关于苏州珂玛材料科技股份有限公司 申请向不特定对象发行可转换公司债券的审核问询函 中有关财务会计问题的专项说明 容诚专字[2026]215Z0027 号 容诚会计师事务所(特殊普通合伙) 中国·北京 务会计问题的专项说明 容诚专字[2026]215Z0027 号 深圳证券交易所： 贵所出具的《关于苏州珂玛材料科技股份有限公司申请向不特定对象发行 可转换公司债券的审核问询函》（审核函〔2025〕020074 号）（以下简称"问 询函"）的要求，容诚会计师事务所（特殊普通合伙）（以下简称"我们"）对 问询函中提到的需要申报会计师说明或发表意见的问题进行了专项核查。 除另有说明外，本专项核查中的简称或名词的释义与《苏州珂玛材料科技 股份有限公司向不特定对象发行可转换公司债券募集说明书》中一致。 现就《问询函》提出的有关问题向贵所回复如下： | | | 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn ...

证券代码：301611 证券简称：珂玛科技 公告编号：2026-004 苏州珂玛材料科技股份有限公司 关于向不特定对象发行可转换公司债券的审核问询函 回复及募集说明书等申请文件更新的提示性公告 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。 苏州珂玛材料科技股份有限公司（以下简称"公司"）于 2025 年 11 月 14 日收 到深圳证券交易所（以下简称"深交所"）出具的《关于苏州珂玛材料科技股份有限 公司申请向不特定对象发行可转换公司债券的审核问询函》（审核函〔2025〕020074 号）（以下简称"审核问询函"）。深交所对公司报送的向不特定对象发行可转换公司 债券的申请文件进行了审核，并形成审核问询问题。 公司按照审核问询函的要求，会同相关中介机构就问询函中提出的问题进行了 认真研究和逐项落实，对问询函进行了回复和说明，并对募集说明书等申请文件进 行了补充和更新，具体内容详见同日刊登于巨潮资讯网（www.cninfo.com.cn）上的 相关公告。公司将在问询函的回复报告和更新后的申请文件披露后，通过深交所发 行上市审核业务系统报送相关文件。 公司本次向不 ...

关于苏州珂玛材料科技股份有限公司 申请向不特定对象发行可转换公司债券 的审核问询函的回复报告 保荐人（主承销商） （广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座） 二零二六年一月 深圳证券交易所： 根据贵所《关于苏州珂玛材料科技股份有限公司申请向不特定对象发行可转 换公司债券的审核问询函》（审核函〔2025〕020074 号）（以下简称"审核问 询函"）要求，中信证券股份有限公司（以下简称"保荐人"）会同苏州珂玛材 料科技股份有限公司（以下简称"公司"、"珂玛科技"或"发行人"）及容诚 会计师事务所（特殊普通合伙）（以下简称"会计师"或"申报会计师"）、上 海市通力律师事务所（以下简称"律师"或"发行人律师"）等中介机构，按照 贵所的要求对审核问询函中提出的问题进行了认真研究，现逐条进行说明，请予 审核。 说明： 一、如无特别说明，本回复报告中的简称或名词释义与募集说明书中的相同。 二、本回复报告中的字体代表以下含义： | 问询函所列问题 | 黑体（加粗） | | --- | --- | | 对问询函所列问题的回复 | 宋体（不加粗） | | 对募集说明书的引用 | 楷体（不加粗） | | 对募 ...

Group 1: Company Overview - Kema Technology (301611.SZ) focuses on advanced ceramic materials and is a pioneer in breaking foreign monopolies in the semiconductor equipment sector[1] - The company was established in 2009 and is headquartered in Suzhou, Jiangsu, specializing in R&D, manufacturing, and sales of advanced ceramic components[3] Group 2: Market Position - In 2021, Kema Technology accounted for 14% of the total domestic procurement of advanced structural ceramics for semiconductor equipment, with a 72% share among domestic suppliers[9] - The company has established strong ties with major domestic equipment manufacturers and wafer fabs, receiving multiple awards for supplier excellence[11] Group 3: Product Development - Kema Technology is transitioning from traditional structural components to high-difficulty "function-structure" modular products, enhancing its market position[12] - The company has developed over 10,000 customized components based on six major ceramic material systems, achieving international performance standards[7] Group 4: Key Products - The ceramic heater is a core product, with over 1,000 units produced and delivered by mid-2025, significantly impacting wafer manufacturing yield[18] - The company is also advancing in the production of electrostatic chucks and ultra-pure silicon carbide kits, with plans for mass production to meet growing demand[20][22] Group 5: Financial Performance - For the first three quarters of 2025, Kema Technology reported revenue of 790 million yuan, a year-on-year increase of 28.9%, and a net profit of 240 million yuan, up 8.3%[24] - The gross profit from advanced ceramic components accounted for 97% of the total gross profit, highlighting its dominance in the company's revenue structure[31] Group 6: Future Outlook - The company plans to raise up to 750 million yuan through convertible bonds to expand production capacity for modular ceramic components and silicon carbide materials[37] - Kema Technology is also exploring opportunities in non-semiconductor sectors, such as lithium battery materials, to diversify its revenue streams[38]

Core Viewpoint - The future observation of the company will focus on whether more "function-structure" integrated products can achieve mass production and contribute to performance [1][31]. Company Overview - Kema Technology (301611.SZ) specializes in advanced ceramic materials and is a domestic pioneer breaking foreign monopolies in the semiconductor equipment sector [3][4]. - Established in 2009 and headquartered in Suzhou, Jiangsu, the company focuses on the R&D, manufacturing, sales, and service of advanced ceramic components and surface treatment services for semiconductor equipment [4][6]. Material Systems and Product Development - Kema Technology has developed a foundational material system consisting of six types of advanced ceramics: alumina, zirconia, aluminum nitride, silicon carbide, yttrium oxide, and titanium oxide, with over 10,000 customized components designed [6][7]. - The company's products are primarily used in the upstream of semiconductor equipment manufacturing, covering critical processes such as etching, thin film deposition, ion implantation, photolithography, and oxidation diffusion [6][8]. Market Position and Competitive Advantage - Kema Technology holds a leading position in the advanced structural ceramics sector, accounting for 14% of the domestic semiconductor equipment advanced structural ceramics procurement in 2021, and 72% among domestic suppliers [7][8]. - The company has mastered the entire process technology from material formulation to component manufacturing, making it one of the few domestic advanced structural ceramic enterprises certified by international leading semiconductor equipment manufacturers [8][9]. Core Profit Logic - The core profit logic of Kema Technology lies in transitioning from traditional "structural components" to high-difficulty "function-structure" integrated modular products, which drives domestic substitution [10][11]. - The company has shifted focus to critical products such as ceramic heaters, electrostatic chucks, and ultra-pure silicon carbide kits, which are essential in semiconductor manufacturing equipment [11][13]. Key Product Lines - **Ceramic Heaters**: The flagship product, with over 1,000 units produced and delivered by mid-2025, successfully integrated into domestic semiconductor wafer factories and mainstream equipment manufacturers [15][16]. - **Electrostatic Chucks**: The 8-inch electrostatic chuck has completed validation and is in small-scale production, while the 12-inch version has passed validation and is being promoted to end customers [17]. - **Ultra-Pure Silicon Carbide Kits**: Collaborating with Northern Huachuang, the 6-inch non-porous silicon kits have been mass-produced since 2024, with 8-inch products validated and 12-inch components undergoing validation [18][19]. Financial Performance - In the first three quarters of 2025, Kema Technology achieved revenue of 790 million yuan, a year-on-year increase of 28.9%, and a net profit of 240 million yuan, up 8.3% [22][24]. - The third quarter revenue was 270 million yuan, an 18.1% increase year-on-year, but net profit decreased by 16.2% due to increased operating costs and R&D expenses [24][25]. Future Developments - The company has sufficient orders covering approximately three months of sales revenue and plans to raise up to 750 million yuan through convertible bonds to expand production capacity for modular ceramic components and silicon carbide materials [28][29]. - Kema Technology is also actively expanding into non-semiconductor fields, such as lithium battery materials, with a new production line for silicon carbide ceramic rollers launched in 2025 [30].

Core Viewpoint - The lithography machine sector experienced a decline of 0.79%, with significant losses in companies such as Meike Technology, Chipone Microelectronics, and Kema Technology, while some companies like Tengjing Technology, Su Da Weige, and Dazhu Laser saw gains of 20.00%, 3.54%, and 3.48% respectively [1][2]. Group 1: Market Performance - The lithography machine concept ranked among the top decliners in the market, with a drop of 0.79% [1][2]. - The sector saw a net outflow of 1.017 billion yuan, with 36 stocks experiencing net outflows, and 7 stocks exceeding 100 million yuan in outflows [2]. - Zhangjiang Hi-Tech led the outflows with a net outflow of 261 million yuan, followed by Xinlai Materials and Jingfang Technology with outflows of 235 million yuan and 207 million yuan respectively [2]. Group 2: Individual Stock Performance - Tengjing Technology led the gainers in the lithography machine sector with a rise of 20.00%, followed by Su Da Weige and Dazhu Laser with increases of 3.54% and 3.48% respectively [1][5]. - The top decliners included Kema Technology with a drop of 5.31%, Chipone Microelectronics down 5.45%, and Meike Technology down 7.16% [3][4]. - The trading volume for Zhangjiang Hi-Tech was 2.53%, while Kema Technology had a turnover rate of 8.20% [3][4].

Group 1 - The core viewpoint of the news is that Kema Technology's stock has seen a significant increase, with a rise of 5.2% to 141.50 CNY per share, and a total market capitalization of 61.694 billion CNY [1] - Kema Technology, established on April 27, 2009, specializes in the research, manufacturing, sales, and services of advanced ceramic materials and surface treatment services for semiconductor equipment [1] - The company's main revenue sources are from the sales of advanced ceramic components (91.74%), surface treatment services (7.20%), and other sources (0.57%), with metal structural components contributing 0.49% [1] Group 2 - From the perspective of major fund holdings, Kema Technology is a significant investment for the Southern Fund, with the Southern Zhihong Mixed A Fund increasing its holdings by 259,900 shares, now totaling 375,900 shares, representing 2.73% of the fund's net value [2] - The Southern Zhihong Mixed A Fund has achieved a year-to-date return of 10.61% and a one-year return of 43.48%, ranking 1060 out of 8846 and 2746 out of 8091 respectively [2] - The fund manager, Jin Lanfeng, has been in charge for 4 years and 246 days, with the best fund return during this period being 62.87% [3]

Group 1 - The core focus of the news is the significant rise in semiconductor stocks, particularly Kema Technology, which saw a 3.05% increase on January 16, reaching a market capitalization of 60.6 billion yuan, with a cumulative increase of over 159% since December 10, 2025 [1][4]. - Kema Technology specializes in advanced ceramic materials and components for semiconductor equipment, with products like ceramic heaters that meet leading domestic and international technical standards [2][7]. - On January 16, 12 semiconductor material stocks reached historical highs, including Kema Technology, Helin Micro-Nano, Kaide Quartz, Nanda Optoelectronics, and Jiangfeng Electronics [2][7]. Group 2 - The average increase of semiconductor material stocks this year is 21.15%, with several stocks showing significant gains in the previous week [3][8]. - The price of memory chips has surged dramatically, with DDR5 memory prices increasing over 300% and DDR4 memory prices rising over 150% since September 2025 [4][9]. - Analysts predict that the supply shortage of storage chips will persist into 2026, benefiting companies like Micron, which reported stronger-than-expected financial results [4][9].

Company Performance - Kema Technology's stock price has reached a new historical high, with the stock showing a continuous upward trend, having refreshed its historical record on 10 trading days in the past month [2] - As of 09:44, the stock is up 3.10%, priced at 139.14 yuan, with a trading volume of 4.0665 million shares and a transaction amount of 550 million yuan, resulting in a turnover rate of 2.77% [2] - The latest total market capitalization of Kema Technology in A-shares is 60.665 billion yuan, with a circulating market value of 20.396 billion yuan [2] Industry Overview - The electronics industry, to which Kema Technology belongs, has an overall increase of 1.24%, with 310 stocks rising, including Tianyue Advanced, Kaide Quartz, and Kangqiang Electronics, which have increased by 12.77%, 10.20%, and 10.02% respectively [2] - Conversely, 174 stocks in the industry have declined, with Longxin Zhongke, Hanshuo Technology, and Benchuan Intelligent showing declines of 3.38%, 3.15%, and 3.13% respectively [2] Financial Results - According to the company's third-quarter report, Kema Technology achieved an operating income of 794 million yuan in the first three quarters, representing a year-on-year growth of 28.86% [2] - The net profit for the same period was 245 million yuan, reflecting a year-on-year increase of 8.29%, with basic earnings per share at 0.5600 yuan and a weighted average return on equity of 15.04% [2] Margin Trading Data - The latest margin trading balance for Kema Technology as of January 15 is 946 million yuan, with a financing balance of 940 million yuan, which has increased by 80.9232 million yuan over the past 10 days, showing a growth of 9.42% [2]

Core Viewpoint - The lithography machine concept sector has shown a positive performance with a 2.05% increase, ranking 8th among concept sectors, indicating a growing interest and investment in this area [1]. Group 1: Market Performance - The lithography machine concept saw 33 stocks rise, with notable gainers including Baidao Chemical, *ST and Ke, which hit the daily limit, and Su Da Weige, Kema Technology, and Jiangfeng Electronics, which increased by 15.05%, 12.09%, and 6.89% respectively [1]. - The sector experienced a net inflow of 467 million yuan from main funds, with 27 stocks receiving net inflows, and 6 stocks exceeding 50 million yuan in net inflow [2]. - The top net inflow stock was Xinlai Yingcai, with a net inflow of 151 million yuan, followed by Kema Technology, Dazhu Laser, and Baidao Chemical, with net inflows of 146 million yuan, 107 million yuan, and 92.81 million yuan respectively [2]. Group 2: Fund Flow Ratios - Stocks such as *ST and Ke, Jiuri New Materials, and Blue Ying Equipment had the highest net inflow ratios, at 25.29%, 13.92%, and 13.26% respectively [3]. - The top stocks in the lithography machine concept by net inflow included Xinlai Yingcai with a 4.57% increase and a turnover rate of 10.32%, Kema Technology with a 12.09% increase and a turnover rate of 14.61%, and Dazhu Laser with a 4.15% increase and a turnover rate of 3.86% [3][4].