公司参股企业深圳远见智存科技有限公司聚焦高带宽存储芯片（HBM）领域，目前HBM2/2e产品已完 成终试，正推动量产和升级；HBM3/3e处于研发阶段，已完成前期预研和部分设计工作。公司参股企业 科睿斯半导体科技（东阳）有限公司主营ABF载板相关业务，产品用于CPU、GPU、AI及车载等高算力 芯片的封装，项目一期已投产、当前进展顺利。公司参股企业合肥鑫丰科技有限公司专注于存储芯片封 测领域，为客户提供封装与测试一体化服务。 ...

Core Viewpoint - The company, Deep Technology, is a leading player in the high-end storage chip packaging and testing industry in China, leveraging its technological and process capabilities to meet increasing market demands [1][4]. Group 1: Technological Capabilities - The company has a well-established technology and process system, which is crucial for high-end storage chip packaging due to high technical barriers in design, multi-layer stacking, and testing software and hardware coordination [1]. - Deep Technology possesses a skilled R&D and engineering team with mature capabilities in multi-layer stacking packaging, fine welding, and thermal optimization, along with in-house software development for customized testing solutions [3]. Group 2: Production Capacity and Expansion - Currently, the production lines in Shenzhen and Hefei are operating at full capacity, and the company is planning to expand production in response to increasing customer orders [4]. - The company is closely monitoring key customers' business dynamics and is strategically planning its long-term capacity layout based on industry trends and market demand [4]. - The expansion process will be managed to ensure product quality and delivery stability while gradually increasing new capacity [4]. Group 3: Market Outlook - Industry experts believe that the recovery in the storage industry and a new round of technological upgrades will benefit the high-end storage chip packaging segment, with increasing demand for reliable domestic packaging capacity from downstream customers [4]. - Deep Technology's expansion in its packaging bases, combined with its technological and customer resource advantages, is expected to further solidify its leading position in the domestic high-end storage chip packaging sector [4].

Summary of the Conference Call on Huicheng Co., Ltd. and New Wind Technology Company and Industry Overview - **Company**: New Wind Technology, a company established in 2019, focuses on DRAM packaging and testing, with a complete capability from wafer testing to packaging testing [2][5][6] - **Industry**: The memory chip market, particularly DRAM, is the largest chip market globally, with China's demand exceeding 600 billion RMB [2][8] Key Points and Arguments Shareholding Structure and Control - Huicheng and its partners hold approximately 57% of New Wind Technology, with Huicheng directly holding 18.44% and indirectly holding 27.5% through funds [2][3] - Recent transactions involved Huicheng purchasing 18.44% of shares for 90.48 million RMB and acquiring an additional 44.57% from existing major shareholders, totaling 63.01% of shares transferred [3] Future Plans and Financing - New Wind plans to initiate 400 to 500 million RMB in equity financing and 100 to 200 million RMB in bank debt financing by Q4 2025 to support capacity expansion [3][14] - The company aims to increase its production capacity from 20,000 wafers per month in 2025 to 40,000 in 2026 and ultimately to 100,000 to 120,000 by 2027 [6][10] Market Position and Customer Base - New Wind's primary customer is Changxin Storage, which is expected to increase its production capacity from 250,000 wafers per month to 400,000 by 2026 [8] - The company aims to become one of the top suppliers to Changxin, leveraging its close relationship and geographical advantages [8][11] Technological Advantages - New Wind has significant advantages in 3D DRAM packaging, excelling in key metrics such as flatness, hole size, and warpage [2][11] - The company is also expanding into customized UFS products and 3D CUBE products, targeting a market size expected to reach hundreds of billions [12] Revenue Growth Potential - If New Wind captures 20% of the domestic DDR and LPDDR packaging market, it could generate an additional 1.65 billion RMB in revenue [13] - The company is expected to achieve significant growth through capacity expansion and the introduction of high-value-added products [13] Strategic Partnerships - Huicheng has signed a strategic cooperation agreement with Huadong Technology to jointly develop storage chip packaging services, enhancing competitiveness in the DRAM packaging market [3][26] Competitive Landscape - New Wind is one of only five companies in China capable of 3D DRAM packaging, positioning it favorably against competitors [8][19] - The company is focused on optimizing its processes and maintaining a competitive edge in the evolving 3D DRAM market [19] Future Outlook - The storage industry, particularly the DRAM sector, is expected to experience prolonged demand due to the rise of AI technologies, which will increase the need for high-end storage solutions [21] - New Wind's expansion plans and strategic partnerships are anticipated to contribute positively to its long-term growth and market position [22][31] Other Important Insights - New Wind's current production capacity is fully utilized, and while it is expanding, it has not yet reached economies of scale, which may delay profitability [23] - The company does not currently plan to consolidate with Huicheng but will continue to operate independently while benefiting from strategic synergies [15][22]

Core Viewpoint - Changdian Technology (600584) reported a significant growth in its storage business, with revenue increasing by over 150% year-on-year in the first half of the year [1] Company Summary - The company provides packaging and testing services for various storage chip products, including DRAM and Flash [1] - The strong performance in the storage business indicates a robust demand for semiconductor packaging and testing services [1]