据相关数据显示，11月国内半导体领域统计口径内共发生64起私募股权投融资事件，较上月58起增加10.34%；已披露的融资总额合计约34.91亿元，较上月10.96亿元增加218.52%。① How did the Global Semiconductors Industry perform in the third quarter? ② Which areas in Semiconductors should be focused on next year?
According to the report on December 20 (edited by HuJiarong), benefiting from a significant increase in the total financing amount in the Semiconductors industry last month, most Hong Kong stocks in the Semiconductors sector rose. As of the time of this report, Semiconductor Manufacturing International Corporation (00981.HK), HUA HONG SEMI (01347.HK), and SHANGHAI FUDAN (01385.HK) increased by 7.84%, 5.12%, and 4.08% respectively.
Note: Performance of semiconductor stocks
According to relevant data, 64 private equity financing events occurred in the domestic Semiconductors sector in November, an increase of 10.34% compared to 58 events in the previous month; the total disclosed financing amount was approximately 3.491 billion yuan, an increase of 218.52% compared to 1.096 billion yuan last month.
From a subdivision perspective, the chip design sector was the most active in November, with the highest disclosed financing amount, totaling 27 financing events, with a disclosed total amount of about 2.22 billion yuan. UNISOC received nearly 2 billion yuan in equity investment from Yuanhe Puhua, which was the highest disclosed investment event in the Semiconductors sector this month.
At the same time, according to the latest report from market research organization TrendForce, in the third quarter of 2024, the total revenue of the top ten Global foundries is expected to grow by 9.1% month-on-month, reaching 34.9 billion dollars, setting a new historical high. This growth is mainly attributed to new Smart Phones and PC/laptop releases driving supply chain stocking, as well as sustained strong demand for high-performance computing related to AI servers.
The growth in the third quarter was partly due to the significant contribution from the High Stock Price 3nm process. Looking ahead to the fourth quarter, TrendForce estimates that advanced processes will continue to drive revenue for the top ten foundries.
Institutions are Bullish on Semiconductors performance in 2025.
Recently, Jianyin International pointed out that the Semiconductors Industry is experiencing a continuous recovery, and it is expected to welcome a new growth cycle in 2025. Data from the World Semiconductor Trade Statistics (WSTS) shows that in September and October 2024, Global Semiconductors sales increased by 23% and 15% year-on-year, marking the 14th consecutive month of year-on-year growth since September 2023.
WSTS's latest forecast indicates that the Global Semiconductors market will grow by 19% year-on-year in 2024, with a market scale reaching 627 billion dollars, while an 11% year-on-year growth is expected in 2025.
Ping An Securities also mentioned in its report that the growth of the Semiconductors Industry will be smoother and healthier in 2025. In terms of investment direction, focus on AI and its related fields, recommending investments in processor chip companies and HBM technology companies. At the same time, network chips and optoelectronic fields are also worth paying attention to for investments.
On the terminal side, companies such as SoC chips will become the focus. Additionally, companies related to the domestic EDA tools, packaging technology, products and devices, as well as materials, will also become investment hotspots due to the significant space for domestic substitution.