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Analysts: Global semiconductor equipment upcycle confirmed amid worsening supply shortage
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A report from East Money Research Center, citing multiple sources, indicates a confirmed global upcycle in semiconductor equipment. Key component delivery lead times for South Korean equipment have doubled, causing a severe supply shortage and prompting international manufacturers to consider Chinese suppliers. Founder Securities forecasts advanced packaging and semiconductor equipment will remain high-growth areas. Xiangcai Securities notes that global semiconductor equipment sales rose 22.6% year-only to $40.53 billion in Q2 2026, with accelerating growth. CITIC Construction Investment highlights that ASML's performance exceeded expectations and that pricing power is shifting from chip terminals to equipment and component segments. The firm recommends focusing on domestic substitution demands and pricing logic driven by extended lead times from overseas suppliers of valves, tubing, ceramic parts, RF power supplies, and GAS BOXes. Main capital has been net buying several semiconductor equipment concept stocks since September 1.
Source report
Supply Chain Strain Intensifies
According to Cailian Press, delivery lead times for key components of South Korean semiconductor equipment have doubled, creating a severe supply shortage in the equipment industry. In response, international equipment manufacturers are beginning to explore Chinese component suppliers.
Domestic components are also experiencing shortages, as noted by leading equipment manufacturer NAURA Technology Group.
Market Outlook
Founder Securities reports that advanced packaging and semiconductor equipment are expected to remain high-growth areas in the coming years.
Xiangcai Securities stated that, driven by accelerating end-market demand, global semiconductor companies are likely to increase capital expenditures. In Q2 2026, global semiconductor equipment sales rose 22.6% year-on-year to $40.53 billion, with growth accelerating by 8.6 percentage points compared to Q1, confirming robust demand for semiconductor equipment.
Main Capital Flows in September
East Money Choice data shows that since September 1, main capital has net purchased a range of semiconductor equipment concept stocks, including:
- Ultra Pure Materials
- Jinhaitong
- Jingyi Equipment
- Xidian Shares
- Fulede
- Lingxian Shares
- Hengyunchang
Institutional Analysis
CITIC Construction Investment highlights the following key points:
- TSMC has hit a record high
- ASML's overall performance significantly exceeded expectations
- Global semiconductor equipment components are experiencing an unprecedented across-the-board price hike
- Pricing power in the semiconductor value chain is structurally shifting from chip terminals to equipment and component segments
- Component firms are relatively small-scale with high fixed cost ratios, meaning price increases directly translate into profits
- Production line expansion cycles last 12–18 months, resulting in the lowest supply elasticity
The firm recommends paying attention to:
- Domestic substitution demands
- Pricing logic driven by extended lead times from overseas suppliers of valves, tubing, ceramic parts, RF power supplies, and GAS BOXes
Source: East Money Research Center
Source
东方财富网-产经资讯Eastern
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Global semiconductor equipment upcycle confirmed as supply shortages drive price hikes