Core Viewpoint - The stock price of Jiangsu Yake Technology Co., Ltd. has increased by 12.59% over the last three days, reaching 85.31 CNY per share, with a total market capitalization of 40.601 billion CNY [1] Company Overview - Jiangsu Yake Technology Co., Ltd. was established on October 29, 1997, and went public on May 25, 2010. The company is located in Yixing Economic Development Zone, Wuxi, Jiangsu Province [1] - The main business areas include research, production, and sales of electronic materials, LNG insulation materials, and flame retardants. The revenue composition is as follows: semiconductor chemical materials and photoresists 49.23%, LNG insulation composite materials 27.13%, LNG engineering installation 7.91%, electronic specialty gases 4.56%, LDS equipment 3.17%, flame retardants 3.15%, spherical silica powder 2.99%, and other businesses 1.88% [1] Fund Holdings - Jin Yuan Shun An Fund has a significant holding in Yake Technology, with the Jin Yuan Shun An Baoshi Power Mixed Fund (620001) holding 34,200 shares, unchanged from the previous period, accounting for 4.61% of the fund's net value [2] - The fund has realized a floating profit of approximately 143,000 CNY today, with a total floating profit of 310,200 CNY during the three-day price increase [2] Fund Manager Performance - The fund manager, Kong Xiangpeng, has been in position for 8 years and 107 days, with a total fund asset size of 131 million CNY. The best fund return during his tenure is -0.87%, while the worst is -11.58% [3] - Co-manager, Shang Changceng, has been in position for 1 year and 350 days, managing assets of approximately 40.586 million CNY, with the best return of 15.23% and the worst return of -0.02% during his tenure [3]

融券方面，艾森股份9月30日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年90%分位水平，处于高位。 责任编辑：小浪快报 9月30日，艾森股份涨2.82%，成交额2.03亿元。两融数据显示，当日艾森股份获融资买入额2075.50万 元，融资偿还4247.97万元，融资净买入-2172.47万元。截至9月30日，艾森股份融资融券余额合计2.10 亿元。 截至6月30日，艾森股份股东户数6397.00，较上期增加6.32%；人均流通股8641股，较上期减少5.94%。 2025年1月-6月，艾森股份实现营业收入2.80亿元，同比增长50.64%；归母净利润1678.20万元，同比增 长22.14%。 融资方面，艾森股份当日融资买入2075.50万元。当前融资余额2.10亿元，占流通市值的7.23%，融资余 额超过近一年90%分位水平，处于高位。 分红方面，艾森股份A股上市后累计派现1712.92万元。 资料显示，江苏艾森半导体材料股份有限公司位于江苏省昆山市千灯镇中庄路299号，成立日期2010年3 月26日，上市日期2023年1 ...

9月30日，雅克科技涨1.17%，成交额18.70亿元。两融数据显示，当日雅克科技获融资买入额2.49亿 元，融资偿还2.15亿元，融资净买入3370.62万元。截至9月30日，雅克科技融资融券余额合计11.30亿 元。 融资方面，雅克科技当日融资买入2.49亿元。当前融资余额11.18亿元，占流通市值的3.18%，融资余额 超过近一年90%分位水平，处于高位。 融券方面，雅克科技9月30日融券偿还2.24万股，融券卖出2300.00股，按当日收盘价计算，卖出金额 16.96万元；融券余量16.08万股，融券余额1186.22万元，超过近一年90%分位水平，处于高位。 截至6月30日，雅克科技股东户数5.40万，较上期增加5.29%；人均流通股5899股，较上期减少5.02%。 2025年1月-6月，雅克科技实现营业收入42.93亿元，同比增长31.82%；归母净利润5.23亿元，同比增长 0.63%。 分红方面，雅克科技A股上市后累计派现11.56亿元。近三年，累计派现7.52亿元。 机构持仓方面，截止2025年6月30日，雅克科技十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股1646.40 ...

截至6月30日，艾森股份股东户数6397.00，较上期增加6.32%；人均流通股8641股，较上期减少5.94%。 2025年1月-6月，艾森股份实现营业收入2.80亿元，同比增长50.64%；归母净利润1678.20万元，同比增 长22.14%。 分红方面，艾森股份A股上市后累计派现1712.92万元。 责任编辑：小浪快报 融资方面，艾森股份当日融资买入2819.56万元。当前融资余额2.31亿元，占流通市值的8.21%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，艾森股份9月29日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年90%分位水平，处于高位。 资料显示，江苏艾森半导体材料股份有限公司位于江苏省昆山市千灯镇中庄路299号，成立日期2010年3 月26日，上市日期2023年12月6日，公司主营业务涉及电子化学品的研发、生产和销售业务。主营业务 收入构成为：电镀液及配套试剂45.37%，电镀配套材料29.31%，光刻胶及配套试剂21.91%，其他(补 充)3.04%，其他电子化学品0.37%。 9月29日 ...

9月23日，艾森股份涨0.04%，成交额1.94亿元。两融数据显示，当日艾森股份获融资买入额3737.17万 元，融资偿还2975.65万元，融资净买入761.53万元。截至9月23日，艾森股份融资融券余额合计2.50亿 元。 融资方面，艾森股份当日融资买入3737.17万元。当前融资余额2.50亿元，占流通市值的9.04%，融资余 额超过近一年90%分位水平，处于高位。 融券方面，艾森股份9月23日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量0.00股，融券余额0.00元，超过近一年90%分位水平，处于高位。 资料显示，江苏艾森半导体材料股份有限公司位于江苏省昆山市千灯镇中庄路299号，成立日期2010年3 月26日，上市日期2023年12月6日，公司主营业务涉及电子化学品的研发、生产和销售业务。主营业务 收入构成为：电镀液及配套试剂45.37%，电镀配套材料29.31%，光刻胶及配套试剂21.91%，其他(补 充)3.04%，其他电子化学品0.37%。 截至6月30日，艾森股份股东户数6397.00，较上期增加6.32%；人均流通股8641股，较上期减少5.94 ...

Company Overview - Jiangsu Yake Technology Co., Ltd. is located in Yixing Economic Development Zone, Wuxi, Jiangsu Province, and was established on October 29, 1997. The company went public on May 25, 2010. Its main business involves the research, production, and sales of electronic materials, LNG insulation boards, and flame retardants [1]. Business Segmentation - The revenue composition of the company is as follows: - Semiconductor chemical materials, photoresists, and supporting reagents account for 49.23% - LNG insulation composite materials contribute 27.13% - LNG engineering installation makes up 7.91% - Electronic specialty gases represent 4.56% - LDS equipment is 3.17% - Flame retardants account for 3.15% - Spherical silica micro powder is 2.99% - Other businesses contribute 1.88% [1]. Stock Performance - On September 12, Yake Technology's stock rose by 5.01%, reaching a price of 61.58 CNY per share, with a trading volume of 925 million CNY and a turnover rate of 4.84%. The total market capitalization is 29.308 billion CNY [1]. Fund Holdings - In terms of fund holdings, one fund under Invesco Great Wall has a significant position in Yake Technology. The Invesco Great Wall CSI 500 Industry Neutral Low Volatility Index A (003318) held 151,300 shares in the second quarter, representing 1% of the fund's net value, making it the fifth-largest holding. The estimated floating profit from this position is approximately 444,800 CNY [2]. Fund Performance - The Invesco Great Wall CSI 500 Industry Neutral Low Volatility Index A (003318) was established on March 3, 2017, with a current scale of 824 million CNY. Year-to-date, it has achieved a return of 11.42%, ranking 3,564 out of 4,222 in its category. Over the past year, the return is 39.07%, ranking 2,849 out of 3,800, and since inception, the return is 61.76% [2]. Fund Management - The fund manager of the Invesco Great Wall CSI 500 Industry Neutral Low Volatility Index A (003318) is Zeng Li, who has been in the position for 6 years and 337 days. The total asset size of the fund is 4.158 billion CNY, with the best return during his tenure being 74.31% and the worst being -16.62% [3].

Investment Rating - The investment rating for the company is "Buy" with a previous rating of "Buy" as well [2] Core Views - The report highlights the company's robust revenue growth in the first half of 2025, driven by the expansion of its electronic materials business, and maintains a "Buy" rating [2][6] Financial Performance - In the first half of 2025, the company achieved revenue of RMB 4.293 billion, a year-on-year increase of 31.82%, and a net profit attributable to shareholders of RMB 522.79 million, a slight increase of 0.63% year-on-year [9][10] - The second quarter of 2025 saw revenue of RMB 2.175 billion, up 32.76% year-on-year, while the net profit attributable to shareholders decreased by 4.06% to RMB 262.52 million [11] Revenue Breakdown - The electronic materials segment generated revenue of RMB 2.573 billion in the first half of 2025, reflecting a year-on-year growth of 15.37% [9] - The LNG insulation board segment reported revenue of RMB 1.165 billion, a significant increase of 62.34% year-on-year [9] Profitability Metrics - The company's gross margin for the first half of 2025 was 31.82%, down 2.34 percentage points year-on-year, while the net margin was 13.29%, down 3.00 percentage points year-on-year [9] - The company expects net profits for 2025-2027 to be RMB 11.83 billion, RMB 15.36 billion, and RMB 19.40 billion respectively, with corresponding earnings per share of RMB 2.49, RMB 3.23, and RMB 4.08 [6][14] Market Position - The company is positioned as a leading supplier in the domestic display photoresist industry, with ongoing development of key raw materials for color photoresists [9] - The report notes the establishment of dual R&D departments in China and South Korea to enhance the development of advanced semiconductor materials [9] Future Outlook - The company is optimistic about the continued expansion of its electronic materials business and maintains its "Buy" rating based on strong growth prospects [2][6]

Company Overview - Jiangsu Yake Technology Co., Ltd. is located in Yixing Economic Development Zone, Wuxi, Jiangsu Province, established on October 29, 1997, and listed on May 25, 2010 [1] - The company specializes in the research, production, and sales of electronic materials, LNG insulation materials, and flame retardants [1] Financial Performance - For the first half of 2025, Yake Technology achieved operating revenue of 4.293 billion yuan, a year-on-year increase of 31.82%, and a net profit attributable to shareholders of 523 million yuan, a year-on-year increase of 0.63% [2] - Since its A-share listing, the company has distributed a total of 1.004 billion yuan in dividends, with 600 million yuan distributed in the last three years [3] Stock Performance - As of September 11, Yake Technology's stock price increased by 2.03% to 57.79 yuan per share, with a total market capitalization of 27.504 billion yuan [1] - Year-to-date, the stock price has risen by 0.17%, with a 2.63% increase over the last five trading days, a 2.23% increase over the last 20 days, and an 11.22% increase over the last 60 days [1] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 54,000, with an average of 5,899 circulating shares per person, a decrease of 5.02% from the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder, holding 16.464 million shares, a decrease of 3.0642 million shares from the previous period [3]

Core Viewpoint - The report highlights the continuous supervision of Jiangsu Aisen Semiconductor Materials Co., Ltd. by Huatai United Securities during its initial public offering and listing on the Sci-Tech Innovation Board, emphasizing the company's competitive position and financial performance amidst industry challenges [1]. Group 1: Company Overview - Jiangsu Aisen focuses on the research, production, and sales of electronic chemicals, particularly in the semiconductor materials sector, and has established itself as a leading domestic supplier [5][6]. - The company has transitioned from a follower to a leader in the electroplating liquid and supporting reagents market, achieving competitive product performance that meets international standards [6]. Group 2: Competitive Risks - The company faces core competitiveness risks due to increasing competition from domestic manufacturers in advanced packaging technology, necessitating continuous technological updates and product development to maintain market share [1][2]. - The reliance on high-performance products and the lengthy certification process for new products pose challenges for large-scale industrialization, potentially impacting future revenue [2][3]. Group 3: Financial Performance - For the first half of 2025, the company reported a significant increase in revenue, with operating income reaching 279.89 million yuan, a 50.64% increase compared to the same period in 2024 [4]. - The net profit attributable to shareholders was 13.74 million yuan, reflecting a growth of 22.14% year-on-year, while the net cash flow from operating activities improved significantly [4][5]. Group 4: Research and Development - The company maintains a high level of R&D investment, accounting for 10.87% of operating income in the first half of 2025, to ensure technological leadership and innovation [4][8]. - Several R&D projects are progressing well, with the company applying for 10 new invention patents in the first half of 2025 [8]. Group 5: Market Position and Future Outlook - The company aims to expand its market share in advanced packaging and wafer manufacturing, with plans to enhance its product offerings and solidify its position as a key supplier in these sectors [7]. - The semiconductor industry is experiencing rapid growth driven by demand from consumer electronics and other sectors, providing a favorable environment for the company's expansion [3][4].

Core Viewpoint - The company's 1H25 performance met expectations, with significant revenue growth driven by electronic materials and LNG business segments [1][3]. Financial Performance - In 1H25, the company achieved revenue of 4.293 billion yuan, a year-on-year increase of 31.82%, and a net profit attributable to shareholders of 523 million yuan, a year-on-year increase of 0.63% [1]. - For Q2 2025, revenue reached 2.175 billion yuan, up 32.76% year-on-year and 2.71% quarter-on-quarter, while net profit was 263 million yuan, down 4.06% year-on-year but up 0.86% quarter-on-quarter [1]. - The increase in operating expenses led to profit growth lagging behind revenue growth, with sales, management, and R&D expenses rising by 19.82%, 27.96%, and 46.88% respectively [1]. - The net cash flow from operating activities surged by 1,458.82% year-on-year to 290 million yuan, attributed to improved sales collection efficiency and inventory management [1]. Business Segments - The electronic materials segment showed steady growth, with semiconductor chemical materials and photoresists revenue increasing by 19%, accounting for 49% of total revenue [2]. - The LNG business segment experienced substantial growth, with revenue from LNG insulation composite materials and engineering installation accounting for 35% of total revenue, driven by strong demand for LNG transport vessels [3]. - Revenue from LNG insulation materials and engineering installation grew by 689% and 193% respectively, with a notable increase in gross margin for engineering installation [3]. Profit Forecast and Valuation - The profit forecasts for 2025 and 2026 remain unchanged at 1.164 billion yuan and 1.504 billion yuan respectively, with the current stock price corresponding to 24.3 times the 2025 earnings and 18.8 times the 2026 earnings [4]. - The target price is maintained at 81.3 yuan, reflecting a potential upside of 37% based on 33.3 times and 25.7 times the earnings for 2025 and 2026 respectively [4].