登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002428 证券简称：云南锗业 公告编号：2026-006 云南临沧鑫圆锗业股份有限公司2025年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、本期业绩预计情况 1、业绩预告期间：2025年1月1日至2025年12月31日。 2、业绩预告情况：预计净利润为正值且属于同向下降50%以上情形 单位：万元 ■ 二、与会计师事务所沟通情况 本次业绩预告未经会计师事务所审计。公司已就业绩预告有关事项与年报审计会计师事务所进行了预沟 通，公司与会计师事务所在本报告期的业绩预告方面不存在重大分歧。 三、业绩变动原因说明 1、报告期内，随着国内低轨通信卫星组网的推进，光伏级锗产品需求增加，该产品销量同比大幅增 加；本期光通信市场景气度提升，公司化合物半导体材料磷化铟产品销量增加；本期光纤级锗产品、红 外级锗产品（镜头、光学系统）订单量增加使得销量同比增加。在产品价格及成本变动方面，报告期 内，受原材料市场平均价格上涨的影响，使得材料级锗产品、光纤级锗产品、光伏级锗产品、红外级锗 产品（毛坯及镀膜镜 ...

格隆汇1月30日丨云南锗业(002428.SZ)公布，预计2025年归属于上市公司股东的净利润1,500万元～ 2,200万元，比上年同期下降71.75%～58.57%，扣除非经常性损益后的净利润-1,350万元～-680万元。 报告期内，随着国内低轨通信卫星组网的推进，光伏级锗产品需求增加，该产品销量同比大幅增加；本 期光通信市场景气度提升，公司化合物半导体材料磷化铟产品销量增加；本期光纤级锗产品、红外级锗 产品（镜头、光学系统）订单量增加使得销量同比增加。在产品价格及成本变动方面，报告期内，受原 材料市场平均价格上涨的影响，使得材料级锗产品、光纤级锗产品、光伏级锗产品、红外级锗产品（毛 坯及镀膜镜片）和化合物半导体材料的销售均价及单位成本均较上年同期上升，但单位成本的增长大于 销售价格的增长。上述产品的销量、价格以及成本的变动使得公司本期营业收入增加但综合毛利率下 降。 ...

（文章来源：每日经济新闻） 每经AI快讯，1月30日，云南锗业(002428.SZ)公告称，预计2025年净利润为1500万元—2200万元，同比 下降58.57%—71.75%。报告期内，受原材料市场平均价格上涨的影响，使得材料级锗产品、光纤级锗 产品、光伏级锗产品、红外级锗产品（毛坯及镀膜镜片）和化合物半导体材料的销售均价及单位成本均 较上年同期上升，但单位成本的增长大于销售价格的增长。上述产品的销量、价格以及成本的变动使得 公司本期营业收入增加但综合毛利率下降。 ...

Core Viewpoint - The company, Yunnan Germanium (002428), plans to enhance its competitiveness by focusing on the development and market expansion of photovoltaic-grade germanium products and compound semiconductor materials while increasing the sales volume and proportion of deep-processed products [1] Group 1 - The company aims to improve its existing germanium products while also investing in research and development for photovoltaic-grade germanium and compound semiconductor materials [1] - The strategy includes increasing the sales volume and market share of deep-processed products to gradually shift the company's focus towards deep processing [1] - This approach is intended to strengthen the company's overall competitiveness in the market [1]

Group 1 - The company, Yunnan Ge Industry, held an institutional research meeting on January 14, 2026, in Kunming, attracting 12 institutions including Ming Shi Partners Fund and CITIC Securities [1] - The company’s Vice General Manager and Board Secretary, Jin Hongguo, along with the Securities Affairs Representative, Zhang Xinchang, engaged with institutional investors during the meeting [1] Group 2 - The company has applied for export licenses in compliance with national regulations regarding export controls, with some orders already approved for export [2] - The domestic price of indium phosphide has remained stable, with increasing demand driven by the growing optical communication market [3] Group 3 - The company plans to establish a new production line for gallium arsenide with a construction period of 18 months, aiming for an annual output of 700,000 six-inch wafers [4] - The company initiated a project for space solar cell-grade germanium wafers in March 2025, targeting an annual production capacity of 1.25 million wafers by the end of 2025 [5] Group 4 - The company sources germanium concentrate primarily from domestic lead-zinc mines and is actively expanding its resource reserves through acquisitions and exploration [6] - The company is coordinating with clients to determine the production plan for germanium wafers in 2026, with relevant data to be disclosed in the 2025 annual report [6]

Group 1: Company Overview and Future Directions - Yunnan Zhenye plans to enhance its competitiveness by increasing the sales and proportion of deep-processed products while continuing to develop gallium arsenide and indium phosphide materials [3] - The company does not produce raw materials like arsenic, gallium, phosphorus, and indium, sourcing all necessary materials from external suppliers [3] Group 2: Product Quality and Market Position - The yield rate of the company's compound semiconductor materials is gradually improving, which is crucial for reducing manufacturing costs [3] - The company’s compound semiconductor materials are primarily used by epitaxial production manufacturers or device manufacturers with their own epitaxial production capabilities [10] Group 3: Pricing and Market Strategy - Product pricing is determined based on market principles, considering factors such as order volume and market conditions [5] - The company’s solar-grade germanium products are currently priced steadily, with specific prices for 2026 to be determined based on order agreements [10] Group 4: Industry Competition and Trends - The domestic competitors in the solar-grade germanium substrate market include Beijing Tongmei and Nanjing Zhongzhe [6] - The germanium market is competitive, with prices influenced by supply and demand dynamics; prices saw a rapid increase in Q3 2024 but have been gradually adjusting since [8] Group 5: Revenue and Financial Impact - The revenue from compound semiconductor materials accounts for approximately 10% of the company's total revenue [10] - The company is actively seeking to expand its germanium resource reserves through acquisitions and exploration [10]

Group 1: Company Overview and Production Plans - Yunnan Ge Industry focuses on enhancing its deep processing product sales and market share to strengthen its overall competitiveness [3] - The company plans to produce 86.67 million solar battery-grade germanium wafers in 2025, with 49.66 million wafers expected in the first half of the year [9] - A new project for space solar battery-grade germanium wafers aims for an annual production capacity of 250 million wafers by the end of 2025 [9] Group 2: Resource Management and Supply Chain - The company recycles germanium waste from its production processes and utilizes waste slag to extract germanium metal [3] - Domestic sources primarily supply the germanium ore, with no overseas mines owned by the company [3] - The company actively seeks to expand its germanium resource reserves through acquisitions and exploration [8] Group 3: Market Trends and Product Demand - The demand for germanium wafers is driven by the rapid growth of commercial satellite networks, particularly for low-orbit communications [6] - The phosphide indium market is stable, with increasing demand from the optical communication sector [6] - The company maintains strong relationships with downstream customers in the phosphide indium market, ensuring consistent supply and market development [4] Group 4: Competitive Landscape - Major competitors in the phosphide indium market include Sumitomo Electric Industries and AXT, which possess strong R&D capabilities and market presence [4] - The company’s subsidiary, Yunnan Xinyao Semiconductor Materials Co., has established a solid supply chain with long-term partnerships [4] Group 5: Future Developments - The company is set to establish a high-quality gallium arsenide wafer production line with a capacity of 700,000 six-inch wafers, expected to be operational within 18 months [5] - The company is monitoring annual demand for germanium wafers and will disclose production plans in its 2025 annual report [9]

Core Viewpoint - Yunnan Germanium (002428.SZ) produces photovoltaic-grade germanium products, primarily used in solar germanium wafers for solar cells, which are known for their high photoelectric conversion efficiency and stable performance, particularly in aerospace applications such as satellites [1] Company Summary - The company's photovoltaic-grade germanium products are specifically designed for solar cell production [1] - Solar germanium cells are characterized by high efficiency and stability, making them suitable for use in spacecraft [1]

Core Viewpoint - Yunnan Ge Industry stated that the sales price of its photovoltaic-grade germanium products remains stable, determined by market principles and various factors [2] Group 1 - The company's product pricing is based on market principles and is negotiated with customers considering specifications, models, technical parameters, order volume, supply cycle, and market conditions [2]

Market Demand and Product Applications - The demand for indium phosphide (InP) chips has significantly increased due to the rising prosperity of the downstream optical communication market [2][3] - InP chips are primarily used in laser and detector chips within optical modules, with applications in 5G communication, data centers, and wearable devices [3] - Gallium arsenide (GaAs) chips are utilized in RF devices, laser devices, and high-brightness LEDs, serving sectors such as mobile phones, computers, communication bases, and autonomous driving [3] Production Capacity and Growth - The company currently has a production capacity of 300,000 pieces/year for 4-inch solar-grade germanium wafers and 200,000 pieces/year for 6-inch wafers [4] - A project to increase production capacity to 1.25 million pieces/year by the end of 2025 is underway, with a long-term goal of reaching 2.5 million pieces/year [4] - The solar-grade germanium product segment has seen substantial growth due to the increasing demand for space solar cells linked to the rise in satellite launches [4][5] Recent Performance and Future Plans - The photovoltaic-grade germanium product segment has experienced significant growth, driven by the demand for commercial low-orbit communication satellites [5] - The compound semiconductor materials segment has also seen increased demand due to the improved market conditions in optical communication [5] - The company has no current plans to expand indium phosphide production capacity, but will disclose any future plans as required [8] Export Control and Resource Management - All main products of the company are subject to export controls, and the company has complied with regulations to obtain necessary export licenses [10] - The company is actively seeking to increase its resource reserves through acquisitions and exploration [11] Strategic Development Focus - The company aims to enhance its competitiveness by focusing on deep processing of products and expanding the market for compound semiconductor materials [12]