Reinventing the Millennium.

"Apple and Echo, two interesting companies."

"From music players to smartphones, from disrupting 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, many of them come from the same supplier. If the news is correct, the patent licenses they obtained when they entered the mobile phone industry are basically from Sony Ericsson mobile phones. The former is through Sony, and the latter Or through Ericsson, which is even more dramatic."

"I don't know if Sony Ericsson Mobile has anticipated one thing. Its two shareholders have chosen to 'help' the two companies to jointly build a strong challenge to the existing situation in the global mobile phone industry."

"And 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 will be released soon. After witnessing the more radical design of Yike Mars to win greater popularity in the market, it chose to follow up in time. Relying on the smoother system experience of iOS and supplementing the functions of the app store, this year's Performance is expected to improve further.”

"I witnessed the communication between Fang Zhuo and Jobs as if they were close friends..."

Liang Mu, who had been the driver for two days, stared at his notebook at night, and suddenly hesitated. Isn't the description "close friend" inappropriate?Although the communication between the two was much more peaceful than expected, it was not to this level.

Or, appreciate each other?
It doesn't seem to have that smell.

On the contrary, even if the peace was temporarily stopped this time, Liang Mu still felt a slight rejection between the two. After all, the companies they represented were still competitors in essence.

He thought about it for a while, but still couldn't find the best description, so he began to think about what Mr. Fang said.

Dishwashing?

What degree of dishwashing should we usher in?

Is it the impact of 3G smartphones on the mobile phone industry or the chain reaction brought about by the US financial market?

Liang Mu originally wanted to bid farewell to Mr. Fang this time, and write and publish his observations on Yike and the richest man in the mainland. However, the changes in the mobile phone industry and the turmoil in the financial market seem to be another period worth observing. .

After thinking hard for a while, he wrote down another word from Mr. Fang's mouth in his notebook.

Minsky moment.

……

1.2 Hong Kong dollars.

On February 2, the latest price of SMIC Hong Kong stocks.

With Tai Kee's victory in the Washington District Court, SMIC's stock price fluctuated and fell again.

Even, if it were not for the two-day market break, the stock price might fall below the full mark of 1 Hong Kong dollar.

All of a sudden, people were panicked, and there were rumors that SMIC was still facing more severe consequences.

Under such circumstances, on the one hand, SMIC has accelerated the negotiations with Datang Telecom, and on the other hand, it is also trying its best to appease the emotions of different internal shareholders, but there are great differences both externally and internally.

On February 2, SMIC held a meeting of the board of directors and some shareholders in Shanghai to discuss private placement again.

Zhang Rujing is in the United States, and the meeting was chaired by Chairman Wang Yangyuan.

Since the first entanglement with Taiji, Zhang Rujing handed over the position of chairman to Wang Yangyuan, an academician who is also the founder of SMIC, and today it is the independent non-executive director Jiang Shangzhou who assisted him or helped mediate.

SMIC's equity has been scattered since its establishment, and it is destined to receive different demands from different shareholders when dealing with major issues.

Especially this time, Datang Telecom wanted to obtain the additional shares issued by SMIC at a low price, which caused a widespread rebound from shareholders.

However, at this day's meeting, Jiang Shangzhou finally took out the hidden ice core news to warm up, aiming to brighten the atmosphere with good news amidst the bad news, so that everyone can see that China is working hard to solve the problem from multiple aspects. core.

At ten o'clock in the morning, four directors and three shareholder representatives had already arrived in SMIC's meeting room.

The people from Datang Telecom hadn't arrived yet, neither had Dr. Jiang, and the rumored Bingxin Fang Zhuo hadn't shown up either.

It was Chairman Wang Yangyuan who 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 of a symbolic meaning, and everyone was unwilling to trouble him. However, this time it was about the real value of the company. Inquire proactively.

"Academician Wang, Datang's matter cannot be forced. SMIC has been doing it for more than seven years, but it has been doing more and more. How can there be such a reason?" Li Guanhai, vice president of the foreign shareholder organization GGF Fund, first expressed dissatisfaction.

Just as Wang Yangyuan was about to speak, he saw Zhou Jie, the chairman of Shencheng Industrial, also nodded slightly, and couldn't help but suddenly found himself in trouble.

The communication during this period of time has been very poor. You must know that Shencheng Industrial is the current major shareholder of SMIC and has always supported the development of the company on behalf of the local government. Even Mr. Zhou is dissatisfied, which shows the complexity.

Wang Yangyuan didn't speak, which disappointed all the high-level officials who watched him.

Zhang Rujing and Mr. Zhang are not here, and Dr. Jiang Shangzhoujiang's health has just improved. Although Academician Wang is very good, he is obviously not good at handling business operations, and he is also old... How will SMIC continue to develop steadily?
At this moment, another independent director, Yang Xiongzhe, suddenly asked, "Excuse me, Academician Wang, will Mr. Fang attend the meeting today?"

After hearing this, everyone waited again 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.

Sighs sounded in the meeting room. It seems that today is another meeting to argue with Datang Telecom.

Independent Director Yang Xiongzhe is a professor at Columbia University. He came to attend the meeting because he believed that SMIC is in a very difficult situation. Especially, the current economic environment is not good, and it is very likely to bring about a vicious circle.

However, in addition to the factors of Taiwan Records, the specific extent of the difficulties should be known. Otherwise, how can we provide suggestions?
"How is the situation of SMIC this quarter? Will there be major losses?" Yang Xiongzhe asked about the performance in the first quarter of this year.

"Our performance at the beginning of this year is still good. In the past two months, we have added 11 local customers, and the main market in North America has also grown. Although it is indeed dragged down by the DRAM market, it will definitely improve in the future." Wang Yangyuan was a little rambling. The statement of the situation in January and February 08.

Yang Xiongzhe focused on more specific data and asked again: "Will it be a loss? How much will it be?"

Wang Yangyuan was stunned.

"Professor Yang, this season is not over yet. It's not time to release the financial report. If you want to know, you can read the financial report at that time." Chen Liwu, the chairman of Walden International, said a little dissatisfied.

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, supported Yang Xiongzhe in a tone-deaf way: "A loss is a loss, and the amount of loss is the amount of loss. What's wrong with that? Do you have to wait until the financial report is released? Which one of you here can't know? Core loss?"

Chen Liwu retorted: "Is it useful? You have to hear a number to be happy? This is a problem in the global DRAM market. Do you want to attribute it to SMIC?"

Li Guanhai said angrily: "Is there no mistake in the decision-making of DRAM? I can't say it yet?"

Before the people 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 here with the chief engineer, chief accountant, and deputy general manager. The first two were candidates for the directorship after Datang Telecom wanted to become a shareholder, and Liu Qingtao, the deputy general manager, handled the negotiation.

"Academician Wang, Mr. Chen, Mr. Zhou..." Liu Qingtao greeted them in a circle, but received a lukewarm response.

He didn't mind either, and just urged the meeting to get started.

"Wait, Secretary-General Jiang hasn't arrived yet." Wang Yangyuan is used to addressing Jiang Shangzhou like this, unlike others.

Liu Qingtao poured tea, and saw that the people in the conference room were almost here, so he took the initiative to start the topic: "SMIC's stock price has fallen again, I still think we should reach a cooperation as soon as possible, SMIC needs to get rid of the current situation as soon as possible, the two We negotiated a seat on the board of directors, and there should be no objection to this."

Zhang Rujing was not there, Jiang Shangzhou was not there, Wang Yangyuan seemed to be sluggish again, and no one in the meeting room refuted.

Board seats are not the main issue, the most important is the price of Datang Telecom.

"As for the price that everyone disagrees with, SMIC's stock price yesterday was 1.2 Hong Kong dollars." Liu Qingtao pondered, "After the opening of the Hong Kong stock market, it may fall below 1 Hong Kong dollar. 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 dissatisfiedly: "The current stock price is not a true reflection of SMIC's value. Also, Datang Telecom wants to issue additional shares at a price of 0.36 Hong Kong dollars, which is too low. You are letting us all The shares and value of the company have depreciated substantially!"

Major shareholders have spoken out everyone's aspirations.

Both the shares and the value are depreciating, which is unacceptable.

Liu Qingtao raised his voice and asked, "Excuse me, what will be the stock price of SMIC after it announces a huge loss? What will be the stock price of SMIC if it is sued again by Tai Kee? Is anyone willing to invest in SMIC now?"

Li Guanhai, vice president of GGF Fund, did not answer these questions, but raised his voice to make a statement: "Our GFF Fund will never accept the damage caused by SMIC's additional stock issuance to the legitimate rights and interests of shareholders!"

The IETF fund of another shareholder organization also echoed, expressing the position of minority shareholders: "The additional issuance of Datang Telecom is extremely unreasonable, and we do not accept it. If necessary, an extraordinary general meeting of shareholders can be held to allow everyone to decide on such an issue together. Whether the additional issuance is reasonable."

The current largest shareholder of SMIC, Shencheng Industrial, only holds 12% of the shares, and the second shareholder, Beida Jade Bird, only holds 7%. The equity of the entire company is quite scattered.

This is not the first time Liu Qingtao has contacted SMIC shareholders and directors. He said forcefully: "0.36 Hong Kong dollars is the current price. Once SMIC continues to fall, we will immediately re-evaluate the investment, and it will only be less!"

Such a tough attitude has not achieved much effect, but is even more dissatisfying.

The meeting room was full of arguments.

dong dong dong.

There was a knock on the door of the conference room.

Then Du Dong Jiang Shangzhou pushed the door open and entered.

He took two steps without closing the door, and waited for Fang Zhuo to come in before pushing it open again.

"What's the point of being polite." Fang Zhuo murmured in a low voice, nodded in response to the expressions of surprise or surprise in the conference room, and said, "There are quite a lot of people, and I am Fang Zhuo from Bingxin."

The clamor of different positions and different opinions has disappeared with Jiang Shangzhou's appearance. Seeing that the head of another wafer company in the mainland really appeared today, everyone has mixed emotions of different meanings in their hearts.

President Fang is here.

Mr. Fang really came.

"Academician Wang, sit, sit, you're welcome." Seeing that Academician Wang Yangyuan offered his seat to him, Fang Zhuo was both flattered and dumbfounded. This is not a high-level meeting of Bingxin, so how could he be the chairperson.

Simple pleasantries and greetings, Wang Yangyuan's position remained unchanged, Jiang Shangzhou sat next to the chairman, and Fang Zhuo sat next to Dr. Jiang.

There was an eerie silence in the conference room.

Datang Telecom's negotiation with SMIC this time is different from previous investors' styles, as if they are different.

However, Mr. Fang looked even more strange when he sat down.

Fang Zhuo drank two sips of tea, opened the file, felt the eyes of everyone looking at him, and pondered for a while. This trip is for business, so he should be more direct.

In essence, there are not many choices for SMIC now.

He started with a question: "Why do you look at me with this kind of perspective? I am not SMIC's savior. The only one who can save SMIC is SMIC itself."

These words brought the atmosphere in the conference room closer to the previous style.

Chairman Wang Yangyuan seems to have regained his energy, nodded and said: "Yes, only SMIC can save SMIC, and only everyone present here. Only by working together to solve the problem can SMIC move forward."

Li Guanhai, vice president of GGF Fund, continued the previous request: "To solve the problem, you must first know the problem. Can you know the two-month loss of SMIC?"

Jiang Shangzhou did not tact, but answered the question directly and simply: "In the past two months, SMIC's net loss was 0.79 million US dollars, and the situation is not optimistic."

Loss of $2 million in 0.79 months!
Even Liu Qingtao of Datang Telecom frowned deeply when he heard this number, and there was an uproar in the conference room for a while.

You must know that SMIC's annual loss in 2007 last year was only US$0.195 million, which was four times in the past two months!
"Why do you lose so much?!"

"Management must review!"

"The wind direction of the DRAM market should have been known long ago, and the decision to expand capacity is problematic!"

The three members of Datang Telecom were silent, while the directors and shareholders expressed their opinions in a hurry.

Jiang Shangzhou didn't stop the questioning that rushed to his face even after he said a few words.

"Okay, it's a loss!" Fang Zhuo is young, full of energy, and his voice is high, "The storage order of our ice core factory in Lin'an has been cut this year! The industry situation is here, why are you excited? "

He first lowered everyone's voices, and then gave an example: "It doesn't matter whoever is replaced. How about Qimonda? Europe's largest storage manufacturer. How about Samsung? A major manufacturer built by the strength of the whole country in South Korea. This is not Is it all a loss? This industry is like this."

"But this is too much!" Li Guanhai of GFF Fund couldn't help but said.

"The Beijing factory has to change the logic wafer. There is no other way. The labor pains have to be endured. If you can't even bear this, then what are you talking about?" Fang Zhuo said disapprovingly. Am I not in pain? What should I do if I am in pain? Can I go to Qimonda with a knife? The whole world is at a loss!"

Bingxin Lin'an Factory was used as an example twice, at least it made everyone feel more balanced.

Fang Zhuo continued: "I heard from Dr. Jiang that you have discussed many times and have various opinions. I was invited to come here today, and I will make a statement first. Ice Core and SMIC are in the same spirit and are willing to subscribe for 5 % of the shares."

An extremely clear statement, the relationship between 5% of the shares and the two companies!
When everyone heard this, the emotions in their hearts suddenly became clearer.

Ice Core is the only 65nm wafer company in the mainland that mass-produces, and Mr. Fang has a strong dominant position. This is stable and good news.

Fang Zhuo observed everyone's expressions, and continued: "By taking advantage of the 5% future shareholder status, Mr. Zhang is not here today. Dr. Jiang and Academician Wang and I have known each other for a long time. Let us simplify complicated problems. The first goal is to Just get things done, it's impossible to solve the problem just by procrastinating."

There was little resistance in the conference room.

In terms of business management, Academician Wang and Dr. Jiang are not as professional as the head of Yike, and his words are convincing.

"Isn't the biggest problem now just dissatisfied with Datang's share of the money? One side thinks it's enough, one side thinks it's not enough, what else is there?" Fang Zhuo asked.

At this time, Li Guanhai of GFF Fund complained: "1.72 million US dollars, 0.36 Hong Kong dollars, Mr. Fang, this is playing us like a monkey."

"Don't other investors even play monkeys?" Fang Zhuo asked.

Li Guanhai and the others changed their colors slightly. The co-author Mr. Fang came to help Datang today?
Zhou Jie of SMIC's major shareholder Shencheng Industrial said slowly: "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. It just so happens that you are here, Mr. Zhou. Let's go talk to Director Wang about this matter together when this is over." Fang Zhuo said succinctly, "It's not appropriate to procrastinate."

Zhou Jie suddenly stopped talking, Mr. Fang, you...you are so resolute!

Then I will reserve my opinion for the time being, and I will talk about it after I go to the director.

Fang Zhuo temporarily resolved the opinion of a large shareholder, and then emphasized again: "Maybe many of you have not realized how difficult the difficulties encountered by SMIC are. This meeting is very important, but even if it is so important, Mr. Zhang Rujing and Mr. Zhang did not When he came back to participate, he had to solve the problem outside, and I have to emphasize to you that SMIC’s problem cannot be delayed, and a framework will be presented today.”

He looked at the shareholders and directors on the opposite side, 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 you, you should believe it? In today's situation, everyone will have to kill me." Together."

Chen Liwu pondered for about ten seconds under Mr. Fang's gaze, and nodded slightly: "I believe in Mr. Fang's character. Do you think SMIC can get better with the money from Datang Telecom?"

Fang Zhuo said directly: "Not sure, but without this money, it will definitely not be good."

Chen Liwu was silent for a while, then said: "Okay, let's work together."

The chairman of Walden International was so easily persuaded, which surprised Jiang Shangzhou, Liu Qingtao and others—why does Mr. Chen believe in Mr. Fang's character?

Fang Zhuo was not interested in explaining more on this occasion.

Walden International has indeed dealt with it for a long time. When it bought Sina in good faith, Mao Daolin, the president, came from Walden, and Walden International invested in Sina very early.

When Sina changed its surname, Walden International wanted to sell its shares, but was discouraged by Fang Zhuo on the grounds that the stock price would definitely rise.

This reason also helped Wu Zheng of Xiangjiang Sunshine Culture leave the field at a high position.

Such a group of former shareholders of Sina are very grateful to Fang Zhuo, which can be regarded as a debt of gratitude.

Fang Zhuo dealt with two big households one after another, and the representatives of Beida Jade Bird didn't need to discuss. Academician Wang Yangyuan is the dean of Beida, so they will stand together.

He looked at Li Guanhai, a GFF fund that is very expressive, and another IETF fund with a similar nature, and frowned: "The U.S. stock market has fallen like a dog. If there is a way to try to stop the decline here, don't hate it."

"I can understand the anxiety of GFF and IETF. This kind of anxiety has also appeared in Goldman Sachs. I have a 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 taking money. Your attitude is counterproductive."

"I said something similar to Goldman Sachs, and we can talk about our experience in this regard at night."

Fang Zhuo was talking about the departure of Goldman Sachs and other investment institutions from SMIC.

Li Guanhai had heard about the general reputation of the other party, and the most important thing was that he personally watched this vigorous and resolute person who persuaded Zhou Jie and Chen Liwu with a very straightforward style.

He didn't immediately agree because of Goldman Sachs' reputation, but he took a step back and asked, "Mr. Fang, do you think Datang's price is really appropriate?"

Fang Zhuo said briskly, "It's not appropriate."

The three-word evaluation lifted the spirits of SMIC shareholders, and it is better to be with the mud than to be sidelined!

Liu Qingtao was sighing in his heart about the name of the tree, and suddenly he was dealt with by Mr. Fang, with a distorted expression on his face, and said slowly: "Mr. Fang, since you also said that SMIC was difficult just now, 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 style of doing things: "This price makes all the shareholders of SMIC dissatisfied. Datang Telecom is here to help SMIC, not to create new problems. SMIC needs to be stable. This is one of them."

"US$1.72 million is not enough for SMIC to complete the conversion and upgrade of the production line of the Beijing factory and the risk resistance in the near future. Datang Telecom is here to solve the problem. This is the second."

"It is everyone's expectation to solve the problem. I don't think Datang Telecom is following this expectation. This is the third."

"Fourth, I noticed that Datang Telecom requested two board seats from SMIC, which puzzled me? What does Datang want to do? Is it to seek control? Is it to interfere with SMIC's operations?"

Fang Zhuo closely linked Datang Telecom's presence here as an important off-court factor.

It comes to solve problems, it is asked to solve problems.

Liu Qingtao managed his expression well this time, shook his head and said, "Mr. Fang, of course we want to solve the problem. The price of 1.72 million US dollars has been fully measured, so there is no need to discuss it."

He bites 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, GFF shareholders 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 mentioned the price once, and this is the final offer."

He saw that Fang always managed to get this group of people together, and he felt that this time it was very hopeful to reach a cooperation under the current conditions.

Fang Zhuo frowned and remained silent.

Liu Qingtao was about to make a move: "Mr. Fang, you can measure again, and Datang Telecom can talk about it next time."

Fang Zhuo didn't look at Liu Qingtao, but glanced at Zhou Jie, Chen Liwu, Li Guanhai, Wang Yangyuan, Jiang Shangzhou and others he had just communicated with, and made eye contact with them, confirming that he could get a certain amount of dominance.

"There is no next time, Mr. Liu, you can go, but it is very difficult for Datang Telecom to come again. Even if Datang Telecom can still come, we will not talk to you, Liu Qingtao." Fang Zhuo said lightly, "SMIC Helpers who can help solve problems are welcome, not squeezers who need to be squeezed in."

Liu Qingtao looked at Fang Zhuo, looked at the eyes of other people, and lost the motivation to leave his seat: "Mr. Fang, this is not extortion, this is a reasonable price!"

"Mr. Liu, no one can understand what a reasonable price is better than me, the chairman of Bingxin. If Datang Telecom is not sincere, you can leave now." Fang Zhuo is very determined.

Feeling the strength of Mr. Fang's words, Liu Qingtao glanced hesitantly at the other two chief accountants and chief engineers who came with him. The head of the ice core really... really can have an off-site influence.

Especially in the field of semiconductors.

Gao Yonggang, the chief accountant of Datang Telecom, who had been silent all this time, smoothed things over: "Mr. Fang, this way, this matter cannot be decided by the three of us. If you say a number that you think is reasonable, we have to go back and ask the leader for instructions."

"2.2 million US dollars, 15%." Fang Zhuo took out the plan and handed over a decent evaluation document, "0.73% for the ice core of 5 million US dollars."

Liu Qingtao and Gao Yonggang realized that Mr. Fang was not just talking nonsense, and they looked at each other. This offer raised the price and lowered the shares. They felt that they really needed to discuss it carefully with the leader.

"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 sincerity from SMIC."

Feeling the strength of Mr. Fang's hand, Liu Qingtao took a light breath, and had a deep impression on the rumored one.