打赢材料“突围战”：国家队基金锚定AI产业核心

Core Insights - The third New Materials Empowering New Industries Partner Conference was held in Beijing, focusing on the integration of intelligence and materials, amidst a critical phase of global AI development and intense competition in computing power [1] - China National Building Material Group's new materials segment is projected to exceed 100 billion yuan in revenue by 2024, transitioning from a foundation for large infrastructure to a cornerstone for AI [1] - The China National Building Material Group established the China National Building Material New Materials Fund in 2021 to accelerate the layout of the new materials industry through market mechanisms, with three main missions: ensuring national supply chain security, empowering the new materials segment, and supporting core technological breakthroughs [2] Investment Strategy - The China National Building Material New Materials Fund has a total scale of 20 billion yuan, with an initial scale of 15 billion yuan, funded by various entities including national and local investment platforms [2] - The fund focuses on four strategic emerging industries: new generation information technology, new energy vehicles, aerospace, and new energy, which are critical for national economic development and material innovation [2] - As of the interview date, the fund has invested over 12.1 billion yuan across 48 projects, capturing synergistic effects across the industry chain [2] Material Innovation - The fund emphasizes the extreme purity requirements for materials in semiconductor manufacturing, such as electronic-grade polysilicon, which has seen a rise in domestic production from about 10% to 50%-60% [3] - Investments in high-purity quartz materials are crucial, as they are essential for semiconductor manufacturing, with current domestic production at approximately 25% [3] - The fund has also invested in the only independent photomask manufacturer without wafer factory shareholders, which is crucial for chip design [4] Dual-Driven Ecosystem - China National Building Material Group operates a dual-driven ecosystem of "technology innovation + industrial investment," with the fund acting as a front-line station, amplifier, and accelerator [5] - The fund organizes annual conferences to discuss supply and demand in the new materials sector, fostering collaboration among state-owned enterprises and investment institutions [5] Future Growth Areas - The fund anticipates significant growth in the "AI + display" sector, projecting a market increase of over $40 billion in the next five years [6] - In the "AI + new energy vehicles" sector, an estimated growth of $800 billion is expected, with investments in various core materials [6] - The "AI + energy" sector is projected to see a growth of 1.9 trillion yuan by 2030, with investments in smart grid materials [6] - The "AI + aerospace" sector is expected to grow by 600 billion yuan by 2030, with investments in advanced materials [6] Fund Performance - The fund has entered a virtuous cycle, with two projects successfully completing IPOs and several others in the pipeline [7] - Preparations for the second phase of the fund are underway, inviting more local capital participation [7]