ICCAD again today at the meeting, 2016, general manager of national integrated circuit industry investment fund Ding Wenwu said that in 2015 China's IC design industry sales achieved 25% growth, that figure will reach 26.1% in the first half of this year, with big data, such as artificial intelligence, intelligent vehicle field of rapid development, the IC design industry bring enormous room for growth. National big fund investment commitments so far more than 68.3 billion yuan, the actual investment of more than 35 billion yuan, promoting social investment more than 150 billion yuan, each place has set up a integrated circuit the total fund has more than 200 billion yuan.
Integrated circuit design branch director professor shao-jun wei said, compared with 5.8% of the world's integrated circuit industry downturn, China's integrated circuit industry is still to maintain double-digit growth in the first half of the year. A 80.1% increase in the number of Chinese design. Sales revenue in 2016 when the industry is expected to reach 151.852 billion yuan, up 23.4% from 2015.
Old man doesn't deny the progress of China's IC industry over the past few years, such as represented by haisi, purple light show sharp IC design industry status in the global industry over the past few years more and more high, on the import of new technology, new process has stood in the forefront of the world, the national big fund for fostering industry backbone enterprises also began in earnest, but the mainland capital for overseas mergers and bring greater concern, although these mergers and acquisitions in the short term to whitewash all revenue Numbers, but has the potential risks or will appear gradually in the coming years.
With the well-known international private equity funds such as blackstone, compared to the majority of Chinese industry fund it is undeniable that there is a lack of operation of integrated circuit industry experience, Beijing set at northern acquisition on iML exclusive permission, at the beginning of the talks will lock at very reasonable $136 million will be the Exar on iML $two hundred million into a bag, and the other a famous Chinese fund in bidding for another U.S. chip enterprises through many times for the merger was completed in a very high price, on the acquisition core employee turnover and listed on the mainland to postpone, acquisition of a sharply increased risk.
With the securities and futures commission to generalized regression audit is more and more severe, and in the short term to flipping through acquisitions listed private equity fund or government funds the operation of the space is smaller and smaller, if the acquisition of enterprises lack of professional management and incentive mechanism, the core employee turnover, profit margins will become inevitable trend, the mainland fund has just acquired a European semiconductor equipment factory by turning losses is one of the representative, Beijing set at northern acquisition on iML was able to successfully completing the acquisition integration and achieve revenue, profit growth, mainly because of management and incentive mechanisms inspired by acquisition of the employee's sense of belonging.
If private equity fund just lack of experience or luck, many local governments more funds involved in the integrated circuit industry show a growing number of bubbles and risks, experiences of fujian spends a DRAM industry itself doesn't even have a professional operation team, like wuhan new core hefei wants with the aid of the force are notorious in jiangxi jing achieve industry boom, force wafer fabs in Taiwan are not full capacity, and how to guarantee the profit of the hefei new fabs, as for the crystal LCD driver and jingdong plate factory synergies, particularly in fully market-oriented today jokes, crystal in jiangxi large debts but go to, of cutting changed hands again won the huge plant in hefei.
GlobalFoundries joint venture set up 12 inches fabs in chongqing, chongqing obtained backward technology introduction, through huge subsidies deco yards semiconductor $3 billion 8 inch wafer plant construction in nanjing 2 bridge, 12-inch wafer plant 1, and let the personage inside course of study in a same package test factory.
If nantong Fujitsu buy AMD testing factory is successful m&a, long telegram technology acquisition star families jinpeng directly drag long telegram to the mire, and the results Wang Xinchao out not only, still have to introduce smic as large shareholders, hoping to smic mature management team to recover, encapsulation test management requires professional team, a wafer foundry and storage, some local governments in mainland of crowding into these industries will only bring local huge risk of financial black hole.
Latest news GlobalFoundries incredibly quote us $30 billion to the mainland, if by some local governments for buying, will become the laughing stock of the integrated circuit industry. Acquisition GlobalFoundries mainland, objectively speaking only smic also have the power and ability, those who support the so-called integrated circuit industry of the local government or less further deranged.
As for the design industry with the highest growth in ten cities, more without any substantial meaning, China's overall revenue increase IC design is not much, just these revenues were repeated computation in different cities, this figure can only explain a problem, China too many local governments for their own interests in whitewash achievements of individual officials, costumed figures are hidden under the greatest risk.
State funds to prop up the backbone enterprise not wrong, just lack of experience and luck if private equity fund, many local governments fund ignorance and fear will bring more bubbles and integrated circuit industry risk, unlike large aircraft, integrated circuit industry in the world have completely marketization, since be market-oriented, governments should consider is how to professional operation, rather than short-term performance advantage.
