Returning to his senior year of high school, he went all in and made billions by buying at the botto

After the Star Technology Annual Meeting, Chen Mo stayed at Changhu for a few more days.

At 9:00 a.m., Xu Qing assisted in holding a video conference from her hotel suite.

Her right hand is still restricted by doctor's orders from lifting heavy objects, and she cannot work more than six hours a day, mainly responsible for recording and coordination.

On the other end of the screen, Xingchen Medical CEO Gu Yuanhang reported on the progress of the first phase of funding of 500 million yuan: the first phase of the Changhu Biomedical Industrial Park experimental zone is expected to be completed and accepted before the Spring Festival.

Luo Mingyuan's team has expanded to eighteen people and is systematically organizing publicly available sequences of known coronaviruses to build a pseudovirus system, a broad-spectrum antiviral target, and a multiplex nucleic acid detection platform.

When it comes to mergers and acquisitions, Gu Yuanhang has his sights set on a molecular diagnostics company.

Xingchen Medical plans to invest 2.8 million yuan to acquire a 51% controlling stake, with the core team locked up for five years, and the remainder used for capital increases.

Chen Mo approved the entry into the final round of negotiations, establishing the principle of "retaining technological autonomy while taking over the financial, compliance, and quality systems."

At the end of the call, Xu Qing astutely added a crucial mechanism: requiring the establishment of an emergency roster covering cross-border reagent allocation, special cold chain customs clearance, overseas laboratory connections, and security for personnel at risk, in preparation for extreme events.

Gu Yuanhang immediately noted it down and carried it out.

The connection was closed, Chen Mo shut the file, and looked at the woman beside him with a half-smile: "Just got discharged from the hospital, and you're already eager to add more burdens to your shoulders?"

"As the chief affairs officer, I can't just handle Mr. Chen's travel and banquet arrangements."

Xu Qing's lips curled up slightly.

"Besides, most of this contingency plan can be handed over to the team; I'll be responsible for setting up the framework."

Chen Mo did not stop him.

What Xu Qing needs most is never to be protected in a villa.

As long as she doesn't violate the doctor's instructions, he's willing to let her regain her familiar rhythm.

……

January 13th.

Changhu International Center.

Two commercial vehicles that came from the airport were parked at the underground entrance of Douyin's headquarters.

Zhang Ming and several major shareholder representatives of ByteDance got off the bus one after another.

Before Douyin's Series C funding round could begin, the two companies had to decide on one issue.

Whether to continue with the complex licensing and cross-shareholding structure, or to integrate ByteDance's Toutiao, algorithm, GG, and engineering systems into Douyin as a whole.

The meeting lasted from morning until evening.

Chen Mo, Lin Wan, Chen Liping, and Zhang Nan represent the stars and the sound of the heavens.

Besides ByteDance's management team, Zhang Ming was also accompanied by board representatives from several early-stage funds.

The three financial advisors sat on either side of the long table.

No one is discussing whether the merger is necessary anymore.

The only remaining disagreements are valuation and rights.

"Douyin's post-investment valuation was $40 billion."

A ByteDance shareholder representative pushed the materials to the center of the table.

"Toutiao is still growing, and its algorithm, GG system, and engineering team have provided long-term support for Douyin."

"If we only consider ByteDance's standalone business at six billion US dollars, we are clearly underestimating these capabilities."

Lin Wan turned to the section on related-party transactions.

ByteDance holds 28.35 percent of Douyin's shares.

"In the past two years, Douyin has also paid ByteDance for algorithm, GG and engineering services."

"We cannot simultaneously recognize historical authorized revenue and recalculate the asset value of the same contribution."

The other party did not refute.

Both sides were well prepared for the negotiations.

Zhang Ming looked at Chen Mo.

"If the merger is completed, how do you plan to arrange the ByteDance team?"

"Core algorithms, GG, data infrastructure, and overseas engineering systems have all been incorporated into Douyin Group."

Chen Mo said.

"You will continue to be responsible for the global technology platform and information flow business."

"Chen Liping is responsible for the group's operations, commercialization, and organizational integration, while Zhang Nan is responsible for products."

"Starry Sky does not get involved in the specific algorithm development."

"Where is the board of directors?"

"Expanded to nine seats."

"StarCraft nominated five seats, ByteDance's original shareholders nominated two seats, the management team nominated one seat, and external institutions jointly nominated one seat."

The meeting room was silent for a few seconds.

The five seats in the Star Palace mean that there is no room for negotiation regarding control.

Chen Mo continued, "ByteDance shareholders acquired Douyin Class A shares through a share swap, but did not obtain additional super voting rights."

"StarCraft's existing Class B share structure remains unchanged."

"Once overseas business, recommendation algorithms, and user data are all under the same entity, they are not allowed to be separated again."

Zhang Ming asked, "How are economic rights calculated?"

The financial advisor opened the initial model.

Based on current growth data, Douyin's estimated valuation before Series C funding is between $58 billion and $62 billion.

The initial valuation range for ByteDance's independent businesses, excluding its stake in Douyin, is between US$5.8 billion and US$6.5 billion.

If the share swap is completed using the median, ByteDance's existing shareholders will collectively hold approximately 35% of the economic interests in the new group after the merger.

Most of these shares came from Douyin shares that they originally held indirectly through ByteDance.

Star Technology's economic stake will decrease from 48.6% to approximately 44%.

If no more than 8% of new shares are released in the subsequent Series C round, Xingchen's shareholding will decrease to around 40%.

However, with the Class B shares and board structure remaining unchanged, Star will still retain absolute voting control.

"The valuation can be further verified."

Chen Mo closed the model.

"Let's confirm three things first."

"ByteDance's core assets have been fully integrated into Douyin."

"All old licenses and related transactions will be cleared up at once."

"After the merger is completed, we will launch Series C funding as Uni-President Group."

One early shareholder asked, "What if the audit results exceed the current valuation range?"

"Adjusted according to the results jointly confirmed by the independent financial advisors."

Chen Mo looked at the other person.

"As long as the value is real, Douyin will provide corresponding shares."

"But any historical contribution is counted only once."

"agree."

Zhang Ming was the first to express his opinion.

He knew better than any of the financial investors present that continuing to separate the two algorithms, GG, and engineering systems would only waste Douyin's most valuable window of opportunity for global expansion.

After a brief discussion, the major shareholders also nodded in agreement.

9:20 PM.

The Memorandum of Principles for Douyin Group to Absorb and Integrate ByteDance's Core Assets has been signed.

The final share swap ratio still needs to be audited, assessed, and approved by the boards of directors of all parties.

The merger has already overcome the most difficult first hurdle.

Douyin's Series C financing will officially begin after the new group structure is finalized.