Reinventing the Millennium

Bleeding ice cores to market is no secret.

It submits the form here, and Xiangjiang will disclose the prospectus of the company to be listed on the official website according to the procedures, which will also allow everyone to get a full view of this always low-key and mysterious wafer manufacturing company.

Since its preparation in December 2003 and its formal establishment in 2004, Bingxin has gone through nine years so far and has become the largest semiconductor company in mainland China.

Before 2009, Bingxin almost did not appear in public reports in mainland media, and the occasional news was only related to the activities of the richest man seeking investment.

In 2009, with the return of Tai Ji's founder Zhang Zhongtou to take charge of the company, Bing Xin's reputation suddenly increased, whether it was Tai Ji's industry white paper or his own evaluation of Bing Xin.

In 2010-12, the factor of geopolitics began to have a stronger influence, and American industry and administrative figures paid more attention to ice cores, which eventually led to a report on ice cores from the Netherlands. Restrictions on purchasing equipment and its failure to launch in the United States.

However, as Bingxin's public prospectus states - "Bingxin International is one of the world's leading integrated circuit wafer foundry companies. It is also the professional company with the most advanced technology, the largest scale, the most complete supporting services, and multinational operations in mainland China. Foundry company."

——"Bingxin International mainly provides customers with integrated circuit wafer foundry and supporting services for multiple technology nodes and different process platforms from 130 nanometers to 32 nanometers."

The world's leading! Mainland China has the most advanced technology!

as well as……

——“In terms of advanced process research and development, we are advancing the development of the 28nm process in an orderly manner as planned. Ice Core International has repeatedly proven its strong R\u0026D strength for sustainable development and can continue to provide top technologies to global IC designers. Support, we will strengthen technological innovation with an increasingly active attitude to meet customers' growing demand for advanced technology and differentiated products."

The application prospectus responded to the outside world’s questions about the obstacles to 28nm research and development. At the same time, there were also statements about the obstacles to purchasing equipment.

——"The global extreme ultraviolet industry is still in the paper work stage, and no relevant activities have been carried out. Ice Core International's overall production capacity and advanced process research and development have not been affected, and we are confident that we will continue to provide excellent services to global customers."

The strengthening of geopolitical factors, two specific issues that have caused doubts to the outside world, and many disclosed technological levels and financial figures.

Also, a question that came out of the final analysis.

What will be the issue price of Bingxin's current listing?

The prospectus of the Hong Kong stock application version is different from the official prospectus. It does not disclose information such as the number of shares issued, the issue price, the structure of the new share offering, and the use of funds raised.

Therefore, in this report about "Bingxin intends to land on the Hong Kong stock market", its valuation has become the focus.

Many people make guesses based on the financing information. Even though the United States has a share, it is difficult to know the true extent of the impact. They think it should be 18 billion US dollars...

On November 8, a report from Penguin Finance appeared in Duji hot search, briefly commenting on the situation encountered by the leading semiconductor industry in the mainland.

"Following the failure of the Nasdaq listing, Bingxin switched to the Hong Kong Stock Exchange and published a prospectus, which showed many benefits and also confessed many difficulties."

"Bingxin's revenue this year is expected to reach US$3.16 billion, making it the third largest foundry company in the world. The only ones ahead of it are Taiwan Kee and GlobalFoundries. This achievement is very encouraging."

"However, one reason why Bingxin chose Xiangjiang to list this time may be that its financial situation is really tight."

“It is reported that Bingxin is negotiating a second expensive factory project overseas. In addition to the established investment, the research and development pressure of the 28nm advanced process, the competitive pressure of enterprises such as Taiji and Samsung, and the pressure of the company’s shareholders... these have led to Ice core has to be forced to go on the market at such a not-so-splendid point.”

"Industry sources revealed that the market value of Bingxin's current listing may be around US$17-19 billion, which will be far lower than the US$21 billion it attempted to land on Nasdaq."

“This shrinkage in valuation undoubtedly proves the urgency of listing Ice Core.”

"It is worth noting that the research and development of advanced ice core processes is not only related to its own business operations, but also deeply related to the new product progress of Yike, another well-known listed company."

“Both the Qualcomm chips that Yike first adopted and the independently launched ‘Zhurong’ series of chips have always been manufactured by Bingxin. The two companies may be more closely related than we thought.”

"Yike competes fiercely with Samsung and Apple in mobile phone products. Similarly, Bingxin also competes fiercely with Samsung and Taiji in semiconductor manufacturing. It is worth mentioning that Taiji has clearly obtained part of Apple's chip orders."

"The competition in the two fields overlaps greatly. Once there is a problem with the advanced manufacturing process that supports Yike's independent chips, it may face a double-kill situation."

"I believe this is also one of the reasons why Yike's stock price has fluctuated recently."

"Yike is already an international giant, and Bingxin is already the world's third largest wafer foundry company, but the challenges they face continue."

Generally speaking, this included Penguin Financial report is fairly objective, but it talks more about challenges, competitive pressure, and shrinking valuations.

However, when it was reposted on Yixin Moments and Qi He saw it, he was still quite unhappy.

Qi He is the person responsible for the most extensive and complex business in Yike. His address book contains many cooperations, potential cooperations and even competitors.

He soon noticed that many Duji executives had reposted and commented on the relevant reports.

Qi He chose Lu Zhendong, the senior vice president of Duji whom he had talked with a while ago, to make a comment, because this person said, "It seems that this stock cannot be bought."

"Duke is going to enter the semiconductor industry?"

Lu Zhendong quickly responded: "You are not from Bingxin, so why are you anxious? Do you still have options over there?"

Qi He: "I'm anxious? It's weird, you have KPIs reproduced internally, right?"

Lu Zhendong: "Aren't you in a hurry? Are you in a hurry?"

Immediately, Lu Zhendong added: "Sorry, please stop typing, Sogou is in a hurry?"

Qi He: "Well, this is the quality of Duji's executives. They are starting to mess with Sogou. Why, Sogou puts a lot of pressure on you, right?"

Lu Zhendong: "Sogou is just like that. Duji has always faced challenges head-on. I hope Mr. Qi can also face challenges with a normal mind in the future. Business operations require a normal mind. Otherwise, you will encounter competitive pressures in a hurry, which may be big or small." defeat."

Qi He gave a thumbs-up expression at the end, ending a small conversation before attacking Duji.

He feels that Duji still attaches great importance to the pressure brought by Sogou, and also takes the competition with Yike seriously in many fields.

Similarly, he also felt that Mr. Fang did not pay enough attention to the transformation of Duji in the mobile era.

Where does this lack of attention come from?

Is it because "the search for such a mature business model is not imaginative enough" or is it that "Duji's business development and mobile pace is really slow"?

But Qi He felt that Duji, who had awakened, still had huge traffic and ecosystem, and was an opponent worthy of...at least worthy of the attention of himself and YMS.

So...let's see who loses, big or small.

The next day, November 9, at nine o'clock in the morning, Sina published a special report on Duji Medical Advertising. Because it was rare to involve the senior vice president of Yike, it was also added when it was reprinted by other media. Titles similar to "Yike executives bombarded Du".

Yike executives blasted Du Ji!

Industry celebrities, giant executives, and an ordinary user's journey of medical confusion.

As the global senior vice president and president of the YMS business group, Qi He belongs to at least the top ten people in Yike. His voice is interesting because of his identity.

However, Sina's interview with him was only very small, and more of it used the speeches of users of Duji's own ecology as examples, as well as actual face-to-face interviews and related compilations.

Real cases, real cases that sound ridiculous, real cases that sound ridiculous but make people laugh.

The most important thing is that the special report in this issue of Sina clearly shows that there is more to follow, with the word "(1)" marked on the title.

Within ten minutes of the Sina special report being released, Sohu was the first to reprint it.

In just half an hour, related problems appeared on Zhihu and the ranking on the hot list climbed.

After half a day, in addition to being reprinted on many websites, some online websites of print media also appeared.

Lu Zhendong, senior vice president of Duji, was a little confused when he received the news. His first reaction to "Yike Qihe bombarded Duji" was - is it to this extent?

He subconsciously thought that the heated discussion in the circle of friends yesterday was exposed and then spread through traffic.

However, when Lu Zhendong only read half of the Sina special report, he immediately realized that this was a premeditated and organized attack against his family!

Let’s not explore whether what is reported in it is a fact. Even if it is a fact, is there Chunqiu writing style?

Therefore, instead of rushing to screen, consider how to suppress public opinion.

Lu Zhendong, the person in charge of the Public Relations Department of the Telecommunications Union, learned that the other party was dealing with this situation, but... it seemed that it might indeed be a bit tricky!

The source of the outbreak comes from Sina.

As a relatively traditional portal website, Sina's reporting efficiency is still the highest on the Internet. Thanks to the revenue brought by many popular games, it has not given up on its own news and has always had a good reputation.

Generally speaking, Sina and Duji didn't mess with each other in the past, but once they did...

The communication attitude from Sina is very firm: the report is true and the article cannot be withdrawn.

The source cannot be solved. The fermentation-assisted website has played a role to some extent. Duji’s communication and tough attitude have been effective, but there are also problems similar to Sina. Yike-based platforms such as Zhihu and Weibo are not Buy it.

Zhihu does not suppress the popularity, and Weibo does not screen keywords. Discussions are ongoing on both platforms.

At the end of the day, the popularity did not drop in the evening, but the upward trend was at least under control, and it did not spread across all channels at once.

However, one wave came after another, and Du Ji received a call.

Some medical content providers that had not previously signed an exclusive cooperation supplementary agreement and Sogou jointly responded to the relevant departments, believing that Duji's actions were suspected of monopoly and unfair competition.

There was no criticism on the phone, but Du Ji was asked to explain the situation.

However, such successive actions all show that...Yike has expanded the scope of competition!

Lu Zhendong felt a sense of familiarity. He seemed to have watched the penguins lively like this before.

Is Yike trying to attack its own reputation on a large scale through multiple channels?

The question is, how effective will this be?

Lu Zhendong stayed awake until early in the morning today, waiting for some internal response plans, including "investigating the relevant situation of medical advertising", "increasing the review of medical advertising" and "actively safeguarding the rights and interests of users."

Ask questions and give answers.

The attack is to give it feedback.

Still on the same question, will the back-and-forth process affect the company's recent competitive actions?

Will the agreement with UC be torn up? Will the agreements with Samsung and Apple be torn up?

Definitely not.

Avoid the limelight, the popularity on the Internet is always temporary.

Just when Lu Zhendong was about to fall asleep, a piece of latest news made him frown. There were a lot of outbursts in his Tieba. The trigger was that the person involved in the special report appeared and posted in the Tieba, talking about his situation and Show cases to prove what you say is true.

As a result, his account was suspended after a while.

And, not only this.

The experience of medical treatment by executives of large companies is quite distant, while the experiences of ordinary users are right around them.

Many major forums, including Li Yi Bar, LOL Bar, and World of Warcraft Bar, have launched support actions under the banner of "Block one me, but there are still thousands of me", using pictures, animated pictures, slogans, Use curse words, emoticons, acrostic poems, etc. to explode.

From 1 a.m. to 5 a.m., deletion of posts, bans, and competition for bar services continued.

When Lu Zhendong woke up in the morning, he noticed the spread of the smog before going to bed, but after seeing that the company was under control, he felt that there was no big problem, and his attention was quickly attracted by Sina's second special report.

This time, Sina conducted an in-depth analysis of the revenue from medical advertising and exposed the domestic department contracting chaos.

For example, the argument that medical advertising accounts for at least 20% of Duji's annual revenue made Lu Zhendong frown. The opposite assessment was quite accurate... and the example of department contracting and chaotic treatment...

It has to be said that Lu Zhendong admitted that he had his eyes opened a little, and for the first time he became worried because of the "ridiculous treatment" involved. Can the internal processing procedures at the company level stop this turmoil?

The performance on the second day was like a repeat of yesterday. The only difference was that today’s blast came earlier.

At nine o'clock in the evening, many major forums once again used Duji's account to launch a campaign against Duji.

Because of the experience in the early morning, this movement was quickly suppressed.

At ten o'clock in the evening, 37 hours after Sina released its first special report, Duji issued a statement that it would strengthen the qualification review of medical advertisements, improve access standards, implement the advertising process, and safeguard the rights and interests of users.

Lu Zhendong breathed a sigh of relief. Although he felt that the company's response should have been carried out yesterday, it was not too late today.

The most important thing is that the two days of public opinion did not spread to more levels, which is more critical.

Just when Lu Zhendong was about to fall asleep, the mobile phone screen on the bedside table suddenly lit up, and a call from the United States made his heart skip a beat.

It was not Apple China, but Katie, Apple’s global vice president and head of public relations, who politely asked Duji to explain the principles and procedures in medical advertising.

Lu Zhendong calmly explained the company's practices and strict procedures, and tactfully expressed his doubts at the end. This team was not involved in previous cooperation with Apple.

"Yes, Mr. Lu, the cooperation between Apple and Duji in search is gratifying, but I think we should also work with our partners to spread the correct company values."

Katie responded positively.

Lu Zhendong put down his mobile phone and suddenly had doubts about the agreement he had reached with his partners. He tossed and turned and couldn't sleep all night.