Core view
Semiconductor: in 2021q4, the scale of the world’s top ten wafer foundry enterprises is nearly US $30 billion, the leading capacity of silicon wafers has been sold out, and the prosperity of the semiconductor industry is expected to remain high
The top ten wafer foundry enterprises in 2021q4 have a total scale of US $29.55 billion, and TSMC is firmly in the lead. According to trendforce data, in the fourth quarter of 2021, the scale of wafer foundry market was US $29.55 billion, and Cr5 was 88.7%, of which TSMC ranked first with 52.1%, followed by Samsung (18.3%), liandian (7.0%), lattice core (6.1%) and Semiconductor Manufacturing International Corporation(688981) (5.2%).
Crystallographic integration surpassed Eastern high tech and ranked among the top ten in the wafer foundry market in the fourth quarter of 2021. According to trendforce data, the revenue of crystal integration in the fourth quarter of 2021 was $350 million, a year-on-year increase of 44.2%. In 2021, crystallographic integration will actively expand its production and plan to develop to more advanced processes, such as 55 / 40 / 28nm and diversified product lines, including tddi, CIS, MCU, etc., to make up for the current limited single product line and customer base.
Silicon chip production capacity is in short supply, and the prosperity of semiconductor industry is expected to remain high. The supplier of semiconductor silicon wafer, spherulite, indicates that the company’s capacity has been sold out from 2022 to 2024, with strong demand for 8-inch and 12 inch wafers. The world’s second largest supplier of silicon wafers, Japan shenghi technology, shows that the company’s production capacity has been sold out by 2026. All 12 inch wafer production capacity will be ordered in the next five years. It will no longer accept long-term orders for 6-inch and 8-inch wafers, and the demand may continue to be higher than the supply in the next few years.
Han Lei adjusted the quotation for Infineon, with an increase of up to 50%. Benefiting from the strong demand for power semiconductors such as automotive MOSFETs and the full capacity of the 6-inch chip foundry, as an outsourcing foundry, Hanlei will comprehensively increase the quotation for the key customer Infineon by up to 50%. At the same time, it is expected to actively expand the capacity of the third-generation semiconductor silicon carbide (SiC), and the shipment volume will grow in multiples this year.
We believe that although the consumer electronics market is weak, its stock market space is still broad. At the same time, with the continuous expansion of the market scale of new energy vehicles, photovoltaic and rail transit, the downstream demand side of semiconductors shows an upward trend, and the prosperity of the semiconductor industry is not decreasing. The semiconductor silicon wafer market is occupied by Japanese manufacturers such as shinyue, Shenggao, global wafer and SK silon. The supply of silicon wafer market can not meet the incremental demand for silicon wafer by wafer factories. Chinese silicon wafer enterprises usher in historical development opportunities. According to semi data, at the end of 2021, a total of 19 high-capacity wafer factories in the world entered the construction period, another 10 wafer factories will start construction in 2022, and the silicon wafer consumption will also rise sharply. However, the market supply is limited and the expansion of new production capacity will take time, and the semiconductor industry is expected to remain high in 2022.
Risk provision
Downstream demand is lower than expected; The frequent occurrence of black swan events brings the risk of capacity obstruction.
Related subject matter
Semiconductor design: [ Will Semiconductor Co.Ltd.Shanghai(603501) ] [ Allwinnertech Technology Co.Ltd(300458) ] [ Gigadevice Semiconductor (Beijing) Inc(603986) ] [ Sg Micro Corp(300661) ] [ Maxscend Microelectronics Company Limited(300782) ]; Wafer Foundry: [ Semiconductor Manufacturing International Corporation(688981) ] [Huahong semiconductor]; Semiconductor materials: [ Red Avenue New Materials Group Co.Ltd(603650) ] [Jingrui shares]; Power semiconductor: [ Wingtech Technology Co.Ltd(600745) ] [ China Resources Microelectronics Limited(688396) ] [ Hangzhou Silan Microelectronics Co.Ltd(600460) ] [ Starpower Semiconductor Ltd(603290) ] [ Wuxi Nce Power Co.Ltd(605111) ] [ Shenzhen Minde Electronics Technology Ltd(300656) ]
Consumer electronics: [ Goertek Inc(002241) ] [ Sunwoda Electronic Co.Ltd(300207) ] [ Avary Holding (Shenzhen) Co.Limited(002938) ] [ Luxshare Precision Industry Co.Ltd(002475) ]; Smartphone: [Xiaomi group]
Folding screen: [ Jiangsu Gian Technology Co.Ltd(300709) ] [ Wuhu Token Sciences Co.Ltd(300088) ]
