On October 12, at the 26th China International Industry Fair Integrated Circuits Summit Forum, Yin Zhihao, the Chairman of Advanced Micro-Fabrication Equipment Inc. (AMEC), issued a stark warning: the current surge in AI investment may well be a bubble. He noted that the enhancement in chip production capabilities is failing to keep pace with the explosive growth of the semiconductor equipment sector, while capital expenditures across the industry are undergoing severe volatility. Yin stressed that the proliferation of domestic semiconductor equipment firms makes industry consolidation an unavoidable outcome. Looking ahead, he emphasized that the focus must shift from mere catch-up efforts to fostering independent innovation, ultimately aiming to surpass global advanced standards. AMEC has outlined plans to develop 100 specialized equipment models over the next three to five years, backed by a total R&D investment of 13 billion yuan, with the goal of boosting the overall coverage of integrated circuit equipment to over 60% by 2030.