半导体业务延续增长态势，鼎龙股份前三季度营收净利双增

Core Insights - Dinglong Co., Ltd. reported a revenue of 2.698 billion yuan for the first three quarters of the year, marking an 11.23% year-on-year increase, and a net profit attributable to shareholders of 519 million yuan, up 38.02% year-on-year [1] - The semiconductor business has shown strong growth, with revenue from the semiconductor segment reaching 1.534 billion yuan, a 41.27% increase year-on-year, and its contribution to total revenue rising from 46% to 57% [1] - The CMP polishing pad business achieved sales revenue of 795 million yuan in the first three quarters, reflecting a 52% year-on-year growth, with a record quarterly revenue of 320 million yuan in Q3, up 42% [1] Semiconductor Segment Performance - The semiconductor materials and integrated circuit chip design and application business generated 1.534 billion yuan in revenue, with a significant year-on-year growth of 41.27% [1] - The CMP polishing pads have penetrated core domestic wafer factories and are being promoted in foreign wafer factories, with production capacity expected to reach 50,000 pieces per month by the end of Q1 2026 [2] - CMP polishing liquids and cleaning liquids generated sales revenue of 203 million yuan, a 45% increase year-on-year, with new products undergoing client validation [2] Product Development and Market Expansion - The semiconductor display materials segment achieved sales revenue of 413 million yuan, up 47% year-on-year, with new products in the validation process [2] - The company is actively validating and expanding its advanced packaging materials and high-end wafer photoresist products, with several key models targeting order acquisition in Q4 [3] - The second phase of the 300-ton annual production line for high-end wafer photoresist is set to enter trial operation in Q4 [3]