Share the QR code < / P > < p > with wechat scanning code to friends and circles of friends < / P > < p > [text / observer network Lv Dong] < / P > < p > < / P > < p > at the end of 2021, the biggest good news for Longxin Zhongke, a domestic CPU design enterprise, is that the IPO of Kechuang board is officially submitted for registration after half a year's review. If the speed is fast enough, Godson Zhongke's shares should be listed and traded before the Spring Festival, becoming the first domestic CPU company in a shares p> < p > just a week ago, Intel, an American CPU giant, provoked indignation among many Chinese people when it raised issues related to Xinjiang. Netizens who have been hurt by national feelings are in a fierce but helpless mood. They pointed to the name of domestic CPU manufacturers and said: if the domestic CPU is strong enough, Intel will not be so arrogant. Among them, those named include Godson p> < p > Longxin, which is backed by the Chinese Academy of sciences but is actually controlled by Mr. and Mrs. Hu Weiwu, is undoubtedly the most thoroughly localized CPU among the "domestic" CPUs. Unlike other peers, which are often authorized based on X86 or arm, Godson's instruction set system and IP core are all self-developed, which is truly self-control p> < p > however, complete autonomy brings mixed praise and praise. How pure the technology is, how difficult it is to commercialize it. It is still controversial whether the road chosen by Godson is really suitable for the development of China's CPU industry. Even the national integrated circuit "big fund" has not chosen Godson as the investment object p> < p > in a sense, Hu Weiwu is the most "stubborn" man in China's CPU industry. Although he has gained a great reputation and enjoys huge government subsidies every year, it is still full of doubt whether Godson can really carry the banner of domestic CPU p> < p > limited financing channels < / P > < p > Longxin, which is highly expected by netizens, is not large. To restore the company according to the data in the prospectus, its basic situation should be as follows: it has a history of 20 years, but there are only more than 700 employees. The total revenue in the past three years is less than 2 billion, the net profit is less than 300 million, and the proportion of government subsidies in the net profit is more than 85%. R & D investment is 360 million, accounting for about 25% of revenue p> < p > over the years, the financing channels have been limited, and making chips is very expensive. Godson's breakthrough in the scientific innovation board obviously needs help. The company, which claims to be independent to the end, plans to raise 3.5 billion yuan in IPO, which is not only twice its total revenue in the past three years, but also twice its total assets. The raised funds will be used in three aspects: advanced process chips, high-performance general processor chips and supplementary working capital p> < p > although the amount raised by Godson IPO is not enough for Intel to burn in half a month, the goal of the former is very ambitious. In order to commercialize its products, Godson has to fight against foreign enterprises such as Intel, AMD and arm, and compete for share with Huawei Kunpeng, Tianjin Feiteng, haiguang information, Shenwei technology and Shanghai Zhaoxin. What is more difficult is that Godson not only wants to catch up in performance, but also plans to establish a system completely independent of the West p> < p > we should not only catch up with and surpass the technology, but also improve the ecology. With strong enemies around, can Godson do it p> < p > Godson was not originally the name of a company, but a substitute for the first high-performance general-purpose processor developed in China. According to the information on the official website of Godson Zhongke, in 2001, the Institute of computing of the Chinese Academy of sciences began to develop Godson processor, which was supported by many national major projects such as nuclear high base. After 10 years of technology accumulation, the Chinese Academy of Sciences and the Beijing Municipal Government jointly took the lead in funding the establishment of Godson Zhongke, with the purpose of industrialization of Godson's R & D achievements p> < p > on the 20th anniversary of the establishment of the research group, Godson Zhongke has formed Godson 1 series processors for embedded special applications, Godson 2 series processors for industrial control and terminal applications, and Godson 3 series processors for desktop and server applications p> < p > based on these products, Godson Zhongke has also formed two business lines: information system and industrial control system. Among them, Godson 1 series and Godson 2 series are mainly for industrial control applications; Godson 3 series is mainly for information applications, and some are for high-end industrial control applications. By benchmarking Intel amd processors, we mean Godson 3 series, which is mainly used for PCs and servers p> < p > independent and controllable technology has always been the slogan of Godson. According to Hu Weiwu, chief designer of godson, anyone who builds a house on the "Western foundation" will eventually be vulnerable. The goal of Godson is to build a completely independent technical system and adhere to arming Godson with Mao Zedong thought. In this context, Longxin Zhongke has also formulated a set of selection and employment standards: "both red and expert, and red is more important than expert" p> < p > since ZTE was sanctioned by the United States in 2018, the research and development of independently controllable domestic chips has almost become the consensus of all walks of life in China's industry, University and research. It is common for companies to rub against domestic alternative hot spots for large-scale financing in the market. Longxin's loud slogan of "going to the end independently" did not seem to arouse the interest of the capital market. From 2018 to 2020, Longxin Zhongke has only made one capital increase p> < p > it is worth mentioning that although the official background is clear, Godson is not a state-owned holding company. In the latest equity structure of Longxin Zhongke, Hu Weiwu and Jin Hong are the actual controllers of Longxin Zhongke, controlling 33.61% of the voting rights of the company in total. They also serve as the chairman and investment director of Longxin Zhongke respectively; The second is state-owned shares. Zhongkesuanyuan, which is controlled by CAS, and Beigong investment, which is controlled by Beijing state owned assets, hold 21.52% and 7.7% respectively. The rest are basically domestic private equity funds p> < p > in contrast, the AI chip enterprise Cambrian founded by Hu Weiwu's disciple Chen Yunji has successively won the favor of Star Industrial capital such as Alibaba, Lenovo Group, iFLYTEK and SDIC fund in several rounds of financing before IPO p> < p > if private capital is unwilling to sit on the bench in the domestic CPU, which has almost the highest technical and ecological barriers, the national integrated circuit industry fund (hereinafter referred to as the big fund) with the ultimate purpose of industrial support should have paid attention to Longxin Zhongke for a long time p> < p > since the foundation, both the upstream EDA Company Huada Jiutian, the equipment enterprise Zhongwei company, the material enterprise NANDA optoelectronics, the design enterprise Ziguang zhanrui, the midstream wafer foundry SMIC international, and the downstream enterprise Changdian technology have received capital injection p> < p > however, there is no large fund in the list of shareholders of Godson Zhongke and five other domestic CPU enterprises p> < p > on this rather difficult road, Godson has another channel to obtain financial support, that is, government subsidies p> < p > in 2018, government subsidies accounted for more than 85% of Longxin Zhongke's profits ?
2023-03-22 10:04:48