After a brief moment of shock, Liu Sheng picked up the business card again.

"The actual controller behind Xingchen Technology has always been a mystery; I never expected it to be President Chen."

His title has changed.

"It's not convenient to disclose my identity at the moment," Chen Mo said. "I hope Mr. Liu will keep it a secret."

"Of course."

Liu Sheng placed the business card in front of him.

"However, if I may be frank, the Douyin shares held by Xingchen are very valuable, but that is only a book value."

"The four billion US dollars raised by Douyin in its Series B funding round also belong to Douyin Group and cannot be used to invest in another company at will."

Liu Sheng did not give up asking questions just because of Chen Mo's identity.

This deal has evolved from a casual contact into an investment that could truly change the future of Accelink, and he must ensure that every promise is kept.

"you're right."

Chen Mo did not evade the question.

"The four billion US dollars from Douyin will only be used for Douyin's own development, and Xingchen will not divert it."

"The 1.5 billion yuan investment in Xuchuang will be financed by Xingchen Technology through its own funds and equity financing."

He gestured to his entourage to bring out another document.

Inside is a summary of Xingchen Technology's assets, bank credit lines, and the shareholding information confirmed by the auditing firm after Douyin's Series B funding round.

Some sensitive data has been redacted.

However, the remaining content is still enough to prove that even without Douyin, Xingchen Technology now has sufficient financial strength.

Liu Sheng flipped through the documents.

After confirming the creditworthiness certificate issued by the bank, his last bit of doubt about the funds disappeared.

"Why is it 30%?"

[At this point, I hope readers will remember our domain name 1110 ...

"Because I hope this is a long-term strategic investment."

Chen Mo said.

"StarCraft will incorporate Accelink into its computing power and optoelectronics industry layout, but will not interfere with its daily operations."

"The two board seats are negotiable. If the existing board structure is inconvenient, Xingchen will accept one full board seat and one non-voting observer seat."

This concession surprised Liu Sheng somewhat.

"You really don't intend to take control of Accelink?"

"no need."

Chen Mo answered very decisively.

"You know better than anyone at Xingchen how to design optical modules, how to promote customer certification, and how to adjust the production line."

"I invested 1.5 billion yuan in the hope that Accelink would grow faster, not to put someone who doesn't understand technology into the company and teach you how to make products."

Liu Sheng looked at him.

"What if the 100G product doesn't meet expectations?"

"Starry Sky will bear the investment losses."

"The management team is not required to sign performance-based agreements, nor do they bear any personal responsibility for share buybacks."

What if the IPO promise fails?

"We need to identify the reasons for the failure."

Chen Mo said.

"Regulatory review is not controlled by any individual, so I will not promise in the contract that the China Securities Regulatory Commission will definitely approve it."

"What I can promise is that the selection of A-share platforms will be completed within six months."

"The plan will be finalized and officially launched within one year."

"Within two years, Xingchen will get all the work that can be done in place."

"If the listing plan is not launched on time due to Xingchen's own reasons, Xingchen will provide another window for the transfer of old shares for early shareholders who need to exit."

"The transfer price shall not be lower than the valuation in this round, and reasonable capital costs shall be compensated."

In this way, even if the A-share listing is delayed due to regulatory reasons, early-stage capital still has another exit path.

They don't need to pin all their hopes on a single restructuring review.

Liu Sheng asked, "Where does Xingchen plan to find a listing platform?"

"No specific target has been set at the moment."

Chen Mo said frankly.

"I won't just buy a shell company with a complicated history of debt just to save time."

"In the coming year, we will select A-share companies with clear main businesses, stable control, light asset burdens, and willingness to upgrade their industries."

"According to the fact that Accelink can acquire assets through the issuance of shares to enter the listed company, there is no problem for the original controlling shareholder to continue to maintain control."

This arrangement is very close to Liu Sheng's vision for the A-share market.

Xuchuang doesn't need to accept a problematic listed company just to find a shell company.

There's no need to spend all your funds on acquiring control.

As long as a company with a manufacturing base and a suitable equity structure is found, both parties can complete the listing through industrial restructuring.

"There's one more question."

Liu Sheng closed the document.

"Google Capital, Lightspeed Venture Partners, and other early investors may not be willing to sell only $500 million worth of existing shares."

"They can continue to hold them."

Chen Mo said.

"The allocation of the 500 million yuan existing share quota in this round will be negotiated and distributed among the existing shareholders."

Those who wish to withdraw will receive a portion of their funds first.

"Those who remain optimistic about Accelink can retain their shares and exit after the company's A-share listing."

Liu Sheng remained silent for a long time.

This solution caters to the needs of almost everyone.

Xuchuang received 1 billion yuan in new funding.

Existing shareholders have a first exit window.

The management team retains the right to operate the business.

Xingchen does not set performance-based incentives, nor does it require Liu Sheng to assume personal repurchase responsibility.

If the two-year A-share plan cannot be implemented due to Xingchen's own reasons, early shareholders can still obtain a second liquidity arrangement.

The offer was so attractive that it instinctively made him wary.

"What does Mr. Chen want from Xuchuang?"

Liu Sheng asked again.

"I've already said that."

"Optical module".

"There should be more than that."

Chen Mo looked at him and finally gave a more complete answer.

"Douyin will become one of the world's largest content platforms."

"OpenAI will continue to increase its investment in computing power."

"The future Star System will possess algorithms, data, chip design, and computing platforms."

"Accuracy Technology can fill the gap in high-speed optical communication."

"I don't need to control Accelink."

"As long as Accelink remains at the forefront of technology and is willing to maintain long-term cooperation with StarCenter's computing power system, StarCenter's 30% stake will become increasingly valuable."

This time, Liu Sheng truly understood Chen Mo's plan.

Chen Mo is trying to connect artificial intelligence, chips, silicon photonics, and data centers.

Accelink is the missing link in this complete picture.

"I need to communicate with the other directors."

Liu Sheng stood up.

"Especially Google Capital and Lightspeed."

"No problem."

"My team will stay in Suzhou and Hangzhou."

Chen Mo said.

"You can also investigate Star Technology."

"This is a long-term deal, and both parties should know what kind of people they are working with."

……

That night.

Accelink held its first extraordinary board meeting.

Representatives from Google Capital and Lightspeed China joined via video.

The meeting lasted until the early hours of the morning.

The early-stage institutions had little objection to the pre-investment valuation of 4 billion yuan.

What they really care about is whether Xingchen can deliver on its 1.5 billion yuan investment and how confident they are in its two-year A-share plan.

The next morning.

Xingchen Technology's bank creditworthiness, Douyin equity certificate, and preliminary financing arrangements were submitted to the board of directors of Xuchuang.

In the afternoon, the two sides began the second round of talks.

This time, Liu Sheng brought his R&D, production, and supply chain teams.

"If the 1 billion yuan capital increase is received, how does Accelink plan to use it?"

Chen Mo asked.

The vice president in charge of production opened the budget.

"The first part is used for the expansion of the 100G production line."

"The second part is invested in the research and development of next-generation products and customer sampling."

"The remaining funds will be used to purchase raw materials and cover customer payment terms."

How much is the R&D budget?

The other party gave the numbers.

Instead of compressing, Chen Mo asked, "Is that enough?"

Several people in the conference room looked at him at the same time.

Liu Sheng said, "It's enough according to the current plan."

"Even if we launch the next generation of products ahead of schedule, there will still be a gap."

"List out the complete plan."

Chen Mo said.

"Don't deliberately delay the technology roadmap just to make the budget look good."

"As long as the project passes the review of Accelink's internal technical committee and board of directors, the funding gap before the listing will be covered by Xingchen."

Liu Sheng stared at him.

"Doesn't Xingchen demand that Xuchuang increase its profits as soon as possible?"

"The product window is more important than one or two years of profit."

In fact, Chen Mo was more aware than Liu Sheng that each upgrade of the optical module's speed required a large investment.

If the company cuts R&D costs to make its financial statements more favorable for listing, even if Accelink successfully enters the A-share market, it may lose its most important technological advantage.

……

After the third round of meetings, Accelink held another board meeting.

Several financial investors originally wanted to negotiate for a higher amount of existing shares to be sold.

For the first time, Liu Sheng explicitly supported Xingchen's plan.

"What we need most right now is not to sell the company for a good price."

"100G products are entering the mass production phase, and the next generation of products must be launched immediately."

"If we wait another six months for Nasdaq, Accelink will miss the most important window for capacity expansion."

"StarCraft is willing to provide funding and also to allow the management team to continue developing the product."

"Such a shareholder is more important than a shell company that is only responsible for putting the company on the stock exchange."

After nearly four hours of discussion, the board of directors made its final decision.

Accelink and Star Technology signed a 30-day exclusive negotiation agreement.

The investment team from Xingchen Technology came from Changhu and officially moved into Xuchuang.

Chen Mo and Lin Wan had a brief meeting.

After some time apart, Lin Wan, dressed in professional attire, seemed to have become even more alluring.

Also in the conference room were the management team of Accelink and employees of Star Technology.

The two did not act overly intimate, only whispering as they shook hands, "Mr. Chen, you've found me another big project."

"Does President Lin not like it?"

"How could I not like an investment of 1.5 billion yuan?"

She spoke calmly, but her fingertips gently hooked Chen Mo's palm.

He then casually withdrew his hand and turned to arrange the follow-up work.

Xingchen Technology assembled a dedicated team of more than ten people for this investment.

Lin Wan assigned each task to a specific person in just over an hour.

For the parts involving Google Capital, Lightspeed China, and overseas structures, she set up a separate communication team, and all important documents had to undergo double review.

By the time she came out of the meeting room, it was completely dark.

Chen Mo stood at the end of the corridor waiting for her.

Lin Wan walked closer, and the composure she had maintained all day finally relaxed.

She pouted and complained, "You came back to China and didn't even come to see me first!"

Chen Mo didn't try to deny it, and looked at her gently: "It's my fault, I'll spend the night with you."

Lin Wan's eyes flickered slightly, and Chen Mo had already reached out and pulled her into his arms.

Occasionally, the sound of employees' footsteps could be heard passing by in the corridor. Lin Wan's body stiffened slightly, but she did not pull away. Instead, she obediently pressed her face against his chest.

"There are so many people..." she muttered softly, "We'll talk about it when we get back to the hotel..."

"What are you doing now?" Chen Mo whispered in her ear.

Lin Wan's ears instantly burned. She lightly punched Chen Mo's chest and gave him a coquettish glare: "You know perfectly well why I'm asking this."

She then broke free from Chen Mo's embrace and straightened the wrinkles in her clothes.

"I haven't had dinner yet?"

"Let's go, let's eat together."

"I don't want to go to a fancy restaurant, it's too much of a hassle." Lin Wan turned to look at him. "There's a well-established Suzhou-style restaurant nearby, my parents took me there before, how about we try it?"

"Okay, I'll follow Mr. Lin's arrangements."

.........

After dinner, I returned to my hotel suite at 10 p.m.

The moment the door locked, Lin Wan took off her high heels, her long, black-stockinged legs stepping onto the soft, warm carpet.

She pressed herself against Chen Mo from behind, her slender arms wrapping around his waist, burying her face deep into his back, and greedily inhaling.

"Chen Mo."

"Um?"

"I've really missed you these past few days."

Chen Mo turned around and casually reached out to lift her up by the waist.

Lin Wan gasped softly, laughing as she wrapped her arms around his neck, letting him lead her to the large sofa.

Outside the window, the Suzhou Industrial Park boasts a dazzling yet tranquil night view, while inside, a sense of warmth and peace flows between the two of them.

afterwards.

Chen Mo held the woman in his arms tighter, listening to her recount the recent events at Starry Sky Technology in fits and starts.

From Douyin's business adjustments after its financing to Pinduoduo's investment team's first follow-up visit.

From Liu Xin complaining on the phone about being too idle, to Li Xiuyun bringing her a box of homemade pastries a few days ago.

The sound gradually faded, and Lin Wan leaned against him, a satisfied smile on her lips, and fell into a deep sleep.

……

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