1991 Starting from the core

Since Chen Jing and Chen Jianguo were at the same time, the two groups of people took the same flight back to avoid Su Yuanshan having to pick them up twice. But this time there were so many people, Su Yuanshan simply chartered a bus and took them back directly from the airport.

After getting on the bus, Chen Jianguo and others insisted on seeing how their "new home" was doing. Su Yuanshan couldn't resist, so he had to take them to the Yuanxin Technology Park.

Su Yuanshan turned his head and looked at Chen Jianguo, who was getting calmer and even a little fatter, and said with a smile: "Brother, why do I feel that you have gained a little weight?"

"Really?" Chen Jianguo glanced down at his belly and said with a wry smile, "It's over. When you told me, I realized that I seemed to have gained a little weight."

Chen Jing smiled in front and took over: "That's because there are so many delicious foods on our island."

She sat in the passenger seat, took out a cassette tape from her pocket and put it into Hu Touben's tape player, then raised the other two cassettes and asked Wilson Su: "Do you want it? Jimmy Lin and Chen Mingzhen's new album."

"Leave it in the car and I'll listen to it on my way to and from get off work."

Chen Jing nodded, put the two cassettes into the glove box, and the car tape player also started playing Jacky Cheung's album.

…

It was already seven o'clock in the evening after walking around the science and technology park before returning to the city. Su Yuanshan simply took Qin Weimin and a group of people who had been waiting downstairs to hold a welcome banquet.

After dinner, Qin Weimin went to arrange accommodation for Chen Jianguo, while Su Yuanshan followed Chen Jing to her room.

"How is it?" Su Yuanshan asked impatiently after closing the door.

"Can you let me wash my face?" Chen Jing glared at Su Yuanshan.

"Uh... wash, wash. It's okay to take a shower." Su Yuanshan chuckled, ran to the sofa and sat down.

Because it was a leap month this year, the weather had already become cold. Chen Jing took off her short windbreaker and walked into the bathroom wearing only a long-sleeved sweater.

She took off the light makeup on her face and said while drinking water: "In addition to TI and AMD that you have already contacted, UMC, IBM, NEC, and Qualcomm are all interested."

The intention here naturally refers to the financing operation of Yuanxin EDA after it becomes independent - to be precise, it is not financing, but the purchase of the shares transferred by Yuanxin.

Chen Jing gently wiped off the water droplets on her face with a towel, revealing her tender skin. She walked out of the bathroom, looked at Su Yuanshan and said with a smile: "But what's more interested are the big guys on Wall Street. Several big investment banks have heard some rumors." Just hang around me every day.”

"Haha, what a beautiful idea!" Su Yuanshan pursed his lips: "Where's Intel? Have you contacted them?"

"After contacting us, Intel has already planned to give up on us - now our peers are also making efforts to compete with us for campus customers. There have also been several forum activities and the spread of the Internet, plus various design IPs based on FarCore EDA are constantly It's hard for them to catch up with our influence in the industry. To completely defeat our peers, all that's left is a disruptive change - do you have any other tricks? It's just one trick away."

Su Yuanshan didn't know whether to laugh or cry: "Sister, do you really think I'm a child prodigy? I've already sent EDA out. What other tricks do you think I have?"

"Then there is only pure commercial competition, but for now we are still the big winner, and more than 60% of the overall market is definitely available. As long as there are no black technologies on the other side, it will be stable."

"Well. The main thing is...money." Su Yuanshan pursed his lips and looked at Chen Jing: "Wall Street will definitely give a valuation. How much do they estimate?"

"The valuation of EDA alone is not high, only 6 billion, but the valuation of Yuanxin as a whole is higher - guess how much?" Chen Jing winked at him, revealing her dimples that she had not seen for a long time.

Su Yuanshan shook his head: "I don't guess. No matter how high it is, it's useless. The main body of Yuanxin does not plan to go public. In other words, at least it is not considered now."

Chen Jing shrugged.

Su Yuanshan sighed: "It's only six billion..."

"If you want more, seek listing and let the capital market test it." Chen Jing said: "It is difficult for mainland companies to be listed on Nasdaq. They can choose to backdoor and list in Hong Kong. After half a year, they can sell their equity and cash out. And they can also sign in advance. Subscription agreement - anyway, as long as the capital market approves it, you can do whatever you want."

Su Yuanshan said in surprise: "Just half a year?"

"Well, just half a year - you don't know?"

"Why do I need to know this?"

Su Yuanshan closed his eyes and meditated on the sofa with his briefcase on his pillow.

He still has 500 million US dollars in hand, which will be used for basic investment and development costs in scientific research this year and next year. But starting next year, he will start preparing money for the fab.

But the problem is that the last few years have been a period of growth for the semiconductor industry after it experienced a downturn. Various fabs are desperately trying to expand their production capacity. Coupled with inflation, the costs of the fabs are also rising. .

Su Yuanshan made a rough calculation. To build an eight-inch, 0.5-micron production line plus packaging and testing, the cost alone would cost one billion US dollars.

And Su Yuanshan obviously cannot introduce just one - he needs to seize this once-in-a-lifetime opportunity and build at least three 0.5 micron production lines!

You know, 0.5 micron can be used forever - it can handle almost all small chips and microcontrollers.

In addition, Su Yuanshan also needs to support CPU design, communication design, and make persistent efforts to build a R\u0026D center.

If EDA can only be sold for US$3 billion, that is far from enough.

"Why don't you use a joint venture model when building the factory?" Seeing Su Yuanshan getting entangled, Chen Jing suggested, holding her shoulders.

"Joint ventures are not enough. I have calculated that we need to have at least 5 billion U.S. dollars in revenue in the next year. Starting from next year, we will invest more than 500 million dollars in R\u0026D, and we have to double our investment every year to be able to grow in the market." Existing fields are barely gaining a foothold.”

Chen Jing put on her clothes, stared at Su Yuanshan's frown, and said with a smile: "What you said makes sense, as if other businesses are no longer profitable."

"Of course it is profitable, and it will continue to be very profitable, but expansion is more expensive." Su Yuanshan opened his eyes and said with a wry smile: "I also want to build R\u0026D centers in Europe, Mao Xiong, the west, and Ni Country. …”

"You..." Chen Jing sighed: "Are you too ambitious? How can you build a global R\u0026D center in three to five years?"

“But even if the pace of research in R\u0026D centers around the world is slowed down, there is still a big spender waiting in the wings.”

As Su Yuanshan said, the phone rang behind his head. He took out his mobile phone and pressed the button to connect.

On the phone, Zheng Zhenchuan's voice sounded a little lonely.

"Xiao Su."

Su Yuanshan was slightly startled: "Well, Uncle Zheng, what's wrong?"

“The project was approved in principle, but the funding was too small.”

Zheng Zhenchuan let out a long sigh: "Not to mention Nikon and Canon in Niguo, they invest US$400 million or US$500 million a year. Even a small player like ASML can invest US$200 million to US$300 million every year."

"Together, we can't get more than 100 million, and the bulk of it is still in the light source part, while 908's money has already been scattered."

Zheng Zhenchuan's voice sounded very frustrated: "The main reason is that Zhongyang is financially poor. A purely scientific research unit like ours is not like a school, and we can also get some local financial subsidies."

Su Yuanshan knew why.

——Last year, the central government’s fiscal revenue was 90 billion yuan, with a deficit of 20 billion yuan.

The local fiscal revenue is 220 billion.

This huge disparity directly led to the subsequent implementation of the tax-sharing reform.