My Age of Investment Chapter 1405

Chapter 1405 The weak and the weak are equal to the strong

Fu Jixun said, "I think it is necessary to vigorously develop memory chips!"

Xia Jingxing nodded and motioned Fu Jixun to continue.

"At present, Fuxing Semiconductor is deeply cultivating in the Chinese market, and Xinxin Group is cooperating outside.

I think Xinxin Group should try to avoid comprehensive competition with Fuxing Semiconductor, and it is best for the two to achieve a complementary effect.

We can't blog each other with our left and right hands, right? "

Deng Yuanjun and Fu Jixun each have an integrated circuit industry fund. The former came to Singapore with Xia Jingxing this time, and was also preparing to communicate with Fu Jixun.

One of the key points of communication is strategic coordination. Simply put, it means that you don't beat yourself up, but beat others together.

Hearing Fu Jixun's words, he couldn't help but interrupted: "Mr. Fu, because of Xinxin Group's acquisition of Meiman Electronics, in fact, it has already exchanged with Spreadtrum in the field of baseband chips."

Fu Jixun nodded, "Yes, this is a fact, and it is also an industrial merger and acquisition action approved by President Xia."

Xia Jingxing looked at Deng Yuanjun's puzzled eyes and explained: "The market for baseband chips is huge, and even if Spreadtrum's technology is achieved, it is impossible to monopolize the entire market.

Introducing the competition of Meiman Electronics can keep this pool of water alive all the time, rather than a stagnant pool.

In addition, Meiman Electronics has been researching and developing in the field of mobile phone chips for more than three years, and it is impossible to withdraw from this field.

Moreover, the TD chip they developed also won the bid for many mobile projects.

Spreadtrum Communications and Meiman Electronics, the two can work together to squeeze MediaTek out of the Chinese mainland market, and then slowly deal with Qualcomm.

Also, Meiman Electronics has a business in mainland China, which also gives Xinxin Group a reason to expand and build a fab in the past.

Although Xinxin Group is a Singapore company and its headquarters is also in Singapore, it does not mean that it does not do business in the Chinese mainland market.

On the contrary, Xinxin Group should make full use of the identity of a Singapore company, flexibly and calmly complete the capital operation and technology acquisition in the international market, and then use the relevant technology and resources in the Chinese mainland market.

This is our original intention to initiate the establishment of Xinxin Group, and it is also the next development plan of Xinxin Group. "

Deng Yuanjun nodded, "I understand."

After that, he smiled at Ji Xun again, "Mr. Fu, I'm sorry to interrupt you, you can continue."

Fu Jixun nodded slightly to Deng Yuanjun, and continued: "There is no business friction with Fuxing Semiconductor at all, that is impossible.

Fuxing Semiconductor has Huaxin International, and we also have Chartered Semiconductor, a chip foundry.

It can only be said that the two companies try to control the healthy competition in a small area, and in a large area, they have agreed on their main areas of strength to avoid large-scale competition and cause great internal friction. "

Hearing this, even Liu Hai couldn't help nodding, looked at Fu Jixun with admiration, and said, "Yes, Xinxin Group is now a Singapore company, and Temasek's shareholding is in it, so it can't be compared with Fuxing. Semiconductors are like a family, and the competition should not give in an inch.

But where there should be no competition, we must not start a foolish war, allowing European, American, Japanese and Korean semiconductor manufacturers to reap the benefits. "

Fu Jixun smiled, "Yes, the more important strategic purpose of Xinxin Group is, as President Xia just said, to make full use of its non-Chinese status to help China's semiconductor industry and help rejuvenate the industry move forward more steadily. step forward.

On the basis of this most important strategic goal, it should be nothing to have a small fight with Fuxing Semiconductor.

Maybe they beat the third house to death. "

Xia Jingxing said with a smile: "Then my loss is a bit big, and it's still double."

"I can earn it back later!" Fu Jixun said with a wink.

Xia Jingxing smiled and nodded lightly, "Well, the focus areas of Xinxin Group still have to be changed. They can't focus on mobile phone system-level chips, nor can they focus on the major fields of IoT home appliance chips and automotive chips."

"Then we can only do storage chips. This market is big enough and fat enough, and it will not compete with Fuxing Semiconductor. On the contrary, it can provide strong support for Fuxing series terminal equipment.

And this is also the private land of Hynix formed by the merger of Samsung, LG Semiconductor and Hyundai Electronics.

Aren't Samsung and LG aggressively going to mainland China to build panel production plants recently? What do you want to do? We also set fire to their doorsteps. "

Speaking of this, Fu Jixun's popularity instantly rose, and he said in a deep voice: "More than a year ago, a fierce war broke out again in the memory chip market.

Bang people in this industrial war are not ordinary ruthless!

At the end of 2007, the price of DRAM fell to only a quarter of the same period in 2006.

In 2008, when the financial crisis broke out, the price of DRAM plummeted, and the price of a single chip plummeted from US$2.25 to US$0.31.

At that time, the material cost of DRAM manufacturers was about 0.6-0.7 US dollars, and the cash cost was about 1.4 US dollars.

What did the stick-based memory manufacturers headed by Samsung do?

They started the counter-cyclical investment that made countless peers hear the news!

There have been three counter-cyclical investments in the history of stick country memory chip development.

Taking Samsung as an example, their first counter-cyclical investment took place on the eve of the signing of the Plaza Accord, and the people of the country saw a needle. The remaining market share has initially gained a firm foothold in the industry.

The second counter-cyclical investment occurred in the 1990s. When the global memory chip price fell again, Samsung expanded its production capacity again, resulting in huge losses of the three Japanese giants Hitachi, NEC, and Mitsubishi, and had to merge their memory divisions into one company. -- Elpida, United Anti-Rod.

The third counter-cyclical investment was this time in 2007. Samsung once again raised the butcher's knife to kill its Japanese and European rivals.

As it turns out, they succeeded again.

Samsung used 118% of the company's total profit for the year to expand DRAM production, and launched a price war by increasing production capacity, deliberately exacerbating industry losses.

DRAM prices fell below the cash cost in mid-2008, and fell below the cost of materials at the end of 2008, selling one piece at a loss.

Infineon, which was spun off from Siemens' semiconductor division... Qimonda, the memory division spun off again, the world's fourth largest DRAM supplier, known as the light of European memory, went out at the beginning of this year and declared bankruptcy.

Elpida, the third largest DRAM manufacturer, is still lingering on for the time being after receiving a bailout from the Japanese Ministry of Economy, Trade and Industry.

The Chinese people started from scratch, and by launching three industrial wars, they basically wiped out their global rivals in the field of memory chips. "

Xia Jingxing interrupted: "What is the world, there is still a Meiguang jumping around."

Fu Jixun said with a light smile: "That's their father, if you dare to fool around, be careful of getting a sky-high fine.

Even Micron is currently far behind Samsung and Hynix in the storage chip market, especially in the DRAM field. "

Deng Yuanjun asked: "I heard that Hynix was severely hit by this round of counter-cyclical investment, delayed its investment and expansion plan in Xicheng, China, closed its Oregon factory, and tightened its belt in Bangguo. "

Fu Jixun said lightly: "After all, Hynix is not as strong as Samsung, and the crazy debt expansion in the past few years has buried the hidden danger of today's debt crisis.

But don't worry about them, they won't die.

The government of Bangguo attaches more importance to the semiconductor industry than the government of Germany. This year, it is issuing new loans to Hynix, and allowing the repayment of existing debts to be postponed, for fear that Hynix will fail.

No matter how bad it is, the Bangguo government can find a consortium to come forward to reorganize, just like the reorganization of the memory business of Hyundai and LG a few years ago, anyway, the meat is rotten in the pot. "

"Can we buy Hynix?"

Hearing that, Xia Jingxing, Fu Jixun, and Liu Hai all stared at Deng Yuanjun, how much did you drink at the banquet today?

Deng Yuanjun looked at him like an idiot in the face of everyone, and continued without changing his face: "I mean that Xinxin Group came forward to acquire, and Fuxing Semiconductor must go to acquire it."

Fu Jixun shook his head and made a long voice: "It's hard! At the beginning of the century, Micron Technology wanted to take over Hynix, which was desperate at the time, but was unanimously opposed by the board of directors of Hynix.

Well, prepare to die if you don't sell it!

Just when everyone was expecting Hynix to hang up early so that it could rush to carve up the market, it turned out to be reborn by relying on the Chinese market.

At that time, Micron Technology sued Hynix to the EU and the United States because of its failure to acquire Hynix, on the grounds that it received bank subsidies controlled by the government of the country.

What's more, the EU and the US also adopted the evidence submitted by Micron Technology and decided to impose 34% and 45% import tariffs on Hynix respectively.

In order to circumvent the tariff sanctions, Hynix finally found STMicroelectronics to invest 2 billion US dollars in Xicheng, China to jointly establish a memory chip manufacturing plant, and Hynix received two-thirds of the production capacity allocation.

This investment also became the largest foreign technology investment in China at that time, effectively alleviating the operating difficulties faced by Hynix at that time. "

Xia Jingxing smiled, the acquisition would not result in a lawsuit, is it alright?

In the chip battlefield where the smoke of gunpowder cannot be seen, there are countless similar dirty things.

Even his own dog will be hit with two sticks, let alone people who are not in a good relationship.

If you want to do something, you have to be mentally prepared to resist all kinds of guns and arrows.

"Don't think about it, Hynix can't be acquired, and the debt crisis they face this time is much better than last time.

The situation was so bad last time that even the Bangguo government thought it might be hopeless, and their American father came to buy it in person, but the acquisition plan was still aborted.

Chinese Holdings and Xinxin Group, which has a stake in it, got together, and the stick would not even let us in. "

As soon as Xia Jingxing finished speaking, he heard Fu Jixun say loudly, "Then buy Qimonda and Elpida! Combining the weak and the weak equals the strong!"

Today is the third watch, and there is still a chapter to be paid tomorrow, otherwise it will be unbearable tomorrow.

(end of this chapter)

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