“湾芯展”新品齐发，半导体产业奔向斯普特尼克时刻

Core Insights - The 2025 Bay Area Semiconductor Industry Ecosystem Expo (Bay Chip Expo) opened in Shenzhen, showcasing significant interest in domestic semiconductor companies, particularly in the context of innovation and technology advancement [1][3] - New Kai Lai's subsidiary, Wan Li Yan, introduced a high-speed real-time oscilloscope with a bandwidth of 90GHz, which ranks second globally, indicating a shift from passive replacement to independent innovation in the semiconductor industry [3][6] - The expo attracted over 600 companies and featured key areas such as wafer manufacturing, advanced packaging, and AI chip ecosystems, highlighting the rapid development and diversification of the semiconductor sector in China [5][10] Company Highlights - New Kai Lai showcased 16 products covering the entire chip manufacturing process, emphasizing its capability to produce equipment comparable to or superior to international counterparts [5][8] - Huichuan Technology launched the Yuwo iFA Evolution platform, which aims to enhance efficiency in industrial automation, reducing mechanical design costs and time by 50% and electrical debugging time by 60% [7] - Huazhong Microelectronics reported progress on its 12-inch wafer manufacturing lines, focusing on high-end power products, with plans to achieve operational capacity by the end of 2024 [8] Investment and Funding - The Shenzhen Semiconductor and Integrated Circuit Fund was launched with an initial scale of 5 billion yuan, focusing on semiconductor equipment, chip design, and advanced packaging, indicating a strong commitment to supporting the industry [10][11] - The "Big Fund Phase III" with a registered capital of 344 billion yuan is set to significantly impact the semiconductor sector, with investments aimed at overcoming technological barriers and enhancing domestic capabilities [11][12] - The investment strategy includes supporting key equipment acquisitions, fostering potential chip design companies, and strengthening advanced packaging capabilities to break through overseas patent restrictions [10][12] Industry Trends - The semiconductor industry in China is transitioning from a "strong middle, weak ends" structure to a phase of "multiple breakthroughs" and "core limitations," showing significant progress in various segments [12][13] - Domestic companies have made strides in mid-process equipment for chip manufacturing, with local firms like North Huachuang and Tuo Jing Technology gaining recognition in international supply chains [12] - Despite advancements, challenges remain in the areas of advanced lithography machines and high-end materials, indicating a need for continued focus and investment [13][14]