At the two sessions of the fifth session of the 13th National People’s Congress held on March 5, Li Keqiang proposed in the government work report that this year, we should deeply implement the innovation driven development strategy and consolidate and expand the foundation of the real economy. Promote scientific and technological innovation, promote industrial optimization and upgrading, break through the blocking point of supply constraints, and rely on innovation to improve the quality of development. The contents needing attention include: strengthening the implementation of the policy of adding and deducting R & D expenses, and increasing the proportion of adding and deducting scientific and technological small and medium-sized enterprises from 75% to 100%; Strengthen the supply guarantee of raw materials and key parts, implement the project of ensuring and stabilizing the chain of leading enterprises, and maintain the safety and stability of the supply chain of the industrial chain; Accelerate the development of industrial Internet, cultivate and expand digital industries such as integrated circuits and artificial intelligence, and improve the innovation and supply capacity of key software and hardware technologies. It is suggested to pay attention to the scientific and technological enterprises that have obtained the qualification certification of “specialization and innovation”.
Since the conflict between Russia and Ukraine, the high-purity gas and semiconductor raw materials produced by the two countries have increased significantly. The prices of high-purity neon, xenon, krypton, helium and palladium have increased by 475%, 50%, 56%, 53% and 43% respectively since the end of 2021. The prices have accelerated since February 14. According to techcet, nearly 50% of the high-purity neon gas in the United States is imported from Ukraine, and Russia supplies 33% of the world’s palladium. The conflict between the two countries has caused a sharp rise in semiconductor materials, and the helium gas supplied by Gazprom has been delayed for more than six months.
According to technews, TSMC has established an “enterprise risk system” to solve the risks related to gas and chemical supply and ensure that it has diversified neon suppliers and regions and a certain safety inventory. We believe that the short-term conflict will not cause excessive supply chain shortage to the semiconductor industry, but if the conflict lasts for more than half a year, it will cause great disturbance to the semiconductor production and market. It is suggested to pay attention to Hunan Kaimeite Gases Co.Ltd(002549) , Guangdong Huate Gas Co.Ltd(688268) and other Chinese special gas standards.
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Risk warning: risk of deterioration of the international situation, unexpected epidemic development and liquidity risk
