半导体自主可控2024年&2025Q1总结：国产替代纵深推进，先进攻坚正当其时

中航证券2025-05-26

（以下内容从中航证券《半导体自主可控2024年&2025Q1总结：国产替代纵深推进，先进攻坚正当其时》研报附件原文摘录）报告摘要晶圆代工：国内FAB短期承压，不改自主可控长线逻辑晶圆代工厂业绩分化，台积电先进制程产能的头部效应凸显，1-4月总收入11888.2亿新台币，同比+43.5%。中国大陆代工双雄中芯国际、华虹半导体产能利用率维持高位，但成熟制程面临价格压力，业绩和指引不及预期。中芯国际...

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