Alternative interpretation: Chang fear into Li second

Source: Internet
Author: User
Keywords nbsp TSMC Smic mainland Li

SMIC and TSMC years of litigation finally ended in settlement, the results of the core international compensation TSMC 200 million U.S. dollars, grant 10% of the shares, CEO Chang was dismissed, the same news, the same result, the mainland and Taiwan media has given a different interpretation, The question is whether China's international or mainland companies in the past few years have been bought by TSMC, as the Taiwanese media read, as part of the TSMC mainland market.

for Huawei to marry clothes Li

A few years ago, Li, a successor to Ren, founded the Harbor Network, although at the market level to Huawei, not because of the failure of intellectual property financing listed, eventually had to be Huawei Low-cost acquisition, Li Entrepreneurial not, the opposite for Huawei did marry clothes, 2000 Chang left TSMC to mainland China to start, Today's core international performance, although poor, for the mainland integrated circuit industry contribution can not be ignored, now SMIC and TSMC because of intellectual property rights and trade secrets reconciliation, SMIC transfer 10% of the shares, Chang will become Li second? Old Yao believes that this possibility is not ruled out.

Chang going to be Li second?

Some people think that SMIC and TSMC reconciliation, the mainland integrated circuit industry at least ten years, this view of whether or not, the old Yao do not comment, 9 years ago Chang ambitious mainland founded SMIC, although TSMC's lawsuit has been ridden, and did not block the pace of the international development of SMIC, Chang is said to have long believed that the case with TSMC is difficult to win, and therefore has been proposing to reconcile with the other, but in SMIC's board of directors still dominate (of course, it is not ruled out because a law firm in order to promote the high Commission of the knowledge), after all, to judge the outcome of As the founder of the company and the Chang should know more, but unfortunately 2009 years of Chang has been difficult to control the Board, the result as Chang expected, SMIC loses.

If only because Chang resigned, SMIC lost, Chang also really hard to become Li second, but in the terms of the settlement in the core international transfer 10% shares is very likely to make SMIC into the mainland of the future, although the Taiwan media believe that SMIC has offered to sell its shares to TSMC, Discerning eye still can see certainly is not so, if only because SMIC is underfunded, with 10% of shares value calculate, its amount also only will not surpass 200 million dollars, the face of 400 million dollar indemnity and 200 million dollar plus 10% shares TSMC more willing to the latter to show that TSMC is not short of money, 10% Shares behind the ambitions of TSMC to swallow SMIC's future.

A friend might think that TSMC holds only 10% of the shares, as long as the current major shareholder Datang Telecom and Shanghai Industrial Future unwilling to sell, TSMC still difficult to achieve the acquisition of SMIC's dream, but the careful analysis is not so, under the current Taiwan law, TSMC's possession of SMIC's 10% stake is not legal, TSMC is still doing so, only to show that, based on the company's judgment on the future of SMIC, SMIC is likely to continue to slump, to do the worst, even if the future TSMC acquisition is not, because the benefits of holding SMIC shares is also obvious, before because the two sides are competitors, Many mainland customers in the SMIC film is always secretive, do not want to because in the SMIC stream film offended TSMC, now the mainland microelectronics company in the SMIC stream film, fear will be further aggravated.

Considering the worst situation, TSMC's plan is very likely to be achieved, Wang inherited Smic must face inevitable turnover, according to the media, SMIC chief operating officer Marco Mora and the legal chief has resigned, and SMIC more than 1000 Taiwanese employees occupy the majority of management positions, In the event of a massive turnover (or TSMC's high-tech temptation), SMIC is very difficult to recover in a short period of time, leaving the tide even lead to such as Qualcomm's big customers fleeing the consequences, as the old Yao before a few article analysis said, Chang in SMIC's biggest mistake is not a large number of mainland cadres to enable, This is also Wang will face the biggest challenge, because the lack of the backbone of the mainland, once the Taiwanese staff leave, the lack of exercise of the mainland backbone is difficult to supplement in a short time, performance will certainly be greatly affected, it is true, once Taiwan's law to open up the investment in the mainland, SMIC's existing shareholders are entirely likely to abandon the declining SMIC, even if it is entrenched, TSMC has lost its biggest competitor on the mainland, as SMIC's layout in the mainland has been completed, and although the decline of SMIC's value for TSMC remains, the result TSMC would have loved, really, Chang to be Li the second is difficult.

In order to settle the analysis of 200 million dollars in the reconciliation of the two parties, also shows that TSMC's ambitions for SMIC, 3, 8, 3, 3, 3,2010 year SMIC will pay TSMC 80 million U.S. dollars, this payment will certainly bring great pressure on the King Ningguo, 2010 SMIC has lost people and, timing, What is the hope of SMIC recovery, with only the land the mainland government has nurtured?

The question is, once SMIC becomes a subsidiary of TSMC, is SMIC a mainland company? If not, the early Chinese government, including local governments, tens of billions of of investment will be wasted, 2009 as the mainland company SMIC from the nuclear Gauki received hundreds of millions of Yuan fund will also become TSMC's wedding dress, really so the mainland integrated circuit industry will be back ten years of the argument is not alarmist.

Of course, TSMC's idea is based on the SMIC will sink, if Wang can lead the SMIC to glory, SMIC is still the core of the mainland international, but the transfer of 10% shares at any time will become the core of the international bomb, let people worry about the future of SMIC.

As of the completion of the finalized, SMIC's shares in Hong Kong have been set up to compensate for TSMC's $200 million trillion in SMIC's 63%. The worry is not sensational (author, Lao Yao)




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Tags: SMIC, Chang, Li




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