Director of Photography Department of Huayu

Chapter 267 IDG's Future Power of Determination

Afternoon at Dongzhimen in Beijing.

Sunlight filters through the thin clouds and spills across the entire glass curtain wall, reflecting a clear, bright blue image.

Pedestrians walked sparsely past the subway exit, and the summer breeze carried the scents of cafes and print shops from the street. Two or three white-collar workers smoked and chatted downstairs in the office building.

This is a newly emerging business cluster in Beijing in recent years. It is not yet able to compete with the CBDs such as Guomao and Jianwai, but thanks to its convenient location near the Third Ring Road and subway hub, it has gradually attracted a group of young cultural and creative companies to settle here.

Meanwhile, the rapidly growing NetEase Culture was located here, and it also attracted a giant in the investment world.

The office of Li Feng was filled with the aroma of tea.

The room wasn't particularly spacious. Against the wall was a poster that still read "Woman in the Courtyard," slightly old with the corners curled up.

"Mr. Xiong." Li Feng smiled and pushed a cup of West Lake Longjing tea towards him, his tone carrying a sense of composure and warm hospitality.

"Hmm." Xiong Xiaoge nodded, but her eyes were fixed on the poster.

After a moment of silence, a faint smile of reminiscence slowly crept onto her lips. "It's been several years now. Back then, this movie was shelved for months. You were still busy running around to theaters all the time."

Li Feng followed suit, his eyes showing a hint of nostalgia, but he quickly looked away: "I don't run much anymore, I can't run anymore."

The last time he was involved was because of Wu Chen, who helped him get the movie distributed through internet cafes.

"You made ten million last year?" Xiong Xiaoge casually flipped through the briefing on the table, her tone clearly full of praise.

“The data is accurate.” Li Feng nodded. “Thanks to Xingchen’s resources, we have connected with a lot of film sources, as well as internet cafe channels, which are areas where we already have an advantage, so our coverage has expanded rapidly.”

Xiong Xiaoge nodded, but a thoughtful look appeared in her eyes: "But I heard that you've already spent forty or fifty million on resource procurement this year?"

"Yes," Li Feng admitted. "The price of legitimate resources is rising, and we now need to lock in movie sources in advance, so the competition is much fiercer than before."

Xiong Xiaoge put down the documents and sat up straight: "I see the potential of NetEase very clearly. IDG has just completed its initial assessment of your company, and it has venture capital value."

My proposal is to invest $20 million to further expand content copyright and backend distribution capabilities.

Upon hearing this, Li Feng fell silent. Although he was somewhat prepared, the figure of twenty million US dollars still surprised him.

The valuation is high, but IDG has also invested a lot, which means they want a lot of equity.

"This matter needs to be informed to Mr. Wu of Xingchen Pictures, who owns a 20% stake in NetEase Culture."

After a moment of contemplation, Li Feng responded that he also needed some time to think. Although Xiong Xiaoge had been kind to him, the amount of the initial investment was a bit too much. What if he needed a lot of money in the future? Would he have to dilute his equity again?
Xiong Xiaoge nodded: "I understand. Organize your thoughts again, and we can discuss a reasonable dilution ratio in the next round. Don't worry, IDG doesn't make mandatory interventionist investments."

He was also somewhat curious about Wu Chen, this rapidly rising star in the film and television industry.

According to IDG's analysis and predictions on the film and television industry, the industry is currently in a period of rapid development, but unfortunately, he doesn't know much about this aspect.

Wu Chen was also a little excited when he received Li Feng's call.

The arrival of IDG means that the initial investment will soon yield rich rewards, and most importantly, he also wants to try to use IDG as a link to fight for the right to speak in the future self-media era.

"I told you not to answer the phone while driving, why didn't you listen? Even if it's an emergency, you have to put it on speakerphone. What if something happens?" Liu Yifei said in a clearly reproachful tone, clearly dissatisfied.

"Okay, I got it." Wu Chen felt a warmth in his heart and interrupted her nagging with a smile. "I'll definitely be more careful in the future."

He put down his phone and turned his head slightly to look out the window.

The vehicle had now entered the familiar villa area, where camphor trees on both sides of the road swayed gently, their leaves tinged with the green of early summer.

"Tired?" Wu Chen suddenly asked, his tone innocently relaxed. "Why don't you come to my place and rest for a while? Have some cold drinks and enjoy the air conditioning." Upon hearing this, Liu Yifei's ears twitched involuntarily, even her fine downy hairs trembled, and she spoke with a slight reproach:

"You big pervert. How can I possibly rest at your place? I'm not falling for that."

"Tsk." Wu Chen pretended to be serious. "You have a serious misunderstanding about me. I strongly suggest that you quickly get rid of your prejudices and maintain the judgment and rationality that an adult should have."

"Hmph, sweet talk!"

Liu Yifei snorted and chuckled, her voice clear and crisp like a wind chime, as if she was completely amused by him. "Anyway, I'm not going. I have to go home. I'll come back tonight to sing."

"Alright." Wu Chen shrugged and drove into the familiar intersection. "But don't forget what you promised."

"What is it? I don't know," Liu Yifei asked knowingly, but her eyes were already secretly glancing out the car window, her cheeks flushed.

"It's okay, you'll probably remember me after I graduate."

Wu Chen didn't expose him. Little brat, you think you can go back on your word after agreeing to something?
Liu Yifei slowly leaned her head against the car window, a hint of a smile shining from the corner of her eye.

The sunlight shone on her eyelashes, making even the slight blush look as soft as morning dew glide over cherry blossoms.

In June, the sun shines brightly in Beijing.

In the days since Wu Chen returned to China, apart from the initial media frenzy and the rush of students returning to school, he has entered a rare "buffer period".

Although there were some commendations and meetings that needed to be done by the bureau, they were all scheduled for a week later, giving him plenty of time to make some adjustments.

He also took the opportunity to sort out the things he was doing.

Currently, the projects that need to be handled are "Painted Skin," the release of "Black Peony" at the end of the month, NetEase Culture, and his preparations for a new film.

Xiang Zhuo has already called about the "Painted Skin" project, saying that filming can begin in mid-June, and Ning Ying has already completed preparations in Ningxia.

After a series of coordination and preparations, filming was scheduled to begin on June 15th.

With the support of China Film Group and Enlight Media, "Black Peony" can be completed without much delay as he and Liu Yifei work together.

He's still hesitant about the new movie, though.

Just then, an urgent meeting notice was sent to all the major film and television companies. It was a high-level meeting, and no one was even given time to prepare. The meeting was scheduled for the afternoon of the next day after the phone call.

While discussing the release of "Black Peony" with Han Sanping, Wu Chen asked curiously, "Chairman Han, what meeting is in such a hurry?"

"Do I even need to mention that?" Han Sanping chuckled. "When has the bureau ever initiated an emergency meeting?"

Wu Chen was immediately pointed out, clearly indicating that the content of the meeting originated from a higher level.

"I heard it might be related to cultural strategy and a new round of support plans for the film industry. It should be good news. Let's hear what Director Tong has to say tomorrow."

"Junior brother, what's going on? Did you receive a meeting invitation from the bureau? I just received one." Ning Hao, who was filming "Crazy Racer" in Lujiang, also received the invitation and was somewhat confused.

If they have to rush back while filming a movie, the production team will suffer a loss of at least several hundred thousand yuan.

"I received it. Didn't you tell the bureau you were busy?"

"I told them, and they said they'd ask first and get back to me later, so I'm wondering why. If I really need to go back, I'll have to book my flight tonight."

"It shouldn't be that bad."

(End of this chapter)