TSMENT interpretation

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TSMENT interpretation

2022-01-15 12:03:55 5 ℃

On January 13, 2022, Taixia Electric held the first online corporate preaching meeting in the New Year, which is the official interpretation of the financial report.

Today, the chip industry has become the focus of global attention, and TSMC is the focus company in this focus. In 2022, everyone wanted to see the tide of deficiency, the progress of the most advanced process, and the possible changes in the new competitive pattern, and the latest financial report and interpretation of TSMC, naturally considered it to answer everything. One illustration.

Another year

First of all, the number of fiscal white paper black characters has answered the first person concerned: How much is the TSM?

A simple conclusion is that 2021 is definitely a year of TSMEN.

According to the financial report, TSMC has reached $ 15.74 billion in the fourth quarter of 2021, an increase of 21.2% year-on-year. This is a new high of TSMC continued to create a new high, and the 2021, the revenue of TSMC. It was 56.82 billion US dollars, and the revenue growth of PTT was up to 24.9% compared to 2020.

While revenue is steadily improved, capital expenditures have also increased significantly, and the gross profit margin changes of TSME can remain smoothly. According to the financial report, TSMC's fourth quarter of this year is 52.7%, which is 1.4 percentage points higher than the third quarter. It exceeds the consensus expectation of the Bloomberg market, even if this is 1.3 percentage points lower than the fourth quarter of 2020 The fourth quarter of this year is 41.7%, and it has risen by 0.5 percentage points in the third quarter, and the fourth quarter is 1.8 percentage points from the fourth quarter of 2020.

How can TSME continue to maintain high growth on the basis of this is already a large substitute? The answer is not only the current short-core environment. The market's demand for chips continues to soar, and it is more important to the leading advantage in its advanced process.

With the maturity and upgrading of TSMC 5nm technology, market customers have increased the acceptance of 5nm process products, and the contribution of the 2021 year, the total annual income of the wafer accounts for more than twice as compared to 2020, becoming Taixing Electric The second major revenue source and gradually approached 31% of the 7nm process technology contribution. In general, TSMO advanced technologies (7nm and below) have occupied the half-Wanjiang Mountain (50%) of the total annihilation of the wafer, above 41% of 2020. This trend is likely to continue to expand.

According to the platform, the main income source of TSMC is still from smartphones. The revenue accounts for 44%, followed by HPC (High Performance Computing, High Performance Computer), accounts for 37%, Internet, Cars and DCE ( Data Communication Equipment, data communication equipment, accounts for 8%, 4%, 4%, respectively. TSME revenue from smartphones, HPC, Internet of Things, cars, DCE and other companies income increased by 8%, 34%, 21%, 51%, 2%, and 9% respectively from 2020, respectively.

In 2021, North America is still the maximum source of revenue from Taixia.com, from North American customers accounts for 65% of total net income, which is 3% higher than 2020, which can be seen from the big customer Apple's new mobile phone iPhone13 on it. The pull is pulled.

The income from the Asia-Pacific region, China, EMEA (Europe, Middle East and Africa) and Japan accounts for 14%, 10%, 6% and 5% of total net income, respectively, is worthy of concern from mainland China's revenue to continue Decline, from 17% in 2020 to 10% of 2021, which can also see some orders in the past Huawei from the side.

Continue to burn the money to build a factory

People also hope to find a clue that predicts the tide trend from Typical electricity. The most indicator, nature is the construction plant plan and capital expenditure of TSMC.

At this time, there is a capital expenditure of investors to ask Taiwan's power to go to the top in 2022? What is the next few years? TSMC CEO Wei Zhejia said: "In 2022, our capital budget is expected to be between 400 and $ 44 billion. 70% to 80% of capital expenditures in 2022 will be used for advanced process technology, including 2 nm, 3 nm, 5 nm and 7 nm; 10 % Will be used in advanced packages, 10% -20% will be used in expertise. "

As early as the third quarter of last year, TSMC has said that the capital expenditure will increase by 25 billion US dollars to $ 30 billion, at the same time, 100 billion US dollars will be put into production manufacturing. From the news reported by Taiwan media, TSMC's series of construction plans also gradually be clear.

First, TSME preparation will be built in Taiwan in Taiwan at 2nm and 1 nm. On December 28, last year, TSMC was determined to build its advanced process (mainly 2NM) factory in the Zhongzhicai in Taiwan. It plans to start working in 2025 in 2025, with a total investment of 8,000-1 trillion NT $ 20,000. Terrier electricity in the maturity process is also fast horses whip. The latest news was November, TSMO plans to cooperate with Sony subsidiaries in Kumamoto County, Japan, and the construction mainly produce 22 nm and 28nm process chips, and its initial investment has reached $ 7 billion, and the foundry is expected to be put into production in 2021.

In addition, TSMO's 5nm advanced process chip factory in Arizona, USA, and the 28nm process capacity expanded from Nanjing and the negotiations negotiations with the German government. Overall, whether the advanced process is still a mature process, TSMP's new plant is still blooming everywhere, and its demand for future chips is still optimistic.

In terms of advanced process, Wei Zhejia emphasized: "We are welcoming the opportunities of semiconductor structural growth, 5G brings huge opportunities, high performance computing applications will promote substantial growth and huge demand for high energy calculations, this Advanced technology is required. "

However, in terms of maturity, the production technology of each chip has no gap. How can Tai Tong's competition for SMIC, Grofutide, and other mature process farms, etc. Can future production capacity for future production?

This Wei Zhejia said: "The TSMC maturation process is only 80% in the past capacity utilization, but now includes the demand for CMOS and PC. We don't need too worry about the company's competition. Industrial trends plus the company's technology, we have very confident in the future growth. "

Of course, in addition to TSM, Samsung, Intel, in addition to Tajimad, Samsung, and Intel, which need to be concerned about the Intel's IDM2.0 mode, which means that Intel must be entrusted to settle the power of Taiwan in the advanced process. The market, TSM and Intel's historical relationships are not simple. Recently, the founder of the recent Thai Power, the "shelling" of Intel's CEO Pat, and Intel's 3nm process. The outside world is guess.

On the same day, there were investors directly asked how to view Intel both the power of power, and they also planned to expand their capacity. Wei Zhejia said that "IDM factory is still high-quality customers in Taiwan, we have prepared to expand capital expenditures to meet the long-term needs of the IDM plant expansion committees." He emphasized the capacity expansion of Taiwan's power supply to expand its own capacity of customers (Intel) Considering, at the same time, TSME will fairly treat each type of customer, including IDM vendors, and will not overrect a single customer and a single product.

Simple summary - Apple also wants, I want to put the egg in a basket. Since the December of December last year, he has a rumor, and Intel will divide the apple's 3nm capacity of the apple. Although both are 3NM technology, but the factory, the production line will be confidential Open.

In the large environment of the flyback, whether it is computer chip manufacturer or mobile phone manufacturer, seizes Samsung, the limited advanced process of TSMC is important.

Wei Zhejia also said that the 3-nanometer process of TSMC was expected to be expected, and it was also intended to be output in the second half of this year. Of course, this also means that the iPhone 14 chip in the second half of this year may be 3 nm Technology.

Finally, TSMC has also done an outlook for 2022 performance: TSMC expects the entire semiconductor market to grow approximately 9%, and the growth of the foundry is expected to be close to 20%, and Time-consuming electricity will work in 2022 to win the work industry. Very high 20% growth.