【私募调研记录】宁泉资产调研盛美上海

Group 1 - The core viewpoint of the article highlights that Ningquan Asset has conducted research on a listed company, Shengmei Shanghai, focusing on its overseas market expansion and performance outlook [1] - Shengmei Shanghai emphasizes its commitment to technological differentiation and a global customer strategy, expressing confidence in increasing its overseas market sales share [1] - The company has raised its addressable market in China to $7 billion, based on the assumption of a $40 billion semiconductor equipment market size by 2030 [1] Group 2 - In the second quarter, Shengmei Shanghai reported nearly 40% revenue growth, driven by strong equipment sales and robust demand [1] - The company maintains its full-year performance guidance, with contract liabilities reflecting prepayments after product commissioning acceptance [1] - Differences in financial reporting are attributed to varying accounting standards, and the existing capacity at the Lingang plant is sufficient to support the annual performance guidance, with plans for additional capacity next year [1]