My 1999

Soon after watching Huang Dongsheng leave, Jiang Xiaoyang opened the door and walked in.

"Is the person gone?"

"Um."

Invite her to sit down.

"As expected, Hanhua will soon have a holding subsidiary called 'BOE'."

The beauty frowned.

"Holding?"

She thought Xu Liang was just investing a little money, but she didn't expect that he actually directly controlled it.

Moreover, she had just sold Kelong Supermarket, Kunlun Technology, and Fuhua Real Estate in order to save time with her children, but Xu Liang caused her another big trouble.

"Huang Dongsheng is a very capable person. BOE does not need to worry about leaving it to him. Hanhua only needs to send a non-executive director."

"Are you really so optimistic about BOE?"

"There are many companies that I am optimistic about, but it allows us to have peace of mind as only a financial shareholder, and it also allows us to control only a few companies."

Xu Liang poured her a cup of tea and handed it over.

"But apart from the reasons I mentioned, the most important point is that Hanhua needs such an enterprise."

"Why?"

“This year, Hanhua’s total revenue, especially from the U.S. securities market, is close to US$40 billion.

Such a large amount of money will be subject to 35% capital gains tax.

It hurts me so much.

So, we need debt to balance our finances.

BOE is the most suitable target. "

Jiang Xiaoyang suddenly realized.

"So that's your plan, but how much more debt can one BOE add to us in a year? With its current size, it will only cost 30 to 40 billion Chinese dollars."

Compared with Hanhua's revenue of nearly US$40 billion this year, this amount of debt is too small.

"What if we add another SMIC?" Xu Liang said with a smile.

The investment in chip factories is no less than that in panel factories.

Hanhua once invested US$2 billion in a tin-free factory with Hynix, and it is clear how expensive the investment in a large chip factory is.

"How much money are you going to spend on these two companies?"

"At least US$10 billion, if more, that would be great."

Xu Liangdao.

"Can BOE and SMIC be able to handle such a large amount of funds?"

"Panel factories and chip factories take at least two years from project establishment to completion, which is enough time for them to train enough qualified workers."

"What about the market? Just having production capacity won't work without a market. Moreover, Hanhua Strategic Investment Department and your Hongyan predict that U.S. subprime debt will collapse in the next one to two years, triggering a global economic crisis.

BOE and SMIC are expanding production now, and when they are completed in the future, they will just catch up with the economic crisis.

How will this capacity be released by then? "Jiang Xiaoyang said.

Xu Liang certainly knew about the global economic recession caused by the subprime mortgage crisis.

But he also knew that in order to revitalize domestic demand, China brought home appliances to the countryside, which directly stimulated nearly one trillion yuan in consumption.

In other words, BOE and SMIC can do well just relying on China's domestic demand market.

But he couldn't tell Jiang Xiaoyang about something like this that didn't happen.

"Xiaoyang, when I run a business, I either don't do it, or I do it by being the best.

Although BOE and SMIC are the largest display panel manufacturers and chip foundries in China, they cannot even crack the top five globally.

It is even far behind giants such as Samsung, TSMC, and GlobalFoundries.

If you want to catch up with them, there is no other way but to throw money at them.

They invest US$10 billion every year, and we spend US$15 billion.

If they spend 15 billion US dollars, we will spend 20 billion US dollars.

Only with unswerving investment can we become a world-class manufacturer.

When all the hardships come to an end, the market will give us adequate rewards. "

After a pause, Xu Liang continued with a smile.

"And we are well-positioned to withstand losses."

Jiang Xiaoyang thought for a moment.

"The company is yours. Since you have decided, so be it."

He stepped forward, hugged her slender waist, and kissed the beauty's smooth forehead.

"In fact, there is another very important reason for investing in BOE and SMIC."

"What?"

"Spend money."

"Spend money?"

"Don't understand?" Xu Liang continued with a smile, "As the old saying goes, the first rafters will perish first. This time we made too much money through the Tenglong Project.

Although we have used the fund shares of Pacific Fund and Qinglong Fund to appease foreign investors, we have not yet done so in China. "

Foreign countries are dominated by capital, but domestically...

The demands of those in power are different.

"Are you worried that the higher ups will make things difficult for us?"

Xu Liang nodded, "Although the Jiang family is here, they will not do anything blatantly, but this anger is held in their hearts and they will always find a place to vent it.

Give us little shoes to put on, and things that will cause us to stumble will surely increase more and more.

So in the past few years in China, we have to be a little more unlucky and lose some money, so that those who are envious and jealous can feel better.

It's more important to leave a good impression on top.

Although Hanhua has made money, it is not a greedy capitalist, but a patriotic capital that supports research and development, supports innovation, and supports domestic new technology enterprises. "

Examine the man in front of you.

"Is this all what my dad thought of when he recommended BOE to you?"

"I'm not a god, how could I think so much at once? These are all summed up when I was staying in Jiulong Valley."

Pull her to sit down.

"I used to think that 'suffering a loss is a blessing' is bullshit, an excuse for cowards to comfort themselves, but now I understand it a little bit.

Under certain circumstances, suffering a loss is indeed a blessing."

"Okay, I agree with your investment in BOE and SMIC."

"Really agree?"

Jiang Xiaoyang nodded, "What you said does make sense. In recent years, we have repeatedly made huge sums of money from the international market, and we are brilliant and prosperous.

But our foundation is too shallow.

It's time to hide our shortcomings for a while."

If Hanhua also has a century-old foundation like Goldman Sachs and JP Morgan, no, even if it's 20 or 30 years of foundation, there is no need to worry about these.

Because everyone is used to your strength.

Making money is what you should do, and not making money is an accident.

Dongdong...

There was a knock on the door.

I quickly pushed away the stinky man's hand that was playing tricks on me, and tidied my clothes.

"Come in."

It was not Li Jinling who pushed the door in, but Jiang Xiaoyang's secretary Li Xiaoya.

After saying hello to Xu Liang first.

"Boss Jiang, a reporter from Beijing TV station is here."

"I see. You receive him first. I'll be there soon."

"Okay."

"Why did you invite a TV reporter? Is there any event at the company?"

"In the past few years, we have helped more than a thousand children with leukemia through the Xu Family Charity Fund, and invested more than 500 million Chinese yuan in charity funds.

It is almost the highest among all private charity funds in China.

So I plan to promote it and let everyone know that our Xu family is not a black-hearted capitalist, but a patriotic capital of charity."

After saying that, he glanced at Xu Liang.

"You are not the only one who can see the potential crisis of Hanhua."

"Haha, of course. My wife is so beautiful and smart. She must have a plan and a plan. Oh, how lucky I am to marry such a smart wife.

Not only does she have a stunning appearance, but she also has wisdom comparable to Zhuge Liang..."

"Okay, okay, you've given me goose bumps when you said something good."

Stand up and walk out the door.

"I'll be busy."

As she spoke, the corners of her lips curled up slightly, and a smile appeared on her pretty face.

"I'll cook tonight and go home early to eat."

Xu Liang said.

"Got it."

Bang...

The door closed, the beautiful figure disappeared, and Xu Liang retreated tactically.

"Sure enough, women need to be coaxed."

Pick up the BOE information on the table.

Huang Dongsheng did not take it away when he left.

BOE is not just a panel business as the outside world thinks.

It also has a display OEM company under its umbrella - TPV Technology.

The two sides cooperated very early.

On August 19, 1997, BOE and TPV Technology jointly established Oriental TPV.

The total investment of both parties was US$29.93 million, with a registered capital of US$26.5 million, and the investment ratio was 52% for BOE and 48% for TPV.

In the years when BOE was expanding its LCD empire, TPV Technology was undoubtedly its closest partner.

At the same time, TPV Technology also expanded rapidly with the growth of BOE.

By the end of 2005, TPV Technology had established a global marketing system, with customers including HP, Dell, Siemens and other world consumer electronics giants.

CRT monitors, with a production and sales volume of 29 million, ranked first in the world.

LCD monitors ranked second in the world with a production and sales volume of 6.2 million.

Annual sales exceeded US$3.4 billion, with a net profit of US$175 million.

With its growing strength and influence, TPV Technology was no longer satisfied with just OEM.

It began to build its own display brand.

In order to seize this most important downstream enterprise, BOE spent more than HK$1 billion in August 2003 to acquire 26.36% of TPV Technology's shares, surpassing the Taiwanese Pan Group to become the largest shareholder of TPV Technology.

The closer the two parties are, the higher the business correlation is.

From 2003 to 2005, TPV Technology and Dongfang TPV purchased TFT-LCD panels from BOE for US$1.24 billion, US$1.58 billion and US$1.547 billion respectively.

In the first quarter of 2006, the amount of TFT-LCD panels purchased by TPV Technology from BOE accounted for 18% of BOE's TFT-LCD business sales revenue.

If Xu Liang had not participated, BOE would have put TPV Technology on the shelf soon to make up for the losses.

"We should have taken more shares of TPV, at least to have a controlling stake."

Enterprises that connect upstream and downstream are not easily strangled by others, and they can also extend their business lines and gain more profits.

The best example is Samsung.

With the industry chain that connects upstream and downstream.

Samsung has directly become the top player in the global consumer electronics field.

Even Apple, which is more powerful than it, is far inferior to it in terms of product range and breadth.

Unfortunately, Kunlun has not grown up yet. In the first quarter of 2006, the combined sales of PCs and laptops exceeded 1.2 million units, of which the domestic market accounted for 65% and the Southeast Asian market accounted for 32%.