Core Viewpoint - Shanghai Xinyang Semiconductor Materials Co., Ltd. held a specific investor survey with 35 institutions, discussing the company's business performance and future plans in the semiconductor industry [1] Company Business Overview - Shanghai Xinyang focuses on five core business areas: electroplating, cleaning, photolithography, grinding, and etching, providing key process materials and supporting equipment for integrated circuit manufacturing and advanced packaging [1] - In the first half of 2025, the semiconductor industry revenue reached 709 million yuan, a year-on-year increase of 53.12%, supplying over 120 semiconductor packaging companies and more than 100 chip manufacturers [1] Capacity Planning - The current capacity at the Songjiang headquarters is 19,000 tons per year; the Hefei Xinyang Phase I expansion will increase capacity to 43,500 tons per year [1] - New projects include a 50,000 tons per year capacity at the Songjiang headquarters and a 30,500 tons per year project in the Shanghai Chemical Industry Zone, both progressing normally [1] Photolithography Business Progress - The company has established a complete R&D and production platform for photolithography materials, with several products already industrialized and achieving advanced optical data metrics [1] - KrF photolithography products are being sold in bulk, and ArF immersion photolithography products have received orders [1] Grinding Liquid Product Development - Series products such as STI slurry, Poly slurry, and W slurry have completed client testing and are entering mass production, with rapid sales growth [1] - The company aims to target domestic market gaps and meet customer technology iteration needs [1] Financial Performance - The gross margin for the semiconductor business declined due to increased production costs from the Hefei Xinyang project and depreciation expenses [1] - The coating segment's revenue was 187 million yuan in the first half of 2025, a year-on-year decrease of 5.29% due to slow recovery in the construction industry [1] Revenue Targets - The company achieved a total revenue of 897 million yuan in the first half of 2025, with semiconductor revenue at 709 million yuan [1] - The company aims for semiconductor revenue of no less than 1.3 billion yuan and total revenue of no less than 1.7 billion yuan for the full year 2025 [1] Product Advantages and Industry Position - With over 20 years of experience, the company covers all technology nodes from 90nm to 14nm for chip copper interconnect processes, making it a leading domestic enterprise [1] - As of the first half of 2025, the company has become the baseline for 56 12-inch and 23 8-inch integrated circuit production lines, accounting for over 70% and 60% respectively [1]

Company Overview - Shanghai Xinyang Semiconductor Materials Co., Ltd. focuses on R&D, production, sales, and service of key process materials and supporting equipment for integrated circuit manufacturing and advanced packaging [1] - The company operates five core business technologies: electronic plating, electronic cleaning, electronic lithography, electronic grinding, and electronic etching [1] Financial Performance - In the first half of 2025, the semiconductor industry achieved revenue of CNY 7.09 billion, a year-on-year increase of 53.12% [1] - The company’s total revenue for the first half of 2025 reached CNY 8.97 billion [5] - The projected revenue for the semiconductor sector for the full year 2025 is not less than CNY 13.00 billion, with total revenue expected to exceed CNY 17.00 billion [5] Production Capacity - Current production capacity at the Songjiang headquarters is 19,000 tons/year [1] - The Hefei Xinyang Phase I capacity expansion is planned to reach 43,500 tons/year, including various chemical solutions for chip manufacturing [1][2] - A new project at the Songjiang headquarters is designed for a capacity of 50,000 tons/year, with specific allocations for ultra-pure cleaning and plating solutions [1] Product Development - The company has developed a complete range of photoresist products, including I-line, KrF, ArF dry, and ArF immersion types, with some achieving mass production [3] - The grinding liquid products have completed client testing and are now in mass production, targeting the domestic market to overcome key technology barriers [4] Profitability and Market Challenges - The gross margin for the semiconductor business declined year-on-year due to increased production costs from depreciation and the ramp-up phase of the Hefei project [4] - The coatings segment faced a revenue decline of 5.29% year-on-year, attributed to slow recovery in the construction market and falling product prices [4] Strategic Goals - The company aims to strengthen market development and explore various business models for its coatings segment [5] - Continuous innovation and optimization of product sales structure are key to achieving growth in the semiconductor materials sector [5] Industry Position - The company has established itself as a critical player in the domestic photoresist supply chain, with significant market share in various integrated circuit production lines [5]

Core Viewpoint - The semiconductor materials industry in China is experiencing significant growth driven by increased fab investments and domestic production opportunities, with 75 new 300mm wafer fabs expected to be operational from 2024 to 2027 [2] Group 1: Company Insights - Yake Technology focuses on electronic materials, LNG insulation materials, and flame retardants, expecting revenue and profit growth in 2024, with strong orders in LNG insulation and accelerating photolithography business [3] - Dinglong Co. is a leading supplier of CMP polishing pads in China, with a diversified portfolio in semiconductor manufacturing materials, including CMP materials, photolithography resins, and advanced packaging materials [4] - Tongcheng New Materials is a global leader in new materials, with a strong focus on semiconductor photolithography resins, expecting rapid growth in ArF photolithography resin and increased sales of KrF photolithography resin [5] - Shanghai Xinyang is developing key process materials for integrated circuits and advanced packaging, providing products to over 120 packaging companies and 70 chip manufacturers [6] - Anji Technology is a leading company in CMP polishing liquids, with a strong demand for its products and improving profit margins in the semiconductor materials sector [7] - Nanda Optoelectronics is engaged in advanced electronic materials, with steady revenue growth and expertise in core semiconductor material technologies across various applications [9]