Since the beginning of the year, chip related topics have been repeatedly sought after by funds. During this period, Shanghai silicon industry, Jingfang technology, Ziguang Guowei, Zhongwei, NANDA optoelectronics, jucan optoelectronics and other bull stocks emerged in large numbers. In recent years, with the change of international environment and the impact of epidemic situation, the theme of chip has been significantly adjusted. According to statistics, the latest closing prices of huiding technology, SMIC international, Zhaoyi innovation and Zhongwei are all more than 40% of the years high. So, is this the end of the chip market?
Xuanwei, chief strategic analyst of Huaxia Fund, once said that the current prosperity of the chip industry and the progress of localization import are in a relatively good state, but the overall valuation is relatively high. However, with the recent adjustment, the chip board valuation has digested part of the fourth quarter has a better investment window. If the long-term view, the chip plate investment certainty is strong.
A number of public funds believe that A-share phased adjustment or has come to an end. With the deepening of economic recovery, passive external shocks and continuous promotion of incremental funds, the structural market of a shares is expected to continue to perform. As core assets, such as consumer electronics, semiconductors and new energy vehicles, are still expected to achieve excess returns.
The demand for domestic high-end chips is strong, and nearly 10000 enterprises have switched to the chip industry
Compared with developed countries, Chinas chip industry is highly dependent on imports. According to the data released by the General Administration of customs, the number of integrated circuits imported from the mainland will reach 44.29 billion in August 2020, and the total amount of integrated circuits imported from the mainland from January to August is 1.5 trillion yuan. With the continuous development of a new round of global scientific and technological revolution and industrial transformation, the demand for more powerful computing and storage capacity is increasing day by day, and domestic high-end chips also usher in new opportunities.
The huge demand space stimulates more enterprises to invest in the chip field. It is reported that in the first 8 months of 2020, nearly 10000 enterprises in China switched to the chip industry, and the market expects that Chinas total semiconductor investment will reach 9 trillion and 500 billion yuan in the next five years.
As the United States tightens the sale of chips and other products, the risk of global chip supply chain is increasing. 5g industry leader Huawei has already begun to accelerate the layout of chip supply chain. Since the establishment of Hubble Technology Investment Co., Ltd. in April last year, Huawei has continuously increased investment in Chinese enterprises related to semiconductor industry chain through the company. Up to now, the registered capital of Hubble technology has reached 1.7 billion yuan, and 17 chip related companies have been invested abroad, including 9 companies with a registered capital of more than 50 million yuan.
Not long ago, Cologne, which is mainly engaged in fine chemicals, started a cross-border acquisition. The company intends to acquire 100% equity of juxun semiconductor technology (Shanghai) Co., Ltd., which is an integrated circuit design enterprise focusing on the R & D and sales of analog integrated circuit chips. After the announcement of the news, Cologne shares gained 4 trading plates in succession, with a cumulative increase of more than 1 times in just 4 days.
In the evening of September 27, the agricultural environment, which is mainly engaged in landscaping, announced that the company intends to increase the capital of Suzhou neixia semiconductor, with a registered capital of 51 million yuan. Nongshang environment hopes to cut into the field of integrated circuit industry, introduce the advanced technology of nexia device Co., Ltd. in the field of transmission and high-definition display integrated circuit chip, rely on the demand of domestic electronic consumer market, develop and design TV display driver chip, and find new business growth point for the company.
In view of the large number of concept stocks related to A-share chip related topics, data treasure has sorted out the top 50 chip concept companies from the perspectives of research and report of securities companies, market value, R & D investment and performance of listed companies. Overall, the market value of a shares of 50 leading chip companies totaled 1.98 trillion yuan.
According to the consensus forecast data of more than five institutions, most of the leading chip stocks are expected to increase their net profit by more than 10% in 2020. Among them, 10 chip stocks, including Tongfu micro power, Dinglong shares, Changdian technology, Changchuan technology and Weill Co., Ltd., are expected to double their net profit growth.
The companys main business is IC packaging testing. The net profit of the company is predicted to be 382 million yuan, an increase of 1896.05% year-on-year. Guosheng Securities believes that on the basis of more clear industrial trend in the future, Tongfu micro electric benefits from multiple factors such as AMD, storage, domestic customers, etc., Hefei factorys storage and drive chip layout card, Xiamen factorys layout of advanced packaging. Meanwhile, the companys prudent depreciation policy in the acquisition of Suzhou and Penang plants is expected to gradually release some profits.
Intensive policies to support emerging industries such as chips
In recent years, Chinas investment in the field of science and technology continues to increase, especially in key areas such as chips, and more and more enterprises have invested in chip R & D. At the same time, supporting policies to support the development of the chip industry are also intensively introduced.
The national development and Reform Commission (NDRC) reported on September 23 that the guiding opinions on expanding investment in strategic emerging industries, cultivating and strengthening new growth points and growth poles jointly issued by the national development and Reform Commission and other four departments proposed to speed up the strengths and weaknesses of the new material industry. Focusing on ensuring the stability of the supply chain of key fields such as large aircraft, microelectronics manufacturing and deep-sea mining, we will accelerate breakthroughs in the fields of photoresist, high-purity target materials, high-temperature alloys, high-performance fiber materials, high-strength and high-conductivity heat-resistant materials, corrosion-resistant materials, large-size silicon wafers, and electronic packaging materials.
On September 24, the Shanghai Municipal Economic and Information Commission and other departments printed and distributed the innovative industry planning of New Lingang district. The plan points out that it will focus on the fields of high-end chips, key devices, characteristic processes, core equipment and key materials, and strengthen the collaborative research and development of equipment, core components and key materials such as photoresist, silicon materials and compound semiconductors. We will explore and build a trading platform for integrated circuit chips, equipment and parts that radiate the Asia Pacific region. According to the analysis of insiders, the valuation level of the technology sector represented by chips has been digested to a certain extent after substantial adjustment in the early stage. With the approaching of the disclosure quarter of the third quarter report and the support of policy, there is room for chip leading companies to rebound in the next four quarters. Which chip stocks will take the lead out of the quagmire remains to be seen. Source: Securities Times editor in charge: Zhang Mei_ NF2100
On September 24, the Shanghai Municipal Economic and Information Commission and other departments printed and distributed the innovative industry planning of New Lingang district. The plan points out that it will focus on the fields of high-end chips, key devices, characteristic processes, core equipment and key materials, and strengthen the collaborative research and development of equipment, core components and key materials such as photoresist, silicon materials and compound semiconductors. We will explore and build a trading platform for integrated circuit chips, equipment and parts that radiate the Asia Pacific region.