Key Highlights - Dongfang Guoxin's Inner Mongolia Intelligent Computing Center project has been partially completed and delivered to customers [1] - Dawi Technology's rental service business has a minimal impact on the company's performance [1] - Jin Haitong plans to invest no more than 400 million yuan in the construction of the Shanghai Lanbo Semiconductor Equipment Manufacturing Center [1] - Hongsheng Huayuan is expected to win a bid for approximately 621 million yuan for a Southern Power Grid project [1] - Dongwang Times intends to acquire 51% of Zhejiang Keguan Polymer Co., Ltd. for 194 million yuan [1] - State Grid Information Communication's net profit for 2025 is projected to be 678 million yuan, a year-on-year decrease of 16.91% [1] - Quzhou Dongfeng plans to repurchase shares worth between 50 million to 100 million yuan [1] - Jieshun Technology's actual controller Liu Cuiying plans to reduce her stake by no more than 2.8% [1] - Pingzhi Information intends to raise no more than 1 billion yuan through a private placement for the construction of a domestic intelligent computing center [1] - Longci Technology plans to raise no more than 760 million yuan for a chip inductor manufacturing project [1] Project Investments - Shoulu Hotel plans to invest 281 million yuan in a new hotel property project [1] - Jin Haitong intends to invest no more than 400 million yuan in the Shanghai Lanbo Semiconductor Equipment Manufacturing Center [1] Contract Awards - Teruid's expected bid for a Southern Power Grid project is valued at 170 million yuan [1] - Tongda Co., Ltd. is expected to win a bid for a Southern Power Grid project worth 120 million yuan [1] - Hongsheng Huayuan is expected to win a bid for approximately 621 million yuan for a Southern Power Grid project [1] - Roman Co., Ltd. is part of a consortium that won a bid for a 50MW distributed wind power project [1] Performance Reports - Jingchen Co., Ltd. reported a net profit of 871 million yuan for 2025 [1] - Daotong Technology reported a net profit of 935 million yuan for 2025, a year-on-year increase of 45.89% [1] - State Grid Information Communication's net profit for 2025 is projected to be 678 million yuan, a year-on-year decrease of 16.91% [1] Equity Transfers - Huibo Yuntong plans to transfer 25.5% of its stake in Huibo Yuannian to its controlling shareholder [2] - Dongwang Times intends to acquire 51% of Zhejiang Keguan Polymer Co., Ltd. for 194 million yuan [3] - Xinxin Co., Ltd. plans to use no more than 700 million yuan to acquire 70% of Huilian Electronics [3] Share Buybacks - Quzhou Dongfeng plans to repurchase shares worth between 50 million to 100 million yuan [1] - Other companies are also engaging in share buybacks, including Huibo Yuntong and Jieshun Technology [3] Other Fundraising Activities - Guangji Pharmaceutical plans to raise no more than 600 million yuan through a private placement [3] - Pingzhi Information intends to raise no more than 1 billion yuan for the construction of a domestic intelligent computing center [3] - Jiangtong Equipment plans to raise no more than 1.882 billion yuan for the acquisition of Jiangying Company [3] - Longci Technology plans to raise no more than 760 million yuan for a chip inductor manufacturing project [3] - Unisplendour plans to raise no more than 5.57 billion yuan for the acquisition of a 6.98% stake in Xinhua San [3]

Core Viewpoint - The company plans to invest in the "Shanghai Lanbo Semiconductor Equipment Manufacturing Center" project in Qingpu District, Shanghai, with a total investment not exceeding 400 million yuan [1] Group 1: Project Details - The project will cover an area of no more than 55,000 square meters, integrating production, research and development, and office functions [1] - The center will include production workshops, a comprehensive office building, and supporting facilities, along with the purchase of advanced production and research equipment [1] Group 2: Strategic Importance - This investment is a prudent decision based on the company's development strategy and business layout, aimed at enhancing the manufacturing capabilities of product testing and sorting machines [1] - The project is expected to further strengthen the company's comprehensive service capabilities and core competitiveness [1]

证券代码：603061 证券简称：金海通 公告编号：2026-017 天津金海通半导体设备股份有限公司 关于全资子公司投资建设上海澜博半导体设备 制造中心建设项目的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 投资标的名称：上海澜博半导体设备制造中心建设项目（以下简称"新 建半导体设备制造中心"、"本项目"）； 投资金额：不超过 4 亿元； 已履行的审议程序：本次投资已经天津金海通半导体设备股份有限公 司（以下简称"公司"）2026 年 2 月 11 日召开第二届董事会第二十五次会议 审议通过，本项目在公司董事会的审批权限内，无需提交公司股东会审议。 其它需要提醒投资者重点关注的风险事项： 1、 投资项目审批风险：本次投资项目需获得政府相关部门关于土地使用权、 环境影响评估等事项的审批或备案。若公司未能按预期完成上述审批或备案，可 能导致项目建设进度不及预期，进而对项目投资效益产生不利影响； 2、 投资项目实施进度可能不及预期的风险：公司已对本次投资项目的实施 与管理进行了合理规划和设计，但项目进度安排 ...

Group 1 - Unisplendour Corporation has decided to terminate its plan to issue H-shares and list on the Hong Kong Stock Exchange due to strategic development considerations [2] - Yuandong Biotech is participating in a follow-up procurement for 13 products, with expected sales revenue of approximately 651 million yuan in 2024, accounting for 48.25% of total revenue [3] - Blue Lithium has terminated its participation in the GreenMei Indonesia project due to strategic adjustments by GreenMei, with no significant impact on its operations [4] Group 2 - Jinhaitong plans to invest up to 400 million yuan in the construction of a semiconductor equipment manufacturing center in Shanghai, covering an area of 55,000 square meters [5] - Kaiying Network's subsidiary has signed a settlement agreement with Legend IP, which is expected to positively impact profits by approximately 200 million yuan [6] - Newray plans to acquire 70% of PCB tool company Huilian Electronics for no more than 700 million yuan, enhancing its market position in the PCB tool sector [7] Group 3 - Longbai Group intends to acquire a 5.46% stake in Yunnan Guotai for 234 million yuan [8] - Dawi Technology's Zhangbei data center project is set to be completed by October 2025, primarily providing customized standard data center environments [9] Group 4 - Guobang Electronics reported a net profit of 508 million yuan for 2025, a year-on-year increase of 4.72%, despite a revenue decline of 7.92% [11] - Daotong Technology achieved a net profit of 935 million yuan in 2025, reflecting a significant year-on-year growth of 45.89% [12] - Jingchen Co. reported a net profit of 871 million yuan for 2025, with a growth of 6% year-on-year [13] Group 5 - Qizhou Dongfeng plans to repurchase shares worth between 50 million and 100 million yuan to implement an employee stock ownership plan [17] - Keri Technology's shareholders plan to reduce their holdings by a total of up to 3.13% of the company's shares [19] Group 6 - Roman Co. signed a 260 million yuan contract for a wind power project, with the company’s share of the contract amounting to approximately 190 million yuan [21] - Zhongke Haixun is expected to win projects totaling approximately 288 million yuan [22] - Shan Jian Co. won four construction projects with a total value of 4.834 billion yuan [23]

Group 1 - The core point of the article is that Jinhaitong (603061) plans to invest in a semiconductor equipment manufacturing center in Shanghai, with a total investment not exceeding 400 million yuan [1] - The project will integrate production, research and development, and comprehensive office functions into a single operational center [1] - The construction period for the project is set for 36 months, and funding will be sourced through self-owned funds and bank loans [1] Group 2 - The investment has already been approved by the company's board of directors and does not require shareholder approval [1] - The project is currently in the preliminary preparation stage and will need to undergo relevant approval or filing procedures [1]

Core Viewpoint - The company plans to invest in the "Shanghai Lanbo Semiconductor Equipment Manufacturing Center Project" in Qingpu District, Shanghai, with a total investment not exceeding 400 million yuan [1] Group 1: Project Details - The project will integrate production, research and development, and comprehensive office functions into a production operation center [1] - The construction period for the project is set for 36 months [1] - Funding for the project will be raised through self-owned funds and bank loans in stages [1] Group 2: Approval and Status - The investment has been approved by the company's board of directors and does not require shareholder meeting approval [1] - The project is currently in the preliminary preparation stage and requires relevant approval or filing procedures [1]

Core Viewpoint - The demand for semiconductor packaging and testing equipment is continuously growing, leading to significant sales increases for the company's testing sorting machines [1] Group 1: Company Performance - The company is expected to achieve a net profit attributable to shareholders of 160-210 million yuan in 2025, representing a year-on-year increase of 103.87%-167.58% [1] - The non-recurring net profit attributable to shareholders is projected to be 155-205 million yuan, with a year-on-year increase of 128.83%-202.64% [1] Group 2: Market Demand - The demand for testing sorting machines is driven by advancements in computing power, automotive applications, and advanced packaging [1] - The global System on Chip (SoC) testing machine market is expected to grow from 6.8-6.9 billion USD in 2025 to 8.5-9.5 billion USD in 2026 [1] - The storage testing machine market is projected to increase from 2-2.1 billion USD in 2025 to 2.2-2.7 billion USD in 2026 [1] Group 3: Product Synergy - The demand for sorting machines is expected to rise in tandem with testing machines, particularly in the finished product testing phase [1]

证券研究报告：电子 | 公司点评报告 股票投资评级 资料来源：聚源，中邮证券研究所 强劲增长 l 投资要点 三温、大平台超多工位测试分选机持续放量。根据 SEMI 数据， 2025 年全球半导体测试设备销售额预计激增 48.1%至 112 亿美元，封 装设备销售额增长 19.6%至 64 亿美元。2026、2027 年测试设备销售 额预计继续增长 12.0%和 7.1%，封装设备销售额预计增长 9.2%和 6.9%。驱动力来自器件架构复杂度提升、先进/异构封装加速渗透， 以及 AI 与 HBM 对性能的严苛要求。公司所在的半导体封装和测试设 备领域需求持续增长，三温测试分选机及大平台超多工位测试分选机 （针对于效率要求更高的大规模、复杂测试）等需求持续增长，公司 测试分选机产品销量实现较大提升，经财务部门初步测算，预计2025 年度实现归母净利润 1.6-2.1 亿元，同比增加 103.87%-167.58%；扣 非归母净利润 1.55-2.05 亿元，同比增加 128.83%-202.64%。 算力、汽车、先进封装等发展催涨分选机需求。Chiplet 架构在 AI 训练芯片、HPC 处理器中的广泛应用，使得 ...

证券研究报告：电子 | 公司点评报告 股票投资评级 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 277.08 | | --- | --- | | 总股本/流通股本（亿股）0.60 | / 0.42 | | 总市值/流通市值（亿元）166 | / 116 | | 52 周内最高/最低价 | 303.69 / 70.00 | | 资产负债率(%) | 17.7% | | 市盈率 | 205.24 | | 第一大股东 | 崔学峰 | 研究所 分析师:翟一梦 SAC 登记编号:S1340525040003 Email:zhaiyimeng@cnpsec.com 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 金海通(603061) 强劲增长 l 投资要点 三温、大平台超多工位测试分选机持续放量。根据 SEMI 数据， 2025 年全球半导体测试设备销售额预计激增 48.1%至 112 亿美元，封 装设备销售额增长 19.6%至 64 亿美元。2026、2027 年测试设备销售 额预计继续增长 12.0%和 7.1%，封装设备 ...

Summary of Conference Call Records Industry Focus - The focus is on the semiconductor equipment industry, particularly the trend of "de-Japanization" in response to recent political developments in Japan and China [1][2]. Key Companies and Insights 1. Testing Machines - **Longchuan, Huafeng, and Jingzhida** are recommended as leading domestic testing machine manufacturers. The current localization rate for testing machines in China is below 30%, with storage and SOC testing machines nearly at 0%. Japanese company Advantest holds a market share of approximately 60%, indicating significant room for replacement [1]. 2. Huafeng Measurement and Control - The company has a leading position in GPU testing machines regarding testing channel count, frequency, and parallel processing capabilities. Small-scale production validation has been completed, with a high likelihood of securing orders in the near future. It is expected to achieve substantial order volumes by 2026, benefiting from the lack of involvement in storage, resulting in a smaller price increase so far [2]. 3. Qiangyi Co., Ltd. - The company has successfully entered the market with major clients in the computing chip sector. It has completed the delivery or initial validation of 2.5D MEMS probe card products for HBM, NOR Flash, and DRAM. With overseas probe card shortages, the company is expected to see significant performance growth in 2026, benefiting from the increase in storage and domestic computing [2]. 4. Longchuan Technology - The company is deeply integrated with major clients and is expected to see a surge in storage testing machine demand. Revenue from related products is projected to reach 15 billion this year. The GPU testing machine holds a significant market share in H-series computing chip testing and is exclusively supplied to Alibaba's Pingtouge. The company is expected to benefit from three major growth drivers: storage, commercial aerospace, and domestic computing [2]. 5. Jingzhida - The company leads in the high-speed FT testing machine sector and is actively validating its products with clients. It is expected to see a doubling of orders and revenue this year, driven by the two storage sectors, with SOC testing machine prototypes anticipated to be launched this year [2]. 6. Jinhaitong - Specializes in translation-type sorting machines, with significant revenue growth from the launch of the 9000 series three-temperature sorting machines. The company is also developing high-end sorting machines for AI chips, which are expected to see large order breakthroughs as downstream computing chips increase in volume. Revenue is projected to reach 14 billion with a profit of 5 billion by 2026, making it a relatively undervalued player in the equipment sector [3]. 7. Xidian Co., Ltd. - A leading domestic manufacturer of probe stations, currently validating products with major domestic clients. The company is expected to secure bulk orders within the year [3]. Additional Insights - The overall sentiment in the semiconductor equipment industry is optimistic, with a strong emphasis on domestic production capabilities and the potential for significant market share gains as companies pivot away from reliance on Japanese suppliers [1][2][3].