The most fundamental reason why Xu Li is so determined to withdraw from the mobile phone industry is that he is very aware of the embarrassing situation Bird is currently facing.
When it comes to technology, waveguide actually doesn’t have any good technology.
Seven or eight years ago, at that time, Xia Guo’s license to produce mobile phones was not something you could just get if you wanted to. It required competition and connections.
Therefore, only a small number of mobile phone manufacturers can obtain mobile phone production licenses.
Bird was not particularly lucky and did not obtain a mobile phone production license.
But Xu Liququ saved the country by introducing the technology and production lines of Sagem, the largest mobile phone manufacturer in France.
More than 20,000 mobile phones were produced at once, and they bypassed the embarrassing situation of obtaining a domestic mobile phone production license and directly used the domestic mobile phone production license obtained by Sagem.
At that time, mobile phones were dominated by overseas brands, such as Motorola, Nokia, Samsung Ericsson, etc., and they were all famous for a while.
After Waveguide Mobile Phones was able to produce mobile phones independently, the cost of feature phones dropped immediately.
So after several years of hard work, Press has become the number one mobile phone brand in Xia Guo, and has a tens of billions of industry.
But since last year, although the sales of Bird mobile phones have increased, they can't make any money selling a mobile phone. Instead, they are still losing money without limit.
This has caused the entire waveguide production line to be down so far.
Now is the era of smartphones. Bird has no way to develop its own operating system or even buy matching chips. It can only make feature phones. This is the technical disadvantage of Bird.
The market for waveguides is also shrinking on a large scale.
After all, the country has now abolished the mobile phone license review system.
As long as you have the corresponding production equipment and meet the corresponding network access requirements, you can produce mobile phones.
Feature phones do not have any particularly advanced functions, they are just for making phone calls, sending text messages, or adding a camera function.
Such mobile phones rely on the assembly of parts.
Many of the things that waveguides can do can also be done with copycat mobile phones.
In addition to being many times cheaper than waveguides, mobile phones now also have many creative ideas that waveguides cannot even imagine.
For example, exaggerated marquees, loud speakers, large batteries that can be used for a month without charging, mobile phones that can be used as flashlights or lighters, etc.
Under the impact of copycat mobile phones, Xu Li felt that there was no market for his own mobile phones after all.
So the decision Xu Li made at this time was the same as when he decided to quit pagers and enter the mobile phone industry. He wanted to quit the mobile phone industry and enter the automobile industry.
He is very optimistic about the automobile industry because he believes that with the country's economic development, more and more people will drive cars.
Bird's willingness to enter the automotive industry was not Xu Li's decision.
Xu Li had already tried to cooperate with Nanjing New Yatu in 2003, acquiring 36% of the shares of New Yatu, and launched New Yatu in 2004.
However, cracks appeared in the cooperation between the two parties, and Bird withdrew its investment completely.
In 2005, Xu Li found Xincheng Group in Xiangjiang City to establish an engine company and acquired Shenma Motors.
However, Xu Li's dream of building a car was shattered once again when he failed to obtain the qualification to produce a car.
Immediately afterwards, Xu Li found Changfeng Automobile, and there were some cracks in the current cooperation between the two parties. The most important reason was that Bird's funds could not keep up.
Producing cars is like smoking DP. After a steady stream of capital investment, there is indeed no effect. But I can't help but continue to invest money.
Xu Li was very panicked when he saw that the assets of some joint venture car companies exceeded the market value of 10 billion to 100 billion RMB in an instant.
Because he knows very well that making a mobile phone and selling it for one or two thousand yuan will never reach this level.
Xu Li is also preparing to throw away his negative equity and mobile phone business and devote himself wholeheartedly to the production and research and development of automobiles.
After turning off the TV in the office, the secretary called Xu Li.
"Hello Mr. Xu, the guest you were waiting for has arrived."
Hearing this, Xu Li quickly stood up and said: "You invite the guests to drink tea in the conference room first, I will come right away."
Xu Li and Bird's board of directors hope to find a powerful company to take over Bird's mobile phone business.
But in 2007, the mobile communications business was in an era of change, and Nokia was able to dominate the world.
Many large companies are very sensible and do not dare to take over a mobile phone company like Bird.
After all, getting it means one word - death!
So Xu Li and Bird's team still put a lot of thought into it.
On the one hand, it is to package Bird's mobile phone business and process the financial data through technical means so that the buyer can feel that it is profitable to buy Bird's mobile phone business.
On the other hand, it is to find various senior figures in the Shenzhen market to act as middlemen.
I hope the intermediary can find a way to promote Bird's mobile phone business and find a suitable successor.
Of course, intermediary fees are definitely indispensable.
Although Xu Li said it was not announced to the outside world, the agency fee!
The default should be 1‰ points.
Xu Li's Bird mobile phone business is currently priced at RMB 2 billion (Bird is a listed company with a current market value of RMB 2.3 billion, currently about 40% of the shares are outstanding, and senior Bird shareholders such as Xu Li hold 60% of the shares).
The reason why the price is set at 2 billion is because we hope that the new shareholders can pay off Bird's debt of more than 500 million and close to 600 million.
What Bird's top management requires is to acquire 60% of Bird's non-tradable shares for RMB 1.2 billion to solve Bird's debt problem.
The boss of the Shenzhen market has already called Xu Li and found a big-money buyer.
There is absolutely no problem with the other party's funds, and Xu Li will definitely be satisfied.
That's why Xu Li was so nervous after receiving the call.
Because in all fairness.
At this juncture, Xu Li felt that anyone willing to acquire Bird was either a fool or a fool.
No matter how beautifully packaged the project is, it cannot withstand the gold and jade on the outside and the blemishes on the inside.
Xu Li arranged his suit and came to the conference room.
"Hello, Mr. Liu, hello!" Mr. Liu was the middleman entrusted by Xu Li and was also the leader in charge of business and finance in Shenzhen City.
After Mr. Liu and Xu Li joined hands, they introduced the people around them, "Mr. Xu, this is Sun Dong, the managing director of Changtian Technology and the general manager of Yuedong Internet!"
After hearing Mr. Liu's introduction, Xu Li was simply stunned.
It turns out that the big-name company introduced by Mr. Liu is Changtian Technology!
Although Sun Dongxu Li has never met him, he has long admired his name.
Yuedong Internet controlled by Sun Dong, with the bull market in the A-share market, the current share price has reached 150 yuan, and the market value has exceeded 100 billion RMB.
At present, Bird's total market value is only 2.3 billion, and it still has liabilities of 500 million and close to 600 million.
The two parties are not a large-scale company at all.
If Bird can be acquired by Changtian Technology, Xu Li feels that he has found a good buyer for Bird, and he will have absolutely no problem raising funds for building cars.
This time Sun Dong was able to come to Shenzhen to discuss business with Bird because of Chen Xiao's arrangement.
If Chen Xiao wants to enter the mobile phone market, he must first test the waters.
Chen Xiao also calculated a general ledger, even if Changtian Technology has mature mobile phone production technology.
If Changtian Technology builds its own production line (currently Tiangong Technology's production line is still serving Nokia, and both parties have a contract, it is impossible to use it to produce Changtian Technology's mobile phones), and then start from scratch to find suppliers of raw materials.
, to build sales channels (in 2007, online shopping was not as developed as in later generations, and mobile phone sales channels were mainly offline), then the funds spent would definitely be no less than 2 billion.
The reason why Chen Xiao chose Bird as an acquisition target.
What matters most is Waveguide’s mature production chain, raw material channels and sales market, as well as its good reputation.
Of course, Chen Xiao did not do this to save Bird.
Instead, we plan to use waveguide as a springboard to familiarize ourselves with the mobile phone market in this era, and finally completely kick the waveguide brand away.
Chen Xiao has calculated his income before and after.
Before kicking away Bird's brand name, Chen Xiao will definitely double Bird's market value and double it again, so that he can make a steady profit without losing money.
Moreover, Changtian Technology has just sold Mozi Communication’s 3G business and made a total of 350 billion RMB.
Men make money to spend it.
Those who make a small amount of money buy toys, games and computers.
Those who make a lot of money buy cars and houses.
The one who makes a lot of money is, of course, buying companies.
Anyway, it’s just for fun.
And before Sun Dong came to Shenzhen City.
Changtian Technology has already taken some actions.
Based on the A-share circulation market, nearly 300 million RMB has been spent to acquire nearly 15% of Bird's shares.
That is to say, 15% of the current 40% of outstanding shares are in the hands of Changtian Technology.
However, all this was done through the brokerage company, so the outside world did not know about it, and Bird's stock price has been falling without any improvement.
The current market price is 4 yuan and 19 cents.
"Hello, Mr. Sun, hello, I have long admired your great name, I have long admired my great name!"
Xu Li was very excited, as if he had seen the great savior.
Xu Li immediately personally reported to Sun Dong the current operating conditions of Bird and the relevant conditions for the sale.
Sun Dong didn't show any airs. When Xu Li spoke, he remained silent and listened patiently.
Finally, Sun Dong put forward his four demands.
"For the first requirement, we will send an independent audit team to conduct a complete audit of your company's financial situation and provide a corresponding evaluation report. Only if it meets our corresponding requirements will we proceed with the acquisition."
"The second requirement is that if we find after the audit that the company does not meet our acquisition requirements, or if we find any financial fraud, we will immediately terminate the negotiation. So we hope that we will not be provided with false financial circumstances.
"
When he said this, Sun Dong smiled.
At this time, Sun Dong was much more murderous than when he was playing games in the Internet cafe.
Following Chen Xiao for so many years, Sun Dong also relied on self-study to complete his undergraduate, business administration, and master's degrees.
He is no longer the yellow-haired social youth who yelled in Internet cafes and was ready to kill people.
Xu Li's face became a little confused.
He was able to conceal his financial situation in front of other companies, but he did not dare to do so in front of Changtian Technology.
Changtian Technology has been able to grow into such a huge technology company and has a dedicated financial team. Its capabilities are not inferior to those of major firms around the world.
"The third requirement is that we will re-evaluate based on the audit report, so we do not fully recognize the quotation given to us by Mr. Xu."
"The fourth requirement is that during the audit process, it was proved that the negotiations between our two parties have not fully started. Therefore, according to the relevant requirements, we can not announce the corresponding information to the public. This can ensure the stability of the stock price. I don't want Bird to
During the period of our audit, there was any dramatic and irrational rise in stock prices."
This is to prevent some speculators, especially some senior executives from Bird, from trying to find ways to exploit the news in the securities market and seek unfair benefits.
Xu Li's heart was beating wildly, he knew this was an opportunity for Bird.
If you can seize this opportunity, then you may be able to withdraw from the waveguide and devote yourself to the production and research and development of automobiles.
So he said: "Mr. Sun, please rest assured, we will fully follow the arrangements of Changtian Technology and try our best to cooperate!"
Changtian Technology has always done things vigorously and resolutely. It will not be like some companies negotiating with Xu Li, talking about a lot of nonsense.
The two sides negotiated for only two hours and reached a preliminary agreement.
Early on the morning of the second day, Changtian Technology's audit team officially settled in Bird Company, keeping the entire process confidential.
The leader of the audit team is Wen Qi.
In recent years, through experience, Wen Qi has become able to act independently and has become Chen Xiao's right-hand man.
Wen Qi was wearing a clean and sophisticated professional attire and had refreshing, ear-length short hair.
Compared with the student days, he is more mature and more charming.
After Xu Li saw Wen Qi and others moving in, his heart felt cold.
Because he knows that women are not easy to mess with, especially women who are knowledgeable and educated.
The audit team's work efficiency is very high. After entering the site, they completed the audit plan first, and then started investigating and collecting evidence. It is expected that the audit task of Bird Group can be completed in two weeks.
After finishing a day's work, a somewhat tired Wen Qi returned to the hotel.
At this time, Wen Qi's cell phone rang.
When she saw the caller number, she quickly adjusted her mood.
"Chen Xiao."
Although the two people are now in a superior-subordinate relationship, they are classmates and their relationship is particularly close.
Therefore, except in formal working situations, Wen Qi is still accustomed to calling her by her first name.
"How do you feel about entering the market these two days?"
Chen Xiao asked with great concern.
Wen Qi said a little tiredly: "One word, chaos!"
"The entire financial information is very messy. It's hard to imagine that this is a listed company."
In fact, it is not just Bird that has messy financial information. In this era, most listed companies in Xia Guo are a mess.
All kinds of fraud are quite common.
Wen Qi complained a little: "I don't think we are doing audits, we are here to help them with their finances."
Chen Xiao laughed dumbly, "Come on down, go out and relax."
"Ah!" Wen Qi said in great surprise: "Are you in Shenzhen City?"
Chen Xiao said: "I'm downstairs."
"I'll be down right away!"
What could be more surprising than this?
Wen Qi swept away the fatigue from work and prepared to go downstairs with her bag.
But suddenly she thought of something else.
Quickly go back to the bathroom and look at yourself in the mirror.
Well, my face is a little pale and my complexion is not very good.
Wen Qi's skin is as good as Shen Wei's.
No matter when I was a student or when I was working, I basically didn’t wear makeup.
But girls always want to show their best side in front of the most important man.
So she took out another lipstick from her bag and applied it on her lips.
Lipstick is a particularly magical cosmetic.
As long as your lips become rosy, your whole complexion will become completely different.
Chen Xiao is sitting in a Mercedes-Benz S450.
As soon as Wen Qi looked at the license plate number, she knew that Chen Xiao had borrowed Wu Jun's car again.
She couldn't help but laugh, and said with some joy: "Why are you suddenly in Shenzhen City?"
After Chen Xiao said something to the driver and part-time bodyguard Ye Qiangdong, Ye Qiangdong drove towards Xiaomeisha.
Ye Qiangdong is one of the people Chen Xiao trusts most, so Chen Xiao will basically not avoid him no matter what he says or does.
Chen Xiao said: "The winter winds in Changzezhou are relatively strong. I'm not afraid of the cold. It's warmer here in Shenzhen City."
Although Changzezhou is on the seaside, it is in the eastern part of Xia Kingdom.
It is affected by the subtropical monsoon climate, with relatively strong winds and relatively low temperatures in winter.
Shenzhen City has an oceanic subtropical monsoon climate, and the climate is warmer.
Wen Qi couldn't help laughing.
Chen Xiao said: "Didn't Wu Jun give me a villa? It's in Xiaomeisha, only about half an hour's drive from here."
"A few of them are having barbecue and supper inside. I'll take you over to join in the fun and relax."
After arriving at Chen Xiao's villa, Chen Xiao said to Wen Qi: "I have things to do in Shenzhen City during this period, so I won't stay here in the villa. If you think it's not convenient to stay in a hotel, just stay here. I'll leave your things."
I will arrange it for you, and it will be convenient for you to use a car and so on."
There are two reasons why Chen Xiao made such an arrangement.
First, he and Wen Qi had a friendship from when they were students. It was not a complete superior-subordinate relationship. Chen Xiao still took good care of Wen Qi.
The second reason is that auditing Bird's company operating conditions is still quite stressful.
Bird will definitely find ways to make their finances look better, and they will also find ways to put some pressure on Wenqi.
Chen Xiao doesn't want Wenqi to work in a stressful environment, so the hotel is not a particularly safe place.
Let Ye Qiangdong follow Wen Qi here and let Wen Qi live in a villa. He also hopes that Wen Qi will feel at home and be able to relax at work.
Wen Qi had some surprises, and her heart was slowly moved.
She waved her hands repeatedly and said, "No, no, I'm fine in the hotel, and the hotel arranged by Bird is also a five-star hotel, so the accommodation conditions are pretty good."
Chen Xiao smiled and said to Wen Qi: "A hotel is not as comfortable as home, so this is the arrangement."
Wen Qi showed a sweet smile and did not refuse.
She has been with Chen Xiao for so many years, and she knows Chen Xiao's character very well.
Don't argue with him about things that have already been decided.
Wu Jun arranged a dinner party in the villa.
But the atmosphere is very relaxing, and Chen Xiao's villa is connected to the sea.
On the beach near the sea, there is a bonfire and barbecue music, and the atmosphere is very relaxing.
Now Wen Qi also knew why Chen Xiao invited her to the party?
On the one hand, it must be to relax myself.
On the other hand, everyone who came to the party brought a female companion, including Sun Dong, who didn't know where he got a girl to dance with him.
So it was logical for Chen Xiao to let Wen Qi be with him.
Thinking of this, Wen Qi's face turned a little red, but she also felt something strange in her heart.
Watching the gentle rolling waves under the light.
Wen Qi suddenly felt like enjoying this moment.
It would be great if time could stop here and feel the comfortable sea breeze.
The next two weeks will be the busiest time for the audit team.
At the time requested by Chen Xiao, Wen Qi's audit team completed the audit report.
The audit report totals more than 100 pages and covers all aspects of Bird's operations.
Chen Xiao flipped through the report and found that Bird's operating situation was worse than Chen Xiao imagined.
The sales of the entire mobile phone have almost stagnated, not only production has stagnated, but also inventory destocking has stagnated.
The sales volume is even pitiful, with sales last month being only a few thousand units.
The scariest thing is that Hebo’s current mobile phone competitors are not first-tier brands such as Motorola and Nokia.
Instead, there are various copycat mobile phones whose names I have never heard of.
However, one good thing is that the supply and sales system of waveguides is relatively complete.
We still maintain good cooperative relationships with major raw material suppliers.
A person can get sick, but his blood vessels and tendons cannot be blocked.
At present, Waveguide is like a sick enterprise, but its body function is not bad.
After Chen Xiao made a detailed research report, he said to Sun Dong: "The current market value of Bird is 2.3 billion RMB, and the price is still too expensive. According to the audit report, around 1.8 billion is more reasonable."
"You can negotiate with Xu Li based on 1.8 billion RMB. Based on 60% of the shares, which is 1.08 billion, we offer 1.05 billion."
Men can buy toys if they have money.
That doesn’t mean you won’t negotiate the price when looking at toys.
Any toy still has its reasonable valuation.
After Sun Dong accepted Chen Xiao's order, he immediately started a new round of negotiations with Bird.
When Xu Li learned about Changtian Technology's quotation, he was shocked.
From 1.2 billion to 1.05 billion, it suddenly shrunk by 150 million.
This is absolutely unacceptable to Xu Li, who is extremely short of funds.
Xu Li was the first to express his objection. Of course, his tone was very tactful and he did not want this negotiation to go south.
Xu Li moved with emotion and reason with Xiao, hoping that Changtian Technology could increase its price.
Sun Dong never talked nonsense with Xu Li. Benefiting from Chen Xiao, Changtian Technology began to sell off the Bird shares it had acquired from the market in batches.
Bird's shares continued to fall by the limit, and there was even news in the market that Bird would go bankrupt.
After suffering a severe beating from the capital market, Xu Li suddenly realized what he was doing.
Changtian Technology is not negotiating terms with Waveguide, but the conditions given confirm that it will acquire Waveguide.