Chapter 880 Big Step Development

  In early March, the first phase of the integration work of Fuxing Industrial Group officially came to an end. The equity structure of dozens of subsidiaries was basically clear, and financial information such as assets and valuation of each subsidiary was counted and counted.

  After the integration, the Fuxing Industrial Group is no longer wholly-owned by Xia Jingxing, but has two additional minority shareholders, the Chen Hong and Huang Hongsheng families.

When   Fuxing Mobile was founded, it claimed to inject 500 million US dollars, of which Chen Hong invested 10 million US dollars, accounting for 2% of the shares.

  And Envision Capital indeed invested 490 million US dollars, but it was “borrowed” by Xia Jingxing several times. For example, 1 billion yuan was injected into the Mango seed fund managed by Zhao Jun, and an additional 100 million US dollars were injected into Android...

Although Fuxing's mobile phone account has ample cash, these behaviors did not cause any impact on the normal operation of the company, but after all, it still harmed Chen Hong's interests. However, this smart big brother has never said a word, even half of it. No complaint was ever made.

  For the reason and reason, Xia Jingxing should have said to Chen Hong when the Fuxing Industry Group concentrated the equity of its subsidiaries in the parent company of "Fuxing Industry Holdings".

   Therefore, after consulting Chen Hong’s opinion, Xia Jingxing turned Hanergy’s 2% stake in Fuxing Mobile into a 0.94% stake in Fuxing Industrial Group.

  The overall valuation of the Fuxing Industry Group is calculated at US$2.12 billion.

  Among them, ATL and CATL and other energy sectors have a total valuation of US$200 million. ATL has increased a lot from the purchase price of US$110 million in the previous year. However, CATL has not been established shortly and cannot be valued at all.

  The home appliance sector is valued at US$648 million in total.

  Renaissance Industry Group holds 60% of Supor's shares, with a market value of 2.65 billion yuan;

   holds 26.43% shares of Kelon Electric and Rongsheng Refrigerator, with a market value of 880 million yuan;

   Holds 24.01% of the shares in Little Swan, with a market value of 650 million;

  Holds 39.7% of Skyworth, with a market value of 750 million;

   holds 100% of the shares of Xiaoxiong Electric, with a valuation of 10 million US dollars.

  Include DJI with a valuation of 100 million yuan, Sunco with a valuation of 2 billion, and a revival phone with a valuation of US$1 billion...

  Zero total total, all businesses add up, the total valuation is just over 2 billion US dollars.

  This statistical result surprised Xia Jingxing and felt normal.

  Accident is known as the six major business groups to be the world's top hard technology giant's rejuvenation industry. At this point of valuation, even the fraction of overseas giants in the industry can't keep up.

  I think it’s normal, because companies like Renaissance Mobile, DJI, and CATL have not yet grown up, and businesses such as semiconductors and the Internet of Things are still on paper.

  However, these are not major problems. When a large amount of funds are drawn back from overseas and invested in construction, the stalls are all rolled out, and the valuation is doubled or tens of times, it is only a matter of time.

  In addition to Chen Hong, the Huang Hongsheng family also acquired 2.85% of the shares of Fuxing Industrial Group.

  This is because when acquiring Skyworth, Huang Hongsheng chose a half-cash, half-equity transaction plan. This TV tycoon who is still squatting in the office is very optimistic about the future development of Xia Jingxing and Fuxing Industry, and he must take a ride.

  Xia Jingxing also welcomes this.

  Because in the future, Renaissance Industry will inevitably make a large-scale capital injection. If Huang Hongsheng does not participate in the investment together, the shares of these two or three points may be diluted to decimal points, irrespective of the overall situation.

  Even if the dilution will be tragic, as long as Huang Hongsheng can afford and hold it, the return on this equity investment will be considerable in the future.

  It is not that Xia Jingxing wants to drive away minority shareholders through malicious capital injection, but that Renaissance Industry wants to engage in hard-core technology, and it will inevitably have to spend a lot of money. A semiconductor alone does not know how much capital it will swallow.

  In addition to these assets, Fuxing Mobile also has a supporting mobile phone industry M&A fund, but it is only a partnership. The ownership is in the hands of Envision Capital, and it is not included in Fuxing Industry’s assets.

  After the integration work is over, this fund, which has invested more than half of its funds, has not changed much, and it will continue to invest in the mobile phone industry chain.

  Because no matter from the perspective of valuation or business prospects, mobile phones will be one of the core businesses of Fuxing Industry.

  In the office of Zhongguancun Science and Technology Park, Fuxing Industrial Group held its first shareholder meeting. Chen Hong and Huang Hongsheng’s wife Lin Weiping were elected as directors of the group.

Lin Weiping, like Du Juan, is known as the woman behind the "Rich Barons". After their husbands went to jail, both of them saved the family business they had accumulated after working hard for half a lifetime. They had both basic abilities and skills. .

  After the election of the board of directors, Xia Jingxing, who was successfully elected chairman, raised his chin to Zhu Zhaojiang, who got up and talked about today's first topic.

"Mr. Xia, directors and shareholders, after several rounds of contact and negotiation with the Beijing Olympic Organizing Committee, the two parties have reached a basic intention that Fuxing Mobile will become a global partner of the Beijing 2008 Olympic Games with a sponsorship fee of 80 million US dollars, that is, the outside world. Commonly known as the top sponsor.

  There are twelve companies that rank alongside us as top sponsors, such as Conscience Computer, Coca-Cola, General Motors, McDonald’s, Panasonic, Johnson & Johnson, and VISA. "

  Xia Jingxing raised her eyebrows suddenly, "Conscience Computer has also become a top sponsor?"

Hearing this, Zhu Zhaojiang’s expression was sluggish. He knew how much Xia always hated this company, so he had to say with regret: "There is no way, one thing, they are willing to spend money, second thing, they After all, it is regarded as a Chinese-funded enterprise and a banner in China's science and technology field."

  "They are not qualified to be the banner of China's science and technology field, and Fuxing Industry is pretty much the same." Li Guangnan, who was elected as a consultant and independent director of Fuxing Industry Group, reacted fiercely and looked uneasy.

   Seeing that the academician Tangtang was so angry, everyone at the scene was a little embarrassed, and for a while, they didn’t know whether they should agree with him or not.

  In the end, Xia Jingxing's words broke this awkward atmosphere.

  "Academician Li said very well. Without core technology in his hands, he can be regarded as a banner in the field of science and technology.

  From the moment the Renaissance Industry was born, countless colleagues and I have determined to break the international technology blockade and allow China's hard technology industry to take off. "

  Xia Jingxing's eyes swept over the people attending the meeting, and his expression solemnly said: "Our first step to take off starts with the Olympics!

  Fuxing mobile phone is now a sharp knife of the group, and it is also the most promising technology product to gain a foothold in the international market and achieve a leading position.

Our next plan is to fully carry out brand marketing and publicity around the Olympics, maintain this upward momentum, and then use the money earned from overseas to feed back the research and development of other businesses, and finally achieve the common development goal of "rich first drives wealth later" . "

Hearing that, in addition to Chen Hong, Lin Weiping, Li Guangnan and other directors who agreed, the other business group presidents who were appointed as directors, including Li Ying, Zeng Fangqun, Li Zexiang, Lin Bing, etc., also nodded their support.

Anyone with a discerning eye can see that the Fuxing Industry is currently poor and wanting to make a lot of money, even going international to break the wrist with the technology giants, can only count on the mobile phone business, household appliances, battery energy, drones and other businesses are temporarily unable to count on it.

  There is no other reason, it is too weak, and the domestic market is still unbalanced, so how can we talk about showing its edge in the international market.

   "Mr. Xia, I have a question."

  Xia Jingxing looked at Lin Weiping who was speaking out, and smiled: "Please speak!"

   "Our Fuxing Industry Group has just been established, and companies such as DJI and Xiaoxiong have only been established for a year or two. They are slightly larger, and Sunco and several home appliance companies have a stable business.

  Except for Supor and Skyworth, other companies have more or less various financial problems. "

  Xia Jingxing nodded. If there were no financial problems, he would not be able to buy these companies like a shattered one.

  "After Mr. Xia, you become the owner of these companies, I believe that you will be able to integrate resources, restore the order of production and operation, and bring them back to the peak of their original business, or even further.

  But it takes time, and what we lack most now is time. "

  Lin Weiping glanced across the crowd and said with a serious face: "I have read the financial statements of the various business segments of the group. In a short period of time, most companies have difficulty making blood.

  Fuxing mobile phone is still a few months away from the sale, and suddenly it has to spend 80 million US dollars to sponsor the Olympics. Will this cause financial pressure on the group? "

Chen Hongxun glanced at Lin Weiping and saw the other's careful thoughts. He smiled and said, "Mr. Lin, this is actually a small problem. The funds on the Fuxing mobile phone account are enough to cover the sponsorship fee. If it doesn't work, we will then jointly inject funds. One round."

Lin Weiping smiled at Chen Hong, and then nodded: "I know enough to pay the sponsorship fee, but the sponsorship is just the beginning. To maximize the advertising effect brought by Olympic sponsorship, follow-up marketing and supporting brand marketing activities still need three , Four times the financial support of the sponsorship fee, or even more.

  I have read related reports. Samsung sponsored the last Olympic Games for 60 million U.S. dollars, but the brand marketing expenses for a year exceeded 200 million U.S. dollars.

  Are we too anxious? I think it's better to go slowly. "

The executives and directors present were meditative. To be honest, Lin Weiping’s words made sense. Although Fuxing Industrial Group is not small, it is actually a start-up group. difference.

  Of course, these gaps are not impossible to fill. It depends entirely on Xia Jingxing’s intentions.

  Xia Jingxing chuckles, Lin Weiping's words are very subtle, but she can still feel that there are two meanings, which seems to remind him.

"Last year, Fuxing Mobile loaned about 1.8 billion yuan to other companies that I invested in. This money will be repaid this year, even with interest, and will definitely not cause any trouble to Fuxing Mobile's operation and slow down the pace of development. ."

  Lin Weiping didn't expect Xia Jingxing to be so blunt, and she felt a little nervous for a while, don't let the major shareholder Xia Jingxing completely hate it because of this.

  From her point of view, she felt that her reminder was necessary and correct. The revival of mobile phones is so big that it spends money like water, but it still lends money to outside companies, which makes no sense.

  In fact, Lin Weiping was simply overly concerned. Xia Jingxing was still very open-minded, and would not hate minority shareholders because of this trivial matter. Repaying debts is justified, not to mention that Fuxing mobile phone will also be short of money in the future.

  "In addition to repaying the loan on time, when necessary, I will inject at least US$1 billion into Fuxing Industry. This is my commitment.

  Although the steps are a bit big, you don’t have to worry or feel panic. Renaissance Industry has also gathered my sweat and hope. I will definitely do my best to support its development. "

  Xia Jingxing didn't say much, but he was concise and concise. With his current status in the business world, making such a promise while still in front of so many people is undoubtedly very calming.

  No one feels the big steps are taken anymore. What if the Olympic sponsorship and supporting marketing and promotion spend hundreds of millions of dollars? What if the revival mobile phone and even the entire revival industry are not profitable? The major shareholders have strong capital and can afford it!

  Lin Weiping is an exquisite person. Hearing Xia Jingxing's words, after taking a reassurance, she began to make remedies.

   "It turns out that President Xia had planned all this in his mind a long time ago. It seems that I was worrying too much and made you laugh at President Xia."

  Xia Jingxing waved his hand, “Well, the board of directors, it’s not someone who speaks, everyone speaks freely.”

  Next, Li Ying raised the issue for the second time.

"It will be Labor Day soon. Gome and Suning are going to engage in holiday promotions, offering 30% and 20% discounts. Regarding this part of the discount, the two companies have a very strong attitude and are not willing to bear a penny. Supplier out.

  In addition, the two companies are now embarking on big mergers and acquisitions and crazy shop openings. Where does the money come from? The billing period of our suppliers is pressured, and the pressure is getting worse. The employees below urged a few more words, and were ridiculed by their people: If you don't cooperate, you will get out. "

Xia Jingxing nodded slightly. The two major electrical appliance chain stores are no longer domineering, and they are a little more polite to their big suppliers. Small suppliers must pay the entrance fee before entering the store, and send employees to bring their own dry food to the store for sales promotion. .

"I see, speed up the construction of "Fuxing Home" offline stores and "Fuxing Mall". In addition, the group has also invested in an e-commerce website called "Jingxi Mall" to strengthen cooperation with Jingxi. Gradually reduce the dependence on store channels."

  Li Ying frowned slightly, “But these layouts will take time. E-commerce platforms need traffic and users. Offline stores need to be rolled out across the country. It is estimated that there will be no two or three years, and there will be no power at all.”

  Xia Jingxing sighed, “Try your best. The two major stores have developed for more than ten years before they have the same scenery as they are today. They are not allowed to increase the “rent”? Let them go, it won’t be long.”

  Li Ying naturally knows Xia Jingxing’s plan, but she believes that these deployments will not threaten the two major stores in a short period of time. The distribution, installation, and acquisition of major electronics are a big trouble.

  She sighed slightly in her heart, but she could only continue to be pinched.

  Zeng Fengqun proposed the third issue.

  "There is bad news. After knowing that ATL joined the Fuxing Industrial Group, Wisdom Fruit removed us from the list of battery suppliers for mobile phones, computers and other products, and instead cooperated with LG Chem.

  There are also conscientious computers and mobile phones, and they have stopped cooperating with ATL. "

  Zeng Yanqun’s expression is serious. Unfortunately, all his previous predictions have become reality.

  Once you choose a team, you will no longer be an independent supplier, but a very conspicuous camp label, which brings a lot of difficulties to their business development.

  However, this part of the market share that has been lost has been supplemented by a large part of the order for Fuxing mobile phones. If the sales of Fuxing mobile phones are fully opened, it may be able to help ATL to take it to the next level.

  Now the relationship between their ATL and the group can be regarded as both prosperous and prosperous.

  Xia Jingxing didn't react much to the bad news narrated by Zeng Yanqun, his face was calm, and he only said lightly, "I got it."

Seeing that Xia Jingxing was so calm, Zeng Qianqun also knew that he was a little bit hypocritical. When the group was established, it had made a plan, and even the countermeasures had been formulated before. Soldiers came to block, and the water came to cover. It was really not worth the fuss.

   "President Xia, I have heard some news that the "New Energy Vehicle Production Access Management Rules" may be released." Zeng Qianqun was eager to try, and he was very excited.

  "You are well-informed, I heard it too!"

  Xia Jingxing smiled, “However, don’t get too excited. From issuing policies, to pilot projects, to promotion, no two or three years can’t be done.

  CATL During this period of time, don’t go to hot spots, take your time to do research and development. When the industry officially begins to explode, it’s a good time for you to show your skills. "

   "I know I know." Zeng Qianqun smiled and nodded hurriedly.

   Li Zexiang reported in the fourth meeting: "General Manager Xia, we have already been to Rongcheng in DJI, met with the leaders of Rongcheng Aviation Vocational College, and held a few days of seminars to initially set things down.

  DJI sponsored RMB 10 million to co-organize three majors and three classes with Chengdu Aviation Institute, which are first linked to other departments.

  If the cooperation results are satisfactory, DJI will increase its sponsorship in the future, and Chengdu Aviation Institute also indicated that it can establish a special department. "

  Xia Jingxing nodded slightly, his father had notified him of this two days ago.

  Across the phone, he could feel the joy of his father's heart.

  In fact, he can understand his father quite well. He has no hope of career in middle age, but the second spring of his education career is ushered in, and his work passion is ignited at once.

  He thinks this is good too. After all, my dad is only in his forties and he is retired or living at home.

  Now I find a job for his dad, teach and educate people, promote the progress of vocational education, and at the same time make dad feel that he is helping his son.

  In addition, his father also explained to him that it is impossible to open a UAV department as soon as he comes up. The school cannot take risks before seeing obvious results.

  He has no opinion on this. DJI is still very weak, and its products have not been successfully developed yet, and it is not appropriate to take too many steps.

   "Okay, let's just do it. Both DJI and the school need to grow and gradually increase cooperation."

  Li Zexiang nodded and stopped talking.

Just as Xia Jingxing was about to announce the adjournment of the meeting, Deng Yuanjun interjected: "Liang Mengsong, I have convinced him that he is willing to join the Fuxing Industry Group.

  But the thorny issue of the non-compete agreement requires our help.

   And he did not come to the mainland alone, but led a group of people, a team to join our company, TSMC will certainly not give up. "

  Xia Jingxing nodded lightly, "I know, you can inquire about it, and we will pay all of it for the liquidated damages."

   "This is a lot of money, and it cannot absolutely cure all hidden dangers." Although Deng Yuanyun felt the boss's determination, he still subconsciously reminded him.

  Xia Jingxing knows what the so-called hidden dangers are. “Unnecessary” such as patent infringement and theft of trade secrets are all possible.

  Because of Liang Mengsong, TSMC and Samsung fought a lawsuit for several years, and in the end TSMC won.

  If SMIC was smashed by TSMC’s legal department, the company’s legal department would be considered a winning general.

  Of course, after Liang Mengsong joined Samsung, he led Samsung’s team to counterattack TSMC, causing a lot of losses to the latter to make TSMC hate it so much and must kill the chickens and monkeys.

  Renaissance Semiconductor will certainly not be so destructive for a while, but it still cannot underestimate TSMC’s determination to deal with "traitors".

  For example, SMIC has shown a certain threat, which may shake TSMC’s market share in the mainland, but the actual process technology is still far behind, but TSMC did not hesitate to wield a patent butcher knife.

  Xia Jingxing thought carefully in her heart, and can’t hope that TSMC’s soft-heartedness, because it is meaningless, but also find a more secure way to develop a wave of wretchedness first.

  (End of this chapter)