"Xiao Dong, silicon wafers are our upstream products, and it stands to reason that investment is also possible.However, there are only so many customers of semiconductor silicon wafers, and the future development is not easy to say. ”After listening to Xiao Bai's introduction, Li Dong thought about it and expressed his worries.At present, there are so many IC manufacturers in the world, and everyone basically has a fixed supplier.In addition, enterprises in Europe, the United States, Japan, South Korea, and the islands do not want the development of the integrated circuit industry in the mainland, so investing in the construction of silicon wafer factories and product sales is a big problem.If it is only for the use of the IC manufacturing company of the times, it seems that this investment is not very cost-effective."
I don't think so, Xiao Dong, Mr.
Li, silicon chips are very important, and they are the pre-guarantee of our IC production.If the startup team has relatively reliable technology, I think it should be supported.Who knows if there will be any changes in the future?
We need to open up the whole industry chain. ”Xu Changqing has recently thought about this aspect of the problem, and he has seen something in the future from Xiao Baili's investment in the construction of the sixth-generation TFTLCD production line.At present, there is no manufacturer of large-size silicon wafers in China, which is an extremely unsafe factor in itself, not to mention that breaking through the production technology of silicon wafers will be of great benefit to the entire industrial chain of the times."
Well, both of you have the right opinions.I need to make a more detailed assessment when I go back, Mr.
Li, I hope you will lead the team to do this work. ”Xiao Bai did not express his position, and finally named Li Dong and asked him to be the leader of the evaluation team, responsible for dispatching personnel to evaluate the project."
Good!
I accept this task. ”Li Dong didn't talk nonsense, and expressed his willingness to do this job on the spot.After the two left, Xiao Bai continued to handle official business.Before getting off work, he called Guo Xiaodong and asked him to take time to go to his home in the evening.Then Xiao Bai left the headquarters building and returned to his home in Yinhu Graceland."
Brother Xiao, what do you think?
Got something on your mind?
”After eating, Xiao Bai and Liu Xiaoling accompanied Chenchen to play at home.Xiao Bai looked a little absent-minded, and he was distracted at every turn."
Oh, it's something.It's still the project that my parents talked about, and I'm hesitant for the time being, and I'm constantly weighing the pros and cons. ”Xiao Bai didn't hide it, and explained the truth of the matter to Liu Xiaoling."
You!
Don't think about it so much, the work will never be done, and the money will never be earned.Don't be too anxious about some things, take your time. ”Liu Xiaoling can't say too much, her understanding of the integrated circuit industry is stronger than ordinary people, but it is also limited.She always felt that Xiao Bai was working too hard, as if someone was spurring him with a whip, and he kept running forward."
Well, Lao Guo will come later, and when the time comes, you let the nanny coax Chenchen to sleep first, and the three of us will talk together."
As he was talking, Guo Xiaodong arrived.Xiao Bai and Guo Xiaodong went upstairs and came to the study.Liu Xiaoling settled down Chenchen, and then walked in."
I thought about it, if the silicon wafer project can pass the evaluation, we still have to find ways to finance it from various sources.Chenfeng Capital will lead the investment when the time comes, I don't plan to control this company, just support the other party. ”After thinking about it, Xiao Baisi decided to adopt a wide range of financing.It's not that his current funds are insufficient, but that the entire industrial chain of integrated circuits is too long, and he needs to change the way of investment."
Dong Xiao, if this financing model is adopted, then our era will not be able to control this silicon wafer company in the future."
Guo Xiaodong understood what Xiao Bai meant, but he still reminded him.Liu Xiaoling didn't wait for Xiao Bai to speak, and said first: "I think this is very good, no matter how much money we have, it is impossible to create a complete industrial chain."
Although we can't control this company, the other party is a domestic enterprise after all, as long as it can be used at a critical moment, nothing else matters. ”"Well, that's what it means.I don't intend to control this business at all, as long as I can support the other party, it will be considered a success.Xiaoling, this project will be handed over to you Chenfeng Capital to lead the investment, specifically it will fall to the side of Shencheng Company, Lao Guo, you are responsible for the implementation. ”Xiao Bai came to Guo Xiaodong tonight for this matter, he needs to use social forces to complete the financing of the entire project, not the Times Department."
Okay, I'll do this."
Now that Xiao Bai has made a decision, Guo Xiaodong will no longer be verbose.He knows that this matter is a test for himself, and he will only be recognized by everyone if he does it well.Otherwise, people will say that he, Guo Xiaodong, is on the top by his connections.In the following period, Mr.
Li led the team to start the evaluation of the project.Guo Xiaodong began to actively contact other investment companies and tentatively promote silicon wafer projects to others.Because in addition to the founder team of this project, which also includes Xiao Bai's parents, the first round of investment was led by Chenfeng Capital, and the project promotion will naturally be valued by many companies.Chenfeng Capital is currently well-known in the domestic venture capital field, this venture capital company from Silicon Valley, with a fierce vision and fierce shots, is a first-class investment company in China.Otherwise, why did Xiao Bai let Chenfeng Capital lead the investment?
To put it bluntly, if you want this demonstration effect, the possibility of successful financing will increase a lot.Soon, the evaluation of the silicon wafer project ended, and Li Dong came to Xiao Bai with the evaluation report."
Xiao Dong, according to our assessment, there are pros and cons to this project, and in general, the pros outweigh the disadvantages.The conclusion we gave is that we can invest ......"
As he spoke, Li Dong handed the report to Xiao Bai.Xiao Bai took it and read it carefully, and the report cited a lot of detailed data, and also elaborated from the perspective of industrial chain security.However, the conclusion is that it can be invested, and this one is more neutral.A good conclusion should be to invest actively, recommend investment, and a bad conclusion to be cautious investment, not to recommend investment, and so on.And this conclusion that you can invest is between good and bad, which actually shows that the disadvantages of this project are still obvious.First of all, the return on investment of the project is difficult to estimate, which means that the investment is not small.Moreover, the technical threshold of the project is very high, and Song Changlong and his team may not be able to support it.Subsequently, Xiao Bai convened a meeting of the decision-making committee.Without using the privileges, the project was passed by only a narrow margin."
Xiaoling, this project will be handed over to you.The first round of financing was led by Chenfeng Capital Shencheng Company, and Lao Guo was responsible for the specific work. ”Xiao Bai handed over the financing to Guo Xiaodong.Guo Xiaodong has already made a financing plan, and after preliminary screening, three companies were selected for the first round of investment.After making these preparations, Guo Xiaodong met Song Changlong again."
The matter of shares can be discussed, the key is how to ensure the interests of our founders?"
At Xiao Bai's suggestion, Song Changlong and Xiao Tianfang had established Hengmei Semiconductor Technology Company in the magic capital before that.The registered capital of Hengmei Technology is 200 million yuan, of which Xiao Tianfang and Liang Yufen invested 100 million yuan, accounting for 40 shares, and Song Changlong's team invested 100 million yuan, accounting for 60 shares.Now the first round of financing is based on Hengmei Technology, which needs to introduce an investment of 2 billion yuan."
Chairman Song, our opinion is that you can give your founder team 10 times the voting rights of the shares, and this ratio cannot be changed.What do you think?
”In this kind of professional company, the management must be in the hands of experts.Neither Guo Xiaodong nor investors have any objection to this."
Okay, I'm okay with that."
Next, the two sides began to talk about valuation, and the differences between the two sides were a bit big, and they failed to reach an agreement after half a month.Xiao Bai didn't pay much attention to this matter, to be honest, if it weren't for his father and mother's participation in Hengmei Technology, he wouldn't necessarily invest.This industry is too niche, but the industry threshold is very high and it burns money.If Xiao Bai is allowed to choose, he may consider it again in five years.But since there is such a fate, Song Changlong and his parents are good friends, and Xiao Tianfang and Liang Yufen have also become the founders of Hengmei Technology, so let's intervene in advance.In the end, after a month of negotiations, Guo Xiaodong and Song Changlong invested 2 billion yuan with three other investors and won the equity of Hengmei Technology 60.Among them, Chenfeng Capital Shencheng Company invested 800 million yuan, and the other three companies invested 1.2 billion yuan.Chenfeng Capital has a stake of 24.The remaining three companies have a combined stake of 36.The share ratio of Song Changlong's team has become 24, and the share ratio of Xiao Tianfang and his wife has become 16.Control of the company remains in the hands of the founders."
Dad, what position did the company give you?"
After the agreement was signed, Xiao Tianfang and his wife prepared to go to the magic capital.Before leaving, Xiao Bai set up a banquet for them in the restaurant."
I'm not suitable for a managerial position, and it's the same as before, just an ordinary mid-level technical position.Your mother is the director and deputy general manager of the company, and Lao Song is the chairman and general manager. ”The investor does not interfere in the personnel arrangement of Hengmei Technology.However, there will be financial supervision, and there will be no ambiguity in the system.Liang Yufen has been talking to Liu Xiaoling and explaining various precautions for raising children.After the two of them went to the magic capital, it was impossible for them to be with Chenchen every day as before, and they were still very worried in their hearts.Xiao Bai originally planned to let them live in his own villa in Oriental Garden, but Liang Yufen thought that it was a little far away from the factory, and the company would solve the accommodation problem.In desperation, Xiao Bai called Lin Xiang and asked him to help him buy a villa in the magic capital, which was closer to his parents' factory.This kind of thing was really a trivial matter for Lin Xiang, and he soon helped to do it.After Xiao Tianfang and his wife went to the magic capital, it didn't take long for them to live in this new villa.After the two old comrades left, the family was deserted.Liu Xiaoling has been back to China for a short time, and her mother and sister are still in San Francisco, so she very tactfully proposed to Xiao Bai that she wanted to return to the United States.