Core Viewpoint - The company plans to issue A-shares to specific investors, aiming to raise up to RMB 4.482 billion for R&D, process testing platform construction, high-end semiconductor equipment iteration, and working capital supplementation [1][2]. Financial Impact - The issuance is expected to dilute immediate returns for existing shareholders, with potential impacts on key financial metrics such as earnings per share [3][4]. - The total share capital post-issuance could reach approximately 48.54 million shares, depending on various profit scenarios for 2025 [4][5]. Necessity and Reasonableness of the Issuance - The fundraising is aligned with the company's long-term development strategy and aims to enhance its competitive position in the semiconductor equipment industry [7][8]. - The projects funded by this issuance are closely related to the company's existing business, focusing on R&D and technological advancements [6][9]. Company’s Technological and Market Position - The company has established a strong presence in the semiconductor equipment sector, recognized for its advanced technologies and a comprehensive product line [11][10]. - The company has accumulated significant intellectual property, with 470 patents, enhancing its competitive edge [10]. Measures to Mitigate Dilution of Immediate Returns - The company plans to enhance its overall strength and expand its business scale post-issuance, improving risk resistance and market value [12]. - Internal management will be strengthened to reduce operational costs and improve efficiency [12]. - The company will accelerate the implementation of fundraising projects to achieve expected returns quickly [12][13]. Commitments from Management and Shareholders - The board and senior management have committed to fulfilling the measures to mitigate the dilution of immediate returns, ensuring the protection of shareholder interests [14].

证券代码：688082 证券简称：盛美上海 公告编号：2025-030 盛美半导体设备（上海）股份有限公司 （三）审议通过《关于公司 2024 年度向特定对象发行 A 股股票预案（二次 修订稿）的议案》 会议由监事会主席TRACY DONG LIU女士主持。 二、监事会会议审议情况 （一）审议通过《关于公司符合向特定对象发行 A 股股票条件的议案》 表决情况：3票赞成，占监事人数的100%；0票弃权；0票反对。 （二）审议通过《关于调整公司 2024 年度向特定对象发行 A 股股票方案的 议案》 表决情况：3票赞成，占监事人数的100%；0票弃权；0票反对。 本公司监事会及全体监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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 第二届监事会第十九次会议在中国（上海）自由贸易试验区丹桂路999弄B2栋会 议室举行。本次会议应出席监事3名，实际出席会议的监事3名。全体监事认可本 次会议的通知时间、议案内容等事项，会议的召开符合《中华人民共和国公司法》 《中华人民共和国证券法》等法律法规及《盛美半导体设备（上海）股份有限公 司 ...

官员周三早上表示，乌克兰无人机在夜间发动大规模空袭，袭击了俄罗斯一家军用电子工厂，并扰 乱了莫斯科附近的移动互联网服务。 奥廖尔州州长安德烈·克雷奇科夫表示， "大规模敌方无人机袭击"针对了距乌克兰边境约 200 公里 的博尔霍夫镇，并损坏了博尔霍夫斯基半导体设备厂。 该工厂生产俄罗斯电子战系统零部件，目前受到美国和乌克兰的制裁。克利奇科夫表示，事故中没 有人员伤亡。 俄罗斯国防部称，在莫斯科等九个地区摧毁了 159 架乌克兰无人机。 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容 编译自moscowtimes ，谢谢 。 据 Telegram 新闻频道 Astra 报道，莫斯科、弗拉基米尔和利佩茨克地区的居民报告称，袭击期间 移动互联网中断。 利佩茨克州州长伊戈尔·阿尔塔莫诺夫在Telegram上写道： "出于安全考虑，军方决定暂时切断 （移动互联网服务）。一旦情况允许，我们将尽快恢复。" 克里姆林宫称，总统弗拉基米尔·普京访问库尔斯克地区之际，无人机袭击事件发生，但目前尚不 清楚普京的访问是否与夜间袭击事件同时发生。 与此同时，乌克兰国民近卫军表示，俄罗斯弹道导弹袭击了苏梅边境地区的一个训练基地，造 ...

Group 1 - The core viewpoint of the news is that Tongxiao Investment has conducted research on Shengmei Shanghai, highlighting the company's advancements in three-dimensional stacking electroplating equipment, high-temperature sulfuric acid cleaning equipment, and ALD furnace tube equipment [1] - Shengmei Shanghai's three-dimensional stacking electroplating equipment has achieved commercial validation in most clients in mainland China, while the high-temperature sulfuric acid cleaning equipment offers advantages such as reduced sulfuric acid consumption and elimination of acid mist splashing [1] - The ALD furnace tube equipment can handle temperatures up to 1250°C and has attracted interest from clients in China and Europe, with the company projecting revenue of 6.5 to 7.1 billion by 2025 [1] Group 2 - The company expects strong delivery in the second and third quarters, following a robust first quarter [1] - The overseas market is primarily focused on mainland China, with the panel-level horizontal electroplating equipment winning international awards, and product sales are set to expand globally [1] - The first PECVD equipment verification is progressing well, with more clients expected to validate it by 2025, and the company is open to acquisition opportunities while prioritizing organic growth and technological advantages [1]

Core Viewpoint - The semiconductor industry remains resilient and continues to present investment opportunities, especially in the context of fluctuating market conditions and geopolitical tensions [1][2]. Group 1: Industry Performance - The semiconductor sector in A-shares has shown significant growth and excess returns, with the semiconductor sector's revenue reaching 148.34 billion yuan in Q1 2025, a year-on-year increase of 16.0%, and net profit growing by 35.4% to 9.283 billion yuan [3]. - The semiconductor equipment segment stands out, with revenues of 73.22 billion yuan in 2024 and 17.74 billion yuan in Q1 2025, reflecting year-on-year growth rates of 33% and 37%, respectively [4]. Group 2: Market Dynamics - The current semiconductor equipment cycle appears to be far from over, with inventory levels reaching historical highs of 66.97 billion yuan in Q1 2025, a 27% increase year-on-year, indicating strong demand for equipment [5]. - Domestic semiconductor equipment manufacturers are entering a platform development phase, enhancing their capabilities and product coverage, which opens new growth avenues [5]. Group 3: Growth Opportunities - The semiconductor equipment sector is poised for growth due to increased demand from cloud computing and AI, with North American cloud providers expected to spend 345 billion USD in capital expenditures by 2025, a 37% increase [7]. - The domestic market is also benefiting from a shift towards local equipment due to U.S. export restrictions, with local equipment winning approximately 82% of the bids for new semiconductor production lines [8]. Group 4: Import Dependency - Despite the ongoing push for domestic production, China still relies heavily on imports for semiconductor equipment, with an import dependency rate of 67.7% as of 2024, highlighting the need for continued development of local manufacturers [9][10]. Group 5: Materials Sector - The semiconductor materials market in China is projected to grow significantly, with a market size of 143.78 billion yuan in 2024, a 26.2% increase, and expected to reach 174.08 billion yuan in 2025 [11]. - Domestic material companies have made substantial technological advancements, indicating a growing capability to integrate into the local supply chain [11].

Group 1 - The core viewpoint is that the Hong Kong stock market is currently in a phase of policy support and uncertainty, leading to a rebalancing situation [1] - The AH premium index has dropped to a near four-year low, with southbound capital becoming cautious and even taking profits, indicating a potential market consolidation phase due to technical overbought pressure [1] - The internal fundamentals show a "weak recovery + differentiation" characteristic, with the manufacturing PMI returning to contraction, and both resident and corporate credit demand remaining sluggish [1] Group 2 - The external environment reflects a conflict between "tactical easing" and "strategic encirclement," with the US-China tariff pause boosting risk appetite, but ongoing technology wars and export restrictions creating pressure in critical sectors [1] - Policy measures such as interest rate cuts and consumption loans are aimed at driving domestic demand recovery, particularly in service consumption and commodities [2] - The strategy suggested is to maintain a "defensive counterattack" approach, focusing on high-dividend defensive sectors and consumer sectors benefiting from policy support and events like the e-commerce "618" promotion [2]

穿透市场的三重透镜：基本面、技术与情绪共振 在当今全球经济格局剧烈演变的背景下，投资者正面临前所未有的复杂性与机遇。2025年的市场如同一片暗流涌动的海域，既有黄金阶梯式上行的明确趋 势，也有加密货币与股票指数交织的波动风险。Velos Markets威马证券凭借其全息视角分析工具与多层次数据驱动模型，为专业投资者提供了穿透噪声的金 融罗盘。本文将深入解析其核心投资策略与最新市场动态，帮助投资者在迷雾中锚定方向。 全品类交易平台：构建多元化投资组合的基石 Velos Markets以全品类交易+个性化服务双驱动模式为核心，覆盖外汇、差价合约（CFD）、加密货币及股票指数等多元资产。这种设计如同为投资者提供 了一套完整的金融工具箱——外汇交易可对冲货币波动风险，差价合约能放大商品价格变动的收益杠杆，而加密货币则成为高风险高回报的配置选项。平台 特别强调策略适配性，例如针对保守型投资者，可通过黄金与蓝筹股组合降低波动；而激进策略者则可利用加密货币CFD捕捉短期波段机会。这种灵活性正 是其在国际市场中脱颖而出的关键。 2025下半年关键预测：黄金底部抬升与科技股分化 根据平台最新建模分析，黄金价格底部可能在今年下半 ...

插播： 英诺赛科、能华半导体、致能科技、万年晶半导 体、京东方华灿光电、镓奥科技、鸿成半导体及中科无线半导体等企业已参编《2024-2025 氮化镓（GaN）产业调研 白皮书》，参编咨询请联系许若冰（hangjiashuo999）。 近期，碳化硅领域 动态不断 ，"行家说三代半"关注到，英飞凌、 利普思、 中宜创芯、纳设智能 等 众多国内外碳化硅厂商纷纷晒出最新订单与合作进展，详情请看： 英飞凌： 与汽车厂商 达成SiC合作 英飞凌& Rivian 近日，美国汽车制造商 Rivian 已与英飞凌签约，英飞凌将为"R2"汽车平台提供牵引逆变器电源模块、微控制器和 电源 IC，预计将于 2026 年开始。 其中，电源模块将采用英飞凌的 HybridPack Drive G2 格式（如图所示），包含硅和碳化硅组件。 该封装采用直接液冷，以针状翅片阵列作为散热界面， 热阻通常为0.129°C/W。 利普思半导体： 收获多个SiC订单 近日，据eeNEWS等媒体报道， 英飞凌相继与伟世通、Rivian达成SiC合作，将在车规级应用上搭载SiC技术： 英飞凌& 伟世通 5月，英飞凌已与美国一级供应商伟世通签署协议，共同开 ...

2025年行将过半。虽然全国经济持续稳中向好，但受内部产业结构深度调整以及全球宏观环境不确定性的影 响，一些行业仍在艰难穿越行业周期，从而影响就业大盘。 但与此同时，还有一些行业则在大幅扩张，员工数量持续增长。这些行业大多代表着未来经济的发力方向， 一些甚至取代互联网成为新的就业蓄水池。 为了能够让大家更敏锐地洞悉未来就业方向和行业发展趋势，前瞻经济学人产业观察组根据申万行业分类盘 点了5392家A股上市公司（截至2024年12月底）的员工总数，测算出了正在疯狂增员的十大行业，有不少行 业出人意料。 01 就业新风口 与上一年相比，十大增员行业发生不小变动，但新能源和半导体仍然是增员的主力军。 | 名次 | 行业 | 员工增幅(%) | 代表企业 | 员工增长数量(人) | | --- | --- | --- | --- | --- | | 第一名 | 电动乘用车 | 37.7% | 比亚迪 | 265368 | | | | | 赛力斯 | 2736 | | 第二名 半导体设备 | | 27.9% | 北方华创 | 4344 | | 第三名 | 锂 | 13.0% | 赣管锂业 | 1979 | | | | ...

Core Viewpoint - The company aims to maintain its technological advantage in the competitive renewable energy sector through multi-dimensional strategies including R&D, collaboration, and customer-oriented solutions [1][2]. Group 1: Technological Advantage - The company focuses on core areas to enhance technology iteration, developing high-precision, low-energy consumption power supply equipment [1]. - It aims to optimize power supply performance in key semiconductor processes and explore breakthroughs in third-generation semiconductor manufacturing [1]. - The company is committed to creating customized solutions based on customer needs and establishing a rapid response mechanism for special processes [1]. Group 2: Cost Control and Efficiency - In 2024, the company implemented various measures for cost control, including using standard parts to reduce costs from the design phase [2]. - It has established long-term relationships with suppliers to ensure reasonable procurement costs and optimized manufacturing processes to control costs effectively [2]. - Future plans include further optimizing the cost structure through supply chain collaboration and smart manufacturing upgrades [2]. Group 3: Business Strategy and Growth - The company prioritizes semiconductor and electronic materials as key growth areas, with significant potential for revenue generation [2][6]. - The semiconductor business is expected to grow, with 2024 revenue from this sector reaching 3.5 billion, accounting for 19.69% of total revenue [4]. - The company has set a long-term revenue target of 5 billion within 3-4 years, despite current challenges in the photovoltaic sector [4]. Group 4: Market Opportunities - The company is exploring the hydrogen production sector, which has significant growth potential due to increasing global demand for clean energy [13]. - It is also expanding its presence in traditional industries such as steel metallurgy and glass fiber manufacturing, which may lead to substantial revenue growth [13]. - The company is actively pursuing international market opportunities, with positive sales performance in overseas photovoltaic orders [16]. Group 5: Financial Health and Future Outlook - The company's asset-liability ratio stands at 48.44%, indicating a stable financial position within the industry [12]. - The company is focused on managing accounts receivable and project acceptance to mitigate risks associated with the photovoltaic sector's downturn [18]. - The overall financial risk is considered manageable, with ongoing efforts to enhance revenue recognition and project execution [18].