---
title: "CITIC Securities: Gives DKEM (300842) a \"Buy\" rating, target price of 120 yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288550342.md"
description: "CITIC Securities gives DKEM a \"Buy\" rating with a target price of 120 yuan. The report points out that DKEM's photovoltaic slurry business is globally leading, and breakthroughs in silver reduction technology are expected to bring performance increments; the storage chip business, as the second main business, will benefit from the industry's high prosperity cycle, with significant revenue growth expected from 2026 to 2028. The company is expanding capacity through private placements and bringing in experts, focusing on the research and development of advanced packaging technology to support breakthroughs in AI computing power"
datetime: "2026-06-03T09:30:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288550342.md)
  - [en](https://longbridge.com/en/news/288550342.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288550342.md)
generator: "portal-rs"
---

# CITIC Securities: Gives DKEM (300842) a "Buy" rating, target price of 120 yuan

Recently, Guotai Junan Securities released an in-depth research report, giving DKEM a "buy" rating with a target price of 120 yuan.

Guotai Junan Securities believes that DKEM is the first listed company in China whose main business is photovoltaic and semiconductor conductive pastes, and its photovoltaic paste business is globally leading. In addition, the company is a pioneer in promoting the mass production application of technologies such as LECO to enhance efficiency, and through high copper paste technology, it has strategically positioned itself in the low-silver market, collaborating with leading customers like JinkoSolar to advance mass production practices. In this regard, Guotai Junan Securities stated that DKEM's paste business is rapidly progressing in breakthroughs in low-silver technology and industrial exploration, and is expected to significantly contribute to performance growth in the future.

DKEM's storage chip business is positioned as its second main business. Guotai Junan Securities believes that DKEM's storage chip business is not a traditional distributor model, but rather a module factory driven by integrated design technical capabilities based on customer final demands, specialized wafer sorting and secondary classification technical capabilities, and advanced packaging technical capabilities. With the unfolding of the super cycle in the storage chip industry, the mismatch between supply and demand for consumer-grade storage products has greatly released profit elasticity for domestic module manufacturers.

In this regard, the institution predicts that DKEM will fully benefit from the industry's high prosperity cycle, with its storage business having the ability to continuously contribute to performance growth across cycles. It is expected that DKEM's storage chip business revenue will grow by 200% year-on-year from 2026 to 2028, with a gross margin of 57%. The company's 2026 private placement project will drive capacity expansion for packaging and testing and advanced packaging technology research and development, with the support of international authoritative experts to assist in breakthroughs in advanced packaging technology related to AI computing power, focusing on the research and development of advanced packaging platform technology, with an emphasis on next-generation packaging core processes such as Hybrid Bonding and Through-Silicon Via (TSV)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**