Dongbei Securities: AI Cooling Drives the Revaluation of the Diamond Industry, Domestic Substitution Accelerates High-End Development

Northeast Securities published a research report stating that the mass production of diamond-copper composite materials has optimal performance elasticity in the short term. The core focus for the medium to long term is the domestic substitution of CVD single crystal equipment and large-sized wafers. Companies certified through top computing power supply chains are expected to experience a revaluation. The growth prospects in the diamond thermal dissipation sector are clear, supported by multiple advantages such as the iteration of computing power hardware, generational performance superiority of materials, and domestic supply advantages in the industry, all driving substantial expansion of the market scale. Traditional superhard material and equipment manufacturers, alongside new material startups, are forming a differentiated competitive landscape through three distinct pathways.