Jin Rong Jie·2025-07-25 07:54Group 1 - The semiconductor sector is experiencing a strong upward trend, with stocks like ASMC hitting a 20% limit up, leading the market [1] - The International Semiconductor Industry Association predicts that global semiconductor manufacturing equipment sales will reach a historical high of $125.5 billion in 2025, a year-on-year increase of 7.4% [1] - TSMC has raised its revenue growth target for 2025 to approximately 30%, significantly higher than the previous expectation of around 20%, driven by strong demand for 3nm and 5nm technologies [1] Group 2 - The Hong Kong semiconductor market is also active, with leading stocks like Hua Hong Semiconductor and SMIC rising nearly 6% and 4% respectively, reaching new highs in about four months [1] - The global semiconductor industry is currently in a cyclical upturn, with high levels of investment in computing power and optimistic earnings outlooks from foundry leaders [1] - Over 10 domestic semiconductor companies have submitted IPO applications in Hong Kong, covering various segments such as chip design, materials, equipment, and packaging testing [2] - The upward industry cycle and policy focus on supply chain security are driving sustained demand and investment activities in the domestic semiconductor sector [2]