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SMIC releases significant industry signals! On May 19, SMIC stated during a research meeting that the current global production capacity is tight, demand related to AI is strong and profitable, and products such as mobile phones, computers, IoT, and network communication that were originally outsourced overseas are difficult to continue production, leading to a large number of overseas customer orders shifting to domestic manufacturing. China's local capacity construction is fast and large-scale, capable of undertaking a significant amount of returning orders.

Currently, SMIC predicts that this trend is expected to continue until 2027, injecting strong confidence into the sustainability of upstream equipment orders. Boosted by this, SMIC surged over 14% in the afternoon, Piotech rose 12%, and Skyverse approached a 20cm limit up, with several stocks like Northern Huachuang and Changchuan Technology reaching new highs. In the CPU/GPU sector, Cambricon rose over 3%, setting a new stock price high, with Haiguang Information following suit.

In terms of ETFs, the Semiconductor Equipment ETF China Merchants (561980) rose over 5% as of 14:06, with the intraday price refreshing its listing high for the 18th time this year, and the underlying index up over 60% this year. Notably, Northern Huachuang and Zhongwei Company together account for 29% of this ETF, while Cambricon and Haiguang Information together account for 15%, and SMIC accounts for 5%, indicating a high concentration of leading companies that can fully benefit from multiple catalysts such as the expansion of storage listings, storage cycles, breakthroughs in advanced processes, increased computing power, and domestic substitution.

According to CITIC Construction Investment, SMIC has produced chips with DUV lithography machines and innovative solutions that rival TSMC's 3nm advanced process performance, reducing the process gap to less than two years. Currently, the next-generation Mate 90 from Huawei is equipped with the 9050 chip, which is processed by SMIC and achieves innovative breakthroughs in technical solutions, almost matching the performance of TSMC's 3nm process N31 chip.

Industry insiders believe that currently, SMIC's absolute market value is relatively low compared to the market expectation of Changxin Storage's 30 billion market value listing, indicating a certain space for lagging growth. At the same time, Northern Huachuang, Zhongwei Company, and Cambricon are limited by high stock prices or high thresholds, making it more convenient to layout through index ETFs.

The Semiconductor Equipment ETF China Merchants (561980) tracks the CSI Semiconductor Index and is one of the few A-shares that simultaneously covers 100% of the four core chip industry chains: equipment, materials, design, and manufacturing. It has a comprehensive layout for leading companies such as SMIC, Zhongwei Company, Northern Huachuang, Cambricon, Haiguang Information, and Piotech, with 75% of the top ten concentration ranking first among similar indices in terms of sci-tech chips and semiconductor materials and equipment, potentially offering greater resilience in this round of semiconductor upcycle