平安证券研报指出，南大光电2025H1实现归母净利润2.08亿元，yoy+16.30%；每10股派发现金红利1.80元（含税）。氟类特气方面，公司乌兰察布大规模三氟化氮等核心含氟特气项目持续推进，特气业务规模将实现进一步扩大；氢类特气方面，ARC、三氟化硼等新产品抓住IC机遇，收入增长显著；半导体前驱体材料方面，多款产品实现稳定量产，持续导入集成电路量产制程，业务增长后劲足；光刻胶及配套试剂方面，掌握全流程材料自主生产技术，多款产品在关键客户的测试进展顺利，前期取得订单的ArF光刻胶产品保持连续稳定供应，多款产品通过测试后有望逐步导入客户、提供业绩增量。行业层面，终端半导体和面板行业基本面转暖、销售规模增势向好、景气度提升，公司特气和前驱体业务收入有望受益于下游行业上行周期带来的需求增长。半导体行业正处景气上行周期，公司各项目持续推进，多款高端高壁垒半导体材料量产销售，业绩有望维持较好增势，维持“推荐”评级。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.