Sou Hu Cai Jing·2026-01-16 01:44Group 1 - TSMC reported Q4 2025 revenue of $33.67 billion, marking a significant milestone by surpassing NT$1,046.09 billion; net profit increased by 35% year-on-year, achieving growth for the eighth consecutive quarter [1] - TSMC plans to increase its capital expenditure for 2026 to a maximum of $56 billion, a substantial 37% increase from the actual expenditure of $40.9 billion in 2025, setting a new historical high for the company [1] - The semiconductor supply chain has been positively impacted, with strong performance across equipment, packaging and testing services, and materials sectors; the semiconductor equipment ETF (561980) saw a single-day increase of over 4%, reaching a historical high of over NT$3.2 billion [1] Group 2 - As DRAM and NAND architectures evolve towards 3D structures, there will be a significant increase in demand for etching and thin film deposition equipment, with the corresponding service market for 3D DRAM and NAND expected to grow approximately 1.7 times and 1.8 times, respectively [3] - Domestic semiconductor equipment companies, represented by Northern Huachuang and Zhongwei Company, are expected to gradually strengthen their market position [3] - The semiconductor equipment ETF (561980) tracks the CSI index and focuses on domestic equipment, materials, and design leaders, showing higher elasticity with a 94.69% increase since 2025 and over 640% in the previous semiconductor cycle since 2018, leading among similar indices [3] Group 3 - The top ten weighted stocks in the ETF have a concentration close to 80%, covering leading companies in various segments such as Zhongwei Company (etching equipment), Northern Huachuang (multi-field equipment), and SMIC (manufacturing leader), with over 90% of the index comprising equipment, materials, and chip design sectors [5]