China's core heart collapsed?The US side has spared no effort to obstruct ChinaChipsindustrial development, through the implementation of export controls and the enlisting of allies, culminated in the formation of a trilateral agreement between the United States, Japan and the Netherlands, which aims to limit the situation across the boardSemiconductorsEquipment export. However, the implementation of the tripartite agreement did not achieve the desired effect of the US side, on the contrary, it had a counterproductive effect. JapanSemiconductorsAccording to the latest statistics released by the Manufacturing Devices Association, the worldSemiconductorsEquipment market sales fell 11% year-on-year, marking the second consecutive quarter of decline. In addition, sales in all regions except the Chinese market have been reportedSignificant decline。However, the Chinese market bucked the trend and soared, with a year-on-year increase of 42%, accounting for the world's totalSemiconductors43% of total sales. This indicates that Chinese mainland has begun to accelerate expansion amid the tightening of US restrictionsChipsmanufacturing plants, and actively buying and stockpiling equipment to increase their own production capacity. At the same time, foreign equipment manufacturers are also very cooperative, and the proportion of revenue from the Chinese market has increased significantly. Although the share of domestic manufacturers is not large, it is gradually growing, and China is acceleratingSemiconductorsDomestic substitution of equipment. Foreign media believe that China'sChipsThe development of the industry is unstoppable, although the United States has restricted the export of high-end equipment, but China has focused on mature processes, a large number of purchase of reserve equipment, will start from the mature process, and finally achieve the goal of breaking through advanced equipment. It can be said that the restrictions imposed by the US side will only be met in the end.
The United States has been doing everything in its power to thwart ChinaChipsIndustrial development. Not only have they taken unilateral export control measures in the past, but they have also begun to enlist allies to restrict ChinaSemiconductorsEquipment imports. The three countries, the United States, Japan and the Netherlands, reached an agreement aimed at comprehensive restrictionsSemiconductorsExport of equipment. However, such restrictive measures did not achieve the desired effect of the US side, but instead triggered a counterproductive effect.
Against the backdrop of this restriction agreement, Japan and the Netherlands have successively implemented export control measures. However, this did not allow the US side to achieve the desired results, on the contrary, the Chinese market became a star of growth against the trend. And globallySemiconductorsSales in the equipment market also appearedSignificant declinesituation.
Recently JapanSemiconductorsStatistics released by the Manufacturing Devices Association show that globallySemiconductorsSales in the equipment market fell by 11 percent year-on-year. This is the biggest drop in four years, and it has been declining for two consecutive quarters. Sales were seen in all regions except ChinaSignificant declineFor example, the Taiwan market in China fell by 48% year-on-year, the Japanese market fell by 29%, the South Korean market fell by 19%, and the North American market fell by 5%.
caused by this worldwideSemiconductorsThere are two main reasons for the decline in the equipment market. On the one hand, globalChipsThe market situation is downward, manyFabsPlans to expand production capacity have been slowed down and even plans to build new plants have been halted. On the other hand, it is due to the export control measures of the US side, which is restrictedSemiconductorsNormal shipment of equipment.
However, this situation is unusual in the Chinese market. The Chinese market has shown an exceptionally hot trend in the same situation, with a significant year-on-year growth of 42% in the third quarter of this year, accounting for the worldSemiconductors43% of the sales of the equipment market. Moreover, in the face of increasing restrictions from the United States, the Chinese market has dominated the world for two consecutive quartersSemiconductorsNo. 1 in the equipment market.
Why has the Chinese market been able to buck the trend against the backdrop of restrictive measures?This is mainly because Chinese mainland has begun to accelerate expansionChipsmanufacturing plants, and actively purchasing and stockpiling various equipment to increase their own production capacity.
ChineseSMIC, has invested 170 billion yuan in Beijing,Shenzhen, Shanghai and Tianjin, four cities were establishedFabs。In addition, there is HuahongSemiconductors, Hefei Jinghe, Shanghai Jita and other companies are also actively carrying out expansion work. These expanded factories require more equipment, and the U.S. side continues to shrink export control standards. As a result, Chinese companies have seized on the limited time before the restrictions were implemented to buy equipment in large quantities, even if they do not have access to advanced equipment, to prevent further tightening of restrictions in the future and affecting ongoing factory construction.
At the same time, foreign equipment manufacturers are also very willing to cooperate. For example, the NetherlandsLithography machineGiantsasml, which generated 46% of its revenue from the Chinese market in the third quarter. According to Japanese statistics, not onlyasmlThe same is true for other equipment manufacturers, whose revenue from the Chinese market has increased significantly in the third quarter of this year, basically reaching 40%. The three major equipment manufacturers in the United States, such as Applied Materials, Lam Research Group, and Kelei, accounted for % of their revenue from the Chinese market. Tokyo Electron, a Japanese equipment manufacturer, has increased its revenue from the Chinese market to 43%.
Although most of these equipment are mature process equipment, they also promote the growth of mature process capacity in China. It is expected that by 2027, China's mature process capacity will account for 33%. Although domestic equipment does not have an advantage in market share, its market share is gradually increasing. Including North Huachuang, Huahai Qingke, and China MicroSemiconductorsand other domestic equipment manufacturers have achieved the best sales performance, because China is acceleratingSemiconductorsDomestic substitution of equipment.
To sum up, foreign media believe that China'sChipsThe development of the industry is unstoppable. Although the U.S. has restricted the export of high-end equipment, China has focused on accelerating the development of mature processes, and is expected to gain an advantage in the field of mature processes. At the same time, on the basis of mature processes, China is expected to break through the limitations of advanced equipment. Therefore, the restrictive measures of the US side will only fall short in the end.