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The Second Semiconductor Summit——Topic Summit

2018.09.01 author:Xiamen Semiconductor

On the morning of August 31, the 2018 Microsemiconductor Summit was officially held in Haicang, Xiamen. The Summit focused on "the vane of industrial capital", with thousands of participants. Among them, more than 350 enterprises, 129 investment institutions and leaders of nearly 20 cities/development zones/high-tech zones from all parts of the country participated in the Summit.


The Summit includes guest lectures and two round-table forums. The Round Table Forum focuses on two topics: self-improvement, the source of China's IC development and growth, and the ever-changing investment in semiconductor industry. The following is a dry goods collection of the Summit:

Speech segment

The Founder of Jiwei: Jiwei serves the government as well as the industry

With the development of China Semiconductor in the past 10 years, the growth of Chimnet has been accompanied by the growth of China Mobile Alliance, unlike many media. In 2010, many companies received a letter from Nokia's lawyers. More than 40 domestic mobile phone companies gathered in Shanghai to establish the Mobile China Alliance, which was founded entirely based on private demand and market driven.


With Chinese companies becoming bigger and stronger and going overseas, patent licensing has become a necessary barrier. The Mobile Phone Alliance strengthens the cooperation between the industry and the government in the mobile phone industry, uses the public rights of the government to ensure that the Chinese industry marches overseas reasonably, legally and orderly, and avoids unreasonable harassment from overseas.


The development track of mobile phone industry in the past ten years is also the development track of China's semiconductor industry in the next ten years. The mobile phone industry has begun to carry out global layout, and the semiconductor industry will go overseas sooner or later.


China Semiconductor Investment Alliance was established at Jiwei Summit last year. The idea is to transplant the experience of China Mobile Alliance into China's semiconductor industry. In the year since the founding of the Semiconductor Investment Alliance, we have strengthened our cooperation with various ministries and commissions, such as the Development and Reform Commission and the General Administration of Market Supervision. That's why Jiwei is different from other media. When we face the government and the ministries, all of you here are our strong support. On the contrary, the power of the government can also bring some promotion to the industry.


Looking back on the development of integrated circuits in China, many traditional IC enterprises are too low-key. With the intervention of more capital in these two years, the new generation of entrepreneurs will have a lower cost of obtaining capital, a higher starting point and a greater change in the whole industrial ecology.

Wang Huilian, Director and General Manager of Xiamen Semiconductor Investment Group Co., Ltd., said that "rushing to the top" is not conducive to the development of semiconductor industry.

The ZTE incident has taught our country, especially Trump, a vivid lesson about the problems and gaps. Our economic and social development and industrialization process, especially involving our country's industrial security and information security, we must face the integrated circuit industry has no retreat and no shortcut.


We should support industries that can be developed in areas where conditions permit. We should not "rush to the top". The over-hype of systematization and platform of capital hot money is not conducive to industrial development. From the development stage, we are not poor in money, but our mismatch of resources, which brings a problem at the same time, is our excessive capital speculation, which is not conducive to technology transfer, technology accumulation, talent accumulation and brand accumulation. Especially the accumulation of technology and talents.


China's semiconductor industry, which seems to have no shortage of money, suffers from structural resource mismatch and lack of R&D resources to support the development of enterprises. Enterprises are short of innovative thinking and talents. No matter what field an enterprise is in, it is an inevitable law that it can't get up without ten years'effort.


AI's business model is more suitable for the industrial ecology of Internet platform and whole system. The whole system and Internet platform company may be the driving force of AI application, rather than the chip manufacturer. For enterprises, do not blindly follow-up, especially small and medium-sized start-up enterprises must be cautious in entering this field.

 

Diao Shijing, Co-President of Ziguang Group: It takes 10 or even 30 years for IC industry to develop.

At present, the domestic integrated circuit industry emphasizes strategic demand and import substitution, which is the inevitable trend of industrial restructuring and upgrading, that is, to shift to the core of the value chain. From the national point of view, integrated circuits are the ultimate battlefield for manufacturing powers, and they are also fundamental in the whole economic transformation.


How to develop integrated circuits still needs the industry to think calmly. For the future development of the industry, some suggestions and appeals are put forward: first, solid accumulation is needed. Like building, its trial and error costs are very high, so we must lay a good foundation. Everyone is willing to make fast money, but this can not solve the problem of the industry. If they want to do so quickly, they will lead to serious vicious competition, which will not only raise the cost of the whole industry, but also make everyone very impatient, which is very harmful to the development of the industry. It will take ten or even thirty years for the industry to really develop. Second, respect intellectual property rights. Through the two-wheel drive strategy of "independent innovation + International cooperation", Ziguang Group carries out extensive international cooperation and Cross-authorization with international mature enterprises. At the patent level, we all have some overlaps. We must follow the rules, abide by international norms, respect international law and protect trade secrets. Third, we should focus on breakthroughs at the basic chip level. From the experience of IC industry development in Japan and Korea, it is from the continuous investment of basic chips, such as storage, CPU or mobile phone chips, that the whole industry leaps forward and the industrial foundation and ecology are constructed. If we want to overtake on a curve in China, we should seize the next opportunity, but the foundation is still to do well in basic research and development, or we will follow others forever.

Round Table One: Self-improvement, the Source of China's IC Development and Growth

Ruixinwei Chairman Li Min: There are two problems in China's semiconductor industry: lack of talents and overheating of funds.

The first person is the core. No one in this industry can't do it. But we found that there are 30 people in our ranking, more than 100 in Korean companies and more than 200 in Qualcomm. Lack of qualified personnel is also a feature of China's semiconductor industry. Second, there's a lot of money now, but the icing on the cake is more than the charcoal in the snow. Industry is most afraid of overheating, our Chinese people are most afraid of people coming crazy, crazy on the collective chicken blood. The collective movement was horrible. Others will come step by step steadily and steadily. I just visited Samsung, Korea, and returned home. I have many feelings. I think China's semiconductor industry needs people who stand on top of the world. What's called the top of the world? The top priority is to make technological breakthroughs bravely. Site is to do industry and manufacturing steadfastly. It's very hard to manufacture in China, and the government needs to save it at the critical moment. The first is to reduce personal income tax; the second is to build dormitories for employees.

 

Wu Xiongang, Chairman of Arm China:

From an investment point of view, the industry is not very favored by investors. A paragraph is often posted on Wechat: With the heart of selling white powder, you get the price of selling cabbage. From Arm's point of view, we've seen partners'shipments grow more than a hundred times. However, we should also see that the growth rate of output value is not so fast, and there are still some bottlenecks in the output value and profit margin of the whole industry.

 

Zhang Fan, chairman of Huiding Science and Technology Co., Ltd.

From design and development to revenue, it takes 5-6 years, which includes technical and market uncertainties. Self-innovation is like walking at night. Full-screen mobile phones, for example, are the future trend. But last year, Apple canceled fingerprint recognition technology and switched to 3D face recognition, leading to uncertainty among many manufacturers. Whether this road works, whether it has a good user experience, and the uncertainty of market and technology are all challenges. We have to endure hardships and tribulations and work with investment institutions to bring more wonderful experiences to consumers around the world.

 

Yu Renrong, chairman of Weier Stock Co., Ltd. said that the market alone is not good. In the final analysis, the competition of semiconductor technology between China and foreign countries is the competition of technology. Otherwise, customers will not be able to make good terminal products with your technology.

At present, the possibility of Chinese mergers and acquisitions of European and American companies is not very likely, only to merge some new start-ups. In addition to mergers and acquisitions, China also needs to increase investment in technology through capital. The most important role of capital is to support mergers and acquisitions, such as the acquisition of OV by Weier shares.
Now China has enough money for semiconductors to acquire leading technology by purchasing excellent foreign companies. At the same time, the talent spillover of foreign companies after M&A is also an opportunity for China Semiconductor. In short, China Semiconductor will continue to cultivate, I believe that in 10-20 years, there will certainly be hundreds of billions of dollars in market value of enterprises.

 

Dai Weimin, Chairman of Xinyuan Stock Company: IP design is difficult to replicate, so we must have our own accumulation. Next, we must increase investment in IP research and development, improve IP design ability, and strive to achieve world-class.

There are two problems in China's semiconductor investment: one is that the investment risk is high and the rate of return is low. IC design companies may not be able to produce products for several years, and the capitalists are unwilling to invest in the semiconductor industry; the other is the protection of intellectual property rights. The talents that the company spends energy on training may take away the core technology to create new companies, and vice versa. The state should protect intellectual property rights by fighting price war on its own.


Our biggest advantage is that the application market in China, most of our chips rely on imports, there is a lot of space to replace imports, which is a good aspect. For China's semiconductor companies, we still need to cooperate to establish a sound ecosystem and coordinate development.

Round Table Forum II: Changing Investment in Semiconductor Industry

Chen Datong, Chairman of Yuanhehua Venture Capital Committee:

There is a consensus in the investment community that "we can not follow suit and not follow the bubble". When the draught comes, it will blow the pig to the sky, but the wind will come quickly, and the pig will fall down. For the investment community, we should consistently adhere to the principle of rational investment, not following the trend, not making fun, not following the stars, rejecting high valuation and false high valuation.

 

Huang Qing, Managing Director of Walden International:

Semiconductor industry is a global industry. It is not only China's industry, but also China's back-end role. The enterprises that really promote the development of the whole industry are not in China. It can be said that there is still a long way between China and the international semiconductor industry. However, many innovative products are emerging in China, which are constantly narrowing the gap with international enterprises.

 

Capital Finance CEO Ben Jinfeng:

For the semiconductor industry, the most important thing is to establish good capital market rules. A large number of government investment intervention may cause a lot of trouble. For the government, the most important thing is to strengthen the construction and provide a good market environment for the whole semiconductor capital market.

 

Zhou Ning, General Manager of Yingfutek:

ZTE is a great science popularization for the whole Chinese industry. It has a great influence, a deep level and a wide coverage beyond many people's imagination, but it is a good thing for the investment community. The whole semiconductor industry is a globalized industry chain. It is impossible for China's semiconductor industry to make up all the shortcomings in a short time. More attention should be paid to doing well what it can do.

 

Sun Yuwang, President of Zhongxin Juyuan:

Semiconductor industry is an industry that needs a lot of money and long-term investment but has a slow effect. Although the influx of large amounts of capital has led to high valuation of some enterprises, it has both advantages and disadvantages. The disadvantage is that if the valuation is too high, once there is no strong financial support and no outstanding performance in the later period, it is very easy to cause the difficulty of obtaining the next wave of financing. In the future, investment in semiconductor industry will gradually become rational.