My Age of Investment

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After inspecting Spreadtrum Communications, on the way back, Xia Jingxing chatted with Deng Yuanjun about Zhang Xuezheng again.

"I want to give Zhang Xuezheng a chance!"

Deng Yuanjun looked at the boss with a puzzled face, not knowing what opportunity he was talking about.

“I want Honor Mobile to place an order with Wingtech and design a smartphone for us priced under a thousand yuan.”

Deng Yuanjun shook his head repeatedly, "Mr.

Besides, Honor hasn’t even launched a mobile phone yet, so it has no brand value.

It’s almost as good as placing an order with Fuxing Mobile! "

Now it was Xia Jingxing's turn to shake his head, "Fuxing Mobile cannot engage in ODM. It is positioned as a high-end mobile phone. The pursuit of excellent performance is the first priority. How can it be possible to fake the design by others?"

With the exception of Wisdom Fruit, mobile phone manufacturers including Samsung and Juhua Factory basically adopt a development model of self-developing high-end flagship mobile phones and outsourcing mid- to low-end mobile phones to ODM manufacturers.

"That guy Zhang Xuezheng is quite capable. I remember you discovered him, right?"

A smile appeared on Deng Yuanjun's face, "At that time, I went to Longqi to discuss investment, but was declined.

A friend told me that there was a pretty good young entrepreneur and asked me if I wanted to meet him.

After I met Zhang Xuezheng, I felt that their small team was quite good. Although they had no money, the team's cohesion and combat effectiveness were very strong.

So when I came back, I convinced you to invest US$100,000 for 20% of the shares.

Looking at it now, this investment is well worth it.

Wingtech is not an Internet company, but its valuation growth is no less than that of ordinary Internet companies.

In just four years, the company has grown from 100,000 yuan to a large industrial company with a factory worth 80 million US dollars.

Zhang Xuezheng is a very courageous person, and he is also very good at sizing up the situation. "

Xia Jingxing nodded, agreeing with Deng Yuanjun's evaluation of Zhang Xuezheng.

In fact, the transformation from IDH to ODM manufacturer was only the first leap in Zhang Xuezheng's life.

Next, he will lead Wingtech Technology Shetonxiang to acquire Nexperia Semiconductor, setting the largest semiconductor acquisition in China.

There are many labels and concepts attached to Wingtech Technology in previous lives, including China's only world-class IDM (integrated component manufacturer) semiconductor company, automotive grade automotive semiconductor company, the largest analog circuit semiconductor company, the world's first ODM company, and... Enter the smart fruit industry chain, Tesla industry chain...

Zhang Xuezheng is a leader among entrepreneurs in terms of capital operation, trend judgment, and upstream and downstream integration of the industrial chain.

When IDH's dividends were about to run out, it made a big bet on transforming into an ODM manufacturer; when smartphones couldn't be sold and growth peaked, it made a big bet on semiconductors; and when 5G and new energy vehicles appeared at the dawn of time, they began to actively make layouts again.

On Zhang Xuezheng's successful entrepreneurial journey, we can clearly see the epitome of China's industrial upgrading.

This guy has stood on the forefront time and time again, with courage, determination, and judgment that few can match.

Xia Jingxing admires this kind of entrepreneur who is eager to expand.

At the same time, he estimated that if development continues at this pace, Wingtech Technology will become a heavyweight partner of Fuxing Industrial and Tesla in the future, so he will not hesitate to support Zhang Xuezheng.

He alone cannot lead China Semiconductor, so he needs to find more like-minded people.

Thinking of this, Xia Jingxing said: "Let's bring together the companies invested by the two major funds, the Mobile Phone Industry Investment Fund and the Fuxing Industrial Industry Investment Fund, for a meeting. What do you think?"

Deng Yuanjun quickly realized what Xia Jingxing wanted to do and blurted out: "Integrate resources?"

"Yes, we will provide greater support to entrepreneurs who have synergies with Fuxing Industrial's various businesses, are willing to obey our arrangements, and hope to make a big splash in the consumer electronics and semiconductor industries."

Deng Yuanjun had some doubts in his mind and reminded: "Will it be considered an abuse of market dominance?"

Xia Jingxing frowned, "How can you say that? The size of Fuxing Industry has not reached that level yet."

Deng Yuanjun shook his head, "But it will be different with the Fuxing Industrial Fund. Who dares not to obey the arrangements of the Fuxing Industrial Group."

“I just want to deepen the relationship between Fuxing Industrial’s business units and invested companies, and promote cooperation between invested companies and invested companies.

For example, as ODM manufacturers, Huaqin and Wingtech are different from pure OEM manufacturers. They have a certain say in the supply chain.

When they purchase mobile phone parts, if they tilt slightly towards Fuxing enterprises, can they accelerate the growth of Fuxing enterprises, or the growth of China's mobile phone industry chain and semiconductor industry chain?

Our role here is not to dominate the market, but to facilitate the growth of China's science and technology.

If you want to achieve the highest possible level of domestic substitution in certain technological fields, it is only the most basic to provide development funds. You must also give them orders and let them take part of the market share. Only in this way will a virtuous cycle be born. "

Seeing the serious look on his boss's face, Deng Yuanyun didn't know what to say, Minister of Private Science and Technology? I worry a lot about China’s science and technology industry.

"Mr. Xia, the trading behavior between companies is beyond our control. The determining factors are the price, quality, etc. of the product."

Deng Yuanjun spread his hands and looked helpless.

He understands the boss's anxiety, but technological progress requires time and brutal market competition. The boss is almost turning back the clock on what the economy is.

Xia Jingxing smiled bitterly and said: "I know that we cannot decide the cooperation between the invested companies. At most, we can decide the cooperation between these companies and Fuxing Industry.

However, we can build a communication platform to support start-up and difficult companies as much as possible.

Especially for those industries that are still blank in China or whose technology is weak, if you don’t use it or I don’t use it, then it’s a waste. The company will die before it develops. "

Deng Yuanyun thought about it. The boss's concerns were not unreasonable.

This is indeed the case in some industries. It is useless to just build cars behind closed doors and spend money on research and development. You have to occupy a certain market share and carry out technical verification and improvement by putting products into the market.

This is like theory and practice must be combined to achieve the effect of continuous improvement.

“For example, in terms of EDA electronic design automation software, there is currently no decent company in China. The three American giants, Synopsys, Cadence, and Mentor, have almost monopolized the EDA market.

If you are not allowed to use their technology, it will be useless no matter how advanced your chip design is, because you have no drawing tools. "

Xia Jingxing sighed, EDA software can be classified as industrial software, and this entire industry is China's weakness.

Germany and the United States, as traditional industrial powers, are very strong in this field.

The development of Industry 4.0, Industrial Internet, and smart manufacturing cannot avoid industrial software, because it is the soul.

For example, the manufacturing of the Boeing 787 uses more than 8,000 industrial software, of which only 1,000 are commercial software on the market. The other 7,000 software are the essence of technology accumulated by Boeing over decades and are not sold to the outside world.

The largest industrial software company in the United States is not Microsoft, Oracle, or IBM, but Lockheed Martin, which is also the world's largest arms dealer.

As a century-old industrial giant, Siemens’ industrial software technology is also among the best in the world. It has provided solutions for many of the world’s top technology projects, including the European Large Hadron Collider, the world’s largest particle accelerator, and the Curiosity Mars rover.

Xia Jingxing has been thinking about this problem recently. Fuxing Industrial is big, but it leaks everywhere and lacks some adhesive to fill the gaps.

Just like the Chinese Internet, it is strong in the application layer and weak in the underlying architecture. It is all drawn on paper provided by others.

If other people stop selling paper one day, no matter how good your painting skills are, you won’t be able to paint.

Deng Yuanjun sighed: "In the 1990s, there was a Panda EDA in China, but it was a pity that it did not develop under the trend of "making is worse than buying".

Entering the new century and after joining the WTO, China has introduced a lot of high-end equipment, but such purchases are often accompanied by bundled sales, where hardware and software are purchased together, causing the road for domestic industrial software to become narrower and narrower.

Industrial software needs to be matured through extensive use. Once it is rarely used, the product experience will gradually become disconnected from market demand until no one uses it at all.

Now the technological gap is getting wider and wider. If we don't catch up, we will really have to stay at the middle and low end of the global industrial chain division of labor. "

Xia Jingxing nodded, "I'm wondering if we should invite some university professors to attend the meeting and ask them to help us sort out a list.

Which industries and technologies are weak, we will take appropriate measures. "

"This is acceptable!"

Deng Yuanyun smiled and said: "The domestic nuclear high-tech projects announced last year included EDA, which shows that the country has noticed these technical weaknesses.

We can even communicate with the relevant departments. The data they have is more detailed than ours. "

Xia Jingxing has completely made up his mind. If he has any difficulties, he should go to the country!

Despite the serious brain drain, many official organizations still have a large reserve of top talents.

Gather the scientific and technological forces across the country to conduct a diagnosis of Fuxing Industry to see where it needs to be strengthened while keeping pace with the country.

"I heard that Liu Weiping, the core backbone of Panda EDA and now the general manager of Huada Electronics, left the system and started his own business. It seems that he wants to make high-level domestic EDA software."

As soon as he heard BGI, Xia Jingxing knew which company it was, BGI Jiutian, the future domestic EDA leader.

"You can invite him to attend the meeting together. EDA and even the entire industrial software are a tough nut for us to gnaw on next.

Especially for EDA, Fuxing Semiconductor and the chip design companies we invest in must take the lead in using it first. Otherwise, when the avalanche breaks out, no one can escape and they will all be buried underground. "

Deng Yuanjun asked again: "Mr. Xia, what is the name of our meeting? What is the theme?"

"Let's call it "Into the Core Era". The main content is to discuss how to better make the company bigger and stronger.

At the same time, the Renaissance Industrial Fund also officially responded to the outside world and announced our investment direction and scope, including but not limited to chips.

Industries such as industrial software, robots, industrial machines, new materials, new energy, etc. are all included.

Just like you said, just invest all the money and then raise new funds.

This is also my true thought. I have thought about it. Our focus can no longer be limited to the semiconductor industry. There are still many industries in which we lag behind others. We must develop in an all-round way and catch up in an all-round way.

However, we don’t have that much energy to do so many industries, and we still focus on investment.

Invest in two companies in each sub-sector, believing that some companies will emerge, and then increase investment in them layer by layer until they can achieve self-development. "

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