Recently, the superhard materials sector has continued to strengthen in the capital markets, becoming a hot spot for investors' attention. Several diamond-themed stocks, including Huanghe Xuanfeng, Power Diamond, Huifeng Diamond, and Sifangda, have surged one after another, repeatedly hitting their daily trading limits. Trading volume has significantly increased, and market enthusiasm is rapidly heating up. Industry insiders generally believe that this round of market rally is not driven by short-term speculation, but rather by the combined forces of policy direction and industry fundamentals. With the upgrading of export policies, breakthroughs in the application of diamond-functional materials, and growing expectations for industry consolidation all converging, the market has begun to systematically reevaluate this sector. As the "industrial teeth" of high-end manufacturing, the strategic value of superhard materials is steadily becoming more prominent alongside the upgrading of industrial structures and the transformation of the manufacturing sector.

From a logical perspective, the trigger for this round of market rally stems from the supply-side shock caused by the escalation of export controls. China holds a relatively high share in exports of diamond materials, cemented carbides, and precision grinding tools—areas where the relevant policy adjustments have directly heightened the scarcity of companies with superior resource attributes and advanced technological barriers. Some analysts believe that this policy signal This means that high-end, ultra-hard materials will shift from a "cost-based competition" to a "strategic reserve" mindset, with their industry positioning expanding beyond the traditional grinding tools segment into cutting-edge manufacturing fields such as semiconductors, optoelectronics, and aerospace. In other words, diamonds are transitioning from being symbols of industrial hardness to becoming crucial functional materials that underpin the future high-performance manufacturing system.

In fact, the reevaluation of the diamond industry is rooted in its functional potential for cross-industry penetration. Over the past decade, diamonds have primarily been used in mechanical processing fields such as cutting, drilling, and polishing. However, with the further development of their unique properties—such as high thermal conductivity, excellent insulation, and superior charge carrier mobility— The application is gradually expanding into high-tech fields such as electronic devices, thermal management, quantum information, optical windows, and even biosensing. 。

With Diamond Heat Sink For instance, diamond has demonstrated tremendous application potential in 5G RF power amplifiers, LiDAR systems, CPO optical modules, and SiC power devices. Particularly in the third- and fourth-generation semiconductor fields, diamond stands out as the only natural material currently capable of significantly reducing thermal resistance and extending device lifespan, thanks to its exceptional thermal conductivity exceeding 2000 W/m·K. Companies such as Huanghe Xuanfeng, Qianyuan Xinzhuan, and Bozhi Jinzuan have already begun scaling up production of diamond-based heat sinks, with some products already entering the verification phase within industry chains like Huawei and Sanan Optoelectronics.

Meanwhile, diamonds are High-end Chip Manufacturing and Precision Machining The roles within the industry are also undergoing a transformative shift. As chip manufacturing processes advance into cutting-edge nodes, requirements for material hardness and stability—critical in steps like wafer dicing, photomask cleaning, and CMP polishing—are rapidly increasing. Ultrafine-grained diamond micropowders, CVD diamond films, and polycrystalline diamond composites are gradually replacing traditional silicon carbide and alumina abrasives, emerging as indispensable high-end consumables in wafer-processing applications. Companies such as Sifangda and Wald are accelerating the expansion of their product lines toward semiconductor equipment materials, with a notable rise in the proportion of high-value-added products within their revenue structures. This trend is reshaping the profit dynamics of the superhard materials industry.

The deeper logic lies in the fact that, The cutting-edge status of diamond as a "fourth-generation semiconductor" material is being simultaneously reinforced by both policy initiatives and the research ecosystem. The bandgap width of diamond semiconductor crystals reaches 5.47 eV, and their theoretical breakdown electric field strength is more than three times that of SiC. Thanks to their exceptional resistance to high temperatures and radiation, they are an ideal foundational material for aerospace applications, power electronics, and extreme-environment electronics. In recent years, many regions across the country have already established a foothold in key technological areas such as diamond epitaxy, ion implantation doping, and metal electrode contact, creating a systematic approach that seamlessly integrates research with industrial development. Huanghe Xuanfeng has achieved phased breakthroughs in diamond single-crystal substrates, while Sifangda has made significant progress in CVD film deposition technology, and Huifeng Diamond has also notched up notable advancements in high-pressure synthesis processes. With the guidance of the national new materials program and key special projects under the Ministry of Industry and Information Technology, diamond is poised to emerge as the next-generation semiconductor strategic material—following silicon carbide and gallium nitride.

Besides the electronics field, diamond is Optics and Precision Manufacturing领域 Its value has also been reassessed. Diamond window materials, renowned for their exceptionally high light transmittance and outstanding damage resistance thresholds, are widely used in infrared detection, laser systems, and satellite communication windows. In the past two years, several companies have accelerated efforts to industrialize diamond optical components, with some products already demonstrating the capability to replace traditional materials such as sapphire and ZnSe. Meanwhile, Diamond Film Its chemical inertness and high hardness give it unique advantages in medical devices, microfluidic chips, and bio-detection applications, while several emerging companies are already exploring its potential for implantable electronics and sensors. These cutting-edge applications are gradually shifting diamond away from its traditional perception as a "cutting tool," propelling it toward a dual identity as both a functional material and a strategic material.

From an industry perspective, investor sentiment in the capital markets reflects that the sector is entering a phase of consolidation and structural upgrading. For a long time, China's superhard materials industry has been characterized by being "small and fragmented," with core technological capabilities largely developed independently by individual companies. However, as export policies become more stringent and downstream demand diversifies, firms equipped with integrated competencies—such as crystal growth, CVD equipment, and proprietary powder preparation technologies—will be the first to reap the benefits. For instance, Huanghe Whirlwind has already made inroads into diamond-based thermal management materials through a joint venture establishing Qianyuan Xinzhuan, while Lisheng Diamond is accelerating its efforts to upgrade single-crystal growth equipment. Meanwhile, Huifeng Diamond has achieved significant progress in the precision grading and functionalization of diamond powders. Overall, the trend toward vertical integration across the industry chain is becoming increasingly evident, as traditional tool-grade materials gradually transition toward higher-value-added products targeting the electronics and optics sectors. This synergistic interplay between technology and industry is providing robust logical support for a renewed market valuation.

Overall, the collective surge in diamond-themed concept stocks this round not only reflects short-term market enthusiasm but also highlights the underlying logic behind the industry's long-term value reassessment. Whether it’s the enhanced resource attributes driven by export policy shifts, the rapid expansion of functional applications, or the emerging trends of industry chain integration and high-end positioning, The value of diamond has transcended the realm of "ultra-hard materials," emerging as a critical enabler for high-end manufacturing, semiconductors, optoelectronics, and next-generation energy systems. With the resonance between the capital market and industry cycles, diamond is poised to evolve from being the "industrial tooth" into the true "strategic hub" of China's new materials ecosystem.

In this context, The 9th International Carbon Materials Conference and Industry Exhibition (Carbontech 2025) will provide a crucial platform for companies across the diamond industry's upstream and downstream sectors. The exhibition is not only an opportunity to showcase technology, but also the perfect time for major enterprises, research institutions, equipment suppliers, and end-user customers to collaborate and exchange ideas. Through the exhibition, companies can tap into global innovation resources, partner with upstream and downstream players, and jointly drive the advancement of both technology and industry.