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

Lin Wan opened the second folder.

Deer Technology.

If Xingchao Cultural & Creative's capitalization is a glamorous fashion show about brand, channels, and valuation premium, then Yaode Technology is a real, hardcore industry.

After the first phase of lithium hexafluorophosphate production expansion was completed, the top three domestic power battery giants immediately dispatched engineers to the site overnight for small-batch sample insertion.

One formulation of PVDF adhesive has been tested at the 100-kilogram level.

Electronic-grade hydrofluoric acid is still in the laboratory purification stage, and there are still three hurdles to overcome before stable mass production: equipment and materials, packaging system, and customer certification.

Moving any product to the next stage means new pilot production lines, testing equipment, and R&D investment.

The factory buildings in Jiangcheng New Energy Industrial Park have been delivered.

Equipment, engineers, and raw material suppliers are gradually arriving at the site.

At present, Deer does not lack orders.

What it lacks is the capital to truly push the product into mass production before the industry window fully opens.

............

At 2:00 PM sharp, in the CEO's conference room.

Liu Ming, General Manager of Deer Technology, Zhang Hai, Chief Technology Officer and Materials Scientist, and Hu Tao, General Manager of Xingchen Industry Investment Department, entered through the door.

Lin Wan didn't exchange pleasantries.

"Pre-investment valuation of 5 billion yuan".

"External financing of 1 billion yuan, with Xingchen simultaneously increasing its capital by 500 million yuan."

Has this plan changed?

"no."

Hu Tao projected the latest equity calculation onto the screen.

"Based on a post-investment valuation of 6.5 billion yuan, after the financing is completed, Xingchen Technology will hold exactly 50% of the shares."

"The founding team continues to delegate three percent of the voting rights to StarCraft."

"Of the five board seats, Xingchen will retain three, and the actual control will not change."

Lin Wan looked at Liu Ming.

"What about external investors?"

"Duofuduo is willing to subscribe for 400 million yuan."

"Tianci Materials proposed 500 million yuan."

"The other three power battery and local industry funds have a combined intention of more than 800 million yuan."

Liu Ming gave a wry smile.

"The external quota is only one billion yuan. The question now is who to give the shares to."

Zhang Hai sat to the side, but there was little joy on his face.

"Duofuduo hopes to obtain priority supply rights for lithium hexafluorophosphate."

"Tianci proposed to jointly establish a research and development center and also hopes to enter some of De'er's laboratories."

Several battery companies have requested that the price range be locked in for the next three years.

Each of these conditions is reasonable when viewed individually.

Putting them together could prematurely destroy the technological and production capacity advantages that Deer has just established.

Lin Wan flipped through a few pages of materials.

"Exclusive supply, long-term price lock-in, and access to core technologies have all been removed."

"Investors can obtain priority purchasing rights under the same conditions."

"Joint research and development must be established as a separate project. The intellectual property rights of the background belong to the original holder, and the newly generated patents shall be determined according to the actual investment and contribution."

"Der's core laboratories, formula databases, and customer data are not directly accessible to any industry shareholders."

Liu Ming hesitated, then asked, "If the conditions are too stringent, won't it affect the valuation?"

"The 5 billion yuan was not supported by a few additional rights."

Lin Wan closed the file.

"They are willing to come because Deer already has products, production lines, and opportunities to enter customer systems."

"If an investment firm is only willing to invest if it can acquire core technologies, then what it wants is not just shares."

Zhang Hai nodded heavily.

His biggest concern is that once capital enters the market, the R&D department will be forced to open up all its data to industry shareholders.

Hu Tao asked, "How will the newly added board seats be allocated?"

"Only one more seat will be added."

Lin Wan said.

Other investors can obtain observer seats and normal access to information.

"Whoever can help Deer shorten the customer certification cycle and fill the gaps in equipment and sales will get a board seat."

Hu Tao quickly made revisions to the plan.

"I asked several organizations to resubmit their industry collaboration lists."

"Complete the management interviews within ten days and provide the final allocation plan within twenty days."

What about Xingchen's 500 million yuan capital increase?

"Settlement is completed simultaneously with external funds."

Lin Wan answered.

"The data room is open in three levels."

"You can look at the financial and publicly available product data first."

"The client list and pilot test data will be released after a formal investment framework is signed."

"The core formula and complete process parameters will not be included in the financing data room."

The people in the meeting room fell silent at the same time.

Lin Wan has now grown to the point where she can independently determine the boundaries of a company valued at billions of yuan.

"Execute according to this plan."

Lin Wan signed her name on the document.

"Deer Financing has officially started."

……

4:30 PM.

The third meeting began.

Liu Xin led Xingxin Mining's finance director and Lao San into the conference room.

The third child had just returned from Russia not long ago.

His skin was roughened by the cold winds of the Far East, and the project list in his hand was covered with annotations.

Xingxin Mining, Northern Resources Group, and the Russian Far East Industrial Fund have signed a framework agreement for a copper-nickel mine project.

According to the existing plan, Xingxin plans to invest US$180 million in three phases.

The initial payment of US$30 million will be made after all conditions, including reserve verification, environmental responsibility allocation, equipment list, and local approvals, are met.

This framework opened the first door to overseas resources for Xingxin.

This also brought the company's financial pressure to the forefront quickly.

Over the past year, Xingxin has completed the integration of a large number of mines in western province.

Safety rectification, equipment upgrades, environmental protection projects, and the acquisition of mining rights have already consumed more than 1.1 billion yuan.

Many mines have just resumed production, and it will still take time for cash to flow back in.

Investment in domestic mining areas cannot be stopped.

The Russian project requires advance preparation of US dollar funds, equipment, and engineering teams.

Several overseas projects jointly selected by East China Mining also require ongoing payments for exploration and due diligence.

Xingxin's finances are already stretched thin.

"How much is the bank willing to pay?" Lin Wan asked.

The finance manager opened the report, his expression grave.

"Three domestic banks are willing to provide a total of 1.2 billion yuan in new credit lines."

"Most of these require pledging mining rights, equipment, or parent company equity."

"The interest rate is acceptable."

"But if all of it is used, Xingxin's financing options for its domestic business will be squeezed."

Liu Xin wiped his hair and said gruffly, "President Lin, if you ask me, we shouldn't be so afraid of everything!"

"First, transfer the $30 million we can spare to the project account in Vladivostok and secure the land! If the mine is fine, we'll sell everything we own to continue investing; if the mine is a disaster, we'll just accept the loss and let that $30 million go down the drain!"

"You can't do that."

Lin Wan rejected it outright.

"Overseas asset-heavy projects are never as simple as buying a ticket to an amusement park!"

"Once the initial $30 million is deposited into the project's special purpose vehicle (SPV), the subsequent high-voltage power grid construction, permafrost road widening, 10,000-ton heavy flotation plant construction, and the deployment of thousands of multinational engineering personnel will all begin in full swing, like dominoes!"

"If you are forced to stop midway due to a broken funding chain, you will face not only a sunk cost of 30 million US dollars, but also a full breach of contract claim filed against you by the Russian shareholder under the International Court of Arbitration and the forced freezing of your overseas assets!"

The third brother took a large gulp of strong tea and said, "President Lin is absolutely right."

"The construction period in the Far East is short, so equipment and materials need to be transported in in advance."

"Once the first batch of projects starts, the subsequent expenditures will come one after another."

Liu Xin glared at him: "Why the hell didn't you tell me sooner when you were in Moscow?!"

"I told you."

The third brother answered in a muffled voice.

"You were only focused on drinking with Belov at the time."

A low chuckle rippled through the conference room.

Liu Xin was speechless, and Lin Wan brought up the project structure diagram on the screen.

"The Russian project can no longer be funded solely by Xingxin Mining."

"First, the project company will raise funds independently."

"Northern Resources is responsible for coordinating Russian banks and equipment leasing, while the Far East Industrial Fund provides matching funds according to its shareholding ratio."

"Xingxin only assumes its own capital obligations corresponding to 35%, and does not bail out other shareholders."

"Second, we will utilize the ten-year priority procurement right to introduce domestic smelting enterprises and long-term customers."

"They can provide partial advance payments and also participate in transportation, warehousing, and exclusive distribution."

Third, Xingxin Mining launched its first round of group strategic financing.

Liu Xin's expression turned serious.

"Is the group also going to dilute its shares?"

"Dilute appropriately."

Lin Wan said.

"Xingxin has transformed from a local mining company into a resource integration platform for western province."

"In the future, we will also expand into Central Asia, Africa, and South America."

"Relying solely on profits and bank loans will slow down the expansion process, while placing all the risks on ourselves."

"In this round, we need shareholders who can provide assessments of overseas insurance, port transportation, smelting orders, and political risks."

Hu Tao placed the prepared list of investors on the table.

Two large non-ferrous metal groups.

A provincial-level industrial capital.

Three industry funds that have long focused on mineral resources.

There are also two downstream companies that have maintained purchasing relationships with Xingxin for many years.

"Valuation is currently undetermined."

Lin Wan said.

"First, have the audit team recalculate the reserve rights, underwriting contracts, and mining assets that have already been rectified."

"The financing scale will be controlled within a range that does not affect the control of existing shareholders."

Liu Xin stared at the list and remained silent for a long time.

In the past, when he was in the mining business, his most common practice was to pledge everything that could be used as collateral to the bank, and then use the cash flow from the next mine to fill the hole left by the previous one.

This method allows for rapid expansion.

It is also the easiest way for a problem to occur in a certain link and drag down the entire company.

Today, Xingxin manages dozens of mines and is venturing overseas for the first time, so the old methods are no longer applicable.

"OK."

Liu Xin finally nodded.

"We'll leave the financing to Mr. Lin."

"However, there is one thing."

"We will still manage Xingxin's mines ourselves."

"No one, regardless of who is paying, can interfere in the front-line production."

"This is the bottom line."

Lin Wan agreed readily.

"Industry shareholders can oversee funding and major projects."

"The mine operations will remain the responsibility of the existing team."

The third brother, standing to the side, let out a long sigh of relief, his tense face finally relaxing.

He doesn't understand complex financing.

But they knew that if multiple voices emerged in the mine, the frontline workers would ultimately suffer.

Before the meeting ended, Lin Wan set a 40-day preparation period for Xingxin's financing.

Asset auditing, reserve verification, investor screening, and financing for the Russian project are proceeding simultaneously.

During this period, the first installment of US$30 million from the Russian mine will not be paid in advance.

We must wait until all closing conditions are confirmed one by one before proceeding to the project company in accordance with the agreement.

……

Nine o'clock in the evening.

Only a few floors of Xingchen Technology's headquarters were lit up.

Lin Wan sat alone in the office.

Three revised plans are laid out on the table.

Xingchao Culture has launched its shareholding reform and the first round of financing for its trendy toy subsidiary.

De'er introduced strategic capital based on a pre-investment valuation of 5 billion yuan.

While pushing for group financing, Xingxin also established an independent financial firewall for the Russian project.

The three companies span three distinct dimensions: trendy cultural consumption, cutting-edge semiconductor new materials, and transnational strategic minerals.

Each company has its own independent liabilities.

Independently introduce investors.

They shall independently bear the results of their operations.

Star Technology hangs high above, like an invisible giant hand, firmly grasping the bottom line of strategic collaboration, controlling stake, and the highest risk control valve.

She scanned and encrypted the three documents and sent them to Chen Mo's dedicated email address.

Less than ten minutes after the email was sent, the phone on the table rang.

Chen Mo had just finished his evening classes.

"I've reviewed the proposal."

"Looking so fast?"

"I only looked at the core terms."

Chen Mo said.

"There's no need to rush the launch of Star Tide."

"My parents are willing to work, but we can't let them focus solely on financial metrics and stock prices every day from now on."

Lin Wan said, "Understood. I have already asked the brokerage firm to remove all profit-sharing clauses."

After a brief pause, Chen Mo continued, "We must safeguard the technological boundaries of De'er."

"For Xingxin's Russian project, we would rather delay payment by a month than assume the historical environmental and equipment debts of the Russian side."

"The rest is up to you."

Lin Wan leaned back slightly, her beautiful eyes shifting, and her tone held a hint of reproach: "President Chen is getting more and more adept at being a hands-off manager these days."

"What's wrong, President Lin? Doesn't he like having absolute power?"

"Hmm... I like it."

Lin Wan turned her head to gaze at the bustling night view outside the window, and sighed softly.

"Sometimes the pressure is a bit high."

A brief silence fell over the other end of the phone.

"Once I'm done with this busy period, I'll come back to Changhu to be with you."

Lin Wan couldn't help but smile: "I've remembered that."

The call has ended.

Lin Wan sat up straight again and signed her name at the top of each of the three proposals.

The next morning.

Duofuduo, Tianci, and several other power battery companies simultaneously received formal financing invitations from Deer Technology.

Several industrial investors have begun the data verification phase for Xingxin Mining.

The audit, shareholding reform, and establishment of the trendy toy subsidiary of Xingchao Culture have also officially begun.

The largest round of industrial financing since the establishment of Xingchen Technology has begun.