Xuan Gu Bao·2025-12-30 00:55Group 1 - SMIC announced a merger plan to issue 547 million shares to acquire 49% equity in SMIC North for a transaction price of 40.6 billion yuan [1] - The issuance targets include major investors such as the National Integrated Circuit Industry Investment Fund, Beijing Integrated Circuit Manufacturing and Equipment Investment Center, and others [1] - SMIC North was established in July 2013 as a joint venture between SMIC and the Beijing government, focusing on 40/28nm Polysion and 28nm HKMG processes with a design capacity of approximately 70,000 12-inch wafers per month [1] Group 2 - According to research from firms like China Merchants Securities, global wafer fab capital expenditure is expected to continue growing through 2026, with domestic advanced and mature process expansions anticipated [2] - The merger and AI demand growth are expected to drive global storage and advanced process capacity expansion, with a potential acceleration in domestic storage and advanced process expansions in 2026-2027 [2] - Domestic equipment manufacturers are likely to benefit from a favorable order outlook, with companies like North Huachuang, Zhongwei Company, and others positioned well in the market [2]