Xinda Securities·2025-03-31 09:33Investment Rating - The industry investment rating is "Positive" [2] Core Viewpoints - The SEMICON China 2025 exhibition showcased a significant focus on domestic semiconductor equipment, with over 1,400 global companies participating, highlighting advancements in semiconductor equipment and materials [6][7] - The domestic semiconductor equipment sector is experiencing breakthroughs, with new products being launched that align with the expansion needs of local wafer fabs, driven by increasing demand due to U.S. semiconductor sanctions [36] - The emergence of new players like Xinkailai, which launched over 30 new products, indicates a competitive landscape that may further accelerate the domestic substitution process in semiconductor equipment [26][34] Summary by Relevant Sections SEMICON China 2025 Overview - The exhibition took place from March 26 to 28, 2025, covering an area of 100,000 square meters and featuring a wide range of sectors including chip design, wafer manufacturing, packaging testing, and semiconductor equipment [6][7] Key Product Launches - North Huachuang entered the ion implantation equipment market with the launch of its first ion implanter, Sirius MC 313, and a 12-inch electroplating device, Ausip T830, aimed at TSV copper filling [10][14] - Zhongwei Company introduced its 12-inch edge etching equipment, Primo Halona, which enhances production efficiency and cost-effectiveness [18][19] - Tuojing Technology unveiled its ALD series and advanced packaging equipment, showcasing innovations in semiconductor manufacturing [25] Market Trends and Projections - The global semiconductor market is projected to rebound with a 19% growth in 2024, reaching $628 billion, and is expected to continue growing in 2025, driven by advancements in AI technologies [7][8] - The ion implantation equipment market is anticipated to grow from $27.6 billion in 2024 to $30.7 billion by 2030, indicating significant market potential for domestic manufacturers [10] Investment Recommendations - The report suggests focusing on high-quality companies within the semiconductor equipment, components, and materials supply chain, including North Huachuang, Zhongwei Company, and Tuojing Technology [36][37]