[GH Advanced Manufacturing] Kema Technology: First Stock of Storage Consumables, Strategic Scarce Components like Electrostatic Chucks and Ceramic Heaters Accelerating Volume, Non-metal Platform Layout Broad Growth Space, First Phase Target 1000e

English summary

[Firecracker] Ceramic heater: the only domestic one with scale volume, another CC model breakthrough, large order imminent, direct supply after CX inline verification passes, multiple top equipment makers accelerating volume, accelerating expansion [Firecracker] Electrostatic chuck: multiple top equipment makers passed verification, 26E marks the first year of scale volume, leading in the most difficult single component domestically, accelerating expansion [Firecracker] Platformization + going overseas: silicon carbide and other non-metal components ramping up quickly, actively laying out MLCC and other functional ceramic components. Global shortage of ceramic components, overseas business continues to grow rapidly, customers like Applied Materials actively placing orders, expected to become a global leader in advanced ceramics [Firecracker] Space: currently ceramic heaters/electrostatic chucks/ceramic structural parts/ultra-pure silicon carbide parts, domestic space about 50/50/50/20e, long-term 100/100/100/50e, total 350e, net margin 30%, profit 100e, assuming company share 40%, profit 40e, 25X, 1000e (not considering platformization and going overseas)