The key core technology is the weight of the country, which is the guarantee of achieving high -level technology self -reliance. This year, the leaders have emphasized: "The key core technologies are not coming, not buying or not. Only by mastering key core technologies in their own hands can we fundamentally ensure national economic security and national defense security.And other security.In particular, the semiconductor sector is a short -board field that my country urgently needs to be supplemented. With the support of technology independent and controllable policies, it has recently received key attention from funds.To this end, this article combed the semiconductor industry chain one by one.
Domestic alternative is imperative!Analysis of the entire semiconductor industry chain, "supplement shortcomings"!
The semiconductor industry is the cornerstone of modern electronic technology. Its industrial chain covers the materials and production equipment from the upstream, to the design and manufacturing of the midstream (including the design of the integrated circuit design (including the design of the integrated circuit., Three key links for production and packaging test), and then go to the widespread area of downstream.This industry chain not only has high technological density, but also has a huge market size, which has an important impact on the economy of one country and the world.
From the value of the industrial chain , the design accounts for 60%, of which logic IC accounts for 30%, storage IC accounts for 9%, DAO accounts for 17%;The equipment accounts for 12%; the materials account for 5%; the wafer manufacturing accounts for 19%, and the package and test account for 6%.From the perspective of global distribution, Europe and the United States are absolutely dominated by design and equipment; the United States is independent in the EDA & AMP; IP nuclear; South Korea is dominated by IC design; Japan has a significant advantage in DAO and equipment; China accounted for the highest proportion of sectors in seal testing.
From the perspective of the global market, Europe and the United States occupy a significant advantage in the field of design and equipment manufacturing.The United States is in a leading position in electronic design automation (EDA) tools and intellectual property (IP) nuclear; South Korea dominates the design market of the storage chip; Japan has strong in simulation and hybrid signal integration circuits (DAO) and related equipment manufacturing.Competitiveness; China has the largest market share in packaging testing foundry services.
Upstream Including semiconductor materials and production equipment.Among them, semiconductor materials include silicon wafers, lithography glue, electronic gas, etc. The quality and performance of these materials directly determine the success or failure of the subsequent manufacturing link.In terms of production equipment, equipment such as light carved machines, etching machines, and film deposition equipment is an indispensable core tool for wafer manufacturing.
The midstream link is the heart of the semiconductor industry chain , cover three key steps: integrated circuit design, wafer manufacturing and packaging test test. Integrated circuit design is the starting point of the entire process. The design team uses EDA software to design circuit design according to market demand and technical specifications, and continuously optimizes to improve performance and reduce costs.The wafer manufacturing is to accurately transfer the designed circuit diagram to the silicon wafer. Through a series of precise photocalism, etching, thin film deposition, etc., the basic architecture of the chip is constructed.The packaging test phase is to encapsulate the chip completed by manufacturing, and conduct comprehensive performance and reliability testing to ensure that the final product meets the established technical standards.
The development of my countrys semiconductor industry is relatively late. Although a certain industrial scale has been formed in the field of wafer manufacturing and packaging testing, As well as the upstream supply chain links such as EDA software and IP nuclear, they still face large technology and market challenges. It has long depends on imports from Europe, America, and Japan, and there is a certain risk of supply chain security. However, in recent years, my country has achieved significant technological breakthroughs in these upstream fields, especially in terms of equipment manufacturing. With the increase in domestic awareness of domestic wafers, the willingness to choose domestic equipment and materials is gradually increasing. It is expected that these upstream links will usher in a wider development opportunity in the tide of domestic replacement.
Domestic alternative superimposed cycle recovery, semiconductor performance recovers!
In 2024, the semiconductor industry gradually entered the period of uplinking, and the overall income of the industry was recovered.Many stocks have achieved good performance growth.From the perspective of distinguishing the Shenwan 3rd industry, The companys profit growth rate of digital chip design, analog chip design, and integrated circuit sealing and testing links is faster , while companies in the manufacturing link of separate devices, semiconductor materials, and integrated circuit manufacturing linksIn the first half of the year, profits declined a lot year.
According to the law of Moore, the number of transistors in the chip will be doubled every two years.The evolution of manufacturing technology to more advanced process nodes, and the investment demand for semiconductor equipment will also increase significantly. According to the forecast of the International Semiconductor Industry Association, the sales of global semiconductor equipment are expected to usher in an accelerated growth. The market size in 2024 and 2025 will increase by 3%and 15%year -on -year.Growth cycle.
Outlook in 2025. With the continuous increase in demand for high -performance chips with high -tech industries such as artificial intelligence, and the gradual recovery of the needs of industries such as automobiles, consumer electronics and industry, global wafers worldwide, global wafersThe equipment expenditure of the plant is expected to increase to $ 112.8 billion, a year -on -year increase of 15%.With the gradual improvement of industry profitability, the trend of profit restoration is expected to continue to conduct downward transmission to promote the healthy development of the entire semiconductor industry.
National Fund holding these semiconductor companies!The overall rebound has risen more than 60%!
In order to develop the semiconductor industry, my country has established the first, second, and third semiconductor industry funds to help my countrys semiconductor industry develop and grow.Choice data shows that the first phase of the National Fund appeared in a total of 27 listed companies top ten shareholders list, with a total stock value of 68.73 billion yuan.
From the perspective of the market value of the holding of the shareholding, the Shanghai-silicon industry of semiconductor materials, the northern Huachuang of semiconductor equipment, the long-standing long power of integrated circuit testingThe market value of science and technology has the highest market value, holding 10.7 billion, 10.5 billion, and 8.3 billion yuan, respectively.
From the perspective of the stock price performance, the average increase in the listed company held by the first phase of the Funds first phase has increased by 61%since the market rebounded on September 24 (as of November 7)The highest is Shengke Communication of Digital Chip Design. The company is the leading domestic Ethernet exchange chip design enterprise. The National Integrated Circuit Industry Investment Fund is the companys second largest shareholder and holds 19.6%of the companys shares.
As for the second phase of the Great Fund, as of the end of the third quarter, a total of the top ten shareholders of the majority of listed companies appeared, with a total shareholding value of 16.85 billion yuan.Among them, the company with the highest market value of the shareholding is Sino -Micro Corporation, which holds 4.01 billion yuan. From September 24th to November 7th, 77.3%of the increase has been recorded.
From the perspective of the stock price performance, the second phase of the large fund holding shares from September 24th to November 7th, an average increase of 69.9%.Link micro.
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