Chapter 1470

After listening to Zhuang Jianye's words, the people present were incredible.

It's no wonder that the domestic capital market is not perfect, and all kinds of information disclosure are not timely. Is there an auxiliary query system such as tianyancha, the tangled investment and cross shareholding of enterprises, let alone the presence of experts and leaders focusing on technology, industry and military.

That is, if the industrial and commercial departments do not conduct a comprehensive investigation, it is difficult to know the spider web like complex links between enterprises.

Because of this, the outside world has paid more attention to several major restructuring and business adjustments over the years; The offline and train loading of large transport aircraft and large regional airliners, as well as Zhuang Jianye wearing gray T-shirts and blue jeans every year, standing in front of the huge ppt projection, shouting suffocation for his dream!

As for what capital layout China Tengfei has made through its Tengfei investment, and how many affiliated enterprises it controls through various subsidiaries, shell companies and offshore trusts, no one cares at all.

There is no way. Compared with those big projects and actions, it is not worth mentioning that China took off to buy a civil optical equipment factory along the southeast coast.

Moreover, the expansion strength and return rate of take-off investment in recent years are not very ideal.

You should know that many enterprises that are not as strong as China's take-off have their assets soaring after the establishment of investment companies. After all, domestic real estate is in the ascendant, all kinds of bulk commodities are particularly hot, and there are regulatory loopholes in local financial institutions, Through their own investment companies, these enterprises can make a lot of money as long as they use their brains in these areas.

But take-off China seems to have stepped on the wrong pace in this investment trend.

In addition to helping China Merchants Bank control several local financial institutions and supporting two powerful real estate developers, the rest of the investment still focuses on the manufacturing industry, so the return on investment can be imagined.

Because of this, it is widely said in the investment community that the take-off investment of the first brother in the investment community is just like the old man in the twilight, which has long been gone.

This argument can not affect the trend of public opinion. Therefore, there is little news of take-off investment in the market in recent years, so that people who do not know the inside story think that take-off investment has long been on the street.

But I don't know that take-off investment has not been idle in recent years, but different from the so-called "value" investment in China, take-off investment focuses more on the overall and closed-loop industrial chain.

Especially around the chip investment, take-off investment has spared no effort to build a closed loop of the whole chip industry chain by relying on two chip manufacturing and special equipment manufacturing entities, whnb integrated circuit manufacturing Co., Ltd. (Group) and wznb microelectronic equipment manufacturing Co., Ltd. (Group).

Especially after China's accession to the world trade organization, take-off investment takes advantage of the opportunity of deepening globalization and opening up European and American markets. On the one hand, it introduces advanced technology and on the other hand, it excavates high-value talents.

In the five years from 2002 to 2006, the angel investment of Tengfei investment in returning high-end talents engaged in chip industry chain entrepreneurship in Europe and America was as high as 6.8 billion yuan, including three prominent start-up companies, and Tengfei investment has led three rounds of investment successively.

Of course, most of them ended in failure, which inevitably caused huge losses to China's take-off; However, it is undeniable that a number of high-end manufacturing enterprises in the chip industry chain have long been cultivated through incubation.

For example, a doctor who returned from the senior technical director of Texas Instruments in the United States to start a business in China established a high-end etching machine equipment R & D center in China according to his own technology and patents.

In the first few years, they basically lived on the funds of take-off investment, and even nearly fell into the street because partners could not afford to withdraw halfway through the long development cycle.

Zhuang Jianye personally found the doctor, poured several bowls of poisonous chicken soup, and found another teacher Ma trained by himself as an example. He took the lead in giving the doctor the third round of investment, which enabled the enterprise to survive.

Today, the etching machine produced by the enterprise has passed the test of whnb integrated circuit manufacturing Co., Ltd. (Group) and has been incorporated into the supply chain. On this basis, TSMC, Samsung and Intel have also thrown olive branches, and the enterprise has officially entered the formal stage.

In addition, there are lithography machines. In addition to the 193nm domestic optical technology produced by wznb microelectronic equipment manufacturing Co., Ltd. (Group), the magic electronic instrument factory invested by Tengfei also began to make efforts in this regard.

However, unlike wznb microelectronic equipment manufacturing Co., Ltd. (Group) which is purely domestic, magic electronic instrument factory follows the successful path of many enterprises in the southeast coast and takes a gradual development path of introduction, digestion, absorption and re innovation.

In this regard, the take-off investment did not interfere with the decision-making of magic electronic instrument factory, but actively helped magic electronic instrument factory to integrate the supply chain, such as optical equipment in Germany, condensing parts in Switzerland, transmission mechanism in Italy, industrial control equipment in France, precision devices in Japan, etc.

With some domestic parts, within three years of reorganization, magic electronic instrument factory launched the first 90 nm lithography machine. Although it was under the banner of domestic production, the internal localization rate was only a poor 15%.

In particular, the core parts are almost 100% imported. The relevant supporting suppliers also restrict the 90 nm lithography machines produced by the magic electronic instrument factory, that is, these lithography machines with European and American parts shall not be used in the production and manufacturing of military products.

Take off investment doesn't care about this. The reason why it participated in the investment and restructuring of magic electronic instrument factory and invested a huge sum of money of more than 5 billion yuan for this purpose is not only to make profits, but also to set up a window for foreign exchange for the chip industry chain with huge investment.

After all, it is a fact that domestic semiconductors are not as good as Europe and the United States. Because of this, it is impossible to build a car behind closed doors. Therefore, it is very helpful to learn the principle of advanced equipment through parts assembly and explore other people's and paths, parts processing and process scope, so as to improve their own domestic level.

In any case, in recent years, a large number of high-level engineers in wznb microelectronic equipment manufacturing Co., Ltd. (Group) can study all kinds of components through relevant equipment, with their and years of accumulated experience.

It is true that not long after the launch of the 90 nm "domestic" assembly lithography machine in the magic electronic instrument factory, wznb microelectronic equipment manufacturing Co., Ltd. (Group) has approved the pure domestic 90 nm deep ultraviolet lithography machine, and completed the assembly of the prototype half a year ago. Now it is being tested by whnb integrated circuit manufacturing Co., Ltd. (Group).

Once completed, it will be preferentially incorporated into the production and manufacturing of chip level rubidium atomic clock, so as to become the chip level atomic clock with the highest degree of technology in the world.

No way, the 90nm chip manufacturing process was first applied by Intel on the upgraded version of Pentium 4 processor in 2004. If China completes the launch of the second-generation navigation satellite before April 2007, it is only three years away from the world's leading level. To be honest, this gap is not big. As long as this rhythm is maintained, domestic semiconductors still have the opportunity to enter the first echelon in the world.

But this premise is to solve the problem of money first!