【转】中国企业收购美光科技可能导致DRAM供过于求
第一页，共两页Title：Acquisition of Micron by Chinese group could lead to DRAM oversupply
From:http://www.kitguru.net/components/memory/anton-shilov/acquisition-of-micron-by-chinese-group-could-lead-to-dram-oversupply/
Financial analysts believe that the rumoured takeover of Micron Technology by China-based Tsinghua Unigroup could lead to a major change of Micron’s policies in regards of expansion of production capacities. If Tsinghua acquires Micron and starts to build new fabs to gain market share, this could result in oversupply of DRAM and potentially NAND. However, this may not be a problem for Tsinghua.
金融人士分析认为，美光科技的收购传闻是中国企业清华紫光主导的，旨在改变美光的政策来扩大产能。如果清华紫光收购并开始建造新的晶圆厂来获得更多的市场份额，则可能会导致DRAM出现供过于求的局面，NAND可能也难以幸免。然而，这可能不是清华的问题。
The reasons why government-controlled Tsinghua Unigroup may want to acquire Micron are clear: China needs manufacturing technologies to produce dynamic random access memory and NAND flash; the country needs research and development as well as patents to design fabrication processes for various memory types; Chinese makers of consumer electronics and application processors need stable supply of DRAM and NAND; China needs to build a highly-integrated semiconductor industry and memory will be an important part of it.
为什么国有的清华紫光会想要收购美光？原因很清楚：中国需要制造DRAM和NAND闪存的技术；国家需要研究开发和对对各种存储器的专利设计的制造工艺；中国的消费类电子产品和应用处理器需要合适的DRAM和NAND；中国需要建立一个高度集成的半导体行业，内存会成为重要的组成部分。
At present over a half of all computer memory ICs are produced in South Korea. The rest of the chips are manufactured in the U.S., Japan, Singapore and Taiwan.
目前，所有的计算机存储器的集成电路一般都产自韩国。剩下的芯片都分散在美国、日本、新加坡、中国台湾制造。
While S. Korea-based Samsung Electronics and SK Hynix are gradually expanding DRAM production capacities, Boise, Idaho-based Micron, which has operations in the U.S., Japan, Singapore and Taiwan (through its partner Inotera), limits expansion of DRAM production capacities in a bid to retain supply and demand balance to ensure favourable memory prices and profitability of suppliers.
而来自韩国的三星和SK海力士正在逐步扩大DRAM的产能，位于爱达荷州博伊西的美光在美国、日本、新加坡、中国台湾（通过合作伙伴华亚）都有操作处，限制DRAM的产量力图保持供需平衡来确保较好的内存价格和供应商盈利能力。
According to Joseph Moore, an analyst with Morgan Stanley, acquisition of Micron Technology by Tsinghua Unigroup could lead to amendment of the policy and expansion of capacities to gain market share. Oversupply of DRAM will negatively affect prices and profitability of memory producers.
根据摩根士丹利的分析师约瑟夫·穆尔，收购美光科技的清华紫光可能会修改政策并扩大生产能力来获得市场份额。DRAM的供过于求局面会对价格和生产内存的盈利能力产生负面影响。
“We think that Chinese sovereign investment in Micron would be a substantial negative for longer term memory supply and demand, as it would likely lead to a high level of Chinese investment in new facilities,” wrote Mr. Moore in a note to clients, reports Tech Trader Daily. “The history of sovereign investment in semiconductors in Japan, Korea, and Taiwan has generally included a period of oversupply while those regions were investing in getting to scale.”
“我们认为中国向美光的独立投资会对内存供求关系产生一个长期的实质性负面影响，因为这将会有可能导致中国投资新的高科技设施（老外怕了吧→_→）“穆尔在一份给客户的每日高科技交易信息报告中写到：”在日本、韩国和台湾的半导体独立投资的历史证明通常都会出现一段供过于求的历史，而在这些区域进行投资能够获得规模效应。“
While low prices of DRAM could negatively affect Tsinghua itself, it could compensate lower revenue and profits by selling highly-integrated system-on-chips containing application processors developed by Spreadtrum Communications and RDA Microelectronics (two fabless semiconductor companies it controls), DRAM and NAND to makers of consumer electronics (e.g., smartphones, tablets, various Internet-of-Things devices and so on). Sophisticated SoCs are sold at premium prices, eliminating risks for their producers.
虽然DRAM的降低会对清华紫光产生负面影响，但是他可以通过补偿低收入产品并出售高集成度的系统及芯片（包括由展讯通信和锐迪科微电子（两家都没有制造半导体的晶圆厂）开发的应用处理器），DRAM和NAND来制作消费类电子产品（比如智能手机、平板电脑、物联网设备等）。高级点的SoC都以高价卖出来降低生产风险。
Creating a vertically-integrated chip house with application processors, DRAM, NAND, CMOS sensors, specialty memory technologies, capacities to produce solid-state drives and other products as well as retail operations could make a lot of sense.
建立一个立体的芯片工厂和应用处理器、DRAM、NAND、CMOS传感器，生产固态硬盘的专业存储技术、容量，以及零售业务是很有意义的。
Micron and Tsinghua Unigroup did not comment on the news-story.
美光和清华紫光都没有就此报道发表评论。
KitGuru Says: Samsung has everything it needs to make solid-state drives in house and it currently controls around 45 per cent of the market. The South Korea-based conglomerate also makes the vast majority of components for its smartphones in-house. At present, Samsung is the world’s largest maker of handsets. If the plan is to create a corporation comparable to Samsung, then acquisition of Micron is a good start.
网站点评：三星有制造固态硬盘的全套硬件，他控制了45%的市场。在韩国的企业当中，零部件也大部分用在生产本土品牌的智能手机。目前，三星是全球最大的手机制造商。如果这个收购计划是打算创建一家媲美三星的公司，那么收购美光科技是一个良好的开端。
第二页，共两页
Title：Chinese group could acquire Micron to boost local memory industry
From:http://www.kitguru.net/components/memory/anton-shilov/chinese-group-could-acquire-micron-to-boost-local-memory-industry/
Tsinghua Unigroup, a China-based investment company that controls Spreadtrum Communications and RDA Microelectronics, reportedly wants to acquire Micron Technology, the world’s third largest maker of DRAM and the No. 4 maker of NAND flash. China may need Micron in a bid to boost its homegrown memory industry and secure supply of DRAM and NAND to local makers and chip developers.
简翻：清华紫光想要收购DRAM占有率第三，NAND占有率第四的美光科技。
Tsinghua Unigroup reportedly wants to offer $23 billion for Micron Technology, reports Bloomberg news-agency. Shareholders of Micron will get $21 a share, or about 19 per cent more than Monday’s closing price in New York Stock Exchange. While 20 per cent premium is typical for this kind of deals, the price of Micron’s stock is 40 per cent below its price earlier this year, which means that at least some shareholders may not want to sell the company right now.
彭博社说，清华紫光开价230亿。美光科技公司的股东将每股获益21刀，大约是纽交所股票周一收盘价的19%。虽然增值20%实在此类交易中非常典型的，但是美光科技的股票价格是年初的40%，所以有部分股东不希望现在出售公司。
The transaction would be the largest acquisition of a foreign manufacturer by a Chinese company. The Chinese government intends to spend about $161 billion on development of the country’s semiconductor industry over the next five to 10 years, according to consulting firm McKinsey & Co. It is inevitable that Chinese companies will make large acquisitions going forward.
这将成为中国收购外国制造商的最大一笔交易。中国政府打算斥资1610亿来发展半岛以产业，在未来的5~10年，中国企业的收购将大步迈进（麦肯锡公司咨询公司认为这将无法避免）
Although the vast majority of consumer electronics in the world is produced in China, actual semiconductors that power those devices are not made in the country. The lion’s share of microprocessors are made in the U.S., South Korea, Taiwan, Israel, Ireland, Germany or Singapore. Dynamic random access memory is produced in South Korea, Japan, the U.S., Singapore and Taiwan. NAND flash is manufactured in South Korea, Japan, the U.S., Taiwan and Singapore. While there are facilities that can make DRAM and NAND flash in China, the memory industry is greatly underdeveloped in the country.
略过，上篇有提到
In a bid to create its own DRAM and NAND industry, China needs manufacturing technologies, which are very expensive to develop. Moreover, to design fabrication processes, one needs research and development talent as well as patents, things that are hard to acquire.
中国力图打造自己的DRAM和NAND产业，发展会耗巨资。此外设计制造工艺需要研发人才和专利，这都很难得到。
In addition to Micron’s technologies, portfolio of patents and R&D operations, Tsinghua Unigroup wants its manufacturing capacities. Micron recently announced plans to consolidate its NAND flash business and concentrate on development of actual NAND-based products based on its own memory to improve profit margins, a move that could leave certain companies without flash memory supply. A large Chinese holding controlled by the government clearly does not want companies in the country to face shortage of NAND or DRAM, which is why acquiring Micron may make a lot of sense for it.
略过，上篇有提到
“This is the right move for Tsinghua because Micron has memory chip technology, which is very hard to develop,” said Gu Wenjun, chief analyst at iCwise. “But there is only a small possibility U.S. regulators will approve this deal because it has a very strict review over offers from foreign capital, especially China.
“这是一个正确的举动，因为美光有内存芯片技术，但是很难发展”，iCwise的首席分析师顾文君（音译）说：“但是美国监管机构批准这笔交易的可能性比较小，因为会进行对外国资本非常严格的审查，尤其是对中国。”
Micron said it has not formally received the proposal. Tsinghua Unigroup did not comment on the news-story.
美光表示，他们并没有正式收到该提案。清华紫光没有对该报道发表评论。
KitGuru Says: China needs technologies in a bid to build its own vertically-integrated semiconductor industry. While the U.S. government could block the deal with Micron, it will be a matter of time before Chinese will get their DRAM and NAND production processes. China’s Ministry of Industry and Information Technology (MIIT) established the National Integrated Circuitry Industry Investment Fund back in late 2014. The first project that the fund will support is development of local DRAM manufacturing processes at Wuhan Xinxin Semiconductor Manufacturing (XMC).
网站点评：中国想从技术方面入手打造半导体产业链。尽管美国政府可能阻止该笔交易，但是中国得到DRAM和NAND的生产流程只是一个时间问题。早在2014年底，工业和信息化部成立了国家集成电路产业投资基金，将支持武汉新芯集成电路制造厂（XMC）的第一个本地DRAM制造工艺项目。 意思是收购了就有白菜价咯 我能说：还特么不赶紧的！ gby4411 发表于 2015-7-15 11:25
意思是收购了就有白菜价咯 我能说：还特么不赶紧的！
{:6_170:}美国政府同意吗 包子侯爵 发表于 2015-7-15 11:29
美国政府同意吗
明天给奥观海打个电话，档内的事情还是要听的{:6_170:}
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