Photoresist is the “lifeblood” material for microelectronics and fine pattern processing. With the rapid development of large-scale and ultra-large-scale integrated circuits, the research and application of photoresist have become increasingly heated.
Lithography equipment, the “crown jewel” of chip manufacturing, uses photo printing technology to expose and print mask patterns onto silicon wafers, directly influencing the chip manufacturing process.
Recently, the prices of some chemical raw materials have surged, and the demand for self-sufficient chips has become increasingly strong. Under this dual stimulus, the semiconductor materials market is experiencing a robust recovery.
In this issue, we delve into companies in the fields of photoresist, lithography equipment, and chips, selecting 10 companies that have cross-connections in all three areas for research and reference.
*Disclaimer: Be cautious of the risks associated with intensified market competition and the relatively small revenue share of the following companies. The following content does not constitute any investment advice, guidance, or commitment, and is for academic discussion only. Please read with caution.
First Company: Huate Gas
Main Business: Research, production, and sales of specialty gases, supplemented by ordinary industrial gases and related equipment and engineering services.
Photoresist: Independently developed four types of lithography gases (Neon, Helium, Krypton, Xenon mixtures), the only domestic supplier, certified by ASML and GIGAPHOTON.
Lithography Equipment: Products in the lithography gas series (such as Ar/Ne/Xe mixtures) are certified by ASML and are used in the laser light source systems of lithography machines.
Chip Field: Serves over 85% of domestic 12-inch wafer fabs (such as SMIC and Yangtze Memory Technologies) and has entered the supply chains of Intel and TSMC.
Second Company: Guolin Technology
Main Business: Large ozone generators and ozone system integration equipment.
Photoresist: Subsidiary’s ozone cleaning equipment is used for contaminant removal before and after photoresist coating.
Lithography Equipment: High-concentration ozone generators can be used in the CVD/ALD processes of lithography machines, suitable for processes below 7nm.
Chip Field: Ozone cleaning technology is applied in semiconductor wafer manufacturing, mastering several key technologies..
Third Company: Kemet Gas
Main Business: Recovery and utilization of petrochemical tail gas, production of food-grade carbon dioxide and electronic specialty gases.
Photoresist: The electronic specialty gas project produces ultra-pure gases for chips (such as hydrogen fluoride), some of which are used in photoresist supporting processes.
Lithography Equipment: The lithography gas products of the holding subsidiary Kemet Electronics (such as Kr/F₂ mixtures) are certified by ASML’s subsidiary Cymer.
Chip Field: Layout for domestic production of electronic specialty gases, aiming to achieve self-sufficiency in key gases for chip manufacturing..
Fourth Company:Chip Microelectronics
Main Business: Research and manufacture of direct-write lithography equipment, covering PCB and general semiconductor fields.
Photoresist: Direct-write lithography equipment is used for photoresist patterning processes (such as Microbump exposure), but does not directly produce photoresist.
Lithography Equipment: Mask lithography machines support processes from 100-400nm, mainly used for mask production.
Chip Field: Provides advanced packaging direct-write lithography solutions for general semiconductor customers..
Fifth Company: ****
Main Business: Research and development of high-purity clean materials, including vacuum chambers, pipelines, etc.
Photoresist: Not directly involved in photoresist production, but the vacuum systems (AdvanTorr brand) ensure a high-purity environment for photoresist handling.
Lithography Equipment: Vacuum and gas delivery systems (NanoPure brand) have entered the supply chains of ASML and other lithography equipment manufacturers.
Chip Field: High-precision semiconductor components are applied in key processes such as etching and deposition in chip manufacturing..
Company Highlights:This company is the most noteworthy hard technology target for 2025! Its semiconductor business revenue accounts for over 45%, with a gross margin of 62%, and its technological barriers surpass its peers; provides mRNA lipid nanoparticle (LNP) preparation systems for Pfizer and CanSino, with a global market share of 15%;2000L bioreactor cell survival rate of 98%, technology surpassing Germany’s Merck, with a revenue surge of 120% in 2023; Current PE is only 27 times, compared to Fuchuang Precision (45 times), with a mid-term market value projected at 21 billion (current price doubled); R&D investment of 420 million in 2024, with patents like “no residual bubble trap” set to explode in the industry.
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The length of the article affects readability, so please move to “Top 10 Core Companies in Chip, Photoresist, and Lithography Equipment (Part 2)” to continue reading.
Source丨Jingxun Research Report