"宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 势银研究： 势银产业研究服务 势银数据： 势银数据产品服务 势银咨询： 势银咨询顾问服务 添加文末微信，加 光刻胶 群 ◆ 图文版 威迈芯材 | 亚智科技 在地缘政治因素牵动下，半导体硬科技产业已经从全球化合作行业成了区域性战略产业。据势 银（ TrendBanK）统计，2024年中国大陆晶圆产能占全球近25%，预测到2029年将达到 31%，成熟制程产能增速显著。这将给中国本土半导体设备厂商带来巨大的市场需求信号。 2024年中国大陆晶圆厂设备市场规模达到412亿美元，领跑全球其他各区域，随着过去三年中 国晶圆制造项目大举扩建和设备提前采购囤货后，2025年中国大陆市场预计将回落5%，达到 390亿美元。 2024年中国大陆设备厂业绩大放异彩的背后是企业技术竞争力和市场开发能力不断精进，当然 也离不开国家和客户内部自上而下的大力支持国产供应链。 | 工艺节点 | 减薄与CMP | 薄膜沉积/ 热处理 | 干法刻蚀与清洗 湿法刻蚀与清洗 | | 离子注入 光刻 | | | 涂胶显影 量检测 晶圆键合 | | | --- | - ...

Core Viewpoint - The article summarizes key insights from the "Photoresist Industry Research Report" published by TrendBank, focusing on the photoresist industry chain, application scenarios, industry barriers, and market competition landscape, which aids companies in making informed strategic decisions [2] Key Data - In 2024, China's wafer production capacity is projected to reach 7.5 million pieces per month, representing a year-on-year growth of 13.86% compared to 2023 [3] - The global display panel market size is expected to reach 1.33 trillion yuan in 2024, with an anticipated growth to over 1.4 trillion yuan in 2025, reflecting a year-on-year increase of 6% [4] - From 2019 to 2024, there have been 58 financing events involving photoresist companies in mainland China, with notable large-scale financing [5] Market Size Projections - The market size for semiconductor photoresists in mainland China is projected to be 4.985 billion yuan by 2025 [6] - The market size for display photoresists in mainland China is expected to reach 10.848 billion yuan by 2025 [7] National Policy Support - National policies are empowering the photoresist industry in four major directions: - Tax incentives for integrated circuit enterprises and projects, encouraging the development of materials and components, including photoresists [8] - Import tax incentives for materials like photoresists to reduce costs and promote industry growth [8] - Investment from the National Integrated Circuit Industry Investment Fund, with over 50 billion yuan planned for key material research and industrialization [8] - Special funding exceeding 2 billion yuan for research and innovation in photoresist technology [8]

Core Viewpoint - The establishment of the first domestic 100-ton semiconductor KrF photoresist resin production line by Eight Billion Space is expected to generate over 100 million yuan in revenue upon reaching full capacity [1][3]. Group 1: Company Overview - Eight Billion Space, a wholly-owned subsidiary of Beijing Eight Billion Space Liquid Crystal Technology Co., Ltd., focuses on semiconductor materials and display panel materials, particularly in photoresist raw materials and photo-sensitive polyimide [5]. - The company has established a comprehensive quality management system covering product development to production control, ensuring the provision of high-quality products and services in the domestic semiconductor materials industry [7]. Group 2: Production Capacity and Plans - Eight Billion Space plans to gradually expand its production capacity based on market conditions, aiming for an annual production capacity of 200-300 tons of high-end photoresist resin within the next five years [2]. - The company has designed two fully autonomous production lines to meet the differentiated needs of the entire industry lifecycle, with expectations of achieving tens of millions in revenue by the second half of 2025 as production capacity is gradually released [3]. Group 3: Production Lines and Technology - The high-flexibility R&D pilot line is designed to meet the "small batch, multiple varieties" R&D iteration and pilot verification needs of domestic photoresist manufacturers and research institutions, enabling rapid switching of different formulations and processes [4]. - The high-capacity mass production line focuses on efficiency and stability, ensuring high consistency between product batches and providing strong material support for the large-scale application of domestic high-end photoresists [4]. Group 4: Product Development and Capabilities - Eight Billion Space has developed multiple technologies for the development of photoresist resins, capable of independently developing KrF and ArF series resins, and has conducted resin procurement verification with several leading companies in the photoresist sector [7]. - The company is also engaged in the synthesis and mass production of electronic-grade monomers and PAG photo acids for KrF, ArF, and PSPI photoresist resins, with capabilities for custom synthesis [10].

Core Viewpoints - The report from TrendBank titled "2025 Semiconductor Equipment Market Research" provides insights into global semiconductor market trends, including wafer fabrication, packaging, and testing equipment market dynamics [2][6]. Group 1: Semiconductor Capacity and Production - In 2024, China's effective wafer capacity is projected to reach 7.5 million pieces per month (equivalent to 8-inch), representing a year-on-year growth of 14%, with advanced process capacity accounting for only 13% [3]. - Advanced process capacity is expected to reach 1 million pieces per month, with a forecasted increase to 17% by 2029 [5]. Group 2: Capital Expenditure Trends - Global wafer fab capital expenditure is expected to remain flat at $166.7 billion in 2024, slightly lower than in 2023, with a projected 4% growth in 2025 due to recovering demand in consumer electronics and industrial equipment, alongside the booming AI and high-performance computing markets [4]. Group 3: Semiconductor Equipment Market Size - The global semiconductor equipment market is anticipated to reach $116.1 billion in 2024, marking a 9% year-on-year increase, with China's demand share expected to be 36.7%, significantly outpacing other countries [6]. Group 4: Testing Equipment Market - The global semiconductor testing equipment market is projected to exceed $7.7 billion in 2024, with testing machines holding a major market share. Local companies like Changchuan Technology have established competitive positions in the semiconductor testing machine and sorting machine sectors, although further advancements are needed in the probe station area for analog and digital chips [9].

Core Viewpoint - Nikon has announced the launch of its first backend lithography system, the digital lithography system DSP-100, which will start accepting orders in July 2025, specifically designed for advanced packaging applications [2][11]. Financial Performance - For the fiscal year 2024, Nikon's lithography business revenue is approximately $1.25 billion. The shipment of integrated circuit lithography machines was 32 units, a decrease of 13 units compared to 2023. The breakdown includes 4 ArFi machines (down 5), 7 ArF machines (down 3), 3 KrF machines (up 1), and 18 i-line machines (down 6). For FPD lithography machines, 28 units were shipped, a significant decrease of 40% compared to 2021 [4][5]. Product Features - The DSP-100 system supports large substrates up to 600 square millimeters and offers a high resolution of 1.0μm L/S. It combines Nikon's high-resolution semiconductor lithography technology with multi-lens technology from its FPD lithography systems, achieving a throughput of up to 50 panels per hour using 510x515mm substrates [9][11]. Market Trends - The demand for high-performance semiconductor devices is rapidly increasing due to the widespread application of IoT and generative AI technologies, particularly in data centers. Advanced packaging technologies, such as chip-on-chip connections, are evolving, leading to finer circuit patterns and larger packaging sizes. Consequently, the demand for panel-level packaging (PLP) using resin or glass substrates is expected to continue growing [6].

Core Viewpoint - The PSPI (Photosensitive Polyimide) market is projected to grow significantly, with a global market size expected to reach $402 million in 2024 and $802 million by 2030, driven by high technological barriers and market monopolization by major players [2][3]. Industry Overview - PSPI is a high-performance polymer material that combines the excellent dielectric properties, mechanical strength, and heat resistance of polyimide with the photosensitivity of photoresists, playing a crucial role in semiconductor packaging and advanced packaging processes [1]. - The PSPI market is dominated by five major companies, including Toray, Fujifilm Electronic Materials, HD Microsystems, Asahi Kasei, and SK Materials, which collectively hold approximately 95% of the global market share [2][3]. Recent Developments - On July 10, 2023, Jilin Aolide Longxin Materials Technology Co., Ltd. commenced a project for the R&D and industrialization of key functional materials for OLED displays, with a funding target of up to 299.86 million yuan for the PSPI materials production base [4]. - In July 2023, Toray announced the successful development of STF-2000, a photosensitive polyimide that can achieve fine processing on films up to 200 micrometers thick, with a line width of 30 micrometers, expected to be mass-produced by 2025 [4]. - Asahi Kasei announced a supply cut for its core PSPI product (PIMEL) in May 2023, indicating potential supply chain disruptions in the market [4]. - Hubei Dinglong Holdings Co., Ltd. reported plans to increase its production capacity, with a target of 40,000 polished hard pads per month by the end of Q1 2025 and the launch of a 1,000-ton PSPI production line [4].

Core Viewpoint - Toray has successfully developed the STF-2000 photosensitive polyimide, which allows for fine processing with a line width of 30 micrometers on films up to 200 micrometers thick, targeting applications in new MEMS devices [1][9]. Group 1: Product Features - STF-2000 can achieve a high aspect ratio of 7 and high-resolution patterns below L/S=4μm, making it suitable for advanced microfabrication [1][9]. - The product complies with EU environmental regulations, being free from N-Methyl-2-pyrrolidone (NMP) and per- and polyfluoroalkyl substances (PFAS) [2]. - The development of thick film versions is underway, with mass production expected by 2025 [2]. Group 2: Technical Advantages - STF-2000 can form complex patterns using standard exposure systems without the need for expensive upgrades to KrF or ArF lithography systems, significantly reducing technical upgrade costs for companies, especially small and medium-sized enterprises [6]. - The product utilizes an alkaline water solution for development, maintaining inherent advantages such as excellent heat and chemical resistance, mechanical properties, insulation, and X-ray resistance [9]. Group 3: Market Position - Toray is recognized as one of the most successful companies in the commercialization of positive photosensitive polyimides, and the new product combines the advantages of both positive and negative photosensitive polyimides [7].

Core Viewpoint - Fujifilm has successfully developed a new type of photoresist specifically for semiconductor manufacturing that does not contain controversial harmful substances, namely per- and polyfluoroalkyl substances (PFAS) [2] Group 1: Product Development - The newly developed fluorinated argon (ArF) immersion photoresist is suitable for negative ArF immersion lithography technology and can form metal wiring at the 28-nanometer level with high yield, targeting automotive and industrial semiconductor applications [2] - Fujifilm plans to accelerate the commercialization process based on customer evaluations [2] Group 2: Financial Performance - In the first quarter of 2025, Fujifilm's semiconductor materials sales reached 63.2 billion yen, representing a year-on-year growth of 3.2% compared to 2023 [3] Group 3: Market Overview - The global photoresist market is primarily dominated by manufacturers such as JSR, Tokyo Ohka, DuPont, Shin-Etsu Chemical, Sumitomo, and Fujifilm, with a higher market concentration in the high-end KrF and ArF sectors [6] - The semiconductor photoresist market in mainland China is projected to reach 4.985 billion yuan by 2025, driven by advancements in lithography process resolution [10]

Core Viewpoint - The article discusses the advancements and financial outlook of Woge Optoelectronics in the glass substrate technology sector, highlighting its strategic positioning in the semiconductor and display industries, particularly in the context of AI computing and advanced packaging technologies [2][4]. Financial Performance - Woge Optoelectronics expects to achieve a revenue of approximately 115 million to 132 million CNY in the first half of 2025, representing a year-on-year increase of 10.36% to 26.68% [2]. - The company anticipates a net loss attributable to shareholders of 65 million to 45 million CNY for the same period, primarily due to increased R&D and management expenses [3][4]. Product Development and Market Position - Woge Optoelectronics is focusing on the application of glass substrates in Mini/Micro LED displays, 5G-A/6G communications, optical modules, and advanced semiconductor packaging [4]. - The company’s subsidiary, Hubei Tongge Micro, has entered small-batch supply for its TGV glass substrate products, collaborating with industry leaders to overcome production standardization challenges [3][4]. Recent Developments - Woge Optoelectronics has made significant strides in 2025, including partnerships in AI chip development and the launch of innovative glass-based Mini LED products [5]. - The company has announced the construction of a new automated production facility to support AMOLED display technologies, with a total investment of 628 million CNY [5].

Core Viewpoint - The article highlights the rapid growth of the AR/VR market in China, projecting a CAGR of 41.1% from 2024 to 2029, making it the largest market globally, surpassing the US and Western Europe [2]. Industry Overview - The AR/VR technology is increasingly penetrating various sectors such as education, healthcare, entertainment, and industrial design, driven by the rising demand for intelligent living and immersive experiences [2]. - By 2029, China's total investment in AR/VR is expected to exceed $10.5 billion, accounting for 26.5% of the global market, second only to the US [2]. Technological Advancements - The development of AR/VR devices is moving towards greater intelligence, with advancements in scene recognition and content generation, leading to more personalized user experiences [2]. - Key hardware development directions include lightweight design, high resolution, high refresh rates, and low power consumption [2]. Company Developments - Sunyu Aolai Micro-Nano Optics has officially moved its first core lithography machine to its Lingang project, which will produce millions of semiconductor optical products annually for AR/VR, smart vehicles, and consumer electronics [2][3]. - The company has signed strategic cooperation agreements with leading firms in the new materials sector, enhancing collaboration in micro-nano optics and integrated circuit equipment [3]. Product Innovations - Sunyu Aolai is focused on developing surface relief grating waveguide (SRG) processing technology for AR glasses, with capabilities to independently process various grating shapes [4]. - The company has established a comprehensive NIL (Nanoimprint Lithography) process and material system, providing mature solutions in NIL and dry etching [5]. Market Impact - The migration of the core lithography machine marks a significant transition from planning to mass production, filling a gap in the domestic high-end semiconductor optical industry and boosting its development [5].