摘要 ： 8.1-8.29日，国内多家科研机构公布刻蚀设备采购中标结果，总金额超千万元，北方华创、矢量科学、SENTECH等企业中标，反映半导体设备需求增长 及市场竞争格局。 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 8.1-8.29日，国内多家科研机构与实验室刻蚀设备采购项目中标结果陆续公布，涉及ICP电感耦合等离子体刻蚀机、低损伤刻蚀设备等多类高 端工艺装备，总金额 超千万元 ，反映出国内微纳加工与半导体领域持续增强的设备需求。 其 中 ， 中 国 科 学 院 上 海 技 术 物 理 研 究 所 采 购 的 " 低 损 伤 电 感 耦 合 等 离 子 体 刻 蚀 槽 像 元 隔 离 设 备 " 由 北 方 华 创 中 标 ， 型 号 HSE M200 ， 金 额 达 366.6万元，北方华创另一套GSE C200型号ICP刻蚀设备也成功中标松山湖材料实验室，金额205万元，显示出其在刻蚀设备市场的强劲竞 争力。 南京大学采购的ICP刻蚀机由矢量科学（Vector Science）中标，型号V-ICP100S，成交金额148.9万元 ...

Core Viewpoint - The recent financial report of Silicon Electric Co., Ltd. (301629) indicates a significant decline in revenue and net profit for the first half of 2025 compared to the previous year, raising concerns about the company's financial health and operational efficiency [1]. Financial Performance - The total revenue for the first half of 2025 was 182 million yuan, a decrease of 36.88% year-on-year [1]. - The net profit attributable to shareholders was 21.36 million yuan, down 62.29% year-on-year [1]. - In Q2 2025, total revenue was 89.24 million yuan, reflecting a 54.21% decline year-on-year, while net profit for the same period was 9.85 million yuan, down 76.89% [1]. - The gross margin was 40.13%, an increase of 3.13% year-on-year, while the net margin fell to 11.69%, a decrease of 40.20% [1]. - Total expenses (selling, administrative, and financial) amounted to 20.62 million yuan, representing 11.36% of total revenue, which is an increase of 117.26% year-on-year [1]. Key Financial Ratios - The return on invested capital (ROIC) for the previous year was 13.28%, indicating strong capital returns [2]. - The historical median ROIC since the company’s listing is 13.78%, suggesting good investment returns [2]. - The company’s cash assets are reported to be very healthy, indicating strong liquidity [2]. Accounts Receivable and Earnings Forecast - The accounts receivable to profit ratio has reached 162.9%, suggesting potential issues with cash flow management [2]. - Analysts expect the company's performance in 2025 to reach 104 million yuan, with an average earnings per share forecast of 2.52 yuan [2]. Product Development and Market Position - The company is the first in China to achieve industrial application of 12-inch wafer probe stations, breaking the monopoly of foreign manufacturers in several semiconductor product areas [3]. - The company is actively advancing equipment validation in the high-end 12-inch IC testing market and plans to enhance cooperation with existing clients while increasing investment in this market segment [3].

格隆汇8月29日丨至纯科技(603690.SH)披露半年报，公司上半年实现营业收入16.08亿元，同比增长 5.25%；归属于上市公司股东的净利润3931.87万元，同比下降46.68%；基本每股收益0.103元。 ...

Core Viewpoint - Baiao Chemical's stock price reached a historical high despite a 40% year-on-year decline in profit, reflecting investor optimism about the company's future, particularly following the appointment of Chen Jie, former president of Tokyo Electron's China division, as vice chairman [2][12]. Group 1: Company Developments - Baiao Chemical announced two key personnel changes: Liu Yan was promoted to general manager, and Chen Jie was elected as a non-independent director and appointed as vice chairman [2]. - The company has made significant acquisitions, including a 46.67% stake in Suzhou Xinhuilian for 700 million yuan and a 10% stake in Suzhou Xinhuilian Chip, marking a notable cross-industry merger in the A-share market [9][27]. - Following the acquisition, Baiao Chemical's market capitalization surged from 3 billion yuan to 12 billion yuan [9]. Group 2: Leadership Background - Chen Jie is recognized as a pioneer in China's semiconductor industry, having played a crucial role in establishing Tokyo Electron's operations in China, which has become a significant player in the global semiconductor market [12][24]. - Liu Hongjun, who co-founded Suzhou Xinhuilian, has extensive experience in the semiconductor sector, having previously worked at Tokyo Electron and led the establishment of its Kunshan manufacturing base [6][19]. Group 3: Industry Impact - The semiconductor industry is experiencing rapid growth, with Suzhou Xinhuilian investing 5 billion yuan to build a semiconductor industrial park in Wuxi, projected to generate an annual output value of 10 billion yuan [22]. - Baiao Chemical aims to leverage its dual focus on chemicals and semiconductors to drive growth, with expectations to complete the acquisition of the remaining 53% stake in Suzhou Xinhuilian soon [27].

Core Viewpoint - TSMC is entering a significant expansion phase for its 2nm process technology, driven by strong demand for AI chips, leading to a substantial investment in etching equipment, which is critical for wafer fabrication [4][6]. Group 1: TSMC's 2nm Expansion - TSMC is making unprecedented investments in expanding its 2nm production capacity due to the rising demand for AI chips from international clients [4][6]. - The etching process is a key step in wafer fabrication, with each high-precision etching machine costing around 3 to 4 million USD (over 100 million TWD), and each 2nm facility requiring more than 100 such machines [6][7]. Group 2: Supplier Competition - TSMC employs a multi-supplier strategy to mitigate risks and achieve cost efficiency, with major suppliers including Tokyo Electron (TEL), Lam Research, and Applied Materials [5][6]. - TEL holds a dominant market share in critical equipment like photolithography and furnace systems, but faces stiff competition in the etching equipment sector [5][6]. Group 3: Equipment Supplier Dynamics - The etching equipment market is characterized by a "three-horse race" among TEL, Lam Research, and Applied Materials, with each company focusing on different segments of the etching process [6][7]. - Suppliers are under pressure to enhance their equipment to meet TSMC's production demands, which is crucial for gaining market share in this competitive landscape [6][7]. Group 4: Confidentiality Breach Incident - A recent incident involving TSMC's etching equipment procurement revealed that engineers from TEL attempted to access confidential data to improve their equipment, leading to legal actions against them [7][8]. - The prosecution emphasizes the severity of the breach, as it threatens Taiwan's semiconductor industry's international competitiveness, with significant penalties sought for the involved individuals [7][8].

公司代码：688627 公司简称：精智达 第一节 重要提示 1.1本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到www.sse.com.cn网站仔细阅读半年度报告全文。 1.2重大风险提示 1.7是否存在公司治理特殊安排等重要事项 □适用 √不适用 第二节 公司基本情况 公司已在本报告中详细描述公司在经营过程中可能面临的各种风险及应对措施，敬请查阅本报告"第三 节 管理层讨论与分析"之"四、风险因素"中相关内容。 1.3本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 1.4公司全体董事出席董事会会议。 1.5本半年度报告未经审计。 1.6董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 单位：元 币种：人民币 ■ 2.3前10名股东持股情况表 2.1公司简介 公司股票简况 ■ 公司存托凭证简况 □适用 √不适用 联系人和联系方式 ■ 2.2主要财务数据 单位: 股 ■ 2.4前十名境内存托凭证持有人情况表 □适用 √不适用 2.5截至报告期末表决 ...

Core Viewpoint - The company reported a significant increase in revenue for the first half of 2025, driven by the successful mass production of advanced process verification equipment, although net profit saw a decline due to high costs associated with new product validation [4][5][6]. Financial Performance - The company achieved an operating revenue of 1.954 billion, representing a year-on-year growth of 54.25% [4]. - The net profit attributable to shareholders was 94 million, a decrease of 26.96% year-on-year, while the net profit excluding non-recurring items was 38 million, showing a substantial increase of 91.35% [4]. Production and Market Expansion - The company’s advanced process verification equipment has successfully passed customer certification and is entering mass production, contributing to rapid revenue growth [5]. - The company is optimizing its customer structure, maintaining strong partnerships with leading domestic wafer manufacturers while successfully onboarding new clients, which has increased market penetration [5]. - As of the end of the first half of 2025, contract liabilities reached 4.536 billion, a growth of 52.07% compared to the end of 2024, indicating a solid foundation for future revenue growth [5]. Profitability Trends - The decline in net profit for the first half of 2025 was primarily due to a significant drop in Q1, attributed to high costs and low gross margins during the customer validation of new products and processes [6]. - However, the company saw a recovery in Q2, with net profit reaching 241 million, a year-on-year increase of 103.37%, and a sequential increase of 388 million from Q1, indicating a notable improvement in performance [6].

据证券之星公开数据整理，近期芯源微（688037）发布2025年中报。截至本报告期末，公司营业总收入 7.09亿元，同比上升2.24%，归母净利润1592.42万元，同比下降79.09%。按单季度数据看，第二季度营 业总收入4.34亿元，同比下降3.47%，第二季度归母净利润1126.42万元，同比下降81.27%。本报告期芯 源微应收账款上升，应收账款同比增幅达33.23%。 本次财报公布的各项数据指标表现一般。其中，毛利率36.26%，同比增5.01%，净利率1.45%，同比减 86.52%，销售费用、管理费用、财务费用总计2.02亿元，三费占营收比28.46%，同比增45.75%，每股净 资产13.49元，同比减24.26%，每股经营性现金流-1.41元，同比减239.08%，每股收益0.08元，同比减 85.45% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 6.94Z | 7.09亿 | 2.24% | | 归母浄利润（元） | 7613.88万 | 1592.42万 | -79.09% | | 扣 ...

Core Viewpoint - Northern Huachuang (002371) reported a revenue increase of 29.51% year-on-year for the first half of 2025, reaching 16.142 billion yuan, while net profit rose by 14.97% to 3.208 billion yuan [1] Financial Performance - Total revenue for Q2 2025 was 7.936 billion yuan, up 21.84% year-on-year, but net profit for the same quarter decreased by 1.47% to 1.627 billion yuan [1] - The company's gross margin was 42.17%, down 7.79% year-on-year, and net margin was 19.83%, down 12.43% [1] - Total operating expenses (selling, administrative, and financial) amounted to 1.605 billion yuan, accounting for 9.94% of revenue, a decrease of 13.46% year-on-year [1] - Earnings per share (EPS) increased by 14.23% to 4.45 yuan, while operating cash flow per share was -4.42 yuan, a significant decrease of 648.65% [1] Balance Sheet and Cash Flow - Accounts receivable rose by 40.01% year-on-year to 7.924 billion yuan, indicating potential liquidity concerns [1] - Interest-bearing debt increased by 134.50% to 13.766 billion yuan, raising questions about financial leverage [1] - The company's cash flow situation is concerning, with a three-year average of operating cash flow to current liabilities at only 9.09% [3] Investment Insights - The company's return on invested capital (ROIC) was 16.44% last year, indicating strong capital returns, but the median ROIC over the past decade was only 7.28% [3] - Analysts expect the company's performance in 2025 to reach 7.511 billion yuan, with an average EPS forecast of 10.6 yuan [3] Fund Holdings - The largest fund holding Northern Huachuang is the Huaxia National Semiconductor ETF, which has increased its position [4] - Other funds, such as the Guolian Anzhong Semiconductor ETF and the Xingquan Business Model LOF, have also adjusted their holdings, indicating varying levels of confidence among institutional investors [4]

证券之星价投圈财报分析工具显示： 据证券之星公开数据整理，近期华海清科（688120）发布2025年中报。根据财报显示，华海清科营收净 利润同比双双增长。截至本报告期末，公司营业总收入19.5亿元，同比上升30.28%，归母净利润5.05亿 元，同比上升16.82%。按单季度数据看，第二季度营业总收入10.37亿元，同比上升27.05%，第二季度 归母净利润2.72亿元，同比上升18.01%。 本次财报公布的各项数据指标表现一般。其中，毛利率46.08%，同比增6.26%，净利率25.92%，同比减 10.33%，销售费用、管理费用、财务费用总计2.23亿元，三费占营收比11.46%，同比增57.02%，每股净 资产29.52元，同比减20.22%，每股经营性现金流1.67元，同比减28.72%，每股收益2.14元，同比增 16.94% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 14.97 亿 | 19.5亿 | 30.28% - | | 归母净利润(元) | 4.33亿 | 5.05亿 | 16.82% ...