Core Viewpoint - The semiconductor packaging leader, ASE Technology Holding Co., announced a significant acquisition to enhance its advanced packaging capacity, driven by strong demand from high-performance computing (HPC) clients and the growing need for advanced packaging solutions [2][4]. Group 1: Acquisition and Expansion Plans - ASE Technology plans to acquire a facility from Win Semiconductors for NT$6.5 billion (approximately US$215 million) to expand its advanced packaging capacity in Kaohsiung [2]. - The new facility acquisition is expected to contribute NT$19.39 billion (approximately US$640 million) in profits, translating to a pre-tax earnings contribution of NT$4.57 per share [2]. - ASE's new K28 plant is set to begin construction in October 2024 and is expected to be completed by 2026, focusing on CoWoS advanced packaging capacity [2][3]. Group 2: Financial Performance and Projections - ASE's revenue for the third quarter is projected to increase by 12% to 14% in USD terms, with a corresponding increase of 6% to 8% in New Taiwan Dollar terms, despite a slight decline in gross margin due to currency appreciation [3][4]. - The advanced packaging and testing business is expected to contribute an additional US$1 billion in revenue compared to 2024, representing a 10% annual growth rate for the packaging segment [3][4]. - The company anticipates that the demand for high-end packaging, particularly 2.5D and 3D packaging, will continue to rise, necessitating the expansion to alleviate capacity constraints [3][4]. Group 3: Market Outlook and Strategic Positioning - ASE is optimistic about the recovery of the global semiconductor market by 2026, leveraging its technological leadership and capacity advantages to solidify its market position [4]. - The company aims to enhance its turnkey services, integrating advanced packaging and testing, with testing revenue growth expected to outpace packaging revenue growth this year [3][4]. - ASE's revenue for July reached NT$51.542 billion, marking a 4.1% month-over-month increase and a 7.95% year-over-year increase for the first seven months of the year [4].

日月光投控第二季度 净利润75.2亿元台币，同比下降3.3%，预估99.7亿元台币；第二季度 营业利润 101.9亿元台币，同比增长13%，预估124.6亿元台币。 ...

Core Viewpoint - The article discusses the shift towards Fan-Out Panel Level Packaging (FOPLP) as a new mainstream for AI chip packaging, with major companies like TSMC, ASE, and others investing in this technology to increase production and reduce costs [1][2]. Group 1: Industry Trends - FOPLP is expected to replace CoWoS as the leading technology for AI chip packaging, with a focus on enhancing the yield of large-sized AI chips and lowering production costs [1]. - TSMC is constructing a pilot production line for FOPLP in Taoyuan, aiming for small-scale trial production by 2027, utilizing a smaller substrate size of 310mm x 310mm compared to previous attempts [1]. Group 2: Company Strategies - ASE has been investing in FOPLP for over a decade, with a $200 million investment in equipment to establish a production line in Kaohsiung, expected to begin trial production by the end of this year [2]. - Powertech Technology has begun small-scale shipments of FOPLP and is validating high-end products for a major client, with packaging costs reaching $25,000 for advanced SoC designs [2]. - Innolux has validated its FOPLP products and plans to ramp up production by 2025, anticipating that the AI boom will drive demand for high-end chips [2]. Group 3: Technological Developments - Innolux's Chip First technology aims to reduce die size and costs while maintaining high I/O density and lower packaging thickness, suitable for various advanced applications [3]. - The company has outlined a roadmap for FOPLP technology, with Chip First technology set for mass production this year, followed by RDL First technology in one to two years, and TGV technology in two to three years [3].

Core Viewpoint - Advanced packaging demand is just beginning, and the company will continue to invest heavily in this area, particularly in Southeast Asia, while strengthening production lines for automotive and robotics testing [1][2] Group 1: Company Strategy - The company plans to increase investments in advanced packaging and testing capabilities, with panel-level packaging set to begin small-scale production by the end of the year [2] - The CEO emphasized that the company will not hold back on investments, particularly in advanced packaging, until at least 2026 [1] Group 2: Market Outlook - The global semiconductor market is expected to reach $1 trillion in the next decade, driven primarily by AI as a key innovation force [1] - The company anticipates a 10% year-over-year increase in advanced packaging revenue this year, reflecting strong demand in the AI hardware sector [1] Group 3: Industry Trends - TSMC's CoPoS advanced packaging technology is seen as an upgrade to CoWoS, with the potential for outsourcing production to packaging partners as demand increases [2] - The company views the diversification strategies of offshore clients as both a challenge and an opportunity for the Taiwanese semiconductor industry [2]

Core Viewpoint - The company is optimistic about its operations in the second half of the year, driven by the demand for advanced packaging due to the AI application boom, projecting a 10% year-on-year increase in advanced process packaging revenue for the year [1]. Group 1: Company Operations - The company plans to invest $200 million in large-size fan-out panel packaging (FOPLP) and has already begun equipment installation in the second quarter, with shipments expected by the end of the year [1]. - Advanced packaging and testing revenue is projected to reach $600 million in 2024, accounting for approximately 6% of total packaging revenue, with an additional increase of over $1 billion expected this year [1]. - The company is actively planning a testing facility in the U.S. to meet the complex packaging needs of AI chips, responding to the expansion of clients like NVIDIA [1]. Group 2: Industry Outlook - The semiconductor industry is expected to reach a global market value of $1 trillion by 2030, with the company expressing confidence that this target will be met, even if slightly delayed [2]. - AI is anticipated to drive significant changes in data centers, cloud infrastructure, and robotics, with the company emphasizing the need for Taiwan to enhance its peripheral technologies to capitalize on the upcoming AI robotics market [2].

Investment Rating - The report maintains an "Outperform" rating for the communication industry, indicating an expected performance exceeding the benchmark index by over 10% [1]. Core Insights - Strong performance from companies like Broadcom, Ciena, and Credo is driving optimism in the AI computing sector, with Broadcom reporting a 20% year-over-year revenue increase to $15 billion and a net profit of $5 billion, up 134% [3][16]. - Ciena's latest quarterly revenue reached $1.1 billion, a 24% increase year-over-year, with its network platform business growing by 38% [4][17]. - Credo's revenue for the recent quarter was $170 million, reflecting a 26% quarter-over-quarter growth and a 180% year-over-year increase, with expectations for continued growth in the upcoming fiscal quarter [5][18]. - China Mobile's 2025 ordinary optical cable procurement results show a balanced bidding environment, with a total procurement scale of 3.21 million kilometers, indicating a rational competitive landscape in the domestic optical fiber and cable industry [6][19]. - The satellite internet sector is gaining traction, with companies like Starcloud planning to launch satellites equipped with advanced computing capabilities, highlighting the strategic importance of space computing in the coming years [8][20]. Summary by Sections Industry Dynamics - The report highlights the robust demand for AI semiconductors, with Broadcom's AI revenue growing by 46% to $4.4 billion, and expectations for further growth to $5.1 billion in the next quarter [3][16]. - Ciena's focus on developing pluggable coherent optical modules is indicative of the strong demand for DCI network infrastructure in North America [4][17]. - Credo's expanding customer base and its competitive edge in AEC chip capabilities position it favorably for future growth opportunities [5][18]. Market Performance - The overall market saw an increase during the week of June 2-6, 2025, with the Shenwan Communication Index rising by 5.27% [9][21]. - The top-performing sectors included optical modules, liquid cooling, and connectors, with respective weekly gains of 11.9%, 8.8%, and 7.9% [9][21]. Company Recommendations - The report suggests focusing on companies in various segments, including: - AI computing modules: NewEase, Zhongji Xuchuang, Tianfu Communication, etc. - Optical fiber and cable: Zhongtian Technology, Changfei Fiber Optics, Hengtong Optic-Electric, etc. - Satellite computing: Shanghai Hanxun, Tianyin Machinery, etc. [9][21].

Market Performance - The main board led the gains with notable increases in stocks such as Guangdong Media (+10.04%), Zhongdian Xilong (+10.03%), and Zhongke Shuguang (+10.00%) [1] - The ChiNext board saw significant growth, particularly in Fuchun Co. (+19.97%) and Zhongwen Online (+13.19%) [1] - The Sci-Tech Innovation board was led by Huichan Co. (+12.53%) and Dekeli (+4.47%) [1] - Active sub-industries included SW Publishing (+3.83%) and SW Film and Animation Production (+0.84%) [1] Domestic News - Saifules released the T3 series 0.13-inch full-color MicroLED microdisplay, utilizing its proprietary NPQD® technology for high integration of RGB pixels [1] - A semiconductor packaging project by Siyan Semiconductor has settled in Ezhou, Hubei, with a total investment of 2.5 billion yuan, aiming for a monthly production capacity of 5 million units after the first phase [1] - Junlian Electronics completed nearly 100 million yuan in Series A financing to build a silicon carbide power module production line, showcasing its technological strength in the new energy power system sector [1] - BOE's second phase of the smart terminal project in Vietnam, with a total investment of 2.02 billion yuan, is expected to produce over 14 million TV terminals and more than 5 million electronic paper terminals annually [1] Company Announcements - Sanwang Communication announced a reduction in shareholding by a major shareholder, decreasing from 9.92% to 8.97% after selling 1,053,926 shares [2] - Aoshikang provided a guarantee for its subsidiary's loan application of 8.8 million USD (approximately 63.22 million yuan) [2] - Chip Microelectronics announced a cash dividend of 0.37 yuan per share, totaling approximately 48.57 million yuan [2] - Shijia Photon plans to distribute a cash dividend of 0.6 yuan for every 10 shares, equating to 0.06 yuan per share [2] Industry Insights - AMD's high-end processor solutions are being adopted by ASE Technology for AI data centers, with potential future evaluations for AMD's Instinct MI300 series GPUs [3] - NXP plans to close several 8-inch wafer fabs to shift towards more efficient 12-inch manufacturing, aiming to enhance production efficiency and reduce costs [3] - GlobalFoundries is investing 1.1 billion euros to double the output of its Dresden chip factory, alongside additional investments in its New York and Vermont facilities [3] - Counterpoint Research indicates a 4% year-on-year growth in foldable smartphone sales in Europe for Q1 2025, although they still represent only 1.5% of total smartphone sales in the region [3]

来源：内容来自Source：工商时报 。 如果您希望可以时常见面，欢迎标星收藏哦~ 全球封测产业（OSAT）面临技术升级和产业重组双重挑战，从营收来看，日月光（3711）控股、 Amkor去年维持领先，值得关注的是，长电科技和天水华天等中国大陆封测厂去年营收皆呈双位数 成长，对既有市场构成强大挑战，压力持续到今年。 法人看好，半导体制造链正迎来新一轮扩张趋势，AI驱动先进制程与先进封装需求，同时传统应 用市场逐步复苏，也为产业带来多元化发展机会。 因应陆系封测业者快速崛起，日月光投控、京元电、力成、矽格等，积极强化制程技术量能，包括 异质整合、晶圆级封装、晶圆堆叠、先进测试设备导入，以及AI与边缘运算对高频率、高密度封 装的迫切需求，都成为台湾业者主攻范畴。 业界指出，封装测试技术优劣影响晶片效能与成本。日月光半导体日前推出具备硅通孔（TSV）的 扇出型基板上晶片桥接技术，推动AI技术发展。 京元电规划在台湾以外地区建立生产基地，分散供应链据点，将审慎评估半导体上下游和同业策略 合作机会，以及转投资全球半导体产业，延伸公司触角。 力成持续开发先进封装技术如2.5D及3D IC封装，公司说明，FOPLP技术自2 ...

Core Viewpoint - The semiconductor testing industry is entering a golden era, driven by the increasing complexity of chip designs and the rising demand for high-quality testing, particularly due to AI and high-performance computing (HPC) [1][2] Group 1: Market Dynamics - The collaboration between Taiwanese manufacturers and global foundries and packaging/testing giants presents significant potential for market share expansion [1] - The average selling price (ASP) of probe cards and test sockets is expected to grow significantly due to increased pin counts, higher frequencies, and stricter tolerances [1] - The total addressable market (TAM) for advanced chip testing is expanding, marking it as a structural growth highlight [1] Group 2: Company Performance - High expectations for the earnings compound annual growth rate (CAGR) for 旺矽 (Wangxi) and 颖崴 (Yingwei) are set at 28% and 37% respectively from 2024 to 2027, reflecting structural growth and market share gains [2] - 旺矽 is expected to benefit from increased penetration in the vertical probe card (VPC) market and expansion in MEMS probe card business, with revenue and earnings CAGR projected at 19% and 28% respectively [2] - 颖崴 is actively pursuing entry into the NVIDIA system-level testing (SLT) supply chain and expanding its probe card business, with revenue and earnings CAGR expected to reach 23% and 37% respectively from 2024 to 2027 [2] Group 3: Competitive Advantages - 旺矽 is enhancing its PCB self-sufficiency and shortening delivery cycles, which strengthens its competitive edge [2] - The increasing complexity of chip designs and faster product update cycles are driving frequent upgrades in testing sockets, leading to higher average selling prices [2]

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自经济日报 。 半导体业界流传日本化工巨头旭化成（Asahi KASEI）对客户发出的通知，提到因该公司产能无法 跟上市场需求，将对部分客户断供先进封装关键耗材感光型聚醯亚胺（PSPI），业界忧心恐导致 AI断链危机一触即发。 业界指出，目前没有任何材料能全面替代PSPI在所有先进封装制程中的性能，考量先进封装是AI 芯片生产关键技术，若缺少PSPI导致先进封装产能供给受限，不仅牵动台积电（2330）、日月光 投控、群创等业者先进封装业务接单，进而冲击全球AI产业发展。业界分析，旭化成是全球PSPI 数一数二关键供应商，以封装材料来说，旭化成和HD（杜邦与日立合资公司）居前两大，一旦供 货不足，牵动整个半导体生态。 根据业界人士转述，此次旭化成拟对部分客户断供其PIMEL系列感光材料供应，即PSPI相关产 品，主因AI高速发展，使得算力需求快速增长，对先进封装需求暴增，同步带动PSPI需求劲扬， 该公司产能无法及时跟上市场需求。 业界人士说，旭化成的PSPI材料，在半导体封装领域具有关键应用价值，并广获半导体指标厂采 用，主要用于元件表面保护层、凸块钝化层 ...