Those Years When I Was Forced to Top the Forbes List

Chapter 288 Singularity Group! (5K)

September 1st is a day to remember for Spreadtrum and Singulato.

Every word Chen Xuebing spoke that day required the countless hours of hard work from nearly three thousand people across the two companies to achieve.

Even Chen Xuebing himself couldn't avoid it.

The four negotiating teams consisted of Kan Zhidong, who was running errands in Beijing; Cai Zhijian, who was negotiating with Huawei; Chen Datong, who was negotiating with SMIC; and Rong Xianwen, who went to Shenzhen to discuss the ADI acquisition with Lu Mingyu.

Every negotiation involves a sum of over 10 billion dollars, and every day there are several long phone calls of more than 20 minutes to request instructions and report on various details.

Fortunately, he had set up a backup mechanism in advance, and with Ren Ying, his assistant who had a comprehensive understanding of the situation, he could help him handle and summarize some things. Otherwise, his phone would be busy with lines even at 10 p.m.

The owner of Singularity Technology, however, dared not switch the main SIM card to a Kirin phone. With this level of business, the phone simply couldn't handle the workload without a few spare batteries.

Ren Ying rarely complained, saying that her mind had been very cluttered these past few days and she kept forgetting things, adding that she needed to hire a junior assistant.

Although it was a joke, Chen Xuebing carefully considered the matter and promoted Ren Ying to a higher rank again.

The group's current rating system is not rigorous in assessing job authority. This is mainly because there are many tasks and few people. The company is too new, and there is a serious shortage of middle-level management talent. When senior management gets busy, they just grab whoever is suitable. Many people's responsibilities are not commensurate with their level. Job level mainly reflects the treatment of personnel without special salary agreements.

Ren Ying had actually been promoted twice before, reaching the administrative level A8. This time, she was promoted to A9, with an annual salary of over 20 yuan and additional benefits of tens of thousands of yuan.

We will soon add a 1.1 times seniority multiplier.

The group has been established for almost a year, and according to Ren Ying's length of service, it has actually been a year and a half.

However, in many details, it is still a new company, and as things get busier, it begins to feel the strain of being too small to handle the workload.

Ren Ying stopped emphasizing the issue of labor costs and started suggesting hiring people.

Chen Xuebing also realized that Singularity Technology could no longer exist as an ordinary subsidiary. Once the Kirin mobile phone was launched, it would bring about an explosive increase in business volume, and it was necessary to take the lead in becoming a group.

It is not a simple holding group like Gu'an, but a true business group company.

We need to delegate authority.

After September 5th, the negotiations were basically on track, and the various phone calls gradually stopped.

A light drizzle was falling in Shanghai, but a building in Zhangjiang was bustling with activity.

Chen Xuebing arrived here early in the morning.

The buildings in Zhangjiang are arranged in a square and orderly manner, and the symmetrical streets that lead in all directions divide various enterprises into neat categories, much like the planning of a certain "SimCity" game.

Hidden in the center of the integrated circuit industrial park on Gaosi Road is a five-story rectangular building that looks like a school building from a distance, with a sign at the entrance that reads "3G Baseband Chip Training Camp" to conceal its true nature.

Spreadtrum's ambition to enter the communications equipment market is an open secret, known to both Huawei and ZTE. However, both sides believe that Spreadtrum is still too small to handle many orders, and they also turn a blind eye because of the need for cooperation on TD chips.

However, neither side knew that while the first eight characters of Spreadtrum's "3G Baseband Chip Training Camp" were fake, the last character, "camp," was completely genuine.

There really was a battalion inside that building.

Reinforced battalion.

With both campus recruitment and social recruitment, the number of recruits is close to 1400. Adding in the training teachers, it's almost like an independent regiment with a three-three system.

Moreover, most of them are graduates of 985 universities, and after a three-month internship, their average salary is close to 5,000 yuan, with total monthly salary expenditure of 7 million yuan.

When Chen Xuebing arrived, Lu Weibing had already arrived with two Singularity executives, along with Wu Ping from Spreadtrum, Vice President Fan Renyong, and Liu Qiyu, the technical manager poached from Lucent Bell Labs, now known as Principal Liu, who was in charge of training.

I visited two classrooms. The recent graduates in blue overalls and the experienced engineers in red overalls were observing the waveforms of their self-designed TD-SCDMA signals on an oscilloscope while working in groups to debug test chips using 0.13-micron technology. The courses for the experienced engineers were clearly more in-depth.

I also took a look at the course schedule, and the learning arrangements were quite tight.

Chen Xuebing was quite satisfied.

But Principal Liu was very anxious.

“We visited Huawei’s wireless communication talent program in the Qingpu Industrial Park in Shanghai. Their technical depth far surpasses ours. The courses focus on base station equipment development, and all trainees participate in 3GPP standard simulation meetings and practical exercises in TDD frame structure optimization proposals. In terms of international perspective, they select outstanding trainees to participate in GSM/TD-SCDMA dual-mode base station testing in Europe to cultivate standard-setting capabilities. Although our trainees are all graduates of top universities in Shanghai and are fundamentally stronger than them, their practical skills may not necessarily reach their level after training.”

After thinking it over, Chen Xuebing reassured him.

“Training is the entry ticket to real combat. Your responsibility is to enable them to go to the battlefield. The real training is still in the work. Chairman Wu has set up the subsequent incentive mechanism. Those who learn well can be among the first batch to enter the base station order.”

Now it was Wu Ping's turn to be anxious.

“Our technical preparations alone are not enough. Although the acquisition of ADI brought more than 200 RF technologies, we looked at the list of technologies compiled by Mr. Rong and found that important technologies such as antenna parameter optimization and feeder loss control are not yet mature. We also do not have enough communication algorithm engineers. I am worried that the signal coverage quality will not meet the requirements of operators.”

Chen Xuebing displayed the necessary assertiveness in this matter:

"If it's a general-purpose technology, try to negotiate technology licensing with international telecommunications companies."

"Whoever is willing to give us good technology, we will help them get mobile base station orders. I have already talked to Vice Minister Zhang about the TD opening issue. I will try to communicate with China Mobile. Regarding the issue of technology acquisition, we must negotiate with the high-speed rail to learn from their experience."

"We need to poach talent, both internationally and domestically. Our focus is on ZTE. Although their treatment of fresh graduates is similar to Huawei's, there is a salary inversion for older employees. 80% of older employees have an annual salary increase of less than 100 yuan. They prefer strong and healthy people, while we need experienced people, which is perfect."

“We need all kinds of skilled workers, regardless of which company they work for, and we can also recruit and train skilled workers from the engineering industry.”

Wu Ping's eyes lit up: "You know so much about ZTE's salary and benefits?"

Chen Xuebing smiled calmly: "Just call me if you need internal data from any company. Long March Capital and Emerson have a wealth of data. In the future, I will also set up a data analysis think tank to serve you."

Lu Weibing coughed lightly and gave him a look.

Chairman, don't forget the important business.

You need to tell the difference between your biological son and your godson.

Chen Xuebing glanced at him.

You know shit.

I'm not even the chairman of Spreadtrum yet. If I want people to do things for me, I have to offer them some benefits first.
"Mr. Wu, Qidian is also looking to hire a batch of management trainees. The economics and management departments of Fudan University and Shanghai Jiao Tong University are both good. Could you help the city communicate with them and ask them to help us get a batch?"

Management trainees sign a formal employment contract upon joining the company and enjoy the same rights as regular employees. However, their training path differs significantly from that of ordinary employees. They typically rotate through departments such as sales, finance, and operations to gain a comprehensive understanding of the business chain, and also receive customized leadership training courses.

Although graduates from various disciplines are generally sought after, business majors such as finance, accounting, management, and marketing are definitely the best choice.

Fudan University and Shanghai Jiao Tong University were among the first in China to establish MBA and EMBA programs, and both have very strong business faculty. The most famous of these, CEIBS, is run by Shanghai Jiao Tong University.

Wu Ping frowned.

"Are you sure you only want management trainees? Talented individuals in the semiconductor field?"

He wanted to say that Spreadtrum had already monopolized the market, but since the market was ultimately in Singularity's hands, he still expressed a sincere attitude of cooperation:

"Actually, we can give you some of ours. How much do you need?"

Lu Weibing clenched his fist, about to speak, but Chen Xuebing waved his hand.

"No need. You guys should contact Fudan and Jiaotong Universities as soon as possible. I need the people now. Help me get 100 management trainees who will graduate this June. I have other arrangements for the computer and semiconductor talents that Singularity needs."

"Hiss!" Lu Weibing gasped. "Chairman, this is a large number of talents. According to the IC Department and the Network Company's plan, we need at least several hundred people, right? It's too uneconomical to send headhunters to poach them!"

Chen Xuebing grinned.

Look at your potential.

"Don't panic about this. First, straighten out the management. I'll go to Hefei to discuss the computer and semiconductor issues."

"Hefei. Oh!!" Lu Weibing gradually understood and became excited. "USTC?"

Now, even Wu Ping was a little jealous.

Computer science is a strong subject at the University of Science and Technology of China (USTC), and the country's first National High-Performance Computing Center is located there.

Many of the people at the Institute of Computing Technology of the Chinese Academy of Sciences were graduates of the University of Science and Technology of China, but unfortunately Lenovo did not make good use of them.

Chen Xuebing actually wanted to poach some people from Lenovo, but he was more afraid of bringing Lenovo's trade-industry-technology culture over.

The company needs to be market-oriented, but the environment for R&D must be pure.

"President Lu, the reason I brought you here is both to recruit talent and to let you learn from Spreadtrum. You need to keep up with the pace of large-scale talent development. Singularity doesn't need to wait for projects; employees can start working immediately and be trained on the job. Therefore, the management structure needs to be ahead of the curve, but we also need to prevent internal factions from forming. So, campus recruitment should be mixed with social recruitment, and talents from different sources should be used together. Competition is acceptable, but internal competition must be avoided."

“Okay.” Lu Weibing nodded, then asked, “Should we leave a few for Long March Capital?”

The talent from the management department is a good fit for Changzheng Capital.

Chen Xuebing laughed: "What kind of treatment do you need to worry about at Changzheng Capital?" Changzheng Capital doesn't live off salaries; it's all about performance bonuses. Every business they handle is highly profitable. Ordinary employees get annual bonuses of over 10 yuan, and managers get at least 50 yuan a year.

Moreover, there is little pressure to raise funds, no need for academic qualifications to enhance appearances, and the focus is on quality over quantity. With his guidance, even researchers are not needed; a few dozen people can accomplish billions of dollars worth of work.

The Long March has now adopted a policy of lenient entry and strict exit. Those who will remain will either be exceptionally capable workers or have social connections.

Or, she's a highly educated, beautiful woman who knows how to socialize.

A steady stream of funds, a respectable job, and a high income.

If he really wants to recruit new people, he has to select graduates from all the top-ranked universities in the world, not just Tsinghua, Peking, Fudan, and Shanghai Jiao Tong.

Lu Weibing could only chuckle awkwardly upon hearing this.

Changzheng, no wonder he's the group's biggest tycoon.

Even he could only watch with envy.

“Singularity has been established for over a year now.” Chen Xuebing knew what Lu Weibing was thinking and said slowly, “In the next three years, you must do your best to improve Singularity’s financial situation and strive to obtain listing qualifications earlier than Gu’an Construction.”

Upon hearing this, Lu Weibing felt a little embarrassed: "Chairman, comparing us to Gu'an Construction is a bit much."

Even Wu Ping was a little surprised.

Does Chen Xuebing also own a construction company?
It can go public?!

That's completely unknown! I've never even heard of it!
Chen Xuebing chuckled: "President Lu, don't be too confident. What I want is an A-share listing. The listing requirement is that the net profit for the past three fiscal years must be positive. Recently, Qidian's first year was a loss, which means we worked for nothing. Although Gu'an Construction Development is a bit slower, it made nearly 10 million in profit in its first year and has no pressure to invest in R&D. Once they enter the real estate industry, driven by the profit from land appreciation, you will soon know who is stronger."

Upon hearing this, Lu Weibing frowned.

"Chairman, we've invested so much, this competition isn't fair!"

Chen Xuebing waved his hand and got to the point:
"Therefore, I plan to restructure Singularity into a group within three months, increase investment in Singularity, and take the lead in completing the shareholding system reform and conducting the first round of financing. The large influx of funds will dilute your R&D costs and turn the ROI (Return on Investment) into a positive number."

Lu Weibing was immediately invigorated.

Are they able to raise funds?

Now we're out of trouble!

If Singularity can launch its Kirin phone, it will definitely raise a lot of money!

"Chairman, how much should we raise?"

Chen Xuebing glanced at him.

"Don't overthink it. These are all strategic financings. Gu'an Construction will only do one pre-IPO financing. I don't plan to raise funds for Changzheng. For you, I can allow two financings, but they will both be strategic and the inflow of funds will not be too large."

Getting Singularity to raise funds was a last resort; to expand into overseas markets, it was inevitable to bring in some powerful international capital and technology companies.

As for domestic capital, it's basically not worth considering.

Strategic financing is about raising money to accomplish big things. Investors must have the ability and willingness to address Singularity's shortcomings so that Singularity can achieve a win-win situation with them.

The goals are nothing more than three aspects: technology, market, and supply chain control.

He has already taken care of supply chain control himself through his holding group and Changzheng Capital.

Therefore, in these two rounds of financing, whoever could provide more technology and market share would receive the allocation.

"Each round of financing cannot result in the loss of more than 10% of shares, so the specific amount of funds that can flow in depends on how high you can raise the valuation."

Lu Weibing was already aware of Chen Xuebing's intentions.

But Wu Ping clicked his tongue twice: "President Chen, you control the equity so tightly, and you still want to list on the A-share market. This is not in line with the development of a technology company."

Chen Xuebing knew what Wu Ping was worried about, and patted his arm with a smile.

"Don't worry, I won't interfere with Spreadtrum's listing. You can list it wherever you want."

Mr. Chen smiled easily. Spreadtrum's equity structure was already very complex. He did not pursue absolute control, nor did he want to interfere with their original course of action.

Wu Ping also breathed a sigh of relief. If it weren't listed in the United States, what kind of tech giant would it be?

Little did they know that their respective ideas would soon be proven wrong.

"Chairman, Qidian wants to be transformed into a group. Should we send a chairman over?"

Lu Weibing cautiously raised this question, feeling both worried and expectant.

Worried about others doing it, yet hoping to do it myself.

Chen Xuebing smiled and gave him a compromise answer.

"Singularity only needs one president right now. I'll temporarily act as chairman, but you're still in charge."

After saying that, he made the following arrangements:
"Take care of the recruitment in Shanghai these next few days, learn about Spreadtrum's training model, and integrate it into Singularity's actual situation."

"What about the Qilin press conference?"

"You handle the technical aspects, I'll take care of the rest."

In the afternoon, I had dinner with Xin Mengzhen on the Bund.

Xin Mengzhen was dressed very formally. When she arrived at the restaurant, she took off her suit jacket, revealing a backless black dress with straps.

Chen Xuebing has been messaging her frequently these past few days and often sharing photos. Such communication is a luxury these days, but it's also very effective.

Chen Xuebing's perspective at the meeting, the morning tea on his desk, and the afternoon dinner.

Xin Mengzhen's office, morning coffee, and the scenery during a night run.

In just a few days, the two of them had a shared memory bank built from visual language.

Although their tone of voice was like that of friends, it felt more like a romantic relationship than before.

"I'm leaving tomorrow morning, will you come to see me off?"

When Chen Xuebing said he was leaving, Xin Meng's eyes wavered slightly.

"Where?"

"I'll take a trip up north, see the scenery, take some photos for you, and take care of some business along the way," Chen Xuebing said glibly.

Xin Mengzhen smiled brightly.

If he had cared about me this much a year ago, maybe...
She raised her eyebrows again, looking somewhat melancholy.

There's no guarantee; she's given him everything she could.

Maybe I just like him more. Sometimes when I feel lonely, I feel even sadder.

"I remember you said a long time ago that you wanted to make mobile phones. Now you've made mobile phones and communications. What do you want to do now?"

“When I was a child, my dream was to be a supermarket owner,” Chen Xuebing said, picking up his phone. “Later I thought, ten years from now, every mobile phone in the world will have to pay patent fees to Chinese companies.”

"I envy you." Xin Mengzhen rested her chin on her hand and gazed at Chen Xuebing. "You've almost realized all your dreams. Actually, I still don't know what my dreams should be."

"This is at most a dream; ideals cannot be realized. Communism is what we call an ideal."

Chen Xuebing laughed and said, "I make mobile phones, and you make computers. Why don't we have dreams? Maybe we can come together in the future, make our business bigger and stronger, and create new glories."

Xin Mengzhen chuckled: "What a corny slogan, I don't want it."

"Then let's strive for the supreme ideal of communism. Isn't that a noble slogan?" Chen Xuebing raised his glass.

Xin Mengzhen chuckled: "Okay, for the sake of communism, but shouldn't we get a new enamel mug?"

Chen Xuebing's face fell: "I'm not talking about that kind of communism. We should get a quantum holographic projection cup instead. After pouring in liquid, it will automatically generate a 3D holographic image and immediately display the molecular motion trajectory or a customized starry sky pattern."

"Ah, that kind of communism is so fascinating."

Xin Mengzhen was quick to respond, flashing a hopeful smile: "Cheers, dream weavers."

(End of this chapter)