Who is the top brother in the field of packaging and testing? Changdian Technology, Huatian Technology, Tongfu Microelectronics...

Last year, the trade war between China and the United States was very fierce, and the ones that benefited the most were semiconductor companies. In the semiconductor industry chain, our packaging and testing technology is very good. Although there is still a big gap with the United States in terms of chip manufacturing and design, we can fully stand alone in the field of packaging and testing. The three leaders in the field of packaging and testing are Changdian Technology, Huatian Technology, and Tongfu Microelectronics. These three companies are all very high-quality targets from both fundamental and technical perspectives.

1. Company Profile

Changdian Technology is the world's leading provider of semiconductor microsystem integration and packaging testing services. It provides a full range of microsystem integration one-stop services, including integrated circuit system integration packaging design, technology development, product certification, wafer mid-level testing, wafer-level mid-range packaging testing, system-level packaging testing, and finished chip testing. It can also provide direct shipment to semiconductor suppliers around the world.

Huatian Technology belongs to the integrated circuit packaging and testing industry. The company's main business is the packaging and testing of semiconductor integrated circuits. The packaging capacity of integrated circuit products has rapidly increased from 1 billion pieces in 2004 to 3 billion pieces by the end of June 2007. Its annual packaging capacity ranks third among domestic professional packaging companies. At present, the company's integrated circuit packaging products include more than 80 varieties in five series including DIP, SOP, SSOP (including TSSOP), QFP (including LQFP), and SOT. The packaging yield rate is stable at more than 99.7%. "RF chip silicon-based fan-out packaging technology" won the 13th (2018) China Semiconductor Innovation Product and Technology Award.

Tongfu Microelectronics specializes in the packaging and testing of integrated circuits. It has the production capacity to package 1.5 billion integrated circuits and test 600 million integrated circuits annually. It is one of the largest integrated circuit packaging and testing companies in China with the most product varieties. The company currently has a series of packaging forms such as DIP, SIP, SOP, QFP, SSOP, TQFP, MCM, etc., and multiple products fill the domestic gap. In 2019, the company won the title of "National Green Factory".

1. Key points of the company

Changdian Technology Company relies on "big funds + SMIC" to form a virtual IDM leader in chip manufacturing + packaging and testing. With the dual force of the substantial increase in domestic upstream wafer production capacity and the strengthening of independent control by downstream end customers, the domestic semiconductor industry chain has begun to accelerate its reshaping. As the leading packaging and testing foundry, Changdian Technology ranks among the top three in the world and first in the country. It will further usher in a wave of domestic substitution demand.

Huatian Technology Company issued shares to industrial funds and purchased 49.48% of Furunda's equity and 47.63% of Tongrunda's equity held by industrial funds. After the merger, the company acquired high-end packaging technologies such as FCBGA and a large-scale mass production platform, allowing the company to provide the most complete range of flip-chip packaging and testing services. At the same time, the company is more capable of supporting the R&D and mass production of domestic CPUs, GPUs, gateway servers, base station processors, FPGA (Field Programmable Gate Array) and other products. Tongfu Chaowei Suzhou has become a domestic high-end processor chip packaging and testing base, breaking foreign monopoly and filling the country's gaps in this field.

Tongfu Microelectronics makes full use of the two high-end CPU and GPU mass production packaging and testing platforms, Tongfu Chaowei Suzhou and Tongfu Chaowei Penang, and actively undertakes high-end CPU and GPU packaging and testing business for domestic and foreign customers. Business cooperation with Broadcom, Samsung, IDT, NXP and Chinese domestic CPU chip companies is progressing smoothly.

2. Main business

Changdian Technology Company mainly provides one-stop services for integrated circuit packaging and testing in the middle and back-end semiconductor manufacturing process, including pre-packaging wafer testing and finished product testing. The company provides one-stop services for microsystem integrated packaging and testing, including integrated circuit design and characteristic simulation, mid-wafer packaging and testing, and system-level packaging and testing services.

The main business of Huatian Technology Company is integrated circuit packaging and testing. At present, the company's integrated circuit packaging products mainly include DIP/SDIP, and many other series. Products are mainly used in computers, network communications, consumer electronics and smart mobile terminals, Internet of Things, industrial automation control, automotive electronics and other electronic complete machines and intelligent fields. The company is a professional integrated circuit packaging and testing OEM enterprise. Its main business model is to provide customers with professional integrated circuit packaging and testing services based on customer requirements and industry technical standards and specifications.

Tongfu Microelectronics Company has independent intellectual property rights in WLCSP, MCM, SiP, QFN, BGA, automotive electronic packaging technology, BUMP, WLP, Cu pillar and other technologies. The company has successfully developed and mass-produced automotive MEMS, Hall sensors, MCUs and new generation electronic ignition modules. Products are used in world-renowned automobile brands such as BMW, Toyota, General Motors, Suzuki, etc.

2. Financial aspect

Changdian Technology Company's revenue in the first three quarters of 2020 was 18.76 billion yuan, a year-on-year increase of 15.9%. The net profit attributable to the parent company was 760 million yuan, a year-on-year increase of 520.2%. The net loss in the same period last year was 180 million yuan, turning losses into profits. Among them, Q3 revenue was 6.787 billion yuan, and net profit was as high as 398 million, an increase of 520.17%, setting the best performance record in history.

The company continues to increase research and development. In the first three quarters of 2020, R&D expenditure was 768 million yuan, a year-on-year increase of 33.3%. It continues to increase the proportion of R&D expenditure and consolidate core competitiveness, thus stabilizing the company's leading position in domestic and foreign markets.

Compared with last year's third quarter report, Huatian Technology's profitability remains stable. Among them, the ability to reward shareholders has been greatly enhanced, and corporate operating efficiency has doubled. The ability to repay debt has been weakened. is at a relatively high level for the year. Among them, the proportion of liabilities and assets remains stable, and the ability to pay cash immediately has declined significantly. Operational capabilities remain stable. Among them, the efficiency of fund use has declined, and medium- and long-term financing capabilities have been greatly suppressed. Cash flow capabilities have been enhanced. is at a year-high level. Among them, the company's cash collection quality is poor, and its sales collection ability has been greatly weakened.

Compared with last year's third quarter report, Tongfu Microelectronics' profitability has improved. is at a year-high level. Among them, the operation turned losses into profits, the operating efficiency improved, and the profitability of total assets increased significantly. Compared with last year's third quarter report, Tongfu Microelectronics' operating capabilities remain stable. Average position for the year. Among them, the comprehensive utilization of assets has been optimized and inventory liquidity has been enhanced. Cash flow capabilities have been enhanced. is at a year-high level. Among them, the ability to collect sales money has begun to strengthen, and the company's cash collection quality is slightly poor.

3. Summary

Today, 5G, high-performance computing, automotive electronics, and CIS are important driving forces for the growth of the packaging industry. In response to the needs of electronic components for miniaturization, multi-function, and shortened development cycles, the proportion of advanced packaging in the semiconductor industry has steadily increased. The demand for advanced packaging processes is increasing day by day, but there is a certain lag in production capacity development. Companies that take the lead in deploying advanced packaging such as SiP, such as Changdian Technology, will usher in development opportunities. Changdian Technology, Huatian Technology, and Tongfu Microelectronics, who is the leader in the field of chip packaging and testing?

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