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摘要：半导体行业有个绕不开的现实：从芯片设计、工艺验证到量产落地，动辄数年持续投入，前期几乎无稳定营收，核心资产是专利图纸与研发团队，厂房、土地这类传统抵押物寥寥无几。
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Notice: The content above (including the pictures and videos if any) is uploaded and posted by a user of NetEase Hao, which is a social media platform and only provides information storage services.
