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Chapter 788 Privatization and delisting


"Dong Xiao, let's go to lunch first, and then let's go to Wanwei Technology in the afternoon?"

An Ran looked at his watch, it was almost noon, so he took Xiao Bai to the staff restaurant for lunch.After eating, Xiao Bai rested in the company's reception room for a while, and then went to Wanwei Technology with Enron.Speaking of which, Wanwei Technology has a much better life than Sihai Electronics.The company has made great strides in the restructuring of the supply chain, and the parts and components of its high-end products are basically imported, especially GT has the highest share.As a result, the number of parts purchased from Times Telecom and Ruiyi Semiconductor's subsidiaries has dropped sharply."

Mr.

Wang, the company's performance in the European market is not bad, you continue to work hard, I have nothing to say in terms of operation."

The development route of Wanwei Technology is fine, but gradually outside the industrial chain of the rest of the times, it will definitely make the enterprise marginalized in the times.There was no solution to this problem for the time being, so Xiao Bai didn't say much, and left Wanwei Technology after a circle with An Ran."

Ah Ran, Mr.

Wang, you just need to grasp the general direction, don't interfere with the specific business strategy, let the family play freely."

Enron was theoretically responsible for the strategic decision-making of Wanwei Technology, but in fact, he managed very little, giving Wang Jiming full management rights.Xiao Bai reminded again, in fact, he decided to release Wanwei Technology.When necessary, he will even erase the imprint of the times on Wanwei Technology, just to let the development of the enterprise be undisturbed."

Well, don't worry, I know it."

Enron's idea coincides with Xiao Bai, and in terms of strategic value, the value of Wanwei Technology to the Times Department has weakened a lot.His mind is almost all focused on Sihai Electronics, although Sihai Electronics' products are concentrated in the middle and low end, but there are also some high-end products.The key is that Sihai Electronics is a big customer of enterprises such as Times Communications and Ruiyi Semiconductor, and this piece must be protected.Although the industrial closed loop proposed by Xiao Bai back then has encountered great difficulties at this stage, the industrial chain is basically complete.As long as you don't give up your martial arts, there will always be a day when you can play a role."

Ah Ran, I'm afraid Sihai Electronics will have a hard time for a few years.The loss of a considerable part of the foreign market is very serious damage to the company, and there is no way to do it. ”In the car, Xiao Bai comforted An Ran a few words.This is the case now, no matter how difficult Sihai Electronics is, it must maintain its share of the domestic market.With this part of the share, Times Communications and Ruiyi Semiconductor also have a fixed revenue, which is very important for the grand strategy of the entire Times Department."

I understand!

The company has made a lot of money over the years, and it doesn't matter if it makes less now.In short, although the life of Sihai Electronics is sad, it is not to lose money, and it is impossible to continue to operate. ”An Ran laughed, he was not discouraged.A company is the same as a person, there are peaks and troughs.Now Sihai Electronics has entered a low period, and it will be good to stay up for a few years.When the domestic advanced process IC breaks through the bottleneck, Sihai Electronics will naturally go back to glory.Enron is convinced of this.Therefore, he now tries to control the GT's parts procurement share at 3 percent or even less than 2 percent.The mainstream still firmly occupies the low-end market, taking into account the high-end market.Xiao Bai nodded after listening, An Ran didn't need him to worry more about it."

It's not early, let's go to dinner together?"

Enron then changed the subject."

I made an appointment with Dong Li and Mr.

Cheng in the evening, so you can go together."

Xiao Bai received a call from Li Longbin in the afternoon, the other party wanted to get together with him, and Cheng Liyong would also participate.At that time, Xiao Bai was busy, and casually agreed, and then everyone arranged everything.Anyway, Enron is not an outsider, so let's go together."

Haha, then I'll follow you to eat."

An Ran has a good relationship with Li Longbin, and the relationship with Cheng Liyong is average, mainly because he doesn't deal with each other many times.But it's okay to have a meal together.So Enron happily agreed.Xiao Bai and An Ran drove straight to the agreed place, and when they walked into the private room, Li Longbin and Cheng Liyong were already sitting inside."

Xiao Dong, An Dong, please take a seat."

Li Longbin and Cheng Liyong both stood up, and several people greeted each other and sat down.It didn't take much effort, but a table full of sumptuous wine and food was put on the table.A few people ate something first, and then began to push the cups and change the lamps."

An Dong, don't be worried, I'll have a drink with you."

Li Longbin saw that An Ran's mood didn't seem to be high, so he took the initiative to touch a glass with the other party."

I'm sorry, I was distracted.To be honest, I really don't have any worries, how can it be smooth sailing in business?

It's okay, let's keep talking. ”An Ran suddenly thought about a question just now, will Xiao Bai find an opportunity to sell Wanwei Technology?

Sihai Electronics must stick to it, but Wanwei Technology does not.To be honest, Enron was really a little reluctant."

It's okay!

It's rare for everyone to get together and put aside the unhappy things first.Liyong, you accompany Xiao Bai to drink two cups, and I will ask him for a drink later. ”Li Longbin shouted fiercely, but in fact, everyone didn't drink much.He mainly wanted to adjust the atmosphere, and he called Xiao Bai out today to let him relax.By the end, the four of them had only drunk a bottle of wine in total."

Xiao Dong, I heard that Julong Mall is a little troublesome in the North American stock market?

Now the other party's stock price has fallen too much, and I still have to take some measures. ”A few people chatted and chatted, and they talked about the matter of Julong Mall.Li Longbin means, it's really not okay, everyone can get together some funds to support the market, and you can't watch the stock price keep falling, right?"

Well, there will be some measures.However, instead of a share buyback or something, I want to go private and delist. ”The privatization plan of Julong Mall has not yet been implemented, and there are very few people who know about the situation even within the Times Department.Xiao Bai immediately explained to Li Longbin."

Privatization delisting?

It's also a way.However, in order to implement it smoothly, I am afraid that the amount of money will be consumed. ”Li Longbin didn't expect Xiao Bai to be so decisive, the current era has encountered a lot of troubles, and it is when money is needed everywhere.Privatization at this juncture is stressful.However, Li Longbin didn't want to express too many opinions on this matter, he originally asked casually, so he didn't continue to delve into this topic.After eating, everyone dispersed.A few days later, Juwenson and Jiang Xiaozhou came up with a privatization plan for Julong Mall, and the action was quite fast."

If you don't hurry up, the current stock price of Julong Mall has fallen to $6.5 per share, and if it continues like this, it will have to be forced to delist."

When Juwenson and Xiao Bai talked about this, they shook their heads vigorously and sighed.Now there is a lot of negative news about Julong Mall, although there is no stone hammer, but it has a great impact on the mentality of investors.After discussion, the board members of Juwensen, Jiang Xiaozhou and Julong Mall felt that the privatization should be done sooner rather than later, and that if the stock price fell too hard, it would definitely affect the company's image and credibility.Wait for the stock price to fall to the bottom before implementing privatization and delisting?

That, of course, is unrealistic.Let's not talk about anything else, let's just say that once it is found that it is illegal to manipulate the stock price, the consequences will be unbearable.Besides, no one is a fool, and if Julong Mall wants to carry out privatization and delisting smoothly, a relatively fair price is a must.Otherwise, ordinary shareholders would not agree."

Mr.

You, Xiaozhou, there is nothing wrong with your plan.I agree to carry out the privatization according to this plan, and you should let the board of directors go through the process and then make it public. ”Xiao Bai carefully read the plan brought by the two, and felt that there was no problem and could be followed.He immediately signed the proposal on the proposal, and as the controlling shareholder (actual controller) who initiated the privatization, the privatization motion was the first step.Next, this plan has to be resolved by the board of directors of Julong Mall, convene an extraordinary general meeting of shareholders, and then apply for suspension and make an announcement to the outside world.The next step is to make an offer to ordinary shareholders to acquire all the outstanding shares at the published price.If the common shareholders do not agree with the tender offer price, they can also apply for an appraisal, and the whole privatization process will take about six months to one year.Juvinson and Jiang Xiaozhou immediately left Xiao Bai's office, and their follow-up work was still very cumbersome, especially Jiang Xiaozhou still needed to go to North America, and he had to communicate with the local authorities to ensure the smooth implementation of the whole plan.As for the problem of funds, as the controlling shareholder (actual controller), Julong Electric's performance over the years has been very good, and the cash in his hand is enough to cope.Three days later.Julong Mall released its first announcement.The announcement said: the company received the privatization proposal from the controlling shareholder (actual controller) Julong Electric, and the board of directors has discussed the matter, and the proposal was passed by the company's board of directors.The company will hold an extraordinary general meeting of shareholders in half a month, and the information will be announced in a timely manner."

Xiao Dong, after the announcement of Julong Mall, the stock price rebounded briefly.However, the rebound was weak and soon returned to the downward channel. ”During this time, Juvinson was also cooperating with Julong Mall in the preparation for privatization.This afternoon, he came to Xiao Bai, finished talking about business, and by the way, he talked about the stock price performance of Julong Mall, which was very disappointing."

Obviously, someone is taking the opportunity of the rebound to clear their positions, and after this group of investors who resolutely leave the market are gone, the stock price of Julong Mall should almost stabilize."

Xiao Bai saw it thoroughly, and this time the stock price of Julong Mall plummeted because of the major institutions in North America competing to sell.Maybe they see the crisis.On the side of the Times Department, including Chenfeng Capital, foundations and some individual holdings, they were lucky to have realized their holdings at a high level a few years ago."

After the shareholders' meeting, we will report the detailed privatization plan to the regulators in North America.Yesterday, I also talked to Mr.

Jiang on the phone, and we discussed that the share repurchase price should be set at about $7, otherwise it will be difficult to pass the review. ”In North America, there are strict requirements for privatization and delisting, and although the procedure is not very complicated, in order to protect the interests of small and medium-sized investors, the regulatory authorities will intervene in the company's proposed repurchase price.Juvinson and Jiang Xiaozhou calculated and set the price at around $7."

Things are more difficult in North America, my opinion, you should go to a professional appraisal agency to evaluate the stock price.In this way, although it will cost a lot of money, it will be done once and for all.Once there are individual investors who object, we also have something to say. ”If the buyback price is set too low, even if the regulator agrees, the investor will have to evaluate if he does not agree.Xiao Bai felt that it was best not to omit this link, some money could be saved, and some money could not be saved."

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Okay, I'll find time to communicate with Mr.

Jiang again."

The cost of conducting an assessment is not low, and even Juvinson is a little distressed.But he knew that Xiao Bai's suggestion was right, and his so-called speed would not be enough, so it was better to do the basic work more solidly, so as not to repeat it when he got it.It didn't take long.Julong Mall has released a second announcement.The company convened an extraordinary general meeting of shareholders as planned, and the proposal for privatization of the company was reviewed and approved by the company's controlling shareholder (actual controller).In the next step, the company will submit a privatization plan to the regulatory authorities, and the results will be announced to the public in a timely manner.After this announcement, the stock price of Julong Mall stopped falling above $5 and stabilized, and rebounded slightly.In this process, TD's 28n production line project was finally completed in Jinling and will soon enter the trial production stage.Xiao Bai was not idle, he recently went to Modu, Beijing, Jianghan, Rongcheng, Shancheng and other places, and was very pleased to see that the 28n process production capacity of Times IC manufacturing has reached an ideal state.This is not only due to the progress of IC manufacturing in the manufacturing process of the times, but also the technological progress of domestic semiconductor materials and equipment.At present, the IC manufacturing industry is waiting for the impact of TD.Rongcheng.Xiao Bai stayed at Huanhuaxi Villa for the past two days, it happened to be the weekend, Liu Xiaoling and Tian Chunxiu also came over for vacation, and he rarely had a short vacation.Sunday night.Xiao Bai and Tian Chunxiu finished swimming together, took a shower and changed their clothes, and suddenly received a call from Li Kai."

Xiao Dong, are you going to float outside all the time?

I have a big plan in hand, and I have repeatedly discussed it with Mr.

Wang and others a few days ago, and now I need your strong support!

”Li Kai is responsible for the operation of BOD Semiconductor, the company's presence in the Times Department is relatively weak, and he rarely talks to Xiao Bai about work.Occasionally, when they are free, Li Kai and Xiao Bai will also get together, but basically they are small talk, and rarely talk about the company's development plan.However, with the rapid development of the new energy industry, various industries, including new energy vehicles, have ushered in a once-in-a-lifetime opportunity.Li Kai leads BOD Semiconductor, which is also seeking innovation and change, and strives to catch up with the world's new technology trends.