12月24日，外交部发言人林剑主持例行记者会。 法新社记者提问，美国贸易代表调查结果称"中国实行了不公平的措施，企图主导半导体产业"，美国拟自2027 年起对中国半导体产业加征关税。中方对此有何评论？ 林剑表示，中方坚决反对美方滥施关税、无理打压中国产业。美方的做法扰乱全球产供链稳定，阻碍各国半导 体产业的发展，损人害己。 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 看券商中国 知天下财经 F "我们敦促美方尽快纠正错误做法，以两国元首达成的重要共识为引领，在平等、尊重、互惠的基础上，通过 对话解决各自关切，妥善管控分歧，维护中美关系稳定健康可持续发展。如 ...

◎邱思雨 记者 操子怡 从0到1搭建产业根基——17年前，先锋精科董事长游利携600万元启动资金归国，在本无半导体产业基 因的江苏泰州创办了先锋精科，叩开"芯"领域的大门； 从1到100实现跨越式成长——如今，先锋精科已是全球少数能量产7纳米及以下国产刻蚀设备关键零部 件的制造商，市值超百亿元。 传统制造业之城如何盛开新兴产业之花？在"0到100"之间又藏着怎样的发展密码？从游利对上海证券报 记者反复强调的企业追求中或许能看到答案："高质量发展下核心竞争力的提升。" 先锋精科车间 当前，国内半导体行业普遍将目光聚焦于7纳米以下的高制程领域，但高制程产品的开发之路，远比成 熟制程更具挑战——洁净度、工艺稳定性等关键指标，都需要通过大量试验才能达标。 火种落地：在传统制造之城播撒"芯"希望 "团队早年长期深耕精密制造领域，对国内外行业动态和发展趋势有着敏锐嗅觉。"游利说，2008年成立 的先锋精科，从一开始就带着"精密制造"的基因，"我们曾在新加坡涉足航空制造与半导体制造两个领 域，这两个领域都是精密制造的标杆，也让团队积累了深刻的行业认知"。 为何最终选择了半导体？游利说，在市场化机制与国家政策的双重驱动下，半 ...

Group 1 - The European Commission has approved a €623 million ($729.16 million) aid package from the German government to support the construction of two semiconductor manufacturing plants in Germany [1][2] - The aid consists of two grants, valued at €495 million and €128 million, respectively [1][2] - The larger grant will be provided to GlobalFoundries, a semiconductor foundry that manufactures semiconductor devices for other companies [2] - The second grant will be allocated to X-FAB to support the construction of a new open foundry at its existing site in Erfurt, Germany [2] Group 2 - The European Commission stated that these measures will promote economic activity in Europe and that the facilities will be pioneering [2] - The Commission also noted that these initiatives will have a broader positive impact on the European semiconductor ecosystem [2]

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 台积电11月销售额3,436.1亿元台币，同比增长24.5％。 风险提示及免责条款 ...

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]