Dinglong Hits All-Time High on New Photoresist Orders from Chip Leaders

Select Language:

Dinglong’s stock hit a new all-time high after the Chinese electronic chemical company received additional orders for high-end photoresist products from leading wafer manufacturers.

The company’s shares closed up 4.7% at CNY78.99 (approximately $11.67) in Shenzhen today, after earlier surging as much as 17.3% to a new intraday peak of CNY88.55.

Recently, two major wafer producers placed nearly 1,000 more gallons of photoresists from Dinglong’s facility in Qianjiang, located in central China’s Hubei province. The orders came as a result of the product’s stable performance and effective application, although the clients’ identities were not disclosed.

Since the Qianjiang plant began operations in March, with an annual capacity of 300 tons, it has supplied hundreds of gallons of immersion argon fluoride (ArF) and krypton fluoride (KrF) photoresists to facilitate mass production by these wafer manufacturers.

The company secured contracts for eight high-end photoresist products—four ArF and four KrF types—from several major wafer fabrication plants across China. Five of these contracts were signed in the second quarter alone, with more orders expected for other products within the year.

Development efforts include over 40 advanced wafer photoresists, with nearly 30 already undergoing verification and testing by clients. The most rapidly progressing products have entered the sample testing stage, with gallon-scale testing underway. Additionally, the company has initiated the development and manufacturing of various lithography auxiliary materials.

These ArF and KrF photoresists are tailored through a customized R&D and manufacturing process that involves significant technical challenges. They are primarily used in producing high-performance memory chips—such as 3D NAND and DRAM—and next-generation logic chips.

Originally focusing on printer consumables, the company entered the electronic chemicals sector in 2012 and launched its photoresist business in 2022. The Qianjiang facility is China’s first comprehensive, full-process mass production plant dedicated to high-end chip photoresists.

Globally, the high-end photoresist market remains largely controlled by Japanese and U.S. firms. Chinese KrF photoresists account for only around 3-5% of the domestic market, while ArF photoresists make up less than 1%. KrF resists are mainly utilized for chips in the 130 to 250 nanometer range, whereas ArF resists are used for wafers with features of 14 nanometers and below.