Chip five giant innovative high platform, market value of more than 1.5 times Maotai!

category:Finance
 Chip five giant innovative high platform, market value of more than 1.5 times Maotai!


On December 4, the S & P 500 index rose 0.88%, the NASDAQ rose 0.7%, and the Dow rose 0.83%. The three major U.S. stock indexes continued to record new highs. The Philadelphia Semiconductor Index, composed of 30 well-known semiconductor listed companies listed in the United States, rose 2.83% and rose 6.14% this week. The latest index refreshed the historical record, and the weekly market value of 30 components increased by 139.586 billion US dollars (RMB 911.5 billion).

Among the 30 constituent stocks, only 4 companies stock prices fell this week, with Meguiar technology increasing by 14.18% this week. According to the statistics of securities times and data bank, the stock prices of 22 companies have set a new record this week. For example, the latest market value of TSMC, ASMC, Qualcomm, Broadcom and ultramicro semiconductor with a market value of more than 100 billion US dollars is the highest in history.

Chinas market demand increases

Semiconductor equipment is the support industry of semiconductor industry. On December 2, the International Semiconductor Industry Association (semi) released the global semiconductor equipment market statistical report, which showed that in the third quarter of 2020, the global semiconductor equipment sales increased by 30% year-on-year, 16% month on month, reaching US $19.38 billion, maintaining a high-speed growth. The rapid growth of sales of semiconductor equipment can also prove the high prosperity of the semiconductor industry.

The high prosperity of the semiconductor industry is inseparable from the rapidly growing demand of the Chinese market. Semiconductor equipment has always been the short board of Chinas electronic industry. The international semiconductor industry association also reported that in the third quarter of 2020, China Chinese mainland was the largest semiconductor equipment market, with sales volume of US $5 billion 620 million, an increase of 63% compared to the same period last year. Secondly, China Taiwan, with sales of 4 billion 750 million US dollars, up 22% over the same period last year; Korea ranked third, with sales of 4 billion 220 million US dollars, up 92% over the same period; Japan ranked fourth, with sales of 2 billion 240 million dollars. With a year-on-year increase of 34%; North America ranked fifth with sales of US $1.37 billion, down 45% year-on-year.

The high growth of semiconductor equipment demand in China is closely related to the US crackdown on Chinas science and technology industry. Just as the U.S. general election is over and the US president is about to change office, the United States does not intend to stop the blockade of Chinese technology enterprises. On December 4, the website of the US Department of defense officially listed SMIC in the so-called military related enterprises blacklist. China has to speed up its independent research to get rid of its dependence on the United States.

On the evening of December 4, SMIC announced that SMIC, a wholly-owned subsidiary of SMIC, had entered into a joint venture contract and related party transactions. SMIC holdings, national integrated circuit Fund II and Yizhuang Guotou signed a joint venture contract to jointly establish a joint venture. The registered capital of the joint venture is US $5 billion. SMIC holdings, big fund phase II and Yizhuang Guotou have agreed to contribute US $2.55 billion, US $1224.5 billion and US $1225.5 billion respectively, accounting for 51%, 24.49% and 24.51% of the registered capital of the joint venture, respectively. The business scope of the joint venture includes the production of 12 inch integrated circuit wafers and IC package series.

The semiconductor industry is booming, and the phenomenon of product shortage and price rising frequently occurs

How long can the semiconductor industry last? The world semiconductor trade statistics Organization (WSTS) predicted earlier this month that the global semiconductor market will reach US $433.1 billion in 2020, an increase of 5.1% compared with that in 2019. In addition to the expected decline in optoelectronics and discrete semiconductors, growth is expected in other major product categories. In 2021, the global semiconductor market will grow by 8.4% year-on-year, reaching $469.4 billion, the highest in history. Specifically, the main demand comes from the demand growth brought about by the large-scale construction of 5g and the recovery of the automotive industry, which bring benefits to the semiconductor market.

Specifically, the high prosperity of the semiconductor industry is reflected in product price increase or product out of stock in many fields. The development of 5g and automotive electronics has driven the demand for chips. In terms of supply, the shortage of newly issued chips due to factory shutdown has exacerbated the contradiction between supply and demand of chips, which has caused a drag on many industries including automobile and parts manufacturing.

Before that, the price of driving IC, power management chip and MOSFET all increased. Recently, MCU is another key component of semiconductor with rising price. Renesas electronics, a Japanese semiconductor manufacturer, issued a notice of product price increase to take effect on January 1, 2021, and several MCU factories have recently raised their prices simultaneously. At present, the domestic MCU market is mainly divided by foreign semiconductor companies such as Renesas electronics, NXP, Italy France semiconductor, Infineon and Texas Instruments. The domestic MCU echelon includes Zhaoyi innovation, Junzheng and Zhongying electronics. Zhongying electronics is one of the leading manufacturers of industrial control single chip in China, which is in the leading position in the field of home appliance MCU.

Another downstream product affected is the graphics card. According to a survey conducted by a Securities Times reporter in Huaqiangbei, it is difficult to find a high-end video card for most outlets, and it is difficult to improve it in the short term. The scarcity of graphics cards is not only driven by the rise of virtual currency, but also related to the lack of chips.

The main contradiction in the semiconductor industry is the sharp increase of terminal demand and the difficulty of keeping up with the current production capacity. Trendforce Jibang estimates that the annual growth of global foundry output value will reach 23.8% in 2020, breaking the peak in the past decade.

For example, at present, in the advanced process below 10nm, the capacity of head wafer foundry TSMC and Samsung are almost full capacity.

TSMC, as the global leader in wafer foundry, rose 4.24% in the US stock market on December 4 and exceeded 80% in the year. Its market value reached 537.9 billion US dollars, setting a new record and becoming the ninth largest company in the US stock market.

Looking forward to 2021 and 2022, MediaTek, NVIDIA and Qualcomm all have mass production plans for higher end products. Apple is also actively introducing self-developed maccpu and FPGA accelerators. In addition, there are plans for Intels high-end CPU generation. These capacity requirements will undoubtedly further compete for the capacity of wafer foundry enterprises and expand the gap of chip shortage. The process of chip manufacturing is inseparable from lithography. The capacity expansion of OEM increases the demand for lithography.

On December 4, asmai rose 2.54% in the U.S. stock market, setting a new record for its share price, which rose by more than 58% during the year, with a market value of $195 billion. In mid November, IMEC, a semiconductor research institute that cooperates with ASML to develop lithography machines, released technical details at the micro level for processes up to 3 nm. At present, ASML has made a very clear plan for 3, 2 and 1 nm, and has also published many details of 1nm. Judging from the volume of the lithography machine, it is really much smaller. (Wu Qi, databao)

TSMCs market value is over 1.5 times Maotai_ NF