A-share image sensor chip leader Will Semiconductor Co.Ltd.Shanghai(603501) 4 released the annual report of 2021 on the evening of April 18. In 2021, the company achieved an operating revenue of 24.104 billion yuan, a year-on-year increase of 21.59%, and a net profit of 4.476 billion yuan, a year-on-year increase of 65.41%, reaching a new high. The company plans to distribute a cash dividend of 5.2 yuan (including tax) for every 10 shares and increase 3.5 shares. The total cash distribution is expected to be 455 million yuan.
Industry insiders said that the global semiconductor industry will continue to enjoy a high outlook in 2022, and the chip manufacturing capacity will remain tight. Among them, there is strong demand in high performance computing (HPC) and automotive fields.
vehicle penetration increased
Relying on the strategy of endogenous development and asset acquisition at the same time, Will Semiconductor Co.Ltd.Shanghai(603501) semiconductor design business has achieved significant growth. With the successful completion of the acquisition and integration of assets such as Beijing Howell and sibico, Will Semiconductor Co.Ltd.Shanghai(603501) product line and R & D capability have been expanded and improved, and three business systems of image sensor solutions, touch and display solutions and simulation solutions have been established. The image sensor business accounts for 71% of the main revenue.
Will Semiconductor Co.Ltd.Shanghai(603501) is one of the top three CMOS image sensor suppliers in the world, leading the world in many market segments Will Semiconductor Co.Ltd.Shanghai(603501) said that compared with its competitors, the company's CMOS image sensor business has diversified application areas. In addition to smart phones, tablet computers and other major markets, it has a complete product line in the fields of vehicle camera, medical treatment, UAV, security monitoring and AR / VR, with a high market share.
In 2021, the operating revenue of Will Semiconductor Co.Ltd.Shanghai(603501) semiconductor design business increased by 18.02%, mainly due to the substantial growth of the company's image sensor solutions in the fields of automobile and security. In the field of vehicle, the sales scale and market share of the company's image sensors have increased significantly. In the field of security, application scenarios such as smart city and smart home based on big data analysis put forward higher requirements for image sensors, and the company's medium and high-end security products grew rapidly during the reporting period.
The demand in the field of consumer electronics is weak, and the application scenario of CMOS in mobile terminals is under pressure. However, the auto market is expected to become one of the main driving forces for Will Semiconductor Co.Ltd.Shanghai(603501) future growth. Frost & Sullivan predicts that by 2024, the global shipment of CMOS image sensors will reach 9.11 billion and the market scale will exceed US $23.8 billion. The automotive industry will become the fastest growing application market of CMOS image sensors, and will achieve a compound annual growth rate of 29.7% by 2023.
strong demand in downstream market
The performance express released by Galaxycore Inc(688728) recently, which is also a supplier of CMOS image sensors, shows that the company achieved a revenue of 7 billion yuan in 2021, an increase of 8.44% year-on-year; The net profit attributable to the owners of the parent company was 1.259 billion yuan, a year-on-year increase of 62.78% Galaxycore Inc(688728) said that the prosperity of the semiconductor industry continued to improve. The company's main product lines such as CMOS image sensors and display driver chips were full of orders, and the gross profit margin increased steadily.
As the wind vane of the semiconductor industry, TSMC will release a positive signal for the high outlook of the global semiconductor industry in 2022. TSMC said that the demand for high-performance computing (HPC) and automobile is strong, and the semiconductor industry will show structural growth for a long time. It is expected that the chip manufacturing capacity will remain tight in 2022.
In the first quarter of 2022, TSMC achieved a revenue of US $17.57 billion, an increase of 36% year-on-year and 12% month on month; The gross profit margin reached 55.6%, with a year-on-year increase of 3.2 percentage points; It is expected to achieve revenue of US $17.6 billion to US $18.2 billion in the second quarter of 2022, with a year-on-year increase of 32% - 37%.
From the performance forecast of a number of semiconductor enterprises in the first quarter of 2022, the industry also shows a high outlook.
Hangzhou Silan Microelectronics Co.Ltd(600460) it is estimated that the net profit in the first quarter of 2022 will increase by 86.855 million yuan to 121597 million yuan over the same period of last year, with a year-on-year increase of 50% - 70%. The company said that it maintained a high capacity utilization rate in the first quarter, continued to make breakthroughs in automobile, communication, new energy and other markets, and continued to optimize the product structure.
Semiconductor equipment manufacturer Naura Technology Group Co.Ltd(002371) expects that the net profit attributable to shareholders of Listed Companies in the first quarter increased by 170% - 200% year-on-year Naura Technology Group Co.Ltd(002371) stressed that the downstream market demand is strong, and the business of electronic process equipment and electronic components continues to grow, resulting in year-on-year growth in the company's operating revenue and net profit.
It is worth noting that Will Semiconductor Co.Ltd.Shanghai(603501) , Galaxycore Inc(688728) registered addresses are located in Shanghai. According to the statistics of China Semiconductor Association in 2020, Shanghai accounted for 23% of the national semiconductor output value, and gathered the world's major semiconductor OEM enterprises including Semiconductor Manufacturing International Corporation(688981) , Huahong, packaging and testing enterprises including rimoonlight and Amkor, as well as thousands of chip design enterprises.
Huatai Securities Co.Ltd(601688) said that the impact of the epidemic on the foundry business in Shanghai is generally controllable. At present, the main bottleneck is the sealing and testing link, because the sealing and testing is a labor-intensive industry. In addition, the poor logistics has a certain impact on the industrial chain links such as chip delivery and equipment installation.
The Ministry of industry and information technology said on April 18 that it would establish a daily scheduling mechanism for leading enterprises in key industrial chains such as automobiles, integrated circuits and consumer electronics, strengthen the linkage between ministries and provinces, strengthen the accurate support of communication big data for smooth logistics, refine and implement various measures to ensure the stability and smoothness of the supply chain of key industrial chains.
