报告期内，伴随全球半导体设备支出再创新高，以及国内晶圆厂资本开支持续释放，公司所处的半导体 设备精密零部件行业保持高景气。依托深厚的技术积累与生产工艺能力，公司重点产品在客户中的装机 规模不断扩大，在7nm及以下制程设备关键零部件国产化配套方面取得进一步进展。 8月28日晚间，先锋精科(688605)发布了2025年半年度报告。报告期内，公司紧抓国产替代行业机遇， 在半导体设备关键零部件领域持续深耕，实现了稳中有进的经营表现，实现营业收入65,452.22万元，同 比增长19.52%，归母净利润10,619.40万元。 国产设备需求释放，核心客户合作持续深入 2025年上半年，公司持续强化以客户为导向的精密制造能力，不断夯实在刻蚀、薄膜沉积等关键设备零 部件的核心竞争力，保持与主流半导体设备厂商的深度绑定，同时积极拓展医疗、航空航天等高端制造 领域，整体业务呈现健康向上发展态势。 据半年报显示，公司当前共有7类在研项目，覆盖半导体设备关键部件精密机械制造工艺研发、先进制 程关键零部件表面处理工艺开发、集成电路制造设备核心模块焊接工艺开发、面向芯片先进制程的高端 器件设计及开发及半导体光刻机设备精密零部件开发等 ...

Core Viewpoint - The semiconductor equipment components industry is experiencing unprecedented growth opportunities due to increased market demand, accelerated localization processes, and significant investments, which are reshaping the industry landscape [3][10][12]. Group 1: Importance of Semiconductor Equipment Components - Semiconductor equipment components are critical to the performance and reliability of semiconductor devices, encompassing various parts such as O-Rings, EFEMs, RF Generators, and more [4][5]. - These components can be categorized based on functionality (mechanical, material transfer, electrical, vacuum, gas-liquid transport, optical, thermal management, and instrumentation) and standardization levels (precision machined parts and general purchased parts) [5][6]. Group 2: Market Growth and Domestic Demand - The semiconductor industry is witnessing a cyclical recovery, driven by demand from consumer electronics and emerging fields like AI and automotive electronics, leading to increased spending on semiconductor equipment [10]. - The global semiconductor manufacturing equipment sales are projected to reach $117 billion in 2024, a 10% increase from 2023, with Q1 2025 expected to see a 21% year-on-year growth [10][11]. - Domestic semiconductor equipment manufacturers are experiencing rapid growth, with companies like North Huachuang and Zhongwei reporting significant revenue increases of 37.9% and 35.4%, respectively [11][12]. Group 3: Capital Investment in Semiconductor Equipment Components - The semiconductor equipment components sector is attracting significant capital investment, with several companies successfully going public or securing funding [13][14]. - Companies like Blue Motion Precision and Naske have received substantial investments to support their focus on key components for the semiconductor industry [13][14]. Group 4: International Expansion of Component Manufacturers - Chinese semiconductor equipment component manufacturers are actively expanding into overseas markets, with exports expected to reach 37.08 billion yuan in 2024 [15]. - Companies like Fuchuang Precision are successfully increasing their international revenue, with significant growth in both domestic and overseas markets [15].

Core Viewpoint - Chongqing Zhenbao Technology Co., Ltd. has officially submitted its IPO application to the Shanghai Stock Exchange, focusing on providing manufacturing equipment components and surface treatment solutions for the integrated circuit and display panel industries [1] Group 1: Company Overview - Zhenbao Technology specializes in manufacturing vacuum chamber components and surface treatment solutions for the integrated circuit and display panel industries, with main products including silicon, quartz, silicon carbide, and alumina ceramic components [1] - The company has established a comprehensive business platform integrating "raw materials + components + surface treatment," continuously advancing key semiconductor material preparation technologies and surface treatment techniques [1][4] Group 2: Market Position and Partnerships - The company has formed long-term stable partnerships with major domestic integrated circuit and display panel manufacturers, contributing to the upgrade of manufacturing processes and equipment components [2] - Zhenbao Technology's business covers leading domestic storage chip manufacturers and display panel manufacturers, ensuring supply chain security through domestic component substitution [2] Group 3: Product and Technology Development - Zhenbao Technology has achieved mass production of key components such as curved silicon upper electrodes and high-purity silicon carbide rings, supplying advanced process integrated circuits and 3D NAND flash memory chip manufacturing [3] - The company has developed proprietary technologies in the preparation of semiconductor materials and precision processing, establishing a solid foundation for its research and development capabilities [4] Group 4: Fundraising and Future Plans - The company aims to raise 1.398 billion yuan through the IPO to invest in projects related to semiconductor precision components and materials production, as well as R&D center construction [4][5] - The fundraising projects are designed to enhance the company's technological research and development capabilities and will not alter its existing business model [5]