TFME(SZ:002156)2022-12-03 10:30Company Overview - Tongfu Microelectronics Co., Ltd. specializes in integrated circuit packaging and testing, with major shareholders holding a combined 50.07% stake [1] - The company has established a strong customer base, including over 50% of the world's top 20 semiconductor companies [2] Customer and Market Position - Key clients include AMD, MTK, ST, TI, NXP, Infineon, Broadcom, Toshiba, and others, highlighting the company's competitive advantage in customer resources [2] - In 2018, the company ranked sixth among the world's top ten packaging and testing companies, up from seventh in 2017 [2] Joint Ventures and Acquisitions - In 2016, the company, in collaboration with the National Integrated Circuit Industry Investment Fund, acquired high-end packaging factories in Suzhou and Penang, with an 85% ownership stake [2][3] - The acquisition of FABTRONIC SDN BHD was completed in May 2019 for a maximum amount of 13.3 million MYR [3] Industry Trends and Company Outlook - The integrated circuit industry in China is experiencing rapid growth, driven by government policies and funding support [3][4] - Despite a decline in market demand in the first half of 2019, a gradual recovery is anticipated, particularly with the introduction of 5G and AI products [4] - The company is well-positioned to benefit from the expected growth in the industry, especially as domestic chip design and manufacturing needs increase [4] Production Facilities - The company operates multiple factories, including locations in Chongqing, Suzhou, Hefei, and Penang, with significant capacity expansion [5] - Each facility focuses on different product types, such as high-density packaging and specific applications in mobile devices and AI [5]