Preface:
said the day before yesterday that what you see may not be true, but yesterday the chip stocks collectively reversed, but in fact they slapped the rhythm of the face.
But I still have to say that the differentiation of chip stock market is the general trend and is irreversible.
In addition, some gaps in domestic substitution are far greater than we imagined.
So for the chip industry chain, the focus is on digging deep into segmented industries. This is also my recent attitude. Today I will explore the overlooked core track of the semiconductor industry for you.
1. Event background
Huawei was suspended from supply continues to ferment, which originated from a vague rumor TSMC's rumor that it was a market rumor that the non-acceptance of Huawei orders was a market rumor, which also deepened market concerns, but in turn, accelerated the speed of domestic production.
2. Investment logic
As mentioned earlier, we really have a big gap in chip equipment and materials, so in the short term, the industries that can truly support the domestic chip industry must be those that have already occupied the leading position, such as the chip detection industry.
3. Industry status
High investment and low tolerance for mistakes, chips need to undergo strict verification and testing before and during mass production.
The development of the semiconductor industry will promote the development of the third-party laboratory testing industry. With the rapid development of the domestic semiconductor industry and the division of labor is more refined, outsourcing of laboratory testing business will become a trend in the future, thereby increasing the demand for third-party testing;
Moreover, under the general trend of domestic substitution, the growth of the domestic semiconductor industry has brought about the expansion of production capacity of semiconductor design companies and wafer foundry companies, thereby increasing the demand for third-party testing;
Therefore, the domestic third-party laboratory testing and professional wafer/finished product testing industries will usher in good development opportunities.
4. Industry trends
According to relevant reports, the market size of the domestic semiconductor third-party laboratory testing industry will reach RMB 5 billion in the next 3-5 years. If the upstream wafer manufacturing of industrial, automotive, medical, and military electronics industries needs to be used to verify and analyze midstream and downstream terminal products, the market will reach at least 15-20 billion in 2030, and the market growth is relatively optimistic.
From the current domestic market structure, the companies with higher market share in the domestic market include Yite Technology, Hongkang Technology, China Saipa, Shengke Nano, etc., among which Yite Technology and Hongkang are Wanwan enterprises.
Domestic companies have gradually made efforts in recent years. Sushi Test acquires Shanghai Yite and enters the field of semiconductor detection. Huace Test Semiconductor Business Department's business scope includes integrated circuit , components, PCBA, etc. The public information of the broadcasting and television metrology indicates that the company has launched semiconductor-related fields.
Yite Test has the first third-party verification and analysis laboratory in China that covers the upstream, middle and downstream of the electronics industry chain. The customers currently serving in China include Northern Huachuang, SMIC , Huahong Hongli, Huawei HiSilicon , Huiding Technology, Unigroup Zhanrui, Changdian Technology , Huatian Technology , Tongfu Microelectronic and more than 1,000 customers, including Huawei HiSilicon "Preferred" supplier, Qualcomm 5G module verification laboratory audit.
5. Related industry stocks
Third-party laboratory testing: Sushi test , Huace test , photoelectric measurement, professional third-party wafer/finished product testing enterprise L Liyang chip (SSEO has accepted the application for listing on the Science and Technology Innovation Board)
Postscript:
This is still the idea of digging deep into the leader in segmentation. The above is the direction and idea of my own research, that is, share with you
Author: Concept enthusiast
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