SMM Network News: semiconductor system integration packaging enterprise Xiamen Yuntian Semiconductor Technology Co., Ltd. (hereinafter referred to as "Yuntian Semiconductor") announced to obtain more than 100 million yuan A round of financing, this round led by the State Investment Corporation, Zhejiang Yinxinggu Capital, Xi'an Tianli Investment, trendy science and technology to participate in the investment.
This is Yuntian Semiconductor's first financing after obtaining the seed stage support of Xiamen Semiconductor Investment Group Co., Ltd. (hereinafter referred to as "Xiamen Semiconductor"). The funds will be used for the production expansion of Yuntian Phase I plant and the start-up funds of Phase II plant.
Yuntian Semiconductor was established in July 2018 with a registered capital of 9.8 million yuan. Xiamen Semiconductor and Yu Daquan hold 45.50% and 40.43% of Yuntian Semiconductor respectively, with 9 people or institutions holding shares. Among them, Dr. Yu Daquan is the leader of the core team, and has been selected into the "100 talents Plan" of the Chinese Academy of Sciences, mass entrepreneurship and innovation talents in Jiangsu Province, mass entrepreneurship and innovation team (leading talents) and other titles.
Based on TGV/eGFO/IPD/WLP and other technologies, Yuntian Semiconductor provides one-stop advanced packaging solutions for 5G, RF and other fields. the company's main products include filter packaging, millimeter wave chip packaging, IPD, TGV products and so on. In the past two years, advanced laser processing technology has been successfully developed, the preparation of glass through hole with low cost and high efficiency has been realized, and the glass through hole with an aspect ratio of 10:1 has been mass produced.
A reporter from Science and Technology Innovation Board Daily noted that Yuntian Semiconductor currently has a 4500 square meter factory and has built a 4x6 inch wafer level three-dimensional packaging platform, with a trial production capacity of 3000 pieces per month last year. At the same time, the company is building a second-phase plant of 24000 square meters, which is expected to be put into use in 2021, when the company will have complete wafer level sealing testing and system integration capabilities from 4 inches to 12 inches, with a production capacity of 20, 000 wafers per month. The funds obtained from the financing may be used for this purpose.
However, Yuntian Semiconductor, as a start-up, has not entered the mainstream in terms of the industry, despite a production capacity of 20,000 pieces per month.
At the same time, semiconductor investment and financing has continued to be hot since April, with 51 companies receiving a new round of financing in just one month, but the closed test plate is not outstanding. Compared with IC design and manufacturing, closed test has the lowest gross profit margin, which is generally about 10% to 20%, while 002185.SZ, which has strong operating capacity in the industry, had revenue of 8.104 billion yuan last year, with a net profit of 288 million yuan, and only 14.63% gross profit for related products.
A senior semiconductor VC institutional investment manager told Science and Technology Innovation Board Daily that from the perspective of advanced packaging and sitting in Daquan, Yuntian Semiconductor is still valuable, but general investment institutions will not invest in packaging enterprises, mainly government investment to guide the landing of the industry and enterprises within the industry.
"because encapsulation is an asset-heavy industry, it has the characteristics of low gross profit and slow return, so it is not suitable for venture capital." The above-mentioned investment manager thinks so.
At the same time, some research reports said that in various advanced packaging platforms, 3D IC stacking and fan-out packaging will grow at a rate of about 26%, and their applications in various fields will continue to grow. At present, no other technology can provide the performance and integration level that stacking technology based on silicon through-hole (TSV), hybrid bonding (or a combination of both) can achieve.
However, Yuntian Semiconductor has a "different view". It does not see the related application of TSV from the company's official website, but it has become "the first contract manufacturer in the world to have low-cost large-scale production TGV technology". The official website information shows that, as a possible substitute for silicon-based adapter board material, glass through-hole (TGV) three-dimensional interconnection technology is becoming the current research hotspot because of many advantages, and has great potential in the field of MEMS packaging.
However, there is a consensus that advanced packaging has gradually entered its most successful period, thanks to the widespread demand for higher integration, the slowdown of Moore's Law, and the general trends of intelligent transportation, 5G, consumer, storage and computing, the Internet of things (including industrial Internet of things), artificial intelligence (AI) and high-performance computing (HPC).
Overall, the advanced packaging market is expected to grow at a compound annual growth rate of 8 per cent from 2019 to 2024, and the global market will reach $44 billion by 2024, according to Maimes Consulting data. In contrast, the traditional packaging market is expected to grow at a CAGR of only 2.4 per cent over the same period, while the overall IC packaging business is expected to grow at a CAGR of 5 per cent.
For the above financing matters and the company's future development plans, as of the press release, the "Science and Technology Innovation Board Company" reporter interviewed the company failed to get further response.
