半导体设备半年报：华海清科费用增长影响短期盈利能力，新厂区启用助力产能释放

Core Insights - The AI chip industry has seen a continuous increase in prosperity since 2025, with high investment levels in the semiconductor equipment sector [1] - Global semiconductor equipment company revenues are projected to grow by 12% year-on-year in 2025, with a 24% increase in Q2 2025 [1] - The demand for high-performance SoC testing machines and storage testing machines has significantly increased due to the complex requirements of AI chips [1] - The overseas semiconductor equipment market has experienced a 40% year-on-year growth driven by AI-related investments, particularly in testing and packaging equipment [1] - In contrast, the Chinese market saw a slight decline of 1% year-on-year in H1 2025, although the domestic semiconductor equipment localization rate increased by 6 percentage points to 21% [1] Company Performance - In H1 2025, several semiconductor equipment manufacturers showed varied performance, with nine front-end equipment companies achieving revenue growth [2] - Notable companies with the highest net profit growth include Weidou Nano (348.95%), Changchuan Technology (98.73%), Huafeng Measurement Control (74.04%), and Zhongke Fei Measurement (73.01%) [3] - Leading companies like Beifang Huachuang and Zhongwei Company reported net profit growth rates of 14.97% and 36.62%, respectively [3] - Huahai Qingke recorded a revenue of 1.95 billion yuan, a 30.28% increase, but its net profit growth was lower at 16.82%, indicating a decline in profitability [3] Product Development - Huahai Qingke's main product, CMP equipment, has seen continuous upgrades, with the Universal-H300 polishing system receiving bulk orders [4] - The company has achieved a high market share for its 12-inch and 8-inch CMP equipment among leading domestic clients [4] - The 12-inch ultra-precision wafer thinning machine, Versatile-GP300, has gained market recognition, leading to a significant increase in orders [4] - The company is expanding its wafer regeneration capacity with a project in Kunshan, aiming for a total capacity of 400,000 pieces per month [4]