Reinventing the Millennium

If you don’t spend money, you won’t go public.

Fang Zhuo made his words clear, and the atmosphere in the board of directors became tense.

Xiong Xiaoge’s face was calm, Goldman Sachs Yassen and DCM Denton’s faces showed anger, and even Deutsche Bank’s Chelsea, who worked closely with Ice Core, frowned.

Fang Zhuo raised a cup of tea and let everyone digest the information.

He felt that it was not too outrageous to ask for money suddenly before going public. Not to mention, Dongzi and Leizi had both done this.

Dongzi forcibly acquired US$600 million of the company's equity before going public. Leizi was unknowingly rewarded with 10 billion options before going public. I'm not asking for money for myself. What's wrong with the company financing you again?

Isn’t it all for the development of the company?

Although the valuation is a bit high, the rationale is clear. It is not going to be listed immediately this year. You will all understand when the market value of the leading company increases.

Fang Zhuo put down his teacup and glanced around at the directors present.

Xiong Xiaoge coughed and received glares from Yassen, Chelsea and Denton before he could speak.

He ignored the strong emotions of these three people and still insisted on expressing his opinion: "Bingxin must be listed. Since it needs funds, of course it can obtain more funds to support development if it is listed. Mr. Fang, do you think this is the right reason?" ?”

Fang Zhuo nodded slowly, Lao Xiong was fair.

Xiong Xiaoge thought that after saying these words to show his position, he would be able to bring about some reaction, or ease the current tension and stiffness, but he did not expect that the three people opposite him were still glaring at him.

He murmured in his heart that these words were on the side of Goldman Sachs and the others.

Xiong Xiaoge pondered for a moment: "Mr. Fang, we all started investing in ice cores in 2003. No matter how ups and downs we have in these years, our cooperation has always been successful. You don't need to be angry, okay?"

Fang Zhuo continued to nod, Lao Xiong spoke well.

Xiong Xiaoge glanced back, and the three people opposite him continued to glare at him.

Hey, no, I'm just talking for you, why are you looking at me like that?

Even if you glare, you still glare at that person named Fang!

Xiong Xiaoge simply stopped talking and directly asked the three Yasens: "What do you think?"

Denton from DCM sneered: "Why are you pretending? Who doesn't know that you are Mr. Fang's entrustment?"

The reason why a closed-door meeting is a closed-door meeting is that everyone can speak out.

Even if you don’t know the past between Xiong Xiaoge and the mysterious man, you still know the relationship between the two if you look at who is the investor in the reverse takeover of IDG Group!

Denton almost cursed, your surname is Xiong, a dog owned by Mr. Fang!

The current situation of Goldman Sachs, Deutsche Bank, and DCM investing in ice cores is indispensable because of your surname Xiong!

Everyone had done their homework before coming here, and they had learned something about the previous Connors. After hearing about the designs and tacit understanding in the first two financings, they had already established a line of defense in their hearts, and how could they be shaken by a few words.

Xiong Xiaoge's face was a little confused. What do you mean? No scene talk at all?

Yassen from Goldman Sachs said slowly and sarcastically: "Mr. Xiong now holds IDG and is very satisfied. Since Mr. Fang needs money, he helped you acquire IDG. Why don't you spend the 1.5 billion US dollars now? Wouldn't everyone be happy?"

Deutsche Bank's Chelsea nodded repeatedly, making sense.

Xiong Xiaoge looked at the angry, sarcastic or teasing eyes of the three people opposite him, and his emotions rose in his heart.

The most important thing is that out of the corner of his eye, he caught a glimpse of Mr. Fang looking at him after hearing these words, and he suddenly felt a little nervous. Who was the board of directors trying to hold down in this meeting...

Xiong Xiaoge slammed the table and said angrily: "I can't kill you if I make less money!"

The eyes of the three people suddenly became the same, and the one named Xiong spoke out what was in his heart! This is just wanting to cut the flesh!

Indeed, even if you invest at Bingxin’s valuation, with its current fourth-largest scale, you will not lose money after listing, but this will definitely reduce expected profits.

If Bingxin was originally listed on the market, if it could really support a market value of 18 billion, the three companies would each be able to get at least 1.2 billion US dollars in profits after leaving the market.

With such a investment in this round, the profit was immediately reduced to single digits.

This is not cutting meat. What is cutting meat?

What's more, if the research and development of ice core technology is blocked and there are obstacles, the cost will be even greater, and you may even be trapped.

Xiong Xiaoge was angry and continued to be angry. He pointed at the vice president of Goldman Sachs and said: "Ya Sen, don't make things worse! You don't want to go public, you don't want to get money, and I, IDG, still want to get money! He DCM can still get money! Deutsche Bank still wants to get money!"

Now that the money has been trapped by the ice core, it needs to be withdrawn.

He waved his arm: "Do you really think Mr. Fang can't do this? Who is he? We are here to have a conversation today! We are not here to vent our anger!"

Fang Zhuo looked on with cold eyes. This was the reason, but his words didn't sound right.

Yasen from Goldman Sachs was not shocked by the head of IDG. He had already determined that the two of them were in front of him, and he sneered: "Okay, if Mr. Fang insists on doing things like this, then we won't go public. I think Are the options of employees at Bingxin also stuck and unrewarded?"

When Bingxin was founded, it set up a 10% option pool. This part has always been held by a third-party company and is calculated on the side of the major shareholders.

In the past seven years, not only senior executives such as Hu Zhengming, Qiu Ciyun, and Liang Mengsong had valuable options, but most employees were more or less waiting to be cashed in.

Regarding this desire, the three shareholder institutions also had serious discussions when they met and communicated. They believed that today, no matter what, Bingxin needs to be listed.

Don’t be scared by the old devil!

"Whether Mr. Fang can do things right, others don't know, and you, Goldman Sachs, don't know?" Xiong Xiaoge said condescendingly, "Or is it that you, Yasen, are not in charge of China's business, so you don't know the situation here?"

To put it simply, Goldman Sachs’ business in China has been raided by local snakes.

Yasen was irritated and stood up: "What are you barking at? Just you, Xiong Xiaoge..."

DCM's Denton, who speaks better Chinese, immediately understood his comrade's intention and helped reprimand him: "Supporting a tiger!!"

"Ah, yes! Helping the tiger!" Yasen said angrily.

Xiong Xiaoge was not afraid of the accusations from the two people, and began to remind the other party that although Goldman Sachs and DCM's investment in ice cores had not yet seen a return, they would definitely be able to obtain high profits.

His voice was high and he spoke so fast that for a time, both Yassen and Denton couldn't get a word in.

Yasen felt anxious and simply defended himself in English.

Xiong Xiaoge's English quarrel skills are also very good, and he is not timid at all when one against two.

Chelsea from Deutsche Bank listened to the quarrel between the three directors and was a little ready to make a move. However, considering the cooperation with Bingxin in Germany, he still had concerns and only silently cheered for his comrades with his eyes.

"okay."

Following the voice of the leader of Bingxin, the conference room suddenly became quiet.

Fang Zhuo heard that the three people could not come up with anything constructive in their argument.

He looked at Yassen from Goldman Sachs and said succinctly: "Since Goldman Sachs does not agree to go public, just pretend that I didn't say anything this time and let the meeting end."

"It's not that Goldman Sachs doesn't agree with the listing! Goldman Sachs doesn't agree with such financing!" Yassen protested strongly, "This is completely unreasonable and contrary to conventional financing! Goldman Sachs never agrees!"

Fang Zhuo ignored it, just got up and walked out.

Yasen didn't believe that Mr. Fang just left like this, and resisted the urge to stay.

DCM’s Denton didn’t say anything either.

Only Chelsea from Deutsche Bank suddenly shouted when Mr. Fang was about to walk out of the conference room: "Mr. Fang, Mr. Fang, are you just leaving like this? You have to give us an explanation!"

Fang Zhuo looked back: "If you don't agree, then we won't get along. Isn't that enough? If you want to go public in the future, just come to Goldman Sachs, and don't come to me."

He disappeared from the sight of the four directors without waiting for a response.

Yasen laughed angrily at these words. Is it Goldman Sachs that is blocking your listing?

He immediately said: "Fang always divides us, don't be fooled, his intention this time is too obvious!"

Chelsea and Denton both nodded and stood firm.

Xiong Xiaoge stood up helplessly and was about to leave the conference room.

"Xiong Xiaoge, where are you going?" Yasen asked.

Seeing that he didn't even call "Mr. Xiong" anymore, Xiong Xiaoge rolled her eyes and replied, "The meeting is over, let's go back to the capital."

Yasen said angrily: "Why is it over?"

"If you want to drive, just keep driving." Xiong Xiaoge took two steps and said, "Anyway, what I heard was that it was over."

Yasen quickly walked around in front of Xiong Xiaoge, and Denton from DCM and Chelsea from Deutsche Bank saw this and stood up to block the way.

Xiong Xiaoge couldn't laugh or cry: "The person involved left and you didn't stop me. Why did you stop me?"

"You have to give an explanation!" Yasen insisted.

Xiong Xiaoge frowned and said: "What do you want to explain? It's not that you don't want to merge? Now that you don't want to merge, what else do you need to explain? Don't you understand? Your plan to go public and cash out is shattered!"

The three institutional shareholders worked together to glare at Xiong Xiaoge.

Xiong Xiaoge glared back, then relied on his own strength to prepare to leave by force.

Three seconds later, he found that the battle was impossible, so he had to give up his plan to fight one against three.

In a closed-door meeting, anything can happen, and a good man will not suffer immediate losses.

What's hateful is that the man surnamed Fang walked away, and even his secretary disappeared immediately. He really didn't care about himself, right?

"What's the use of not letting me go? I'm not the majority shareholder of Bingxin, nor am I the chairman of Bingxin." Xiong Xiaoge sat down helplessly, "What do you want me to say..."

Yasen from Goldman Sachs looked at Xiong Xiaoge and expressed his opinion: "It is reasonable and necessary for ice cores to be listed."

Xiong Xiaoge understands that this is the key to everyone's helplessness.

The three companies hold a total of 33.8% of the shares, and the profits after the listing cannot be ignored.

Moreover, for Bingxin, although it is developing well now, there are always considerable risks off-market factors. Of course, institutional shareholders hope to go public as soon as possible and get out of the market as soon as possible.

Otherwise, if you have long nights and many dreams, you won’t know what kind of changes it will be.

Xiong Xiaoge estimated that Mr. Fang had exactly this plan. Otherwise, like SMIC, he would have made ice cores available in Hong Kong or the United States two years earlier. Now is the time to weave a network of interests.

The global consumer electronics market is growing rapidly, and Yike mobile phones are firmly on the front line. The domestic industrial chain can at least be linked around ice cores, and the talent team has also been attracted to a large scale...

"Mr. Yasen, I think you should talk to Mr. Fang about this. First of all, I must say that IDG holds 10.2% of Bingxin's shares. I hope that Bingxin will be listed quickly."

"Secondly, do you think that I, as an investor, can interfere with our mysterious man? Do you think that even if I relay your words to him, I can sway his decision?"

"No way, no way. Since you know what kind of person he is, why are you still taking chances?"

Xiong Xiaoge spread his hands and didn't try to leave.

Yassen, Chelsea, and Denton looked at each other in confusion. It seemed that the decision of a person like Mr. Fang was not something that a dog could make.

Denton changed his mind, but at least the dog knew Mr. Fang's truer thoughts.

He calmed down and poured out the bitter water: "Mr. Xiong, it's not that I'm embarrassing you. We have come all the way here for this meeting. We have endured the pressure for the past seven years, and yet Mr. Fang just dismissed us with just a few words? He He also threatened us and said he wouldn’t hold the meeting, so he compared his feelings with his own, what do you think we, the directors, feel like?”

"Who says it's not the case?" Xiong Xiaoge nodded in agreement and said helplessly, "There's no point in talking to me about the problem."

"You ask Mr. Fang to come over and we can talk again." Yasen made a request.

Xiong Xiaoge estimated that Fang always wanted to kill these three people, so they still had to talk. He took out his mobile phone and dialed Mr. Fang's number, but it turned out that the phone was turned off.

Yasen is a knowledgeable person and pointed out: "There is also Yi Xin."

Xiong Xiaoge frowned. After calling Yixin to no avail, he sent a message, but there was still no response.

"Chu, he didn't even reply to me! What is he doing!"

Xiong Xiaoge jumped around, feeling that both sides were unhappy.

The three of them looked at Mr. Xiong like this and still thought he was being pretentious.

"Perhaps I went to report the situation to the leader." Xiong Xiaoge calmed down a little and gave a guess.

"Then let's go together, Mr. Xiong, don't mention anything about returning to the capital. The listing needs to be discussed. This is everyone's business, not one family's business." Yasen insisted on detaining Xiong Xiaoge.

If you are unfamiliar with this place, where can you find Mr. Fang once he turns off his phone?

"Mr. Fang insists on giving us a hard time, then let him do it. When he calms down, we can talk about this matter again. We can't just let it go like this." Yasen expressed his thoughts.

He was also a little worried that if he really messed up this matter, the kind of person who could be on the list of the world's richest people might not be human.

Xiong Xiaoge pondered for a moment, and estimated that the real situation was almost the same, so he agreed to this "coercion".

The four people left the office, and their own company team was waiting outside.

Xiong Xiaoge did not act excessively. He understood that he still had to play a supporting role on this trip, and communication with these three people was also a part of it.

Bingxin's non-core factory areas are open to institutional shareholders, but Qiu Ciyun, Liang Mengsong and the senior management did not have time to ignore this group of people, allowing them to visit Bingxin and continue to visit this semiconductor highland.

The afternoon was very fulfilling, and the meal at the Bingxin Canteen in the evening was also delicious.

However, there was still no serious person paying attention.

"Mr. Fang doesn't know where to hold the meeting in the factory. We need to be determined."

The three of them determined the Juche idea and fed back the situation to the company.

Anyway, it’s just poor communication.

There was nothing to say all night, and still nothing to say the next morning.

In the afternoon of the next day, Mr. Fang suddenly got news!

Members of the Goldman Sachs trip team reported that Shanghai TV showed Mr. Fang and his leaders inspecting the ice core production line in Zhangjiang!

"He really just left us here and didn't care??" Yasen's anger was still filled with disbelief.

Xiong Xiaoge was also a little depressed about being abandoned, but facing the stronger emotions of these three people, he calmly said: "I told you a long time ago that it all depends on him. It's useless for you to push me. If you still want to wait, , then I will wait with you in Luzhou."

Deyinchels, who had always been relatively taciturn, suddenly said whimsically: "You don't know how to stand in, do you?"

The question wasn't even answered.

For my sake, Mr. Fang has already gone to work on other things...

The trio of organizations were awakened by the facts. Regardless of whether Fang Zongzong would really suspend the launch of the ice core, at the very least, he would probably delay it for a few more years based on the current situation.

Look at the medical department under his control. It is a project that has taken longer than ice core.

"We need dialogue to solve this problem instead of turning a deaf ear." Yassen expressed his attitude.

"How do we have this conversation? Mr. Fang has already said that if I go public, I'll ask you Goldman Sachs." Xiong Xiaoge helped the vice president recall Mr. Fang's decision.

It's the same thing. If you want to go public, you have to cut off the meat.

Yasen couldn't help feeling angry when he thought of Mr. Fang's tone, and stared at Xiong Xiaoge.

"See, I'm useless. To be honest, I just cut the meat this time. I didn't even know he left Luzhou." Xiong Xiaoge said, "He is a big shot, and I am just a small investor. Everyone ,wake up."

"Go to Shanghai, find Mr. Fang, and meet and chat." DCM's Denton proposed the next step that must be taken.

Hearing this, Xiong Xiaoge asked as a reminder: "Let's talk about financing first?"

The trio fell into silence again, and they should be calm in the face of intimidation.

But it also has to be decided in front of the old devil!

He is in Shencheng and I am in Luzhou. Who will show this!

After a while, Denton said vaguely: "Things are all discussed."

Xiong Xiaoge heard that this person was still lucky.

However, as he said, he was just playing tacit understanding this time and didn't get a clear card. Mr. Fang needs money, so IDG will pay some. If he doesn't need financing, he will continue to wait.

Xiong Xiaoge believes that he will be able to see ice cores on the market in his lifetime.

On the evening of October 11, four institutional shareholder teams from Bingxin arrived in Shanghai.

It was late at night. Xiong Xiaoge contacted Mr. Fang’s secretary this time and confirmed his visit to Hang Lung 23 the next day. Then he was told that Mr. Fang’s schedule was full and he could only find time to hold the second ice meeting in the afternoon of the 13th. core board meeting.

Xiong Xiaoge finalized the arrangement and did not need to tell the three directors, because they were listening nearby.

"This is the second board meeting..." DCM's Denton still felt unrealistic.

He always felt that the first time was not over yet, and in the blink of an eye it became the second time!

"Fang always informed him of his decision, not discussed it." Xiong Xiaoge advised the three directors, "If the negotiation fails this time, there is no need to worry about it in the short term."

IDG also wants to go public.

Xiong Xiaoge hoped that the negotiation could be successful this time. Even if he cut some meat, it would be okay. Unlike the other three companies, cutting meat seemed to be fatal.

The three members of the agency did not comment on the advice from Xiong Xiaoge. In any case, they were unwilling to agree to it.

When people are in Shanghai, time is suffering.

After two days of thinking, communication, and firm stance, at three o'clock in the afternoon on the 13th, Bingxin's second board meeting was held at Hang Lung 23.

Hang Lung 23 is obviously different from the Luzhou meeting.

Secretary Liu Zonghong even placed a nameplate on the table in the conference room with the name "Bingxin Board of Directors Meeting."

Faced with Mr. Xiong's doubts about this action, Liu Zonghong smiled and explained: "I did it next door, so there must be some sense of ritual."

He has a sense of ritual, and the three shareholders of the institution just kept a straight face, feeling that the situation was not easy to handle.

It would be fine if Mr. Fang only had one Bingxin company. The problem is that his Yike business has become a success. If he really decides to do this, Bingxin doesn’t know how long it will last.

Even without Yike, Mr. Fang would never be able to get ice core with his own methods.

At 3:15, the closed-door meeting was held again as Fang Zhuo entered.

Fang Zhuo didn't say hello this time and asked Yasen directly: "Has Goldman Sachs agreed to the listing of ice cores?"

Yasen felt his temples twitching when he heard this. He suppressed his dissatisfaction and said, "Mr. Fang, I must express our attitude at Goldman Sachs. The listing of Ice Core should not be a condition for financing."

Fang Zhuo looked at the other two and called by name: "Chelsea, Denton, do you also mean this?"

Denton was afraid that this meeting would end as quickly as last time, so he did not directly express his position. He just said: "Mr. Fang, when it comes to this kind of discussion about the fate of the company, I am very cautious. I think it is just a few of us talking. It’s biased.”

Fang Zhuo asked calmly: "What do you mean?"

"If necessary, we need shareholders to discuss the necessity and prospects of ice core listing together." Denton slowly but forcefully put forward shareholder demands that can be converted into formal proposals at any time.

Although the shareholder meeting will definitely increase the number of absolute parties like Luzhou State Investment, there are still two European private equity firms.

These two private equity firms are too low-key, but Denton believes that everyone should have a common position.

Fang Zhuo glanced at the vice president of DCM, reached for the nameplate on the table, took out a pen, crossed out the three words "Board of Directors" on it, and wrote the two words "Shareholders".

This became the "Ice Core Shareholders Meeting."

Denton suddenly had a bad feeling in his heart. Do those two families completely agree with Mr. Fang? Is there a similar agreement for persons acting in concert?

"Xiao Liu, go and notify the two institutional shareholders and ask them to come to the meeting." Fang Zhuo turned to his secretary and explained calmly, "It just so happens that these two private equity investors have just arrived in Shanghai. If you want to hold a meeting, Let’s drive together.”

The institutional trio moved from silence to silence.

In less than ten minutes, representatives from two European private equity firms, QT and MNG, hurried into the conference room of Hang Lung 23.

The conference table in this conference room is large, but two hook-nosed people sat directly on the seats next to Fang Zhuo, one on the left and one on the right.

"Do you need to call Luzhou SDIC? He can arrive very quickly, and we can still hold this shareholders' meeting at night." Fang Zhuo tapped the table with his index finger.

The institutional trio fell into the third silence.

Fang Zhuo looked at the expressions of the three directors and changed his tone: "As the saying goes, we have different paths and do not work together. If you insist on insisting, put aside the listing in advance. I can find a consortium to acquire the shares you hold. The valuation can give a very beautiful number, and avoid everyone getting into trouble in the end.”

The leader of Ice Core gave another way.

Yassen asked: "How to estimate?"

"Let's estimate it at US$10 billion." Fang Zhuo reported a figure.

Yasen immediately said: "Impossible, Mr. Fang, impossible! It's too low!"

If we are asked to pay, it will be 18 billion U.S. dollars, and if we are asked to take our shares, it will be 10 billion U.S. dollars. How can there be such a good thing in the world!

"The report is high, but you think it's too high! The report is low, but you think it's too low!" Fang Zhuo suddenly changed his face, "You are sincere and don't do anything! There is nothing left to talk about!"

He stood up and left, ending the not-so-pleasant second board meeting of Bingxin, oh no, the first shareholder meeting of Bingxin.