Hua Hong Semiconductor 20 1 1 Hua Hong NEC merged with Li Hong Semiconductor. NEC in Hua Hong was founded in 1997. In the past, it mainly developed, manufactured and sold DRAM wafers for NEC. In 2003, Hua Hong Group took back the management right of Hua Hong NEC joint venture factory from NEC, gradually stopped DRAM production and began to engage in chip foundry business. Shanghai Li Hong Semiconductor was established at the end of 2000, mainly engaged in manufacturing computer chips, independent NOR flash memory, eFlash, automobile engine controllers and other products. 20 1 165438 February, Hua Hong NEC merged with Li hong semiconductor, and in 20 13 month, the group completed the reorganization, which constituted today's Hua Hong semiconductor.
Simply put, Hua Hong Semiconductor focuses on the characteristic technology of semiconductors. The main technologies include embedded nonvolatile memory, logic and RF, discrete devices, analog and power management, and independent nonvolatile memory, which are widely used in consumer electronics, communications, computers, industry and automobile markets. In practical applications, processor chips and memory chips follow Moore's Law and need advanced manufacturing technology. However, radio frequency, power supply, sensors, analog and other equipment are produced through a unique manufacturing process. Compared with advanced logical technology, characteristic technology has the characteristics of independent scale, relatively mature technology, less capital expenditure, less investment in product research and development, longer product life cycle and more types.
1, Hua Hong Semiconductor delivered a beautiful semi-annual report, and the Wuxi factory performed well.
At present, the global chip shortage and rising prices are constantly fermenting, and many semiconductor manufacturers have successively released "innovative high" financial performance. Following SMIC, Hua Hong Semiconductor also delivered the first half performance of 202 1 on August 65438+2. According to the financial report released by the company, in the first half of 2002110,000, the revenue of Hua Hong Semiconductor reached 65 1 10,000 US dollars, an increase of 52.0% compared with the first half of 2020; The net profit was 7765438 USD +0.4 million, an increase of 1.02% compared with the first half of 2020. Among them, in the first quarter and the second quarter of 2002/kloc-0, Hua Hong's revenue was 305 million dollars and 346 million dollars respectively. At the same time, the company announced the guideline for the third quarter of 200210, and the estimated income is about USD 4 10/00000, which is expected to create a new high in a single quarter. Both revenue and net profit grew rapidly, and Hua Hong ushered in a "highlight moment" in the semiconductor industry.
At present, in Shanghai Jinqiao and Zhangjiang, Hua Hong Semiconductor has built three 8-inch wafer foundries (Shanghai No.1 Factory, No.2 Factory and No.3 Factory) with a total production capacity of 6,543,800 wafers per month. Among them, the production capacity of the first plant and the second plant is 65 thousand tablets/month and 60 thousand tablets/month respectively; The production capacity of the third plant is 53,000 pieces/month, and it is estimated that the subsequent production capacity can be increased by1~ 20,000 pieces/month. It is worth adding that the first factory, the second factory and the third factory in Shanghai are all wholly owned by Hua Hong Semiconductor. The process nodes of the first and second factories are 1μm -95nm, which mainly produce smart cards, analog devices, power management, power devices and sensors. The process nodes of the Third Factory are 0.25μm~90nm, and the main products are microcontrollers, smart cards, consumer electronics products, sensors and so on. By the second quarter of 20021,the revenues of the first, second and third factories of Hua Hong Semiconductor had reached a record high of 262 million US dollars, accounting for 75.7% of the quarterly revenue.
Tang, President and Executive Director of Hua Hong Company, said, "For three 8-inch production lines, this quarter is also the best quarter ever. The operating income of the 8-inch platform reached a record high of $262 million. Thanks to the improvement of the average selling price and the efficiency of the production line, the gross profit margin of 8 inches increased from 27.3% in the first quarter of 202/kloc-0 to 3 1.6%. The net profit contributed was USD 5,654,380,000+300,000, accounting for 65,438+09.6% of the total income. We will seize the opportunity to continue to improve the technical platform of the 8-inch production line, and the benefit prospect of the 8-inch production line is still promising. "
In addition, Hua Hong Semiconductor also has a 12 inch wafer foundry in Wuxi, with a process node below 90nm. At present, its main products are flash memory, power devices and CIS image sensors. According to public information, the Wuxi factory was jointly invested and built by Hua Hong Semiconductor, the National Integrated Circuit Industry Fund and an investment company established by Wuxi local government. At present, Hua Hong Semiconductor holds a total of 565,438+0%. Hua Hong Wuxi base has a total investment of US$ 654.38+0 billion, covering an area of about 700 mu.
By May of 20021year, the production capacity of Wuxi 12 inch factory in Hua Hong has reached 48,000 pieces/month, and it is expected to expand to 65,000 pieces/month by the end of 20021year. In a recent report, orient securities believed that Wuxi plant is expected to expand its production to about 80,000 pieces/month in 2022, becoming the leading 12-inch characteristic process production line in Chinese mainland and the first 12-inch power device OEM production line in Chinese mainland. Orient securities said that if the average selling price (ASP) of 12 inch film 1000 ~ 1200 USD is calculated, when the production capacity in Wuxi, Hua Hong reaches 80,000 films/month, it will contribute 960 ~1500,000 USD. In terms of business volume, it is equivalent to building another Hua Hong. The report also mentioned that Hua Hong is expected to have three 12 inch production lines in Wuxi with a total production capacity of 200,000 pieces/month after the Wuxi base project is fully completed. The production capacity of Wuxi factory in Hua Hong has risen rapidly, which is also clearly reflected in the financial report released by the company. In the second quarter of 20021,Wuxi factory of Hua Hong No.7 Factory contributed 24.3% of the revenue. In the second quarter of 2020, this figure was only 4.2%.
At this performance briefing, Tang said: "The revenue of Hua Hong Wuxi 12 inch production line in the second quarter reached 84 million US dollars, up 786.8% year-on-year and 54.0% quarter-on-quarter, and the profit before interest, tax and amortization was 29.9 million US dollars, up 208.3% from the previous quarter. As of May this year, the monthly production capacity of 12 inch production line has reached 48,000 pieces, and the production capacity has been fully utilized. By the end of this year, we will steadily realize the production capacity of 65,000 tablets per month. The company will continue to increase investment, further expand production capacity, continuously optimize process layout, and develop and grow together with the industrial chain. "
"The output of Wuxi factory is growing very fast, and most of the growth comes from Wuxi." Tang said that ASP in Wuxi 12 inch wafer fab in Hua Hong and three 8 inch wafer fabs in Shanghai have all improved, and it is expected that ASP will continue to improve. "ASP of 8-inch and 12-inch fabs will grow by 3-5% every quarter, and it is expected to bring ASP growth of more than 10% every year and will continue to grow." Therefore, Hua Hong said that he would continue to be optimistic about the performance in the third quarter of 200210, with an estimated income of about USD 4 10/00000 and a gross profit margin of 25-27%.
It is worth mentioning that Zhao Haijun, co-CEO of SMIC, also said that due to the expansion of production capacity and slow delivery, demand will be in short supply at least before the end of the year or the first half of 2022, and predicted that prices may continue to rise in the third and fourth quarters of 2002/KLOC-0. At the performance briefing in Hua Hong, Tang also said that the unit price in the second half of 20021is expected to increase by 3-5% every quarter, and the unit prices of 8 inches and 12 inches remain optimistic. Prior to this, chip foundry manufacturers including Samsung Electronics and UMC have also predicted the price increase in the second half of 20021,and the industry expects the wafer foundry price to rise further in the next three quarters.
2. The expansion of production capacity is accelerating, and the equipment should go first. Hua Hong expressed its willingness to support and introduce domestic semiconductor equipment.
The foundry price of chip factories is rising quarter by quarter because the imbalance between supply and demand in the whole semiconductor market is constantly fermenting. According to the latest data of market analysis organization Heiner International Group, the chip delivery time in July 20021year increased by more than 8 days compared with the previous month, reaching 20.2 weeks, which is the longest waiting time since the company started tracking this data in July 20 17. From this perspective, the global chip shortage is worsening.
As a result, various wafer foundries have thrown out capacity expansion plans. TSMC, the world's largest chip foundry, has announced that it will invest $654.38 billion in the next three years, and its capital expenditure will increase to $30 billion this year. UMC announced a $3.58 billion investment case to expand Conan's 12 inch factory; Samsung will increase its investment in business areas such as system LSI and OEM before 2030, with a total investment of about1.51.60 billion USD. Intel announced a series of expansion projects, and plans to invest about $20 billion to build two new fabs in Arizona. SMIC plans to expand the monthly production capacity of 12-inch production line 10000 pieces this year, and the monthly production capacity of 8-inch production line is not less than 45,000 pieces; Anshi Semiconductor said that it will invest 700 million US dollars in the next 12~ 15 months to expand the production capacity in Europe and Asia. Singh announced the construction of a new wafer factory in Singapore Park to expand the global manufacturing scale.
Hua Hong also revealed at this performance briefing that Wuxi 12 inch wafer factory will fill the clean room in the first stage after reaching the monthly output target of 65,000 wafers at the end of this year, with a monthly output of 90,000 to 95,000 wafers. It is expected that the equipment will be imported by the end of next year. "Once this part of production capacity is formed, the capacity utilization rate will be filled quickly." Tang also said that Hua Hong has a large area of land in Wuxi, and may build three similar fabs in Wuxi. If the demand continues, it will continue to expand the factory. Tang said that the production capacity of Wuxi 12 inch factory will increase by double digits in the first and second quarters of 2022 compared with this year, but the expansion process will be affected by semiconductor equipment. "At present, there are many expansion projects on the market and the equipment delivery time is long. The expansion progress is mainly due to the equipment delivery time. If the equipment delivery time is shorter, the expansion progress will be faster. "
In fact, under the fierce expansion of production of major fabs, as the largest expenditure in the expansion plan, semiconductor equipment has become a "hot potato", and many factories are chasing after it, but with the shortage of goods in the whole industry chain, upstream equipment manufacturers are also caught in the dilemma of material shortage. For example, Advantest, the global leader of chip test equipment, has become increasingly difficult to purchase chips for test equipment. Usually the delivery time of equipment is 3-4 months, but now it is extended to about 6 months. Previously, Xinyuan Wei, a domestic semiconductor equipment manufacturer, also announced that some imported equipment and materials needed by the company's "R&D Center Project of High-end Wafer Processing Equipment" could not be supplied normally and in time, and the procurement, installation and debugging of the project equipment were postponed, and the progress of the R&D project was less than expected. The company plans to adjust the time for the project to reach the scheduled usable state to March 3, 20221day. And the upstream materials are also in a hurry. For example, according to previous market news, Shinetsu Chemical, a Japanese supplier with a global photoresist market share of more than 20%, has actively expanded its global wafer factories due to its limited production capacity of KrF photoresist, limiting the supply of KrF photoresist to many domestic first-tier wafer factories and informing smaller wafer factories to stop supplying KrF photoresist.
(I'm a technophile organization)