近日，京东方、深天马在OLED产线设备购置方面传来新动态。 京东方：IT 8代OLED二期首台蒸镀设备或明年Q4引进 10月21日，韩国媒体The elec消息， 京东方正考虑在2026年第四季度引进IT用第8代OLED生产 线二期 项目的 首台蒸镀设备 。 而用于 一期产线 的2 台蒸镀设备中，已有 第 1 台 搬入 进行安 装调试工作。 据业内人士透露， 京东方 正在积极评估明年第四季度将IT 8代OLED产线（B16）二期首台蒸镀 设备运入工厂的方案，目前 京东方 正在与多家设备厂商协商 当中。 据悉， 京东方 规划 的 B16产线整体规模为以8代玻璃基板为基准，规划 月产 能 3.2万片。其中 一期投资已落实，规模为月产 能 1.6万片。一期 产线 所需的两台蒸镀设备均由韩国Sunic System制造，其中首台设备已于今年5月运抵B16工厂，第二台设备预计近期 搬 入。 图片来源：京东方 韩媒指出， 业内普遍预计，二期产线的设备构成将与一期类似。 值得注意的是， 京东方 的6代 OLED产线B7、B11和B12在1～3期的设备构成都相同，因此B16的一期与二期也很可能采用相同 配置。 目前，尚未确定 ...

Core Viewpoint - The global semiconductor equipment market is experiencing unprecedented turbulence and adjustment, with a projected market size of $110.8 billion in 2025, reflecting a 6.2% year-on-year growth, and expected to reach $122.1 billion in 2026, growing by 10.2% [1] Demand and Policy: Dual Shift - The complexity of the current market is primarily due to the dual shift in demand rhythm and policy barriers, particularly in China, which was the largest buyer of semiconductor equipment during 2023-2024 [2] - After a period of intensive equipment procurement, the industry has entered a new cycle where yield ramp-up and capacity utilization are the main themes, leading to a natural slowdown in demand [2] - TechInsights predicts a 6% year-on-year decline in China's equipment purchases for 2025, while SEMI's estimate is as high as 24% [2] - On the policy side, stricter export approvals have slowed down shipments to China, with the U.S. further tightening export restrictions by the end of 2024 [2] Impact on Suppliers - The dual constraints of demand and policy have led to a decline in order visibility and rhythm for semiconductor equipment suppliers in China, with approval timelines becoming a critical risk factor for revenue recognition [3] International Equipment Manufacturers: The Other Side of Growth - Applied Materials (AMAT) reported a revenue of $7.32 billion for Q3 FY2025, an 8% year-on-year increase, but projected a decline to $6.7 billion in Q4 due to a drop in sales in China, which accounted for 35% of its revenue [4] - Tokyo Electron (TEL) anticipates a -5% growth rate in the front-end equipment market for FY2026, primarily due to reduced investments from emerging Chinese semiconductor manufacturers [5] - ASML continues to perform well but has expressed caution regarding 2026 due to potential tariffs and geopolitical uncertainties affecting North American clients [6] Domestic Equipment Manufacturers: Revenue Growth - In contrast to international firms, China's semiconductor equipment industry showed robust recovery in H1 2025, with major listed companies achieving revenue growth of 20% to 50% [9] - North Huachuang and Zhongwei contributed over $21 billion in revenue, dominating the market share [9] - North Huachuang's revenue reached $16.14 billion, a 29.51% increase, while Zhongwei's revenue was $4.96 billion, growing by 43.88% [9] Profitability Trends - The industry shows significant profit divergence, with companies like Shengmei Shanghai and Changchuan Technology experiencing explosive profit growth due to strong demand in AI and advanced packaging [10] - Shengmei Shanghai's revenue was $3.27 billion, up 35.83%, with net profit increasing by 56.99% [10] - Changchuan Technology's revenue reached $2.17 billion, a 41.80% increase, with net profit soaring by 98.73% [12] Emerging Growth Engines - New demand growth in emerging fields is offsetting the slowdown in the Chinese market, with companies like KLA focusing on process control and inspection equipment showing resilience [6] - Lam Research has seen strong non-China technical spending driven by AI and HBM, although market caution remains regarding the sustainability of Chinese orders [7] Conclusion - The semiconductor equipment market in 2025 presents both challenges and opportunities, with the long-term growth trend remaining solid, projected to reach approximately $1 trillion by 2030 [19]

Summary of the Conference Call for 精智达 Industry and Company Overview - The conference call discusses the developments and strategies of 精智达, a company specializing in semiconductor testing equipment and solutions, particularly in the fields of AI, OLED, and MEMS technology [2][3][4]. Key Points and Arguments Business Developments - 精智达's aging testing machines and low-speed FT testing machines account for over 70% of its product mix, while consumables and components make up nearly 20% [2][3]. - The company has achieved a historic breakthrough with its high-speed FT testing machines, securing significant orders and preparing for mass production [2][3]. - The company has established strategic partnerships with domestic AI chip manufacturers, launching a prototype for SoC testing machines in 2023, with further developments expected by mid-2024 [2][3][4]. - 精智达 is the only domestic supplier capable of mass-producing MEMS process carbon probe cards, positioning itself strongly for new orders [2][4]. - The company has secured a multi-million dollar order from Meta to provide optical testing equipment for AR glasses, marking its status as a core global supplier [2][4]. Market Position and Strategy - 精智达 has the highest market share in the OLED EAC segment and module segment in China, responding to the expansion needs of major clients like 京东方, 维信诺, and 华星光电 [2][3][4]. - The company aims to build a complete product line to meet the demands of the AI era, focusing on storage, computing power, and human-computer interaction [5][8]. - 精智达 is positioned as the only supplier in China providing a systematic storage testing solution, achieving over 9G speeds in DRAM testing [6][14]. Future Growth and Challenges - The company anticipates significant growth in its probe card business due to high demand and limited supply from international competitors [10]. - There are plans to expand into NAND testing machines, leveraging existing DRAM testing capabilities [12]. - The display business is expected to maintain high profitability, with historical highs in gross margins and continued order support projected for the next three to five years [16][17][18]. Additional Important Information - The company has a comprehensive layout in the storage testing equipment sector, ensuring it meets the complex demands of new semiconductor technologies [9][12]. - The OLED and panel business is projected to have substantial opportunities for investment and growth, with significant capital plans from domestic manufacturers [15][18]. - The company is focused on maintaining its competitive edge by aligning its product offerings with the evolving needs of the market and its strategic clients [13].

Group 1: Company Overview - Starry Technology was established in 2021, focusing on high-end semiconductor equipment with over 20 years of experience in the core team [2] - The product range includes chip bonding, silicon wafer bonding, nano-imprinting, and optical inspection, addressing key needs in 3D packaging and AI chip manufacturing [2] Group 2: Shareholder Actions - Recent shareholder reduction aims to stabilize control, with a plan for Mr. Zhou Jun and his associates to reduce their shareholding below that of Starry Technology within 12 months post-board restructuring [3] - The reduction will ensure that Starry Technology and its associates maintain a shareholding ratio at least 8% higher than Mr. Zhou Jun's group [3] Group 3: Share Transfer Progress - A supplemental agreement was signed on July 22, 2025, adjusting the share transfer quantity and price, pending approval from the Shenzhen Stock Exchange [3] - The company will fulfill its information disclosure obligations following the completion of the share transfer [3] Group 4: Future Development Plans - The company aims to expand into new material demands in the semiconductor field while integrating high-end equipment with its core business [3] - The transition will focus on high-end equipment as the primary driver, ensuring stable business development [3] Group 5: Quartz Mining Update - The company’s subsidiary, Zhongqi Mining, signed a mining rights transfer contract, increasing quartz resource volume to 8.257 million tons [3] - The annual production capacity will be raised from 200,000 tons to 400,000 tons, enhancing resource reserves and sustainable operational capacity [3]

Group 1: Company Overview and Collaboration - Guangdong Zhongqi New Materials Co., Ltd. is transitioning from traditional construction materials to high-tech applications in the semiconductor industry, aiming for new growth points [4] - The collaboration with Xingkong Technology focuses on integrating high-end equipment manufacturing with Zhongqi's material production, enhancing capabilities in the semiconductor sector [4][5] Group 2: Product Development and Market Position - Xingkong Technology's product line includes specialized lithography machines, chip bonding machines, and optical inspection equipment, targeting advanced packaging and AI chip manufacturing [5][6] - The company aims to achieve micron-level precision in advanced packaging, with expectations to reach sub-micron levels (0.7 to 0.8 microns) by the second half of the year [9] Group 3: Future Strategies and R&D Focus - Future development will emphasize advanced packaging technologies, including 2.5D and 3D packaging, to meet the growing demands of AI applications [5][6] - The company plans to maintain a strong R&D focus, with approximately 60% of its workforce dedicated to research and engineering [11] Group 4: Competitive Landscape and Supply Chain - Xingkong Technology differentiates itself from competitors by focusing on AI chip manufacturing, with a unique technical approach and application focus [12] - The company maintains a strong domestic supply chain but does not completely exclude international suppliers for critical components, ensuring a secure and controllable production environment [12]