Focus on and enhance dielectric etching equipment technology
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The Chinese government's long-term support for the IC industry has greatly encouraged us. At present, the Chinese government is investing heavily in the semiconductor industry and has introduced a series of policies to support investment in the industry. In the next 10 years, this policy will still be reflected in many aspects, including the development of local manufacturing, as well as attracting companies like Intel and Hynix to invest in China.
Such continued investment will prove to be sensible, because China will not only be the consumer market for semiconductor devices, but also should have a place in the key links of the IC industry chain. Zhongwei Company is such an example. At present, China consumes 28% of global IC production, which is predicted to continue to rise.
At the right time, in the right place, and launching the right product is the key to the success of China Micro. Since the first time the company has presented its products to the public at the "SEMICONChina2008" exhibition, we have achieved a lot of achievements. Our products have attracted more and more attention - our PrimoDRIEEtch equipment has been concerned by several leading semiconductor chip manufacturers. In the field of dry etching, the excellent performance of the PrimoDRIEEtch device even exceeds our expectations. As a result, four Asian chip manufacturers have installed the device. It is predicted that the annual sales of dielectric etching equipment will be between $2 billion and $3 billion, so we will focus on the technology in this field. As the customer's technology nodes advance to 40nm-30nm, we will strive to improve equipment performance while improving equipment consistency and repeatability. From the feedback of customers, PrimoDRIEEtch equipment is very competitive, and the cost is very low, and the technical advantages are also obvious. We already have unique intellectual property rights, which allows us to take the lead in today's global IC manufacturing plants and future Chinese IC manufacturing plants.
From a financial perspective, we have had a very successful year. We completed a $58 million Series C financing and added several powerful investors. Of course, we are also very concerned about the trend of the global economy. We strive to save cash and control the scale of the company under the existing business model. In 2009, we have already made a good start. We hope that the global economy will pick up this year, and we firmly believe that we have sufficient resources to continue to innovate so that our products can meet the needs of chip manufacturers to improve their manufacturing processes. 