An analysis by Huatai Securities indicates that the second half of 2025 could witness an accelerated "East Rising, West Declining" trend in China's semiconductor equipment market. According to available statistics, the performance of 32 semiconductor manufacturing firms and 20 equipment companies worldwide reveals that, in the second quarter of 2025, the total global revenue of equipment companies surged by 24% year-on-year, reaching a staggering USD 34 billion.

Due to the high base effect from the previous year, revenue in the Chinese market experienced a slight dip of 1% in the first half of 2025, presenting a deviation from the cyclical patterns observed in overseas markets. A thorough analysis of relevant company guidance suggests that semiconductor capital expenditures are anticipated to climb by 14% year-on-year in 2025, hitting USD 148 billion. Meanwhile, the global equipment market size is forecasted to expand by 12% year-on-year, reaching USD 142 billion.