The Study On Financing Methods By Semi Companies

According to China government's eleventh Five-Year Plan, the development of IC enterprises is a very important step for the further economy development. In 2000, the State Council also issued Paper No. 18, which highlighted the government's determination to provide great support on enterprises with privileged IC design technology and production capabilities. Thanks to these policies, the semi companies met good opportunity for development in China, but they confront necklace today due to demanding on huge amount of capital, which is the nature of the industry. By means of analyzing China's semi companies'current financing situation, a case study on SMIC and referring oversea industry financing experiences, the dissertation analyzes financing methods by semi companies and their applications in China, proposing a solution as of developing a nationwide investment and financing platform for semi companies.The dissertation is composed of six parts. The first part explains the intention and the target; the second part discusses key points considered during making a financing strategy by theory study, such as cost, risk and capital structure, and the impacts of financing on a company's development; the third part looks into the ways of financing by China's semi companies; the fourth part introduces the experience of oversea semi companies, and the idea comes to the peers in China; the fifth part is a case study on financing methods of SMIC, the implementation and impacts, by means of looking through the strategies adopted in three stages; the last part brings forward advice for building a systematic financing platform for China's semi companies, and some idea for action.