点击 最 下方 关注《材料汇》 ， 点击"❤"和" "并分享 添加 小编微信 ，寻 志同道合 的你 正文 核心观点 日 交 先进封装:尖端先进封装需求持续增长,Al相关仍为主要驱动 CCH 20 20 1 堆叠互联:FC/WLP/2.5D/3D四大方案助力封装技术迭代结构升维 2备:传统工艺升级&先进技术促前道设备增量 手标的 【 ◎ 提示 ◆ FC/WLP/2.5D/3D四大方案助力封装技术迭代结构升维。（1）FC:信号路径优化、散热性能提升、I/O引脚密度增加 Yole数据,2024Q2 FCBGA营收为23亿美元,环比增长6.8%,同比增长18%。由于人工智能需求的增长以及更多采用 FCBGA的2.5D/3D封装,预计未来几个季度市场将保持健康增长;FCCSP未来两年收入将有所增长,主要原因是存储需求修 正及Al相关需求维持高位。（2）WLP:先在整片晶圆上同时对众多芯片进行封装、测试，最后切割成单个器件，并直接贴装 到基板或PCB上，生产成本大幅降低。根据Yole数据，2029年WLCSP预计规模为24亿美元;FO（含IC基板）预计规模为43 亿美元。（3）多芯片互联:①2.5D:利用CoWoS封装技 ...

Core Viewpoint - Company Qizhong Technology plans to raise up to 850 million yuan through convertible bonds to invest in two projects aimed at enhancing its advanced packaging and testing capabilities for integrated circuits [1][5]. Investment Projects - The total investment for the high-pin-count micro-sized bump packaging and testing project is approximately 41.95 million yuan, with the company planning to use 41.9 million yuan from the raised funds [3]. - The advanced power and flip-chip packaging technology renovation project at Qizhong Technology (Suzhou) has a total investment of about 43.17 million yuan, with 43.1 million yuan expected to be funded from the new issuance [3]. - The combined total investment for both projects is around 85.11 million yuan, with the company intending to utilize 85 million yuan from the fundraising [3]. Business Focus and Market Position - Over half of the raised funds will be allocated to enhance the packaging and testing capacity for non-display chips, which currently contribute less than 10% to the company's revenue in 2024 [5]. - Qizhong Technology is one of the few domestic firms capable of large-scale production of various bump manufacturing technologies and has maintained a leading position in advanced packaging technology [6]. - The company reported a projected revenue of nearly 2 billion yuan in 2024, with its display driver chip packaging business expected to sell 1.845 billion units, generating 1.758 billion yuan in revenue, ranking third globally in this sector [6]. Financial Performance and Stock Status - Since its IPO in April 2023, Qizhong Technology's stock has underperformed, trading below its initial offering price of 12.1 yuan per share, with a notable drop to around 8 yuan [9]. - The company has experienced a decline in net profit, reporting 313 million yuan in 2024, a decrease of 15.71% year-on-year, attributed to rising costs such as equipment depreciation and employee compensation [10]. - The company plans to repurchase shares at a price not exceeding 16.61 yuan per share, with a total repurchase amount between 75 million and 150 million yuan [9].

点击 最 下方 关注《材料汇》 ， 点击"❤"和" "并分享 添加 小编微信 ，寻 志同道合 的你 正文 珍惜有限 创造无限 1.1 半导体产业在全球经济中发挥关键作用，计算和存储、汽车、无线通信是主要增量 图表1：全球半导体产业链的倒金字塔结构 年产值 娱乐、软件、网络、电商、传媒、大数据等数字经济产业, 几十万亿美元 电子系统 万亿美元 千亿美元 材料(1%) 500亿美元+ 封装(5%) EDA 190亿美元+ n *括号内百分数表示2024年YoY 资料来源：ESD Al l iance，SEM ， Yol e，TrendForce，Wind，弗若斯特沙利文，江 苏半导体行业协会，五矿证券研究所 图表2:全球半导体市场规模周期性波动上升(亿美元) 2021-2030 - 10000 2021-2030 CAGR 7% 8000 智诗西献 -5% 育线电 960 消费电子 -10% 工业电力 1310 ~10% 6000 1470 上 -20% 12 370 4000 线遇信 200 25% 6 1720 2000 3610 -25% 计算和存储 2240 0 2025E 2030E 1990年 199 ...

Core Viewpoint - The company plans to raise funds through a private placement of shares to enhance its core competitiveness and support the development of semiconductor equipment, with a total fundraising target of up to 313,203.05 million RMB [1][2]. Fundraising Plan - The company intends to issue no more than 188,648,115 shares, raising funds primarily for a "semiconductor equipment R&D project" and to supplement working capital [1][2]. - The total investment for the semiconductor equipment R&D project is estimated at 383,958.72 million RMB, with 219,243.05 million RMB expected to come from the raised funds [12]. Background and Purpose of Fundraising - The integrated circuit industry is a strategic and foundational sector for national security and economic development, with significant growth potential driven by domestic and international market demands [2][3]. - National policies strongly support the development of the integrated circuit industry, recognizing it as a key area for enhancing national strategic technological capabilities [3][4]. Market Trends and Opportunities - The semiconductor equipment market is expected to grow significantly, with global semiconductor sales projected to reach 626 billion USD in 2024, a year-on-year increase of 18% [4][11]. - The demand for semiconductor equipment is driven by advancements in AI, automotive electronics, and 5G technologies, which are expanding the market for chips and related equipment [4][11]. Company’s Competitive Position - The company has established a strong technical foundation in integrated circuit testing equipment, with over 50% of its workforce dedicated to R&D [9]. - The company has developed core technologies in testing machines and AOI equipment, positioning itself to meet the growing demand for domestic semiconductor equipment [9][10]. Investment Project Details - The semiconductor equipment R&D project aims to develop testing machines and AOI equipment, enhancing the company's product line and meeting diverse market needs [8][10]. - The project is supported by favorable national policies and the company's existing technical capabilities, ensuring its feasibility and alignment with industry trends [9][10]. Financial Impact - The fundraising will improve the company's financial structure, reduce debt risk, and support ongoing business expansion and R&D efforts [12][13]. - While there may be short-term dilution of earnings per share due to increased share capital, the long-term benefits from the investment projects are expected to enhance overall profitability [14].

"钢铁、水泥、电力构建起我们新的站台。我们希望这站台不仅仅是标准的站台，而是像哈利波特里面 的 9 站台。这个站台是通往AI魔法世界的站台，人人手上都有魔杖，这个魔杖就像大模型，随时可以 念咒语。"他表示。 主流判断认为，随着人工智能的演进，需要共创共建新一代的群体智能。这将开启协同化的人工智能新 范式。 北京大学国际机器学习研究中心研究员袁坤博士认为，当前，单体智能系统（Stand-Alone System）已 发展成熟，并在此基础上演化出多智能体系统（Multi-Agent System）。这类系统通过智能体间的信息 交互展现出更强大的集体智能，其典型应用包括社交网络、机器人集群和物联网系统等。将这一范式迁 移至大模型领域，通过基座模型微调或蒸馏生成专家模型，再经由专家模型间的"社交学习+自适应学 习"机制，最终可演化出具有更高智能水平的群体智能系统。 "世纪互联本质上是一家做连接站台的公司。未来的AIDC，应该是进入AGI魔法世界的9 站台。"这是世 纪互联创始人陈升对这家美股IDC公司的战略新锚定。第五届中国IDC行业DISCOVERY大会暨第二届 GIIC（GPU Infrastructure In ...

半导体 半导体 2025 年 06 月 23 日 投资评级：看好（维持） 行业走势图 -38% -19% 0% 19% 38% 58% 77% 2024-06 2024-10 2025-02 半导体 沪深300 数据来源：聚源 相关研究报告 《半导体行业月度点评：下游回暖， 景气度改善可期—行业点评报告》 -2025.4.27 《关税反制政策落地，模拟芯片国产 化进程有望加速—行业点评报告》 -2025.4.7 《下游需求回暖+市场流动性注入，看 好 SoC 板块机会—行业点评报告》 -2024.10.9 半导体材料跟踪点评：盛合晶微进入辅导验收阶段， 关注先进封装材料投资机会 ——行业点评报告 陈蓉芳（分析师） 陈瑜熙（分析师） chenrongfang@kysec.cn 证书编号：S0790524120002 chenyuxi@kysec.cn 证书编号：S0790525020003 国产高端半导体封测龙头盛合晶微 IPO 进入辅导验收阶段 行 业 研 究 据证监会披露平台显示，盛合晶微 IPO 辅导状态变更为辅导验收。盛合晶微是 国内高端半导体封测龙头，核心业务聚焦中段硅片制造和三维集成先进封装环 节。 ...

Core Viewpoint - The article discusses UMC's potential acquisition of a factory from Han Yu Crystal in Tainan Science Park, emphasizing the company's strategic focus on expanding advanced packaging capabilities in Taiwan and Singapore [1][3]. Group 1: Company Strategy - UMC is exploring opportunities for operational and profit enhancement, including factory acquisitions, technology collaborations, and new investments, with Taiwan remaining a key expansion option [3][5]. - The company plans to integrate wafer fabrication with advanced packaging solutions, moving beyond traditional foundry services to high-value areas [4][5]. Group 2: Technological Development - UMC has established 2.5D advanced packaging capabilities in Singapore and is leveraging wafer-to-wafer bonding technology, which is crucial for 3D IC manufacturing [4][5]. - The company is currently focused on 12nm process technology in collaboration with Intel, while also looking to diversify into compound semiconductors and specialized materials [4][5]. Group 3: Production Capacity - UMC's interposer production currently stands at approximately 6,000 units per month, with no immediate plans for capacity expansion [5]. - Future efforts will concentrate on developing integrated technologies with higher added value, providing comprehensive system-level solutions for clients [5].

Core Viewpoint - The demand for advanced packaging continues to grow, driven primarily by AI-related applications [3][30]. Group 1: Advanced Packaging Demand - The advanced packaging market is expected to grow from $39 billion in 2023 to $80 billion by 2029, with a compound annual growth rate (CAGR) of 12.7% [12]. - The 2.5D/3D packaging segment is projected to grow at a CAGR of 20.9% over the next five years, becoming a key driver for market expansion [12]. - Advanced packaging shipments are anticipated to rise from 70.9 billion units in 2023 to 97.6 billion units by 2029, with a CAGR of 5.5% [15]. Group 2: Technology and Equipment - Four main advanced packaging technologies—FC, WLP, 2.5D, and 3D—are facilitating the evolution of packaging technology [5][7]. - The global advanced packaging equipment market is expected to reach $3.1 billion in 2024, marking a historical high [5]. - The demand for etching, thin film deposition, and plating equipment is rapidly increasing due to advancements in packaging technology [5]. Group 3: Market Dynamics - The semiconductor industry is experiencing a downturn in 2023, impacting the advanced packaging market, which saw a year-on-year decline of 3.5% [12]. - The recovery in specific end markets and the ongoing application of advanced packaging technology are expected to sustain healthy growth in the coming years [15]. - AI applications are driving long-term growth in semiconductor revenues, with the AI-related semiconductor market projected to grow at a CAGR of 28.9% from 2024 to 2033 [27]. Group 4: Investment Opportunities - Companies such as ASMPT, North Huachuang, and Zhongwei Company are recommended for investment due to their breakthroughs in niche areas of the domestic equipment market [5]. - Major packaging projects are underway or planned, with total investments amounting to approximately $100 billion [29].

今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | PET铜箔 | 2.09 | 可燃冰 | -4.14 | | 光刻胶 | 1.45 | 脑机接口 | -3.34 | | BC电池 | 1.13 | 短剧游戏 | -3.07 | | 钙钛矿电池 | 1.06 | 智谱AI | -3.06 | | 航运概念 | 1.02 | 快手概念 | -2.99 | | 白酒概念 | 0.83 | MLOps概念 | -2.97 | | 兵装重组概念 | 0.80 | 华为盘古 | -2.80 | | 先进封装 | 0.79 | 财税数字化 | -2.79 | | 石墨电极 | 0.65 | 云办公 | -2.66 | | 低辐射玻璃(Low-E) | 0.64 | 小红书概念 | -2.53 | 资金面上看，今日脑机接口概念板块获主力资金净流出5.46亿元，其中，23股获主力资金净流出，7股 主力资金净流出超3000万元，净流出资金居首的是汉威科技，今日主力资金净流出1.33亿元，净流出资 金居前的还有创新医疗、汤姆猫、诚 ...

赛升药业 龙虎榜显示，今日2家机构净买入5749万。 控股子公司君元药业有熊去氧胆酸片，具备相关剂型生产条件 一、固态电池 科恒股份 龙虎榜机构热股 今天机构龙虎榜上榜28只个股，净买入16只，净卖出13只。当日机构买入最多的个股前三位是：利民股份（7516万）、赛升 药业（7178万）、海科新源（3708万）。 | 上榜热股 | | 实时涨跌幅 , 买/卖家数 , 机构净买额 , | | | --- | --- | --- | --- | | 利民股份 002734.SZ | -9.98% | 2/1 | +1.05亿 | | 塞升药业 300485.SZ | +19.97% | 2/0 | +5749.85万 | | 海科新源 301292.SZ | +20.00% | 2/0 | +3708.96万 | | 3日 | | | | 二、光刻胶 强力新材 个股龙虎榜 公司是全球PCB光刻胶的主要材料供应商；旗下LCD光刻胶打破了巴斯夫等跨国公司对该类产品的垄断，填补了国内空白 肯特催化 个股龙虎榜 太蓝新能源研发的首款车规级全固态锂金属电池中，其正极材料采用了长循环富锂锰基材料；公司富锂锰基正极材料是根据 ...