来源：钛媒体 近期，江苏芯德半导体科技股份有限公司（下称"芯德半导体"）提交了招股说明书，拟港股IPO上市。 笔者注意到，芯德半导体自2020年成立以来5年累计"烧掉"14亿元，近三年半合计亏损超13.14亿元，持续未实现盈利，扭亏为盈成为亟待破解的核心难题。 特别要说明的是，芯德半导体99%以上收入依赖的封装产品及测试服务，而该业务却始终陷入"亏本卖"的困境。 债务方面，报告期内流动资产长期低于流动负债，流动比率从0.8逐年下滑至0.5，短期偿债压力极为显著；现金及现金等价物最高仅1.86亿元，却需覆盖高 达5.66亿元的计息借款，资金缺口持续扩大。 持续亏损 芯德半导体是一家半导体封测技术解决方案提供商，主要从事开发封装设计、提供定制封装产品以及封装产品测试服务。 2022年-2024年和2025年1-6月（下称"报告期"），芯德半导体分别实现营业收入26939.9万元、50907.7万元、82737.4万元、47497.5万元，年内亏损分别为 36026.8万元、35889.2万元、37657.8万元、21858.8万元，公司持续在亏损，近三年半合计亏损了近13.14亿元。 | | | 截至12月31日 ...

请问贵公司，摩尔线程、寒武纪合作情况如何？是否进行市值管理的有效措施？贵公司的中高端封测在 哪里体现？ 免责声明：本信息由新浪财经从公开信息中摘录，不构成任何投资建议；新浪财经不保证数据的准确 性，内容仅供参考。 董秘回答(甬矽电子SH688362)： 投资者提问： 尊敬的投资者您好，公司具体客户名称请以公司公开披露信息为准。 公司高度重视市值管理工作，截 至2025年9月30日，公司已完成两次股份回购，累计回购股份5,103,601 股，回购金额累计超过1.2亿元， 以提振市场信心，维护市值稳定。 产品端，公司二期已具备"Bumping+CP+FC+FT"的一站式大turnkey 封测能力，晶圆级封测产品的产能与稼动率持续向好，营收保持快速增长；客户端，公司主要客户为大 陆各细分领域龙头芯片设计公司及台湾地区头部客户，并积极扩展欧美客户。感谢您的关注！查看更多 董秘问答>> ...

Group 1 - The core viewpoint of the article highlights the increasing demand for advanced packaging and testing in the semiconductor industry, driven by memory and AI applications [1][2] - The company, ASE Technology Holding Co., announced two significant real estate transactions to enhance its production capacity, including a purchase of a 72.15% stake in a new factory in Zhongli for NT$42.31 billion [1] - The first transaction involves acquiring a factory in Zhongli, which will be used for advanced packaging and testing, while the second focuses on developing a new facility in Kaohsiung's Nanzih Technology Park, with a shared investment model [2] Group 2 - The Zhongli factory acquisition includes approximately 14,065.17 ping of building area and 2,119.02 ping of land, aimed at expanding the company's high-end packaging testing production lines [1] - The Kaohsiung project will involve a rental base of about 7,533.76 ping, with a total floor area of approximately 26,509.3 ping, and a distribution of rights valued at 3% for ASE and 97% for the partner [2] - The company emphasizes that these expansions will strengthen its advanced packaging and testing capabilities, addressing both short-term AI demand and long-term competitiveness in high-end processes in Taiwan [2]

11月23日，"百万英才汇南粤"2025年N城联动秋季招聘活动（安徽地区高校专场）在合肥工业大学举 办，73家来自东莞、韶关的用人单位共提供近2700个优质岗位。 其中，央企、国企、事业单位、高等学校、研究院所占比例高达33%。面向硕士及以上招聘的岗位2080 个，占比高达77.7%。其中，面向博士招聘岗位252个，岗位薪资普遍较高，年薪20万元以上岗位1071 个、100万元以上岗位4个。 在会场入口处，松山湖材料实验室作为广东省首批省实验室，以其强大的科研平台吸引大量学子驻足。 本次招聘全部40个岗位均要求硕士学位，其设立的博士工作站和博士后科研工作站，为青年科研人才提 供了从入门到成熟的完整成长路径。 高校方面，大湾区大学以其"国际水准、湾区特色"的新型研究型大学定位，吸引众多有志于教育事业的 博士人才。该校此次虽仅招聘6人，但其中两个岗位的年薪高达80万—100万元，体现了对领军型教研人 才的热切渴求。 此外，一批代表大湾区"智造"实力的上市企业和高科技公司也备受青睐。东莞锐信仪器有限公司作为半 导体封测领域的新锐，全部36个岗位面向硕士，年薪24万元左右。广东普赛达材料科技股份有限公司作 为国家级专 ...

Core Viewpoint - The semiconductor market is experiencing robust growth driven by emerging technologies such as AI, 5G, IoT, and automotive electronics, leading to a strong demand for high-performance, low-power chips [1] Industry Overview - The global semiconductor packaging and testing market is projected to grow from 649.4 billion RMB in 2024 to 933 billion RMB by 2029, with a compound annual growth rate (CAGR) of 7.5% [1] - The trend of vertical specialization is deepening within the industry, with more companies adopting a fabless model to focus on complex chip design while outsourcing manufacturing and testing [1] Company Profile - Jiangsu Xinde Semiconductor Technology Co., Ltd. (Xinde Semiconductor) was established in September 2020 and has accumulated significant experience in packaging technology, covering advanced packaging capabilities such as QFN, BGA, LGA, WLP, and 2.5D/3D [2] - Xinde Semiconductor has received recognition from several well-known clients, contributing to its revenue growth, although its profitability remains a concern as it seeks to enter the capital market [2] Financial Performance - Xinde Semiconductor's revenue has shown rapid growth, with figures of 269 million RMB in 2022, 509 million RMB in 2023, and a projected 827 million RMB in 2024, reflecting a strong upward trend [3] - For the first half of this year, the company reported revenue of 475 million RMB, a year-on-year increase of 20% [3] - The majority of Xinde Semiconductor's revenue comes from packaging products and testing services, which accounted for over 99% during the reporting period [4] Revenue Breakdown - The revenue from QFN and BGA products has consistently been the largest, with their respective shares being 31.1% and 31.8% in the first half of 2025 [4] - The company has seen an increase in revenue from LGA and WLP products, with their shares rising from 17.9% and 10.6% in 2022 to 20.1% and 17% in the first half of 2025 [4] Market Position - Xinde Semiconductor ranks seventh in the Chinese general-purpose semiconductor OSAT market, with a market share of approximately 0.6% as of 2024 [8] - The company is one of the few providers in China that has integrated all advanced packaging technologies, positioning itself for growth despite being a newer entrant in the market [3][8] Strategic Initiatives - Xinde Semiconductor plans to strategically expand into overseas markets, targeting regions such as Taiwan, South Korea, Japan, Southeast Asia, the United States, and Germany to establish a solid business foundation [10] - The company aims to enhance its competitive edge through a comprehensive R&D strategy focused on high-performance packaging solutions and innovative technologies [9]

Core Viewpoint - The semiconductor market is experiencing robust growth driven by emerging technologies such as AI, 5G, IoT, and automotive electronics, leading to a strong demand for high-performance, low-power chips [1] Industry Overview - The global semiconductor packaging and testing market is projected to grow from 649.4 billion RMB in 2024 to 933.0 billion RMB by 2029, with a compound annual growth rate (CAGR) of 7.5% [1] - The trend towards vertical specialization in the semiconductor industry is deepening, with more companies adopting a fabless model to focus on complex chip design while outsourcing manufacturing and testing [1] Company Profile - Jiangsu Xinde Semiconductor Technology Co., Ltd. (referred to as "Xinde Semiconductor") was established in September 2020 and has accumulated extensive experience in packaging technology, covering advanced packaging capabilities such as QFN, BGA, LGA, WLP, and 2.5D/3D [2] - Xinde Semiconductor has received recognition from several well-known clients, contributing to its revenue growth [2] Financial Performance - Xinde Semiconductor's revenue has shown rapid growth, with figures of 269 million RMB in 2022, 509 million RMB in 2023, and a projected 827 million RMB in 2024, reflecting a strong upward trend [3] - For the first half of this year, the company's revenue reached 475 million RMB, a year-on-year increase of 20% [3] Revenue Structure - Over 99% of Xinde Semiconductor's revenue comes from packaging products and testing services, with QFN and BGA products being the primary revenue contributors [4] - The revenue share from LGA and WLP products has been increasing, with their respective contributions rising from 17.9% and 10.6% in 2022 to 18.2% and 18.5% in 2024 [4] Market Position - Xinde Semiconductor ranks seventh in the Chinese general-purpose semiconductor OSAT market, holding a market share of approximately 0.6% as of 2024 [8] - The company is the newest player among the top eight competitors in this field, which collectively dominate over 50% of the market share [8] R&D Strategy - The company focuses on R&D as a key strategy to enhance its competitive edge, covering high-performance 2.5D/3D packaging solutions, high-precision optical sensing solutions, automotive-grade packaging technology, innovative glass substrate technology, and iterative development of existing technologies [9] Market Expansion Plans - Xinde Semiconductor plans to strategically expand into overseas markets, targeting regions such as Taiwan, South Korea, Japan, Southeast Asia, the United States, and Germany to establish a solid business foundation [10] - The upcoming listing on the Hong Kong Stock Exchange is expected to attract more attention to Xinde Semiconductor, presenting both opportunities and challenges for the company [10]

日前，国内封测巨头华天科技（002185）（002185.SZ）发布公告，拟将同属华天电子集团旗下的"兄 弟"公司——华羿微电纳入麾下。 然而，光鲜背后，其业绩持续亏损、现金流紧张、存货高企的隐忧难以掩盖。随着监管对半导体企 业"硬科技"成色与持续盈利能力审核的日趋严厉，华羿微电主动撤回上市申请，独立上市之路遇阻。 IPO的失败，意味着资本退出通道的关闭。在此背景下，华天科技的并购预案犹如一场"及时雨"，既为 陷入退出困局的机构投资者提供了解决方案，也为华羿微电自身找到了一个现实的资本化路径。 对华天科技而言，此次整合更是其应对自身业绩承压、谋求业务协同的战略选择。 从独立上市梦碎，到被并购"归位"，华羿微电的路径转换，是部分半导体企业从估值狂欢回归产业理性 的一个缩影。当独立IPO这座"通天塔"难以企及，融入产业龙头的生态圈，正成为一批企业更为务实和 必然的选择。 这起关联交易，表面是一次顺理成章的内部资产整合，但其背后，却清晰勾勒出一家半导体明星企业在 IPO折戟后的战略转向与必然归宿。 仅一年前，华羿微电还行走在独立冲击IPO的征途上。它曾备受资本追捧，估值在半年内飙升至48亿 元，阵容豪华的股东名单为 ...

点击上方 蓝字 关注我们，看更多行业报告 并将 "材料汇" 设为"星标⭐"，第一时间收获最新推送 写在前面 一直在路上，所以停下脚步，只在于分享 分享内容包括： 新 材料/ 半导体 / 新能源/光伏/显示材料 等 正文 1.1 封测的定义、作用与工艺流程 | 图表1:半导体封装工艺流程 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | | 即段操作 | | | | 后段慢作 | | | 晶圆脂频 | 品周切宜 | 芯片贴装 | 焊接货 | 后固化、测试 | 打标 | | | 该步骤指在圆片官 | 该步骤也称划片, | 已切割下来的芯片 | 该先辈主要用于使 | 塑封和后固化工艺指在塑封后加热硬 | 电镀：待营脚成型后，在其表面涂 | | | | | | | | | 包装:根据测试结果 | | 面采用机械或化学 | 先将晶圆粘贴在蓝 | 需要非美到框架中 | 引线孔与引脚相连 | 化并去除管亮周围多余的材料,防止 | 刷防腐材料,避免管脚出现氧化、 | | | 机械方式进行财 | 膜上,再将晶圆切 | 间的焊盘上,若焊 | ，使芯片可以与外 ...

近日，友达光电发布公告称，将L3C厂房及相关附属设施出售给半导体封测企业力成科技。交易总金额68.98 亿元新台币，预计此次可为友达带来约38.5亿 元新台币的收益。 根据公告，友达此次处置资产的主要目的是聚焦轻资产营运模式、活化资产及优化财务结构。 值得关注的是，作为中国台湾地区的面板制造龙头企业，友达光电的业务覆盖LCD与OLED显示面板，产品广泛应用于电视、车载、消费电子等领域，曾在 全球面板市场占据重要位置。但近年来，这家老牌厂商开始频繁调整资产结构，厂房出售已成常态。2024年8月，友达光电就将台南、台中多处厂房卖给存 储巨头美光；今年2月，又把中科后里园区的部分厂房及设施出售给美光。 值得关注的是，友达光电近期的经营业绩正面临压力。根据其近日公布的2025年第三季度财报显示，友达光电该季度合并营业额为699.1亿元新台币，较去 年同期减少10.1%；当季归属母公司业主的净亏损为12.8亿元新台币。 为应对市场变局，友达在今年年中宣布组织调整，董事长彭双浪兼任集团执行长，总经理柯富仁出任营运长，意图强化"显示科技、智能出行、垂直场域"三 大支柱的协同。 ...

Core Viewpoint - The semiconductor packaging and testing industry is currently experiencing stable and improving prices, with the company focusing on high-end packaging and testing services to enhance profitability [1] Company Performance - For the first three quarters of 2025, the company achieved operating revenue of 316,995.50 thousand yuan, representing a year-on-year growth of 24.23% [1] - The net profit attributable to shareholders increased by 48.87% year-on-year [1] Market Outlook - Growth in the IoT, computing, and automotive sectors is expected to further boost the company's profitability [1] - The company anticipates continued revenue growth, which will positively impact profitability through economies of scale [1] Strategic Initiatives - The company plans to increase R&D investment, enhance market development, and focus on cost reduction and efficiency improvement to strengthen core competitiveness [1] - The company aims to effectively manage operations to improve performance and intrinsic value [1]