On December 31, the last day at the end of last year, industrial and commercial changes occurred in pilot film materials Co., Ltd. (hereinafter referred to as “pilot film company”), a subsidiary of Guangdong pilot group, and the new shareholders involved A-share company Byd Company Limited(002594) .
Thus, the current round of financing of pilot film was officially completed.
It is reported that the financing scale exceeds RMB 1.2 billion, led by CICC capital and Byd Company Limited(002594) , followed by Sinopec, Tbea Co.Ltd(600089) group, Ming Yang Smart Energy Group Limited(601615) . In the future, the leading thin film company will continue to invest in R & D on products including semiconductor display targets, heterojunction Cecep Solar Energy Co.Ltd(000591) targets, thin film Cecep Solar Energy Co.Ltd(000591) targets and solid fuel cell targets, so as to further expand the market scale.
It is disclosed that the leading film company was established in July 2017. Its parent company, pioneer group, was established in Guangdong in 1995. It is a global rare metal material technology enterprise. Pioneer film company is committed to R & D, production, sales and recovery of sputtering targets and evaporation materials for vacuum coating. Its products are widely used in display, photovoltaic, semiconductor, precision optics, data storage and glass.
core material of chip
The main coating processes are PVD (physical vapor deposition) and CVD (chemical vapor deposition). The leading film adopts PVD coating process. PVD coating process originated abroad. In the early stage of industry development, the supporting equipment and coating materials are mainly foreign manufacturers. For a long time, the development and production of PVD coating materials in the world are mainly concentrated in the United States and Japan, with high industrial concentration.
At present, the two most mainstream PVD coating methods are sputtering coating and vacuum evaporation coating. Sputtering coating process is widely used in semiconductors and display panels. Sputtering target is a necessary raw material for VLSI manufacturing.
Due to the rapid development of terminal application markets such as electronic products, the market scale of sputtering targets also shows a momentum of rapid growth. According to the data of China industry information network, the market space of the global target industry is expected to increase from the current level of 20 billion yuan to 30 billion yuan in 2023.
As the core technology of sputtering target originated abroad, the products and technology have been monopolized by foreign companies for a long time. According to Zhiyan consulting data, there are mainly four enterprises in the global sputtering target market: Nippon metal, Honeywell, Dongcao and plex, accounting for 80% of the global market share.
This round of financing of pilot film company will be mainly used for R & D of sputtering target products and expanding market scale. Pioneer film company can produce sputtering targets for semiconductor chip manufacturing. In May 2020, G4 produced by pioneer film R & D The 5th generation line lanthanide rare earth doped metal oxide (LN IZO) target has been successfully delivered to Huaxing optoelectronics. The target is a new generation of TFT semiconductor channel layer material, and its performance can meet the application requirements of channel layer materials for ultra-high definition display and flexible display in the future.
layout upstream market
In recent years, the penetration rate of Shanxi Guoxin Energy Corporation Limited(600617) automobile has increased from 1.4% in 2015 to 10% at present.
The increased penetration of the new energy vehicle market will drive the demand for on-board semiconductors. According to the data of China Automobile Industry Association, each traditional internal combustion engine vehicle needs 500-600 chips, while in the era of new energy vehicles, the consumption of single chip rises to 1000-2000. With the rise of new energy vehicles, the demand for semiconductor chips is also increasing day by day. In 2020, the automotive chip market has reached 43.9 billion, and it is expected to reach 90.3 billion by 2026.
Byd Company Limited(002594) chairman Wang Chuanfu believes that compared with traditional cars, the demand for semiconductors of electric vehicles has increased by 5-10 times, and the “lack of core” has made it impossible to produce about 7 million electric vehicles in the world. At the same time, electric cars are the first half and smart cars are the second half. Smart cars have greater demand for semiconductors.
According to McKinsey statistics, the proportion of vehicle borne semiconductor in China’s L3 and above higher-level autopilot is estimated to increase from 27.8% in 2025 (5 billion US dollars) to 44.8% (13 billion US dollars) in 2030. In addition, with the rapid improvement of the penetration rate of new energy vehicles, the “three electric system” will gradually replace the traditional fuel power system, accompanied by a significant increase in the proportion of vehicle electronic cost in the whole vehicle.
The electric and intelligent transformation of the automotive industry will accelerate the reconstruction of the supply chain system. Wang Chuanfu once said: ” Byd Company Limited(002594) will actively layout the upstream and downstream of the industrial chain to strengthen the company’s comprehensive competitiveness.” This Byd Company Limited(002594) lead investment pilot film a round of financing slightly shows one spot of its industrial chain layout.
(source: financial Associated Press)
