王雨婷表示，芯碁微装拟在H股上市，是公司迈向全球化发展的关键一步，通过融资扩能、国际布局、 估值优化，夯实其在直写光刻领域的领先地位，同时也有望为市场投资者创造更具确定性的价值回报。 泛半导体业务的放量，成为公司业绩增长的第二曲线。先进封装成为国内芯片产业提升性能的关键路 径，芯碁微装聚焦中后道封装领域，WLP2000晶圆级直写光刻设备、PLP3000板级直写光刻设备已进入 头部封测企业，获得订单并批量交付，主要用于Cowos-L、SoW、CIS等大尺寸芯片封装场景。 上海大学悉尼工商学院讲师王雨婷对《证券日报》记者表示，我国AI算力与先进封装长期发展逻辑未 变，HPC/AI芯片对高阶HDI等封装载板的量产需求，将持续为芯碁微装带来广阔的市场空间。 1月20日，合肥芯碁微电子装备股份有限公司(以下简称"芯碁微装")发布2025年年度业绩预告。报告期 内，该公司预计归属于母公司所有者的净利润为2.75亿元至2.95亿元，同比增长71.13%至83.58%；预计 归属于母公司所有者的扣除非经常性损益的净利润为2.64亿元至2.84亿元，与上年同期相比，将增加 1.15亿元至1.35亿元，同比增长77.70%至91 ...

Group 1 - The company reported a revenue of 934 million yuan for the first three quarters of 2025, representing a year-on-year increase of 30.03% [1] - The net profit attributable to shareholders reached 199 million yuan, up 28.20% year-on-year, while the net profit excluding non-recurring items was 193 million yuan, reflecting a 30.45% increase [1] - In Q3 2025, the company achieved a revenue of 279 million yuan, a year-on-year growth of 3.98% but a quarter-on-quarter decline of 32.25% [1] Group 2 - The company's gross margin in Q3 2025 was 42.15%, an increase of 2.64 percentage points year-on-year, while the net profit margin was 20.34%, up 0.08 percentage points year-on-year [1] - The company has focused on production assurance, product development, and expanding overseas markets, contributing to the growth in profitability [1] - The company’s expenses in Q3 2025 showed varied changes, with sales, management, R&D, and financial expense ratios at 7.64%, 3.65%, 9.82%, and -1.84% respectively, indicating a mix of increases and decreases in expense ratios [1] Group 3 - The AI industry is driving a recovery in the PCB sector, with a projected 46% year-on-year increase in global AI server shipments in 2024 [3] - The company has been operating at full capacity since March 2025, with a record monthly shipment exceeding 100 units [3] - The company is expanding its global strategy, particularly in Southeast Asia, with significant revenue contributions from its operations in Thailand and strong order growth in emerging markets like Vietnam and Malaysia [3] Group 4 - The company maintains a "buy" rating, anticipating continued growth in the PCB market driven by AI technology and electric vehicle demand [4] - Future net profits are projected to be 278 million yuan, 455 million yuan, and 601 million yuan for 2025, 2026, and 2027 respectively, with corresponding EPS estimates of 2.11, 3.45, and 4.56 yuan per share [4] - The company is expected to benefit from the demand for HPC and advanced packaging in its semiconductor business [4]