Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

TongFu Microelectronics   / Equity Bottom-Up

<ul><li>TSMC's new wafer manufacturing technology is changing the advanced packaging industry, causing a forecasted slump in general-purpose memory for Samsung and SK Hynix.</li><li>Micron is leading the way in HBM4 development, aiming for mass production by 2026, while India's semiconductor growth is highlighted by Marvell ahead of VLSI conference.</li><li>China's chip crackdown escalates as global semiconductor landscape evolves, with Tesla Shanghai factory head resigning and Xiaomi denying poaching rumors. Dixon partners with Vivo to boost local production in India.</li></ul>

TSMC's new wafer manufacturing technology is changing the advanced packaging industry, causing a forecasted slump in general-purpose memory for Samsung and SK Hynix.Micron is leading the way in HBM4 development, aiming for mass production by 2026, while India's semiconductor growth is highlighted by Marvell ahead of VLSI conference.China's chip crackdown escalates as global semiconductor landscape evolves, with Tesla Shanghai factory head resigning and Xiaomi denying poaching rumors. Dixon partners with Vivo to boost local production in India.

Tech Supply Chain Tracker (24-Dec-2024): TSMC transforms packaging market with wafer manufacturing 2.0.

<ul><li>Arm shifts focus to AI hardware, software, and ecosystem development beyond semiconductors.</li><li>Chinese state CRC acquires JCET, while Intel faces five crises with CEO departure.</li><li>Brightek partners with SiPhIA for automotive opportunities, as Chinese EV makers and European auto layoffs impact global supply chains.</li></ul>

Arm shifts focus to AI hardware, software, and ecosystem development beyond semiconductors.Chinese state CRC acquires JCET, while Intel faces five crises with CEO departure.Brightek partners with SiPhIA for automotive opportunities, as Chinese EV makers and European auto layoffs impact global supply chains.

Tech Supply Chain Tracker (04-Dec-2024): Arm targets AI hardware, software, ecosystem.

Taiwan Tech Focused Senior Analyst

Patrick Liao

Semiconductor Manufacturing International Corp (SMIC) / Equity Bottom-Up

Semiconductor Manufacturing International Corp (SMIC)

<ul>
<li>In 4Q24, the Company expects revenue to be flat to up 2% QoQ and gross margin to range from 18% to 20%.</li>
<li>2025 will expect AI to grow 10%+, others segment grows about single digits.  </li>
<li>SMIC's capex increase ~60k/8" equivalent capacity this year, and plan to increase around 50k per year.</li>
</ul>


In 4Q24, the Company expects revenue to be flat to up 2% QoQ and gross margin to range from 18% to 20%.
2025 will expect AI to grow 10%+, others segment grows about single digits.  
SMIC's capex increase ~60k/8" equivalent capacity this year, and plan to increase around 50k per year.


Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>The review period for the December rebalance of the CSI All Share Semiconductor Index ended 31 October.  The changes should be announced on 29 November and implemented on 13 December.</li>
<li>We forecast 12 adds and 6 deletes for the index with a one-way turnover of 2.5% and a one-way trade of CNY 642m (US$90m).</li>
<li>The forecast adds to the index have outperformed the forecast deletes over the last few months with a move higher in the short-term too.</li>
</ul>


The review period for the December rebalance of the CSI All Share Semiconductor Index ended 31 October.  The changes should be announced on 29 November and implemented on 13 December.
We forecast 12 adds and 6 deletes for the index with a one-way turnover of 2.5% and a one-way trade of CNY 642m (US$90m).
The forecast adds to the index have outperformed the forecast deletes over the last few months with a move higher in the short-term too.


CSI All Share Semiconductor Index Rebalance Preview: 18 Changes as Adds Outperform

Tianshui Huatian Technology Co, Ltd. / Equity Bottom-Up

<ul><li>Samsung unlikely to follow Intel in spinning off its foundry business, focusing on their own semiconductor production.</li><li>Marvell co-founder Sehat Sutardja passes away, leaving a void in the semiconductor industry mourning the loss of a visionary.</li><li>HTC launches VIVE Focus Vision with advanced XR features for gamers and enterprises, aiming to capture a niche market.</li></ul>

Samsung unlikely to follow Intel in spinning off its foundry business, focusing on their own semiconductor production.Marvell co-founder Sehat Sutardja passes away, leaving a void in the semiconductor industry mourning the loss of a visionary.HTC launches VIVE Focus Vision with advanced XR features for gamers and enterprises, aiming to capture a niche market.

Tech Supply Chain Tracker (21-Sep-2024): Samsung unlikely to follow Intel's spinoff.

China

JCET Group Co., Ltd. operates in the semiconductor industry.  The Company's products include discrete devices and integrated circuits.  Through its subsidiaries, Jiangsu Changjiang also manufactures signal lamps used in industrial equipment and anti-theft door systems for consumer use.

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JCET Group (600584 CH)

Tech Supply Chain Tracker (24-Dec-2024): TSMC transforms packaging market with wafer manufacturing 2.0.

TSMC shakes up advanced packaging with new wafer tech; Micron focuses on overcoming memory slump, advancing HBM4 development for mass production in...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (04-Dec-2024): Arm targets AI hardware, software, ecosystem.

Arm expands focus beyond semiconductors to include AI hardware, software, and ecosystem development; Intel faces crises, Brightek joins SiPhIA,...

Tech Supply Chain Tracker

SMIC (981.HK): Keeping a Steady Growth

Company forecasts steady revenue growth and gross margin improvement, with a focus on AI and capacity expansion, likely to grow around 50k/ 8"...

Patrick Liao

Tech Supply Chain Tracker (21-Sep-2024): Samsung unlikely to follow Intel's spinoff.

Samsung not spinning off foundry business, rise in cobots in China, Marvell co-founder passes away, HTC launches VIVE Focus Vision, Suchi Semicon...

Tech Supply Chain Tracker

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Market Cap (USDm)

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Tech Supply Chain Tracker (24-Dec-2024): TSMC transforms packaging market with wafer manufacturing 2.0.

TSMC shakes up advanced packaging with new wafer tech; Micron focuses on overcoming memory slump, advancing HBM4 development for mass production in...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (04-Dec-2024): Arm targets AI hardware, software, ecosystem.

Arm expands focus beyond semiconductors to include AI hardware, software, and ecosystem development; Intel faces crises, Brightek joins SiPhIA,...

Tech Supply Chain Tracker

SMIC (981.HK): Keeping a Steady Growth

​Company forecasts steady revenue growth and gross margin improvement, with a focus on AI and capacity expansion, likely to grow around 50k/ 8"...

Patrick Liao

CSI All Share Semiconductor Index Rebalance Preview: 18 Changes as Adds Outperform

There could be 12 adds, 6 deletes in Dec. Impact is not very large, but 12 stocks will have flows from other index trackers too. The forecast adds...

Brian Freitas

Tech Supply Chain Tracker (21-Sep-2024): Samsung unlikely to follow Intel's spinoff.

Samsung not spinning off foundry business, rise in cobots in China, Marvell co-founder passes away, HTC launches VIVE Focus Vision, Suchi Semicon...

Tech Supply Chain Tracker

Company forecasts steady revenue growth and gross margin improvement, with a focus on AI and capacity expansion, likely to grow around 50k/ 8"...