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Chimeo Semiconductor Summit Writes a New Chapter for China's Semiconductor Industry

2017.09.15 author:Xiamen Semiconductor

Jiwei Semiconductor Summit hosted by Jiwei, Xiamen Semiconductor Investment Group (Xmsig) and China Mobile Phone Alliance was held in Haicang, Xiamen On September 15, 2017, the theme of which was To Develop Chip-oriented Industry and Accumulate Bit Makes Too Remarkable. More than 100 CEOs of the best semiconductor companies at home and abroad (global top semiconductor companies and China’s well-known IC companies, mobile phone industry chain companies as well as the first-class smart terminal enterprises), 50 government officials/academicians/scholars/special guests, and 50 mainstream investors in semiconductor, 150 securities analysts and 100 of the most influential mass financial and technological medias at home and abroad attended the summit and shared their views on the state quo and the bright future of the semiconductor industry.


Building a Bridge between Enterprises and Capital Resources to Promote the Innovation Process of China's Semiconductor Industry


Over the past 10 years, China's integrated circuit(IC) industry has achieved rapid progress and development supported by National Science and Technology Major Projects (01, 02, 03 special projects), Outline of National IC Industry Development, Made in China 2025, Internet Plus, National Network Information Security, other policies, plans, and national key projects. Driven by the National IC Industry Investment Fund, a total fund size of 138.72 billion yuan and more than 500 billion yuan for enterprises and local industrial funds have been accumulated since September 2014. Beijing, Shanghai, Shenzhen, Nanjing, Hefei, Xiamen, Wuxi, Shijiazhuang, Kunshan, Fujian, Hubei, Anhui, Shaanxi, Guangdong, Sichuan, Liaoning and so on have set up tens of billions worth of investment funds for IC industry, and the involvement of IC industry has become increasingly popular in China.


Dozens of IC companies, such as Huiding Technology, Zhaoyi Innovation, Fuhanwei, Shengbang Stock, Guokewei and Weier Stock, have listed on China's A-share market last year. Incomplete statistics of Jiwei suggest that nearly 30 IC design companies have been listed and 70 A-share listed companies from semiconductor and component industries. Semiconductors industry and companies in mobile phone industry chain are more active than ever. China's IC concept stocks which have been formed will gradually grow. To say that the past five years are the period of growth for China's mobile phone concept stocks, it is believed that a huge explosive cycle of IC concept stocks will be seen in the next five to ten years.


70 of the most influential public fund companies, 20 insurance asset management companies and excellent private equity funds in the A-share market, which manage a total of trillions of yuan in assets, took part in the summit. It is reported that the asset securitization rate of China's semiconductor industry has risen rapidly, with a total market value of nearly 400 billion yuan. The semiconductor industry has raised funds of 22 billion yuan in A-share capital market since the beginning of 2016. Helped by low-cost financing in A-share market, small-scale companies, such as Changdian Technology, Tongfu Micro-Power and Nasta, have merged overseas mega companies and marched on the top of the industry.


China's electronics industry with semiconductor as its core is entering a period of strategic change of great development. Institutional investors have attached great importance to the investment opportunities of semiconductor industry in recent years. The share of equity in semiconductor companies is more than 35%. The share of leading companies such as Changdian Technology and Huatian Technology is much higher than that. Institutional investors have played a key role in fixed increase financing, stock liquidity improvement and stock price stability.


Jiwei Semiconductor Summit is currently the only industry leader summit facing capital in the semiconductor field in China with the aim of building a bridge between enterprises and capital resources, establishing exchanges between listed companies and investors, non-listed companies and investment institutions as well as promoting the expansion of China's IC concept stocks so as to create more opportunities for enhancing innovative capabilities of China's semiconductor industry.


The Establishment of China Semiconductor Investment Alliance to Promote the Synergy, Sharing and Optimization of Industry Capital


The summit conducted a series of splendid exchanges, including summits, cocktail parties, special interviews, artificial intelligence forum, investment forum, intellectual property forum and other prevailing application forum exchanges in the industry. The establishment of China Semiconductor Investment Alliance is the most important part of this summit.


Investment fund for national IC industry has reached 138.72 billion yuan since September 2014, while funds of enterprises and local industry have totaled more than 500 billion yuan. China's electronic industry centered on semiconductor is entering a period of strategic change for greater development. Institutional investors have attached great importance to investment opportunities in the semiconductor industry in recent years. The share of equity in semiconductor companies is more than 35% which is much lower than that of leading companies, such as Changtai Technologies and Huatian Technologies. Institutional investors have played a key part in fixed increase financing, stock liquidity improvement and stock price stability promotion. Semiconductor and capital markets in China help each other to develop.


To further support the development of China's semiconductor industry, various domestic investment funds and efficient cooperation platform are needed. By promoting industrial synergy, resource integration and information sharing among industry capitals, resource optimization, complementary advantages, information sharing, rational regional layout could be achieved and vicious competition could be avoided. Hence, the overall advantages of China's semiconductor industry capital could be strengthened without resource decentralization. China Semiconductor Investment Alliance has been set up after preliminary consultation between Jiwei and major domestic semiconductor investment institutions, such as National Grand Fund.

The Alliance will organize all domestic superior resources from semiconductor industrial capital and related fields, rely on the capital, talents, projects and market resources of participating members, resort to effective cooperation to realize the integration of superior resources, information exchanges, complementary resources, maximize the integration of industrial capital and promote the cooperation and common development among the members of the alliance to further support the rapid development of China's semiconductor industry.


There are dozens of highlights in the summit; many figures share views on the industry’s bright future


Lin Wensheng, Standing Committee Secretary of Xiamen Municipal Committee, Haicang District Committee, Li Huiyue, the Vice Mayor of Xiamen, Wu Dongmei, Director of Price Supervision Bureau of National Development and Reform Commission, Yin Yanling, Director of Antimonopoly Bureau of National Commerce Department, Ni Guangnan, Academician of Chinese Academy of Engineering, Li Manwei, CCTV producer, and Dr. Zhang Rujing attended the summit. Many industrial figures of the semiconductor industry made brilliant speeches, shared their views on the current situations and the promising future of the semiconductor industry.

Chen Datong, the chairman of Huachuang Investment Committee, pointed out that China's semiconductor industry has made great progress since 2004, rethinking is required though. The state government, local authorities and investment institutions all engage in semiconductor industrial growth, but this is a knowledge-intensive industry, which needs to improve the professionalism of decision-makers and a deeper understanding of the industry. At the same time, Chen stressed that a successful M&A does not simply mean taking a company from others. Acquisition is not difficult and integration is out of cash, but the most difficult part of M&A is about how to digest locally. The cooperation between capital resources and local leading enterprises is the key to the success of M&A.

Dr. Zhang Rujing reviewed his career and forecasted the development of IC industry in China. In view of the development process of semiconductor wafer factories in China, Zhang indicated that thinking optimistically, the increase of wafer factories' production is far from saturated. The potential overcapacity can be solved through M&A, reorganization, and active exploration of the international market. Thinking prudently, however, it is likely that the boom of semiconductor enterprises might lead to gloom and doom in the industry. Zhang stressed that as a high-input, high-risk and slow-return industry, semiconductor industry needs experienced talent team which is state-of-the-art. Local governments should advance the semiconductor industry in a calm and rational way. In addition, Zhang shared his suggestions on some issues, including the cultivation of industrial talents, technology sources, legal protection and overseas M&A.

Wang Huilian, director and general manager of Xiamen Semiconductor Investment Group, delivered a speech entitled "Differentiation Path, Tamping the Basic Industrial System of IC Industry". In his speech, he pointed out that China's IC industry has become one of the most dynamic regions in the world. It has gradually formed such industrial regions as Beijing, Tianjin, Bohai Rim, Yangtze River Delta, Pearl River Delta, as well as the emerging central and western regions and the Fujian River Delta. The establishment of the large fund has effectively promoted local capital and social organizations. Capital. However, Chinese semiconductor seems to be standing in the wind, can it fly? It seems that the Chinese IC industry, which is full of money, is seriously inadequate in terms of R&D investment and large-scale investment relying on its own strength. At the same time, under the circumstance of limited scientific and technological resources, it still supports chips by traditional means (funds, research projects). Industry lacks structural breakthroughs and weak capacity of resource co-ordination. Wang Huilian believes that all regions should combine regional resources, adhere to the path of differentiation, and seek breakthroughs in subdivision areas. For example, Xiamen, as the core of Min triangle area, is currently focusing on leading projects such as Lianchon, Ziguang, Sanan and Tongfu Microelectronics, covering chip design, manufacturing, packaging, testing, equipment and materials. Industrial chain link. In the future, Xiamen Haicang IC industry will take manufacturing industry as the first step, consolidate the basic industrial system of IC, and form an important bearing area in the development layout of national IC industry.

Dr. Zhang Rujing has devoted in China's semiconductor industry for nearly 17 years. Known as The Godfather of Semiconductor Industry in China, he has made great achievements in this field. In view of Zhang’s outstanding contributions to China’s semiconductor industry, which are universally acknowledged by the industry, he was awarded the Lifelong Contribution Award conferred by Dr. Nie Guangnan, the academician of the Chinese Academy of Engineering,


At the Semiconductor Industry Roundtable forum chaired by Laoyao, Jiwei’s founder and secretary-general of Mobile China Alliance, Zhou Ning, the general manager of Yingfutaike Venture Capital Investment Co., Ltd., Meng Pu, the chairman of Qualcomm China, Zheng Li, the general manager of Enzhipu Semiconductor China, Zhang Fan, the chairman of Huiding Technology Co., Ltd., and Sun Yuwang, the president of Zhongxinjuyuan Equity Investment Management (Shanghai) Co., Ltd., the current situation and development trend of IC concept stocks in China have been discussed. The participants agreed that China’s IC enterprises are characterized by large quantity, small scale and fragility, the future theme of which will be integration. Huge potential can be seen from IC concept stock in China in the next 15 years. However, IC enterprises develop for better products, better services and greater value, not for a bigger scale. The demand of semiconductor companies and capital leverage should be integrated organically.

A few theme forums related to hot topics in the semiconductor field have also been held in the summit. Shen Qiang, CTO and the founding partner of Jiangmen, presided over the AI Forum. Shen invited many top leaders of leading enterprises and outstanding talents of AI industry to give speeches before reshaping hot topics, analyzing trend changes and observing industrial changes related to current hot topics, core technologies and market trends of common concern.


At the investment forum, Chen Datong, CEO of Beijing Tsingxin Huachuang Investment Management Co., Ltd., presided over the conference. Some well-known semiconductor investors, such as Big Fund, Beijing Jianguang Capital, Summitview Capital, Zhongxin Juyuan as well as investment directors and executives of investment companies gathered at the forum. Many research directors, fund managers, investment managers and researchers explore new driving force and opportunities for semiconductor industry.


Intellectual Property Forum will also be the highlight of this summit. With the acceleration of local enterprises entering overseas, overseas lawsuits or 337 investigations have been many cases as early as a few years ago. In recent years, there has been an increasing trend. Huawei, ZTE, Lenovo, TCL and other telecommunications enterprises account for the majority, and semiconductor enterprises are facing increasing lawsuits. In the future, the internationalization process of local enterprises will continue to deepen. Patents should not and will not become a stumbling block that keeps Chinese companies from entering overseas. Patent litigation will become the normal business of enterprises. Patents can not only be used to improve the threshold of industry access, but also an important weapon for enterprises to protect their legitimate rights and interests.


The Mobile Phone China Alliance will invite the leaders of the Price Inspection Bureau of the Development and Reform Commission to give guidance on patent protection and abuse. Meanwhile, the head of the Antimonopoly Bureau of the Ministry of Commerce shared his views on M&A and intellectual property rights. In addition, senior experts are to be invited to share views on the strategic layout and disputes related to intellectual property rights.


Under the guidance of the Ministry of Industry and Information Technology, Tel Terminal Laboratory of China Institute of Information and Communications and China Mobile Alliance jointly sponsored the first award of China Mobile Intelligent Terminal Industry Technology Innovation Award to implement Special Action for Innovation and Development of Intelligent Hardware Industry (2016-2018) proposed by the Ministry of Industry and Information Technology, publicize the achievements of independent innovation and technological progress of intelligent terminals in China, show the rapid development of domestic intelligent terminal products, and promote the technological R&D and industrial development of intelligent terminals.. The award-winning event will be launched at the summit. There are two categories of awards for Major Technological Progress (limited to 20 people) and for Outstanding Technological Achievements (unlimited in number).