Rebirth 08: Rise from copycat phones

Chapter 301 Indian Market
In late August, a technical meeting was underway at the fruit company headquarters on the other side of the Pacific Ocean.

People from many technical departments attended the meeting to analyze and discuss the S14 launched by their biggest competitor Zhiyun, and focused on several key technologies on the S14 phone.

A middle-aged man in a plaid shirt, holding an S14 chip disassembled from an S503 phone, said: "We have conducted comprehensive tests on this S503 chip. Although we are reluctant to admit it, the fact is that their S503 chip has greatly surpassed our A8 chip in performance."

"Especially in the critical aspects that affect the smooth performance of mobile phones and gaming performance, they relied on the low power consumption characteristics brought by 3D transistor technology to significantly increase the main frequency, while also achieving large-capacity L2 cache and L3 cache."

"Although the other party did not publish the detailed parameters of the chip, we still used an electron microscope to observe and analyze the internal structure of the chip, and combined it with some parameters of the 403-nanometer process technology published by the other party and the disassembly analysis of their previous generation S chip!"

“依旧可以判断出来，S503芯片的L2缓存达到了2MB，同时L3缓存达到了4MB。”

"In addition, when we conducted detailed tests on the chip, we found that they did not use the previous inclusive memory. The S403 chip they released last year had a 4MB L1 cache and also included a 7MB L8 cache to improve cache utilization. This design is similar to ours. Our A last year and this year's A chips all use this inclusive cache mode."

"However, the other party's S503 this year uses a dedicated cache mode, and the L2 cache and L3 cache are independent of each other. This allows the other party's chip to frequently call the high-speed L2 cache in daily use, thereby achieving higher daily use fluency."

"This is one of the core reasons why their S14 phones have a very obvious improvement in smoothness when used in daily experience compared to last year's S13 phones and our new phones."

"In terms of supporting large-scale software and gaming performance, their S503 chip has a higher main frequency of 3GHZ due to the low power consumption of 2.1D transistors. Combined with their large-capacity cache, its performance is even better!"

"In contrast, our A8 chip is subject to the high power consumption characteristics of the 1.4-nanometer process, so we have to adopt a relatively conservative design scheme in terms of main frequency design, which is only 4GHZ. At the same time, the cache scheme is 3MB of L1 cache including 2MB of L cache."

"This results in a significant gap between our A8 chip and the other party's S503 in terms of fluency in daily use and fluency of large software."

"We are also lagging behind in terms of GPU, which leads to lagging in gaming performance."

"In terms of overall performance, the gap between our A8 chip and the S503 chip this year is even greater than the gap between the A7 chip and the other party's S403 chip last year."

"We worked hard for a whole year, but instead of narrowing the gap, it widened!"

When saying this, the middle-aged man looked helpless.

Someone else explained for the chip department: "This is not a design problem on our part. If it is a purely design problem, we were only slightly behind last year and the year before, but overall we were still at the same level. The reason why we are lagging behind to a greater extent this year is more due to TSMC's process technology!"

"Their 20-nanometer process is not good enough!"

"If the main frequency is slightly increased, power consumption and heat dissipation will be out of control, and then the entire chip will turn into a fire dragon!"

At this point, the man still showed a gloating expression: "At least, we are better than Qualcomm's 810. I heard that their 810 chip has a very high main frequency, and the heat dissipation problem is very serious and difficult to solve!"

However, someone expressed dissatisfaction and said, "But our core competitors are other mobile phones equipped with Qualcomm chips. They are not worthy yet!"

"Our competitor has always been Zhiyun, only that damn Zhiyun!"

"It is natural and necessary for us to beat Qualcomm's chips!"

“But our target is not Qualcomm, but Zhiyun!”

At this time, someone said: "This year's chips are useless anyway. They have already started mass production and installation. We can only think of other ways to do marketing in the future. Don't mention this year's chips!"

"However, we will regain our advantage next year. This year, TSMC's 16nm FinFET process is being actively promoted and is expected to be technically certified by the end of this year. Our next-generation A9 chip will also use this process, and its performance will be greatly improved!"

At this time, someone said: "Zhiyun's 14nm FinFET is also progressing very fast, and according to the information they revealed, their nm process is even more advantageous than TSMC's nm process. Combined with their strong chip design capabilities, the situation is not very optimistic!"

As soon as these words were spoken, everyone in the conference room fell silent!

It seems that their chips will be outshined by Zhiyun next year, which is really unpleasant...

After a long time, people finally changed the topic and talked about other technical features of the S14 mobile phone, especially focusing on wireless charging technology and fast charging.

But it’s still not very optimistic.

"We have been researching wireless charging technology, but it is still some distance away from practical application. The main reason is that the heating problem has not been solved yet. A lot of heat is emitted during our wireless charging process. We initially judged that there are still some problems with the materials!"

"We also need to solve this material problem, so that we can solve the heating problem of wireless charging!"

"Otherwise, if we force the use of current wireless charging technology, our phones will become bombs..."

"But, as you know, we need time to solve the material problem!"

"Fast charging technology is easier, but ensuring absolute charging safety is not easy. However, if we give us half a year, we should be able to do it, but the cost will increase a lot, so this aspect still needs comprehensive consideration!"

After a technical meeting, many people were in a bad mood!

In the past two years, Apple’s mobile phone products have been suppressed by Zhiyun.

They launch new products every year, making it extremely difficult for Apple to catch up. In the past two years, they finally caught up in other areas, such as fingerprint recognition, large screens, and dual cameras, but they found that Zhiyun's chips surpassed them again...

This continuous pursuit has put tremendous pressure on the fruit industry. Not only is there great pressure on marketing, but the investment in research and development costs is also huge.

But when I finally caught up and wanted to take a breath, I found that Zhiyun had run further ahead.

I really want to curse...

This is not a unique feeling for Apple, other smart terminal manufacturers also have similar feelings.

In South Korea, Four Star also conducted a comprehensive analysis of Zhiyun's new generation S14 mobile phone, and then came to a conclusion: Fortunately, my Galaxy S5 was released early!

Galaxy phones have always been released in the spring in order to avoid Zhiyun and Fruit. However, this year, the release of Zhiyun and Fruit's flagship phones were both delayed due to issues with chip technology. At the same time, due to sanctions against Zhiyun in the US market, Fruit was also restricted in the Chinese market.

At the same time, this year's Galaxy mobile phone also uses Qianding Technology's press-fingerprint solution, which solves the biggest shortcoming of fingerprint recognition.

This allowed the four-star Galaxy S5 to seize a certain market window period, and a lot of it was sold in the past few months, making a huge profit.

Nearly 20 million units have been sold so far, and annual sales are expected to reach 40 million units.

The people who bought this four-star phone were so happy that they didn't know what to do... This is the best-selling generation of Galaxy phones in their history. The eldest son of the Li family even called Xu Shenxue to thank Zhiyun for its strong support for the S707 chip and fingerprint recognition!

That’s right, the Galaxy S5 uses the S707 chip from Zhiyun Semiconductor, which includes Zhiyun’s B45 full-network communication baseband.

The W707 chip is a more powerful chip than the Qualcomm Snapdragon 801 chip. In terms of current performance, it can be said to be second only to the Zhiyun S503 chip. Well, we will have to add a Fruit A8 later.

But… when Samsung released the Galaxy S5 this spring, it can be said with certainty that the W707 chip they used was the most advanced chip at the time.

Although Qianding Technology is not Zhiyun's holding company, Zhiyun also holds more than 30% of the shares... and Zhiyun is also a major customer of Qianding Technology.

If Zhiyun refuses to agree, it will be impossible for other mobile phone manufacturers to obtain fingerprint recognition from Qianding Technology.

But Zhiyun wouldn’t do that.

Zhiyun generally does not obstruct its suppliers from developing third-party businesses. Even if you have the ability to sell products to fruit companies, that is your ability.

Zhiyun even sells top-level chips like the W707 chip... and will not restrict suppliers.

In addition to terminal products, Zhiyun's semiconductor business and spare parts business are also a major business. We will also support other manufacturers to enter the market... The premise is that you have to use my chips!

If you use my chip, I will directly send you a full network communication baseband, and I can also help you to use the fingerprint recognition of Qianding Technology. In addition to large manufacturers like Sixing, I can also provide you with memory, flash memory and even screens at preferential prices for other manufacturers...

A complete set of core parts for your use!

If you don’t have the ability to integrate technology, Zhiyun’s semiconductors can still provide public version designs. All core components are ready for you. You can go back and make a shell, install the Android open source system, put a label on it, and you can sell it.

Zhiyun also makes a lot of money selling chips and spare parts, even more than those mobile phone manufacturers.

Of course, Sixing is better. They only use Zhiyun chips and Qianding Technology's fingerprint recognition. Everything else is basically their own. They also have everything and are involved in the entire industrial chain.

Four-star has cooperated with Zhiyun, and then released the Galaxy S5 in the first half of the year, grabbing a wave of the market. Now it is very leisurely, sitting aside with its legs crossed, watching the battle between Zhiyun and Fruit!

Now is the time for Zhiyun and Fruit to fight. Other manufacturers, no matter how strong they are like Four Star, cannot intervene... If they force their way in, they will be directly killed by the aftermath of the fight between the two sides!

You see, other mobile phone manufacturers are very quiet now. During the several days since Zhiyun released the S14 mobile phone, other manufacturers have not made any movement at all, and no one would seek death by releasing new products at this time.

Because everyone knows that now is the time for S14 to dominate the world... and then, behind it is Fruit's new generation flagship Fruit 6, which is gearing up for entry.

Half a month after the release of Zhiyun S14 mobile phone, on September 6, Fruit officially held a press conference for their new generation flagship phone Fruit .

Xu Shenxue also paid close attention to the new flagship phone of this most important competitor.

From the appearance point of view, this year's Fruit 6 is not much different from last year's Fruit 5S. It continues to use 2.5D glass cover and integrated aluminum alloy body. The antenna edge is better made and not obvious. At the same time, the overall frame of the phone is narrower and rounder.

Coupled with their iconic round Home button, the overall look is similar to the later Fruit 6/6S, but there are obvious differences.

Influenced by Zhiyun, their Fruit 6 Plus this year uses a vertical dual camera.

As for its performance, they boasted a lot. Even if it is slightly worse than Zhiyun S14, there will not be any obvious performance gap.

After all, both mobile phones are specifically aimed at the high-end market, and their design concepts are similar, with great emphasis on smoothness and ecology.

One uses the tombstone mechanism, and the other uses the forced shutdown of the background mode;

One plays with a closed ecosystem, and the other plays with a semi-closed ecosystem.

One uses a dual-core chip, and the other uses a dual-large-core and dual-small-core mode.

Although the methods are different, the purpose is actually similar: to give users the most extreme smoothness experience, and to give users the safest and most convenient ecological experience!
But what’s interesting is that after the release of this year’s Fruit 6, it was criticized by the outside world for having no innovation... and only following Zhiyun’s ass.

Zhiyun developed dual cameras last year, and you are doing the same this year. This is fine and understandable...but what about your own products?
Unique innovation?

Zhiyun, our neighbor, has often been criticized for its lack of innovation in recent years. Even this year, it was criticized for having only a wireless charging technology that looks good but is not practical. All other things are old wine in new bottles, or fast charging technology that has been used by other manufacturers.

But at least Zhiyun has wireless charging.

What about your fruit innovation? Where is it?
Faced with external criticism, the fruit industry will naturally ignore it!

People keep shouting about innovation...but where do all these innovations come from?

Of course, when people criticized Apple, they did not forget to bring up Zhiyun... Once again, they criticized Zhiyun's mobile phones for having no innovation.

In the past three years, from S12 to S14, there have been only some minor changes every year, but no disruptive innovation.

Fruit and Zhiyun have been criticized every year in recent years, and have been criticized by some technology enthusiasts for having lost their innovative spirit and being unable to produce amazing products.

This is also related to their technology application strategy.

Although Zhiyun and Fruit talk about innovation from time to time, most of the time, many of their technology application strategies are actually very conservative, even more conservative than those of ordinary mobile phone manufacturers.

Because their customers are not those technology enthusiasts who clamor for innovation, but a large number of ordinary people who are not very sensitive to high technology and have relatively loose financial conditions.

This number is in the billions...

What they need to consider is meeting the needs of hundreds of millions of potential users, providing them with better hardware and ecological experience, as well as brand value!
In order to achieve a better user experience, only mature and cost-controllable technologies are often used.

For example, Zhiyun has been working on wireless charging technology for several years, and has studied it thoroughly over and over again, and finally put it into use... to let outsiders see the so-called innovation.

The 3D facial recognition that was originally planned to be used is not yet mature enough to ensure an ultimate user experience, so Zhiyun Group would rather postpone it than rush to release it!
Companies like Zhiyun don’t just rush to launch new products when they have something new… What they come up with is called a future concept machine. There are a lot of messy future concept machines or smart terminals in Zhiyun’s laboratory.

There are foldable phones, 3D dynamic viewing terminals, glasses smart terminals, etc. There are so many different things!
But is it commercially available now?

No!

What is in the laboratory is just a concept. There is still a long way to go before it can be turned into an actual product, the cost can be reduced, and then it can be mass-produced for commercial use.

This is limited by basic industrial technology!

Unless you make a toy and then have a simple experience or two.

But this is meaningless. Companies like Zhiyun Group are not looking to make conceptual products for a very small number of technology enthusiasts, but industrial products that can be mass-produced and are easy for users to use and experience.

————After the release of Fruit 6, it caused a tornado around the world, sweeping the globe. After it was launched on the market, it was in short supply and sales volume exploded.

In addition, the Zhiyun S14, which was released half a month ago, is still out of stock worldwide.

The two mobile phones have officially ignited this year's smartphone market and stimulated people's consumption enthusiasm.

However, unlike previous years where the battlefields of both sides spread across the globe, this year there is no such smoke of war in the two major mobile phone markets, namely the Chinese market and the American market. Instead, each side dominates the market.

Because... neither party has been able to enter each other's territory to sell products this year.

It hasn't even entered, so there is naturally no competition to speak of. In China's high-end market this year, Zhiyun S14 is unrivaled; and in the US market, Fruit 6 also swept the market after its launch!
Each is the undisputed leader in its own domestic market and there is no tit-for-tat competition.

The competition between the two parties is mainly concentrated in third-party markets such as Europe, ASEAN, Japan and other markets.

Even in the African market, we can see the two sides competing against each other... Although the African market is very small for these two companies, every bit of it is still meat, and they still have to grab what they should grab.

However, the fierce competition between the two sides cannot continue forever, and the heat will gradually decrease.

After mid-September, as the popularity of Zhiyun and Fruit cooled down slightly, leaving some space in the market, major mobile phone manufacturers began to hold their own autumn press conferences and launch some new mobile phone conferences.

Whether it is domestic or international mobile phone manufacturers, they are all rushing to release mobile phones. Of course, what they release are some mid-range, or at most high-mid-range mobile phone products.

Gain sales by adopting different market positioning

No one would release a so-called flagship phone at this time and compete head-on with Zhiyun and Fruit. That would be like not dying fast enough.

Most of the so-called flagship products of various mobile phone manufacturers this year were released in the first half of the year, and some were released in July or early August to avoid the impact of new products from Zhiyun and Fruit.

But in the mid-range market, there is no need to be so troublesome. You can release it after Zhiyun and Fruit and take advantage of the popularity.

Even Zhiyun’s own A series and C series mobile phones chose this time to be released.

On September 14, a month later, Zhiyun Group once again held a new product launch conference and released the A7 and C mobile phones.

However, like previous years, these two mobile phones did not arouse much public response. They are products with considerable sales, but not many people talk about them.

It is worth noting that Zhiyun did not release any inventory-clearing products this year, mainly because there are too many new products on the market recently. After consideration, Zhiyun plans to release the S14X at a press conference next spring.

With the release of Zhiyun A14 and C7 mobile phones, it also means that this year's smartphone market has entered a white-hot stage.

Major mobile phone manufacturers are fighting over the high-end, mid-range, mid-range, and even low-end markets!

The fierce competition among various manufacturers continues to stimulate market enthusiasm and greatly increase the capacity of the smartphone market this year.

On October 3, at the Zhiyun Group headquarters, Ji Chenghe found Xu Shenxue with the latest report: "Mr. Xu, our mobile phone sales have been quite good in the past two months!"

"In August, the month the S14 was launched, million units were shipped, which emptied our inventory and production in late August!"

"In September, we shipped a total of 14 million S phones."

"In two months, we have shipped a total of 14 million S phones, which is a very good result. This shipment volume is mainly limited by our production capacity, especially our chip supply is not very sufficient. The monthly production of million units is almost the limit."

"We estimate that this extreme shipment should last until December!"

Xu Shenxue took the report and looked at it, seeing the various data statistics on it, especially the statistics of major markets.

The domestic market is amazing. In just two months of sales, the S14 mobile phone has sold million units. This not only reflects the strong competitiveness of Zhiyun mobile phones, but also fully reflects the rapid economic development achievements in China in recent years...

If consumers don’t have money, what can they use to buy Zhiyun phones?
At the same time, in the domestic high-end market with prices above 4,000 yuan, Zhiyun still stands out. Its S series models and A series mobile phones together account for 90% of the market share, which is almost the same as a monopoly.

At this time, Ji Chenghe said: "This year's market capacity will continue to increase significantly. Our group's strategic analysts believe that stimulated by the sales of our S14 and Fruit 6 phones, and the further penetration of low-end phones, coupled with the large-scale explosion of some emerging markets such as the Indian market, this year's global smartphone sales are expected to exceed billion units, a growth rate of % compared to last year."

Ji Chenghe pointed to the analysis of the Indian market in the report and said, "Among emerging markets, the Indian market has performed quite well. The growth rate of local smartphone sales has increased significantly, becoming one of the main drivers of global smartphone growth."

Xu Shenxue also took a closer look and said, "The local market is growing at a high rate. We can increase investment appropriately. Considering the local economic level, we can also develop a few India-specific versions to seize the market."

Ji Chenghe said: "Mr. Xu's idea is similar to our old mobile phone strategy. The local economic level cannot support our new flagship. Even last year's mobile phones were relatively expensive. Appropriately launching relatively low-priced mobile phones can greatly increase market share!"

Ji Chenghe said: "In addition, they once again invited us to invest and build a local foundry!"

Xu Shenxue didn't even think about it: "Reject it, but the attitude of rejection should be better. This market is still needed after all!"

Ji Chenghe said: "The fruit industry is currently moving its supply chain to India!"

Xu Shenxue laughed: "It's not just the fruits that have to eat curry, we have to eat curry too. Besides, in the current high-end market in India, there are only a few high-end mobile phones sold. They will lose a lot if they go to India!"

"Besides, they only built an assembly plant in the past, and didn't even go to the core supply chain!"

Ji Chenghe also said at this time: "There are some domestic manufacturers who want to build factories in India, and they also want to bring our supply chain companies with them to get more so-called discounts."

Xu Shenxue said: "I have no control over these mobile phone manufacturers wanting to go there and set up an assembly plant. It is understandable that this is a normal business choice. I also don't care about other people's spare parts companies, but our supply chain companies will not go there."

Zhiyun mobile phone is a banner, and it is impossible to move the production base from China to abroad.

The supply chains managed by Zhiyun are all core industries, such as screens, chips, and batteries.

Such core industries invest in foreign countries, which often cost tens of billions or even hundreds of billions of dollars. Moreover, such matters involve industrial chain layout, international competition, etc. The level is too high, and even Zhiyun Group itself cannot decide...

“However, even though our supply chain cannot reach there, we still need to compete for the local market as much as possible!”

"After all, our core supply chain can't go there, and neither can the core supply chain of fruits. Even the father and son of the Four-Star Li family know the risks. It's impossible for them to go there to build a chip factory. At most, they can only build an assembly plant!"

"If no one goes, it means there are no restrictions!"

“Under this premise, customize marketing for the Indian market as much as possible!”

Although Xu Shenxue has no plans to build a factory in India, he has not ignored the Indian market. The Indian market has been growing very rapidly since last year.

Before this, the sales of smartphones in India were relatively small, especially 12. Even strong companies like Zhiyun and Fruit had a hard time selling many smartphones in the local market.

This is because the local telecommunications infrastructure is very backward and 2G networks are still the most common.

It was not until 13 that 3G networks became popular in India. The rise of mobile Internet in the country led to a significant increase in smartphone sales.

In the first quarter of last year, local smartphone shipments were only more than 6 million units, but in the second quarter they rose to 10 million units and continued to increase.

By this year, analysts at Zhiyun believe that smartphone shipments in the Indian market are expected to reach 25 million units in the third quarter of this year.

Although the local smartphone market is still dominated by low-end phones priced below US$200, it still provided Zhiyun Group with a significant sales growth.

After all, with the gradual popularization of 3G networks, local wealthy people and middle-income groups whose financial conditions permit will have the demand to use high-end smartphones. Even if the overall proportion is smaller, it can also bring some market growth for Zhiyun mobile phones.

In this situation, don't expect to build a factory or something, but there will still be some other measures.

In early October, Zhiyun launched the S13X 8GB version for the Indian market in India, further reducing the price to less than yuan to compete for the market.

This operation left people outside speechless!
As everyone knows, the S13X that you released last year was originally a phone for clearing out inventory. From the chip to the running memory to the flash memory, they are all old stuff, and the chip is still the S302 chip.

This S302 chip was the chip on the A12 mobile phone two years ago. It still uses a -nanometer process and is far behind the times!
The other parts of the S13X are all old-generation stock parts, and the screen is only inches.

This year, this phone is already seriously outdated, and you guys even released an 8GB version...

Why else... Because Indians are poor... The S14 phone is pretty good, with awesome performance, but the entry-level version costs yuan, which most Indians can't afford.

Not to mention that the latest S14 mobile phone has no sales in India, even the S13 mobile phone released last year has no sales in India now!
Too expensive!

In addition, in order to maintain the price system of the S series mobile phones, Zhiyun has always adopted the measure of rather stopping production than reducing prices.

For example, the S13 mobile phone has discontinued the 16GB version since August this year, retaining only the relatively higher-priced 64GB and 128GB versions. The overall price remains at around to yuan.

Not to mention the S13 phone, even the S12 series phones that were released two years ago and are still on sale now, in order to maintain the price system, only retain some large-capacity versions, and the price is still over four thousand.

The entire S series that is still on sale, including the S12, has a starting price of yuan.

Over the years, Zhiyun’s S series mobile phones, including old models, have never dropped below 4,000 yuan!

However, we have to take up a part of the mid-to-high-end market, so there is the SX series of mobile phones to clear inventory!

The Indian market is even more special, so Zhiyun has specially launched a special edition of S13X 8GB for them, lowering the price directly to around US$ to compete in this market.

It’s no wonder that this phone has received positive reviews from the local market and sold quite well after it was launched in the Indian market.

Soon, Xu Shenxue received a report that this year, the total sales volume of Zhiyun Group's S series mobile phones in the Indian market is expected to reach four million units.

However, it is worth noting that the main sales force is the C series mobile phones, with the sales of the C6 mobile phone accounting for about 7%, followed by this year's C mobile phone.

Next is the S series of mobile phones, and the ones with the highest sales are the S series' inventory clearance series, the S13X 16GB version and the S13X 8GB version newly released this year.

Then came the S13 phone released last year and the S12 phone released the year before.

As for the S14 mobile phone released this year...this phone is too expensive and its sales in the local area are not very good.

Then he also looked at the local sales of Fruit, which were not very good, with a total of only about one million units, and the main products were still the early Fruit 4 and 4S, followed by the Fruit 5, 5C, and 5S.

This year's Fruit 6 still doesn't sell well locally!

The reason is the same as that of the Zhiyun S14 mobile phone: the price is too expensive and local consumers cannot afford it.

The purchases by a very small number of wealthy people cannot affect the sales of such large-scale mass-produced industrial products.

As for the leader in the Indian market, it is Samsung, which has captured a large market share locally by relying on a large number of mid-range mobile phones.

However, when it comes to profitability in the Indian market, Zhiyun can beat four-star... Selling more does not mean making more money!
The Indian market is a typical example of Zhiyun's development of emerging markets, which is to compete through old mobile phones and gain market share.

The best-selling products are not new models, but old models or even cleared inventory models.

India and most of the ASEAN markets are similar.

As for new flagship products such as the S14 mobile phone, countries with relatively good economic conditions, relatively high consumer spending power and relatively good communication infrastructure are still needed to undertake the main sales tasks.

Such as domestic market, European market, etc.!
There is no need to talk about the domestic market, and as for Europe, this year Zhiyun Group has launched a large-scale marketing campaign in the local market.

And these are all superficial.

Many times, the market is not something you can get just because you want it. You also need to obtain it through certain exchanges of interests.

Recently, Xu Shenxue has been in contact with some European consortiums to discuss the feasibility of Zhiyun Group delisting from the US stock market and then issuing additional shares to European consortiums.

European consortiums are very interested in this!

However, the funds required are not a small amount, and it is easily hundreds of billions of dollars. Although they are interested, they also require both parties to have a thorough and detailed discussion and make various exchanges of interests.

It doesn't mean that the two sides sit down and drink tea and then finalize the share issuance agreement...especially since the interests of the American consortium are involved.

Zhiyun wants to kick the American consortium out and then introduce a European consortium... The American consortium is very dissatisfied with this!
Someone even called and said: We may be fighting, but that doesn’t mean I don’t want your shares anymore… I will not agree to sell your shares.

Xu Shenxue responded: Get out of the way!

As for the other party not selling shares...this is not an obvious financial operation, and the other party can't just not sell if they don't want to.

When the time really comes, Xu Shenxue has at least dozens of ways to make the other party give up their shares.

(End of this chapter)