Reborn Entrepreneurial Giant.

Chapter 414 Glory Shareholders Meeting

Before Honor was listed, Youku was the first to go public, with a market capitalization of US$25 billion, which rose to US$50 billion at the opening. The copyright war leading the country gave Wall Street ample room for imagination, and its valuation was US$13 billion more than the US$12 billion in the same period in history. Dollar.

In this IPO, Vision Investment reduced its shareholding to less than 15%, making it the second largest shareholder after the founder team. It recovered the investment cost, and the remaining approximately 15% was a net profit.

Gu Yong invited Qu Li to dinner and a celebration banquet when he returned from the United States, but he was still busy reducing costs at the Xingsha factory, from processing equipment to technology, as well as the transformation of supply chain enterprises. This was a big project.

From Jumei to Honor, and then to Qiancheng Motor, Qu Li has always paid attention to supply chain management and focused on process-based modernization of the enterprise. At least he has great experience in preventing corruption. There are fewer internal bugs and more people doing practical things. Even if it is a group of second-rate talents, as long as it moves in the right direction, Qiancheng Motor will continue to make progress.

The progress of the domestic automobile industry is overall upward. Qiancheng Automobile is located in inland provinces, so progress is understandably slow. Quli hired many people from the coast, especially GAC Toyota, and built a production and manufacturing team with them as the backbone. Better than before in every aspect.Some problems are also caused by different corporate cultures. Qu Li is not a strong player in Jumei Honor, but he is the undisputed leader in Qiancheng Automobile.

Fortunately, Qu Li pays attention to methodology and follows logic in doing things. He is not afraid of losing face, making a fool of himself, or making mistakes. Anyway, no one can drive him away. No one can be disobedient. Are you afraid of a bird?Qu Li's attitude determines whether the senior management team dares to tell the truth. Since Qu Li is not afraid of embarrassment, never retaliates, and can really help senior executives solve their difficulties, then he can tell the truth.The overall atmosphere of Qiancheng Auto is considered very good at this stage.

During the Spring Festival, Qiancheng Automobile's sales declined and the factory was shut down. Now it is gradually returning to normal. Monthly sales of Qiancheng CS6 may exceed 5000 units.With sales volume, it is natural to negotiate prices with suppliers, including Cheetah Feiteng, which Qu Li focuses on. Cheetah Motors' factory in Hengyang was renovated very quickly, mainly due to the extensive use of various mature processes, universal spare parts, and the "Wuling Hongguang" car. Assembly is not difficult and it will be available for sale in the first half of this year.

The sales channels of Qiancheng and Cheetah have a lot of overlap, but Xia Mingfei asked me to ask Qiancheng Motors to expand its channels to 500 this year. Cheetah Motors is operated by Changfeng Group, and 300 is the base number. It depends on how much it can achieve. They are blessed with such a cheap and easy-to-sell car like the "Wuling Hongguang". It would be very disappointing if it cannot be fully utilized.

I originally wanted to go back to Beijin, but due to the matter with Cheetah, I had to fight with Changfeng Group for a long time. Changfeng took back almost all brands including Cheetah and Black King Kong, while Qiancheng Motor kept the newly applied "King Kong" brand.

Some people commented on Weibo and Zhihu that Honor paid billions to buy a shell and made a loss-making business. Qu Li was too young and unfamiliar with the domestic situation. He thought everything followed the same rules of market economy as foreign countries... …

A group of people began to feel sorry for Qu Li, a rich man, which made him a little confused. As one of the centers of Internet traffic, some financial experts analyzed Qiancheng Motor's financial report, and then concluded: "This is rubbish", okay , the original words are not like this, but the meaning is similar.

Qu Li criticized a certain A-share supervisory committee, which finally caused a backlash. He was very unscrupulous in his work. A supervisory committee repeatedly gave the green light to Honor’s acquisition of Qiancheng Motors (the acquisition of more than 30% of the listed shares triggers a general tender offer, unless a supervisory committee exemption), which gave me great convenience. Now that I have turned my back on you, you still have the nerve to criticize me. It’s so shameless.

This time, when he saw someone analyzing Qiancheng Motor's financial report in a clear and logical manner, Qu Li finally did not refute it. He took out the report and shared it with everyone, and once again discussed the various problems and improvement measures of Qiancheng Motor.

Lei Jun urged him several times in Beijin, but finally left Xingsha City, and replied on Weibo to the person who had come forward for a certain supervisory committee: "I read this securities analyst's article and it was very well written. We We discussed it several times in the company and found that there are indeed some problems..."

"Some problems can be corrected immediately, and some problems cannot be corrected temporarily. It's not that we can't do it, but that entrepreneurs have different ideas from securities analysts and can sacrifice short-term interests for long-term interests. The main reason is of course not these. Qiancheng Automobile has a huge advantage that other companies do not have. I can adhere to long-termism and do difficult and correct things. To put it simply, I am not short of money and I am not in a hurry to make money. As long as I am not in a hurry, Qiancheng will have fewer opportunities to make mistakes. …”

Qu Li's Weibo post of praising critics quickly became a hot search topic. He felt that he was ready to become "Musk". What's interesting about financial news is that he might as well read celebrity gossip, which is not the case for this generation of netizens.

"Qu Li humbly accepted criticism, but he refused to change it!" Someone summed up Qu Li's speech on Weibo incisively.

"Unrepentant Qu Tianming" someone gave him such a nickname. I feel it is far less interesting than the repentant Ari Jack horse, an ordinary family pony.

Returning to the Beijin Honor headquarters, everyone welcomed the return of "Unrepentant Qu Tianming", and the pre-IPO shareholder meeting of Honor officially began.

Of course, the composition of the board of directors is mainly composed of the founders and management team of Honor. Qu Li, Li Yinan, Lei Jun, Chen Jingqiu, as well as Pawo who is responsible for the supply chain, and Da Duo from the marketing department. There are external directors and independent directors. No matter what the name is, they are all passers-by anyway.

Basically, 7% are Chinese and 11% are from Waiguoren. Well, there are 4 people on the board of directors, 5 from Waiguo, three from Bairen and one from Japan, 2 from China, [-] from Singapore and Hong Kong Chinese. Such a combination is possible. Acceptable, after all, two of the white men are still glory management.

This is the first board meeting before the listing to determine some details of the listing. Lei Jun also needs to explain some of the company's current affairs, such as patent settlement with Apple, cooperation with Microsoft, including patent licensing fees, etc.

As for innovative businesses such as automobiles and drones, they can actually be classified as "others". After all, this part of the revenue is too small and wrong. Honor holds about 55% of the shares in Qiancheng Automobile. According to legal regulations, the statements can be consolidated, that is, Increase revenue by about a billion dollars.

"Why do we want to reconcile with Apple?" Some directors were puzzled. Looking at it with the eyes of people who have experienced it, they naturally know that banning the sale of Apple iPhones is unrealistic. However, people who believe in market competition and the legal authority of the United States will definitely not see it this way, even in the end. The lawsuit failed and there was no loss of glory. The settlement now seems like a sign of weakness.

Qu Li said nothing. He needed time to observe. Even if he became a director of Glory, he would not necessarily consider Glory from the overall interests. Just like the lawyer hired by Zhongxing actually betrayed them. It can only be said that some people in the country are idealistic. Doctrine itself mythologizes "fiduciary responsibility".

Qu Li now even doubts his own people, let alone completely trusting outsiders.But Dances with Wolves was his basic strategy. Inviting Wai Guoren in to share the benefits of Glory made the relationship more entangled and difficult to let go of as time went on.In peacetime, who dares to blow up himself and his enemy?