| Announcement of the Ministry of Commerce | | 商务部公告 |
| (No.81 [2017]) | | （2017年第81号） |
| Announcement on Anti-monopoly Review Decision concerning Conditional Approval of Concentration of Undertakings in the Case of Acquisition of Equity Interests of Siliconware Precision Industries Co., Ltd by Advanced Semiconductor Engineering, Inc. | | 关于附加限制性条件批准日月光半导体制造股份有限公司收购矽品精密工业股份有限公司股权案经营者集中反垄断审查决定的公告 |
| The Ministry of Commerce of the People's Republic of China (hereinafter referred to as the “Ministry of Commerce”) received the anti-monopoly declaration of the concentration of undertakings on the case of the acquisition of the equity interests in Siliconware Precision Industries Co., Ltd. (hereinafter referred to as “Siliconware”) by Advanced Semiconductor Engineering, Inc. (hereinafter referred to as “Advanced Semiconductor”) (hereinafter referred to as the “Case”). Upon review, the Ministry of Commerce decided to approve the concentration of undertakings with additional restrictive conditions. In accordance with Article 30 of the Anti-monopoly Law of the People's Republic of China (hereinafter referred to as the "Anti-monopoly Law"), relevant matters are hereby announced as follows: | | 中华人民共和国商务部（以下简称商务部）收到日月光半导体制造股份有限公司（Advanced Semiconductor Engineering， Inc. 以下简称日月光）收购矽品精密工业股份有限公司（Siliconware Precision Industries Co.， Ltd. 以下简称矽品）股权案（以下称本案）的经营者集中反垄断申报。经审查，商务部决定附加限制性条件批准此项经营者集中。根据《中华人民共和国反垄断法》（以下简称《反垄断法》）第三十条规定，现公告如下： |
| I. Case-filing and review procedures | | 一、立案和审查程序 |
| On August 25, 2016, the Ministry of Commerce received the anti-monopoly declaration for the concentration of undertakings concerning the Case. Upon review, the Ministry of Commerce considered that, the documents for declaration were incomplete and required the declarer (Advanced Semiconductor) to supplement. On December 14, the Ministry of Commerce confirmed that the supplemented documents for declaration complied with Article 23 of the Anti-monopoly Law, and therefore the anti-monopoly declaration for the concentration of undertakings was admitted to be filed, and a preliminary investigation was launched. On January 12, 2017, the Ministry of Commerce decided to further review the concentration of undertakings. Upon such further review, the Ministry of Commerce believed that the concentration of undertakings might exclude and restrict the competition to the market of outsourcing service for semiconductor package and test. On April 12, with the consent of the declarer, the Ministry of Commerce decided to further extend the review period. On the expiry of such extended review period, the declarer applied to withdraw the case and obtained the consent from the Ministry of Commerce. On June 6, the Ministry of Commerce reviewed the re-declaration submitted by the declarer for case-failing. At present the Case is in the extended period of further review, and the deadline is November 29, 2017. | | 2016年8月25日，商务部收到本案的经营者集中反垄断申报。经审核，商务部认为该申报材料不完备，要求申报方（日月光）予以补充。12月14日，商务部确认经补充的申报材料符合《反垄断法》第二十三条规定，对此项经营者集中申报予以立案并开始初步审查。2017年1月12日，商务部决定对此项集中实施进一步审查。经进一步审查，商务部认为此项集中可能对半导体封装测试代工服务市场具有排除、限制竞争的效果。4月12日，经申报方同意，商务部决定延长进一步审查期限。进一步审查延长期届满时，申报方申请撤回案件并得到商务部同意。6月6日，商务部对申报方的重新申报予以立案审查。目前本案处于进一步审查延长阶段，截止日期为2017年11月29日。 |
| In the course of the review, the Ministry of Commerce solicited opinions from relevant government departments, trade associations, competitors and downstream customers, understood relevant market definition, market structure, market participants and industry characteristics by issuing questionnaires to relevant parties, holding seminars and conducting field research, and reviewed the authenticity, completeness and accuracy of the documents and materials submitted by the declarer. And meanwhile, the Ministry of Commerce also engaged independent third party consultative agency to analyze and evaluate the matters of competition concerning the concentration. | | 在审查过程中，商务部征求了有关政府部门、行业协会、同业竞争者和下游客户的意见，通过向相关方发放调查问卷、召开座谈会、实地调研等方式了解相关市场界定、市场结构、市场参与者、行业特征等方面的信息，并对申报方提交的文件、材料的真实性、完整性和准确性进行了审核。同时聘请独立第三方咨询机构对此项集中的竞争问题进行了分析评估。 |
| II. General information of the Case | | 二、案件基本情况 |
| The acquirer, Advanced Semiconductor, which was incorporated in Taiwan Region in 1984, is listed in Taiwan Stock Exchange and New York Stock Exchange, and the ultimate controller is Jason Chang. Advanced Semiconductor is mainly engaged in the outsourcing services for semiconductor package and test, and a little real estate business and processing and production of electronic parts and components. | | 收购方日月光于1984年在台湾地区注册成立，在台湾证交所和纽约证交所上市，最终控制人是自然人张虔生。日月光主要从事半导体封装测试代工服务，此外从事少量房地产及电子元器件加工、生产业务。 |
| The acquiree, Siliconware, which was incorporated in Taiwan Region in 1983, is listed in Taiwan Stock Exchange and New York Stock Exchange and has no ultimate controller. It is mainly engaged in the outsourcing services for semiconductor package and test. | | 被收购方矽品于1983年在台湾地区注册成立，在台湾证交所和美国纳斯达克证交所上市，无最终控制人，主要从事半导体封装测试代工服务。 |
| Advanced Semiconductor and Siliconware signed an agreement on June 30, 2016, to establish Advanced Semiconductor Investment Holding Co., Ltd (“日月光投资控股股份有限公司”, hereinafter referred to as the “Holding Company” or “Advanced Semiconductor after concentration”). Upon the completion of the transaction, the original shareholders of Advanced Semiconductor held all the equity interests in Advanced Semiconductor and Siliconware through the Holding Company and realized individual control over Advanced Semiconductor and Siliconware. | | 日月光与矽品于2016年6月30日签署协议，将设立日月光投资控股股份有限公司（以下简称控股公司，或集中后的日月光）。交易完成后，日月光原有股东通过控股公司持有日月光和矽品的全部股权，对日月光和矽品实现单独控制。 |
| III. Relevant markets | | 三、相关市场 |
| According to the Anti-monopoly Law, the Guidelines of the Anti-monopoly Committee of the State Council on Defining the Relevant Markets and other provisions, the Ministry of Commerce has defined the relevant commodity markets and related regional markets in this Case. | | 商务部根据《反垄断法》、《国务院反垄断委员会关于界定相关市场的指南》等规定，界定了本案的相关商品市场和相关地域市场。 |
| (I) Relevant commodity markets. | | （一）相关商品市场。 |
| Upon investigation, it is found that both parties of the transaction are engaged in the outsourcing service for semiconductor package and test (hereinafter referred to as the “P&T”) with their business horizontally overlapped. The production of semiconductors mainly covers chip design, wafer fabrication and the P&T. P&T services include package service and test service. The providers of P&T services categorized into the providers of integrated design manufacture (“IDM”) and the providers of professional outsourcing services (also known as the “Outsourced Semiconductor Assembly and Test” or “OSAT”). Along with the development of the integrated circuit industry with a tendency for small size, intelligence and multi-functions, the P&T technology keeps developing and has evolved into various types of technologies. | | 经调查，交易双方均从事半导体封装测试（以下简称封测）代工服务，业务存在横向重叠。半导体生产主要包括芯片设计、晶圆制造和封测三个环节。封测服务包括封装服务和测试服务。封测服务供应商包括整合一体化制造服务（Integrated Design Manufacture， 简称IDM）供应商和专业代工服务（也叫委外封测服务，Outsourced Semiconductor Assembly and Test，简称OSAT）供应商两类。随着集成电路产业小型化、智能化、多功能化的发展，封测技术不断发展，已演变出多种技术类型。 |
| 1. It is not necessary to segment relevant commodity market based on the P&T procedures. | | 1．无需依据封测程序细分相关商品市场。 |
| The package service refers to covering the crystalline grain cut from the processed wafers with plastic, ceramic or metal to prevent them from being polluted and making it easy for package, and realizing electrical connection, signal transmission, structural supports and chip heat transfer between the chips and the electronic system. The test service refers to provision of chip testing and final test for the purpose of excluding chips with poor electronic functions to reduce the proportion of integrated circuits (“IC”) products with lost functions and wasted production cost and ensure the normal function, speed, durability and energy consumption of IC products. | | 封装服务是指对从加工后的晶片上切下的晶粒用塑料、陶瓷或金属进行覆盖，使晶粒免受污染、易于装配，并使芯片与电子系统实现电气连接、信号传递、结构支持和芯片散热。测试服务是指提供芯片测试和最终测试，目的是排除电子功能差的芯片，以降低集成电路产品丧失功能和制作成本浪费的比例，并确保集成电路产品的正常功能、速度、耐受性和能耗。 |
Although the P&T services include package service and test service, they are provided for the same customers, which are IC design and manufacturing enterprises. In the market, most P&T service providers can provide both services, and the customers usually entrust both services to the same provider to reduce the time and cost of commodity transshipment. In terms of billing, these two services are billed together rather than separately but in most cases. In addition, the difference in technology of different providers are reflected in the package rather than test, and to differentiate two services will have no substantial impact on the competitive analysis. Therefore, it is not necessary to define the market of package service and the market of test service.
．．．．．． | | 封测服务虽然包括封装和测试两种服务类型，但二者面对相同的客户--集成电路设计、制造企业。市场上绝大多数封测服务供应商可同时提供封装和测试服务，客户通常将两项服务委托给同一供应商，以减少货物转运的时间和成本。从计费方式上看，多数情况下两项服务并不分别计费，而是一并收取费用。此外，不同供应商技术的差别更多体现在封装而非测试上，区分二者对竞争分析没有实质性影响。因此，无需对封装服务和测试服务市场分别进行界定。
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