半导体设备事件催化不断，关注半导体设备ETF（159516）

Core Viewpoint - The semiconductor equipment ETF (159516) has seen a significant increase of 9.55% in a single day and a total rise of 21.39% over the past five days, driven by short-term catalysts such as domestic lithography machine testing and Huawei's AI computing power announcement, which boosts semiconductor demand. However, the long-term trend is focused on domestic substitution in the semiconductor equipment sector, with potential breakthroughs expected in semiconductor manufacturing in the context of AI technology competition, suggesting investors should maintain attention on this sector [1][5]. Industry Insights - The investment logic in the semiconductor equipment industry is closely tied to domestic substitution and self-sufficiency, particularly in critical areas like lithography and etching machines, where the domestic production rate is below 20%. Chinese companies are making progress from zero to one in these areas, gradually replacing foreign manufacturers. Domestic wafer fabs are shifting from hoarding imported equipment to sourcing from local suppliers, with capital expenditure continuing to rise and orders transitioning from overseas giants to domestic firms, indicating a vast potential for domestic production and a significant volume-price increase effect [3]. Market Performance - Currently, the global semiconductor sales remain at a high peak, with July's sales showing a year-on-year growth of 20.6%. Overseas AI capital expenditure is expected to support the semiconductor industry's prosperity. On the policy front, domestic policies are focusing on supply chain security and self-sufficiency, reducing external dependencies and trade risks, and emphasizing "technology as the forefront" to promote modernization in China. Overall, the long-term logic for semiconductor equipment remains positive, and investors are encouraged to look for opportunities to buy the semiconductor equipment ETF (159516) on dips [5].