My Fintech Empire

This has to mention the situation of ATL company. This company was jointly established by Zeng and Liang in 1999 at the end of the last century. It started with soft-pack lithium batteries and avoided the fierce competition of hard-pack lithium batteries.

Soft-pack lithium batteries are also more suitable for electronic products such as mobile phones and notebooks.

However, as the application progresses, the soft-pack lithium battery will appear bulging as the number of charging increases. After ATL purchased the patent authorization of the polymer ion battery from Bell Labs, it successfully broke through the lithium battery imitation after repeated charging. The fatal flaw of being prone to flatulence and swelling has successfully risen.

Since 2001, ATL has also become Apple's battery supplier.

And now ATL is also supplying Xingyu Technology. Yes, Xingyu Technology's first-generation product S1 smartphone uses the company's products, and it is also because of this opportunity that Mr. Zeng came into contact with Qunxing Capital.

If it develops according to the original historical track, with the development and growth of Apple, ATL will also become the global leader in consumer lithium batteries. Its polymer lithium batteries will rank first in the world for eight consecutive years from two years later. Apple , Huawei, Xiaomi, vivo, oppo and other well-known smartphone brand manufacturers are all customers of ATL.

But the current ATL has a problem. It is already a 100%-controlled company by Japanese capital. This is why Zeng always divested the power battery department and a core factor for the birth of the Ningde era, otherwise it will be restricted by regulations.

ATL also had investment from North American capital in the early days, but now it became a company completely exclusively owned by Japanese capital because of an incident that happened in 2005. The divestment incident triggered a change in the equity of ATL.

In the end, the former owner of the three founders, Japan's TDK Group, acquired 100% of ATL's shares for US$100 million, and thus transformed into a Japanese wholly-owned company.

Just because ATL has now become a 100% Japanese wholly-owned enterprise, it is restricted by relevant laws and regulations, and wholly foreign-owned enterprises cannot produce power batteries.

So it can only be stripped out!

At this time, Fang Hong said directly: "Do the founders provide any specific solutions?"

Sincerely intend to cooperate, you must pay some of the bottom line.

Tian Jiayi nodded, and immediately explained: "Yes, Mr. Zeng's solution has also been disclosed to Qunxing. The newly established subsidiary is called Ningde Times. At the current stage, it is definitely impossible to fully withdraw Japanese capital. Mr. Zeng's strategy is to divest first. Come out and talk about it, and buy back the remaining equity from Japanese capital in the future.”

After recalling for a while, Tian Jiayi went on to say: "Regarding the equity structure design of Ningde Times, Mr. Zeng's plan is that he will set up a company, Ruiting Investment, which will become the controlling shareholder of Ningde Times. Ruiting holds 23.33% of the shares of Ningde Times. President Zeng holds 55% of Ruiting’s equity, that is, by controlling 55% of Ruiting’s equity, he controls the relative control of Ningde Times.”

When Fang Hong heard that Rui Ting held 23.33% of the Ningde Times equity, it must not meet the standard of control rights. At least 34% of the equity ratio can be obtained. The 34% equity ratio has the most core The key right is the veto power.

Voting on major issues requires a two-thirds majority to pass, and a ratio of 34%, as long as they are opposed, means that all other shareholders combined to vote in favor cannot satisfy a two-thirds majority, which is equivalent to a one-vote veto.

Mr. Zeng let Rui Ting hold 23.33% of the shares of Ningde Times, which obviously did not reach the baseline of 34%. .

Tian Jiayi also continued: "He asked Qunxing Capital to hold at least 19% of the shares in Ningde Times, and to sign a key concerted action agreement with him."

Hearing this, Fang Hong couldn't help but smile.

With the memory of his previous life, he knows that Mr. Zeng has a very clear sense of control, and the current historical trajectory has changed. Because of the original historical trajectory, Qunxing Capital does not exist among the shareholders of Ningde Times.

According to the original historical trajectory, Ningde Times did not repurchase the last 15% of the equity held by Japanese capital until around 2015, and only then did it solve the hidden dangers of Ningde Times equity. Forward-looking and two other founders signed a concerted action agreement.

These two founders hold 4.59% and 10.61% of the shares of Ningde Times respectively, plus the 23.33% held by Rui Ting, a total of 38.53% of the shares, which greatly exceeded the baseline of 34%. The president has firmly controlled the control of Ningde Times.

Fang Hong reckoned that Mr. Zeng would definitely ask Qunxing Capital to sign a similar agreement on persons acting in concert with him. He immediately looked at the beautiful assistant and asked succinctly, "How did you agree on the concerted action plan?"

As an investor, Fang Hong has never worried about the founder asking him for control, which to a certain extent shows that the founder is strong and capable.

Qunxing Capital, as a non-bank financial company, is definitely unable to directly and concretely operate and manage a company, so it needs competent people to manage it, unless it takes control of a company and immediately kills chickens to cash out people and leave the market. No matter what the chicken feathers are.

Otherwise, a capable founder is the key, so that he can better lead the company to become stronger and bigger, so regardless of whether he is strong or not, Fang Hong is willing to hand over the control to the founder if he is capable and can lead the company to become bigger and stronger. This also allows founders to start their business with peace of mind.

After a while, Tian Jiayi stated item by item: "Mr. Zeng's concerted action agreement plan mainly requires agreement on three items. The first item is that the company's shareholders' meeting and the board of directors must maintain agreement on the right to propose, nominate, and vote on decision-making; The second is that if Qunxing Capital disagrees with his opinion, his opinion shall prevail; the third is that the agreement of persons acting in concert is valid until the date when Qunxing Capital directly or indirectly holds the shares of Ningde Times, that is, As long as Qunxing Capital holds the company’s equity, one of the two parties must be consistent.”

Fang Hong was very calm when he heard that, as expected, these three items were agreed, some history has changed, but some have not changed.

In this way, assuming that Qunxing Capital holds 19% of the shares of Ningde Times, after signing a concerted action agreement with Mr. Zeng, plus the 23.33% held by Ruiting Investment, it controls a total of 42.33% of the voting rights. Far exceeding the 34% baseline.

Moreover, if Qunxing Capital holds more shares, according to the signing of the concerted action agreement, it means that Mr. Zeng's voting rights are still above 42.33%, and his right to speak in the Ningde era can be firmly in his hands.

What's more, Mr. Zeng will definitely sign a concerted action agreement with the other two veteran co-founders.

Tian Jiayi looked at Fang Hong and said, "With regard to this project within the company, the current dispute with Mr. Zeng is the concerted action agreement."

Obviously, Qunxing Capital wants to retain the autonomy of voting rights, and if it wants to intervene in Ningde Times, it must not only take 20% of the shares. Huayu's idea is to either not intervene, or to hold at least 34% of the shares to gain control .

Because the intervention has to be a game with Japanese capital. After all, Ningde Times has not yet been established. The key point is actually ATL, and this company is currently a pure Japanese-funded enterprise 100% controlled by Japanese capital.

Tian Jiayi added: "Having said so much, what do you think of this project? Should we intervene in the Ningde era?"

Fang Hongcai is the big boss of Qunxing Capital, regardless of whether the company agrees or disagrees, as long as the big boss makes a decision, it can be settled. If he doesn't ask, then Hua Yu has the final say.

"Of course we have to intervene. I am also optimistic about the potential of new energy and the Ningde era." Fang Hong said without hesitation, he glanced at the beautiful assistant, and said slowly: "But according to Mr. , It will take several years to dispose of the shareholding structure of the Ningde era alone, and the efficiency is too slow."

Tian Jiayi couldn't help but said, "Do you have a new idea?"

Fang Hong nodded and said: "That's right, pointing directly to the root of the problem, the root of the problem in Ningde era lies in ATL company, and the root cause of ATL company's problem is that the company is now a 100% wholly-owned subsidiary of Japanese capital TDK Group .”

Speaking of this, Fang Hong turned to look at the beautiful assistant again, looked at her with a smile and said: "My solution is simple and unpretentious, let Qunxing Capital directly buy ATL from Xiaobenzi, and then buy it back. , Qunxing Capital is 100% wholly owned by ATL Company, so it will change from a wholly foreign-owned enterprise to a purely domestic-owned enterprise? Solve the problem at the root, and the subsequent problems will not be a problem.”

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