Domestic semiconductor industry: Expansion from fab expansion to expansion of packaging and testing plant: Since 2015, the foundry represented by SMIC and Hualiwei has started with storage companies represented by Changjiang Storage and Hefei Changxin. Large-scale expansion, set off a peak of capital expenditure. According to our statistics, after all the new capacity under construction and planning in this round has reached production, the total capacity of domestic 12-inch wafer fabs will increase to three times. The expansion of the capacity of the round factory directly led to a significant increase in the capital expenditure of wafer processing equipment. Since March 2018, with the entry of the lithography machine, semiconductor equipment has begun to enter. With the expansion of the fab, domestic OSAT vendors have also gained more business opportunities. In July 2018, Huatian announced that it will build a package testing project in Nanjing, and open the sealing and testing plant to expand the production. 4 In addition to the overall capacity demand increase, the iteration of packaging technology, The change of the product also brings about the adjustment of the packaging capacity structure, which is another factor that promotes the continuous investment of the packaging factory.
Compared with the manufacturing process, there are two 'faster' in the testing and testing process: 1 First, the localization rate of the testing and testing process is faster. The current domestic packaging and testing industry presents foreign investment, Sino-foreign joint ventures and domestic capital, and the domestic packaging industry. Secondly, the localization rate of packaging and testing equipment has increased faster. Although the space of the former wafer manufacturing equipment is large, the localization rate is only 8-10%, and a large number of front-end manufacturing equipment still rely on imports. In contrast, the space ratio of packaging and testing equipment is small, but the localization process is more smooth.
Taking Changjiang Electronics Technology as an example, we will explore the key equipments for the packaging and testing process: 1 Long-term 18-year new investment communication and IoT integrated circuit middle channel packaging project total investment 2.35 billion, of which 80% is equipment purchase fee. 2 Overall, domestic The purchase amount of process equipment accounts for about 22.8%, and the localization rate is relatively high. Specifically, the core equipment used in the testing and testing process includes testing/electroplating/bonding/cleaning/grinding thinning equipment, etc. 3 We follow various types of equipment. Purchasing planning, calculating the localization level of several types of core equipment. Among them, the level of localization of lithography/cleaning/testing is higher, which is more favorable for domestic equipment.
Risk factors: The domestic equipment verification cycle is too long, and the supply of core components is insufficient.