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1. Construction of broad assets interpretation of investment logic: overseas mergers and acquisitions only cast the first three, compliance and keeping promises the most important;
(集 微 / 文 徐伦) 1.8 billion acquisition of NXP RF Power Division; 2.75 billion acquisition of NXP standard parts business; one after another investment in high-performance image sensor chip leader, professional storage of high-tech enterprises, silicon-based photoelectric integrated Chip manufacturers and so on.
Over the past few years, Beijing Jian Kwong Asset Management Co., Ltd. has invested heavily in domestic and foreign semiconductor manufacturers through mergers or acquisitions, but compared with those high-profile industrial investment funds, Extremely low profile, executives rarely interviewed, the outside world also know little about it.
On December 22, China Construction Investment Capital Management Co., Ltd. (hereinafter referred to as "CCT Capital") and its member firm Beijing Jian Guang Asset Management Co., Ltd. (hereinafter referred to as " 'Guangsheng Assets') held a small-scale salon in Beijing, inviting investment and financing institutions, research institutes, IC companies and related industry chain business guests around the emerging fields of artificial intelligence, 5G, smart cars and IoT robots Areas, explore the creation of industrial ecology, as well as future development opportunities.
It is noteworthy that almost all senior executives of Canton Construction Asset Co., Ltd. attended the event, including Li Bin, Chairman of the Company's Investment Review Committee. Many executives gave speeches at the meeting, revealing the logic of investment in these projects in the past few years Opinions on M & A Weibo is also invited to attend as a few media.
Investment logic: investment in high-tech hardware industry, choose the country has a large market capacity needs
According to the website of Jian-Guang Asset, the Company currently has a wide range of investment projects in layout and various types of projects in the world. It has invested in dozens of enterprises in succession. Over the past hundreds of visits and investigations, it has cultivated a number of leading enterprises in the industry. These companies both semiconductor power devices, there are hydraulic cylinders to create such high-end technology and equipment. Outside the world is very curious about the investment logic of broad assets is what?
According to the survey found that investment returns and growth rate of emerging industries are 2 times the traditional industries, so Jian-wide assets choose to invest in emerging technology industries.
In this industry, semiconductors, new materials, equipment, high-end equipment manufacturing and other hardware-related industries, with high technology and high threshold, but also our country has strategic needs, and the gap between the big industry.So in these areas to find the investment target Ground
At the same time, Li Bin believes that all investment projects both have market demand, but also with economic benefits, have a certain market share makes sense.
How to vote: Only three overseas mergers and acquisitions, compliance and trustworthiness is the most important
In the choice of a good investment direction, how to vote, which specific cast became the focus.In the construction of broad assets expert view, the semiconductor industry is very competitive industry.To vote will have to choose the world's top three or the world's top two, and Higher profit margins. The same type of profit is 2 times the domestic similar industries.
However, there are also many problems in this field.Nowadays, the U.S. government is increasingly wary of the vigorous development of China's semiconductor industry. The White House in the United States even released a The report titled "Ensuring the Leadership of the United States Semiconductor" believes that China is actively involved in the global chip industry and brought a "threat." Therefore, the overseas mergers and acquisitions of many domestic enterprises have been plagued.
Interestingly, we found that the current construction of a wide range of assets investment projects have passed the approval of a number of important projects.Guangguang assets that compliance is very important .Build a wide range of assets before the acquisition through the communication with customers, mutual understanding, to eliminate each other concern.
Credibility in the area of investment is crucial, Jian-Guang has established a good reputation in the industry through a number of mergers and acquisitions. 'They think CCW is a credible buyer, which is the highest rating, which means that many meanings "Said Li Bin.
Investment management is very important, the core investment is to bring value to users
M & A is a rather complex process. It seems the construction of wide assets, if judged by the workload, the negotiation is 1, the entire delivery is 10, and investment management is 100. Investment management is very important, which has many cultural differences , Legal differences, system differences and so on.
To this end, built a broad asset-rich set up a senior executive team.The core members are from such as China Investment Corporation, China Construction Bank, China Life Insurance, Intel, NXP, Infineon, Micron, SMIC and other well-known Chinese and global Financial Institutions and Semiconductor MNCs with Outstanding Competence in Industrial Investment and Cross-border M & A Operations.
In addition to the investment of a single project, Jian-wide assets are also promoting the construction of the industrial chain.Jian-wide asset experts said that we are not investing in a business, but to invest in an industrial cluster.Current competition has evolved from the competition among enterprises to the entire The competition of the industrial chain, so the construction of wide assets in the industry chain also made a lot of the same layout, so as to ensure that enterprises have a long-term development environment.
It is reported that at present the construction of wide assets through mergers and acquisitions and investment, the business has basically covered all aspects of the industrial chain (material - equipment - design - manufacture - IC packaging and testing), and in communications, automotive, industrial, consumer electronics and other industries have certain applications Market share.
Finally, Li Bin added: 'Judging the core value of the investment destination is whether it can ultimately bring value to users, can bring greater benefits to customers. Construct a wide asset is to see the long-term goal, not for the short term Interests give up long-term goals and positions. '
2. Huaqin by Intel and CRE and other 870 million yuan financing, ODM manufacturers are being revalued capital value;
Set micro-grid December 28 reports
Today, China Mobile and Tablet ODM Hutchison Telecom announced that it has successfully completed a RMB870 million Series A round of financing. This round of financing is jointly led by Intel Capital and CRE Investments, and other participating investors include Tsinghua Holdings' M & A Fund Clear control Kim Shin Capital, Wu Yuefeng Capital, Walden International, Northern Lights venture capital and Chi Road capital.
Founded in 2005, Hutchison products include smartphones, tablets, notebooks, servers, IoT products, etc. Headquartered in Shanghai and with R & D centers, operation centers and production facilities in Xi'an, Shenzhen, Wuxi, Hong Kong, Dongguan and Nanchang Base.At present, Huaqin has more than 15000 employees, of whom, more than 4000 office staff, research and development personnel accounted for 65% .Up to now, China Qin intellectual property application 2531, the group authorized 1666 intellectual property, group patent application 1898, group patent Authorized 1129 items.
For this financing, Mr. Qiu Wensheng, President of Hutchison Communications said: "Hutchison is proud to be a key Intel partner and a strategic investment in Intel Capital. Hutchison will be able to make better use of Intel's lead in architecture and process technology , To provide customers with high-quality intelligent terminal and server products and to seek breakthroughs in innovative applications such as smart POS, augmented reality and virtual reality (AR / VR), automotive electronics, etc. Huaqin is committed to becoming a global Hynix is pleased to become a shareholder in the company for several investment funds and other industry funds and expects to collaborate with these funds and the industrial chain companies in which they invest. '
It is noteworthy that this investment in Intel, and Hutchison has close cooperation.It is reported, Hutchison Telecom formally entered the field of notebook computers in 2016, opened a cooperation trip with Intel.In February 2017, Hua Qin won the award of Intel The collaboration between the two sides entered a new phase of development and in September of the same year, Hutchinson's server "Eden" based on the Intel Xeon (TM) scalable platform was unveiled at Intel product launches and was widely praised by the industry.
Lin Lizhong, vice president of Intel Capital and managing director of Asia Pacific, said: "We welcome China Innovative Enterprise Hutchison Telecom to join the Intel portfolio. Intel's forward-looking global vision, extensive customer network and strong technical resources will help Hutchison Expansion of multi-platform ODM capabilities Intel Capital fully supports Intel's transformation into a data company and will continue to strategically invest in providing a full range of support for organizations interested in participating in the innovation in the field of smart connected data. '
Chen Rongkun, general manager of Intel's worldwide vice president and client computing product group in China, said: "Huaqin provides professional WWAN solutions and high-quality mobile products for the world's leading ODMs and OEM customers with rich R & D Production experience.Its promotion of all-PC development vision and Intel's client computing development strategy coincide.We look forward to working with Hutchison Telecom to create an extraordinary user experience based on Intel technology to jointly promote China's innovation in the field of intelligent interconnection '
Zhang Xsheng, a partner of China Venture Capital, said: "We wish Hua Qin complete the round of financing." Hua Chong Investment is focused on the investment in integrated circuits and upstream and downstream industries, and Hua Qin is an important investment in this field. Cooperate to provide them with industrial resources and jointly promote the development of mobile phones and computers in China. '
In recent years, with the continuous growth of China's smart phone brands, but also led the great development of the domestic ODM industry.In the field of mobile phones, was born a number of leading ODM manufacturers in the world.Among them, Wen Qin and Wen Tai are currently in smart phones ODM A camp.the two manufacturers respectively assume Huawei, glory, red rice, charm blue and other brand mobile phone design, development, production.We can say that they are the hero behind these successful brands.
It is noteworthy that this participation Huaqin Huachuang Investment, Wu Yuefeng Capital, etc. are previously focused on the field of semiconductor mergers and acquisitions or investment in these downstream layout or intend to make vertical integration in the industry chain also in the last week, Wen Tai Technology Bulletin shows that Wu Yuefeng to about 1.07 billion yuan, 35.1 million shares of the company after the completion of the transfer of shares, Wentech holds 5.51% stake.
Some analysts said that after ODM manufacturers because there is no brand, combined with the industry partial profit margin, industrial capital is relatively low degree of attention.And recently, the two leading ODM manufacturers to obtain shares or investment, indicating that the capital market has found its value. With the advent of 5G, AI technology, and the coming of the Internet of Everything, their value will be even more apparent.
3. National IC Industry Development Advisory Committee held an expert meeting in Beijing;
December 26, 2017, the National IC Industry Advisory Committee held an expert meeting held in Beijing.The theme of this meeting is 'smart era, the road of innovation and development of integrated circuit industry', the main task is: to summarize the development of the national integrated circuit industry We will explore the path of industrial innovation and development and nurture new momentum around major strategic needs such as 5G, smart sensing, Internet of Things, and artificial intelligence. We must profoundly understand that socialism with Chinese characteristics has entered a new era. The essence of the times, to adapt to the new situation in the development of the global IC industry, study and put forward new ideas, new tasks and new measures for the development of China's IC industry. Miao Wei, Minister of Industry and Information Technology, Vice President of China Academy of Engineering, National Integrated Circuit Industry Chen Zuoning, director of the Development Advisory Committee (hereinafter referred to as the Advisory Committee), attended the conference and made a statement. The meeting was divided into two phases, headed by Luo Wen, Deputy Minister of Industry and Information Technology, and Chen Zuoning, director of the Advisory Committee.
Miao Wei stressed that the Ministry of Industry and Information Technology, in conjunction with the members of the leading group, should keep in mind the mission, strengthen coordination, and strive to move ahead with a combination of six key points: First, pay attention to the combination of strategic retreat and the implementation of the working mechanism. The second is to temper the internal strength of the industry and promote industrial cooperation and opening up. The third is to improve the quality of the industrial supply system and market demand to play a combination of traction. Fourth, deepen the combination of industrial development and financial capital. Fifth, to promote software optimization and upgrading and hardware technology Innovation and combination of six is to promote local talent training and the introduction of overseas talents combined.
Academician of the Chinese Academy of Engineering, National Special Technical Officer 03 Wu Hequan, Academician of the Chinese Academy of Sciences, Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, Wang Xi, Deputy Director of National IC Industry Development Advisory Committee, Director of Microelectronics Institute of Tsinghua University, 01 Special Technical Officer Wei Shaojun, State Council Development Research Center Institute of Enterprise Jun Ma, Institute of Microelectronics, Chinese Academy of Sciences 02 National Special Technology Division Ye Tianchun from the 5G era of new opportunities and new challenges IC industry, intelligent sensors Technology and industry trends, thinking of the development of China's IC industry, China's IC industry and financial synergies development made many keynote reports.
The meeting was sponsored by the National IC Industry Leading Group Office and sponsored by the National IC Industry Development Advisory Committee The National IC Industry Development Advisory Committee is the advisory body to the leading group for the development of the IC industry in China. Major issues and policies in industrial development Investigation and research measures, evaluation of major projects and other aspects have played an important role.
Relevant leaders, members of the Advisory Committee, some local industries and information from the member organizations of the Central Network Information Office, the CCTV and the National IC Development and Reform Commission, the Ministry of Finance, the Ministry of Science and Technology and other national IC industry development leaders (hereinafter referred to as the leading group) Representatives of competent departments, key enterprises, research institutes and industry associations, representatives of key financial institutions also attended the meeting.
4. Central's leading integrated circuit large diameter silicon project started;
Set micro-grid news, December 28, Central, the leading integrated circuit with a large diameter silicon wafer project started in Yixing City, the project a total investment of about 3 billion US dollars by the Central shares go hand in hand Wuxi Municipal Government, Zhejiang Jing Sheng Electrical and Mechanical Services tripartite The construction of large-scale semiconductor materials R & D and manufacturing base, dedicated to promoting the optimization and development of Wuxi integrated circuit industry chain.
It is understood that the leading IC with large diameter silicon wafer project by the Zhejiang Crystal Shing Electrical and Mechanical, Central shares and its wholly-owned subsidiary of Central Hong Kong, Wuxi Municipal People's Government tripartite joint venture set up and the establishment of the Central Semiconductor Materials Co., Ltd. ("Central Leading"), with a registered capital of RMB5 billion, of which RMB500 million is contributed by Zhejiang Jingsheng Machinery Co., Ltd .; 10% of which is contributed by Central Share (capital contribution from existing semiconductor assets), accounting for 30% of the total; Central Hong Kong invested 1.5 billion, accounting for 30%; Wuxi City People's Government invested 1.5 billion company, accounting for 30%.
Deputy General Manager of Central shares, the General Manager Qin Shilong said that the implementation of the company's "large-scale integrated circuit chip production and manufacturing project" is both the company's existing semiconductor material capacity expansion, but also the company over the years in the semiconductor industry, technology and experience and then A comprehensive promotion will break the restriction of the semiconductor material supply to the development of China's semiconductor industry and have an important strategic significance for effectively enhancing the Company's core competitiveness in the semiconductor industry and enhancing the overall level of the supply chain in China's semiconductor industry.
With the launch of the large-diameter silicon wafer project of the leading integrated circuit in the ring, it is expected to open the wave of domestication of 12-inch silicon devices. According to the statistics of the state-based consulting firm, the current demand for 12-inch silicon wafers in China is 460,000 and 8 Line of silicon demand for the 661,000. Homemade silicon wafer gap between the larger self-sufficiency.
In addition, the current global semiconductor manufacturing capacity is being transferred to China, China has become the world's largest semiconductor market, while in the 5G, Internet of things, artificial intelligence, driven by the semiconductor material industry chain upstream large diameter wafer demand continued Strong, capacity shortages will exist for a long time. Qin Shilong said it is based on the current industry development status and future trends in judgments, the company will rely on the existing advantages of large diameter area melting silicon single crystal technology industrialization, while expanding large-diameter Czochralski Monocrystalline and polished silicon production capacity, enhance the company's core competitiveness.
5. Rapid rise of battery camera market, Jun Zhengze Latour platform came into being;
Set micro-network / text
The video surveillance market is in a period of rapid development. In particular, the network camera (IPC) is gradually opening up this year under the blessing of artificial intelligence. Ultra-low power consumption, ultra-long standby and fast start-up battery-based network cameras have also started to take the market Recognized, is expected to accelerate the forthcoming explosion in 2018.
According to the IHS report, the global physical security equipment market (professional and consumer video surveillance, burglar alarm, mobile and wearable cameras, etc.) totaled 29.2 billion U.S. dollars in 2016, a 5.8% increase over 2015. The market is expected to be 2018 Double growth.
Among them, the battery camera is gradually increasing the proportion of applications, the vertical resolution of video has been upgraded from 720P to mainstream 1080P, the scope of its application is not limited to the doorbell single product and monitoring and control monitoring scene.At the same time, with the application scenario deployment As the conditions are ripe, the user demand for intelligent and scalable mobile monitoring solutions continues to grow, and the demand for battery-operated video cameras has increased, driving the growth of the mobile video surveillance market as well.
Not long ago, in the Shenzhen AMBEX 2017, including all kinds of battery cameras that are worth seeing, Xin View, HST, APT, etc., the latest battery-powered camera was presented by Jun Ze, the self-developed battery camera Zeratul ) Platform is behind the scenes of its application to promote the market to accelerate the outbreak.
Six core strengths, Junzheng Ze La battery battery for the students
Battery Cameras, initially with Alro and Ring gradually into the public field of vision, after two years or so of market paving the way, the field of video surveillance products have been fully recognized this category, the market is in the eve of the explosive rise.
Junzheng self-developed battery camera Zeratul (ZTE) platform (hereinafter referred to as ZRT) after two years of accumulation and research and development, has been stable and mature, and one after another product introduction and sale.In the Shenzhen Security Expo in 2017 Worth to see, as the sea couplets and other variety based on T series battery camera products.It is reported that in the 2018 CES or there will be more based on the ZRT platform battery camera display.
ZRT is a comprehensive battery camera product platform that includes all aspects of battery camera support: 1. A selection of hardware reference designs for ultra-low power consumption and mass-production material selection. 2. Complete software features Realize and deepen the optimization of key usage experience; 3. Mobile phone support, can easily achieve differential modification; 4. P2P / Relay seamless integration, a variety of seamless switching; 5. Cloud AI supporting, including face recognition, cloud Storage and so on.
ZRT platform in product features, there are six major technical advantages: 1. Based on Junzheng intelligent video T series chips; 2. Covering a single product and package two types of product form; 3. WIFI continuous online, ultra-low power standby, remote View; 4. Pure battery life more than 6 months; 5. Fast stream technology; 6. Based on the standard Linux OS, flexible expansion, rich connotation.
Battery camera products have a bright future and the products have many changes in form and shape, and are mainly divided into two forms: single product and package, which adapt to different application scenarios.
A single product that is an independent camera can work, simple structure, for consumer groups, especially for doorbell, smart cat's eye, hunting camera this application is a package of several battery camera with a transfer station to form a small ad hoc network System, you can get a better life time, more stable use of experience, suitable for more in-depth professional application scenarios.ZRT these two forms have done full design considerations, can easily achieve any kind of product form, are Can achieve all-weather network connection, battery life up to more than six months.
The ZRT platform defaults to the T series chip of Junzheng Intelligent Video, and further optimizes the performance and power consumption for the chip features. From basic functional forms, to the doorbell lock, to mobile video recording, to the future integration of AI, except for the battery camera ZRT products can also be widely used in the future in the field of Internet of Things to create all the products that need imaging and battery applications.
As the battery camera eliminates the need for cabling and other troubles, and can achieve long battery life, which gives consumers great ease of use.It is foreseeable battery camera will be an important supplement to ordinary IPC, the market imagination can not be underestimated. ZRT for the battery camera was born, have long-term development goals, a comprehensive layout, each node has a unique product landing, is the most suitable battery camera product platform.
Ultra-low power consumption, endless pursuit of 'fans'
As we all know, King is creatively introduced its unique MIPS32-compatible microprocessor technology XBurst, can launch instructions at very low power consumption, its processors in the low-power technology attainments reputation, and ZRT battery camera ZRT measured WIFI standby power consumption less than 1mW network, video recording machine power consumption as low as 400mW. In this level of power consumption, the battery real-time video all day, standby life of more than six months More than enough.
And through the WIFI connection to stay online 24 hours a day, this is also the battery camera application just need through the WIFI in the network, users can remotely view the contents of the battery camera at any time, and in the event of PIR (infrared body sensor alarm) trigger , You can receive the event push in time.This function with ordinary home IPC closer.
In addition, the battery selection is particularly critical for battery cameras.Comprehensive comparison of power, hardware costs, temperature safety, reuse costs and other factors, ZRT can well support rechargeable lithium, 18650 and CR123 and other batteries.
From Watches to Battery Cameras, low-power innovation can be described as endless, Jun seems to have a fanatical persistent pursuit.It is reported that the future ZRT platform will continue to optimize the main chip, refining external materials, adjust the WIFI strategy, at Low-power journey, chase in the end.
LinuxOS ecosystem, RTOS speed, both can have both
In addition to its ultra-low-power, long-term battery life, another key benefit of the ZRT platform is that the ZRT enables fast stream technology based on standard Linux. On standard Linux systems, the ZRT switches from power-up to the first frame of steady video, Need hundreds of milliseconds time, can be done quickly respond to dynamic tracking.
'This can be said that ZRT's unique stunt, this technology comes from the T-series chip Dual Boot configuration.' According to Junzheng's technical director, ZRT through dual-core independent boot, a small system quick boot, Linux seamless switching. In this way, a quick start is achieved, which not only achieves the speed of fast code stream but also maintains the ecological advantages of the Linux OS.
It is understood that the advantages of RTOS is compact and fast, the lack of ecological deficiencies, stability and scalability are not particularly good, so bring the difficulty of development, the existing software migration difficulties and other shortcomings. Linux is eco-excellent, the difficulty of development Very low, stability, scalability, inheritance are very good in the near future, with the connotation of the battery camera is constantly enriched, the Linux-based battery camera is undoubtedly the best choice to maintain rapid development.It is also for long-term considerations , ZRT finally chose the direction of development of Linux.
In fact, ZRT's Dual Boot technology, first started with a small, transparent system and seamlessly switched to standard Linux, was transparent to developers, gaining RTOS startup speed and maintaining a host of Linux advantages. Many battery camera developers, it is definitely a huge positive.
ZRT also has good display support on the Linux ecosystem, and with the support of popular GUI systems such as FBs and QTs, ZRT can support a variety of beautiful user interfaces, which can be significantly increased in products such as smart cat's eye Use an interactive experience.
Based on the above standard Linux flexibility and scalability, developing a battery camera on a ZRT is as easy as developing an IPC and can easily be commoditized with sophisticated networking protocols, extended peripherals, P2P / push and other mature resources.
Flexible expansion, rich connotation, to create a comprehensive ecological outside the hardware
ZRT scalability is also reflected in another aspect, that is, the future possibilities of intelligent function.It is understood that the current Junz T-series chips have landed duplex voice, face / human identification, object tracking, Smart stream, cloud Storage and other functions, can easily be obtained.At the same time, thanks to a good software ecosystem, ZRT has support for Bluetooth extensions and other functions, which lay the foundation for subsequent access to smart locks and other applications.In addition, with the package transfer station, follow-up Can be docked with the cloud AI, making the battery camera depth visual analysis capabilities.
In addition, the battery camera's PIR is the main trigger source, but the PIR technology itself has many shortcomings, resulting in a large number of false positives, PIR false positives is also a major pain point for battery camera products.ZRT platform for battery Camera PIR false alarm point of application painstakingly customized a set of false positives filtering algorithm, running on the T series of high-performance CPU above, it is the best way to solve this pain point.
In the megatrends, AI is helping IP cameras to emerge in applications such as security, smart home, smart city and the like, becoming a hot spot in the field of video surveillance. With its easy installation, simple configuration, simple network structure, Good quality and other characteristics, gradually recognized by the market, while the blessing of AI, its market growth momentum will be more robust.Overall, the battery camera market after brewing, 2018 will usher in the accelerated development period, into the video Monitoring the major segments of the application market, the outbreak of clear, and Junzheng ZRT platform is the core driver of its application market.
Jun is the original intention of the battery is to provide a broad battery camera market 'vertical and horizontal' services: 'a horizontal' refers to the integration of product resources, the industry chain cohesion, to provide a full range of manufacturing products competitiveness; One by one, "it is to thoroughly penetrate the technical solutions to solve the R & D coupling, supporting functional ecology, to provide products to win the reputation of the experience of competitiveness.
Now from the product feedback point of view, ZRT platform is initially done a "vertical and horizontal" service.ZRT-based battery camera life is quite strong, equipped with 4000mAh lithium battery, charging time, WIFI online life of up to 300 days, at the same time ZRT fast stream can do a few hundred milliseconds fast response, and based on the standard Linux system, battery product development is quite simple. Currently available in the market to support real production and not a few, and Jun is precisely one of them As one of the few cores, while promoting product application and opening up the market, it is also expected that the boom in 2018 will greatly benefit.
Legitimate rise of battery camera market dividends, please feel free to contact: 1. Support_hf@ingenic.com2. + 86-0551-68998700, extension 6316
6. Jiangfeng Electronics: Hefei Jiangfeng put into operation countdown
Reporters learned from Jiang Feng Electronics, December 26, a group of core machine equipment stationed in Hefei Jiangfeng plant, laid the foundation for the commissioning of Hefei Jiang Feng. Jiang Feng Electronics is specialized in ultra-large-scale integrated circuit chip manufacturing with ultra-high purity Metal materials and sputtering target R & D and production of high-tech enterprises. Affiliated Hefei Jiang Feng layout, improving the Hefei LCD upstream and downstream industry chain. With the core equipment into the plant, Jiangfeng formally put into operation closer and closer Securities Times