你或许听说过"视错觉"实验：两个一样大的小球，看起来却一大一小；明明静止的图像，看起来却在在动。这些现象都在证明，想骗过眼睛和大脑，还挺 简单的。 作为人眼最敏锐的视觉参数之一，分辨率一直都是科技公司关注的焦点。2010年，乔布斯在苹果发布会上发布了搭载 "视网膜屏"（Retina Display）的 iPhone 4，宣称其像素密度之高，已超出人眼识别极限。但这场发布会并没有终结"分辨率比赛"。十几年后的今天，从手机到平板，从电脑到电视，数码 设备的分辨率依然在不断被刷新。 而最近的一项研究发现：在分辨率这条赛道上，手机厂商可以接着"卷"，但电视厂商或许可以准备躺平了。 但在"分辨率"这件事上，想糊弄人眼，恐怕就没那么容易了。 326ppi的视网膜屏，拿近点再看看呢？ 当年的iPhone 4，搭载的是一块326ppi的屏幕，也就是每英寸包含326个像素点。苹果之所以有勇气称其为"视网膜屏"，是因为人眼能够识别的极限像素密 度为300ppi，而326ppi显然超过了这一数值。 但这有一个前提，乔布斯在发布会上也提到了这一点：你需要把屏幕拿到距离眼睛10到12英寸（约25～30厘米）远的地方。 这是因为当距离变 ...

Core Insights - The report addresses key issues regarding the types and principles of core components in lithography machines, the market potential, ASML's industry collaboration model, and the current status and recommendations for domestic lithography machine components [1]. Investment Logic - Lithography machines are essential for chip manufacturing, directly influencing the miniaturization of chips. Key performance indicators include resolution, depth of focus, overlay accuracy, and yield. The global lithography machine market is projected to reach $29.37 billion by 2025, with specific segments such as illumination and optics, light sources, and stages having estimated market sizes of $4.78 billion, $2.86 billion, and $2.15 billion respectively [2]. - The EUV lithography machine market is expected to reach $9.6 billion by 2025, with its core components also showing significant market potential [2]. ASML's Success Factors - ASML's success is attributed to technological innovation and industry collaboration, with key partners including Zeiss, Cymer, Gigaphoton, and TRUMPF. The company has a global supply chain that enhances its competitive edge [3]. Core Components and Market Barriers - The core components of lithography machines, such as light sources, optics, and stages, represent significant barriers to entry in the industry. The complexity of manufacturing these components contributes to the competitive landscape [2][3]. - The report emphasizes the importance of domestic supply chains in China, particularly in light sources, optics, and stages, which are expected to benefit from government support [3]. Key Indicators of Lithography Machines - The report outlines critical indicators for lithography machines, including resolution, overlay accuracy, yield, and depth of focus. The resolution is determined by the Rayleigh formula, and advancements in technology are necessary to improve these metrics [11][14][36]. - The depth of focus is crucial for accommodating wafer surface irregularities, and improvements in immersion lithography technology have enhanced both resolution and depth of focus [34]. Core Component Analysis - The report details the main components of lithography machines, including light sources, illumination systems, optics, and stages. The collaboration among these components is essential for achieving high imaging quality [42][46]. - The light source is identified as a key factor influencing resolution, with various types of light sources being utilized over the years, including mercury lamps and excimer lasers [52][55]. Conclusion - The lithography machine industry is characterized by high technical barriers and significant market potential, particularly in the context of domestic supply chain development in China. The focus on core components and technological advancements will be critical for future growth and competitiveness in the semiconductor manufacturing sector [3][42].

Core Viewpoint - The article emphasizes the critical role of lithography machines in semiconductor manufacturing, highlighting their technological evolution and the importance of resolution, which is the ultimate goal in the development of lithography technology [2][8]. Group 1: Lithography Technology - Lithography is a key technology in wafer manufacturing, with lithography machines being the most valuable and technically challenging equipment in the process [8]. - The core of lithography technology involves transferring chip design patterns onto silicon wafers through a process that includes exposure, development, and cleaning [9]. Group 2: Resolution as a Key Indicator - Resolution is defined as the minimum feature size that can be clearly projected onto a wafer, influenced by factors such as light wavelength, numerical aperture (NA), and process factor (k1) [15][25]. - The evolution of lithography has seen a significant reduction in light source wavelengths, with the current extreme ultraviolet (EUV) light source at 13.5nm being the most advanced [35][36]. Group 3: Key Components of Lithography Machines - Lithography machines consist of three core systems: the light source system, optical system, and workpiece stage system [63]. - The light source system provides the energy for exposure, with the most advanced sources being EUV, which require high precision in control [67][68]. - The optical system is responsible for light propagation and aberration correction, utilizing complex lens assemblies to achieve high precision [63][64]. Group 4: Historical Development of Lithography Leaders - The lithography machine industry has seen a shift in leadership through three main eras, with ASML currently dominating the advanced lithography market due to its technological advancements [4][5]. - The transition from early American companies to Japanese firms, and now to ASML, illustrates the impact of technological breakthroughs and government support on industry leadership [4][5]. Group 5: Domestic Lithography Development - China's lithography machine industry has made significant progress since the implementation of the "02 Special Project" in 2006, although it still lags behind international standards [6]. - Domestic manufacturers like Shanghai Micro Electronics have made strides in the mid-to-low-end market, but face challenges in high-end lithography machine production [6].