BK0002 Semiconductors
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The third phase of the National Big Fund was officially established! The semiconductor industry is facing significant benefits; which targets are expected to benefit?
Regarding the specific investment of the third phase of the Big Fund, CITIC Securities expects semiconductor manufacturing to remain the largest, and is expected to further increase support for critical areas such as equipment, materials, components, EDA, and IP. It is recommended to continue to focus on leading companies in related fields.
Increase the target of mass production of heterogeneous advanced packaging, Ningbo Silicon Electronics released a 1.2 billion yuan convertible bond plan, and long-term loans surged 2.4 billion yuan last year
① Ningbo Silicon Electronics announced a convertible bond issuance plan, which plans to raise no more than 1.2 billion yuan, of which 900 million yuan is intended to be used for multi-dimensional heterogeneous advanced packaging technology research and industrialization project construction; ② The sealing and fan-out packaging technology involved in the above project is the foundation for implementing the Chiplet solution. Ningbo Silicon Electronics has successfully developed wafer-level fan-in packaging technology before.
Science and Technology Innovation Board Evening News|Yongsi Electronics plans to issue convertible bonds to raise no more than 1.2 billion yuan, Jinguan Electric won the bid for the 33.5859 million yuan State Grid Zhejiang Electric Power Project
① 9 departments: Strengthen research on intellectual property protection rules such as artificial intelligence, genetic technology, and webcasting; ② The Shanghai Stock Exchange terminated the initial listing review on the Science and Technology Innovation Board of Ola Co., Ltd.
The price of memory chips has risen by about 50% year on year, institutions say there is plenty of room for a rebound in the industry
① Memory chips are the most important segment of the semiconductor market, mainly divided into flash memory and memory. The data shows that since this year, the price of memory chips has increased by about 50% compared to the same period last year. ② Shanxi Securities said that in the future, as operating margins improve due to continued increases in storage prices, leading storage manufacturers are expected to experience a double hit in performance and valuation from Davis.
Science and Technology Innovation Board Evening News|Youfang Technology: Terminating the issuance of A-shares to specific targets in 2023, Xidi Micro shareholders plan to reduce their holdings by no more than 2%
① Xinguang Optoelectronics: Plans to transfer 12.5% of the shares of the holding subsidiary Zhongjiu Xinguang; ② Warner Pharmaceuticals: plans to pledge 17.9767% of Heyi Vision's investment of no more than 40 million yuan; ③ Yifei Laser: plans to acquire 51% of Xinjuli's shares for 30 million yuan.
Science and Technology Innovation Board Evening News|Aisen Co., Ltd. plans to invest in an integrated circuit materials project, shareholders of Kemei Diagnostics plan to reduce their holdings
① National Data Administration: Exploring collaboration between the central government and the region to promote digital transformation and institutional innovation; ② Guangzhou initiates legislative work on the “Low-Altitude Economic Development Regulations”; ③ Lihewei: Shareholder Chen Jincheng made a bulk transaction to reduce the company's shares by 350,000 shares; ④ China Innovation Co., Ltd. plans to distribute a cash dividend of 2.4 yuan for every 10 shares in 2023.
ATTENTION! The A-share ban will be lifted next Monday to exceed 40 billion yuan, and a large percentage of the unbanned stocks will be released
① Over 40 billion yuan was lifted in a single day! There will be a small peak next Monday when the ban will be lifted; ② Attention! These 7 stocks have been banned for a large amount and a large percentage of them “double listed.”
Chuangyao Technology: Starlight Technology aims to have many customers and the first batch of chip-related terminal products from many companies is expected to be launched in the second half of the year｜Direct Performance Meeting
① Tan Yaolong of Chuangyao Technology said that starting in the first quarter of 2024, the promotion of Starlight terminal products driven by leading companies has accelerated, and there are many customer manufacturers that intend to engage with the company regarding Starlight technology; ② The State Grid's market tenders for smart meters increased markedly this year. Tan Yaolong said that it had a positive impact on the sales of the company's power line carrier communication chip products.
“Questioned” that the dividend ratio is too low Silan Wei: It's very hard work to be a semiconductor, and it is expected that Q2 deducts non-net profit will improve further | Direct impact on performance
① In 2023, Silan Micro's net loss was 35.785,800 yuan, the first loss since listing; ② According to reports, the company's 6 inch and 8 inch production lines were basically full in April, and the company's silicon carbide orders are currently being delivered by customers; ③ Silan Wei said that as revenue continues to grow, it is expected that Q2 deducted non-net profit will improve further.
400 million! Big Fund Phase II, Beijing Integrated Circuit M&A Fund, etc. took steps from Sinsong Semiconductor
① Recently, Shenyang Xinsong Semiconductor announced the completion of a strategic investment. Investors include China Micro Semiconductor and the National Integrated Circuit Industry Fund. ② Shenyang Xinsong Semiconductor was previously developed by the Sinsong Robotics Semiconductor Equipment Division.
Another 150 million yuan! A small border town in Heilongjiang has emerged as a third-generation semiconductor company
① Beiyi Semiconductor was founded in 2020 from the small border town of Muleng. The latter belongs to Mudanjiang City, Heilongjiang Province. The founder is an entrepreneur returning home with 21 years of work experience at Samsung in South Korea; ② Beiyi Semiconductor's recent two rounds of financing are related to “production line expansion”. Technically, Beiyi Semiconductor has also moved from IGBT modules to silicon carbide MOSFETs.
Is depreciation “crushing” performance? SMIC: It will take time for the new construction project to achieve benefits and prioritize the supply of urgent orders such as mobile phones | Direct access to the performance conference
① At the performance conference held by SMIC today, the company's co-CEO Zhao Haijun said that the company has seen an increase in the willingness of global customers to prepare goods. ② Zhao Haijun revealed at the performance meeting that the company received some urgent orders in the first quarter of this year, and some production lines were close to full load, so priority was given to guaranteeing urgent orders related to market share, such as mobile phones.
SMIC's first quarter revenue rose 19.7% year on year, net profit of 71.8 million US dollars, down 68.9% year on year
SMIC expects revenue growth of 5% to 7% month-on-month in the second quarter, and gross margin in the range of 9% to 11%.
Domestic semiconductor Shuangxiong's Q1 performance is under pressure, and Q2 revenue may now be recovering, but the decline in gross margin is likely to be a drag
① In the first quarter, both companies' revenue and capacity utilization increased month-on-month; ② capital expenditure in the first quarter both declined month-on-month; ③ both expected revenue to increase month-on-month in the second quarter, but gross margin declined month-on-month.
Opinion | The market is moving forward amidst hesitation, and Hong Kong stocks are moving towards a bull market
The reason is also very simple: believe in common sense and believe in a return to the mean.
The popularity of autonomous driving is rising, and the industry is expected to be stimulated by both technological breakthroughs and demand volume
Debon Securities pointed out that in the context of continuous upgrading of autonomous driving technology, on the one hand, existing domestic high-level autonomous driving will break through to a higher level, and at the same time, some autonomous driving functions will also slow down and gradually become the “standard” for smart cars.
#中芯国际 2024Q1 Performance Topic #持续更新
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Chengdu HuaWei: The decline in Q1 performance means that chips can cover the needs of drone applications in the industry cycle | Direct access to performance
① After successfully landing on the Science and Technology Innovation Board in February of this year, Chengdu HuaWei's latest financial report for the first quarter showed that its performance declined by a certain margin over the previous year; ② At today's results meeting, Wang Ce, director and general manager of Chengdu HuaWei, said that due to the economic environment, industry cycle, etc., the company's business situation in the first quarter was affected to a certain extent.
Demand for memory chips may remain strong in the second half of the year, and manufacturers are expected to face a double hit in performance and valuation
① Samsung Electronics expects strong demand for server memory chips and steady demand for mobile and PC memory chips in the second half of the year. ② Gao Yuyang of Shanxi Securities said that the upward trend in prices is clear, and storage has entered a new upward cycle. In the future, as operating profit margins improve due to continued price increases in storage prices, storage manufacturers are expected to experience a double blow from Davis in performance and valuation, and there is plenty of room for a rebound in the industry.
In April, these listed companies were “broken through the threshold”! Drone concept stocks were surveyed by a group of institutions. A list of individual stocks with the highest number of visits received by the agency
① Sort through the list of listed companies that received more than 400 institutional visits in April (with photos). Lanqi Technology, Huaming Equipment, and Tianfu Communications ranked in the top three; ② Huazuan Testing and Hikvision, which are under the same drone concept, are all “famous on the list”.