"At present, the prosperity of the semiconductor industry has declined significantly. Although there is still a structural shortage and some wafer factories have limited capacity, investment institutions tend to be cautious about projects in the middle and later stages." An investor told the media that Yuexin Semiconductor used to focus on the consumer and industrial sectors, and its competitive advantage was not obvious. The external financing plan at the end of last year was postponed to April this year.
It is reported that Yuexin Semiconductor announced to complete the financing of 4.5 billion yuan after the industrial and commercial change in early July, and the financing funds are also mainly used for the third phase project. This round of financing was jointly led by Guangdong Industrial Fund and GAC Capital, followed by Yuexiu Industrial Fund, Yingke Capital and other old shareholders such as Science City Group and GF Securities.
Among them, Guangzhou Industrial Fund has so far participated in three external financing of Guangdong Semiconductor; GAC Capital, Huadeng International, Lanpu Venture Capital and other shareholders also participated in the second phase project financing of the company in 2021.
According to the planning of Yuexin Semiconductor, the company will become a 12 inch chip manufacturing company focusing on analog chip manufacturing with the operation strategy of "customized OEM". At present, the Company‘s Phase I and Phase II projects have been completed and put into operation, with a monthly production capacity of 40000 pieces. The third phase of the project was officially launched on August 18. It is estimated that the project will increase the production capacity by 40000 pieces/month after reaching the capacity.
Source: Network
The current phase III project under construction formally aims at industrial electronics and automotive electronics, and further extends the technology node to 55-40nm and 22nm processes to achieve scale effect and quality benefit of analog chip manufacturing. According to the plan, the third phase of the project plans to build industrial level and vehicle specification level simulation characteristic process platforms, which are mainly used in power device chips, signal chain chips, power management chips, microcontroller chips, image sensors and other products of power electronics, server/5G base stations and automotive electronics.
It is reported that the company still faces a large capital gap compared with the total investment of 16.25 billion yuan in the third phase project. A person close to Yuexin Semiconductor disclosed to the media that the company is now fully expanding its production and is working on the third phase. "Phase III is relatively high-end, and the gross profit rate will be higher. Because of the accelerated withdrawal in the past few years, the financial performance will not be too good, and the company will raise funds through capital increase or IPO and other ways. However, there is no sign that Yuexin will queue up for the time being, and even the stock reform has not been done."
In any case, as the only 12 inch chip manufacturing enterprise in the Guangdong Hong Kong Macao Greater Bay Area that focuses on analog chip field and has entered full mass production, Yuexin Semiconductor has achieved formal mass production of Phase I and Phase II projects in 2019 and 2021, starting from consumer chips, and then extending to industrial and vehicle specification chips, helping Guangdong to build a globally competitive innovation highland in the integrated circuit industry.
Previously, the 14th Five Year Plan officially released by Guangdong Province proposed that by 2025, the operating revenue of semiconductor and integrated circuit industry will exceed 400 billion yuan. With Guangzhou, Shenzhen and Zhuhai as the core, the whole industrial chain of semiconductor and integrated circuit covering design, manufacturing, sealing and testing will be built.
In addition, Guangzhou Municipal Bureau of Industry and Information Technology also released the Guangzhou Semiconductor and Integrated Circuit Industry Development Action Plan (2022-2024), proposing that by 2024, the annual main business income of the semiconductor and integrated circuit industry will exceed 50 billion yuan, with an average annual growth of more than 15%. Guangdong Semiconductor has become the focus of the "Guangdong Strong Core" project.
After all, Guangdong is also an important city in the automobile industry, and the terminal market and manufacturing links are conducting more coordination. It is understood that GAC has already made a connection with Guangdong Semiconductor to jointly develop chips for future models.
From the outside world‘s perspective, Yuexin started from consumer level chips, and then expanded to industrial and vehicle specification level chips. Mass production has not only achieved the leap from "0" to "1" for the integrated circuit manufacturing enterprises independently cultivated in Guangdong Province and Guangzhou, but also become an important carrier for the development of the "strong core project" in Guangdong Province.
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