Source: Content
: compiled from Economic Daily and China Business Times
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Yesterday, IC design company VIA held a press conference to announce important news. Its board of directors decided to sell part of its wholly-owned subsidiaries VIABASE CO., LTD and VIATECH., LTD., related technologies, data and other intellectual property rights (excluding patents) to Shanghai Zhaoxin, in which VIA indirectly holds a total of 14.75% of the shares. The estimated profit from the disposal is US$197 million (approximately NT$5.663 billion). Based on VIA's existing share capital of 4.933 billion yuan and the exchange rate of 1 US dollar to NT$28.71, the estimated contribution to net profit per share is NT$11.49.
VIA pointed out that its wholly-owned subsidiaries VIABASE CO., LTD. and VIATECH CO., LTD. sold some chipset product-related technologies, data and other intellectual property rights (excluding patents) to Shanghai Zhaoxin Integrated Circuit Co., Ltd., which indirectly holds a total of 14.75% of the shares. The transaction amounts were US$139 million and US$118 million, respectively. The estimated combined after-tax disposal profits are approximately US$107 million and US$90.85 million, equivalent to approximately NT$5.663 billion.
VIA further stated that due to VIA's significant influence on Shanghai Zhaoxin, the elimination of unrealized profits based on its 14.75% shareholding is expected to be US$18.44 million and US$15.72 million respectively.
VIA Chairman Wen-chi Chen said that VIA and Zhaoxin have a considerable degree of cooperation and have discussed this resolution for a long time, and will continue to cooperate in the future; as for the de-beautification effect, Chen Wen-chi responded that they will continue to observe because the entire market has changed a lot.
Since the VIABASE CO.,LTD sold to Shanghai Zhaoxin this time contains processor technology, which was provided by VIA's US processor R&D subsidiary CENTAUR, Chen Wenqi pointed out that CENTAUR will continue to develop processor products in the future, so it will not be affected by this intangible asset sale.
Regarding this transaction, Chen Wenqi pointed out that this move will be beneficial to the future cooperation between Shanghai Zhaoxin and VIA in the development of processors, chipsets and other products. As for what kind of product development will be carried out, it is not convenient to disclose it at present. Legal persons believe that since China is actively de-Americanizing and hopes to have the ability to develop processors and chipsets, the sale will be expected to strengthen Shanghai Zhaoxin's layout in the PC and server markets.
Legal persons pointed out that VIA's current operational focus has shifted from the PC market to the artificial intelligence (AI) market. The Internet of Things and self-driving cars are all current operational projects that VIA is focusing on. Therefore, after this intangible asset transaction, VIA's role in the PC market will be further diluted.
Industry insiders believe that China is currently making an all-out effort to achieve semiconductor self-manufacturing, hoping to gradually reduce its dependence on U.S. semiconductor products. The processor market is a key area that the Chinese government has targeted, and it has provided large subsidies for related research and development projects in an effort to create its own processors.
Looking at the major processor architectures on the market, they are still mainly x86, ARM and RISC-V. The PC and server markets are mostly dominated by the x86 architecture. In addition to PC giants such as Intel and AMD, VIA is the only manufacturer with the ability to develop x86 architecture processor products. Therefore, VIA's decision this time is expected to gradually improve Zhaoxin's operations.
Analysts are optimistic that as Zhaoxin's operations gradually improve, VIA will also benefit in terms of licensing intellectual property (IP).
*Disclaimer: This article is originally written by the author. The content of the article is the author's personal opinion. Semiconductor Industry Observer reprints it only to convey a different point of view. It does not mean that Semiconductor Industry Observer agrees or supports this point of view. If you have any objections, please contact Semiconductor Industry Observer.
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