My Age of Investment

Remember [new] in one second! "The predecessor of Dahan Telecom was the Posts and Telecommunications Yamen Scientific Research Institute established in 1957. It was the first national scientific research unit established in my country to engage in postal and telecommunications science and technology research. It undertook a large number of major scientific and technological projects for the country and the former Posts and Telecommunications Yamen. .

In the 1990s, the unit responded to the national call and was divided into three parts. Some of the assets and technical personnel were reorganized into Dahan Telecom Group, which was transformed from a scientific research institution into an enterprise. Currently, the company is under the government-owned asset management of the State Council Committee management…”

In the office of Jin Mao Building, Chen Hong was introducing the past and present life of Dahan Telecom to a room full of people. It actually had a big background. It was part of the Post and Telecommunications Yamen and the Government Affairs Council. They were all key departments, which could be heard by the heavens.

In the transaction of Fuxing Semiconductor's acquisition of Huaxin International, Hanergy Capital also got a job as a financial consultant, but it was just working for Fuxing Industrial Fund to make a little money.

After receiving the message from Xia Jingxing, Chen Hong did not dare to neglect and immediately turned Dahan Telecom upside down.

Now, a group of people are gathered here to discuss how to properly resolve this matter.

After the introduction, Chen Hong suddenly said: "Although Dahan Telecom has become an enterprise, it is still inextricably linked to the post and telecommunications yamen system, including several major operators, information industry yamen, etc.

Take Zeng Caiji, the current chairman and president of Dahan Telecom, for example. He graduated from the Beijing University of Posts and Telecommunications and has served in many positions including the General Department of Posts and Telecommunications Yamen, Information Industry Yamen Design Institute, China Mobile Group, and Dahan Telecom.

It can be seen from his promotion trajectory that Dahan Telecom has a close relationship with various units in the postal and telecommunications system. "

Li Guangnan reminded aloud: "The Post and Telecommunications Yamen is a giant government. At that time, the separation of Posts and Telecommunications and the separation of government and enterprises went through twists and turns. The internal relations were complicated and the pressure for reform was very high.

Now that Dahan Telecom wants to get involved in Huaxin International's transactions, Fuxing Semiconductor needs to be cautious.

Because after the chips are manufactured, you have to sell them to customers, and these customers basically have to deal with the post and telecommunications yamen. "

Xia Jingxing nodded lightly, "I know this, but on the premise of respecting others, I also want others to respect me.

Transactions also have to be on a first-come, first-served basis, right? We have almost finished talking with the major shareholders of Huaxin International, and now they suddenly jump out. What does it mean? Deliberately causing trouble? "

Chen Hong sneered: "Maybe in the eyes of others, we are the ones deliberately causing trouble.

Dahan Telecom has been in contact with Huaxin since the beginning of the year, but the work efficiency is really impressive. For half a year, there has been no progress.

In order to introduce Dahan Telecom as a strategic shareholder, Huaxin International has given up negotiations with five PE giants including Blackstone and TPG.

Of course, foreign PE giants such as Blackstone and Texas Pacific Group also have a huge appetite. The conditions proposed are to acquire 20%, 30% or even 50% of Huaxin's shares.

There are very strong opposition forces within Huaxin International, and even from outside, who do not want foreign capital to take control of this chip manufacturer that has developed with great difficulty.

Zhang Rujing originally wanted Dahan Telecom, but the approval process of this company was very long!

Coincidentally, Huaxin International has caught up with Samsung's price reduction strategy since last year and was bloodbathed in the memory chip market, causing all stocks listed in the US and Hong Kong stocks to plummet.

Dahan Telecom's approval process has been delayed, and Huaxin's share price has been cut in half compared to the beginning of the year. If it continues for a while, it will be cut to the ankles. "

Xia Jingxing sneered. He also had this guess. It was true that Dahan Telecom was going through a fake process and was delaying it on purpose. He waited until the stock price fell to a point where it could no longer fall before buying shares, thereby saving a lot of costs.

From a business perspective, this is irreproachable.

However, it makes perfect sense for Dahan Telecom to play this way and Zhang Rujing was forced to come to find him as a foreign aid.

The reason why Zhang Rujing stepped down in the previous life was that the failure of the lawsuit between Huaxin and Gulf Power was the last straw that broke the camel's back. The huge reduction in financing amount and the excessive dilution of the original shareholders' equity were the most important reasons for the dissatisfaction of the original shareholders. .

The reason why the financing amount did not meet the target is because Huaxin was manipulated by Dahan Telecom.

In the end, they were forced to have no choice but to take the life-saving money from Dahan Telecom even though Huaxin International knew it would suffer losses.

It would be just a matter of playing tricks by investing in shares, but Dahan Telecom did not give much support to Huaxin International in the future. Some people wanted to introduce China Investment Group, which was not short of money, to give Huaxin blood transfusions, but they were strongly opposed by Dahan Telecom.

Although CIC finally succeeded in taking a stake in Huaxin, the amount of financing was far lower than expected, with only US$250 million, which was not even enough to build a new production line, let alone make a breakthrough in advanced processes.

Why does Dahan Telecom do this?

In order to ensure his position as the largest shareholder of Huaxin International, he wanted to gain access to this chip company by becoming someone's "xx capital".

Anyway, I just don’t want to invest large-scale money in Huaxin, and I don’t allow others to invest, so I just maintain the status quo, which is fine.

Focusing on the position of the largest shareholder, several major shareholders of Huaxin fought openly and covertly for seven or eight years, seriously slowing down the research and development progress. Until Liang Mengsong was recruited in 2017, they returned to the right path of pursuing Gulf Power and tracking advanced manufacturing processes.

Therefore, Xia Jingxing had no good impression of Dahan Telecom at all. Not only did it fail to meet the expectations of the people, but the company was also full of bureaucratic style.

Xia Jingxing said lazily: "Then what should we do now? We are already halfway through the conversation and hand over Huaxin International to someone else?"

"No!" A large room of people said in unison.

Xia Jingxing smiled and said, "It seems that everyone is still unwilling to give up the meat in their mouths."

Li Guangnan said: “Although I come from an institutional background, I think Huaxin International is better left in the hands of Fuxing Semiconductor and can achieve greater development.

Dahan Telecom has been tossing around the td standard bought from Siemens all day long. I think they don't have the energy to invest in the semiconductor industry on a large scale. They can only serve as a supplement to the industry chain. "

Xia Jingxing had a faint smile on his face. Dahan Telecom did not have any technical background. The TD standard, one of the three major 3G communication standards in China, was actually purchased from Siemens.

The reason why Siemens is willing to sell is because it has to compromise with China's greedy telecommunications equipment market. At the same time, they have devoted their main energy to the promotion and occupation of another more mature 3G standard, w-cdma.

Moreover, the TD standard itself has great flaws. Siemens and other international telecommunications equipment manufacturers are not very fond of it. This is the reason why China Mobile lagged behind in the 3G era.

However, a miracle happened in the copycat. The last two companies of "Great China" both benefited from following the TD standard and strengthened their strength. Only then did they become proud of 5G.

It is equivalent to 1g and 2g being purely spectators and having to endure high prices and exploitation by foreigners;

3G was purchased and then developed. Although the journey was stumbling, it accumulated domestic technology and built an industrial chain;

4G was able to catch up with the international pace, and 5G even began to threaten international manufacturers.

However, compared to Chrysanthemum Factory, Dahan Telecom's performance is much lower, and it belongs to the type that wakes up early and catches the late market.

Deng Yuanjun said with some worry: "If nothing else happens, China Mobile should be responsible for promoting the TD standard next year. What if we offend Dahan Telecom and they cause harm and China Mobile stops cooperating with us?"

Xia Jingxing waved his hand, "It's not that mysterious. The brothers are separated and each has his own business. If it's a small matter, China Mobile might help. If they really let them abandon their own interests to help Dahan Telecom vent their anger, I don't think Wang Jianyu is that kind of person. Unless he doesn’t want to progress.”

Hearing this, everyone in the room burst into laughter, and their fear of the official power was much lessened.

Xia Jingxing waved his hand and said very domineeringly: "No matter which gods come to stop us, we are determined to accept this Huaxin International. We will keep the original plan unchanged, speed up negotiations, and finalize the overall transaction plan as soon as possible.

As for Dahan Telecom, just make telecom equipment honestly. People who are half-hearted will achieve nothing in the end.

That's it, let's break up the meeting! "

Seeing Xia Jingxing leaving quickly, most people were shocked, and then they couldn't help but show a bit of worry. If they were so disrespectful, something might happen!