During the performance disclosure period, why do semiconductor equipment companies always manage to be "top performers"?

During the annual report season each year, the semiconductor equipment sector performs exceptionally well, surpassing other industries for three consecutive years during the earnings disclosure period. From 2023 to 2025, the excess returns of the semiconductor equipment ETF E Fund (159558), which tracks the CSI Semiconductor Material & Equipment Index, are 2.8%, 3.1%, and 2.0% respectively during the earnings period. The core reason lies in the high certainty of performance and strong stability of growth, as the demand for semiconductor equipment is driven by AI computing power and localization, making it a "top student" favored by capital