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SiCarrier, a China-based firm linked to Huawei, is developing machines to replace ASML's advanced EUV equipment, aiming to reduce China's reliance on foreign technology for semiconductor manufacturing. Supported by the Shenzhen government, SiCarrier is working on a range of chip fabrication tools, with prototypes expected to enter trial production by late 2025. Despite challenges, including SMIC's current limitations with DUV equipment, these efforts could significantly advance China's chip-making capabilities.
Huawei Technologies is enhancing its autonomy in personal computing by developing the Kirin X90 PC chip, which utilizes SMIC's 7nm technology. This move marks a shift away from reliance on Intel and Microsoft, and the new processor has achieved China's Level 2 national certification.
Huawei has introduced the Kirin X90 chip, marking a shift away from Intel processors and Windows software due to US restrictions. The chip, developed by HiSilicon, has received a Level 2 national security certification and is expected to utilize SMIC’s 7nm process and Taishan cores. As Huawei transitions its PCs and laptops to its own hardware and software, it may launch an "AI PC" running HarmonyOS as early as April, following the end of its Windows license.
Taiwan Semiconductor Manufacturing Co. (TSMC) solidified its lead in the global pure-play wafer foundry market, achieving a 67.1% market share in Q4 2024, up from 64.7% the previous quarter, with sales reaching US$26.85 billion, a 14.1% increase fueled by strong demand for smartphones and AI applications.In contrast, Samsung Electronics experienced a decline in market share from 9.1% to 8.1%, with sales falling 1.4% to US$3.26 billion due to lost orders from existing clients. Other notable players included SMIC (5.5%), UMC (4.7%), GlobalFoundries (4.6%), and Huahong Group (2.6%), with the top 10 companies generating US$38.48 billion in sales, representing 96% of the global market.
SMIC reported a significant sales increase in 2024, reaching $2.207 billion in Q4, a 31.5% year-over-year growth, and an annual revenue of $8.03 billion, up 27%. However, net profit plummeted by 45.4% to $493 million, primarily due to high production costs for Huawei's 7nm Kirin chips. Despite the challenges posed by US chip bans, SMIC anticipates a growth of 6 to 8% in Q1 2025, with a gross margin of 19-21%.
SMIC reported a record revenue of $8.03 billion for 2024, a 27% increase, but its net profit fell 45.4% to $493 million, largely due to high costs associated with producing 7nm chips for Huawei. In Q4 2024, revenue reached $2.207 billion, up 31.5% year-over-year, with China contributing 89.1% of total revenue. Despite U.S. sanctions, SMIC anticipates a 6-8% revenue growth in Q1 2025, aiming for above-industry-average growth while maintaining capital expenditures around $7.33 billion.
DeepSeek's research indicates that Huawei's Ascend 910C AI chip achieves 60% of the inference power of NVIDIA's H100, showcasing China's advancements in AI technology amid U.S. restrictions. Built on SMIC's 7nm process, the Ascend 910C features 53 billion transistors but still lags in AI training reliability compared to NVIDIA's established ecosystem.Additionally, the U.S. government is investigating whether DeepSeek illegally acquired NVIDIA chips, while President Trump plans to impose tariffs on chips and other sectors by February 18.
Huawei's Ascend 910C processor achieves 60% of Nvidia's H100 inference performance, showcasing significant advancements despite U.S. sanctions. While it excels in inference, challenges remain in AI training reliability, where Nvidia still leads. The chip, built using SMIC's 7nm technology, aims to reduce China's dependence on Nvidia GPUs.
The Hang Seng Index (HSI) has rebounded from early-year losses, driven by support measures from Beijing and strong performances from tech giants like JD.com, Xiaomi, and Alibaba. The index has broken key resistance levels, with a target of reaching 23,000 points in the coming weeks, as market sentiment improves ahead of the National People's Congress meeting in March. Investors are advised to buy above 20,000 points, with a stop at 29,500 points, reflecting a favorable risk/reward ratio.
Shares of major semiconductor equipment firms surged following reports that the U.S. is considering less stringent sanctions on China's chip industry. ASML and Tokyo Electron saw significant gains as the U.S. may limit the export blacklist for Chinese firms, potentially softening the impact on ASML's revenue from China. Analysts noted that excluding ChangXin Memory Technologies from the blacklist could lead to a smaller decline in ASML's sales than previously expected.
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