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Datang TD White SMIC accelerated layout

In Electronic Infomation Category: R | on November   1, 2010

Experience after nearly 1 year of speculation, the protagonist of Strategic Foreign Investment SMIC has finally surfaced. November 11, SMICs announcement that it has agreed with Datang Telecom Technology & Industry Holdings Company Limited (Datang) entered into a share purchase agreement. Under the agreement, Datang will be 172 million U.S. dollars (about 1.173 billion yuan) acquired 16.6% stake in SMIC. Affected, SMIC Nov. 11 jumped 50% after resumption of trading.

Datang 0.36 per share price of HK SMIC acquired a total of 3,699,000,000 shares of newly issued shares and MC34018DW datasheet and its stake to 16.6% of the enlarged share capital as SMICs largest single shareholder. Previously, SMIC is the largest shareholder is Shanghai Industrial and MC34018DW price and its stake to 10%. Datang 0.36 per share purchase price of HK before the suspension than the SMIC 0.167 Hong Kong dollars per share closing price of a premium of approximately 116%, but considering the last 3 months of SMICs stock has dropped sharply, if the last 3 months average closing price as the standard, Datang price premium of only about 12%.

The completion of the transaction, Datang will be entitled to SMIC 9 board seats in the 2 directors appointed representatives. Meanwhile, Datang SMIC also have the right to nominate a responsible TD-SCDMA, vice president. SMIC to catch a TD


11 11 January analyst meeting, SMIC CEO Richard Chang made it clear that this alliance will bring valuable SMIC partner Datang TD-SCDMA industry chain with other enterprises a lot of cooperation, Datang will be actively invited to partner with SMIC products.

Richard Chang said: "The impact will be significant, in the second half of 2009 we will see a very positive impact." Nomura Securities also believes that this alliance will bring some of SMICs customers, including Datang TD-SCDMA Industry Alliance in the part of the partner.

Data from SMIC, although the TD-SCDMA 3G market in the whole of the market share of only 0.6%, but is expected to reach 2.7% in 2012; in China, TD-SCDMA is expected to in 2015 2018, will occupy 15% market share. Richard Chang said: "We know that the TD-SCDMAs market share is also small, this is our partnership with Datang and MC34018DW suppliers and other reasons to cooperate, we can work together to develop this goal, first in China, followed by the world. "Acting Chief Financial Officer of SMIC

Morning Wu also told the media that, through cooperation with Datang, SMIC will be able to help Datang in TD-SCDMA field advantage, and grasp phase transition from 2G to 3G caused by tremendous business opportunities. Department for the Yinru Datang

capital, TD-SCDMA SMICs strategic intent seems to be greater than the Capital Introduction intent, the industry that, except TD-SCDMA outside prospects for cooperation, the foreign capital will also SMIC has brought positive changes in two aspects: first, state-owned assets owned Datang background will dilute the real sense of SMIC overseas company colors, enhance its state-owned semiconductor foundry giant color; second, Datang Holdings The capital will ease the financial pressure faced by SMIC.

According to the analysis of Goldman Sachs Gao Hua, from 2008 to 2010, SMIC per year pay about 341 million in debt as of the third quarter of 2008, SMIC has only 447 million in cash. Alleged that long ago, SMIC has just repaid a part of the bank debt, capital inflows can effectively alleviate the cash flow SMIC tension. SMIC stakeholders

summary of the introduction of Datang SMIC first solve the financial problems, followed by the SMIC has brought the long-term interests of local development opportunities, the future will be to the SMIC Datang to send personnel, which will improve TD-SCDMA SMICs development capacity. Department of the future can be expected


Datang is also optimistic about the cooperation of both parties expected the two sides in one of the most promising field of wireless communication resources complement each other.

Vice president of Datang Shan branch, said: "We greatly value the opportunity to SMIC into the capital, through both work side by side, I am confident that this powerful alliance will greatly promote Chinas semiconductor industry and the rapid development of mobile communication industry, and the use of TD-SCDMA in Chinas rapidly growing business opportunities to enhance the international competitiveness of both companies. "Chang Kuo

IDG Consulting believes that an alliance with SMIC Datang TD-SCDMA commercial conducive to the further advancement of semiconductor manufacturing advantages SMIC for TD-SCDMA equipment, terminal manufacturers, chip, help Datang Controlling access to more products in the upper reaches of the voice.

Pay for light industry observers also believe that Datang and Semiconductor Manufacturing International cooperation will help the two sides in the integration of R & D resources on the basis of improving the commercialization of TD-SCDMA chip progress. "China Mobile on TD-SCDMA industry chain parties have become increasingly demanding, increasing pressure the parties, Datang TD-SCDMA chip research and development as a business, technology commercialization, especially in technology has a lot of work to do it. "However, pay light that the Datang and SMIC, and subsequent integration of technology and people still need some time to see the practical results.

Datangs TD-SCDMA increasingly clear layout. Equipment in the system, Datang has taken many measures of cooperation, does not rule out further integrated with other related businesses the possibility of TD-SCDMA assets; in the terminal, Datang Mobile has a protocol stack and the core solution, Datang Microelectronics and the associated core technology can provide the core chip, after the acquisition of Shanghai You think cell phone communication can be designed, Tianjin Industrial Park project can be mobile phone manufacturers. An industry analysis, a chip foundry SMIC giant after a major shareholder, Tang, Department of related resources can be achieved if the optimum allocation of its TD-SCDMA industry chain leader will be further strengthened, while the TD -SCDMA business will benefit from the process.

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