心智观察所| 反倾销“双响炮”：中国打响模拟芯片保卫战

Core Viewpoint - The Chinese Ministry of Commerce has initiated anti-dumping investigations against U.S. analog chips and anti-discrimination investigations regarding U.S. measures in the integrated circuit sector, marking a new phase in the semiconductor competition between China and the U.S. [1][2] Group 1: Strategic Context - The timing of China's anti-dumping investigation is a direct response to the tightening of U.S. technology restrictions under the Trump administration, which is considering adding several Chinese chip manufacturers to an export blacklist [2][3] - The anti-dumping investigation is seen as a means to protect China's semiconductor industry and is supported by the Jiangsu Semiconductor Industry Association, reflecting the industry's demand for fair competition [2][4] Group 2: Product Focus - The investigation targets two specific product categories: general interface chips and gate driver chips, which are critical components in electronic systems and power management [3][4] - General interface chips serve as essential connectors in data transmission, while gate driver chips are crucial for controlling power semiconductor devices in applications like electric vehicles and industrial automation [3][4] Group 3: Market Data - From 2022 to 2024, the market share of U.S. analog chip products in China increased from 35.40% to 44.98%, with general interface chips rising from 36.94% to 48.63% and gate driver chips from 31.19% to 36.39% [4][9] - The import volume of the investigated products has shown significant growth, with a total of 11.59 billion units imported in 2022, increasing to 15.90 billion units projected for 2024 [5][7] Group 4: Pricing Dynamics - The average price of U.S. products has dropped dramatically from 3.36 yuan per unit to 1.62 yuan per unit, a decline of 51.77%, indicating a classic "price drop with volume increase" scenario typical of dumping practices [7][9] Group 5: Domestic Industry Challenges - Despite being the largest consumer market for analog chips, China's domestic production capability remains weak, with a local market share of only about 10% [10][14] - The complexity of analog chip design, which relies heavily on experienced engineers and specialized manufacturing processes, poses significant barriers to domestic companies [11][12] Group 6: Strategic Implications - The investigation is expected to create a more equitable competitive environment for domestic manufacturers like Sanan Optoelectronics and Aihua Electronics, particularly in the automotive and industrial control sectors [15][16] - The focus on products with a process technology of 40nm and above is strategic, as it aligns with China's existing manufacturing capabilities and market demand [15][16] Group 7: Long-term Industry Outlook - The anti-dumping measures are seen as a necessary step to protect and develop China's semiconductor industry, fostering a shift from merely filling gaps to building a robust technological foundation [16][17] - The investigation may catalyze a broader reevaluation of supply chains, encouraging more companies to consider domestic suppliers and enhancing the resilience of China's semiconductor ecosystem [16][17]