Ⅰ Company Overviw
China Resources Microelectronics Co., Ltd. is one of the important enterprises in China's semiconductor industry, and belongs to China Resources Group, a large state-owned enterprise. Founded in 2003 and headquartered in Wuxi, Jiangsu, the company has gradually developed into a comprehensive IDM (vertically integrated manufacturing) semiconductor enterprise integrating chip design, wafer manufacturing, packaging and testing through the integration of many well-known semiconductor companies in China (such as Huake Electronics, China Huajing, Shanghua Technology, etc.). In 2020, CR Microelectronics successfully landed on the Science and Technology Innovation Board, becoming the first company in China to be listed with a red-chip structure, further consolidating its leading position in the industry.
Ⅱ Core business and business model
CR Microelectronics adopts the operation model of "IDM + foundry", and its business covers the entire semiconductor industry chain, including:
-Chip design: Focus on power semiconductors, smart sensors and smart control
-Wafer manufacturing: 6-inch and 8-inch wafer production capacity
- Packaging and testing: Provide a complete back-end solution
-Discrete devices: MOSFETs, IGBTs, SiC/GaN and other power devices
The company's products are widely used in consumer electronics, industrial control, new energy vehicles, photovoltaic energy storage and other fields, forming a complete closed loop from design to mass production, and enhancing the independent and controllable ability of the supply chain.
Figure: Introduction of China Resources Microelectronics
Ⅲ Industry status and competitive advantage
In China's semiconductor industry, CR Microelectronics occupies an important position:
-Power semiconductor leader: According to the China Semiconductor Association, the company ranks first among local companies in the MOSFET market share in China, second only to international giants Infineon and Onsemi.
-Scarce IDM model: one of the few semiconductor companies in China with the ability of the whole industry chain, which can effectively control costs and optimize product performance.
-Leading technology: The company continues to make breakthroughs in the field of third-generation semiconductors (SiC/GaN), has mastered a number of key technologies, and has more than 1,200 patents.
Ⅳ The driving force of growth
1. Domestic substitution opportunities: With the support of national policies, the domestic semiconductor industry chain has accelerated its independence, and CR Microelectronics, as a leading enterprise, has benefited significantly.
2. New energy vehicles and industrial demand: The demand for power semiconductors in electric vehicles, photovoltaics, energy storage and other fields has surged, driving the company's business growth.
3. R&D innovation: The company continues to increase R&D investment in cutting-edge technologies such as SiC and GaN, and lays out the high-end market.
4. Capacity expansion: Increase the production capacity of 8-inch wafers through fundraising and investment projects to further consolidate the market position.
With the IDM model, technology accumulation and policy support, CR Microelectronics is expected to further expand its market share in the wave of domestic substitution. With the continuous growth of downstream demand for new energy vehicles and industrial automation, the company's future performance has strong growth momentum. At the same time, its layout in the field of third-generation semiconductors will also lay a solid foundation for long-term development.
As a benchmark enterprise in China's power semiconductor industry, CR Microelectronics is moving towards the world's leading semiconductor company, and its future performance is worth looking forward to.
