Recently, the national integrated circuit industry investment fund phase II (hereinafter referred to as “big fund phase II”) and the Shanghai semiconductor equipment and materials industry investment fund (hereinafter referred to as “equipment and materials fund”) increased their capital by 350 million yuan and 40 million yuan respectively to Shanghai Wanye Enterprises Co.Ltd(600641) participating subsidiary Zhejiang praseodymium Core Electronic Technology Co., Ltd. (hereinafter referred to as “praseodymium core electronics”), totaling 390 million yuan.
Upon the completion of the capital increase, Shanghai Wanye Enterprises Co.Ltd(600641) holds 29.630% of the equity of praseodymium core electronics from 37.85%, and remains its largest shareholder. The second phase of large fund and equipment materials fund hold 17.284% and 1.975% of the equity respectively, ranking second and third.
It is noteworthy that the national large fund investment previously covered the industrial chain links such as chip design, manufacturing, sealing and testing, materials and equipment this investment is the first time that a large fund has laid out a semiconductor parts company, which is considered to be of wind vane significance. At the same time, the investor Shanghai equipment and materials fund is also the first industrial investment fund focusing on the field of semiconductor equipment and materials in China
Xu Tingjing, deputy director of investment of dynamic balance capital advanced manufacturing division, said in an interview with the reporter of science and Innovation Board Daily: “At present, Chinese enterprises have layout in seven kinds of semiconductor equipment, but they penetrate upstream to the level of parts and components, and many key parts are still subject to overseas. These sub industries generally have a small market scale, but the technical threshold is high, which requires years of technical accumulation. China still has a lot of lessons to make up in this regard. The ‘specialized and special new’ enterprises advocated by China in recent years are mainly in this field.”
Statistics show that praseodymium core electronics directly holds 73.11% equity of praseodymium core holding, and praseodymium core holding directly holds 100% equity of compart company. Compart’s main products include BTP components, assemblies, seals, gas rod assemblies, gas flow controllers (MFC), weldments, etc. it can be applied to the precise gas delivery system required by oxidation / diffusion, etching and deposition equipment in integrated circuit manufacturing process. It is one of the suppliers in the field of gas delivery system required by integrated circuit equipment.
Xu Tingjing believes that the gas delivery system produced by praseodymium core electronics is a precision mechanical component of semiconductor equipment and a key system. The gas flow control system is generally matched with chemical vapor deposition CVD equipment, and the downstream includes Advanced Micro-Fabrication Equipment Inc.China(688012) , Naura Technology Group Co.Ltd(002371) , Jiangsu micro guide, etc
Everbright Securities Company Limited(601788) research report points out that at present, the technical capacity, process level, product accuracy and reliability of local semiconductor equipment parts enterprises are far behind those of foreign countries, and the overall localization rate is only 10% – 30%, especially in the field of flow control related to compart. In addition to semiconductor equipment, the core parts of semiconductor equipment are also one of the key areas of localization in the future.
In terms of investors, both investors are related parties of 60064 7 among them, the second phase of large fund is related to the first phase of large fund, a major shareholder holding more than Shanghai Wanye Enterprises Co.Ltd(600641) 5% shares; Equipment material fund GP is jointly established by Shanghai Wanye Enterprises Co.Ltd(600641) controlling shareholder puke investment and relevant institutions. Puke investment is the largest shareholder of equipment material fund GP.
The reporter of the science and Innovation Board daily inquired and learned that the equipment and materials fund has been sold frequently, and its LP includes well-known enterprises such as large fund phase I, Shanghai Wanye Enterprises Co.Ltd(600641) , Yunnan trust, Guosheng group, Guotai Junan Securities Co.Ltd(601211) innovation investment, China Securities Co.Ltd(601066) and so on. By the end of March 2022, the equipment and materials fund had invested in Yudu semiconductor, Hanxin technology, Zhilin semiconductor, Changjing technology and other enterprises. Among them, Aojie technology invested has been listed in early 2022, and the IPO of Guowei silxin technology innovation board is in line.
