1991 Starting from the core

What should a company do if it is short of money? Of course, it's either financing, losing the car, keeping the coach, or selling assets or shares.

It's just that what ordinary companies, especially companies that rely on cash flow for development, fear most is that others say they have no money - because that will arouse suspicion among supply chain partners, and the capital chain may be broken suddenly.

But Yuanxin is not afraid... because Yuanxin's debt ratio is not high, and almost all of it is operating liabilities. There is not a single bank loan or anything like that - branches of several major banks have almost crossed Yuanxin's threshold. , Yuanxin all said, "Sorry, we are not short of money for the time being."

After all, it is a leading semiconductor company.

Releasing the news of lack of money is nothing more than a reasonable excuse to reduce its holdings in Newbook.com.

As Asian capital continues to flee, Nasdaq has ushered in a small climax. Newbook.com's stock price has been rising steadily, and its current market value is approaching US$40 billion.

Yuanxin, currently the largest shareholder, still holds close to 40% of the shares after several dilutions and follow-up investments.

In other words, the market value of Newbook.com's shares held by Yuanxin at this time is nearly US$16 billion.

However, market value obviously cannot be equated with cash.

Either find an institution to take over, or reduce holdings in the secondary market. Otherwise, it's just a string of numbers.

However, SEC (Securities and Exchange Commission of Country M) stipulates that in the secondary market, after the lock-up period, the amount of shares that can be sold every 3 months cannot exceed 1% of the issued shares of the same type or the maximum average trading volume within 4 weeks. , and must report to the SEC in advance.

In addition, Yuanxin wants to reduce its holdings more than a little bit... Therefore, it is necessary to find a successor.

…

Su Yuanshan and Ye Rudai were walking in the software park.

Today is the last day of the Spring Festival holiday, and many employees have already returned to work early. In addition, the development zone originally had the idea of ​​turning this place into a new technology city. Various supporting facilities and commercial and residential buildings have been under construction, so the software park is not deserted. At least it is better than Yuanxin Technology opposite, which only has on-duty staff. The garden is much more lively.

The two of them walked and stopped under a newly built business building. Ye Rudai looked up at the huge gilded eso.com sign on the top of the building and let out a sigh of satisfaction.

"After this year, our domestic development will accelerate." Ye Rudai put her hands in her pockets and continued to kick the fallen leaves on the street: "But I can't leave there, so I can only send someone to take care of it. "

Su Yuanshan smiled nonchalantly and said, "Just send it. At worst, I'll keep an eye on it for you."

Ye Rudai's eyes flashed, and she raised her eyebrows as if to wink at him: "Did you say that?"

"Uh... I'm just talking." Su Yuanshan chuckled: "As you know, Yuanxin has a lot of things going on this year. On the one hand, we are waiting for the policy, and on the other hand, we are sharpening our swords... everything is blooming."

"...But when it comes to staring, you really want to help me keep an eye on him to see how he is doing." Ye Rudai paused and said, "This person's name is Li Yanhong. He graduated with a master's degree from Fabbro. Before. He has been engaged in information and data analysis at Dow Jones on Wall Street, and he has a deep understanding of search technology..."

Ye Rudai was talking to herself, completely unaware that Su Yuanshan's expression became extremely exciting.

"Hey, are you listening?"

"Listening." Su Yuanshan came back to his senses and laughed: "Okay, okay, just let him come back!"

"Do you know him?" Ye Rudai was surprised.

"I don't know." Su Yuanshan thought more than "knowing"...

"But since you think his skills are good, then it's no problem." Su Yuanshan kept shaking his head and smiling, but finally couldn't hold it back and murmured.

——Farewell, Baidu.

According to Li Yanhong's character, he should be looking for opportunities to come back and start a business. But in this life... his thoughts and ideas have been realized by eso in advance.

eso now holds two patented technologies, page evaluation and hyperlink analysis, which have almost blocked the way of all other search engines - at least, technically, no one can compete with it.

Ye Rudai didn't pay attention to Su Yuanshan's details and continued: "Lao Li has a good understanding of technology, especially in hyperlink analysis."

Su Yuanshan said in his heart of course! You just stole someone else's patent...

"In addition, he was originally willing to return to China, so we decided to let him come back to open up the domestic market."

Su Yuanshan patted his chest: "Well, don't worry, I'll keep an eye on you."

Yes, you really need to keep an eye on it! Otherwise, this guy might be up to something.

*

*

The Spring Festival passed quickly. After the holiday, Yuanxin held its first executive board meeting after the Lunar New Year.

If we count from January, this month, the technical bosses of Yuanxin are really not doing anything serious. They are either in meetings or on the way to meetings.

Such an intensive meeting also reflects the importance Yuanxin attaches to this year.

"Although we still don't know when the national policy will come out and what it will look like after it comes out, or in other words, whether the policy comes out or not, we can't wait any longer."

Su Yuanshan sat on the main seat.

——Everyone knows that the pressure this year is particularly high, so no one is willing to be the chairman of the executive board this year, until Su Yuanshan finally raised his hand.

The reason is very simple. This year is indeed particularly important. Su Yuanshan hopes to cut things off quickly and directly host the meeting himself to control the rhythm.

"At the beginning of the year, we made a simple estimate of the areas we would invest in this year."

Su Yuanshan picked up the tea cup and took a sip, then licked his lips, and then looked at everyone, especially staying on the faces of Carter and Zhou Xiaohui for a few seconds.

"The first step is to build an 8-inch wafer fab in Tianjin. Last year, the local government gave us a strong welcome and said that everything is easily negotiable. But as for TI, they still have not considered it. Their financial situation is insufficient. We will continue to invest and invest in Deyuan to support it. So we have no choice but to invest one billion US dollars in Deyuan and Yuanxin."

"The main function of this wafer fab is to provide chip supply to the industrial system in the Beijing-Tianjin-Hebei region, shorten the supply chain time, and reduce costs."

"The second step is to expand the existing scale in the Special Economic Zone and Shanghai Stock Exchange to cope with the rebound after the semiconductor downturn. The estimated investment scale is US$800 million."

Su Yuanshan turned to the next page of his notebook.

He frowned slightly, feeling a little confused.

"Next is the LCD panel industry." Su Yuanshan glanced across the audience and saw that Chen Jing's brows were frowning more deeply than his.

"LCD panels are an important component of products in the digital age and are also a major component of home TVs. I won't go into details on this point. In addition to promoting the technology and production capacity of LCD panels, we must also vigorously promote the development of TVs and monitors. use."

"So, BOE alone cannot push it forward."

"After discussing with Fujitsu and Sony, Sony wants to follow, but Fujitsu's financial situation is not very good..." Su Yuanshan paused and said: "It means that if BOE is to have a voice in the global LCD panel market If we don’t have the right, we can only take the approach of Deyuan and build two more LCD panel production lines, with an estimated investment scale of US$1.3 billion.”

"If the national policy does not come down, we still need to push TV manufacturers to fight with plasma."

Speaking of this, Su Yuanshan took a long breath.

Since Pioneer launched a home plasma TV last year, in just a few months, Panasonic, Hitachi and even Sony have not been far behind and have launched their own plasma TVs.

Not only do these companies launch products, they also continue to promote plasma TVs, claiming that they are the perfect solution for the next generation of TV screens.

Although Kutaragi Ken was not too dizzy, he did not put all the treasure on the plasma panel like other companies.

But when you blow, you still have to follow the blow.

——Don’t tell me, some people really believe this.

Plasma, just by hearing its name, reveals its superiority. You must know that this thing was not first used in televisions, but in science fiction works.

Anyone with a little bit of sci-fi memory has heard of the plasma cannon. It is positioned as the ultimate weapon.

Now that the technology of the ultimate weapon is used on televisions, let me ask you whether it is awesome or not.

Of course, this is also true. The technology of plasma TV is indeed awesome. Not to mention anything else, just one full-angle vision can rub the LCD TV on the ground.

If it weren't for the people of Ni country still holding on to the old-fashioned mentality of eating alone and making the industrial chain more and more closed, it's still unclear who will win.

Everyone was silent.

Even Zhang Rujin, who is the most enthusiastic and radical about factory expansion, feels that this counter-cyclical investment is a bit ambitious.

"We need to reaffirm our belief that LCD panels are the future. Don't look at the plasma faction's current appearance of being a villain. In less than ten years, LCD panels will be called daddy."

Su Yuanshan waved his hand vigorously: "So, the LCD panel line must be built. If the state does not support it, we may have to support the materials field."

After speaking, Su Yuanshan continued to lower his head and glanced at the notebook.

"The end is the point."

Su Yuanshan grabbed the pen and held it tightly in his hand: "We will sign a strategic cooperation agreement with SK at the end of this month. By then, we will build a wafer fab with SK in the Jingren Industrial Zone, mainly focusing on flash memory particles and DRAM."

At this time, Li Mingliu glanced at everyone and found that no one asked questions. He raised his eyebrows and asked, "Does anyone between us and SK have the DRAM process technology?"

"No, but modern electronics do."

Su Yuanshan looked at the crowd: "SK Telecom has conducted preliminary negotiations with Hyundai Electronics, and the progress is going very smoothly. Hyundai Group has been greatly affected by the financial crisis. In addition, the semiconductor winter has arrived, and the price of DRAM particles has plummeted. In a very difficult moment, Hyundai Group has the idea of ​​​​cutting off its own hands."

"At the same time, LG Electronics' semiconductor department is also in dire straits. If these two acquisitions can be completed, then the only enemy in the semiconductor battlefield in the future will be Samsung Electronics."

After speaking, Su Yuanshan put down his pen: "The only trouble now is that it is said that the Bangguo government doesn't like our intervention very much."