Recently, the relevant departments said that with the in-depth development of high-quality, equipment update demand will continue to expand, it is estimated that the demand for equipment update will be a huge market of more than 5 trillion, and semiconductor equipment is considered to be the main subdivision direction, is expected to benefit from it.

Affected by this, the semiconductor plate has changed. From the perspective of capital flow, foreign capital is also continuing to "sweep goods" related leading, and the net purchase of northbound funds reaches 2.441 billion yuan per week (data source: Safflower, as of 2024/3/6).

Huachuang Securities pointed out that semiconductor equipment usually depends more on the breakthrough of new technology, and the breakthrough of technical bottlenecks and the release of advanced production capacity often bring a new wave of equipment updates and promote the increase of downstream capital expenditure.

According to IDC's estimate, this year's global semiconductor revenue is expected to rebound to 630.2 billion US dollars, a growth of 20%, of which storage and data center are the two largest growth areas, which is mainly due to the rapid development of AI technology and huge potential demand, and SEMI has predicted that the semiconductor industry is expected to achieve a "reversal of adversity" this year. Capital spending will also recover modestly.

Statistics from the US Semiconductor Industry Association (SIA) show that the semiconductor cycle has bottomed out in the second quarter of last year. Since June last year, the year-on-year decline in global semiconductor sales has narrowed for four consecutive months, and the upward trend is more likely in 2024.

Data source: SIA

As the recovery trend of the plate is gradually clear, the layout of ETF related subdivision topics through the capital channel has also become one of the trends, among which semiconductor equipment has become one of the main directions of capital attention. The data show that the $semiconductor equipment ETF (561980) $in the past 5 days has a cumulative net subscription of 37.75 million yuan, with a net flow rate of 46%.

Data show that the semiconductor equipment ETF (561980) is the only ETF that tracks the China Securities Semi-conductor Index in the field. Compared with other mainstream semiconductor theme indexes, the China Securities Semi-conductor index focuses more on upstream industrial chain companies such as semiconductor equipment and materials. Its "equipment" content is the highest (according to Shenwan three-level industry classification).

With the solid fundamentals of semiconductor equipment and multiple factors at home and abroad, the recent performance of the CSI semi-conductor index is eye-striking. Since the February 5 low, the benchmark index has rebounded nearly 25 per cent. In the year, the semi-guide index of the market performance since this year in the A-share mainstream semiconductor theme index first. In the context of industry recovery and continuous repair of plate sentiment, the follow-up plate may still have repair space.