DING LONG(SZ:300054)2025-09-03 10:59Revenue Structure - In the first half of 2025, the company achieved a revenue of 1.732 billion CNY, a year-on-year increase of 14.00% [2] - Semiconductor business generated 943 million CNY, with a year-on-year growth of 48.64%, accounting for 54.75% of total revenue [2] - Printing consumables business revenue was 779 million CNY [2] R&D Investment - R&D investment for the first half of 2025 was 250 million CNY, a 13.92% increase year-on-year, representing 14.41% of total revenue [2] - The company emphasizes that high R&D investment is crucial for innovation and product development [2] CMP Polishing Pads - The company is the only domestic supplier mastering the entire process of CMP polishing pad technology [3] - Strong supply chain management and continuous improvement in production processes enhance product quality and profitability [3] CMP Polishing Liquids - In the first half of 2025, the company achieved stable sales growth in CMP polishing liquids, with successful product combinations recognized by major domestic clients [4] - The combination of polishing and cleaning liquids is expected to drive revenue growth [4] Semiconductor Display Materials - Sales revenue for semiconductor display materials reached 271 million CNY in the first half of 2025, a year-on-year increase of 61.90% [5] - The company aims to leverage the growing demand in the OLED display panel market to sustain revenue growth [5] High-end Wafer Photoresists - The company has developed nearly 30 high-end wafer photoresist products, with over 15 samples sent for client validation [6] - The production capacity for high-end photoresists is being expanded, with plans for mass production by the end of 2025 [6] Advanced Packaging Materials - The company is focusing on advanced packaging materials with low self-sufficiency and high technical difficulty, aiming for significant market growth [7] - Increased product offerings and customer coverage are driving order growth in the first half of 2025 [7] Patent Portfolio - As of June 30, 2025, the company holds 1,301 patents, including 1,052 invention patents [8] - Continuous efforts in patent database enhancement and risk analysis support the company's innovation and market expansion [8]