Core Viewpoint - Kema Technology is experiencing strong growth in its semiconductor structural components, driven by increasing customer demand in the semiconductor sector [1] Summary by Category Financial Performance - Revenue from advanced ceramic materials components in the semiconductor equipment sector for H1 2025 is projected to be 437 million yuan, compared to 305 million yuan in the same period of 2024, representing 91.59% and 89.52% of total advanced ceramic materials revenue respectively [1] - Sales revenue for semiconductor structural components reached 279 million yuan in H1 2025, reflecting a year-on-year increase of 66.06% [1] - Revenue from the "function-structure" modular products in the semiconductor sector for H1 2025 is expected to be 158 million yuan, showing a year-on-year growth of 15.66% [1] Strategic Initiatives - The company plans to issue convertible bonds to expand its production of structural functional modular ceramic components [1] Investment Rating - The company maintains a "Buy" rating based on its strong performance and growth prospects in the semiconductor sector [1]
研报掘金丨中邮证券：维持珂玛科技“买入”评级，半导体陶瓷结构件增长强劲