schedule! China's chip de-beautification industry chain is about to be formed
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SMIC was finally targeted by the US.

Actually, all those who are engaged in the domestic technology industry should understand——

Under the current situation, any company that has made some achievements will eventually become glorious. Emperor’s blacklist.

It's just the time.

China's technology industry, after all, has to establish a completely de-beautified chip industry chain, which is the ultimate way out.

1

First come to the conclusion.

This SMIC blacklist incident is the same as in the past.

1) For mobile phone brands and chip manufacturers in the middle and lower reaches, short-term risks and long-term opportunities.

2) It is an unprecedented opportunity for upstream equipment factories and material factories. The short-term is an opportunity, and the long-term is a greater opportunity.

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First of all, due to the lack of technical support for mid-to-high-end business, it cannot be done in the short term. The competitiveness of mobile phone brands and chip manufacturers in the global market will inevitably decline, leading to a reduction in share and a decline in stock prices. .

But SMIC will not sit still.

You can refer to the competitive strategies of screen manufacturers (BOE, TCL Huaxing Optoelectronics) -

Increase capital expenditures on low-end businesses and rely on price wars to seize the market Share, and form a squeeze effect through scale advantages, gradually monopolizing low-end business.

The low-end chip business refers to a wafer production line with a relatively mature process. Although the gross margin is not as good as the high-end business monopolized by TSMC, the market scale is still quite large.

The following figure is an example. In 2019, the global foundry industry's capacity distribution, mature processes above 40nm accounted for 78% of the total capacity.

Except for TSMC and Samsung, other current fabs are based on mature processes.

Due to the relatively low technical threshold, the market is divided among seven or eight companies including GF, UMC, SMIC, Hua Hong, Powerchip, Gaota, and Advanced World.

This market pattern is similar to that of the LCD TV panel market around 2016.

At that time, in the high-end field of the panel market, AMOLED was the only one of Samsung.

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This is exactly the same as the monopoly of high-end chip manufacturing by TSMC.

In the low-end LCD panel, the group is fighting fiercely, LGD first (20.6%), Samsung second (18.3%), Taiwan's Innolux third (16.3%), and BOE only ranks fourth. (15.4%), TCL’s China Star Optoelectronics ranked fifth (12.7%).

After four years of fierce price wars, all Japanese and Korean manufacturers were forced to withdraw from the market under the pressure of huge losses.

BOE and TCL ranked first and second respectively.

With the end of the price war, industry cakes are concentrated in the hands of leading companies, and profit margins begin to rise.

With the support of stable cash flow, local leaders will be able to gradually concentrate on launching challenges to high-end businesses.

Although our country has institutional support and A-share financing costs are also cheap, for companies, the long-term solution is still to have a cash cow business support.

It can be predicted that once SMIC's ambition for upward breakthrough is frustrated, its short-term strategy will inevitably shift to the integration of the low-end chip market.

Build walls high, accumulate grain, and slowly become king.

This is what SMIC and the leaders of China's technology industry should do.

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Of course, in the process of shifting the strategic focus to low-end market integration, it is also necessary to keep a certain degree of follow-up on high-end technology.

Just like BOE, although the focus of the past five years has been on the low-end LCD panel market, it has also maintained its technological research on OLED panels.

The so-called R&D innovation is ultimately a triad contest of "money, talent, time".

When the money is in place and the talents are abundant, the next step is to be patient with time.

Compared with the short-term risks of mid- and downstream brands and manufacturers, the blacklist is unprecedentedly good for local upstream equipment factories and material factories.

The short-term is an opportunity, and the long-term is a greater opportunity.

First, the domestic industry chain will have a strong hunger for equipment and materials. There is almost no need to worry about sales issues, and the ceiling is completely opened.

Secondly, the demand, financing, policy and talents are all in place, and the growth environment has never been better.

What is needed is also time.

When SMIC was listed on the Science and Technology Innovation Board in July, a large number of institutional and strategic investors participated, among which 29 strategic investors were allocated 84281 million shares, accounting for half of the total offering.

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In this group of strategic investors, in addition to the second phase of the National Fund, the Shanghai Integrated Circuit Industry Investment Fund and other famous industrial funds, there is also a special strategic investor: Qingdao Juyuan Xinxing Equity Investment Partnership.

This company was founded by 14 A-share semiconductor companies and was registered in Qingdao. It is the third largest investor in the SMIC Technology Innovation Board this time, with a capital contribution of up to 2.2 billion.

14 companies include——

Materials companies: Shanghai Xinyang (supplying wet electronic chemicals), Shanghai Silicon Industry (supplying large silicon wafers), Zhonghuan (supplying large silicon Film), Anji Technology (supplied polishing liquid), Jiangfeng Electronics (supplied sputtering target material);

Equipment company: China Micro Company (supplied etching machine), Shengmei Co., Ltd. Listed on the board, supply cleaning equipment), Leimu shares (supply connectors), Zhichun Technology (supply cleaning equipment);

IC design companies: Lanqi Technology, Weir shares, Goodix Technology, Poly Chen shares, Allwinner Technology.

Looking at this list of strategic shareholders, is there a sense that China’s chip industry has the same hatred and development? !

2

After solidifying the foundation, the next step is to build a more advanced chip supply chain as soon as possible.

How to define advanced?

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At this stage, talking about 5nm, 7nm, and even 14nm is somewhat unrealistic.

28nm can still be touched.

First of all, don't underestimate the 28nm technology. This is the demarcation point between mature and advanced processes.

Although it is far behind TSMC’s 5nm technology, once we have fully mastered the 28nm technology, it means that we will not be stuck with most of the chip demand in the market.

In the current types of chips, except for CPU, GPU, and AI chips that require relatively high power consumption, the other industrial-grade chips actually use technologies above 28nm.

For example, TVs, air conditioners, automobiles, high-speed rails, rockets, satellites, industrial robots, elevators, medical equipment, smart bracelets, drones, etc., the technology of these drive chips is above 28nm technology .

Even TSMC, which has mastered the most high-end technology, half of its revenue comes from processes above 28nm.

So, being able to fully control the 28nm technology is also a great advancement.

Secondly, not only has SMIC already mastered 28nm mass production capacity, Hua Hong Semiconductor also achieved mass production of 28nm chips in 2018. In terms of mass production operation capacity, my country has enough Reserve.

Now, it depends on the equipment and materials upstream of the chip, when will the shortcomings be filled.

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Next, Junlin will analyze the development level of my country's chip supply chain from the two links of equipment and materials.

PART ONE equipment side

Silicon wafer equipment-heat treatment equipment-lithography equipment-etching equipment-ion implantation equipment-thin film deposition equipment-polishing equipment-cleaning equipment-testing equipment< /p>

PART TWO material end

Silicon wafer-electronic special gas-photoresist-polishing material-high purity wet electronic chemicals-target material

3, PART ONE equipment side

1) Silicon wafer equipment

Making silicon wafers is the first link in chip production. The silicon single crystal furnace is used to make silicon wafers. The main device.

Jingsheng Electromechanical is the leader in this field. It has undertaken 2 major national science and technology projects. The silicon single crystal furnace technology is leading and the domestic high-end market share is the first.

In 2019, the company achieved revenue of 3.109 billion yuan, of which the single crystal furnace achieved revenue of 2.173 billion yuan, accounting for nearly 70%, and gross profit of 829 million yuan, accounting for 74.93%.

Silicon wafer companies such as Zhonghuan Co., Ltd., Shanghai Silicon Industry, and Research Silicon Stocks are their customers.

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In the first half of this year, the company completed the development of 8-inch hard shaft Czochralski silicon single crystal furnace and 6-inch silicon carbide single crystal furnace epitaxy equipment.

Among them, the silicon carbide single crystal furnace has been delivered to customers, and the epitaxial equipment and polishing equipment have completed technical verification. The 12-inch semiconductor single crystal furnace has been industrialized in well-known domestic customers.

In addition, the company has increased the research and development and market development of new products such as semiconductor polishing fluid, valves, magnetic fluid components, 16-32 inch crucibles, and the supporting advantages of the industrial chain have gradually emerged.

Jingsheng Electromechanical started from the photovoltaic equipment industry in the early years and gradually entered the semiconductor equipment field. Now it has expanded from a single silicon single crystal furnace equipment to slicing, polishing, and epitaxial equipment, and even developed a third Generation of silicon carbide semiconductor equipment.

Summary: Technically no problem at all.

2) Heat treatment equipment

The heat treatment equipment includes horizontal furnace, vertical furnace and rapid heating furnace (RTP), etc., mainly for silicon wafers Process treatment such as oxidation, diffusion and annealing.

North Huachuang is the leader in this field, and has mature product lines in various subdivisions of heat treatment equipment.

In the first half of this year, the company obtained orders for 3 silicon etching, 3 PVD, 2 furnace tubes and 5 annealing equipment in Yangtze River Storage. The market share of silicon etching equipment reached 27%.

At the same time, it obtained orders for 3 silicon etching, 1 PVD and 2 annealing equipment in Huahong Department; and obtained orders for 2 etching, 4 oxidation equipment and 1 annealing equipment at Jaeger Tower Semiconductor.

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North China Huachuang is not only the leader of heat treatment equipment, but also one of the leaders of photovoltaic, lithium battery, semiconductor silicon etching, film deposition, cleaning equipment, and even the third generation of silicon carbide semiconductor equipment.

In the first half of this year, the company’s silicon carbide (SiC) crystal growth furnace, etching machine, PVD, PECVD and other third-generation semiconductor equipment began to supply the market in batches;

12-inch silicon A variety of high-end semiconductor equipment such as etching machines, metal PVD, vertical oxidation/annealing furnaces, and wet cleaning machines have also entered the mass production stage, and the research and development results have a feeling of dumplings.

Summary: Technically no problem at all.

3) Lithography equipment

Photolithography is the core part of wafer production, including photolithography machines and glue developing machines.

my country's lithography machine technology is relatively backward, and the most advanced Shanghai Microelectronics can only mass produce 90nm immersion lithography machines.

It is reported that Shanghai Microelectronics will complete the delivery of the first 28nm domestic lithography machine in 2021.

In order to accelerate the progress of my country's lithography machine technology, all parties have worked together.

It is reported that Zhangjiang Hi-Tech participated in the Series A financing of Shanghai Microelectronics, with an investment cost of 223 million yuan.

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The industry predicts that under the scenario of different market capitalizations and different IPO dilution ratios, Zhangjiang Hi-Tech is expected to obtain after-tax investment income between 2.66 billion yuan and 5.49 billion yuan (income rate is 25%).

The bottleneck restricting my country's lithography machine technology is mainly the backwardness of optical precision components.

The leader in this field is Maolai Optics, which has been accepted by the Sci-tech Innovation Board for IPO. Its main products include precision optical devices, high-end optical lenses and advanced optical systems, covering three major business types, covering deep ultraviolet DUV, visible light to far infrared full spectrum.

Moray Optics is one of the core suppliers of Shanghai Microelectronics. From 2017 to 2019, Moray Optics achieved operating income of 152 million yuan, 184 million yuan and 222 million yuan, respectively. The compound growth rate reached 20.82%.

According to the prospectus, in 2019, the company realized the mass production of a series of large-field and large-numerical aperture microscope objectives and high-precision and rapid semiconductor manufacturing process defect detection optical systems.

At the same time, it is also constantly breaking through various technologies such as ultraviolet optical processing and coating, large-diameter high-precision lens processing, and promoting large-diameter interference systems, lithography machine optical systems, automotive laser radars and other high-end lenses and Domestic research and development of the system.

In addition to the development of the semiconductor business, the company has also successfully entered the supply chain system of Microsoft, Facebook, and Google's autonomous driving platforms in the fields of AR/VR and autonomous driving.

Xinyuan Micro is the industry leader in the field of glue developing machines.

In the domestic rubber coating and developing equipment market, Tokyo Electronics monopolizes 90% of the market share, and Xinyuan Micro has a market share of about 5%. It is the only technology that can break through 28nm in my country company of.

The company has achieved a breakthrough in mass production since 2018. The former I-line coating and developing machine was launched in Yangtze River Storage for process verification, and the former Barc (anti-reflective layer) coating equipment passed in Shanghai Huali了Verification.

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In 2019, it has successively obtained equipment orders from many customers such as Qingdao Xinen, Shanghai Jita, SMIC, Kunming BOE, Xiamen Silan, etc., and has sold more than 800 sets of equipment so far.

In recent years, the company has also begun to enter the field of wet cleaning equipment, competing with Shengmei shares, Zhichun Technology and Northern China.

Summary: The lithography machine is the main bottleneck, and Maolai Optics' deep ultraviolet DUV optical technology is under development.

4) Etching equipment

Etching is the most important process after silicon wafer photolithography, including silicon etching, metal Etching and dielectric etching equipment, etc.

At present, my country’s etching equipment is relatively advanced. The second-generation dielectric etching equipment of China Micro Company has been widely used in the back-end process of 28 to 7nm and the front-end process of 10nm. Chuang's silicon etching machine has also made significant progress on the 14nm process.

China Micro-Company is the leader in this field. In the first half of 2020, the company achieved operating income of 978 million yuan, an increase of 22.14% year-on-year, and realized a net profit of 119 million yuan, an increase of 291.98% year-on-year. .

Among them, the etching equipment revenue is about 613 million yuan, a year-on-year increase of about 72.53%, accounting for more than half of the overall revenue.

The company is one of the companies with the largest investment in semiconductor equipment research and development in China. The latest fixed increase financing is about 10 billion yuan for the development of CCP etching equipment, dielectric etching equipment, and high-end MEMS plasma for processes below 7nm. Volume etching equipment, advanced 3nm technology polysilicon etching, 3D NAND multilayer step etching, ALE atomic layer etching equipment, CVD equipment, etc.

Summary: Technically no problem at all.

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5) Ion implantation equipment

After the silicon wafer is etched, some special impurity ions need to be implanted into the silicon substrate. This is the ion implanter .

Ion implanter is the key equipment of semiconductor wafer manufacturing equipment, second only to the lithography machine in difficulty and unit price. Previously, two major American companies, AMAT and Axcelis, monopolized about 70% of the share.

my country’s leader in this field is KST under Wanye Enterprise, and the majority shareholder behind it is Shanghai Pudong Technology Investment Corporation, one of my country’s top technology venture capital forces.

KST was established in 2009. In its early days, it was mainly engaged in the research and development of ion implantation equipment in the photovoltaic industry, and its shipments ranked first in the world.

In the past two years, the company has begun to cut into the semiconductor field and fully promote the research and development of "key technology research and prototype verification of high-energy ion implanters".

In 2019, KST's wafer ion implanter has been verified by domestic 12-inch wafer fabs and mainstream memory chip fabs, and the products have excellent beam intensity indicators.

In addition, the electrical equipment under the China Electronics Technology Group has also developed a large beam 28nm high-energy ion implanter, and it is used on-site on the SMIC 12-inch production line.

Summary: Technically no problem at all.

6) Thin film deposition equipment

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The thin film deposition process is divided into three categories: physical vapor deposition (PVD), chemical vapor deposition (CVD) and epitaxy .

The PVD equipment of North Huachuang has been used in the 28nm production line, and the 14nm process equipment has also achieved significant progress.

Shenyang Tuojing’s PECVD equipment has been used in SMIC’s 40-28nm production line, and the ALD equipment has also been verified on the 14nm process production line.

Summary: No technical problem at all.

7) Polishing equipment

In the later stage of wafer manufacturing, the surface of the silicon wafer needs to be flattened, which uses a polishing machine.

The leader in this field is Huahai Zero2, which is currently in the process of IPO guidance on the Science and Technology Innovation Board.

Huahai Zero2IPO was established in 2013. The actual controller is Tsinghua University. The core team members are from the State Key Laboratory of Tribology of Tsinghua University.

According to the information of China International Bidding Network, in the first half of this year, Huahai Zero2IPO obtained 3 CMPs from Huahong Semiconductor (Wuxi) project, and a total of 5 CMP orders were obtained. The CMP market of this production line The rate is 38%.

In addition, Huahai Zero2IPO also won the bid for Shanghai Xinsheng 1 CMP equipment, and its share of CMP equipment in Yangtze River Storage is 14.9%.

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Huahai Zero2IPO also participated in the national 02 special project-"28-14nm polishing equipment and technology, supporting materials industrialization" project, is my country's leading enterprise in the field of polishing equipment.

Summary: Technically no problem at all.

8) Cleaning equipment

Almost all processes need cleaning links, which uses cleaning equipment.

Shengmei Semiconductor is the leader in this field. At present, the application for listing on the Science and Technology Innovation Board has been accepted, and it has been listed on the Nasdaq in 2017.

In the domestic domestic cleaning equipment market, Shengmei occupies about 80% of the market share, and the remaining 20% ​​is divided between North China Huachuang and Xinyuan Micro and Zhichun Technology.

In addition to Shengmei, Northern Huachuang's cleaning equipment can also meet the needs of the 28nm technology node.

As the industry leader, Shengmei Semiconductor developed the first megasonic cleaning technology SAPS in 2009 and entered the Wuxi production line of SK Hynix.

Since then, the world's leading semiconductor cleaning technologies such as TEBO and Tahoe have been successively developed, and the technology nodes are making continuous breakthroughs in advanced process technologies such as 5nm and 3nm.

The company's top five customers are Yangtze River Storage, Huahong Group, Hynix, Changjiang Electronics Technology and SMIC.

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Summary: Technically no problem at all.

9) Inspection equipment

Test equipment includes process inspection equipment, silicon wafer test equipment, and wafer mid-test equipment. Including probe cards, probe stations and testing machines, etc., a wide variety.

The leader in this field is Saiteng. The company entered the field of semiconductor testing equipment through the acquisition of Optima from Japan. Customers include top manufacturers such as Samsung, SK Hynix, and TSMC.

Currently, the world's chip testing equipment is monopolized by three companies, namely Kelei, Applied Materials, and Hitachi, with a total market share of 75%.

my country’s localization rate is below 5%. Saiteng shares the opportunity to acquire 67.53% of Japan’s Optima Co., Ltd. for 160 million yuan in September 2019.

Although Optima's scale is small, it achieved revenue of 179 million yuan and net profit of 30,705,500 yuan in 2018.

However, due to the early development time, there are mature product lines in wafer edge inspection, wafer front/back inspection, macro inspection, pinhole inspection and other wafer defect inspection equipment. It is scarce.

Through the parent company's needle and lead, its equipment is now gradually entering the domestic semiconductor production line.

As of the first half of 2020, Optima's main domestic customers include Shanghai Xinsheng, Zhonghuan Semiconductor, Xi'an Eswell Silicon, etc.

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Summary: Technically no problem at all.

4. PART TWO material end

1) Silicon wafer

Silicon wafer is the base for making chips, and it also accounts for semiconductor materials The link with the largest market share.

In the international market, Japan’s Shin-Etsu Chemical, Sumitomo Seco, Germany’s Shichuang, and Taiwan’s Global Wafer are the world’s four major leaders, accounting for more than 80% of the total market.

my country’s leading companies are Shanghai Silicon Industry and Zhonghuan. Although the scale is still small, the large 12-inch silicon wafers can fully meet the requirements of 28nm technology.

Among them, Shanghai Silicon has the largest scale. It has completed the layout of the three subsidiaries of Shanghai Xinsheng, Xinao Technology, and Okmetic. Its products cover well-known companies such as SMIC and TSMC. From 2021-2022, the production capacity of 12-inch large silicon wafers can reach 600,000 pieces\month.

In terms of the research and development of new products, the company has already carried out the “20-14nm" national 02 special research and development progress. There are more than 30 product specifications in the process of certification or research and development, including applications in 14nm logic chips, 19nm DRAM chips and 128-layer 3D NAND products, etc.

The revenue growth in the first half of this year was 30.53%, and the loss was mainly due to the fact that capacity expansion was still in the early stage. With the realization of scale effects in the future, there will be no big profit problems.

Summary: Technically no problem at all.

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2) Electronic special gas

Almost every link in semiconductor production uses electronic special gas, so it is called the "blood of semiconductor manufacturing". "And "food".

The purity of the electronic special gas directly determines the performance, integration and yield of the product. This is the second largest wafer manufacturing material after silicon.

In the international market, five major companies, including Air Chemicals, Praxair, Linde, Air Liquide, and Dayo Nippon Acid, control over 90% of the global market share, forming an oligopoly .

In the domestic market, although the localization rate is not high, the domestic substitution rate is relatively fast. Local competitive companies include Huate Gas, Nanda Optoelectronics, Haohua Technology, and Jacques Technology, Jinhong Gas, etc.

At present, some products of Huate Gas have been supplied in batches for 7nm, 14nm and other wafer production lines, and some fluorocarbon products have been used by TSMC with processes below 7nm.

The 20 imported substitute products developed by the company have achieved large-scale production, including Ar/F/Ne mixed gas, Kr/Ne mixed gas, Ar/Ne mixed gas, Kr/F/Ne mixed gas The 4 lithography gas products ranked first in the domestic market share in 2017, reaching 60%.

Huate Gas has also passed the product certification of ASML, the world's largest lithography machine supplier, and has supplied products to first-line companies such as SMIC and Hua Hong Hongli.

Relatively speaking, Nanda Optoelectronics products are mainly mixed gases such as phosphane and arsine. The market is concentrated in LED, panel and other industries, and semiconductor specialty gases are still in the development stage.

The products of Haohua Technology are mainly fluorine-containing electronic gases (nitrogen trifluoride, sulfur hexafluoride), and the market is concentrated in the fields of electric power, military industry, and photovoltaics. Semiconductor specialty gases are still in the development stage.

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According to the acquisition of Chengdu Kemet, Jacques Technology entered the fluorocarbon gas industry. The market is concentrated in the power industry, and small-scale supply of companies such as TSMC, US intel, and US TI.

Summary: Technically no problem at all.

3) Photoresist

Photoresist is a special material used in supporting lithography machines. The market scale is not large, but Moore's Law continues One of the key materials for advancement.

In the international market, photoresist is monopolized by six major companies including TOK, JSR, Fujifilm, Shin-Etsu Chemical, Sumitomo Chemical, and Dow Chemical of the United States.

Domestic photoresist companies include Beijing Kehua, Shanghai Xinyang, Jingrui Co., Ltd., Nanda Optoelectronics, Suzhou Ruihong, Hengkun Co., Ltd., etc. At present, the technology is progressing rapidly, and it is in the pursuit of you. stage.

The local leader is Beijing Kehua, which is currently the only photoresist company in China that can match the supply of the Dutch ASML lithography machine production line. Tongcheng New Materials passed the transfer of 33.70% of Beijing Kehua Equity is its largest shareholder.

Kehua’s photoresist products cover various subdivisions such as KrF, I-line, G-line, and UV broad spectrum. Customers include SMIC, China Resources Shanghua, Hangzhou Shi Lan, Jilin China Microelectronics, Sanan Optoelectronics, HC Semitek, Dehao Optoelectronics, etc.

In addition, Shanghai Xinyang has also made major breakthroughs in the high-end photoresist fields such as ArF dry method, KrF thick film adhesive, and I line for IC manufacturing. The 19,000 tons/year ArF (dry method) under construction The photoresist project is expected to reach production in 2022.

The i-line photoresist of Jingrui Co., Ltd. has obtained supply orders from SMIC Tianjin and Yangjie Technology, and is tested in Shanghai SMIC, Shenzhen SMIC, Jilin Huawei and other large factories; KrF photoresist completed pilot test verification.

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Summary: The technical problem is not big, and the 28nm production line will be implemented in 1-2 years.

4) CMP polishing material

The polishing liquid and polishing pad are used in conjunction with polishing equipment and are the key materials for the CMP polishing process.

In the international market, polishing pads are monopolized by three companies: Dow Chemical (about 80%), Cabot, and Toray, Japan. The polishing fluid is controlled by Cabot (about 36%). Share), Dow DuPont, VSM, Hitachi, Fujimei and other five companies monopolized.

They are all controlled by a few companies in the United States and Japan, mainly due to the small market size, high technical barriers, and the fabs that are unwilling to easily change suppliers for stable production quality .

The result is that the industry structure is highly concentrated, and it is difficult for new entrants to find development opportunities.

The leader in the field of polishing fluids is Anji Technology, and the products have been applied on a large scale in the 14nm technology chip production line, and the 10-7nm technology node is under development. SMIC , YMTC, TSMC, and Sanan Optoelectronics are all company customers.

The company currently has a total polishing liquid production capacity of 13,314.34 tons/year and an under-construction production capacity of 16,100 tons/year. The number of patents for CeO2 abrasives used in polishing liquids ranks first in the world.

In the first half of 2020, the company's operating income was 192 million yuan, a year-on-year increase of 48.56%, and it is developing rapidly.

The leader in the field of polishing pads is Dinglong. In the first half of 2020, the revenue of polishing pads is 21 million yuan, an increase of 2145.96% year-on-year, and it has entered the early stage of heavy volume.

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In the first half of the year, the company made significant progress in many domestic fabs Yangtze River Storage, Wuhan Xinxin, SMIC, Hefei Changxin, etc. The polishing pad products have been mass-produced by major customers verification.

In terms of technology, in the first half of 2020, DH3110/DH3310 and other products applied in advanced processes were launched. The polishing pad products matching the 28nm technology node have matured, and the research and development progress has advanced to the 14nm stage.

Summary: Technically no problem at all.

5) High-purity wet electronic chemicals

Ultra-clean high-purity reagents refer to chemical reagents with a purity of the main components higher than 99.99%, mainly used for Chip cleaning, etching and other manufacturing fields.

The concentration in this field is relatively low. There are companies in Europe, America, Japan, South Korea, Taiwan, and mainland China that can produce it. The main manufacturers in my country include Shanghai Xinyang, Jingrui, Jianghua Micro, Zhejiang Kai Shenghe Jiangyin Runma and so on.

Among them, The leader is Shanghai Xinyang, whose ultra-pure copper sulfate electroplating solution has successfully entered the 28nm process manufacturing process of SMIC and Hynix.

Jingrui is also an important supplier. Leading products such as ultra-pure hydrogen peroxide, ultra-pure ammonia and high-purity sulfuric acid under construction have reached G5 level, and other high-purity chemicals are generally in G3, G4 grade.

Summary: Technically no problem at all.

6) Target materials

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Target materials are needed in the two links of wafer manufacturing and testing and packaging. Currently, 45-28nm is mainly used in chip technology Pure copper aluminum and copper-manganese alloy targets.

When the chip manufacturing process is below 20nm, especially less than 7nm, the cobalt target has obvious advantages in terms of filling capacity, resistance and reliability.

In the international market, Japan’s Nikkei, Tosoh, and the US’s Honeywell and Praxair account for 80% of the market.

Domestic companies mainly include Ashi Chuang, Longhua Technology, Youyan New Materials and Jiangfeng Electronics.

Among them, Ashichuang and Longhua technology products are mainly used in panels and touch controls. Jiangfeng electronic products cover the fields of semiconductors, solar photovoltaics and panels. Research new materials mainly produce semiconductor targets. .

The leader is Jiangfeng Electronics, which is currently mass-produced for 90-7nm semiconductor chipstantalum, copper, titanium, aluminum Target materials, of which tantalum targets have been mass-produced in TSMC’s 7nm chips, and 5nm technology node products have also entered the verification stage.

The revenue scale of the target material of the research new material is not as good as that of Jiangfeng Electronics, but it can also produce 8-12 inches of aluminum, titanium, copper, cobalt, and tantalum semiconductor targets. Covering chip companies such as SMIC, TSMC and UMC.

Summary: Technically no problem at all.

5. Summary

my country's semiconductor industry is in a stage of rapid development. There are leading companies in each sub-field in the research and development of card positions, and technological progress is changing with each passing day.

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In many links, although the media has stated that the technology is very difficult, most of the market is monopolized by multinational giants, and the localization rate is very low.

But in fact, from the perspective of the industry's progress this year, almost all links (except for lithography machines) already have 28nm technology domestic equipment and materials in the production line verification stage.

The current bottleneck is mainly in the lithography machine.

Since only Shanghai Microelectronics is doing the lithography machine, the progress is slow, but it also predicts that the delivery of the first 28nm domestic lithography machine will be completed in 2021.

I believe that through 1-2 years of hard work, it is completely possible for my country to complete a 28nm chip de-beautification industrial chain.

Tags: Finance Chip

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