Anji Microelectronics Technology — AI supply-chain exposure

Anji Microelectronics makes the consumables used in chemical-mechanical planarization, the CMP slurries and increasingly the polishing pads that grind and polish a wafer flat between the many layers built onto it. Planarization is repeated many times across a modern process flow, so these materials are used up continuously rather than once. Anji is China's leading domestic supplier of them, selling to SMIC, Hua Hong and YMTC.

Its structural hook is localization. CMP consumables have long been dominated by a small set of Western and Japanese suppliers, and Chinese fabs under export pressure need a credible domestic alternative, which Anji provides. That positions it as a consumable supplier whose demand grows both with China's fab output and with the drive to source materials at home. The model reads it as a process-chemicals supplier to foundry capacity, a materials-localization play rather than a leading-edge name.