News information

Speed ​​up the process of domestic photoresist! Chinachem Technology increased its investment by 600 million yuan to increase photoresist development and research

Release on : Sep 14, 2021

Speed ​​up the process of domestic photoresist! Chinachem Technology increased its investment by 600 million yuan to increase photoresist development and research
(Reported by Electronic Enthusiast Network / Zhang Ying) The progress of photolithography machines and photoresists has always been the focus of attention in the semiconductor industry. As we all know, the photolithography process accounts for about 35% of the entire chip manufacturing cost, and the time-consuming process accounts for 40-50% of the entire chip process. It is the core process in semiconductor manufacturing. The photoresist is the key consumable of the photolithography process, and it is generally composed of photosensitive resin (polymerization agent), sensitizer (photoinitiator), solvent and auxiliary agent. The quality and performance of photoresist have an important impact on the photolithography process. Because of its high technical barriers, it has long been dominated by large overseas manufacturers and is a major obstacle to the localization of semiconductors.
After decades of continuous development and progress, photoresists have continuously expanded their application fields, and many types have been derived. According to the application fields, photoresists can be divided into semiconductor photoresists, flat panel display photoresists and PCB photoresists , And its technical barriers were lowered in turn.

From Founder Securities
According to industry experts, only Beijing Kehua under Rongda Sensitive and Tongcheng Cheng New Materials is currently able to mass-produce and supply to major manufacturers in the display field. The cutting-edge companies in the industry include Dingcai, Xinyihua, Gurun Technology and Beyondsoft. Up to now, there are few domestic manufacturers that can supply KrF and ArF photoresist in batches. SEMI data shows that several major Japanese manufacturers (including Shin-Etsu Chemical, Tokyo Chemical Industry (TOK), and Sumitomo Chemical) have 61%, 80%, and 93% market shares in the g-line/i-line, KrF, and ArF glue markets, respectively. While the domestic self-sufficiency rate of g-line/i-line is about 20%, the self-sufficiency rate of KrF photoresist is less than 5%, and there are currently no domestic companies that can mass-produce ArF photoresist for 12-inch silicon wafers.
On the evening of September 12, according to Chinachem Technology’s announcement, in order to promote its industrial layout in the field of semiconductor materials, the company held the eighth interim board of directors of 2021 on September 11, 2021. Proposal on Capital Increase of Subsidiaries", "Proposal Concerning the Proposal of the Company's Wholly Owned Subsidiaries to Increase Capital to Dongyang Kaiyang", "Proposal on Dongyang Kaiyang's Proposal to Initiate the Establishment of Joint Venture Companies with Xuzhou Bokang, Dongyang Jintou, and Yuan Jinqing".
The company intends to increase the capital of its wholly-owned subsidiary, Chinachem (Dongyang) New Materials Co., Ltd. ("Chinachem Dongyang"), with a total capital increase of 600 million yuan.
After the capital increase is completed, Chinachem Dongyang's total registered capital has been changed to RMB 1.5 billion, and it remains a wholly-owned subsidiary of the company. Chinachem Dongyang intends to increase the capital of the participating partnership Dongyang Kaiyang Technology Innovation and Development Partnership (Limited Partnership) ("Dongyang Kaiyang") with its own funds, with an increase of RMB 450 million. After the completion of the capital increase, Dongyang Kaiyang’s total subscription amount was changed to 1.5 billion yuan, Chinachem Dongyang’s subscription ratio was 89.87%, and Dongyang Kaiyang was still included in the company’s consolidated statements.
Dongyang Kaiyang intends to sign the "Joint Venture Agreement" with Xuzhou Bokang Information Chemicals Co., Ltd. ("Xuzhou Bokang"), Dongyang Jintou Holding Group Co., Ltd. ("Dongyang Jintou"), and Mr. Yuan Jinqing to jointly initiate the establishment of a joint venture company. Among them, Dongyang Kaiyang has subscribed a registered capital of 280 million yuan and holds 40% of the shares.

As early as July 21, Chinachem Technology had disclosed the "Chinachem (Xiamen) New Material Technology Co., Ltd. Announcement on the Progress of Outward Investment in Partnerships Involved by the Company", and the qualified investors mentioned in it can now be identified as Huawei Hubble . According to the information disclosed in the announcement at that time, Huawei Hubble invested 300 million yuan in this time. After the investment, it holds 10% of the shares of Xuzhou Bokang. The listed company Chinachem Technology is indirectly held by Dongyang Kaiyang Technology Innovation and Development Partnership (Limited Partnership). Xuzhou Bokang has a 24% stake. Fu Zhiwei directly and indirectly holds 39.43% equity of Xuzhou Bokang through Shanghai Bokang Enterprise Group Co., Ltd., and is the actual controller of the company.