Science and Technology Innovation Board Daily, June 19 (reporter Guo Hui) In the first half of the year, the performance of A-share semiconductor seal test, storage and simulation leading stocks broke out one after another, and the pace of industrial recovery was gradually approaching.
On the evening of June 18, IC high-end advanced packaging test service provider Qizhong Technology Release the performance forecast for the first five months of 2024. According to the preliminary calculation of the financial department of the company, the operating revenue from January to May 2024 will be 774 million yuan, an increase of 38.91% over the same period last year; The net profit attributable to the shareholders of the parent company was 138 million yuan, an increase of about 62.51% over the same period last year.
By the end of May 2024, the balance of undistributed profits of Chizhong Technology was 1.147 billion yuan, an increase of 35.56% over the same period last year. None of the above financial data has been audited by an accounting firm.
At present, the mainland of China has become the largest consumer market of consumer electronics, and from the display panel, display driver IC design, manufacturing, and packaging and testing industries, there is a trend of transfer from South Korea and Taiwan to the mainland of China.
Chizhong Science and Technology said in the survey conducted by institutions in May this year, Thanks to the continuous increase in the penetration rate of AMOLED in mobile phone and tablet applications, the transfer of display panel industry to mainland China, and the improvement of the domestic display chip supply chain, the proportion of AMOLED's revenue has gradually increased, and the proportion of AMOLED's revenue in the first quarter of 2024 is close to 25% 。 At present, the company's main AMOLED customers include Lianyong, Ruiding, Qijing, Yunyinggu, Yuchuang, Shengwei OmniVision Touch and Display、 Jichuang North, etc.
"In the medium and long term, the continuous transfer and development of the semiconductor display industry chain will provide an important market guarantee for the company." Qizhong Technology said that, as the panel factories in mainland China gradually establish a leading position in the world, the upstream wafer manufacturers continue to expand their production capacity, and display drive chip design companies develop rapidly, adding domestic smart phones The competitiveness of high-definition TV terminal manufacturers is constantly improving. The development of the display industry chain in mainland China is a long-term trend. Domestic customers will become an important support for the future development of the company.
The overseas market is also crucial to the technology strategy of Qizhong. Under the trend of industrial transfer, the end customers of overseas chip design companies are also constantly transferring to China. Qizhong Technology said that the company's main business locations are Hefei and Suzhou, which has the geographical advantage of being close to the wafer factory and panel factory. Based on the consideration of market-oriented commercial factors, overseas customers will also continue to maintain a stable cooperative relationship with the company.
It is understood that Qizhong Technology has continued to expand its business coverage and has expanded to customers in Japan, South Korea and other overseas markets.
At present, in the field of display chip sealing and testing, China has formed a series of advanced technologies Huicheng Shares The two leading companies are developing in parallel. Industry insiders said that both companies have at least 15 years of development and technology accumulation, and have formed certain industry barriers. "Display chip sealing and testing mainly uses gold materials in the bump link, and the cost of raw materials accounts for a large proportion. In the preparation process, the two companies have certain advantages over other traditional chip sealing and testing companies in terms of the amount of gold, that is, the cost of sealing and testing."
It is understood that seal testing companies only need to report the amount of gold to customers, and the cost of gold used in production can be basically transferred to downstream customers, who will directly bear the main risk of price fluctuations. Chizhong Technology also said that the recent gold price fluctuations had little impact on the company's product costs.
Non display sealed test business will also be the focus of technology optimization product structure, profit growth and strategic development in the future.
In the first quarter of 2024, the revenue of technology non display business accounted for about 10%. The company said that it would continue to consolidate and strengthen the mass production of advanced chip packaging and testing business in power management, RF front-end, etc. On the basis of existing technologies, the company focuses on the in-depth research and development of various metal bump technologies for 12 inch wafers, and at the same time, vigorously develops bump manufacturing and seal testing businesses based on the second-generation and third-generation semiconductor materials such as gallium arsenide, gallium nitride, lithium tantalate, etc.
SIA predicts that the size of the global semiconductor market will increase by 13.1% year-on-year to 588.4 billion US dollars in 2024, a record high. The gradual recovery of the global semiconductor market will drive the recovery of demand for sealed test. Yole predicted that the global and domestic seal test market size will exceed 5% CAGR from 2023 to 2026, and the future demand will maintain a steady growth.
citic securities According to the research report, the bottom recovery trend of the sealed test industry is significant, and the semiconductor market scale is expected to achieve steady growth throughout the year; At the same time, the price of low-end products has begun to rise, which is expected to spread to the whole industry; The future development trend of advanced packaging is clear, and the current layout leading manufacturers are expected to benefit deeply.
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