国君机械|半导体设备进口受阻或加剧,国产化有望加速

Investment Rating - The report suggests that the import of US semiconductor equipment may face further obstacles, which could accelerate the replacement by domestic equipment [1]. Core Insights - The Biden administration is expected to announce new export restrictions on semiconductor technology to China, potentially affecting up to 200 Chinese chip manufacturers, thereby increasing the difficulty for domestic manufacturers to obtain US equipment [1]. - Advanced packaging is highlighted as a key method to enhance chip performance, potentially allowing domestic manufacturers to overcome limitations in advanced process nodes, particularly if imports of 7nm chips are restricted [2]. Summary by Sections - US Export Restrictions: The report indicates that the upcoming restrictions could significantly impact the import of critical semiconductor manufacturing equipment, which is predominantly supplied by US companies like Applied Materials, Lam Research, and KLA [1]. - Domestic Equipment Replacement: The anticipated restrictions are likely to drive domestic semiconductor manufacturers to accelerate the adoption of local equipment, thereby fostering the growth of the domestic semiconductor industry [1]. - Advanced Packaging Development: The report emphasizes that advanced packaging techniques are becoming increasingly important for enhancing chip performance, especially as traditional scaling methods face diminishing returns [2].