CITIC Securities anticipates that technical advancements in at least three key areas will significantly elevate both the utilization and prominence of etching equipment. These areas include: Firstly, the widespread implementation of multiple patterning techniques in photolithography; secondly, the escalating demand for 3D stacked memory solutions and near-memory computing architectures; and thirdly, the ongoing evolution of fundamental transistor structures.

Looking ahead, the trajectory towards localization within the semiconductor equipment sector is unmistakable over the long haul. Meanwhile, in the near term, expansions in downstream production capacities are poised to propel the industry into a fresh phase of growth. Consequently, it is prudent to keep a close eye on the emerging opportunities for domestic etching equipment producers, as well as for companies specializing in related auxiliary equipment and component manufacturing.