China’s semiconductor scam has officially kicked off with the end of Wuhan Hongxin’s $100 billion scam. Foreign and Chinese media have reported that Cao Shan, the promoter of “Hongxin”, has set up Zhuhai “Yixin”, “Yunxin”, Hubei “Tianxin” and Jinan “Quanxin” since 2018. “These semiconductor companies and Wuhan Hongxin are “the same heart”, of which the outside world is most worried about ” Quanxin”, currently China’s state-owned capital has more than 500 million yuan, but controlled by Cao Shan, “Quanxin” one of the promoter shareholders “Yi core” contribution is “0 “The same way as Hongxin.
The Voice of America reported today on the development of China’s semiconductor profile, saying that Wuhan Hongxin rotten stranded for more than a year, the senior management issued a notice of staff severance on February 26, the company has no plans to resume work and production, requiring all staff to submit applications for separation, so that employees to complete the separation procedures before the end of business on March 5, this 100 billion chip scam officially ended.
However, China’s semiconductor industry fraud has just unveiled the prologue, one of the Hongxin manipulators Cao Shan (real name Bao Enbao) set up a company called “light amount blueprint” in 2017, the same year and Wuhan East-West Lake District Government jointly set up Hongxin. The Chinese media disclosed that the shareholders of Light Volume Blueprint are Mo Sen and Li Xueyan, who is the legal representative and chairman of Hongxin and holds 49% of Hongxin’s shares.
It is worth noting that Mo Sen was not the initial shareholder of Light Volume Blueprint, which had a shareholder change in 2019, with Mo Sen replacing Cao Shan as the company’s legal entity, so Cao Shan and Li Xueyan were the two initial promoters of Light Volume Blueprint, who together operated the birth of Hongxin.
The Voice of America also said that Cao Shan, the promoter of Hongxin, has set up Zhuhai “Yixin”, “Yunxin”, Hubei “Tianxin” and Jinan “Tianxin” since 2018. The company’s promoter, Cao Shan, has set up Zhuhai “Yixin”, “Yunxin”, Hubei “Tianxin” and Jinan “Quanxin”. In other words, Hongxin, Yixin, Yunxin, Tianxin, Quanxin, so many cores, are the same heart.
At present, the five major chip companies controlled by Cao Shan, Quanxin has attracted the most attention, and this investment project has been listed as a key project in Shandong Province, Quanxin is highly regarded, the state capital has smashed more than 500 million yuan (about 2.2 billion New Taiwan dollars). According to local media reports in Jinan, Quanxin’s total investment is RMB 59 billion, with construction starting in the first quarter of 2019 and a 12-inch 12nm/7nm process node wafer manufacturing line planned for the future.
What is questionable is that Quanxin’s promoter shareholders have funded still only the state-owned enterprises actually controlled by the local government, Quanxin’s promoter shareholders, also Cao Shan’s actual control of Yixin’s actual contribution is surprisingly 0, which is the same as Wuhan Hongxin.
Although the future of Quanxin remains to be seen, the past year has seen a rash of bad semiconductor projects in China. The Voice of America said, according to statistics last October, in more than a year’s Time, China has six tens of billions of dollars or more of semiconductor planning projects stopped, in addition to Wuhan Hongxin, but also Nanjing Deco code, Chengdu Ge core, Shaanxi Kun with, Jiangsu Huaian De Huai semiconductor and Guizhou Huaxintong.
In addition, a total investment of 1 billion yuan of Hebei Ang Yang microelectronics also stalled last year. The company’s general manager, Xu Guozhong, was reported to be suspected of cheating the government subsidy funds and state-owned land.
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