1. Background and Purpose of the Issuance
1.1 Background of the Issuance
(1) National Industrial Policy Support for the Integrated Circuit Industry
In recent years, the country has continuously prioritized the semiconductor industry as a key area for strategic support. The "14th Five-Year Plan" and the "National Integrated Circuit Industry Development Promotion Outline" clearly state the need to accelerate breakthroughs in core technologies for high-end semiconductor materials and equipment, achieving self-control and domestic substitution of key materials. Additionally, policy documents such as "Made in China 2025," "14th Five-Year New Materials Industry Development Plan," and "First Batch Application Guidance Catalog" have identified high-purity metal targets and other core semiconductor materials as key development areas, providing policy and financial support from R&D to industrial application. With strong national promotion, the domestic semiconductor materials localization process is accelerating, presenting a critical window for technological breakthroughs and industrial upgrades for domestic enterprises. As a leading company in the PVD coating materials field, Acetron has solid technical accumulation and process foundation, enabling it to seize development opportunities and accelerate its strategic layout in high-end semiconductor materials under national industrial policy guidance.
(2) Expansive Market for Ultra-High-Purity Metal Sputtering Targets
The rapid iteration of semiconductor technology and the evolution of advanced processes have raised higher requirements for the purity, stability, and consistency of high-purity metal targets. Currently, the global high-end target market is long dominated by overseas manufacturers, and the domestic market still heavily relies on imports of ultra-high-purity targets. As domestic wafer manufacturing, memory, and packaging capacities continue to expand, the demand for high-purity targets in the semiconductor sector will maintain rapid growth, continuously opening up market space. The company has established a leading advantage in display targets and achieved multiple technological breakthroughs in targets for advanced semiconductor processes, with some products already certified by customers and receiving bulk orders, while a series of products are entering the customer verification stage. In the future, with the implementation of fundraising projects, the company will achieve industrial-scale breakthroughs in ultra-high-purity semiconductor targets, further increasing its domestic market share and actively expanding overseas high-quality customers, opening new growth spaces for the company.
(3) Accelerated Domestic Substitution and Self-Control of Core Semiconductor Materials
As international technological competition intensifies, the global semiconductor industry chain is undergoing reshaping. The security and self-control of supply for key basic materials have become national strategic priorities. High-end semiconductor targets, as critical consumables in integrated circuit manufacturing, directly relate to the continuity and safety of chip production. With national policy guidance, increased capital investment, and enhanced technological capabilities of domestic enterprises, the domestic target industry is entering a rapid development phase. The company has been deeply engaged in PVD coating materials for many years, forming an independent system in core technologies such as high-purity metal refining, plastic processing, and grain orientation control, possessing a first-mover advantage in domestic substitution. This issuance will assist the company in accelerating core technology breakthroughs and large-scale layouts, seizing the strategic window for domestic substitution of high-end targets.