科创半导体ETF（588170）午后回调，AI与国产化驱动行业景气度攀升

Core Viewpoint - The semiconductor materials and equipment sector is experiencing fluctuations, with a notable decline in the Shanghai Stock Exchange's Sci-Tech Innovation Board Semiconductor Materials and Equipment Index, while domestic semiconductor equipment manufacturers are poised for growth due to increasing demand driven by AI and domestic substitution trends [1]. Group 1: Market Performance - As of November 11, 2025, the Sci-Tech Innovation Board Semiconductor Materials and Equipment Index fell by 1.03% [1]. - Among component stocks, ShenGong Co. led with a 20.00% increase, while XinYichang fell by 6.13% [1]. - The Sci-Tech Semiconductor ETF (588170) decreased by 0.87% [1]. Group 2: Industry Trends - The demand for advanced production lines in the semiconductor sector is expected to continue growing, supported by the AI wave and domestic substitution [1]. - Semiconductor equipment is identified as a cornerstone for wafer foundry expansion and a crucial element for achieving self-sufficiency in the supply chain [1]. - Recent institutional insights indicate that the price increase for memory chips in Q4 exceeded expectations, signaling a new capital-intensive phase for overseas AI computing [1]. Group 3: Investment Opportunities - The Sci-Tech Semiconductor ETF (588170) and its linked funds focus on semiconductor equipment (61%) and materials (23%), highlighting the importance of these sectors in the domestic market [2]. - The semiconductor equipment and materials industry is recognized as a key area for domestic substitution, characterized by low domestic replacement rates and high potential ceilings [1][2]. - The sector is expected to benefit from the AI revolution, expansion, technological restructuring, mergers and acquisitions, and advancements in lithography technology [1].