My Age of Investment

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"I didn't mention it, I just said that they will do their best to help Fuxing Semiconductor become a high-tech industrial group with a complete industrial chain and international competitiveness within the next four years, and become a Fortune 500 company!"

Deng Yuanjun looked at Xia Jingxing with a strange smile.

In order to get Modu Industrial to give up Dahan Telecom, which was also a state-owned capital, the boss sold the equity of Huaxin International to Fuxing Semiconductor, which was a huge investment.

One of the most important ones is the signing of an investment memorandum with the Magic City government, promising to invest tens of billions of dollars in Magic City within the next five years, indirectly driving hundreds of billions of GDP.

The bullshit has been blown out, but the Shanghai Municipal Government has always kept it in mind.

The original agreement period was five years, but this year, this time has been shortened to four years.

Xia Jingxing smiled and said, "Although I didn't mention it or urge it, they all remembered it in their little notebooks.

There is also the matter of the Top 500. I was just talking about it, but they actually took it seriously. "

Deng Yuanjun said: "You have told the media that Renaissance Semiconductor will enter the Fortune Global 500 within ten years and before 2018.

Although you don’t own a Fortune 500 company, no one takes your words as a joke. "

Xia Jingxing remained silent, digging too many holes for himself.

Investing 10 billion US dollars in Magic City is enough. It is not easy for Fuxing Semiconductor to enter the world's top 500 companies.

It is very easy for Fuxing Industrial to enter the Fortune Global 500. It has only happened in the past one or two years.

However, Fuxing Semiconductor Technology is relatively backward and has basically no overseas market. It designs, manufactures, and packages and tests only mid- to low-end chips.

Under the current revival of the semiconductor industry system, SoC system-level chip design centers have been established in Beijing and Silicon Valley. However, the research and development progress is slow, and no official product has been launched yet.

Spreadtrum Communications is also a chip design manufacturer, but its market share, industry status, and technology mastery are far behind Qualcomm and MediaTek.

In addition, there is a chip manufacturing factory in Magic City, which Liang Mengsong is responsible for managing. It has stably mass-produced chips, but it is far from competitive, and the yield rate is not high. Because it has not mastered the high-end manufacturing process, it is now unable to even accept orders for its own mobile phone chips.

Huaxin International has not yet merged into Fuxing Semiconductor System because the lawsuit with Gulf Power has not yet been officially concluded, and it is worried about causing new patent disputes.

But even if it is incorporated, there are still deficiencies in the mastery of high-end process technology.

As for the last of the three main links in chip production and manufacturing - the packaging and testing company, it was originally just an empty shell, but has recently begun to recruit employees for business.

The best and fastest solution is to acquire a mature chip packaging and testing company.

Generally speaking, Fuxing Semiconductor Group's business, technology, and personnel are still in disarray at present, and a major round of integration is needed to form combat effectiveness.

But the layout of IDM has taken shape, and all that's left is to tinker with it and start anew.

There are still nine years left to achieve the set goal, and Xia Jingxing does not believe that he will not be able to complete it.

In the previous life, after the National Integrated Circuit Industry Fund entered the industry, China's semiconductor industry has made great progress, but the progress has mainly been made by Fabless chip design manufacturers, and IDM manufacturers have basically made no major breakthroughs.

The reason for this is related to the fact that IDM manufacturers have a large investment in construction and a long cycle, and it is best to control the sales of terminal products.

Chrysanthemum manufacturers have a great career, but they also dare not develop in the direction of IDM. This is an industry that costs hundreds of billions and requires a gamble on life.

Finally, even if you become an IDM manufacturer, you will still face a lot of thorny problems.

Most of the EDA software required for chip design, the equipment required for chip manufacturing, and the materials required for chip packaging and testing are all dependent on imports. It is completely impossible to achieve 100% localization.

For example, a Asmail photolithography machine has more than 100,000 parts and components, involving more than 5,000 suppliers, of which American companies account for 27%.

At a time when the global industrial division of labor is becoming increasingly clear, it is completely impossible for Fuxing Industrial to establish 5,000 companies and make these companies the best in the industry.

We can only expand the width and thickness of the industrial chain we can control little by little through investment.

When enough of these basic "specialized, special and new" small companies develop, the bottleneck problem can be completely solved.

Even so, it is not 100% localization, but an increase in the voice of China's technology industry, which can achieve a mutual check and balance effect.

Xia Jingxing stopped talking to Deng Yuanyun and silently thought about the difficult road ahead.

Although it is quite disappointing, I cannot give up.

He has always believed in the development principle of "If you do it, there may be something, but if you don't do it, there will definitely be nothing."

Of course, this is the confidence given to him by his huge assets.

If he hadn't invested in so many unicorn companies and would go to the secondary market to make a fortune from time to time, he wouldn't have the firm belief he has now.

Capitalists have spent their whole lives working hard to accumulate their family fortunes, but some are willing to gamble on them.

The car soon arrived at Zuchong Road in Zhangjiang High-tech Park.

Spreadtrum Communications is located in an office building next to this avenue commemorating the famous ancient mathematician.

As soon as Xia Jingxing and Deng Yuanyun stepped out of the car, they saw a group of Spreadtrum Communications executives waiting to greet them at the door.

Deng Yuanjun was responsible for the introduction, while Xia Jingxing shook hands with the group of people one by one with a smile on his face.

The person who led the team to greet him was a middle-aged man with slightly bald hair named Li Liyou, who was the newly appointed CEO and president of Spreadtrum Communications.

"Li You has a PhD in electrical engineering from the University of Maryland. He has worked in major companies such as Ericsson and Broadcom and has extensive experience in mobile phone chip research and development and market development.

Even though he is a doctor who has returned from overseas, he is actually very down-to-earth.

The company's business was not doing well during this period, so he, the CEO, personally led a team to sweep the streets in Huaqiangbei. He squeezed into a cubicle of 20 to 30 square meters and chatted with customers for several hours. "

Faced with Deng Yuanjun's praise, Li Liyou acted very modestly and down to earth.

“Spreadtrum Communications is positioned in the low-end chip market, and merchants in Huaqiangbei are all our target customers.

I often tell everyone that the core competitiveness of Chinese IC companies is to endure hardship and stand hard work.

In terms of technology, we are not as good as others. If we are still unwilling to endure hardship, then we will really have to eat dirt. "

Li Liyou was quite humorous and made everyone present laugh.

Xia Jingxing looked at Li Liyou with a smile, he was quite interested in this person.

In the previous life, the other party took over Spreadtrum Communications from Wu Ping. It could be considered that he was given the task when the army was defeated and was ordered to be in danger.

However, after Li Liyou's drastic reforms, Spreadtrum Communications quickly got rid of losses and developed from a small factory with an annual revenue of only a few hundred million yuan to the second largest chip design factory in China after HiSilicon, ranking among the top ten chips in the world. Design business.

Of course, this is inseparable from the financial capabilities of Ziguang Group and its acquisition of Ruidike, but Li Liyou's talents are also worthy of recognition.

After a while of greetings, Xia Jingxing and Deng Yuanyun followed Li Liyou to visit Spreadtrum Communications.

“The company has been supported by low-end GSM and GPRS services and transfusion TD business.

Recently, MediaTek, Morningstar Semiconductor and RDA have launched a new round of price war, shipping products at cost price or even lower than cost price, which is constantly shrinking our market share.

Fortunately, 3G licenses have finally been issued, and the TD market has finally seen the light of day.

This month China Mobile gave us a TD-SCDMA R\u0026D contract worth RMB 90 million, requiring us to design a baseband chip with better performance based on the original TD chip. "

Li Liyou introduced Spreadtrum Communications' business situation to Xia Jingxing while walking.

Spreadtrum Communications' main business is baseband chips, which are divided into 2G/2.5G/3G (GSM/GPRS/TD-SCDMA) segments.

In the past few years, the 3G business has been all about investment but no output, which has seriously dragged down Spreadtrum's financial statements.

The GSM and GPRS businesses have been Spreadtrum Communications' profitable businesses in the past few years. They also support Spreadtrum but are now facing a serious impact from MediaTek.

MediaTek once occupied 90% of the market share in mainland China, leaving only some leftovers for Spreadtrum.

Due to the need to make a living, Li Liyou, a dignified CEO of a US-listed company, could only accompany the owner of a copycat mobile phone manufacturer in Huaqiangbei to drink wine, soak his feet and wash his feet in a sauna, call each other brothers, and earn some hard-earned money by sinking into the market.

Nowadays, Spreadtrum Communications has pinned all its hopes on the TD standard. If it cannot make a good turnaround with the help of this domestic communication technology, the next step will be very dangerous, because the original old business is being cannibalized by MediaTek, step by step. Press.

Deng Yuanjun asked: "What process technology is planned for TD chips?"

Li Liyou answered flatly: "40 nanometers."

Deng Yuanyun smiled bitterly, and then looked at Xia Jingxing, who also smiled helplessly.

This is the situation. The current business of Fuxing Semiconductor, the parent group Fuxing Industrial, and even its subsidiaries are all separated. Most of the process technologies do not match, so orders can only be pushed out.

Li Liyou noticed the helpless smiles of the two people, and instantly understood something, and said quickly: "Mr. Xia, Mr. Deng, this chip is still under research and development, and it is estimated that it will not be launched until next year.

There is still time in the meantime. The manufacturing plants of Huaxin and Fuxing Semiconductor can rush to see if they can improve the process technology to a higher level. "

Deng Yuanjun smiled and shook his head, "Fuxing Semiconductor's factory currently only masters 90-nanometer technology. Huaxin mass-produced 90-nanometer products in the past two years, and should be able to mass-produce 65-nanometer and 55-nanometer products this year.

As for 45 nanometer and 40 nanometer, it is estimated that next year will be suspended, and it may have to wait until the year after that. "

Li Liyou said with some embarrassment: "Mobile will need it next year! If we can't deliver it on time, we will breach the contract."

Deng Yuanjun waved his hand, "It's okay, that's not what I meant, I just meant that our manufacturing process is seriously lagging behind the design process.

Not only your baseband chips, but also the mobile phone system-level chips designed by Renaissance Semiconductor. "

The two of them glanced at Xia Jingxing secretly and found that the other person's face was not very good-looking and seemed a little angry.

Xia Jingxing did feel a little angry. Not to mention that Liang Mengsong had just started. Huaxin International, led by Zhang Rujing, had yet to end its patent lawsuit with Gulf Power, which led to delays in industrial integration.

They all rely on Wandian and Zhang Zhong!

Xia Jingxing cursed a few words in his mind, and then said to the two of them, "Let's fight on our own for the time being. Don't worry about who to take care of."

Li Liyou felt relieved. He was afraid that Xia Jingxing would give random orders. If he lost his market share, it would not be easy to catch up again, and it would be useless to burn money.

Deng Yuanyun sighed slightly in his heart. The development path of Renaissance Semiconductor is destined to be extremely bumpy.

Li Liyou then reported: "When Wu Ping was in office, the company developed a 2.5GGSM communication standard SC6600L chip using a 152nm process technology. This chip will begin mass production in the near future.

The orders for this business can be entrusted to Huaxin International, and they can easily take them. "

Xia Jingxing's eyes lit up, this was a "magic core"!

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