According to Taiwan media reports, September 19, will be the first 100 days TSMC chairman Morris Chang CEO’s responsibility! This is 100 days, he has given investors a gift market, so the four investment bank JP Morgan Chase Xia Bao Wen, He Haoming Merrill Lynch, Citigroup and Goldman Sachs land line Dongfeng Lu, also followed TSMC raised its price target.
Four foreign, Sarkozy raised the target price
According to TSMC announced the latest earnings report, third quarter consolidated revenue of NT about ninety billion, growth of 21%; third quarter gross margin of approximately 48%, significantly better than market expectations. Estimated capital expenditure this year is also revised by the beginning of the $ 1.5 billion to $ 2.3 billion, the pace of recovery of the semiconductor industry is also faster than previously anticipated, estimated 2011 production value can be restored to 2008 levels.
Chang breath increase global semiconductor output, the output value of electronic products, third-quarter revenues, annual capital expenditures of four data so-called Big Four foreign JPMorgan Xiabao Man, He Haoming Merrill Lynch, Citigroup and Goldman Sachs land line Dongfeng Lu, also followed TSMC raised its price target.
Internally, "Chamberlain" is the first day back from June 12 to any of TSMC began to rectify internal morale, replace the head of human resources, to re-evaluate internal performance appraisal system. The reason is that after the financial crisis, layoffs because of improper handling of TSMC, so the most important Chang adversely impact the company’s image.
At that time, TSMC former employees raised unfurled before Chang ran home to protest the company mistreats them, causing external shock. Since Chang’s troops philosophy is "Talent is the company’s most important asset," but after the financial crisis forced the cost of compression to a 5% annual real name line staff attrition rate of layoffs, it’s totally deviate management Chang , also planted to replace the CEO decision.
Disguised layoffs, planted the CEO decided to change
Chang knew expansion "shareholders and customers," and other popular forces, could cause unrest, so he immediately return either a public apology, but also promised to rehire fired employees, but do not want to return to the company’s employees receive 10 NT $ 500,000 to care for gold. This will not only allow TSMC to regain the public’s trust and respect, staff concerted effort to pay out good results, leaving the investment circle hands in the air into Chang’s arms.
Chang back into the embrace not only investors, but also includes customers from the end of last year began to churn. Since the second quarter of last year, good demand, tight capacity have the phenomenon of TSMC in leading Tsai, a price increase to customers as at that time, TSMC reason for this price increase is the first time in four years, "due to the soaring prices of raw materials , to reflect costs, TSMC was forced to adjust the price. "
Although this sounds like a justified reason, but after the first shot at TSMC opened, including competitors UMC and packaging and testing plant CHIPBOND technology, also announced the possibility of follow-up, a move tantamount to TSMC’s lead, of course, angry customers greatly hopping! And to the third quarter, demand has not improved, but also the outbreak of the global financial crisis, we understand that the customer is TSMC in order to avoid later in the price, "put together" and decided to support UMC, Chartered Semiconductor and other competitors.
Unexpectedly, the problem may be the loss of orders, Tsai’s response was actually, "Competition is always an important part of the business, customers have the opportunity to choose the other is normal." Therefore, when Tsai Chang offend customers spread the news when ears, TSMC and customer relationships have also been to the extent of almost beyond repair, the elderly, of course furious.
Godfather wisdom, resolve customer dissatisfaction
And after Chang back to any CEO, peace within his hand, to win back the employees of the company’s identity, on the other hand is resisting foreign aggression, TSMC actively resolve customer dissatisfaction. On August 18, TSMC at the "Business Week", and Chang in his capacity as CEO of listening to each business unit reports, he once again announced loudly, now a top priority for the company is to put before the loss of TSMC Broadcom, Qualcomm (Qualcomm) , Marvell (Marvell) and other major customers some orders, re-recapture!
A few days later, the market had been received by the United States came TSMC Broadcom (Broadcom) single-chip wireless communication largest single month up to 2-30000 twelve-inch wafer, almost filled a 12-inch Fab, for TSMC monthly revenue contribution of about several billion Taiwan dollars, significantly raised the operating performance in the fourth quarter. It is reported that in addition to outside Broadcom, Qualcomm also overweight 55 and 65-nanometer manufacturing process orders, NVIDIA (NVIDIA) and Advanced Micro Devices, also expanded orders.
Moreover, Chang understands "is also breaking new ground when the crisis", TSMC alone actively investing in July 25nm advanced process equipment, more than 250 million U.S. dollars (about NT $ 8.25 billion yuan), "the economy will tilt to the left the L-shaped recovery "is Morris Chang for the global economy after the financial tsunami view of the changing situation in the face of chaos, Chang crossed the wisdom to be godfather to the fog, long way to go. |
