My Age of Investment

After Liang Mengsong and his party arrived at the hotel, they were exhausted, so they went to their rooms to rest for a few hours.

In the evening, Liang Mengsong, who had washed up and changed into clean clothes, led his Wanwan engineers to the banquet hall at the appointment.

There were already more than a dozen people waiting in the banquet hall.

Seeing Liang Mengsong leading a large group of people appear, Xia Jingxing, Deng Yuanjun and Liu Xiaoduo all greeted them with smiles.

Xia Jingxing and Deng Yuanjun led Liang Mengsong to the main table, and introduced Chen Hong, Zhu Min, Deng Feng, Xu Xin, Lin Xinhe, Chen Datong, Li Guangnan and others at the same table to Liang Mengsong, while Liu Xiaoduo greeted Liang Mengsong like a big butler. Engineers are seated at several other tables.

"Dr. Liang, you have come all the way. You have worked hard. I would like to offer you a toast."

Deng Feng picked up the cup and clinked it with Liang Mengsong smilingly.

As one of the first few investors who invested in Chinese chip companies, Deng Feng was familiar with every Chinese technical expert in the chip industry. He did not expect that Xia Jingxing would actually invite Liang Mengsong, a great talent, and he was very concerned about Fuxing Semiconductor's interest in the company. Expectations were raised a lot in an instant.

Through conversation, after Liang Mengsong learned that this table was all potential investors of Fuxing Semiconductor, his attitude became a lot more cautious. After all, his main focus was on technology, and he was not so sociable. answer.

Xia Jingxing saw Liang Mengsong's restraint, so he spoke out to help him out, bringing the topic to Fuxing Semiconductor.

"At present, my country's entire chip industry chain is trying its best to catch up. The most lagging behind is semiconductor manufacturing equipment and materials, followed by manufacturing links.

Fuxing Mobile Phone Industry Investment Fund has invested in many chip design companies. The next important task of Fuxing Semiconductor is to establish a chip manufacturing foundry company and strive to achieve world-class standards. "

Xia Jingxing's impassioned voice instantly attracted the attention of everyone in the room.

Seeing this, he simply stood up, looked around, and said with a smile: "When I decided to enter the field of chip manufacturing, many people advised me: Mr. Xia, the chip industry is a bottomless pit of burning money! The country invests so much manpower , Material resources, have not solved this problem. Fuxing Industrial Group is only a private enterprise, so it is better not to go into this muddy water.

Many senior executives, including those in the group, feel that I am drifting away. Is it not good to sell mobile phones, appliances, and drones with peace of mind?

Next month, the revival mobile phone will be launched globally, and a lot of profits will roll in.

And the chip is hard work,

It will not be able to make a profit within three to five years, and tens of billions or even hundreds of billions of funds will be invested in the preliminary work. After the production capacity and technology are improved, it will face an "arms race" with its peers.

We all know Moore's Law, the number of circuits integrated on an integrated circuit chip doubles every 18 months, and the price drops by half.

Now the 65nm process, which represents the advanced level of the industry, has been mass-produced, and the 45nm process is also under research and development, and will be mass-produced and launched in the next one or two years.

Fuxing Semiconductor has only entered into semiconductor manufacturing at this time. Whether we choose the 90nm technology node to cut in, or jump directly to the 65nm technology node that represents the advanced mass production level, our technology will always be one or two generations behind the world's first-class manufacturers.

In the chip industry, one or two generations behind in technology is like looking at the mountain and running a dead horse. It looks very close, but in fact it is so close.

This is because the amount of investment required for each new generation of technology will increase compared with the previous generation of technology. Therefore, only the top few in the market will have sufficient market share and profits to support investment in next-generation technology.

And technology needs to be accumulated to promote the development of the next generation. If the technology of a semiconductor manufacturing company cannot support it to launch a new process as soon as possible, it must either stay in the old process without upgrading, or withdraw from the market.

This is the biggest problem facing Fuxing Semiconductor. Although we are rushing forward to the chip manufacturing industry, our opponents are not idle. They are not only running, but running faster than us. "

Liang Mengsong and other Wanwan engineers are nodding their heads. They have discovered one of the great advantages of the new boss. They are not blindly confident and can accurately recognize and admit their own shortcomings.

So what about being the richest man in mainland China, all his wealth is only enough to exchange for a ticket to enter the chip manufacturing process.

If Xia Jingxing said something big and empty, if he spent 100 billion, he would immediately catch up with AMD and Intel, and beat Samsung and TSMC. They would turn around and leave without saying anything, but it would also lower their expectations for the new company.

Fortunately, the Xia in front of him is always a down-to-earth person. Although he is young, he is not at all happy. As a man of science and technology, they all prefer this kind of boss, at least his IQ is enough.

President Xia Jing breathed a sigh of relief and said solemnly: "Although there are many difficulties ahead, chip manufacturing is a long-term development strategy set by Fuxing Industrial Group. From 2007 planning to 2027, we plan to use 20 years to catch up.

In the past two decades, we will not cut Fuxing Semiconductor's R\u0026D expenses and wafer production line expansion plans, nor will we only rely on Fuxing Semiconductor's own profits for expansion.

Fuxing Industrial Group will take out most of its profits every year to support the development of Fuxing Semiconductor.

If this is not enough, I personally have other industries that will continue to inject capital into Fuxing Semiconductor.

The 100 billion investment is just the initial investment, and there will be a second 100 billion and a third 100 billion in the future..."

Liang Mengsong listened with great interest, and his intuition told him that Xia Jingxing was not the kind of person who likes to shoot empty guns, so where did the subsequent hundreds of billions come from?

He thought about it. Facebook's valuation has already reached 200 billion. It is not clear how many shares Xia Jingxing holds, but as one of the founders, it is not low.

In addition, Xia Jingxing also owns many Internet assets such as oil pipelines and overseas holdings, as well as Vision Capital with an asset management scale of tens of billions of dollars. His net worth is very strong, and the upward trend is obvious.

Thinking of this, Liang Mengsong felt relieved, he had the confidence to say such things.

Deng Feng, Chen Datong, Zhu Hong and other investors felt differently. They also didn't believe that Xia Jingxing was empty-handed, but why did they spend so much money on chip manufacturing? Just for technology not to get stuck?

"There is a saying in the whole of China: lack of chips and screens!

For screens, we invested in panel manufacturer BOE; for chips, we invested in many companies in the chip industry chain, and we personally established Fuxing Semiconductor.

Panels and chips are the top commodities imported by China every year, which means that these are two industries with unlimited potential. They do not need to completely replace imports. As long as they can occupy a small market, it is enough for entrepreneurs and investors. bring rich returns. "

Xia Jingxing looked around the crowd again, and said, "Okay, let's not talk about the distance, everyone gathered here today for the revival of semiconductors.

Right now, Renaissance Semiconductor has nothing but a name and enthusiasm for the semiconductor industry.

Everyone is willing to participate in this project together, everything starts from scratch, I am very grateful!

Here, I also promise that as long as Fuxing Semiconductor is successful in the future, everyone here can share this glory.

The company has decided to take out 30% options to recruit global talents, not limited to Chinese, as long as they are engineers and scientists who are willing to work in China, they can enjoy the equity incentive plan of Fuxing Semiconductor. "

Fuxing Semiconductor has the largest option pool among all the companies under Xia Jingxing, because this is a technology-intensive, talent-intensive, and capital-intensive industry. Fuxing Semiconductor started too late, so it can only make more efforts in other places, otherwise even the international giants No exhaust can be seen.

For Fuxing Industrial Group, no matter how popular mobile phones or other products are, the core device semiconductor in the product is always the biggest weakness.

If it is done, it may not be able to fill this weakness, but at least it can be strengthened. For example, the process requirements of home appliance chips and automotive chips are not so cutting-edge. run wildly.

After Xia Jingxing finished speaking, there was applause from all around.

"Come on, let me toast to everyone. Thank you for coming to Shanghai from Wanwan. We will fight together in the future."

Seeing Xia Jingxing raise his wine glass high, the Wanwan engineers present got up one after another, and also raised their wine glasses high to respect Xia Jingxing.

In this way, the dinner ended in a very warm atmosphere.