智通财经APP讯，鼎龙股份(300054.SZ)发布公告，为深化公司在创新材料领域的全球化战略布局，加速 海外业务拓展进程，提升公司品牌国际影响力和综合竞争力，同时搭建国际化资本运作平台，增强境外 融资能力，助力公司高质量可持续发展，不断深化和拓展在半导体材料、面板显示材料及更多高技术创 新材料应用领域的竞争实力，公司目前正在筹划境外发行股份(H股)并在香港联合交易所有限公司(以下 简称"香港联交所")上市事项。 ...

格隆汇1月14日｜鼎龙股份公告，公司目前正在筹划境外发行股份（H股）并在香港联合交易所有限公 司上市事项。公司正在与相关中介机构就本次H股发行上市的具体推进工作进行商讨，相关细节尚未确 定。本次H股发行上市不会导致公司控股股东和实际控制人发生变化。 ...

Core Viewpoint - Dinglong Co., Ltd. is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy in innovative materials, accelerate overseas business expansion, and improve its international brand influence and competitiveness [1] Group 1: Strategic Goals - The company aims to deepen its global strategic layout in the innovative materials sector [1] - The initiative is intended to boost the company's overseas business development and enhance its international brand influence [1] - The move is also focused on building an international capital operation platform to strengthen overseas financing capabilities [1] Group 2: Market Focus - Dinglong Co., Ltd. is looking to enhance its competitive strength in semiconductor materials, display panel materials, and other high-tech innovative material applications [1] Group 3: H-share Issuance Details - The company is currently in discussions with relevant intermediaries regarding the specifics of the H-share issuance and listing process [1] - The details of the H-share issuance and listing are not yet finalized [1] - The H-share issuance will not result in changes to the company's controlling shareholder or actual controller [1]

人民财讯1月14日电，鼎龙股份（300054）1月14日公告，公司目前正在筹划境外发行股份(H股)并在香 港联交所上市事项。公司正在与相关中介机构就此次H股发行上市的具体推进工作进行商讨，相关细节 尚未确定。 ...

证券代码：300054 证券简称：鼎龙股份 公告编号：2026-004 债券代码：123255 债券简称：鼎龙转债 湖北鼎龙控股股份有限公司 关于筹划发行H股股票并在香港联合交易所有限公司 上市的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完 整，没有虚假记载、误导性陈述或者重大遗漏。 湖北鼎龙控股股份有限公司（以下简称"公司"或"鼎龙"）是国内领先 的关键大赛道领域中各类核心创新材料的平台型公司，目前已有多系列创新材 料产品深度渗透国内市场并规模销售，是国内集成电路制造用 CMP 抛光垫产品 供应龙头，同时布局 CMP 抛光液、清洗液等集成电路关键材料并实现市场销 售；在柔性显示材料 YPI、PSPI 领域占据国内供应领先地位，深度布局半导体 KrF/ArF 晶圆光刻胶和先进封装材料业务。随着公司创新材料业务实力不断提 升，以及在国内市场的成功拓展，公司已将创新材料业务向海外拓展作为下一 阶段的重点发力方向，从而提升公司客群规模及经营业绩，通过加大加速海外 投资布局，努力把鼎龙打造成具有全球性竞争力的创新材料公司。 为深化公司在创新材料领域的全球化战略布局，加速海外业务拓展进程， 提升公 ...

Core Viewpoint - Dinglong Co., Ltd. has shown a significant increase in stock price and financial performance, indicating potential growth in the semiconductor and electronic materials sector [1][2]. Group 1: Stock Performance - On January 14, Dinglong's stock price increased by 2.09%, reaching 44.38 CNY per share, with a trading volume of 422 million CNY and a turnover rate of 1.31%, resulting in a total market capitalization of 42.043 billion CNY [1]. - Year-to-date, Dinglong's stock has risen by 18.03%, with a 1.00% decline over the last five trading days, a 14.03% increase over the last 20 days, and a 32.08% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Dinglong achieved a revenue of 2.698 billion CNY, representing a year-on-year growth of 11.23%, and a net profit attributable to shareholders of 519 million CNY, reflecting a year-on-year increase of 38.02% [2]. - Since its A-share listing, Dinglong has distributed a total of 476 million CNY in dividends, with 141 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of December 10, 2025, Dinglong had 38,000 shareholders, an increase of 5.56% from the previous period, with an average of 19,385 circulating shares per shareholder, a decrease of 5.26% [2]. - Major shareholders include Hong Kong Central Clearing Limited, holding 34.0799 million shares, and E Fund's ChiNext ETF, holding 14.5743 million shares, both showing a decrease in holdings compared to the previous period [3].

Core Viewpoint - The article discusses the rapid growth and investment opportunities in the advanced packaging materials sector, highlighting the potential for domestic companies to replace foreign imports in critical areas of technology [7][8]. Market Overview - The global market for advanced packaging materials is projected to reach $2.032 billion by 2028, with the Chinese market expected to grow to 9.67 billion yuan by 2025 [8]. - Specific segments such as conductive adhesives are forecasted to reach $3 billion by 2026, while chip bonding materials are estimated to grow from approximately $4.85 billion in 2023 to $6.84 billion by 2029 [8]. Competitive Landscape - Key foreign players in the advanced packaging materials market include Fujifilm, Toray, and Dow, while domestic companies such as 鼎龙股份 (Dinglong Co.), 国风新材 (Guofeng New Materials), and 三月科 (Sanyue Technology) are emerging as significant competitors [8]. - The article lists various advanced packaging materials and their respective market sizes, indicating a competitive landscape where domestic firms are increasingly gaining market share [8]. Investment Strategies - Different investment stages in the new materials industry are outlined, emphasizing the importance of team assessment, industry analysis, and market entry strategies at each phase [10]. - The article suggests that the A-round financing stage presents lower risks and higher returns, as companies at this stage typically have established sales channels and are experiencing rapid growth [10]. Future Trends - The article identifies 14 critical advanced packaging materials that are essential for the semiconductor industry, indicating a significant opportunity for investment and development in these areas [7][8]. - The anticipated growth in the new materials sector is driven by technological advancements and the need for domestic alternatives to imported materials, particularly in high-tech industries [7][8].

Core Viewpoint - The advanced packaging market is experiencing significant growth driven by the increasing demand for AI and computing power, leading to a supply-demand imbalance in the global advanced packaging market, which is projected to reach approximately $45 billion in 2024, accounting for about 55% of the total semiconductor packaging market [2]. Market Growth - The global advanced packaging market is expected to grow to around $80 billion by 2030, with a compound annual growth rate (CAGR) of 9.4% from 2024 to 2030, becoming a core component in the value upgrade of the semiconductor industry [2]. - The Chinese advanced packaging market is predicted to reach approximately 39.9 billion RMB in 2022, with a CAGR of about 15%, significantly higher than the global average growth rate, indicating a "blue ocean" market potential [2]. Key Materials Demand - DAF films and underfill materials are essential in packaging processes, with DAF films used to connect chips to substrates and underfill materials widely applied in FC and BGA packaging processes to ensure reliability and stability [3]. - The Chinese DAF film market is expected to exceed 1 billion RMB by 2026, with a CAGR exceeding 12% [3]. - The global underfill market is projected to grow at a CAGR of 10.48%, reaching $721 million in 2024 and surpassing $1.443 billion by 2031, with China's market performance expected to exceed the global average [3]. Domestic Market Landscape - The DAF film and underfill markets are currently dominated by foreign companies, with domestic firms like Debang Technology, Yonggu Technology, and others just beginning to enter the DAF film market [5]. - Debang Technology is leading in domestic production, with its underfill materials solutions continuously improving and achieving small batch deliveries by mid-2025 [9]. - Other domestic companies, such as Hans New Materials and Yonggu Technology, are also making strides in the underfill product line, with Hans focusing on chip packaging adhesives [13]. Production Capacity - Debang Technology has achieved small batch deliveries of DAF products, while other companies like Yonggu Technology have limited production capacity for DAF films [13]. - The emerging player, Juting Xincai, is expected to enhance local supply chain convenience and contribute to the localization of advanced packaging materials, aligning with the explosive growth in computing power demand [13].

以下为研究报告摘要： 投资要点： 电子板块观点：英伟达于CES2026全面展示Rubin平台，通过六款芯片组件的极致协同，其生成token的 成本将降低至上一代Blackwell的约1/10，目前该平台已全面量产。台积电12月合并营收约3350.03亿元 新台币，同比增长20.4%，超市场预期，全年营收同比增长31.6%创历史新高，体现出半导体行业需求 端的全面复苏。当前电子行业需求持续复苏，供给有效出清，存储芯片价格上涨，我国国产化力度超预 期。建议关注AI算力、AIOT、半导体设备、关键零部件和存储涨价等结构性机会。 英伟达于CES2026全面展示Rubin平台，通过六款芯片的极致协同，其生成token的成本将降低至上一代 的约1/10，目前该平台已全面量产。1月6日至9日，2026年美国拉斯维加斯消费电子展举办，英伟达 CEO黄仁勋发布了英伟达首个采用极致协同设计、集成六款芯片的AI平台Rubin，并首次公开了六款芯 片的详细性能参数。凭借Rubin平台，生成token的成本将降低至上一代的约1/10，可降低大规模AI部署 成本。Rubin平台组件涵盖Rubin GPU、Vera CPU、NVLink6 ...

Core Viewpoint - The article discusses the rapid growth and investment opportunities in the advanced packaging materials sector, highlighting the potential for domestic companies to replace foreign imports in critical areas of technology [7][8]. Market Overview - The global market for advanced packaging materials is projected to reach $2.032 billion by 2028, with the Chinese market expected to grow to 9.67 billion yuan by 2025 [8]. - Specific materials such as PSPI, epoxy resin, and conductive adhesives are identified as key growth areas, with significant market sizes and growth rates anticipated [8]. Investment Opportunities - The article outlines various advanced packaging materials and their respective market sizes, including: - PSPI: $528 million in 2023, expected to grow significantly [8]. - Conductive adhesives: projected to reach $3 billion by 2026 [8]. - Chip bonding materials: expected to grow from approximately $485 million in 2023 to $684 million by 2029 [8]. - The investment landscape is characterized by a shift towards domestic production, with numerous Chinese companies emerging as competitors to established foreign firms [7][8]. Industry Trends - The article emphasizes the trend of domestic substitution in advanced materials, particularly in sectors heavily reliant on imports from countries like Japan [7][8]. - It highlights the importance of innovation and collaboration among domestic companies to enhance competitiveness in the global market [21]. Strategic Insights - Different investment stages in the new materials industry are discussed, with a focus on the varying risk levels and investment strategies appropriate for each stage, from seed funding to pre-IPO [10]. - The article suggests that the current market conditions present a favorable environment for investment in advanced materials, particularly for companies that can demonstrate strong growth potential and market positioning [10].