380 billion chip giants change their looks again!

SMIC announced on the Hong Kong Stock Exchange on July 17, 2023 that Gao Yonggang resigned as chairman, executive director and chairman of the nomination committee of the board of directors due to work adjustment, effective from July 17, 2023.

Liu Xunfeng, vice chairman, executive director and member of the nomination committee of the board of directors, has been appointed as the chairman, executive director and chairman of the nomination committee of the board of directors, effective July 17, 2023.

The SMIC official website has been updated with the Chairman's information.

Former CFO Resigns Less than 1.5 Years in Office

According to the announcement, Gao Yonggang resigned as chairman, executive director and chairman of the nomination committee of the board of directors due to work adjustment.

according to public information, Gao Yonggang, 58, was appointed acting chairman of SMIC on September 3, 2021, officially became chairman of SMIC on March 17, 2022 , previously served as non-executive director of SMIC in 2009, transferred to executive director on June 17, 2013, and served as chief financial officer of SMIC from February 17, 2014 to March 17, 2022. See "Heavy! SMIC's 6.71 million-year CFO officially takes office as chairman".

Gao Yonggang is the sixth chairman in the history of SMIC.

Gao Yonggang has served as the head of finance or enterprise of many enterprises or institutions, and has rich experience and in-depth research in the fields of financial management, investment and financing, and enterprise management. Dr. Gao served as chief accountant of the Institute of Telecommunications Science and Technology and chairman of Datang Telecom Group Finance Co., Ltd. He is currently a director of Jiangsu Changdian Technology Co., Ltd. and an independent director of Shanghai Yiruiguang Electronic Technology Co., Ltd.

Dr. Gao is a PhD in Management from Nankai University. He is currently the executive director of the China Accounting Society, a member of the Science and Technology Innovation Board Listing Committee of the Shanghai Stock Exchange, a founding director of the Hong Kong Independent Non-Executive Directors Association, and the vice president of the China Electronic Information Industry Federation.

Chemical giant veteran becomes chairman

According to the previous announcement, Liu Xunfeng was nominated as vice chairman and executive director of SMIC just two months ago.

On the evening of May 11, SMIC announced the resignation of non-executive directors and the appointment of executive directors.

According to the announcement, Dr. Liu Xunfeng, a candidate recommended by National Integrated Circuit Industry Investment Fund Co., Ltd. , has been appointed as the second category director, executive director, vice chairman of the board of directors and member of the nomination committee of the company, effective from May 11, 2023.

the announcement pointed out that dr Liu, as vice chairman and executive director of the board of directors, can receive an annual basic salary of RMB 3.34 million and an annual incentive , of which the annual incentive will be issued after being determined by the board of directors with reference to the group's performance and its personal performance in accordance with the company's remuneration policy for directors and senior management personnel. Dr. Liu's remuneration package was determined by the Board in accordance with the Company's remuneration policy for directors and senior management and with reference to the recommendations of the Company's remuneration committee.

The curriculum vitae of Dr. Liu is as follows:

Dr. Liu Xunfeng, aged 58, previously served as the party secretary and chairman of Shanghai Huayi Group Co., Ltd. , chairman of Shanghai Huayi Holding Group Co., Ltd., and vice chairman of Shanghai Chemical Industry Zone Development Co., Ltd. , he also served as a member of the 14th CPPCC , Vice President of China Petroleum and Chemical Industry Federation , and President of Shanghai New Materials Association.

(Photo from Xinhua)

Dr. Liu has worked in large industrial groups for a long time and has more than 30 years of business management experience. He has served as deputy chief engineer, deputy director of investment engineering department, assistant general manager and deputy general manager of Sinopec Shanghai Petrochemical Co., Ltd., deputy general manager of Shanghai SECCO Petrochemical Co., Ltd., deputy general manager of Shanghai Chemical Industry Zone Development Co., Ltd., Deputy Secretary of the Party Committee, President, Secretary of the Party Committee and Chairman of Shanghai Huayi (Group) Company. He has successively won the titles of Shanghai Industrial and Commercial Leader and Shanghai Outstanding Entrepreneur.

Dr. Liu is a PhD in Management Science and Engineering from Xi'an Jiaotong University, a Master of Business Administration from China Europe International Business School, a Master of Reaction Engineering from the Department of Chemical Engineering of East China Institute of Chemical Technology (now known as East China University of Science and Technology), and a professor-level senior engineer.

shortly after Liu Xunfeng became vice chairman of SMIC, on June 21, the Shanghai municipal government released a set of personnel appointment and removal information. Among them, Gu Lili was appointed chairman of Shanghai Huayi Group Co., Ltd.; Qian Zhigang was appointed president of Shanghai Huayi Group Co., Ltd.; Liu Xunfeng was removed from the post of chairman of Shanghai Huayi Group Co., Ltd.; Wang Xia was removed from the post of president of Shanghai Huayi Group Co., Ltd.

In conjunction with the announcement of Dr. Liu Xunfeng as Executive Director, SMIC also announces that Mr. Wong Heng has resigned as a non-executive Director of the Company and as a member of the Nomination Committee of the Board of Directors (the "Nomination Committee") with effect from 11 May 2023 due to other work arrangements.

The announcement pointed out that Mr. Huang has confirmed that he has no differences of opinion with the board of directors, and there are no other matters related to his resignation as a non-executive director that need to be brought to the attention of the shareholders of the company.

The change in the position of SMIC's executives has been the focus of the market.

According to previous reports, on the evening of December 15, 2020, SMIC announced the return of Jiang Shangyi as the company's second-class executive director, vice chairman of the board of directors, and member of the strategy committee, which triggered the dissatisfaction of co-CEO Liang Mengsong. At one point, he offered to resign, and the two industry experts who had worked together at TSMC had a lot of trouble for a while.

On June 25, 2021, SMIC's general meeting of shareholders approved a motion on the Company's "2021 CRE Restricted Stock Incentive Plan (Draft). Among them, the proposal to grant 400000 restricted shares to Liang Mengsong was also passed.

Liang Mengsong joined SMIC in October 2017, significantly enhancing its R & D capabilities in advanced processes. At the time of joining, SMIC's most advanced process for mass production was 28nm, but in only two years, under the leadership of Liang Mengsong, SMIC began mass production of 14nm chips in the fourth quarter of 2019.

On the evening of November 11, 2021, SMIC issued an announcement stating that Jiang Shangyi resigned as Vice Chairman, Executive Director and Member of the Strategy Committee of the Board of Directors because he hoped to spend more time with his family, with immediate effect.

the latest news shows that on June 28, 2023, the system module packaging factory invested by hon hai group, xun core re-elected its new director at the shareholders' meeting. among them, hon hai semiconductor strategy chief Jiang shangyi was elected, and xun core immediately convened a new board of directors to elect and pass Jiang shangyi's new chairman.

Jiang Shangyi is a legendary engineer in the semiconductor industry, affectionately known as "Jiang Dad" by TSMC people ". It presided over TSMC's key technology research and development from 250nm to 16nm FinFET nodes, making TSMC surpass IBM and become a technology leader from technology follower.

at the SMIC shareholders' meeting just past, Dr. Gao Yonggang pointed out in response to questions raised by on-site shareholders about talents that among the company's more than 20000 employees, there are more than 10000 engineering and technical talents, which is the wafer foundry with the largest accumulation of talents in China. In addition, as the fourth largest wafer foundry in the world, the platform and salary level provided by the company are quite competitive in the domestic talent market.

"judging from the overall indicators, our brain drain rate last year was relatively low, and this year should be single digits. We allow normal talent flow in the industry, but we can retain key and important talents, and these people are also willing to struggle on this platform," said Dr. Gao Yonggang.

as of the close of trading on the 17th, SMIC (688981.SH) fell 1.40 to close at 48.77 yuan per share, with a total market value of 386.55 billion yuan.

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source of information: China fund newspaper, announcement of listed companies, SMIC official website edited by CFO jun, please indicate the source of reprint