Core Viewpoint - The article emphasizes the importance of semiconductor cutting, grinding, and polishing equipment in the packaging process of the semiconductor industry, highlighting the competitive landscape between domestic Chinese companies like HeYan Technology and established Japanese firms [2][3]. Group 1: Industry Overview - Packaging is a critical process in the semiconductor supply chain, with cutting, grinding, and polishing equipment being essential for thinning wafers and separating individual chips [2]. - The cutting and polishing stage is high-risk and involves significant value, where even a 0.1% difference in yield can impact customer brand choice [2]. Group 2: Company Development - HeYan Technology has developed multiple product lines, including dicing saws, film-less cutting equipment, grinders, and cutting fixtures, establishing a strong market presence among domestic suppliers [3]. - The company has transitioned from being a single equipment supplier to a comprehensive process solution provider, enhancing its product offerings beyond those of overseas competitors [3]. Group 3: Competitive Landscape - Japanese companies have a technological advantage due to their long-term experience and established relationships with international giants, maintaining a dominant market position [2][3]. - Despite achieving comparable core technical indicators, domestic manufacturers like HeYan Technology still face challenges in process iteration and scaling production to compete effectively with foreign firms [3].