Sichuan Haite High-tech Co Ltd

A-share indium phosphide concept stocks rallied collectively on August 6. Bojie Co., Yunnan Germanium each hit their third consecutive daily limit up, Youyan New Materials rose for a second straight day, and Oulai New Materials, Xingye Technology, Suqian Liansheng, and Haite High-Tech were among the top gainers. The catalyst was Nvidia's forecast that global indium phosphide wafer demand will surge roughly 20-fold from 2026 to 2030. However, expanding indium phosphide substrate production is extremely difficult: a single production line requires over 1.2 billion yuan in investment, and the expansion cycle lasts three to five years, meaning new supply will lag far behind demand growth. Indium phosphide is a classic III-V compound semiconductor material with strong suitability for optical communications and high-speed electronic devices. The explosion in AI computing power demand is directly driving continuous expansion of its market size. The supply side faces rigid constraints. Indium is a rare dispersed non-ferrous metal, with about 90 percent of primary indium coming as a byproduct of zinc smelting. China holds the world's largest indium reserves, with proven reserves of about 20,000 tonnes, accounting for 75 percent of global recoverable reserves. China has also imposed export controls on indium phosphide and capped annual indium exports at no more than 30 percent of annual output. Multiple brokerages believe that upstream indium resources are subject to the dual constraints of being a byproduct and under export controls, and that indium phosphide substrates, as the most upstream manufacturing segment of the supply chain, are currently the most critical bottleneck in the AI optical module chain. The supply-demand imbalance is unlikely to ease in the short term, and upstream scarce resources as well as companies with large-size substrate mass production capabilities will benefit over the long term.

Haite High-Tech announced plans to repurchase shares through centralized competitive bidding using its own funds or self-raised funds. The buyback amount will be no less than 50 million yuan and no more than 100 million yuan, with a repurchase price not exceeding 12.5 yuan per share. The buyback period is within three months from the date of board approval, and the repurchased shares will be used to maintain company value and shareholder equity. Based on the upper limit, the company expects to repurchase 8 million shares, accounting for 1.08% of total share capital. Based on the lower limit, it expects to repurchase 4 million shares, accounting for 0.54% of total share capital, and the total number of shares repurchased will not exceed 10% of total share capital. The company stated that this buyback is based on confidence in its future development prospects and recognition of its corporate value, aiming to safeguard the interests of all shareholders, enhance investor confidence, and promote long-term stable development. The plan does not require submission to the shareholders' meeting for approval.

Haite High-Tech announced plans to buy back company shares worth 50 million to 100 million yuan, to be used for maintaining company value and shareholder equity. The buyback price will not exceed 12.5 yuan per share.

Haite High-Tech stated on an interactive platform that the legal representative of Chengdu Haiwei Huaxin Technology has been forcibly removed in accordance with a court assistance enforcement notice, with compulsory enforcement steadily advancing. The company previously recorded an equity impairment and estimated investment loss of 460 million yuan for Huaxin Technology, and disclosed that Qingdao Haiyue, Ma Xiaoli, and other related personnel were not cooperating with the audit, resulting in a net loss attributable to the parent company of 535 million yuan in 2025. Haite High-Tech holds a 31.41% stake in Huaxin Technology and stated it will make every effort to protect shareholder rights. Meanwhile, the company is accelerating its layout in the low-altitude economy, having developed and delivered China's first eVTOL simulator, and is cooperating with leading eVTOL manufacturers and Aoshi Technology. It is estimated that by 2030, China's low-altitude economy market size will reach 2.9 trillion yuan.