I'm in the county town, and you say I'm a big shot?

Chapter 820 Lightning-Fast Acquisition

A few days later, in a meeting room at Topway Technology's headquarters overlooking the city skyline, a negotiation concerning the future of space exploration quietly began.

Bai Ou sat in the main seat, dressed in a well-tailored light gray business suit. Behind her were Li Li, the vice CEO and chief financial officer of Tuofang Technology, Zhang Minghai, the chief legal officer, and other negotiators.

Her opponent, Mr. Liu, the vice president of Zhuhai Orbita, also led a highly capable team. They exchanged pleasantries with smiles, but both knew that the real battle was about to begin.

Mr. Liu broke the surface harmony and went straight to the point, reiterating Orbita's strategic determination to divest non-core assets and focus all its efforts on the core business of remote sensing satellites.

“Mr. Bai, to be honest,” Mr. Liu said sincerely but with a hint of helplessness, “OK Micro’s exploration in the field of communication satellites has indeed deviated from our core strategy. In addition, given its clear loss data in the first half of the year, the board of directors’ decision to sell the company was also based on considerations of the overall interests of the listed company and the responsibility to investors.”

Bai Ou listened patiently with a smile, nodding slightly from time to time. After the other party finished speaking, she did not respond immediately, but calmly pushed a beautifully bound document in front of her to the center of the table.

"Mr. Liu, we have thoroughly studied your company's strategic announcement and OKMicro's detailed financial report, and we fully understand your company's situation and decisions." Her tone was calm, as if stating a given fact.
"That is why we have some different views on the core of this transaction—the valuation basis of this 35.67% stake—based on market principles."

She paused slightly, her gaze sweeping steadily over each member of the group before finally settling on President Liu, before continuing, "The announcement states that the equity is listed at 3800 million yuan. We believe this price is more of a static assessment based on historical investment costs, but it fails to fully reflect the significant risks faced by OKMicro as an aerospace startup that is not yet profitable and will require substantial investment for the next few years."

"Oh?" Mr. Liu leaned back slightly in his chair, his hands clasped together, showing an expression of eager interest. "What specific risks is Mr. Bai referring to?"

“The first is the clear operational risk,” Bai Ou said calmly. “The continuous loss data proves that its current business model has not yet been successful and its cash flow cannot be self-sustaining.”

"Secondly, there is the more critical strategic risk. OKMicro's shift to the already fiercely competitive communications satellite track means that it needs to face the strong strength of the 'national team' and the impact of many emerging commercial aerospace companies, and its prospects are highly uncertain."

She leaned forward slightly, her gentle gaze revealing a sharp edge. "If our Tuofang Technology were to take over, we would need to immediately invest real money to inject capital into it and bear the burden of a long nurturing period. This potential, enormous, and ongoing cost should be realistically reflected in the consideration for this transaction."

"Therefore, based on the above risk assessment and referring to the current market valuation model for similar aerospace startups, we formally propose a revised offer: RMB 3200 million to acquire all 35.67% equity held by Orbita."

A brief silence fell over the meeting room. Mr. Liu's brow furrowed instantly; clearly, this offer was far below their bottom line. His team members exchanged uneasy glances, and the atmosphere suddenly became tense.

“President Bai,” President Liu took a deep breath, his tone tinged with difficulty, “this price…excuse me for being frank, but it’s really hard for us to explain to the board of directors and the majority of investors. Even considering the risks, a discount of nearly 16% is far beyond what is normal.”

Bai Ou seemed to have anticipated this. Her expression remained unchanged as she calmly placed the pen in her hand gently on the table, making a soft tapping sound that broke the silence.

“Mr. Liu, I completely understand your position. Precisely because we all need to be responsible to our respective shareholders, we need to make a pure and rational calculation of interests, rather than getting entangled in emotions or past investments.”

She looked directly at him and presented her first substantial condition for the exchange: "Let's face the core issue: OKMicro's losses are a given fact; on your company's financial statements, it's already a 'negative asset' that urgently needs to be disposed of. Holding it for another day means expending more management effort and incurring more potential impairment risk. The price we're offering is based on the fairest assessment of the current situation. But to show our sincerity—"

She paused deliberately and emphasized, "We can significantly shorten the payment period. The full amount will be paid within three business days of the formal signing of the agreement." "Pay in three days?" Mr. Liu repeated instinctively; this condition was clearly unexpected.

He knew that for a listed company that intended to quickly recover funds and optimize its financial statements, the value of "certainty" and "speed" was sometimes even more important than the price itself.

“That’s right, three days.” Bai Ou picked up the teacup in front of her, took a sip, and smiled. “President Liu, once the contract is signed, we will definitely fulfill our commitment. To be honest, 3200 million in cash is a very simple matter for Tuofang Technology.”

Seeing the weighing look in Mr. Liu's eyes, Bai Ou pressed her advantage, maintaining her calm tone: "Furthermore, according to the information we have, currently, apart from our Tuofang Technology, there doesn't seem to be any other transferee with equal strength and clear willingness who has expressed strong interest in OKMicro. Business negotiations are most prone to delays. If this transaction fails due to price issues, your company will not only incur time costs, but it may also trigger further market doubts about the asset's value and even your company's decision-making capabilities."

These words, like a scalpel, dissected the other party's deepest concerns—the risk of the auction failing and the erosion of market confidence.

Mr. Liu was silent for a moment, exchanged a few words with the financial advisor beside him in a low voice, and then looked up, his tone noticeably more relaxed: "Mr. Bai, I have indeed felt your efficiency and sincerity. However, the base of 3200 million is indeed too low. I think 3600 million is a more balanced point that is in the best interests of both parties."

The tug-of-war of bargaining officially began. Both sides argued their points, cited data, analyzed prospects, and frankly acknowledged the risks surrounding each percentage point of price fluctuation.

After nearly two hours of intense negotiations, both parties reached an agreement on a price of 3450 million yuan. Topway Technology successfully acquired 35.67% of OKMicro's shares at a price nearly 10% lower than the listed price, becoming its largest shareholder.

After the contract was signed, Bai Ou immediately called Fang Qingye, who was still in Nanxin, to tell her the news.

"Congratulations, Mr. Bai!" Fang Qingye joked over the phone.

"Congratulations, President Fang!" Bai Ou replied playfully, then resumed her professional tone. "According to the latest information provided by Orbita, after several rounds of equity changes since its establishment, Wang Yang's team currently holds 30.64% of the company's shares, making them the second-largest shareholder. The remaining approximately 34% of the shares are held by Shencheng Gesi Information Technology Co., Ltd. and Shencheng Canlin Asset Management Center. My next step is to send people to contact these two companies and strive to acquire them all to achieve absolute control!"

"Thank you for your hard work, honey. Here's what I'll do: I'll go directly to OKMicro Company in Shanghai tomorrow. It's time to meet the legendary Dr. Wang Yang and his team."

“Okay, I’ll arrange for someone to contact them immediately and schedule a time,” Bai Ou replied crisply.

Soon after, the transaction of Topway Technology's acquisition of Orbita's 35.67% stake in Orbita Microelectronics was announced on the Shenzhen Stock Exchange's block trading platform and Orbita's official website in accordance with regulations.

This transaction, worth tens of millions, did not cause much of a ripple in a market where billions or even tens of billions of dollars flow daily. Like a small stone thrown into a vast lake, it was quickly submerged by more and larger amounts of transaction information.

However, Ma Yun, who was far away in Guizhou, keenly noticed this transaction.

Jin'an, Guizhou Province.

(End of this chapter)