Reborn in 2012, building a new energy empire

"Professor Sun mentioned President Jiang to me." Wang Qiming shook hands with Jiang Haoran, his hands calloused. "I didn't expect President Jiang to be so young."

"Dr. Wang, you're too kind." Jiang Haoran looked around the factory. "You do your research and development here?"

"The conditions are rudimentary, I'm sorry to have embarrassed you, Mr. Jiang," Wang Qiming said with a wry smile. "We used to rent an office in the industrial park, which had some decent equipment. But later, due to financial difficulties, we sold what we could and terminated the lease on the office. So we moved to the factory, guarding these core equipment, and barely managed to keep up with the research and development."

He led Jiang Haoran and Gu Qiushi on a tour of the laboratory, introducing them to their technological advancements.

"We are mainly focusing on two areas," Wang Qiming said, pointing to an electroplating machine. "One is the heat treatment process for busbars. Japanese manufacturers use vacuum heat treatment, which is expensive and costly. We have developed a protective atmosphere heat treatment process that costs only one-third of that and achieves 80% of the performance."

He then pointed to another piece of equipment: "The second is the micro-powder bonding process. Japan uses composite electroplating, but we have improved the electroplating solution formula and current control, making the diamond particles more evenly distributed and increasing the bonding strength by about 15 percent."

Gu Qiushi asked questions from time to time, all of which were to the point. Wang Qiming answered them one by one, and the two talked more and more deeply.

Jiang Haoran listened quietly, occasionally asking a few key questions: technology patent layout, raw material supply chain, equipment localization rate, and production cost estimation.

Wang Qiming's answer reassured him. This team indeed possessed genuine expertise, had a pragmatic technical approach, and a clear vision for industrialization.

After the tour, the group moved to the makeshift office next door. The so-called office was just a small room enclosed by partitions, furnished with two old tables and a few chairs.

"President Jiang, I won't beat around the bush," Wang Qiming said as he sat down. "The team is facing dire difficulties. Salaries are three months behind, and two core members have just resigned. If we can't find funding next month, the lab may not be able to continue operating."

His voice was calm, but his eyes betrayed his weariness and anxiety.

"How much funding do you need, and how long can it last?" Jiang Haoran asked.

"At least three million, which can sustain us for a year. In that year, we can solidify our existing processes, produce small batches of samples, and send them to downstream customers for verification."

What is the probability of the verification succeeding?

"Technically, I'm 70% confident," Wang Qiming admitted frankly. "But industrialization isn't just about technology; it also involves cost, stability, and supply chain coordination. All of these require time to refine."

Jiang Haoran pondered for a moment, then looked at Gu Qiushi: "Dr. Gu, what do you think?"

Gu Qiushi adjusted his glasses: "The technical approach is fine. Dr. Wang's team chose a smart entry point, avoiding the most high-end applications and starting with the mid-to-low-end market."

This market has a high tolerance for performance errors but is extremely cost-sensitive. Their process technology has a cost advantage.

He paused for a moment: "The risk is that competition in the mid-range market is also fierce. Several domestic companies are already making similar products, and although their technical levels vary, they will inevitably fall into a price war in the future."

Jiang Haoran nodded, then turned to Wang Qiming and asked, "Dr. Wang, if we're going to invest, we need to clarify the company's valuation first. How did you calculate it before?"

Wang Qiming took a deep breath: "I personally invested more than 500,000 yuan, and the team worked hard for more than two years, applying for several core patents. Although we haven't generated any revenue yet... our internal estimate is 5 million yuan."

Jiang Haoran slowly shook his head, his tone calm but firm: "Dr. Wang, forgive my bluntness, but the company is currently facing a cash flow crisis and is on the verge of dissolution. Patents are not insurmountable barriers either. This valuation is untenable under the current circumstances."

He looked at Wang Qiming and said, "Based on the current situation, I can only agree to a valuation of 2.5 million at most. Moreover, all original shareholders' equity will be locked up until profitability is achieved, and they cannot withdraw. If anyone insists on withdrawing, I have the right of first refusal."

Wang Qiming's face paled, and his fingers unconsciously clenched.

Jiang Haoran continued, "My proposal is: Qilin Technology will invest six million yuan in cash, representing 66% of the company's equity. This money will solve your immediate problems and support at least a year of R&D and trial production. Your team will retain 34% of the equity as incentives for technology and management. Moreover, if there is further progress in R&D, our investment amount can be increased."

The office was silent, save for the faint sound of a truck outside the window. The air seemed to freeze.

Wang Qiming lowered his head, and fine beads of sweat seeped from his forehead.

If you don't accept, the company might go bankrupt and be liquidated next month, becoming worthless. If you accept, the company can survive, and you and your team can retain some of the profits, but you will relinquish control to someone else.

This decision is as heavy as a mountain.

After a long silence, he raised his head, his eyes slightly red, but his voice was unusually clear: "I accept. If we can't produce anything even with the money, then we are indeed incompetent and have no right to hold the shares."

"Okay." Jiang Haoran extended his hand. "Then, there's a third point."

"Please speak."

"If mass production and entry into the mainstream supply chain cannot be achieved within one and a half years after the investment, the team will be disbanded, and the R&D personnel and technical data will be merged into the parent company's structure. At that time, your equity share will be adjusted according to the agreed terms."

Wang Qiming nodded emphatically and reached out to shake hands with Jiang Haoran.

This time, his palms were a little damp, but he gripped them very tightly.

Jiang Haoran nodded: "Then it's settled. Attorney Shen will discuss the specific terms with you."

It was already evening when I left the factory after signing the contract. The setting sun dyed the sky orange-red, and the factory buildings in the industrial park cast long shadows in the afterglow.

"Do you think he can do it?" Gu Qiushi asked.

"I don't know," Jiang Haoran said honestly, "but it's worth the gamble."

Why?

"Because even in the most difficult times, there was still light in his eyes," Jiang Haoran said. "I've seen that kind of light in many people. People with that kind of light often succeed."

He paused for a moment, then continued, "However, we can't rely on just one team for technological breakthroughs. When we get back, we need to take a two-pronged approach."

Wang Qiming's team is at the forefront of industrialization. At the same time, we need to leverage the university's laboratories to build a more cutting-edge and fundamental research and development team.

"Dr. Gu, you will take the lead on this matter, with Professor Sun overseeing it. Our Qilin Technology was, after all, incubated by the university. Only through university-enterprise cooperation, combining theory with practice, can we truly take root."

Gu Qiushi nodded thoughtfully, a hint of eagerness gleaming in his eyes.

On the high-speed train back to Shanghai, Jiang Haoran opened his phone and glanced at the futures market.

Soybean meal prices fell below 3940 points, marking the end of the rebound and the start of a new decline.

His short positions continued to show floating profits.

But what he was thinking about was no longer those numbers.

Rather, it was the pair of eyes that shone brightly despite the difficulties in that dilapidated factory in Suzhou, and the newly unfolded, virtual-real technological research and development blueprint in their minds.

Those eyes and that map represent the true future.