So, for you, who said I was totally incorrect, what is investment for private company mean?nope, R & D is an investment and sit on the balance sheet, so your statement is totally incorrect
For me investment in private company aimed to get profit, not to be buried in balance sheet.
Example : This year SMIC have had 14 nm tech, SMIC want to produce 14 nm in H1 19 ( the sooner the better ).
Another example : If Sinopec have a new tech that can dig shale gas more efficient, will she delay using it?