【私募调研记录】汇杰达理调研路维光电

Group 1 - The core viewpoint of the article highlights the strong demand in the downstream market, which has led to an increase in the demand for photomasks, with production orders extending into the third quarter [1] - The company is operating near full capacity and is accelerating its investment pace to address the low domestic photomask localization rate, with multiple expansion projects underway [1] - The semiconductor project is planned in two phases, with the first phase aiming to deliver samples of 90-100nm process node products by mid-2025 and trial production of 40nm process node products by the second half of 2025 [1] - The company plans to build two high-precision photomask production lines and invest 2 billion yuan in Xiamen to establish a high-generation high-precision photomask production base, targeting a domestic market share of over 30% [1] - Expansion projects include two semiconductor photomask production lines covering 250nm-130nm process node products [1]