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1. Old Man: Top 10 News for China's IC Industry in 2017;
In the past year, different people experienced different news events on the judgment of the year is different, the following is only a personal judgment for reference!
Ten, Set micro-grid: Semiconductor Assembly ignited IC stocks
Will be set micro-column in the tenth article a bit selfish, but stand in the old man's point of view to judge we should understand.
This year set micro-network completed the Pre A round of financing, but also state-owned, as the industry media website, took the first step in financing development, Lao Lao feel not easy.
These days just set the tenth anniversary of the establishment of micro-grid, all these years have friends want to inject micro-grid set, has never thought clearly, although micro-set micro-nor lack of money, not easy to drag a friend.
September set the micro-semiconductor summit planning for many years, to convene it is not easy, but it also basically set the tone after the summit.
Many domestic semiconductor summit, said coincidentally, set the micro-grid summit opened the IC concept of rising channel, the summit not only invited hundreds of CEO presence, but also for the first time to more than 400 secondary market analysts and Fund manager introduced the concept of IC stocks, ignite the market is not surprising.
Of course, many IC companies landed on the A-share market in the past year and the second phase of major funds were the catalyst for detonating IC concept stocks.
Nine, Cambrian: Internet Fund Invasion of Semiconductor
Cambrian valuation of one billion US dollars, many people in the industry can not figure out, because this is contrary to the past many years IC Fund investment guidelines, after all, despite the hot AI, Cambrian camp not much revenue.
Cambrian this year is the supplier of Huawei Hass, surely next year, but after a good guess, in the style of Hassith must have cut the Cambrian used his own IP.
Cambrian is not much revenue valuation of one billion US dollars, Shang Tang technology is actually higher, the same as there is no revenue, but this is the Internet game people play.
Traditional IC Fund can not read, do not dare to vote, normal, people betting Internet fund is the concept of the future.
First possession of users, and then seek development, but this is valid in the field of integrated circuits, yet to be verified.
In any case, the intervention of new forces is beneficial to the integrated circuit industry as a whole.
Eight, bit continent: Alternative IC design dark horse
China's IC industry has been no shortage of upstarts, from the earliest Actions Semiconductor, Vimicro, Spreadtrum / RDA, to the later exchange top, Siu Yi and so on, but just from the profit point of view, it seems never reached the height of the bit continent.
Outsiders are not sure how much the bit mainland earned this year, an argument is billions, anyway, a lot of the news came from the supply chain in Taiwan a few days ago, bit 10 continent 10nm orders surpassed Haas in December as the largest customer TSMC.
Many people are not optimistic about the future of Bitcoin Mining, to be honest Lao Zi is not optimistic, but the bit mainland China is to data processing, AI transformation, is said to have become Ali, Tencent suppliers.
Technical strength is not bad, one argument is that the continent may become Nvidia's challenger.
And given the market potential of mining machines, the hot market started in July this year seems to be better next year.
A generation of boxing champion Ye Hao, several generations of boxing champion worth mentioning, anyway, this year, the Bengt continent will not be included in the Top Ten news can not be justified.
Seven, Fujian Jinhua: DRAM production is not the first occurrence of lawsuits
Although the domestic and foreign media hype each day the rise of the mainland memory industry, objectively speaking, including Samsung, Hynix, Micron, Toshiba really did not take the mainland competitors seriously, people know how difficult it is to make memory.
As for the patents, although Micron sued UMC and Jinhua for trade secret infringement, this does not mean that the mainland memory industry will face a patent war in the next few years because you must first enlarge the memory industry.
Regardless of the Yangtze River storage, Hefei Changxin or Fujian Jinhua, whether it is Flash or DRAM, the mainland memory has just started, leaving aside the technology aside, not losing three to five years, China's memory can not be based.
Many people compare Fujian Jinhua with patent litigation faced by China Semiconductor. In fact, the two are not the same thing at all.
Micro-semiconductor started very high, Fujian Jinhua itself is the UMC technology, people really have the technical level of Samsung can not find the mainland cooperation, as later talked about Hisilicon success model can not see the touch, the development path of micro-semiconductor The same can not be copied.
China's development of the memory industry really need to consider the patent, but the most crucial thing is to put aside these first technology to catch up, have the ability to catch up with natural and ultimately patent applications.
Sixth, Spreadtrum: Zeng Xuezhong alternative Li Li tour can turn the tide
Needless to say, Li Li, the past decade on the contribution of Spreadtrum, Spreadtrum was once synonymous with China's integrated circuit, the current trough was normal.
Zhaowei Guo Zeng Xuezhong instead of Li force travel can turn the tide no one can give the answer, the old man can not.
China's IC in the past two or three decades has not got rid of the development model of a generation of boxing champion, only shows that China's IC industry is too weak, accumulated history, precipitation is not enough.
Although China's IC industry is booming every year, although the industry as a whole is expected to have a revenue of more than 900 billion in 2017, it is an indisputable fact that China's industry lacks giants in addition to Haas.
A non-giants industry is definitely not a mature industry, blowing heaven is useless.
Fifth, Datang: joint venture Qualcomm suffered Internet tearing force
Over the past few years continue to experience the Internet and mobile phone industry, all kinds of tearing war.
To be honest, the old man do not like, but also forbidden set micro-network involved, including this year's Datang, Qualcomm and purple contest.
However, it is obvious that this war has forced the industry to bring a lot of bad effects, like it or not.
Can not control others, Lao Shao can do is set more rigorous management of micro-network, rather closed down can not be transformed into today's headlines!
Fourth, Omnivision: high-quality semiconductor standard hard to find again
Datang, purple after another tearing force is about Omnivision, although in the end a lot of people do not know the context.
Omnivision twists and turns this year, the first is the acquisition of Jun Zheng failed, after the failure of the acquisition of Vail, until finally Omnivision turned Verger boss Yu Renrong holding company came to an end.
There are many companies that are eyeing Omnivision. All that can be said is that while the international mergers and acquisitions in China's IC industry are in full swing, there are not many targets for M & A or acquisitions. Some have said that Omnivision is the last high-quality IC design target to be right.
Are there any trillions of IC funds in China? Actually, we all really know that if the hundreds of billions of big funds are real money, the local government funds may actually be only 10% or even less.
Even if this funding is available, the investment in IC market in China has shown little to no pay. Objectively speaking, China's ICs can not afford to invest over a trillion yuan now.
Third, Hass: successful model can not see the touch
If the last two or three decades of China's largest integrated circuit harvest, non-Huawei Hisilicon.
Only one HiSilicon in China can keep up with the most advanced processes in the world, and only the HiSilicon can compete with the international giant in terms of management, remuneration and talent.
Hisense is good, but Hisilicon can not be copied, just like Huawei can not be copied, Haisi success because there is a rich father, but also a patient father, or a rich dad who can give full support and cooperation in the client , This other semiconductor companies can not have.
Hisilicon into the mainland's top ten IC industry this year, not because of these news, the main reason is that HiSilicon has made a breakthrough in memory outside the unicorn, although others do not publicity.
Second, Siu Yi: DRAM industry into the potential giant
Siu Yi is very low profile, low profile to find it hard to find a picture of Zhu Yiming online.
He denied participation in Hefei Changxin a long time after the trillion to participate and dominate Hefei Changxin finally surfaced this year.
Guess well, Hefei Changxin will become another memory investment in the Yangtze River after the storage company, DRAM is very difficult, but many people in the industry optimistic about the trillion can stick to the end.
There is a lack of giants in China's semiconductor industry and many people are optimistic about it. However, before this goal is reached, there is still a long way to go.
First, SMIC: Zhou Ziyue alternative rise
In 2015, when Zhou Zixue became the chairman of SMIC, no one thought of today's SMIC.
A few days ago, the old man said Liang Mengsong joined SMIC this year, the largest event in China's IC industry, not one, but the real trader is Zhou Zixue.
Because Liang Mengsong, SMIC fundamentally solved the problem of advanced manufacturing process, but about the future of SMIC or weekly learning, the past two years have proved Zhou Zi Xue in the corporate governance of the old and mature.
Set micro-network
2. Sword global, how glory sounded the horn of 2018 peak;
Set microblogging / Deng Wen standard
Throughout 2017, the mobile phone industry is in the doldrums, the surface seems placid, but in fact contains changes in the situation.Some brands are struggling to survive, some brands bottoming out, there are some brands ups and downs, staged a breathtaking scene.
In response to this dismal status, the glory of Internet handset brands rose in contrarian trend in 2017. Recently, Zhao Ming said in his speech titled "Greeting 2018, World War I, Keeping the North Slope, Put the Honor Banner in the World" In the New Year's speech, employees even said: 'In 2017, glory has become the number one brand of Internet handsets in the world. In the face of the more crucial 2018, glory is bound to expand its war situation and embrace the world more violently. '
Zhao Ming This internal letter was sent to each and every one of the glory of the staff the week before, the glory of the fourth anniversary celebration and glory 9 youth version of the new conference site, when glory global theme song "We are the brave" sounded, just 4 years old glory Announced the milestone will be the first brand in China's mobile Internet, with an enviable group 'privilege' to resume in 2018, 'second pioneering' Sword global, glory of this new globalization strategy, Sounded three years into the world the first five or five years into the world's top three charge numbers, and now, not the opening year, Zhao Ming even more through this early New Year's speech, announced the glory of the global strategy was officially launched, ' After the internal vows, has begun to go to the forefront of the battlefield.
4 years of 'low profile', the achievements of today's glory
All along, the glory of the domestic Internet mobile phone market is particularly 'low profile' because on the one hand to be constantly questioned the necessity of Huawei dual-brand; on the other hand in the surging Internet handset market, never chase, pay more attention to product quality , Innovation and service development model, but also to glory away from the media attention to the central area.
But now it seems that this direction and strategy is undoubtedly successful; and perhaps it is precisely because of the 'low profile' that the achievements of today's glory.
On December 21, on the occasion of the fourth anniversary of Glory, Zhao Ming, President of Glory, quoted data from the famous third-party data agency Sino, announced to guests: According to the sales data of Sino Market in China, from January to November 2017, Glory Mobile With 49.68 million units sold and 71.6 billion yuan sales, topped the top of China's Internet phone brands.
In addition, according to the cumulative sales data of online sales of Sina in the month of November, Glory Mobile ranks second overall in the online and offline sales volume of China's mobile phone market, second only to Apple and the highest ranked Android mobile phone sales volume name.
Good results glory phone throughout the year 2017, in every key marketing wars have been reported in succession, such as double eleven during the Jingdong sales exceeded Apple for the first time, Lynx + Jingdong platform mobile phone sales exceeded 4.02 billion yuan Ranking first, but also won the Jingdong platform single-day global mobile phone brand sales and sales double crown.
Just as performance is a driver of price increases, Glory's performance is derived from its continued launch of the explosion-proof mobile phone. To date, glory play X Series global cumulative sales of 40 million units, Glory Digital Series cumulative sales reached 3000 The average praise rate of glory mobile phone products as a whole reached 98%, of which glory V10 hit 99%, glory V9play and glory play 7X good comments reached 100%.
Such a high rate of user acclaim is rare on the internet handset market, which shows that in the past four years, while honoring product quality over the long term, glory has continued to enhance users' initial product experience and innovative services.
Over the past four years, Glory has continuously innovated products from the 8-core 4G handset glory 6 that uses the world's first LTE CAT6 chip to the glory 6 Plus that leads the parallel double photo shoot to the glory of the original Chi Ling key 7 to the world's first Artificial intelligence glory Magic Magic, and then this year set off the glory of the AI speed revolution V10, glory has always put the product first.At the same time, in order to communicate better with young people, in addition to meet the demand and create demand on the product, Glory also built a unique system of dialogue with users, and finally succeeded in shaping a tide popular with young people technology brand.
In response, Zhao Ming said in his internal letter that the dazzling performance is not just a figure. Behind every praise stands a young man full of expectations and affirmation of glory. We value these honors very much, Because it embodies all the glorious efforts and the love that the users have given us .... The progress of glory is a manifestation of the competitiveness of the entire Huawei system. "
Bonus bonus is not capped, rebuilt overseas glory
Speaking of the competitiveness of the Huawei system, I have to mention the glory of the 'SAR Commendation Order' issued by the president of Huawei in early December Ren Zhengfei - 'glory branded mobile phone single commission bonus program.'
According to this document, the glory of the SAR brand to give only the policy to further release for the yoke, provide protection for the glory of the team, the Group only one profit requirements, the more service users, the more the bonus, not on the ceiling.The program shows that, Glory brand mobile phone sales by the number of commission, different stalls, different models of mobile phones a single commission the same. 'As long as the internal and external compliance within the boundaries to achieve the goal of grab the more food, more points bonus, 13 You can get a bonus of level 23. '
Why Huawei Group resorted to such an unprecedented incentive policy? The answer is December 21 Zhao Ming Anniversary announced the global strategic plan: three years into the top five global brands, glory will focus on the brand Heights, covering the populous nation, overseas markets in 2020 Sales accounted for up to 50%.
It can be seen that in order to achieve the strategic goal of Glory Brand's globalization, Huawei has supported the incentive mechanism with unprecedented intensity and scale, which shows that Huawei recognizes the glory brand's light assets and low profit model as well as honor The mobile phone has won the phased success in China's mobile phone market and even urged the glory to achieve the global strategic goal as soon as possible.
In fact, based on the achievements glory has made in the domestic market to expand its advantage and expand overseas markets is also homeopathic According to the China Information and Communication Research Institute's report under the Ministry of Industry and Information Technology pointed out that the single month in November of this year, the domestic total smart phone shipments of 4034.5 Million, down 21.7% .In previous October, domestic mobile phone shipments of 38.181 million, down 9.8%.
This shows that the domestic mobile phone market has been severely saturated, to further seek incremental overseas market is the best choice. Overseas populous countries and regions, will become the domestic mobile phone competing goals, according to the glory of the established overseas strategy, the future glory is The United States, Europe, Russia, Mexico, Africa, Turkey, Pakistan, India and Indonesia are the key areas.
Glory is not a blank in overseas markets. According to GfK, a third-party market organization, glory has been the top three in January-October 2017 in Russia and Finland, among which Finland's market share in July First place, while in Amazon 'Black Friday', Glory achieved over 100% breakthrough growth in France, Germany and the United States.
Overall, under the endorsement 'Glory brand mobile phone single commission bonus scheme', the guide assault, honor incentive ten million people go overseas to promote the evolution of the glory of system capacity, to enhance traction glory brand mobile phone sales volume, that is, to the intent behind help achieve the strategic objectives into the TOP 5 global mobile phone market share in the glory of three years. at the same time, Zhao pointed out that the construction of the twin-engine development model in overseas, relying on the Internet's unique asset-light, the integration of online and offline, through partnership business model , Recreate a glory overseas.
Adhering to the confidence of the second venture, leading AI mobile sailing era
It is in this context that Zhao Ming delivered a speech for the New Year by his internal staff entitled "Greeting 2018, Fighting the World, Keeping the North Slope, Putting Glory's Banner to the World," and said that the glorious and open strategy of globalization will Is the glory of the second venture.
The reason is that the second venture, because glory not only in overseas markets, open up an honorable and unique path of development, and Zhao Ming glory 'won is a attitude, value, brand, reputation growth This model did not follow suit, it was an honor.
In his internal letter, Zhao Ming analyzed two existing modes of mobile phone development in overseas markets: one is to shift domestic low-cost and low-quality strategies in order to capture overseas markets. However, this model aims at impulse, and usually At the expense of the brand, sacrificing reputation or even sacrificing the future for the price, is not suitable for long-term development; Second, some mature giants at every step of the way long-term layout, although the solid market base, but accompanied by huge time, manpower and financial costs.
Therefore, Zhao Ming believes that glory needs to find a third mode of development. 'While not waiting for it, we must not be barbaric and we must pursue healthy growth with values. We need both good performance and reasonable profit, and more to achieve Brand Health Operations.
Nowadays, mobile phone brand concentration is getting higher and higher, and the industry market is declining. In the face of the increasingly fierce competition in the global handset market in 2018, Zhao Ming is also open to the public. We need to build a brand around the world and want to establish a win-win ecosystem around the world. Unprecedented, but when we work hard in the global market, we must uphold strategic self-confidence.
In my opinion, the glory of the team's strategic confidence, in addition to the above mentioned in the domestic market has formed a skilled manipulative ability and Ren Zhengfei issued "glory brand mobile phone single commission bonus program" to be glorified global strategic support; more important Yes, Huawei and Glory brands operate independently. However, under the endorsement of Huawei's R & D team, Glory Mobile leads the world in product quality, patents and cutting-edge technologies. In particular, Glory Mobile takes the lead in providing AI technology for at least six months, Is an important element that can not be ignored in honoring the globalization strategy.
In the blessing of artificial intelligence technology boom, AI phones will become in 2018 the trend of innovative mobile phone applications, AI Age of Discovery will follow. Following glory in 2016 and released the first mobile phone artificial intelligence glory Magic, 2017 Nian Glory AI phone V10 release, so that glory standing in the entire mobile phone industry, 'broken wind' position, setting off a AI speed storm.
In addition to leading the AI technology and endorsing the Huawei Group, there is a source of glorious strategic confidence: from 'having a friend to have a future' in 2014, 'stupid bird' in 2015 to 'no fear in 2016' Stop ', and then to 2017' sights should look at the amount of 'glory every step of the hand well grasp the pulse of the development of the mobile phone industry, and this not rely on' family background ', by its own endowment ability, insight and Pre-judgment, so that glory to the glory of the baptism of Christians, but now still the same as the general blood calf freshman just.
Whether the glory of heaven and earth, the braveness and the re-departure can the mission be reached, let us wait and see. (Set micro-Wei / Deng standard)
3. The overall revenue and smartphone revenue growth rate of Huawei dropped to its lowest level in 4 years;
According to foreign media reports, Huawei announced on Friday the overall revenue and smart phone revenue in 2017 data, the growth rate of these two figures dropped to its lowest level in 4 years; Huawei announced next year will expand its global business scope and launch more More high-end products.
In his speech for the New Year, Huawei CEO Hu Houkun said the company expects revenue to grow 15% in 2017 to reach 600 billion yuan (about 92.08 billion U.S. dollars).
Such growth is Huawei's lowest level since 2013. Huawei's revenue growth has been slowing in recent years as China's telecom operators complete the construction of the world's largest 4G mobile network and intensify competition in the smart phone market.
Hu Houkun said Huawei's smartphone shipments in 2017 reached 153 million units with a global market share of over 10%, consolidating its position as the world's third-largest maker of smartphones, with the top two handset makers behind it being Apple And Samsung.
Huawei said while the smartphone business is growing rapidly, the profit margin of the business is very low. Combined with the drag on marketing expenses, the company announced in March that annual profit growth will be almost flat. After that, the company will focus on profitability.
Yu Chengdong, chief executive of Huawei Consumer Business Group, said in another New Year speech that in the past year, the Group has made significant growth in markets such as Italy and Germany and the Group will strive to obtain a larger share of the global high-end market.
Yu Chengdong said: "We will have disruptive products and innovative technologies to lead the global market by 2018. I believe 2018 will be our first year of truly global excellence."
In October, Huawei unveiled the Mate 10-series smartphones, the company's most expensive cellphone ever launched, which is said to carry faster AI chips than the chips used by the Apple iPhone. "Yu Chengdong said the phone is' Sold very well ', but he did not disclose the specific data.
Yu Chengdong said he expected the department's revenue to grow by 30% to 236 billion yuan, the lowest growth rate since 2013. He said: 'We need to better understand the high-end users outside China and China's young fashion spending 'S needs.
Industry tracking research firm IDC expects total smart phone shipments in China will decline from the previous year.
Hu Houkun also said that Huawei's business needs to maintain a moderate growth rate and become the company's pillar business within five years.
He also hoped that the company's consumer business will increase profitability and hope that the newly established public cloud business will expand its scale and hope that the performance of core business operators will exceed the industry average.
4. LeTV creditors: LeTV financing leverage close to 1: 7 institutional trap financing pitfalls;
Reporter Li Wei Zhu Yi Yi Wang Dan Pang Hua Wei Beijing, Shanghai, Guangzhou reported
In addition to the music before the staff, the evolution of music crisis, a number of financial institutions to form a huge 'ecology'.
As early as November 12, 2016, Jiayue Ting has pledged 566.07 million shares and raised funds of 11.614 billion yuan.
At that time, at least 15 brokers' names were tied to LeTV, including Haitong, Huarong and Huafu, due to the pledge of equity of the LeTV shareholders.
China Execution Information Disclosure Network disclosed that a document put on September 28, 2017 shows that Mr. Jia was included in the list of dishonest executors because of 'breach of property reporting system.' Ping An Securities required it to pay a total of 477 million yuan.
On the afternoon of December 28, 2017, Ping An Securities confirmed the above to 21st Century Business Herald reporter. Regarding the fact that this fund involves specific businesses, it only stated that 'the business under the directional asset management plan Out party) '.
In addition, investment agencies 'bad debt provisions' are numerous and these funds are mostly direct investments.
21st Century Business Herald reporter was informed that Ningbo Bay District, Ranan investment management partnership (limited partnership) (hereinafter referred to as Rakuten investment) is its important representative, from which you can grasp Jiayue Ting financing logic, but also shows the nested asset management The Uncertainty Caused by Product Financing to Current Financial Risks.
Music as debt chain
The lawsuit of Ping An Securities attracted much attention as it has a special status and is the sponsor of LeTV Online.
In the music before the Commission issued a review committee members were investigated, there are safe securities to 21st Century Business Herald reporter revealed that 'the current financial point of view there should be no problem, because Ping An Securities has so far received no notice of investigation. '
The Ping An Securities confirmed that the Shenzhen Stock Exchange turned Pinguo Securities prepared by the music as the Internet worksheet, but did not find peace securities to chat, investigate or assist.
Media reports that LeTV IPO underwriting and sponsorship costs 45.04 million yuan, audit and verification costs 2.52 million yuan, information disclosure costs 2.514 million yuan. (2010) Ping An Securities as the lead underwriter's revenue ranked first, IPO income nearly Two billion yuan, it seems music is not its 'big project'.
Another document shows that Huafu Securities also requires Jia Yueting to pay over 300 million yuan.
More than institutions, the same GEM GEM (300133.SZ) is one of the music as the creditor.
21st Century Business Herald reporter learned that, at the end of the first quarter of 2017, the music has a network of 340 million yuan receivables balance, November 19 announcement shows that the music accounts receivable balance dropped to 120 million yuan After deducting other investors, the amount attributable to Huace Television is estimated to be no more than 80 million yuan.
On the afternoon of December 28, 2017, a staff member of the Huace Film and Television Securities Department told 21st Century Business Herald. Some of the series that have been broadcast include accounts receivable, some have not yet broadcast the series receivables And the company and LeTV as the amount of joint investment, have done the corresponding debt liquidation ', he pointed out that' 2017 LeTV to pay the proportion of not more than 1%, most of the money will be paid in 2018 and 2019 '.
In addition, the Ming Allied Group (300242.SZ), and the power Chen light (836201.OC), Jiaxing Media (830951.OC) are all music as the creditor.
21st Century Business Herald reporter learned that an East China metal parts and components processing enterprises are still fortunate to 'exit' early, there is no depth involved in the supply of music products.
According to the above-mentioned insiders, the company has been involved in the production and processing of some parts of LeTV's first-generation handsets since the fourth quarter of 2015. To be honest, the price and account receivables LeTV gave were not bad at that time and we are also more optimistic This cooperation ', the source said.
At that time optimistic, mobile phones seem okay, the first batch of products listed popular.
According to insiders, AAC Technologies, Compal and other companies due to the cooperation with the music 'body mass' is more serious impact on the hearing in November 2016, AAC Technologies said publicly that: the issue of music as arrears be Solve before, do not consider and then deal with each other if arrears too long, do not rule out legal action .And then the company apply to the court for property preservation.
2 billion bank non-standard thunder-ray sample
When music embarrassment is frequently talked about, the market more memories of various details.
In the sample selected in the 21st Century Business Herald, the time when Rakuten invests into public view is January 2017.
At that time, the LeTV website at the stage of financial emergency said that it welcomed strategic investors, that is, while obtaining a total investment of 15 billion in Sunac China, it also provided a loan of 1.83 billion yuan provided by Huaxia Life Insurance Co., Ltd. and Le Ran Investment.
Le Ran Investment was established on July 5, 2016. Among them, Ying Tai Capital, a subsidiary of Great Britain Fund, contributed 2 billion RMB, accounting for 57.06% of the total. Linfen Investment Group (Linfen City Investment), LeTV Holdings and LeTV Investment Holding 28.53%, 14.27% and 0.14% respectively, and the four shareholders contributed a total of RMB3,505 million.
According to the information from the eye, the amount of 3.505 billion yuan of music investment only under the name of an investment, that is, LeTV's super-TV business carrier 'music as the new'; after a year of Rongchuang China and Sun Hongbin operation, 'Music New 'has been renamed as' New LeTV' on December 4, 2017.
Business information, optimistic about the amount of its investment 12,663,600 yuan, where the remaining funds to invest unknown.
Since the capital after Great Britain is pleased to invest in controlling shareholders, and its parent Great Britain Fund is a national grid holding company, some media said that music as the state-owned assets support.
However, according to a 21st-century economic report survey, optimistic investment is still controlled by LeTV as part of the LeTV financing, which is essentially a structured partnership-based private equity fund. Only equity investment in GP and As the inferior music control.
The difference is that in the business information invested 2 billion British capital and 1 billion Linfen City vote only as a priority and mezzanine exist. British capital only as a special channel exist, and 2 billion from a bank Beijing Branches, as of the end of July 2017, the funds have been interest default.
'This non-standard business is not uncommon in the bank's capital business, banks are equivalent to M & A loans, and Jiayue Ting guarantees personal and LeTV assets.' A brokerage close to LeTV revealed that 'the funds were not directly From the bank to the British capital account, in the middle there is a brokerage owned hands over.
According to the source, the loan issuance is not unrelated to the support of individual leaders of the above stock banks. The reporter learned that soon after the completion of the 2 billion-yuan priority investment, the leader has been taken away by the relevant departments for investigation.
As a channel side of British Capital and LeTV more than this relationship.It has been reported that in September 2016 it participated in the music as the first car Supermarket financing.
Coincidentally invested another one billion yuan mezzanine investment comes from the hometown of Jiayunting Linfen City vote.
'Jiayue Ting proactively strived to provide the home for the $ 1 billion mezzanine support because without the 10 billion, the levers on the other side of the bank are too high, which may lead to the failure of financing.' Another source close to LES revealed that ' Bankruptcy liquidation, Linfen City voted to give way to the bank, but in fact all state-owned assets pay. '
'In this financing chain, LeTV is equivalent to only investing 505 million yuan, financing leverage ratio close to 1: 7, but when these debt financing into the financial into the music into the new (as the new music intellectual).' The person admitted .
'Full-panel warranty' alert list
In fact, similar to the music investment partnership fund traps, as well as music depends on Haitong Securities issued music as convertible bonds project.
In May 2015, Haitong Creation, a private equity firm of Haitong Securities, initiated a partnership fund of 410 million yuan and targeted to invest convertible bonds issued by LeTV Mobile as overseas carrier of LeTV mobile phone carrier with an annualized yield of 15%.
Convertible bonds, which later became the subject of investment, did not appear, and the aforesaid partnership fund did not record the proceedings in the fund industry association.
21st Century Business Herald reporter learned from close to the LeTV Department was informed that the partnership fund shortly after its establishment, it borrowed the name of the music as the company's 'transfer', involved in music financing trap.
In fact, the fundraising features of the FTV and Jiayue Ting can find many features such as debt-sharing and related-party transaction opaque. Many still fall into the ranks or, more often, they are not proficient in their personal and all assets Of the 'full-type guarantee' bet, but this time they bet lost.
For example, when investigating more than a debt financing project, the reporter found that most of its guarantees are shown as' Guanying Pavilion and its personal assets assume unlimited joint and several liability guarantee ', sometimes the terms also note that their personal assets include' in addition to the listed company's shares, there are unlisted companies Assets, including film and television, super TV, sports, cars, cloud computing 'and so on.
The real wind control effect of such 'all-encumbered guarantee' is how it is worth reflecting on whether or not the real boundaries of the helm's personal assets and business are adequately recognized by the market in the face of bigger and bigger businesses like LeTV. 21st Century Business Herald
5. India's IT industry laid off nearly 60,000 workers a year, but the "massacre" may only begin
A few years ago India's IT industry was one of the best jobs in India with an industry value of up to $ 160bn, but this year the industry fired more than 56,000 employees.
Some analysts pointed out that this year's big layoffs are worse than during the financial crisis in 2008. And not just layoffs, the Indian IT industry also saw a sharp drop in the number of jobs in 2017, especially the number of junior technical positions, Compared to reduce more than half.
TCS and Infosys are India's two largest IT companies that both provided the largest number of IT jobs in previous years but for the first time this year they have reduced their total number of employees for the first time in history, Companies, even mid-sized companies like Tech Mahindra, cut staffing levels.
"The popularity of digitization and automation has led to disruptive effects on some traditional jobs, and many IT companies are re-evaluating the skills their employees need to meet the needs of the market." Incedo Human Resources, IT Services Management Inc. President Arun Paul told foreign media.
Alka Dhingra, general manager of IT at TeamLease Services, said the normal turnover of IT industry in India was only about 1% in earlier years, but the employee turnover rate in IT industry in India was between 2% and 6% in 2017. Businesses do not need that many people because of the increased level of automation.
Infosys laid off 9,000 in January of this year, while about 6,000 Cognizant employees lost their jobs as a result of the company's higher level of automation.
Now in the IT industry in India you're likely to be fired if you do not have the right IT skills your company needs.For years, Indian IT companies have been shifting from labor-intensive to high-tech companies, Such as cloud computing and artificial intelligence.This led to many low-level technical positions for enterprises absolutely no need, such as data entry and server maintenance.
Due to the continuous improvement of the level of automation in enterprises, the living environment of many low-skilled workers in the IT industry in India is not very optimistic.
According to a recent survey by analyst firm HfS Research, one-third of low-level IT workers will lose their jobs by 2022. Less than 5% of IT technicians in India now qualify for advanced IT jobs .
Kris Lakshmikanth, founder of Head Hunters India, a recruitment firm, estimates that in the next few years about 40% of mid-level technology jobs will be considered by data scientists and data analysts, as the lack of skilled professionals is a real concern for the industry. The replacement of senior technical positions.
But apart from technical innovations such as automation, there is another reason behind the panic of India's IT industry: the decline in India's software outsourcing industry, especially after Trump came to power.
The former software outsourcing industry in India is famous in the world, but in recent years due to powerful platform services provided by the technology giants such as Amazon and Google, the industry gradually shows a decadent trend, and since the beginning of 2017, Trump's promotion A series of 'U.S. jobs protection' policies have caused the Indian outsourcing industry to lose a large number of orders.
"Indian IT companies, formerly well-known for outsourcing, now have to face the problem of transition," Anshul Prakash of legal services firm Khaitan & Co. told the media that so now Indian IT companies are forced to lay off some of the pressure from survival Staff, reduce recruitment scale.
Affected by this, the current IT companies in India hiring college graduates are different ways.Technology training company TalentSprint CEO and Managing Director Santanu Paul said that India's IT industry campus recruitment dropped sharply this year by 50% to 70 %. India's IT companies hired newcomers in large numbers in earlier years and then signed long-term contracts, but the hiring style has now shifted to short-term, instant-contract employment. "As the revenue growth of the business is under pressure, the business is certain Unwilling to raise people, 'Paul of Incedo said.
Faced with large-scale layoffs and harsh employment prospects, a large number of Indian IT industry junior technical staff are facing a severe living environment.
'Most IT employees are immigrants, so they have little or no other social support,' BN BNadadhar, MD, of the National Association of Mental Health and Neurosciences, told the media. "When you were young, you were often alone because of poor financial conditions However, once they get married, they have little time to look after their families because of work, so if they become unemployed, they will become even more helpless and this will cause them great psychological pressure and mental stress.
However, the panic now prevailing in the IT sector in India will not end in the short term, and analysts say that next year the industry will continue to increase in automation, leaving nearly 70% of Indian IT workers exposed to job losses. "There will be new high-tech, high-paying jobs in India afterwards, but they are not necessarily large numbers," said TalentSprint's Paul.
'The damage done by the technological innovation to the employment environment will continue in the near future, and the damage will be unavoidable in the next two to three years,' said Mishra of Gartner Inc. But starting in 2020, we will likely See a positive change, there may be some new jobs. 'Deep Technology