What's wrong with me being a rich man?

Chapter 525 Gift
Bai Xiaosheng maintained his usual practice, even if it meant the evaporation of billions in market value and the resulting pressure.

Or perhaps it was Yu Xing who maintained the usual practice.

He genuinely didn't know that BYD would have such an incident, especially since it happened right after the Hong Kong stock market crash. But once it happened, it happened, and everything became clear. Bai Xiaosheng was able to see the anonymous user's identity in the background and contacted them for preliminary verification, which led to the final presentation of the situation.

Also taking into account the potential impact of this incident, as well as the business that Lingang is building, Baixiaosheng notified the boss immediately, and then granted permission to leave in a very short time.

Needless to say, this incident has been met with skepticism and ridicule from the outside world, and even those within the Silicon Carbon Group who witnessed it had some reservations.

The allegations surfaced in the morning, and by 8 PM that evening, Big Talks released a detailed investigation report and a statement on the handling of the matter. The report identified the person directly responsible as the head of the Green Transportation Business Unit in Jiangsu Province, and the distributor involved in the irregularities as Jinling Su Shun Yatong. Jinling Su Shun Yatong was found to have failed to transfer its 20 million yuan subsidy to the company and also owed 10 million yuan in outstanding payments. The former was dismissed, and the latter's cooperation was terminated, with legal action to be taken against them.

At the same time, Biji directly canceled the dealers' authority to submit applications on their behalf, centralized the application and settlement process for subsidy funds under the unified management of the headquarters, and required dealers to provide proof of actual user use as a prerequisite for subsidy disbursement in the future.

Finally, the general manager of the Green Transportation Business Unit, who was the direct supervisor of the person responsible for the incident, was demoted and transferred. Some of his functions will be split into a new business unit. The board of directors of Biji has set up an audit committee, under which the audit department reports directly to the board of directors and conducts independent compliance reviews.

BIG apologized for the violations by individual distributors, but also stated that it was not a systemic issue. BIG will actively cooperate with relevant departments in their investigations and will further disclose the progress of compliance rectification through financial reports, investor briefings, and other channels in the future to gain the trust of the market.

From external circumstances to internal responsibilities, including departmental adjustments, executive handling, compliance upgrades, and expressions of apology, Biji's announcement was very detailed and its response was comprehensive, but it still couldn't escape ridicule.

The emergence of Bai Xiaosheng, who sparked this controversy, is also seen as Yu Xing's attempt to counter his rivals in the new energy field.

The next day at noon, when Cui Zhiyu went to the cafeteria for lunch, he intentionally or unintentionally mentioned the still unresolved controversy.

"Oh dear, we didn't manage to do you a favor. Mr. Yu, I'm afraid quite a few people will have something to say about you now."

There's just too much controversy surrounding it!
Just as it was speculated that the last plunge in Bitcoin was the work of the "King of Short Sellers," this time there are also seemingly credible rumors about a conflict between Yu Xing and Wang Chuanfu, suggesting that this is an attempt to sabotage Bitcoin. Combined with Yu Xing's past behavior when competing with Tencent, many people have come to believe this for a time.

Yu Xing, without looking up, said while eating, "I didn't intend to give it away anyway."

Cui Zhiyu was speechless. He actually felt it was just a harmless favor, and judging from the description in the other party's announcement, it was highly likely that a loophole had indeed been exploited. President Yu's stubbornness seemed quite heartless.

But then he thought, if President Yu hadn't been so stubborn, there probably wouldn't have been any silicon carbide business in Lingang.

Seeing that the vice president remained silent, Yu Xing smiled and said, "As for the criticism, it's alright. The facts are there, and it's normal for different people to have different opinions. Why should we care what others think? It's fine..."

He picked up a slice of pork belly: "That's what happens when I'm the boss."

Cui Zhiyu chuckled twice. Regardless of his thoughts, he had to do things the way the boss wanted.

He ate the last two bites of his meal and said, "Pengcheng is about to launch its new car in two weeks. I wonder if President Wang will still be coming to our place in February."

Yu Xing didn't react much: "It's such a small matter, it doesn't matter whether you come or not. It's not a big deal whether you come or not, it's fine either way. If your own cars don't sell well, can you blame others?"

Cui Zhiyu knew that this statement referred not only to his own family but also to Bi Ji in this public opinion.

He waved and said, "Received, Mr. Yu!"

Compared to the more subtle voices within the Silicon Carbon Group, Liu Wanying was much more direct.

"Mr. Yu, are you really not afraid of ruining them? Biji has been in a slump these past few years. What if it causes a domino effect like the stock market? How can you bear to do that?"

Liu Wanying was half-joking, but there are indeed such voices online, especially regarding the inexplicable collapse of Hong Kong stocks, which makes people very suspicious of the situation at Biji.

"Whether it collapses or not is not something I did by sneaking in there," Yu Xing laughed. "Even if this company fails, there's another one, and if that one fails, there's another. I'm confident in the overall development of new energy. As for what can really happen, consumers look at the product's strength. No matter what the company does, if the product is good, it will still sell. Do you think the relevant departments' investigation will cause any major problems?"

Liu Wanying knew about the policy support that the Silicon Carbon Group had received in its development, so she naturally knew that this incident would not have a significant impact.

"I estimate that there will be a wider investigation into the issue of subsidies within the industry," Yu Xing pondered. "There are quite a few problems within the industry itself, and there might be a concentrated crackdown."

Liu Wanying asked, "Has President Wang contacted you? Do you think he might have any reservations?"

Yu Xing shook his head: "We haven't been in contact, I don't know, and it's probably not that serious."

Liu Wanying pondered for a moment: "I think President Wang should be able to have that kind of magnanimity, after all, it's a company whose stock has been bought by both big and small stock market gurus."

Both the world's top stock market gurus and Lingang's rising star hold shares in BJ's stock.

Yu Xing sighed, "Speaking of which, it seems we really will have to endure this for a while longer."

Liu Wanying laughed heartily. The short sellers didn't short sell but instead speculated by going long, only to have their stock price hurt by the content they themselves revealed on their website. There couldn't be anything more interesting than this.

While marveling at this, she couldn't resist adding insult to injury: "It would be a real shame not to take advantage of Bai Xiaosheng's information. If Bai Xiaosheng himself has any problems next time, or if problems arise when silicon carbide is listed in the future, you should tell me as soon as possible. Consider it a waste to make use of it."

Just like the former CEO of Volkswagen who took the risk of shorting his own company.

“It’s like your mockery of us, you big short seller.” Yu Xing shook his head. “If new energy companies want to get a piece of the pie, they should be able to endure ridicule and doubt. I’ve already mentally prepared myself.”

Liu Wanying knew that Boss Yu had prepared himself mentally, but in addition to the psychological aspect, she also knew that the Carbon Silicon Group had a cooperation with Shanghai and would be setting up a data agency in January 2015, specifically to store real-time data on vehicle operation.

This kind of measure is to protect oneself from others, because sometimes she really doesn't understand what this man is thinking.

Competition in the short video market is intensifying, a new car based on silicon carbon is preparing for its launch, 360 and Coolpad have formed a joint venture to expand into the cross-industry sector, and BYD has encountered two setbacks...

In the final days of 2014, another event related to the mountain peak occurred: Volkswagen's former CEO, Martin, was found guilty in his trial and faces a five-year prison sentence, becoming a small footnote to the year's major automotive events.

Coincidentally, as a way to wrap up the year, Time magazine dedicated its final cover to the short-selling king, Over Peak.

The collective scandals involving automobile companies regarding emissions and monopolies have far-reaching consequences. Regulatory agencies in Europe and the United States are pushing for further severe penalties. As a review of an annual crisis, the unavoidable mountain peaks have become a symbolic marker.

However, no one knows what the mastermind behind Guo Shanfeng looks like, so Time magazine's cover doesn't feature any people, but instead uses a simple snake drawing from Guo Shanfeng's official website.

A venomous snake, its tongue flicking, coils atop a host of well-known car brands. Accompanying this cover is Time magazine's headline: Who's the Peak?

Yu Xing naturally saw the report from well-known media outlets, which can be considered as gaining a reputation that no one else knew about.

The Spring Festival is earlier this year, it will be on January 21st.

By 2015, many things seemed to have suddenly become more urgent, and the Silicon Carbon Group was facing what seemed like tangible footsteps approaching.

Yu Xing was working overtime on New Year's Day. He had just finished a meeting in the evening and was thinking of inviting Lü Haiying, Zhong Zhiling, and others to dinner so he could hear about their preparations for the Spring Festival Gala. However, before he could even make the call, Lü Haiying called in.

"Senior brother, Alibaba has poached people from our company." Lü Haiying's voice was very serious.

Yu Xing laughed and said, "Poaching again? Don't they have enough of their own talent?"

Lü Haiying sighed: "It's not Douyin, it's not silicon carbon, Alibaba poached one director and two deputy directors from MusVid in the United States."

Yu Xing's brows furrowed immediately, his thoughts racing.

Unlike the fierce competition in the domestic short video market, MusVid's development environment is exceptionally good. It has neither been copied by giants nor forced to burn money. Instead, it is constantly improving its algorithms and products.

Silicon Carbon Data really likes products like this, where the technology can be verified overseas. They usually test it on Mus first, and then bring it back to test it on TikTok. This includes lip-syncing music features, which are tested from the outside in.

What is Alibaba planning to do by poaching people from Mus?
Is it simply trying to understand silicon carbon data's thinking on short videos through Mus? Or is it trying to replicate the competition with Douyin in China overseas?

Lu Haiying then voiced her concerns in this regard.

Unlike the resources available domestically, MusVid's development will face much more challenges if it encounters large-scale replication and competition for market share overseas.

While silicon carbon data certainly boasts advanced algorithms, the driving force behind Douyin's growth lies in the multi-channel acquisition of traffic in the domestic market. Lingang itself already has a considerable amount of traffic. In contrast, in an environment dominated by Facebook and Google, the scale of money burned would likely be multi-level.

Listening to his junior sister's voice, Yu Xing pondered for a long time before sighing, "Alibaba really gave us a wonderful gift on the first day of this year."

Whether it was a coincidence or not, it just so happened to be dug up on January 1, 2015.

He continued, "This is bad, very bad. This signal from Ali is really worrying."

Once Alibaba opens up overseas markets, the situation will become more complex and the pressure will be greater. If it judges that the domestic market is more important and wants to bleed out Silicon Carbon Data by escalating competition with MusVid, that would also be very troublesome.

After thinking for a while, Yu Xing remained relatively calm. No matter what, there was always the financial support from Guoshanfeng, so the carbon silicon data was not as fragile as it seemed.

During dinner, Lü Haiying reported the matter in person.

Alibaba is not to be underestimated. It is too strong. Not only is it the top e-commerce platform, but it also controls WeChat, which can compete with Tencent. It has also achieved impressive data in short videos and controls an ecosystem of Weibo, UC Browser, and other products.

Listening to his junior sister's analysis, Yu Xing had to admit that she was a true giant.

and so……

Where is Huang Zheng?
Alibaba shouldn't be doing this; it should refocus its attention on its core e-commerce business.

What about Pinduoduo, the company that stabbed Alibaba in the back?
Yu Xing didn't know when Pinduoduo was founded, but he felt that the development of smartphones not only supported short videos, but also the speed-up and price reductions and the 4G smartphones costing hundreds of yuan that he and Xu Xin had talked about should apply to Pinduoduo as well.

"Let's dig then, let's take a look first, we can't stop people from having a proper holiday."

"there is always a solution to a problem."

Yu Xingzhen calmly reassured Lü Haiying, reminding her that Alibaba hadn't done anything yet and that they couldn't afford to lose their composure. He added that if Douyin could take off during the Spring Festival, it would put significant pressure on other competitors.

That evening, he inquired a little about Pinduoduo and thought that if it had already been established, investing money and providing traffic would be an effective way to support it.

However, Pinduoduo didn't find out anything, but they did find out about Huang Zheng.

Huang Zheng is currently in Shanghai, running a game company, but he is currently recovering from an illness.

Yu Xing thought it over and over, but he didn't know what the situation was. However, he couldn't ignore the New Year's gift from Alibaba, so he finally called a few friends the next day.

There's Bi Sheng from Letao.com, Chen Qi from Meilijie, and Xu Xin who just visited recently.

He wasn't interested in projects like Pinduoduo and had no intention of working with them, but Carbon Silicon Data had its own traffic, a group of friends in e-commerce, and investors like Xu Xin who were good at investing in e-commerce.

Furthermore, given that Tencent and Alibaba have been locked in a standoff for so long, and Tencent has been trying to suppress Alibaba's e-commerce business for the past two years, why can't it also leverage its traffic?

Pinduoduo's growth "once" relied heavily on the viral spread of WeChat. Now, the ticket is only half a ticket; the other half is in the hands of Tencent's WeChat, which can also be used.

Surely it's not like Tencent hates itself more than Alibaba, right?

Yu Xing disliked the New Year's gift from Alibaba and planned to save up a gift to send back to Alibaba, so that MusVid would not have to face an overseas battle as well.

If it can't accumulate enough funds, then when Pinduoduo is launched, it will definitely get the best starting environment.

Bi Sheng, who was in Nanjing, soon drove to Lingang. He was busy with Letao.com, but he also kept an eye on his friend's business in his spare time.

He was quite puzzled by Mr. Yu's invitation: "Is it because the new car is about to be launched that you only remembered your buddy now?"

Yu Xing patted Bi Sheng on the shoulder, smiled at him, and said, "Huang Zheng is often ill; you should encourage him."

(End of this chapter)