PNC Process Systems Co Ltd

Lithography concept stocks opened sharply higher on July 28, with Zhangjiang High-Tech, Opto-Electronics, and Purity Technology among many stocks hitting limit up at the opening bell, while BlueInk Equipment and Wavelength Optoelectronics surged by the 20 percent daily limit. On the news front, according to a report by US tech media outlet The Information on July 27, a Chinese state-backed company has officially begun mass production of an immersion deep ultraviolet lithography machine, marking a key step in reducing China's reliance on overseas chipmaking equipment. Sources revealed that the domestic lithography equipment is expected to be delivered to major Chinese chip manufacturers within this year, and the machine is one of the core tools widely used by leading global chipmakers such as TSMC.

On July 24, the semiconductor equipment concept sector in the A-share market bucked the trend and was active. PNC Process Systems hit its daily limit up in a straight line, Torrens surged over 12 percent, and stocks such as Qiangyi, Changchuan Technology, NAURA Technology Group, and Kingsemi moved higher in tandem. A report from SEMI forecasts that global semiconductor equipment sales will increase 23.2 percent year-on-year to 165.9 billion US dollars in 2026, and the market size will reach a record high of 229.5 billion US dollars in 2028, driven by expansion of AI infrastructure and investments in advanced logic chips and high-bandwidth memory. China Galaxy Securities believes that the global semiconductor sector's pullback since July has been mainly due to factors such as capital deleveraging and profit-taking, and risks have now been largely released. It recommends focusing on areas like advanced packaging, wafer foundry, semiconductor equipment, and materials. Industrial Securities points out that the domestic memory industry chain still has enormous room for development and capital expenditure, upstream equipment and material companies are facing development opportunities, and the industry's gross margin is likely to trend upward during the capital expenditure upcycle. Sinolink Securities states that overseas semiconductor equipment delivery times have extended to 12 to 24 months and prices have started to rise. Expansion by leaders such as Samsung, SK Hynix, and Micron is constrained by equipment supply bottlenecks. Domestic semiconductor equipment companies, leveraging technological progress, efficient delivery, and cost advantages, are seeing accelerated opportunities for overseas verification and order landing, and are expected to go global and open up incremental space.

On the afternoon of July 24, A-share computing power chip concept stocks rebounded in volatile trading. Meishi Technology hit its daily limit up in a straight line, while PNC Process Systems and Tongfu Microelectronics also sealed their boards. ASR Microelectronics rose over 10%. In terms of news, during the 2026 World Artificial Intelligence Conference, the first domestic TPU thousand-card intelligent computing cluster in East China was officially inaugurated in Hangzhou. Jointly built by Hangzhou Telecom, ZTE, and Zhonghao Xinying, this cluster is the first large-scale domestic TPU cluster deployment project within the China Telecom system, marking the entry of domestic TPUs into the carrier-grade scale deployment stage. A research note from Guolian Minsheng Securities pointed out that the shipment share of domestic AI chips has exceeded 40%, with product matrices from manufacturers such as Huawei Ascend and Cambricon continuing to improve, while cloud vendors are simultaneously accelerating their self-developed ASIC layouts. A research report from China Merchants Securities showed that first-quarter 2026 revenues for Hygon Information Technology, Cambricon, Moore Threads, Muxi, and VeriSilicon grew by 68%, 160%, 155%, 75%, and 114% year-on-year, respectively. Moore Threads disclosed a major commercial contract worth 660 million yuan, and as of the end of April, VeriSilicon's new order scale reached 8.2 billion yuan. Sinolink Securities believes that industry fundamentals are sound, and in the third quarter, Nvidia Rubin, AMD MI450, and others will ship in large volumes, with leading companies in the global AI industry chain likely to continue exceeding performance expectations.

Lixinnengyuan issued a stock trading abnormal fluctuation announcement on July 22, stating that the company currently has no business layout related to the computing power industry, has not launched dedicated power supply services for computing centers, and has not entered into any cooperation with relevant enterprises in the computing power field. Previously, the stock had posted seven consecutive limit-up moves, with the power sector buoyed by record-high electricity loads in multiple regions and renewable energy planning policies. The military equipment sector also strengthened, with Great Wall Military Industry hitting a straight-line limit-up to achieve two consecutive limit-up moves. The semiconductor sector fluctuated higher, driven by expectations of global semiconductor equipment sales growth, with PNC Process Systems hitting the limit-up.

On the morning of July 24, China's three major A-share indices fell collectively. The Shanghai Composite Index dropped 1.2%, the Shenzhen Component Index fell 1.77%, and the ChiNext Index declined 1.78%. More than 4,900 stocks across the market closed lower. Military stocks bucked the trend, with Great Wall Military Industry hitting its second consecutive daily limit up. Stocks related to the concept of ordnance equipment restructuring surged collectively. Huaqiang Technology rose over 14%, while Jianshe Industry, Hunan Tyen, and Dongan Auto Engine hit their daily limit up. The semiconductor equipment sector also rose against the market, with PNC Process Systems soaring to its daily limit up and Torrens rising over 13%. On the news front, US-Iran tensions escalated. Trump said that if Iran opens fire in the Strait of Hormuz, the US will bomb Iranian targets, and Iran warned it would block oil exports. Hong Kong stocks fell across the board, with the Hang Seng Index down 1.25%. Alibaba dropped over 5%, Tencent fell 2.74%, while Zhipu bucked the trend and rose over 8%.