鼎龙股份向不特定对象发行可转债申请文件 审核问询函的回复 股票简称：鼎龙股份 股票代码：300054 湖北鼎龙控股股份有限公司 与 招商证券股份有限公司 关于公司向不特定对象发行可转换公司债券 《审核问询函》 （审核函〔2024〕020022 号）的 回复（修订稿） 保荐机构（主承销商） 二零二四年十二月 7-1-1 鼎龙股份向不特定对象发行可转债申请文件 审核问询函的回复 深圳证券交易所： 根据贵所于 2024 年 9 月 4 日出具的审核函〔2024〕020022 号《关于湖北鼎 龙控股股份有限公司申请向不特定对象发行可转换公司债券的审核问询函》（以 下简称"审核问询函"）的要求，湖北鼎龙控股股份有限公司（以下简称"公司"、 "发行人"、"鼎龙股份"）已会同招商证券股份有限公司（以下简称"招商证券" 或"保荐机构"）、湖南启元律师事务所（以下简称"启元律所"或"发行人律师"）、 立信会计师事务所（特殊普通合伙）（以下简称"立信所"或"申报会计师"）对 审核问询函的有关事项进行了认真核查与落实。现就审核问询函涉及问题的核查 和落实情况逐条说明如下（本回复报告中的简称与《募集说明书》中的简称具有 相同含义，本 ...

证券代码：300054 证券简称：鼎龙股份 公告编号：2024-091 湖北鼎龙控股股份有限公司 关于控股股东部分股份解除质押及质押延期购回的公告 截至本公告披露日，公司控股股东朱双全先生及其一致行动人所持质押股份 情况如下： 本公司及董事会全体人员保证信息披露的内容真实、准确和完 整，没有虚假记载、误导性陈述或者重大遗漏。 湖北鼎龙控股股份有限公司（以下简称"公司"）于近日收到本公司控股股 东、共同实际控制人之一--朱双全先生的函告，获悉朱双全先生所持有本公司的 部分股份办理了解除质押及质押延期购回的业务，具体事项如下： 一、控股股东股份解除质押的基本情况 | 股东 | 是否为控股股东 | 本次解除质 占其所 | 占公司 | 起始 | 解除 | | | --- | --- | --- | --- | --- | --- | --- | | | 或第一大股东及 | 押股份数量 持股份 | 总股本 | | | 质权人 | | 名称 | 其一致行动人 | （股） 比例 | 比例 | 日 | 日期 | | | 朱双全 | 是 | 5,150,000 3.70% | 0.55% | 2023- | 2024- | 华 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [4] Core Viewpoints - The company has achieved significant breakthroughs in temporary bonding adhesives and high-end wafer photoresists, securing orders from major domestic wafer manufacturers [4][5][6] - The company has developed over 20 types of high-end wafer photoresists, with two products already validated and ordered, while eight others are in testing [5] - The company’s production capacity for high-end photoresists is currently 30 tons per year, with plans for a second phase to reach 300 tons annually [5] - The successful order for temporary bonding adhesives marks a shift from reliance on imports to domestic production, enhancing the company's position in advanced packaging materials [6] Financial Summary - The company’s projected revenues for 2024, 2025, and 2026 are 32.73 billion, 39.27 billion, and 46.73 billion yuan respectively, with EPS of 0.54, 0.68, and 0.86 yuan [9] - The current price-to-earnings (P/E) ratios are 51.2, 40.7, and 32.1 for the years 2024, 2025, and 2026 respectively [9] - The company is expected to see a revenue growth rate of 22.7% in 2024, followed by 20.0% in 2025 and 19.0% in 2026 [11] - The net profit is projected to increase significantly from 222 million yuan in 2023 to 505 million yuan in 2024, with further growth to 635 million yuan in 2025 and 804 million yuan in 2026 [11]

Core Viewpoint - Dinglong Co., Ltd. has achieved a significant market breakthrough by receiving its first orders for high-end wafer photoresists, marking a milestone in its semiconductor materials business [1][3]. Group 1: Company Developments - Dinglong's subsidiary, Qianjiang Dinglong, has successfully passed customer validation for its immersion ArF and KrF wafer photoresist products, receiving orders from two major domestic wafer manufacturers totaling over one million RMB [1][2]. - The company has developed over 20 high-end wafer photoresist products, with eight currently in the customer testing phase and others in research and internal testing [2][3]. - Dinglong is in the process of issuing convertible bonds to raise up to 910 million RMB, with 480 million RMB allocated for the annual production of 300 tons of KrF/ArF photoresist [4]. Group 2: Market Position and Strategy - The recent orders for high-end photoresists enhance Dinglong's innovation capabilities in the semiconductor and related sectors, solidifying its competitive advantage in the domestic market for innovative materials [3]. - The company has shifted its industry classification from "C26 Chemical Raw Materials and Chemical Products Manufacturing" to "C39 Computer, Communication and Other Electronic Equipment Manufacturing" to better align with its focus on semiconductor innovation materials [4]. - Dinglong's production capacity includes a first-phase line capable of producing 30 tons of high-end photoresist annually, with a second-phase line under construction to produce 300 tons [4]. Group 3: Industry Insights - The global semiconductor photoresist market is valued at $2.547 billion in 2023 and is projected to reach $4.375 billion by 2030, with a compound annual growth rate (CAGR) of 8.28% [5]. - ArF and KrF photoresists currently hold a combined market share of 67.8% within the semiconductor photoresist market [5]. - As competition increases in the semiconductor photoresist market, prices are expected to decline, with Dinglong's pricing strategy reflecting a discount based on current import prices [5][6].

证券代码：300054 证券简称：鼎龙股份 公告编号：2024-090 二、公司高端晶圆光刻胶的进展情况 作为各类核心"卡脖子"进口替代类创新材料的平台型公司，公司已布局 20 余款高端晶圆光刻胶，均为客户主动委托开发的型号，其中，多款在国内还未突 破。截至目前，公司已有 2 款产品通过客户验证测试并取得采购订单，另外 8 款 产品处于客户测试阶段，整体测试进展顺利，剩余款均处于研发及内部测试中。 基于公司在有机合成（单体、PAG、Quencher 等光刻胶小分子成分开发平 台）、高分子合成（光刻胶树脂开发平台）、OLED 面板光刻胶和半导体先进封 装光刻胶领域的开发积累、工程装备设计等方面形成的技术优势，以及公司通过 半导体 CMP 制程工艺材料与主流晶圆制造厂建立的紧密合作关系，公司针对 KrF、ArF 光刻胶的技术要求设计单体结构、树脂结构、配方等，提高纯化、过 滤、混配等工艺等级，开发出 KrF、ArF 光刻胶专用树脂及其高纯度单体、光致 产酸剂等关键材料以及光刻胶产品，实现从关键材料到光刻胶产品自主可控的 全流程国产化，符合下游客户产业链供应链安全自主可控的需求。 在产能建设方面，公司潜江一期年产 ...

湖南启元律师事务所 关于湖北鼎龙控股股份有限公司 向不特定对象发行可转换公司债券的 补充法律意见书（二） 2024年11月 致：湖北鼎龙控股股份有限公司 湖南启元律师事务所（以下简称"本所"）受湖北鼎龙控股股份有限公司（以 下简称"鼎龙股份"、"发行人"或"公司"）委托，担任发行人申请向不特定对象发 行可转换公司债券（以下简称"本次发行"）的专项法律顾问。 1 发行的必备法律文件，随同其他申报材料一起上报，并承担相应的法律责任。 本补充法律意见书仅供发行人为本次发行之目的使用，未经本所书面同意，不 得用作任何其他目的。 2 | 一、《二轮问询函》问题 | 1 4 | | --- | --- | | 二、《二轮问询函》问题 | 2 25 | 正 文 一、《二轮问询函》问题1 本所已就本次发行事宜出具了《湖南启元律师事务所关于湖北鼎龙控股股份 有限公司向不特定对象发行可转换公司债券的律师工作报告》（以下简称"《律 师工作报告》"）、《湖南启元律师事务所关于湖北鼎龙控股股份有限公司向不 特定对象发行可转换公司债券的法律意见书》（以下简称"《法律意见书》"）、 《湖南启元律师事务所关于湖北鼎龙控股股份有限公司向不特定 ...

鼎龙股份向不特定对象发行可转债申请文件 审核问询函的回复 股票简称: 鼎龙股份 股票代码: 300054 湖北鼎龙控股股份有限公司 与 招商证券股份有限公司 关于公司向不特定对象发行可转换公司债券 《第二轮审核问询函》 二零二四年十一月 l 鼎龙股份向不特定对象发行可转债申请文件 审核问询函的回复 深圳证券交易所： 根据贵所于 2024 年 11 月 20 日出具的审核函〔2024〕020031 号《关于湖北 鼎龙控股股份有限公司申请向不特定对象发行可转换公司债券的第二轮审核问 询函》（以下简称"二轮审核问询函"）的要求，湖北鼎龙控股股份有限公司（以 下简称"公司"、"发行人"、"鼎龙股份"）已会同招商证券股份有限公司（以下 简称"招商证券"或"保荐机构"）、湖南启元律师事务所（以下简称"启元律所" 或"发行人律师"）、立信会计师事务所（特殊普通合伙）（以下简称"立信所" 或"申报会计师"）对审核问询函的有关事项进行了认真核查与落实。现就二轮 审核问询函涉及问题的核查和落实情况逐条说明如下（本回复报告中的简称与 《募集说明书》中的简称具有相同含义）： 2 鼎龙股份向不特定对象发行可转债申请文件 审核问询函的回 ...

湖北鼎龙控股股份有限公司（以下简称"公司"）于2024年11月20日收到深 圳证券交易所（以下简称"深交所"）出具的《关于湖北鼎龙控股股份有限公司 申请向不特定对象发行可转换公司债券的第二轮审核问询函》（审核函〔2024〕 020031号）（以下简称"二轮审核问询函"）。 公司收到二轮审核问询函后，按照要求会同相关中介机构就二轮审核问询函 提出的问题进行了认真研究和逐项落实，现根据相关要求对二轮审核问询函回复 进 行 公 开 披 露 ， 具 体 内 容 详 见 公 司 于 2024 年 11 月 27 日 在 巨 潮 资 讯 网 （www.cninfo.com.cn）披露的《湖北鼎龙控股股份有限公司和招商证券股份有 限公司关于公司向不特定对象发行可转换公司债券第二轮审核问询函的回复（豁 免版）》等相关文件，公司将按照要求及时将书面回复材料报送深交所。 公司本次向不特定对象发行可转换公司债券事项尚需通过深交所审核，并获 得中国证券监督管理委员会（以下简称"中国证监会"）做出同意注册的决定后 方可实施，最终能否通过深交所审核，并获得中国证监会同意注册的决定及其时 间存在不确定性。公司将根据该事项的进展情况及时履行 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has received its first customer order for temporary bonding adhesive, marking a significant step in its strategic transformation [8][9] - The annual production capacity for temporary bonding adhesive exceeds 100 tons, which is expected to meet ongoing customer demand [9] - The company has successfully developed key technologies for high-temperature resistance and low volatility in its products, reducing reliance on imports [9] - The company aims to establish itself as a platform for innovative materials that can replace imports, particularly in the semiconductor advanced packaging materials sector [10][16] Financial Performance - Revenue projections for 2024 to 2026 are estimated at 32.18 billion, 38.19 billion, and 44.61 billion yuan, with growth rates of 20.7%, 18.7%, and 16.8% respectively [11] - Net profit for the same period is projected to be 481 million, 662 million, and 821 million yuan, with growth rates of 116.8%, 37.5%, and 24.1% respectively [11] - The company has shown a significant year-on-year increase in net profit, with a 82.7% increase in 2022 and a forecasted 116.8% increase in 2024 [17] Market Position - The company has established itself as a primary supplier of CMP polishing pads to several core domestic wafer manufacturers, indicating a deepening market penetration [16] - The company is actively developing a range of semiconductor materials, including CMP polishing liquids and advanced packaging materials, which are expected to drive future growth [9][10]

Industry Development - Qianjiang has leveraged its local salt, halogen, and oil-gas resources to extend its chemical industry into the optoelectronic information sector, gaining approvals for national and provincial-level industrial clusters [1] - The region has been recognized as a National Torch Microelectronic Materials Specialty Industrial Base, a Provincial Innovative Industrial Cluster, and a Provincial Strategic Emerging Industrial Cluster [1] Company Achievements - Dinglong has successfully developed and produced integrated circuit CMP polishing pads and independently developed semiconductor photoresist [1] - Dinglong's 300-ton photoresist production line is set to commence operations in Q1 2025 [1] - Beixu Electronics has achieved a production capacity of 6,000 tons for panel-use photoresist and is investing in new production lines for core photoresist raw materials [1] Technological Breakthroughs - The new production lines for core photoresist raw materials will address the bottleneck of relying on foreign supplies for key materials in integrated circuit photoresist [1]