In recent years, driven by the investment fund of the national integrated circuit industry, the semiconductor integrated circuit industry has drawn a wave of investment boom. According to the industry analysis, under the impetus of the three major factors such as strong national support, domestic chip import substitution, and growing demand from emerging industries such as artificial intelligence, driverless and wearable devices, the integrated circuit industry in China will usher in a turning point in growth.
At present, China's electronics industry with semiconductor as its core is entering a period of great development. China Semiconductor Industry Association statistics, the first half of the semiconductor industry sales of 220.13 billion yuan, an increase of 19.1%.
It is understood that China has become one of the most dynamic regions in the world for the integrated circuit industry and has gradually formed the Beijing-Tianjin Bohai Rim region centered on Beijing, the Yangtze River Delta region centered on Shanghai and the Pearl River Delta region centered on Shenzhen In the industrial area, the sales revenue of the three major industrial agglomerations accounted for over 90% of the entire industrial scale. Among them, the IC industry in Shanghai achieved double-digit growth in 2016, with sales revenue exceeding 100 billion yuan for the first time, reaching 105.3 billion yuan.
The three major industrial clusters also have their own focus: the Bohai Rim focuses on chip research and development, the Yangtze River Delta region focuses on chip manufacturing and packaging and testing, while the Pearl River Delta region focuses on chip design. Nowadays, a batch of integrated circuit enterprises with certain international competitiveness have emerged such as Haisi, ZTE Microelectronics, Huada Semiconductor, Silan Microelectronics, Datang Semiconductor and Beijing Vimicro Microelectronics.
At the same time, the semiconductor industry has also become an area of concern for capital markets. In the past three years, driven by the IC investment fund, the IC industry has drawn a wave of long-term investment craze.
Data show that currently more than 20 integrated circuit design companies have been listed, there are 70 semiconductor and component industry, A-share listed companies, a number of listed companies leveraging the A-share market overseas mergers and acquisitions. Institutional investors accounted for more than 35% stake in semiconductor companies, some even higher.
It is noteworthy that the large-scale investment in the IC industry chain in this round of investment boom has played an important role. On September 24, 2014, a large fund (National IC Investment Fund) was jointly established by CDB Finance, China Tobacco, Yizhuang SDIC, China Mobile, Shanghai Guosheng, China Electrolytic Corp., Ziguang Communication and China Winsin. After the establishment of large funds have gradually with the micro-semiconductor, SMIC, Ziguang Group, the three photoelectric, Big Dipper, Silan Wei and other companies signed an investment agreement.
While increasing investment at the national level, the support of local governments has accelerated the full-scale production of the semiconductor industry. It is learned that at present billions of IC investment in the IC industry have been set up in Beijing, Shanghai, Shenzhen, Nanjing, Hefei, Xiamen, Wuxi, Shijiazhuang and Kunshan as well as Fujian, Hubei, Anhui, Shaanxi, Guangdong, Sichuan and Liaoning Funds, large funds total size reached 137.28 billion yuan, the scale of enterprises and local industry funds accumulated over 500 billion yuan.
With the help of multiple factors, the semiconductor industry has entered a stage of rapid development. In the opinion of Wang Yanhui, the founder of WeChat, if the past five years are five years for the growth of China's mobile phone concept stocks, the concept stocks of ICs will usher in a huge eruption cycle in the next five to ten years.
However, in response to the surging industry investment boom, CRE Capital Investment Chairman Chen Datong called on the industry to remain calm. He said the problems in the semiconductor industry are not simple acquisition issues, but how to digest productivity and localization issues, but capital markets lack inexperience and lack of motivation. Therefore, by the power of capital is not enough.
For example, Datong Chen said that CRE Capital acquired a company that could completely market it and make money. However, if the localization of "this leg" is lacking and the local market and supply chain are not doing well, the market certainly will not get up.
"The only way is to be sure to cooperate with the leading domestic enterprises.Our integration is not in order to cash in the capital market, but to find a suitable company to integrate with it to promote these two convergence." Chen Datong said the enterprise Localization is the real PE should do.
In addition, the industry is also worried that more competition for the layout of the integrated circuit industry will lead to vicious competition.
In response, Zhang Rujing, founder of SMIC, said that the semiconductor industry is a highly-invested, high-risk and slow-return industry. All local governments need to calmly and rationally develop the semiconductor industry. He suggested that various types of semiconductor industry investment funds should be effectively organized to promote synergies, resource integration and information sharing among industry capitals by building an effective cooperation platform, optimizing resources, complementing each other's advantages, exchanging information, rational regional distribution and avoiding vicious competition , Enhance the overall advantage of China's semiconductor industry capital, and avoid the scattered resources.
According to Wang Hui Lian, general manager of Xiamen Semiconductor Investment Group, "the research and development investment and capabilities of the semiconductor industry are also seriously inadequate." He said that China's IC industry has become one of the most dynamic regions in the world. Semiconductors seem to stand on the vents, but a serious lack of corporate R & D investment. In addition, in the case of limited scientific and technological resources, the chip industry is still supported by traditional means and methods, with a lack of structural breakthrough and weak resource pooling capability.
Zhang Rujing agreed with this. He believes that the biggest problem in the semiconductor industry is not money, nor is it lack of market and government support, but talent. "In the short term, a large number of semiconductor chip factories will start in China and where will the talents come from?" Zhang Ru-jing said that if people dig from other chip factories in China, they are "digging the wall to make up the Western Wall" and this will cause staff instability, Unable to accumulate experience, difficult technical heritage, resulting in no guarantee of product quality.
He suggested that from the very beginning, enterprises should use their own developed technology to protect themselves with sufficient patents and authorized IPs.
In addition, although there are a large number of domestic semiconductor companies, they are small in scale and vulnerable. Experts said that from the perspective of the entire industrial chain, the earliest developed only light asset design company. Therefore, we should strengthen the applications and designs that have advantages, at the same time, fill in the shortcomings of materials and so on.