As an important city of semiconductor industry, 66 semiconductor companies in Shanghai are listed in the "white list" of the first batch of key enterprises. On the latest progress of resumption of work and production, securities times · e company interviewed representatives of Listed Companies in the industry and supporting suppliers. It was learned that some staff have been approved to return to their posts, and the logistics of key materials has been improved. However, supporting services and policies such as personnel arrival and post change need to be improved. Product delivery is still facing problems such as extension and delayed revenue recognition, and the performance of Companies in some fields in the first quarter has been affected.
some personnel return to work
"After layers of approval, 10 of our engineers finally entered the factory at the weekend." The person in charge of a listed semiconductor equipment company told the securities times that the first batch of engineers entering the factory are working on the pre assembly of the equipment, so as to catch up with the construction period and deliver it to the next production process.
Although the subsidiaries of the above listed companies are on the "white list" of the first batch of resumption of work and production in Shanghai, the factory originally did not have supporting living facilities. "Because there was no canteen in the factory and we couldn't take a bath, we engineers came into the factory with living materials such as electric rice cookers." The official told reporters that the biggest hope now is to unseal as soon as possible.
According to the reporter, during the closure period in Shanghai, Semiconductor Manufacturing International Corporation(688981) , Huahong semiconductor and other major local semiconductor enterprises did not stop work, and the personnel implemented closed-loop production management.
Insiders previously told reporters that from the perspective of the impact of the epidemic on the industrial chain, companies such as design, software and EDA are relatively limited, and the wafer manufacturing link is greatly affected. Because the factory cannot be shut down, the equipment keeps running for 24 hours. Even if closed production is adopted, it is also necessary to prevent and control the risk of cross infection among employees. A number of semiconductor packaging plants and wafer manufacturing plants have been infected, and even the 8-inch production line was shut down for a time.
Semiconductor Manufacturing International Corporation(688981) latest response said that after Shanghai issued relevant guidelines on resumption of work and production, Semiconductor Manufacturing International Corporation(688981) actively sorted out the personnel returning to the factory, handled relevant procedures for employees outside the closed loop, and arranged for employees to return to their posts by shuttle bus.
At present, some employees outside the closed loop have successively entered the closed loop management. It is reported that closed-loop management has been implemented since March 18, realizing the synchronous integrated closed-loop management of Zhangjiang plant and two living parks. The total number of employees in the closed-loop accounts for more than 60% of employees in Shanghai. At present, the company's production and operation are normal, and the capacity utilization rate remains at a high level.
Semiconductor silicon chip giant National Silicon Industry Group Co.Ltd(688126) introduced that the company strengthened the management of existing personnel in the plant, ensured the safety of the existing production environment, actively arranged and contacted the personnel who can return to work, made preparations before entering the plant in combination with the policy, strengthened the excavation and material preparation, created a living environment for the personnel who return to work, maintained close contact with relevant departments, and actively communicated with customers and suppliers to ensure the smooth flow of production materials.
In contrast, the equipment maintenance and optoelectronic material suppliers related to the semiconductor industry asked by the reporter are still under static management, the local sales and business personnel have not returned to work, and the business has basically stagnated. Most of the sales acceptance personnel of the docking semiconductor factory are in the field to ensure delivery. Another lithography machine ASML Shanghai after-sales technicians revealed that some provide factory service and live in the factory's staff dormitory.
Even if large factories have the necessary facilities for closed-loop production and life of employees, employees' job change, physical and mental health and other issues still need to be paid attention to under the current epidemic prevention and control.
A listed company of head semiconductor equipment told reporters that it needs to pay attention to the phased impact of epidemic prevention and control. For example, after the closure in Shanghai, the company organized a number of employees to go to the company overnight to ensure the stability of production and operation during the closure period. "In terms of employee turnover, some employees of the company have been on duty for more than one month. How to ensure the physical and mental health of these employees and how to carry out necessary personnel turnover need to be adjusted and made efforts by the company according to the epidemic policy."
Listed companies do their best to ensure the physical and mental health and work safety of employees.
Looking back at the beginning of the epidemic, Advanced Micro-Fabrication Equipment Inc.China(688012) immediately established a leading group for epidemic prevention and control, headed by Chairman Yin Zhiyao, and set up an epidemic prevention and control working group. On the one hand, it coordinated the procurement of epidemic prevention materials at home and abroad, on the other hand, it organized the company's IT department to independently develop the "employee daily health reporting system" in a very short time, Regularly push the phased anti epidemic summary "campaign release" and care information prepared by the company to enhance employees' confidence.
During the period of closed-loop production management, Anji Microelectronics Technology (Shanghai) Co.Ltd(688019) implemented closed-loop management on the production base located in Shanghai Shanghai Jinqiao Export Processing Zone Development Co.Ltd(600639) Comprehensive Bonded Zone, and also organized a number of trainings on the company's products and related applications, so as to effectively complete the training on the premise of reasonable arrangement, avoiding excessive gathering of personnel and ensuring that various protective measures are taken in place.
As a semiconductor IP licensing service enterprise, Verisilicon Microelectronics (Shanghai) Co.Ltd(688521) opened the cloud office mode. The R & D centers in Chengdu, Nanjing, Haikou and Beijing operated efficiently and cooperated remotely with Shanghai, alleviating the pressure and impact of the epidemic in Shanghai. During the period of working at home, the company arranged and distributed living supplies for Shanghai employees, and also planned home online activities and psychological training courses such as calligraphy, guqin and fitness.
important material support efforts increased
Before the current round of epidemic in Shanghai, the semiconductor industry and have been faced with a "lack of core" situation of tight logistics supply; In the process of resumption of work and production, it is particularly important to ensure the smooth transportation of important production materials.
On April 24, Eastern Air Logistics Co.Ltd(601156) carrying 5.4 tons of photoresist arrived at Pudong Airport, and Huahong group provided materials for continued production, according to China civil aviation news. Photoresist is a key raw material in integrated circuit production, and has high requirements for transportation. Huahong group needs about 3000 bottles of photoresist by air every month. Under the coordination of Shanghai Municipal Transportation Commission, Eastern Air Logistics Co.Ltd(601156) established the "aviation logistics support transportation team of Huahong project". Since April, Eastern Air Logistics Co.Ltd(601156) has transported 2 batches of photoresist for Huahong group, with a total of 8.9 tons.
For the above news, the reporter of the Securities Times has not contacted Huahong group for verification. In addition, other listed companies in semiconductor materials, equipment, testing and other links introduced to reporters that the "special pass" played a role at the critical moment. During the epidemic prevention and control period, Shanghai is also working together to ensure the stable production and supply of key IC raw materials.
Recently, the Shanghai Integrated Circuit Industry Association has cooperated with the economic operation Department and the Electronic Information Industry Department of the Municipal Economic Commission to handle a total of 101 passes, solving the transportation of more than 500 tons of raw materials. The electronic information office of Shanghai Municipal Commission of economy and information technology, together with the association, issued a "special pass for business support to ensure material transportation letter" to the city's integrated circuit manufacturing enterprises.
In order to ensure the smooth transportation of materials, Anji Microelectronics Technology (Shanghai) Co.Ltd(688019) administrative public relations department colleagues took the lead to communicate with government departments and customers continuously, complete the handling of various certificates in time, and finally successfully complete the transportation of goods and deliver them to local customers on time, so as to ensure the uninterrupted supply.
A leading semiconductor material manufacturer previously told reporters that after the closure of Shanghai, the enterprise implemented closed-loop management at the first time, and the production has not stopped to ensure the shipment of customers. "There are many challenges in the transportation of goods. Fortunately, the customer did not stop production because of our goods." However, if the current situation of sealing and control continues, it is still worried that material transportation will face challenges.
Guangdong Leadyo Ic Testing Co.Ltd(688135) director and general manager Zhang Yifeng told the securities times that as the first third-party professional testing manufacturer of a shares, the company has received government support in its factories in Guangdong and Shanghai. Guangdong Department of industry and information technology, Dongguan Bureau of industry and information technology and Shanghai Municipal Commission of economy and information technology have issued truck passes to the local factories of the company to ensure material transportation. During the period of sealing and control, the factories of Shanghai subsidiary have not stopped working, and the suppliers basically supply goods every week.
It is reported that the current customer-oriented logistics transportation is relatively smooth, and the freight has increased. Among them, the value of goods of wafer factory customers is high, and customers can relatively accept the increase of freight; In comparison, the value of packaged products is relatively low and the willingness to accept them is lower. The company's inspection is that the goods are mainly wafers.
However, the person in charge of aixtron, a supplier of deposition equipment in the semiconductor industry, told reporters that the company still faces the problem that it is difficult to put key parts in place. This problem has not been alleviated, and the delivery period of equipment is up to 11 or 12 months.
Advanced Micro-Fabrication Equipment Inc.China(688012) faces the problem of shortage of similar important parts. Also at the performance presentation meeting a few days ago, senior executives of the company said that the shortage of supply chain has become more serious from the end of last year to the beginning of this year. China microenterprise has extended the delivery cycle in accordance with the usual international practice. At the same time, it has strengthened communication with suppliers at all levels and cooperated to deal with the shortage of parts in the supply chain, including using its own supply chain to help upstream suppliers solve the shortage of some parts; At the same time, Advanced Micro-Fabrication Equipment Inc.China(688012) also gives full play to the advantages of flexible manufacturing, adjusts the production plan in time, shortens the manufacturing cycle to the greatest extent, and maintains a 100% on-time delivery rate at this stage.
According to the research of Susquehanna financial group, the waiting period for semiconductor delivery increased slightly in March, reaching a new high of 26.6 weeks.
Semiconductor manufacturers told reporters that on the whole, it is more difficult for large companies to resume work and production, and more personnel, materials and equipment need to be prepared in place. After all, it is still in closed-loop production during the sealing and control period. At present, the impact on the semiconductor industry is relatively limited. If the work can be resumed in May, it is expected to return to normal in about half a month as soon as possible. "At present, confidence is the most affected.".
Quarterly performance change
As a cyclical industry, the semiconductor industry has come to the inflection point of prosperity, changing from general rise to structural differentiation. The latest data show that the output of integrated circuits in China has declined.
According to the latest operation monitoring report of the electronic industry in the first quarter of 2022 released by the China Academy of communications and communications, since this year, the output of integrated circuits has continued the downward trend. In March, the output fell to 28.5 billion pieces, a year-on-year decrease of 5.1%. In the first quarter, the cumulative output of integrated circuits reached 80.7 billion pieces, a year-on-year decrease of 4.2%. The quarterly cumulative output shrank for the first time since the second half of 2019.
The Institute pointed out that China's electronic manufacturing industry has maintained a leading position in industry and manufacturing, the growth rate of production and investment has continued to be much higher than the overall level of national industry, and exports have maintained double-digit growth; However, due to the contraction of demand and the impact of the epidemic, the output growth of key products such as integrated circuits showed a significant downward trend, so it is necessary to be vigilant against the risk of continuous pressure in the second quarter.
In terms of timing, the first quarter belongs to the traditional off-season of the semiconductor industry. Generally, the net profit growth rate of Listed Companies in most industries decreased month on month. However, this year, the performance of leading listed companies in some subdivided fields turned from increase to decrease and even suffered losses. The first quarter showed that the performance of semiconductor materials and equipment was generally good, while the performance of design enterprises dominated by consumer electronics fell seriously, the inventory was high, and the cash flow deteriorated in the first quarter.
As the leader of image sensor, Will Semiconductor Co.Ltd.Shanghai(603501) latest disclosed quarterly report shows that from January to March this year, the operating revenue of the company was 5.538 billion yuan, a year-on-year decrease of 10.84%, and the net profit was 896 million yuan, a year-on-year decrease of 13.9%; Compared with last year, the company's net profit was about 4.5 billion yuan, a year-on-year increase of 65%.
The company pointed out that due to the decline of shipments in the smartphone market and the impact of a new round of epidemic in China, the company's operating revenue and net profit decreased slightly in the first quarter. With the positive adjustment of the company's product structure and the gradual recovery of major market segments, the company expects that the net profit in the second quarter of 2022 is expected to increase by no less than 50% compared with the first quarter.
in addition to the consumer electronics industry, the prosperity of the LED industry also has an inflection point Shanghai Bright Power Semiconductor Co.Ltd(688368) is a leading enterprise in LED power drive chips. In 2021, the company's net profit reached 677 million yuan, a year-on-year increase of nearly nine times. However, the net profit in the first quarter of this year turned into a loss of 11.48 million yuan, a significant decrease compared with 69.17 million yuan in the first quarter of last year. The company said that in the first quarter of this year, the global havoc of Omicron virus and its spread in China had a certain impact on China's logistics and production activities upstream and downstream of the industrial chain. Since mid March, the Shanghai area where the company's headquarters is located has been seriously affected by the epidemic, and the limited logistics has brought some challenges to product sales.
The sales volume of LED manufacturing industry is relatively low affected by the Spring Festival holiday compared with the first quarter of last year, affected by the shortage of upstream wafer production capacity, Shanghai Bright Power Semiconductor Co.Ltd(688368) the downstream customers of the industry in which Shanghai Bright Power Semiconductor Co.Ltd(688368) is located have strong demand for goods preparation, and the off-season is not light. Significantly increased the year-on-year base. By the first quarter of this year, the imbalance between supply and demand in the industry had been alleviated, showing a normal seasonal off-season.
In addition, Sanan Optoelectronics Co.Ltd(600703) headquarters is not located in Shanghai, but it is also affected by the industry boom adjustment and the epidemic. Last year, the company's net profit reached 1.313 billion yuan, an increase of nearly 30% year-on-year. However, in the first quarter of this year, the income did not increase, the net profit decreased by about 20% year-on-year, and the net cash flow from operating activities decreased by about 60% year-on-year.
Sanan Optoelectronics Co.Ltd(600703) pointed out that affected by epidemic control, annual maintenance and rhythm adjustment of downstream customers, some customers of the company's filter business could not successfully complete the factory inspection, the delivery was affected, and the sales revenue was only 16 million yuan. According to the preliminary communication with customers, with the elimination of the impact of the epidemic, it will be gradually supplemented in the future.
Industry insiders pointed out that in the past two years, the industry "lacks core and increases prices". Some enterprises have strategic cooperation to ensure supply, and there is no shortage from head to tail. The expansion of production in some links leads to overcapacity, but the wafer factories and upstream silicon wafers and raw materials are in short supply. Although the demand for consumer electronics has fallen, the demand of industries such as industry and new energy vehicles is still strong.
Hangzhou Lion Electronics Co.Ltd(605358) last year, the net profit nearly tripled year-on-year, reaching 600 million yuan. In the first quarter of this year, the net profit reached 238 million yuan, a year-on-year increase of 2 times. Secretary Wu nengyun told reporters that the gross profit margin of semiconductor power devices reached 51% last year, and the company's wafer production capacity now ranks among the top five in China. Benefiting from the development of clean energy such as photovoltaic and wind energy, as well as the strong demand for terminals such as new energy vehicles and industrial automation control, it is expected that semiconductor silicon chips will maintain strong demand in the next 3-5 years.
