Chinese semiconductor industry
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Some products have entered the 7nm process, and Fuchuang Precision, which has raised 1.6 billion yuan, has become a "dark horse" in the industry
2022-08-01 23:03 HKT
Under the general trend of domestic substitution, it has become a market consensus that semiconductor equipment and semiconductor materials have become the most prosperous segment of the semiconductor industry. But in addition, the precision parts of semiconductor equipment is also an area worthy of attention. The growth of this industry is not inferior to equipment and materials, which can be seen in Fuchuang Precision's prospectus. Zhitong Finance APP has learned that Fuchuang Precision is a supplier of precision components in semiconductor equipment, pan-semiconductor equipment and other fields. Fuchuang Precision, which submitted the prospectus of the Science and Technology Innovation Board to the Shanghai Stock Exchange on December 10, 2021, has been in May. It was approved by the listing committee meeting on the 5th. In this IPO, Fuchuang Precision intends to raise 1.6 billion yuan, and CITIC Securities is its sponsor. According to the prospectus, thanks to the development of the company's overseas customers and the general trend of domestic substitution in the domestic semiconductor industry, Fuchuang Precision's revenue from 2019 to 2021 will be 253 million, 481 million, and 843 million, respectively, with a compound annual growth rate of 82.2%. ; The net profit after deducting non-return to the parent in the same period was -60.1699 million, 31.6111 million and 74.8473 million respectively, which also showed explosive growth. Why has Fuchuang Precision achieved outstanding performance? Can the company continue to maintain rapid growth? What problems are behind it? Through the prospectus, you can find out. After three stages of accumulation and precipitation, some products enter the 7nm process "One generation of technology, one generation of technology, one generation of equipment" is the basic industrial law of the semiconductor industry, and semiconductor equipment is the bottleneck and key to continuing "Moore's Law". Most of the key core technologies of the equipment need to be realized on the precision parts or using the precision parts as the carrier. Therefore, the precision parts of the semiconductor equipment need to have high precision, high cleanliness, super corrosion resistance, and breakdown voltage resistance. and other characteristics, which makes semiconductor precision parts one of the most difficult and high-tech links in semiconductor equipment manufacturing, and also one of the "neck" links for domestic semiconductor equipment companies. Fuchuang Precision has been rooted in the semiconductor precision parts industry since its establishment, and it has been 14 years. Looking back on its growth history, it has gone through three stages of development. The first stage was from its establishment in 2008 to 2014. During this period, Fuchuang Precision carried out process accumulation and technical research. Most of the self-developed products are 90nm and above, realized the localization of some precision components, and successfully delivered the first precision component product to the leading international semiconductor equipment customer A, becoming its qualified supplier. The second stage is from 2014 to 2018. During this stage, Fuchuang Precision achieved rapid development. The process and technology below 28nm continued to make breakthroughs, and customer expansion also achieved results. The company was upgraded to become a strategic supplier of customer A, and It has become a supplier of internationally renowned companies such as Tokyo Electronics and VAT, and also provides products and services to companies such as North China Creation, Zhongkexin Equipment, and Tuojing Technology in the domestic market. The third stage is from 2018 to the present. Fuchuang Precision has achieved rapid development. The company has not only entered the supply chain system of many leading global semiconductor equipment manufacturers such as HITACHI High-Tech and ASML, but also realized the correctness under the general trend of domestic substitution. The mass production of mainstream domestic semiconductor equipment manufacturers has continuously increased the domestic income scale. According to the prospectus, up to now, Fuchuang Precision has entered the customer supply chain system including not only internationally renowned semiconductor equipment companies, such as Customer A, Tokyo Electronics, HITACHI High-Tech and ASMI, etc., but also North Huachuang, Yitang Co., Ltd. , Zhongwei Company, Tuojing Technology, Huahai Qingke, Xinyuanwei, Zhongkexin Equipment, Keystone, etc. domestic mainstream semiconductor equipment companies. In terms of products, Fuchuang Precision's product categories continue to expand. Among the seven major semiconductor equipment components, the company has included four categories: process components, structural components, modules, and gas pipelines. With the improvement of the manufacturing capacity of gas pipelines and functional modules of modules, the company has actively expanded production capacity in Nantong, Jiangsu and Yizhuang, Beijing. At the same time, some of Fuchuang Precision's high-end products have been applied to 7nm process semiconductor equipment. From 2019 to 2021, the revenue from 7nm process semiconductor equipment accounted for 3.54%, 8.42%, and 2.52%, respectively...
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2022-08-01 23:03 HKT
Under the general trend of domestic substitution, it has become a market consensus that semiconductor equipment and semiconductor materials have become the most prosperous segment of the semiconductor industry. But in addition, the precision parts of semiconductor equipment is also an area worthy of attention. The growth of this industry is not inferior to equipment and materials, which can be seen in Fuchuang Precision's prospectus. Zhitong Finance APP has learned that Fuchuang Precision is a supplier of precision components in semiconductor equipment, pan-semiconductor equipment and other fields. Fuchuang Precision, which submitted the prospectus of the Science and Technology Innovation Board to the Shanghai Stock Exchange on December 10, 2021, has been in May. It was approved by the listing committee meeting on the 5th. In this IPO, Fuchuang Precision intends to raise 1.6 billion yuan, and CITIC Securities is its sponsor. According to the prospectus, thanks to the development of the company's overseas customers and the general trend of domestic substitution in the domestic semiconductor industry, Fuchuang Precision's revenue from 2019 to 2021 will be 253 million, 481 million, and 843 million, respectively, with a compound annual growth rate of 82.2%. ; The net profit after deducting non-return to the parent in the same period was -60.1699 million, 31.6111 million and 74.8473 million respectively, which also showed explosive growth. Why has Fuchuang Precision achieved outstanding performance? Can the company continue to maintain rapid growth? What problems are behind it? Through the prospectus, you can find out. After three stages of accumulation and precipitation, some products enter the 7nm process "One generation of technology, one generation of technology, one generation of equipment" is the basic industrial law of the semiconductor industry, and semiconductor equipment is the bottleneck and key to continuing "Moore's Law". Most of the key core technologies of the equipment need to be realized on the precision parts or using the precision parts as the carrier. Therefore, the precision parts of the semiconductor equipment need to have high precision, high cleanliness, super corrosion resistance, and breakdown voltage resistance. and other characteristics, which makes semiconductor precision parts one of the most difficult and high-tech links in semiconductor equipment manufacturing, and also one of the "neck" links for domestic semiconductor equipment companies. Fuchuang Precision has been rooted in the semiconductor precision parts industry since its establishment, and it has been 14 years. Looking back on its growth history, it has gone through three stages of development. The first stage was from its establishment in 2008 to 2014. During this period, Fuchuang Precision carried out process accumulation and technical research. Most of the self-developed products are 90nm and above, realized the localization of some precision components, and successfully delivered the first precision component product to the leading international semiconductor equipment customer A, becoming its qualified supplier. The second stage is from 2014 to 2018. During this stage, Fuchuang Precision achieved rapid development. The process and technology below 28nm continued to make breakthroughs, and customer expansion also achieved results. The company was upgraded to become a strategic supplier of customer A, and It has become a supplier of internationally renowned companies such as Tokyo Electronics and VAT, and also provides products and services to companies such as North China Creation, Zhongkexin Equipment, and Tuojing Technology in the domestic market. The third stage is from 2018 to the present. Fuchuang Precision has achieved rapid development. The company has not only entered the supply chain system of many leading global semiconductor equipment manufacturers such as HITACHI High-Tech and ASML, but also realized the correctness under the general trend of domestic substitution. The mass production of mainstream domestic semiconductor equipment manufacturers has continuously increased the domestic income scale. According to the prospectus, up to now, Fuchuang Precision has entered the customer supply chain system including not only internationally renowned semiconductor equipment companies, such as Customer A, Tokyo Electronics, HITACHI High-Tech and ASMI, etc., but also North Huachuang, Yitang Co., Ltd. , Zhongwei Company, Tuojing Technology, Huahai Qingke, Xinyuanwei, Zhongkexin Equipment, Keystone, etc. domestic mainstream semiconductor equipment companies. In terms of products, Fuchuang Precision's product categories continue to expand. Among the seven major semiconductor equipment components, the company has included four categories: process components, structural components, modules, and gas pipelines. With the improvement of the manufacturing capacity of gas pipelines and functional modules of modules, the company has actively expanded production capacity in Nantong, Jiangsu and Yizhuang, Beijing. At the same time, some of Fuchuang Precision's high-end products have been applied to 7nm process semiconductor equipment. From 2019 to 2021, the revenue from 7nm process semiconductor equipment accounted for 3.54%, 8.42%, and 2.52%, respectively...
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So we know that as far back as 2019 AMEC is working to create products that achieve the 3D nand capability. That's a decent amount of time.
So how long do you think it will take China to produce an EUV?
Even if it does cost $50 million, isn't that better than using DUV. I could be wrong on this, but I'm pretty sure using EUV would provide more yields.
We don't have firm proof on DUV at leading DUV nodes (or even effective commercialization at legacy nodes). There's a laid out path on EUV / similar to what we've seen in other industries imagine China will follow a similar path - so see what they have vs what they don't have and interpolate. YMTC's issues seem more fixable near-term though - question lies in what domestic DUV / AMEC capabilities are.
there will be special news about EUV at the end of 2024... you won't wait long...
Where did you come up with this timeline? You stated 2024 - but are there statements / announcements ... ? I prefer dicussion stays on track of observed data points.
Just 2 more years? That's really short. I thought people were saying it would China 10 years to develop EUV.
1511 pages filled with b/s like this sigh …
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