The hottest IC industry is developing rapidly and

2022-08-12
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The rapid development of the integrated circuit industry ushered in a growth inflection point period

in recent years, driven by the national integrated circuit industry investment fund, the semiconductor integrated circuit industry has attracted a wave of investment boom. Industry analysts believe that China's integrated circuit industry will usher in a growth inflection point driven by three factors: strong national support, import substitution of domestic chips, and increased demand from emerging industries such as artificial intelligence, driverless, wearable devices, while ensuring that additives have a suitable performance price ratio

at present, China's electronics industry with semiconductors as the core is entering a period of great development. According to the statistics of China Semiconductor Industry Association, the sales volume of the semiconductor industry in the first half of this year reached 220.13 billion yuan, a year-on-year increase of 19.1%

it is understood that China has become one of the most dynamic regions of the integrated circuit industry in the world, and has gradually formed industrial regions such as the Beijing Tianjin Bohai Rim region centered on Beijing, the Yangtze River Delta region centered on Shanghai, and the Pearl River Delta region centered on Shenzhen. The sales revenue of the three industrial clusters accounts for more than 90% of the total industrial scale. Among them, Shanghai's integrated circuit industry achieved double-digit growth in 2016, and its sales revenue exceeded the 100 billion mark for the first time, reaching 105.3 billion yuan

the three industrial clusters also have their own priorities: the Bohai Rim region focuses on chip research and development, the Yangtze River Delta region focuses on chip manufacturing and packaging testing, and the Pearl River Delta region focuses on chip design. Nowadays, a number of integrated circuit enterprises with certain international competitiveness have emerged in the three industrial clusters, such as Hisilicon, ZTE microelectronics, Huada semiconductor, Shilan micro, Datang semiconductor, Beijing Zhongxing microelectronics

at the same time, the semiconductor industry has also become the focus of the capital market. In the past three years, driven by the investment fund of the integrated circuit industry, the integrated circuit industry has attracted a long lost investment boom

according to the data, there are more than 20 listed IC design companies, 70 A-share listed companies in the semiconductor and component industry, and many listed companies take advantage of the A-share market to implement overseas mergers and acquisitions. Institutional investors account for more than 35% of the equity of semiconductor companies, and some are even higher

it is worth noting that large funds investing in the whole industrial chain of integrated circuits have played an important role in this round of investment boom. On September 24, 2014, the large fund (national integrated circuit industry investment fund) was jointly initiated and established by CDB finance, China tobacco, Yizhuang state investment, China Mobile, Shanghai Guosheng, CETC, Ziguang communication, and China rare earth magnesium ductile iron core investment, especially China. After its establishment, the large fund has successively signed investment agreements with companies such as China micro semiconductor, SMIC international, Ziguang group, San'an optoelectronics, Beidou Xingtong, and Shilan micro

while increasing investment at the national level, the support of local governments has accelerated the full explosion of semiconductor industry capacity. It is reported that at present, Beijing, Shanghai, Shenzhen, Nanjing, Hefei, Xiamen, Wuxi, Shijiazhuang, Kunshan, as well as Fujian, Hubei, Anhui, Shaanxi, Guangdong, Sichuan, Liaoning and other places have established integrated circuit industry investment funds with a scale of more than 10 billion. The total scale of large funds has reached 138.72 billion yuan, and the cumulative scale of enterprise and local industrial funds has exceeded 500 billion yuan

with the help of multiple factors, the semiconductor industry has entered a stage of rapid development. According to Wang Yanhui, founder of Jiwei, if the past five years have been the five years for the growth of Chinese concept stocks, IC (integrated circuit) concept stocks will usher in a huge explosion cycle in the next five to ten years

however, in view of the surging industry investment boom, Chen Datong, chairman of Huachuang Investment Committee, called on the industry to remain calm. He said that the problem in the semiconductor industry is not a simple acquisition problem, but how to digest production capacity and localization, but the capital market lacks experience and motivation. Therefore, the power of capital is far from enough

Chen Datong, for example, Huachuang investment acquired a company, which can be packaged and listed to make money. However, without the "leg" of localization, the local market and supply chain cannot do well, and the market can not play a role in the industrial chain if it is willing to position itself well

"the only way is to cooperate with domestic leading enterprises. Our integration is not to cash out in the capital market, but to find a suitable enterprise to integrate with it and promote the integration of the two." Chen Datong said that the localization of enterprises is the real thing PE should do

in addition, the industry is also worried that competing for the layout of the integrated circuit industry in many places will lead to vicious competition

in this regard, Zhang Rujing, founder of SMIC international, said that the semiconductor industry is an industry with high investment, high risk and slow return, and local governments need to calmly and rationally develop the semiconductor industry. He suggested that all kinds of semiconductor industry investment funds should be effectively organized, and through the construction of an efficient cooperation platform, the coordination, resource integration and information sharing between industry capital should be promoted, so as to realize resource optimization, complementary advantages, information exchange, reasonable regional layout and avoid vicious competition, enhance the overall advantage of China's semiconductor industry capital and avoid resource dispersion

according to Wang Huilian, general manager of Xiamen semiconductor investment group, the semiconductor industry "has serious deficiencies in R & D investment and capacity." He said that China's integrated circuit industry has become one of the most dynamic regions in the world. Semiconductors seem to be standing in the wind, but the R & D investment of enterprises is seriously insufficient. In addition, in the case of limited scientific and technological resources, the chip industry is still supported by traditional means and methods, lacking structural breakthroughs and weak resource planning ability

Zhang Rujing agrees with this. He believes that the biggest problem in the semiconductor industry is not capital, nor the lack of market and government support, but talent. "In the short term, China will have a large number of semiconductor chip factories to start, where do talents come from?" Zhang Rujing said that if you poach from other chip factories in China, it is an act of "digging east to pay West", which will cause personnel instability, unable to accumulate experience, difficult to inherit technology, and no guarantee of product quality

he suggested that enterprises should use self-developed processes from the beginning and protect themselves with sufficient patents and authorized IP

in addition, although there are a large number of domestic semiconductor enterprises, they are small and fragile. Experts said that from the perspective of the entire industrial chain, the earliest development was only asset light design companies. Therefore, we should strengthen the application and design with advantages, and complement the shortcomings in materials and so on

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