把握“国产替代、自主可控”核心主线，关注半导体设备ETF(159516)

Core Viewpoint - The semiconductor industry is experiencing a strong performance driven by domestic policies promoting "indigenous substitution and self-control," with significant market opportunities remaining in semiconductor equipment due to low domestic production rates in key areas [1][3]. Group 1: Industry Developments - The Sci-Tech Innovation 50 Index has shown resilience, with the semiconductor equipment ETF (159516) rising by 3.43% [1]. - Recent domestic initiatives include ongoing antitrust investigations against NVIDIA to regulate market competition and the initiation of anti-dumping investigations on imported American simulation chips to mitigate external trade risks [1]. - Current domestic production rates for critical semiconductor equipment, such as etching machines and thin-film deposition, remain below 20%, indicating substantial future market potential for domestic semiconductor equipment [1]. Group 2: Demand and Investment Trends - Semiconductor equipment manufacturers are expected to benefit from the growing demand for AI and High-Performance Computing (HPC), with strong investments in advanced process technologies driven by AI chip demand [3]. - A structural supply contraction and capacity mismatch in high-end storage chips are anticipated to create a long-term shortage, further strengthening the investment logic for high-bandwidth memory and 3D NAND, which is expected to drive related equipment investments [3]. - The market is shifting focus from previously hot sectors like computing and chips to upstream semiconductor equipment, suggesting potential investment opportunities in the semiconductor equipment ETF (159516) [3].