尽管宏观经济不确定性加剧，但台湾晶圆代工厂台积电仍维持其先进封装投资计划。这是基于中长 期内AI半导体需求将保持强劲的预期而制定的战略。 有评估和预测称，各大存储器公司的HBM （高带宽存储器）业务也 缓解了市场对供应过剩的担忧。 据业界21日消息称，由于全球大型科技公司持续投资AI加速器，预计今年三星电子、SK海力士等 厂商的HBM需求仍将保持强劲。 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容编译自zdnet，谢谢。 此前，台积电17日在第一季度财报电话会议上宣布，今年资本支出（CapEx）为380亿美元至420 亿美元。近期，受中国DeepSearch等低成本、高效率AI模型的出现以及美国的关税压力等影响， AI基础设施投资的不确定性有所增加，但去年宣布的计划仍得以维持。 台 积 电 解 释 称 ， " 虽 然 情 况 较 之 前 有 所 改 善 ， 但 AI 需 求 仍 然 超 过 供 应 ， 需 要 大 幅 扩 大 设 施 产 能"，"我们没有观察到客户在管控和地缘政治问题方面的行为有任何变化，因此我们将维持现有的 需求"。 台积电预计，2024年至2029年间，AI加速器相关销售额的复合年 ...

Core Viewpoint - The company reported significant growth in revenue and net profit for the fiscal year 2024, driven by a recovery in the global semiconductor market and increased demand in various sectors, including consumer electronics and automotive electronics [1][2]. Financial Performance - The company achieved operating revenue of 9.249 billion yuan, a year-on-year increase of 27.69% [1] - The net profit attributable to shareholders was 533 million yuan, up 151.78% year-on-year [1] - The net profit excluding non-recurring items reached 394 million yuan, reflecting a substantial growth of 736.77% [1] Business Operations - The company maintains a high capacity utilization rate and has a robust order book [2] - Main business revenue was 9.12 billion yuan, with revenue contributions from various process nodes: 55nm (9.85%), 90nm (47.84%), 110nm (26.84%), and 150nm (15.46%) [2] - Revenue from application products showed significant contributions from DDIC (67.50%), CIS (17.26%), PMIC (8.80%), MCU (2.47%), and Logic (3.76%), with CIS becoming the second-largest product line [2] Research and Development - The company invested 1.284 billion yuan in R&D, a 21.41% increase year-on-year, representing 13.88% of total revenue [2] - The company obtained 249 new invention patents and 76 utility model patents during the reporting period, bringing the total to 1,003 patents [2] - Successful R&D advancements include mass production of 55nm BSI and stacked CIS chips, small batch production of 40nm OLED display driver chips, and functional verification of 28nm logic chips [3] Future Outlook - The company plans to optimize process flows, enhance product quality, and expand into emerging product areas such as AI and automotive chips [3] - There is a commitment to strengthen collaboration with existing clients and explore new markets to increase market share and competitiveness [3]

Market Overview - Global markets showed mixed performance, with the Hang Seng Index rising by 1.51% and the S&P 500 declining by 1.57% [1][3] - The Hang Seng Tech Index outperformed with a 3.79% increase year-to-date [1] Industry Insights Internet Industry - Companies with defensive attributes and those benefiting from domestic demand are expected to perform well under current market conditions [4] - Recommended stocks include NetEase (NTES US) and Tencent Music (TME US) for their growth potential in gaming and music sectors [4] - Ctrip (TCOM US) and Meituan (3690 HK) are highlighted for their resilience in domestic and outbound travel demand [4] Semiconductor Industry - The U.S. has announced "reciprocal tariffs," which may lead to additional tariffs on the semiconductor sector [5] - The trend towards domestic substitution in China's semiconductor industry is expected to accelerate, benefiting companies like Huahong Semiconductor (1347 HK) and North Huachuang (002371 CH) [5] - Investors are advised to focus on companies with strong domestic replacement capabilities, especially in AI and analog semiconductor sectors [5] Insurance Industry - Recent regulatory changes allow for an increase in equity investment limits for insurance funds, potentially injecting an estimated CNY 1.66 trillion into the stock market [6][7] - The new regulations raise the equity asset allocation limit to 50%, which could significantly enhance the investment capacity of insurance companies [6][7] - The core equity assets of listed insurance companies are expected to increase, reflecting a shift towards higher-yielding stocks in a low-interest-rate environment [8] Engineering Machinery Industry - Strong sales growth in excavators and wheel loaders was reported, with domestic sales increasing by 29% and 23% year-on-year, respectively [8] - Companies like SANY Heavy Industry (600031 CH) and Zoomlion (1157 HK) are recommended due to their strong market positions and sales performance [8] Company Analysis Zhejiang Dingli (603338 CH) - The company faces challenges due to new U.S. tariffs, which could significantly impact its revenue, as the U.S. market accounts for nearly 30% of its total income [9][10] - The rating has been downgraded to "Hold" with a target price of CNY 51, reflecting concerns over future profitability [9][10] Focus Stocks - Recommended stocks include Geely Automobile (175 HK), Xpeng Motors (XPEV US), and Tencent (700 HK), all showing significant upside potential based on current valuations [11]

来源：内容来自联合报，谢谢。 联电（2330）今(1)日宣布在新加坡举行扩建新厂开幕典礼，新厂第一期将自2026年开始量产，将 使联电新加坡Fab 12i厂总产能提升至每年超过100万片12吋晶圆。联电并强调这座新厂也将成为 新加坡最先进的半导体晶圆代工厂之一，提供用于通讯、物联网(IoT)、车用和人工智能(AI)创新 领域的半导体芯片。 联电新加坡厂今日举行开幕典礼，与会贵宾包括新加坡副总理兼贸易与工业部长颜金勇、新加坡国 务资政兼国家安全统筹部长张志贤、新加坡贸易与工业部常任秘书马宣仁、新加坡经济发展局 (EDB)局长黎佳明，及新加坡裕廊集团(JTC)助理总裁黄慧燕也出席共襄盛举。 联电表示，位于新加坡白沙晶圆科技园区的全新扩建计划分为两期，第一期的总投资金额为50亿 美元，月产能规划为3万片，并为未来投资计划预留第二期的空间。新厂将提供领先业界的22纳米 和28纳米制程技术，是目前新加坡半导体产业最先进的晶圆代工制程，将为全球客户提供高阶智 能型手机显示芯片、物联网装置使用的高效能记忆体芯片及下世代通讯芯片。此次扩建将在未来几 年为当地创造约700个就业机会，包含制程、设备及研发工程师等高科技人才。 联 ...

3月27日晚间，国内晶圆代工领先企业中芯国际发布2024年年度报告。报告期内，公司实现营业收入人 民币577.96亿元，同比增长27.7%；同期实现归属于上市公司股东的净利润36.99亿元，同比下滑 23.3%；毛利率18%，产能利用率85.6%；截至2024年末，公司总资产约人民币3534亿元，折合8英寸标 准逻辑月产能达到94.8万片。 以地区分类，2024年中国区、美国区和欧亚区业务占主营业务收入比例分别为84.6%、12.4%和3.0%； 2023年相应占比分别为80.1%、16.4%和3.5%。 从地域发展情况看，中芯国际认为，为加强半导体供应链便利，近地产业链建设已成为全球各国各地区 发展半导体产业的大趋势。从中国内地的产业建设情况来看，现有集成电路产业在芯片设计、晶圆代工 产能规模、工艺技术能力、封装技术等领域与实际市场需求仍不匹配。我国作为全球最大的半导体消费 市场之一，现阶段的半导体需求仍一定程度地依赖进口，国内产业链的上下游企业与全球头部企业在技 术与规模化程度上仍存在较大差距，面临诸多挑战。随着新一轮科技创新举措的推动，行业具备较大的 成长空间。 对于经营计划，中芯国际阐述，2025年初 ...

Core Viewpoint - NVIDIA's next-generation Rubin AI architecture will utilize the company's first SoIC packaging, indicating a significant shift in the hardware market with the integration of advanced components like HBM4 [1][5] Group 1: SoIC Packaging Development - TSMC is rapidly constructing factories in Taiwan to shift focus from advanced packaging (CoWoS) to SoIC, with expectations for NVIDIA, AMD, and Apple to release next-generation solutions based on this design [1][2] - SoIC allows for the integration of different chips, reducing internal circuit layout space and lowering costs, with AMD being an early adopter and Apple expected to follow with its M5 chip [2][3] - TSMC's SoIC production capacity is projected to reach 15,000 to 20,000 wafers by the end of this year, with plans to double that capacity next year [2][6] Group 2: NVIDIA's Rubin Architecture - The Rubin GPU will separate the GPU and I/O die, utilizing N3P and N5B processes respectively, and will integrate these components using SoIC packaging [2][5] - The Vera Rubin NVL144 platform is expected to deliver up to 50 PFLOPS of FP4 performance with 288 GB of HBM4 memory, while the NVL576 will provide up to 100 PFLOPS and 1 TB of HBM4e capacity [5] Group 3: Workforce and Production Adjustments - TSMC plans to adjust its workforce from 8-inch fabs to support advanced packaging facilities, aiming to recruit 8,000 new employees this year to reach a target of 100,000 [3] - The company is actively preparing for the integration of SoIC technology, which is seen as crucial for future developments in semiconductor packaging [3][6]

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自工商时报，谢谢。 传川普4月2日宣布实施对等关税时，可能排除汽车、芯片等一系列特定产业，台系半导体得到片刻 喘息，花旗环球证券同时间重磅升评，一口气将联电、世界投资评等调高到「买进」，加上对台积 电维持正面看法，全面看多台系晶圆代工三强。 晶圆代工龙头台积电股价10日收盘跌破千元大关后，尚未重返千金宝座，24日开高走低，终场收平 盘972元，惟外资回头买超千张；反观原本较不获法人青睐的联电、世界，最近虽处震荡格局，股价 从2月就开始反弹，与台积电走势两样情。 台积电宣布于美国扩厂，及英特尔任命新任执行长，花旗环球注意到，投资人仍怀忧虑。不过，台 积电短期展望、长期前景均稳健，料任何潜在合资企业均不会改变先进半导体产业格局。 花旗环球证券台湾区研究部主管陈佳仪指出，AI、高效能运算（HPC）成半导体产业主要成长动 能，其他领域需求也逐步回温，改善整体产业前景。此外，如PMIC、WiFi-7、10G PON等产品规 格升级，及边缘AI设备渗透率提升，将刺激半导体市场成长。 花旗环球认为，70％的产能利用率就是成熟制程晶圆代工的景气谷底。晶圆代工二哥联电第一季 ...

以下文章来源于半导体产业洞察 ，作者YUKI 半导体产业洞察 . 专注半导体领域原创内容 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容 来自半导体芯闻综合 ，谢谢。 据悉，三星电子正与博通（Broadcom）合作开发被称为"光半导体"的硅光子（Silicon Photonics） 相关技术。硅光子技术通过将半导体间的数据通信方式从电信号转换为光信号，使数据处理速度提 升至10倍以上，因此被视为下一代晶圆代工（Foundry）制造的关键工艺技术。全球晶圆代工龙头 台积电（TSMC）计划在今年下半年将该技术应用于英伟达（NVIDIA）的人工智能（AI）加速器 生产。 据业内消息，三星电子正与博通合作，目标是在两年内实现硅光子技术的量产和商业化。尽管三星 电子也在与英伟达等企业商讨技术落地事宜，但与博通的合作进度最为领先。 一位半导体行业人士表示："台积电比三星电子更早开始硅光子技术的研发。博通在去年年初提出联 合开发的提案后，三星电子迅速作出应对。目前来看，三星电子与博通的合作进展最快。" 三星电子计划借助与博通的紧密合作，加快下一代晶圆代工工艺的开发。博通在无线通信和光通信 半导体领域具有强大实力，其无 ...

Core Viewpoint - SBI Holdings has terminated its partnership with Powerchip Semiconductor Manufacturing Corporation (PSMC) for the construction of a semiconductor fab in Miyagi Prefecture, Japan, and is now seeking collaboration with United Microelectronics Corporation (UMC) and SK Hynix for the same project [2]. Group 1: SBI Holdings and Semiconductor Factory Plans - SBI Holdings announced the cancellation of its collaboration with PSMC on September 27, 2024, but will continue with the plan to build the semiconductor factory in Miyagi [2]. - The Miyagi fab will be developed in two phases, with the first phase expected to start production in 2027, targeting a monthly capacity of 10,000 12-inch wafers for 40nm and 55nm chips [2]. - The second phase is projected to begin production in 2029, expanding the product range to include 28nm chips and utilizing Wafer-on-Wafer (WoW) technology, with a full capacity of 40,000 wafers per month [2]. Group 2: UMC's Financial Performance - UMC reported a consolidated revenue of NT$18.193 billion in February, a decrease of 8.15% month-over-month, marking the lowest level in nearly eight months, but still a year-on-year increase of 4.25% [4]. - The cumulative revenue for the first two months reached NT$38 billion, reflecting a year-on-year growth of 4.21%, also the second-highest for the same period since 2022 [4]. - UMC anticipates that its wafer shipment volume will stabilize compared to the fourth quarter of the previous year, with a capacity utilization rate around 70% [4]. Group 3: Future Outlook for UMC - UMC has noted strong customer interest in upgrading to the 22nm special process platform, which offers significant advantages in power consumption and performance over the 28nm process, aimed at next-generation communication technologies and display driver ICs [5]. - The company is accelerating the production of 22nm products, expecting them to contribute significantly to revenue starting in 2025 [5]. - Key expansion projects are progressing as planned, including a third fab in Singapore to enhance supply chain resilience and a collaboration with U.S. partners to develop a 12nm process platform to meet customer demands for upgrades below 22nm [5].

5、 《 AI浪潮下先进工艺重塑稀缺地位》摘 要 ■ 截至2024年底，中芯国际合计产能 42.1万片/月（等效12吋） ，为中国大陆技术最先进、规模最 大、配套服务最完善的晶圆代工企业。 1 、 《 2025年两会前瞻 》摘要 ■ 15个省下调经济增长目标 ，占全国GDP 31.8%，全国加权平均目标 5.3% （2024年目标5.4%）。 ■ 专项债支持算力、新兴产业设备、智能化改造、省级产业园区等，专项债可作为资本金比例提高至 30% 。 ■ 各省确保科技投入增速，上海设定R&D支出占GDP 4.5%目标，陕西、内蒙古等地亦加大财政科技 投入。 ■ 土地市场仍低迷，但政府可能通过收储存量商品房、城中村改造等方式，部分一二线城市房地产市 场可能迎来政策支持。 ■ 拖欠民营企业账款问题受高度重视 ，2月17日民企座谈会后，政府加快清欠进度，地方专项债或用 于解决相关问题。 2、 《 DeepSeek助推AI产业变革》摘要 ■ 2025年初， DeepSeek R1模型跻身全球顶尖大模型行列 ，用户增长迅猛，引发资本市场对AI产业 格局的重新审视。 ■ 10家云计算巨头+12家智算公司 已接入DeepSeek ...