上海奉贤区人民政府办公室印发《奉贤区通用新材料产业发展行动方案(2025-2027)》。其中提到，以上 海电子化学品专区为载体，以杭州湾开发区、工业综合开发区为重点，依托确信乐思、同创普润、康美 特等企业，重点发力湿化学品、高纯靶材、电子气体、半导体封装材料等集成电路配套材料方向。支持 企业发展先进制程集成电路配套材料，如6N级以上高纯靶材、G3级以上高纯试剂、深紫外光刻胶及配 套试剂等，加快实现国产替代。推动同创普润新材料产业园项目落地，打造产业链生态拓展空间。 ...

重点关注上半年业绩增长确定性方向、AI-PCB 及算力硬件、半导体自主可控、苹果链及 AI 驱动受益产业链。 英伟达 GB200/300 积极拉货，2025、2026 年 ASIC 迎来爆发式增长，目前多家 AI-PCB 公司订单强劲，满产满 销，正在大力扩产，二、三季度业绩高增长有望持续，AI 覆铜板也需求旺盛，随着英伟达 GB200 及 ASIC 的放 量，AI 服务器及交换机大量转向采用 M8 材料，由于海外 AI 覆铜板扩产缓慢，大陆覆铜板龙头厂商有望积极受 益，看好核心受益公司。建议重点关注算力核心受益硬件，自主可控受益方向、苹果链及 AI 驱动受益产业链。 细分行业景气指标：消费电子（稳健向上）、PCB（加速向上）、半导体芯片（稳健向上）、半导体代工/设备/材料 /零部件（稳健向上）、显示（底部企稳）、被动元件（稳健向上）、封测（稳健向上）。 电子周观点： Me ta 发布 AI 运动眼镜，建议关注 AI/AR 眼镜受益产业链。6 月 20 日，Meta 和运动眼镜品牌 Oakley 推出无显 示屏全新 AI 眼镜 Oakley Meta HSTN，推动 AI 眼镜在滑雪/登山/骑行等运动领域深度 ...

广州开发区、黄埔区：支持光刻、清洗、刻蚀、离子注入、沉积等设备、关键零部件及工具国产化替代 智通财经6月17日电，《广州开发区 黄埔区支持集成电路产业高质量发展若干政策措施》近日发布。其 中提出，鼓励发展光掩模、电子气体、光刻胶、抛光材料、高纯靶材等高端半导体和传感器制造材料。 积极引进国内重点基础材料企业，稳步提升关键基础材料供应能力。重点围绕集成电路制造关键部件和 系统集成开展持续研发和技术攻关，支持光刻、清洗、刻蚀、离子注入、沉积等设备、关键零部件及工 具国产化替代。对于新引进的固定资产投资1000万元以上的产业化项目，且政策有效期内实现小升规的 企业，按照不超过其设备和工器具投资额的15%分档给予扶持，最高1000万元。 ...

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 87.50 CNY per share, maintaining the rating [4]. Core Insights - The company achieved a revenue of 3.605 billion CNY in 2024, representing a year-on-year increase of 38.57%, and a net profit of 401 million CNY, up 56.79% year-on-year [1]. - The company is a leading domestic supplier of semiconductor sputtering targets, with a significant market share and continuous growth in its ultra-pure target business, which generated 2.333 billion CNY in revenue, accounting for 64.73% of total revenue [7]. - The precision components business saw a substantial revenue increase of 55.53% year-on-year, reaching 887 million CNY, with products covering over 85% of industry needs [7]. Financial Performance - The company's gross margin for 2024 was 28.17%, a decrease of 1.03 percentage points year-on-year, with specific margins for ultra-pure targets, precision components, and other businesses at 31.35%, 24.27%, and 17.92%, respectively [2]. - Research and development expenses for the year were 217 million CNY, with a compound annual growth rate of 32.06% over the past three years, indicating a strong commitment to innovation [2]. - The company forecasts revenues of 4.756 billion CNY, 6.185 billion CNY, and 7.970 billion CNY for 2025, 2026, and 2027, respectively, with net profits projected at 553 million CNY, 737 million CNY, and 980 million CNY [9][11]. Market Position and Growth Potential - The company is positioned to benefit from the accelerated localization of semiconductor equipment, with increasing demand for component replacements and new equipment purchases [7]. - A partnership with KSTE INC. aims to localize the production of electrostatic chucks, tapping into a market projected to grow from 1.724 billion USD in 2023 to 2.426 billion USD by 2030, with a compound annual growth rate of 5% [8]. - The company has made significant breakthroughs in new ultra-pure target products and is expanding its product offerings in precision components, enhancing its competitive edge in the market [3][7].