Chip expansion equipment takes the lead, storage shortages drive equipment investment fever.

The wave of AI is sweeping the world, the shortage of storage chips is becoming more and more severe, and a production expansion driven by demand is unfolding. With Samsung, SK Hynix, Micron and other overseas storage factories inclining their capital expenditure towards high-end storage products represented by HBM, the supply-demand gap in traditional storage is expected to continue at least until next year. Under this background, the urgency of expanding production for domestic storage manufacturers is rising, with equipment as the prelude to expansion becoming the focus of the market. On November 10th, the A-share semiconductor equipment sector showed a strong performance, with Topjoy Technology hitting a new historical high, with an annual increase of over 120%, and the individual stocks of the sector are collectively rising. Companies such as Huahai Qingke and Zmico achieved double-digit growth in revenue and net profit in the first three quarters, with the size of inventory and contractual liabilities continuously rising, indicating full orders and expected performance release. With breakthroughs in key processes such as etching and thin film deposition in domestic equipment, a wave of equipment localization driven by storage expansion is stirring up waves in the capital market.