It is extremely difficult to go through a long process to turn research results from laboratory products to commercial products.

It does not mean that once a technology has been validated and laboratory samples have been manufactured, it can be commercialized on a large scale right away.

Theoretical verification and the fabrication of laboratory samples can only be regarded as the precursor to the commercialization of the entire research results, accounting for about 30 to 40 percent of the entire work.

Taking the Institute of Optoelectronics as an example, their research on the lithography machine stayed at the i-line stage, that is, the 365nm wavelength light source, even if they obtained a stable light source of 13.5nm, they still did not meet the requirements of the EUV lithography machine in other key steps.

This needs to be accumulated, and because of the ultra-high treatment offered by Xinxin, the slightly younger R&D personnel in the field of lithography machines in the Institute of Optoelectronics have been almost dug up.

It's 2006, not 2026, and the words system, establishment, and stability are not so attractive to people.

The attractiveness of Xinxin as an employer in China is even higher than that of foreign companies such as Microsoft and Intel, which can be called the first choice of graduates.

"This kind of technology is not something that can be bought.

Neon has to set up an EUVA technology research and development alliance on its own, and they have no hope of buying EUV lithography machine technology from Ameriken.

Not to mention us, we have a much deeper relationship with Ameriken than neon. ”

Today, everyone knows what the semiconductor industry means, and the economic benefits of the semiconductor industry alone are the key points that cannot be ignored, let alone its benefits in other fields.

"Semiconductors are a big piece of the pie, and advanced manufacturing processes must be the most attractive part of this cake, which has the most lucrative benefits, but also has huge positive effects in terms of economy and politics.

Ameriken can snatch the cake from Neon's mouth, let alone us. ”

After Zhou Xin finished speaking, he also mentioned that Xinxin was going to join EUV LLC: "I mentioned it with Intel, and Xinxin hopes to join the EUV R&D alliance led by Ameriken, that is, EUV LLC."

We were willing to agree to more stringent conditions than ASML, and they couldn't even give me a letter. ”

After speaking, Zhou Xin explained what the conditions that Ameriken offered to ASML were.

Taking the initiative to mention this is also to minimize misunderstandings, because this is somewhat sensitive, Xinxin lithography machine was 100% a Chinese enterprise before, and you will have to sell a large number of shares to overseas shareholders later.

It is a bit duplicitous to say that it wants to launch an EUV technology alliance in China, and to join Americacan's EUV R&D alliance on the other side.

After listening to this, the big guy asked, "I can understand your thoughts."

The domestic technology accumulation in the field of EUV is almost blank, and you want to join EUV LLC, led by Americacan, to maintain the competitiveness of Xinxin in the field of lithography machines.

There is no doubt about that.

However, if I agree to engage in the EUV technology R&D alliance and Xinxin joins EUV LLC, it will be impossible for companies that have direct contact with you, or even indirect connections, to join the EUV technology R&D alliance led by China.

Because of the high risk of leakage, Xinxin joins the EUV technology R&D alliance between Huaguo and Ameriken at the same time, and Ameriken will 100% think that you have leaked secrets.

If Xinxin does not join China's EUV technology R&D alliance, who will lead it in China? Who has the ability to lead the development of this key technology? ”

Zhou Xin's speech was at a time that Ameriken's EUV LLC was also led by Intel in the early days.

Except for Xinxin, no company in China has the determination and courage to continue to invest in R&D for five to ten years.

Not to mention that with the rise of Xinxin, a number of companies in Huaguo have emerged in the field of semiconductors, but almost all of these companies belong to small and medium-sized enterprises, and they have barely gained a foothold in the past few years, and it is unrealistic for them to do a five-to-ten-year blood transfusion project.

As for Huaguo's state-owned enterprises or financial funds to go to blood transfusion, this is no problem, but if Xinxin does not participate in it at all, the EUV led by Huaguo first lacks sufficient appeal and influence of the leader, and more importantly, it does not have a market-oriented large-scale production scene.

The lithography machine developed by the Institute of Optoelectronics and Shenhai Microelectronics has never entered the production process at all, and it is impossible for them to make an EUV lithography machine that enters the production environment in one step, even if the EUV technology has achieved a breakthrough.

Zhou Xin began to sweat, he always felt that this was a bit of a taste for him to choose a side, and he could only choose one side between Huaguo's Technology Alliance and Ameriken's Technology Alliance.

The other party did not express this meaning explicitly, but this kind of thing does not need to be said explicitly.

Xinxin went to join Ameriken's EUV LLC, and then you asked me to engage in EUV's technology R&D alliance, who will lead it? Who has the power to lead?

If the new core does not come, this matter will be half the result for Huaguo.

EUV may indeed be one of the technical directions for future lithography machine breakthroughs, but in the absence of the future, this is only one of the development technology routes.

There are too many places for Huaguo to spend money, and there are too many places to catch up, Xinxin does not lead this research and development, why should they invest resources in the EUV technology route so early?

According to Huaguo's temperament of crossing the river by feeling the stones, they can wait for the successful development of EUV, which is a recognized lithography machine technology route, and then catch up.

As for now, it would be good to do some pre-research at the theoretical level and cultivate some talents with relevant foundations, and there is no need to go out in person so early.

Zhou Xin first admitted his mistake: "What you said makes sense, I thought about it too one-sidedly before."

Unexpectedly, Huaguo's EUV technology R&D alliance is not dominated by Xinxin, and lacks a bridge from the academic end to the industrial production end.

The Institute of Optoelectronics of the Huaguo Academy of Sciences and the microelectronics group of Shenhai both have lithography machine business and also produce some lithography machines, but the lithography machines they make are more laboratory products and equipment provided to scientific research institutions.

The requirements for these devices are very different from those for large-scale commercial use. ”

The big guy waved his hand: "I didn't mean to blame you for this, because I have already retired, and I even retired all last year."

So I'm glad you came to me for advice, but you still have to ask the people on stage in the end.

We've dealt with each other many times, and I know you're not familiar with the rules in China, and you're completely problem-oriented, and you're a business-oriented character, so I wanted to remind you.

You have to figure out whether Xinxin wants to join Americon's EUV R&D alliance or lead China's EUV technology R&D.

It's two paths, and you can't do both. ”

This one has retired, and now there is another big man on the stage.

But it doesn't affect Zhou Xin's entry into Beijing to find him first and then find the one on the stage, this is polite and respectful, and no one can find fault with it.

To be honest, Zhou Xin, the person on the stage now, has also dealt with him, and the other party knows Zhou Xin and his career in China very well, and supports Xinxin's work very much.

Now this one and the previous one, they are still different in their support for the new core, and now this one looks more at the economic benefits brought by the re-core, and the scientific and technological breakthroughs and technological innovations brought by the re-core.

Now this person visited Korea in 98 and visited Samsung's Gixing semiconductor factory, and also came to the conclusion that Huaguo wants to engage in semiconductors.

But for him, there is no difference between semiconductors and biomedical technology, and Chinese enterprises must engage in innovation and research and development in all fields.

Supporting semiconductors is based on economic benefits, scientific research breakthroughs, enterprise innovation and other fields.

As for the previous one, that is, the one Zhou Xin was looking for this time, because he was born in the Department of Mechanical and Electrical Engineering, he single-handedly led the establishment of Huajing and Huahong, and has a broader perspective on semiconductors.

It's the difference between experience and background.

Zhou Xin nodded: "What you said makes sense."

If Huaguo wants to engage in EUV technology alliance, then Xinxin will not let go, and we will participate in Huaguo's technology research and development. ”

The big guy nodded: "Okay, with your words, I will help you promote this matter."

Even the distribution of money can be handed over to Xinxin to do.

You just mentioned the difficulty of developing EUV technology, and mentioned that both Neon and Ameriken have been investing in EUV since the 80s.

If we want to do this, we still take five years as a time period, and we are not in a hurry to produce results in the early stage, and I don't think we can have any good results in five years if others have not done it for more than 20 years.

As long as the money isn't spent where it shouldn't, I don't think it's a problem.

What I want is to let the Natural Science Fund provide this money, and by the way, they will do the supervision and audit, and then Xinxin will do the project gatekeeping and fund allocation, and you will decide which research groups and which professors will be given to this special R&D fee.

As a leader in the industry, I think you have the ability, and I also believe in your academic ethics and conduct. ”

Zhou Xin's decision to make this decision is actually very simple, it is very cool to participate in Ameriken's EUV Technology Alliance, and after squeezing in, it is equivalent to directly enjoying the ready-made results of others.

Americacan's research institutions have done almost it, and the laboratory product ASML has been made, and after Xinxin joined, it was nothing more than following ASML's path.

Zhou Xin relied on his own understanding of the technical evolution route and key nodes of the EUV lithography machine, made some optimizations on this basis, and then used the industrialization scale advantage of Xinxin to take at least half of the country in the EUV lithography machine.

This is a complete peach picking practice.

But the problem is that Xinxin has come up with an EUV lithography machine, which also relies heavily on external components.

When the outside world wants to engage you, Xinxin will lose the ability to manufacture EUV in an instant.

Of course, it is only the loss of future manufacturing capacity, but the EUV lithography machine before Xinxin can still be used.

Then, because there is a foundation, it will be less difficult to go through the research and development of EUV again.

But at that time, it is also necessary to lead enterprises in China to do EUV technology research and domestic substitution.

If you start doing it now, you will also do it, which is nothing more than that after ASML achieves a breakthrough in EUV technology, Xinxin will temporarily lose the advanced process market for a period of time.

This is an acceptable loss for Zhou Xin, and Xinxin can also accept it.

Zhou Xin said: "I think it can.

When I was talking to Intel before, I mentioned that Xinxin Lithography Machine could sell 49% of the shares to them.

Now Xinxin dominates this industry alliance in China.

What I want is to let Xinxin's lithography machine plate be listed on the A-share market, firstly, the funds raised will be fully invested in the research and development of EUV lithography machines, and secondly, it will also allow Chinese shareholders to participate in the development of technology-based enterprises.

In the past, the companies under my name were either listed on the NASDAQ or the Hong Kong stock market, and they had never been listed on the Big A.

This is also an opportunity to feel the capital market with Chinese characteristics. ”

"Whether you want to raise funds in A-shares or how to raise funds depends on yourself.

With such a high-quality asset as Xinxin, there is no shortage of capital to invest in at home and abroad.

Of course, I welcome the A-share listing, and Huaguo's capital market has always lacked truly innovative enterprises.

Xinxin's ability to be listed on A-shares is also a shot in the arm for A-shares, which means that you are optimistic about the domestic capital market, which is not bad. ”

Zhou Xin went to Yanjing for a run, and after chatting with the bigwigs who wanted to talk, almost everyone agreed that Xinxin wanted to dominate the domestic EUV technology research and development alliance.

How much Huaguo invests in this technical route, Xinxin will invest the same amount, the Natural Science Foundation Committee will invest 1 billion, and Xinxin will invest 1 billion.

The news that Xinxin is going to be listed in the big A is also spreading rapidly in the financial circle.

"Have you heard? Xinxin intends to be listed in Big A. ”

"Really? I haven't heard that when a company of Xinxin's size goes public on Big A, I'm afraid it will instantly drain the liquidity of Big A.

With so many business segments, $20 billion in revenue, and $5 billion in profits, this market value is not skyrocketing.

With such a large amount of IPO project, can A-shares undertake it?

Why don't you go public on the NASDAQ? ”

Xinxin's largest source of profit is the A series chip, followed by the Bluetooth chip, and the third is the mobile phone integrated chip, which is the three main sources of profit.

In the chip foundry business, Xinxin has done very little, almost only helping Intel foundry.

As for the consumer electronics business, it is not profitable at all, and even considering the cost of capital, this business is losing money.

Xinxin involves too much business, because doing chip design and chip manufacturing at the same time is equivalent to taking over the work of TSMC and Qualcomm.

Although the revenue of 20 billion US dollars, the profit of 5 billion US dollars is not high, like TSMC's revenue of 30 billion can make a profit of 15 billion.

But considering that most of the enterprises in China do not make money, taking TCL as an example, this is the largest manufacturing enterprise in the big A, with a revenue of more than 50 billion yuan and a net loss of 230 million in 05 years.

Therefore, Xinxin is a rare high-quality asset for Big A.

"Of course not, how can the entire new chip be listed in the big A.

It's just one of Xinxin's businesses, the lithography machine business, which intends to be listed in Big A.

It is the lithography machine that achieved a technological breakthrough at the Tokyo Semiconductor Show, and it belongs to the upstream equipment of semiconductors.

Xinxin plans to separate this piece and take it to the big A listing. ”

(End of chapter)