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 discusses the advancements in high numerical aperture (NA) EUV lithography systems, particularly the transition from 0.33 NA to 0.55 NA, highlighting the implications for multi-patterning techniques and image quality [1][3]. Group 1: Numerical Aperture and Imaging - The increase in numerical aperture (NA) from 0.33 to 0.55 allows for the use of more diffraction orders, resulting in brighter and narrower peaks in imaging [1][3]. - Higher NILS (Normalized Image Log Slope) is achieved due to sharper peaks, which reduces the impact of random effects from photon absorption noise [3][11]. - Direct printing images at 0.33 NA are more prone to quality degradation compared to 0.55 NA, necessitating higher doses to maintain low noise levels [3][13]. Group 2: Multi-Patterning Techniques - The article illustrates that DUV (Deep Ultraviolet) double patterning can achieve similar results to EUV by splitting patterns into separate exposures, improving NILS due to increased spatial frequency range [5][9]. - It is anticipated that high NA EUV will require two patterning steps, while low NA EUV will require three, and DUV will require four [5][9]. Group 3: Depth of Focus and Resist Thickness - The article emphasizes that higher numerical apertures lead to a wider range of spatial frequencies, which can result in greater phase differences and loss of image contrast due to defocus [9][11]. - A depth of focus less than 30 nanometers for high NA systems implies that resist thickness must also be under 30 nanometers, potentially leading to significant resist loss [13][15]. - The article suggests that future hyper NA systems (at least 0.75) may exacerbate these issues, as they are unlikely to provide sufficient depth of focus for reasonable resist thickness [13].