1991 Starting from the core

John Mack's question is one that all the big guys on Wall Street who are concerned about technology companies want to ask.

To be fair, Su Yuanshan said that they didn't understand high technology... That was indeed a bit dismissive. Traditional Wall Street elites just have difficulty understanding things that are invisible and intangible - for example, Mr. Buffett has said more than once that he is completely unable to understand what is going on with Microsoft, so that he has missed it again and again.

But semiconductors, an industry that has been around for decades, produce products that are both visible and tangible.

Not only do they understand, but they understand it very well.

Because Yuanxin is a purely privatized company, it does not publish financial reports, but this does not prevent it from extracting details from the financial reports of its affiliated companies and business-related companies that it controls and holds shares.

Not to mention that the mainland government also publishes industrial information - although it is general, there are always some clues.

According to estimates, Yuanxin is now fully involved in X86 desktop processors, ASIC processors, YX architecture processors, desktop and mobile systems, server technology, 91 series microcontrollers, flash memory, LCD panels, lithium batteries, semiconductor manufacturing, and mobile digital product manufacturing. , semiconductor machinery manufacturing and countless other fields.

Such a huge group, what a great story it is for investors? !

Unfortunately, as of now, such a great story seems to have no intention of involving Wall Street.

That's why John Michael asked.

Su Yuanshan lowered his eyes and was silent for a few seconds.

He knows that Wall Street has always been full of expectations for Yuanxin, or coveted it. Just a few months ago, when the news was released that Newbook would reduce its holdings, countless emails from investment banks flooded into the mailboxes of Yuanxin's senior executives.

As long as Yuanxin is willing to speak, they will not hesitate.

After thinking, Su Yuanshan slowly shook his head.

He did not intend to deceive John Mack on this issue - Morgan Stanley was a top investment bank that had long been bullish on mainland China for a long time, and John Mack was one of the decision-makers who pushed for the establishment of CICC. In addition, his relationship with Pei Xiliang Contradictions and the relationship with Qin Si... are natural candidates for cooperation.

"If Yuanxin wants to be listed, it can only be listed by spinning off its departments. Yuanxin's current equity is very complicated - I can tell you frankly, including the shares entrusted to me by the two founders, my father and my uncle, I The shares held no longer exceed 25%.”

"How..." John Mike was surprised!

Yuanxin has never raised funds, and according to the news, since Su Yuanshan came of age, his father completely transferred the shares to his son.

"So, if Yuanxin is going to be listed, it will involve a lot of profit distribution and break the existing system and pattern of Yuanxin." After a pause, Su Yuanshan laughed: "Besides, with such a huge business as Yuanxin, IPO ... I’m afraid even pricing will be troublesome, so I won’t consider listing the group for the time being.”

John Michael smiled when he heard this, and then nodded.

Although he doesn't quite agree with the trouble of pricing - in the eyes of professional investment banks, how can making money be troublesome? But the distribution of shareholders' interests is indeed a big trouble. From a business perspective, if the interests are not distributed well, the company will fall into a management crisis at best, or fall apart at worst, with the gains outweighing the losses.

"However, we do not rule out spinning off certain business units and listing them independently - by then, we hope to establish a more stable cooperative relationship with Morgan."

Listening to Su Yuanshan's empty promise, John Mike finally felt a little more at ease.

Obviously, he could feel the vague approach from Su Yuanshan's attitude.

Next, we mainly talked about Deyuan’s next expansion ideas, as well as possible problems that may be encountered, how to deal with them, etc.

These questions have naturally been prepared for a long time and have even been unified. When John Mike asked Su Yuanshan, he obviously meant to help the relevant departments find out.

But since neither of them were directly responsible, they just treated it as casual chat.

But it can be seen that John Michael has enough confidence in Deyuan.

What is the most important thing about a fab? It's technology and market position. Now that the 0.25 micron process technology has been broken through, Deyuan has become the only owner of the 0.25 micron advanced process at this time. It is conceivable that Zhang Rujin will have to take a large number of orders back after this trip. ——After all, Deyuan is a professional foundry.

Then the three of them talked about Hongyuan, which was also listed on the Shanghai Stock Exchange and HK. However, John Mack was a little less optimistic about Hongyuan.

After all, as a foundry, although Hongyuan has status, at present, whether it is professionalism or technical content... a labor-intensive enterprise obviously has no future.

Of course, it doesn’t mean that the listing failed.

Two hours later, Su Yuanshan checked the time and stood up to leave.

John Mack stood up and prepared to see off his guests.

But when he was about to reach the door, Su Yuanshan suddenly stopped, turned around and remained silent for a few seconds, then whispered softly: "Mr. Mike, if I were you, I would do my best to stop Morgan from continuing to operate in the north and HK."

John Michael was suddenly startled, and his eyes suddenly became sharp.

"Can you tell me the reason?"

Su Yuanshan did not answer, but Qin Si pursed his lips and smiled: "John, I'll treat you to tea tomorrow."

…

In the next few days, Su Yuanshan visited several famous investment banks one after another, and finally became familiar with Wall Street. At the same time, he also took Gates together for an exclusive interview to talk about Microsoft and Yuanxin's plans and understanding of the Internet and mobile Internet.

As far as feedback is concerned... I have to say that at a time when Wall Street is gradually moving away from reality and toward virtuality, their influence is very powerful.

On the day the interview was broadcast, all Nasdaq Internet stocks were booming.

At the end of July, he finally finished his trip to New York and arrived in Silicon Valley.

…

"Sister-in-law... Hey, hey, hey! Stop, I'm coming."

In front of the gate of the villa, Yang Yiwen was seen standing at the door wearing maternity clothes with a big belly. She was about to go down the steps when she saw him. He hurriedly shouted and trotted over. Then he lifted Yang Yiwen's elbow, just like a little eunuch serving the queen.

"Tsk, tsk, where did you learn this Kung Fu?" Yang Yiwen paced, returned to the sofa and sat down, looking at Su Yuanshan and saying with a smile.

"Hey, it's on TV." Su Yuanshan looked at the vaguely familiar scene around him, couldn't help but stretch, and sighed: "I didn't expect... This little family is finally going to have a baby. By the way, it's a boy. A baby or a girl?"

"son."

"Hello, son!" Su Yuanshan chuckled: "You all have sons, and then I will give birth to a daughter - when she goes out, she will have a big brother who can strengthen the platoon. Let's see who dares to mess with her!"

Yang Yiwen couldn't help laughing and spat at him: "Bah! I have the same virtue as your senior brother - but if you want to have a baby, you have to get married first. Are you 24 this year? How long do you have to wait?"

"Wait a minute, wait a minute, we are all busy." Su Yuanshan looked back at his room. He and Ye Rudai had made an appointment to meet here today. However, Ye Rudai was on a business trip temporarily and would have to rush back. It's tomorrow.

"Is there anything more important than a lifelong event?" Yang Yiwen rolled her eyes at him.

She had forgotten that she and Tang Wenjie fought for more than ten years before finally getting married and having children.

At this time, Wen Xiaoqian, who just said hello after entering, sat aside and started handling official business on her Yuanxin mobile phone, suddenly raised her head: "Mr. Shan, I just received an email from Steve Jobs, asking you to meet."

"...This guy has a very sharp nose, right?" Su Yuanshan joked, but immediately took a look at the time.

"Just tonight."