Investors said that | Weihao Chuangxin Zhou Siyuan: technology-oriented value exploration to achieve win-win results in industry, entrepreneurship and investment

"Science and Technology Innovation Board Daily" (reporter Xu Jie Zhang Yinhai) news, focusing on the pan-semiconductor field, Shanghai Weihao Chuangxin Investment Management Co., Ltd. (hereinafter referred to as "Weihao Chuangxin") has recently reported frequent successes. Weihao Chuangxin not only joined hands with Yiwu and Ningbo State-owned Assets to establish a 10 billion semiconductor industry fund, but also led the investment in high-quality projects such as Aixin Yuanzhi and Jushi Technology, becoming a "new star" in industrial investment.

Zhou Siyuan, managing partner of Weihao Chuangxin, said in an exclusive interview with the reporter of the Science and Technology Innovation Board Daily that industrial investment can graft the advantages of the industrial side and the invested enterprises, form complementarity and mutual empowerment, and realize the common growth of investment institutions and enterprises. "The company hopes to develop into a large platform for industrial parties to gather, and through the company's data sharing in the industrial platform, it will become a large industrial ecological chain."

Zhou Siyuan believes that the integration of mergers and acquisitions in the later stage is a trend, or the biggest advantage of future industrial investment. Now it is not that the industry valuation bubble is large, but the judgment ability of enterprises is insufficient. Project judgment ability is also one of the important differences between industrial investment and financial investment.

Deep integration with the industry

Weihao Chuangxin is an equity investment institution focusing on the field of pan-semiconductors, which has only been established for one and a half years since its establishment at the end of July 2020, but has grown into a "new star" for industrial investment.

By the end of 2021, the overall agreement scale of Weihao Chuangxin is nearly 30 billion yuan, mainly covering five major areas beyond vision, automotive electronics, low-power wearables, power supply and signal chain, integrated circuit manufacturing and core equipment materials. The company has participated in high-quality projects such as Horizon, Aixin Yuanzhi, Weigan Semiconductor, Jingluo Semiconductor, Zhongke Sihe, Best, Hopmi Industrial Software, and Heguang Technology, and has extensive communication with peer institutions such as SMIC Juyuan, Yuanhe Puhua, Pudong Kechuang, and Daohe Investment.

"We are adhering to the principle of 'technology-oriented, value exploration', and hope to promote the semiconductor industry to gradually go from localization to single-point transcendence, and finally achieve industry leadership!" While promoting the development of the industry, entrepreneurs and investors can enjoy the dividends brought by technology. Zhou Siyuan, managing partner of Weihao Chuangxin, told the "Science and Technology Innovation Board Daily" reporter that industrial investment can graft the advantages of industrial parties and invested enterprises to complement each other, empower each other, and grow together with enterprises.

Zhou Siyuan believes that the deep integration of the company and the industry side can not only help the investment enterprises to develop and grow, but also help the company's investment decisions. "Early-stage enterprises may focus on product and technology research and development, and there are deficiencies in market sales, supply chain, talent and so on. We not only give financial support, but also use the strength of the industry to make up for shortcomings and solve development bottlenecks. Many enterprises also hope that industrial investment institutions can recognize their products, technologies and valuations, and reasonably 'price' for enterprises. ”

"Research and marketing are at the forefront of the two ends. Communicate with the industry and contact more deeply, in order to see the future development trend of the industry, understand some projects that other institutions cannot understand or dare not touch. Zhou Siyuan told the "Science and Technology Innovation Board Daily" reporter that the project judgment ability is also one of the important differences between industrial investment and financial investment. Weihao Chuangxin not only has a management team with rich experience in the hard technology industry and investment experience, but also employs industry experts, lawyers, finance, research and investment banking veterans as expert consultants to participate in the company's investment decisions.

It is reported that the investment team of Weihao Chuangxin covers professionals such as finance, marketing and sales, technology research and development, supply chain management, investment and financing operations, etc., and has served in well-known enterprises such as Huawei, Shanghai Bell, Marvell, CITIC Securities, and Lenovo Mobile. Experts who participated in the company's investment final meeting included Chen Datong, co-founder of Howey Technology and Spreadtrum Communications, Qin Lei, global vice president of Tower Semiconductor, Ji Gang, CTO of Weier Shares, Zheng Zhenxiang, chief analyst of Guosheng Securities Electronics, and Xu Wanhui, senior partner of AllBright Law Offices. Experts not only review and control the projects to be invested from multiple dimensions, but also give professional suggestions and opinions on the industry and projects.

Expand the industrial ecological chain

It is worth noting that since its establishment, Weihao Chuangxin has not only received investment and support from Weier shares, but also worked closely with local governments to promote the company to stand on the "core height". As of the end of 2021, the company has established a number of semiconductor industry funds with local governments such as Yiwu, Tianjin and Ningbo, and has issued many products such as Yiwu Weihao Chuangxin, Tianjin Weihao Taihe, Ningbo Yongxin Weihao and so on.

"The development of the semiconductor industry is still inseparable from the three parties of enterprises, capital and government, and capital is a link in the middle." If the introduced projects are not related to each other, a single project develops on its own, the survival rate is relatively low, and the construction of an industrial ecology is very conducive to the accelerated growth of enterprises. Zhou Siyuan admitted to the "Science and Technology Innovation Board Daily" reporter that Weihao Chuangxin hopes to develop into a large platform for industrial parties to gather, and through the company's data sharing in the industrial platform, it will become a large industrial ecological chain.

Zhou Siyuan said that Weihao Chuangxin has made a vertical and horizontal layout in the five major investment areas, and each node from materials, equipment, wafer manufacturing, packaging, testing, design to terminal products will cultivate corresponding companies. After the corresponding company determines the main investor, Weihao Chuangxin will make some layouts around its main investor and its own situation.

In addition, Zhou Siyuan believes that the merger and acquisition integration in the later stage is a trend, or the biggest advantage of future industrial investment. "Due to various reasons, it may be increasingly difficult for domestic companies to acquire high-quality assets overseas, and the global situation has changed a lot." However, the integration of resources and mergers and acquisitions between domestic enterprises may also become an effective path for the rapid development and growth of small enterprises, just like Silicon Valley in the past. We make full use of our own industrial resource advantages to make some layouts for the main track enterprises we invest in. ”

For the development prospects of the semiconductor industry, Zhou Siyuan told the "Science and Technology Innovation Board Daily" reporter bluntly: "The society of science and technology is the semiconductor society, semiconductors are like reinforced concrete in the previous construction era, and many human-machine products in the future need semiconductors and basic components, and there is a lot of room for development." The market's continuous pursuit of the semiconductor industry is conducive to the development and growth of the industry, not only to accelerate the promotion of national strategic goals, but also conducive to entrepreneurs and investors to achieve a win-win situation. Now it is not that the industry valuation bubble is large, but the judgment ability of enterprises is insufficient. ”