Asia and Global Semiconductor and Tech Research

Andrew Lu

Former Head of Asia ex-Japan Semiconductor and TFT-LCD/Touch Research at Barclays and Citi Bank, Former Head of Technology at 國金證券

Semiconductor Events Deserving Your Attention @9/1/2024

Takeaways After Global Semi Equipment Model Updated and Our View on 2024/2025

Sox Index Broke New High; Nov US SEMI Equipment and Oct SIA Sales Showed Y/Y Improvement

What to Avoid if AI Server Will Continue to Squeeze General Server Market in 2024-2025?

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Thematic (Sector/Industry)

United states Semiconductors and semiconductor equipment / Thematic (Sector/Industry)

<ul>
<li>The oversupply of 8"/12" mature technology and price war especially within China for the next 5 years is inevitable, especially negative for SMIC and Hua Hong Semi.</li>
<li>Production moving out of China semi demand might increase to 65-70% in next five years to benefit Globalfoundries, UMC, Vanguard, Powerchip mitigating impacts from rising domestic replacement in China.  </li>
<li>By building up in-house fabs, Huawei and HiSilicon supply chain vendors will be benefited the most like semiconductor equipment, material, fab construction, CoWoS interposer, and CoWoS packaging vendors.</li>
</ul>


The oversupply of 8"/12" mature technology and price war especially within China for the next 5 years is inevitable, especially negative for SMIC and Hua Hong Semi.
Production moving out of China semi demand might increase to 65-70% in next five years to benefit Globalfoundries, UMC, Vanguard, Powerchip mitigating impacts from rising domestic replacement in China.  
By building up in-house fabs, Huawei and HiSilicon supply chain vendors will be benefited the most like semiconductor equipment, material, fab construction, CoWoS interposer, and CoWoS packaging vendors.


Semiconductor Manufacturing International Corp (SMIC) (981 HK)

Semiconductor Manufacturing International Corp (SMIC)

Advanced Micro-Fabrication Equ (688012 CH)

No Sign of Selling Advanced Scanners by ASML to China Customers, Implications