Share with friends and circles of friends with wechat scanning QR code < / P > < p > the news that many large fund related persons have been investigated has aroused great concern in the industry. The industry believes that the investment in China's chip industry in the future may have the effect of arousing thousands of waves with one stone < p > on July 28, it was reported that Ding Wenwu, President of national integrated circuit industry investment fund Co., Ltd. (hereinafter referred to as "big fund"), was investigated by relevant departments. Ding Wenwu was once the director of the electronic information department of the Ministry of industry and information technology. Since the establishment of the large fund in 2014, he has served as the president and is the main person in charge of the large fund

Ding Wenwu was born in March, 1962 in Haiyuan County, Ningxia Hui. Graduated from Hefei University of technology in 1988, majoring in Electronic Science and technology. He has successively served as the deputy director of the Department of electronic information products management of the Ministry of information industry, the deputy director of the Department of electronic information of the Ministry of industry and information technology, and the director of the Department of electronic information of the Ministry of industry and information technology on August 16, 2011 < p > after the establishment of the arrogant fund, Ding Wenwu successively served as the general manager and director of the first and second phases of the large fund. Before being investigated by relevant departments, Ding Wenwu was one of the main principals of the big fund

in addition, according to the content released on the website of the Central Commission for Discipline Inspection and the State Supervision Commission on July 15, Lu Jun, the former deputy director of the National Development Fund Management Department of the China Development Bank, is suspected of serious violations of discipline and law, and is being subject to the disciplinary examination of the discipline inspection and supervision team of the Central Commission for Discipline Inspection and the State Supervision Commission in the China Development Bank and the supervision and investigation of Jilin Provincial Supervision Commission. Lu Jun is also the president of the former Huaxin investment management company and has participated in the management of large funds

according to media reports, on the same day Lu Jun was investigated, wangwenzhong, a partner of Shenzhen Hongtai Fund Investment Management Co., Ltd., was also taken away by relevant departments

Zhao Weiguo, then chairman and CEO of Ziguang Group Co., Ltd., who was also taken away for investigation on the 25th of this month, also participated in the meeting with Ding and Lu

a number of people in the chip industry confirmed the above news to reporters. "Ding Wenwu's news was known last week, and it was a little sudden." A chip person said that he had also seen president Ding speak at a recent industry summit

the news that several large fund related persons were investigated has aroused great concern in the industry. The industry believes that investment in China's chip industry in the future may have the effect of provoking thousands of waves with one stone

the big fund was established in September 2014 to promote the development of the integrated circuit industry. It was initiated by enterprises such as CDB finance, China tobacco, Yizhuang state investment, China Mobile, Shanghai Guosheng, China Electronics Technology, Ziguang communication, and Huaxin investment. The scale of the fund is about 120billion yuan. The fund focuses on the integrated circuit chip manufacturing industry, taking into account chip design, packaging and testing, equipment and materials and other industries, and implementing market-oriented operation and professional management

the first phase of the large fund was established in September 2014, with a scale of more than 130 billion yuan < p > in 2018, the investment of phase I fund was basically completed. Among the investment targets, chip manufacturing accounted for 67%, design accounted for 17%, packaging and testing accounted for 10%, and equipment and materials accounted for 6%. The invested enterprises include SMIC international, Shanghai Huahong, Changjiang storage, Ziguang zhanrui, San'an optoelectronics, Changdian technology, northern Huachuang and Zhongwei semiconductor

the second phase fund was established in October 2019, with a scale of more than 200billion yuan

the investment of the second phase of the large fund involves the whole industrial chain of integrated circuits, of which the investment in wafer manufacturing is about 59.4 billion yuan, accounting for as high as 75%, and the investment in integrated circuit design tools and chip design is about 8.1 billion yuan, accounting for 10%; The investment in packaging and testing is about 2.1 billion yuan, accounting for 2.6%; The investment in equipment, parts and materials is about 7.5 billion yuan, accounting for 10%; The application is about 1.9 billion yuan, accounting for 2.4%. The equipment that big fund phase II focuses on includes etching machine, film equipment, testing equipment, cleaning equipment, etc., and the materials include large silicon wafer, photoresist, mask, electronic gas, etc

according to the data of enterprise investigation, there are 80 foreign investment projects disclosed by large funds, and the earliest investment time with public records is 2015

China business news reporter found that large funds are closely related to Ziguang group and Ziguang zhanrui. In June 2020, he became a shareholder of Ziguang zhanrui, with a subscribed capital of 700million yuan, accounting for nearly 14% of the investment

(from the left, Diao Shijing, CO president of Ziguang group, Lu Jun, President of Huaxin investment, Zhao Weiguo, chairman of Ziguang group, Ding Wenwu, President of national integrated circuit industry investment fund, Zhang Yadong, President of Ziguang group, Qi Lian, CO president of Ziguang group) < / P > < p > in addition, in 2016, large funds also launched two investments in Hubei Ziguang and Yangtze River storage, involving Ziguang group. The investment scale of the two projects reached 14.14 billion yuan and 13.56 billion yuan respectively, with the shareholding ratio of 49% and 24% respectively, and the total investment scale was close to 30 billion yuan

from the perspective of the investment of the second phase of the large fund, since the establishment of the second phase in 2020, the number of foreign investment shown by public information has also reached 37. In terms of investment scale, the scale of the second phase fund is 200billion yuan, and the investment in Ziguang zhanrui is 189million yuan, accounting for 3.7% of the shares. The investment time is also June 2020. That is, the first and second phases of the large fund have invested in Ziguang zhanrui, accounting for 17.7% of the total

it is worth noting that a press release suspected of being issued by the official of Ziguang group on September 17, 2018 shows that Ding Wenwu and Lu Jun, then president of Huaxin investment, who was previously investigated by the Central Commission for Discipline Inspection, went to Ziguang group for investigation

Zhao Weiguo, then chairman and CEO of Ziguang Group Co., Ltd., who was also taken away for investigation on July 25, also participated in the meeting with Ding and Lu < p > during the meeting, Ding Wenwu and Lu Jun made an explanation on the transfer of the equity of Tsinghua holdings to Ziguang group. As for the change of equity, Zhao Weiguo said that the share reform plan of Tsinghua holdings will introduce new resources to Ziguang group, which "graduated from Tsinghua", and further promote the marketization and internationalization of Ziguang group. Ding and Lu also said that the big fund and Huaxin investment will continue to support the development of Ziguang and continue to deepen cooperation in the future

according to the suggestive announcement on the transfer of part of the equity of Ziguang Group Co., Ltd. by the actual controller released by Ziguang on September 4, 2018, Tsinghua holdings signed equity transfer agreements with Suzhou high speed railway Xincheng state owned Assets Management Co., Ltd. and Hainan United Assets Management Co., Ltd., respectively, transferring 30% and 6% of the equity of Ziguang group held by Tsinghua holdings to high speed railway Xincheng and Hainan United

enterprise survey data shows that the legal person of Changjiang Storage Technology Holdings Co., Ltd. is also Zhao Weiguo, the former chairman of Ziguang group. Insiders told China business news that Ziguang group took over Wuhan Xinxin and established Changjiang storage, mainly doing 3DNAND chips were invested by large funds, and later Wuhan Xinxin became a subsidiary of Changjiang storage

the projects invested by large funds also include the investment of RMB 3billion in Shanghai IC industry fund, accounting for 10.5% of the shares. In 2017, the large fund invested 550million yuan in wuyuefeng integrated circuit company, accounting for 27.75% of the shares

a relevant person of a large fund invested enterprise told China business news that the personnel shock of the large fund will not affect its development. "They have invested in many companies, which are normal business contacts." The relevant person told China business news

public information also shows that the chairman of phase I and phase II of the large fund are building light, and the main personnel are in addition to Ding Wenwu, the general manager of phase I fund, there are six other directors and six supervisors; The second phase fund includes another 9 directors and 13 supervisors

a person familiar with Ziguang also told the first financial reporter: "Lu Jun and Ding Wenwu were investigated, and it is estimated that they have little connection with Ziguang; Zhao Weiguo was investigated for his own reasons, and has little relationship with the enterprise."

the above person also said that the scale of the second phase of the large fund is as high as 200billion yuan, but the scale of the projects invested since its establishment is very small, and the main reason may also be related to the investigation of relevant personnel. "Over the past two years, big funds have been doing audits and have not made large-scale investments." He told China business news

the above-mentioned person also said that although the return on investment of large funds was very high in the past, looking at making money, it is still difficult to decide whether the projects actually invested are good or bad. "The high return on investment is due to the fact that a group of people in the secondary market followed suit when large funds invested. After the stock price was fried up, large funds frequently reduced their holdings and suppressed the price again." The insider said

the future direction of large funds has also been called a "century problem" by some industry insiders. Now everyone feels that investment has no direction at all. "Many people in the industry still don't know how to answer the question of which projects should be invested and how to invest to better support domestic semiconductor integrated circuits." Gartner analyst Sheng Linghai told China business news
2023-03-22 10:04:54