Sou Hu Cai Jing·2025-09-29 10:29Core Viewpoint - Two food companies, Jinzi Ham and Yangyuan Beverage, are diversifying into the semiconductor industry due to stagnation in their core business growth, seeking new growth opportunities [1][8]. Group 1: Jinzi Ham's Investment - Jinzi Ham announced plans to invest up to 300 million to acquire no more than 20% of Zhongsheng Microelectronics [3]. - Zhongsheng Microelectronics focuses on the development of high-speed optical communication chips and has not yet turned a profit, reporting revenue of 511,100 and a net loss of 20.37 million from January to July this year [3]. - Jinzi Ham has previously attempted cross-industry investments, including acquiring stakes in coal resources and healthcare, but these efforts have had limited success in boosting performance [5][11]. Group 2: Yangyuan Beverage's Investment - Yangyuan Beverage invested 1.6 billion to acquire 0.99% of Changjiang Storage Technology, a company involved in chip design and manufacturing [5]. - The company has also diversified its investments into artificial intelligence and new energy sectors, indicating a broader strategy to mitigate risks from its core beverage business [6]. - Yangyuan Beverage's revenue and net profit have declined significantly, with a 16.19% drop in revenue and a 27.76% drop in net profit in the first half of 2025 [8][10]. Group 3: Industry Challenges - Both companies face challenges in their core markets, with Jinzi Ham reporting a 14.73% decline in revenue and a 25.11% decline in net profit in the first half of 2025 [10][11]. - Yangyuan Beverage's core product, walnut milk, still accounts for 88.7% of its total revenue, highlighting its reliance on a single product line [10]. - The significant differences in technology, talent, and operational models between the food and semiconductor industries raise questions about the potential success of these investments [11].