Writing | Contributing Writer Zhang Xiaoxing
Editing | 浅夏
Source | New 1 billion business reference
(ID: xsy-)
This is the first time I've ever seen a company like this.
Three years ago, Wuhan Hongxin was established, threatened to invest 128 billion yuan in research and development of the chip, want to be comparable to TSMC, set off a vigorous "core" movement;
Three years later, burned through 15.3 billion yuan, Wuhan Hongxin stagnant project, nearly rotten, subcontractors, workers are owed money, and then Complaints are not available.
The major shareholders behind the experience and semiconductor semiconductor no half relationship, actually pry the hundreds of billions of semiconductor projects, access to the Wuhan government advances.
The domestic chip industry seems to have entered a stage of great leap forward, "Hongxin" event is not an example. Chengdu Ge core, Nanjing DEK code, Guizhou Huaxintong, Shanxi Kun with semiconductor ...... many semiconductor projects burned a huge amount of money, returned to silence.
Semiconductors are a long return cycle, the huge demand for capital industry, can only be steady progress. After the "Hong core", the domestic manufacturing "core" cause, once again lost.
01
100 billion project "Hongxin" suspension
China and the United States on the cusp of the game, the localization of the chip has become a priority. Chip under the wind, the domestic chip speculators stupid, take the opportunity to swing down the scythe.
In recent times, the investment amounted to 128 billion yuan of Wuhan's key projects Wuhan Hongxin exposure "rotten tail", the incident triggered a high degree of social concern.
In November 2017, Wuhan Hongxin came out. According to reports, the project gathered the world's semiconductor wafer R & D and manufacturing experts, with advanced logic process and wafer-level advanced packaging technology experience, the future is expected to complete the 14-nanometer and 7-nanometer two logic process production line, the monthly output of 30,000 tablets per month, and the number of employees at least 1,000 people scale.
It is important to know that the only companies that can achieve mass production of 7nm chips are TSMC and Samsung, Wuhan Hongxin, which directly positioned itself in the global third position.
In addition to this, HongXi has also brought in TSMC's right-hand man, TSMC's "number two", Chiang Shang-Yi, as CEO.
During his years of service at TSMC, Chiang Shang-Yi has expanded his research and development team from 400 to 7,600, creating a world-class R&D team that has led TSMC to become the world's largest and most innovative supplier of chips, and a leader in the development of new chips.
Precisely because Jiang Shangyi town, many TSMC talents to the mainland. Since last year, the mainland from the TSMC poached more than 100 experienced engineers and managers, half of which went to Wuhan.
Some domestic media have cited the Nikkei Asian Review as reporting that Hongxin offers an unimaginable salary package, 2 to 2.5 times the total amount of TSMC salaries and incentives.
This made TSMC very nervous at one point.
With the support of Jiang Shangyi, HSP has purchased a 600 million RMB EUV (Extreme Ultraviolet) lithography machine, which can only be produced by ASML in the Netherlands, and both TSMC and Samsung's lithography machines come from ASML.
The EUV lithography machine is so rare and expensive that there are only 2 of them purchased in China, and HSP has managed to get 1, which has made it a star project in the chip industry for a while. This has made it a star project in the chip industry.
At the ceremony of ASML photolithography in the factory at the end of 2019, the background board reads "Hongxin serves the country, dreaming of China".
In 2018 and 2019, Wuhan Hongxin was continuously selected as a key construction project at the provincial level in Hubei, and the scenery is boundless.
In April 2020, Wuhan Municipal Development and Reform Commission released the "Wuhan 2020 municipal major projects under construction plan", Wuhan Hongxin semiconductor project is still in the first place with a total investment of 128 billion yuan, As of the end of 2019 has completed the investment of 15.3 billion yuan, and 2020 is planned to invest 8.7 billion yuan.
But just after 2 years of waiting with immense expectations, what we are waiting for is the explosion of Hongxin.
In June of this year, the media rumors Jiang Shangyi budding retirement, he responded that "the company is some problems to be solved".
Immediately after, on July 30, an accidental disclosure from the Wuhan municipal government website, Wuhan Hongxin pushed to the tip of the storm, the website on the investment in the construction of the report shows that Wuhan Hongxin project "there is a large funding gap, at any time to face the risk of a break in the capital chain roughly the project stagnation".
The report also pointed out that Hongxin Phase II site has not been completed land regulation and transfer, the project lacks land and other materials, can not be reported to the National Development and Reform Commission window guidance, resulting in other equity funds can not be imported.
Funds are stretched to the limit, and the scandal of arrears is rampant.
Wuhan Hongxin owes hundreds of millions of dollars to the general contractor, Wuhan Torch Construction Group Limited, and also owes 41 million dollars to the subcontractor, Wuhan Huanyu Infrastructure Construction Company.
After being sued by the two to the court, the account of Hongxin was thus frozen, and the land use rights of the second phase worth 75.3 million yuan were seized by the court for three years. The lawsuit is still ongoing.
In response to this matter, Wuhan Hongxin public statement in November last year, the company paid the general contractor Torch Group in full on schedule, and Torch Group and Wuhan Huanyu belong to the internal settlement disputes.
So far, owed subcontractors project payments, workers' wages, the money has not come to an end, Wuhan Hongxin nearly stopped, hundreds of billions of dollars of projects gone up in smoke.
In fact, before the explosion, Hongxin has signs, which is directly reflected in the staff recruitment and income.
Since last year, online Baidu posting and know many prospective employees said that after receiving the offer, the company delayed the notification of entry, the existing staff provident fund payment ratio has been reduced from 12% to 8%.
In addition, a reporter found Wuhan Hongxin "fake", its purchase is not lithography EUV, but DUV (deep ultraviolet) lithography.
Now, this lithography in the case of "new yet to start", to 580 million dollars mortgaged to the bank waiting for dust.
And the existing staff of Hongxin can not be put into production, can only sit in the office every day to write PPT.
02
Mysterious shadow behind the Hongxin
Recall that Wuhan Hongxin was born three years ago, and threatened to bend the road on the international chip market, but the company has not been able to do so, and the company is still in the process of developing the new technology. The company's first 7nm process technology, which is now known as TSMC, has been used in a variety of applications, such as the development of a new generation of mobile phones. But now we have a lot of people who are looking for a new way of doing things," he said.
Hongxin behind the scenes has been like a shadow presence. The eye of the sky shows that Wuhan Hongxin registered capital of 2 billion yuan, the current paid-up capital of 200 million yuan.
This 200 million yuan all from one of the shareholders of 10% of the Wuhan Lingkong, Wuhan Lingkong money is Wuhan East and West Lake District State-owned Assets Supervision Administration, that is, state-owned capital.
And 90% of the shares, need to provide 1.8 billion yuan of paid-up capital of the major shareholders of the Beijing light quantity blueprint technology limited company, but 0.
2 billion registered capital a point did not come out of the empty gloves. The government's money once burned out, the capital chain immediately collapsed.
Beijing light volume blueprint is very mysterious, the company was founded on November 2, 2017, half a month earlier than Wuhan Hongxin. At the beginning of the company's establishment, Long Wei, Cao Shan are respectively chairman and director, in January 2019, the two withdrew from the list of directors of Wuhan Hongxin, after which Li Xueyan became chairman, Mo Sen into the director.
It is understood that Cao Shan himself engaged in the semiconductor industry, serving as six semiconductor company legal person, executive director position, layout semiconductor industry for more than two years. This shows that the amount of light blueprint has the ability to engage in semiconductor at the beginning.
However, when Cao Shan withdrew, the amount of light blueprint became a veritable shell company. Li Xueyan originally invested in eco-technology, buy wine, catering, cover the garden, the background and semiconductor semiconductor without half a point of contact, founded Wuhan Hongxin half a month before the creation of the light amount of blueprints, the project has not been invested in any funds, has been burning the government's money.
And Mo Sen did not find any semiconductor-related background.
Two people who have never been exposed to semiconductors have done more than $100 billion in semiconductor projects, which is mind-boggling.
Peel back the fog, combined with the previous layers of combing, that is, Li Xueyan and others set up a shell company light amount of blueprints, and then through the shell company to get the Chengdu government's key projects Wuhan Hongxin, Hongxin and through the general contractor "Wuhan Torch Construction" will be the transfer of debt and risk to the pending loan banks, subcontractors and suppliers.
In this way, they gained a lot of money without investing.
In July and November last year, Lightweight Blueprint was placed on the business exception list for failing to publish its annual report in a timely manner and for registering a place of business that could not be contacted.
Looking at Wuhan Hongxin, even if the company's shareholding structure is clear, after a closer look, it's also a lot of suspicion. The two left the key figures, Cao Shan practitioners background has been introduced, and Long Wei is actually the general manager of Qingan trade, legal person.
Qingan Trade has invested in Chengdu Haiwei Huaxin Technology Co., Ltd. and has long been laying the groundwork for the chip industry, Wuhan Hongxin is its second investor chip project.
The company's investor before Long Wei is Liu Yasu, about this person's common military background in the relevant news, coupled with the name of Qing'an Trade and military enterprises Qing'an Group is highly correlated, it is clear that Qing'an Trade is not simple.
Some media in the article also used "rumors that Hong core behind the major shareholders of the source of funds or have a military background" to describe the words, Wuhan Hong core did not give a response, more obvious its mystery.
"Rotten" news exposure, was pinned high hopes of the national enterprise instantly into a scam, the government, contractors, suppliers, engineers, employees suffered a heavy blow. Let people saddened.
03
Domestic semiconductor "Great Leap Forward"
China's chip design companies in the world's first number of actual design level has reached the world's second. But manufacturing is the short board, many materials all rely on imports.
In 2019, China's chip imports amounted to $304 billion, far exceeding the second-ranked crude oil imports.
After experiencing the Huawei and ZTE events, China's future to increase investment in the field of chips, in addition to the relevant tax exemption policy, but also led the founding of the laboratory, a lot of big funds tend to rush.
The Chinese Academy of Sciences said that the United States "neck" list into a scientific research tasks, will be a comprehensive layout. In this context, if the Chinese chip can rise, it can be called "Nirvana rebirth".
But the capitalists came in droves, caused by a large number of enterprises around the country to draw a big cake, investment in the enclosure, the local government ignored the real situation of the project, false projects prevail, the explosion of events one after another.
The reporter interviewed industry observer Zhang Hao (anonymous), who said that "there is a great opportunity for the future of the industry, will certainly attract a lot of people to invest in the development".
In the past two years, similar to the Wuhan Hongxin mine event:
According to the "Outlook" report, in just over a year's time, distributed in China's Jiangsu, Sichuan, Hubei, Guizhou, Shaanxi and other 5 provinces of the 6 tens of billions of semiconductor projects have been suspended. The incident has been exposed frequently, and it feels a lot."
In response to these semiconductor projects seen as a "scam", "some projects start to think too far ahead, halfway through the chip is too difficult to find, their own R & D capabilities are insufficient, and finally can not do it." Thus evolving into a scam.
Semiconductors and its costly and long payback cycle, the need for a generation of two or three decades to sink their hearts into doing research, the first domestic chip foundry Semiconductor Manufacturing International, suffered 20 years to achieve the production of 14nm process, the new generation of enterprises to challenge the 7nm process, talk about how easy it is; the Chinese Academy of Sciences to change the road to explore the 20 years of research and development of a carbon-based chip is also by no means a one-stop solution.
On the contrary, most of the domestic investment in the pursuit of short-term returns, some projects to use this massive circle of money.
There is also a situation where "the project side is simply not ready to take advantage of the integration of government resources, access to financing and development opportunities, and in the end found that it can not be done." There is also the possibility that "Maybe it was a scam from the beginning. "
With data showing that China only indigenously produced 16% of the semiconductors it needed for domestic use in 2019, it is clear that the goal of self-sufficiency and global leadership in the semiconductor industry is still far from being realized.
unnecessary unnecessary to calculate the return cycle of the chip industry in ten years, relying solely on government land incentives is far from enough, enterprises in the absence of profitability before, "live" is the strategic focus.