Weekly News 18 | Please check it！

Catalog

1.Foxconn Opens New Global Business HQ in China’s Zhengzhou?

2.Global IC Design Company Revenue Rankings for Q4 2022 Released, Willsemi has been in the Top 10 for 4 consecutive quarters

3.Korea’s POSCO Future M & SK on announced domestic investment plans

4.Volkswagen Group Increased Global BEV Sales In Q1 2023 By 42%

5.Intel’s upbeat forecast offers hope that rebound is underway

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01

Foxconn Opens New Global Business HQ in China’s Zhengzhou

The unveiling ceremony of Foxconn's new business headquarters was held on April 25th in Zhengzhou. Foxconn has reached a series of important consensus with Zhengzhou in terms of cultivating new kinetic energy, recreating new advantages, and rushing to new tracks. Foxconn's mainland "3+3" strategic industrial headquarters was unveiled in Zhengzhou. Foxconn's Zhengzhou plant has three locations in the area: Zhengzhou Airport Economy Zone, Economy&Technology Developing Zone, and Zhongmu County. The Zhengzhou Airport Economy Zone and Economy&Technology Developing Zone mainly manufacture intelligent smartphones such as iPhones and their components, and the high-end version of the iPhone 14 is also produced in the airport industrial zone.?

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Comment

Publicly available information shows that Zhengzhou Foxconn is the largest smart terminal production base for Foxconn globally. Since its establishment in 2010, Zhengzhou Foxconn has accumulated an import and export value that accounts for about 60% of Henan Province's total import and export value, and 80% of Zhengzhou City.

02

Global IC Design Company Revenue Rankings for Q4 2022 Released, Willsemi has been in the Top 10 for 4 consecutive quarters

On April 25th, TrendForce released the revenue rankings for the top 10 global IC design companies for Q4 2022. The top five companies are Qualcomm, Broadcom, NVIDIA, AMD, and MediaTek relatively.

TrendForce pointed out that unfavorable factors such as weak overall consumer demand, the control measures in mainland China, slowdown in enterprise IT spending, and cloud service provider demand have all affected the total revenue performance of the top 10 IC design companies in Q4 2022, with a quarterly decline of 9.2% to about 33.96 billion US dollars. It is noteworthy that mainland Chinese manufacturer Willsemi once again made it into the top 10, and has been on the list for four consecutive quarters. TrendForce stated that Willsemi benefited from the demand for new Android devices, and achieved a quarterly revenue increase of 2.7%, about 530 million US dollars.

Comment

For Q1 Forecast this year, TrendForce predicts that due to continued inventory corrections in the overall supply chain, coupled with the traditional consumer off-season impact, demand remains weak except for some driven by new product launches and supply chain inventory replenishment. Therefore, the revenue of the top 10 IC design companies is expected to continue to decline in Q1 of this year, but the quarterly decline rate will be slightly mitigated.

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03

Korea’s POSCO Future M & SK on announced domestic investment plans

POSCO Future M Co., a manufacturer of cathode and anode materials, announced on April 19th that its board approved the plan to invest 614.8 billion won ($460.5 million) by 2025 to build a cathode material plant with a capacity of 46,000 tons in Pohang in North Gyeongsang Province. The facility expansion is expected to boost the cathode material production capacity of POSCO Future M to 106,000 tons in Pohang alone. Another Korean battery maker SK on Co. also announced a plan to invest 470 billion won by 2025 in its battery research institute in Daejeon Metropolitan City to expand research facilities and newly establish a pilot plant for next-generation batteries and a global quality control center known as Global Validation Center (G-VC). SK on plans to expand research facilities within the existing site of the research institute and significantly expand research facilities for future technologies such as prismatic and lithium iron phosphate (LFP) batteries by next year.

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Comment

POSCO Future M and SK on come on the need for a strong local production base before targeting the North American market, according to sources. Korean battery and battery materials makers have been aggressive lately in their investments in North America to benefit from the tax credits under the U.S. Inflation Reduction Act.

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04

Volkswagen Group Increased Global BEV Sales In Q1 2023 By 42%

The Volkswagen Group (which includes Volkswagen, Audi, Porsche, Skoda, Seat, Cupra, and more) reports 2,040,600 global vehicle sales during the first quarter of 2023 (up 7.5 percent year-over-year). Its all-electric vehicle sales amounted to 141,000 (up 42.1 percent year-over-year)

However, in China, sales of the group fell 14.5% to 644,500 vehicles in Q1 of 2023. Sales in Western Europe and North America provided a boost to overall figures, with significantly up 26.9% and 22.1% separately.

Europe remains the largest BEV market for the Volkswagen Group, with 98,300 units (up 68.1 percent year-over-year). That's nearly 70 percent of the total volume. In the United States, sales almost doubled to 15,700, accounting for 11% of BEV sales of Vw around the world, but an interesting thing is what is happening in China. Sales decreased quite noticeably, by over 25 percent year-over-year to 21,500. That's a very worrying sign - after all, China was the second-largest market for the group and the largest plug-in car market globally.

Comment

In Q1, Volkswagen Group's all-electric vehicle sales amounted to 141,000 (up 42.1% year-over-year), which is 6.9 percent of the total volume (compared to 5.2 percent a year ago).

05

Intel’s upbeat forecast offers hope that rebound is underway

Intel, the largest chipmaker of the US, painted an upbeat forecast for the current quarter, suggesting it may be able to rebound from a historic slump. The revenue outlook of Intel was a bit brighter, with the company predicting sales of $11.5 billion to $12.5 billion.

The bids of semiconductor equipment have been increasing recently. In March 2023, most semiconductor manufacturers including GTA Semiconductor, Huahong Group, ZINGSEMI, bid for 321 sets of equipment, which is higher than 135 sets in February, with a month-on-month growth of 137.78%. According to Topsperity Securities, the global semiconductor equipment market is expected to return to positive?growth in?2024.

Comment

Gelsinger is confronting a massive pileup of inventory, weak demand and the loss of market share — all of which contributed to a historic slump. At the same time, he’s trying to speed up the introduction of new production technology, a costly attempt to regain Intel’s industry leadership. Investors have been skeptical that the chipmaker can catch up with rivals, and the stock plunged nearly 50% last year.

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