According to, the Dongxihu District Government of Wuhan City disclosed in the document “economic operation analysis of investment and construction in Dongxihu District in the first half of the year” released on July 30 that the Hongxin project in Wuhan has a large capital gap and faces the risk of project stagnation due to the broken capital chain at any time, reported. < p > < p > Wuhan Hongxin semiconductor manufacturing project is divided into two phases, with a total investment of 52 billion yuan. The project was started in early 2018 and the main structure of the plant was capped in July 2019. The phase II investment is 76 billion yuan. The project was started in September 2018 and is currently under construction. The total investment of Hongxin two phases is 128 billion yuan. By the end of 2019, the accumulated investment has reached 15.3 billion yuan, and the investment amount is expected to be 8.7 billion yuan in 2020. < / P > < p > after nearly three years of operation, the remaining 112.3 billion yuan of investment is difficult to declare this year. At present, the project is basically stagnant. Due to the large capital gap, Hongxin is facing the risk of capital chain fracture at any time. The remaining 112.3 billion yuan of investment is difficult to declare this year, and the project is basically stagnant. Due to the large capital gap, Hongxin is facing the risk of capital chain fracture at any time. However, with the global outbreak of the epidemic and the lack of confidence in the global market, the investment field in our district (Wuhan East Lake District) is still facing many difficulties. < p > < p > 1. Wuhan Hongxin semiconductor manufacturing project is a major project in our district. At present, the main production plants and R & D buildings (with a total construction area of 390000 m2) in the first phase of the project have been capped or completed. < p > < p > more than 300 sets of equipment in the first phase of the production line are being ordered and entered the factory successively. ASML high-end lithography machine, the only core equipment that can produce 7-nanometer chips in China, has been put into production. However, there is a large fund gap in the project, which will lead to the risk of project stagnation due to the rupture of the capital chain at any time. < / P > < p > the second phase of land use has not been completed. Due to the lack of land, EIA and other supporting materials, the project could not be reported to the national development and Reform Commission for window guidance, leading to the National Semiconductor fund and other equity funds could not be imported. < p > < p > Wuhan Hongxin was established in November 2017 with the goal of building an advanced “integrated system” production line for domestic semiconductor logic process and wafer level packaging, with a strong intellectual property IP design team, and boosting the comprehensive popularization of 5g and AI with innovative business model. < / P > < p > after the State Council issued the national integrated circuit industry development promotion outline in 2014, China once again started the upsurge of integrated circuit industry development, and many governments have given preferential policies for semiconductor enterprises. Hongxin semiconductor manufacturing industrial park is a key investment project in Wuhan and Hubei. In 2018, Hongxin semiconductor manufacturing Industrial Park ranked first in the municipal major projects under construction in Wuhan in 2020, and the total investment was the first. Meanwhile, Hongxin project in 2018 and 2019 is also a provincial key construction project in Hubei. < / P > < p > in 2019, Jiang Shangyi, who has been working in TSMC for many years in 1997, joined Hongxin as CEO of Hongxin, which attracted much attention. At the end of the same year, Hongxin held a ceremony to enter the factory for the first ASML lithography machine, which aroused attention again. The ASML lithography machine of Hongxin is known as “the only one in China that can produce 7Nm chips”. However, some people in the industry say that this model of 1980 can’t make 7Nm. According to the data on Hongxin’s official website, the total investment amount of the project is 20 billion US dollars, actively catching up with the advanced semiconductor process technology from 14nm, 7Nm, 5nm to 3nm, and has built a wafer level advanced packaging production line. < / P > < p > before Jiang Shangyi joined in mid-2019, Wuhan Hongxin was once regarded as the “most mysterious” semiconductor project in China. Many operation policies were really anchored after Jiang Shangyi joined, including R & D of 14nm / 7Nm and development of chiplet. Before the admission ceremony of Hongxin ASML lithography machine, Hongxin’s official website issued a statement in November 2019, which said: Recently, some Internet portals and we media platforms have published or reprinted news about “the land value of 75 million yuan is sealed up, Wuhan Hongxin phase II project may be blocked”, “the” project fund “regeneration incident, Hongxin semiconductor land is sealed up!” and other news, which have affected our company In the supplier, the management side, the bank and so on cooperation unit image. In November 2019, Wuhan intermediate people’s Court of Hubei Province sealed up more than 300 mu land use right of Wuhan Hongxin Semiconductor Manufacturing Co., Ltd. for three years and immediately implemented. The total planning land area of the project is 636 mu, and more than half of the land area is seized this time. < / P > < p > although Hongxin said that it had not defaulted on the project payment of the general contractor, the risk of its capital chain has gradually emerged. Tianyan data shows that Wuhan Hongxin will just enter the site with TWINSCAN on January 20, 2020 NXT:1980DiASML The lithography machine was mortgaged to the Dongxihu branch of Wuhan Rural Commercial Bank Co., Ltd., with the status of “brand new and not yet put into use”, and the evaluation value was 581.086 million yuan (581 million yuan). Wuhan Hongxin originally planned to purchase 3560 sets of equipment. However, since the first photolithography machine came into operation, Wuhan has unfortunately become a severe disaster area of Xinguan epidemic. From January 23, 2020, the city was closed for 76 days, and the ban was lifted on April 8. Wuhan enterprises were greatly hit, and the news that Hongxin’s funds were not in place as scheduled began to appear. According to a report by voice in June, it was reported that the funds of Wuhan Hongxin were not in place as scheduled. In addition to the resignation of some employees, it was even reported that CEO Jiang Shangyi was tired and diligent. He also said that Jiang Shangyi responded that others were in Wuhan, but he was not willing to talk about it. He only said that the company had some problems to be solved. In a statement issued a week later, Hongxin said, “in 2020, Hongxin has entrusted any media to release its news and has not accepted any media interviews. The recent negative reports about Hongxin are untrue or inaccurate. It is a small number of people with ulterior motives who are deliberately spreading rumors and misleading public opinion. ” < / P > < p > in half a year, Hongxin’s two statements denied that there were problems in its capital chain, and we could not come to the final answer. However, it is worth noting that Wuhan Hongxin has not been included in the list of Hubei provincial key construction plan in 2020. With the economic operation analysis of investment and construction in Dongxihu District in the first half of the year, which was released on July 30 at the beginning of the article, what is the future of Hongxin? After the policy of the State Council was issued in 2014, many cities, including Shanghai, Shenzhen, Nanjing, Wuhan, Hefei, Chengdu and Guiyang, are laying out the chip industry with heavy money and striving for national resources. A report from the International Semiconductor Industry Association (semi) also pointed out that China will have the largest number of new or planned chip factories in the world from 2020 to 2021. The integrated circuit industry is a high-tech threshold, capital intensive and talent intensive industry. In addition to these conditions, it also needs specific opportunities. Therefore, the development of integrated circuit industry needs to be rational in any case, otherwise it will bring huge losses. < / P > < p > it took only five years from its establishment to bankruptcy to become China’s first IDM semiconductor company, Deco code (Nanjing), together with today’s Hongxin, is a sobering agent for the development of China’s integrated circuit industry. Global Tech