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Huawei and his "spare tire" army

via:驱动之家     time:2020/5/30 9:01:50     readed:109

It is said that 2019 is the worst year in the past decade, but also the best year in the next decade. In the turbulent external environment, the same applies to Huawei.

The haze of the epidemic has not dissipated, and the United States has announced it will

Was listed by the United States

Among them, the establishment of Hubble investment company seems low-key, but it has built a new defense against future risks for Huawei.

From Huawei revenue and structure

Before analyzing the investment layout of Hubble, let's take a look at Huawei's organizational structure. On Huawei's official website, there is a clear structure chart:

华为和他的“备胎”大军们

Overall, in addition to functional departments ,Huawei business is mainly divided into ICT business and consumer business, among which, ICT business covers operators BG、 enterprise BG and Cloud.

华为和他的“备胎”大军们

In 2019, for example, Huawei's annual sales revenue was 858.8 billion yuan, up 19.1% year on year. In this year, the proportion of consumer business to total revenue exceeded 50% for the first time, while before 2018, the operator business was Huawei's business with the highest proportion of revenue.

However, some analysts believe that Huawei's revenue share of consumer business and operator business will return to track in 2020, mainly due to the cyclical change of the communication industry and the decline of the mobile phone industry.

On the one hand, with the accelerated deployment of 5 G ,Huawei operator business revenue will increase. For example, this year, China's three major operators put out a total price of up to 70 billion yuan bidding projects, including Huawei bid share of more than half. More and more countries are lifting the ban on Huawei in overseas markets ,Huawei are or are about to reap more five G of contracts that will be reflected in revenue in 2020.

On the other hand, IDC report shows that the shipment volume of smart phone industry continues to decline. Although Huawei has the trend of growth against the trend, it is impossible to achieve large-scale growth in sales volume. Therefore, Huawei's consumer business is also opening up new growth points in various categories such as notebook computers and smart screens. At present, the mobile phone business is still the basic disk of Huawei's consumer business.

It seems that at least 2020 will be the harvest season for Huawei in 5g network construction.

Why Huawei selected

And it should be noted that the current business, which accounts for nearly 90% of Huawei revenue, can not be carried out without chips, and the domestic chip industry's common Huawei has not escaped

Some people may wonder: isn't Hisilicon fully adopted in many Huawei businesses?

This is the case, but from the chip operation mode ,Huawei belong to the Fabless( wafer-free manufacturing design) category, this kind of chip enterprises responsible for chip circuit design and sales, other production, testing, packaging and other links are outsourced.

In other words, Huawei Hisilicon is in the middle of the chip supply chain and has a large demand for upstream and downstream industries. Especially in terms of EDA software and chip manufacturing process, Huawei does not have the ability to produce and sell itself.

In the context of the current major country relationship between China and the United States, we can get Huawei's future focus and gold digging market, and then look at the investment targets of Hubble. This causal relationship is obvious.

According to the public information, Huawei's Hubble Technology Investment Co., Ltd., founded in April 2019, is 100% controlled by Huawei Investment Holding Co., Ltd., with only one business scope: venture capital business.

The establishment of the company has also attracted a lot of attention in the investment circle, and is seen as an important signal for Huawei to invest deeply and reconstruct the supply chain.

A number of industry sources said that in the past Huawei was a global supply chain, in the domestic semiconductor companies procurement is not much.

Huawei's long-term strategy is to avoid the risk of single source suppliers, optimize the supply resources of multi origin manufacturing for key components, and strive to have backup solutions for key components, so as to reduce the impact of single supplier's supply interruption or product quality problems on product supply and delivery.

about this point, we can find the answer in the second issue mid-term note prospectus of 2019 issued by Huawei. according to the prospectus, the purchase amount Huawei2018 is $76 billion, covering more than 2300 purchasing categories ,13000 suppliers, with more than 2700 purchasing staff, and the procurement business is distributed in more than 140 countries.

The data shows that the total purchase amount of the top five suppliers accounted for 24.52% in 2018. From January to June 2019, the total purchase amount of the top five suppliers accounted for a further decline, about 22.99%. The main products purchased were electronic devices, computer systems and components, multimedia equipment and accessories, etc.

Therefore, even if it is such a defense, Huawei still does not rely heavily on the United States in the supply chain.

Huawei Chairman-in-Office Guo Ping said at the 2020 meeting of analysts,

But what happened

At present, the enterprises invested by Hubble have covered the third generation semiconductor, wafer level optical chip, power management chip, clock chip, RF filter and other fields.

The following is the investment target of Hubble investment:

华为和他的“备胎”大军们

In addition, Huawei's official website has also disclosed major supply chain manufacturers in the United States.

华为和他的“备胎”大军们

By contrast, most of Hubble's companies are chip-related, unicorn-potential domestic companies, and many companies have direct competition with Huawei supply chain manufacturers.

For example, Shandong Tianyue mainly uses the third generation semiconductor silicon carbide material, its core product

In 2019, Cree, its US counterpart, announced to invest US $1 billion to build a silicon carbide super manufacturing plant, which will increase the manufacturing capacity of silicon carbide wafer by 30 times to meet the expected market growth in 2024.

It is reported that silicon carbide technology is extremely difficult, with conductive and high-purity semi-insulation technology, the size of 2-6 inch manufacturers worldwide only four, and Shandong Tianyue is one of them.

In addition, Jetwater is known in the industry as

For another example, the sound surface filter products produced by Haoda electronics are mainly used in the field of mobile phones and base stations, just involving Huawei's two main businesses.

There are reports that 5 G+4 G global communications may need to support more than 90 bands, and a frequency band usually requires two filters, which also means that a future 5 phone may need hundreds of filters, the current 4 G phone needs to use about 30 filters.

It is understood that Skyworks, a rival to the electronics company, is the main provider of HUAWEI RF. Its second largest source of revenue is mainland China, accounting for 25.4% in fiscal 2018, and 22.1% in the first half of 2019.

However, the ability of Haoda electronics to replace skyworks is very limited. At present, it can only be used as a medium and low-end acoustic surface filter, and there is a big gap with skyworks in high-end products. In addition, due to the large number of models of low and medium end acoustic surface filters, the extent to which the replacement of hadron electronics can be achieved is still uncertain.

Some chip industry watchers have told tiger sniff about the significance of these companies to Huawei that, while it's impossible Huawei rely on them to make a full-scale home-grown alternative at once, their presence can at least be Huawei now

Big companies need to do big business

And in 2019,Huawei started working on chips

Up to now, Huawei's Hisilicon has launched a variety of chip products, covering many product lines such as mobile SOC, baseband chip, base station chip, AI chip, server chip, video monitoring chip, Nb IOT chip, etc.

According to the data, in 2019, Hayes was not only among the top 10 semiconductor companies in the world for the first time, but also ranked first in revenue growth. In the first quarter of this year, Kirin chip is the first super Gaotong Xiaolong ranked first in the domestic market share.

But at the end of the day ,Huawei's only one

How does Huawei balance its investment company with its own business?

The companies that Hubble has invested in have something in common, says a senior chip industry practitioner who is reluctant to be named:

First, the market scale of the field involved is very small, but it is also indispensable for the chip industry;

Both have the key technology in their own field or can replace the technology provided by foreign manufacturers;

The three areas are all areas Huawei does not want to do, which is also the most important point.

Optical devices, for example, are the core components of the chip, and the performance limitation of optical products is usually an obstacle to the innovation of network and switching equipment.

Nowadays, optical devices are becoming an increasingly large part of the material list of optical transmission equipment, switches and routers. On the other hand, the main problem of optical device and module industry is that it is only a small part of a very large industry.

Haoda electronics is one of the few domestic companies that can partially replace skyworks in technology and products.

On the third point, a person close to Huawei said that the standard of doing things has always been to make a big market, big business. For example, in the vertical scene in the chip field, mobile phones, servers and security demand for chips is very large, the market space is also very potential.

In addition, as mentioned above, most of the enterprises invested by Hubble will get orders from Huawei. It can be said that if these enterprises develop, they are supported by Huawei in the early stage.

Sometimes it's not an advantage to rely on big trees, because there are certain risks in such enterprises, that is, what Huawei can give or take away at any time. Cambrian is a good precedent.

But the difference between the invested enterprises and Cambrian is that Huawei's current chip product line does not conflict with them, and Cambrian IP chips can be replaced by hisilic chips. In fact, it can be seen from this that Huawei only ordered orders for Cambrian before, but did not invest in it.

And so, at a deeper level, the area of hubble's investment represents, to some extent ,Huawei non-touch business.

It's no exaggeration to say that every move of Hubble investment affects the hearts of semiconductor industry and investment institutions.

But when Tiger asked about the changes that Hubble's year-old investment has brought to the investment or semiconductor industry, several investors turned down or simply responded

Later, a person familiar with the matter told tiger sniff,

Why do you believe Huawei's choice and judgment? The person further explained that, unlike ordinary investment institutions, Huawei invests in enterprises not only for money, but also for orders and talents.

Taking the upcoming stock market as an example, in its prospectus, we can clearly see,

In addition, customer a began to purchase from srip in 2018 and began to invest in 2019. The products purchased are mainly signal chain analog chips, which are key components of 5g base station.

Smart people can see that Huawei is the only thing that makes such large-scale demand and large-volume purchases, even if the prospectus doesn't specify the A of customers.

Some insiders said that this is not the case in the companies invested by Hubble. Conservatively speaking, at least 90% of the invested enterprises have received orders from Huawei.

In terms of talent, Hubble's most recent investment

This approach is not the same as the original rules of investment institutions in the field of semiconductors, but similar to Alibaba, Tencent, Baidu and other large Internet companies.

Generally speaking, investment institutions will pay attention to two main investment projects of hard technology: one is the background of the founders; the other is the core technology advantages. Secondly, we can judge according to the industry development and capital situation. In addition to considering the above points, bat will also integrate with its own business development and technical short board.

According to Chinanet, the process of Huawei's foreign investment is generally: after the business department finds that the technology a company possesses helps its business, it submits the subject matter to the enterprise development department, which will investigate and evaluate it and then submit it to the executive board for decision-making.

And it's worth mentioning whether it's Huawei pre-investment practices or follow-up

And it's also seen as Huawei.

In fact, before the establishment of Hubble, Huawei had a principle: no data, no application, no investment. So the establishment of Hubble investment represents that Huawei is breaking the principle in the cruel reality. It is not only its own, but also the industry's. after all, it is indestructible.

It should also be acknowledged that Hubble investment has been actively engaged in the chip industry, which also plays a significant role in promoting the development of domestic chips.

If the capital injection of some funds and investment institutions has taken domestic chip companies on the road, Hubble has invested in money, giving orders a rough way to get them on the road.

Of course, in the semiconductor industry, Huawei can do very limited in chip technology.

In its latest briefing, IC insights, the U.S. Market Research Institute, suggested that unless there is a mutation, the scale of China's domestic integrated circuit industry by 2025 might be only one-third of the 2025 target. This kind of industrial development speed is not enough to ensure the independent control of information technology industry.

For a long time, semiconductors have always been the key point of competition among big countries. At present, the chip industry is facing the limit of Moore's law. Who can break through the barriers first and who will bring variables to the international semiconductor industry. In addition to the United States, countries are looking forward to changes in the competitive landscape of the semiconductor industry.

There is no doubt that America

华为和他的“备胎”大军们

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