Market value of listed Chinese chip companies: Market value of domestic semiconductor companies "shrinks"

Time node of this list: April 30, 2021 (the deadline for listed companies to disclose financial reports)

Jiwei.com compiled and analyzed public information and released a ranking of China's listed chip companies by market capitalization. The list covers the market capitalization of 129 A-share listed semiconductor companies.

According to statistics, as of April 30, 2021, there are five A-share semiconductor listed companies with a market value of over 100 billion yuan, namely, Will Semiconductor, SMIC, Zhanrui Micro, Sanan Optoelectronics, and Wingtech Technology. Among them, Will Semiconductor ranks first with a market value of 262.6 billion yuan, surpassing SMIC's 230.4 billion yuan (the market value of SMIC is calculated as A-share capital*A-share stock price+Hong Kong stock capital*Hong Kong stock price/exchange rate).

The total market value of all semiconductor companies listed on the A-share market is approximately 3349.784 billion yuan, down 4.23% from the total market value of 3491.576 billion yuan on December 31, 2020. During the same period, the Shanghai Composite Index fell 0.75%, and the total market value of semiconductors fell more than the overall market index.

In the first quarter of 2021, the semiconductor sector rose at the beginning of the year, but started to fall half a month later. The market was mainly concerned about liquidity and valuation factors, but the market was booming and shortages continued. After the first quarter report was released, the semiconductor sector rebounded.

As of April 30, 2021, there were two newly listed companies in 2021, namely Galaxy Microelectric and Xingci Micro-Equipment.

On January 27, Galaxy Microelectronics was listed on the Shanghai Stock Exchange Science and Technology Innovation Board, with an initial public offering price of 14.01 yuan and 32,100,000 shares issued. On April 1, Core Micro Equipment was listed on the Shanghai Stock Exchange Science and Technology Innovation Board, with an initial public offering price of 15.23 yuan and 30,202,448 shares issued. As of May 12, the closing price of Galaxy Microelectronics was 25.2 yuan, an increase of 79.87%; the closing price of Core Micro Equipment was 54.5 yuan, an increase of 257.85%.

Compared with the beginning of the year, the companies whose stocks rose by more than 100% include Mingwei Electronics, and those whose stocks rose by more than 50% include Jingfeng Mingyuan and Zhongying Electronics. In addition, Zijing Storage, Datang Telecom, Yaguang Technology, Anjie Technology, and Juchen Shares were among the top losers.

On April 29, 2021, Zijing Storage released its 2020 financial statements. The company's accounts receivable balance at the end of 2020 was 684.2768 million yuan, and the balance of bad debt reserves was 64.8598 million yuan. Among them, the balance of accounts receivable with an age of more than one year was 283.2319 million yuan, accounting for 41.40%, a significant increase from the previous year, and the balance of related bad debt reserves was 44.8075 million yuan. In 2020, the company achieved operating income of 563 million yuan, an increase of 8.97% over the same period last year; the net profit attributable to shareholders of listed companies was 104 million yuan, a decrease of 24.71% over the same period last year. Revenue in the first quarter of 2021 was approximately 85.9125 million yuan, a year-on-year decrease of 15.90%; net profit was approximately 10.1064 million yuan, a year-on-year decrease of 35.81%. The company's revenue decreased and bad debts increased.

According to Datang Telecom's financial statements in 2020, the company's operating costs are still high, and operating income cannot cover all operating expenses. The company has been marked as "ST" (risk of delisting). The company owns a 3G standard with independent intellectual property rights - TD-SCDMA, but is currently in a new era of 5G, and the company's main business is unlikely to improve.

From the perspective of sub-sectors, except for the electronic components sector, manufacturing, design, equipment, packaging and testing, distribution, materials, and IDM all experienced declines to varying degrees. Among them, the materials sector saw the fastest decline, down 12.66%.

Comparing the market value of companies in Taiwan, China and abroad, there are eight companies with a market value of over US$100 billion. TSMC, Nvidia and ASML rank in the top three, with market values ​​of US$558.2 billion, US$372.2 billion and US$270 billion, respectively.