EBSCN·2025-05-15 11:15Investment Rating - The report maintains a rating of "Increase" for the industry, indicating a positive outlook for investment opportunities in the sector [6]. Core Insights - The demand for ion exchange resins is expanding across various sectors, including semiconductors, nuclear industry, and pharmaceuticals, with a particular focus on leading companies like Bluestar Technology and ZG Co [4][5]. - In the semiconductor sector, ion exchange resins are crucial for producing ultra-pure water, which is essential for the manufacturing of electronic components. The production of a single integrated circuit requires approximately 3 to 5 liters of ultra-pure water, with a 6-inch wafer consuming about 1.2 tons [1]. - In the nuclear industry, ion exchange resins are used in the water treatment systems of reactors, ensuring the provision of high-quality ultra-pure water, which is vital for the stable operation of steam generators [2]. - The pharmaceutical sector utilizes ion exchange resins for the separation and purification of various biopharmaceuticals, including antibiotics and traditional Chinese medicine components, due to their high purity and operational efficiency [3]. Summary by Sections Semiconductor Industry - Ion exchange resins are primarily used in ultra-pure water production for semiconductor manufacturing, with stringent quality requirements as technology advances [1]. Nuclear Industry - The use of nuclear-grade ion exchange resins in reactor water treatment systems is critical for maintaining operational efficiency and reducing fouling in steam generators [2]. Pharmaceutical Industry - Ion exchange and adsorption resins are widely applied in the pharmaceutical industry for the extraction and purification of various drugs, benefiting from their simple operation and high product purity [3]. Company Focus - Bluestar Technology is recognized as a leading domestic player in the adsorption separation materials and technology sector, with a current production capacity of 50,000 tons per year and plans for expansion [4]. - ZG Co is actively investing in the ion exchange and adsorption resin field, with a designed production capacity of 19,750 tons and plans for a new project in Hubei with a total investment of 1 billion RMB [4].