Backed by massive subsidies, China's equipment makers have made gains in mature nodes and initial inroads into advanced processes, but ecosystem gaps and geopolitics cap long-term growth.

Key Highlights

• Mature Node Progress: Chinese equipment firms steadily erode incumbents' share in cleaning, etching, and deposition; SMEE achieves commercial displacement in I-line lithography.
• Advanced Node Entry: Leading players show early 7nm-capable tools, with growing global revenue share in select process steps.
• Ecosystem Gap: Absence of a deep feedback loop with fabs remains the critical barrier to advanced node yield qualification.
• Geopolitical Ceiling: CHIPS Act restrictions and major fab procurement bans are compressing both TAM and SAM for Chinese suppliers.

Total Pages: 

1. Steady Growth and Commercial Substitution in Mature Processes
   • Domestic Market Shares of Chinese Equipment Companies in Mature Nodes
2. Initial Breakthroughs in Advanced Process Equipment and Global Revenue Share
   • Evolution of Key Process Technologies for Chinese Equipment Companies
3. Commercial Concessions Amid Patent Disputes
4. Spillover Benefits from the AI Expansion Boom and Domestic Policies
5. Core Bottleneck Crossing Over to Advanced Nodes: Lack of Feedback Ecosystems
6. Concerns and Opportunities in Breakthroughs for Feedback Loop
7. Long-Term Concerns: Restrictions by CHIPS Act and Principle of Consistency among Global Foundries
8. Purchase Restrictions on Major Global Players to Shrink Long-Term Market Scale
9. Conclusion

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