Make a fortune in silence! The sudden global coronavirus epidemic has broken the gap between economic growth and demand for electronic products. Now the semiconductor supply chain production capacity is fully loaded and new demand continues to be received. No wonder Wu Tianyu, CEO of the global sealing and testing leader Sun and Moonlight, said confidently that the packaging and testing capacity has been tight until the second quarter of 2021.
Today, we share the unfathomable "Wenzhou Gang" behind the scenes of the closed beta giant Sun and Moonlight Zhang Qiansheng family's past legendary story.
is comparable to TSMC. Sun and Moonlight has a high status in the packaging and testing industry
CEO of Sun and Moonlight Holdings Wu Tianyu
The sudden outbreak of the new crown epidemic has had a profound impact on many industries, including the terminal demand for electronic products. What many people would not expect is that the capacity utilization rate of the semiconductor industry chain is full. In addition to the decline in inventory of IC design operators, details , there is almost no inventory on the manufacturing side, including chip foundries and packaging and testing plants. It seems that the demand and growth trend of electronic products have not changed under the epidemic. Under the epidemic, the power of the "home economy" cannot be underestimated!
Regarding the prosperity next year, Wu Tianyu, CEO of the global sealing and testing manufacturer, Sun and Moonlight Holdings, was even more shouting "optimistic". He revealed that the current supply and demand situation in the sealing and testing industry will continue to at least until the second quarter of next year, and now, demand orders have been coming.
With the sales of Apple's first 5G mobile phone iPhone 12, Samsung, OPPO, Vivo, Xiaomi continues to launch new mobile phones to seize the market, making the production capacity of chip foundries, PA packaging and packaging and testing manufacturers full, and their performance growth is far beyond expectations.
Chairman Zhang Qiansheng (right) was awarded honorary doctoral degree from Sun Yat-sen University
At the end of October, Sun-Moonlight online method said that it is expected that the revenue and gross profit margin of the packaging and testing business in the fourth quarter of this year will be equivalent to the average NT$67.863 billion and 20.94% in the first half of the year. In addition, the quarterly revenue growth of the electronics OEM part will also be comparable to the average growth rate of 27.6% in Q2 and Q3 this year, and the profit rate will be slightly better than the average 3.8% in Q2 and Q3.
At present, the biggest uncertainty factor is that the packaging and testing business is affected by US export controls.
Many people say that Taiwan’s semiconductor “invincible fleet” must mention TSMC. In fact, Sun and Moonlight have always been at the forefront of the global competition, but many people inadvertently “ignored” its existence.
In China, semiconductors have been listed as the "top priority". In fact, the semiconductor industry chain includes major links such as raw materials, design, manufacturing, and packaging. Compared with the "bottleneck" of lithography process, semiconductor packaging and testing are usually rarely paid attention to. In fact, this is also an industry that "makes money through silent voices".
encapsulation and testing is actually a combination of packaging and testing. Only when the fully formed chip is final encapsulated and tested can it be packaged and shipped after passing. From the perspective of operation, the packaging and testing is also divided into two major links: front and back end. Judging from the proportion of the top ten global enclosure testing sites in 2019, Taiwan, China accounts for 43.9%, the share of mainland China is 20.1%, the share of the United States is 14.6%, and then it is 2.6% of the Singapore . Sun and Moonlight are a major packaging and testing manufacturer in Taiwan and even the mainland market, with obvious leading advantages.
The "Wenzhou Gang" behind the scenes of Sun and Moonlight Zhang Qiansheng family
Sun and Moonlight Group
2020 Hurun Global Rich List, Sun and Moonlight Zhang Qiansheng family is on the list with a wealth of US$3.9 billion. Sun and Moonlight owns semiconductor and real estate secondary industries, and its investments are widely distributed and unfathomable. Whether its value can be calculated in all of it is probably an unknown.
Light is in the mainland, Sun and Moonlight has invested in and set up factories in Shanghai, Kunshan , Suzhou , Weihai and other places. In addition, it also has real estate layouts in Shanghai, Chongqing and other places. Due to its deep relationship, investment is always unfavorable, such as Shanghai's famous "Sun and Moonlight Plaza".
When Zhang Qiansheng built Sun and Moonlight Square in Shanghai, Lien Zhan went to the platform in person. When the Sun and Moonlight Project in Chongqing broke ground, Wu Boxiong wrote a special inscription on congratulations.
In 2013, Sun and Moonlight Kaohsiung Factory was seized and discharged strong acid wastewater was secretly discharged, and tap water mixed with filling and discharge of running water misleading inspection, which attracted great attention from the society. In 2013 and 2014, negative news about the sun and moonlight came out every few days. Later, Sun and Moonlight invested in the construction of the R&F recycling plant in 2015, which gradually alleviated social concerns about its pollution level.
However, the sun and moonlight can survive, and with the strong pressure of public opinion, it is also related to the support of the characters on the table, such as Chen Ju, the "Flower Mother" who was the mayor of Kaohsiung at the time.
Chen Ju and Chairman Zhang Qiansheng of Sun and Moonlight (right)
Recently, Sun and Moonlight won eight major awards including the "TCSA Taiwan Enterprise Sustainability Award" and the "Supply Chain Management Award". Zhang Qiansheng, chairman of Sun and Moonlight, said that the company has been committed to sustainable operation and investment in environmental protection and charity for many years, and thanks all walks of life for their affirmation of Sun and Moonlight's efforts. He said: "Each award won by is a driving force for surpassing oneself and progress. "
For the , which many people are concerned about, Huawei shipped, at the end of October, Sun and Moonlight CEO Wu Tianyu said that the "ban" against Huawei caused semiconductor manufacturers to be unable to ship to Huawei. In terms of Sun and Moonlight, the packaging and testing revenue affected by export controls was 20% this year in Q1 and Q2, Q3 dropped to 13%, and Q4 was 0%. However, he claimed that more than 75% of the lost revenue and capacity gap have been filled by other customers, and the remaining 25% will be expected to be filled in the first quarter of next year.
For many years, Sun and Moonlight has been cultivating scientific and technological talents through "industry, education and research" cooperation. Sun and Moonlight Semiconductor, a subsidiary of Sun and Moonlight Holdings, has long established a technical cooperation alliance with universities such as Zhongshan and Chenggong, especially talent training in packaging and testing.
Sun Moonlight Chairman Zhang Qiansheng
Sun Moonlight Chairman Zhang Qiansheng, now 76 years old, may be more familiar with him in the mainland's younger brother Zhang Hongben , who is responsible for managing real estate business.
For a long time, the outside world has regarded the brothers Zhang Qiansheng and Zhang Hongben as part of the "Wenzhou Gang". The two are also called "Da Dong" and "Second Dong" within the company. Sun and Moonlight Group was founded in 1984 by the brothers Zhang Qiansheng and Zhang Hongben.
Zhang Qian was born in Yueqing, Wenzhou, Zhejiang Province. His father Zhang Dezi was a Shanghai businessman during the Republic of China period. He engaged in shipping and trade in Shanghai in his early years. Zhang Qiansheng started his business in Taiwan with real estate in his early days. After making his first pot of gold, he invested in semiconductors and established Sun and Moonlight.
Zhang Qiansheng brothers have the unique investment vision of the "Wenzhou Gang" and have always been accurate. Mergers and acquisitions are the key element of scale expansion. There are many listed companies under Sun and Moonlight. Sun and Moonlight was listed on the Taiwan Stock Exchange in 1989 and went public in the United States in 2000.
In addition to "Sun and Moonlight Holdings", Huanxu Electronics (601231), which is listed on the Shanghai Stock Exchange, is also a major electronic design and manufacturing (EMS) manufacturer.
Chairman Zhang Qiansheng,
charity part of Sun and Moonlight, has the "Sun and Moonlight Cultural and Education Foundation" that focuses on education and charity, and also the "Zhang Mama Charity Foundation" named after Zhang Qian's mother Zhang Yaohongying (Note: full name is "Zhang Yaohongying Social Welfare Charity Foundation").
Last year, Zhang Qiansheng was awarded the honorary doctorate of National Sun Yat-sen University. At the ceremony, Zhang Qiansheng emphasized that this special glory was attributed to his mother Zhang Yaohongying who was raised. In his speech, he said that during the period of Sun and Moonlight, he started from Hong Kong Capital and later actively invested and built factories in Kaohsiung. From the initial team of 200 people to today, there are 26,000 employees in the Kaohsiung factory alone, which shows the success of the company's operations.
Mother Zhang Yaohongying was one of the earliest female entrepreneurs in Taiwan. She "departed for the military" and was engaged in real estate. The Zhang Qiansheng brothers belonged to the "second generation of real estate" and also followed her mother to engage in real estate business.
In recent years, the construction of Hongjing of the Zhang Yaohong family has attracted attention in Tucheng development projects. Hongjing Construction was founded by Ms. Zhang Yaohongying, "Mom Zhang". In the early days, it became a hit with the development case of Xizhi Earl Villa and made its first pot of gold.
In addition to later entering the semiconductor industry, Sun and Moonlight business covers Europe, the United States, Japan, the two sides of the Taiwan Strait and Singapore. The real estate under the Zhang Qiansheng family also actively explores the markets in Hong Kong, the United States and the mainland, and quickly accumulates rich wealth. The Zhang family has a high shareholding ratio in Sun and Moonlight Group, but from the current management of the company, it is mainly a team of professional managers operating, and the second generation of the family seems to have not stepped into the center of the career stage.
Zhang Qiansheng and his wife Zhang Xiang Qingping have one son and two daughters, but his wife immigrated to the United States very early, and Zhang Qiansheng is often in charge of company affairs in Taiwan alone.
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