New Year's Day.Xiao Bai called several times, and finally got Tian Chunxiu to agree to rest for a few days.So, together with Tian Chunxiu and Liu Xiaoling, he flew to Switzerland with the two little guys.Shencheng is located on the coast of the South China Sea, the climate is warm and humid, but there is no heavy snowfall.If you want to see the snow scenery and ski, you can either go to the great northwest or northeast of China, or go to Switzerland, which is known as the world's ski resort.During the flight, Xiao Bai and Tian Chunxiu sat there drinking coffee and chatting, while Liu Xiaoling was concentrating on processing documents."
Ah Bai, why is Lingling so busy now?"
The two little guys were watching a movie, Tian Chunxiu pointed at Liu Xiaoling, a little confused.Now the domestic economy is developing rapidly, there are many investment opportunities, and she is negotiating more than a dozen investment projects recently.Can you not be busy?
”Xiao Bai smiled, in the past few years, the investment hotspots have continued, coupled with his conscious guidance, whether it is Chenfeng Capital or Liu Xiaoling's foundation, they have ushered in the best opportunity for development.If you miss these outlets, it will be more difficult to make money in the future.Tian Chunxiu smiled and nodded, her eyes scanning Liu Xiaoling's body back and forth.Her current expansion plan still needs to continue to invest funds, and she has to ask the rich woman to invest more money in her project.Everyone took time to rest during the trip, and arrived in Switzerland in the evening.Successfully checked into the hotel, everyone had dinner in the hotel's restaurant.Then Xiao Bai asked Tong Wanqing, is there anything urgent in China?"
Dong Xiao, there is no official business that must be handled by you for the time being."
Tong Wanqing smiled and shook her head, Xiao Bai came out on vacation and had already handed over most of the power to the decision-making committee.Generally not something very important, and no one will bother him.Xiao Bai put down his mind and planned to play here for a few days with peace of mind.The next morning, the group took a vehicle to the ski slopes on the mountain.All morning, everyone had a great time.Especially the two little guys, I don't know how many rolls in the snow, but they still enjoy it.Afternoon.Xiao Bai and the others came down from the mountain and returned to the hotel."
Let's all take a break, and then let's go outside."
Xiao Bai is also in a good mood today, coming to this icy and snowy world, it seems that all the busyness is far away from him, and his body and mind are very relaxed.After dinner, Liu Xiaoling stayed in the hotel.She has a lot of things to do during this time, even if she goes out on vacation, she still maintains close contact with the country, and has to deal with urgent official business at any time.Xiao Bai and Tian Chunxiu opened a hotel and went to the café outside to sit.When they returned to the hotel, the two little ones had already slept, and Liu Xiaoling was waiting for them to come back."
Brother Xiao, Xiuxiu, I need to go back early for the time being."
Just an hour ago, Liu Xiaoling received news that there was a problem with an important investment that was being negotiated.The domestic team couldn't deal with the sudden situation, and Liu Xiaoling decided to go back and deal with it herself after repeated measurements."
Is there any mistake?
I finally came out for New Year's Day, but you have to go back early.Is there anything that can't be delayed for a little two days?
”Tian Chunxiu rolled her eyes, very dissatisfied with Liu Xiaoling's decision."
Forget Xiao Tian, Xiao Ling must have something important, otherwise she wouldn't be able to rush back in such a hurry.Xiaoling, I'll ask people to apply for a route right away, if it doesn't work, you can only take a flight back to China. ”Xiao Bai didn't ask Liu Xiaoling about specific things, he basically didn't interfere in the operation of the foundation, and at most gave the other party some guidance on the direction of investment."
Brother Xiao, Xiuxiu, I'm really embarrassed.After I go back, let Chenchen and Ziyu play with you for a few more days. ”Liu Xiaoling didn't explain, but just apologized.Tian Chunxiu wasn't really angry, so naturally he wouldn't say anything more at this point.Fortunately, the application for the route went very smoothly, Xiao Bai used his business jet to send Liu Xiaoling back, and the plane would pick up a few of them in a few days.Subsequently, Xiao Bai, Tian Chunxiu and others played in Switzerland for two days, went to Paris again, and returned to China after five days."
Xiaoling, has the matter been resolved?"
Seeing Liu Xiaoling again, Xiao Bai found that the other party's face had an obvious tired look.Before going to bed, he asked a special question."
Not yet, you know that I am ready to participate in the first round of financing of Zhaoming Technology.Originally, everything was discussed well, but an international venture capital institution was killed halfway through, and now the valuation needs to be redetermined, and my side needs to pay a greater price. ”Liu Xiaoling shook her head, indicating that the matter had not yet been finally resolved."
Zhaoming Technology ......"
Xiao Bai heard the name of this company and muttered for a while.The company is not technically a local company, its headquarters is registered in Silicon Valley, but in the past two years, the company has moved most of its personnel and assets to the mainland, and the company's main business is to design mobile phone chips."
And what are their conditions now?"
The scale of Zhaoming Technology is not large, there are many bright spots in technology, and in Xiao Bai's memory, this company will become one of the top ten chip design companies in the world in the future.But now it is unknown."
Zhaoming Technology originally promised me that as long as I invested 50 million US dollars, I would give me 20% of the equity, but now it has become an investment of 100 million US dollars, and the proportion of shares is still 20%."
If it weren't for Xiao Bai's optimism about the field of chip design, especially in the field of mobile phone chips, Liu Xiaoling would not be willing to invest in Zhaoming Technology.Now because an internationally renowned limelight company has extended an olive branch to Zhaoming Technology, the other party's appetite has increased, and the company's valuation has also risen."
This matter still needs to be decided immediately, 100 million US dollars is 100 million US dollars, you hurry up and finalize the agreement with the other party."
Xiao Bai feels that this valuation is acceptable, and the purpose of investing in companies is to look at the long-term, not to look at some things at the moment.So, he made an exception to help Liu Xiaoling make a decision."
Well, I'll go talk to them myself tomorrow."
Liu Xiaoling reluctantly agreed, this is still for Xiao Bai's sake, under normal circumstances, she would not go against her own man.In the following period, Liu Xiaoling quickly reached this round of financing agreement with Zhaoming Technology and another international venture capital company.The venture capital company under the Liu Xiaoling Foundation and the international venture capital company invested $100 million in Zhaoming Technology and obtained 20% of the equity of Zhaoming Technology.For Xiao Bai, there is no plan to take Zhaoming Technology under its umbrella for the time being.The Times Department has its own chip design company, and Zhaoming Technology at this stage is still a little far behind.This is not a matter that deserves his special attention.At this stage, the development of the entire era system can be described as changing with each passing day.But beneath the surface of prosperity is not without its worries.Xiao Bai was still worried about the affairs of Times Optoelectronics during this time.This morning, Xiao Bai sat in the office, holding the latest issue of the business compilation, and had been frowning and silent for a long time.The latest news shows that Dongfang Technology and PADA Electronics will jointly build an 8.5 generation TFT-LCD production line, and there are rumors that Wang Bin is planning to build a 10.5 generation TFT-LCD production line."
Dong Xiao, Mr.
Shang is here."
Just when Xiao Bai was wandering out of the world, Tong Wanqing walked in lightly and whispered."
Oh, please come in."
Xiao Bai came back to his senses and responded.Shang Liancheng was outside the office door, Tong Wanqing invited the other party in, and she went to arrange for someone to make tea, and closed the door casually."
Xiao Dong, are you looking for me?"
After Shang Liancheng came in, he sat directly on the chair opposite the desk."
Mr.
Shang, you take a look at this first."
Xiao Bai nodded, and then handed the compilation of business information to the other party."
So Dongfang Technology and PADA Electronics Group plan to continue to cultivate LCD panels?
They are going to take it all in the LCD field, and they can't take it lightly. ”After Shang Liancheng read it, he couldn't help but be a little surprised.Dongfang Technology and PADA Electronics Group have just breathed a sigh of relief and are about to make such a large investment?"
Mr.
Shang, Wang Dong of Oriental Technology, has a very strong financing ability.The previous price war plunged Dongfang Technology into an existential crisis, and major banks stopped lending to each other when they saw that the situation was not right.But now that the crisis is over, there is room for his strengths to play again. ”Xiao Bai still hasn't said a word, Dongfang Technology is backed by state-owned assets, and in some aspects it has natural advantages.For example, if the price war is fought to the end like this time, if it is not for the emergency stop of the regulatory department, the best outcome of Dongfang Technology is to give up part of the initiative, so as to exchange for the support of Times Optoelectronics."
Xiao Dong, I think we should take active action and never let Oriental Technology impact our large-size and super-large LCD products.I have an immature idea that if we can keep up, then we should expand our advantage in the LCD field. ”Shang Liancheng hesitated for a moment, but still said his opinion.This industry is a winner-takes-all industry, and its so-called step by step, Times Optoelectronics must not throw away the advantages that it has accumulated so hard.To put it bluntly, it is necessary to set a ceiling for latecomers in the LCD field, which greatly increases the difficulty of their technology upgrades.The 8.5th generation production line is the ceiling that Shang Liancheng considers."
Oh?
Mr.
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Shang, do you mean to continue to invest in new lines?
Let's talk about it specifically. ”Shang Liancheng's thoughts coincided with Xiao Bai, and Xiao Bai asked with interest."
What I mean by this is to invest in a 10.5 generation TFT-LCD production line to release our production capacity as soon as possible.In this way, even if the other party starts the same production line head-on, there is no comparison in terms of cost. ”Shang Liancheng then explained that if the overall scale goes up, the production cost will naturally come down.When Times Optoelectronics has two 10.5 generation TFT-LCD production lines, latecomers invest in building factories, and there is basically not much room for profit.This is only the advantage of production capacity, in terms of technology, Dongfang Technology is also a big difference, and the yield rate is a big problem.Therefore, as long as Times Optoelectronics has sufficient production capacity, it will definitely discourage latecomers."
Mr.
Shang, your suggestion is very good, let me think about it."
Xiao Bai didn't make a statement on the spot, he still needs to weigh the pros and cons repeatedly, and he should have a decision soon.The current situation is that Times Optoelectronics Co., Ltd. and Times Optoelectronics (Holdings) Co., Ltd. are not well funded.If such a project is reinvested, the problem of funds can only be solved by Xiao Bai.After Shang Liancheng left, Xiao Bai asked Tong Wanqing to find out the financial statements of Yingsheng Investment and read them carefully."
This time, I'm afraid I'll have to use the funds of Yingsheng Investment."
Xiao Bai read the report and said to himself.At present, Yingsheng Investment has about US$15 billion in cash in US dollar accounts and about HK$30 billion in Hong Kong dollar accounts.There is also a reserve of more than HK$2 billion in the daily payment account, which is not taken into account.With the funds secured, Xiao Bai immediately convened a meeting of the decision-making committee.There are two topics on the agenda of the meeting, one of which is to invest in the construction of a 10.5 generation TFT-LCD production line project."
Dong Xiao, I am very supportive of the project itself.But now there is a question, in what name is project financing?
Is it the holding company's capital increase and share expansion?
Or in the form of corporate bonds?
”Xu Changqing's words actually represent the doubts of most committee members.Although Xiao Bai is the head of the Times Department, the Times Department does not belong to Xiao Bai alone.Some things have to be clearly distinguished, otherwise it will be very troublesome later."
This time, let's use the project shares as financing, and the $5 billion project investment will be completed by Heung Kong Yingsheng Investment.Times Optoelectronics (Holdings) Co., Ltd. contributes personnel and technology, accounting for 15% of the shares, and the remaining 85% of the shares belong to Yingsheng Investment.In the future, Times Optoelectronics can repurchase shares. ”To put it bluntly, the project investment this time is all invested by Yingsheng Investment.In the future, under the premise of making a profit, Yingsheng Investment can sell its shares, which is a new form of financing for the current times."
I think that in the future, if Yingsheng Investment wants to sell its shares, it is better to let listed companies acquire it!
Of course, that's all for later, and we'll talk about that later. ”Xu Changqing smiled knowingly, this financing method is also a win-win way for several parties.He knows in his heart, don't look at Yingsheng Investment, this time it is fully contribution.However, the future equity transfer price will never suffer."
Dong Xiao, don't you need funding from the local government this time?
Don't know where you're going to choose the project location?
I have a suggestion, you can consider Jiang Han. ”Wang Chuanfu has recently had a hot fight with the local people in Jianghan, and the automobile production base he invested in and built in Jianghan has received strong support from the local people.Therefore, he subconsciously helped Jiang Han to fight for it."
Let's talk about this later, Mr.
Shang, you first come up with a specific plan."
Due to the tight time, Shang Liancheng has not yet made a detailed project plan.However, there was a ready-made experience in the construction of the 10.5 line in H Fei City, so it was discussed at the meeting in advance.Xiao Bai handed over the matter of the plan to Shang Liancheng and asked the other party to consider the matter of the construction site.