中国半导体设备进口追踪 - 2025 年 9 月同比增长 42%-China Semicap Imports Tracker - Sept 2025 up 42% yoy

Summary of China Semiconductor Equipment Imports - September 2025 Industry Overview - China's Semiconductor Equipment Imports: In September 2025, semiconductor equipment imports reached $7.1 billion, marking a 42% year-over-year (yoy) increase and a 68% month-over-month (mom) increase. This is significantly above the previous three-month average of $4.7 billion and the twelve-month average of $4.5 billion. The year-to-date (YTD) growth for 2025 stands at 9% [1][53][55]. Key Categories of Imports Front-end Equipment - Total Imports: Front-end equipment imports totaled $5.0 billion in September, up 28% yoy and 65% mom. Key drivers included: - Process Control: $750 million, +123% yoy and +95% mom - Etching: $963 million, +79% yoy and +72% mom - Deposition: $1,043 million, +67% yoy and +81% mom - Other Front-end: $543 million, +60% yoy and +16% mom - YTD Performance: Front-end imports for the year reached $29 billion, up 7% yoy [2][3][36]. Back-end Equipment - Assembly & Packaging: $485 million, up 19% yoy and up 76% mom. Notable increases in wire bonder imports and mounting/bonding equipment. - Wafer Manufacturing: $103 million, down 29% yoy and down 27% mom. - Flat Panel Display: $965 million, up 473% yoy and 493% mom. - Spares: $548 million, up 40% yoy but down 10% mom. - Testing: $57 million, up 32% yoy and up 137% mom [8][41]. Trends and Insights - Lithography Imports: Down 17% yoy but up 84% mom. The average selling price (ASP) for lithography machines was $18.1 million, significantly higher than the previous average of $11.4 million [80][99]. - Market Share: In 2024, China accounted for 36.2% of the global wafer fabrication equipment (WFE) market, highlighting its importance in the global semiconductor landscape [69][70]. - Country of Origin: Japan and the Netherlands accounted for 41% of semiconductor equipment imports into China through September 2025, with Japan holding a 26% share [67][74]. Potential Risks and Opportunities - Normalization of Sales: Most semiconductor equipment suppliers anticipate that sales in China will normalize in 2025, which could impact future growth rates [1]. - Dependence on Key Suppliers: The top five semiconductor equipment suppliers' disclosed sales accounted for 76% of front-end imports in Q3 2025, indicating a concentrated market [77][78]. Conclusion The semiconductor equipment import data for September 2025 indicates robust growth in several categories, particularly in front-end equipment and flat panel displays. However, challenges remain, particularly in lithography and wafer manufacturing segments, which may require strategic adjustments from suppliers to maintain growth momentum in the Chinese market.