On June 23, the news of Sina’s extraordinary shareholders’ meeting was brewed overnight, and many media outlets conducted intensive reports in conjunction with the news from Sina.com.
Beiqing.com, which once reported on Yike's overseas infringement charges, gave their judgment on the battle for control of Sina:
"Yesterday, Sina held an extraordinary general meeting of shareholders, revealing that Fang Zhuocai is the actual controller of MIGA Fund."
"Anyone with a discerning eye can see that Fang Zhuo used the banner of the board of directors to harm the rights and interests of shareholders, but in fact he was seizing control of Sina."
"As we all know, Sina's success from its establishment to development to its listing in the United States has nothing to do with Fang Zhuo."
"If the control of an enterprise can be easily usurped like this, who can run a business with all their heart and in a down-to-earth manner?"
"What's more, where is the source of Fang Zhuo's funds? The MIGA fund has been established for several years, how could it be possible that he founded it? Yike is only a year old, so it is impossible to have so much funds."
"Before yesterday, we judged that Sina was experiencing a hostile takeover by foreign capital. Now it seems that this judgment cannot be overturned in a hurry."
"What Sina encountered was probably an attack by foreign agents!"
The newspaper "Beijing Daily" also has the latest report:
"Whether it is MIGA Fund, Yike Investment, or Fang Zhuo, this share acquisition without communication with Sina's board of directors is malicious."
"The development of enterprises requires stability."
“Fang Zhuoyifang requested to convene an extraordinary shareholders’ meeting immediately after Sina’s annual shareholders’ meeting. This not only caused panic within Sina, but also attracted the attention of the industry.”
"They undermined the stable development of Sina, the domestic portal leader."
"The situation at the extraordinary general meeting was very intense, which was not beneficial to both parties."
"The reason why a hostile takeover is called malicious is that this battle based on control is likely to hurt both sides and end up in a mess."
"Fang Zhuo should sit down and talk to Sina instead of threatening to 'apply for company dissolution'."
"Perhaps, Fang Zhuo's behavior is not illegal, but business behavior must not only be legal, but also must be morally constrained."
The China Economic Times also suffered. Not only did they compile various news about the battle for control of Sina, but they also quickly interviewed different business leaders for their views on the incident.
As two portals listed on the US stock market, Ding Lei and Zhang Chaoyang were naturally among those interviewed.
NetEase Ding Lei:
"I'm very surprised. It's beyond my imagination. If there are no problems with the SEC acquisition permit displayed by Fang Zhuo, then this will indeed teach a lesson to domestic listed companies."
Sohu Zhang Chaoyang: "
"From what I heard now, Fang Zhuo is indeed very capable. I have heard of him before and had a relationship with CCTV, but I really didn't expect that he would be so ambitious in seeking control of Sina.
However, I think Fang Zhuo's method is a bit too drastic, and it will be difficult to end like this. I am very curious about Fang Zhuo's expectations for this situation.
When the battle for control of Sina is settled, I believe we will all hear more interesting news and insider information. I don’t know more than everyone else, and I have been refreshing the news on the Internet.”
The relationship between Lenovo Liu Chuanzhi and Sina Duan Yongji is very good, and the newspaper responded as soon as it was contacted with a try attitude:
"Strongly condemn this kind of hostile takeover of enterprises! Fang Zhuo's behavior is very bad! This is hurting the Internet industry! Support Sina in launching a corporate defense war!"
Shi Yuzhu, who just registered Giant Company in Shanghai:
"Sina is obviously in trouble, but I am not optimistic about Fangzhuo's acquisition. The most likely scenario is a prolonged stalemate. The two sides should still sit down and talk, and the competent authorities should play a role in the middle."
Feng Lun from Wantong Group:
"Fang Zhuo's actions are very unbusinesslike. He should think more about it."
Guo Guangchang of Fosun Group:
"Oh, I have seen the report, but I have never met Fang Zhuo. Well, what he is doing now is not pleasing, and it is not something worth bragging about."
"Even if Fang Zhuo controls Sina, what can he do? He has nothing to do with Sina's business and has no experience in this area. Forcibly controlling such a famous portal will only make people feel sorry for Sina."
Many business leaders have expressed their opinions on the battle for control of Sina, and generally do not support Fang Zhuo's actions against Sina.
The direction of public opinion was completely in favor of Sina's board of directors.
Many company leaders from other industries appeared in this wave of interviews and reports. It is obvious that not only the Internet industry is paying attention to this matter, but the battle for control of Sina has attracted worldwide attention.
Because of this, Fang Zhuo's notoriety became known throughout the world in a short period of time.
However, Fang Zhuo himself did not pay much attention to the report. However, Feng Bing, the vice president of Yike Investment, believed that the impact of public opinion should be considered and reported the fierce discussion that emerged.
"I remember yesterday it was not just Sina's own media, but also CCTV, right? Is there no news from them?"
Fang Zhuo briefly browsed the reports from all parties and recalled his observations in the conference hall yesterday.
Feng Bing quickly called to ask about this matter, and after a while he replied: "CCTV also reported it, but it was just a text message."
"Oh, text message, that means I don't have any position at the moment." Fang Zhuo nodded, "I'll see if I can make an appointment with them tonight and give us a response from our side. This is considered an exclusive report. We should give it to them.
Said it was valuable."
Feng Bing nodded happily.
As the saying goes, everything ends in vain. Even though his name didn't appear in the reports, he was already feeling more pressure.
"Let's go and take a look at the situation on Sina today." Fang Zhuo said as he walked, "Don't take public opinion too seriously. Public opinion is useful, so why should I bother so much?"
"Uh." Feng Bingzhen sensed disapproval from his boss's words.
Today is the second session on the second day of the Sina Extraordinary General Meeting of Shareholders. It is still the same location and the same formation as yesterday.
But compared to the situation in the hotel yesterday, today there were more media who came to the hotel after hearing the news and stayed outside.
Fang Zhuo did not get out of the car immediately after arriving. He took his sister Zhao Suqi with him in the car today as a temporary assistant.
After the team set up their positions to ensure that they would not be forcibly interviewed, Fang Zhuo took Zhao Suqi out of the car and went straight to the conference hall on the first floor of the hotel, showing no intention of responding to the loud questions.
At three o'clock in the afternoon, CCTV media was not present today, and Sina media became the exclusive report.
Fang Zhuo glanced at the camera, thinking that the other party must not have anything nice to say about him, and how to attack and discredit him.
"Vote."
The Sina Board of Directors in the conference hall were still waiting. Fang Zhuo waited for a while but didn't hear what the other party said. He didn't sit down. He stood directly in the middle aisle and uttered these two words.
After a night of maneuvering, Duan Yongji was full of fighting spirit: "Whatever you want to invest in, your SEC acquisition license has not been verified yet."
Fang Zhuo said calmly: "Then get tested quickly."
Duan Yongji refused to answer the question and asked: "Fang Zhuo, look at Sina, look at the outside media, look at domestic entrepreneurs, aren't you afraid of being cast aside for using such despicable methods?"
Last night, Duan Yongji almost stayed up all night. The outbreak of public opinion in the media was part of the results of his work. The mere existence of the "Taishan Industrial Research Institute" made it easy for him to call on quite well-established business friends to put pressure on him.
"The SEC's acquisition permission has not been spurned, and the shares in my hands have not been spurned."
Fang Zhuo smiled half-smilingly and said loudly: "Also, when you transferred the shares to me, you didn't say you spurned the money I gave you. What are we going to talk about now?"
The board of directors all knows that the shares of Fang Zhuoyike Investment come from Duan Yongji, and the co-chairman also reflected on this matter at last night's meeting.
But the Sina executives and small and medium-sized shareholders present were still unaware of this, and were shocked upon hearing this.
Duan Yongji's words on this were filled with anger from the bottom of his heart: "Fang Zhuo, you are not ashamed of your despicable methods, but are instead proud of them?"
"Duan Yongji." Fang Zhuo shook the proposal in his hand, "Smearing your character and morality can't make you look so noble. Didn't you let Wang Zhidong come over today to make you forget about driving away the founder last year?"
When the Sina reporter in the back row heard this, he whispered to the photographer: "Don't forget to cut this section."
Duan Yongji angrily said: "Wang Zhidong and we have internal differences!"
"Then remember to call me..." Fang Zhuo paused. "Director Fang" didn't fit the situation. It was Feng Bing and Davis who joined the board of directors, "Fang Major Shareholder."
Seeing that the others had no intention of communicating at all, he threw the proposal documents on the table just like yesterday, and unilaterally announced: "If you don't vote, the meeting will be dismissed and we will continue tomorrow."
There were dissatisfied voices in the conference hall.
However, Sina's major shareholder Fang turned around and left without hesitation.
The second extraordinary shareholders' meeting lasted less than ten minutes. Before the reporters outside could take a break, they saw everyone from Fang Zhuo's side walking out.
"Mr. Fang, Mr. Fang, did you come out so quickly today because the negotiations broke down?"
"Fang Zhuo, do you want to say something to the people who care about Sina?"
"Fang Zhuo, do you think your behavior is despicable?"
Fang Zhuo didn't say a word, got into the car, and waited for the black Audi to drive away slowly.
Zhao Suqi, who didn't come yesterday, came with great interest today to broaden his horizons. However, he only watched for a few minutes and left in a hurry. At this moment, he couldn't help but ask: "Brother, is this like it? There seems to be no substantive communication."
"Don't worry, we are just expressing our stance now. Both sides will not give in. Duan Yongji must have connected with the shareholders, but if he is too scrupulous to vote, it is a failure." Fang Zhuo shook his head, "He is using off-market tactics. Public opinion is not good, it is useless, I
Let’s see what else he can do.”
Zhao Suqi nodded, remembering his brother's determination and patience.
Before the Audi had driven far, Fang Zhuo's cell phone rang in his pocket. A number he had saved but never called was none other than Director Liu from yesterday.
"Mr. Fang, today's shareholders' meeting will be very soon." Director Liu said with a hearty smile.
Fang Zhuo didn't want to say much at this time, and said straightforwardly: "It's pretty fast. Duan Yongji doesn't dare to let shareholders vote, and there's nothing I can do about it. Director Liu's call won't tell me to get off the tiger, right?"
Director Liu pondered, it is indeed a difficult situation to get out of, but today's public opinion is really turbulent beyond expectations. As the competent department, the situation must be resolved and this influence cannot be allowed to spread.
"I made an appointment with CCTV for an interview in the evening. If Director Liu doesn't mind, you can come and be interviewed together. I received a lot of attacks today." Fang Zhuo extended the invitation, "The truth is getting clearer with each argument, and I am willing to give it to those who pay attention to this matter."
Someone please provide a transparent clarification.”
Director Liu thought for a while: "There is no need for an interview. If you listen to it at the same time, I can come and listen. Regarding your private equity fund, I need you to give me a piece of information."
"No problem." Fang Zhuo agreed.
After the call ended, he called again to confirm the exclusive interview with CCTV.
Fang Zhuo was a little unsure about Director Liu as to whether he was an outsider from Duan Yongji today, but looking at his attitude, he seemed to be relatively neutral.
The leader yesterday did not intervene at the meeting.
Fang Zhuo sat in the car with his eyes closed, contemplating how to seize the rare media channels at night.
At seven o'clock in the evening.
The CCTV reporter set up the camera, while Director Liu listened outside the camera. He had the MIGA Fund’s material report in his hand.
"Many media said that I was conducting a hostile takeover of Sina."
"If you even get the director's seat, how can you talk about being malicious or not?"
"I've been screwed to the point of being a director, so I deserve to be acquired."
Fang Zhuo opened the door with a lightning strike and dealt with the "hostile takeover" attack point directly from the source. If you can't defend it, you might as well vote.
The reporter was startled by such down-to-earth words and asked: "Mr. Fang, how did you get your board seat?"
"Either they are greedy for my money or my name. I can't force Duan Yongji to sign." Fang Zhuo said plausibly, "Not only as a major shareholder, but also as a small shareholder, I have
The right to know about the company’s major matters.”
"What lies before us now is whether the cooperation between Sina and Sunshine Culture has been effective. Why are we afraid to disclose such a simple situation?"
Fang Zhuo said loudly, grasping this point.
The reporter nodded, no problem, the right to know is protected by law.
He looked at the young CEO in front of him and asked, "Mr. Fang, what do you think of everyone's comments about this dispute?"
"For example?" Fang Zhuo asked.
"For example, Sina's success has nothing to do with you. You are now robbing the fruits of its success." The reporter excerpted a point of view.
“Is Sina profitable?”
“Is it called success if there is no profit?”
Fang Zhuo first asked two rhetorical questions and continued: "If this is what you call Sina's success, then I can only say that I can make Sina more successful."
"Also, regarding share acquisitions and the identity of major shareholders, these are business rules. If you don't understand them, learn them. This is the 21st century."
"The whole thing is very simple."
"Sina has grown so far that they still don't know how to make a profit. I'm here to teach them."
"I am Sina's major shareholder, why should I do things that harm Sina's interests?"
"As for those spiritual shareholders, please come to the shareholder meeting with proof of equity and stand up in front of me to speak, so that I can hear clearly what they are talking about."
"that's all."
Fang Zhuo also maintained an unprecedentedly tough attitude under CCTV cameras.
Sina's major shareholder has one-vote veto power and the right to know about major matters.
One-third of Sina users now have the surname Fang!
…
On the evening of June 23, Sina gave an exclusive live report on the second day of the extraordinary shareholders' meeting, strongly questioning and condemning Fang Zhuo's negative communication attitude.
In addition, the main writer Xu Changlun wrote vigorously and maintained his enthusiasm for criticizing Fang Zhuo.
——"How can President Yike, who has nothing to do with it, understand Sina's great success?"
