探討兩岸封測業之競合及從財報分析角度檢視其經營績效–以日月光與長電科技為例

Abstract

台灣的半導體產業具有專業分工、上下游垂直整合，形成一條龍的供應鏈優勢，使封測業在全球排名第一，但全球市占率卻呈現成長趨緩的現象，反觀中國大陸封測業，卻呈現倍數成長，故本研究係以個案SWOT分析來剖析台灣及大陸封測龍頭廠商之競爭優、劣勢並探討個案公司未來競合之可能性與策略，再從財報分析角度檢視個案公司之經營績效。 分析後發現，以人力、研發技術與高階產品製程技術上，日月光優於長電，而長電擁有國家資金支持、政策優惠、稅務補貼、高資本市場本益與產業自主供應鏈政策下在產業合作上，相較於日月光有絕對優勢，另日月光在營業規模、財務結構、獲利能力與經營績效上皆優於長電。兩個案公司具有互補與合作的空間及誘因。

This study is based on case SWOT analysis to analyze the competitive advantages and disadvantages of Taiwan and the mainland leading manufactures of packaging and testing and to explore the possibilities of competitive strategies. From the perspective of earnings analysis of invividual companies operating results found that the human resource, R & D technology and high-end product process technology, the ASE is better than the JCET. On the other hand, the JCET with national financial support and high capital market benefits has an absolute advantage compared to the ASE. The two companies have complementary and collaboration space cooperation.