IDGVC以4000万美圆投资迅天宇或遇陷阱

来源：百度文库 编辑：神马文学网 时间：2024/04/27 17:20:55

IDGVC以4000万美圆投资迅天宇或遇陷阱

( 本文摘自www.idgvc.net <风投事件》专栏。）
[背景]
IDGVC于2007年10月与迅天宇签定了投资协议，将与河南迅天宇科技有限公司合资成立新公司。新公司股东将由三家组成：IDGVC投资4000美圆，占34%的股份。高文秀以其个人知识产权占35%的股份。迅天宇公司在新公司占31%的股份。# @& d9 S% u0 g) t' j4 M* y5 p
河南迅天宇公司成立于2005年12月，注册资本8000万元。总投资额6000万元，高文秀以其个人知识产权占25%的股份。从事物理法多晶硅的生产，是获得国家发改委首肯的四家多晶硅企业之一，另外三家为洛阳中硅、四川峨嵋、江苏顺天。迅天宇公司2007年4月曾获日本三菱公司无偿赞助1亿日圆，其董事长为高文秀博士，于2007年5月1日获国家主席胡锦涛接见。
 TIDGVC是美国数据集团IDG投资的一个风险投资公司，主要投资IT行业项目。目前管理资金达到8亿美圆，其投资合伙人熊晓鸽先生是中国创业投资协会理事长，以其多宗凌厉的投资而蜚声中外。7 N" L' A6 l( g/ I8 I/ y
目前，IDGVC正在对河南迅天宇进行尽职调查，尽职调查完成后，首期资金1200万美圆将立即到位，而第二期资金2800万美圆将在迅天宇生产出4个九的硅后立即到位。2 h, O# @* F; {, G3 S! N
[正文]
一个意向投资者也对迅天宇进行了调查。但得到了一些很不同寻常、甚至可以说令人震惊的结果。该投资者将有关结果向IDGVC做了通报，以下是该投资者给IDGVC的信中的部分内容（原文为英文，中文仅供参考）：
高文秀在迅天宇之前只从事过两年的硅研究，而不是他所声称的二十年。他没有拥有任何多晶硅提纯技术，他所有的专利都是不可能实现的。Dr. Gao Wenxiu has just two years experience on the silicon, not 20 years as he said. He has no real technology of poly crystal silicon, nor his patents were realizable., g9 N. F& n7 p& `% L6 `
2)
高文秀以声称他生产出了低硼低磷的五个九（5N）的多晶硅而得到了日本三菱公司的一亿日圆的研发赞助，但他从来没有从金属硅中提炼出来过5N的低硼低磷硅，他送给三菱的样品是用买来的化学法制备的高纯硅掺杂铸锭的。因为物理法在理论上不可能将硼降低到高文秀所提供的样品那么低，高文秀声称他采取了低硼矿石。但三菱于2007年九月派人员到迅天宇现场取样带回日本化验后，揭穿了这个谎言。 Dr. Gao got some money from Mitsubishi: a. V, {5 h% f2 I5 A
because he claimed he had method to produce silicon with low B and P( less than 0.1 ppm). But the fact is that he never produced any solar-grade silicon, even at the laboratory stage. The samples he sent to Mitsubishi was casting with the 9-10N silicon bought from a plant using Chemical method. And Mitsubishi has already known that fact in last September after they took some samples of Metal Grade silicon from the workshop of XTY by themselves and made the analysis in Japan. May Sharp did not know the truth, but they are not sure about the exact source of the samples they got from Dr. Gao.
h) @# W! @5 ?$ k
目前，迅天宇只是生产除了2-3N的金属硅。All one could confirm from Dr. Gao is that he has already produced the 2-3N MG (Metal Grade) silicon( 6-8 ton/day, among them 15% is 3N, other is 2N).
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国家发改委同意给迅天宇的资金至今未到，迅天宇目前遭遇严重财务问题。为了解救公司，南阳市政府在确认发改委批准同意给迅天宇2000万资助经费的情况下，启动财政贷款，借给了迅天宇2000万元，现在又几乎用尽。南阳政府已经开始催款。It is also heard from the local government that XTY has met a serious financial problem last year, so the local government lent 20 mil RMB emergency loan to the company after they know the company had got the 20MRMB support from the
NDRC(National Development and Reform Commission), and the local government now are urging them to return, but the 20M from the NDRC has not come to hand until now.
为投资4000万美圆所设立的条件是生产出4个九的硅，但现在中国至少有二十家企业已经能够生产出4个九的硅，而如果硼磷不低的话，四个九的硅价格只有3-4美元/公斤，与6个九的硅的价格有天壤之别。目前，6N的多晶硅已经达到了400美圆/公斤。IDGVC所投资的应是太阳能多晶硅公司，而不是4N的金属硅公司。It is said you would invest all the 40 MUSD after they made 4N silicon, but the 4N silicon was only a little more expensive than the 2N metal( 3~4 USD/KG) if the element B and P was higher than 1 ppm, far more less than the price 400 USD/KG of 6N solar grade silicon. And more than 20 factories in China could produce the 4N silicon now. I think the reason you invest the project is that they could produce the solar grade silicon, rather than metal grade.6 q/ S, W0 Q: C/ U3 a
[结语]" K: F! }8 R4 U& G' X  r
该投资者建议IDGVC在投资之前应该慎重调查。I think as professional team, you could double check the fact of the company easily and soon. Did you send any expert team to the company, to see a total production flow to produce a batch of the 4 or 5 N from silica(with low B and P), and exam the product by yourself? That would need only 3 days.   l: q9 X2 t7 J. p5 \4 j0 i
My friend in SFC advised me to notice you about these results and suggest you did a much detail due diligence work on XTY, especially Dr. Gao WenXiu.
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