I. Semiconductor chip industry
1. The ranking statistics of global semiconductor production capacity were released, and Samsung ranked first
Recently, IC Insights updated its report, ranking the world's semiconductor manufacturers on their installed capacity at the end of last year.
According to IC Insights, four of the top five semiconductor plants in the world in monthly installed capacity at the end of last year were memory manufacturers and one was a foundry.
Samsung Electronics led the world with 3.06 million 8-inch wafers per month at the end of last year, while TSMC was No. 2 with 2.719 million 8-inch wafers per month, but it is the semiconductor with the world's largest logic process capacity.
According to statistics, by the end of 2020, the top five plants with installed monthly capacity were Samsung Electronics, TSMC, Micron, SK Hynix, Kai Xia and Kioxia (WD). The total capacity of the top five plants accounted for 54% of the global total capacity, an increase of 1 percentage point compared with the end of 2019.
Compared with 2009, when the top 10 factories accounted for 54% of the world's total production capacity, the top five factories accounted for only 36% of the world's total production capacity, indicating a clear trend of Evergrande for those with large production capacity. At the end of last year, there was a significant gap between the number six and 10 semiconductor factories, with Intel producing 884,000 8-inch wafers per month, UMC producing 772,000 8-inch wafers per month, and GlobalFoundries, Texas Instruments and SMIC producing 88th and 10th respectively.
TSMC expanding advanced process capacity last year, 14 first phase expansion project, including south Fab zhongke Fab 15 the tenth stage, south Fab 18 first and second phase of the project and so on are all in the last year, this year's capital spending heavily promoted, has the largest world logic capacity and extreme ultraviolet (EUV) capacity largest semiconductor factory.
As for the world's top five pure-play foundries, which include TSMC, UMC, GMC, SMIC and SMC, they had a combined monthly installed capacity of 5.1 million 8-inch wafers at the end of last year, or 24 percent of total global capacity.
2. TSMC's board of directors approved the allocation of US $11.795 billion for further plant construction and expansion
TSMC, which leads the industry in chip manufacturing processes, has heavy orders and tight capacity, and is building more advanced plants and expanding capacity to meet strong demand.
At a recent meeting of TSMC's board of directors, they approved the allocation of funds to build plants and expand capacity, according to the company's website. The amount approved was $11.795 billion, down from the $15.1 billion approved in November. The funds will be used in five areas, namely, fab-building and fab-equipment system installation, advanced process equipment installation and upgrades, mature and dedicated process equipment installation and upgrades, advanced packaging equipment installation and upgrades, second-quarter R&D expenditures, and ongoing capital expenditures.
TSMC spent $15.1 billion on technology research and development and capacity upgrading in November last year, and is now investing an additional $11.8 billion. The main reason for TSMC's repeated heavy investment is thought to be the desire to generate more revenue by increasing the capacity of advanced process chips. TSMC's 5nm chips, which have only recently been in mass production, already account for nearly 10 percent of TSMC's revenue, according to the data. TSMC is able to command higher foundry prices by manufacturing advanced process chips compared to chips from other processes.
While TSMC's board has approved the disbursement of nearly $11.8bn, that is less than half of the capital expenditure they expect this year. In its fourth-quarter earnings report, released on January 14th, TSMC's management forecast capital spending of $25 billion to $28 billion this year.
TSMC's revenue hit a record high last year, reaching $45.505 billion. But capital expenditure also hit a new high of NT $507.24 billion, or about US $18.174 billion, an increase of NT $46.82 billion from NT $460.42 billion in 2019, or 10.2% year-on-year.
3. Xi 'an Yiswei Silicon Industrial Base Phase I and Phase II Project commenced
Recently, Xi 'an Yi Si Wei Silicon Industrial Base Phase I and Phase II project officially started. According to previous data, Xi 'an Yiswei Silicon Industry Base project, with a total investment of more than 10 billion yuan, is one of the only three large silicon wafer production projects in China that have passed the "window guidance" review of the National Development and Reform Commission and the Ministry of Industry and Information Technology.
The project was started in May 2018, and will be mass-produced in July 2020. By December 2020, it has a monthly production capacity of 50,000 pieces. Xi 'an Net reported at the end of 2020 that the first phase of the plant's second phase capacity will reach 300,000 pieces per month, after which the average annual sales will reach 4.5 billion yuan and the tax contribution will be about 700 million yuan. It is worth mentioning that Xi 'an High-tech Zone and Beijing YISWEI Technology Group Co., Ltd. also signed a strategic cooperation agreement on February 20. According to the agreement, Eastway Technology Group will invest in the construction of integrated circuit design and research institute project in Xi 'an High-tech Zone.
Xi 'an Gaoxin pointed out that Xi 'an High-tech Zone and Wiswei Technology Group will jointly promote the construction of Wiswei Integrated Circuit Design and Research Institute project, aiming to build the project into a design and development base for Wiswei and its ecological chain partners' integrated circuit chips, solutions and applications. In addition, Wiswei chip and solution business also plans to locate in Xi 'an High-tech Zone, and will be committed to building the northwest regional headquarters and its ecological chain partners, such as smart community, smart home and other artificial intelligence innovative application demonstration base.
Key projects in Xi 'an will focus on six major areas in 2021, according to a Xi 'an release. We carried forward the construction of 177 advanced manufacturing projects, with an annual planned investment of 75.127 billion yuan. It includes Samsung 12-inch flash memory chip, Longji photovoltaic cell, Yiswei Silicon Industrial Base, Xi 'an National Supercomputer Center and other innovative development projects led by the company.
4. SAIC fully enters the automotive chip industry
Shanghai automotive industry corporation subordinate company saic passenger car with smart chip industry "unicorn" horizon in the near future to finalize a comprehensive strategic cooperation agreement, through comprehensive strategic cooperation with the horizon, saic will with saic passenger vehicles as the carrier, its technological achievements in the field of intelligent snatched is changed with the horizon of smart chip, visual perception algorithm, data closed loop combination of technical ability, on the one hand, ease the shortage of chip production capacity brought about by the crisis, on the other hand also hope to be able to jointly create to the tesla FSD to domain controller and system scheme of the next generation of wisdom. According to public information, Horizon was founded in July 2015 by Kai Yu, an internationally renowned artificial intelligence/machine learning expert, Baidu Deep Learning Research Institute and founder of Baidu Autonomous Driving. Horizon is currently the only automotive intelligent chip enterprise that has been verified by the pre-assembly mass production in China. As early as 2017, SAIC started its cooperation with Horizon in the field of smart chips. In 2019, SAIC completed the B round of financing for Horizon, becoming the first domestic vehicle enterprise to invest in smart chips on a large scale. In 2020, SAIC also established the "Joint Laboratory of Artificial Intelligence between SAIC and Horizon" in collaboration with Horizontal, to carry out comprehensive and in-depth cooperation on intelligent network technology. The first intelligent electric model of Zhiji Automobile, a new automotive innovation company created by SAIC Ali and Zhangjiang Hi-Tech, will be launched this year, is equipped with Horizon Journey chip.
In addition to SAIC, Great Wall Motor announced on Feb. 8 that it had completed a strategic investment in Horizon. On February 9, Horizon announced that it had completed the C3 round of $350 million financing, among which, in addition to Great Wall Motor, there are also BYD, Yangtze River Automotive Electronics, Dongfeng Assets and other automotive industry chain related enterprises. In addition, SAIC-GM-Wuling also announced earlier that Wuling would set up a working group on localization of TDC chips to ensure that the production capacity of each project of the company would not be affected by suppliers. In addition, Geely's Ekatong has a car chip business, and BAIC New Energy's Jihu brand also uses Huawei chips. The industry believes that the above vehicle enterprises and industrial chain related companies strategic investment chip enterprises, and the current chip supply is related to demand. On the other hand, with the advent of the era of intelligent vehicles, the competitiveness of car companies in software is becoming more and more important. Kai Yu, CEO of Horizon, told reporters that OEMs' demand for AI chips is increasing, which has led to deeper cooperation between chip manufacturers and OEMs. OEMs want self-driving features to be on par with Tesla's, Mr Yu said. In addition, it should surpass Tesla in cockpit experience, which is also the path of intelligent driving in China, while foreign users currently pay less attention to driving experience.
Take SAIC passenger cars as an example. In December last year, the company released a new technology brand, R-Tech, which includes cutting-edge technologies such as intelligent driving, intelligent cockpit and three-electric technology, which SAIC believes is an important solution to future challenges.
5. The shortage of chips has spread to many industries and is hard to ease in the short term
At present, the main control chip, IPC SoC, memory chip, WIFI chip and other core components used by security camera manufacturers are out of stock. The main reason is that the semiconductor industry is out of stock due to the tight production capacity of core chip material wafer.
Today, the global "lack of core" situation continues, from the automotive field to the mobile phone, camera and other industries are affected by varying degrees. It is reported that the security camera is also facing the same problem, the main control chip, memory chip, WiFi chip, IPCSOC and other core components needed by the camera are currently facing the situation of out of stock.
In this regard, the chip manufacturers have adjusted the chip prices, in which the memory chip and the master chip, as the two types of chips with the most serious shortage in the market, have increased their prices by 20%-30% and 10%-15% respectively. In addition, other chips are about 30 to 40 percent price increases.
Due to the current chip a goods difficult to find, led to part of the chip factory supply system of small and medium-sized terminal security enterprises pressure doubled, some enterprises because of the chip can not get, or even has been in a semi-holiday state.
Concerns about the lack of chip capacity began in December 2020, when a shortage of chips caused Volkswagen to temporarily halt production.
Today, chip shortages are affecting the production of a wide range of hardware products, from cars, computers and servers to every charger and even Bluetooth headsets.
Due to the outbreak and prevalence of the new coronavirus, the household economy is rising day by day, and the sales of many digital products have increased significantly. The supply of fab-based power components, power management ICs, image sensors, fingerprint identification chips and display drive ICs has become tight. Therefore, it is difficult for the security lens chip based on the core material of wafer to continue to power the industry.
Industry analysts believe that the tight chip situation may continue to spread in 2021, it is difficult to get relief in the short term.
Second, the laser industry
1. Dier Laser plans to raise 840 million yuan for the layout of new display laser equipment
On the evening of February 21, Dier Laser issued a prospectus for the issuance of convertible corporate bonds to unspecified parties. Dier Laser plans to issue no more than 8.4 million convertible corporate bonds that can be converted into A-share shares of the company, with A face value of 100 yuan each, and is expected to raise no more than 840 million yuan.
Fundraising and related projects brief introduction
Dier Laser said that the raised funds will be used for high-efficiency solar cell laser printing technology application research and development projects (331 million yuan) and new display industry laser technology and equipment application research and development projects (260 million yuan), the remaining 249 million yuan will be used to supplement the working capital. The details are as follows:
High efficiency solar cell laser printing technology application research and development project, is a new type of non-contact laser printing technology, the paste from the flexible transparent material to the surface of the cell, and then form the grid line of the solar cell. If the project is successful, the equipment will be used to produce printed electrodes in the production process of high-efficiency solar cells, Dier said. The research and development project and the company's existing business are both in the production of high-efficiency solar cell precision laser processing business field, the main difference is that the products developed in this research and development are different from the existing business products in the production process of high-efficiency solar cells, which is an expansion of the company's existing products and business. The research and development of this project requires a large amount of capital investment of the company. If the research and development is successful and the equipment is mass-produced, the company will carry out marketing to the existing customers.
The research and development project of laser technology and equipment application in new display industry is a new application field of precision laser processing equipment actively developed by Dier Laser in addition to the existing photovoltaic industry. The main research and development and production equipment include laser repair and laser stripping equipment. Dier laser said that the new display industry laser technology and equipment and the company's existing photovoltaic industry products have no direct correlation, but from the laser process, both are mainly laser processing automation equipment. Because of its products in the size, material, process technology of different laser selection and configuration requirements are also different, but the design and production of traditional automation equipment have mutual reference, the display panel relatively requires equipment precision, detection requirements, higher degree of intelligence. So is also necessary for the project research and development company of large capital input, if developed and implement equipment production, the company will to the display panel industry (e.g., boe, huaxing photoelectric, etc.), the LED industry (such as three Ann photoelectric, starlight electric, leah, etc.), color TV industry and emerging display manufacturers (such as skyworth, konka, etc.) potential customers for marketing.
Project significance and impact analysis
Solar photovoltaic market is the main market of Dier laser. Under the trend of high efficiency and low cost of crystalline silicon solar cells at present, the electrode grid line of crystalline silicon cells is developing towards the direction of ultra-fine, compact, large aspect ratio and less silver paste. The emperor's laser on research and development is a new kind of laser printing technology, grid line, formed by means of laser transfer printing using this technology in the production of high efficiency solar cell debris rate low, printing precision is high, and ensure the reliability of solar cell components, complied with the needs of the development of strategic emerging industries, the construction has the necessity.
In addition, with the development of wafer to wafer, large size direction, the new laser printing technology developed by this project can accelerate the reduction of solar cell production costs, promote the wider application of photovoltaic power generation in various production fields of the national economy, and lay a solid foundation for the arrival of photovoltaic "affordable era". Therefore, the construction of this project is needed to improve the quality and efficiency of solar cell production and boost the large-scale application of photovoltaic power generation. For dier laser company itself, the development of laser printing technology research and development projects will further increase the company's core competitiveness, expand the company's product technology application space, and consolidate the position in the industry.
The new display industry is a new growth point clearly proposed in the national "13th Five-Year Plan", which has an important strategic position. But as a new field, new display is faced with many problems in the process of realizing localization of production, from material, components, circuit design, processing to the finished product, every process must ensure maximum product quality and yield, it depends on the auxiliary of laser processing technology, but because of foreign technical barriers, less involved in laser enterprises of new display industry chain in China, the application in the production of new type display laser equipment are heavily dependent on imports. Dier laser has long invested huge manpower and material resources in the field of laser processingThe investment in the new display industry laser technology and equipment application research and development project is to further promote the development of new display industry and other national strategic emerging industries, improve China's high-end equipment manufacturing capacity needs.
Dier Laser is located in Wuhan, Hubei Province, the central and western gathering area of new display industry. At present, the three major domestic panel manufacturers, BOE, Tianma Microelectronics and Huaxing Optoelectronics, have all set up factories here. Wuhan's new display industry is expected to grow into an industrial scale of hundreds of billions in the future. With the expansion of downstream production scale will greatly promote the increase of upstream equipment demand, the company can make full use of the local resources advantage, through the implementation of the project, strengthen the technical and business cooperation with the panel manufacturers in Han, so as to step into the new blue ocean of new display, expand the market share, cultivate a new economic growth point of the enterprise.
The laser processing industry in which Dier laser is located belongs to the technology intensive industry. Announcement said that although the company development of photovoltaic cell technology adopted by the laser processing equipment has the domestic leading level, some are filled the domestic blank, but the products with high technology update quickly, the characteristics of the product life cycle is short, so need enterprises follow the laser processing industry development trend both at home and abroad, constantly. From the current market situation, the localization of new display laser equipment has been the general trend, the domestic related laser equipment manufacturers have been involved in the new display field. According to its market potential value, the company vigorously promotes the new display industry laser technology and equipment application research and development. After the implementation of the project, it will help the enterprise quickly master the core technology applicable to the new display field, develop the laser equipment with independent intellectual property rights as soon as possible, seize the commanding heights of the industry in the fierce market competition, and fundamentally improve the core competitiveness of the company.
2.II-VI joins the battle: Coherent for $6.5 billion
Coherent's acquisition of Coherent follows Lumentum's announcement of its acquisition of Coherent on January 19 and MKS's new offer to acquire Coherent on February 8.
On the morning of February 12, II-VI Inc. (NYSE: II-VI) made a cash and stock offer to acquire Coherent for $260.00 per share (worth approximately $6.5 billion). Under the terms of the II-VI proposal, Coherent shareholders will receive $130.00 per share in cash and 1.3055 II-VI common stock. Notably, II-VI is currently Coherent's largest company by market capitalization in the acquisition battle.
Walter R. Bashaw II, president of II-VI, said in the open letter, "Combining with Coherent will enable II-VI to be a unique strategic global leader not only in optical solutions and compound semiconductors, but also in our future laser technologies and systems. We will have significant and diversified opportunities to accelerate our growth through complementary technology platforms, enhance our competitiveness by leveraging our combined scale across the value chain, demonstrate deeper market intelligence and expertise, and further diversify our business and revenue streams. We believe that the transaction between II-VI and Coherent will bring significant benefits to the Company and our respective stakeholders, including you."
In fact, Coherent works closely with the II‐VI Goi Group. In December 2020, the two parties just signed a supply agreement to provide more efficient process development and streamlined production services for welding applications in the automotive industry. The project will cover welding of high strength steel for automotive body-in-white applications and substantial copper welding for electric drive systems. High meaning group, advanced laser head and coherence of the company's patent adjustable ring spot model (ARM) fiber laser technology the perfect combination of power can be mixed real-time beam alignment, in the processing area of large area, also can provide quality and efficient and excellent welding effect, effectively promote the user's production efficiency and reduce the production cost.
While the II-VI proposal appears to be superior to Lumentum's pending deal or MKS's proposal, Coherent has yet to make a firm statement. Coherent could pay a $217.6 million breakup fee if it rejects Lumentum's offer, as Coherent has agreed to acquire Lumentum, sources said.
Walter R. Bashaw II said, "We believe II-VI and Coherent are an ideal combination that will help us navigate the big trends for decades to come, which is why we have made what we believe is an attractive offer to purchase Coherent. In the next steps, we anticipate that Coherent will review our offer and discuss it with us, and we hope that these conversations will culminate in a transaction agreement."
3. Osram's new generation of LIDAR infrared lasers will soon be available, opening a new "horizon" for autonomous driving
On February 3, 2021, OSRAM Shanghai announced that its new generation of LIDAR infrared lasers will soon be available. The special design of this chip can improve the wavelength stability of the edge emitter to a new height, thus greatly improving the clarity and sharpness of environmental images.
Short for Light Detection and Ranging, LIDAR is a technique that uses infrared Light to create precise, three-dimensional maps of your environment. LiDAR, a key technology driving the development of the autonomous vehicle industry, combined with radar and camera systems, acts as a visual sense for the vehicle to obtain information about its surroundings. The higher the quality of the visual information acquired by the detection system, the easier it will be for the back-end system to process the visual information. Infrared lasers used in LIDAR are still biased in terms of wavelength stability at the current state of the art, and the wavelength deviation can be up to 40 nanometers as the operating temperature increases, resulting in a blurred "vision" of the LIDAR system. Osram's new chip design reduces the wavelength deviation to as low as 10 nanometres, which greatly improves the clarity and sharpness of environmental images.
In automotive applications, the edge-emitting lasers match or even exceed the wavelength stability of VCSELs, even at operating temperatures up to 125°C, thanks to the latest chip design developed by Osram. This not only marks a new stage in the development of infrared laser technology, but also means that the use of a smaller filter on the detector has become possible, thus greatly improving the signal-to-noise ratio. In addition, its technological advancements have been tested and demonstrated with "three-junction" structural elements, such as three luminous surfaces stacked on top of each other. In the future, this technology will be applied to all of Osram's infrared lasers, which will be a huge advantage for LIDAR system manufacturers.
4. Cellino, an American medical company, has raised $16 million in seed funding
Cellino, a personalized regenerative medicine company, recently announced it has raised $16 million in seed funding. The funding, co-led by The Engine and Khosla Ventures, with investment from Humboldt Foundation and 8VC, will be used to advance The transformation of its AI-guided laser platform to automate and scale autologous cell and tissue therapies.
Cellino, an autologous regenerative medicine company, has developed an AI-guided single-cell laser editing platform for cell therapy. The company has developed a scalable platform to automate and standardize autologous stem cell production, accelerating the development of life-saving drugs for patients. Cellino is based in Cambridge, Massachusetts. Cellino won the Startup Challenge at the SPIE Photonics West 2017 with his submission on photonic gene therapy.
The Engine is a venture capital firm spun out of The Massachusetts Institute of Technology. Providing long-term funding, knowledge, connectivity, and the specialized equipment and laboratories they require for many breakthrough technologies fills the gap between research achievement and commercialization.
The new funding will be used to automate and scale the transformation of Cellino's AI-based personalized tissue and cell platform. Cellino is developing an automated process for large-scale generation of autologous induced pluripotent stem cells (IPSCs). The proprietary platform merges breakthrough technologies across optics, biology, and machine learning to design highly functional cells with unmatched consistency and yield.
Cellino's platform automates stem cell production using image-guided machine learning, single-cell laser processing, and robotics. By standardizingmanufacturing in a closed format, Cellino creates an opportunity to seamlessly scale from preclinical process development to commercial-scale autologous IPSC-based therapeutics manufacturing.
Dr. Nabiha Saklayen, CEO and co-founder of Cellino, said: "This seed funding round enables us to build a democratic future for autosonic cells and tissues. I am delighted to lead a team that brings together diverse backgrounds across laser physics, stem cell biology, and machine learning in pursuit of our common mission to increase patient access to customized regenerative therapies. "
"Stem cell-derived therapies have The potential to be regenerative and therapeutic therapies for many diseases, and Cellino's transformational approach will dramatically improve quality and scale," said Ann DeWitt, Ph.D., Partner at The Engine. The company's leadership team has the experience and vision to achieve this goal. "
"Companies that disrupt entire industries and processes don't usually come from a single discipline," says Alex Morgan, MD, a partner at Khosla Ventures. By using single-cell laser processing and AI-guided automation to design cells on a large scale, Cellino is ready to lead the next generation of personalized regenerative medicine. "
3. New energy industry
1. A total of 26 IPO companies in the field of lithium electricity have been held or listed since 2019
Since the opening of science and technology innovation board in July 2019, the IPO track of domestic lithium industry chain is slightly crowded. According to the incomplete statistics of Gaogong Lithium, since 2019, more than 40 Lithium enterprises have rushed to the Science and Technology Innovation Board and the Growth Enterprise Board for IPO. Among them, a total of 26 companies have successfully been listed and listed, accounting for more than half, which indicates that there are more high-quality lithium battery enterprises.
In addition, there are a considerable number of lithium enterprises are in the listing guidance period or application materials stage, is expected to be in the year or next year to officially launch the IPO.
After sorting out the situation of these IPO enterprises, they mainly have the following characteristics:
First, each subdivision of the top enterprises centralized declaration
From the perspective of the listed enterprises, the top enterprises in the subdivision of the lithium industry chain are basically listed. And in a new round of sprint IPO lithium electricity enterprises camp, this phenomenon is more obvious.
At present, including the ningde hin high-tech era, byd, countries, weft lithium can, the guide: laser, when science and technology, intelligence, shanshan material, new energy, bei terry, bliss main bond, star source material in lithium-ion batteries, such as equipment and four big head enterprise in the field of materials, have been on the market for many years, the market share and market value.
In the new round of IPO wave from 2019 to 2020, there are also a number of lithium enterprises with strong competitiveness in various segments.
Such as electric two-wheelers lithium battery enterprises star constant power supply, lithium electric energy storage can science and technology, the TWS headphones purple built electronic, the anode material lithium battery enterprise Germany nanometer lithium/long/let the science and technology, the ternary precursor enterprises wei co, anode materials in xiang forword, carbon nanotube day nai, boehmite materials science and technology enterprise Shi Tong, equipment companies sea star/the yuan heng, etc.
The above-mentioned enterprises all have strong market competitiveness in their respective fields, some of them have become the leading enterprises in this field, and their market share continues to grow. After the listing, the above enterprises are expected to use the power of capital to help enterprises further develop and grow.
II. Material/equipment enterprises with the largest single fundraising Lithium battery enterprises
According to incomplete statistics of high-tech lithium, among the 32 lithium companies on the way to IPO on the science and technology innovation board and the growth enterprise board, there are 27 companies of lithium materials and equipment, accounting for 94%; At the same time there are a large number of material enterprises and equipment enterprises are in the guidance period.
However, from the perspective of the fundraising scale of IPO enterprises, the single fundraising amount of lithium battery enterprises is the largest, which is mainly used to expand the battery capacity.
For example, Foneng Technology raised 3.44 billion yuan to build the "annual production of 8GWh lithium ion power battery project (Foneng Zhenjiang Phase III Project)", etc. Tianneng raised 3.59 billion yuan for the construction of high-energy lithium battery cell and PACK project; PineTech raised 2 billion yuan to build the lithium ion battery and system production base project, 2GWH lithium battery efficient energy storage production project, etc.
At present, under the pressure of declining subsidies and intensifying market competition, enterprises in the lithium battery industry chain are generally faced with problems such as profit pressure, high receivables and cash flow.
From this perspective, materials, equipment, batteries and other industrial chain enterprises rushed to IPO, is also based on the urgent need for self-help.
3. Growth Enterprise Board, the most popular science and innovation board, is heating up gradually
Since its opening in July 2019, the science and innovation board has opened a new financing channel for many enterprises in the lithium battery industry chain with the science and innovation label with relatively loose listing conditions.
At present, there are nearly 30 lithium battery enterprises on the way to IPO on the Science and Technology Innovation Board, 7 of which have passed the IPO, and more than 10 of which have been successfully listed. The pass rate is obviously higher than that of other sectors.
At the same time, there are a number of enterprises announced that they will sprint to the science and technology innovation board. The team of IPO enterprises on the science and technology innovation board continues to expand, becoming the main track for the current IPO of lithium enterprises.
It is worth noting that the GEM pilot has also provided a more favorable financing environment for a number of lithium enterprises with "sustainable operation capacity", and is currently attracting some high-quality lithium enterprises to skip the science and technology innovation board to join the GEM.
IV. The number of IPO stalled projects increases
Although more and more lithium companies are rushing to IPO, there are not a few that have failed on their way to IPO. Encounter the Shanghai Stock Exchange many inquiries is one after another, the enterprise initiative to suspend/terminate and be denied the project increased.
In summary, the reasons for the common failure of enterprises in IPO are as follows: high level of asset-liability ratio, high customer concentration, related transactions, lack of independence, doubtful profitability, worrying raising projects, unstandardized operation and so on.
At present, a number of enterprises have taken the initiative to suspend the IPO process, and some enterprises have stopped or been denied after another sprint IPO, or will have a negative impact on the IPO plan of the above enterprises.
In general, the acceleration of IPO of lithium enterprises has become the development trend of the industry, and the top enterprises in the subdivision field are expected to run out of the acceleration and land in the capital market first.
However, with the intensification of market competition, the IPO process of lithium enterprises in the later stage may be full of more challenges, which requires lithium enterprises to further enhance their core competitiveness.
2. In 2020, China shipped 124,000 tons of lithium iron phosphate cathode materials, up 41% year on year
In 2020, China's shipments of lithium iron phosphate cathode materials increased significantly, with 124,000 tons shipped, a year-on-year increase of 41%, with a market size of about 4.5 billion yuan.
China Shipments of Lithium Iron Phosphate Materials (10,000 tons) 2018-2020
Output Value of China's Lithium Iron Phosphate Material (10,000 tons) 2018-2020
The main reasons for the growth of the lithium iron phosphate battery market are:
1) In 2020, the market share of China's iron-lithium-powered batteries will increase by 8 percentage points year on year, mainly driven by the sales of BYD Han, iron-lithium-powered Model 3 and Hongguang MINI EV;
2) The energy storage market grew faster than expected. Drived by the accelerated construction of 5G base stations and the growth of domestic storage markets abroad, the energy storage lithium battery shipments in 2020 increased by over 50% year on year;
3) The market of small power (including shared motorcycles and power changing cabinets) is driven by both export and domestic demand. The shipment of lithium batteries has increased by more than 80% year on year, and the proportion of lithium iron phosphate batteries in the domestic small power market is expected to be close to 30%.
4) In addition, the shipments of low-speed vehicles, electric forklifts, heavy trucks, construction machinery and ships will all increase in 2020 compared with the same period last year. The above reasons drive the shipment of lithium iron batteries to increase, and then drive the shipment of lithium iron phosphate materials to increase.
From the price trend of lithium iron phosphate material, the overall price of lithium iron phosphate material in 2020 shows a downward trend, the reasons are as follows:
1) Lithium carbonate market has a large inventory in the first half of the year, and the terminal market's demand for upstream raw materials is less than expected, leading to periodic oversupply in the lithium carbonate market, which drives its price down;
2) The demand in the terminal market is insufficient in the first half of the year. In order to obtain orders, the enterprise adopts the strategy of selling at a low price to lower the price of iron and lithium materials;
3) Lithium-iron battery application terminals are cost sensitive and transmitted to the upstream, resulting in the difficulty of price increase of Lithium-iron materials;
4) In the fourth quarter, due to the tight supply and demand changes in the industry and the rising price of raw materials, the price of iron-lithium materials rose again, but the range was limited.
From the perspective of market competition pattern, the concentration of the top enterprises in the iron-lithium material market will decrease in 2020, and a number of enterprises in the second and third tier will start to increase their market share. This is mainly due to the rapid rise of the downstream application market such as small power and energy storage, which leads to the rapid growth of the shipments of the second and third-tier enterprises that do not traditionally rely on the large power market due to the demand of other market segments. In addition, as the growth rate of new energy vehicles in the big power market is not as fast as that of small power, energy storage and other application fields, the market share of top enterprises dominated by the big power market declines.
The market for lithium iron phosphate materials in 2021 is expected to have the following characteristics:
1) Drived by the short supply of upstream raw materials and the strong demand in the end market, the price of lithium iron phosphate material is expected to increase by 2%-10%;
2) The core iron lithium material plant will increase the iron source production for its own industrial chain integration and cost reduction, and the iron source production process is expected to usher in a new round of changes;
3) The domestic shipment of lithium iron phosphate batteries is expected to exceed 90GWh in 2021;
4) Capacity utilization rate of enterprises at the top will remain high;
5) The production of lithium iron phosphate materials will be more with the characteristics of "bulk chemicals", the technical threshold of lithium iron materials in the lithium iron battery market will be lowered, the market scale will be expanded, the application scenarios will be more abundant, the product models will be gradually unified, and the productivity and production scale of enterprises will be further improved;
6) channel construction demand, platform and brand will become enterprise complement: storage, small power, shipbuilding and other fields has obvious regional features, provide such batteries also has a low concentration of enterprise, enterprise quantity is big fluctuations, purchase channels is not sound, the lithium iron phosphate material enterprises how to implement the platform sales, creating word-of-mouth effect will become an important task of the sales and marketing;
7) It is expected to be the first choice to build factories in different places, close to big customers, near raw materials and low energy consumption areas.
Top 10 Forecasts for Light Vehicle Electric Changing in 2021
1. From the perspective of technical route, an industrial pattern with lithium iron phosphate battery as the main industry and lithium titanate battery as the auxiliary industry will be formed
Lithium-iron phosphate batteries have high safety, long cycle life and relatively low price, making them the best choice for light vehicle batteries, which have been fully proven in the market in 2020. It is suitable for the vast area of normal temperature in China, but its low temperature performance needs to be further improved. Lithium titanate battery is produced for low temperature, suitable for the three northeast provinces, Inner Mongolia, northwest provinces and part of Beijing, Tianjin and Hebei low temperature areas, but its disadvantage is that the current price is relatively high, the need for rapid scale to effectively reduce the cost.
2. From the perspective of operation area, the economically active area will be the main battlefield for the development of electricity changing business
These regions are mainly Beijing, Pearl River Delta, Yangtze River Delta, the two lakes and Chengdu-Chongqing regions. Their common features are developed economy, high activity, fast pace of work and life, fine social division of labor, and good climate. They are the regions where the single volume of takeout is concentrated. According to the latest (November 2020) order volume in cities, Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Hangzhou, Wuhan, Suzhou, Dongguan and Changsha rank the top 10.
3. From the perspective of operation mode, the electric replacement of light vehicles will expand from take-out and express delivery men to high-end users of shared electric bikes and some families
Takeaway and express delivery guys are the first seed customers of electricity exchange business. They take electricity exchange as a means and tool to make a living, which is the firm demand of electricity exchange. However, as the users of electricity changing reach the ceiling in some cities, the rapidly developing shared electric bikes and some high-end family customers will become the second batch of seed users of electricity changing business. From the current market situation, shared motorcycles have already had the conditions of separating vehicle and electricity and switching electricity for operation.
4. From the perspective of product form, the focus of power changing needs to be improved will shift from hardware to software
In 2019 and 2020, electric replacement products of light vehicles are mainly carried out from the hardware dimension of the product
Improvements, such as increased cycle times, waterproof and drop proof, cable plug, handle door lock, etc., will no longer be the main contradiction of the product in 2021 with the joint efforts of all power changing operators and manufacturers.
The direction of product improvement will focus on software, such as BMS (battery management system), cabinet control system, platform system algorithm and collaboration among the three, and the direction of software optimization is to think about how to improve user experience and user satisfaction from the user's perspective.
5. From a supplier perspective, "winner-takes-all" and focus will unify the battery changing landscape
The operating environment of lithium-ion batteries in light vehicles is far worse than that of electric vehicles, which puts forward higher requirements for the production quality of lithium-ion batteries in light vehicles. In the market at present widely used lithium iron phosphate batteries, for example, there are more suppliers, manufacturer level irregular and so on many questions, but with the development of light vehicle in electricity market, car power battery manufacturer, byd has incoming ningde era, and I will be a lot of great energy and comprehensive shipments to light vehicle lithium battery production, the first two is the "winner-take-all", the latter is the extreme focus, let's wait and see.
6. From the perspective of industrial ecology, it will transform from a simple "electricity change" to an industrial ecology centered on "automobile and electricity integration"
Battery is my derivative demand based on the vehicle, the vehicle is my first need and entry point. At the same time, only when the battery is connected with the vehicle, such as the interface between the battery and the battery compartment of the vehicle, and the interconnection between the battery BMS and the central control system of the vehicle, can the adaptability of the vehicle and the battery be fundamentally improved, thus improving the user experience. This trend has been very obvious from the press conference of operators such as E for electricity and Easy to ride for electricity in the early stage.
7. The "great product, great experience, great service" model will win out in terms of how it works
At present, there are three main models in the electricity changing market:
The first is "destocking", that is, battery manufacturers have to engage in the electricity changing business in order to solve the problem of battery sales. This mode lacks long-term consideration, and the offline operation and service quality cannot be guaranteed. At the same time, it is also a big question mark whether the follow-up funds can keep up with it.
The second is "capital realization", which is a typical Internet play, large-scale investment in the early stage, shop network, circle users, do cash flow, but in the current high competition in the electricity market, this fast operation, make fast money model no longer exists.
The third is to make products in a down-to-earth manner, really serving users, which is what electricity exchange business should look like. It will be accepted by the market and capital, and truly embark on a road of healthy and sustainable development. "Although it is hard to wash thousands of tons of water, blowing up the crazy sand until gold" will be the final annotation of this model.
8. From the perspective of the integration of industry and Internet, electricity changing is not "Internet + industry" but "industry + Internet".
At present, the electricity exchange network has become the "new infrastructure" of modern urban life, is a livelihood project of serving takeout and express delivery, is a typical practice of the transformation of the instant distribution industry in the field of "new infrastructure" to digitalization, networking and intelligence, and is a typical application of mobile Internet on the infrastructure. It is an asset-heavy, operations-heavy, customer-experience business, and users vote with their feet when they are not satisfied.
9. From the perspective of market competition, light vehicle electric replacement operators will form a situation of "one super and many strong"
"Shearing section.at" refers to the Eiffel Tower energy, it as a wholly owned subsidiary of China state tower, can be said to be born with a silver, nearly two years in the electricity business dry are flawed, dozen good products, quick decision, prospective, currently has more than 200 cities nationwide, the network size and scale of paying customers are the first in the nation, has a commanding lead.
"Duoqiang" refers to E power changing, easy riding power changing, hello power changing, etc. These power changing enterprises also have their own unique advantages in some cities or local areas.
10. From the perspective of market influence, electricity changing mode will accelerate the integration of industrial ecology
First of all, with the introduction of the new national standard and the popularization of electricity changing mode, the process of "lead to lithium" will be further accelerated. Lithium-ion batteries accounted for only 15% of China's e-bikes in 2020 and are expected to rise to more than 30% by 2021.
Secondly, the power-changing mode will make the "vehicle-electric separation" of two-wheeled electric vehicles become the norm, and the in-depth cooperation between power-changing operators and electric bicycle manufacturers will become the norm. Finally, as a typical sharing economy, electricity changing mode will further promote the continuous emergence of new economic models such as shared kitchen.
4. The heat of silicon material is rising again, and the trend of price increase and quantity lock continues
According to the price tracking of silicon materials by EnergyTrend, by the end of January, first-line enterprises have finalized silicon materials orders for February, including some orders for March, which have been negotiated. Single crystal materials, the overall market average price rose to 92 yuan/kg, the mainstream price increased to 89-94 yuan/kg, part of the second and third line enterprises orders are still under negotiation, the price is relatively chaotic, fluctuating between 86-90 yuan/kg. In terms of polycrystalline materials, the demand for silicon materials has no obvious fluctuation, and the price is stable temporarily. The average price is stable at 57 yuan/kg, while the mainstream price is 54-60 yuan/kg. Global silicon prices have been affected by the recent increase in the price of single crystal materials, the average price has increased to $11.567 / kg.
Observed link of silicon material production and shipments, silicon material into the whole as expected the market supply is tight balance stage, the main reason is that February domestic silicon material production enterprise basic has signed, basic clearing inventory, some enterprises in order to arrange to march, a second - and third-tier firms based on short-term market prices continue upward, sign back in and downstream in the game. On the other hand, at present, there are 10 domestic polysilicon enterprises in normal production, and the output of enterprises that resume production after maintenance is still climbing, which promotes the overall silicon supply in February is expected to continue to increase. On the whole, the Spring Festival holiday is approaching. Influences of multiple factors such as epidemic control in various places and logistics shutdown, etc., silicon material freight has further increased. In addition, downstream silicon wafer production capacity has been successively landed, which is expected to increase the stock preparation after the Spring Festival, thus driving the silicon material price to continue to rise this round.
After 19 years of silicon material production release cycle, silicon material capacity increment is limited, in 2020 in China and overseas OCI has shut down South Korea two polysilicon plant (total capacity from 79000 tons to 32000 tons), silicon material in the domestic production capacity in 2020 from 2019 in 456000 tons to 484000 tons, a small global silicon material in the production capacity is reduced from 2019 at the end of 622000 tons, 19000 tons to 603000 tons. In 2021, most of the new production capacity in China will focus on Q4, so its contribution to the annual actual production capacity will be limited. It is estimated that the global silicon supply in 2021 will be about 550,000 tons, which can meet the silicon wafer production demand of about 170GW.
Downstream wafers, meanwhile, embarked on a massive expansion in 2019 on the back of high margin retention. In 2019, when the price of the upstream link drops, the silicon wafer price is still strong. Compared with other supply chain links, the monocrystal silicon wafer link still has a higher profit space. Therefore, all silicon wafer enterprises have started a more aggressive expansion plan. Looking forward to 2021, the leading silicon wafer and the second and third line silicon wafer enterprises still maintain a large scale of capacity expansion rhythm, the end of 2021 monocrystal silicon wafer nominal capacity is expected to hit a new high to break through 300GW. Under the background of the limited actual contribution of silicon material in 2021 and the substantial expansion of silicon wafer capacity, wafer manufacturers began to lock up silicon material supply through the silicon material supplier signed with upstream silicon material enterprises in 2020Q3, so as to meet their production needs. According to our statistics, in 2021, more than 80% of the silicon material capacity has been locked by long collaboration. Among the mainstream silicon material manufacturers, only part of GCL-Poly's silicon material capacity has not been signed by long collaboration.
Under the background of the boom of silicon material rising, some investors are concerned about technical updates iteration silicon technology (particles) will give silicon material in the production of leading the company's future development prospect of uncertainty, but we believe that the current silicon material link form tension between supply and demand in 2021 is the main contradiction of (supply) and the evolution silicon material supply shortage, it will also promote the silicon material prices remain high, even at a certain time or special factors under catalytic high above 100 yuan/kg, so as to guarantee the silicon material leading enterprises (tong wei, new energy, east hope, new energy, etc.) in 2021, growth and profitability to maintain; Technology update iteration is the current point of the secondary contradictions, FBR particles silicon technology really expected to become the next generation of pv silicon material, but the current capacity of silicon particles and the downstream use proportion is still relatively low, need to continue to focus on poly (xin particles at the end of June 2021 silicon increases production capacity to 30000 tons after improving the quality of the particles of silicon, silicon downstream manufacturers application, and reduce the cost.
Four, the composite material industry
1. Composites manufacturer Exel Composites launches patented 5G composite radar radome design
Composites manufacturer Exel Composites has recently been awarded a European patent for a communications radar radome design that covers antenna systems and radar equipment and features a closed-cell thermoplastic foam composite in the radome structure. Excel Composites said the composite radome could effectively address the challenge of signal attenuation and improve broadband speeds.
"The challenges of making a suitable radome include striking a balance between signal attenuation and the mechanical structure of the material." Juha Pesonen, head of telecommunications at Exel Composites, said, "Foams are used in the design because of their low density and high rigidity properties, which support the easy transmission of radio waves. Combined with the mechanical strength of the fiberglass skin, we have created a hard and durable material that protects the antenna from the effects of the service environment."
After four years of research and development, the radome patent has special significance. Kim Sjodahl, Senior Vice President of Technology Research and Development at Exel Composites, said: "Instead of using the same density of material for fabrication, we can now customize the radome by embedding a specific core material to change the material density and wall thickness to create the window through which the radio waves in the top band can pass. The combination of fibers, resins and foams can also be customized to enhance the radar's specific performance (for example, higher mechanical strength or reduced signal attenuation in specific areas)."
The ultimate goal of the patented material design is to support the rapid development of the fifth generation network (5G) and help telecom companies overcome the challenges of signal attenuation and protecting antenna equipment. Exel Composites' patent is planned to be extended throughout North America and in China.
2. The world's longest glass fiber blade, Shanghai Electric S90, passed the full-size static load test at one time
On February 6, witnessed by China Quality Certification Center, the S90 offshore wind turbine blade independently developed by Shanghai Electric Wind Power Group Co., Ltd. passed the full-size static test at one time, breaking the domestic record of large blade test. The blade is 90 meters long, breaking the record as the world's longest fiberglass wind turbine blade.
S90 blade is a blade independently developed by Shanghai Electric for the middle and low wind speed area of China offshore. Its test indexes all meet the requirements of GL2010 and IEC61400-5 standard, which helps Shanghai Electric to add another wind turbine wind generator set to its offshore product line.
In order to better match with the unit and meet the requirements of the whole machine, Shanghai Electric blade design team not only carried out special research on load optimization, so as to achieve the optimal performance of the whole machine, but also bold innovation and careful demonstration in the process of blade design, using a series of new technologies.
Through the design of the system, the optimal balance between cost and efficiency is sought. The design with low roughness sensitivity ensures stable and reliable power generation; The self-developed embedded bolt sleeve technology is adopted, which can meet the harsh blade root load of S90 blade and ensure the safety performance of blade root connection.
For the first time, the glass fiber pultrusion board technology was adopted. Through sufficient technical preparation in the early stage, it was successfully applied on the S90 blade, effectively achieving the purpose of reducing weight and cost. Adopt the glass fiber cloth ring laying technology, not only can improve the production efficiency, ensure the production quality, but also the design is stronger, so that the blade design is more lightweight.It is reported that the listing application of Shanghai Electric Wind Power Technology and Innovation Board has been examined and approved by the listing committee of Shanghai Stock Exchange, and officially submitted the registration application to China Securities Regulatory Commission on January 15th, and is expected to be listed on the Science and Innovation Board of Shanghai Stock Exchange soon.
3. Glass fiber ushered in a rising price boom, ushered in a new round of recovery cycle
The global economic recovery certainty increases, the glass fiber comes in price upsurge. In the spot market, the price of glass fiber mainstream varieties has been on the rise since September, and increased by about 7% in early December. The industry inventory quickly dropped to a historical low, and the glass fiber ushered in a new round of recovery cycle.
As a commodity priced globally, glass fiber has a typical procyclical property. Under the condition of the continuation of loose monetary policies in the world's major economies, the boom of glass fiber will continue for a considerable time. Real estate, automobiles, wind power, 5G applications and other fields continue to pull up the boom will ensure the industry demand. However, the new capacity in 2019 and 2020 is small, and the new capacity in 2021 is limited and concentrated in the second half of the year. Fiberglass prices will continue.
(1) Strong downstream demand for glass fiber
Glass fiber is a kind of inorganic non-metallic material, with light weight, high strength, high temperature resistance, corrosion resistance, heat insulation, sound absorption, good electrical insulation performance and other properties, usually in the form of composite materials used in construction, electrical and electronic, automotive industry, aerospace, wind power and other industries. Among them, the demand for building materials, electronics, electricity and transportation is the strongest, accounting for 35%, 12% and 15%, respectively.
Glass fiber business cycle and macroeconomic cycle correlation is high, according to the global leading owens corning glass fiber and products, glass fiber industry demand growth is about 1.6 times of global industrial production growth, and the world of money also observed securities fiberglass leading enterprise revenue strong correlation with the world GDP growth and the movements of PPI and trend of domestic PPI and the CRB index of metal has consistency.
Continued boom growth in real estate, automobile, wind power, 5G application and other fields will ensure the demand of the industry:
As the U.S. housing market recovers, real estate development is expected to continue at a brisk pace amid strong sales and low inventory levels, which will drive demand for fiberglass in construction.
Application of composite materials in automobile lightweight promotion: With the tightening of automobile carbon emission standards in various countries, automobile weight reduction has become an important means for various automobile enterprises to meet the carbon emission standards. The new type of composite materials including glass fiber have high strength and light weight, which have wide application space in automobile field.
The wind power installed capacity in 2020 exceeds the expectation, and the wind power installed capacity in 2021 continues to drive the demand for glass fiber: by December 2020, the accumulative value of wind power installed capacity in China reached 71.67 million kw, a significant increase of 178.44% year-on-year. Because of its light weight and high strength, glass fiber has been widely used in the manufacture of wind turbine blades and engine room covers.
5G application will drive the growth of PCB demand, and electronic yarns will benefit: the construction of 5G era related base stations, the demand of downstream Internet of Things and the demand for replacement of consumer electronics will drive the growth of PCB demand. In addition, the intelligent driving of cars, especially the intelligence of electric vehicles, will also promote the growth of PCB demand in the automotive field. PCB board demand will drive the growth of high-end glass fiber electronic yarn demand.
(2) Limited new supply of glass fiber
China has become the world's largest producer of glass fiber. In 2019 and 2020, the new capacity of China's fiberglass industry was relatively restrained. According to statistics, new production capacity of 410,000 tons will be put into production in 2021, and most of them will be released in the second half of the year. In addition, entering a new round of cold repair cycle in 2021, the impact of net new capacity is relatively limited.
In the long run, the Glass Fiber Association issued the "Fourteenth Five-Year Plan for Glass Fiber", which clearly limits the excessive growth of glass fiber production capacity and controls the year-on-year growth rate of production no more than 3 percentage points higher than the annual GDP growth rate. In the case of controlled demand boom and supply, the glass fiber boom can be maintained.
4. Changzhou built "Oriental Carbon Valley" high-end carbon fiber composite material research and development center into operation
Changzhou Antai High-end Carbon Fiber CompositesR & D Center with a total investment of 1.5 billion yuan is a major project of Jiangsu Province in 2020, and all the projects will be completed in September 2021. At present, the first phase of the product has been put into production, mainly aviation grade carbon fiber composite structure parts. These high-performance carbon fiber aircraft fuselage structures are characterized by high strength, light weight and corrosion resistance. It is the second company with Airbus supplier qualification in China after Aviation Industry Corporation of China.
In addition, the project also built a Sino-German Joint Engineering Technology Center for Carbon Fiber Materials and a service laboratory for testing high-performance composites. At present, all the imported equipment for the engineering and technology center and laboratory here will be in place to prepare for the mass production of COMAC.
5. Carbon fiber technology helps develop the hydrogen energy industry
Carbon fiber technology has a wide application prospect in all walks of life, among which carbon fiber wound composite hydrogen storage cylinders are regarded as an important technology for hydrogen energy storage and transportation. The development of carbon fiber technology will help the hydrogen industry.
(1) Ten years of innovation, seeking breakthroughs
Shanghai petrochemical research and development of our facty large tow carbon fiber is a kind of carbon content in more than 90% of new fiber material, high strength mechanical performance is excellent, the proportion of less than a quarter of the steel, the strength is 7 to 9 times that of the steel, also has the property of corrosion resistance, referred to as the "king of the new material", also known as "black gold", can be widely used in aircraft parts, rail transport of raw materials, bodywork, etc., has a broad prospect of application in all walks of life.
All along, carbon fiber technology has a strict technical barriers, so far only Japan, the United States and a few developed countries have and master. This technological breakthrough will help China to get rid of the long-term dependence on imports of large tow carbon fibers, especially providing raw material guarantee for domestic enterprises in the application of large tow.
"12,000 tons/year 48K large fiber bundle carbon fiber" project includes 12,000 tons/year 48K large fiber bundle carbon fiber, 24,000 tons/year primary fiber, etc., with a total investment of 3.5 billion yuan, is a major industrial project of Shanghai, and it is planned to be completed in 2024. After the project is put into operation, it will change the situation of China's dependence on imports of large bundle carbon fiber and its long-term supply falling short of demand, vigorously promote the development of domestic carbon fiber industry and boost Chinese manufacturing.
(2) hydrogen storage application, green layout
With the breakthrough of carbon fiber technology in China, its application in the field of hydrogen storage and transportation will also get progress. At present, promoting the improvement of hydrogen storage and transportation technology and the reduction of storage and transportation costs is the key to the maturity of hydrogen energy industry. Among them, carbon fiber wound composite hydrogen storage cylinders are expected to be high. Wang Peilin, chief expert of Shanghai Petrochemical Co., Ltd., pointed out that the use of large bundles of carbon fiber for winding cylinders can increase the winding speed of cylinders, effectively improve production efficiency and reduce production costs.
According to Wang Peilin, Shanghai Petrochemical is independently developing the manufacturing technology of carbon fiber for winding gas cylinders, among which 35 MPa gas cylinders have passed the test, and will consider forming a certain scale of cylinder production capacity in the future. At the same time, the company actively layout carbon fiber in the field of hydrogen storage technology research and development, including type 3, type 4 bottle related technology development, have made a breakthrough.
The biggest advantage of big tow is not only the cost advantage itself, but also the use end greatly improves the processing efficiency. As for gas cylinders, the winding efficiency of large filament bundles is 3-4 times that of small filament bundles, which will greatly reduce the manufacturing cost of carbon fiber wound high-pressure gas cylinders, and is more conducive to the application of hydrogen energy storage and transportation. From the technical point of view, the 35 MPa hydrogen storage tank technology has been basically mature, is in the stage of expanding application, will soon be in the field of commercial vehicles to obtain large-scale application; In the future, the main application direction of 70 Mpa hydrogen storage tank is the passenger car market. The domestic technology is still in the breakthrough stage, and the application end is still in the trial stage.
In recent years, Sinopec has been accelerating its layout in the field of hydrogen energy, and has significant advantages in hydrogen production and hydrogen refueling stations. On January 7th, the Chinese petrochemical invited four new energy enterprise video conversations will hold the new energy industry development, put forward to promote integration of distributed energy demonstration project construction scenery hydrogen, in domestic related demonstration zone and industrial park to explore cooperation pilot green electricity hydrogen production and charging demonstrate the possibility of application scenarios, such as promoting the hydrogen high level demonstration.
As one of China's largest integrated petrochemical companies in refining and chemical industry, Shanghai Petrochemical is also speeding up the layout of hydrogen energy field. According to Wang, the company has rich hydrogen resources, with an annual output of about 230,000 tons, and has hydrogen pipe network interconnection with surrounding areas. In the future, Shanghai Petrochemical will take advantage of hydrogen resources and pipe network to become a new provider of hydrogen energy resources. At the same time, it will consider developing liquid hydrogen storage and solid hydrogen storage technology, explore the use of solar energy and wind energy to develop green hydrogen production, and develop and form a green industrial chain.
5. Satellite communications industry
1. SpaceX's valuation jumps to $74 billion, and Starlink's annual revenue could reach $30 billion
SpaceX closed an additional $850 million (5.5 billion yuan) in mega-equity funding last week that has pushed the company's valuation to around $74 billion (477.9 billion yuan), according to a person familiar with the financing.
The company raised new funds at a price of $419.99 (2712.5 yuan) per share. The latest fundraising also means the company's valuation has jumped by about 60% since last August.
In addition to SpaceX further building its Arsenal for its ambitious plans, company insiders and existing investors could sell an additional $750 million (4.84 billion yuan) in a secondary deal, one of the people said.
The latest cash flow comes as SpaceX continues to develop two capital-intensive projects simultaneously.
One of its ambitious projects is Starlink, which aims to build an Internet network of thousands of satellites, known in the aerospace industry as "constellations," to provide high-speed Internet to consumers anywhere on Earth.
SpaceX leaders had previously estimated that Starlink would cost more than $10 billion (64.58 billion yuan) to build, but also believed the network could bring in as much as $30 billion (193.75 billion yuan) in annual revenue, or more than 10 times the annual revenue of its existing rocket business.
SpaceX, which has launched more than 1,000 satellites for Starlink so far, has also begun rolling out early stages of the service to customers in the US, Canada and the UK in a public beta that it recently expanded to allow customers to pre-order Starlink for $99. Musk also reiterated last week that SpaceX plans to eventually spin off Starlink and take it public.
SpaceX's Starship Rocket represents another of its most ambitious projects. The company steadily builds and tests prototypes at its Boca Chica launch site in Texas. The company has successfully launched several prototype starships, landing safely after a brief flight to an altitude of about 500 feet. On its last two high-altitude flights, despite having passed several developmental milestones, it was hit by explosions while attempting to land.
Although the last two flights ended in explosions, SpaceX has seen the launch as an important step in rocket development. The next Starship prototype is already in place at the company's launch pad, and SpaceX is expected to conduct another test flight in the coming weeks.
2. Starlink plans to speed up to 10Gbps
SpaceX recently briefed the US Federal Communications Commission (FCC) on the status of Starlink, which already provides broadband Internet access to rural communities in the US, Canada, and the UK. The system currently provides users with download speeds of 100Mbps, with a long-term goal of upgrading to 10Gbps.
SpaceX is working to launch 120 satellites a month, according to the company's presentation to the FCC. Upcoming software updates are also expected to improve Starlink's throughput. Starlink is seeking FCC approval to lower the Starlink satellite to an operating altitude of 540 to 570 kilometers above Earth. According to SpaceX, the lower altitude will allow the satellite to operate more safely by improving "debris distribution."
If users want to try out Starlink, they can visit the company's website to sign up for the public beta. However, the invitation is still limited to users in certain parts of the northern United States. Starlink, which costs $99 a month plus $499 for a one-time device, plans to expand its Beta testing to the South early this year.
3. Review of some major developments in China's satellite applications in 2020
1. Communication satellites have entered the world's advanced ranks
On January 5, the Shijian-20 satellite was successfully appointed, marking the first flight of the public platform of the Dongfanghong-5 satellite, enabling China to develop 100 ~ 1000Gbit/s ultra-high-throughput communication satellite, which can meet China's demand for high-power communication satellites in the next 20 years. China has entered the ranks of the world's advanced satellite communication field.
On July 9, the asia-pacific 6 d satellite launch, the star for high-throughput Ku/Ka frequency communications satellites, the communication capacity of up to 50 gbit/s, is China's largest current communication capacity and power output, design a maximum degree of the people of the most complex commercial communication satellite, can meet the maritime communications, aircraft airborne communications, land vehicle emergency fixed satellite communications, broadband Internet access and other application requirements.
On November 12, the day 1 02 star successful launch, will work with 01 star and subsequent satellite network asia-pacific regional satellite mobile communication system, for China and its surrounding, the Middle East, Africa and other regions, and most of the Pacific Ocean, the Indian Ocean waters of users, to provide all-weather, all-day, stable and reliable in mobile communication services such as voice, short message and data.
2. A number of enterprises have deployed a constellation of low-orbit communications satellites
The low-orbit communication satellite constellation achieves global coverage, which can provide global users with low delay, high bandwidth, seamless global coverage, flexible and convenient Internet access services. A number of companies have proposed the construction of low-orbit communication satellite constellation, including Hongyan constellation and Hongyun project.
China successfully launched its first low-orbit broadband communications satellite in January, which is developed by a commercial space company and can provide broadband communications services to users through satellite terminals. Xingyun-2 01 and 02, the first satellites of China Aerospace Science and Industry Corporation's space-based Internet of Things constellation, were launched into space in May. Shanghai Auke & Micro Aerospace Science and Technology Co., Ltd. has built a low-orbit communication satellite constellation "Xiangyun" to provide space-based IoT services for industrial users. Geely Group has also started to layout satellite Internet in recent years, and signed strategic cooperation agreements with several companies including China Mobile in 2020 to jointly promote cooperation in low-orbit satellite communication, autonomous driving and other fields, and provide space information and communication infrastructure and application solutions for global customers. Beijing Guodian High-Tech Technology Co., Ltd. has built and operated the Internet of Things constellation "Tianqi", which has a number of operational satellites in orbit, serving the global Internet of Things data business.
3. The Tiantong satellite communications service was officially commercialized
On January 10, China Telecom officially provided communications services based on the Tiantong-1 satellite. Tiantong satellite service uses the mobile phone number of segment 1740 as its business number to realize the interconnection and interconnection with the communication networks of domestic and foreign communication operators. There are 25 terminals that have obtained the network access license from the Ministry of Industry and Information Technology, including various types such as handheld, vehicle-mounted, shipborne, Tantong, portable data and so on. Users can conduct voice, short message, data communication and location services in the satellite service area by using the Tiantong satellite mobile phone or terminal. Tiantong satellite mobile communication system is the first satellite mobile communication system independently constructed in China, which realizes the domestic research, development and production of satellites, chips, terminals and customs stations. The system has provided communication services for water conservancy, fire protection, forestry, geology, armed police, electric power, Marine fishery and other industries.
4. Many breakthroughs have been made in industrial application
In 2020, China's communications satellites will continue to deepen their applications in direct satellite broadcasting, emergency relief, aviation and oceanography, and play an important role in telemedicine, online education and office work to help fight the epidemic and resume work and production.
In terms of direct broadcasting satellite television, by the end of 2020, the total number of public service users of the direct broadcasting satellite project of "providing direct broadcasting satellite access to every village" and "providing direct broadcasting satellite access to every household" had exceeded 146 million, more than one third of the total number of radio and television users in China. Direct broadcasting satellite has become the main way for people in rural areas to receive radio and television, and has played an important role in promoting the equalization of basic public services of radio and television in urban and rural areas. During the epidemic, the project of direct broadcasting satellite to every household delivered real-time news and epidemic prevention and control policies to farmers in a timely manner. At the same time, the National Radio and Television Administration is actively promoting the simultaneous broadcasting of high-definition programs on direct broadcasting satellite platforms. The China Media Group has launched 14 high-definition co-broadcasting programs, and nine high-definition co-broadcasting programs from Dragon TV, Chongqing TV and Hunan TV.
In terms of online education and office work, China Education TV has opened Classroom in the Air channel to provide primary and secondary school curriculum teaching programs for "household access" and "village access" users across the country to ensure that students do not suspend classes during the epidemic. China satcom group co., LTD has developed a satellite enterprise private network that can support multi-location access to video conferencing and video surveillance, and established a fusion network through satellite communication to form a satellite video office platform solution and build a satellite video office platform.
In terms of telemedicine, a telemedicine consultation vehicle developed by Century Satellite Co., a subsidiary of China Aerospace Science and Industry Corporation, can establish a video link between the front medical scene and the rear medical experts or headquarters through satellite communication. The medical consultation vehicle is also connected to the medical information network, so that on-site medical personnel can instantly access relevant medical information resources and upload information through the satellite communication network. During the epidemic period, China satcom further enhanced the security of telemedicine business, emergency deployment of satellite backup resources, to provide reliable transmission guarantee for medical records and video and audio.
In terms of emergency response and disaster relief, when forest fires broke out in Muli County and Xichang City of Liangshan Prefecture in Sichuan Province in March, local telecom operators mobilized emergency support personnel, emergency communication vehicles, satellite phones and KA satellite portable stations to the scene, and opened satellite emergency base stations to provide communication support for the field headquarters. In June, Typhoon "Nui" landed on Hailing Island in Yangjiang City, Guangdong Province. China Satcom, together with Shenzhen Institute of Aerospace Science and Technology Innovation, provided several KA satellite portable stations and provided satellite broadband transmission links to ensure real-time transmission of high-definition videos at the landing site. After the mid to late June into sin, more mud-rock flows, landslides and other geological disasters occur, China satcom belongs to sino satellite communications co., LTD. Of sichuan aba Tibetan and qiang autonomous prefecture, yunnan province first country gongshan county, township and provide land mobile station, relying on zhongxing 16 satellite resources, establish broadband satellite communication link, to provide emergency communication support.
In the aspect of airborne communication, with the rapid development of civil aviation in China, the number of civil aircraft, route mileage and passenger number increase, the demand for aircraft Internet surges, which brings opportunities for airborne applications based on high-throughput satellite communication. On January 5, China's first civilian airliner to deploy on-board Internet successfully made a test flight. The test flight used Zhongxing 16, the country's first KA high-throughput satellite, as a means of communication. The bandwidth of each aircraft was up to 150Mbit/s. Qingdao Airlines flight QW9771, China's first high-speed satellite Internet plane, made its maiden flight on July 7. The flight was equipped with the high-speed interconnection system of Zhongxing 16 satellite, which can connect to the Internet at a high speed of more than 100 megabytes at an altitude of 10,000 meters.
In terms of shipboard communications, in January, Sino completed the expansion of the global network of "Starfish Connect" and added regional coverage of the southern Indian Ocean, realizing the coverage of major shipping routes and fishing grounds in the southern Indian Ocean. The beam has been put into use to meet the communication needs of ships operating in the southern Indian Ocean shipping routes and the Indian Ocean region. Sino Global Network is an independent and controllable global satellite broadband communication network, covering more than 90% of the world's major air routes.
In terms of scientific exploration, during the 2020 Qomolangma height survey mission, the communication satellite will provide communication guarantee for the mountaineering team from Lhasa City to the 5,200m Qomolangma base camp and then to the 6,500m altitude forward camp. The Ku frequency vehicle-mounted "Mobile Communications" system traveling with the mountaineering team was connected to the Zhongxing 6A satellite. After the signal operator was stationed at the satellite center station in Lhasa, it was connected to the Internet through a special line, providing stable network services and emergency communication support for the smooth conduct of the Qomolangma height survey.
6. Financial capital market
1. Stare surprise investment. Shenzhen Stock Exchange regulations require IPO enterprises to check shareholders through pre-IPO investment or cool down
It is reported that the Shenzhen Stock Exchange is further implementing the "surprise investment" information disclosure supervision. The shenzhen stock exchange before distributed to the broker on the gem to carry out the first information disclosure regulation of shareholders of listed companies related issues notice "(hereinafter referred to as" notice "), and the new claims in examination of the gem IPO project shareholder information disclosure to make clear a regulation, and verification for the gem IPO project team according to the "notice" to do a good job of shareholders for verification and information disclosure.
In this regard, a number of investment bankers said that regulators tightened the IPO enterprise shareholders letter requirements, investment banks to corporate shareholders to carry out a comprehensive through verification. Some investment banks say the workload is huge.
Venture circle in the surprise investment under the new rules also suffered a certain impact, venture capital institutions to re-examine the pre-IPO investment performance ratio. Industry insiders expect short-term speculative enthusiasm may cool down.
It is reported that this year on February 5th, securities regulatory commission issued the regulations shall be subject to guidance - starting about application information disclosure of shareholders of listed companies "(hereinafter referred to as the" guidelines "), the key constraint equity holding, near pre-ipo assault a shareholder, a stake in abnormal problems such as price, demand new shareholder stake in the 12 months before the filing of locking in 36 months. Subsequently, the Shanghai and Shenzhen stock exchanges on the IPO enterprise shareholder information disclosure regulation to answer the reporter's question.
Journalists from securities companies in China have learned that on February 23, Shenzhen Stock Exchange issued the "Notice on Matters Related to the Implementation of the Regulation on the Information Disclosure of Shareholders of Firing Listed Enterprises on the Growth Enterprise Market" to securities companies, giving the IPO project team more clear requirements.
According to the content of the notice obtained by the reporter, for the enterprises that have applied for the GEM after February 5 and the enterprises that have applied for the GEM before 5 days have not been accepted, the Shenzhen Stock Exchange has put forward the need to implement various requirements:
First, the issuer shall issue the Special Commitment for Shareholder Information Disclosure in accordance with the second provision of the Guidelines issued by the CSRC, such as whether there is a situation of "improper transfer of interests by the issuer's equity" in the commitment.
Second, the sponsor and the lawyer of the issuer shall conduct a comprehensive and in-depth inspection in accordance with the requirements of the Guidelines, conscientiously implement the inspection work one by one, and issue a Special Inspection Report respectively. The report shall describe the verification methods and issue clear and positive conclusions on the verification issues, and shall not issue non-positive opinions such as "no findings".
Third, the issuer shall terminate the equity entrust and illegal shareholding in accordance with the law before filing, and the financial products such as private investment funds shall be put on record or put under supervision.
If the IPO project does not submit the special commitment and special verification report as required, and does not complete the rectification within the prescribed time, the Shenzhen Stock Exchange Form
An investment banker in North China said that the equity structure of IPO projects since last year is not transparent, and many problems have been found after penetration, such as the possible transfer of benefits, which has aroused market concern. The regulatory move is intended to crack down on institutional arbitrage and guide investment institutions to make long-term investments.
From the investment bank's perspective, several bankers claim the workload has soared. "Regulators are essentially asking all IPO companies' shareholders to be pierced, disclosed and verified," said an investment banker at a brokerage in eastern China. 'It's a lot of work for investment banks,' the person acknowledged, with some IPOs having hundreds of shareholders after passing through layers.
Venture cast circle also suffers new regulation certain impact. A private equity (PE) fund in Shenzhen said it was considering reducing its investment in pre-IPO projects. The company's previous layout of pre-IPO projects was mainly based on the advantages of IPO "fast listing and good performance of new shares". "Now the environment has changed, the investment of good projects is still overcrowded, but the uncertainty of whether ordinary projects can be successfully withdrawn after three years and whether they can have ideal returns has become higher."
Especially at this stage, the new shares have become the norm. A co-founder of a private equity firm in Shanghai claims that science and innovation board projects tend to push up valuations during the pre-IPO period, greatly increasing investment risk for some venture capital firms. "If the assault becomes a shareholder to enjoy locked three years of treatment, reference now science and innovation board many companies break the situation, after 3 years how much income is really hard to say."
There are also institutional analysis, the current IPO audit cycle has become longer, from this point of view, the new rules did not let the investment institutions than the original pay a lot of time cost. Jun he law firm partners Wang Yideng people, 36 months since the lock-up period for shares from the date of "", covers" stake in listed - declaration - feedback - "the whole listing cycle, objectively does to the exit of investors expected added some uncertainty factors, but the a-share market in the near future with A long cycle audit (including auditing and registration and issuing process usually in 7-9 months, longer even in the 12 months or so), against the background of" get stock lock 36 months from the date of "and" listed "lock in 12 months after two circumstances, does not have the too big differences for investors. This change will not be applicable to the new rules of investors to increase too much lock time, on the "through the A-share listing to achieve exit" investment logic will not have A fundamental impact.
2. Regional trials of comprehensive reform of state-owned assets and SOEs were extended to cities such as Qingdao, Xi 'an, Wuhan, and Hangzhou
Hao Peng, director of the State-owned Assets Supervision and Administration Commission (SASAC), pointed out in a recent article in Qiqiu magazine that Qingdao, Xi 'an, Wuhan, Hangzhou and other cities will be included in the scope of comprehensive reform on the basis of the comprehensive reform experiment in Shanghai, Shenzhen and Shenyang (hereinafter referred to as "comprehensive reform") and the implementation of major national regional strategies.
It is found that the reform measures of a new batch of pilot cities have their own emphasis and regional characteristics. As a new measure to encourage innovation at the grass-roots level and deepen the reform of state-owned enterprises, regional state-owned assets and state-owned enterprises will make comprehensive improvements to expand the scope and improve the efficiency, and promote the reform of state-owned enterprises across the country from point to point.
1) Cooperating with the implementation of major national regional strategies
On January 18, the State Council SASAC held a meeting of heads of local SASAC and a meeting of directors of the office of the local SOE reform leading group. The meeting clarified the timetable and task book of 2021 SOE reform, among which promoting regional comprehensive reform and improving the efficiency has also been listed as the key task of 2021 reform.
The meeting called for the first batch of regions to further deepen the comprehensive reform measures in line with the three-year action plan and build an "upgraded version" of the comprehensive reform. The second batch of comprehensive reform areas should highlight their regional characteristics, adhere to the problem-oriented approach, and do a solid job in formulating and implementing comprehensive reform plans. More attention should be paid to improving supporting policies to promote the joint reform and coordinated development of local SOEs with those at the provincial and municipal levels.
Xing-guo liu, a researcher at the Chinese enterprise federation research analysis, comprehensive reform is a period in the future assets is an important way to promote the reform of state-owned enterprises, aims at summarizing the years single reform on the basis of successful experience, for at the same time in the field of assets of state-owned enterprises reform and multiple integration reform achievements, can give full play to the synergy between various reforms.
In the selection of pilot projects, the eastern, central and western regions are taken into account to explore and accumulate experience in the comprehensive implementation of state-owned assets and SOEs reform in different regions, different levels of economic development and different industrial structures, so as to lay a solid foundation for further comprehensive reform in the future.
An authoritative personage of the state capital system introduced that the selection of the pilot is also to cooperate with the implementation of the national major regional strategy. These cities are in a key position in the national major regional strategy such as the rise of the central region, the development of the western region, the development of the Yangtze River Economic Belt, the integrated development of the Yangtze River Delta, and the high-quality development of the Yellow River Basin.
(2) Promote reform through various areas
In July 2019, after the deliberation and approval of the second meeting of the State Council Leading Group on SOE Reform, the Shanghai and Shenzhen "Regional Experiment on Comprehensive Reform of State-owned Assets and SOEs" and the Shenyang Special Work on Reform of State-owned Assets and SOEs in Key Areas and Key Sections were officially launched.
Sasac said, to carry out the heddle change test is new measures to further deepen the state-owned assets of state-owned enterprises reform, to encourage grassroots innovation, comprehensively promote state-owned assets of state-owned enterprises reform in experimental area to carry out the "1 + N" policy, strengthen the assets of state-owned enterprises reform and systematic, holistic, collaborative, and to point with surface to achieve the national state-owned assets of state-owned enterprises reform has positive significance.
According to the reform plan, the comprehensive reform region should boldly explore and innovate, and strive to become a leading area of state-owned assets and SOEs reform by 2022 with strong Party leadership, scientific and efficient SOEs supervision, fully stimulated SOEs' vitality, continuously enhanced innovation-driven, and fully implemented national strategies.
The purpose of the comprehensive reform experiment is to promote the reform of state-owned assets and state-owned enterprises. Liu Xingguo said that the comprehensive reform experiment will have two impacts on the national reform: one is to directly promote the deepening of the reform of state-owned assets and SOEs in the pilot areas; Second, the suggestive effect of the pilot reform will have a directional influence on the deepening of the reform of state-owned enterprises in other regions, and will guide the local SASAC and state-owned enterprises to further deepen the reform of their own regions and enterprises around the key aspects of the pilot.
At present, the comprehensive reform in Shanghai, Shenzhen and Shenyang has achieved initial results. Take Shenzhen as an example. In 2020, the total amount of state-owned economic assets, operating income and profit of Shenzhen will increase by 12.3%, 9.9% and 5.3% respectively year-on-year. The tax paid in Shenzhen was 41.4 billion yuan, up 6.8% year on year, much higher than the average growth of central and local SOEs.
Shenzhen sasac, after a year of continuous progress, assets reorganization and integration of shenzhen "1 + N" scheme is fully implemented, trading group, environmental water, major industry investment, shenzhen public resources trading center, the Chinese procurement sunshine trading platform, and other enterprises to form a restructuring is complete, 77.8% of the state-owned capital accumulation to the infrastructure utilities as the main body, the financial and strategic emerging industries for the two wings of one body two wings "areas.
(3) What breakthroughs will be made in the reform of state-owned enterprises in the four places?
The State-owned Assets Supervision and Administration Commission (SASAC) organized a video symposium on the comprehensive reform of state-owned assets and state-owned enterprises in the region on January 13, according to the SASAC's website. The first batch of Comprehensive Reform Zones, such as Shanghai and Shenzhen, exchanged typical experiences, while the second batch of Comprehensive Reform Zones, such as Hangzhou, Qingdao and Xi 'an, and China Merchants Group reported their reform ideas and plan formulation.
According to state-owned assets supervision and administration in Qingdao, Qingdao to carry out the heddle change features of state-owned entrepreneur team construction, explore "stick to political standards, in accordance with the standard management, cultivate the spirit of entrepreneurship, to carry out the principle of material benefits, perfecting the system of mechanism safeguard" unique local characteristics of state-owned entrepreneur team "five one" construction mode, to experience can copy, but the whole country.
Liu Ziyu, member of the Standing Committee of Qingdao Municipal Party Committee and secretary of Qingdao Municipal Commission for Discipline Inspection, said, "The most important thing for a state-owned enterprise to become stronger, better and bigger is to have a team of excellent entrepreneurs who can brave the waves of the market economy and stand at the head of the tide. From this point of view, the cultivation of excellent entrepreneurs is the focus and key of the current reform of state-owned enterprises in Qingdao.
In terms of assets supervision, Qingdao has released the national state-owned assets system first tube capital assets supervision function normative documents "Qingdao state-owned capital management interim measures", to carry out the investor oversight, enterprise as a legal person property rights, management autonomy, allowing flexibility manage capital enterprises, fully guaranteed the enterprise market competition main body status.
Zang Yijie, former deputy director of the State-owned Assets Supervision and Administration Commission of Qingdao, once said that the listing of state-owned enterprises in Qingdao is a short board at present, with only 10 enterprises, which is still a big gap compared with other cities in the province. In order to catch up with the gap as soon as possible, the State-owned Assets Supervision and Administration Commission of Qingdao has also formulated a three-year plan for the listing of state-owned enterprises, striving to increase the number of existing 10 listed state-owned enterprises to about 30 by 2022. Through the use of a variety of means, a variety of ways to send the enterprise to the listing platform.
In Wuhan, mixed-use reform and restructuring are the centerpiece of SOE reform. Since last September, a new round of state-owned enterprise reform in Wuhan has been prelude to intensive restructuring and integration of state-owned enterprises. This round of state-owned enterprise restructuring, Wuhan adhere to the market-oriented, performance-oriented, from the current restructuring situation, the main business of similar enterprises are concentrated, the main responsibility and main business further focus, to avoid the homogeneous competition.
Xi 'an's reform measures put more emphasis on improving efficiency and preventing risks. Xi 'an State-owned Assets Supervision and Administration Commission (SASAC) held a meeting of the city's state-owned assets system in 2021 on January 19, pointing out that comprehensive reform experiments were carried out and breakthroughs were made in comprehensively deepening the reform. In particular, it mentioned the efforts to increase earnings and made breakthroughs in improving corporate efficiency. Increase investment and construction efforts to achieve breakthrough progress in serving urban development; Preventing and defusing major risks, and making breakthroughs on the bottom line of holding risks.
Hangzhou, as an important market economy town, continues to enhance the vitality of enterprises has become one of the goals of the reform. Wang Xi, director of Hangzhou State Assets Supervision and Administration Commission, pointed out in the city's State assets work conference a few days ago that to speed up the construction of the city's state assets supervision "a game of chess" large pattern, do not continue to enhance the authority of state assets supervision and the vitality of the reform and development of state-owned enterprises, to strive to show the "important window" of the "head goose style" to make greater efforts and contributions to state assets and state-owned enterprises.
3. Hillhouse Venture Capital independently raised more than 10 billion yuan, and sold more than 200 cases a year
(1) Independently raised over 10 billion yuan
In 2020, the "cold winter of capital" will be compounded by the sudden epidemic. According to statistics, investment and financing events in the domestic venture capital market in 2020 decreased by 25% compared with that in 2019, and the cumulative financing amount decreased by 16% compared with that in 2019. Both the number of financing events and the amount of financing were the lowest in nearly 6 years.
Against this backdrop, it is understood that Hillhouse Ventures has raised more than 10 billion yuan in US dollars and renminbi alone. The LPs behind it include mainstream institutional investors such as university endowments, pension funds, sovereign funds, parent funds and family offices.
A year ago, hillhouse in public official released a letter "to entrepreneurs", announced the formation of focusing on early-stage startups hillhouse venture capital, the future of science and technology (software and hardware technology), medical treatment, biological medicine and medical apparatus) and consumer (new consumption and Internet) in areas such as excellent early startup companies continue to overweight.
(2) More than 200 projects were invested in a year
In 2020, Hillhouse Venture Capital will deliver more than 200 projects, including more than 80 projects in the fields of science and technology (software and hard technology) and medical (biological medicine and medical devices). Less than two months in 2021, 23 investment projects have been announced, and 5 cases have been officially announced in the same day.
Through combing these invested enterprises, it is not difficult to find that scientific and technological innovation is the most important concern of Hillhouse Venture Capital, especially the hard technology, basic and application software, biomedical, medical devices and consumer upgrading under scientific and technological change.
Hillhouse's investment in the field of science and technology (TOB) is divided into two lines: one is the hardware layer, which lays out cutting-edge technologies such as chip semiconductor, quantum communication, aerospace technology and high-end instruments; The second is the software layer, including the underlying software and application software.
In terms of hardware, Hillhouse Venture Capital has made significant frequent bets since the second half of 2020. In the field of chip semiconductor, Hillhouse Venture Capital has successively invested in more than 10 projects, such as Xinyihui, Horizon, Xinhuacang, Xingsi Semiconductor, Minxin Semiconductor, Biling Technology, etc., and invested in Guoyi Quantum, a leading player in the field of quantum technology.
In the software layer, enterprise-level applications with technical originality, such as Kujiale, Classin and Aikonong, which serve the Chinese native scene, have been launched. Network security vertical companies such as Shupeng Technology, Moyun Technology, Anxin Network Shield, Yuanbao Technology, Paila Software; In view of the mass data storage and processing problems commonly faced by the current enterprises, the layout of Chuanglin Technology, MiaoRu Technology and other enterprises. In addition, it has invested in early stage companies with technological innovation in basic software, including Zilliz, Yingyun Technology and First-class Technology.
Health care has always been one of Hillhouse's deepest and widest areas of research, and biological medicine and medical devices are also the two most important investment directions of Hillhouse Ventures in 2020.
Then, in the field of biomedicine, hillhouse venture investment early a group of leading and innovative company, such as biological, scarlett in the field of gene therapy for new crown vaccine and treatment in the field of abon, Dan sequence, clover, etc., in the last outbreak of the medical equipment field, early have accelerated in hillhouse go, cast including minimally invasive robot, keys, bo jia robot medicine, only take medical treatment, huake precision, thick kay, such as health care, on behalf of the project.
In addition to hard technology and medical care, Hillhouse Venture Capital will also make a series of investments in the major consumer areas of the main track in 2020, focusing on the lifestyle such as makeup, food and beverage, smart home, online education and so on.
For example, such cutting-edge consumer brands as Xi Tea, Hankou No.2 Soda Factory of China Chao, intelligent floor mopping robot Yunjing, Wang Fulanxiao, Baijia Food, particle fanatics of scientific and technological sportswear, fashion cosmetic circle brand Moody, children's cheese brand Miaofi, compound seasoning and added flavor, etc. In the consumer Internet track, Hillhouse venture capital also code programming cat, open class bar, walnut programming, good diagnosis and so on.
In just one year, Hillhouse Venture Capital began to reap a series of IPOs while investing heavily. Hillhouse Venture Capital's first IPO in the consumer sector was the Perfect Diary, which made five consecutive rounds of bets and was its largest outside shareholder. Other listed projects include Jakos, Deci Pharma, Pega Medical, Genting Xinyao, Xintong Medical and Beikang Medical.
(Semiconductor Chip, Laser, New Energy
Yan Chenxi (Composites, Satellite Communications, Financial Capital) Feng Zhenghao
(The above information mainly comes from: OFWEEK, OFWEEK Laser, OFWEEK Solar PV, Today Semiconductor, Semiconductor Industry Observation, Materials Science and Engineering, Material Man, Leqing Think Tank, Future Think Tank, Soby Solar PV Network, JiBang New Energy Network, Polaris Solar PV Network, Gaogong Lithium Power, Xi 'an Financial Lollipop, Composite Material Network , the material of powers, international electronic information online, satellite industry, new material, China international exhibition on composite materials, glass fiber composites, satellite and network, the global first whiff, silicon valley network, clear division of research, China satcom, satellite and application, kechuang star, carbon fiber production technology, China satcom, carbon fiber, practical finance, financial depth study club, Chinese military strategy, strategic frontier technology, industry and the investment community, China Automotive News, Securities Times Website, 36Kr, Orient Fortune, China Securities Journal, New Economy 100 People, Post-investment Management Research Institute, Emerging Industry Investment Alliance, Equity Investment Forum, Wind Information, Boulce Capital, Ceibs Capital, State-owned MixedReform Research Institute, Opportunity Xi 'an, Midou Capital, etc.)