Summary of Huahai Qingshi's Conference Call Company Overview - **Company**: Huahai Qingshi - **Period**: First half of 2025 - **Revenue**: 1.95 billion CNY, up 30.28% YoY - **Net Profit**: 505 million CNY, up 16.28% YoY - **Key Products**: Equipment sales (1.678 billion CNY), wafer foundry, service, maintenance, and consumables (over 200 million CNY) [2][6][7] Core Insights and Arguments - **Production Capacity**: New factory in Beijing has commenced operations, focusing on core equipment such as thinning and wet processing, with capacity gradually being released [2][5][21] - **Expansion Plans**: Accelerated expansion of the wafer regeneration project in Kunshan, aiming for a monthly capacity of 400,000 wafers by Q3 2026 [3][16] - **Strategic Investments**: Completed strategic investment in Suzhou Bohongyuan to build an integrated platform [2][5] - **H Share Issuance**: Actively planning H share issuance to optimize capital structure and accelerate internationalization [2][5][23] Market Performance - **Customer Segmentation**: Increased proportion of new orders from storage clients (54%) compared to logic clients (41%) in advanced packaging [2][10][11] - **Product Development**: Successful batch orders for high-end CMP equipment and other key devices, indicating strong market acceptance [3][12] - **Market Potential**: Anticipated significant growth in the advanced packaging market, with ongoing joint R&D with storage and advanced packaging manufacturers [3][13][15] Financial Performance - **Revenue Composition**: Approximately 1.678 billion CNY from equipment sales, with the remainder from wafer foundry and services [7] - **Profit Margins**: Gross margin target set between 35% to 45% for wafer regeneration projects [3][16] - **Order Growth Outlook**: Management maintains a cautiously optimistic outlook for order growth, aiming for an increase over last year's 5 billion CNY [9] Additional Important Insights - **R&D Investments**: Increased R&D spending in ion implantation and thinning technologies, leading to a rise in operational costs [19] - **International Market Strategy**: Plans to promote CMP equipment in Southeast Asia and Europe, with ongoing efforts to establish a presence in these regions [23][24][25] - **Future Development Strategy**: Focus on maintaining a competitive edge through continuous innovation and strategic acquisitions to enhance product offerings and market share [20][28]

Group 1 - The latest stock price of Guangli Technology is 16.36 yuan, an increase of 2.76% compared to the previous trading day, with a peak of 16.41 yuan and a low of 15.83 yuan during the day, and a total transaction volume of 1.80 billion yuan [1] - The company operates in the specialized equipment manufacturing industry, focusing on the research, production, and sales of semiconductor packaging equipment, with over 20 models of cutting equipment developed [1] - Guangli Technology's semiconductor packaging equipment has been recognized by leading domestic customers, providing high-end cutting equipment and consumables [1] Group 2 - The company has mastered the technology and processing techniques for integrated reverse planetary roller screws and linear actuators, actively seeking new application areas [1] - Guangli Technology is scheduled to disclose its 2025 semi-annual report on August 27 [1] - Data shows that the net outflow of main funds on the day was 19.67 million yuan, with a net outflow of 86.41 million yuan over the past five days [1]

Core Viewpoint - The company, Guangli Technology, has confirmed that its semiconductor packaging equipment is widely applicable across various semiconductor products, particularly highlighting its cutting equipment represented by model 8230, which has over 20 different models and has received high recognition from leading domestic clients [1] Group 1 - The company provides high-end cutting equipment and consumables for semiconductor packaging processes [1] - The customer base of the company is extensive, covering a wide range of clients in the semiconductor industry [1]