Thunis group announced after the end of October to nt $19.4 billion to buy Taiwan semiconductor testing giant force into a 25% stake, announced on December 11 to nt $56.8 billion to buy silicon 24.9% stake, with nt $11.97 billion to buy south alum 25% stake.
Silicon products for manufacturers, Taiwan's second-largest semiconductor testing after day advanced semiconductor, shigeru force into and south respectively the third and fourth largest semiconductor packaging test manufacturer in Taiwan. Purple light move immediately detonate, Taiwan media have Taiwanese officials say the move as "led soldiers into pass". On the surface, the island's blue and green divided on the matter and bigwigs have different comments - Eric chu resolutely opposed; Tsai ing-wen said be careful handling; Soong says support.
The root cause of local to Taiwan
In the global division of labor, the United States not only with IBM, Intel, AMD, nvidia, qualcomm, micron, sandisk technology company, has Applied Materials, Lam Research, KLA Tencor semiconductor equipment company, such as in the semiconductor industry chain upstream.
Companies such as Western Europe with the ARM, Inmagination, ASML, shelter-forest in industry chain. Taiwan, South Korea has TSMC, companies such as samsung, umc, in the middle and lower reaches of the industrial chain. Once strong after Japan economically trying to challenge the United States is increasingly marginalized, and Japan after the "plaza accord" financial blood, and factors such as Japan have ushered in the "lost twenty years".
Although most complete industry chain, and mainland China but the IC design companies and most of semiconductor equipment maker not a climate, nowhere close to competing with the international giant. A classic example is a delegate with lenovo "assembler" and represented by foxconn taiwan-funded foundries, thus in the downstream industry chain.
And after more than 60 years of development, China increasingly strong economic capital, especially the state-owned economic efficience, and huge volume, no longer meet the immersed in low end of the industrial chain, ACTS as a sweatshop, it is imperative to climb to the upstream industry chain.
There are two kinds of manufacturing industry to upgrade, is a kind of self-reliance and hard struggle. Advantages can be fully exercise a number of technical personnel, technical system and independent, the disadvantage is that the risk is bigger, a longer period. Another is acquisition of related businesses, the advantage is the ability to direct access to have certain technical foundation of enterprise and talent reserves. But the disadvantages are obvious, a wholly owned or holding is hard to do, it is hard to technology, talent and research center, or transfer to the mainland factory. 2 it is to be acquired enterprise many existing enterprises compete with China, is likely to stifle the development of technology. Because three is a shareholder, rather than purchasing, so have to overseas capital Shared interests...
Purple light chose the road of the acquisition, through acquisitions overseas high-quality semiconductor companies, for the whole of China semiconductor industry, realize the transformation and upgrading of manufacturing. In Europe and America market increasingly weak, under the condition of the Chinese market is thriving, capital and markets become China's biggest bargaining chip in overseas companies.
Acquisition of silicon products, where force, south MAO jian means
Chip manufacturing through design, production, testing three steps. Although encapsulation and test of integrated circuit output of 10% 15%, but it is a key element in chip manufacturing, using lithography after stacking substrate, the kernel, heat sink together, formed the day meet chips; Test can identify the key features of each chip, such as the highest frequency, power, calorific value, etc., and determine the chip level.
Although the IC test industry in mainland China in 2014 sales revenue scale is 123.85 billion yuan, up 23.8% from a year earlier. But the mainland principle is given priority to with foreign or joint venture enterprises, domestic enterprises in terms of scale or technology still has certain gap. Purple light every purchase the second, third, fourth largest testing enterprises in Taiwan, to integrate resources, on both sides of the strait into integrated circuit testing field.
For Taiwanese companies to invest in Taiwan, the purple lights is also great opportunities.
Because Taiwan and South Korea semiconductor industry is the result of the United States deliberately support, is also the embodiment of the United States to maintain dual suppliers. South Korea, Taiwan advanced foundry to Europe and the United States, is the export-oriented economy, in today's Europe and the United States economic recession, under the background of China's economy continued to be strong, Korea and Taiwan manufacturing industry more and more dependent on the Chinese market.
At the same time, under the government's vigorously support, not only local businesses thrive, Intel, samsung and other international companies and investment on the mainland - Intel invested $1.6 billion of chengdu plant wafer pretreatment, packaging and testing services to conduct a comprehensive upgrade, and Intel's latest "high-end test technology" into China, and will go into mass production in the second half of 2016. Can say, the rise of China semiconductor industry has been overwhelming, if the Taiwan authorities continue to boycott China blindly, it is likely to repeat the mistakes of the panel industry, even in the future by active marginalized in the international industrial division of labor in China, becoming the second Japanese (is likely to be worse than Japan, after all, the Japanese system more perfect, more abundant technology and capital).
And purple light to buy companies in Taiwan, on the one hand, added a lot of money to the Taiwan enterprises, make Taiwan companies have more abundant capital to upgrade technology, updating equipment, improve market competitiveness; On the other hand is also open to Taiwanese companies with the most potential and vitality of the mainland market, make Taiwan enterprises can share the mainland economic development dividend, realize the people ", the advocacy "on both sides.
As for the "China wants to control Taiwan testing industry lifeblood...... smash the entire semiconductor industry for 35 years of Taiwan semiconductor industry gradually into the red landscape" words are pure Taiwan media, such as "groundless" the wise, but true reflect part of the islanders' glass heart ".
In the choice of equity market object is not only in Taiwan
Seeking truth from facts, the mainland capital to invest in Taiwan is an opportunity to give Taiwan a mutually beneficial and win-win, rather than depend on Taiwan.
Compared with "exchanging market with technology" of the 80 s, purple light, the practice can be referred to as the "market for shares" and companies is not the only option for mainland capital, rather than to defend Taiwan, mainland China is relatively more open South Korea, Singapore and other places of testing enterprise is a better choice - long telegram technology (600584, shares) $780 million acquisition of Singapore's family chippac is an example of can draw lessons from.
And mainland semiconductor companies in Europe and America is in need of capital, such as has been the acquisition of global purchase, and transfer technology and talent to the mainland OV and figure the core technology.
Xiao-guang ma said, is to resist the cross-strait economic cooperation and development trend, it is not for man's will. We hope that Taiwan's economy, social justice, objective and rational regression itself, to look at, including cross-strait industrial cooperation and mutual investment on both sides of the Taiwan cross-strait economic cooperation, this really is good for Taiwan's economy and industry development, and public welfare in Taiwan.
Seize the mutually beneficial and win-win, or stuck in the past come undone, the wisdom of political leaders on the Taiwan authorities.
