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On the evening of August 14, a number of integrated circuit companies on the Science and Technology Innovation Board disclosed their semi-annual reports, including Haiguang Information, my country's leading CPU chip design company, Amlogic Technology, a leading audio Soc company, and Qizhong Technology, the country's largest display driver chip packaging company.

So far, 15 integrated circuit companies have disclosed their semi-annual reports on the Science and Technology Innovation Board, covering upstream and downstream fields such as integrated circuit wafer manufacturing, design, equipment, IP licensing, and packaging. Benefiting from the continued growth in shipments of smartphones, PCs, and wearable devices, the revenue and net profit of related companies in the first half of the year increased significantly, with year-on-year growth rates exceeding 30%, and the turning point of the semiconductor industry is becoming increasingly apparent.

Among them, Haiguang Information, as the No. 1 domestic x86 CPU company, broke the previous situation where the core technology of high-end processors was only in the hands of a few international leading companies, and the penetration rate of its products in the domestic market has gradually increased. The semi-annual report shows that the company achieved operating income of 3.763 billion yuan in the first half of the year, a year-on-year increase of 44.08%; the net profit attributable to shareholders of listed companies was 853 million yuan, a year-on-year increase of 25.97%. With the increase in market demand and the further improvement of customer recognition of the company's products, the company's main business has achieved sustained growth.

According to the semi-annual report of Jingchen Co., Ltd., a system-level SoC chip company, in the first half of 2024, the company achieved revenue of 3.016 billion yuan, a year-on-year increase of 28.33%; and realized a net profit attributable to the parent of 362 million yuan, a year-on-year increase of 96.06%. Among them, the second quarter achieved revenue of 1.638 billion yuan, a year-on-year increase of 24.53% and a month-on-month increase of 18.82%, setting a new record for single-quarter operating income. The company's new round of growth trend is obvious. In the first half of 2024, the company's T series products continued to achieve important customer and market breakthroughs, with sales revenue increasing by about 70% year-on-year. In addition, Jingchen Co., Ltd. has obtained the first batch of commercial orders after the successful tape-out of the 6nm commercial chip based on the new generation ARMV9 architecture and self-developed edge AI capabilities. Jingchen Co., Ltd. expects that revenue in the third quarter of 2024 and the whole year of 2024 will increase further year-on-year.

The packaging and testing link, which is also close to the terminal market, also shows significant signs of recovery. Qizhong Technology is mainly engaged in advanced packaging and testing of integrated circuits. It currently focuses on the packaging and testing of display driver chips and power management chips, RF front-end chips and other packaging and testing fields. The semi-annual report shows that the company's main revenue in the first half of 2024 was 934 million yuan, a year-on-year increase of 35.58%; net profit attributable to shareholders was 162 million yuan, a year-on-year increase of 32.57%. Since the beginning of this year, the demand for terminal products such as smartphones, tablets, and TVs has continued to increase year-on-year, and the company's sales have increased accordingly. In particular, as mid- and low-end brand mobile phones and tablets and other terminal products have successively adopted AMOLED displays, product penetration has continued to increase, and the company's related product revenue and profit contribution has increased rapidly.

Judging from the performance of semiconductor companies in the A-share market that have disclosed their performance, the overall performance is positive. More than 20 integrated circuit companies in Shanghai and Shenzhen have disclosed their semi-annual reports, with a total operating income of 26.798 billion yuan in the first half of the year, a year-on-year increase of 33.03%; and a net profit of 3.296 billion yuan, a year-on-year increase of 26.00%.

With the recovery of terminal demand such as consumer electronics and the lead of emerging demands such as artificial intelligence, many industry insiders believe that the industry turning point has appeared. The downward cycle of the semiconductor industry that began in the second half of 2022 is expected to bottom out, and the industry's overall profitability will continue to improve, entering a new round of upward cycle.