Chapter 1293 Bombardment (4k)

It is no secret that Bingxin went public at a loss.

It submitted the application here, and Hong Kong had to disclose the application prospectus of the proposed listed company on the official website according to the process, which would allow everyone to get a glimpse of the full picture of this wafer manufacturing company that has always been low-key and mysterious.

Since its preparation in December 2003 and its official establishment in 2004, Bingxin has gone through 9 years so far and has become the largest semiconductor company in mainland China.

Before 2009, Bingxin hardly appeared in public reports of mainland media, and the occasional news was only related to the activities of the richest man seeking investment.

In 2009, with the return of Zhang Zhongmou, the founder of Taiji, to take charge of the company, whether it was Taiji's industry white paper or his own evaluation of Bingxin, Bingxin's reputation increased sharply.

In 2010-2012, the factor of geopolitics began to have a stronger influence, and the industry and administrative figures of Meilijian all paid more attention to Bingxin, which eventually led to a restriction on Bingxin's purchase of equipment from the Netherlands and its failure to go public in the United States.

However, as Bingxin's public prospectus states, "Bingxin International is one of the world's leading integrated circuit wafer foundry companies, and is also the most technologically advanced, largest, most comprehensive supporting service, and transnational professional wafer foundry company in mainland China."

——"Bingxin International mainly provides customers with integrated circuit wafer foundry and supporting services for multiple technology nodes from 130 nanometers to 32 nanometers and different process platforms."

Global leader! The most advanced technology in mainland China!

And...

——"In terms of advanced process research and development, we are advancing the development of 28-nanometer processes in an orderly manner according to plan. Bingxin International has repeatedly demonstrated its strong research and development capabilities for sustainable development and can continue to provide top technical support for global IC designers. We will strengthen technological innovation with an increasingly positive attitude to meet customers' growing demand for advanced technology and differentiated products."

The application prospectus responded to the outside world's questions about the obstruction of 28nm research and development, and at the same time, there was a statement on the obstruction of purchasing equipment.

——"The extreme ultraviolet light of the global industry is still in the paper work stage, and no related activities have been carried out. The overall production capacity and advanced process research and development of Bingxin International have not been affected. We are confident that we will continue to provide excellent services to global customers."

The strengthening of geopolitical factors, two specific issues that have raised questions from the outside world, and many disclosed process levels and financial figures.

Also, the last question that comes out of the synthesis.

What will be the issue price of Bingxin's listing this time?

The prospectus for the Hong Kong stock application version is different from the formal prospectus. It does not disclose information such as the number of shares issued, the issue price, the new share issuance structure, and the use of funds raised.

Therefore, in this report about "Bingxin's intention to land on the Hong Kong stock market", its valuation has become the focus.

Many people speculate based on the financing information. Although it is difficult to know the real impact of the American copy, it is felt that it should be at least 18 billion US dollars...

On November 8, a report from Penguin Finance appeared in the hot search of Duji, which briefly commented on the situation encountered by the leader of the mainland semiconductor industry.

"After failing to list on Nasdaq, Bingxin turned to the Hong Kong Stock Exchange and published a prospectus, showing many positive factors and also admitting many difficulties."

"Bingxin's revenue this year is expected to reach US$3.16 billion, making it the world's third largest wafer foundry company, with only Taiji and GlobalFoundries ahead of it. This achievement is encouraging."

"However, one reason why Bingxin chose Hong Kong to list this time may be that its financial situation is indeed tight."

"It is reported that Bingxin is negotiating a second expensive factory project overseas. In addition to the established investment, the pressure of R&D of 28nm advanced process, the competitive pressure from Taiji and Samsung and other companies, and the pressure from the company's shareholders... all these have forced Bingxin to force listing at such a not-so-good node."

"Industry sources revealed that Bingxin's market value this time may be around US$17-19 billion, which will be far lower than the US$22 billion it attempted to land on Nasdaq."

"This valuation reduction undoubtedly proves Bingxin's urgency to go public."

"It is worth noting that the R&D of Bingxin's advanced process is not only related to It is not only about its own business operations, but also deeply related to the new product progress of another well-known listed company, Yike. "

"For a long time, whether it is the Qualcomm chip that Yike first adopted or the "Zhurong" series of chips that it launched independently, they are all manufactured by Bingxin. The degree of close relationship between the two companies may be deeper than we think."

"Yike competes fiercely with Samsung and Apple in mobile phone products. Similarly, Bingxin competes fiercely with Samsung and Taiji in semiconductor manufacturing. It is worth mentioning that Taiji has clearly obtained part of Apple's chip orders. "

"The competition in the two fields has a lot of overlap. Once the advanced process supporting Yike's independent chips has problems, it may face a double kill situation. "

"I believe this is also one of the reasons for the recent fluctuations in Yike's stock price. "

"Yike is already an international giant, and Bingxin is already the world's third largest wafer foundry company, but the challenges they face continue. "

In general, this included Penguin Finance report is still objective, that is, it talks more about challenges, more about competitive pressure, and more about the shrinking valuation.

However, when it was reposted to Yixin’s circle of friends and Qi He saw it, he was still quite indignant.

Qi He is the person in charge of the most extensive and diverse business in Yike, and has added many partners, potential partners and even competitors to his address book.

He soon noticed that many Duji executives reposted and commented on the relevant reports.

Qi He chose Duji Senior Vice President Lu Zhendong, who he had talked to a while ago, to comment on one, because this person said "it seems that this stock cannot be bought."

"Doji is going to enter the semiconductor industry?"

Lv Zhendong quickly responded: "You are not from Bingxin, why are you so anxious? Do you still have stock options there?"

Qi He: "Am I anxious? You are so sarcastic. You have a reprint KPI internally, right?"

Lv Zhendong: "You are not anxious? Is Sogou anxious?"

Then, Lu Zhendong added: "Sorry, I missed a word. Is Sogou anxious?"

Qi He: "Well, this is the quality of Doji executives. They are talking about Sogou. What? Sogou puts a lot of pressure on you, right?"

Lv Zhendong: "Sogou is just like that. Doji has always faced challenges head-on. I hope that Mr. Qi can face challenges with a normal mind in the future. Business operations require a normal mind. Otherwise, if you are anxious and encounter competitive pressure, you may suffer a big or small defeat."

Qi He gave a thumbs-up at the end, ending a small conversation before attacking Doji.

He felt that Doji still attached great importance to the pressure brought by Sogou, and also took the competition with Yike in multiple fields very seriously.

Similarly, he also felt that Mr. Fang did not pay enough attention to Duji's transformation in the mobile era.

Where does this lack of attention come from?

Is it "lack of imagination in the mature business model of search" or "Duji's business development and mobile pace are indeed slow"?

But Qi He felt that the awakened Duji still had a huge traffic and ecosystem, and was a worthy opponent... at least worthy of his and YMS's attention.

So... let's see who is the big or small loser.

The next day, November 9, at nine o'clock in the morning, Sina launched a special report on Duji's medical advertisements. Because it rarely involved Yike's senior vice president, it was also reprinted by other media with a title like "Yike executives bombard Duji".

Yike executives bombarded Duji!

Industry celebrities, giant executives, and an ordinary user's confusing journey in the medical field.

As the global senior vice president and president of the YMS business group, Qi He is at least one of the top ten people in Yike. His voice is interesting from his identity.

However, Sina only published a small section on his interview, and used more examples of user comments from Duji's own ecosystem, as well as face-to-face interviews and related compilations.

Real cases, real cases that sound absurd, and real cases that sound absurd but don't make people laugh.

Most importantly, Sina's special report in this issue clearly stated that there was a sequel, and the title was marked with the words "(I)".

Just ten minutes after the Sina special report was released, Sohu took the lead in reposting it.

Just half an hour later, Zhihu had related questions and its hot list rankings climbed.

Half a day later, in addition to reposting on many websites, some paper media's online websites also appeared.

Lv Zhendong, senior vice president of Duji, was a little confused when he received the news. His first reaction to "Yi Ke Qi He bombarded Duji" was - is it really to this extent?

He subconsciously thought that the angry discussion in the circle of friends yesterday was poked out and then spread by traffic.

However, when Lv Zhendong only read half of Sina's special report, he immediately realized that this was a premeditated and organized offensive against his own company!

Let’s not explore whether the report is true or not. Even if it is true, will there be any ambiguity?

So, don’t rush to identify it, and first consider how to suppress the public opinion.

Lv Zhendong called the head of the public relations department and learned that the other party was handling the situation this time, but... it seems that it may be a bit tricky!

The source of the outbreak came from Sina.

As a relatively traditional portal website, Sina’s reporting effectiveness is still the highest on the Internet. Thanks to the revenue brought by many popular games, it has not given up its own news and has always had a good reputation.

In general, Sina used to have nothing to do with Duji, but once it did...

The communication attitude from Sina was very firm: the report was true and the manuscript could not be withdrawn.

The source could not be solved, and the fermentation-assisted website played a role to some extent. Duji’s communication and tough attitude were effective, but there were also similar problems with Sina. Zhihu and Weibo, platforms of Yike system, did not buy it.

Zhihu does not suppress the popularity, and Weibo does not screen keywords. Both platforms are discussing.

After a day, the popularity did not decrease in the evening, but the upward trend was at least controlled and did not spread across all channels at once.

However, one wave of waves has not yet subsided, and Duji received a call.

Some medical content providers who had not signed an exclusive cooperation supplementary agreement before jointly responded to the relevant departments with Sogou, believing that Duji's actions were suspected of monopoly and unfair competition.

There was no criticism on the phone, but Duji was asked to explain the situation.

However, such a series of actions all show that... Yike has expanded the scope of competition!

Lu Zhendong felt a little familiar, as he seemed to have watched the excitement of Penguin in this way before.

Is Yike trying to attack its own reputation on a large scale through multiple channels?

The question is, how effective will this be?

Lv Zhendong didn't fall asleep until the early hours of the morning today. He waited for some internal solutions, such as "investigating the relevant situation of medical advertisements", "improving the review of medical advertisements", and "actively safeguarding the rights and interests of users".

Ask questions and give answers.

Attack is to give feedback.

It's still the same question. Will the back and forth process affect the company's recent competitive actions?

Will the agreement with UC be torn up? Will the agreements with Samsung and Apple be torn up?

Definitely not.

Stay out of the limelight. The popularity on the Internet is always temporary.

Just as Lv Zhendong was about to fall asleep, a piece of latest news made him frown. There were a lot of explosive behaviors in his own post bar. The trigger was that the person in the special report appeared in the post bar and posted, talking about his situation and showing the case to prove that what he said was true.

As a result, his account was blocked after a while.

And, it's not just this one.

The experience of senior executives of large companies seeing a doctor is quite distant, but the experience of ordinary users is around.

Many large forums, including Li Yi, LOL, and World of Warcraft, showed support, with slogans like "If you block one of me, there are thousands of me." They used erotic pictures, animated pictures, proclamations, verbal battles, emoticons, and acrostic poems to attack the forums.

From 1:00 a.m. to 5:00 a.m., the battles over deleting posts, banning people, and fighting for forum management continued.

When Lv Zhendong woke up in the morning, he noticed the spread of the foul atmosphere before going to bed, but after seeing the company take control, he felt that there was no big problem, and soon attracted his attention to Sina's second special report.

This time, Sina deeply analyzed the revenue of medical advertising and exposed the chaos of department contracting in China.

For example, the argument that medical advertising accounts for at least 20% of Duji's annual revenue made Lu Zhendong frown. The other party's assessment was quite accurate... and the department contracting and chaotic treatment cited as examples...

It has to be said that Lu Zhendong admitted that he was also somewhat enlightened. He turned to worry for the first time because of the "absurd treatment" here. Can the internal processing procedures at the company level block this storm?

The performance of the second day seemed to be a replica of yesterday. The only difference was that today's explosion came earlier.

At nine o'clock in the evening, many large forums once again used Duji accounts to launch actions against Duji.

Because of the experience in the early hours of the morning, this action was quickly suppressed.

At ten o'clock in the evening, 37 hours after Sina released the first special report, Duji issued a statement that it would strengthen the qualification review of medical advertisements, improve the entry standards, implement the delivery process, and safeguard the rights and interests of users.

Lu Zhendong breathed a sigh of relief. Although he felt that the company's response should have been made yesterday, it was not too late today.

The most important thing is that the public opinion in two days did not spread to more levels, which is the more critical thing.

Just as Lv Zhendong was about to fall asleep, the screen of the mobile phone on the bedside table suddenly lit up, and a call from the United States made his heart jump.

It was not from Apple China, but from Katie, Apple's global vice president and public relations director, who politely asked Duji to explain the principles and procedures for medical advertising.

Lv Zhendong calmly explained the company's practices and strict procedures, and at the end of the conversation, he tactfully expressed his doubts, saying that the previous cooperation with Apple did not involve this person's team.

"Yes, Mr. Lu, the cooperation between Apple and Duji in search is gratifying, but I think we should also work with our partners to spread the correct company values."

Katie gave a positive response.

Lv Zhendong put down his phone, and suddenly doubted the agreement he had reached with his partners. He tossed and turned and couldn't sleep all night.