Reinventing the Millennium.

Chapter 404 East Window (Two in One)

DCM is set!

almost.

Goldman Sachs is set!

Also almost.

Deutsche Bank is set to... oh, no real progress has been made yet.

After Fang Zhuo returned to Shencheng, he met with three investment institutions respectively and adopted different attitudes.

DCM was originally planned, and Connor, as he said, fully supported the project he valued.

Because of the two connected transactions of Sina Fixed Growth and Yike’s IPO, Goldman Sachs suddenly became your friend. Although Xu Kaiwei is the chief representative of Goldman Sachs in China, he will still be influenced by the voices of other business departments.

This is like risk hedging. Regardless of whether Bingxin can make money or not, Sina and Yike have already had tangible benefits to fill in. What's more, there is no problem with the overall inspection of Bingxin's project, so you have to vote if you have to!

As for Deutsche Bank, Fang Zhuo saw that Connor from DCM and Xu Kaiwei from Goldman Sachs were both in the conference room, and only Zhang Hongli from Deutsche Bank was in his own president's office. About 30% of the conversation was related to Bingxin.

Fang Zhuo has an intuition for Zhang Hongli, who is very cautious in project investment.

That being the case, let’s put our energy in the right place first. As long as Goldman Sachs and DCM are completely settled, the financing progress of Bingxin’s project will be 99% complete, with a difference of more than 5 million and a difference of more than 1 million. The space for operation is not the same. language.

In the first week of September, Fang Zhuo was based in Shencheng, Qiu Ciyun took root in Luzhou, one continued to invest in funds, and the other determined a suitable factory site.

With the gradual entry of funds from various companies, the shareholding ratio of CSMC whose registered address is in the Cayman Islands changes almost every day, gradually revealing the planned framework.

Fang Zhuo did not include the terms of transfer of management rights in the initial agreement with DCM and Goldman Sachs. The difference between him and SMIC Zhang Rujing is that he can firmly grasp the ownership of the company through equity.

30% of the shares held by the company + 14.4% of Luzhou State Investment + 10% of the option pool held by a third-party company on behalf of the company, this has absolute decision-making power, and this does not include IDG, which has not yet received funds, even if it continues to raise funds in the future , can still control the board of directors.

On September 9th, DCM picked an auspicious day to sign a formal agreement with Bingxin CSMC.

There was no champagne, no celebration banquet, and no media reporters were invited. Only Yike's people took a few photos.

In the photo, both Fang Zhuo and Connor were smiling happily, and the photo of them holding the contract and shaking hands was even asked by Connor to go back as a souvenir.

DCM came to China to develop business. As a partner, Connor chose the semiconductor industry, and the two investment projects he is promoting are Ice Core and SMIC.

Needless to say, SMIC is about to go public, and its scale and performance are destined to perform well in the stock market.

Well, the ice core has a future.

Connor believes that China's semiconductor industry will develop rapidly to a certain extent, and he will be able to obtain a lot of profits from it.

Three days later, Goldman Sachs Group, which had maintained a tacit understanding with Deutsche Bank, also happily signed a formal agreement with Bingxin CSMC, and also became a member of the company's board of directors, with Xu Kaiwei, the chief representative, as the director.

So far, Yike Group, Luzhou State Investment, MIGA Fund, Goldman Sachs Group, DCM, Huaxia Enterprise Investment have all reached cooperation with CSMC Bingxin, and jointly invested 7.5 million US dollars to build a domestic advanced fab project.

Now, only Deutsche Bank and IDG have not completed their tasks.

Fang Zhuo did not contact the two companies immediately. He spent two days thanking the various local governments. He said that there was no cooperation this time, and that he would still have the opportunity to build a production line next time, just as SMIC not only built factories in Shanghai. Same.

In the future, there is still a lot of room for cooperation between ice cores and local governments.

On September 9th, CSMC held its first high-level meeting of the company. Five directors were supposed to attend, but four actually attended. The absent one belonged to the MIGA fund. Everyone knew the intention of setting up this seat and did not express anything. view.

Fang Zhuo, Xu Kaiwei, Connor, and Wu Hongquan representing Luzhou State Investment, these are the four effective board members who can vote on the spot.

Also attending the meeting were senior technical backbones such as Qiu Ciyun who returned from Luzhou, and Yike's supply chain director Sun Qi.

Today's meeting mainly discusses international equipment procurement.

It was precisely because of this that Qiu Ciyun returned to Shencheng specifically. He had already drawn up a list of equipment, but due to Fang Zhuo's non-professional status, he had to explain the situation face to face.

"According to our purchasing experience in the past two years, European equipment is relatively easy to buy, but Asian equipment like Singapore is not easy to buy. They mainly consider their own industrial protection, and there will be administrative intervention."

“Israel is also good, they are happy to sell equipment, but they have a bad thing is that the follow-up maintenance and upgrade costs are very expensive.”

"SMIC's initial equipment replacement was purchased from Israel. After a year of calculation, the follow-up cost almost caught up with the initial purchase of equipment."

Qiu Ciyun in the meeting room talked eloquently and introduced the procurement situation.

At the end of his speech, he added: "Many of SMIC's second-hand equipment is obtained through Mr. Zhang's contacts. If we can't buy them, I'm afraid we need to buy new ones. Moreover, I'm sure about the latest international purchases. I don’t know much about it yet, I’m afraid I’ll have to run around to evaluate it.”

Fang Zhuo listened very carefully. Although he basically didn't understand this field, he knew how to employ people.

He first ordered Sun Qi, the director of his company, and asked: "Mr. Sun has been running business and communication internationally all year round. Mr. Sun is responsible for the cooperation between Yike and Japan's Toshiba. Can you expand the scope of business next? Discuss and give a result."

Fang Zhuo told Sun Qi and Qiu Ciyun to communicate with each other. The former is proficient in the international procurement process, and the latter is familiar with the equipment demand situation, so they should be able to complement each other. As for Yike's supply chain, it is now very stable, and it is enough to promote the deputy.

"Mr. Xu, the new CFO recommended by Goldman Sachs is very useful. Can you recommend it to others in the area of ​​equipment purchase?"

Fang Zhuo turned his head and communicated with Xu Kaiwei who was sitting next to him. The meaning was very clear. However, after signing the contract, everyone is on their own, so hurry up and help with equipment procurement.

Xu Kaiwei pondered for a while, and said: "We are definitely willing to help, and try our best to make sure that there are no problems at the equipment level, but to be honest, the help that Goldman Sachs can provide is more convenient in the United States."

Goldman Sachs is a global group, but its influence is naturally the strongest in the base camp.

However, the US equipment procurement encounters the highest standard of scrutiny.

The influencing factors on both sides are entangled together, and what the final result is, you really have to try it to know.

Fang Zhuo asked Qiu Ciyun what he meant, if he could buy American equipment, he would naturally buy American equipment, most of which are the best.

In this way, we need to finalize one thing first and adjust the focus of procurement. Originally, the US equipment with the strictest scrutiny was put at the end, but now it is going to the US to try it first. If it is not satisfactory, then consider alternative products.

"Is there any equipment in our country that we can buy?"

Fang Zhuo asked again with a smile after he made a decision.

Qiu Ciyun thought for a while, and replied: "Very few, and there are a small amount of domestic equipment in SMIC, but there is a problem. We still have to consider subsequent technological upgrades. There is still a long way to go in this regard in China."

"Especially semiconductor materials, almost all of which are imported by SMIC. The gap in this aspect in China is even greater than that of equipment. It may not take a few years to catch up."

Fang Zhuo nodded slightly, not disappointed.

The most important task now is to build a production line with combat effectiveness, just like the development of a country. Of course, we must take advantage of the advantages of economic globalization to actively develop and learn from each other's strengths. When we really have a scale and influence one day, we must make risk preparations.

The purchase of American equipment will be coordinated by Qiu Ciyun and Sun Qi, and then the Goldman Sachs team in the United States will start intensive work this month.

The meeting confirmed this, and the second point of discussion was the future market issue.

Although the production line is not yet in sight, the discussion of the market is not only about product sales themselves.

The semiconductor industry is different from other industries. When foundries process products designed upstream, those IC design companies often provide some related technologies.

Just like SMIC, they have successfully transferred a number of semiconductor processes and technologies below 0.21 microns from Toshiba, Infineon, Texas Instruments and other international manufacturers.

Of course, in addition to the technology transfer of major international manufacturers, the patented technology and independent research and development of partners are also important sources of technology.

Bingxin obviously does not have the strength to aim at the world-class level of craftsmanship. What it needs to do is to negotiate some not-so-bad orders to polish the technology and craftsmanship. Zhang Rujing can easily accomplish this because of his extensive contacts.

Qiu Ciyun felt that this might be a challenge for Bingxin, and he was fully prepared psychologically.

"The cooperation between Yike and Toshiba is very good. The product supply contract has been signed for many years. I believe that with the breakthrough of Samsung's storage technology, Toshiba will be willing to transfer part of the technology."

"If they're not willing to transfer the technology, we're looking at alternatives, which is a small plus."

Fang Zhuo made an arrangement that everyone expected, and then said: "For the other orders, don't worry too much for now. First, there is still time, and second, I have already prepared a package plan."

Everyone in the conference room was waiting for Mr. Fang to finish speaking, but Fang Zhuo stopped talking.

"So, Mr. Fang, what is the package plan you are talking about?" Xu Kaiwei, the new director of CSMC, thinks he can ask this question clearly.

"I can't say it for the time being." Fang Zhuo thought for a while and felt that he was one of his own people. He added, "The main reason is to win orders from Philips and Texas Instruments. I will inform everyone when there is progress."

Mr. Fang made a fool of himself.

People in the conference room had different ideas.

When Qiu Ciyun heard about "Texas Instruments", he suspected that Fang would always go to Mr. Zhang Rujing again. Mr. Zhang had worked for Texas Instruments for a long time before, and some of SMIC's orders were obtained by virtue of this relationship. Help with this matter?He is not a saint!

Xu Kaiwei thinks that Mr. Fang may be trying to boost everyone's confidence. The so-called "package plan" is probably non-existent. How can it be so easy to get orders in the market?What's more, Fang is always a layman.

As for Connor, he was cheerfully preparing to wait for Mr. Fang's progress notification next time.

The ice core CSMC meeting has been going on for a long time, and it is time for everyone to act when it is over.

That night, Fang Zhuo sorted out a meeting content, and emailed it to Xiong Xiaoge, who was not yet a director, but was mentally identified by him as a director.

After waiting for half an hour, he reckoned that the old bear would have a general impression, and then called.

"Old Xiong, our side is in full swing, why don't you IDG come?"

"Even if you IDG don't come, the money from those caring people in society should come quickly, don't be greedy."

"Old bear, old bear, I know you are listening, don't hide on the other end of the phone and keep silent."

Fang Zhuo said three sentences in the past.

A few seconds later, Xiong Xiaoge's hoarse voice sounded: "I am drinking water and taking medicine. I have used my voice too much these days. IDG will visit Shanghai in two days. It is a joint investment between China and the United States."

"Okay, drink plenty of water and see you in Shencheng."

Fang Zhuo got a satisfactory answer and quickly ended the call, not wanting to understand the working process.

Xiong Xiaoge held the phone, and wanted to ask a few more questions about the project, but he couldn't help coughing again.

He shook his head, put down his phone, and continued to concentrate on browsing the meeting content in his e-mail.

……

Just when Ice Core’s financing was successful and work was in full swing, on September 9, an ordinary passenger plane landed at Fort Worth International Airport in Dallas, Texas, USA on this ordinary day.

A group of people from Taiwan Semiconductor Manufacturing Co., Ltd. got on the special car to Texas Instruments, and they were going to get the chip products sent from mainland China with the company of the legal counsel.

The team that came to Texas Instruments this time includes Cai Lixing, general manager and chief operating officer of TSMC, Jiang Shangyi, senior deputy general manager of R&D, and Edward, general manager of the US subsidiary.

"Mr. Cai, are the people in Hsinchu moving together today?"

Jiang Shangyi sat in the car and asked Cai Lixing.

Cai Lixing shook his head: "After we compare the chip technology here and fix the evidence, then let the police in Hsinchu participate in the investigation."

"Actually, SMIC's chips can't be changed immediately. The Hsinchu company can control people first." Jiang Shangyi said with a smile, "Don't let people run away."

What they were discussing was an internal technology leak discovered by the company, and it was basically confirmed that an employee was using email to transmit confidential drawings to SMIC.

But after discovering this incident, he did not startle the snake, and planned to find more traces to convict him in one fell swoop.

At the same time, TSMC has already determined that it will be ahead of its action on chip technology, and this trip to Texas Instruments is to do the final evidence collection.

"Mr. Cai, do you think SMIC may continue to be listed?" Jiang Shangyi said cheerfully.

"It will definitely be listed, and it will be even worse if it is not listed. We chose to launch it before their listing, and SMIC is facing a dilemma. They can only choose to go public with bloodshed." Cai Lixing said confidently.

Jiang Shangyi nodded: "The matter of Dongchuang will last for a long time."

A group of people drove into the company of Texas Instruments while talking and laughing, preparing a gift for the upcoming SMIC.

(End of this chapter)