证券代码：603061 证券简称：金海通 公告编号：2026-017 天津金海通半导体设备股份有限公司 关于全资子公司投资建设上海澜博半导体设备 制造中心建设项目的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 投资标的名称：上海澜博半导体设备制造中心建设项目（以下简称"新 建半导体设备制造中心"、"本项目"）； 投资金额：不超过 4 亿元； 已履行的审议程序：本次投资已经天津金海通半导体设备股份有限公 司（以下简称"公司"）2026 年 2 月 11 日召开第二届董事会第二十五次会议 审议通过，本项目在公司董事会的审批权限内，无需提交公司股东会审议。 其它需要提醒投资者重点关注的风险事项： 1、 投资项目审批风险：本次投资项目需获得政府相关部门关于土地使用权、 环境影响评估等事项的审批或备案。若公司未能按预期完成上述审批或备案，可 能导致项目建设进度不及预期，进而对项目投资效益产生不利影响； 2、 投资项目实施进度可能不及预期的风险：公司已对本次投资项目的实施 与管理进行了合理规划和设计，但项目进度安排 ...

Group 1 - Unisplendour Corporation has decided to terminate its plan to issue H-shares and list on the Hong Kong Stock Exchange due to strategic development considerations [2] - Yuandong Biotech is participating in a follow-up procurement for 13 products, with expected sales revenue of approximately 651 million yuan in 2024, accounting for 48.25% of total revenue [3] - Blue Lithium has terminated its participation in the GreenMei Indonesia project due to strategic adjustments by GreenMei, with no significant impact on its operations [4] Group 2 - Jinhaitong plans to invest up to 400 million yuan in the construction of a semiconductor equipment manufacturing center in Shanghai, covering an area of 55,000 square meters [5] - Kaiying Network's subsidiary has signed a settlement agreement with Legend IP, which is expected to positively impact profits by approximately 200 million yuan [6] - Newray plans to acquire 70% of PCB tool company Huilian Electronics for no more than 700 million yuan, enhancing its market position in the PCB tool sector [7] Group 3 - Longbai Group intends to acquire a 5.46% stake in Yunnan Guotai for 234 million yuan [8] - Dawi Technology's Zhangbei data center project is set to be completed by October 2025, primarily providing customized standard data center environments [9] Group 4 - Guobang Electronics reported a net profit of 508 million yuan for 2025, a year-on-year increase of 4.72%, despite a revenue decline of 7.92% [11] - Daotong Technology achieved a net profit of 935 million yuan in 2025, reflecting a significant year-on-year growth of 45.89% [12] - Jingchen Co. reported a net profit of 871 million yuan for 2025, with a growth of 6% year-on-year [13] Group 5 - Qizhou Dongfeng plans to repurchase shares worth between 50 million and 100 million yuan to implement an employee stock ownership plan [17] - Keri Technology's shareholders plan to reduce their holdings by a total of up to 3.13% of the company's shares [19] Group 6 - Roman Co. signed a 260 million yuan contract for a wind power project, with the company’s share of the contract amounting to approximately 190 million yuan [21] - Zhongke Haixun is expected to win projects totaling approximately 288 million yuan [22] - Shan Jian Co. won four construction projects with a total value of 4.834 billion yuan [23]

Group 1 - The core point of the article is that Jinhaitong (603061) plans to invest in a semiconductor equipment manufacturing center in Shanghai, with a total investment not exceeding 400 million yuan [1] - The project will integrate production, research and development, and comprehensive office functions into a single operational center [1] - The construction period for the project is set for 36 months, and funding will be sourced through self-owned funds and bank loans [1] Group 2 - The investment has already been approved by the company's board of directors and does not require shareholder approval [1] - The project is currently in the preliminary preparation stage and will need to undergo relevant approval or filing procedures [1]

Core Viewpoint - The company plans to invest in the "Shanghai Lanbo Semiconductor Equipment Manufacturing Center Project" in Qingpu District, Shanghai, with a total investment not exceeding 400 million yuan [1] Group 1: Project Details - The project will integrate production, research and development, and comprehensive office functions into a production operation center [1] - The construction period for the project is set for 36 months [1] - Funding for the project will be raised through self-owned funds and bank loans in stages [1] Group 2: Approval and Status - The investment has been approved by the company's board of directors and does not require shareholder meeting approval [1] - The project is currently in the preliminary preparation stage and requires relevant approval or filing procedures [1]

Core Viewpoint - The demand for semiconductor packaging and testing equipment is continuously growing, leading to significant sales increases for the company's testing sorting machines [1] Group 1: Company Performance - The company is expected to achieve a net profit attributable to shareholders of 160-210 million yuan in 2025, representing a year-on-year increase of 103.87%-167.58% [1] - The non-recurring net profit attributable to shareholders is projected to be 155-205 million yuan, with a year-on-year increase of 128.83%-202.64% [1] Group 2: Market Demand - The demand for testing sorting machines is driven by advancements in computing power, automotive applications, and advanced packaging [1] - The global System on Chip (SoC) testing machine market is expected to grow from 6.8-6.9 billion USD in 2025 to 8.5-9.5 billion USD in 2026 [1] - The storage testing machine market is projected to increase from 2-2.1 billion USD in 2025 to 2.2-2.7 billion USD in 2026 [1] Group 3: Product Synergy - The demand for sorting machines is expected to rise in tandem with testing machines, particularly in the finished product testing phase [1]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index (950125) decreased by 0.85% as of February 11, 2026, with mixed performance among constituent stocks [1] - The China Securities Semiconductor Materials and Equipment Theme Index (931743) also fell by 0.87%, with Guangli Micro leading gains at 8.99% and Kema Technology experiencing the largest decline at 6.86% [1] - The Sci-Tech Semiconductor ETF (588170) reported a trading volume of 3.92 billion yuan with a turnover rate of 4.81%, while the Semiconductor Equipment ETF Huaxia (562590) had a trading volume of 885.57 million yuan and a turnover rate of 3.23% [1] Group 2 - The Sci-Tech Semiconductor ETF saw a net inflow of 117 million yuan, accumulating a total of 50.67 million yuan over the last five trading days, while the Semiconductor Equipment ETF Huaxia had a net inflow of 3.83 million yuan over the last 22 trading days [2] - According to a report from Winbond Electronics, the DRAM shortage is expected to persist, with memory prices projected to surge by 90% to 95% this quarter, and similar price increases anticipated for the next quarter [2] - China Securities predicts a significant rise in storage product prices in the first quarter of 2026, with a continued upward trend expected throughout the year due to limited new supply and strong demand [2] Group 3 - The Sci-Tech Semiconductor ETF (588170) tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index, focusing on semiconductor equipment (60%) and materials (25%) [3] - The Semiconductor Equipment ETF Huaxia (562590) emphasizes semiconductor equipment (63%) and materials (24%), targeting the upstream semiconductor sector [3] - The semiconductor equipment and materials industry is crucial for domestic substitution, benefiting from low domestic replacement rates and high potential for growth driven by the AI revolution and technological advancements [3]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index (950125) decreased by 0.68% as of February 11, 2026, with mixed performance among constituent stocks [1] - The China Securities Semiconductor Materials and Equipment Theme Index (931743) fell by 0.83%, also showing varied performance among its constituent stocks [1] - The Sci-Tech Semiconductor ETF (588170) experienced a decline of 0.79%, with a latest price of 1.76 yuan, while the Semiconductor Equipment ETF Huaxia (562590) dropped by 0.78%, priced at 1.9 yuan [1] Group 2 - The latest net inflow for the Sci-Tech Semiconductor ETF was 1.17 billion yuan, with a total of 50.67 million yuan accumulated over the last five trading days [2] - In contrast, the Semiconductor Equipment ETF Huaxia had a net inflow of 383.42 million yuan over the last 22 trading days, with 16 days showing net inflows totaling 1.273 billion yuan [2] - SMIC's co-CEO Zhao Haijun indicated that the shift towards localization in the semiconductor industry will have a restructuring effect throughout 2025, with rapid transitions in various segments [2] Group 3 - The Sci-Tech Semiconductor ETF (588170) tracks the Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index, focusing on semiconductor equipment (60%) and materials (25%) [3] - The Semiconductor Equipment ETF Huaxia (562590) emphasizes semiconductor equipment (63%) and materials (24%), targeting the upstream of the semiconductor industry [3] - The semiconductor equipment and materials sector is crucial for domestic substitution, characterized by low domestic replacement rates and high ceilings for domestic alternatives, benefiting from the AI revolution and ongoing technological advancements [3]

Core Viewpoint - China Electronics Technology Blue Sky Technology Co., Ltd. has officially listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with a significant opening price surge of 750% on its first trading day [2] Company Overview - The company was established in October 1992 and specializes in the research, production, sales, and service of electric energy products and systems [2] - It is recognized as a high-tech enterprise, a "Double Hundred" enterprise, and a manufacturing industry champion, offering comprehensive solutions in power generation, energy storage, control, and system integration [2] Financial Highlights - The company issued 1.737 billion shares at a price of 9.47 yuan per share, resulting in a price-to-earnings ratio of 56.79 times [2] - The total funds raised amount to 1.645 billion yuan, which will be fully invested in the "Aerospace Power System Industrialization (Phase I) Construction Project" [2] Industry Context - The construction of the aerospace power system project is progressing rapidly, with the capacity expected to meet the market demand for power systems for 1,000 satellites annually once fully operational [2] - The Binhai High-tech Zone currently hosts nine listed companies on the Shanghai Stock Exchange, with a total market capitalization exceeding 1 trillion yuan [2] - The Binhai High-tech Zone aims to leverage national capital market reforms to enhance the business environment and deepen capital market service capabilities, promoting more technology-driven and innovative enterprises to enter the capital market [2]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [5][12]. Core Insights - The company is experiencing strong growth driven by the increasing demand for semiconductor testing and packaging equipment, particularly for its multi-station testing sorters. The global semiconductor testing equipment sales are projected to surge by 48.1% to $11.2 billion in 2025, with continued growth expected in subsequent years [3][4]. - The company is expected to achieve a net profit attributable to shareholders of between 160 million to 210 million yuan in 2025, representing a year-on-year increase of 103.87% to 167.58% [3]. - The demand for sorting machines is being propelled by advancements in chip architecture, particularly in AI and high-performance computing (HPC) applications, which require rigorous testing processes [4]. Financial Projections - Revenue projections for the company are as follows: 700 million yuan in 2025, 1.3 billion yuan in 2026, and 1.9 billion yuan in 2027, with corresponding net profits of 190 million yuan, 430 million yuan, and 670 million yuan respectively [5][10]. - The company is expected to see significant growth rates in revenue, with increases of 75.12% in 2025 and 82.67% in 2026 [10][11]. - The projected earnings per share (EPS) are expected to rise from 3.12 yuan in 2025 to 11.15 yuan in 2027, reflecting strong profitability growth [10].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [5][12]. Core Insights - The company is experiencing strong growth driven by the increasing demand for semiconductor testing and packaging equipment, particularly in the context of AI and advanced packaging technologies. The global semiconductor testing equipment sales are projected to surge by 48.1% to $11.2 billion in 2025, with continued growth expected in subsequent years [3][4]. - The company's sales of testing sorting machines are expected to significantly increase, with projected net profit for 2025 estimated between 160 to 210 million yuan, representing a year-on-year increase of 103.87% to 167.58% [3][4]. Financial Projections - Revenue projections for the company are as follows: 2025 at 700 million yuan, 2026 at 1.3 billion yuan, and 2027 at 1.9 billion yuan. Corresponding net profits are expected to be 190 million yuan in 2025, 430 million yuan in 2026, and 670 million yuan in 2027 [5][10]. - The company is expected to achieve a gross margin of approximately 51.3% in 2025, with net profit margins increasing to 26.3% by 2025 and further to 35.4% by 2027 [11]. Market Dynamics - The demand for sorting machines is being driven by the complexity of device architectures and the increasing requirements for performance in AI and high-performance computing (HPC) applications. The widespread adoption of Chiplet architecture necessitates rigorous testing processes, further boosting the need for the company's products [4][3]. - The global System on Chip (SoC) testing machine market is anticipated to grow from $6.8-6.9 billion in 2025 to $8.5-9.5 billion in 2026, indicating a robust market environment for the company's offerings [4].