1. Yangjie Technology has produced IGBTs in small batches. Each 6-inch wafer can produce 1000-1500 dies.
Gathering micro-messages, Recently, Yangjie Technology has ushered in a number of organizations including Jude Fund, Kaishi Fund, and Fuente Assets. Yang Jie Technology Deputy General Manager, Board Secretary Liang Yao and Securities and Securities Investment Department Zhang Kongxin Answer institutional investor questions.
Yangjie Technology stated that the company controlled a 6-inch wafer line in Yixing in March 2018. The production line is currently capable of producing IGBT chips in small batches. The company is actively planning 8-inch lines, storing 8-inch wafers, and IGBT technical talents. In the next three years, the company will increase its investment in R&D expenses by 5% or more year by year. With the development of large-scale wafers, silicon carbide wafers, and high-end device production lines, it will attract top-notch semiconductor technology at home and abroad, R&D personnel, and rapid growth. The contribution of the R&D section to the company contributes to the company's transformation from its two-wing configuration of production and sales to R&D, production, and sales.
The following is a record of Yang Jie Technology and investors Q&A:
Investors: In the first quarter of fiscal year 2018, the company’s financial report showed that inventory increased from 210 million yuan at the beginning of the year to 270 million. What kind of commodities is reflected in the large increase in inventory? Is it due to the impact of the first quarter of this year? What proportion of the total amount of inventories is in this total of 270 million?
Yangjie Technology: The main reason for the company's inventory growth in the first quarter of 2018 was that the company had strategically stocked the continuous price increase for raw materials such as wafers, and increased customer stocks to ensure product delivery. Chengdu Qingyang Electronic Materials Co., Ltd. The consolidation of the company's consolidated statements has a partial impact on inventory growth. Its combined inventory of goods is 2.626208 million yuan, accounting for 9.63% of total stocks at the end of the first quarter. Investors: When will the company's IGBT products be mass-produced?
Yangjie Technology: The company controlled a 6-inch wafer line in Yixing in March 2018. The production line is now capable of producing IGBT chips in small batches. The company is actively planning 8-inch lines, storing 8-inch wafers, and IGBT technical talents.
Investors: The company indirectly participates in the shareholdings of Ruineng Semiconductor. Can you introduce the 2017 revenue and net profit of Renesas, as well as specific dividend plans?
Yangjie Technology: The Beijing Guangmian Semiconductor Industry Investment Center (Limited Partnership) invested by the company has not yet received the audited 2017 annual financial statements of Ruineng Semiconductor Co., Ltd. According to the understanding and estimation of the company's business end, Ruineng Semiconductor 2017 The company achieved revenue of approximately 600 million yuan and net profit after tax of approximately 70 million yuan. It will distribute 30% to 70% of its after-tax net profit in previous years.
Investors: The company's asset turnover rate has declined in recent years. The utility of assets is not very high. What are the main reasons?
Yangjie Technology: Because the company has implemented three non-public offerings since 2016 and invested a lot of equipment, the total assets have increased rapidly. However, due to the project being in the process of implementation, the corresponding benefits have not been fully released, resulting in asset turnover. The rate is low. Since this year's fundraising projects will be completed one after another, the economic benefits generated will be fully released, and the asset turnover will gradually increase.
Investors: How is the current progress of the company's silicon carbide project?
Yangjie Technology: With respect to the silicon carbide project, the company is currently in the process of accumulation of encapsulation and tapeout, and is preparing for the preparatory research and development of the line.
Investors: The company's 6-inch production line has also been put into production. For a 6-inch wafer, how many photovoltaic diodes will a wafer be cut?
Yangjie Technology: Due to customer requirements for different product parameters, the corresponding die size is also different. Each 6-inch wafer can produce 1000-1500 die.
Investors: What are the plans for the company's outreach?
YangJie Technology: The company will continuously improve and expand the growth path of extension, Actively with the advantages of technology or channels in the semiconductor industry, High-quality overseas companies with strong competitiveness and profitability, Local companies in depth exchanges and cooperation, Continue to enrich the company's semiconductor Industrial quality, to achieve the company's overall scale and comprehensive strength of the rapid increase.
Investors: What is the company's R&D investment plan for the next three years?
YangJie Technology: The company will increase the investment in R&D expenses year by year, keeping 5% or more. With the development of large-size wafers, silicon carbide wafers, and high-end device production lines, it will attract top-notch semiconductor technology at home and abroad, R&D personnel, and rapid R&D. The contribution of the plates to the company accounts for the company’s transformation from the previous two-wing pattern of production and sales to the development of R&D, production, and sales.
2. Semiconductor investment group sketching: Opportunities emerge from the industrial chain; institutions wait cautiously;
Semiconductor investment group sketch: Opportunity emerges from the industrial chain
Reporter Yang Ping Shenzhen, Guangzhou reported
Under the tide of independent technological innovation, funds began to flow into the semiconductor industry.
'Now who does not care about this industry? It's too hot. ' At a recent Shenzhen Capital Market Matchmaking Forum, a venture capital investor told the 21st Century Business Herald reporter.
The matchmaking forum has not yet officially begun. The venue is full. There are nearly 400 people in Baiyiping Hall. Most of them are investors, including government-backed industrial funds, small and medium-sized venture capital institutions, and listed companies seeking M&A bids. Due to limited seating, many investors even stood listening to the entire meeting.
'Now the domestic semiconductor industry chain is basically complete, and it has gradually begun to develop in the high-end areas. On the one hand, it has policy support. On the other hand, downstream applications, especially mobile communications led by smart phones, have emerged many high-quality enterprises. Will promote the development of the domestic industry. 'The above investors said to the 21st Century Business Herald reporter.
Wait-and-see investors
'In the recent past, investment institutions have paid more attention to the semiconductor industry. ' A person from a wholly state-owned venture capital agency in Shenzhen also told the 21st Century Business Herald reporter.
At the aforementioned industry chain capital matchmaking meeting, an institutional investor at the on-site WeChat group created by the organizers found that the group of more than two hundred people was almost all peers. Only six companies participated in the road show and were biased towards the middle and early stage. , Most of the financing in the B round, the company is small.
21st Century Business Herald reporter noted that the scale of investment institutions on the scene may seem large, but there are not many companies that have real semiconductor investment experience. Some of these participants are not engaged in direct investment projects. Many of the interviewed organizations stated that Actually do not understand the industry, the purpose of the meeting is mainly to learn.
When it comes to specific investments, the institutions’ attitudes are even more rampant. Most of them are in a wait-and-see attitude.
The above-mentioned state-owned venture capitalists were also one of the participants. After the event, he also took the initiative to leave contact information in order to communicate with the company.
A week later, he told reporters of the 21st Century Business Herald that after the meeting, there were indeed many organizations that had taken the initiative to contact him, mainly designing and packaging companies in the field of testing. However, at present, they have not gone to the company for investigation. Apart from time, he also said that There is another technical concern.
'We haven't invested in similar projects before, we haven't even seen projects in related fields. Now we have a few project financings. We've all had a bit of awkwardness. We don't know exactly what the technology is and where the risk is. Although semiconductors are concerned, Most institutions are watching, partly because many institutions have not previously invested in this area. Now that they have encountered projects in this area, they are a bit unreadable. 'He said.
Institutions that have lost more than 'understand', even with slightly more experienced investors, are cautious.
Another investing director of a venture capital organization focusing on the semiconductor industry in the past two years told reporters that its investment projects mainly focused on the team and core technologies. He stated bluntly: 'Investment is mainly investment, academic background is certainly good-looking, not good. Academic qualifications can't make high-grade things.'
In terms of specific projects, he prefers to invest in the middle and later stages, and has profit requirements for some projects.
'The direction we are paying attention to is basically a company with a higher technological content. In addition, it is profitable. After a certain market inspection, we generally require companies to have a profit of around 10 million RMB. Particularly good companies, Even if it is not profitable, the potential in the latter part of the year will be considered for long-term holding. 'The above investment director said.
In terms of the six projects on the forum roadshow, the investment director has not revealed any investment intentions: 'Two financially sound companies (can achieve profitability), one is doing buck-boost power management, one is doing low-end, terminal semiconductors , Technology is general, and there are more competitors for homogenization, while another company (panel-level fanout package) technology is better, but the project is too early (A round).
Looking for potential unicorns
According to the benefit sequence, the package-end-end return is faster because domestic packaging and measurement technology is more mature and then design. For example, digital circuits are easier than analog circuits. In addition, some subdivided areas are also worthy of entry, such as small and medium-sized materials. In the field, such as high-purity sputtering targets made by Jiangfeng Electronics. 'On May 7, an analyst of electronic components and securities of Shanghai-based medium-sized securities companies told reporters of the 21st Century Business Herald.
However, since the semiconductor industry is a capital-intensive industry, it generally has long-term, large-scale investment, high-risk, and high investment thresholds. Venture capital institutions are generally cautious in investing in this field.
'In addition to some discrete devices, packaging and testing companies can produce short-term results. The investment cycle in the semiconductor industry is very long. Especially for small businesses, they may not be able to do it in 5 to 10 years. It is difficult for civil organizations to support such a long period. Most of the investment is concentrated in large corporations and state-owned enterprises.' said securities analyst said.
It is worth noting that, even if it is the investment of large-scale enterprises, only a solid capital will continue to increase in order to achieve real results.
For example, BOE A, a leading semiconductor company in China, used to be a big loser in the A-share market. After many efforts to reverse the cyclical expansion, the company eventually achieved a 'retroactive' success. In 2017, it achieved a net profit of 7.56 billion yuan.
However, overall, the quality of the domestic semiconductor industry is uneven, and most private venture capital institutions are still relatively conservative.
'At present, semiconductors in the Red Sea market can basically be profitable, and the technologies in the high-end areas have yet to be improved. Particularly good companies are not easy to find. Most private organizations do not have the funds to invest in high-end semiconductors. Institutions can only be found in the sea. Try to find the right one for you. ' The above investment director said. (Editor: Wu Yanling)
21st Century Business Herald
3. High-speed rail, chips, blockchains, Geely’s careful thinking in the field of travel was finally exposed;
After the shelling of the 'Internet company is to cheat the people', recently, Li Shufu, chairman of Geely Holdings, has been smashing domestically-made new energy vehicles. They are all at the low end. When the outside world is focused on Li Shufu's remarks, Geely But quietly did two things.
On June 7th, Zhejiang Geely Holding Group Co., Ltd. (hereinafter referred to as Geely Holding) and Tencent jointly announced that the joint venture formed by the two parties will successfully win the bid for 49% equity transfer of EMU Technology Co., Ltd. (hereinafter referred to as EMU). The future will be with China. Railway Corporation (hereinafter referred to as China Railway Group) and its related companies, jointly manage railway value-added services.
It is understood that the EMU network was established in 2017. It is the only company in the China Railway General Corporation that operates the EMU Wi-Fi.
One day later, Geely Automobile announced that it will establish a docking working group with China Aerospace Science and Industry Corporation (hereinafter referred to as the Aerospace Science and Industry Group) as soon as possible to put cooperation on high-speed flight trains, industrial Internet applications, etc. into the agenda, and The possibility of cooperation in driverless systems, on-board chips, automotive blockchain applications, and car networking is discussed.
Automobile manufacturing, shared cars, flying cars, high-speed rail...... Geely in the field of travel in the end what is the next game?
Win high-speed rail Wi-Fi 'otherwise'
How did Geely, the automaker, suddenly enter the high-speed rail industry?
'Participating in the operation of the 'Internet + High Speed Rail' project is a practical exploration of support for the mixed reform of the railway sector by Geely Holdings. It is also an important step for future development and transformation of Geely Holdings, said Li Shufu.
In this regard, industry analysts pointed out that Geely is actively exploring and deploying mobile travel in the future. Under the premise of consolidating the advantages of hardware manufacturing, we will strive to develop online digital technology solutions to provide users with a highly integrated smart mobile space online and offline, and participate in high-speed railways. The operation of the network is an important step in its future travel.
According to NBD (micro-signal: NBD-AUTO), a piece of Geely's layout in the travel market, Cao Cao's special car has been deployed in many cities across the country, but the traffic shortboard has always been a stop-gap in the Cao Cao's extended car layout.
According to public statistics, in the past six months, the average daily new users of Didi Trips were approximately 704,000, and that of China Autos was 104,000. However, the average daily growth of Cao Cao's new vehicles was less than 20,000. It can be seen that in the online market, The growth rate of Cao Cao's car users is far less than that of Dripping and Shenzhou.
With the equity transfer of the E-Bike network and the cooperation with the Aerospace Science and Industry Group, Cao Cao's traffic problem may be helpful.
At present, aviation, high-speed rail Wi-Fi belongs to the traffic entry point for the last competition on the Internet. If Wi-Fi is to be extended to all high-speed rails in the future, this will be a very attractive market. According to data, as of 2017, China’s high-speed rail mileage has reached 25,000 kilometers. , accounting for 66.3% of the total high-speed rail mileage in the world. EMUs carry 1.71 billion passengers annually, covering about 200 million people.
Imagine playing games on the high-speed railway with free Wi-Fi. After the high-speed train arrives at the station, you can make a special appointment with Cao Cao's special car. A seamless docking schedule. Visit the e-commerce platform during the journey and book orders with one click. The car is also not a bad idea. This new scene may be the true intention of Geely's layout.
Large layout travel exposed 'careful thinking'
At the just-concluded Global Automotive Forum in 2018, Li Shufu described the future of the car like this: 'One is driverless. This is certain. Second, it will help people solve many problems, such as buying 10 cars. It can make money automatically, automatically take parking, this is the future of the car, it must be like this.
It is not difficult to see from the passage of Li Shufu that Geely Automobile has its own 'careful thinking' in the field of large-scale travel. NBD cars have learned that, as of now, Geely has been deploying in the area of travel networks, shared cars, and flying cars.
In addition to the above-mentioned Cao Cao special car, in the sharing of automobiles, the 'micro bus' jointly launched by Geely Holding Group and ContiTech Group can be fully charged for 100 to 160 kilometers.
In addition, Geely also has a 'King Fry' - a flying car. Last year, Geely Automobile announced that it had acquired Terrafugia, a Silicon Valley flying car company, and had obtained approval from the relevant US agencies. It plans to build a plant in China next year.
On June 3 of this year, the company under Geely Group signed a strategic cooperation agreement with Hainan Land Reclamation Investment Holding Group Co., Ltd., which includes cooperation on flying car tourism projects.
As Li Shufu once said publicly, 'The automobile industry can do a lot, there can be endless imagination'. Perhaps someday, Geely will install Wi-Fi in civil aviation. Daily Economic News
4. Gou Ming Ming: China can make its own chips and operating systems;
Hon Hai Chairman Guo Taiming stated that China can make its own chips and operating systems. He believes that Foxconn will carry out the transformation of the park this year. Shenzhen Longhua Industrial Park is expected to be completed in five years.
According to the report from the Central News Agency, People’s Daily today published an exclusive interview with Guo’s China-developed chip. He believes that China can make its own chips and operating systems. It should continue to innovate. However, innovation in the core technology field cannot be quick and immediate. 5. The road will go slowly step by step.
Looking ahead to Foxconn's industrial Internet layout, Gou said that the group is now using robots in large numbers. Workers in the production line can use more ideas to participate in innovation. Workers can do software, do programming, do robot control, research artificial intelligence, big data, etc.
Terry Gou pointed out that this is the third generation and the future of industrial workers. The Group's IT Academy has been transformed into the Institute of Industrial Internet. It is hoped to use the industrial Internet to replace the simple manufacturing of the past.
Talking about the transformation of the park, Gou said that this year Foxconn plans to carry out the transformation of the park. Among them, the robot will replace a part of the labor force and the labor-intensive factories will move to the second and third-tier cities with lower labor costs. The old factory buildings will be upgraded as R&D products. The site of innovation and technology. It is expected to be completed in five years after the industrial park in Longhua, Shenzhen.
When talking about Guangdong, Gou pointed out that there are 60 million to 80 million people around the Pearl River Delta. Guangdong has such a huge market. If we continue to insist on innovation-driven development, Guangdong can lead the next 30 years of development in mainland China.
Terry Gou recently accepted media interviews in mainland China that Foxconn Shenzhen Longhua Park will become a micro-silicon valley, and it is expected to be realized by 2022.
5. Tianjin University flexible RF filter allows the phone 'can be flexed to stretch';
The reporter recently learned from Tianjin University that the Pangwei team of the State Key Laboratory of Precision Testing Technology and Instruments has made a breakthrough in the high-speed wireless communication capabilities of flexible electronic devices. The company has successfully developed a flexible RF filter that can be directly applied to flexible electronics. Radio-frequency communication. The future is expected to enable smart phones to truly “excede performance and flexibility” and fold freely. This research result was selected as the cover article for the latest international authoritative periodical “SMALL”.
According to reports, letting flexible electronic devices have high-speed wireless RF communication capabilities is still a worldwide research problem. Although scientists have developed arrays of arbitrary foldable and stretchable transistors and flexible flexible screens, electronic skin and other devices have good performance. Flexible materials, but to allow flexible electronic equipment to play a greater potential, it must allow it to have wireless RF communication capabilities. Only with this feature, flexible electronic devices can truly achieve 'can flexors'.
The RF filter is an indispensable core component in the wireless RF communication module. The Pang Wei research team has created a new technology of flexible RF filtering, using an innovative process called FlexMEMS (Flexible Microelectromechanical System) to completely solve the rough surface and not The high-temperature resistant polymer substrate and the high-quality thin film, incompatibility of high-precision movable microstructures in device design, manufacture, and packaging have successfully developed a flexible RF filter that can be directly applied to flexible electronic devices in the future. communication.
According to reports, part of the flexible RF filter electrical performance indicators have reached the current level of commercial RF filter in smart phones. This new technology can also be used to manufacture pressure gauges, accelerometers, ultrasound recognition and imaging units, microphones and other flexible MEMS devices. Next, scientists also plan to develop flexible electronic systems with complete wireless RF communication capabilities based on existing flexible RF filtering technologies, enabling more flexible electronic devices to have a stronger 'communication-aware' external world. The ability. (Reporter Sun Yusong)
Science and Technology Daily
6. Dalian Institute of Research Institute for All-solid-state Flexible Planar Lithium-ion Micro Capacitors
Recently, Wu Zhongshuai, researcher of the Dalian Institute of Chemical Physics, Chinese Academy of Sciences, teamed up with the team of Academician Bao Xinhe of the Chinese Academy of Sciences and Associate Professor He Yanbing of the Shenzhen Graduate School of Tsinghua University to develop a high energy density, good flexibility and excellent performance. High-temperature stability and highly integrated all-solid-state planar lithium-ion micro-capacitors. Related research results are published in Energy Environ. Sci.
In recent years, wearable, portable electronic devices, and MEMS (such as micro-robots and micro-sensors) are rapidly developing in the direction of lightweight, small size, and multi-function integration, which has greatly promoted high power density and high energy density in modern society. Demand for micro-energy storage devices characterized by flexibility, modular integration, etc. Traditional lithium-ion capacitors have attracted attention because of their high energy density and the high power density of supercapacitors. However, their sandwich stack structure The device configuration greatly limits its mechanical flexibility, high temperature performance, and modular integration capabilities.
Recently, the research team has taken the lead in the international development of a new concept of all-solid-state flexible planar lithium-ion micro-capacitors. The micro-capacitors use highly conductive graphene as the current collector and high-voltage ion-gel as the electrolyte, and nano-titanic acid. Lithium is a negative electrode and activated graphene is a positive electrode to construct a high-ion-electron-conducting interdigitated microelectrode, and then an all-solid-state lithium ion micro capacitor is assembled on a substrate. The lithium ion microcapsule has a high energy density of 53.5 mWh/cm 3. , Higher than currently reported lithium thin-film batteries and micro-supercapacitors. At the same time, the lithium-ion micro-capacitors have excellent cycle stability, capacitance retention after 98 cycles of 98.9%; with high-temperature electrochemical stability, can be at 80 degrees Stable operation under C conditions; and excellent mechanical flexibility, achieving no degradation in performance under various bending and twisting conditions. In addition, the lithium ion micro-capacitors exhibit good modular integration capability without the need for metallic connectors. The output voltage and capacity are regulated. Therefore, this work is to develop flexible, miniaturized, intelligent energy storage. The device provides a new strategy.
The above work has been funded by the National Natural Science Foundation of China, the National Key R&D Program, and the National Youth Project.
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Research Institute of Dalian Institute of Chemical Industry, Solid State, Flexible Plane Lithium Ion Micro Capacitors