SINOMACH-PI(SZ:002046)2025-11-28 06:24Group 1: Diamond Heat Dissipation Business - The diamond industry is divided into structured and functional applications, with functional applications including heat sinks and optical window pieces. The heat dissipation sector is expected to grow due to high thermal management demands from AI, potentially making diamond a "must-have" material [1] - The company began focusing on functional applications of diamond in 2015, choosing the MPCVD method for its high-quality diamond production and strong compatibility with various product lines [1] - Revenue from heat dissipation and optical windows is expected to exceed 10 million yuan in 2025, with current applications primarily in non-civilian sectors. Civilian applications are in testing phases, with results anticipated in 2026 [1] Group 2: Superhard Materials Grinding Tools - The revenue for superhard grinding tools in 2024 is projected to be around 580 million yuan, with applications in both semiconductor and non-semiconductor sectors (automotive, refrigeration, LED, molds, etc.) [2] - Products for the semiconductor sector have seen significant growth in recent years, indicating a strong market demand [2] Group 3: Industry Challenges and Development - Export control policies are viewed as short-term disruptions, with long-term industry growth dependent on downstream demand [2] - The company has no current plans to invest in the thermal wire method for diamond production, focusing instead on the microwave plasma chemical vapor deposition method since 2015 [2] - Development of high-temperature and high-pressure methods will continue, as there is still market potential in structured applications and room for improvement in production processes [2]