The Millennium Semiconductor Survival Guide

Didn’t the management departments of state-owned enterprises in China know about the shortcomings of state-owned enterprises before Xinxin? Could it be that no state-owned enterprise had done similar exploration before Xinxin?

Obviously not.

A considerable number of senior executives in the management departments of state-owned enterprises have served in lower-level enterprises, and have even directly participated in the establishment of large-scale state-owned enterprises. Everyone is familiar with the shortcomings of state-owned enterprises.

Especially in the 1990s, China invested more than 2 billion RMB in the 908 project. The monthly production capacity was only 800 wafers in the first month of production. It suffered a loss of 240 million yuan in the year of production. It can be said that it failed at the beginning.

The main body of the 908 Project is Huajing. After Huajing failed miserably, both the company itself, the competent authorities, higher authorities and external media have made various interpretations.

At that time, there were not a few people who attributed the problem to the system. Even many gentlemen believed so.

Therefore, there are actually many cases where state-owned enterprises provide money, production lines and manpower, and then other capital entities are responsible for management, but these cases are rarely successful.

For example, after Huajing failed, it established a joint venture with a company called Shanghua in Xiangjiang to establish Wuxi Huajing-Shanghai Semiconductor. Huajing held 49% of the production line shares and Shanghua held 51%.

Unfortunately, some of these cases were successful in the early stages. After the Nasdaq bubble burst at the turn of the century, the global semiconductor market also ushered in an unprecedented downturn as the bubble burst. These joint ventures have a calculation. All suffered huge losses.

As a result, no one knows what to do now. Semiconductor companies that have been market-oriented have been too short and have not experienced a complete cycle.

Moreover, Samsung is not yet a giant in the field of storage semiconductors in the future. The more it goes through a downturn, the more it borrows money to expand production capacity and cut prices to squeeze out competitors. It is not yet perfect, and it has not achieved many commendable achievements.

For Chinese enterprises and guidance departments, there is no stone for them to cross the river by feeling. They have no idea how long the loss period will be and how much the loss will be.

When the global semiconductor production capacity was sluggish before, no one wanted to establish a joint venture. Semiconductor companies other than Xinxin avoided it. Now with the recovery of the macroeconomic environment, many companies are trying to negotiate cooperation. Take over these production lines in China at low prices.

China does not have high-end production lines, but there are still many mid-range production lines, which also have a lot of value at the moment.

Enterprises want to do this, even if they think they may make more profits in their own hands, but making money is not helping themselves to make money. Wouldn't it be better to throw the enterprise out and not be responsible for the specific operation and management?

Functional departments have similar ideas, but some bosses don't want them to do this. The bosses still want to train their own teams and talents.

Even private capital like Xinxin is not one of our own, let alone overseas capital.

"If China wants to develop the semiconductor industry, the power of state-owned capital is indispensable. We can hand over some enterprises to private capital, overseas capital or other capital, but handing over these enterprises to their management does not mean that All semiconductor companies must be released.

The purpose of handing it over is for you to learn and learn advanced management models. You can't just learn one thing over and over again. We can't do that. We have to leave the company to them!

Isn’t this nonsense!

I am also in charge of state-owned assets and state-owned enterprises, so I will definitely not agree to this model unless you find some strong reasons to convince me.

In our latest management measures, we have made it clear that we will not hold companies responsible for losses in their operations. Semiconductor companies are allowed to explore business models and losses in specific operations. This has loosened the shackles for you. I want to see the effect. Don’t Use the same tactics as before and talk nonsense! "

The bosses only set the direction, but the people below will have their legs broken. The people below are full of slander. Isn't it good that everyone is incapable of leaving things to capable people?

The news of Zhou Xin's return to Shen Hai was like a stone falling on the lake, and the aftermath was spreading outwards.

The first person to react was naturally Shen Hai. From the top to the deputy mayor in charge of Zhangjiang, they took turns coming to Zhou Xin for dinner. It would be no exaggeration to describe their attitude as flattering.

"President Xin, you are welcome to choose Shenhai as your destination after returning to China. I believe that this city of Shenhai will not disappoint you."

Zhou Xin is not used to such occasions. Whether at home or abroad, he always has a very strange feeling when encountering such occasions. You will be the center of everyone present. Everyone must listen carefully to what you say, no matter what they are thinking. , the expression should look like you are absorbed in it.

If you are making a joke, even if it is not funny, everyone must act amused. Zhou Xin will always feel that everyone is an actor, wearing a mask and acting, but this is the operating rule of society, no matter who wants to It's impossible to take off the mask.

Take Zhou Xin, for example, he has the capital to do whatever he wants, no matter in terms of wealth or status, but when he really does whatever he wants on this occasion, others will not think that he is doing whatever he wants, but will think that this is another mask of his. That’s all.

Zhou Xin said: "Shenhai has a very good business environment, with a large number of universities gathered here and sufficient human resources. It is a good place to develop high-tech industries.

Previously, Xinxin was located here because Shenhai can radiate to the entire Yangtze River Delta region. The dense waters, vast population and large number of talents in the Yangtze River Delta region allow chips to form a cluster effect.

Judging from the current results, Shenhai's development in the chip industry is in line with our expectations at the time.

I communicated with Professor Hu at that time. We were selecting a site. We considered Shenhai, Pengcheng, Yanjing and even Xiangjiang, but finally chose Shenhai. "

The same words have different effects when spoken by different people. As the richest man in the world at this time, Zhou Xin said that Shenhai is a good place. The civil servants present at Shenhai felt quite proud.

"Shenhai has developed rapidly in the semiconductor industry and has at least one position ahead of other regions in the country."

“No, no, no, at least two positions, such as Yanjing Semiconductor Industry, which invests the most, are far behind us in terms of scale and technological content.

Last time we went to Yanjing for research, we found that Yanjing’s semiconductor industry has a limited yield rate, and its revenue and profits cannot be compared with those of Shenhai’s semiconductor companies, let alone new chips. "

“The reason why Shenhai’s semiconductor companies are able to develop so well is that New Core Technology has settled in Shenhai. The siphon effect and scale effect brought by New Core Technology have made Shenhai the first choice for foreign companies to establish their semiconductor industry. "

This is a fact. If there were no Xinxin, TSMC's first domestic factory would be located in Jinling, because Jinling is an old city. But now TSMC has chosen Shenhai because Shenhai has too many advantages in all aspects.

On the surface, this meal was Shen Hai's investment promotion for Xinxin. In private, Hu Zhengming told Zhou Xin that this was a welcome banquet specifically for his return to China.

When Zhou Xin said something, everyone would respond together. Someone at the meeting asked if they wanted to drink something. Zhou Xin said no, and no one said they must drink. Instead, he offered to serve some drinks, and he didn't even mention tea instead of wine. I'm afraid I won't be able to sleep because I drink tea at night.

Therefore, wine table culture still depends on status. When your status is sufficient, you can completely ignore these rules.

Zhou Xin said: “Shenhai has its own natural advantages, and the new chip landing in Shenhai will only help Shenhai further strengthen this natural advantage.

We are a perfect match. "

“We still want to welcome the new president back to China, and we will rely on you for the subsequent development of Shenhai.

We just mentioned high-tech. Shenhai has done well in the chip industry, but it is far behind in the Internet industry.

Not to mention compared with Zhongguancun, even compared with Pengcheng, it would be thrown out by several streets.

As the king of Silicon Valley, you have to give us some advice when you come back. "

Because of Zhou Xin's arrival, he took Alibaba and Tencent out with him, causing the domestic Internet situation to change almost beyond recognition.

Sina was wholly acquired by NetEase. Because Sina failed to attack Nasdaq, and then faced other portals and search engines to seize the market, both market share and revenue have repeatedly declined. After investors lost patience, Sina's Management accepted NetEase's acquisition request, and NetEase is now the second-largest portal in China, second only to Sohu.

Sohu has replaced Tencent's original position and become the largest Internet company in the country. It plagiarizes different Internet products, uses traffic advantages to grab customers, and makes games. How Tencent developed before, Sohu has developed.

Tencent focuses most of its energy on overseas markets, and only holds the domestic instant messaging software market. Zhou Xin has a hunch that after Pony returns its energy to China, it will have a fierce battle with Sohu.

The only Internet company in Shenhai that is somewhat famous is Shanda. Shanda, which made its fortune by making games, is far less profitable than the original game. This is because Riot Games entered the country too quickly. Riot Games with the support of NewPay quickly localized after entering the country and introduced a large number of neon games. Hong and Gaoli’s online games, and these online games are operated by themselves.

The advantage of Neon and Goryeo companies being responsible for their own operations is that they are better able to understand the preferences of Chinese players and avoid distortion as much as possible in the process of identifying and transforming needs. At the same time, there are no Chinese Internet companies to intervene in the middle, and there is less behavior in squandering the benefits. .

This resulted in Shanda Legend's profits being very high, but it soon fell out with the developer of Legend. The developer directly entered China for operations, which was equivalent to having two Legends on the market, and a large number of competitors.

As for the e-commerce field, Alibaba is the undisputed king in the B2B field. Its sphere of influence has swept the world and it is the Chinese company with the highest listed market value. However, they have not launched Taobao or entered the B2C market because B2B profits are already considerable.

At present, the number of Internet users in China is limited, and there are even fewer electronic payment users. B2C is actually a very niche market, mainly concentrated in first-tier cities and a few second-tier cities. Express delivery infrastructure is also not mature.

Therefore, there are currently three domestic e-commerce companies in the B2C field: JD.com, Qujia, and Joyo. Among them, Qujia was acquired by eBay, and Joyo was acquired by Amazon after Lei Jun went to Silicon Valley. Currently, it is a tripartite situation.

Of course, Alibaba is communicating with JD.com and trying to acquire JD.com. Although the market is small, Zhou Xin's discussion of the Internet ecology is deeply rooted in the hearts of the people. All ambitious Internet companies want to build their own ecology.

This has also resulted in Sohu’s frequent attacks in all fields not attracting as much criticism as Tencent did in the original time and space, because building an ecosystem is to be large and comprehensive, which is normal.

Back to Shenhai, almost all of the Internet companies mentioned above are in Zhongguancun. Shenhai’s reputation in the Internet field is completely inconsistent with its status in Chinese cities.

Shenhai places its hopes on Zhou Xin and Xinxing Investment, hoping to use Zhou Xin's ability to cultivate some local Internet companies in Shenhai.

Zhou Xin said: "Shenhai has the soil, talents, and policy support. The reason why we haven't seen the results yet is because the time is not long enough. When the time comes, it will naturally blossom and bear fruit."

This is true. In later generations, Shenhai also emerged, including Ele.me, Bilibili, and MiHoyou, a series of second-tier manufacturers. Of course, they are still incomparable to Shenhai, Pengcheng, and Hangcheng.

"President Xin, we feel relieved because of your words. Every time Leader Yan asks, I don't know how to answer. Now I feel confident."

Leader Yan is the largest Shenhai official present besides Zhou Xin. He is also the deputy mayor and the leader of the Zhangjiang High-Tech Park Development Group.

"You guys are really good at climbing up the pole. The new president has said so. If Shenhai's Internet companies don't improve by then, it's all because your work of attracting investment and cultivating enterprises is not adequate." Leader Yan also said the same thing. Just kidding, on this occasion everyone talks about work in a vague way.

In the discussion session after the dinner, the topic should be relatively serious.

Zhou Xin was the first to make a promise: "Shenhai is a good place, as I said before, so the headquarters of emerging investments will be moved to Shenhai and Lujiazui in the future.

Our current investment scale is around RMB 50 billion. This number is not enough, and we will add more in the future.

The money earned in some Internet fields will gradually be withdrawn, and we will focus more energy and resources on semiconductor companies.

My thinking on this aspect is that Internet companies are not short of money. If emerging companies do not invest in them, Sequoia, SoftBank, HSBC, and Goldman Sachs will all invest. Now that the Internet winter has passed, it is spring, and there is no shortage of money in the market. Lack of good projects.

Xinxing will shift the focus away from this.

The chip industry is different. China faces great restrictions in the chip industry. There are historical reasons and practical conditions. The Wassenaar Agreement has had a great impact on China's chip industry.

Therefore, capital does not like to invest in the chip industry. Emerging companies come to invest. We do long-term business. We not only invest money, but also provide resources and support to accompany the growth of enterprises. "