Reborn in 2012, building a new energy empire

Thursday, September 20th.

Soybean meal prices found support around 3900 points and began to rebound. They rose from a low of 3885 to around 3920.

In the forum, the bulls who had been silent for a long time came back to life, shouting "The correction is over, the bull market is starting again."

Jiang Haoran looked at the screen but made no move.

The rebound was weak, and trading volume did not increase significantly. This is more like a technical correction after the sharp drop than a trend reversal.

He pulled up the weekly chart. The price had broken below the support level established in mid-August, clearly indicating a shift to a bearish medium-term trend. A decline of this magnitude cannot happen overnight; there will inevitably be fluctuations—and rebounds are precisely the touchstone for testing the strength of a trend.

If the rebound is strong and can regain a foothold above 4000 points, there will be another chance for further gains; if the rebound is weak and is blocked and falls back below 3950, it means that the decline is just a temporary pause.

Based on Jiang Haoran's investment experience and his more profound "memories" than most people, he clearly judged that this was just a continuation of the downtrend.

Therefore, he held his position and waited for the opportunity to add to his short position at the rebound high.

Jiang Haoran closed the futures trading software and opened his email.

Last week, I made progress on my request to Professor Sun Zhigang to find a domestic diamond wire research and development team, so I invited him to my office for a chat.

Upon entering the office, Professor Sun gestured for him to sit down and got straight to the point: "You previously asked me to keep an eye out for diamond wire research teams in China, and I've done some research through several channels."

He handed over a handwritten brief list, saying, "These are the companies currently doing this in China, and I've roughly looked into their situations."

Jiang Haoran took the list and looked at it carefully.

Professor Sun pointed to several names on the paper with his pen and analyzed them one by one. "You see, these two companies are backed by large groups and basically do not accept external investment. They belong to the internal R&D system."

"The other two are affiliated with research institutes under state-owned enterprises, so the investment and shareholding procedures are very complicated and the decision-making chain is long."

"There's another company with a strong team, but their lab is located in Chang'an in the northwest, which is geographically too far from the industrial clusters in the Yangtze River Delta. This will lead to higher costs for communication and collaboration in the future."

His pen finally stopped next to "Emerging Technology." "Looking at all the teams mentioned above, Dr. Wang Qiming's team at 'Emerging Technology' has the most solid foundation. They have basically solved the problem of uniformity in busbar heat treatment and have also made breakthroughs in micro-powder bonding technology." He paused, his tone tinged with regret.

"Moreover, they have a geographical advantage in Suzhou and Hangzhou. It's a pity that I heard their funding chain completely broke down, and now they are struggling to survive, which is a real shame. If you are really looking for investment targets, their technology, location, and team structure may be the most realistic choice."

Jiang Haoran memorized the name, and already had a clear comparison and plan in mind.

He continued, "Professor Sun, regarding the technical team, I've actually contacted a potential candidate with a very unique resume. I'd like to ask for your help in personally vetting him from a professional perspective."

"Oh? Who is it?" Professor Sun pushed up his glasses, showing interest.

"His name is Gu Qiushi, a PhD in Materials Science from MIT. He previously worked in R&D at First Solar Energy. Shall I arrange for him to speak with you in person?" Jiang Haoran suggested.

Professor Sun nodded: "Sure. Seeing is believing. You can tell how skilled someone is just by talking to them."

The following afternoon, Jiang Haoran brought Gu Qiushi to Professor Sun's office again.

After a brief introduction, Professor Sun did not ask many questions about the background, but instead went straight to several core issues and cutting-edge developments in current photovoltaic materials and processes.

Gu Qiushi was initially a bit dull, but once he entered the technical field, his eyes immediately became focused and bright.

He not only clearly explained the questions raised by Professor Sun, but also combined his own R&D experience in the industry to compare the similarities and differences and advantages and disadvantages of domestic and foreign technical routes, and analyzed the physical and chemical mechanisms behind the bottlenecks. His words were logically rigorous and his data was detailed.

Professor Sun listened attentively, occasionally asking for details, which Gu Qiushi handled with ease, even extending to considerations related to equipment, costs, and supply chains.

The conversation between the two deepened, and they even had a brief discussion on some minor technical trade-offs.

About an hour later, Professor Sun stopped, a satisfied look on his face.

He turned to Jiang Haoran and said bluntly, "Dr. Gu has a very solid foundation. He truly deserves to be called a talent who has real experience in the industry and has his own independent thinking. Haoran, you've struck gold!"

Everyone exchanged smiles, and Jiang Haoran felt relieved, knowing that he had passed the most crucial hurdle of the technical lead.

He then said, "Professor Sun, I'd like to visit 'Emerging Technology' as soon as possible. Could you please introduce me?"

"No problem," Professor Sun readily agreed. "I have some academic dealings with Wang Qiming's teacher. I'll schedule a time with him, and we'll go over there to talk."

After dealing with these matters, Jiang Haoran returned to his dormitory and reopened the futures trading software.

Soybean meal prices are still fluctuating narrowly around 3910. On the intraday chart, the price curve resembles a tired electrocardiogram, with each upward attempt being lower than the last, and the volume bars also appearing weak.

He didn't act immediately, but instead carefully observed the order book. Buy orders were sparse and mostly at lower prices.

In the 3920-3930 range above, there are noticeably thick sell orders.

So he brought up the trading interface and began to execute his pre-set plan: small orders, in batches, tentatively adding short positions.

The whole process lasted nearly forty minutes.

Like a seasoned hunter, he slowly and methodically built up his position.

Finally, when the price was struggling around 3900, he glanced at his positions: the total number of short positions had quietly increased to 11000 lots.

On news pages, there are more analytical articles about the sharp drop in soybean meal prices. The mainstream view is that the previous gains were too large and a correction is needed to digest them before the upward trend can resume.

But few people mention that this could be a complete reversal of the trend.

That's how the market always is: in the early stages of a trend, most people are completely unaware.

On Friday, Professor Sun sent definite news: He can visit the "New Technology" laboratory in Suzhou next Tuesday morning.

Jiang Haoran didn't monitor the market over the entire weekend; instead, he immersed himself in studying technical data on diamond wire cutting. From steel wire smelting and micron powder preparation to electroplating processes and equipment design, he meticulously analyzed each key link in the industrial chain.

He knew that to invest in this field, he needed to be knowledgeable. At the very least, he needed to be able to understand what the technical team was saying and be able to judge the feasibility and bottlenecks of their technical approach.

On Tuesday morning, Jiang Haoran took Gu Qiushi and Shen Mo by high-speed rail to Suzhou and Hangzhou.

The laboratory of "New Technology" is located in an old factory building in the Suzhou-Hangzhou Industrial Park. The location is remote and the environment is simple.

Professor Sun had already made contact and was waiting at the entrance. After a brief exchange of pleasantries, the group entered the factory.

The laboratory occupies about 200 square meters of space on the first floor, divided into several areas for material processing, electroplating testing, and inspection. The equipment looks old, but it is kept clean and organized.

A young man, around thirty years old, wearing glasses and with slightly disheveled hair, came forward to greet them.

He is Wang Qiming.