如果您希望可以时常见面，欢迎标星收藏哦~ 来 源 ：内容 编译自 wccftech 。 投资银行高盛认为，中国光刻机公司至少落后美国同行20年。光刻技术是半导体制造的几个环节 之一，也是阻碍中国制造高端芯片的唯一瓶颈。最先进的光刻机由荷兰公司ASML制造，由于其依 赖美国原产的零部件，美国政府有权限制其对华销售。 为遵守国际出口管制规范「瓦圣那协议」(Wassenaar Arrangement)，ASML从未将EUV设备出口 至中国。 美国政府正在对ASML施压，希望该公司不要再为贩售至中国的先进DUV系统提供维修服务，以 符合目前对中国半导体业的制裁行动。然而，荷兰政府尚未同意美方要求。 ASML希望保留售中 设备的控制权、以免敏感资讯外流，倘若中国企业接管维修工作，将无法保证敏感资讯是否泄漏。 点这里加关注，锁定更多原创内容 *免责声明：文章内容系作者个人观点，半导体芯闻转载仅为了传达一种不同的观点，不代表半导体芯闻对该 观点赞同或支持，如果有任何异议，欢迎联系我们。 推荐阅读 10万亿，投向半导体 芯片巨头，市值大跌 黄仁勋：HBM是个技术奇迹 Jim Keller：RISC-V一定会胜出 光刻是芯片制 ...

公司研究 证 券 研 究 报 告 芯源微（688037）2025 年半年报点评 强推（维持） 收入保持稳健，化学清洗&临时键合机放量 目标价：150.2 元 事项： 评论： [ReportFinancialIndex] 主要财务指标 | | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业总收入(百万) | 1,754 | 2,046 | 2,748 | 3,598 | | 同比增速(%) | 2.1% | 16.7% | 34.3% | 30.9% | | 归母净利润(百万) | 203 | 245 | 419 | 603 | | 同比增速(%) | -19.1% | 21.0% | 70.6% | 44.0% | | 每股盈利(元) | 1.01 | 1.22 | 2.08 | 2.99 | | 市盈率(倍) | 123 | 102 | 60 | 41 | | 市净率(倍) | 9.3 | 8.8 | 7.9 | 6.9 | 资料来源：公司公告，华创证券预测 注：股价为 2025 年 9 月 1 日收盘价 半导体设备 ...

招银证券研报指出，北方华创第二季度收入为79亿元人民币，同比增长22%，环比下降3%，主要因一 季度收入为高基数（历史第二高）所导致的季节性波动。毛利率收窄至41.3%（同比下降6.0个百分点、 环比下降1.7个百分点），受电子元器件业务利润率较低的影响所致。净利润为16亿元（同比下降2%、 环比增长3%）。净利率提升至20.5%（2024年、25年一季度分别为18.8%、19.3%），显示公司出色的 运营与成本管控能力。该行持续看好公司的成长轨迹，公司在中国半导体设备国产替代进程中占据重要 的战略地位。预计2025/26年收入将同比增长32%/26%。重申"买入"评级，目标价上调至460元人民币。 ...

半导体行业 买入（维持） Q2 业绩呈季节性波动，平台化布局成效显著 公 司 点 北方华创（002371.SZ）2025 年半年报点评 2025 年 9 月 2 日 投资要点： 事件：公司发布2025年半年报。公司2025年上半年实现营收161.42亿元，同 比增长30.86%，实现归母净利润32.08亿元，同比增长15.37%。 评 SAC 执业证书编号： 点评： 总市值（亿元） 2,726.51 总股本（亿股） 7.22 ROE(TTM) 17.90% 本报告的风险等级为中风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 刘梦麟 S0340521070002 n 电话：0769-22110619 邮箱： liumenglin@dgzq.com.cn 陈伟光 SAC 执业证书编号： S0340520060001 电话：0769-22119430 邮箱： chenweiguang@dgzq.com.c 主要数据 2025 年 9 月 1 日 收盘价（元） 377.84 公司 Q2 业绩呈季节性波动，盈利能力同比有所下滑。公司 202 ...

常州维普是国内极少数在半导体光掩模缺陷检测设备领域已实现规模化量产的企业，其产品已进入国内 头部晶圆厂和国内外头部掩膜版厂商的量产线。 9月2日，苏大维格（300331）公告称，公司拟筹划以现金方式收购常州维普半导体设备有限公司不超过 51%的股权，收购完成后，预计实现对标的公司的控股。标的公司100%股权的整体估值暂定为不超过 人民币10亿元，本次交易对价预计不超过人民币5.10亿元。 ...

Group 1 - Changzhou Weipu is recognized as a "little giant" enterprise in Jiangsu Province, specializing in the research, production, and sales of photomask defect detection equipment and wafer defect detection equipment, both of which are core devices for semiconductor measurement [1] - The company has achieved large-scale production of photomask defect detection equipment, with core technologies, products, and algorithms developed in-house, and has successfully entered the production lines of leading domestic wafer manufacturers and photomask manufacturers [1] - The agreement stipulates that Changzhou Weipu must achieve a net profit of no less than 240 million yuan (including) from 2025 to 2027, with an overall valuation of its 100% equity not exceeding 1 billion yuan (including) [1] Group 2 - The photomask is a critical material in microelectronics manufacturing, and the domestic market for photomask defect detection equipment is currently dominated by foreign companies, with a domestic production rate of less than 3%, indicating a significant market opportunity for domestic players [2] - Su Da Weige focuses on the research, production, and sales of laser direct-write lithography machines and nano-imprint lithography machines, with the laser direct-write lithography machine being one of the core devices for photomask manufacturing [2] - The core components of laser direct-write lithography machines and photomask defect detection equipment are highly similar, which allows for significant technological complementarity between Su Da Weige and Changzhou Weipu [3] Group 3 - The acquisition is expected to enhance Su Da Weige's R&D capabilities in the direct-write lithography field and accelerate product iteration, while leveraging Changzhou Weipu's existing customer resources to reduce customer development costs and product validation cycles [3] - The acquisition may provide a competitive advantage by integrating production and testing, thereby increasing customer loyalty and forming a differentiated competitive edge [3] - The signed equity acquisition intention agreement is a preliminary agreement, and the acquisition is still in the planning stage, with no significant short-term impact on Su Da Weige's operations and performance [4][5] Group 4 - The acquisition of Changzhou Weipu by Su Da Weige is part of a broader trend in the semiconductor equipment industry towards "equipment clustering," which can enhance cost efficiency and meet the demand for one-stop solutions from wafer manufacturers [6] - The integration of equipment companies is expected to become a trend as the demand for self-sufficiency in the supply chain increases, and this acquisition could serve as a model for industry consolidation [6]

证 券 研 究 报 告 北方华创（002371）2025 年半年报点评 强推（维持） 业绩保持稳健增长，产品平台化进程顺利 事项： 评论： [ReportFinancialIndex] 主要财务指标 | | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业总收入(百万) | 29,838 | 39,509 | 50,146 | 60,221 | | 同比增速(%) | 35.1% | 32.4% | 26.9% | 20.1% | | 归母净利润(百万) | 5,621 | 7,349 | 9,613 | 12,108 | | 同比增速(%) | 44.2% | 30.7% | 30.8% | 26.0% | | 每股盈利(元) | 7.79 | 10.18 | 13.32 | 16.78 | | 市盈率(倍) | 49 | 37 | 28 | 23 | | 市净率(倍) | 8.8 | 7.2 | 5.8 | 4.7 | 资料来源：公司公告，华创证券预测 注：股价为 2025 年 9 月 1 日收盘价 公司研究 半导体设 ...

Core Viewpoint - The company, NAIKE Equipment, is experiencing a decline in stock price and trading volume, while its business in semiconductor packaging and advanced manufacturing equipment is positioned to benefit from the depreciation of the RMB and growth in the semiconductor industry [1][4]. Group 1: Company Overview - NAIKE Equipment specializes in the research, production, and sales of intelligent manufacturing equipment for the plastic extrusion and semiconductor packaging sectors, providing customized solutions [7]. - The company's main products include plastic extrusion molds, extrusion devices, and semiconductor packaging equipment, with revenue composition being 64.66% from plastic extrusion molds, 26.93% from semiconductor packaging equipment, and 4.94% from semiconductor packaging molds [7]. - As of June 30, the number of shareholders increased by 7.29%, while the average circulating shares per person decreased by 6.80% [8]. Group 2: Financial Performance - For the first half of 2025, NAIKE Equipment achieved a revenue of 140 million yuan, representing a year-on-year growth of 29.73%, and a net profit attributable to shareholders of 41.65 million yuan, up 25.77% year-on-year [8]. - The company has distributed a total of 81.75 million yuan in dividends since its A-share listing [8]. Group 3: Market Position and Trends - The company is involved in the semiconductor industry, particularly in the production of fully automatic packaging equipment, which is essential for the reliability and functionality of IC chips [2]. - NAIKE Equipment's advanced packaging technology is being upgraded to support new packaging forms such as FCCSP and FCBGA [2]. - The company benefits from a significant overseas revenue share of 60.53%, aided by the depreciation of the RMB [3]. Group 4: Technical Analysis - The average trading cost of the stock is 29.86 yuan, with recent reductions in holdings, although the pace of reduction has slowed [6]. - The current stock price is near a support level of 28.38 yuan, indicating potential for a rebound if this level holds [6].

Group 1 - The stock of Zhongwei Company fell by 5.01% on September 2, closing at 212.02 CNY per share, with a trading volume of 2.867 billion CNY and a turnover rate of 2.11%, resulting in a total market capitalization of 132.755 billion CNY [1] - Zhongwei Semiconductor Equipment (Shanghai) Co., Ltd. was established on May 31, 2004, and went public on July 22, 2019. The company specializes in the research, production, and sales of high-end semiconductor equipment [1] - The main business revenue composition of Zhongwei Company includes specialized equipment at 86.17%, spare parts at 12.84%, and others at 0.99% [1] Group 2 - Manulife Fund holds a significant position in Zhongwei Company, with its Manulife Blue Chip Mixed Fund (001267) maintaining 7,162 shares, unchanged from the previous period, accounting for 3.06% of the fund's net value, ranking as the sixth-largest holding [2] - The Manulife Blue Chip Mixed Fund (001267) was established on June 3, 2015, with a latest scale of 42.6724 million CNY. It has achieved a year-to-date return of 57.46%, ranking 545 out of 8,184 in its category [2] - The fund manager, Wei Cheng, has been in charge for 2 years and 273 days, with the fund's total asset size at 141 million CNY. The best return during his tenure is 36.03%, while the worst is 21.69% [2]

9月2日，芯碁微装跌5.03%，截至发稿，报135.81元/股，成交11.29亿元，换手率5.91%，总市值178.92 亿元。 资料显示，合肥芯碁微电子装备股份有限公司位于安徽省合肥市高新区长宁大道789号1号楼,香港铜锣 湾希慎道33号利园1期19楼1915室，成立日期2015年6月30日，上市日期2021年4月1日，公司主营业务涉 及主要从事以微纳直写光刻为技术核心的直接成像设备及直写光刻设备的研发、制造、销售以及相应的 维保服务,主要产品及服务包括PCB直接成像设备及自动线系统、泛半导体直写光刻设备及自动线系 统、其他激光直接成像设备以及上述产品的售后维保服务,产品功能涵盖微米到纳米的多领域光刻环 节。主营业务收入构成为：激光直写成像设备99.58%，其他(补充)0.42%。 从基金十大重仓股角度 数据显示，华夏基金旗下1只基金重仓芯碁微装。华夏专精特新混合发起式A（018916）二季度持有股 数8939股，占基金净值比例为4.81%，位居第十大重仓股。根据测算，今日浮亏损失约6.43万元。 华夏专精特新混合发起式A（018916）成立日期2023年9月12日，最新规模1355.64万。今年以来收益 ...