China's Integrated Circuit industry investment fund has recently shot

Abstract: The state integrated Circuit Industry investment Fund (Pro Fund) recently repeatedly shot, not only jointly with the long electric technology, SMIC's wholly-owned subsidiary of the Core Electric power Shanghai set up a company to acquire the world's fourth largest packaging testing company Star Division Jinpeng, the same period also to the domestic chip

The state Integrated Circuit Industry Investment Fund (hereinafter referred to as the "big Fund") has recently been repeatedly shot, not only with the long electric technology, SMIC wholly-owned subsidiary of the Core Electric power Shanghai set up a company to acquire the world's fourth-largest packaging testing company star Branch Jinpeng, also to the domestic chip equipment manufacturers in micro-semiconductor equipment (Shanghai) Co., Ltd. (hereinafter referred to as " Medium Micro Semiconductor ") invested 480 million yuan.

An industry source told the first financial daily that large funds may also be involved in mergers and acquisitions of well-known chip dealers Marvell mobile chip business. The news has not been officially confirmed, but Marvell's sale of the handset chip business has circulated in the industry, and recently broke news of China's electronic information industry group and Intel's bid.

"Big fund more play is the catalyst role, through 120 billion drive local capital, industry capital investment." "Yanhui, Secretary-General of China's mobile phone, said in an interview with the reporter that through the capital to help China to seal mergers and acquisitions, investment in wafer manufacturing and equipment manufacturers, not only to support a number of companies on the scale, while making up for domestic industrial weaknesses.

Big fund starts landing

Last October, the Ministry of Public Information official Weibo announced the establishment of "big Fund" news. The future will be the use of equity investment and other forms, focus on investment in integrated circuit chip manufacturing, while taking into account the chip design, packaging testing, equipment and materials industries. and participate in the local establishment of industrial investment funds, appropriate layout of other important industries, improve the overall income.

Reporter from the State Administration for Industry and commerce, the state integrated Circuit Industry Investment Fund Co., Ltd. has a "large fund" ownership. The company registered capital of 5.8318 billion yuan, by the Ministry of Finance Division director Wang Jianfu as a legal representative.

The only investment management of "big Fund" is the newly established Hua Core Investment Management Limited liability company last year (hereinafter "Hua Core investment"), Lu Jun Investment President, Hua Yuan, said last year that "big fund" will be in place in batches, the first batch of capital raising may exceed 120 billion dollars. In addition, the Fund will be hosted through the National Development Bank.

It is reported that the "big fund" the first batch of fund-raising return period of 10, of which 2014 ~2019 years as investment period, 2015 after the maturity of the work, the average annual investment over 20 billion yuan. The Ministry of Industry has said that the purpose of setting up "big fund" is to adapt to the industrial characteristics of large investment and high risk of IC industry, crack the bottleneck of IC financing and innovate the institutional mechanism of industrial investment.

Semiconductor is currently the core of equipment manufacturing enterprises, its products include 15 to 28 nm coupling plasma media etching machine, micro-semiconductor customers are currently including TSMC and other chip manufacturers.

Public data show that the 2014 sales of micro-semiconductors reached 420 million yuan, an increase of 40%, equipment exports increased by 60%, in addition, its 2013 pan-semiconductor equipment exports of 189 million yuan, accounting for the national total exports of 64% of such products.

Long electric technology is China's largest testing company, 2013-year income of 850 million U.S. dollars, ranked sixth in the world. Star Division Jinpeng 2013 revenue of 1.599 billion U.S. dollars, the world ranked fourth. Core electric power Shanghai, long Electric Technology, big fund respectively 100 million U.S. dollars, 260 million U.S. dollars, 150 million U.S. dollars to set up 100% holding companies, the acquisition of Star Branch Jinpeng completed, long electric technology instead of its global rankings.

Major investment in wafer manufacturing

"China's IC industry is driven by the terminal industry, IC design, the most close to the market, the overall level from the international level is also the closest, and grew up a group of companies including the exhibition, Heiss chip leading enterprises." Designed to drive the seal test and wafer manufacturing, and then drive equipment manufacturing. "Yanhui said.

The equipment manufacturing enterprise provides the core and the supporting equipment for the chip manufacturing enterprise, but also is the weakest link in our country's entire industry downstream.

The sales of medium and micro semiconductors are only 420 million yuan, while applied Materials company's net sales for the year 2013 are as high as 7.51 billion dollars. Applied Materials, the world's largest maker of chip equipment, last September spent 9.39 billion of billions of dollars on acquisitions of Tokyo Electronics, a Japanese chipmaker.

Yanhui told reporters that the leading equipment manufacturers in the field of companies mainly in Europe and the United States, and even with the world ranked by the former wafer factory in Taiwan, the gap in the equipment manufacturing field is also larger, not only the volume difference between the company is huge, the key is by foreign enterprises hold the core patent.

The first investment of "big fund" is not its main investment area-wafer manufacturing. Some industry insiders believe that this may be because of the gap in the consideration, but also coincided with the two companies need to support the timing of the investment in the future or wafer manufacturing.

Wafer manufacturing investment is very large, venture capital generally unwilling to involve, basically rely on government support to get up. 120 billion of funds appear to be large, but it may be billions of dollars to build a wafer manufacturing plant. The function of industrial investment fund is mainly to promote the investment of nongovernmental funds through government funds, and to play a guiding role. "Yanhui said.