percentage points to 23.65% due to initial production phase challenges [4]. - Jiangfeng Electronics is increasing its R&D investment, with R&D expenses rising from 125 million yuan in 2022 to 172 million yuan in 2023, and projected to reach 217 million yuan in 2024, reflecting a compound annual growth rate of 32.06% over three years [5]. - The company plans to raise up to 1.948 billion yuan through a private placement to fund projects including the production of electrostatic chucks and ultra-pure metal sputtering targets [5][6]. Financial Performance Summary - For the first half of 2025, Jiangfeng Electronics reported a revenue of 2.095 billion yuan, a 28.71% increase year-on-year, and a net profit of 176 million yuan, up 3.60% [3][4]. - The forecast for revenue from 2023 to 2027 shows significant growth, with expected revenues of 2.324 billion yuan in 2023, 3.605 billion yuan in 2024, and 4.646 billion yuan in 2025, reflecting growth rates of 45.80%, 38.57%, and 28.88% respectively [12][13]. - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 1.98 yuan, 2.41 yuan, and 2.98 yuan respectively [10][12].

Investment Rating - The report maintains an "Overweight" rating for the semiconductor sector, driven by AI and domestic substitution [4]. Core Insights - The semiconductor industry is experiencing an upward cycle, with Q2 2025 revenue and net profit showing year-on-year and quarter-on-quarter growth, benefiting from AI-driven demand and ongoing domestic substitution efforts [4][12][26]. Summary by Sections Overall Industry Performance - The semiconductor sector achieved a revenue of 318.609 billion yuan in H1 2025, a year-on-year increase of 15.54%, and a net profit of 24.159 billion yuan, up 32.41% year-on-year. In Q2 2025, revenue reached 170.023 billion yuan, growing 15.17% year-on-year and 14.43% quarter-on-quarter, with net profit at 14.825 billion yuan, reflecting a year-on-year increase of 30.91% and a quarter-on-quarter increase of 58.82% [3][12][26]. Subsector Performance 1. **Semiconductor Equipment** - The semiconductor equipment sector reported H1 2025 revenue of 38.923 billion yuan, up 30.86% year-on-year, and a net profit of 6.306 billion yuan, up 18.84% year-on-year. Q2 2025 revenue was 21.038 billion yuan, a year-on-year increase of 28.80% and a quarter-on-quarter increase of 17.62% [27][32]. 2. **Semiconductor Materials** - The semiconductor materials sector achieved H1 2025 revenue of 22.416 billion yuan, up 11.73% year-on-year, with a net profit of 1.437 billion yuan, up 8.81% year-on-year. Q2 2025 revenue was 11.762 billion yuan, reflecting a year-on-year increase of 12.20% and a quarter-on-quarter increase of 10.40% [39][43]. 3. **Digital Chips** - The digital chip sector saw H1 2025 revenue of 87.129 billion yuan, up 24.72% year-on-year, and a net profit of 9.050 billion yuan, up 35.52% year-on-year. Q2 2025 revenue was 49.163 billion yuan, a year-on-year increase of 28.68% and a quarter-on-quarter increase of 29.49% [52][60]. 4. **Analog Chips** - The analog chip sector reported H1 2025 revenue of 24.502 billion yuan, up 13.16% year-on-year, with a net profit of 5.03 billion yuan, up 280.46% year-on-year. Q2 2025 revenue was 13.582 billion yuan, reflecting a year-on-year increase of 17.66% and a quarter-on-quarter increase of 24.38% [4][39]. 5. **Semiconductor Packaging and Testing** - The semiconductor packaging and testing sector achieved H1 2025 revenue of 45.864 billion yuan, up 18.73% year-on-year, with a net profit of 1.542 billion yuan, up 3.50% year-on-year. Q2 2025 revenue was 23.967 billion yuan, a year-on-year increase of 14.28% and a quarter-on-quarter increase of 9.46% [4][39]. 6. **Integrated Circuit Manufacturing** - The integrated circuit manufacturing sector reported H1 2025 revenue of 55.129 billion yuan, up 19.37% year-on-year, with a net profit of 2.814 billion yuan, up 44.65% year-on-year. Q2 2025 revenue was 27.857 billion yuan, reflecting a year-on-year increase of 16.14% and a quarter-on-quarter increase of 2.14% [4][39].

Group 1 - The core viewpoint of the articles highlights Jiangfeng Electronics' strong performance in the sputtering target materials market and its growing presence in the semiconductor precision components sector, maintaining a "buy" rating [1][2][3] - In the first half of 2025, the company reported revenue of 2.095 billion yuan, a year-on-year increase of 28.71%, and a net profit attributable to shareholders of 253 million yuan, up 56.79% year-on-year [1] - The gross margin decreased to 29.72%, down 1.27 percentage points year-on-year, primarily due to pressure on the precision components business [1] Group 2 - The company plans to raise up to 1.948 billion yuan through a private placement, with significant investments in semiconductor key components and global expansion [2] - A major project includes an investment of approximately 1.1 billion yuan to produce 5,100 integrated circuit equipment electrostatic chucks, addressing domestic supply shortages [2] - Another investment of 350 million yuan is aimed at establishing a production base in South Korea for ultra-pure metal sputtering targets, enhancing localized service capabilities for international clients [2] Group 3 - The ultra-pure metal sputtering target segment achieved revenue of 1.325 billion yuan in the first half of 2025, reflecting a year-on-year growth of 23.91% [3] - The semiconductor precision components segment generated revenue of 459 million yuan, with a year-on-year increase of 15.12%, driven by the introduction of new electrostatic chucks [3] - The market for electrostatic chucks is projected to reach 2.424 billion USD by 2030, with current domestic localization rates below 10%, indicating significant growth potential for the company [3]

Investment Rating - The investment rating for Jiangfeng Electronics is "Buy" (maintained) [1] Core Views - Jiangfeng Electronics is positioned as a global leader in sputtering targets and is making strides in the precision components sector, aiming for domestic leadership. The company reported a revenue of 2.095 billion yuan for H1 2025, representing a year-on-year increase of 28.71%, and a net profit of 253 million yuan, up 56.79% year-on-year. The gross margin is at 29.72%, down 1.27 percentage points year-on-year, while the net margin increased by 3.29 percentage points to 11.12% [4][6]. Financial Performance Summary - For H1 2025, Jiangfeng Electronics achieved revenue of 2.095 billion yuan, a 28.71% increase year-on-year, and a net profit of 253 million yuan, reflecting a 56.79% year-on-year growth. The gross margin was 29.72%, down 1.27 percentage points, while the net margin improved to 11.12%, up 3.29 percentage points [4][6]. - The company has adjusted its profit forecasts for 2025-2026 and added a new forecast for 2027, expecting net profits of 528 million yuan, 654 million yuan, and 854 million yuan for 2025, 2026, and 2027 respectively [4][6]. Business Development - Jiangfeng Electronics is expanding its production capabilities with a planned fundraising of up to 1.948 billion yuan. This includes a project to produce 5,100 integrated circuit equipment electrostatic chucks, addressing the domestic supply shortage of high-end electrostatic chucks, and a 350 million yuan investment in South Korea to establish a production base for ultra-high purity metal sputtering targets [5][6]. - The company reported that its ultra-high purity metal sputtering targets generated revenue of 1.325 billion yuan in H1 2025, a 23.91% increase year-on-year, while the precision components segment achieved revenue of 459 million yuan, up 15.12% year-on-year [6]. Market Outlook - The market for electrostatic chucks is projected to reach 2.424 billion USD by 2030, with current domestic localization rates below 10%. Jiangfeng Electronics is expected to lead in achieving mass production breakthroughs in this area [6]. - The company is well-positioned to benefit from the expansion of wafer fabs and increased equipment investments, particularly in the context of domestic substitution and import restrictions [6]. Valuation Metrics - The current stock price corresponds to a price-to-earnings (P/E) ratio of 41.4 for 2025, 33.4 for 2026, and 25.6 for 2027 [4][6]. - The projected revenue for 2025 is 4.462 billion yuan, with a year-on-year growth of 23.8%, and the net profit is expected to reach 528 million yuan, reflecting a 31.8% increase [7].

证券日报网讯8月28日晚间，江丰电子（300666）发布公告称，公司于2025年8月28日在公司会议室召开 公司2025年第一次职工代表大会，经与会职工代表审议和表决，会议选举郑立丁先生为公司第四届董事 会职工代表董事，任期与公司第四届董事会任期一致。 ...