Core Viewpoint - The article highlights the recent submission of a listing application by Hefei Jinghe Integrated Circuit Co., Ltd. to the Hong Kong Stock Exchange, aiming to enhance the domestic semiconductor industry and expand its market presence globally [1]. Group 1: Company Overview - Hefei Jinghe Integrated Circuit Co., Ltd. specializes in semiconductor manufacturing, with products including logic chips, memory chips, and specialty process chips, applicable in smart terminals, automotive electronics, and the Internet of Things [1]. - The company has a strong market competitiveness in the domestic wafer foundry sector, achieving breakthroughs in advanced processes and specialty technologies through continuous R&D and capacity expansion [3]. Group 2: Production Capabilities - The company is recognized as a global leader in 12-inch pure wafer foundry, offering wafer foundry services across process nodes from 150nm to 40nm, and is steadily advancing its 28nm platform [4]. - According to Frost & Sullivan, from 2020 to 2024, the company is projected to have the fastest capacity and revenue growth among the top ten global wafer foundry enterprises, ranking ninth globally and third in mainland China by revenue in 2024 [4]. - The company has established mass production capabilities across technology nodes from 150nm to 40nm, with a diverse process platform that includes DDIC, CIS, PMIC, Logic IC, and MCU technologies, supporting its leading position in key market segments [4]. Group 3: Technological Advancements - The company is enhancing its process technology and optimizing product structure, having commenced trial production of 28nm Logic ICs and initiated risk production of 40nm high-voltage OLED DDICs [4]. - It has achieved mass production of 55nm mid-to-high-end back-illuminated image sensors and 55nm full-process stacked CIS, while steadily advancing the R&D of other 28nm wafer foundry solutions, including OLED DDIC [4].

Group 1 - Hefei Jinghe Integrated Circuit Co., Ltd. has officially submitted its listing application to the Hong Kong Stock Exchange, aiming for a main board listing [1] - The exclusive sponsor for this issuance is China International Capital Corporation (CICC) [1] - Jinghe Integrated Circuit specializes in semiconductor manufacturing, with products including logic chips, memory chips, and specialty process chips, widely used in smart terminals, automotive electronics, and the Internet of Things [3] Group 2 - The company has a strong market competitiveness in the domestic wafer foundry sector, achieving breakthroughs in advanced processes and specialty processes through continuous R&D and capacity expansion [3] - Jinghe Integrated Circuit's core production base is located in Hefei, with a production capacity for 12-inch wafers [3] - The company has been increasing its R&D investment and accelerating the layout of advanced process nodes, particularly in power management chips and display driver chips, establishing a stable customer base and promoting domestic substitution [3] Group 3 - The listing in Hong Kong is expected to help the company broaden its financing channels, enhance capital strength, and accelerate its international strategy, improving its competitive position in the global semiconductor supply chain [3] - The domestic wafer foundry industry is experiencing rapid development opportunities due to the continuous growth in global semiconductor market demand [3] - The company plans to use the funds raised from the listing to further expand production line construction, optimize product structure, and accelerate R&D investment in high-end processes, thereby continuously enhancing its core competitiveness and supporting the self-controllable development of China's semiconductor industry chain [3]

在上海科创板上市的芯片制造公司华虹公司发布公告称，公司正在筹划一项重要交易。 这项交易的主要内容是：华虹公司计划通过发行新股和支付现金的方式，购买上海华力微电子有限公司 的部分股权，同时还会筹集一部分配套资金。 由于此事尚在筹划中，存在不确定性，为了保护投资者利益，公司股票从8月18日（星期一）开盘起暂 停交易。 为何要选择这种方式？ 选择这种"精准拆弹"而非"整体吞并"的方式，很显然是有比较强的考量的。 华力微电子除了和华虹竞争的那部分业务外，很可能还有其他业务，比如更先进芯片工艺的研发，或者 服务于某些特殊客户的产线。 这些业务华虹可能并不需要，或者整合进来反而会带来额外的负担、高昂的成本，甚至管理上的冲突和 文化摩擦。 只买"有竞争关系"的那部分核心资产，大大降低了整合的难度和风险，让交易更可行、效率更高，体现 了管理层的务实态度。 只是，这个"只买特定房间"的操作，难点就在于"分家"这个过程——即公告里说的"标的资产正处于分 立阶段"。把几个"房间"（在这里，是指晶圆厂里特定工艺节点的生产线、设备、技术、人员等）从一 个庞大且精密运行的半导体制造实体（华力微）里完整地、独立地剥离出来，其复杂程度和面临 ...