Guotai Junan Securities: Capital expenditure drives expansion in semiconductor logistics demand; specialization and domestic substitution create growth opportunities.

Guotai Junan Securities released a research report stating that semiconductor products, from design and wafer manufacturing to packaging testing and end applications, require multiple cross-border and cross-factory transfers globally. This results in three main logistical stages: raw material transportation, equipment and finished product transportation, and intelligent in-plant logistics. The upward capital expenditure in the semiconductor industry chain will sequentially transmit to the turnover of raw materials, cross-border transportation of equipment and finished products, and the demand for automated handling in wafer fabs, thereby driving the improvement of specialized logistics prosperity.