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新股消息 | 晶合集成递表港交所 营收增长速度位列全球前十大晶圆代工企业首位
智通财经网· 2025-09-29 09:00
智通财经APP获悉,据港交所9月29日披露,合肥晶合集成电路股份有限公司(简称:晶合集成) (688249.SH)向港交所主板提交上市申请书,中金公司为其独家保荐人。 招股书显示,晶合集成是一家全球领先的12英寸纯晶圆代工企业。自2015年成立以来,始终致力于研发 并应用行业先进的工艺,为客户提供覆盖150nm至40nm制程、多种应用的工艺平台晶圆代工业务,并稳 定推进28nm平台发展。 根据弗若斯特沙利文的资料,2020年至2024年期间,全球前十大晶圆代工企业中,晶合集成的产能和营 收增长速度为全球第一。根据同一资料来源,2024年,以营业收入计,晶合集成是全球第九大、中国大 陆第三大晶圆代工企业。 晶合集成已建立150nm至40nm技术节点的量产能力。在工艺平台应用方面,公司已具备DDIC、CIS、 PMIC、Logic IC、MCU等工艺平台的技术能力,形成了全面且多元化的工艺组合,支持其在关键细分市 场的领先地位。 晶合集成战略性立足于半导体价值链的核心,为客户提供将芯片设计转化为低功耗、高性能的代工芯片 的专用平台。通过衔接技术发展与大规模生产,公司提供晶圆代工服务及提供广泛应用于消费电子、汽 车 ...
晶合集成递表港交所 营收增长速度位列全球前十大晶圆代工企业首位
Zhi Tong Cai Jing· 2025-09-29 08:58
招股书显示,晶合集成是一家全球领先的12英寸纯晶圆代工企业。自2015年成立以来,始终致力于研发 并应用行业先进的工艺,为客户提供覆盖150nm至40nm制程、多种应用的工艺平台晶圆代工业务,并稳 定推进28nm平台发展。 根据弗若斯特沙利文的资料,2020年至2024年期间,全球前十大晶圆代工企业中,晶合集成的产能和营 收增长速度为全球第一。根据同一资料来源,2024年,以营业收入计,晶合集成是全球第九大、中国大 陆第三大晶圆代工企业。 据港交所9月29日披露,合肥晶合集成电路股份有限公司(简称:晶合集成)(688249.SH)向港交所主板提交 上市申请书,中金公司(601995)为其独家保荐人。 晶合集成已建立150nm至40nm技术节点的量产能力。在工艺平台应用方面,公司已具备DDIC、CIS、 PMIC、Logic IC、MCU等工艺平台的技术能力,形成了全面且多元化的工艺组合,支持其在关键细分市 场的领先地位。 晶合集成战略性立足于半导体价值链的核心,为客户提供将芯片设计转化为低功耗、高性能的代工芯片 的专用平台。通过衔接技术发展与大规模生产,公司提供晶圆代工服务及提供广泛应用于消费电子、汽 车电子 ...
三丰智能:控股子公司慧昇半导体在半导体领域的研发目前处于持续推进阶段
Zheng Quan Ri Bao Wang· 2025-09-24 08:12
证券日报网讯三丰智能(300276)9月24日在互动平台回答投资者提问时表示,公司控股子公司慧昇半 导体在半导体领域的研发目前处于持续推进阶段。 ...
精测电子(300567):订单大幅增长,半导体业务实现盈利
Changjiang Securities· 2025-09-16 15:34
Investment Rating - The investment rating for the company is "Buy" and it is maintained [8]. Core Views - The company reported significant order growth, with its semiconductor business achieving profitability [6][12]. - In the first half of 2025, the company achieved revenue of 1.381 billion yuan, a year-on-year increase of 23.20%. However, the net profit attributable to the parent company was 28 million yuan, a decrease of 44.48% year-on-year [2][6]. - The company has a total order backlog of approximately 3.609 billion yuan, with 1.823 billion yuan in the semiconductor sector, indicating strong demand [12]. Financial Performance Summary - In H1 2025, revenue from flat panel display, semiconductor, and new energy segments were 671 million yuan, 563 million yuan, and 120 million yuan, with year-on-year growth rates of -13.54%, +146.44%, and +27.32% respectively [12]. - The gross profit margin for H1 2025 was 44.05%, an increase of 1.0 percentage points year-on-year [2][6]. - The company’s R&D investment reached 320 million yuan in H1 2025, accounting for 23.17% of revenue, with a year-on-year increase of 6.31% [12]. Future Outlook - The company expects net profits attributable to the parent company to be 196 million yuan, 318 million yuan, and 590 million yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 104x, 64x, and 35x [12]. - The semiconductor sector is anticipated to become the core driver of the company's performance, with advanced process products increasingly contributing to overall revenue and orders [12].
麦格米特(002851.SZ):主营业务暂不涉及半导体研发的业务范围
Ge Long Hui· 2025-09-16 07:18
格隆汇9月16日丨麦格米特(002851.SZ)在互动平台表示,瞻芯电子是公司供应商之一,也是公司对外股 权投资企业(非公司控股),公司已在多产品中应用第三代半导体部件,但公司主营业务暂不涉及半导 体研发的业务范围。 ...
安利股份:半导体领域目前首批小批量订单已实现量产交付
Ju Chao Zi Xun· 2025-09-03 09:47
Group 1 - The company has achieved small batch production and delivery of its first orders in the semiconductor field after two years of technical development and validation, but this will not significantly impact revenue in the short term [2] - The semiconductor project is considered a strategic reserve category for the company, with a longer R&D cycle influenced by various factors such as product differences, technology paths, customer demands, and industry characteristics [2] - In the automotive interior sector, the company has gained more project opportunities due to high product quality and service responsiveness, leading to an increase in orders [2] Group 2 - The company is actively contacting and expanding new automotive brand clients while consolidating existing partnerships, with more automotive brands and designated projects emerging [2] - Some designated projects in the automotive sector are expected to enter mass production in the second half of 2025 or 2026 [2] - The company has a strong technical level and competitive advantage in automotive interior products, with applications in models from major automotive brands such as BYD, Toyota, and others [2]
【招商电子】中微公司:25Q2利润同比稳健增长,加快研发投入和新品推出节奏
招商电子· 2025-08-29 13:30
Core Viewpoint - The company reported significant revenue growth in Q2 2025, with a focus on increasing R&D investment to accelerate the launch of new products, particularly in etching equipment for advanced process lines [2][3]. Financial Performance - In H1 2025, the company's revenue reached 4.96 billion yuan, a year-on-year increase of 43.9%, while net profit attributable to shareholders was 710 million yuan, up 36.6% year-on-year [2]. - Q2 2025 revenue was 2.79 billion yuan, reflecting a year-on-year growth of 51.3% and a quarter-on-quarter increase of 28.3% [2]. - The gross margin for Q2 was 38.5%, showing a slight year-on-year increase of 0.4 percentage points but a decrease of 3 percentage points quarter-on-quarter [2]. - The company's R&D expenses in H1 2025 amounted to 1.116 billion yuan, a significant increase of 96.7% year-on-year, impacting short-term profit performance [2]. Product Development and Market Position - The revenue from etching equipment in H1 2025 was approximately 3.78 billion yuan, representing a year-on-year increase of 40%, while LPCVD equipment revenue surged to 199 million yuan, up 608% year-on-year [3]. - The company has successfully increased the shipment volume of high-end products for critical etching processes in advanced logic and memory device manufacturing, achieving large-scale production [3]. - The company is progressing well with the validation of new EPI equipment, entering the advanced process and customer validation stages [3]. Investment Recommendation - The company maintains a positive outlook for revenue growth in 2025, 2026, and 2027, with a recommendation to "increase holdings" based on the current performance and future potential [3].
中芯国际销量售价双升 上半年净利润同比增长39.8%
Zheng Quan Shi Bao· 2025-08-28 21:59
Core Insights - SMIC reported a revenue of 32.348 billion yuan for the first half of the year, representing a year-on-year growth of 23.1% [1] - The net profit reached 2.301 billion yuan, up 39.8% year-on-year, while the net profit excluding non-recurring items was 1.904 billion yuan, reflecting a 47.8% increase [1] - The increase in revenue was attributed to a rise in wafer sales volume and average selling prices [1] Group 1: Financial Performance - The number of wafers sold increased by 19.9% from 3.907 million to 4.682 million [1] - The average selling price of wafers rose to 6,482 yuan from 6,171 yuan [1] - Gross margin improved to 21.9%, an increase of 8 percentage points from the previous year's 13.9% [1] - Operating cash flow reached 5.898 billion yuan, a significant increase of 81.7% year-on-year [1] Group 2: Revenue Structure - The consumer electronics sector accounted for the highest revenue share at 40.8%, up 7.4 percentage points year-on-year [2] - The industrial and automotive sectors saw their share rise to 10.1%, an increase of 2.4 percentage points, indicating a rebound in automotive electronics and growth in industrial demand [2] - The smartphone sector's share decreased to 24.6%, down 6.9 percentage points year-on-year [2] - Revenue from 12-inch wafers accounted for 77.1% of total revenue, up from 74.5% in the previous year, indicating a shift towards larger wafer sizes [2] Group 3: R&D and Innovation - R&D expenses totaled 2.375 billion yuan, representing 7.3% of revenue, a decrease from 10.0% in the previous year [3] - As of June 30, 2025, the company had obtained a total of 14,215 authorized patents, including 12,342 invention patents [3] - Key technology platforms are progressing as planned, including advancements in 28nm ultra-low leakage, 40nm embedded flash, and 65nm RF SOI technology [3]
安集科技2025年上半净利润同比大增60% 研发投入持续保持在较高水平
Quan Jing Wang· 2025-08-25 11:43
Core Insights - The company reported a significant increase in revenue and profit for the first half of 2025, with operating income reaching 1.141 billion yuan, a year-on-year growth of 43.17% [1] - Net profit attributable to shareholders soared to 376 million yuan, marking a 60.53% increase compared to the previous year [1] - The company emphasized its focus on product innovation and R&D investment to meet the needs of leading global clients in the integrated circuit manufacturing and advanced packaging sectors [1] Financial Performance - Operating income for the first half of 2025 was 1.141 billion yuan, up 43.17% year-on-year [1] - Net profit attributable to shareholders was 376 million yuan, reflecting a 60.53% increase [1] - Basic earnings per share increased by 60% to 2.24 yuan [1] R&D Investment - The company has consistently increased its R&D expenditure over the past three years, with amounts of 161.36 million yuan, 236.61 million yuan, and 332.77 million yuan respectively [1] - R&D expenses accounted for 17.61% of total revenue over the last three years, with 188.65 million yuan spent in the first half of 2025, representing 16.53% of operating income [1] - The R&D investment in the first half of 2025 grew by 30.50% compared to the same period last year [1] Market Position - The company has made significant progress in acquiring new orders, customers, and applications, leading to an optimized product structure and customer distribution [1] - The market penetration has improved both in depth and breadth, establishing the company as a leading supplier in the domestic high-end semiconductor materials industry [1]
西安奕材IPO:毛利率明显低于同行,“双高”依赖与研发隐忧共存
Sou Hu Cai Jing· 2025-08-11 09:00
Core Viewpoint - Xi'an Yiswei Material Technology Co., Ltd. is the first loss-making company accepted for listing after the "Kebatiaos" policy, drawing significant attention to its listing journey [1] Company Overview - Established in 2016 and headquartered in Xi'an High-tech Zone, the company was formerly known as Beijing Yiswei Technology Co., Ltd. and relocated to Xi'an in 2020 [3] - The core products include 12-inch silicon single crystal polishing wafers and epitaxial wafers, used in manufacturing storage chips, logic chips, image sensors, and power devices, with end markets covering smartphones, data centers, and smart vehicles [3] Industry Context - The semiconductor materials industry is characterized by a duopoly and the rise of new players, with high technical barriers and capacity expansion competition [3] - Five companies, including Shin-Etsu Chemical (Japan) and SUMCO (Japan), dominate 92% of the global 12-inch silicon wafer market, with Shin-Etsu and SUMCO accounting for over 50% [3] Financial Performance - The company's gross margins are significantly lower than its peers, with gross margins of 9.85%, 0.66%, and 5.49% from 2022 to 2024, compared to an average of 30.53%, 24.47%, and 14.91% for comparable companies [4][5] - The company is still in the capacity ramp-up phase, facing high depreciation and expense amortization [5] Future Projections - Xi'an Yiswei expects to achieve profitability after 2027, contingent on increasing the sales proportion of epitaxial wafers to 20%-30% and optimizing capacity utilization [6] - The company anticipates reaching a monthly shipment of 110,000 wafers by 2026 to break even, and 120,000 wafers to become profitable by 2027, based on optimistic assumptions of price stabilization and recovery [6] Customer and Supplier Concentration - The company has a high customer concentration, with the top five customers accounting for over 60% of total sales, which may weaken its negotiating position [8] - Supplier concentration is also high, with the top five suppliers accounting for 58.07%, 56.29%, and 60.67% of total purchases from 2022 to 2024 [8][10] R&D and Technical Workforce - As of 2024, the company has applied for 1,635 patents, with over 80% being invention patents, but shows slow progress in core technology iterations [12] - Approximately 12% of the workforce is dedicated to R&D, with over 50% of R&D personnel being part-time, raising concerns about the stability and continuity of R&D efforts [12][14]