国家创新中心（NIC）副主任武春淮表示，NIC承诺通过务实、长期的合作举措与河内国家大学紧 密同行，共同推进半导体人力资源发展。NIC将加强支持河内国家大学和半导体联盟与领先企业的对 接，推动科研合作、技术转让，实施符合国际标准和满足产业实际需求的人才培养计划。 英特尔产品越南公司总经理谢凯文认为，要实现半导体产业可持续发展，需要为学生提供科学、技 术、工程和数学领域基础而广泛的知识。此外，国家、学校与企业三方紧密联动是推动越南半导体产业 高效发展的关键。 东京大学副教授黎德英表示，越南当前对半导体人才的需求十分迫切，要满足这一需求，国际合作 至关重要。必须深化与半导体产业发达国家对接合作，才能打牢基础、提升人才培养质量。企业参与人 才培养与科研同样不可或缺，不仅有助于提供实践机会，还将支持人才培养、技术转让，推动高质 量"越南制造"半导体产品的诞生。 （原标题：河内国家大学发起成立半导体联盟） 越通社11月28日报道，河内国家大学11月27日举行半导体联盟成立发布仪式暨"加强合作以促进半 导体领域培训与研究"研讨会，旨在紧密对接人才培养、科研工作与企业界，构建开放生态系统，推动 高素质人力资源发展及形成"越 ...

Core Viewpoint - The 22nd China International Semiconductor Expo (IC China 2025) is being held in Beijing, focusing on collaborative innovation across the entire semiconductor industry chain, aiming to promote global industrial chain cooperation [2] Group 1: Industry Insights - The theme of the expo is "Gathering Strength in Chips, Driving the Future," emphasizing the importance of collaboration and innovation within the semiconductor industry [2] - The global semiconductor industry is undergoing significant adjustments, presenting important development opportunities for China's semiconductor sector [2] - Chinese semiconductor materials, equipment, and technologies have transitioned from "catching up" to "keeping pace" with international standards, showcasing competitiveness in various niche areas [2] Group 2: Company Developments - Jiangfeng Electronics, represented by its Party Secretary and Chief Engineer Wang Xueze, highlighted the company's latest breakthroughs and R&D achievements in advanced processes during the expo [2] - Jiangfeng Electronics is committed to increasing R&D investment and enhancing its innovation system to provide higher quality products and solutions for the global semiconductor industry [2] - The company participated in the "7th Global IC Entrepreneurs Conference," where Wang Xueze delivered a keynote speech on the rapid iteration of the semiconductor industry [2]

Group 1 - The A-share market is experiencing a surge in investment interest in the semiconductor sector, particularly with the entry of "cross-border players" [1] - Companies like Hunan Heshun Petroleum and Dream Home are planning acquisitions to gain control over semiconductor firms, indicating a trend of cross-industry investment [1] - Internal players in the semiconductor industry are also engaging in capital operations for technological enhancement and vertical integration, as seen with Shenzhen Yintang and Suzhou Su Dawei Ge [1] Group 2 - Companies such as Chipone Microelectronics and Hunan Guokewei are initiating mergers and acquisitions across various core areas of the semiconductor industry, highlighting a clear trend of industry consolidation [2] - The vertical integration of industry chain enterprises is expected to optimize the structure and enhance the overall efficiency and competitiveness of China's semiconductor industry [2] - A number of domestic semiconductor companies are accelerating their entry into the capital market, with several IPOs being approved or registered in November [2] Group 3 - The investment enthusiasm in listed companies reflects the significant development potential and strategic value of the semiconductor industry [3] - The global semiconductor market is projected to reach 43.71 trillion yuan by 2024 and grow to 65.48 trillion yuan by 2029, while China's market is expected to reach 16.02 trillion yuan in 2024 and 28.13 trillion yuan by 2029 [3] - Future development in the semiconductor industry will see deeper specialization in segments like design, manufacturing, and testing, driven by actual demand in automotive electronics and IoT [3]

Investment Rating - The report maintains an "Overweight" rating for the technology sector, indicating an expectation for the sector's stock index to outperform the benchmark [2]. Core Insights - Vietnam is poised to become the next semiconductor hub in Southeast Asia, driven by open industrial policies and significant foreign investments from companies like Samsung and Foxconn [4][5]. - The semiconductor packaging and testing sector is currently a hot investment area, with several factories already established by major players such as Intel and Amkor [6]. - The Vietnamese government is actively supporting the semiconductor industry, with plans for the first wafer foundry to be completed by 2027 [7]. Summary by Sections Section 1: Industrial Policy and Investment - Vietnam's open industrial policies have attracted various electronic manufacturing companies to set up operations, leading to a clustering effect in the industry [5]. - As of 2024, the average wage in Hanoi has reached 2,790 RMB/month, which, despite rising costs, continues to attract investment for supply chain resilience [5]. Section 2: Semiconductor Industry Development - The semiconductor industry in Vietnam is still in its early stages, focusing primarily on packaging and testing processes [6]. - Currently, there are eight semiconductor packaging and testing factories in Vietnam, with plans for local companies to establish their own facilities [6]. Section 3: Government Support and Future Plans - The Vietnamese government has outlined a strategic plan for the semiconductor industry, aiming to establish the first wafer foundry by 2030 and train 15,000 chip design engineers by 2050 [7]. - Viettel, the largest telecom operator in Vietnam, is responsible for the investment in this project, with government support of approximately $500 million [7]. Section 4: Apple's Supply Chain Diversification - Apple has been diversifying its supply chain since 2018, with Vietnam and India emerging as key production bases outside of China [9]. - By FY2025, Vietnam is expected to account for 10-15% of iPhone production, alongside significant contributions to iPad and Mac production [10][11].

Core Viewpoint - SMIC's fourth-quarter revenue guidance indicates flat or 2% growth, reflecting cautious customer behavior in planning for the upcoming year [1] Group 1: Revenue Guidance - The fourth-quarter revenue guidance is expected to be flat or show a 2% increase, with no significant quarter-on-quarter leap [1] - This cautious outlook is attributed to customers adjusting shipment volumes in preparation for next year's plans [1] Group 2: Production Capacity - Despite the flat revenue guidance, the company's production lines are operating at a high capacity utilization rate of 95.8% in the third quarter, indicating strong demand and a supply-constrained situation [1] Group 3: Market Conditions - The smartphone market is experiencing a severe shortage of memory chips, leading to significant price increases, which raises concerns for customers about assembling complete devices [1] - In the networking and communication sector, customers are placing orders more cautiously in the fourth quarter, fearing excess inventory, while market orders are shifting to competitors [1]

Core Insights - The conference held in Foshan focused on exploring new paths for the semiconductor industry, emphasizing the need for collaboration among production enterprises, experts, and research institutions to tackle challenges in high-end equipment manufacturing [1][2] Group 1: Industry Development - The conference was co-hosted by the Guangdong Semiconductor Equipment and Components Society and the Jihua Laboratory, gathering experts and industry representatives to discuss the semiconductor industry's future [1] - Cao Jianlin, the chairman of Jihua Laboratory, highlighted the importance of three teams: "equipment teams," "manufacturing teams," and "key technology R&D teams" for creating competitive ultra-precision equipment [1] - Lei Zhenlin, chairman of the China Integrated Circuit Components Innovation Alliance, analyzed the global integrated circuit industry landscape and proposed development suggestions to overcome domestic equipment industry bottlenecks [1] Group 2: Collaborative Platform - The conference aimed to create a platform for high-level academic exchange, industry-academia-research collaboration, and efficient results transformation, striving to elevate the industry chain from "catching up" to "leading" [1] - The event featured participation from renowned universities and research platforms, emphasizing the importance of substantial resource linkage within the industry [2] - A member unit display area was established to facilitate efficient connections between upstream and downstream enterprises in the semiconductor industry, contributing to the development of a new regional semiconductor ecosystem [2]

Core Insights - SMIC's co-CEO Zhao Haijun expects the company's annual sales revenue to exceed $9 billion, marking a new milestone for revenue scale [2] - The company reported a 9.9% year-on-year increase in revenue for Q3 2025, with a net profit growth of 43.1% [5] - Despite a seasonal slowdown in Q4, the company maintains a supply-demand imbalance, indicating continued strong performance [2] Financial Performance - In Q3 2025, SMIC's revenue reached 171.62 billion RMB, with a year-on-year growth of 9.9% and a net profit of 15.17 billion RMB, up 43.1% [5] - For the first three quarters of 2025, total revenue was 495.10 billion RMB, reflecting an 18.2% increase year-on-year, while net profit grew by 41.1% to 38.18 billion RMB [5] - The gross margin for Q3 2025 was 25.5%, up 4 percentage points year-on-year, and the gross margin for the first three quarters was 23.2%, an increase of 5.6 percentage points [5] Market Performance - As of November 14, SMIC's A-share price slightly declined by 0.89%, with a market capitalization of 649.5 billion RMB [5][6] - The stock's performance reflects a broader market sentiment, with a notable premium of -44.65% in the Hong Kong market compared to A-shares [6]

Core Viewpoint - Vietnam is actively positioning itself in the global semiconductor supply chain by planning to establish its first semiconductor manufacturing plant by 2026, reflecting its ambition in the industry [2][4]. Group 1: National Strategy and Development Plans - Vietnam has released a national semiconductor industry development strategy extending to 2030, with a vision towards 2050, which includes a talent cultivation plan and a list of 11 strategic technologies and products [4]. - The government aims to have the first semiconductor production base operational by next year, which will require increased international support in funding, human resource training, technology transfer, and administrative management [4]. Group 2: Challenges and Recommendations - SEMI leaders highlighted potential challenges Vietnam may face in its technological growth and urged the government to accelerate reforms, simplify administrative processes, and promote the use of English in professional and regulatory fields [4]. - To ensure the successful development of the semiconductor industry, Vietnam needs to secure reliable clean energy supplies and build robust digital infrastructure [4]. Group 3: Industry Composition and Education - Vietnam currently has over 50 chip design companies employing around 7,000 engineers, with about 15 companies involved in chip packaging, testing, and semiconductor equipment production, employing approximately 6,600 engineers and over 10,000 technicians [5]. - The country has established standardized semiconductor education programs, with 166 universities offering related majors and over 6,300 undergraduates majoring in semiconductors, alongside more than 12,000 students studying related fields [5]. Group 4: Foreign Investment and Future Opportunities - As of August 2025, Vietnam has around 170 foreign direct investment projects in the semiconductor and high-tech sectors, with a total registered capital of nearly $11.6 billion [5]. - These initiatives indicate that Vietnam is actively laying the groundwork for its semiconductor industry, aiming to secure a place in the global chip supply chain, with the upcoming establishment of its first semiconductor manufacturing plant expected to bring new development opportunities [5].

Core Insights - The 2025 SEMI Expo Vietnam is the largest international semiconductor exhibition in Vietnam, emphasizing the country's ambition in the semiconductor industry [1][2] - Vietnam aims to enhance public-private partnerships and attract foreign investment in high-value segments like chip design and advanced packaging [1] - The event reflects Vietnam's commitment to innovation and international cooperation amidst global supply chain competition [1] Group 1: Event Overview - The SEMI Expo Vietnam 2025 is attended by approximately 5,000 participants, including government officials, international semiconductor associations, and major global companies [1] - The theme of the exhibition is "Igniting Vietnam's Semiconductor Ambition," highlighting the significance of the event [1] Group 2: Industry Potential - Vietnam is increasingly seen as an ideal destination for semiconductor investment due to its political stability, sustained economic growth, and a young, creative workforce [2] - The country currently has over 50 integrated circuit design companies, with 15 firms employing around 7,000 engineers and over 10,000 technical personnel in semiconductor packaging, testing, and production [2] Group 3: Major Players and Investments - Major global companies like Samsung, Intel, and Foxconn are expanding their investments and production in Vietnam, indicating the country's competitive advantages in cost-effectiveness, production efficiency, and product quality [2] - Top technology groups such as NVIDIA, Qualcomm, and Micron have chosen Vietnam as a strategic base for semiconductor chip research and factory construction [2]

Core Viewpoint - Vietnam aims to establish its first semiconductor manufacturing plant by 2026, highlighting its ambition to secure a position in the global chip supply chain [2][4]. Group 1: Government Initiatives - The Vietnamese government has set a long-term vision to become a high-income economy by 2045, with the semiconductor industry as a strategic pillar for this model [4]. - A national semiconductor industry development strategy has been released, targeting 2030 and looking ahead to 2050, alongside a talent cultivation plan [4][5]. - The government plans to establish a national one-stop investment office to streamline administrative processes for foreign investors [5]. Group 2: Industry Development - Vietnam currently has over 50 chip design companies employing around 7,000 engineers, with approximately 15 companies involved in chip packaging and testing [5]. - As of August 2025, Vietnam has about 170 foreign direct investment projects in the semiconductor and high-tech sectors, with a total registered capital of nearly $11.6 billion [6]. Group 3: Education and Workforce - There are 166 universities offering semiconductor-related programs, with over 6,300 undergraduate students majoring in this field and an additional 12,000 students studying related areas [6]. - The country has developed standardized semiconductor education curricula to support workforce development [6]. Group 4: International Collaboration - The government seeks international support in funding, human resource training, technology transfer, and administrative management to establish the semiconductor production base [5]. - SEMI leaders have urged the Vietnamese government to accelerate reforms and simplify administrative procedures to foster a technology-driven growth path [5].