Ge Long Hui A P P·2025-12-05 06:37Group 1 - The core viewpoint of the article highlights that Jingce Electronics is continuously advancing its front-end measurement equipment for advanced processes, which opens up growth opportunities [1] - The company has officially delivered its defect detection equipment for the 14nm advanced process node, with acceptance and related work progressing smoothly [1] - Key products in the semiconductor front-end measurement field, including thickness measurement series, OCD equipment, and electron beam equipment, have completed delivery and acceptance for the 7nm advanced process, with more advanced products currently under validation [1] Group 2 - Looking ahead, the proportion of advanced process front-end measurement equipment in the company's overall revenue and orders is expected to increase, becoming a core driver of the company's performance [1] - The company is also advancing its layout in the semiconductor back-end electrical measurement field, with its subsidiary Wuhan Jinghong planning to implement capital increase and expansion [1] - Benefiting from ongoing investments in OLED production lines, the display testing business is expected to develop steadily [1] Group 3 - Based on the DCF valuation method, a target price of 75.39 yuan is set, maintaining a "buy" rating [1]