Core Viewpoint - Hanmi Semiconductor's chairman refuted the notion of shifting to hybrid bonding systems for HBM4 and HBM5 production, emphasizing the high costs and inefficiency of such equipment compared to traditional TC bonders [1][2]. Group 1: Market Position and Strategy - Hanmi Semiconductor holds the number one market share in the global HBM TC Bonder market, with a 90% share of the NVIDIA HBM3E market as of 2024, aiming for a 95% share in the HBM4 and HBM5 markets by the end of 2027 [1]. - The company plans to develop hybrid bonding machines for HBM6, with a target launch by the end of 2027, and is also set to introduce non-adhesive bonding machines within the year [2]. Group 2: Technological Advancements - Hanmi Semiconductor boasts advanced thermal compression bonding technologies, including NCF and MR-MUF types, positioning itself as a leader in HBM production technology [2]. - The company emphasizes its in-house production system, managing the entire process from design to assembly, which enhances its competitive edge in technology innovation and cost management [2]. Group 3: Market Demand and Future Outlook - The chairman expressed confidence in the growing demand for high-spec bonding machines due to the expansion of the global AI market and the increasing need for HBM [2]. - Hanmi Semiconductor is actively investing in technology development and capacity expansion to meet the anticipated growth in HBM demand [2].

Core Viewpoint - Samsung plans to adopt hybrid bonding technology in its HBM4 to reduce heat generation and achieve ultra-wide memory interfaces, while SK Hynix may delay its adoption of this technology [1][4]. Group 1: Hybrid Bonding Technology - Hybrid bonding is a 3D integration technology that connects chips directly without using micro bumps, allowing for lower resistance, capacitance, and better thermal performance [2][5]. - The technology supports interconnect spacing of less than 10 µm, providing higher density and thinner 3D stacks compared to traditional bump-based stacking [2][5]. - Despite its advantages, hybrid bonding is expensive and requires specialized equipment, which may affect capital efficiency, especially in space-constrained fabs [2][3]. Group 2: Competitive Landscape - Samsung's plan to use hybrid bonding in HBM4 could reshape the competitive landscape, potentially allowing it to regain market share from Micron and SK Hynix after mass production begins in 2026 [4][5]. - SK Hynix is developing advanced MR-MUF technology as an alternative to hybrid bonding, aiming to produce 16-Hi HBM4 stacks that meet JEDEC specifications [3][4]. - The adoption of hybrid bonding technology is expected to significantly change the semiconductor supply chain, with major players like Applied Materials entering the market for hybrid bonding equipment [5][8]. Group 3: Market Dynamics - The current HBM3E production utilizes TC bonding equipment, which is dominated by domestic suppliers in South Korea, accounting for over 80% of the market [6]. - The demand for HBM is increasing significantly, leading to a rise in supply from domestic companies like Hanmi Semiconductor [6][8]. - The semiconductor equipment ecosystem is anticipated to undergo substantial changes as hybrid bonding technology becomes mainstream [7][8].

Core Viewpoint - The relationship between SK Hynix and its long-term partner Hanmi Semiconductor is showing signs of strain due to supply issues related to the TC bonding machines essential for high bandwidth memory (HBM) production [1][2]. Group 1: Supply Chain Dynamics - Hanmi Semiconductor is actively expanding its supply scale of TC bonding machines, which have been improved based on SK Hynix's requirements, focusing on automation and user-friendly software [1][3]. - SK Hynix has placed orders for 12 TC bonding machines from Hanmi Semiconductor, totaling approximately 42 billion KRW, as it seeks to diversify its suppliers amid rising demand for HBM [2][4]. - The market demand for HBM has exceeded SK Hynix's current production capacity, necessitating additional orders for TC bonding machines before the completion of its M15X factory [2][4]. Group 2: Competitive Tensions - Hanmi Semiconductor's TC bonding machines are priced higher than those from Hanmi Semiconductor, leading to dissatisfaction from Hanmi Semiconductor, which has retaliated by changing customer service from free to paid and increasing equipment prices by 28% [2][4]. - SK Hynix maintains that the pricing of equipment is determined through negotiations with suppliers and denies any unjustified premium pricing for Hanmi Semiconductor's machines [3][4]. Group 3: Technological Advancements - The TC bonding machines supplied by Hanmi Semiconductor are designed to reduce manual operations and incorporate various digital solutions and automation systems, supporting up to 16-layer stacking [3][4]. - SK Hynix has praised Hanmi Semiconductor for its performance in automation systems and maintenance convenience, which aligns with the needs of its engineers [3].

当这些说法在下午被报道出来时，两家公司的股价都出现了波动。 韩美半导体收盘报75,900韩元，较前一交易日下跌6,600韩元（8%），盘中一度跌破75,000韩元大 关。SK海力士也收盘下跌3,100韩元（1.68%）。 近期，SK海力士决定从韩华半导体额外采购用于高带宽存储器（HBM）的TC键合机设备，此前该 设备仅由韩美半导体供应。据报道，韩华半导体的供货金额高于韩美半导体，12台TC键合机的供 货金额为420亿韩元。 韩美半导体与 SK 海力士已保持了 8 年的 TC 键合机等半导体设备供应联盟，但有传言称，这两 家公司正走向彻底分离，但两家公司均否认这一说法，称其"毫无根据"。 SK海力士4月28日表示，有关该公司正在将热压键合机（TC键合机）供应商多元化至韩美半导体 以外，并启动对所有设备多元化的审查的说法并不属实。 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 。 对此，曾八年冻结价格的韩美半导体要求提高HBM TC键合机的价格，并将其在SK海力士工厂的 免费专用售后服务团队改为付费服务，引发了一些摩擦。一家每日经济新闻报道称："SK海力士对 韩美半导体撤回维修人 ...

Core Insights - The demand for TC (Thermal Compression) bonding machines is surging due to intensified competition in the HBM (High Bandwidth Memory) market, with major memory manufacturers vying for orders [1] - Hanmi Semiconductor dominates the HBM3E TC bonding machine market, holding a 90% market share [1] - Micron Technology plays a crucial role in Hanmi's sales, contributing to nearly 90% of its revenue from overseas, with significant capital expenditure directed towards HBM production and development [1] Group 1 - Hanmi Semiconductor has received a large order of approximately 50 TC bonding machines from Micron, significantly larger than previous shipments [1] - Micron is expanding its HBM production capabilities with new facilities in Singapore, Idaho, Hiroshima, and Taiwan, aiming to increase its HBM market share to match its 20-25% DRAM market share [1] - Chinese memory manufacturers are also advancing in HBM technology, with plans to develop HBM3 by 2026 and HBM3E by 2027, leading to increased orders for TC bonding machines [3] Group 2 - The expansion of HBM2 production capacity in China is driving up demand for TC bonding machines [3] - SK Hynix's HBM production capacity is nearing full utilization, which may lead Hanmi to rely more on orders from Micron and other global clients [3]

Core Viewpoint - The competition in the semiconductor industry, particularly regarding the supply of Thermal Compression Bonding (TCB) machines, is intensifying as SK Hynix seeks to diversify its suppliers, challenging the long-standing relationship with Hanmi Semiconductor and introducing Hanwha Semiconductor as a competitor [1][2]. Group 1: Industry Dynamics - SK Hynix is diversifying its TCB machine suppliers, which is crucial for the production of High Bandwidth Memory (HBM) chips, leading to a power struggle in the South Korean semiconductor industry [1]. - Hanmi Semiconductor's entry into the TCB machine market has disrupted the industry and escalated tensions, resulting in legal disputes with Hanmi Semiconductor [1][2]. - Hanmi Semiconductor has withdrawn approximately 50 to 60 employees from SK Hynix's HBM production line, indicating a significant shift in operational dynamics [1]. Group 2: Financial Implications - Hanmi Semiconductor received a 42 billion KRW (30 million USD) order from SK Hynix for TCB machines, marking its first major supply deal since entering the market in 2020 [2]. - Hanmi Semiconductor has raised TCB machine prices by approximately 25% and started charging for maintenance services, which were previously free, reflecting its dissatisfaction with SK Hynix's supplier diversification [1][2]. Group 3: Market Potential - The TCB machine market is projected to grow significantly, with estimates indicating it will increase from 461 million USD in 2024 to 1.5 billion USD by 2027, driven by the expanding HBM market due to the rise of artificial intelligence [3]. - Securing SK Hynix as a client is seen as pivotal for controlling the global HBM equipment market, highlighting the strategic importance of this competition [3].