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Via Vincent domestic equipment supplier growth skyrocket I guess no secret there
Semiconductor equipment order tracking: Northern Huachuang gains long-term large-scale orders and accelerates localization of equipment
Category: Industry Organization: Researcher: Date: 2020-10-19
Introduction to this report:
Northern Huachuang secured an order of 350 million yuan from Yangtze River Storage, exceeding the company's total storage orders in Yangtze River in the first three quarters of 2020.
Domestic IC equipment manufacturers continue to make breakthroughs in orders in the front-end field, and 4Q20 and 2021 will continue the trend of high growth.
Summary:
Investment advice. Domestic companies' IC equipment production lines continue to win bids, and the localization of semiconductor equipment continues to advance. Recommend the leading North China Huachuang (002371.SZ), China Micro Company (688012.SH), Xinyuan Micro (688037.SH). At the same time, Shengmei Semiconductor (ACMR.O), Huafeng Measurement and Control (688200.SH), Shenyang Tuojing, Beijing Yitang, Zhongke Feike, Shanghai Microelectronics and other companies will also benefit from industrial development.
Northern Huachuang won an order of 350 million yuan from Yangtze River Storage, and the localization of equipment continued to advance. According to the China International Bidding Network, North Huachuang won the bid for 9 etching equipment (including 7 silicon etching and 2 metal etching) and 29 furnace tubes in the 40th batch of Yangtze River Storage. The estimated corresponding value is 350 million ( Since 2020, North Huachuang’s confirmed orders in Yangtze River Storage is 550 million yuan), exceeding the company’s total storage orders in Yangtze River in the first three quarters of 2020. This is the company's success in winning three orders for Cubs PVD from Yangtze River Storage in the first three quarters of 2020. The Cubs field breaks the AMAT monopoly After another major breakthrough.
Domestic IC equipment manufacturers continue to make breakthroughs in orders in the front-end field. 3Q20 hit a record high, and 4Q20 and 2021 continue the high growth trend. According to the bidding website, we counted 10 domestic equipment factories such as North Huachuang, China Micro, Shengmei, Xinyuan Weijing, and 6 production lines including Yangtze River Storage, Huali Micro, and Jita. The total number of winning equipment in 3Q20 was 89 units, an increase of about 100% month-on-month and an increase of 300% year-on-year. Through the tracking of the industry chain and order winning bids, we expect the high growth trend in 4Q20 and 2021 to continue, and the large orders of North China Chuang in the fourth quarter are only the beginning.
Earnings turning point + localization rate turning point, domestic equipment leaders are entering a new stage of growth. Based on the statistics of domestic and foreign IC equipment start-up companies, we have determined that the profit turning point lies in the revenue range of 700 to 1 billion yuan. Currently, domestic manufacturers have broken through this turning point and are moving further towards the growth stage. At the same time, according to order tracking, companies such as North Huachuang, China Micro, Xinyuan Micro, Shengmei Semiconductor and other companies have more than 15% of the mainstream downstream production lines, and many DEMO machines are in the stage of receiving repetitive orders. We expect downstream The inflection point of the accelerated increase in production line localization rate will also come.
risk warning. The pulling effect of wafer fab construction is not as expected; the localization rate of equipment is not as expected; the uncertainty of Sino-US trade friction.
Semiconductor equipment order tracking: Northern Huachuang gains long-term large-scale orders and accelerates localization of equipment
Category: Industry Organization: Researcher: Date: 2020-10-19
Introduction to this report:
Northern Huachuang secured an order of 350 million yuan from Yangtze River Storage, exceeding the company's total storage orders in Yangtze River in the first three quarters of 2020.
Domestic IC equipment manufacturers continue to make breakthroughs in orders in the front-end field, and 4Q20 and 2021 will continue the trend of high growth.
Summary:
Investment advice. Domestic companies' IC equipment production lines continue to win bids, and the localization of semiconductor equipment continues to advance. Recommend the leading North China Huachuang (002371.SZ), China Micro Company (688012.SH), Xinyuan Micro (688037.SH). At the same time, Shengmei Semiconductor (ACMR.O), Huafeng Measurement and Control (688200.SH), Shenyang Tuojing, Beijing Yitang, Zhongke Feike, Shanghai Microelectronics and other companies will also benefit from industrial development.
Northern Huachuang won an order of 350 million yuan from Yangtze River Storage, and the localization of equipment continued to advance. According to the China International Bidding Network, North Huachuang won the bid for 9 etching equipment (including 7 silicon etching and 2 metal etching) and 29 furnace tubes in the 40th batch of Yangtze River Storage. The estimated corresponding value is 350 million ( Since 2020, North Huachuang’s confirmed orders in Yangtze River Storage is 550 million yuan), exceeding the company’s total storage orders in Yangtze River in the first three quarters of 2020. This is the company's success in winning three orders for Cubs PVD from Yangtze River Storage in the first three quarters of 2020. The Cubs field breaks the AMAT monopoly After another major breakthrough.
Domestic IC equipment manufacturers continue to make breakthroughs in orders in the front-end field. 3Q20 hit a record high, and 4Q20 and 2021 continue the high growth trend. According to the bidding website, we counted 10 domestic equipment factories such as North Huachuang, China Micro, Shengmei, Xinyuan Weijing, and 6 production lines including Yangtze River Storage, Huali Micro, and Jita. The total number of winning equipment in 3Q20 was 89 units, an increase of about 100% month-on-month and an increase of 300% year-on-year. Through the tracking of the industry chain and order winning bids, we expect the high growth trend in 4Q20 and 2021 to continue, and the large orders of North China Chuang in the fourth quarter are only the beginning.
Earnings turning point + localization rate turning point, domestic equipment leaders are entering a new stage of growth. Based on the statistics of domestic and foreign IC equipment start-up companies, we have determined that the profit turning point lies in the revenue range of 700 to 1 billion yuan. Currently, domestic manufacturers have broken through this turning point and are moving further towards the growth stage. At the same time, according to order tracking, companies such as North Huachuang, China Micro, Xinyuan Micro, Shengmei Semiconductor and other companies have more than 15% of the mainstream downstream production lines, and many DEMO machines are in the stage of receiving repetitive orders. We expect downstream The inflection point of the accelerated increase in production line localization rate will also come.
risk warning. The pulling effect of wafer fab construction is not as expected; the localization rate of equipment is not as expected; the uncertainty of Sino-US trade friction.
