877 lines
40 KiB
HTML
877 lines
40 KiB
HTML
|
||
<!DOCTYPE html>
|
||
<html lang="zh-CN">
|
||
<head>
|
||
<meta charset="utf-8" />
|
||
<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
|
||
<title>光刻机行业深度分析报告</title>
|
||
<link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800|Noto+Sans+SC:300,400,500,700&display=swap" rel="stylesheet" />
|
||
<!-- Font Awesome Icons -->
|
||
<script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
|
||
<!-- Tailwind CSS & DaisyUI -->
|
||
<link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
|
||
<link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
|
||
<link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
|
||
<style>
|
||
body {
|
||
font-family: 'Inter', 'Noto Sans SC', sans-serif;
|
||
background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
|
||
min-height: 100vh;
|
||
color: #e2e8f0;
|
||
}
|
||
|
||
.card {
|
||
background: rgba(30, 41, 59, 0.7);
|
||
backdrop-filter: blur(10px);
|
||
border: 1px solid rgba(148, 163, 184, 0.2);
|
||
box-shadow: 0 10px 30px rgba(0, 0, 0, 0.3);
|
||
}
|
||
|
||
.gradient-text {
|
||
background: linear-gradient(90deg, #60a5fa, #818cf8);
|
||
-webkit-background-clip: text;
|
||
-webkit-text-fill-color: transparent;
|
||
background-clip: text;
|
||
}
|
||
|
||
.highlight-box {
|
||
background: rgba(99, 102, 241, 0.1);
|
||
border-left: 4px solid #6366f1;
|
||
}
|
||
|
||
.timeline-dot {
|
||
width: 16px;
|
||
height: 16px;
|
||
background: #6366f1;
|
||
border-radius: 50%;
|
||
position: relative;
|
||
}
|
||
|
||
.timeline-dot::after {
|
||
content: '';
|
||
position: absolute;
|
||
width: 2px;
|
||
height: 100%;
|
||
background: rgba(99, 102, 241, 0.3);
|
||
top: 16px;
|
||
left: 7px;
|
||
}
|
||
|
||
.table-container {
|
||
overflow-x: auto;
|
||
scrollbar-width: thin;
|
||
scrollbar-color: #4b5563 #1e293b;
|
||
}
|
||
|
||
.table-container::-webkit-scrollbar {
|
||
height: 8px;
|
||
}
|
||
|
||
.table-container::-webkit-scrollbar-track {
|
||
background: #1e293b;
|
||
}
|
||
|
||
.table-container::-webkit-scrollbar-thumb {
|
||
background-color: #4b5563;
|
||
border-radius: 4px;
|
||
}
|
||
|
||
table {
|
||
border-collapse: separate;
|
||
border-spacing: 0;
|
||
}
|
||
|
||
th, td {
|
||
padding: 12px 16px;
|
||
text-align: left;
|
||
}
|
||
|
||
th {
|
||
background: rgba(30, 41, 59, 0.8);
|
||
position: sticky;
|
||
top: 0;
|
||
z-index: 10;
|
||
}
|
||
|
||
tr:nth-child(even) {
|
||
background: rgba(51, 65, 85, 0.3);
|
||
}
|
||
|
||
tr:hover {
|
||
background: rgba(99, 102, 241, 0.1);
|
||
}
|
||
|
||
.tag {
|
||
display: inline-block;
|
||
padding: 2px 8px;
|
||
border-radius: 4px;
|
||
font-size: 0.75rem;
|
||
margin-right: 4px;
|
||
margin-bottom: 4px;
|
||
}
|
||
|
||
.tag-primary {
|
||
background: rgba(99, 102, 241, 0.2);
|
||
color: #a5b4fc;
|
||
}
|
||
|
||
.tag-secondary {
|
||
background: rgba(14, 165, 233, 0.2);
|
||
color: #67e8f9;
|
||
}
|
||
|
||
.tag-success {
|
||
background: rgba(34, 197, 94, 0.2);
|
||
color: #86efac;
|
||
}
|
||
|
||
.tag-warning {
|
||
background: rgba(251, 146, 60, 0.2);
|
||
color: #fdba74;
|
||
}
|
||
|
||
.tag-danger {
|
||
background: rgba(239, 68, 68, 0.2);
|
||
color: #fca5a5;
|
||
}
|
||
|
||
.risk-meter {
|
||
height: 8px;
|
||
background: rgba(51, 65, 85, 0.5);
|
||
border-radius: 4px;
|
||
overflow: hidden;
|
||
}
|
||
|
||
.risk-meter-fill {
|
||
height: 100%;
|
||
background: linear-gradient(90deg, #10b981, #f59e0b, #ef4444);
|
||
}
|
||
|
||
#particles-js {
|
||
position: fixed;
|
||
width: 100%;
|
||
height: 100%;
|
||
top: 0;
|
||
left: 0;
|
||
z-index: -1;
|
||
}
|
||
|
||
.section-title {
|
||
position: relative;
|
||
padding-bottom: 12px;
|
||
margin-bottom: 24px;
|
||
}
|
||
|
||
.section-title::after {
|
||
content: '';
|
||
position: absolute;
|
||
bottom: 0;
|
||
left: 0;
|
||
width: 60px;
|
||
height: 3px;
|
||
background: linear-gradient(90deg, #6366f1, #818cf8);
|
||
border-radius: 2px;
|
||
}
|
||
</style>
|
||
</head>
|
||
<body>
|
||
<div id="particles-js"></div>
|
||
|
||
<div class="container mx-auto px-4 py-8 max-w-6xl">
|
||
<!-- 标题部分 -->
|
||
<div class="text-center mb-12">
|
||
<h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">光刻机行业深度分析报告</h1>
|
||
<p class="text-lg text-slate-300 max-w-3xl mx-auto">
|
||
光刻机国产化处于"政策强制+技术验证"的临界点，低端放量在即，高端仍处0-1突破期
|
||
</p>
|
||
</div>
|
||
|
||
<!-- 概念事件 -->
|
||
<div class="card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">概念事件</h2>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 lg:grid-cols-4 gap-6">
|
||
<div class="highlight-box rounded-lg p-4">
|
||
<div class="flex items-start">
|
||
<div class="timeline-dot mr-4 mt-1"></div>
|
||
<div>
|
||
<h3 class="font-semibold text-blue-300 mb-1">2024年9月</h3>
|
||
<p class="text-sm">工信部推广国产DUV光刻机（套刻≤8nm），首次明确国产KrF/ArF光刻机列入《首台（套）重大技术装备目录》</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="highlight-box rounded-lg p-4">
|
||
<div class="flex items-start">
|
||
<div class="timeline-dot mr-4 mt-1"></div>
|
||
<div>
|
||
<h3 class="font-semibold text-blue-300 mb-1">2024年12月</h3>
|
||
<p class="text-sm">中泰电子、国金电子等机构密集发布光刻机产业链报告，提出"从0到1"赛道逻辑</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="highlight-box rounded-lg p-4">
|
||
<div class="flex items-start">
|
||
<div class="timeline-dot mr-4 mt-1"></div>
|
||
<div>
|
||
<h3 class="font-semibold text-blue-300 mb-1">2025年3月</h3>
|
||
<p class="text-sm">上海微电子更新光刻机专利，28nm浸没式DUV样机交付客户验证（路演显示良率约50%）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="highlight-box rounded-lg p-4">
|
||
<div class="flex items-start">
|
||
<div class="timeline-dot mr-4 mt-1"></div>
|
||
<div>
|
||
<h3 class="font-semibold text-blue-300 mb-1">2025年7月</h3>
|
||
<p class="text-sm">芯上微装500nm i线光刻机搬入头部fab厂，供应链物镜价值量从300万提升至500-600万</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 核心观点摘要 -->
|
||
<div class="card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">核心观点摘要</h2>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-6">
|
||
<div class="bg-slate-800/50 rounded-lg p-5 border border-slate-700/50">
|
||
<div class="text-blue-400 mb-3">
|
||
<i class="fas fa-chart-line text-2xl"></i>
|
||
</div>
|
||
<h3 class="font-semibold text-lg mb-2">阶段判断</h3>
|
||
<p class="text-sm text-slate-300">光刻机国产化处于"政策强制+技术验证"的临界点，低端（90nm-28nm）放量在即，高端（EUV）仍处0-1突破期</p>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/50 rounded-lg p-5 border border-slate-700/50">
|
||
<div class="text-blue-400 mb-3">
|
||
<i class="fas fa-rocket text-2xl"></i>
|
||
</div>
|
||
<h3 class="font-semibold text-lg mb-2">核心驱动力</h3>
|
||
<p class="text-sm text-slate-300">美国对华EUV禁运+荷兰DUV许可证收紧，倒逼国产替代从"可选"变"必选"</p>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/50 rounded-lg p-5 border border-slate-700/50">
|
||
<div class="text-blue-400 mb-3">
|
||
<i class="fas fa-gem text-2xl"></i>
|
||
</div>
|
||
<h3 class="font-semibold text-lg mb-2">未来潜力</h3>
|
||
<p class="text-sm text-slate-300">2025-2027年国产28nm光刻机若通过验证，可覆盖80%成熟制程需求，供应链公司订单弹性超10倍</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 核心逻辑与市场认知 -->
|
||
<div class="card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">核心逻辑与市场认知分析</h2>
|
||
|
||
<div class="mb-8">
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">核心驱动力</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="bg-slate-800/30 rounded-lg p-4">
|
||
<h4 class="font-medium mb-2 flex items-center">
|
||
<i class="fas fa-microchip text-blue-400 mr-2"></i>
|
||
技术突破
|
||
</h4>
|
||
<p class="text-sm text-slate-300">上海微电子28nm浸没式DUV已完成0-1，物镜/光源/双工台三大核心部件国产化率从5%提升至30%</p>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-4">
|
||
<h4 class="font-medium mb-2 flex items-center">
|
||
<i class="fas fa-landmark text-blue-400 mr-2"></i>
|
||
政策加码
|
||
</h4>
|
||
<p class="text-sm text-slate-300">2024年工信部目录将国产KrF/ArF光刻机列为"首台套"，地方政府补贴比例达设备采购价的20%</p>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-4">
|
||
<h4 class="font-medium mb-2 flex items-center">
|
||
<i class="fas fa-industry text-blue-400 mr-2"></i>
|
||
需求爆发
|
||
</h4>
|
||
<p class="text-sm text-slate-300">国内12英寸晶圆厂月产能预计从2024年217万片增至2026年414万片，光刻机缺口达200台/年</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mb-8">
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">市场热度与情绪</h3>
|
||
<div class="flex flex-wrap gap-4">
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1 min-w-[250px]">
|
||
<div class="flex items-center mb-2">
|
||
<i class="fas fa-file-alt text-blue-400 mr-2"></i>
|
||
<h4 class="font-medium">研报密度</h4>
|
||
</div>
|
||
<p class="text-sm text-slate-300">2024年Q4至今发布光刻机深度报告超15篇（中泰、国金、华福等），为半导体设备子行业最高</p>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1 min-w-[250px]">
|
||
<div class="flex items-center mb-2">
|
||
<i class="fas fa-users text-blue-400 mr-2"></i>
|
||
<h4 class="font-medium">情绪分化</h4>
|
||
</div>
|
||
<p class="text-sm text-slate-300">机构乐观（"从0到1星辰大海"），产业专家谨慎（路演显示28nm样机需3-5年迭代才能量产）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">预期差分析</h3>
|
||
<div class="bg-slate-800/30 rounded-lg p-5">
|
||
<div class="flex flex-col md:flex-row gap-6">
|
||
<div class="flex-1">
|
||
<h4 class="font-medium mb-2 text-amber-300">市场共识</h4>
|
||
<p class="text-sm text-slate-300">认为国产光刻机=上海微电子整机突破</p>
|
||
</div>
|
||
|
||
<div class="flex items-center justify-center text-slate-500">
|
||
<i class="fas fa-exchange-alt"></i>
|
||
</div>
|
||
|
||
<div class="flex-1">
|
||
<h4 class="font-medium mb-2 text-emerald-300">忽略点</h4>
|
||
<p class="text-sm text-slate-300">供应链价值量重构——茂莱光学i线物镜单机价值量从300万→500万，浸没式DUV物镜价值量或达5000万/台（10倍于i线）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 关键催化剂 -->
|
||
<div class="card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">关键催化剂与未来发展路径</h2>
|
||
|
||
<div class="mb-8">
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">近期催化剂（3-6个月）</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="bg-gradient-to-br from-blue-900/30 to-indigo-900/30 rounded-lg p-4 border border-blue-700/30">
|
||
<div class="text-blue-300 mb-2">
|
||
<i class="fas fa-calendar-alt mr-2"></i>
|
||
<span class="font-medium">2025年Q3</span>
|
||
</div>
|
||
<p class="text-sm text-slate-300">上海微电子28nm DUV客户验证结果，良率≥70%将触发批量订单</p>
|
||
</div>
|
||
|
||
<div class="bg-gradient-to-br from-blue-900/30 to-indigo-900/30 rounded-lg p-4 border border-blue-700/30">
|
||
<div class="text-blue-300 mb-2">
|
||
<i class="fas fa-calendar-alt mr-2"></i>
|
||
<span class="font-medium">2025年Q4</span>
|
||
</div>
|
||
<p class="text-sm text-slate-300">大基金三期光刻机专项投资落地（预计规模100亿元，重点投向物镜、光源、双工台）</p>
|
||
</div>
|
||
|
||
<div class="bg-gradient-to-br from-blue-900/30 to-indigo-900/30 rounded-lg p-4 border border-blue-700/30">
|
||
<div class="text-blue-300 mb-2">
|
||
<i class="fas fa-calendar-alt mr-2"></i>
|
||
<span class="font-medium">2025年10月</span>
|
||
</div>
|
||
<p class="text-sm text-slate-300">美国对华半导体管制清单更新，可能新增DUV机型限制</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">长期路径</h3>
|
||
<div class="space-y-4">
|
||
<div class="flex items-start">
|
||
<div class="bg-blue-500 rounded-full w-8 h-8 flex items-center justify-center text-white font-bold mr-4 flex-shrink-0">1</div>
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1">
|
||
<h4 class="font-medium mb-2">2025-2027年</h4>
|
||
<p class="text-sm text-slate-300">28nm DUV量产（覆盖逻辑/存储成熟制程），国产份额从0%→30%</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="bg-blue-500 rounded-full w-8 h-8 flex items-center justify-center text-white font-bold mr-4 flex-shrink-0">2</div>
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1">
|
||
<h4 class="font-medium mb-2">2028-2030年</h4>
|
||
<p class="text-sm text-slate-300">14nm DUV突破（需多重曝光技术），供应链公司收入规模达百亿级</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="bg-blue-500 rounded-full w-8 h-8 flex items-center justify-center text-white font-bold mr-4 flex-shrink-0">3</div>
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1">
|
||
<h4 class="font-medium mb-2">2030年后</h4>
|
||
<p class="text-sm text-slate-300">EUV国产化（需攻克13.5nm光源+0.55NA反射镜），打开千亿市场空间</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 产业链与核心公司 -->
|
||
<div class="card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">产业链与核心公司深度剖析</h2>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">产业链图谱</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="bg-slate-800/30 rounded-lg p-4 border border-slate-700/50">
|
||
<h4 class="font-medium mb-3 text-center text-blue-300">上游</h4>
|
||
<div class="flex flex-wrap gap-2 justify-center">
|
||
<span class="tag tag-primary">光源（科益虹源）</span>
|
||
<span class="tag tag-primary">物镜（茂莱光学）</span>
|
||
<span class="tag tag-primary">双工台（华卓精科）</span>
|
||
<span class="tag tag-primary">洁净设备（美埃科技）</span>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-4 border border-slate-700/50">
|
||
<h4 class="font-medium mb-3 text-center text-blue-300">中游</h4>
|
||
<div class="flex justify-center">
|
||
<span class="tag tag-secondary">整机（上海微电子，未上市）</span>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-4 border border-slate-700/50">
|
||
<h4 class="font-medium mb-3 text-center text-blue-300">下游</h4>
|
||
<div class="flex flex-wrap gap-2 justify-center">
|
||
<span class="tag tag-success">中芯国际</span>
|
||
<span class="tag tag-success">华虹半导体</span>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">核心玩家对比</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="w-full border-collapse">
|
||
<thead>
|
||
<tr>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">公司</th>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">环节</th>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">进展</th>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">风险</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">茂莱光学</td>
|
||
<td class="p-3 border-b border-slate-700/30">物镜</td>
|
||
<td class="p-3 border-b border-slate-700/30">唯一量产i线物镜（300万/台），DUV非球面镜片送样通过（5000万/台）</td>
|
||
<td class="p-3 border-b border-slate-700/30">蔡司技术代差（PV精度差10倍）</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">福晶科技</td>
|
||
<td class="p-3 border-b border-slate-700/30">光源晶体</td>
|
||
<td class="p-3 border-b border-slate-700/30">KBBF晶体全球唯一供应商，EUV光源关键材料</td>
|
||
<td class="p-3 border-b border-slate-700/30">下游验证周期长（2-3年）</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">华卓精科</td>
|
||
<td class="p-3 border-b border-slate-700/30">双工台</td>
|
||
<td class="p-3 border-b border-slate-700/30">10nm精度双工台已供货上海微电子，浸没式DWSi在研</td>
|
||
<td class="p-3 border-b border-slate-700/30">专利壁垒（ASML 2000+专利）</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">张江高科</td>
|
||
<td class="p-3 border-b border-slate-700/30">整机投资</td>
|
||
<td class="p-3 border-b border-slate-700/30">间接持股上海微电子10.8%，参与光刻机产业园建设</td>
|
||
<td class="p-3 border-b border-slate-700/30">整机量产进度低于预期</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">验证与证伪</h3>
|
||
<div class="bg-slate-800/30 rounded-lg p-5">
|
||
<div class="mb-4">
|
||
<h4 class="font-medium mb-2 text-amber-300">矛盾点</h4>
|
||
<p class="text-sm text-slate-300">研报称"28nm光刻机=原子弹突破"，但路演专家透露当前良率仅50%（台积电1980i为70%），量产需3-5年</p>
|
||
</div>
|
||
|
||
<div>
|
||
<h4 class="font-medium mb-2 text-emerald-300">数据印证</h4>
|
||
<p class="text-sm text-slate-300">2024年中国光刻机进口额88亿美元（同比+121%），国产化率仍<5%，验证"低端放量、高端卡脖子"现状</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 关联股票数据表格 -->
|
||
<div class="card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">关联股票数据</h2>
|
||
|
||
<div class="table-container">
|
||
<table class="w-full border-collapse">
|
||
<thead>
|
||
<tr>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">股票名称</th>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">分类</th>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">产业链</th>
|
||
<th class="bg-slate-800/80 text-left p-3 border-b border-slate-700/50">关联原因</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">张江高科</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-primary">整机</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光刻机整机制造</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机整机制造环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">奥普光电</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-primary">整机</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光刻机整机制造</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机整机制造环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">东方嘉盛</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-secondary">维修服务</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">-</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机维修服务环节，且涨幅超10%</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">福晶科技</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光源</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光源环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">波长光电</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光源</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光源环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">茂莱光学</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光源/光学元件/光学系统</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光源环节、光学元件环节、光学系统环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">赛微电子</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">物镜系统</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机物镜系统环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">苏大维格</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光学元件</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光学元件环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">晶方科技</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光学元件</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光学元件环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">腾景科技</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光学元件</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光学元件环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">炬光科技</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光学元件/匀光器</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光学元件环节、匀光器环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">京华激光</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光学元件</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机光学元件环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">蓝英装备</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">洁净设备</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机洁净设备环节，且涨幅超10%</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">美埃科技</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">洁净设备/过滤器</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机洁净设备环节、过滤器环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">联合精密</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">结构件</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机结构件环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">新莱应材</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">结构件</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机结构件环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">富创精密</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">结构件</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机结构件环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">清溢光电</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">掩膜版</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机掩膜版环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">路维光电</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">掩膜版</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机掩膜版环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">海立股份</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">温控系统</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机温控系统环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">同飞股份</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">温控系统</td>
|
||
<td class="p-3 border-b border-slate-700/30">属于光刻机温控系统环节</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">上海微电子</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-primary">整机</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光源/光学器件/洁净装备/结构件/温控/服务/仓库</td>
|
||
<td class="p-3 border-b border-slate-700/30">间接持股10.779%；子公司提供光刻机控制器；曾为光刻机设备零部件表面处理供应商；精密金属结构件；光刻机用冷却系统；建设光刻机寄售维修保税仓库</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">上海电气</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-primary">整机</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光刻机整机制造</td>
|
||
<td class="p-3 border-b border-slate-700/30">控股股东持股41.09%；上海电气控股集团为第一大股东</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">电科数字</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">控制器</td>
|
||
<td class="p-3 border-b border-slate-700/30">子公司可供货光刻机控制器</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">金力泰</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">洁净装备</td>
|
||
<td class="p-3 border-b border-slate-700/30">子公司为上海微电子光刻机设备零部件表面处理供应商</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">安达智能</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">洁净装备</td>
|
||
<td class="p-3 border-b border-slate-700/30">研发产品有等离子去胶机、分选机等</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">东方明珠</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-primary">整机</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">光刻机整机制造</td>
|
||
<td class="p-3 border-b border-slate-700/30">间接持股上海微电子1.73%</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">华亚智能</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">结构件</td>
|
||
<td class="p-3 border-b border-slate-700/30">光刻机设备精密金属结构件</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">百傲化学</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">结构件</td>
|
||
<td class="p-3 border-b border-slate-700/30">参投企业研发D2W/W2W混合键合设备，弥补光刻机不足</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">凯美特气</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-danger">材料供应商</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">工艺气体</td>
|
||
<td class="p-3 border-b border-slate-700/30">光刻机专用气体供应商</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="p-3 border-b border-slate-700/30">冠石科技</td>
|
||
<td class="p-3 border-b border-slate-700/30"><span class="tag tag-warning">零部件</span></td>
|
||
<td class="p-3 border-b border-slate-700/30">掩膜版</td>
|
||
<td class="p-3 border-b border-slate-700/30">光刻机掩膜版供应商</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 潜在风险与挑战 -->
|
||
<div class="card rounded-xl p-6 mb-8">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">潜在风险与挑战</h2>
|
||
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
|
||
<div class="bg-slate-800/30 rounded-lg p-5 border border-slate-700/50">
|
||
<div class="flex items-center mb-3">
|
||
<i class="fas fa-exclamation-triangle text-amber-400 mr-2"></i>
|
||
<h3 class="font-semibold text-lg">技术风险</h3>
|
||
</div>
|
||
<p class="text-sm text-slate-300 mb-4">EUV光源（需250W功率+0.01nm线宽稳定性）和0.55NA反射镜（面型精度<0.12nm）仍被蔡司垄断</p>
|
||
<div class="risk-meter">
|
||
<div class="risk-meter-fill" style="width: 85%"></div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-5 border border-slate-700/50">
|
||
<div class="flex items-center mb-3">
|
||
<i class="fas fa-dollar-sign text-amber-400 mr-2"></i>
|
||
<h3 class="font-semibold text-lg">商业化风险</h3>
|
||
</div>
|
||
<p class="text-sm text-slate-300 mb-4">28nm DUV成本为ASML 1980i的1.5倍（路演数据），晶圆厂接受度待验证</p>
|
||
<div class="risk-meter">
|
||
<div class="risk-meter-fill" style="width: 65%"></div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-5 border border-slate-700/50">
|
||
<div class="flex items-center mb-3">
|
||
<i class="fas fa-gavel text-amber-400 mr-2"></i>
|
||
<h3 class="font-semibold text-lg">政策风险</h3>
|
||
</div>
|
||
<p class="text-sm text-slate-300 mb-4">美国2025年可能将DUV 1980i纳入管制（德邦电子提示），导致低端替代窗口缩短</p>
|
||
<div class="risk-meter">
|
||
<div class="risk-meter-fill" style="width: 75%"></div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-5 border border-slate-700/50">
|
||
<div class="flex items-center mb-3">
|
||
<i class="fas fa-info-circle text-amber-400 mr-2"></i>
|
||
<h3 class="font-semibold text-lg">信息矛盾</h3>
|
||
</div>
|
||
<p class="text-sm text-slate-300 mb-4">中泰电子预测"2025年28nm量产"，但民生路演显示"需客户迭代3-5年"，时间预期差显著</p>
|
||
<div class="risk-meter">
|
||
<div class="risk-meter-fill" style="width: 60%"></div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 综合结论与投资启示 -->
|
||
<div class="card rounded-xl p-6">
|
||
<h2 class="text-2xl font-bold mb-6 section-title">综合结论与投资启示</h2>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">阶段判断</h3>
|
||
<div class="bg-gradient-to-r from-blue-900/30 to-indigo-900/30 rounded-lg p-5 border border-blue-700/30">
|
||
<p class="text-slate-300">当前处于<strong class="text-blue-300">主题炒作向基本面过渡</strong>阶段，<strong class="text-blue-300">低端供应链（i线/KrF）已进入订单兑现期</strong>，高端（EUV）仍为远期故事。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">投资方向</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
|
||
<div class="bg-slate-800/30 rounded-lg p-5 border border-slate-700/50">
|
||
<h4 class="font-semibold mb-3 text-emerald-300">短期（6-12个月）</h4>
|
||
<ul class="space-y-2">
|
||
<li class="flex items-start">
|
||
<i class="fas fa-check-circle text-emerald-400 mt-1 mr-2"></i>
|
||
<span class="text-sm"><strong class="text-emerald-300">茂莱光学</strong>（物镜价值量10倍提升）</span>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<i class="fas fa-check-circle text-emerald-400 mt-1 mr-2"></i>
|
||
<span class="text-sm"><strong class="text-emerald-300">福晶科技</strong>（光源晶体稀缺性）</span>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
|
||
<div class="bg-slate-800/30 rounded-lg p-5 border border-slate-700/50">
|
||
<h4 class="font-semibold mb-3 text-amber-300">长期（3-5年）</h4>
|
||
<ul class="space-y-2">
|
||
<li class="flex items-start">
|
||
<i class="fas fa-check-circle text-amber-400 mt-1 mr-2"></i>
|
||
<span class="text-sm"><strong class="text-amber-300">华卓精科</strong>（双工台技术壁垒最高，科创板上市预期）</span>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold mb-4 text-blue-300">跟踪指标</h3>
|
||
<div class="space-y-4">
|
||
<div class="flex items-start">
|
||
<div class="bg-blue-500 rounded-full w-8 h-8 flex items-center justify-center text-white font-bold mr-4 flex-shrink-0">1</div>
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1">
|
||
<h4 class="font-medium mb-2">上海微电子28nm DUV客户验证良率</h4>
|
||
<p class="text-sm text-slate-300">≥70%为量产信号</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="bg-blue-500 rounded-full w-8 h-8 flex items-center justify-center text-white font-bold mr-4 flex-shrink-0">2</div>
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1">
|
||
<h4 class="font-medium mb-2">大基金三期光刻机专项投资金额</h4>
|
||
<p class="text-sm text-slate-300">≥50亿元为政策加码信号</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="bg-blue-500 rounded-full w-8 h-8 flex items-center justify-center text-white font-bold mr-4 flex-shrink-0">3</div>
|
||
<div class="bg-slate-800/30 rounded-lg p-4 flex-1">
|
||
<h4 class="font-medium mb-2">2025年美国DUV管制清单更新</h4>
|
||
<p class="text-sm text-slate-300">若新增1980i，将加速国产替代</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 页脚 -->
|
||
<div class="text-center mt-12 pb-8 text-slate-400 text-sm">
|
||
<p>© 2025 光刻机行业深度分析报告 | 数据来源：公开资料整理</p>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 粒子背景 -->
|
||
<script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
|
||
<script>
|
||
tsParticles.load("particles-js", {
|
||
fpsLimit: 60,
|
||
particles: {
|
||
color: {
|
||
value: "#6366f1"
|
||
},
|
||
links: {
|
||
color: "#6366f1",
|
||
distance: 150,
|
||
enable: true,
|
||
opacity: 0.3,
|
||
width: 1
|
||
},
|
||
move: {
|
||
direction: "none",
|
||
enable: true,
|
||
outModes: {
|
||
default: "bounce"
|
||
},
|
||
random: true,
|
||
speed: 1,
|
||
straight: false
|
||
},
|
||
number: {
|
||
density: {
|
||
enable: true,
|
||
area: 800
|
||
},
|
||
value: 80
|
||
},
|
||
opacity: {
|
||
value: 0.3
|
||
},
|
||
shape: {
|
||
type: "circle"
|
||
},
|
||
size: {
|
||
value: { min: 1, max: 3 }
|
||
}
|
||
},
|
||
detectRetina: true
|
||
});
|
||
</script>
|
||
</body>
|
||
</html>
|
||
``` |