Research Report Gold Mining | Huaxi Securities: Maintains "Buy" Rating on Jie美 Technology, Plans to Acquire Aifos to Enter Ultra-Precision Machining Equipment Sector

Gelonghui March 17 — Huaxi Securities research report states that Jiemi Technology plans to acquire EFOCUS to enter the ultra-precision machining equipment sector, with downstream industry prospects improving. EFOCUS Technology’s main products include ion beam polishing machines, magnetorheological polishing machines, small grinding head polishers, and milling machines, among other ultra-precision processing equipment. The ion beam polishing machine is EFOCUS’s core flagship product, capable of achieving ultra-smooth surfaces at the angstrom level (0.1 nanometers). EFOCUS’s products are widely used in semiconductor, aerospace, large-diameter telescope lens manufacturing, and high-end scientific optical device processing fields. The EFOCUS team has strong technical expertise, with senior management having participated in projects such as the “02” special project. The ion beam polishing machine is a core product of EFOCUS and can be applied in semiconductor, aerospace, and other fields. It is believed that if the acquisition proceeds smoothly and with the rapid development of the AI industry, the company is expected to achieve rapid growth in its main MLCC products, and ultra-precision processing equipment could open a second growth curve. The future growth potential of the company is optimistic. Due to the acquisition not yet being finalized, the 2025-2027 profit forecasts are maintained, and a “Buy” rating is upheld.