I'm LongbridgeAI, I can summarize articles.Yunnan Germanium announced that due to the stock price rising more than 20% for two consecutive days, it constitutes abnormal fluctuations. The company stated that although research institutions have made breakthroughs in 6-inch indium phosphide chip technology, there are currently no plans for large-scale production, and there is uncertainty regarding the evolution towards larger-sized products in the future. The company will consider relevant plans and make public disclosures based on market demand and technical risks
According to the Zhitong Finance APP, Yunnan Germanium (002428.SZ) announced that its stock price deviation exceeded 20% in closing prices over two consecutive trading days (August 19, 2025, and August 20, 2025). This situation falls under the category of abnormal stock trading fluctuations according to the relevant regulations of the Shenzhen Stock Exchange.
The company has learned that a domestic research and development institution recently announced a technological breakthrough in the field of 6-inch indium phosphide epitaxial growth processes. The company would like to highlight the following risks:
(1) The company's holding subsidiary, Yunnan Xinyao Semiconductor Materials Co., Ltd. (hereinafter referred to as "Xinyao"), primarily engages in the production and sales of indium phosphide wafers (substrates) and gallium arsenide wafers (substrates). Similar to other semiconductor materials, III-V compound semiconductor substrates, including gallium arsenide and indium phosphide wafers, also need to evolve towards larger sizes. However, currently, the actual size specifications of indium phosphide wafers used by downstream customers globally are 2-4 inches, with 2 inches and 3 inches being predominant in China. Whether the company can successfully transition to larger size specifications in the future depends not only on technological breakthroughs across the entire industry chain but also on factors such as process reliability, cost and capacity, policies, and market conditions, which carry uncertainties.
(2) Regarding the holding subsidiary Xinyao, after the mass production of indium phosphide wafers in the 2-4 inch specifications, research and development for larger size products has been initiated to meet future market demand. However, there remains significant uncertainty from R&D to large-scale production. Currently, the company and Xinyao do not have specific plans for large-scale production of 6-inch indium phosphide wafers. The company will consider relevant plans under the premise of controllable market and demand risks, as well as technological risks. If there are any relevant plans, the company will disclose them publicly in accordance with regulations