National Funds’ first disclosure of the reduction plan involves 3 chip companies
Source: Daily Economic News On the evening of December 20, Zhaoyi Innovation, Huiding Technology, and National Microelectronics issued separate announcements, stating that the National Integrated Circuit Industry Investment Fund Co., Ltd. (hereinafter referred to as the National Fund) plans to start from the date of the announcementWithin three months after 15 trading days, the centralized bidding transaction method was adopted to reduce the holdings of the three companies’ shares not exceeding 1%.
The reporter of “Daily Economic News” learned that Zhaoyi Innovation, Huiding Technology and Guoke Micro are the chip companies invested in the first phase of the National Fund.
This reduction is the first time that a national fund has disclosed a reduction plan in the A-share market, which has aroused heated discussions in the market.
The reporters of the Daily Economic News, which have increased significantly since the early days of the three companies, noted that before this reduction, the National Fund held Guoke Micro 2812.
550,000 shares, accounting for 15 of the total share capital of Guoke Micro.
63%; holds 30.2 million shares of Huiding Technology, accounting for about 6 of the total share capital of Huiding Technology.
63%; holds Zhaoyi Innovation 3121.
300,000 shares, accounting for about 9 of the total share capital of Zhaoyi Innovation.
Based on the closing price on December 20, Zhaoyi Innovation’s 1% stake is 6.
At 2.7 billion yuan, the 1% stake in Huiding Technology is 9.
At US $ 3.3 billion, 1% of Guokewei’s equity is zero.
7.9 billion, a total of 16.
3.9 billion yuan.
The reporter found that Huiding Technology, Guoke Micro, and Zhaoyi Innovation are the leading companies in the domestic chip segment industry and have performed well in this year’s market. The three companies have increased by 161%, 93% and 214 in the early stage.%.
”Daily Economic News” reporter learned that before December 20, the National Fund has never reduced its holdings.
The first phase of the National Grand Fund was established in 2014 to promote the development of the integrated circuit industry. The fund focuses on investing in integrated circuit chip manufacturing, taking into account chip design, packaging and testing, equipment and materials, and implementing market-oriented operations and professional management.
The fund’s total investment period is planned to be 15 years, divided into investment periods (2014?
2019), payback period (2019?
2024), extension (2024?
In other words, this year has entered the recovery period of the National Fund.
Hu Chao, the general manager of Shenzhen Bailun Fund, said in an interview with reporters that from the content of the announcement of the reduction, the reduction should be the fund’s normal financial investment decision-making arrangement.
The initial purpose of the first phase of the National Fund was to solve the problems of financing and development of integrated circuit semiconductors and other fields. After weighing the investment objectives and financial returns, the reduction of shares is in line with the operation logic of the fund.
The imminent reduction in holdings may have an impact on integrated circuits and semiconductors in the short term, but in the long run, the National Fund will withdraw after achieving relevant policy goals. Instead, it can be understood that the development of related industries has met national expectations, and investors are stillYou can choose the layout.
Compared with the reduction of ordinary company shareholders or senior management’s holdings, the reduction of state large funds is more due to the realization of investment goals, while the reduction of ordinary shareholders and senior management’s holdings is essentially a realization or financing behavior.
The data of the second phase of the National Fund’s key investment in 5G shows that since its establishment, the first phase of the National Fund has gradually invested in 72 companies or institutions, forming a complete industrial layout, covering IC design, IC manufacturing-foundry, and IC manufacturing.-Storage, special craftsmanship, packaging testing, equipment, materials and ecological construction.
Among the A-share listed companies, statistics show that the first phase of the National Fund invested in Nasda, Guokewei, Beidouxingtong, Neway Technology, Zhaoyi Innovation, Huiding Technology, Jingjiawei, Sanan Optoelectronics, ChangElectronic Technology, Tongfu Microelectronics, Tai Chi Industrial and other 18 A-share listed companies.
”The reduction of the National Fund’s holdings must have been a single share and caused some impact, but since it has not been completely reduced, it cannot be said that it will peak.
For the follow-up, it is not necessarily uncertain that the listed companies invested by large funds in other countries have an impact, mainly the estimated interval of individual stocks and the subsequent development of listed companies.
In addition, these three companies belong to companies that have been developing chips in recent years. The chips they developed are not yet high-performance chips. Excessive gains have overdrawn a certain amount of future space. Investors are advised to avoid short-term excessive fluctuations.
“Zhong Haibo, general manager of Guangdong Zhanfu Assets, told reporters.
The reporter learned that at the end of the first phase of the National Fund’s investment, the second phase of the National Fund is also making rapid progress.
The information shows that the second phase of the National Fund has been incorporated on October 22, 2019, with a registered capital of 2041.
500 million yuan.
Regarding the investment direction of the second phase, Lu Jun, the president of China National Fund Manager Huaxin Investment Management Co., Ltd., said at the November media summit that the second phase of the National Fund will make some cooperation based on the current phase of the project.The new layout, 5G is definitely the focus of investment.
At the same time, under the leadership of Lu Jun, the second phase of the National Fund will explicitly reject projects that use abnormal means to compete, and projects that cause unreasonable or duplicated domestic industrial layout.
CITIC Securities believes that from the perspective of 2020, the “domestic substitution” depth will still be the strongest logic in the domestic semiconductor sector, and its core component supply chain is being tried by local companies in high-performance 青岛夜网 computing, storage, simulation, RF chips, EDA tools and other fieldsSupport for radial velocity.
In the long run, the core logic of the domestic semiconductor sector is an independent and controllable 10-year dimension. Follow-up policies and funding support outstanding growth.
Leading companies in the industry can take advantage first, and they are expected to benefit first in the gradual implementation of policies from top to bottom.