According to the author's long-term observation and follow-up analysis, with the increasing perfection of domestic semiconductor equipment, the trend of domestic semiconductor equipment listing has gradually moved to the subdivision field and the field of components; not long ago, semiconductor equipment parts manufacturer Fuchuang Precision submitted an IPO prospectus to be listed on A shares.
At the same time, in mid-December, Tianjin Jinhaitong Semiconductor Equipment Co., Ltd. (hereinafter referred to as "Jinhaitong"), a semiconductor sorter equipment field, also submitted an updated IPO prospectus.
Committed to testing sorting machines: accelerating the import substitution of semiconductor test equipment
It is reported that the company is engaged in research and development, production and sales of semiconductor chip test equipment high-tech enterprises, belongs to the integrated circuit and high-end equipment manufacturing industry, the company deeply ploughed the integrated circuit test sorter (Test handler) field, the main product test sorter sold to Chinese mainland, Taiwan, Europe and the United States, Southeast Asia and other global markets.
The company emphasizes that since the establishment of the company, it has been focusing on the field of global semiconductor chip test equipment, and is committed to promoting the development of China's semiconductor industry with high-end intelligent equipment core technology, and accelerating the import substitution of semiconductor test equipment with its independently developed test sorter products.
It is understood that integrated circuit test equipment mainly includes test machines, sorting machines and probe stations, etc., test machines are special equipment for detecting chip function and performance, sorting machines and probe tables are special equipment that will be tested chips and wafers and the functional modules of test machines and realize batch automated testing.
The sorting machine is mainly used in the integrated circuit design stage in the verification link and the finished product testing link in the packaging test stage, the main uses are: the sorting machine will automatically transmit the chip to be detected to the test station (for connecting the chip with the test machine and the location of the test), the pin of the chip to be detected is connected to the functional module of the test machine through the special connection line on the test station, the test machine transmits the test results to the sorting machine after the test, and the sorting machine marks and classifies the detected chips according to the test results. Receiving.
In terms of performance, its 2020-2021 first half of the year has achieved rapid development, and the revenue and net profit in the first half of 2021 have exceeded the whole of 2020, compared with 2019 to achieve a qualitative transformation!
Its customer base includes: customers include Amco, United Technology, HARVEST, Nanmao Technology, Changdian Technology, Tongfu Microelectronics, Inari, USI,
Yong Silicon Electronics, Xinquan Technology and other well-known packaging and testing enterprises at home and abroad, Broadcom, Renesas Technology and other well-known IDM enterprises, Xingtang Communications, Montage Technology,
AiWei Electronics, Yingfei Company, Xinke Technology and other well-known chip design and information communication companies at home and abroad, as well as well-known research institutions and institutions in China.
The development space of domestic semiconductor equipment is large, and Jinhaitong has accelerated the layout of parts and components
According to the data, in 2020, global semiconductor equipment sales reached 71.19 billion US dollars. From the perspective of regional distribution, Chinese mainland in 2020 is the largest market for semiconductor equipment, reaching $18.72 billion, accounting for 26.30% of the global market; Taiwan ranks second with sales of $17.15 billion, accounting for 24.09%; and south Korea ranks third with sales of $16.08 billion, accounting for 22.59%. The North American market fell by 19.88% year-on-year in 2020, accounting for 9.17%. The equipment market in Japan and Europe has picked up.
In recent years, with the pull and support of national policies, China's semiconductor industry has developed rapidly, the overall strength has been significantly improved, the gap between design and manufacturing capabilities and the international advanced level has been narrowing, and the packaging and testing technology has gradually approached the international advanced level. Although the sales scale of semiconductor special equipment enterprises in Chinese mainland continues to grow, advanced equipment manufacturing is still relatively weak, and the self-sufficiency rate is still at a low level. According to the statistics of China Electronics Special Equipment Industry Association, domestic semiconductor equipment sales in 2020 are 21.3 billion yuan, and the self-sufficiency rate is about 17.78%.
At present, the global semiconductor special equipment manufacturers are mainly concentrated in Europe, the United States and Japan, etc., Chinese mainland semiconductor special equipment is still mainly dependent on imports. As the cornerstone of the development of the integrated circuit industry, special equipment relies heavily on imports not only seriously restricts the development of China's integrated circuit industry, but also becomes a major hidden danger in China's electronic information security.
According to the prospectus of Jinhaitong, China's semiconductor industry will be an important link to achieve a leap from following to leading. The localization of semiconductor equipment will greatly reduce the investment costs of Chip Manufacturers in China and improve the competitiveness of Chip Manufacturing in China. The rise of domestic advantageous equipment enterprises is also of great strategic significance for improving the domestic integrated circuit industry chain, breaking the technology and market monopoly of foreign products, and enhancing the independent innovation ability and international competitiveness of China's integrated circuit manufacturing equipment.
The market demand for test equipment mainly comes from downstream packaging and testing enterprises, wafer manufacturing enterprises and chip design enterprises, of which packaging and testing enterprises are the mainstay.
According to SEMI data, since 2015, the scale of China's mainland integrated circuit test equipment market has risen steadily, of which the market size of integrated circuit test equipment in mainland China in 2020 is 9.135 billion yuan, and the compound growth rate from 2015 to 2020 is 29.32%, which is higher than the annual compound growth rate of global semiconductor test equipment in the same period (global semiconductor equipment sales in 2019 fell by 7.40% compared with 2018). Global semiconductor test equipment sales decreased by about 11% compared to 2018).
It emphasizes that with the continuous expansion of the scale of China's integrated circuit industry and the acceleration of the transfer of global production capacity to mainland China, the demand for test equipment in various subdivisions of integrated circuit industries will continue to grow, and the domestic integrated circuit test equipment market demand will have a large space for growth.
According to the prospectus, the Proposed Capital Ofkin Haitong is not more than 746 million yuan, of which 436 million yuan is used for the first phase of the semiconductor test equipment intelligent manufacturing and innovation research and development center, and it is worth noting that there is another 110 million yuan for the annual output of 1,000 semiconductor test sorter mechanical parts and components project.
According to Jinhaitong, the company is mainly engaged in the development and production of integrated circuit testing and sorting equipment, and its equipment spare parts include loading and unloading arm structure, floating head and components, high-temperature parts, tip components and optional parts. In recent years, China's integrated circuit test equipment market demand continues to grow, the company's capacity utilization rate continues to improve and tend to saturation, in order to shorten the processing period of some parts, part of the company's test sorting machine spare parts are obtained through outsourcing procurement.
Jin Haitong stressed that as one of the company's important production links, the processing of spare parts, with the continuous expansion of the company's business volume, the company has put forward higher requirements for the stability and timeliness of the supply of spare parts. The company has been deeply engaged in the field of integrated circuit testing and sorting machine for many years, with "high-quality products, perfect after-sales service" as the market foothold, and years of market accumulation have created a solid market foundation and established a good reputation.
Jinhaitong believes that with the rise of downstream customer demand, the company needs to continue to expand the production capacity of sorting machines. High-end integrated circuit test sorting equipment has strict requirements for station composition, main station mechanical structure, electrical system layout and motor selection and control, and has higher requirements for the fit of spare parts and the whole machine.
The smooth implementation of this fundraising project is conducive to the company to strengthen the control of the upstream supply chain of the product, improve the stability of the supply chain, ensure the timeliness of the company's test sorter product supply, meet the spare parts demand of the future test sorter expansion project, and provide productive supply support for the company to further increase its market share and achieve sustainable development.
In fact, for many equipment manufacturers in the domestic electronics industry, just like Jinhaitong, after the good achievements of the whole machine equipment, many enterprises will accelerate the independent research and development and manufacturing of core components of the equipment. From the perspective of the domestic semiconductor equipment field, the road of capitalization has moved to the subdivision field, of which parts and components are also a market that cannot be ignored! (Proofreading/Wenbiao)