In two years, more than 50 billion will be gone! "Cheating" the Hong Xin in Wuhan continues.

Edit | light summer

Source | New 1 100 million business reference

(ID:xsy-shangyecankao)

Three years ago, Wuhan Hong Xin was founded, threatening to invest 654.38+028 billion yuan in research and development of chips, in order to compete with TSMC and set off a vigorous "core-making" movement;

Three years later, it burned 654.38+053 billion yuan, and the Wuhan Hong Xin project was stagnant and almost unfinished. After subcontractors and workers are in arrears, there is no way to complain.

The experience of its behind-the-scenes major shareholder has nothing to do with semiconductors. In fact, it has instigated hundreds of billions of semiconductor projects and won the advance of Wuhan government.

The domestic chip industry seems to have entered the stage of Great Leap Forward, and the "Hong Xin" incident is not a case. Chengdu Singh, Nanjing Dekema, Guizhou Huaxintong, Shanxi Kuntong Semiconductor ... Many semiconductor projects were silent after burning huge sums of money.

Semiconductor is an industry with long return period and huge capital demand, and it can only make steady progress. After "Hong Xin", China's "Hong Xin" cause was lost again.

0 1

Hong Xin, a 100-billion-dollar project, stopped.

On the cusp of the Sino-US game, chip localization has become a top priority. Under the chip vent, domestic chip speculators are eager to move and take the opportunity to wield a knife.

Recently, Wuhan Hong Xin, a key project in Wuhan with an investment of 654.38+028 billion yuan, was exposed, which aroused great concern in society.

20 17, 165438, Wuhan 10, born in Hong Xin. According to reports, the project has gathered experts in the field of semiconductor wafer R&D and manufacturing around the world, and has advanced experience in logic technology and wafer-level advanced packaging technology. In the future, it is estimated to build two logical process production lines, namely 14 nm and 7 nm, with a monthly output of 30,000 pieces and at least 1000 employees.

You know, only TSMC and Samsung can realize the mass production of 7-nanometer chips now, and Hong Xin of Wuhan University directly positioned himself as the third in the world as soon as he started.

In addition, Hong Xin also invited Jiang Shangyi, the right-hand man of Zhang Zhongmou, the founder of TSMC, as the CEO.

During his tenure at TSMC for many years, Jiang Shangyi expanded the R&D team from 400 to 7,600, creating a world-class R&D team and leading TSMC from a technology follower to a technology leader. He is a veritable "industry bull".

It is precisely because Jiang Shangyi is here that many TSMC talents turn to the mainland. Since last year, Chinese mainland has poached more than 65,438,000 experienced engineers and managers from TSMC, and half of them have gone to Wuhan.

Some domestic media have quoted the Nikkei Asian Review as saying that the salary offered by Hong Xin is beyond imagination, which is 2~2.5 times of TSMC's total salary and remuneration.

This once made TSMC very nervous.

With Jiang Shangyi's blessing, Hong Xin bought an EUV (extreme ultraviolet) mask aligner worth 600 million yuan. This kind of mask aligner can only be produced in ASML, the Netherlands, and TSMC and Samsung's mask aligner are also from ASML.

EUV mask aligner is rare and expensive. It is reported that China only bought two sets, and Wuhan Hong Xin successfully won 1 set, becoming a star project in the chip industry.

At the factory entrance ceremony of mask aligner, ASML at the end of 20 19, the background board read "Hong Xin serves the country, Chinese dream".

20 18, 20 19 Wuhan Hong Xin has been selected as one of the key construction projects in Hubei province, with infinite scenery.

In the "Wuhan Major Projects under Construction in 2020" issued by Wuhan Development and Reform Commission in April 2020, Wuhan Hong Xin Semiconductor Project still ranks first with a total investment of 654.38+0.28 billion yuan. By the end of 2065.438+09, the investment has reached 654.38+05.3 billion yuan, and it is planned to invest 8.7 billion yuan in 2020.

But after waiting for two years in anticipation, there came the thunder of Hong Xin.

In June this year, the media reported that Jiang Shangyi had given up his intention. His external response is that "the company has some problems to solve".

Then, on July 30th, an unexpected news from the website of Wuhan District Government pushed Wuhan Hong Xin to the forefront. According to the investment and construction report of this website, the Hong Xin project in Wuhan "has a large funding gap, and it faces the risk of capital chain breakage and project stagnation at any time".

The report also pointed out that the second phase of land adjustment and transfer in Hong Xin has not been completed, and the project lacks land and other information, so it cannot be reported to the window of the National Development and Reform Commission for guidance, resulting in the inability to import other equity funds.

Money is tight and arrears scandals are rampant.

Wuhan Hong Xin owes several hundred million yuan to the general contractor Wuhan Torch Construction Group Co., Ltd. and 4 1 10,000 yuan to the subcontractor Wuhan Yuhuan Municipal Engineering Company.

After both parties appealed to the court, the account of Hong Xin Company was frozen, and the second phase of land use right with a value of 75.3 million yuan was sealed up by the court for three years. The lawsuit is still in progress.

In view of this matter, Wuhan Hong Xin publicly stated on June 5438+065438+ 10 last year that the company paid the project payment in full to the general contractor Torch Group on schedule, and the dispute between Torch Group and Wuhan Yuhuan was an internal settlement dispute.

At this point, the subcontractor's project payment and workers' wages were in arrears, and the money had not been settled. Wuhan Hong Xin almost stopped work, and hundreds of billions of projects went up in smoke.

In fact, before the Thunder, there were signs in Hong Xin, which were directly reflected in employee recruitment and income.

Since last year, many prospective employees in online Baidu Post Bar and Zhihu said that after receiving the offer, the company did not inform them to join the company, and the contribution ratio of the existing employees' provident fund also dropped from 12% to 8%.

In addition, a reporter found that Wuhan Hong Xin "faked" and bought DUV (deep ultraviolet) mask aligner instead of mask aligner EUV.

Now this mask aligner has been mortgaged to the bank for 580 million yuan under the condition of "brand new and unused".

The existing employees in Hong Xin can only sit in the office and write PPT every day because they can't put into production.

02

The mysterious beauty behind Hong Xin.

Looking back at the birth of Wuhan Hong Xin three years ago, it threatened to overtake in the international chip market, and with the start of 7nm technology, it was comparable to TSMC in one fell swoop. Hong Xin's ambition in front of him was not satisfied, and he died first.

The people behind Hong Xin's scenes have always existed like shadows. According to the survey, the registered capital of Wuhan Hong Xin is 2 billion yuan, and the paid-in capital is 200 million yuan at present.

All the 200 million yuan comes from Wuhan Kong Lin Airport, one of the shareholders holding 65,438+00% shares. The money of Wuhan Kong Lin Airport belongs to the State-owned Assets Supervision and Administration Bureau of Wuhan Dongxihu District, that is, state-owned capital.

Beijing Liangguang Lantu Technology Co., Ltd., which holds 90% of the shares, needs to contribute 654.38+0.8 billion yuan, and the paid-in capital is 0.

2 billion registered capital is nothing, empty gloves and white wolves. In this case, once the government funds are burned out, the capital chain will collapse immediately.

Beijing light blueprint is very mysterious. The company was established on 20 17 1 1.2, half a month earlier than Hong Xin. At the beginning of the company, Long Wei and Cao Shan served as the chairman and director respectively. 20 19, 1 withdrew from the list of directors of Wuhan Hong Xin, and then Xueyan Li became the chairman and Mosen became the director.

It is understood that Cao Shan himself is engaged in the semiconductor industry, serving as the legal person and executive director of six semiconductor companies, and has laid out the semiconductor industry for more than two years. The blueprint of visible light has the ability to engage in semiconductors from the beginning.

However, after Cao Shan withdrew, Liang Guanglantu became a veritable shell company. Xueyan Li initially invested in eco-technology, bought soju, organized catering and built gardens. His work background has nothing to do with semiconductors. Half a month before he founded Wuhan Hong Xin, he founded the Bright Blueprint. So far, this project has not invested any money and has been burning the government's money.

Mohsen, on the other hand, did not find any background related to semiconductors.

It's incredible that two people who have never been exposed to semiconductors have actually done 1000 billion semiconductor projects.

Clear the fog and combine the previous layers, that is, Xueyan Li and others set up a lightweight blueprint for shell companies, and then obtained the key project of Chengdu Municipal Government, Wuhan Hong Xin, through the shell companies, and Hong Xin transferred the debts and risks to banks, subcontractors and suppliers for loans through the general contractor "Wuhan Torch Construction".

In this way, they get a lot of income without investment.

In July and June last year, 1 1, the light quantity blueprint was included in the list of enterprises with abnormal operations because it could not get in touch with the registered business premises in time.

Looking at Wuhan Hong Xin again, even if the ownership structure of the company is clear, there are many doubts after careful study. Among the two key people who left the company, Cao Shan's work background has been introduced, and Long Weishi is the general manager and legal person of Qing 'an Trade.

Qing 'an Trading invested in Chengdu Haiwei Huaxin Technology Co., Ltd. and began to lay out the chip industry very early. Wuhan Hong Xin is the second investor in its chip project.

Before Rowen, the investor of the company was Liu. The military background is common in the news about this person. The name of Qing 'an Trade is highly related to the military enterprise Qing 'an Group, which shows that Qing 'an Trade is not simple.

Some media also described it as "rumor that the major shareholder behind Hong Xin has a source of funds or military background". Wuhan Hong Xin didn't respond, which is even more mysterious.

The "rotten tail" news disclosure, which was highly anticipated by the national enterprises, instantly became a scam, and the government, contractors, suppliers, engineers and employees suffered heavy losses. Awkward.

03

"Great Leap Forward" of Domestic Semiconductors

The number of chip design enterprises in China ranks first in the world, and the actual design level also ranks second in the world. But manufacturing is a short board, and many materials are imported.

From 2065438 to 2009, the import volume of chips in China reached US$ 304 billion, far exceeding the second-ranked crude oil import.

After the Huawei and ZTE incidents, China will increase its investment in the field of chips in the future. In addition to the relevant tax exemption policies, it will also take the lead in establishing laboratories, and many large funds are rushing.

The Chinese Academy of Sciences said that the list of "stuck necks" in the United States has become a scientific research task and will be comprehensively laid out. In this context, if China chips can rise, it can be described as "Nirvana Rebirth".

However, the influx of capitalists led to a large number of enterprises painting cakes all over the country to make money, and local governments ignored the real situation of the project, and false projects became popular, followed by mine explosions.

The reporter interviewed Zhang Hao (anonymous), an industry observer, who said that "an industry with great opportunities in the future will definitely attract many people to invest and develop".

In the past two years, a similar explosion occurred in Wuhan Hong Xin Coal Mine:

According to Outlook, in just over a year, six tens of billions of semiconductor projects in Jiangsu, Sichuan, Hubei, Guizhou and Shaanxi provinces have been shut down one after another. Wuhan Hong Xin, which "cheated" the country, continues. ...

Zhang Hao said, "In fact, there have been many similar failure cases many years ago. It is only the recent frequent exposure that makes me feel a lot."

In view of these semiconductor projects that are regarded as "scams", "some projects are too ambitious at first, but they find it too difficult to make chips in the middle, and their own research and development capabilities are insufficient, so they can't do it in the end." Turns out to be a scam.

Semiconductor and its cost and long payback period need a generation to settle down and do research for 20 or 30 years. SMIC, the first chip foundry in China, struggled for 20 years to achieve the process output of 14nm. It is difficult for a new generation of enterprises to challenge the 7nm process. The research and development of carbon-based chips in the past 20 years by the Chinese Academy of Sciences was not accomplished overnight.

On the other hand, domestic investment mostly pursues short-term returns, and some projects make big money by this.

In another case, "the project party was completely unprepared and wanted to use government resources to integrate and obtain financing development opportunities, but in the end it was found that it could not be done." Another possibility is, "Maybe it was a scam from the beginning."

According to the data, in 20 19, the semiconductor produced in China only accounted for 16% of the semiconductor needed in China, which shows that it is far from reaching the goal of self-sufficiency in the semiconductor industry and leading the world.

In the chip industry, which often calculates the return cycle in ten years, it is far from enough to rely solely on the preferential land policy of the government. Before the enterprise makes a profit, "surviving" is the strategic focus.