"Apple and Yike, two interesting companies."
"From music players to smartphones, from subverting the music industry to revolutionizing the mobile phone industry."
"The two companies are similar, but also very different."
"Yike's Mars and Apple's iPhone have many parts from the same supplier. If the information is correct, the patent authorizations they obtained when entering the mobile phone industry are basically from Sony Ericsson mobile phones, and the former is through Sony, and the latter is through Sony Ericsson.
The first is through Ericsson, which makes it even more dramatic."
"I don't know if Sony Ericsson Mobile has anticipated one thing. Its two shareholders respectively chose to 'help' the two companies that jointly created a strong challenge to the existing situation of the global mobile phone industry."
"Now, Yike and Apple are about to reach a patent cross-licensing cooperation, intending to stir up a bigger storm in the mobile phone industry."
"Apple's new generation of iPhone is about to be released. It chose to follow up in time after witnessing the more radical design of Yike Mars winning greater popularity in the market. Relying on iOS's smoother system experience and complementary app store functions, this year's
Performance is expected to improve further.”
"I witnessed Fang Zhuo and Steve Jobs communicating like close friends..."
Liang Mu, who had been the driver for two days, stared at his notebook at night and suddenly hesitated. Is the description of "close friend" inappropriate? Although the communication between the two was much more peaceful than expected, it was not that good.
kind of degree.
Otherwise, appreciate each other?
It doesn't seem to have that smell.
On the contrary, even if they temporarily stopped making peace this time, Liang Mu still felt that there was a slight repulsion between the two. After all, the companies they represented were still essentially competitors.
He thought for a while, but still couldn't find the best description, so he began to think about what Mr. Fang said.
Washing dishes?
What level of reshuffle is coming?
Is it the impact of 3G smartphones on the mobile phone industry or the chain reaction caused by the US financial market?
Liang Mu originally wanted to say goodbye to Mr. Fang this time and write a book and publish his observations on Yi Ke and the richest man in the mainland. However, with the changes in the mobile phone industry and the turmoil in the financial market, this seems to be a period worthy of observation.
.
He thought hard for a while and then wrote down a word from Mr. Fang's mouth in his notebook.
Minsky moment.
…
1.2 Hong Kong dollars.
February 22, the latest price of SMIC Hong Kong stocks.
As Taiwanese journalists won the lawsuit in the Washington District Court, SMIC's stock price fluctuated and fell again.
In fact, if the market had not been closed for two days, the stock price might have fallen below the 1 Hong Kong dollar level.
For a while, people were panicked, and there were rumors that SMIC would face more serious consequences in the future.
Under such circumstances, SMIC, on the one hand, accelerated negotiations with Datang Telecom, and on the other hand, it also tried its best to appease the emotions of different internal shareholders. However, there were great differences both externally and internally.
On February 23, SMIC held a board of directors and partial shareholders meeting in Shanghai to discuss the private placement again.
Zhang Rujing is from the United States, and this meeting was chaired by Chairman Wang Yangyuan.
Since the first entanglement with Taiwanese reporters, Zhang Rujing has handed over the position of chairman to Wang Yangyuan, an academician who is also a founder of SMIC. Today, the person who assists him or mediates is Jiang Shangzhou, an independent non-executive director.
SMIC's equity has been very dispersed since its establishment, and it is destined to receive different demands from different shareholders when it comes to dealing with major issues.
Especially this time, Datang Telecom wanted to obtain the additional shares issued by SMIC at a low price, which caused widespread backlash from shareholders.
However, on this day's meeting, Jiang Shangzhou finally brought out the hidden ice core news to warm up the atmosphere. He aimed to use good news to brighten the atmosphere among the bad news and let everyone see that China is working hard to solve the problem from many aspects.
core.
At ten o'clock in the morning, four directors and three shareholder representatives were already in SMIC's conference room.
The people from Datang Telecom haven't arrived yet, nor has Dr. Jiang. The rumored Bing Xin Fang Zhuo has also not shown up.
However, Chairman Wang Yangyuan arrived first.
Academician Wang is 73 years old this year. In the past, he was not responsible for the overall planning of the company. It was more symbolic and no one wanted to trouble him. However, this time it was about the real value of the company. After a simple greeting, some people became impatient.
Ask proactively and proactively.
"Academician Wang, this matter in Datang cannot be done forcefully. SMIC has worked for more than seven years, but the more we work, the more we go back. How can there be such a reason?" Li Guanhai, vice president of GGF Fund, a foreign shareholder organization, was the first to express dissatisfaction.
Just as Wang Yangyuan was about to speak, he saw Zhou Jie, the chairman of Shencheng Industrial, also nodded slightly, and he couldn't help but feel embarrassed.
Communication has been very poor during this period. You must know that Shanghai Industrial is the current major shareholder of SMIC and has always supported the development of enterprises on behalf of the local government. Even Mr. Zhou is dissatisfied, which shows the complexity.
Wang Yangyuan did not speak, which disappointed all the senior officials who were watching him.
Mr. Zhang Rujing and Mr. Zhang are not here, and Dr. Jiang Shangzhoujiang's health has just improved. Although Academician Wang is a very good person, he is obviously not good at handling business operations, and he is also old... How can SMIC continue to develop steadily?
At this time, another independent director Yang Xiongzhe suddenly asked: "Excuse me, Academician Wang, will Mr. Fang attend the meeting today?"
After everyone heard this, they once again waited patiently for Academician Wang's answer.
"Mr. Fang, Mr. Fang..." Wang Yangyuan shook his head and said honestly, "I don't know."
This is even more disappointing.
There were sighs in the conference room. It seemed that today was another meeting to argue with Datang Telecom.
Independent director Yang Xiongzhe is a professor at Columbia University. He came to attend the meeting this time because he believed that SMIC was in a very difficult situation. In particular, the current economic environment is not good, and it is very likely to lead to a vicious cycle.
However, in addition to the Taiwan reporter's factors, we should also know the specific extent of the difficulties. Otherwise, how can we provide suggestions?
"How is SMIC doing this quarter? Will there be a major loss?" Yang Xiongzhe asked about the performance in the first quarter of this year.
"Our performance at the beginning of this year is quite good. In the past two months, we have added 11 local customers, and our main market in North America has also grown. Although it is indeed dragged down by the DRAM market, there will definitely be improvement in the future." Wang Yangyuan was a little nagging.
State the situation in January and February 2008.
Yang Xiongzhe focused on more specific data and asked again: "Will there be a loss? How much loss?"
Wang Yangyuan was stunned.
"Professor Yang, this quarter is not over yet, and the financial report has not yet been released. If you want to know, just read the financial report then." Chen Liwu, chairman of Walden International, said with some dissatisfaction.
Walden International is a shareholder of SMIC, and Chen Liwu is also a member of SMIC's board of directors.
Li Guanhai, the vice president of GGF Fund, spoke up for Yang Xiongzhe in a nonchalant manner: "A loss is a loss, and how much you lose is how much you lose. What's not to say? You still have to wait until the financial report is released? Who among you can't know that?
Core loss?"
Chen Liwu retorted: "Is it useful? Do you have to hear a number to be happy? This is a problem in the global DRAM market. Do you want to blame it on SMIC?"
Li Guanhai said angrily: "Isn't there any mistake in the decision to carry out DRAM's big promotion? I can't say anything anymore?"
Before anyone from Datang Telecom arrived, there was already a quarrel in the conference room.
At 10:30 in the morning, Datang's team arrived at SMIC.
This time, Datang Telecom came with the chief engineer, chief accountant, and deputy general manager. The first two were the candidates that Datang Telecom wanted to serve as directors after taking shares. Deputy general manager Liu Qingtao was in charge of the negotiations.
"Academician Wang, Mr. Chen, Mr. Zhou..." Liu Qingtao greeted him in a circle and received a lukewarm response.
He didn't mind either and just urged the meeting to start.
"Wait a minute, Secretary-General Jiang hasn't arrived yet." Wang Yangyuan is used to calling Jiang Shangzhou this way, unlike others who call Dr. Jiang.
Liu Qingtao poured the tea and saw that the people in the conference room had almost arrived, so he took the initiative to start the topic: "SMIC's stock price has fallen again. I still think we need to reach a cooperation as soon as possible. SMIC needs to get rid of the current situation as soon as possible.
We have negotiated a board seat, and there should be no objection to this."
Zhang Rujing was absent, Jiang Shangzhou was absent, Wang Yangyuan seemed to be sluggish again, and no one in the conference room could refute.
Board seats are not the main issue, the most important thing is Datang Telecom’s price.
"As for the price that everyone has more objections to, SMIC's stock price yesterday was HK$1.2." Liu Qingtao mused, "The Hong Kong stock market may fall below HK$1 after the market opens. The most important thing is that I don't know what SMIC's future prospects will be.
We at Datang Telecom are willing to invest at this time, and I think everyone should understand each other."
Zhou Jie of Shencheng Industrial frowned dissatisfied and said: "The current stock price is not a true reflection of SMIC's value. Also, Datang Telecom wants to use the price of 0.36 Hong Kong dollars to obtain additional shares. This is too low. You are asking all of us.
The shares and value of the shares have depreciated significantly!”
The major shareholders spoke out what everyone felt.
Both shares and value have depreciated, which is unacceptable.
Liu Qingtao raised his voice and asked: "Excuse me, what will the stock price be after SMIC announces a huge loss? What will the stock price be if SMIC is sued by Taiwan journalists again? Is anyone still willing to invest in SMIC now?"
Li Guanhai, vice president of GGF Fund, did not answer these questions, but also raised his voice to express his position: "We at GFF Fund will never accept the damage caused by SMIC's additional stock issuance to the legitimate rights and interests of shareholders!"
Another shareholder organization, the IETF Fund, also echoed the position of small shareholders: "The additional issuance of Datang Telecom is extremely unreasonable. We will not accept it. If necessary, we can convene an extraordinary shareholders' meeting to let everyone decide together."
Is the additional issuance reasonable?”
Currently, SMIC's largest shareholder Shencheng Industrial only holds 12% of the shares, and the second shareholder Beida Jade Bird only holds 7%. The entire company's equity is quite dispersed.
This was not the first time that Liu Qingtao had contacted SMIC's shareholders and directors, and he said forcefully: "0.36 Hong Kong dollars is the current price. Once SMIC continues to fall, we will immediately reassess the investment, and it will only be less!"
Such a tough attitude did not achieve much results, but made people even more dissatisfied.
The meeting room was filled with quarrels.
Boom, boom, boom.
There was a knock on the conference room door.
Then Du Dong Jiang Shangzhou pushed open the door and entered.
He took two steps without closing the door, and waited for Fang Zhuo to come in before pushing it again.
"Why are you so polite?" Fang Zhuo complained in a low voice. Facing the shocked or surprised expressions in the conference room, he nodded and said, "There are a lot of people. I am Fang Zhuo from Bingxin."
The noise of different positions and different opinions has disappeared with the appearance of Jiang Shangzhou. Seeing that the head of another mainland wafer company really appeared today, complex emotions with different meanings emerged in everyone's hearts.
Mr. Fang is here.
Mr. Fang is really here.
"Academician Wang, sit down, sit down, you're welcome." Fang Zhuo saw that Academician Wang Yangyuan wanted to give up his seat to him. He was flattered and dumbfounded. This was not a high-level meeting of Bingxin. How could he sit in the chair?
After simple greetings and greetings, Wang Yangyuan remained seated, Jiang Shangzhou sat next to the chairman, and Fang Zhuo sat next to Dr. Jiang.
There was a strange silence in the conference room.
Datang Telecom’s negotiation with SMIC this time has a different style from previous investors, and seems to be an alien.
However, Mr. Fang looked even more alien when he sat down.
Fang Zhuo took two sips of tea, opened the document, felt everyone's eyes on him, and pondered for a moment, he came here on business, so he should be more direct.
In essence, SMIC doesn’t have many choices right now.
He started by asking: "Why do you all look at me in this way? I am not SMIC's savior. The only one who can save SMIC is SMIC itself."
These words made the atmosphere in the conference room somewhat closer to the previous style.
Chairman Wang Yangyuan seemed to be energetic and nodded: "Yes, only SMIC can save SMIC, and only everyone here. Only by working together to solve the problem can SMIC move forward."
Li Guanhai, vice president of GGF Fund, continued his previous request: "To solve the problem, you must first know the problem. Can you know SMIC's two-month loss?"
Jiang Shangzhou answered the question directly and simply without being tactful: "In the past two months, SMIC has suffered a net loss of US$79 million. The situation is not optimistic."
Loss of US$79 million in 2 months!
Even Liu Qingtao of Datang Telecom frowned deeply when he heard this number, and the conference room was in an uproar for a while.
You know, SMIC's full-year loss in 2007 last year was only US$19.5 million, which was four times in the past two months!
"Why did you lose so much?!"
“Management must conduct a review!”
"The trend in the DRAM market should have been known for a long time. The decision to expand production capacity is problematic!"
The three people from Datang Telecom remained silent, while the directors and shareholders expressed their opinions.
Jiang Shangzhou didn't even stop the incoming questions after saying a few words.
"Okay, a loss is a loss!" Fang Zhuo is young, energetic and has a high-pitched voice, "Our ice core Lin'an factory has had its storage orders cut off this year! The industry situation is here, why are you excited?
"
He first asked everyone to lower their voices, and then gave an example: "No one can do this. How about Qimonda? The largest storage manufacturer in Europe. How about Samsung? A large manufacturer built by the whole country of South Korea. This is not
Are you all losing money? This industry is like this."
"But this is too much!" Li Guanhai from GFF Fund couldn't help but said.
"The Jingcheng factory wants to change the logic wafer. There is nothing we can do about it. We have to endure the labor pain. If we can't bear it, what else can we say?" Fang Zhuo disagreed on his face, "They also said that my ice core was cut off from the Lin'an factory.
Don’t I feel pain? What should I do if I feel pain? Can I still pick up the knife and go to Qimonda? It’s a loss for the whole world!”
The Ice Core Lin'an Factory made an example twice, which at least made everyone feel more balanced.
Fang Zhuo continued: "I heard Dr. Jiang say that you have talked many times with various opinions. Today I was invited to come over and express my position first. Bingxin and SMIC are in the same spirit and are willing to subscribe for 5
% of the shares.”
An extremely clear statement about the relationship between 5% of the shares and the two companies!
When everyone heard this, their hearts suddenly became clearer.
Ice Core is the only 65nm wafer mass production company in the Mainland, and Mr. Fang has strong dominance. This is stable and good news no matter how you look at it.
Fang Zhuo observed everyone's expressions and continued: "With this 5% future shareholder status, Mr. Zhang is not here today. Dr. Jiang and Academician Wang and I have also known each other for a long time. Our first goal is to simplify complex problems for all of us.
Keep doing things and just procrastinate will not solve the problem."
There was little resistance in the conference room.
When it comes to business management, both Academician Wang and Dr. Jiang are not as professional as the head of Yike, and his words are convincing.
"Isn't the biggest thing now just dissatisfaction with Datang's share of money? One side thinks it's enough, the other side thinks it's not enough, what else is there?" Fang Zhuo asked.
At this time, Li Guanhai from GFF Fund complained: "172 million US dollars, 0.36 Hong Kong dollars, Mr. Fang, this is treating us like monkeys."
"Aren't other investors not even playing tricks?" Fang Zhuo asked rhetorically.
Li Guanhai and others changed their expressions slightly. Mr. Fang, co-author, is here to help Datang today?
Zhou Jie of SMIC's major shareholder Shencheng Industrial slowly spoke out: "Mr. Fang, you can't say that. SMIC has encountered difficulties, but we must not sit back and watch its value lose."
"I called Director Wang before I came here, and by chance, Mr. Zhou, you are here. When this is over, we will go to Director Wang to talk about this matter." Fang Zhuo said succinctly, "It's not appropriate to delay."
Zhou Jie suddenly stopped talking, Mr. Fang, you are so... so powerful and resolute!
Then I'll reserve my opinion for the time being and wait until I've gone to see the director.
Fang Zhuo first addressed the opinions of a major shareholder, and then emphasized again: "Maybe many of you haven't realized how difficult the difficulties SMIC has encountered. This meeting is very important, but even if it is so important, Mr. Zhang Rujing and Mr. Zhang did not realize how difficult it is."
When he comes back to participate, he has to solve the problem outside. I have to emphasize to you that SMIC's problems cannot be delayed. Today we will come up with a framework."
He looked at the shareholders and directors opposite and said to Chen Liwu of Walden International: "Mr. Chen, I haven't seen you for a long time. Who am I, Fang Zhuo? If others don't believe it, you should believe it, right? In today's situation, everyone has to kill everyone."
We work together."
Chen Liwu pondered for more than ten seconds under Mr. Fang's gaze and nodded slightly: "I believe in Mr. Fang's character. Do you think SMIC can get better after taking Datang Telecom's money?"
Fang Zhuo said directly: "I'm not sure, but without this money, it will definitely not be good."
Chen Liwu was silent for a while and said: "Okay, let's work together as one."
The chairman of Walden International was so easily persuaded, which surprised Jiang Shangzhou, Liu Qingtao and others - Why did Mr. Chen believe in Mr. Fang's character?
Fang Zhuo had no interest in explaining more on this occasion.
Walden International has indeed had dealings with it for a long time. When it acquired Sina in good faith, President Mao Daolin came from Walden, and Walden International invested in Sina very early.
When Sina changed its last name, Walden International wanted to sell its shares, but Fang Zhuo dissuaded him on the grounds that the stock price would definitely rise.
This reason also helped Wu Zheng of Xiangjiang Sunshine Culture leave the company at a high position.
Such a group of former shareholders of Sina are very grateful to Fang Zhuo, which can be regarded as a personal favor.
Fang Zhuo solved two big companies one after another. The representatives of Peking University Jade Bird did not need to negotiate. Academician Wang Yangyuan is the dean of Peking University. They will stand together.
He looked at the very expressive GFF Fund Li Guanhai and another IETF fund with similar characteristics, frowned and said: "The U.S. stock market has fallen to such a low point. If we can try to stop the decline here, don't worry about it."
"I can understand the anxiety of GFF and IETF. Such anxiety has also appeared in Goldman Sachs. I have had good communication with Goldman Sachs. I think this kind of trust can be used as a reference."
"Now is not the time to hinder SMIC from getting money. Your attitude is counterproductive."
"I told Goldman Sachs about something similar, and we can talk about our experiences in this area together in the evening."
Fang Zhuo was talking about the departure of investment institutions such as Goldman Sachs from SMIC.
Li Guanhai had heard a bit about the other party's reputation. The most important thing was that he saw with his own eyes how this person persuaded Zhou Jie and Chen Liwu vigorously and resolutely, with a very straightforward style.
He didn't agree immediately because of Goldman Sachs' reputation, but he still took a step back and asked: "Mr. Fang, do you think Datang's price is really suitable?"
Fang Zhuoli said neatly: "It's not appropriate."
The three-word evaluation cheered up SMIC's shareholders. It's better to be in peace than to be in conflict!
Liu Qingtao was sighing in his heart about the name of the tree, but suddenly he was dealt with by Mr. Fang. The expression on his face was a little distorted, and he said slowly: "Mr. Fang, since you just said that SMIC is very difficult, you must know the price you are giving it now.
It is linked to the future, and we are already trying to give a high price."
Fang Zhuo maintained his business style: "This price makes all SMIC shareholders dissatisfied. Datang Telecom is here to help SMIC, not to create new problems. SMIC must be stable, and this is one of them."
"$172 million is not enough for SMIC to complete the conversion and upgrade of the production line of the Beijing factory and to resist risks in the near future. Datang Telecom is here to solve the problem. This is the second one."
"Solving the problem is everyone's expectation. I don't think Datang Telecom's current approach is in line with this expectation. This is the third one."
"Fourth, I noticed that Datang Telecom requested two board seats from SMIC, which puzzled me? What does Datang want to do? Is it seeking control? Is it trying to interfere with SMIC's operations?"
Fang Zhuo closely linked to an important off-site factor for Datang Telecom’s appearance here.
It is here to solve problems and is asked to solve problems.
Liu Qingtao managed his expression this time and shook his head: "Mr. Fang, of course we want to solve the problem. The price of US$172 million has been fully measured. There is no need to discuss this anymore."
He bit the price to death.
"Bingxin can subscribe for 5% of the shares, or fully subscribe for all the shares proposed by Datang Telecom." Fang Zhuo frowned and said, "Mr. Liu, since Bingxin is already sitting here, since Shencheng Industrial, Walden International,
Shareholders like GFF are willing to sit down and negotiate as soon as possible, so there should be room for flexibility in this matter."
Liu Qingtao shook his head again: "No, Mr. Fang, this is not the first time we have negotiated with SMIC. We have already raised the price once, and this is the final offer."
He saw that Mr. Fang was able to unite this group of people, and felt that he was very hopeful of reaching cooperation under the current conditions this time.
Fang Zhuo frowned and said nothing.
Liu Qingtao was about to show off: "Mr. Fang, you can weigh it again. Datang Telecom can discuss it next time."
Fang Zhuo did not look at Liu Qingtao, but looked at Zhou Jie, Chen Liwu, Li Guanhai, Wang Yangyuan, Jiang Shangzhou and others with whom he had just communicated, and made eye contact with them to confirm that he could gain a certain degree of dominance.
"There will be no next time, Mr. Liu, you can leave, but it is difficult for Datang Telecom to come again. Even if Datang Telecom can come, we will not talk to you Liu Qingtao." Fang Zhuo said lightly, "SMIC
Welcome helpers who can help solve problems, rather than exploiting every opportunity."
Liu Qingtao looked at Fang Zhuo and the others, and his motivation to leave his seat disappeared: "Mr. Fang, this is not a squeeze, this is a reasonable price!"
"Mr. Liu, no one understands what a reasonable price is better than me or the chairman of Bingxin. If Datang Telecom is not sincere, you can leave now." Fang Zhuo was very sure.
Liu Qingtao felt the intensity of Mr. Fang's words and hesitantly glanced at the other two chief accountants and chief engineers who came with him. This ice core leader did... indeed have an influence off the court.
Especially in the field of semiconductors.
Gao Yonggang, the chief accountant of Datang Telecom who had been silent, smoothed things over: "Mr. Fang, this matter cannot be decided by the three of us. You can say a number that you think is reasonable, and we have to go back and ask the leader for instructions."
"220 million US dollars, 15%." Fang Zhuo took out the plan and handed over a decent evaluation document, "Ice core US$73 million, 5%."
Liu Qingtao and Gao Yonggang realized that Mr. Fang was not just talking casually. They looked at each other and realized that this offer increased the price and reduced the shares. They felt that they really needed to discuss it carefully with their leaders.
"Mr. Fang, this needs to be discussed again." Liu Qingtao stood up confidently this time and shook hands with Mr. Fang, "This really requires us to go back and talk to the leader."
Fang Zhuo shook Liu Qingtao's hand up and down: "Okay, Mr. Liu, please be sure to bring our SMIC's sincerity with you."
Liu Qingtao felt the strength of Mr. Fang's hand, took a breath, and had a deep impression of the person in the rumors.
This chapter has been completed!