➀ KLA报告第三季度营收31亿美元，非GAAP每股收益8.20美元；
➁ 预计未来季度营收30-35亿美元，非GAAP每股收益7.55-8.65美元；
➂ AI和HBM是推动高端市场增长的关键因素。
Recent #semiconductor equipment news in the semiconductor industry
➀ KLA reports a solid quarter with modest growth; ➁ China's economic moderation poses uncertainty; ➂ TSMC's spending dominance continues; ➃ KLA faces challenges in reticle inspection market.
➀ ASML's new CEO, Christophe Fouquet, discussed High NA EUV and the rapid adoption of the technology; ➁ Doubling the size of photomasks from 6″x6″ to 6″x12″ was proposed by Intel and supported by ASML; ➂ Intel has installed two High NA systems, showing significant improvement over standard EUV.
1. ASML's installed base service revenue is its driver for incremental growth, but system sales are declining, raising concerns about demand health. 2. Declining unit sales volumes and an increase in used unit sales suggest rising price sensitivity among customers. 3. TTM net bookings are decreasing, indicating long-term demand risks. 4. Valuations are lower than usual compared to semiconductor equipment peers, and technical analysis shows a balanced fight between bulls and bears. 5. Gross margins are a key monitorable, with Q1 FY25 guidance beating expectations but a weaker outlook for H2 FY25.
➀ Shanghai's Zhizhen Technology plans to acquire the controlling stake of Weidong Jinglin, a professional electronic material supplier, through a combination of issuing shares and paying cash.
➁ Zhizhen Technology, a high-tech enterprise focusing on semiconductor equipment, has been actively involved in capital operations since its listing.
➂ Weidong Jinglin, founded in 2006, is a key supplier of electronic materials and has been preparing for an IPO.
➀ Application Materials reported better-than-expected financial results for the first quarter of fiscal 2025, with revenue of $7.17 billion, up 7% year-over-year;
➁ The company anticipates a $4 billion revenue loss in fiscal 2025 due to new U.S. export control policies;
➂ Application Materials had to stop providing maintenance services for some Chinese customers' equipment, leading to a significant revenue loss in the second quarter.
1. ASML is set for multi-year growth due to high demand for lithography systems in semiconductor production; 2. Q4 profits exceeded estimates with €9.3 billion in sales and €4.79 billion in gross profits; 3. The company expects sustained growth in 2025 driven by hyperscalers and data centers needing microchips for AI workloads, with sales projected at €30-35 billion.
1. Lam Research's Q2-2025 earnings exceeded expectations with strong revenue and EPS growth; 2. The stock's valuation is elevated, but a more attractive entry point could be in the $70-75 range; 3. A potential long-term buying opportunity could arise if the stock's valuation drops closer to historical levels.
1. Applied Materials is a high-quality company with strong fundamentals and impressive financial growth. 2. Despite its long-term growth potential, AMAT's current valuation is elevated, limiting short-to-medium-term margin of safety. 3. The semiconductor manufacturing equipment market is expected to grow, supporting AMAT's EPS growth. 4. The author recommends holding off on buying AMAT stock now, expecting better entry points in future downturns.
1. ASM International has received the 2024 'Excellent Performance Award' from TSMC; 2. The award recognizes ASM's outstanding performance in the previous year; 3. ASM's contributions to TSMC's global expansion and production capacity for advanced process technology nodes are highlighted.
➀ Northern华创's net profit increased by 65.73% in 2023, outperforming the semiconductor industry.
➁ Northern华创's core business, semiconductor equipment, accounts for 76.49% of its total revenue.
➂ The high technical and customer barriers in the semiconductor equipment industry contribute to Northern华创's strong competitive position.
➃ Northern华创's growth is driven by the increasing demand for semiconductor equipment and the advancement of semiconductor technology.
1. ACM Research develops equipment for cleaning and polishing semiconductor devices; 2. Despite sector fears, ACMR's essential products and diverse client base position it for long-term growth; 3. ACMR is valued at only 15 times earnings, offering an opportunity compared to its competitors.
➀ ASM Korea, a Dutch semiconductor equipment giant focusing on ALD, PEALD, and epitaxy equipment, has undergone a series of restructuring actions involving personnel optimization and department migration.
➁ Despite this, some industry observers believe that the current situation is more a reflection of the competitive landscape in the AI field rather than a full-scale crisis in the semiconductor industry.
➂ The headquarters of ASM is not immune to the impact of semiconductor industry fluctuations, with market predictions suggesting that this impact may spread to the Korean branch.
➀ ASML's order book and outlook have been revised downwards, primarily due to cuts in orders from Samsung Electronics and Intel.
➁ ASML and TSMC are expected to begin negotiating the 2025 equipment procurement prices, with ASML possibly adjusting prices in reverse.
➂ The negotiation results between the two companies will not only affect ASML's future performance growth but also affect the pricing of equipment manufacturers in Europe, America, and Japan.
➀ A merger and acquisition deal worth 700 million yuan was announced by Baobao Chemical, a chemical company from Dalian, to invest in Xinhui Lian Semiconductor Technology Co., Ltd. (Xinhui Lian), a semiconductor equipment company, and control 54.6342% of its voting rights.
➁ Baobao Chemical, a chemical company specializing in the production, research, and sales of industrial biocides, has been seeking a second growth curve due to the decline in its main business performance.
➂ Xinhui Lian, a semiconductor equipment company founded in 2019, has completed three rounds of financing and is a national special-purpose and new small giant.
➀ ASML's exposure machine product development requires years of research and development, especially EUV technology; ➁ ASML's supply chain operation is complex but well-managed, with each component produced and delivered precisely; ➂ ASML's business model is based on long-term customer relationships and multiple income sources, including sales, upgrades, maintenance, and after-sales services.
➀ Huahai Qingke has launched a new generation of 12-inch ultra-precision wafer thinning machine, Versatile-GP300, which represents a significant breakthrough in wafer thinning technology and enhances the company's competitiveness in the semiconductor equipment market. ➁ The first Versatile-GP300 machine has successfully completed verification, demonstrating excellent performance and stability, and gaining high recognition from customers. ➂ The machine integrates ultra-precision grinding, polishing, and cleaning units, ensuring high precision and quality in wafer thinning processes. It also provides various system expansion options to meet diverse customer needs.
➀ SiCool Technology has secured a billion-dollar strategic financing, led by Zhongche Capital, Wan Niu Capital, and Wenxin Fund. The funds will be used for the mass delivery of silicon carbide pre-sintered bonding equipment and the commercialization of advanced packaging HBM equipment. ➁ SiCool Technology, founded in December 2018, specializes in chip interconnection technology and has become a leader in the domestic substitution of carbonized silicon pre-sintered bonding equipment. ➂ The company's products include high-precision chip bonding equipment for various scenarios, covering mobile module, power semiconductor, AI chip industry, and advanced packaging bonder. ➃ SiCool Technology will continue to focus on high-precision, high-reliability, and high-efficiency motion control core technology and plan to expand into power semiconductor, carbon silicon, and AI chip HBM directions.
➀ Manz, a semiconductor equipment manufacturer, has delivered 300/510/600/700mm panel-level packaging RDL production lines to multiple international clients. ➁ The company emphasizes the importance of panel-level packaging due to its higher area utilization and lower production costs, especially in the context of growing AI server demands. ➂ Manz is focusing on advancing RDL technology, particularly in high-density glass and diversified chemical processes, to meet the increasing requirements for advanced 2.5D and 3D packaging.