半导体设备周观点：SK海力士计划最早于今年推出HBF1样品，台积电拟大幅投资扩产：机械设备-20260125

Investment Rating - The industry rating is "Outperform the Market" [7][14] Core Insights - SK Hynix plans to launch HBF1 samples as early as this year, collaborating with SanDisk to establish HBF standards, with the product expected to utilize 16-layer NAND flash stacking [2] - TSMC's capital expenditure plan for 2026 is projected to reach a maximum of $56 billion, a significant increase of 37% from the actual expenditure of $40.9 billion in 2025, driven by strong AI demand and global advanced process capacity expansion [3] - The global average utilization rate for 8-inch wafers is expected to rise to 85-90% in 2026, up from 75-80% in 2025, with some foundries planning to increase foundry prices by 5-20% due to tightening capacity [4] Recommendations - Focus on Taiwanese semiconductor industry chain companies such as Shenghui Integrated, Yaxiang Integrated, and Hanzhong Precision [5] - Pay attention to domestic companies with significant potential in the measurement segment, including Jingce Electronics, Zhongke Feimeasure, and Saiteng Co., Ltd. [5] - Consider companies involved in clean rooms and medium systems, such as Zhengfan Technology, Shengjian Technology, and Meier Technology [5] - Look into testing probe companies like Helin Weina and Qiangyi Co., Ltd. [5] - Key process equipment firms include Northern Huachuang, Zhongwei Company, and Tuo Jing Technology [5] - Advanced packaging companies such as Quick Intelligent and Chip Micro-Assembly are also recommended [5] - Third-party testing firms like Su Shi Testing and Shengke Nano are worth monitoring [5]