文 | 张冰冰 编辑 | 阿至 36氪获悉，镓创未来半导体科技（晋江）有限公司（以下简称「镓创未来」）近日宣布完成千万级天使轮融资，投资方包括聚卓资本--晋江人才科创基 金、芯丰泽半导体和个人投资人，资金将用于外延片产能提升，加速第四代半导体材料的产业化落地进程。 「镓创未来」成立于2025年7月，专注于第四代超宽禁带半导体材料——氧化镓外延片研发与产业化，目前已具备异质外延片小批量生产能力。公司创始 人团队均为微电子学与固体电子学博士，2015年开始投身于宽禁带半导体碳化硅和氧化镓材料与器件研究，在材料外延生长、掺杂及器件制备等全产业链 环节积累了近10年的经验。 「镓创未来」核心产品是氧化镓外延片系列，包括氧化镓同质外延片以及异质外延片产品线，涵盖蓝宝石基、碳化硅基和硅基氧化镓外延片，可以满足不 同应用场景的需求。目前已与二十余家科研机构建立合作关系，与多家半导体客户签订采购合同。 一、异质外延+自研设备，破解氧化镓产业化痛点 碳化硅、氮化镓为代表的第三代半导体材料已获广泛关注并实现应用突破。随着高功率器件性能需求的持续提升，氧化镓凭借超宽禁带、高击穿电场等优 势，被视为理想的第四代功率半导体材料。 "氧 ...

Group 1 - The A-share market in China experienced a significant increase on October 29, with major indices closing in the green, marking a ten-year high for the Shanghai Composite Index, which closed at 4016 points, up 0.7% [1] - The Shenzhen Component Index closed at 13691 points, up 1.95%, and the ChiNext Index closed at 3324 points, up 2.93% [1] - The total trading volume in the Shanghai and Shenzhen markets reached approximately 22.56 billion RMB, an increase of about 1.082 billion RMB compared to the previous trading day [1] Group 2 - The "14th Five-Year Plan" emphasizes significant improvements in self-reliance in technology, with a focus on enhancing the overall effectiveness of the national innovation system and fostering a development pattern that integrates education, technology, and talent [2] - Key sectors such as lithium mining, fourth-generation semiconductors, quantum technology, and superconductivity saw notable gains, with respective increases of 4.02%, 2.9%, 2.88%, and 2.7% [2]

Core Insights - The article emphasizes the consensus in the industry that the competition in AI is now closely tied to an energy revolution, highlighting the critical issues of energy consumption and computing power [1] - It notes that the demand for computing power in AI has surged by a million times over the past decade, leading to a significant increase in GPU power consumption [1] - By 2026, global data centers are projected to consume electricity equivalent to Japan's annual usage, underscoring the urgency of addressing energy efficiency in AI [1] Industry Developments - The Shenzhen Pingshan Laboratory, a key player in the third-generation semiconductor sector, showcased multiple core technological achievements at the 2025 Bay Area Semiconductor Industry Expo [1][4] - The laboratory focuses on device physics, materials research, technology development, and pilot testing for third and fourth-generation semiconductor materials [2] - It has established a comprehensive R&D and industrialization capability, including research, pilot testing, analysis, and results transformation centers [2] Technological Breakthroughs - The laboratory has achieved significant advancements in substrate processing, including a breakthrough in silicon carbide (SiC) laser stripping technology, which has reduced costs by 26% and improved efficiency [2][7] - It has developed high-performance SiC planar gate MOSFET devices and made strides in GaN epitaxy technology for high-voltage applications [7] - The laboratory is also addressing challenges in power semiconductor technology, focusing on enhancing power density and device reliability by 2026 and 2027 [8] Strategic Goals - The laboratory aims to bridge the gap between research and industrial application, addressing the "pilot production valley of death" that many companies face in transitioning from research to mass production [11][12] - It has built the world's first open shared platform for 8-inch power semiconductors, equipped with over 380 advanced devices [12] - The laboratory has already collaborated with over 30 partners and 10 pilot customers, indicating its role in fostering industry development [12] Future Outlook - The laboratory's director expressed optimism about the next 4-5 years being a critical period for the international market, with opportunities for China to gain a competitive edge in the global third-generation semiconductor landscape [13]

Group 1 - The Shenzhen Comprehensive Platform has achieved significant breakthroughs in substrate and epitaxy technologies, including advancements in SiC planar and trench gate technologies, as well as GaN epitaxy and device technologies [1][2] - The platform has successfully implemented silicon carbide laser stripping technology, achieving a total loss of less than 75 microns for 8-inch wafers, with a cutting time of 20 minutes and a cost reduction of 26%, leading to international leading overall performance [1] - The platform has developed the first multifunctional wide bandgap materials and high-voltage power device characterization system, utilizing domestic materials to produce the first aluminum nitride/ aluminum gallium nitride HMET device in China [1] Group 2 - Power semiconductors, represented by SiC and GaN, are crucial materials for modern power electronics and RF devices, with significant potential in high-voltage, high-frequency, and high-power applications [2] - Since 2021, Shenzhen has been tasked with constructing the National Third Generation Semiconductor Technology Innovation Center, which includes the establishment of the Shenzhen Pingshan Laboratory as the operational entity [2] - The Shenzhen Comprehensive Platform is the world's first open shared platform for 8-inch advanced power semiconductors, equipped with comprehensive R&D and industrialization capabilities [2] Group 3 - The ongoing 2025 Bay Area Semiconductor Industry Ecosystem Expo serves as an important platform for industry organizations to announce new achievements [3] - At the expo, the Shenzhen Comprehensive Platform signed cooperation agreements with 14 industry chain partners in various fields, enhancing the industrial ecosystem and accelerating the transformation of technological achievements [3] - The signing and unveiling of the National Third Generation Semiconductor Technology Innovation Center EDA Design Public Platform marks its official launch [3]

Core Viewpoint - The market is currently in a bullish phase, showing stable upward momentum and positive expectations, with a main trend of steady growth in the A-share market if no "black swan" events occur [1] Market Performance - After initial fluctuations due to event-driven factors, the market stabilized on Wednesday, demonstrating a strong upward trend in the afternoon [1] - There is a diversification of market hotspots, with sectors like automotive, aviation, and airports leading the gains, indicating a rotation of investment interest [1] - Strong performance continues in previously dominant sectors such as power grid equipment, robotic actuators, and fourth-generation semiconductors, highlighting the ongoing attractiveness of technology [1] Future Outlook - The market is expected to maintain a strong oscillating pattern, with existing mainstream hotspots continuing while also expanding into new areas [1] - Attention should be paid to the upcoming third-quarter macroeconomic data, including new credit, household savings, investment, consumption, and GDP growth rates [1] - As companies begin to disclose their third-quarter reports, there will be opportunities to focus on stocks that exceed performance expectations [1]

Core Insights - Guokui Electronics has firmly established itself in Kunshan since 2000, focusing on the vacuum electronic device sector and has built three production bases in the area [2][3] - The company emphasizes a philosophy of "not leaving Kunshan, not leaving the main business," which has guided its steady growth and development [2][4] - The local government's support has been crucial for the company's initial funding and ongoing success, contributing to Kunshan's transformation into an industrial hub [3][4] Company Strategy - Guokui Electronics aims to become a "chain leader" in the vacuum electronic platform, linking upstream and downstream industries to foster a collaborative ecosystem [5][6] - The company is committed to high-end, diversified, and international strategies, focusing on high-end manufacturing sectors such as semiconductors and aerospace [5][7] - The firm is actively expanding its product matrix to include customized solutions for various applications, including new energy vehicles and industrial inspection [5][6] Technological Development - Guokui Electronics is dedicated to independent research and development to master core technologies and support the localization of high-end electronic vacuum devices [4][7] - The company has made significant progress in cutting-edge fields like controllable nuclear fusion and fourth-generation semiconductors, leveraging its existing technological expertise [7][8] - The firm has already achieved milestones in controllable nuclear fusion, with its self-developed P-band high-power tube being utilized in significant projects [7][8] Future Outlook - The company aspires to lead in the semiconductor and new energy vehicle sectors, aiming to become a benchmark in the global vacuum electronic device industry [8] - Guokui Electronics envisions contributing to the domestic and global advancement of high-end manufacturing, with a goal to be one of the leaders in the global vacuum electronic device market [8]

Core Insights - Guokui Electronics has firmly established itself in Kunshan since 2000, focusing on the vacuum electronic device sector and becoming a well-known player in China's electronic components industry [2][3] Company Development - The company has built three production bases in Kunshan and has been led by Chairman Yin Jianping, who has deep roots in the region since 1985 [2] - Guokui Electronics emphasizes the principle of "not leaving Kunshan, not leaving the main business," which has guided its steady growth [2][3] Business Strategy - The company is committed to "high-end, diversified, and international" strategies, focusing on technological innovation as its core driving force [5] - In the high-end sector, Guokui Electronics targets semiconductor equipment, aerospace, and new energy, aiming to overcome technical bottlenecks in core products [6] - The diversification strategy involves expanding its product matrix to cover various applications, including new energy vehicles and industrial inspection [6][8] Industry Positioning - Guokui Electronics aims to become a "chain leader" in the vacuum electronic platform industry, linking upstream and downstream partners to foster a collaborative ecosystem [5][6] - The company is also positioning itself as a key supplier in emerging fields such as controllable nuclear fusion and fourth-generation semiconductors, leveraging its core technologies [8] Future Outlook - The company has achieved preliminary results in controllable nuclear fusion, with its self-developed P-band high-power rapid-tuning tube already applied in significant projects [8] - Guokui Electronics aspires to be a global leader in the vacuum electronic device market, supporting China's high-end manufacturing and contributing to the industry's localization and globalization [9]

Core Viewpoint - The 2025 Bay Area Semiconductor Industry Ecological Expo will be held in Shenzhen from October 15, featuring over 600 participating companies and highlighting the latest semiconductor equipment from New Kai Lai. The event will also showcase the semiconductor industry cluster centered around the Luoshan Technology Park in Longgang District, Shenzhen [1]. Group 1: Luoshan Technology Park Overview - Luoshan Technology Park is a key semiconductor and integrated circuit industry cluster in Shenzhen, covering an area of 138 hectares with a total construction area of approximately 1.23 million square meters [2]. - The park aims to address the "bottleneck" issues hindering the development of the semiconductor and integrated circuit industry, integrating production, education, and research [2]. - Major projects within the park include the Luoshan International Innovation Center, Industry Cluster Center, and International Exchange Service Center, all designed to meet world-class standards [2]. Group 2: Project Details - The Luoshan International Innovation Center will occupy about 11 hectares with a total construction area of approximately 170,000 square meters, designed to accommodate around 5,000 R&D personnel [4]. - The Industry Cluster Center will cover 6 hectares with a total area of about 180,000 square meters, aimed at attracting and nurturing upstream and downstream enterprises in the semiconductor and integrated circuit industry, with a capacity for approximately 6,000 R&D personnel [5]. - The International Exchange Service Center will also span 11 hectares, providing various support services including R&D offices, accommodations, and conference facilities [5]. Group 3: Development Progress - The main construction of Luoshan Technology Park is over 90% complete, with full delivery expected by the end of 2026 [7]. - A dedicated "Longgang District Semiconductor and Integrated Circuit Ecological Promotion Center" will be established to enhance the development of the semiconductor and integrated circuit industry [7]. Group 4: Shenzhen Pinghu Laboratory - The Shenzhen Pinghu Laboratory, part of the National Third-Generation Semiconductor Technology Innovation Center, has completed domestic verification for 123 pieces of equipment, achieving a 99.2% completion rate for equipment localization [13]. - The laboratory focuses on third-generation semiconductor device physics, materials research, and technology development, aiming to become a leading platform for research and innovation in the field [10][12]. - Future research will also include fourth-generation semiconductors, targeting disruptive materials for applications in electric vehicles, smart grids, and aerospace [15].

Group 1 - The Ministry of Commerce stated that China's export control on rare earths is not a ban, and applications that meet regulations will be permitted [1] - The Ministry of Commerce expressed that high tariffs imposed by the U.S. are not the correct approach to engage with China, emphasizing that China is unwilling to fight but is not afraid to do so [1] - The Ministry of Commerce urged the U.S. to reconsider its actions regarding the 301 investigation into China's shipbuilding industry and to seek solutions through equal consultation and cooperation [1] Group 2 - The Ministry of Industry and Information Technology and six other departments released a plan to promote service-oriented manufacturing innovation from 2025 to 2028, focusing on enhancing new information infrastructure and the integration of 5G and industrial internet [3] - The Ministry of Housing and Urban-Rural Development reported that the approval amount for loans on the national whitelist projects has exceeded 7 trillion yuan, effectively supporting the construction and delivery of commercial housing projects [4] Group 3 - The China Securities Regulatory Commission announced adjustments to the margin trading and securities lending ratios for certain stocks, effective from October 13 [9] - Semiconductor companies like SMIC and Baidu Storage saw their margin trading ratios adjusted to 70% and 50%, respectively [9] Group 4 - Qualcomm is under investigation by China's market regulator for failing to legally declare its acquisition of Autotalks, which may violate the Anti-Monopoly Law [10] - The National Tobacco Monopoly Administration is conducting a disciplinary review and investigation into its deputy director for serious violations [11] Group 5 - Companies such as SystImmune and Bristol-Myers Squibb have triggered a milestone payment of $250 million due to their collaboration [13] - Mingyang Smart Energy plans to invest 14.21 billion yuan to establish the UK's first integrated wind turbine manufacturing base in Scotland [13] Group 6 - Several companies reported significant increases in net profits for the first three quarters, including Northern Rare Earth with a projected increase of 273%-287% [14] - Allwinner Technology expects a net profit increase of 213%-307% in the third quarter [14] Group 7 - The U.S. stock market saw declines, with the Dow Jones falling by 1.9% and the Nasdaq dropping by 3.56%, marking the largest single-day drop since April [20] - Gold prices reached a historical high, surpassing $4,060 per ounce, with domestic gold jewelry prices exceeding 1,180 yuan per gram [21]

Group 1 - The Ministry of Housing and Urban-Rural Development will collaborate with relevant departments to formulate supporting documents to implement the spirit of the Central Urban Work Conference [1] - The Ministry of Industry and Information Technology is conducting commercial trials for satellite IoT services [1] - In September, the number of new accounts reached 2.9372 million, representing a year-on-year increase of 60.73% [1] Group 2 - The logistics demand continues to improve, with the logistics industry prosperity index in September showing a month-on-month rebound [1] - The Shanghai government is accelerating the cultivation of industries such as silicon photonics, 6G, fourth-generation semiconductors, and brain-like intelligence [1] - The Ministry of Transport will impose special port service fees on American vessels [1]