Sou Hu Cai Jing·2026-01-13 01:44Group 1 - The semiconductor industry is benefiting from a global upcycle, with significant growth expected through 2026, particularly in semiconductor equipment and materials [1][2] - The Semiconductor Industry Association (SIA) reported that global semiconductor sales reached $75.3 billion in November 2025, marking a 3.5% increase from October and a 29.8% increase year-over-year [1][10] - China's semiconductor sales amounted to $20.23 billion in November 2025, reflecting a year-over-year growth of 22.9% [1][10] Group 2 - The demand for memory products, particularly DRAM and NAND Flash, is on the rise, with contract prices increasing significantly; DRAM contract prices are expected to rise by 55-60% in Q1 2026 [1][7] - Domestic storage testing and packaging factories are experiencing high order volumes, leading to increased capacity utilization and a price hike of approximately 30% [1][2] - The semiconductor materials market is projected to grow to $70 billion globally by 2025, with a 6% year-over-year increase, while China's key materials market is expected to reach 174.1 billion yuan, growing by 21.1% [2][25] Group 3 - The semiconductor equipment ETF (561980) has seen a net inflow of nearly 200 million yuan over the last three trading days, with a one-year index increase of 97.33% [1][3] - The top ten holdings in the semiconductor equipment index focus on leading companies in the sector, with a concentration of nearly 80% [3][19] - The domestic semiconductor industry is expected to accelerate the expansion of production capacity, particularly in storage wafer manufacturing, driven by strong demand from AI applications [2][24]