Galaxy Capital has invested a total of $6 billion in Singapore's licensed semiconductors before this year, and with the help of a series of affiliated companies such as Spreadtrum, OV, and Avago, it still ranks behind UMC, occupying 8% of the market share. Behind it are companies such as GLOBALFOUNDRIES, Samsung and SMIC, all of which are around five percent. Other companies can ignore it, and their technical strength and financial strength are not as good as the previous ones.

Although the Singapore concession has Zhou Shi's opening, Liang Mengsong, a top expert in this area, has been lured to Singapore in advance, and has increased capital investment, as well as a large amount of guaranteed orders, but the overall strength is very different from TSMC, but it is almost certain that it will surpass UMC. TSMC has mass-produced the 28nm process this year, and Singapore-licensed semiconductors can mass-produce the 28nm process next year. GLOBALFOUNDRIES and Samsung will have to wait at least a year longer, and the impact of key talent on technology can be seen. Of course, sufficient orders also play a key role, this is the power of the industrial chain, Samsung is much worse than Galaxy Capital in this regard.

The biggest obstacle to the development of Singapore's concession is capital, and the money needed for technological upgrading is more than 10 or 2 billion US dollars at every turn, and it is not possible to find sponsorship from the mainland government. Fortunately, Singapore's support for high-tech industries is okay, and it has been transferring backward production capacity to the mainland in recent years to save money, while increasing investment in R&D and staff training in the mainland. No matter from the point of view of capital, market, or human resources, the mainland is a place that has to be taken seriously, but unfortunately, due to some self-evident and inexplicable reasons, there are still many problems in the migration of the latest high technology to the mainland.

The reason why the Four Elephants Fund is in a hurry to repay the arrears is not that he is stupid, but that Singapore does need financial support for development. There is no way, Galaxy Capital gritted its teeth and wanted to support it, who let the boss of the market be TSMC? Wanwan people have a love-hate relationship with the mainland, and the possibility of making trouble is too great. After Zhou Shi kicked Yang Zhiyuan out of Yahoo, although he himself did not say anything, the media in Wanwan generally called Zhou Shi the most unpopular entrepreneur in Wanwan.

The initial cost of acquiring the Singapore concession was roughly US$3 billion plus debt, followed by US$3 billion, and this time another US$2 billion. It can be expected that there will be another $2 billion to invest in the near future, and this is still on the basis of Singapore's concession profits (don't care how much profit, I don't know how to calculate, so many companies have orders and can't make money). If we follow TSMC's current market share of more than 50 percent and the market value of more than $60 billion, we can see that the scale of Singapore's concession investment is about the same as its possible market value.

Singapore's chartered semiconductors' revenue this year is about $2.6 billion, only 16% of TSMC's. The profit margin is certainly not 30 percent, or even 20 percent. But this year, GLOBALFOUNDRIES, which has a lower market size than Singapore, has also invested US$3 billion, which is about the same as them. It is said that Samsung has invested 5 billion this year, TSMC has invested 8 billion US dollars, and there will be more next year. If this continues, Galaxy Capital is likely to not be able to hold on.

"Mr. Zhou, the billions of dollars they are talking about, a large part of which is equipment procurement and fixed asset investment such as factories, you can find partners, your own investment is less than half of the total investment, and the pressure is not very great......," Chen Wen explained to him

"I see!" Zhou Shi suddenly realized, this is similar to BOE, they are all using other people's money to invest for themselves.

"In fact, with our relationships at home and abroad, we can find enough investors. These investments can even be packaged into trust wealth management products for external sales" Almighty Chen Wen

"So you don't approve of the merger of the Singapore Concession and Globalfoundries?" Zhou Shi

"Yes, I don't think it's necessary, our investment is more for advanced process technology than fixed assets. "Chen Wen

The re-energized Abu Dhabi Mubadalah Development Company approached Zhou Shi this time to explore the possibility of merging the two companies. They are much worse than Zhou Shi, and the investment may have been 10 billion US dollars so far, but the effect is much worse than that of the Singapore concession, no matter what the technology is, the gap has been widened step by step. Especially the key 28nm process, Zhou Shi will be able to mass produce it in the second half of next year, and GLOBALFOUNDRIES will be at least in the second half of the year after next, not to mention the maturity of the process. If Zhou Shi remembers correctly, until 2017, there was a large market for mobile phone chips with 28nm process, and then the mainstream jumped to the 14nm process, and the 7nm process was soon applied by TSMC.

"Let's take a look!" Zhou Shi did not rush to reply, and asked some people in China through channels whether they could increase support for licensed semiconductors.

With the withdrawal of Sixiang Fund from SMIC, most of the orders of Zhoushi's affiliates have been transferred to licensed semiconductors, in addition to the existing orders, which has had a serious impact on SMIC. Especially in the case that TSMC changed its hexagram and did not invest in advanced technology in the mainland, the licensed semiconductor entered the magic capital again at this time. R&D centers have been set up in Yanjing, Modu and Rongcheng. There must be many people who are dissatisfied with this, but this is normal business competition, if you don't do this, do you want Zhou Shi to be an enemy?

There was no news in China, and the senior management of Mubadala Development Company directly met with Zhou Shi, and Galaxy Capital was also in personnel turmoil at this time, and the withdrawal of Lu He's family of personnel still brought him some negative impacts. The matter of licensed semiconductors is also a big deal, except for Zhou Shi, no one has the right to make decisions, but according to the long-term cooperative relationship between the two parties, it is not easy to make a false deal with them, so Zhou Shi has to come forward in person.

Although Galaxy Capital's personnel turmoil this time has suffered great losses, it has also completely eliminated the hidden dangers since the subprime mortgage crisis, and Lu He and others got Meibang Securities because there is an agreement between the two parties, and any legal problems since the subprime mortgage crisis are their responsibility.

"We are very sincere, GLOBALFOUNDRIES and Licensed Semiconductor can become the second in the industry, with a market share of more than 10%, and we can also take the opportunity to go public to solve the current financial difficulties of both parties!"

Later, the Emiratis invested a lot in GLOBALFOUNDRIES, but the market share was always less than 10%, and the profit was negative for a long time. Although this does not mean that the UAE's investment has lost a lot, it can also be seen that the level of their high-tech operation is really not high. At least SMIC is much more efficient than them, and with the same amount of money, maybe SMIC can replace Samsung's later position.

"I have absolute control over the enterprises I work with, this is the premise!" Zhou Shi was not worried about their level, so he naturally would not compromise.

"I can't be the master of this request!" The people who came came politely and went back, simply and neatly, they had also studied Zhou Shi and knew that he didn't like to talk about conditions. And for the most part, he seeks cooperation in a mutually beneficial manner.

Zhou Shi's confidence in the concession is greater than that of Mubadala Development Company's confidence in Globalfoundries, and he does not need to rush. Take a hundred plating to read the latest chapter of "The Rebirth of the Post-80s Legend Claw Book House" for free for the first time.