“湾芯展”新品齐发，中国半导体产业走向“多点突破”

Core Insights - The 2025 Bay Area Semiconductor Industry Ecosystem Expo (Bay Chip Expo) opened in Shenzhen, showcasing significant advancements in the semiconductor industry, particularly by companies like New Kai Lai and its subsidiary Wan Li Yan, which introduced a high-speed real-time oscilloscope that breaks bandwidth limits set by the Wassenaar Arrangement [1][4][5] - The event attracted over 600 exhibitors and featured key areas such as wafer manufacturing, advanced packaging, and specialized ecosystems for AI chips and edge computing, highlighting the rapid evolution from passive replacement to independent innovation within the industry [4][10] - Major companies like Huazhong Microelectronics and North China Innovation are now able to produce equipment that rivals or surpasses foreign counterparts, changing public perception of domestic semiconductor equipment [1][4] Company Highlights - New Kai Lai showcased 16 products at the expo, covering the entire chip manufacturing process, with Wan Li Yan's 90GHz oscilloscope ranking second globally in its category, crucial for testing advanced chips [4][5] - Huazhong Microelectronics announced progress on its 12-inch wafer manufacturing lines, focusing on high-end power products, with plans to achieve full production by the end of 2024 [7] - Huizhou Technology introduced a new software platform aimed at enhancing industrial automation, promising significant reductions in design and debugging time [5][6] Investment and Industry Trends - 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 long-term investment in the sector [9][10] - The "Big Fund Phase III" with a registered capital of 344 billion yuan is set to play a crucial role in supporting China's semiconductor industry, particularly in equipment and technology development [10][11] - The industry is transitioning from a "middle strong, both ends weak" structure to a phase of "multiple breakthroughs" and "core limitations," with significant progress in mid-process equipment and materials, although challenges remain in advanced lithography and high-end materials [11]