Core Insights - The inquiry value of the Instrument Information Network increased by 39% quarter-on-quarter in Q3 2025, with stable demand in the top 10 categories, and a slight decrease in the proportion of domestic demand [2][4][7] Inquiry Value and Demand Categories - In Q3 2025, the overall inquiry value increased by 39%, with industrial enterprises accounting for the largest share, followed by universities. Industrial enterprises had a higher volume of inquiries, while universities had a higher value per inquiry [4][6] - The top 10 categories of instruments remained largely unchanged from Q2, indicating stable demand for major instrument types. The categories included gas chromatographs, infrared spectrometers, and centrifuges among others [6][4] Domestic vs. Imported Demand - The proportion of inquiries specifying domestic products was 16%, while imported products accounted for 6%. There was a 3 percentage point decrease in the demand for domestic products and a corresponding increase for imported products, reflecting a temporary fluctuation within the broader trend of domestic substitution [7][4] Offline Activities and Market Engagement - The Q3 buyer service team of the Instrument Information Network organized a "Ten Thousand Miles" event in Shijiazhuang, collaborating with local partners to engage with pharmaceutical companies, universities, and testing institutions. This initiative aimed to understand the application and challenges of domestic testing equipment [10][9] Membership and Platform Services - The Instrument Information Network offers a membership service called "Yixin Tong," which provides manufacturers with dedicated websites and extensive exposure to over 25 million professional users, enhancing product visibility and brand empowerment [13][14]

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].

Core Viewpoint - The semiconductor packaging process is critical, with semiconductor cutting, grinding, and polishing equipment being an essential part of this field. The cutting and grinding stage is at the beginning of the packaging process, primarily responsible for thinning the back of completed wafers and then flipping and separating them into individual chips [1]. Group 1: Industry Insights - The cutting and grinding stage is high-risk and involves processing the most valuable materials, where even a 0.1% difference in yield can significantly impact customer brand choice [1]. - Japanese companies have established a first-mover advantage in semiconductor cutting and grinding equipment due to long-term technical accumulation and deep cooperation with international giants, creating a scale effect [1]. - Chinese companies, represented by He Yan Technology, are beginning to break through the technological and market "encirclement" established by Japanese firms [1]. Group 2: Company Developments - He Yan Technology focuses on high stability and consistency in mass production equipment, with the entire company participating in quality improvement, which is crucial for the application of cutting and grinding equipment [2]. - The company has transitioned from being a single equipment supplier to a process solution provider, forming a complete product portfolio that surpasses overseas competitors [2]. - He Yan Technology has developed multiple product lines, including dicing machines, film-less cutting equipment, grinders, and cutting fixtures, with the dicing machine gaining widespread recognition and leading market share among domestic suppliers [2].