At the Hong Kong headquarters of Xinchuang Electronics Group, Minister Hu of the Ministry of Electronics Industry of China led a team, together with representatives of the domestic semiconductor industry such as Huajing Electronics Group, Lishan Semiconductor, Xinchuangxin, etc., to visit Xinchuangxin Electronics Group.

Before Lin Qi arrived, Hu Weiwu, the general manager of Xinchuang Xin, took Minister Hu and his party to visit the headquarters of Xinchuang Electronics Group.

"Xiaohu, I visited your Xinchuangxin factory before, the production management system is still very good, the factory is racing against time to work overtime, and every day the production will routinely summarize the experience and shortcomings, this spirit is not much different from the domestic chip factory. Minister Hu said with a smile, "How come to your group company, there is basically no strict organization inside? In addition to the administrative management is a bit decent, other people are like headless flies, each doing their own thing, and there is no specific performance appraisal goal, you can do whatever you want, isn't this similar to the past Fairchild semiconductor?"

Fairchild Semiconductor, which can be called the Whampoa Military Academy in Silicon Valley, is also a negative teaching material for business failure. The source of a large number of leading enterprises and product inventions in later generations may have sprouted in the era of Fairchild semiconductors. Because, Fairchild Semiconductor does not have a specific direction, and all kinds of potentially promising technologies encourage employees to invent and innovate. However, the problem is that many technicians have invented some new products, but Fairchild Semiconductor does not have enough funds for commercial mass production.

In the end, it led to the departure of the technical backbone of Fairchild Semiconductor Company one after another, and these early semiconductor talents who left Fairchild Semiconductor founded a bunch of semiconductor companies such as Intel, AMD, and National Semiconductor.

"The management system of our new innovation chip was created by Dr. Yu Youcheng, who participated in the management of Intel Corporation's wafer fab in the 70s. Although I only understand Intel's production management system in the 70s, based on this based on domestic production practices, we have created the current production and R&D system of Xinchuangxin bit by bit. Hu Weiwu said with a smile, "After I took over, I didn't have anything special to do, I just knew that the improvement of the process was the same as brushing questions in the exam." At the beginning, in the first grade, I scored 10 points in the 100-point paper, and I have been studying and summarizing hard, and I graduated with a score of 100 and 99 points in the first grade. After that, entering the next process, it is equivalent to going to the second grade and you need to continue to study and summarize the questions, you must eat every test point thoroughly, understand all the things you don't understand, and you must reach 100 points. Our management is just like the principal of the school, not only may we have to improve the grades of each class and grade, but the grassroots management is like the teacher, constantly preaching and solving doubts, of course, even the teacher will face new knowledge points and new challenges, and must continue to learn in order to teach the new students. One team after another brought it up, forming an atmosphere and system. In addition, it is the salary incentive system, and the salary of Xinchuangxin cannot be compared with the parent company, but the average annual salary per capita has reached 150,000, and the annual salary expenditure is 3 billion, and it is constantly refreshing. Teams and individuals with good management system, right direction, and willingness to work hard to improve can get more incentives...... At the same time, some mature projects are incubated and become independently operated subsidiaries, and some companies may grow into tens of billions of valuations, bringing huge growth returns to the parent company. ”

"The average annual salary of Xinchuangxin is 150,000 yuan?" Minister Hu and his entourage couldn't help but be shocked.

"It's not a big deal, isn't it? If the group headquarters takes the dividends of our boss Lin Qi per capita, then the per capita annual income will exceed 5 million. Boss Lin Qi gets tens of billions of dividends every year, and the sum of other people's salary dividends still reaches more than one million per capita. Hu Weiwu said, "I was originally a group company, and if I don't leave the group company, it should not be difficult to get more than 5 million a year." However, when Xinchuangxin serves as CEO, the salary system is no longer the group's, and the group's equity is also equivalent to the equity of Xinchuangxin. Now, my annual salary is just over 300,000 yuan, and I hold nearly 0.5% of the equity of Xinchuangxin, and the dividend should be less than the group company. Moreover, the annual return per share of the group company is calculated according to the appreciation of net assets, and the annual growth stability is far greater than that of listed companies such as Xinchuangxin, which are affected by stock price fluctuations. ”

Minister Hu made a rough calculation, and couldn't help but be surprised and said: "Xiao Hu's net worth is at least 100 million, right?"

"There is a little more than 100 million, but the equity reduction of Xinchuangxin employees and management is limited, for the stability of the team, I voluntarily signed an agreement of not leaving for 10 years, not reducing and transferring equity for 10 years. Hu Weiwu said, "After the interests are tied to the market value and stock price of Xinchuangxin, it is natural to work hard in the future to make the return rate of Xinchuangxin not lower than that of staying in the group." Basically, the core management and technical team of our new Chuangxin are all tied to equity incentives and long-term interests. In addition, after the listing of the major shareholder, the incentive for the core team of Xinchuangxin is also the transfer of the equity of the listed company. The annual year-end bonus can be chosen in two ways, take the money, or take the non-tradable shares transferred by the major shareholder. ”

"No wonder you can become bigger and stronger!" the representative of Huajing Company was a little disappointed. You must know that although Huajing is a first-class semiconductor professional in the system, the salary is still not according to the market price, and most employees get a monthly salary of a few hundred yuan. It is rare to be able to get a few thousand dollars a month. After all, some of the funds currently invested by Huajing are allocated by the state, and most of them are bank loans. Since the company is basically operating at a loss, the output may not be able to repay the principal of the bank, even the interest may not be able to be repaid.

Of course, it is also an enterprise incubated in the system, Lishan Semiconductor has been relatively close to the new entrepreneurship department from the beginning, and has obtained the technical authorization and order support of the new entrepreneurship department, and the headquarters is located in Shenzhen, although it is still affected by the system, but it also does not lack the sense of market-oriented competition, and knows that only enterprises with leading efficiency in the semiconductor industry can survive. Therefore, Lishan Semiconductor, like Baosteel in Shanghai, has become a model enterprise among state-owned enterprises.

What is even more surprising to the top of the state is that at the beginning of the establishment of Lishan Semiconductor, the state only gave millions of principal and factory land, as well as bank loans and other policies. Later, Lishan Semiconductor basically relied on orders to accumulate profits and become its own. Unlike Huajing Company, which is subject to the bureaucracy's ridicule and prevarication, the project has been precipitated by the foreshadowing that it is difficult to make profits through marketization.

Previously, Minister Hu had seen the wafer factories of Lishan Semiconductor and Xinchuangxin in Shenzhen, and he was very shocked.

It only takes half a year from the establishment of a chip factory to the commissioning of a chip factory in Shenzhen. Because, before the factory project is established, the plant infrastructure that can accommodate the chip factory has been almost prepared. When the project is put into production, the equipment is in place, and the support of other experienced engineers in chip production, the yield rate of chip tape-out can exceed 30% in a maximum of one year, and the yield rate of the production line that has been put into operation for more than one year is rarely less than 70%. If the yield rate of the production line that has been put into operation for more than two years cannot reach 95%, it will become a failure case analysis.

Wuxi's Huajing Company, compared with the chip factories in the north, is the Huajing of the south. However, compared with the chip factory in Shenzhen, it is a chip factory in the north. In terms of efficiency, the project started in 90 years has not yet been officially put into operation in 94 years. On the one hand, the yield rate of the trial production is still unqualified, the cost of each tape-out is very high, and it basically does not have the ability to make commercial profits. In addition, because the production cost is very high, it is impossible to receive orders at a low price and participate in market-oriented competition, which further leads to the fact that the project has been in the experimental stage and cannot officially enter the mass production stage.

In the formal mass production stage, it is to take the money from customer orders to exercise the process, yield rate and cost control level of their team.

In short, the project preparation period was too long, resulting in the loss of competitiveness. And if it continues to drag on, the equipment continues to depreciate, and the team will not get more opportunities to exercise. Then, for the national level, the loss of this investment could increase substantially.

Now to save the 908 project, in fact, the best way is to give Huajing's newly put into production wafer factory orders, and give Huajing a chance to practice. Although the 1.2~0.8 micron process technology is backward, if you give an order to Huajing, it can train the team and reduce losses.