2025年12月25日，我国半导体封装材料产业骨干企业江苏华海诚科新材料股份有限公司（以下简称"华 海诚科"，证券代码：688535）发布公告，华海诚科发行股份、可转换公司债券及支付现金购买资产并 募集配套资金实施情况中，新增股份已上市、可转换公司债券登记已完成，且已完成对交易对方现金对 价的支付，华海诚科成功完成了对衡所华威电子有限公司（以下简称"衡所华威"）70%股权的收购。 收购方华海诚科成立于2010年12月，位于连云港市经济技术开发区，是一家专注于半导体芯片封装材料 的研发及产业化的国家级专精特新"小巨人"企业，主营产品包括环氧塑封料与电子胶黏剂，广泛应用于 半导体封装、板级组装等应用场景。华海诚科作为我国半导体封装材料产业骨干企业，已发展成为我国 规模较大、产品系列齐全、具备持续创新能力的环氧塑封料厂商，在半导体封装材料领域构建了完整的 研发生产体系并拥有完全自主知识产权，并结合下游封装产业的技术发展趋势，对先进封装用环氧塑封 料提前布局开展研发工作，已通过部分客户验证。 标的公司衡所华威是一家从事半导体芯片封装材料研发、生产和销售的国家级专精特新"小巨人"企业， 是国家863计划成果产业化基地、 ...

报告期内，其环氧塑封料业务规模在内资厂商中的排名稳步提升至第二，部分中高端产品已实现对日系竞品的替代。 12月5日，江苏半导体封装材料企业中科科化科创板IPO获受理。 中科科化成立于2011年10月，注册资本为6600万元，法定代表人是卢绪奎，控股股东是北京科化，无实际控制人。 当前我国半导体封装材料的国产化率仍然较低，中科科化是少数具备中高端环氧塑封料产品自主研发和规模化生产能力的内资厂商。 | 序号 | | 募集资金投资项目 | 项目投资总额 | 拟使用募集资金 金额 | | --- | --- | --- | --- | --- | | | 半导体封装用中高 | 1.1 半导体封装用中高端环 氧塑封料产业化项目 | 42, 000. 00 | 42, 000. 00 | | | 端环氧塑封料研发 及产业化项目 | 1.2 半导体封装用中高端环 氧塑封料研发中心建设项目 | 9, 800. 00 | 9, 800. 00 | | 2 | 补充流动资金 | | 8, 000. 00 | 8, 000. 00 | | | 合计 | | 59, 800. 00 | 59, 800. 00 | 01 年收入超3亿 ...

公司CEO胡博博士毕业于哈尔滨工业大学，研究材料领域超15年，曾做过大量烧结银、导电胶等材料的研 究。芯源新材料材料研发部门由十余名博士和硕士以及多位实验员组成，已成功研制车规级烧结银产品、 通讯级烧结银产品、光电封装导热银胶、集成电路用热界面材料"等系列产品。 凭借着多年对产品的打磨，芯源新材料成为中国唯一实现车规级烧结材料量产上车的企业，产品矩阵已深 度嵌入各大头部车企，每日产品上车量超5000辆，稳居行业龙头。 近日，深圳芯源新材料有限公司（以下简称"芯源新材料"）完成C轮融资，由北京小米智造股*投资基金合 伙企业（有限合伙）独家投资。本轮增资将重点用于碳化硅模块封装材料的精进研发与产业化布局。 芯源新材料成立于2022年，是一家半导体封装材料研发商，专注于电子封装用热界面材料的研发、生产、 销售和技术服务，提供高散热、高可靠的解决方案，产品包括烧结银材料、半烧结导电胶、纳米焊料键合 材料、电磁屏蔽材料等。应用于新能源汽车、射频通讯、智能电网、风电、光伏、光电子等领域。 ...

Industry Overview - The lead frame is a critical chip carrier in semiconductor packaging, connecting internal circuits to external leads, forming the core structure of electrical circuits [1][20] - Lead frames are primarily made from copper alloys and are processed through mechanical stamping or chemical etching to create specific circuit patterns [1][20] - The increasing complexity of chip processes and diverse packaging forms have raised the requirements for lead frames, necessitating smaller sizes, tighter pin spacing, and a wider variety of types [1][20] Market Capacity and Development Trends - The lead frame market is experiencing steady growth, driven by the continuous development of the semiconductor industry [3][22] - Major global manufacturers include Mitsui High-tec, AAMI, SDI, Kang Qiang Electronics, Chang Wah Technology, and HAESUNGDS, with the top ten companies holding about 50% of the market share by 2024 [5][24] - From 2020 to 2024, China's lead frame sales revenue is expected to remain above $1.3 billion, accounting for over 35% of the global market [5][24] Industry Development Trends and Opportunities - Government policies are strongly supporting the rapid development of the domestic semiconductor industry, enhancing international competitiveness and promoting innovation [9][27] - The lead frame market is evolving towards higher density, reliability, and lower costs, driven by the demands of emerging fields such as electric vehicles, IoT, and artificial intelligence [9][28] - The growth of electronic product demand, particularly in smartphones and personal computers, along with the expansion of AI and data centers, presents significant opportunities for semiconductor companies [9][29] Major Companies in the Industry - Key players in the lead frame industry include Mitsui High-tec, Chang Wah Technology, HAESUNGDS, and others, each with unique strengths and market positions [10][30] - Companies like Kang Qiang Electronics and Advanced Assembly Materials International are recognized for their extensive product offerings and technological capabilities in lead frame manufacturing [10][32]

嵩岳巍巍，矗立天地之中，见证着华夏文明的肇始与绵延。 这里曾是夏禹建都之地，开创了华夏第一王朝。 这里因武则天登嵩山、封中岳得名，承载着千年历史荣光。 而今，这座拥有"万山之祖"峻极之姿的古邑，正以"登峰"之志，在新时代的征程中勇攀发展高峰， 书写着县域经济高质量发展的精彩篇章。 当少林寺的晨钟与智能车间的机械声在嵩山山谷交响，当卢崖瀑布的水韵与数字经济的脉动共振， 登封以其独特的攀登者姿态，在古老与现代的融合中，踏出了一条文旅融合、创新驱动、乡村振兴、民 生为本的全面发展之路。 攀登文旅新高峰：从"观光胜地"到"体验殿堂"的升华 深厚的文化家底，是登封攀登文旅新高峰最坚实的基石。这里物华天宝、文脉赓续，坐拥1805处不 可移动文物古迹，以24处26项全国重点文保单位成就"国保第一县"殊荣。8处11项"天地之中"历史建筑 群如珍珠般散落在嵩山脚下，它们不仅是往昔岁月的见证，更是今日登封将文化遗产资源转化为深度体 验项目的无尽源泉。 登封的文旅融合，是一场向着品质高峰的持续攀登。 从少林景区智能售检票系统的上线，到"漫游嵩山"小程序的优化；从中岳庙庙会免门票政策吸引全 国36万人次游览，到全媒体直播观看达240 ...

Group 1 - The storage industry is currently experiencing a super cycle driven by AI, leading to an increase in storage chip prices [1] - Advanced packaging technology is positively impacting the packaging materials supply chain, resulting in both volume and price increases [1] - The overall business operations of the company are benefiting from these industry trends [1]

Core Viewpoint - The semiconductor packaging materials industry is expected to experience a rise in both volume and price driven by advanced packaging and storage demand, with significant opportunities for domestic production [1] Group 1: Epoxy Molding Compound (EMC) - EMC is a key encapsulation material in semiconductor packaging, with low domestic production rates estimated at only 10-20% for high-performance EMC [2] - The price of advanced packaging EMC can be 5-6 times higher than high-performance EMC and over 10 times that of basic EMC [2] - The transition from DRAM to HBM by companies like SK Hynix highlights the increasing demand for advanced EMC technologies [2] Group 2: Silicon Micron Powder - Silicon micron powder is a critical raw material for EMC, with significant procurement shares in companies like Hengsuo Huawai [3] - Low-alpha spherical aluminum effectively addresses challenges in high-density stacked packaging in the storage sector, with low levels of radioactive elements [3] Group 3: Substrate Upstream Materials - Low-CTE electronic cloth is a crucial supply bottleneck in the substrate segment, with lead times extending to 16-20 weeks due to raw material shortages [4] - The global market for carrier copper foil, primarily monopolized by Japanese firms, is valued at approximately 5 billion, with increasing demand driven by AI technology and advanced chip requirements [4] - Domestic supply chain localization is accelerating, which may benefit the domestic replacement process for carrier copper foil [4]

Group 1: Company Overview and Market Position - Xinhenghui's etching lead frame business is experiencing growth due to rising market demand in emerging fields such as 5G, AI, IoT, and automotive electronics [2][3] - Major domestic suppliers of etching lead frames include Xinhenghui, Kangqiang, and Tianshui Huayang, with the domestic localization rate needing further improvement [3] Group 2: Production Capacity and Product Development - The company is implementing a high-density QFN/DFN packaging material industrialization project to enhance technical capabilities and product lines [3] - Continuous investment in potential customers and accelerating the introduction of new clients for mass production is a priority [3] Group 3: Product Applications and Market Trends - Etching lead frames are essential materials for IoT eSIM chip packaging, applicable in mobile phones, wearable devices, and industrial IoT [3] - Future demand for IoT chips is expected to grow as IoT technology expands across various fields, with a focus on high performance, low power consumption, and integration [3][4]

Group 1 - The core point of the news is that 康强电子 (Kangqiang Electronics) experienced a decline of 5.03% in its stock price, reaching 20.02 yuan per share, with a trading volume of 1.02 billion yuan and a turnover rate of 13.31%, resulting in a total market capitalization of 7.513 billion yuan [1] - 康强电子 is located in Ningbo, Zhejiang Province, and was established on June 29, 1992. It was listed on March 2, 2007. The company's main business involves the manufacturing and sales of semiconductor packaging materials, including lead frames and bonding wires [1] - The revenue composition of 康强电子 includes lead frame products at 59.11%, bonding wire products at 23.69%, electrode wire products at 16.36%, and other products at 0.82%, with molds and spare parts contributing 0.02% [1] Group 2 - 国泰中证半导体材料设备主题ETF (Guotai CSI Semiconductor Materials and Equipment Theme ETF) is among the top ten circulating shareholders of 康强电子, having increased its holdings by 1.4853 million shares in the third quarter, totaling 2.6834 million shares, which represents 0.72% of the circulating shares [2] - The estimated floating loss for 国泰中证半导体材料设备主题ETF today is approximately 2.8444 million yuan [2] - The fund was established on July 19, 2023, with a latest scale of 8.299 billion yuan. Year-to-date, it has achieved a return of 48.71%, ranking 666 out of 4217 in its category, and a one-year return of 32.01%, ranking 1118 out of 3918 [2]

Core Viewpoint - The semiconductor packaging materials industry is experiencing steady growth driven by the rapid expansion of downstream power electronics applications, particularly in photovoltaic inverters, energy storage systems, and the three electric systems of new energy vehicles [1] Industry Summary - The current growth in the semiconductor packaging materials sector is primarily attributed to the increasing demands for high-frequency, high-voltage, and high-temperature performance in power devices [1] - The acceleration of artificial intelligence data center (AIDC) infrastructure is significantly increasing the demand for high-efficiency power conversion devices in the power supply and energy storage segments, which will serve as a new growth driver for the semiconductor packaging materials industry [1] Company Summary - The company has established a multi-dimensional competitive advantage in the semiconductor packaging materials field, including vertical integration manufacturing capabilities from materials to structural components [1] - The company specializes in the development of high thermal conductivity and high reliability packaging material systems, evolving from a single packaging material supplier to a comprehensive service provider offering "packaging materials + thermal management structural components + liquid cooling module system solutions" [1] - The company provides full-process support for clients, including material selection, thermal simulation design, process validation, and system assembly [1]