2025年12月，神工股份在接受机构投资者调研时表示，公司的硅零部件产品，由大直径硅材料加工而 成，其终端主要应用于存储芯片制造厂的等离子刻蚀工艺中，是需要定期更换的核心耗材；其更换频率 与存储芯片制造产线的开工率和刻蚀应用强度相关——开工率越高，刻蚀次数越多、强度越大，对硅零 部件的消耗就越多。 随着存储芯片先进制程向着3D堆叠方向不断进展，需要更多高深宽比刻蚀；且存储芯片电路线宽向着 10nm以下进展，需要更大直径的硅零部件。因此，从定性来看，伴随技术革新，先进制程存储芯片制 造厂的刻蚀用量将增长，硅零部件的需求量将增大。 国内市场方面，中国本土市场国产替代加速，资本开支持续增长，特别是存储芯片制造厂在技术和产能 两方面紧跟全球先进水平，对关键耗材需求增加，带动公司硅零部件业务收入快速增长。 此外，随着下游需求回暖向好，公司产能利用率提升，规模效应显现；叠加内部管理优化，毛利率与净 利率同步提升，公司盈利能力稳步上行。 据神工股份2025年三季报披露，公司2025年前三季度实现净利润7116.96万元，据此测算，神工股份第 四季度净利润大概在1883万元到3883万元之间。 神工股份专注于半导体级单晶硅材 ...

Group 1 - The core point of the news is that Shen Gong Co., Ltd. experienced a 5% decline in stock price, reaching 73.09 yuan per share, with a trading volume of 166 million yuan and a turnover rate of 1.32%, resulting in a total market capitalization of 12.448 billion yuan [1] - Shen Gong Co., Ltd. is located in Jinzhou, Liaoning Province, and was established on July 24, 2013. The company was listed on February 21, 2020, and its main business involves the research, production, and sales of semiconductor-grade monocrystalline silicon materials [1] - The revenue composition of Shen Gong Co., Ltd. includes silicon components at 53.86%, large-diameter silicon materials at 44.37%, with 16-inch and above at 24.07% and below 16-inch at 20.30%, and semiconductor large-size silicon wafers at 1.44%, with other contributions at 0.33% [1] Group 2 - From the perspective of the top ten circulating shareholders, a fund under Huaxia Fund ranks among the top shareholders of Shen Gong Co., Ltd. The Huaxia SSE STAR Market Semiconductor Materials and Equipment Theme ETF (588170) entered the top ten circulating shareholders in the third quarter, holding 771,000 shares, accounting for 0.45% of circulating shares [2] - The Huaxia SSE STAR Market Semiconductor Materials and Equipment Theme ETF (588170) was established on March 24, 2025, with a latest scale of 2.79 billion yuan. It has achieved a return of 16.2% this year, ranking 233 out of 5,517 in its category, and a cumulative return of 74.62% since inception [2] - The fund manager of the Huaxia SSE STAR Market Semiconductor Materials and Equipment Theme ETF (588170) is Yang Siqi, who has been in the position for 1 year and 217 days, managing total fund assets of 11.248 billion yuan, with the best fund return during the tenure at 73.59% and the worst at -3.79% [2]

华夏上证科创板半导体材料设备主题ETF（588170）基金经理为杨斯琪。 截至发稿，杨斯琪累计任职时间1年212天，现任基金资产总规模112.48亿元，任职期间最佳基金回报 51.66%， 任职期间最差基金回报-3.79%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，锦州神工半导体股份有限公司位于辽宁省锦州市太和区中信路46号甲，成立日期2013年7月 24日，上市日期2020年2月21日，公司主营业务涉及半导体级单晶硅材料的研发、生产和销售。主营业 务收入构成为：硅零部件53.86%，大直径硅材料44.37%，其中:16英寸以上24.07%，其中:16英寸以下 20.30%，半导体大尺寸硅片1.44%，其他0.33%。 从神工股份十大流通股东角度 数据显示，华夏基金旗下1只基金位居神工股份十大流通股东。华夏上证科创板半导体材料设备主题 ETF（588170）三季度新进十大流通股东，持有股数77.1万股，占流通股的比例为0.45%。根据 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Insights - The company is a leading supplier of single crystal silicon materials for integrated circuit etching, holding approximately 15% of the global market share. It is expected to benefit from the overall supply chain improvement driven by the storage industry's growth cycle, leading to potentially exceeding performance expectations [1][2] - The company has established a strong position in the semiconductor materials sector since its inception in 2013, with a product matrix that includes large diameter etching silicon materials, silicon components, and large-size silicon wafers. Its integrated R&D and production capabilities provide a sustainable competitive advantage [2] - The demand for large diameter silicon materials is expected to rise due to increased utilization in storage chip manufacturing, particularly as the global tech giants ramp up capital expenditures for computing centers. This trend is anticipated to create structural shortages in storage chip capacity [3] - The company has a stable export market for its large diameter silicon materials, with products already integrated into major domestic etching equipment manufacturers and wafer fabs. Its product range covers 14-inch to 22-inch specifications, catering to a broad customer base across key semiconductor regions [4] Financial Projections - Revenue forecasts for the company from 2025 to 2027 are projected at 450 million, 800 million, and 1.32 billion yuan, representing year-on-year growth rates of 47.2%, 78.5%, and 65.3% respectively. Net profit is expected to reach 100 million, 260 million, and 440 million yuan, with growth rates of 152.9%, 152.8%, and 68.4% respectively [12][14] - The estimated P/E ratios based on the closing price as of January 6, 2026, are 120.9, 47.8, and 28.4 for the years 2025, 2026, and 2027 respectively [12]

资料显示，锦州神工半导体股份有限公司位于辽宁省锦州市太和区中信路46号甲，成立日期2013年7月 24日，上市日期2020年2月21日，公司主营业务涉及半导体级单晶硅材料的研发、生产和销售。主营业 务收入构成为：硅零部件53.86%，大直径硅材料44.37%，其中:16英寸以上24.07%，其中:16英寸以下 20.30%，半导体大尺寸硅片1.44%，其他0.33%。 从基金十大重仓股角度 数据显示，国投瑞银基金旗下1只基金重仓神工股份。国投瑞银专精特新量化选股混合A（015842）三 季度持有股数3.09万股，占基金净值比例为1.48%，位居第二大重仓股。根据测算，今日浮盈赚取约 11.33万元。 12月24日，神工股份涨5.2%，截至发稿，报74.31元/股，成交5.09亿元，换手率4.19%，总市值126.55亿 元。 国投瑞银专精特新量化选股混合A（015842）基金经理为赵建。 截至发稿，赵建累计任职时间12年93天，现任基金资产总规模76.12亿元，任职期间最佳基金回报 172.91%， 任职期间最差基金回报-88.73%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出 ...

Core Viewpoint - Shen Gong Co., Ltd. has shown significant stock price growth and strong financial performance in the semiconductor materials sector, indicating potential investment opportunities. Group 1: Stock Performance - As of December 23, Shen Gong's stock price increased by 2.12% to 67.59 CNY per share, with a trading volume of 338 million CNY and a turnover rate of 3.00%, resulting in a total market capitalization of 11.511 billion CNY [1] - Year-to-date, Shen Gong's stock price has risen by 189.16%, with a 9.78% increase over the last five trading days, a 5.40% decrease over the last 20 days, and a 94.50% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on November 11, where it recorded a net purchase of 13.1969 million CNY [1] Group 2: Company Overview - Shen Gong Co., Ltd., established on July 24, 2013, and listed on February 21, 2020, specializes in the research, production, and sales of semiconductor-grade single crystal silicon materials [2] - The company's main business revenue composition includes silicon components (53.86%) and large diameter silicon materials (44.37%), with 16-inch and above accounting for 24.07% and below 16-inch for 20.30% [2] - Shen Gong is classified under the electronic-semiconductor-semiconductor materials industry and is involved in concepts such as single crystal silicon, mid-cap, storage concepts, margin financing, and buybacks [2] Group 3: Financial Performance - For the period from January to September 2025, Shen Gong achieved a revenue of 316 million CNY, representing a year-on-year growth of 47.59%, and a net profit attributable to shareholders of 71.1696 million CNY, reflecting a year-on-year increase of 158.93% [2] - Since its A-share listing, Shen Gong has distributed a total of 134 million CNY in dividends, with 28.7016 million CNY distributed over the past three years [3] - As of September 30, 2025, the number of shareholders increased by 42.44% to 19,400, with an average of 8,785 circulating shares per person, a decrease of 29.79% [2]

"成立该基金，是公司落实外延式发展的诸多路径之一。该基金将结合公司的产业优势，重点关注围绕 晶圆制造需要的关键设备、零部件、材料等方向进行布局；基金的投资地域重点聚焦于中国境内，兼顾 布局全球及投资拥有先进技术、优质产能且有望引进国内的海外优秀标的公司。"神工股份表示，公司 已与管理人国泰君安创新投资及其他合伙人正式签署了合伙协议。截至目前，该基金已完成合伙协议的 签署、收到缴款通知并取得了武汉市江汉区行政审批局颁发的《营业执照》。 展望2025年第四季度以及2026年，神工股份认为当前半导体产业正在"换挡变速"。今年以来，全球科技 巨头对算力中心的单季度资本开支金额，已经从此前的300亿至400亿美元，大幅增加到800亿至1000亿 美元的历史新高，并叠加年底消费电子产业链备料出货需求，因此存储芯片产能出现结构性短缺；中国 本土存储芯片制造厂商发展迅猛，已经在前沿技术和市场份额两方面不断赶超海外竞争对手，改变了既 有的全球产业格局；此外，消费者端侧应用创新正在加速，有望为半导体周期上行带来最根本且持久的 市场驱动力。 公司大直径硅材料的制成品硅零部件，主要应用于存储芯片制造厂的刻蚀环节，开工率越高，使用量越 ...

Core Viewpoint - Shen Gong Co., Ltd. has experienced significant stock price fluctuations, with a year-to-date increase of 176.36% but a recent decline of 9.59% over the past five trading days [2]. Group 1: Stock Performance - As of December 2, Shen Gong's stock price was 64.60 CNY per share, with a market capitalization of 11 billion CNY [1]. - The stock has seen a 29.46% increase over the past 20 days and a 73.10% increase over the past 60 days [2]. - The company has appeared on the trading leaderboard four times this year, with the most recent net buy of 13.20 million CNY on November 11 [2]. Group 2: Financial Performance - For the period from January to September 2025, Shen Gong reported revenue of 316 million CNY, representing a year-on-year growth of 47.59% [3]. - The net profit attributable to shareholders for the same period was approximately 71.17 million CNY, reflecting a year-on-year increase of 158.93% [3]. Group 3: Shareholder and Dividend Information - As of September 30, 2025, the number of shareholders increased by 42.44% to 19,400, while the average number of circulating shares per person decreased by 29.79% to 8,785 shares [3]. - Since its A-share listing, Shen Gong has distributed a total of 134 million CNY in dividends, with 28.71 million CNY distributed over the past three years [4]. - Notable institutional shareholders include the Guotai Zhenzheng Semiconductor Materials Equipment Theme ETF and the Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials Equipment Theme ETF, both of which are new entrants among the top ten circulating shareholders [4].

Group 1 - The core point of the news is that ShenGong Co., Ltd. experienced a decline of 5.02% in its stock price, reaching 67.86 yuan per share, with a trading volume of 468 million yuan and a turnover rate of 4.00%, resulting in a total market capitalization of 11.557 billion yuan [1] - ShenGong Co., Ltd. is located in Jinzhou, Liaoning Province, and was established on July 24, 2013, with its listing date on February 21, 2020. The company specializes in the research, production, and sales of semiconductor-grade single crystal silicon materials [1] - The main business revenue composition of ShenGong Co., Ltd. includes silicon components at 53.86%, large diameter silicon materials at 44.37%, with over 16 inches accounting for 24.07% and under 16 inches for 20.30%, and semiconductor large-size silicon wafers at 1.44%, with other contributions at 0.33% [1] Group 2 - From the perspective of the top ten circulating shareholders of ShenGong Co., Ltd., a fund under Huaxia Fund ranks among the top shareholders. The Huaxia SSE STAR Market Semiconductor Materials and Equipment Theme ETF (588170) entered the top ten circulating shareholders in the third quarter, holding 771,000 shares, which accounts for 0.45% of the circulating shares [2] - The Huaxia SSE STAR Market Semiconductor Materials and Equipment Theme ETF (588170) was established on March 24, 2025, with a latest scale of 2.79 billion yuan and has achieved a return of 33.86% since its inception [2] - The fund manager of the Huaxia ETF is Yang Siqi, who has been in the position for 1 year and 169 days, with the total asset scale of the fund currently at 11.54 billion yuan. The best fund return during Yang's tenure is 51.66%, while the worst return is -5.74% [2]

Core Viewpoint - Shen Gong Co., Ltd. has shown significant stock performance with a year-to-date increase of 207.81%, indicating strong market interest and potential growth in the semiconductor materials sector [1][2]. Company Overview - Shen Gong Co., Ltd. was established on July 24, 2013, and went public on February 21, 2020. The company specializes in the research, production, and sales of semiconductor-grade monocrystalline silicon materials [2]. - The main revenue components are silicon components (53.86%) and large-diameter silicon materials (44.37%), with 16-inch and above accounting for 24.07% and below 16-inch for 20.30% [2]. Financial Performance - For the period from January to September 2025, Shen Gong Co., Ltd. achieved a revenue of 316 million yuan, representing a year-on-year growth of 47.59%. The net profit attributable to the parent company was 71.17 million yuan, showing a remarkable increase of 158.93% [2]. - The company has distributed a total of 134 million yuan in dividends since its A-share listing, with 28.70 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders increased by 42.44% to 19,400, with an average of 8,785 circulating shares per person, a decrease of 29.79% [2]. - Notable institutional shareholders include the Guotai Zhongzheng Semiconductor Materials Equipment Theme ETF and the Huaxia Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials Equipment Theme ETF, both of which are new entrants among the top ten circulating shareholders [3].