With a three-digit bottom, domestic semiconductor companies have grown wildly in the first half of the year
Latest update time：2021-09-06 17:23
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In the first half of 2021, the entire semiconductor industry chain has basically ushered in a period of rapid growth, and the financial statements are impressive. In all aspects of the semiconductor industry, such as chip design, packaging and testing, equipment and even wafer foundry, the net profits of listed companies in this industry chain have basically achieved triple-digit growth, and some companies' net profits have even reached four digits. This can be said to be a shot in the arm for the rise of my country's semiconductor companies.
Semiconductor chip design
The semiconductor chip design industry is characterized by being "small but beautiful", with an overall gross profit margin of more than 30%, and is an asset-light model. Chip design can be said to be the most profitable link in the semiconductor industry chain. Here, we have reviewed the financial reports of several representative semiconductor chip design companies in the first half of the year.
Will Semiconductor is mainly engaged in semiconductor product design business and semiconductor product distribution business. The semiconductor product design business is mainly composed of three business systems: image sensor solutions, touch and display solutions, and analog solutions.
In the first half of 2021, the company achieved total operating revenue of 12.448 billion yuan, an increase of 54.77% over the same period last year. Net profit attributable to shareholders of listed companies
was 2.244 billion yuan, a year-on-year increase of 126.60%. Among them, the company's semiconductor design business revenue in the first half of the year was 10.549 billion yuan, accounting for 85.07% of the main business revenue, an increase of 53.07% over the semiconductor design business revenue in the same period last year. In the first half of 2021, CMOS image sensor chips achieved operating revenue of 9.082 billion yuan, accounting for 86.10% of the company's semiconductor product design and research and development business operating revenue in the first half of 2021. The touch and display solution business achieved operating revenue of 613 million yuan, accounting for 5.81% of the company's semiconductor product design and research and development business operating revenue in the first half of 2021.
Will Semiconductor's financial overview for the first half of 2021 (Source: Company financial report)
GigaDevice's main businesses are memory, microcontrollers and sensors.
In the first half of 2021, the company achieved operating income of 3.641 billion yuan, an increase of 119.62% over the same period in 2020, and net profit attributable to shareholders of listed companies of 786 million yuan, an increase of 116.32% over the same period in 2020.
Among them, the memory business increased by about 1.283 billion yuan, the microcontroller business increased by about 550 million yuan, and the sensor business increased by about 148 million yuan.
GigaDevice's financial overview for the first half of 2021 (Source: Company financial report)
Silan Microelectronics' main products include integrated circuits, semiconductor discrete devices, and LED (light-emitting diode) products.
In the first half of 2021, the company's total operating revenue was 3.3 billion yuan, an increase of 94.05% over the first half of 2020; the company's net profit attributable to shareholders of the parent company was 430 million yuan, an increase of 1,306.52% over the first half of 2020.
In the first half of 2021, the company's operating profit and total profit both turned losses into profits.
Silan Microelectronics' financial overview for the first half of 2021 (Source: Company financial report)
Due to the impact of the COVID-19 pandemic and changes in the international situation, Goodix Technology's operating income in the first half of the year decreased slightly.
In the first half of 2021, the company achieved operating income of 2.91 billion yuan, a decrease of 4.78% from the operating income of 3.056 billion yuan in the first half of 2020. The net profit attributable to the owners of the parent company was 421 million yuan, a year-on-year decrease of 29.60%
. The company achieved a comprehensive gross profit margin of 48.94% in the first half of 2021, a year-on-year decrease of 2.69 percentage points, and a net profit margin of 14.45%, a year-on-year decrease of 5.10 percentage points.
Goodix Technology's financial overview for the first half of 2021 (Source: Company financial report)
Zhuoshengwei mainly provides the market with RF front-end discrete devices and various module products such as RF switches, RF low-noise amplifiers, RF filters, and RF power amplifiers. At the same time, the company also provides low-power Bluetooth microcontroller chips.
In the first half of 2021, the company achieved operating income of 2.359 billion yuan, a year-on-year increase of 136.48%; the net profit attributable to the parent company's shareholders was 1 billion yuan, a year-on-year increase of 187.37%.
Zhuoshengwei's financial overview for the first half of 2021 (Source: Company financial report)
Beijing Ingenic mainly has two product lines: microprocessor chips and smart video chips. Through the acquisition of Beijing Sicheng, the company has integrated circuit memory chips, analog chips and interconnect chip product lines.
In the first half of 2021, the company achieved operating income of 2.33 billion yuan, a year-on-year increase of 588.46%, and net profit of 355 million yuan, a year-on-year increase of 2994.80%.
Beijing Junzheng's financial overview for the first half of 2021 (Source: Company financial report)
Rockchip's products mainly include intelligent application processor chips, power management chips, interface conversion chips, wireless connection chips and combination devices related to self-developed chips.
In the first half of 2021, the company achieved operating income of 1.378 billion yuan, a year-on-year increase of 104.50%, and net profit attributable to shareholders of listed companies was 260 million yuan, a year-on-year increase of 184.70%.
Rockchip's financial overview for the first half of 2021 (Source: Company financial report)
Star Semiconductor is a leading company in power semiconductors. In the first half of 2021, the sales revenue of IGBT modules accounted for more than 95% of the company's main business revenue and is the company's main product. In
the first half of 2021, the company achieved operating income of 720 million yuan, an increase of 72.62% over the same period in the first half of 2020, and realized a net profit attributable to shareholders of listed companies of 150 million yuan, an increase of 90.88% over the same period in the first half of 2020
.
Star Semiconductor's financial overview for the first half of 2021 (Source: Company financial report)
Semiconductor Packaging and Testing
The semiconductor packaging and testing link is the link with the highest degree of localization and the most mature industry development in the current domestic semiconductor industry chain. Changdian Technology, Huatian Technology, and Tongfu Microelectronics are also known as the three musketeers of packaging and testing. Without exception, the revenue and profit of the packaging and testing industry in the first half of the year were very impressive.
Changdian Technology focuses on key application areas and has industry-leading advanced semiconductor packaging technologies (such as SiP, WL-CSP, FC, eWLB, PiP, PoP and 2.5D/3D packaging under development, etc.) and mixed-signal/RF integrated circuit testing and resource advantages in important fields such as 5G communications, high-performance computing, consumer, automotive and industrial, and has achieved large-scale mass production. According to the revenue ranking of the top ten global packaging and testing companies in the first quarter of 2021 released by TrendForce, Changdian Technology's revenue ranked third among the top ten global OSAT manufacturers and first in mainland China.
The company achieved operating income of 13.82 billion yuan in the first half of 2021, a year-on-year increase of 15.4%; net profit attributable to shareholders of listed companies was 1.32 billion yuan, a year-on-year increase of 260.97%
.
Overview of Changdian Technology's financials for the first half of 2021 (Source: Company financial report)
Tongfu Microelectronics is the second largest company in China and the fifth largest in the world in the packaging and testing industry. At present, the company's 2.5D/3D packaging product technology has been approved; in the storage field, for new products such as DDR5, new equipment settings, new material verification and related process reserves have been completed; in the field of new energy vehicles, the company focuses on power module technology development; in the field of FCBGA: 6 ultra-large-size FCBGA samples have been successfully produced, and the process capability of 5nm products has been obtained and relevant certifications have been completed.
In the first half of 2021, Tongfu Microelectronics achieved operating income of 7.089 billion yuan, a year-on-year increase of 51.82%, and net profit of 412 million yuan, a year-on-year increase of 219.13%. Both revenue and profit hit historical highs.
Tongfu Microelectronics' financial overview for the first half of 2021 (Source: Company financial report)
Huatian Technology's main businesses are integrated circuit packaging products and LEDs. The 2020 financial report shows that the two businesses accounted for 98.22% and 1.78% of its revenue respectively.
Huatian Technology's operating income in the first half of 2021 was 5.6 billion yuan, a year-on-year increase of 67.6%; the net profit attributable to shareholders of the listed company was approximately 613 million yuan, a year-on-year increase of 129.49%.
Huatian Technology's financial overview for the first half of 2021 (Source: Company financial report)
Jingfang Technology is a global pioneer and leader in the application of wafer-level chip scale packaging (WLCSP) in the sensor field represented by image sensors. The company mainly focuses on packaging and testing business in the sensor field, and also has 8-inch and 12-inch wafer-level chip scale packaging technology mass production packaging lines. The packaging products mainly include image sensor chips, biometric identification chips, etc.
In the first half of 2021, the company achieved sales revenue of 690 million yuan, a year-on-year increase of 53%, operating profit of 300 million yuan, a year-on-year increase of 76%, and net profit of 260 million yuan, a year-on-year increase of 72%
.
Overview of Jingfang Technology's financials for the first half of 2021 (Source: Company financial report)
Semiconductor Equipment
China has made great progress in the field of semiconductor equipment in recent years, and many equipment companies have achieved domestic substitution. In addition, due to the shortage of chips in the first half of the year, the demand for equipment increased significantly, and domestic semiconductor equipment companies also achieved good revenue results.
NAURA mainly produces electronic process equipment and electronic components. It is a mainstream high-end electronic process equipment supplier in China and an important production base for high-precision electronic components. Electronic process equipment mainly includes semiconductor equipment, vacuum equipment and
lithium battery equipment, such as oxidation furnaces, etchers, LPCVD, PVD, cleaning equipment, etc.;
electronic components mainly include resistors, capacitors, crystal devices, module power supplies, microwave components, etc.
In the first half of the year, North Huachuang achieved operating income of 3.608 billion yuan, a year-on-year increase of 65.75%
, and
net profit attributable to shareholders of listed companies of 310 million yuan, a year-on-year increase of 68.60%
.
Financial overview of North Huachuang in the first half of 2021 (Source: Company financial report)
AMEC mainly produces semiconductor etching equipment and MOCVD equipment for LEDs. In terms of etching equipment, AMEC has produced two types of plasma etchers, CCP and ICP. It is worth mentioning that the company's CCP etcher equipment has been mass-produced on 5nm devices, and has achieved breakthrough progress in the production of devices below 5nm. In addition, plasma etching equipment has now surpassed photolithography equipment to become the largest market for integrated circuit equipment, growing rapidly from about US$5 billion in 2010 to about US$12 billion at present. MOCVD equipment is mainly used for epitaxial growth of gallium nitride and gallium arsenide semiconductor materials.
The operating income in the first half of 2021 was 1.338 billion yuan, an increase of 36.82% over the same period last year.
Among them, the etching equipment revenue in the first half of 2021 was 858 million yuan, an increase of about 83.79% over the same period last year, and the gross profit margin reached 44.29%. Due to downstream market reasons, the company's MOCVD equipment revenue in the first half of 2021 was 219 million yuan, a decrease of 10.08% over the same period last year
.
The net profit attributable to shareholders of listed companies in the first half of 2021 increased by about 278 million yuan compared with the same period last year, an increase of about
233.17%
.
The total R&D investment in the first half of 2021 was 286.4056 million yuan, including 55.0432 million yuan in share-based payment expenses.
Overview of AMEC's financial performance in the first half of 2021 (Source: Company financial report)
Xinyuanwei's products include photolithography process coating and developing equipment (coating/developing machines, glue spraying machines) and single-wafer wet equipment (cleaning machines, degumming machines, wet etching machines), which can be used for 8/12-inch single wafer processing (such as front-end wafer processing and back-end advanced packaging of integrated circuit manufacturing) and 6-inch and below single wafer processing, such as compound, MEMS, LED chip manufacturing and other links. It is worth mentioning that the coating and developing equipment products produced by the company have successfully broken the monopoly of foreign manufacturers (mainly the monopoly of Tokyo Electron of Japan) and filled the domestic gap. Among them, in the front-end wafer processing of integrated circuits, as domestically produced equipment, it has been gradually verified and applied, realizing small-batch substitution; in the back-end advanced packaging, compound, MEMS, LED chip manufacturing and other links of integrated circuit manufacturing, as the mainstream model of domestic manufacturers, it has been widely used in well-known domestic manufacturers, successfully realizing import substitution.
In addition, the cleaning equipment field for front-end wafer processing is mainly monopolized by manufacturers such as Japan's DNS. At present, all indicators of the Spin Scrubber equipment for front-end wafer processing produced by Xinyuan Micro have been significantly improved or upgraded, reaching the international advanced level and successfully replacing imports. This type of equipment has passed process verification at multiple customers such as SMIC, Shanghai Huali, Xiamen Silan Jike, and has received batch repeat orders from many domestic Fab manufacturers.
In the first half of 2021, the company achieved operating income of 350 million yuan, an increase of 461.85% over the same period in 2020
;
net profit attributable to shareholders of listed companies was 35.06 million yuan, an increase of 464.05% over the same period in 2019
.
Xinyuanwei's financial overview for the first half of 2021 (Source: Company financial report)
Huafeng Testing & Control is the largest semiconductor test equipment manufacturer in China. It has broken the monopoly of foreign manufacturers in the field of analog and mixed analog and digital testers. The main products are STS8200 and STS8300, as well as IPM module test solutions for power device testing. Among them, STS8200 has been in the market for more than 10 years. The product performance is stable and reliable, deeply trusted by customers, and maintains a high shipment volume. As of the end of the reporting period, the global installed capacity of STS8200 series equipment exceeded 4,000 units. STS8300 is a new test system launched by the company in 2018.
In the first half of 2021, Huafeng Measurement & Control achieved operating income of 324 million yuan, a year-on-year increase of 76.26%
;
net profit attributable to shareholders of listed companies was 148 million yuan, a year-on-year increase of 66.02%
. During the reporting period, the company's R&D investment was 41.47 million yuan, a year-on-year increase of 97.14%, accounting for 12.79% of operating income.
Huafeng Measurement & Control's financial overview for the first half of 2021 (Source: Company financial report)
Semiconductor Foundry
SMIC is the most technologically advanced, largest, most comprehensive and multinational professional foundry in mainland China. It mainly provides customers with integrated circuit foundry and supporting services for multiple technology nodes from 0.35 microns to 14 nanometers and different process platforms. In the
first half of 2021, SMIC achieved operating income of 16 billion yuan, of which the main business income was 15.85 billion yuan, an increase of 22.5% year-on-year, and realized a net profit of 5.2 billion yuan attributable to shareholders of listed companies, an increase of 278.1% year-on-year
.
In the first half of 2021, the revenue of the wafer foundry business was 14.5 billion yuan, accounting for 91.5% of the main business revenue during the reporting period, an increase of 23.2% year-on-year; the total revenue of photomask manufacturing, testing and other supporting technical services was 1.347 billion yuan, accounting for 8.5% of the main business revenue during the reporting period, an increase of 15.7% year-on-year. Based on technology, the proportion of wafer foundry business revenue from 90 nanometers and below is 61.4%, an increase of 32.5% year-on-year. Among them, the revenue contribution ratio of 55/65 nanometer technology is 31.2%, an increase of 22.8% year-on-year; the revenue contribution ratio of FinFET/28 nanometers is 11.1%, an increase of 62.3% year-on-year.
SMIC's financial overview for the first half of 2021 (Source: Company financial report)
The main business of China Resources Microelectronics includes the design, production and sales of power semiconductors, smart sensors and smart control products, as well as the provision of manufacturing services such as open wafer manufacturing, packaging and testing.
In the first half of 2021, the company achieved operating income of 4.45 billion yuan, an increase of 45.43% over the same period last year.
The manufacturing and service business segment achieved sales revenue of 2.383 billion yuan, an increase of 42.14% over the same period last year
; the total profit was 1.12 billion yuan, an increase of 143.76% over the same period last year; the net profit attributable to the parent company's owners was 1.07 billion yuan, an increase of 164.86% over the same period last year.
Overview of Huarun Microelectronics' financial statements for the first half of 2021 (Source: Company financial report)
Hua Hong Semiconductor follows the product line strategy of "Featured IC + Power", providing customers with comprehensive and excellent foundry technology services in the fields of embedded non-volatile memory, analog and power management, logic RF IC and discrete devices. It is worth mentioning that Hua Hong Semiconductor is the world's first pure wafer foundry company to mass-produce advanced trench gate electric field stop IGBTs on both 8-inch and 12-inch production lines. IGBT shipments in the first half of 2021 increased by 121% year-on-year.
Hua Hong Semiconductor's sales revenue in the first half of 2021 reached US$651 million, a year-on-year increase of 52.0%. The net profit for the period was US$58.1 million, an increase of 1,350.4% over the first half of 2020. The profit attributable to the owners of the parent company for the period was US$77.1 million, an increase of 102.3% over the first half of 2020.
Hua Hong Semiconductor's financial overview for the first half of 2021 (Source: Company financial report)
Final Thoughts
This article only lists some of the listed companies in each industry chain, hoping to show the tip of the iceberg of the development of my country's semiconductor industry through the actual financial performance of these companies. This is the best era for the development of semiconductors. Whether it is a trade war or a chip shortage, it indicates that the development of the semiconductor industry is at an urgent time. Domestic semiconductor companies will continue to rise in the second half of the year!
*Disclaimer: This article is originally written by the author. The content of the article is the author's personal opinion. Semiconductor Industry Observer reprints it only to convey a different point of view. It does not mean that Semiconductor Industry Observer agrees or supports this point of view. If you have any objections, please contact Semiconductor Industry Observer.
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