Group 1 - Nissan is set to reduce production by 1,400 vehicles at its Kyushu plant due to ongoing chip supply disruptions related to Nexperia [3][4] - Previously, Nissan had anticipated a reduction of approximately 900 vehicles for its popular Rogue SUV model due to the same semiconductor shortage [3][4] - The production adjustments are a response to a 16.5% decline in retail sales in Japan during the first half of the fiscal year, attributed to consumer concerns over the company's financial health [4] Group 2 - Other automakers are also responding to the Nexperia chip shortage, with Volkswagen stating it has secured enough chips for production, while Honda aims to resume normal operations in North America by November 24 [6] - Aumovio, a subsidiary of Continental AG, has received its first batch of Nexperia chips from China [6] - The Dutch government is seeking solutions to the issues surrounding Nexperia, with a delegation expected to visit China for discussions [7][9] Group 3 - The Chinese Ministry of Commerce has expressed a willingness to cooperate with the Netherlands to stabilize the global semiconductor supply chain and hopes for constructive proposals to resolve the Nexperia issue [9]

Core Viewpoint - The article discusses the potential implications of the former TSMC executive, Luo Wei-ren, moving to Intel and the allegations of him taking confidential technology information related to advanced semiconductor processes, which could lead to legal actions if confirmed [1][3]. Group 1: Allegations and Legal Implications - Luo Wei-ren, after retiring from TSMC, reportedly took a significant amount of confidential information regarding 2nm, A16, and A14 process technologies to Intel, raising concerns about potential industrial espionage [1][3]. - TSMC has not yet filed a complaint, and the legal status remains unclear; however, if TSMC does file a complaint, it could lead to investigations similar to previous cases involving TSMC engineers accused of stealing key technologies [3]. - The Taiwanese authorities are currently gathering evidence to determine if any illegal activities occurred, particularly focusing on the potential theft of trade secrets [3]. Group 2: Luo Wei-ren's Background and Contributions - Luo Wei-ren, aged 75, joined TSMC in 2004 and held various senior positions, including Vice President of Operations and Senior Vice President of Corporate Strategy Development, where he significantly contributed to the advancement of TSMC's technology [3][4]. - During his tenure, he led TSMC's technology team to secure over 15,000 patents, establishing a strong foundation for the company's advanced process development [4].

Core Viewpoint - Longtu Photomask (688721.SH) is set to commence production at its Zhuhai factory in the first half of 2025, achieving a significant milestone in transitioning its 90nm node products from R&D to mass production [1] Group 1 - The company has successfully completed the transition of its 90nm node products from research and development to mass production [1] - The critical dimension (CD) control capability has reached ±0.015um, positioning the company among the top tier of independent third-party photomask manufacturers in China [1]

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 11月18日消息，中芯国际表示，该公司的产线非常满，三季度产能利用率达到95.8%，订单 很多，产线供不应求。 四季度指引没有大的跃升的原因之一是手机市场现在存储器特别紧缺，价格也涨得非常厉 害。 据 中芯国际 财报显示，该公司前三季度营收约495.1亿元，同比增加18.2%；归属于上市公 司股东的净利润约38.18亿元，同比大增41.1%；毛利率为 23.2%，同比增长5.6个百分点。 单看第三季度，中芯国际营业收入171.62亿元，环比增长6.9%；实现净利润15.17亿元，同 比增长43.1%；毛利率为25.5%，环比上升4.8个百分点；产能利用率上升至95.8%，环比增 长3.3个百分点。 财报显示，中芯国际的产能利用率进一步提升，从第二季度的92.5%上升至95.8%，折合8英 寸标准逻辑月产产能达到百万片。 整体来看，存储的影响是双向的。对当前是提拉订单，对来年是看不清。据观察，存储供应短缺或过剩 5%就有可能给价格带来成倍的影响。目前行业供应存在缺口，预计高价位态势将持续。 此外，NO ...

Market Overview - The Hong Kong stock market opened lower today, with the Hang Seng Index at 26,172.27 points, down 212.01 points, a decline of 0.80% [1] - The Hang Seng Tech Index reported at 5,684.81 points, down 72.07 points, a decrease of 1.25% [2] Company Performance - XPeng Motors (09868.HK) saw a drop of over 7% in early trading. The company reported total revenue of RMB 20.38 billion for Q3, a year-on-year increase of 101.8%. The net loss attributable to ordinary shareholders was RMB 380 million (USD 50 million), compared to RMB 1.81 billion in the same period last year [4] - Leap Motor (09863.HK) experienced a decline of over 2%. The company announced a net profit of RMB 150 million for Q3 2025, with a total net profit of RMB 180 million for the first three quarters. The gross margin for Q3 was 14.5%, up 0.9 percentage points from Q2 2025, with total vehicle deliveries of 173,852 units and revenue of RMB 19.45 billion, a year-on-year growth of 97.3% [6] - Geely Automobile (00175.HK) reported Q3 2025 revenue of RMB 89.192 billion, a year-on-year increase of 27%. The net profit attributable to shareholders surged by 59% to RMB 3.82 billion [6] Sector Performance - The technology sector saw widespread declines, with Kuaishou, Tencent, NetEase, and Baidu all dropping over 1%. Alibaba opened down over 1% but quickly rebounded [7] - Insurance stocks opened lower, with AIA Group falling over 1%. Gold stocks also retreated, with Chifeng Jilong Gold Mining and Zijin Mining down over 2% [7] - The biopharmaceutical sector showed signs of recovery, with BeiGene and Zai Lab rising over 4%. The semiconductor sector strengthened, with Hua Hong Semiconductor and SMIC both up over 1% [7] Market Outlook - Morgan Stanley has set a mid-to-long-term target for the Hang Seng Index at 27,500 points, with a bullish scenario reaching 34,700 points and a bearish scenario potentially dropping to 18,700 points. This outlook considers potential liquidity improvements, such as the Federal Reserve possibly halting balance sheet reduction in December, along with the anticipated "spring rally" early next year. However, external factors like Federal Reserve policies and U.S. stock market volatility remain significant variables [8]

该行指，中芯国际目前在中国半导体供应链中扮演重要角色，尤其是在国际政策不明朗的情况下。此 外，该公司在新技术节点和平台开发方面取得了稳步进展。其不断提升的竞争力和在专业技术领域的能 力进一步巩固了其作为供应链改革主要受益者的地位。因此，该行将H股的目标市账率从3.0倍上调至 4.0倍。 建银国际表示，中芯国际新晶圆厂产能的加速折旧和摊提将继续影响毛利率，但更高的单位交易率和产 品组合的最佳化可能会缓解这种影响。该行将2025/2026/2027年的盈利预测分别上调19%/4%/9%，主要 原因是毛利率高于预期以及营运支出降低。该行的每股账面价值预测分别上调了0.5%/0.6%/0.9%。 智通财经APP获悉，建银国际发布研报称，将中芯国际H股(00981)目标价由62港元，调高至87港元，维 持"跑赢大市"的投资评级;而中芯国际A股的目标价90元人民币，调高40%至126元人民币，投资评级维 持"中性"。 ...

Group 1 - The core viewpoint of the news is that Hangzhou Lian Microelectronics Co., Ltd. is restructuring its organization to enhance internal management efficiency and operational standardization in response to strategic development needs [1] Group 2 - The company has decided to establish a Power Chip Division to optimize internal management processes and improve operational efficiency, focusing on the core business of power device chips [2] - This new division will be responsible for the overall management of the power device chip business, aiming to integrate resources and enhance market competitiveness [2] Group 3 - The company plans to abolish the supervisory board and amend its articles of association to optimize its governance structure, transitioning from a "shareholders' meeting" to a "shareholders' assembly" [3] - The adjustments are made in accordance with relevant laws and regulations, aiming to improve corporate governance and ensure the protection of shareholders' rights [3]

证券日报网讯 11月17日晚间，立昂微发布公告称，公司于2025年11月17日召开第五届董事会第十三次 会议，审议通过了《关于设立功率芯片事业部的议案》，根据公司发展战略目标，结合公司实际经营情 况，为进一步优化内部组织管理流程，提升管理水平和运营效率，公司设立功率芯片事业部。功率芯片 事业部负责公司功率器件芯片业务板块的整体运营管理。 （文章来源：证券日报） ...

公告称，金瑞泓微电子聚焦12英寸重掺硅片产品的生产，制备出的12英寸重掺系列外延片满足高端功率 器件需求，终端应用于AI服务器不间断电源、储能变流器、充电桩、工业电子、伺服驱动器、以及消 费类电子、汽车电子、家用电器、嵌入式系统和工业控制等领域，市场需求广阔。金瑞泓微电子现有重 掺系列硅片产能爬坡迅速，目前已接近满产，为进一步满足市场需求，尤其是高端功率器件市场急需重 掺砷、重掺磷等系列的厚层、埋层等特殊规格的硅外延片产品需求，金瑞泓微电子本次在现有厂房内建 设"年产180万片12英寸重掺衬底片项目"，系在金瑞泓微电子现有厂房内实施的扩产项目，可与现有"年 产180万片12英寸半导体硅外延片项目"形成上下游配套。本项目实施后，公司将实现新增年产180万片 12英寸重掺衬底片的产能规模，提高公司重掺系列硅片生产能力，优化公司产品结构，提升产品丰富 度，同时可进一步满足集成电路市场需求，提升公司综合竞争力。 智通财经APP讯， 立昂微(605358.SH)发布公告，公司控股子公司金瑞泓微电子(衢州)有 限公司(以下简 称"金瑞泓微电子")与衢州智造新城管理委员会签署《投资协议书》，约定金瑞泓微电子在现有厂房内 建 ...

Core Viewpoint - The company, Lian Micro (605358.SH), announced a significant investment in a new project aimed at enhancing its production capacity for high-end power devices, which is expected to strengthen its competitive position in the market [2] Investment Details - Lian Micro's subsidiary, Jinrui Hong Microelectronics, signed an agreement with the Quzhou Intelligent Manufacturing New City Management Committee to construct a project with an annual production capacity of 1.8 million pieces of 12-inch heavily doped substrate wafers [2] - The total investment for the project is approximately 2.262 billion yuan, with a construction period of about 60 months [2] - The project will be implemented in phases, with an estimated annual investment of around 350 million yuan [2] Market Demand - The project is designed to meet the growing demand in the high-end power device market, indicating a strategic move to capitalize on industry trends [2] - Upon completion, the company will significantly increase its production capacity, adding 1.8 million pieces of 12-inch heavily doped substrate wafers annually [2]