Reinventing the Millennium

Zhang Zhongtou returns.

Both he personally and Taiwanese reporters mentioned Ice Core in the name of the company.

This matter caused great concern within the ice core.

CEO Qiu Ciyun is in Germany and also participated in the meeting hosted by Fang Zhuo via online video.

Co-CEO Liang Mengsong and CTO Hu Zhengming both had the experience of working with Zhang Zhongtong in Taiwan. They knew his ability and determination well. In addition, they had SMIC's experience before them, so everyone was very solemn.

Competition in semiconductors is more complex.

Just talking about market competition, Bingxin is not afraid even if Taiji is ahead in the manufacturing process.

The problem is that semiconductors are not just about the market.

However, as soon as Zhang Zhongtou came out, he came to use administrative factors in a bad way, which made people frown and irritate.

However, despite the coming of soldiers and the cover of water, the internal solemnity and vigilance have not affected the research and development of technology and processes, and they are still striving to advance towards the 45nm process.

According to Liang Mengsong, the more Zhang Zhongtong is like this, the more it means that Bingxin is on the right track.

On February 7, after internal communication and comfort were completed, Fang Zhuo welcomed Bingxin’s old comrades.

On this trip to Luzhou, in addition to the changing factors on Taiwan's side, there is also a matter of targeted financing that needs to be finalized.

Bingxin's intention to invest and build a factory in Germany is almost confirmed. Qiu Ciyun is seeking more favorable conditions there, and the initial capital for this investment comes from the short-selling profits of the MIGA fund.

The fourth German factory is going to use the 65nm process production line, which is also Ice Core's most popular and mature process. The overall investment will take advantage of the global industry downturn to purchase a large amount of second-hand equipment, which will require US$1.6 billion in funds.

This US$1.6 billion is 40% of Magdeburg + a two-year interest-free loan of US$400 million + a German government subsidy of up to 20%, which means that the initial investment amount required for ice core is about US$560 million.

In order not to affect the normal budget of Ice Core and to continue to increase research and development, Fang Zhuo has already informed shareholders that he will introduce an international consortium for targeted financing and use the funds exclusively for the construction of the German factory.

That's a good thing for Ice Core, and shareholders have nothing to disagree with.

But the process still has to go.

Therefore, while the spirit of the Spring Festival is still lingering, old comrades from Goldman Sachs, DCM, and Deutsche Bank came to Luzhou, firstly to attend the meeting, secondly to inspect, and thirdly to care about the launch of ice cores.

From the time we attracted people to invest in 2003 to the Spring Festival of 2009, five years have passed!

Ice Core has now become the fifth largest wafer foundry in the world!

Why has there been no news about this listing?

Goldman Sachs Xu Kaiwei, DCM Connor, and Deutsche Bank Zhang Hongli came together to discuss this matter with Mr. Fang.

Okay, it’s almost done. I still vaguely remember the prospect of going public that Mr. Fang once said. It should be fulfilled soon, right?

When they arrived at No. 1 Yuhu Road, Luzhou and saw the Bingxin brand, they suddenly felt a little faint.

"Perhaps we should insist on letting Mr. Xiong come over this time." Xu Kaiwei regretted it when he got out of the car.

Zhang Hongli frowned and said calmly: "Why do you think he doesn't want to come? Does he think it's useless to come?"

Connor was very serious: "What are you saying to say something depressing? Maybe he doesn't want to come because he and Mr. Fang are in the same group."

Xu Kaiwei and Zhang Hongli didn't know for a while which situation was more beneficial.

The three people's eyes met. The secretaries and assistants in the car behind also got out of the car. Over there, they could already see Mr. Fang coming out of the factory with a smile on his face.

"Mr. Xu, Mr. Dirty, Connor, here we come! Come on, come on, get in the car, let's watch and talk in the factory."

Fang Zhuo welcomed the three presidents who had just gotten off the bus onto his factory sightseeing bus.

Immediately, he introduced to everyone the core factory of Ice Core.

The Luzhou factory is the earliest factory of Ice Core. It has built two production lines, one is 130nm and the other is 65nm. The latter is also the only 65nm production line in mainland China.

It is precisely because of the significance of this production line that Luzhou is now one of the domestic semiconductor industry bases. Since the financial crisis, with the wafer service alliance taking the lead in setting up the line, more domestic semiconductors have come to Yuhu Road. The company has become more and more solid in its scale of "industrial base".

Fang Zhuo introduced it with great pride and passion.

In fact, Bingxin's status here and even at home is worthy of his emotions.

The three presidents and shareholders listened silently to Mr. Fang's words, and occasionally interjected to support him.

After finally waiting for Mr. Fang to come to an end, Zhang Hongli said: "Mr. Fang, we are actually a little worried when we come here. Zhang Zhongtou from the reporter's side unexpectedly returned as CEO for no reason, and directly named Bing Xin. His intentions are sincere. It’s sinister.”

Fang Zhuo looked as normal and said with a smile: "What's the big deal? If the ice core is placed here, it can't be hidden. I have no intention of hiding it. How can he touch me?"

He continued: "Mr. Zong, I see that you are all pretending. We are all friends, so don't be coy."

Zhang Hongli pondered: "Mr. Fang..."

Fang Zhuo pointed at Deutsche Bank's Huaxia President and said, "No, you have to listen to Mr. Xu and Connor. Mr. Dirty, you are driving my Rolls-Royce. Don't let them think that you and I are jointly setting up a trap."

Zhang Hongli opened his mouth, but no words came out, yes, yes, this is Mr. Fang.

Xu Kaiwei glanced at Mr. Zang and said bluntly: "Mr. Fang, Ice Core is now one of the world's leading wafer foundries, and it's time to go public. I know you have found an international consortium to raise funds this time. It’s a German factory.”

"If it goes public, it won't be so troublesome at all. It will solve the existing funding problem and you won't have to worry about future funding sources. Why not?"

Fang Zhuo more or less guessed the intention of the three of them, and said gently: "I don't think this is the right time yet."

Xu Kaiwei, Zhang Hongli, and Connor were all waiting for the reason.

The sightseeing bus trotted forward, but nothing happened.

Zhang Hongli had no choice but to speak again: "Mr. Fang, is this what you want to say to us?"

Fang Zhuo was still gentle: "No, I was thinking about how to tell you better."

"Although global stock markets are showing some signs of recovery, the outlook is still unclear."

"This is especially true for the entire semiconductor industry. It will take a long time for the demand side to recover."

"Bingxin still had a net loss of US$290 million last year. It's not like you didn't know that the financial report was so ugly."

"The factory in Germany has not been built, 45nm has not been developed, and Taiwanese reporters over there are also watching. Mr. Xu, Connor, and Mr. Zang, it's not that I don't want to go public, it's just not the right time."

Zhang Hongli persisted and asked: "Which party always thinks when is the right time? The listing process also takes time, and it should be better by then."

"Since Zhang Zhongmo attaches great importance to calling Bingxin a competitor, we have to catch up with them before we talk about going public." Fang Zhuo replied with a smile.

Connor frowned: "Mr. Fang, is this... too long? Going public will not delay Ice Core's pursuit, but will be more conducive to raising funds for research and development."

Fang Zhuo thought for a while: "Let's not talk about catching up. The time to catch up within one generation is when we start the market."

Xu Kaiwei wanted to ask for a specific time: "Mr. Fang, please tell us a time so that we can have an idea."

Fang Zhuo was silent for a little longer this time, and then slowly said: "Two years, two more years."

The three presidents and shareholders looked at each other. Somehow, they suddenly believed in Mr. Fang's promise. Two years will be two years. After five years, I will wait for you for two more years.