The World Semiconductor Trade Statistics organization announced an upward revision of this year's global semiconductor output forecast, with an estimated annual increase of 16%, and optimistic about the continuous growth of the storage and logic industry output in 2025 by 12.5%, and is expected to grow strongly for two consecutive years.
WSTS raised its forecast for spring 2024, and the estimated valuation of the market in 2024 is $611 billion.
There are two categories of integrated circuits that will drive growth this year, with double-digit growth rates: logic growth of 10.7% and storage growth of 76.8%.
In contrast, other categories such as discrete components, optoelectronic components, sensors, and analog semiconductors are expected to decline in single digits.
The National Integrated Circuit Industry Investment Fund Phase III (National Integrated Circuit Industry Investment Fund III Co., Ltd.) was officially established on May 24th, with a registered capital of 344 billion yuan, higher than the total of phases I and II. Besides, shareholders of phases I and II such as the Ministry of Finance, policy banks, and local state-owned assets, the six state-owned banks in phase III all contributed a total of 114 billion yuan, accounting for about one-third.
According to the latest research report by China Securities Co., Ltd. (CITIC Securities), the investment direction that the National Integrated Circuit Industry Investment Fund Phase III may inject includes:
1. Continue to focus on the low localization rate of the semiconductor industry chain in China, especially the bottleneck areas.
In terms of localization, in the field of semiconductor equipment, the overall localization rate is still relatively low in the areas of lithography machines, measurement/detection equipment, coating and development equipment, and ion implantation equipment.
In terms of semiconductor materials, large-size silicon wafers, lithography resists, sputtering targets, photomasks, electronic special gases, and polishing materials have not been completely localized.
2. Prospective support for strategic frontier directions, such as HBM, AI chips, advanced manufacturing, and advanced packaging. Currently, most domestic manufacturers in these areas are still in the middle and low-end development stages, and are expected to become the investment focus of the third phase of the National Integrated Circuit Industry Investment Fund.
The establishment of the National Integrated Circuit Industry Investment Fund Phase III is undoubtedly a significant promotion of the domestic semiconductor industry, which will bring more funding and research and development power to the semiconductor industry. With the continuous breakthrough and development of domestic chip technology, the domestic semiconductor industry chain will usher in new growth opportunities.
Related companies in the semiconductor industry chain: Semiconductor Manufacturing International Corporation (00981), Hua Hong Semiconductor (01347), Shanghai Fudan (01385), Times Electric (03898), etc.
Semiconductor Manufacturing International Corporation (00981), Hua Hong Semiconductor (01347), Shanghai Fudan (01385), Times Electric (03898), and others.