Glinda (603931) Daily Limit Comprehensive Analysis: Driving Factors and Market Impact

This analysis is based on the Glinda (603931) daily limit list information released by WaitInvest [1] on November 27, 2025. Glinda’s daily limit on that day was mainly driven by factors such as optimized corporate governance, completion of fundraising investment projects, performance growth, and increased popularity of the photoresist concept; there was a significant net inflow of main funds in the past three days, and market attention increased, reflecting investment opportunities under the trend of localization of semiconductor materials.

Glinda is an A-share listed company focusing on the R&D, production, and sales of ultra-high-purity wet electronic chemicals [0]. It was founded in 2001 and listed in 2020 [0]. Wet electronic chemicals account for 98.16% of its main business [0]. Its core product, TMAH developer, has reached SEMI G4 level [0] and is applied in LCD/OLED display panels and semiconductor chip manufacturing [0]. Its related concepts include electronic chemicals, solar energy, photoresist concept, etc. [0].

1. Optimized Corporate Governance
   : Revised information disclosure and related party transaction systems to enhance transparency [4];
2. Completion of Fundraising Investment Projects
   : Improved capital utilization efficiency to support future development [4];
3. Performance Growth
   : Significant growth in revenue and net profit in H1 2025 [0];
4. Industry Concepts
   : Benefited from the popularity of photoresist concept stocks and the trend of semiconductor material localization [3].
   In addition, the net inflow of main funds in the past three days was 38.8145 million yuan [2], and institutional research was active [5], further increasing market attention.

• Glinda’s daily limit reflects the market’s increased confidence in domestic semiconductor material enterprises, especially the localization substitution opportunities in the wet electronic chemicals sector [3];
• The superposition of multiple favorable factors (governance + performance + concepts + capital) highlights the company’s investment value [0][2][5];
• Supported by policies for semiconductor material localization, leading enterprises in sub-sectors are expected to continue to gain market favor [3].

• Industry Competition
  : Intensified competition in the wet electronic chemicals field may squeeze profit margins [0];
• Raw Material Price Fluctuations
  : Changes in key raw material prices affect cost control [0];
• Technological Iteration
  : Rapid development of semiconductor technology requires continuous R&D investment to maintain competitiveness [0];

• Policy Support
  : Favorable domestic semiconductor industry policies and strong demand for localization substitution [3];
• Market Demand
  : Growth in demand for display panels and semiconductor chip manufacturing drives demand for wet electronic chemicals [0];
• Technical Advantages
  : Core products reach international advanced levels and have localization substitution capabilities [0];

Glinda (603931)'s daily limit is the result of the combined effect of multiple favorable factors, reflecting the market’s recognition of the company’s improved governance, performance growth, and industry trends. In the process of semiconductor material localization, the company is expected to seize development opportunities with its technical advantages and product layout, but it needs to pay attention to risks of industry competition and cost fluctuations.