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Chinese chip companies have delisted in the United States Because home have FuChiJin?
Chinese chip companies have delisted in the United States Because home have FuChiJin?
Because of the feeling in the United States investment circle of "love" too little, plus money from the Chinese government incentives, is part of China not fabs chip companies ready to exit from the Nasdaq stock market (Nasdaq), to return home when the state-owned enterprise.
Spreadtrum (Spreadtrum Communications) and RuiDi (RDA Microelectronics) is the Chinese government actively foster local beneficiaries of semiconductor industry (by investment companies of China's official background purple light group);Shanghai chip industry: science and Technology (Montage Technology) has also been recently another Chinese investment institutions behemoth, trading is due out this fall.Actions Semiconductor integration (Actions Semiconductor) also seem to follow the trade, but still no news.
Now may be called is no China fabs chip industry "in the second stage revolution".China currently no fabs chip market lacks continuity conditions, too many small manufacturers rushing into the local Chinese smartphones, tablets, low profit, set-top boxes and other application market;For out of the vicious competition without fabs chip industry needs a new focus, more distinct differentiation, and fewer but more patient investors, may also need a few more sophisticated enterprise managers.
Through privatization, those chip industry will become China's state-owned enterprises, and have the opportunity to obtain government funding;But this strategy doesn't guarantee success, also can only say that China has no fabs chip industry growth and profits, because hope to achieve in the latest manoeuvres.
Global Semiconductor union (Global Semiconductor Alliance, GSA) Asia Pacific chief executive chih-li Wang (Jeremy Wang, said China's Semiconductor industry out of the us financial market is a foreseeable trend, a decade ago, China's first seek equity public offering (IPO) of the fabs Semiconductor industry, local can't find the suitable financial market in China: "now the Chinese government began to attach importance to innovation and technology research and development in the field of Semiconductor, also play a key role."
Chih-li wang pointed out that some of China's stock market "ever-victorious army" (such as real estate industry and financial industry), because the new laws and regulations and national policy focus and growth slows, so you need to add some new Chinese stocks: "the semiconductor industry is also an option."
Headquartered in Shanghai, spreadtrum, because in the early days of the td-scdma modem chip on research and development and rapid growth, has become the first to be purple light group into one of its chip industry.Purple light group 51% stake is belong to Tsinghua Holdings (Tsinghua Holdings), which was founded by Tsinghua university in Beijing, one hundred percent of China's state-owned enterprises;Purple light group of the remaining shares belong to private health investment group, head for wei-guo zhao.
Spreadtrum in July 2013, agreed to be purple light group for about $1.78 billion buy-out of transactions completed in December.Also in last summer, purple light group signed an agreement additionally, buy Chinese RF chip design companies RuiDi division;Purple light group is interested in this spreadtrum merged with RuiDi section, if the plan succeeds, China is likely to appear a enough with Taiwan IC design companies MediaTek (MediaTek) rival chip design company, but maybe couldn't match hsintien, Qualcomm, Qualcomm).
But with spreadtrum RuiDi families have both in a few years ago in the nasdaq stock market public offering of the company, it seems to be talking about merger some resistance, must first solve the internal problems (reference: RuiDi, spreadtrum merging? Source: earlier).Learned, purple light group has been done in last month to RuiDi's $907 million acquisition, and spreadtrum merger with RuiDi secco will indeed is a state-owned enterprise.
Some people think that purple light group buy is pure investment behavior, the investment institutions will be in a short period of time with spreadtrum RuiDi after merger of company in China's stock market public offering;But there are also people who believe the behind the scenes of the Chinese government is actively cultivate local government industry in operation.As for the other Chinese no fabs chip companies such as the volunteers (Allwinner), core and the future development of micro (Rockchip), remains to be seen.
Political action?
China industry this year, Shanghai has no fabs chip design companies: science and Technology (Montage Technology), become another Chinese state-run investment agency of the pudong district of Shanghai science and Technology investment co., LTD. (PDSTI) targets.: science and technology to provide a set-top box applications of analog/mixed-signal chips, as well as large memory capacity of the server application memory interface chip.
: technology and PDSTI already reached the final agreement in June, the latter to $22.60 a share acquisition: all the stock;Acquisition has won: shareholders agree, but it remains to be the competent authority for review and final approval.
PDSTI intends to acquire: news exposure in March when shocked the Chinese electronics industry, many sources believe that this is a political operation, because it said PDSTI was also interested in buying headquarters are in Shanghai spreadtrum and RuiDi division, but in the end the two companies were purple light group from Beijing "scoop" robbed;The PDSTI would never allow: again fall into the hands outsiders.
Then its actions integration plans to company in two and exit the U.S. stock market, but success is uncertain.This GSA chih-li wang said the actions of two different business units, P&L model of the product life cycle, perhaps separate, to some extent is a good thing, can reduce the friction between each other;But he also warned that companies split also may make actions originally the core resource of power loss.
The semiconductor industry need state support
It is reported that China plans to invest $100 to $15 billion a year since 2015, cultivate local chip industry, time could last 10 years (some say five years);This chip industry in China are in want to tricks make government subsidies.And Chinese government funding may be established through funds rather than to distribute assignment way, the foundation committee by professional investors, management oversight, the object of judgment worth the investment.
Although the Chinese government subsidies for chip industry fund details are still in the negotiation phase, obviously some state-owned investment institutions such as purple light group and PDSTI has begun to take action, spreadtrum, RuiDi with rings on the acquisition of technology is an example.The chih-li wang said that the semiconductor industry itself is a kind of state-run colour strong industry, although can see a lot of success in the market of global manufacturers, they all need strong support from governments policy.
Spreadtrum (Spreadtrum Communications) and RuiDi (RDA Microelectronics) is the Chinese government actively foster local beneficiaries of semiconductor industry (by investment companies of China's official background purple light group);Shanghai chip industry: science and Technology (Montage Technology) has also been recently another Chinese investment institutions behemoth, trading is due out this fall.Actions Semiconductor integration (Actions Semiconductor) also seem to follow the trade, but still no news.
Now may be called is no China fabs chip industry "in the second stage revolution".China currently no fabs chip market lacks continuity conditions, too many small manufacturers rushing into the local Chinese smartphones, tablets, low profit, set-top boxes and other application market;For out of the vicious competition without fabs chip industry needs a new focus, more distinct differentiation, and fewer but more patient investors, may also need a few more sophisticated enterprise managers.
Through privatization, those chip industry will become China's state-owned enterprises, and have the opportunity to obtain government funding;But this strategy doesn't guarantee success, also can only say that China has no fabs chip industry growth and profits, because hope to achieve in the latest manoeuvres.
Global Semiconductor union (Global Semiconductor Alliance, GSA) Asia Pacific chief executive chih-li Wang (Jeremy Wang, said China's Semiconductor industry out of the us financial market is a foreseeable trend, a decade ago, China's first seek equity public offering (IPO) of the fabs Semiconductor industry, local can't find the suitable financial market in China: "now the Chinese government began to attach importance to innovation and technology research and development in the field of Semiconductor, also play a key role."
Chih-li wang pointed out that some of China's stock market "ever-victorious army" (such as real estate industry and financial industry), because the new laws and regulations and national policy focus and growth slows, so you need to add some new Chinese stocks: "the semiconductor industry is also an option."
Headquartered in Shanghai, spreadtrum, because in the early days of the td-scdma modem chip on research and development and rapid growth, has become the first to be purple light group into one of its chip industry.Purple light group 51% stake is belong to Tsinghua Holdings (Tsinghua Holdings), which was founded by Tsinghua university in Beijing, one hundred percent of China's state-owned enterprises;Purple light group of the remaining shares belong to private health investment group, head for wei-guo zhao.
Spreadtrum in July 2013, agreed to be purple light group for about $1.78 billion buy-out of transactions completed in December.Also in last summer, purple light group signed an agreement additionally, buy Chinese RF chip design companies RuiDi division;Purple light group is interested in this spreadtrum merged with RuiDi section, if the plan succeeds, China is likely to appear a enough with Taiwan IC design companies MediaTek (MediaTek) rival chip design company, but maybe couldn't match hsintien, Qualcomm, Qualcomm).
But with spreadtrum RuiDi families have both in a few years ago in the nasdaq stock market public offering of the company, it seems to be talking about merger some resistance, must first solve the internal problems (reference: RuiDi, spreadtrum merging? Source: earlier).Learned, purple light group has been done in last month to RuiDi's $907 million acquisition, and spreadtrum merger with RuiDi secco will indeed is a state-owned enterprise.
Some people think that purple light group buy is pure investment behavior, the investment institutions will be in a short period of time with spreadtrum RuiDi after merger of company in China's stock market public offering;But there are also people who believe the behind the scenes of the Chinese government is actively cultivate local government industry in operation.As for the other Chinese no fabs chip companies such as the volunteers (Allwinner), core and the future development of micro (Rockchip), remains to be seen.
Political action?
China industry this year, Shanghai has no fabs chip design companies: science and Technology (Montage Technology), become another Chinese state-run investment agency of the pudong district of Shanghai science and Technology investment co., LTD. (PDSTI) targets.: science and technology to provide a set-top box applications of analog/mixed-signal chips, as well as large memory capacity of the server application memory interface chip.
: technology and PDSTI already reached the final agreement in June, the latter to $22.60 a share acquisition: all the stock;Acquisition has won: shareholders agree, but it remains to be the competent authority for review and final approval.
PDSTI intends to acquire: news exposure in March when shocked the Chinese electronics industry, many sources believe that this is a political operation, because it said PDSTI was also interested in buying headquarters are in Shanghai spreadtrum and RuiDi division, but in the end the two companies were purple light group from Beijing "scoop" robbed;The PDSTI would never allow: again fall into the hands outsiders.
Then its actions integration plans to company in two and exit the U.S. stock market, but success is uncertain.This GSA chih-li wang said the actions of two different business units, P&L model of the product life cycle, perhaps separate, to some extent is a good thing, can reduce the friction between each other;But he also warned that companies split also may make actions originally the core resource of power loss.
The semiconductor industry need state support
It is reported that China plans to invest $100 to $15 billion a year since 2015, cultivate local chip industry, time could last 10 years (some say five years);This chip industry in China are in want to tricks make government subsidies.And Chinese government funding may be established through funds rather than to distribute assignment way, the foundation committee by professional investors, management oversight, the object of judgment worth the investment.
Although the Chinese government subsidies for chip industry fund details are still in the negotiation phase, obviously some state-owned investment institutions such as purple light group and PDSTI has begun to take action, spreadtrum, RuiDi with rings on the acquisition of technology is an example.The chih-li wang said that the semiconductor industry itself is a kind of state-run colour strong industry, although can see a lot of success in the market of global manufacturers, they all need strong support from governments policy.
