智通财经网·2025-10-16 07:13Group 1 - The core viewpoint is that factory and cleanroom engineering are essential components for the expansion of the AI computing power industry chain, with cleanrooms providing controlled environments necessary for the production of precision products such as wafers, chip substrates, packaging, consumer electronics, and server assembly [1] - Investment in factory and cleanroom engineering typically accounts for 10-20% of total investment, and the global demand for cleanroom engineering is rapidly increasing, particularly in North America, which is identified as the market with the greatest potential [1][3] - The surge in investment intensity has led to saturation among primary suppliers involved in factory construction, and the long training cycle for new engineers makes it difficult to meet the short-term spike in demand, resulting in an inevitable overflow of orders [1][3] Group 2 - Supply chain security and AI computing power are the two core factors driving global chip expansion, with the mature process chip expansion being driven by risk-averse demand and the advanced process chip expansion being driven by AI computing power demand [2] - TSMC holds 90% of the global advanced process capacity and is significantly accelerating capacity expansion in Taiwan and the United States through substantial capital expenditures [2] Group 3 - Investment recommendations highlight Shenghui Integrated (603163.SH) and Yaxiang Integrated (603929.SH) as key players in the cleanroom engineering sector, with Shenghui expected to benefit from expanding overseas business and significant growth in revenue and profit [4] - Shenghui's new orders increased by 70% in the first half of 2025, with a 63% increase in orders on hand compared to the end of the previous year, and a projected net profit growth of 24.1% to 47.9% from 2025 to 2027 [4] - Yaxiang is benefiting from the restructuring of the global semiconductor supply chain and has secured major overseas wafer factory projects, with expectations of continued significant orders due to ongoing demand for semiconductor capacity expansion in Singapore [4]