It is exposed that the purchase of ASML lithography machine for high-end photoresist R & D Jingrui shares strong trading limit

SMM: on the morning of September 29th, Jingrui shares announced that the company intends to issue convertible bonds of no more than 550 million yuan to unspecified objects for research and development of high-end photoresist for integrated circuit manufacturing, annual production of 90, 000 tons of semiconductor-grade high-purity sulfuric acid for VLSI, supplementary liquidity or repayment of bank loans, with an investment of 313 million yuan, 72 million yuan and 165 million yuan respectively. (note: the total investment of the three major projects is 841 million yuan, of which 550 million yuan is raised.)

At the same time, Jingrui also disclosed that in order to carry out the above-mentioned research and development project of high-end photoresist for integrated circuit manufacturing, it is proposed to adopt Singtest Technology PTE. LTD. Imported ASML lithography equipment from SK Hynix (, the world's second largest memory chip manufacturer, namely SK Hynix, with a total price of US $11.025 million. The news caused concern in the capital markets.

Jingrui shares rose strongly by the daily limit this morning, up 19.99% to 42.86 yuan per share as of press time.

A reporter from the "Science and Technology Innovation Board Daily" learned from industry insiders that the above price (US $11.025 million) is the price of a lithography machine, that is, the purchase quantity of Jingrui shares should be one. As of the press release, the company did not give a positive response.

There is no doubt that the lithography machine purchased by Jingrui Co., Ltd. will be used for the production of photoresist products. According to a reporter from Science and Technology Innovation Board Daily, photoresist has always been called the crown pearl in electronic chemicals, which shows its importance and technical difficulty. At present, some products in the field of I-line photoresist can be supplied by domestic suppliers to meet the needs of 0.35um process, and there are also individual Krf photoresist to achieve technological breakthroughs, which can be supplied in small quantities to meet the needs of customers' 0.18um process, but there is still a technology gap between them and mainstream international manufacturers. At this stage, foreign leading manufacturers have achieved a stable supply of Arf photoresist, for the most advanced 7nm, 5nm process of EUV photoresist also achieve mass production supply.

The announcement shows that Jingrui has passed the agent Singtest Technology PTE. on Sept. 8. LTD. Quote to SK Hynix for the ASML lithography machine and win the bid on September 24th, 2020. The company said that the purchase of ASML lithography equipment can ensure the technical advanced nature and equipment of the above-mentioned high-end photoresist R & D project and put into production on schedule, which has a positive impact on speeding up the progress of the project.

It is understood that Jingrui photoresist products are produced by its subsidiary Suzhou Ruihong, which has been producing photoresist on a large scale for nearly 30 years, and the products are mainly used in the field of semiconductors and flat panel displays. According to the financial report, Suzhou Ruihong achieved revenue of 349 million yuan and 113 million yuan respectively in 2019 and January-June 2020, while net profit in the same period was 38.622 million yuan and 9.6655 million yuan respectively.

In terms of high-end photoresist, it is reported that the company's high-end KrF photoresist is in the pilot stage; ultraviolet negative photoresist, broad-spectrum positive photoresist and some high-end products such as g-line photoresist have been supplied to the market for decades, and I-line photoresist has been supplied to domestic head chip companies in recent years.