A-share semiconductor plate also strengthened at the opening, with Anji technology trading at one point, closing up 18.22% and Huate gas up 10.97%. Beijing Junzheng, Beifang Huachuang, Lanqi technology, Changdian technology and Guoke micro electronics all rose in succession.
Looking back on the listing schedule of SMIC, the company announced its IPO on science and technology innovation board on May 5; on May 7, the company signed a guidance agreement with investment banks on science and technology innovation board listing; on June 1, Shanghai Stock Exchange officially accepted the companys listing application; on June 7, Shanghai Stock Exchange disclosed the companys reply to the first round of inquiry letter; on June 19, the company successfully held a meeting. In 19 days, SMIC went through the whole process and landed in A-share capital market, which also created a historical record.
SMIC is the chip manufacturing enterprise with the highest scale and the most advanced technology in the mainland. Its most advanced logic process, 14 nm FinFET, has achieved mass production. Only four pure wafer foundry enterprises with mass production capacity of more than 14 nm in the world are TSMC, grofangde, Lianhua electronics and SMIC international. According to icinsights data, in 2018, SMIC accounted for 6% of the global pure wafer foundry market share, ranking fourth in the world, accounting for 18% of Chinas pure wafer foundry market, ranking second.
According to the public information, SMIC plans to issue no more than 1.686 billion shares in the science and technology innovation board this time, raising a total of 20 billion yuan, which will be used for 12 inch chip SNI project, advanced and mature technology research and development project reserve fund, etc. SN1 project is one of the two 12 inch wafer factories in Shanghai, which previously cost 10.2 billion US dollars. It is also the main production area of 14nm and future advanced technology.
Industrial Securities believes that, based on the ratio of TSMC market share, the potential valuation of SMIC is about 200 billion yuan.
Zhongxin international will become the first a + H semiconductor company of science and technology innovation board after listing. With the return of more high-quality technology companies, it will improve the technology content of A-share listed companies, which is conducive to the healthy growth of Chinas stock market.
Institutions are optimistic about these semiconductor stocks
Huaan Securities believes that under the dual background of domestic substitution and cyclical recovery, the domestic industry chain manufacturers with SMIC as the center will fully benefit, such as huiding technology, Weil, zhuoshenwei, Zhaoyi innovation, Shengbang, etc.
According to new era securities, the financing convenience of the capital market will help leading companies to achieve rapid expansion, and leading manufacturers of semiconductor sub circuit are expected to benefit, such as Zhuosheng micro in the RF field, Wentai technology in the power semiconductor, Changdian technology in the sealing and testing lead, Weil in the CIS field, and Zhaoyi innovation in the storage field. SMIC international returns to science and technology innovation, and the raised investment funds are mainly used for production line expansion, which will bring more demand for domestic semiconductor equipment and materials, and focus on domestic manufacturers in the core links, such as northern Huachuang, Anji technology, Jingrui Co., Ltd., and Zhonghuan Co., Ltd.
According to data treasure statistics, among the stocks mentioned by the above-mentioned institutions, the valuation is generally high, among which the rolling P / E ratio of huiding technology, Zhonghuan stock and jiejie micro electric is relatively low, less than 70 times. (data treasure Wu Qi)
Source: responsible editor of Securities Times: Yang Bin_ NF4368