Reinventing the Millennium

“Is Washington Mutual a big bank?”

"The scale used to be relatively small, but it has developed rapidly in the past ten years. They provide housing mortgages, insurance, and financial services. Housing mortgages should be the largest proportion of the business."

"Mr. Kong, you have made great contributions to MIGI Fund. You are the number one contributor to this acquisition!"

At 3:30 in the morning in Beijing, Fang Zhuo did not hesitate to praise Kong Yu on the other side of the ocean.

Kong Yu was helpless for a while. He was almost sinking to the bottom of the Pacific Ocean before, but now he has become Mr. Kong again!

"Apple's acquisition has really helped. We have complete materials. We should be able to get the money within a week. Mr. Fang, how are you doing there?"

As he made contact with one bank after another, Kong Yu had nothing else. He had all kinds of market analysis, company development, competition judgment and other materials in hand. He felt that at this time, he could fully take charge of Yike Overseas' work. .

"There should be no problem here." Fang Zhuo was quite excited in the dead of night in the early morning. Thinking back on what he saw and heard today, he couldn't help but sigh, "I was eighteen years old, and I stood here like a slave."

Kong Yu: “???”

When Mr. Fang was eighteen, where was he standing like a minion?

Did it turn out that you had a feud with Sina for a long time?

Kong Yu didn't ask, thinking that he could end the call after announcing the news.

Fang Zhuo didn't mean to give up, and still sighed: "I remember Ma Huateng said that he was short of money and met Li Zekai. It seemed to be in Xiangjiang. The other party was surrounded by stars, like a star. The two met in a hurry and only chatted for a while. meeting."

Kong Yu smacked his lips and felt that his co-boss had been wronged today?

He said cautiously: "Mr. Fang, it's okay. They will get our help in a few days, Sina will be fine, and everyone will be fine."

Fang Zhuo became happy: "Yes, it will get better."

Kong Yu breathed a sigh of relief, expressed his heartfelt feelings to his boss again, and finally ended the call.

It's daytime in Washington, and he still has a lot of procedural matters to go through.

The next day, Fang Zhuo, who received the best news, went to Sina Wang Yan's dinner party.

There are still a few days before the shareholders' meeting, and people from different circles in Sina are exchanging feelings. This time, Wang Yan introduced Fang Zhuo to a middle-level and senior-level person in charge of specific business.

Wang Yan has his own considerations in mind. Although Yike is currently taking the position of non-executive director, and Fang Zhuo also has his own business, there may not be deeper cooperation in the future.

Now Fang Zhuo can get in touch with people on Sina, and it doesn't have to be too deliberate. It's just a casual meeting and a chat.

"Mr. Fang, let me introduce to you. This is Wang Gaofei, Vice President of our Sina Wireless business." Wang Yan saw President Yike striding towards him, stood up and introduced with a smile.

"Hello, Mr. Wang. I have long admired your name. I have admired your name for a long time." Fang Zhuo nodded and shook hands.

Wang Gaofei's handshake was very strong, and he smiled at the young CEO's perfunctory politeness. How could he have admired his name for so long?

However, this idea soon changed based on the content of the chat.

Wang Gaofei came from a serious academic background, majoring in computer science at Peking University. He entered Sina since then, first working in the R\u0026D center, and then in charge of part of Sina's wireless business.

Wireless business is an emerging field this year. Many domestic companies are exploring it, and Sina is also doing the same. However, due to some internal disputes over direction, it has not yet received the attention it deserves.

At the very least, Wang Gaofei believes that wireless business should be given top priority at the moment.

Therefore, when Fang Zhuo talked about his optimism for the wireless business and his thoughts on wireless value-added, Wang Gaofei suddenly felt that they had a common ground.

What was originally just a casual chat turned into a discussion about business directions.

Fang Zhuo has recently done a lot of work on wireless value-added, and also asked his own registration network to try to communicate with operators. Coupled with the negative consequences in the field of direction, his words are very enlightening.

There is no hesitation in saying that wireless value-added services will be the focus of the portal's profitability in the next two years.

It doesn't matter if you say this kind of judgment, because the promotion of the company's business does not lie with Wang Gaofei, or even with Wang Yan, but with the authorization of Sina's board of directors after a unified understanding.

Wang Gaofei didn't think too much, and felt that he was worthy of being on TV at a young age, and he really had something to offer.

Wang Yan felt that this small dinner was not in vain, and once again realized Fang Zhuo's ability.

As for Fang Zhuo, he also thought it was quite interesting. He didn't expect to meet his future boss on such an occasion.

The atmosphere of the dinner was very pleasant, and each of the three of them felt that it was quite rewarding.

Another day passed like this, Wang Yan once again saved a small game, and this time he replaced a middle-level and high-level person in charge of other businesses.

Fang Zhuo talked about Sina's business equally.

Unfortunately, this person's positioning is different from Wang Gaofei's. He is pragmatic but not practical, which is not the type that Fang Zhuo admires.

The dinner ended a little late this night, and Wang Yan drank a little too much.

He finally pulled Fang Zhuo drunkenly: "Mr. Fang, Sina has a big stage. I really hope I have the opportunity to work with you in the future."

This was the first time that Fang Zhuo heard such a clear request from a Sina person. He couldn't help but be moved and patted the CEO's arm with his backhand, and responded eagerly: "Definitely! Definitely!"

Wang Yan laughed and really admired this young president.

Fang Zhuo had a wonderful resonance in his heart and admired Xiao Wang very much. He felt that he was a more open-minded person.

After two consecutive days of dinner, Fang Zhuo declined subsequent invitations and finally confirmed the availability of funds and procedures.

Washington Mutual Bank didn't make any mistakes and released the loan after confirming that it was correct. Because the equity of unlisted companies is not highly liquid, the amount of money Fang Zhuo could pledge was US$15 million after a discount.

In this way, the NetEase and Sohu stocks held by the MIGA Fund do not need to be liquidated for the time being and will still be used as alternative funds to meet unexpected needs.

The team of lawyers from the New York-based Cadwalader Law Firm responsible for the acquisition booked flights and prepared to arrive in Beijing before the Sina shareholders meeting. They obtained the acquisition license from the U.S. Securities and Exchange Commission (SEC).

At the same time, the people responsible for attending the Sina Shareholders Meeting of the MIGA Fund have already sat on the flight to Beijing in advance, and they will obtain the new seats on the board of directors in accordance with the process.

As for the new directors who also reached a consensus, Yike Investment arrived in Beijing on June 8 and came to the boss's side.

This time seeking Sina's non-executive director, Fang Zhuo will not join the board of directors himself. Representatives of his wholly-owned Yike Investment will sit in this position to implement the company's will.

Soon, Fang Zhuo's hotel in Beijing welcomed waves of people. Everyone was silently waiting for the dust to settle on Sina's shareholders' meeting this year.

On June 10, Sina's 2002 Annual Shareholders' Meeting was held in Beijing.

Fang Zhuo brought people to the meeting.

The weather was nice and the mood was serious.

This mood reflected on his face made him look a little too solemn.

"Mr. Fang didn't sleep well yesterday?" Wang Yan came over to say hello, laughing and teasing the young CEO's dark circles.

Fang Zhuo smiled slightly and said a few words.

Wang Yan intended to strengthen the relationship with each other and said kindly: "Mr. Fang, let's go. That's Davis from MIGA Fund over there. I'll introduce you to him."

"I won't go. It's my first time to attend a shareholders' meeting and I feel a little nervous." Fang Zhuo declined. "This is my sister. I just sit here and teach her about company equity and other knowledge."

Wang Yan nodded, glanced at the thin girl, gave her a friendly smile and turned around to leave.

"Brother, is this the CEO of Sina?" Zhao Suqi asked in a low voice.

Fang Zhuo also replied in a low voice: "Well, he is a good man."

Zhao Suqi arrived in Beijing yesterday and had already observed some acquisition operations. At this time, when he saw the CEO of Sina who introduced Yike Investment, he didn't know his number but was in the forefront, he really felt that the reality was quite magical.

"Listen more and speak less. Shareholders' meetings are actually quite boring." Fang Zhuo said.

Zhao Suqi nodded silently. Although she heard what her brother said, it was quite strange in her eyes, especially after knowing that the MIGA Fund belonged to her. She saw people coming and going around the foreigner over there, and her own place was deserted...

It turns out that the sentence "foreign monks like to chant sutras" can be so vivid!

Zhao Suqi has a profound understanding of the word "packaging".

At nine o'clock in the morning, the shareholders' meeting of listed company Sina officially began. Duan Yongji, co-chairman of the board of directors, and Mao Daolin, president of the company, delivered speeches successively.

Sina's past situation, future development, major company events, current company stock price, shareholder proposals, etc.

After these two speeches, the executives made long or short speeches and mentioned a lot of company data.

After half a day in the morning, the speech covered a lot of information about the second quarter of 2002 that has not yet been made public.

However, the lack of explanation of the cooperation with Sunshine Culture made Mr. Fang Zhuo, the president of Yike Investment, a little dissatisfied. He expressed his attitude directly to Wang Yan at noon.

"The cash + equity exchange cooperation between Sina and Xiangjiang Sunshine Culture cost a lot. Sunshine Culture's Wu Zheng is still the co-chairman of the board of directors. Why is the effect of this cooperation not mentioned?"

Wang Yan also spoke this morning. Faced with this somewhat questioning tone, he smiled helplessly: "Many people feel that they can continue to observe."

Fang Zhuo said calmly: "We didn't talk about it at the shareholders' meeting. This is a disregard for the rights and interests of shareholders."

He added: "This question needs to be asked to Mr. Duan and Mr. Mao."

Wang Yan shook his head and said half-jokingly: "Don't ask, Mr. Duan is quite stubborn. If you ask, don't blame me for not reminding you if you fail to pass the director's proposal this afternoon."

Fang Zhuo frowned.

Wang Yan smiled: "At least today is over. After the afternoon, the proposal has been voted on. Yike Investment is a director of Sina, and it can be considered as having voting rights."

Fang Zhuo nodded: "Mr. Wang sees the same thing as me. Well, it's me, Meng Lang."

The exchange at noon did not last long. Wang Yan had something to deal with, and Fang Zhuo also had a lot to think about.

Most matters at the general meeting of shareholders are a matter of process. The work that really needs to be confirmed and discussed has been completed through separate communication in the past few days. What needs to be done now is to make these matters comply with legal principles.

The company's annual general meeting of shareholders is witnessed by a lawyer and legal opinions are issued. The resolutions formed are signed by the shareholders or representatives present at the meeting, and the minutes of the meeting are also signed by the directors and secretaries who attended the meeting.

In the afternoon, as usual, the voting on the non-executive director seats of Yike Investment and the director seats of MIGA Fund was completed in a dull manner. Fang Zhuo, as the president of Yike Investment, only appeared on stage.

The purpose is to tell everyone who this non-executive director represents.

However, as evening approached, unplanned questions arose.

A small shareholder got the microphone and asked questions to the board of directors on the stage.

"Didn't Sina cooperate with Sunshine Culture last year? Why haven't we heard the evaluation of this contract today?"

According to legal provisions, the company's directors, supervisors, and senior executives should attend the general meeting of shareholders and accept questions from shareholders. This is a protected legitimate interest.

However, this questioning made Duan Yongji, who had just spoken, become angry, and he was immediately scolded.

"You small shareholders are just here to cause trouble!"

"Can the results of cooperation be seen in a day or two? Play the piano randomly!"

"To be a media company, Sina needs to develop media content and explore new directions. Do you understand this?"

Duan Yongji's status is here, and his merciless display of attitude made the small shareholder who asked the question sit down uncomfortably.

This scene made Fang Zhuo call out "good guy" in his heart. Everyone sitting on the stage is a father, and the minority shareholder has become a son!

I don't know if it was an illusion, but he felt that Wang Yan, who was also on the stage, glanced over, as if to say, look, I said it.

Shareholder inquiries were not resolved, and the shareholders who raised the questions were resolved.

In this way, the shareholders' meeting continues.

At six o'clock in the afternoon, each resolution was signed and became legally binding.

That is to say, Sina officially added two seats to the board of directors this year, obtained by Yike Investment and MIGA Fund respectively, and still maintains an odd number of nine directors.

At the same time, there have been no major changes in Sina's management. The company's president is still Mao Daolin, and its CEO is still Wang Yan.

According to the concluding remarks of the chairman of the board of directors, Sina will consolidate its leading position in domestic portals in the next year, actively explore the attributes of online media, and strive to make the company profitable.

Generally speaking, the shareholders' meeting came to a successful conclusion in the eyes of many people.

Wang Yan originally wanted to take Fang Zhuo to have a drink after the meeting, but after chatting for a few days, he noticed the figure leaving the meeting in a hurry, thinking that the other party was probably busy, so he didn't stop.

It was a calm night, and the resolutions of Sina's shareholders' meeting came into effect quietly.

On Tuesday, June 11, the trading volume of Sina stock in the U.S. stock market fluctuated, and the stock price also rose slightly.

Near noon, Sina received a placard notice from MIGA Fund. The other party's shares jumped from 5.4% to 18.5%, making it the largest shareholder.

At the same time, Davis, the new director of the company representing the MIGA Fund, requested to convene an extraordinary general meeting of shareholders to resolve major issues involving the interests of the company and shareholders.

One day later, just one day later, MIGA Fund suddenly made an effort to aggressively increase its holdings of Sina stocks regardless of the cost, and non-stop requested to convene an extraordinary general meeting of shareholders.

Sina’s shareholding institutions, shareholders, directors, senior executives who just attended the shareholders’ meeting on June 10th were all shocked!

We don't need to communicate. Just by looking at each other's operations, we realize one thing. This MIGA fund is coming from a bad person!