Please make money.

What the Dongjiao Research Institute studies should actually be called chips.

There is a branch of semiconductors called integrated circuits, which are roughly equivalent to what we now call chips.

If we talk about the industry, integrated circuits can only be considered as one quarter of semiconductor products at most, and generally not counted.

However, Alia had no way to get involved in the other ones. She didn't understand discrete devices, sensors, or optoelectronic devices.

...Hmm? The sensor may understand itself. Is that what Uncle San is doing?

Turning the page back, Alia felt that it would be better to focus on the present. It was not a big problem. Could Third Uncle be so stubborn as to stab her in the back?

He has already fulfilled his responsibility as an uncle by not taking money from me. I can't possibly get myself a huge amount of money that I can't spend...

In addition to software-related things, the Dongjiao Research Institute's hardware research is actually just one thing: integrated circuits (ICs)!

This thing occupies more than 80% of the market share in the global semiconductor market, and is divided into two types: digital chip and analog chip.

The analog chip market is small, and digital chips account for 80% of the market. This number, 8864, sounds auspicious, and it makes sense to make money just by looking at it.

So Mr. Meng plunged into the blue ocean, but when he got in, he found that it was not a blue ocean at all, but a swamp, not even a red ocean...

There is not enough money to spend, there is no market, there is no R&D talent and technology, and even manufacturing has to beg for help from everyone.

It's very rhyming, but also very depressing. The money invested in three years has gone down the drain, and the real money can't hold on any longer!

While Alia was still savoring the taste of the 1 billion on this page, Lei Fan had already finished reading it and started to attack on the spot.

"If this is the plan, then I advise you two to find a philanthropist - maybe a philanthropist would be interested in this kind of project!"

When others draw a pie in the sky, at least it looks like a pie in the sky. If it's successful, everyone can share it. If not, at least they can smell the fragrance.

They draw pie in the sky to lure people into the field: Look! Our wheat has sprouted! The pie is just around the corner!

If you want to talk about whether it is realistic or not, the technical aspect is indeed as solid as tilling the field, with a seed and a piece of soil, and tender sprouts visible to the naked eye.

But if you ask me whether it tastes good or not...can we hold on until the day when the wheat is ripe, harvested, husked, ground into flour, and kneaded into cakes?

Young Master Jing couldn't understand it. After flipping through a few pages, he felt a chill on his back and sweated profusely, just like Cao Cao who had his headache cured by reading the manifesto.

Turn one page and it’s one billion, turn one page and it’s one billion and one fifty million - hey, why is this so much - oh, I showed mercy on the next page, there is five hundred million less.

Is this something that humans can see?

Yu Dapao glanced at his old partner and said with some complaint, "Why do you want to do something so exciting?"

Trick them in first! Trick them in and then slowly kill them! Hook them up first and then use the sunk cost to make a scene!

If it really doesn't work, you can go public and then buy some leeks, pull the price up and sell them, then pull it up again and sell them down again. After all, the leeks now have a strong sense of self-management.

Didn’t the neighboring Jing Xfang rely on this trick to fill up its warehouse with patented screen technology?

Alia turned to the tenth page and raised her brows as she saw some plain business evaluation content.

How big is the semiconductor market? 500 billion US dollars!

But this money cannot be earned because of technological limitations. All the key things are in the hands of others, and we can only get the dregs of 500 billion yuan.

The simplest point is the problem of semiconductor manufacturing process, or the semiconductor manufacturing process.

In today's commercial field, 28nm is the watershed between mature processes and advanced processes. The lower the number, the more precise it is, and the more precise it is, the stronger it is.

Process technologies of 28nm and above are called mature processes, and process technologies below 28nm are called advanced processes.

Precision advanced processes are mainly used for high-performance, low-power products, such as in the production of mobile phones, computers, and memory chips.

Mature processes are used to manufacture small and medium-capacity chips, such as chips used in the Internet of Things, power management, display drivers, sensors, etc.

What Dongjiao Research Institute can produce are basically product designs with a process of 28 or even 40 - yes, the kind that does not have the production capacity yet.

They are now running out of money for tape-out, let alone the market, and after all the hassles, they are left with a bunch of product prototypes that cannot be monetized.

Mr. Meng looked at Alia's expression and the contents of that page. He was already familiar with these things: "Miss Alia."

"Ok?"

“Our product design may not be the most advanced, but sometimes the most advanced may not be the most practical.”

"Appreciate further details."

"From the perspective of input-output, semiconductors with mature process technology are the most widely used products in the entire industry. They have low costs and high cost-performance ratios. You can exchange 100% of your expenditure for 230% of your revenue. In addition, the advantage of more mature processes is that the output is guaranteed, the yield rate is high, and the shipment volume is stable."

This is true. Except for some high-tech products, such as expensive mobile phones and computers, most other products do not require advanced process chips. Moreover, there is a big gap between the current advanced process and the 2nm level in Alia's memory. The division between advanced and mature is only made in theory.

In other words, according to the current market, 40nm is probably the watershed. With this calculation, the level of Dongjiao Research Institute is in the middle and high end.

Ailia agreed with Mr. Meng's statement in her heart, but on the surface she tried to remain calm and looked noncommittal.

She continued to flip through the pages and had to admit that this thing was definitely made by a science and engineering guy. The layout and illustrations were so simple, and it was filled with densely packed words.

If we count the middle and lower reaches according to the industrial chain, the upstream is actually not the one that is not involved in design, but the one that provides materials.

Especially silicon wafers and packaging. Without these raw materials, the middle and downstream will have no place to get warm food.

After the silicon wafer comes manufacturing, which is the photolithography machines and etching machines that we have heard so much about, they are very expensive, very cool, and very high-end.

Dongjiao Research Institute currently knows that it does not have the ability to get involved in semiconductor materials and semiconductor manufacturing, so it is engaged in midstream IC design and integrated circuit design.

Alia raised her head and asked, "Do you have the ability to manufacture, package and test ICs?"

Unlike the materials and manufacturing of semiconductors, the manufacturing technology threshold of ICs is low.

But this low point is also relatively low. For this kind of work, it is already at the level of TSMC.

Just as Yu Dapao was about to speak, Mr. Meng shook his head and said, "No, our current tape-outs are all outsourced to others."

"...Yeah." Alia nodded: "I understand."

In other words, the only thing that Dongjiao Research Institute can show off is IC design - designing circuit diagrams according to customer needs!

The technical content of IC design is not low, such as Qualcomm, MediaTek, and NVIDIA, which are chip manufacturers well-known to users.

IC manufacturing is done by TSMC, and IC packaging and testing is the assembly link that everyone is most familiar with. They take goods to make products, and use the chips provided by Huang to make graphics cards.

This is even more meaningless for the research institute - no orders, no shipments, nothing, what can be done?

Alia finally understood why 30 billion was needed. The East Suburb Research Institute was currently not doing well in anything and was never satisfied with anything. A conservative estimate was that it would have to be a money-eating beast for the next few years, relying not on commercial orders but on direct investment to maintain technological iteration and catch up.

After catching up, they became a big hit, won large orders from the market, and entered a virtuous circle, becoming newer and stronger, and stronger and newer.

If you can’t catch up, then die - the Ai Group’s investment has sunk into the water, and everyone is sinking together.

As for the rest of the talent, experience, team, technology… what are those things? Does anyone care?

Alia has turned to page 15. She read more and more carefully, and found that it involves the development plan of Dongjiao Research Institute.

There are three models in the current semiconductor industry, each corresponding to a different development path.

The first one is the most advanced IDM model, which is translated as vertically integrated manufacturing model.

They know everything and can do everything by themselves without asking for help from others - the three core links of chip design, manufacturing, packaging and testing are all self-sufficient.

The most typical representatives are Samsung and Intel, one has everything, while the other has been squeezing toothpaste for thousands of years.

The only thing that can make them suffer is not being strangled by anyone. The only way is to surpass others in technology. Otherwise, they are as stable as a rock.

Alia likes this mode the most. You see, Samsung suffered a loss because of its poor 4nm process and was kicked by TSMC.

The same goes for Intel, the toothpaste factory. It lost part of the market to AMD, but as soon as it gave up polishing 14nm++++, it immediately took back part of it. The market recognition and its own technical strength are able to support it to continue fighting. With foundation, you really have confidence.

But it is obvious that even if the East Suburb Memory Institute explodes, it cannot be so powerful, at least not now.

Then the only option is the second model, to be a design company with fabless manufacturing.

This model focuses on chip design business and is only responsible for chip circuit design and sales, while outsourcing manufacturing and packaging and testing.

The representative companies are Qualcomm and Nvidia, two broken things, one of them has no ambition to make progress, and the other is only equipped with FKU.

Advanced Micro Devices (AMD), which Alia's father wants to acquire, also belongs to this category, but AMD is a small outlier, so we will not discuss it for now.

There is no need to look at the last type of wafer foundry. It is useless to look at it. It is just dreaming - TSMC!

Of course, that is a wafer foundry with advanced processes, but as for mature processes, there are many others.

But that is meaningless, and we will still be strangled. After all, the upstream still controls the mid- and downstream. IC manufacturers have bargaining power, but they do not have the confidence to overturn the table.

After all, silicon wafers and photomasks directly account for 50% of the cost of semiconductor production. What can you use to negotiate with them? Love and justice?

The next few pages are just some fantasies.

For example, taking the photoresist technology route, we first develop a UV wide spectrum of 300-450nm!

然后上G线436nm到i线365nm！再KrF248nm杀到ArF193nm——最后一蹦跶，EUV13.5nm！

Oh, that's a nice thought. EUV 13.5nm photoresist is used to make chips with a process below 7nm, and we haven't even mastered 40nm yet...

Raw materials rely on imports, manufacturing tools such as lithography machines are stuck, manufacturing raw materials such as photoresists are stuck, and patented technologies are also stuck.

My neck is tired, and I want to ask if there is anyone who can let me go, or at least give me a break.

But the answer is no - either go crazy and live, or lie down and die.

Alia turned to the last page, but didn't read it. Instead, she looked up at Yu Dapao.

"Before, did you use your own money to do this?"

"……Correct."

"Do you know how this thing of yours makes me feel?"

"do not know."

“First, if you want to invest your own money, don’t come.”

Alia raised her finger and said, "Second, if the single page - or the single project on your page - is less than 50 million, don't come."

Mr. Meng clenched his fist and said in a deep voice: "Yes!"

“Third, if you don’t have cash, don’t come.”

"...Miss Ai, what we lack now is cash."

"Fourth, those who have no experience in real industrial investment and are only interested in finance should not come."

Lei Fan saw everyone looking at him, and immediately sat up straight: "Don't look at me, Ai Group has a lot of industrial investments."

Just because I am the CEO of the financial and insurance business department, it doesn’t mean that I am only good at making money, right? I am also optimistic about the real economy!

“Fifth, if you expect the investment cycle to be less than five years, don’t come.”

"Our plan is five to seven years, and if everything goes well, we will have a basic profit base."

In fact, there are some other pitfalls, that is, whether the people being invested in have real abilities and understand real technology.

Investing in this thing is not like investing in Internet concept stocks, hyping up roadshows and listing to raise money in one go...

This is just like advanced mathematics. If you don’t know it, then you really don’t know it. It requires talent!

Yu Dapao looked at Alia's five fingers and sighed, "Miss Alia, even if the deal doesn't work out, we can still be friends."

There are five such large sinkholes, and even an 18-year-old can see them - or Lao Meng wrote it very clearly, so what else can be done?

Alia looked down at the last page. This page contained the most personal information. It did not talk about business or technology, but only about feelings.

Made in China! Made in China! Made in China!

Shout three times that we are domestically produced, ensure self-sufficiency, catch up in five years, surpass in ten years, and lead the world trend in twenty years.

What they can do, we can't? What they can do, we can't? Three billion yuan to save our lives, swim upstream in one breath, overtake on the curve!

Tsk... so childish... Alia flattened the footer of the page contentedly. She would treasure this piece of paper - it was worth one billion!

Just talk about feelings, why talk about money? I hate talking about money the most!

"First, don't come if you want to invest your own money. I don't have any money, but the Ai Group does."

Alia raised her head and folded her hands on the table: "I own 75% of the shares of Ai Group, and Ai Group is valued at 2000 billion."

Yu Dapao was stunned, and then subconsciously sat up straight.

"Second, don't come if the price is less than 50 million per page. I think it makes sense. I think one page is worth 1 billion."

There are many types of projects on each page. If they are fully expanded, it will take hundreds of millions of dollars to produce the finished product.

Let’s not talk about anything else, just the step of taping out samples, which costs millions at a time. With 100 million yuan, how many times can you get out of it after investing that much money?

Mr. Meng also sat up straight, clenched his fists, then subconsciously took them away from the table and put them under the table.

"Third, cash - Mr. Lei, how much cash can the group allocate now?"