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1. Vibration core technology signed 335 million yuan nuclear high base major contract to promote industrialization of radio frequency R & D;
Set micro-grid news, December 20, Chengdu vibration core technology announcement that the recent company and the core electronic devices, high-end general-purpose chips and basic software products National Science and Technology major project implementation and management office (hereinafter referred to as 'state key project management office' Signed a contract of "major project of nuclear high base" with a total amount of 334,699,900 yuan, accounting for 76.65% of the total revenue of the Company in 2016.
It is reported that the main content of the contract to complete the 'converter' development and industrialization, Chengdu Zhenxin technology will be the contract involved in the project leading unit, while the other four units in the industry involved in this contract projects involved in the performance of the contract period January 2017 to December 2020.
Vibration core technology, said the signing of this contract, marking the company in the RF chip R & D and industrialization continue to maintain the leading domestic level, the performance of this contract will further accelerate the company in the field of technological innovation and industrialization progress, the company has the development Long-term strategic significance.
2.MLCC shortage of goods: rational view of the high-end is a wise move;
Set micro-mesh news, MLCC all the way to the end of this year, the end of the year, with the arrival of 2018, due to the new expansion is expected to mass production by the end of 2018 this year, the entire MLCC tight market conditions will continue in 2018.
Shenzhen Yu Yang Technology Development Co., Ltd. Deputy General Manager Li Jing, general manager of marketing center in an interview with micro-set reporters said that this year, the general price of bulk capacitors prices, MLCC prices are soaring, some of which single MLCC price rose much more than expected, is expected to MLCC shortage tide by 2018 will be basically eased.
Triggered by the three major incentives, MLCC gap long delivery period
'There are currently two types of MLCC out of stock the most serious, namely the high capacity and the largest amount of MLCC.' Another supply chain manufacturers pointed out that at present more than the average MLCC out of stock, and even niche MLCC also in short supply, of which The most missing is the high voltage medium voltage products.
In fact, the MLCC industry will not talk about the peak season in the fourth quarter of each year, but it is still rare to see such a busy quarter as the fourth quarter of 2017. It is understood that so far many MLCC OEMs have been fully loaded with capacity but still have inventory days Decline, delivery extension of the situation.
Industry sources said MLCC is so popular in the second half of this year, mainly smart phone wireless charging market demand, because Apple's latest iPhone led to a sudden surge in wireless charging applications, which is completely unexpected.
Followed by the expansion of the use of LED lamps by major automobile manufacturers to boost the demand for MLCCs for LED lighting and headlights.In addition, the power management products for quick charging of smartphones have also increased significantly, which has also contributed to the passive components since the second half of 2017, MLCC out of stock important factor.
Wireless charging MLCC required capacity gap is not expected supply chain vendors.Jing said that as wireless charging led by Apple, the end of the second half of the terminal market began explosive growth, unlike the MLCC in other electronic devices Application, the application needs of these years there has been a certain number of base, but the wireless charge at once the market soared, iPhone X and other new standard wireless charging concept is the most critical background.At the same time, wireless charging required MLCC itself Can do is only Murata, solar induction and TDK and other Japanese original factory can do, other original manufacturers technology and production there are still distances, which led to the entire market supply and demand is not balanced.
In addition, as Murata, Taiyo Yuden and other Japanese manufacturers to high-end MLCC products, release low-order and second-tier high-end products, but also increased the market out of stock, lengthening the delivery cycle .Taiyuan original giant country, At present, the niche-type MLCC gap of up to 20%, the country's giant supply and demand gap is still up 15%, and inventory point of view, the giant stock turnover days about 65 days.
Rational view of the stock market boom, 5G, IoT market demand for more high-end
Although the supply of raw materials needed by MLCC is worry-free at the moment, delivery has obviously lengthened, and the raw materials such as dielectric powder and other raw materials in the upper reaches of MLCC are going to be quite rapid. The market supply and demand are still unbalanced. However, Huaxinke, Wo Shintang and other shares hit a new high, is facing further upward pressure, Fenghua Hi-Tech shares as well, which to some extent reflects the capital side of the MLCC shortage of goods has become increasingly rational view.
The supply chain manufacturers said that Japanese manufacturers just because of the general MLCC profit outlook is not good to withdraw from this area, to a more high-end niche product line.Taiwan and the mainland original factory can not rely on low-level long-term technology, At this stage you should learn from Japanese manufacturers to high-end technology research and development.Many factory like Murata, Taiyo Yuden and other Japanese origin is also considered because of the general low profit outlook MLCC poor, so exit this area, to the more high-end Niche product line.
At this stage, in the wireless charging, fast charging, car LED lighting market driven, MLCC original production capacity is almost full.However, the original factory is also very clear, low-margin low-margin products, even if the shipment surge , A certain increase in the company's revenue, but in the long run, a large number of low-middle-margin products do not mean significant.
As for the out-of-stock price hikes, the supply chain manufacturers pointed out that in fact the prices of customers may not pay, especially the long-term cooperation of large customers is difficult to talk about the price.So MLCC Although the rise, but the original and the customer Transaction price may not be calculated according to price increases announcement.
Overall, Taiwan and the mainland original factory, the Japanese manufacturers switch to high-end products, release low-end and second-tier high-end products, to some extent, increase revenue, but increase research and development, enhance technical strength, ability In the future, PC / NB industry's MLCC demand growth only slightly, the market increase is still smart phones, power management, car-based, while in the Internet of Things and the eruption of 5G era The coming MLCC will be put forward new technical requirements and materials needs, so to enhance their own technology and refined materials formula, as soon as possible to narrow the technical strength of Japanese manufacturers, not for the current shortage of craze, aim at Maori Higher MLCC products, is a wise move.
3. National Technology Resumption: Deceived 500 million filing doubts about the proposed purchase of 2 billion lithium assets
National technology suspected of being deceived by 500 million yuan of principal is decided to resume trading on December 20.
On the evening of December 19, the National Technology Co., Ltd. announced that it will resume trading on the morning of December 20. Meanwhile, the company also disclosed the progress of the social fund investment incumbents and the company's promotion of assets Latest information on purchases.
- Regarding the incident of disengagement, National Technology claimed that the Company found that the relevant personnel of Qianhai Flag Long and Beijing Qi Long had lost contact on November 28, 2017 and reported the case to the public security organ urgently on the same day. At present, the Company actively cooperates Public security organs of the investigation and evidence collection work, on the other hand continue to contact the former flag Qian Long, Beijing Qilong relevant personnel, as soon as possible to verify the reasons and status quo of its loss as of this announcement, the company has obtained the public security organs' "However, notice has yet to be obtained whether the public security organ will file a case.
November 29, National Technology announcement that the subsidiary Qianhaiqi Long established subsidiary of Beijing Qi Long Pharmaceutical Co., Ltd. and the National Technology wholly owned subsidiary of Shenzhen Qianhai Guo Min Investment Management Co., Ltd. set up an industry investment fund - Shenzhen Guotai Qi Xing Industry Investment Fund Management Center (Limited Partnership), the national investment has invested 500 million yuan total, but at present, Qian Haiqi Long, Beijing Qilong related personnel lost contact.
In the announcement on December 19, Guomindang asserted that in the Company's financial statements, Guotai Investment contributed RMB500 million of Shenzhen Guotai into the available-for-sale financial assets such as Qianhai Qianlong and the related losses of Beijing Qilong Further evidence of the joint event and objective evidence of impairment may cause listed companies to make impairment losses on assets, which will have a material adverse effect on the realization of the net profit attributable to shareholders of the listed company in 2017 and result in a loss of 2017 results.
This is a big blow to national technology.
As of the close of November 28, the total market value of the national technology was only 8.8 billion yuan. From 2006 to the first three quarters of this year, the net profit of the national technology in the past 10 years alone was only a few hundred million yuan.
- However, in this critical moment, National Technology has thrown a plan of assets reorganization, the assets to be bought or the current more popular lithium battery assets.
According to the National Technology Announcement on December 19, in order to promote the strategic development of the Company, the Company planned the purchase of assets and planned to purchase the subject of the new energy industry, the transaction amount is expected to not exceed RMB2 billion. After preliminary negotiation, the purchase of Shenzhen Snow The trading plan of Industrial Development Co., Ltd. (hereinafter referred to as 'Signed Company' and 'Snow Industrial') did not meet the criteria in Article 12 of the Measures for the Administration of Major Assets Reorganization of Listed Companies. The Company decided to continue the asset purchase transaction Matters.Applied by the company, the company stock since December 20, 2017 resumption of trading.
According to the announcement, Snow Industrial Co., Ltd. is a national high-tech enterprise that specializes in the research, production and sales of anode materials for lithium-ion batteries. After years of development and focus, Snow Industries has formed a strong competition in the anode materials market for lithium-ion batteries Advantages, as the main lithium-ion battery anode material suppliers.
Snow Industries existing products mainly artificial graphite, both a small amount of composite graphite products. Artificial graphite has been widely used in power batteries and high-end digital batteries. So far, Snow Industrial has a total of 29 patents, including invention patents 10 Items, utility model patents 19. Subject of the company's artificial graphite anode material has won the 'key new products in Jiangxi Province' and 'national key new products' such as the honorary title of power battery anode material projects are classified as' Guangdong High-tech Technical Products' and 'National Torch Plan Industrial Demonstration Project'.
According to the announcement, Snow Industrial's audited major financial data are as follows: As of December 31, 2016, the total assets of 452,149,700 yuan, net assets of 187,812,700 yuan in 2016 to achieve operating income 292,725,200 yuan, net profit of 73,514,200 yuan.
National Technology said in this transaction, Snow Industrial's major shareholders and National Technology and its top ten shareholders in the property rights, business, assets, debt and personnel there is no possible or has caused the company to tilt its interests.
According to the announcement on December 19, Snow Industrial's legal representative is Bao Haiyou and the registered capital is 53,333,330 Yuan. Bao Haoyou is the largest shareholder with a shareholding of 48.75% and Mr. Chen Jianghong ranks second with 18.75% of the shareholding In addition, the company's shareholders, but also include Dongguan Hongtu Venture Capital Co., Ltd., Shenzhen Innovation Investment Group Co., Ltd., Small and Medium Enterprise Development Fund (Shenzhen Limited Partnership) and other state-owned investment institutions, as well as listed companies Zhejiang Hurray Cobalt (79.200, -0.96, -1.20%) Co., Ltd.
However, National Technology also reminded that the final plan for the purchase of assets subject to the Board of Directors, shareholders considered the general meeting, there is the possibility of change or termination.
4. Chairman Wangzhan Fu: large funds to promote rapid technological and industrial indicators;
The establishment of an industrial investment fund to support the development of a strategic industry is a major institutional innovation that has drawn the attention of all parties since it was established on September 24, 2014. The National Integrated Circuit Industry Investment Fund (hereinafter referred to as the "Grand Fund" or the "Fund") What are the significant achievements in fund investment? What are the problems facing sustainable development? What are the ideas for the next step of work? What valuable experience has been accumulated? Recently, on the above issues, the reporter interviewed the National Integrated Circuit Industry Investment Fund Co., Ltd. Chairman Wang Zhanfu.
'By supporting the development of strategic industries through the establishment of industrial funds, we can both realize the will of our country and meet the requirements of strategic industries for long-term investments, and make use of the fund mechanism to effectively avoid the drawbacks brought by traditional support methods such as direct state grants or direct investment by the state.' Wang Zhanfu said that the ICIC actively explored the combination of national strategies and market mechanisms in diversified fundraising, corporate governance, management structure, investment decision-making mechanism, strategic positioning of investments and balanced returns. It has significantly improved the competitiveness of integrated circuits The whole industry chain competitiveness, and has accumulated a lot of experience and good practices.
Rapid formation of investment capacity
Promoted the synergy between upstream and downstream
Wang Zhanfu said that over the past three years, under the guidance of the leading group and offices of the national IC industry and the relevant ministries and commissions, the large fund management and operation team strictly implemented the requirements of the "Outline of the National Integrated Circuit Industry Development Promotion Program" and intensified the efforts in the design, manufacture, Packaging and testing, equipment and materials and other aspects of the investment layout to support key enterprises to break through the key technologies, promote synergy and sustainable development of the production chain.
In accordance with the principle of separation of ownership and management, the large-scale fund has designed a two-tier management structure and set up the National Integrated Circuit Industry Investment Fund Co., Ltd. (hereinafter referred to as' Fund Company ') and Huaxin Investment Management Co., Ltd. (hereinafter referred to as' Management company '), the fund company entrusts the management company to act as sole manager to undertake the fund investment business.The two companies quickly establish a sound corporate governance structure and management structure, set up management team, and actively carry out investment decisions and project implementation .As of 2017 On November 30, a total of 62 large-scale fund effective decision-making projects involving 46 companies, the cumulative effective commitments of 106.3 billion yuan, the actual contribution of 79.4 billion yuan, accounting for the first phase of the total size of 77% and 57% of the actual contribution of large funds Part of the direct drive of social financing more than 3500 billion yuan, to achieve nearly 1: 5 amplification effect. Fund has promoted the establishment and shares of the Beijing Manufacturing and Equipment Sub-Fund, Shanghai IC Manufacturing Sub-Fund, Shanghai Design and M & A Sub-Fund Many local sub-funds, driven by this, Hubei, Sichuan, Shaanxi, Shenzhen, Anhui, Jiangsu, Fujian, Liaoning and other places Funds have been proposed or have been set up sub-funds, with a total total size of more than 300 billion yuan.ICC industry investment and financing bottlenecks have been initially alleviated, confidence in industrial development has been greatly boosted.
At present, the large-scale fund covers all aspects of manufacturing, design, packaging and testing, equipment materials, and other sectors of the industrial chain with the committed investment of 63%, 20%, 10% and 7% of the total investment respectively. Give full play to the role of capital link, as the industry chain has been cast all the major shareholders of the company to promote the strategic cooperation between upstream and downstream business. Large Fund actively guide Ziguang Zhaoyuan, Zhongxing Microelectronics and other design companies to strengthen cooperation with SMIC and other chip manufacturers, SMIC's share of domestic customer revenue increased from less than 20% in 2009 to about 50% at present; vigorously promote the application of the products of such equipment enterprises as CSIC, North China CRE, Shanghai Silicon Industry Group and other equipment enterprises in the domestic production line, In the semiconductor SMC plasma etching machine in SMIC 40 nm and 28 nm production line share of 50% and 30%, respectively, in Shanghai Huali production line up to 35%, Shanghai silicon industry 12-inch wafer test piece has been to SMIC, Huali and the Yangtze River to send samples.
Technical and industrial indicators improve rapidly
Leading enterprises bigger and stronger
In accordance with the overall positioning of achieving the national strategic goal in a market-oriented manner and based on its own characteristics in a long-term large-scale investment platform of a single industry, the ICF continuously explores investment strategies and investment paths, and innovates the investment and financing system Mechanism to crack the bottleneck of industrial financing.From the actual results, the fund investment significantly enhance the overall strength of the leading domestic enterprises to promote enterprises to increase investment in equipment, research and development, mergers and acquisitions to help companies improve corporate governance and standardize internal management, in the Significant progress has been made on key technologies and core products, further narrowing the gap with international advanced enterprises and greatly boosting the confidence of the industry in investment.
After three years of exploration and practice, the fund has made remarkable investments and Wang Zhanfu has listed a series of gratifying figures.
- Major leading enterprises in the design industry have been laid out, Zigui Zharui, etc. have launched 5G core chip research and development, advanced design level of 16/14 nm.
- Manufacturing advanced technologies, memory, specialty processes, compound semiconductors and other major areas have been laid out. The good rate of SMIC's 28nm polysilicon gate process products has reached 80%. The Yangtze River Storage 32-layer 3D NAND flash memory chips will provide samples by the end of 2017 , 64-layer process began to develop.
- Leading enterprises in IC packaging and testing industry have all laid out their layout in support of Changjiang Electronics Technology Co., Ltd., acquiring MFGC's international mergers and acquisitions, acquiring advanced international packaging technology and production capacity, and Changjiang Electronics Technology Co., Ltd. becoming the third largest IC packaging and testing industry in the world, 14-nanometer bump package has been mass production.
- Equipment materials industry in the etching machine, 12-inch wafers and other key areas have been the layout.
Large funds in the industrial chain links the first three companies accounted for more than 70% of investment, effectively promoted the core competitiveness of leading enterprises.Wang Zhanfu example, the large fund has focused on investment in the Yangtze River Storage, SMIC, Huali, San'an Optoelectronics, Ziguang Zengrui, Changjiang Electronics Technology and other leading enterprises, each in the 5 billion yuan to tens of billions of dollars or so. SMIC has 22 consecutive quarterly earnings, revenue, gross profit, profits are record highs; long Electrical Technology, Ziguang Zhan Rui were ranked third in the world IC packaging and design industry, the design industry 10. At the same time, actively promote the integration of industrial resources to create large-scale integration of leading integrated circuit manufacturers to promote the country's largest integrated circuit manufacturing SMIC and the largest After the reorganization plan was approved by the CSRC in March this year, the Company completed the reorganization and integration quickly and proactively promoted the integration of Qixing Electronics and North Microelectronics, the integration of Semiconductor Manufacturing Co., Ltd. and Tuo Jing, and the establishment of two North and South Equipment Enterprise Groups (Smichen Semiconductor and North China) to promote the serialization and complete set development of domestic equipment.
Wang Zhaofu emphasized that large funds should take advantage of their professional investment and pay attention to the overall distribution of the overall profit by focusing on the strategic projects and marketization projects, the high yield / risk projects and the medium and low yield / risk projects, short-term projects and long-term projects. , The fund has been invested enterprises operating income, profit was significantly higher than the industry average.After assessment by third-party professional assets assessment agencies, as of the end of 2016, the fund annualized internal rate of return of 4.69%, the holding of listed companies to achieve a larger float Surplus, value-added more than 50%.
Closely follow the theme of industrial development to further attract social capital to follow up
For the sustainable development of large funds, Wang Zhanfu admitted that there are still many problems facing the first .First, the overall fund size and industrial development demand is relatively small, leveraging and synergy can hardly meet the needs of industrial development.According to preliminary estimates, the future The total capital requirement for the entire industry in five years is about 1.15 trillion yuan to 1.4 trillion yuan and the demand for funds is about 170 billion to 210 billion yuan, which is far from the current fund scale. Meanwhile, the fund needs further investment in specific projects To attract social capital to follow up and broaden the channels for investment in industry.Secondly, the synergy between the fund and various policies needs to be enhanced.A large fund is only one measure to restrict the bottleneck of investment and financing in industrial development, and can not solve all the problems of industrial development. Policies such as fiscal and taxation, finance, personnel training, intellectual property and research and development support will be further strengthened to establish an efficient synergetic mechanism. Moreover, it is more difficult to balance returns in the short term. As funds gradually invest in storage, advanced logic processes and a series of investments Huge, long cycle of major strategic projects, these projects are completed within a period of time, the fund surplus Facing some pressure. In addition, international cooperation in environmental challenge, the next stage of development of the industry in particular, to further increase the resistance to international cooperation.
On the next working train of thought, Wang Zhanfu told reporters that the major fund will continue to focus on the "national IC industry development to promote the outline of" the core tasks and goals, closely linked to the theme of industrial development, and actively respond to changes in the situation, with the characteristics of the investment stage, and steadily promote the investment business Continue to support the development of leading enterprises in the industry, and continue to support memory, advanced logic technology, special processes, and compound semiconductor manufacturing to achieve high coverage in key fields of design and superior enterprises, and complete the processing of CPU, FPGA, etc. High-end chips and EDA tools investment layout continue to walk through independent innovation and overseas mergers and acquisitions to increase investment in equipment, materials projects to accelerate the development of downstream applications and investment projects corresponding park-like standards to achieve downstream and surrounding investment breakthroughs. Sub-fund investment strategy, co-ordination of the sub-fund investment layout, and fund investment to strengthen synergy.Second, enhance the level of investment management, improve the investment management system, give full play to the Fund as an important shareholder influence, strive to strengthen proactive management, and promote key enterprises to further improve Corporate governance will develop on its own Integrate into the national strategy and actively carry out high-level services such as investment and financing, industrial chain coordination and policy coordination and support the enterprises under investment to become bigger and stronger. Third, in combination with the progress of initial fund investment, especially the continuous investment requirements of large-scale production line projects, The first phase of the fund and follow-up industry development funding needs of convergence.
Support the development of strategic industries Set a new benchmark for industrial investment funds
A series of progress made by large funds not only enhance the competitiveness of China's IC industry chain, but also provide a good reference for the operation of China's industry investment funds .Especially, the funds play an exemplary and leading role in improving the whole industry of integrated circuits Chain investment layout, optimize the investment structure and take into account the benefits, and comprehensively strengthen the investment management have accumulated a lot of experience.
IC industry is a high-input, high-risk industry, with a strong investment intensity, long payback period, competitive international features, requires sustained investment in order to achieve the survival and development.Zhang Zhanfu confidently said that large-scale funds to promote China's IC industry continued rapid Growth in 2016. China's IC industry achieved sales of 433.55 billion yuan in 2016, an increase of 20.1% over the same period of last year, much higher than the average global growth rate. The major funds actively explored the use of capital as a link to fight
Upstream and downstream industries, successfully played the role of industry organizers, effectively promoted the industrial coordination and industrial governance, helping domestic industry chain cooperation deepening.Currently, the proportion of all aspects of the IC industry chain to further optimize and coordinate the design and manufacturing industry The proportion of high-speed growth year by year.Especially worth noting is that all aspects of the industry have achieved varying degrees of technological upgrading.Comprehensive level of chip design in the field of intelligent terminals, network communications and other 28-nanometer process, part into the 16/14 nanometer process ; Logical manufacturing technology 28nm process has achieved mass production, 16/14 nm process is tackling the problem, narrowing the gap with the world's advanced technology; advanced packaging and testing capacity continues to increase, accounting for 30%; medium etching machine, film Equipment, packaging lithography machines, targets and a number of key equipment, the core material to achieve mass production, some of the high-end products into the engineering verification.
Finally, Wang Zhanfu said with deep feeling: Only in accordance with the principles of market-oriented operation, professional management and scientific decision-making, and adhering to the organic combination of national strategy and market mechanism can we promote investment and management in an orderly manner and enhance the competitiveness of the entire industrial chain of integrated circuits , Truly bigger and stronger China's integrated circuit industry. People's Post and Telegraph
5. China's 'optoelectronic integrated chip and its materials, key technology' made a breakthrough
According to the Ministry of Science and Technology, the optoelectronic integrated chip and its material key technology are one of the important development directions in the field of new materials. It is widely depended on high-speed and large-capacity optical fiber communication, all-optical network, next-generation internet and broadband optical access network in the future Technology During the 12th Five-Year Plan period, the 863 Program for New Materials Technology supported the theme of 'Key Processes for Optoelectronic Integrated Chips and Materials.' Recently, the office of 863 New Materials Technology Group organized experts in Beijing to conduct acceptance tests on this subject matter .
The key technologies of optoelectronic integrated chips and their materials' project focused on the key issues of photonic integration and developed new device structures and integration methods. The multi-wavelength demultiplexing arrayed waveguide grating (AWG) and waveguide detection Efficient coupling integrated method and process of the device array to effectively solve the problem of structure and process compatibility and realize the integration of multi-wavelength parallel high-speed waveguide probe chips; the silicon-based silica AWG and the silicon-based PIN-type adjustable optical attenuator (VOA) devices and the key technologies of integrated chips, the integrated chip of silicon-based AWG and VOA was prepared and the mass production capability of 16-channel silicon-based planar lightwave loop type AWG chip and VOA chip was achieved through the project's industrialization and practical technology research. Securities Times