国家大基金三天两次出手，这次目标是A股芯片封测龙头

中国证券报2021-05-19

从2015年助力通富微电收购AMD旗下封测资产，到2018年接下富士通中国退出股份，国家集成电路产业投资基金股份有限公司（简称“国家大基金”）对芯片封测龙头公司通富微电的发展助力可谓不少。如今果子培育成熟，国家大基金也要享受果实了。 5月19日晚，通富微电发布公告称，国家大基金拟第三次减持通富微电股份，减持数量不超过2658.07万股，不超过公司股份总数的2%。国家大基金一期从2014年运营...

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精彩评论

赞我的今年账户翻十倍
2021-05-20
赞我的今年账户翻十倍
最大空头来了
Jessie8590
2021-05-20
Jessie8590
读取
- ASLi:
  [微笑]
LunLun6767
2021-05-20
LunLun6767
反垄断，好[得意]
应何文
2021-05-20
应何文
国家队带头收割
健安_1832
2021-05-20
健安_1832
666来咯来咯all in
赤耳三皮
2021-05-20
赤耳三皮
[微笑]

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Chip（游戏主机处理器）等芯片进行封装和测试的技术实力，跻身全球前十大封测厂，极大提升国际影响力和知名度。\n这次并购也让通富微电保持与AMD紧密的业务合作。从后来的发展来看，AMD在CPU和GPU市场大放异彩，市场份额持续提升。据了解，AMD已成为通富微电第一大客户。\n通富微电在投资者调研中也强调，公司通过收购AMD封测资产，与AMD形成了“合作+合资”的商业模式，实现与客户之间的“良性互动”。AMD近年在电脑CPU端推出锐龙3000系列等处理器，服务器CPU推出第二代骁龙等处理器，GPU出货量首次超过英伟达，市场份额逐渐提升，资本市场反响强烈。在AMD市场占有率不断攀升的预期下，公司未来发展动能充足。\n国家大基金当时为这一并购出资2.7亿多美金，支持上述收购在2016年4月底交割完成。国家大基金当时和通富微电签署了《售股权协议》等，有权要求通富微电收购大基金手中的股份。\n2016年10月，通富微电便发布公告，拟以非公开发行股份方式向国家大基金购买富润达49.48%股权和通润达47.63%股权，并募集配套资金。通润达、富润达实质上为当时收购AMD旗下苏州和槟城厂各85%股权的持股平台。当时确定发行价格10.61元/股，确定交易对价为19.21亿元，合计向大基金发行股份1.81亿股。2018年1月交易完成，国家大基金借此直接持有通富微电1.81亿股股份，约占通富微电总股本的15.70%，成为通富微电的第三大股东。\n紧接着，2018年2月，国家大基金又承接了富士通中国退出的股份。富士通中国将其所持的通富微电6954.71万股股份以6.4亿元转让给国家大基金，占通富微电总股本6.03%。至此，国家大基金将直接持有通富微电2.51亿股股份，约占通富微电总股本的21.72%，成为通富微电第二大股东，进一步加强与通富微电合作与联系。\n此前已两次减持\n2019年1月，国家大基金在当初通富微电定增时所获得的1.81亿股股份解除限售。\n在此之后，国家大基金已经两次减持通富微电。\n2020年5月29日，国家大基金通过大宗交易方式减持1142.16万股。\n2020年7月29日，通富微电发布公告称，国家大基金拟以集中竞价交易方式减持公司股份不超过1153.70万股，即不超过公司股份总数的1%。2020年8月24日至2020年9月17日，国家大基金减持完毕，每股减持价格区间在21.8元-25.61元，减持后持股数量为2.28亿股。\n如今，国家大基金即将开始进行第三次减持。\n通富微电5月19日晚公告称，国家大基金拟在公告发布之日起15个交易日后的6个月内，以集中竞价交易方式减持公司股份不超过2658.07万股，即不超过公司股份总数的2%。\n\n来源：公司公告\n5月19日，通富微电收报19.31元/股，总市值257亿元。国家大基金拟减持的2658.07万股，价值逾5.13亿元。\n处业绩释放期\n目前半导体行业景气度上行，产能紧缺遍布全行业，作为封测龙头，通富微电有望把握行业上行机会。\n通富微电2021年一季度实现收入32.68亿元，同比增长50.85%，归母净利润1.56亿元，同比大幅扭亏。一季度毛利率17.53%，同比提升4.47个百分点。中金公司分析，通富微电目前各厂区产能利用率均维持在90%以上，同时从一季度现金资本支出10.8亿元、达到历史高位来看，公司提前布局产能扩充提升订单承接能力，有望充分把握行业上行机会。\n通富微电的业务需求高涨与战略合作伙伴AMD密不可分。得益于“先进架构”叠加“先进工艺”，AMD成功量产超过20种7纳米制程的PC、游戏和数据中心产品，AMD在2020年营收增长45%，创97.6亿美元的新纪录，2021年一季度营收增长92.9%，超出业绩指引7.66%，预计2021年全年仍将高速增长。\n通富微电子公司通富超威苏州、通富超威槟城，即此前收购的AMD旗下封测厂，如今也是AMD最主要的封测供应商，有望充分受益。\n除了AMD，联发科也是通富微电重要客户。联发科2021年1月、2月的营收同比增长78.4%，发展势头非常强劲。通富微电作为联发科在中国大陆重要的封测供应商，与联发科的业务规模也会大幅增长。\n公司在业绩说明会上表示，今年集成电路行业处于高景气周期，给公司带来了前所未有的发展机遇。2021年，公司计划实现营业收入148亿元，较2020年营收增长37.43%，预计经济效益也将实现飞跃式增长。","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":197516129,"gmtCreate":1621473149561,"gmtModify":1634188893046,"author":{"id":"3569581951650623","authorId":"3569581951650623","name":"赞我的今年账户翻十倍","avatar":"https://static.tigerbbs.com/d1d63378f07d4231f465c7cd27356410","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"最大空头来了","listText":"最大空头来了","text":"最大空头来了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197516129","repostId":1130539486,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":197599209,"gmtCreate":1621472101401,"gmtModify":1634188912105,"author":{"id":"3571194868777759","authorId":"3571194868777759","name":"Jessie8590","avatar":"https://static.tigerbbs.com/5daf40662fa655e5e3885f4cfb1a6bfc","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"读取","listText":"读取","text":"读取","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/197599209","repostId":1130539486,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4386488,"gmtCreate":1621479699682,"gmtModify":1631895100648,"authorId":3571203334349794,"author":{"id":3571203334349794,"authorId":3571203334349794,"name":"ASLi","avatar":"https://static.tigerbbs.com/ff95073e7a7f9dc9941ec33732db51ad","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":197599209,"type":1,"supId":0,"prevId":0,"content":"[微笑]","text":"[微笑]","html":"[微笑]"}],"langContent":"CN"},{"id":197266727,"gmtCreate":1621469569969,"gmtModify":1634188956532,"author":{"id":"3578562412522571","authorId":"3578562412522571","name":"LunLun6767","avatar":"https://static.tigerbbs.com/e777b1ae53f7859ee574d632a763fd54","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"反垄断，好[得意]&nbsp;","listText":"反垄断，好[得意]&nbsp;","text":"反垄断，好[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197266727","repostId":1130539486,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":197269690,"gmtCreate":1621469409910,"gmtModify":1634188960488,"author":{"id":"3581549565362244","authorId":"3581549565362244","name":"应何文","avatar":"https://static.tigerbbs.com/54b4941f3289052c9a0636cc793d8059","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"国家队带头收割","listText":"国家队带头收割","text":"国家队带头收割","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/197269690","repostId":1130539486,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":197640354,"gmtCre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