A genius? I just love studying.

Chapter 221 Suddenly Financial Freedom

Although it was their first meeting, Chen Hui recognized him; his signature leather jacket was too conspicuous.

He never imagined that he would have any interaction with this person again one day.

"Master Huang, there has to be a first-come, first-served order, right?"

Before Chen Hui could reply, Ren Woxing spoke up.

Huang Renxun turned to look at Ren Woxing, refusing to budge an inch, "In business, the highest bidder wins!"

After saying that, he looked at Chen Hui again, "Professor Chen, believe me, my offer will definitely be higher than Youwei's!"

"Whatever your conditions are, we can discuss them."

Chen Hui could sense Huang Renxun's sincerity, but, "Let Mr. Ren go first, I'd like to talk to Mr. Ren first."

Putting aside the tradition of first-come, first-served, Chen Hui would give priority to the supercomputer provided by Ren Woxing, no matter what.

"Ok."

Huang Renxun shrugged and gracefully stepped aside to make way.

Chen Hui rode his electric scooter and followed the Wenjie team to Yingding. He stopped near the administration building of the School of Mathematics and then walked into the meeting room that Wang Qiming had prepared in advance.

Half an hour ago, they might have found it amusing to see a top scholar like Chen Hui riding a small electric scooter, but now, the group from Youwei Group looked solemn and were a little apprehensive.

Their main competitor is Nvidia, and no matter how confident they are, they are not certain that they can win.

On the contrary, Ren Woxing looked relaxed, which impressed the group of people.

Chen Hui parked his electric scooter and walked towards the conference room.

Ren Woxing and the others did invite Chen Hui to ride in their car, but it wasn't convenient to park the electric scooter downstairs at the Fifth Teaching Building, so Chen Hui rode it back instead. It has to be said that the advantages of shared electric scooters were clearly demonstrated at this moment.

Unfortunately, the shared electric scooters at Jiangcheng University, which have steep inclines and declines, have somewhat limited power.

Only Chen Hui and Ren Woxing were in the meeting room; the others were waiting in the adjacent lounge.

“I have two options for the patent licensing fee. One is to buy out the license within China for 2 million Chinese yuan, to be paid in three installments within one year.”

Upon entering the conference room, Ren Woxing stated bluntly, "The second option is a licensing fee of 5 million, with a dividend of 0.3 yuan for each wafer produced."

Two hundred million?

Even though Chen Hui was a man of great experience, he was still slightly shocked when he heard this number.

He suddenly understood why some people said that money was just a number to him.

If it were a year or so ago, he would probably have been stunned by this number, but now, he is different. "I choose the first option."

Chen Hui said calmly.

The second option yields significantly higher returns, but his energy is primarily focused on academic research, leaving him little time for such other pursuits. Diverting his attention to making money would be putting the cart before the horse.

As for the patent licensing fee, Chen Hui hadn't researched it and didn't really know, but Elder E gave him a figure, and Elder Ren's quote was obviously higher than that.

Furthermore, having more Chinese Yuan, measured in hundreds of millions, wouldn't mean much to him.

"You don't need to rush into making a decision."

Ren Woxing waved his hand, "You may think money is not important, but with money, you won't need to borrow my supercomputing center at all; you can handle it yourself."

"Your research may not need money now, but what about the future?"

"With enough money, you can dedicate your time and energy to scientific research."

"Your time is very valuable!"

Chen Hui smiled and shook his head, "Of course I know all of that, but I trust Elder Ren."

"Why does Elder Ren only require authorization within China?"

"How about Mr. Ren buys out all the licenses?"

Chen Hui really didn't want to deal with all this messy stuff; he just wanted to collect a cash payment.

Ren Woxing smiled happily.

Over the years, he has made many investments, including some large-scale investments of billions or even tens of billions of yuan. Some of these investments resulted in losses, while others resulted in profits.

But he never expected that lending the supercomputing center to Chen Hui would be the most profitable investment of his life, and that this investment would yield increasingly rich returns.

Indeed, the famous saying in the investment world is true: investing is not about investing in projects, but about investing in people!

But he shook his head. “Youwei’s identity is sensitive. If I get full authorization, it will definitely make some people feel threatened. Even if we can make a lot of profit in this area, they will make us give it back from other sources.”

"So, it's better to give this opportunity to someone else."

Ren Woxing glanced outside the conference room and said, "For example, that Master Huang."

Chen Hui suddenly realized that, indeed, everyone has their own area of ​​expertise.

"I'll have the legal department draft the contract. You can talk to that person first."

Ren Woxing stood up, hesitated for a moment, then stopped and turned to Chen Hui, saying, "Your idea is right. Let him buy out or grant a license, and let Nvidia handle the rest."

"You can decide on the buyout price of $2-5 million yourself. Nvidia's licensing plus agency licensing will also be within this range."

Perhaps worried that Chen Hui would suffer a loss, Ren Woxing gave him a special instruction before leaving the conference room.

A few minutes later, Huang Renxun, dressed in a leather jacket, walked into the conference room and said, "No matter how much Youwei Group contributes, Nvidia will contribute twice as much!"

Huang Renxun's first words upon entering the room were full of domineering power.

"So, how much is Mr. Huang prepared to contribute?"

Chen Hui smiled and looked at Huang Renxun.

Huang Renxun remained outwardly calm, but inwardly he had become wary.

What he said just now might seem like he was foolish and rich, but in reality, it was to extract information about the negotiations Chen Hui and his team had just had. Even knowing just a little bit would give him more confidence in his subsequent negotiations.

Unfortunately, Chen Hui didn't reveal a single detail.

He knew that this mathematical genius was not a bookworm and was not so easy to deal with.

"Two options: $5 million, buyout."

Since there's no way to fool them, let's pave the way with real money. "The second option is a licensing fee of $200 million plus a share of $2 per ton of wafers."

It's clear that Huang Renxun's offer was quite sincere, but his appetite was a bit too big. Chen Hui shook his head, "Authorization in China won't do. Authorization and independent agency rights in all other regions outside of China, $300 million in licensing fees. You can act as an agent for other companies, I'll take 70% of the agency licensing fees, and you'll take 30%."

Huang Renxun instantly understood that Chen Hui and Ren Woxing had reached an agreement.

A licensing fee of $3 million is definitely not low, but there is not much difference between an independent agency right and a buyout. Although Chen Hui will share the profits, the independent agency right is more important than money, and its significance is close to that of a buyout.

Having independent agency rights gives us a lot of room to maneuver. For example, we can refuse to license AMD, or even if we do, there are many restrictions. Other companies, even those without a competitive relationship, would have to offer us enough benefits to obtain the license. These things cannot be measured in money.

As for the authorization from China, Huang Renxun understood that he probably wouldn't be able to obtain it, which made him somewhat regretful. He had a premonition that in the near future, China's companies would become his biggest rivals.

"Okay, I agree!"

After a brief hesitation, Huang Renxun extended his right hand.

A deal worth hundreds of millions of dollars was struck in just a few words.

"Happy cooperation!"

Chen Hui also stood up and shook hands with Huang Renxun.

Next came the signing of contracts, which Chen Hui wasn't particularly interested in. Professor Xiao Meng led a temporary team of several teachers from the Jiangcheng University Law School to handle it.

Chen Hui had already arrived at the laboratory and discussed the inspiration he had gained in class with Academician E Weinan. Finally, they formed a usable prediction model and added it to the previous system.

"So, in the previous process, there was no detailed modeling of the interface and boundaries?"

Deng Jun, the chief engineer of Youwei Group, who came to the laboratory with Chen Hui, was dumbfounded. He originally thought that Chen Hui was bringing his experience in the laboratory to the classroom, but he did not expect that it was just the result of Chen Hui's epiphany in the classroom!
A single class can solve a problem that has plagued industry for decades, this...

Chen Hui nodded to Deng Jun, then looked at Chloe, the brown-haired girl beside him, and asked, "Did you understand what I just said?"

"I can understand most of it."

Chloe answered somewhat sheepishly.

"Okay, then you'll be writing this paper. You'll stay in the lab for the next few days and work with Professor E to integrate this model into the overall system."

This discovery can not only be used in the production of gallium oxide, but also solve many problems in materials science research. It has great potential for widespread application. Writing a paper based on this discovery would be more than enough to publish in top journals in materials science or mathematics.

However, Chen Hui did not intend to write this paper himself. He no longer needed this top-journal paper to enhance his reputation. He would rather spend his time studying the Navier-Stokes equations.

His time is limited, and he can't do everything himself. Delegating some simple tasks to students and partners is a good option.

Chloe had been his student for a semester. She was quite talented in mathematics and very diligent, unlike the lazy Westerners he had in mind. He knew his top student's abilities; this task was challenging for her, but she could complete it.

"Huh? I...I..."

Chloe's tongue was a little tied.

"I believe you can do it!" Chen Hui smiled at Chloe, his eyes full of encouragement.

Chloe, who was about to say something, blushed and swallowed back the words she was about to say. Who would have the heart to betray the trust of a sunny and handsome man?

"Ask me anytime if you don't understand anything."

After finishing his speech, Chen Hui did not linger in the laboratory.

Before leaving, he glanced at Li Zehan's spot, but Li Zehan wasn't there.

With summer vacation approaching and the first year of college about to end, Li Zehan is busy with his study abroad plans. He had originally planned to have Li Zehan and Chloe complete this paper together, but now it seems he won't have the time.

The next morning, 100 million RMB from Youwei Group was transferred to Chen Hui's account.

The transfer almost alerted a special department, but after the situation was investigated, and especially after the higher authorities intervened, the money was safely deposited into Chen Hui's account.

Of course, of the 100 million Chinese yuan, only 68 million remained in Chen Hui's account...

Chen Hui never expected that he would have to pay personal income tax.

Based on one-time labor remuneration income, when it exceeds 4000 yuan, the taxable income is calculated at 80% of the income amount, which is 80 million yuan. When it exceeds 50,000 yuan, the tax rate is 40%, and the total tax deduction is 32 million yuan!
Even though money is just a number to him now, this tax deduction still hurts him deeply.

"Professor Chen, I suggest you register a company!"

“I’ll help you with the process. In the end, we can reduce the overall tax rate to around 3%. At that time, the tax on 100 million RMB of income will only be about 3 million.”

Professor Yi from the law school found Chen Hui a few minutes ago.

He was also a member of the chemistry department's professor team when he signed the contract with Nvidia yesterday.

The tax burden was reduced from 32 million to 3 million, which naturally tempted Chen Hui. "If I want to withdraw the money from the company, do I still need to pay taxes?"

"of course."

Professor Yi said somewhat awkwardly, "But the company is all yours. You can just spend money through the company's account. Whether it's buying a car or a house, all your daily expenses can be withdrawn from the company account. Many high-income people do it this way."

"If we recruit a lawyer and an accountant from the law school, it will only cost ten or twenty thousand yuan a month, which can save tens of millions of yuan in taxes. Why not do it?"

"If you want to pay even less tax, there are other ways, but they're a bit more complicated..."

Is this how everyone plays?

Chen Hui clicked his tongue in amazement, only then remembering the secret on his payslip.

Take him as an example. His annual salary is 300,000, but 100,000 is a year-end bonus, which was already paid in February. So, according to the cumulative tax bracket, his current tax rate has reached 20%. That is to say, he earns a little over 10,000 yuan a month, but has to pay more than 2,000 yuan in taxes...

Chen Hui accepted Professor Yi's suggestion without hesitation, hiring Professor Yi as his financial advisor to help him handle these matters. Since he couldn't beat him, he might as well join him.

Chen Hui had already inquired with Wang Qiming, and Professor Yi seemed quite reliable.

"Hello, is this Mr. Chen? I'm a customer manager from Universal Bank..."

Not long after Professor Yi left, Universe Bank called Chen Hui, inviting him to purchase their large-sum deposit product. If deposited as a fixed term, the annual interest rate for three years could reach 5%.

This figure is even after the recent cuts in reserve requirements and interest rates; previously, this number would have been even higher.

Such a large sum of money is still very attractive even to banks.

Sixty-eight million, even if deposited in a bank, would yield three million four hundred thousand in interest in a year. Even if he does nothing and just lives a life of leisure, it would be difficult for him to finish this money.

Chen Hui then took out his phone again and looked at the string of zeros in his account. He felt a strange sense of wonder. Without realizing it, he had achieved financial freedom!
Furthermore, Youwei Group will have to pay 100 million RMB in licensing fees to its newly established company, and Nvidia's 300 million USD, or 21 billion RMB, will also arrive in installments.

"Great scientist, pack your things, we're going to the capital."

When Yuan Xinyi arrived at Chen Hui's office, he was surprised to find that Chen Hui was not studying, but laughing. He couldn't help but smile and tease him.

"To the capital?"

"The National Science and Technology Awards Conference is about to begin!"

(End of this chapter)