每经AI快讯，12月4日，沃尔德在互动平台表示，金刚石热沉材料可用于电子、光电子等半导体器件散 热、高端医疗器械的热传感器及快速散热部件等领域。公司深耕单晶及多晶金刚石在功率半导体器件热 沉方面的应用，目前收入规模较小，对当期业绩影响极小。 （文章来源：每日经济新闻） ...

Core Viewpoint - The cultivated diamond sector has emerged as a "star track" in the capital market this year, driven by policy benefits and technological breakthroughs, leading to explosive growth and the emergence of several "big bull stocks" [1] Industry Performance - The cultivated diamond sector has seen a significant increase in stock prices, with Wald's stock price rising by 285.02% this year, and a notable increase of 62.91% in November alone [1] - On November 11, multiple stocks in the cultivated diamond sector performed strongly, with Wald's stock price reaching 83.90 CNY per share, marking a more than 70% increase in just five trading days [2] - Five companies in the sector have seen their stock prices double this year, with *ST Yazhen's stock price increasing over seven times [2] Policy Impact - The Ministry of Commerce announced export controls on superhard materials, effective November 8, which is expected to drive domestic cultivated diamond companies to prioritize domestic market needs and accelerate high-value product development [2][3] - This policy is anticipated to provide benefits for 2-3 years, depending on the speed of domestic technological upgrades and the construction of international alternative capacities [3] Company Financials - Wald's revenue for 2022, 2023, and 2024 is projected to be 414 million CNY, 603 million CNY, and 679 million CNY, respectively, with year-on-year growth rates of 45.52% and 12.54% for 2023 and 2024 [5] - Despite revenue growth of 9.05% in the first three quarters of this year, Wald experienced a decline in net profit by 6.67%, indicating a situation of "increased revenue but decreased profit" [5][6] - Wald's operating costs have been increasing, with total operating costs projected at 349 million CNY, 504 million CNY, and 570 million CNY for 2022, 2023, and 2024, respectively [6] Research and Development - Wald is one of the few companies capable of mastering the three major preparation processes of CVD technology, with a focus on high-value products such as diamond film acoustic devices and diamond thermal materials [5] - The company has been increasing its R&D expenses, which are expected to be 32.94 million CNY, 45.67 million CNY, and 51.06 million CNY for 2022, 2023, and 2024, respectively [6] - As of June 2025, Wald holds 360 domestic and international patents, including 106 invention patents [6]