The mainstream storage chips are divided into DRAM and NAND. DRAM is like building a vast, uniform “single-story neighborhood” on a flat surface, where each “house” (capacitor and transistor) is extremely small and precise; whereas 3D NAND resembles constructing a “skyscraper,” significantly increasing storage density by stacking hundreds of layers vertically.
Compared to logic chips, the manufacturing process of storage chips involves some particularly critical equipment, which means these devices will benefit more from the potential expansion of the storage industry chain.
1. High Aspect Ratio Etching Machines
This is a hallmark device for 3D NAND flash memory manufacturing and serves as its technological foundation. Its function is to penetrate all stacked layers at once, forming vertical channel holes, which are subsequently filled to create the channels and gates of the storage units.
The structure of logic chips is mostly spread out in a two-dimensional plane, and the aspect ratio (the ratio of depth to aperture) required for etching is relatively low. In contrast, 3D NAND requires etching deep holes or trenches exceeding 100 micrometers in depth and only about 100 nanometers in diameter to stack hundreds of layers vertically, with aspect ratios often exceeding 60:1, and even higher.
Related Companies:
SMIC: A leader in etching equipment, its plasma etching machines have been applied in advanced 3D NAND production lines, covering processes from 5 to 100 nanometers. It has entered the supply chains of Yangtze Memory Technologies and ChangXin Memory Technologies. Its Primo Twin-Star® etching machine has achieved a breakthrough in sub-angstrom precision of 0.2A, equivalent to one-tenth of the diameter of a silicon atom, and has been mass-produced in 5-nanometer and more advanced production lines. Notably, the company’s thin film equipment business experienced explosive growth in Q3 of 25 years ago, with LPCVD and ALD equipment revenue reaching 403 million yuan, a year-on-year increase of 1332.69%, successfully opening a second growth curve.
2. Overlay Measurement Equipment
Logic chips also require measurement of the alignment accuracy (overlay error) between layers, but the requirements are relatively low. In contrast, 3D NAND has significantly higher requirements, as any slight misalignment during the stacking of hundreds of layers will accumulate vertically, causing the channel holes on the top layer to misalign with the circuits on the bottom layer, resulting in the entire wafer being scrapped. Therefore, storage chip manufacturers need to conduct overlay error measurements more frequently and accurately.
Huafeng Measurement and Control: A benchmark in testing equipment. The company focuses on the semiconductor testing equipment field, with products covering multiple sub-markets such as analog and mixed-signal, showcasing a high gross margin of 74.30%, reflecting a technical barrier.
Jingzhida: Focused on storage chip testing. In Q3 of 25, it secured a single order exceeding 300 million yuan, validating its product capabilities in the market. The first high-speed testing machine independently developed by the company has been successfully delivered to key domestic customers, further solidifying its strategic advantage in the storage testing equipment field.
Jingce Electronics: Entered the storage chip production line with its self-developed optical measurement equipment, achieving nanometer-level precision in overlay error detection, covering clients such as Yangtze Memory Technologies, benefiting from the rigid demand for yield control in storage manufacturers.
3. Atomic Layer Deposition Equipment (ALD) for Capacitor Structures
Each DRAM storage unit requires a cylindrical or three-dimensional capacitor to store charge, which needs to have as large a surface area as possible within a very small footprint. Therefore, ALD equipment is required to deposit a uniform, defect-free high-k dielectric layer on the inner walls of deep holes with atomic-level precision, as the quality of this dielectric layer directly determines the performance and reliability of DRAM.
North Huachuang: ALD equipment has achieved mass application in processes of 28 nanometers and above, and continues to develop higher precision models. The expansion of DRAM capacity will drive the growth of demand for its equipment.
Tuojing Technology: A core supplier of film deposition equipment for Yangtze Memory Technologies and Hefei ChangXin, with technology covering processes of 28nm and above. Several new PECVD and ALD devices have passed verification and are in mass production.
Other Equipment:
Cleaning Equipment
Shengmei Shanghai: The company has achieved global breakthroughs in electroplating technology, with a market share of 8.2%. Its self-developed single-wafer high-temperature SPM equipment has passed verification, further improving its product line layout.
Chemical Mechanical Polishing (CMP) Equipment
Huahai Qingke: CMP equipment is the company’s flagship product, with market share continuously increasing in the first half of 2025. The company’s Universal-H300 series CMP equipment has received bulk repeat orders and is being shipped at scale, with a significant increase in advanced process orders. Based on its technological accumulation in the CMP equipment field, the company has successfully developed new products such as thinning equipment and cutting equipment.
The above is merely a personal opinion and does not constitute any investment advice or basis.
All information and data in this article are not guaranteed for accuracy.
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