Sou Hu Cai Jing·2025-12-24 07:19Core Insights - The semiconductor equipment industry continues to show strong performance, with significant gains in related stocks and ETFs [1][3] Group 1: Market Performance - The semiconductor equipment ETF (561980) has seen a year-to-date increase of 64.76%, outperforming other major semiconductor indices [3] - Key stocks such as Huahai Chengke and Tianyue Advanced have risen by over 12% and 7% respectively, indicating robust market activity [1] Group 2: Market Capitalization - As of mid-December 2025, 35 of the top 100 semiconductor companies globally are from Greater China, accounting for approximately 35% of the total market capitalization [3] - The market capitalization of semiconductor companies is subject to fluctuations, reflecting a complex interplay of industry variables rather than just short-term market sentiment [3] Group 3: Industry Trends - The valuation system for semiconductor companies is undergoing significant changes due to the explosive growth in downstream markets like AI and automotive electronics [4] - The demand for high-bandwidth memory (HBM) is surging, and domestic GPU companies are accelerating capital operations through A+H share listings [4] - The global semiconductor manufacturing equipment sales are projected to reach $133 billion in 2025, marking a 13.7% year-on-year increase, with continued growth expected in the following years [4] Group 4: Investment Opportunities - The semiconductor equipment ETF (561980) focuses on the upstream sectors of the semiconductor industry, with nearly 60% of its index comprising equipment [4] - The top ten companies in this ETF, including Zhongwei Company and North Huachuang, represent nearly 80% concentration, making it an ideal tool for investing in a self-controlled semiconductor ecosystem [4]