TSMC in the past, two important positions, including the father of China’s semiconductor Zhang Rujing, and TSMC’s former co-chief operating officer Jiang Shangyi, have gone to mainland China, was regarded as a traitor, and recently the current situation of the two was exposed.
Comprehensive Sanli News Network and United Daily reported that TSMC had two important positions in the past, successively defected to the Chinese Communist Party, and was regarded as a traitor by the outside world, one of them is known as the “father of China’s semiconductor” Zhang Rujing, he and Zhang Zhongmou in 2000 to form a feud, TSMC merged with Zhang Rujing founded the Shi Da Semiconductor, a furious He took hundreds of TSMC employees with him and went to Shanghai to found SMIC; the other is the former co-chief operating officer of TSMC, Chiang Shang-Yi. After retiring in 2016, he became an independent director of SMIC and took over the position of CEO in 2019, breaking his promise to “never compete with or harm TSMC,” when he retired.
Now, the recent situation of the two has been exposed. SMIC voluntarily filed for delisting from the New York Stock Exchange in 2019. In response to the reasons for delisting, SMIC said that compared to the global trading volume, SMIC’s ADS (American Depositary Shares) trading volume is relatively limited, and maintaining ADS listing on the NYSE would bring huge administrative burden and cost, etc. However, SMIC applied to return to the Chinese stock market (A-share) on June 1, after a 16-year absence, and it took only 19 days from the Time the application was accepted by the exchange to the time it was approved, setting a record for the fastest meeting of the board.
In this regard, the industry analysis, this move is to avoid being “U.S. funds racked neck”, but also to make the valuation of SMIC reached about 200 billion yuan.
As for the division of TSMC’s Jiang Shangyi, it was affected by the Epidemic. The total investment amount of Wuhan Hongxin at that time was up to 128 billion RMB, and 52 billion RMB (about 218.4 billion NTD) had been invested in the first phase, but the Chinese funds were delayed, so there were rumors of withdrawal. Jiang Shangyi, who is still in Wuhan, told the media that the company’s problems are still to be solved, while other aspects are not willing to talk more, but the company’s official website is now closed and cannot be connected.
The former foreign-funded well-known analyst Lu Xingzhi said in this regard, “It seems that this time Jiang’s father and a group of former TSMC people who followed Jiang’s father in the past were fooled by the investors, the funds were not in place, and bad reputation.”
However, Chinese technology new media “36 Krypton” recently reported that, as China, the United States friction heating up, the U.S. side since 2018, repeatedly lobby the Dutch government, hoping not to allow ASML (ASML) to export high-end lithography to China, so that Chinese chip manufacturers “money can not buy “, but in the end it was still CEO Jiang Shangyi who helped Wuhan Hongxin obtain the lithography machine.
Wuhan Hongxin is a big move in 2019 to extend the then sole director of SMIC Jiang Shangyi, hired him as Hongxin CEO.
According to the report, the photolithography machine entered the factory on December 22, 2019, so that Hongxin was like a treasure, and held a ceremony for this purpose, Jiang Shangyi was also present, and the industry is widely rumored that “Hongxin has a Jiang Shangyi, Jiang’s father brought the photolithography machine”. At that time, some people in Hongxin asked Jiang Shangyi why he could get the lithography machine, Jiang Shangyi said: “We have signed hundreds of units when we were in TSMC, (ASML) which one up and down does not know us well? Is willing to sell us the first unit to see face.”
The person told 36 Krypton, because ASML capacity is limited, the external supply conditions are extremely strict, and will even send a team of more than a dozen people to the customer’s factory site visits, for the buyer’s technical blueprint and financial status “score”, Hongxin is dependent on Jiang Shangyi, in order to quickly get the opportunity to accept the inspection.
It is not expected that Hongxin will mortgage the lithography machine for money only 1 month after getting it, and let Jiang Shangyi feel “very wrong” at that time.
According to the sky-eye search, Wuhan Hongxin in January 20, 2020, the introduction of ASML lithography machine mortgage to the Wuhan rural Commercial Bank, the loan of 580 million yuan, and in the mortgage information column, filled in the lithography machine “new not yet used”.
As an early member of the Wuhan Hongxin team, Lin Xiong revealed to 36 Krypton that “Jiang Shangyi began to feel wrong” at the time. Jiang Shangyi until June 2020, intends to resign from the position of director and chief executive officer, and with the Hongxin board of directors just like a break, and Hongxin in order to retain Jiang Shangyi surprisingly make the OBU.
Sources close to the matter told 36 Krypton that Li Xueyan, then chairman of Hongxin, had indicated that he would send a lawyer’s letter to sue Jiang Shangyi in order to prevent him from leaving, “to write Jiang’s father very hard and attribute all of Hongxin’s failures to Jiang’s father.”
Jiang Shangyi was unable to get out of his job after encountering all kinds of obstacles, and once became a puppet of Hongxin to show to the public. Only after he officially quit Wuhan and returned to the U.S. did he mention his experience at Wuhan Hongxin in an interview with the South China Morning Post and said, “My experience at Hongxin was a nightmare.”
In addition, a month after Jiang Shangyi announced his resignation, a paper from the Wuhan government once again revealed the tragic situation of Hongxin, including the existence of a funding gap, project stagnation and the scandalous lack of skill of the staff underneath, which was called “the biggest scam of the 100 billion chip” by the industry.
36 Krypton also reported that “Cao Shan” (real name Bao Enbao), who was the earliest operator of the Hongxin scam and had been touted as TSMC’s vice president and Acer’s first vice president in New York, quit Hongxin’s management in May 2019 and later left Hongxin, saying to his close friends. “Haha, Taiwanese people (meaning Jiang Shangyi) can be so deceitful, this is a bureau for him to be the ‘receiver (the person who was tricked to take over the mess left by his predecessor)’.”
Chiang Shang-Yi has returned to SMIC at the end of 2020 and became vice chairman of SMIC.
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