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jintianshangwu9dian30fen，zhongguodalubandaotixingyeshizhizuigaogongsizhongxinguojizhengshidengluagukechuangban，anfaxingjia27.46yuan/gukaipan，kaipanhougujiamengzhang245.96%zhimeigu95yuan，shizhibiaoshengzhi6780yirenminbi，suihouzoushikaishiguoshancheshibodong，qizhongdiefuda15%。
hgufangmian，zhongxinguojiganggushichangduanxiantiaoshui，diefuchao11%。jiezhifagao，zhongxinguojikechuangbangujiawei87.13yuan/gu。
作为国产daigongzhizaotidaichanyezhongdelongtouqiye，zhongxinguojizaiagukechuangbanercishangshidejinchengshoudaolegefangjidaguanzhu，shenzhidaidonglexinpiangudeyouyiborechao，ertayiluchongmanbozhedefazhanlichengyeyichengweirenmenjinjinledaodehuati。
zaiwushujiangshuzhongxinguojidechengzhanggushizhong，huorenwu、huojishudeqingjieyibeixiaofeidetaiduo，zheicizhidongxijiangcongzibengushichufa，kanwoguoxinpiandaigongdiyijutoushiruhejinglicongshangshichuqide400duoyirenminbishizhi，diezhilianlingtoubudaode20duoyishizhidigu，zaichuangzao12nianshizhibaozhang300beidegaoguangshike？
我们发现，中芯国际一路曲折成长的背后，聚集了国家各路大基金、大唐电信等国家队资本，以及华登科技等国内外一系列风投企业的青睐。
zaizhongguobandaotichanyedaigonglingyuchengqianqihoudezheiyizhongyaoshike，zhidongxitongguohuiwangzhongxinguojimanmanershizaidezibenbianhua，yiciweixiansuojinxingcengcengpouxi，zhujianmosuochuyigedaibiaowoguobandaotiqiyezaixinshidaibianqiandedianxingzibengushi。
zhongxinguojiweiyushanghaidejingyuanchang
2000nian～2003nian：zhongxinguojichuzhangcheng
2000nian，dangdagudongjiangzhangrujingyishoudaidadeshidajitidianlugongsizhongyaoguquanmaiji“sudi”taijidianshi，beipochuzoudezhangrujingdandaozhirugongjinledangshiganggangmengyadezhongguodalubandaotishichang，kaishimouhuajingyuandaigongchangzhongxinguoji。
neishideshanghaizhengzhipudongdakaifalangchao，duikejigongyedefazhantigongleyixilieyoulidegulizhengcetouzihuanjing，zaigaoxinjishulingyuchengjiezhetongyongqicheheguojia909gongchengliangdaxiangmu。zhongxinguojidechuxian，rangdangshideshanghaikandaolexindekejichanyefazhanfangxiang。
jingguoshuyuedetuanduizujianhezibenchouji，2000nian12yue，zhangrujingshouwo14.8yimeiyuanzijin，zaikaimanqundaozhucezhongxinguoji，yimianshuyushanghaibandaotichanyefazhandexinqizhihuanhuanshengqi。
但张汝京创立中芯国际初期，其14.8亿美元背后的出资人结构非常分散。
judangshimeitifenxibaodao，zhongxinguojichushide16gegudongfugaizhongguodalu、meiguo、xinjiapodengguojiahediqudetouzizhe，baokuoshanghaishiye、beidaqingniao、huadengguoji、motuoluolahehandingyataidenggongsijitouzijigou，erzheiyeweizhongxinguojirihoudegaocengneidoumaixialebuandezhongzi。
zhongxinguojichushigudongjiegoushiyitu（shujulaiyuanyuwangluo）
chenglihoudezhongxinguojisihuyizhizaitiaozhan“zhongguosudu”。
cong2000nian8yuekaishidazhuangjianchang，dao2001nian9yuediyipian0.25weimiyixia8yingcunjingyuanjinrushichanjieduan，zhongxinguojizhiyongle13geyue。20nianqian13geyuedejianchangsudu，kesihaobushujinniantesilabeichuishangtiandeshanghaichaojigongchangjianchangsudu，houzheyejinhualeyinianshijian。
相比之下，中芯国际的集资速度更加强劲，从成立到获得A轮融资仅耗时9个月。
2001nian2yue，zhongxinguojihuodedcmzhongguotouzideshuqianwanmeiyuanzhanlverongzi，bingzai7geyuehouzhijienaxiayoushanghaishiye、huadengguojihezhangjianggaokedengduogedanweitouzide10.19yimeiyuanalunrongzi。
danzheiduiganggangchenglidezhongxinguojilaishuo，haiyuanyuanbugou。
紧接在同年12月，中芯国际宣布与中国工商银行、中国建设银行、交通银行、上海浦东发展银行4家金融机构，签订总金额4.8亿美元的联合贷款合同，以此加速其在张江高科技园区规划集成电路（IC）制造厂的建造进度。
jiyuqianqidedaliangzijindetouruheyanfajiasu，2002nian8yue，zhongxinguojizhengshixuanbuqi0.18weimicmosluojizhichengtongguoquanmianjishurenzheng，bingchenggongshixianliangchan。
中芯国际亦成为我国第一家可提供0.18微米制程技术的芯片代工厂商。
suizheshouciliangchandeshixian，zhongxinguojicong2002nianqiyekaishishifangxiangguanyingshouxinxi。lishishujuxianshi，2002nianzhongxinguojizongyingshou5030wanmeiyuan，jingkui1.026yimeiyuan。
duiyubandaotixingyeqianqifazhansuoxutourudaliangzijinerzaochengderubufuchu，zhongxinguojinengzuode，zhiyourangyanfaheliangchangengkuaixie，kuisungengshaoxie。
shijishang，zhangqilirunkuisunyejiangchengweizhongxinguojizhihoujinshiniandecaizhengzhuangkuang，buguozheixiedouyishihouhua。
zhongxinguoji2002nianzhi2019nianzhengtiyingshouqingkuang
shijianlaidaochongchizhefeidianjiaolvhexiaodushuiweierde2003nian，zheiduichenglidisanniandezhongxinguojilaishuo，jishishouciipoqianzibendaliangyongrudezhongyaojiedian，yeshizitacongchengliyilaijiuyizhiqiongzhuibushedeneiguyinmaiyuyangmoudebaofa。
一方面，中芯国际融资不断，zai9yuechenggongmuzi6.3yimeiyuanhou，zaiduhuozhangjianggaokezengzide1200wanmeiyuan，bingyu12yuechenggongwanchengblunrongzi6.36yimeiyuan，youhandingyatai、dcmziben、xiangfengtouzihehuadengguojidengjigoutouzi。
另一方面，张汝京前东家的老对手台积电一纸诉状将中芯国际告上了法庭，qisuzhongxinguojiqinfanqizhuanliquanbingqiequshangyejimi，lishi6niandezhuanlizhanzhengshikaida。
zheishi，yishizhongxinguojishangshiqianxi。
zhongxinguojichuangshirenzhangrujing
2004nian～2009nian：shangshigaoguangshaozongjishi，zhuanlizhanyinmaichedibaofa
yutaijidianjiliedezhuanlizhanbingmeiyouchenggongzuaizhongxinguojideshangshi。
2004nian，zhongxinguojizhongyuyinglailediyicidabaofa，yu3yuexiangjishunlidengluniujiaosuohegangjiaosuo，gongnijizi10yizhi15yimeiyuan，yongyujianzaogongchangbingduijidijinxinggaizaoshengjideng。
从公司成立到首次IPO，中芯国际只用了4年。zheiyinian，zhongxinguojideyingshoubujinbiqianyinianfanlejiangjin3beizhi9.74yimeiyuan，yingshoulirunyeshoucishixianzhengzengzhang。
tongshizaishangshiqian，zhongxinguojiyezaicihuodeleyoushanghai4jiayinxingtouzide2.85yimeiyuan，zhangjianggaokezaicikuodazengchi。
jushichangyanjiujigouidcxiangguanshuju，zai2004niandisanjiduquanqiuxinpiandaigongshichangzhong，zhongxinguojichanzhichenggongchaoyuexinjiapotexubandaoti，chengweiquanqiudisandajingyuandaigongchang。
jinguanlitoubuwanjiataijidianrengyoujiaodajuli，danzhongxinguojishunlijishenquanqiujingyuandaigongshichangqiansan，yiweizhewoguodalubandaotichanyeliaoliyuquanqiubandaotishichangdewutaigengjinyibu。
喜的另一面是忧。
台积电的诉讼尽管没有让中芯国际上市的引擎直接熄火，但却让它在上市当天就出现大幅度破发，随后一路下行。
zhongxinguojihetaijidiande“qiajia”zhidao2005nian5yuecaidachengtingwaihejie。genjuxieyi，zhongxinguojixuzaiweilai6nianneizhifu1.75yimeiyuandezhuanlishouquanfeijitaijidian，xiangdangyuzhongxinguoji2005nianyingshoude15%。
danzheichangzhuanlizhanbingweizhenzhengjieshu。2006nian8yue，taijidianzaicijiangzhongxinguojigaoshangfating，qisuqibuzunshouhejiexieyi，zai0.13weimigongyizhongjixushiyongtaijidianjishu。
zheiduidangshiyinglichixufuzengzhangdezhongxinguojilaishuo，wuyishixueshangjiashuang。suihou，zhongxinguojishizhichixuxiadie，shenzhidao2008nian10yuediezhilishizuididian21yirenminbi，liandangniangangshangshidelingtoudoubudao，zhijiang95%。
zaiciqijian，zhongxinguojichuleduiwaidaikuansuohuodedezijinwai，waiburongzijihutingbai，qiegongsiguquanchaoguo5%dedagudongjinyoushanghaishiye，chigu10.94%。
所幸在市值彻底跌至低谷后，国家资本亲自入局为中芯国际站台。
2008nian11yue，datangdianxinxiangzhongxinguojitouzi1.72yimeiyuanbingjianlizhanlvehezuolianmeng，chigu16.57%，chengweizhongxinguojizuidagudong，erdatangdianxindeshijikonggurenweizhongguoxinxitongxinkejijituan，youguowuyuanchuzichengli。
zhidao2009nian，jijifansudezhongxinguojizuizhonghaishiyipeichang2yimeiyuan，shouchuyue10%degufengaozhong。
zheiyijieguojizhongxinguojidailailefantianfudidebianhua，yishigongsidagudongjiegouxingchengyidatangdianxin、taijidian、shanghaishiye“sanquanfenli”dejumian，fenbiechigu16.53%、11.11%、10.07%；ershishinian61suidezhangrujingzaidubeipolikaizijiqinshouchuanglidegongsi，chuzouzhongxinguoji。
zhici，zhongxinguojiyutaijidianzhangda6niandezhuanlizhanzhongyujieshu。
2010nian～2014nian：yuanqihuifuqi
zaiguoyouzibendechengyaoxia，yuanqidashangdezhongxinguojikaishiburuzhongzhenshiqidejieduan。
guquanfangmian，cong2010nianqi，zhongxinguojikaishiduigupiaozhongxinjinxingpeishou，buduanruohuataijidianchigubili。
与此同时，2011年中国投资有限责任公司（简称“中投公司”）xuanbutouzi2.5yimeiyuanjinruzhongxinguoji，zhijiehuode11%yishangdegufen。zuoweiyijiadaxingguoyouduziqiye，zhongtougongsiderujujinyibuxueruoletaijidianzaizhongxinguojidehuayuquan。
zhidao2012nian，zhongxinguojizuidagudongrengshidatangdianxin，chigu19.27%，qicizhongtougongsi、taijidianheshanghaishiyefenbiechigu11.27%、6.7%、5.73%。
另一方面，中芯国际的董事会也历经了一场重大变革。2011nian，zaizhongxinguojidongshihuijilieneibudouzhengheqiandongshizhangjiangshangzhoucishidekunjingxia，xinrendongshizhangwenyiyinjian55suide“qianyuanlao”qiuciyunshangrenzhongxinguojiceo，kaishixunsuwendingzhongxinguojineibuxingshi，nuliniuzhuanzhangqikuisundejumian。
zhongxinguojiqianceoqiuciyun
suihoujinianfazhan，zhongxinguojideneibuguquandiaozhenghedongshihuidouzhengzhubujinruweisheng。
guquanfangmian，2013nian，taijidiangufenzhanbiyibeiyasuodao5%yixia，guiwei“qitagudong”zhilie，zhenzhengshiquzaizhongxinguojidezhuyaohuayuquan。
jiezhezai2014nian，shanghaishiyeyetuichu“zhuyaogudong”zhilie，zhongxinguojizhuyaogudongzhishengxiachigu18.95%dedatangdianxin，yijichigu10.81%dezhongtougongsi。
zaizhongxinguojijinxingzheiyixilieneibugaigediaozhenghou，womenbufangjiangmuguanglazhiguoneizhenggedashichang。bunanfaxian，zheishiwoguodeicchanyeyizhujianburufazhankuaichedao。
zi2012niangongxinbubanbu《jichengdianluchanye“shierwu”fazhanguihua》hou，gedizhengfujinyibujiadaicchanyefuchilidu。
shijishang，woguoicchanyezhenzhengbeinaruguojiazhangqifazhandezhanlvexingchanyeshizai2014nian，guowuyuanyinfa《guojiajichengdianluchanyefazhantuijingangyao》，guihualewoguoxinpianchanyezhangda15niandefazhanluxian。qizhongyaoqiudao2020nian，woguoicchanyeyuguojixianjinshuipingchajusuoxiao，quanxingyeshourunianjunzengsuchao20%。
zheiyizhengcedechutaigengguangfandixianqilequanguoicchanyechuangxinchuangyefazhanlangchao。tongnian10yue，woguojiadaicchanyetouzilidu，chengliguojiajichengdianluchanyetouzijijin，xuanbujiangyiguquantouzidengduozhongxingshizhongdiantouziicxinpianzhizaoye，shoupiguimoda1200yirenminbi。
实际上，国家大基金（一期）zaizhongxinguojihoumiandegushizhong，banyanleshifenzhongyaodejiaose。zheiduiyimanmanhuifufazhanyuanqidezhongxinguojilaishuo，wuyishiyigexindefazhanjiyu。
2015nian～2018nian：guozijiasurugu，shizhiyinglaixiaogaofeng
guojiaicchanyedajijin1200yideluodi，qizhongyibufenjiuzadaolezhongxinguojitoushang。
2015nian，zhongxinguojixuanbuguojiadajijinjiangyimeigu0.6593gangyuanderengoujia，rengou47yiguxingufen。zaidatangdianxinhezhongtougongsixiangjiweiguozizijinchurangbufenguquandeqingkuangxia，2015nianguojiadajijinyi17.59%chigubilichengweizhongxinguojidierdagudong，diyidagudongrengweidatangdianxin，chigu18.3%。
zhideyitideshi，guojiadajijinyiqichulezuichuduizhongxinguojidegufenrengouwai，tazaihouxudeleijitouzizhong，duizhongxinguojidechengnuotouzigengshidadaoleyue215yirenminbi。
国家大基金的入股进一步加速了中芯国际的融资节奏，从2015年起，清华大学、黑岩集团（BlackRock）、ziguangjituandongshizhangzhaoweiguo、zhongguohuaxintouzigongsixiangjiruguzhongxinguoji，chengweizhongxinguojidagudong。
dao2018nian，zhongxinguojineibuchiguchao5%degudongyizengzhi5jiadanweihuogeren，fenbieweidatangdianxin、zhongguohuaxin、guojiadajijin、qinghuadaxue、zhaoweiguo，chigubilihejichao64%。
zheiyixiliejijibianhuarangzhongxinguojiyezhujianburulexindefazhanjieduan。
chulejijijianchang、diedaifazhanzhichengjishu、kuodashengchanguimowai，zhongxinguojiyekaishiyuhuawei、gaotongdengxinpianshichangzhongyaowanjiakuodahezuo，tuijingexiangdaigongyewudeluodishishi。
zhidezhuyideshi，zaigeluzijinmijirugu、zishenyewubuduankuozhangdeguochengzhong，zhongxinguojideshizhiyezhujianshangzhangbingshuaxinjilu，shenzhizai2017nian11yuedadaoshizhi669yirenminbidelishixiaogaofeng。
zhidao2018nian，zhongxinguojidezongyingshoutongbizengzhang8.4%zhi33.6yimeiyuanxingao，jiangjinshi2002nianzongyingshoude67bei。
2019nian～2020nian：niujiaosuotuishi，benfuguoneiaguhuosushangshi
houlaidegushi，womenyibumosheng。
zaijinglilegongsifusudexiaogaochaohou，2019nianhe2020nianzhiyuzhongxinguoji，wuyishilianggezhongdadelishizhuanzhedian。
suizhe2019nian6yue13rikechuangbanzhengshikaiban，woguokejichuangxinqiyeyuzibenshichangjinyibushenduronghe，daliangkejiqiyekaishichoumouqiangtanshangshikechuangban，zhongxinguojijiushizheigudalangchaozhongdeyiyuan。tahaiyouyigedutedeshenfen——shoujiazaikechuangbanshangshide“a+h”hongchouqiye。
kechuangbanzhengshikaibandediertian，yugaoleyigeduoyuedezhongxinguojizhengshicongniujiaosuotuishi，jinrumeiguochangwaijiaoyishichangjiaoyi，bingxiangmeiguozhengjiaohuishenqingchexiaozhucejizhongzhiqizaimeiguozhengquanjiaoyifaxiadeshenbaozeren。
与此同时，中芯国际的大股东结构也正在发生变化。
jiezhi2019niandi，zhongxinguojidiyidagudongweidatangdianxinhezhongguohuaxinbinglie，tongshichigu17%；dierdagudongweiguojiadajijin，chigu15.76%。qinghuadaxue、zhaoweiguolikaidagudongxinglie。
yimianshixingshiyufajiliedequanqiubandaotichanyejingzheng，yimianshijiasutuijindebandaotiguochantidaihuajincheng。zaiwoguogaoxinjishuchanyeneiwaihuanjingchixuliebiandeshijianjiedianxia，zhongxinguojixiayibudezouxiang，chengweileyingxiangwoguobandaotichanyefazhandezhongyaoyinsuzhiyi。
jinnian6yue1ri，zhongxinguojidijiaojikechuangbandeyifenercishangshizhaogushu，zhijiejiangbandaotizibenshichangzhakailehua。
shashijian，wushuchanyetouzizhehemeitidoujiangshenshidemuguangzhongxinjujiaozaizhongxinguoji，guanyuzhongxinguojidehuatiyezaiduanshijianneibeizhongrentuishangfengkoulangjian，daliangxiangguanbaodao、lishiqidiputiangaidierlai。
xiangbilejiezhongxinguojiyibosanzhedelishigushi，gengduorangzibenshichangzhenhandesihushitacongdanshengqijiukezaijiyinlide“zhongguosudu”。
cong6yue1ridijiaoshenqingshu，3rihoujinxingshoulunipowenxun，15tianhoutongguoshangshiweihuiyi，3tianhoutijiaozhuce，7tianhouzhuceshengxiao。zhongxinguojidekechuangbanshangshilicheng，jinhaofeile29tian，jiuchuangxiawoguoagushichangshinianyilaizuikuaishangshisudu。
zhongxinguojikechuangbanshangshiliuchengshijiandian
zibenfangmian，zaizhongxinguojishenqingipoqian，jiukaishiyouzibenbuduanxiangzhongxinguojijiadatouzi。
jinnian5yue，zhongxinguojixuanbu，guojiadajijinerqi、shanghaijichengdianlujijinerqifenbiexiangqizigongsizhongxinnanfangzhuzi15yimeiyuanhe7.5yimeiyuan，jiasukuozhangjingyuanchanneng。
zai7yue5rizhongxinguojipiludezhanlvepeishouxinxizhong，qitouzizhezhenronggengshihaohua，baokuodatangdianxin、guojiadajijinerqi、shanghaijichengdianluchanyetouzijijin、juyuanxinxingdeng29jiatouzizhe。
julejie，zhongxinguojiipofaxinghou，qidagudongjiangyoudatangdianxinheguojiajichengdianluchanyetouzijijinzucheng，fenbiechigu12.75%he11.82%，qitagudongzezhan50.43%。
zibenshichangduizhongxinguojidereqingzhijiecuihualeshizhidebaofa，qiganggushizhicong6yue1ride990.96yirenminbi，baozhang2beizhishangshiqianxide2397.83yirenminbi，shi2004niangangshangshishizhide5bei，2008nianshizhizuidigude114bei。
yejiushishuo，ruguoyoutouzizhezai2008nianzhongxinguojishizhizuidigushimairuqigupiao，qiezaishinianjianbucengmaichu，xianzaijiukeyizhuanfan100duobei。
如今的中芯国际，已然构建了一个属于自己的半导体代工帝国，成为中国半导体代工业第一股。
zhongxinguoji2004nianzhi2020nianlishishizhizhangshitu
jieyu：20zaizhongxinzibenlu，shishizaoyingxiong
huikanzhongxinguoji20nianlaidemanmanchengzhanglu，congzuichudeshangshipofadaoshizhidiezhilingtou，zaidaorujinshizhifengzhangbaibei；congchuangshirenanranchuzoudaoneibudouzhenghunluan，zaidaorujinjishuheguanlirencaijiji，zheishiyibuzhongguobandaotirencaibilulanlvdechuangyeshi，yeshiyibuzhongguobandaotiguochanhuafazhanshi。
zaidangxiaquanqiukejijingzhengjiaju，woguogaoxinjishurengyuguowaixianjinjishucunzaiyidingjulidehuanjingxia，zhongxinguojichenggonghuiguiagushichang，yerangwomenkandaoleguochanbandaotichanyebuduanzhuangdahechengzhangdejijitaishi，erzheiyeshiwoguozibenshichangyukejichuangxinqiyexianghumohefazhan，chanshengzhibiandeyigesuoying。
danwomenyexuyaolengjing、lixingdisikaohekandaiwoguobandaotichanyeshijidefazhanjincheng，yijitunquduanqizibenreqinglvjinghouzhongxinguojizhenzhengdeshichangjiazhi。gaobie“pengsha”，jiaotashidi、shishiqiushidituijinwoguobandaotichanyedechengshuhefazhan，caishiweilaishixianjiasuchaochedezhongyaodongli。
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