Those Years When I Was Forced to Top the Forbes List

Chapter 214 I will quit soon

It happened to be February 20th.

In the reception room of Hefei Daoxianglou Hotel, sofas arranged in a "匚" shape were filled with distinguished guests.

When BOE was established in Hefei in its previous life, it was met with a chorus of doubts.

The Hefei government invested too much, and there was a risk that the treasury would not be able to pay salaries. The subway project was even suspended later.

No provincial leaders were present at the signing ceremony.

For several years afterward, the Hefei government quietly developed amidst a chorus of doubts, until industrial development led to a rapid increase in people's income and a dramatic transformation of the city. Only then did people begin to express their gratitude to this administration.

This time, the situation is completely different.

Of the total investment of 31 billion yuan, Hefei accounted for only 8 million yuan due to Chen Xuebing's involvement.

In addition, a letter of intent for cooperation between Hefei and BOE on a sixth-generation production line was signed today, but the specific investment amount and cooperation method have not been determined, only the intention to cooperate has been revealed.

Judging from the conventional thinking behind the first collaboration, Hefei may once again be achieving great results with a small investment.

The leaders were relaxed and happy. Hefei was gearing up, preparing to launch a series of investment promotion initiatives with the help of BOE and Gree, which will be launched at the end of the year.

The province's top leaders were present, along with the Finance Department, the State-owned Assets Supervision and Administration Commission, large enterprises in the region, and more than a dozen provincial television stations and newspapers.

There were many people, but the scene was very quiet.

At the long table in the center of the hall, Wang Dongsheng, Chen Xuebing, and Li Xiaofeng, the legal representative of the newly established Hefei Xincheng Company, were rapidly signing documents.

The most important of these is the "Preliminary Plan for Non-Public Issuance of Shares".

The final subscribers for this offering will not exceed 10, including two strategic investors, Hefei Xincheng State-owned Assets Management Co., Ltd. and Changzheng Capital Co., Ltd., which the board of directors intends to introduce, as well as no more than 5 other investors besides the strategic investors (the final subscribers will be determined by the board of directors within the scope authorized by the shareholders' meeting based on the specific circumstances).

Changzheng Capital will subscribe for no less than RMB 8 million and no more than 3.3 million shares.

Hefei Xincheng State-owned Assets Management Co., Ltd. will subscribe for no less than RMB 8 million and no more than 3.3 million shares.

(The initial subscription price is agreed to be RMB 2.45 per share)
Behind this agreement are other agreements.

BOE's A-share capital is 22 billion, an increase of 6.6 million shares, bringing it to nearly 28.6 billion.

Changzheng Capital invested 8 million yuan and holds 3.26 million shares, accounting for approximately 11.4% of the shares. As a major shareholder with more than 5% of the shares, according to the newly promulgated "Measures for the Management of the Reduction of Shares by Major and Minor Non-Tradable Shareholders", the major shareholder has the right to sell 5% of the shares on the stock market after one year.

Hefei Xincheng holds the same percentage of shares.

One year after the agreement takes effect, each party can sell 5% of the shares on the stock market. In addition, BOE promises to repurchase 5% at 90% of the market price, and each party will sell 2.5%.

The remaining portion can be transferred through agreements by introducing external investors to BOE.

A revenue rights agreement was signed between Changzheng Capital and Hefei Xincheng. Under this investment contract, Changzheng Capital will receive 30% of the investment returns.

In addition, BOE Technology Group Co., Ltd., invested by Hefei Xincheng, has been held by Changzheng Capital for five years.

The agreement that constitutes this investment contract alone is more than a dozen pages long.

In addition, there is a stock price betting agreement that is not suitable for public disclosure.

If BOE's stock price reaches 6 yuan within six months, Changzheng Capital will have three board seats and the sole right to nominate a CFO.

After the signing was completed, a round of applause erupted.

Chen Xuebing shook hands with Wang Dongsheng and Li Xiaofeng, then walked to the sofa next to several provincial leaders and sat down. On one side of the provincial leaders was Secretary Sun, and on the other side was Mayor Wu.

Wang Dongsheng received even higher honors, sitting in the same row as the provincial leaders and receiving their warm greetings.

In formal settings, Chen Xuebing, as an intermediary and investor, was certainly not suitable to sit in the main seat, but Mayor Wu gave him the seat next to his own to show his respect.

The atmosphere was lively, and Mayor Wu laughed heartily, "President Chen, this time we are truly weathering the storm together!"

Chen Xuebing was also very excited. BOE, the future billion-dollar giant, the industry leader that controls a quarter of the world's terminal panel production capacity, was about to become his major shareholder, holding 22.8% of the voting rights. In six months, he would control three board seats.

However, with provincial leaders present and major Anhui media outlets recording the event, this was the first time he had appeared in such a formal setting. He straightened his suit, sat up straight, and smiled faintly:

"My funds will be in place within a month. By then, I hope Mayor Wu's golden scissors will be ready."

"Haha, definitely, definitely!"

Secretary Sun spoke in a gentle tone: "President Chen, this is so fast. We didn't expect it at all. You and your team have made a huge contribution to Hefei. Hefei thanks you. We need to cooperate more closely in the future. Please feel free to make any requests you may have."

“Secretary, my funding isn’t a big problem. The more important thing is that Hefei needs to be prepared for potential crises and make good use of the next six months to get the funds circulating, withstand the pressure from the next round of investment, and appease public sentiment… But you don’t need to worry too much. As long as we get through the first half of next year, I will gradually help you get out of your predicament and make a profit. Once Hefei has money in hand, it can gradually radiate to the surrounding cities and counties, drive the development of the whole province, and be a good leader.”

Mr. Chen's speech today was of a very high standard.

Because provincial leaders were present, their speeches reflected the overall situation of the entire province.

The provincial leaders' attention was drawn to Chen Xuebing. They smiled and nodded, saying with considerable emotion, "What Xiao Chen said is very good. Hefei has made a good start, and the next step is to drive the overall development. The province will fully support this! Scientific development, enabling all people to share the fruits of reform, also cannot be separated from entrepreneurs like you who have a strong sense of social responsibility. I see that Xiao Chen is very young, just like our thriving private capital—youthful, energetic, and full of drive. We must resolutely adhere to the principle of government guidance, enterprise leadership, and market operation to give full play to the role of enterprises. Under such attention, your Changzheng Capital should also set a good example for private capital!"

As soon as he finished speaking, a burst of applause erupted around him, and the camera slowly panned in, zooming in on the faces of the leader and Chen Xuebing one by one.

The leader's speech contained not only hopes but also requirements.

If an ordinary businessperson could get a request from a leader at this level and have it broadcast on television, it would be something to brag about for a lifetime.

Even though Chen Xuebing had seen his share of things in his previous life, he was still a little dazed with joy after being praised by his superior, and he couldn't stop smiling.

"Please rest assured, leaders, our Gu'an Group will develop and progress together with Hefei and Anhui!"

"Okay, I've taken your words to heart!"

Another round of applause erupted.

...

Chen Xuebing and Wang Dongsheng emerged from the reception room, where even more spotlights were shining. Daoxianglou is Anhui's state guesthouse, with government functions taking precedence. Today, the province was holding a meeting, so the guesthouse was completely closed, and uninvited media were not allowed in. Many reporters were waiting outside.

As soon as the two appeared, the outside area became noisy.

"Is it them?"

"Yes, Mr. Chen!"

"Mr. Chen!"

"Mr. Wang!"

Numerous microphones were handed over.

Ren Ying, who was following behind, silently recited the "Chairman's Assistant Duties and Standards" and rushed forward from the side with her slender body to block a large group of reporters.

Very brave, unlike the first time.

Chen Xuebing chuckled, realizing he would soon have to get used to being stalked by reporters, and waved to them.

"One at a time! Time is tight, so ask as soon as possible!"

"Mr. Chen, I heard that you are a private equity fund established last year, which raised 1.7 million yuan. This time, you are investing 8 million yuan. Where did such a large amount of money come from?"

The first problem is a lack of boundaries.

"The fund has an obligation to keep client information confidential, so it is not convenient to disclose it."

"Mr. Wang, I heard that you were still negotiating with Shenzhen. BOE signed a contract for two production lines in Hefei this time. Is the cooperation with Shenzhen still ongoing?"

Upon hearing this question, Wang Dongsheng's demeanor became somewhat more confident, as if the gloom of being rejected by Shenzhen had been swept away. However, he still carefully considered his tone:
"Hefei is a vibrant place, with a great cultural environment. The government places great importance on emerging industries, especially the technology industry, demonstrating a strong sense of mission and responsibility..."

The reporter, getting impatient with the slow, drawn-out praise, focused solely on BOE without mentioning Shenzhen, and finally asked again, "What about Shenzhen? Are they still cooperating?"

This time, Wang Dongsheng shook his head: "Unfortunately, there aren't any more."

"How long will it take for the second sixth-generation production line to be completed? How much investment is needed in Hefei?"

That's exactly the problem we're trying to prevent.

The sixth-generation pipeline requires a large investment, and once it is discussed, it will inevitably attract a lot of criticism.

Chen Xuebing immediately raised his hand: "We're still negotiating. We'll announce it to the public after the contract is signed! Next!"

Wang Dongsheng immediately shut his mouth.

Regarding the external communication strategy, both parties agreed that Changzheng Capital would take the lead.

Reporters keenly sensed Chen Xuebing's dominant position and began asking questions about Changzheng Capital.

"Will Hefei and Changzheng Capital participate in BOE's decision-making after this investment? BOE is a state-owned enterprise under the Beijing Municipal State-owned Assets Supervision and Administration Commission. Will you compete with the Beijing Municipal Government for controlling stake in BOE?"

This problem is fucking awful.

I can't not answer.

BOE's equity financing plan has been met with a lot of questions, and they even had to sign an agreement to repurchase 5% of the equity after one year in order to obtain permission. Next, they will need to raise funds for their sixth-generation line, which will further reduce the control of the Beijing State-owned Assets Supervision and Administration Commission.

Not answering might touch a nerve with some sensitive people.

Does BOE still belong to the Beijing company?

"Our investment is not aimed at gaining controlling interest! We will exit as soon as BOE succeeds!"

Chen Xuebing said with a firm expression.

After saying that, he stopped accepting questions and quickly led Old Wang away.

Little did they know that this phrase would later become a meme.

Whenever President Chen utters this sentence, someone exclaims in surprise:
The wolf is coming!
……

In the afternoon, everything returned to calm.

Chen Xuebing booked a flight back to Chongqing, but it will be the day after tomorrow.

BOE still has some issues regarding the factory construction process to be determined, and the total investment contract may undergo some minor changes, requiring a new signature. Therefore, they cannot proceed for the time being.

Such problems often occur in large-scale projects. Currently, Changzheng Capital does not have a general manager, and he is still the legal representative. If a new legal representative is not appointed, he will still have to be the one to sign large contracts.

There are many things.

At this moment, Cheng Danting and a young man were sitting upright on the sofa in Chen Xuebing's hotel room, waiting for him to keep making and receiving phone calls.

"Is the meeting over? What's the story? Have you made contact with anyone from Xinhua Insurance?"

On the other end of the phone was Cai Zhijian, who had already returned to Chongqing.

Today is the contract signing day set by Anhui. Chen Xuebing was unable to return to Chongqing for the financial meeting, so he had to arrange for Cai Zhijian to go back first.

Chen Xuebing also gave him a task: to contact Xinhua Insurance.

According to Kan Zhidong, this insurance company's headquarters is in contact with some private equity funds in Shanghai, intending to invest in the stock market through this channel.

Today, Chen Xuebing is surrounded by various accolades, but his foundation is still weak, lacking a thick layer of banknotes to support him.

It's time to activate the seventh level of the power of money.

(End of this chapter)