On March 25, this Friday, the three major North American stock indexes accelerated their dive in late trading, with an avalanche of losses across the board. Among them, the Dow Jones Index plummeted 9.2%, falling below 23,000 points. The largest intraday drop reached 2,000 points, setting a historical record.
In addition, the S&P 500 Index among the three major stock indexes closed down 8.72%, and the Nasdaq Index closed down 6.97%, falling below the 7,000-point mark. The three major stock indexes recorded their largest single-day declines since 2022, which was the last decline for U.S. stocks last year.
Another sharp fall after a sharp quarterly decline.
In the Asia-Pacific market that opened in the morning, the Japan Meridian opened at 225 and fell to 1.9% to 22,000 points. After a short period of trading, the decline expanded to 4.47%. The Tokyo Stock Exchange’s mothers index triggered the circuit breaker mechanism. South Korea’s kospi index fell sharply by 6% at the opening.
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If the data is confusing, be clear about it.
The value of the U.S. stock market evaporated by US$1.73 trillion that day, the largest decline in 15 years. Technology stocks collapsed across the board. With the entire market plummeting, even the stocks of Alibaba and Tencent were dragged down and plummeted. The top ten listed technologies in the world
No one in the company was spared, literally no one survived.
Intel's market value fell below the US$150 billion mark. Compared with its peak of US$370 billion in the first half of 2021, 60% of its market value evaporated. Nvidia's market value fell below US$100 billion after this round of disastrous declines.
It closed at $80.9 billion, setting a record decline from December 2018.
Yesterday the spring breeze was triumphant, but today it is miserable.
It must be mentioned that South Korea's two major semiconductor star giants are not immune to the disaster, namely SK Hynix and Samsung Group. Among them, Samsung Electronics is the worst. The arrival of the holographic screenless era is a big blow to Samsung Electronics.
It was a heavy blow, but what made Samsung feel a little better was that in the bidding for PHC memory, Samsung Memory won the favor of Ye Hua and became one of the overseas companies that is a major upstream supplier of PHC.
However, as Samsung actively cooperated with the SIA Semiconductor Industry Association of the United States to jointly block the coastline, all cooperation has been interrupted. Now Yangtze Memory, a member of the CSAC system, has banned Samsung's memory supply and has become an upstream supplier strategic partner.
…
Coral Island Technology, a subsidiary of Coastline Group.
After the company was split and reorganized, Cheng Yangze took the helm of the company. As hardware and electronic products, it was a business of Coral Island Technology.
At this time, the management is in a meeting.
Cheng Yangze looked at the managers present and said calmly: "Today's meeting will mainly discuss two issues, one is the sales of 2.0, and the other is the destocking of 1.0. As soon as the 2.0 press conference comes out, it is estimated that consumers who have recently purchased 1.0 will meet the return period.
If there is time, I will definitely choose to return it, and there are still about 1 million sets in stock."
After pondering for a moment, Cheng Yangze looked at the president of the retail department and asked: "Based on a 100% return rate, how many sets will be produced that meet the return requirements?"
"As of the first half month of the press conference, the total number of units eligible for return was 900,000." The retail president affirmed. For a moment, he couldn't help complaining: "Mr. Cheng, I really can't figure out the pricing of 2.0.
Not only is it 8,000 yuan cheaper than the previous generation, but its overall performance is three times higher than the previous generation. Shouldn’t it be priced at 8,000 yuan more? Besides, the sales volume of 2.0 will not be worse even if the price is increased. To be conservative, even if the sales volume is not as good as above.
generation but definitely not profit.”
He really couldn't figure out why Ye Hua wanted to sell 2.0 for 41,999 yuan. Isn't this just looking for trouble? In fact, he was not the only one who couldn't figure it out.
The general manager of the marketing department also said bitterly: "Not only will I make less money, but I will also cause a lot of troubles. Will consumers of the previous generation of products feel a huge gap? Just buy one.
Will I be asked to return the goods after two months? Will there be trouble if I don’t give them back?”
Obviously, the marketing department is worried about triggering a wave of returns of previous-generation products, thereby causing disputes.
Another executive immediately sneered: "The normal transaction has been concluded, how can you still regret it? Oh, you want to return the goods if you feel unbalanced? Our company operates reasonably and legally, and it is unreasonable to make trouble and act rogue to satisfy this kind of unreasonable situation."
It’s a legitimate claim, so why do we need the law? Then who will guarantee the interests of my company?”
The person in charge of the marketing department said helplessly: "What I mean is that some domestic consumers have weak legal awareness and feel that they have suffered a loss no matter how much. Human nature dictates that it is related to their own interests. These people don't care about anything.
To make a fuss is to act like a hooligan and a scoundrel, and this kind of potential problem cannot be ignored."
The person in charge of the public relations department also added: "Yes, if there are still people behind the scenes who take this opportunity to stir up public opinion, pour some oil, and gather a large group of people to make a fuss in offline stores when 2.0 is officially released, that will be
Affecting the normal sales of our products."
Indeed, due to human nature, this matter has to be taken seriously. After all, there is precedent. For example, in the property market, there were news reports that when the property market prices were reduced, a large group of people suddenly made trouble and demanded that developers not to reduce prices.
Daqing smiled when the price was raised, but when the developer decided to lower the price, he quit and directly formed a group to cause trouble.
In fact, most of the house buyers causing trouble are real estate speculators, and there are basically no households in immediate need. When house prices fall, real estate speculators will suffer losses. This is a matter of personal interests.
The principle is the same.
Upon hearing this, Cheng Yangze immediately said with solemnity: "This matter must be taken seriously. The public relations department and the legal department must be prepared to formulate detailed and effective response plans to ensure that this kind of thing will be resolved as quickly as possible after it occurs."
"Understood!" The leaders of the public relations department and the legal department nodded.
Cheng Yangze looked around at the executives. He could see that everyone was confused and disagreed with the 2.0 pricing, but he understood it. After all, on the surface, it seemed like he was making less money but still getting into trouble. Isn't this so idle that it hurts to look for trouble?
Just because 2.0 will be sold at a reduced price, it is simply unbelievable that the previous generation product has been discontinued even though it still has a lot of inventory.
Everyone at the meeting was speechless for a while. Cheng Yangze smiled and said: "The butt determines the head. Everyone, what you see is just a problem of a product, a problem of profit, a problem of the domestic market, and a problem of consumer disputes. But the director
He cannot look at it this way. His pattern is considered from a higher perspective, looking at the global rather than the domestic market, and looking outside the Coastline Group, rather than being limited to one product or one subsidiary."
"The chairman and I also discussed this issue at the beginning. Just focusing on the domestic market is not enough. Everyone can see the negative impact of pricing like 2.0. Can't the chairman see it?"
The senior executives present at the meeting were speechless. Yes, it is impossible for the chairman not to see it, so he must have his reasons for doing so.
Facing the doubtful looks from everyone, Cheng Yangze said with emotion: "It's not just an ordinary electronic product. Behind 2.0 is a challenge to North America's right to dominate the world's semiconductor industry. You also underestimate the chairman's leadership."
The energy contained in the CSAC system has been revealed. The coastline has been ruthlessly blocked. Behind 2.0 is a heavy blow we have dealt in a battle for high-tech dominance."
"The interests involved are huge, the impact is far-reaching, and the complexity of the problem is far beyond what we all imagined."
"Is the issue you are worried about the chairman of the board a matter of consideration for him?" Cheng Yangze looked at the president of the retail department and the person in charge of the legal department added: "In your retail department, marketing department, and legal department,
The public relations department is a big problem, but it is nothing compared to the issues weighed by the chairman. So you are sitting in this position, with an annual salary of millions and high benefits, and you can't even solve this problem. Why should you get it?
This treatment?”
The executives who just complained are quite embarrassed. Cheng Yangze is not only the head of Coral Island Technology, but also one of the nine directors of Coastline Group. Although everyone teases him in private for selling underwear, they are teasing him in good faith. Old Cheng also
He has no choice but to accept this dark history calmly, but his prestige is needless to say. He has achieved this position through his actual ability and performance, and everyone is convinced.
Several managers who complained promised to solve the problem and take responsibility for the problems that could not be solved. Cheng Yangze is a CEO with strong execution ability. He was very satisfied with the decisiveness of his subordinates and continued: "Another problem is the nearly 2 million units.
Let’s talk about the solution to destocking the previous generation products. We don’t ask for how much money we make, but we just want to recover the capital from this backlog of inventory.”
Even though the inventory is only about 2 million sets, this batch of goods is worth 100 billion. The total profit from PHC hardware sales alone is only 100 billion.
If this batch of goods cannot be processed, it will directly offset the total profit of the nearly 28 million sets of PHC sold. In other words, it is all for nothing, and even offline retail stores will lose more than 2 billion US dollars after taking into account the production.
The sales manager smiled and said: "This is simple, let the foreign black market eat it. Let alone 2 million sets, I think you can digest 5 million sets."
"black market?"
Everyone looked at him in surprise. When did PHC flow into the black market? And can you eat so much?
After being surprised, everyone looked at the sales manager with questioning eyes, obviously suspicious of his remarks. The latter said calmly: "You may not know, but I have been paying attention to the latest trends in PHC black market transactions around the world.
, since overseas business entered the 'dormant period', PHC has appeared on a large scale in foreign black markets, and the price has skyrocketed. Guess how high the price of PHC in the black market has been in Europe and the United States?"
