According to a research report by CITIC Construction Investment, the semiconductor equipment sector is currently riding a sustained global upswing, and it is advisable to closely monitor the process of overseas expansion. The latest forecast from SEMI (Semiconductor Equipment and Materials International) indicates that sales of semiconductor equipment are set to experience continuous growth over the next three years. Specifically, global sales of semiconductor manufacturing equipment are projected to reach a record high of USD 165.9 billion in 2026, marking a year-on-year increase of 23.2%. This upward trajectory is anticipated to persist until 2028, with total sales expected to soar to USD 229.5 billion, thus achieving five consecutive years of growth. At present, semiconductor equipment components worldwide are undergoing a wave of price hikes across the entire supply chain. This shift has seen the pricing power within the semiconductor industry transition from end-users of chips to suppliers of equipment and components. Given the relatively small scale of component companies and their high proportion of fixed costs, these price increases can be directly converted into profits. Furthermore, the production line expansion cycle spans 12 to 18 months, resulting in limited supply elasticity. Therefore, it is crucial to pay attention to the demand for domestic substitution and the rationale behind price increases caused by extended lead times from overseas suppliers of critical components such as valves and piping, ceramic parts, RF power supplies, and GAS BOXes.