晶圓代工營運績效之個案分析

Abstract

中國大陸是目前全球最大的半導體市場，半導體相關產業的『群聚效應』以及政府政策的積極補助與扶植，帶動中國晶圓代工業的蓬勃發展。本研究運用波特(Michae1 Porter)的「鑽石體系」解構中國大陸晶圓代工產業的競爭優勢以及有那些關鍵因素影響企業競爭能力；再透過從財務構面探討晶圓代工產業公司包含研究公司中芯國際，以及該產業排行第一及第二大之公司台積電和聯電，來分析半導體公司之財務特性及研究公司之財務結構。並透過SWOT分析，透過產業外部環境的機會(Opportunity)與威脅(Threat)及企業內部能力的優勢 (Strength) 和弱勢 (Weakness)，探討中芯國際的競爭優勢。此外，也探討其如何在強力競爭的市場環境下，掌握營運機會，消除主要威脅，發揮自我的優勢及彌補劣勢，以建立競爭優勢，達到持續成長的目標。 本研究結果顯示，中芯國際在中國大陸政府的政策支持下，得以獲得許多金援，加以中國大陸低成本的人力與天然資源，讓中芯國際迅速成為中國大陸第一大之晶圓代工廠。但在快速擴展產能之下，卻也背負龐大的折舊負擔，再加以中國半導體發展較慢，製程技術也發展相對較為緩慢，因此如何降低營運成本、加速研發速度、提生產能利用率，便是目前中芯國際要維持其競爭力最大的課題。

In this study, we applied the Michae1 Porter’s "Diamond System" to deconstruct the competitive advantage of the China foundry industry as well as those key factors influencing the competitiveness of enterprises; through the financial aspects of the foundry industry companies include research company SMIC, as well as the industry ranked first and the second largest company, TSMC and UMC to analyze the financial characteristics of the semiconductor companies and research firm financial structure. Through the SWOT analysis, the industry in the external environment opportunity, the threat, the strength and weakness, we explored the center of international competitive advantage. In addition, we also explored a strong competitive market environment, how to master operating the opportunity to eliminate a major threat to play the advantages of self and make up the weaknesses in order to build competitive advantage, achieve the goal of sustainable growth. The results of this study show that SMIC supported by the mainland China government policy was able to secure financial aid to low-cost manpower and natural resources of China. Under the rapid expansion of production capacity but also strapped with a huge depreciation burden, how to reduce operating costs, accelerate the development of speed, mentioning that the production capacity utilization is SMIC to maintain the competitiveness of the biggest issue.