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半导体SEMICONChina2025动态跟踪报告:新凯来携四类产品亮相,半导体设备国产化再上新台阶
Ping An Securities·2025-03-31 14:43

Investment Rating - The report maintains an "Outperform" rating for the semiconductor equipment industry [1]. Core Viewpoints - The report highlights that the company showcased over thirty semiconductor equipment products at SEMICON China 2025, indicating a significant advancement in domestic semiconductor equipment localization [3][4]. - The exhibited products cover four major categories: diffusion, etching, thin film deposition, and measurement, demonstrating a comprehensive product matrix [3][7]. - The introduction of various advanced equipment is expected to stimulate the domestic semiconductor equipment industry, potentially alleviating supply constraints in advanced process expansion [4][37]. Summary by Sections 1. Overview of New Kailai's Showcase - New Kailai presented over thirty products at SEMICON China 2025, covering diffusion, etching, thin film deposition, and measurement, marking a significant step in the localization of semiconductor equipment [3][7]. 2. Diffusion Equipment - New Kailai launched six products in the diffusion category, including EPI and RTP devices, which support future advancements in semiconductor processes [10][12]. 3. Etching Equipment - The company introduced a range of etching devices, including CCP, ICP, and radical dry etching products, designed to meet the needs of advanced nodes [14][15]. 4. Thin Film Deposition Equipment - New Kailai's thin film deposition equipment includes PVD, CVD, and ALD series, which are capable of supporting future advanced nodes [17][20]. 5. Measurement Equipment - The report details various measurement devices, including wafer defect detection, overlay measurement, X-ray measurement, and electrical performance testing equipment, all showcasing high performance in yield, precision, and sensitivity [26][33][35]. 6. Investment Recommendations - The report suggests focusing on companies such as Zhichun Technology, Xinlai Materials, Fuchuang Precision, Xianfeng Precision, Xinyuan Micro, and SMIC, as they are expected to benefit from the advancements in semiconductor equipment [4][37].