On September 30, according to an announcement on the China Securities Regulatory Commission’s website, Wuhan Xinxin Semiconductor Manufacturing Co. (XMC) has had its IPO application for the STAR Market officially accepted, marking the official start of its listing process.

According to a report by ICsmart, both Yangtze Memory Technologies (YMTC) and XMC are subsidiaries of the holding company Yangtze Memory Technologies Group.

ICsmart reports that XMC, founded in 2006, is a semiconductor manufacturer focused on NOR Flash memory chips and operates the first 12-inch semiconductor production line in Central China. By the end of 2017, XMC had shipped over 750,000 NOR Flash wafers, covering markets ranging from consumer electronics to industrial and automotive-grade applications, and that year achieved profitability. In 2020, XMC announced full-scale mass production of its self-developed 50nm SPI NOR Flash products.

According to information from XMC’s official website, the company currently offers 12-inch NOR Flash, CIS, and Logic wafer foundry services, with process nodes of 40nm and above.

ICsmart also notes that YMTC, the largest NAND Flash manufacturer in China, successfully developed China’s first 3D NAND flashy in October 2017 through a combination of independent R&D and international collaboration. In 2019, YMTC began mass production of 64-layer 3D NAND based on its Xtacking architecture. By April 2020, YMTC announced the successful development of 128-layer 3D NAND, with its X2-6070 model being the first third-generation QLC flash, boasting the industry’s highest I/O speed, storage density, and single-chip capacity at the time of its release.

In 2022, YMTC was reported to have entered Apple’s iPhone supply chain, providing NAND for the iPhone SE3. However, later that year, the U.S. imposed stricter export controls on Chinese semiconductors, adding YMTC to the Entity List, which has impacted the company’s development.

(Photo credit: XMC)

According to a report from the Korean media outlet The Chosun Daily, Chinese company Huawei plans to collaborate with memory manufacturer Wuhan Xinxin Semiconductor Manufacturing Co. (XMC) to produce High Bandwidth Memory (HBM) semiconductors. Additionally, Jiangsu Changjiang Electronics Technology (JCET) and Tongfu Microelectronics, which are developing CoWoS advanced packaging technology, are also participating in the project.

CoWoS is a high-precision technology that integrates graphics processing units (GPUs) and HBM on a single substrate. This enhances computational performance, saves space, and reduces power consumption. Currently, the CoWoS technology developed by leading foundry TSMC is used in the production of AI chips for GPU giant NVIDIA.

In May 2023, according to another report from Reuters, China’s leading DRAM company CXMT (ChangXin Memory Technologies) collaborated with Tongfu Microelectronics to develop HBM chip samples. Additionally, tech media outlet The Information reported earlier that a series of Chinese companies, led by Huawei, plan to mass-produce HBM and increase China’s HBM output by 2026.

Furthermore, in March 2023, XMC announced the construction of an advanced HBM manufacturing plant, which is expected to produce 3,000 12-inch wafers per month.

The report further emphasizes that China is still in the early stages of HBM development. However, under the technological restrictions imposed by the United States in the semiconductor and artificial intelligence sectors, Huawei and a series of Chinese semiconductor companies’ move into HBM production has attracted close attention.

Currently, South Korean companies SK Hynix and Samsung Electronics control most of the global HBM market share, indicating that Huawei’s plan to develop HBM still has a long way to go.

Per TrendForce’s data, the three major HBM manufacturers held market shares are as follows: In 2023, SK Hynix and Samsung each held around 47.5%, while Micron’s share was roughly 5%. Still, forecasts indicate that SK Hynix’s market share in 2024 will increase to 52.5%, while Samsung’s will decrease to 42.4%.

Read more

• [News] Micron’s HBM Expansion at Full Throttle: Rumored to Expand in US, Malaysia Also an Option
• [News] XMC Initiates IPO Plan, Potentially Becoming China’s First HBM Foundry

(Photo credit: XMC)

According to sources and documents cited in a report from Reuters, two major Chinese chip manufacturers are in the early stages of producing High Bandwidth Memory (HBM) semiconductors, primarily for AI chipsets. Despite facing export restrictions from the United States, China is currently making progress mainly on older versions of HBM, gradually reducing reliance on other global suppliers.

Sources cited in the same report revealed that China’s largest DRAM chip manufacturer, ChangXin Memory Technologies (CXMT), is collaborating with chip packaging and testing company Tongfu Microelectronics to develop HBM chip samples, which are being showcased to potential customers.

On the other hand, Wuhan Xinxin Semiconductor Manufacturing Co., Ltd. (XMC) is constructing a 12-inch plant with a monthly capacity of 3,000 wafers, which is planned to  manufucture HBM chips. Per the corporate registration documents, the plant is expected to commence operations in February this year.

Sources in the report mentioned that CXMT and other Chinese chip companies regularly hold meetings with semiconductor equipment manufacturers from South Korea and Japan to purchase tools for HBM development. Currently, CXMT, Tongfu Microelectronics, and XMC have not responded to these reports.

CXMT and XMC are both private companies that have received funding from local governments in China to drive technological development amid the country’s vigorous efforts to develop its semiconductor industry.

There also are reports indicating that Huawei, the Chinese tech giant subject to US sanctions, looks to collaborate with other local companies to produce HBM2 chips by 2026. According to a report from The Information, a group led by Huawei aimed at producing HBM chips includes Fujian Jinhua Integrated Circuit.

As per market reports cited by Reuters, China’s current focus is on HBM2. While the US has not restricted the export of HBM chips, HBM3 chips are manufactured using US technology, which many Chinese companies, including Huawei, are prohibited from using.

According to the analysis by Trendforce, the research and manufacturing of HBM involve complex processes and technical challenges, including wafer-level packaging, testing technology, design compatibility, and more. CoWoS is currently the mainstream packaging solution for AI processors, and in AI chips utilizing CoWoS technology, HBM integration is also incorporated.

CoWoS and HBM involves processes such as TSV (Through-Silicon Via), bumps, microbumps, and RDL (Redistribution Layer). Among these, TSV accounts for the highest proportion of the 3D packaging cost of HBM, close to 30%.

Read more

• [News] XMC Initiates IPO Plan, Potentially Becoming China’s First HBM Foundry
• [News] Three-way Contest for HBM Dominance, Uncertainties Surrounding China’s Supply Chain Involvement

(Photo credit: CXMT)

NOR Flash manufacturer Wuhan Xinxin Semiconductor Manufacturing Co. (XMC) recently disclosed an IPO counseling filing with the Hubei Securities Regulatory Bureau, according to the official website of the China Securities Regulatory Commission. Its recently announced bidding project may indicate its ambition to become China’s first HBM foundry, according to the report by Chinese media Semi Insights.

As per information from its website, XMC provides 12-inch foundry services for NOR Flash, CIS, and Logic applications with processes of 40 nanometers and above. Originally a wholly-owned subsidiary of Yangtze Memory Technologies (YMTC), XMC announced in March its first external financing round, increasing its registered capital from approximately CNY 5.782 billion to about CNY 8.479 billion. Its IPO counseling filing also indicates that it is still majority-owned by YMTC, with a shareholding ratio of 68.1937%.

According to market sources cited in the same report, XMC’s initiation of external financing and IPO plan is primarily aimed at supporting the significant expansion during a crucial development phase for YMTC. Given the substantial scale of YMTC, completing an IPO within three years poses challenges. Therefore, XMC was chosen as the IPO entity to enhance financing channels.

It is noteworthy that XMC also announced its latest bidding project on HBM (High Bandwidth Memory) – related advanced packaging technology R&D and production line construction, according to local media.

The project indicates the company’s capability to apply three-dimensional integrated multi-wafer stacking technology to develop domestically produced HBM products with higher capacity, greater bandwidth, lower power consumption, and higher production efficiency. With plans to add 16 sets of equipment, XMC’s latest project aims to achieve a monthly output capacity of over 3000 wafers (12 inches), showing its ambition of becoming China’s first HBM foundry.

On December 3, 2018, XMC announced the successful development of its three-dimensional wafer stacking technology based on its three-dimensional integration technology platform. This marks a significant advancement for the company in the field of three-dimensional integration technology, enabling higher density and more complex chip integration.

Currently, XMC has made much progress in the research and development of three-dimensional integrated multi-wafer stacking technology, which has been evident in the successful development of three-wafer stacking technology, the application of three-dimensional integration technology in back-illuminated image sensors, advancements in HBM technology research and industrialization efforts, as well as breakthroughs in the 3D NAND project.

Read more

• [News] China’s Chip Production Surges by 40% in Q1
• [News] Three-way Contest for HBM Dominance, Uncertainties Surrounding China’s Supply Chain Involvement

(Photo credit: XMC)