Jiangsu Changdian Technology Co., Ltd. (referred to as "Changdian Technology") and Jiangsu Changjing Technology Co., Ltd. (referred to as "Changjing Technology") are two semiconductor companies with historical origins but independent businesses. Their relationship can be summarized as "same source separation, complementary development".
1、 Historical origin: From departmental independence to business divestment
Changjing Technology's predecessor was the semiconductor device department of Changdian Technology, mainly responsible for the research and sales of discrete devices such as diodes, transistors, etc. In 2018, Changdian Technology spun off its discrete device self sales business and team to establish Changjing Technology, in order to optimize resource allocation and focus on core packaging and testing business. This adjustment includes transferring the equity of Shenzhen Changdian Technology, a subsidiary of Changdian Technology, to the newly established Changjing Technology, and renaming the "Changdian" brand's discrete components to the "Changjing" brand in 2019 to achieve independent brand operation.
2、 Business positioning: differentiated development path
Changdian Technology: With integrated circuit packaging and testing as its main business, it ranks third in the global market share (reaching 10.3% in 2023) and focuses on high-end packaging and testing technologies (such as Chiplets and 2.5D/3D packaging), serving international top customers such as Apple and Qualcomm.
Changjing Technology: Focusing on discrete devices, power semiconductors, and power management ICs, covering products such as diodes, MOSFETs, IGBTs, etc., the target market is consumer electronics, automotive electronics, and industrial fields, and gradually building a full industry chain capability from chip design, wafer manufacturing to packaging and testing.
3、 Equity and operational independence
Although Changjing Technology originated from Changdian Technology, it has achieved complete independent operation since its establishment in 2018. The actual controller is Yang Guojiang, a member of the original Changdian Technology management team, and has strengthened the integration of the industrial chain through multiple mergers and acquisitions (such as the acquisition of Hyde Semiconductor and Xinshun Microelectronics).
During the initial stage of the divestment, Changdian Technology supported Changjing Technology's transition through consignment sales, but after 2020, the two parties' businesses were completely decoupled and there was no equity connection.
4、 Market synergy and competition
Collaboration: Changjing Technology's discrete device products can provide upstream support for Changdian Technology's packaging and testing business, especially in high growth areas such as automotive electronics, where there is potential for cooperation.
Competitiveness: Changjing Technology is gradually transitioning to the IDM model through the acquisition of wafer fabs (such as Xinshun Microelectronics), forming a complementary industry chain with Changdian Technology's main focus on packaging and testing outsourcing rather than direct competition.
5、 Future direction
Changdian Technology continues to strengthen its position as a global leader in packaging and testing, laying out advanced packaging technologies and international mergers and acquisitions (such as the acquisition of Shengdi Semiconductor in 2024).
Changjing Technology aims to replace domestic power semiconductors and plans to accelerate expansion through IPO, extending into high-end fields such as automotive grade IGBT and third-generation semiconductors.
Changdian Technology and Changjing Technology have a "parent and derivative" relationship, achieving business focus and complementarity through strategic adjustments. The former focuses on global packaging and testing competition, while the latter deeply cultivates the localization of power devices, jointly promoting the improvement of China's semiconductor industry chain.