The lithography machine is the “jewel in the crown of industry”. It is the most complex and expensive equipment in chip manufacturing, and domestic replacement is imperative.
The Zhitong Finance App learned that Anxin Securities released a research report saying that in 2022, the global lithography machine market exceeded 20 billion US dollars, and the three giants ASML, Canon, and Nikon monopolized most of the market share. The lithography machine revenue reached 16.1 billion US dollars, 2 billion US dollars, and 1.5 billion US dollars respectively, with market shares of 82%, 10%, and 8%, respectively. In ultra-high-end EUV lithography machines, ASML basically has a monopoly position. The bank said that lithography machines are “jewels in the crown of industry” and are the most complex and expensive equipment in chip manufacturing, so domestic replacement is imperative.
The main views of Anxin Securities are as follows:
The lithography machine is the core equipment of chip manufacturing and plays a key role in process upgrading
In the chip manufacturing process, the lithography process is the most critical step that can transfer the pattern from the photomask to the substrate (usually silicon) with high accuracy. One of the main goals of chip process upgrades is to achieve smaller feature sizes on semiconductor devices. Lithography machines with advanced technology, such as extreme ultraviolet (EUV) lithography, allow shorter optical wavelengths, so they can create smaller patterns and achieve higher resolution, which plays a key role in chip process upgrades. DUV lithography machines achieve a maximum process of 7 nm through multiple exposures, while EUV lithography machines with shorter wavelengths can achieve 5 nm and below.
Domestic 28nm immersion lithography machine achieved a breakthrough
There is still a gap between domestic lithography machines and international manufacturers in terms of technology. Among them, Shanghai Microelectronics is a leading domestic lithography company. Its SSX600 series lithography machines can meet the lithography process requirements of 90nm, 110nm, and 280nm key and non-critical layers of IC front-end manufacturing, and can be used for large-scale industrial production of 8-inch or 12-inch lines. Based on the previous 90nm, Shanghai Microelectronics will soon mass-produce 28nm immersion lithography machines and deliver the first domestically produced SSA/800-10W lithography equipment in 2023.
Domestic manufacturers have achieved breakthroughs in several lithography machine parts
The global lithography machine parts market is about 12.4 billion US dollars. In the parts market, domestic manufacturers have achieved breakthroughs in many areas. The DUV optical lens developed by Maolai Optics has been used in SMEE's domestic lithography machines. The company's semiconductor inspection equipment optical module supplies KLA. The company's projector resolution has reached 30nm or less, while the foreign Zeiss resolution is less than 0.25nm; currently, domestic research institutes have made some progress with EUV light sources.
As early as 2017, the “Extreme Ultraviolet Lithography Key Technology Research” of the Changchun Institute of Optics, Fine Mechanics and Physics of the Chinese Academy of Sciences was approved by the National 02 Project, thus advancing China's EUV technology research and development; Fuguang Co., Ltd. is expected to provide high-precision optical lenses and optical systems for lithography machines and other fields; Sudavig provides positioning grating components to SMEE. The company's grating scale cycle accuracy is less than 1 nm, and the company's nano-imprinting technology is leading in China;
In terms of optical crystals, Fujing Technology can supply LBO crystals, BBO crystals, Nd:YVO4 crystals, magneto-optical crystals; in terms of lasers, the unevenness of the light sources provided by Juguang Technology is controlled below 1%, and the unevenness of foreign FLSBA light sources is 3% to 5%; Anteryon, controlled by Jingfang Technology's subsidiary, is a technology innovation company with hybrid lenses and wafer-level miniature optical device process technology design, characteristic materials and mass production capabilities. Its products can be widely used in semiconductor precision equipment, and currently ASML continues to supply it. Optoelectronics is the leading high-end grating encoder in China. The accuracy of the company's grating encoder (used to measure alignment accuracy) is 1um/m, and the accuracy of the foreign Heidenhain Company is 3um/m.
Beneficial targets: Juguang Technology (688167.SH), Jingfang Technology (603005.SH); recommended focus on Maolai Optics (), Fujing Technology (002222.SZ); lithography machine optical lenses focus on Fuguang shares (); lithography machine light source systems focus on wavelength optoelectronics (301421.SZ), Oppo Optoelectronics (002338.SZ); splitters focus on Tengjing Technology (); temperature control equipment recommends Tongfei shares (300990.SZ); ceramic components 688502.SH 688010.SH 688195.SH I recommend China Porcelain Electronics (003031.SZ), and it is recommended to focus on Xu Optoelectronics (600353.SH); direct lithography equipment is recommended to focus on Core Chip Microinstallation (688630.SH), Su Dawig (300331.SZ), etc.