According to the CITIC Construction Investment Research Report, in terms of semiconductor equipment, the global boom cycle continues to be confirmed, and attention is being paid to the offshore process. The SEMI update forecasts that semiconductor equipment will continue to grow over the next 3 years. SEMI expects global semiconductor manufacturing equipment sales to reach a record high of US$165.9 billion in 2026, +23.2% year over year. The growth momentum is expected to continue until 2028, and total equipment sales are expected to reach a record $229.5 billion, achieving five consecutive years of growth. The world's semiconductor equipment components are experiencing a wave of price increases throughout the entire chain, which is rare in history. The pricing power in the semiconductor industry chain is shifting structurally from chip terminals to equipment and components. Parts companies are small in scale and account for a high proportion of fixed costs, and price increases directly translate into profits; at the same time, the production line expansion cycle lasts 12 to 18 months, and supply elasticity is the worst. Pay attention to domestic substitution demands and price increase logic brought about by extended delivery times from overseas suppliers such as valve pipelines, ceramic parts, RF power supplies, and GAS BOX.

According to the CITIC Construction Investment Research Report, in terms of semiconductor equipment, the global boom cycle continues to be confirmed, and attention is being paid to the offshore process. The SEMI update forecasts that semiconductor equipment will continue to grow over the next 3 years. SEMI expects global semiconductor manufacturing equipment sales to reach a record high of US$165.9 billion in 2026, +23.2% year over year. The growth momentum is expected to continue until 2028, and total equipment sales are expected to reach a record $229.5 billion, achieving five consecutive years of growth. The world's semiconductor equipment components are experiencing a wave of price increases throughout the entire chain, which is rare in history. The pricing power in the semiconductor industry chain is shifting structurally from chip terminals to equipment and components. Parts companies are small in scale and account for a high proportion of fixed costs, and price increases directly translate into profits; at the same time, the production line expansion cycle lasts 12 to 18 months, and supply elasticity is the worst. Pay attention to domestic substitution demands and price increase logic brought about by extended delivery times from overseas suppliers such as valve pipelines, ceramic parts, RF power supplies, and GAS BOX.