Over 230 listed companies related to integrated circuits and software share the policy warm wind
Moderator Liu Sihui: A few days ago, the "Policies for Promoting the High-Quality Development of the Integrated Circuit Industry and Software Industry in the New Era" issued by the State Council proposes to vigorously support qualified integrated circuit companies and software companies in listing and financing domestically and abroad, and speeding up domestic listing During the review process, R&D expenditures that meet the relevant conditions of the Accounting Standards for Business Enterprises can be capitalized. Today, this paper sorts out the specific situation of my country's support for the integrated circuit industry and software industry from the aspects of capital, finance and taxation, and interviews senior experts and scholars in the industry for in-depth interpretation.
Our reporter Liu Qi
A few days ago, the State Council issued "Several Policies to Promote the High-quality Development of the Integrated Circuit Industry and Software Industry in the New Era" (hereinafter referred to as "Several Policies"). The "Several Policies" propose to vigorously support qualified integrated circuit companies and software companies to list and raise funds at home and abroad, speed up the domestic listing review process, and capitalize R&D expenditures that meet the relevant conditions of the Enterprise Accounting Standards. Encourage and support qualified companies to list and raise funds on the Sci-tech Innovation Board and ChiNext, and smooth the exit channels for the original shareholders of related companies. Provide equity financing, equity transfer and other services for integrated circuit companies and software companies at different development stages through different levels of capital markets, expand direct financing channels, and increase the proportion of direct financing.
Stimulated by favorable industrial policies, the A-share IC sector rose across the board on August 5. Among them, the daily limit of Big Dipper and National Technology. "Investment and financing, research and development, talents and other supporting policies have been issued to further optimize the long-term development environment of integrated circuits." Chen Li, director of the Sichuan Finance Securities Research Institute, told a reporter from the Securities Daily.
Over 230 A-share related listed companies
According to Wind data, there are currently more than 60 IC-related companies in A-share listed companies, with a total market value of more than 2.9 trillion yuan (data as of August 4, the same below), accounting for more than 4% of the total A-share market value. Among them, the number of equipment-related companies accounted for 14.29%, and the market value accounted for 10.88%; the number of materials-related companies accounted for 19.64%, and the market value accounted for 9.94%; the number of design-related companies accounted for 35.71%, and the market value The proportion is 32.94%; the number of manufacturing-related companies is relatively small, but the market capitalization is relatively large, reaching 22.98%; the number of packaging and testing related companies accounts for 10.71%, and the market capitalization accounts for 9.43%; the number of compound semiconductor-related companies It accounts for 12.50% and the market value accounts for 13.83%.
According to Wind statistics, there are currently more than 170 software-related companies in A-share listed companies, with a total market value of more than 2.7 trillion yuan, accounting for 3.8% of the total A-share market value. Among them, the number of application software accounted for 48.88%, and the market value accounted for 65.35%; the number of information technology consulting and other service software accounted for 41.01%, and the market value accounted for 27.39%; other types of software (including financial service software, data Processing software, system software, etc.) accounted for 10.11%, and market capitalization accounted for 7.26%.
"Based on the above data, it can be seen that the market value of design and manufacturing companies in domestic A-share integrated circuit companies is relatively large." Li Zhan, chief economist of Zhongshan Securities, told the "Securities Daily" reporter. On the whole, Domestic software is mainly application software, which is relatively insufficient in the field of basic software.
Pan Helin, executive dean of the Digital Economy Research Institute of Zhongnan University of Economics and Law, analyzed to a reporter from the Securities Daily that A-share listed companies are mainly chip packaging and testing companies, while integrated circuits and other companies are relatively scarce. As for software companies, my country is relatively strong in games and Internet application software, but relatively lacks in tool software. In recent years, China’s game industry products have been sold globally, and Internet application software is also quite developed. In terms of tool software, our country focuses on management, such as WPS, Glodon, etc. China’s software shortcomings are in productivity tool application software, such as 3D modeling, mathematical software, streaming media production software, etc.
Support domestic and overseas listing and financing of relevant companies
Pan Helin said that the purpose of this policy is to promote the overall development of the entire industry. Foreign and domestic, state-owned and private integrated circuit and software industry participants will usher in the great development of the chip and software industry. But specific to the industry, competition still exists. Under the rush of technological competition, the technological strength of some enterprises may also be tested. Therefore, it is a good thing for industry leaders and companies with technical barriers and scale advantages in the industry; other companies that have no threshold and pure capital games will be eliminated.
Li Zhan believes that for companies, the "Several Policies" policies encourage and support the integration of integrated circuit companies and software companies' resources, and reorganization and mergers of companies based on market-oriented principles. On the one hand, support integrated circuit companies and software companies to list at home and abroad, speed up the domestic listing review process, and increase the proportion of direct financing; on the other hand, encourage local governments, commercial financial institutions, etc. to support the development of integrated circuit companies and software companies, and expand financing channels . In general, with the introduction of this policy, financing channels for integrated circuit companies and software companies will be further smoothed, which will help accelerate the expansion and development of related companies.
"On the one hand, this policy provides support in terms of research and development, talents, intellectual property rights, etc., which will help stimulate the R&D and innovation capabilities of relevant companies in the industry, promote the industry to achieve independent innovation and development, and enhance the industry's technological innovation strength; on the other hand, Policies encourage industry mergers and acquisitions and integration, and promote the integration of industry resources, which is conducive to nurturing the world's leading industry leaders in related fields, enhancing the global competitiveness of the industry, and promoting the growth and development of related industries." Li Zhan said, with the implementation of the "Several Policies" Implementation, the domestic integrated circuit and software industry is expected to further accelerate the development, industry shortcomings are expected to gradually break through, and the global competitiveness of related industries is expected to increase significantly. (Securities Daily)