Reinventing the Millennium

“On August 29, Sina held another extraordinary shareholders’ meeting, this time in response to the request of former Sina co-chairman Duan Yongji.”

"Two months ago, a battle for control broke out at Sina. Duan Yongji was dismissed from his position by the board of directors. Today he made two demands: re-election of the board of directors and removal of Fang Zhuo."

"However, when Sina President Mao Daolin suddenly resigned, Fang Zhuo successfully persuaded the shareholders present to be elected as Sina President by virtue of his outstanding achievements after joining Sina."

"At the same time, the management represented by Fang Zhuo proposed a new list of directors, which was approved by shareholders' vote."

"Both of Duan Yongji's demands have failed, and his supporters have also been eliminated from the board of directors. It is not yet clear whether he will sell his shares."

"The extraordinary general meeting of shareholders has come to an end, and Fang Zhuo has won a comprehensive victory in the battle for control, ushering in another era for Sina."

"Our reporter tried to contact Duan Yongji, but the latter refused to answer all calls from the media."

"Two months ago, no one could have imagined that he would leave Sina in this way."

"Just like last June, no one could have imagined that Wang Zhidong would be eliminated in that way."

"With the reelection of Sina's board of directors this time, a leadership combination has been formed with Fang Zhuo as president and Wang Yan as CEO. Miraculously, the two of them combined are two years younger than Duan Yongji."

"We have no way of knowing where such a young partner will lead Sina, the most famous portal in China."

"Time will tell everything, best wishes to Sina."

——Online report from Xinmin Evening News.

…

"On August 29, Duan Yongji, a big boss who has always been good at strategizing and capital operations, was defeated."

"What's surprising is that he fell into the hands of a young man."

"Duan Yongji is one of the most famous entrepreneurs in Zhongguancun, but at heart he is quite a bit of a gambler. He is good at power and loyalty. He has ups and downs, mixed reputations and reputations."

"In 1989, Stone Group was in turmoil. Duan Yongji and Shen Guojun, then president, fought openly and secretly. In the end, Duan Yongji became president in 1991 and has been in control of Stone Group for eleven years."

"If Sitong Group has gradually made Duan Yongji more proficient in his political methods, then Zhongguancun Technology's CDMA project is a gambling-style harvest of his capital operation."

"To this day, there are still unsolved mysteries about Duan Yongji's use of Zhongguancun Technology to promote CDMA and its illegal guarantee financing, but he himself has undoubtedly reaped dazzling benefits."

"Going back to the protagonist of this incident, Sina.com, the most prestigious portal website in China, was also established under the promotion of Duan Yongji. However, in June last year, Duan Yongji abandoned his old partner Wang Zhidong and relied on the capital alliance with Sunshine Culture to control This company is listed on the US stock market.”

"Sina looks no different from Stone Group and Zhongguancun Technology that Duan Yongji once controlled. But what is shocking is that this time he encountered a difficult opponent - Fang Zhuo from Yike Group."

"According to the information we have, Fang Zhuo was extremely patient in weaving deadly traps for his prey. This process lasted for half a year or even a year."

"Not only did he use different companies at home and abroad to confuse Duan Yongji's judgment early on, he also used the trading rules of the U.S. securities exchange to lock up Duan Yongji's short-term equity operation space."

"Merely relying on capital operations is not enough for Fang Zhuo to take over Sina. He seems to have the skill of 'repaying him with his own way' in Jin Yong's novels. He uses power and strategy to divide and disintegrate Duan Yongji's Sina alliance."

"We are unable to know more of the inside story, but the appearance of Wang Zhidong, the betrayal of his ally Wu Zheng, and the defection of his partner Jiang Fengnian all demonstrate Fang Zhuo's political operations."

"Perhaps, we have also forgotten a figure. Sina CEO Wang Yan, who was generally considered to support Duan Yongji before, 'let the storm rise and sit firmly on the Diaoyutai' after this turmoil, successfully became Sina's second most powerful figure."

"As soon as Sina's first extraordinary general meeting of shareholders was launched, Fang Zhuo surfaced. How did he hook up with so many Sina generals in a short period of time?"

"What kind of deal do they have?"

"Perhaps, we will never know, we can only be sure:

This time, Duan Yongji was completely defeated. "

——Sohu Finance's special report "This time, Duan Yongji failed miserably".

…

"Hello, audience friends, this is "Financial Lang Xianping", I am Lang Xianping."

"A very interesting thing happened recently. Everyone knows about Sina, right?"

"I won't go into details about this process. There have been many reports and analyses."

"Let's talk about Fang Zhuo, who has completely mastered Sina. He is already the president and director legally recognized by Sina's shareholders."

"According to my judgment, Fang Zhuo is not far away from the position of chairman of Sina. The current chairman Jiang Fengnian, the Taiwanese capital he represents, does not mind ending the investment at a reasonable price."

"The position of chairman of Sina does not need to be approved by the shareholders' meeting, it only needs to be approved by the board of directors."

"It is estimated that within half a year, we will see Fang Zhuo add the title of Sina Chairman."

"Fang Zhuo, a young man, lives up to his name. He is outstanding and excellent. He is so good that the old fox Duan Yongji abdicates his position in favor of others."

"Of course, this old fox struggled a bit in the middle and used many methods. Just like August was not bad, public opinion made a lot of criticism and attack on Fang Zhuo himself in July."

"There are many well-known figures in the business community here. All of them have backgrounds and extraordinary influence."

"Anyone else would have to think carefully about this situation, but this time it was Fang Zhuo."

"Why is Fang Zhuo special?"

“Some viewers may have heard of his name, and some may not know him, but may have used his products.”

"I'm not talking about his music player, I'm talking about the registration website he founded when he debuted."

"Fang Zhuo's registration website didn't make any money from you, but there is one thing he is famous for in this circle, that is, when faced with nearly ten venture capital institutions, he couldn't even get a bite out of his mouth. Willing to vomit.”

"Investment institutions, you have to know that entrepreneurs see investors like a mouse sees a cat."

"But Fang Zhuo stood up and earned the money! It's quite impressive!"

"Viewers may want to ask, can't investors get their money back through legal means?"

"This also involves a legal order of claims. Fang Zhuo immediately spent the investment money to buy land, and then mortgaged the land to the bank in exchange for money. The investor had nothing to do."

"Just one thing can tell you what kind of person Fang Zhuo is."

"None of those business tycoons, those senior celebrities, those criticisms, those verbal attacks, can scare him."

"Fang Zhuo won't let go once he bites it. Duan Yongji feels the pain in his heart this time."

——Excerpts from the latest program of "Finance Lang Xian Ping".

…

It's September, the third autumn, and an eye-catching event in China's Internet industry has come to an end. Sina, the leader of the three major portals, has a new president.

What is different from the past is that this president is also Sina's largest shareholder ever.

According to popular judgment, the controller holding 34.52% of the shares can easily have solid control over the company.

Therefore, with the spread of Sina's talk to the industry, the most straightforward title of the new president is gradually circulating in the world.

——Fang Sina.

Equally famous are representatives of the Chinese Internet industry such as Zhang Sohu, Ding NetEase, and Ma Penguin.

This year, Fang Sina is 25 years old, Ma Penguin is 31 years old, Ding Netyi is 31 years old, and Zhang Sohu is 38 years old.

I’m too busy on Monday, so I’ll continue my coding sessions and post two chapters tomorrow morning.