【研报】机械设备行业：产业生态逐步形成国产替代加速战略看好半导体设备板块-2020200630[31页].pdf

1、 / 14nmFinFET 2019Q32019Q41%12nm 28nm 2019912 642019Q3 2020645/20215 /641282019 9 02 01 1N2017-2020 14%2% 25%PVD17%CVD 2%CMP14%22% 3%01 128 67% 17%10%6% EPS PE 2019A 2020E 2021E 2019A 2020E 2021E 166.24 0.63 1.01 1.48 263.87 164.59 112.32 218.50 0.35 0.52 0.72 624.29 417.38 303.47 24.58 0.50 0.74 0.

2、99 49.16 33.22 24.83 287.39 1.67 2.26 3.01 172.09 127.16 95.48 22.30 0.43 0.63 0.86 51.86 35.40 25.93 -10% -6% -2% 2% 6% 2019/7 2019/8 2019/9 2019/10 2019/11 2019/12 2020/1 2020/2 2020/3 2020/4 2020/5 2020/6 % 1M 3M 12M 6.38% 10.21% 5.52% -1.85% -3.97% -2.23% 378 26553 18199 32.70 1.87 13154 557 % 5

3、4.21 1N 2020-06-22 2020-05-18 2020-04-13 S0550516090002 (021)20361113 S0550519080002 (021)20363254 zhu_ 2020-06-30 2 / 31 1. . 3 2. . 4 2.1. . 4 2.2. + . 5 2.3. . 5 3. . 7 3.1. . 7 3.2. 14nm202058% . 9 3.3. 28nm . 12 3.4. 643/128 . 13 4. 1N . 14 4.1. . 14 4.2. . 15 4.3. . 22 4.4. . 24 4.5. . 24 4.6.

4、 . 25 4.7. ATESOC . 26 4.8. STI. 27 4.9. . 28 3 / 31 1. 2016/2017 3-4 246,800 1 14nmFinFET 2019 2019Q41%12nm 202031.6058% 228nm14nm 20202019912 55nm 3642019Q32020 645/20215/64128 420199DRAM 10nm8Gb DDR412 02 14nm 011N 2017-202014%2% 25%PVD17%CVD 2%CMP14% 22%3% 01128 1N 13875000 67%17%10%6% 4 / 31 2.

5、 2.1. 2050 AMD 2070 80 1987 2090 DRAM DRAM 90 PC 21 PC 5 / 31 1 1950s1960s1970s1980s1990s20 PC)/5G/AI/IoT MPU)DRAM ASIC& DRAMSOC) 2.2. 20142020 20%2030 16/14nm 2025 1220157020251002030 150202514nm 20149 1,3875000 2.3. 2016/20173-4 24 6,800 6 / 31 1 7 / 31 3. 3.1. 10nm-7nm-5nm 5GAIIoT IC 28nm-14nm-10

6、nm7nm-5nm-3nm 7nm-5nm-3nm 20187nm20205nm 7nm2019 7nm355nm2019 20203nm 202063nm10 5nm20194 5nm2020 5nm 20205nm3nm GAAFET3nm2021 GAAFinFET FinFET5nm3nm35% 50%30%20213nm 20223nm 14nm/12nm FinFET22nmFD-SOI2019 12nm FD-SOI16nm FinFET12nm50% 10nm FinFET7nm5nm 3nm 14nm/12nm FinFET12nmFD-SOI 12nm FD-SOI Int