Core Viewpoint - The company Bertly has achieved a high level of localization for its key components in the context of escalating China-U.S. trade tensions, with most products' chips being domestically sourced, except for the main chip of the WCBS product which is still imported [1] Group 1 - The localization rate for chips in the company's products is predominantly high, with the exception of the main chip for WCBS which is sourced from abroad [1] - The electric motors and electromagnetic valves used in the company's products have been fully localized [1]

Core Viewpoint - The company, Shengmei Shanghai, is focusing on continuous innovation in semiconductor cleaning equipment and aims to expand its overseas market presence while benefiting from the global semiconductor industry's recovery [1][3]. Group 1: Company Performance and Financials - Shengmei Shanghai's revenue for 2024 is projected to reach 5.618 billion yuan, with a net profit of 1.153 billion yuan, reflecting a year-on-year growth of 26.65%, although the profit growth rate is slowing [1]. - In Q1 of this year, the company achieved a net profit of 246 million yuan, which is approximately a twofold increase year-on-year [1]. Group 2: Product Development and Innovation - The company is advancing its PECVD, Track, and furnace tube equipment lines, with significant growth expected in LPCVD, oxidation furnaces, and ALD equipment by 2025 [1]. - The Track equipment features a differentiated platform design that meets high output and low maintenance cost requirements, with ongoing efforts to optimize supply chain channels for stable component supply [2]. - The newly developed 300WPH Track beta prototype for KrF processes is expected to enter client validation by the end of June 2025 [2]. - The company’s supercritical CO drying cleaning equipment is at a world-leading level, with a projected 50% reduction in CO usage compared to foreign counterparts, significantly lowering customer consumable costs [2]. Group 3: Market Strategy and Expansion - Shengmei Shanghai is leveraging its dual listing in A-shares and U.S. markets to enhance its competitive advantage through technology differentiation, product platformization, and global customer outreach [3]. - The company has received attention from multiple international clients for its differentiated core equipment [3]. - The company plans to raise 4.482 billion yuan through a private placement to fund R&D, process testing platform construction, and high-end semiconductor equipment development [3].