DKEM(300842)2025-03-06 00:46Group 1: Company Performance and Market Strategy - The company is currently unable to accurately predict the total shipment target for 2025 due to the need for further evaluation of policy impacts and downstream customer operating rates [1] - The primary goal for this year is to focus on serving high-quality leading customers to enhance market share [1] - The company’s semiconductor packaging slurry revenue exceeded 10 million RMB for the first time in 2024, indicating a strong market development effort [2] Group 2: Product Development and Innovation - The company has made significant progress in high copper paste development, with plans for large-scale production expected in the second half of the year [1] - Collaboration with leading customers has led to the development of high copper paste solutions for TOPCon and TBC battery applications [1] - The company is focusing on optimizing core technical capabilities in conductive, thermal, and adhesive materials, aiming for further innovation in semiconductor packaging [2] Group 3: Pricing and Supply Chain - The pricing model for high copper paste is expected to shift from a processing fee model to a direct product pricing model as technology advances and costs decrease [4] - The company utilizes a diverse supplier structure for raw materials needed in high copper paste production, enhancing technical barriers through unique surface treatments and formula enhancements [5] Group 4: Customer Relations and Financial Management - The company maintains stable payment terms for downstream customers, with dynamic assessments based on customer credit status [3]