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Shanghai Silicon Industry (688126) disclosed on the evening of August 14 that its wholly-owned subsidiary Shanghai Xinsheng Semiconductor Technology Co., Ltd. (hereinafter referred to as "Shanghai Xinsheng") subscribed to public rental housing from Shanghai Lingang Industrial Zone Public Rental Housing Construction Operation Management Co., Ltd., and rented and sold the relevant housing to the company's employees in batches. Recently, after strict review by the company, two directors, supervisors and senior managers met the subscription conditions.

Securities Times e-company reporter noticed that Qiu Ciyu was among the two subscribers.

Some investors may be unfamiliar with the name Qiu Ciyun. However, Qiu Ciyun is well-known in China's semiconductor industry. He is a well-known outstanding professional manager who once led SMIC to turn losses into profits.

According to the announcement of Shanghai Silicon Industry, this transaction involves the company's director and president Qiu Ciyun and the company's vice president of finance and financial director Huang Yan. The two will subscribe to the public rental housing located at No. 1565, Yunduan Road, Nicheng Town, Pudong New District, Shanghai, with a total construction area of ​​273.39 square meters.

Looking at the map, there is a community called Yuyeyuan at No. 1565, Yunduan Road.

The property rights of the above-mentioned public rental housing were pre-registered in the name of Shanghai Xinsheng. After Qiu Ciyun and Huang Yan subscribed to the housing this time, they will sign the "Shanghai Public Rental Housing "Lease First, Sell Later" Contract" (hereinafter referred to as the "Contract") with Shanghai Xinsheng. According to the "Contract", the housing transfer registration procedures can only be handled after 10 years from the date when Shanghai Xinsheng obtains the pre-sale license for the public rental housing project and the subscribers have continued to serve Shanghai Silicon Industry for the agreed period of time after signing the "Contract". The real estate transaction price is based on the price when Shanghai Silicon Industry obtains the property rights of the house and is determined by the Shanghai Xinsheng Housing Management Committee.

A few years ago, Shanghai Lingang took the lead in launching a public rental pilot model of "rent first, sell later" in Shanghai, opening up specific rental and sales businesses to enterprises and institutions stationed in the Lingang New Area. According to the plan, public rental housing projects can be listed as stock commercial housing 10 years after completion, and lessees can purchase them first, aiming to stabilize the talent team of enterprises and solve the housing problems of innovative, management and skilled leading talents. This method is also interpreted by the outside world as: lessees "live in new houses ten years in advance."

Including Shanghai Silicon Industry, many companies in the Lingang area of ​​Shanghai have rented apartment buildings to provide accommodation for employees. According to Shanghai Silicon Industry's regular report, as of the end of 2021, the company recognized a total of 109 million yuan in financial leasing receivables for providing public rental housing to employees on a rent-to-own basis; as of the end of 2022, the company recognized 98.6287 million yuan in financial leasing receivables for providing public rental housing to employees.

In the view of Shanghai Silicon Industry, the company rented and sold public housing to Qiu Ciyun and others in order to attract and retain outstanding talents, enhance employees' sense of belonging to the company, and improve employee cohesion and work enthusiasm.

For Shanghai Silicon Industry and even China's semiconductor industry, Qiu Ciyun is indeed an "outstanding talent".

Chiu Tzu-Yun was born in April 1956 and is a native of Taiwan Province, China. According to media reports, Chiu Tzu-Yun went to the United States to study after graduating from high school in 1974. He entered the earliest engineering university in the United States, the private Rensselaer Polytechnic Institute, to study for his undergraduate degree. After graduation, he transferred to the University of California, Berkeley, and received a doctorate in electronic engineering and computer science from the university in 1983. In 1984, Chiu Tzu-Yun entered Bell Labs in the United States to engage in semiconductor research and development. From 1984 to 1996, Chiu Tzu-Yun worked at Bell Labs for 12 years. From 1996 to 2001, he served as senior director of operations at TSMC.

In 2001, Qiu Ciyun joined SMIC at the invitation of SMIC founder Zhang Rujing. From 2001 to 2005, he served as SMIC's senior vice president of operations. After that, he left SMIC and worked in companies such as Huahong International Semiconductor. In 2011, Qiu Ciyun returned to SMIC as CEO and insisted on maintaining high capacity utilization, deepening the local market, and leading the company on the road to profitability.

In 2012, China Youth Daily interviewed Qiu Ciyun. In the report titled "Qiu Ciyun: Let the 'Chinese Chip' Become the 'World Chip'", it said that humility and calmness could not hide his enthusiasm for China's semiconductor industry.

In May 2017, Chiu Tzu-Yun resigned as CEO of SMIC. During his nearly six years in office, SMIC's annual sales increased from about US$1.3 billion in 2011 to US$2.9 billion in 2016; during the same period, the company's market value also increased significantly. At the end of June 2018, Chiu Tzu-Yun resigned as a non-executive director of SMIC.

In May 2019, Qiu Ciyun became the general manager of Shanghai Xinsheng. Founded in June 2014, Shanghai Xinsheng is a domestic supplier of 300mm semiconductor silicon wafers on a commercial basis. Semiconductor silicon wafers are a large-volume basic material in the integrated circuit industry. Currently, 300mm silicon wafers have become the mainstream material for chip manufacturing. As of the end of last year, Shanghai Xinsheng's total production capacity of 300mm semiconductor silicon wafers has reached 450,000 pieces/month.

On April 20, 2020, Shanghai Xinsheng's parent company Shanghai Silicon Industry landed on the Science and Technology Innovation Board. Only one week after listing, Shanghai Silicon Industry announced the appointment of Qiu Ciyun as the company's president. In June of the same year, he was elected as a director of the company. Under Qiu Ciyun's management, Shanghai Silicon Industry's performance has continued to rise. However, since last year, affected by factors such as cyclical adjustments in the semiconductor industry and the company's expansion, Shanghai Silicon Industry's performance has declined. In the first quarter of this year, the company lost 198 million yuan, a year-on-year decrease of 288.69%.

At the Shanghai Silicon Industry's first quarter 2024 performance briefing, Qiu Ciyun said that the company's gross profit decline was mainly due to the increase in depreciation and the pressure of price reduction caused by insufficient market demand. In general, customers are still in the stage of digesting inventory.

From 2021 to 2023, Qiu Ciyun received pre-tax remuneration of 5.1113 million yuan, 11.2856 million yuan and 12.9760 million yuan from Shanghai Silicon Industry. As of now, he directly holds 2.3333 million shares of Shanghai Silicon Industry, with a market value of about 35 million yuan.

Editor: Peng Bo

Proofreading: Wang Wei

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