On June 25th, Guolong Securities' research report pointed out that TSV, as one of the core processes of HBM, has driven the growth of Semiracks Shanghai's cleaning and copper plating equipment. Currently, the company's full line of wet cleaning equipment and copper plating equipment can be used in the DRAM (high-bandwidth memory HBM) process. The SAPS megasonic single-hole cleaning equipment is used for deep hole cleaning of TSV, reducing its leakage current by 2-3 orders of magnitude. The copper plating equipment is used by many large customers for TSV copper plating. In the future, the HBM market will become a huge growth point for the company. The company's PECVD equipment and furnace pipe ALD equipment will also be applied to HBM production lines. Currently, the company has received repeated orders for TSV electroplating equipment from multiple customers, and TSV electroplating equipment orders will start to rise in the second half of 2023, and is expected to maintain relatively high market demand in 2024. Maintain a "buy" rating.
研报掘金丨中邮证券：维持盛美上海“买入”评级，HBM市场将成为公司的巨大增长点
Research reports suggest that China Post Securities maintains its “buy” rating for Shengmei Shanghai, and the HBM market will be a huge growth point for the company.
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