“明战”先进封装，芯片厂商加码布局

Group 1: Industry Developments - Advanced packaging technology is becoming crucial for extending Moore's Law, as traditional scaling methods face limitations due to rising costs in processes below 7nm [1][4] - The demand for advanced packaging is driven by high-performance computing, AI, data centers, autonomous driving, smartphones, and 5G communications [4][5] - Major global players like TSMC, Intel, and Samsung are prioritizing advanced packaging as a strategic focus [3][4] Group 2: Company Activities - Zhizheng Co., Ltd. plans to acquire Advanced Assembly Materials International Limited, a leading semiconductor lead frame supplier, through a significant asset swap and fundraising [1] - Huada Technology announced the establishment of a wholly-owned subsidiary for advanced packaging, indicating a trend among domestic chip companies to invest in this area [1][3] - Qizhong Technology aims to raise up to 850 million yuan for advanced packaging projects, while Baiwei Storage completed a private placement to fund its advanced packaging manufacturing expansion [3] Group 3: Equipment Demand - The shift towards advanced packaging is creating new demands for semiconductor equipment, with companies like ASMPT reporting a 50% year-on-year increase in orders for advanced packaging equipment [5] - The performance of advanced packaging equipment is critical, especially in complex scenarios like multi-layer stacking and hybrid bonding [5][6] - Domestic companies are striving to catch up, with projections of significant revenue growth for firms like Tuojing Technology, which anticipates a 52% to 58% increase in revenue by Q2 2025 [6]