Chinese semiconductor thread II

[tokenanalyst]

Hesai Technology achieved a 45.8% year-on-year increase in revenue to RMB 3.028 billion, becoming the world's first company​

Hesai Technology announced a historic milestone as the first company in the LiDAR industry to achieve full-year profit under US GAAP standards. The firm reported net revenue of RMB 3.028 billion for fiscal year 2025, representing a robust 45.8% increase from the previous year. This financial turnaround resulted in a GAAP net profit of RMB 436 million and an astounding non-GAAP net profit of RMB 551 million—a surge of 3922% year-over-year—effectively breaking decades of industry losses associated with LiDAR development.

The surge in profitability was driven by explosive demand across automotive and robotics sectors, leading to a dramatic jump in shipments. Hesai delivered 1.6204 million units of LiDAR globally in 2025, a 222.9% year-on-year increase that solidified its status as the world's leading manufacturer by volume. Its core automotive ADAS segment saw a 202.6% rise with over 1.38 million units shipped, securing a dominant 40% global market share, while the robotics division experienced a staggering 425.8% growth, becoming its second key growth curve with nearly 240,000 units delivered to humanoid and service robot applications.

Beyond sales figures, Hesai strengthened its technological moat and strategic partnerships during the year. The company launched the Fermi C500 dedicated main control chip and deployed patented "photonic isolation" technology to enhance product performance and reliability. A major strategic win came with a partnership as NVIDIA's primary LiDAR partner for the DRIVE Hyperion 10 platform, integrating Hesai into the world's top intelligent driving ecosystem. To meet surging global demand, Hesai also accelerated its production capacity, planning to expand annual output to over 4 million units by 2026 through both domestic scaling and new overseas manufacturing facilities.

Financially, the company demonstrated extreme resilience with cash reserves reaching RMB 7.511 billion and a debt-to-asset ratio dropping to a low of 20.4%. This strong balance sheet allowed Hesai to continue heavy investments in R&D while maintaining positive operating cash flow for three consecutive years. Looking ahead, management provided optimistic guidance for the first quarter of 2026, projecting revenue between RMB 650 million and RMB 700 million (a 24–33% increase), signaling that Hesai is well-positioned to sustain its high-growth trajectory as the global LiDAR market transitions into a mature, profitability-driven phase.

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[tokenanalyst]

Huahong Grace Semiconductor manufactures the first batch of STM32 microcontrollers made in China, which are now being shipped.​

STMicroelectronics has successfully initiated shipments of its first batch of locally manufactured STM32 microcontrollers in China, marking a pivotal milestone in the company's global supply chain strategy. This breakthrough was achieved through a collaboration with Huahong Grace Semiconductor, which produced the initial wafers using advanced 40nm embedded non-volatile memory (eNVM) technology that aligns perfectly with ST's worldwide standards. By establishing this "In China, For China" ecosystem, STMicroelectronics has become the first semiconductor firm to create a globally unified product standard based on a dual supply chain system, ensuring complete design and technical consistency between Chinese-made chips and those produced overseas.

To deliver a fully localized manufacturing experience without compromising quality, the company has integrated its production across multiple stages within China. The process begins with wafer fabrication by Huahong Grace Semiconductor, which leverages fifteen years of partnership to maintain rigorous quality control comparable to ST's global fabs. Subsequently, the chip packaging and testing are handled jointly by STMicroelectronics' own Shenzhen facility and a local outsourced semiconductor assembly and testing (OSAT) partner. This end-to-end localization allows domestic customers to choose between Chinese or overseas manufactured units while enjoying seamless compatibility, superior quality assurance, and consistent performance across their industrial, consumer, and medical applications.

The initiative has already launched with the STM32H7 series, a mature high-performance microcontroller family designed for demanding tasks such as smart home automation, personal electronics, and advanced graphics displays in industrial settings. Looking ahead, STMicroelectronics plans to expand this localized portfolio to include additional product families by the end of 2026, specifically targeting broader market segments with the STM32H5 series for data center optical modules and high-security consumer systems, as well as the entry-level STM32C5 series for applications ranging from motor control in home appliances to wearable devices. This strategic expansion aims to provide a comprehensive suite of microcontrollers that cater to diverse needs while strengthening China's position within the global semiconductor supply chain.

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[tokenanalyst]

Focusing on integrated circuit equipment, the nation's first AIC industry M&A fund was launched.​

On March 23, China Construction Bank and Shanghai State-owned Capital Investment Co., Ltd. (hereinafter referred to as "Shanghai State-owned Capital") held the unveiling ceremony of the first national AIC industrial M&A fund and the launch event of the Shanghai State-owned Capital-China Construction Bank "Investment and Loan" product in Shanghai.

The fund was officially established on September 30, 2025, with an initial fundraising scale of RMB 5.702 billion. It was jointly initiated by CCB Investment on behalf of CCB Group, Shanghai State-owned Investment Corporation and its fund manager Futeng Capital. It is an important achievement of Shanghai State-owned Investment Corporation in expanding its patient capital, deepening cooperation with central state-owned financial institutions, and providing precise support for strategic industries.

The fund will focus on key core areas of integrated circuit equipment, providing capital support for industrial mergers and acquisitions, resource integration, and technological iteration, and injecting long-term capital into the M&A transaction and industrial investment market.

At the event, the Shanghai Guotou-China Construction Bank "Investment-Based Loan" product was also launched. This product adopts an equity-loan linkage model, providing efficient, precise, and direct comprehensive financial services to build a full-cycle, integrated financial solution for high-quality technology companies.

Currently, Shanghai is accelerating the construction of "five centers" and making every effort to strengthen its role as a source of scientific and technological innovation and a leader in high-end industries. The successful launch of the nation's first AIC industry M&A fund and the innovative release of the "investment-on-delivery" product represent significant practices in deepening strategic collaboration and innovating service models between Shanghai State-owned Investment Corporation and China Construction Bank. This will inject new momentum into the high-quality development of Shanghai's integrated circuit industry, provide technology companies with full-cycle financial support, and jointly build a new high ground for science and technology finance in Shanghai.

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[ForcedTrend]

was this posted?

https://twitter.com/i/web/status/2036300309153370308

 

[tokenanalyst]

was this posted?

https://twitter.com/i/web/status/2036300309153370308

In 2015 the goal in China for lithography for 2025-30 was to create nationwide lithography supply chain ecosystem for:

DUV I-Line for 250nm-> unchanged
DUV KrF for 130nm ->unchanged
DUV ArF for 90nm -> upgraded to 65nm because sanctions
DUV ArF Immersion for 45nm-> upgraded to 28/14 nm because sanctions
EUV for 32nm-> upgraded to 7nm because sanctions

All was in the resolution limit of each system because allows ultraprecise positioning to be less than a challenge. The first EUV technology prototype of this machine was 2017, I don't think China stopped developing EUV since then.

 

[tokenanalyst]

Research progress on high-brightness high-harmonic extreme ultraviolet light sources​

Extreme ultraviolet (EUV) high-harmonic generation sources are high-energy photonic coherent radiation sources generated by the strong nonlinear interaction between high-power femtosecond lasers and inert gases. Due to their excellent coherence and narrow pulse width characteristics, they have important applications in attosecond lasers, attosecond science, time-resolved photoelectron spectroscopy, photolithography, and semiconductor wafer inspection. However, the relatively low conversion efficiency of gas high-harmonic generation sources limits their applications, making it crucial to improve conversion efficiency and obtain high-brightness EUV sources a key research direction in ultrafast lasers.


To improve brightness, the HX-07 research group at the Institute of Physics, Chinese Academy of Sciences/Beijing National Research Center for Condensed Matter Physics, addressed the issue from two aspects: the design of the driving light source and the gas target, utilizing the comprehensive extreme condition experimental facility. They improved conversion efficiency and high-harmonic brightness by employing a high-power femtosecond laser and increasing phase matching in the interaction region. Regarding the driver, they independently developed a femtosecond laser with a repetition rate of 1 MHz and an average power of 200 W. Through a fused silica sheet multi-cavity spectral broadening and compression scheme, they achieved an 8-fold reduction in pulse width and increased the peak power to 5.35 GW, which is beneficial for generating high-brightness high-harmonic waves. For the gas target, they carefully studied the relationship between gas density distribution and nozzle size and position, designed a differential structure gas target, increased the gas density in the interaction region, reduced the background pressure, and optimized phase matching to improve conversion efficiency.

Based on the above two aspects of research, a high-harmonic XUV light source with photon energy ranging from 20.47 eV to 46.95 eV was finally obtained, with a single-order luminance of 1.07 × 10¹¹ phs/s. The entire process of this light source, from driving the laser to generating high-harmonics, selecting single-order components, transmission, and focusing, was independently developed. It not only has internationally advanced performance indicators but also achieves domestic substitution.

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[tokenanalyst]

Shanghai Hanhong Precision Machinery achieves breakthrough with 12-inch silicon carbide ingot growth.​

As a key subsidiary of Ferrotec Group, Shanghai Hanhong has successfully grown 12-inch silicon carbide (SiC) ingots under laboratory conditions using its independently developed resistance-type PVT crystal growth furnace and advanced hot zone process. This milestone marks a significant shift from single equipment manufacturing to an integrated "equipment + process" capability.


The success overcomes long-standing challenges such as temperature field uniformity control, crystal cracking prevention, and micro-bulge adjustment. Dual-Technology Capability, While the 12-inch PVT ingot was a primary focus, the company is also advancing 8-inch Liquid Phase Epitaxy (LPE) technology and developing its own 12-inch LPE solutions, covering various application scenarios. End-to-End Solutions, Beyond hardware manufacturing, Hanhong provides full-process optimization support, from equipment commissioning to final process refinement, aiming to shorten mass production cycles for third-generation semiconductors.

This breakthrough validates the company's comprehensive strength in optimizing both hardware and processes, positioning it as a critical player in the localization of core semiconductor equipment.

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[tokenanalyst]

Peking University has developed an "all-diamond-manifold microchannel" radiator, breaking through the limits of traditional heat dissipation technology.​

Peking University researchers, led by Professor Wang Wei, have developed a groundbreaking "all-diamond-manifold microchannel" radiator that overcomes the thermal limitations of traditional silicon-based cooling systems. As high-performance electronic devices demand greater power density, standard silicon heat sinks struggle with high pressure drops and uneven temperature distribution due to their material properties. By replacing silicon with diamond which boasts ultra-high thermal conductivity and integrating it into an embedded manifold structure for efficient coolant redistribution, the team created a solution that reduces diffusion resistance by over 90% while significantly improving convective heat transfer capabilities.

The new device has demonstrated exceptional performance in dissipating extreme heat flux densities under realistic testing conditions. For small hotspots measuring just 1 mm × 1 mm, the system successfully managed a power density of 10,000 W/cm² while keeping temperature rises below 120 °C. Similarly, for larger areas of 3.4 mm × 3.3 mm, it maintained a modest rise of only 42 °C at a flux of 1,000 W/cm², achieving an effective heat transfer coefficient as high as 1.3 × 10⁵ W/(m²·K). These results highlight the synergy between diamond's material properties and the manifold design's fluid dynamics in creating superior thermal management.



This research marks a significant advancement in thermal engineering, published in the International Journal of Heat and Mass Transfer, offering a viable path for future technologies requiring ultra-high heat dissipation. The collaboration among Peking University, the Beijing Institute of Remote Sensing Equipment, and the University of Science and Technology Beijing aims to address critical bottlenecks in modern electronics. By breaking through the limits of silicon substrates, this "full diamond" approach paves the way for more reliable high-power chips, advanced radar systems, and next-generation high-energy laser applications.

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[spaceship9876]

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[tokenanalyst]

Improved uniformity and performance of GAAFETs via full bottom dielectric isolation and quasi-self-aligned landing pads​

Institute of Microelectronics of the Chinese Academy of Sciences​

Abstract​

This study systematically compares the electrical performance of stacked Si nanosheet gate-all-around field-effect transistors (GAAFETs) fabricated on bulk Si versus silicon-on-insulator (SOI) substrates. The SOI GAAFETs with full bottom dielectric isolation (FBDI) exhibit a reduction in off-state leakage (Ioff) by approximately one order of magnitude and achieve obvious threshold voltage (Vt) uniformity improvements compared to bulk GAAFETs. Moreover, by implementing quasi-self-aligned landing pads (QSA LPs) with reducing the spacing of LPs (SLPs = 0.18 μm) to gate length (Lg), the parasitic source/drain resistance (RSD) decreases by approximately 80%, resulting in drive current (Ion) enhancements of 121% for nFETs and 152% for pFETs, respectively. In addition, the device-level improvements enable a 37.56% reduction in ring oscillator (ROs) stage delay and a 35.5% reduction in static leakage current (IDDSB) of the 4-bit static random-access memory (SRAM) circuits, demonstrating the significant advantages of SOI-based GAAFETs technology for advanced node integrated circuits.​

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