2011年3月31日

SMIC 2010 revenue 1.5bn ,profit 14mil 1% 中芯國際 2010年 收入淨額為14百萬美元, 資 本 額 1.7bn?

SMIC Announces 2010 Annual Results

March 30, 2011 /PRNewswire-Asia/ -- Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 0981.HK), China's largest and most advanced semiconductor foundry, is pleased to announce the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended December 31, 2010.

Highlights include:
Sales increased by 45.3% from US$1,070.4 million for 2009 to US$1,554.8 million for 2010, primarily due to an increase in overall wafer shipment. For the full year 2010, the overall wafer shipments were 1,985,974 units of 8-inch equivalent wafers, up 44.3% year-on-year.
The average selling price of the wafers the Company shipped increased by 0.6% from US$778 per wafer to US$783. Excluding DRAM revenue, the percentage of wafer revenues that used 0.13 micron and below process technology increased from 47.5% to 54.5% between these two periods.
The Company recorded a net income of US$14.0 million in 2010 compared to a net loss of US$962.5 million in 2009.
Business Review
SMIC, under the direction of new senior management, continued to expand its product portfolio and customer base despite the challenging business environment in 2010. Still, the Company continued to benefit from its strategic position in China — the largest and fastest growing integrated circuits market, and saw a steady growth in the region, in particular, through the implementation of the stimulus package that stirred strong domestic demand. As our business began to grow and improve in 2010, with our utilization rate rebounding to 96.8% in the fourth quarter, we also saw a significant growth in the revenue generated from the more advanced technology nodes of 0.13-micron and below.
Financial Overview
During 2010, we generated US$694.6 million in cash from operations. Capital expenditures in 2010 totaled $728 million, which was mainly allocated to 65-nanometer, 45-nanometer and 32-nanometer research and development and 12-inch advanced technology expansion and development in our Beijing Fab. Looking ahead, we will continue to increase capital expenditures, improve efficiency, foster innovation, and enhance our financial position as we continue for sustained profitability.
Customers and Markets
SMIC serves a global customer base, comprised of leading IDMs, fabless semiconductor companies, and system companies. Leveraging on our strategic position in China, we have seen our Greater China business grow strongly during the year, contributing 39% to the overall revenue for 2010, an increase from 35% in 2009.
Geographically, North American customers, which contributed 55% of the overall revenue, remained as the largest customer base for SMIC in 2010, displaying a strong growth in the advanced nodes. In other regions, Mainland China customers contributed 28% of the total revenue in 2010, followed by Taiwan customers at 11%.
Communication applications, which contributed 49% of our overall revenue, continued to be our strongest sector. Similarly, contribution from consumer applications also grew from 38% of revenue in 2009 to 40% in 2010. Our North American customers, which include leading IDM and fabless IC companies, showed strong demand in communications products, mainly in mobile, networking and WLAN (Wireless Local Area Network) applications. Our Chinese customers, on the other hand, showed strong demand for both consumer and communications products, including digital television (DTV), set-top box (STB), mobile, portable media player (PMP), and PDA applications.
In terms of revenue breakdown by technology node, revenue contribution from business at the 0.13-micron node and below business has grown to 52% in 2010 as compared to 48% in 2009, while revenue from 65nm technology revenue contributed 5% of wafer revenue in 2010. In addition, our 45-nanometer low-power technology development is on schedule, while we have extended our technology offering down to 40nm, plus an extension to include 55-nanometer.
In 2010, we engaged 41 new customers, and the majority of them were Chinese fabless companies, where we experienced the fastest growth. Notably, our China business has been growing steadily not only from a revenue perspective, but also based on the number of new designs using more advanced technology nodes — some pursuing 65-nanometer. This trend also signifies that China is quickly catching up to the rest of the world in terms of its innovation and design capabilities. Promising new players with innovative designs and applications continue to emerge among the Chinese fabless companies, and we are producing a broad range of applications for them, including CMOS image sensor (CIS), Mobile CMMB, HDTV, RFID, wireless and other products. To this end, SMIC remains committed to collaborating with our existing and new customers in China, and further solidifying our position as the leading foundry in the market. At the same time, we will also continue to expand our presence in the global arena.
Research and Development
In 2010, our research and development expenses were $174.9 million, which represented 11.2% of our sales.
The research and development efforts were focused primarily on our logic platform and system-on-chip (SOC) applications. SMIC in 2010 has achieved many significant milestones. Early on in the year, the Company shipped 100,000 8-inch wafers to Galaxycore using CMOS image sensor (CIS) process technology. In May, Synopsys announced the immediate availability of silicon-proven and USB logo-certified DesignWare USB 2.0 nanoPhy intellectual property for 65-nanometer (nm) low-leakage (LL) process technology. In addition, the Company has longstanding partnership with leading fabless companies to include 65nm LL and 40nm LL process technologies. For system-on-chip (SOC) front, ARM and SMIC agreed to collaborate on the development of ARM leading physical IP library platform for 65nm LL and 40nm LL technology process nodes. Our 65nm LL technology successfully moves to volume production, an accumulative wafer shipped has achieved over 10,000 pieces since mass production began in Q3 2009, mostly implemented at our 300mm facility inBeijing.
We employ approximately over 451 research and development engineers, with experience in the semiconductor industry and with advanced degrees from leading universities around the world and in China.
Outlook for 2011
Our overall outlook for 2011 is positive as we see a growing foundry market supporting an overall strengthening of our Company's foundation.
The Company broke even on both net and operating income levels in 2010, and we target sustainable profitability going forward. Our product mix continues to improve as our 65-nanometer continues to ramp up, and as our customers migrate to more advanced technology nodes that have higher ASP. Our capital expenditure spending in 2011 is being focused on products with higher ASP where our customer demand is, namely in 12-inch production.
The overall foundry market is better, and furthermore the China market looks even stronger. We continue to work hard and to seize opportunities to improve our business in this year of growth.
For detailed financials overview, please refer to www.smics.com.
About SMIC
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) foundry and technology services at 0.35-micron to 45/40-nanometer. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, and a 200mm fab under construction in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, and Japan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation.
For more information, please visit www.smics.com
Safe Harbor Statements (Under the Private Securities Litigation Reform Act of 1995)
This press release contains, in addition to historical information, "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on SMIC's current assumptions, expectations and projections about future events. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements, including among others risks associated with the press release, the current global financial crisis, orders or judgments from pending litigation and financial stability in end markets.
Investors should consider the information contained in SMIC's filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 20-F filed with the SEC on June 29, 2010, especially in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections, and such other documents that SMIC may file with the SEC or SEHK from time to time, including on Form 6-K. Other unknown or unpredictable factors also could have material adverse effects on SMIC's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Except as may be required by law, SMIC undertakes no obligation and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise.
SMIC Contact Information:

Ms. Edith Kwan
Tel: +86-21-3861-0000 x12804
Email: Edith_Kwan@smics.com

中芯國際公布2010年全年業績 
  2011/03/31 08:00

上海2011年3月31日電/美通社亞洲/--中芯國際集成電路制造有限公司(以下簡稱“中芯國際”,紐約証交所代碼:SMI,香港聯交所代碼:0981.HK),中國規模最大、技朮最先進的集成電路代工廠,今天宣布截至二零一零年十二月三十一日止年度的經審核合并業績。

摘要資料包括:

銷售額由二零零九年的1,070.4百萬美元增加45.3%至二零一零年的1,554.8百萬美元,主要是由于整體晶圓付運量增加所致。二零一零年全年,晶圓總付運量為1,985,974片8吋等值晶圓,較去年增加44.3%。

本公司付運晶圓的平均售價由每片晶圓778美元增加0.6%至每片晶圓783美元。倘剔除DRAM業務的收益,利用0.13微米或以下製程技朮的晶圓收入所佔百分比在上述兩個期間自47.5%升至54.5%。

本公司二零一零年的收入淨額為14.0百萬美元,而二零零九年則有962.5百萬美元的虧損淨額。

業務回顧

盡管二零一零年的營商環境嚴峻,但中芯國際按新高管人員的方針,繼續擴充產品組合與客戶群。本公司仍持續受惠于其位于規模最大、增長最快的中國集成電路市場的策略性地位,目睹國內穩定增長,尤其是振興經濟計划點燃強勁內需。鑒于本公司業務于二零一零年開始改善與恢復,加上產能利用率于第四季反彈至96.8%,本公司來自更先進0.13微米及以下製程的收益錄得大幅增長。

財務回顧

二零一零年,本公司經營活動所得現金為694.6百萬美元。二零一零年資金開支總計728百萬美元,主要用于研發65納米技朮、45納米技朮及32納米技朮以及北京晶圓廠拓展及發展的12吋先進技朮。邁步向前,我們將繼續增加資金開支,改善效能,培育創意,充實財力,維持我們持續的盈利能力。

客戶及市場

中芯國際的客戶遍布全球,包括主要的集成設備製造商、芯片設計公司及系統公司。憑藉本公司于中國的策略優勢,年內本公司于大中華市場的業務增長強勁,對收益總額的貢獻自二零零九年的35%增至二零一零年的39%。

按地區收入計算,北美客戶貢獻收益總額的55%,仍屬于中芯國際二零一零年最大的客戶組別,反映先進制程的強勁增長。于其他地區,中國本土客戶于二零一零年的貢獻收益總額為28%,台灣客戶緊隨其后貢獻11%。

通訊產品佔貢獻收益總額的49%,繼續成為本公司最大業務分部。同樣地,消費產品貢獻的收益比例自二零零九年的38%增至二零一零年的40%。本公司的北美客戶(包括主要的集成設備製造商及芯片設計公司)對通訊產品(主要為移動電話、網絡及WLAN(無線區域網絡)應用產品)的需求強勁,而中國客戶則對消費及通訊產品(包括數碼電視、電視機頂盒、移動電話,可攜式媒體播放器(PMP)及個人電子助理(PDA)產品)的需求強勁。

在按技朮標准划分的收益方面,0.13微米及以下製程的收益自二零零九年的48%增至二零一零年的52%,而65納米技朮對二零一零年晶圓收益貢獻5%。另外,45納米低功耗技朮開發如期進行,本公司同時將技朮供應擴展至40納米,另外擴充至包括55納米。

二零一零年,本公司新增41名客戶,大部分新客戶為中國的芯片設計公司,本公司營收因此錄得高速增長。尤其是,無論按收益計算,抑或按採用先進技朮的新產品(部分為65納米技朮)數量計算,本公司的中國業務一直穩步增長。此項趨勢亦顯示,中國的創新與設計能力正以高速趕上世界各國。在中國的芯片設計公司中,具備創新設計與產品且潛力優厚的一眾新星持續出現,本公司為該等公司提供多款應用技朮,包括CMOS圖像感應器(CIS)、CMMB移動電視、高清電視、RFID、無線產品及其他產品。為達到此項目標,中芯國際維持與中國現有客戶及新增客戶一貫合作承諾,進而□穩作為市場上領先代工企業的地位,與此同時,本公司將繼續拓展全球市場。

研發

本公司二零一零年的研發開支為174.9百萬美元,佔本公司銷售額11.2%。

研發工作主要集中于本公司的邏輯晶圓及系統晶片(SOC)業務。中芯國際于二零一零年開創多個重要里程碑。年初,中芯國際向格科微電子以CMOS圖像傳感器加工技朮交付10萬片8吋晶圓。Synopsys于5月宣布開始提供用于65納米低漏電工藝技朮的經硅驗証和獲得USB標志認証的DesignWareUSB2.0nanoPhy知識產權。此外,本公司與領先芯片設計公司合作無間,共同研發65納米及40納米的低漏電工藝技朮。至于系統晶片(SOC)之技朮,ARM與中芯國際協定在65納米和40納米低漏電工藝節點上合作開發先進的ARM領先物理IP庫平台。我們65納米低漏電工藝已成功步進量產階段,自二零零九年第三季度量產開始,累計已付運晶圓超過1萬片,大多在其北京300mm芯片廠生產。

本公司聘用約超過451名研發人員,具備半導體行業經驗與全球及中國著名大學學府高等學位。

二零一一年展望

代工市場不斷增長,鞏固了本公司整體的基礎,故此本公司二零一一年的前景相當樂觀。

二零一零年,本公司錄得淨收入及經營收入,兩者均轉負為正。展望未來,我們致力維持可持續的盈利能力。我們的產品組合不斷優化,65納米的產能繼續提升,客戶趨向需求平均售價較高技朮更先進的製程。二零一一年,我們的資金開支主力用于生產需求殷切且平均售價較高的12吋晶圓。

鑒于整體代工市場步入佳景,中國市場更加強大,我們會繼續努力爭取商機,再創佳績。

詳細信息請參考中芯國際網站www.smics.com.

安全港聲明

(根據1995私人有價証券訴訟改革法桉)

本次新聞發布可能載有(除歷史資料外)依據1995美國私人有價証券訴訟改革法桉的“安全港”條文所界定的“前瞻性陳述”。該等前瞻性陳述的聲明乃根據中芯對未來事件的現行假設、期望及預測而作出。中芯使用“相信”、“預期”、“打算”、“估計”、“期望”、“預測”或類似的用語來標識前瞻性陳述,盡管并非所有前瞻性聲明都包含這些用語。這些前瞻性聲明涉及可能導致中芯實際表現、財務狀況和經營業績與這些前瞻性聲明所表明的意見產生重大差異的已知和未知的重大風險、不確定因素和其他因素,當前全球金融危機的相關風險、未決訴訟的頒令或判決,和終端市場的財政穩定。投資者應考慮中芯呈交予美國証券交易委員會(“証交會”)的文件資料,包括其于二零一零年六月二十九日以20-F表格形式呈交給証交會的年報,特別是在“風險因素”和“管理層對財務狀況和經營業績的討論與分析”部分,并中芯不時向証交會(包括以6-K表格形式),或聯交所呈交的其他文件。其它未知或不可預測的因素也可能對中芯的未來結果,業績或成就產生重大不利影響。鑒于這些風險,不確定性,假設及因素本次新聞發布中討論的前瞻性事件可能不會發生。請閣下審慎不要過分依賴這些前瞻性聲明,因其只于聲明當日有效,如果沒有標明聲明的日期,就截至本新聞發布之日。除法律有所規定以外,中芯概不負責因新資料、未來事件或其他原因引起的任何情況,亦不擬更新任何前瞻性陳述。

欲知詳情,請聯系:

關幼菊
電話:+86-21-3861-0000轉12804
電郵:Edith_Kwan@smics..com

消息來源 中芯國際集成電路制造有限公司



連旺2年 台積聯電今年戰新高

台積合併營收將逾4700億 15.5bn est 2011 聯電估增5~10% 4.2bn est 2011

【蕭文康╱台北報導】晶圓代工雙雄2010年營收創下歷史新高,而台積電(2330)獲利可望同創新高,聯電獲利則是近年來最佳,可說繳出亮麗成績單。展望2011年,市場推估台積電、聯電營運將連2年創新高。

台積電2010年前11月合併營收達3846.69億元,法人預估,全年至少達4183.93億元,不僅是首度站上4000億元大關,也將較2009年大幅成長逾45%,稅後純益上看1600億元以上,年增率高達8成,每股純益(Earnings Per Share,EPS)約6.22元。
展望2011年,張忠謀雖指半導體產值在2011年成長率僅有5%,但晶圓代工產值成長率仍有14%,而台積電表現「會比晶圓代工產業好」,代表台積電2011年營收將至少成長14%,法人則估,台積電2011年合併營收將達到4700億元以上,並躋身全球前3大半導體廠。 

台積躋身全球前3大 (資 本 額 8.3bn)

國際整合元件大廠委外釋單量將進一步擴增,法人預估,包括德儀、富士通及飛利浦12吋廠2011年潛在釋出產能均逾4成以上,其中,德儀12吋產能不足達58%,對於台積電、聯電是項利多訊息。
聯電執行長孫世偉日前指出,2010年獲利是近幾年最佳,雖他未進一步指出明年業績展望,但法人估聯電2010年營收將度突破千億大關,來到1200億元以上,年增近4成,全年EPS約1.7元。法人預期,聯電2011年營收年增5~10%,估2011年聯電營收將至少1260億元。 

聯電營收至少1260億 4.2bn (資 本 額 4.3bn) refhttp://www.104.com.tw/jobbank/cust_job/introduce.cfm?j=5a70432656463e6952323b1d1d1d1d5f2443a363189j97&jobsource=checkc


晶圓代工近期因新台幣不斷升值,市場預估將多少影響到雙雄業績表現,其中,台積電因預估第4季合併營收1070~1090億元,以前2月合併營收752.73億元推算,台積電12月合併營收約在337億元以上,月減8.5%。
聯電財務長劉啟東預估,聯電12月營收可望持穩,聯電前2月營收達211.4億元,若依聯電法說預估第4季營運目標推估,12月營收最高可達到115.12億元,月增10%,但因台幣升值因素,法人估,聯電12月營收約104~110億元左右。 



中国芯片巨头的第一要务:盈利

2011年04月07日18:43  来源:商业周刊中文版 
  在中国,利用集成电路生产智能手机、数码相机等各类数码产品的厂家不在少数,但这并没有给中国最大的芯片制造企业带来利润。总部设在上海的中芯国际集成电路制造有限公司(简称“中芯国际”)自2002年首间厂房建成投产至今,亏损已达到16.6亿美元。2010年,全球芯片代工产业(特指以契约为基础的半导体晶片制造产业,其需求来源于集成电路设计企业)增长迅猛,中芯国际的一些竞争对手订单多得接不完,不得不将部分客户拒之门外。不过即使是碰上了这样的好年景,中芯国际也依然是惨淡经营。彭博社针对分析师所做的一项调查显示,2010年中芯国际估计亏损6750万美元。

中芯国际的扭亏为盈将有助于中国闯入由英特尔、三星电子以及台湾多家代工企业掌控着的全球半导体市场。中国市场上活跃着众多新兴的芯片设计企业,但它们很难让知名生产商为其生产芯片。其原因在于,芯片生产商往往会为满足高通公司(Qualcomm)或英伟达公司(Nvidia)等已具备一定规模的企业的需求而保留生产力,不会轻易接受其他企业的订单。而这些不受重视的企业正是中芯国际的目标客户。驻上海的高科技咨询公司RedTech Advisors总经理迈克尔·克伦德宁(Michael Clendenin)说:“中芯国际的主要目的未必在于盈利”,中国的决策机构对中芯国际的期望是“让目前求芯片无门的企业有米下锅”。  然而,在中芯国际首席执行官王宁国看来,这一局面正在发生转变。中芯国际公布的财报显示,2010年第三季度,公司实现净利润3040万美元,这是中芯国际连续第二个季度实现盈利。王宁国说:“火候不到水不开,再添一把柴就大功告成了。”
  然而,仍有许多投资者指望中芯国际能偶尔实现盈利。“从商业角度来看,”克伦德宁表示,“困境中的中芯国际可以说是"虽败犹荣"。”半导体生产厂的运营需要巨额投资:造价往往高达数十亿美元。与全球最大的芯片代工企业台湾积体电路制造股份有限公司(Taiwan Semiconductor Manufacturing,简称“台积电”)相比,中芯国际的制造工艺仍有很大差距,其产品也因此失去了价格优势。这无疑成为中芯国际的一大弱势。
  王宁国2009年11月受命成为公司新掌门时,正逢中芯国际陷入谷底。王宁国上任后不久,中芯国际就与台积电达成协议,向台积电支付3.38亿美元现金以及部分股份作为一场不当使用商业秘密纠纷的赔偿(中芯国际并未承认该项指控)。鉴于中芯国际的技术比同场竞争的其他企业落后好几代,王宁国去年一直着重于提升企业的技术能力,他把目标转向电路宽度更小、市场价格更高的芯片。2010年第四季度,该类芯片的销售只占中芯国际营业总额的8%,但王宁国表示,在未来一年中该比例将上升至“40%以上”。此外,王宁国还重组了公司的高管队伍,延揽了大批来自英特尔、台积电等企业的管理人员。王宁国说:“我们是一边赶路一边修车。”
  王宁国出生在中国,曾在全球最大的半导体生产设备制造企业应用材料公司(Applied Materials)供职长达25年。汇丰证券(HSBC Securities)驻香港的区域科技部门主管史蒂文·佩拉约(Steven Pelayo)对王宁国的评价是:“非常非常重视数据的发布以及计划的执行。”在佩拉约看来,目前已经脱胎换骨的中芯国际“就剩下名字没变了”。
  中芯国际的转型也得到了中国政府的支持:国有企业大唐电信科技产业集团(简称“大唐电信”)于2008年出资1.72亿美元购入中芯国际16.6%的股份。去年11月,大唐电信宣布把持股比例提高至19.1%。德勤公司(Deloitte)驻北京的主管合伙人周锦昌表示,随着中国扩大内需策略的逐步实施,电子产品的销售将有所增加。对中芯国际而言,这预示着更多的市场机会。他同时认为:中芯国际虽然“尚不具备最尖端的技术能力,但他们更贴近市场”。
  持反对意见者则认为,中芯国际未必能够搭上这次增长的顺风车。目前,全球芯片产业已处于饱和状态,其中不乏规模更大、资金实力更雄厚的外国企业,比如总部位于阿布扎比的Globalfoundries公司,该公司预计今年将进一步扩大投入,斥资54亿美元更新厂房和设备。相比之下,中芯国际自2004年在香港证券交易所正式上市交易以来,其股价跌幅已达到76%。“竞争的规律就是弱肉强食,想转败为胜必须付出异常高昂的代价,”麦肯锡公司驻台湾办公室的主管合伙人比尔·怀斯曼(Bill Wiseman)这样评价道。
  尽管如此,王宁国还是希望疑心重重的投资者能够注意到中芯国际正在逐步好转。有分析师预测,该公司今年的销售额预计达到16.6亿美元,进而有望实现1670万美元的小额盈利。“对于一个希望不断壮大的企业来说,实现盈利是至关重要的,”他说,“而这恰恰是中芯国际过去所缺乏的。”
  提要:中芯国际不仅是中国最大的芯片生产企业,也是有史以来的赔钱大户。新任首席执行官则表示,情况正在好转。

2011年3月26日

金融創新 不是所有的創新都對社會有益 政府的監控 GREED

金融創新 危害 社會

  • 2011-03-26
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  • 工商時報
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  • 【記者譚淑珍/台北報導】

     台積電董事長張忠謀昨(25)日指出,他對絕大部分的金融創新有很大的「反感」,也很「反對」集團管理模式,因為與公司治理的原則相違背,同時,他也認為,合併之路會創造出附加值,「往往是『迷思』」。
     工商協進會公亮紀念講座昨邀張忠謀就「提升企業附加價值」為題發表專題演講,他在會中提出了「二反一迷思」。
     一「反」是反感。張忠謀說,「我對絕大部分的金融創新是有很大的反感」,特別是在金融海嘯所造成的傷害,不只是對一般社會,對整個社會都是一個損害。
     他說,金融業在過去20多年來有很多的創新,然而,不是所有的創新都對社會有益,不少是對社會有害的,發生對社會不好的事,是政府的監控機制失責了。
     不過,在金融海嘯後,他說,西方政府已有共識對金融業應該要有效監理,例如美國政府就想要所作為,但他看美國國會通過的相關法令,似乎沒有什麼力量,然而,美國社會的民主機制有其無形的力量,會使金融界收歛一點,例如,常常讓銀行家到國會、到法院做證,對銀行家也是麻煩事,銀行家也會想要維護自己的名譽,這也是可以達到「千夫所指,無疾而終」的力量。
     所以,他說,過去一年來,美國銀行界的人要離開美國銀行界,「我都鼓勵他」,如果有人要進入美國的銀行界,「我都會勸阻(discourage)他」。
     二「反」是反對。張忠謀說,他一直是反對集團化,因為與公司治理的原則有衝突,公司治理是要有人負責,但是,「在集團裡,誰負責?」,這與公司治理的原則相違背,所以他反對。
     他說,世界先進董事長章青駒是他請的來,「我跟CC(章青駒)講,世界先進是獨立的公司,由他負責」,所以,章青駒從來不去找他,「如果他找我,我可以跟他吃個午餐,但他從來不找我」,張忠謀強調,台積電與世界先進不是集團,是各自獨立的公司。
     至於一「迷思」,張忠謀說,依據過去經驗,認為合併之路會增加附加價值,往往是迷思,多半都不會成功,但是,若是與不同領域的公司合併,並利用那家公司的創新,他說,是可行的,若是與同樣的公司合併,在減少成本的同時也往往減少了附加價值,所以,這是迷思。

2011年3月23日

巴菲特投資高盛2年 賺37億美元 Goldman to buy back from Buffet

巴菲特投資高盛2年 賺37億美元 3.7bn/5bn  2008~2011
高盛公司(Goldman Sachs)18 日表示,將買回「股神」巴菲特的波克夏公司在2008年底以50億美元投資高盛的優先股;包括帳面獲利,波克夏將大賺37億美元。高盛18日已獲得聯準會(Fed)批准,將買回2008年金融危機期間賣給巴菲特旗下波克夏公司(Berkshire Hathaway)的優先股。預定4月18日執行。
高盛說,將以10%的溢價買回波克夏持有的5萬股優先股,另外支付發放11.8億美元的股利,使波克夏在這樁股票交易的獲利達到17億美元。
此外,波克夏還持有高盛50億美元普通股的認股權證,執行價為每股115美元,意味波克夏擁有20億美元的帳面獲利。目前波克夏將繼續持有這些權證。
高盛股價18日上漲2.7%,收在159.96美元,遠高於2008年底的84.39美元。
2008年9月雷曼兄弟控股公司倒閉,引發金融海嘯,高盛股價也受到拖累而大幅重挫。當時波克夏入股高盛50億美元。高盛18日說:「波克夏2008年投資高盛,對我們投下重要的信心票,我們對此萬分感激。」不過,贖回優先股將導致高盛第一季每股盈餘減少2.84美元。
巴菲曾在年度致股東信中曾警告,今年波克夏的投資收益可能縮水,因為他在金融危機期間入股的金融業者今年將開始贖回股票。他表示:「不歡迎」高盛買回優先股,因為「我們的獲利能力將大為削減。」
高盛去年就曾向Fed提出贖回優先股的請求,但Fed一直遲遲不點頭,打算廣泛評估大型金融業者發放股利的情況再作決定。
高盛18日說,Fed對高盛今年的資本計畫沒有異議。該計畫包含買回波克夏的優先股、實施庫藏股與提高股利等。不同於其他同業,高盛在金融危機期間從未削減35美分的年度股利。
瑞士信貸(Credit Suisse)分析師陳霍華估計,贖回優先股將使高盛每年的盈餘增加4%,股東權益報酬率也將增加80個基點。
【2011/03/20 經濟日報】http://udn.com/

Broadcom aquires Provigent 313million: 博通 併購網通晶片廠

博通四連併 4G展雄心

  • 2011-03-23
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  • 工商時報
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  • 【記者張瀞文/台北報導】
     全球網通晶片巨擘博通(Broadcom )近日再度宣布將以3.13億美元(約93億元台幣)併購全球最大(microwave backhaul)混合訊號晶片大廠Provigent,由於這是博通去年十月以來的第四個併購案,而博通一口氣花了接近250億台幣併購四家網通晶片廠,凸顯的正是博通佈局下世代4G通訊技術的決心。
     通訊晶片大廠購併一波接一波,繼日前聯發科宣布購併雷凌後,博通也緊接著宣布與以色列微波回傳傳輸系統(microwave backhaul)混合訊號晶片大廠Provigent簽訂正式協議,將以3.13億美元(約93億元台幣)現金收購Provigent所有股權,預定整個交易將在第二季內完成。
     業者表示,雖然3G已經逐漸成熟,不過在圖像及影音的傳輸上仍有所不足,為了彌補3G的缺陷,現在所有的通訊晶片廠商都已經開始往下世代4G做佈局,而4G由於仍不成熟,目前仍有許多個方案包括Wimax、LTE等再醞釀,未來哪一個技術會勝出現在還不是很明確,不過網通晶片廠在技術上的卡位戰則已經展開。
     據了解,目前在4G的技術當中,支持LTE的廠商多於Wimax的廠商,業者表示,去年10月以來包括這次購併微波通訊晶片廠商Provigent在內,博通一共發動了四次的購併案,而這四次的購併案均與博通未來在4G的佈局有關,博通主要是想透過購併補足本身在4G技術當中的不足,去年以來的四次購併案,博通一口氣共花掉約250億元台幣。
     業者表示,目前蘋果熱賣的iphone4及ipad2產品當中的WiFi、藍牙以及觸控晶片都是由博通所設計,大吃蘋果讓博通去年以來業績持續創高,有蘋果訂單作基礎,博通未來將展現擴大本身有線及無線網通事業版圖的決心,而在3G落後給高通的博通,將透過4G迎頭趕上與高通一爭高下。

Broadcom Gains Microwave Transmission Technology with Acquisition of Provigent

Company Expands Portfolio for Mobile Backhaul

IRVINE, Calif.March 21, 2011 /PRNewswire/ -- Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced that it has signed a definitive agreement to acquire Provigent, a privately-held leading provider of highly integrated, high performance, mixed signal semiconductors for microwave backhaul systems, with offices in Israel and Santa Clara, Calif.  Broadcom provides one of the industry's broadest portfolios of Ethernet networking solutions for service provider infrastructure including the mobile backhaul. With the addition of Provigent's engineering expertise in microwave radio products, the company expands its robust portfolio to more thoroughly address the $5Bmicrowave backhaul equipment business(1).  
In order to manage the exponential growth in wireless traffic and transition to 4G, carriers are faced with the challenge of backhauling data from the cell sites to the core network. Microwave backhaul is the most prevalent type of technology used in the multi-billion dollar global mobile backhaul business, representing greater than 50 percent of all solutions(1).
"Provigent is a unique asset with world-class microwave backhaul technology and strong engineering talent developing innovative and highly integrated semiconductor solutions for the microwave segment," said Rajiv Ramaswami, Executive Vice President and General Manager ofBroadcom's Infrastructure and Networking Group. "Combining their microwave backhaul solutions with our industry leading network infrastructure and wireless solutions allows us to better serve our customers and expand our addressable market."
"Provigent's System-on-Chip (SoC) solutions are used to solve a crucial problem in the infrastructure of cellular networks, which is the backhaul bottleneck," said Dan Charash, Chief Executive Officer, Provigent. "The many synergies with Broadcom's broad portfolio of wireline and wireless SoC technologies and capabilities will accelerate product development and provide our customers with a compelling offering."
In connection with the acquisition, Broadcom expects to pay approximately $313 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of Provigent. The purchase price will be paid in cash, except that a portion attributable to certain unvested employee stock options will be paid in Broadcom restricted stock units. A portion of the cash consideration will be placed into escrow pursuant to the terms of the acquisition agreement. Broadcom expects the acquisition of Provigent to be neutral to earnings in 2011. The boards of directors of the two companies have approved the merger. The transaction is expected to close in Broadcom's second quarter, 2011, and remains subject to the satisfaction of regulatory requirements and other customary closing conditions.
About Provigent
Provigent is a leading supplier of SoC solutions for the Broadband Wireless Transmission industry. Provigent's field-proven, mass production SoC solutions offer significant system level enhancements while lowering overall system cost. With an established economy of scale, significant R&D investments and a focused dedication to the Broadband Wireless Transmission industry, Provigent continues to establish itself as a leading SoC provider. More information is available on the Web at www.Provigent.com or via e-mail at info@provigent.com.
(1)  Infonetics Mobile Backhaul Equipment Revenue Forecast (4Q10), $5.2B in revenue by 2014
About Broadcom
Broadcom Corporation is a prominent technology innovator and global leader in semiconductors for wired and wireless communications.  Broadcom products enable the delivery of voice, video, data and multimedia to and throughout the home, the office and the mobile environment.  We provide the industry's broadest portfolio of state-of-the-art system-on-a-chip and embedded software solutions to manufacturers of computing and networking equipment, digital entertainment and broadband access products, and mobile devices.  These solutions support our core mission: Connecting everything®.
Broadcom, one of the world's largest fabless communications semiconductor companies, with 2010 revenue of $6.82 billion, holds more than 4,800 U.S. and 2,000 foreign patents, and has more than 7,800 additional pending patent applications, and one of the broadest intellectual property portfolios addressing both wired and wireless transmission of voice, video, data and multimedia.
A FORTUNE 500® company, Broadcom is headquartered in Irvine, Calif., and has offices and research facilities in North AmericaAsia and EuropeBroadcom may be contacted at +1.949.926.5000 or at www.broadcom.com.
Cautions Regarding Forward-Looking Statements:
All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. Examples of such forward-looking statements include, but are not limited to, references to the anticipated benefits to Broadcom related to its acquisition of Provigent, the expected market and demand for microwave  backhaul solutions, statements regarding potential future product developments, the impact of the acquisition on Broadcom's earnings per share, the expected purchase price and the expected completion and timing of the transaction. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
Important risk factors that may cause such a difference for Broadcom in connection with the acquisition of Provigent include, but are not limited to:
  • the ability of the parties to successfully consummate the transactions contemplated by the merger agreement and related transaction documents,
  • unexpected variations in market growth and demand for microwave backhaul products and technologies,
  • the risks inherent in acquisitions of technologies and businesses, including the timing and successful completion of technology and product development through volume production,
  • integration issues,
  • costs and unanticipated expenditures,
  • changing relationships with customers, suppliers and strategic partners,
  • potential contractual, intellectual property or employment issues, and
  • charges resulting from purchase accounting adjustments or fair value measurements.

Broadcom Corporation to Acquire Beceem Communications Inc., a Leader in 4G Wireless

Combined Company will Accelerate the Availability of Multimode LTE / WiMAX Cellular Solutions for use in Handsets, Broadband Wireless Gateways, Mobile Computing and Consumer Electronics Devices

IRVINE, Calif., Oct 13, 2010 /PRNewswire via COMTEX News Network/ -- Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced that it has signed a definitive agreement to acquire Beceem Communications Inc., a privately-held company that is a leading provider of fourth generation (4G) wireless platform solutions. Beceem has announced the industry's first 4G multimode platform that can support both LTE and WiMAX 4G networks. Supporting peak broadband download speeds of up to 200Mbps, this technology will enable truly mobile broadband connectivity for smartphones, mobile computing, consumer electronics products and wireless gateways.
The acquisition of Beceem accelerates Broadcom's time-to-market in 4G by adding a talented team with proven expertise developing and selling these solutions for a broadening ecosystem of equipment providers and operators. When combined with Broadcom's 3G/2G cellular solutions, wireless LAN, Bluetooth, GPS, Ethernet switching and other associated IP, Beceem's 4G technology will enable our combined customers to accelerate the market availability of highly integrated, lower cost 4G wireless broadband devices.
Service providers around the world are rolling out next generation 4G networks to meet the explosive demand for an expanding variety of content and the growing number of wireless connected devices per subscriber designed to access this content. Beceem's solutions address both LTE and WiMAX, the two standards associated with 4G cellular services. According to the Global Semiconductor Alliance, 132 operators in 56 countries are investing in and are expected to deploy LTE, while WiMAX has already been deployed in over 550 networks in 148 countries. These next generation 4G networks will provide a robust mobile broadband experience at home, at work and while on the road for billions of people around the world.
"The combination of Beceem and Broadcom creates a leader in providing multimode wireless connectivity solutions to service providers and equipment manufacturers around the world," said Scott Bibaud, Broadcom's Executive Vice President & General Manager of the Mobile Platforms Group. "Beceem's talented teams of engineers in India and the U.S. have been focused on enabling a 4G ecosystem of operators and equipment manufacturers to drive the deployment of 4G networks. We look forward to adding their innovative technologies to our product portfolio and providing these technologies to our customers."
Beceem's Chief Executive Officer, Surendra Babu Mandava, said: "When combined with Broadcom's 2G and 3G cellular solutions and broader wired and wireless communications portfolio, our 4G products will enable operators to roll out next generation wireless broadband solutions while providing support for existing networks. Our combined offering will be one of the most extensive and formidable in the industry."
In connection with the acquisition, Broadcom expects to pay approximately $316 million, net of cash assumed, to acquire all of the outstanding shares of capital stock and other equity rights of Beceem. The purchase price will be paid in cash, except that portion attributable to unvested employee stock options will be paid in stock options exercisable for shares of Broadcom's common stock. A portion of the cash consideration payable to the stockholders will be placed into escrow pursuant to the terms of the acquisition agreement. Excluding any purchase accounting related adjustments and fair value measurements, Broadcom expects the acquisition of Beceem to be neutral to earnings in 2011. The boards of directors of the two companies have approved the merger. The transaction is expected to close in Broadcom's fourth quarter, 2010 or by the end of Broadcom's first quarter, March 31, 2011 and remains subject to the satisfaction of regulatory requirements and other customary closing conditions.
About Beceem
Beceem is the leading provider of 4G semiconductors and offers a number of single-chip solutions optimized for mobile devices and wireless broadband markets. Beceem's products are WiMAX certified, power the CLEAR and NOQ networks in the United States and are validated against WiMAX base stations from all major OEMs.

Broadcom Corporation to Acquire Gigle Networks Inc.

Broadcom Expands Its Connected Home Portfolio with the Addition of Gigle Networks' Powerline Networking Technology

IRVINE, Calif.Nov. 22, 2010 /PRNewswire-FirstCall/ -- Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced that it has signed a definitive agreement to acquire Gigle Networks Inc., a privately-held company that develops system-on-a-chip (SoC) solutions for home networking over power lines.  
When combined with Broadcom's world-class portfolio of wired and wireless solutions for the home, Gigle Networks' technology will widen the breadth of Broadcom's intellectual property and enable the design of more highly integrated SoCs that allow whole-home network coverage in a wide variety of global deployment scenarios.  By adding powerline to its technology portfolio, Broadcom will be able to provide additional functionality to its customers in broadband home segments including set-top box, broadband carrier access and wireless router.
"The worldwide market has demanded technologies for powerline, coax and wireless networking using standards such as Wi-Fi, MoCA, HomePlug AV, IEEE 1901 and G.hn to allow the streaming of multiple high definition and 3D video streams," said Jason Blackwell, Digital Home Practice Director, ABI Research.  "With electric outlets readily available around the home, more consumers are seeing the benefits of powerline, and service providers' increased push toward gateways and IPTV is expected to help increase the market at a 32 percent compound annual growth rate from 2010 to 2015."
Powerline networking uses existing electrical wiring to create an in-home network, enabling a cost-effective and efficient method to connect multiple devices and distribute digital content throughout the home.  Gigle Networks' powerline networking technology is HomePlug AV certified and is designed to be compliant with the IEEE 1901 standard for high speed powerline communications. Gigle Networks is a member of the HomePlug® Powerline Alliance, an organization responsible for establishing standards and testing devices for compliance and interoperability.  HomePlug AV and IEEE 1901 solutions complement other networking technologies for the connected home.  For example, a combined home network of powerline networking, MoCA and Wi-Fi enhances advanced applications like high definition video streaming, enabling a whole-home connected environment.  The acquisition will also accelerateBroadcom's time to market for G.hn, a new draft specification for existing-wire home networking, developed under the International Telecommunication Union.
"Broadcom's broadband home platforms span a wide range of segments including set-top box, broadband carrier access and wireless router.  With the addition of Gigle Networks' powerline technology, and our proven ability and extensive experience in supporting the multiple methods to connect devices including Ethernet, Wi-Fi, MoCA and DLNA, Broadcom is able to offer service providers and device manufacturers a variety of ways to deploy a whole-home connected environment," said Dan Marotta, Executive Vice President & General Manager of Broadcom'sBroadband Communications Group.
"Broadcom is a well known leader in designing highly integrated home networking SoCs to enhance the consumer infotainment experience in the home," said Juan Carlos Riveiro, President and Chief Executive Officer, Gigle Networks.  "As the segment evolves and new standards emerge, such as G.hn, technologies from both companies can be combined to enable higher performance, more integrated and lower-cost solutions for the connected home."
In connection with the acquisition, Broadcom expects to pay approximately $75 million to acquire all of the outstanding shares of capital stock and other rights of Gigle Networks.  The purchase price will be paid in cash, except that holders of unvested employee stock options will receive Broadcom equity awards.  Additional consideration of up to $8 million in cash will be reserved for future payment to the former holders of Gigle Networks capital stock and other rights upon satisfaction of certain performance goals.  A portion of the cash consideration payable to the stockholders will be placed into escrow to cover indemnity obligations.  Excluding any purchase accounting related adjustments or fair value measurements that are not estimable at this time, Broadcom expects the acquisition of Gigle Networks to be dilutive by approximately $0.01 per share in 2011.  The shareholders of Gigle Networks and the boards of directors of the two companies have approved the acquisition.  The transaction is expected to close in the fourth quarter of 2010 and remains subject to customary closing conditions.
About Gigle Networks
Gigle Networks provides solutions for multimedia home networking that can extend wired and wireless Ethernet everywhere in the home — without the need for new wires. Targeted for applications such as Internet Protocol Television (IPTV), broadband TV (BBTV), video on demand (VoD), and voice over IP (VoIP), Gigle Networks' products offer superior performance, coverage and Quality of Service (QoS), and are designed to be easily integrated into consumer electronics and networked products. Gigle Networks is a strong supporter of open standards, a board member of the HomePlug® Powerline Alliance, and an active participant in the IEEE 1901 standards body and the ITU-T G.hn wireline standardization initiative.

Broadcom Announces Intention to Acquire Innovision Research & Technology PLC

IRVINE, Calif., June 17, 2010 /PRNewswire via COMTEX News Network/ -- Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced its subsidiary, Broadcom International Ltd., has agreed to terms with the board of Innovision Research & Technology PLC, (a company listed on the Alternative Investment Market of the London Stock Exchange: INN), to make an all-cash offer to acquire all of the issued and to be issued shares of Innovision. Innovision is a leader in near-field communication (NFC) technology.
Under the terms of the offer, Innovision shareholders will receive Pounds Sterling 0.35 (approximately $0.52) per share in cash for each Innovision share held, representing a total equity value of approximately $47.5 million based on current exchange rates. This offer represents a 84.2% premium above the closing price of Innovision common stock on June 17, 2010. Broadcom expects to close the acquisition of Innovision in the third quarter of 2010.
The full terms of today's announcement are accessible at http://investor.broadcom.com/rule-2-5disclaimer.cfm.
This press release and the full announcement by Broadcom International Ltd. concerning the offer for the entire issued and to be issued ordinary share capital of Innovision Research & Technology PLC (the "Offer") does not constitute or form part of any offer or invitation to sell or purchase any securities or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, pursuant to the Offer or otherwise. The Offer will be made solely by an offer document and (in the case of certificated holders of Innovision Research & Technology PLC ordinary shares) the accompanying form of acceptance which will contain the full terms and conditions of the Offer, including details of how the Offer may be accepted.