[hot spot] Why did the concept of semiconductors and gallium nitride take off against the market?

SMM9 March 4: today, the three major A-share indexes fell collectively. As of the close, the Shanghai Composite Index fell 29.61 points, or 0.87%, to 3355.37 points; the Shenzhen Composite Index fell 115.72 points, or 0.84%, to 13656.66 points; and the gem Index fell 14.80 points, or 0.54%, to 2732.15 points. However, the semiconductor and gallium nitride plates took off against the market. By the close of trading today, the semiconductor plate closed up 2.36%, and the gallium nitride plate rose 5.12%. Taiwan shares, San'an Optoelectronics, Haite High-tech, Huacan Optoelectronics and other collective higher.

According to media reports, China plans to include strong support for the development of the semiconductor industry in the 14th five-year Plan that is being developed during the period from 2021 to 2025. We will vigorously support the development of the third-generation semiconductor industry in education, scientific research, development, financing, application and other aspects, with a view to achieving industrial independence. In recent years, the third generation semiconductor materials represented by silicon carbide and gallium nitride have stable structure and low cost, which can be widely used in modern electronic equipment and attracted market attention. Its development is the core and foundation of the emerging semiconductor industry, showing a trend of rapid development. There is a huge demand and expenditure for chips in the Chinese market, and the good news that the new policy supports the development of the semiconductor industry brings new opportunities, and the chip industry is expected to enter a stage of rapid development. According to the policy, although China's current chip self-sufficiency rate is only 30%, the target is to reach 70% in the next five years. Boosted by this news, semiconductor concept stocks collectively continued to rise.

Third generation semiconductor

The first generation material is Silicon (Si), Silicon Valley is the industrial park of the first generation semiconductors.

The second generation material is arsenic gallium (GaAs), for the 4G era, most of the current communication equipment materials.

At present, the third generation materials are relatively mature, such as silicon carbide (SiC), gallium nitride (GaN) and so on, which are standard in the 5G era.

Application field

The first generation semiconductor materials are used in more than 95% of current semiconductor devices, and the second generation semiconductors are expensive and toxic, while the third generation semiconductor materials have the advantages of high thermal conductivity, high breakdown field strength, high saturation electron drift rate and high bonding energy. it can meet the new requirements of modern electronic technology for harsh conditions such as high temperature, high power, high voltage, high frequency and high radiation. Compared with Si-based semiconductors, the energy loss can be reduced by more than 50%, and the equipment volume can be reduced by more than 75%.

As Moore's Law is close to the limit, it is difficult to further improve the performance of traditional Si transistors. New underlayer materials are one of the breakthrough paths for semiconductors in the future.

Advanced semiconductor materials have risen to the national strategic level. In 2025, it is planned to achieve 5G by 2025, the localization rate of efficient energy management will reach 50%, new energy vehicles and consumer electronics will be applied on a large scale, and the penetration rate of general lighting will reach 80%.

Related listed companies

Of all the listed companies in the third generation semiconductor industry, only Hite Hi-Tech has mass production. Haiwei Huaxin, a high-tech subsidiary of Hite, has established the first 6-inch arsenic gallium nitride / gallium nitride semiconductor wafer production line in China, with technical indicators reaching the advanced level of the same industry abroad, and some products have been mass-produced.

Sai Microelectronics is involved in the third generation semiconductor business, mainly including the growth of GaN (gallium nitride) materials and the design of devices.

Lu Xiao Technology invested 10 billion yuan to build the third generation power semiconductor (silicon carbide) industrial park.

As one of the co-founded units of Shenzhen third Generation Semiconductor Research Institute, Qianzhao Optoelectronics is committed to the research, development and industrialization of semiconductor cutting-edge technologies such as Micro LED.

Sanan Optoelectronics has set up a subsidiary in Changsha, Hunan Sanan, which is engaged in the R & D and industrialization project of the third generation semiconductors of silicon carbide and other compounds, which is currently in the stage of construction.

The current products of Ju can Optoelectronics are related to the research and development and production of gallium nitride. The technology of epitaxial wafers is to develop the growth technology of gallium nitride materials, and the technology of chips is to develop the fabrication technology of gallium nitride chips.

Institutional review

Judging from the results of the semi-annual report, the operating income of the semiconductor sector in the first half of this year increased by an average of about 17% compared with the same period last year; the net profit belonging to the shareholders of the parent company increased by an average of 36% compared with the same period last year, and the performance of more than half

Guangfa Securities said that from the tender data from July to August, we can see that the replacement process of domestic equipment is good. On the one hand, there are a large number of winning equipment, on the other hand, the category continues to expand, and the degree of substitution is expected to continue to exceed expectations. The overall share of domestic equipment in the downstream domestic wafer production line is also expected to be further enhanced. At present, it is recommended to keep an eye on investment opportunities in semiconductor equipment.

Dongguan Securities believes that semiconductor materials are mainly used in integrated circuits. Every link of semiconductor manufacturing is inseparable from semiconductor materials, the demand for semiconductor materials will increase, and upstream semiconductor materials will benefit from certainty. It is recommended to pay attention to the semiconductor materials stocks are Shanghai Xinyang, Jiang Hua Wei, Feikai Materials, Jacques Technology, Jingrui shares, Jiangfeng Electronics, Shanghai Silicon Industry, Anji Technology.

Tianfeng Securities Research and report analysis, semiconductors have five sub-segments, namely, closed testing, design, equipment, materials, IDM. Tianfeng Securities said that "domestic substitution" is the semiconductor plate logic of the current time, and the "growth" under "domestic substitution" is better than "cyclical" consideration.