TCK订单积压创历史新高关键事件
TCK用于半导体工艺的化学气相沉积（CVD）碳化硅（SiC）部件的订单积压达到历史最高水平。积压激增，因半导体制造商增加采购。
原文深度解读
本文报道了韩国半导体零部件供应商TCK的订单积压创历史新高。截至2025年6月底，TCK总订单积压达1993.7亿韩元，环比增长104.7%，同比增长190.4%，主要受半导体晶圆厂利用率提升和设备制造商提前下单推动。核心产品CVD SiC（固态SiC）订单积压达1763亿韩元，占总积压的88.4%。公司产能利用率达96.2%，并计划扩产和新建工厂。文章还提及第二季度营收和营业利润的环比下降及同比上升。该文与电子元器件供应链直接相关，反映了半导体设备零部件需求强劲和供应链订单模式变化。
- TCK总订单积压截至2025年6月底为1993.7亿韩元，较第一季度（973.8亿韩元）增长104.7%，较去年同期（686.6亿韩元）增长190.4%。
- 订单积压增长由半导体晶圆厂利用率上升和设备制造商提前下单驱动，部分订单覆盖六个月或更长时间。
- 固态SiC（CVD SiC）订单积压截至6月底为1763亿韩元，较3月底（818.8亿韩元）增长115.3%，较去年同期（503.1亿韩元）增长250.4%，占总积压的88.4%。
- 固态SiC订单积压从2025年3月底的486.1亿韩元逐步增长至2026年3月底的818.8亿韩元，并在第二季度跃升至1763亿韩元。
- 石墨和LED基座订单积压也分别增长43.2%和84.8%，至192.9亿韩元和37.7亿韩元。
- TCK第二季度营收为948.73亿韩元，营业利润为268.495亿韩元，环比分别下降0.5%和6.0%，同比分别增长30.5%和37.7%。
供应链影响
- TCK订单积压创新高可能表明半导体设备零部件需求强劲，但需注意订单积压可能包含长期订单，实际交付周期可能延长。
- 设备制造商提前下单可能改变供应链的订单模式，影响零部件供应商的生产计划和库存管理。
- TCK产能利用率接近满载，其扩产计划能否按期完成可能影响未来供应能力。
- CVD SiC组件需求增长与晶圆厂利用率相关，若晶圆厂利用率下降，需求可能随之减弱。
- TCK新建工厂的投资完成时间（预计2025年10月）可能影响其满足中长期需求的能力。
系统解读，仅作为判断线索，不构成备货、出货、涨价或投资建议。
TCK总部。
TCK用于半导体工艺的化学气相沉积（CVD）碳化硅（SiC）部件的订单积压达到历史最高水平。随着半导体制造商提高晶圆厂利用率以及设备制造商为未来需求提前下单，积压激增。
根据8月21日提交的DART文件，截至6月底，TCK的总订单积压为1993.7亿韩元，超过其季度产能。该数字较第一季度的973.8亿韩元增长104.7%，较一年前的686.6亿韩元增长190.4%。
增长由半导体晶圆厂利用率上升带来的耗材部件需求增加所驱动。CVD SiC是半导体蚀刻设备腔室内安装的部件（包括电极和环）的基础材料。CVD SiC部件因反复暴露于等离子体而磨损，需要定期更换。随着晶圆厂利用率上升，设备运行时间增加，推动更换需求增长。
客户也在改变订购方式。设备制造商为保障稳定供应而提前下单未来需求，延长了订单交付周期。部分订单现在覆盖六个月或更长时间。此前，大多数采购订单（PO）的交付周期较短，以周或月计。TCK是一家为半导体设备制造商提供部件的市场前部件供应商。
“随着半导体晶圆厂利用率上升，SiC部件需求显著增加，”TCK一位官员表示。“设备制造商也在改变订购方式，提前与供应商分享未来需求以确保供应链稳定。”该官员补充说，“部分数量通过覆盖六个月或更长时间的中期PO订购。”
积压增长由TCK的主要产品固态SiC（即CVD SiC）引领。截至6月底，固态SiC订单为1763亿韩元，较3月底的818.8亿韩元增长115.3%。与一年前的503.1亿韩元相比，积压增长250.4%。固态SiC占总订单积压的88.4%。
积压增长步伐在第二季度加快。固态SiC订单从2025年3月底的486.1亿韩元增至6月底的503.1亿韩元，再到9月底的538.7亿韩元。积压在2025年底升至764.6亿韩元，2026年3月底达818.8亿韩元，随后在第二季度跃升至1763亿韩元。
石墨和发光二极管（LED）基座的订单积压也有所增加。截至6月底，石墨积压为192.9亿韩元，较3月底的134.7亿韩元增长43.2%。LED基座积压同期从20.4亿韩元增长84.8%至37.7亿韩元。
TCK的利用率在第二季度累计达96.2%。为满足增长的需求，公司正在现有设施增加加工设备并扩大产能。它还准备扩大SiC材料的前端产能。
TCK还在建立新的生产基地以满足中长期需求。2022年，公司决定投资256.9亿韩元，在京畿道安城科技谷获得一块45,295平方米的土地用于新工厂。投资流程计划于10月完成。TCK计划在该地建设一座能够处理从SiC材料生产到加工全流程的工厂。
TCK第二季度营收为948.73亿韩元，营业利润为268.495亿韩元。营收环比下降0.5%，营业利润环比下降6.0%。2025年第四季度产生的约80亿韩元收入被递延至2026年第一季度确认，产生了基数效应，导致营收环比下降。同比来看，营收增长30.5%，营业利润增长37.7%。
TCK headquarters.
TCK's order backlog for chemical vapor deposition (CVD) silicon carbide (SiC) components used in semiconductor processes reached an all-time high. The backlog surged as semiconductor manufacturers increased fab utilization rates and equipment makers placed advance orders for future demand.
According to a DART filing on Aug. 21, TCK's total order backlog stood at 199.37 billion won as of the end of June, exceeding its quarterly production capacity. The figure increased 104.7% from 97.38 billion won in the first quarter and 190.4% from 68.66 billion won a year earlier.
The increase was driven by higher demand for consumable components as semiconductor fab utilization rates rose. CVD SiC is a base material for components installed inside the chambers of semiconductor etching equipment, including electrodes and rings. CVD SiC components require periodic replacement because they wear out from repeated exposure to plasma. As fab utilization rises, equipment operating hours increase, driving higher replacement demand.
Customers are also changing their ordering practices. Equipment makers are placing orders in advance for future requirements to secure stable supplies, extending order lead times. Some orders now cover periods of six months or longer. Previously, most purchase orders (POs) had short lead times measured in weeks or months. TCK is a before-market component supplier that provides parts to semiconductor equipment makers.
"Demand for SiC components has increased significantly as semiconductor fab utilization rates have risen," a TCK official said. "Equipment makers are also changing their ordering practices by sharing future requirements with suppliers in advance to secure supply-chain stability." The official added, "Some volumes are being ordered through medium-term POs covering six months or longer."
The increase in the backlog was led by TCK's main product, Solid SiC, or CVD SiC. Solid SiC orders stood at 176.3 billion won at the end of June, up 115.3% from 81.88 billion won at the end of March. Compared with 50.31 billion won a year earlier, the backlog increased 250.4%. Solid SiC accounted for 88.4% of the total order backlog.
The pace of backlog growth accelerated in the second quarter. Solid SiC orders increased from 48.61 billion won at the end of March 2025 to 50.31 billion won at the end of June and 53.87 billion won at the end of September. The backlog rose to 76.46 billion won at the end of 2025 and 81.88 billion won at the end of March 2026 before jumping to 176.3 billion won in the second quarter.
Order backlogs for graphite and light-emitting diode (LED) susceptors also increased. The graphite backlog stood at 19.29 billion won at the end of June, up 43.2% from 13.47 billion won at the end of March. The backlog for LED susceptors rose 84.8% to 3.77 billion won from 2.04 billion won over the same period.
TCK's utilization rate was 96.2% on a cumulative basis through the second quarter. To meet growing demand, the company is adding processing equipment at its existing facilities and expanding production capacity. It is also preparing to expand front-end production capacity for SiC materials.
TCK is also establishing a new production base to meet medium- to long-term demand. In 2022, the company decided to invest 25.69 billion won to secure a 45,295-square-meter site for a new plant in the Anseong Techno Valley in Anseong, Gyeonggi Province. The investment process is scheduled to be completed in October. TCK plans to build a plant at the site capable of handling processes from SiC material production to processing.
TCK posted second-quarter revenue of 94.873 billion won and operating profit of 26.8495 billion won. Revenue fell 0.5% and operating profit declined 6.0% from the previous quarter. About 8 billion won in revenue generated in the fourth quarter of 2025 was deferred and recognized in the first quarter of 2026, creating a base effect that contributed to the sequential revenue decline. From a year earlier, revenue increased 30.5% and operating profit rose 37.7%.