This is the best era, and the period from 04 to 07 is an absolute golden period for China and even the global economic situation.

The capital market has just come out of the recession, the economic growth of most countries and regions in the world has far exceeded expectations, there is not even a shadow of the financial crisis, major economies have entered the track of rapid growth, and cross-border direct investment is becoming more and more active.

Cross-border direct investment (FDI) hit a record $1.39 trillion in 2000, then fell to $560 billion in 2003 as the dot-com bubble fell, and began to recover in 2004, growing by more than 10 percent.

Zhou Xin is aware of the current macro environment, NewPay has expanded rapidly around the world in the past year, and the background shows that NewPay's radiation scope has covered more than three-quarters of the world's countries and regions.

In this process, NewPay has also experienced several rounds of financing, absorbing capital from different countries, such as the European Union, Neon, Gaoli, etc., Zhou Xin's shareholding in NewPay has been reduced to less than 25% for the first time, which is also the lowest proportion of shares in Zhou Xin's enterprises.

Of course, thanks to the shareholding structure of A/B shares, the control of NewPay is still firmly in the hands of Zhou Xin.

The reason why there is no Huaguo here is because the cooperation model of Huaguo and NewPay is completely different, Huaguo's state-owned capital and NewPay jointly established NewPay Huaguo, and NewPay Huaguo and NewPay are isolated in terms of equity and management.

Zhou Xin believes that thanks to the rapid growth of the global economy, Ameriken's attention is mainly focused on the Middle East and domestic elections, and he has no energy to manage China, let alone him, so he can stay at Ameriken for a year.

"Professor, is it possible for us to acquire Nippon International Electric?

I'm thinking, we tried to acquire Cyber before without getting permission from the Ministry of Commerce, this time we turned our target to Japan International Electric Corporation, is there a chance? ”

Kokusai Electric Corporation, the English name is similar to NEC, but it is actually two companies.

The English abbreviation of NEC is NEC, which is mainly engaged in memory chips in the semiconductor field, and Hua Hong Semiconductor established Hua Hong NEC in China, and was beaten by Samsung in the field of memory chips.

Yukio Sakamoto, the founder of Elpida, later joined the Chinese enterprise Unigroup at the age of 75, and the part of the inheritance that belonged to Qimonda was later eaten by Yangtze River Storage.

Nippon International Electric is engaged in semiconductor equipment, mainly thin film deposition equipment.

Hu Zhengming was on vacation in San Francisco at this time, and during the vacation, Zhou Xin talked to him about work, but Hu Zhengming did not have any rejection. Because for both him and Zhou Xin, no rest time is the norm, and they can't separate work and life.

They chatted at Hu Zhengming's house, and there were only two people in the study, Zhou Xin and Hu Zhengming, and they were not too worried about being heard by others.

Hu Zhengming shook his head, "It's difficult, Ameriken won't agree, and Neon may not agree."

Xinxin in the field of semiconductor equipment to neon is under great pressure, in the field of 130nm lithography machine, our market share has surpassed ASML, neon's semiconductor industry research association at the end of last year published a special article, the general content is to pay attention to the threat from Xinxin.

There is a shadow of the Ministry of Finance behind the neon industry research association, and their attitude is not very positive.

Coupled with the fact that Japan International Electric is leading the way in thin film deposition equipment, to complete this deal, we need to get the consent of the European Union, Neon, American, Hwakoku, Koryo and even Wanwan, which is very difficult. ”

According to the international trade anti-monopoly law, if Xinxin wants to acquire Japan International Electric, it needs to obtain the approval of the state involved in the company's business.

As a result, even though the price was negotiated, the deal was aborted.

Ameriliken Enterprises' acquisition of Neon Enterprises has not yet succeeded, let alone Huaguo Enterprises' acquisition of Neon Enterprises.

Zhou Xin said: "If it is to acquire with new chips, it is almost impossible, but what if we jointly acquire with Applied Materials? ”

To be honest, Zhou Xin never thought that he could acquire Japan International Electric by himself, because it was unrealistic, and it was an unprecedented resistance.

But it is possible for Applied Materials to acquire Japan International Electric in the future, and obtain the consent of all countries except China, and with the participation of Xinxin, it will not be a problem to obtain the consent of China.

Hu Zhengming was thinking, "There is a little possibility, if the application of materials, the resistance will not be so great."

At least Goryeo and Neon didn't dare to vote against it openly.

But if it is dominated by new chips, it is still difficult. ”

Zhou Xin said: "The dominant power can be given to Applied Materials, and even if we only need a part of the shares, Applied Materials can obtain this market, but Japan International Electric's equipment manufacturing production lines will be relocated to China and Zhangjiang one after another."

We are catching up in many chip fields, but we don't have much in the field of semiconductor equipment, except for the new core lithography machine. ”

In fact, Huaguo is almost backward in the field of semiconductor equipment, and semiconductor manufacturing is far more than the lithography machine.

Semiconductor manufacturing equipment is broadly divided into seven categories: diffusion furnaces, lithography machines, etching machines, ion implanters, thin film deposition equipment, polishing machines, and cleaning machines.

The foreign manufacturers of these semiconductor manufacturing equipment do not put their production in China, their production is in their own country, and the branch in China is mainly responsible for sales, after-sales service and other work.

Therefore, what Zhou Xin wants to do is to start this and let semiconductor equipment manufacturers put this part of production in China.

"Professor, I know it's just as difficult, but I think it's possible.

If it is the field that the applied materials themselves are originally involved in, such as chemical vapor deposition equipment, they will definitely not be willing to do so, because there are too many surfaces involved.

The acquisition of Japan International Electric is different, and the most important thing for Applied Materials to acquire Japan International Electric is economic efficiency, so that their financial statements look good and strengthen their position in the field of semiconductor equipment.

Therefore, they have no psychological burden to move the production line to China, and they don't need any other reason to move, reduce costs, and expand the Chinese market is the best reason. ”

Hu Zhengming's eyes lit up after listening to it, because what Zhou Xin said was indeed possible.

Zhou Xin said: "And with the beginning, it is very likely that all the production lines of Japan International Electric will move to China, and other semiconductor manufacturers will also set up production bases in China one after another, so that some semiconductor material manufacturers in China will have a larger market."

The entire upstream and downstream will be more prosperous. ”

After listening to this, Hu Zhengming nodded frequently: "Logically speaking, there is no problem, according to my information, Applied Materials has indeed always had the idea of acquiring Japan International Electric."

But this round of acquisition of Xinxin can't be made, we are private capital, there is no reason to let Huaguo make a move.

Whether it is Huahong or Huajing, let them talk to Applied Materials and transfer part of the production line to Huaguo, this requirement is reasonable for them, and it is not appropriate for us to mention it.

The previous acquisition of Cymer was only a purely commercial acquisition, and there was no agreement to interfere with Cymer's operation, and the Ministry of Commerce did not agree to it, so it would be very dangerous for us to make such a request again.

On the contrary, it is more reasonable for Huaguo's state-owned enterprises to mention that they only move part of the production line, and it is reasonable from the perspective of attracting investment and enriching the industrial ecology of Zhangjiang.

We can't do what Shenhai or even Huaguo should do.

We can remind Hua Guo what to do, but it should not be us to do it for him.

Just like you executed Chen Jin publicly before, to be honest, I am very relieved by Chen Jin's approach, the young man is full of spirit and spirit, I envy you.

But from my point of view, this kind of behavior is actually inappropriate, you went to get the permission you shouldn't have, but you did it in China, they asked for you, and they won't do anything to you.

In Ameriken, it's different, don't show flaws, this matter is a flaw for the new core to do, it may not be good now, and it may be fatal in the future.

Let Huahong go, and even let Shenhai's science and technology investment company go better, and package it as a local government investment promotion behavior.

As for how to pack it, I have a way. ”

After listening to this, Zhou Xin sighed that Jiang was still old and spicy, and his sensitivity in this regard was indeed not as good as Hu Zhengming.

When the strategy is decided, it only needs to be implemented, and this matter is beneficial to China.

Zhou Xin wants to take advantage of the fact that he is still in Silicon Valley to further test where the bottom line is, if I can't buy Cymer, then I can't buy Japan International Electric with Applied Materials.

After Hu Zhengming gave a better solution, Zhou Xin asked a new question: "Professor, where do you think the current bottleneck of Xinxin is?"

We haven't talked about Xinxin's strategic planning together for a long time, maybe because the technology monopoly has gone too smoothly in the past two years, and I am too far apart, and we rarely have the opportunity to exchange views and opinions face-to-face. ”

Hu Zhengming said: "The biggest bottleneck is still the limitation of advanced technology, and in many areas the Wassenaar agreement is too restrictive.

Xinxin (Temasek) started production in March this year, with two state-of-the-art process lines for 90nm process. If Huaguo can introduce a 90nm production line, we will start it at least half a year earlier, time is money.

Chip production, semiconductor equipment, chip raw materials, almost all areas have natural barriers.

This is the biggest bottleneck, and in addition, what is too smooth leads to the lack of fighting spirit of the internal personnel, and everyone is too well treated to lead to no passion and no sense of crisis, to be honest, this is all imaginary reasons.

I know that you may go back to China, and there are a lot of similar opinions in China, thinking that our treatment is too good, and the employees have no fighting spirit and lack the spirit of struggle.

The semiconductor field is always a long-distance race, experience is more important than anything else, engineers who have worked in a company for 20 years are valuable assets, passion, fighting spirit, fighting spirit These things are not important to Xinxin, we have reached an upper limit, this ceiling can not be broken by these subjective things.

To put it more bluntly, the technical barriers built by the Wassenaar Agreement cannot be broken by manpower, what we need to do is to use existing technology to achieve better yields, design better performance chips, and improve profits and efficiency, which only need to be persisted in for 20 years.

How to achieve this kind of persistence, it is necessary for employees to take care of their families first, so that they can persevere. ”

As a person who has traveled to a large number of places in Huaguo, and later founded Xinxin in Huaguo and researched a large number of enterprises in the same industry, Hu Zhengming knows the labor environment in Huaguo very well, and he is worried that Zhou Xin also has similar thoughts: he can't let employees live too comfortably.

Once this idea is put into practice, it will ruin the good situation of Xinxin.

Xinxin is an out-and-out leader in China, so Xinxin's employees are targeted by many domestic and foreign companies, and once Xinxin reduces its treatment, it is easy to be poached, and then re-cultivate talents, which will seriously affect the stability and development of the company, the semiconductor industry is different from the Internet industry, there is no 35-year-old barrier, anyone can do it.

With the same equipment, experienced engineers have a higher yield rate, and with the same research and development, experienced R&D personnel can avoid a lot of mines by experience.

Zhou Xin nodded after listening: "Professor, don't worry, as we said before, I will not interfere with the specific operation of Xinxin Technology, I will only give ideas strategically."

And as the manager of Xinxin, if you judge that Xinxin's salary system is healthy enough, then I think there is no problem.

Within our tolerance, we can also create enough benefits for shareholders, and if they are dissatisfied, you should refuse it.

I know that Hua Hong has mentioned many times that he hopes to reduce the treatment of employees, reduce R&D investment, and increase the proportion of dividends.

The control is in our hands, and they only have the power to pay dividends and oversee. ”

Huahong is also quite strange, relying on policies to eat a lot of national dividends, taking a lot of financial allocations, the development is not as good as Xinxin Technology, at the beginning of its establishment has been thinking about relying on NEC.

As a result, NEC itself is difficult to protect, and they are not satisfied with the new chips on the list, and want to get more.

Later, Huahong raised 22 billion cash in the big A listing, and it is not surprising to use this cash for financial management.

Hu Zhengming said: "I understand, I explain to Hua Hong that I don't want to be too stiff with Shen Hai, after all, Hua Hong is Shen Hai's own son."

But they are not having a good time now, SMIC is developing faster than Huahong, and I feel that my son is about to become SMIC.

By the way, Hua Hong now wants to throw all their production lines to us for escrow.

Previously, we only managed the two most advanced production lines of Huahong, and now their other production lines also want to package them for us in the form of assets. ”

During the time when Huahong was listed, Crow hit Huaqin Technology, and as a result, it plummeted by more than ten points on the opening day, making Crow lose money

(End of chapter)