研报掘金丨东兴证券：维持江丰电子“推荐”评级，拟控股凯德石英增强半导体零部件业务核心竞争力

Core Viewpoint - Jiangfeng Electronics is expected to achieve steady growth in performance by 2025 and plans to acquire a controlling stake in Kaide Quartz to enhance its core competitiveness in the semiconductor components business [1] Group 1: Company Overview - After the completion of the transaction, Jiangfeng Electronics will become the controlling shareholder of Kaide Quartz, gaining control over the company [1] - Beijing Kaide Quartz Co., Ltd. specializes in the research, production, and sales of quartz glass products, including quartz instruments, quartz pipelines, and quartz boats [1] Group 2: Industry Position - Kaide Quartz's products are widely used as production consumables in the semiconductor integrated circuit chip field, photovoltaic solar industry, and other sectors [1] - Kaide Quartz is one of the few domestic companies capable of processing quartz glass products for 8 and 12-inch semiconductor integrated circuit chip production lines [1] Group 3: Business Strategy - Jiangfeng Electronics aims to enhance its core competitiveness in the semiconductor components business by integrating leading domestic quartz glass processing resources [1] - The company is a leader in semiconductor target materials, and the acquisition of Kaide Quartz's controlling stake will improve its layout in quartz components [1] Group 4: Financial Projections - The expected earnings per share (EPS) for Jiangfeng Electronics from 2025 to 2027 are projected to be 1.92 yuan, 2.75 yuan, and 3.55 yuan respectively [1]