公众号记得加星标⭐️，第一时间看推送不会错过。 在最近于日本举行的超大规模集成电路技术与电路研讨会上，应用材料公司发表了一篇论文，描述了一种扩展 2nm 及 以上工艺节点的先进逻辑芯片铜互连的方法。 应用材料公司开发了一种铜互连工艺流程，该流程利用了各种设备和材料，包括新的Low k电介质线和钌钴（RuCo）衬里 技术。在论文中，应用材料公司通过开发基于2纳米节点最新晶体管技术的AI加速器测试芯片，证明了该工艺的可行性。 诚然，这是一个涉及多个方面的复杂过程。简单来说，一个先进的逻辑芯片包含数十亿个被称为晶体管的微型结构。晶体 管是芯片的关键组成部分，用于切换器件中的电信号。 在同一块先进的芯片中，微型晶体管通过复杂的铜布线方案相互电连接。这种布线方案称为铜互连，是芯片的重要组成部 分。 但近年来，芯片制造商在铜互连方面遇到了一些挑战和问题。基本上，铜互连中的细线在每个节点上变得更小、更紧凑， 从而可能在这种复杂的布线方案中产生电阻和其他问题。这会影响芯片的性能和可靠性。 预计在2纳米及以后的工艺节点，这些挑战将会加剧。为了解决这些问题和其他问题，应用材料公司的新工艺为开发用于2 纳米及以后先进芯片的复杂铜互 ...

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 47.98 CNY per share [6][9]. Core Views - The company reported a revenue of 268.8 billion CNY for 2024, a year-on-year increase of 15.91%, and a net profit of 13.37 billion CNY, up 22.03% year-on-year [1]. - In Q1 2025, the company achieved a revenue of 61.79 billion CNY, representing a 17.9% year-on-year growth, and a net profit of 3.04 billion CNY, which is a 23.17% increase year-on-year [1]. - The global consumer electronics market is experiencing a recovery, driven by the deep application of AI technology and breakthroughs in product innovation such as foldable screens [2]. - The company is expanding its ODM business, leveraging a cross-disciplinary technology platform to offer a variety of popular product categories, including AR/VR glasses and smart home devices [2]. - The company has successfully overcome technical bottlenecks in 224G interconnect technology and has achieved mass production of 800G optical modules, receiving high market recognition [3]. - The acquisition of Leoni Group aims to enhance the company's automotive business ecosystem, which includes a complete product matrix in automotive wiring harnesses and connectors [4]. Financial Summary - The company expects revenues of 320.82 billion CNY, 372.53 billion CNY, and 427.96 billion CNY for 2025, 2026, and 2027 respectively, with net profits projected at 17.39 billion CNY, 21.24 billion CNY, and 25.74 billion CNY for the same years [9][11]. - The company’s revenue growth rate is projected to be 19.4% in 2025, 16.1% in 2026, and 14.9% in 2027 [12]. - The net profit margin is expected to improve from 5.0% in 2024 to 6.0% in 2027 [11][12].