晶圆厂，求变！

Core Viewpoint - The article discusses the strategic transformations of semiconductor companies in response to market changes, emphasizing the shift towards specialized processes and the importance of technology partnerships in the current geopolitical landscape [2][13][20]. Group 1: Company Strategies - Huahong Semiconductor is planning to acquire a controlling stake in Shanghai Huahong Microelectronics to resolve competition issues related to its IPO commitments [2][3]. - SMIC has shifted its focus to power semiconductors, indicating a proactive approach to meet customer demands and adapt to market changes [4][5]. - Chipone Integrated Circuit is implementing a dual-track strategy of self-research and foundry services, achieving significant revenue growth and marking its first quarterly profit [8][9]. Group 2: Market Dynamics - The semiconductor market is experiencing a transformation due to the explosive growth in AI chip demand and the rise of automotive semiconductors, contrasting with the decline in consumer electronics [3][6]. - Geopolitical factors are reshaping the global supply chain, prompting domestic foundries to seek new paths amid increased external restrictions [3][17]. - The demand for automotive electronics and power devices is driving the growth of domestic foundries, with significant increases in revenue from these sectors [9][10]. Group 3: Financial Performance - SMIC reported a sales revenue of $2.209 billion in Q2 2025, with a capacity utilization rate of 92.5%, reflecting a 22% year-on-year growth [5][6]. - Huahong Semiconductor's Q2 2025 sales revenue reached $566.1 million, a year-on-year increase of 18.3%, with a projected revenue of $620-640 million for Q3 [15][16]. - Chipone Integrated Circuit's revenue for the first half of 2025 was $3.495 billion, a 21.38% increase year-on-year, with a notable growth in module packaging business [9][10]. Group 4: Challenges and Opportunities - The transition to new markets presents challenges, including high capital expenditures and long certification cycles for automotive products [7][22]. - The dual-track model adopted by Chipone Integrated Circuit offers both opportunities for higher margins and risks related to resource allocation [12]. - The collaboration between international firms like GlobalFoundries and domestic companies through technology licensing is emerging as a new paradigm, enhancing local capabilities [13][14].