截至2026年1月5日 10:59，上证科创板100指数(000698)强势上涨2.30%，成分股百济神州(688235)上涨 10.56%，成都华微(688709)上涨10.46%，华曙高科(688433)上涨7.57%，华虹公司(688347)，益方生物 (688382)等个股跟涨。科创100ETF华夏(588800)上涨2.36%， 冲击4连涨。最新价报1.39元。 爱建证券指出，国产半导体产业链在国家政策和国际局势的双重推动下正在从下游的制造封测向上游的 核心设备、材料和软件持续突破。看好国产半导体产业链的未来的长期发展，特别是核心环节的核心技 术突破。建议关注国产半导体产业链在第三代半导体材料、算力芯片、射频通信芯片与高宽带存储等领 域的投资机会。 科创100ETF华夏（588800）紧密跟踪的科创100指数，是科创板第一只，也是唯一一只中盘风格指数， 聚焦高成长科创黑马，重点覆盖半导体、医药、新能源三大行业。（场外联接A类：020291/C类： 020292) 早盘半导体产业链震荡拉升，消息面上，华虹公司发布发行股份收购华力微97.5%股权的交易草案，中 微公司披露发行股份及支付现金购买杭州众硅电 ...

格隆汇12月23日丨捷捷微电(300623.SZ)在投资者互动平台表示，公司与中科院微电子研究所、西安电 子科大合作研发以SiC、GaN为代表第三代半导体材料的半导体器件，截至目前，公司拥有氮化镓和碳 化硅相关发明专利5件和实用新型专利6件，此外，公司还有8个发明专利尚在申请受理中。公司目前有 少量碳化硅器件的封测，该系列产品仍在持续研究推进过程中，尚未进入量产阶段。 ...

Group 1 - Guangdong Tianyu Semiconductor Co., Ltd. officially listed on the Hong Kong Stock Exchange on December 5, 2023, with a global offering of 30.0705 million shares at an issue price of HKD 58 per share, raising approximately HKD 1.744 billion [1] - Founded in 2009 and headquartered in Dongguan, China, Tianyu Semiconductor is one of the earliest companies focused on the research and manufacturing of silicon carbide (SiC) epitaxial wafers, with products used in electric vehicles, photovoltaics, energy storage, and rail transportation [1] - The company currently operates a production base of approximately 35,978 square meters in Dongguan, primarily for 6-inch SiC epitaxial wafers, with a new base expected to be operational by the end of 2025 to further enhance production capacity [1] Group 2 - The funds raised from the IPO will primarily be used for expanding overall production capacity over the next five years, including the expansion of 8-inch SiC epitaxial wafers and establishing a production base in Southeast Asia [3] - The company aims to leverage its successful experience in third-generation semiconductor materials to extend its research focus to gallium oxide and other fourth-generation semiconductor developments, with a key investment of 700 million yuan in the industrialization of bonded substrate epitaxy technology [3] Group 3 - Before the IPO, the founders Li Xiguang and Ouyang Zhong controlled approximately 29.05% and 18.21% of the company, respectively, while Huawei Hubble Technology held about 6.57% and BYD held 1.50% [1]

Group 1 - Tianyu Semiconductor announced its Hong Kong IPO plan, intending to issue 30,070,500 H-shares at a price of HKD 58 per share, with trading expected to start on December 5 [1] - The company, founded in 2009 and headquartered in Dongguan, Guangdong, is one of the earliest suppliers focused on silicon carbide (SiC) epitaxial technology in China, with a market share of 30.6% in revenue and 32.5% in volume in the SiC epitaxial market for 2024 [1] - Notable shareholders include Huawei and BYD, with CITIC Securities serving as the sole sponsor for the listing [1] Group 2 - The company received approval from the China Securities Regulatory Commission for overseas issuance and domestic unlisted shares "full circulation" in June, planning to issue up to 46,408,650 overseas listed shares [2] - The Hong Kong listing will provide new financing channels for Tianyu Semiconductor, aiding in capacity expansion and strengthening R&D investment to solidify its market position in the SiC epitaxial field [2]

Core Viewpoint - Samsung Electronics has appointed Lee Tae-won as co-CEO and head of the mobile experience division, marking a return to a co-CEO leadership structure after nearly eight months. This change comes alongside a significant 80% year-on-year increase in operating profit for its semiconductor business, including automotive chips, raising industry interest in the company's future prospects [3][6]. Leadership Transition - Lee Tae-won has been with Samsung since 1997, starting as a research engineer in the mobile communications division. His rise through the ranks has been marked by significant contributions to technology and business strategy, particularly in the competitive smartphone market [4]. - In 2018, he took charge of Samsung's smartphone business, where he successfully optimized the production model for mid-range devices, allowing the company to focus on high-end product development and maintain its position as the largest Android smartphone manufacturer [4][5]. Innovations and Product Development - Under Lee's leadership, Samsung has ventured into the foldable smartphone market, which has become a key growth area. His efforts have transformed foldable phones from concepts into popular market products, contributing to new profit streams for the company [5]. - Lee's recent appointment as co-CEO follows a period of acting leadership where he demonstrated strong management skills and innovation, including the development of Samsung's first tri-fold smartphone, set to launch by the end of the year [5]. Automotive Business Growth - Samsung's automotive chip business has been on the rise, driven by the industry's shift towards smart and connected vehicles. The company has expanded its product offerings to include processors and image sensors, creating a comprehensive automotive chip portfolio [6][7]. - Samsung's chip business is crucial to its overall strategy, with significant advancements in chip design and manufacturing capabilities. The company has secured orders for advanced driving chips from Hyundai and is also producing chips for Nvidia, enhancing its market presence [6][7]. Competitive Advantage and Future Outlook - The appointment of Lee Tae-won signifies Samsung's entry into a dual-driven era of "end devices + chips." The company aims to strengthen its position in high-value automotive electronics, leveraging its technological advantages in chip design and system integration [8]. - As the automotive industry increasingly embraces smart and electric technologies, demand for automotive electronics is expected to grow, positioning Samsung for greater market share and commercial success [8][9]. - Lee's experience in mobile business is anticipated to provide valuable insights for chip product development, fostering an ecosystem where hardware and services work together to enhance user experience [8].

Core Viewpoint - The China Electronic Materials Industry Association has released a group standard for high-purity silicon carbide powder used in crystal growth, marking a significant step in the third-generation semiconductor materials sector in China [1] Group 1: Standard Implementation - The standard, developed by Henan Zhongyi Chuangxin Development Co., in collaboration with domestic research institutions and industry chain enterprises, will officially take effect on November 1 [1] - This standard is the first technical specification in China for silicon carbide powder with a purity level above 6N [1] Group 2: Positive Impacts - Establishing a unified technical specification will enhance the overall technical level of the industry [1] - The standard will reduce verification costs for downstream companies, accelerating the process of domestic substitution [1] - It will strengthen the technological barriers of leading enterprises and optimize the competitive landscape of the industry [1] Group 3: Industry Development - The implementation of the standard is expected to effectively lower technical risks and verification costs in the downstream crystal growth process [1] - It will accelerate the application substitution process of domestic high-purity silicon carbide powder, providing crucial support for the independent and high-quality development of China's third-generation semiconductor industry chain [1]

Core Insights - The semiconductor sputtering target market in China is experiencing rapid growth, with the market size projected to increase from 1.4 billion yuan in 2017 to 2.6 billion yuan in 2024, reflecting a compound annual growth rate (CAGR) of 9.25% [1][9] - The market is expected to reach 3.3 billion yuan by 2026, driven by the expansion of domestic wafer manufacturing capacity, advancements in process technology, and the deepening application of third-generation semiconductor materials [1][9] - The global semiconductor sputtering target market is also expanding, with a projected growth from $4.688 billion in 2018 to $6.269 billion in 2024, and the market size expected to reach $3.26 billion by 2030, with a CAGR of 7.62% [7][8] Industry Overview - Semiconductor sputtering targets are high-purity materials used in the manufacturing of semiconductor chips, essential for physical vapor deposition processes [2] - The industry is characterized by a significant growth potential despite its relatively late start in China, with a focus on domestic production and import substitution [9] Market Structure - The semiconductor sputtering target industry chain includes raw material supply, target preparation, and application, with upstream involving the production of high-purity metals and ceramics [5] - The downstream applications primarily focus on wafer manufacturing and chip packaging, with wafer manufacturing accounting for approximately 61.8% of the market share [8] Competitive Landscape - The global market is dominated by a few international giants such as JX Metals and Honeywell, while domestic companies like Zhongguang Optical and Longhua Technology are gaining traction [10][11] - The competitive structure is tiered, with leading companies holding significant market shares and smaller firms focusing on niche markets [10] Development Trends - The industry is expected to shift towards high-end, refined products, with increasing demands for purity and uniformity in materials as chip manufacturing advances to smaller nodes [13] - Innovations in product types are anticipated, particularly in response to the needs of third-generation semiconductors and emerging storage technologies [14] - The integration of smart manufacturing and green production techniques is projected to enhance efficiency and sustainability in the sputtering target manufacturing process [16]

Key Points - The upcoming exhibitions in November will focus on industrial upgrades and international cooperation, showcasing the vitality of the economy [1] - The 21st China International Coal Mining Technology Exchange and Equipment Exhibition will feature nearly 10,000 exhibits and cover an area of 160,000 square meters [4] - The 2025 China Marine Economy Expo aims to attract over 50,000 professional visitors and will feature 250 leading global enterprises [5] - The 26th China International Education Annual Conference will host 40 professional forums and cover various educational fields [6] - The 2025 World Pharmaceutical Raw Materials Exhibition will see 650 Chinese enterprises participating, with an exhibition area of 160,000 square meters [7] - The 2025 Asia International Logistics Technology and Transportation Systems Exhibition will showcase over 900 exhibitors and focus on smart logistics [8] - The 2025 Electronic Semiconductor Industry Innovation Development Conference will emphasize innovation opportunities in the context of AI and computing power [9] - The 2025 China (Western) International Semiconductor Industry Expo will highlight advancements in semiconductor manufacturing processes and technologies [11]

Core Insights - The global semiconductor industry is undergoing significant changes, with materials playing a crucial strategic role [1] - China, as the second-largest market, is expected to see the scale of key electronic materials exceed 170 billion yuan by 2025, with a year-on-year growth of over 20% [1] - Domestic substitution in sectors like large-size silicon materials, gallium arsenide, indium phosphide, and silicon carbide is entering a "golden window period" [1] Industry Overview - The domestic production rate of semiconductor-grade silicon materials has surpassed 50%, while the production rate of polishing liquids has exceeded 30% [1] - The demand from end markets such as AI computing and new energy vehicles is creating exponential growth opportunities for upstream material companies [1] - Third-generation semiconductor materials, represented by silicon carbide and gallium nitride, are accelerating their application in new energy vehicles and 5G communications, enhancing device performance and energy efficiency [1] Challenges and Recommendations - Despite advancements, the domestic production rates for critical components like 12-inch silicon wafers and high-end photoresists remain low, indicating ongoing uncertainties in the global supply chain [1] - There is an increasing competition for core technologies and talent within the semiconductor materials sector [1] - It is recommended to strengthen basic research and technological innovation in wide bandgap semiconductor materials, such as gallium oxide and two-dimensional materials, to gain a competitive edge in next-generation technologies [2] - Building a more open and inclusive innovation ecosystem is essential, encouraging collaboration among upstream and downstream enterprises for coordinated innovation [2] - Utilizing AI and big data can accelerate material research and industrialization processes, supporting high-quality sustainable development [2]

Core Insights - The semiconductor materials industry in China is at a crucial development stage, with significant growth potential and strategic importance in the global market [4][5] - The historical contributions of Henan province, particularly the establishment of the Luoyang Monocrystalline Silicon Plant in 1966, have been pivotal in the evolution of China's semiconductor materials sector [3] Industry Development History - The Luoyang Monocrystalline Silicon Plant was the first in China to introduce a complete set of technology and equipment from abroad in 1966, marking the beginning of the country's exploration into semiconductor silicon materials [3] - The plant's initial design capacity was 2.4 tons of polysilicon and 1.4 tons of monocrystalline silicon, which has evolved significantly over the decades [3] - By 2005, the Luoyang Zhongzhil High-tech Company achieved an annual production of 300 tons of polysilicon, breaking foreign technology monopolies [3] Current Industry Landscape - The global semiconductor industry is undergoing profound changes, with materials becoming increasingly strategic [4] - The semiconductor materials market is projected to reach $70 billion by 2025, with China's key electronic materials market expected to exceed 170 billion yuan, reflecting a growth of over 20% [4] - The domestic production rate of semiconductor-grade silicon materials has surpassed 50%, while the rate for polishing liquids has exceeded 30% [4] Future Development Directions - Emphasis on strengthening basic research and advanced layout in semiconductor materials, including enhancing the quality and cost competitiveness of silicon-based materials [5] - Encouragement of collaborative innovation across the industry chain, promoting synergy between materials, equipment, and processes [5] - Adoption of green and intelligent trends in material production, focusing on low-carbon transformation and utilizing AI and big data for accelerated R&D [5] - Development of a resilient talent chain to foster innovation and improve the talent cultivation system across the industry [5]