光刻胶用光引发剂走向市场，存储短缺或将持续至2028年

Market Performance - The Shanghai Composite Index rose by 1.09% to close at 4165.29 points, while the Shenzhen Component Index increased by 1.75% to 14366.91 points, and the ChiNext Index gained 1.82% to 3388.34 points [1] - The overnight performance of U.S. markets showed the Dow Jones Industrial Average up by 0.17%, the Nasdaq Composite up by 0.26%, and the S&P 500 up by 0.16% [1] - The Philadelphia Semiconductor Index increased by 0.47%, with mixed performances from individual semiconductor stocks such as NXP Semiconductors down by 1.17% and Micron Technology up by 0.23% [1] Industry Insights - Hubei Sanxia Laboratory's significant technological achievement in the preparation of photoinitiators for photoresists was acquired by Hubei Xingfu Electronics for 46.27 million yuan, which is expected to alleviate a critical issue in China's chip manufacturing sector [2] - Micron's VP Christopher Moore indicated that the current storage shortage is unlikely to ease before 2028 due to the complexities of wafer fab expansions and certification processes [2] - A report from brokerages highlighted that the semiconductor industry is experiencing a strong recovery driven by AI computing power, with the A-share electronics sector up by 33.5% year-to-date, ranking fifth among Shenwan's primary industries [2] - The semiconductor industry saw revenue and net profit growth rates of 14.0% and 49.2% year-on-year, respectively, in the first three quarters of 2025, solidifying the foundation for recovery [2] - Looking ahead to 2026, the industry is expected to benefit from the deepening of domestic substitution and the penetration of AI into end-user scenarios, presenting structural opportunities in AI computing power, terminal innovation, and semiconductor equipment materials [2] Related ETFs - The Sci-Tech Semiconductor ETF (588170) tracks the Shanghai Stock Exchange Sci-Tech Board Semiconductor Materials and Equipment Index, focusing on semiconductor equipment (60%) and materials (25%) [3] - The Semiconductor Equipment ETF Huaxia (562590) also emphasizes semiconductor equipment (63%) and materials (24%), benefiting from the domestic substitution trend and advancements in photolithography technology [3]