1. Forecast: The delivery period of most automotive chips will continue to shorten in 2023

According to the science and Technology Innovation Board Daily, the shortage of automotive chips has been gradually improved since the fourth quarter of 2022. In addition to silicon-based power devices and MCU are still in short supply, PMIC, CIS, embedded multimedia card and display driver IC have gradually loosened. However, with the backlog of orders gradually declining, the purchasing power of automotive chips in the automotive supply chain is gradually fading, and it is estimated that the delivery period of most automotive chips will continue to shorten in 2023.

2. Infineon raised its guidance, citing strong automotive and industrial sales

According to March 29, Infineon expects the second quarter and fiscal 2023, said the business momentum is resilient; the second quarter revenue is expected to exceed 4 billion euros, the company previously expected to be 3.9 billion euros; the annual revenue is expected to be above about 15.5 billion euros, ± 50 million euros; profit margin is expected to reach the upper end of the 20% -30% range.

3. SMIC generated 49.5 billion yuan in 2022, and produced nearly 100 billion chips

According to Fast Technology, on the evening of March 28, SMIC released the 2022 annual report, achieving the strongest annual performance in history, with operating revenue of about 49.516 billion yuan, up 39% year on year; net profit of about 12.133 billion yuan, up 13% year on year. At the end of the year, the company's total assets were $43.8 billion, up 21% from the previous year, and its debt-to-asset ratio was 34%.

Over the past 22 years, the company has produced more than 60 million wafers in 8 inches and nearly 100 billion chips.

Under IFRS, SMIC expects a tenth lower year-on-year revenue decline in 2023 and gross margin of around 20%; depreciation increases by more than 20%, and capital expenditure is roughly flat from the previous year; monthly capacity increase by the end of the year is similar to the previous year.

4. SEMI: The global annual capacity expansion rate of 300mm fabs is slowing down in 2023

Global semiconductor manufacturers expect to increase 300mm of wafer plant capacity in 2026, to a record high of 9.6 million wafers a month, according to a report released by the International Semiconductor Industry Association (SEMI). After strong growth in 2021 and 2022, the 300mm wafer plant capacity expansion is expected to slow this year due to weak demand for memory and logic components.

During the forecast period from 2022 to 2026, chipmakers will increase 300mm fabs capacity to meet demand growth, including Grid Core, Huahong Semiconductor, Infineon, Intel, Kai Xia, Micron, Samsung, SK Hynix, SMIC, STF, Texas Instruments, TSMC and UMC. The companies plan to have 82 new plants and production lines operating between 2023 and 2026.

5. IC design industry: TSMC short-term price increase possibility is not high

According to Taiwan, China Industrial and Commercial Times, the electronics industry urgent orders, the market said TSMC may raise prices in the second half of the year, which TSMC does not respond to the price issue. However, according to IC designers, TSMC wafer foundry prices were negotiated before the second quarter, the third quarter price has not changed, and the fourth quarter price will not start until April.

The mature production capacity of TSMC has decreased from the previous full load to about 80% -90%, and other plants such as UMC, LSMC and the world advanced manufacturers have decreased to about 70%. When the demand has not been fully recovered, most of them have no capital to raise the price again.

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