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ownership structure is the bane of the four major shareholders Strange Bedfellows
Southern reporter intern Yuanmeng Ting Gao Lingyun
closely watched SMIC personnel earthquakes have new developments. Reporters from informed insiders SMIC, SMIC President and CEO Dr. Wang has submitted his resignation to the Board, if nothing else, the boards decision to resign by Dr. Wang.
boat on the river because the former chairmans death, had been in existence but did not intensify the conflict between the executive team finally completely broke. Dr. Wang presented the resignation of initiatives reported that SMICs infighting has reached the point can not be reconciled, more large-scale personnel earthquake is inevitable. This also allows SMIC profit this just tasted the sweetness of Chinas largest semiconductor maker, once again into a corner being.
Analysts pointed out that SMIC is the largest flawed, ownership structure is irrational, the previous majority shareholder equity too close, they hit all of the calculations, it is easy to form constraints. Plus the legacy of the complex problem of gang system, civil strife inevitable. Once SMIC do well to develop the technical backbone of birds scattered, its also worrying the future.
"Wang Yang dispute" or see the outcome
everyone has the cupboard, SMIC this cupboard is the contradiction between the management. In fact, the SMIC, the contradiction between the management team already exists, Taiwan University,low dunks, Department of turtles, the local department three "factions" infighting between an open secret in the industry. As chairman of river boat had strongly balanced, this contradiction is not intensified. The end of June on the river boat died, SMIC management conflicts immediately erupted like a volcano.
It is reported that the management team in the SMIC, is divided into two factions forces with one of Dr. Wang is president and CEO, represented by Taiwan-based power,mexico 66, and school is to COO (chief operating officer) Yang Shining represented by turtles system. With the boat on the rivers death, the conflicts between the two factions, both men continue to disadvantage the other party outside the release of information.
in the June 29 shareholders meeting, due to opposition from major shareholder of Datang Telecom, SMIC CEO Dr. Wang accidentally losing the post of executive director, was removed from the board. Printing of rumors, after the defeat, Dr. Wang proposed the resignation, Dr. Wang,griffey max 2, but the rumor was quickly denied. However, Dr. Wangs defeat, Dr. Wangs major shareholders give up attitude is very clear. July 2, SMIC board meeting, by a photo courtesy to become executive director of the resolution, but the chairman of the board remain vacant. Photo courtesy of the students on the river boat, a former vice minister of the former Ministry of Electronics Industry, also served as chairman of Hua Hong Group, both political experience but also from business experience.
as sea turtles and Datang Telecom Department representatives, Yang Shining although not able to do as executive director, but Dr. Wangs unexpected defeat, the struggle has made the balance tilted to the benefit of Yang Shining party. Dr. Wang submitted his resignation to the Board the day before yesterday,dunk sneakers,custom dunks recent years, marking the Dr. Wang has been losing ground in the SMIC. In Dr. Wang submitted his resignation two days before, the kings followers, one of the SMIC CMO (Chief Marketing Officer) has submitted his resignation quarter grams of non-.
reported, SMIC will also hold the board of directors this week, the chairman of the board of elections to vote. As the photo courtesy of the cast by another major shareholder in the recommendation, and has achieved the majority shareholder approval, therefore, photo courtesy became chairman of the board should be no variables.
from the current situation, Dr. Wangs resignation was confirmed when, SMIC will form "with Zhang Yang" Yang Shining will replace Dr. Wang as SMICs CEO.
shareholders battle for control between the
SMIC severe personnel turbulence behind the major shareholders of the battle for control.
SMIC is the largest shareholder of Datang Telecom, accounted for 19.14% of the shares; in investment holding SMIC 11.6 percent stake, is the second largest shareholder; Shanghai Industrial and TSMC total shares were 8.2 percent and 6.543 percent. For SMIC,nike free 7.0, the Datang Telecom, Shanghai Industrial Investment and three major shareholders, are powerful state-owned companies, while TSMC is the industrys first big brother. Several major shareholders equity not a very big difference,nike heels, this ownership structure, SMIC foreshadowed the current turmoil.
Southwest University of Finance and Department of Business Administration Professor Li-Cheng Chang said SMIC into its current predicament, where the ownership structure is the root cause unreasonable.
for Datang Telecom, the telecommunications equipment in the field, has been unable to look Huawei, ZTE, the item back, so need to find a new main. SMIC rapid development in chip manufacturing, the current annual turnover of $ 1.5 billion, and the huge growth potential. Therefore, if we can control the SMIC, will undoubtedly increase their own voice. "On the one hand help to find a new home industry, the other in the future integration of the central enterprises to increase their weight." In addition, Datang Telecoms own chip production will have a greater demand with SMIC can expand their chain layout. Therefore, Datang Telecom SMIC for control is very strong.
However, SMIC is currently the main customers abroad, overseas customers, but also because of various factors,griffey sneakers, not willing to have a central rate with the corporate business background. Therefore, the SMIC has been controlled by Datang Telecom do not want to. Jiang Shang Zhou had also repeatedly stressed that SMIC should adhere to two "I" development path, that is, Independent (independent), International (international), do not want to be transformed into a strong sense of state-owned enterprises. Therefore, the introduction of river boat had cast the strong financial investors, it is very likely to check Datang Telecom, in order to avoid a dominant.
with Datang Telecom and the cast of checks and balances,nike air griffey max 1, coupled with rival TSMC itself, between these major shareholders are easy to form constraints. SMIC executives of the current strife, but is a manifestation of the will of major shareholders.
Earlier rumors, in order to balance the interests of all parties, the authorities may be asked to founder Richard Chang, SMIC SMIC to get back in charge. But Chang has denied this claim, saying their historical mission in the semiconductor industry has been completed,griffey shoes 2011, she is more optimistic about the LED industry and business in the field. A source close to Chang, told reporters, on his own and founded by Richard Chang SMIC is very emotional, the reason that do not want to go back, but also because given the current shareholding structure of SMIC, do not want to run to this Tanghun Shui.
more then the beginning of debilitating chronic illness
front of the personnel turmoil intensified, the SMIC is undoubtedly injury can not afford.
semiconductor industry is capital and technology intensive industries, SMIC since its inception in 2000, despite rapid development, has become the worlds fourth largest chip maker (among TSMC, GlobalFounderies, after UMC) The annual turnover has reached $ 1.5 billion. However,nike heels, due to have been in the investment period,air griffey max 1, with patent lawsuits continue to make losses year after year SMIC. In recent years, for example, in 2007, SMIC loss of $ 19.5 million; 2008, SMIC loss of $ 440 million; 2009 SMIC in losses of more than $ 800 million.
However, the global semiconductor industry recovery in 2010, the foundry industry continues to heat up, the shortage of capacity across the industry, as long as there is production capacity will be able to make money. This is also the reality to face the loss of long-term SMIC a break. SMIC in the first five consecutive years of losses after a profit. Reported in 2010,new ken griffey shoes, SMIC sales of $ 1,554,800,000, an increase of 45.3%, net profit of $ 14 million for the first time full-year profit.
boat on the river had also developed an ambitious five-year development plan: invest $ 12 billion the next five years to achieve annual sales target of $ 5 billion, the domestic fabless (fabless IC design company) 50% market share, continue to expand production capacity and catch up with 12 inches of advanced process technology such as 45nm and 32nm technologies. For this purpose,asics, diluted equity at SMIC, the introduction of the cast such investors to supplement the blood.
However, the ambitious expansion program has just started, just a better company performance, the river boat on the "Dead Before the Ship Even Sank", and set off serious internal strife, resulting in frequency management for a large number of key employees leaving, and thus SMIC pose significant competitive harm. According to one insider said SMIC, just this year,dunk sb, leaving the technical backbone of SMIC, is close to one hundred. "Wang was gone, we will definitely take away a large number of technicians and these are hard to cultivate these years SMIC talent. Semiconductor industry is difficult to cultivate a core technical staff,air griffey max 2, who went out to find new jobs easily . "
SMIC sharp as personnel turbulence, has led many customers to start watching or even lost. In 2010, SMIC one of the core customers who will SMIC --- Broadcom as the worlds first four OEM partners earlier this year, dropped to fourth shift the SMIC, the technology promises a reason cause further delay. Another large customer Texas Instruments has also revealed high-level Chinese area, is closely watching the performance of SMIC.
leaving SMIC headache, due to better than expected economic recovery efforts in Europe and America, the global semiconductor industry has come down trend. Citigroup report released in June on the issue of early warning analysis: macro-economic downturn and by the PC, mobile phone sales poor, the global chip industry is struggling.