Hefei Chipmore Technology (SH:688352)2023-11-21 11:01Group 1: Competitive Advantages - The company possesses outstanding technology research and independent innovation advantages, mastering several core technologies with independent intellectual property rights in the display driver chip packaging field [1] - It has advanced packaging capabilities for 28nm process display driver chips, which are crucial for high-end chip performance [2] - The company has extended its bump technology to non-display chip packaging, including power management and RF front-end chips [2] Group 2: Technical and Operational Strengths - The company has a specialized team of over 20 professionals dedicated to smart manufacturing and has made significant investments in technical transformation and software/hardware development [2] - It has independently designed and transformed equipment suitable for 125mm large-area packaging, laying a solid foundation for mass production [2] - The management team has over 15 years of experience in the advanced packaging industry, contributing to the company's stability and innovative spirit [3] Group 3: Customer Base and Market Position - The company has established strong relationships with numerous well-known domestic and international integrated circuit design firms, recognized for its advanced packaging capabilities and high-quality products [3] - As of the first three quarters of 2023, AMOLED revenue accounted for approximately 18% of total revenue, with a rising trend observed in the third quarter [3] Group 4: Production Bottlenecks - Testing machines are identified as the main production bottleneck due to their high cost and low output per unit, with increasing testing times as chip processes advance [3] - The delivery time for testing machines is currently estimated to be 4-6 months [3]