Reinventing the Millennium

Outside the hotel, media reporters swarmed in. Although they didn't quite understand the situation, their professional acumen allowed their cameras to focus on a group of participants in suits and ties.

A bunch of foreigners, that's to be expected.

For several Chinese people, this is also conceivable.

But the leader looks familiar. Isn't he Fang Zhuo?

Why is he taking the lead? Why did he appear suddenly?

Some reporters did not know that one of Sina's directors represented Yike Investment and were very puzzled.

Some reporters know that a director of Sina belongs to Yike Investment, but they are also very puzzled. Why should Fang Zhuo of Yike Investment stand in front of Davis of MIGA Fund?

As for Wang Zhidong, who appeared last, reporters are very familiar with the founder of Sina. Many of them have interviewed him, and they all speculated on the significance of his presence today.

A group of people in suits and a man in a white shirt walked to the steps of the hotel.

Wang Yan, who was on the steps, had not moved since he saw the stars holding the moon. He neither greeted nor retreated. He looked at Fang Zhuo who was approaching and said firmly:

"You made the wrong choice, Mr. Fang. Wang Zhidong will never come back."

No one understands the situation faced by Wang Zhidong better than Wang Yan, a participant. In the vote for his recall in June last year, one abstained and the rest were all in favor.

It can almost be said that all directors are complicit in ousting founder Wang Zhidong.

Today, even if Wang Zhidong can take great pains to recruit Fang Zhuo and find MIGA, what can he do?

Will these two families be monolithic? Will MIGA be able to support it until the end regardless of interests?

Wang Yan sighed in his heart, feeling regretful and heartbroken that he had been betrayed but the betrayal was controllable.

Fang Zhuo said nothing when faced with Sina CEO's admonishment or warning.

He stepped onto the steps, stood at the same height as Wang Yan, and gently patted the man on the shoulder.

Fang Zhuo put his hand on Wang Yan's shoulder for three seconds.

Click click click.

Media reporters took pictures of this scene one after another. Although they still did not understand the situation, the picture of Fang Zhuo in a suit and leather shoes reaching out to take a picture of Sina CEO Wang Yan was very good, and it seemed to be representative.

Fang Zhuo took back his hand, nodded apologetically at Wang Yan, still said nothing, and walked towards the hotel.

People in suits and leather shoes followed the Sina CEO into the hotel.

The reporters patted the backs of the group and surrounded the lonely Wang Yan.

"Mr. Wang, what does Fang Zhuo mean?"

"Mr. Wang, is Wang Zhidong returning to Sina?"

"Do you support Mr. Wang?"

"Mr. Wang, what is the relationship between Fang Zhuo and Wang Zhidong?"

Wang Yan said nothing and struggled to push away the reporters. He himself wanted to know what the relationship between Fang Zhuo and Wang Zhidong was, and why they suddenly got together.

The extraordinary general meeting of shareholders is held on the first floor, the same place as last time.

Fang Zhuo led people to the conference hall with ease.

The time has just reached three o'clock in the afternoon, and the conference hall is already ready.

Two media outlets, Sina’s own reporters and reporters from CCTV Finance.

There are many senior executives, most of Sina’s middle and senior managers in Beijing.

All directors, as Wang Yan came in silently, all nine directors on the board of directors were present.

And, most shareholders or shareholders appoint agents.

Everyone in the conference hall looked serious, ready to jointly resist the hostile takeover from foreign private equity.

It's just... when Fang Zhuo came in as the leader, and Wang Zhidong in a white shirt stood out among a group of suits, many people were stunned. This seemed to be different from what they expected?

Co-chairman Duan Yongji, who was sitting on the stage, was surprised and confused as he watched such a group of people come in and saw the founder of Sina appear again at the shareholders' meeting after a year.

At this time, Wang Yan, who walked up to the stage, whispered a few words to Duan Yongji.

Duan Yongji understood.

He shook his head slightly, turned on the microphone in front of him, and in the silence, gave the other party a character, and scolded in a deep voice: "Wang Zhidong, you are so crazy that you let someone come to make a hostile takeover of Sina!"

The co-chairman's words startled everyone in the conference room.

Even Wang Zhidong, a hostile acquirer like MIGA Fund, is an enemy!

Duan Yongji didn't give Wang Zhidong a chance to speak, and looked at Fang Zhuo and Feng Bing, the vice president of Yike Investment behind him, and continued to scold: "Fang Zhuo! You are being a dog for MIGA!"

He glared at this twenty-five-year-old boy whom he had praised for being sensible two days ago, and decided to vote out the director position of Yike Investment at this extraordinary shareholders' meeting.

Duan Yongji's words were rude, but the group of people in suits at the door of the conference hall didn't say anything.

Wang Zhidong, the expelled founder of Sina, faced the complicated looks in the eyes of these familiar people and listened to the co-chairman's angry rebuke, but instead showed a strange smile.

He took a breath and said loudly: "Today is the shareholders' meeting. I am also a shareholder of Sina. Can't I come?"

Although there is no microphone, this powerful voice can be heard clearly by everyone.

Duan Yongji already regarded the founder as the mastermind behind the scenes, and said coldly: "When friends come, they have good wine, and when wolves come, they have shotguns."

This time last year, Wang Zhidong faced the sudden dismissal and rushed into the bathroom out of control. He vaguely remembered that Duan Yongji's face at that time was the same as now, but looking at it today, he couldn't feel angry at all.

He shook his head and waved to the side, and someone handed him the contract and pen.

Wang Zhidong signed his name with a "swish" sound, and handed the contract to the person from Yike Investment. Then he smiled at Duan Yongji and the directors who were watching him on the stage, took two steps back, and stood Behind Fang Zhuo.

Neither Sina nor the media present understood what this meant. What was signed? Why did you shrink back again?

Fang Zhuo also took a document, filled in a number and signed his name, and then asked someone to hand the notification letter to the stage. He watched Duan Yongji start to read it and said loudly: "Yike Investment acquired the original 16.83% shareholding." Mr. Wang Zhidong’s 1.02% shares, in accordance with the regulations of the US SEC, I wrote to Sina in person to notify.”

Duan Yongji glanced at the official letter, put it aside, and sneered: "Is the purpose of acquiring shares with ulterior motives just to be a dog for MIGA?"

He not only sincerely reprimands, but also performs to seize moral rights in front of the media.

Fang Zhuo didn't reply.

Duan Yongji felt as if he was angrily scolding Wang Situ before the battle. Then he looked at Davis from MIGA Fund and his voice slowed down: "Mr. Davis, when MIGA Fund invests in Sina, doesn't it take into account the holding value?"

"Whether it is a forced acquisition or you are bewitched by someone, the current situation is not good for MIGA."

"Do you think Sina will give in so easily?"

"What's the point of losing both sides?"

"We can sit down and talk."

Fang Zhuo let out a "tsk", he was like a "dog dog" when talking to him, but he was very orderly when talking to Davis, he was really treated differently.

An employee of Yike Investment brought back a microphone.

Fang Zhuo held the microphone and spread his words throughout the audience without speaking loudly, with an old-fashioned tone:

"I'm very happy that Mr. Duan can hold Sina's extraordinary shareholders' meeting so quickly, but I don't like the tone of your words just now."

Another director said impatiently: "Mr. Fang, what do you want to do?"

Duan Yongji ignored Fang Zhuo and still tried to talk to Davis: "Mr. Davis, what are the demands of MIGA Fund? And why do we have to convene a shareholders' meeting? I don't think the issues between us need to be so troublesome."

What troubles him recently is that MIGA Fund has always been unwilling to communicate much and only emphasizes the requirements of the extraordinary general meeting of shareholders.

Davis glanced at his boss and finally said: "The MIGA Fund has two requirements. One is to explain the cooperation between Sina and Sunshine Culture, and the other is to re-elect the board of directors."

The white man said in fluent Chinese: "This is what Mr. Fang meant."

Duan Yongji was fine when he heard the first one, but frowned when he heard the second one and yelled angrily again: "Fang Zhuo, what are you trying to do behind your back!"

This time, Fang Zhuo didn't need to speak, Davis said directly: "The MIGA fund was created by Mr. Fang. Regarding Sina's proposal, everything is subject to Mr. Fang's words."

The buzzing discussion in the conference hall suddenly became silent.

No one seemed to hear clearly what Davis said.

The MIGA fund was... created by Mr. Fang?

Hasn’t the MIGA fund been running for many years?

Many people were stunned, and then they realized the explosive meaning of this news. If the MIGA fund belonged to Fang Zhuo, then many of the previously considered private equity operation factors would have to be reconsidered!

At the same time, Yike Investment's holdings and MIGA funds combined...

Wang Yan on the stage heard Davis's words and looked at where the group of people were standing, at Fang Zhuo at the front, at Davis and Feng Bing who were one position behind, and at the group of foreigners behind. .

He was stunned for a moment!

MIGA Fangzhuo? Yike Fangzhuo?

confluence?

Where did the convergence come from? !

Wang Yan has been in contact with Fang Zhuo for the longest time. He personally introduced his Yike Investment to Sina, personally informed him of the changes in Sina's board of directors, and personally went to him to discuss temporary proposals...

He was confused, all kinds of thoughts were running around in his mind, his face was green and red, and the words he heard during many meetings resurfaced in his ears.

——"I'm thinking about building a portal website recently."

——"If Mr. Wang is ashamed of himself, then I will become the CEO of Sina and let Mr. Wang take charge of my Yike."

——"It's said that Sina doesn't comply."

Different occasions, different tones, different expressions, it’s this shameless bastard in front of them who’s riding the horse!

Fang Zhuo is not kidding!

What he wants to do is tell the truth openly and openly to his face!

In front of myself...

Wang Yan's blood surged and he stared blankly at the young president of Yike, the young founder of MIGA Fund, and the young largest shareholder of Sina.

The CEO of Sina couldn't hear clearly what the people next to him were saying or what the people below were talking about. There was lightning and thunder in his mind, and he was stringing together the pictures he saw today.

Fang Zhuo's appearance as the leading brother outside the hotel...

The smile he faced when he commented on Wang Zhidong...

His various remarks after entering the venue...

Wang Zhidong signed the share transfer contract...

All the pictures came together to form a conclusion. I had misunderstood that the mastermind behind all these acquisitions was not Wang Zhidong, the founder of Sina. He was just a knife and a card in Fang Zhuo's hand!

How could Sina invite the founder back when someone like Fang Zhuo takes over?

How could someone as despicable and tolerant as him tolerate the appearance of a titular emperor after putting in so much effort!

Got it, totally got it!

Wang Yan took a deep breath, shocked by Fang Zhuo's deliberate actions, angry by his unintentional complicity, and disturbed by the situation Sina was facing now.

The MIGA fund's shares after the additional issuance are 16.67%, and Yike Investment's current share is 17.85%, totaling 34.52%, which has exceeded the 1/3 shares required for a veto.

Sina’s largest shareholder!

The largest shareholder with veto power!

He is also the largest shareholder with the largest shareholding ever since Sina was founded!

There is also 5% of the shares that Duan Yongji introduced and changed hands...

Wang Yan understood.

Wang Yan is autistic.

Just as Sina CEO was clarifying the matter, co-chairman Duan Yongji also quickly realized the seriousness of the matter. Does the MIGA fund belong to Fang Zhuo?

Aren't MIGA Fund and Yike Investment two entities?

Then how could their two families be divided and disintegrated?

Duan Yongji's face was solemn, but as a veteran who has been around for many years, he immediately suppressed the shock in his heart and said angrily: "Fang Zhuo, did you create the MIGA fund?"

Fang Zhuo nodded easily and found a seat to sit down.

A group of people from MIGA Fund, Yike Investment, and Cadwalader Law Firm followed suit and sat down.

Duan Yongji was silent for three seconds and grasped the key point of breaking the situation: "The shareholding operations of MIGA Fund and Yike Investment are illegal. Fang Zhuo, do you think you can hide the truth in this way?"

Fang Zhuo shrugged, holding the microphone in his hand without speaking, just playing.

Lawyer Martin, who had just sat down, stood up, followed by another translator.

Martin was fluent in Chinese, but he felt it was important to maintain authority on this occasion, so he was equipped with a translator.

"I am Martin, a lawyer at Cadwalader Law Firm in New York. I am in charge of Yike's acquisition of Sina."

"As the most famous business lawyer in New York, I would like to solemnly declare that all actions of my client Fang Zhuo are operated within the SEC's licensing framework. He has made an acquisition statement to the SEC and obtained permission."

"This is an acquisition clearance letter from the Securities and Exchange Commission."

He took out the prepared documents and handed them to the stage.

Foreign lawyer, Chinese translator, official letter of permission, and a second lawyer standing up for a compliance statement.

Everything proves that MIGA Fund and Yike Investment are well prepared!

Proves that Fang Zhuo came prepared!

Duan Yongji looked at the English documents with a livid face, and he had already confirmed this in his heart. If Fang Zhuo dared to come like this today, he was fully prepared in terms of procedures.

The "Poison Pill Plan" has failed!

The private placement made Fang Zhuo’s wedding dress!

Duan Yongji unconsciously glanced at Wang Yan, who strongly recommended introducing Yike Investment to the company's board of directors. Seeing the calmness on his face, he had doubts in his heart.

The co-chairman weighed in his mind, took the microphone, looked at the young man from Yike for the first time, and said firmly:

"I will file a complaint with the SEC, Fang Zhuo, if it is true or false, it cannot deceive anyone!"

Fang Zhuo said calmly: "Appeal now, immediately, immediately."

The next moment, his voice suddenly turned cold: "Duan Yongji! As Sina's largest shareholder, I review Sina's performance over the past year and strongly question the cooperation between Sina and Sunshine Culture promoted by you!"

“I think Sina’s board of directors cannot protect shareholders’ rights!”

“I think Sina’s board of directors is harming shareholders’ rights!”

"Now, I demand that Wu Zheng's board seat be revoked immediately!"

"Immediately terminate cooperation with Sunshine Culture!"

"Immediately revoke your position as co-chairman of Duan Yongji!"

“Immediately re-elect a Sina board of directors that can protect the rights and interests of shareholders!”

"Duan Yongji, now! Immediately! Immediately!"

There were several echoes in the conference hall, and the voice of Sina's largest shareholder echoed throughout the room.

Everyone heard the request, but no one expected that the conflict would be so sharp, and no one expected that Fang Zhuo would sweep the board of directors so fiercely.

In an instant, the directors’ loud objections, the executives’ loud discussions, and the shareholders’ shocked discussions all rang out at the same time!

The conference hall exploded!

Got home, three updates tomorrow.