three days later.

A listed company announcement was quietly updated on the Hong Kong Stock Exchange's morning announcement board.

[Voluntary Announcement from Jianing Holdings Limited: Strategic Transformation and Proposed Establishment of Joint Laboratory]

The announcement was not long.

Jialing Holdings plans to invest RMB 200 million to jointly establish the "Tsinghua-Jialing Storage Joint Laboratory" with relevant research teams from Tsinghua University.

The laboratory's initial research directions include resistive random access memory (RRAM), novel semiconductor materials, in-memory computing architecture, and related patent portfolios.

Meanwhile, Jialing Holdings will gradually divest its inefficient trading business over the next twelve months, retain cash flow from commercial properties, and adjust its strategic direction to invest in cutting-edge semiconductor technologies, commercialize scientific research results, and incubate high-end manufacturing platforms.

The announcement concluded by stating that the company's board of directors believes that this strategic adjustment is in line with the company's long-term development interests and will help improve the company's asset quality and core competitiveness.

There were no passionate slogans, no exaggerated profit forecasts, and not even the words "major positive news".

However, less than ten seconds after the announcement was issued, unusual activity began to appear in the trading of Jianing Holdings.

The first to act were several Hong Kong-listed funds that have been monitoring shell companies and small-cap companies for years.

Jianing Holdings has never had good liquidity. For the past few years, it has been a traditional trading and commercial property leasing company with a low market value, sluggish trading volume, and not many people paying attention to it on a daily basis.

But today is different.

Tsinghua University, semiconductors, 200 million RMB, joint laboratory.

These words, when put together, are enough to make even the most sluggish funds in the market suddenly snap up.

At 10:20 a.m., Jianing Holdings' stock price rose by more than 30 percent.

At 10:45, the increase widened to 40%.

More funds flowed in after the market opened in the afternoon.

Some short-term funds that were originally just observing from the sidelines finally couldn't resist chasing the stock price as it continued to rise.

By the close of trading, Jianing Holdings had closed up 50%.

The Hong Kong stock market does not have the fixed daily price limits that are common in the A-share market.

A small-cap shell company that was previously ignored saw its stock price surge by 50% in a single day, enough to make the entire Hong Kong small-cap stock market excited.

4:30 PM.

In the research departments of several securities firms in Central, the phones rang incessantly.

What is the background of Jianing Holdings?

Is the information from Tsinghua University true?

"Does the announcement say it's a proposed establishment, or has a contract already been signed?"

"Check the ultimate controlling shareholder. Don't just look at the Hong Kong Stock Exchange's disclosures; dig deeper."

"Could this be a case of using Tsinghua University's name to speculate on stocks?"

Various opinions quickly spread in the market.

Some are excited, some are skeptical, and some have already started writing research report titles.

[Canning Holdings transforms into a semiconductor company, a rare hard technology platform in Hong Kong stocks emerges]

Some people sneered in private group chats.

"It's the same old trick: the shell company changes its story and piggybacks on the semiconductor concept."

"The new shareholders just took control, then immediately announced a collaboration with Tsinghua University, causing the stock price to jump 50%. Will they sell at this high price next?"

"What else could this be but a publicity stunt?"

"The question is, why would Tsinghua University cooperate?"

"Tsinghua University may not be cooperating; it might just be a collaboration between a research group, which the listed company is using for packaging."

"That's 200 million RMB. Can an ordinary research group afford that?"

There are different opinions.

Jianing Holdings' phone lines were practically ringing off the hook.

Financial media, securities analysts, private equity funds, Hong Kong stock speculators, and even several mainland technology media outlets have all tried to contact the company's management to find out the details behind the announcement.

However, Jianing Holdings did not hold a conference call or arrange an interview.

There wasn't even a senior executive to come out and explain.

In the evening, the company only provided a brief, formally formatted explanation.

The statement only emphasized that the cooperation still needs to go through subsequent procedures such as signing agreements, disbursement of funds, and project filing, and the company will disclose the progress in a timely manner in accordance with listing rules.

There was not a single extra word.

This silence, however, only fueled the excitement of the outside world.

……

Tsinghua University in Kyoto.

In a meeting room, Qiu Yong sat in the main seat, with a printed copy of the Jianing Holdings announcement in front of him.

Wu Huaqiang and Wei Jun sat on one side.

On the other side were the heads of several relevant departments and research management departments within the university.

After the Tsinghua delegation returned from Hong Kong, the news did not spread completely, but those who needed to know soon found out.

Two hundred million RMB, a new type of storage joint laboratory.

Jia Ning Holdings made the investment.

A student from a western province who was about to take the college entrance examination made the decision in a conference room in Hong Kong.

Putting these pieces of information together, even in a place like Tsinghua University, seems rather bizarre.

"Let me state my position first." A professor from the School of Materials Science and Engineering put down the notice, "In the field of resistive switching memory, China has been lacking stable investment for the past few years. Huaqiang's group has the foundation, the results, and the talent, but in the past, they lacked equipment, platforms, and long-term funding. If Jianing's money can be truly implemented, it will be a good thing for the university."

Someone nearby nodded in agreement.

But soon, someone else spoke up.

"Money is certainly a good thing, but the boundaries of commercial capital entering basic scientific research need to be clearly defined first."

The speaker was a person in charge of the research institute.

"The announcement was just released today, and the stock price in Hong Kong has already jumped by 50%. Now, some people are questioning whether Jianing Holdings is using Tsinghua University's name to manipulate the stock price."

The meeting room fell silent for a moment.

That may sound harsh, but it's not entirely without merit.

Tsinghua University carries immense weight, but the more weight it carries, the less it should be used to tell stories about capital.

Wu Huaqiang frowned: "The cooperation agreement clearly states that the first three years will focus on basic research, platform construction, core patents, and sample verification, without assessing commercial profits. Jianing has priority rights for industrialization cooperation, but will not interfere with the academic direction."

"An agreement is one thing, but how the market views it is another."

The person in charge looked at Qiu Yong.

"Principal Qiu, I'm not against this project. I'm just reminding you that Jianing Holdings is, after all, a listed company. If the stock price continues to fluctuate abnormally, how will the school respond when the media starts asking questions?"

Qiu Yong did not speak immediately.

He looked down at the announcement, tapping his finger lightly twice on the paper.

After returning from Hong Kong, he had actually anticipated the controversy.

I just didn't expect the controversy to come so quickly.

Fifty percent is not a number that can be easily ignored.

But what really gave Qiu Yong a headache was not the stock price of Jianing Holdings.

It's something else entirely.

Shengyinyuan Building 3.

On the surface, it was just a separate residence within a courtyard.

At Tsinghua University, many things cannot be judged by appearances alone.

That small building was quiet, independent, well-located, and had convenient security. It had housed truly important national assets in the past.

There aren't many people in the school who are qualified to know that period of history.

But those who know it understand the weight it represents.

In recent years, more than one academician, major project leader, and top returned scholar have mentioned, either explicitly or implicitly, their desire to use that place.

But they were all blocked.

The reasons are also quite valid.

School resources are limited and require overall planning.

But now, this place has been given to a freshman who hasn't even enrolled yet.

No matter how special this new student is, no matter if he has Chuangsheng Capital and Jianing Holdings behind him, and no matter if he just donated 200 million RMB to Tsinghua's semiconductor program, this matter is still hard to explain.

Qiu Yong has no regrets about giving.

He just regretted agreeing too quickly.

In the Hong Kong conference room, Chen Mo's words truly moved him.

More importantly, Qiu Yong saw in that young man a level of judgment that was completely out of character for his age.

He wasn't there to donate money to buy fame; he genuinely understands how important semiconductors will be in the future.

But schools are not capitalist companies; many things cannot be judged solely by their results.

"For now, we should not expand the scope of information regarding the arrangements for Building 3 of Shengyinyuan."

Qiu Yong finally spoke.

The expressions of the people in the conference room changed slightly.

Wu Huaqiang immediately sat up straight.

Wei Jun lowered his head and drank his tea, pretending that this matter had nothing to do with him.

After all, he was the first person to utter the words "Shengyinyuan Third Building".

Qiu Yong glanced at him.

Wei Jun coughed.

"I just mentioned it casually at the time."

The people in the conference room had strange expressions on their faces.

Qiu Yong shook his head.

"Now that this matter has been decided, it will be handled as a special arrangement for special talents."

"But the subsequent procedures must be standardized, and the school should formulate a unified plan. Just because he is a special case should not leave those below him without any rules to follow."

The head of the research institute nodded: "What about external public opinion?"

"The stock price of Jianing Holdings is handled by the listed company and regulatory authorities," Qiu Yong said calmly. "Tsinghua University only responded to the research cooperation itself."

"We do not endorse stock prices, nor do we comment on the capital market."

He paused.

"But the lab is real, and the money will really come in."

Wu Huaqiang immediately replied, "I can keep an eye on this."

"Of course you need to keep an eye on it."

Qiu Yong looked at him.

"Huaqiang, the money has come, but so has the pressure."

"You used to say you lacked equipment, platforms, and manpower, but now those can all be made up for."

"Then, what the school will look at next is not how much you complain about the conditions, but whether you can truly support this platform."

Wu Huaqiang's smile slowly faded.

He paused for a few seconds, then nodded seriously.

"President Qiu, rest assured. I guarantee this with my academic reputation for the rest of my life."

Qiu Yong didn't say anything more. After the meeting, everyone left one after another.

He was the only one left in the office.

Outside the window are the shadows of trees in Tsinghua Garden in early summer.

Qiu Yong picked up another document from the table.

That was Chen Mo's file, compiled by the admissions office.

Jiangcheng County No.1 Middle School.

Senior year of high school, science stream.

He ranked first in the city-wide unified examinations multiple times.

He comes from an ordinary family.

Looking at just these few pages, no one would guess that this student already owns Chuangsheng Capital in Hong Kong, controls Jianing, invests in OpenAI, has a presence in Nvidia, and even got Tsinghua University's microelectronics department to make a special trip across the sea for 200 million yuan in research funding.

Qiu Yong looked at the ID photo.

The boy in the photo has delicate features and a calm expression. Like all high-achieving high school students, he is clean, young, and still retains a touch of youthful energy.

Qiu Yong paused for a moment, then picked up the phone.

"Notify the admissions office."

"Formally contacted the Education Department of Shanxi Province and the Education Bureau of Jiangcheng County."

"Chen Mo's case needs to be expedited into the special recruitment process."

……

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