On March 9, Hu Silicon Industry released the main operating data from January to February 2022. After preliminary accounting, the company achieved operating income of about 511 million yuan, an increase of about 51% year-on-year; realized a loss of 8.06 million yuan attributable to non-net profit, a loss of about 74% over the same period of the previous year.
For the improvement of performance, the company said that it is mainly due to the continuous strong market demand in January and February 2022, and the continuous release of the company's production capacity, and the output and sales of the company's products have continued to increase.
Stimulated by the good, on March 10, the Shanghai silicon industry once soared more than 8%, and as of the close, it rose 5.99% to 25.5 yuan / share, with a total market value of 69.37 billion yuan.
Domestic semiconductor silicon chip leader, production and sales of two booming
Shanghai Silicon Industry was established in 2015 by Shanghai Guosheng (Group) Co., Ltd. and National Integrated Circuit Industry Investment Fund Co., Ltd. (Phase I of the Big Fund), focusing on the research and development, production and sales of 8/12-inch semiconductor silicon wafers.
Up to now, the Shanghai silicon industry has become one of the largest semiconductor silicon chip manufacturers in Chinese mainland, and has taken the lead in achieving large-scale mass production of 12-inch (300mm) semiconductor silicon sheets, breaking the situation that the localization rate of 12-inch semiconductor silicon sheets in mainland China is almost 0%.
In terms of products, including 8-inch (200mm) and below semiconductor polishing wafers, epitaxial wafers, SOI silicon wafers, as well as 12-inch polishing wafers and epitaxial wafers, each product has been supplied to major fabs at home and abroad. In the first half of 2021, 8-inch and below semiconductor silicon sheets remained the company's main source of revenue, contributing more than 70% of revenue.
The 2021 annual performance report shows that benefiting from the strong demand for semiconductor market in 2021 and the gradual release of the company's production capacity, the company's sales have increased significantly, resulting in a large increase in profits and profit indicators.
During the reporting period, the Shanghai silicon industry achieved revenue of 2.467 billion yuan, an increase of 36.19% year-on-year; achieved a net profit attributable to the mother of 145 million yuan, an increase of 66.58% year-on-year; deducted non-net profit and a loss of 131 million yuan, compared with a loss of 281 million yuan in the same period last year, achieving a year-on-year loss reduction.
For details, the net profit of large fund holdings | 2021 increased by 67% year-on-year, and the Shanghai Silicon Industry (688126. SH) was acquired the second phase of the Big Fund
Coming to 2022, the company still said that the semiconductor market demand continued to be strong in January and February, and the company's products were both booming.
However, it is particularly noteworthy that in recent years, the company's non-net profit has remained a loss, even in the first two months of operating data can be seen at a glance.
However, a better signal released here is that the company's deduction of non-net profit losses has narrowed, reflecting the company's profitability has gradually been effectively released.
It is time for domestic substitution
In fact, in the past two years, the semiconductor industry has maintained a high degree of prosperity, mainly driven by the development of 5G, high-performance computing, automotive electrification and intelligence, the Internet of Things and other industries, driving the growth of demand for upstream semiconductor silicon wafers.
The so-called semiconductor silicon wafer, also known as silicon wafer, is the cornerstone material of more than 90% of the world's semiconductor devices.
Unlike photovoltaic silicon wafers, silicon wafers are not directly cut by single silicon wafers, but through distillation and chemical reduction processes, high-purity polycrystalline silicon is obtained, and then through photographic plates, grinding, polishing, slicing and other procedures, pull out the monocrystalline silicon wafer, and then cut into a thin wafer.
For semiconductor silicon wafer companies, the manufacture of semiconductor grade polysilicon materials into semiconductor silicon wafers is an extremely important step, of which pulling single crystal is the core process.
From the perspective of competition pattern, in 2020, Japan's Shin-etsu and SUMCO market share is 28% and 22%, Taiwan's Global Wafer Market share is 15%, Germany's Siltron market share is 11%, South Korea's SK Siltron market share of 11%, the total share has reached 87%.
The Shanghai silicon industry successfully pulled out the first 12-inch single crystal silicon ingot in 2016, opened up the whole process flow of 12-inch semiconductor silicon sheet in 2017, and achieved large-scale mass production of 12-inch semiconductor silicon sheet in 2018, which has since filled the gap of Chinese mainland 12-inch semiconductor silicon sheet industrialization.
Up to now, the company has mastered the technology related to large-size silicon wafers such as straight-pull monocrystalline growth, magnetic field direct-drawing monocrystalline growth, thermal field simulation and design, large-diameter silicon ingot wire cutting, epitaxy, etc.; especially in soi silicon wafers, it has the most comprehensive technology in the field of SOI silicon wafer production, including advanced manufacturing technologies such as SIMOX, Bonding, and Simbond.
With the support of hard core technology, the company's production capacity has expanded rapidly. The data discloses that from 2018 to 2021, the company's 12-inch silicon flake production capacity will reach 100,000 pieces /month, 150,000 pieces /month, 200,000 pieces /month, and 300,000 pieces /month, respectively.
In contrast, the company's 8-inch and below silicon chips are relatively mature. As of the third quarter of 2021, the company's production capacity of 8-inch and below silicon chips has reached 400,000 pieces/month.
Recently, the company's 5 billion fixed increase boots landed, winning the favor of the "national team", including the second phase of the high-profile big fund. For the additional 5 billion yuan, mainly in order to increase the investment in the construction of 12-inch high-end silicon wafer research and development and manufacturing, it is expected to reach production in 2024, and the total planned production capacity will reach 600,000 pieces / month.
Why is the company only expanding production of 12-inch silicon chips? In fact, this is also the trend direction of the development of the semiconductor silicon wafer industry.
Under the influence of Moore's Law, semiconductor silicon chips continue to develop in the direction of large size. According to the size category, can be divided into 2 inches, 3 inches, 4 inches, 6 inches, 8 inches and 12 inches of silicon sheet, the diameter of the silicon sheet increases the silicon area of the square level, in order to improve production efficiency and reduce costs, the evolution to large size is the development direction of semiconductor silicon sheet manufacturing technology.
That is to say, the larger the silicon sheet size, the greater the number of chips manufactured on the silicon sheet, and the smaller the edge loss at the same time, which is conducive to further reducing the cost of the chip.
Therefore, with the continuous advancement of domestic substitution, the further release of the company's production capacity is expected to seize more market share in the market.
According to SUMCO, the country's second-largest silicon wafer producer, 12-inch silicon wafers are expected to continue into 2026; Global Wafers also said that order visibility is expected to reach 2024, and the production line is expected to continue to be fully loaded and the price will increase in 2022.
Afterword:
As a domestic semiconductor silicon chip leader, the Shanghai silicon industry has absolute strength, and behind it there is a large fund phase I, a large fund phase II to support, placed in the secondary market is also a well-known "star stock", in 2020 the initial listing of the initial surge of 5 times.
However, in the long run, since the surge to a high of 69 yuan / share, it has continued to oscillate and pull back, and the stock price has rebounded slightly recently, but it has fallen more than 60% from the historical high.
Text: Rainbow bean