The delivery time of semiconductors has been continuously extended, and the packaging delivery time has increased to more than 50 weeks: the British chip design company sondrel issued a warning on the chip packaging problem, and the packaging delivery time has been extended from about 8 weeks to 50 weeks or more. At the early stage of the epidemic, packaging factories were hit by the cancellation of orders and had to lay off workers or even close down. The surge of existing orders led to a shortage of production capacity and the continuous lengthening of packaging delivery time. In addition to packaging, chip manufacturing is also facing a continuous capacity shortage. According to the research of Haina financial group, the global semiconductor delivery date increased by 2 days to 26.6 weeks in March 2022. According to the financial times, ASML CEO said that the expansion plan of chip manufacturers will be limited by the shortage of key equipment in the next two years. The shortage of chips is expected to last until at least 2023, and most new factories of Intel and other companies will not be put into production until 2023 at the earliest.
The revenue of Taiwan wafer factory increased strongly in March, and the semiconductor boom continued to rise: in March 2022, the revenue of Taiwan’s three major wafer factories (TSMC, liandian and world advanced) totaled NT $1991175 billion, yoy + 33.38% and QoQ + 15.81%. Specifically, TSMC’s revenue is NT $172 billion (YoY + 33.2%, QoQ + 17.0%), the second highest monthly revenue in history; Both liandian and world advanced reached a record high in monthly revenue, with liandian’s revenue of NT $22.14 billion (YoY + 33.2%, QoQ + 6.4%), and world advanced’s revenue of NT $5.068 billion (YoY + 41.4%, QoQ + 19.4%). The revenue of the three wafer factories increased strongly in March, with a significant increase year-on-year and month on month. The revenue reached a new high in the first quarter, indicating that the prosperity of the semiconductor industry continued to rise.
The demand for SiC driven by new energy vehicles is rising, and Chinese manufacturers speed up R & D and production expansion: according to canaccordgenuity, the production capacity of 6-inch equivalent wafer silicon carbide for electric vehicles will increase from less than 150000 in 2022 to more than 4 million in 2030, so as to meet the demand of more than 30 million electric vehicles per year at that time. Several semiconductor manufacturers in China have accelerated the R & D and production of SiC products, and Wuxi Nce Power Co.Ltd(605111) has completed the first streaming verification of 1200V SiC MOSFET Shanghai Belling Corp.Ltd(600171) ‘s 1200V sicmosfet platform related products are under development and are expected to be launched in 2022q4; Puxing electronic silicon carbide and other projects will be completed in September this year, with a planned annual production capacity of 3 million 8-inch silicon epitaxial wafers and 3 Dongfeng Automobile Co.Ltd(600006) -inch silicon carbide epitaxial products; LIPUS semiconductor has completed tens of millions of a + round financing for R & D. the company has reached cooperation with photovoltaic head customers and is expected to achieve large sales this year.
The policy continues to increase and the layout of mini / micro LED industry chain is accelerated: according to experts, recently, LED display related enterprises such as Sanan Optoelectronics Co.Ltd(600703) , Hc Semitek Corporation(300323) , Tianma microelectronics and so on have received government subsidies, and the maximum amount of subsidy for a single company can reach 200 million. Under the continuous support of policies and the accelerated layout of terminal manufacturers, the demand for mini / micro LED has increased significantly. Ledinside, the photoelectric Research Office of trendforce Jibang consulting, predicts that the shipment of mini led TVs will challenge 4.5 million units in 2022, and the shipment of mini led backlit LCD monitors, mini LED backlit laptops and other products will also grow to varying degrees. According to ledinside, at present, the new display technology of mini / micro LED is developing rapidly, the upstream and downstream enterprises of the industrial chain are accelerating their actions, and TV manufacturers and mobile phone manufacturers are also involved in the field of mini / micro led. It can be predicted that the competition in the field of Mini / micro LED will be more intense in the future.
Kingsemi Co.Ltd(688037) won the bid for 1 set of 12 inch yellow light glue applicator: according to the data of electronic trading platform for bidding and tendering of mechanical and electrical products, this week (202204.04202204.08), Shanghai Jita added 7 sets of bidding equipment this week, Huahong Wuxi added 9 sets of bidding equipment this week, Fujian Jinhua added 6 sets of bidding equipment this week and 1 set of bidding equipment this week. In terms of domestic equipment, Kingsemi Co.Ltd(688037) won the bid for a 12 inch yellow light coating developer.
Investment suggestions: recommended parts of semiconductor equipment materials Hangzhou Lion Electronics Co.Ltd(605358) , Naura Technology Group Co.Ltd(002371) , Pnc Process Systems Co.Ltd(603690) , Shanghai Wanye Enterprises Co.Ltd(600641) , Kunshan Kinglai Hygienic Materials Co.Ltd(300260) , Suzhou Uigreen Micro&Nano Technologies Co.Ltd(688661) , National Silicon Industry Group Co.Ltd(688126) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) . Recommend Starpower Semiconductor Ltd(603290) , pay attention to Zhuzhou Crrc Times Electric Co.Ltd(688187) , Wingtech Technology Co.Ltd(600745) ; SiC pays attention to Phenix Optical Company Limited(600071) , Roshow Technoiogy Co.Ltd(002617) , Sanan Optoelectronics Co.Ltd(600703) , etc; IC design company can pay attention to Gigadevice Semiconductor (Beijing) Inc(603986) , Amlogic (Shanghai) Co.Ltd(688099) , Sino Wealth Electronic Ltd(300327) , Chipsea Technologies (Shenzhen) Corp.Ltd(688595) , etc.
Risk warning: downstream demand is less than expected; Domestic substitution is less than expected; Continuous risk of epidemic impact
