目前所有的芯片大规模制造，均是基于光刻工艺。在而这种光刻工艺下，一是需要光刻机，二是需要光 刻胶。 可惜不管是光刻机，还是光刻胶，国产化率都是低于20%的，大量的依赖进口。 光刻机主要从荷兰、日本进口，国产率甚至是低于5%的，而光刻胶则大量依赖日本进口，国产率是低 于20%的。 前段时间，日本还是搞出了很多名堂的，甚至有不负责任的媒体报道称"日本全面停供对华光刻胶"，一 时之间让大家人心惶惶。 毕竟我们对日依赖那么高，如果断供了怎么办？切换供应链可不是短时间内能够做到的，如果说要自 给，那也是短时间之内做不到的。 直到近日，日本内阁官房长官木原稔，针对光刻胶问题，公开辟谣了，他称"没有断供，贸易政策也未 改变"，算是给所谓的断供，划上了官方层面的"休止符"。 事实上，一直以来就有人分析称，日本不太可能断供。 一是中国目前芯片工艺并不是那么的先进，光刻胶是与芯片工艺对应的。 而ArF中，由于国内工艺的原因，用于28nm芯片及以下的需求都不多，我们更多的是需要相对成熟一点 的KrF光刻胶，比如40nm及以上工艺的，以及KrF光刻胶，所以相对而言，日本光刻胶，并不是不可替 代。 这些相对成熟的光刻胶，韩国有，中国自 ...

最新消息表明日本似乎从本月中旬起全面停止向中国出口光刻胶，报道指出此次措施的执行范围已具体 涉及佳能、尼康、三菱化学等知名企业。尽管日本政府与企业并未正式官宣，但该消息已在业界流传， 《亚洲时报》称此次中断是"中国担忧的最坏情况"。 光刻胶是一种对光反应后化学性质发生变化的「感光物质」，特别具有将光线聚集到一处的 特性，因此在半导体工艺的初期阶段光刻工艺中被广泛用作核心材料。涂覆在晶圆上后，能 将射向晶圆的光线集中到一点，从而帮助绘制精细的电路图案。 2024年从日进口额达13.6亿美元，占感光化学品进口总 额的54.5%。尤其是7nm以下先进制程所需的EUV光刻胶 完全依赖进口，90nm-7nm制程用ArF光刻胶进口依赖度 超90%，28nm-90nm制程用KrF光刻胶依赖度也达95%以 上。 据媒体报道，在政策支持、市场需求拉动以及企业技术 创新的多重驱动下，中国电子化学品行业国产化进程显著加速，如国内光刻胶企业已实现从树脂、光敏 剂到成品的全链条自主化，部分产品已进入国际半导体大厂供应链。专家认为，若日本确实暂停向中国 出口光刻胶，那么对中国定会产生一定影响，并将引起中国采取反制措施。 公开资料显示，目 ...

Core Insights - A recent report from a well-known international investment institution indicates that China has a technological gap of approximately 20 years in advanced chip manufacturing compared to Western developed countries [1] - The report highlights a significant disparity in photolithography equipment manufacturing between China and the United States, identifying it as a major obstacle to producing high-end chips in China [1] Industry Summary - The most advanced photolithography equipment is developed and manufactured by European companies, which rely on core components from the United States, thus being affected by export controls [1] - Due to external restrictions, Chinese companies face difficulties in obtaining high-end photolithography equipment, directly impacting their research and mass production capabilities in advanced processes [1] - For instance, domestic major chip manufacturers are forced to use relatively outdated technologies to produce 7-nanometer chips, which not only affects production efficiency but also significantly increases manufacturing costs [1] Technology and Supply Chain - The manufacturing of high-end photolithography equipment involves a global supply chain, with key components primarily located in the US and Europe, indicating a substantial gap in China's self-sufficiency in this area [1] - Photolithography is a core technology that transfers chip design patterns onto silicon wafers, and high-end equipment enables finer line delineation, thereby enhancing overall chip performance [1] - After the pattern transfer, multiple processes such as etching, deposition, and cleaning are required to complete chip manufacturing, underscoring the irreplaceable role of photolithography equipment in the chip manufacturing process and its influence on the industry's advancement towards high-end development [1]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The lithography process is the most technically challenging, costliest, and time-consuming step in chip manufacturing, accounting for approximately 30% of costs and 40-50% of time in the manufacturing process [7][10][12] - The lithography process involves multiple steps, including surface treatment, coating, exposure, development, and inspection, with advanced technology nodes requiring 60-90 lithography steps [7][10] - The lithography market is dominated by three major players: ASML, Nikon, and Canon, with a market size in the hundreds of billions [3.2][4.1] Summary by Sections 1. Lithography Process - Lithography is crucial for defining the minimum line width of chips and directly impacts the performance and process level of semiconductor devices [7][10] - Key parameters in lithography include resolution and overlay accuracy, which are essential for ensuring the precise transfer of patterns onto silicon wafers [14][32] 2. Components of Lithography Machines - Lithography machines consist of several key components, including the light source, illumination system, and projection optics, which are critical for the exposure process [43][45] - The light source provides the energy needed for lithography, with different types such as mercury lamps, excimer lasers, and extreme ultraviolet (EUV) light being used depending on the process requirements [45][48] 3. Lithography Machine Market - The lithography machine market is characterized by a high level of competition among leading manufacturers, with ASML being a dominant player in the EUV segment [3.2][4.1] - The report highlights the evolution of lithography technology, including advancements in light source wavelengths and numerical aperture (NA), which are essential for improving resolution [19][22] 4. Domestic Supply Chain Manufacturers - The report outlines several domestic manufacturers involved in the lithography supply chain, including Shanghai Micro Electronics, Guoke Precision, and Huazhuo Jingke, each specializing in different aspects of lithography technology [4.1][4.2][4.3]