中证报中证网讯(王珞)8月29日晚，至纯科技（603690）发布2025年半年度业绩报告。报告显示，公司 上半年实现营业收入16.08亿元，同比增长5.25%；归母净利润3931.87万元。公司持续深耕半导体制造 全周期服务，上半年电子材料业务收入达1.33亿元，同比大幅增长146%。 公司于2022年自主投资建设的国内首座完全国产化、支持28纳米制程的12英寸晶圆大宗气体工厂稳定运 行。第二座同类气站已于2024年投入运营，预计将随客户产能释放贡献持续收入。同时，公司积极拓展 半导体核心零部件业务，报告期内，公司TGM(气体管理)和TCM(化学品管理)驻厂服务正有序推进，部 分业务已进入批量供应阶段，将为公司提供更具韧性的营收增长。此外，公司目前正积极推进对电子材 料供应商威顿晶磷的并购，旨在强化电子材料领域的战略布局、扩大收入规模并优化利润结构。 公司坚持高研发投入，上市至今累计研发投入超18亿元，在半导体设备与材料领域实现多项突破，是国 内能提供到28纳米制程节点全部湿法工艺的本土供应商。公告显示，公司在高纯工艺系统市场占据领先 地位，2016-2024年中国大陆主流12寸晶圆厂41次特气中标结果中，公 ...

公司坚持高研发投入，上市至今累计研发投入超18亿元，在半导体设备与材料领域实现多项关键突破， 是国内能提供到28纳米制程节点全部湿法工艺的本土供应商。公司在高纯工艺系统市场占据领先地位， 2016-2024年中国大陆主流12寸晶圆厂41次特气中标结果中，公司市占率达48.8%；化学品设备及系统的 市占率超过30%。截至2025年6月30日，公司累计申请专利达865件，其中包括356件发明专利和23件 PCT国际申请；已获授权专利615件，含发明专利194件。此外，公司还拥有软件著作权185件、注册商 标163件。今年上半年，公司取得一件针对槽式清洗设备SPM酸洗工艺的美国专利授权，标志着公司开 始布局国际专利，获得国际市场的权威认可。 至纯科技始终紧密围绕国家战略，始终坚持以技术创新为驱动，在半导体设备与材料领域实现了多项关 键突破，成功打破国外厂商长期垄断的局面，为产业链安全与可持续发展提供了坚实支撑。公司构 建"工艺—设备—材料"三位一体布局，前瞻性推进供应链国产化，已建立的完备的备货体系和技术储 备，能够有效应对外界干扰，为产业用户持续提供高质量服务。当前公司在手订单充足，总额达134.14 亿元(含长 ...

在生产与研发体系布局上，恒大电子展现出强劲实力。生产基地方面，分别在中国无锡和浙江丽水建有两座设备工厂，年生产能力可达到特气设备3000 套、化学品设备1200套；研发层面，建有1200 平方米的科研实验中心，并设立博士后工作站，重点致力于全国产化设备的研发工作以及现有产品性能的 持续提升。 无锡工厂 投资界8月13日消息，近日，初芯基金完成对无锡恒大电子科技有限公司（以下简称"恒大电子"、"公司"）数千万元战略投资，此次投资将为恒大电子注 入强劲动力，助力其在泛半导体高端装备全面国产化进程中持续攻坚突破，并加速推动优质企业成功 "出海"，拓展国际市场。 恒大电子专注于半导体厂务系统与设备，为半导体芯片制造、新型显示、新能源、生物制药等前沿领域，提供工艺介质供应系统及工艺环境综合解决方 案。十余年来，其凭借技术深耕、工艺创新、优质的产品与良好的服务，业务版图已成功覆盖全国及东南亚多个国家，与华润微电子、Ferrotec、京东 方、彩虹光电、华星光电、长江存储、杭州富芯、株洲中车、蜂巢能源等知名企业建立长久良好的合作关系。 丽水生产基地 科研实验中心 在国产替代浪潮席卷高端制造领域的当下，恒大电子凭借十余年的技 ...

Group 1 - The stock price of Zhichun Technology reached 25.15 yuan as of August 4, 2025, reflecting an increase of 0.60% compared to the previous trading day [1] - The trading volume on that day was 176 million yuan, with a turnover rate of 1.84% [1] - Zhichun Technology specializes in the research, production, and sales of high-purity process systems and semiconductor equipment, with applications in integrated circuits, photovoltaics, and LEDs [1] Group 2 - As of the end of July 2025, Zhichun Technology announced a cumulative share repurchase of approximately 2.78 million shares, accounting for 0.73% of the total share capital, with a total repurchase amount of 69.3765 million yuan [1] - On August 4, 2025, the net outflow of main funds was 11.2135 million yuan, with a cumulative net outflow of 90.7791 million yuan over the past five days [1]

Investment Rating - The report assigns an "Accumulate" rating to the company [3]. Core Views - The acquisition of Guizhou Weidun Crystal Phosphorus will enhance the company's presence in the high-purity electronic materials sector, further solidifying its business layout in the semiconductor field [1]. - Weidun Crystal Phosphorus is a leading domestic supplier of high-end semiconductor materials, with established relationships with major clients, contributing to the domestic substitution trend [2]. - The acquisition is expected to strengthen the company's electronic materials business, improve its overall performance, and align with its strategic development goals [3]. Summary by Sections Company Overview - The company, established in 2000, focuses on high-purity process systems and semiconductor wet cleaning equipment, providing solutions for various advanced manufacturing sectors [14]. - The main products include precursor materials and doping/oxidation materials, primarily used in diffusion and thin-film deposition processes [2]. Financial Performance - In 2024, Weidun Crystal Phosphorus is projected to achieve revenue of 249 million yuan and a net profit of 69.05 million yuan, with a net profit margin of 27.71% [2]. - The company anticipates a decline in net profit for 2024, estimated between 90 million and 135 million yuan, primarily due to increased R&D expenses and other non-recurring losses [3][6]. Acquisition Impact - The acquisition is expected to enhance the company's electronic materials capabilities and contribute positively to its financial performance post-merger [3]. - The company has a history of investment in Weidun Crystal Phosphorus, indicating a strong relationship and a high degree of certainty regarding the acquisition [7]. Revenue and Profit Forecast - The company forecasts revenues of 34.23 billion, 44.49 billion, and 56.64 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 8.6%, 30%, and 27% [8][21]. - The projected net profits for the same period are 1.11 billion, 3.48 billion, and 4.88 billion yuan, with significant growth expected in 2025 and 2026 [8][21]. Valuation Metrics - As of March 12, 2025, the company's stock price of 25.73 yuan corresponds to price-to-earnings ratios of 89, 28, and 20 for the years 2024, 2025, and 2026, respectively [8][24].