（编辑 任世碧） 证券日报网讯 1月8日，华正新材在互动平台回答投资者提问时表示，公司注重新产品研发，以研发能 力打造作为公司发展的核心推动力，积极布局技术前沿领域，公司拥有可在服务器、数据中心、交换 机、光模块等领域应用的全系列高速覆铜板产品。公司开发的半导体封装材料可应用于Memory、 MEMS、CPU/GPU芯片等领域。 ...

没那么简单。 这两年，很多日企传出关停、倒闭的消息。有人说，日本制造，是不是在拼命撤出中国？ 1 日本企业，日子似乎不好过。 就在11月，佳能关闭了中山打印机生产基地，让不少网友唏嘘"一代人的青春结束了"。 要知道，曾经在中山佳能工厂上班被视为"金饭碗"，食堂3元管饱，免费宿舍，空调随便吹，求职者排长队入职，高峰期员工上万，生产上 亿台激光打印机，2022年还实现工业总产值近32亿。 可现在，这家工厂生产的佳能打印机，完全失守国内市场，只能撤退了。最高补偿2.5N+1，有人晒出拿到手40万，传遍全网。 佳能只是一个缩影。 ——今年4月，日产汽车宣布将于明年3月31日前关停武汉汽车工厂。7月，该工厂被岚图汽车以7.32亿元收购。 要知道，这座投资数十亿的汽车工厂，2022年才投产，计划年产30万辆。没想到车子卖不动，年产量长期不足1万辆，产能利用率低到只有 3%，闲置生产线成了吞噬企业现金流的"黑洞"。 ——今年7月，三菱汽车终止了和沈阳航天的发动机合资项目。早在2023年，三菱就已经停止了在华的整车生产。在华深耕了四十多年的三 菱，彻底退出了中国汽车制造的舞台。 ——今年8月，索尼Xperia官方微信公众号注 ...

Core Viewpoint - The company aims to capitalize on the domestic semiconductor and new energy vehicle industries by raising 300 million yuan through an IPO on the Beijing Stock Exchange to enhance its semiconductor packaging materials production capacity and R&D capabilities [1] Group 1: Investment Projects and Capacity Expansion - The core project of the fundraising is the construction of a production line for 12,000 tons of key supporting materials for semiconductor packaging, with an investment of 200 million yuan in Mianyang, Sichuan [3] - Upon reaching full production, the new line will add 6,000 tons of epoxy molding compounds, 4,000 tons of liquid epoxy and epoxy film packaging materials, and 2,000 tons of silicone packaging materials, with increases of 54% and 35% in epoxy molding and liquid epoxy packaging materials capacity respectively compared to 2024 [3] - The project is strategically positioned to meet the growing demand in the semiconductor and new energy vehicle markets, allowing the company to seize market opportunities ahead of competitors [3] Group 2: Market Demand and Growth Potential - The global semiconductor packaging materials market is projected to reach 24.6 billion USD in 2024 and exceed 26 billion USD in 2025, with domestic market growth outpacing the global average [4] - The domestic new energy vehicle sales are expected to reach 12.866 million units in 2024, a year-on-year increase of 35.5%, driving significant demand for electronic packaging materials [4] - The company’s products have entered the supply chains of leading automotive companies such as BYD, with the automotive electronics sector projected to account for 24.80% of revenue in 2024, becoming a key growth driver [4] Group 3: Strategic Location and Synergy - The company has established a collaborative development framework with production bases in Wuxi, Jiangsu, and Mianyang, Sichuan, covering the entire supply chain from R&D to production and sales [5] - The Sichuan-Chongqing region has developed a complete industrial chain for integrated circuits, attracting major industry players, which enhances the company’s strategic positioning [5] - The establishment of subsidiaries in Shenzhen for sales and in Chengdu for new product R&D supports a nationwide layout, optimizing production capacity and reducing logistics costs [5]

"新材料 创未来"2025新材料创业者大会 半导体及先进封装材料应用论坛 特邀学界、产业界与投资界领袖，围绕 先进封装核心材料、光刻工艺突破、检测技术演进等关键议题展开深度对话。从封装材料的自主创新与产业化挑战， 到光刻胶树脂的高分辨率技术攻关，再到检测与材料协同推动的行业进展，我们将共同剖析技术瓶颈、探索合作路 径、展望生态未来，携手推动半导体封装材料从"跟跑"到"并跑"乃至"领跑"的跨越，共筑中国半导体产业链自主可控 与持续创新的坚实基础。 倒计时8天 今日解锁—— 半导体及先进封装材料应用平行论坛 半导体是科技创新的基石，而先进封装技术正成为推动产业持续突破的关键引擎。在当前全球半导体产业格局深 刻变革的背景下，材料创新不仅是技术升级的核心支撑，更是实现自主可控、迈向高端制造的必经之路。 AMEC 主报告人一 主题：国内半导体封装材料的机会与挑战 AMEC 主报告人二 主题：高分辨率光刻胶树脂的关键技术解析 聂俊 江苏集萃光敏电子材料研究所有限公司董事长 北京化工大学，教授，博士生导师；先后任光聚合基础与应用研究中心主任、发展规划处处长、北京生物医用材料实验室常务副主任、北 京化工大学常州先进材料研究院 ...

Group 1: Business Development and Market Strategy - The company is actively expanding its liquid cooling business, focusing on core customer mass production processes and has achieved small batch liquid cooling product orders [1][2] - The semiconductor packaging materials business is targeting major clients in the power semiconductor packaging sector, with a focus on applications in new energy vehicles and photovoltaic inverters [2][3] - The company aims to leverage its expertise in high thermal conductivity materials and semiconductor packaging to enter the thermal management market, with a comprehensive product range including liquid cooling plates and next-generation microchannel cooling solutions [3][4] Group 2: Financial Performance - In the first three quarters of 2025, the company reported revenue of CNY 310 million, a year-on-year increase of 24.48%, and a net profit attributable to shareholders of CNY 12.42 million, up 2,925.45% [2][3] - The growth in performance is attributed to increased sales of smart card products and the rapid expansion of the power electronics application market, which has enhanced the market penetration of semiconductor packaging materials [3][4] Group 3: Research and Development - The company holds 185 patents, including 5 invention patents and 126 utility model patents, with R&D investment increasing by 9.59% year-on-year [2][3] - Future R&D efforts will focus on semiconductor packaging materials and the newly developed liquid cooling business [3][4] Group 4: Future Outlook and Risks - The company is optimistic about the future growth of its liquid cooling business, despite its current revenue contribution being low, as it anticipates rapid growth with increased customer acceptance and mass production plans [3][4] - The company emphasizes the importance of adhering to legal disclosure requirements and encourages investors to be rational in their investment decisions, highlighting potential risks associated with new business developments [4][5]

Group 1: Company Overview and Business Segments - The company focuses on three main business segments: smart cards, semiconductors, and digital & energy thermal management, with smart cards being the traditional stronghold [1][2] - The Ningbo Cheng Tian dedicated chip project was completed in 2019, contributing to both internal use and external sales, and the semiconductor packaging materials business achieved large-scale production in 2023 [1][2] Group 2: Liquid Cooling Business Development - The liquid cooling business is a significant growth point, leveraging the company's expertise in high thermal conductivity materials and core processes to expand from packaging materials to system-level solutions [2][3] - The company has established a complete capability chain from semiconductor packaging materials to liquid cooling components and overall solutions, differentiating itself from competitors [3][4] Group 3: Financial Performance and Market Dynamics - Revenue from semiconductor packaging materials is projected to account for nearly 10% of total revenue in 2024, with strong growth expected [6] - The company's revenue fluctuated in 2022-2023 due to macroeconomic downturns, with smart card business being the main revenue source during this period [8][9] Group 4: Strategic Partnerships and Customer Base - The company maintains long-term strategic partnerships with major clients like THALES and IDEMIA, with overseas business accounting for over 60% of revenue [9][12] - The customer base for semiconductor packaging and liquid cooling businesses is currently independent, but there is potential for future collaboration as technology evolves [11] Group 5: Research and Development Focus - Future R&D investments will prioritize semiconductor packaging materials and the newly developed liquid cooling business, focusing on system-level testing and integration [10][12] - The company aims to enhance its competitive edge through continuous innovation and cost-effectiveness analysis in R&D [10] Group 6: Market Trends and Risks - The rise of eSIM technology is expected to boost product margins and transition the smart card business towards service-oriented models [12] - The company is aware of potential risks associated with new product development, including technological and market uncertainties [12]

Core Insights - The company, Cheng Tian Wei Ye, reported strong growth in its Q3 2025 financial results, with a revenue of 310 million yuan, representing a year-on-year increase of 24.48%, and a net profit of 12.42 million yuan, showing a significant year-on-year growth of 2925.45% [2] - In Q3 2025 alone, the company achieved a revenue of 100.6 million yuan, up 9.94% year-on-year, and a net profit of 1.5458 million yuan, reflecting a year-on-year increase of 225.45% [2] Financial Performance - The company’s revenue for the first three quarters reached 310 million yuan, with a net profit of 12.42 million yuan, indicating a substantial improvement in profitability [2] - The single-quarter performance in Q3 2025 shows a revenue of 100.6 million yuan and a net profit of 1.5458 million yuan, highlighting a strong operational efficiency and profitability improvement [2] Business Overview - Cheng Tian Wei Ye is a leading enterprise in the smart card and dedicated chip sector, with its main business encompassing R&D, production, and sales of smart cards and dedicated chips, widely applied in communication, finance, transportation, and social security [3] - The company maintains a competitive advantage through a full industry chain layout and one-stop service capabilities, while also expanding its market share with major telecom operators [3] Growth Strategy - The company plans to continue its innovation-driven strategy, focusing on extending its industrial chain and exploring new fields, particularly in smart card applications in 5G and IoT [4] - Cheng Tian Wei Ye aims to leverage opportunities in the semiconductor and digital energy thermal management markets through ongoing technological innovation and product upgrades [4] Future Outlook - With the acceleration of global digitalization and the widespread application of emerging technologies, the company is expected to experience broader development opportunities due to its solid technical foundation in smart cards and dedicated chips [4] - Analysts believe that the company’s stable growth in traditional business, combined with rapid development in emerging sectors, will provide new growth momentum, making its future prospects promising [4]

Core Insights - The company, Cheng Tian Wei Ye, reported strong growth in its Q3 2025 financial results, with a revenue of 310 million yuan, a year-on-year increase of 24.48%, and a net profit of 12.42 million yuan, reflecting a significant year-on-year growth of 2925.45% [1] - In Q3 2025 alone, the company achieved a revenue of 100.6 million yuan, up 9.94% year-on-year, and a net profit of 1.5458 million yuan, which is a 225.45% increase year-on-year, indicating improved profitability and operational efficiency [1] Group 1 - The company operates in the smart card and dedicated chip sectors, focusing on R&D, production, and sales, with applications in communication, finance, transportation, and social security [2] - Cheng Tian Wei Ye maintains a competitive edge through a full industry chain layout and one-stop service capabilities, while expanding its market share with major telecom operators in China [2] - The company has seen explosive growth in its semiconductor packaging materials business in 2024, with continued strong growth expected in 2025, and has developed new technologies in thermal management [2] Group 2 - The company plans to continue its innovation-driven strategy, extending its industrial chain and exploring new fields, particularly in 5G and IoT applications [3] - Cheng Tian Wei Ye aims to leverage opportunities in the semiconductor and digital energy thermal management markets through ongoing technological innovation and product upgrades [3] - The company is well-positioned for future growth due to its solid technical foundation in smart cards and dedicated chips, as well as its proactive approach in emerging business areas [3]

Group 1: Market Dynamics - As of September 28, 2025, there were 17 new private placement projects added, a 1 project increase from the previous period, with 10 projects terminated, marking a 4 project increase[4] - The approval rate for projects was 100%, with 3 projects approved by the review committee, a decrease of 8 projects from the previous period[19] - There are currently 628 projects under normal review, with 65 projects having received approval, a decrease of 8 projects[7] Group 2: Fundraising Overview - In the last two weeks, 5 competitive projects raised a total of 6.9 billion yuan, a decrease of 38.84% from the previous period[34] - The average base discount rate for these projects was 11.16%, down 2.10 percentage points from the previous period[36] - The average market price discount rate was 16.23%, with a slight decrease of 0.02 percentage points[36] Group 3: Unlocking Gains - Among the 6 competitive projects that were unlocked, 83.33% had positive returns, a decrease of 16.67 percentage points from the previous period[50] - The average absolute return on the unlocking day was 47.36%, with an excess return of 34.54%, both showing increases from the previous period[50] - The average market price discount rate for these projects was 10.77%, down 4.65 percentage points from the previous period[50]

Group 1: Industry Development - Dengfeng City has formed two main industries: aluminum processing products and equipment manufacturing, along with strategic emerging industries represented by new materials [1] - The company, Cijin Technology (Henan) Co., Ltd., holds 19 invention patents and produces semiconductor packaging materials and frequency devices widely used in communication, automotive, remote control, and various measuring instruments, filling multiple domestic gaps [1] - Liu Ning emphasized the importance of enhancing original innovation capabilities, increasing R&D investment intensity, and improving the efficiency of results transformation to promote continuous innovation in the new materials industry [1] Group 2: Cultural Heritage and Tourism - The "Heaven and Earth in the Middle" historical architecture group in Dengfeng includes 8 sites and 11 historical buildings, representing a rich cultural heritage and is an important world cultural heritage site [2] - Liu Ning highlighted the need to protect, inherit, and promote these cultural treasures, aiming to enhance the charm and influence of Mount Song, and to develop a world-class cultural tourism destination [2] - The focus is on systematic protection and revitalization of cultural relics, exploring and interpreting multiple cultural values, and deepening the integration of culture and tourism [2] Group 3: Economic and Social Development - Liu Ning stressed the implementation of Xi Jinping's important speech during his visit to Henan, focusing on the "1+2+4+N" target task system to develop leading county industries and build a modern industrial system [3] - The emphasis is on transforming ecological advantages into strong economic development momentum, particularly in the context of adverse weather affecting agricultural production [3] - Local authorities are urged to enhance governance levels and ensure a safe and orderly tourism market during the upcoming holidays [3]