材料汇·2025-05-28 14:23Core Viewpoint - The article emphasizes the critical role of lithography machines in semiconductor manufacturing, highlighting their complexity, high costs, and the significant market opportunities for domestic alternatives in China as the industry seeks to reduce reliance on foreign technology [2][4][5]. Group 1: Lithography Machines Overview - Lithography is the most complex and essential process in integrated circuit manufacturing, accounting for about one-third of manufacturing costs and taking up 40-50% of the time [2]. - The lithography machine consists of multiple subsystems, including optical, mechanical, and control systems, with the optical system being the most critical [3]. - The market for lithography machines is dominated by a few key players, with ASML, Nikon, and Canon holding the majority of market share [3][4]. Group 2: Market Dynamics and Opportunities - The sales of lithography machines in mainland China are projected to reach approximately $8.46 billion in 2024, representing about 36% of ASML's total sales [4]. - The domestic semiconductor equipment market has surpassed 200 billion RMB in 2023, with lithography equipment accounting for over 20% of this market [4]. - There is significant potential for domestic companies to replace imported lithography machines, particularly in i-line and KrF equipment [4][5]. Group 3: Technological Developments - The development of advanced lithography technologies, such as EUV (Extreme Ultraviolet) lithography, is ongoing, with domestic companies making progress in achieving breakthroughs in key technologies [39][40]. - The article notes that while domestic lithography machines have made strides, the overall domestic market still relies heavily on imports, with a current localization rate of only 2.5% [40]. - The advancements in laser sources and optical systems are crucial for improving the resolution and efficiency of lithography machines [41][57]. Group 4: Investment Recommendations - Continuous monitoring of the lithography machine supply chain, particularly in components like light source systems and projection optics, is recommended as the market for high-end lithography machines continues to grow [5]. - The article suggests that achieving breakthroughs in certain categories of lithography machines could open up substantial market opportunities for domestic manufacturers [5].