$Taiwan Semiconductor Manufacturing(TSM)$
I have a friend who works at a semiconductor factory, a medium-sized FAB. To maintain operations without any production, it costs approximately $1 million per day. Now, let's conservatively estimate it at 5 million RMB per day. For it to be profitable, the factory utilization rate must be at least 80%, and the yield rate must be above 90%. Last year, half of the world's semiconductor equipment was supplied to China. One can imagine what the future utilization rate of Chinese semiconductor manufacturers might be—thinking about it is terrifying. Semiconductor factories can burn through money much more fiercely than photovoltaic manufacturers.
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