HHGrace : China’s No. 2 Foundry Company (Hua Hong Grace)
[Posting: April 21, 2025]
China’s second-largest foundry (arguably), HHGrace (Hua Hong Grace Semiconductor), has shown particular strength in legacy processes, especially in the 8-inch (200mm) segment for MCUs (NVM: eFlash). The company has also developed eFlash and BCD processes on 12-inch wafers at 90nm and 55nm nodes, establishing a diverse process portfolio for consumer, industrial, and automotive applications.
Primarily targeting the Chinese domestic market and supported by government subsidies, HHGrace enjoys strong wafer price competitiveness. The company is actively transferring its process capabilities from 8-inch to 12-inch production to meet rising local demand, focusing on aggressive FAB construction and technology development. While slower than SMIC in developing advanced nodes, HHGrace is firmly recognized for its technological strength in derivative processes. It plays a key role in China’s semiconductor ambitions and is committed to in-house process innovation.
🇨🇳 Chinese Foundry: HHGrace (Hua Hong Grace)
🏭 HHGrace Semiconductor 2024 Corporate Analysis Report
China’s Leader in Mature Node Foundry – A Complete Breakdown of HHGrace
1. 📌 Company Overview
Item | Details |
---|---|
Company Name | HHGrace (Hua Hong Grace Semiconductor) |
Founded | 2003 |
Headquarters | Shanghai, China |
Core Business | Foundry specializing in 8"/12" legacy nodes |
Main Customers | Automotive, Industrial, Consumer Electronics |
2. 💰 FY 2024 Financial Performance
Metric | Value |
---|---|
Annual Revenue | $2.0 billion |
Net Income | $87.76 million |
EBITDA | $448.3 million |
Total Assets | $12.1 billion |
Total Liabilities | $2.2361 billion |
EPS (Earnings/Share) | $0.04 |
Gross Profit Margin | 21.3% |
3. 🧪 Production Capacity & Utilization
Facility (Location) | Wafer Size | Monthly Output | Utilization (Q1 2024) |
---|---|---|---|
FAB1~3 (Shanghai) | 8-inch | 178,000 wafers | 100% |
FAB5~6 (Wuxi) | 12-inch | 95,000 wafers (expanding by +83,000) | 84% |
4. 🧭 Process Nodes & Technology Portfolio
HHGrace specializes in legacy nodes, offering a range of differentiated process technologies:
Node | Application Fields | Notes |
---|---|---|
130nm | MCU, Analog, Power Management | High reliability, Low power |
110nm | Display ICs, High Voltage Analog | TDDI and other display-related chips |
90nm | eFlash, Mixed-signal | Industrial memory |
55nm | High Voltage, BCD, CIS Sensors | Automotive power chips, image sensors |
✅ While HHGrace lacks cutting-edge node competitiveness compared to TSMC and SMIC, it holds strong positions in high-value specialty processes.
5. 🧭 Technology Roadmap (2024–2026)
Key development areas:
-
Expansion of 12-inch BCD process (based on 55nm/90nm)
-
Optimization of embedded NVM (eNVM) for sub-90nm nodes
-
Enhanced HV analog/digital SoC processes
-
Preparation for SiC and GaN power semiconductors
High Voltage (HV) process for power semiconductors:
-
Strengthening lineup: IGBT, LDMOS, SJ-NFET
-
Expanding adoption in automotive electronics and industrial power converters
6. 🧩 Specialized Application Areas
Sector | Specific Applications | Core Technologies |
---|---|---|
Automotive | Power management, ECUs, sensors | BCD, IGBT, HV-LDMOS |
Industrial | Control MCUs, sensors | 90nm eFlash, Analog |
Consumer | Displays, IoT | 110nm, 55nm BCD |
Smart Metering | Chipsets for meters | HV processes, EEPROM |
7. 👨💼 Employee Salaries & Benefits
-
Total Employees: ~4,000
-
Average Salary:
-
General engineers: RMB 150,000 ~ 300,000 (approx. KRW 30M–60M)
-
Senior R&D: RMB 350,000+
-
-
Benefits: Housing subsidies, family insurance, performance bonuses, in-house cafeteria, etc.
🔍 Final Summary
While HHGrace falls behind TSMC and SMIC in cutting-edge process competitiveness, it stands out in the specialty foundry sector for mature 8"/12" nodes. With strengths in 130nm to 55nm BCD, HV, and eFlash technologies, HHGrace is becoming a core supplier in the automotive and industrial semiconductor markets. Future growth is expected through 12-inch line expansion and increased investment in power semiconductor technologies.