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

March 14th.

Nine o'clock in the morning.

Two black Hongqi sedans drove into the western suburbs of Kyoto.

The vehicle passed through three heavily armed guard posts and finally stopped in front of a gray building surrounded by pine and cypress trees.

The car door opened, revealing a chilly spring day.

Instead of his usual close bodyguards, Wei Shan was approached by a guard in dark civilian clothes wearing a special police badge to verify his identity. The guard then led him to the isolation lounge outside.

"Mr. Chen, no accompanying personnel are allowed to enter the meeting room inside."

"clear."

Chen Mo walked through the corridor alone.

After the heavy wooden door was opened, more than a dozen people were already seated around the conference table.

Gu Shaoting, Wu Huaqiang, and the president of Tsinghua University were all present.

The National Integrated Circuit Industry Investment Fund, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the Ministry of Finance, and the State-owned Assets Supervision and Administration Commission each dispatched their highest-level officials.

Lu Changming, who was sitting in the second seat on the right, looked up and nodded slightly to Chen Mo.

He assumed his new post last month as Executive Vice Chairman of the National Development and Reform Commission, responsible for major industrial and technological investments and long-term capital coordination.

This was exactly the next step Lu Changming had been waiting for since Han Jingzhi withdrew.

Next to the head of the conference table sat an elderly man with gray hair.

Chen Mo was very familiar with this old man, who frequently appeared on television news.

This person was also the one who, during the investigation of Tai Chu, secretly detained and recorded the names of all those who overstepped their authority to access Chen Mo's files and privately leaked information to others.

It was that complete record that preserved the most crucial chain of evidence for subsequent investigations.

The old man did not announce the title, but gently pointed to the empty seat next to Gu Shaoting.

"Please sit down."

"Today we'll talk about the dawn, and also about you."

The heavy wooden door slammed shut behind me, and the faint electrical hum of the signal jamming system activating flashed by.

Gu Shaoting stood up first and reported the results of the national-level retest on behalf of the technical research team.

The two national-level laboratories rebuilt their environments to cross-validate large matrix computation, storage retrieval, effective bandwidth, and performance per unit power consumption.

"Compared with the first round report from Qingjia, the dispersion deviation of all retest data is strictly controlled within 1.2%. The topology logic and performance indicators of the Chenxi-1 engineering sample are true and valid."

Gu Shaoting did not repeat the emphasis on those leading percentage points.

The second half of his report focused almost entirely on the issues.

There is still a reliance on imports for packaging materials.

The high-volume yield of intermediary layers and microbumps has not been validated.

3D design, thermal stress simulation, and timing approval cannot be separated from overseas EDA tools.

The scheduling software can only serve a limited number of specially adapted tasks.

The first round of success utilized a large amount of manual screening and engineering resources, but there is still a long way to go before it can be replicated, mass-produced, and delivered.

"Dawn One merely carved out a glimmer of light in the darkness, proving that this path is viable."

"What we need to do next is to use national-level engineering capabilities to truly transform a technology route from the laboratory into an independent and controllable industrial foundation."

Gu Shaoting closed the report.

The elderly man beside the head of the table raised his eyes: "How long will Qingjia need?"

Three years.

Gu Shaoting replied.

"We completed small-batch trial production, software adaptation, and strategic customer verification within one year."

"We have established our own packaging, storage, toolchain, and second-generation architecture within three years."

"If any link in the chain falls behind, Dawn will remain confined to the laboratory."

The head of the finance department then opened the red budget document in his hand: "The total budget for five years is 10 billion yuan."

"The funds are all allocated through national strategic science and technology special subsidies, do not take up Qingjia's equity, do not require repayment, and do not participate in the distribution of project profits."

"The first year's funding is 2 billion yuan, and the remaining funds will be allocated in batches according to the annual tasks and milestones."

Every expenditure is subject to a special audit.

"Failure is acceptable, but we must leave behind real data, patents, equipment, talent, and reusable engineering capabilities."

This funding is completely separate from the 5 billion yuan special capital previously approved by the National Integrated Circuit Industry Investment Fund.

The former is used for a five-year national mission, without exchanging shares or creating Qingjia's debt.

The latter will continue to enter the Qingjia Industrial Platform and established projects in accordance with the original investment and milestone agreements.

Two sets of accounts, two sets of budgets, and two sets of audit standards are not allowed to be lent or borrowed between each other.

10 billion yuan.

Subsidies for pure scientific research and industrial capacity building.

No one at the conference table showed any relief at the number.

In the semiconductor industry, 10 billion yuan can build several experimental centers, or it may only be enough to complete a few rounds of verification for a wrong route.

The old man looked at Gu Shaoting: "How will we solve the problem of providing space for trial production and research and development?"

"Tsinghua University campus can no longer accommodate the next phase of growth."

Gu Shaoting stated frankly, "The university is suitable for basic research and talent cultivation, but not for long-term accommodation of highly confidential industrialization teams, packaging pilot production lines, and large-scale external suppliers."

The planning blueprint for the northern park of Zhongguancun Science City then lit up on the large screen.

The core area is outlined with vermilion lines.

It includes two Class 10,000 cleanroom experimental buildings, an advanced packaging pilot line, a national-level failure analysis center, a supercomputing security node, and independent dual-path energy storage facilities.

The entire park is expected to be delivered in phases over two years.

The land and newly constructed buildings belong to the national special platform and are only authorized for long-term use by the Chenxi Project. They will not be included in the balance sheets of Jianing, Chuangsheng, or Chen Mo.

Prior to this, Building No. 1 of Science City was used by Qingjia.

The building has already completed its main structure and basic electromechanical construction. It only needs to be re-divided into clean areas, security areas, and data access areas to accommodate the existing engineering and management team.

"The first batch of relocations will be completed within one month."

The president of Tsinghua University took the initiative to explain.

"The university retains basic research, teaching, and joint research groups."

"The academic status of Academician Gu, Professor Wu, and related teachers remains unchanged."

"Personnel involved in industrialization, engineering pilot production, supply chain, and secure computing will be relocated to Building No. 1 in the Science City."

"Both parties will continue their cooperation through joint research, talent development, and technology transfer agreements."

This arrangement truly gave Qingjia her own independent space.

This also prevents national-level projects from occupying campus experimental resources for extended periods.

After the venue issue was resolved, the meeting turned to Jianing Holdings.

Jia Ning's total share capital is 1.38 billion shares.

Chuangsheng holds 1.035 billion shares, accounting for 75%.

The remaining 345 million shares are circulating in the Hong Kong market.

After Chenxi was placed under the highest level of secrecy, it would cause numerous problems for Jianing to continue its listing status.

Regular reports, related-party transactions, disclosures of major projects, overseas institutional research, and public stock price fluctuations may all reveal changes in Ching Chia's budget, personnel, and supply chain.

The State-owned Assets Supervision and Administration Commission (SASAC) and the heads of the National Integrated Circuit Industry Investment Fund (Big Fund) immediately unveiled a privatization plan:

"Based on the current share price of HK$3.51, we will launch a full cash tender offer of HK$7.02 per share to all public shareholders in the secondary market."

"The premium is 100%. The total investment is approximately HK$23.87 billion, which is fully funded by the state-owned strategic platform."

Creation has committed not to sell its 75% stake and supports Caning in completing its privatization through a scheme of arrangement.

After the transaction was completed, Jianing was delisted from the Hong Kong Stock Exchange.

The shareholding structure changed to 75% for the company and 25% for state capital.

State capital also has special veto power over matters involving technology export, transfer of control, disposal of core assets, and national security.

Qingjia's core intellectual property rights, data, and industrialization entities all remain within China.

The old man turned his gaze to Chen Mo: "Chen Mo, do you have any objections to this arrangement for capital to exit?"

"no."

Chen Mo answered.

"Jianing went public in order to obtain funding, equipment channels, and market credibility."

"After the dawn entered this stage, the risks brought by the open market have outweighed the value."

"Public shareholders exited at a premium of double the price before the trading halt, thus protecting their interests."

The state-owned assets official cautioned, "Formal privatization still requires approval from the independent board committee, a vote by public shareholders, and compliance with Hong Kong regulations and court procedures."

"State capital will make full cash offers, but will not bypass the rules."

Chen Mo nodded.

"Handle it according to market procedures."