The epidemic has impacted the semiconductor industry chain, and the Ministry of industry and information technology has orderly promoted the resumption of work and production: according to the statistics of China Semiconductor Industry Association, in 2020, the output value of Shanghai’s integrated circuit industry accounted for 23% of the country. At present, 27 of the 94 semiconductor enterprises listed on A-Shares have their office address in Shanghai. In addition, Semiconductor Manufacturing International Corporation(688981) , Huahong Hongli and other wafer foundry factories are located in Shanghai. The main factories of National Silicon Industry Group Co.Ltd(688126) , Advanced Micro-Fabrication Equipment Inc.China(688012) , shengmei Shanghai and other semiconductor material and equipment companies are also located in Shanghai. The semiconductor industry chain is greatly affected by the Shanghai epidemic. In order to ensure the smooth operation of the industrial chain and supply chain, the Ministry of industry and information technology has sent a working group to Shanghai to set up a “white list” of key enterprises in the field of industry and information technology, and concentrate resources to give priority to ensuring the resumption of work and production of 666 enterprises in key industries such as integrated circuit and automobile manufacturing. According to xinzhixun, at least 59 IC enterprises are on the white list, including Huahong, Zhongxin wafer, Pnc Process Systems Co.Ltd(603690) , shengmei semiconductor, ASML, applied materials, Fanlin semiconductor, Anlun and other well-known semiconductor enterprises at home and abroad.
TSMC Q1’s performance grew strongly and it is optimistic that the semiconductor boom will continue: TSMC Q1’s revenue was NT $491.08 billion (equivalent to US $17.57 billion), yoy + 36%, QoQ + 12%, and net profit was NT $202733 billion, yoy + 45.1%, QoQ + 22%. Both revenue and net profit reached a record high; The gross profit margin was 55.6%, yoy + 3.2pct and QoQ + 2.9pct, which increased significantly year-on-year and month on month, and exceeded the previous performance guidelines. In terms of revenue structure, the 5nm / 7Nm products of Q1 company account for 20% / 30% of the total wafer revenue respectively. Looking forward to the second quarter, TSMC expects Q2 sales of US $17.6 ~ 18.2 billion and gross profit margin of 56% ~ 58%. Q2 guidelines are optimistic. TSMC said that although the demand for PCs, tablets and smartphones is weakening, it still expects the chip demand to continue for a long time, and said that the chip production capacity will remain tight this year. The Q1 performance of TSMC, the industry leader, is growing strongly, and it is optimistic that the demand for semiconductors will continue to grow.
SiC demand remains strong and the localization process of the industrial chain is accelerated: according to the wind direction of the third generation semiconductor, the domestic substitution in the field of semiconductor equipment is accelerating. On April 14, Jihua laboratory released a news that the SiC high-temperature epitaxial equipment independently developed by its high-power semiconductor research team has made a breakthrough. All the core components of the equipment are made in China, and the localization rate of the whole machine exceeds 85% Naura Technology Group Co.Ltd(002371) , Nashi intelligence and Suzhou laboratory have also made breakthroughs in the development of silicon carbide epitaxial equipment. In addition, the production expansion projects such as CRRC era SiC MOSFET chip, hantiantiancheng SiC epitaxy and Tianyue advanced SiC substrate have been promoted in an orderly manner, and the localization process of the whole industrial chain from SiC equipment, substrate and epitaxy to chip has been accelerated.
Mini led continues to expand production and naked eye 3D brings new business opportunities: according to Hubei Daily, Skyworth Wuhan Mini LED display technology industrial park is expected to be completed and put into operation in the second quarter of next year. After the completion of the project, a large intelligent manufacturing base of mini LED TV with an annual output of more than 2.4 million units and an annual output value of more than 10 billion yuan will be formed. According to experts, the mini led backplane project invested and constructed by Qingdao fusion New Material Technology Co., Ltd. has a total investment of 2.5 billion yuan. After the completion of the project, the annual output of mini led backplane will be 20 million square meters, which will lead the accelerated development of mini LED technology and meet the needs of high-definition, lightweight and seamless splicing. Naked eye 3D focuses on the exploration and innovation of application scene mode. Driven by 3D technology, LED industry technology and the demand of online Red economy, naked eye 3D is more and more widely used in urban intelligent construction. According to the 2022 white paper on small spacing and micro spacing research, the number of naked eye 3D projects in China has reached 100, covering an area of more than 50000 square meters, and the market space potential is huge. Naked eye 3D brings the demand for screens and opens up new growth space for the LED industry.
Bidding situation of semiconductor equipment this week: according to the data of electronic trading platform for bidding and tendering of mechanical and electrical products, this week (202204.11202204.15), Shanghai Jita added 13 bidding equipment and 6 winning equipment this week, Shanghai Huali integration added 1 winning equipment this week, Fujian Jinhua added 5 bidding equipment and 1 winning equipment this week. In terms of domestic equipment, Kingsemi Co.Ltd(688037) won the bid for 5 film brushing machines, 1 anti reflection layer gluing machine, and Zhejiang luyuer Semiconductor Equipment Co., Ltd. won the bid for 1 high current ion implantation equipment for 12 inch wafer factory.
Investment suggestions: recommendations for parts and components of semiconductor equipment: recommended recommendations for parts and materials for semiconductor devices and materials for semiconductor devices and materials: recommendations for parts and components of semiconductor devices and materials for parts and components of semiconductor devices and parts for parts and components of materials and parts of materials for semiconductor devices. Investment suggestions: recommendations for parts and components of semiconductor devices and materials for semiconductor devices and parts of semiconductor devices and materials for parts and materials for parts and components of semiconductor devices: recommendations for parts and materials for semiconductor devices and parts of semiconductor devices and materials for parts and parts of semiconductor equipment: the 605605353535 . IC design recommendations: Gigadevice Semiconductor (Beijing) Inc(603986) , Unigroup Guoxin Microelectronics Co.Ltd(002049) , Maxscend Microelectronics Company Limited(300782) , pay attention to Will Semiconductor Co.Ltd.Shanghai(603501) , Sg Micro Corp(300661) , 3Peak Incorporated(688536) , Bestechnic (Shanghai) Co.Ltd(688608) , etc; Recommend Starpower Semiconductor Ltd(603290) , Wuxi Nce Power Co.Ltd(605111) , pay attention to Zhuzhou Crrc Times Electric Co.Ltd(688187) , Wingtech Technology Co.Ltd(600745) , Yangzhou Yangjie Electronic Technology Co.Ltd(300373) ; SiC pays attention to Sanan Optoelectronics Co.Ltd(600703) , Tianyue advanced, Phenix Optical Company Limited(600071) , Roshow Technoiogy Co.Ltd(002617) , etc.
Risk warning: downstream demand is less than expected; Domestic substitution is less than expected; Continuous risk of epidemic impact
