For Yaweilang, the "small BABY ", Yan Chunhui has such an interpretation and expectation - "Always in the position of runner-up, with the attitude of the runner-up to look at the competition, there will always be the goal of catching up with the first. Have a mindful study and dare to surpass the mentality , the highest level of lighting business."
During the investigation of the LED industry in Zhejiang , Gao Xiao LED CEO Zhang Xiaofei and Yaweilang Optoelectronics President Yan Chunhui conducted a dialogue on the upstream industry. Here is the conversation section:
Zhang Xiaofei: Yaweilang is injected by Zheshang Capital. Zheshang is good at investment and management, and the team of Dr. Haigui has technology. This cooperation seems to be very pragmatic, but there will be conflicts of culture, ideas and management. How to balance in entrepreneurship management?
Yan Chunhui: In the final analysis, this is the difference between American education and Chinese business philosophy. The most prominent feature of the American team is the concept of teamwork. Several startups in the United States have a differentiated technical foundation and are achieved through cooperation with investors. The idea that domestic investors or bosses have not established a true partnership with the team is not clear or unclear. Without this foundation, it gradually evolved into a team that is only a partner or server of a business or boss, not a partner. This is one of the main reasons why China's LED industry technology management has not been in place for many years and has not been rapidly developed.
The team is the core force driving the development of the company. Whether it is a US investor or a Chinese investor, investors and teams must be integrated in their interests, and a true partnership must be established. The cooperation between Yaweilangâ€™s technical team and Zheshang is also based on this foundation. It is because of the consensus that the team will fully invest.
Zhang Xiaofei: The domestic talent training mechanism is inherently inadequate. Some high-end talents studying abroad will not be able to play in the domestic environment.
Yan Chunhui: This requires everyone to work together to create and maintain an atmosphere that encourages innovation, encourages teamwork, and encourages sharing of benefits. If you don't have a true partnership, it may not be able to get an egg. If it is, but not so optimized, it may not be able to develop into an ideal environment after the next two eggs, and it will also affect the development of innovative technologies.
The goal is clear, and the rewards you get from achieving this goal are clear. At the same time, everyone can get a continuous career development space in this environment, of course, will actively work hard to make this environment a virtuous circle.
We have established a new platform for Yaweilang. From the very beginning, we need the team to have a strong cohesiveness. At the same time, everyone knows their goals and knows that they are doing this as a career and have a high degree of enthusiasm. This thing is more than just work. Taking responsibility for this responsibility, on the one hand, is the interest, on the other hand, the sense of accomplishment brought about by achieving the goal, so that the team of the company will have something that is very close.
Zhang Xiaofei: Yaweilang acquired AXT's LED business unit and established the US Yaweilang Company. There are more R&D personnel reserves in the US, and relatively speaking, there is a relatively sound talent mechanism. Will Yaweilang not appear as a shortage of talent in the domestic counterparts, or go to Taiwan to dig people?
Yan Chunhui: Yaweilang has established a complete R&D platform in the United States, and R&D is built on a small-scale production platform. This is the most effective R&D method in the LED industry. We have a good training mechanism for technical talents. The technical team in Haiyan is the earliest experienced senior technician involved in the LED field, with nearly 40 core employees.
Yaweilang's talent system is sufficient to achieve the world's leading products. We believe that the existing technology is still ahead of Taiwan, so there is no need to dig people in Taiwan. In addition, it is not only Taiwanese technicians who can solve the LED problem.
Zhang Xiaofei: But from the overall talent reserve, even if it doubles the production capacity, Yaweilang can deal with it?
Yan Chunhui: Whether it is extension or chip technical talent, in a complete system, even people with limited experience can quickly grow up in this system, and at the same time, we have more than one experienced instructor to quickly Help everyone improve their experience.
Moreover, Yaweilang implements the equity incentive system, the founding team has equity, and the subsequent technical human rights enjoy the options. These are all set up according to the norms of listed companies, and investment partners are required to do so. In addition to some competitive wages and benefits for our employees, our incentives even have some housing subsidies. We also have options, profit sharing, rewards for progress through performance, and patent building. Applying for a patent and approving a patent will have a large-scale award, encouraging everyone to invest the greatest power in technological innovation and intellectual property.
Zhang Xiaofei: In terms of patents, what obstacles does Yaweilang have or has its own patent reserves?
Yan Chunhui: In the patent layout, the patents we applied for are all global. Yaweilang's patents are mainly divided into two levels: one is our earlier patents, acquired through acquisition and strategic cooperation. The patents here include epitaxy, chips, packages and even TV backlighting modules and lighting. Nor does it mean that we have to do these downstream products, but we have a patent reserve. Can be used to work with our partners, and even help our back-end partners to strengthen their patents, if they are not enough we can support.
Zhang Xiaofei: Yaweilang's technology comes from years of accumulation in foreign countries. Does Yaweilang have a research and development team in the United States, does it mean that there is the most advanced technology in the world? What is the comparison with CREE and Philips Lumileds?
Yan Chunhui: The answer is yes. Yaweilang has the most advanced technology in the world. People in the semiconductor industry know that the most abundant R&D resources are in the United States, and the gap between China and the United States is still huge. Yaweilang has US R&D resources and first-class R&D talents, which is the best way to promote products and technology. The United States is not only the base of research and development of Yaweilang, the base of talents, but also the base for the global market.
Zhang Xiaofei: This year's epitaxial investment seems to be even hotter. Engage in real estate, mining coal mines, logistics, and socks. They are all rushing into the LED upstream, and dozens or even hundreds of MOCVD plans. How do you think about this phenomenon?
Yan Chunhui: Yaweilang will not blindly follow the trend, but will expand production at a moderate speed. It will not be like some enterprises, and it will not expand like some enterprises. Yaweilang's expansion is based on two factors: First, it is the judgment of the development of the existing market, including the development trend of the backlight and lighting market that was met in the United States some time ago. We have our own market positioning and have our own. Second, based on the technical capabilities of Aweilang, we will predict to what extent the technology products will be upgraded at a certain stage, and how much share some new products can occupy, so that the production capacity can be allocated to the existing market. In the space.
Zhang Xiaofei: According to the research of Gaogong LED, in 2011, the LED chip market will enter the price competition, the price will fall by an average of 30%, and the low-end products will even fall by more than 50%. The LED market will likely become a hot competition. Due to the decline in the price of the chip due to changes in the supply market, the input and output of the Yaweilang plan will have an impact on the profit forecast and marketing strategy. Of course, it depends on which areas you enter, and has a lot to do with the product line. If the price is cut, will it impact Yaweilang?
Yan Chunhui: This macroscopically, it will have an impact on all chip manufacturers. This impact can be foreseen every year. This is also an inevitable phenomenon of the healthy development of the industry. It is through the continuous decline in prices that the LED application market can be expanded to be healthy and strong. Implementation of each company will have different countermeasures: some rely on expanding production capacity, through scale to enhance and maintain profit margins; some rely on improving the yield or reduce costs; some improve the performance of products through technological improvements, Increase the output value of the product itself. However, the magic weapon forever in the high-tech field is the advancement of technology.
Zhang Xiaofei: Technology updates are always faster than market changes, and the ability to adapt to market changes is also essential.
Yan Chunhui: The price decline will have an impact on those companies whose technology is stagnant. What was sold last year is still selling this year, the production capacity has not changed much, and the production efficiency has not been greatly improved, and the profit margin will of course be more and more compressed.
In addition to using the existing production capacity to meet the needs of the lighting market and ensuring the competitiveness in terms of performance and quality, we will continue to introduce high-end products with special features to open up new markets instead of following the existing market. The same number of machines, the production capacity of different companies is not the same, the change in output value can exceed more than twice.
Yaweilang wants to optimize product structure, quickly promote differentiated high-end products, and feature high-end products, so that profit margin will not be affected by the current price decline, but will create new profit margins against the market.
Zhang Xiaofei: You have said that the goal of Yaweilang to catch up and surpass is the world's third wafer photoelectric. In the past five years, Jingdian has planned 150 MOCVDs in the mainland. So far, there are more than 300 machines including Taiwan, and there are only 10 units that Yaweilang is currently in production. How much investment is needed if it is to be surpassed? This includes aspects such as funding and time. It may not be entirely a question of funding, but also issues such as the market and talent.
Yan Chunhui: As a new company, Yaweilang is still a small BABY. At present, it is necessary to learn from Jingdian because it is in the market share of products, the promotion of new technologies, the influence, the construction of intellectual property rights and the strategy of operation. Every aspect is an example of learning.
However, Yaweilang has many years of accumulated technical foundation, and some technologies have been done when crystalline power can not make efficient LEDs. In the early years, AXT was the first to introduce high-power chips in the world after Philips Lumileds. At that time, green light products were the world's leading, and display products were the most reliable in the world. At that time, the technology was completely ahead of all LED chip companies in Taiwan and South Korea. We have also had some new technologies in the past years, and the new technology has been gradually released through the platform of Yaweilang, which is also the ultimate real competitiveness.
In addition, the company's capacity, scale, and market share are important to the company, but it is not a decisive impact. We can only have 30 machines, but the impact in the industry can exceed that of crystal. For example, Philips Lumileds has a small number of machines, but everyone respects it. The number of early CREE machines was not very large. Later, it was expanded several times. Its products and corporate brands have already been established. These are not dependent on the production capacity.
Yaweilang still uses the distinctive and competitive products as the basis for establishing the brand. After this foundation is solid, it will expand and exert its production capacity. We believe that this is a model for companies to achieve stable and healthy development. Now our problem is that there is not much capacity to deal with all the markets, and now we can only put limited capacity into specific markets. When the production capacity is sufficient, the level and capability of the product can fully meet the requirements of the market.
Zhang Xiaofei: You can have your own place in a specific field, because the market segments for each product line are different. How much market share do you want to occupy in a specific segment of the target market in Yaweilang?
Yan Chunhui: This is related to your specific capacity scale. For example, the actual scale of production of 500 machines in China, 60%-70% of this market may belong to the middle and lower reaches, which you do not want to occupy. This added value and profit margin are small. We should be efficient lighting in the planning of production capacity. Yaweilang will soon be the top three in the Chinese market in a year or two, whether it is in high lm/W or high lm/$. Because this involves the release of capacity, but pure technical indicators, to turn it into a market share, there is still a lot to go.
Zhang Xiaofei: How much can Yaweilang's product yield be achieved?
Yan Chunhui: Product yield is no worse than anyone in the industry, and it will be higher than them. This is also our soft competitiveness. The yield of the epitaxial chip is not to say how many advanced machines you have, nor how much you have, but rather that the experienced team has a thorough understanding of all the process details after years of system work. Only by grasping can it be stabilized can it be improved. This yield is based on the experience of the system and the integrated team. We have used all of the past epitaxial furnaces from Emcore, Veeco, Tom Swan, Aixtron to large and small. So many years of experience guarantee that we have reasonable considerations for the machine, guarantee these yields from the process and maintenance, and we have new technology to make up for the shortage of the epitaxial furnace and improve the yield from another angle.
Zhang Xiaofei: Since 2010, Taiwanese manufacturers have frequently laid out the mainland and even cooperated with several large state-owned enterprises. They are looking at the vertical cooperation between the upper, middle and lower reaches and expanding the downstream channels. What kind of impact does this kind of strong cooperation bring to China? What is the strategy of Yaweilang's external cooperation? Is there a plan to cooperate with the middle and lower reaches?
Yan Chunhui: Yaweilang's positioning is the main chip supplier, that is to say, the chip is the main product, which means that we have to cooperate closely with the downstream industry chain. Not only packaging factories, lighting factories, but also module factories, TV sets, LCD panel factories, etc., from all angles to fully cooperate with these manufacturers to understand their needs and thus bring competitiveness to these direct or indirect customers. And value.
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