Core Viewpoint - The semiconductor industry has become a strategic high ground in global power competition, with a focus on achieving breakthroughs in key core technologies during the 14th Five-Year Plan period in China [1] Group 1: Company Overview - Aisen Co., Ltd. has developed into a core supplier of electronic chemicals in the advanced packaging and wafer manufacturing sectors over 15 years since its establishment in 2010 [2] - The company has achieved full domestic substitution of traditional packaging electroplating solutions and has developed a complete product matrix for advanced packaging [2][3] Group 2: Product Development and Market Position - Aisen's products cover the entire semiconductor industry chain, achieving significant breakthroughs in applications such as integrated circuits and OLED displays [3] - The company has successfully broken the long-standing monopoly of American and Japanese firms in the PSPI photoresist market, with small-scale production currently underway [3][4] - Aisen has established a strong market presence in advanced packaging photoresists, becoming the only domestic supplier and filling a significant gap in the market [4] Group 3: Research and Development - The company has significantly increased its R&D investment, with R&D expenses reaching 45.9 million yuan in 2024, a 40.42% increase from 2023, accounting for 10.62% of revenue [5][6] - Aisen's R&D team consists of highly qualified professionals, with 38.66% of employees dedicated to R&D as of mid-2025 [5] - The company has filed 49 invention patents related to photoresists, with 21 granted, indicating a strong focus on innovation and technology [4][5] Group 4: Financial Performance - In the first half of 2025, Aisen's revenue reached 280 million yuan, a year-on-year increase of 50.64%, driven by core technology breakthroughs and product optimization [6] - The company anticipates continued revenue growth as it focuses on high-end applications in electroplating and photoresist materials for processes at 28nm and below [6][7] Group 5: Market Trends and Future Outlook - The advanced packaging market in China is projected to reach 69.8 billion yuan in 2024, with a penetration rate of 40%, indicating strong growth potential [6] - Aisen's strategic acquisition of a stake in Malaysian chemical company INOFINE positions it well for future growth in the Southeast Asian market [7]
半导体国产替代提速！艾森股份“光刻胶+电镀液”双线突破