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China still lacks key technologies in terms of technology. Last year, the import of chips was about 165 billion US dollars, more than the amount of imported oil. $120 billion. The scale of China's manufacturing industry has reached the world's
First, but the competitiveness is far from the world level. In the future, China's industrial development model should transform from the current "flat development" to "three-dimensional industrialization".  In fact, the number of imported chips is far lower than the actual number of imported chips. According to customs statistics, from January to November 2012, my country's integrated circuit imports amounted to 172.499 billion
USD, an increase of 11.8% year-on-year; the import volume was 219.717 billion, an increase of 11.7% year-on-year. Among them, in the first half of 2012, China's IC imports were 107.36 billion pieces, the same as last year Compared with the previous period, the growth rate increased by 1.4%, and the growth rate decreased by 14.5 percentage points; the import value reached 82.75 billion US dollars. Total imports will far exceed $165 billion, reaching a scale of nearly $200 billion.  2/3 of the world's chips will go to China. At the same time, although the domestic integrated circuit industry has developed, it cannot meet the domestic requirements in terms of quantity and quality. Currently
demand. In the first three quarters, the sales volume of China's integrated circuit industry increased by 16.4% year-on-year, and the output reached 71.3 billion pieces, but the scale only reached 129.257 billion yuan, which is only equivalent to the same less than one-sixth of the imports in the period.  2012 The global semiconductor chip sales totaled 291.6 billion US dollars. That said, globally, more than $220 billion worth of chips pass through China before final sales
Hands are processed. In contrast, in 2012, China's crude oil imports increased by 12.1% year-on-year to US$220.67 billion. In other words, China spends the same price as imported crude oil every year to import a large number of chips.
The United States is still the country with the largest final consumption of integrated circuits in the world, with a total of more than 150 billion billion.
First, let's look at the classification of chips:
 In daily life, we can find the types of chips such as communication chips, artificial intelligence chips, LEDchips, computer chips, etc. Wait.
The chip industry chain is like this:
 According to the division of the industry chain, the core links of the chip from design to delivery mainly include 6 < /span>sections:
Generally speaking, in most of the industrial links such as instruction set and design with relatively high technical barriers, the status of China's chip industry is very weak, and it is very weak compared with European and American chips. There is a big gap between industrial enterprises, and in the areas where the technical requirements such as foundry and packaging and testing are relatively low, China is expected to rise first by virtue of its labor advantage and become a field that is expected to catch up with the world average.
Domestic chip industry chain and major manufacturers:
 Image from: Southwest Securities Research Report
What are the leaders in each segment of the chip?
In addition to the above sub-field leaders worthy of further study, you can also pay attention to the National Integrated Circuit Industry Fund (abbreviation“ Big Fund”) investment targets in recent years.
Everbright Securities Pair&ldquo ;Big Fund”The investment targets are summarized, as of < /span>2018year1month19< /span>Day, the big fund has become50Multiple corporate shareholders, involving18homeAShares,3a Hong Kong stock company, currently Large fund holding stock market value exceeds 200billion.
    China Securities Journal also sorted out some good onesAShare chip company.
Zhaoyi Innovation: Domestic Storage Leader
As a domestic storage leader, GigaDevice ranks in the worldNor flashThe top three in the market, and with the Japanese and American companies Withdrawal, the market share continues to increase; the storage price continues to rise, and the company's profitability is dazzling.
Company BuildIDM< /span>Storage industry chain. 2017year10Month, the company and Hefei Industrial Investment Holding (Group) Co., Ltd. signed a cooperation agreement on memory research and development, and cooperated in the development of process technology< span style="font-size: 13.5pt; color: rgb(77, 79, 83);">19nmmemory12inch wafer memory (including DRAM etc) research and development project, namely Hefei Changxin, is currently progressing smoothly.
Jiangfeng Electronics: domestic target leader
Ultra-high-purity metal and sputtering targets are one of the key materials for the production of ultra-large-scale integrated circuits. The company's ultra-high-purity metal sputtering target products have been The most advanced manufacturing process applied to world famous semiconductor manufacturers, in 16 Nano technology nodes achieved mass supply, successfully breaking the monopoly of American and Japanese multinational companies, and also satisfying domestic manufacturers28 The mass production demand of nanotechnology nodes has filled the gap in China's electronic materials industry.
The company cooperated with American CrownCMPproject and has been added to 2017year11Month to get the first domestic sheetCMPOrder of polishing pads.
North China Creation: Domestic Equipment Leader
North China Creation has become a leader in equipment and has benefited from the current wave of fab expansion. The company's business covers integrated circuits, LED, Photovoltaic and other fields, many equipments have entered14Nano process.
Company product line overlay etcher,PVD, CVD, oxidation furnace, cleaning machine , diffusion furnace, MFC and other seven core categories, downstream customers are mainly domestic first-tier fabs such as SMIC, YMTC, Huali Microelectronics.
Ziguang Guoxin: Storage Design+ FPGA
The company is a leader in memory chip design in China. The company's layout includes the acquisition of Xi'an Huaxin held by Shandong Huaxin51% Equity, the total shareholding increased to 76%, to achieve the goal of becoming the first echelon of domestic memory design. At present, the company's newly developed DDR4Product is being verified and optimized. The company has recently started to work hardFPGA.
Guide Infrared: Infrared Chip Faucet
As the only manufacturer in China that has mastered the technology of Type II superlattice focal plane detectors, AutoNavi has successfully developed engineered products, which means that in optoelectronics span>“ABM”、 “Reverse” and other blank areas to achieve new breakthroughs . At the same time, the promotion and application of high-volume, low-cost core devices in the civilian field has also established the competitive position of infrared chips made in China in the domestic and international infrared industry.
According to Shanghai Stock Exchange Information,2017In 2017, the company's military orders were partially delayed due to the military reform, and the latest news is that the delay Orders will resume without affecting 2018Annual new purchase plan.
Huatai Securities believes that vertical division of labor has become the development direction of the business model of the semiconductor industry. Mainly the following three parts: design, manufacture, packaging and testing. The revenue respectively accounts for about 27% of the overall sales revenue of the industry chain27%、 51%and22%.
chip design field
The top ten in China are Huawei HiSilicon, Tsinghua Unigroup Zhanrui, ZTE Microelectronics, Huada Semiconductor, Zhixin Microelectronics, Huiding Technology, Shixi Lanwei, Datang Semiconductor, Duntai Technology and Zhongxing Microelectronics.
Important Company:
First place: HiSilicon
The Huawei mobile phones you use have a lot of HiSilicon processors and HiSilicon baseband chips. In addition, the smart TVs and security systems you buy also have HiSilicon chips. , HiSilicon will be the largest chip design company in China for a long time, and will rise with the growth of Huawei Group in the future. World No. 1 Qualcomm, 2016Annual Revenue154 span>$100 million is from HiSilicon3.5 times.
Second Place: Ziguang Zhanrui
Spreadtrum, established after the merger of RDA, is currently the largest supplier of Samsung mobile phone processors and baseband chips except its own products. The Samsung mobile phone you bought , mainly low-end series, the chip inside is UNISOC.
Third Place: ZTE Microelectronics
Mainly some chips used in the communication equipment of the company, and the mobile phone chips are also purchased.
4th place: Huada Semiconductor
Yes China Electronic Information Industry Group Co., Ltd.(CEC)A group company formed by integrating its integrated circuit companies. It occupies a large share in the fields of smart cards and security chips, smart card applications, analog circuits, and new displays. At present, Huada Semiconductor has three listed companies, including AShares in Shanghai Belling and Hong Kong companies CLP Holdings and Solomon Systech.
Fifth place: Zhixin Microelectronics
It is a wholly-owned subsidiary of State Grid Information Industry Group. As the core high-end product, technology, service and overall solution provider.
Sixth place: Goodix Technology
is a listed company, the company has achieved the second place in the world in the field of fingerprint identification chips, second only to the one that provides fingerprint identification chips to Apple in the world. AuthenTec.
7th place: Silan Microelectronics
LEDLighting Driver< /span>IC is one of its main business income, and also provides variable frequency motor control chips to home appliance companies.
8th place: Datang Semiconductor
Industrial layout centered on smart terminal chips, smart security chips, and automotive electronic chips.
Ninth place: Duntai Technology
in2005 span>Established in the United States in 2009, dedicated to the research and development of human-machine interface solutions, providing the most competitive mobile electronic devices Powerful capacitive touch screen,TFT LCDDisplay driver chip, touch display integrated single chip(supports inline panelsIDC), fingerprint recognition chip and pressure touch chip, etc.
10th place: Zhongxing Microelectronics
Occupy the global computer image input chip60%above market share. 2005year, Zhongxing Microelectronics was successfully listed on the Nasdaq stock market in the United States, 2016At the beginning of the year, Zhongxingwei launched the world's first integrated neural network processor< /span>(NPU)theSVACvideo codecSoC, so that the intelligent analysis result can be encoded simultaneously with the video data to form a structured video code flow. This technology is widely used in video surveillance cameras, opening a new era of intelligent security monitoring.
Key listed companies are: Ziguang Guoxin, Zhaoyi Innovation(memory), sink Top Technology, Silan Micro(IDM), Datang Telecom, Allwinner Technology, Zhongying Electronics(Home appliancesMCU, lithium battery etc.), Beijing Junzheng, Apex, Fullhan Micro, etc.
Chip Manufacturing Field
Semiconductor industry manufacturing is similar to panel industry. It is an asset- and technology-intensive industry with a large demand for equipment, high technology content and high added value. The investment of a single factory is in the order of tens of billions, and the data shows that a most advanced 12The inch wafer production line needs to invest about 450100 million yuan, TSMC's3Nanofactory investment forecast200$100 million. Key listed companies include: SMIC, Hua Hong Semiconductor, etc.
memory chip field
At present, the three major memory manufacturers in China are in the construction stage. It is expected that2018In the first half of the year, it will enter the stage of equipment installation one after another. The round of equipment commissioning and installation drama will be staged soon.
YMTC:2016 year3months, total investment approx.1600The national memory base of RMB 100 million was launched in Wuhan. Four months later“Yangtze River Storage”The group was formally established, and Tsinghua Unigroup participated in the second-phase investment of YMTC. According to Wuhan Xinxin, the registered capital of Changjiang Storage will be invested in two phases. The first phase is jointly funded by the National Integrated Circuit Industry Investment Fund, Hubei Guoxin Industry Investment Fund and Wuhan Xinxin's shareholder Hubei Science and Technology Investment Group, in Wuhan Xinxin Integrated Circuit Manufacturing Co., Ltd.(ie“Wuhan Xinxin”) to establish the Yangtze River Storage. The second phase will consist of Tsinghua Unigroup and the National Integrated Circuit Industry Investment Fund jointly invested. Yangtze Memory will take chip manufacturing as a breakthrough and integrate memory product design, technology research and development, wafer production and testing, and sales. It is expected to be2020Annual monthly production capacity30The production scale of ten thousand pieces, to 2030year built monthly100Capacity of ten thousand pieces. span>
Jinhua memory integrated circuit production project is located in the integrated circuit industrial park in Jinjiang, Quanzhou. It is jointly invested by Fujian Electronic Information Group and Quanzhou and Jinjiang governments. Building, total planned area594mu, first-phase investment370< /span>100 million yuan, the construction content includes wafer manufacturing, industrial chain support, etc. It is estimated that2018year9Months form monthly production610,000 pieces12The production scale of advanced process memory wafers. After the project is completed, it will fill the gap in my country's mainstream memory field. It is reported that DRAMMemory production project, Jinhua project has been included in the country“Thirteenth Five-Year”integrated List of major projects in the layout and planning of major circuit productivity, and supported by the national special construction fund.
Hefei Changxin: Innovation by Beijing Zhaoyi(GigaDevice)Memory project in cooperation with Hefei Municipal Government. Investment72$100 million(approximately NT$2,166.46100 million yuan), build 12inch fab to developDRAMProduct, after the future is completed, the maximum monthly output is expected to be as high as12.510,000-piece scale.
Package and testing area
Key listed companies in the field of packaging and testing are: Changdian Technology(faucet), Huatian Technology(Excellent financial indicators), Tongfu Microelectronics, Taiji Industry(DRAMpackaging and testing, clean room< span style="font-size: 13.5pt; color: rgb(77, 79, 83);">) , Deep Tech, etc.
Integrated Circuit Devices
China only4 The largest wafer manufacturing equipment manufacturer in the world, accounting for 7%: According toGartnerThe report released by the wafer manufacturing equipment manufacturers above the global scale shows that its statistical range is a total of58one equipment company, China only accounts for span>4The seats are North Huachuang, Zhongwei Semiconductor, Shengmei Semiconductor and Matts on(2016Acquired by Yizhuang SDIC), other respectively Located in Japan21Home, EU13Home, USA10Home, Korea7Home, Israel 3home.
Key listed companies are: high-endIC North Huachuang, a leader in process equipment, and Changchuan Technology, a leading company in testing equipment(covers all areas of manufacturing and packaging)、High-purity craft faucet to pure technology(lithography, etching, etc., these links will be used Chemicals and specialty gases have high requirements for purity. Pure Technology is to control the purity of gases.) and single crystal equipment leader Jingsheng Electromechanical, etc.
Semiconductor Materials
China's semiconductor manufacturing material industry maintains a sustained growth trend. 2016Annual Sales Revenue of Chinese Semiconductor Materials Enterprises256 100 million yuan. Expected2018years later, China will become the third largest market in the world. The localization of the material supply chain is not only conducive to the control of manufacturing costs, the rapid and timely response of services, and the safety and control of technology, but also brings more benefits to industrial synergies.
Key listed companies are: With the continuous breakthrough of reagent purification and transportation technology, the amount of wet electronic chemicals is relatively certain in the short term, it is recommended to focus on domestic leading crystals Rui Co., Ltd., Jianghuawei; target material is the first sub-industry of domestic semiconductor materials to enter the semiconductor core industry chain. It is recommended to focus on Jiangfeng Electronics, the domestic target material leader; large-scale silicon wafers are also a relatively certain area in the future. It is recommended to pay attention to Shanghai Xinyang, a pioneer company that is already in the trial production certification stage. In addition, in the field of photoresist, NTU, CMPDinglong Co., Ltd. in the polishing pad field is expected to take the lead in technological breakthroughs and realize import substitution as soon as possible.
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