Financial Performance - In the first three quarters of 2025, the company achieved a revenue of ¥8,273,220,959.41 and a net profit attributable to shareholders of ¥901,103,576.55 [2] - As of June 30, 2025, the company had unfulfilled contracts for integrated circuit and compound semiconductor equipment exceeding ¥3.7 billion (including tax) [5] Product Development - The company launched its first 12-inch silicon carbide (SiC) substrate processing pilot line on September 26, 2025, marking a significant advancement in domestic equipment development with 100% localization [2][3] - The pilot line covers the entire process from crystal growth to detection, utilizing domestically developed equipment, thus establishing a complete closed loop for 12-inch SiC substrates [3] Capacity Expansion - The company is actively expanding its SiC production capacity, with a project in Shangyu aiming for an annual output of 300,000 SiC substrates and an 8-inch SiC substrate industrialization project in Penang, Malaysia [4] - Additionally, a project in Yinchuan is set to produce 600,000 8-inch SiC substrates annually, enhancing the company's technological and scale advantages in the SiC substrate field [4] Semiconductor Equipment Progress - The company has successfully delivered its self-developed 12-inch atmospheric silicon epitaxy equipment to leading domestic clients, achieving international advanced levels in key performance indicators [6] - The company is also advancing the market promotion of new products such as the 12-inch dry-in-dry-out edge grinding machine and the 12-inch double-sided thinning machine [6] Component and Material Development - The subsidiary, Jinghong Precision, is focusing on the localization of core semiconductor components, enhancing manufacturing capabilities and product quality [8] - In the semiconductor consumables sector, the company has achieved domestic substitution for quartz crucibles, leading the market share and gradually increasing it [10] Client Base and Market Position - The company has established a strong reputation among high-end clients in the semiconductor and photovoltaic industries, maintaining long-term strategic partnerships with notable firms [10] - Major clients include well-known companies such as Longi Green Energy, Tongwei Co., and JinkoSolar, contributing to the company's industry influence [10]