Global wafer makers are actively investing in advanced manufacturing processes, and continue to move towards line pitch scaling below 28, 20 nm and 16 and 14 nm. , Among them, Xinxing plans to invest NT$10 billion in 2014, 70~80% of which will be used in the new IC carrier board factory, mainly producing FC BGA carrier boards, and it is expected to start mass production in the third quarter; Jingshuo’s capital expenditure in 2014 Continuing to hit new highs, it will reach NT$5 billion to NT$6 billion for the construction of new factories and the deployment of 20- and 16-nanometer process substrate production capacity; as for Giant Oak, it is optimistic about the 16-nanometer process trend and has completed high-level drilling Pad product development, and send samples to customers for certification.
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With the development of semiconductor technology driven by smartphones and tablet computers, large foundries and IDMs have sprinted into advanced manufacturing processes, including TSMC, Intel, Samsung Electronics and other semiconductor manufacturers to maintain high capital in 2014 Expenditure, IC carrier board factory Xinxing, Jingshuo, etc. are also closely behind, making every effort to develop high-end flip chip package carrier board production capacity.
Xinxing invested NT$10.4 billion to build a new factory in 2013, and will invest another 10 billion yuan in 2014, of which about 70~80% will be used to build the new factory’s high-end FC BGA substrate capacity, which will start production in the third quarter. Production; Jingshuo continued to purchase a new factory in 2013, and the capital expenditure reached NT$4.5 billion to 5 billion. In 2014, the capital expenditure will continue to increase to 5 billion to 6 billion yuan, and the capital expenditure has reached a new high for two consecutive years. The main development 20, The production capacity of the 16nm process carrier board is scheduled to start in 2015.
At present, about 40% of the revenue of Nandian, a major IC carrier board manufacturer, comes from flip-chip packaging carrier boards, and most of them are FC BGA carriers. Affected by the sluggish demand for PCs, the capacity utilization rate of Nandian IC carrier boards is still low. Benefiting from the hot sale of game consoles, shipments have been relatively strong since the fourth quarter of 2013. In order to increase revenue momentum, Nandian plans to increase the production capacity of chip size flip chip packaging (FC CSP) and expand the layout of mobile devices.
The IC substrate drilling process pad material supplier Giant Oak has a market share of up to 90% in the Taiwan IC substrate market. In response to the evolution of advanced semiconductor processes, Giant Oak has taken the lead in the development of 16nm process drilling pads, using Japanese IC substrates. The factory is the main supplier, and it has already sent samples to customers for testing, and is optimistic about the demand potential of the 16nm process in the next two years. In addition, the demand for high-end drilling mats for soft boards is also expected to increase with the requirements of thin lines and production efficiency.
360°: Giant Oak
In 2013, Giant Rubber, a major PCB backing manufacturer, had consolidated revenue of NT$1.15 billion, an annual increase of 5.63%, a net profit after tax of 117 million yuan, an annual increase of 36.17%, and an after-tax EPS of 2.24 yuan, a record high in 8 years. Oak’s board of directors decided to distribute a cash dividend of 1 yuan per share.
Giant Oak’s profit improved in 2013, mainly due to the fact that high-end products accounted for 30% of Giant Oak’s revenue, driving gross profit margin to grow from 20.67% in 2012 to 22.45%; The utilization rate has increased and the economic scale has been reached, which has brought positive help to the gross profit margin.
Looking forward to 2014, with the development of advanced semiconductor processes to high-end technology for IC substrates, FPCs are also actively investing in thin circuit technology, bringing stronger demand for high-end drilling pads; industry players said that FPCs are light and light , The degree of thinning is high, and the consumables in the drilling process are also a part of the bottleneck. The cushion materials used by the soft board factory are mostly products with high unit price and high gross profit, so it will help to further improve the product portfolio of Giant Rubber.
According to market estimates, Giant Oak’s 2014 performance outlook is still quite optimistic. The revenue is expected to increase by 10-15% annually, and the proportion of high-end products in revenue will also increase to 35%, driving the average gross profit margin to remain at the level of 24-25%.