King of Capital

"No problem, just sign."

Xie Jingxing signed the repurchase agreement without hesitation. The dozen or so witnesses present had different identities. Director Wang from the State-owned Assets Supervision and Administration Commission quietly pushed the door into the office at the right time, sat in the corner holding a thick folder and watched quietly.

Taihe and Alibaba originally invested in Meizu at a valuation of 210 billion yuan. Now the repurchase at a valuation of 280 billion yuan represents a two-year growth rate of 33%. Calculated at an annualized rate, it is only 12% higher than the 3.47% annual interest rate of the performance bet clause.

Considering the current operating risks, the valuation of 280 billion is fair, even low, and is worthy of the company's development achievements in the past two years.

After all, Huang Zhang has turned into a self-exploding truck. If Ali still asks for a high price, how can he talk about sacrificing his life for the cause and never compromise?

The key to this deal is that Xiyou will take over 5% of the shares, and when combined with Taihe's shares, Xie Jingxing's total shareholding in Meizu will increase to 20%. In terms of the share distribution structure, the upper part cannot grasp the actual control, and the lower part is the profit and loss of more than billion funds.

If Huang Zhang was replaced by Lei Jun, the structure would be acceptable, but unfortunately he is who he is. He can't become anyone else and no one can replace him.

Then the follow-up will follow...

After Xie Jingxing signed the letter of intent himself, he fell silent again, as if he was away from the scene. He watched the parties finish discussing the repurchase and the handover of the cooperative business, and finally confirmed again the consistent response to public opinion and the results of the handling.

"Mr. Xie, we will go through the formal transaction process tomorrow. Thank you for your understanding." Dai Shan took the initiative to extend her hand to express her gratitude.

Xie Jingxing shook hands with her: "It's a pleasure to work with you. Meizu will release new products soon. I hope Mr. Wu will continue to support us."

"Supporting platform merchants has always been Alibaba's mission. Mr. Xie, we can exchange contact information. If you need to communicate anything, please contact me directly." Wu Minzhi politely assured that the incident would end there.

"Mr. Huang, please cooperate with us."

On the other end, the representative of the Women's Federation spoke politely to Huang Zhang, reminding him to report to the Women's Federation and attend lectures starting next week. Entrepreneurs and public figures who fight with women should listen to a few classes and learn how to respect women and not make mistakes.

Except for Director Wang from the State-owned Assets Supervision and Administration Commission, everyone else said goodbye and left one after another. The atmosphere became a little depressing after they closed the office door again.

Although several executives including Ming Yongxiang did not have any strange expressions, Huang Zhang felt all kinds of strange scrutiny and said dryly: "Everyone has worked hard during the time I was away from the company."

"The company's business is still stable, and the public opinion has cooled down. We will confirm the release date of MX6 later. There is basically no big problem."

Xie Jingxing paused for a moment and added, "It's just that the factory has a large inventory of complete machines, and the finances can only last until August at most."

"We must try our best to launch MX6 as soon as possible. Secondly, on the financing side, we can use loans and bonds from various channels, or start a C round of financing." He gave the solution without hesitation.

Huang Zhang asked without comment: "Did the factory stop working?"

"The loss from stopping production directly is too great, so I asked them to temporarily control the production capacity. The main thing is to solve the problem. Just waiting is not a solution." Xie Jingxing responded lightly.

Huang Zhang took a deep puff of his cigarette, lowered his head and looked at the desk, his face blurred in the smoke.

Bai Yongxiang saw this and wanted to say something. Li Nan beside him clenched his fist and pressed it to the tip of his nose and coughed softly. Bai Yongxiang sighed silently and lowered his eyes, unable to bear to look directly at him.

“SASAC is willing to invest in us.”

Huang Zhang raised his head again and continued, "Since Mr. Xie is sitting here, he will definitely not ignore us. With both of you in the company's C round of financing, there is a bottom line."

"Mr. Huang, let me say something. Meizu is a star company in Zhuhai. Both I and the city leaders firmly believe that Meizu can overcome the current difficulties and even develop better and better."

Director Wang had been hiding in the corner the whole time, but he finally stood up to show his presence, smiling with a sincere and friendly attitude.

Bai Yongxiang and several other senior executives didn't know what was going on and didn't say anything, but he didn't care and sat back in his seat, holding the folder in his hand.

"Besides, everyone knows the situation outside the company now. I am no longer suitable to continue managing the company."

Huang Zhang pursed his lips tightly and his Adam's apple moved: "I will hand over my work to Mr. Xie as soon as possible, resign from all positions before the end of the month, and strive to eliminate the impact of public opinion and resume the release of new models as soon as possible."

"Please ask Mr. Xie to lead everyone to work hard in the future. I will not be involved in any company affairs."

As he spoke, he reached for the ashtray and flicked the ashes, trying to prove with his body language that his exit was ordinary and dull. Although it was not heroic, it was not dejected either. He was just tired of the world and that was all.

The shoe has dropped, and executives have expected it.

As long as Huang Zhang stays at Meizu, he will be accused of beating women. The negative impact on the brand continues unabated, and it is far more than just market user resistance.

The company went to universities to recruit passionate young people, and they were very close to the company that beat women. Whenever the government activities involved supporting private companies, the leaders looked at the overall situation and said that Meizu was a local star company and would be given priority. The specific implementation soldiers focused on the current bad reputation of Meizu and avoided any troubles as much as possible...

Xiyou took over Alibaba shares and Xie Jingxing became the chairman. This decision was very logical and natural.

But Huang Zhang retired too quickly. Now there is only half a month left until the end of the month, leaving no way out for his relatives and trusted executives who he had placed in the company.

When Xie Jingxing first joined Meizu, he first set about integrating the supply chain. In the supply procurement department, middle-level managers with the surname Huang occupied almost half of the employee roster, so he adjusted the job positions of several of the Huang managers.

It is obvious what this chairman will do after taking over, and it can be confirmed that Huang Zhang’s announcement that he will not be involved in any company affairs behind the scenes in the future is sincere, and he will follow suit.

The situation has changed dramatically, and the management of Meizu has completely changed hands.

"Mrs. Xie's surname is Yu?"

After the meeting, the executives filed out of the conference room. Bai Yongxiang glanced at the hanged man who was standing shoulder to shoulder with him and smiling, and suppressed his disgust and smiled back.

Regardless of Mr. Xie's wife's surname, Mr. Yu, who holds 1% of the company's shares and serves as a director, is Mr. Xie's confidant. Recently, he has been following him closely every day, and has been openly trying to win over small shareholders while contacting them.

I’m just about to shout at the top of my lungs that Mr. Xie is what everyone wants when he takes control of the company!
He only has the good looks of a handsome middle-aged uncle, and does things in a servile and fawning manner without any moral integrity, but his connections are quite extensive, especially when it comes to things in Jiangsu, Zhejiang and Shanghai, there is nothing he is not familiar with.

Shanghai is the Magic City, where Mr. Xie started his career. Maybe his wife’s real surname is Yu.

Bai Yongxiang finally turned around and through the gap between the slowly closing office door, he saw Xie Jingxing standing in front of the desk, spreading out a thick folder.

"Mr. Huang, what do you think of these plots of land?" Director Wang smiled gently like a spring breeze. He bent over with his butt sticking out and was busy hanging a map of ZH City on the whiteboard. He snatched the small flag from the secretary and inserted it into the map to mark it.

It is adjacent to Nanping on the left and the bonded area wharf on the right. It is a Feng Shui treasure land. Gree’s 200,000 square meter factory is not far away. It can be said that our city has rich experience in cultivating advanced manufacturing enterprises!
Huang Zhang gradually frowned: "The area is too large."

"It's not big, only about 3,000 acres."

Director Wang turned his head and looked at Xie Jingxing passionately: "Since you two are so determined, the city can't just support the wellhead. If we want to do it, we have to be the toad that jumps out of the wellhead!"

"Do you... have so much money?" Huang Zhang's myriad emotions turned into just one question.

Xie Jingxing pushed the folder in front of him: "Money is not a problem, the premise is that you agree to read it first."

[Meizu's new energy vehicle business development cooperation plan with ZH City and several agreement planning matters. 】

The title printed in the standard official document font is slightly long and appears particularly plain. At first glance, it looks like an eight-part essay with no nutritional value, but once you turn over the title, the entire hundreds of pages of content reveal an ambitious and aggressive attitude.

ZH City granted Meizu Technology 70 acres of industrial land at 3000% of the market price, provided a 20 billion yuan low-interest long-term loan guarantee, and the State-owned Assets Supervision and Administration Commission of the State Council held a 10% strategic investment stake.

Meizu Technology aims to build a new energy vehicle factory and put it into production within five years, investing no less than 50 billion yuan in the factory, and its total revenue must not be less than 2022 billion yuan from 1500.

In addition, Jingxing Group cooperated with Zhuhai state-owned enterprises to establish a 30 billion yuan new energy industry guidance fund to invest in and introduce upstream and downstream companies in the new energy industry chain, and there are also countless details such as tax and fee reductions.

The standard betting template comes from the fact that Zhuhai has tasted the sweetness and enjoyed the wonderful dissatisfaction of the manufacturing industry.

The local people have regarded Meizu as a treasure for many years, and have placed their hopes on Huang Zhang to create a hard technology giant for the local area. They do not expect a youthful version of Steve Jobs or a beggar's version of Apple, but they can certainly look forward to the second Gree!
Facts proved that this was a wrong choice. He was not even as good as Dong Mingzhu and had no intention of introducing state-owned capital.

During the stock market crash last year, Xie Jingxing held Gree shares. Through this relationship, he had contact with Zhuhai state-owned assets units and vaguely learned a few words about them. So when Chen Xi came to Zhuhai from Beijing, he asked whether he could contact the relevant leaders in charge of the economy through Gree.

That night in the hospital, when Huang Zhang proposed that he take over Alibaba shares, he was ambiguous and did not give a positive response. Then he rushed to the municipal government early to explain the smart car theory that he had used to fool Cheng Wei.

Help me acquire Meizu, and I will give you a Samsung + Tesla, a hard technology giant company that will lead the next era - Xie Jingxing promised.

The three main leaders thought they were still asleep early in the morning, and then they had in-depth communication again and again. With the precedent of Luzhou's market-oriented 100 billion industry guidance fund, Jingxing Group's financial and resource strength was fully demonstrated, and the road to prosperity was gradually paved with golden light.

Tang Man arrived in Guangzhou five days ago. All relevant counterpart departments at the provincial and municipal levels were dispatched, and the luxurious reception was comparable to the treatment Xie Jingxing received in Spring City when he was forced to invest in a 10,000-ton cold chain port.

Chen Xinhong felt that if Huang Zhang was allowed to handle the share withdrawal and repurchase alone, a delicate situation would arise in which the company would become cold towards Alibaba.

Xie Jingxing had been concentrating on his business for nearly half a month because the hospital ward was already full of people acting as lobbyists.

Chen Xi's unspeakable excitement when he reported to him the fight incident, his brother-in-law Yu Xingyao's enthusiasm for keeping a close eye on the company's executives and small shareholders, and the cold face of the Women's Federation representative half an hour ago...

Until this moment, it was like a string of beads, separating Xie Jingxing and Huang Zhang from each other but enough to see each other. He was unwilling to imitate Ali and press forward step by step, but he could not be the second largest shareholder with a 20% stake.

Dai Shan secretly criticized that local protectionism fighting cannot be defined as "intentional injury", which is true, but it is a protection given to Meizu's new major shareholder.

If Huang Zhang is unreasonable and obstructs two million people in Zhuhai from enjoying a better new life brought about by economic growth, then he does not deserve leniency.

"In fact, the cost of buying 3,000 acres of land at a 30% discount is not much. If you look closely, it's only over 600 million yuan. The main reason is that the subsequent investment in warehouse building and R&D team is very expensive. To be honest, if it weren't for the cooperation with a powerful company like Jingxing Group, I would be pessimistic about Meizu's entry into the new energy vehicle field!"

Director Wang waited patiently for more than ten minutes, smiling as he suggested, "How is Mr. Huang's reading? Why don't we talk first and you can take your time to read it later."

"Acquisition + investment?" Huang Zhang put down the folder.

Xie Jingxing said frankly: "I will first directly acquire your 50% stake, and then issue an additional 20% of shares through investment."

"You want too much." Huang Zhang started smoking again.

Xie Jingxing shook his head: "The 20% investment shareholding can be converted into equity depending on the situation."

"I've seen the three-party performance betting agreement you signed for your Series A financing. The cancellation of this bet is equivalent to saving Mr. Huang 15%-20% of his shares. Adding one plus one minus the other is about 50%."

Director Wang coordinated the communication for half a month and said, "If it doesn't work out, we can all take a step back. The SASAC and Mr. Huang can give Mr. Xie a 10%-20% performance incentive."

"Meizu has successfully completed the bet with the municipal government. It is definitely reasonable for Mr. Xie, as the chairman and CEO, to take a 20% stake in the private placement." He was barely objective.

After Xie Jingxing took over, he held a 20% stake and purchased 50% of the shares from Huang Zhang. Later, the State-owned Assets Supervision and Administration Commission of the State Council and external investors led the investment in a total of 20% additional shares.

The equity distribution of Meizu will become: Xie's group holds 56%, Huang Zhang holds 14.4%, state-owned assets hold 10%, and the rest are small shareholders and option pools.

Whether the SASAC leads the investment of 20% of the shares and conducts debt-to-equity swap or gives the company's management 20% of the shares as performance incentives, it will not affect the overall structure.

Huang Zhang decided to fight to the death and was mentally prepared to lose a lot, but this plan was too exaggerated. Did Xie Jingxing really have so much money?
"How is the valuation calculated?" He really couldn't believe it.

Xie Jingxing spread his hands: "280 billion."

“How do you pay and how long does it take to complete the transaction?”

Xie Jingxing smiled and said, "Cash. Sign the contract today and complete the transaction within three months."

"280 billion valuation?"

Huang Zhang's cheek muscles bulged and he stared with his eyes wide open, trying to see through the truth. He had to admit that Xie Jingxing was very frank. It was obvious that Xiyou took over Alibaba's shares, but he insisted on letting him lead the repurchase negotiations and did not interfere at all.

Xiyou will purchase his shares at whatever valuation he agrees with Meizu.

"140 billion. Once the acquisition is completed, Mr. Huang will be on the rich list and can use the money to start a Meizu." Director Wang smiled and made the remarks at the right time.

(End of this chapter)