On October 31, Dinglong Co., Ltd. released its latest research summary. As a premier domestic supplier of CMP (Chemical Mechanical Planarization) polishing pads, the company has significantly capitalized on the flourishing semiconductor industry cycle. This success is attributed to its diverse product range, independent development of core technologies, and strategic capacity expansion. In the first three quarters of 2025, the company's semiconductor business revenue witnessed a 41% year-on-year increase, contributing to 57% of the total revenue. Specifically, revenue from CMP polishing pads surged by 52% year-on-year, while revenue from polishing slurry and cleaning solutions rose by 45% year-on-year. Additionally, the revenue from the semiconductor display materials business climbed by 47% year-on-year. The high-end wafer photoresist business is also advancing swiftly, with the Qianjiang Phase II project, boasting an annual production capacity of 300 tons of KrF/ArF photoresist, set to commence trial operations in the fourth quarter.