Top of the Great Era

Chapter 1520 Hard core technology depends on flooding
At the investment promotion conference, a big leader was present.

Zhou Buqi had an in-depth conversation with him on the topic of investment for 20 minutes, focusing on investment in the technology field.

Domestic media must report to the Information Administration, except for the Caixin Department.Therefore, during the control of speech, all the media in the country must have a unified voice, and only the Caixin Department can make some different voices and maintain a certain space for speech in the economic field.It is this leader who is supporting.

The investment in the domestic technology industry is really too weak.

Especially hard-core technology, almost none.

As long as Zhou Buqi persuades the leader in charge of finance, the policy can be changed.

Because Ziweixing and Asda have been involved in the development of some chip fields, Zhou Buqi has a deeper understanding of this industry.

Don’t think about high-end chips, but low-end chips... a large part of the low-end chips with a relatively high domestic rate are also bought from foreign wafers, and then come back to cut it yourself, put it in a casing and test it. It is a finished product, which is independent intellectual property rights. up.

Some real 100% domestic chips are actually large knockoff versions.Take the low-end chip from abroad two or three years ago, disassemble it and take pictures under the microscope, and then design the board with exactly the same circuit, and then make it.

But even if it is copied, there is still a huge gap in performance and craftsmanship, so we can only rely on price wars to grab the market.Several low-end chip companies related to smartphones invested by Ziweixing, such as Goodix Technology, which develops fingerprint unlocking chips, can try to make slight changes to the circuit after taking pictures, which is already a mess.

The root cause of this situation is actually lack of money.

Goodix's first-class chip designers earn hundreds of thousands of dollars a year, which is really too low.But let this barely profitable company pay engineers more, and they simply can't survive.

The rapid development of the Internet industry is largely due to the fact that the Internet industry can pay high salaries to talents.Even if the salary is insufficient, the future promise of options can be used to make up for the income.

If you want to do research and development, the most important thing is to pay and invest.

However, state-owned enterprises do not dare to invest, and they must bear the responsibility if the investment fails.Private enterprises are all owned by the boss himself. There is no such worry of stepping down if the investment fails, but there is a crisis of bankruptcy if the investment fails.

What if the company doesn't pay?
The research and development of hard-core technology in the world has never been dominated by enterprises, but by the state paying to cultivate industries and markets. After the industry is established, enterprises will naturally enter the market when they see that it is profitable.

Europe, the United States, South Korea and Japan all set up their industries in this way.

However, domestic state investment and funds have basically flowed to the field of large infrastructure construction, building bridges, roads, houses, high-speed rails, and base stations... One after another beautiful large projects have been made, but the field of hard technology can only get very limited development. The funds were all invested in some fake projects, and the real powerful private enterprises that needed funds could not get the money at all.

There are many reasons for this status quo, a very important one is financial regulation.

Non-governmental private equity funds are not open.

In the early years, IDG was able to do it because Boss Xiong and this leader were good friends and had special approval.The few investment institutions that emerged later, either have a foreign background, such as Softbank SAIF, or a state-owned enterprise background, such as Lenovo Hony, all have certain privileges, but private capital cannot.

Capital is synonymous with capital society and cannot be let go easily.

This leads to so few institutions, so little money, what results can be invested?It is lucky to be able to invest in the Internet industry, and rely on foreign capital to invest money.

With just a few dollars, it is impossible to start a hard-core technology industry, and there must be a huge amount of capital investment.

It must be like flooding.

Invested 1000 billion, wasted 999 billion, and if 1 million of the investment paid off, it was a great success.

In the initial stage of the industry, there will be huge losses.

State-owned enterprises are unwilling to bear this loss, and private enterprises cannot afford it. Who will bear it?No one is responsible, how can the technology industry make substantial progress?
To achieve this, more investment institutions must participate, especially the private market should be opened up, allowing more private investors with professional capabilities and investment vision to raise funds from various markets at home and abroad approach.At the same time, the state has set up a large investment fund in the strategic field of science and technology to pour money into the industry.

Under the flood, there must be many liars fishing in troubled waters. This is normal, and it is the same all over the world.While strengthening the supervision of investment funds, we must focus on a number of key development projects and develop them regardless of the cost.

Zhou Buqi suggested that the country could send a delegation to visit Temasek Investment Company in Singapore.

This is a state-owned enterprise in Singapore. In the early years, it also encountered various problems, such as low efficiency, internal and external collusion and fraud, investment by related households, etc. After overcoming various difficulties, Temasek is now the most successful company in the world. One of the investment companies, especially in the field of technology investment, can also be ranked among the top five in the world.

Zhou Buqi's words were full of sincerity, and they were also his feelings after hearing the reports from Cheng Binghao, Liu Qing, and Nie Caijun in the capital this time.

Of course, Ziweixing is not short of money, and Ziweixing even cooperated with Giant to launch an investment fund to invest in the supply chain industry of smartphones.

However, the foundation of the industry is too poor. It is impossible to start this industry relying on the strength of these two private enterprises alone. The state must take action.

The country does not need to fight in person, it can imitate Temasek's model.For example, in this domestic 4 trillion plan, 5000 billion will be used to lead the establishment of 3-5 large investment funds. How can they invest in more than a dozen relatively powerful domestic low-end chip companies instead of foreign countries? Once China's chip industry is in crisis, it will be embarrassing in China.

There are many low-end chips in China that claim to have achieved independent property rights, such as MOS tube chips for electric vehicles.However, after the financial crisis in 08, the international chip market also encountered a crisis, with chip production greatly reduced and prices skyrocketing.For example, the price of MOS tube chips has increased from 2 yuan to 8 yuan.

It is reasonable to say that the foreign chip industry has encountered a crisis, and it is a domestic opportunity. The domestic MOS tube chip can use the price advantage to kill the Quartet and grab the market!

The results of it?
Foreign prices have risen, and domestic prices have also risen sharply.Not only did not grab the market, but the market share has shrunk.

The reason is that low-end chips such as domestic MOS tube chips are also wafers bought by domestic manufacturers from abroad, and the packaging and testing become domestic.Now foreign manufacturers are not enough for themselves, how could they sell to domestic?
If the country can spend 5000 billion to enter the market and bring back some low-end and mid-end chip talents who have been lost abroad, it will be relatively easy for high-level talents to be poached.In this way, the domestic low-end chip market can be truly localized.After the foundation is laid, it will develop into the mid-to-high-end field.

Zhou Buqi speaks earnestly and earnestly.

The chip industry is related to the country and is the backbone of the entire electronics industry.Foreign countries are working on nanometers, but domestic ones can at least do a good job at the micron level.

The leaders also spoke earnestly, saying that the country's financial resources are limited, and the primary problem is to solve the problem of food and clothing, so that the people in some areas can eat well and wear good clothes, and solve the livelihood issues such as medical treatment and living security for low-income groups.Investment in the technology industry still hopes that companies can assume more social responsibilities.

At the same time, he also said that the financial market will definitely be gradually liberalized, relax the review standards for private investment institutions, allow more capital institutions to enter the market, and revitalize the leveraged economy.He also said that a meeting will be held later to study the plan of the National Fund.

Time was limited, so the two chatted about a general direction and agreed to talk later.

The two have a very close relationship, and have dealt with each other many times in the capital in the past, especially the in-depth communication on Shengshi Cycling to support the Olympic Games. At that time, Zhou Buqi was still a fledgling college student.

Li Guoqing also said that when he was at Peking University, he failed to publish books and start a business. The books were not sold, and he went to the system with hundreds of thousands of debts to work under this leader.

In the 80s, a college graduate with so much debt would be basically useless for a lifetime.The leader appreciated Li Guoqing's talent very much, and felt that it was a pity that such an outstanding young man would be discarded from now on. He suggested that he go abroad and run away as soon as possible.

Li Guoqing was not reconciled and insisted on staying.Later, relying on the relationship of this leader, he sold all the unsold books in the system. Not only did he pay off his debts, but he also had a balance of more than [-] yuan, which gave him his first pot of gold in his future business.

……

Two days later, Huayi was listed on the GEM.

After the listing, Jieyu Media holds 12.8% of the shares, which is the second largest shareholder after Wang Xiaojun. Zhou Buqi personally holds 1120 million shares, accounting for 9.3%, less than Wang Xiaolei, and is the fourth largest shareholder.

The rest are a group of film and television stars.

For example, Feng Dao holds 2% of the shares, Zhang Jizhong holds 1.6% of the shares, and there are all kinds of celebrities from all walks of life, all of which are internally purchased stocks.There are also a group of artists such as Zhou Xun who obviously got the internal quota, but worried that the investment would fail and did not claim it.

It's just weird.

周不器也就没客气，把这批剩下来的103万股的内部配额。虽说认领的价格从一期的1元1股涨到了3元1股，但也很划算。

In March, he bought the stock with his own money, and then divided it into three equal shares and gave them to three girls, Yang Mi, Li Xinwan and Jiang Bingjie.

The lock-up period for such insider shares is 3 years.

Although there are only 34 shares per person, after three years of nurturing, they are enough to feel the love of the gold master's father.

10月30日，华易的股票以28.58元的发行价正式登陆创业板，上午10点10分，股价就冲高到了75.2元！
The rise was as high as 163%!

The era without daily limit is really crazy.

Zhou Buqi personally holds 1120.4 million shares, with a book value of 8.4 million yuan.

At the close of trading in the morning, the stock price had soared to 91.8 yuan, and Zhou Buqi's shareholding value had reached 10.2 billion yuan.The value of the shares held by Jieyu Media exceeded 13 billion yuan.

Fortunately, both Zhou Buqi and Xu Baihui have seen strong winds and waves.

13 billion, less than 2 million US dollars!

Nothing.

But those entertainers and stars couldn't do it anymore, they all screamed and danced with excitement.Including the Wang family brothers, all of them had flushed faces, as if they were drunk, with a dazed and happy face.

While eating lunch, Zhou Buqi received a call from Yang Mi, and cheered happily: "Dad! Dad! The sponsor's father! The stock price is more than 90 yuan! The stock you gave away is worth more than 3000 million! You really are the gold master's father!"

Zhou Buqi snorted coldly, and said a lesson: "No prospect!"

(End of this chapter)