Silan(SH:600460) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-20 14:54Core Viewpoint - The strategic cooperation agreement between Silan Microelectronics and the Xiamen government marks a significant investment in the semiconductor industry, with a total investment of 20 billion yuan to establish a 12-inch high-end analog integrated circuit chip manufacturing line, aimed at addressing the domestic shortage of key chips in various sectors [2][4]. Investment Details - The project will be executed in two phases, with the first phase involving an investment of 10 billion yuan, expected to commence by the end of 2025 and achieve production by the fourth quarter of 2027, ultimately reaching an annual production capacity of 240,000 chips [2][5]. - The second phase will also involve an additional investment of 10 billion yuan, increasing the monthly production capacity to 45,000 chips and an annual capacity of 540,000 chips [2][5]. Market Context - The domestic market for high-end analog chips currently has a low localization rate, heavily relying on imports, indicating significant growth potential for domestic production [2][4]. - The project is expected to alleviate supply pressure on core components in emerging industries such as new energy vehicles, AI, and industrial robotics, thereby promoting the localization process [4][6]. Financial Structure - The funding for the first phase includes 6.01 billion yuan in capital, with Xiamen state-owned assets contributing 3.6 billion yuan, accounting for over 60% of the total [3]. - Silan Microelectronics and its subsidiaries will contribute 1.5 billion yuan, with the remaining funds to be supplemented by future investors, supported by a special loan from the National Development Bank [3]. Industry Impact - The establishment of the production line is anticipated to create a significant industrial chain effect, attracting upstream and downstream enterprises to Xiamen and fostering a complete high-end chip industry ecosystem [3][4]. - Silan Microelectronics plans to leverage its expertise in technology and talent management to support the industry chain and enhance Xiamen's semiconductor innovation development [4][6]. Previous Collaborations - Silan Microelectronics has a history of collaboration with the Xiamen government, having previously signed an agreement to build an 8-inch SiC power device chip manufacturing line, which is also progressing towards production [6].