JCET(SH:600584) Xin Lang Cai Jing·2026-01-14 12:35Group 1: Core Business and Technology - Changdian Technology is the largest OSAT manufacturer in mainland China, possessing advanced and comprehensive chip packaging technologies, including wafer-level packaging, 2.5D/3D packaging, system-in-package, flip-chip packaging, wire bonding packaging, and mainstream advanced packaging solutions [1] - The company is accelerating its transformation and optimizing its product structure, with a focus on high-end manufacturing projects in wafer-level packaging, which is expected to gradually improve gross margins and profitability [1] - The company has launched the XDFOI? chiplet high-density multi-dimensional heterogeneous integration series process, which has entered mass production and is applied in high-performance computing, artificial intelligence, 5G, and automotive electronics [1] Group 2: Automotive Sector - The company's product types cover various applications in the automotive sector, including smart cockpits, intelligent networking, ADAS, sensors, and power devices [2] - Changdian Technology is strengthening its industrial ecosystem partnerships and enhancing its one-stop service capabilities, while deepening cooperation with leading domestic and international clients [2] - The company is building an automated production facility for automotive electronics in Shanghai, which is expected to achieve full-process automation from chip packaging to finished product testing by December 2025 [2] Group 3: Memory Sector - The company has over 20 years of experience in memory packaging and is a leader in high-density 3D packaging and control chip testing [3] - The acquisition of Shengdie Semiconductor, a major flash memory packaging and testing factory, enhances the company's capabilities and market share in the enterprise SSD high-end market [3] - The company is focusing on the development of high-density storage products, leveraging synergies across multiple factories [3] Group 4: Financial Projections - Revenue projections for Changdian Technology are estimated to be 40.256 billion, 44.286 billion, and 48.420 billion yuan for the years 2025, 2026, and 2027, respectively, with net profits of 1.642 billion, 2.007 billion, and 2.424 billion yuan [3]