半导体行业双周报（2025、05、30-2025、06、12）：WSTS预测2025年全球半导体市场规模同比增长11.2%-20250613

Investment Rating - The report maintains a positive outlook on the semiconductor industry, emphasizing the potential for growth driven by artificial intelligence and domestic self-sufficiency initiatives [42][43]. Core Insights - The global semiconductor market is projected to reach USD 700.9 billion in 2025, reflecting a year-on-year growth of 11.2%, primarily fueled by demand in AI, cloud infrastructure, and advanced consumer electronics [16]. - The semiconductor industry has faced significant external disturbances in 2025, but the first quarter saw a recovery in performance due to AI advancements and government subsidies boosting consumer demand [42]. - The report highlights the importance of domestic substitution in semiconductor equipment and materials, noting that while progress has been made, there are still areas with low localization rates that present investment opportunities [42]. Industry Overview - The semiconductor industry index has seen a decline of 1.43% over the past two weeks, underperforming the CSI 300 index by 2.30 percentage points [12]. - Various sub-sectors within the semiconductor industry have experienced different performance levels, with digital chip design showing a slight increase of 0.14%, while semiconductor equipment saw a decline of 4.21% [14][15]. - The report indicates that the AI smartphone penetration rate is expected to reach 34% by 2025, driven by advancements in chip capabilities and the introduction of new models [18]. Company Announcements and Dynamics - Huawei has launched the Pura80 series smartphones, starting at CNY 6,499, which are equipped with advanced technology [23]. - Roadway Optoelectronics reported that its production is nearing full capacity in the second quarter, with plans to further invest in 14nm semiconductor mask development [30]. - The report mentions that the first quarter of 2025 saw a significant increase in integrated circuit exports from China, amounting to CNY 526.4 billion, a year-on-year growth of 18.9% [21]. Investment Recommendations - The report suggests focusing on companies involved in semiconductor equipment and materials, highlighting specific firms such as North Huachuang, Zhongwei Company, and Huahai Qingke as potential investment targets [43][45]. - It emphasizes the importance of monitoring the domestic substitution process in semiconductor components, particularly in high-value sectors like industrial and automotive applications [42].